Quarterly report pursuant to Section 13 or 15(d)

Revenue (Notes)

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Revenue (Notes)
 6 Months Ended
Jun. 30, 2022
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 June 30, 2022 Six months ended June 30, 2022
(in millions) QxH QVC-International Total QxH QVC-International Total
Home $ 680  248  928  1,329  521  1,850 
Apparel 356  117  473  652  234  886 
Beauty 253  145  398  514  290  804 
Accessories 241  58  299  443  113  556 
Electronics 112  25  137  259  51  310 
Jewelry 71  42  113  158  94  252 
Other revenue 41  3  44  83  5  88 
Total net revenue $ 1,754  638  2,392  3,438  1,308  4,746 
Three months ended June 30, 2021 Six months ended June 30, 2021
(in millions) QxH QVC-International Total QxH QVC-International Total
Home $ 775  309  1,084  1,550  633  2,183 
Apparel 359  127  486  649  253  902 
Beauty 294  193  487  580  357  937 
Accessories 272  71  343  510  137  647 
Electronics 167  32  199  368  65  433 
Jewelry 76  54  130  174  114  288 
Other revenue 46  5  51  94  6  100 
Total net revenue $ 1,989  791  2,780  3,925  1,565  5,490 

Consumer Product Revenue and Other Revenue

QVC's revenue includes sales of consumer products in the following categories; home, apparel, beauty, 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.