Company: LBTYK
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001570585-25-000021
Chunk: 113

Company: Liberty Global Ltd.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 9C
Chunk 113
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II-77

LIBERTY GLOBAL LTD.Notes to Consolidated Financial Statements — (Continued)December 31, 2024, 2023 and 2022

December 31, 2023 Amortized cost basisAccumulated unrealized gainsFair value in millionsCommercial paper$1,066.5 $(0.1)$1,066.4 Government bonds504.7 0.3 505.0 Certificates of deposit373.1 0.1 373.2 Corporate debt securities226.6 (0.1)226.5 Structured note (a)(a)(a)95.8 Other debt securities9.2 — 9.2 Total debt securities$2,180.1 $0.2 $2,276.1 _______________(a)Amount represents an investment in a leveraged structured note issued by a third-party investment bank, which is accounted for at fair value. At December 31, 2023, the proportionate amount of debt issued by Liberty Global consolidated subsidiaries and affiliates associated with the return on the leveraged structured note is summarized in the following table: Proportion of debt associated with the return on the leveraged structured note Subsidiary:Sunrise (1)32.91 %Telenet28.23 %Affiliate:VMO2 JV31.49 %VodafoneZiggo JV7.37 %Total100.00 %________________(1)Following completion of the Spin-off, the Sunrise Entities are no longer considered subsidiaries or affiliates of Liberty Global. For additional information regarding the Spin-off, see note 6. During 2024, 2023 and 2022, we received proceeds from the sale of debt securities of $4.4 billion, $6.9 billion and $9.1 billion, respectively, a portion of which were reinvested in new debt securities held under SMAs. The sale of debt securities during 2024, 2023 and 2022 resulted in realized net losses of $7.5 million, $56.3 million and $6.9 million, respectively. The fair values of our debt securities as of December 31, 2024 by contractual maturity are shown below (in millions): Due in one year or less$335.6 Due in one to five years97.5 Total (