Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v3.22.2.2
Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues $ 2,217 $ 2,512 $ 6,963 $ 8,002
Cost of goods sold (exclusive of depreciation and amortization shown separately below) 1,526 1,617 4,775 5,130
Operating costs and expenses:        
Operating 186 183 543 565
Selling, general and administrative, including transaction related costs and stock-based compensation 309 285 906 873
Depreciation 21 37 88 115
Amortization 73 74 217 200
Goodwill and Intangible Asset Impairment 2,600 0 2,600 0
Unusual or Infrequent Item, or Both, Net of Insurance Proceeds (137) 0 (134) 0
Gain (Loss) on Disposition of Assets (277) 0 (520) 0
Operating expenses 4,301 2,196 8,475 6,883
Operating (loss) income (2,084) 316 (1,512) 1,119
Other (expense) income:        
Income (Loss) from Equity Method Investments 0 (2) 0 (2)
Gain (Loss) on Derivative Instruments, Net, Pretax 0 (5) 1 (8)
Interest expense, net (50) (64) (175) (192)
Foreign currency gain (loss) 21 0 50 (4)
Gain (Loss) on Extinguishment of Debt 0 0 (6) 0
Other Income 0 0 20 8
Nonoperating Income (Expense) (29) (71) (110) (198)
(Loss) income before income taxes (2,113) 245 (1,622) 921
Income tax expense (101) (85) (251) (266)
Net (loss) income (2,214) 160 (1,873) 655
Less net income attributable to the noncontrolling interest (12) (15) (41) (48)
Net (loss) income attributable to QVC, Inc. stockholder $ (2,226) $ 145 $ (1,914) $ 607