Qurate Retail (QRTEP) 10-Q 4 Nov 22 2022 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Oct. 31, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
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	2022
Document Fiscal Period Focus	Q3
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		373,838,128
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		8,373,512
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	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 624	$ 587
Trade and other receivables, net of allowance for credit losses of $107 million and $107 million, respectively	1,027	1,679
Inventory, net	1,737	1,623
Indemnification agreement receivable		324
Other current assets	189	235
Total current assets	3,577	4,448
Property and equipment, net	594	1,030
Intangible assets not subject to amortization (note 5):
Goodwill	3,430	6,339
Trademarks	2,718	3,038
Intangible assets not subject to amortization	6,148	9,377
Intangible assets not subject to amortization (note 5):	645	745
Other assets, at cost, net of accumulated amortization	832	602
Total assets	11,796	16,202
Current liabilities:
Accounts payable	977	1,429
Accrued liabilities	940	1,236
Current portion of debt, $389 million and $1,315 million measured at fair value (note 6)	603	1,315
Other current liabilities	214	244
Total current liabilities	2,734	4,224
Long-term debt, $310 million and zero measured at fair value (note 6)	5,303	5,674
Deferred income tax liabilities	1,447	1,350
Preferred stock (note 7)	1,266	1,261
Other liabilities	698	707
Total liabilities	11,448	13,216
Stockholders' equity :
Additional paid-in capital	38
Accumulated other comprehensive earnings (loss), net of taxes	(194)	(79)
Retained earnings	387	2,925
Total stockholders' equity	235	2,850
Noncontrolling interests in equity of subsidiaries	113	136
Total equity	348	2,986
Commitments and contingencies (note 8)
Total liabilities and equity	11,796	16,202
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	Sep. 30, 2022	Dec. 31, 2021
Allowance for doubtful accounts	$ 107	$ 107
Current portion of debt, fair value	389	1,315
Long-term Debt, Fair Value	$ 310	$ 0
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	373,833,469	371,132,684
Common stock, shares outstanding	373,833,469	371,132,684
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	8,373,512	8,163,190
Common stock, shares outstanding	8,373,512	8,163,190
Common Class C
Common stock, par or stated value per share	$ 0.01	$ 0.01
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Operations - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue:
Total revenue, net	$ 2,744	$ 3,144	$ 8,580	$ 9,985
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)	$ 1,905	$ 2,069	$ 5,885	$ 6,504
Type of cost of retail sales	us-gaap:RetailMember	us-gaap:RetailMember	us-gaap:RetailMember	us-gaap:RetailMember
Operating expense	$ 205	$ 204	$ 599	$ 627
Selling, general and administrative, including stock-based compensation (note 2)	464	458	1,370	1,378
Restructuring and fire related costs, net of (recoveries) (note 8)	(134)		(123)
Depreciation and amortization	107	139	371	396
Impairment of intangible assets (note 5)	3,081		3,081
(Gain) loss on sale of fixed assets, net (note 8)	(277)		(520)
Total operating costs and expenses	5,351	2,870	10,663	8,905
Operating income (loss)	(2,607)	274	(2,083)	1,080
Other income (expense):
Interest expense	(107)	(121)	(343)	(356)
Share of earnings (losses) of affiliates, net		(24)	(1)	(78)
Realized and unrealized gains (losses) on financial instruments, net (note 4)	(8)	41	29	101
Tax sharing income (expense) with Liberty Broadband	36	(3)	78	(16)
Other, net	37	3	83	6
Total other income (expense)	(42)	(104)	(154)	(343)
Earnings (loss) before income taxes	(2,649)	170	(2,237)	737
Income tax (expense) benefit	(87)	(20)	(265)	(113)
Net earnings (loss)	(2,736)	150	(2,502)	624
Less net earnings (loss) attributable to the noncontrolling interests	11	23	41	69
Net earnings (loss) attributable to Qurate Retail, Inc. shareholders	$ (2,747)	$ 127	$ (2,543)	$ 555
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):	$ (7.21)	$ 0.31	$ (6.69)	$ 1.36
Diluted net earnings (loss) attributable to Series A and Series B Qurate Retail, Inc. shareholders per common share (note 3):	$ (7.21)	$ 0.31	$ (6.69)	$ 1.32

Condensed Consolidated Statem_2

Condensed Consolidated Statements Of Comprehensive Earnings (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Condensed Consolidated Statements Of Comprehensive Earnings (Loss)
Net earnings (loss)	$ (2,736)	$ 150	$ (2,502)	$ 624
Other comprehensive earnings (loss), net of taxes:
Foreign currency translation adjustments	(127)	(28)	(330)	(92)
Recognition of previously unrealized losses (gains) on debt, net	(14)		(14)
Comprehensive earnings (loss) attributable to debt credit risk adjustments	30	(13)	204	(50)
Other comprehensive earnings (loss)	(111)	(41)	(140)	(142)
Comprehensive earnings (loss)	(2,847)	109	(2,642)	482
Less comprehensive earnings (loss) attributable to the noncontrolling interests	5	22	16	59
Comprehensive earnings (loss) attributable to Qurate Retail, Inc. shareholders	$ (2,852)	$ 87	$ (2,658)	$ 423

Condensed Consolidated Statem_3

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net earnings (loss)	$ (2,502)	$ 624
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation and amortization	371	396
Impairment of intangible assets	3,081
Stock-based compensation	46	54
Share of (earnings) losses of affiliates, net	1	78
Realized and unrealized (gains) losses on financial instruments, net	(29)	(101)
(Gain) loss on sale of fixed assets, net	(520)
Gain on insurance proceeds	(139)
Insurance proceeds received for operating losses	96
Deferred income tax expense (benefit)	45	(35)
Other, net	(68)	15
Changes in operating assets and liabilities
Decrease (increase) in accounts receivable	483	439
Decrease (increase) in inventory	(163)	(453)
Decrease (increase) in prepaid expenses and other assets	98	85
(Decrease) increase in trade accounts payable	(418)	(48)
(Decrease) increase in accrued and other liabilities	(419)	(339)
Net cash provided (used) by operating activities	(37)	715
Cash flows from investing activities:
Investments in and loans to cost and equity investees	(7)	(177)
Capital expenditures	(171)	(169)
Expenditures for television distribution rights	(36)	(184)
Cash proceeds from dispositions of investments	12	10
Proceeds from sale of fixed assets	701	40
Insurance proceeds	184
Other investing activities, net	21	(3)
Net cash provided (used) by investing activities	704	(483)
Cash flows from financing activities:
Borrowings of debt	2,069	394
Repayments of debt	(2,577)	(284)
Repurchases of Qurate Retail common stock		(216)
Withholding taxes on net settlements of stock-based compensation	(7)	(25)
Payments for issuances of financial instruments		(107)
Proceeds from settlements of financial instruments		88
Dividends paid to noncontrolling interest	(39)	(46)
Dividends paid to common shareholders	(11)	(14)
Other financing activities, net	(6)	(9)
Net cash provided (used) by financing activities	(571)	(219)
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash	(59)	(20)
Net increase (decrease) in cash, cash equivalents and restricted cash	37	(7)
Cash, cash equivalents and restricted cash at beginning of period	596	814
Cash, cash equivalents and restricted cash at end of period	$ 633	$ 807

Condensed Consolidated Statem_4

Condensed Consolidated Statements Of Cash Flows (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Condensed Consolidated Statements Of Cash Flows
Cash and cash equivalents	$ 624	$ 587
Restricted cash included in other current assets	$ 9	$ 9
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	$ 633	$ 596

Condensed Consolidated Statem_5

Condensed Consolidated Statements Of Equity - USD ($) $ in Millions	Common Class A Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Earnings	Retained Earnings	Noncontrolling Interest In Equity Of Subsidiaries	Total
Balance at Dec. 31, 2020	$ 4		$ 72	$ 3,478	$ 135	$ 3,689
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)				555	69	624
Other comprehensive income (loss)			(132)		(10)	(142)
Stock-based compensation		$ 51				51
Series A Qurate Retail stock repurchases		(239)				(239)
Distribution to noncontrolling interest					(46)	(46)
Withholding taxes on net share settlements of stock-based compensation		(25)				(25)
Other		(46)		4		(42)
Reclassification		259		(259)
Balance at Sep. 30, 2021	4		(60)	3,778	148	3,870
Balance at Jun. 30, 2021	4		(20)	3,743	141	3,868
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)				127	23	150
Other comprehensive income (loss)			(40)		(1)	(41)
Stock-based compensation		18				18
Series A Qurate Retail stock repurchases		(134)				(134)
Distribution to noncontrolling interest					(15)	(15)
Withholding taxes on net share settlements of stock-based compensation		(1)				(1)
Other		24		1		25
Reclassification		93		(93)
Balance at Sep. 30, 2021	4		(60)	3,778	148	3,870
Balance at Dec. 31, 2021	4		(79)	2,925	136	2,986
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)				(2,543)	41	(2,502)
Other comprehensive income (loss)			(115)		(25)	(140)
Stock-based compensation		44				44
Distribution to noncontrolling interest					(39)	(39)
Withholding taxes on net share settlements of stock-based compensation		(7)				(7)
Other		1		5		6
Balance at Sep. 30, 2022	4	38	(194)	387	113	348
Balance at Jun. 30, 2022	4	23	(89)	3,134	119	3,191
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)				(2,747)	11	(2,736)
Other comprehensive income (loss)			(105)		(6)	(111)
Stock-based compensation		14				14
Distribution to noncontrolling interest					(11)	(11)
Withholding taxes on net share settlements of stock-based compensation		1				1
Balance at Sep. 30, 2022	$ 4	$ 38	$ (194)	$ 387	$ 113	$ 348

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2022
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. (“Cornerstone”), Zulily, LLC (“Zulily”), and other cost and equity 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, Cornerstone and Zulily, 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, 2021, 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, 2021 (the “2021 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. In December 2019, a new coronavirus (“COVID-19”) was reported to have surfaced in Wuhan, China and has subsequently spread across the globe causing a global pandemic, impacting all countries where Qurate Retail operates. As a result of the spread of COVID-19, certain local governmental agencies have imposed travel restrictions, local quarantines or stay at home restrictions to contain the spread, which has caused a significant disruption to most sectors of the economy. Management is not presently aware of any events or circumstances arising from COVID-19 that would require the Company to update the estimates, judgments or revise the carrying value of our assets or liabilities. Management's estimates may change, however, as new events occur and additional information is obtained, and any such changes will be recognized in the consolidated financial statements. Actual results could differ from estimates, and any such differences may be material to our financial statements. Qurate Retail has entered into certain agreements with Liberty Media Corporation ("LMC") (for accounting purposes, a related party of the Company), 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 13% 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 $1 million and $2 million was reimbursable to LMC for the three months ended September 30, 2022 and 2021, respectively, and $6 million and $8 million was reimbursable to LMC for the nine months ended September 30, 2022 and 2021, respectively. Qurate Retail had a tax sharing payable to LMC and Liberty Broadband in the amount of approximately $18 million and $96 million as of September 30, 2022 and December 31, 2021, respectively, included in Other liabilities in the condensed consolidated balance sheets. ​ Revision of Prior Period Financial Information ​ The Company has revised its condensed consolidated financial statements and related notes included herein to correct immaterial errors in depreciation expense reported in periods prior to 2021, along with deferred tax adjustments. Revisions have been reflected in the comparative 2021 financial statements to reduce property and equipment, net by $47 million, reduce deferred income tax liabilities by $3 million and reduce retained earnings by $44 million, including the opening balance as of January 1, 2021. ​

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2022
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 $15 million and $19 million of stock-based compensation during the three months ended September 30, 2022 and 2021, respectively, and $46 million and $54 million of stock-based compensation during the nine months ended September 30, 2022 and 2021, respectively. ​ Qurate Retail—RSUs The following table presents the number and weighted average GDFV of RSUs granted by the Company during the nine months ended September 30, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended ​ ​ ​ September 30, 2022 ​ ​ ​ RSUs Granted (000's) ​ Weighted Average GDFV ​ ​ ​ ​ ​ ​ ​ ​ Series A Qurate Retail common stock, subsidiary employees (1) ​ 11,101 ​ $ 4.82 ​ Series A Qurate Retail common stock, Qurate Retail employees and directors (2) ​ 217 ​ $ 4.91 ​ Series A Qurate Retail common stock, Qurate Retail President and CEO (3) ​ 596 ​ $ 4.91 ​ Series B Qurate Retail common stock, Qurate Retail Chairman of the Board (4) ​ 327 ​ $ 4.95 ​ (1) Grants mainly vest 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. ​ 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, 2022 42,110 ​ $ 9.23 ​ ​ ​ ​ ​ ​ ​ Granted — ​ $ — ​ ​ ​ ​ ​ ​ ​ Exercised (392) ​ $ 2.26 ​ ​ ​ ​ ​ ​ ​ Forfeited/Cancelled (4,705) ​ $ 10.70 ​ ​ ​ ​ ​ ​ ​ Options outstanding at September 30, 2022 37,013 ​ $ 9.12 2.8 years ​ $ — ​ Options exercisable at September 30, 2022 25,260 ​ $ 10.81 2.0 years ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Aggregate ​ ​ ​ ​ ​ ​ ​ average ​ intrinsic ​ ​ ​ Series B ​ ​ ​ ​ remaining ​ value ​ ​ ​ (000's) ​ WAEP ​ life ​ (millions) ​ Options outstanding at January 1, 2022 2,221 ​ $ 12.25 ​ ​ ​ ​ ​ ​ ​ Granted — ​ $ — ​ ​ ​ ​ ​ ​ ​ Exercised — ​ $ — ​ ​ ​ ​ ​ ​ ​ Forfeited/Cancelled ​ — ​ $ — ​ ​ ​ ​ ​ ​ ​ Options outstanding at September 30, 2022 2,221 ​ $ 12.25 1.0 year ​ $ — ​ Options exercisable at September 30, 2022 2,221 ​ $ 12.25 1.0 year ​ $ — ​ ​ ​ 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, 2022 12,905 ​ $ 9.38 ​ — ​ $ — ​ Granted 11,914 ​ $ 4.83 ​ 327 ​ $ 4.95 ​ Vested (3,859) ​ $ 10.02 ​ — ​ $ — ​ Forfeited/Cancelled (3,479) ​ $ 7.54 ​ — ​ $ — ​ RSUs outstanding at September 30, 2022 17,481 ​ $ 6.50 ​ 327 ​ $ 4.95 ​ ​ As of September 30, 2022, Qurate Retail also had 1.1 million QRTEB RSAs and 95 thousand Qurate Retail 8.0% Series A Cumulative Redeemable Preferred Stock RSAs and RSUs outstanding. The QRTEB unvested RSAs had a weighted average GDFV of $13.65 per share, and 82 thousand of the Qurate Retail 8.0% Series A Cumulative Redeemable Preferred Stock unvested RSUs had an incremental cost of $49.50 per share. ​ As of September 30, 2022, the total unrecognized compensation cost related to unvested Awards was approximately $105 million. Such amount will be recognized in the Company's consolidated statements of operations over a weighted average period of approximately 2.3 years. As of September 30, 2022, Qurate Retail reserved for issuance upon exercise of outstanding stock options approximately 37.0 million shares of QRTEA and 2.2 million shares of QRTEB common stock.

Earnings (Loss) Per Common Shar

Earnings (Loss) Per Common Share	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 and 2021 are 34 million and 22 million potential common shares, respectively, because their inclusion would have been antidilutive. Excluded from diluted EPS for the nine months ended September 30, 2022 and 2021 are 32 million and 22 million potential common shares, respectively, because their inclusion would have been antidilutive. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Qurate Retail Common Stock ​ ​ Three months ended Nine months ended ​ ​ ​ September 30, ​ September 30, ​ ​ ​ 2022 ​ 2021 ​ 2022 ​ 2021 ​ ​ ​ number of shares in millions ​ Basic WASO 381 ​ 404 380 408 ​ Potentially dilutive shares 1 ​ 12 3 12 ​ Diluted WASO 382 ​ 416 383 420 ​ ​

Assets and Liabilities Measured

Assets and Liabilities Measured at Fair Value	9 Months Ended
	Sep. 30, 2022
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 ​ ​ September 30, 2022 ​ December 31, 2021 ​ ​ ​ 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 ​ $ 314 314 — 149 149 — ​ Indemnification asset ​ $ 35 ​ — ​ 35 ​ 324 ​ — ​ 324 ​ Debt ​ $ 699 — 699 1,315 — 1,315 ​ ​ 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 September 30, 2022 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 September 30, 2022, a holder of the 1.75% Exchangeable Debentures does not have the ability to exchange and, accordingly, such indemnification asset is included as a long-term asset in our condensed consolidated balance sheet as of that date. ​ ​ 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 ​ Nine months ended ​ ​ September 30, ​ September 30, ​ 2022 2021 2022 2021 ​ ​ amounts in millions Equity securities ​ ​ — ​ 48 ​ (5) ​ 98 ​ Exchangeable senior debentures ​ 130 (50) 320 (183) ​ Indemnification asset ​ ​ (138) ​ 8 ​ (287) ​ 49 ​ Other financial instruments ​ ​ — ​ 35 ​ 1 ​ 137 ​ ​ ​ $ (8) 41 29 101 ​ ​ 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 gain of $22 million and a loss of $16 million for the three months ended September 30, 2022 and 2021, respectively, and a gain of $246 million and a loss of $60 million for the nine months ended September 30, 2022 and 2021, respectively. The cumulative change was a gain of $394 million as of September 30, 2022, net of the recognition of previously unrecognized gains and losses.

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2022
Intangible Assets
Intangible Assets	(5) Intangible Assets Goodwill Changes in the carrying amount of goodwill are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate and ​ ​ ​ ​ QxH ​ QVC Int'l ​ Zulily Other Total ​ ​ amounts in millions Balance at January 1, 2022 ​ $ 5,228 ​ 855 ​ 244 12 6,339 ​ Impairments ​ ​ (2,535) ​ — ​ (226) ​ — ​ (2,761) ​ Foreign currency translation adjustments ​ — ​ (148) ​ — — (148) ​ Balance at September 30, 2022 ​ $ 2,693 ​ 707 ​ 18 12 3,430 ​ ​ As a result of recent financial performance of certain subsidiary businesses, macroeconomic conditions including inflation and higher interest rates and a decline in the Company’s stock price, the Company initiated a process to evaluate those subsidiaries’ current business models and long-term business strategies. It was determined during the third quarter of 2022 that an indication of impairment existed for the QxH and Zulily reporting units related to their tradenames and goodwill. With the assistance of a third party specialist, the fair value of the tradenames was determined using the relief from royalty method, primarily using a discounted cash flow model using QxH’s and Zulily’s projections of future operating performance (income approach) and applying a royalty rate (market approach) (Level 3) , and impairments in the amounts of $180 million and $140 million for QxH (related to the HSN tradename) and Zulily, respectively, were recorded during the third quarter of 2022, in the impairment of intangible assets line item in the consolidated statements of operations. With the assistance of a third party specialist, the fair value of the QxH and Zulily reporting units was determined using a discounted cash flow method (Level 3), and goodwill impairments in the amounts of $2,535 million and $226 million for QxH and Zulily, respectively, were recorded during the third quarter of 2022, in the impairment of intangible assets line item in the consolidated statements of operations. ​ As of September 30, 2022 the Company had accumulated goodwill impairment losses of $899 million attributed to the Zulily reporting unit, and goodwill impairment losses of $2,535 million attributed to the QxH reporting unit. ​ Based on the quantitative assessment performed during the third quarter and the resulting impairment losses recorded, the estimated fair values of the HSN and Zulily tradenames and the QxH and Zulily reporting units equal their carrying values as of September 30, 2022. ​ Intangible Assets Subject to Amortization Amortization expense for intangible assets with finite useful lives was $81 million and $94 million for the three months ended September 30, 2022 and 2021, respectively, and $241 million and $261 million for the nine months ended September 30, 2022 and 2021, respectively. Based on its amortizable intangible assets as of September 30, 2022, Qurate Retail expects that amortization expense will be as follows for the next five years (amounts in millions): ​ ​ ​ ​ ​ ​ Remainder of 2022 $ 87 ​ 2023 ​ $ 254 ​ 2024 ​ $ 165 ​ 2025 ​ $ 79 ​ 2026 ​ $ 50 ​ ​

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2022
Long-Term Debt
Long-Term Debt	​ (6) Long-Term Debt Debt is summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ ​ ​ ​ ​ ​ ​ principal at ​ Carrying value ​ September 30, 2022 September 30, 2022 December 31, 2021 ​ ​ 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 ​ ​ 354 ​ ​ 176 ​ 328 ​ 3.75% Exchangeable Senior Debentures due 2030 ​ ​ 430 ​ ​ 213 ​ 347 ​ 1.75% Exchangeable Senior Debentures due 2046 ​ ​ 330 ​ ​ 310 ​ 640 ​ Subsidiary level notes and facilities ​ ​ ​ ​ ​ ​ ​ ​ ​ QVC 4.375% Senior Secured Notes due 2023 ​ 214 ​ 214 750 ​ QVC 4.85% Senior Secured Notes due 2024 ​ 600 ​ 600 600 ​ QVC 4.45% Senior Secured Notes due 2025 ​ ​ 600 ​ ​ 599 ​ 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 ​ ​ 545 ​ ​ 545 ​ 481 ​ Deferred loan costs ​ ​ — ​ ​ (39) ​ (44) ​ Total consolidated Qurate Retail debt ​ $ 6,365 ​ 5,906 6,989 ​ Less current classification ​ ​ ​ ​ (603) (1,315) ​ Total long-term debt ​ ​ ​ ​ $ 5,303 5,674 ​ ​ ​ 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”). As a result of the Tender Offer, the Company recorded a loss on extinguishment of debt in the condensed consolidated statements of operations of $6 million for the nine months ended September 30, 2022. As of September 30, 2022, the remaining outstanding 4.375% Senior Secured Notes due 2023 are classified within current portion of debt as they mature in less than one year. ​ 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 a fifth amended and restated agreement with QVC, Zulily, Cornerstone, and QVC Global Corporate Holdings, LLC (“QVC Global”), each a direct or indirect wholly owned subsidiary of Qurate Retail, as borrowers (QVC, Zulily, Cornerstone and QVC Global, collectively, the “Borrowers”), JPMorgan Chase Bank, N.A., as administrative agent, and the other parties named therein. ​ The Fifth Amended and Restated Credit Agreement is a multi-currency facility providing for a $3.25 billion revolving credit facility (the “New 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 New 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 Zulily, Cornerstone, QVC Global or any other borrower under the New 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 New Credit Facility may be reborrowed. ​ The loans under the New 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, Zulily’s and Cornerstone’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 Zulily’s and Cornerstone’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 September 30, 2022 was $2,683 million. The interest rate on the Fifth Amended and Restated Credit Agreement was 4.5% at September 30, 2022. ​ 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 September 30, 2022 the Company’s exchangeable debentures have been classified as current because the Company does not own shares to exchange the debentures or they are currently exchangeable, with the exception of the 1.75% Exchangeable Senior Debentures due 2046 which are classified as long-term as they are not currently exchangeable. 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. Although we do not own shares underlying certain of the exchangeable senior debentures, the Company has entered into certain derivative transactions in order to hedge against upward price fluctuations on certain shares. Such derivative instruments are recognized in the other current assets line item in the condensed consolidated balance sheets, and are marked to fair value each reporting period. The changes in fair value are recognized in the realized and unrealized gains (losses) on financial instruments, net line item in the condensed statement of operations. ​ Debt Covenants Qurate Retail and its subsidiaries are in compliance with all debt covenants at September 30, 2022. 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 September 30, 2022 are as follows (amounts in millions): ​ ​ ​ ​ ​ ​ Senior debentures ​ $ 547 ​ QVC senior secured notes $ 3,068 ​ ​ Due to the variable rate nature, Qurate Retail believes that the carrying amount of its other debt, not discussed above, approximated fair value at September 30, 2022.

Preferred Stock

Preferred Stock	9 Months Ended
	Sep. 30, 2022
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 12,671,984 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. ​

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
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, Inc. 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 records estimated insurance recoveries for fire related costs for which recovery is deemed probable. For the year ended December 31, 2021, QVC recorded $250 million of fire related costs and estimated insurance recoveries of $229 million for which recovery was deemed probable. As of December 31, 2021, the Company received $100 million of insurance proceeds and had an insurance receivable of $129 million which was recorded in Trade and other receivables, net in the condensed consolidated balance sheet. For the nine months ended September 30, 2022, the Company recorded an additional $147 million of fire related costs, including $95 million for the write-down of inventory, and estimated insurance recoveries of $47 million for which recovery was deemed probable. For the nine months ended September 30, 2022, the Company received $280 million of insurance proceeds for inventory, fixed asset losses and other fire related costs and recorded a gain of $139 million in Restructuring and fire related costs, net of (recoveries) in the condensed consolidated statement of operations, representing the proceeds received in excess of losses recognized. The Company recorded an insurance receivable, net of advance proceeds received, for other fire related costs for which recovery was deemed probable of $35 million which was recorded in Trade and other receivables, net in the condensed consolidated balance sheet. During the nine months ended September 30, 2022, inventory write-downs related to Rocky Mount inventory of $95 million were 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). QVC is in the process of submitting its business interruption claim with the insurance company; however, there can be no guarantee that all business interruption losses will be recovered. QVC expects to continue to record additional costs and recoveries until the insurance claim is fully settled. 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 are consistent with Zulily’s strategy to operate more efficiently as it implements its turnaround plan, and Zulily expects to incur additional expenses related to these transformation initiatives in future periods. Zulily recorded $3 million and $8 million of restructuring charges during the three and nine months ended September 30, 2022, respectively, principally related to its regional office space strategy and expenses associated with the Pennsylvania facility closure. Zulily recorded $3 million of restructuring charges during the nine months ended September 30, 2022 related to its reduction in corporate workforce. ​ Gain on Sale of Fixed Assets 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, QVC 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 and forgiveness of the remaining financing obligation of $84 million) and the carrying value of the distribution center. The gain is included in (gain) loss on sale of fixed assets, net in the condensed consolidated statement of operations. The Company accounted for the modified lease as an operating lease and recorded a $37 million right-of-use asset operating lease liability In July 2022, QVC sold five owned and operated properties located in the U.S. to an independent third party and received net cash proceeds of $443 million. 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 recognized a $277 million gain related to the successful sale leaseback for the three and nine months ended September 30, 2022, calculated as the difference between the aggregate consideration received and the carrying value of the properties. The Company accounted for the leases as operating leases and recorded a $207 million right-of-use asset liability, with the difference attributable to initial direct costs ​ On November 2, 2022 and November 3, 2022, QVC entered into agreements to sell two properties located in Germany and the U.K. to an independent third party. Under the terms of the agreements, QVC will receive cash payments of approximately € ​ ​ ​ ​ ​ ​ ​

Information About Qurate Retail

Information About Qurate Retail's Operating Segments	9 Months Ended
	Sep. 30, 2022
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 nine months ended September 30, 2022, 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. ● Zulily – Zulily markets and sells a wide variety of consumer products in the United States and several foreign countries through flash sales and other curated events, primarily through its app, mobile and desktop experiences. 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 2021 10-K. Performance Measures Disaggregated revenue by segment and product category consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ ​ September 30, 2022 ​ ​ ​ ​ QxH ​ QVC Int'l ​ Zulily ​ Corp and other ​ Total ​ ​ in millions ​ Home ​ $ 621 ​ 208 ​ 53 ​ 283 ​ 1,165 ​ Apparel ​ ​ 330 ​ 100 ​ 79 ​ 44 ​ 553 ​ Beauty ​ ​ 252 ​ 129 ​ 9 ​ — ​ 390 ​ Accessories ​ ​ 190 ​ 49 ​ 47 ​ — ​ 286 ​ Electronics ​ ​ 152 ​ 20 ​ 2 ​ — ​ 174 ​ Jewelry ​ ​ 73 ​ 45 ​ 6 ​ — ​ 124 ​ Other revenue ​ ​ 45 ​ 3 ​ 4 ​ — ​ 52 ​ Total Revenue ​ $ 1,663 ​ 554 ​ 200 ​ 327 ​ 2,744 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended ​ ​ ​ September 30, 2022 ​ ​ ​ ​ QxH ​ QVC Int'l ​ Zulily ​ Corp and other ​ Total ​ ​ in millions ​ Home ​ $ 1,950 ​ 729 ​ 167 ​ 825 ​ 3,671 ​ Apparel ​ ​ 982 ​ 334 ​ 265 ​ 140 ​ 1,721 ​ Beauty ​ ​ 766 ​ 419 ​ 30 ​ — ​ 1,215 ​ Accessories ​ ​ 633 ​ 162 ​ 145 ​ — ​ 940 ​ Electronics ​ ​ 411 ​ 71 ​ 5 ​ — ​ 487 ​ Jewelry ​ ​ 231 ​ 139 ​ 23 ​ — ​ 393 ​ Other revenue ​ ​ 128 ​ 8 ​ 17 ​ — ​ 153 ​ Total Revenue ​ $ 5,101 ​ 1,862 ​ 652 ​ 965 ​ 8,580 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ September 30, 2021 ​ ​ ​ QxH ​ QVC Int'l ​ Zulily ​ Corp and other ​ Total ​ ​ in millions Home ​ $ 679 ​ 272 ​ 93 ​ 258 ​ 1,302 Apparel ​ ​ 336 ​ 119 ​ 132 ​ 46 ​ 633 Beauty ​ ​ 279 ​ 164 ​ 15 ​ — ​ 458 Accessories ​ ​ 210 ​ 62 ​ 66 ​ — ​ 338 Electronics ​ ​ 171 ​ 24 ​ 3 ​ — ​ 198 Jewelry ​ ​ 95 ​ 55 ​ 11 ​ — ​ 161 Other revenue ​ ​ 43 ​ 3 ​ 8 ​ — ​ 54 Total Revenue ​ $ 1,813 ​ 699 ​ 328 ​ 304 ​ 3,144 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended ​ ​ ​ September 30, 2021 ​ ​ ​ ​ QxH ​ QVC Int'l ​ Zulily ​ Corp and other ​ Total ​ ​ in millions ​ Home ​ $ 2,229 ​ 905 ​ 336 ​ 748 ​ 4,218 ​ Apparel ​ ​ 985 ​ 372 ​ 429 ​ 133 ​ 1,919 ​ Beauty ​ ​ 859 ​ 521 ​ 50 ​ — ​ 1,430 ​ Accessories ​ ​ 720 ​ 199 ​ 218 ​ — ​ 1,137 ​ Electronics ​ ​ 539 ​ 89 ​ 10 ​ — ​ 638 ​ Jewelry ​ ​ 269 ​ 169 ​ 37 ​ — ​ 475 ​ Other revenue ​ ​ 137 ​ 9 ​ 22 ​ — ​ 168 ​ Total Revenue ​ $ 5,738 ​ 2,264 ​ 1,102 ​ 881 ​ 9,985 ​ ​ ​ ​ Adjusted OIBDA is summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ ​ ​ 2022 ​ 2021 ​ ​ 2022 ​ 2021 ​ ​ ​ amounts in millions ​ ​ ​ ​ ​ ​ QxH ​ $ 143 325 ​ ​ 600 1,065 ​ QVC International ​ ​ 62 ​ 115 ​ ​ 261 ​ 402 ​ Zulily ​ (25) (17) ​ ​ (61) (2) ​ Corporate and other ​ 5 9 ​ ​ 67 65 ​ Consolidated Qurate Retail ​ $ 185 432 ​ ​ 867 1,530 ​ ​ Other Information ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 ​ ​ Total assets ​ Capital expenditures ​ ​ amounts in millions QxH ​ $ 8,929 116 ​ QVC International ​ ​ 1,767 ​ 19 ​ Zulily ​ ​ 228 ​ 10 ​ Corporate and other ​ 872 26 ​ Consolidated Qurate Retail ​ $ 11,796 171 ​ ​ The following table provides a reconciliation of Adjusted OIBDA to Operating income (loss) and Earnings (loss) before income taxes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ September 30, ​ September 30, ​ 2022 2021 2022 2021 ​ ​ amounts in millions Adjusted OIBDA ​ $ 185 432 867 1,530 ​ Stock-based compensation ​ (15) (19) (46) (54) ​ Depreciation and amortization ​ (107) (139) (371) (396) ​ Restructuring and fire related costs, net of recoveries (including Rocky Mount inventory losses, see note 8) ​ ​ 134 ​ — ​ 28 ​ — ​ Impairment of intangible assets ​ ​ (3,081) ​ ​ ​ (3,081) ​ ​ ​ Gains (losses) on sales of fixed assets, net ​ ​ 277 ​ — ​ 520 ​ — ​ Operating income (loss) ​ $ (2,607) ​ 274 ​ (2,083) ​ 1,080 ​ Interest expense ​ (107) (121) (343) (356) ​ Share of earnings (loss) of affiliates, net ​ — (24) (1) (78) ​ Realized and unrealized gains (losses) on financial instruments, net ​ (8) 41 29 101 ​ Tax sharing income (expense) with Liberty Broadband ​ ​ 36 ​ (3) ​ 78 ​ (16) ​ Other, net ​ 37 3 83 6 ​ Earnings (loss) before income taxes ​ $ (2,649) 170 (2,237) 737 ​ ​

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Schedule of number and weighted average GDFV of option granted	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended ​ ​ ​ September 30, 2022 ​ ​ ​ RSUs Granted (000's) ​ Weighted Average GDFV ​ ​ ​ ​ ​ ​ ​ ​ Series A Qurate Retail common stock, subsidiary employees (1) ​ 11,101 ​ $ 4.82 ​ Series A Qurate Retail common stock, Qurate Retail employees and directors (2) ​ 217 ​ $ 4.91 ​ Series A Qurate Retail common stock, Qurate Retail President and CEO (3) ​ 596 ​ $ 4.91 ​ Series B Qurate Retail common stock, Qurate Retail Chairman of the Board (4) ​ 327 ​ $ 4.95 ​ (1) Grants mainly vest 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, 2022 12,905 ​ $ 9.38 ​ — ​ $ — ​ Granted 11,914 ​ $ 4.83 ​ 327 ​ $ 4.95 ​ Vested (3,859) ​ $ 10.02 ​ — ​ $ — ​ Forfeited/Cancelled (3,479) ​ $ 7.54 ​ — ​ $ — ​ RSUs outstanding at September 30, 2022 17,481 ​ $ 6.50 ​ 327 ​ $ 4.95
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, 2022 42,110 ​ $ 9.23 ​ ​ ​ ​ ​ ​ ​ Granted — ​ $ — ​ ​ ​ ​ ​ ​ ​ Exercised (392) ​ $ 2.26 ​ ​ ​ ​ ​ ​ ​ Forfeited/Cancelled (4,705) ​ $ 10.70 ​ ​ ​ ​ ​ ​ ​ Options outstanding at September 30, 2022 37,013 ​ $ 9.12 2.8 years ​ $ — ​ Options exercisable at September 30, 2022 25,260 ​ $ 10.81 2.0 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, 2022 2,221 ​ $ 12.25 ​ ​ ​ ​ ​ ​ ​ Granted — ​ $ — ​ ​ ​ ​ ​ ​ ​ Exercised — ​ $ — ​ ​ ​ ​ ​ ​ ​ Forfeited/Cancelled ​ — ​ $ — ​ ​ ​ ​ ​ ​ ​ Options outstanding at September 30, 2022 2,221 ​ $ 12.25 1.0 year ​ $ — ​ Options exercisable at September 30, 2022 2,221 ​ $ 12.25 1.0 year ​ $ — ​

Earnings (Loss) Per Common Sh_2

Earnings (Loss) Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings (Loss) Per Common Share
Schedule of weighted average number of shares outstanding	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Qurate Retail Common Stock ​ ​ Three months ended Nine months ended ​ ​ ​ September 30, ​ September 30, ​ ​ ​ 2022 ​ 2021 ​ 2022 ​ 2021 ​ ​ ​ number of shares in millions ​ Basic WASO 381 ​ 404 380 408 ​ Potentially dilutive shares 1 ​ 12 3 12 ​ Diluted WASO 382 ​ 416 383 420 ​

Assets and Liabilities Measur_2

Assets and Liabilities Measured at Fair Value (Tables)	9 Months Ended
	Sep. 30, 2022
Assets and Liabilities Measured at Fair Value
Schedule of assets and liabilities measured at fair value	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at ​ Fair Value Measurements at ​ ​ September 30, 2022 ​ December 31, 2021 ​ ​ ​ 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 ​ $ 314 314 — 149 149 — ​ Indemnification asset ​ $ 35 ​ — ​ 35 ​ 324 ​ — ​ 324 ​ Debt ​ $ 699 — 699 1,315 — 1,315 ​
Summary of realized and unrealized gains (losses) on financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ September 30, ​ September 30, ​ 2022 2021 2022 2021 ​ ​ amounts in millions Equity securities ​ ​ — ​ 48 ​ (5) ​ 98 ​ Exchangeable senior debentures ​ 130 (50) 320 (183) ​ Indemnification asset ​ ​ (138) ​ 8 ​ (287) ​ 49 ​ Other financial instruments ​ ​ — ​ 35 ​ 1 ​ 137 ​ ​ ​ $ (8) 41 29 101 ​

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2022
Intangible Assets
Schedule of changes in the carrying amount of goodwill	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate and ​ ​ ​ ​ QxH ​ QVC Int'l ​ Zulily Other Total ​ ​ amounts in millions Balance at January 1, 2022 ​ $ 5,228 ​ 855 ​ 244 12 6,339 ​ Impairments ​ ​ (2,535) ​ — ​ (226) ​ — ​ (2,761) ​ Foreign currency translation adjustments ​ — ​ (148) ​ — — (148) ​ Balance at September 30, 2022 ​ $ 2,693 ​ 707 ​ 18 12 3,430 ​
Schedule of amortization expense for the next five years	Based on its amortizable intangible assets as of September 30, 2022, Qurate Retail expects that amortization expense will be as follows for the next five years (amounts in millions): ​ ​ ​ ​ ​ ​ Remainder of 2022 $ 87 ​ 2023 ​ $ 254 ​ 2024 ​ $ 165 ​ 2025 ​ $ 79 ​ 2026 ​ $ 50 ​

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2022
Long-Term Debt
Schedule of debt summarized	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ ​ ​ ​ ​ ​ ​ principal at ​ Carrying value ​ September 30, 2022 September 30, 2022 December 31, 2021 ​ ​ 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 ​ ​ 354 ​ ​ 176 ​ 328 ​ 3.75% Exchangeable Senior Debentures due 2030 ​ ​ 430 ​ ​ 213 ​ 347 ​ 1.75% Exchangeable Senior Debentures due 2046 ​ ​ 330 ​ ​ 310 ​ 640 ​ Subsidiary level notes and facilities ​ ​ ​ ​ ​ ​ ​ ​ ​ QVC 4.375% Senior Secured Notes due 2023 ​ 214 ​ 214 750 ​ QVC 4.85% Senior Secured Notes due 2024 ​ 600 ​ 600 600 ​ QVC 4.45% Senior Secured Notes due 2025 ​ ​ 600 ​ ​ 599 ​ 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 ​ ​ 545 ​ ​ 545 ​ 481 ​ Deferred loan costs ​ ​ — ​ ​ (39) ​ (44) ​ Total consolidated Qurate Retail debt ​ $ 6,365 ​ 5,906 6,989 ​ Less current classification ​ ​ ​ ​ (603) (1,315) ​ Total long-term debt ​ ​ ​ ​ $ 5,303 5,674 ​
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 September 30, 2022 are as follows (amounts in millions): ​ ​ ​ ​ ​ ​ Senior debentures ​ $ 547 ​ QVC senior secured notes $ 3,068 ​

Information About Qurate Reta_2

Information About Qurate Retail's Operating Segments (Tables)	9 Months Ended
	Sep. 30, 2022
Information About Qurate Retail's Operating Segments
Schedule of disaggregation of revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ ​ September 30, 2022 ​ ​ ​ ​ QxH ​ QVC Int'l ​ Zulily ​ Corp and other ​ Total ​ ​ in millions ​ Home ​ $ 621 ​ 208 ​ 53 ​ 283 ​ 1,165 ​ Apparel ​ ​ 330 ​ 100 ​ 79 ​ 44 ​ 553 ​ Beauty ​ ​ 252 ​ 129 ​ 9 ​ — ​ 390 ​ Accessories ​ ​ 190 ​ 49 ​ 47 ​ — ​ 286 ​ Electronics ​ ​ 152 ​ 20 ​ 2 ​ — ​ 174 ​ Jewelry ​ ​ 73 ​ 45 ​ 6 ​ — ​ 124 ​ Other revenue ​ ​ 45 ​ 3 ​ 4 ​ — ​ 52 ​ Total Revenue ​ $ 1,663 ​ 554 ​ 200 ​ 327 ​ 2,744 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended ​ ​ ​ September 30, 2022 ​ ​ ​ ​ QxH ​ QVC Int'l ​ Zulily ​ Corp and other ​ Total ​ ​ in millions ​ Home ​ $ 1,950 ​ 729 ​ 167 ​ 825 ​ 3,671 ​ Apparel ​ ​ 982 ​ 334 ​ 265 ​ 140 ​ 1,721 ​ Beauty ​ ​ 766 ​ 419 ​ 30 ​ — ​ 1,215 ​ Accessories ​ ​ 633 ​ 162 ​ 145 ​ — ​ 940 ​ Electronics ​ ​ 411 ​ 71 ​ 5 ​ — ​ 487 ​ Jewelry ​ ​ 231 ​ 139 ​ 23 ​ — ​ 393 ​ Other revenue ​ ​ 128 ​ 8 ​ 17 ​ — ​ 153 ​ Total Revenue ​ $ 5,101 ​ 1,862 ​ 652 ​ 965 ​ 8,580 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ September 30, 2021 ​ ​ ​ QxH ​ QVC Int'l ​ Zulily ​ Corp and other ​ Total ​ ​ in millions Home ​ $ 679 ​ 272 ​ 93 ​ 258 ​ 1,302 Apparel ​ ​ 336 ​ 119 ​ 132 ​ 46 ​ 633 Beauty ​ ​ 279 ​ 164 ​ 15 ​ — ​ 458 Accessories ​ ​ 210 ​ 62 ​ 66 ​ — ​ 338 Electronics ​ ​ 171 ​ 24 ​ 3 ​ — ​ 198 Jewelry ​ ​ 95 ​ 55 ​ 11 ​ — ​ 161 Other revenue ​ ​ 43 ​ 3 ​ 8 ​ — ​ 54 Total Revenue ​ $ 1,813 ​ 699 ​ 328 ​ 304 ​ 3,144 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended ​ ​ ​ September 30, 2021 ​ ​ ​ ​ QxH ​ QVC Int'l ​ Zulily ​ Corp and other ​ Total ​ ​ in millions ​ Home ​ $ 2,229 ​ 905 ​ 336 ​ 748 ​ 4,218 ​ Apparel ​ ​ 985 ​ 372 ​ 429 ​ 133 ​ 1,919 ​ Beauty ​ ​ 859 ​ 521 ​ 50 ​ — ​ 1,430 ​ Accessories ​ ​ 720 ​ 199 ​ 218 ​ — ​ 1,137 ​ Electronics ​ ​ 539 ​ 89 ​ 10 ​ — ​ 638 ​ Jewelry ​ ​ 269 ​ 169 ​ 37 ​ — ​ 475 ​ Other revenue ​ ​ 137 ​ 9 ​ 22 ​ — ​ 168 ​ Total Revenue ​ $ 5,738 ​ 2,264 ​ 1,102 ​ 881 ​ 9,985 ​
Performance Measures	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ ​ ​ 2022 ​ 2021 ​ ​ 2022 ​ 2021 ​ ​ ​ amounts in millions ​ ​ ​ ​ ​ ​ QxH ​ $ 143 325 ​ ​ 600 1,065 ​ QVC International ​ ​ 62 ​ 115 ​ ​ 261 ​ 402 ​ Zulily ​ (25) (17) ​ ​ (61) (2) ​ Corporate and other ​ 5 9 ​ ​ 67 65 ​ Consolidated Qurate Retail ​ $ 185 432 ​ ​ 867 1,530 ​
Other Information By Segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 ​ ​ Total assets ​ Capital expenditures ​ ​ amounts in millions QxH ​ $ 8,929 116 ​ QVC International ​ ​ 1,767 ​ 19 ​ Zulily ​ ​ 228 ​ 10 ​ Corporate and other ​ 872 26 ​ Consolidated Qurate Retail ​ $ 11,796 171 ​
Reconciliation Of Segment Adjusted OIBDA To Operating income (loss) and Earnings (Loss) From Continuing Operations Before Income Taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ September 30, ​ September 30, ​ 2022 2021 2022 2021 ​ ​ amounts in millions Adjusted OIBDA ​ $ 185 432 867 1,530 ​ Stock-based compensation ​ (15) (19) (46) (54) ​ Depreciation and amortization ​ (107) (139) (371) (396) ​ Restructuring and fire related costs, net of recoveries (including Rocky Mount inventory losses, see note 8) ​ ​ 134 ​ — ​ 28 ​ — ​ Impairment of intangible assets ​ ​ (3,081) ​ ​ ​ (3,081) ​ ​ ​ Gains (losses) on sales of fixed assets, net ​ ​ 277 ​ — ​ 520 ​ — ​ Operating income (loss) ​ $ (2,607) ​ 274 ​ (2,083) ​ 1,080 ​ Interest expense ​ (107) (121) (343) (356) ​ Share of earnings (loss) of affiliates, net ​ — (24) (1) (78) ​ Realized and unrealized gains (losses) on financial instruments, net ​ (8) 41 29 101 ​ Tax sharing income (expense) with Liberty Broadband ​ ​ 36 ​ (3) ​ 78 ​ (16) ​ Other, net ​ 37 3 83 6 ​ Earnings (loss) before income taxes ​ $ (2,649) 170 (2,237) 737 ​

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Basic of presentation
Property and equipment, net	$ 594		$ 594		$ 1,030
Deferred income tax liabilities	1,447		1,447		1,350
Retained earnings	387		387		2,925
Revision For Write off Of Fixed Assets Disposed | Revision of Prior Period, Adjustment
Basic of presentation
Property and equipment, net	(47)		(47)
Deferred income tax liabilities	(3)		(3)
Retained earnings	(44)		(44)
Liberty Media
Basic of presentation
Related Party Transaction, Amounts of Transaction	1	$ 2	$ 6	$ 8
Liberty Media | CEO
Basic of presentation
CEO compensation allocation percentage			13%
Liberty Media Corporation and Liberty Broadband Corporation
Basic of presentation
Tax sharing payable	$ 18		$ 18		$ 96

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	Jun. 03, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Stock-based compensation
Share-based Compensation Expense		$ 15	$ 19	$ 46	$ 54
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
Award vesting period				3 years
Common Class A | Qurate Retail Employees and Directors | Restricted Stock Units (RSUs)
Stock-based compensation
Award vesting period				1 year
Common Class A | Qurate Retail President and CEO | Restricted Stock Units (RSUs)
Stock-based compensation
Award vesting period				1 year
Common Class B | Qurate Retail Chairman Of Board | Restricted Stock Units (RSUs)
Stock-based compensation
Award vesting period				1 year

Stock-Based Compensation - RSUs

Stock-Based Compensation - RSUs (Details) - Restricted Stock Units (RSUs) shares in Thousands	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Common Class A
Stock-based compensation
Granted | shares	11,914
Weighted Average | $ / shares	$ 4.83
Common Class A | Qurate Retail common stock, subsidiary employees
Stock-based compensation
Granted | shares	11,101
Weighted Average | $ / shares	$ 4.82
Common Class A | Qurate Retail Employees and Directors
Stock-based compensation
Granted | shares	217
Weighted Average | $ / shares	$ 4.91
Common Class A | Qurate Retail President and CEO
Stock-based compensation
Granted | shares	596
Weighted Average | $ / shares	$ 4.91
Common Class B
Stock-based compensation
Granted | shares	327
Weighted Average | $ / shares	$ 4.95
Common Class B | Qurate Retail Chairman Of Board
Stock-based compensation
Granted | shares	327
Weighted Average | $ / shares	$ 4.95

Stock-Based Compensation - Gran

Stock-Based Compensation - Grants (Details) shares in Thousands	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Common Class A
Number of options
Outstanding at beginning of period | shares	42,110
Exercised | shares	(392)
Forfeited/Cancelled | shares	(4,705)
Outstanding at end of period | shares	37,013
Exercisable at end of period | shares	25,260
WAEP
Outstanding at beginning of period | $ / shares	$ 9.23
Exercised | $ / shares	2.26
Forfeited/Cancelled | $ / shares	10.70
Outstanding at end of period | $ / shares	9.12
Exercisable at end of period | $ / shares	$ 10.81
Additional disclosures
Weighted average remaining life - options outstanding	2 years 9 months 18 days
Weighted average remaining life - options exercisable	2 years
Common Class B
Number of options
Outstanding at beginning of period | shares	2,221
Outstanding at end of period | shares	2,221
Exercisable at end of period | shares	2,221
WAEP
Outstanding at beginning of period | $ / shares	$ 12.25
Outstanding at end of period | $ / shares	12.25
Exercisable at end of period | $ / shares	$ 12.25
Additional disclosures
Weighted average remaining life - options outstanding	1 year
Weighted average remaining life - options exercisable	1 year

Stock-Based Compensation - GDFV

Stock-Based Compensation - GDFV of RSUs (Details) - Restricted Stock Units (RSUs) shares in Thousands	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Common Class A
Number of shares
RSUs outstanding, Beginning Balance | shares	12,905
Granted | shares	11,914
Vested | shares	(3,859)
Forfeited/Cancelled | shares	(3,479)
RSUs outstanding, Ending Balance | shares	17,481
Weighted Average GDFV
RSUs Outstanding , Beginning Balance | $ / shares	$ 9.38
Granted | $ / shares	4.83
Vested | $ / shares	10.02
Forfeited/Cancelled | $ / shares	7.54
RSUs Outstanding , Ending Balance | $ / shares	$ 6.50
Common Class B
Number of shares
Granted | shares	327
RSUs outstanding, Ending Balance | shares	327
Weighted Average GDFV
Granted | $ / shares	$ 4.95
RSUs Outstanding , Ending Balance | $ / shares	$ 4.95

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Stock-based compensation
Total unrecognized compensation cost related to unvested Awards	$ 105
Weighted average period of recognition related to unvested equity awards (in years)	2 years 3 months 18 days
Common Class A
Stock-based compensation
Shares reserved for future issuance upon exercise of stock options	37,000
Common Class B
Stock-based compensation
Shares reserved for future issuance upon exercise of stock options	2,200
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	95
Restricted Stock Units (RSUs) | Common Class A
Stock-based compensation
RSUs Outstanding	17,481	12,905
RSUs/RSAs GDFV	$ 6.50	$ 9.38
Restricted Stock Units (RSUs) | Common Class B
Stock-based compensation
RSUs Outstanding	327
RSUs/RSAs GDFV	$ 4.95
Restricted Stock Units (RSUs) | 8.0% Series A Cumulative Redeemable Preferred Stock
Stock-based compensation
RSUs Outstanding	82
Incremental cost	$ 49.50
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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings (Loss) Per Common Share
Antidilutive securities	34	22	32	22
Basic WASO	381	404	380	408
Potentially dilutive shares	1	12	3	12
Diluted WASO	382	416	383	420

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	Sep. 30, 2022	Dec. 31, 2021
Recurring
Assets and liabilities measured at fair value
Cash equivalents	$ 314	$ 149
Indemnification asset	35	324
Debt	699	1,315
Recurring | Fair Value, Inputs, Level 1 [Member]
Assets and liabilities measured at fair value
Cash equivalents	314	149
Recurring | Significant Other Observable Inputs (Level 2)
Assets and liabilities measured at fair value
Indemnification asset	35	324
Debt	$ 699	$ 1,315
1.75% Exchangeable Senior Debentures due 2046
Assets and liabilities measured at fair value
Interest rate (as a percent)	1.75%

Assets and Liabilities Measur_4

Assets and Liabilities Measured at Fair Value - Realized and Unrealized Gains (Losses) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Realized and unrealized gains (losses) on financial instruments
Realized and unrealized gains (losses) on financial instruments	$ (8)	$ 41	$ 29	$ 101
Change in fair value of exchangeable senior debentures realized gain	22	(16)	246	(60)
Cumulative amount of gain in change in fair value	394		394
Equity securities
Realized and unrealized gains (losses) on financial instruments
Realized and unrealized gains (losses) on financial instruments		48	(5)	98
Exchangeable senior debentures
Realized and unrealized gains (losses) on financial instruments
Realized and unrealized gains (losses) on financial instruments	130	(50)	320	(183)
Indemnification asset
Realized and unrealized gains (losses) on financial instruments
Realized and unrealized gains (losses) on financial instruments	$ (138)	8	(287)	49
Other Financial Instruments
Realized and unrealized gains (losses) on financial instruments
Realized and unrealized gains (losses) on financial instruments		$ 35	$ 1	$ 137

Intangible Assets - Changes In

Intangible Assets - Changes In The Carrying Amount Of Goodwill (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2022 USD ($)
Changes in the carrying amount of goodwill
Balance, beginning of the year		$ 6,339
Impairments		(2,761)
Foreign currency translation adjustments		(148)
Balance, end of the year	$ 3,430	3,430
Corporate and Other
Changes in the carrying amount of goodwill
Balance, beginning of the year		12
Balance, end of the year	12	12
QxH
Changes in the carrying amount of goodwill
Balance, beginning of the year		5,228
Impairments	(2,535)	(2,535)
Balance, end of the year	2,693	2,693
Impairment of intangible assets	(180)
Accumulated goodwill impairment losses	(2,535)	(2,535)
QVC International
Changes in the carrying amount of goodwill
Balance, beginning of the year		855
Foreign currency translation adjustments		(148)
Balance, end of the year	707	707
Zulily
Changes in the carrying amount of goodwill
Balance, beginning of the year		244
Impairments	(226)	(226)
Balance, end of the year	18	18
Impairment of intangible assets	(140)
Accumulated goodwill impairment losses	$ (899)	$ (899)

Intangible Assets - Amortizatio

Intangible Assets - Amortization Expense For The Next Five Fiscal Years (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Intangible Assets
Amortization expense for intangible assets	$ 81	$ 94	$ 241	$ 261
Amortization expense for the next five years
Remainder of 2022	87		87
2023	254		254
2024	165		165
2025	79		79
2026	$ 50		$ 50

Long-Term Debt - Debt Table (De

Long-Term Debt - Debt Table (Details) - USD ($) $ in Millions	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Long-term debt
Outstanding principal	$ 6,365
Carrying value	5,906		$ 6,989
Deferred loan costs	(39)		(44)
Total consolidated debt	5,906		6,989
Less current classification	(603)		(1,315)
Total long-term debt	5,303		5,674
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	$ 354
Carrying value	176		328
Total consolidated debt	$ 176		328
Debt instrument interest rate	4%
3.75% Exchangeable Senior Debentures Due 2030
Long-term debt
Outstanding principal	$ 430
Carrying value	213		347
Total consolidated debt	$ 213		347
Debt instrument interest rate	3.75%
1.75% Exchangeable Senior Debentures due 2046
Long-term debt
Outstanding principal	$ 330
Carrying value	310		640
Total consolidated debt	$ 310		640
Debt instrument interest rate	1.75%
QVC | QVC 4.375% Senior Secured Notes due 2023
Long-term debt
Outstanding principal	$ 214
Carrying value	214		750
Total consolidated debt	$ 214		750
Debt instrument interest rate	4.375%	4.375%
QVC | QVC 4.85% Senior Secured Notes Due 2024
Long-term debt
Outstanding principal	$ 600
Carrying value	600		600
Total consolidated debt	$ 600		600
Debt instrument interest rate	4.85%
QVC | QVC 4.45% Senior Secured Notes Due 2025
Long-term debt
Outstanding principal	$ 600
Carrying value	599		599
Total consolidated debt	$ 599		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	$ 545
Carrying value	545		481
Total consolidated debt	$ 545		$ 481

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($) $ in Millions		1 Months Ended	9 Months Ended
	Oct. 27, 2021	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Long-term debt
Repayments of Long-term Debt			$ 2,577	$ 284
Amendment No. 5 QVC Bank Credit Facility | Portion of Credit Facility Available to QVC or zulily
Long-term debt
Maximum borrowing capacity	$ 3,250
Amendment No. 5 QVC Bank Credit Facility | Portion of Credit Facility Available to QVC or zulily | Alternate Base Rate | Minimum
Long-term debt
Debt Instrument, Basis Spread on Variable Rate	0.25%
Amendment No. 5 QVC Bank Credit Facility | Portion of Credit Facility Available to QVC or zulily | Alternate Base Rate | Maximum
Long-term debt
Debt Instrument, Basis Spread on Variable Rate	0.625%
Amendment No. 5 QVC Bank Credit Facility | Portion of Credit Facility Available to QVC or zulily | LIBOR | Minimum
Long-term debt
Debt Instrument, Basis Spread on Variable Rate	1.25%
Amendment No. 5 QVC Bank Credit Facility | Portion of Credit Facility Available to QVC or zulily | LIBOR | Maximum
Long-term debt
Debt Instrument, Basis Spread on Variable Rate	1.625%
Amendment No. 5 QVC Bank Credit Facility | Letter of Credit
Long-term debt
Maximum borrowing capacity	$ 450
Percentage of sub-limit	50%
1.75% Exchangeable Senior Debentures due 2046
Long-term debt
Interest rate (as a percent)			1.75%
QVC | QVC 4.375% Senior Secured Notes due 2023
Long-term debt
Interest rate (as a percent)		4.375%	4.375%
Repayments of Long-term Debt		$ 536
Loss on extinguishment of debt			$ (6)
QVC | Amendment No. 5 QVC Bank Credit Facility
Long-term debt
Interest rate (as a percent)			4.50%
Remaining borrowing capacity			$ 2,683
QVC | QVC 6.375% Senior Secured Notes Due 2067
Long-term debt
Interest rate (as a percent)			6.375%
QVC | QVC 6.25% Senior Secured Notes Due 2068
Long-term debt
Interest rate (as a percent)			6.25%

Long-Term Debt - Debt Securitie

Long-Term Debt - Debt Securities That Are Not Reported At Fair Value (Details) $ in Millions	Sep. 30, 2022 USD ($)
Senior Debentures
Long-term debt
Fair value of debt securities that are not reported at fair value	$ 547
QVC Senior Secured Notes
Long-term debt
Fair value of debt securities that are not reported at fair value	$ 3,068

Preferred Stock (Details)

Preferred Stock (Details) - 8.0% Series A Cumulative Redeemable Preferred Stock		9 Months Ended
	Sep. 14, 2020 $ / shares	Sep. 30, 2022 item shares
Preferred Stock
Preferred stock par value | $ / shares	$ 0.01
Preferred stock authorized		13,500,000
Preferred shares issued		12,671,984
Preferred shares outstanding		12,671,984
Preferred Stock, Dividend Rate, Percentage	8%
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%

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
Unusual or Infrequent Item, or Both [Line Items]
Gain on restructuring and fire-related costs, net of recoveries	$ 134	$ 123
Zulily | Facility Closing
Unusual or Infrequent Item, or Both [Line Items]
Restructuring charges	3	8
Severance Costs		3
Natural Disasters and Other Casualty Events | QVC
Unusual or Infrequent Item, or Both [Line Items]
Fire related costs		147	$ 250
Insurance recoveries			229
Insurance receivable		47
Loss on inventory		95
Insurance recoveries received		280	100
Insurance receivable	$ 35	35	$ 129
Gain on restructuring and fire-related costs, net of recoveries		$ 139

Commitments and Contingencies -

Commitments and Contingencies - Lease (Details) € in Millions, £ in Millions, $ in Millions			1 Months Ended	3 Months Ended		6 Months Ended	9 Months Ended
	Nov. 03, 2022 GBP (£)	Nov. 02, 2022 EUR (€) item property	Jul. 31, 2022 USD ($) item property	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)
Leases
Right of use asset				$ 207			$ 207
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]				Other Assets, Noncurrent			Other Assets, Noncurrent
Operating lease liability				$ 205			$ 205
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]				Other Liabilities, Noncurrent			Other Liabilities, Noncurrent
Proceeds from sale of fixed assets							$ 701	$ 40
QVC
Leases
Initial term of lease (in years)		20 years	20 years
Maximum number of consecutive terms eligible for extension | item		4	4
Renewal term		5 years	5 years
Sale Leaseback gain				$ 277			277
Number Of Properties Sold | property		2	5
Proceeds from sale of fixed assets			$ 443
QVC | New Lease
Leases
Sale Leaseback gain					$ 240	$ 240
Debt forgiveness							84
Right of use asset				$ 37			$ 37
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]				Other Assets, Noncurrent			Other Assets, Noncurrent
Operating lease liability				$ 31			$ 31
QVC | German Facility
Leases
Proceeds from sale of fixed assets | €		€ 97
QVC | United Kingdom Facility
Leases
Proceeds from sale of fixed assets | £	£ 68

Information About Qurate Reta_3

Information About Qurate Retail's Operating Segments - Revenue Disaggregation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Total revenue, net	$ 2,744	$ 3,144	$ 8,580	$ 9,985
Home
Segment Reporting Information [Line Items]
Total revenue, net	1,165	1,302	3,671	4,218
Apparel
Segment Reporting Information [Line Items]
Total revenue, net	553	633	1,721	1,919
Beauty
Segment Reporting Information [Line Items]
Total revenue, net	390	458	1,215	1,430
Accessories
Segment Reporting Information [Line Items]
Total revenue, net	286	338	940	1,137
Electronics
Segment Reporting Information [Line Items]
Total revenue, net	174	198	487	638
Jewelry
Segment Reporting Information [Line Items]
Total revenue, net	124	161	393	475
Other revenue
Segment Reporting Information [Line Items]
Total revenue, net	52	54	153	168
Operating Segments | QxH
Segment Reporting Information [Line Items]
Total revenue, net	1,663	1,813	5,101	5,738
Operating Segments | QxH | Home
Segment Reporting Information [Line Items]
Total revenue, net	621	679	1,950	2,229
Operating Segments | QxH | Apparel
Segment Reporting Information [Line Items]
Total revenue, net	330	336	982	985
Operating Segments | QxH | Beauty
Segment Reporting Information [Line Items]
Total revenue, net	252	279	766	859
Operating Segments | QxH | Accessories
Segment Reporting Information [Line Items]
Total revenue, net	190	210	633	720
Operating Segments | QxH | Electronics
Segment Reporting Information [Line Items]
Total revenue, net	152	171	411	539
Operating Segments | QxH | Jewelry
Segment Reporting Information [Line Items]
Total revenue, net	73	95	231	269
Operating Segments | QxH | Other revenue
Segment Reporting Information [Line Items]
Total revenue, net	45	43	128	137
Operating Segments | QVC International
Segment Reporting Information [Line Items]
Total revenue, net	554	699	1,862	2,264
Operating Segments | QVC International | Home
Segment Reporting Information [Line Items]
Total revenue, net	208	272	729	905
Operating Segments | QVC International | Apparel
Segment Reporting Information [Line Items]
Total revenue, net	100	119	334	372
Operating Segments | QVC International | Beauty
Segment Reporting Information [Line Items]
Total revenue, net	129	164	419	521
Operating Segments | QVC International | Accessories
Segment Reporting Information [Line Items]
Total revenue, net	49	62	162	199
Operating Segments | QVC International | Electronics
Segment Reporting Information [Line Items]
Total revenue, net	20	24	71	89
Operating Segments | QVC International | Jewelry
Segment Reporting Information [Line Items]
Total revenue, net	45	55	139	169
Operating Segments | QVC International | Other revenue
Segment Reporting Information [Line Items]
Total revenue, net	3	3	8	9
Operating Segments | Zulily
Segment Reporting Information [Line Items]
Total revenue, net	200	328	652	1,102
Operating Segments | Zulily | Home
Segment Reporting Information [Line Items]
Total revenue, net	53	93	167	336
Operating Segments | Zulily | Apparel
Segment Reporting Information [Line Items]
Total revenue, net	79	132	265	429
Operating Segments | Zulily | Beauty
Segment Reporting Information [Line Items]
Total revenue, net	9	15	30	50
Operating Segments | Zulily | Accessories
Segment Reporting Information [Line Items]
Total revenue, net	47	66	145	218
Operating Segments | Zulily | Electronics
Segment Reporting Information [Line Items]
Total revenue, net	2	3	5	10
Operating Segments | Zulily | Jewelry
Segment Reporting Information [Line Items]
Total revenue, net	6	11	23	37
Operating Segments | Zulily | Other revenue
Segment Reporting Information [Line Items]
Total revenue, net	4	8	17	22
Corporate and Other
Segment Reporting Information [Line Items]
Total revenue, net	327	304	965	881
Corporate and Other | Home
Segment Reporting Information [Line Items]
Total revenue, net	283	258	825	748
Corporate and Other | Apparel
Segment Reporting Information [Line Items]
Total revenue, net	$ 44	$ 46	$ 140	$ 133

Information About Qurate Reta_4

Information About Qurate Retail's Operating Segments - Performance Measures By Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Information about Qurate Retail's operating segments
Adjusted OIBDA	$ 185	$ 432	$ 867	$ 1,530
Corporate and Other
Information about Qurate Retail's operating segments
Adjusted OIBDA	5	9	67	65
QxH | Operating Segments
Information about Qurate Retail's operating segments
Adjusted OIBDA	143	325	600	1,065
QVC International | Operating Segments
Information about Qurate Retail's operating segments
Adjusted OIBDA	62	115	261	402
Zulily | Operating Segments
Information about Qurate Retail's operating segments
Adjusted OIBDA	$ (25)	$ (17)	$ (61)	$ (2)

Information About Qurate Reta_5

Information About Qurate Retail's Operating Segments - Other Information By Segment (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Information about Qurate Retail's operating segments
Total assets	$ 11,796		$ 16,202
Capital expenditures	171	$ 169
Operating Segments | QxH
Information about Qurate Retail's operating segments
Total assets	8,929
Capital expenditures	116
Operating Segments | QVC International
Information about Qurate Retail's operating segments
Total assets	1,767
Capital expenditures	19
Operating Segments | Zulily
Information about Qurate Retail's operating segments
Total assets	228
Capital expenditures	10
Corporate and Other
Information about Qurate Retail's operating segments
Total assets	872
Capital expenditures	$ 26

Information About Qurate Reta_6

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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Information About Qurate Retail's Operating Segments
Adjusted OIBDA	$ 185	$ 432	$ 867	$ 1,530
Stock-based compensation	(15)	(19)	(46)	(54)
Depreciation and amortization	(107)	(139)	(371)	(396)
Restructuring and fire related costs, net (including Rocky Mount inventory losses, see note 8)	134		28
Impairment of intangible assets	(3,081)		(3,081)
Gains (losses) on sales of fixed assets, net	277		520
Operating income (loss)	(2,607)	274	(2,083)	1,080
Interest expense	(107)	(121)	(343)	(356)
Share of earnings (losses) of affiliates, net		(24)	(1)	(78)
Realized and unrealized gains (losses) on financial instruments	(8)	41	29	101
Tax sharing income (expense) with Liberty Broadband	36	(3)	78	(16)
Other, net	37	3	83	6
Earnings (loss) before income taxes	$ (2,649)	$ 170	$ (2,237)	$ 737