Quarterly report [Sections 13 or 15(d)]

Information about QVC's Operating Segments (Tables)

v3.25.1
Information about QVC's Operating Segments (Tables)
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Disaggregation of Revenue [Table Text Block]
Disaggregated revenue by segment and product category consisted of the following:
Three months ended March 31, 2025 Three months ended March 31, 2024
(in millions) QxH QVC Int'l Total QxH QVC Int'l Total
Home $ 538  223  761  589  237  826 
Apparel 258  99  357  282  108  390 
Beauty 211  120  331  239  129  368 
Accessories 173  46  219  201  48  249 
Electronics 89  15  104  108  15  123 
Jewelry 63  33  96  80  33  113 
Other revenue 36  1  37  40  2  42 
Total net revenue $ 1,368  537  1,905  1,539  572  2,111 
Schedule of Revenue and Adjusted OIBDA by Segment
Three months ended March 31, 2025 Three months ended March 31, 2024
(in millions) QxH QVC-Int'l Total QxH QVC-Int'l Total
Net revenue $ 1,368  537  1,905  1,539  572  2,111 
Costs of goods sold (exclusive of depreciation and amortization) 923  348  1,271  1,007  366  1,373 
Segment gross profit 445  189  634  532  206  738 
Operating expense 111  43  154  125  45  170 
Advertising 55  8  63  53  7  60 
Selling, general and administrative, excluding stock-based compensation and advertising 157  75  232  169  79  248 
Adjusted OIBDA $ 122  63  185  185  75  260 
Schedule of Capital Expenditures and Total Assets by Segment
March 31, 2025
(in millions) Total
assets		 Capital
expenditures		 Property and equipment, net
QxH $ 7,891  25  235 
QVC International 1,784  5  153 
Consolidated QVC $ 9,675  30  388 
March 31, 2024
(in millions) Total
assets		 Capital
expenditures		 Property and equipment, net
QxH $ 9,582  22  254 
QVC International 1,793  10  153 
Consolidated QVC $ 11,375  32  407 
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 March 31,
(in millions) 2025 2024
Adjusted OIBDA $ 185  260 
Gain on sale leaseback transaction —  1 
Restructuring costs (57) — 
Stock-based compensation (4) (12)
Depreciation and amortization (95) (92)
Operating income 29  157 
Interest expense, net (60) (62)
Foreign currency gain (loss) (4) (1)
(Loss) earnings before income taxes $ (35) 94