Company: LBTYK
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001570585-25-000223
Chunk: 22

Company: Liberty Global Ltd.
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 2
Chunk 22
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114.8 4.7 4.1 Total$893.9 $818.5 $75.4 9.2 

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N.M. — Not Meaningful.

67

Supplemental SG&A expense information

 Three months endedSeptember 30,Increase (decrease)Organic increase (decrease) 20252024$%$% in millions, except percentagesGeneral and administrative (a)$191.9 $154.0 $37.9 24.6 $8.9 5.1 External sales and marketing73.0 74.5 (1.5)(2.0)(5.0)(6.8)Total$264.9 $228.5 $36.4 15.9 $3.9 1.6 

 Nine months endedSeptember 30,IncreaseOrganic increase (decrease) 20252024$%$% in millions, except percentagesGeneral and administrative (a)$531.2 $481.0 $50.2 10.4 $2.5 0.5 External sales and marketing243.2 222.7 20.5 9.2 (10.2)(4.1)Total$774.4 $703.7 $70.7 10.0 $(7.7)(1.0)

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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 $36.4 million or 15.9% and $70.7 million or 10.0% during the three and nine months ended September 30, 2025, respectively, as compared to the corresponding periods in 2024, including increases of $18.5 million and $58.1 million, respectively, attributable to the impact of the Formula E Acquisition. On an organic basis, our SG&A expenses increased (decreased) $3.9 million or 1.6% and ($7.7 million) or (1.0%), respectively. These changes include the following factors:

•Decreases in external sales and marketing costs of $5.0 million or 6.8% and $10.2 million or 4.1%, respectively, primarily due to the net effect of