Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Operations

v3.25.0.1
Consolidated Statements of Operations - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenue:      
Total revenue, net $ 10,037 $ 10,915 $ 12,106
Type of revenue us-gaap:RetailMember us-gaap:RetailMember us-gaap:RetailMember
Operating costs and expenses:      
Cost of goods sold (exclusive of depreciation shown separately below) $ 6,524 $ 7,230 $ 8,417
Type of cost of retail sales us-gaap:RetailMember us-gaap:RetailMember us-gaap:RetailMember
Operating expense $ 734 $ 795 $ 835
Selling, general and administrative, including stock-based compensation 1,708 1,869 1,945
Impairment of intangible assets (note 5) 1,480 326 3,081
Gains on sale of assets and sale leaseback transactions (1) (113) (520)
Restructuring, penalties and fire related costs, net of (recoveries) (note 14) 18 (189) (92)
Depreciation and amortization 383 407 481
Total operating costs and expenses 10,846 10,325 14,147
Operating income (loss) (809) 590 (2,041)
Other income (expense):      
Interest expense (468) (451) (456)
Dividend and interest income 50 52 10
Realized and unrealized gains (losses) on financial instruments, net (note 4) (60) (61) 55
Loss on disposition of Zulily, net (note 1)   (64)  
Tax sharing income (expense) with Liberty Broadband (4) (11) 79
Other, net   11 45
Total other income (expense) (482) (524) (267)
Earnings (loss) before income taxes (1,291) 66 (2,308)
Income tax (expense) benefit (note 8) 41 (160) (224)
Net earnings (loss) (1,250) (94) (2,532)
Less net earnings (loss) attributable to the noncontrolling interests 40 51 62
Net earnings (loss) attributable to QVC Group, Inc. shareholders $ (1,290) $ (145) $ (2,594)
Basic net earnings (loss) attributable to QVC Group, Inc. shareholders per common share (note 2): $ (3.26) $ (0.37) $ (6.83)
Diluted net earnings (loss) attributable to QVC Group, Inc. shareholders per common share (note 2): $ (3.26) $ (0.37) $ (6.83)