Company: LBTYK
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001570585-25-000183
Chunk: 132

Company: Liberty Global Ltd.
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 8
Chunk 132
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 2.2%, respectively. These decreases include the following factors:

•Decreases in external sales and marketing costs of $4.6 million or 5.4% and $5.1 million or 2.9%, respectively, primarily due to the net effect of (i) lower costs associated with advertising campaigns, including decreases at Telenet and VM Ireland, and (ii) higher third-party sales commissions, as increases at Telenet were only partially offset by decreases at VM Ireland;

•Decreases in personnel costs of $5.4 million or 4.0% and $3.0 million or 1.2%, respectively, primarily due to the net effect of (i) lower incentive compensation costs and (ii) higher average costs per employee, primarily due to an increase at Telenet for the six-month comparison; and

•Decreases in business service costs of $5.1 million or 12.9% and $2.8 million or 4.1%, respectively, primarily due to (i) lower travel and entertainment expenses and (ii) lower consulting costs. 

66

Share-based compensation expense

Our share-based compensation expense primarily relates to the share-based incentive awards issued by Liberty Global to its employees and employees of its subsidiaries. A summary of our aggregate share-based compensation expense is set forth below: 

 Three months endedJune 30,Six months endedJune 30, 2025202420252024 in millionsLiberty Global (a):Non-performance based incentive awards$21.3 $27.8 $43.1 $56.1 Performance based incentive awards15.4 4.9 20.9 7.0 Other (b)8.8 7.4 14.9 14.8 Total Liberty Global45.5 40.1 78.9 77.9 Other3.9 3.3 3.9 4.5 Total$49.4 $43.4 $82.8 $82.4 Included in:Other operating expense$3.5 $4.8 $6.4 $9.4 SG&A expense45.9 38.6 76.4 73.0 Total$49.4 $43.4 $82.8 $82.4 

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(a)Amounts include share-based compensation expense