| Financial Information for Tracking Stock Groups |
BALANCE SHEET INFORMATION
MarchÌý31, 2015Ìý
(unaudited)
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Attributed (note 1)
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
ÌýÌýÌýÌý
|
QVC
|
ÌýÌýÌýÌý
|
Ventures
|
ÌýÌýÌýÌý
|
Inter-group
|
ÌýÌýÌýÌý
|
Consolidated
|
Ìý
|
|
Ìý
|
Ìý
|
Group
|
Ìý
|
Group
|
Ìý
|
Eliminations
|
Ìý
|
Liberty
|
Ìý
|
|
Ìý
|
Ìý
|
amountsÌýinÌýmillions
|
Ìý
|
|
Assets
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Current assets:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Cash and cash equivalents
|
Ìý
|
$
|
530Ìý
|
Ìý
|
1,820Ìý
|
Ìý
|
Ìý—
|
Ìý
|
2,350Ìý
|
Ìý
|
|
Trade and other receivables, net
|
Ìý
|
Ìý
|
836Ìý
|
Ìý
|
31Ìý
|
Ìý
|
Ìý—
|
Ìý
|
867Ìý
|
Ìý
|
|
Inventory, net
|
Ìý
|
Ìý
|
966Ìý
|
Ìý
|
153Ìý
|
Ìý
|
Ìý—
|
Ìý
|
1,119Ìý
|
Ìý
|
|
Short-term marketable securities
|
Ìý
|
Ìý
|
9Ìý
|
Ìý
|
851Ìý
|
Ìý
|
Ìý—
|
Ìý
|
860Ìý
|
Ìý
|
|
Other current assets
|
Ìý
|
Ìý
|
269Ìý
|
Ìý
|
11Ìý
|
Ìý
|
(205)
|
Ìý
|
75Ìý
|
Ìý
|
|
Total current assets
|
Ìý
|
Ìý
|
2,610Ìý
|
Ìý
|
2,866Ìý
|
Ìý
|
(205)
|
Ìý
|
5,271Ìý
|
Ìý
|
|
Investments in available-for-sale securities and other cost investments (note 2)
|
Ìý
|
Ìý
|
4Ìý
|
Ìý
|
1,232Ìý
|
Ìý
|
Ìý—
|
Ìý
|
1,236Ìý
|
Ìý
|
|
Investments in affiliates, accounted for using the equity method
(note 3)
|
Ìý
|
Ìý
|
193Ìý
|
Ìý
|
1,226Ìý
|
Ìý
|
Ìý—
|
Ìý
|
1,419Ìý
|
Ìý
|
|
Property and equipment, net
|
Ìý
|
Ìý
|
971Ìý
|
Ìý
|
67Ìý
|
Ìý
|
Ìý—
|
Ìý
|
1,038Ìý
|
Ìý
|
|
Intangible assets not subject to amortization
|
Ìý
|
Ìý
|
7,576Ìý
|
Ìý
|
268Ìý
|
Ìý
|
Ìý—
|
Ìý
|
7,844Ìý
|
Ìý
|
|
Intangible assets subject to amortization, net
|
Ìý
|
Ìý
|
1,061Ìý
|
Ìý
|
61Ìý
|
Ìý
|
Ìý—
|
Ìý
|
1,122Ìý
|
Ìý
|
|
Other assets, at cost, net of accumulated amortization
|
Ìý
|
Ìý
|
66Ìý
|
Ìý
|
6Ìý
|
Ìý
|
Ìý—
|
Ìý
|
72Ìý
|
Ìý
|
|
Total assets
|
Ìý
|
$
|
12,481Ìý
|
Ìý
|
5,726Ìý
|
Ìý
|
(205)
|
Ìý
|
18,002Ìý
|
Ìý
|
|
Liabilities and Equity
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Current liabilities:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Intergroup payable (receivable) (note 7)
|
Ìý
|
$
|
47Ìý
|
Ìý
|
(47)
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
|
Accounts payable
|
Ìý
|
Ìý
|
554Ìý
|
Ìý
|
85Ìý
|
Ìý
|
Ìý—
|
Ìý
|
639Ìý
|
Ìý
|
|
Accrued liabilities
|
Ìý
|
Ìý
|
543Ìý
|
Ìý
|
48Ìý
|
Ìý
|
Ìý—
|
Ìý
|
591Ìý
|
Ìý
|
|
Current portion of debt (note 4)
|
Ìý
|
Ìý
|
8Ìý
|
Ìý
|
931Ìý
|
Ìý
|
Ìý—
|
Ìý
|
939Ìý
|
Ìý
|
|
Current deferred tax liabilities
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
1,196Ìý
|
Ìý
|
(205)
|
Ìý
|
991Ìý
|
Ìý
|
|
Other current liabilities
|
Ìý
|
Ìý
|
163Ìý
|
Ìý
|
73Ìý
|
Ìý
|
Ìý—
|
Ìý
|
236Ìý
|
Ìý
|
|
Total current liabilities
|
Ìý
|
Ìý
|
1,315Ìý
|
Ìý
|
2,286Ìý
|
Ìý
|
(205)
|
Ìý
|
3,396Ìý
|
Ìý
|
|
Long-term debt (note 4)
|
Ìý
|
Ìý
|
5,740Ìý
|
Ìý
|
1,241Ìý
|
Ìý
|
Ìý—
|
Ìý
|
6,981Ìý
|
Ìý
|
|
Deferred income tax liabilities
|
Ìý
|
Ìý
|
936Ìý
|
Ìý
|
803Ìý
|
Ìý
|
Ìý—
|
Ìý
|
1,739Ìý
|
Ìý
|
|
Other liabilities
|
Ìý
|
Ìý
|
169Ìý
|
Ìý
|
12Ìý
|
Ìý
|
Ìý—
|
Ìý
|
181Ìý
|
Ìý
|
|
Total liabilities
|
Ìý
|
Ìý
|
8,160Ìý
|
Ìý
|
4,342Ìý
|
Ìý
|
(205)
|
Ìý
|
12,297Ìý
|
Ìý
|
|
Equity/Attributed net assets (liabilities)
|
Ìý
|
Ìý
|
4,231Ìý
|
Ìý
|
1,378Ìý
|
Ìý
|
Ìý—
|
Ìý
|
5,609Ìý
|
Ìý
|
|
Noncontrolling interests in equity of subsidiaries
|
Ìý
|
Ìý
|
90Ìý
|
Ìý
|
6Ìý
|
Ìý
|
Ìý—
|
Ìý
|
96Ìý
|
Ìý
|
|
Total liabilities and equity
|
Ìý
|
$
|
12,481Ìý
|
Ìý
|
5,726Ìý
|
Ìý
|
(205)
|
Ìý
|
18,002Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
Ìý
Ìý
STATEMENT OF OPERATIONS INFORMATION
Three months endedÌýMarchÌý31, 2015Ìý
(unaudited)
Ìý
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Attributed (note 1)
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
QVC
|
Ìý
|
Ventures
|
Ìý
|
Consolidated
|
Ìý
|
|
Ìý
|
Ìý
|
Group
|
Ìý
|
Group
|
Ìý
|
Liberty
|
Ìý
|
|
Ìý
|
Ìý
|
amountsÌýinÌýmillions
|
Ìý
|
|
Net retail sales
|
Ìý
|
$
|
1,938Ìý
|
Ìý
|
276Ìý
|
Ìý
|
2,214Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Operating costs and expenses:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Cost of sales
|
Ìý
|
Ìý
|
1,221Ìý
|
Ìý
|
194Ìý
|
Ìý
|
1,415Ìý
|
Ìý
|
|
Operating, including stock-based compensation (note 5)
|
Ìý
|
Ìý
|
169Ìý
|
Ìý
|
22Ìý
|
Ìý
|
191Ìý
|
Ìý
|
|
Selling, general and administrative, including stock-based compensation (note 5)
|
Ìý
|
Ìý
|
159Ìý
|
Ìý
|
45Ìý
|
Ìý
|
204Ìý
|
Ìý
|
|
Depreciation and amortization
|
Ìý
|
Ìý
|
152Ìý
|
Ìý
|
16Ìý
|
Ìý
|
168Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
1,701Ìý
|
Ìý
|
277Ìý
|
Ìý
|
1,978Ìý
|
Ìý
|
|
Operating income (loss)
|
Ìý
|
Ìý
|
237Ìý
|
Ìý
|
(1)
|
Ìý
|
236Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Other income (expense):
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Interest expense
|
Ìý
|
Ìý
|
(75)
|
Ìý
|
(20)
|
Ìý
|
(95)
|
Ìý
|
|
Share of earnings (losses) of affiliates, net (note 3)
|
Ìý
|
Ìý
|
24Ìý
|
Ìý
|
(21)
|
Ìý
|
3Ìý
|
Ìý
|
|
Realized and unrealized gains (losses) on financial instruments, net
|
Ìý
|
Ìý
|
(10)
|
Ìý
|
6Ìý
|
Ìý
|
(4)
|
Ìý
|
|
Other, net
|
Ìý
|
Ìý
|
8Ìý
|
Ìý
|
7Ìý
|
Ìý
|
15Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
(53)
|
Ìý
|
(28)
|
Ìý
|
(81)
|
Ìý
|
|
Earnings (loss) before income taxes
|
Ìý
|
Ìý
|
184Ìý
|
Ìý
|
(29)
|
Ìý
|
155Ìý
|
Ìý
|
|
Income tax benefit (expense)
|
Ìý
|
Ìý
|
(24)
|
Ìý
|
21Ìý
|
Ìý
|
(3)
|
Ìý
|
|
Net earnings (loss)
|
Ìý
|
Ìý
|
160Ìý
|
Ìý
|
(8)
|
Ìý
|
152Ìý
|
Ìý
|
|
Less net earnings (loss) attributable to noncontrolling interests
|
Ìý
|
Ìý
|
9Ìý
|
Ìý
|
Ìý—
|
Ìý
|
9Ìý
|
Ìý
|
|
Net earnings (loss) attributable to Liberty stockholders
|
Ìý
|
$
|
151Ìý
|
Ìý
|
(8)
|
Ìý
|
143Ìý
|
Ìý
|
|
Ìý
|
ÌýÌýÌýÌý
|
Ìý
|
Ìý
|
ÌýÌýÌýÌý
|
Ìý
|
ÌýÌýÌýÌý
|
Ìý
|
Ìý
|
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
STATEMENT OF OPERATIONS INFORMATION
Three months endedÌýMarchÌý31, 2014Ìý
(unaudited)
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Attributed (note 1)
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
ÌýÌýÌýÌý
|
QVC
|
ÌýÌýÌýÌý
|
Ventures
|
ÌýÌýÌýÌý
|
Consolidated
|
Ìý
|
|
Ìý
|
Ìý
|
Group
|
Ìý
|
Group
|
Ìý
|
Liberty
|
Ìý
|
|
Ìý
|
Ìý
|
amountsÌýinÌýmillions
|
Ìý
|
|
Net retail sales
|
Ìý
|
$
|
2,434Ìý
|
Ìý
|
Ìý—
|
Ìý
|
2,434Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Operating costs and expenses:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Cost of sales
|
Ìý
|
Ìý
|
1,556Ìý
|
Ìý
|
Ìý—
|
Ìý
|
1,556Ìý
|
Ìý
|
|
Operating, including stock-based compensation
|
Ìý
|
Ìý
|
213Ìý
|
Ìý
|
Ìý—
|
Ìý
|
213Ìý
|
Ìý
|
|
Selling, general and administrative, including stock-based compensation (note 5)
|
Ìý
|
Ìý
|
253Ìý
|
Ìý
|
3Ìý
|
Ìý
|
256Ìý
|
Ìý
|
|
Depreciation and amortization
|
Ìý
|
Ìý
|
162Ìý
|
Ìý
|
1Ìý
|
Ìý
|
163Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
2,184Ìý
|
Ìý
|
4Ìý
|
Ìý
|
2,188Ìý
|
Ìý
|
|
Operating income (loss)
|
Ìý
|
Ìý
|
250Ìý
|
Ìý
|
(4)
|
Ìý
|
246Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Other income (expense):
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Interest expense
|
Ìý
|
Ìý
|
(76)
|
Ìý
|
(19)
|
Ìý
|
(95)
|
Ìý
|
|
Share of earnings (losses) of affiliates, net (note 3)
|
Ìý
|
Ìý
|
21Ìý
|
Ìý
|
(23)
|
Ìý
|
(2)
|
Ìý
|
|
Realized and unrealized gains (losses) on financial instruments, net
|
Ìý
|
Ìý
|
1Ìý
|
Ìý
|
(26)
|
Ìý
|
(25)
|
Ìý
|
|
Other, net
|
Ìý
|
Ìý
|
1Ìý
|
Ìý
|
6Ìý
|
Ìý
|
7Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
(53)
|
Ìý
|
(62)
|
Ìý
|
(115)
|
Ìý
|
|
Earnings (loss) from continuing operations before income taxes
|
Ìý
|
Ìý
|
197Ìý
|
Ìý
|
(66)
|
Ìý
|
131Ìý
|
Ìý
|
|
Income tax benefit (expense)
|
Ìý
|
Ìý
|
(73)
|
Ìý
|
33Ìý
|
Ìý
|
(40)
|
Ìý
|
|
Net earnings (loss) from continuing operations
|
Ìý
|
Ìý
|
124Ìý
|
Ìý
|
(33)
|
Ìý
|
91Ìý
|
Ìý
|
|
Earnings (loss) from discontinued operations, net of taxes
|
Ìý
|
Ìý
|
(4)
|
Ìý
|
23Ìý
|
Ìý
|
19Ìý
|
Ìý
|
|
Net earnings (loss)
|
Ìý
|
Ìý
|
120Ìý
|
Ìý
|
(10)
|
Ìý
|
110Ìý
|
Ìý
|
|
Less net earnings (loss) attributable to noncontrolling interests
|
Ìý
|
Ìý
|
10Ìý
|
Ìý
|
18Ìý
|
Ìý
|
28Ìý
|
Ìý
|
|
Net earnings (loss) attributable to Liberty stockholders
|
Ìý
|
$
|
110Ìý
|
Ìý
|
(28)
|
Ìý
|
82Ìý
|
Ìý
|
Ìý
Ìý
Ìý
Ìý
STATEMENT OF OPERATIONS INFORMATION
Three months endedÌýMarchÌý31, 2015Ìý
(unaudited)
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Attributed (note 1)
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
QVC
|
Ìý
|
Ventures
|
Ìý
|
Consolidated
|
Ìý
|
|
Ìý
|
Ìý
|
Group
|
Ìý
|
Group
|
Ìý
|
Liberty
|
Ìý
|
|
Ìý
|
Ìý
|
amountsÌýinÌýmillions
|
Ìý
|
|
Net retail sales
|
Ìý
|
$
|
1,938Ìý
|
Ìý
|
276Ìý
|
Ìý
|
2,214Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Operating costs and expenses:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Cost of sales
|
Ìý
|
Ìý
|
1,221Ìý
|
Ìý
|
194Ìý
|
Ìý
|
1,415Ìý
|
Ìý
|
|
Operating, including stock-based compensation (note 5)
|
Ìý
|
Ìý
|
169Ìý
|
Ìý
|
22Ìý
|
Ìý
|
191Ìý
|
Ìý
|
|
Selling, general and administrative, including stock-based compensation (note 5)
|
Ìý
|
Ìý
|
159Ìý
|
Ìý
|
45Ìý
|
Ìý
|
204Ìý
|
Ìý
|
|
Depreciation and amortization
|
Ìý
|
Ìý
|
152Ìý
|
Ìý
|
16Ìý
|
Ìý
|
168Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
1,701Ìý
|
Ìý
|
277Ìý
|
Ìý
|
1,978Ìý
|
Ìý
|
|
Operating income (loss)
|
Ìý
|
Ìý
|
237Ìý
|
Ìý
|
(1)
|
Ìý
|
236Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Other income (expense):
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Interest expense
|
Ìý
|
Ìý
|
(75)
|
Ìý
|
(20)
|
Ìý
|
(95)
|
Ìý
|
|
Share of earnings (losses) of affiliates, net (note 3)
|
Ìý
|
Ìý
|
24Ìý
|
Ìý
|
(21)
|
Ìý
|
3Ìý
|
Ìý
|
|
Realized and unrealized gains (losses) on financial instruments, net
|
Ìý
|
Ìý
|
(10)
|
Ìý
|
6Ìý
|
Ìý
|
(4)
|
Ìý
|
|
Other, net
|
Ìý
|
Ìý
|
8Ìý
|
Ìý
|
7Ìý
|
Ìý
|
15Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
(53)
|
Ìý
|
(28)
|
Ìý
|
(81)
|
Ìý
|
|
Earnings (loss) before income taxes
|
Ìý
|
Ìý
|
184Ìý
|
Ìý
|
(29)
|
Ìý
|
155Ìý
|
Ìý
|
|
Income tax benefit (expense)
|
Ìý
|
Ìý
|
(24)
|
Ìý
|
21Ìý
|
Ìý
|
(3)
|
Ìý
|
|
Net earnings (loss) from continuing operations
|
Ìý
|
Ìý
|
160Ìý
|
Ìý
|
(8)
|
Ìý
|
152Ìý
|
Ìý
|
|
Net earnings (loss) from discontinued operations, net of taxes
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
|
Net earnings (loss)
|
Ìý
|
Ìý
|
160Ìý
|
Ìý
|
(8)
|
Ìý
|
152Ìý
|
Ìý
|
|
Less net earnings (loss) attributable to noncontrolling interests
|
Ìý
|
Ìý
|
9Ìý
|
Ìý
|
Ìý—
|
Ìý
|
9Ìý
|
Ìý
|
|
Net earnings (loss) attributable to Liberty stockholders
|
Ìý
|
$
|
151Ìý
|
Ìý
|
(8)
|
Ìý
|
143Ìý
|
Ìý
|
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
STATEMENT OF OPERATIONS INFORMATION
Three months endedÌýMarchÌý31, 2014Ìý
(unaudited)
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Attributed (note 1)
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
ÌýÌýÌýÌý
|
QVC
|
ÌýÌýÌýÌý
|
Ventures
|
ÌýÌýÌýÌý
|
Consolidated
|
Ìý
|
|
Ìý
|
Ìý
|
Group
|
Ìý
|
Group
|
Ìý
|
Liberty
|
Ìý
|
|
Ìý
|
Ìý
|
amountsÌýinÌýmillions
|
Ìý
|
|
Net retail sales
|
Ìý
|
$
|
2,434Ìý
|
Ìý
|
Ìý—
|
Ìý
|
2,434Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Operating costs and expenses:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Cost of sales
|
Ìý
|
Ìý
|
1,556Ìý
|
Ìý
|
Ìý—
|
Ìý
|
1,556Ìý
|
Ìý
|
|
Operating, including stock-based compensation
|
Ìý
|
Ìý
|
213Ìý
|
Ìý
|
Ìý—
|
Ìý
|
213Ìý
|
Ìý
|
|
Selling, general and administrative, including stock-based compensation (note 5)
|
Ìý
|
Ìý
|
253Ìý
|
Ìý
|
3Ìý
|
Ìý
|
256Ìý
|
Ìý
|
|
Depreciation and amortization
|
Ìý
|
Ìý
|
162Ìý
|
Ìý
|
1Ìý
|
Ìý
|
163Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
2,184Ìý
|
Ìý
|
4Ìý
|
Ìý
|
2,188Ìý
|
Ìý
|
|
Operating income (loss)
|
Ìý
|
Ìý
|
250Ìý
|
Ìý
|
(4)
|
Ìý
|
246Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Other income (expense):
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Interest expense
|
Ìý
|
Ìý
|
(76)
|
Ìý
|
(19)
|
Ìý
|
(95)
|
Ìý
|
|
Share of earnings (losses) of affiliates, net (note 3)
|
Ìý
|
Ìý
|
21Ìý
|
Ìý
|
(23)
|
Ìý
|
(2)
|
Ìý
|
|
Realized and unrealized gains (losses) on financial instruments, net
|
Ìý
|
Ìý
|
1Ìý
|
Ìý
|
(26)
|
Ìý
|
(25)
|
Ìý
|
|
Other, net
|
Ìý
|
Ìý
|
1Ìý
|
Ìý
|
6Ìý
|
Ìý
|
7Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
(53)
|
Ìý
|
(62)
|
Ìý
|
(115)
|
Ìý
|
|
Earnings (loss) from continuing operations before income taxes
|
Ìý
|
Ìý
|
197Ìý
|
Ìý
|
(66)
|
Ìý
|
131Ìý
|
Ìý
|
|
Income tax benefit (expense)
|
Ìý
|
Ìý
|
(73)
|
Ìý
|
33Ìý
|
Ìý
|
(40)
|
Ìý
|
|
Net earnings (loss) from continuing operations
|
Ìý
|
Ìý
|
124Ìý
|
Ìý
|
(33)
|
Ìý
|
91Ìý
|
Ìý
|
|
Earnings (loss) from discontinued operations, net of taxes
|
Ìý
|
Ìý
|
(4)
|
Ìý
|
23Ìý
|
Ìý
|
19Ìý
|
Ìý
|
|
Net earnings (loss)
|
Ìý
|
Ìý
|
120Ìý
|
Ìý
|
(10)
|
Ìý
|
110Ìý
|
Ìý
|
|
Less net earnings (loss) attributable to noncontrolling interests
|
Ìý
|
Ìý
|
10Ìý
|
Ìý
|
18Ìý
|
Ìý
|
28Ìý
|
Ìý
|
|
Net earnings (loss) attributable to Liberty stockholders
|
Ìý
|
$
|
110Ìý
|
Ìý
|
(28)
|
Ìý
|
82Ìý
|
Ìý
|
Ìý
STATEMENT OF CASH FLOWS INFORMATION
Three months endedÌýMarchÌý31, 2015Ìý
(unaudited)
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Attributed (note 1)
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
ÌýÌýÌýÌý
|
QVC
|
ÌýÌýÌýÌý
|
Ventures
|
ÌýÌýÌýÌý
|
Consolidated
|
Ìý
|
|
Ìý
|
Ìý
|
Group
|
Ìý
|
Group
|
Ìý
|
Liberty
|
Ìý
|
|
Ìý
|
Ìý
|
amountsÌýinÌýmillions
|
Ìý
|
|
CASH FLOWS FROM OPERATING ACTIVITIES:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Net earnings (loss)
|
Ìý
|
$
|
160Ìý
|
Ìý
|
(8)
|
Ìý
|
152Ìý
|
Ìý
|
|
Adjustments to reconcile net earnings to net cash provided by operating activities:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Depreciation and amortization
|
Ìý
|
Ìý
|
152Ìý
|
Ìý
|
16Ìý
|
Ìý
|
168Ìý
|
Ìý
|
|
Stock-based compensation
|
Ìý
|
Ìý
|
12Ìý
|
Ìý
|
3Ìý
|
Ìý
|
15Ìý
|
Ìý
|
|
Cash payments for stock based compensation
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
(2)
|
Ìý
|
(2)
|
Ìý
|
|
Excess tax benefit from stock based compensation
|
Ìý
|
Ìý
|
(13)
|
Ìý
|
Ìý—
|
Ìý
|
(13)
|
Ìý
|
|
Share of (earnings) losses of affiliates, net
|
Ìý
|
Ìý
|
(24)
|
Ìý
|
21Ìý
|
Ìý
|
(3)
|
Ìý
|
|
Cash receipts from return on equity investments
|
Ìý
|
Ìý
|
7Ìý
|
Ìý
|
6Ìý
|
Ìý
|
13Ìý
|
Ìý
|
|
Realized and unrealized gains (losses) on financial instruments, net
|
Ìý
|
Ìý
|
10Ìý
|
Ìý
|
(6)
|
Ìý
|
4Ìý
|
Ìý
|
|
Deferred income tax (benefit) expense
|
Ìý
|
Ìý
|
(79)
|
Ìý
|
25Ìý
|
Ìý
|
(54)
|
Ìý
|
|
Other, net
|
Ìý
|
Ìý
|
(9)
|
Ìý
|
1Ìý
|
Ìý
|
(8)
|
Ìý
|
|
Intergroup tax allocation
|
Ìý
|
Ìý
|
47Ìý
|
Ìý
|
(47)
|
Ìý
|
Ìý—
|
Ìý
|
|
Intergroup tax (payments) receipts
|
Ìý
|
Ìý
|
(6)
|
Ìý
|
6Ìý
|
Ìý
|
Ìý—
|
Ìý
|
|
Changes in operating assets and liabilities
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Current and other assets
|
Ìý
|
Ìý
|
238Ìý
|
Ìý
|
20Ìý
|
Ìý
|
258Ìý
|
Ìý
|
|
Payables and other current liabilities
|
Ìý
|
Ìý
|
(268)
|
Ìý
|
(42)
|
Ìý
|
(310)
|
Ìý
|
|
Net cash provided (used) by operating activities
|
Ìý
|
Ìý
|
227Ìý
|
Ìý
|
(7)
|
Ìý
|
220Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
CASH FLOWS FROM INVESTING ACTIVITIES:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Cash paid for acquisitions
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
(20)
|
Ìý
|
(20)
|
Ìý
|
|
Investments in and loans to cost and equity investees
|
Ìý
|
Ìý
|
(1)
|
Ìý
|
(44)
|
Ìý
|
(45)
|
Ìý
|
|
Cash receipts from returns of equity investments
|
Ìý
|
Ìý
|
200Ìý
|
Ìý
|
Ìý—
|
Ìý
|
200Ìý
|
Ìý
|
|
Capital expended for property and equipment
|
Ìý
|
Ìý
|
(31)
|
Ìý
|
(13)
|
Ìý
|
(44)
|
Ìý
|
|
Purchases of short term and other marketable securities
|
Ìý
|
Ìý
|
(54)
|
Ìý
|
(233)
|
Ìý
|
(287)
|
Ìý
|
|
Sales of short term and other marketable securities
|
Ìý
|
Ìý
|
66Ìý
|
Ìý
|
247Ìý
|
Ìý
|
313Ìý
|
Ìý
|
|
Other investing activities, net
|
Ìý
|
Ìý
|
(44)
|
Ìý
|
Ìý—
|
Ìý
|
(44)
|
Ìý
|
|
Net cash provided (used) by investing activities
|
Ìý
|
Ìý
|
136Ìý
|
Ìý
|
(63)
|
Ìý
|
73Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
CASH FLOWS FROM FINANCING ACTIVITIES:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Borrowings of debt
|
Ìý
|
Ìý
|
351Ìý
|
Ìý
|
180Ìý
|
Ìý
|
531Ìý
|
Ìý
|
|
Repayments of debt
|
Ìý
|
Ìý
|
(466)
|
Ìý
|
(176)
|
Ìý
|
(642)
|
Ìý
|
|
Repurchases of Liberty common stock
|
Ìý
|
Ìý
|
(123)
|
Ìý
|
Ìý—
|
Ìý
|
(123)
|
Ìý
|
|
Minimum withholding taxes on net settlements of stock-based compensation
|
Ìý
|
Ìý
|
(12)
|
Ìý
|
1Ìý
|
Ìý
|
(11)
|
Ìý
|
|
Excess tax benefit from stock-based compensation
|
Ìý
|
Ìý
|
13Ìý
|
Ìý
|
Ìý—
|
Ìý
|
13Ìý
|
Ìý
|
|
Other financing activities, net
|
Ìý
|
Ìý
|
(8)
|
Ìý
|
1Ìý
|
Ìý
|
(7)
|
Ìý
|
|
Net cash provided (used) by financing activities
|
Ìý
|
Ìý
|
(245)
|
Ìý
|
6Ìý
|
Ìý
|
(239)
|
Ìý
|
|
Effect of foreign currency rates on cash
|
Ìý
|
Ìý
|
(10)
|
Ìý
|
Ìý—
|
Ìý
|
(10)
|
Ìý
|
|
Net increase (decrease) in cash and cash equivalents
|
Ìý
|
Ìý
|
108Ìý
|
Ìý
|
(64)
|
Ìý
|
44Ìý
|
Ìý
|
|
Cash and cash equivalents at beginning of period
|
Ìý
|
Ìý
|
422Ìý
|
Ìý
|
1,884Ìý
|
Ìý
|
2,306Ìý
|
Ìý
|
|
Cash and cash equivalents at end period
|
Ìý
|
$
|
530Ìý
|
Ìý
|
1,820Ìý
|
Ìý
|
2,350Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
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Ìý
STATEMENT OF CASH FLOWS INFORMATION
Three months endedÌýMarchÌý31, 2014Ìý
(unaudited)
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Attributed (note 1)
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ÌýÌýÌýÌý
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QVC
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ÌýÌýÌýÌý
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Ventures
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ÌýÌýÌýÌý
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Consolidated
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Ìý
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Ìý
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Group
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Group
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Liberty
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amountsÌýinÌýmillions
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CASHÌýFLOWSÌýFROMÌýOPERATINGÌýACTIVITIES:
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Ìý
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Ìý
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Ìý
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Ìý
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Ìý
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Net earnings (loss)
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$
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120Ìý
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(10)
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110Ìý
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Adjustments to reconcile net earnings to net cash provided by operating activities:
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Ìý
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Ìý
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Ìý
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Ìý
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Ìý
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Ìý
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Ìý
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(Earnings) loss from discontinued operations
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Ìý
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4Ìý
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(23)
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(19)
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Depreciation and amortization
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Ìý
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162Ìý
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1Ìý
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163Ìý
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Stock-based compensation
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Ìý
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Ìý
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24Ìý
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Ìý
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1Ìý
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Ìý
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25Ìý
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Ìý
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Cash payments for stock based compensation
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Ìý
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Ìý
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(3)
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(1)
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Ìý
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(4)
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Excess tax benefit from stock-based compensation
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Ìý
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(8)
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Ìý
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Ìý—
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(8)
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Share of losses (earnings) of affiliates, net
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Ìý
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(21)
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23Ìý
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2Ìý
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Ìý
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Cash receipts from return on equity investments
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Ìý
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Ìý
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5Ìý
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Ìý
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5Ìý
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Ìý
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10Ìý
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Realized and unrealized gains (losses) on financial instruments, net
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Ìý
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(1)
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26Ìý
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25Ìý
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Deferred income tax (benefit) expense
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Ìý
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(49)
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17Ìý
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Ìý
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(32)
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Other, net
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1Ìý
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(1)
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Ìý—
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Intergroup tax allocation
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50Ìý
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(50)
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Ìý—
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Intergroup tax (payments) receipts
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Ìý
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(225)
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225Ìý
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Ìý—
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Changes in operating assets and liabilities
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Ìý
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Ìý
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Ìý
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Ìý
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Current and other assets
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175Ìý
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1Ìý
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176Ìý
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Payables and other current liabilities
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Ìý
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(54)
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3Ìý
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(51)
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Net cash provided (used) by operating activities
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180Ìý
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217Ìý
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397Ìý
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CASH FLOWS FROM INVESTING ACTIVITIES:
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Ìý
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Ìý
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Cash proceeds from dispositions
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Ìý
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Ìý—
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25Ìý
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25Ìý
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Investments in and loans to cost and equity investees
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Ìý
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Ìý—
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(18)
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Ìý
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(18)
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Capital expended for property and equipment
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Ìý
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(41)
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Ìý
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Ìý—
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(41)
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Purchases of short term and other marketable securities
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Ìý
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Ìý—
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(106)
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(106)
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Sales of short term and other marketable securities
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Ìý—
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68Ìý
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68Ìý
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Other investing activities, net
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Ìý
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(9)
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1Ìý
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(8)
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Net cash provided (used) by investing activities
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Ìý
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(50)
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(30)
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(80)
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CASH FLOWS FROM FINANCING ACTIVITIES:
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Ìý
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Ìý
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Ìý
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Ìý
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Borrowings of debt
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Ìý
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1,551Ìý
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Ìý—
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1,551Ìý
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Repayments of debt
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(1,347)
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(5)
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(1,352)
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Repurchases of Liberty Interactive common stock
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Ìý
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(213)
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Ìý—
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(213)
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Minimum withholding taxes on net settlements of stock-based compensation
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(6)
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(2)
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(8)
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Excess tax benefit from stock-based compensation
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Ìý
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8Ìý
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Ìý
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Ìý—
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8Ìý
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Ìý
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Intergroup receipts (payments), net
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Ìý
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2Ìý
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(2)
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Ìý—
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Other financing activities, net
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Ìý
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(35)
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(2)
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(37)
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Net cash provided (used) by financing activities
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Ìý
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(40)
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(11)
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(51)
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Net cash provided (used) by discontinued operations:
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Ìý
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Ìý
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Ìý
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Ìý
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Ìý
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Ìý
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Operating
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Ìý
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Ìý
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(6)
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135Ìý
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129Ìý
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Ìý
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Investing
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Ìý
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(1)
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(153)
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(154)
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Financing
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Ìý
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Ìý—
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(13)
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(13)
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Change in available cash held by discontinued operations
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Ìý
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Ìý
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1Ìý
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31Ìý
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32Ìý
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Ìý
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Net cash provided (used) by discontinued operations
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Ìý
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Ìý
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(6)
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Ìý—
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Ìý
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(6)
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Effect of foreign currency rates on cash
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Ìý
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Ìý—
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Ìý
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Ìý—
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Ìý
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Ìý—
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Net increase (decrease) in cash and cash equivalents
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84Ìý
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Ìý
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176Ìý
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Ìý
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260Ìý
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Ìý
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Cash and cash equivalents at beginning of period
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Ìý
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Ìý
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595Ìý
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Ìý
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307Ìý
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Ìý
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902Ìý
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Ìý
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Cash and cash equivalents at end period
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$
|
679Ìý
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Ìý
|
483Ìý
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Ìý
|
1,162Ìý
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Ìý
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Ìý
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Ìý
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Ìý
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Ìý
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Ìý
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Ìý
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Ìý
|
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