Qurate Retail (QRTEA) 10-Q4 Aug 232023 Q2 Quarterly reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Jun. 30, 2023	Jul. 31, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-33982
Entity Registrant Name	QURATE RETAIL, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-1288730
Entity Address, Address Line One	12300 Liberty Boulevard
Entity Address, City or Town	Englewood
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80112
City Area Code	720
Local Phone Number	875-5300
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001355096
Amendment Flag	false
Common Class A
Document Information [Line Items]
Title of 12(b) Security	Series A common stock
Trading Symbol	QRTEA
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		380,088,011
Common Class B
Document Information [Line Items]
Title of 12(b) Security	Series B common stock
Trading Symbol	QRTEB
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		8,700,380
8.0% Series A Cumulative Redeemable Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	8.0% Series A Cumulative Redeemable Preferred Stock
Trading Symbol	QRTEP
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 1,483	$ 1,275
Trade and other receivables, net of allowance for credit losses of $93 million and $111 million, respectively	931	1,394
Inventory, net	1,168	1,346
Indemnification agreement receivable	10	50
Other current assets	167	210
Total current assets	3,759	4,275
Property and equipment, net	513	570
Intangible assets not subject to amortization (note 5):
Goodwill	3,482	3,501
Trademarks	2,698	2,718
Intangible assets not subject to amortization	6,180	6,219
Intangible assets subject to amortization, net (note 5)	610	612
Operating lease right-of-use assets	585	585
Other assets, at cost, net of accumulated amortization	152	310
Total assets	11,799	12,571
Current liabilities:
Accounts payable	697	976
Accrued liabilities	843	1,133
Current portion of debt, $287 million and $614 million measured at fair value (note 6)	710	828
Other current liabilities	147	162
Total current liabilities	2,397	3,099
Long-term debt (note 6)	5,268	5,525
Deferred income tax liabilities	1,478	1,440
Preferred stock (note 7)	1,269	1,266
Operating lease liabilities	544	518
Other liabilities	116	198
Total liabilities	11,072	12,046
Stockholders' equity:
Additional paid-in capital	79	53
Accumulated other comprehensive earnings (loss), net of taxes	71	18
Retained earnings	467	337
Total stockholders' equity	621	412
Noncontrolling interests in equity of subsidiaries	106	113
Total equity	727	525
Commitments and contingencies (note 8)
Total liabilities and equity	11,799	12,571
Common Class A
Stockholders' equity:
Common stock value	4	4
Common Class B
Stockholders' equity:
Common stock value
Common Class C
Stockholders' equity:
Common stock value

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Allowance for doubtful accounts	$ 93	$ 111
Current portion of debt, fair value	$ 287	$ 614
Common Class A
Common stock, par or stated value per share	$ 0.01	$ 0.01
Common stock, shares authorized	4,000,000,000	4,000,000,000
Common stock, shares issued	380,088,011	374,390,323
Common stock, shares outstanding	380,088,011	374,390,323
Common Class B
Common stock, par or stated value per share	$ 0.01	$ 0.01
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	8,700,380	8,373,512
Common stock, shares outstanding	8,700,380	8,373,512
Common Class C
Common stock, par or stated value per share	$ 0.01	$ 0.01
Common stock, shares authorized	4,000,000,000	4,000,000,000
Common stock, shares issued	0	0

Condensed Consolidated Statemen

Condensed 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
Revenue:
Total revenue, net	$ 2,649	$ 2,953	$ 5,293	$ 5,836
Type of revenue	us-gaap:RetailMember	us-gaap:RetailMember	us-gaap:RetailMember	us-gaap:RetailMember
Operating costs and expenses:
Cost of goods sold (exclusive of depreciation shown separately below)	$ 1,734	$ 1,978	$ 3,543	$ 3,980
Type of cost of retail sales	us-gaap:RetailMember	us-gaap:RetailMember	us-gaap:RetailMember	us-gaap:RetailMember
Operating expense	$ 193	$ 198	$ 387	$ 394
Selling, general and administrative, including stock-based compensation (note 2)	466	461	944	906
Restructuring and fire related costs, net of (recoveries) (note 8)	(208)	7	(208)	11
Depreciation and amortization	104	134	204	264
Gains on sale of intangible asset and sale leaseback transactions (note 8)	(6)	(243)	(119)	(243)
Total operating costs and expenses	2,283	2,535	4,751	5,312
Operating income (loss)	366	418	542	524
Other income (expense):
Interest expense	(123)	(119)	(217)	(236)
Realized and unrealized gains (losses) on financial instruments, net (note 4)	(33)	7	(80)	37
Loss on disposition of Zulily, net	(64)		(64)
Gain (loss) on extinguishment of debt	29	(6)	44	(6)
Other, net	10	41	25	93
Total other income (expense)	(181)	(77)	(292)	(112)
Earnings (loss) before income taxes	185	341	250	412
Income tax (expense) benefit	(66)	(120)	(98)	(178)
Net earnings (loss)	119	221	152	234
Less net earnings (loss) attributable to the noncontrolling interests	12	18	25	30
Net earnings (loss) attributable to Qurate Retail, Inc. shareholders	$ 107	$ 203	$ 127	$ 204
Earnings (Loss) Per Common Share
Basic net earnings (loss) attributable to Series A and Series B Qurate Retail, Inc. shareholders per common share (note 3):	$ 0.28	$ 0.53	$ 0.33	$ 0.54
Diluted net earnings (loss) attributable to Series A and Series B Qurate Retail, Inc. shareholders per common share (note 3):	$ 0.28	$ 0.53	$ 0.33	$ 0.53

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Earnings (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Condensed Consolidated Statements of Comprehensive Earnings (Loss)
Net earnings (loss)	$ 119	$ 221	$ 152	$ 234
Other comprehensive earnings (loss), net of taxes:
Foreign currency translation adjustments	(24)	(143)	(4)	(203)
Recognition of previously unrealized losses (gains) on debt, net	(13)		(32)
Credit risk on fair value debt instruments gains (loss)	(48)	145	81	174
Other comprehensive earnings (loss)	(85)	2	45	(29)
Comprehensive earnings (loss)	34	223	197	205
Less comprehensive earnings (loss) attributable to the noncontrolling interests	5	5	17	11
Comprehensive earnings (loss) attributable to Qurate Retail, Inc. shareholders	$ 29	$ 218	$ 180	$ 194

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net earnings (loss)	$ 152	$ 234
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation and amortization	204	264
Stock-based compensation	30	31
Realized and unrealized (gains) losses on financial instruments, net	80	(37)
(Gains) losses on sale leaseback transactions	(119)	(243)
Gain on insurance proceeds, net of fire related costs	(228)
Insurance proceeds received for operating expenses and business interruption losses	226	30
Loss on disposition of Zulily, net	64
(Gain) loss on extinguishment of debt	(44)	6
Deferred income tax expense (benefit)	25	56
Other, net	16	(40)
Changes in operating assets and liabilities
Decrease (increase) in accounts receivable	403	420
Decrease (increase) in inventory	131	(139)
Decrease (increase) in prepaid expenses and other assets	61	41
(Decrease) increase in trade accounts payable	(220)	(364)
(Decrease) increase in accrued and other liabilities	(313)	(317)
Net cash provided (used) by operating activities	468	(58)
Cash flows from investing activities:
Capital expenditures	(105)	(101)
Expenditures for television distribution rights	(107)	(15)
Cash proceeds from dispositions of investments	71	12
Cash paid for disposal of Zulily	(28)
Proceeds from sale of fixed assets	200	256
Insurance proceeds received for fixed asset loss	54	70
Payments for settlements of financial instruments	(179)
Proceeds from settlements of financial instruments	167
Other investing activities, net	(1)	15
Net cash provided (used) by investing activities	72	237
Cash flows from financing activities:
Borrowings of debt	1,002	1,355
Repayments of debt	(1,320)	(1,466)
Dividends paid to noncontrolling interest	(24)	(27)
Dividends paid to common shareholders	(7)	(10)
Indemnification agreement settlement	25
Other financing activities, net	(2)	(18)
Net cash provided (used) by financing activities	(326)	(166)
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash	(7)	(39)
Net increase (decrease) in cash, cash equivalents and restricted cash	207	(26)
Cash, cash equivalents and restricted cash at beginning of period	1,285	596
Cash, cash equivalents and restricted cash at end of period	$ 1,492	$ 570

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Condensed Consolidated Statements of Cash Flows
Cash and cash equivalents	$ 1,483	$ 1,275
Restricted cash included in other current assets	$ 9	$ 10
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List]	Other Assets, Current	Other Assets, Current
Total cash, cash equivalents and restricted cash in the condensed consolidated statement of cash flows	$ 1,492	$ 1,285

Condensed Consolidated Statem_5

Condensed Consolidated Statement of Equity - USD ($) $ in Millions	Common Class A Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Earnings (loss), Net of taxes	Retained Earnings	Noncontrolling Interest In Equity Of Subsidiaries	Total
Balance at Dec. 31, 2021	$ 4		$ (79)	$ 2,925	$ 136	$ 2,986
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)				204	30	234
Other comprehensive earnings (loss)			(10)		(19)	(29)
Stock-based compensation		$ 30				30
Distribution to noncontrolling interest					(28)	(28)
Withholding taxes on net share settlements of stock-based compensation		(8)				(8)
Other		1		5		6
Balance at Jun. 30, 2022	4	23	(89)	3,134	119	3,191
Balance at Mar. 31, 2022	4	7	(104)	2,929	127	2,963
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)				203	18	221
Other comprehensive earnings (loss)			15		(13)	2
Stock-based compensation		16				16
Distribution to noncontrolling interest					(13)	(13)
Withholding taxes on net share settlements of stock-based compensation		(1)				(1)
Other		1		2		3
Balance at Jun. 30, 2022	4	23	(89)	3,134	119	3,191
Balance at Dec. 31, 2022	4	53	18	337	113	525
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)				127	25	152
Other comprehensive earnings (loss)			53		(8)	45
Stock-based compensation		25				25
Distribution to noncontrolling interest					(24)	(24)
Withholding taxes on net share settlements of stock-based compensation		(1)				(1)
Other		2		3		5
Balance at Jun. 30, 2023	4	79	71	467	106	727
Balance at Mar. 31, 2023	4	67	149	358	113	691
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)				107	12	119
Other comprehensive earnings (loss)			(78)		(7)	(85)
Stock-based compensation		11				11
Distribution to noncontrolling interest					(12)	(12)
Other		1		2		3
Balance at Jun. 30, 2023	$ 4	$ 79	$ 71	$ 467	$ 106	$ 727

Basis of Presentation

Basis of Presentation	6 Months Ended
Basis of Presentation	Jun. 30, 2023
Basis of Presentation
Basis of Presentation	(1) Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of Qurate Retail, Inc. and its controlled subsidiaries (collectively, "Qurate Retail," the "Company," “Consolidated Qurate Retail,” “us,” “we,” or “our” unless the context otherwise requires). All significant intercompany accounts and transactions have been eliminated in consolidation. Qurate Retail is made up of wholly-owned subsidiaries QVC, Inc. (“QVC”), which includes HSN, Inc. (“HSN”), Cornerstone Brands, Inc. (“CBI”), and other cost method investments. Qurate Retail is primarily engaged in the video and online commerce industries in North America, Europe and Asia. The businesses of the Company’s wholly-owned subsidiaries, QVC and CBI, are seasonal due to a higher volume of sales in the fourth calendar quarter related to year-end holiday shopping. 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 ("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 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. Additionally, certain prior period amounts have been reclassified for comparability with current period presentation. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in Qurate Retail's Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 10-K”). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of 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. Qurate Retail considers (i) fair value measurements, (ii) accounting for income taxes, and (iii) estimates of retail-related adjustments and allowances to be its most significant estimates. Qurate Retail has entered into certain agreements with Liberty Media Corporation ("LMC"), a separate publicly traded company. These agreements include a reorganization agreement, services agreement and facilities sharing agreement. As a result of certain corporate transactions, LMC and Qurate Retail may have obligations to each other for certain tax related matters. Neither Qurate Retail nor LMC has any stock ownership, beneficial or otherwise, in the other. In connection with a split-off transaction that occurred in the first quarter of 2018 (the “GCI Liberty Split-Off”), Qurate Retail and GCI Liberty, Inc. (“GCI Liberty”) entered into a tax sharing agreement. Pursuant to the tax sharing agreement, GCI Liberty agreed to indemnify Qurate Retail for taxes and tax-related losses resulting from the GCI Liberty Split-Off to the extent such taxes or tax-related losses (i) result primarily from, individually or in the aggregate, the breach of certain restrictive covenants made by GCI Liberty (applicable to actions or failures to act by GCI Liberty and its subsidiaries following the completion of the GCI Liberty Split-Off), or (ii) result from Section 355(e) of the Internal Revenue Code applying to the GCI Liberty Split-Off as a result of the GCI Liberty Split-Off being part of a plan (or series of related transactions) pursuant to which one or more persons acquire, directly or indirectly, a 50-percent or greater interest (measured by vote or value) in the stock of GCI Liberty (or any successor corporation). Following a merger between Liberty Broadband Corporation (“Liberty Broadband”) and GCI Liberty, Liberty Broadband has assumed the tax sharing agreement. In December 2019, the Company entered into an amendment to the services agreement in connection with LMC’s entry into a new employment arrangement with Gregory B. Maffei, the Company’s Chairman of the Board (the “Chairman” or “Mr. Maffei”). Under the amended services agreement, components of his compensation will either be paid directly to him by each of the Company, Liberty TripAdvisor Holdings, Inc., and Liberty Broadband (collectively, the “Service Companies”) or reimbursed to LMC, in each case, based on allocations among LMC and the Service Companies set forth in the amended services agreement, currently set at 11% for the Company. The reorganization agreement with LMC provides for, among other things, provisions governing the relationship between Qurate Retail and LMC, including certain cross-indemnities. Pursuant to the services agreement, LMC provides Qurate Retail with certain general and administrative services including legal, tax, accounting, treasury and investor relations support. Qurate Retail reimburses LMC for direct, out-of-pocket expenses incurred by LMC in providing these services and for Qurate Retail's allocable portion of costs associated with any shared services or personnel based on an estimated percentage of time spent providing services to Qurate Retail. Under the facilities sharing agreement, LMC shares office space and related amenities at its corporate headquarters with Qurate Retail. Under these various agreements, approximately $2 million and $2 million was reimbursable to LMC for the three months ended June 30, 2023 and 2022, respectively, and $4 million and $5 million was reimbursable to LMC for the six months ended June 30, 2023 and 2022, respectively. Qurate Retail had a tax sharing payable to LMC and Liberty Broadband in the amount of approximately $13 million and $18 million as of June 30, 2023 and December 31, 2022, respectively, included in other liabilities in the condensed consolidated balance sheets. Zulily, LLC (“Zulily”) was a wholly owned subsidiary of Qurate Retail until its divestiture on May 24, 2023. Qurate Retail recognized a loss on the divestiture of $64 million in the second quarter of 2023. Zulily is included in Corporate and other through May 23, 2023 and is not presented as a discontinued operation as the disposition did not represent a strategic shift that had a major effect on Qurate Retail’s operations and financial results. Included in revenue in the accompanying condensed consolidated statements of operations is $109 million and $220 million for the three months ended June 30, 2023 and 2022, respectively, and $301 million and $452 million for the six months ended June 30, 2023 and 2022, respectively, related to Zulily. Included in net earnings (loss) in the accompanying condensed consolidated statement of operations are losses of $9 million and $40 million for the three months ended June 30, 2023 and 2022, respectively, and losses of $ 44 million and $70 million for the six months ended June 30, 2023 and 2022, respectively, related to Zulily. Included in total assets in the accompanying condensed consolidated balance sheets as of December 31, 2022 is $257 million related to Zulily.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
Stock-Based Compensation	Jun. 30, 2023
Stock-Based Compensation
Stock-Based Compensation	(2) Stock-Based Compensation The Company has granted to certain of its directors, employees and employees of its subsidiaries, restricted stock (“RSAs”), restricted stock units (“RSUs”) and options to purchase shares of the Company’s common stock (collectively, "Awards"). The Company measures the cost of employee services received in exchange for an equity classified Award (such as stock options and restricted stock) based on the grant-date fair value (“GDFV”) of the Award, and recognizes that cost over the period during which the employee is required to provide service (usually the vesting period of the Award). The Company measures the cost of employee services received in exchange for a liability classified Award based on the current fair value of the Award, and remeasures the fair value of the Award at each reporting date. Included in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations are $14 million and $16 million of stock-based compensation during the three months ended June 30, 2023 and 2022, respectively, and $30 million and $31 million of stock-based compensation during the six months ended June 30, 2023 and 2022, respectively. Qurate Retail—RSUs The following table presents the number and weighted average GDFV of RSUs granted by the Company during the six months ended June 30, 2023: Six months ended June 30, 2023 RSUs Granted (000's) Weighted Average GDFV Series A Qurate Retail common stock, subsidiary employees (1) 1,980 $ 0.91 Series A Qurate Retail common stock, Qurate Retail employees and directors (2) 679 $ 1.40 Series A Qurate Retail common stock, Qurate Retail President and CEO (3) 1,869 $ 1.51 Series B Qurate Retail common stock, Qurate Retail Chairman of the Board (4) 353 $ 5.51 (1) Grant vests equally over three years . (2) Grants mainly vest one year from the month of grant, subject to the satisfaction of certain performance objectives. (3) Grant vests one year from the month of grant, subject to the satisfaction of certain performance objectives. Grant was made in connection with the employment agreement of our President and Chief Executive Officer. (4) Grant vests one year from the month of grant, subject to the satisfaction of certain performance objectives. Grant was made in connection with our Chairman’s employment agreement. Also during the six months ended June 30, 2023, Qurate Retail granted 20.4 million performance-based, cash-settled RSUs of Series A Qurate Retail common stock to subsidiary employees. These RSUs vest equally over three years, subject to the satisfaction of certain performance objectives. The liability and compensation expense related to such awards is adjusted at the end of each reporting period based on the closing market price of Series A Qurate Retail common stock on the last trading day of the quarter combined with the probability of satisfying the performance objectives. For awards that are performance-based, performance objectives, which are subjective, are considered in determining the timing and amount of compensation expense recognized. When the satisfaction of the performance objectives becomes probable, the Company records compensation expense. The probability of satisfying the performance objectives is assessed at the end of each reporting period. Pursuant to the terms of the Stock Exchange Agreement, dated as of June 3, 2021, by and between Mr. Maffei and the Company, on March 25, 2022, Mr. Maffei transferred to the Company an aggregate of 229,022 shares of Series A common stock of Qurate Retail (“QRTEA”) received by Mr. Maffei upon vesting of the performance-based restricted stock unit award granted to Mr. Maffei on March 10, 2021 and in exchange, the Company issued to Mr. Maffei an equivalent number of shares of Series B common stock of Qurate Retail (“QRTEB”). Each share of QRTEB stock is convertible, at the option of the holder, into one share of QRTEA. Qurate Retail—Outstanding Awards The following tables present the number and weighted average exercise price ("WAEP") of the options to purchase Qurate Retail common stock granted to certain officers, employees and directors of the Company, as well as the weighted average remaining life and aggregate intrinsic value of the options. Weighted Aggregate average intrinsic Series A remaining value (000's) WAEP life (millions) Options outstanding at January 1, 2023 32,914 $ 8.78 Granted — $ — Exercised (14) $ 2.17 Forfeited/Cancelled (7,641) $ 11.96 Options outstanding at June 30, 2023 25,259 $ 7.82 3.0 years $ — Options exercisable at June 30, 2023 15,510 $ 9.24 2.3 years $ — Weighted Aggregate average intrinsic Series B remaining value (000's) WAEP life (millions) Options outstanding at January 1, 2023 2,221 $ 12.25 Granted — $ — Exercised — $ — Forfeited/Cancelled (1,498) $ 12.20 Options outstanding at June 30, 2023 723 $ 12.35 1.4 years $ — Options exercisable at June 30, 2023 723 $ 12.35 1.4 years $ — The following table presents the number and weighted average GDFV of RSUs granted to certain officers, employees and directors of the Company. Weighted Weighted Series A Average Series B Average (000's) GDFV (000's) GDFV RSUs outstanding at January 1, 2023 23,166 $ 5.09 327 $ 4.95 Granted 4,528 $ 1.23 353 $ 5.51 Vested (5,698) $ 6.35 (327) $ 4.95 Forfeited/Cancelled (5,288) $ 5.27 — $ — RSUs outstanding at June 30, 2023 16,708 $ 3.56 353 $ 5.51 As of June 30, 2023, Qurate Retail also had 1.1 million QRTEB RSAs and 28 thousand Qurate Retail 8.0% Series A Cumulative Redeemable Preferred Stock RSAs and RSUs outstanding. The QRTEB unvested RSAs had a GDFV of $13.65 per share, and 26 thousand of the Qurate Retail 8.0% Series A Cumulative Redeemable Preferred Stock unvested RSUs had an incremental cost of $50.94 per share. As of June 30, 2023, the total unrecognized compensation cost related to unvested Awards was approximately $71 million. Such amount will be recognized in the Company's consolidated statements of operations over a weighted average period of approximately 1.8 years. As of June 30, 2023, Qurate Retail reserved for issuance upon exercise of outstanding stock options approximately 25.3 million shares of QRTEA and 0.7 million shares of QRTEB common stock.

Earnings (Loss) Per Common Shar

Earnings (Loss) Per Common Share	6 Months Ended
Earnings (Loss) Per Common Share	Jun. 30, 2023
Earnings (Loss) Per Common Share
Earnings (Loss) Per Common Share	(3) Earnings (Loss) Per Common Share Basic earnings (loss) per common share ("EPS") is computed by dividing net earnings (loss) by the weighted average number of common shares outstanding ("WASO") for the period. Diluted EPS presents the dilutive effect on a per share basis of potential common shares as if they had been converted at the beginning of the periods presented. Potentially dilutive shares are excluded from the computation of diluted EPS during periods in which losses are reported since the result would be antidilutive. Excluded from diluted EPS for the three months ended June 30, 2023 and 2022 are 26 million and 35 million potential common shares, respectively, because their inclusion would have been antidilutive. Excluded from diluted EPS for the six months ended June 30, 2023 and 2022 are 28 million and 30 million potential common shares, respectively, because their inclusion would have been antidilutive. Qurate Retail Common Stock Three months ended Six months ended June 30, June 30, 2023 2022 2023 2022 number of shares in millions Basic WASO 388 381 385 380 Potentially dilutive shares 1 1 1 3 Diluted WASO 389 382 386 383

Assets and Liabilities Measured

Assets and Liabilities Measured at Fair Value	6 Months Ended
Assets and Liabilities Measured at Fair Value	Jun. 30, 2023
Assets and Liabilities Measured at Fair Value
Assets and Liabilities Measured at Fair Value	(4) Assets and Liabilities Measured at Fair Value For assets and liabilities required to be reported at fair value, 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 are inputs, other than quoted market prices included within Level 1, that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. The Company's assets and liabilities measured at fair value are as follows: Fair Value Measurements at Fair Value Measurements at June 30, 2023 December 31, 2022 Quoted Quoted prices prices in active Significant in active Significant markets for other markets for other identical observable identical observable assets inputs assets inputs Description Total (Level 1) (Level 2) Total (Level 1) (Level 2) amounts in millions Cash equivalents $ 944 944 — 938 938 — Indemnification asset $ 10 — 10 50 — 50 Debt $ 287 — 287 614 — 614 The majority of the Company's Level 2 financial assets and liabilities are primarily debt instruments and derivative instruments with quoted market prices that are not considered to be traded on "active markets," as defined in GAAP. The fair values for such instruments are derived from a typical model using observable market data as the significant inputs. The indemnification asset relates to Liberty Broadband’s agreement to indemnify Liberty Interactive LLC (“LI LLC”) and pertains to the ability of holders of LI LLC’s 1.75% exchangeable debentures due 2046 (the “ 1.75% Exchangeable Debentures”) to exercise their exchange right according to the terms of the debentures on or before October 5, 2023. Such amount will equal the difference between the exchange value and par value of the 1.75% Exchangeable Debentures at the time the exchange occurs. The indemnification asset recorded in the condensed consolidated balance sheets as of June 30, 2023 represents the fair value of the estimated exchange feature included in the 1.75% Exchangeable Debentures primarily based on market observable inputs (Level 2). As of June 30, 2023, a holder of the 1.75% Exchangeable Debentures has the ability to put their debentures on October 5, 2023, and accordingly, such indemnification asset is included as a current asset in our condensed consolidated balance sheet as of June 30, 2023. During the six months ended June 30, 2023, indemnification payments of $25 million were made to Qurate Retail by Liberty Broadband in connection with exchanges of $251 million of the 1.75% Exchangeable Debentures that settled in the period. Realized and Unrealized Gains (Losses) on Financial Instruments Realized and unrealized gains (losses) on financial instruments are comprised of changes in the fair value of the following: Three months ended Six months ended June 30, June 30, 2023 2022 2023 2022 amounts in millions Equity securities (14) 5 (17) (5) Exchangeable senior debentures (1) 66 (47) 190 Indemnification asset (18) (64) (15) (149) Other financial instruments — — (1) 1 $ (33) 7 (80) 37 The Company has elected to account for its exchangeable debt using the fair value option. Changes in the fair value of the exchangeable senior debentures recognized in the condensed consolidated statement of operations are primarily due to market factors primarily driven by changes in the fair value of the underlying shares into which the debt is exchangeable. The Company isolates the portion of the unrealized gain (loss) attributable to the change in the instrument specific credit risk and recognizes such amount in other comprehensive earnings (loss). The change in the fair value of the exchangeable senior debentures attributable to changes in the instrument specific credit risk was a loss of $62 million and a gain of $190 million for the three months ended June 30, 2023 and 2022, respectively, and a gain of $106 million and a gain of $224 million for the six months ended June 30, 2023 and 2022, respectively. During the three and six months ended June 30, 2023, the Company recognized $19 million and $44 million, respectively, of previously unrecognized gains related to the retirement of a portion of the 1.75% Exchangeable Debentures, which was recognized through gain (loss) on extinguishment of debt on the condensed consolidated statement of operations. The cumulative change was a gain of $552 million as of June 30, 2023, net of the recognition of previously unrecognized gains and losses.

Intangible Assets

Intangible Assets	6 Months Ended
Intangible Assets	Jun. 30, 2023
Intangible Assets
Intangible Assets	(5) Intangible Assets Goodwill Changes in the carrying amount of goodwill are as follows: Corporate and QxH QVC Int'l CBI Other Total amounts in millions Balance at January 1, 2023 $ 2,693 778 12 18 3,501 Foreign currency translation adjustments — (1) — — (1) Disposition (1) — — — (18) (18) Balance at June 30, 2023 $ 2,693 777 12 — 3,482 (1) Zulily goodwill was eliminated as a result of the divestiture of Zulily on May 24, 2023 (see note 1). Intangible Assets Subject to Amortization Amortization expense for intangible assets with finite useful lives was $78 million for both of the three months ended June 30, 2023 and 2022, and $152 million and $160 million for the six months ended June 30, 2023 and 2022, respectively. Based on its amortizable intangible assets as of June 30, 2023, Qurate Retail expects that amortization expense will be as follows for the next five years (amounts in millions): Remainder of 2023 $ 164 2024 $ 255 2025 $ 122 2026 $ 69 2027 $ 3 The Company’s share price has been challenged as a result of current business trends and global economic conditions. The Company will continue to monitor QVC’s 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
Long-Term Debt
Long-Term Debt	(6) Long-Term Debt Debt is summarized as follows: Outstanding principal at Carrying value June 30, 2023 June 30, 2023 December 31, 2022 amounts in millions Corporate level debentures 8.5% Senior Debentures due 2029 $ 287 286 286 8.25% Senior Debentures due 2030 505 503 503 4% Exchangeable Senior Debentures due 2029 353 94 134 3.75% Exchangeable Senior Debentures due 2030 429 110 157 1.75% Exchangeable Senior Debentures due 2046 79 83 323 Subsidiary level notes and facilities QVC 4.375% Senior Secured Notes due 2023 — — 214 QVC 4.85% Senior Secured Notes due 2024 423 423 600 QVC 4.45% Senior Secured Notes due 2025 586 585 599 QVC 4.75% Senior Secured Notes due 2027 575 575 575 QVC 4.375% Senior Secured Notes due 2028 500 500 500 QVC 5.45% Senior Secured Notes due 2034 400 399 399 QVC 5.95% Senior Secured Notes due 2043 300 300 300 QVC 6.375% Senior Secured Notes due 2067 225 225 225 QVC 6.25% Senior Secured Notes due 2068 500 500 500 QVC Senior Secured Credit Facility 1,430 1,430 1,075 Deferred loan costs — (35) (37) Total consolidated Qurate Retail debt $ 6,592 5,978 6,353 Less current classification (710) (828) Total long-term debt $ 5,268 5,525 QVC Senior Secured Notes In June 2022, QVC completed its purchase of $536 million of the outstanding 4.375% Senior Secured Notes due 2023 (the "2023 Notes") pursuant to a cash tender offer to purchase any and all of its outstanding 2023 Notes (the “Tender Offer”). The remaining outstanding 2023 Notes 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, QVC 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. The senior secured notes permit QVC to make unlimited dividends or other restricted payments so long as QVC is not in default under the indentures governing the senior secured notes and QVC’s consolidated leverage ratio is not greater than 3.5 to 1.0 (the “senior secured notes leverage basket”). 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 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 parent entities of QVC under an intercompany tax sharing agreement in respect of certain tax obligations of QVC and its subsidiaries. QVC Senior Secured Credit Facility On October 27, 2021, QVC amended and restated its latest credit agreement (as amended and restated, the “Fifth Amended and Restated Credit Agreement”) and refinanced QVC’s existing bank credit facility by entering into the Fifth Amended and Restated Credit Agreement with Zulily, CBI, and QVC Global Corporate Holdings, LLC (“QVC Global”), each a direct or indirect wholly owned subsidiary of Qurate Retail, as borrowers (QVC, Zulily, CBI and QVC Global, collectively, the “Borrowers”), JPMorgan Chase Bank, N.A., as administrative agent, and the other parties named therein. In connection with the Zulily divestiture (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, which was approximately $80 million. The Fifth Amended and Restated Credit Agreement is a multi-currency facility providing for a $3.25 billion revolving credit facility (the “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 Credit Facility may be borrowed by any Borrower, with each Borrower jointly and severally liable for the outstanding borrowings. Borrowings under the Fifth Amended and Restated Credit Agreement bear interest at either the alternate base rate (such rate, the “ABR Rate”) or a LIBOR-based rate (or the applicable non-U.S. Dollar equivalent rate) (such rate, the “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 CBI, QVC Global or any other borrower under the Credit Facility (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 on the Credit Facility may be reborrowed. 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 SOFR-based rate loans. Borrowings that are Secured Overnight Financing Rate (“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. The loans under the Credit Facility are scheduled to mature on October 27, 2026. Payment of the loans may be accelerated following certain customary events of default. 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. Borrowings under the Fifth Amended and Restated Credit Agreement may be used to repay outstanding indebtedness, pay certain fees and expenses, finance working capital needs and general purposes of the Borrowers and their respective subsidiaries and make certain restricted payments and loans to the Borrowers’ respective parents and affiliates. Availability under the Fifth Amended and Restated Credit Agreement at June 30, 2023 was $1,764 million. The interest rate on the Credit Facility was 6.6% and 3.0% at June 30, 2023 and 2022, respectively. Exchangeable Senior Debentures The Company has elected to account for its exchangeable senior debentures using the fair value option. Accordingly, changes in the fair value of these instruments are recognized as unrealized gains (losses) in the statements of operations. See note 4 for information related to unrealized gains (losses) on debt measured at fair value. As of June 30, 2023 the Company’s 3.75% and 4.0% Exchangeable Debentures have been classified as current because the Company does not own shares to exchange the debentures. The 1.75% Exchangeable Debentures are classified as current as the Company does not own the shares to exchange the debentures and the holders have the ability to put their debentures on October 5, 2023. The Company reviews the terms of the debentures on a quarterly basis to determine whether a triggering event has occurred to require current classification of the exchangeables upon a call event. During the six months ended June 30, 2023, a portion of the 1.75% Exchangeable Debentures were exchanged for total principal amount of $251 million. Debt Covenants Qurate Retail and its subsidiaries are in compliance with all debt covenants at June 30, 2023. Fair Value of Debt Qurate Retail estimates the fair value of its debt based on the quoted market prices for the same or similar issues or on the current rate offered to Qurate Retail for debt of the same remaining maturities (Level 2). The QVC 6.375% Senior Secured Notes due 2067 (“2067 Notes”) and the QVC 6.25% Senior Secured Notes Due 2068 (“2068 Notes”) are traded on the New York Stock Exchange, and the Company considers them to be actively traded. As such, the 2067 Notes and 2068 Notes are valued based on their trading price (Level 1). The fair value of Qurate Retail's publicly traded debt securities that are not reported at fair value in the accompanying condensed consolidated balance sheet at June 30, 2023 are as follows (amounts in millions): Senior debentures $ 279 QVC senior secured notes $ 2,235 Due to the variable rate nature, Qurate Retail believes that the carrying amount of its other debt, not discussed above, approximated fair value at June 30, 2023.

Preferred Stock

Preferred Stock	6 Months Ended
Preferred Stock	Jun. 30, 2023
Preferred Stock.
Preferred Stock	(7) Preferred Stock On September 14, 2020, Qurate Retail issued its 8.0% Series A Cumulative Redeemable Preferred Stock, par value $0.01 per share (the “Preferred Stock”). There were 13,500,000 shares of Preferred Stock authorized and 12,705,728 shares of Preferred Stock issued and outstanding Priority. The Preferred Stock ranks senior to the shares of common stock of Qurate Retail, with respect to dividend rights, rights of redemption and rights on the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of Qurate Retail’s affairs. Shares of Preferred Stock are not convertible into shares of common stock of Qurate Retail. Dividends. The ability of Qurate Retail to declare or pay any dividend on, or purchase, redeem, or otherwise acquire, any of its common stock or any other stock ranking on parity with the Preferred Stock will be subject to restrictions if Qurate Retail does not pay all dividends and all redemption payments on the Preferred Stock, subject to certain exceptions as set forth in the Certificate of Designations. Distributions upon Liquidation, Dissolution or Winding Up. Upon Qurate Retail’s liquidation, winding-up or dissolution, each holder of shares of the Preferred Stock will be entitled to receive, before any distribution is made to the holders of Qurate Retail common stock, an amount equal to the liquidation price plus all unpaid dividends (whether or not declared) accrued from the immediately preceding dividend payment date, subject to the prior payment of liabilities owed to Qurate Retail’s creditors and the preferential amounts to which any stock senior to the Preferred Stock is entitled. The Preferred Stock has a liquidation price equal to the sum of (i) $100 , plus (ii) all accrued and unpaid dividends (whether or not declared) that have been added to the liquidation price. Mandatory and Optional Redemption. The Preferred Stock is subject to mandatory redemption on March 15, 2031 at the liquidation price plus all unpaid dividends (whether or not declared) accrued from the most recent dividend payment date . On or after the fifth anniversary of September 14, 2020 (the “Original Issue Date”), Qurate Retail may redeem all or a portion of the outstanding shares of Preferred Stock, at the liquidation price plus all unpaid dividends (whether or not declared) accrued from the most recent dividend payment date plus, if the redemption is (x) on or after the fifth anniversary of the Original Issue Date but prior to its sixth anniversary, 4.00% of the liquidation price, (y) on or after the sixth anniversary of the Original Issue Date but prior to its seventh anniversary, 2.00% of the liquidation price and (z) on or after the seventh anniversary of the Original Issue Date, zero . Both mandatory and optional redemptions must be paid in cash. Voting Power. Holders of the Preferred Stock will not have any voting rights or powers, except as specified in the Certificate of Designations or as required by Delaware law. Preferred Stock Directors . So long as the aggregate liquidation price of the outstanding shares of Preferred Stock exceeds 25% of the aggregate liquidation price of the shares of Preferred Stock issued on the Original Issue Date, holders of Preferred Stock will have certain director election rights as described in the Certificate of Designations whenever dividends on shares of Preferred Stock have not been declared and paid for two consecutive dividend periods and whenever Qurate Retail fails to pay the applicable redemption price in full with respect to any redemption of the Preferred Stock or fails to make a payment with respect to the Preferred Stock in connection with a liquidation or Extraordinary Transactions (as defined in the Certificate of Designations). Recognition . As the Preferred Stock is subject to unconditional mandatory redemption in cash and was issued in the form of a share, the Company concluded the Preferred Stock was a mandatorily redeemable financial instrument and should be classified as a liability in the condensed consolidated balance sheets. The Preferred Stock was initially recorded at its fair value, which was determined to be the liquidation preference of $100 per share. Given the liability classification of the Preferred Stock, all dividends accrued will be classified as interest expense in the condensed consolidated statements of operations. The fair value of the Preferred Stock (level 1) was $477 million as of June 30, 2023.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2023
Commitments and Contingencies.
Commitments and Contingencies	(8) Commitments and Contingencies Litigation The 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 Qurate Retail 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 amounts, if any, which may be required to satisfy such contingencies will not be material in relation to the accompanying condensed consolidated financial statements. 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 QVC’s second-largest fulfillment center for the operating segment comprised of QVC U.S. and HSN (“QxH”) and QVC’s primary returns center for hard goods. QVC maintains property, general liability and business interruption insurance coverage. Based on provisions of QVC's insurance policies, the Company recorded estimated insurance recoveries for fire related costs for which recovery is deemed probable. As of December 31, 2022 QVC had an insurance receivable of $40 million recorded in trade and other receivables, net of allowance for credit losses in the condensed consolidated balance sheet. In June 2023, QVC 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, QVC 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, QVC 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 restructuring and 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-downs of inventory, these write-downs have been excluded from Adjusted OIBDA (as defined in note 9). Project Athens 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. Zulily Restructuring In the first quarter of 2022, Zulily began to execute a series of transformation initiatives, beginning with the announcement of the closure of its fulfillment center in Bethlehem, Pennsylvania, and reduction in corporate workforce. These initiatives were consistent with Zulily’s strategy to operate more efficiently as it implemented its turnaround plan. Zulily recorded $1 million and $3 million of restructuring charges during the three months ended June 30, 2023 and 2022, respectively, and $5 million and $3 million of restructuring charges during the six months ended June 30, 2023 and 2022, respectively, related to its reduction in corporate workforce. $5 million of restructuring charges during the six months ended June 30, 2022, principally related to its regional office space strategy and expenses associated with the Pennsylvania facility closure. See note 1 for a discussion regarding the Company’s divestiture of Zulily on May 24, 2023. Gains on sale leaseback transactions In November 2022, QVC entered into agreements to sell two properties located in Germany and the United Kingdom (“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 recorded a gain of $ 69 million and $44 million 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. QVC accounted for the leases as operating at the close of the sale leaseback transaction, 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. 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 cash flow hedges under GAAP. Changes in the fair value of the forwards are reflected in realized and unrealized gains (losses) on financial instruments, net in the condensed consolidated statements of operations. The forward contracts were in a net liability position of $10 million as of December 31, 2022, which was included in other current liabilities in the condensed consolidated balance sheet. The contracts expired in January 2023 which resulted in a net cash settlement of $12 million. 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 other assets, at cost, net of accumulated amortization in the consolidated balance sheet, as the proceeds from the sale were used to repay a portion of the Credit Facility borrowings which were classified as noncurrent as of December 31, 2022. Qurate Retail 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.

Information About Qurate Retail

Information About Qurate Retail's Operating Segments	6 Months Ended
Information About Qurate Retail's Operating Segments	Jun. 30, 2023
Information About Qurate Retail's Operating Segments
Information About Qurate Retail's Operating Segments	(9) Information About Qurate Retail's Operating Segments Qurate Retail, through its ownership interests in subsidiaries and other companies, is primarily engaged in the video and online commerce industries. Qurate Retail identifies its reportable segments as (A) those operating segments that represent 10% or more of its consolidated annual revenue, annual Adjusted OIBDA (as defined below) or total assets and (B) those equity method affiliates whose share of earnings represent 10% or more of Qurate Retail's annual pre-tax earnings. The Qurate Retail chief operating decision maker primarily evaluates performance and makes decisions about allocating resources to its operating segments based on financial measures such as revenue and Adjusted OIBDA. In addition, Qurate Retail reviews nonfinancial measures such as unique website visitors, number of units shipped, conversion rates and active customers, as appropriate. For the six months ended June 30, 2023, Qurate Retail has identified the following operating segments as its reportable segments: ● QxH – QVC U.S. and HSN market and sell a wide variety of consumer products in the United States, primarily by means of their televised shopping programs and via the Internet through their websites and mobile applications. ● QVC International – QVC International markets and sells a wide variety of consumer products in several foreign countries, primarily by means of its televised shopping programs and via the Internet through its international websites and mobile applications. ● CBI – CBI consists of a portfolio of aspirational home and apparel brands in the U.S. that sell merchandise through brick-and-mortar retail locations as well as via the Internet through their websites. Qurate Retail's operating segments are strategic business units that offer different products and services. They are managed separately because each segment requires different technologies, distribution channels and marketing strategies. The accounting policies of the segments are the same as those described in the Company's Summary of Significant Accounting Policies in the 2022 10-K. Performance Measures Disaggregated revenue by segment and product category consisted of the following: Three months ended June 30, 2023 QxH QVC Int'l CBI Corp and other Total in millions Home $ 602 244 275 26 1,147 Apparel 340 111 41 43 535 Beauty 264 143 — 5 412 Accessories 223 56 — 28 307 Electronics 82 15 — — 97 Jewelry 65 35 — 3 103 Other revenue 42 2 — 4 48 Total Revenue $ 1,618 606 316 109 2,649 Six months ended June 30, 2023 QxH QVC Int'l CBI Corp and other Total in millions Home $ 1,237 481 489 76 2,283 Apparel 635 224 86 113 1,058 Beauty 510 276 — 14 800 Accessories 415 107 — 78 600 Electronics 192 32 — 2 226 Jewelry 142 74 — 11 227 Other revenue 88 4 — 7 99 Total Revenue $ 3,219 1,198 575 301 5,293 Three months ended June 30, 2022 QxH QVC Int'l CBI Corp and other Total in millions Home $ 680 248 296 53 1,277 Apparel 356 117 45 92 610 Beauty 253 145 — 10 408 Accessories 241 58 — 49 348 Electronics 112 25 — 1 138 Jewelry 71 42 — 8 121 Other revenue 41 3 — 7 51 Total Revenue $ 1,754 638 341 220 2,953 Six months ended June 30, 2022 QxH QVC Int'l CBI Corp and other Total in millions Home $ 1,329 521 542 114 2,506 Apparel 652 234 96 186 1,168 Beauty 514 290 — 21 825 Accessories 443 113 — 98 654 Electronics 259 51 — 3 313 Jewelry 158 94 — 17 269 Other revenue 83 5 — 13 101 Total Revenue $ 3,438 1,308 638 452 5,836 Adjusted OIBDA is summarized as follows: Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 amounts in millions QxH $ 185 232 324 457 QVC International 77 95 149 199 CBI 25 44 29 75 Corporate and other (17) (24) (53) (49) Consolidated Qurate Retail $ 270 347 449 682 Other Information June 30, 2023 Total assets Capital expenditures amounts in millions QxH $ 8,473 61 QVC International 1,884 18 CBI 542 3 Corporate and other 900 23 Consolidated Qurate Retail $ 11,799 105 The following table provides a reconciliation of Adjusted OIBDA to Operating income (loss) and Earnings (loss) before income taxes: Three months ended Six months ended June 30, June 30, 2023 2022 2023 2022 amounts in millions Adjusted OIBDA $ 270 347 449 682 Stock-based compensation (14) (16) (30) (31) Depreciation and amortization (104) (134) (204) (264) Restructuring and fire related costs, net of recoveries (including Rocky Mount inventory losses, see note 8) 208 (22) 208 (106) Gains on sale of intangible asset and sale leaseback transactions 6 243 119 243 Operating income (loss) $ 366 418 542 524 Interest expense (123) (119) (217) (236) Realized and unrealized gains (losses) on financial instruments, net (33) 7 (80) 37 Loss on disposition of Zulily, net (64) — (64) — Gain (loss) on extinguishment of debt 29 (6) 44 (6) Other, net 10 41 25 93 Earnings (loss) before income taxes $ 185 341 250 412

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
Stock-Based Compensation (Tables)	Jun. 30, 2023
Schedule of number and weighted average GDFV of option granted	Six months ended June 30, 2023 RSUs Granted (000's) Weighted Average GDFV Series A Qurate Retail common stock, subsidiary employees (1) 1,980 $ 0.91 Series A Qurate Retail common stock, Qurate Retail employees and directors (2) 679 $ 1.40 Series A Qurate Retail common stock, Qurate Retail President and CEO (3) 1,869 $ 1.51 Series B Qurate Retail common stock, Qurate Retail Chairman of the Board (4) 353 $ 5.51 (1) Grant vests equally over three years . (2) Grants mainly vest one year from the month of grant, subject to the satisfaction of certain performance objectives. (3) Grant vests one year from the month of grant, subject to the satisfaction of certain performance objectives. Grant was made in connection with the employment agreement of our President and Chief Executive Officer. (4) Grant vests one year from the month of grant, subject to the satisfaction of certain performance objectives. Grant was made in connection with our Chairman’s employment agreement.
Schedule of number and weighted average GDFV of RSUs granted to certain officers, employees and directors	Weighted Weighted Series A Average Series B Average (000's) GDFV (000's) GDFV RSUs outstanding at January 1, 2023 23,166 $ 5.09 327 $ 4.95 Granted 4,528 $ 1.23 353 $ 5.51 Vested (5,698) $ 6.35 (327) $ 4.95 Forfeited/Cancelled (5,288) $ 5.27 — $ — RSUs outstanding at June 30, 2023 16,708 $ 3.56 353 $ 5.51
Common Class A
Schedule of number, weighted average exercise price ("WAEP"), Weighted average remaining life and aggregate intrinsic value of the awards	Weighted Aggregate average intrinsic Series A remaining value (000's) WAEP life (millions) Options outstanding at January 1, 2023 32,914 $ 8.78 Granted — $ — Exercised (14) $ 2.17 Forfeited/Cancelled (7,641) $ 11.96 Options outstanding at June 30, 2023 25,259 $ 7.82 3.0 years $ — Options exercisable at June 30, 2023 15,510 $ 9.24 2.3 years $ —
Common Class B
Schedule of number, weighted average exercise price ("WAEP"), Weighted average remaining life and aggregate intrinsic value of the awards	Weighted Aggregate average intrinsic Series B remaining value (000's) WAEP life (millions) Options outstanding at January 1, 2023 2,221 $ 12.25 Granted — $ — Exercised — $ — Forfeited/Cancelled (1,498) $ 12.20 Options outstanding at June 30, 2023 723 $ 12.35 1.4 years $ — Options exercisable at June 30, 2023 723 $ 12.35 1.4 years $ —

Earnings (Loss) Per Common Sh_2

Earnings (Loss) Per Common Share (Tables)	6 Months Ended
Earnings (Loss) Per Common Share (Tables)	Jun. 30, 2023
Earnings (Loss) Per Common Share
Schedule of WASO	Qurate Retail Common Stock Three months ended Six months ended June 30, June 30, 2023 2022 2023 2022 number of shares in millions Basic WASO 388 381 385 380 Potentially dilutive shares 1 1 1 3 Diluted WASO 389 382 386 383

Assets and Liabilities Measur_2

Assets and Liabilities Measured at Fair Value (Tables)	6 Months Ended
Assets and Liabilities Measured at Fair Value (Tables)	Jun. 30, 2023
Assets and Liabilities Measured at Fair Value
Schedule of assets and liabilities measured at fair value	Fair Value Measurements at Fair Value Measurements at June 30, 2023 December 31, 2022 Quoted Quoted prices prices in active Significant in active Significant markets for other markets for other identical observable identical observable assets inputs assets inputs Description Total (Level 1) (Level 2) Total (Level 1) (Level 2) amounts in millions Cash equivalents $ 944 944 — 938 938 — Indemnification asset $ 10 — 10 50 — 50 Debt $ 287 — 287 614 — 614
Summary of realized and unrealized gains (losses) on financial instruments	Three months ended Six months ended June 30, June 30, 2023 2022 2023 2022 amounts in millions Equity securities (14) 5 (17) (5) Exchangeable senior debentures (1) 66 (47) 190 Indemnification asset (18) (64) (15) (149) Other financial instruments — — (1) 1 $ (33) 7 (80) 37

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
Intangible Assets (Tables)	Jun. 30, 2023
Intangible Assets
Schedule of changes in the carrying amount of goodwill	Corporate and QxH QVC Int'l CBI Other Total amounts in millions Balance at January 1, 2023 $ 2,693 778 12 18 3,501 Foreign currency translation adjustments — (1) — — (1) Disposition (1) — — — (18) (18) Balance at June 30, 2023 $ 2,693 777 12 — 3,482
Schedule of amortization expense for the next five years	Based on its amortizable intangible assets as of June 30, 2023, Qurate Retail expects that amortization expense will be as follows for the next five years (amounts in millions): Remainder of 2023 $ 164 2024 $ 255 2025 $ 122 2026 $ 69 2027 $ 3

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
Long-Term Debt (Tables)	Jun. 30, 2023
Long-Term Debt
Schedule of debt summarized	Outstanding principal at Carrying value June 30, 2023 June 30, 2023 December 31, 2022 amounts in millions Corporate level debentures 8.5% Senior Debentures due 2029 $ 287 286 286 8.25% Senior Debentures due 2030 505 503 503 4% Exchangeable Senior Debentures due 2029 353 94 134 3.75% Exchangeable Senior Debentures due 2030 429 110 157 1.75% Exchangeable Senior Debentures due 2046 79 83 323 Subsidiary level notes and facilities QVC 4.375% Senior Secured Notes due 2023 — — 214 QVC 4.85% Senior Secured Notes due 2024 423 423 600 QVC 4.45% Senior Secured Notes due 2025 586 585 599 QVC 4.75% Senior Secured Notes due 2027 575 575 575 QVC 4.375% Senior Secured Notes due 2028 500 500 500 QVC 5.45% Senior Secured Notes due 2034 400 399 399 QVC 5.95% Senior Secured Notes due 2043 300 300 300 QVC 6.375% Senior Secured Notes due 2067 225 225 225 QVC 6.25% Senior Secured Notes due 2068 500 500 500 QVC Senior Secured Credit Facility 1,430 1,430 1,075 Deferred loan costs — (35) (37) Total consolidated Qurate Retail debt $ 6,592 5,978 6,353 Less current classification (710) (828) Total long-term debt $ 5,268 5,525
Schedule of fair value of debt securities that are not reported at fair value condensed consolidated balance sheet	The fair value of Qurate Retail's publicly traded debt securities that are not reported at fair value in the accompanying condensed consolidated balance sheet at June 30, 2023 are as follows (amounts in millions): Senior debentures $ 279 QVC senior secured notes $ 2,235

Information About Qurate Reta_2

Information About Qurate Retail's Operating Segments (Tables)	6 Months Ended
	Jun. 30, 2023
Information About Qurate Retail's Operating Segments
Schedule of disaggregation of revenue	Three months ended June 30, 2023 QxH QVC Int'l CBI Corp and other Total in millions Home $ 602 244 275 26 1,147 Apparel 340 111 41 43 535 Beauty 264 143 — 5 412 Accessories 223 56 — 28 307 Electronics 82 15 — — 97 Jewelry 65 35 — 3 103 Other revenue 42 2 — 4 48 Total Revenue $ 1,618 606 316 109 2,649 Six months ended June 30, 2023 QxH QVC Int'l CBI Corp and other Total in millions Home $ 1,237 481 489 76 2,283 Apparel 635 224 86 113 1,058 Beauty 510 276 — 14 800 Accessories 415 107 — 78 600 Electronics 192 32 — 2 226 Jewelry 142 74 — 11 227 Other revenue 88 4 — 7 99 Total Revenue $ 3,219 1,198 575 301 5,293 Three months ended June 30, 2022 QxH QVC Int'l CBI Corp and other Total in millions Home $ 680 248 296 53 1,277 Apparel 356 117 45 92 610 Beauty 253 145 — 10 408 Accessories 241 58 — 49 348 Electronics 112 25 — 1 138 Jewelry 71 42 — 8 121 Other revenue 41 3 — 7 51 Total Revenue $ 1,754 638 341 220 2,953 Six months ended June 30, 2022 QxH QVC Int'l CBI Corp and other Total in millions Home $ 1,329 521 542 114 2,506 Apparel 652 234 96 186 1,168 Beauty 514 290 — 21 825 Accessories 443 113 — 98 654 Electronics 259 51 — 3 313 Jewelry 158 94 — 17 269 Other revenue 83 5 — 13 101 Total Revenue $ 3,438 1,308 638 452 5,836
Performance Measures	Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 amounts in millions QxH $ 185 232 324 457 QVC International 77 95 149 199 CBI 25 44 29 75 Corporate and other (17) (24) (53) (49) Consolidated Qurate Retail $ 270 347 449 682
Other Information By Segment	June 30, 2023 Total assets Capital expenditures amounts in millions QxH $ 8,473 61 QVC International 1,884 18 CBI 542 3 Corporate and other 900 23 Consolidated Qurate Retail $ 11,799 105
Reconciliation Of Segment Adjusted OIBDA To Operating income (loss) and Earnings (Loss) From Continuing Operations Before Income Taxes	Three months ended Six months ended June 30, June 30, 2023 2022 2023 2022 amounts in millions Adjusted OIBDA $ 270 347 449 682 Stock-based compensation (14) (16) (30) (31) Depreciation and amortization (104) (134) (204) (264) Restructuring and fire related costs, net of recoveries (including Rocky Mount inventory losses, see note 8) 208 (22) 208 (106) Gains on sale of intangible asset and sale leaseback transactions 6 243 119 243 Operating income (loss) $ 366 418 542 524 Interest expense (123) (119) (217) (236) Realized and unrealized gains (losses) on financial instruments, net (33) 7 (80) 37 Loss on disposition of Zulily, net (64) — (64) — Gain (loss) on extinguishment of debt 29 (6) 44 (6) Other, net 10 41 25 93 Earnings (loss) before income taxes $ 185 341 250 412

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Basis of Presentation (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Basis
Loss on disposition of Zulily, net	$ (64)		$ (64)
Affiliated Entity \| Liberty Media Corporation and Liberty Broadband Corporation
Basis
Tax sharing payable	13		13		$ 18
Affiliated Entity \| Liberty Media
Basis
Related party transaction, amounts of transaction	2	$ 2	$ 4	$ 5
Affiliated Entity \| Liberty Media \| CEO
Basis
CEO compensation allocation percentage			11%
Zulily \| Disposed of by Sale, Not Discontinued Operations
Basis
Loss on disposition of Zulily, net	(64)
Revenue	109	220	$ 301	452
Net loss	$ (9)	$ (40)	$ (44)	$ (70)
Total Assets					$ 257

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		6 Months Ended
	Jun. 03, 2021	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Stock-based compensation
Stock-based compensation		$ 14	$ 16	$ 30	$ 31
Common Class A \| Restricted Stock Units (RSUs)
Stock-based compensation
Grants in period				4,528,000
Weighted Average GDFV				$ 1.23
Common Class A \| Restricted Stock Units (RSUs) \| Maffei Stock Exchange Agreement
Stock-based compensation
Number of shares transferred	229,022
Share received in exchange	1
Common Class A \| Qurate Retail common stock, subsidiary employees \| Restricted Stock Units (RSUs)
Stock-based compensation
Grants in period				1,980,000
Weighted Average GDFV				$ 0.91
Award vesting period				3 years
Common Class A \| Qurate Retail common stock, subsidiary employees \| Performance Shares
Stock-based compensation
Grants in period				20,400,000
Award vesting period				3 years
Common Class A \| Qurate Retail Employees and Directors \| Restricted Stock Units (RSUs)
Stock-based compensation
Grants in period				679,000
Weighted Average GDFV				$ 1.40
Award vesting period				1 year
Common Class A \| Qurate Retail President and CEO \| Restricted Stock Units (RSUs)
Stock-based compensation
Grants in period				1,869,000
Weighted Average GDFV				$ 1.51
Award vesting period				1 year
Common Class B \| Restricted Stock Units (RSUs)
Stock-based compensation
Grants in period				353,000
Weighted Average GDFV				$ 5.51
Common Class B \| Qurate Retail Chairman Of Board \| Restricted Stock Units (RSUs)
Stock-based compensation
Grants in period				353,000
Weighted Average GDFV				$ 5.51
Award vesting period				1 year

Stock-Based Compensation - Gran

Stock-Based Compensation - Grants (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Common Class A
Number of options
Outstanding at beginning of period \| shares	32,914
Exercised \| shares	(14)
Forfeited/Cancelled \| shares	(7,641)
Outstanding at end of period \| shares	25,259
Exercisable at end of period \| shares	15,510
WAEP
Outstanding at beginning of period \| $ / shares	$ 8.78
Exercised \| $ / shares	2.17
Forfeited/Cancelled \| $ / shares	11.96
Outstanding at end of period \| $ / shares	7.82
Exercisable at end of period \| $ / shares	$ 9.24
Additional disclosures
Weighted average remaining life - options outstanding	3 years
Weighted average remaining life - options exercisable	2 years 3 months 18 days
Common Class B
Number of options
Outstanding at beginning of period \| shares	2,221
Forfeited/Cancelled \| shares	(1,498)
Outstanding at end of period \| shares	723
Exercisable at end of period \| shares	723
WAEP
Outstanding at beginning of period \| $ / shares	$ 12.25
Forfeited/Cancelled \| $ / shares	12.20
Outstanding at end of period \| $ / shares	12.35
Exercisable at end of period \| $ / shares	$ 12.35
Additional disclosures
Weighted average remaining life - options outstanding	1 year 4 months 24 days
Weighted average remaining life - options exercisable	1 year 4 months 24 days

Stock-Based Compensation - GDFV

Stock-Based Compensation - GDFV of RSUs (Details) - Restricted Stock Units (RSUs) shares in Thousands	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Common Class A
Number of shares
RSUs outstanding, beginning balance \| shares	23,166
Granted \| shares	4,528
Vested \| shares	(5,698)
Forfeited/Cancelled \| shares	(5,288)
RSUs outstanding, ending balance \| shares	16,708
Weighted Average GDFV
RSUs outstanding , beginning balance \| $ / shares	$ 5.09
Granted \| $ / shares	1.23
Vested \| $ / shares	6.35
Forfeited/Cancelled \| $ / shares	5.27
RSUs outstanding, ending balance \| $ / shares	$ 3.56
Common Class B
Number of shares
RSUs outstanding, beginning balance \| shares	327
Granted \| shares	353
Vested \| shares	(327)
RSUs outstanding, ending balance \| shares	353
Weighted Average GDFV
RSUs outstanding , beginning balance \| $ / shares	$ 4.95
Granted \| $ / shares	5.51
Vested \| $ / shares	4.95
RSUs outstanding, ending balance \| $ / shares	$ 5.51

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Stock-based compensation
Total unrecognized compensation cost related to unvested Awards	$ 71
Weighted average period of recognition related to unvested equity awards (in years)	1 year 9 months 18 days
Common Class A
Stock-based compensation
Shares reserved for future issuance upon exercise of stock options	25,300
Common Class B
Stock-based compensation
Shares reserved for future issuance upon exercise of stock options	700
8.0% Series A Cumulative Redeemable Preferred Stock
Stock-based compensation
Dividend rate	8%
RSA and RSU \| 8.0% Series A Cumulative Redeemable Preferred Stock
Stock-based compensation
RSUs outstanding	28
Restricted Stock Units (RSUs) \| Common Class A
Stock-based compensation
RSUs outstanding	16,708	23,166
RSUs/RSAs GDFV	$ 3.56	$ 5.09
Restricted Stock Units (RSUs) \| Common Class B
Stock-based compensation
RSUs outstanding	353	327
RSUs/RSAs GDFV	$ 5.51	$ 4.95
Restricted Stock Units (RSUs) \| 8.0% Series A Cumulative Redeemable Preferred Stock
Stock-based compensation
RSUs outstanding	26
Incremental cost	$ 50.94
Restricted Stock \| Common Class B
Stock-based compensation
RSUs outstanding	1,100
RSUs/RSAs GDFV	$ 13.65

Earnings (Loss) Per Common Sh_3

Earnings (Loss) Per Common Share - Earnings Per Share Basic and Diluted (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings (Loss) Per Common Share
Antidilutive securities	26	35	28	30
Basic WASO	388	381	385	380
Potentially dilutive shares	1	1	1	3
Diluted WASO	389	382	386	383

Assets and Liabilities Measur_3

Assets and Liabilities Measured at Fair Value - Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Assets and liabilities measured at fair value
Indemnification payment from liberty broadband	$ 25
Recurring
Assets and liabilities measured at fair value
Cash equivalents	944	$ 938
Indemnification asset	10	50
Debt	287	614
Recurring \| Fair Value, Inputs, Level 1
Assets and liabilities measured at fair value
Cash equivalents	944	938
Recurring \| Significant Other Observable Inputs (Level 2)
Assets and liabilities measured at fair value
Indemnification asset	10	50
Debt	$ 287	$ 614
1.75% Exchangeable Senior Debentures due 2046
Assets and liabilities measured at fair value
Interest rate (as a percent)	1.75%
Indemnification payment from liberty broadband	$ 25
Debt exchanged	$ 251

Assets and Liabilities Measur_4

Assets and Liabilities Measured at Fair Value - Realized and Unrealized Gains (Losses) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Realized and unrealized gains (losses) on financial instruments
Realized and unrealized gains (losses) on financial instruments	$ (33)	$ 7	$ (80)	$ 37
Change in fair value of exchangeable senior debentures realized gain	(62)	190	106	224
Cumulative amount of gain in change in fair value	552		552
Gain (loss) on extinguishment of debt	29	(6)	44	(6)
1.75% Exchangeable Senior Debentures due 2046
Realized and unrealized gains (losses) on financial instruments
Gain (loss) on extinguishment of debt	$ 19		$ 44
Interest rate (as a percent)	1.75%		1.75%
Equity securities
Realized and unrealized gains (losses) on financial instruments
Realized and unrealized gains (losses) on financial instruments	$ (14)	5	$ (17)	(5)
Exchangeable senior debentures
Realized and unrealized gains (losses) on financial instruments
Realized and unrealized gains (losses) on financial instruments	(1)	66	(47)	190
Indemnification asset
Realized and unrealized gains (losses) on financial instruments
Realized and unrealized gains (losses) on financial instruments	$ (18)	$ (64)	(15)	(149)
Other Financial Instruments
Realized and unrealized gains (losses) on financial instruments
Realized and unrealized gains (losses) on financial instruments			$ (1)	$ 1

Intangible Assets - Changes In

Intangible Assets - Changes In The Carrying Amount Of Goodwill (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Changes in the carrying amount of goodwill
Balance, beginning of the year	$ 3,501
Foreign currency translation adjustments	(1)
Disposition	(18)
Balance, end of the year	3,482
Corporate and Other
Changes in the carrying amount of goodwill
Balance, beginning of the year	18
Disposition	(18)
QxH
Changes in the carrying amount of goodwill
Balance, beginning of the year	2,693
Balance, end of the year	2,693
QVC International
Changes in the carrying amount of goodwill
Balance, beginning of the year	778
Foreign currency translation adjustments	(1)
Balance, end of the year	777
CBI
Changes in the carrying amount of goodwill
Balance, beginning of the year	12
Balance, end of the year	$ 12

Intangible Assets - Amortizatio

Intangible Assets - Amortization Expense For The Next Five Fiscal Years (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Intangible Assets
Amortization expense for intangible assets	$ 78	$ 78	$ 152	$ 160
Amortization expense for the next five years
Remainder of 2023	164		164
2024	255		255
2025	122		122
2026	69		69
2027	$ 3		$ 3

Long-Term Debt - Debt Table (De

Long-Term Debt - Debt Table (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Long-term debt
Outstanding principal	$ 6,592
Carrying value	5,978	$ 6,353
Deferred loan costs	(35)	(37)
Total consolidated debt	5,978	6,353
Less debt classified as current	(710)	(828)
Total long-term debt	5,268	5,525
8.5% Senior Debentures Due 2029
Long-term debt
Outstanding principal	287
Carrying value	286	286
Total consolidated debt	$ 286	286
Debt instrument interest rate	8.50%
8.25% Senior Debentures Due 2030
Long-term debt
Outstanding principal	$ 505
Carrying value	503	503
Total consolidated debt	$ 503	503
Debt instrument interest rate	8.25%
4% Exchangeable Senior Debentures Due 2029
Long-term debt
Outstanding principal	$ 353
Carrying value	94	134
Total consolidated debt	$ 94	134
Debt instrument interest rate	4%
3.75% Exchangeable Senior Debentures Due 2030
Long-term debt
Outstanding principal	$ 429
Carrying value	110	157
Total consolidated debt	$ 110	157
Debt instrument interest rate	3.75%
1.75% Exchangeable Senior Debentures due 2046
Long-term debt
Outstanding principal	$ 79
Carrying value	83	323
Total consolidated debt	$ 83	323
Debt instrument interest rate	1.75%
QVC \| QVC 4.375% Senior Secured Notes due 2023
Long-term debt
Carrying value		214
Total consolidated debt		214
Debt instrument interest rate	4.375%		4.375%
QVC \| QVC 4.85% Senior Secured Notes Due 2024
Long-term debt
Outstanding principal	$ 423
Carrying value	423	600
Total consolidated debt	$ 423	600
Debt instrument interest rate	4.85%
QVC \| QVC 4.45% Senior Secured Notes Due 2025
Long-term debt
Outstanding principal	$ 586
Carrying value	585	599
Total consolidated debt	$ 585	599
Debt instrument interest rate	4.45%
QVC \| QVC 4.75% Senior Secured Notes Due 2027
Long-term debt
Outstanding principal	$ 575
Carrying value	575	575
Total consolidated debt	$ 575	575
Debt instrument interest rate	4.75%
QVC \| QVC 4.375% Senior Secured Notes due 2028
Long-term debt
Outstanding principal	$ 500
Carrying value	500	500
Total consolidated debt	$ 500	500
Debt instrument interest rate	4.375%
QVC \| QVC 5.45% Senior Secured Notes Due 2034
Long-term debt
Outstanding principal	$ 400
Carrying value	399	399
Total consolidated debt	$ 399	399
Debt instrument interest rate	5.45%
QVC \| QVC 5.95% Senior Secured Notes due 2043
Long-term debt
Outstanding principal	$ 300
Carrying value	300	300
Total consolidated debt	$ 300	300
Debt instrument interest rate	5.95%
QVC \| QVC 6.375% Senior Secured Notes Due 2067
Long-term debt
Outstanding principal	$ 225
Carrying value	225	225
Total consolidated debt	$ 225	225
Debt instrument interest rate	6.375%
QVC \| QVC 6.25% Senior Secured Notes Due 2068
Long-term debt
Outstanding principal	$ 500
Carrying value	500	500
Total consolidated debt	$ 500	500
Debt instrument interest rate	6.25%
QVC \| QVC Senior Secured Credit Facility
Long-term debt
Outstanding principal	$ 1,430
Carrying value	1,430	1,075
Total consolidated debt	$ 1,430	$ 1,075

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) $ in Millions			1 Months Ended	3 Months Ended		6 Months Ended
Long-Term Debt - Narrative (Details) $ in Millions	Jun. 20, 2023	Oct. 27, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Long-term debt
Repayments of long-term debt						$ 1,320	$ 1,466
Gain (loss) on extinguishment of debt				$ 29	$ (6)	44	$ (6)
Debt, Current				$ 710		$ 710		$ 828
8.5% Senior Debentures Due 2029
Long-term debt
Interest rate (as a percent)				8.50%		8.50%
8.25% Senior Debentures Due 2030
Long-term debt
Interest rate (as a percent)				8.25%		8.25%
4% Exchangeable Senior Debentures Due 2029
Long-term debt
Interest rate (as a percent)				4%		4%
3.75% Exchangeable Senior Debentures Due 2030
Long-term debt
Interest rate (as a percent)				3.75%		3.75%
1.75% Exchangeable Senior Debentures due 2046
Long-term debt
Gain (loss) on extinguishment of debt				$ 19		$ 44
Interest rate (as a percent)				1.75%		1.75%
Debt exchanged						$ 251
Amendment No. 5 Credit Facility \| SOFR \| Minimum
Long-term debt
Debt instrument, basis spread on variable rate	1.25%
Amendment No. 5 Credit Facility \| SOFR \| Maximum
Long-term debt
Debt instrument, basis spread on variable rate	1.625%
QVC
Long-term debt
Gain (loss) on extinguishment of debt				$ 10		$ 10
QVC \| QVC 4.375% Senior Secured Notes due 2023
Long-term debt
Repayments of long-term debt			$ 536
Interest rate (as a percent)			4.375%	4.375%	4.375%	4.375%	4.375%
Leverage ratio						3.5
QVC \| QVC 4.45% Senior Secured Notes Due 2025
Long-term debt
Repayments of long-term debt				$ 15
Interest rate (as a percent)				4.45%		4.45%
QVC \| QVC 4.85% Senior Secured Notes Due 2024
Long-term debt
Repayments of long-term debt				$ 177
Interest rate (as a percent)				4.85%		4.85%
QVC \| QVC 6.375% Senior Secured Notes Due 2067
Long-term debt
Interest rate (as a percent)				6.375%		6.375%
QVC \| QVC 6.25% Senior Secured Notes Due 2068
Long-term debt
Interest rate (as a percent)				6.25%		6.25%
QVC \| Amendment No. 5 Credit Facility
Long-term debt
Maximum borrowing capacity		$ 3,250
Interest rate (as a percent)			3%	6.60%	3%	6.60%	3%
Remaining borrowing capacity				$ 1,764		$ 1,764
QVC \| Amendment No. 5 Credit Facility \| Alternate Base Rate \| Minimum
Long-term debt
Debt instrument, basis spread on variable rate		0.25%
QVC \| Amendment No. 5 Credit Facility \| Alternate Base Rate \| Maximum
Long-term debt
Debt instrument, basis spread on variable rate		0.625%
QVC \| Amendment No. 5 Credit Facility \| LIBOR \| Minimum
Long-term debt
Debt instrument, basis spread on variable rate		1.25%
QVC \| Amendment No. 5 Credit Facility \| LIBOR \| Maximum
Long-term debt
Debt instrument, basis spread on variable rate		1.625%
QVC \| Amendment No. 5 Credit Facility \| Letter of Credit
Long-term debt
Maximum borrowing capacity		$ 450
Percentage of sub-limit		50%
Zulily \| Amendment No. 5 Credit Facility
Long-term debt
Repayments of line of credit						$ 80

Long-Term Debt- Debt Securities

Long-Term Debt- Debt Securities That Are Not Reported At Fair Value (Details) $ in Millions	Jun. 30, 2023 USD ($)
Senior Debentures
Long-term debt
Fair value of debt securities that are not reported at fair value	$ 279
QVC Senior Secured Notes
Long-term debt
Fair value of debt securities that are not reported at fair value	$ 2,235

Preferred Stock (Details)

Preferred Stock (Details) - 8.0% Series A Cumulative Redeemable Preferred Stock $ / shares in Units, $ in Millions		6 Months Ended
	Sep. 14, 2020 $ / shares	Jun. 30, 2023 USD ($) item shares
Preferred Stock
Preferred stock dividend rate, percentage	8%
Preferred stock par value \| $ / shares	$ 0.01
Preferred stock authorized		13,500,000
Preferred shares issued		12,705,728
Preferred shares outstanding		12,705,728
Dividend redemption period	30 days
Liquidation preference per share \| $ / shares	$ 100
Minimum liquidation price excess for certain director election rights		25%
Number of consecutive dividend periods without dividends that will certain director elections rights \| item		2
On or after the fifth anniversary of the Original Issue Date but prior to its sixth anniversary
Preferred Stock
Redemption price	4%
On or after the sixth anniversary of the Original Issue Date but prior to its seventh anniversary
Preferred Stock
Redemption price	2%
On or after the seventh anniversary of the Original Issue Date
Preferred Stock
Redemption price	0%
Level 1
Preferred Stock
Fair value of the Preferred Stock \| $		$ 477

Commitments and Contingencies -

Commitments and Contingencies - Fire at Rocky Mount Fulfillment Center (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	6 Months Ended		12 Months Ended		18 Months Ended
	Feb. 28, 2023	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2022	Jun. 30, 2023
Unusual or Infrequent Item, or Both [Line Items]
Gain on insurance proceeds received in excess of losses			$ 228
Proceeds from sale of fixed assets			200	$ 256
QVC Rocky Mount Fire \| QVC
Unusual or Infrequent Item, or Both [Line Items]
Insurance receivable beginning balance			40
Insurance receivable ending balance					$ 40	$ 40
Gain on sale of assets		$ 2	15
Accumulated fire related costs		434	434		407	407	$ 434
Fire related costs		16	27	$ 135
Accumulated fire related costs not reimbursable		119	119		119	119	119
Insurance proceeds received for inventory loss			280		$ 380		$ 660
Gain on insurance proceeds received in excess of losses		209	213			$ 132
Insurance proceeds received for business interruption losses			210
Loss on inventory			$ 95
Proceeds from sale of fixed assets	$ 15	$ 2

Commitments and Contingencies_2

Commitments and Contingencies - Restructuring (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
QVC \| Workforce reduction
Restructuring Cost and Reserve [Line Items]
Restructuring charges			$ 13
Zulily \| Facility Closing
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 3		$ 5
Zulily \| Workforce reduction
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 1	$ 3	$ 5	$ 3

Commitments and Contingencies_3

Commitments and Contingencies - Gain on Sale Leaseback Transaction (Details) $ in Millions	1 Months Ended		3 Months Ended		6 Months Ended
	Jan. 31, 2023 USD ($) item	Nov. 30, 2022 property	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Oct. 31, 2022 USD ($)
Lessee, Lease, Description [Line Items]
Proceeds from sale of fixed assets					$ 200	$ 256
Sale leaseback gain			$ 6	$ 243	119	243
Operating lease right-of-use assets			585		585		$ 585
Operating lease liabilities			544		544		518
Other assets held for sale							71
Foreign Exchange Forward
Lessee, Lease, Description [Line Items]
Derivative, notional amount								$ 167
Derivative liability							$ 10
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]							Accrued Liabilities, Current
Payment for net cash settlement of derivative	$ 12
QVC
Lessee, Lease, Description [Line Items]
Number of properties sold \| property		2
Initial term of lease (in years)	20 years
Maximum number of consecutive terms eligible for extension \| item	4
Renewal term	5 years
QVC \| New Lease
Lessee, Lease, Description [Line Items]
Proceeds from sale of fixed assets				250
Sale leaseback gain				240
Debt forgiveness				84
Operating lease right-of-use assets				37		37
Operating lease liabilities				$ 31		$ 31
QVC \| German Facility
Lessee, Lease, Description [Line Items]
Proceeds from sale of fixed assets	$ 102
Sale leaseback gain					69
Operating lease right-of-use assets			42		42
Operating lease liabilities			42		42
QVC \| United Kingdom Facility
Lessee, Lease, Description [Line Items]
Proceeds from sale of fixed assets	$ 80
Sale leaseback gain					44
Operating lease right-of-use assets			32		32
Operating lease liabilities			$ 32		$ 32

Information About Qurate Reta_3

Information About Qurate Retail's Operating Segments - Performance Measures (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]
Total revenue, net	$ 2,649	$ 2,953	$ 5,293	$ 5,836
Adjusted OIBDA	270	347	449	682
Operating Segments \| QxH
Segment Reporting Information [Line Items]
Total revenue, net	1,618	1,754	3,219	3,438
Adjusted OIBDA	185	232	324	457
Operating Segments \| QVC International
Segment Reporting Information [Line Items]
Total revenue, net	606	638	1,198	1,308
Adjusted OIBDA	77	95	149	199
Operating Segments \| CBI
Segment Reporting Information [Line Items]
Total revenue, net	316	341	575	638
Adjusted OIBDA	25	44	29	75
Corporate and Other
Segment Reporting Information [Line Items]
Total revenue, net	109	220	301	452
Adjusted OIBDA	(17)	(24)	(53)	(49)
Home
Segment Reporting Information [Line Items]
Total revenue, net	1,147	1,277	2,283	2,506
Home \| Operating Segments \| QxH
Segment Reporting Information [Line Items]
Total revenue, net	602	680	1,237	1,329
Home \| Operating Segments \| QVC International
Segment Reporting Information [Line Items]
Total revenue, net	244	248	481	521
Home \| Operating Segments \| CBI
Segment Reporting Information [Line Items]
Total revenue, net	275	296	489	542
Home \| Corporate and Other
Segment Reporting Information [Line Items]
Total revenue, net	26	53	76	114
Beauty
Segment Reporting Information [Line Items]
Total revenue, net	412	408	800	825
Beauty \| Operating Segments \| QxH
Segment Reporting Information [Line Items]
Total revenue, net	264	253	510	514
Beauty \| Operating Segments \| QVC International
Segment Reporting Information [Line Items]
Total revenue, net	143	145	276	290
Beauty \| Corporate and Other
Segment Reporting Information [Line Items]
Total revenue, net	5	10	14	21
Apparel
Segment Reporting Information [Line Items]
Total revenue, net	535	610	1,058	1,168
Apparel \| Operating Segments \| QxH
Segment Reporting Information [Line Items]
Total revenue, net	340	356	635	652
Apparel \| Operating Segments \| QVC International
Segment Reporting Information [Line Items]
Total revenue, net	111	117	224	234
Apparel \| Operating Segments \| CBI
Segment Reporting Information [Line Items]
Total revenue, net	41	45	86	96
Apparel \| Corporate and Other
Segment Reporting Information [Line Items]
Total revenue, net	43	92	113	186
Accessories
Segment Reporting Information [Line Items]
Total revenue, net	307	348	600	654
Accessories \| Operating Segments \| QxH
Segment Reporting Information [Line Items]
Total revenue, net	223	241	415	443
Accessories \| Operating Segments \| QVC International
Segment Reporting Information [Line Items]
Total revenue, net	56	58	107	113
Accessories \| Corporate and Other
Segment Reporting Information [Line Items]
Total revenue, net	28	49	78	98
Electronics
Segment Reporting Information [Line Items]
Total revenue, net	97	138	226	313
Electronics \| Operating Segments \| QxH
Segment Reporting Information [Line Items]
Total revenue, net	82	112	192	259
Electronics \| Operating Segments \| QVC International
Segment Reporting Information [Line Items]
Total revenue, net	15	25	32	51
Electronics \| Corporate and Other
Segment Reporting Information [Line Items]
Total revenue, net		1	2	3
Jewelry
Segment Reporting Information [Line Items]
Total revenue, net	103	121	227	269
Jewelry \| Operating Segments \| QxH
Segment Reporting Information [Line Items]
Total revenue, net	65	71	142	158
Jewelry \| Operating Segments \| QVC International
Segment Reporting Information [Line Items]
Total revenue, net	35	42	74	94
Jewelry \| Corporate and Other
Segment Reporting Information [Line Items]
Total revenue, net	3	8	11	17
Other revenue
Segment Reporting Information [Line Items]
Total revenue, net	48	51	99	101
Other revenue \| Operating Segments \| QxH
Segment Reporting Information [Line Items]
Total revenue, net	42	41	88	83
Other revenue \| Operating Segments \| QVC International
Segment Reporting Information [Line Items]
Total revenue, net	2	3	4	5
Other revenue \| Corporate and Other
Segment Reporting Information [Line Items]
Total revenue, net	$ 4	$ 7	$ 7	$ 13

Information About Qurate Reta_4

Information About Qurate Retail's Operating Segments - Other Information By Segment (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Information about Qurate Retail's operating segments
Total assets	$ 11,799	$ 12,571
Capital expenditures	105
Operating Segments \| QxH
Information about Qurate Retail's operating segments
Total assets	8,473
Capital expenditures	61
Operating Segments \| QVC International
Information about Qurate Retail's operating segments
Total assets	1,884
Capital expenditures	18
Operating Segments \| CBI
Information about Qurate Retail's operating segments
Total assets	542
Capital expenditures	3
Corporate and Other
Information about Qurate Retail's operating segments
Total assets	900
Capital expenditures	$ 23

Information About Qurate Reta_5

Information About Qurate Retail's Operating Segments - Reconciliation Of Segment Adjusted OIBDA To Earnings (Loss) From Continuing Operations 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
Information About Qurate Retail's Operating Segments
Adjusted OIBDA	$ 270	$ 347	$ 449	$ 682
Stock-based compensation	(14)	(16)	(30)	(31)
Depreciation and amortization	(104)	(134)	(204)	(264)
Restructuring and fire related costs, net of recoveries	208	(22)	208	(106)
Gains on sale leaseback transactions	6	243	119	243
Operating income (loss)	366	418	542	524
Interest expense	(123)	(119)	(217)	(236)
Realized and unrealized gains (losses) on financial instruments, net	(33)	7	(80)	37
Loss on disposition of Zulily, net	64		64
Gain (loss) on extinguishment of debt	29	(6)	44	(6)
Other, net	10	41	25	93
Earnings (loss) before income taxes	$ 185	$ 341	$ 250	$ 412

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 107	$ 203	$ 127	$ 204

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false