Qurate Retail, Inc. Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017


	Years ended December 31,
	2017		2016	2015
	amounts in millions
Computed expected tax benefit (expense)	$	(533)	(649)	(286)
State and local income taxes, net of federal income taxes		(26)	(26)	(15)
Foreign taxes, net of foreign tax credits		(32)	(9)	(5)
Dividends received deductions		10	9	51
Alternative energy tax credits and incentives		85	94	61
Change in valuation allowance affecting tax expense		(101)	(16)	6
Change in tax rate due to Tax Act		1,485	—	—
Change in state tax rate		(84)	1	(7)
Consolidation of equity investment		138	—	—
Other, net		22	(2)	10
Income tax benefit (expense)	$	964	(598)	(185)


	December 31,
	2017		2016
	amounts in millions
Deferred tax assets:
Net operating and capital loss carryforwards	$	160	123
Foreign tax credit carryforwards		98	134
Accrued stock compensation		51	56
Other accrued liabilities		19	118
Other future deductible amounts		190	144
Deferred tax assets		518	575
Valuation allowance		(165)	(64)
Net deferred tax assets		353	511

Deferred tax liabilities:
Investments		903	1,057
Intangible assets		1,188	1,540
Discount on exchangeable debentures		981	1,404
Deferred gain on debt retirements		43	129
Other		41	17
Deferred tax liabilities		3,156	4,147
Net deferred tax liabilities	$	2,803	3,636


	Years ended December 31,
	2017		2016	2015
	amounts in millions
Balance at beginning of year	$	72	104	136
Additions based on tax positions related to the current year		10	16	14
Additions for tax positions of prior years		4	—	—
Reductions for tax positions of prior years		—	(26)	(12)
Lapse of statute and settlements		(15)	(22)	(34)
Balance at end of year	$	71	72	104