Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Operations

v3.25.3
Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Statement [Abstract]        
Total revenue, net $ 2,213 $ 2,344 $ 6,553 $ 7,093
Operating costs and expenses:        
Cost of goods sold (exclusive of depreciation and amortization shown separately below) 1,461 1,517 4,269 4,560
Operating expense 162 175 489 533
Selling, general and administrative, including stock-based compensation (note 3) 428 405 1,234 1,231
Depreciation and amortization 103 95 310 290
Impairment of goodwill and intangible assets (note 6) 0 0 2,395 0
Restructuring (benefits) costs (note 10) (1) 0 56 18
Gain on sale leaseback transaction 0 0 0 (1)
Total operating expenses 2,153 2,192 8,753 6,631
Operating income (loss) 60 152 (2,200) 462
Other income (expense):        
Interest expense (134) (117) (363) (353)
Realized and unrealized gains (losses) on financial instruments, net (note 5) (7) (36) (43) (53)
Other, net 25 1 35 22
Total other income (expense) (116) (152) (371) (384)
Earnings (loss) before income taxes (56) 0 (2,571) 78
Income tax (expense) benefit (17) (15) 198 (53)
Net earnings (loss) (73) (15) (2,373) 25
Less net earnings (loss) attributable to the noncontrolling interests 7 8 29 29
Net earnings (loss) attributable to QVC Group, Inc. shareholders $ (80) $ (23) $ (2,402) $ (4)
Basic net earnings (loss) attributable to Series A and Series B QVC Group, Inc. shareholders per common share (in dollars per share) $ (9.89) $ (0.06) $ (297.70) $ (0.01)
Diluted net earnings (loss) attributable to Series A and Series B QVC Group, Inc. shareholders per common share (in dollars per share) $ (9.89) $ (0.06) $ (297.70) $ (0.01)