Quarterly report pursuant to Section 13 or 15(d)

Revenue (Notes)

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Revenue (Notes)
 9 Months Ended
Sep. 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 September 30, 2022 Nine months ended September 30, 2022
(in millions) QxH QVC-International Total QxH QVC-International Total
Home $ 621  208  829  1,950  729  2,679 
Apparel 330  100  430  982  334  1,316 
Beauty 252  129  381  766  419  1,185 
Accessories 190  49  239  633  162  795 
Electronics 152  20  172  411  71  482 
Jewelry 73  45  118  231  139  370 
Other revenue 45  3  48  128  8  136 
Total net revenue $ 1,663  554  2,217  5,101  1,862  6,963 
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 
Apparel 336  119  455  985  372  1,357 
Beauty 279  164  443  859  521  1,380 
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 

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.