QVC Group, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Information about QVC's Operating Segments (Tables)

Information about QVC's Operating Segments (Tables)

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Schedule of Revenue and Adjusted OIBDA by Segment



	Three months ended September 30,									Nine months ended September 30,
	2019					2018				2019				2018
(in millions)	Net revenue			Adjusted OIBDA		Net revenue		Adjusted OIBDA		Net revenue		Adjusted OIBDA		Net revenue		Adjusted OIBDA
QxH	$	1,854		346		1,929		371		5,585		1,093		5,755		1,141
QVC-International	650			106		640		93		1,934		313		1,972		300
Consolidated QVC	$	2,504		452		2,569		464		7,519		1,406		7,727		1,441

Schedule of Depreciation and Amortization by Segment



	Three months ended September 30,									Nine months ended September 30,
	2019					2018				2019				2018
(in millions)	Depreciation			Amortization		Depreciation		Amortization		Depreciation		Amortization		Depreciation		Amortization
QxH	$	29		65		29		63		85		201		88		168
QVC-International	14			4		14		2		58		10		42		8
Consolidated QVC	$	43		69		43		65		143		211		130		176

Schedule of Capital Expenditures and Total Assets by Segment



	September 30, 2019
(in millions)	Total assets			Capital expenditures		Property and equipment, net
QxH	$	12,472		202		778
QVC-International	2,160			23		401
Consolidated QVC	$	14,632		225		1,179

Reconciliation of Adjusted OIBDA to Income before Income Taxes

The following table provides a reconciliation of Adjusted OIBDA to operating income and income before income taxes:



	Three months ended September 30,					Nine months ended September 30,
(in millions)	2019			2018		2019		2018
Adjusted OIBDA	$	452		464		1,406		1,441
Transaction related costs	—			(41	)	(1	)	(50	)
Stock-based compensation	(10		)	(10	)	(30	)	(34	)
Depreciation and amortization	(112		)	(108	)	(354	)	(306	)
Operating income	330			305		1,021		1,051
Equity in losses of investee	—			(1	)	(1	)	(2	)
Losses on financial instruments	(2		)	(1	)	(5	)	—
Interest expense, net	(61		)	(50	)	(182	)	(183	)
Foreign currency loss	—			(1	)	(3	)	—
Income before income taxes	$	267		252		830		866