| Intangible Assets Changes in the carrying amount of goodwill for the three months ended March 31, 2026 were as follows:
|
|
|
|
|
|
|
|
| (in millions) |
|
QVC-Int'l |
|
| Balance as of December 31, 2025 |
|
$ |
800 |
|
|
|
|
|
|
| Exchange rate fluctuations |
|
(18) |
|
|
| Balance as of March 31, 2026 |
|
$ |
782 |
|
|
As of March 31, 2026 and December 31, 2025, there were no goodwill balances at QxH.
Other intangible assets consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
December 31, 2025 |
| (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 |
$ |
1,128 |
|
(943) |
|
185 |
|
1,116 |
|
(917) |
|
199 |
|
| Affiliate and customer relationships |
2,831 |
|
(2,795) |
|
36 |
|
2,835 |
|
(2,788) |
|
47 |
|
| Television distribution rights |
155 |
|
(98) |
|
57 |
|
161 |
|
(93) |
|
68 |
|
| Debt origination fees |
9 |
|
(8) |
|
1 |
|
9 |
|
(8) |
|
1 |
|
| Intangible assets subject to amortization |
$ |
4,123 |
|
(3,844) |
|
279 |
|
4,121 |
|
(3,806) |
|
315 |
|
| Tradenames (indefinite life) |
$ |
1,190 |
|
|
1,190 |
|
1,190 |
|
|
1,190 |
|
As of March 31, 2026, the related amortization expense will be as follows for the next five years (in millions):
|
|
|
|
|
|
| Remainder of 2026 |
$ |
161 |
|
| 2027 |
77 |
|
| 2028 |
35 |
|
| 2029 |
6 |
|
| 2030 |
— |
|
|