Company: LBTYK
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001570585-25-000114
Chunk: 50

Company: Liberty Global Ltd.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 50
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 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 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 three months ended March 31, 2025, we recorded revenue of $49.6 million associated with the Sunrise Services, including $30.9 million related to fixed fees for the Sunrise Services and $18.7 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 months ended March 31, 2024. The operating results of the Sunrise Entities for the three months ended March 31, 2024 are summarized in the following table (in millions). These amounts exclude intercompany revenue and expenses that are eliminated within our condensed consolidated statement of operations. Revenue$853.8 Operating income$34.9 Loss before income taxes$(123.4)Income tax benefit15.9 Net loss attributable to Liberty Global shareholders$(107.5)

13

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

(5)    Investments

The details of our investments are set forth below:Accounting MethodMarch 31,2025December 31,2024Ownership (a) in millions%Equity (b):Long-term:VMO2 JV$6,608.8 $6,501.4 50.0VodafoneZiggo JV (c)1,780.3 1,738.4 50.0AE Group Sàrl (AtlasEdge JV) (d)369.1 339.5 48.7Nexfibre Networks Limited (nexfibre JV) (e)99.5 93.4 24.9Other87.8 107.6 Total — equity8,945.5 8,780.3 Fair value: Short-term:Separately-managed accounts (SMAs) (f)— 335.6 Long-term:Vodafone - subject to re-use rights