Company: LBTYK
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001570585-25-000021
Chunk: 295

Company: Liberty Global Ltd.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 7
Chunk 295
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Programming and other direct costs of services include programming and copyright costs, interconnect and access costs, costs of mobile handsets and other devices and other direct costs related to our operations, including costs associated with our transitional service agreements and certain costs related to the development of externally marketed software. Programming and copyright costs represent a significant portion of our operating costs and are subject to rise in future periods due to various factors, including (i) higher costs associated with the expansion of our digital video content, including rights associated with ancillary product offerings and rights that provide for the broadcast of live sporting events and (ii) rate increases.

II-12

The details of our programming and other direct costs of services are as follows:

 Year ended December 31,Increase (decrease)Organic increase (decrease) 20242023$%$%in millions, except percentagesTelenet$764.5 $789.1 $(24.6)(3.1)$(26.9)(3.4)VM Ireland127.7 139.0 (11.3)(8.1)(11.5)(8.3)Total consolidated reportable segments892.2 928.1 (35.9)(3.9)Plus: all other category644.4 446.5 197.9 44.3 Less: elimination of intercompany consolidated programming and other direct costs of services(85.9)(89.1)3.2 N.M.Total consolidated$1,450.7 $1,285.5 $165.2 12.9 $143.9 11.0 

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N.M. — Not Meaningful.

Our programming and other direct costs of services increased $165.2 million or 12.9% during 2024, as compared to 2023. This increase includes an increase of $20.1 million attributable to the impact of the Formula E Acquisition. On an organic basis, our programming and other direct costs of services increased $143.9 million or 11.0%. This increase includes the following factors:

•An increase in costs of $138.2 million related to the sale of CPE to the VMO2 JV beginning in 2024;

•An increase in costs of $50.5 million due to lower capitalization as a result of our decision in May 2023 to market and sell certain of our internally-developed software to third parties, as further described