Company: LBTYK
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001570585-25-000021
Chunk: 298

Company: Liberty Global Ltd.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 7
Chunk 298
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)Total consolidated reportable segments574.1 534.4 39.7 7.4 Plus: all other category418.6 395.0 23.6 6.0 Less: elimination of intercompany consolidated SG&A expenses(4.6)(3.7)(0.9)N.M.Total consolidated (excluding share-based compensation expense)988.1 925.7 62.4 6.7 $43.2 4.6 Share-based compensation expense150.5 193.5 (43.0)(22.2)Total consolidated$1,138.6 $1,119.2 $19.4 1.7 

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N.M. — Not Meaningful.

Supplemental SG&A expense information

 Year ended December 31,IncreaseOrganic increase 20242023$%$% in millions, except percentagesGeneral and administrative (a)$686.6 $637.4 $49.2 7.7 $29.9 4.6 External sales and marketing301.5 288.3 13.2 4.6 13.3 4.6 Total$988.1 $925.7 $62.4 6.7 $43.2 4.6 

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(a)General and administrative expenses include all personnel-related costs within our SG&A expenses, including personnel-related costs associated with our sales and marketing function.

Our SG&A expenses (exclusive of share-based compensation expense) increased $62.4 million or 6.7% during 2024, as compared to 2023. This increase includes an increase of $14.7 million attributable to the impact of the Formula E Acquisition. On an organic basis, our SG&A expenses increased $43.2 million or 4.6%. This increase includes the following factors:

•An increase in personnel costs of $29.7 million or 6.2%, primarily at Telenet, due to (i) an increase in temporary personnel costs and (ii) higher average costs per employee; and

•An increase in external sales and marketing costs of $13.3 million or 4.6%, primarily due to higher costs associated with advertising campaigns at Telenet.

II-15

Share-based compensation expense

Our share-based compensation expense primarily relates to the share-based incentive awards issued by Liberty Global to its employees and employees