Company: LBTYK
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001570585-25-000021
Chunk: 304

Company: Liberty Global Ltd.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 7
Chunk 304
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.5)Total$(205.6)$(2,018.4)

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(a)Represents (i) our 50% share of the results of operations of the VodafoneZiggo JV and (ii) interest income of $55.4 million and $55.3 million, respectively, representing 100% of the interest earned on the VodafoneZiggo JV Receivables. The summarized results of operations of the VodafoneZiggo JV are set forth below:

II-19

 Year ended December 31, 20242023in millionsRevenue$4,450.5 $4,450.5 Adjusted EBITDA$2,033.9 $1,972.5 Operating income (1)$321.0 $250.5 Non-operating expense (2)$(707.3)$(865.1)Net loss$(257.1)$(510.0)

_______________

(1)Includes depreciation and amortization expense of $1,696.3 million and $1,677.2 million, respectively.

(2)Includes interest expense of $822.9 million and $787.8 million, respectively. 

The change in the VodafoneZiggo JV’s revenue during 2024, as compared to 2023, is primarily due to the net effect of (i) a decrease in residential fixed revenue, (ii) an increase in residential mobile revenue and (iii) an increase in B2B fixed revenue. The change in the VodafoneZiggo JV’s Adjusted EBITDA during 2024, as compared to 2023, is primarily due to the net effect of (a) lower energy costs, (b) an increase in wage costs and (c) an increase in programming costs. In addition, the reported revenue and Adjusted EBITDA amounts are impacted by FX.

(b)Includes our share of results of Formula E prior to the Formula E Acquisition Date.

(c)Represents (i) our 50% share of the results of operations of the VMO2 JV and (ii) 100% of the share-based compensation expense associated with Liberty Global awards granted to VMO2 JV employees who were formerly employees of Liberty Global prior to the VMO2 JV formation, as these awards remain our responsibility. The summarized results of operations of the VMO2 JV are set forth below:

Year ended December 31,20242023in millionsRevenue$13,649.