QVC Inc. Files 10-Q for Q2 2024
Ticker: QVCC · Form: 10-Q · Filed: Aug 8, 2024 · CIK: 1254699
| Field | Detail |
|---|---|
| Company | Qvc Inc (QVCC) |
| Form Type | 10-Q |
| Filed Date | Aug 8, 2024 |
| Risk Level | medium |
| Pages | 16 |
| Reading Time | 20 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, retail
TL;DR
QVC Inc. 10-Q filed. Financials for Q2 2024 detailed.
AI Summary
QVC Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the company. Specific financial figures and strategic information are presented within the report.
Why It Matters
This filing provides investors and analysts with a detailed look at QVC Inc.'s financial health and operational status during the second quarter of 2024.
Risk Assessment
Risk Level: medium — The filing is a standard quarterly report, but the nature of retail and potential economic factors can introduce medium-level risks.
Key Numbers
- 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter being reported.)
- 20240808 — Filing Date (The date the report was officially submitted to the SEC.)
Key Players & Entities
- QVC INC (company) — Filer of the 10-Q
- 20240630 (date) — End of the reporting period
- 20240808 (date) — Filing date
- WEST CHESTER, PA (location) — Company's mailing address
FAQ
What is the primary business of QVC Inc. as indicated by its SIC code?
QVC Inc.'s Standard Industrial Classification (SIC) code is 5961, which corresponds to RETAIL-CATALOG & MAIL-ORDER HOUSES.
What is the fiscal year end for QVC Inc.?
QVC Inc.'s fiscal year ends on December 31 (1231).
What is the SEC file number for QVC Inc.?
The SEC file number for QVC Inc. is 001-38654.
What is the state of incorporation for QVC Inc.?
QVC Inc. is incorporated in Delaware (DE).
What is the mailing address of QVC Inc.?
The mailing address for QVC Inc. is 1200 WILSON DRIVE AT STUDIO PARK, WEST CHESTER, PA 19380.
Filing Stats: 4,904 words · 20 min read · ~16 pages · Grade level 14.1 · Accepted 2024-08-08 14:54:36
Filing Documents
- qvc-20240630.htm (10-Q) — 979KB
- qvc_exhibit3116302024.htm (EX-31.1) — 10KB
- qvc_exhibit3126302024.htm (EX-31.2) — 10KB
- qvc_exhibit321x6302024.htm (EX-32.1) — 6KB
- 0001254699-24-000018.txt ( ) — 5188KB
- qvc-20240630.xsd (EX-101.SCH) — 39KB
- qvc-20240630_cal.xml (EX-101.CAL) — 74KB
- qvc-20240630_def.xml (EX-101.DEF) — 234KB
- qvc-20240630_lab.xml (EX-101.LAB) — 401KB
- qvc-20240630_pre.xml (EX-101.PRE) — 324KB
- qvc-20240630_htm.xml (XML) — 672KB
Financial Statements (unaudited)
Item 1. Financial Statements (unaudited) 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations 2 Condensed Consolidated Statements of Comprehensive Income 3 Condensed Consolidated Statements of Cash Flows 4 Condensed Consolidated Statement s of Equity 5 Notes to the Condensed Consolidated Financial Statements (unaudited) 7
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 19
Quantitative and Qualitative Disclosures about Market Risk
Item 3. Quantitative and Qualitative Disclosures about Market Risk 33
Controls and Procedures
Item 4. Controls and Procedures 34 Part II
Other Information
Item 5. Other Information 34
Exhibits
Item 6. Exhibits 35
Financial Statements
Item 1. Financial Statements QVC, Inc. Condensed Consolidated Balance Sheets (unaudited) June 30, December 31, (in millions, except share amounts) 2024 2023 Assets Current assets: Cash and cash equivalents $ 315 307 Restricted cash 15 15 Accounts receivable, less allowance for credit losses of $ 84 at June 30, 2024 and $ 101 at December 31, 2023 884 1,295 Inventories 950 860 Prepaid expenses and other current assets 152 162 Total current assets 2,316 2,639 Property and equipment, net of accumulated depreciation of $ 915 at June 30, 2024 and $ 908 at December 31, 2023 398 427 Operating lease right-of-use assets (note 5) 495 510 Television distribution rights, net (note 2) 61 83 Goodwill (note 3) 3,113 3,151 Other intangible assets, net (note 3) 3,070 3,111 Note receivable - related party (note 1) 1,740 1,740 Other noncurrent assets 48 54 Assets held for sale noncurrent (note 5) — 5 Total assets $ 11,241 11,720 Liabilities and equity Current liabilities: Current portion of debt and finance lease obligations (note 4) $ 586 424 Accounts payable-trade 694 838 Accrued liabilities 739 938 Other current liabilities 49 51 Total current liabilities 2,068 2,251 Long-term portion of debt and finance lease obligations (note 4) 3,695 3,911 Deferred income taxes (note 6) 557 621 Long-term operating lease liabilities 483 488 Other long-term liabilities 106 112 Total liabilities 6,909 7,383 Commitments and contingencies (note 7) Equity: QVC, Inc. stockholder's equity: Common stock, $ 0.01 par value, 1 authorized share — — Additional paid-in capital 10,913 10,901 Accumulated deficit ( 6,307 ) ( 6,361 ) Accumulated other comprehensive loss ( 353 ) ( 290 ) Total QVC, Inc. stockholder's equity 4,253 4,250 Noncontrolling interest 79 87 Total equity 4,332 4,337 Total liabilities and equity $ 11,241 11,720 1 Table of Contents QVC, Inc. Condensed Consolidated Statements of Operations (unaudited) Three months ended June 30, Six months