Company: LBTYK
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001570585-25-000183
Chunk: 30

Company: Liberty Global Ltd.
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 2
Chunk 30
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, regulatory or other factors were to cause significant deterioration of the results of operations or cash flows of the VodafoneZiggo JV, we could conclude in future periods that our investment in the VodafoneZiggo JV is impaired or management of the VodafoneZiggo JV could conclude that an impairment of the VodafoneZiggo JV goodwill and, to a lesser extent, long-lived assets, is required. Any such impairment of the VodafoneZiggo JV’s goodwill or our investment in the VodafoneZiggo JV would be reflected as a component of share of results of affiliates, net, in our condensed consolidated statement of operations. Our share of any such impairment charges could be significant.

(c)Includes our share of results of Formula E prior to the Formula E Acquisition Date.

(d)We completed the sale of our investment in All3Media during the second quarter of 2024. 

Gain on sale of All3Media

In connection with the sale of All3Media, we recognized a gain of $242.9 million during the six months ended June 30, 2024. For additional information, see note 5 to our condensed consolidated financial statements.

Other income, net

We recognized other income, net, of $33.1 million and $76.5 million during the three months ended June 30, 2025 and 2024, respectively, and $52.5 million and $112.9 million during the six months ended June 30, 2025 and 2024, respectively. These amounts include interest and dividend income of $39.2 million and $75.5 million during the three month periods, respectively, and $57.6 million and $111.8 million during the six month periods, respectively. 

Income tax benefit (expense)

We recognized income tax benefit (expense) of ($0.9 million) and $69.1 million during the three and six months ended June 30, 2025, respectively, and ($28.2 million) and ($71.0 million) during the three and six months ended June 30, 2024.

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The income tax expense during the three months ended June 30, 2025 differs from the expected income tax benefit of $415.9 million (based on the Bermuda statutory income tax rate of 15.0%), primarily due to the net negative impact of (i) non-deductible or non-taxable foreign currency exchange results and (ii) certain permanent differences between the