Company: LBTYK
Filing Date: 2025-03-25
Form Type: 10-K/A
Source: 0001570585-25-000097
Chunk: 23

Company: Liberty Global Ltd.
Filing Date: 2025-03-25
Form: 10-K/A
Chunk 23
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 the substantive contract term for the related service contract.

Promotional Discounts. For subscriber promotions, such as discounted or free services during an introductory period, revenue is recognised uniformly over the contractual period if the contract has substantive termination penalties. If a contract does not have substantive termination penalties, revenue is recognised only to the extent of the discounted monthly fees charged to the subscriber, if any.

Subscriber Advance Payments. Payments received in advance for the services we provide are deferred and recognised as revenue when the associated services are provided.

Sales and Other Value-Added Taxes ( VAT ) . Revenue is recorded net of applicable sales and other VAT.

For additional information regarding our revenue recognition and related costs, see note 4. For a disaggregation of our revenue by major category, see note 18.

#### Share-based Compensation
We recognise all share-based and long-term incentive payments from Liberty Global and Telefónica to our employees, including grants of employee share-based incentive awards, on a fair value basis. We recognise share-based compensation expense as a charge to operations over the vesting period using the accelerated expense attribution method. Our outstanding share awards contain a performance condition and vest on a graded basis. Where borne by our Company, payroll taxes incurred in connection with the vesting or exercise of share-based incentive awards are recorded as a component of share-based compensation expense in our consolidated statements of operations.

For additional information regarding our share-based compensation, see note 13.

<div align='center'>IV-22</div>

#### VMED O2 UK LIMITED

### Notes to Consolidated Financial Statements — (Continued)

#### 31 December 2024, 2023 and 2022
(4) Revenue Recognition and Related Costs

#### Contract Balances
If we transfer goods or services to a customer but do not have an unconditional right to payment, we record a contract asset. Contract assets typically arise from the uniform recognition of introductory promotional discounts over the contract period and accrued revenue for handset sales. Our contract assets were £759.0 million and £722.6 million as of 31 December 2024 and 2023, respectively. The current and long-term portions of our contract assets are included within other current assets and other assets, net, respectively, on our consolidated balance sheets.

We record a contract liability when we receive payment prior to transferring goods or services to a customer, primarily for (i) installation and other upfront services and (ii) other services that are invoiced prior to when services are provided. Our contract liabilities were £490.0 million and