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
Cash flows from operating activities:
Net earnings (loss)	(30)^†	(40)	(25)^†	(73)^†
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation and amortization	79^†	80	88^†	103^†
Impairment of goodwill and intangible assets	—	—	—	0^†
Realized and unrealized (gains) losses on financial instruments, net	(8)^†	(79)	(3)^†	7^†
Non-cash interest expense	6^†	34	—	—
(Gain) loss on sale of assets	0^†	(10)	(5)^†	0^†
Deferred income tax expense (benefit)	16^†	(5)	4^†	5^†
Stock-based compensation	0^†	0	1^†	7^†
Other, net	(4)^†	(5)	(5)^†	(4)^†
Changes in operating assets and liabilities
Decrease (increase) in trade and other receivables	81^†	262	(200)^†	(23)^†
Decrease (increase) in inventories	54^†	(37)	217^†	1^†
Decrease (increase) in other assets	(28)^†	8	—	14^†
(Decrease) increase in accounts payable	(39)^†	(219)	46^†	14^†
(Decrease) increase in accrued and other liabilities	10^†	(178)	(57)^†	(43)^†
Net cash provided (used) by operating activities	132^†	(189)	244^†	4^†
Cash flows from investing activities:
Capital expenditures	(37)^†	(36)	(53)^†	(31)^†
Expenditures for television distribution rights	(9)^†	(6)	(4)^†	(1)^†
Proceeds from sale of fixed assets	0^†	12	12^†	0^†
Cash proceeds from dispositions of investments	—	—	0^†	—
Other investing activities, net	0^†	1	3^†	(4)^†
Net cash provided (used) by investing activities	(46)^†	(29)	(42)^†	(36)^†
Cash flows from financing activities:
Repayments of debt	0^†	(7)	(2)^†	0^†
Dividends paid to noncontrolling interest	(8)^†	(8)	(22)^†	0^†
Borrowings of debt	0^†	0	0^†	975^†
Dividends paid to common shareholders	0^†	0	0^†	0^†
Other financing activities, net	(5)^†	(2)	(4)^†	(1)^†
Net cash provided (used) by financing activities	(13)^†	(17)	(28)^†	974^†
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash	(4)^†	(7)	(5)^†	(5)^†
Net increase (decrease) in cash, cash equivalents and restricted cash	69^†	(242)	169^†	937^†
Cash, cash equivalents and restricted cash at beginning of period	1,791	2,033	1,864	927
Cash, cash equivalents and restricted cash at end of period	1,860	1,791	2,033	1,864

† 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.