Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.24.0.1
Consolidated Statements of Operations - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues $ 9,449 $ 9,887 $ 11,354
Cost of Goods and Services Sold 6,273 6,846 7,368
Operating costs and expenses:      
Operating 739 760 791
Selling, General and Administrative, Including Transaction Related Costs and Stock-Based Compensation 1,403 1,304 1,238
Depreciation 90 111 159
Amortization 282 290 270
Goodwill and Intangible Asset Impairment 326 2,600 0
Unusual or Infrequent Item, or Both, Net of Insurance Proceeds (196) (105) 21
Gain (Loss) on Disposition of Assets (113) (520) 0
Operating Expenses 8,804 11,286 9,847
Operating income (loss) 645 (1,399) 1,507
Other (expense) income:      
Equity in losses of investee 0 0 (2)
Gain (Loss) on Derivative Instruments, Net, Pretax (1) (9) 8
Interest expense, net (228) (228) (249)
Foreign currency gain (loss) 10 32 (9)
Gain (Loss) on Extinguishment of Debt 10 (6) (7)
Other Income 0 20 11
Nonoperating expense (229) (191) (248)
Income (loss) before income taxes 416 (1,590) 1,259
Income tax expense (205) (220) (408)
Net income (loss) 211 (1,810) 851
Less net income attributable to the noncontrolling interest (52) (57) (64)
Net income attributable to QVC, Inc. stockholder $ 159 $ (1,867) $ 787