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

Company: Liberty Global Ltd.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 2
Chunk 25
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 and investments held under SMAs at March 31, 2025 are set forth in the following table (in millions):

Cash and cash equivalents held by:Liberty Global and unrestricted subsidiaries:Liberty Global (a)$0.5 Unrestricted subsidiaries (b)849.3 Total Liberty Global and unrestricted subsidiaries849.8 Borrowing groups (c):Telenet1,119.9 VM Ireland12.9 Total borrowing groups1,132.8 Total cash and cash equivalents (d)1,982.6 Investments held under SMAs (e)77.9 Total cash and cash equivalents and investments held under SMAs$2,060.5 

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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 $1,214.3 million or 61.2% and $742.0 million or 37.4% 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 $69.7 million or 89.5% denominated in U.S. dollars.

For additional information regarding our cash and cash equivalents and investments held under SMAs, see the discussion under Part I, Item 3. Quantitative and Qualitative Disclosures about Market Risk — Cash and Investments below.

Liquidity of Liberty Global and its unrestricted subsidiaries

The $0.5 million of cash held by Liberty Global and, subject to certain tax and legal considerations, the $849.3 million of aggregate cash and cash equivalents held by unrestricted subsidiaries, together with the $77.9 million of investments held under SMAs, represented available liquidity at the corporate level at March 31, 2025. Our remaining cash and cash equivalents of $1,132.8 million at March 31, 2025 were held by our borrowing groups, as set forth in the table above. As noted above, various factors may limit our ability to access the cash of our borrowing groups. For information regarding certain limitations imposed by our subsidiaries’ debt instruments at March 31, 2025, see note 9 to our condensed consolidated financial statements.

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Our short-term sources of corporate liquidity include (