Quarterly report pursuant to Section 13 or 15(d)

Revenue (Notes)

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Revenue (Notes)
 9 Months Ended
Sep. 30, 2021
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block] Revenue
Disaggregated revenue by segment and product category consisted of the following:
Three months ended September 30, 2021 Nine months ended September 30, 2021
(in millions) QxH QVC-International Total QxH QVC-International Total
Home $ 679  272  951  2,229  905  3,134 
Beauty 279  164  443  859  521  1,380 
Apparel 336  119  455  985  372  1,357 
Accessories 210  62  272  720  199  919 
Electronics 171  24  195  539  89  628 
Jewelry 95  55  150  269  169  438 
Other revenue 43  3  46  137  9  146 
Total net revenue $ 1,813  699  2,512  5,738  2,264  8,002 
Three months ended September 30, 2020 Nine months ended September 30, 2020
(in millions) QxH QVC-International Total QxH QVC-International Total
Home $ 819  286  1,105  2,303  829  3,132 
Beauty 297  168  465  910  499  1,409 
Apparel 312  115  427  913  316  1,229 
Accessories 219  67  286  676  188  864 
Electronics 197  25  222  588  78  666 
Jewelry 93  59  152  273  155  428 
Other revenue 43  3  46  119  6  125 
Total net revenue $ 1,980  723  2,703  5,782  2,071  7,853 

Consumer Product Revenue and Other Revenue

QVC's revenue includes sales of consumer products in the following categories; home, beauty, apparel, accessories, electronics and jewelry, which are primarily sold through live merchandise-focused televised shopping programs and via our websites and other interactive media.

Other revenue consists primarily of income generated from our U.S. Private Label Credit Card ("PLCC") in which a large consumer financial services company provides revolving credit directly to QVC's customers for the sole purpose of purchasing merchandise or services with a PLCC. In return, the Company receives a portion of the net economics of the credit card program.

Revenue Recognition

Revenue is recognized when obligations with our customers are satisfied; generally this occurs at the time of shipment to our customers consistent with when control of the shipped product passes. The recognized revenue reflects the consideration we expect to receive in exchange for transferring goods, net of allowances for returns.

The Company generally recognizes revenue related to the PLCC program over time as the PLCC is used by QVC's customers.

Sales, value add, use and other taxes the Company collects concurrent with revenue-producing activities are excluded from revenue.
The Company elected to treat shipping and handling activities that occur after the customer obtains control of the goods as a fulfillment cost and not as a promised good or service. Accordingly, the Company accrues the related shipping costs and recognizes revenue upon delivery of the goods to the shipping carrier. In electing this accounting policy, all shipping and handling activities will be treated as fulfillment costs.

The Company generally extends payment terms with its customers of one year or less and does not consider the time value of money when recognizing revenue.

Significant Judgments
Our products are generally sold with a right of return and we may provide other credits or incentives, which are accounted for as variable consideration when estimating the amount of revenue to recognize. Returns and credits are estimated at contract inception and updated at the end of each reporting period as additional information becomes available. The Company has determined that it is generally the principal in vendor arrangements as the Company can establish control over the goods prior to shipment. Accordingly, the Company records revenue for these arrangements on a gross basis.