Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.23.2
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