v3.26.1
Intangible Assets
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Intangible Assets
(6) Intangible Assets
Goodwill
Changes in the carrying amount of goodwill for the six months ended June 30, 2026 were as follows:
QVC Int'l
amounts in millions
Balance at December 31, 2025$800 
Foreign currency translation adjustments(23)
Balance at June 30, 2026$777 
As of June 30, 2026 and December 31, 2025, there were no goodwill balances at QxH and CBI.
Intangible Assets
Other intangible assets consist of the following:
June 30, 2026December 31, 2025
Gross carrying amountAccumulated amortizationIntangible assets, netGross carrying amountAccumulated amortizationIntangible assets, net
amounts in millions
Purchased and internally developed software$1,165 (980)185 1,230 (1,015)215 
Affiliate and customer relationships2,830 (2,806)24 2,835 (2,788)47 
Television distribution rights155 (105)50 161 (93)68 
Other46 (42)4 54 (48)6 
Intangible assets subject to amortization$4,196 (3,933)263 4,280 (3,944)336 
Tradenames (indefinite life)$1,190 1,190 1,190 1,190 
As of June 30, 2026, QVC Group expects that amortization expense will be as follows for the next five years (amounts in millions):
Remainder of 2026$113 
202793 
202841 
202911 
20302 
20313 
\\\
Impairments
As a result of financial performance, macroeconomic conditions, declines in stock price and credit rating downgrades, it was determined during the second quarter of 2025 that an indication of impairment existed for the QxH reporting unit including goodwill and the QVC and HSN tradenames. The fair value of the tradenames was determined using the relief from royalty method, primarily using a discounted cash flow model using projections of future operating performance (income approach) and applying a royalty rate (market approach) (Level 3), and an impairment in the amount of $930 million for the QVC and HSN tradenames was recorded during the second quarter of 2025, in impairment of intangible assets in the consolidated statements of operations. The fair value of the QxH reporting unit was determined using a discounted cash flow method (Level 3), and a goodwill impairment in the amount of $1,465 million was recorded during the second quarter of 2025 in impairment of goodwill in the consolidated statements of operations.
The Company had accumulated goodwill impairment losses of $5,228 million attributed to the QxH reporting unit as of June 30, 2026.