Annual report pursuant to Section 13 and 15(d)

Other Comprehensive Earnings (Loss)

v3.22.0.1
Other Comprehensive Earnings (Loss)
12 Months Ended
Dec. 31, 2021
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

Debt Credit Risk

 

adjustments

affiliates

Adjustments

Other

AOCI

 

amounts in millions

 

Balance at January 1, 2019

$

(180)

 

(5)

 

38

92

 

(55)

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

 

(1)

2

(1)

Balance at December 31, 2019

(181)

 

(5)

 

40

91

 

(55)

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

111

17

(1)

127

Balance at December 31, 2020

$

(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)

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, 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 debt credit risk adjustments

(42)

6

(36)

Other comprehensive earnings (loss)

$

(169)

 

4

 

(165)

Year ended December 31, 2020:

 

Foreign currency translation adjustments

$

115

 

3

 

118

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

(1)

 

 

(1)

Comprehensive earnings (loss) attributable to debt credit risk adjustments

 

22

(5)

17

Other comprehensive earnings (loss)

$

136

 

(2)

 

134

Year ended December 31, 2019:

Foreign currency translation adjustments

$

 

1

 

1

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

(1)

 

 

(1)

Comprehensive earnings (loss) attributable to debt credit risk adjustments

 

1

1

Other comprehensive earnings (loss)

$

 

1

 

1