jvidÊÓƵ

Annual report pursuant to Section 13 and 15(d)

Goodwill and Other Intangible Assets (Tables)

v3.10.0.1
Goodwill and Other Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract] Ìý
Changes In The Carrying Amount Of Goodwill

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Ìý

ÌýÌýÌýÌý

QVC U.S.

Ìý

QVC International

Ìý

zulily

Ìý

HSN

ÌýÌýÌýÌý

Corporate and Other

ÌýÌýÌýÌý

Total

Ìý

Ìý

Ìý

amountsÌýinÌýmillions

Ìý

Balance at January 1, 2017

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$

4,305

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805

Ìý

917

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Ìý—

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25

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6,052

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Acquisition (1)

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Ìý

Ìý—

Ìý

Ìý—

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Ìý—

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933

Ìý

17

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950

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Foreign currency translation adjustments

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Ìý

Ìý—

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80

Ìý

Ìý—

Ìý

Ìý—

Ìý

Ìý—

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80

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Balance at December 31, 2017

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Ìý

4,305

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885

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917

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933

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42

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7,082

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Foreign currency translation adjustments

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Ìý

Ìý—

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(25)

Ìý

Ìý—

Ìý

Ìý—

Ìý

Ìý—

Ìý

(25)

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Disposition (2)

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Ìý

Ìý—

Ìý

Ìý—

Ìý

Ìý—

Ìý

Ìý—

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(26)

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(26)

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Other (3)

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Ìý

Ìý—

Ìý

Ìý—

Ìý

Ìý—

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(10)

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(4)

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(14)

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Balance at December 31, 2018

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$

4,305

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860

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917

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923

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12

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7,017

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(1)

As discussed in note 4, on December 29, 2017, the Company acquired the approximately 62% of HSN it did not already own in an all-stock transaction making HSN a wholly-owned subsidiary. The acquisition resulted in an increase to goodwill of $950 million.

(2)

As a result of the GCI Liberty Split-Off on March 9, 2018, the Company disposed of its wholly-owned subsidiary Evite, resulting in a $26 million decrease to goodwill.

(3)

As discussed in note 4, the preliminary purchase price allocation for the HSN acquisition was adjusted, resulting in a decrease to goodwill.

Schedule of Intangible assets subject to amortization

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DecemberÌý31,Ìý2018

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DecemberÌý31,Ìý2017

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Ìý

ÌýÌýÌýÌý

Gross

ÌýÌýÌýÌý

ÌýÌýÌýÌý

ÌýÌýÌýÌý

Net

ÌýÌýÌýÌý

Gross

ÌýÌýÌýÌý

ÌýÌýÌýÌý

ÌýÌýÌýÌý

Net

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carrying

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Accumulated

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carrying

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carrying

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Accumulated

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carrying

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amount

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amortization

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amount

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amount

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amortization

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amount

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amountsÌýinÌýmillions

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Television distribution rights

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$

723

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(583)

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140

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730

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(652)

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78

Ìý

Customer relationships

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3,320

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(2,768)

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552

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3,356

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(2,626)

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730

Ìý

Other

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Ìý

1,329

Ìý

(963)

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366

Ìý

1,268

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(828)

Ìý

440

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Total

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$

5,372

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(4,314)

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1,058

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5,354

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(4,106)

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1,248

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Ìý

Amortization Expense For The Next Five Fiscal Years

Based on its amortizable intangible assets as of DecemberÌý31, 2018, jvidÊÓƵ expects that amortization expense will be as follows for the next five years (amounts in millions):

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2019

ÌýÌýÌýÌý

$

318

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2020

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$

240

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2021

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$

166

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2022

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$

78

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2023

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$

76

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Ìý