Annual report pursuant to Section 13 and 15(d)

Other Comprehensive Earnings (Loss)

v3.24.0.1
Other Comprehensive Earnings (Loss)
12 Months Ended
Dec. 31, 2023
Other Comprehensive Earnings (Loss)  
Other Comprehensive Earnings (Loss)

(13) Other Comprehensive Earnings (Loss)

Accumulated other comprehensive earnings (loss) included in the Company’s consolidated balance sheets and consolidated statements of equity reflect the aggregate of foreign currency translation adjustments, comprehensive earnings (loss) attributable to debt credit risk adjustments and the Company's share of accumulated other comprehensive earnings of affiliates.

The change in the components of accumulated other comprehensive earnings (loss), net of taxes ("AOCI"), is summarized as follows:

    

    

Comprehensive

    

 

Foreign

    

Share of

Earnings (loss)

currency

AOCI

Attributable to

 

translation

of equity

Credit Risk

 

adjustments

affiliates

Adjustments

Other

AOCI

 

amounts in millions

 

Balance at January 1, 2021

$

(70)

 

(5)

 

57

90

 

72

Other comprehensive earnings (loss) attributable to Qurate Retail, Inc. stockholders

 

(113)

(36)

(2)

(151)

Balance at December 31, 2021

(183)

 

(5)

 

21

88

 

(79)

Other comprehensive earnings (loss) attributable to Qurate Retail, Inc. stockholders

(166)

277

(14)

97

Balance at December 31, 2022

$

(349)

 

(5)

 

298

74

 

18

Other comprehensive earnings (loss) attributable to Qurate Retail, Inc. stockholders

23

5

84

(44)

68

Balance at December 31, 2023

$

(326)

 

 

382

30

 

86

The components of other comprehensive earnings (loss) are reflected in Qurate Retail's consolidated statements of comprehensive earnings (loss) net of taxes.  The following table summarizes the tax effects related to each component of other comprehensive earnings (loss).

    

    

    

Tax

    

    

 

Before-tax

(expense)

Net-of-tax

 

amount

benefit

amount

 

amounts in millions

 

Year ended December 31, 2023:

Foreign currency translation adjustments

$

17

 

(2)

 

15

Recognition of previously unrealized losses (gains) on debt, net

 

(60)

 

17

 

(43)

Comprehensive earnings (loss) attributable to credit risk adjustments

111

(27)

84

Other

5

5

Other comprehensive earnings (loss)

$

73

 

(12)

 

61

Year ended December 31, 2022:

 

Foreign currency translation adjustments

$

(185)

 

3

 

(182)

Recognition of previously unrealized losses (gains) on debt, net

(18)

 

4

 

(14)

Comprehensive earnings (loss) attributable to credit risk adjustments

 

365

(88)

277

Other comprehensive earnings (loss)

$

162

 

(81)

 

81

Year ended December 31, 2021:

Foreign currency translation adjustments

$

(124)

 

(4)

 

(128)

Recognition of previously unrealized losses (gains) on debt, net

(3)

 

2

 

(1)

Comprehensive earnings (loss) attributable to credit risk adjustments

 

(42)

6

(36)

Other comprehensive earnings (loss)

$

(169)

 

4

 

(165)