QVC INC

For the period ended Dec 31, 2024. Filed Feb 27, 2025.

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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.

FY2024 · Filed Feb 27, 2025

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

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Contents

Consolidated Statements of Operations

(in millions)	2024	2023	2022
Net revenue	$8,997	9,449	9,887
Operating costs and expenses:
Cost of goods sold (exclusive of depreciation and amortization shown separately below)	5,905	6,273	6,846
Operating	693	739	760
Selling, general and administrative, including stock-based compensation	1,321	1,403	1,304
Depreciation	77	90	111
Amortization	274	282	290
Impairment losses (note 6)	1,480	326	2,600
Restructuring, penalties and fire related costs, net of (recoveries) (note 17)	18	(196)	(105)
Gains on sales of assets and sale leaseback transactions	(1)	(113)	(520)
	9,767	8,804	11,286
Operating (loss) income	(770)	645	(1,399)
Other (expense) income:
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 (expense) income	(7)	—	20
	(249)	(229)	(191)
(Loss) income before income taxes	(1,019)	416	(1,590)
Income tax expense	(3)	(205)	(220)
Net (loss) income	(1,022)	211	(1,810)
Less: net income attributable to the noncontrolling interest	(47)	(52)	(57)
Net (loss) income attributable to QVC, Inc. stockholder	$(1,069)	159	(1,867)

II-22

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.