| Intangible Assets Changes in the carrying amount of goodwill for the three months ended March 31, 2026 were as follows: | | | | | | | | | (in millions) | | QVC-Int'l | | | Balance as of December 31, 2025 | | $ | 800 | | | | | | | | Exchange rate fluctuations | | (18) | | | | Balance as of March 31, 2026 | | $ | 782 | | |
As of March 31, 2026 and December 31, 2025, there were no goodwill balances at QxH. Other intangible assets consisted of the following: | | | | | | | | | | | | | | | | | | | | | | March 31, 2026 | December 31, 2025 | | (in millions) | Gross
cost | Accumulated
amortization | Intangible assets subject to amortization, net | Gross
cost | Accumulated
amortization | Intangible assets subject to amortization, net | | Purchased and internally developed software | $ | 1,128 | | (943) | | 185 | | 1,116 | | (917) | | 199 | | | Affiliate and customer relationships | 2,831 | | (2,795) | | 36 | | 2,835 | | (2,788) | | 47 | | | Television distribution rights | 155 | | (98) | | 57 | | 161 | | (93) | | 68 | | | Debt origination fees | 9 | | (8) | | 1 | | 9 | | (8) | | 1 | | | Intangible assets subject to amortization | $ | 4,123 | | (3,844) | | 279 | | 4,121 | | (3,806) | | 315 | | | Tradenames (indefinite life) | $ | 1,190 | | | 1,190 | | 1,190 | | | 1,190 | |
As of March 31, 2026, the related amortization expense will be as follows for the next five years (in millions): | | | | | | | Remainder of 2026 | $ | 161 | | | 2027 | 77 | | | 2028 | 35 | | | 2029 | 6 | | | 2030 | — | |
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