Company: LBTYK
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001570585-25-000183
Chunk: 130

Company: Liberty Global Ltd.
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 8
Chunk 130
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.5 million or 6.7%, respectively, primarily due to the net effect of (i) higher average costs per employee at Telenet, (ii) lower staffing levels at Telenet and (iii) increases in incentive compensation costs.

SG&A expenses

SG&A expenses include human resources, information technology, general services, management, finance, legal, external sales and marketing costs, share-based compensation and other general expenses. We do not include share-based compensation in the following discussion and analysis of the SG&A expenses of our consolidated reportable segments as share-based compensation expense is not included in the performance measures of our consolidated reportable segments. Share-based compensation expense is separately discussed further below.

The details of our SG&A expenses are as follows:

 Three months endedJune 30,Increase (decrease)Organic decrease 20252024$%$% in millions, except percentagesTelenet$134.7 $133.4 $1.3 1.0 $(5.7)(4.3)VM Ireland14.6 14.8 (0.2)(1.4)$(1.0)(6.8)Total consolidated reportable segments149.3 148.2 1.1 0.7 Plus: all other category112.2 99.3 12.9 13.0 Less: elimination of intercompany consolidated SG&A expenses(2.1)(0.6)(1.5)N.M.Total consolidated (excluding share-based compensation expense)259.4 246.9 12.5 5.1 $(12.3)(4.8)Share-based compensation expense45.9 38.6 7.3 18.9 Total$305.3 $285.5 $19.8 6.9 

 Six months endedJune 30,Increase (decrease)Organic increase (decrease) 20252024$%$% in millions, except percentagesTelenet$260.0 $254.0 $6.0 2.4 $2.9 1.1 VM Ireland26.8 29.6 (2.8)(9.5)$(3.1)(10.5)Total consolidated reportable segments286.8 283.6 3.2 1.1 Plus: all other category227.0 193.7 33.