Quarterly report [Sections 13 or 15(d)]

Goodwill and Intangibles

v3.25.1
Goodwill and Intangibles
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure Intangible Assets
The changes in the carrying amount of goodwill by operating segment for the three months ended March 31, 2025 were as follows:
(in millions) QxH QVC Int'l Total
Balance as of December 31, 2024 $ 1,464  740  2,204 
Exchange rate fluctuations —  26  26 
Balance as of March 31, 2025 $ 1,464  766  2,230 
Intangible assets subject to amortization consisted of the following:
March 31, 2025 December 31, 2024
(in millions) Gross
cost		 Accumulated
amortization		 Intangible assets subject to amortization, net Gross
cost		 Accumulated
amortization		 Intangible assets subject to amortization, net
Purchased and internally developed software $ 1,129  (888) 241  1,094  (852) 242 
Affiliate and customer relationships 2,822  (2,740) 82  2,816  (2,722) 94 
Television distribution rights 531  (454) 77  535  (489) 46 
Debt origination fees 9  (7) 2  9  (6) 3 
$ 4,491  (4,089) 402  4,454  (4,069) 385 
The Company recorded amortization expense of $61 million and $72 million for the three months ended March 31, 2025 and 2024, respectively, related to intangible assets with finite useful lives.
As of March 31, 2025, the related amortization and interest expense for each of the next five years ended December 31 was as follows (in millions):
Remainder of 2025 $ 174 
2026 169 
2027 45 
2028 10 
2029 4