| Other Comprehensive Income The change in the components of accumulated other comprehensive loss, net of taxes ("AOCL"), is summarized as follows:
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|
| (in millions) |
Comprehensive earnings attributable to debt credit risk adjustments |
Foreign currency translation adjustments |
AOCL |
| Balance at January 1, 2022 |
$ |
— |
|
(146) |
|
(146) |
|
| Other comprehensive loss attributable to QVC, Inc. stockholder |
— |
|
(305) |
|
(305) |
|
| Balance at September 30, 2022 |
— |
|
(451) |
|
(451) |
|
|
|
|
|
| Balance at January 1, 2021 |
$ |
16 |
|
(33) |
|
(17) |
|
| Other comprehensive loss attributable to QVC, Inc. stockholder |
(19) |
|
(82) |
|
(101) |
|
| Balance at September 30, 2021 |
(3) |
|
(115) |
|
(118) |
|
The components of other comprehensive loss are reflected in QVC's condensed consolidated statements of comprehensive income, net of taxes. The following table summarizes the tax effects related to the components of other comprehensive loss:
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| (in millions) |
Before-tax amount |
Tax benefit (expense) |
Net-of-tax amount |
| Three months ended September 30, 2022 |
|
|
|
| Foreign currency translation adjustments |
$ |
(131) |
|
4 |
|
(127) |
|
| Other comprehensive loss |
(131) |
|
4 |
|
(127) |
|
|
|
|
|
| Three months ended September 30, 2021 |
|
|
|
| Foreign currency translation adjustments |
$ |
(27) |
|
(1) |
|
(28) |
|
| Debt credit risk adjustment |
(7) |
|
— |
|
(7) |
|
| Other comprehensive loss |
(34) |
|
(1) |
|
(35) |
|
|
|
|
|
| Nine months ended September 30, 2022 |
|
|
|
| Foreign currency translation adjustments |
$ |
(337) |
|
7 |
|
(330) |
|
| Other comprehensive loss |
(337) |
|
7 |
|
(330) |
|
|
|
|
|
| Nine months ended September 30, 2021 |
|
|
|
| Foreign currency translation adjustments |
$ |
(89) |
|
(3) |
|
(92) |
|
| Debt credit risk adjustment |
(19) |
|
— |
|
(19) |
|
| Other comprehensive loss |
(108) |
|
(3) |
|
(111) |
|
|