Company: LBTYK
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001570585-25-000223
Chunk: 31

Company: Liberty Global Ltd.
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 2
Chunk 31
---
 our investment in the VodafoneZiggo JV is impaired or management of the VodafoneZiggo JV could conclude that an impairment of the VodafoneZiggo JV goodwill and, to a lesser extent, long-lived assets, is required. Any such impairment of the VodafoneZiggo JV’s goodwill or our investment in the VodafoneZiggo JV would be reflected as a component of share of results of affiliates, net, in our condensed consolidated statement of operations. Our share of any such impairment charges could be significant.

(c)Includes our share of results of Formula E prior to the Formula E Acquisition Date.

(d)We completed the sale of our investment in All3Media during the second quarter of 2024. 

Gain on sale of All3Media

In connection with the sale of All3Media, we recognized a gain of $242.9 million during the nine months ended September 30, 2024.

Other income, net

We recognized other income, net, of $27.5 million and $53.1 million during the three months ended September 30, 2025 and 2024, respectively, and $80.0 million and $166.0 million during the nine months ended September 30, 2025 and 2024, respectively. These amounts include interest and dividend income of $20.5 million and $53.4 million during the three-month periods, respectively, and $78.1 million and $165.2 million during the nine-month periods, respectively. 

Income tax benefit (expense)

We recognized income tax benefit (expense) of $46.9 million and $116.0 million during the three and nine months ended September 30, 2025, respectively, and $11.2 million and ($59.8 million) during the three and nine months ended September 30, 2024.

74

The income tax benefit during the three months ended September 30, 2025 differs from the expected income tax benefit of $19.6 million (based on the Bermuda statutory income tax rate of 15.0%), primarily due to the net positive impact of (i) a net decrease in unrecognized tax benefits and (ii) statutory rates in certain jurisdictions in which we operate that are different than the Bermuda statutory income tax rate. The net positive impact of these items was partially offset by the net negative impact of (a) certain permanent differences between the financial and tax accounting treatment of items associated with investments in subsidiaries and affiliates and (b