Company: LBTYK
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001570585-25-000223
Chunk: 69

Company: Liberty Global Ltd.
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 69
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4in millionsFixed fee$57.9 $49.9 $168.7 $147.5 Variable charges (a)37.8 40.9 111.0 146.8 Total revenue$95.7 $90.8 $279.7 $294.3 _______________(a)Amounts primarily include the sale of CPE at a mark-up.The summarized results of operations of the VMO2 JV are set forth below:Three months endedSeptember 30,Nine months endedSeptember 30,2025202420252024in millionsRevenue$3,436.0 $3,512.7 $9,935.8 $10,170.9 Earnings (loss) before income taxes$(3.8)$(68.7)$(619.9)$1.4 Net loss$(20.0)$(55.3)$(494.7)$(20.0)VodafoneZiggo JVPursuant to an agreement (the NL JV Framework Agreement), Liberty Global provides certain services to the VodafoneZiggo JV (collectively, the NL JV Services). The NL JV Services provided by Liberty Global consist primarily of (i) technology and other services and (ii) capital-related expenditures for assets that will be used by, or will otherwise benefit, the VodafoneZiggo JV. Liberty Global charges both fixed and usage-based fees to the VodafoneZiggo JV for the NL JV Services provided pursuant to the NL JV Framework Agreement. We recorded revenue from the VodafoneZiggo JV of $56.1 million and $42.5 million during the three months ended September 30, 2025 and 2024, respectively, and $150.4 million and $164.2 million during the nine months ended September 30, 2025 and 2024, respectively, primarily related to (a) the NL JV Services and (b) the sale of CPE to the VodafoneZiggo JV at a mark-up. At September 30, 2025 and December 31, 2024, $49.8 million and $18.5 million, respectively, was due from the VodafoneZiggo JV related to the aforementioned transactions. The amounts due from the VodafoneZiggo JV, which are periodically cash settled, are included in other current assets on our condensed consolidated balance sheets.The VodafoneZiggo JV is experiencing significant competition