QVC, Inc. 6.375% Senior Secured (QVCD) 10-Q4 Aug 232023 Q2 Quarterly reportFinancial data

Company Profile

Cover

Cover	6 Months Ended
Cover	Jun. 30, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-38654
Entity Registrant Name	QVC, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	23-2414041
Entity Address, Address Line One	1200 Wilson Drive
Entity Address, City or Town	West Chester
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19380
City Area Code	(484)
Local Phone Number	701-1000
Debt and Equity Securities, FV-NI [Line Items]
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
6.375% Senior Secured Notes [Member]
Debt and Equity Securities, FV-NI [Line Items]
Title of 12(b) Security	6.375% Senior Secured Notes due 2067
Trading Symbol	QVCD
Security Exchange Name	NYSE
6.25% Senior Secured Notes [Member]
Debt and Equity Securities, FV-NI [Line Items]
Title of 12(b) Security	6.250% Senior Secured Notes due 2068
Trading Symbol	QVCC
Security Exchange Name	NYSE

Document and Entity Information

Document and Entity Information Document	6 Months Ended
Document and Entity Information Document	Jun. 30, 2023 shares
Document Information [Abstract]
Entity Registrant Name	QVC, Inc.
Entity Central Index Key	0001254699
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding	1
Document Type	10-Q
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Document Information [Line Items]
Entity Address, State or Province	PA
Entity Address, City or Town	West Chester
Entity Incorporation, State or Country Code	DE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 649	$ 357
Restricted cash	9	10
Accounts Receivable, after Allowance for Credit Loss, Current	919	1,362
Inventories	933	1,035
Prepaid expenses and other current assets	136	144
Total current assets	2,646	2,908
Noncurrent assets:
Property, Plant and Equipment, Net	439	472
Operating Lease, Right-of-Use Asset	475	419
Television distribution rights, net (note 2)	129	72
Goodwill (note 3)	3,469	3,470
Other intangible assets, net (note 3)	3,146	3,184
Other noncurrent assets	57	68
Asset, Held-for-Sale, Not Part of Disposal Group	0	71
Total assets	12,101	12,404
Current liabilities:
Current portion of debt and finance lease obligations (note 4)	424	216
Accounts payable-trade	623	832
Accrued liabilities	762	911
Other Liabilities, Current	49	57
Total current liabilities	1,858	2,016
Noncurrent liabilities:
Long-term portion of debt and finance lease obligations (note 4)	4,482	4,721
Deferred Income Tax Liabilities, Net	619	577
Operating Lease, Liability, Noncurrent	441	377
Other long-term liabilities	84	141
Total liabilities	7,484	7,832
QVC, Inc. stockholder's equity:
Common Stock, Value, Issued	0	0
Additional paid-in capital	10,886	10,869
Accumulated deficit	(6,050)	(6,080)
Accumulated other comprehensive loss	(308)	(312)
Total QVC, Inc. stockholder's equity	4,528	4,477
Noncontrolling interest	89	95
Total equity	4,617	4,572
Total liabilities and equity	12,101	12,404
Qurate
Noncurrent assets:
Repayment of Notes Receivable from Related Parties	$ 1,740	$ 1,740

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss, Current	$ 91	$ 102
Accumulated depreciation	$ 965	$ 929
Common stock par value	$ 0.01	$ 0.01
Common Stock, Shares Authorized	1	1

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues	$ 2,224	$ 2,392	$ 4,417	$ 4,746
Cost of goods sold (exclusive of depreciation and amortization shown separately below)	1,456	1,608	2,944	3,249
Operating costs and expenses:
Operating	177	179	355	357
Selling, general and administrative, including transaction related costs and stock-based compensation	340	303	665	597
Depreciation	22	32	45	67
Amortization	72	70	138	144
Unusual or Infrequent Item, or Both, Net of Insurance Proceeds	(211)	1	(215)	3
Gain (Loss) on Disposition of Assets	(6)	(243)	(119)	(243)
Operating expenses	1,850	1,950	3,813	4,174
Operating income	374	442	604	572
Other (expense) income:
Gain (Loss) on Derivative Instruments, Net, Pretax	0	0	(1)	1
Interest expense, net	(67)	(63)	(104)	(125)
Foreign currency (loss) gain	(3)	21	(9)	29
Gain (Loss) on Extinguishment of Debt	10	(6)	10	(6)
Other Income	0	0	0	20
Nonoperating Income (Expense)	(60)	(48)	(104)	(81)
Income before income taxes	314	394	500	491
Income tax expense	(88)	(109)	(139)	(150)
Net income	226	285	361	341
Less net income attributable to the noncontrolling interest	(13)	(15)	(26)	(29)
Net income attributable to QVC, Inc. stockholder	$ 213	$ 270	$ 335	$ 312

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income Statement - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net income	$ 226	$ 285	$ 361	$ 341
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	(24)	(143)	(4)	(203)
Total comprehensive income	202	142	357	138
Comprehensive income attributable to noncontrolling interest	(6)	(2)	(18)	(10)
Comprehensive income attributable to QVC, Inc. stockholder	$ 196	$ 140	$ 339	$ 128

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Net income	$ 226	$ 285	$ 361	$ 341
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income taxes			53	(14)
Foreign currency (loss) gain	3	(21)	9	(29)
Depreciation	22	32	45	67
Amortization	72	70	138	144
Change in fair value of financial instruments and noncash interest			1	(1)
Other charges, net			(7)	6
Gain (Loss) on Extinguishment of Debt	(10)	6	(10)	6
Stock-based compensation			20	18
Gains on sale of intangible asset and leaseback transactions			(119)	(243)
Unusual or Infrequent Item, or Both, Gain, Gross			228	0
Insurance proceeds received for operating expenses and business interruption losses			226	30
Decrease in accounts receivable			400	416
Decrease (increase) in inventories			108	(81)
Decrease in prepaid expenses and other current assets			13	9
Decrease in accounts payable-trade			(213)	(331)
Decrease in accrued liabilities and other			(206)	(294)
Net cash provided by operating activities			591	44
Investing activities:
Capital expenditures			(79)	(81)
Expenditures for television distribution rights			(107)	(15)
Proceeds from Insurance Settlement, Investing Activities			54	70
Proceeds from Derivative Instrument, Investing Activities			167	0
Payments for Derivative Instrument, Investing Activities			179	0
Increase (Decrease) in Other Noncurrent Assets			(1)	(4)
Proceeds from Sale of Property, Plant, and Equipment			200	256
Proceeds from Sale of Other Investments			0	20
Net cash provided by investing activities			55	246
Financing activities:
Principal payments of debt and finance lease obligations			(515)	(876)
Principal borrowings of debt from senior secured credit facility			887	1,223
Principal repayment of senior secured notes			(396)	(536)
Payment of premium on redemption of senior secured notes			0	(6)
Dividends paid to noncontrolling interest			(24)	(27)
Withholding taxes on net share settlements of stock-based compensation			0	(5)
Net cash used in financing activities			(348)	(348)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash			(7)	(39)
Net increase (decrease) in cash, cash equivalents and restricted cash			291	(97)
Cash, cash equivalents and restricted cash, beginning of period			367	519	$ 519
Cash, cash equivalents and restricted cash, end of period	$ 658	$ 422	658	422	$ 367
Qurate
Financing activities:
Dividends paid to Qurate Retail, Inc.			$ 300	$ 121

Consolidated Statement of Equit

Consolidated Statement of Equity - USD ($) $ in Millions	Total	Common stock	Additional Paid-in Capital [Member]	Accumulated deficit	Accumulated other comprehensive loss	Noncontrolling interest
Balance at Dec. 31, 2021	$ 7,721	$ 0	$ 10,687	$ (2,942)	$ (146)	$ 122
Balance beginning (in shares) at Dec. 31, 2021		1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	341			312		29
Foreign currency translation adjustments, net of tax	(203)				(184)	(19)
Dividends paid to Qurate Retail, Inc. and noncontrolling interest	(148)			(121)		(27)
Impact of tax liability allocation and indemnification agreement with Qurate Retail, Inc.	4		4
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	(5)		(5)
Stock-based compensation	$ 18		$ 18
Common control transaction with Qurate Retail, Inc.	(76)		(76)
Balance ending (in shares) at Jun. 30, 2022		1
Balance at Jun. 30, 2022	$ 7,652	$ 0	$ 10,628	(2,751)	(330)	105
Balance at Mar. 31, 2022	7,547	$ 0	10,643	(3,012)	(200)	116
Balance beginning (in shares) at Mar. 31, 2022		1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	285			270		15
Foreign currency translation adjustments, net of tax	(143)				(130)	(13)
Dividends paid to Qurate Retail, Inc. and noncontrolling interest	(22)			(9)		(13)
Impact of tax liability allocation and indemnification agreement with Qurate Retail, Inc.	2		2
Stock-based compensation	$ 10		$ 10
Common control transaction with Qurate Retail, Inc.	(27)		(27)
Balance ending (in shares) at Jun. 30, 2022		1
Balance at Jun. 30, 2022	$ 7,652	$ 0	$ 10,628	(2,751)	(330)	105
Balance at Dec. 31, 2022	4,572	$ 0	10,869	(6,080)	(312)	95
Balance beginning (in shares) at Dec. 31, 2022		1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	361			335		26
Foreign currency translation adjustments, net of tax	(4)				4	(8)
Dividends paid to Qurate Retail, Inc. and noncontrolling interest	(324)			(300)		(24)
Impact of tax liability allocation and indemnification agreement with Qurate Retail, Inc.	(5)		0	(5)
Stock-based compensation	17		17
Balance ending (in shares) at Jun. 30, 2023		1
Balance at Jun. 30, 2023	4,617	$ 0	10,886	(6,050)	(308)	89
Balance at Mar. 31, 2023	4,464	$ 0	10,821	(6,161)	(291)	95
Balance beginning (in shares) at Mar. 31, 2023		1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	226			213		13
Foreign currency translation adjustments, net of tax	(24)				(17)	(7)
Dividends paid to Qurate Retail, Inc. and noncontrolling interest	(113)			(101)		(12)
Impact of tax liability allocation and indemnification agreement with Qurate Retail, Inc.	(1)		0	(1)
Stock-based compensation	$ 8		$ 8
Common control transaction with Qurate Retail, Inc.	57		57
Balance ending (in shares) at Jun. 30, 2023		1
Balance at Jun. 30, 2023	$ 4,617	$ 0	$ 10,886	$ (6,050)	$ (308)	$ 89

Basis of Presentation

Basis of Presentation	6 Months Ended
Basis of Presentation	Jun. 30, 2023
Basis of Presentation [Abstract]
Basis of Accounting	Basis of Presentation QVC, Inc. and its consolidated subsidiaries (unless otherwise indicated or required by the context, the terms "we," "our," "us," the "Company" and "QVC" refer to QVC, Inc. and its consolidated subsidiaries) is a retailer of a wide range of consumer products, which are marketed and sold primarily by merchandise-focused televised shopping programs, the Internet and mobile applications. In the United States ("U.S."), QVC's televised shopping programs, including live and recorded content, are distributed across multiple channels nationally on a full-time basis, including QVC, QVC2, QVC3, HSN and HSN2. The Company's U.S. programming is also available on QVC.com and HSN.com, which we refer to as our "U.S. websites"; virtual multichannel video programming distributors (including Hulu + Live TV, DirecTV Stream, and YouTube TV); applications via streaming video; Facebook Live, Roku, Apple TV, Amazon Fire, Xfinity Flex and Samsung TV Plus; mobile applications; social media pages and over-the-air broadcasters. QVC's digital platforms enable consumers to purchase goods offered on our televised programming, along with a wide assortment of products that are available only on our U.S. websites and our other digital platforms (including our mobile applications, social media pages and others) are natural extensions of our business model, allowing customers to engage in our shopping experience wherever they are, with live or on-demand content customized to the device they are using. In addition to offering video content, our U.S. websites allow shoppers to browse, research, compare and perform targeted searches for products, read customer reviews, control the order-entry process and conveniently access their account. Internationally, QVC's televised shopping programs, including live and recorded content, are distributed to households outside of the U.S., primarily in Germany, Austria, Japan, the United Kingdom ("U.K."), the Republic of Ireland and Italy. In some of the countries where QVC operates, QVC's televised shopping programs are distributed across multiple QVC channels: QVC Style and QVC2 in Germany and QVC Beauty, QVC Extra and QVC Style in the U.K. Similar to the U.S., our international businesses also engage customers via websites, mobile applications, and social media pages. QVC's international business employs product sourcing teams who select products tailored to the interests of each local market. The Company's Japanese operations ("QVC-Japan") are conducted through a joint venture with Mitsui & Co., LTD ("Mitsui"). QVC-Japan is owned 60% by the Company and 40% by Mitsui. The Company and Mitsui share in all profits and losses based on their respective ownership interests. During the six months ended June 30, 2023 and 2022, QVC-Japan paid dividends to Mitsui of $24 million and $27 million, respectively. The Company is an indirect wholly-owned subsidiary of Qurate Retail, Inc. ("Qurate Retail") (Nasdaq: QRTEA, QRTEB and QRTEP), which owns Cornerstone Brands, Inc. ("CBI"), as well as other minority investments. QVC is part of the Qurate Retail Group ("QRG"), a portfolio of brands including QVC and CBI. Zulily, LLC (“Zulily”) was a wholly owned subsidiary of Qurate Retail until its divestiture on May 24, 2023. During each of the six months ended June 30, 2023 and 2022, QVC and Zulily engaged in multiple transactions relating to sales, sourcing of merchandise, marketing initiatives and business advisory services. Prior to Qurate Retail's divestiture of Zulily, QVC allocated expenses of $3 million and $4 million to Zulily for the six months ended June 30, 2023 and 2022, respectively. Zulily allocated expenses of $2 million and $5 million to QVC for the six months ended June 30, 2023 and 2022, respectively. In September 2020, QVC and Zulily executed a Master Promissory Note ("Promissory Note") whereby Zulily could borrow up to $100 million at a variable interest rate equal to the LIBOR rate plus an applicable margin rate. In connection with the Qurate Retail's divestiture of Zulily, the Promissory Note was terminated in May 2023. There were no borrowings on the Promissory Note as of December 31, 2022. During each of the six months ended June 30, 2023 and 2022, QVC and CBI engaged in multiple transactions relating to personnel and business advisory services. QVC allocated expenses of $13 million to CBI for each of the six months ended June 30, 2023 and 2022. CBI allocated expenses of $1 million to QVC for each of the six months ended June 30, 2023 and 2022. On December 30, 2020, the Company and Liberty Interactive LLC ("LIC") completed an internal realignment of the Company's global finance structure that resulted in a common control transaction with Qurate Retail. As part of the common control transaction, LIC issued a promissory note (“LIC Note”) to a subsidiary of the Company with an initial face amount of $1.8 billion, a stated interest rate of 0.48% and a maturity of December 29, 2029. Interest on the LIC Note is paid annually. QVC recorded $4 million of related party interest income for each of the six months ended June 30, 2023 and 2022, included in interest expense, net in the consolidated statement of operations. On June 27, 2022, Qurate Retail announced a five-point turnaround plan designed to stabilize and differentiate its core QxH and QVC-International businesses and expand the Company's leadership in video streaming commerce (“Project Athens”). Project Athens main initiatives include: (i) improve customer experience and grow relationships; (ii) rigorously execute core processes; (iii) lower cost to serve; (iv) optimize the brand portfolio; and (v) build new high growth businesses anchored in strength. During 2022 QVC commenced the first phase of Project Athens including actions to reduce inventory and a planned workforce reduction. These initiatives are consistent with QVC’s strategy to operate more efficiently as it implements its turnaround plan. During the six months ended June 30, 2023, QVC implemented a workforce reduction and recorded restructuring charges of $13 million, in Restructuring and fire related costs, net of (recoveries) in the condensed consolidated statement of operations. The condensed consolidated financial statements include the accounts of QVC, Inc. and its majority-owned subsidiaries. All significant intercompany accounts and transactions were eliminated in consolidation. The accompanying (a) condensed consolidated balance sheet as of December 31, 2022, which has been derived from audited financial statements, and (b) the interim unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the results for such periods have been included. The results of operations for any interim period are not necessarily indicative of results for the full year. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in QVC's Annual Report on Form 10-K for the year ended December 31, 2022. Certain prior period balances were reclassified to conform to the current year's presentation. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Estimates include, but are not limited to, sales returns, uncollectible receivables, inventory obsolescence, internally-developed software, valuation of acquired intangible assets and goodwill and income taxes.

Television Distribution Rights,

Television Distribution Rights, Net	6 Months Ended
Television Distribution Rights, Net	Jun. 30, 2023
Television Distribution Rights [Abstract]
Television Distribution Rights, Net	Television Distribution Rights, Net Television distribution rights consisted of the following: (in millions) June 30, 2023 December 31, 2022 Television distribution rights $ 607 664 Less accumulated amortization (478) (592) Television distribution rights, net $ 129 72 The Company recorded amortization expense of $26 million and $28 million for the three months ended June 30, 2023 and 2022, respectively, related to television distribution rights. For the six months ended June 30, 2023 and 2022, amortization expense for television distribution rights was $50 million and $59 million, respectively. As of June 30, 2023, related amortization expense for each of the next five years ended December 31 was as follows (in millions): Remainder of 2023 $ 50 2024 72 2025 7 2026 — 2027 —

Goodwill and Intangibles

Goodwill and Intangibles	6 Months Ended
Goodwill and Intangibles	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure	Goodwill and Other Intangible Assets, Net The changes in the carrying amount of goodwill by operating segment for the six months ended June 30, 2023 were as follows: (in millions) QxH QVC-International Total Balance as of December 31, 2022 $ 2,692 778 3,470 Exchange rate fluctuations — (1) (1) Balance as of June 30, 2023 $ 2,692 777 3,469 Other intangible assets consisted of the following: June 30, 2023 December 31, 2022 (in millions) Gross Accumulated Other intangible assets, net Gross Accumulated Other intangible assets, net Purchased and internally developed software $ 1,015 (736) 279 962 (670) 292 Affiliate and customer relationships 2,823 (2,659) 164 2,818 (2,630) 188 Debt origination fees 9 (4) 5 9 (3) 6 Trademarks (indefinite life) 2,698 — 2,698 2,698 — 2,698 $ 6,545 (3,399) 3,146 6,487 (3,303) 3,184 The Company recorded amortization expense of $46 million and $42 million for the three months ended June 30, 2023 and 2022, respectively, related to other intangible assets. For the six months ended June 30, 2023 and 2022, amortization expense for other intangible assets was $88 million and $85 million, respectively. As of June 30, 2023, the related amortization and interest expense for each of the next five years ended December 31 was as follows (in millions): Remainder of 2023 $ 106 2024 168 2025 109 2026 65 2027 — QVC’s results have been challenged as a result of current business trends and global economic conditions. The Company will continue to monitor its current business performance versus the current and updated long-term forecasts, among other relevant considerations, to determine if the carrying value of its assets (including Goodwill and Trademarks) are appropriate. Future outlook declines in revenue, cash flows, or other factors could result in a sustained decrease in fair value that may result in a determination that material carrying value adjustments are required.

Long-Term Debt

Long-Term Debt	6 Months Ended
Long-Term Debt	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt disclosure	Long-Term Debt and Finance Lease Obligations Long-term debt and finance lease obligations consisted of the following: (in millions) June 30, 2023 December 31, 2022 4.375% Senior Secured Notes due 2023, net of original issue discount $ — 214 4.85% Senior Secured Notes due 2024, net of original issue discount 423 600 4.45% Senior Secured Notes due 2025, net of original issue discount 585 599 4.75% Senior Secured Notes due 2027 575 575 4.375% Senior Secured Notes due 2028 500 500 5.45% Senior Secured Notes due 2034, net of original issue discount 399 399 5.95% Senior Secured Notes due 2043, net of original issue discount 300 300 6.375% Senior Secured Notes due 2067 225 225 6.25% Senior Secured Notes due 2068 500 500 Senior secured credit facility 1,430 1,057 Finance lease obligations 3 4 Less debt issuance costs, net (34) (36) Total debt and finance lease obligations 4,906 4,937 Less current portion (424) (216) Long-term portion of debt and finance lease obligations $ 4,482 4,721 Senior Secured Notes All of QVC's senior secured notes are secured by the capital stock of QVC and have equal priority to the senior secured credit facility. The interest on QVC's senior secured notes is payable semi-annually with the exception of the 6.375% Senior Secured Notes due 2067 (the "2067 Notes") and the 6.25% Senior Secured Notes due 2068 (the "2068 Notes"), which is payable quarterly. The remaining outstanding 4.375% Senior Secured Notes due 2023 were repaid at maturity in March 2023. During the second quarter of 2023, QVC purchased $177 million of the outstanding 4.85% Senior Secured Notes due 2024 (the "2024 Notes") and $15 million of the outstanding 4.45% Senior Secured Notes due 2025. As a result of the repurchases, the Company recorded a gain on extinguishment of debt in the condensed consolidated statements of operations of $10 million for the three and six months ended June 30, 2023. As of June 30, 2023, the remaining outstanding 2024 Notes are classified within the current portion of long term debt as they mature in less than one year. Senior Secured Credit Facility On October 27, 2021, QVC entered into the Fifth Amended and Restated Credit Agreement with Zulily, CBI, and QVC Global, each a direct or indirect wholly owned subsidiary of Qurate Retail, as borrowers (collectively, the “Borrowers”). The Fifth Amended and Restated Credit Agreement is a multi-currency facility providing for a $3.25 billion revolving credit facility, with a $450 million sub-limit for letters of credit and an alternative currency revolving sub-limit equal to 50% of the revolving commitments thereunder. The Fifth Amended and Restated Credit Agreement may be borrowed by any Borrower, with each Borrower jointly and severally liable for the outstanding borrowings. Borrowings bear interest at either the alternate base rate (“ABR Rate”) or a LIBOR-based rate (or the applicable non-U.S. Dollar equivalent rate) (“Term Benchmark/RFR Rate”) at the applicable Borrower’s election in each case plus a margin. Borrowings that are ABR Rate loans will bear interest at a per annum rate equal to the base rate plus a margin that varies between 0.25% and 0.625% depending on the Borrowers’ combined ratio of consolidated total debt to consolidated EBITDA (the “consolidated leverage ratio”). Borrowings that are Term Benchmark/RFR Rate loans will bear interest at a per annum rate equal to the applicable rate plus a margin that varies between 1.25% and 1.625% depending on the Borrowers’ consolidated leverage ratio. Each loan may be prepaid at any time and from time to time without penalty other than customary breakage costs. No mandatory prepayments will be required other than when borrowings and letter of credit usage exceed availability; provided that, if Zulily, CBI, QVC Global or any other borrower (other than QVC) is removed, at the election of QVC, as a borrower thereunder, all of its loans must be repaid and its letters of credit are terminated or cash collateralized. Any amounts prepaid may be reborrowed. The facility matures on October 27, 2026. Payment of loans may be accelerated following certain customary events of default. In connection with Qurate Retail's divestiture of Zulily (see note 1), Zulily is no longer a co-borrower in the Credit Facility, and Zulily repaid its outstanding borrowings under the Fifth Amended and Restated Credit Agreement using cash contributed from Qurate Retail. On June 20, 2023, QVC, QVC Global and CBI, as borrowers, JPMorgan Chase Bank, N.A., as administrative agent, and the other parties thereto entered into a SOFR Transition and Other Agreements agreement whereby, in accordance with the Fifth Amended and Restated Credit Agreement, LIBOR-based rate loans denominated in US dollars made on or after June 30, 2023 would be replaced with Secured Overnight Financing Rate ("SOFR")-based rate loans. Borrowings that are SOFR-based loans will bear interest at a per annum rate equal to the applicable SOFR rate, plus a credit spread adjustment, plus a margin that varies between 1.25% and 1.625% depending on the Borrowers’ consolidated leverage ratio. In accordance with the accounting guidance for obligations resulting from joint and several liability arrangements, QVC will record a liability for amounts it has borrowed under the senior secured credit facility plus any additional amount it expects to repay on behalf of CBI. There were no borrowings by CBI outstanding on the Fifth Amended and Restated Credit Agreement as of June 30, 2023. As of December 31, 2022, there was $18 million borrowed by CBI on the senior secured credit facility, none of which the Company expected to repay on behalf of CBI. Prior to the removal of Zulily as a co-borrower, QVC recorded a liability for amounts it expected to repay on behalf of Zulily as part of a common control transaction with Qurate Retail. Upon repayment of Zulily's outstanding borrowings, QVC removed a $57 million liability for Zulily's borrowings during the three months ended June 30, 2023, which was treated as additional paid in capital in the consolidated statements of equity. There were no borrowings by Zulily outstanding on the Fifth Amended and Restated Credit Agreement as of December 31, 2022. Availability under the Fifth Amended and Restated Credit Agreement at June 30, 2023 was $1.76 billion. The interest rate on the senior secured credit facility was 6.6% and 3.0% at June 30, 2023 and 2022, respectively. The payment and performance of the Borrowers’ obligations under the Fifth Amended and Restated Credit Agreement are guaranteed by each of QVC’s, QVC Global’s and CBI’s Material Domestic Subsidiaries (as defined in the Fifth Amended and Restated Credit Agreement), if any, and certain other subsidiaries of any Borrower that such Borrower has chosen to provide guarantees. Further, the borrowings under the Fifth Amended and Restated Credit Agreement are secured, pari passu with QVC’s existing notes, by a pledge of all of QVC’s equity interests. The borrowings under the Fifth Amended and Restated Credit Agreement are also secured by a pledge of all of CBI’s equity interests. The Fifth Amended and Restated Credit Agreement contains certain affirmative and negative covenants, including certain restrictions on the Borrowers and each of their respective restricted subsidiaries (subject to certain exceptions) with respect to, among other things: incurring additional indebtedness; creating liens on property or assets; making certain loans or investments; selling or disposing of assets; paying certain dividends and other restricted payments; dissolving, consolidating or merging; entering into certain transactions with affiliates; entering into sale or leaseback transactions; restricting subsidiary distributions; and limiting the Borrowers’ consolidated leverage ratio. Other Debt Related Information QVC was in compliance with all of its debt covenants as of June 30, 2023. There are no restrictions under the debt agreements on QVC's ability to pay dividends or make other restricted payments if QVC is not in default on its senior secured notes or the Fifth Amended and Restated Credit Agreement and (i) with respect to QVC’s senior secured notes, QVC's consolidated leverage ratio would be no greater than 3.5 to 1.0 (“senior secured notes leverage basket”) and (ii) with respect to the Fifth Amended and Restated Credit Agreement, the consolidated net leverage ratio for QVC, QVC Global and CBI, would be no greater than 4.0 to 1.0. As of June 30, 2023, QVC’s consolidated leverage ratio (as calculated under QVC’s senior secured notes) was greater than 3.5 to 1.0 and as a result QVC is restricted in its ability to make dividends or other restricted payments under the senior secured notes. Although QVC will not be able to make unlimited dividends or other restricted payments under the senior secured notes leverage basket, QVC will continue to be permitted to make unlimited dividends under the senior secured notes to parent entities of QVC to service the principal and interest when due in respect of indebtedness of such parent entities (so long as there is no default under the indentures governing QVC’s senior secured notes) and permitted to make certain restricted payments to Qurate Retail under an intercompany tax sharing agreement (the “Tax Agreement”) in respect of certain tax obligations of QVC and its subsidiaries. The weighted average interest rate applicable to all of the outstanding debt (excluding finance leases) prior to amortization of bond discounts and related debt issuance costs was 5.6% and 4.7% and as of June 30, 2023 and 2022, respectively.

Lease and Transponder Service A

Lease and Transponder Service Agreements	3 Months Ended
Lease and Transponder Service Agreements	Jun. 30, 2023
Leases [Abstract]
Leases of Lessee	Leases Sale-Leaseback Transactions In November 2022, QVC-International entered into agreements to sell two properties located in Germany and the U.K. to an independent third party. Under the terms of the agreements, QVC received net cash proceeds of $102 million related to its German facility and $80 million related to its U.K. facility when the sale closed in January 2023. Concurrent with the sale, the Company entered into agreements to lease each of the properties back from the purchaser over an initial term of 20 years with the option to extend the terms of the property leases for up to four consecutive terms of five years. QVC recognized a $69 million and $44 million gain related to the successful sale leaseback of the German and U.K. properties, respectively, during the first quarter of 2023 calculated as the difference between the aggregate consideration received and the carrying value of the properties. The Company accounted for the leases as operating leases and recorded a $42 million and $32 million right-of-use asset and operating lease liability for the German and U.K. properties, respectively. As of December 31, 2022, assets of $71 million primarily related to the Germany and U.K. properties were classified as held for sale and included in Assets held for sale noncurrent in the consolidated balance sheet, as the proceeds from the sale were used to repay a portion of QVC's senior secured credit facility borrowings which were classified as noncurrent as of December 31, 2022. QVC classifies obligations as current when they are contractually required to be satisfied in the next twelve months. In June 2022, QVC modified the finance lease for its distribution center in Ontario, California which reduced the term of the lease and removed QVC’s ability to take ownership of the distribution center at the end of the lease term. QVC will make annual payments over the modified lease term. Since the lease was modified and removed QVC’s ability to take ownership at the end of the lease term, the Company accounted for the modification similar to a sale and leaseback transaction and, as a result, recognized a $240 million gain on the sale of the distribution center during the second quarter of 2022, calculated as the difference between the aggregate consideration received (including cash of $250 million and forgiveness of the remaining financing obligation of $84 million) and the carrying value of the distribution center. The gain is included in gains on sale of intangible asset and sale leaseback transactions in the consolidated statement of operations. The Company accounted for the modified lease as an operating lease and recorded a $37 million right-of-use asset and a $31 million operating lease liability, with the difference attributable to prepaid rent.

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income taxes	Income Taxes The Company calculates its interim income tax provision by applying its best estimate of the annual expected effective tax rate to its ordinary year-to-date income or loss. The tax or benefit related to significant, unusual or extraordinary items that will be separately reported or reported net of their related tax effect are individually computed and recognized in the interim period in which those items occur. The computation of the annual estimated effective tax rate at each interim period requires certain estimates and significant judgment including, but not limited to, the expected operating income for the year, projections of the proportion of income earned and taxed in foreign jurisdictions, permanent and temporary differences as a result of differences between amounts measured and recognized in accordance with tax laws and financial accounting standards, and the likelihood of recovering deferred tax assets. The accounting estimates used to compute the provision for income taxes may change as new events occur, additional information is obtained or as the tax environment changes. To the extent that the estimated annual effective tax rate changes during a quarter, the effect of the change on the prior quarters is included in the tax expense for the current quarter. For the three months ended June 30, 2023 and 2022, the Company recorded a tax provision of $88 million and $109 million, respectively, which represented an effective tax rate of 28.0% and 27.7%, respectively. For the six months ended June 30, 2023 and 2022, the Company recorded a tax provision of $139 million and $150 million, respectively, which represented an effective tax rate of 27.8% and 30.5%, respectively. The 2023 rate differs from the U.S. federal income tax rate of 21% primarily due to state and foreign tax expense and permanent items. The 2023 effective tax rate has decreased from the prior year for the six months ended June 30, 2023 primarily due to the reversal of tax expense accrued in prior periods related to the settlement of state income tax reserves. The Company participates in a consolidated federal return filing with Qurate Retail. As of June 30, 2023, the Company's tax years through 2017 are closed for federal income tax purposes, and the Internal Revenue Service ("IRS") has completed its examination of the Company's tax years through 2021. The Company's 2022 and 2023 tax years are being examined currently as part of the Qurate Retail consolidated return under the IRS's Compliance Assurance Process program. The Company, or one of its subsidiaries, files income tax returns in various states and foreign jurisdictions. As of June 30, 2023, the Company was under examination in Colorado, Florida, Minnesota, New Jersey, Pennsylvania, New York City, South Carolina, Wisconsin, Germany and the U.K. The Company is a party to the Tax Agreement with Qurate Retail. The Tax Agreement establishes the methodology for the calculation and payment of income taxes in connection with the consolidation of the Company with Qurate Retail for income tax purposes. Generally, the Tax Agreement provides that the Company will pay Qurate Retail an amount equal to the tax liability, if any, that it would have if it were to file as a consolidated group separate and apart from Qurate Retail, with exceptions for the treatment and timing of certain items, including but not limited to deferred intercompany transactions, credits, and net operating and capital losses. To the extent that the separate company tax expense is different from the payment terms of the Tax Agreement, the difference is recorded as either a dividend or capital contribution. The amounts of the tax-related payable due to Qurate Retail as of June 30, 2023 and December 31, 2022 were $10 million and $23 million, respectively, and were included in accrued liabilities in the accompanying condensed consolidated balance sheets.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesThe Company has contingent liabilities related to legal and tax proceedings and other matters arising in the ordinary course of business. Although it is reasonably possible the Company may incur losses upon conclusion of such matters, an estimate of any loss or range of loss cannot be made. In the opinion of management, it is expected that the amounts, if any, which may be required to satisfy such contingencies will not be material in relation to the accompanying condensed consolidated financial statements.Network and information systems, including the Internet and telecommunication systems, third party delivery services and other technologies are critical to QVC's business activities. Substantially all of QVC's customer orders, fulfillment and delivery services are dependent upon the use of network and information systems, including the use of third party telecommunication and delivery service providers. If information systems including the Internet or telecommunication services are disrupted, or if the third party delivery services experience a disruption in their transportation delivery services, the Company could face a significant disruption in fulfilling QVC's customer orders and shipment of QVC's products. The Company has active disaster recovery programs in place to help mitigate risks associated with these critical business activities.

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	6 Months Ended
Financial Instruments and Fair Value Measurements	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair value disclosures	Financial Instruments and Fair Value Measurements For assets and liabilities required to be reported or disclosed at fair value, U.S. GAAP provides a hierarchy that prioritizes inputs to valuation techniques used to measure fair value into three broad levels. Level 1 inputs are quoted market prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 inputs, other than quoted market prices included within Level 1, are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. The Company measures the fair value of money market funds based on quoted prices in active markets for identical assets. Money market funds are included as cash equivalents Level 1 fair value instruments in the table below. The 2067 Notes (ticker: QVCD) and the 2068 Notes (ticker: QVCC) are traded on the New York Stock Exchange, which the Company considers to be an "active market," as defined by U.S. GAAP. Therefore, these Notes are measured based on quoted prices in an active market and included as Level 1 fair value instruments in the table below. The remainder of the Company's debt instruments and derivative instruments are considered Level 2 fair value instruments and measured based on quoted market prices that are not considered to be traded on "active markets." Accordingly, these financial instruments are reported in the below tables as Level 2 fair value instruments. The Company's assets and liabilities measured or disclosed at fair value were as follows: Fair value measurements at June 30, 2023 using (in millions) Total Quoted prices Significant Significant Current assets: Cash equivalents $ 144 144 — — Current liabilities: Debt (note 4) 414 — 414 — Long-term liabilities: Debt (note 4) 3,251 306 2,945 — Fair value measurements at December 31, 2022 using (in millions) Total Quoted prices Significant Significant Current assets: Cash equivalents $ 64 64 — — Current liabilities: Debt (note 4) 213 — 213 — Foreign currency forwards 10 — 10 — Long-term liabilities: Debt (note 4) 3,520 346 3,174 — Interest Rate Swap Arrangement In July 2019, the Company entered into a three-year interest swap arrangement with a notional amount of $125 million to mitigate the interest rate risk associated with interest payments related to its variable rate debt. The swap arrangement did not qualify as a cash flow hedge under U.S. GAAP. Changes in the fair value of the swap arrangement are reflected in (losses) gains on financial instruments in the consolidated statements of operations. The swap arrangement expired in July 2022. Foreign Currency Forward Contracts On October 31, 2022, the Company entered into foreign currency forward contracts with an aggregate notional amount of $167 million to mitigate the foreign currency risk associated with the sale and leaseback of Germany and U.K. properties. The forwards did not qualify as a cash flow hedge under U.S. GAAP. Changes in the fair value of the forwards are reflected in (losses) gains on financial instruments in the consolidated statements of operations. The forwards were in a net liability position of $10 million as of December 31, 2022, which was included in accrued liabilities. The contract expired in January 2023 which resulted in a net cash settlement of $12 million.

Information about QVC's Operati

Information about QVC's Operating Segments	6 Months Ended
Information about QVC's Operating Segments	Jun. 30, 2023
Segment Reporting [Abstract]
Segment reporting disclosure	Information about QVC's Operating SegmentsThe Company's chief operating decision maker ("CODM") is the Company's Chief Executive Officer who has ultimate responsibility for enterprise decisions. QVC's CODM determines, in particular, resource allocation for, and monitors performance of, the consolidated enterprise, QxH, and QVC-International. The segment managers have responsibility for operating decisions, allocating resources and assessing performance within their respective segments. QVC's CODM relies on internal management reporting that analyzes enterprise results and segment results to the Adjusted OIBDA level (see below). For the three and six months ended June 30, 2023 and 2022, QVC identified QxH and QVC-International as its two reportable segments. Both operating segments are retailers of a wide range of consumer products, which are marketed and sold primarily by merchandise-focused televised-shopping programs as well as via the Internet and mobile applications in certain markets. Performance measures The Company evaluates performance and makes decisions about allocating resources to its operating segments based on financial measures such as net revenue, Adjusted OIBDA (defined below), gross margin, average sales price per unit, number of units shipped and revenue or sales per customer. For segment reporting purposes, the Company defines Adjusted OIBDA, as net revenue less cost of goods sold (excluding fire related costs, net of recoveries and Rocky Mount inventory losses, see note 10), operating expenses, and selling, general and administrative expenses (excluding stock-based compensation and restructuring costs). The Company believes this measure is an important indicator of the operational strength and performance of its segments by identifying those items that are not directly a reflection of each segment's performance or indicative of ongoing business trends. In addition, this measure allows management to view operating results and perform analytical comparisons and benchmarking among the Company's businesses and identify strategies to improve performance. This measure of performance excludes depreciation, amortization, impairment losses, gains on sale of intangible asset and sale leaseback transactions, restructuring and fire related costs, net of recoveries, Rocky Mount inventory losses and stock-based compensation that are included in the measurement of operating income pursuant to U.S. GAAP. Accordingly, Adjusted OIBDA should be considered in addition to, but not as a substitute for, operating income, net income, cash flow provided by operating activities and other measures of financial performance prepared in accordance with U.S. GAAP. Disaggregated revenue by segment and product category consisted of the following: Three months ended June 30, 2023 Six months ended June 30, 2023 (in millions) QxH QVC-International Total QxH QVC-International Total Home $ 602 244 846 1,237 481 1,718 Apparel 340 111 451 635 224 859 Beauty 264 143 407 510 276 786 Accessories 223 56 279 415 107 522 Electronics 82 15 97 192 32 224 Jewelry 65 35 100 142 74 216 Other revenue 42 2 44 88 4 92 Total net revenue $ 1,618 606 2,224 3,219 1,198 4,417 Three months ended June 30, 2022 Six months ended June 30, 2022 (in millions) QxH QVC-International Total QxH QVC-International Total Home $ 680 248 928 1,329 521 1,850 Apparel 356 117 473 652 234 886 Beauty 253 145 398 514 290 804 Accessories 241 58 299 443 113 556 Electronics 112 25 137 259 51 310 Jewelry 71 42 113 158 94 252 Other revenue 41 3 44 83 5 88 Total net revenue $ 1,754 638 2,392 3,438 1,308 4,746 Adjusted OIBDA is summarized as follows: Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 (in millions) Net Adjusted Net Adjusted Net Adjusted Net Adjusted QxH $ 1,618 185 1,754 232 3,219 324 3,438 457 QVC-International 606 77 638 95 1,198 149 1,308 199 Consolidated QVC $ 2,224 262 2,392 327 4,417 473 4,746 656 Other information Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 (in millions) Depreciation Amortization Depreciation Amortization Depreciation Amortization Depreciation Amortization QxH $ 14 67 22 66 29 130 45 137 QVC-International 8 5 10 4 16 8 22 7 Consolidated QVC $ 22 72 32 70 45 138 67 144 June 30, 2023 (in millions) Total Capital Property and equipment, net QxH $ 10,217 61 262 QVC-International 1,884 18 177 Consolidated QVC $ 12,101 79 439 The following table provides a reconciliation of Adjusted OIBDA to operating income and income before income taxes: Three months ended June 30, Six months ended June 30, (in millions) 2023 2022 2023 2022 Adjusted OIBDA $ 262 327 473 656 Gains on sale of intangible asset and sale leaseback transactions 6 243 119 243 Restructuring and fire related (costs), net of recoveries (including Rocky Mount inventory losses) 211 (16) 215 (98) Stock-based compensation (11) (10) (20) (18) Depreciation and amortization (94) (102) (183) (211) Operating income 374 442 604 572 (Losses) gains on financial instruments — — (1) 1 Interest expense, net (67) (63) (104) (125) Foreign currency (loss) gain (3) 21 (9) 29 Gain (loss) on extinguishment of debt 10 (6) 10 (6) Other income — — — 20 Income before income taxes $ 314 394 500 491

Unusual or Infrequently Occurri

Unusual or Infrequently Occurring Items	6 Months Ended
Unusual or Infrequently Occurring Items	Jun. 30, 2023
Unusual or Infrequent Items, or Both [Abstract]
Unusual or Infrequent Items, or Both, Disclosure	Fire at Rocky Mount Fulfillment Center On December 18, 2021, QVC experienced a fire at its Rocky Mount fulfillment center in North Carolina. Rocky Mount was the Company’s second-largest fulfillment center for QxH and the Company’s primary returns center for hard goods. The Company maintains property, general liability and business interruption insurance coverage. Based on the provisions of QVC’s insurance policies, the Company recorded estimated insurance recoveries for fire related costs for which recovery was deemed probable. As of December 31, 2022 the Company had an insurance receivable of $40 million recorded in accounts receivable in the consolidated balance sheet. In June 2023, the Company agreed to a final insurance settlement with its insurance company and received all remaining proceeds related to the Rocky Mount claim. As of December 31, 2022 and June 30, 2023, the Company recorded cumulative fire related costs of $407 million and $434 million, respectively, of which $16 million and $27 million, were recorded during the three and six months ended June 30, 2023, respectively. Cumulative costs as of December 31, 2022 and June 30,2023 include $119 million of costs that were not reimbursable by QVC’s insurance policies. As of December 31, 2022 and June 30, 2023 the Company received cumulative insurance proceeds of $380 million and $660 million, respectively, and recorded net gains, representing the proceeds received in excess of recoverable losses recognized, of $132 million during the year ended December 31, 2022 and $209 million and $213 million, respectively, during the three and six months ended June 30, 2023. Of the $280 million of insurance proceeds received during the six months ended June 30, 2023, $210 million represents recoveries for business interruption losses. The fire related costs and gains related to insurance recoveries are included in restructuring and fire related costs, net of (recoveries) in the condensed consolidated statement of operations. In February 2023, QVC sold the Rocky Mount fulfillment center to an independent third party and received net cash proceeds of $15 million. During the three months ended June 30,2023, QVC received an additional $2 million of proceeds from the sale that were released from escrow. QVC recognized gains on the sale of $2 million and $15 million during the three and six months ended June 30, 2023, respectively, calculated as the difference between the aggregate consideration received and the carrying value of the property. The gain is included in fire related costs, net of (recoveries) in the condensed consolidated statement of operations. During the six months ended June 30, 2022, the Company recorded $135 million of fire related costs including $95 million for the write-down of Rocky Mount inventory which was included in Cost of goods sold. Due to the circumstances surrounding the write-down of the inventory, this write-down has been excluded from Adjusted OIBDA (as defined in note 9).

Subsequent Events

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Subsequent EventsQVC declared and paid dividends to Qurate Retail in the amount of $33 million from July 1, 2023 to August 4, 2023.

Television Distribution Right_2

Television Distribution Rights, Net (Tables)	6 Months Ended
Television Distribution Rights, Net (Tables)	Jun. 30, 2023
Television Distribution Rights [Abstract]
Schedule of television distribution rights	Television distribution rights consisted of the following: (in millions) June 30, 2023 December 31, 2022 Television distribution rights $ 607 664 Less accumulated amortization (478) (592) Television distribution rights, net $ 129 72
Schedule of future amortization expense	As of June 30, 2023, related amortization expense for each of the next five years ended December 31 was as follows (in millions): Remainder of 2023 $ 50 2024 72 2025 7 2026 — 2027 —

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
Goodwill (Tables)	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	The changes in the carrying amount of goodwill by operating segment for the six months ended June 30, 2023 were as follows: (in millions) QxH QVC-International Total Balance as of December 31, 2022 $ 2,692 778 3,470 Exchange rate fluctuations — (1) (1) Balance as of June 30, 2023 $ 2,692 777 3,469
Schedule of acquired intangible assets by class	Other intangible assets consisted of the following: June 30, 2023 December 31, 2022 (in millions) Gross Accumulated Other intangible assets, net Gross Accumulated Other intangible assets, net Purchased and internally developed software $ 1,015 (736) 279 962 (670) 292 Affiliate and customer relationships 2,823 (2,659) 164 2,818 (2,630) 188 Debt origination fees 9 (4) 5 9 (3) 6 Trademarks (indefinite life) 2,698 — 2,698 2,698 — 2,698 $ 6,545 (3,399) 3,146 6,487 (3,303) 3,184
Schedule of finite-lived intangible assets future amortization expense	As of June 30, 2023, the related amortization and interest expense for each of the next five years ended December 31 was as follows (in millions): Remainder of 2023 $ 106 2024 168 2025 109 2026 65 2027 — QVC’s results have been challenged as a result of current business trends and global economic conditions. The Company will continue to monitor its current business performance versus the current and updated long-term forecasts, among other relevant considerations, to determine if the carrying value of its assets (including Goodwill and Trademarks) are appropriate. Future outlook declines in revenue, cash flows, or other factors could result in a sustained decrease in fair value that may result in a determination that material carrying value adjustments are required.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
Long-Term Debt (Tables)	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of debt	Long-term debt and finance lease obligations consisted of the following: (in millions) June 30, 2023 December 31, 2022 4.375% Senior Secured Notes due 2023, net of original issue discount $ — 214 4.85% Senior Secured Notes due 2024, net of original issue discount 423 600 4.45% Senior Secured Notes due 2025, net of original issue discount 585 599 4.75% Senior Secured Notes due 2027 575 575 4.375% Senior Secured Notes due 2028 500 500 5.45% Senior Secured Notes due 2034, net of original issue discount 399 399 5.95% Senior Secured Notes due 2043, net of original issue discount 300 300 6.375% Senior Secured Notes due 2067 225 225 6.25% Senior Secured Notes due 2068 500 500 Senior secured credit facility 1,430 1,057 Finance lease obligations 3 4 Less debt issuance costs, net (34) (36) Total debt and finance lease obligations 4,906 4,937 Less current portion (424) (216) Long-term portion of debt and finance lease obligations $ 4,482 4,721

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	6 Months Ended
Financial Instruments and Fair Value Measurements (Tables)	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of fair value, assets and liabilities measured on recurring basis	The Company's assets and liabilities measured or disclosed at fair value were as follows: Fair value measurements at June 30, 2023 using (in millions) Total Quoted prices Significant Significant Current assets: Cash equivalents $ 144 144 — — Current liabilities: Debt (note 4) 414 — 414 — Long-term liabilities: Debt (note 4) 3,251 306 2,945 — Fair value measurements at December 31, 2022 using (in millions) Total Quoted prices Significant Significant Current assets: Cash equivalents $ 64 64 — — Current liabilities: Debt (note 4) 213 — 213 — Foreign currency forwards 10 — 10 — Long-term liabilities: Debt (note 4) 3,520 346 3,174 —

Information about QVC's Opera_2

Information about QVC's Operating Segments (Tables)	6 Months Ended
Information about QVC's Operating Segments (Tables)	Jun. 30, 2023
Segment Reporting [Abstract]
Disaggregation of Revenue [Table Text Block]	Disaggregated revenue by segment and product category consisted of the following: Three months ended June 30, 2023 Six months ended June 30, 2023 (in millions) QxH QVC-International Total QxH QVC-International Total Home $ 602 244 846 1,237 481 1,718 Apparel 340 111 451 635 224 859 Beauty 264 143 407 510 276 786 Accessories 223 56 279 415 107 522 Electronics 82 15 97 192 32 224 Jewelry 65 35 100 142 74 216 Other revenue 42 2 44 88 4 92 Total net revenue $ 1,618 606 2,224 3,219 1,198 4,417 Three months ended June 30, 2022 Six months ended June 30, 2022 (in millions) QxH QVC-International Total QxH QVC-International Total Home $ 680 248 928 1,329 521 1,850 Apparel 356 117 473 652 234 886 Beauty 253 145 398 514 290 804 Accessories 241 58 299 443 113 556 Electronics 112 25 137 259 51 310 Jewelry 71 42 113 158 94 252 Other revenue 41 3 44 83 5 88 Total net revenue $ 1,754 638 2,392 3,438 1,308 4,746
Schedule of Revenue and Adjusted OIBDA by Segment	Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 (in millions) Net Adjusted Net Adjusted Net Adjusted Net Adjusted QxH $ 1,618 185 1,754 232 3,219 324 3,438 457 QVC-International 606 77 638 95 1,198 149 1,308 199 Consolidated QVC $ 2,224 262 2,392 327 4,417 473 4,746 656
Schedule of Depreciation and Amortization by Segment	Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 (in millions) Depreciation Amortization Depreciation Amortization Depreciation Amortization Depreciation Amortization QxH $ 14 67 22 66 29 130 45 137 QVC-International 8 5 10 4 16 8 22 7 Consolidated QVC $ 22 72 32 70 45 138 67 144
Schedule of Capital Expenditures and Total Assets by Segment	June 30, 2023 (in millions) Total Capital Property and equipment, net QxH $ 10,217 61 262 QVC-International 1,884 18 177 Consolidated QVC $ 12,101 79 439
Reconciliation of Adjusted OIBDA to Income before Income Taxes	The following table provides a reconciliation of Adjusted OIBDA to operating income and income before income taxes: Three months ended June 30, Six months ended June 30, (in millions) 2023 2022 2023 2022 Adjusted OIBDA $ 262 327 473 656 Gains on sale of intangible asset and sale leaseback transactions 6 243 119 243 Restructuring and fire related (costs), net of recoveries (including Rocky Mount inventory losses) 211 (16) 215 (98) Stock-based compensation (11) (10) (20) (18) Depreciation and amortization (94) (102) (183) (211) Operating income 374 442 604 572 (Losses) gains on financial instruments — — (1) 1 Interest expense, net (67) (63) (104) (125) Foreign currency (loss) gain (3) 21 (9) 29 Gain (loss) on extinguishment of debt 10 (6) 10 (6) Other income — — — 20 Income before income taxes $ 314 394 500 491

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Millions	6 Months Ended
Basis of Presentation (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 30, 2020
General business information
Dividends paid to noncontrolling interest	$ 24	$ 27
Receivable with Imputed Interest, Effective Yield (Interest Rate)	0.48%
Restructuring Charges	$ 13
QVC-Japan
General business information
Investment Owned, Percent of Net Assets	60%
QVC-Japan \| Mitsui [Domain]
General business information
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	40%
Qurate
General business information
Repayment of Notes Receivable from Related Parties	$ 1,740		$ 1,740	$ 1,800
Interest Income (Expense), Nonoperating, Net	4	4
QVC to Zulily allocated expenses [Member] \| zulily, llc [Member]
General business information
Related Party Transaction, Amounts of Transaction	3	4
Zulily to QVC allocated expenses [Member] \| zulily, llc [Member]
General business information
Related Party Transaction, Amounts of Transaction	2	5
QVC to CBI Allocated Expenses [Member] \| Cornerstone Brands Inc [Member]
General business information
Related Party Transaction, Amounts of Transaction	13	13
CBI to QVC allocated expenses [Member] \| Cornerstone Brands Inc [Member]
General business information
Related Party Transaction, Amounts of Transaction	1	$ 1
QVC to Zulily loan [Member] \| zulily, llc [Member]
General business information
Line of Credit Facility, Maximum Borrowing Capacity	$ 100
Line of Credit Facility, Interest Rate Description	variable interest rate equal to the LIBOR rate plus an applicable margin rate

Television Distribution Right_3

Television Distribution Rights, Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Television distribution rights, net	$ 129		$ 129		$ 72
Television distribution rights
Finite-Lived Intangible Assets [Line Items]
Television distribution rights	607		607		664
Less accumulated amortization	(478)		(478)		(592)
Television distribution rights, net	129		129		$ 72
Amortization	$ 26	$ 28	$ 50	$ 59

Television Distribution Right_4

Television Distribution Rights, Net (Future Amortization Expense) (Details) - Television distribution rights $ in Millions	Jun. 30, 2023 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2023	$ 50
2024	72
2025	7
2026	0
2027	$ 0

Intangible Assets, Goodwill and

Intangible Assets, Goodwill and Other (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Goodwill [Line Items]
Balance as of December 31, 2022			$ 3,470
Exchange rate fluctuations			(1)
Balance as of June 30, 2023	$ 3,469		3,469
Gross cost
Purchased and internally developed software	1,015		1,015		$ 962
Affiliate and customer relationships	2,823		2,823		2,818
Debt origination fees	9		9		9
Indefinite-Lived Trademarks	2,698		2,698		2,698
Other intangible assets (excluding goodwill), gross	6,545		6,545		6,487
Accumulated amortization
Purchased and internally developed software	(736)		(736)		(670)
Affiliate and customer relationships	(2,659)		(2,659)		(2,630)
Debt origination fees	(4)		(4)		(3)
Other intangible assets (excluding goodwill), accumulated amortization	(3,399)		(3,399)		(3,303)
Other intangible assets, net
Purchased and internally developed software	279		279		292
Affiliate and customer relationships	164		164		188
Debt origination fees	5		5		6
Other intangible assets (excluding goodwill), net	3,146		3,146		$ 3,184
Finite-Lived Intangible Assets [Line Items]
Amortization of other intangible assets	46	$ 42	$ 88	$ 85
Document Period End Date			Jun. 30, 2023
QxH [Member]
Goodwill [Line Items]
Balance as of December 31, 2022			$ 2,692
Exchange rate fluctuations			0
Balance as of June 30, 2023	2,692		2,692
QVC- International [Member]
Goodwill [Line Items]
Balance as of December 31, 2022			778
Exchange rate fluctuations			(1)
Balance as of June 30, 2023	777		777
Other Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Remainder of 2023	106		106
2024	168		168
2025	109		109
2026	65		65
2027	$ 0		$ 0

Long-Term Debt (Debt) (Details)

Long-Term Debt (Debt) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
Long-Term Debt (Debt) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Debt Instrument [Line Items]
Debt Issuance Costs, Noncurrent, Net	$ (34)	$ (34)		$ (36)
Total debt and finance lease obligations	4,906	4,906		4,937
Debt, Current	(424)	(424)		(216)
Long-term Debt, Excluding Current Maturities	$ 4,482	4,482		4,721
Repayments of Secured Debt		$ 396	$ 536
4.375% Senior Secured Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.375%	4.375%
Debt Instrument Net of Unamortized Discounts Premium	$ 0	$ 0		214
4.85% Senior Secured Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.85%	4.85%
Debt Instrument Net of Unamortized Discounts Premium	$ 423	$ 423		600
Repayments of Secured Debt	$ 177
4.45% Senior Secured Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.45%	4.45%
Debt Instrument Net of Unamortized Discounts Premium	$ 585	$ 585		599
Repayments of Secured Debt	$ 15
4.75% Senior Secured Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.75%	4.75%
Debt Instrument Net of Unamortized Discounts Premium	$ 575	$ 575		575
4.375% Senior Secured Notes due 2028
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.375%	4.375%
Debt Instrument Net of Unamortized Discounts Premium	$ 500	$ 500		500
5.45% Senior Secured Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.45%	5.45%
Debt Instrument Net of Unamortized Discounts Premium	$ 399	$ 399		399
5.950% Senior Secured Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.95%	5.95%
Debt Instrument Net of Unamortized Discounts Premium	$ 300	$ 300		300
6.375% Senior Secured Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.375%	6.375%
Debt Instrument Net of Unamortized Discounts Premium	$ 225	$ 225		225
6.25% Senior Secured Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.25%	6.25%
Debt Instrument Net of Unamortized Discounts Premium	$ 500	$ 500		500
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument Net of Unamortized Discounts Premium	1,430	1,430		1,057
Finance lease obligations
Debt Instrument [Line Items]
Finance Lease, Liability	$ 3	$ 3		$ 4

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
Long-Term Debt (Narrative) (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Oct. 27, 2021
Debt Instrument [Line Items]
Repayments of Secured Debt			$ 396,000,000	$ 536,000,000
Gain (Loss) on Extinguishment of Debt	$ 10,000,000	$ (6,000,000)	10,000,000	$ (6,000,000)
Line of Credit Facility, Remaining Borrowing Capacity	$ 1,760,000,000		$ 1,760,000,000
Line of Credit Facility, Interest Rate at Period End	6.60%	3%	6.60%	3%
Debt, Weighted Average Interest Rate	5.60%	4.70%	5.60%	4.70%
Zulily, llc
Debt Instrument [Line Items]
Common control transaction with Qurate Retail, Inc.	$ 57,000,000
Cornerstone Brands Inc [Member]
Debt Instrument [Line Items]
Obligation with Joint and Several Liability Arrangement, Amount Outstanding					$ 18,000,000
6.375% Senior Secured Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.375%		6.375%
6.25% Senior Secured Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.25%		6.25%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity						$ 3,250,000,000
Revolving Credit Facility [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			1.25%
Revolving Credit Facility [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			1.625%
Revolving Credit Facility [Member] \| ABR Rate \| Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			0.25%
Revolving Credit Facility [Member] \| ABR Rate \| Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			0.625%
Standby Letters of Credit
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity						450,000,000
Alternative Currency Borrowings
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity						$ 0.50

Lease and Transponder Service_2

Lease and Transponder Service Agreements (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Sale and Leaseback Transaction, Gain (Loss), Net		$ 119	$ 243
Operating Lease, Right-of-Use Asset		475		$ 419
Asset, Held-for-Sale, Not Part of Disposal Group		0		$ 71
Proceeds from Sale of Property, Plant, and Equipment		200	256
German Facility
Lessee, Lease, Description [Line Items]
Proceeds from Sale, Property, Held-for-Sale		102
Sale and Leaseback Transaction, Gain (Loss), Net		69
Operating Lease, Right-of-Use Asset		42
United Kingdom Facility
Lessee, Lease, Description [Line Items]
Proceeds from Sale, Property, Held-for-Sale		80
Sale and Leaseback Transaction, Gain (Loss), Net		44
Operating Lease, Liability		$ 32
Ontario Distribution Center
Lessee, Lease, Description [Line Items]
Sale and Leaseback Transaction, Gain (Loss), Net	$ 240
Operating Lease, Right-of-Use Asset	37		37
Operating Lease, Liability	31		31
Proceeds from Sale of Property, Plant, and Equipment	250
Finance Lease, Liability	$ 84		$ 84

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Income Tax Contingency [Line Items]
Income tax expense	$ (88)	$ (109)	$ (139)	$ (150)
Effective Income Tax Rate Reconciliation, Percent	28%	27.70%	27.80%	30.50%
UNITED STATES
Income Tax Contingency [Line Items]
Effective income tax rate reconciliation, at federal statutory income tax rate, percent			21%
Liberty \| Tax Agreement
Income Tax Contingency [Line Items]
Taxes Payable	$ 10		$ 10		$ 23

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022	Jul. 01, 2019
Long-term liabilities
Derivative, Notional Amount		$ 167	$ 125
Foreign Currency Contracts, Liability, Fair Value Disclosure		10
Derivative, Cost of Hedge Net of Cash Received	$ 12
Recurring
Current Assets, Fair Value Disclosure
Cash equivalents	144	64
Short-term Debt, Fair Value	414	213
Derivative Liability, Current		10
Long-term liabilities
Long-term Debt, Fair Value	3,251	3,520
Recurring \| Level 1
Current Assets, Fair Value Disclosure
Cash equivalents	144	64
Long-term liabilities
Long-term Debt, Fair Value	306	346
Recurring \| Level 2
Current Assets, Fair Value Disclosure
Short-term Debt, Fair Value	414	213
Derivative Liability, Current		10
Long-term liabilities
Long-term Debt, Fair Value	$ 2,945	$ 3,174

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Revenue (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 2,224	$ 2,392	$ 4,417	$ 4,746
Home
Disaggregation of Revenue [Line Items]
Revenues	846	928	1,718	1,850
Apparel [Member]
Disaggregation of Revenue [Line Items]
Revenues	451	473	859	886
Beauty [Member]
Disaggregation of Revenue [Line Items]
Revenues	407	398	786	804
Accessories
Disaggregation of Revenue [Line Items]
Revenues	279	299	522	556
Jewelry
Disaggregation of Revenue [Line Items]
Revenues	100	113	216	252
Electronics
Disaggregation of Revenue [Line Items]
Revenues	97	137	224	310
Other revenue
Disaggregation of Revenue [Line Items]
Revenues	44	44	92	88
QxH [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,618	1,754	3,219	3,438
QxH [Member] \| Home
Disaggregation of Revenue [Line Items]
Revenues	602	680	1,237	1,329
QxH [Member] \| Apparel [Member]
Disaggregation of Revenue [Line Items]
Revenues	340	356	635	652
QxH [Member] \| Beauty [Member]
Disaggregation of Revenue [Line Items]
Revenues	264	253	510	514
QxH [Member] \| Accessories
Disaggregation of Revenue [Line Items]
Revenues	223	241	415	443
QxH [Member] \| Jewelry
Disaggregation of Revenue [Line Items]
Revenues	65	71	142	158
QxH [Member] \| Electronics
Disaggregation of Revenue [Line Items]
Revenues	82	112	192	259
QxH [Member] \| Other revenue
Disaggregation of Revenue [Line Items]
Revenues	42	41	88	83
QVC- International [Member]
Disaggregation of Revenue [Line Items]
Revenues	606	638	1,198	1,308
QVC- International [Member] \| Home
Disaggregation of Revenue [Line Items]
Revenues	244	248	481	521
QVC- International [Member] \| Apparel [Member]
Disaggregation of Revenue [Line Items]
Revenues	111	117	224	234
QVC- International [Member] \| Beauty [Member]
Disaggregation of Revenue [Line Items]
Revenues	143	145	276	290
QVC- International [Member] \| Accessories
Disaggregation of Revenue [Line Items]
Revenues	56	58	107	113
QVC- International [Member] \| Jewelry
Disaggregation of Revenue [Line Items]
Revenues	35	42	74	94
QVC- International [Member] \| Electronics
Disaggregation of Revenue [Line Items]
Revenues	15	25	32	51
QVC- International [Member] \| Other revenue
Disaggregation of Revenue [Line Items]
Revenues	$ 2	$ 3	$ 4	$ 5

Information about QVC's Opera_3

Information about QVC's Operating Segments (Revenue and Adjusted OIBDA by Segment) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Adjusted OIBDA Excluding Transaction Related Costs	$ 262	$ 327	$ 473	$ 656
Revenues	2,224	2,392	4,417	4,746
QxH [Member]
Segment Reporting Information [Line Items]
Adjusted OIBDA Excluding Transaction Related Costs	185	232	324	457
Revenues	1,618	1,754	3,219	3,438
QVC- International [Member]
Segment Reporting Information [Line Items]
Adjusted OIBDA Excluding Transaction Related Costs	77	95	149	199
Revenues	$ 606	$ 638	$ 1,198	$ 1,308

Information about QVC's Opera_4

Information about QVC's Operating Segments (Depreciation/Amortization by Segment) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Depreciation	$ 22	$ 32	$ 45	$ 67
Amortization	72	70	138	144
QxH [Member]
Segment Reporting Information [Line Items]
Depreciation	14	22	29	45
Amortization	67	66	130	137
QVC- International [Member]
Segment Reporting Information [Line Items]
Depreciation	8	10	16	22
Amortization	$ 5	$ 4	$ 8	$ 7

Information about QVC's Opera_5

Information about QVC's Operating Segments (Total Assets and Capital Expenditures by Segment) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total assets	$ 12,101	$ 12,404
Capital expenditures	79
Property, Plant and Equipment, Net	439	$ 472
QxH [Member]
Segment Reporting Information [Line Items]
Total assets	10,217
Capital expenditures	61
Property, Plant and Equipment, Net	262
QVC- International [Member]
Segment Reporting Information [Line Items]
Total assets	1,884
Capital expenditures	18
Property, Plant and Equipment, Net	$ 177

Information about QVC's Opera_6

Information about QVC's Operating Segments (Reconciliation of Adjusted OIBDA to Income before Income Taxes) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting [Abstract]
Adjusted OIBDA Excluding Transaction Related Costs	$ 262	$ 327	$ 473	$ 656
Gain (Loss) on Disposition of Assets	6	243	119	243
Stock-based compensation	(11)	(10)	(20)	(18)
Depreciation and amortization	(94)	(102)	(183)	(211)
Operating Income (Loss)	374	442	604	572
Gain (Loss) on Derivative Instruments, Net, Pretax	0	0	(1)	1
Interest expense, net	(67)	(63)	(104)	(125)
Foreign currency (loss) gain	(3)	21	(9)	29
Gain (Loss) on Extinguishment of Debt	10	(6)	10	(6)
Other Income	0	0	0	20
Income before income taxes	314	394	500	491
Fire related costs, net and Rocky Mount inventory losses
Segment Reporting [Abstract]
Unusual or Infrequent Item, or Both, Net (Gain) Loss	211	(16)	215	(98)
Segment Reporting Information [Line Items]
Unusual or Infrequent Item, or Both, Net (Gain) Loss	$ (211)	$ 16	$ (215)	$ 98

Unusual or Infrequently Occur_2

Unusual or Infrequently Occurring Items (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended		12 Months Ended		18 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2022	Jun. 30, 2023
Unusual or Infrequent Item, or Both [Line Items]
Unusual or Infrequent Item, or Both, Gain, Gross				$ 228	$ 0
Proceeds from Sale of Property, Plant, and Equipment				200	256
Gain (Loss) on Disposition of Assets	$ 6		$ 243	119	243
Unusual or Infrequent Item, or Both, Loss, Gross					135
Rocky Mount Fulfillment Center
Unusual or Infrequent Item, or Both [Line Items]
Proceeds from Sale of Property, Plant, and Equipment	2	$ 15
Gain (Loss) on Disposition of Assets	2			15
QVC Rocky Mount Fire
Unusual or Infrequent Item, or Both [Line Items]
Insurance Settlements Receivable						$ 40	$ 40
Accumulated Fire Related Costs						407		$ 434
Fire Related Costs	16			27
Accumulated Fire Related Costs Not Reimbursable						119		119
Unusual or Infrequent Item, or Both, Insurance Proceeds				280		$ 380		$ 660
Unusual or Infrequent Item, or Both, Gain, Gross	$ 209			213			$ 132
Insurance Proceeds Received For Business Interruption Loss				$ 210
Inventory Write-down					$ 95

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	1 Months Ended
Subsequent Events (Details) $ in Millions	Aug. 04, 2023 USD ($)
Subsequent Event [Member] \| Qurate
Subsequent Event [Line Items]
Dividends Declared to Parent Company	$ 33