Company: LBTYK
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001570585-25-000114
Chunk: 49

Company: Liberty Global Ltd.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 49
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 generally recognized over the term of such contracts, which is typically 12 months for our residential service contracts, one to three years for our mobile service contracts and one to five years for our B2B service contracts. The average remaining contractual term for B2B non-subscription services is approximately three years.

(4)    Acquisitions and Dispositions

Formula E AcquisitionOn October 2, 2024 (the Formula E Acquisition Date), we gained control of Formula E through the acquisition of the Formula E shares held by Warner Bros. Discovery, Inc. (Warner Bros. Discovery) and certain other minority shareholders, which increased our ownership interest in Formula E from 38.2% to 65.6% (the Formula E Acquisition). The total purchase price for these additional shares totaled €150.0 million ($165.7 million at the transaction date). We also acquired Warner Bros. Discovery’s €50.0 million ($55.6 million at the transaction date) shareholder loan to Formula E upon closing of the transaction. Liberty Global began consolidating 100% of Formula E’s results from the Formula E Acquisition Date.

12

LIBERTY GLOBAL LTD.Notes to Condensed Consolidated Financial Statements — (Continued)March 31, 2025(unaudited)

Pro Forma InformationThe following unaudited pro forma consolidated operating results for the three months ended March 31, 2024 give effect to the Formula E Acquisition as if it had been completed as of January 1, 2023. These pro forma amounts are not necessarily indicative of the operating results that would have occurred if the Formula E Acquisition had occurred on such date. The pro forma adjustments are based on certain assumptions that we believe are reasonable. Revenue (in millions)$1,225.6 Net earnings from continuing operations attributable to Liberty Global shareholders (in millions)$626.9 Basic earnings from continuing operations attributable to Liberty Global shareholders per share$1.66 Diluted earnings from continuing operations attributable to Liberty Global shareholders per share$1.63 Spin-offOn November 8, 2024, we completed the Spin-off, following a series of transactions that resulted in the transfer of the Sunrise Entities to an independent, separate publicly-traded Swiss company, Sunrise Communications AG (the Spin-off). No gain or loss has been recognized in connection with the Spin-off.The Spin-off was accomplished through the distribution of Sunrise common shares, in the form of Sunrise American depository shares (ADSs),