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 PLAN – PUERTO RICO
(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 PLAN – PUERTO RICO
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 |
| |
Schedule 3 – Schedule of Delinquent Participant Contributions – Form 5500 Schedule H, Part IV, Line 4a – For the year ended December 31, 2007 | | 12 |
Report of Independent Registered Public Accounting Firm
To Plan Participants and the Plan Committee
Liberty Global 401(k) Savings Plan – Puerto Rico:
We have audited the accompanying statements of net assets available for Plan benefits of the Liberty Global 401(k) Savings Plan – Puerto Rico (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 schedule of assets (held at end of year) as of December 31, 2007, and supplemental schedules of reportable transactions and delinquent participant contributions 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 27, 2008
1
LIBERTY GLOBAL 401(K) SAVINGS PLAN – PUERTO RICO
Statements of Net Assets Available for Plan Benefits
| | | | | | |
| | | December 31, |
| | | 2007 | | 2006 |
Cash, non-interest bearing | | $ | 36,330 | | $ | 100,413 |
Investments, at fair value: | | | | | | |
Liberty Interactive Series A Common Stock Fund | | | 361,966 | | | 548,676 |
Liberty Capital Series A Common Stock Fund | | | 442,080 | | | 498,032 |
Liberty Global, Inc. Series A Common Stock Fund | | | 1,447,600 | | | 1,390,193 |
Liberty Global, Inc. Series C Common Stock Fund | | | 772,138 | | | 124,684 |
Mutual funds | | | 1,654,173 | | | 1,418,097 |
Participant loans | | | 400,196 | | | 305,696 |
| | | | | | |
Total investments | | | 5,078,153 | | | 4,285,378 |
| | | | | | |
Receivables: | | | | | | |
Participant receivables | | | — | | | 16,516 |
Employer receivables | | | — | | | 16,370 |
| | | | | | |
Total receivables | | | — | | | 32,886 |
| | | | | | |
Total Plan assets | | | 5,114,483 | | | 4,418,677 |
| | | | | | |
Less: Payables to participants | | | — | | | 3,019 |
| | | | | | |
Net assets available for Plan benefits | | $ | 5,114,483 | | $ | 4,415,658 |
| | | | | | |
See accompanying notes to financial statements.
2
LIBERTY GLOBAL 401(K) SAVINGS PLAN – PUERTO RICO
Statement of Changes in Net Assets Available for Plan Benefits
Year ended December 31, 2007
| | | | |
Additions to net assets attributed to: | | | | |
Contributions: | | | | |
Participant | | $ | 467,613 | |
Employer, net of forfeitures applied | | | 465,312 | |
| | | | |
Total contributions | | | 932,925 | |
| | | | |
Investment income: | | | | |
Interest and dividends | | | 77,602 | |
Net appreciation in fair value of investments | | | 643,570 | |
| | | | |
Total investment income | | | 721,172 | |
| | | | |
Total additions | | | 1,654,097 | |
| | | | |
Deductions from net assets attributed to: | | | | |
Distributions to participants | | | (945,822 | ) |
Participant loan fees | | | (9,450 | ) |
| | | | |
Total deductions | | | (955,272 | ) |
| | | | |
Net increase in net assets available for Plan benefits | | | 698,825 | |
Net assets available for Plan benefits, beginning of year | | | 4,415,658 | |
| | | | |
Net assets available for Plan benefits, end of year | | $ | 5,114,483 | |
| | | | |
See accompanying notes to financial statements.
3
LIBERTY GLOBAL 401(K) SAVINGS PLAN – PUERTO RICO
Notes to Financial Statements
| (1) | Description of the Plan |
The following description of the Liberty Global 401(k) Savings Plan – Puerto Rico (the Plan) provides only general information. Participants and all others should refer to the Plan document 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. (LMI)) did not already own, and LGI International and UGC each became wholly owned subsidiaries of LGI. Effective April 1, 2006, the Plan sponsor was changed from LMI to LGI.
The Plan, which was established on June 7, 2004, is a defined contribution plan which enables participating employees of Liberty Cablevision of Puerto Rico, Ltd. (LCPR) to receive an interest in LGI and to receive benefits upon retirement. Employees of LCPR who are at least 18 years of age and (i) have worked at least three consecutive months or (ii) have completed one year of service (as defined in the Plan document) are eligible to participate in the Plan. Effective March 1, 2007, employees are automatically enrolled in the plan upon eligibility unless they affirmatively elect not to participate. LGI reserves the right to amend the Plan at any time.
Trustee and Recordkeeper
Under the terms of a trust agreement between LGI and Oriental Financial Group, Inc. (the Trustee) and a recordkeeping and custodial agreement between LGI and Mid Atlantic Trust Company, the Trustee, through Mid Atlantic Trust Company, manages a trust fund on behalf of the Plan and has been granted authority concerning purchases and sales of investments for the trust fund. Caribbean Pension Consultants (CPC) is the third-party Administrator of the Plan.
Contributions
Participants may make (i) pre-tax contributions to the Plan of up to 10% of their eligible compensation, as defined in the Plan, (ii) after-tax contributions up to 10% of their compensation after pre-tax contributions have been made up to the tax limit (as noted below) or (iii) catch-up contributions for participants upon reaching age 50 of up to $1,000. Effective March 1, 2007, upon obtaining eligibility in the Plan, participants are automatically enrolled for a 3% pre-tax contribution of eligible compensation unless they affirmatively elect not to participate or select another pre-tax contribution percentage. Participants may change their contribution elections at any time. 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 contained in the Puerto Rico Internal Revenue Code of 1994, as amended (Puerto Rico Code). Employee pre-tax contributions were limited to the lessor of 10% of compensation (as defined in the Plan) or $8,000 per participant in 2007.
Employee contributions may be invested in any investments in the Plan except for the Aim Short Term Liquid Asset Investment, the Liberty Interactive Series A Common Stock fund, the Liberty Capital Series A Common Stock Fund and the Liberty Global, Inc. Series A Common Stock Fund. Prior to March 1, 2007, employees were allowed to invest in the Liberty Interactive Series A Common Stock fund, the Liberty Capital Series A Common Stock Fund and the Liberty Global, Inc. Series A Common Stock Fund. Employer contributions for participants who are not fully vested are invested in the LGI Series C Common Stock Fund. Participants who are fully vested in their employer contributions can direct the employer contributions to any investment in the Plan except for the Aim Short Term Liquid Asset Investment, the Liberty Interactive Series A Common Stock Fund, the Liberty Capital Series A Common Stock Fund and the Liberty Global, Inc. Series A Common Stock Fund.
Rollovers
Participants may elect to rollover amounts from other qualified plans into the Plan provided that certain conditions are met.
4
LIBERTY GLOBAL 401(K) SAVINGS PLAN – PUERTO RICO
Notes to Financial Statements
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. 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%. This rate remains in effect for the entire calendar quarter unless an updated prime rate plus 1% is implemented by the Plan. 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.
Forfeitures
Forfeitures of employer contributions (due to participants’ termination prior to full vesting) are first used to pay Plan administrative expenses other than participant loan fees (if any), with any excess used to offset LGI’s future matching contributions. Forfeitures for the year ended December 31, 2007 aggregated $30,372. During the year ended December 31, 2007, no Plan expenses were paid out of forfeitures. Forfeitures of $1,789 were used to offset employer contributions during the year ended December 31, 2007. Unallocated forfeitures available as of December 31, 2007 and 2006 were $49,562 and $14,352, respectively.
Investment Options
As of December 31, 2007, the Plan has 20 investment options including 19 mutual funds and one stock fund. Plan participants may change investment options and contribution percentages on a daily basis. The plan also has investments in three additional stock funds that are now closed to contributions. These investments may remain in these stock funds until they are sold.
Benefit Payments
Distributions from the Plan may be made to a participant upon attaining the age of 59 1/2, death, total disability, financial hardship or termination of employment. Distributions and other withdrawals are processed on a daily basis. Benefits may be paid in a lump-sum 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. Certain other in-service distributions are allowed if certain criteria is met.
Vesting
Participant contributions are always fully vested. Participants acquire a vested right in employer matching contributions as follows:
| | |
Years of service | | Vesting
percentage |
Less than 1 | | 0% |
1 | �� | 33% |
2 | | 66% |
3 | | 100% |
For purposes of vesting, participants’ years of service were carried over from the Liberty Media 401(k) Savings Plan, if applicable.
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 Employee Retirement Income Security Act of 1974. The Plan provides for full and immediate vesting of all participant rights upon termination of the Plan.
5
LIBERTY GLOBAL 401(K) SAVINGS PLAN – PUERTO RICO
Notes to Financial Statements
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.
| (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. Participant loans are stated at the outstanding principal balance at year end, which approximates fair value.
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 and includes any capital gain distributions.
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 Plan was submitted to the Puerto Rico tax authorities for a determination that the Plan is qualified under the Puerto Rico code. On March 31, 2006, the Puerto Rico tax authorities provided a favorable determination letter that the Plan is qualified under Puerto Rico laws. The Plan has been amended since the receipt of this determination letter, however the Plan administrator is not aware of any course of action or series of events that have occurred that might adversely affect the Plan’s qualified status.
Voting Rights of LGI Stock
The Trustee holds shares of LGI Series A and C 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 Series A and C 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.
6
LIBERTY GLOBAL 401(K) SAVINGS PLAN – PUERTO RICO
Notes to Financial Statements
Plan Expenses
Any employer contribution amounts forfeited may be used to pay Plan expenses except for any fees related to participant loans, which are paid by participants, and then to offset employer match contributions. Any additional administrative expenses of the Plan are paid by LCPR or LGI. Loan fees paid by participants were $9,450 during 2007.
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 and Delinquent Participant Contributions
The plan contains two funds comprised of LGI common stock, the Liberty Global, Inc. Series A Common Stock Fund and the Liberty Global Series C Common Stock Fund. Transactions in such investments qualify as party-in-interest transactions, which are exempt from the prohibited transaction rules.
During 2008, it was discovered that certain employee contribution and loan repayment withholdings were not remitted timely to the Plan as prescribed under the Department of Labor’s rules and regulations. The employee contribution and loan repayment withholdings were remitted to the Plan during 2007. Lost earnings will be remitted as soon as administratively possible. See Supplemental Schedule 3.
| (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 | |
Liberty Interactive Series A Common Stock* | | $ | 361,966 | | $ | 548,676 | |
Liberty Capital Series A Common Stock* | | $ | 442,080 | | $ | 498,032 | |
Liberty Global, Inc. Series A Common Stock* | | $ | 1,447,600 | | $ | 1,390,193 | |
Liberty Global Series C Common Stock* | | $ | 772,138 | | $ | 124,684 | ** |
Fidelity Investment Grade Bond | | $ | 284,390 | | $ | 324,650 | |
Fidelity Retirement Money Market Account | | $ | 428,559 | | $ | 355,991 | |
Participant loans | | $ | 400,196 | | $ | 305,696 | |
| | * | Participant and non-participant directed investments. |
| | ** | Represents less than 5% of the Plan’s net assets at December 31, 2006. |
7
LIBERTY GLOBAL 401(K) SAVINGS PLAN – PUERTO RICO
Notes to Financial Statements
| (5) | Changes in Net Assets Available for Plan Benefits by Investment Alternative |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Year ended December 31, 2007 | |
| | | Liberty
Global, Inc.
Series A
Common
Stock
Fund (a)(c) | | | Liberty
Global, Inc.
Series C
Common
Stock
Fund (a) | | | Liberty
Interactive
Series A
Common
Stock
Fund (a)(c) | | | Liberty
Capital
Series A
Common
Stock
Fund (a)(c) | | | Other
Investments (b) | | | Total | |
Additions to net assets attributed to: | | | | | | | | | | | | | | | | | | | | | | | | |
Contributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Participant | | $ | — | | | $ | 20,110 | | | $ | 130 | | | $ | 244 | | | $ | 447,129 | | | $ | 467,613 | |
Employer, net of forfeitures applied | | | — | | | | 458,282 | | | | — | | | | — | | | | 7,030 | | | | 465,312 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total contributions | | | — | | | | 478,392 | | | | 130 | | | | 244 | | | | 454,159 | | | | 932,925 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Investment income: | | | | | | | | | | | | | | | | | | | | | | | | |
Interest and dividends | | | — | | | | — | | | | — | | | | — | | | | 77,602 | | | | 77,602 | |
Net appreciation (depreciation) in fair value of investments | | | 467,453 | | | | 88,530 | | | | (40,127 | ) | | | 91,509 | | | | 36,205 | | | | 643,570 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total investment income | | | 467,453 | | | | 88,530 | | | | (40,127 | ) | | | 91,509 | | | | 113,807 | | | | 721,172 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total additions (reductions) | | | 467,453 | | | | 566,922 | | | | (39,997 | ) | | | 91,753 | | | | 567,966 | | | | 1,654,097 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Deductions from net assets attributed to: | | | | | | | | | | | | | | | | | | | | | | | | |
Distributions to participants | | | (273,991 | ) | | | (86,962 | ) | | | (99,090 | ) | | | (101,533 | ) | | | (384,246 | ) | | | (945,822 | ) |
Administrative expenses | | | — | | | | — | | | | — | | | | — | | | | (9,450 | ) | | | (9,450 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total deductions | | | (273,991 | ) | | | (86,962 | ) | | | (99,090 | ) | | | (101,533 | ) | | | (393,696 | ) | | | (955,272 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Exchanges, participant loan withdrawals and repayments, net | | | (136,055 | ) | | | 167,494 | | | | (47,623 | ) | | | (46,172 | ) | | | 62,356 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net increase (decrease) in net assets available for Plan benefits | | | 57,407 | | | | 647,454 | | | | (186,710 | ) | | | (55,952 | ) | | | 236,626 | | | | 698,825 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net assets available for Plan benefits, beginning of year | | | 1,390,193 | | | | 124,684 | | | | 548,676 | | | | 498,032 | | | | 1,854,073 | | | | 4,415,658 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net assets available for Plan benefits, end of year | | $ | 1,447,600 | | | $ | 772,138 | | | $ | 361,966 | | | $ | 442,080 | | | $ | 2,090,699 | | | $ | 5,114,483 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| (a) | Participant and non-participant directed investments. |
| (b) | Participant directed investments. |
| (c) | Funds are closed to new investments. |
8
LIBERTY GLOBAL 401(K) SAVINGS PLAN – PUERTO RICO
Notes to Financial Statements
| (6) | Concentrations, Risks and Uncertainties |
The Plan invests in various investment securities. 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 and participant’s accounts. Changes in the market prices of the Liberty Global, Inc. Series A common stock, the Liberty Global Series C common stock, the Liberty Interactive Series A common stock, and the Liberty Capital Series A common stock prices can have a significant impact on the Plan’s net assets available for Plan benefits and participant accounts as the funds represent the following percentages of the net assets available for Plan benefits:
| | | | |
| | | Percentage of net assets
December 31, |
| | | 2007 | | 2006 |
Liberty Global, Inc. Series A Common Stock Fund | | 28% | | 31% |
Liberty Global Series C Common Stock Fund | | 15% | | 3% |
Liberty Interactive Series A Common Stock Fund | | 7% | | 12% |
Liberty Capital Series A Common Stock Fund | | 9% | | 11% |
| (7) | Reconciliations of Financial Statements to Form 5500 |
The following are reconciliations of (i) net assets available for Plan benefits and (ii) distributions to participants per the accompanying financial statements to Form 5500:
| | | | | | | |
| | | December 31, | |
| | | 2007 | | 2006 | |
Net assets available for Plan benefits per the accompanying financial statements | | $ | 5,114,483 | | $ | 4,415,658 | |
Benefits payable to participants at December 31, 2007 | | | — | | | (28,812 | ) |
| | | | | | | |
Net assets available for Plan benefits per the Form 5500 | | $ | 5,114,483 | | $ | 4,386,846 | |
| | | | | | | |
| | | | |
| | | Year ended
December 31, 2007 | |
Distributions to participants per the accompanying financial statements | | $ | 945,822 | |
Less: Benefits payable to participants at December 31, 2006 | | | (28,812 | ) |
| | | | |
Benefit payments per the Form 5500 | | $ | 917,010 | |
| | | | |
On March 3, 2008, Liberty Media Corporation completed the reclassification (stock split) of its Liberty Capital common stock. Each share of Liberty Capital common stock was reclassified as one share of the reclassified Liberty Capital common stock and four shares of the new Liberty Entertainment common stock.
9
LIBERTY GLOBAL 401(K) SAVINGS PLAN - PUERTO RICO
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 |
| Liberty Interactive Series A common stock | | Common stock of former Plan sponsor, (historical cost – $327,564) | | 18,971 | | $ | 361,966 |
| Liberty Capital Series A common stock | | Common stock of former Plan sponsor (historical cost – $256,164) | | 3,795 | | | 442,080 |
| * Liberty Global, Inc. Series A common stock | | Common stock of Plan sponsor (historical cost – $785,109) | | 36,938 | | | 1,447,600 |
| * Liberty Global, Inc. Series C common stock | | Common stock of Plan sponsor (historical cost – $696,881) | | 21,094 | | | 772,138 |
| Cash (held in stock purchase account) | | Cash | | — | | | 36,330 |
| Templeton Foreign A | | Mutual fund | | 8,861 | | | 110,931 |
| Aim Short Term Liquid Asset | | Mutual fund | | 6,058 | | | 6,058 |
| Davis New York Venture A | | Mutual fund | | 1,308 | | | 52,329 |
| PIMCO High Yield Fund – Administrative Class | | Mutual fund | | 972 | | | 9,276 |
| Allianz NFJ Small Cap Value – Institutional Class | | Mutual fund | | 1,551 | | | 47,717 |
| Baron Growth | | Mutual fund | | 1,964 | | | 99,521 |
| Spartan International Index | | Mutual fund | | 1,944 | | | 91,928 |
| Spartan U.S. Equity Index | | Mutual fund | | 1,993 | | | 103,414 |
| Fidelity Equity Income | | Mutual fund | | 3,049 | | | 168,204 |
| Fidelity Investment Grade Bond | | Mutual fund | | 39,553 | | | 284,390 |
| Fidelity Retirement Money Market Account | | Mutual fund | | 428,559 | | | 428,559 |
| Fidelity Blue Chip Growth | | Mutual fund | | 1,234 | | | 54,353 |
| Fidelity Low-Priced Stock | | Mutual fund | | 1,025 | | | 42,160 |
| Fidelity Freedom Income | | Mutual fund | | 176 | | | 2,012 |
| Fidelity Freedom 2000 | | Mutual fund | | 87 | | | 1,070 |
| Fidelity Freedom 2010 | | Mutual fund | | 2,602 | | | 38,563 |
| Fidelity Freedom 2020 | | Mutual fund | | 3,864 | | | 61,091 |
| Fidelity Freedom 2030 | | Mutual fund | | 1,015 | | | 16,760 |
| Fidelity Freedom 2040 | | Mutual fund | | 2,305 | | | 22,430 |
| Fidelity Freedom 2050 | | Mutual fund | | 1,173 | | | 13,407 |
| * Participant loans | | Interest rates ranging from 5.00% to 9.25%, with various maturity dates | | — | | | 400,196 |
| | | | | | | |
| | | | | | $ | 5,114,483 |
| | | | | | | |
| * | LGI is the Plan sponsor, which is a party-in-interest as defined by ERISA. |
See accompanying report of independent registered public accounting firm.
10
LIBERTY GLOBAL 401(K) SAVINGS PLAN - PUERTO RICO
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. Series A common stock* | | Common
stock | | 4 | | $ | 21,325 | | $ | — | | $ | 21,325 | | $ | 21,325 | | $ | — |
Liberty Global, Inc. Series A common stock* | | Common
stock | | 77 | | $ | — | | $ | 431,560 | | $ | 240,346 | | $ | 431,560 | | $ | 191,214 |
Liberty Global, Inc. Series C common stock * | | Common
stock | | 36 | | $ | 687,038 | | $ | — | | $ | 687,038 | | $ | 687,038 | | $ | — |
Liberty Global, Inc. Series C common stock * | | Common
stock | | 77 | | $ | — | | $ | 150,115 | | $ | 125,860 | | $ | 150,115 | | $ | 24,255 |
| * | LGI is the Plan sponsor, which is a party-in-interest as defined by ERISA. |
See accompanying report of independent registered public accounting firm.
11
LIBERTY GLOBAL 401(K) SAVINGS PLAN - PUERTO RICO
SCHEDULE OF DELINQUENT PARTICIPANT CONTRIBUTIONS
FORM 5500 SCHEDULE H, Part IV, Line 4a
For the Year ended December 31, 2007
Supplemental Schedule 3
| | | | | | | | | | | | | |
Identity of party involved | | Participant
contributions
and loan
repayments
remitted late
during plan
year | | Withholding
amount
remitted
late | | Date contribution
remitted | | Date lost
earnings
remitted | | Total remitted
(including lost
earnings) | |
Liberty Cablevision of Puerto Rico, LTD* | | Employee Payroll Withholdings March 15, 2007 | | $ | 12,335 | | September 25, 2007 | | Pending | | $
| 12,335
(lost earnings pending |
) |
| * | Liberty Cablevision of Puerto Rico, LTD is the adopting employer, which is a party-in-interest, as defined by ERISA. |
See accompanying report of independent registered public accounting firm.
12
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the members of the Plan Committee have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
| | |
| LIBERTY GLOBAL 401(k) SAVINGS PLAN –PUERTO RICO |
| |
| By | | /s/ Bernard Dvorak |
| | Bernard Dvorak Member of Plan Committee |
June 30, 2008
13
EXHIBIT INDEX
Shown below are the exhibits which are filed or furnished as a part of this Report –
| | | | |
| | |
23.1 | | – | | Consent of Independent Registered Public Accounting Firm – Anton Collins Mitchell LLP |
14
