Company: LBTYK
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001570585-25-000021
Chunk: 95

Company: Liberty Global Ltd.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 9C
Chunk 95
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 Fair value of the noncontrolling interest in Formula E (c)$209.0 _______________(a)Represents the total purchase consideration in connection with the Formula E Acquisition, which includes the shareholder loan acquired from Warner Bros. Discovery, as described above.(b)Represents the fair value of our pre-existing investment in Formula E immediately prior to the Formula E Acquisition, including our €80.5 million ($88.9 million at the transaction date) shareholder loan to Formula E.(c)Represents the fair value of the noncontrolling interest in Formula E as of the Formula E Acquisition Date. 

II-64

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

A summary of the preliminary amounts of identifiable assets acquired and liabilities assumed at the Formula E Acquisition Date is presented in the following table (in millions). These figures are subject to adjustment based on our final assessment of the fair values of the acquired identifiable assets and liabilities. Although most items in the valuation process remain open, the items with the highest likelihood of changing upon finalization of the valuation process relate to goodwill, certain intangible assets and their respective estimated useful lives and income taxes.Current assets (a)$104.1 Property and equipment, net32.1 Intangible assets subject to amortization, net (b)686.0 Other assets, net23.4 Other accrued and current liabilities(167.5)Deferred tax liabilities(117.9)Other long-term liabilities(12.0)Total identifiable net assets$548.2 Goodwill (c)$198.7 _______________(a)In connection with the Formula E Acquisition, we acquired $22.2 million of cash and cash equivalents, including restricted cash.(b)Amount primarily includes an intangible asset related to a licensing agreement with the Federation Internationale l’Automobile (FIA) that provides Formula E with the exclusive rights to operate an electric motor racing championship. As of the Formula E Acquisition Date, the weighted average useful life of Formula E’s intangible assets was approximately 33 years. (c)The goodwill recognized in connection with the Formula E Acquisition primarily represents the future economic benefits expected to arise from other intangible assets acquired that do not qualify for separate recognition, including assembled workforce, value associated with future sponsors, continued innovation and non-contractual relationships.In connection with the Formula E Acquisition, we also recognized a gain