Company: LBTYK
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001570585-25-000021
Chunk: 100

Company: Liberty Global Ltd.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 9C
Chunk 100
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.0 $69.3 Loss before income taxes$(200.1)$(278.2)Income tax benefit (expense)(23.1)63.5 Net loss attributable to Liberty Global shareholders$(223.2)$(214.7)_______________(a)Includes the operating results of the Sunrise Entities from January 1, 2024 to November 8, 2024, the date of the Spin-off.

II-68

LIBERTY GLOBAL LTD.Notes to Consolidated Financial Statements — (Continued)December 31, 2024, 2023 and 2022

The operating results of the Sunrise Entities and UPC Poland for 2022 are summarized in the following table. These amounts exclude intercompany revenue and expenses that are eliminated within our consolidated statement of operations. Sunrise EntitiesUPC Poland (a)Totalin millionsRevenue$3,178.2 $109.5 $3,287.7 Operating income$36.9 $45.0 $81.9 Earnings before income taxes$245.8 $43.9 $289.7 Income tax benefit (expense)87.8 (9.3)78.5 Net earnings attributable to Liberty Global shareholders$333.6 $34.6 $368.2 _______________(a)Includes the operating results of UPC Poland from January 1, 2022 to April 1, 2022, the date UPC Poland was sold.Telenet Tower SaleOn June 1, 2022, Telenet completed the sale of substantially all of their passive infrastructure and tower assets to DigitalBridge Investments LLC (DigitalBridge) (the Telenet Tower Sale). After considering working capital adjustments, we received net cash proceeds of €733.0 million ($779.9 million at the transaction date). Effective with the signing of the sale and purchase agreement on March 25, 2022, we began accounting for the associated assets and liabilities as held for sale and, accordingly, we ceased to depreciate or amortize these long-lived assets. In connection with the completion of the Telenet Tower Sale, we recognized a gain of $700.5 million. No income taxes were required to be provided on this gain.As part of the Telenet Tower Sale, Telenet entered into a master lease agreement to lease back the passive infrastructure and tower assets from DigitalBridge for an initial period of 15 years (the Telenet