Company: LBTYK
Filing Date: 2025-03-25
Form Type: 10-K/A
Source: 0001570585-25-000097
Chunk: 10

Company: Liberty Global Ltd.
Filing Date: 2025-03-25
Form: 10-K/A
Chunk 10
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 in the U.K.

These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ( GAAP ). Unless otherwise indicated, convenience translations into pound sterling are calculated as of 31 December 2024.

These consolidated financial statements reflect our consideration of the accounting and disclosure implications of subsequent events through 25 March 2025, the date of issuance.

(2) Accounting Changes and Recent Accounting Pronouncements

#### Accounting Changes
ASU 2022-04

In September 2022, the Financial Accounting Standards Board (the FASB) issued Accounting Standards Update ( ASU ) ASU No. 2022-04, Liabilities—Supplier Finance Programs ( ASU 2022-04 ), which requires additional disclosures for buyers participating in supplier financing programs, which we refer to as vendor financing, including (i) the key terms of the arrangement, (ii) the confirmed amount outstanding at the end of the period, (iii) the balance sheet presentation of related amounts and (iv) a reconciliation of the balances from period to period. We adopted ASU 2022-04 on 1 January 2023, and such adoption did not have a significant impact on our consolidated financial statements. For additional information regarding our vendor financing obligations, see note 9.

ASU 2021-08

In October 2021, the FASB issued ASU No. 2021-08, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers ( ASU 2021-08 ), which requires contract assets and contract liabilities acquired in a business combination to be recognised and measured in accordance with Topic 606, Revenue from Contracts with Customers, as if the acquirer had originated the contracts. We adopted ASU 2021-08 on 1 January 2023. The main impact of the adoption of ASU 2021-08 is the recognition of contract assets and contract liabilities in future business combinations at amounts generally consistent with the carrying value of such assets and liabilities of the acquiree immediately before the acquisition date.

ASU 2020-04

In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting ( ASU 2020-04 ), which provides, for a limited time, optional expedients and exceptions for certain contract modifications that reference the London Interbank Offered Rate ( LIBOR ) or another reference rate expected to be