QVC INC
For the period ended Sep 30, 2025. Filed Nov 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 5, 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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Condensed Consolidated Statements of Cash Flows I-4
Condensed Consolidated Statements of Cash Flows
| Nine months ended September 30, | ||
|---|---|---|
| (in millions) | 2025 | 2024 |
| Cash flows from operating activities: | ||
| Net earnings (loss) | (2,176) | 190 |
| Adjustments to reconcile net earnings (loss) to net cash provided (used) by operating activities: | ||
| Depreciation and amortization | 290 | 267 |
| Impairment of goodwill and intangible assets | 2,395 | — |
| Stock-based compensation | 14 | 15 |
| Gain on sale leaseback transaction | — | (1) |
| Change in fair value of financial instruments and noncash interest | (2) | (2) |
| Deferred income tax expense (benefit) | (222) | (89) |
| Other charges, net | 85 | 76 |
| Change in operating assets and liabilities | ||
| Decrease (increase) in trade and other receivables | 306 | 410 |
| Decrease (increase) in inventories | (93) | (246) |
| Decrease (increase) in other current assets | 22 | 31 |
| (Decrease) increase in accounts payable | (129) | (59) |
| (Decrease) increase in accrued and other liabilities | (316) | (246) |
| Net cash provided (used) by operating activities | 174 | 346 |
| Cash flows from investing activities: | ||
| Capital expenditures | (88) | (118) |
| Expenditures for television distribution rights | (89) | (23) |
| Proceeds from sale of fixed assets | — | 6 |
| Other investing activities, net | (11) | (2) |
| Net cash provided (used) by investing activities | (188) | (137) |
| Cash flows from financing activities: | ||
| Borrowings of debt | 1,986 | 1,895 |
| Repayments of debt | (868) | (2,248) |
| Capital contributions received from QVC Group, Inc. | — | 277 |
| Dividends paid to QVC Group, Inc. | (42) | (91) |
| Dividends paid to noncontrolling interest | (22) | (51) |
| Other financing activities, net | (3) | (1) |
| Net cash provided (used) by financing activities | 1,051 | (219) |
| Effect of foreign currency exchange rate changes on cash, cash equivalents and restricted cash | 22 | 2 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 1,059 | (8) |
| Cash, cash equivalents and restricted cash, beginning of period | 315 | 322 |
| Cash, cash equivalents and restricted cash, end of period | $1,374 | 314 |
The following table reconciles cash, cash equivalents and restricted cash reported in our condensed consolidated balance sheets to the total amount presented in our condensed consolidated statements of cash flows:
| September 30, | December 31, | |
|---|---|---|
| (in millions) | 2025 | 2024 |
| Cash and cash equivalents | $1,328 | 297 |
| Restricted cash included in other current assets | 46 | 18 |
| Total cash, cash equivalents and restricted cash in the condensed consolidated statements of cash flows | $1,374 | 315 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.