Information About QVC Group's Operating Segments (Tables)
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12 Months Ended |
Dec. 31, 2024 |
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| Information About QVC Group's Operating Segments |
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| Schedule of performance measures |
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Year ended December 31, 2024 |
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QxH |
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QVC Int'l |
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CBI |
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Corporate and other |
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Total |
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amounts in millions |
|
Net Revenue |
|
$ |
6,598 |
|
2,399 |
|
1,040 |
|
— |
|
10,037 |
|
Cost of goods sold |
|
|
4,373 |
|
1,532 |
|
619 |
|
— |
|
6,524 |
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Gross profit |
|
|
2,225 |
|
867 |
|
421 |
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— |
|
3,513 |
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Operating expense |
|
|
512 |
|
181 |
|
41 |
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— |
|
734 |
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Advertising expense |
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|
277 |
|
35 |
|
172 |
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— |
|
484 |
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Selling, general and administrative expense (excluding stock based compensation and advertising) |
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|
671 |
|
318 |
|
172 |
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31 |
|
1,192 |
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Adjusted OIBDA |
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$ |
765 |
|
333 |
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36 |
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(31) |
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1,103 |
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Year ended December 31, 2023 |
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QxH |
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QVC Int'l |
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CBI |
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Corporate and other |
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Total |
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amounts in millions |
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Net Revenue |
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$ |
6,995 |
|
2,454 |
|
1,165 |
|
301 |
|
10,915 |
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Cost of goods sold (excluding depreciation and amortization) |
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|
4,711 |
|
1,562 |
|
717 |
|
240 |
|
7,230 |
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Gross profit |
|
|
2,284 |
|
892 |
|
448 |
|
61 |
|
3,685 |
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Operating expense |
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|
549 |
|
190 |
|
45 |
|
11 |
|
795 |
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Advertising expense |
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|
251 |
|
38 |
|
178 |
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30 |
|
497 |
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Selling, general and administrative expense (excluding stock based compensation and advertising) |
|
|
738 |
|
339 |
|
158 |
|
84 |
|
1,319 |
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Adjusted OIBDA |
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$ |
746 |
|
325 |
|
67 |
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(64) |
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1,074 |
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Year ended December 31, 2022 |
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QxH |
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QVC Int'l |
|
CBI |
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Corporate and other |
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Total |
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amounts in millions |
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Net Revenue |
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$ |
7,359 |
|
2,528 |
|
1,313 |
|
906 |
|
12,106 |
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Cost of goods sold (excluding depreciation, amortization, and Rocky Mount inventory losses) |
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|
5,131 |
|
1,620 |
|
850 |
|
721 |
|
8,322 |
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Gross profit |
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|
2,228 |
|
908 |
|
463 |
|
185 |
|
3,784 |
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Operating expense |
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|
562 |
|
198 |
|
48 |
|
27 |
|
835 |
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Advertising expense |
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|
259 |
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39 |
|
166 |
|
72 |
|
536 |
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Selling, general and administrative expense (excluding stock based compensation and advertising) |
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|
657 |
|
313 |
|
171 |
|
208 |
|
1,349 |
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Adjusted OIBDA |
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$ |
750 |
|
358 |
|
78 |
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(122) |
|
1,064 |
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| Schedule of other information by segment |
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December 31, 2024 |
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December 31, 2023 |
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Total |
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Capital |
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Total |
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Capital |
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assets |
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expenditures |
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assets |
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expenditures |
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amounts in millions |
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QxH |
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$ |
6,388 |
|
122 |
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8,088 |
|
128 |
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QVC International |
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1,761 |
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51 |
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1,892 |
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54 |
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CBI |
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|
567 |
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26 |
|
566 |
|
45 |
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Corporate and other |
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|
527 |
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— |
|
822 |
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3 |
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Consolidated QVC Group |
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$ |
9,243 |
|
199 |
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11,368 |
|
230 |
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| Schedule of reconciliation of adjusted OIBDA to operating income and earnings (loss) from continuing operations before income taxes |
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Years ended December 31, |
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2024 |
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2023 |
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2022 |
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amounts in millions |
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Consolidated segment Adjusted OIBDA |
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$ |
1,103 |
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1,074 |
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1,064 |
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Stock-based compensation |
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(32) |
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(53) |
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(60) |
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Depreciation and amortization |
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(383) |
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(407) |
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(481) |
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Restructuring, penalties and fire related (costs), net of recoveries |
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(18) |
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189 |
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(3) |
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Gains on sale of assets and sale leaseback transactions |
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|
1 |
|
113 |
|
520 |
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Impairment of intangible assets |
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(1,480) |
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(326) |
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(3,081) |
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Operating income |
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(809) |
|
590 |
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(2,041) |
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Interest expense |
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(468) |
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(451) |
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(456) |
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Interest and dividend income |
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50 |
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52 |
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10 |
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Realized and unrealized gains (losses) on financial instruments, net |
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(60) |
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(61) |
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55 |
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Loss on disposition of Zulily, net |
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— |
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(64) |
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— |
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Tax sharing income (expense) with Liberty Broadband |
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(4) |
|
(11) |
|
79 |
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Other, net |
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— |
|
11 |
|
45 |
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Earnings (loss) from continuing operations before income taxes |
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$ |
(1,291) |
|
66 |
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(2,308) |
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| Schedule of revenue by geographic area |
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Years ended December 31, |
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2024 |
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2023 |
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2022 |
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amounts in millions |
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United States |
|
$ |
7,638 |
|
8,442 |
|
9,514 |
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Japan |
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|
870 |
|
945 |
|
1,017 |
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Germany |
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|
785 |
|
788 |
|
813 |
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Other foreign countries |
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|
744 |
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740 |
|
762 |
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$ |
10,037 |
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10,915 |
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12,106 |
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| Schedule of long-lived assets by geographic area |
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December 31, |
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2024 |
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2023 |
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amounts in millions |
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U.S. |
|
$ |
351 |
|
348 |
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Japan |
|
|
81 |
|
91 |
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Germany |
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|
21 |
|
19 |
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Other foreign countries |
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|
49 |
|
54 |
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$ |
502 |
|
512 |
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