Quarterly report pursuant to Section 13 or 15(d)

Information about QVC's Operating Segments (Tables)

v3.21.2
Information about QVC's Operating Segments (Tables)
9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Schedule of Revenue and Adjusted OIBDA by Segment
Three months ended September 30, Nine months ended September 30,
2021 2020 2021 2020
(in millions) Net
revenue
Adjusted
OIBDA
Net
revenue
Adjusted
OIBDA
Net
revenue
Adjusted
OIBDA
Net
revenue
Adjusted
OIBDA
QxH $ 1,813  325  1,980  380  5,738  1,065  5,782  1,061 
QVC-International 699  115  723  132  2,264  402  2,071  348 
   Consolidated QVC $ 2,512  440  2,703  512  8,002  1,467  7,853  1,409 
Schedule of Depreciation and Amortization by Segment
Three months ended September 30, Nine months ended September 30,
2021 2020 2021 2020
(in millions) Depreciation Amortization Depreciation Amortization Depreciation Amortization Depreciation Amortization
QxH $ 24  70  31  66  74  190  89  204 
QVC-International 13  14  41  10  42 
Consolidated QVC $ 37  74  45  69  115  200  131  213 
Schedule of Capital Expenditures and Total Assets by Segment
September 30, 2021
(in millions) Total
assets
Capital
expenditures
Property and equipment, net
QxH $ 14,073  124  720 
QVC-International 2,267  21  366 
Consolidated QVC $ 16,340  145  1,086 
Reconciliation of Adjusted OIBDA to Income before Income Taxes
The following table provides a reconciliation of Adjusted OIBDA to operating income and income before income taxes:
Three months ended September 30, Nine months ended September 30,
(in millions) 2021 2020 2021 2020
Adjusted OIBDA $ 440  512  1,467  1,409 
Stock-based compensation (13) (10) (33) (26)
Depreciation and amortization (111) (114) (315) (344)
Operating income 316  388  1,119  1,039 
Equity in (losses) earnings of investee (2) (2) (1)
(Losses) gains on financial instruments (5) (8) (3)
Interest expense, net (64) (65) (192) (194)
Foreign currency gain (loss) —  (4)
Loss on extinguishment of debt —  (42) —  (42)
Other income —  —  — 
Income before income taxes $ 245  284  921  802