QVC INC
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
QVCG$8.03-0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| (in millions) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Operating activities: | |||
| Net (loss) income | $(1,022) | 211 | (1,810) |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | |||
| Deferred income taxes | (225) | 55 | (61) |
| Foreign currency (gain) loss | (9) | 10 | (32) |
| Depreciation | 77 | 90 | 111 |
| Amortization | 274 | 282 | 290 |
| Impairment losses | 1,480 | 326 | 2,600 |
| Change in fair value of financial instruments and noncash interest | 6 | 9 | 9 |
| Other charges, net | 92 | 61 | 57 |
| (Gain) loss on extinguishment of debt | — | (10) | 6 |
| Stock-based compensation | 20 | 37 | 36 |
| Gains on sales of assets and sale leaseback transactions | (1) | (113) | (520) |
| Gain on insurance proceeds, net of fire related costs | — | (225) | (132) |
| Insurance proceeds received for operating expenses and business interruption losses | — | 226 | 96 |
| Changes in operating assets and liabilities | |||
| Decrease in accounts receivable | 142 | 38 | 144 |
| (Increase) decrease in inventories | (53) | 184 | 296 |
| Decrease (increase) in prepaid expenses and other current assets | 6 | (14) | 32 |
| Decrease in accounts payable-trade | (102) | (1) | (390) |
| Decrease in accrued liabilities and other | (150) | (72) | (323) |
| Net cash provided by operating activities | 535 | 1,094 | 409 |
| Investing activities: | |||
| Capital expenditures | (173) | (182) | (216) |
| Expenditures for television distribution rights | (37) | (113) | (45) |
| Insurance proceeds received for fixed asset loss | — | 54 | 184 |
| Proceeds from derivative instruments | — | 167 | — |
| Payments for derivative instruments | — | (179) | — |
| Changes in other noncurrent assets | (4) | (4) | (6) |
| Proceeds from sale of fixed assets | 6 | 208 | 701 |
| Other investing activities | 2 | 2 | 20 |
| Net cash (used in) provided by investing activities | (206) | (47) | 638 |
| Financing activities: | |||
| Principal payments of debt and finance lease obligations | (1,677) | (1,354) | (2,030) |
| Principal borrowings of debt from senior secured credit facility | 2,014 | 1,152 | 2,750 |
| Principal repayment of senior secured notes | (775) | (396) | (536) |
| Payment of premium on redemption of senior secured notes | — | — | (6) |
| Capital contributions received from QVC Group, Inc. | 277 | — | — |
| Dividends paid to QVC Group, Inc. | (108) | (437) | (1,270) |
| Dividends paid to noncontrolling interest | (51) | (53) | (68) |
| Withholding taxes on net share settlements of stock-based compensation | (1) | — | (5) |
| Net cash used in financing activities | (321) | (1,088) | (1,165) |
| Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | (15) | (4) | (34) |
| Net (decrease) in cash, cash equivalents and restricted cash | (7) | (45) | (152) |
| Cash, cash equivalents and restricted cash, beginning of year | 322 | 367 | 519 |
| Cash, cash equivalents and restricted cash, end of year | $315 | 322 | 367 |
| Supplemental cash flow information: | |||
| Cash paid for taxes-to QVC Group, Inc. | $173 | 11 | 280 |
| Cash paid for taxes-other | 87 | 89 | 126 |
| Cash paid for interest | 259 | 271 | 233 |
II-24
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