Company: LBTYK
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001570585-25-000114
Chunk: 69

Company: Liberty Global Ltd.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 69
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)For information regarding the Vodafone Collar Loan, see note 5.(f)Represents amounts owed to various creditors pursuant to interest-bearing vendor financing arrangements that are used to finance certain of our property and equipment additions and operating expenses. These arrangements extend our repayment terms beyond a vendor’s original due dates (e.g., extension beyond a vendor’s customary payment terms, which are generally 90 days or less) and as such are classified outside of accounts payable as debt on our condensed consolidated balance sheets. These obligations are generally due within one year and include VAT that was also financed under these arrangements. For purposes of our condensed consolidated statements of cash flows, operating-related expenses financed by an intermediary are treated as constructive operating cash outflows and constructive financing cash inflows when the intermediary settles the liability with the vendor as there is no actual cash outflow until we pay the financing intermediary. During the three months ended March 31, 2025 and 2024, the constructive cash outflow included in cash flows from operating activities and the corresponding constructive cash inflow included in cash flows from financing activities related to these operating expenses were $71.2 million and $97.4 million, respectively. Repayments of vendor financing obligations at the time we pay the financing intermediary are included in repayments and repurchases of debt and finance lease obligations in our condensed consolidated statements of cash flows.(g)Amounts include (i) $215.1 million and $195.8 million at March 31, 2025 and December 31, 2024, respectively, of debt collateralized by certain trade receivables of Telenet and (ii) $397.0 million and $390.5 million at March 31, 2025 and December 31, 2024, respectively, of liabilities related to Telenet’s acquisition of mobile spectrum licenses. Telenet will make annual payments for the license fees over the terms of the respective licenses.(h)As of March 31, 2025 and December 31, 2024, our debt had an estimated fair value of $9.3 billion and $9.0 billion, respectively. The estimated fair values of our debt instruments are generally determined using the average of applicable bid and ask prices (mostly Level 1 of the fair value hierarchy). For additional information regarding fair value hierarchies, see note 7.

29

LIBERTY GLOBAL LTD.Notes to Condensed Consolidated Financial Statements — (Continued)March 31, 2025