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Information About QVC Group's Operating Segments (Tables) | 3 Months Ended
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Mar. 31, 2026
Segment Reporting, Disclosure of Other Information about Entity's Reportable Segments [Abstract] |
Schedule of Disaggregation of Revenue | Disaggregated total revenue, net by segment and product category consisted of the following:
| Three months ended March 31, 2026
| QxH |  | QVC Int'l |  | CBI |  |  |  | Total
| in millions
Home | $ | 497 |  |  | 223 |  |  | 147 |  |  |  |  | 867 |
Apparel | 247 |  |  | 96 |  |  | 41 |  |  |  |  | 384 |
Beauty | 179 |  |  | 115 |  |  | — |  |  |  |  | 294 |
Accessories | 147 |  |  | 48 |  |  | — |  |  |  |  | 195 |
Jewelry | 65 |  |  | 37 |  |  | — |  |  |  |  | 102 |
Electronics | 60 |  |  | 19 |  |  | — |  |  |  |  | 79 |
Other revenue | 36 |  |  | — |  |  | — |  |  |  |  | 36 |
Total revenue, net | $ | 1,231 |  |  | 538 |  |  | 188 |  |  |  |  | 1,957 |
| Three months ended March 31, 2025
| QxH |  | QVC Int'l |  | CBI |  |  |  | Total
| in millions
Home | $ | 538 |  |  | 223 |  |  | 160 |  |  |  |  | 921 |
Apparel | 258 |  |  | 99 |  |  | 40 |  |  |  |  | 397 |
Beauty | 211 |  |  | 120 |  |  | — |  |  |  |  | 331 |
Accessories | 173 |  |  | 46 |  |  | — |  |  |  |  | 219 |
Jewelry | 63 |  |  | 33 |  |  | — |  |  |  |  | 96 |
Electronics | 89 |  |  | 15 |  |  | — |  |  |  |  | 104 |
Other revenue | 36 |  |  | 1 |  |  | — |  |  |  |  | 37 |
Total revenue, net | $ | 1,368 |  |  | 537 |  |  | 200 |  |  |  |  | 2,105 |
Schedule of Performance Measures | Other performance measures reviewed by the CODM are as follows:
| Three months ended March 31, 2026
| QxH |  | QVC Int'l |  | CBI |  | Corporate and other |  | Total
| amounts in millions
Total revenue, net | $ | 1,231 |  |  | 538 |  |  | 188 |  |  | — |  |  | 1,957 |
Cost of goods sold (excluding depreciation and amortization) | 824 |  |  | 356 |  |  | 108 |  |  | — |  |  | 1,288 |
Gross profit | 407 |  |  | 182 |  |  | 80 |  |  | — |  |  | 669 |
Operating expense | 92 |  |  | 45 |  |  | 9 |  |  | — |  |  | 146 |
Advertising expense | 70 |  |  | 8 |  |  | 41 |  |  | — |  |  | 119 |
SG&A (excluding stock-based compensation, advertising and pre-petition charges) | 153 |  |  | 80 |  |  | 39 |  |  | 6 |  |  | 278 |
Adjusted OIBDA | $ | 92 |  |  | 49 |  |  | (9) |  |  | (6) |  |  | 126 |
| Three months ended March 31, 2025
| QxH |  | QVC Int'l |  | CBI |  | Corporate and other |  | Total
| amounts in millions
Total revenue, net | $ | 1,368 |  |  | 537 |  |  | 200 |  |  | — |  |  | 2,105 |
Cost of goods sold (excluding depreciation and amortization) | 923 |  |  | 348 |  |  | 115 |  |  | — |  |  | 1,386 |
Gross profit | 445 |  |  | 189 |  |  | 85 |  |  | — |  |  | 719 |
Operating expense | 111 |  |  | 43 |  |  | 9 |  |  | — |  |  | 163 |
Advertising expense | 55 |  |  | 8 |  |  | 39 |  |  | — |  |  | 102 |
SG&A (excluding stock-based compensation, advertising and pre-petition charges) | 157 |  |  | 75 |  |  | 41 |  |  | 4 |  |  | 277 |
Adjusted OIBDA | $ | 122 |  |  | 63 |  |  | (4) |  |  | (4) |  |  | 177 |
Schedule of Other Information by Segment |
| March 31, 2026 |  | December 31, 2025
| Total assets |  | Property and equipment, net |  | Total assets |  | Property and equipment, net
| amounts in millions
QxH (1) | $ | 4,377 |  |  | 159 |  |  | 4,780 |  |  | 166 |
QVC International | 1,870 |  |  | 140 |  |  | 1,927 |  |  | 150 |
CBI | 473 |  |  | 85 |  |  | 495 |  |  | 85 |
Corporate and other | 355 |  |  | — |  |  | 441 |  |  | — |
Consolidated QVC Group | $ | 7,075 |  |  | 384 |  |  | 7,643 |  |  | 401 |
(1) QxH Property and equipment, net as of March 31, 2026 and December 31, 2025 excludes assets classified as assets held for sale in the condensed consolidated balance sheet.
| March 31, 2026 |  | March 31, 2025
| Depreciation |  | Amortization |  | Capital Expenditures |  | Depreciation |  | Amortization |  | Capital Expenditures
| amounts in millions
QxH | $ | 9 |  |  | 52 |  |  | 28 |  |  | 28 |  |  | 55 |  |  | 25 |
QVC International | 6 |  |  | 7 |  |  | 4 |  |  | 6 |  |  | 6 |  |  | 5 |
CBI | 3 |  |  | 3 |  |  | 4 |  |  | 4 |  |  | 3 |  |  | 4 |
Consolidated QVC Group | $ | 18 |  |  | 62 |  |  | 36 |  |  | 38 |  |  | 64 |  |  | 34 |
Schedule of Reconciliation of Adjusted OIBDA to Operating Income (Loss) and Earnings (Loss) Before Income Taxes | The following table provides a reconciliation of Adjusted OIBDA to Operating income (loss) and Earnings (loss) before income taxes:
| Three months ended March 31,
| 2026 |  | 2025
| amounts in millions
Adjusted OIBDA | $ | 126 |  |  | 177 |
Depreciation and amortization | (80) |  |  | (102) |
Gain (loss) on sale of assets | 10 |  |  | — |
Pre-petition charges | (41) |  |  | — |
Stock-based compensation | — |  |  | (4) |
Restructuring benefits (costs) | — |  |  | (57) |
Operating income (loss) | 15 |  |  | 14 |
Interest expense | (132) |  |  | (112) |
Realized and unrealized gains (losses) on financial instruments, net | 79 |  |  | (15) |
Interest and dividend income | 12 |  |  | 8 |
Other, net | 1 |  |  | 2 |
Earnings (loss) before income taxes | $ | (25) |  |  | (103) |

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