Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Operations

v3.25.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenue:    
Total revenue, net $ 2,105 $ 2,342
Type of revenue us-gaap:RetailMember us-gaap:RetailMember
Operating costs and expenses:    
Cost of goods sold (exclusive of depreciation shown separately below) $ 1,386 $ 1,511
Type of cost of retail sales us-gaap:RetailMember us-gaap:RetailMember
Operating expense $ 163 $ 180
Selling, general and administrative, including stock-based compensation (note 2) 383 408
Depreciation and amortization 102 99
Restructuring costs (note 9) 57  
Gain on sale leaseback transactions   (1)
Total operating costs and expenses 2,091 2,197
Operating income (loss) 14 145
Other income (expense):    
Interest expense (112) (117)
Dividend and interest income 8 12
Realized and unrealized gains (losses) on financial instruments, net (note 4) (15) (7)
Other, net 2 (2)
Total other income (expense) (117) (114)
Earnings (loss) before income taxes (103) 31
Income tax (expense) benefit 12 (23)
Net earnings (loss) (91) 8
Less net earnings (loss) attributable to the noncontrolling interests 9 9
Net earnings (loss) attributable to QVC Group, Inc. shareholders $ (100) $ (1)
Basic net earnings (loss) attributable to Series A and Series B QVC Group, Inc. shareholders per common share (note 3): $ (0.25)  
Diluted net earnings (loss) attributable to Series A and Series B QVC Group, Inc. shareholders per common share (note 3): $ (0.25)