Company: LBTYK
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001570585-25-000021
Chunk: 142

Company: Liberty Global Ltd.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 9C
Chunk 142
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2.4 Total income tax benefit (expense)$30.8 $(213.1)$(406.7)_______________(a)The statutory or “expected” tax rates are the U.K. rates of 25.0% for 2024, 23.5% for 2023 and 19.0% for 2022. The statutory rate for 2023 represents the blended rate in effect for the year ended December 31, 2023 based on the 19.0% statutory rate that was in effect for the first quarter of 2023 and the 25.0% statutory rate in effect from April 1, 2023. Although we are domiciled in Bermuda, we use the U.K. statutory rate to compute our “expected” tax benefit (expense) as management believes it is more meaningful given that Bermuda did not impose an income tax in the periods presented.(b)Amounts reflect adjustments (either a benefit or expense) to the “expected” tax benefit (expense) for statutory rates in jurisdictions in which we operate outside of the U.K. (c)Amounts reflect the recognition of the innovation income tax deduction in Belgium.(d)Amounts reflect the net impact of differences in the treatment of income and loss items between financial and tax accounting related to investments in subsidiaries and affiliates, including the effects of foreign earnings. In addition, the 2024 amount includes the non-taxable gains associated with (i) the sale of All3Media and (ii) the Formula E Acquisition and the 2023 amount includes the non-taxable gain associated with the Telenet Wyre Transaction.The components of our net deferred tax liabilities are as follows:  December 31, 20242023 in millionsDeferred tax assets (a)$93.1 $83.6 Deferred tax liabilities (a)(405.0)(299.4)Net deferred tax liabilities$(311.9)$(215.8)_______________  (a)Our deferred tax assets and deferred tax liabilities are included within other assets, net, and other long-term liabilities, respectively, on our consolidated balance sheets. 

II-99

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

The tax effects of temporary differences that give rise to significant portions of our deferred tax assets and liabilities are presented below:  December 31, 20242023