Summary of Significant Accounting Policies (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| Summary of activity in the allowance for doubtful accounts |
​
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Balance |
​ |
Additions |
​ |
​ |
​ |
​ |
Balance |
Ìý |
​ |
​ |
beginning |
​ |
Charged |
​ |
​ |
​ |
​ |
Deductions- |
​ |
endÌýof |
Ìý |
​ |
​ |
ofÌýyear |
​ |
toÌýexpense |
​ |
Other |
​ |
write-offs |
​ |
year |
Ìý |
​ |
​ |
amountsÌýinÌýmillions |
Ìý |
2019 |
ÌýÌýÌýÌý |
$ |
117 |
ÌýÌýÌýÌý |
130 |
ÌýÌýÌýÌý |
4 |
Ìý |
ÌýÌýÌýÌý |
(122) |
Ìý |
ÌýÌýÌýÌý |
129 |
​ |
2018 |
​ |
$ |
92 |
ÌýÌýÌýÌý |
123 |
ÌýÌýÌýÌý |
3 |
Ìý |
ÌýÌýÌýÌý |
(101) |
Ìý |
ÌýÌýÌýÌý |
117 |
​ |
2017 |
ÌýÌýÌýÌý |
$ |
99 |
ÌýÌýÌýÌý |
73 |
ÌýÌýÌýÌý |
(1) |
Ìý |
ÌýÌýÌýÌý |
(79) |
Ìý |
ÌýÌýÌýÌý |
92 |
​ |
|
| Schedule of Property and Equipment |
​
|
|
|
|
|
|
|
​ |
​ |
DecemberÌý31, |
​ |
DecemberÌý31, |
Ìý |
​ |
​ |
2019 |
​ |
2018 |
​ |
​ |
​ |
amountsÌýinÌýmillions |
Ìý |
Land |
ÌýÌýÌýÌý |
$ |
128 |
ÌýÌýÌýÌý |
128 |
​ |
Buildings and improvements |
​ |
Ìý |
1,204 |
Ìý |
1,194 |
​ |
Support equipment |
​ |
Ìý |
1,023 |
Ìý |
1,302 |
​ |
Projects in progress |
​ |
Ìý |
169 |
Ìý |
61 |
​ |
Finance lease right-of-use ("ROU") assets |
​ |
​ |
282 |
​ |
— |
​ |
Total property and equipment |
​ |
$ |
2,806 |
Ìý |
2,685 |
​ |
|
| Schedule of disaggregation of revenue |
​
|
|
|
|
|
|
|
|
|
|
|
|
​ |
Year ended |
​ |
​ |
December 31, 2019 |
​ |
​ |
​ |
QxH |
​ |
QVC Int'l |
​ |
Zulily |
​ |
Corp and other |
​ |
Total |
​ |
​ |
in millions |
​ |
Home |
$ |
3,047 |
​ |
905 |
​ |
422 |
​ |
729 |
​ |
5,103 |
​ |
Beauty |
​ |
1,299 |
​ |
659 |
​ |
53 |
​ |
— |
​ |
2,011 |
​ |
Apparel |
​ |
1,289 |
​ |
422 |
​ |
582 |
​ |
172 |
​ |
2,465 |
​ |
Accessories |
​ |
918 |
​ |
376 |
​ |
416 |
​ |
— |
​ |
1,710 |
​ |
Electronics |
​ |
1,141 |
​ |
107 |
​ |
15 |
​ |
— |
​ |
1,263 |
​ |
Jewelry |
​ |
402 |
​ |
226 |
​ |
54 |
​ |
— |
​ |
682 |
​ |
Other revenue |
​ |
181 |
​ |
14 |
​ |
29 |
​ |
— |
​ |
224 |
​ |
Total Revenue |
$ |
8,277 |
​ |
2,709 |
​ |
1,571 |
​ |
901 |
​ |
13,458 |
​ |
​
|
|
|
|
|
|
|
|
|
|
|
|
​ |
Year ended |
​ |
​ |
December 31, 2018 |
​ |
​ |
​ |
QxH |
​ |
QVC Int'l |
​ |
Zulily |
​ |
Corp and other |
​ |
Total |
​ |
​ |
in millions |
​ |
Home |
$ |
3,175 |
​ |
1,023 |
​ |
511 |
​ |
791 |
​ |
5,500 |
​ |
Beauty |
​ |
1,326 |
​ |
640 |
​ |
50 |
​ |
— |
​ |
2,016 |
​ |
Apparel |
​ |
1,323 |
​ |
453 |
​ |
684 |
​ |
180 |
​ |
2,640 |
​ |
Accessories |
​ |
933 |
​ |
273 |
​ |
472 |
​ |
— |
​ |
1,678 |
​ |
Electronics |
​ |
1,129 |
​ |
119 |
​ |
18 |
​ |
— |
​ |
1,266 |
​ |
Jewelry |
​ |
473 |
​ |
213 |
​ |
53 |
​ |
— |
​ |
739 |
​ |
Other revenue |
​ |
185 |
​ |
17 |
​ |
29 |
​ |
— |
​ |
231 |
​ |
Total Revenue |
$ |
8,544 |
​ |
2,738 |
​ |
1,817 |
​ |
971 |
​ |
14,070 |
​ |
|
| Summary of activity in allowance for sales returns |
​
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
Balance beginning of year |
​ |
Additions - charged to earnings |
​ |
Deductions |
​ |
Acquisition of HSN |
​ |
Balance end of year |
​ |
​ |
in millions |
2019 |
$ |
266 |
​ |
2,336 |
​ |
(2,341) |
​ |
- |
​ |
261 |
2018 (1) |
$ |
267 |
​ |
2,434 |
​ |
(2,435) |
​ |
- |
​ |
266 |
2017 |
$ |
98 |
​ |
1,027 |
​ |
(1,023) |
​ |
35 |
​ |
137 |
|
(1) |
Amounts in 2018 and 2019 include the impact of adoption of ASC 606. |
|
| Schedule of net earnings attributable to stockholders |
Net earnings (loss) attributable to jvidÊÓƵ stockholders is comprised of the following (amounts in millions):
​
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Years ended December 31, |
​ |
​ |
​ |
2019 |
​ |
2018 |
​ |
2017 |
​ |
jvidÊÓƵ |
ÌýÌýÌýÌý |
​ |
​ |
ÌýÌýÌýÌý |
​ |
ÌýÌýÌýÌý |
​ |
Ìý |
Net earnings (loss) from continuing operations |
​ |
$ |
(456) |
​ |
674 |
​ |
1,208 |
​ |
Net earnings (loss) from discontinued operations |
​ |
$ |
NA |
​ |
NA |
​ |
NA |
​ |
Liberty Ventures |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Net earnings (loss) from continuing operations |
​ |
$ |
NA |
​ |
101 |
​ |
781 |
​ |
Net earnings (loss) from discontinued operations |
​ |
$ |
NA |
​ |
141 |
​ |
452 |
​ |
|
| Schedule of weighted average number of shares outstanding |
​
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
YearsÌýended December 31, |
Ìý |
​ |
ÌýÌýÌýÌý |
​ |
2019 |
ÌýÌýÌýÌý |
2018 |
ÌýÌýÌýÌý |
2017 |
Ìý |
​ |
​ |
​ |
numberÌýofÌýsharesÌýinÌýmillions |
Ìý |
Basic WASO |
​ |
​ |
424 |
​ |
462 |
​ |
445 |
​ |
Potentially dilutive shares |
​ |
​ |
— |
​ |
3 |
​ |
3 |
​ |
Diluted WASO |
​ |
​ |
424 |
​ |
465 |
​ |
448 |
​ |
|
| Liberty Ventures common stock |
Ìý
|
| Schedule of weighted average number of shares outstanding |
​
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
ÌýÌýÌýÌý |
YearsÌýended December 31, |
Ìý |
​ |
ÌýÌýÌýÌý |
​ |
2019 |
ÌýÌýÌýÌý |
2018 (1) |
ÌýÌýÌýÌý |
2017 |
Ìý |
​ |
​ |
​ |
numberÌýofÌýsharesÌýinÌýmillions |
Ìý |
Basic WASO |
​ |
Ìý |
NA |
​ |
86 |
​ |
86 |
​ |
Potentially dilutive shares |
​ |
Ìý |
NA |
​ |
1 |
​ |
1 |
​ |
Diluted WASO |
​ |
Ìý |
NA |
​ |
87 |
​ |
87 |
​ |
|
(1) |
All of the outstanding shares of Liberty Ventures Series A and B common stock were redeemed for GCI Liberty Series A and B common stock as a result of the GCI Liberty Split-Off on March 9, 2018. |
|
| ASU 2014-09 |
Ìý
|
| Schedule of impact of new accounting pronouncements |
​
|
|
|
|
|
|
|
|
​ |
​ |
As reported |
​ |
​ |
​ |
Balance without |
​ |
​ |
​ |
Year ended |
​ |
​ |
​ |
adoption of |
​ |
​ |
​ |
DecemberÌý31,Ìý2018 |
​ |
Impact of ASC 606 |
​ |
ASC 606 |
​ |
​ |
​ |
in millions |
​ |
Net revenue |
$ |
14,070 |
​ |
(154) |
​ |
13,916 |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Cost of retail sales |
$ |
9,209 |
​ |
(13) |
​ |
9,196 |
​ |
Selling, general and administrative expenses, including stock-based compensation and transaction related costs |
$ |
1,897 |
​ |
(126) |
​ |
1,771 |
​ |
Operating expense |
$ |
970 |
​ |
(2) |
​ |
968 |
​ |
Income tax (expense) benefit |
$ |
(60) |
​ |
2 |
​ |
(58) |
​ |
Net income |
$ |
916 |
​ |
(11) |
​ |
905 |
​ |
|