Quarterly report pursuant to Section 13 or 15(d)

Information about QVC's Operating Segments (Tables)

v3.24.3
Information about QVC's Operating Segments (Tables)
 9 Months Ended
Sep. 30, 2024
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, 2024 Nine months ended September 30, 2024
(in millions) QxH QVC-International Total QxH QVC-International Total
Home $ 611  226  837  1,796  684  2,480 
Apparel 294  98  392  904  311  1,215 
Beauty 225  135  360  703  405  1,108 
Accessories 185  52  237  598  153  751 
Electronics 104  17  121  285  48  333 
Jewelry 63  43  106  216  115  331 
Other revenue 39  —  39  116  3  119 
Total net revenue $ 1,521  571  2,092  4,618  1,719  6,337 

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 
Schedule of Revenue and Adjusted OIBDA by Segment
Adjusted OIBDA is summarized as follows:
Three months ended September 30, Nine months ended September 30,
2024 2023 2024 2023
(in millions) Net
revenue		 Adjusted
OIBDA		 Net
revenue		 Adjusted
OIBDA		 Net
revenue		 Adjusted
OIBDA		 Net
revenue		 Adjusted
OIBDA
QxH $ 1,521  182  1,617  201  4,618  561  4,836  525 
QVC-International 571  70  577  77  1,719  222  1,775  226 
   Consolidated QVC $ 2,092  252  2,194  278  6,337  783  6,611  751 
Schedule of Depreciation and Amortization by Segment
Other information
Three months ended September 30, Nine months ended September 30,
2024 2023 2024 2023
(in millions) Depreciation Amortization Depreciation Amortization Depreciation Amortization Depreciation Amortization
QxH $ 12  62  15  71  39  192  44  201 
QVC-International 7  6  8  4  19  17  24  12 
Consolidated QVC $ 19  68  23  75  58  209  68  213 
Schedule of Capital Expenditures and Total Assets by Segment
September 30, 2024
(in millions) Total
assets		 Capital
expenditures		 Property and equipment, net
QxH $ 9,570  89  251 
QVC-International 1,836  29  159 
Consolidated QVC $ 11,406  118  410 
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) 2024 2023 2024 2023
Adjusted OIBDA $ 252  278  783  751 
Gains on sales of assets and sale-leaseback transactions —  —  1  119 
Restructuring, penalties and fire related (costs), net of recoveries (including Rocky Mount inventory losses) —  (19) (18) 196 
Stock-based compensation (1) (7) (15) (27)
Depreciation and amortization (87) (98) (267) (281)
Operating income 164  154  484  758 
Losses on financial instruments —  —  —  (1)
Interest expense, net (62) (63) (191) (167)
Foreign currency (loss) gain (6) 6  (6) (3)
Gain on extinguishment of debt —  —  —  10 
Other expense $ (7) —  (7) — 
Income before income taxes $ 89  97  280  597