Company: LBTYK
Filing Date: 2025-03-25
Form Type: 10-K/A
Source: 0001570585-25-000097
Chunk: 91

Company: Liberty Global Ltd.
Filing Date: 2025-03-25
Form: 10-K/A
Chunk 91
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 expensed as incurred.

(4) Revenue Recognition and Related Costs

#### Contract Balances
If we transfer goods or services to a customer but do not have an unconditional right to payment, we record a contract asset. Contract assets typically arise from the delivery of a handset that is paid for over the duration of the contract period or the uniform recognition of introductory promotional discounts over the contract period. Our contract assets were €137.9 million and €234.1 million as of December 31, 2024 and 2023 , respectively, and are reported net of an allowance for doubtful accounts. Such allowance aggregat ed €3.3 million and €5.4 million at December 31, 2024 and 2023, respectively. The long-term portions of our contract asset balances are included within other assets, net, on our consolidated balance sheets.

We record deferred revenue when we receive payment prior to transferring goods or services to a customer. We primarily defer revenue for (i) services that are invoic ed prior to when services are provided and (ii) installation and other upfront services. Our deferred revenue balances were €217.0 million and €214.5 million as of December 31, 2024 and 2023, respectively. The long-term portions of our deferred revenue balances are included within other long-term liabilities on our consolidated balance sheets.

#### Contract Costs
Our aggregate assets associated with incremental costs to obtain and fulfill our contracts wer e €85.5 million and €76.3 million at December 31, 2024 and 2023, respectively. The current and long-term portions of our assets related to contract costs are included within other current assets, net and other assets, net, respectively, on our consolidated balance sheets. During 2024, 2023 and 2022, we amortized €96.1 million, € 84.6 million and € 80.8 million, respectively, to programming and other direct costs of services expenses and other operating expenses.

#### Sale of handset receivables
In December 2024, we entered into a securitization facility related to our mobile handset loan receivables. The securitization facility has a three-year term, during which we may sell and assign mobile handset loan receivables to VZ Financing Receivables B.V., an unconsolidated special purpose financing entity ( SPE ). In December 2024, we received proceeds of €147.8 million associated with the sale and assignment of mobile handset