Quarterly report pursuant to Section 13 or 15(d)

Information about QVC's Operating Segments (Tables)

v3.23.2
Information about QVC's Operating Segments (Tables)
 6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Disaggregation of Revenue [Table Text Block]
Disaggregated revenue by segment and product category consisted of the following:
Three months ended June 30, 2023 Six months ended June 30, 2023
(in millions) QxH QVC-International Total QxH QVC-International Total
Home $ 602  244  846  1,237  481  1,718 
Apparel 340  111  451  635  224  859 
Beauty 264  143  407  510  276  786 
Accessories 223  56  279  415  107  522 
Electronics 82  15  97  192  32  224 
Jewelry 65  35  100  142  74  216 
Other revenue 42  2  44  88  4  92 
Total net revenue $ 1,618  606  2,224  3,219  1,198  4,417 
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 
Schedule of Revenue and Adjusted OIBDA by Segment
Three months ended June 30, Six months ended June 30,
2023 2022 2023 2022
(in millions) Net
revenue		 Adjusted
OIBDA		 Net
revenue		 Adjusted
OIBDA		 Net
revenue		 Adjusted
OIBDA		 Net
revenue		 Adjusted
OIBDA
QxH $ 1,618  185  1,754  232  3,219  324  3,438  457 
QVC-International 606  77  638  95  1,198  149  1,308  199 
   Consolidated QVC $ 2,224  262  2,392  327  4,417  473  4,746  656 
Schedule of Depreciation and Amortization by Segment
Three months ended June 30, Six months ended June 30,
2023 2022 2023 2022
(in millions) Depreciation Amortization Depreciation Amortization Depreciation Amortization Depreciation Amortization
QxH $ 14  67  22  66  29  130  45  137 
QVC-International 8  5  10  4  16  8  22  7 
Consolidated QVC $ 22  72  32  70  45  138  67  144 
Schedule of Capital Expenditures and Total Assets by Segment
June 30, 2023
(in millions) Total
assets		 Capital
expenditures		 Property and equipment, net
QxH $ 10,217  61  262 
QVC-International 1,884  18  177 
Consolidated QVC $ 12,101  79  439 
Reconciliation of Adjusted OIBDA to Income before Income Taxes
The following table provides a reconciliation of Adjusted OIBDA to operating income and income before income taxes:
Three months ended June 30, Six months ended June 30,
(in millions) 2023 2022 2023 2022
Adjusted OIBDA $ 262  327  473  656 
Gains on sale of intangible asset and sale leaseback transactions 6  243  119  243 
Restructuring and fire related (costs), net of recoveries (including Rocky Mount inventory losses)
 211  (16) 215  (98)
Stock-based compensation (11) (10) (20) (18)
Depreciation and amortization (94) (102) (183) (211)
Operating income 374  442  604  572 
(Losses) gains on financial instruments —  —  (1) 1 
Interest expense, net (67) (63) (104) (125)
Foreign currency (loss) gain (3) 21  (9) 29 
Gain (loss) on extinguishment of debt 10  (6) 10  (6)
Other income —  —  —  20 
Income before income taxes $ 314  394  500  491