Company: LBTYK
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001570585-25-000223
Chunk: 133

Company: Liberty Global Ltd.
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 133
---
 primarily due to the net effect of (i) higher average costs per employee, including increases at Telenet, (ii) lower staffing levels, including decreases at Telenet, and (iii) increases in incentive compensation costs; and

•For the three-month comparison, a decrease in business service costs of $3.5 million or 17.8%, primarily due to (i) lower energy costs, primarily due to a decrease at Telenet, and (ii) lower consulting 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 endedSeptember 30,IncreaseOrganic increase (decrease) 20252024$%$% in millions, except percentagesTelenet$131.8 $123.2 $8.6 7.0 $0.8 0.6 VM Ireland15.1 14.8 0.3 2.0 $(0.7)(4.7)Total consolidated reportable segments146.9 138.0 8.9 6.4 Plus: all other category120.0 93.2 26.8 28.8 Less: elimination of intercompany consolidated SG&A expenses(2.0)(2.7)0.7 N.M.Total consolidated (excluding share-based compensation expense)264.9 228.5 36.4 15.9 $3.9 1.6 Share-based compensation expense43.1 41.8 1.3 3.1 Total$308.0 $270.3 $37.7 13.9 

 Nine months endedSeptember 30,Increase (decrease)Organic increase (decrease) 20252024$%$% in millions, except percentagesTelenet$391.8 $377.2 $14.6 3.9 $3.7 1.0 VM Ireland41.9 44.4 (2.5