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(5) Intangible Assets
Goodwill
Changes in the carrying amount of goodwill for the three months ended March 31, 2026 were as follows:
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QVC Int'l |
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amounts in millions |
| Balance at December 31, 2025 |
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$ |
800 |
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| Foreign currency translation adjustments |
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(18) |
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| Balance at March 31, 2026 |
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$ |
782 |
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As of March 31, 2026 and December 31, 2025, there were no goodwill balances at QxH and CBI.
Intangible Assets
Other intangible assets consist of the following:
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March 31, 2026 |
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December 31, 2025 |
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Gross carrying amount |
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Accumulated amortization |
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Intangible assets, net |
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Gross carrying amount |
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Accumulated amortization |
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Intangible assets, net |
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amounts in millions |
| Purchased and internally developed software |
$ |
1,243 |
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(1,044) |
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199 |
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1,230 |
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(1,015) |
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215 |
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| Affiliate and customer relationships |
2,831 |
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(2,795) |
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36 |
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2,835 |
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(2,788) |
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47 |
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| Television distribution rights |
155 |
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(98) |
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57 |
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161 |
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(93) |
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68 |
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| Other |
55 |
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(49) |
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6 |
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54 |
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(48) |
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6 |
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| Intangible assets subject to amortization |
$ |
4,284 |
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(3,986) |
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298 |
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4,280 |
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(3,944) |
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336 |
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| Tradenames (indefinite life) |
$ |
1,190 |
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1,190 |
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1,190 |
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1,190 |
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As of March 31, 2026, QVC Group expects that amortization expense will be as follows for the next five years (amounts in millions):
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| Remainder of 2026 |
$ |
170 |
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| 2027 |
85 |
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| 2028 |
37 |
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| 2029 |
6 |
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| 2030 |
— |
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\\\\\
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