QVCAQ · As filed with the SEC

Old QVC Group cash flow statement, by quarter

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.

Condensed Consolidated Statements of Cash Flows · USD millions

USD millions	Q2 2026^† 3 months ended Jun 30, 2026	Q1 2026 3 months ended Mar 31, 2026	Q4 2025^† 3 months ended Dec 31, 2025	Q3 2025^† 3 months ended Sep 30, 2025	Q2 2025^† 3 months ended Jun 30, 2025	Q1 2025 3 months ended Mar 31, 2025	Q4 2024^† 3 months ended Dec 31, 2024	Q3 2024^† 3 months ended Sep 30, 2024
Cash flows from operating activities:
Net earnings (loss)	(30)^†	(40)	(25)^†	(73)^†	(2,209)^†	(91)	(1,275)^†	(15)^†
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation and amortization	79^†	80	88^†	103^†	105^†	102	93^†	95^†
Impairment of goodwill and intangible assets	—	—	—	0^†	—	—	—	—
Realized and unrealized (gains) losses on financial instruments, net	(8)^†	(79)	(3)^†	7^†	21^†	15	7^†	36^†
Non-cash interest expense	6^†	34	—	—	2^†	—	—	—
(Gain) loss on sale of assets	0^†	(10)	(5)^†	0^†	0^†	—	0^†	0^†
Deferred income tax expense (benefit)	16^†	(5)	4^†	5^†	(234)^†	(5)	(125)^†	(26)^†
Stock-based compensation	0^†	0	1^†	7^†	4^†	4	10^†	3^†
Other, net	(4)^†	(5)	(5)^†	(4)^†	13^†	5	(17)^†	5^†
Changes in operating assets and liabilities
Decrease (increase) in trade and other receivables	—	—	—	—	—	296,000,000	—	—
Decrease (increase) in trade and other receivables	81^†	262	(200)^†	(23)^†	31^†	—	(267)^†	—
Decrease (increase) in inventories	54^†	(37)	217^†	1^†	9^†	(115)	221^†	(165)^†
Decrease (increase) in prepaid expenses and other assets	—	—	—	—	(4)^†	41	(4)^†	32^†
Decrease (increase) in other assets	(28)^†	8	—	14^†	(4)^†	—	—	—
(Decrease) increase in accounts payable	(39)^†	(219)	46^†	14^†	(40)^†	(109)	(45)^†	63^†
(Decrease) increase in accrued and other liabilities	10^†	(178)	(57)^†	(43)^†	(3)^†	(203)	127^†	(24)^†
Net cash provided (used) by operating activities	132^†	(189)	244^†	4^†	86^†	(60)	212^†	20^†
Cash flows from investing activities:
Capital expenditures	(37)^†	(36)	(53)^†	(31)^†	(38)^†	(34)	(62)^†	(43)^†
Expenditures for television distribution rights	(9)^†	(6)	(4)^†	(1)^†	(45)^†	(43)	(14)^†	(10)^†
Proceeds from sale of fixed assets	0^†	12	12^†	0^†	0^†	—	0^†	0^†
Cash proceeds from dispositions of investments	—	—	0^†	—	—	—	0^†	1^†
Other investing activities, net	0^†	1	3^†	(4)^†	(6)^†	(1)	0^†	1^†
Net cash provided (used) by investing activities	(46)^†	(29)	(42)^†	(36)^†	(89)^†	(78)	(76)^†	(51)^†
Cash flows from financing activities:
Repayments of debt	0^†	(7)	(2)^†	0^†	(71)^†	(797)	(205)^†	(533)^†
Dividends paid to noncontrolling interest	(8)^†	(8)	(22)^†	0^†	(11)^†	(11)	0^†	(29)^†
Borrowings of debt	0^†	0	0^†	975^†	145^†	866	119^†	235^†
Dividends paid to common shareholders	0^†	0	0^†	0^†	0^†	(1)	0^†	0^†
Other financing activities, net	(5)^†	(2)	(4)^†	(1)^†	0^†	(2)	2^†	0^†
Net cash provided (used) by financing activities	(13)^†	(17)	(28)^†	974^†	63^†	55	(86)^†	(327)^†
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash	(4)^†	(7)	(5)^†	(5)^†	15^†	12	(17)^†	23^†
Net increase (decrease) in cash, cash equivalents and restricted cash	69^†	(242)	169^†	937^†	75^†	(71)	33^†	(335)^†
Cash, cash equivalents and restricted cash at beginning of period	1,791	2,033	1,864	927	852	923	890	1,225
Cash, cash equivalents and restricted cash at end of period	1,860	1,791	2,033	1,864	927	852	923	890

† Derived: worked out from the filings, not stated in them. A fourth quarter is the 10-K year less the nine months in the third-quarter 10-Q; a quarter of cash flows is year to date less the prior year to date.

As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.

Data on this page was fetched Nov 5, 2026, 8:45 PM ET. The filing on SEC.gov is the record.