Company: LBTYK
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001570585-25-000021
Chunk: 110

Company: Liberty Global Ltd.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 9C
Chunk 110
---
 the right to initiate a sale of all of its interest in the VodafoneZiggo JV to a third party and, under certain circumstances, initiate a sale of the entire VodafoneZiggo JV, subject, in each case, to a right of first offer in favor of the other NL JV Shareholder.Pursuant to an agreement (the NL JV Framework Agreement), Liberty Global provides certain services to the VodafoneZiggo JV (collectively, the NL JV Services). The NL JV Services provided by Liberty Global consist primarily of (i) technology and other services and (ii) capital-related expenditures for assets that will be used by, or will otherwise benefit, the 

II-74

LIBERTY GLOBAL LTD.Notes to Consolidated Financial Statements — (Continued)December 31, 2024, 2023 and 2022

VodafoneZiggo JV. Liberty Global charges both fixed and usage-based fees to the VodafoneZiggo JV for the NL JV Services provided during the term of the NL JV Framework Agreement. During 2024, 2023 and 2022, we recorded revenue from the VodafoneZiggo JV of $192.4 million, $191.9 million and $263.9 million, respectively, primarily related to (a) the NL JV Services and (b) the sale of customer premises equipment (CPE) to the VodafoneZiggo JV at a mark-up. At December 31, 2024 and 2023, $18.5 million and $24.2 million, respectively, was due from the VodafoneZiggo JV related to the aforementioned transactions. The amounts due from the VodafoneZiggo JV, which are periodically cash settled, are included in other current assets on our consolidated balance sheets. The summarized results of operations of the VodafoneZiggo JV are set forth below:Year ended December 31,202420232022in millionsRevenue$4,450.5 $4,450.5 $4,284.6 Earnings (loss) before income taxes$(386.3)$(614.6)$608.3 Net earnings (loss)$(257.1)$(510.0)$394.7 The summarized financial position of the VodafoneZiggo JV is set forth below: December 31,20242023in millionsCurrent assets$1,551.7 $923.6 Long-term assets17,074.3