Quarterly report pursuant to Section 13 or 15(d)

Goodwill (Tables)

v3.23.2
Goodwill (Tables)
 6 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of goodwill
The changes in the carrying amount of goodwill by operating segment for the six months ended June 30, 2023 were as follows:
(in millions) QxH QVC-International Total
Balance as of December 31, 2022 $ 2,692  778  3,470 
Exchange rate fluctuations —  (1) (1)
Balance as of June 30, 2023 $ 2,692  777  3,469 
Schedule of acquired intangible assets by class
Other intangible assets consisted of the following:
June 30, 2023 December 31, 2022
(in millions) Gross
cost		 Accumulated
amortization		 Other intangible assets, net Gross
cost		 Accumulated
amortization		 Other intangible assets, net
Purchased and internally developed software $ 1,015  (736) 279  962  (670) 292 
Affiliate and customer relationships 2,823  (2,659) 164  2,818  (2,630) 188 
Debt origination fees 9  (4) 5  9  (3) 6 
Trademarks (indefinite life) 2,698  —  2,698  2,698  —  2,698 
$ 6,545  (3,399) 3,146  6,487  (3,303) 3,184 
Schedule of finite-lived intangible assets future amortization expense
As of June 30, 2023, the related amortization and interest expense for each of the next five years ended December 31 was as follows (in millions):
Remainder of 2023 $ 106 
2024 168 
2025 109 
2026 65 
2027 — 
QVC’s results have been challenged as a result of current business trends and global economic conditions. The Company will continue to monitor its current business performance versus the current and updated long-term forecasts, among other relevant considerations, to determine if the carrying value of its assets (including Goodwill and Trademarks) are appropriate. Future outlook declines in revenue, cash flows, or other factors could result in a sustained decrease in fair value that may result in a determination that material carrying value adjustments are required.