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Information about QVC's Operating Segments (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of Revenue and Adjusted OIBDA by Segment |
| Year ended December 31, 2024
(in millions) | QxH | QVC-International | Consolidated QVC
Net revenue | $ | 6,598 |  | 2,399 |  | 8,997 |
Cost of goods sold (exclusive of depreciation and amortization) | 4,373 |  | 1,532 |  | 5,905 |
Segment gross profit | 2,225 |  | 867 |  | 3,092 |
Operating | 512 |  | 181 |  | 693 |
Advertising | 277 |  | 35 |  | 312 |
Selling, general and administrative, excluding stock-based compensation and advertising | 671 |  | 318 |  | 989 |
Adjusted OIBDA | $ | 765 |  | 333 |  | 1,098 |
| Year ended December 31, 2023
(in millions) | QxH | QVC-International | Total |
Net revenue | $ | 6,995 |  | 2,454 |  | 9,449 |  |
Cost of goods sold (exclusive of depreciation and amortization) | 4,711 |  | 1,562 |  | 6,273 |  |
Segment gross profit | 2,284 |  | 892 |  | 3,176 |  |
Operating | 549 |  | 190 |  | 739 |  |
Advertising | 251 |  | 38 |  | 289 |  |
Selling, general and administrative, excluding stock-based compensation and advertising | 738 |  | 339 |  | 1,077 |  |
Adjusted OIBDA | $ | 746 |  | 325 |  | 1,071 |  |
| Year ended December 31, 2022
(in millions) | QxH | QVC-International | Total
Net revenue | $ | 7,359 |  | 2,528 |  | 9,887 |
Cost of goods sold (exclusive of depreciation, amortization and Rocky Mount inventory losses) | 5,131 |  | 1,620 |  | 6,751 |
Segment gross profit | 2,228 |  | 908 |  | 3,136 |
Operating | 562 |  | 198 |  | 760 |
Advertising | 259 |  | 39 |  | 298 |
Selling, general and administrative, excluding stock-based compensation and advertising | 657 |  | 313 |  | 970 |
Adjusted OIBDA | $ | 750 |  | 358 |  | 1,108 |
Schedule of Depreciation and Amortization by Segment |
| Years ended December 31,
| 2024 | 2023 | 2022
(in millions) | Depreciation | Amortization | Depreciation | Amortization | Depreciation | Amortization
QxH | $ | 51 |  | 252 |  | 59 |  | 265 |  | 77 |  | 277 |
QVC-International | 26 |  | 22 |  | 31 |  | 17 |  | 34 |  | 13 |
Consolidated QVC | $ | 77 |  | 274 |  | 90 |  | 282 |  | 111 |  | 290 |
Schedule of Capital Expenditures and Total Assets by Segment |
| Years ended December 31,
| 2024 | 2023
(in millions) | Total assets | Capital expenditures | Total assets | Capital expenditures
QxH | $ | 8,128 |  | 122 |  | 9,828 |  | 128 |
QVC-International | 1,761 |  | 51 |  | 1,892 |  | 54 |
Consolidated QVC | $ | 9,889 |  | 173 |  | 11,720 |  | 182 |
Property and equipment, net by Segment | Property and equipment, net of accumulated depreciation, by segment was as follows:
| December 31,
(in millions) | 2024 | 2023
QxH | $ | 259 |  | 263 |
QVC-International | 151 |  | 164 |
Consolidated QVC | $ | 410 |  | 427 |
Reconciliation of Adjusted OIBDA to Income before Income Taxes | The following table provides a reconciliation of Adjusted OIBDA to income before income taxes:
| Years ended December 31,
(in millions) | 2024 | 2023 | 2022 |
Adjusted OIBDA | $ | 1,098 |  | 1,071 |  | 1,108 |  |
Gains on sales of assets and sale leaseback transactions | 1 |  | 113 |  | 520 |  |
Restructuring, penalties and fire related (costs), net of recoveries (including Rocky Mount inventory losses) | (18) |  | 196 |  | 10 |  |
Impairment losses | (1,480) |  | (326) |  | (2,600) |  |
Stock-based compensation | (20) |  | (37) |  | (36) |  |
Depreciation and amortization | (351) |  | (372) |  | (401) |  |
Operating (loss) income | (770) |  | 645 |  | (1,399) |  |
Losses on financial instruments | — |  | (1) |  | (9) |  |
Interest expense, net | (251) |  | (228) |  | (228) |  |
Foreign currency gain (loss) | 9 |  | (10) |  | 32 |  |
Gain (loss) on extinguishment of debt | — |  | 10 |  | (6) |  |
Other (loss) income | (7) |  | — |  | 20 |  |
(Loss) income before income taxes | $ | (1,019) |  | 416 |  | (1,590) |  |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area | The following table summarizes net revenues based on revenues generated by subsidiaries located within the identified geographic area:
| Years ended December 31,
(in millions) | 2024 | 2023 | 2022
United States | $ | 6,598 |  | 6,995 |  | 7,359 |
Japan | 870 |  | 945 |  | 1,017 |
Germany | 785 |  | 788 |  | 813 |
United Kingdom | 629 |  | 594 |  | 565 |
Other countries | 115 |  | 127 |  | 133 |
Consolidated QVC | $ | 8,997 |  | 9,449 |  | 9,887 |
Long-lived Assets by Geographic Areas | The following table summarizes property and equipment, net of accumulated depreciation, based on physical location:
| December 31,
(in millions) | 2024 | 2023
United States | $ | 259 |  | 263 |
Japan | 81 |  | 91 |
Other countries | 70 |  | 73 |
Consolidated QVC | $ | 410 |  | 427 |

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