Quarterly report [Sections 13 or 15(d)]

Information About QVC Group's Operating Segments (Tables)

v3.26.1
Information About QVC Group's Operating Segments (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting, Disclosure of Other Information about Entity's Reportable Segments [Abstract]  
Schedule of Disaggregation of Revenue
Disaggregated total revenue, net by segment and product category consisted of the following:
Three months ended
March 31, 2026
QxH QVC Int'l CBI Total
in millions
Home $ 497  223  147  867 
Apparel 247  96  41  384 
Beauty 179  115  —  294 
Accessories 147  48  —  195 
Jewelry 65  37  —  102 
Electronics 60  19  —  79 
Other revenue 36  —  —  36 
Total revenue, net $ 1,231  538  188  1,957 
Three months ended
March 31, 2025
QxH QVC Int'l CBI Total
in millions
Home $ 538  223  160  921 
Apparel 258  99  40  397 
Beauty 211  120  —  331 
Accessories 173  46  —  219 
Jewelry 63  33  —  96 
Electronics 89  15  —  104 
Other revenue 36  1  —  37 
Total revenue, net $ 1,368  537  200  2,105 
Schedule of Performance Measures
Other performance measures reviewed by the CODM are as follows:
Three months ended March 31, 2026
QxH QVC Int'l CBI Corporate and other Total
amounts in millions
Total revenue, net $ 1,231  538  188  —  1,957 
Cost of goods sold (excluding depreciation and amortization) 824  356  108  —  1,288 
Gross profit 407  182  80  —  669 
Operating expense 92  45  9  —  146 
Advertising expense 70  8  41  —  119 
SG&A (excluding stock-based compensation, advertising and pre-petition charges) 153  80  39  6  278 
Adjusted OIBDA $ 92  49  (9) (6) 126 
Three months ended March 31, 2025
QxH QVC Int'l CBI Corporate and other Total
amounts in millions
Total revenue, net $ 1,368  537  200  —  2,105 
Cost of goods sold (excluding depreciation and amortization) 923  348  115  —  1,386 
Gross profit 445  189  85  —  719 
Operating expense 111  43  9  —  163 
Advertising expense 55  8  39  —  102 
SG&A (excluding stock-based compensation, advertising and pre-petition charges) 157  75  41  4  277 
Adjusted OIBDA $ 122  63  (4) (4) 177 
Schedule of Other Information by Segment
March 31, 2026 December 31, 2025
Total assets Property and equipment, net Total assets Property and equipment, net
amounts in millions
QxH (1)
$ 4,377  159  4,780  166 
QVC International 1,870  140  1,927  150 
CBI 473  85  495  85 
Corporate and other 355  —  441  — 
Consolidated QVC Group $ 7,075  384  7,643  401 
(1) QxH Property and equipment, net as of March 31, 2026 and December 31, 2025 excludes assets classified as assets held for sale in the condensed consolidated balance sheet.
March 31, 2026 March 31, 2025
Depreciation Amortization Capital Expenditures Depreciation Amortization Capital Expenditures
amounts in millions
QxH $ 9  52  28  28  55  25 
QVC International 6  7  4  6  6  5 
CBI 3  3  4  4  3  4 
Consolidated QVC Group $ 18  62  36  38  64  34 
Schedule of Reconciliation of Adjusted OIBDA to Operating Income (Loss) and Earnings (Loss) Before Income Taxes
The following table provides a reconciliation of Adjusted OIBDA to Operating income (loss) and Earnings (loss) before income taxes:
Three months ended
March 31,
2026 2025
amounts in millions
Adjusted OIBDA $ 126  177 
Depreciation and amortization (80) (102)
Gain (loss) on sale of assets 10  — 
Pre-petition charges (41) — 
Stock-based compensation —  (4)
Restructuring benefits (costs) —  (57)
Operating income (loss) 15  14 
Interest expense (132) (112)
Realized and unrealized gains (losses) on financial instruments, net 79  (15)
Interest and dividend income 12  8 
Other, net 1  2 
Earnings (loss) before income taxes $ (25) (103)