QVC INC

For the period ended Dec 31, 2023. Filed Feb 28, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 28, 2024

QVCG$8.08+7.2%Stored close · as of Nov 9, 2026

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Contents

Consolidated Statements of Operations

(in millions)	2023	2022	2021
Net revenue	$9,449	9,887	11,354
Operating costs and expenses:
Cost of goods sold (exclusive of depreciation and amortization shown separately below)	6,273	6,846	7,368
Operating	739	760	791
Selling, general and administrative, including stock-based compensation	1,403	1,304	1,238
Depreciation	90	111	159
Amortization	282	290	270
Impairment losses (note 6)	326	2,600	—
Restructuring, penalties and fire related costs, net of (recoveries) (note 17)	(196)	(105)	21
Gains on sale of assets and sale leaseback transactions	(113)	(520)	—
	8,804	11,286	9,847
Operating income (loss)	645	(1,399)	1,507
Other (expense) income:
Equity in losses of investee	—	—	(2)
(Losses) gains on financial instruments	(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	—	20	11
	(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 (loss) attributable to QVC, Inc. stockholder	$159	(1,867)	787

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ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.