Company: LBTYK
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001570585-25-000021
Chunk: 308

Company: Liberty Global Ltd.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 7
Chunk 308
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 of operations of Wyre. The 2023 amount is primarily attributable to the results of operations of Telenet prior to the Telenet Takeover Bid.  

II-22

Liquidity and Capital Resources

Sources and Uses of Cash

We are a holding company that is dependent on the capital resources of our subsidiaries to satisfy our liquidity requirements at the corporate level. Each of our significant operating subsidiaries is separately financed within one of our two subsidiary “borrowing groups”. These borrowing groups include the respective restricted parent and subsidiary entities within Telenet and VM Ireland. Although our borrowing groups typically generate cash from operating activities, the terms of the instruments governing the indebtedness of these borrowing groups may restrict our ability to access the liquidity of these subsidiaries. In addition, our ability to access the liquidity of these and other subsidiaries may be limited by tax and legal considerations, the presence of noncontrolling interests and other factors. 

Cash, cash equivalents and SMAs

The details of the U.S. dollar equivalent balances of our consolidated cash and cash equivalents and investments held under SMAs at December 31, 2024 are set forth in the following table (in millions):

Cash and cash equivalents held by:Liberty Global and unrestricted subsidiaries:Liberty Global (a)$3.6 Unrestricted subsidiaries (b)690.7 Total Liberty Global and unrestricted subsidiaries694.3 Borrowing groups (c):Telenet1,109.7 VM Ireland12.3 Total borrowing groups1,122.0 Total cash and cash equivalents (d)1,816.3 Investments held under SMAs (e)433.1 Total cash and cash equivalents and investments held under SMAs$2,249.4 

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(a)Represents the amount held by Liberty Global on a standalone basis.

(b)Represents the aggregate amount held by subsidiaries that are outside of our borrowing groups. 

(c)Represents the aggregate amounts held by the parent entity and restricted subsidiaries of our borrowing groups.

(d)The total cash and cash equivalents balance includes $1,207.2 million or 66.5% and $565.3 million or 31.1% denominated in euros and U.S. dollars, respectively.

(e)The balance of our investments held under SMAs is held by unrestricted subsidiaries of Liberty Global and includes $408.9 million or 94.4% denominated in U.S. dollars.

For additional information regarding our cash and cash equivalents