QVCAQ · As filed with the SEC
Old QVC Group cash flow statement, by fiscal year
The statement as Old QVC Group presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
Consolidated Statements Of Cash Flows · USD millions
| USD millions | FY2025 Year ended Dec 31, 2025 | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 | FY2021 Year ended Dec 31, 2021 | FY2020 Year ended Dec 31, 2020 | FY2019 Year ended Dec 31, 2019 | FY2018 Year ended Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||
| Net earnings (loss) | (2,398) | (1,250) | (94) | (2,532) | 421 | 1,262 | (405) | 964 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | ||||||||
| (Earnings) loss from discontinued operations | — | — | — | — | — | — | — | (141,000,000) |
| Depreciation and amortization | 398 | 383 | 407 | 481 | 537 | 562 | 606 | 637 |
| Stock-based compensation | — | — | — | — | — | — | — | 88,000,000 |
| Impairment of intangible assets | — | — | — | — | — | — | 1,167,000,000 | — |
| Impairment of intangible assets | — | 1,480,000,000 | 326,000,000 | 3,081,000,000 | 363,000,000 | — | — | — |
| Impairment of intangible assets | 930 | — | — | — | — | — | — | — |
| Impairment of goodwill | 1,477 | — | — | — | — | — | — | — |
| Stock-based compensation | 16 | 32 | 53 | 60 | 72 | 64 | 71 | — |
| Noncash interest expense | 101 | 7 | 9 | 10 | 10 | 7 | 5 | 6 |
| Share of (earnings) losses of affiliates, net | — | — | — | 1,000,000 | 94,000,000 | 156,000,000 | 160,000,000 | 162,000,000 |
| Realized and unrealized (gains) losses on financial instruments, net | 40 | 60 | 61 | (41) | (99) | 110 | 251 | (76) |
| (Gains) losses on sale leaseback transactions | — | — | — | (520,000,000) | — | — | — | — |
| (Gains) losses on transactions, net | — | — | — | — | (10,000,000) | (224,000,000) | 1,000,000 | (1,000,000) |
| Gains on sales of assets and sale leaseback transactions | (5) | (1) | (113) | — | — | — | — | — |
| Gain on insurance proceeds, net of fire related costs | — | — | (225,000,000) | (132,000,000) | — | — | — | — |
| (Gains) losses on extinguishment of debt | — | — | — | (8,000,000) | 1,000,000 | 40,000,000 | (1,000,000) | 24,000,000 |
| Deferred income tax expense (benefit) | (230) | (211) | 80 | 12 | (4) | (356) | (243) | (185) |
| Gain on insurance proceeds, net of fire related costs | 0 | — | — | — | — | — | — | — |
| Insurance proceeds received for inventory, operating expenses and business interruption losses | 0 | — | 226 | 96 | 100 | — | — | — |
| Loss on disposition of Zulily, net | 0 | — | 64 | — | — | — | — | — |
| Other, net | 3 | (6) | 15 | (45) | 22 | 8 | 9 | 36 |
| Changes in operating assets and liabilities | ||||||||
| Current and other assets | — | — | — | — | — | — | 59,000,000 | (27,000,000) |
| Payables and other liabilities | — | — | — | — | — | — | (396,000,000) | (214,000,000) |
| Decrease (increase) in accounts receivable | — | 144,000,000 | 36,000,000 | 124,000,000 | 27,000,000 | 232,000,000 | — | — |
| Decrease (increase) in trade and other receivables | 104 | — | — | — | — | — | — | — |
| Decrease (increase) in inventories | 112 | (28) | 257 | 254 | (440) | 133 | — | — |
| Decrease (increase) in prepaid expenses and other assets | 121 | 67 | 68 | 102 | 76 | 39 | — | — |
| (Decrease) increase in trade accounts payable | (89) | (104) | (34) | (446) | 147 | 185 | — | — |
| (Decrease) increase in accrued and other liabilities | (306) | (48) | (217) | (303) | (92) | 237 | — | — |
| Net cash provided (used) by operating activities | 274 | 525 | 919 | 194 | 1,225 | 2,455 | 1,284 | 1,273 |
| Cash flows from investing activities: | ||||||||
| Cash proceeds from dispositions of investments | — | — | — | — | — | — | — | 562,000,000 |
| Capital expenditures | (156) | (199) | (230) | (268) | (244) | (257) | (325) | (275) |
| Cash paid for disposal of Zulily | — | — | (41,000,000) | — | — | — | — | — |
| Expenditures for television distribution rights | — | — | (113,000,000) | (45,000,000) | (187,000,000) | (56,000,000) | (134,000,000) | — |
| Expenditures for television distribution rights | (93) | (37) | — | — | — | — | — | — |
| Proceeds from sale of fixed assets | 12 | 6 | 208 | 704 | 54 | — | — | — |
| Cash proceeds from dispositions of investments | 0 | 7 | 71 | 13 | 81 | 271 | — | — |
| Investment in and loans to cost and equity investees | — | — | — | (7,000,000) | (202,000,000) | (119,000,000) | (141,000,000) | (100,000,000) |
| Cash paid for disposal of Zulily | 0 | — | — | — | — | — | — | — |
| Insurance proceeds received for fixed asset loss | 0 | — | 54 | 184 | — | — | — | — |
| Payments for settlements of financial instruments | 0 | — | (179) | — | — | — | — | — |
| Payments from settlements of financial instruments | 0 | — | 167 | — | — | — | — | — |
| Other investing activities, net | (8) | (2) | 9 | 20 | (3) | — | — | (140) |
| Net cash provided (used) by investing activities | (245) | (225) | (54) | 601 | (501) | (161) | (600) | 47 |
| Cash flows from financing activities: | ||||||||
| Borrowings of debt | 1,986 | 2,014 | 1,267 | 3,029 | 1,037 | 1,300 | 3,161 | 4,221 |
| Repayments of debt | (870) | (2,454) | (2,258) | (3,008) | (594) | (2,079) | (3,274) | (4,395) |
| Repurchases of Qurate Retail common stock | — | — | — | — | (365,000,000) | (70,000,000) | (392,000,000) | (988,000,000) |
| GCI Liberty Split-Off | — | — | — | — | — | — | — | (475,000,000) |
| Withholding taxes on net share settlements of stock-based compensation | — | — | — | — | — | (7,000,000) | (7,000,000) | (29,000,000) |
| Withholding taxes on net share settlements of stock-based compensation | — | (2,000,000) | (1,000,000) | (7,000,000) | (29,000,000) | — | — | — |
| Payments for issuances of financial instruments | — | — | — | — | (694,000,000) | — | — | — |
| Proceeds from settlements of financial instruments | — | — | — | — | 311,000,000 | — | — | — |
| Dividends paid to noncontrolling interest | (44) | (51) | (53) | (68) | (60) | (62) | — | — |
| Dividends paid to common and preferred shareholders | — | — | — | — | — | (1,251,000,000) | — | — |
| Dividends paid to common shareholders | (1) | (4) | (8) | (12) | (503) | — | — | — |
| Indemnification agreement settlement | — | — | 45,000,000 | — | — | — | — | 133,000,000 |
| Indemnification agreement settlement | 0 | — | — | — | — | — | — | — |
| Other financing activities, net | (7) | (1) | (2) | (6) | (17) | (12) | (149) | (41) |
| Net cash provided (used) by financing activities | 1,064 | (498) | (1,010) | (72) | (914) | (2,181) | (661) | (1,574) |
| Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash | — | — | — | — | (28,000,000) | 20,000,000 | (2,000,000) | 2,000,000 |
| Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash | 17 | (15) | (4) | (34) | — | — | — | — |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 1,110 | (213) | (149) | 689 | (218) | 133 | 21 | (252) |
| Cash, cash equivalents and restricted cash at beginning of year | 923 | 1,136 | 1,285 | 596 | 814 | 681 | 660 | 912 |
| Cash, cash equivalents and restricted cash at end of year | 2,033 | 923 | 1,136 | 1,285 | 596 | 814 | 681 | 660 |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.