UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 11-K
| þ | ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the fiscal year ended December 31, 2007
OR
| ¨ | TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from to
Commission file number 000-51360
LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
(Full title of the Plan)
LIBERTY GLOBAL, INC.
(Issuer of the securities held pursuant to the Plan)
12300 Liberty Boulevard
Englewood, Colorado 80112
(Address of its principal executive office)
LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
Table of Contents
| | |
| | | Page No. |
Report of Independent Registered Public Accounting Firm | | 1 |
| |
Financial Statements: | | |
Statements of Net Assets Available for Plan Benefits as of December 31, 2007 and 2006 | | 2 |
Statement of Changes in Net Assets Available for Plan Benefits for the year ended December 31, 2007 | | 3 |
Notes to Financial Statements | | 4 |
| |
Supplemental Schedules: | | |
Schedule 1 - Schedule of Assets (Held at End of Year) – Form 5500 Schedule H, Part IV, Line 4i, as of December 31, 2007 | | 10 |
Schedule 2 - Schedule of Reportable Transactions – Form 5500 Schedule H, Part IV, Line 4j, for the year ended December 31, 2007 | | 11 |
Report of Independent Registered Public Accounting Firm
To Plan Participants and the Administrative Committee
Liberty Global 401(k) Savings and Stock Ownership Plan:
We have audited the accompanying statements of net assets available for Plan benefits of the Liberty Global 401(k) Savings and Stock Ownership Plan (the Plan) as of December 31, 2007 and 2006, and the related statement of changes in net assets available for Plan benefits for the year ended December 31, 2007. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for plan benefits of the Plan as of December 31, 2007 and 2006, and the changes in net assets available for plan benefits for the year ended December 31, 2007, in conformity with U.S. generally accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of assets (held at end of year) as of December 31, 2007 and reportable transactions for the year ended December 31, 2007 are presented for the purpose of additional analysis and are not a required part of the basic financial statements but are supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. These supplemental schedules are the responsibility of the Plan’s management. These supplemental schedules have been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole.
/s/ Anton Collins Mitchell LLP
Denver, Colorado
June 26, 2008
1
LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
Statements of Net Assets Available for Plan Benefits
| | | | | | |
| | | December 31, |
| | | 2007 | | 2006 |
Cash and cash equivalents | | $ | 1,004 | | $ | 546 |
| | | | | | |
Investments, at fair value: | | | | | | |
Money market funds | | | 1,095,791 | | | 793,888 |
Mutual funds | | | 12,144,745 | | | 9,275,065 |
Employer stock | | | 6,092,035 | | | 4,377,537 |
Common collective trust | | | 130,572 | | | 60,234 |
Participant loans | | | 149,910 | | | 144,062 |
| | | | | | |
Total investments | | | 19,613,053 | | | 14,650,786 |
| | | | | | |
Employer contributions receivable, net of forfeitures | | | 172,815 | | | 189,237 |
| | | | | | |
Net assets available for Plan benefits at fair value | | | 19,786,872 | | | 14,840,569 |
| | | | | | |
Adjustment from fair value to contract value for interest in collective trust relating to fully benefit-responsive investment contracts | | | 1,419 | | | 605 |
| | | | | | |
Net assets available for Plan benefits | | $ | 19,788,291 | | $ | 14,841,174 |
| | | | | | |
See accompanying notes to financial statements.
2
LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
Statement of Changes in Net Assets Available for Plan Benefits
Year ended December 31, 2007
| | | | |
Additions to net assets attributed to: | | | | |
Contributions: | | | | |
Participant | | $ | 1,411,083 | |
Employer, net of forfeitures applied | | | 1,237,642 | |
Rollovers | | | 800,756 | |
| | | | |
Total contributions | | | 3,449,481 | |
| | | | |
Investment income: | | | | |
Interest and dividends | | | 936,806 | |
Net appreciation in fair value of investments | | | 1,518,690 | |
| | | | |
Total investment income | | | 2,455,496 | |
| | | | |
Total additions | | | 5,904,977 | |
| | | | |
Deductions from net assets attributed to: | | | | |
Distributions to participants | | | (933,987 | ) |
Administrative expenses | | | (23,873 | ) |
| | | | |
Total deductions | | | (957,860 | ) |
| | | | |
Net increase in net assets available for Plan benefits | | | 4,947,117 | |
Net assets available for Plan benefits, beginning of year | | | 14,841,174 | |
| | | | |
Net assets available for Plan benefits, end of year | | $ | 19,788,291 | |
| | | | |
See accompanying notes to financial statements.
3
LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
Notes to Financial Statements
| (1) | Description of the Plan |
The following description of the Liberty Global 401(k) Savings and Stock Ownership Plan (the Plan) provides only general information. Participants and all others should refer to the Plan agreement for a more complete description of the Plan’s provisions.
General
On June 15, 2005, Liberty Global, Inc. (LGI) completed certain mergers whereby LGI acquired all of the capital stock of UnitedGlobalCom, Inc. (UGC) that LGI International, Inc. (LGI International) (formally Liberty Media International, Inc.) did not already own, and LGI International and UGC each became wholly owned subsidiaries of LGI.
The Plan was established January 1, 1994 and is a defined contribution plan sponsored by LGI. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA). The Plan has been amended and restated at various dates, most recently as of January 1, 2006, at which time the name of the Plan was changed to the Liberty Global 401(k) Savings and Stock Ownership Plan. Employees of LGI and designated 80% or more owned subsidiaries of LGI are eligible to participate. Collectively bargained employees, leased employees and Puerto Rico employees are not eligible for the Plan. LGI reserves the right to change the terms of the Plan at any time.
Trustee and Recordkeeper
The trustee and recordkeeper of the Plan is Fidelity Management Trust Company (Fidelity or Trustee).
Contributions
Participants who are residents or citizens of the United States may make pre-tax contributions to the Plan of up to 60% of their eligible compensation, as defined in the Plan. Participants who are not residents or citizens of the United States may make after-tax contributions to the Plan. Catch-up contributions, as defined in the Economic Growth and Tax Relief Reconciliation Act of 2001, are permitted for those eligible employees and are not matched by the employer. Participants may change their contribution percentages on each January 1, April 1, July 1 or October 1. LGI may make matching contributions equal to 100% of participant contributions, up to a maximum match of 10% of eligible compensation. LGI reserves the right to change the matching contribution at any time. All participant contributions and employer matching contributions are subject to limitations as determined annually by the Internal Revenue Service (IRS). Employee pre-tax contributions and combined employee/employer contributions per participant were limited to $15,500 and $45,000, respectively, in 2007.
Employee contributions may be invested in any investment in the Plan at the employee’s election. All employer matching contributions are made in LGI Series C common stock. Participants who are fully vested in their employer contributions can transfer the investment in LGI Series A and LGI Series C common stock contributed by the employer to any investment in the Plan. Employer contributions for participants who are not fully vested remain in LGI Series C common stock.
Rollovers
Participants may elect to rollover amounts from other qualified plans or individual retirement accounts into the Plan provided that certain conditions are met.
Participant Loans
Participants may borrow from their fund accounts a minimum of $1,000 up to the lesser of $50,000 or 50% of their vested account balance. Unless the loan is for the purchase of a participant’s primary residence, loans must be repaid within five years and bear interest at a rate equal to the prime rate in effect on the first day of the calendar quarter in which the loan is originated plus 1%. Loans transferred from other plans retain the repayment terms and interest rates in effect at the time of transfer. Loans are secured by the vested balance in the participant’s account, and bear interest at rates ranging from 5.00% to 9.25% at December 31, 2007. Principal and interest are paid ratably through monthly payroll deductions.
4
LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
Notes to Financial Statements - continued
Forfeitures
Forfeitures of employer contributions (due to participants’ termination prior to full vesting) are used to offset future matching contributions and pay Plan expenses. Forfeitures of $11,680 and $20,582 were used to offset employer contributions and pay Plan expenses, respectively, during the year ended December 31, 2007. Unallocated forfeitures available as of December 31, 2007 and 2006 were $45,694 and $43,475, respectively. As of December 31, 2007 and 2006, forfeitures of $13,516 and $5,298, respectively were used to offset the employer contributions receivable.
Investment Options
For the year ended December 31, 2007, the Plan has various investment options including a money market fund, a common collective trust, 23 mutual funds and two employer stock funds. Plan participants may change investment options on any day the New York Stock Exchange is open for trading.
Benefit Payments
Distributions from the Plan may be made to a participant upon attaining normal retirement age of 65, death, total disability or termination of employment. A participant may also be eligible for withdrawal in the case of financial hardship as defined in the Plan. Distributions and other withdrawals are processed on a daily basis. Benefits may be paid in a lump-sum, or in installments, and employer stock may be received in-kind. In-kind distributions are priced at fair value and are accounted for when shares are transferred by the Trustee to participants.
Vesting
Participant contributions are always fully vested. Participants acquire a vested right in employer matching contributions as follows:
| | | | |
| | | Vesting Percentages |
Years of service | | Employer contributions
on or after January 1, 2004 | | Employer contributions
prior to January 1, 2004 |
Less than 1 | | 0% | | 0% |
1 | | 33% | | 25% |
2 | | 66% | | 50% |
3 | | 100% | | 75% |
4 or more | | 100% | | 100% |
100% vesting of employer contributions occurs when a participant (i) attains the normal retirement age of 65, (ii) terminates employment due to disability or (iii) dies.
Plan Termination
Although LGI has not expressed any intent to terminate the Plan, it may do so at any time, subject to the provisions of ERISA. The Plan provides for full and immediate vesting of all participant rights upon termination of the Plan.
Participant Accounts
Participant accounts are credited with the participant’s contributions, employer contributions, earnings and losses on investments and charged with participant withdrawals and distributions on a daily basis. The investment earnings or losses of each investment fund are allocated to each participant’s account in accordance with the Plan document.
5
LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
Notes to Financial Statements - continued
| (2) | Summary of Significant Accounting Policies |
Basis of Presentation
The accompanying financial statements of the Plan have been prepared on the accrual basis and present the net assets available for Plan benefits and the changes in those net assets.
Investments
Investments are reflected in the accompanying financial statements at fair value. Fair value represents the closing prices for those securities having readily available market quotations, and fair value as determined by the Trustee with respect to other securities. The Plan’s interest in the common collective trust is valued at fair value based on information reported by the Trustee.
As described in Financial Accounting Standards Board Staff Position (FSP) AAG INV-1 and SOP 94-4-1, Reporting of Fully Benefit-Responsive Investment Contracts Held by Certain Investment Companies Subject to the AICPA Investment Company Guide and Defined-Contribution Health and Welfare and Pension Plans (the FSP), only assets that are attributable to fully benefit-responsive investment contracts are eligible for contract value accounting treatment. The Plan invests in a common collective trust, the Fidelity Managed Income Portfolio, which meets the definition of the fully benefit-responsive investment contract. As required by the FSP, the Statements of Net Assets Available for Plan Benefits presents the fair value of the investment in the common collective trust as well as the adjustment of the investment in the common collective trust from fair value to contract value basis relating to the fully benefit-responsive investment contracts. The Statement of Changes in Net Assets Available for Plan Benefits is prepared on a contract value basis.
Net appreciation (depreciation) in fair value of investments as reflected in the accompanying statement of changes in net assets available for Plan benefits is determined as the difference between fair value at the beginning of the period (or date purchased during the year) and selling price or year-end fair value.
Securities and investment transactions are accounted for on the trade date. The cost basis of shares distributed is determined using the moving average method. Dividend income is recorded on the ex-dividend date. Income from other investments is recorded as earned on an accrual basis.
Income Taxes
The IRS has determined and informed LGI by a letter dated November 3, 2005 that the Plan and related trust are designed in accordance with applicable sections of the Internal Revenue Code (IRC). Although the Plan has been amended and restated since receiving the determination letter, the Plan Administrator believes that the Plan is designed and is currently being operated in compliance with the applicable requirements of the IRC and therefore, that the Plan is qualified and the related trust is tax-exempt as of the financial statement date.
Voting Rights of LGI Stock
Fidelity holds shares of LGI common stock on behalf of the Plan. Each participant or beneficiary of a deceased participant shall have the right to direct the Trustee as to the manner of voting and exercise of all other rights which a shareholder of record has with respect to shares of LGI common stock which have been allocated to the participant’s account.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of additions and deductions during the reporting period. Actual results could differ from those estimates.
Plan Expenses
Any employer contribution amounts forfeited may be used to offset employer match contributions or to pay Plan expenses, except for any fees related to participant loans, which are paid by the respective participants. Any additional administrative expenses of the Plan are paid by LGI.
6
LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
Notes to Financial Statements - continued
Payment of Benefits
Benefits are recorded when paid.
Contributions
Participant contributions and related employer contributions are recognized in the period during which the respective payroll deductions are made.
Related Party/Party-in-Interest Transactions
Under the terms of a trust agreement between LGI and the Trustee, the Trustee manages certain funds on behalf of the Plan and has been granted authority concerning purchases and sales of investments for the trust funds. Certain of the Plan’s investments are mutual funds, a money market fund and a common collective trust fund managed by Fidelity. There are also two funds which are comprised of LGI common stock. Transactions in such investments qualify as party-in-interest transactions, which are exempt from the prohibited transaction rules.
| (3) | Recent Accounting Pronouncements |
In September 2006, the FASB issued Statement of Financial Accounting Standards (SFAS) No. 157, Fair Value Measurements (SFAS 157). SFAS 157 defines fair value, establishes a framework for measuring fair value under GAAP, and expands disclosures about fair value measurements. SFAS 157 is effective for financial statements issued for fiscal years and interim periods beginning after November 15, 2007. SFAS 157 will be adopted for the Plan’s financial statements as of and for the year ended December 31, 2008. The adoption of SFAS 157 is not expected to have a material impact on the Plan’s financial statements.
The fair value of individual investments that represent 5% or more of the Plan’s net assets at December 31, 2007 and 2006 are as follows:
| | | | | | |
| | | December 31, |
| | | 2007 | | 2006 |
LGI Series A common stock * | | $ | 1,895,834 | | $ | 1,581,193 |
LGI Series C common stock * | | $ | 4,196,201 | | $ | 2,796,344 |
Fidelity Diversified International Fund | | $ | 2,563,898 | | $ | 1,834,915 |
The Oakmark Equity and Income Fund | | $ | 1,730,492 | | $ | 1,296,091 |
Fidelity Blue Chip Growth Fund | | $ | 1,617,280 | | $ | 1,466,232 |
Fidelity Equity Income Fund | | $ | 1,466,079 | | $ | 1,328,023 |
Fidelity Retirement Money Market Portfolio | | $ | 1,095,791 | | $ | 793,888 |
Allianz NFJ Small Cap Value Fund - Administrative Class | | $ | 989,776 | | $ | 760,351 |
| * | Participant and non-participant directed investments |
7
LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
Notes to Financial Statements - continued
| (5) | Changes in Net Assets Available for Plan Benefits by Investment Alternative |
| | | | | | | | | | | | |
| | | Year ended December 31, 2007 | |
| | | LGI
common stock* | | | Other
investments** | | | Total | |
Additions to net assets attributed to: | | | | | | | | | | | | |
Contributions: | | | | | | | | | | | | |
Participant | | $ | 56,987 | | | $ | 1,354,096 | | | $ | 1,411,083 | |
Employer, net of forfeitures applied | | | 1,237,642 | | | | — | | | | 1,237,642 | |
Rollovers | | | — | | | | 800,756 | | | | 800,756 | |
| | | | | | | | | | | | |
Total contributions | | | 1,294,629 | | | | 2,154,852 | | | | 3,449,481 | |
| | | | | | | | | | | | |
Investment income: | | | | | | | | | | | | |
Interest and dividends | | | — | | | | 936,806 | | | | 936,806 | |
Net appreciation (depreciation) in fair value of investments | | | 1,520,335 | | | | (1,645 | ) | | | 1,518,690 | |
| | | | | | | | | | | | |
Total investment income | | | 1,520,335 | | | | 935,161 | | | | 2,455,496 | |
| | | | | | | | | | | | |
Total additions | | | 2,814,964 | | | | 3,090,013 | | | | 5,904,977 | |
| | | | | | | | | | | | |
| | | |
Deductions from net assets attributed to: | | | | | | | | | | | | |
Distributions to participants | | | (257,571 | ) | | | (676,416 | ) | | | (933,987 | ) |
Administrative expenses | | | (9,212 | ) | | | (14,661 | ) | | | (23,873 | ) |
| | | | | | | | | | | | |
Total deductions | | | (266,783 | ) | | | (691,077 | ) | | | (957,860 | ) |
| | | | | | | | | | | | |
Exchanges, participant loan withdrawals and repayments, net | | | (833,683 | ) | | | 833,683 | | | | — | |
| | | | | | | | | | | | |
Net increase in net assets available for Plan benefits | | | 1,714,498 | | | | 3,232,619 | | | | 4,947,117 | |
Net assets available for Plan benefits, beginning of year | | | 4,377,537 | | | | 10,463,637 | | | | 14,841,174 | |
| | | | | | | | | | | | |
Net assets available for Plan benefits, end of year | | $ | 6,092,035 | | | $ | 13,696,256 | | | $ | 19,788,291 | |
| | | | | | | | | | | | |
| * | Participant and non-participant directed investments |
| ** | Participant directed investments |
| (6) | Concentrations, Risks and Uncertainties |
The Plan invests in (i) various money market and mutual funds, (ii) a common collective trust and (iii) common stock of LGI. Investment securities are exposed to various risks such as interest rate, credit and overall market volatility risks. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term, and that such changes could materially affect participants’ account balances and the amounts reported in the statement of net assets available for Plan benefits. Investment in the common stock of LGI represents approximately 31% and 29% of the net assets available for Plan benefits as of December 31, 2007 and 2006, respectively. Changes in the LGI common stock price can have a significant impact on the Plan’s net assets available for Plan benefits.
8
LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
Notes to Financial Statements - continued
| (7) | Reconciliations of Financial Statements to Form 5500 |
The following are reconciliations of (i) net assets available for Plan benefits and (ii) net investment income per the accompanying financial statements to Form 5500:
| | | | | | | | |
| | | December 31,
2007 | | | December 31,
2006 | |
Net assets available for Plan benefits per the accompanying financial statements | | $ | 19,788,291 | | | $ | 14,841,174 | |
Adjustment from fair value to contract value for interest in collective trust relating to fully benefit-responsive investment contracts | | | (1,419 | ) | | | (605 | ) |
| | | | | | | | |
Net assets available for Plan benefits per the Form 5500 | | $ | 19,786,872 | | | $ | 14,840,569 | |
| | | | | | | | |
| | |
| | | Year ended
December 31,
2007 | | | | |
Net investment income per the accompanying financial statements | | $ | 2,455,496 | | | | | |
Net adjustment from fair value to contract value for interest in collective trust relating to fully benefit-responsive investment contracts | | | (814 | ) | | | | |
| | | | | | | | |
Total investment income per the Form 5500 | | $ | 2,454,682 | | | | | |
| | | | | | | | |
9
LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
FORM 5500 SCHEDULE H, Part IV, Line 4i
December 31, 2007
Supplemental Schedule 1
| | | | | | | | |
Identity of Issuer, Borrower, Lessor or Similar Party | | Description of Investment | | Shares | | Fair Value | |
* Cash (held in stock purchase account) | | Cash | | — | | $ | 1,004 | |
* Fidelity Retirement Money Market Portfolio | | Money market fund | | 1,095,791 | | | 1,095,791 | |
* Liberty Global, Inc. Series A common stock | | Common stock | | 48,375 | | | 1,895,834 | (a) |
* Liberty Global, Inc. Series C common stock | | Common stock | | 114,682 | | | 4,196,201 | (b) |
* Fidelity Managed Income Portfolio | | Common collective trust | | 131,991 | | | 130,572 | |
* Spartan U.S. Equity Index Fund | | Mutual fund | | 8,866 | | | 460,157 | |
PIMCO High Yield Fund - Administrative Class | | Mutual fund | | 26,812 | | | 255,788 | |
Allianz NFJ Small Cap Value Fund - Administrative Class | | Mutual fund | | 33,438 | | | 989,776 | |
Baron Growth Fund | | Mutual fund | | 12,918 | | | 654,557 | |
The Oakmark Equity and Income Fund | | Mutual fund | | 64,378 | | | 1,730,492 | |
* Fidelity Equity Income Fund | | Mutual fund | | 26,579 | | | 1,466,079 | |
* Fidelity Inflation Protected Bond Fund | | Mutual fund | | 11,161 | | | 123,439 | |
* Fidelity Investment Grade Bond Fund | | Mutual fund | | 95,519 | | | 686,781 | |
* Spartan Extended Market Index Fund | | Mutual fund | | 17,290 | | | 662,545 | |
* Fidelity Blue Chip Growth Fund | | Mutual fund | | 36,706 | | | 1,617,280 | |
* Fidelity Diversified International Fund | | Mutual fund | | 64,258 | | | 2,563,898 | |
* Fidelity Freedom Income Fund | | Mutual fund | | 785 | | | 8,989 | |
* Fidelity Freedom 2000 Fund | | Mutual fund | | 7,381 | | | 91,303 | |
* Fidelity Freedom 2005 Fund | | Mutual fund | | 3,987 | | | 47,007 | |
* Fidelity Freedom 2010 Fund | | Mutual fund | | 9,153 | | | 135,645 | |
* Fidelity Freedom 2015 Fund | | Mutual fund | | 462 | | | 5,765 | |
* Fidelity Freedom 2020 Fund | | Mutual fund | | 12,369 | | | 195,548 | |
* Fidelity Freedom 2025 Fund | | Mutual fund | | 7,658 | | | 100,938 | |
* Fidelity Freedom 2030 Fund | | Mutual fund | | 6,956 | | | 114,910 | |
* Fidelity Freedom 2035 Fund | | Mutual fund | | 8,078 | | | 110,501 | |
* Fidelity Freedom 2040 Fund | | Mutual fund | | 10,055 | | | 97,840 | |
* Fidelity Freedom 2045 Fund | | Mutual fund | | 404 | | | 4,587 | |
* Fidelity Freedom 2050 Fund | | Mutual fund | | 1,830 | | | 20,920 | |
* Participant loans | | Interest rates ranging from 5.00% to 9.25%, with various
maturity dates | | — | | | 149,910 | |
| | | | | | | | |
Total | | | | | | $ | 19,614,057 | |
| | | | | | | | |
| * | Party-in-interest as defined by ERISA. |
| (a) | Historical aggregate cost of Liberty Global, Inc. Series A common stock is $941,238. |
| (b) | Historical aggregate cost of Liberty Global, Inc. Series C common stock is $2,707,750. |
See accompanying report of independent registered public accounting firm.
10
LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
SCHEDULE OF REPORTABLE TRANSACTIONS
FORM 5500 SCHEDULE H, Part IV, Line 4j
For the Year ended December 31, 2007
Supplemental Schedule 2
| | | | | | | | | | | | | | | | | | | |
Identity of party involved | | Description of asset | | Number of
transactions | | Purchase
price | | Selling price | | Cost of asset | | Current value
of asset on
transaction
date | | Net gain |
Category (i) - individual transactions in excess of 5% of Plan assets: None | | | | | | | | | | | | |
| | | | |
Category (iii) - series of transactions in excess of 5% of Plan assets: | | | | | | | | | | | | |
Liberty Global, Inc. (a) | | Series C common stock | | 34 | | $ | 1,281,933 | | $ | — | | $ | 1,281,933 | | $ | 1,281,933 | | $ | — |
Liberty Global, Inc. (a) | | Series C common stock | | 35 | | $ | — | | $ | 863,134 | | $ | 555,217 | | $ | 863,134 | | $ | 307,917 |
| (a) | Represents a party-in-interest as defined by ERISA. |
See accompanying report of independent registered public accounting firm.
11
LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the members of the Administrative Committee have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
| | |
| |
| By: | | /s/ MICHELLE L. KEIST |
| | Michelle L. Keist Member of Administrative Committee |
June 26, 2008
12
LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
EXHIBIT INDEX
Shown below are the exhibits, which are filed or furnished as a part of this Report—
| | |
| 23 – | | Consent of Independent Registered Public Accounting Firm |
13
