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10-Q Filing

QVC GROUP, INC. CIK: 1355096 Q1 2018
Filing Information
Form Type 10-Q
Accession Number 0001558370-18-004617
Period End Date 20180331
Filing Date 20180510
Fiscal Year 2018
Fiscal Period Q1
XBRL Instance qrte-20180331.xml
Balance Sheet 78 line items
Line Item Tag Value Unit Period
Allowance for Doubtful Accounts Receivable, Current AllowanceForDoubtfulAccountsReceivableCurrent $92.00M USD Point-in-time
Allowance for Doubtful Accounts Receivable, Current AllowanceForDoubtfulAccountsReceivableCurrent $95.00M USD Point-in-time
Short-term Debt, Fair Value ShorttermDebtFairValue $978.00M USD Point-in-time
Short-term Debt, Fair Value ShorttermDebtFairValue $1.83B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.05B USD Point-in-time
Long-term Debt, Fair Value LongTermDebtFairValue $868.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $903.00M USD Point-in-time
Long-term Debt, Fair Value LongTermDebtFairValue - USD Point-in-time
Trade and other receivables, net of allowance for doubtful accounts of $95 million and $92 million, respectively ReceivablesNetCurrent $1.27B USD Point-in-time
Trade and other receivables, net of allowance for doubtful accounts of $95 million and $92 million, respectively ReceivablesNetCurrent $1.73B USD Point-in-time
Preferred stock, par or stated value per share PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred stock, par or stated value per share PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 50.00M shares Point-in-time
Inventory, net InventoryNet $1.51B USD Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 50.00M shares Point-in-time
Inventory, net InventoryNet $1.41B USD Point-in-time
Indemnification asset BusinessCombinationIndemnificationAssetsAmountAsOfMeasurementDate $253.00M USD Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Other current assets OtherAssetsCurrent $125.00M USD Point-in-time
Other current assets OtherAssetsCurrent $212.00M USD Point-in-time
Total current assets AssetsCurrent $4.17B USD Point-in-time
Total current assets AssetsCurrent $4.30B USD Point-in-time
Investments in equity securities EquitySecuritiesFvNi $2.36B USD Point-in-time
Investments in equity securities EquitySecuritiesFvNi $611.00M USD Point-in-time
Investments in affiliates, accounted for using the equity method (note 9) EquityMethodInvestments $204.00M USD Point-in-time
Investments in affiliates, accounted for using the equity method (note 9) EquityMethodInvestments $309.00M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.36B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.34B USD Point-in-time
Goodwill Goodwill $7.08B USD Point-in-time
Goodwill Goodwill $7.09B USD Point-in-time
Trademarks IndefiniteLivedTrademarks $3.92B USD Point-in-time
Trademarks IndefiniteLivedTrademarks $3.93B USD Point-in-time
Indefinite Lived Intangible Assets Total IndefiniteLivedIntangibleAssetsTotal $11.01B USD Point-in-time
Indefinite Lived Intangible Assets Total IndefiniteLivedIntangibleAssetsTotal $11.02B USD Point-in-time
Intangible assets subject to amortization, net (note 10) FiniteLivedIntangibleAssetsNet $1.17B USD Point-in-time
Intangible assets subject to amortization, net (note 10) FiniteLivedIntangibleAssetsNet $1.25B USD Point-in-time
Other assets, at cost, net of accumulated amortization OtherAssetsNoncurrent $49.00M USD Point-in-time
Other assets, at cost, net of accumulated amortization OtherAssetsNoncurrent $50.00M USD Point-in-time
Assets of discontinued operations (note 4) DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent $3.63B USD Point-in-time
Total assets Assets $24.12B USD Point-in-time
Total assets Assets $18.71B USD Point-in-time
Accounts payable AccountsPayableCurrent $992.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $1.15B USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $968.00M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $1.12B USD Point-in-time
Current portion of debt, including $1,832 million and $978 million measured at fair value (note 11) DebtCurrent $1.85B USD Point-in-time
Current portion of debt, including $1,832 million and $978 million measured at fair value (note 11) DebtCurrent $996.00M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $169.00M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $127.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.44B USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.94B USD Point-in-time
Long-term debt, including $0 and $868 million measured at fair value (note 11) LongTermDebtNoncurrent $6.39B USD Point-in-time
Long-term debt, including $0 and $868 million measured at fair value (note 11) LongTermDebtNoncurrent $7.55B USD Point-in-time
Deferred Tax Liabilities, Net, Noncurrent DeferredTaxLiabilitiesNoncurrent $2.09B USD Point-in-time
Deferred Tax Liabilities, Net, Noncurrent DeferredTaxLiabilitiesNoncurrent $2.50B USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $242.00M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $332.00M USD Point-in-time
Liabilities of discontinued operations (note 4) DeferredIncomeTaxLiabilitiesDisposalGroup $303.00M USD Point-in-time
Total liabilities Liabilities $14.04B USD Point-in-time
Total liabilities Liabilities $12.75B USD Point-in-time
Preferred stock, $.01 par value. Authorized 50,000,000 shares; no shares issued PreferredStockValue - USD Point-in-time
Preferred stock, $.01 par value. Authorized 50,000,000 shares; no shares issued PreferredStockValue - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $1.04B USD Point-in-time
Accumulated other comprehensive earnings (loss), net of taxes AccumulatedOtherComprehensiveIncomeLossNetOfTax $-133.00M USD Point-in-time
Accumulated other comprehensive earnings (loss), net of taxes AccumulatedOtherComprehensiveIncomeLossNetOfTax $3.00M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $5.85B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $9.07B USD Point-in-time
Total stockholders' equity StockholdersEquity $5.86B USD Point-in-time
Total stockholders' equity StockholdersEquity $9.98B USD Point-in-time
Noncontrolling interests in equity of subsidiaries MinorityInterest $99.00M USD Point-in-time
Noncontrolling interests in equity of subsidiaries MinorityInterest $107.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $10.08B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.97B USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $24.12B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $18.71B USD Point-in-time
Income Statement 39 line items
Line Item Tag Value Unit Period
Total revenue, net Revenues $2.33B USD 1 Quarter
Total revenue, net Revenues $3.23B USD 1 Quarter
Cost of retail sales (exclusive of depreciation shown separately below) CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization $1.50B USD 1 Quarter
Cost of retail sales (exclusive of depreciation shown separately below) CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization $2.09B USD 1 Quarter
Operating expenses OperatingCostsAndExpensesOtherThanDeprecation $228.00M USD 1 Quarter
Operating expenses OperatingCostsAndExpensesOtherThanDeprecation $151.00M USD 1 Quarter
Selling, general and administrative, including stock-based compensation and transaction related costs (note 5) SellingGeneralAndAdministrativeExpense $452.00M USD 1 Quarter
Selling, general and administrative, including stock-based compensation and transaction related costs (note 5) SellingGeneralAndAdministrativeExpense $250.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $163.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $208.00M USD 1 Quarter
Acquisition, restructuring, and advisory fees AcquisitionRestructuringAndAdvisoryFees $12.00M USD 1 Quarter
Total operating costs and expenses CostsAndExpenses $2.94B USD 1 Quarter
Total operating costs and expenses CostsAndExpenses $2.11B USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $213.00M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $294.00M USD 1 Quarter
Interest expense InterestExpense $98.00M USD 1 Quarter
Interest expense InterestExpense $90.00M USD 1 Quarter
Share of earnings (losses) of affiliates, net (note 9) IncomeLossFromEquityMethodInvestments $-27.00M USD 1 Quarter
Share of earnings (losses) of affiliates, net (note 9) IncomeLossFromEquityMethodInvestments $-14.00M USD 1 Quarter
Realized and unrealized gains (losses) on financial instruments GainLossOnInvestments $175.00M USD 1 Quarter
Realized and unrealized gains (losses) on financial instruments GainLossOnInvestments $99.00M USD 1 Quarter
Other, net OtherNonoperatingIncomeExpense $1.00M USD 1 Quarter
Other, net OtherNonoperatingIncomeExpense $4.00M USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $59.00M USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $-9.00M USD 1 Quarter
Earnings (loss) from continuing operations before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $285.00M USD 1 Quarter
Earnings (loss) from continuing operations before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $272.00M USD 1 Quarter
Income tax (expense) benefit IncomeTaxExpenseBenefit $29.00M USD 1 Quarter
Income tax (expense) benefit IncomeTaxExpenseBenefit $84.00M USD 1 Quarter
Earnings (loss) from continuing operations IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $188.00M USD 1 Quarter
Earnings (loss) from continuing operations IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $256.00M USD 1 Quarter
Earnings (loss) from discontinued operations, net of taxes IncomeLossFromDiscontinuedOperationsNetOfTax $331.00M USD 1 Quarter
Earnings (loss) from discontinued operations, net of taxes IncomeLossFromDiscontinuedOperationsNetOfTax $141.00M USD 1 Quarter
Net earnings (loss) ProfitLoss $519.00M USD 1 Quarter
Net earnings (loss) ProfitLoss $397.00M USD 1 Quarter
Less net earnings (losses) attributable to the noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $12.00M USD 1 Quarter
Less net earnings (losses) attributable to the noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $13.00M USD 1 Quarter
Net earnings (loss) attributable to Qurate Retail, Inc. shareholders NetIncomeLoss $384.00M USD 1 Quarter
Net earnings (loss) attributable to Qurate Retail, Inc. shareholders NetIncomeLoss $507.00M USD 1 Quarter
Cash Flow Statement 56 line items
Line Item Tag Value Unit Period
Net earnings (loss) ProfitLoss $519.00M USD 1 Quarter
Net earnings (loss) ProfitLoss $397.00M USD 1 Quarter
(Earnings) loss from discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTax $331.00M USD 1 Quarter
(Earnings) loss from discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTax $141.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $208.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $163.00M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $16.00M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $23.00M USD 1 Quarter
Share of (earnings) of affiliates, net IncomeLossFromEquityMethodInvestments $-14.00M USD 1 Quarter
Share of (earnings) of affiliates, net IncomeLossFromEquityMethodInvestments $-27.00M USD 1 Quarter
Cash receipts from returns on equity investments CashReceiptsFromReturnOnEquityInvestments $7.00M USD 1 Quarter
Realized and unrealized gains (losses) on financial instruments, net GainLossOnInvestments $99.00M USD 1 Quarter
Realized and unrealized gains (losses) on financial instruments, net GainLossOnInvestments $175.00M USD 1 Quarter
Deferred income tax expense (benefit) DeferredIncomeTaxExpenseBenefit $60.00M USD 1 Quarter
Deferred income tax expense (benefit) DeferredIncomeTaxExpenseBenefit $-7.00M USD 1 Quarter
Other, net OtherNoncashIncomeExpense $-3.00M USD 1 Quarter
Other, net OtherNoncashIncomeExpense $-3.00M USD 1 Quarter
Current and other assets IncreaseDecreaseInOperatingAssets $-22.00M USD 1 Quarter
Current and other assets IncreaseDecreaseInOperatingAssets $-254.00M USD 1 Quarter
Payables and other current liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-87.00M USD 1 Quarter
Payables and other current liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-162.00M USD 1 Quarter
Net cash provided (used) by operating activities NetCashProvidedByUsedInOperatingActivities $426.00M USD 1 Quarter
Net cash provided (used) by operating activities NetCashProvidedByUsedInOperatingActivities $288.00M USD 1 Quarter
Investments in and loans to cost and equity investees PaymentsToAcquireInvestments $21.00M USD 1 Quarter
Investments in and loans to cost and equity investees PaymentsToAcquireInvestments $22.00M USD 1 Quarter
Capital expended for property and equipment PaymentsToAcquireProductiveAssets $47.00M USD 1 Quarter
Capital expended for property and equipment PaymentsToAcquireProductiveAssets $30.00M USD 1 Quarter
Other investing activities, net PaymentsForProceedsFromOtherInvestingActivities $20.00M USD 1 Quarter
Other investing activities, net PaymentsForProceedsFromOtherInvestingActivities $1.00M USD 1 Quarter
Net cash used by investing activities NetCashProvidedByUsedInInvestingActivities $-89.00M USD 1 Quarter
Net cash used by investing activities NetCashProvidedByUsedInInvestingActivities $-52.00M USD 1 Quarter
Borrowings of debt ProceedsFromIssuanceOfLongTermDebt $499.00M USD 1 Quarter
Borrowings of debt ProceedsFromIssuanceOfLongTermDebt $2.03B USD 1 Quarter
Repayments of debt RepaymentsOfLongTermDebt $1.35B USD 1 Quarter
Repayments of debt RepaymentsOfLongTermDebt $704.00M USD 1 Quarter
GCI Liberty Split-Off DistributionFromGciLiberty $-475.00M USD 1 Quarter
Repurchases of QVC Group common stock PaymentsForRepurchaseOfCommonStock $217.00M USD 1 Quarter
Repurchases of QVC Group common stock PaymentsForRepurchaseOfCommonStock $152.00M USD 1 Quarter
Withholding taxes on net share settlements of stock-based compensation PaymentsAndExcessBenefitRelatedToTaxWithholdingsForShareBasedCompensation $19.00M USD 1 Quarter
Withholding taxes on net share settlements of stock-based compensation PaymentsAndExcessBenefitRelatedToTaxWithholdingsForShareBasedCompensation $4.00M USD 1 Quarter
Other financing activities, net ProceedsFromPaymentsForOtherFinancingActivities $-26.00M USD 1 Quarter
Other financing activities, net ProceedsFromPaymentsForOtherFinancingActivities $-22.00M USD 1 Quarter
Net cash provided (used) by financing activities NetCashProvidedByUsedInFinancingActivities $-61.00M USD 1 Quarter
Net cash provided (used) by financing activities NetCashProvidedByUsedInFinancingActivities $-387.00M USD 1 Quarter
Effect of foreign currency exchange rates on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $13.00M USD 1 Quarter
Effect of foreign currency exchange rates on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $9.00M USD 1 Quarter
Effect of Exchange Rate on Cash and Cash Equivalents, Total CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-4.00M USD 1 Quarter
Effect of Exchange Rate on Cash and Cash Equivalents, Total CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $151.00M USD 1 Quarter
Cash, cash equivalents, restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $836.00M USD Point-in-time
Cash, cash equivalents, restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.06B USD Point-in-time
Cash, cash equivalents, restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $912.00M USD Point-in-time
Cash, cash equivalents, restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $832.00M USD Point-in-time
Cash, cash equivalents, restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $836.00M USD Point-in-time
Cash, cash equivalents, restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.06B USD Point-in-time
Cash, cash equivalents, restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $912.00M USD Point-in-time
Cash, cash equivalents, restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $832.00M USD Point-in-time
Stockholders Equity 15 line items
Line Item Tag Value Unit Period
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $10.08B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.97B USD Point-in-time
Net earnings (loss) ProfitLoss $519.00M USD 1 Quarter
Net earnings (loss) ProfitLoss $397.00M USD 1 Quarter
Other comprehensive earnings (loss) OtherComprehensiveIncomeLossNetOfTax $67.00M USD 1 Quarter
Other comprehensive earnings (loss) OtherComprehensiveIncomeLossNetOfTax $29.00M USD 1 Quarter
Stock compensation AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition $23.00M USD 1 Quarter
Series A QVC Group stock repurchases StockRepurchasedDuringPeriodValue $217.00M USD 1 Quarter
Distribution to noncontrolling interest MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $23.00M USD 1 Quarter
Option exercises StockIssuedDuringPeriodValueStockOptionsExercised $1.00M USD 1 Quarter
Withholding taxes on net share settlements of SBC AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet $-19.00M USD 1 Quarter
Cumulative effect of accounting change CumulativeEffectOnRetainedEarningsNetOfTax1 $7.00M USD 1 Quarter
GCI Liberty split-off AdjustmentsToAdditionalPaidInCapitalFromDistributionOfGciLiberty $4.35B USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $10.08B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.97B USD Point-in-time
Comprehensive Income 15 line items
Line Item Tag Value Unit Period
Net earnings (loss) ProfitLoss $519.00M USD 1 Quarter
Net earnings (loss) ProfitLoss $397.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $71.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $27.00M USD 1 Quarter
Share of other comprehensive earnings (losses) of equity affiliates ShareOfOtherComprehensiveEarningsLossOfEquityAffiliates $2.00M USD 1 Quarter
Share of other comprehensive earnings (losses) of equity affiliates ShareOfOtherComprehensiveEarningsLossOfEquityAffiliates $1.00M USD 1 Quarter
Comprehensive earnings (loss) attributable to debt credit risk adjustments OtherComprehensiveIncomeLossCreditRiskOnFairValueDebtInstrumentsGainLossNetOfTax $-5.00M USD 1 Quarter
Other comprehensive earnings (loss) OtherComprehensiveIncomeLossNetOfTax $67.00M USD 1 Quarter
Other comprehensive earnings (loss) OtherComprehensiveIncomeLossNetOfTax $29.00M USD 1 Quarter
Comprehensive earnings (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $464.00M USD 1 Quarter
Comprehensive earnings (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $548.00M USD 1 Quarter
Less comprehensive earnings (loss) attributable to the noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $20.00M USD 1 Quarter
Less comprehensive earnings (loss) attributable to the noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $18.00M USD 1 Quarter
Comprehensive earnings (loss) attributable to Liberty Interactive Corporation shareholders ComprehensiveIncomeNetOfTax $530.00M USD 1 Quarter
Comprehensive earnings (loss) attributable to Liberty Interactive Corporation shareholders ComprehensiveIncomeNetOfTax $444.00M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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