Information about QVC's Operating Segments (Tables)
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12 Months Ended |
Dec. 31, 2017 |
|---|
| Segment Reporting [Abstract] |
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| Schedule of Revenue and Adjusted OIBDA by Segment |
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Years ended December 31, |
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2017 |
|
2016 |
|
2015 |
|
(in millions) |
Net
revenue |
|
Adjusted
OIBDA |
|
Net
revenue |
|
Adjusted
OIBDA |
|
Net
revenue |
|
Adjusted
OIBDA |
|
QVC-U.S. |
$ |
6,140 |
|
1,446 |
|
6,120 |
|
1,435 |
|
6,257 |
|
1,467 |
|
QVC-International |
2,631 |
|
451 |
|
2,562 |
|
405 |
|
2,486 |
|
427 |
|
Consolidated QVC |
$ |
8,771 |
|
1,897 |
|
8,682 |
|
1,840 |
|
8,743 |
|
1,894 |
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| Schedule of Depreciation and Amortization by Segment |
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Years ended December 31, |
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2017 |
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2016 |
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2015 |
|
(in millions) |
Depreciation |
|
Amortization |
|
Depreciation |
|
Amortization |
|
Depreciation |
|
Amortization |
|
QVC-U.S. |
$ |
93 |
|
330 |
|
78 |
|
414 |
|
63 |
|
404 |
|
QVC-International |
62 |
|
34 |
|
64 |
|
49 |
|
71 |
|
50 |
|
Consolidated QVC |
$ |
155 |
|
364 |
|
142 |
|
463 |
|
134 |
|
454 |
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| Schedule of Capital Expenditures and Total Assets by Segment |
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Years ended December 31, |
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|
2017 |
|
2016 |
|
(in millions) |
Total
assets |
|
Capital
expenditures |
|
Total
assets |
|
Capital
expenditures |
|
QVC-U.S. |
$ |
9,429 |
|
116 |
|
9,595 |
|
152 |
|
QVC-International |
2,121 |
|
36 |
|
1,950 |
|
27 |
|
Consolidated QVC |
$ |
11,550 |
|
152 |
|
11,545 |
|
179 |
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| Property and equipment, net by Segment |
Property and equipment, net of accumulated depreciation, by segment were as follows:
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December 31, |
|
(in millions) |
2017 |
|
2016 |
|
QVC-U.S. |
$ |
559 |
|
594 |
|
QVC-International |
446 |
|
437 |
|
Consolidated QVC |
$ |
1,005 |
|
1,031 |
|
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| Reconciliation of Adjusted OIBDA to Income before Income Taxes |
The following table provides a reconciliation of Adjusted OIBDA to income before income taxes:
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Years ended December 31, |
|
(in millions) |
2017 |
|
2016 |
|
2015 |
|
Adjusted OIBDA |
$ |
1,897 |
|
1,840 |
|
1,894 |
|
Stock-based compensation |
(31 |
) |
(32 |
) |
(31 |
) |
Depreciation and amortization |
(519 |
) |
(605 |
) |
(588 |
) |
Equity in losses of investee |
(3 |
) |
(6 |
) |
(9 |
) |
Gains on financial instruments |
— |
|
2 |
|
— |
|
Interest expense, net |
(214 |
) |
(210 |
) |
(208 |
) |
Foreign currency (loss) gain |
(6 |
) |
38 |
|
14 |
|
Loss on extinguishment of debt |
— |
|
— |
|
(21 |
) |
Income before income taxes |
$ |
1,124 |
|
1,027 |
|
1,051 |
|
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| Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area |
The following table summarizes net revenues based on revenues generated by subsidiaries located within the identified geographic area:
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Years ended December 31, |
|
(in millions) |
2017 |
|
2016 |
|
2015 |
|
United States |
$ |
6,140 |
|
6,120 |
|
6,257 |
|
Japan |
934 |
|
897 |
|
808 |
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Germany |
899 |
|
865 |
|
837 |
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United Kingdom |
640 |
|
654 |
|
718 |
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Other countries |
158 |
|
146 |
|
123 |
|
Consolidated QVC |
$ |
8,771 |
|
8,682 |
|
8,743 |
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| Long-lived Assets by Geographic Areas |
The following table summarizes property and equipment, net of accumulated depreciation, based on physical location:
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December 31, |
|
(in millions) |
2017 |
|
2016 |
|
United States |
$ |
559 |
|
594 |
|
Germany |
164 |
|
153 |
|
Japan |
143 |
|
145 |
|
United Kingdom |
84 |
|
83 |
|
Other countries |
55 |
|
56 |
|
Consolidated QVC |
$ |
1,005 |
|
1,031 |
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