v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Net earnings (loss) $ (2,187) $ 128
Adjustments to reconcile net earnings (loss) to net cash provided (used) by operating activities:    
Depreciation and amortization 193 180
Goodwill and Intangible Asset Impairment 2,395 0
Stock-based compensation 8 14
Gain on sale leaseback transaction 0 (1)
Change in fair value of financial instruments and noncash interest (1) (1)
Deferred income tax expense (benefit) (230) (2)
Other charges, net 64 45
Decrease (increase) in trade and other receivables 315 394
Decrease (increase) in inventories (85) (96)
Decrease (increase) in other current assets 31 13
(Decrease) increase in accounts payable (157) (134)
(Decrease) increase in accrued and other liabilities (248) (292)
Net cash provided (used) by operating activities 98 248
Cash flows from investing activities:    
Capital expenditures (63) (81)
Expenditures for television distribution rights (88) (13)
Proceeds from sale of fixed assets 0 6
Other investing activities, net (7) (3)
Net cash provided (used) by investing activities (158) (91)
Cash flows from financing activities:    
Borrowings of debt 1,011 1,660
Repayments of debt (867) (1,715)
Dividends paid to noncontrolling interest (22) (22)
Other financing activities, net (2) (1)
Net cash provided (used) by financing activities 78 (128)
Effect of foreign currency exchange rate changes on cash, cash equivalents and restricted cash 27 (21)
Net increase (decrease) in cash, cash equivalents and restricted cash 45 8
Cash, cash equivalents and restricted cash, beginning of period 315 322
Cash, cash equivalents and restricted cash, end of period 360 330
Qurate    
Cash flows from financing activities:    
Dividends paid to QVC Group, Inc. $ (42) $ (50)