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Annual report pursuant to Section 13 and 15(d)

Intangible Assets (Tables)

v3.8.0.1
Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract] Ìý
Changes In The Carrying Amount Of Goodwill

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

ÌýÌýÌýÌý

QVC

Ìý

zulily

Ìý

HSN

ÌýÌýÌýÌý

Corporate and Other

ÌýÌýÌýÌý

Total

Ìý

Ìý

Ìý

amountsÌýinÌýmillions

Ìý

Balance at January 1, 2016

Ìý

$

5,149

Ìý

860

Ìý

Ìý—

Ìý

103

Ìý

6,112

Ìý

Acquisition (1)

Ìý

Ìý

Ìý—

Ìý

57

Ìý

Ìý—

Ìý

Ìý—

Ìý

57

Ìý

Disposition (2)

Ìý

Ìý

Ìý—

Ìý

Ìý—

Ìý

Ìý—

Ìý

(78)

Ìý

(78)

Ìý

Foreign currency translation adjustments

Ìý

Ìý

(39)

Ìý

Ìý—

Ìý

Ìý—

Ìý

Ìý—

Ìý

(39)

Ìý

Balance at December 31, 2016

Ìý

Ìý

5,110

Ìý

917

Ìý

Ìý—

Ìý

25

Ìý

6,052

Ìý

Acquisition (3)

Ìý

Ìý

Ìý—

Ìý

Ìý—

Ìý

933

Ìý

17

Ìý

950

Ìý

Foreign currency translation adjustments

Ìý

Ìý

80

Ìý

Ìý—

Ìý

Ìý—

Ìý

Ìý—

Ìý

80

Ìý

Balance at December 31, 2017

Ìý

$

5,190

Ìý

917

Ìý

933

Ìý

42

Ìý

7,082

Ìý

Ìý

(1)

Subsequent to December 31, 2015, the preliminary purchase price allocation for the zulily acquisition was adjusted, resulting in a $57 million increase to goodwill.

(2)

As discussed in note 6, Liberty completed the CommerceHub Spin-Off on July 22, 2016, resulting in a $21 million decrease to goodwill. In addition, as discussed in note 6, Liberty completed the Expedia Holdings Split-Off on November 4, 2016, resulting in a $57 million decrease to goodwill related to Bodybuilding.

(3)

As discussed in note 5, on December 29, 2017,ÌýÌýthe Company acquired the approximately 62% of HSNi it did not already own in an all-stock transaction making HSNi a wholly-owned subsidiary, attributed to the QVC Group tracking stock group. The acquisition resulted in an increase to goodwill of $950 million.

Schedule of Intangible assets subject to amortization

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Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

DecemberÌý31,Ìý2017

Ìý

DecemberÌý31,Ìý2016

Ìý

Ìý

ÌýÌýÌýÌý

Gross

ÌýÌýÌýÌý

ÌýÌýÌýÌý

ÌýÌýÌýÌý

Net

ÌýÌýÌýÌý

Gross

ÌýÌýÌýÌý

ÌýÌýÌýÌý

ÌýÌýÌýÌý

Net

Ìý

Ìý

Ìý

carrying

Ìý

Accumulated

Ìý

carrying

Ìý

carrying

Ìý

Accumulated

Ìý

carrying

Ìý

Ìý

Ìý

amount

Ìý

amortization

Ìý

amount

Ìý

amount

Ìý

amortization

Ìý

amount

Ìý

Ìý

Ìý

amountsÌýinÌýmillions

Ìý

Television distribution rights

Ìý

$

730

Ìý

(652)

Ìý

78

Ìý

2,279

Ìý

(2,095)

Ìý

184

Ìý

Customer relationships

Ìý

Ìý

3,356

Ìý

(2,626)

Ìý

730

Ìý

2,910

Ìý

(2,394)

Ìý

516

Ìý

Other

Ìý

Ìý

1,268

Ìý

(828)

Ìý

440

Ìý

965

Ìý

(660)

Ìý

305

Ìý

Total

Ìý

$

5,354

Ìý

(4,106)

Ìý

1,248

Ìý

6,154

Ìý

(5,149)

Ìý

1,005

Ìý

Ìý

Amortization Expense For The Next Five Fiscal Years

Based on its amortizable intangible assets as of DecemberÌý31, 2017, Liberty expects that amortization expense will be as follows for the next five years (amounts in millions):

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

2018

ÌýÌýÌýÌý

$

401

Ìý

2019

Ìý

$

236

Ìý

2020

Ìý

$

162

Ìý

2021

Ìý

$

129

Ìý

2022

Ìý

$

77

Ìý

Ìý