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 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Revenues $ 2,092 $ 2,194 $ 6,337 $ 6,611
Operating costs and expenses        
Cost of goods sold (exclusive of depreciation and amortization shown separately below) 1,366 1,424 4,113 4,368
Operating 165 175 502 530
Selling, general and administrative, including stock-based compensation 310 324 954 989
Depreciation 19 23 58 68
Amortization 68 75 209 213
Restructuring, penalties and fire related costs, net of (recoveries) (note 10) 0 19 18 (196)
Gains on sales of assets and sale-leaseback transactions 0 0 (1) (119)
Operating expenses 1,928 2,040 5,853 5,853
Operating income 164 154 484 758
Other (expense) income:        
Losses on financial instruments 0 0 0 (1)
Interest expense, net (62) (63) (191) (167)
Foreign currency (loss) gain (6) 6 (6) (3)
Gain on extinguishment of debt 0 0 0 10
Other Income (7) 0 (7) 0
Nonoperating Income (Expense) (75) (57) (204) (161)
Income before income taxes 89 97 280 597
Income tax expense (27) (34) (90) (173)
Net income 62 63 190 424
Less net income attributable to the noncontrolling interest (11) (12) (35) (38)
Net income attributable to QVC, Inc. stockholder $ 51 $ 51 $ 155 $ 386