Company: LBTYK
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001570585-25-000223
Chunk: 74

Company: Liberty Global Ltd.
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 74
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-term liabilities, respectively, on our condensed consolidated balance sheets.(b)We consider credit risk relating to our and our counterparties’ nonperformance in the fair value assessment of our derivative instruments. In all cases, the adjustments take into account offsetting liability or asset positions within each of our subsidiary borrowing groups (as defined and described in note 9). The changes in the credit risk valuation adjustments associated with our cross-currency and interest rate derivative contracts resulted in net gains (losses) of ($6.1 million) and $3.5 million during the three months ended September 30, 2025 and 2024, respectively, and $3.3 million and ($2.0 million) during the nine months ended September 30, 2025 and 2024, respectively. These amounts are included 

22

LIBERTY GLOBAL LTD.Notes to Condensed Consolidated Financial Statements — (Continued)September 30, 2025(unaudited)

in realized and unrealized losses on derivative instruments, net, in our condensed consolidated statements of operations. For further information regarding our fair value measurements, see note 7.(c)Our equity-related derivative instruments at December 31, 2024 include the Vodafone Collar. As further described in note 5, the Vodafone Collar was fully settled in 2025.The details of our realized and unrealized losses on derivative instruments, net, are as follows:Three months endedSeptember 30,Nine months endedSeptember 30, 2025202420252024 in millionsCross-currency and interest rate derivative contracts$36.6 $(239.7)$(397.3)$40.6 Equity-related derivative instruments(84.5)(62.6)(207.6)(110.7)Foreign currency forward and option contracts1.5 40.6 (12.2)32.9 Other— (2.1)— (2.1)Total$(46.4)$(263.8)$(617.1)$(39.3) The net cash received or paid related to our derivative instruments is classified as an operating, investing or financing activity in our condensed consolidated statements of cash flows based on the objective of the derivative instrument and the classification of the applicable underlying cash flows. The following table sets forth the classification of the net cash inflows of our derivative instruments:Nine months endedSeptember 30, 20252024 in millionsOperating activities$69.4 $137