Company: LBTYK
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001570585-25-000223
Chunk: 94

Company: Liberty Global Ltd.
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 94
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 an unrecognized tax benefit. In November 2023, the U.S. Tax Court issued an unfavorable decision, which we subsequently appealed to the Court of Appeals. In December 2023, we made a $315 million payment for the disputed tax and estimated associated interest. While this payment reduced the liability for unrecognized tax benefits on our consolidated balance sheet, the position remained in our inventory of unrecognized tax benefits as the matter was not yet settled. In August 2025, the Court of Appeals upheld the U.S. Tax Court’s decision and we will not appeal further. As a result, we have now removed the position from our inventory of unrecognized tax benefits.

38

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

(12)    Equity

Share Repurchases During the nine months ended September 30, 2025, we repurchased 14,458,853 of our Class C common shares at an average price per share of $10.98, for an aggregate purchase price of $158.8 million, including direct acquisition costs.

Under our current share repurchase program, we are authorized during 2025 to repurchase up to 10% of our total outstanding shares as of December 31, 2024. As of September 30, 2025, the remaining number of our Class A and/or Class C common shares that we are authorized to repurchase during 2025 was 20.4 million. Based on the average of the respective closing share prices as of September 30, 2025, this would equate to additional share repurchases during the remainder of 2025 of approximately $236.7 million. However, the actual U.S. dollar amount of our share repurchases during the remainder of 2025 will be determined by the actual transaction date share prices during the year and could differ significantly from this amount. 

(13)    Share-based Compensation

Our share-based compensation expense primarily relates to the share-based incentive awards issued by Liberty Global to its employees and employees of its subsidiaries. A summary of our aggregate share-based compensation expense is set forth below:  Three months endedSeptember 30,Nine months endedSeptember 30, 2025202420252024 in millionsLiberty Global (a):Non-performance based incentive awards$25.0 $37.0 $68.1 $93.1 Performance-based incentive awards13.9