Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

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Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues $ 2,111 $ 2,193
Cost of goods sold (exclusive of depreciation and amortization shown separately below) 1,373 1,488
Operating costs and expenses:    
Operating 170 178
Selling, general and administrative, including transaction related costs and stock-based compensation 320 325
Depreciation 20 23
Amortization 72 66
Restructuring, penalties and fire related costs, net of (recoveries) (note 10) 0 (4)
Gain (Loss) on Disposition of Assets (1) (113)
Operating expenses 1,954 1,963
Operating income 157 230
Other (expense) income:    
Gain (Loss) on Derivative Instruments, Net, Pretax 0 (1)
Interest expense, net (62) (37)
Foreign currency loss (1) (6)
Nonoperating Income (Expense) (63) (44)
Income before income taxes 94 186
Income tax expense (32) (51)
Net income 62 135
Less net income attributable to the noncontrolling interest (11) (13)
Net income attributable to QVC, Inc. stockholder $ 51 $ 122