Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v3.24.2.u1
Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Statement [Abstract]        
Revenues $ 2,134 $ 2,224 $ 4,245 $ 4,417
Operating costs and expenses:        
Cost of goods sold (exclusive of depreciation and amortization shown separately below) 1,374 1,456 2,747 2,944
Operating 167 177 337 355
Selling, general and administrative, including stock-based compensation 324 340 644 665
Depreciation 19 22 39 45
Amortization 69 72 141 138
Restructuring, penalties and fire related costs, net of (recoveries) (note 10) 18 (211) 18 (215)
Gains on sales of assets and sale leaseback transactions 0 (6) (1) (119)
Operating expenses 1,971 1,850 3,925 3,813
Operating income 163 374 320 604
Other (expense) income:        
Losses on financial instruments 0 0 0 (1)
Interest expense, net (67) (67) (129) (104)
Foreign currency gain (loss) 1 (3) 0 (9)
Gain on extinguishment of debt 0 10 0 10
Nonoperating Income (Expense) (66) (60) (129) (104)
Income before income taxes 97 314 191 500
Income tax expense (31) (88) (63) (139)
Net income 66 226 128 361
Less net income attributable to the noncontrolling interest (13) (13) (24) (26)
Net income attributable to QVC, Inc. stockholder $ 53 $ 213 $ 104 $ 335