\n| \n Total QVC Group Revenue<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 3,143<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 2,944<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n (6<\/b><\/p>\n<\/td>\n | \n )%<\/b><\/p>\n<\/td>\n | | \n\n (6<\/b><\/p>\n<\/td>\n | \n )<\/b>%<\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Operating Income (Loss)<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nQxH(b)<\/sup><\/p>\n<\/td>\n | \n\n \n$<\/p>\n<\/td>\n | \n \n(193<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n(1,352<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \nNM<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nQVC International<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n80<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n98<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n23<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n23<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCornerstone<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n18<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(4<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \nNM<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnallocated corporate cost<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(8<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(13<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n(63<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total QVC Group Operating Income (Loss)<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (103<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (1,271<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n NM<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n NM<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted OIBDA (Loss)<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nQxH(b)<\/sup><\/p>\n<\/td>\n | \n\n \n$<\/p>\n<\/td>\n | \n \n221<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n204<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n(8<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nQVC International<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n99<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n111<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n12<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n12<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCornerstone<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n27<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n(81<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnallocated corporate cost<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(7<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(8<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n(14<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total QVC Group Adjusted OIBDA<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 340<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 312<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n (8<\/b><\/p>\n<\/td>\n | \n )%<\/b><\/p>\n<\/td>\n | | \n\n (8<\/b><\/p>\n<\/td>\n | \n )<\/b>%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n| ____________________<\/td>\n<\/tr>\n | \n| \n \na)<\/p>\n<\/td>\n | | \n\n \nFor a definition of constant currency financial metrics, see the accompanying schedules.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nb)<\/p>\n<\/td>\n | | \n\n \nIn the fourth quarter of 2023, QxH incurred a $326 million non-cash impairment charge related to goodwill. In the fourth quarter of 2024, QxH incurred a $1.5 billion non-cash impairment charge related to goodwill and tradenames. These charges are included in operating income and excluded from Adjusted OIBDA. See reconciling schedule 2.<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\n| \n FULL YEAR 2024 FINANCIAL RESULTS<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n (amounts in millions)<\/i><\/p>\n<\/td>\n | | \n\n \n2023<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n2024<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n% Change<\/p>\n<\/td>\n | | \n\n \n% Change
\n
Constant
\n
Currency(a)<\/sup><\/p>\n<\/td>\n<\/tr>\n\n| \n Revenue<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nQxH<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n6,995<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n6,598<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n(6<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nQVC International<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,454<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,399<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n(2<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n\u2014<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCornerstone<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,165<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,040<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n(11<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total QVC Group Revenue (excluding Zulily)<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 10,614<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 10,037<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n (5<\/b><\/p>\n<\/td>\n | \n )%<\/b><\/p>\n<\/td>\n | | \n\n (5<\/b><\/p>\n<\/td>\n | \n )<\/b>%<\/p>\n<\/td>\n<\/tr>\n\n| \n \nZulily(b)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n301<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \nNM<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total QVC Group Revenue (as reported)<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 10,915<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 10,037<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n (8<\/b><\/p>\n<\/td>\n | \n )%<\/b><\/p>\n<\/td>\n | | \n\n (8<\/b><\/p>\n<\/td>\n | \n )<\/b>%<\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Operating Income (Loss)<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nQxH(c)<\/sup><\/p>\n<\/td>\n | \n\n \n$<\/p>\n<\/td>\n | \n \n275<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n(1,045<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \nNM<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nQVC International(d)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n370<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n275<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n(26<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n(23<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCornerstone(e)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n35<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n(94<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnallocated corporate cost<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(33<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(41<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n(24<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total QVC Group Operating Income (Loss) (excluding Zulily)<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 647<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (809<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n NM<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n NM<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nZulily(b)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(57<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \nNM<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total QVC Group Operating Income (Loss) (as reported)<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 590<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (809<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n NM<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n NM<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted OIBDA (Loss)<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nQxH(c)<\/sup><\/p>\n<\/td>\n | \n\n \n$<\/p>\n<\/td>\n | \n \n746<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n765<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n3<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nQVC International(d)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n325<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n333<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCornerstone(e)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n67<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n36<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n(46<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnallocated corporate cost<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(23<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(31<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n(35<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total QVC Group Adjusted OIBDA (excluding Zulily)<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 1,115<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 1,103<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n (1<\/b><\/p>\n<\/td>\n | \n )%<\/b><\/p>\n<\/td>\n | | \n\n \n\u2014<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nZulily(b)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(41<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \nNM<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total QVC Group Adjusted OIBDA (as reported)<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 1,074<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 1,103<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n 3<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | | \n\n 4<\/b><\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| ____________________<\/td>\n<\/tr>\n | \n| \n \na)<\/p>\n<\/td>\n | | \n\n \nFor a definition of constant currency financial metrics, see the accompanying schedules.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nb)<\/p>\n<\/td>\n | | \n\n \nZulily was divested on May 24, 2023. For the year ended December 31, 2023, Zulily recorded $5 million in restructuring charges. These items are included in operating income and excluded from Adjusted OIBDA.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nc)<\/p>\n<\/td>\n | | \n\n \nFor the year ended December 31, 2023, QxH incurred (i) a $326 million non-cash impairment charge related to goodwill, (ii) a $208 million net gain on insurance proceeds representing insurance proceeds received in excess of fire losses, (iii) $13 million of restructuring costs related to workforce reduction, (iv) a $17 million gain on the sale of the Rocky Mount, NC fulfillment center (\u201cRocky Mount\u201d) and (v) $16 million of penalties. For the year ended December 31, 2024, QxH incurred (i) a $1.5 billion non-cash impairment charge related to goodwill and tradenames and (ii) $10 million of restructuring charges related to a plan to shift its information technology operating model. These items are included in operating income and excluded from Adjusted OIBDA. See reconciling schedule 2.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nd)<\/p>\n<\/td>\n | | \n\n \nFor the year ended December 31, 2023, QVC International incurred $113 million of gains related to the sale leaseback of its UK and German fulfillment centers partially offset by $17 million in restructuring charges. For the year ended December 31, 2024, QVC International recorded $8 million of restructuring charges related to a plan to shift its information technology operating model, partially offset by a $1 million gain related to the sale leaseback of a German property. These items are included in operating income and excluded from Adjusted OIBDA. See reconciling schedule 2.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \ne)<\/p>\n<\/td>\n | | \n\n \nFor the year ended December 31, 2023, Cornerstone recorded $2 million in restructuring charges related to a workforce reduction which are included in operating income and excluded from Adjusted OIBDA. See reconciling schedule 2.<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n QxH<\/b><\/p>\n \nQxH revenue declined in the fourth quarter and full year primarily due to lower units shipped, which decreased 5% in both periods, as well as lower average selling price and shipping and handling revenue. These factors were partially offset by favorable returns in both periods. QxH grew apparel with declines in all other categories in the fourth quarter and reported declines in all categories for the full year.<\/p>\n \nOperating loss in the fourth quarter and full year was primarily driven by a $1.5 billion non-cash impairment charge related to goodwill and tradenames. For the fourth quarter and full year 2024, Adjusted OIBDA margin(4)<\/sup> increased mainly due to higher product margins and favorable operating costs and selling, general and administrative expenses. These gains were partially offset by fulfillment (warehouse and freight) pressure in the fourth quarter and sales deleverage in both periods. Product margins increased due to higher initial margins driven by Project Athens initiatives. Fulfillment margin pressure in the quarter was due to higher freight rates and fulfillment center wages. Operating expenses decreased 11% in the fourth quarter and 7% in the full year due to lower commissions. Selling, general and administrative expenses declined 10% in the quarter and 4% in the full year due to lower personnel and outside services costs. For the full year, lower selling, general and administrative expense was partially offset by higher marketing costs to support QVC\u2019s Age of Possibility campaign.<\/p>\nQVC International<\/b><\/p>\n \nExchange rate fluctuations were neutral on fourth quarter results and negatively impacted full year 2024 results. For the full year, the US Dollar strengthened 7% against the Japanese Yen, partially offset by weakening 3% against the British Pound. The financial metrics presented in this press release also provide a comparison of the percentage change in QVC International\u2019s results in constant currency (where applicable) to the comparable figures calculated in accordance with US GAAP for the fourth quarter and full year 2024.<\/p>\n \nQVC International\u2019s constant currency revenue was flat for the fourth quarter and full year with a 1% and 3% increase in units shipped, respectively, offset by a 2% and 3% decline in average selling price, respectively. QVC International reported growth in home, accessories and apparel with a decline in beauty in the fourth quarter. For the full year, QVC International experienced constant currency growth in home, accessories, electronics and jewelry with a decline in beauty and apparel.<\/p>\n \nOperating margin increased in the fourth quarter and decreased for the full year and Adjusted OIBDA margin increased in both periods. Operating income decreased for the full year primarily as a result of comparing against $113 million of gains related to the sale and leaseback of UK and German fulfillment centers recorded in the first quarter of 2023. For both periods, QVC International reported higher product margins and favorable selling, general and administrative expenses, partially offset by fulfillment pressure. Product margins increased due to favorable returns and vendor negotiations. Administrative costs declined due to lower outside services and personnel costs. Fulfillment pressure was mainly attributable to higher freight rates and fulfillment center wages, as well as increased units shipped.<\/p>\n Cornerstone<\/b><\/p>\n \nCornerstone revenue decreased in the fourth quarter and full year, reflecting softness and competitive promotional pressure in the home sector. Cornerstone is implementing a transformation plan to improve its revenue and profitability given the continued challenges in the housing sector. Operating income and Adjusted OIBDA margin decreased for the fourth quarter and full year due to costs for outside services related to its transformation plan, higher personnel expenses, and sales deleverage.<\/p>\n \n\n| \n FOURTH QUARTER 2024 SUPPLEMENTAL METRICS<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n (amounts in millions unless otherwise noted)<\/i><\/p>\n<\/td>\n | | \n\n \n4Q23<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n4Q24<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n% Change<\/p>\n<\/td>\n | | \n\n \n% Change
\n
Constant
\n
Currency(a)<\/sup><\/p>\n<\/td>\n<\/tr>\n\n| \n QxH<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCost of Goods Sold % of Revenue<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n68.4<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n68.8<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n40<\/p>\n<\/td>\n | \n \nbps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOperating Income Margin (%)(b)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(8.9<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(68.3<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \nNM<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdjusted OIBDA Margin (%)(b)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n10.2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n10.3<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n10<\/p>\n<\/td>\n | \n \nbps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAverage Selling Price<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n55.76<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n53.82<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n(3<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnits Sold<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n(5<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nReturn Rate(c)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n13.9<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n13.5<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n(40<\/p>\n<\/td>\n | \n \n) bps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \neCommerce Revenue(d)<\/sup><\/p>\n<\/td>\n | \n\n \n$<\/p>\n<\/td>\n | \n \n1,392<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n1,314<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n(6<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \neCommerce % of Total Revenue<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n64.5<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n66.4<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n190<\/p>\n<\/td>\n | \n \nbps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nMobile % of eCommerce Revenue(e)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n70.1<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n71.4<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n130<\/p>\n<\/td>\n | \n \nbps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n QVC International<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCost of Goods Sold % of Revenue<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n63.0<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n63.2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n20<\/p>\n<\/td>\n | \n \nbps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOperating Income Margin (%)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n11.8<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n14.4<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n260<\/p>\n<\/td>\n | \n \nbps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdjusted OIBDA Margin (%)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n14.6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n16.3<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n170<\/p>\n<\/td>\n | \n \nbps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAverage Selling Price<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n(2<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n(2<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnits Sold<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n1<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nReturn Rate(c)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n18.1<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n17.5<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n(60<\/p>\n<\/td>\n | \n \n) bps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \neCommerce Revenue(d)<\/sup><\/p>\n<\/td>\n | \n\n \n$<\/p>\n<\/td>\n | \n \n359<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n366<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \neCommerce % of Total Revenue<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n52.9<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n53.8<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n90<\/p>\n<\/td>\n | \n \nbps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nMobile % of eCommerce Revenue(e)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n70.5<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n76.8<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n630<\/p>\n<\/td>\n | \n \nbps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Cornerstone<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCost of Goods Sold % of Revenue<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n59.0<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n60.6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n160<\/p>\n<\/td>\n | \n \nbps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOperating Income Margin (%)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n5.9<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(1.4<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \nNM<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdjusted OIBDA Margin (%)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n8.9<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1.8<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n(710<\/p>\n<\/td>\n | \n \n) bps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \neCommerce Revenue(d)<\/sup><\/p>\n<\/td>\n | \n\n \n$<\/p>\n<\/td>\n | \n \n245<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n225<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n(8<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \neCommerce % of Total Revenue<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n80.3<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n79.2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n(110<\/p>\n<\/td>\n | \n \n) bps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| ____________________<\/td>\n<\/tr>\n | \n| \n \na)<\/p>\n<\/td>\n | | \n\n \nFor a definition of constant currency financial metrics, see the accompanying schedules.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nb)<\/p>\n<\/td>\n | | \n\n \nIn the fourth quarter of 2023, QxH incurred a $326 million non-cash impairment charge related to goodwill. In the fourth quarter of 2024, QxH incurred a $1.5 billion non-cash impairment charge related to goodwill and tradenames. These charges are included in operating income and excluded from Adjusted OIBDA. See reconciling schedule 2.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nc)<\/p>\n<\/td>\n | | \n\n \nMeasured as returned sales over gross shipped sales in US Dollars.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nd)<\/p>\n<\/td>\n | | \n\n \nBased on net revenue.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \ne)<\/p>\n<\/td>\n | | \n\n \nBased on gross US Dollar orders.<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\n| \n FULL YEAR 2024 SUPPLEMENTAL METRICS<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n (amounts in millions unless otherwise noted)<\/i><\/p>\n<\/td>\n | | \n\n \n2023<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n2024<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n% Change<\/p>\n<\/td>\n | | \n\n \n% Change
\n
Constant
\n
Currency(a)<\/sup><\/p>\n<\/td>\n<\/tr>\n\n| \n QxH<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCost of Goods Sold % of Revenue<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n67.3<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n66.3<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n(100<\/p>\n<\/td>\n | \n \n) bps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOperating Income Margin (%)(b)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n3.9<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(15.8<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \nNM<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdjusted OIBDA Margin (%)(b)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n10.7<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n11.6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n90<\/p>\n<\/td>\n | \n \nbps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAverage Selling Price<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n53.33<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n52.98<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n(1<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnits Sold<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n(5<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nReturn Rate(c)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n15.2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n14.8<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n(40<\/p>\n<\/td>\n | \n \n) bps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \neCommerce Revenue(d)<\/sup><\/p>\n<\/td>\n | \n\n \n$<\/p>\n<\/td>\n | \n \n4,321<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n4,219<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n(2<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \neCommerce % of Total Revenue<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n61.8<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n63.9<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n210<\/p>\n<\/td>\n | \n \nbps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nMobile % of eCommerce Revenue(e)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n69.1<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n70.7<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n160<\/p>\n<\/td>\n | \n \nbps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nLTM Total Customers(f)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n8.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n7.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n(6<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n QVC International<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCost of Goods Sold % of Revenue<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n63.7<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n63.9<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n20<\/p>\n<\/td>\n | \n \nbps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOperating Income Margin (%)(g)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n15.1<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n11.5<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n(360<\/p>\n<\/td>\n | \n \n) bps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdjusted OIBDA Margin (%)(g)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n13.2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n13.9<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n70<\/p>\n<\/td>\n | \n \nbps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAverage Selling Price<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n(5<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n(3<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnits Sold<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n3<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nReturn Rate(c)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n19.1<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n18.9<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n(20<\/p>\n<\/td>\n | \n \n) bps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \neCommerce Revenue(d)<\/sup><\/p>\n<\/td>\n | \n\n \n$<\/p>\n<\/td>\n | \n \n1,217<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n1,257<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n3<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n5<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \neCommerce % of Total Revenue<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n49.6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n52.4<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n280<\/p>\n<\/td>\n | \n \nbps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nMobile % of eCommerce Revenue(e)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n69.9<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n74.5<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n460<\/p>\n<\/td>\n | \n \nbps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nLTM Total Customers(f)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n4.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n4.0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n(2<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Cornerstone<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCost of Goods Sold % of Revenue<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n61.5<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n59.5<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n(200<\/p>\n<\/td>\n | \n \n) bps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOperating Income Margin (%)(h)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n3.0<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n(280<\/p>\n<\/td>\n | \n \n) bps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdjusted OIBDA Margin (%)(h)<\/sup><\/p>\n<\/td>\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n5.8<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n3.5<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n(230<\/p>\n<\/td>\n | \n \n) bps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \neCommerce Revenue(d)<\/sup><\/p>\n<\/td>\n | \n\n \n$<\/p>\n<\/td>\n | \n \n902<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n795<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n(12<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \neCommerce % of Total Revenue<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n77.4<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n76.4<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n(100<\/p>\n<\/td>\n | \n \n) bps<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| ____________________<\/td>\n<\/tr>\n | \n| \n \na)<\/p>\n<\/td>\n | | \n\n \nFor a definition of constant currency financial metrics, see the accompanying schedules.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nb)<\/p>\n<\/td>\n | | \n\n \nFor the year ended December 31, 2023, QxH incurred (i) a $326 million non-cash impairment charge related to goodwill, (ii) a $208 million net gain on insurance proceeds representing insurance proceeds received in excess of fire losses, (iii) $13 million of restructuring costs related to workforce reduction, (iv) a $17 million gain on the sale of the Rocky Mount, NC fulfillment center (\u201cRocky Mount\u201d) and (v) $16 million of penalties. For the year ended December 31, 2024, QxH incurred (i) a $1.5 billion non-cash impairment charge related to goodwill and tradenames and (ii) $10 million of restructuring charges related to a plan to shift its information technology operating model. These items are included in operating income and excluded from Adjusted OIBDA. See reconciling schedule 2.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nc)<\/p>\n<\/td>\n | | \n\n \nMeasured as returned sales over gross shipped sales in US Dollars.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nd)<\/p>\n<\/td>\n | | \n\n \nBased on net revenue.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \ne)<\/p>\n<\/td>\n | | \n\n \nBased on gross US Dollar orders.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nf)<\/p>\n<\/td>\n | | \n\n \nLTM: Last twelve months.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \ng)<\/p>\n<\/td>\n | | \n\n \nFor the year ended December 31, 2023, QVC International incurred $113 million of gains related to the sale leaseback of its UK and German fulfillment centers partially offset by $17 million in restructuring charges. For the year ended December 31, 2024, QVC International recorded $8 million of restructuring charges related to a plan to shift its information technology operating model, partially offset by a $1 million gain related to the sale leaseback of a German property. These items are included in operating income and excluded from Adjusted OIBDA. See reconciling schedule 2.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nh)<\/p>\n<\/td>\n | | \n\n \nFor the year ended December 31, 2023, Cornerstone recorded $2 million in restructuring charges related to a workforce reduction which are included in operating income and excluded from Adjusted OIBDA. See reconciling schedule 2.<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\n| \n FOOTNOTES<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| \n \n1)<\/p>\n<\/td>\n | | \n\n \nQVC Group will discuss these highlights and other matters on QVC Group\u2019s earnings conference call that will begin at 5:00 p.m. (E.T.) on February 27, 2025. For information regarding how to access the call, please see \u201cImportant Notice\u201d later in this document.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n2)<\/p>\n<\/td>\n | | \n\n \nAdjusted for the divestiture of Zulily on May 24, 2023.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n3)<\/p>\n<\/td>\n | | \n\n \nFor a definition of constant currency financial metrics, see the accompanying schedules. Applicable reconciliations can be found in the financial tables at the beginning of this press release.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n4)<\/p>\n<\/td>\n | | \n\n \nFor definitions and applicable reconciliations of Adjusted OIBDA and Adjusted OIBDA margin, see the accompanying schedules.<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n NOTES<\/b><\/p>\n Cash and Debt<\/span><\/p>\n\nThe following presentation is provided to separately identify cash and debt information.<\/p>\n \n\n| \n (amounts in millions)<\/i><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n9\/30\/2024<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n12\/31\/2024<\/p>\n<\/td>\n | | <\/tr>\n \n| \n Cash and cash equivalents (GAAP)<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 873<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 905<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | <\/tr>\n \n| \n Debt:<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | <\/tr>\n \n| \n \nQVC senior secured notes(a)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n2,732<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n2,732<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nQVC senior secured bank credit facility<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,280<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,195<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |