Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 361 $ 327
Restricted cash 11 11
Accounts receivable, less allowance for doubtful accounts of $88 at March 31, 2016 and $86 at December 31, 2015 1,031 1,370
Inventories 1,007 929
Prepaid expenses 57 42
Total current assets 2,467 2,679
Noncurrent assets:    
Property and equipment, net of accumulated depreciation of $987 at March 31, 2016 and $941 at December 31, 2015 1,065 1,002
Cable and satellite television distribution rights, net 294 339
Goodwill 5,062 5,035
Other intangible assets, net 2,886 2,936
Other noncurrent assets 59 67
Total assets 11,833 12,058
Current liabilities:    
Current portion of debt and capital lease obligations 10 9
Accounts payable-trade 558 658
Accrued liabilities 702 872
Total current liabilities 1,270 1,539
Noncurrent liabilities:    
Long-term portion of debt and capital lease obligations 5,472 5,393
Deferred compensation 12 13
Deferred income taxes 802 827
Other long-term liabilities 241 168
Total liabilities 7,797 7,940
QVC, Inc. stockholder's equity:    
Common stock, $0.01 par value, 1 authorized share 0 0
Additional paid-in capital 6,837 6,827
Accumulated deficit (2,782) (2,669)
Accumulated other comprehensive loss (113) (140)
Total QVC, Inc. stockholder's equity 3,942 4,018
Noncontrolling interest 94 100
Total equity 4,036 4,118
Total liabilities and equity $ 11,833 $ 12,058