(13) Other Comprehensive Earnings (Loss) Accumulated other comprehensive earnings (loss) included in the Company’s consolidated balance sheets and consolidated statements of equity reflect the aggregate of foreign currency translation adjustments, comprehensive earnings (loss) attributable to debt credit risk adjustments and the Company's share of accumulated other comprehensive earnings of affiliates. The change in the components of accumulated other comprehensive earnings (loss), net of taxes ("AOCI"), is summarized as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Foreign
currency
translation
adjustments | | Share of
AOCI
of equity
affiliates | | Comprehensive
Earnings (loss)
Attributable to
Credit Risk
Adjustments | | Other1 | | AOCI | | | | | | | | | | | | amounts in millions | | Balance at December 31, 2022 | $ | (349) | | | (5) | | | 298 | | | 74 | | | 18 | | | Other comprehensive earnings (loss) attributable to QVC Group, Inc. stockholders | 23 | | | 5 | | | 84 | | | (44) | | | 68 | | | Balance at December 31, 2023 | $ | (326) | | | — | | | 382 | | | 30 | | | 86 | | | Other comprehensive earnings (loss) attributable to QVC Group, Inc. stockholders | (80) | | | — | | | (21) | | | — | | | (101) | | | Balance at December 31, 2024 | $ | (406) | | | — | | | 361 | | | 30 | | | (15) | | | Other comprehensive earnings (loss) attributable to QVC Group, Inc. stockholders | 108 | | | — | | | 206 | | | (8) | | | 306 | | | Balance at December 31, 2025 | $ | (298) | | | — | | | 567 | | | 22 | | | 291 | |
(1) Recognition of previously unrealized losses (gains) on debt, net of taxes The components of other comprehensive earnings (loss) are reflected in QVC Group's consolidated statements of comprehensive earnings (loss) net of taxes. The following table summarizes the tax effects related to each component of other comprehensive earnings (loss). | | | | | | | | | | | | | | | | | | | Before-tax
amount | | Tax
(expense)
benefit | | Net-of-tax
amount | | | | | | | | amounts in millions | | Year ended December 31, 2025: | | | | | | | Foreign currency translation adjustments | $ | 113 | | | (5) | | | 108 | | Recognition of previously unrealized losses (gains) on debt, net1 | (10) | | | 2 | | | (8) | | | Comprehensive earnings (loss) attributable to credit risk adjustments | 270 | | | (64) | | | 206 | | | Other comprehensive earnings (loss) | $ | 373 | | | (67) | | | 306 | | | Year ended December 31, 2024: | | | | | | | Foreign currency translation adjustments | $ | (82) | | | (5) | | | (87) | | | Comprehensive earnings (loss) attributable to credit risk adjustments | (27) | | | 6 | | | (21) | | | Other comprehensive earnings (loss) | $ | (109) | | | 1 | | | (108) | | | Year ended December 31, 2023: | | | | | | | Foreign currency translation adjustments | $ | 17 | | | (2) | | | 15 | | Recognition of previously unrealized losses (gains) on debt, net1 | (60) | | | 17 | | | (43) | | | Comprehensive earnings (loss) attributable to credit risk adjustments | 111 | | | (27) | | | 84 | | | Other | 5 | | | — | | | 5 | | | Other comprehensive earnings (loss) | $ | 73 | | | (12) | | | 61 | |
(1) Previously unrealized losses (gains) on debt are recognized before-tax in realized and unrealized gains (losses) on financial instruments and the related tax (expense) benefit is recognized in income tax (expense) benefit in the consolidated statement of operations. |