Information about QVC's Operating Segments (Tables)
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12 Months Ended |
Dec. 31, 2021 |
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| 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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2021 |
2020 |
2019 |
| (in millions) |
Net
revenue |
Adjusted
OIBDA |
Net
revenue |
Adjusted
OIBDA |
Net
revenue |
Adjusted
OIBDA |
| QxH |
$ |
8,277 |
|
1,439 |
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8,505 |
|
1,547 |
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8,277 |
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1,536 |
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| QVC-International |
3,077 |
|
562 |
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2,967 |
|
510 |
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2,709 |
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446 |
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| Consolidated QVC |
$ |
11,354 |
|
2,001 |
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11,472 |
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2,057 |
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10,986 |
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1,982 |
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| Schedule of Depreciation and Amortization by Segment |
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Years ended December 31, |
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2021 |
2020 |
2019 |
| (in millions) |
Depreciation |
Amortization |
Depreciation |
Amortization |
Depreciation |
Amortization |
| QxH |
$ |
105 |
|
256 |
|
116 |
|
270 |
|
113 |
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269 |
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| QVC-International |
54 |
|
14 |
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55 |
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12 |
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73 |
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13 |
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| Consolidated QVC |
$ |
159 |
|
270 |
|
171 |
|
282 |
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186 |
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282 |
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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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2021 |
2020 |
| (in millions) |
Total
assets |
Capital
expenditures |
Total
assets |
Capital
expenditures |
| QxH |
$ |
13,962 |
|
169 |
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14,103 |
|
182 |
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| QVC-International |
2,226 |
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41 |
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2,455 |
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36 |
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| Consolidated QVC |
$ |
16,188 |
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210 |
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16,558 |
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218 |
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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) |
2021 |
2020 |
| QxH |
$ |
610 |
|
771 |
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| QVC-International |
356 |
|
407 |
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| Consolidated QVC |
$ |
966 |
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1,178 |
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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) |
2021 |
2020 |
2019 |
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| Adjusted OIBDA |
$ |
2,001 |
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2,057 |
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1,982 |
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Fire related costs, net |
(21) |
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— |
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— |
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| Impairment loss |
— |
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— |
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(147) |
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| Transaction related costs |
— |
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— |
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(1) |
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| Stock-based compensation |
(44) |
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(37) |
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(39) |
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| Depreciation and amortization |
(429) |
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(453) |
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(468) |
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| Operating Income |
1,507 |
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1,567 |
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1,327 |
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| Equity in losses of investee |
(2) |
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(30) |
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— |
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| Gains (losses) on financial instruments |
8 |
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3 |
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(5) |
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| Interest expense, net |
(249) |
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(257) |
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(240) |
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| Foreign currency (loss) gain |
(9) |
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6 |
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(3) |
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| Loss on extinguishment of debt |
(7) |
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(42) |
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— |
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| Other Income |
11 |
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— |
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— |
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| Income before income taxes |
$ |
1,259 |
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1,247 |
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1,079 |
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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) |
2021 |
2020 |
2019 |
| United States |
$ |
8,277 |
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8,505 |
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8,277 |
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| Japan |
1,167 |
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1,132 |
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1,028 |
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| Germany |
1,027 |
|
978 |
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890 |
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| United Kingdom |
722 |
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696 |
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640 |
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| Other countries |
161 |
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161 |
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151 |
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| Consolidated QVC |
$ |
11,354 |
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11,472 |
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10,986 |
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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) |
2021 |
2020 |
| United States |
$ |
610 |
|
771 |
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| Germany |
133 |
|
150 |
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| Japan |
123 |
|
149 |
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| United Kingdom |
71 |
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75 |
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| Other countries |
29 |
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33 |
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| Consolidated QVC |
$ |
966 |
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1,178 |
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