Company: LBTYK
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001570585-25-000223
Chunk: 92

Company: Liberty Global Ltd.
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 92
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 allowances in Luxembourg of $86.0 million (2.0%).

37

LIBERTY GLOBAL LTD.Notes to Condensed Consolidated Financial Statements — (Continued)September 30, 2025(unaudited)

The effective tax rate for the three months ended September 30, 2024 was 0.8% (income tax benefit of $11.2 million), which differs from the U.K. statutory rate of 25.0% (income tax benefit of $358.7 million). This difference is primarily due to the negative impacts of (i) non-deductible net foreign currency exchange losses in the U.K. of $267.2 million (18.6%) and (ii) and non-deductible net losses from investments in the Netherlands of $62.3 million (4.3%).The effective tax rate for the nine months ended September 30, 2024 was (14.8%) (income tax expense of $59.8 million), which differs from the U.K. statutory rate of 25.0% (income tax benefit of $101.3 million). This difference is primarily due to the negative impacts of (i) certain non-taxable or non-deductible items in the Netherlands, the U.K. and Belgium of $76.6 million (18.9%), (ii) non-deductible net losses from investments in the Netherlands of $57.2 million (14.1%) and (iii) non-deductible net foreign currency exchange losses in the U.K. of $54.3 million (13.4%). The negative impacts of these items were partially offset by the positive impact of a net decrease in valuation allowances in the U.K. and Netherlands of $41.3 million (10.2%).On July 4, 2025, the One Big Beautiful Bill Act (the OBBBA) was enacted in the U.S., introducing various changes to federal tax law. We have evaluated the provisions of the OBBBA and determined that they did not have a material impact on our consolidated financial statements through September 30, 2025, nor do we currently anticipate that the OBBBA will have a material impact on our consolidated financial statements in the future. As of September 30, 2025, our unrecognized tax benefits were $141.7 million, of which $102.7 million would have a favorable impact on our effective income tax rate if ultimately recognized, after considering amounts that we would expect