Quarterly report pursuant to Section 13 or 15(d)

Information about QVC's Operating Segments (Tables)

v3.23.3
Information about QVC's Operating Segments (Tables)
 9 Months Ended
Sep. 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 September 30, 2023 Nine months ended September 30, 2023
(in millions) QxH QVC-International Total QxH QVC-International Total
Home $ 631  220  851  1,868  701  2,569 
Apparel 304  105  409  939  329  1,268 
Beauty 235  141  376  745  417  1,162 
Accessories 204  49  253  619  156  775 
Electronics 124  16  140  316  48  364 
Jewelry 76  44  120  218  118  336 
Other revenue 43  2  45  131  6  137 
Total net revenue $ 1,617  577  2,194  4,836  1,775  6,611 

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 
Schedule of Revenue and Adjusted OIBDA by Segment
Adjusted OIBDA is summarized as follows:
Three months ended September 30, Nine months ended September 30,
2023 2022 2023 2022
(in millions) Net
revenue		 Adjusted
OIBDA		 Net
revenue		 Adjusted
OIBDA		 Net
revenue		 Adjusted
OIBDA		 Net
revenue		 Adjusted
OIBDA
QxH $ 1,617  201  1,663  143  4,836  525  5,101  600 
QVC-International 577  77  554  62  1,775  226  1,862  261 
   Consolidated QVC $ 2,194  278  2,217  205  6,611  751  6,963  861 
Schedule of Depreciation and Amortization by Segment
Other information
Three months ended September 30, Nine months ended September 30,
2023 2022 2023 2022
(in millions) Depreciation Amortization Depreciation Amortization Depreciation Amortization Depreciation Amortization
QxH $ 15  71  17  70  44  201  62  207 
QVC-International 8  4  4  3  24  12  26  10 
Consolidated QVC $ 23  75  21  73  68  213  88  217 
Schedule of Capital Expenditures and Total Assets by Segment
September 30, 2023
(in millions) Total
assets		 Capital
expenditures		 Property and equipment, net
QxH $ 9,947  83  257 
QVC-International 1,800  33  169 
Consolidated QVC $ 11,747  116  426 
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 September 30, Nine months ended September 30,
(in millions) 2023 2022 2023 2022
Adjusted OIBDA $ 278  205  751  861 
Gains on sale of intangible asset and sale leaseback transactions —  277  119  520 
Restructuring, penalties and fire related costs, net of recoveries (including Rocky Mount inventory losses) (19) 137  196  39 
Impairment losses —  (2,600) —  (2,600)
Stock-based compensation (7) (9) (27) (27)
Depreciation and amortization (98) (94) (281) (305)
Operating income (loss) 154  (2,084) 758  (1,512)
(Losses) gains on financial instruments —  —  (1) 1 
Interest expense, net (63) (50) (167) (175)
Foreign currency gain (loss) 6  21  (3) 50 
Gain (loss) on extinguishment of debt —  —  10  (6)
Other income —  —  —  20 
Income (loss) before income taxes $ 97  (2,113) 597  (1,622)