Company: LBTYK
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001570585-25-000114
Chunk: 59

Company: Liberty Global Ltd.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 59
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 endedMarch 31, 20252024 in millionsCross-currency and interest rate derivative contracts$(110.7)$177.1 Equity-related derivative instruments(49.2)(43.5)Foreign currency forward and option contracts(4.7)(0.3)Other(0.1)— Total$(164.7)$133.3  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:Three months endedMarch 31, 20252024 in millionsOperating activities$13.7 $27.5 Investing activities(0.1)— Financing activities— (1.5)Total$13.6 $26.0 Counterparty Credit RiskWe are exposed to the risk that the counterparties to the derivative instruments of our subsidiary borrowing groups will default on their obligations to us. We manage these credit risks through the evaluation and monitoring of the creditworthiness of, and concentration of risk with, the respective counterparties. In this regard, credit risk associated with our derivative instruments is spread across a relatively broad counterparty base of banks and financial institutions, however notwithstanding, given the size of our derivative portfolio, the default of certain counterparties could have a significant impact on our consolidated statements of operations. Collateral is generally not posted by either party under our derivative instruments. At March 31, 2025, our exposure to counterparty credit risk included derivative assets with an aggregate fair value of $334.5 million. 

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LIBERTY GLOBAL LTD.Notes to Condensed Consolidated Financial Statements — (Continued)March 31, 2025(unaudited)

Details of our Derivative Instruments Cross-currency Swap ContractsWe generally match the denomination of our subsidiaries’ borrowings with the functional currency of the supporting operations or, when it is more cost effective, we provide for an economic hedge against foreign currency exchange rate movements by using derivative instruments to synthetically convert unmatched debt into the applicable underlying currency. At March 31, 2025, substantially all of our debt was either directly or synthetically matched to the applicable functional currencies of the underlying operations. The following table sets forth the total notional amounts and the related weighted average remaining contractual lives of our cross-currency swap contracts at