Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v3.20.2
Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenue:        
Total revenue, net $ 3,383 $ 3,089 $ 9,725 $ 9,285
Type of revenue us-gaap:RetailMember us-gaap:RetailMember us-gaap:RetailMember us-gaap:RetailMember
Operating costs and expenses:        
Cost of retail sales (exclusive of depreciation shown separately below) $ 2,178 $ 2,026 $ 6,328 $ 6,045
Type of cost of retail sales us-gaap:RetailMember us-gaap:RetailMember us-gaap:RetailMember us-gaap:RetailMember
Operating expense $ 203 $ 200 $ 605 $ 593
Selling, general and administrative, including stock-based compensation (note 2) 455 424 1,323 1,273
Depreciation and amortization 141 146 427 457
Impairment of intangible assets   1,020   1,020
Total operating costs and expenses 2,977 3,816 8,683 9,388
Operating income (loss) 406 (727) 1,042 (103)
Other income (expense):        
Interest expense (98) (93) (290) (282)
Share of earnings (losses) of affiliates, net (32) (36) (96) (104)
Realized and unrealized gains (losses) on financial instruments, net (note 4) (12) (45) (127) (239)
Gains (losses) on transactions, net 223   224 (1)
Other, net (65) (4) (65) (18)
Total other income (expense) 16 (178) (354) (644)
Earnings (loss) before income taxes 422 (905) 688 (747)
Income tax (expense) benefit (70) 150 (111) 188
Net earnings (loss) 352 (755) 577 (559)
Less net earnings (loss) attributable to the noncontrolling interests 14 15 39 38
Net earnings (loss) attributable to Qurate Retail, Inc. shareholders $ 338 $ (770) $ 538 $ (597)
Earnings (Loss) Per Common Share        
Basic net earnings (loss) attributable to Series A and Series B Qurate Retail, Inc. Shareholders per common share (note 3) $ 0.81 $ (1.85) $ 1.29 $ (1.40)
Diluted net earnings (loss) attributable to Series A and Series B Qurate Retail, Inc. shareholders per common share (note 3) $ 0.80 $ (1.85) $ 1.28 $ (1.40)