Company: LBTYK
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001570585-25-000223
Chunk: 63

Company: Liberty Global Ltd.
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 63
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,461.5)$(524.3)Basic and diluted loss from continuing operations attributable to Liberty Global shareholders per share$(4.02)$(1.41)

14

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

Spin-offOn November 8, 2024, we completed the Spin-off, following a series of transactions that resulted in the transfer of the Sunrise Entities to an independent, separate publicly-traded Swiss company, Sunrise Communications AG (the Spin-off). No gain or loss was recognized in connection with the Spin-off.The Spin-off was accomplished through the distribution of Sunrise common shares, in the form of Sunrise American depository shares (ADSs), to Liberty Global shareholders. Liberty Global shareholders received one Sunrise Class A ADS for every five Liberty Global Class A or Class C common shares and two Sunrise Class B ADSs for each Liberty Global Class B common share.In connection with the Spin-off, we agreed to provide certain services to Sunrise on a transitional or ongoing basis (collectively, the Sunrise Services). The agreements underlying the Sunrise Services expire between 2027 and 2029. During the nine months ended September 30, 2025, we recorded revenue of $154.1 million associated with the Sunrise Services, including $98.3 million related to fixed fees and $55.8 million related to the sale of customer premises equipment (CPE) and other variable charges.Presentation of Discontinued OperationsThe operations of the Sunrise Entities are presented as discontinued operations in our condensed consolidated financial statements for the three and nine months ended September 30, 2024. The operating results of the Sunrise Entities for these periods are summarized in the following table. These amounts exclude intercompany revenue and expenses that are eliminated within our condensed consolidated statement of operations. Three months ended September 30, 2024Nine months ended September 30, 2024in millionsRevenue$865.7 $2,535.3 Operating income$67.9 $154.9 Earnings (loss) before income taxes$24.9 $(114.9)Income tax expense(12.1)(28.7)Net earnings (loss) attributable to Liberty Global shareholders$12.8 $(143.6)

15

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

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