Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 497 $ 561
Restricted cash 8 8
Accounts receivable, less allowance for credit losses of $132 at March 31, 2020 and $123 at December 31, 2019 1,407 1,813
Inventories 1,214 1,214
Prepaid expenses and other current assets 134 184
Total current assets 3,260 3,780
Noncurrent assets:    
Property and equipment, net of accumulated depreciation of $1,367 at March 31, 2020 and $1,338 at December 31, 2019 1,188 1,215
Operating Lease, Right-of-Use Asset 208 214
Television distribution rights, net (note 2) 108 140
Goodwill (note 3) 5,958 5,971
Other intangible assets, net (note 3) 3,476 3,498
Other noncurrent assets 103 109
Total assets 14,301 14,927
Current liabilities:    
Current portion of debt and finance lease obligations (note 5) 17 18
Accounts payable-trade 709 913
Accrued liabilities (note 4) 843 1,045
Total current liabilities 1,569 1,976
Noncurrent liabilities:    
Long-term portion of debt and finance lease obligations (note 5) 4,908 5,101
Deferred Tax Liabilities, Net 724 724
Other long-term liabilities 307 322
Total liabilities 7,508 8,123
QVC, Inc. stockholder's equity:    
Common stock, $0.01 par value, 1 authorized share 0 0
Additional paid-in capital 9,213 9,208
Accumulated deficit (2,381) (2,390)
Accumulated other comprehensive loss (167) (144)
Total QVC, Inc. stockholder's equity 6,665 6,674
Noncontrolling interest 128 130
Total equity 6,793 6,804
Total liabilities and equity $ 14,301 $ 14,927