º¬Ð߲ݴ«Ã½

Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.19.3.a.u2
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2019
Summary of activity in the allowance for doubtful accounts

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Balance

​

Additions

​

​

​

​

Balance

Ìý

​

​

beginning

​

Charged

​

​

​

​

Deductions-

​

endÌýof

Ìý

​

​

ofÌýyear

​

toÌýexpense

​

Other

​

write-offs

​

year

Ìý

​

​

amountsÌýinÌýmillions

Ìý

2019

ÌýÌýÌýÌý

$

117

ÌýÌýÌýÌý

130

ÌýÌýÌýÌý

4

Ìý

ÌýÌýÌýÌý

(122)

Ìý

ÌýÌýÌýÌý

129

​

2018

​

$

92

ÌýÌýÌýÌý

123

ÌýÌýÌýÌý

3

Ìý

ÌýÌýÌýÌý

(101)

Ìý

ÌýÌýÌýÌý

117

​

2017

ÌýÌýÌýÌý

$

99

ÌýÌýÌýÌý

73

ÌýÌýÌýÌý

(1)

Ìý

ÌýÌýÌýÌý

(79)

Ìý

ÌýÌýÌýÌý

92

​

Schedule of Property and Equipment

​

​

​

​

​

​

​

​

​

​

DecemberÌý31,

​

DecemberÌý31,

Ìý

​

​

2019

​

2018

​

​

​

amountsÌýinÌýmillions

Ìý

Land

ÌýÌýÌýÌý

$

128

ÌýÌýÌýÌý

128

​

Buildings and improvements

​

Ìý

1,204

Ìý

1,194

​

Support equipment

​

Ìý

1,023

Ìý

1,302

​

Projects in progress

​

Ìý

169

Ìý

61

​

Finance lease right-of-use ("ROU") assets

​

​

282

​

—

​

Total property and equipment

​

$

2,806

Ìý

2,685

​

Schedule of disaggregation of revenue

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Year ended

​

​

December 31, 2019

​

​

​

QxH

​

QVC Int'l

​

Zulily

​

Corp and other

​

Total

​

​

in millions

​

Home

$

3,047

​

905

​

422

​

729

​

5,103

​

Beauty

​

1,299

​

659

​

53

​

—

​

2,011

​

Apparel

​

1,289

​

422

​

582

​

172

​

2,465

​

Accessories

​

918

​

376

​

416

​

—

​

1,710

​

Electronics

​

1,141

​

107

​

15

​

—

​

1,263

​

Jewelry

​

402

​

226

​

54

​

—

​

682

​

Other revenue

​

181

​

14

​

29

​

—

​

224

​

Total Revenue

$

8,277

​

2,709

​

1,571

​

901

​

13,458

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Year ended

​

​

December 31, 2018

​

​

​

QxH

​

QVC Int'l

​

Zulily

​

Corp and other

​

Total

​

​

in millions

​

Home

$

3,175

​

1,023

​

511

​

791

​

5,500

​

Beauty

​

1,326

​

640

​

50

​

—

​

2,016

​

Apparel

​

1,323

​

453

​

684

​

180

​

2,640

​

Accessories

​

933

​

273

​

472

​

—

​

1,678

​

Electronics

​

1,129

​

119

​

18

​

—

​

1,266

​

Jewelry

​

473

​

213

​

53

​

—

​

739

​

Other revenue

​

185

​

17

​

29

​

—

​

231

​

Total Revenue

$

8,544

​

2,738

​

1,817

​

971

​

14,070

​

Summary of activity in allowance for sales returns

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Balance beginning of year

​

Additions - charged to earnings

​

Deductions

​

Acquisition of HSN

​

Balance end of year

​

​

in millions

2019

$

266

​

2,336

​

(2,341)

​

-

​

261

2018 (1)

$

267

​

2,434

​

(2,435)

​

-

​

266

2017

$

98

​

1,027

​

(1,023)

​

35

​

137

(1) Amounts in 2018 and 2019 include the impact of adoption of ASC 606.
Schedule of net earnings attributable to stockholders

Net earnings (loss) attributable to º¬Ð߲ݴ«Ã½ stockholders is comprised of the following (amounts in millions):

​

​

​

​

​

​

​

​

​

​

​

​

Years ended December 31,

​

​

​

2019

​

2018

​

2017

​

º¬Ð߲ݴ«Ã½

ÌýÌýÌýÌý

​

​

ÌýÌýÌýÌý

​

ÌýÌýÌýÌý

​

Ìý

Net earnings (loss) from continuing operations

​

$

(456)

​

674

​

1,208

​

Net earnings (loss) from discontinued operations

​

$

NA

​

NA

​

NA

​

Liberty Ventures

​

​

​

​

​

​

​

​

Net earnings (loss) from continuing operations

​

$

NA

​

101

​

781

​

Net earnings (loss) from discontinued operations

​

$

NA

​

141

​

452

​

Schedule of weighted average number of shares outstanding

​

​

​

​

​

​

​

​

​

​

​

​

​

YearsÌýended December 31,

Ìý

​

ÌýÌýÌýÌý

​

2019

ÌýÌýÌýÌý

2018

ÌýÌýÌýÌý

2017

Ìý

​

​

​

numberÌýofÌýsharesÌýinÌýmillions

Ìý

Basic WASO

​

​

424

​

462

​

445

​

Potentially dilutive shares

​

​

—

​

3

​

3

​

Diluted WASO

​

​

424

​

465

​

448

​

Liberty Ventures common stock Ìý
Schedule of weighted average number of shares outstanding

​

​

​

​

​

​

​

​

​

​

​

​

ÌýÌýÌýÌý

YearsÌýended December 31,

Ìý

​

ÌýÌýÌýÌý

​

2019

ÌýÌýÌýÌý

2018 (1)

ÌýÌýÌýÌý

2017

Ìý

​

​

​

numberÌýofÌýsharesÌýinÌýmillions

Ìý

Basic WASO

​

Ìý

NA

​

86

​

86

​

Potentially dilutive shares

​

Ìý

NA

​

1

​

1

​

Diluted WASO

​

Ìý

NA

​

87

​

87

​

(1) All of the outstanding shares of Liberty Ventures Series A and B common stock were redeemed for GCI Liberty Series A and B common stock as a result of the GCI Liberty Split-Off on March 9, 2018.
ASU 2014-09 Ìý
Schedule of impact of new accounting pronouncements

​

​

​

​

​

​

​

​

​

​

​

As reported

​

​

​

Balance without

​

​

​

Year ended

​

​

​

adoption of

​

​

​

DecemberÌý31,Ìý2018

​

Impact of ASC 606

​

ASC 606

​

​

​

in millions

​

Net revenue

$

14,070

​

(154)

​

13,916

​

​

​

​

​

​

​

​

​

Cost of retail sales

$

9,209

​

(13)

​

9,196

​

Selling, general and administrative expenses, including stock-based compensation and transaction related costs

$

1,897

​

(126)

​

1,771

​

Operating expense

$

970

​

(2)

​

968

​

Income tax (expense) benefit

$

(60)

​

2

​

(58)

​

Net income

$

916

​

(11)

​

905

​