Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.23.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenue:    
Total revenue, net $ 2,644 $ 2,883
Type of revenue us-gaap:RetailMember us-gaap:RetailMember
Operating costs and expenses:    
Cost of goods sold (exclusive of depreciation shown separately below) $ 1,809 $ 2,002
Type of cost of retail sales us-gaap:RetailMember us-gaap:RetailMember
Operating expense $ 194 $ 196
Selling, general and administrative, including stock-based compensation (note 2) 478 445
Restructuring and fire related costs, net of (recoveries) (note 8)   4
Depreciation and amortization 100 130
Gain on sale leaseback transactions (note 8) (113)  
Total operating costs and expenses 2,468 2,777
Operating income (loss) 176 106
Other income (expense):    
Interest expense (94) (117)
Realized and unrealized gains (losses) on financial instruments, net (note 4) (47) 30
Gain (loss) on extinguishment of debt 15  
Other, net 15 52
Total other income (expense) (111) (35)
Earnings (loss) before income taxes 65 71
Income tax (expense) benefit (32) (58)
Net earnings (loss) 33 13
Less net earnings (loss) attributable to the noncontrolling interests 13 12
Net earnings (loss) attributable to Qurate Retail, Inc. shareholders $ 20 $ 1
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): $ 0.05 $ 0.00
Diluted net earnings (loss) attributable to Series A and Series B Qurate Retail, Inc. shareholders per common share (note 3): $ 0.05 $ 0.00