Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |||
Sep. 30, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | |
Class A Ordinary Shares [Member] | Class B Ordinary Shares [Member] | Class C Ordinary Shares [Member] | ||
Entity Registrant Name | 'Liberty Global plc | ' | ' | ' |
Entity Central Index Key | '0001570585 | ' | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' | ' |
Document Type | '10-Q | ' | ' | ' |
Document Period End Date | 30-Sep-13 | ' | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' | ' |
Document Fiscal Period Focus | 'Q3 | ' | ' | ' |
Amendment Flag | 'false | ' | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 221,609,458 | 10,174,295 | 163,324,432 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Current assets: | ' | ' | ||
Cash and cash equivalents | $2,206.50 | $2,038.90 | ||
Trade receivables, net | 1,492.20 | 1,031 | ||
Prepaid expenses | 294.2 | 139 | ||
Other current assets (note 4) | 738.6 | 516.9 | ||
Total current assets | 4,731.50 | 3,725.80 | ||
Restricted cash (notes 2 and 9) | 5.3 | 1,516.70 | ||
Investments (including $3,306.0 million and $947.9 million, respectively, measured at fair value and $935.4 million and nil, respectively, subject to re-use rights) (note 3) | 3,307.10 | 950.1 | ||
Property and equipment, net (note 6) | 23,730.50 | 13,437.60 | ||
Goodwill (note 6) | 23,565.60 | 13,877.60 | ||
Intangible assets subject to amortization, net (note 6) | 6,148.60 | 2,581.30 | ||
Other assets, net (note 4) | 4,507.40 | 2,218.60 | ||
Total assets | 65,996 | 38,307.70 | ||
Current liabilities: | ' | ' | ||
Accounts payable | 1,032 | 774 | ||
Deferred revenue and advance payments from subscribers and others | 1,171.70 | 849.7 | ||
Current portion of debt and capital lease obligations (note 7) | 854.1 | [1] | 363.5 | [1] |
Derivative instruments (note 4) | 675 | [2] | 569.9 | [2] |
Accrued interest | 605.7 | 351.8 | ||
Accrued programming | 403.7 | 251 | ||
Other accrued and current liabilities | 2,317.20 | 1,460.40 | ||
Total current liabilities | 7,059.40 | 4,620.30 | ||
Long-term debt and capital lease obligations (note 7) | 43,147.60 | [1] | 27,161 | [1] |
Other long-term liabilities (note 4) | 4,392.30 | 4,441.30 | ||
Total liabilities | 54,599.30 | 36,222.60 | ||
Commitments and contingencies (notes 2, 4, 7 and 13) | ' | ' | ||
Liberty Global shareholders: | ' | ' | ||
Additional paid-in capital | 12,897.90 | 2,955.60 | ||
Accumulated deficit | -3,191.40 | -2,348.70 | ||
Accumulated other comprehensive earnings, net of taxes | 2,199.10 | 1,600.50 | ||
Treasury shares, at cost | -11.4 | 0 | ||
Total Liberty Global shareholders | 11,898.10 | 2,210 | ||
Noncontrolling interests | -501.4 | -124.9 | ||
Total equity | 11,396.70 | 2,085.10 | ||
Total liabilities and equity | 65,996 | 38,307.70 | ||
Class A ordinary shares, $0.01 nominal value. Issued and outstanding 222,010,987 and nil shares, respectively | ' | ' | ||
Liberty Global shareholders: | ' | ' | ||
Common stock | 2.2 | 0 | ||
Total equity | 2.2 | 0 | ||
Class B ordinary shares, $0.01 nominal value. Issued and outstanding 10,174,295 and nil shares, respectively | ' | ' | ||
Liberty Global shareholders: | ' | ' | ||
Common stock | 0.1 | 0 | ||
Total equity | 0.1 | 0 | ||
Class C ordinary shares, $0.01 nominal value. Issued and outstanding 163,895,337 and nil shares, respectively | ' | ' | ||
Liberty Global shareholders: | ' | ' | ||
Common stock | 1.6 | 0 | ||
Total equity | 1.6 | 0 | ||
Series A common stock, $0.01 par value. Authorized 500,000,000 shares at December 31, 2012; issued and outstanding nil and 142,284,430 shares, respectively | ' | ' | ||
Liberty Global shareholders: | ' | ' | ||
Common stock | 0 | 1.4 | ||
Total equity | 0 | 1.4 | ||
Series B common stock, $0.01 par value. Authorized 50,000,000 shares at December 31, 2012; issued and outstanding nil and 10,206,145 shares, respectively | ' | ' | ||
Liberty Global shareholders: | ' | ' | ||
Common stock | 0 | 0.1 | ||
Total equity | 0 | 0.1 | ||
Series C common stock, $0.01 par value. Authorized 500,000,000 shares at December 31, 2012; issued and outstanding nil and 106,402,667 shares, respectively | ' | ' | ||
Liberty Global shareholders: | ' | ' | ||
Common stock | 0 | 1.1 | ||
Total equity | $0 | $1.10 | ||
[1] | Amounts include the impact of premiums and discounts, where applicable. | |||
[2] | Our current derivative assets are included in other current assets and our long-term derivative assets and liabilities are included in other assets, net, and other long-term liabilities, respectively, in our condensed consolidated balance sheets. |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2012 |
In Millions, except Share data, unless otherwise specified | |
Investments | $947.90 |
Series A Common Stock [Member] | ' |
Common stock, par/nominal value (in dollars per share) | $0.01 |
Common stock, authorized (in shares) | 500,000,000 |
Common stock, issued (in shares) | 142,284,430 |
Common stock, outstanding (in shares) | 142,284,430 |
Series B Common Stock [Member] | ' |
Common stock, par/nominal value (in dollars per share) | $0.01 |
Common stock, authorized (in shares) | 50,000,000 |
Common stock, issued (in shares) | 10,206,145 |
Common stock, outstanding (in shares) | 10,206,145 |
Series C Common Stock [Member] | ' |
Common stock, par/nominal value (in dollars per share) | $0.01 |
Common stock, authorized (in shares) | 500,000,000 |
Common stock, issued (in shares) | 106,402,667 |
Common stock, outstanding (in shares) | 106,402,667 |
Securities Subject to Re-Use Rights [Member] | ' |
Investments | $0 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Income Statement [Abstract] | ' | ' | ' | ' | ||||
Revenue | $4,371.20 | [1] | $2,519.10 | [1] | $10,300.80 | [1] | $7,580.60 | [1] |
Operating costs and expenses: | ' | ' | ' | ' | ||||
Operating (other than depreciation and amortization) (including share-based compensation) (note 10) | 1,702.90 | 859 | 3,901 | 2,644 | ||||
Selling, general and administrative (SG&A) (including share-based compensation) (note 10) | 766 | 462.6 | 1,898.90 | 1,411.90 | ||||
Depreciation and amortization | 1,390.50 | 670.3 | 2,947.90 | 2,009.70 | ||||
Release of litigation provision | -146 | 0 | -146 | 0 | ||||
Impairment, restructuring and other operating items, net (notes 2 and 11) | 135.9 | 18.1 | 206.5 | 32.6 | ||||
Costs and expenses, Total | 3,849.30 | 2,010 | 8,808.30 | 6,098.20 | ||||
Operating income | 521.9 | 509.1 | 1,492.50 | 1,482.40 | ||||
Non-operating income (expense): | ' | ' | ' | ' | ||||
Interest expense | -630.2 | -408.6 | -1,642.70 | -1,228.80 | ||||
Interest and dividend income (note 3) | 62 | 17.8 | 111.2 | 38.7 | ||||
Realized and unrealized losses on derivative instruments, net (note 4) | -876.3 | -237.2 | -685.2 | -613.9 | ||||
Foreign currency transaction gains, net | 255 | 150.2 | 211.6 | 154.8 | ||||
Realized and unrealized gains (losses) due to changes in fair values of certain investments, net (notes 3 and 5) | 78.9 | -18.1 | 344.1 | -1.3 | ||||
Losses on debt modification and extinguishment, net (note 7) | -0.7 | -13.8 | -170.7 | -27.5 | ||||
Gains due to changes in ownership | 0 | 52.5 | 0 | 52.5 | ||||
Other income (expense), net | -3.4 | 3.4 | -6.6 | -0.6 | ||||
Nonoperating income (expense), Total | -1,114.70 | -453.8 | -1,838.30 | -1,626.10 | ||||
Earnings (loss) from continuing operations before income taxes | -592.8 | 55.3 | -345.8 | -143.7 | ||||
Income tax expense (note 8) | -228.8 | -61.1 | -445.2 | -106 | ||||
Loss from continuing operations | -821.6 | -5.8 | -791 | -249.7 | ||||
Earnings from discontinued operation, net of taxes | 0 | 0 | 0 | 35.5 | ||||
Gain on disposal of discontinued operation, net of taxes | 0 | 0 | 0 | 924.1 | ||||
Earnings (loss) from discontinued operations | 0 | 0 | 0 | 959.6 | ||||
Net earnings (loss) | -821.6 | -5.8 | -791 | 709.9 | ||||
Net earnings attributable to noncontrolling interests | -8.5 | -16.6 | -51.7 | -55.8 | ||||
Net earnings (loss) attributable to Liberty Global shareholders | ($830.10) | ($22.40) | ($842.70) | $654.10 | ||||
Basic and diluted earnings (loss) attributable to Liberty Global shareholders per share (note 12): | ' | ' | ' | ' | ||||
Continuing operations (in dollars per share) | ($2.09) | ($0.08) | ($2.66) | ($1.06) | ||||
Discontinued operation (in dollars per share) | $0 | $0 | $0 | $3.49 | ||||
Earnings and diluted earnings (loss) attributable to LGI stockholders (in dollars per share) | ($2.09) | ($0.08) | ($2.66) | $2.43 | ||||
Weighted average common shares outstanding - basic and diluted (in shares) | 398,076,407 | 265,597,642 | 316,349,390 | 269,309,700 | ||||
[1] | In connection with the Virgin Media Acquisition, we determined that we would no longer externally report digital subscriber line (DSL) subscribers as revenue generating units (RGUs). Accordingly, we have reclassified the revenue from our DSL subscribers in Austria from broadband internet and telephony subscription revenue to other revenue for all periods presented. |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Earnings (Loss) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Statement of Other Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net earnings (loss) | ($821.60) | ($5.80) | ($791) | $709.90 |
Other comprehensive earnings, net of taxes: | ' | ' | ' | ' |
Foreign currency translation adjustments | 1,068.80 | 14.3 | 589.5 | 106.9 |
Reclassification adjustments included in net earnings | 0 | 0 | 0 | -12 |
Other | 0 | 0 | 0.4 | 0.4 |
Other comprehensive earnings | 1,068.80 | 14.3 | 589.9 | 95.3 |
Comprehensive earnings (loss) | 247.2 | 8.5 | -201.1 | 805.2 |
Comprehensive earnings attributable to noncontrolling interests | -5.5 | -21.1 | -43 | -62 |
Comprehensive earnings (loss) attributable to Liberty Global shareholders | $241.70 | ($12.60) | ($244.10) | $743.20 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statement of Equity (USD $) | Total | Additional paid-in capital | Accumulated deficit | Accumulated other comprehensive earnings, net of taxes | Treasury shares, at cost | Total Liberty Global shareholders | Non-controlling interests | Class A Ordinary Shares [Member] | Class B Ordinary Shares [Member] | Class C Ordinary Shares [Member] | Series A Common Stock [Member] | Series B Common Stock [Member] | Series C Common Stock [Member] |
In Millions, unless otherwise specified | |||||||||||||
Beginning balance at Dec. 31, 2012 | $2,085.10 | $2,955.60 | ($2,348.70) | $1,600.50 | $0 | $2,210 | ($124.90) | $0 | $0 | $0 | $1.40 | $0.10 | $1.10 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | -791 | ' | -842.7 | ' | ' | -842.7 | 51.7 | ' | ' | ' | ' | ' | ' |
Other comprehensive earnings, net of taxes | 589.9 | ' | ' | 598.6 | ' | 598.6 | -8.7 | ' | ' | ' | ' | ' | ' |
Shares issued in connection with the Virgin Media Acquisition and impacts of related change in parent entity (notes 1 and 2) | 9,375.30 | 9,374.10 | ' | ' | ' | 9,375.30 | ' | 2.1 | 0.1 | 1.6 | -1.4 | -0.1 | -1.1 |
Revaluation of VM Convertible Notes in connection with the Virgin Media Acquisition (note 2) | 1,660 | 1,660 | ' | ' | ' | 1,660 | ' | ' | ' | ' | ' | ' | ' |
Repurchase and cancellation of Liberty Global and LGI shares (note 9) | -867.5 | -867.4 | ' | ' | ' | -867.5 | ' | ' | ' | -0.1 | ' | ' | ' |
Distributions by subsidiaries to noncontrolling interest owners (note 9) | -540.2 | ' | ' | ' | ' | ' | -540.2 | ' | ' | ' | ' | ' | ' |
Purchase of additional Telenet shares (note 9) | -462.6 | -526.2 | ' | ' | ' | -526.2 | 63.6 | ' | ' | ' | ' | ' | ' |
Share-based compensation (note 10) | 142.3 | 142.3 | ' | ' | ' | 142.3 | ' | ' | ' | ' | ' | ' | ' |
Exchange of VM Convertible Notes (note 7) | 113.7 | 113.5 | ' | ' | ' | 113.7 | ' | 0.1 | ' | ' | ' | ' | ' |
Shares issued to subsidiary (note 9) | 0 | 20.2 | ' | ' | -20.2 | ' | ' | ' | ' | ' | ' | ' | ' |
Adjustments due to changes in subsidiariesb equity and other, net | 91.7 | 25.8 | ' | ' | -8.8 | 34.6 | 57.1 | ' | ' | ' | ' | ' | ' |
Ending balance at Sep. 30, 2013 | $11,396.70 | $12,897.90 | ($3,191.40) | $2,199.10 | ($11.40) | $11,898.10 | ($501.40) | $2.20 | $0.10 | $1.60 | $0 | $0 | $0 |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities: | ' | ' |
Net earnings (loss) | ($791) | $709.90 |
Earnings from discontinued operation | 0 | -959.6 |
Earnings from discontinued operation | -791 | -249.7 |
Adjustments to reconcile loss from continuing operations to net cash provided by operating activities: | ' | ' |
Share-based compensation expense | 219.4 | 90.5 |
Depreciation and amortization | 2,947.90 | 2,009.70 |
Release of litigation provision | -146 | 0 |
Impairment, restructuring and other operating items, net | 206.5 | 32.6 |
Amortization of deferred financing costs and non-cash interest accretion | 55.8 | 47.8 |
Realized and unrealized losses on derivative instruments, net | 685.2 | 613.9 |
Foreign currency transaction gains, net | -211.6 | -154.8 |
Realized and unrealized losses (gains) due to changes in fair values of certain investments, net of dividends | -341.5 | 6.9 |
Losses on debt modification and extinguishment, net | 170.7 | 27.5 |
Deferred income tax expense | 174.4 | 156.3 |
Gains due to changes in ownership | 0 | -52.5 |
Changes in operating assets and liabilities, net of the effects of acquisitions and dispositions | -503.8 | -703.2 |
Net cash provided by operating activities of discontinued operation | 0 | 61.2 |
Net cash provided by operating activities | 2,466 | 1,886.20 |
Cash flows from investing activities: | ' | ' |
Cash paid in connection with acquisitions, net of cash acquired | -4,069.20 | -119.2 |
Investments in and loans to affiliates and others | -1,336.40 | -81 |
Capital expenditures | -1,800.20 | -1,450.70 |
Proceeds received upon disposition of discontinued operation | 0 | 1,055.40 |
Other investing activities, net | -47.4 | 39.6 |
Net cash used by investing activities of discontinued operation | 0 | -51.7 |
Net cash used by investing activities | -7,253.20 | -607.6 |
Cash flows from financing activities: | ' | ' |
Borrowings of debt | 9,254.60 | 4,142.20 |
Repayments and repurchases of debt and capital lease obligations | -7,823.70 | -2,595.70 |
Change in cash collateral | 3,593.50 | 60.5 |
Decrease in restricted cash related to the Telenet Tender | 1,539.70 | 0 |
Repurchase of Liberty Global and LGI shares | -860.7 | -617.2 |
Net cash received (paid) related to derivative instruments | 537 | -113.1 |
Distributions by subsidiaries to noncontrolling interests | -533.2 | -325.3 |
Purchase of additional Telenet shares | -457.7 | 0 |
Payment of financing costs and debt premiums | -356.1 | -70.6 |
Payment of net settled employee withholding taxes on share-based incentive awards | -51.3 | -34.1 |
Other financing activities, net | 50.7 | -67 |
Net cash provided by financing activities | 4,892.80 | 379.7 |
Effect of exchange rate changes on cash: | ' | ' |
Continuing operations | 62 | 17.3 |
Discontinued operation | 0 | -9.5 |
Total | 62 | 7.8 |
Net increase in cash and cash equivalents: | ' | ' |
Continuing operations | 167.6 | 1,666.10 |
Discontinued operation | 0 | 0 |
Net increase in cash and cash equivalents | 167.6 | 1,666.10 |
Cash and cash equivalents: | ' | ' |
Beginning of period | 2,038.90 | 1,651.20 |
End of period | 2,206.50 | 3,317.30 |
Cash paid for interest: | ' | ' |
Continuing operations | 1,498.50 | 1,147.70 |
Discontinued operation | 0 | 29 |
Total | 1,498.50 | 1,176.70 |
Net cash paid for taxes b continuing operations | $77.10 | $8 |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation | |
Liberty Global plc (Liberty Global) is a public limited company organized under the laws of England and Wales. As a result of a series of mergers that were completed on June 7, 2013, Liberty Global became the publicly-held parent company of the successors by merger of Liberty Global, Inc. (LGI) (the predecessor to Liberty Global) and Virgin Media Inc. (Virgin Media), as further described in note 2. In these notes, the terms “we,” “our,” “our company,” and “us” may refer, as the context requires, to Liberty Global (or its predecessor) or collectively to Liberty Global (or its predecessor) and its subsidiaries. | |
We are an international provider of video, broadband internet, fixed-line telephony and mobile services, with consolidated operations at September 30, 2013 in 14 countries. Our European and Chilean operations are conducted through our wholly-owned subsidiary, Liberty Global Europe Holding BV (Liberty Global Europe). Through Liberty Global Europe’s wholly-owned subsidiary, UPC Holding BV (UPC Holding), we provide video, broadband internet and fixed-line telephony services in nine European countries and in Chile. UPC Holding also provides mobile services in certain European countries. Through Liberty Global Europe’s 57.8%-owned subsidiary, Telenet Group Holding NV (Telenet), we provide video, broadband internet, fixed-line telephony and mobile services in Belgium. The European broadband communications and direct-to-home satellite (DTH) operations of UPC Holding, the broadband communications and mobile operations in the United Kingdom (U.K.) of Virgin Media and the broadband communications and mobile operations in Germany of Unitymedia KabelBW GmbH (Unitymedia KabelBW), another wholly-owned subsidiary of Liberty Global Europe, are collectively referred to herein as the “European Operations Division.” UPC Holding’s broadband communications operations in Chile are provided through its 80%-owned subsidiary, VTR Global Com SA (VTR). Through our 80%-owned subsidiary, VTR Wireless SA (VTR Wireless), we offer mobile services in Chile. The operations of VTR and VTR Wireless are collectively referred to as the “VTR Group.” For information regarding strategic changes that we are implementing with regard to the mobile operations of VTR Wireless, see note 6. Our operations also include (i) consolidated broadband communications operations in Puerto Rico that we conduct through a 60%-owned subsidiary and (ii) consolidated interests in certain programming businesses in Europe and Latin America. Our consolidated programming interests in Europe and Latin America are primarily held through Chellomedia BV (Chellomedia), another wholly-owned subsidiary of Liberty Global Europe, which also owns or manages investments in various other businesses, primarily in Europe. Certain of Chellomedia’s subsidiaries and affiliates provide programming services to certain of our broadband communications operations, primarily in Europe. On October 28, 2013, we entered into an agreement to sell substantially all of Chellomedia’s assets. For additional information, see note 15. | |
On May 23, 2012, we completed the sale of our then 54.15%-owned subsidiary, Austar United Communications Limited (Austar), a provider of DTH services in Australia. Accordingly, (i) our condensed consolidated statement of operations and our condensed consolidated statement of cash flows for the nine months ended September 30, 2012 have been reclassified to present Austar as a discontinued operation and (ii) the amounts presented in these notes relate only to our continuing operations, unless otherwise noted. For additional information regarding the disposition of Austar, see note 2. | |
Our unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) and with the instructions to Form 10-Q and Article 10 of Regulation S-X for interim financial information. Accordingly, these financial statements do not include all of the information required by GAAP or Securities and Exchange Commission (SEC) rules and regulations for complete financial statements. In the opinion of management, these financial statements reflect all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the results of operations for the interim periods presented. The results of operations for any interim period are not necessarily indicative of results for the full year. These unaudited condensed consolidated financial statements should be read in conjunction with our 2012 consolidated financial statements and notes thereto included in our 2012 Annual Report on Form 10-K/A. | |
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Estimates and assumptions are used in accounting for, among other items, the valuation of acquisition-related assets and liabilities, allowances for uncollectible accounts, deferred income taxes and related valuation allowances, loss contingencies, fair value measurements, impairment assessments, capitalization of internal costs associated with construction and installation activities, useful lives of long-lived assets, share-based compensation and actuarial liabilities associated with certain benefit plans. Actual results could differ from those estimates. | |
Unless otherwise indicated, ownership percentages and convenience translations into United States (U.S.) dollars are calculated as of September 30, 2013. | |
Certain prior period amounts have been reclassified to conform to the current year presentation. |
Acquisitions_and_Dispositions
Acquisitions and Dispositions | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Acquisitions and Dispositions [Abstract] | ' | |||||||||||||||
Acquisitions, Disposition and Discontinued Operation | ' | |||||||||||||||
Acquisitions and Discontinued Operation | ||||||||||||||||
Acquisition of Virgin Media | ||||||||||||||||
On June 7, 2013, pursuant to an Agreement and Plan of Merger (the Virgin Media Merger Agreement) with Virgin Media and following receipt of regulatory and shareholder approvals, we acquired Virgin Media in a stock and cash merger (the Virgin Media Acquisition). Virgin Media is one of the U.K.’s largest providers of residential broadband internet, television, fixed-line telephony and mobile services in terms of number of customers. We acquired Virgin Media in order to achieve certain financial, operational and strategic benefits through the integration of Virgin Media with our existing European operations. | ||||||||||||||||
Pursuant to the Virgin Media Merger Agreement: | ||||||||||||||||
• | Each share of common stock of Virgin Media was converted into the right to receive (i) 0.2582 Class A ordinary shares of Liberty Global, (ii) 0.1928 Class C ordinary shares of Liberty Global and (iii) $17.50 in cash (collectively, the Virgin Media Merger Consideration); and | |||||||||||||||
• | Each share of Series A common stock of LGI was converted into the right to receive one Class A ordinary share of Liberty Global; each share of Series B common stock of LGI was converted into the right to receive one Class B ordinary share of Liberty Global; and each share of Series C common stock of LGI was converted into the right to receive one Class C ordinary share of Liberty Global. | |||||||||||||||
In connection with the completion of the Virgin Media Acquisition, we issued 70,233,842 Class A and 52,444,170 Class C ordinary shares to holders of Virgin Media common stock and 141,234,331 Class A, 10,176,295 Class B and 105,572,797 Class C ordinary shares to holders of LGI Series A, Series B and Series C common stock, respectively. Each Class A ordinary share is entitled to one vote per share, each Class B ordinary share is entitled to ten votes per share and each Class C ordinary share was issued without voting rights. | ||||||||||||||||
In connection with the execution of the Virgin Media Merger Agreement, we entered into various debt financing arrangements. For additional information, see note 7. | ||||||||||||||||
In a transaction that did not impact our cash and cash equivalents, the net proceeds (after deducting certain transaction expenses)from the April 2021 VM Senior Secured Notes and 2023 VM Senior Notes (each as defined and described in note 7) of $3,557.5 million (equivalent at the transaction date) were placed into segregated escrow accounts (the Virgin Media Escrow Accounts) with a trustee. Such net proceeds were released in connection with the closing of the Virgin Media Acquisition. | ||||||||||||||||
The Virgin Media Acquisition and related refinancing transactions were funded with a combination of (i) the proceeds from the Virgin Media Escrow Accounts, (ii) borrowings under the VM Credit Facility (as defined and described in note 7) and (iii) our and Virgin Media’s existing liquidity. | ||||||||||||||||
For accounting purposes, the Virgin Media Acquisition was treated as the acquisition of Virgin Media by Liberty Global (as the successor to LGI). In this regard, the equity and cash consideration paid to acquire Virgin Media is set forth below (in millions): | ||||||||||||||||
Class A ordinary shares (a) | $ | 5,354.60 | ||||||||||||||
Class C ordinary shares (a) | 3,750.30 | |||||||||||||||
Cash (b) | 4,760.20 | |||||||||||||||
Fair value of the vested portion of Virgin Media stock incentive awards (c) | 270.4 | |||||||||||||||
Total equity and cash consideration | $ | 14,135.50 | ||||||||||||||
_______________ | ||||||||||||||||
(a) | Represents the value assigned to the 70,233,842 Class A and 52,444,170 Class C ordinary shares issued to Virgin Media shareholders in connection with the Virgin Media Acquisition. These amounts are based on (i) the exchange ratios specified by the Virgin Media Merger Agreement, (ii) the closing per share price on June 7, 2013 of Series A and Series C LGI common stock of $76.24 and $71.51, respectively, and (iii) the 272,013,333 outstanding shares of Virgin Media common stock at June 7, 2013. | |||||||||||||||
(b) | Represents the cash consideration paid in connection with the Virgin Media Acquisition. This amount is based on (i) the $17.50 per share cash consideration specified by the Virgin Media Merger Agreement and (ii) the 272,013,333 outstanding shares of Virgin Media common stock at June 7, 2013. | |||||||||||||||
(c) | Represents the portion of the estimated fair value of the Virgin Media stock incentive awards that are attributable to services provided prior to the June 7, 2013 acquisition date. The estimated fair value is based on the attributes of the 13.03 million outstanding Virgin Media stock incentive awards at June 7, 2013, including the market price of the underlying Virgin Media common stock. The outstanding Virgin Media stock incentive awards at June 7, 2013 include 9.86 million stock options that have been valued using Black Scholes option valuations. In addition, Virgin Media’s stock incentive awards at June 7, 2013 included 3.17 million restricted stock units that included performance conditions and, in certain cases, market conditions. Those restricted stock units with market conditions have been valued using Monte Carlo simulation models. | |||||||||||||||
The purchase price allocation for Virgin Media, as reflected in these condensed consolidated financial statements, is preliminary and subject to adjustment based on our final assessment of the fair values of the acquired identifiable assets and liabilities. Although most of the items in the valuation process remain open, the items with the highest likelihood of changing upon finalization of the valuation process include property and equipment, goodwill, customer relationships and income taxes. A summary of the preliminary purchase price and opening balance sheet for the Virgin Media Acquisition at the June 7, 2013 acquisition date is presented in the following table (in millions): | ||||||||||||||||
Cash and cash equivalents | $ | 694.6 | ||||||||||||||
Other current assets | 935.9 | |||||||||||||||
Property and equipment, net | 9,863.10 | |||||||||||||||
Goodwill (a) | 9,020.20 | |||||||||||||||
Intangible assets subject to amortization (b) | 3,925.80 | |||||||||||||||
Other assets, net | 4,236.60 | |||||||||||||||
Current portion of debt and capital lease obligations | (1,184.5 | ) | ||||||||||||||
Other accrued and current liabilities (c) (d) | (1,892.5 | ) | ||||||||||||||
Long-term debt and capital lease obligations | (8,477.4 | ) | ||||||||||||||
Other long-term liabilities (c) | (1,326.3 | ) | ||||||||||||||
Additional paid-in capital (e) | (1,660.0 | ) | ||||||||||||||
Total purchase price (f) | $ | 14,135.50 | ||||||||||||||
__________________ | ||||||||||||||||
(a) | The goodwill recognized in connection with the Virgin Media Acquisition is primarily attributable to (i) the ability to take advantage of Virgin Media’s existing advanced broadband communications network to gain immediate access to potential customers and (ii) substantial synergies that are expected to be achieved through the integration of Virgin Media with our other broadband communications operations in Europe. | |||||||||||||||
(b) | Amount primarily includes intangible assets related to customer relationships. At June 7, 2013, the weighted average useful life of Virgin Media’s intangible assets was approximately seven years. | |||||||||||||||
(c) | No amounts have been allocated to deferred revenue with respect to the ongoing performance obligations associated with Virgin Media's business-to-business (B2B) service contracts, as our view is that the remaining fees to be received under these contracts approximate fair value given our estimates of the costs associated with these ongoing obligations. Our policy is to defer upfront installation and certain nonrecurring fees received on B2B contracts where we maintain ownership of the installed equipment, which generally is the case with Virgin Media's B2B contracts. Under our policy, the deferred fees are amortized into revenue on a straight-line basis over the life of the underlying service contract. | |||||||||||||||
(d) | Amount includes a $35.6 million liability that was recorded to adjust an unfavorable capacity contract to its estimated fair value. This amount will be amortized through the March 31, 2014 expiration date of the contract as a reduction of Virgin Media's operating expenses so that the net effect of this amortization and the payments required under the contract approximate market rates. During the period from June 8, 2013 through September 30, 2013, $11.2 million of this liability was amortized. | |||||||||||||||
(e) | Represents the equity component of the VM Convertible Notes (as defined and described in note 7). During the period from June 7, 2013 through September 30, 2013, 94.4% of the VM Convertible Notes were exchanged for Class A and Class C ordinary shares and cash pursuant to the terms of the VM Convertible Notes Indenture. For additional information, see note 7. | |||||||||||||||
(f) | Excludes direct acquisition costs of $50.3 million. | |||||||||||||||
2012 Acquisition | ||||||||||||||||
Puerto Rico. On November 8, 2012, one of our subsidiaries, LGI Broadband Operations, Inc. (LGI Broadband Operations), completed a series of transactions (collectively, the Puerto Rico Transaction) with certain investment funds affiliated with Searchlight Capital Partners L.P. (collectively, Searchlight) that resulted in their joint ownership of (i) Liberty Cablevision of Puerto Rico LLC (Old Liberty Puerto Rico), a subsidiary of LGI Broadband Operations, and (ii) San Juan Cable, LLC, doing business as OneLink Communications (OneLink), a broadband communications operator in Puerto Rico. In connection with the Puerto Rico Transaction, (i) Old Liberty Puerto Rico and OneLink were merged, with OneLink as the surviving entity, and (ii) OneLink was renamed Liberty Cablevision of Puerto Rico LLC (Liberty Puerto Rico). | ||||||||||||||||
Immediately prior to the acquisition of OneLink, LGI Broadband Operations contributed its 100% interest in Old Liberty Puerto Rico, and Searchlight contributed cash of $94.7 million, to Leo Cable LP (Leo Cable), a newly formed entity. Leo Cable in turn used the cash contributed by Searchlight to fund the acquisition of 100% of the equity of OneLink from a third party (the Seller) for a purchase price of $96.5 million, including closing adjustments and $1.8 million of transaction-related costs paid by Old Liberty Puerto Rico on behalf of the Seller. Such purchase price, together with OneLink’s consolidated net debt (aggregate fair value of debt and capital lease obligations outstanding less cash and cash equivalents) at November 8, 2012 of $496.0 million, resulted in total consideration of $592.5 million, excluding direct acquisition costs of $14.8 million. | ||||||||||||||||
The Seller agreed to retain $10.0 million of the purchase price to satisfy any claims. LGI Broadband Operations has informed the Seller of certain claims with respect to the funds retained by the Seller. Any amounts received upon settlement of these claims, the value and resolution of which is under discussion, will be included as a credit within impairment, restructuring and other operating items, net, in our consolidated statement of operations. | ||||||||||||||||
As a result of the Puerto Rico Transaction, LGI Broadband Operations acquired a 60.0% interest, and Searchlight acquired a 40.0% interest, in Leo Cable. As LGI Broadband Operations’ 60.0% interest represents a controlling financial interest, LGI Broadband Operations consolidates Leo Cable. | ||||||||||||||||
We have accounted for the Puerto Rico Transaction as the acquisition of OneLink and the effective sale of a 40.0% interest in Old Liberty Puerto Rico. The effective sale of the 40.0% interest in Old Liberty Puerto Rico was accounted for as an equity transaction. We have accounted for the acquisition of OneLink using the acquisition method of accounting, whereby the total purchase price was allocated to the acquired identifiable net assets of OneLink based on assessments of their respective fair values, and the excess of the purchase price over the fair values of these identifiable net assets was allocated to goodwill. The acquisition accounting for OneLink as reflected in these condensed consolidated financial statements is preliminary and subject to adjustment based on our final assessment of the fair values of the acquired identifiable assets and liabilities. Although the valuation process has been largely finalized, the measurement period for the acquisition remains open in relation to certain loss contingencies of the acquiree for which additional information is being sought. | ||||||||||||||||
2011 Acquisition | ||||||||||||||||
On September 16, 2011, a subsidiary of UPC Holding paid total cash consideration equal to PLN 2,445.7 million ($784.7 million at the transaction date) in connection with its acquisition of a 100% equity interest in Aster Sp. z.o.o. (Aster), a broadband communications provider in Poland (the Aster Acquisition). The approval of the Aster Acquisition by the regulatory authority in Poland was conditioned upon our agreement to dispose of certain sections of Aster’s network. This condition was satisfied on May | ||||||||||||||||
10, 2013. | ||||||||||||||||
Pro Forma Information | ||||||||||||||||
The following unaudited pro forma condensed consolidated operating results give effect to (i) the Virgin Media Acquisition and (ii) the Puerto Rico Transaction as if they had been completed as of January 1, 2012. These pro forma amounts are not necessarily indicative of the operating results that would have occurred if these transactions had occurred on such date. The pro forma adjustments are based on certain assumptions that we believe are reasonable. | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
in millions, except per share amounts | ||||||||||||||||
Revenue: | ||||||||||||||||
Continuing operations | $ | 4,371.20 | $ | 4,040.70 | $ | 13,070.50 | $ | 12,157.30 | ||||||||
Discontinued operation | — | 106.5 | — | 293.7 | ||||||||||||
Total | $ | 4,371.20 | $ | 4,147.20 | $ | 13,070.50 | $ | 12,451.00 | ||||||||
Net earnings (loss) attributable to Liberty Global shareholders | $ | (830.1 | ) | $ | (56.9 | ) | $ | (1,157.2 | ) | $ | 270.1 | |||||
Basic and diluted earnings (loss) attributable to Liberty Global shareholders per share | $ | (2.09 | ) | $ | (0.14 | ) | $ | (2.90 | ) | $ | 0.65 | |||||
Our condensed consolidated statements of operations for the three and nine months ended September 30, 2013 include revenue of $1,587.4 million and $1,988.7 million, respectively, and net losses of $761.9 million and $757.2 million, respectively, attributable to Virgin Media. | ||||||||||||||||
Discontinued Operation | ||||||||||||||||
Austar. On May 23, 2012, we completed the sale of Austar, which is reflected as a discontinued operation in our condensed consolidated statement of operations and our condensed consolidated statement of cash flows for the nine months ended September 30, 2012. The operating results of Austar for the nine months ended September 30, 2012 are summarized in the following table: | ||||||||||||||||
Nine months ended | ||||||||||||||||
September 30, 2012 (a) | ||||||||||||||||
in millions | ||||||||||||||||
Revenue | $ | 293.7 | ||||||||||||||
Operating income | $ | 78.7 | ||||||||||||||
Earnings before income taxes and noncontrolling interests | $ | 49.6 | ||||||||||||||
Income tax expense | $ | (14.1 | ) | |||||||||||||
Earnings from discontinued operation attributable to Liberty Global shareholders, net of taxes | $ | 15.6 | ||||||||||||||
_______________ | ||||||||||||||||
(a) | Represents the operating results of Austar through May 23, 2012, the date the sale of Austar was completed. |
Investments
Investments | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Investments [Abstract] | ' | ||||||||
Investments | ' | ||||||||
Investments | |||||||||
The details of our investments are set forth below: | |||||||||
Accounting Method | September 30, | December 31, | |||||||
2013 | 2012 | ||||||||
in millions | |||||||||
Fair value: | |||||||||
Ziggo (a): | |||||||||
Not subject to re-use rights (33.9 million shares) | $ | 1,373.90 | $ | — | |||||
Subject to re-use rights (23.1 million shares) | 935.4 | — | |||||||
Total — Ziggo | 2,309.30 | — | |||||||
Sumitomo (b) | 614.5 | 579.7 | |||||||
Other (c) | 382.2 | 368.2 | |||||||
Total — fair value | 3,306.00 | 947.9 | |||||||
Equity | 0.6 | 1.7 | |||||||
Cost | 0.5 | 0.5 | |||||||
Total | $ | 3,307.10 | $ | 950.1 | |||||
_______________ | |||||||||
(a) | During the first nine months of 2013, we acquired an aggregate of 57,000,738 shares of Ziggo N.V. (Ziggo), a publicly-traded company in the Netherlands, at an average price of €26.40 ($35.73) per share, for a total investment of €1,505.0 million ($2,036.5 million). Ziggo is the largest cable operator in the Netherlands in terms of customers. As a result of these investments, we effectively owned 28.5% of the outstanding shares of Ziggo at September 30, 2013. At September 30, 2013, the market price of Ziggo shares was €29.94 ($40.51) per share. In April 2013, LGE HoldCo V BV (LGE HoldCo), our wholly-owned subsidiary, entered into a limited recourse margin loan agreement (the Ziggo Margin Loan) with respect to a portion of our investment in Ziggo, and in July 2013, we entered into a share collar (the Ziggo Collar) and secured borrowing arrangement (the Ziggo Collar Loan) with respect to a portion of our owned Ziggo shares. All but 4,743,738 of the Ziggo shares that we owned at September 30, 2013 were pledged as collateral under one or the other of these two arrangements. During the second and third quarters of 2013, we received aggregate cash dividends from Ziggo of $78.4 million after taking into account the impact of the Ziggo Collar. For additional information regarding the Ziggo Collar Loan and the Ziggo Collar, including a description of the related re-use rights and the impact on the dividends we receive on our Ziggo shares, see note 4. For additional information concerning the Ziggo Margin Loan, see note 7. | ||||||||
(b) | At September 30, 2013, we owned 45,652,043 shares of Sumitomo Corporation (Sumitomo) common stock. Our Sumitomo shares represented less than 5% of Sumitomo’s outstanding common stock at September 30, 2013. These shares secure a loan (the Sumitomo Collar Loan) to Liberty Programming Japan LLC, our wholly-owned subsidiary. | ||||||||
(c) | Includes various fair value investments, the most significant of which is our 17.0% interest in Canal+ Cyfrowy S.A., a privately-held DTH operator in Poland. |
Derivative_Instruments
Derivative Instruments | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||||||||||
Derivative Instruments | ' | |||||||||||||||||||||||
Derivative Instruments | ||||||||||||||||||||||||
Through our subsidiaries, we have entered into various derivative instruments to manage interest rate exposure and foreign currency exposure with respect to the U.S. dollar ($), the euro (€), the British pound sterling (£), the Swiss franc (CHF), the Chilean peso (CLP), the Czech koruna (CZK), the Hungarian forint (HUF), the Polish zloty (PLN) and the Romanian lei (RON). We generally do not apply hedge accounting to our derivative instruments. Accordingly, changes in the fair values of most of our derivative instruments are recorded in realized and unrealized gains or losses on derivative instruments, net, in our condensed consolidated statements of operations. | ||||||||||||||||||||||||
The following table provides details of the fair values of our derivative instrument assets and liabilities: | ||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||
Current (a) | Long-term (a) | Total | Current (a) | Long-term (a) | Total | |||||||||||||||||||
in millions | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Cross-currency and interest rate derivative contracts (b) | $ | 183.9 | $ | 510 | $ | 693.9 | $ | 191.3 | $ | 467.1 | $ | 658.4 | ||||||||||||
Equity-related derivative instruments (c) | — | 454.8 | 454.8 | — | 594.6 | 594.6 | ||||||||||||||||||
Foreign currency forward contracts | 0.9 | 0.4 | 1.3 | 0.7 | 0.4 | 1.1 | ||||||||||||||||||
Other | 1.6 | 3.2 | 4.8 | 1.3 | 3 | 4.3 | ||||||||||||||||||
Total | $ | 186.4 | $ | 968.4 | $ | 1,154.80 | $ | 193.3 | $ | 1,065.10 | $ | 1,258.40 | ||||||||||||
Liabilities: | ||||||||||||||||||||||||
Cross-currency and interest rate derivative contracts (b) | $ | 649.1 | $ | 1,958.20 | $ | 2,607.30 | $ | 543.2 | $ | 2,156.30 | $ | 2,699.50 | ||||||||||||
Equity-related derivative instruments (c) | 15.9 | 14.6 | 30.5 | 21.6 | — | 21.6 | ||||||||||||||||||
Foreign currency forward contracts | 8.2 | 5.4 | 13.6 | 4.5 | 3.6 | 8.1 | ||||||||||||||||||
Other | 1.8 | 1.3 | 3.1 | 0.6 | 0.7 | 1.3 | ||||||||||||||||||
Total | $ | 675 | $ | 1,979.50 | $ | 2,654.50 | $ | 569.9 | $ | 2,160.60 | $ | 2,730.50 | ||||||||||||
_______________ | ||||||||||||||||||||||||
(a) | Our current derivative assets are included in other current assets and our long-term derivative assets and liabilities are included in other assets, net, and other long-term liabilities, respectively, in our condensed consolidated balance sheets. | |||||||||||||||||||||||
(b) | We consider credit risk in our fair value assessments. As of September 30, 2013 and December 31, 2012, (i) the fair values of our cross-currency and interest rate derivative contracts that represented assets have been reduced by credit risk valuation adjustments aggregating $17.7 million and $17.2 million, respectively, and (ii) the fair values of our cross-currency and interest rate derivative contracts that represented liabilities have been reduced by credit risk valuation adjustments aggregating $201.8 million and $156.5 million, respectively. The adjustments to our derivative assets relate to the risk associated with counterparty nonperformance and the adjustments to our derivative liabilities relate to credit risk associated with our own nonperformance. In all cases, the adjustments take into account offsetting liability or asset positions within a given contract. Our determination of credit risk valuation adjustments generally is based on our and our counterparties’ credit risks, as observed in the credit default swap market and market quotations for certain of our subsidiaries’ debt instruments, as applicable. The changes in the credit risk valuation adjustments associated with our cross-currency and interest rate derivative contracts resulted in net gains of $85.1 million and $39.6 million during the three and nine months ended September 30, 2013, respectively, and net losses of $29.9 million and $78.2 million during the three and nine months ended September 30, 2012, respectively. These amounts are included in realized and unrealized losses on derivative instruments, net, in our condensed consolidated statements of operations. For further information concerning our fair value measurements, see note 5. | |||||||||||||||||||||||
(c) | The fair value of our equity-related derivative instruments relates to (i) the Virgin Media Capped Calls, as defined and described below, (ii) the Ziggo Collar, and (iii) the share collar (the Sumitomo Collar) with respect to the Sumitomo shares held by our company. The fair values of the Ziggo Collar and the Sumitomo Collar do not include credit risk valuation adjustments as we have assumed that any losses incurred by our company in the event of nonperformance by the respective counterparty would be, subject to relevant insolvency laws, fully offset against amounts we owe to such counterparty pursuant to the secured borrowing arrangements of the Ziggo Collar and Sumitomo Collar. | |||||||||||||||||||||||
The details of our realized and unrealized losses on derivative instruments, net, are as follows: | ||||||||||||||||||||||||
Three months ended | Nine months ended | |||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Continuing operations: | ||||||||||||||||||||||||
Cross-currency and interest rate derivative contracts | $ | (727.2 | ) | $ | (281.7 | ) | $ | (384.2 | ) | $ | (591.3 | ) | ||||||||||||
Equity-related derivative instruments: | ||||||||||||||||||||||||
Sumitomo Collar | (34.3 | ) | 47.9 | (174.3 | ) | (11.7 | ) | |||||||||||||||||
Ziggo Collar | (65.7 | ) | — | (65.7 | ) | — | ||||||||||||||||||
Other | 5.8 | — | (3.8 | ) | — | |||||||||||||||||||
Total equity-related derivative instruments | (94.2 | ) | 47.9 | (243.8 | ) | (11.7 | ) | |||||||||||||||||
Foreign currency forward contracts | (55.3 | ) | (2.8 | ) | (56.4 | ) | (12.5 | ) | ||||||||||||||||
Other | 0.4 | (0.6 | ) | (0.8 | ) | 1.6 | ||||||||||||||||||
Total — continuing operations | $ | (876.3 | ) | $ | (237.2 | ) | $ | (685.2 | ) | $ | (613.9 | ) | ||||||||||||
Discontinued operation | $ | — | $ | — | $ | — | $ | 4.6 | ||||||||||||||||
The net cash received or paid related to each of our derivative instruments is classified as an operating, investing or financing activity in our condensed consolidated statements of cash flows based on the objective of the derivative instrument and the classification of the applicable underlying cash flows. For cross-currency or interest rate derivative contracts that are terminated prior to maturity, the cash paid or received upon termination that relates to future periods is classified as a financing activity. The classification of these cash inflows (outflows) are as follows: | ||||||||||||||||||||||||
Nine months ended | ||||||||||||||||||||||||
September 30, | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Continuing operations: | ||||||||||||||||||||||||
Operating activities | $ | (393.4 | ) | $ | (452.8 | ) | ||||||||||||||||||
Investing activities | (66.6 | ) | 23.7 | |||||||||||||||||||||
Financing activities | 537 | (113.1 | ) | |||||||||||||||||||||
Total — continuing operations | $ | 77 | $ | (542.2 | ) | |||||||||||||||||||
Discontinued operation | $ | — | $ | (6.6 | ) | |||||||||||||||||||
Counterparty Credit Risk | ||||||||||||||||||||||||
We are exposed to the risk that the counterparties to our derivative instruments will default on their obligations to us. We manage these credit risks through the evaluation and monitoring of the creditworthiness of, and concentration of risk with, the respective counterparties. In this regard, credit risk associated with our derivative instruments is spread across a relatively broad counterparty base of banks and financial institutions. We and our counterparties do not post collateral or other security, nor have we entered into master netting arrangements with any of our counterparties. At September 30, 2013, our exposure to counterparty credit risk included derivative assets with an aggregate fair value of $566.9 million. | ||||||||||||||||||||||||
Under our derivative contracts, it is generally only the non-defaulting party that has a contractual option to exercise early termination rights upon the default of the other counterparty and to set off other liabilities against sums due upon such termination. However, in an insolvency of a derivative counterparty, under the laws of certain jurisdictions, the defaulting counterparty or its insolvency representatives may be able to compel the termination of one or more derivative contracts and trigger early termination payment liabilities payable by us, reflecting any mark-to-market value of the contracts for the counterparty. Alternatively, or in addition, the insolvency laws of certain jurisdictions may require the mandatory set-off of amounts due under such derivative contracts against present and future liabilities owed to us under other contracts between us and the relevant counterparty. Accordingly, it is possible that we may be subject to obligations to make payments, or may have present or future liabilities owed to us partially or fully discharged by set-off as a result of such obligations, in the event of the insolvency of a derivative counterparty, even though it is the counterparty that is in default and not us. To the extent that we are required to make such payments, our ability to do so will depend on our liquidity and capital resources at the time. In an insolvency of a defaulting counterparty, we will be an unsecured creditor in respect of any amount owed to us by the defaulting counterparty, except to the extent of the value of any collateral we have obtained from that counterparty. | ||||||||||||||||||||||||
The risks we would face in the event of a default by a counterparty to one of our derivative instruments might be eliminated or substantially mitigated if we were able to novate the relevant derivative contracts to a new counterparty following the default of our counterparty. While we anticipate that, in the event of the insolvency of one of our derivative counterparties, we would seek to effect such novations, no assurance can be given that we would obtain the necessary consents to do so or that we would be able to do so on terms or pricing that would be acceptable to us or that any such novation would not result in substantial costs to us. Furthermore, the underlying risks that are the subject of the relevant derivative contracts would no longer be effectively hedged due to the insolvency of our counterparty, unless and until we novate or replace the derivative contract. | ||||||||||||||||||||||||
While we currently have no specific concerns about the creditworthiness of any counterparty for which we have material credit risk exposures, we cannot rule out the possibility that one or more of our counterparties could fail or otherwise be unable to meet its obligations to us. Any such instance could have an adverse effect on our cash flows, results of operations, financial condition and/or liquidity. | ||||||||||||||||||||||||
Cross-currency and Interest Rate Derivative Contracts | ||||||||||||||||||||||||
Cross-currency Swaps: | ||||||||||||||||||||||||
The terms of our outstanding cross-currency swap contracts at September 30, 2013 are as follows: | ||||||||||||||||||||||||
Subsidiary / | Notional | Notional | Interest rate due from | Interest rate due to | ||||||||||||||||||||
Final maturity date (a) | amount | amount | counterparty | counterparty | ||||||||||||||||||||
due from | due to | |||||||||||||||||||||||
counterparty | counterparty | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Virgin Media Investment Holdings Limited (VMIH), a subsidiary of Virgin Media: | ||||||||||||||||||||||||
Feb-22 | $ | 1,400.00 | £ | 873.6 | 5.01% | 5.35% | ||||||||||||||||||
Jun-20 | $ | 1,384.60 | £ | 901.4 | 6 mo. LIBOR + 2.75% | 6 mo. GBP LIBOR + 3.18% | ||||||||||||||||||
Oct-20 | $ | 1,370.40 | £ | 881.6 | 6 mo. LIBOR + 2.75% | 6 mo. GBP LIBOR + 3.10% | ||||||||||||||||||
Jan-18 | $ | 1,000.00 | £ | 615.7 | 6.50% | 7.02% | ||||||||||||||||||
Oct-19 | $ | 500 | £ | 302.3 | 8.38% | 9.02% | ||||||||||||||||||
Apr-19 | $ | 291.5 | £ | 186.2 | 5.38% | 5.49% | ||||||||||||||||||
November 2016 (b) | $ | 55 | £ | 27.7 | 6.50% | 7.03% | ||||||||||||||||||
UPC Holding: | ||||||||||||||||||||||||
April 2016 (b) | $ | 400 | CHF | 441.8 | 9.88% | 9.87% | ||||||||||||||||||
UPC Broadband Holding BV (UPC Broadband Holding), a subsidiary of UPC Holding: | ||||||||||||||||||||||||
Nov-19 | $ | 500 | € | 362.9 | 7.25% | 7.74% | ||||||||||||||||||
January 2015 - July 2021 | $ | 312 | € | 240 | 6 mo. LIBOR + 2.50% | 6 mo. EURIBOR + 2.87% | ||||||||||||||||||
Oct-20 | $ | 300 | € | 219.1 | 6 mo. LIBOR + 3.00% | 6 mo. EURIBOR + 3.04% | ||||||||||||||||||
January 2017 - July 2021 | $ | 262.1 | € | 194.1 | 6 mo. LIBOR + 2.50% | 6 mo. EURIBOR + 2.51% | ||||||||||||||||||
Oct-17 | $ | 200 | € | 145.7 | 6 mo. LIBOR + 3.50% | 6 mo. EURIBOR + 3.33% | ||||||||||||||||||
Jan-20 | $ | 197.5 | € | 150.5 | 6 mo. LIBOR + 4.92% | 6 mo. EURIBOR + 4.91% | ||||||||||||||||||
September 2014 - July 2021 | $ | 128 | € | 97.2 | 6 mo. LIBOR + 2.50% | 6 mo. EURIBOR + 2.90% | ||||||||||||||||||
Dec-16 | $ | 340 | CHF | 370.9 | 6 mo. LIBOR + 3.50% | 6 mo. CHF LIBOR + 4.01% | ||||||||||||||||||
January 2017 - July 2021 | $ | 300 | CHF | 278.3 | 6 mo. LIBOR + 2.50% | 6 mo. CHF LIBOR + 2.46% | ||||||||||||||||||
January 2015 - July 2021 | $ | 200 | CHF | 186 | 6 mo. LIBOR + 2.50% | 6 mo. CHF LIBOR + 2.55% | ||||||||||||||||||
Dec-14 | $ | 171.5 | CHF | 187.1 | 6 mo. LIBOR + 2.75% | 6 mo. CHF LIBOR + 2.95% | ||||||||||||||||||
Dec-14 | € | 898.4 | CHF | 1,466.00 | 6 mo. EURIBOR + 1.68% | 6 mo. CHF LIBOR + 1.94% | ||||||||||||||||||
January 2015 - September 2022 | € | 383.8 | CHF | 477 | 6 mo. EURIBOR + 2.00% | 6 mo. CHF LIBOR + 2.22% | ||||||||||||||||||
December 2014 - December 2016 | € | 360.4 | CHF | 589 | 6 mo. EURIBOR + 3.75% | 6 mo. CHF LIBOR + 3.94% | ||||||||||||||||||
Jan-20 | € | 175 | CHF | 258.6 | 7.63% | 6.76% | ||||||||||||||||||
Jul-20 | € | 107.4 | CHF | 129 | 6 mo. EURIBOR + 3.00% | 6 mo. CHF LIBOR + 3.28% | ||||||||||||||||||
Jan-17 | € | 75 | CHF | 110.9 | 7.63% | 6.98% | ||||||||||||||||||
Jul-15 | € | 123.8 | CLP | 86,500.00 | 2.50% | 5.84% | ||||||||||||||||||
Subsidiary / | Notional | Notional | Interest rate due from | Interest rate due to | ||||||||||||||||||||
Final maturity date (a) | amount | amount | counterparty | counterparty | ||||||||||||||||||||
due from | due to | |||||||||||||||||||||||
counterparty | counterparty | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Dec-15 | € | 69.1 | CLP | 53,000.00 | 3.50% | 5.75% | ||||||||||||||||||
Dec-14 | € | 305.8 | CZK | 8,818.70 | 5.48% | 5.47% | ||||||||||||||||||
Jan-15 | € | 60 | CZK | 1,703.10 | 5.50% | 6.05% | ||||||||||||||||||
January 2015 - January 2017 | € | 60 | CZK | 1,703.10 | 5.50% | 6.99% | ||||||||||||||||||
Jul-17 | € | 39.6 | CZK | 1,000.00 | 3.00% | 3.75% | ||||||||||||||||||
Jan-15 | € | 260 | HUF | 75,570.00 | 5.50% | 9.40% | ||||||||||||||||||
January 2015 - January 2017 | € | 260 | HUF | 75,570.00 | 5.50% | 10.56% | ||||||||||||||||||
Dec-16 | € | 150 | HUF | 43,367.50 | 5.50% | 9.20% | ||||||||||||||||||
Jul-18 | € | 78 | HUF | 19,500.00 | 5.50% | 9.15% | ||||||||||||||||||
Jan-15 | € | 245 | PLN | 1,000.60 | 5.50% | 7.60% | ||||||||||||||||||
January 2015 - January 2017 | € | 245 | PLN | 1,000.60 | 5.50% | 9.03% | ||||||||||||||||||
Sep-16 | € | 200 | PLN | 892.7 | 6.00% | 8.19% | ||||||||||||||||||
Dec-14 | € | 155.5 | PLN | 605 | 5.50% | 7.33% | ||||||||||||||||||
Jul-17 | € | 82 | PLN | 318 | 3.00% | 5.60% | ||||||||||||||||||
Unitymedia Hessen GmbH & Co. KG (Unitymedia Hessen), a subsidiary of Unitymedia KabelBW: | ||||||||||||||||||||||||
Jan-21 | $ | 1,000.00 | € | 688.2 | 5.50% | 5.58% | ||||||||||||||||||
Mar-19 | $ | 459.3 | € | 326.5 | 7.50% | 7.98% | ||||||||||||||||||
_______________ | ||||||||||||||||||||||||
(a) | For each subsidiary, the notional amount of multiple derivative instruments that mature within the same calendar month are shown in the aggregate and interest rates are presented on a weighted average basis. For derivative instruments that were in effect as of September 30, 2013, we present a single date that represents the applicable final maturity date. For derivative instruments that become effective subsequent to September 30, 2013, we present a range of dates that represents the period covered by the applicable derivative instruments. | |||||||||||||||||||||||
(b) | Unlike the other cross-currency swaps presented in this table, the identified cross-currency swaps do not involve the exchange of notional amounts at the inception and maturity of the instruments. Accordingly, the only cash flows associated with these instruments are interest payments and receipts. | |||||||||||||||||||||||
Cross-currency Interest Rate Swaps: | ||||||||||||||||||||||||
The terms of our outstanding cross-currency interest rate swap contracts at September 30, 2013 are as follows: | ||||||||||||||||||||||||
Subsidiary / Final maturity date (a) | Notional amount | Notional amount | Interest rate due from | Interest rate due to | ||||||||||||||||||||
due from | due to | counterparty | counterparty | |||||||||||||||||||||
counterparty | counterparty | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
VMIH: | ||||||||||||||||||||||||
Jan-21 | $ | 500 | £ | 308.9 | 5.25% | 6 mo. GBP LIBOR + 1.94% | ||||||||||||||||||
UPC Broadband Holding: | ||||||||||||||||||||||||
Jul-18 | $ | 525 | € | 396.3 | 6 mo. LIBOR + 1.99% | 6.25% | ||||||||||||||||||
September 2014 - January 2020 | $ | 327.5 | € | 249.5 | 6 mo. LIBOR + 4.92% | 7.52% | ||||||||||||||||||
Dec-14 | $ | 300 | € | 226.5 | 6 mo. LIBOR + 1.75% | 5.78% | ||||||||||||||||||
December 2014 - July 2018 | $ | 300 | € | 226.5 | 6 mo. LIBOR + 2.58% | 6.80% | ||||||||||||||||||
Dec-16 | $ | 296.6 | € | 219.8 | 6 mo. LIBOR + 3.50% | 6.75% | ||||||||||||||||||
Nov-19 | $ | 250 | CHF | 226.8 | 7.25% | 6 mo. CHF LIBOR + 5.01% | ||||||||||||||||||
Jan-20 | $ | 225 | CHF | 206.3 | 6 mo. LIBOR + 4.81% | 5.44% | ||||||||||||||||||
Dec-14 | $ | 340 | CLP | 181,322.00 | 6 mo. LIBOR + 1.75% | 8.76% | ||||||||||||||||||
Dec-16 | $ | 201.5 | RON | 489.3 | 6 mo. LIBOR + 3.50% | 14.01% | ||||||||||||||||||
Dec-14 | € | 134.2 | CLP | 107,800.00 | 6 mo. EURIBOR + 2.00% | 10.00% | ||||||||||||||||||
VTR: | ||||||||||||||||||||||||
Sep-14 | $ | 441.8 | CLP | 244,508.60 | 6 mo. LIBOR + 3.00% | 11.16% | ||||||||||||||||||
_______________ | ||||||||||||||||||||||||
(a) | For each subsidiary, the notional amount of multiple derivative instruments that mature within the same calendar month are shown in the aggregate and interest rates are presented on a weighted average basis. For derivative instruments that were in effect as of September 30, 2013, we present a single date that represents the applicable final maturity date. For derivative instruments that become effective subsequent to September 30, 2013, we present a range of dates that represents the period covered by the applicable derivative instruments. | |||||||||||||||||||||||
Interest Rate Swaps: | ||||||||||||||||||||||||
The terms of our outstanding interest rate swap contracts at September 30, 2013 are as follows: | ||||||||||||||||||||||||
Subsidiary / Final maturity date (a) | Notional amount | Interest rate due from | Interest rate due to | |||||||||||||||||||||
counterparty | counterparty | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
VMIH: | ||||||||||||||||||||||||
Oct-18 | £ | 2,155.00 | 6 mo. GBP LIBOR | 1.52% | ||||||||||||||||||||
Jan-21 | £ | 650 | 5.50% | 6 mo. GBP LIBOR + 1.84% | ||||||||||||||||||||
Jan-21 | £ | 650 | 6 mo. GBP LIBOR + 1.84% | 3.87% | ||||||||||||||||||||
Dec-15 | £ | 600 | 6 mo. GBP LIBOR | 2.86% | ||||||||||||||||||||
Apr-18 | £ | 300 | 6 mo. GBP LIBOR | 1.37% | ||||||||||||||||||||
UPC Broadband Holding: | ||||||||||||||||||||||||
Jul-20 | $ | 1,000.00 | 6.63% | 6 mo. LIBOR + 3.03% | ||||||||||||||||||||
Jan-22 | $ | 750 | 6.88% | 6 mo. LIBOR + 4.89% | ||||||||||||||||||||
Jan-14 | € | 2,750.00 | 1 mo. EURIBOR + 3.76% | 6 mo. EURIBOR + 3.52% | ||||||||||||||||||||
Dec-14 | € | 1,471.50 | 6 mo. EURIBOR | 3.55% | ||||||||||||||||||||
Jul-20 | € | 750 | 6.38% | 6 mo. EURIBOR + 3.16% | ||||||||||||||||||||
January 2015 - January 2021 | € | 750 | 6 mo. EURIBOR | 2.57% | ||||||||||||||||||||
January 2015 - December 2016 | € | 500 | 6 mo. EURIBOR | 4.32% | ||||||||||||||||||||
Jul-14 | € | 337 | 6 mo. EURIBOR | 3.94% | ||||||||||||||||||||
January 2015 - January 2023 | € | 290 | 6 mo. EURIBOR | 2.79% | ||||||||||||||||||||
Dec-15 | € | 263.3 | 6 mo. EURIBOR | 3.97% | ||||||||||||||||||||
Jan-23 | € | 210 | 6 mo. EURIBOR | 2.88% | ||||||||||||||||||||
Jan-14 | € | 185 | 6 mo. EURIBOR | 4.04% | ||||||||||||||||||||
January 2015 - January 2018 | € | 175 | 6 mo. EURIBOR | 3.74% | ||||||||||||||||||||
Jul-20 | € | 171.3 | 6 mo. EURIBOR | 4.32% | ||||||||||||||||||||
January 2015 - July 2020 | € | 171.3 | 6 mo. EURIBOR | 3.95% | ||||||||||||||||||||
January 2015 - November 2021 | € | 107 | 6 mo. EURIBOR | 2.89% | ||||||||||||||||||||
Dec-13 | € | 90.5 | 6 mo. EURIBOR | 0.90% | ||||||||||||||||||||
Dec-14 | CHF | 2,380.00 | 6 mo. CHF LIBOR | 2.81% | ||||||||||||||||||||
January 2015 - January 2022 | CHF | 711.5 | 6 mo. CHF LIBOR | 1.89% | ||||||||||||||||||||
January 2015 - January 2021 | CHF | 500 | 6 mo. CHF LIBOR | 1.65% | ||||||||||||||||||||
January 2015 - January 2018 | CHF | 400 | 6 mo. CHF LIBOR | 2.51% | ||||||||||||||||||||
January 2015 - December 2016 | CHF | 370.9 | 6 mo. CHF LIBOR | 3.82% | ||||||||||||||||||||
January 2015 - November 2019 | CHF | 226.8 | 6 mo. CHF LIBOR + 5.01% | 6.88% | ||||||||||||||||||||
Telenet International Finance S.a.r.l (Telenet International): | ||||||||||||||||||||||||
July 2017 - July 2019 | € | 600 | 3 mo. EURIBOR | 3.29% | ||||||||||||||||||||
Aug-15 | € | 350 | 3 mo. EURIBOR | 3.54% | ||||||||||||||||||||
August 2015 - December 2018 | € | 305 | 3 mo. EURIBOR | 2.46% | ||||||||||||||||||||
Subsidiary / Final maturity date (a) | Notional amount | Interest rate due from | Interest rate due to | |||||||||||||||||||||
counterparty | counterparty | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
December 2015 - June 2021 | € | 250 | 3 mo. EURIBOR | 3.49% | ||||||||||||||||||||
Jul-19 | € | 200 | 3 mo. EURIBOR | 3.55% | ||||||||||||||||||||
Jul-17 | € | 150 | 3 mo. EURIBOR | 3.55% | ||||||||||||||||||||
July 2017 - December 2018 | € | 70 | 3 mo. EURIBOR | 3.00% | ||||||||||||||||||||
Jun-21 | € | 55 | 3 mo. EURIBOR | 2.29% | ||||||||||||||||||||
Jun-15 | € | 50 | 3 mo. EURIBOR | 3.55% | ||||||||||||||||||||
Dec-17 | € | 50 | 3 mo. EURIBOR | 3.52% | ||||||||||||||||||||
December 2015 - July 2019 | € | 50 | 3 mo. EURIBOR | 3.40% | ||||||||||||||||||||
December 2017 - July 2019 | € | 50 | 3 mo. EURIBOR | 2.99% | ||||||||||||||||||||
July 2017 - June 2021 | € | 50 | 3 mo. EURIBOR | 3.00% | ||||||||||||||||||||
August 2015 - June 2021 | € | 45 | 3 mo. EURIBOR | 3.20% | ||||||||||||||||||||
_______________ | ||||||||||||||||||||||||
(a) | For each subsidiary, the notional amount of multiple derivative instruments that mature within the same calendar month are shown in the aggregate and interest rates are presented on a weighted average basis. For derivative instruments that were in effect as of September 30, 2013, we present a single date that represents the applicable final maturity date. For derivative instruments that become effective subsequent to September 30, 2013, we present a range of dates that represents the period covered by the applicable derivative instruments. | |||||||||||||||||||||||
Interest Rate Caps | ||||||||||||||||||||||||
Our purchased and sold interest rate cap contracts with respect to EURIBOR are detailed below: | ||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||
Subsidiary / Final maturity date (a) | Notional amount | EURIBOR cap rate | ||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Interest rate caps purchased (b): | ||||||||||||||||||||||||
Liberty Global Europe Financing BV (LGE Financing), the immediate parent of UPC Holding: | ||||||||||||||||||||||||
January 2015 - January 2020 | € | 735 | 7.00% | |||||||||||||||||||||
Telenet International: | ||||||||||||||||||||||||
June 2015 - June 2017 | € | 50 | 4.50% | |||||||||||||||||||||
Telenet NV, a subsidiary of Telenet: | ||||||||||||||||||||||||
Dec-17 | € | 1.7 | 6.50% | |||||||||||||||||||||
Dec-17 | € | 1.7 | 5.50% | |||||||||||||||||||||
Interest rate cap sold (c): | ||||||||||||||||||||||||
UPC Broadband Holding: | ||||||||||||||||||||||||
January 2015 - January 2020 | € | 735 | 7.00% | |||||||||||||||||||||
_______________ | ||||||||||||||||||||||||
(a) | For each subsidiary, the notional amount of multiple derivative instruments that mature within the same calendar month are shown in the aggregate. For derivative instruments that were in effect as of September 30, 2013, we present a single date that represents the applicable final maturity date. For derivative instruments that become effective subsequent to September 30, 2013, we present a range of dates that represents the period covered by the applicable derivative instruments. | |||||||||||||||||||||||
(b) | Our purchased interest rate caps entitle us to receive payments from the counterparty when EURIBOR exceeds the EURIBOR cap rate. | |||||||||||||||||||||||
(c) | Our sold interest rate cap requires that we make payments to the counterparty when EURIBOR exceeds the EURIBOR cap rate. | |||||||||||||||||||||||
Interest Rate Collars | ||||||||||||||||||||||||
Our interest rate collar contracts establish floor and cap rates with respect to EURIBOR on the indicated notional amounts, as detailed below: | ||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||
Subsidiary / Final maturity date (a) | Notional | EURIBOR floor rate (b) | EURIBOR cap rate (c) | |||||||||||||||||||||
amount | ||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
UPC Broadband Holding: | ||||||||||||||||||||||||
January 2015 - January 2020 | € | 1,135.00 | 1.00% | 3.54% | ||||||||||||||||||||
Telenet International: | ||||||||||||||||||||||||
Jul-17 | € | 950 | 2.00% | 4.00% | ||||||||||||||||||||
_______________ | ||||||||||||||||||||||||
(a) | For each subsidiary, the notional amount of multiple derivative instruments that mature within the same calendar month are shown in the aggregate. For derivative instruments that were in effect as of September 30, 2013, we present a single date that represents the applicable final maturity date. For derivative instruments that become effective subsequent to September 30, 2013, we present a range of dates that represents the period covered by the applicable derivative instruments. | |||||||||||||||||||||||
(b) | We make payments to the counterparty when EURIBOR is less than the EURIBOR floor rate. | |||||||||||||||||||||||
(c) | We receive payments from the counterparty when EURIBOR is greater than the EURIBOR cap rate. | |||||||||||||||||||||||
UPC Holding Cross-Currency Options | ||||||||||||||||||||||||
Pursuant to its cross-currency option contracts, UPC Holding has the option to deliver U.S. dollars to the counterparty in exchange for Swiss francs at a fixed exchange rate of 0.7354 Swiss francs per one U.S. dollar, in the notional amounts listed below: | ||||||||||||||||||||||||
Notional amount at | ||||||||||||||||||||||||
Contract expiration date | September 30, 2013 | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Apr-18 | $ | 419.8 | ||||||||||||||||||||||
Oct-16 | $ | 19.8 | ||||||||||||||||||||||
Apr-17 | $ | 19.8 | ||||||||||||||||||||||
Oct-17 | $ | 19.8 | ||||||||||||||||||||||
Equity-Related Derivative Instruments | ||||||||||||||||||||||||
Virgin Media Capped Calls. During 2010, Virgin Media entered into conversion hedges (the Virgin Media Capped Calls) with respect to the VM Convertible Notes, as defined and described in note 7, in order to offset a portion of the dilutive effects associated with conversion of the VM Convertible Notes. We account for the Virgin Media Capped Calls at fair value using a binomial pricing model and changes in fair value are reported in realized and unrealized gains (losses) on derivative instruments, net, in our condensed consolidated statements of operations. | ||||||||||||||||||||||||
As further described in note 7, most of the VM Convertible Notes were exchanged for Class A and Class C ordinary shares and cash pursuant to the terms of the VM Convertible Notes Indenture (as defined in note 7). Accordingly, during the third quarter of 2013, we settled 93.8% of the notional amount of the Virgin Media Capped Calls for cash proceeds of $534.8 million. | ||||||||||||||||||||||||
Ziggo Collar and Secured Borrowing. In July 2013, our wholly-owned subsidiary, Liberty Global Incorporated Limited (Liberty Global Limited), paid a net option premium of €38.6 million ($51.0 million at the transaction date) to enter into a collar transaction with respect to 24,957,000 Ziggo shares. The Ziggo Collar is comprised of (i) purchased put options exercisable by Liberty Global Limited and (ii) sold call options exercisable by the counterparty. The Ziggo Collar effectively hedges the value of a portion of our investment in Ziggo shares from significant losses due to market price decreases below the put option price while retaining a portion of the gains from market price increases up to the call option price. For additional information regarding our investment in Ziggo, see note 3. | ||||||||||||||||||||||||
The Ziggo Collar and related agreements also provided Liberty Global Limited with the ability to effectively finance the purchase of certain of its Ziggo shares pursuant to the Ziggo Collar Loan. In this regard, in July 2013, we borrowed €617.1 million ($816.4 million at the transaction date) under the Ziggo Collar Loan, including €486.4 million ($643.5 million at the transaction date) of non-cash borrowings that were used to finance the acquisition of Ziggo shares. Borrowings under the Ziggo Collar Loan are secured by 24,957,000 shares of Ziggo that have been placed into a custody account. The Ziggo Collar Loan was issued at a discount with a zero coupon rate and an average implied yield of 45 basis points. The Ziggo Collar Loan, which has an average maturity of three years and contains no financial covenants, provides for customary representations and warranties, events of default and certain adjustment and termination events. The counterparty to the Ziggo Collar has the right to re-use most of the Ziggo shares held in the custody account (up to an estimated 23.1 million shares at September 30, 2013), but we have the right to recall the shares that are re-used by the counterparty. In addition, the counterparty retains dividends on the Ziggo shares that the counterparty would need to borrow from the custody account to hedge its exposure under the Ziggo Collar (an estimated 18.3 million shares at September 30, 2013). | ||||||||||||||||||||||||
We account for our equity-related derivative instruments at fair value with changes in fair value reported in realized and unrealized gains (losses) on derivative instruments, net, in our condensed consolidated statements of operations. | ||||||||||||||||||||||||
Foreign Currency Forwards | ||||||||||||||||||||||||
The following table summarizes our outstanding foreign currency forward contracts at September 30, 2013: | ||||||||||||||||||||||||
Subsidiary | Currency | Currency | Maturity dates | |||||||||||||||||||||
purchased | sold | |||||||||||||||||||||||
forward | forward | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
LGE Financing | $ | 639 | € | 473.8 | October 2013 - October 2014 | |||||||||||||||||||
LGE Financing | € | 279.2 | £ | 235 | Oct-13 | |||||||||||||||||||
UPC Holding | $ | 479 | CHF | 415.1 | October 2016 - April 2018 | |||||||||||||||||||
UPC Broadband Holding | $ | 3.3 | CZK | 64.1 | October 2013 - October 2014 | |||||||||||||||||||
UPC Broadband Holding | € | 58.4 | CHF | 71.9 | October 2013 - October 2014 | |||||||||||||||||||
UPC Broadband Holding | € | 19.5 | CZK | 504.8 | October 2013 - October 2014 | |||||||||||||||||||
UPC Broadband Holding | € | 18.2 | HUF | 5,525.00 | October 2013 - October 2014 | |||||||||||||||||||
UPC Broadband Holding | € | 52 | PLN | 229.2 | October 2013 - October 2014 | |||||||||||||||||||
UPC Broadband Holding | £ | 3 | € | 3.5 | October 2013 - July 2014 | |||||||||||||||||||
UPC Broadband Holding | CHF | 16.5 | € | 13.5 | Oct-13 | |||||||||||||||||||
UPC Broadband Holding | CZK | 300 | € | 11.7 | Oct-13 | |||||||||||||||||||
UPC Broadband Holding | HUF | 4,500.00 | € | 15 | Oct-13 | |||||||||||||||||||
UPC Broadband Holding | PLN | 75 | € | 17.8 | Oct-13 | |||||||||||||||||||
UPC Broadband Holding | RON | 35 | € | 7.8 | Oct-13 | |||||||||||||||||||
Telenet NV | $ | 40.5 | € | 30.7 | October 2013 - September 2014 | |||||||||||||||||||
VTR | $ | 28 | CLP | 14,197.50 | October 2013 - September 2014 | |||||||||||||||||||
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value Measurements | ' | |||||||||||||||
Fair Value Measurements | ||||||||||||||||
We use the fair value method to account for (i) certain of our investments and (ii) our derivative instruments. The reported fair values of these investments and derivative instruments as of September 30, 2013 likely will not represent the value that will be realized upon the ultimate settlement or disposition of these assets and liabilities. In the case of the investments that we account for using the fair value method, the values we realize upon disposition will be dependent upon, among other factors, market conditions and the historical and forecasted financial performance of the investees at the time of any such disposition. With respect to our derivative instruments, we expect that the values realized generally will be based on market conditions at the time of settlement, which may occur at the maturity of the derivative instrument or at the time of the repayment or refinancing of the underlying debt instrument. | ||||||||||||||||
GAAP provides for a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. Level 1 inputs are quoted market prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted market prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. We record transfers of assets or liabilities in or out of Levels 1, 2 or 3 at the beginning of the quarter during which the transfer occurred. During the nine months ended September 30, 2013, no such transfers were made. | ||||||||||||||||
All of our Level 2 inputs (interest rate futures, swap rates and certain of the inputs for our weighted average cost of capital calculations) and certain of our Level 3 inputs (forecasted volatilities and credit spreads) are obtained from pricing services. These inputs, or interpolations or extrapolations thereof, are used in our internal models to calculate, among other items, yield curves, forward interest and currency rates and weighted average cost of capital rates. In the normal course of business, we receive market value assessments from the counterparties to our derivative contracts. Although we compare these assessments to our internal valuations and investigate unexpected differences, we do not otherwise rely on counterparty quotes to determine the fair values of our derivative instruments. The midpoints of applicable bid and ask ranges generally are used as inputs for our internal valuations. | ||||||||||||||||
For our investments in Ziggo and Sumitomo, the recurring fair value measurements are based on the quoted closing price of the respective shares at each reporting date. Accordingly, the valuations of these investments fall under Level 1 of the fair value hierarchy. Our other investments that we account for at fair value are privately-held companies, and therefore, quoted market prices are unavailable. The valuation technique we use for such investments is a combination of an income approach (discounted cash flow model based on forecasts) and a market approach (market multiples of similar businesses). With the exception of certain inputs for our weighted average cost of capital calculations that are derived from pricing services, the inputs used to value these investments are based on unobservable inputs derived from our assumptions. Therefore, the valuation of our privately-held investments falls under Level 3 of the fair value hierarchy. Any reasonably foreseeable changes in assumed levels of unobservable inputs would not be expected to have a material impact on our financial position or results of operations. | ||||||||||||||||
The recurring fair value measurement of our equity-related derivatives are based on binomial option pricing models, which require the input of observable and unobservable variables such as exchange traded equity prices, risk-free interest rates, dividend yields and forecasted volatilities of the underlying equity securities. The valuations of our equity-related derivatives are based on a combination of Level 1 inputs (exchange traded equity prices), Level 2 inputs (interest rate futures and swap rates) and Level 3 inputs (forecasted volatilities). As changes in volatilities could have a significant impact on the overall valuations, we have determined that these valuations fall under Level 3 of the fair value hierarchy. For the September 30, 2013 valuations of our equity-related derivatives, we used estimated volatilities ranging from 23% to 37%. Based on the September 30, 2013 market prices for Sumitomo common stock and Liberty Global ordinary shares, changes in forecasted volatilities currently would not have significant impacts on the respective valuations of the Sumitomo Collar and the Virgin Media Capped Calls. | ||||||||||||||||
As further described in note 4, we have entered into various derivative instruments to manage our interest rate and foreign currency exchange risk. The recurring fair value measurements of these derivative instruments are determined using discounted cash flow models. Most of the inputs to these discounted cash flow models consist of, or are derived from, observable Level 2 data for substantially the full term of these derivative instruments. This observable data includes applicable interest rate futures and swap rates, which are retrieved or derived from available market data. Although we may extrapolate or interpolate this data, we do not otherwise alter this data in performing our valuations. We incorporate a credit risk valuation adjustment in our fair value measurements to estimate the impact of both our own nonperformance risk and the nonperformance risk of our counterparties. Our and our counterparties’ credit spreads are Level 3 inputs that are used to derive the credit risk valuation adjustments with respect to our various interest rate and foreign currency derivative valuations. As we would not expect changes in our or our counterparties’ credit spreads to have a significant impact on the valuations of these derivative instruments, we have determined that these valuations fall under Level 2 of the fair value hierarchy. Our credit risk valuation adjustments with respect to our cross-currency and interest rate swaps are quantified and further explained in note 4. | ||||||||||||||||
Fair value measurements are also used in connection with nonrecurring valuations performed in connection with impairment assessments and acquisition accounting. These nonrecurring valuations include the valuation of reporting units, customer relationship intangible assets, property and equipment and the implied value of goodwill. The valuation of private reporting units is based at least in part on discounted cash flow analyses. With the exception of certain inputs for our weighted average cost of capital and discount rate calculations that are derived from pricing services, the inputs used in our discounted cash flow analyses, such as forecasts of future cash flows, are based on our assumptions. The valuation of customer relationships is primarily based on an excess earnings methodology, which is a form of a discounted cash flow analysis. The excess earnings methodology requires us to estimate the specific cash flows expected from the customer relationship, considering such factors as estimated customer life, the revenue expected to be generated over the life of the customer, contributory asset charges, and other factors. Tangible assets are typically valued using a replacement or reproduction cost approach, considering factors such as current prices of the same or similar equipment, the age of the equipment and economic obsolescence. The implied value of goodwill is determined by allocating the fair value of a reporting unit to all of the assets and liabilities of that unit as if the reporting unit had been acquired in a business combination, with the residual amount allocated to goodwill. All of our nonrecurring valuations use significant unobservable inputs and therefore fall under Level 3 of the fair value hierarchy. During the nine months ended September 30, 2013, we performed nonrecurring valuations for the purpose of determining the acquisition accounting for the Virgin Media Acquisition. We used a discount rate of 9.0% for our preliminary valuation of the customer relationships acquired as a result of this acquisition. For additional information, see note 2. | ||||||||||||||||
A summary of our assets and liabilities that are measured at fair value on a recurring basis is as follows: | ||||||||||||||||
Fair value measurements at September 30, 2013 using: | ||||||||||||||||
Description | September 30, | Quoted prices | Significant | Significant | ||||||||||||
2013 | in active | other | unobservable | |||||||||||||
markets for | observable | inputs | ||||||||||||||
identical assets | inputs | (Level 3) | ||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||
in millions | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative instruments: | ||||||||||||||||
Cross-currency and interest rate derivative contracts | $ | 693.9 | $ | — | $ | 693.9 | $ | — | ||||||||
Equity-related derivative instruments | 454.8 | — | — | 454.8 | ||||||||||||
Foreign currency forward contracts | 1.3 | — | 1.3 | — | ||||||||||||
Other | 4.8 | — | 4.8 | — | ||||||||||||
Total derivative instruments | 1,154.80 | — | 700 | 454.8 | ||||||||||||
Investments | 3,306.00 | 2,923.70 | — | 382.3 | ||||||||||||
Total assets | $ | 4,460.80 | $ | 2,923.70 | $ | 700 | $ | 837.1 | ||||||||
Liabilities - derivative instruments: | ||||||||||||||||
Cross-currency and interest rate derivative contracts | $ | 2,607.30 | $ | — | $ | 2,607.30 | $ | — | ||||||||
Equity-related derivative instruments | 30.5 | — | — | 30.5 | ||||||||||||
Foreign currency forward contracts | 13.6 | — | 13.6 | — | ||||||||||||
Other | 3.1 | — | 3.1 | — | ||||||||||||
Total liabilities | $ | 2,654.50 | $ | — | $ | 2,624.00 | $ | 30.5 | ||||||||
Fair value measurements | ||||||||||||||||
at December 31, 2012 using: | ||||||||||||||||
Description | December 31, 2012 | Quoted prices | Significant | Significant | ||||||||||||
in active | other | unobservable | ||||||||||||||
markets for | observable | inputs | ||||||||||||||
identical assets | inputs | (Level 3) | ||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||
in millions | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative instruments: | ||||||||||||||||
Cross-currency and interest rate derivative contracts | $ | 658.4 | $ | — | $ | 658.4 | $ | — | ||||||||
Equity-related derivative instrument | 594.6 | — | — | 594.6 | ||||||||||||
Foreign currency forward contracts | 1.1 | — | 1.1 | — | ||||||||||||
Other | 4.3 | — | 4.3 | — | ||||||||||||
Total derivative instruments | 1,258.40 | — | 663.8 | 594.6 | ||||||||||||
Investments | 947.9 | 579.7 | — | 368.2 | ||||||||||||
Total assets | $ | 2,206.30 | $ | 579.7 | $ | 663.8 | $ | 962.8 | ||||||||
Liabilities - derivative instruments: | ||||||||||||||||
Cross-currency and interest rate derivative contracts | $ | 2,699.50 | $ | — | $ | 2,699.50 | $ | — | ||||||||
Equity-related derivative instrument | 21.6 | — | — | 21.6 | ||||||||||||
Foreign currency forward contracts | 8.1 | — | 8.1 | — | ||||||||||||
Other | 1.3 | — | 1.3 | — | ||||||||||||
Total liabilities | $ | 2,730.50 | $ | — | $ | 2,708.90 | $ | 21.6 | ||||||||
A reconciliation of the beginning and ending balances of our assets and liabilities measured at fair value on a recurring basis using significant unobservable, or Level 3, inputs is as follows: | ||||||||||||||||
Investments | Equity-related | Total | ||||||||||||||
derivative | ||||||||||||||||
instruments | ||||||||||||||||
in millions | ||||||||||||||||
Balance of net assets at January 1, 2013 | $ | 368.2 | $ | 573 | $ | 941.2 | ||||||||||
Additions (a) | — | 617.8 | 617.8 | |||||||||||||
Cash settlements of Virgin Media Capped Calls | — | (534.8 | ) | (534.8 | ) | |||||||||||
Gains (losses) included in net loss (b): | ||||||||||||||||
Realized and unrealized losses on derivative instruments, net | — | (243.8 | ) | (243.8 | ) | |||||||||||
Realized and unrealized gains due to changes in fair values of certain investments, net | 15.1 | — | 15.1 | |||||||||||||
Foreign currency translation adjustments and other, net | (1.0 | ) | 12.1 | 11.1 | ||||||||||||
Balance of net assets at September 30, 2013 | $ | 382.3 | $ | 424.3 | $ | 806.6 | ||||||||||
_______________ | ||||||||||||||||
(a) | Amount includes (i) $566.8 million representing the estimated fair value of the Virgin Media Capped Calls on June 7, 2013 and (ii) $51.0 million representing premiums paid associated with the Ziggo Collar. | |||||||||||||||
(b) | Substantially all of the net gains (losses) recognized during the first nine months of 2013 relate to assets and liabilities that we continue to carry on our condensed consolidated balance sheet as of September 30, 2013. |
Longlived_Assets
Long-lived Assets | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Long-lived Assets [Abstract] | ' | ||||||||||||||||||||||||
Long-lived Assets | ' | ||||||||||||||||||||||||
Long-lived Assets | |||||||||||||||||||||||||
Property and Equipment, Net | |||||||||||||||||||||||||
The details of our property and equipment and the related accumulated depreciation are set forth below: | |||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||
Distribution systems | $ | 24,619.60 | $ | 15,372.30 | |||||||||||||||||||||
Customer premises equipment | 6,094.60 | 4,162.60 | |||||||||||||||||||||||
Support equipment, buildings and land | 3,534.00 | 2,282.10 | |||||||||||||||||||||||
34,248.20 | 21,817.00 | ||||||||||||||||||||||||
Accumulated depreciation | (10,517.7 | ) | (8,379.4 | ) | |||||||||||||||||||||
Total property and equipment, net | $ | 23,730.50 | $ | 13,437.60 | |||||||||||||||||||||
During the nine months ended September 30, 2013 and 2012, we recorded non-cash increases to our property and equipment related to assets acquired under capital leases of $108.3 million and $45.5 million, respectively. In addition, during the nine months ended September 30, 2013 and 2012, we recorded non-cash increases related to vendor financing arrangements of $366.0 million and $152.3 million, respectively, which amounts exclude related value-added taxes of $28.9 million and $20.7 million, respectively, that were also financed by our vendors under these arrangements. | |||||||||||||||||||||||||
In May 2012, through VTR Wireless, we began offering mobile services in Chile through a combination of our own wireless network and certain third-party wireless access arrangements. During the second quarter of 2013, we began exploring strategic alternatives with respect to VTR Wireless' mobile operations, including alternatives that involved the use of expanded mobile virtual network operator (MVNO) arrangements. Effective April 1, 2013, we reduced the useful lives of VTR Wireless' network equipment to reflect our then expectation that we would enter into a new MVNO arrangement and cease use of VTR Wireless’ mobile network during the fourth quarter of 2013. In September 2013, (i) VTR Wireless completed the process of migrating all of its mobile traffic to a third-party wireless network pursuant to its existing roaming agreement and (ii) we ceased use of VTR Wireless’ mobile network, which resulted in a further reduction in the useful lives of VTR Wireless’ network equipment. As a result of the aforementioned reductions in useful lives, VTR Wireless recognized aggregate incremental depreciation expense of $42.4 million and $55.4 million during the second and third quarters of 2013, respectively. In connection with the foregoing, we have (i) included the principal amount due under the VTR Wireless Bank Facility (as defined in note 7) in the current portion of debt and capital lease obligations in our September 30, 2013 condensed consolidated balance sheet and (ii) recorded restructuring charges totaling $79.8 million during the third quarter of 2013. These restructuring charges include the discounted amount of the remaining payments due under VTR Wireless’ tower and real estate operating leases and, to a lesser extent, the discounted amount of the remaining payments to be incurred in connection with the removal of VTR Wireless’ equipment from the associated towers. For additional information, see note 11. | |||||||||||||||||||||||||
Goodwill | |||||||||||||||||||||||||
Changes in the carrying amount of our goodwill during the nine months ended September 30, 2013 are set forth below: | |||||||||||||||||||||||||
1-Jan-13 | Acquisitions | Foreign | September 30, | ||||||||||||||||||||||
and related | currency | 2013 | |||||||||||||||||||||||
adjustments | translation | ||||||||||||||||||||||||
adjustments and other | |||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||
European Operations Division: | |||||||||||||||||||||||||
U.K. (Virgin Media) | $ | — | $ | 9,020.20 | $ | 376 | $ | 9,396.20 | |||||||||||||||||
Germany (Unitymedia KabelBW) | 3,770.30 | — | 95.4 | 3,865.70 | |||||||||||||||||||||
Belgium (Telenet) | 2,158.30 | — | 54.6 | 2,212.90 | |||||||||||||||||||||
The Netherlands | 1,206.20 | — | 30.6 | 1,236.80 | |||||||||||||||||||||
Switzerland | 3,107.90 | 0.1 | 33 | 3,141.00 | |||||||||||||||||||||
Other Western Europe | 1,031.50 | — | 28 | 1,059.50 | |||||||||||||||||||||
Total Western Europe | 11,274.20 | 9,020.30 | 617.6 | 20,912.10 | |||||||||||||||||||||
Central and Eastern Europe | 1,509.50 | — | 0.6 | 1,510.10 | |||||||||||||||||||||
Total European Operations Division | 12,783.70 | 9,020.30 | 618.2 | 22,422.20 | |||||||||||||||||||||
Chile (VTR Group) | 558 | — | (28.9 | ) | 529.1 | ||||||||||||||||||||
Corporate and other | 535.9 | 75.9 | 2.5 | 614.3 | |||||||||||||||||||||
Total | $ | 13,877.60 | $ | 9,096.20 | $ | 591.8 | $ | 23,565.60 | |||||||||||||||||
In the case of two of our smaller reporting units (our broadband communications operations in Puerto Rico and Chellomedia’s programming operations in central and eastern Europe), a hypothetical decline of 20% or more in the fair value of either of these reporting units could result in the need to record a goodwill impairment charge based on the results of our October 1, 2012 goodwill impairment test. At September 30, 2013, the goodwill associated with these Puerto Rico and Chellomedia reporting units was $349.3 million and $31.2 million, respectively. As further described in note 15, Chellomedia’s programming operations in central and eastern Europe are included in an asset group that we have agreed to sell to a third party for a purchase price that would result in our recognition of a gain upon completion of the disposition. | |||||||||||||||||||||||||
If, among other factors, (i) our equity values were to decline significantly or (ii) the adverse impacts of economic, competitive, regulatory or other factors were to cause our results of operations or cash flows to be worse than anticipated, we could conclude in future periods that impairment charges are required in order to reduce the carrying values of our goodwill, and to a lesser extent, other long-lived assets. Any such impairment charges could be significant. | |||||||||||||||||||||||||
At September 30, 2013 and December 31, 2012 and based on exchange rates as of those dates, the amount of our accumulated goodwill impairments was $281.0 million and $274.8 million, respectively. These amounts include accumulated impairments related to our broadband communications operations in Romania, which are included within the European Operations Division’s Central and Eastern Europe segment, and Chellomedia’s programming operations in central and eastern Europe, which are included in our corporate and other category. | |||||||||||||||||||||||||
Intangible Assets Subject to Amortization, Net | |||||||||||||||||||||||||
The details of our intangible assets subject to amortization are set forth below: | |||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Gross carrying amount | Accumulated amortization | Net carrying amount | Gross carrying amount | Accumulated amortization | Net carrying amount | ||||||||||||||||||||
in millions | |||||||||||||||||||||||||
Customer relationships | $ | 8,203.50 | $ | (2,272.7 | ) | $ | 5,930.80 | $ | 4,117.50 | $ | (1,780.0 | ) | $ | 2,337.50 | |||||||||||
Other | 389.4 | (171.6 | ) | 217.8 | 379.3 | (135.5 | ) | 243.8 | |||||||||||||||||
Total | $ | 8,592.90 | $ | (2,444.3 | ) | $ | 6,148.60 | $ | 4,496.80 | $ | (1,915.5 | ) | $ | 2,581.30 | |||||||||||
Telenet’s intangible assets that are subject to amortization include spectrum rights with a carrying value of $74.6 million at September 30, 2013. Telenet is continuing its efforts to use this asset as initially intended by management. Depending on the outcome of these efforts and Telenet’s evaluation of alternative means to use or monetize this asset, a triggering event might occur that could lead to the impairment of all or part of the carrying value of this asset. |
Debt_and_Capital_Lease_Obligat
Debt and Capital Lease Obligations | 9 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||
Debt and Capital Lease Obligations [Abstract] | ' | ||||||||||||||||||||||||||
Debt and Capital Lease Obligations | ' | ||||||||||||||||||||||||||
Debt and Capital Lease Obligations | |||||||||||||||||||||||||||
The U.S. dollar equivalents of the components of our consolidated debt and capital lease obligations are as follows: | |||||||||||||||||||||||||||
September 30, 2013 | Carrying value (d) | ||||||||||||||||||||||||||
Weighted | Unused borrowing | Estimated fair value (c) | |||||||||||||||||||||||||
average | capacity (b) | ||||||||||||||||||||||||||
interest | |||||||||||||||||||||||||||
rate (a) | Borrowing | U.S. $ | 30-Sep-13 | 31-Dec-12 | 30-Sep-13 | December 31, 2012 | |||||||||||||||||||||
currency | equivalent | ||||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||||
Debt: | |||||||||||||||||||||||||||
VM Credit Facility | 3.77 | % | £ | 660 | $ | 1,068.10 | $ | 4,334.80 | $ | — | $ | 4,315.00 | $ | — | |||||||||||||
VM Notes | 6.36 | % | — | — | 8,973.70 | — | 9,038.40 | — | |||||||||||||||||||
VM Convertible Notes (e) | 6.5 | % | — | — | 153.3 | — | 57.7 | — | |||||||||||||||||||
UPC Broadband Holding Bank Facility | 3.73 | % | € | 1,046.20 | 1,415.70 | 5,622.80 | 5,494.40 | 5,598.50 | 5,466.80 | ||||||||||||||||||
UPC Holding Senior Notes | 7.52 | % | — | — | 3,174.50 | 3,190.00 | 3,047.80 | 2,905.90 | |||||||||||||||||||
UPCB SPE Notes | 6.88 | % | — | — | 4,475.20 | 4,502.30 | 4,187.20 | 4,145.20 | |||||||||||||||||||
Unitymedia KabelBW Notes | 7.04 | % | — | — | 7,785.00 | 7,416.50 | 7,488.90 | 6,815.50 | |||||||||||||||||||
Unitymedia KabelBW Revolving Credit Facilities | 3.23 | % | € | 417.5 | 565 | — | — | — | — | ||||||||||||||||||
Telenet Credit Facility | 3.62 | % | € | 158 | 213.8 | 1,917.20 | 1,860.00 | 1,900.70 | 1,853.70 | ||||||||||||||||||
Telenet SPE Notes | 5.92 | % | — | — | 2,797.30 | 2,777.60 | 2,707.50 | 2,641.00 | |||||||||||||||||||
Sumitomo Collar Loan | 1.88 | % | — | — | 1,007.40 | 1,175.10 | 957.3 | 1,083.60 | |||||||||||||||||||
Ziggo Collar Loan (f) | 0.45 | % | — | — | 835.9 | — | 835.7 | — | |||||||||||||||||||
Liberty Puerto Rico Bank Facility (g) | 6.88 | % | $ | 25 | 25 | 658.4 | 667 | 656.4 | 663.9 | ||||||||||||||||||
Ziggo Margin Loan | 3.08 | % | — | — | 622.4 | — | 622.4 | — | |||||||||||||||||||
Vendor financing (h) | 3.58 | % | — | — | 418.1 | 276.8 | 418.1 | 276.8 | |||||||||||||||||||
Other | 8.49 | % | CLP | 585 | 1.2 | 317.7 | 282.5 | 317.7 | 282.5 | ||||||||||||||||||
Total debt | 5.57 | % | $ | 3,288.80 | $ | 43,093.70 | $ | 27,642.20 | 42,149.30 | 26,134.90 | |||||||||||||||||
Capital lease obligations: | |||||||||||||||||||||||||||
Unitymedia KabelBW | 941 | 937.1 | |||||||||||||||||||||||||
Telenet | 441.9 | 405.1 | |||||||||||||||||||||||||
Virgin Media | 402.3 | — | |||||||||||||||||||||||||
Other subsidiaries | 67.2 | 47.4 | |||||||||||||||||||||||||
Total capital lease obligations | 1,852.40 | 1,389.60 | |||||||||||||||||||||||||
Total debt and capital lease obligations | 44,001.70 | 27,524.50 | |||||||||||||||||||||||||
Current maturities | (854.1 | ) | (363.5 | ) | |||||||||||||||||||||||
Long-term debt and capital lease obligations | $ | 43,147.60 | $ | 27,161.00 | |||||||||||||||||||||||
_______________ | |||||||||||||||||||||||||||
(a) | Represents the weighted average interest rate in effect at September 30, 2013 for all borrowings outstanding pursuant to each debt instrument including any applicable margin. The interest rates presented represent stated rates and do not include the impact of our interest rate derivative contracts, deferred financing costs, original issue premiums or discounts or commitment fees, all of which affect our overall cost of borrowing. Including the effects of derivative instruments, original issue premiums and discounts and commitment fees, but excluding the impact of financing costs, our weighted average interest rate on our aggregate variable- and fixed-rate indebtedness was approximately 6.7% at September 30, 2013. For information concerning our derivative instruments, see note 4. | ||||||||||||||||||||||||||
(b) | Unused borrowing capacity represents the maximum availability under the applicable facility at September 30, 2013 without regard to covenant compliance calculations or other conditions precedent to borrowing. At September 30, 2013, the full amount of unused borrowing capacity was available to be borrowed under each of the respective subsidiary facilities based on the applicable leverage and other financial covenants, except as noted below. At September 30, 2013, our availability under the UPC Broadband Holding Bank Facility (as defined and described below), the VM Credit Facility (as defined and described below), Unitymedia KabelBW’s revolving credit facilities, the CLP 60.0 billion ($118.8 million) term loan bank facility of VTR Wireless (the VTR Wireless Bank Facility) and the bank credit facility of Liberty Puerto Rico (the Liberty Puerto Rico Bank Facility) was limited to €365.5 million ($494.6 million), £501.4 million ($811.5 million), €80.0 million ($108.3 million), CLP 585.0 million ($1.2 million) and $14.6 million, respectively. When the relevant September 30, 2013 compliance reporting requirements have been completed and assuming no changes from September 30, 2013 borrowing levels, we anticipate that our availability under the UPC Broadband Holding Bank Facility, the VM Credit Facility and the Liberty Puerto Rico Bank Facility will be limited to €432.3 million ($585.0 million), £622.0 million ($1,006.6 million) and $25.0 million, respectively. In addition to the limitations noted above, the debt instruments of our subsidiaries contain restricted payment tests that limit the amount that can be loaned or distributed to other Liberty Global subsidiaries and ultimately to Liberty Global. When the relevant September 30, 2013 compliance reporting requirements have been completed and assuming no changes from September 30, 2013 borrowing levels, these restrictions are not expected to impact our ability to access the liquidity of our subsidiaries to satisfy our corporate liquidity needs beyond what is described above, except that we anticipate that only £60.7 million ($98.2 million) and €117.4 million ($158.9 million) of the borrowing capacity of Virgin Media and Unitymedia KabelBW, respectively, and none of the liquidity of Liberty Puerto Rico will be available under these tests to be loaned or distributed to other Liberty Global subsidiaries and ultimately to Liberty Global. No amounts were available to be loaned or distributed by these subsidiaries at September 30, 2013. | ||||||||||||||||||||||||||
(c) | The estimated fair values of our debt instruments were determined using the average of applicable bid and ask prices (mostly Level 1 of the fair value hierarchy) or, when quoted market prices are unavailable or not considered indicative of fair value, discounted cash flow models (mostly Level 2 of the fair value hierarchy). The discount rates used in the cash flow models are based on the market interest rates and estimated credit spreads of the applicable entity, to the extent available, and other relevant factors. For additional information concerning fair value hierarchies, see note 5. | ||||||||||||||||||||||||||
(d) | Amounts include the impact of premiums and discounts, where applicable. | ||||||||||||||||||||||||||
(e) | The $2,716.8 million fair value of the VM Convertible Notes (as defined and described below) on the date of the Virgin Media Acquisition includes $1,056.8 million that we allocated to a debt component and $1,660.0 million that we allocated to an equity component. See the related discussion below for additional information. The amount reported in the estimated fair value column for the VM Convertible Notes represents the estimated fair value of the remaining VM Convertible Notes outstanding as of September 30, 2013, including both the debt and equity components. | ||||||||||||||||||||||||||
(f) | For information regarding the Ziggo Collar Loan, see note 4. | ||||||||||||||||||||||||||
(g) | In May 2013, we obtained a waiver for a technical default under the Liberty Puerto Rico Bank Facility. The default was identified in connection with our review of the financial statements of OneLink for periods prior to our November 8, 2012 acquisition of OneLink. As a result of this review and a review of the related compliance certificates furnished to lenders, we concluded during the second quarter of 2013 that materially misstated financial information had been provided to lenders for the 2012 reporting periods prior to and including September 30, 2012. The furnishing of this materially misstated financial information to lenders constituted a technical default under the Liberty Puerto Rico Bank Facility, but did not create a cross default in any of our other debt agreements. | ||||||||||||||||||||||||||
(h) | Represents amounts owed pursuant to interest-bearing vendor financing arrangements that are generally due within one year. At September 30, 2013 and December 31, 2012, the amounts owed pursuant to these arrangements include $33.2 million and $29.1 million, respectively, of value-added taxes that were paid on our behalf by the vendor. Repayments of vendor financing obligations are included in repayments and repurchases of debt and capital lease obligations in our condensed consolidated statements of cash flows. | ||||||||||||||||||||||||||
VM Credit Facility | |||||||||||||||||||||||||||
On June 7, 2013, VMIH, together with certain other subsidiaries of Virgin Media as borrowers and guarantors (the Virgin Media Borrowing Group) entered into a new senior secured credit facility agreement (the VM Credit Facility), pursuant to which the lenders thereunder agreed to provide the borrowers with (i) a £375.0 million ($606.9 million) term loan (VM Facility A), (ii) a $2,755.0 million term loan (VM Facility B), (iii) a £600.0 million ($971.0 million) term loan (VM Facility C) and (iv) a £660.0 million ($1,068.1 million) revolving credit facility (the VM Revolving Facility). With the exception of the VM Revolving Facility, all available amounts were borrowed under the VM Credit Facility in June 2013. | |||||||||||||||||||||||||||
The VM Credit Facility requires that certain members of the Virgin Media Borrowing Group that generate not less than 80% of such group's EBITDA (as defined in the VM Credit Facility) in any financial year, guarantee the payment of all sums payable under the VM Credit Facility and such group members are required to grant first-ranking security over all or substantially all of their assets to secure the payment of all sums payable. In addition, the holding company of each borrower must give a share pledge over its shares in such borrower. | |||||||||||||||||||||||||||
In addition to mandatory prepayments which must be made for certain disposal proceeds (subject to certain de minimis thresholds), the lenders may cancel their commitments and declare the loans due and payable after 30 business days following the occurrence of a change of control in respect of VMIH, subject to certain exceptions. | |||||||||||||||||||||||||||
The VM Credit Facility contains certain customary events of default, the occurrence of which, subject to certain exceptions and materiality qualifications, would allow the lenders to (i) cancel the total commitments, (ii) accelerate all outstanding loans and terminate their commitments thereunder and/or (iii) declare that all or part of the loans be payable on demand. The VM Credit Facility contains certain representations and warranties customary for facilities of this type, which are subject to exceptions, baskets and materiality qualifications. | |||||||||||||||||||||||||||
The VM Credit Facility restricts the ability of certain members of the Virgin Media Borrowing Group to, among other things, (i) incur or guarantee certain financial indebtedness, (ii) make certain disposals and acquisitions and (iii) create certain security interests over their assets, in each case, subject to carve-outs from such limitations. | |||||||||||||||||||||||||||
The VM Credit Facility requires the borrowers to observe certain affirmative undertakings or covenants, which covenants are subject to materiality and other customary and agreed exceptions. In addition, the VM Credit Facility also requires compliance with various financial covenants such as Senior Net Debt to Annualized EBITDA and Total Net Debt to Annualized EBITDA, each capitalized term as defined in the VM Credit Facility. | |||||||||||||||||||||||||||
In addition to customary default provisions, the VM Credit Facility provides that any event of default with respect to indebtedness of £50.0 million ($80.9 million) or more in the aggregate of Virgin Media Finance PLC (Virgin Media Finance), a wholly-owned subsidiary of Virgin Media, and its subsidiaries is an event of default under the VM Credit Facility. | |||||||||||||||||||||||||||
The VM Credit Facility permits certain members of the Virgin Media Borrowing Group to make certain distributions and restricted payments to its parent company (and indirectly to Liberty Global) through loans, advances or dividends subject to compliance with applicable covenants. | |||||||||||||||||||||||||||
The details of our borrowings under the VM Credit Facility are summarized in the following table: | |||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||
Facility | Final maturity date | Interest rate | Facility amount | Unused | Carrying | ||||||||||||||||||||||
(in borrowing | borrowing | value (b) | |||||||||||||||||||||||||
currency) | capacity (a) | ||||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||||
A | June 7, 2019 | LIBOR + 3.25% | £ | 375 | $ | — | $ | 606.9 | |||||||||||||||||||
B | June 7, 2020 | LIBOR + 2.75% (c) | $ | 2,755.00 | — | 2,741.80 | |||||||||||||||||||||
C | June 7, 2020 | LIBOR + 3.75% (c) | £ | 600 | — | 966.3 | |||||||||||||||||||||
Revolving Facility | June 7, 2019 | LIBOR + 3.25% | £ | 660 | 1,068.10 | — | |||||||||||||||||||||
Total | $ | 1,068.10 | $ | 4,315.00 | |||||||||||||||||||||||
_______________ | |||||||||||||||||||||||||||
(a) | At September 30, 2013, our availability was limited to £501.4 million ($811.5 million). When the relevant September 30, 2013 compliance reporting requirements have been completed and assuming no changes from September 30, 2013 borrowing levels, we anticipate that our availability will be limited to £622.0 million ($1,006.6 million). The VM Revolving Facility has a commitment fee on unused and uncanceled balances of 1.3% per year. | ||||||||||||||||||||||||||
(b) | The carrying values of VM Facilities B and C include the impact of discounts. | ||||||||||||||||||||||||||
(c) | VM Facilities B and C have a LIBOR floor of 0.75%. | ||||||||||||||||||||||||||
VM Notes | |||||||||||||||||||||||||||
At September 30, 2013, the following senior notes of certain Virgin Media subsidiaries were outstanding: | |||||||||||||||||||||||||||
• | $507.1 million principal amount of 8.375% senior notes (the 2019 VM Dollar Senior Notes) and £253.5 million ($410.3 million) principal amount of 8.875% senior notes (the 2019 VM Sterling Senior Notes and, together with the 2019 VM Dollar Senior Notes, the 2019 VM Senior Notes). The 2019 VM Senior Notes were issued by Virgin Media Finance; | ||||||||||||||||||||||||||
• | $1.0 billion principal amount of 6.50% senior secured notes (the 2018 VM Dollar Senior Secured Notes) and £875.0 million ($1,416.1 million) principal amount of 7.0% senior secured notes (the 2018 VM Sterling Senior Secured Notes and, together with the 2018 VM Dollar Senior Secured Notes, the 2018 VM Senior Secured Notes). The 2018 VM Senior Secured Notes were issued by Virgin Media Secured Finance PLC (Virgin Media Secured Finance), a wholly-owned subsidiary of Virgin Media; | ||||||||||||||||||||||||||
• | $447.9 million principal amount of 5.25% senior secured notes (the January 2021 VM Dollar Senior Secured Notes) and £628.4 million ($1,017.0 million) principal amount of 5.50% senior secured notes (the January 2021 VM Sterling Senior Secured Notes and, together with the January 2021 VM Dollar Senior Secured Notes, the January 2021 VM Senior Secured Notes). The January 2021 VM Senior Secured Notes were issued by Virgin Media Secured Finance; | ||||||||||||||||||||||||||
• | $95.0 million principal amount of 5.25% senior notes (the 2022 VM 5.25% Dollar Senior Notes); | ||||||||||||||||||||||||||
• | $118.7 million principal amount of 4.875% senior notes (the 2022 VM 4.875% Dollar Senior Notes) and £44.1 million ($71.4 million) principal amount of 5.125% senior notes (the 2022 VM Sterling Senior Notes and, together with the 2022 VM 4.875% Dollar Senior Notes and the 2022 VM 5.25% Dollar Senior Notes, the 2022 VM Senior Notes). The 2022 VM Senior Notes were issued by Virgin Media Finance; | ||||||||||||||||||||||||||
• | $1.0 billion principal amount of 5.375% senior secured notes (the April 2021 VM Dollar Senior Secured Notes) and £1.1 billion ($1.8 billion) principal amount of 6.0% senior secured notes (the April 2021 VM Sterling Senior Secured Notes and, together with the April 2021 VM Dollar Senior Secured Notes, the April 2021 VM Senior Secured Notes); and | ||||||||||||||||||||||||||
• | $530.0 million principal amount of 6.375% senior notes (the 2023 VM Dollar Senior Notes) and £250.0 million ($404.6 million) principal amount of 7.0% senior notes (the 2023 VM Sterling Senior Notes and, together with the 2023 VM Dollar Senior Notes, the 2023 VM Senior Notes). | ||||||||||||||||||||||||||
The April 2021 VM Senior Secured Notes and the 2023 VM Senior Notes were originally issued by our subsidiaries in February 2013 in connection with the execution of the Virgin Media Merger Agreement. The net proceeds (after deducting certain transaction expenses) from the April 2021 VM Senior Secured Notes and the 2023 VM Senior Notes of $3,557.5 million (equivalent at the transaction date) were placed into the Virgin Media Escrow Accounts. Such net proceeds were released in connection with the closing of the Virgin Media Acquisition. In addition, upon completion of the Virgin Media Acquisition, the April 2021 VM Senior Secured Notes and the 2023 VM Senior Notes were pushed down to Virgin Media Secured Finance and Virgin Media Finance, respectively. | |||||||||||||||||||||||||||
The 2018 VM Senior Secured Notes, the January 2021 VM Senior Secured Notes and the April 2021 VM Senior Secured Notes are collectively referred to as the “VM Senior Secured Notes.” The 2019 VM Senior Notes, the 2022 VM Senior Notes and the 2023 VM Senior Notes are collectively referred to as the “VM Senior Notes” (and together with the VM Senior Secured Notes, the VM Notes). | |||||||||||||||||||||||||||
Under the terms of the applicable indentures, the completion of the Virgin Media Acquisition represented a “Change of Control” event that required Virgin Media Secured Finance and Virgin Media Finance, as applicable, to offer to repurchase the January 2021 VM Senior Secured Notes and the 2022 VM Senior Notes at a repurchase price of 101% of par. In this regard, on June 11, 2013, Virgin Media Secured Finance and Virgin Media Finance, as applicable, redeemed (i) $52.1 million of the January 2021 VM Dollar Senior Secured Notes, (ii) £21.6 million ($35.0 million) of the January 2021 VM Sterling Senior Secured Notes, (iii) $405.0 million of the 2022 VM 5.25% Dollar Senior Notes, (iv) $781.3 million of the 2022 VM 4.875% Dollar Senior Notes and (v) £355.9 million ($576.0 million) of the 2022 VM Sterling Senior Notes. With respect to the 2019 VM Senior Notes and the 2018 VM Senior Secured Notes, Virgin Media previously had obtained consent from holders of such notes to waive its repurchase obligations under the respective indentures related to the “Change of Control” provisions. The Virgin Media Acquisition did not constitute a “Change of Control” event under the indentures governing the April 2021 VM Senior Secured Notes and the 2023 VM Senior Notes. | |||||||||||||||||||||||||||
The details of the VM Notes are summarized in the following table: | |||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||
Outstanding principal | |||||||||||||||||||||||||||
amount | |||||||||||||||||||||||||||
VM Notes | Maturity | Interest | Borrowing | U.S. $ | Estimated | Carrying | |||||||||||||||||||||
rate | currency | equivalent | fair value | value (a) | |||||||||||||||||||||||
in millions | |||||||||||||||||||||||||||
2018 VM Dollar Senior Secured Notes | January 15, 2018 | 6.50% | $ | 1,000.00 | $ | 1,000.00 | $ | 1,042.50 | $ | 1,045.20 | |||||||||||||||||
2018 VM Sterling Senior Secured Notes | January 15, 2018 | 7.00% | £ | 875 | 1,416.10 | 1,479.70 | 1,484.50 | ||||||||||||||||||||
2019 VM Dollar Senior Notes | October 15, 2019 | 8.38% | $ | 507.1 | 507.1 | 551.5 | 559.4 | ||||||||||||||||||||
2019 VM Sterling Senior Notes | October 15, 2019 | 8.88% | £ | 253.5 | 410.3 | 446.4 | 450.8 | ||||||||||||||||||||
January 2021 VM Dollar Senior Secured Notes | January 15, 2021 | 5.25% | $ | 447.9 | 447.9 | 437.8 | 462.7 | ||||||||||||||||||||
January 2021 VM Sterling Senior Secured Notes | January 15, 2021 | 5.50% | £ | 628.4 | 1,017.00 | 1,023.90 | 1,033.40 | ||||||||||||||||||||
April 2021 VM Dollar Senior Secured Notes | April 15, 2021 | 5.38% | $ | 1,000.00 | 1,000.00 | 978.8 | 1,000.00 | ||||||||||||||||||||
April 2021 VM Sterling Senior Secured Notes | April 15, 2021 | 6.00% | £ | 1,100.00 | 1,780.10 | 1,812.40 | 1,780.10 | ||||||||||||||||||||
2022 VM 5.25% Dollar Senior Notes | February 15, 2022 | 5.25% | $ | 95 | 95 | 93.1 | 95.9 | ||||||||||||||||||||
2022 VM 4.875% Dollar Senior Notes | February 15, 2022 | 4.88% | $ | 118.7 | 118.7 | 100.1 | 119.7 | ||||||||||||||||||||
2022 VM Sterling Senior Notes | February 15, 2022 | 5.13% | £ | 44.1 | 71.4 | 66.8 | 72.1 | ||||||||||||||||||||
2023 VM Dollar Senior Notes | April 15, 2023 | 6.38% | $ | 530 | 530 | 529 | 530 | ||||||||||||||||||||
2023 VM Sterling Senior Notes | April 15, 2023 | 7.00% | £ | 250 | 404.6 | 411.7 | 404.6 | ||||||||||||||||||||
$ | 8,798.20 | $ | 8,973.70 | $ | 9,038.40 | ||||||||||||||||||||||
_______________ | |||||||||||||||||||||||||||
(a) | Amounts include the impact of premiums and discounts, where applicable, including amounts recorded in connection with the acquisition accounting for the Virgin Media Acquisition. | ||||||||||||||||||||||||||
The VM Senior Notes are unsecured senior obligations of Virgin Media Finance that rank equally with all of the existing and future senior debt of Virgin Media Finance and are senior to all existing and future subordinated debt of Virgin Media Finance. The VM Senior Notes are guaranteed on a senior basis by Virgin Media and certain of its subsidiaries, and on a senior subordinated basis by VMIH and Virgin Media Investments Limited. | |||||||||||||||||||||||||||
The VM Senior Secured Notes are senior obligations of Virgin Media Secured Finance that rank equally with all of the existing and future senior debt of Virgin Media Secured Finance and are senior to all existing and future subordinated debt of Virgin Media Secured Finance. The VM Senior Secured Notes are guaranteed on a senior basis by Virgin Media and certain subsidiaries of Virgin Media (the VM Senior Secured Guarantors), and are secured by liens on substantially all of the assets of Virgin Media Secured Finance and the VM Senior Secured Guarantors (except for Virgin Media). | |||||||||||||||||||||||||||
Subject to the circumstances described below, the January 2021 VM Senior Secured Notes and the 2022 VM Senior Notes are non-callable. At any time prior to maturity, Virgin Media Secured Finance or Virgin Media Finance (as applicable) may redeem some or all of the January 2021 VM Senior Secured Notes or the 2022 VM Senior Notes (as applicable) by paying a “make-whole” premium, which is the present value of all remaining scheduled interest payments to (i) January 15, 2021 using the discount rate (as specified in the indenture) as of the applicable redemption date plus 25 basis points in the case of the January 2021 VM Senior Secured Notes or (ii) February 15, 2022 using the discount rate (as specified in the applicable indenture) as of the applicable redemption date plus 50 basis points in the case of the 2022 VM Senior Notes. | |||||||||||||||||||||||||||
Subject to the circumstances described below, the 2018 VM Senior Secured Notes are non-callable until January 15, 2014, the 2019 VM Senior Notes are non-callable until October 15, 2014, the April 2021 VM Senior Secured Notes are non-callable until April 15, 2017 and the 2023 VM Senior Notes are non-callable until April 15, 2018. At any time prior to January 15, 2014 in the case of the 2018 VM Senior Secured Notes, October 15, 2014 in the case of the 2019 VM Senior Notes, April 15, 2017 in the case of the April 2021 VM Senior Secured Notes or April 15, 2018 in the case of the 2023 VM Senior Notes, Virgin Media Secured Finance and Virgin Media Finance (as applicable) may redeem some or all of the 2018 VM Senior Secured Notes, the 2019 VM Senior Notes, the April 2021 VM Senior Secured Notes or the 2023 VM Senior Notes (as applicable) by paying a “make-whole” premium, which is the present value of all remaining scheduled interest payments to January 15, 2014, October 15, 2014, April 15, 2017 or April 15, 2018 (as applicable) using the discount rate (as specified in the applicable indenture) as of the redemption date plus 50 basis points. | |||||||||||||||||||||||||||
Virgin Media Finance and Virgin Media Secured Finance (as applicable) may redeem some or all of the 2018 VM Senior Secured Notes, the 2019 VM Senior Notes, the April 2021 VM Senior Secured Notes or the 2023 VM Senior Notes at the following redemption prices (expressed as a percentage of the principal amount) plus accrued and unpaid interest and Additional Amounts (as defined in the applicable indenture), if any, to the applicable redemption date, if redeemed during the twelve-month period commencing on January 15 in the case of the 2018 VM Senior Secured Notes, October 15 in the case of the 2019 VM Senior Notes or April 15 in the case of the April 2021 VM Senior Secured Notes and the 2023 VM Senior Notes of the years set forth below: | |||||||||||||||||||||||||||
Redemption price | |||||||||||||||||||||||||||
Year | 2018 VM Dollar Senior Secured Notes | 2018 VM Sterling Senior Secured Notes | 2019 VM Dollar Senior Notes | 2019 VM Sterling Senior Notes | April 2021 VM Dollar Senior Secured Notes | April 2021 VM Sterling Senior Secured Notes | 2023 VM Dollar Senior Notes | 2023 VM Sterling Senior Notes | |||||||||||||||||||
2014 | 103.25% | 103.50% | 104.19% | 104.44% | N.A. | N.A. | N.A. | N.A. | |||||||||||||||||||
2015 | 101.63% | 101.75% | 102.79% | 102.96% | N.A. | N.A. | N.A. | N.A. | |||||||||||||||||||
2016 | 100.00% | 100.00% | 101.40% | 101.48% | N.A. | N.A. | N.A. | N.A. | |||||||||||||||||||
2017 | 100.00% | 100.00% | 100.00% | 100.00% | 102.69% | 103.00% | N.A. | N.A. | |||||||||||||||||||
2018 | N.A. | N.A. | 100.00% | 100.00% | 101.34% | 101.50% | 103.19% | 103.50% | |||||||||||||||||||
2019 | N.A. | N.A. | N.A. | N.A. | 100.00% | 100.00% | 102.13% | 102.33% | |||||||||||||||||||
2020 | N.A. | N.A. | N.A. | N.A. | 100.00% | 100.00% | 101.06% | 101.67% | |||||||||||||||||||
2021 and thereafter | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | 100.00% | 100.00% | |||||||||||||||||||
In addition, at any time prior to April 15, 2016, Virgin Media Secured Finance and Virgin Media Finance (as applicable) may redeem up to 40% of the April 2021 VM Senior Secured Notes and the 2023 VM Senior Notes, respectively, at redemption prices of 105.375% in the case of the April 2021 VM Dollar Senior Secured Notes, 106.000% in the case of the April 2021 VM Sterling Senior Secured Notes, 106.375% in the case of the 2023 VM Dollar Senior Notes and 107.000% in the case of the 2023 VM Sterling Senior Notes, with the net proceeds from one or more specified equity offerings. Further, Virgin Media Finance and Virgin Media Secured Finance (as applicable) may redeem all, but not less than all, of the VM Senior Notes and VM Senior Secured Notes at a price equal to their respective principal amount plus accrued and unpaid interest upon the occurrence of certain changes in tax law. | |||||||||||||||||||||||||||
VM Convertible Notes | |||||||||||||||||||||||||||
In April 2008, Virgin Media issued $1.0 billion principal amount of 6.50% convertible senior notes (the VM Convertible Notes), pursuant to an indenture (as supplemented, the VM Convertible Notes Indenture). The VM Convertible Notes mature on November 15, 2016, unless the VM Convertible Notes are exchanged or repurchased prior thereto pursuant to the terms of the VM Convertible Notes Indenture. | |||||||||||||||||||||||||||
As a result of the application of acquisition accounting in connection with the Virgin Media Acquisition, the $2,716.8 million estimated fair value of the VM Convertible Notes at June 7, 2013 was allocated between the respective debt and equity components. The portion allocated to the debt component of $1,056.8 million was measured based on the estimated fair value of a debt instrument that has the same terms as the VM Convertible Notes without the conversion feature. The amount allocated to the debt component resulted in a premium to the principal amount of the VM Convertible Notes. The $1,660.0 million portion allocated to the equity component was recorded as an increase to additional paid-in capital in our condensed consolidated statement of equity. | |||||||||||||||||||||||||||
The VM Convertible Notes are exchangeable under certain conditions for (subject to further adjustment as provided in the VM Convertible Notes Indenture and subject to Virgin Media’s right to settle in cash or a combination of Liberty Global ordinary shares and cash) 13.4339 of our Class A ordinary shares, 10.0312 of our Class C ordinary shares and $910.51 in cash (without interest) for each $1,000 in principal amount of VM Convertible Notes exchanged. The circumstances under which the VM Convertible Notes are exchangeable are more fully described in the VM Convertible Notes Indenture, including, for example, based on the relationship of the value of the Virgin Media Merger Consideration to the conversion price of the VM Convertible Notes. Based on the trading prices of our Class A and Class C ordinary shares during a specified period, as provided for in the VM Convertible Notes Indenture, the VM Convertible Notes are currently exchangeable. Because the Virgin Media Acquisition constituted a “Fundamental Change” and a “Make-Whole Fundamental Change” under the VM Convertible Notes Indenture, a holder of the VM Convertible Notes who exchanged such notes at any time from June 7, 2013 through July 9, 2013 (the Make-Whole Exchange Period) received 13.8302 Class A ordinary shares, 10.3271 Class C ordinary shares and $937.37 in cash (without interest) for each $1,000 in principal amount of VM Convertible Notes exchanged. | |||||||||||||||||||||||||||
As of September 30, 2013, an aggregate of $944.2 million principal amount of VM Convertible Notes had been exchanged following the Virgin Media Acquisition for 13.1 million Class A and 9.8 million Class C ordinary shares and $885.1 million of cash. The difference between the cash portion of the exchange consideration and the aggregate $998.8 million fair value of the exchanged VM Convertible Notes on the exchange dates resulted in a net adjustment to equity of $113.7 million. No gain or loss on extinguishment was recorded for these exchanges as the debt component of the VM Convertible Notes was measured at fair value shortly before the exchanges pursuant to the application of acquisition accounting in connection with the Virgin Media Acquisition. After giving effect to all exchanges completed, the remaining principal amount outstanding under the VM Convertible Notes was $54.8 million as of September 30, 2013. | |||||||||||||||||||||||||||
The VM Convertible Notes are senior unsecured obligations of Virgin Media that rank equally in right of payment with all of Virgin Media’s existing and future senior and unsecured indebtedness and ranks senior in right to all of Virgin Media’s existing and future subordinated indebtedness. The VM Convertible Notes are effectively subordinated to all existing and future indebtedness and other obligations of Virgin Media’s subsidiaries. The VM Convertible Notes Indenture does not contain any financial or restrictive covenants. The VM Convertible Notes are non-callable. | |||||||||||||||||||||||||||
UPC Broadband Holding Bank Facility | |||||||||||||||||||||||||||
The UPC Broadband Holding Bank Facility, as amended, is the senior secured credit facility of UPC Broadband Holding. | |||||||||||||||||||||||||||
During the first and second quarters of 2013, UPC Broadband Holding entered into various new additional facility accession agreements under the UPC Broadband Holding Bank Facility that resulted in (i) a new term loan facility (Facility AG) in an aggregate amount of €1,472.4 million ($1,992.4 million), (ii) a new term loan facility (Facility AH) in an aggregate amount of $1,305.0 million, (iii) an increase to the existing Facility AG in an aggregate amount of €82.0 million ($111.0 million) (Facility AG1), (iv) an increase to the existing Facility AE in an aggregate amount of €66.9 million ($90.5 million) (Facility AE1) and (v) a new redrawable term loan facility (Facility AI) in an aggregate amount of €1,016.2 million ($1,375.1 million). In connection with these transactions, certain lenders under existing Facilities R, S, T, U, W and X novated their drawn and undrawn commitments to Liberty Global Services B.V., a wholly-owned subsidiary of UPC Broadband Holding, and entered into Facilities AG, AH, AG1 or AE1, as applicable, and certain lenders under existing Facilities W and AA entered into Facility AI directly. As a result of these transactions, (a) total commitments of €66.2 million ($89.6 million) of Facility R, €655.4 million ($886.9 million) of Facility S and all of Facility U were effectively rolled into Facility AG, (b) all amounts under Facility T and Facility X were effectively rolled into Facility AH, (c) total commitments of €78.4 million ($106.1 million) and €3.6 million ($4.9 million) under Facilities R and S, respectively, were effectively rolled into Facility AG1, (d) total commitments of €35.0 million ($47.4 million) under Facility R were effectively rolled into Facility AE1, (e) undrawn commitments of €31.9 million ($43.2 million) under Facility W were effectively rolled into Facility AE1 and such amount was fully drawn and (f) total undrawn commitments of €112.2 million ($151.8 million) and €904.0 million ($1,223.3 million) under Facilities W and AA, respectively, were effectively rolled into Facility AI. In addition, Facilities W and AA were cancelled. The terms of Facility AG1 and Facility AE1 are substantially the same as those of Facility AG and Facility AE, respectively. At any time during the twelve-month period that began on March 26, 2013 in the case of Facility AG, including Facility AG1, or April 19, 2013 in the case of Facility AH, upon the occurrence of a voluntary prepayment of any or all of Facility AG, including Facility AG1, or Facility AH, UPC Financing Partnership (UPC Financing), a wholly-owned subsidiary of UPC Holding, has agreed to pay a prepayment fee (in addition to the principal amount of the prepayment) in an amount equal to 1.0% of the principal amount of the outstanding Facility AG, including Facility AG1, or Facility AH advance being prepaid, plus accrued and unpaid interest then due on the amount of the outstanding Facility AG, including Facility AG1, or Facility AH advance prepaid to the date of prepayment. In connection with the prepayment of amounts outstanding under Facilities R, S, T, U and X, we recognized losses on debt modification and extinguishment of $11.9 million during the second quarter of 2013 including (1) $7.7 million of third-party costs and (2) $4.2 million associated with the write-off deferred financing costs and an unamortized discount. | |||||||||||||||||||||||||||
The details of our borrowings under the UPC Broadband Holding Bank Facility are summarized in the following table: | |||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||
Facility | Final maturity date | Interest rate | Facility amount | Unused | Carrying | ||||||||||||||||||||||
(in borrowing | borrowing | value (c) | |||||||||||||||||||||||||
currency) (a) | capacity (b) | ||||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||||
Q | 31-Jul-14 | EURIBOR + 2.75% | € | 30 | $ | 40.6 | $ | — | |||||||||||||||||||
R | 31-Dec-15 | EURIBOR + 3.25% | € | 111 | — | 150.2 | |||||||||||||||||||||
S | 31-Dec-16 | EURIBOR + 3.75% | € | 545.5 | — | 738.2 | |||||||||||||||||||||
V (d) | 15-Jan-20 | 7.63% | € | 500 | — | 676.6 | |||||||||||||||||||||
Y (d) | 1-Jul-20 | 6.38% | € | 750 | — | 1,014.80 | |||||||||||||||||||||
Z (d) | 1-Jul-20 | 6.63% | $ | 1,000.00 | — | 1,000.00 | |||||||||||||||||||||
AC (d) | 15-Nov-21 | 7.25% | $ | 750 | — | 750 | |||||||||||||||||||||
AD (d) | 15-Jan-22 | 6.88% | $ | 750 | — | 750 | |||||||||||||||||||||
AE | 31-Dec-19 | EURIBOR + 3.75% | € | 602.5 | — | 815.2 | |||||||||||||||||||||
AF | 31-Jan-21 | LIBOR + 3.00% (e) | $ | 500 | — | 494.9 | |||||||||||||||||||||
AG | 31-Mar-21 | EURIBOR + 3.75% | € | 1,554.40 | — | 2,098.50 | |||||||||||||||||||||
AH | 30-Jun-21 | LIBOR + 2.50% (e) | $ | 1,305.00 | — | 1,301.50 | |||||||||||||||||||||
AI | 30-Apr-19 | EURIBOR + 3.25% | € | 1,016.20 | 1,375.10 | — | |||||||||||||||||||||
Elimination of Facilities V, Y, Z, AC and AD in consolidation (d) | — | (4,191.4 | ) | ||||||||||||||||||||||||
Total | $ | 1,415.70 | $ | 5,598.50 | |||||||||||||||||||||||
_______________ | |||||||||||||||||||||||||||
(a) | Except as described in (d) below, amounts represent total third-party facility amounts at September 30, 2013 without giving effect to the impact of discounts. | ||||||||||||||||||||||||||
(b) | At September 30, 2013, our availability was limited to €365.5 million ($494.6 million). When the relevant September 30, 2013 compliance reporting requirements have been completed and assuming no changes from September 30, 2013 borrowing levels, we anticipate that our availability will be limited to €432.3 million ($585.0 million). Facility Q and Facility AI have commitment fees on unused and uncancelled balances of 0.75% and 1.3% per year, respectively. | ||||||||||||||||||||||||||
(c) | The carrying values of Facilities AF, AG, and AH include the impact of discounts. | ||||||||||||||||||||||||||
(d) | The UPCB SPE Notes were issued by certain special purpose entities (the UPCB SPEs) that were created for the primary purpose of facilitating the offering of certain senior secured notes (the UPCB SPE Notes). The proceeds from the UPCB SPE Notes were used to fund additional Facilities V, Y, Z, AC and AD (each a UPCB Funded Facility), with UPC Financing as the borrower. Each UPCB SPE is dependent on payments from UPC Financing under the applicable UPCB Funded Facility in order to service its payment obligations under its UPCB SPE Notes. Although UPC Financing has no equity or voting interest in any of the UPCB SPEs, each of the UPCB Funded Facility loans creates a variable interest in the respective UPCB SPE for which UPC Financing is the primary beneficiary, as contemplated by GAAP. As such, UPC Financing and its parent entities, including UPC Holding and Liberty Global, are required by the provisions of GAAP to consolidate the UPCB SPEs. As a result, the amounts outstanding under Facilities V, Y, Z, AC and AD are eliminated in our condensed consolidated financial statements. | ||||||||||||||||||||||||||
(e) | Facilities AF and AH have LIBOR floors of 1.00% and 0.75%, respectively. | ||||||||||||||||||||||||||
UPC Holding Senior Notes | |||||||||||||||||||||||||||
On March 26, 2013, UPC Holding issued (i) €450.0 million ($608.9 million) principal amount of 6.75% senior notes (the UPC Holding 6.75% Euro Senior Notes) and (ii) CHF 350.0 million ($387.0 million) principal amount of 6.75% senior notes (the UPC Holding 6.75% CHF Senior Notes and, together with the UPC Holding 6.75% Euro Senior Notes, the UPC Holding 6.75% Senior Notes). The UPC Holding 6.75% Senior Notes mature on March 15, 2023. | |||||||||||||||||||||||||||
On April 25, 2013, the net proceeds from the issuance of the UPC Holding 6.75% Senior Notes were used to redeem in full (a) UPC Holding’s €300.0 million ($406.0 million) principal amount of 8.0% senior notes due 2016 (the UPC Holding 8.0% Senior Notes) and (b) UPC Holding’s €400.0 million ($541.3 million) principal amount of 9.75% senior notes due 2018 (the UPC Holding 9.75% Senior Notes). Our obligations with respect to the UPC Holding 8.0% Senior Notes and the UPC Holding 9.75% Senior Notes were legally discharged with the trustee on March 26, 2013 and March 27, 2013, respectively, in connection with the issuance of the UPC Holding 6.75% Senior Notes. The trustee, in turn, paid all amounts due to the holders of the UPC Holding 8.0% Senior Notes and UPC Holding 9.75% Senior Notes on April 25, 2013. We incurred aggregate debt extinguishment losses of $85.5 million during the first quarter of 2013, which include (i) $35.6 million of redemption premiums related to the UPC Holding 8.0% Senior Notes and the UPC Holding 9.75% Senior Notes, (ii) the write-off of $24.5 million of unamortized discount related to the UPC Holding 9.75% Senior Notes, (iii) the write-off of $19.0 million of deferred financing costs associated with the UPC Holding 8.0% Senior Notes and the UPC Holding 9.75% Senior Notes and (iv) $6.4 million of aggregate interest incurred on the UPC Holding 8.0% Senior Notes and the UPC Holding 9.75% Senior Notes between the respective dates that we and the trustee were legally discharged, as described above. | |||||||||||||||||||||||||||
The UPC Holding 6.75% Senior Notes are senior obligations that rank equally with all of the existing and future senior debt of UPC Holding and are senior to all existing and future subordinated debt of UPC Holding. The UPC Holding 6.75% Senior Notes are secured (on a shared basis) by pledges of the shares of UPC Holding. In addition, the UPC Holding 6.75% Senior Notes provide that any failure to pay principal prior to expiration of any applicable grace period, or any acceleration with respect to other indebtedness of €50.0 million ($67.7 million) or more in the aggregate of UPC Holding or its Restricted Subsidiaries (as defined in the indenture governing the UPC Holding 6.75% Senior Notes (the UPC Holding 6.75% Senior Notes Indenture)), including UPC Broadband Holding, is an event of default under the UPC Holding 6.75% Senior Notes. | |||||||||||||||||||||||||||
At any time prior to March 15, 2018, UPC Holding may redeem some or all of the UPC Holding 6.75% Senior Notes by paying a “make-whole” premium, which is the present value of all scheduled interest payments until March 15, 2018 by using the discount rate (as specified in the UPC Holding 6.75% Senior Notes Indenture) as of the redemption date, plus 50 basis points. In addition, at any time prior to March 15, 2016, UPC Holding may redeem up to 40% of the UPC Holding 6.75% Senior Notes (at a redemption price of 106.75% of the principal amount) with the net proceeds from one or more specified equity offerings. | |||||||||||||||||||||||||||
The UPC Holding 6.75% Senior Notes contain certain customary incurrence-based covenants. For example, the ability to raise certain additional debt and make certain distributions or loans to other subsidiaries of Liberty Global is subject to a Consolidated Leverage Ratio test, as defined in the UPC Holding 6.75% Senior Notes Indenture. | |||||||||||||||||||||||||||
UPC Holding may redeem some or all of the UPC Holding 6.75% Senior Notes at the following redemption prices (expressed as a percentage of the principal amount) plus accrued and unpaid interest and Additional Amounts (as defined in the UPC Holding 6.75% Senior Notes Indenture), if any, to the applicable redemption date, if redeemed during the twelve-month period commencing on March 15 of the years set forth below: | |||||||||||||||||||||||||||
Year | Redemption price | ||||||||||||||||||||||||||
2018 | 103.38% | ||||||||||||||||||||||||||
2019 | 102.25% | ||||||||||||||||||||||||||
2020 | 101.13% | ||||||||||||||||||||||||||
2021 and thereafter | 100.00% | ||||||||||||||||||||||||||
UPC Holding may redeem all of the UPC Holding 6.75% Senior Notes at a price equal to their principal amount plus accrued and unpaid interest upon the occurrence of certain changes in tax law. If UPC Holding or certain of its subsidiaries sell certain assets or experience specified changes in control, UPC Holding must offer to repurchase the UPC Holding 6.75% Senior Notes at a redemption price of 101%. | |||||||||||||||||||||||||||
Unitymedia KabelBW Notes | |||||||||||||||||||||||||||
On April 16, 2013, Unitymedia Hessen and Unitymedia NRW GmbH (together, the UM Senior Secured Notes Issuers) issued €350.0 million ($473.6 million) principal amount of 5.625% senior secured notes due April 15, 2023 (the April 2013 UM Senior Secured Notes). | |||||||||||||||||||||||||||
The April 2013 UM Senior Secured Notes are (i) senior obligations of the UM Senior Secured Notes Issuers that rank equally with all of the existing and future senior debt of each UM Senior Secured Notes Issuer and are senior to all existing and future subordinated debt of each of the UM Senior Secured Notes Issuers and (ii) are secured by a first-ranking pledge over the shares of Unitymedia KabelBW and the UM Senior Secured Notes Issuers and certain other share and/or asset security of Unitymedia KabelBW and certain of its subsidiaries. | |||||||||||||||||||||||||||
The April 2013 UM Senior Secured Notes contain certain customary incurrence-based covenants. For example, the ability to raise certain additional debt and make certain distributions or loans to other subsidiaries of Liberty Global is subject to a Consolidated Leverage Ratio test, as defined in the indenture. | |||||||||||||||||||||||||||
Subject to the circumstances described below, the April 2013 UM Senior Secured Notes are non-callable until April 15, 2018. At any time prior to April 15, 2018 the UM Senior Secured Notes Issuers may redeem some or all of the April 2013 UM Senior Secured Notes by paying a “make-whole” premium, which is the present value of all remaining scheduled interest payments to the redemption date using the discount rate (as specified in the indenture) as of the redemption date plus 50 basis points. | |||||||||||||||||||||||||||
The UM Senior Secured Notes Issuers may redeem some or all of the April 2013 UM Senior Secured Notes at the following redemption prices (expressed as a percentage of the principal amount) plus accrued and unpaid interest and Additional Amounts (as defined in the indenture), if any, to the redemption date, if redeemed during the twelve-month period commencing on April 15 of the years set forth below: | |||||||||||||||||||||||||||
Year | Redemption | ||||||||||||||||||||||||||
price | |||||||||||||||||||||||||||
2018 | 102.81% | ||||||||||||||||||||||||||
2019 | 101.88% | ||||||||||||||||||||||||||
2020 | 100.94% | ||||||||||||||||||||||||||
2021 and thereafter | 100.00% | ||||||||||||||||||||||||||
In addition, at any time prior to April 15, 2016, the UM Senior Secured Notes Issuers may redeem up to 40% of the April 2013 UM Senior Secured Notes (at redemption prices of 105.625%) with the net proceeds from one or more specified equity offerings. | |||||||||||||||||||||||||||
The UM Senior Secured Notes Issuers may redeem all of the April 2013 UM Senior Secured Notes at prices equal to their respective principal amounts, plus accrued and unpaid interest, upon the occurrence of certain changes in tax law. If the UM Senior Secured Notes Issuers or certain of Unitymedia KabelBW’s subsidiaries sell certain assets or experience specific changes in control, the UM Senior Secured Notes Issuers must offer to repurchase the April 2013 UM Senior Secured Notes at a redemption price of 101%. | |||||||||||||||||||||||||||
Ziggo Margin Loan | |||||||||||||||||||||||||||
On April 26, 2013, LGE HoldCo entered into the Ziggo Margin Loan with a financial institution. The Ziggo Margin Loan provides for the ability of LGE HoldCo to incur debt through additional facilities, which could be used to fund purchases of additional Ziggo shares up to a maximum of 48.0 million in the aggregate across all facilities. Any amounts borrowed under the Ziggo Margin Loan can be used for general corporate purposes, including distributions and/or loans to other subsidiaries of Liberty Global. Any drawdown under the Ziggo Margin Loan is subject to the satisfaction of certain customary conditions precedent. The Ziggo Margin Loan does not contain any financial covenants and provides for certain adjustment events and customary events of default. The Ziggo Margin Loan includes various lender early termination events (which are subject to materiality and other thresholds), including with respect to delisting of the Ziggo shares, changes to the Ziggo share price and average daily trading volume of the Ziggo shares over a 30-day period and a change of control of LGE HoldCo. | |||||||||||||||||||||||||||
The Ziggo Margin Loan is secured by a pledge agreement over Ziggo shares owned by LGE HoldCo, which provides that LGE HoldCo, prior to an Enforcement Event (as defined in the Ziggo Margin Loan), will be able to exercise voting and consensual rights subject to the terms of the Ziggo Margin Loan, and receive dividends on the Ziggo shares subject to compliance with certain loan to value ratios. | |||||||||||||||||||||||||||
The initial facility under the Ziggo Margin Loan provides for borrowings of up to 65.0% of the value of the Ziggo shares pledged on the date prior to the date of utilization. The initial facility matures on April 26, 2016, and bears interest at a rate of EURIBOR plus 2.85% per annum. In addition to the lender early termination events described above, there is also a requirement for repayment of the initial facility if the loan-to-value ratio is equal to or greater than 80.0% (after taking into account any cash collateral deposited on account for the lenders). On May 30, 2013, the full amount of the initial tranche of the Ziggo Margin Loan was drawn, in the amount of €460.0 million ($622.4 million), and secured with a pledge of 25,300,000 Ziggo shares. On July 24, 2013, we pledged an additional 2,000,000 Ziggo shares as security for the Ziggo Margin Loan. | |||||||||||||||||||||||||||
For information regarding our investment in Ziggo, see note 3. | |||||||||||||||||||||||||||
Maturities of Debt and Capital Lease Obligations | |||||||||||||||||||||||||||
The U.S. dollar equivalents of the maturities of our debt and capital lease obligations as of September 30, 2013 are presented below for the named entity and its subsidiaries, unless otherwise noted: | |||||||||||||||||||||||||||
Debt: | |||||||||||||||||||||||||||
Virgin Media | UPC | Unitymedia KabelBW | Telenet (b) | Other (c) | Total | ||||||||||||||||||||||
Holding (a) | |||||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||||
Year ending December 31: | |||||||||||||||||||||||||||
2013 (remainder of year) | $ | 54.8 | $ | 21.4 | $ | 4.8 | $ | 10 | $ | 149.9 | $ | 240.9 | |||||||||||||||
2014 | — | 282.7 | 26.6 | 10 | 59.3 | 378.6 | |||||||||||||||||||||
2015 | — | 150.2 | — | 10 | 187.7 | 347.9 | |||||||||||||||||||||
2016 | — | 738.2 | — | 145.3 | 1,446.30 | 2,329.80 | |||||||||||||||||||||
2017 | — | — | 603.5 | 593.2 | 1,106.30 | 2,303.00 | |||||||||||||||||||||
2018 | 2,416.00 | 400 | — | 246.8 | 349.3 | 3,412.10 | |||||||||||||||||||||
Thereafter | 10,714.70 | 11,588.60 | 6,896.10 | 3,774.00 | — | 32,973.40 | |||||||||||||||||||||
Total debt maturities | 13,185.50 | 13,181.10 | 7,531.00 | 4,789.30 | 3,298.80 | 41,985.70 | |||||||||||||||||||||
Unamortized premium (discount) | 225.6 | (43.5 | ) | (10.7 | ) | 1.3 | (9.1 | ) | 163.6 | ||||||||||||||||||
Total debt | $ | 13,411.10 | $ | 13,137.60 | $ | 7,520.30 | $ | 4,790.60 | $ | 3,289.70 | $ | 42,149.30 | |||||||||||||||
Current portion | $ | 57.7 | $ | 304.1 | $ | 31.4 | $ | 10 | $ | 206.3 | $ | 609.5 | |||||||||||||||
Noncurrent portion | $ | 13,353.40 | $ | 12,833.50 | $ | 7,488.90 | $ | 4,780.60 | $ | 3,083.40 | $ | 41,539.80 | |||||||||||||||
_______________ | |||||||||||||||||||||||||||
(a) | Amounts include the UPCB SPE Notes issued by the UPCB SPEs. As described above, the UPCB SPEs are consolidated by UPC Holding. | ||||||||||||||||||||||||||
(b) | Amounts include the Telenet SPE Notes that were issued by certain special purpose entities (the Telenet SPEs) that were created for the primary purposes of facilitating the offering of certain senior secured notes (the Telenet SPE Notes). The proceeds from the Telenet SPE Notes were used to fund additional Telenet Facilities M, N, O, P, U and V (each a SPE Funded Facility), with Telenet International as the borrower. Each Telenet SPE is dependent on payments from Telenet International under the applicable SPE Funded Facility in order to service its payment obligations under its Telenet SPE Notes. Although Telenet International has no equity or voting interest in any of the Telenet SPEs, each of the SPE Funded Facility loans creates a variable interest in the respective Telenet SPE for which Telenet International is the primary beneficiary, as contemplated by GAAP. As such, Telenet International and its parent entities, including Telenet and Liberty Global, are required by the provisions of GAAP to consolidate the Telenet SPEs. | ||||||||||||||||||||||||||
(c) | As further described in note 6, we have reflected the CLP 59.4 billion ($117.7 million) principal amount due under the VTR Wireless Bank Facility in the current portion of debt and capital lease obligations in our condensed consolidated balance sheet as of September 30, 2013. | ||||||||||||||||||||||||||
Capital lease obligations: | |||||||||||||||||||||||||||
Unitymedia KabelBW | Telenet | Virgin Media | Other | Total | |||||||||||||||||||||||
in millions | |||||||||||||||||||||||||||
Year ending December 31: | |||||||||||||||||||||||||||
2013 (remainder of year) | $ | 24.9 | $ | 17.7 | $ | 62 | $ | 8.1 | $ | 112.7 | |||||||||||||||||
2014 | 99.4 | 68 | 150.3 | 13.3 | 331 | ||||||||||||||||||||||
2015 | 99.2 | 65 | 107.5 | 16.1 | 287.8 | ||||||||||||||||||||||
2016 | 99.2 | 63.4 | 58.6 | 13.5 | 234.7 | ||||||||||||||||||||||
2017 | 99.2 | 61.7 | 12.9 | 7.2 | 181 | ||||||||||||||||||||||
2018 | 99.2 | 58.3 | 4.5 | 3.5 | 165.5 | ||||||||||||||||||||||
Thereafter | 1,179.40 | 267.9 | 235.3 | 27 | 1,709.60 | ||||||||||||||||||||||
Total principal and interest payments | 1,700.50 | 602 | 631.1 | 88.7 | 3,022.30 | ||||||||||||||||||||||
Amounts representing interest | (759.5 | ) | (160.1 | ) | (228.8 | ) | (21.5 | ) | (1,169.9 | ) | |||||||||||||||||
Present value of net minimum lease payments | $ | 941 | $ | 441.9 | $ | 402.3 | $ | 67.2 | $ | 1,852.40 | |||||||||||||||||
Current portion | $ | 27.9 | $ | 49 | $ | 153.7 | $ | 14 | $ | 244.6 | |||||||||||||||||
Noncurrent portion | $ | 913.1 | $ | 392.9 | $ | 248.6 | $ | 53.2 | $ | 1,607.80 | |||||||||||||||||
Non-cash Refinancing Transactions | |||||||||||||||||||||||||||
During the nine months ended September 30, 2013 and 2012, certain of our refinancing transactions included non-cash borrowings and repayments of debt aggregating $5,061.5 million and $3,461.5 million, respectively. We also recorded a $3,557.5 million non-cash increase to our debt as a result of certain financing transactions completed in contemplation of the Virgin Media Acquisition. For additional information, see note 2. |
Income_Taxes
Income Taxes | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||||||
Income Taxes | ' | |||||||||||||||
Income Taxes | ||||||||||||||||
Income tax expense attributable to our earnings (loss) from continuing operations before income taxes differs from the amounts computed using the applicable income tax rate as a result of the following: | ||||||||||||||||
Three months ended | Nine months ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
in millions | ||||||||||||||||
Computed “expected” tax benefit (expense) (a) | $ | 136.3 | $ | (19.4 | ) | $ | 79.5 | $ | 50.3 | |||||||
Enacted tax law and rate changes (b) | (371.0 | ) | 9.8 | (379.7 | ) | 9.6 | ||||||||||
Change in subsidiary tax attributes due to a deemed change in control | 6.7 | — | (84.7 | ) | — | |||||||||||
Non-deductible or non-taxable interest and other expenses | (1.7 | ) | (19.8 | ) | (84.4 | ) | (56.7 | ) | ||||||||
International rate differences (c) | 8.7 | 2.1 | 51.1 | (17.0 | ) | |||||||||||
Tax effect of intercompany financing | 33.8 | — | 41.2 | — | ||||||||||||
Non-deductible or non-taxable foreign currency exchange results | (39.6 | ) | 0.7 | (29.4 | ) | (0.9 | ) | |||||||||
Basis and other differences in the treatment of items associated with investments in subsidiaries and affiliates | 1.6 | (21.5 | ) | (27.6 | ) | (27.5 | ) | |||||||||
Change in valuation allowances | (19.8 | ) | (11.0 | ) | (20.3 | ) | (54.3 | ) | ||||||||
Other, net | 16.2 | (2.0 | ) | 9.1 | (9.5 | ) | ||||||||||
Total | $ | (228.8 | ) | $ | (61.1 | ) | $ | (445.2 | ) | $ | (106.0 | ) | ||||
_______________ | ||||||||||||||||
(a) | As a result of the Virgin Media Acquisition, pursuant to which Liberty Global became the publicly-held parent company of the successors by merger of LGI and Virgin Media, our statutory tax rate changed from the U.S. federal income tax rate of 35% to the U.K. statutory income tax rate of 23%. Accordingly, the statutory or “expected” tax rates are 23% for the 2013 periods and 35% for the 2012 periods. | |||||||||||||||
(b) | During the first quarter of 2013, it was announced that the U.K. corporate income tax rate will change to 21% in April 2014 and 20% in April 2015. This change in law was enacted in July 2013, and accordingly, amounts presented for the 2013 periods reflect the impact of these future rate changes. | |||||||||||||||
(c) | Amounts reflect statutory rates in jurisdictions in which we operate outside of the U.K. for the 2013 periods and outside of the U.S. for the 2012 periods. | |||||||||||||||
The significant components of our tax loss carryforwards and related tax assets at September 30, 2013 are as follows: | ||||||||||||||||
Country | Tax loss | Related | Expiration | |||||||||||||
carryforward | tax asset | date | ||||||||||||||
in millions | ||||||||||||||||
U.K. | $ | 22,329.20 | $ | 4,465.80 | Indefinite | |||||||||||
Germany | 3,052.90 | 481 | Indefinite | |||||||||||||
The Netherlands | 2,960.60 | 740.2 | 2013-2022 | |||||||||||||
U.S. | 1,805.90 | 632.7 | 2014-2033 | |||||||||||||
Luxembourg | 1,062.60 | 310.5 | Indefinite | |||||||||||||
France | 658.1 | 226.6 | Indefinite | |||||||||||||
Ireland | 542.1 | 67.8 | Indefinite | |||||||||||||
Belgium | 340.9 | 115.9 | Indefinite | |||||||||||||
Hungary | 321.1 | 61 | Indefinite | |||||||||||||
Chile | 270.2 | 54 | Indefinite | |||||||||||||
Romania | 83.6 | 13.4 | 2016-2020 | |||||||||||||
Puerto Rico | 51.6 | 20.1 | 2018-2024 | |||||||||||||
Spain | 20.3 | 6.1 | 2023-2028 | |||||||||||||
Other | 38 | 8.3 | Various | |||||||||||||
Total | $ | 33,537.10 | $ | 7,203.40 | ||||||||||||
Net operating losses (NOLs) arising from the deduction of share-based compensation are not included in the above table. These NOLs, which aggregated $154.2 million at September 30, 2013, will not be recognized for financial reporting purposes until such time as these tax benefits can be realized as a reduction of income taxes payable. | ||||||||||||||||
Our tax loss carryforwards within each jurisdiction combine all companies’ tax losses (both capital and ordinary losses) in that jurisdiction, however, certain tax jurisdictions limit the ability to offset taxable income of a separate company or different tax group with the tax losses associated with another separate company or group. The majority of the tax losses shown in the above table are not expected to be realized, including certain losses that are limited in use due to change in control or same business tests. | ||||||||||||||||
At September 30, 2013, Virgin Media had property and equipment on which future U.K. tax deductions can be claimed of $21.6 billion. The maximum amount of these “capital allowances” that can be claimed in any one year is 18% of the remaining balance, after additions, disposals and prior claims. Amounts related to these “capital allowances” are not included in the above table. | ||||||||||||||||
The changes in our unrecognized tax benefits are summarized below: | ||||||||||||||||
Nine months ended | ||||||||||||||||
September 30, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
in millions | ||||||||||||||||
Balance at January 1 | $ | 359.7 | $ | 400.6 | ||||||||||||
Additions based on tax positions related to the current year | 80.9 | 9.1 | ||||||||||||||
Additions for tax positions of prior years | 45.8 | 5 | ||||||||||||||
Reductions for tax positions of prior years | (10.1 | ) | (107.1 | ) | ||||||||||||
Foreign currency translation | 4.6 | 0.7 | ||||||||||||||
Lapse of statue of limitations | (0.9 | ) | (0.6 | ) | ||||||||||||
Balance at September 30 | $ | 480 | $ | 307.7 | ||||||||||||
No assurance can be given that any of these tax benefits will be recognized or realized. | ||||||||||||||||
As of September 30, 2013, our unrecognized tax benefits included $341.9 million of tax benefits that would have a favorable impact on our effective income tax rate if ultimately recognized, after considering amounts that we would expect to be offset by valuation allowances. | ||||||||||||||||
During the next twelve months, it is reasonably possible that the resolution of currently ongoing examinations by tax authorities could result in significant changes to our unrecognized tax benefits related to tax positions taken as of September 30, 2013. In this regard, (i) we expect to record an estimated $20 million to $30 million reduction during the first quarter of 2014 related to the confirmation of the amount of a deduction taken in a prior year and (ii) further significant reductions are possible prior to the end of 2013, the amount of which cannot be reasonably estimated at this time. Other than these issues, we do not expect that any changes in our unrecognized tax benefits during the next twelve months will have a material impact on our unrecognized benefits. No assurance can be given as to the nature or impact of any changes in our unrecognized tax positions during the next twelve months. |
Equity
Equity | 9 Months Ended |
Sep. 30, 2013 | |
Equity [Abstract] | ' |
Equity | ' |
Equity | |
Stock Repurchases | |
During the first nine months of 2013, we purchased a total of 5,606,930 shares of our Liberty Global Class A ordinary shares or LGI Series A common stock at a weighted average price of $73.15 per share and a total of 6,387,900 shares of our Liberty Global Class C ordinary shares or LGI Series C common stock at a weighted average price of $71.60 per share, for an aggregate purchase price of $867.5 million, including direct acquisition costs. | |
As a U.K. incorporated company, we may only elect to repurchase shares or pay dividends to the extent of our “Distributable Reserves.” Distributable Reserves, which are not linked to a GAAP reported amount, may be created through the earnings of the U.K. parent company and, amongst other methods, through a reduction in share premium approved by the English Companies Court. On June 19, 2013, we received approval from the English Companies Court to reduce our share premium and in connection with that approval, we recognized Distributable Reserves of approximately $29.0 billion. | |
On June 11, 2013, we announced that our board of directors authorized a new $3.5 billion stock repurchase program, which effectively replaced our previous repurchase program. Under the new repurchase program, we may acquire from time to time our Class A ordinary shares, Class C ordinary shares, or any combination of Class A and Class C ordinary shares. Share repurchases may be effected through open market transactions and/or privately negotiated transactions, which may include derivative transactions. The timing of the repurchase of shares pursuant to our repurchase program will depend on a variety of factors, including market conditions and applicable law. The repurchase program may be implemented in conjunction with brokers and other financial institutions with whom we have relationships within certain pre-set parameters and purchases may continue during closed periods in accordance with applicable restrictions. The repurchase program may be suspended or discontinued at any time. As of September 30, 2013, the remaining amount authorized under our most recent stock repurchase program was $2,804.9 million. | |
Call Option Contracts | |
During the first quarter of 2013, we entered into a number of call option contracts pursuant to which we contemporaneously (i) sold call options on 1,000,000 shares of LGI Series A common stock at exercise prices ranging from $64.56 per share to $70.33 per share and (ii) purchased call options on an equivalent number of shares of LGI Series A common stock with an exercise price of zero. The aggregate call price that we paid to enter into these contracts was $66.3 million. These contracts, which can result in the receipt of cash or shares, were settled during the first quarter of 2013 through the receipt of $40.3 million of cash and 400,000 shares of LGI Series A common stock. Shares acquired through the exercise of the call options are included in our share repurchases and the net gain on cash settled contracts is recorded in additional paid-in capital. | |
During the period from June 7, 2013 through June 20, 2013, we entered into a number of call option contracts pursuant to which we contemporaneously (i) sold call options on 1,512,000 shares of Liberty Global Class A and Class C ordinary shares with exercise prices of $100.00 per share and (ii) purchased call options on an equivalent number of shares of Liberty Global Class A ordinary shares with exercise prices of zero. The aggregate call price that we paid to enter into these contracts was $106.9 million. These call option contracts had default cash settlement terms and, at our election, share settle terms. We initially accounted for the call option contracts as derivative financial instruments as we were unable to elect the share settlement option until Distributable Reserves were created. When the Distributable Reserves were created on June 19, 2013, the derivative asset at that date of $102.2 million was reclassified to additional paid-in capital. The difference between the premium paid and the asset reclassified to equity resulted in a $4.7 million loss that is included in realized and unrealized gains (losses) on derivative instruments, net, in our condensed consolidated statements of operations. All of these call option contracts, which expired from June 26, 2013 through July 5, 2013, were settled in shares. | |
During the period from June 21, 2013 to September 30, 2013, we entered into a number of call option contracts pursuant to which we contemporaneously (i) sold call options on 3,150,915 shares of Liberty Global Class A ordinary shares at exercise prices ranging from $69.66 per share to $81.71 per share and (ii) purchased call options on an equivalent number of shares of Liberty Global Class A ordinary shares with an exercise price of zero. The aggregate call price that we paid to enter into these contracts was $234.0 million. Contracts with respect to 2,160,208 shares were settled through the receipt of $131.4 million of cash and 377,930 Liberty Global Class A ordinary shares during the third quarter of 2013 and the remainder will be settled during the fourth quarter of 2013. | |
Treasury Shares | |
Prior to the Virgin Media Acquisition, participating executives and other key employees of Virgin Media in the U.K. purchased, at fair value, jointly-held interests in a grantor trust that held shares of Virgin Media’s stock. On June 7, 2013, (i) the Virgin Media shares held by the Virgin Media grantor trust were transferred to a new grantor trust that was then owned by the same participating Virgin Media executives and key employees (the Liberty Global JSOP) and (ii) the Liberty Global JSOP received consideration in connection with the Virgin Media Acquisition of (a) 155,719 Class A ordinary shares, (b) 116,277 Class C ordinary shares and (c) $10.6 million in cash. Whereas the Liberty Global JSOP represents a variable interest entity for which we are the primary beneficiary, we are required by the provisions of GAAP to consolidate the Liberty Global JSOP. Accordingly, the cash held by the Liberty Global JSOP is classified as noncurrent restricted cash and the Liberty Global ordinary shares held by the Liberty Global JSOP are reflected as treasury shares, at cost, in our condensed consolidated balance sheet. The cost of these treasury shares is based on the applicable June 7, 2013 closing market prices of our Class A and Class C ordinary shares. | |
During the third quarter of 2013, certain participants exercised a portion of their interests in the Liberty Global JSOP, resulting in an aggregate distribution of (i) 67,283 Class A ordinary shares, (ii) 50,328 Class C ordinary shares and (iii) $1.5 million in cash. | |
The Liberty Global JSOP trustee will return to us any cash or shares underlying awards that do not vest, and will return any dividends on the shares in the trust to our company until the awards are exercised. The Liberty Global JSOP trustee will vote shares in the trust in proportion to the votes of other shareholders of Liberty Global until the awards vest. | |
Other | |
Telenet Tender. On December 17, 2012, following approval by the Belgian Financial Services and Markets Authority, Binan Investments B.V. (Binan), our wholly-owned subsidiary, launched a voluntary and conditional cash public offer (the Telenet Tender) for (i) all of Telenet’s issued shares that Binan did not already own or that were not held by Telenet (the Telenet Bid Shares) and (ii) certain outstanding vested and unvested employee warrants (the Telenet Bid Warrants). In connection with the launch of the Telenet Tender, we were required to place €1,142.5 million ($1,464.1 million at the transaction date) of cash into a restricted account to secure a portion of the aggregate offer consideration that was not secured by a €925.0 million ($1,251.7 million) facility agreement entered into in October 2012 in anticipation of the Telenet Tender. No borrowings were made under this facility agreement and it was cancelled in January 2013. Pursuant to the Telenet Tender, which was completed on February 1, 2013, we acquired (i) 9,497,637 of the Telenet Bid Shares, increasing our ownership interest in Telenet’s issued and outstanding shares at such date to 58.4%, and (ii) 3,000 of the Telenet Bid Warrants. On February 1, 2013, we used €332.5 million ($454.5 million at the transaction date) from the above-described restricted cash account to fund the Telenet Tender and the remaining amount was released from restrictions. | |
As we owned a controlling financial interest in Telenet prior to the launch of the Telenet Tender, we accounted for the impact of the acquisition of the additional Telenet shares as an equity transaction. | |
Telenet Distribution. On April 24, 2013, Telenet’s shareholders approved (i) a shareholder return in the form of a cash dividend of €900.0 million ($1,217.9 million), representing €7.90 ($10.69) per share based on Telenet’s outstanding shares as of that date, and (ii) a share repurchase program of up to €50.0 million ($67.7 million). Our share of the cash dividend, which was received on May 8, 2013, was €524.1 million ($690.3 million at the applicable rate) and the noncontrolling interest owners’ share was €381.3 million ($502.2 million at the applicable rate). | |
VTR Distributions. On February 6, 2013 and September 12, 2013, we and the 20% noncontrolling interest owner in VTR (the VTR NCI Owner) approved distributions of CLP 50.0 billion ($105.8 million at the applicable rate) and CLP 29.0 billion ($57.6 million at the applicable rate), respectively. The VTR NCI Owner’s share of these distributions is CLP 10.0 billion ($21.2 million at the applicable rate) and CLP 5.8 billion ($11.5 million at the applicable rate), respectively. During the nine months ended September 30, 2013, VTR paid CLP 49.5 billion ($101.4 million at the applicable rate) of the February 6, 2013 distribution and we expect that the balance of this distribution and the full amount of the September 12, 2013 distribution will be paid during the fourth quarter of 2013. | |
Contributions to VTR Wireless. We and the VTR NCI Owner have agreed to proportionately fund, as required, the capital calls of VTR Wireless. During the nine months ended September 30, 2013, we and the VTR NCI Owner made capital contributions to VTR Wireless of CLP 30.8 billion ($63.9 million at the applicable rate) and CLP 7.7 billion ($16.0 million at the applicable rate), respectively. |
Sharebased_Compensation
Share-based Compensation | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
Share-based Compensation | ' | |||||||||||||||
Share-based Compensation | ||||||||||||||||
Our share-based compensation expense is based on the share-based incentive awards held by our and our subsidiaries’ employees, including share-based incentive awards related to Liberty Global shares and the shares of certain of our subsidiaries. The following table summarizes our share-based compensation expense: | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
in millions | ||||||||||||||||
Liberty Global shares: | ||||||||||||||||
Performance-based incentive awards (a) | $ | 12.6 | $ | 11.1 | $ | 24.5 | $ | 29.5 | ||||||||
Other share-based incentive awards | 79.1 | 11.4 | 140.1 | 34.2 | ||||||||||||
Total Liberty Global shares (b) | 91.7 | 22.5 | 164.6 | 63.7 | ||||||||||||
Telenet share-based incentive awards (c) | 4.9 | 4.4 | 52.4 | 25.2 | ||||||||||||
Other | 2.1 | 0.3 | 2.4 | 1.6 | ||||||||||||
Total | $ | 98.7 | $ | 27.2 | $ | 219.4 | $ | 90.5 | ||||||||
Included in: | ||||||||||||||||
Operating expense | $ | 0.8 | $ | 1.1 | $ | 10.7 | $ | 6.3 | ||||||||
SG&A expense | 97.9 | 26.1 | 208.7 | 84.2 | ||||||||||||
Total | $ | 98.7 | $ | 27.2 | $ | 219.4 | $ | 90.5 | ||||||||
_______________ | ||||||||||||||||
(a) | Primarily includes share-based compensation expense related to Liberty Global performance-based restricted share units (PSUs). | |||||||||||||||
(b) | In accordance with the terms of the Virgin Media Merger Agreement, we issued Liberty Global share-based incentive awards (Virgin Media Replacement Awards) to employees and former directors of Virgin Media in exchange for corresponding Virgin Media awards. In connection with the Virgin Media Acquisition, the Virgin Media Replacement Awards were remeasured as of June 7, 2013, resulting in an aggregate estimated fair value attributable to the post-acquisition period of $188.5 million. During the second and third quarters of 2013, Virgin Media recorded share-based compensation expense of $35.9 million and $61.6 million, respectively, primarily related to the Virgin Media Replacement Awards, including $27.5 million and $35.4 million, respectively, that was charged to expense in recognition of the Virgin Media Replacement Awards that were fully vested on June 7, 2013 or for which vesting was accelerated pursuant to the terms of the Virgin Media Merger Agreement on or prior to September 30, 2013. The remaining June 7, 2013 estimated fair value will be amortized over the remaining service periods of the unvested Virgin Media Replacement Awards, subject to forfeitures and the satisfaction of performance conditions. | |||||||||||||||
(c) | During the second quarters of 2013 and 2012, Telenet modified the terms of certain of its share-based incentive plans to provide for anti-dilution adjustments in connection with its shareholder returns. In connection with these anti-dilution adjustments, Telenet recognized share-based compensation expense of $32.7 million and $12.6 million, respectively. In addition, during the first quarter of 2013, Telenet recognized expense of $6.2 million related to the accelerated vesting of options granted under the Telenet 2010 Specific Stock Option Plan, as further described below. | |||||||||||||||
The following table provides certain information related to share-based compensation not yet recognized for share incentive awards related to Liberty Global ordinary shares and Telenet ordinary shares as of September 30, 2013: | ||||||||||||||||
Liberty Global ordinary shares (a) | Liberty Global | Telenet ordinary shares (b) | ||||||||||||||
performance-based awards | ||||||||||||||||
Total compensation expense not yet recognized (in millions) | $ | 196.5 | $ | 133.4 | $ | 14.2 | ||||||||||
Weighted average period remaining for expense recognition (in years) | 2.2 | 2.4 | 2.2 | |||||||||||||
_______________ | ||||||||||||||||
(a) | Amounts relate to awards granted or assumed by Liberty Global under (i) the Liberty Global, Inc. 2005 Incentive Plan (as amended and restated effective June 7, 2013) (the Liberty Global Incentive Plan), (ii) the Liberty Global, Inc. 2005 Nonemployee Director Incentive Plan (as amended and restated effective June 7, 2013) (the Liberty Global Director Incentive Plan), (iii) the Virgin Media Inc. 2010 Stock Incentive Plan (as amended and restated effective June 7, 2013) (the VM Incentive Plan) and (iv) certain other incentive plans of Virgin Media pursuant to which awards may no longer be granted. The Liberty Global Incentive Plan had 195,475 shares available for grant as of September 30, 2013 and the VM Incentive Plan had 11,603,628 shares available for grant as of September 30, 2013. These shares may be awarded in any class of our ordinary shares. The Liberty Global Director Incentive Plan had 8,815,685 shares available for grant as of September 30, 2013. These shares may be awarded in any class of our ordinary shares, except that no more than five million shares may be awarded in Class B ordinary shares. | |||||||||||||||
(b) | Amounts relate to various equity incentive awards granted to employees of Telenet. | |||||||||||||||
The following table summarizes certain information related to the incentive awards granted and exercised with respect to Liberty Global ordinary shares. | ||||||||||||||||
Nine months ended | ||||||||||||||||
September 30, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Assumptions used to estimate fair value of options, share appreciation rights (SARs) and performance-based share appreciation rights (PSARs) granted: | ||||||||||||||||
Risk-free interest rate | 0.36 - 1.27% | 0.37 - 1.68% | ||||||||||||||
Expected life (a) | 2.8 - 7.1 years | 3.3 - 7.9 years | ||||||||||||||
Expected volatility (a) | 26.2 - 35.8% | 31.5 - 40.4% | ||||||||||||||
Expected dividend yield | none | none | ||||||||||||||
Weighted average grant-date fair value per share awards granted: | ||||||||||||||||
Options | $ | 22.19 | $ | 20 | ||||||||||||
SARs | $ | 16.71 | $ | 14.36 | ||||||||||||
PSARs | $ | 16.62 | $ | — | ||||||||||||
Restricted shares and restricted share units (RSUs) | $ | 71.47 | $ | 49.1 | ||||||||||||
PSUs | $ | 69.88 | $ | 50.18 | ||||||||||||
Total intrinsic value of awards exercised (in millions): | ||||||||||||||||
Options | $ | 114.9 | $ | 32.4 | ||||||||||||
SARs | $ | 59.6 | $ | 38 | ||||||||||||
Cash received from exercise of options (in millions) | $ | 57.2 | $ | 22.4 | ||||||||||||
Income tax benefit related to share-based compensation (in millions) | $ | 33.3 | $ | 13.7 | ||||||||||||
_______________ | ||||||||||||||||
(a) | The ranges shown for these assumptions exclude the awards for certain former employees of Virgin Media who were expected to exercise their awards immediately or soon after the Virgin Media Acquisition. For these awards, the assumptions used for expected life and volatility were essentially nil. | |||||||||||||||
Liberty Global Challenge Performance Awards | ||||||||||||||||
Effective June 24, 2013, our compensation committee approved a new challenge performance award plan for certain executive officers and key employees (the Challenge Performance Awards). The Challenge Performance Awards for our senior executive officers consist solely of 3,475,000 PSARs and the Challenge Performance Awards for our other executive officers and key employees consist of a combination of 2,422,500 PSARs and 269,450 PSUs, in each case divided equally between Challenge Performance Awards based on Class A ordinary shares and Challenge Performance Awards based on Class C ordinary shares. Through September 30, 2013, we have granted Challenge Performance Awards consisting of 5,792,500 PSARs and 257,900 PSUs, most of which were granted on June 24, 2013. Each PSU represents the right to receive one Class A ordinary share or one Class C ordinary share, as applicable, subject to performance and vesting. The performance criteria for the Challenge Performance Awards will be based on the compensation committee’s assessment of the participant’s performance and achievement of individual goals in each of the years 2013, 2014 and 2015. As the performance measure, the compensation committee selected high levels of individual performance that must be maintained throughout the performance period based on our company’s internal annual performance rating guidelines. In the event the performance level maintained by a participant falls below a specified threshold, the compensation committee may reduce by up to 100% the amount of such participant's Challenge Performance Awards. Subject to forfeitures and the satisfaction of performance conditions, 100% of each participant’s Challenge Performance Awards will vest on June 24, 2016. | ||||||||||||||||
The PSARs have a term of seven years and base prices equal to the respective market closing prices of the applicable class on the grant date. | ||||||||||||||||
Liberty Global PSUs | ||||||||||||||||
Effective April 1, 2013, our compensation committee granted to our executive officers and certain key employees a total of 307,278 Class A PSUs and 307,278 Class C PSUs pursuant to the Liberty Global Incentive Plan. In addition, pursuant to the terms of the Virgin Media Merger Agreement and effective June 24, 2013, our compensation committee granted to certain key employees of Virgin Media a total of 123,801 Class A PSUs and 92,389 Class C PSUs pursuant to the VM Incentive Plan. Each PSU represents the right to receive one Class A or Class C ordinary share, as applicable, subject to performance and vesting. The performance period for these PSUs (the 2013 PSUs) is January 1, 2013 to December 31, 2014. As the performance measure, the compensation committee selected the compound annual growth rate in consolidated operating cash flow (OCF CAGR) from 2012 to 2014, as adjusted for events such as acquisitions, dispositions and changes in foreign currency exchange rates and accounting principles or policies that effect comparability. The target OCF CAGR selected by the committee was based upon a comparison of our 2012 actual results to those reflected in our then existing long-range plan for 2014. The target OCF CAGR is subject to upward or downward adjustment for certain events in accordance with the terms of the grant agreement. A performance range of 75% to 125% of the target OCF CAGR would generally result in award recipients earning 50% to 150% of their 2013 PSUs, subject to reduction or forfeiture based on individual performance. One-half of the earned 2013 PSUs will vest on March 31, 2015 and the balance will vest on September 30, 2015. The compensation committee also established a minimum OCF CAGR base performance objective, subject to certain limited adjustments, which must be satisfied in order for our named executive officers to be eligible to earn any of their 2013 PSUs. | ||||||||||||||||
During 2011, the compensation committee approved the grant to our executive officers and certain key employees of a total of 513,268 Class A PSUs and 513,268 Class C PSUs pursuant to the Liberty Global Incentive Plan. The performance period for these PSUs (the 2011 PSUs) was January 1, 2011 to December 31, 2012. One-half of the earned 2011 PSUs were originally scheduled to vest on March 31, 2013 and the remaining 2011 PSUs were originally scheduled to vest on September 30, 2013. On December 31, 2012, the compensation committee certified that the base performance objective for the two-year performance period had been achieved and approved (i) the acceleration of the vesting of 173,612 of the then outstanding 2011 PSUs from March 31, 2013 to December 31, 2012 and (ii) the issuance of 173,622 restricted share awards with a vesting date of September 30, 2013 in exchange for a corresponding number of the 2011 PSUs. The number of the 2011 PSUs that vested on December 31, 2012, and the number of restricted share awards that were issued on that date, were based on the compensation committee’s preliminary assessment that an OCF CAGR of 5.1% would be achieved with respect to the 2011 PSUs, resulting in an expectation that award recipients would earn approximately 91% of their 2011 PSUs. On March 18, 2013, the compensation committee finalized its assessment, concluding that award recipients had earned 93.5% of their 2011 PSUs. As a result, in addition to the 173,612 2011 PSUs that vested and the 173,622 restricted share awards that were issued on December 31, 2012, as described above, 236,810 2011 PSUs vested on March 31, 2013 and April 6, 2013, and 246,374 2011 PSUs vested on September 30, 2013. | ||||||||||||||||
Virgin Media Incentive Awards | ||||||||||||||||
Equity awards were granted to employees of Virgin Media prior to the Virgin Media Acquisition under certain incentive plans maintained and administered by Virgin Media and, except with respect to the VM Incentive Plan, no new grants will be made under these incentive plans. The equity awards granted include stock options, restricted shares, RSUs and performance awards. | ||||||||||||||||
VM Incentive Plan. In connection with the Virgin Media Acquisition, we assumed the VM Incentive Plan. The VM Incentive Plan is administered by the compensation committee of our board of directors. The compensation committee has full power and authority to grant eligible persons the awards described below and to determine the terms and conditions under which any awards are made. The VM Incentive Plan is designed to provide additional remuneration to, and to encourage share ownership by, employees of Virgin Media and its divisions and subsidiary corporations and certain of our employees. Individuals who are employees of Virgin Media or any of its subsidiaries, or individuals who become employees of our company or any of our subsidiaries following June 7, 2013, are eligible to receive awards under the VM Incentive Plan. In addition, under an appendix to the VM Incentive Plan, Liberty Global may provide additional remuneration to independent contractors. The compensation committee may grant options, SARs, restricted shares, RSUs, share awards, performance awards or any combination of the foregoing under the VM Incentive Plan. All awards granted under the VM Incentive Plan must be settled in Liberty Global ordinary shares only. Under an appendix to the VM Incentive Plan, the compensation committee may grant awards that are payable in cash or a combination of cash and ordinary shares. The VM Incentive Plan provides for the ability of the compensation committee to adopt sub plans for tax-efficient grants to U.K. residents. | ||||||||||||||||
Under the VM Incentive Plan, no person may be granted in any calendar year awards covering more than 2,880,000 ordinary shares. Ordinary shares of Liberty Global issuable pursuant to awards made under the VM Incentive Plan will be fully paid and, to the extent permitted by the laws of England and Wales, made available from either ordinary shares acquired by or gifted to Liberty Global, newly allotted and issued ordinary shares, or ordinary shares acquired by or issued or gifted to the trustees of an employee benefit trust established in connection with the VM Incentive Plan. | ||||||||||||||||
Awards under the VM Incentive Plan issued prior to June 7, 2013 had a ten-year term and become fully exercisable within five years of continued employment. Certain performance-based awards that were granted during the first quarter of 2013 were cancelled upon completion of the Virgin Media Acquisition. These cancelled awards were subsequently replaced by 2013 PSUs that were granted under the VM Incentive Plan on June 24, 2013, as further described above. For the remaining performance-based awards that were outstanding prior to June 7, 2013, the performance objectives lapsed upon the completion of the Virgin Media Acquisition and such awards will vest on the third anniversary of the grant date. Awards (other than performance-based awards) granted under the VM Incentive Plan after June 7, 2013 generally (i) vest 12.5% on the six month anniversary of the grant date and then vest at a rate of 6.25% each quarter thereafter and (ii) expire seven years after the grant date. The VM Incentive Plan had 11,603,628 ordinary shares available for grant as of September 30, 2013. These shares may be awarded in any class of Liberty Global ordinary shares. | ||||||||||||||||
Virgin Media Sharesave Option Grants. Under the Virgin Media Sharesave Plan, eligible employees of Virgin Media were entitled to receive options to purchase shares of Virgin Media common stock at a discount. Employees were invited to take out savings contracts that last for three years and at the end of the contract, employees may use the proceeds of these savings to exercise options granted under the Virgin Media Sharesave Plan. No new grants will be made under the Virgin Media Sharesave Plan. | ||||||||||||||||
Share-Based Award Activity — Liberty Global Ordinary Shares | ||||||||||||||||
The following tables summarize the share-based award activity during the nine months ended September 30, 2013 with respect to Liberty Global ordinary shares. In the following tables, the Virgin Media Replacement Awards represent the Liberty Global awards that were added as a result of the replacement of the outstanding Virgin Media stock incentive awards as of June 7, 2013 with share-based incentive awards of Liberty Global pursuant to the terms of the Virgin Media Merger Agreement. | ||||||||||||||||
Options — Class A ordinary shares | Number of | Weighted | Weighted | Aggregate | ||||||||||||
shares | average | average | intrinsic value | |||||||||||||
exercise price | remaining | |||||||||||||||
contractual | ||||||||||||||||
term | ||||||||||||||||
in years | in millions | |||||||||||||||
Outstanding at January 1, 2013 | 804,617 | $ | 25.9 | |||||||||||||
Virgin Media Replacement Awards | 3,934,574 | $ | 31.16 | |||||||||||||
Granted | 62,314 | $ | 73.66 | |||||||||||||
Cancelled | (72,793 | ) | $ | 76.15 | ||||||||||||
Exercised | (1,339,951 | ) | $ | 27.87 | ||||||||||||
Outstanding at September 30, 2013 | 3,388,761 | $ | 31.52 | 6.4 | $ | 162 | ||||||||||
Exercisable at September 30, 2013 | 1,785,646 | $ | 25.64 | 4.8 | $ | 95.9 | ||||||||||
Options — Class C ordinary shares | Number of | Weighted | Weighted | Aggregate | ||||||||||||
shares | average | average | intrinsic value | |||||||||||||
exercise price | remaining | |||||||||||||||
contractual | ||||||||||||||||
term | ||||||||||||||||
in years | in millions | |||||||||||||||
Outstanding at January 1, 2013 | 842,771 | $ | 24.59 | |||||||||||||
Virgin Media Replacement Awards | 2,935,250 | $ | 27.16 | |||||||||||||
Granted | 67,334 | $ | 68.16 | |||||||||||||
Cancelled | (54,347 | ) | $ | 71.4 | ||||||||||||
Exercised | (1,053,160 | ) | $ | 24.9 | ||||||||||||
Outstanding at September 30, 2013 | 2,737,848 | $ | 27.81 | 6.2 | $ | 130.4 | ||||||||||
Exercisable at September 30, 2013 | 1,507,738 | $ | 22.14 | 4.7 | $ | 80.3 | ||||||||||
SARs — Class A ordinary shares | Number of | Weighted | Weighted | Aggregate | ||||||||||||
shares | average | average | intrinsic value | |||||||||||||
base price | remaining | |||||||||||||||
contractual | ||||||||||||||||
term | ||||||||||||||||
in years | in millions | |||||||||||||||
Outstanding at January 1, 2013 | 3,761,337 | $ | 36.94 | |||||||||||||
Granted | 1,229,616 | $ | 74.35 | |||||||||||||
Forfeited | (27,288 | ) | $ | 46.76 | ||||||||||||
Exercised | (599,170 | ) | $ | 25.68 | ||||||||||||
Outstanding at September 30, 2013 | 4,364,495 | $ | 47.68 | 5 | $ | 131.8 | ||||||||||
Exercisable at September 30, 2013 | 1,682,668 | $ | 33.4 | 3.8 | $ | 76.5 | ||||||||||
SARs — Class C ordinary shares | Number of | Weighted | Weighted | Aggregate | ||||||||||||
shares | average | average | intrinsic value | |||||||||||||
base price | remaining | |||||||||||||||
contractual | ||||||||||||||||
term | ||||||||||||||||
in years | in millions | |||||||||||||||
Outstanding at January 1, 2013 | 3,786,754 | $ | 35.58 | |||||||||||||
Granted | 1,229,616 | $ | 69.13 | |||||||||||||
Forfeited | (27,288 | ) | $ | 44.9 | ||||||||||||
Exercised | (650,489 | ) | $ | 24.41 | ||||||||||||
Outstanding at September 30, 2013 | 4,338,593 | $ | 46.7 | 5 | $ | 123.9 | ||||||||||
Exercisable at September 30, 2013 | 1,656,766 | $ | 32.61 | 3.8 | $ | 70.2 | ||||||||||
PSARs — Class A ordinary shares | Number of | Weighted | Weighted | Aggregate | ||||||||||||
shares | average | average | intrinsic value | |||||||||||||
base price | remaining | |||||||||||||||
contractual | ||||||||||||||||
term | ||||||||||||||||
in years | in millions | |||||||||||||||
Outstanding at January 1, 2013 | — | $ | — | |||||||||||||
Granted | 2,896,250 | $ | 69.77 | |||||||||||||
Outstanding at September 30, 2013 | 2,896,250 | $ | 69.77 | 6.7 | $ | 27.8 | ||||||||||
Exercisable at September 30, 2013 | — | $ | — | — | $ | — | ||||||||||
PSARs — Class C ordinary shares | Number of | Weighted | Weighted | Aggregate | ||||||||||||
shares | average | average | intrinsic value | |||||||||||||
base price | remaining | |||||||||||||||
contractual | ||||||||||||||||
term | ||||||||||||||||
in years | in millions | |||||||||||||||
Outstanding at January 1, 2013 | — | $ | — | |||||||||||||
Granted | 2,896,250 | $ | 65.63 | |||||||||||||
Outstanding at September 30, 2013 | 2,896,250 | $ | 65.63 | 6.7 | $ | 28.4 | ||||||||||
Exercisable at September 30, 2013 | — | $ | — | — | $ | — | ||||||||||
Restricted shares and restricted share units — Class A ordinary shares | Number of | Weighted | Weighted | |||||||||||||
shares | average | average | ||||||||||||||
grant-date | remaining | |||||||||||||||
fair value | contractual | |||||||||||||||
per share | term | |||||||||||||||
in years | ||||||||||||||||
Outstanding at January 1, 2013 | 332,008 | $ | 40.53 | |||||||||||||
Virgin Media Replacement Awards (a) | 900,408 | $ | 76.24 | |||||||||||||
Granted | 128,958 | $ | 74.05 | |||||||||||||
Forfeited | (22,527 | ) | $ | 64.4 | ||||||||||||
Released from restrictions | (343,935 | ) | $ | 59.29 | ||||||||||||
Outstanding at September 30, 2013 | 994,912 | $ | 70.05 | 6.4 | ||||||||||||
Restricted shares and restricted share units — Class C ordinary shares | Number of | Weighted | Weighted | |||||||||||||
shares | average | average | ||||||||||||||
grant-date | remaining | |||||||||||||||
fair value | contractual | |||||||||||||||
per share | term | |||||||||||||||
in years | ||||||||||||||||
Outstanding at January 1, 2013 | 332,301 | $ | 39.13 | |||||||||||||
Virgin Media Replacement Awards (a) | 671,923 | $ | 71.51 | |||||||||||||
Granted | 128,958 | $ | 68.89 | |||||||||||||
Forfeited | (19,064 | ) | $ | 58.91 | ||||||||||||
Released from restrictions | (299,923 | ) | $ | 53.96 | ||||||||||||
Outstanding at September 30, 2013 | 814,195 | $ | 64.67 | 6 | ||||||||||||
______________ | ||||||||||||||||
(a) | The amounts shown as the grant-date fair values per share for these awards represent the June 7, 2013 market prices of the applicable LGI Series A or Series C common stock that were assigned to these awards when they were remeasured in connection with the Virgin Media Acquisition. | |||||||||||||||
PSUs — Class A ordinary shares | Number of | Weighted | Weighted | |||||||||||||
shares | average | average | ||||||||||||||
grant-date | remaining | |||||||||||||||
fair value | contractual | |||||||||||||||
per share | term | |||||||||||||||
in years | ||||||||||||||||
Outstanding at January 1, 2013 | 759,585 | $ | 46.54 | |||||||||||||
Granted | 579,634 | $ | 71.97 | |||||||||||||
Forfeited | (19,407 | ) | $ | 54.81 | ||||||||||||
Released from restrictions | (328,403 | ) | $ | 40.75 | ||||||||||||
Outstanding at September 30, 2013 | 991,409 | $ | 63.22 | 1.6 | ||||||||||||
PSUs — Class C ordinary shares | Number of | Weighted | Weighted | |||||||||||||
shares | average | average | ||||||||||||||
grant-date | remaining | |||||||||||||||
fair value | contractual | |||||||||||||||
per share | term | |||||||||||||||
in years | ||||||||||||||||
Outstanding at January 1, 2013 | 759,585 | $ | 44.68 | |||||||||||||
Granted | 548,222 | $ | 67.67 | |||||||||||||
Forfeited | (17,457 | ) | $ | 49.82 | ||||||||||||
Released from restrictions | (328,403 | ) | $ | 39.21 | ||||||||||||
Outstanding at September 30, 2013 | 961,947 | $ | 59.57 | 1.6 | ||||||||||||
Share-based Incentive Plans — Telenet Ordinary Shares | ||||||||||||||||
General. During the second quarter of 2013, Telenet modified the terms of certain of its share-based incentive plans to provide for anti-dilution adjustments in connection with a shareholder return in the form of a cash dividend that, as further described in note 9, was approved by Telenet shareholders on April 24, 2013. These anti-dilution adjustments, which were finalized on May 7, 2013, provided for increases in the number of options and warrants outstanding and proportionate reductions to the option and warrant exercise prices such that the fair value of the options and warrants outstanding before and after the distributions remained the same for all option and warrant holders. In connection with these anti-dilution adjustments, Telenet recognized share-based compensation expense of $32.7 million during the second quarter of 2013 and continues to recognize additional share-based compensation expense as the underlying options vest. | ||||||||||||||||
Telenet 2010 Specific Stock Option Plan. Telenet granted certain stock options to its former Chief Executive Officer under a specific stock option plan (the Telenet 2010 Specific Stock Option Plan). The following table summarizes the activity during the nine months ended September 30, 2013 related to the Telenet 2010 Specific Stock Option Plan: | ||||||||||||||||
Options — Telenet ordinary shares | Number of | Weighted | Weighted | Aggregate | ||||||||||||
shares | average | average | intrinsic value | |||||||||||||
exercise price | remaining | |||||||||||||||
contractual | ||||||||||||||||
term | ||||||||||||||||
in years | in millions | |||||||||||||||
Outstanding at January 1, 2013 | 833,594 | € | 18.66 | |||||||||||||
Granted (a) | 256,490 | € | 20.27 | |||||||||||||
Net impact of anti-dilution adjustments | 252,540 | € | (3.58 | ) | ||||||||||||
Outstanding at September 30, 2013 | 1,342,624 | € | 15.46 | 3.9 | € | 28.7 | ||||||||||
Exercisable at September 30, 2013 | — | € | — | — | € | — | ||||||||||
_______________ | ||||||||||||||||
(a) | Represents the number of options for which the performance criteria was set during the three months ended March 31, 2013. The vesting of these options was accelerated to March 31, 2013 in connection with the resignation of Telenet’s former Chief Executive Officer. As a result of this accelerated vesting, Telenet recorded additional share-based compensation of $6.2 million during the first quarter of 2013. All of the vested options pursuant to the Telenet 2010 Specific Stock Option Plan become exercisable during defined exercise periods following January 1, 2014. The fair value of these options was calculated on the date that the performance criteria was set using an expected volatility of 23.3%, an expected life of 3.3 years, and a risk-free return of 0.33%. The grant date fair value of these options was €18.24 ($24.68). | |||||||||||||||
Telenet 2013 Specific Stock Option Plan. In October 2013, Telenet granted 200,000 stock options to its new Chief Executive Officer under a specific stock option plan (the Telenet 2013 Specific Stock Option Plan) with an exercise price of €34.33 ($46.45) per option. Subject to achievement of relevant performance criteria, which criteria were set in October 2013, 50,000 options vest on July 4, 2014, 100,000 options vest on July 4, 2015 and 50,000 options vest on July 4, 2016 and vested options pursuant to the Telenet 2013 Specific Stock Option Plan become exercisable during defined exercise periods following July 4, 2016. All of the options granted under the Telenet 2013 Specific Stock Option Plan have an expiration date of July 4, 2018. | ||||||||||||||||
Telenet Employee Stock Warrant Plans. Telenet has granted warrants to members of senior management under various share-based compensation plans (the Telenet Employee Stock Warrant Plans). Each warrant provides the employee with the option to acquire a new ordinary share of Telenet at a specified exercise price. No further warrants are authorized for issuance under the Telenet Employee Stock Warrant Plans. Warrants generally vest at a rate of 6.25% per quarter over four years and expire on various dates through August 2016. | ||||||||||||||||
Telenet 2013 Employee Stock Option Plan. In July 2013, Telenet’s board of directors authorized a new employee stock option plan (the Telenet 2013 Employee Stock Option Plan). The maximum aggregate number of options authorized for issuance under the Telenet 2013 Employee Stock Option Plan is 1,200,000. Options granted under the Telenet 2013 Employee Stock Option Plan (i) vest quarterly over a period of four years at a rate of 10.00% per quarter for the first four quarters and then 5.00% per quarter thereafter and (ii) expire five years after the grant date. During the third quarter of 2013, a total of 741,448 stock options were granted and accepted pursuant to the Telenet 2013 Employee Stock Option Plan. | ||||||||||||||||
The following table summarizes the activity during the nine months ended September 30, 2013 related to the Telenet Employee Stock Warrant Plans and the Telenet 2013 Employee Stock Option Plan: | ||||||||||||||||
Warrants / Options — Telenet ordinary shares | Number of | Weighted | Weighted | Aggregate | ||||||||||||
shares | average | average | intrinsic value | |||||||||||||
exercise price | remaining | |||||||||||||||
contractual | ||||||||||||||||
term | ||||||||||||||||
in years | in millions | |||||||||||||||
Outstanding at January 1, 2013 | 3,185,709 | € | 13.95 | |||||||||||||
Granted | 741,448 | € | 34.33 | |||||||||||||
Forfeited | (7,725 | ) | € | 18.27 | ||||||||||||
Exercised | (1,513,932 | ) | € | 12.32 | ||||||||||||
Net impact of anti-dilution adjustments | 406,378 | € | (2.86 | ) | ||||||||||||
Outstanding at September 30, 2013 | 2,811,878 | € | 18.17 | 2.4 | € | 52.4 | ||||||||||
Exercisable at September 30, 2013 | 1,535,385 | € | 11.18 | 1.3 | € | 39.3 | ||||||||||
Restructuring_Liabilities
Restructuring Liabilities | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||||||
Restructuring Liabilities | ' | ||||||||||||||||
Restructuring Liabilities | |||||||||||||||||
A summary of changes in our restructuring liabilities during the nine months ended September 30, 2013 is set forth in the table below: | |||||||||||||||||
Employee | Office | Contract termination and other | Total | ||||||||||||||
severance | closures | ||||||||||||||||
and | |||||||||||||||||
termination | |||||||||||||||||
in millions | |||||||||||||||||
Restructuring liability as of January 1, 2013 | $ | 39.7 | $ | 4 | $ | 13.1 | $ | 56.8 | |||||||||
Restructuring charges | 50.7 | 0.7 | 87.8 | 139.2 | |||||||||||||
Cash paid | (60.2 | ) | (6.6 | ) | (3.9 | ) | (70.7 | ) | |||||||||
Virgin Media liability at acquisition date | 0.1 | 23.3 | — | 23.4 | |||||||||||||
Foreign currency translation adjustments and other | 0.5 | 0.7 | (4.9 | ) | (3.7 | ) | |||||||||||
Restructuring liability as of September 30, 2013 | $ | 30.8 | $ | 22.1 | $ | 92.1 | $ | 145 | |||||||||
Short-term portion | $ | 30.7 | $ | 20.5 | $ | 29.8 | $ | 81 | |||||||||
Long-term portion | 0.1 | 1.6 | 62.3 | 64 | |||||||||||||
Total | $ | 30.8 | $ | 22.1 | $ | 92.1 | $ | 145 | |||||||||
As further described in note 6, during the third quarter of 2013, we began implementing certain strategic changes with regard to the mobile operations of VTR Wireless. As a result, we recorded a $78.9 million restructuring charge that included (i) $71.1 million with respect to the discounted amount of the remaining payments due under VTR Wireless’ tower and real estate operating leases and (ii) $7.8 million with respect to the discounted amount of the remaining payments to be incurred in connection with the removal of VTR Wireless’ equipment from the associated towers. In addition, our restructuring charges during the nine months ended September 30, 2013 include $22.5 million, $10.6 million and $7.8 million of employee severance and termination costs related to reorganization and integration activities in the U.K., Germany and Chile, respectively. |
Earnings_Loss_per_Common_Share
Earnings (Loss) per Common Share | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Earnings (Loss) per Common Share | ' | |||||||||||||||
Earnings (Loss) per Common Share | ||||||||||||||||
Basic earnings (loss) per share attributable to Liberty Global shareholders is computed by dividing net earnings (loss) attributable to Liberty Global shareholders by the weighted average number of shares (excluding restricted shares) outstanding for the period. Diluted earnings (loss) per share attributable to Liberty Global shareholders presents the dilutive effect, if any, on a per share basis of potential ordinary shares (e.g., options, SARs, restricted shares, RSUs and convertible securities) as if they had been exercised, vested or converted at the beginning of the periods presented. | ||||||||||||||||
The details of our net earnings (loss) attributable to Liberty Global shareholders are set forth below: | ||||||||||||||||
Three months ended | Nine months ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
in millions | ||||||||||||||||
Amounts attributable to Liberty Global shareholders: | ||||||||||||||||
Loss from continuing operations | $ | (830.1 | ) | $ | (22.4 | ) | $ | (842.7 | ) | $ | (285.6 | ) | ||||
Earnings from discontinued operation | — | — | — | 939.7 | ||||||||||||
Net earnings (loss) attributable to Liberty Global shareholders | $ | (830.1 | ) | $ | (22.4 | ) | $ | (842.7 | ) | $ | 654.1 | |||||
We reported losses from continuing operations attributable to Liberty Global shareholders for the three and nine months ended September 30, 2013 and 2012. Therefore, the potentially dilutive effect at September 30, 2013 and 2012 of (i) the aggregate number of shares issuable pursuant to outstanding options, SARs, PSARs and restricted shares and RSUs of approximately 22.4 million and 10.8 million, respectively, (ii) the number of shares issuable pursuant to PSUs of approximately 2.0 million and 1.7 million, respectively and (iii) the aggregate number of shares issuable pursuant to obligations that may be settled in cash or shares of approximately 1.3 million and 3.7 million, respectively, were not included in the computation of diluted loss per share attributable to Liberty Global shareholders because their inclusion would have been anti-dilutive to the computation or, in the case of certain PSUs, because such awards had not yet met the applicable performance criteria. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||||||||||||||||||||||||||
Commitments and Contingencies | ' | |||||||||||||||||||||||||||||||
Commitments and Contingencies | ||||||||||||||||||||||||||||||||
Commitments | ||||||||||||||||||||||||||||||||
In the normal course of business, we have entered into agreements that commit our company to make cash payments in future periods with respect to non-cancelable operating leases, programming contracts, satellite carriage commitments, purchases of customer premises equipment and other items. The U.S. dollar equivalents of such commitments as of September 30, 2013 are presented below: | ||||||||||||||||||||||||||||||||
Payments due during: | ||||||||||||||||||||||||||||||||
Remainder | Year ending December 31, | |||||||||||||||||||||||||||||||
of | ||||||||||||||||||||||||||||||||
2013 | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||||||||||
Programming obligations | $ | 148.9 | $ | 502.1 | $ | 379.9 | $ | 254 | $ | 127.4 | $ | 27.5 | $ | 0.3 | $ | 1,440.10 | ||||||||||||||||
Operating leases | 68.9 | 205.8 | 176.9 | 139.6 | 112.7 | 79.8 | 385.5 | 1,169.20 | ||||||||||||||||||||||||
Other commitments | 892.5 | 771.8 | 626.7 | 470.5 | 362.3 | 190.4 | 1,292.80 | 4,607.00 | ||||||||||||||||||||||||
Total | $ | 1,110.30 | $ | 1,479.70 | $ | 1,183.50 | $ | 864.1 | $ | 602.4 | $ | 297.7 | $ | 1,678.60 | $ | 7,216.30 | ||||||||||||||||
Programming commitments consist of obligations associated with certain of our programming, studio output and sports rights contracts that are enforceable and legally binding on us in that we have agreed to pay minimum fees without regard to (i) the actual number of subscribers to the programming services, (ii) whether we terminate service to a portion of our subscribers or dispose of a portion of our distribution systems or (iii) whether we discontinue our premium film or sports services. The amounts reflected in the table with respect to these contracts are significantly less than the amounts we expect to pay in these periods under these contracts. Payments to programming vendors have in the past represented, and are expected to continue to represent in the future, a significant portion of our operating costs. In this regard, during the nine months ended September 30, 2013 and 2012, (a) the programming and copyright costs incurred by our broadband communications and DTH operations aggregated $1,154.5 million and $764.7 million, respectively (including intercompany charges that eliminate in consolidation of $56.6 million and $49.2 million, respectively), and (b) the third-party programming costs incurred by our programming distribution operations aggregated $93.9 million and $78.4 million, respectively. The ultimate amount payable in excess of the contractual minimums of our studio output contracts, which expire at various dates through 2019, is dependent upon the number of subscribers to our premium movie service and the theatrical success of the films that we exhibit. | ||||||||||||||||||||||||||||||||
Other commitments include Telenet’s commitments for certain operating costs associated with its leased network. Subsequent to October 1, 2015, these commitments are subject to adjustment based on changes in the network operating costs incurred by Telenet with respect to its own networks. These potential adjustments are not subject to reasonable estimation, and therefore, are not included in the above table. Other commitments also include (i) unconditional purchase obligations associated with commitments to purchase customer premises and other equipment and services that are enforceable and legally binding on us, (ii) commitments associated with our MVNO agreements, (iii) certain commitments of Telenet to purchase (a) broadcasting capacity on a digital terrestrial television (DTT) network and (b) certain spectrum licenses, (iv) certain repair and maintenance, fiber capacity and energy commitments of Unitymedia KabelBW and (v) commitments associated with satellite carriage services provided to our company. The amounts reflected in the table with respect to our MVNO commitments represent fixed minimum amounts payable under these agreements and therefore may be significantly less than the actual amounts we ultimately pay in these periods. Commitments arising from acquisition agreements are not reflected in the above table. | ||||||||||||||||||||||||||||||||
In addition to the commitments set forth in the table above, we have significant commitments under derivative instruments pursuant to which we expect to make payments in future periods. For information concerning our derivative instruments, including the net cash paid or received in connection with these instruments during the nine months ended September 30, 2013 and 2012, see note 4. | ||||||||||||||||||||||||||||||||
We also have commitments pursuant to (i) pension and similar arrangements and (ii) agreements with, and obligations imposed by, franchise authorities and municipalities, which may include obligations in certain markets to move aerial cable to underground ducts or to upgrade, rebuild or extend portions of our broadband communication systems. Such amounts are not included in the above table because they are not fixed or determinable. | ||||||||||||||||||||||||||||||||
Contingent Obligations | ||||||||||||||||||||||||||||||||
We are a party to various stockholder and similar agreements pursuant to which we could be required to make capital contributions to the entity in which we have invested or purchase another investor’s interest. We do not expect any payments made under these provisions to be material in relationship to our financial position or results of operations. | ||||||||||||||||||||||||||||||||
Guarantees and Other Credit Enhancements | ||||||||||||||||||||||||||||||||
In the ordinary course of business, we may provide indemnifications to our lenders, our vendors and certain other parties and performance and/or financial guarantees to local municipalities, our customers and vendors. Historically, these arrangements have not resulted in our company making any material payments and we do not believe that they will result in material payments in the future. | ||||||||||||||||||||||||||||||||
Legal and Regulatory Proceedings and Other Contingencies | ||||||||||||||||||||||||||||||||
Cignal. On April 26, 2002, Liberty Global Europe received a notice that certain former shareholders of Cignal Global Communications (Cignal) filed a lawsuit (the 2002 Cignal Action) against Liberty Global Europe in the District Court in Amsterdam, the Netherlands, claiming damages for Liberty Global Europe’s alleged failure to honor certain option rights that were granted to those shareholders pursuant to a shareholders agreement entered into in connection with the acquisition of Cignal by Priority Telecom NV (Priority Telecom). The shareholders agreement provided that in the absence of an initial public offering (IPO), as defined in the shareholders agreement, of shares of Priority Telecom by October 1, 2001, the Cignal shareholders would be entitled until October 31, 2001 to exchange their Priority Telecom shares into shares of Liberty Global Europe, with a cash equivalent value of $200 million in the aggregate, or cash at Liberty Global Europe’s discretion. Liberty Global Europe believes that it complied in full with its obligations to the Cignal shareholders through the successful completion of the IPO of Priority Telecom on September 27, 2001, and accordingly, the option rights were not exercisable. | ||||||||||||||||||||||||||||||||
On May 4, 2005, the District Court rendered its decision in the 2002 Cignal Action, dismissing all claims of the former Cignal shareholders. On August 2, 2005, an appeal against the District Court decision was filed with the Court of Appeals in Amsterdam. Subsequently, when the grounds of appeal were filed in November 2005, nine individual plaintiffs, rather than all former Cignal shareholders, continued to pursue their claims. Based on the share ownership information provided by the nine plaintiffs, the damage claims remaining subject to the 2002 Cignal Action are approximately $28 million in the aggregate before statutory interest. On September 13, 2007, the Court of Appeals in Amsterdam rendered its decision that no IPO within the meaning of the shareholders agreement had been realized and accordingly the plaintiffs should have been allowed to exercise their option rights. The Court of Appeals in Amsterdam gave the parties leave to appeal to the Dutch Supreme Court and deferred all further decisions and actions, including the calculation and substantiation of the damages claimed by the plaintiffs, pending such appeal. Liberty Global Europe filed the appeal with the Dutch Supreme Court on December 13, 2007. On February 15, 2008, the plaintiffs filed a conditional appeal against the decision with the Dutch Supreme Court, challenging certain aspects of the decision of the Court of Appeals in Amsterdam in the event that Liberty Global Europe’s appeal was not dismissed by the Dutch Supreme Court. On April 9, 2010, the Dutch Supreme Court issued its decision in which it honored the appeal of Liberty Global Europe, dismissed the plaintiffs’ conditional appeal and referred the case to the Court of Appeals in The Hague. It is unclear whether the Cignal shareholders will request the Court of Appeals in The Hague to render a new decision. | ||||||||||||||||||||||||||||||||
On June 13, 2006, Liberty Global Europe, Priority Telecom, Euronext NV and Euronext Amsterdam NV were each served with a summons for a new action (the 2006 Cignal Action) purportedly on behalf of all other former Cignal shareholders and provisionally for the nine plaintiffs in the 2002 Cignal Action. The 2006 Cignal Action claimed, in addition to the claims asserted in the 2002 Cignal Action, that (i) Liberty Global Europe did not meet its duty of care obligations to ensure an exit for the Cignal shareholders through an IPO and (ii) the listing of Priority Telecom on Euronext Amsterdam NV in September 2001 did not meet the requirements of the applicable listing rules and, accordingly, that the IPO was not valid and did not satisfy Liberty Global Europe’s obligations to the Cignal shareholders. Aggregate claims of $200 million, plus statutory interest, were asserted in this action, which amount includes the $28 million provisionally claimed by the nine plaintiffs in the 2002 Cignal Action. On December 19, 2007, the District Court rendered its decision dismissing the plaintiffs’ claims against Liberty Global Europe and the other defendants. The plaintiffs appealed the decision of the District Court to the Court of Appeals in Amsterdam. On December 10, 2009, the Court of Appeals in Amsterdam issued a partial decision holding that Priority Telecom was not liable to the Cignal shareholders, but postponed its decision with respect to the other defendants pending receipt of the decision of the Dutch Supreme Court. The Dutch Supreme Court’s April 9, 2010 decision was delivered to the Court of Appeals in Amsterdam and, on September 6, 2011, the Court of Appeals in Amsterdam confirmed the decision of the District Court and dismissed all claims of the former Cignal shareholders. On December 6, 2011, the Cignal shareholders appealed the September 6, 2011 decision to the Dutch Supreme Court. On October 25, 2013, the Dutch Supreme Court dismissed the plaintiffs’ claims in the 2006 Cignal Action against Liberty Global Europe and the other defendants as being without merit. | ||||||||||||||||||||||||||||||||
We consider the October 25, 2013 Dutch Supreme Court decision to be the final resolution of the 2006 Cignal Action and the effective resolution of the 2002 Cignal Action. Accordingly, we released the entire $146.0 million provision related to this matter during the third quarter of 2013. | ||||||||||||||||||||||||||||||||
Interkabel Acquisition. On November 26, 2007, Telenet and four associations of municipalities in Belgium, which we refer to as the pure intercommunalues or the “PICs,” announced a non-binding agreement-in-principle to transfer the analog and digital television activities of the PICs, including all existing subscribers to Telenet. Subsequently, Telenet and the PICs entered into a binding agreement (the 2008 PICs Agreement), which closed effective October 1, 2008. Beginning in December 2007, Belgacom NV/SA (Belgacom), the incumbent telecommunications operator in Belgium, instituted several proceedings seeking to block implementation of these agreements. It lodged summary proceedings with the President of the Court of First Instance of Antwerp to obtain a provisional injunction preventing the PICs from effecting the agreement-in-principle and initiated a civil procedure on the merits claiming the annulment of the agreement-in-principle. In March 2008, the President of the Court of First Instance of Antwerp ruled in favor of Belgacom in the summary proceedings, which ruling was overturned by the Court of Appeal of Antwerp in June 2008. Belgacom brought this appeal judgment before the Cour de Cassation (the Belgian Supreme Court), which confirmed the appeal judgment in September 2010. On April 6, 2009, the Court of First Instance of Antwerp ruled in favor of the PICs and Telenet in the civil procedure on the merits, dismissing Belgacom’s request for the rescission of the agreement-in-principle and the 2008 PICs Agreement. On June 12, 2009, Belgacom appealed this judgment with the Court of Appeal of Antwerp. In this appeal, Belgacom is now also seeking compensation for damages should the 2008 PICs Agreement not be rescinded. However, the claim for compensation has not yet been quantified. At the introductory hearing, which was held on September 8, 2009, the proceedings on appeal were postponed indefinitely at the request of Belgacom. | ||||||||||||||||||||||||||||||||
In parallel with the above proceedings, Belgacom filed a complaint with the Government Commissioner seeking suspension of the approval by the PICs’ board of directors of the agreement-in-principle and initiated suspension and annulment procedures before the Belgian Council of State against these approvals and subsequently against the board resolutions of the PICs approving the 2008 PICs Agreement. In this complaint, Belgacom’s primary argument was that the PICs should have organized a public market consultation before entering into the agreement-in-principal and the 2008 PICs Agreement. Belgacom’s efforts to suspend approval of these agreements were unsuccessful. In the annulment cases, the Belgian Council of State decided on May 2, 2012 to refer a number of questions of interpretation of European Union (EU) law for preliminary ruling to the European Court of Justice. The ruling by the European Court of Justice is expected by November 14, 2013. Following the ruling of the European Court of Justice, the annulment cases will be resumed with the Belgian Council of State. The Belgian Council of State will be required to follow the interpretation given by the European Court of Justice to the points of EU law in its preliminary ruling. | ||||||||||||||||||||||||||||||||
It is possible that Belgacom or another third party or public authority will initiate further legal proceedings in an attempt to block the integration of the PICs’ analog and digital television activities or obtain the rescission of the 2008 PICs Agreement. No assurance can be given as to the outcome of these or other proceedings. However, an unfavorable outcome of existing or future proceedings could potentially lead to the rescission of the 2008 PICs Agreement and/or to an obligation for Telenet to pay compensation for damages, subject to the relevant provisions of the 2008 PICs Agreement, which stipulate that Telenet is only responsible for damages in excess of €20.0 million ($27.1 million). In light of the fact that Belgacom has not quantified the amount of damages that it is seeking and we have no basis for assessing the amount of losses we would incur in the unlikely event that the 2008 PICs Agreement were to be rescinded, we cannot provide a reasonable estimate of the range of loss that would be incurred in the event the ultimate resolution of this matter were to be unfavorable to Telenet. However, we do not expect the ultimate resolution of this matter to have a material impact on our results of operations or financial condition. | ||||||||||||||||||||||||||||||||
Virgin Media Acquisition Litigation. On February 12, 2013, February 19, 2013 and March 26, 2013, respectively, three purported shareholders of Virgin Media filed lawsuits in the Supreme Court of the State of New York, New York County against the members of the Virgin Media board of directors, Virgin Media, LGI, Liberty Global and certain LGI subsidiaries challenging the Virgin Media Acquisition. All three plaintiffs purported to sue on behalf of the public stockholders of Virgin Media and alleged that the members of the Virgin Media board of directors breached their fiduciary duties to Virgin Media stockholders in connection with the sale of Virgin Media to LGI by, among other things, failing to secure adequate consideration, failing to engage in a fair sales process and failing to disclose material information in the joint proxy statement/prospectus. The complaints alleged that LGI, Liberty Global and certain LGI subsidiaries aided and abetted the alleged breaches of fiduciary duty by Virgin Media’s board of directors. The complaints sought, among other things, rescission and plaintiffs’ attorneys’ fees and costs. Certain of the plaintiffs also sought damages. On April 10, 2013, the three actions were consolidated in the Commercial Division of the Supreme Court of the State of New York. On May 23, 2013, the parties to the consolidated lawsuit entered into a binding Term Sheet to settle the consolidated cases and, on July 22, 2013, executed a Stipulation and Agreement of Compromise, Settlement and Release (the Settlement). On October 3, 2013, the Supreme Court of the State of New York issued a final order and judgment approving the Settlement. No stockholders of Virgin Media elected out of the Settlement. The Settlement did not have a material impact on our financial condition or results of operations. | ||||||||||||||||||||||||||||||||
Deutsche Telekom Litigation. On December 28, 2012, Unitymedia KabelBW filed a lawsuit against Telekom Deutschland GmbH, an operating subsidiary of Deutsche Telekom AG (Deutsche Telekom), in which Unitymedia KabelBW asserts that it pays excessive prices for the co-use of Deutsche Telekom’s cable ducts in Unitymedia KabelBW’s footprint. The Federal Network Agency approved rates for the co-use of certain ducts of Telekom Deutschland GmbH in March 2011. Based in part on these approved rates, Unitymedia KabelBW is seeking a reduction of the annual lease fees (approximately €76 million ($103 million) for 2012) by approximately two-thirds and the return of similarly calculated overpayments from 2009 through the ultimate settlement date, plus accrued interest. The resolution of this matter may take several years and no assurance can be given that Unitymedia KabelBW’s claims will be successful. Any recovery by Unitymedia KabelBW will not be reflected in our consolidated financial statements until such time as the final disposition of this matter has been reached. | ||||||||||||||||||||||||||||||||
Vivendi Litigation. A wholly-owned subsidiary of our company is a plaintiff in certain litigation titled Liberty Media Corporation, et. al. v. Vivendi S.A. and Universal Studio (SDNY). The predecessor of Liberty Global was a subsidiary of Liberty Media Corporation (Liberty Media) through June 6, 2004. In connection with Liberty Media’s prosecution of the action, our subsidiary assigned its rights to Liberty Media in exchange for a contingent payout in the event Liberty Media recovered any amounts as a result of the action. Our subsidiary’s interest in any such recovery will be equal to 10% of the recovery amount, including any interest awarded, less the amount to be retained by Liberty Media for (i) all fees and expenses incurred by Liberty Media in connection with the action (including expenses to be incurred in connection with any appeals and the payment of certain deferred legal fees) and (ii) agreed upon interest on such fees and expenses. On January 17, 2013, following a jury trial, the court entered a final judgment in favor of the plaintiffs in the amount of €944 million ($1,277 million), including prejudgment interest. Vivendi S.A. and Universal Studios have filed a notice of appeal of the court’s final judgment to the Second Circuit Court of Appeals. As a result, the amount that our subsidiary may ultimately recover in connection with the final resolution of the action, if any, is uncertain. Any recovery by our company will not be reflected in our consolidated financial statements until such time as the final disposition of this matter has been reached. | ||||||||||||||||||||||||||||||||
Liberty Puerto Rico Matter. Liberty Puerto Rico, as the surviving entity in the Puerto Rico Transaction, is a party to certain lawsuits previously asserted against OneLink, including a claim that OneLink acted in an anticompetitive manner in connection with a series of legal and regulatory proceedings it initiated against the incumbent telephone operator in Puerto Rico beginning in 2009. Given, among other matters, that (i) discovery has not yet been completed, (ii) the amount of damages sought has not been specified and (iii) there is significant uncertainty as to the outcome, we are not in a position to reasonably estimate the range of loss that might be incurred by Liberty Puerto Rico in the event of an unfavorable outcome in this matter. | ||||||||||||||||||||||||||||||||
Netherlands Regulatory Developments. In December 2011, the Dutch National Regulatory Authority (OPTA) completed a market assessment of the television market in the Netherlands, concluding that there were no grounds for regulation of that market. On December 22, 2011, referring to its final assessment of the television market, OPTA rejected previously filed requests from a number of providers to perform a new market analysis of the television market. This decision by OPTA was appealed by such providers to the Dutch Supreme Administrative Court. On November 5, 2012, the Dutch Supreme Administrative Court rejected the appeals against OPTA’s decision. | ||||||||||||||||||||||||||||||||
In May 2012, the Dutch Senate adopted laws that (i) provide the power to OPTA to impose an obligation for the mandatory resale of television services and to the Commissariaat voor de Media (CvdM) to supervise the resale obligation introduced by these new laws and (ii) provide for “net neutrality” on the internet, including limitations on the ability of broadband service providers to delay, choke or block traffic except under specific circumstances. These laws became effective on January 1, 2013 notwithstanding the above-described November 5, 2012 decision of the Dutch Supreme Administrative Court. On October 24, 2012, the European Commission opened formal infringement proceedings against the Dutch government on the basis that the new laws pertaining to resale breach EU law. The Dutch government responded to the infringement proceedings on June 25, 2013 and the European Commission is currently reviewing the response. If such response is deemed to be unsatisfactory to the European Commission, it may refer the matter to the European Court of Justice. We agree with the EU that the new laws pertaining to resale are contrary to EU law and we, along with other market participants, will contest their application. | ||||||||||||||||||||||||||||||||
Although we received requests from a limited number of our competitors under the new CvdM resale regulation, we have had only preliminary discussions with such competitors. We cannot predict the outcome of these discussions nor whether or when we will begin selling our television services in the Netherlands pursuant to the new resale regulation. In this regard, any implementation of a resale regime would likely take several months or more and, if implemented, its application may strengthen our competitors by granting them resale access to our network to offer competing products and services notwithstanding our substantial historical financial outlays in developing the infrastructure. In addition, any resale access granted to our competitors could (i) limit the bandwidth available to us to provide new or expanded products and services to the customers served by our network and (ii) adversely impact our ability to maintain or increase our revenue and cash flows. | ||||||||||||||||||||||||||||||||
Belgium Regulatory Developments. In December 2010, the Belgisch Instituut voor Post en Telecommunicatie (the BIPT) and the regional regulators for the media sectors (together, the Belgium Regulatory Authorities) published their respective draft decisions reflecting the results of their joint analysis of the broadcasting market in Belgium. | ||||||||||||||||||||||||||||||||
After a public consultation, the draft decisions were submitted to the European Commission. The European Commission issued a notice on the draft decision that criticized the analysis of the broadcasting markets on several grounds, including the fact that the Belgium Regulatory Authorities failed to analyze upstream wholesale markets. It also expressed doubts as to the necessity and proportionality of the various remedies. | ||||||||||||||||||||||||||||||||
The Belgium Regulatory Authorities adopted a final decision on July 1, 2011 (the July 2011 Decision) with some minor revisions. The regulatory obligations imposed by the July 2011 Decision include (i) an obligation to make a resale offer at “retail minus’’ of the cable analog package available to third party operators (including Belgacom), (ii) an obligation to grant third-party operators (except Belgacom) access to digital television platforms (including the basic digital video package) at “retail minus,” and (iii) an obligation to make a resale offer at “retail minus’’ of broadband internet access available to beneficiaries of the digital television access obligation that wish to offer bundles of digital video and broadband internet services to their customers (except Belgacom). After Telenet submitted draft reference offers regarding the obligations described above in February 2012, to which the Belgium Regulatory Authorities subsequently made their observations, launched a national consultation process and consulted with the European Commission. Although the European Commission expressed doubts regarding the analog resale offers, the European Commission approved the decision on the reference offers on September 3, 2013. The Belgium Regulatory Authorities published the final decision on September 9, 2013. The regulated wholesale services must be available approximately six months after a third-party operator files a letter of intent and pays an advance payment to each cable operator. Accordingly, the reference offers could be operational as soon as the second quarter of 2014. On April 2, 2013, the Belgium Regulatory Authorities issued a draft decision regarding the “retail-minus” tariffs of minus 35% for basic TV (basic analog and digital video package) and minus 30% for the bundle of basic TV and broadband internet services. A “retail-minus” method of pricing involves a wholesale tariff calculated as the retail price for the offered service by Telenet, excluding value-added taxes and copyrights, and further deducting the retail costs avoided by offering the wholesale service (such as, for example, costs for billing, franchise, consumer service, marketing, and sales). On October 4, 2013, the Belgium Regulatory Authorities notified a draft quantitative decision to the European Commission in which they changed the “retail-minus” tariffs to minus 30% for basic TV (basic analog and digital video package) and to minus 23% for the bundle of basic TV and broadband internet services. The notification to the European Commission started an investigation and we expect the European Commission to render its decision on or about November 8, 2013. | ||||||||||||||||||||||||||||||||
Telenet filed an appeal against the July 2011 Decision with the Brussels Court of Appeal. On September 4, 2012, the Brussels Court of Appeal rejected Telenet’s request to suspend the July 2011 Decision pending the proceedings on the merits. Due to this rejection, Telenet will be required to begin the process of implementing its reference offers as soon as such reference offers are approved by the Belgium Regulatory Authorities. A final ruling on the merits can be expected during the second or third quarter of 2014. There can be no certainty that Telenet’s appeals will be successful. Accordingly, one or more of these regulatory obligations could be upheld, in present or modified form. | ||||||||||||||||||||||||||||||||
The July 2011 Decision aims to, and in its application may, strengthen Telenet’s competitors by granting them resale access to Telenet’s network to offer competing products and services notwithstanding Telenet’s substantial historical financial outlays in developing the infrastructure. In addition, any resale access granted to competitors could (i) limit the bandwidth available to Telenet to provide new or expanded products and services to the customers served by its network and (ii) adversely impact Telenet’s ability to maintain or increase its revenue and cash flows. The extent of any such adverse impacts ultimately will be dependent on the extent that competitors take advantage of the resale access ultimately afforded to Telenet’s network and other competitive factors or market developments. | ||||||||||||||||||||||||||||||||
FCO Regulatory Issues. Our acquisition of Kabel BW GmbH (KBW) was subject to the approval of the Federal Cartel Office (FCO) in Germany, which approval was received in December 2011. In January 2012, two of our competitors, including the incumbent telecommunications operator, each filed an appeal against the FCO regarding its decision to approve our acquisition of KBW. On August 14, 2013, the Düsseldorf Court of Appeal issued a ruling that set aside the FCO’s clearance decision. Although the Düsseldorf Court of Appeal did not grant the right to appeal against its ruling to the Federal Supreme Court, on September 16, 2013, we filed a formal request to appeal to the Federal Court of Justice seeking permission to appeal the Düsseldorf Court of Appeal’s decision. The Düsseldorf Court of Appeal’s ruling is not legally binding until all appeals have been rejected. If we are not granted the right to appeal, or if any appeal is unsuccessful and the Düsseldorf Court of Appeal’s ruling to overturn the FCO clearance becomes final and binding, our acquisition of KBW would be remitted to the FCO for a new phase II review. The FCO would have the power to clear the deal subject to additional remedies or, although we do not expect either to be the outcome, to refuse clearance of the transaction or clear the transaction unconditionally. We will continue to pursue any available opportunity to appeal the Düsseldorf Court of Appeal’s ruling. We do not expect that the continued proceedings relating to these appeals will have any impact on the integration and development of our operations in Germany or the day-to-day running of our business. We cannot predict the final outcome of this appeal process, however, any new decision by the FCO with respect to our acquisition of KBW as a result of the Düsseldorf Court of Appeal’s ruling, including any decision that increases the existing conditions we are subject to in connection with the FCO’s initial approval of our acquisition of KBW or imposes additional conditions, could have a material adverse impact on the financial condition and results of operations of our company. | ||||||||||||||||||||||||||||||||
FCO Communication. The FCO has communicated to us that it is reviewing customary practices regarding the duration of contracts with multiple dwelling units for analog television services, including with respect to one such contract that the FCO had previously identified between Unitymedia KabelBW and a landlord as potentially being subject to amendment by order. The FCO indicated that the contract term of 10 years may be an infringement of European and German antitrust laws and that it is inclined to open a test case that could set a precedent for all (or almost all) market participants. We cannot predict the outcome of these FCO proceedings, however, any FCO decision that would limit the duration of our contracts with multiple dwelling units could have a material adverse impact on the financial condition and results of operations of Unitymedia KabelBW. | ||||||||||||||||||||||||||||||||
Financial Transactions Tax. Eleven countries in the EU, including Belgium, Germany, Austria and Slovakia, are participating in an enhanced cooperation procedure to introduce a financial transactions tax (FTT). Under the draft language of the FTT proposal, a wide range of financial transactions could be taxed at rates of at least 0.01% for derivative transactions based on the notional amount and 0.1% for other covered financial transactions based on the underlying transaction price. Each of the individual countries would be permitted to determine an exact rate, which could be higher than the proposed rates of 0.01% and 0.1%. Any implementation of the FTT could have a global impact because it would apply to all financial transactions where a financial institution is involved (including unregulated entities that engage in certain types of covered activity) and either of the parties (whether the financial institution or its counterparty) is in one of the eleven participating countries. Under the current proposal, the FTT could become effective as early as mid-2014, but there is significant uncertainty as to whether the FTT will be implemented and, if implemented, the timing and breadth of application. Any imposition of the FTT could increase banking fees and introduce taxes on internal transactions that we currently perform. Due to the uncertainty regarding the FTT, we are currently unable to estimate the financial impact that the FTT could have on our consolidated financial position or results of operations or cash flows. | ||||||||||||||||||||||||||||||||
Virgin Media VAT Matters. Virgin Media’s application of the value added tax (VAT) with respect to certain revenue generating activities has been challenged by the U.K. tax authorities. Virgin Media has estimated its maximum exposure in the event of an unfavorable outcome to be £35.1 million ($56.8 million) as of September 30, 2013. No portion of this exposure has been accrued by Virgin Media as the likelihood of loss is not considered to be probable. An initial hearing on these matters is expected to take place in the fourth quarter of 2013. | ||||||||||||||||||||||||||||||||
Other Regulatory Issues. Video distribution, broadband internet, fixed-line telephony, mobile and content businesses are regulated in each of the countries in which we operate. The scope of regulation varies from country to country, although in some significant respects regulation in European markets is harmonized under the regulatory structure of the EU. Adverse regulatory developments could subject our businesses to a number of risks. Regulation, including conditions imposed on us by competition or other authorities as a requirement to close acquisitions or dispositions, could limit growth, revenue and the number and types of services offered and could lead to increased operating costs and capital expenditures. In addition, regulation may restrict our operations and subject them to further competitive pressure, including pricing restrictions, interconnect and other access obligations, and restrictions or controls on content, including content provided by third parties. Failure to comply with current or future regulation could expose our businesses to various penalties. | ||||||||||||||||||||||||||||||||
Other. In addition to the foregoing items, we have contingent liabilities related to matters arising in the ordinary course of business including (i) legal proceedings, (ii) issues involving VAT and wage, property and other tax issues and (iii) disputes over interconnection, programming, copyright and carriage fees. While we generally expect that the amounts required to satisfy these contingencies will not materially differ from any estimated amounts we have accrued, no assurance can be given that the resolution of one or more of these contingencies will not result in a material impact on our results of operations or cash flows in any given period. Due, in general, to the complexity of the issues involved and, in certain cases, the lack of a clear basis for predicting outcomes, we cannot provide a meaningful range of potential losses or cash outflows that might result from any unfavorable outcomes. |
Segment_Reporting
Segment Reporting | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Segment Reporting, Measurement Disclosures [Abstract] | ' | |||||||||||||||
Segment Reporting | ' | |||||||||||||||
Segment Reporting | ||||||||||||||||
We generally identify our reportable segments as those consolidated subsidiaries that represent 10% or more of our revenue, operating cash flow (as defined below) or total assets. In certain cases, we may elect to include an operating segment in our segment disclosure that does not meet the above-described criteria for a reportable segment. We evaluate performance and make decisions about allocating resources to our operating segments based on financial measures such as revenue and operating cash flow. In addition, we review non-financial measures such as subscriber growth, as appropriate. | ||||||||||||||||
Operating cash flow is the primary measure used by our chief operating decision maker to evaluate segment operating performance. Operating cash flow is also a key factor that is used by our internal decision makers to (i) determine how to allocate resources to segments and (ii) evaluate the effectiveness of our management for purposes of annual and other incentive compensation plans. As we use the term, operating cash flow is defined as revenue less operating and SG&A expenses (excluding share-based compensation, depreciation and amortization, provisions and provision releases related to significant litigation and impairment, restructuring and other operating items). Other operating items include (a) gains and losses on the disposition of long-lived assets, (b) third-party costs directly associated with successful and unsuccessful acquisitions and dispositions, including legal, advisory and due diligence fees, as applicable, and (c) other acquisition-related items, such as gains and losses on the settlement of contingent consideration. Our internal decision makers believe operating cash flow is a meaningful measure and is superior to available GAAP measures because it represents a transparent view of our recurring operating performance that is unaffected by our capital structure and allows management to (1) readily view operating trends, (2) perform analytical comparisons and benchmarking between segments and (3) identify strategies to improve operating performance in the different countries in which we operate. We believe our operating cash flow measure is useful to investors because it is one of the bases for comparing our performance with the performance of other companies in the same or similar industries, although our measure may not be directly comparable to similar measures used by other public companies. Operating cash flow should be viewed as a measure of operating performance that is a supplement to, and not a substitute for, operating income, net earnings (loss), cash flow from operating activities and other GAAP measures of income or cash flows. A reconciliation of total segment operating cash flow to our earnings (loss) from continuing operations before income taxes is presented below. | ||||||||||||||||
During the second quarter of 2013, we began presenting our Telenet (Belgium) segment within our European Operations Division as a result of our decision to change how Telenet reports into our management structure. Beginning on January 1, 2013, a programming business that was previously managed by Chellomedia was transferred to and, accordingly, is now reported within, our European Operations Division’s central operations. Beginning in the fourth quarter of 2012, the management responsibility for certain of our operations in Switzerland was transferred to our Austrian operations and, accordingly, such operations are now reported within our Other Western Europe segment. Segment information for the three and nine months ended September 30, 2012 has been retrospectively revised to reflect these changes. We present only the reportable segments of our continuing operations in the tables below. We have identified the following consolidated operating segments as our reportable segments: | ||||||||||||||||
• | European Operations Division: | |||||||||||||||
• | U.K. (Virgin Media) | |||||||||||||||
• | Germany (Unitymedia KabelBW) | |||||||||||||||
• | Belgium (Telenet) | |||||||||||||||
• | The Netherlands | |||||||||||||||
• | Switzerland | |||||||||||||||
• | Other Western Europe | |||||||||||||||
• | Central and Eastern Europe | |||||||||||||||
• | Chile (VTR Group) | |||||||||||||||
All of the reportable segments set forth above derive their revenue primarily from broadband communications services, including video, broadband internet and fixed-line telephony services. All of our reportable segments also provide B2B services and certain of our reportable segments provide mobile services. At September 30, 2013, our operating segments in the European Operations Division provided broadband communications services in 12 European countries and DTH services to customers in the Czech Republic, Hungary, Romania and Slovakia through a Luxembourg-based organization that we refer to as “UPC DTH.” Virgin Media and Telenet provide video, broadband internet, fixed-line telephony and mobile services in the U.K. and Belgium, respectively. Our Other Western Europe segment includes our broadband communications operating segments in Austria and Ireland. Our Central and Eastern Europe segment includes our broadband communications operating segments in the Czech Republic, Hungary, Poland, Romania and Slovakia. The European Operations Division’s central and other category includes (i) the UPC DTH operating segment, (ii) costs associated with certain centralized functions, including billing systems, network operations, technology, marketing, facilities, finance and other administrative functions, and (iii) intersegment eliminations within the European Operations Division. In Chile, the VTR Group includes VTR, which provides video, broadband internet and fixed-line telephony services, and VTR Wireless, which provides mobile services through third-party wireless access arrangements. Our corporate and other category includes (i) less significant consolidated operating segments that provide (a) broadband communications services in Puerto Rico and (b) programming and other services primarily in Europe and Latin America and (ii) our corporate category. Intersegment eliminations primarily represent the elimination of intercompany transactions between our broadband communications and programming operations, primarily in Europe. | ||||||||||||||||
Performance Measures of Our Reportable Segments | ||||||||||||||||
The amounts presented below represent 100% of each of our reportable segment’s revenue and operating cash flow. As we have the ability to control Telenet, the VTR Group and Liberty Puerto Rico, we consolidate 100% of the revenue and expenses of these entities in our condensed consolidated statements of operations despite the fact that third parties own significant interests in these entities. The noncontrolling owners’ interests in the operating results of Telenet, the VTR Group, Liberty Puerto Rico and other less significant majority-owned subsidiaries are reflected in net earnings or loss attributable to noncontrolling interests in our condensed consolidated statements of operations. | ||||||||||||||||
Revenue | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
in millions | ||||||||||||||||
European Operations Division: | ||||||||||||||||
U.K. (Virgin Media) (a) | $ | 1,587.40 | $ | — | $ | 1,988.70 | $ | — | ||||||||
Germany (Unitymedia KabelBW) | 641.3 | 568.7 | 1,884.10 | 1,695.60 | ||||||||||||
Belgium (Telenet) | 545.6 | 461 | 1,616.20 | 1,404.70 | ||||||||||||
The Netherlands | 305.4 | 300.3 | 923.4 | 914.7 | ||||||||||||
Switzerland | 332.1 | 308 | 982 | 934.3 | ||||||||||||
Other Western Europe | 223.5 | 207.9 | 665.7 | 628.3 | ||||||||||||
Total Western Europe | 3,635.30 | 1,845.90 | 8,060.10 | 5,577.60 | ||||||||||||
Central and Eastern Europe | 279.1 | 273.9 | 848.4 | 829.8 | ||||||||||||
Central and other | 33.4 | 29 | 96.7 | 86.1 | ||||||||||||
Total European Operations Division | 3,947.80 | 2,148.80 | 9,005.20 | 6,493.50 | ||||||||||||
Chile (VTR Group) | 244.8 | 241 | 747.9 | 692.3 | ||||||||||||
Corporate and other | 199.8 | 150.3 | 610.5 | 451.3 | ||||||||||||
Intersegment eliminations | (21.2 | ) | (21.0 | ) | (62.8 | ) | (56.5 | ) | ||||||||
Total | $ | 4,371.20 | $ | 2,519.10 | $ | 10,300.80 | $ | 7,580.60 | ||||||||
________________ | ||||||||||||||||
(a) | The amount presented for the 2013 nine-month period reflects the post-acquisition revenue of Virgin Media from June 8, 2013 through September 30, 2013. | |||||||||||||||
Operating cash flow | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
in millions | ||||||||||||||||
European Operations Division: | ||||||||||||||||
U.K. (Virgin Media) (a) | $ | 663 | $ | — | $ | 838.3 | $ | — | ||||||||
Germany (Unitymedia KabelBW) | 391.2 | 340.9 | 1,120.60 | 998.1 | ||||||||||||
Belgium (Telenet) | 275.4 | 240.7 | 792.1 | 713.4 | ||||||||||||
The Netherlands | 176.3 | 183.7 | 532.2 | 545.2 | ||||||||||||
Switzerland | 200.8 | 176.5 | 572.2 | 532.7 | ||||||||||||
Other Western Europe | 113.8 | 103.2 | 324.2 | 297.7 | ||||||||||||
Total Western Europe | 1,820.50 | 1,045.00 | 4,179.60 | 3,087.10 | ||||||||||||
Central and Eastern Europe | 131.9 | 137.7 | 407.6 | 410.2 | ||||||||||||
Central and other | (44.5 | ) | (36.1 | ) | (144.5 | ) | (116.1 | ) | ||||||||
Total European Operations Division | 1,907.90 | 1,146.60 | 4,442.70 | 3,381.20 | ||||||||||||
Chile (VTR Group) | 84.5 | 81.5 | 256.5 | 232 | ||||||||||||
Corporate and other | 8.6 | (3.4 | ) | 21.1 | 2 | |||||||||||
Total | $ | 2,001.00 | $ | 1,224.70 | $ | 4,720.30 | $ | 3,615.20 | ||||||||
_________________ | ||||||||||||||||
(a) | The amount presented for the 2013 nine-month period reflects the post-acquisition operating cash flow of Virgin Media from June 8, 2013 through September 30, 2013. | |||||||||||||||
The following table provides a reconciliation of total segment operating cash flow from continuing operations to earnings (loss) from continuing operations before income taxes: | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
in millions | ||||||||||||||||
Total segment operating cash flow from continuing operations | $ | 2,001.00 | $ | 1,224.70 | $ | 4,720.30 | $ | 3,615.20 | ||||||||
Share-based compensation expense | (98.7 | ) | (27.2 | ) | (219.4 | ) | (90.5 | ) | ||||||||
Depreciation and amortization | (1,390.5 | ) | (670.3 | ) | (2,947.9 | ) | (2,009.7 | ) | ||||||||
Release of litigation provision | 146 | — | 146 | — | ||||||||||||
Impairment, restructuring and other operating items, net | (135.9 | ) | (18.1 | ) | (206.5 | ) | (32.6 | ) | ||||||||
Operating income | 521.9 | 509.1 | 1,492.50 | 1,482.40 | ||||||||||||
Interest expense | (630.2 | ) | (408.6 | ) | (1,642.7 | ) | (1,228.8 | ) | ||||||||
Interest and dividend income | 62 | 17.8 | 111.2 | 38.7 | ||||||||||||
Realized and unrealized losses on derivative instruments, net | (876.3 | ) | (237.2 | ) | (685.2 | ) | (613.9 | ) | ||||||||
Foreign currency transaction gains, net | 255 | 150.2 | 211.6 | 154.8 | ||||||||||||
Realized and unrealized gains (losses) due to changes in fair values of certain investments, net | 78.9 | (18.1 | ) | 344.1 | (1.3 | ) | ||||||||||
Losses on debt modifications and extinguishment, net | (0.7 | ) | (13.8 | ) | (170.7 | ) | (27.5 | ) | ||||||||
Gains due to changes in ownership | — | 52.5 | — | 52.5 | ||||||||||||
Other income (expense), net | (3.4 | ) | 3.4 | (6.6 | ) | (0.6 | ) | |||||||||
Earnings (loss) from continuing operations before income taxes | $ | (592.8 | ) | $ | 55.3 | $ | (345.8 | ) | $ | (143.7 | ) | |||||
Revenue by Major Category | ||||||||||||||||
Our revenue by major category is set forth below: | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
in millions | ||||||||||||||||
Subscription revenue (a): | ||||||||||||||||
Video | $ | 1,599.60 | $ | 1,128.40 | $ | 4,087.10 | $ | 3,435.90 | ||||||||
Broadband internet (b) | 1,023.70 | 595.3 | 2,448.20 | 1,776.60 | ||||||||||||
Telephony (b) | 768.5 | 380 | 1,696.60 | 1,130.80 | ||||||||||||
Total subscription revenue | 3,391.80 | 2,103.70 | 8,231.90 | 6,343.30 | ||||||||||||
Other revenue (b) (c) | 979.4 | 415.4 | 2,068.90 | 1,237.30 | ||||||||||||
Total | $ | 4,371.20 | $ | 2,519.10 | $ | 10,300.80 | $ | 7,580.60 | ||||||||
_______________ | ||||||||||||||||
(a) | Subscription revenue includes amounts received from subscribers for ongoing services, excluding installation fees, late fees and mobile services revenue. Subscription revenue from subscribers who purchase bundled services at a discounted rate is generally allocated proportionally to each service based on the standalone price for each individual service. | |||||||||||||||
(b) | In connection with the Virgin Media Acquisition, we determined that we would no longer externally report digital subscriber line (DSL) subscribers as revenue generating units (RGUs). Accordingly, we have reclassified the revenue from our DSL subscribers in Austria from broadband internet and telephony subscription revenue to other revenue for all periods presented. | |||||||||||||||
(c) | Other revenue includes non-subscription revenue (including B2B, mobile services, interconnect, installation revenue and carriage fees) and programming revenue. | |||||||||||||||
Geographic Segments | ||||||||||||||||
The revenue of our geographic segments is set forth below: | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
in millions | ||||||||||||||||
European Operations Division: | ||||||||||||||||
United Kingdom (a) | $ | 1,587.40 | $ | — | $ | 1,988.70 | $ | — | ||||||||
Germany | 641.3 | 568.7 | 1,884.10 | 1,695.60 | ||||||||||||
Belgium | 545.6 | 461 | 1,616.20 | 1,404.70 | ||||||||||||
The Netherlands | 305.4 | 300.3 | 923.4 | 914.7 | ||||||||||||
Switzerland | 332.1 | 308 | 982 | 934.3 | ||||||||||||
Austria | 108.3 | 102.7 | 323.8 | 315.1 | ||||||||||||
Ireland | 115.2 | 105.2 | 341.9 | 313.2 | ||||||||||||
Poland | 110.9 | 110.6 | 340.6 | 334.8 | ||||||||||||
Hungary | 63.7 | 62.1 | 190.9 | 182.9 | ||||||||||||
The Czech Republic | 54 | 55.4 | 166.1 | 169.6 | ||||||||||||
Romania | 34.7 | 31.1 | 103.6 | 97.1 | ||||||||||||
Slovakia | 15.8 | 14.7 | 47.2 | 45.4 | ||||||||||||
Other (b) | 33.4 | 29 | 96.7 | 86.1 | ||||||||||||
Total European Operations Division | 3,947.80 | 2,148.80 | 9,005.20 | 6,493.50 | ||||||||||||
Chellomedia: | ||||||||||||||||
Poland | 18 | 22.3 | 62.5 | 78.9 | ||||||||||||
The Netherlands | 22.8 | 20.6 | 71.9 | 66.2 | ||||||||||||
Spain | 13.3 | 15.9 | 45.1 | 49.6 | ||||||||||||
Hungary | 16.8 | 13.6 | 49.5 | 43 | ||||||||||||
Other (c) | 54.2 | 47.6 | 159.6 | 123.6 | ||||||||||||
Total Chellomedia | 125.1 | 120 | 388.6 | 361.3 | ||||||||||||
Chile | 244.8 | 241 | 747.9 | 692.3 | ||||||||||||
Puerto Rico | 74.7 | 30.3 | 221.9 | 90 | ||||||||||||
Intersegment eliminations and other | (21.2 | ) | (21.0 | ) | (62.8 | ) | (56.5 | ) | ||||||||
Total | $ | 4,371.20 | $ | 2,519.10 | $ | 10,300.80 | $ | 7,580.60 | ||||||||
_______________ | ||||||||||||||||
(a) | The amount presented for the 2013 nine-month period reflects the post-acquisition revenue of Virgin Media from June 8, 2013 through September 30, 2013. | |||||||||||||||
(b) | Primarily represents revenue of UPC DTH from customers located in Hungary, the Czech Republic, Romania and Slovakia. | |||||||||||||||
(c) | Chellomedia’s other geographic segments are located primarily in the U.K., Latin America, Portugal, the Czech Republic, Romania, Slovakia and Italy. |
Subsequent_Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
Subsequent Event | |
On October 28, 2013, we entered into an agreement to sell substantially all of Chellomedia’s assets to AMC Networks Inc. for €750.0 million ($1,014.9 million) in cash (the Chellomedia Transaction). The assets to be disposed of pursuant to the Chellomedia Transaction exclude Chellomedia's premium sports and film channels in the Netherlands. Closing of the Chellomedia Transaction, which is subject to a limited number of conditions, is not conditioned on any regulatory approvals and is expected to occur in the first quarter of 2014. If the closing conditions have not been satisfied by August 14, 2014, the agreement with respect to the Chellomedia Transaction will automatically terminate, unless otherwise extended. If the Chellomedia Transaction is completed, we expect that we would recognize a gain. We anticipate that we will begin reporting Chellomedia as a discontinued operation in our Annual Report on Form 10-K for the year ended December 31, 2013. |
Acquisitions_and_Dispositions_
Acquisitions and Dispositions (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Austar [Member] | ' | |||||||||||||||
Business Acquisition [Line Items] | ' | |||||||||||||||
Schedule of Business Acquisitions and Dispositions | ' | |||||||||||||||
The operating results of Austar for the nine months ended September 30, 2012 are summarized in the following table: | ||||||||||||||||
Nine months ended | ||||||||||||||||
September 30, 2012 (a) | ||||||||||||||||
in millions | ||||||||||||||||
Revenue | $ | 293.7 | ||||||||||||||
Operating income | $ | 78.7 | ||||||||||||||
Earnings before income taxes and noncontrolling interests | $ | 49.6 | ||||||||||||||
Income tax expense | $ | (14.1 | ) | |||||||||||||
Earnings from discontinued operation attributable to Liberty Global shareholders, net of taxes | $ | 15.6 | ||||||||||||||
_______________ | ||||||||||||||||
(a) | Represents the operating results of Austar through May 23, 2012, the date the sale of Austar was completed. | |||||||||||||||
Liberty Puerto Rico | ' | |||||||||||||||
Business Acquisition [Line Items] | ' | |||||||||||||||
Pro Forma Information for Significant Acquisitions | ' | |||||||||||||||
The pro forma adjustments are based on certain assumptions that we believe are reasonable. | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
in millions, except per share amounts | ||||||||||||||||
Revenue: | ||||||||||||||||
Continuing operations | $ | 4,371.20 | $ | 4,040.70 | $ | 13,070.50 | $ | 12,157.30 | ||||||||
Discontinued operation | — | 106.5 | — | 293.7 | ||||||||||||
Total | $ | 4,371.20 | $ | 4,147.20 | $ | 13,070.50 | $ | 12,451.00 | ||||||||
Net earnings (loss) attributable to Liberty Global shareholders | $ | (830.1 | ) | $ | (56.9 | ) | $ | (1,157.2 | ) | $ | 270.1 | |||||
Basic and diluted earnings (loss) attributable to Liberty Global shareholders per share | $ | (2.09 | ) | $ | (0.14 | ) | $ | (2.90 | ) | $ | 0.65 | |||||
Virgin Media Acquisition [Member] | ' | |||||||||||||||
Business Acquisition [Line Items] | ' | |||||||||||||||
Schedule of Business Acquisitions and Dispositions | ' | |||||||||||||||
In this regard, the equity and cash consideration paid to acquire Virgin Media is set forth below (in millions): | ||||||||||||||||
Class A ordinary shares (a) | $ | 5,354.60 | ||||||||||||||
Class C ordinary shares (a) | 3,750.30 | |||||||||||||||
Cash (b) | 4,760.20 | |||||||||||||||
Fair value of the vested portion of Virgin Media stock incentive awards (c) | 270.4 | |||||||||||||||
Total equity and cash consideration | $ | 14,135.50 | ||||||||||||||
_______________ | ||||||||||||||||
(a) | Represents the value assigned to the 70,233,842 Class A and 52,444,170 Class C ordinary shares issued to Virgin Media shareholders in connection with the Virgin Media Acquisition. These amounts are based on (i) the exchange ratios specified by the Virgin Media Merger Agreement, (ii) the closing per share price on June 7, 2013 of Series A and Series C LGI common stock of $76.24 and $71.51, respectively, and (iii) the 272,013,333 outstanding shares of Virgin Media common stock at June 7, 2013. | |||||||||||||||
(b) | Represents the cash consideration paid in connection with the Virgin Media Acquisition. This amount is based on (i) the $17.50 per share cash consideration specified by the Virgin Media Merger Agreement and (ii) the 272,013,333 outstanding shares of Virgin Media common stock at June 7, 2013. | |||||||||||||||
(c) | Represents the portion of the estimated fair value of the Virgin Media stock incentive awards that are attributable to services provided prior to the June 7, 2013 acquisition date. The estimated fair value is based on the attributes of the 13.03 million outstanding Virgin Media stock incentive awards at June 7, 2013, including the market price of the underlying Virgin Media common stock. The outstanding Virgin Media stock incentive awards at June 7, 2013 include 9.86 million stock options that have been valued using Black Scholes option valuations. In addition, Virgin Media’s stock incentive awards at June 7, 2013 included 3.17 million restricted stock units that included performance conditions and, in certain cases, market conditions. Those restricted stock units with market conditions have been valued using Monte Carlo simulation models. | |||||||||||||||
Schedule of Preliminary Purchase Price and Opening Balance Sheet | ' | |||||||||||||||
A summary of the preliminary purchase price and opening balance sheet for the Virgin Media Acquisition at the June 7, 2013 acquisition date is presented in the following table (in millions): | ||||||||||||||||
Cash and cash equivalents | $ | 694.6 | ||||||||||||||
Other current assets | 935.9 | |||||||||||||||
Property and equipment, net | 9,863.10 | |||||||||||||||
Goodwill (a) | 9,020.20 | |||||||||||||||
Intangible assets subject to amortization (b) | 3,925.80 | |||||||||||||||
Other assets, net | 4,236.60 | |||||||||||||||
Current portion of debt and capital lease obligations | (1,184.5 | ) | ||||||||||||||
Other accrued and current liabilities (c) (d) | (1,892.5 | ) | ||||||||||||||
Long-term debt and capital lease obligations | (8,477.4 | ) | ||||||||||||||
Other long-term liabilities (c) | (1,326.3 | ) | ||||||||||||||
Additional paid-in capital (e) | (1,660.0 | ) | ||||||||||||||
Total purchase price (f) | $ | 14,135.50 | ||||||||||||||
__________________ | ||||||||||||||||
(a) | The goodwill recognized in connection with the Virgin Media Acquisition is primarily attributable to (i) the ability to take advantage of Virgin Media’s existing advanced broadband communications network to gain immediate access to potential customers and (ii) substantial synergies that are expected to be achieved through the integration of Virgin Media with our other broadband communications operations in Europe. | |||||||||||||||
(b) | Amount primarily includes intangible assets related to customer relationships. At June 7, 2013, the weighted average useful life of Virgin Media’s intangible assets was approximately seven years. | |||||||||||||||
(c) | No amounts have been allocated to deferred revenue with respect to the ongoing performance obligations associated with Virgin Media's business-to-business (B2B) service contracts, as our view is that the remaining fees to be received under these contracts approximate fair value given our estimates of the costs associated with these ongoing obligations. Our policy is to defer upfront installation and certain nonrecurring fees received on B2B contracts where we maintain ownership of the installed equipment, which generally is the case with Virgin Media's B2B contracts. Under our policy, the deferred fees are amortized into revenue on a straight-line basis over the life of the underlying service contract. | |||||||||||||||
(d) | Amount includes a $35.6 million liability that was recorded to adjust an unfavorable capacity contract to its estimated fair value. This amount will be amortized through the March 31, 2014 expiration date of the contract as a reduction of Virgin Media's operating expenses so that the net effect of this amortization and the payments required under the contract approximate market rates. During the period from June 8, 2013 through September 30, 2013, $11.2 million of this liability was amortized. | |||||||||||||||
(e) | Represents the equity component of the VM Convertible Notes (as defined and described in note 7). During the period from June 7, 2013 through September 30, 2013, 94.4% of the VM Convertible Notes were exchanged for Class A and Class C ordinary shares and cash pursuant to the terms of the VM Convertible Notes Indenture. For additional information, see note 7. | |||||||||||||||
(f) | Excludes direct acquisition costs of $50.3 million. |
Investments_Tables
Investments (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Investments [Abstract] | ' | ||||||||
Schedule of Investments by Accounting Method | ' | ||||||||
The details of our investments are set forth below: | |||||||||
Accounting Method | September 30, | December 31, | |||||||
2013 | 2012 | ||||||||
in millions | |||||||||
Fair value: | |||||||||
Ziggo (a): | |||||||||
Not subject to re-use rights (33.9 million shares) | $ | 1,373.90 | $ | — | |||||
Subject to re-use rights (23.1 million shares) | 935.4 | — | |||||||
Total — Ziggo | 2,309.30 | — | |||||||
Sumitomo (b) | 614.5 | 579.7 | |||||||
Other (c) | 382.2 | 368.2 | |||||||
Total — fair value | 3,306.00 | 947.9 | |||||||
Equity | 0.6 | 1.7 | |||||||
Cost | 0.5 | 0.5 | |||||||
Total | $ | 3,307.10 | $ | 950.1 | |||||
_______________ | |||||||||
(a) | During the first nine months of 2013, we acquired an aggregate of 57,000,738 shares of Ziggo N.V. (Ziggo), a publicly-traded company in the Netherlands, at an average price of €26.40 ($35.73) per share, for a total investment of €1,505.0 million ($2,036.5 million). Ziggo is the largest cable operator in the Netherlands in terms of customers. As a result of these investments, we effectively owned 28.5% of the outstanding shares of Ziggo at September 30, 2013. At September 30, 2013, the market price of Ziggo shares was €29.94 ($40.51) per share. In April 2013, LGE HoldCo V BV (LGE HoldCo), our wholly-owned subsidiary, entered into a limited recourse margin loan agreement (the Ziggo Margin Loan) with respect to a portion of our investment in Ziggo, and in July 2013, we entered into a share collar (the Ziggo Collar) and secured borrowing arrangement (the Ziggo Collar Loan) with respect to a portion of our owned Ziggo shares. All but 4,743,738 of the Ziggo shares that we owned at September 30, 2013 were pledged as collateral under one or the other of these two arrangements. During the second and third quarters of 2013, we received aggregate cash dividends from Ziggo of $78.4 million after taking into account the impact of the Ziggo Collar. For additional information regarding the Ziggo Collar Loan and the Ziggo Collar, including a description of the related re-use rights and the impact on the dividends we receive on our Ziggo shares, see note 4. For additional information concerning the Ziggo Margin Loan, see note 7. | ||||||||
(b) | At September 30, 2013, we owned 45,652,043 shares of Sumitomo Corporation (Sumitomo) common stock. Our Sumitomo shares represented less than 5% of Sumitomo’s outstanding common stock at September 30, 2013. These shares secure a loan (the Sumitomo Collar Loan) to Liberty Programming Japan LLC, our wholly-owned subsidiary. | ||||||||
(c) | Includes various fair value investments, the most significant of which is our 17.0% interest in Canal+ Cyfrowy S.A., a privately-held DTH operator in Poland. |
Derivative_Instruments_Tables
Derivative Instruments (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Derivative [Line Items] | ' | |||||||||||||||||||||||
Schedule of Fair Values of Derivative Instrument Assets and Liabilities | ' | |||||||||||||||||||||||
The following table provides details of the fair values of our derivative instrument assets and liabilities: | ||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||
Current (a) | Long-term (a) | Total | Current (a) | Long-term (a) | Total | |||||||||||||||||||
in millions | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Cross-currency and interest rate derivative contracts (b) | $ | 183.9 | $ | 510 | $ | 693.9 | $ | 191.3 | $ | 467.1 | $ | 658.4 | ||||||||||||
Equity-related derivative instruments (c) | — | 454.8 | 454.8 | — | 594.6 | 594.6 | ||||||||||||||||||
Foreign currency forward contracts | 0.9 | 0.4 | 1.3 | 0.7 | 0.4 | 1.1 | ||||||||||||||||||
Other | 1.6 | 3.2 | 4.8 | 1.3 | 3 | 4.3 | ||||||||||||||||||
Total | $ | 186.4 | $ | 968.4 | $ | 1,154.80 | $ | 193.3 | $ | 1,065.10 | $ | 1,258.40 | ||||||||||||
Liabilities: | ||||||||||||||||||||||||
Cross-currency and interest rate derivative contracts (b) | $ | 649.1 | $ | 1,958.20 | $ | 2,607.30 | $ | 543.2 | $ | 2,156.30 | $ | 2,699.50 | ||||||||||||
Equity-related derivative instruments (c) | 15.9 | 14.6 | 30.5 | 21.6 | — | 21.6 | ||||||||||||||||||
Foreign currency forward contracts | 8.2 | 5.4 | 13.6 | 4.5 | 3.6 | 8.1 | ||||||||||||||||||
Other | 1.8 | 1.3 | 3.1 | 0.6 | 0.7 | 1.3 | ||||||||||||||||||
Total | $ | 675 | $ | 1,979.50 | $ | 2,654.50 | $ | 569.9 | $ | 2,160.60 | $ | 2,730.50 | ||||||||||||
_______________ | ||||||||||||||||||||||||
(a) | Our current derivative assets are included in other current assets and our long-term derivative assets and liabilities are included in other assets, net, and other long-term liabilities, respectively, in our condensed consolidated balance sheets. | |||||||||||||||||||||||
(b) | We consider credit risk in our fair value assessments. As of September 30, 2013 and December 31, 2012, (i) the fair values of our cross-currency and interest rate derivative contracts that represented assets have been reduced by credit risk valuation adjustments aggregating $17.7 million and $17.2 million, respectively, and (ii) the fair values of our cross-currency and interest rate derivative contracts that represented liabilities have been reduced by credit risk valuation adjustments aggregating $201.8 million and $156.5 million, respectively. The adjustments to our derivative assets relate to the risk associated with counterparty nonperformance and the adjustments to our derivative liabilities relate to credit risk associated with our own nonperformance. In all cases, the adjustments take into account offsetting liability or asset positions within a given contract. Our determination of credit risk valuation adjustments generally is based on our and our counterparties’ credit risks, as observed in the credit default swap market and market quotations for certain of our subsidiaries’ debt instruments, as applicable. The changes in the credit risk valuation adjustments associated with our cross-currency and interest rate derivative contracts resulted in net gains of $85.1 million and $39.6 million during the three and nine months ended September 30, 2013, respectively, and net losses of $29.9 million and $78.2 million during the three and nine months ended September 30, 2012, respectively. These amounts are included in realized and unrealized losses on derivative instruments, net, in our condensed consolidated statements of operations. For further information concerning our fair value measurements, see note 5. | |||||||||||||||||||||||
(c) | The fair value of our equity-related derivative instruments relates to (i) the Virgin Media Capped Calls, as defined and described below, (ii) the Ziggo Collar, and (iii) the share collar (the Sumitomo Collar) with respect to the Sumitomo shares held by our company. The fair values of the Ziggo Collar and the Sumitomo Collar do not include credit risk valuation adjustments as we have assumed that any losses incurred by our company in the event of nonperformance by the respective counterparty would be, subject to relevant insolvency laws, fully offset against amounts we owe to such counterparty pursuant to the secured borrowing arrangements of the Ziggo Collar and Sumitomo Collar. | |||||||||||||||||||||||
Schedule of Realized and Unrealized Losses on Derivative Instruments | ' | |||||||||||||||||||||||
The details of our realized and unrealized losses on derivative instruments, net, are as follows: | ||||||||||||||||||||||||
Three months ended | Nine months ended | |||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Continuing operations: | ||||||||||||||||||||||||
Cross-currency and interest rate derivative contracts | $ | (727.2 | ) | $ | (281.7 | ) | $ | (384.2 | ) | $ | (591.3 | ) | ||||||||||||
Equity-related derivative instruments: | ||||||||||||||||||||||||
Sumitomo Collar | (34.3 | ) | 47.9 | (174.3 | ) | (11.7 | ) | |||||||||||||||||
Ziggo Collar | (65.7 | ) | — | (65.7 | ) | — | ||||||||||||||||||
Other | 5.8 | — | (3.8 | ) | — | |||||||||||||||||||
Total equity-related derivative instruments | (94.2 | ) | 47.9 | (243.8 | ) | (11.7 | ) | |||||||||||||||||
Foreign currency forward contracts | (55.3 | ) | (2.8 | ) | (56.4 | ) | (12.5 | ) | ||||||||||||||||
Other | 0.4 | (0.6 | ) | (0.8 | ) | 1.6 | ||||||||||||||||||
Total — continuing operations | $ | (876.3 | ) | $ | (237.2 | ) | $ | (685.2 | ) | $ | (613.9 | ) | ||||||||||||
Discontinued operation | $ | — | $ | — | $ | — | $ | 4.6 | ||||||||||||||||
Schedule of Cash Received (Paid) Related to Derivative Instruments Statement of Cash Flows Location | ' | |||||||||||||||||||||||
The classification of these cash inflows (outflows) are as follows: | ||||||||||||||||||||||||
Nine months ended | ||||||||||||||||||||||||
September 30, | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Continuing operations: | ||||||||||||||||||||||||
Operating activities | $ | (393.4 | ) | $ | (452.8 | ) | ||||||||||||||||||
Investing activities | (66.6 | ) | 23.7 | |||||||||||||||||||||
Financing activities | 537 | (113.1 | ) | |||||||||||||||||||||
Total — continuing operations | $ | 77 | $ | (542.2 | ) | |||||||||||||||||||
Discontinued operation | $ | — | $ | (6.6 | ) | |||||||||||||||||||
Currency Swap [Member] | ' | |||||||||||||||||||||||
Derivative [Line Items] | ' | |||||||||||||||||||||||
Schedule of Derivative Instruments | ' | |||||||||||||||||||||||
Cross-currency Swaps: | ||||||||||||||||||||||||
The terms of our outstanding cross-currency swap contracts at September 30, 2013 are as follows: | ||||||||||||||||||||||||
Subsidiary / | Notional | Notional | Interest rate due from | Interest rate due to | ||||||||||||||||||||
Final maturity date (a) | amount | amount | counterparty | counterparty | ||||||||||||||||||||
due from | due to | |||||||||||||||||||||||
counterparty | counterparty | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Virgin Media Investment Holdings Limited (VMIH), a subsidiary of Virgin Media: | ||||||||||||||||||||||||
Feb-22 | $ | 1,400.00 | £ | 873.6 | 5.01% | 5.35% | ||||||||||||||||||
Jun-20 | $ | 1,384.60 | £ | 901.4 | 6 mo. LIBOR + 2.75% | 6 mo. GBP LIBOR + 3.18% | ||||||||||||||||||
Oct-20 | $ | 1,370.40 | £ | 881.6 | 6 mo. LIBOR + 2.75% | 6 mo. GBP LIBOR + 3.10% | ||||||||||||||||||
Jan-18 | $ | 1,000.00 | £ | 615.7 | 6.50% | 7.02% | ||||||||||||||||||
Oct-19 | $ | 500 | £ | 302.3 | 8.38% | 9.02% | ||||||||||||||||||
Apr-19 | $ | 291.5 | £ | 186.2 | 5.38% | 5.49% | ||||||||||||||||||
November 2016 (b) | $ | 55 | £ | 27.7 | 6.50% | 7.03% | ||||||||||||||||||
UPC Holding: | ||||||||||||||||||||||||
April 2016 (b) | $ | 400 | CHF | 441.8 | 9.88% | 9.87% | ||||||||||||||||||
UPC Broadband Holding BV (UPC Broadband Holding), a subsidiary of UPC Holding: | ||||||||||||||||||||||||
Nov-19 | $ | 500 | € | 362.9 | 7.25% | 7.74% | ||||||||||||||||||
January 2015 - July 2021 | $ | 312 | € | 240 | 6 mo. LIBOR + 2.50% | 6 mo. EURIBOR + 2.87% | ||||||||||||||||||
Oct-20 | $ | 300 | € | 219.1 | 6 mo. LIBOR + 3.00% | 6 mo. EURIBOR + 3.04% | ||||||||||||||||||
January 2017 - July 2021 | $ | 262.1 | € | 194.1 | 6 mo. LIBOR + 2.50% | 6 mo. EURIBOR + 2.51% | ||||||||||||||||||
Oct-17 | $ | 200 | € | 145.7 | 6 mo. LIBOR + 3.50% | 6 mo. EURIBOR + 3.33% | ||||||||||||||||||
Jan-20 | $ | 197.5 | € | 150.5 | 6 mo. LIBOR + 4.92% | 6 mo. EURIBOR + 4.91% | ||||||||||||||||||
September 2014 - July 2021 | $ | 128 | € | 97.2 | 6 mo. LIBOR + 2.50% | 6 mo. EURIBOR + 2.90% | ||||||||||||||||||
Dec-16 | $ | 340 | CHF | 370.9 | 6 mo. LIBOR + 3.50% | 6 mo. CHF LIBOR + 4.01% | ||||||||||||||||||
January 2017 - July 2021 | $ | 300 | CHF | 278.3 | 6 mo. LIBOR + 2.50% | 6 mo. CHF LIBOR + 2.46% | ||||||||||||||||||
January 2015 - July 2021 | $ | 200 | CHF | 186 | 6 mo. LIBOR + 2.50% | 6 mo. CHF LIBOR + 2.55% | ||||||||||||||||||
Dec-14 | $ | 171.5 | CHF | 187.1 | 6 mo. LIBOR + 2.75% | 6 mo. CHF LIBOR + 2.95% | ||||||||||||||||||
Dec-14 | € | 898.4 | CHF | 1,466.00 | 6 mo. EURIBOR + 1.68% | 6 mo. CHF LIBOR + 1.94% | ||||||||||||||||||
January 2015 - September 2022 | € | 383.8 | CHF | 477 | 6 mo. EURIBOR + 2.00% | 6 mo. CHF LIBOR + 2.22% | ||||||||||||||||||
December 2014 - December 2016 | € | 360.4 | CHF | 589 | 6 mo. EURIBOR + 3.75% | 6 mo. CHF LIBOR + 3.94% | ||||||||||||||||||
Jan-20 | € | 175 | CHF | 258.6 | 7.63% | 6.76% | ||||||||||||||||||
Jul-20 | € | 107.4 | CHF | 129 | 6 mo. EURIBOR + 3.00% | 6 mo. CHF LIBOR + 3.28% | ||||||||||||||||||
Jan-17 | € | 75 | CHF | 110.9 | 7.63% | 6.98% | ||||||||||||||||||
Jul-15 | € | 123.8 | CLP | 86,500.00 | 2.50% | 5.84% | ||||||||||||||||||
Subsidiary / | Notional | Notional | Interest rate due from | Interest rate due to | ||||||||||||||||||||
Final maturity date (a) | amount | amount | counterparty | counterparty | ||||||||||||||||||||
due from | due to | |||||||||||||||||||||||
counterparty | counterparty | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Dec-15 | € | 69.1 | CLP | 53,000.00 | 3.50% | 5.75% | ||||||||||||||||||
Dec-14 | € | 305.8 | CZK | 8,818.70 | 5.48% | 5.47% | ||||||||||||||||||
Jan-15 | € | 60 | CZK | 1,703.10 | 5.50% | 6.05% | ||||||||||||||||||
January 2015 - January 2017 | € | 60 | CZK | 1,703.10 | 5.50% | 6.99% | ||||||||||||||||||
Jul-17 | € | 39.6 | CZK | 1,000.00 | 3.00% | 3.75% | ||||||||||||||||||
Jan-15 | € | 260 | HUF | 75,570.00 | 5.50% | 9.40% | ||||||||||||||||||
January 2015 - January 2017 | € | 260 | HUF | 75,570.00 | 5.50% | 10.56% | ||||||||||||||||||
Dec-16 | € | 150 | HUF | 43,367.50 | 5.50% | 9.20% | ||||||||||||||||||
Jul-18 | € | 78 | HUF | 19,500.00 | 5.50% | 9.15% | ||||||||||||||||||
Jan-15 | € | 245 | PLN | 1,000.60 | 5.50% | 7.60% | ||||||||||||||||||
January 2015 - January 2017 | € | 245 | PLN | 1,000.60 | 5.50% | 9.03% | ||||||||||||||||||
Sep-16 | € | 200 | PLN | 892.7 | 6.00% | 8.19% | ||||||||||||||||||
Dec-14 | € | 155.5 | PLN | 605 | 5.50% | 7.33% | ||||||||||||||||||
Jul-17 | € | 82 | PLN | 318 | 3.00% | 5.60% | ||||||||||||||||||
Unitymedia Hessen GmbH & Co. KG (Unitymedia Hessen), a subsidiary of Unitymedia KabelBW: | ||||||||||||||||||||||||
Jan-21 | $ | 1,000.00 | € | 688.2 | 5.50% | 5.58% | ||||||||||||||||||
Mar-19 | $ | 459.3 | € | 326.5 | 7.50% | 7.98% | ||||||||||||||||||
_______________ | ||||||||||||||||||||||||
(a) | For each subsidiary, the notional amount of multiple derivative instruments that mature within the same calendar month are shown in the aggregate and interest rates are presented on a weighted average basis. For derivative instruments that were in effect as of September 30, 2013, we present a single date that represents the applicable final maturity date. For derivative instruments that become effective subsequent to September 30, 2013, we present a range of dates that represents the period covered by the applicable derivative instruments. | |||||||||||||||||||||||
(b) | Unlike the other cross-currency swaps presented in this table, the identified cross-currency swaps do not involve the exchange of notional amounts at the inception and maturity of the instruments. Accordingly, the only cash flows associated with these instruments are interest payments and receipts. | |||||||||||||||||||||||
Cross-currency and interest rate derivative contracts | ' | |||||||||||||||||||||||
Derivative [Line Items] | ' | |||||||||||||||||||||||
Schedule of Derivative Instruments | ' | |||||||||||||||||||||||
Cross-currency Interest Rate Swaps: | ||||||||||||||||||||||||
The terms of our outstanding cross-currency interest rate swap contracts at September 30, 2013 are as follows: | ||||||||||||||||||||||||
Subsidiary / Final maturity date (a) | Notional amount | Notional amount | Interest rate due from | Interest rate due to | ||||||||||||||||||||
due from | due to | counterparty | counterparty | |||||||||||||||||||||
counterparty | counterparty | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
VMIH: | ||||||||||||||||||||||||
Jan-21 | $ | 500 | £ | 308.9 | 5.25% | 6 mo. GBP LIBOR + 1.94% | ||||||||||||||||||
UPC Broadband Holding: | ||||||||||||||||||||||||
Jul-18 | $ | 525 | € | 396.3 | 6 mo. LIBOR + 1.99% | 6.25% | ||||||||||||||||||
September 2014 - January 2020 | $ | 327.5 | € | 249.5 | 6 mo. LIBOR + 4.92% | 7.52% | ||||||||||||||||||
Dec-14 | $ | 300 | € | 226.5 | 6 mo. LIBOR + 1.75% | 5.78% | ||||||||||||||||||
December 2014 - July 2018 | $ | 300 | € | 226.5 | 6 mo. LIBOR + 2.58% | 6.80% | ||||||||||||||||||
Dec-16 | $ | 296.6 | € | 219.8 | 6 mo. LIBOR + 3.50% | 6.75% | ||||||||||||||||||
Nov-19 | $ | 250 | CHF | 226.8 | 7.25% | 6 mo. CHF LIBOR + 5.01% | ||||||||||||||||||
Jan-20 | $ | 225 | CHF | 206.3 | 6 mo. LIBOR + 4.81% | 5.44% | ||||||||||||||||||
Dec-14 | $ | 340 | CLP | 181,322.00 | 6 mo. LIBOR + 1.75% | 8.76% | ||||||||||||||||||
Dec-16 | $ | 201.5 | RON | 489.3 | 6 mo. LIBOR + 3.50% | 14.01% | ||||||||||||||||||
Dec-14 | € | 134.2 | CLP | 107,800.00 | 6 mo. EURIBOR + 2.00% | 10.00% | ||||||||||||||||||
VTR: | ||||||||||||||||||||||||
Sep-14 | $ | 441.8 | CLP | 244,508.60 | 6 mo. LIBOR + 3.00% | 11.16% | ||||||||||||||||||
_______________ | ||||||||||||||||||||||||
(a) | For each subsidiary, the notional amount of multiple derivative instruments that mature within the same calendar month are shown in the aggregate and interest rates are presented on a weighted average basis. For derivative instruments that were in effect as of September 30, 2013, we present a single date that represents the applicable final maturity date. For derivative instruments that become effective subsequent to September 30, 2013, we present a range of dates that represents the period covered by the applicable derivative instruments. | |||||||||||||||||||||||
Interest Rate Swap [Member] | ' | |||||||||||||||||||||||
Derivative [Line Items] | ' | |||||||||||||||||||||||
Schedule of Derivative Instruments | ' | |||||||||||||||||||||||
Interest Rate Swaps: | ||||||||||||||||||||||||
The terms of our outstanding interest rate swap contracts at September 30, 2013 are as follows: | ||||||||||||||||||||||||
Subsidiary / Final maturity date (a) | Notional amount | Interest rate due from | Interest rate due to | |||||||||||||||||||||
counterparty | counterparty | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
VMIH: | ||||||||||||||||||||||||
Oct-18 | £ | 2,155.00 | 6 mo. GBP LIBOR | 1.52% | ||||||||||||||||||||
Jan-21 | £ | 650 | 5.50% | 6 mo. GBP LIBOR + 1.84% | ||||||||||||||||||||
Jan-21 | £ | 650 | 6 mo. GBP LIBOR + 1.84% | 3.87% | ||||||||||||||||||||
Dec-15 | £ | 600 | 6 mo. GBP LIBOR | 2.86% | ||||||||||||||||||||
Apr-18 | £ | 300 | 6 mo. GBP LIBOR | 1.37% | ||||||||||||||||||||
UPC Broadband Holding: | ||||||||||||||||||||||||
Jul-20 | $ | 1,000.00 | 6.63% | 6 mo. LIBOR + 3.03% | ||||||||||||||||||||
Jan-22 | $ | 750 | 6.88% | 6 mo. LIBOR + 4.89% | ||||||||||||||||||||
Jan-14 | € | 2,750.00 | 1 mo. EURIBOR + 3.76% | 6 mo. EURIBOR + 3.52% | ||||||||||||||||||||
Dec-14 | € | 1,471.50 | 6 mo. EURIBOR | 3.55% | ||||||||||||||||||||
Jul-20 | € | 750 | 6.38% | 6 mo. EURIBOR + 3.16% | ||||||||||||||||||||
January 2015 - January 2021 | € | 750 | 6 mo. EURIBOR | 2.57% | ||||||||||||||||||||
January 2015 - December 2016 | € | 500 | 6 mo. EURIBOR | 4.32% | ||||||||||||||||||||
Jul-14 | € | 337 | 6 mo. EURIBOR | 3.94% | ||||||||||||||||||||
January 2015 - January 2023 | € | 290 | 6 mo. EURIBOR | 2.79% | ||||||||||||||||||||
Dec-15 | € | 263.3 | 6 mo. EURIBOR | 3.97% | ||||||||||||||||||||
Jan-23 | € | 210 | 6 mo. EURIBOR | 2.88% | ||||||||||||||||||||
Jan-14 | € | 185 | 6 mo. EURIBOR | 4.04% | ||||||||||||||||||||
January 2015 - January 2018 | € | 175 | 6 mo. EURIBOR | 3.74% | ||||||||||||||||||||
Jul-20 | € | 171.3 | 6 mo. EURIBOR | 4.32% | ||||||||||||||||||||
January 2015 - July 2020 | € | 171.3 | 6 mo. EURIBOR | 3.95% | ||||||||||||||||||||
January 2015 - November 2021 | € | 107 | 6 mo. EURIBOR | 2.89% | ||||||||||||||||||||
Dec-13 | € | 90.5 | 6 mo. EURIBOR | 0.90% | ||||||||||||||||||||
Dec-14 | CHF | 2,380.00 | 6 mo. CHF LIBOR | 2.81% | ||||||||||||||||||||
January 2015 - January 2022 | CHF | 711.5 | 6 mo. CHF LIBOR | 1.89% | ||||||||||||||||||||
January 2015 - January 2021 | CHF | 500 | 6 mo. CHF LIBOR | 1.65% | ||||||||||||||||||||
January 2015 - January 2018 | CHF | 400 | 6 mo. CHF LIBOR | 2.51% | ||||||||||||||||||||
January 2015 - December 2016 | CHF | 370.9 | 6 mo. CHF LIBOR | 3.82% | ||||||||||||||||||||
January 2015 - November 2019 | CHF | 226.8 | 6 mo. CHF LIBOR + 5.01% | 6.88% | ||||||||||||||||||||
Telenet International Finance S.a.r.l (Telenet International): | ||||||||||||||||||||||||
July 2017 - July 2019 | € | 600 | 3 mo. EURIBOR | 3.29% | ||||||||||||||||||||
Aug-15 | € | 350 | 3 mo. EURIBOR | 3.54% | ||||||||||||||||||||
August 2015 - December 2018 | € | 305 | 3 mo. EURIBOR | 2.46% | ||||||||||||||||||||
Subsidiary / Final maturity date (a) | Notional amount | Interest rate due from | Interest rate due to | |||||||||||||||||||||
counterparty | counterparty | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
December 2015 - June 2021 | € | 250 | 3 mo. EURIBOR | 3.49% | ||||||||||||||||||||
Jul-19 | € | 200 | 3 mo. EURIBOR | 3.55% | ||||||||||||||||||||
Jul-17 | € | 150 | 3 mo. EURIBOR | 3.55% | ||||||||||||||||||||
July 2017 - December 2018 | € | 70 | 3 mo. EURIBOR | 3.00% | ||||||||||||||||||||
Jun-21 | € | 55 | 3 mo. EURIBOR | 2.29% | ||||||||||||||||||||
Jun-15 | € | 50 | 3 mo. EURIBOR | 3.55% | ||||||||||||||||||||
Dec-17 | € | 50 | 3 mo. EURIBOR | 3.52% | ||||||||||||||||||||
December 2015 - July 2019 | € | 50 | 3 mo. EURIBOR | 3.40% | ||||||||||||||||||||
December 2017 - July 2019 | € | 50 | 3 mo. EURIBOR | 2.99% | ||||||||||||||||||||
July 2017 - June 2021 | € | 50 | 3 mo. EURIBOR | 3.00% | ||||||||||||||||||||
August 2015 - June 2021 | € | 45 | 3 mo. EURIBOR | 3.20% | ||||||||||||||||||||
_______________ | ||||||||||||||||||||||||
(a) | For each subsidiary, the notional amount of multiple derivative instruments that mature within the same calendar month are shown in the aggregate and interest rates are presented on a weighted average basis. For derivative instruments that were in effect as of September 30, 2013, we present a single date that represents the applicable final maturity date. For derivative instruments that become effective subsequent to September 30, 2013, we present a range of dates that represents the period covered by the applicable derivative instruments. | |||||||||||||||||||||||
Interest Rate Cap [Member] | ' | |||||||||||||||||||||||
Derivative [Line Items] | ' | |||||||||||||||||||||||
Schedule of Derivative Instruments | ' | |||||||||||||||||||||||
Interest Rate Caps | ||||||||||||||||||||||||
Our purchased and sold interest rate cap contracts with respect to EURIBOR are detailed below: | ||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||
Subsidiary / Final maturity date (a) | Notional amount | EURIBOR cap rate | ||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Interest rate caps purchased (b): | ||||||||||||||||||||||||
Liberty Global Europe Financing BV (LGE Financing), the immediate parent of UPC Holding: | ||||||||||||||||||||||||
January 2015 - January 2020 | € | 735 | 7.00% | |||||||||||||||||||||
Telenet International: | ||||||||||||||||||||||||
June 2015 - June 2017 | € | 50 | 4.50% | |||||||||||||||||||||
Telenet NV, a subsidiary of Telenet: | ||||||||||||||||||||||||
Dec-17 | € | 1.7 | 6.50% | |||||||||||||||||||||
Dec-17 | € | 1.7 | 5.50% | |||||||||||||||||||||
Interest rate cap sold (c): | ||||||||||||||||||||||||
UPC Broadband Holding: | ||||||||||||||||||||||||
January 2015 - January 2020 | € | 735 | 7.00% | |||||||||||||||||||||
_______________ | ||||||||||||||||||||||||
(a) | For each subsidiary, the notional amount of multiple derivative instruments that mature within the same calendar month are shown in the aggregate. For derivative instruments that were in effect as of September 30, 2013, we present a single date that represents the applicable final maturity date. For derivative instruments that become effective subsequent to September 30, 2013, we present a range of dates that represents the period covered by the applicable derivative instruments. | |||||||||||||||||||||||
(b) | Our purchased interest rate caps entitle us to receive payments from the counterparty when EURIBOR exceeds the EURIBOR cap rate. | |||||||||||||||||||||||
(c) | Our sold interest rate cap requires that we make payments to the counterparty when EURIBOR exceeds the EURIBOR cap rate. | |||||||||||||||||||||||
Interest Rate Collar [Member] | Telenet International [Member] | ' | |||||||||||||||||||||||
Derivative [Line Items] | ' | |||||||||||||||||||||||
Schedule of Derivative Instruments | ' | |||||||||||||||||||||||
Interest Rate Collars | ||||||||||||||||||||||||
Our interest rate collar contracts establish floor and cap rates with respect to EURIBOR on the indicated notional amounts, as detailed below: | ||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||
Subsidiary / Final maturity date (a) | Notional | EURIBOR floor rate (b) | EURIBOR cap rate (c) | |||||||||||||||||||||
amount | ||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
UPC Broadband Holding: | ||||||||||||||||||||||||
January 2015 - January 2020 | € | 1,135.00 | 1.00% | 3.54% | ||||||||||||||||||||
Telenet International: | ||||||||||||||||||||||||
Jul-17 | € | 950 | 2.00% | 4.00% | ||||||||||||||||||||
_______________ | ||||||||||||||||||||||||
(a) | For each subsidiary, the notional amount of multiple derivative instruments that mature within the same calendar month are shown in the aggregate. For derivative instruments that were in effect as of September 30, 2013, we present a single date that represents the applicable final maturity date. For derivative instruments that become effective subsequent to September 30, 2013, we present a range of dates that represents the period covered by the applicable derivative instruments. | |||||||||||||||||||||||
(b) | We make payments to the counterparty when EURIBOR is less than the EURIBOR floor rate. | |||||||||||||||||||||||
(c) | We receive payments from the counterparty when EURIBOR is greater than the EURIBOR cap rate. | |||||||||||||||||||||||
Foreign Exchange Option [Member] | UPC Holding | ' | |||||||||||||||||||||||
Derivative [Line Items] | ' | |||||||||||||||||||||||
Schedule of Derivative Instruments | ' | |||||||||||||||||||||||
UPC Holding Cross-Currency Options | ||||||||||||||||||||||||
Pursuant to its cross-currency option contracts, UPC Holding has the option to deliver U.S. dollars to the counterparty in exchange for Swiss francs at a fixed exchange rate of 0.7354 Swiss francs per one U.S. dollar, in the notional amounts listed below: | ||||||||||||||||||||||||
Notional amount at | ||||||||||||||||||||||||
Contract expiration date | September 30, 2013 | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Apr-18 | $ | 419.8 | ||||||||||||||||||||||
Oct-16 | $ | 19.8 | ||||||||||||||||||||||
Apr-17 | $ | 19.8 | ||||||||||||||||||||||
Oct-17 | $ | 19.8 | ||||||||||||||||||||||
Foreign currency forward contracts | ' | |||||||||||||||||||||||
Derivative [Line Items] | ' | |||||||||||||||||||||||
Schedule of Derivative Instruments | ' | |||||||||||||||||||||||
Foreign Currency Forwards | ||||||||||||||||||||||||
The following table summarizes our outstanding foreign currency forward contracts at September 30, 2013: | ||||||||||||||||||||||||
Subsidiary | Currency | Currency | Maturity dates | |||||||||||||||||||||
purchased | sold | |||||||||||||||||||||||
forward | forward | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
LGE Financing | $ | 639 | € | 473.8 | October 2013 - October 2014 | |||||||||||||||||||
LGE Financing | € | 279.2 | £ | 235 | Oct-13 | |||||||||||||||||||
UPC Holding | $ | 479 | CHF | 415.1 | October 2016 - April 2018 | |||||||||||||||||||
UPC Broadband Holding | $ | 3.3 | CZK | 64.1 | October 2013 - October 2014 | |||||||||||||||||||
UPC Broadband Holding | € | 58.4 | CHF | 71.9 | October 2013 - October 2014 | |||||||||||||||||||
UPC Broadband Holding | € | 19.5 | CZK | 504.8 | October 2013 - October 2014 | |||||||||||||||||||
UPC Broadband Holding | € | 18.2 | HUF | 5,525.00 | October 2013 - October 2014 | |||||||||||||||||||
UPC Broadband Holding | € | 52 | PLN | 229.2 | October 2013 - October 2014 | |||||||||||||||||||
UPC Broadband Holding | £ | 3 | € | 3.5 | October 2013 - July 2014 | |||||||||||||||||||
UPC Broadband Holding | CHF | 16.5 | € | 13.5 | Oct-13 | |||||||||||||||||||
UPC Broadband Holding | CZK | 300 | € | 11.7 | Oct-13 | |||||||||||||||||||
UPC Broadband Holding | HUF | 4,500.00 | € | 15 | Oct-13 | |||||||||||||||||||
UPC Broadband Holding | PLN | 75 | € | 17.8 | Oct-13 | |||||||||||||||||||
UPC Broadband Holding | RON | 35 | € | 7.8 | Oct-13 | |||||||||||||||||||
Telenet NV | $ | 40.5 | € | 30.7 | October 2013 - September 2014 | |||||||||||||||||||
VTR | $ | 28 | CLP | 14,197.50 | October 2013 - September 2014 | |||||||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Summary of Assets and Liabilities Measured at Fair Value | ' | |||||||||||||||
A summary of our assets and liabilities that are measured at fair value on a recurring basis is as follows: | ||||||||||||||||
Fair value measurements at September 30, 2013 using: | ||||||||||||||||
Description | September 30, | Quoted prices | Significant | Significant | ||||||||||||
2013 | in active | other | unobservable | |||||||||||||
markets for | observable | inputs | ||||||||||||||
identical assets | inputs | (Level 3) | ||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||
in millions | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative instruments: | ||||||||||||||||
Cross-currency and interest rate derivative contracts | $ | 693.9 | $ | — | $ | 693.9 | $ | — | ||||||||
Equity-related derivative instruments | 454.8 | — | — | 454.8 | ||||||||||||
Foreign currency forward contracts | 1.3 | — | 1.3 | — | ||||||||||||
Other | 4.8 | — | 4.8 | — | ||||||||||||
Total derivative instruments | 1,154.80 | — | 700 | 454.8 | ||||||||||||
Investments | 3,306.00 | 2,923.70 | — | 382.3 | ||||||||||||
Total assets | $ | 4,460.80 | $ | 2,923.70 | $ | 700 | $ | 837.1 | ||||||||
Liabilities - derivative instruments: | ||||||||||||||||
Cross-currency and interest rate derivative contracts | $ | 2,607.30 | $ | — | $ | 2,607.30 | $ | — | ||||||||
Equity-related derivative instruments | 30.5 | — | — | 30.5 | ||||||||||||
Foreign currency forward contracts | 13.6 | — | 13.6 | — | ||||||||||||
Other | 3.1 | — | 3.1 | — | ||||||||||||
Total liabilities | $ | 2,654.50 | $ | — | $ | 2,624.00 | $ | 30.5 | ||||||||
Fair value measurements | ||||||||||||||||
at December 31, 2012 using: | ||||||||||||||||
Description | December 31, 2012 | Quoted prices | Significant | Significant | ||||||||||||
in active | other | unobservable | ||||||||||||||
markets for | observable | inputs | ||||||||||||||
identical assets | inputs | (Level 3) | ||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||
in millions | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative instruments: | ||||||||||||||||
Cross-currency and interest rate derivative contracts | $ | 658.4 | $ | — | $ | 658.4 | $ | — | ||||||||
Equity-related derivative instrument | 594.6 | — | — | 594.6 | ||||||||||||
Foreign currency forward contracts | 1.1 | — | 1.1 | — | ||||||||||||
Other | 4.3 | — | 4.3 | — | ||||||||||||
Total derivative instruments | 1,258.40 | — | 663.8 | 594.6 | ||||||||||||
Investments | 947.9 | 579.7 | — | 368.2 | ||||||||||||
Total assets | $ | 2,206.30 | $ | 579.7 | $ | 663.8 | $ | 962.8 | ||||||||
Liabilities - derivative instruments: | ||||||||||||||||
Cross-currency and interest rate derivative contracts | $ | 2,699.50 | $ | — | $ | 2,699.50 | $ | — | ||||||||
Equity-related derivative instrument | 21.6 | — | — | 21.6 | ||||||||||||
Foreign currency forward contracts | 8.1 | — | 8.1 | — | ||||||||||||
Other | 1.3 | — | 1.3 | — | ||||||||||||
Total liabilities | $ | 2,730.50 | $ | — | $ | 2,708.90 | $ | 21.6 | ||||||||
Schedule of Reconciliation of the Beginning and Ending Balances of Assets and Liabilities Measured at Fair Value Using Significant Unobservable, or Level 3, Inputs | ' | |||||||||||||||
A reconciliation of the beginning and ending balances of our assets and liabilities measured at fair value on a recurring basis using significant unobservable, or Level 3, inputs is as follows: | ||||||||||||||||
Investments | Equity-related | Total | ||||||||||||||
derivative | ||||||||||||||||
instruments | ||||||||||||||||
in millions | ||||||||||||||||
Balance of net assets at January 1, 2013 | $ | 368.2 | $ | 573 | $ | 941.2 | ||||||||||
Additions (a) | — | 617.8 | 617.8 | |||||||||||||
Cash settlements of Virgin Media Capped Calls | — | (534.8 | ) | (534.8 | ) | |||||||||||
Gains (losses) included in net loss (b): | ||||||||||||||||
Realized and unrealized losses on derivative instruments, net | — | (243.8 | ) | (243.8 | ) | |||||||||||
Realized and unrealized gains due to changes in fair values of certain investments, net | 15.1 | — | 15.1 | |||||||||||||
Foreign currency translation adjustments and other, net | (1.0 | ) | 12.1 | 11.1 | ||||||||||||
Balance of net assets at September 30, 2013 | $ | 382.3 | $ | 424.3 | $ | 806.6 | ||||||||||
_______________ | ||||||||||||||||
(a) | Amount includes (i) $566.8 million representing the estimated fair value of the Virgin Media Capped Calls on June 7, 2013 and (ii) $51.0 million representing premiums paid associated with the Ziggo Collar. | |||||||||||||||
(b) | Substantially all of the net gains (losses) recognized during the first nine months of 2013 relate to assets and liabilities that we continue to carry on our condensed consolidated balance sheet as of September 30, 2013. |
Longlived_Assets_Tables
Long-lived Assets (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Long-lived Assets [Abstract] | ' | ||||||||||||||||||||||||
Schedule of PP&E | ' | ||||||||||||||||||||||||
The details of our property and equipment and the related accumulated depreciation are set forth below: | |||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||
Distribution systems | $ | 24,619.60 | $ | 15,372.30 | |||||||||||||||||||||
Customer premises equipment | 6,094.60 | 4,162.60 | |||||||||||||||||||||||
Support equipment, buildings and land | 3,534.00 | 2,282.10 | |||||||||||||||||||||||
34,248.20 | 21,817.00 | ||||||||||||||||||||||||
Accumulated depreciation | (10,517.7 | ) | (8,379.4 | ) | |||||||||||||||||||||
Total property and equipment, net | $ | 23,730.50 | $ | 13,437.60 | |||||||||||||||||||||
Schedule of Changes in Carrying Amount of Goodwill | ' | ||||||||||||||||||||||||
Changes in the carrying amount of our goodwill during the nine months ended September 30, 2013 are set forth below: | |||||||||||||||||||||||||
1-Jan-13 | Acquisitions | Foreign | September 30, | ||||||||||||||||||||||
and related | currency | 2013 | |||||||||||||||||||||||
adjustments | translation | ||||||||||||||||||||||||
adjustments and other | |||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||
European Operations Division: | |||||||||||||||||||||||||
U.K. (Virgin Media) | $ | — | $ | 9,020.20 | $ | 376 | $ | 9,396.20 | |||||||||||||||||
Germany (Unitymedia KabelBW) | 3,770.30 | — | 95.4 | 3,865.70 | |||||||||||||||||||||
Belgium (Telenet) | 2,158.30 | — | 54.6 | 2,212.90 | |||||||||||||||||||||
The Netherlands | 1,206.20 | — | 30.6 | 1,236.80 | |||||||||||||||||||||
Switzerland | 3,107.90 | 0.1 | 33 | 3,141.00 | |||||||||||||||||||||
Other Western Europe | 1,031.50 | — | 28 | 1,059.50 | |||||||||||||||||||||
Total Western Europe | 11,274.20 | 9,020.30 | 617.6 | 20,912.10 | |||||||||||||||||||||
Central and Eastern Europe | 1,509.50 | — | 0.6 | 1,510.10 | |||||||||||||||||||||
Total European Operations Division | 12,783.70 | 9,020.30 | 618.2 | 22,422.20 | |||||||||||||||||||||
Chile (VTR Group) | 558 | — | (28.9 | ) | 529.1 | ||||||||||||||||||||
Corporate and other | 535.9 | 75.9 | 2.5 | 614.3 | |||||||||||||||||||||
Total | $ | 13,877.60 | $ | 9,096.20 | $ | 591.8 | $ | 23,565.60 | |||||||||||||||||
Schedule of Intangible Assets Subject to Amortization, Net | ' | ||||||||||||||||||||||||
The details of our intangible assets subject to amortization are set forth below: | |||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Gross carrying amount | Accumulated amortization | Net carrying amount | Gross carrying amount | Accumulated amortization | Net carrying amount | ||||||||||||||||||||
in millions | |||||||||||||||||||||||||
Customer relationships | $ | 8,203.50 | $ | (2,272.7 | ) | $ | 5,930.80 | $ | 4,117.50 | $ | (1,780.0 | ) | $ | 2,337.50 | |||||||||||
Other | 389.4 | (171.6 | ) | 217.8 | 379.3 | (135.5 | ) | 243.8 | |||||||||||||||||
Total | $ | 8,592.90 | $ | (2,444.3 | ) | $ | 6,148.60 | $ | 4,496.80 | $ | (1,915.5 | ) | $ | 2,581.30 | |||||||||||
Debt_and_Capital_Lease_Obligat1
Debt and Capital Lease Obligations (Tables) | 9 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ||||||||||||||||||||||||||
Schedule of Debt and Capital Lease Obligations | ' | ||||||||||||||||||||||||||
The U.S. dollar equivalents of the components of our consolidated debt and capital lease obligations are as follows: | |||||||||||||||||||||||||||
September 30, 2013 | Carrying value (d) | ||||||||||||||||||||||||||
Weighted | Unused borrowing | Estimated fair value (c) | |||||||||||||||||||||||||
average | capacity (b) | ||||||||||||||||||||||||||
interest | |||||||||||||||||||||||||||
rate (a) | Borrowing | U.S. $ | 30-Sep-13 | 31-Dec-12 | 30-Sep-13 | December 31, 2012 | |||||||||||||||||||||
currency | equivalent | ||||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||||
Debt: | |||||||||||||||||||||||||||
VM Credit Facility | 3.77 | % | £ | 660 | $ | 1,068.10 | $ | 4,334.80 | $ | — | $ | 4,315.00 | $ | — | |||||||||||||
VM Notes | 6.36 | % | — | — | 8,973.70 | — | 9,038.40 | — | |||||||||||||||||||
VM Convertible Notes (e) | 6.5 | % | — | — | 153.3 | — | 57.7 | — | |||||||||||||||||||
UPC Broadband Holding Bank Facility | 3.73 | % | € | 1,046.20 | 1,415.70 | 5,622.80 | 5,494.40 | 5,598.50 | 5,466.80 | ||||||||||||||||||
UPC Holding Senior Notes | 7.52 | % | — | — | 3,174.50 | 3,190.00 | 3,047.80 | 2,905.90 | |||||||||||||||||||
UPCB SPE Notes | 6.88 | % | — | — | 4,475.20 | 4,502.30 | 4,187.20 | 4,145.20 | |||||||||||||||||||
Unitymedia KabelBW Notes | 7.04 | % | — | — | 7,785.00 | 7,416.50 | 7,488.90 | 6,815.50 | |||||||||||||||||||
Unitymedia KabelBW Revolving Credit Facilities | 3.23 | % | € | 417.5 | 565 | — | — | — | — | ||||||||||||||||||
Telenet Credit Facility | 3.62 | % | € | 158 | 213.8 | 1,917.20 | 1,860.00 | 1,900.70 | 1,853.70 | ||||||||||||||||||
Telenet SPE Notes | 5.92 | % | — | — | 2,797.30 | 2,777.60 | 2,707.50 | 2,641.00 | |||||||||||||||||||
Sumitomo Collar Loan | 1.88 | % | — | — | 1,007.40 | 1,175.10 | 957.3 | 1,083.60 | |||||||||||||||||||
Ziggo Collar Loan (f) | 0.45 | % | — | — | 835.9 | — | 835.7 | — | |||||||||||||||||||
Liberty Puerto Rico Bank Facility (g) | 6.88 | % | $ | 25 | 25 | 658.4 | 667 | 656.4 | 663.9 | ||||||||||||||||||
Ziggo Margin Loan | 3.08 | % | — | — | 622.4 | — | 622.4 | — | |||||||||||||||||||
Vendor financing (h) | 3.58 | % | — | — | 418.1 | 276.8 | 418.1 | 276.8 | |||||||||||||||||||
Other | 8.49 | % | CLP | 585 | 1.2 | 317.7 | 282.5 | 317.7 | 282.5 | ||||||||||||||||||
Total debt | 5.57 | % | $ | 3,288.80 | $ | 43,093.70 | $ | 27,642.20 | 42,149.30 | 26,134.90 | |||||||||||||||||
Capital lease obligations: | |||||||||||||||||||||||||||
Unitymedia KabelBW | 941 | 937.1 | |||||||||||||||||||||||||
Telenet | 441.9 | 405.1 | |||||||||||||||||||||||||
Virgin Media | 402.3 | — | |||||||||||||||||||||||||
Other subsidiaries | 67.2 | 47.4 | |||||||||||||||||||||||||
Total capital lease obligations | 1,852.40 | 1,389.60 | |||||||||||||||||||||||||
Total debt and capital lease obligations | 44,001.70 | 27,524.50 | |||||||||||||||||||||||||
Current maturities | (854.1 | ) | (363.5 | ) | |||||||||||||||||||||||
Long-term debt and capital lease obligations | $ | 43,147.60 | $ | 27,161.00 | |||||||||||||||||||||||
_______________ | |||||||||||||||||||||||||||
(a) | Represents the weighted average interest rate in effect at September 30, 2013 for all borrowings outstanding pursuant to each debt instrument including any applicable margin. The interest rates presented represent stated rates and do not include the impact of our interest rate derivative contracts, deferred financing costs, original issue premiums or discounts or commitment fees, all of which affect our overall cost of borrowing. Including the effects of derivative instruments, original issue premiums and discounts and commitment fees, but excluding the impact of financing costs, our weighted average interest rate on our aggregate variable- and fixed-rate indebtedness was approximately 6.7% at September 30, 2013. For information concerning our derivative instruments, see note 4. | ||||||||||||||||||||||||||
(b) | Unused borrowing capacity represents the maximum availability under the applicable facility at September 30, 2013 without regard to covenant compliance calculations or other conditions precedent to borrowing. At September 30, 2013, the full amount of unused borrowing capacity was available to be borrowed under each of the respective subsidiary facilities based on the applicable leverage and other financial covenants, except as noted below. At September 30, 2013, our availability under the UPC Broadband Holding Bank Facility (as defined and described below), the VM Credit Facility (as defined and described below), Unitymedia KabelBW’s revolving credit facilities, the CLP 60.0 billion ($118.8 million) term loan bank facility of VTR Wireless (the VTR Wireless Bank Facility) and the bank credit facility of Liberty Puerto Rico (the Liberty Puerto Rico Bank Facility) was limited to €365.5 million ($494.6 million), £501.4 million ($811.5 million), €80.0 million ($108.3 million), CLP 585.0 million ($1.2 million) and $14.6 million, respectively. When the relevant September 30, 2013 compliance reporting requirements have been completed and assuming no changes from September 30, 2013 borrowing levels, we anticipate that our availability under the UPC Broadband Holding Bank Facility, the VM Credit Facility and the Liberty Puerto Rico Bank Facility will be limited to €432.3 million ($585.0 million), £622.0 million ($1,006.6 million) and $25.0 million, respectively. In addition to the limitations noted above, the debt instruments of our subsidiaries contain restricted payment tests that limit the amount that can be loaned or distributed to other Liberty Global subsidiaries and ultimately to Liberty Global. When the relevant September 30, 2013 compliance reporting requirements have been completed and assuming no changes from September 30, 2013 borrowing levels, these restrictions are not expected to impact our ability to access the liquidity of our subsidiaries to satisfy our corporate liquidity needs beyond what is described above, except that we anticipate that only £60.7 million ($98.2 million) and €117.4 million ($158.9 million) of the borrowing capacity of Virgin Media and Unitymedia KabelBW, respectively, and none of the liquidity of Liberty Puerto Rico will be available under these tests to be loaned or distributed to other Liberty Global subsidiaries and ultimately to Liberty Global. No amounts were available to be loaned or distributed by these subsidiaries at September 30, 2013. | ||||||||||||||||||||||||||
(c) | The estimated fair values of our debt instruments were determined using the average of applicable bid and ask prices (mostly Level 1 of the fair value hierarchy) or, when quoted market prices are unavailable or not considered indicative of fair value, discounted cash flow models (mostly Level 2 of the fair value hierarchy). The discount rates used in the cash flow models are based on the market interest rates and estimated credit spreads of the applicable entity, to the extent available, and other relevant factors. For additional information concerning fair value hierarchies, see note 5. | ||||||||||||||||||||||||||
(d) | Amounts include the impact of premiums and discounts, where applicable. | ||||||||||||||||||||||||||
(e) | The $2,716.8 million fair value of the VM Convertible Notes (as defined and described below) on the date of the Virgin Media Acquisition includes $1,056.8 million that we allocated to a debt component and $1,660.0 million that we allocated to an equity component. See the related discussion below for additional information. The amount reported in the estimated fair value column for the VM Convertible Notes represents the estimated fair value of the remaining VM Convertible Notes outstanding as of September 30, 2013, including both the debt and equity components. | ||||||||||||||||||||||||||
(f) | For information regarding the Ziggo Collar Loan, see note 4. | ||||||||||||||||||||||||||
(g) | In May 2013, we obtained a waiver for a technical default under the Liberty Puerto Rico Bank Facility. The default was identified in connection with our review of the financial statements of OneLink for periods prior to our November 8, 2012 acquisition of OneLink. As a result of this review and a review of the related compliance certificates furnished to lenders, we concluded during the second quarter of 2013 that materially misstated financial information had been provided to lenders for the 2012 reporting periods prior to and including September 30, 2012. The furnishing of this materially misstated financial information to lenders constituted a technical default under the Liberty Puerto Rico Bank Facility, but did not create a cross default in any of our other debt agreements. | ||||||||||||||||||||||||||
(h) | Represents amounts owed pursuant to interest-bearing vendor financing arrangements that are generally due within one year. At September 30, 2013 and December 31, 2012, the amounts owed pursuant to these arrangements include $33.2 million and $29.1 million, respectively, of value-added taxes that were paid on our behalf by the vendor. Repayments of vendor financing obligations are included in repayments and repurchases of debt and capital lease obligations in our condensed consolidated statements of cash flows. | ||||||||||||||||||||||||||
Schedule of Debt Instrument Redemption Price | ' | ||||||||||||||||||||||||||
Virgin Media Finance and Virgin Media Secured Finance (as applicable) may redeem some or all of the 2018 VM Senior Secured Notes, the 2019 VM Senior Notes, the April 2021 VM Senior Secured Notes or the 2023 VM Senior Notes at the following redemption prices (expressed as a percentage of the principal amount) plus accrued and unpaid interest and Additional Amounts (as defined in the applicable indenture), if any, to the applicable redemption date, if redeemed during the twelve-month period commencing on January 15 in the case of the 2018 VM Senior Secured Notes, October 15 in the case of the 2019 VM Senior Notes or April 15 in the case of the April 2021 VM Senior Secured Notes and the 2023 VM Senior Notes of the years set forth below: | |||||||||||||||||||||||||||
Redemption price | |||||||||||||||||||||||||||
Year | 2018 VM Dollar Senior Secured Notes | 2018 VM Sterling Senior Secured Notes | 2019 VM Dollar Senior Notes | 2019 VM Sterling Senior Notes | April 2021 VM Dollar Senior Secured Notes | April 2021 VM Sterling Senior Secured Notes | 2023 VM Dollar Senior Notes | 2023 VM Sterling Senior Notes | |||||||||||||||||||
2014 | 103.25% | 103.50% | 104.19% | 104.44% | N.A. | N.A. | N.A. | N.A. | |||||||||||||||||||
2015 | 101.63% | 101.75% | 102.79% | 102.96% | N.A. | N.A. | N.A. | N.A. | |||||||||||||||||||
2016 | 100.00% | 100.00% | 101.40% | 101.48% | N.A. | N.A. | N.A. | N.A. | |||||||||||||||||||
2017 | 100.00% | 100.00% | 100.00% | 100.00% | 102.69% | 103.00% | N.A. | N.A. | |||||||||||||||||||
2018 | N.A. | N.A. | 100.00% | 100.00% | 101.34% | 101.50% | 103.19% | 103.50% | |||||||||||||||||||
2019 | N.A. | N.A. | N.A. | N.A. | 100.00% | 100.00% | 102.13% | 102.33% | |||||||||||||||||||
2020 | N.A. | N.A. | N.A. | N.A. | 100.00% | 100.00% | 101.06% | 101.67% | |||||||||||||||||||
2021 and thereafter | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | 100.00% | 100.00% | |||||||||||||||||||
Schedule of Maturities of Long-Term Debt and Capital Lease Obligations | ' | ||||||||||||||||||||||||||
Maturities of Debt and Capital Lease Obligations | |||||||||||||||||||||||||||
The U.S. dollar equivalents of the maturities of our debt and capital lease obligations as of September 30, 2013 are presented below for the named entity and its subsidiaries, unless otherwise noted: | |||||||||||||||||||||||||||
Debt: | |||||||||||||||||||||||||||
Virgin Media | UPC | Unitymedia KabelBW | Telenet (b) | Other (c) | Total | ||||||||||||||||||||||
Holding (a) | |||||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||||
Year ending December 31: | |||||||||||||||||||||||||||
2013 (remainder of year) | $ | 54.8 | $ | 21.4 | $ | 4.8 | $ | 10 | $ | 149.9 | $ | 240.9 | |||||||||||||||
2014 | — | 282.7 | 26.6 | 10 | 59.3 | 378.6 | |||||||||||||||||||||
2015 | — | 150.2 | — | 10 | 187.7 | 347.9 | |||||||||||||||||||||
2016 | — | 738.2 | — | 145.3 | 1,446.30 | 2,329.80 | |||||||||||||||||||||
2017 | — | — | 603.5 | 593.2 | 1,106.30 | 2,303.00 | |||||||||||||||||||||
2018 | 2,416.00 | 400 | — | 246.8 | 349.3 | 3,412.10 | |||||||||||||||||||||
Thereafter | 10,714.70 | 11,588.60 | 6,896.10 | 3,774.00 | — | 32,973.40 | |||||||||||||||||||||
Total debt maturities | 13,185.50 | 13,181.10 | 7,531.00 | 4,789.30 | 3,298.80 | 41,985.70 | |||||||||||||||||||||
Unamortized premium (discount) | 225.6 | (43.5 | ) | (10.7 | ) | 1.3 | (9.1 | ) | 163.6 | ||||||||||||||||||
Total debt | $ | 13,411.10 | $ | 13,137.60 | $ | 7,520.30 | $ | 4,790.60 | $ | 3,289.70 | $ | 42,149.30 | |||||||||||||||
Current portion | $ | 57.7 | $ | 304.1 | $ | 31.4 | $ | 10 | $ | 206.3 | $ | 609.5 | |||||||||||||||
Noncurrent portion | $ | 13,353.40 | $ | 12,833.50 | $ | 7,488.90 | $ | 4,780.60 | $ | 3,083.40 | $ | 41,539.80 | |||||||||||||||
_______________ | |||||||||||||||||||||||||||
(a) | Amounts include the UPCB SPE Notes issued by the UPCB SPEs. As described above, the UPCB SPEs are consolidated by UPC Holding. | ||||||||||||||||||||||||||
(b) | Amounts include the Telenet SPE Notes that were issued by certain special purpose entities (the Telenet SPEs) that were created for the primary purposes of facilitating the offering of certain senior secured notes (the Telenet SPE Notes). The proceeds from the Telenet SPE Notes were used to fund additional Telenet Facilities M, N, O, P, U and V (each a SPE Funded Facility), with Telenet International as the borrower. Each Telenet SPE is dependent on payments from Telenet International under the applicable SPE Funded Facility in order to service its payment obligations under its Telenet SPE Notes. Although Telenet International has no equity or voting interest in any of the Telenet SPEs, each of the SPE Funded Facility loans creates a variable interest in the respective Telenet SPE for which Telenet International is the primary beneficiary, as contemplated by GAAP. As such, Telenet International and its parent entities, including Telenet and Liberty Global, are required by the provisions of GAAP to consolidate the Telenet SPEs. | ||||||||||||||||||||||||||
(c) | As further described in note 6, we have reflected the CLP 59.4 billion ($117.7 million) principal amount due under the VTR Wireless Bank Facility in the current portion of debt and capital lease obligations in our condensed consolidated balance sheet as of September 30, 2013. | ||||||||||||||||||||||||||
Capital lease obligations: | |||||||||||||||||||||||||||
Unitymedia KabelBW | Telenet | Virgin Media | Other | Total | |||||||||||||||||||||||
in millions | |||||||||||||||||||||||||||
Year ending December 31: | |||||||||||||||||||||||||||
2013 (remainder of year) | $ | 24.9 | $ | 17.7 | $ | 62 | $ | 8.1 | $ | 112.7 | |||||||||||||||||
2014 | 99.4 | 68 | 150.3 | 13.3 | 331 | ||||||||||||||||||||||
2015 | 99.2 | 65 | 107.5 | 16.1 | 287.8 | ||||||||||||||||||||||
2016 | 99.2 | 63.4 | 58.6 | 13.5 | 234.7 | ||||||||||||||||||||||
2017 | 99.2 | 61.7 | 12.9 | 7.2 | 181 | ||||||||||||||||||||||
2018 | 99.2 | 58.3 | 4.5 | 3.5 | 165.5 | ||||||||||||||||||||||
Thereafter | 1,179.40 | 267.9 | 235.3 | 27 | 1,709.60 | ||||||||||||||||||||||
Total principal and interest payments | 1,700.50 | 602 | 631.1 | 88.7 | 3,022.30 | ||||||||||||||||||||||
Amounts representing interest | (759.5 | ) | (160.1 | ) | (228.8 | ) | (21.5 | ) | (1,169.9 | ) | |||||||||||||||||
Present value of net minimum lease payments | $ | 941 | $ | 441.9 | $ | 402.3 | $ | 67.2 | $ | 1,852.40 | |||||||||||||||||
Current portion | $ | 27.9 | $ | 49 | $ | 153.7 | $ | 14 | $ | 244.6 | |||||||||||||||||
Noncurrent portion | $ | 913.1 | $ | 392.9 | $ | 248.6 | $ | 53.2 | $ | 1,607.80 | |||||||||||||||||
VM Credit Facility | ' | ||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ||||||||||||||||||||||||||
Schedule of Credit Facilities | ' | ||||||||||||||||||||||||||
The details of our borrowings under the VM Credit Facility are summarized in the following table: | |||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||
Facility | Final maturity date | Interest rate | Facility amount | Unused | Carrying | ||||||||||||||||||||||
(in borrowing | borrowing | value (b) | |||||||||||||||||||||||||
currency) | capacity (a) | ||||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||||
A | June 7, 2019 | LIBOR + 3.25% | £ | 375 | $ | — | $ | 606.9 | |||||||||||||||||||
B | June 7, 2020 | LIBOR + 2.75% (c) | $ | 2,755.00 | — | 2,741.80 | |||||||||||||||||||||
C | June 7, 2020 | LIBOR + 3.75% (c) | £ | 600 | — | 966.3 | |||||||||||||||||||||
Revolving Facility | June 7, 2019 | LIBOR + 3.25% | £ | 660 | 1,068.10 | — | |||||||||||||||||||||
Total | $ | 1,068.10 | $ | 4,315.00 | |||||||||||||||||||||||
_______________ | |||||||||||||||||||||||||||
(a) | At September 30, 2013, our availability was limited to £501.4 million ($811.5 million). When the relevant September 30, 2013 compliance reporting requirements have been completed and assuming no changes from September 30, 2013 borrowing levels, we anticipate that our availability will be limited to £622.0 million ($1,006.6 million). The VM Revolving Facility has a commitment fee on unused and uncanceled balances of 1.3% per year. | ||||||||||||||||||||||||||
(b) | The carrying values of VM Facilities B and C include the impact of discounts. | ||||||||||||||||||||||||||
(c) | VM Facilities B and C have a LIBOR floor of 0.75%. | ||||||||||||||||||||||||||
VM Notes [Member] | ' | ||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ||||||||||||||||||||||||||
Schedule of Debt and Other Obligations | ' | ||||||||||||||||||||||||||
The details of the VM Notes are summarized in the following table: | |||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||
Outstanding principal | |||||||||||||||||||||||||||
amount | |||||||||||||||||||||||||||
VM Notes | Maturity | Interest | Borrowing | U.S. $ | Estimated | Carrying | |||||||||||||||||||||
rate | currency | equivalent | fair value | value (a) | |||||||||||||||||||||||
in millions | |||||||||||||||||||||||||||
2018 VM Dollar Senior Secured Notes | January 15, 2018 | 6.50% | $ | 1,000.00 | $ | 1,000.00 | $ | 1,042.50 | $ | 1,045.20 | |||||||||||||||||
2018 VM Sterling Senior Secured Notes | January 15, 2018 | 7.00% | £ | 875 | 1,416.10 | 1,479.70 | 1,484.50 | ||||||||||||||||||||
2019 VM Dollar Senior Notes | October 15, 2019 | 8.38% | $ | 507.1 | 507.1 | 551.5 | 559.4 | ||||||||||||||||||||
2019 VM Sterling Senior Notes | October 15, 2019 | 8.88% | £ | 253.5 | 410.3 | 446.4 | 450.8 | ||||||||||||||||||||
January 2021 VM Dollar Senior Secured Notes | January 15, 2021 | 5.25% | $ | 447.9 | 447.9 | 437.8 | 462.7 | ||||||||||||||||||||
January 2021 VM Sterling Senior Secured Notes | January 15, 2021 | 5.50% | £ | 628.4 | 1,017.00 | 1,023.90 | 1,033.40 | ||||||||||||||||||||
April 2021 VM Dollar Senior Secured Notes | April 15, 2021 | 5.38% | $ | 1,000.00 | 1,000.00 | 978.8 | 1,000.00 | ||||||||||||||||||||
April 2021 VM Sterling Senior Secured Notes | April 15, 2021 | 6.00% | £ | 1,100.00 | 1,780.10 | 1,812.40 | 1,780.10 | ||||||||||||||||||||
2022 VM 5.25% Dollar Senior Notes | February 15, 2022 | 5.25% | $ | 95 | 95 | 93.1 | 95.9 | ||||||||||||||||||||
2022 VM 4.875% Dollar Senior Notes | February 15, 2022 | 4.88% | $ | 118.7 | 118.7 | 100.1 | 119.7 | ||||||||||||||||||||
2022 VM Sterling Senior Notes | February 15, 2022 | 5.13% | £ | 44.1 | 71.4 | 66.8 | 72.1 | ||||||||||||||||||||
2023 VM Dollar Senior Notes | April 15, 2023 | 6.38% | $ | 530 | 530 | 529 | 530 | ||||||||||||||||||||
2023 VM Sterling Senior Notes | April 15, 2023 | 7.00% | £ | 250 | 404.6 | 411.7 | 404.6 | ||||||||||||||||||||
$ | 8,798.20 | $ | 8,973.70 | $ | 9,038.40 | ||||||||||||||||||||||
_______________ | |||||||||||||||||||||||||||
(a) | Amounts include the impact of premiums and discounts, where applicable, including amounts recorded in connection with the acquisition accounting for the Virgin Media Acquisition. | ||||||||||||||||||||||||||
UPC Broadband Holding Bank Facility | ' | ||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ||||||||||||||||||||||||||
Schedule of Credit Facilities | ' | ||||||||||||||||||||||||||
The details of our borrowings under the UPC Broadband Holding Bank Facility are summarized in the following table: | |||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||
Facility | Final maturity date | Interest rate | Facility amount | Unused | Carrying | ||||||||||||||||||||||
(in borrowing | borrowing | value (c) | |||||||||||||||||||||||||
currency) (a) | capacity (b) | ||||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||||
Q | 31-Jul-14 | EURIBOR + 2.75% | € | 30 | $ | 40.6 | $ | — | |||||||||||||||||||
R | 31-Dec-15 | EURIBOR + 3.25% | € | 111 | — | 150.2 | |||||||||||||||||||||
S | 31-Dec-16 | EURIBOR + 3.75% | € | 545.5 | — | 738.2 | |||||||||||||||||||||
V (d) | 15-Jan-20 | 7.63% | € | 500 | — | 676.6 | |||||||||||||||||||||
Y (d) | 1-Jul-20 | 6.38% | € | 750 | — | 1,014.80 | |||||||||||||||||||||
Z (d) | 1-Jul-20 | 6.63% | $ | 1,000.00 | — | 1,000.00 | |||||||||||||||||||||
AC (d) | 15-Nov-21 | 7.25% | $ | 750 | — | 750 | |||||||||||||||||||||
AD (d) | 15-Jan-22 | 6.88% | $ | 750 | — | 750 | |||||||||||||||||||||
AE | 31-Dec-19 | EURIBOR + 3.75% | € | 602.5 | — | 815.2 | |||||||||||||||||||||
AF | 31-Jan-21 | LIBOR + 3.00% (e) | $ | 500 | — | 494.9 | |||||||||||||||||||||
AG | 31-Mar-21 | EURIBOR + 3.75% | € | 1,554.40 | — | 2,098.50 | |||||||||||||||||||||
AH | 30-Jun-21 | LIBOR + 2.50% (e) | $ | 1,305.00 | — | 1,301.50 | |||||||||||||||||||||
AI | 30-Apr-19 | EURIBOR + 3.25% | € | 1,016.20 | 1,375.10 | — | |||||||||||||||||||||
Elimination of Facilities V, Y, Z, AC and AD in consolidation (d) | — | (4,191.4 | ) | ||||||||||||||||||||||||
Total | $ | 1,415.70 | $ | 5,598.50 | |||||||||||||||||||||||
_______________ | |||||||||||||||||||||||||||
(a) | Except as described in (d) below, amounts represent total third-party facility amounts at September 30, 2013 without giving effect to the impact of discounts. | ||||||||||||||||||||||||||
(b) | At September 30, 2013, our availability was limited to €365.5 million ($494.6 million). When the relevant September 30, 2013 compliance reporting requirements have been completed and assuming no changes from September 30, 2013 borrowing levels, we anticipate that our availability will be limited to €432.3 million ($585.0 million). Facility Q and Facility AI have commitment fees on unused and uncancelled balances of 0.75% and 1.3% per year, respectively. | ||||||||||||||||||||||||||
(c) | The carrying values of Facilities AF, AG, and AH include the impact of discounts. | ||||||||||||||||||||||||||
(d) | The UPCB SPE Notes were issued by certain special purpose entities (the UPCB SPEs) that were created for the primary purpose of facilitating the offering of certain senior secured notes (the UPCB SPE Notes). The proceeds from the UPCB SPE Notes were used to fund additional Facilities V, Y, Z, AC and AD (each a UPCB Funded Facility), with UPC Financing as the borrower. Each UPCB SPE is dependent on payments from UPC Financing under the applicable UPCB Funded Facility in order to service its payment obligations under its UPCB SPE Notes. Although UPC Financing has no equity or voting interest in any of the UPCB SPEs, each of the UPCB Funded Facility loans creates a variable interest in the respective UPCB SPE for which UPC Financing is the primary beneficiary, as contemplated by GAAP. As such, UPC Financing and its parent entities, including UPC Holding and Liberty Global, are required by the provisions of GAAP to consolidate the UPCB SPEs. As a result, the amounts outstanding under Facilities V, Y, Z, AC and AD are eliminated in our condensed consolidated financial statements. | ||||||||||||||||||||||||||
(e) | Facilities AF and AH have LIBOR floors of 1.00% and 0.75%, respectively. | ||||||||||||||||||||||||||
UPC Holding 6.75% Senior Notes | ' | ||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ||||||||||||||||||||||||||
Schedule of Debt Instrument Redemption Price | ' | ||||||||||||||||||||||||||
UPC Holding may redeem some or all of the UPC Holding 6.75% Senior Notes at the following redemption prices (expressed as a percentage of the principal amount) plus accrued and unpaid interest and Additional Amounts (as defined in the UPC Holding 6.75% Senior Notes Indenture), if any, to the applicable redemption date, if redeemed during the twelve-month period commencing on March 15 of the years set forth below: | |||||||||||||||||||||||||||
Year | Redemption price | ||||||||||||||||||||||||||
2018 | 103.38% | ||||||||||||||||||||||||||
2019 | 102.25% | ||||||||||||||||||||||||||
2020 | 101.13% | ||||||||||||||||||||||||||
2021 and thereafter | 100.00% | ||||||||||||||||||||||||||
April 2013 UM Senior Secured Notes | ' | ||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ||||||||||||||||||||||||||
Schedule of Debt Instrument Redemption Price | ' | ||||||||||||||||||||||||||
The UM Senior Secured Notes Issuers may redeem some or all of the April 2013 UM Senior Secured Notes at the following redemption prices (expressed as a percentage of the principal amount) plus accrued and unpaid interest and Additional Amounts (as defined in the indenture), if any, to the redemption date, if redeemed during the twelve-month period commencing on April 15 of the years set forth below: | |||||||||||||||||||||||||||
Year | Redemption | ||||||||||||||||||||||||||
price | |||||||||||||||||||||||||||
2018 | 102.81% | ||||||||||||||||||||||||||
2019 | 101.88% | ||||||||||||||||||||||||||
2020 | 100.94% | ||||||||||||||||||||||||||
2021 and thereafter | 100.00% |
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||||||
Schedule of Effective Income Tax Rate Reconciliation | ' | |||||||||||||||
Income tax expense attributable to our earnings (loss) from continuing operations before income taxes differs from the amounts computed using the applicable income tax rate as a result of the following: | ||||||||||||||||
Three months ended | Nine months ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
in millions | ||||||||||||||||
Computed “expected” tax benefit (expense) (a) | $ | 136.3 | $ | (19.4 | ) | $ | 79.5 | $ | 50.3 | |||||||
Enacted tax law and rate changes (b) | (371.0 | ) | 9.8 | (379.7 | ) | 9.6 | ||||||||||
Change in subsidiary tax attributes due to a deemed change in control | 6.7 | — | (84.7 | ) | — | |||||||||||
Non-deductible or non-taxable interest and other expenses | (1.7 | ) | (19.8 | ) | (84.4 | ) | (56.7 | ) | ||||||||
International rate differences (c) | 8.7 | 2.1 | 51.1 | (17.0 | ) | |||||||||||
Tax effect of intercompany financing | 33.8 | — | 41.2 | — | ||||||||||||
Non-deductible or non-taxable foreign currency exchange results | (39.6 | ) | 0.7 | (29.4 | ) | (0.9 | ) | |||||||||
Basis and other differences in the treatment of items associated with investments in subsidiaries and affiliates | 1.6 | (21.5 | ) | (27.6 | ) | (27.5 | ) | |||||||||
Change in valuation allowances | (19.8 | ) | (11.0 | ) | (20.3 | ) | (54.3 | ) | ||||||||
Other, net | 16.2 | (2.0 | ) | 9.1 | (9.5 | ) | ||||||||||
Total | $ | (228.8 | ) | $ | (61.1 | ) | $ | (445.2 | ) | $ | (106.0 | ) | ||||
_______________ | ||||||||||||||||
(a) | As a result of the Virgin Media Acquisition, pursuant to which Liberty Global became the publicly-held parent company of the successors by merger of LGI and Virgin Media, our statutory tax rate changed from the U.S. federal income tax rate of 35% to the U.K. statutory income tax rate of 23%. Accordingly, the statutory or “expected” tax rates are 23% for the 2013 periods and 35% for the 2012 periods. | |||||||||||||||
(b) | During the first quarter of 2013, it was announced that the U.K. corporate income tax rate will change to 21% in April 2014 and 20% in April 2015. This change in law was enacted in July 2013, and accordingly, amounts presented for the 2013 periods reflect the impact of these future rate changes. | |||||||||||||||
(c) | Amounts reflect statutory rates in jurisdictions in which we operate outside of the U.K. for the 2013 periods and outside of the U.S. for the 2012 periods. | |||||||||||||||
Summary of Tax Loss Carryforwards | ' | |||||||||||||||
The significant components of our tax loss carryforwards and related tax assets at September 30, 2013 are as follows: | ||||||||||||||||
Country | Tax loss | Related | Expiration | |||||||||||||
carryforward | tax asset | date | ||||||||||||||
in millions | ||||||||||||||||
U.K. | $ | 22,329.20 | $ | 4,465.80 | Indefinite | |||||||||||
Germany | 3,052.90 | 481 | Indefinite | |||||||||||||
The Netherlands | 2,960.60 | 740.2 | 2013-2022 | |||||||||||||
U.S. | 1,805.90 | 632.7 | 2014-2033 | |||||||||||||
Luxembourg | 1,062.60 | 310.5 | Indefinite | |||||||||||||
France | 658.1 | 226.6 | Indefinite | |||||||||||||
Ireland | 542.1 | 67.8 | Indefinite | |||||||||||||
Belgium | 340.9 | 115.9 | Indefinite | |||||||||||||
Hungary | 321.1 | 61 | Indefinite | |||||||||||||
Chile | 270.2 | 54 | Indefinite | |||||||||||||
Romania | 83.6 | 13.4 | 2016-2020 | |||||||||||||
Puerto Rico | 51.6 | 20.1 | 2018-2024 | |||||||||||||
Spain | 20.3 | 6.1 | 2023-2028 | |||||||||||||
Other | 38 | 8.3 | Various | |||||||||||||
Total | $ | 33,537.10 | $ | 7,203.40 | ||||||||||||
Schedule of Unrecognized Tax Benefits | ' | |||||||||||||||
The changes in our unrecognized tax benefits are summarized below: | ||||||||||||||||
Nine months ended | ||||||||||||||||
September 30, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
in millions | ||||||||||||||||
Balance at January 1 | $ | 359.7 | $ | 400.6 | ||||||||||||
Additions based on tax positions related to the current year | 80.9 | 9.1 | ||||||||||||||
Additions for tax positions of prior years | 45.8 | 5 | ||||||||||||||
Reductions for tax positions of prior years | (10.1 | ) | (107.1 | ) | ||||||||||||
Foreign currency translation | 4.6 | 0.7 | ||||||||||||||
Lapse of statue of limitations | (0.9 | ) | (0.6 | ) | ||||||||||||
Balance at September 30 | $ | 480 | $ | 307.7 | ||||||||||||
Sharebased_Compensation_Tables
Share-based Compensation (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||||||||||||||
Summary of stock-based compensation | ' | |||||||||||||||
The following table summarizes our share-based compensation expense: | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
in millions | ||||||||||||||||
Liberty Global shares: | ||||||||||||||||
Performance-based incentive awards (a) | $ | 12.6 | $ | 11.1 | $ | 24.5 | $ | 29.5 | ||||||||
Other share-based incentive awards | 79.1 | 11.4 | 140.1 | 34.2 | ||||||||||||
Total Liberty Global shares (b) | 91.7 | 22.5 | 164.6 | 63.7 | ||||||||||||
Telenet share-based incentive awards (c) | 4.9 | 4.4 | 52.4 | 25.2 | ||||||||||||
Other | 2.1 | 0.3 | 2.4 | 1.6 | ||||||||||||
Total | $ | 98.7 | $ | 27.2 | $ | 219.4 | $ | 90.5 | ||||||||
Included in: | ||||||||||||||||
Operating expense | $ | 0.8 | $ | 1.1 | $ | 10.7 | $ | 6.3 | ||||||||
SG&A expense | 97.9 | 26.1 | 208.7 | 84.2 | ||||||||||||
Total | $ | 98.7 | $ | 27.2 | $ | 219.4 | $ | 90.5 | ||||||||
_______________ | ||||||||||||||||
(a) | Primarily includes share-based compensation expense related to Liberty Global performance-based restricted share units (PSUs). | |||||||||||||||
(b) | In accordance with the terms of the Virgin Media Merger Agreement, we issued Liberty Global share-based incentive awards (Virgin Media Replacement Awards) to employees and former directors of Virgin Media in exchange for corresponding Virgin Media awards. In connection with the Virgin Media Acquisition, the Virgin Media Replacement Awards were remeasured as of June 7, 2013, resulting in an aggregate estimated fair value attributable to the post-acquisition period of $188.5 million. During the second and third quarters of 2013, Virgin Media recorded share-based compensation expense of $35.9 million and $61.6 million, respectively, primarily related to the Virgin Media Replacement Awards, including $27.5 million and $35.4 million, respectively, that was charged to expense in recognition of the Virgin Media Replacement Awards that were fully vested on June 7, 2013 or for which vesting was accelerated pursuant to the terms of the Virgin Media Merger Agreement on or prior to September 30, 2013. The remaining June 7, 2013 estimated fair value will be amortized over the remaining service periods of the unvested Virgin Media Replacement Awards, subject to forfeitures and the satisfaction of performance conditions. | |||||||||||||||
(c) | During the second quarters of 2013 and 2012, Telenet modified the terms of certain of its share-based incentive plans to provide for anti-dilution adjustments in connection with its shareholder returns. In connection with these anti-dilution adjustments, Telenet recognized share-based compensation expense of $32.7 million and $12.6 million, respectively. In addition, during the first quarter of 2013, Telenet recognized expense of $6.2 million related to the accelerated vesting of options granted under the Telenet 2010 Specific Stock Option Plan, as further described below. | |||||||||||||||
Summary of stock compensation not recognized | ' | |||||||||||||||
The following table provides certain information related to share-based compensation not yet recognized for share incentive awards related to Liberty Global ordinary shares and Telenet ordinary shares as of September 30, 2013: | ||||||||||||||||
Liberty Global ordinary shares (a) | Liberty Global | Telenet ordinary shares (b) | ||||||||||||||
performance-based awards | ||||||||||||||||
Total compensation expense not yet recognized (in millions) | $ | 196.5 | $ | 133.4 | $ | 14.2 | ||||||||||
Weighted average period remaining for expense recognition (in years) | 2.2 | 2.4 | 2.2 | |||||||||||||
_______________ | ||||||||||||||||
(a) | Amounts relate to awards granted or assumed by Liberty Global under (i) the Liberty Global, Inc. 2005 Incentive Plan (as amended and restated effective June 7, 2013) (the Liberty Global Incentive Plan), (ii) the Liberty Global, Inc. 2005 Nonemployee Director Incentive Plan (as amended and restated effective June 7, 2013) (the Liberty Global Director Incentive Plan), (iii) the Virgin Media Inc. 2010 Stock Incentive Plan (as amended and restated effective June 7, 2013) (the VM Incentive Plan) and (iv) certain other incentive plans of Virgin Media pursuant to which awards may no longer be granted. The Liberty Global Incentive Plan had 195,475 shares available for grant as of September 30, 2013 and the VM Incentive Plan had 11,603,628 shares available for grant as of September 30, 2013. These shares may be awarded in any class of our ordinary shares. The Liberty Global Director Incentive Plan had 8,815,685 shares available for grant as of September 30, 2013. These shares may be awarded in any class of our ordinary shares, except that no more than five million shares may be awarded in Class B ordinary shares. | |||||||||||||||
(b) | Amounts relate to various equity incentive awards granted to employees of Telenet. | |||||||||||||||
Stock compensation assumptions | ' | |||||||||||||||
The following table summarizes certain information related to the incentive awards granted and exercised with respect to Liberty Global ordinary shares. | ||||||||||||||||
Nine months ended | ||||||||||||||||
September 30, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Assumptions used to estimate fair value of options, share appreciation rights (SARs) and performance-based share appreciation rights (PSARs) granted: | ||||||||||||||||
Risk-free interest rate | 0.36 - 1.27% | 0.37 - 1.68% | ||||||||||||||
Expected life (a) | 2.8 - 7.1 years | 3.3 - 7.9 years | ||||||||||||||
Expected volatility (a) | 26.2 - 35.8% | 31.5 - 40.4% | ||||||||||||||
Expected dividend yield | none | none | ||||||||||||||
Weighted average grant-date fair value per share awards granted: | ||||||||||||||||
Options | $ | 22.19 | $ | 20 | ||||||||||||
SARs | $ | 16.71 | $ | 14.36 | ||||||||||||
PSARs | $ | 16.62 | $ | — | ||||||||||||
Restricted shares and restricted share units (RSUs) | $ | 71.47 | $ | 49.1 | ||||||||||||
PSUs | $ | 69.88 | $ | 50.18 | ||||||||||||
Total intrinsic value of awards exercised (in millions): | ||||||||||||||||
Options | $ | 114.9 | $ | 32.4 | ||||||||||||
SARs | $ | 59.6 | $ | 38 | ||||||||||||
Cash received from exercise of options (in millions) | $ | 57.2 | $ | 22.4 | ||||||||||||
Income tax benefit related to share-based compensation (in millions) | $ | 33.3 | $ | 13.7 | ||||||||||||
Specific Stock Option Plan [Member] | Telenet | ' | |||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||||||||||||||
Stock options activity | ' | |||||||||||||||
The following table summarizes the activity during the nine months ended September 30, 2013 related to the Telenet 2010 Specific Stock Option Plan: | ||||||||||||||||
Options — Telenet ordinary shares | Number of | Weighted | Weighted | Aggregate | ||||||||||||
shares | average | average | intrinsic value | |||||||||||||
exercise price | remaining | |||||||||||||||
contractual | ||||||||||||||||
term | ||||||||||||||||
in years | in millions | |||||||||||||||
Outstanding at January 1, 2013 | 833,594 | € | 18.66 | |||||||||||||
Granted (a) | 256,490 | € | 20.27 | |||||||||||||
Net impact of anti-dilution adjustments | 252,540 | € | (3.58 | ) | ||||||||||||
Outstanding at September 30, 2013 | 1,342,624 | € | 15.46 | 3.9 | € | 28.7 | ||||||||||
Exercisable at September 30, 2013 | — | € | — | — | € | — | ||||||||||
_______________ | ||||||||||||||||
(a) | Represents the number of options for which the performance criteria was set during the three months ended March 31, 2013. The vesting of these options was accelerated to March 31, 2013 in connection with the resignation of Telenet’s former Chief Executive Officer. As a result of this accelerated vesting, Telenet recorded additional share-based compensation of $6.2 million during the first quarter of 2013. All of the vested options pursuant to the Telenet 2010 Specific Stock Option Plan become exercisable during defined exercise periods following January 1, 2014. The fair value of these options was calculated on the date that the performance criteria was set using an expected volatility of 23.3%, an expected life of 3.3 years, and a risk-free return of 0.33%. The grant date fair value of these options was €18.24 ($24.68). | |||||||||||||||
Employee Stock Warrant Plans [Member] | Telenet | ' | |||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||||||||||||||
Other-than-options activity | ' | |||||||||||||||
The following table summarizes the activity during the nine months ended September 30, 2013 related to the Telenet Employee Stock Warrant Plans and the Telenet 2013 Employee Stock Option Plan: | ||||||||||||||||
Warrants / Options — Telenet ordinary shares | Number of | Weighted | Weighted | Aggregate | ||||||||||||
shares | average | average | intrinsic value | |||||||||||||
exercise price | remaining | |||||||||||||||
contractual | ||||||||||||||||
term | ||||||||||||||||
in years | in millions | |||||||||||||||
Outstanding at January 1, 2013 | 3,185,709 | € | 13.95 | |||||||||||||
Granted | 741,448 | € | 34.33 | |||||||||||||
Forfeited | (7,725 | ) | € | 18.27 | ||||||||||||
Exercised | (1,513,932 | ) | € | 12.32 | ||||||||||||
Net impact of anti-dilution adjustments | 406,378 | € | (2.86 | ) | ||||||||||||
Outstanding at September 30, 2013 | 2,811,878 | € | 18.17 | 2.4 | € | 52.4 | ||||||||||
Exercisable at September 30, 2013 | 1,535,385 | € | 11.18 | 1.3 | € | 39.3 | ||||||||||
Class A Ordinary Shares [Member] | Stock Options [Member] | ' | |||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||||||||||||||
Stock options activity | ' | |||||||||||||||
Options — Class A ordinary shares | Number of | Weighted | Weighted | Aggregate | ||||||||||||
shares | average | average | intrinsic value | |||||||||||||
exercise price | remaining | |||||||||||||||
contractual | ||||||||||||||||
term | ||||||||||||||||
in years | in millions | |||||||||||||||
Outstanding at January 1, 2013 | 804,617 | $ | 25.9 | |||||||||||||
Virgin Media Replacement Awards | 3,934,574 | $ | 31.16 | |||||||||||||
Granted | 62,314 | $ | 73.66 | |||||||||||||
Cancelled | (72,793 | ) | $ | 76.15 | ||||||||||||
Exercised | (1,339,951 | ) | $ | 27.87 | ||||||||||||
Outstanding at September 30, 2013 | 3,388,761 | $ | 31.52 | 6.4 | $ | 162 | ||||||||||
Exercisable at September 30, 2013 | 1,785,646 | $ | 25.64 | 4.8 | $ | 95.9 | ||||||||||
Class A Ordinary Shares [Member] | Stock Appreciation Rights (SARs) [Member] | ' | |||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||||||||||||||
Other-than-options activity | ' | |||||||||||||||
SARs — Class A ordinary shares | Number of | Weighted | Weighted | Aggregate | ||||||||||||
shares | average | average | intrinsic value | |||||||||||||
base price | remaining | |||||||||||||||
contractual | ||||||||||||||||
term | ||||||||||||||||
in years | in millions | |||||||||||||||
Outstanding at January 1, 2013 | 3,761,337 | $ | 36.94 | |||||||||||||
Granted | 1,229,616 | $ | 74.35 | |||||||||||||
Forfeited | (27,288 | ) | $ | 46.76 | ||||||||||||
Exercised | (599,170 | ) | $ | 25.68 | ||||||||||||
Outstanding at September 30, 2013 | 4,364,495 | $ | 47.68 | 5 | $ | 131.8 | ||||||||||
Exercisable at September 30, 2013 | 1,682,668 | $ | 33.4 | 3.8 | $ | 76.5 | ||||||||||
Class A Ordinary Shares [Member] | Performance Stock Appreciation Rights (PSARs) [Member] | ' | |||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||||||||||||||
Other-than-options activity | ' | |||||||||||||||
PSARs — Class A ordinary shares | Number of | Weighted | Weighted | Aggregate | ||||||||||||
shares | average | average | intrinsic value | |||||||||||||
base price | remaining | |||||||||||||||
contractual | ||||||||||||||||
term | ||||||||||||||||
in years | in millions | |||||||||||||||
Outstanding at January 1, 2013 | — | $ | — | |||||||||||||
Granted | 2,896,250 | $ | 69.77 | |||||||||||||
Outstanding at September 30, 2013 | 2,896,250 | $ | 69.77 | 6.7 | $ | 27.8 | ||||||||||
Exercisable at September 30, 2013 | — | $ | — | — | $ | — | ||||||||||
Class A Ordinary Shares [Member] | Restricted Shares and Share Units [Member] | ' | |||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||||||||||||||
Other-than-options activity | ' | |||||||||||||||
Restricted shares and restricted share units — Class A ordinary shares | Number of | Weighted | Weighted | |||||||||||||
shares | average | average | ||||||||||||||
grant-date | remaining | |||||||||||||||
fair value | contractual | |||||||||||||||
per share | term | |||||||||||||||
in years | ||||||||||||||||
Outstanding at January 1, 2013 | 332,008 | $ | 40.53 | |||||||||||||
Virgin Media Replacement Awards (a) | 900,408 | $ | 76.24 | |||||||||||||
Granted | 128,958 | $ | 74.05 | |||||||||||||
Forfeited | (22,527 | ) | $ | 64.4 | ||||||||||||
Released from restrictions | (343,935 | ) | $ | 59.29 | ||||||||||||
Outstanding at September 30, 2013 | 994,912 | $ | 70.05 | 6.4 | ||||||||||||
Class A Ordinary Shares [Member] | Performance Share Units (PSUs) [Member] | ' | |||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||||||||||||||
Other-than-options activity | ' | |||||||||||||||
PSUs — Class A ordinary shares | Number of | Weighted | Weighted | |||||||||||||
shares | average | average | ||||||||||||||
grant-date | remaining | |||||||||||||||
fair value | contractual | |||||||||||||||
per share | term | |||||||||||||||
in years | ||||||||||||||||
Outstanding at January 1, 2013 | 759,585 | $ | 46.54 | |||||||||||||
Granted | 579,634 | $ | 71.97 | |||||||||||||
Forfeited | (19,407 | ) | $ | 54.81 | ||||||||||||
Released from restrictions | (328,403 | ) | $ | 40.75 | ||||||||||||
Outstanding at September 30, 2013 | 991,409 | $ | 63.22 | 1.6 | ||||||||||||
Class C Ordinary Shares [Member] | Stock Options [Member] | ' | |||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||||||||||||||
Stock options activity | ' | |||||||||||||||
Options — Class C ordinary shares | Number of | Weighted | Weighted | Aggregate | ||||||||||||
shares | average | average | intrinsic value | |||||||||||||
exercise price | remaining | |||||||||||||||
contractual | ||||||||||||||||
term | ||||||||||||||||
in years | in millions | |||||||||||||||
Outstanding at January 1, 2013 | 842,771 | $ | 24.59 | |||||||||||||
Virgin Media Replacement Awards | 2,935,250 | $ | 27.16 | |||||||||||||
Granted | 67,334 | $ | 68.16 | |||||||||||||
Cancelled | (54,347 | ) | $ | 71.4 | ||||||||||||
Exercised | (1,053,160 | ) | $ | 24.9 | ||||||||||||
Outstanding at September 30, 2013 | 2,737,848 | $ | 27.81 | 6.2 | $ | 130.4 | ||||||||||
Exercisable at September 30, 2013 | 1,507,738 | $ | 22.14 | 4.7 | $ | 80.3 | ||||||||||
Class C Ordinary Shares [Member] | Stock Appreciation Rights (SARs) [Member] | ' | |||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||||||||||||||
Other-than-options activity | ' | |||||||||||||||
SARs — Class C ordinary shares | Number of | Weighted | Weighted | Aggregate | ||||||||||||
shares | average | average | intrinsic value | |||||||||||||
base price | remaining | |||||||||||||||
contractual | ||||||||||||||||
term | ||||||||||||||||
in years | in millions | |||||||||||||||
Outstanding at January 1, 2013 | 3,786,754 | $ | 35.58 | |||||||||||||
Granted | 1,229,616 | $ | 69.13 | |||||||||||||
Forfeited | (27,288 | ) | $ | 44.9 | ||||||||||||
Exercised | (650,489 | ) | $ | 24.41 | ||||||||||||
Outstanding at September 30, 2013 | 4,338,593 | $ | 46.7 | 5 | $ | 123.9 | ||||||||||
Exercisable at September 30, 2013 | 1,656,766 | $ | 32.61 | 3.8 | $ | 70.2 | ||||||||||
Class C Ordinary Shares [Member] | Performance Stock Appreciation Rights (PSARs) [Member] | ' | |||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||||||||||||||
Other-than-options activity | ' | |||||||||||||||
PSARs — Class C ordinary shares | Number of | Weighted | Weighted | Aggregate | ||||||||||||
shares | average | average | intrinsic value | |||||||||||||
base price | remaining | |||||||||||||||
contractual | ||||||||||||||||
term | ||||||||||||||||
in years | in millions | |||||||||||||||
Outstanding at January 1, 2013 | — | $ | — | |||||||||||||
Granted | 2,896,250 | $ | 65.63 | |||||||||||||
Outstanding at September 30, 2013 | 2,896,250 | $ | 65.63 | 6.7 | $ | 28.4 | ||||||||||
Exercisable at September 30, 2013 | — | $ | — | — | $ | — | ||||||||||
Class C Ordinary Shares [Member] | Restricted Shares and Share Units [Member] | ' | |||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||||||||||||||
Other-than-options activity | ' | |||||||||||||||
Restricted shares and restricted share units — Class C ordinary shares | Number of | Weighted | Weighted | |||||||||||||
shares | average | average | ||||||||||||||
grant-date | remaining | |||||||||||||||
fair value | contractual | |||||||||||||||
per share | term | |||||||||||||||
in years | ||||||||||||||||
Outstanding at January 1, 2013 | 332,301 | $ | 39.13 | |||||||||||||
Virgin Media Replacement Awards (a) | 671,923 | $ | 71.51 | |||||||||||||
Granted | 128,958 | $ | 68.89 | |||||||||||||
Forfeited | (19,064 | ) | $ | 58.91 | ||||||||||||
Released from restrictions | (299,923 | ) | $ | 53.96 | ||||||||||||
Outstanding at September 30, 2013 | 814,195 | $ | 64.67 | 6 | ||||||||||||
______________ | ||||||||||||||||
(a) | The amounts shown as the grant-date fair values per share for these awards represent the June 7, 2013 market prices of the applicable LGI Series A or Series C common stock that were assigned to these awards when they were remeasured in connection with the Virgin Media Acquisition. | |||||||||||||||
Class C Ordinary Shares [Member] | Performance Share Units (PSUs) [Member] | ' | |||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||||||||||||||
Other-than-options activity | ' | |||||||||||||||
PSUs — Class C ordinary shares | Number of | Weighted | Weighted | |||||||||||||
shares | average | average | ||||||||||||||
grant-date | remaining | |||||||||||||||
fair value | contractual | |||||||||||||||
per share | term | |||||||||||||||
in years | ||||||||||||||||
Outstanding at January 1, 2013 | 759,585 | $ | 44.68 | |||||||||||||
Granted | 548,222 | $ | 67.67 | |||||||||||||
Forfeited | (17,457 | ) | $ | 49.82 | ||||||||||||
Released from restrictions | (328,403 | ) | $ | 39.21 | ||||||||||||
Outstanding at September 30, 2013 | 961,947 | $ | 59.57 | 1.6 | ||||||||||||
Restructuring_Liabilities_Tabl
Restructuring Liabilities (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||||||
Schedule of Restructuring Liabilities | ' | ||||||||||||||||
A summary of changes in our restructuring liabilities during the nine months ended September 30, 2013 is set forth in the table below: | |||||||||||||||||
Employee | Office | Contract termination and other | Total | ||||||||||||||
severance | closures | ||||||||||||||||
and | |||||||||||||||||
termination | |||||||||||||||||
in millions | |||||||||||||||||
Restructuring liability as of January 1, 2013 | $ | 39.7 | $ | 4 | $ | 13.1 | $ | 56.8 | |||||||||
Restructuring charges | 50.7 | 0.7 | 87.8 | 139.2 | |||||||||||||
Cash paid | (60.2 | ) | (6.6 | ) | (3.9 | ) | (70.7 | ) | |||||||||
Virgin Media liability at acquisition date | 0.1 | 23.3 | — | 23.4 | |||||||||||||
Foreign currency translation adjustments and other | 0.5 | 0.7 | (4.9 | ) | (3.7 | ) | |||||||||||
Restructuring liability as of September 30, 2013 | $ | 30.8 | $ | 22.1 | $ | 92.1 | $ | 145 | |||||||||
Short-term portion | $ | 30.7 | $ | 20.5 | $ | 29.8 | $ | 81 | |||||||||
Long-term portion | 0.1 | 1.6 | 62.3 | 64 | |||||||||||||
Total | $ | 30.8 | $ | 22.1 | $ | 92.1 | $ | 145 | |||||||||
Earnings_Loss_per_Common_Share1
Earnings (Loss) per Common Share (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Details of Net Earnings (Loss) Attributable to LGI Stockholders | ' | |||||||||||||||
The details of our net earnings (loss) attributable to Liberty Global shareholders are set forth below: | ||||||||||||||||
Three months ended | Nine months ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
in millions | ||||||||||||||||
Amounts attributable to Liberty Global shareholders: | ||||||||||||||||
Loss from continuing operations | $ | (830.1 | ) | $ | (22.4 | ) | $ | (842.7 | ) | $ | (285.6 | ) | ||||
Earnings from discontinued operation | — | — | — | 939.7 | ||||||||||||
Net earnings (loss) attributable to Liberty Global shareholders | $ | (830.1 | ) | $ | (22.4 | ) | $ | (842.7 | ) | $ | 654.1 | |||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||||||||||||||||||||||||||
Unrecorded Purchase Obligation | ' | |||||||||||||||||||||||||||||||
The U.S. dollar equivalents of such commitments as of September 30, 2013 are presented below: | ||||||||||||||||||||||||||||||||
Payments due during: | ||||||||||||||||||||||||||||||||
Remainder | Year ending December 31, | |||||||||||||||||||||||||||||||
of | ||||||||||||||||||||||||||||||||
2013 | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||||||||||
Programming obligations | $ | 148.9 | $ | 502.1 | $ | 379.9 | $ | 254 | $ | 127.4 | $ | 27.5 | $ | 0.3 | $ | 1,440.10 | ||||||||||||||||
Operating leases | 68.9 | 205.8 | 176.9 | 139.6 | 112.7 | 79.8 | 385.5 | 1,169.20 | ||||||||||||||||||||||||
Other commitments | 892.5 | 771.8 | 626.7 | 470.5 | 362.3 | 190.4 | 1,292.80 | 4,607.00 | ||||||||||||||||||||||||
Total | $ | 1,110.30 | $ | 1,479.70 | $ | 1,183.50 | $ | 864.1 | $ | 602.4 | $ | 297.7 | $ | 1,678.60 | $ | 7,216.30 | ||||||||||||||||
Segment_Reporting_Tables
Segment Reporting (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Segment Reporting, Measurement Disclosures [Abstract] | ' | |||||||||||||||
Revenue and Operating Cash Flow by Segment | ' | |||||||||||||||
The amounts presented below represent 100% of each of our reportable segment’s revenue and operating cash flow. As we have the ability to control Telenet, the VTR Group and Liberty Puerto Rico, we consolidate 100% of the revenue and expenses of these entities in our condensed consolidated statements of operations despite the fact that third parties own significant interests in these entities. The noncontrolling owners’ interests in the operating results of Telenet, the VTR Group, Liberty Puerto Rico and other less significant majority-owned subsidiaries are reflected in net earnings or loss attributable to noncontrolling interests in our condensed consolidated statements of operations. | ||||||||||||||||
Revenue | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
in millions | ||||||||||||||||
European Operations Division: | ||||||||||||||||
U.K. (Virgin Media) (a) | $ | 1,587.40 | $ | — | $ | 1,988.70 | $ | — | ||||||||
Germany (Unitymedia KabelBW) | 641.3 | 568.7 | 1,884.10 | 1,695.60 | ||||||||||||
Belgium (Telenet) | 545.6 | 461 | 1,616.20 | 1,404.70 | ||||||||||||
The Netherlands | 305.4 | 300.3 | 923.4 | 914.7 | ||||||||||||
Switzerland | 332.1 | 308 | 982 | 934.3 | ||||||||||||
Other Western Europe | 223.5 | 207.9 | 665.7 | 628.3 | ||||||||||||
Total Western Europe | 3,635.30 | 1,845.90 | 8,060.10 | 5,577.60 | ||||||||||||
Central and Eastern Europe | 279.1 | 273.9 | 848.4 | 829.8 | ||||||||||||
Central and other | 33.4 | 29 | 96.7 | 86.1 | ||||||||||||
Total European Operations Division | 3,947.80 | 2,148.80 | 9,005.20 | 6,493.50 | ||||||||||||
Chile (VTR Group) | 244.8 | 241 | 747.9 | 692.3 | ||||||||||||
Corporate and other | 199.8 | 150.3 | 610.5 | 451.3 | ||||||||||||
Intersegment eliminations | (21.2 | ) | (21.0 | ) | (62.8 | ) | (56.5 | ) | ||||||||
Total | $ | 4,371.20 | $ | 2,519.10 | $ | 10,300.80 | $ | 7,580.60 | ||||||||
________________ | ||||||||||||||||
(a) | The amount presented for the 2013 nine-month period reflects the post-acquisition revenue of Virgin Media from June 8, 2013 through September 30, 2013. | |||||||||||||||
Operating cash flow | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
in millions | ||||||||||||||||
European Operations Division: | ||||||||||||||||
U.K. (Virgin Media) (a) | $ | 663 | $ | — | $ | 838.3 | $ | — | ||||||||
Germany (Unitymedia KabelBW) | 391.2 | 340.9 | 1,120.60 | 998.1 | ||||||||||||
Belgium (Telenet) | 275.4 | 240.7 | 792.1 | 713.4 | ||||||||||||
The Netherlands | 176.3 | 183.7 | 532.2 | 545.2 | ||||||||||||
Switzerland | 200.8 | 176.5 | 572.2 | 532.7 | ||||||||||||
Other Western Europe | 113.8 | 103.2 | 324.2 | 297.7 | ||||||||||||
Total Western Europe | 1,820.50 | 1,045.00 | 4,179.60 | 3,087.10 | ||||||||||||
Central and Eastern Europe | 131.9 | 137.7 | 407.6 | 410.2 | ||||||||||||
Central and other | (44.5 | ) | (36.1 | ) | (144.5 | ) | (116.1 | ) | ||||||||
Total European Operations Division | 1,907.90 | 1,146.60 | 4,442.70 | 3,381.20 | ||||||||||||
Chile (VTR Group) | 84.5 | 81.5 | 256.5 | 232 | ||||||||||||
Corporate and other | 8.6 | (3.4 | ) | 21.1 | 2 | |||||||||||
Total | $ | 2,001.00 | $ | 1,224.70 | $ | 4,720.30 | $ | 3,615.20 | ||||||||
Total Segment Operating Cash Flow to Earnings (Loss) from Continuing Operations before Income Taxes | ' | |||||||||||||||
The following table provides a reconciliation of total segment operating cash flow from continuing operations to earnings (loss) from continuing operations before income taxes: | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
in millions | ||||||||||||||||
Total segment operating cash flow from continuing operations | $ | 2,001.00 | $ | 1,224.70 | $ | 4,720.30 | $ | 3,615.20 | ||||||||
Share-based compensation expense | (98.7 | ) | (27.2 | ) | (219.4 | ) | (90.5 | ) | ||||||||
Depreciation and amortization | (1,390.5 | ) | (670.3 | ) | (2,947.9 | ) | (2,009.7 | ) | ||||||||
Release of litigation provision | 146 | — | 146 | — | ||||||||||||
Impairment, restructuring and other operating items, net | (135.9 | ) | (18.1 | ) | (206.5 | ) | (32.6 | ) | ||||||||
Operating income | 521.9 | 509.1 | 1,492.50 | 1,482.40 | ||||||||||||
Interest expense | (630.2 | ) | (408.6 | ) | (1,642.7 | ) | (1,228.8 | ) | ||||||||
Interest and dividend income | 62 | 17.8 | 111.2 | 38.7 | ||||||||||||
Realized and unrealized losses on derivative instruments, net | (876.3 | ) | (237.2 | ) | (685.2 | ) | (613.9 | ) | ||||||||
Foreign currency transaction gains, net | 255 | 150.2 | 211.6 | 154.8 | ||||||||||||
Realized and unrealized gains (losses) due to changes in fair values of certain investments, net | 78.9 | (18.1 | ) | 344.1 | (1.3 | ) | ||||||||||
Losses on debt modifications and extinguishment, net | (0.7 | ) | (13.8 | ) | (170.7 | ) | (27.5 | ) | ||||||||
Gains due to changes in ownership | — | 52.5 | — | 52.5 | ||||||||||||
Other income (expense), net | (3.4 | ) | 3.4 | (6.6 | ) | (0.6 | ) | |||||||||
Earnings (loss) from continuing operations before income taxes | $ | (592.8 | ) | $ | 55.3 | $ | (345.8 | ) | $ | (143.7 | ) | |||||
Revenue by Major Category | ' | |||||||||||||||
Our revenue by major category is set forth below: | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
in millions | ||||||||||||||||
Subscription revenue (a): | ||||||||||||||||
Video | $ | 1,599.60 | $ | 1,128.40 | $ | 4,087.10 | $ | 3,435.90 | ||||||||
Broadband internet (b) | 1,023.70 | 595.3 | 2,448.20 | 1,776.60 | ||||||||||||
Telephony (b) | 768.5 | 380 | 1,696.60 | 1,130.80 | ||||||||||||
Total subscription revenue | 3,391.80 | 2,103.70 | 8,231.90 | 6,343.30 | ||||||||||||
Other revenue (b) (c) | 979.4 | 415.4 | 2,068.90 | 1,237.30 | ||||||||||||
Total | $ | 4,371.20 | $ | 2,519.10 | $ | 10,300.80 | $ | 7,580.60 | ||||||||
_______________ | ||||||||||||||||
(a) | Subscription revenue includes amounts received from subscribers for ongoing services, excluding installation fees, late fees and mobile services revenue. Subscription revenue from subscribers who purchase bundled services at a discounted rate is generally allocated proportionally to each service based on the standalone price for each individual service. | |||||||||||||||
(b) | In connection with the Virgin Media Acquisition, we determined that we would no longer externally report digital subscriber line (DSL) subscribers as revenue generating units (RGUs). Accordingly, we have reclassified the revenue from our DSL subscribers in Austria from broadband internet and telephony subscription revenue to other revenue for all periods presented. | |||||||||||||||
(c) | Other revenue includes non-subscription revenue (including B2B, mobile services, interconnect, installation revenue and carriage fees) and programming revenue. | |||||||||||||||
Geographic Segments | ' | |||||||||||||||
The revenue of our geographic segments is set forth below: | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
in millions | ||||||||||||||||
European Operations Division: | ||||||||||||||||
United Kingdom (a) | $ | 1,587.40 | $ | — | $ | 1,988.70 | $ | — | ||||||||
Germany | 641.3 | 568.7 | 1,884.10 | 1,695.60 | ||||||||||||
Belgium | 545.6 | 461 | 1,616.20 | 1,404.70 | ||||||||||||
The Netherlands | 305.4 | 300.3 | 923.4 | 914.7 | ||||||||||||
Switzerland | 332.1 | 308 | 982 | 934.3 | ||||||||||||
Austria | 108.3 | 102.7 | 323.8 | 315.1 | ||||||||||||
Ireland | 115.2 | 105.2 | 341.9 | 313.2 | ||||||||||||
Poland | 110.9 | 110.6 | 340.6 | 334.8 | ||||||||||||
Hungary | 63.7 | 62.1 | 190.9 | 182.9 | ||||||||||||
The Czech Republic | 54 | 55.4 | 166.1 | 169.6 | ||||||||||||
Romania | 34.7 | 31.1 | 103.6 | 97.1 | ||||||||||||
Slovakia | 15.8 | 14.7 | 47.2 | 45.4 | ||||||||||||
Other (b) | 33.4 | 29 | 96.7 | 86.1 | ||||||||||||
Total European Operations Division | 3,947.80 | 2,148.80 | 9,005.20 | 6,493.50 | ||||||||||||
Chellomedia: | ||||||||||||||||
Poland | 18 | 22.3 | 62.5 | 78.9 | ||||||||||||
The Netherlands | 22.8 | 20.6 | 71.9 | 66.2 | ||||||||||||
Spain | 13.3 | 15.9 | 45.1 | 49.6 | ||||||||||||
Hungary | 16.8 | 13.6 | 49.5 | 43 | ||||||||||||
Other (c) | 54.2 | 47.6 | 159.6 | 123.6 | ||||||||||||
Total Chellomedia | 125.1 | 120 | 388.6 | 361.3 | ||||||||||||
Chile | 244.8 | 241 | 747.9 | 692.3 | ||||||||||||
Puerto Rico | 74.7 | 30.3 | 221.9 | 90 | ||||||||||||
Intersegment eliminations and other | (21.2 | ) | (21.0 | ) | (62.8 | ) | (56.5 | ) | ||||||||
Total | $ | 4,371.20 | $ | 2,519.10 | $ | 10,300.80 | $ | 7,580.60 | ||||||||
_______________ | ||||||||||||||||
(a) | The amount presented for the 2013 nine-month period reflects the post-acquisition revenue of Virgin Media from June 8, 2013 through September 30, 2013. | |||||||||||||||
(b) | Primarily represents revenue of UPC DTH from customers located in Hungary, the Czech Republic, Romania and Slovakia. | |||||||||||||||
(c) | Chellomedia’s other geographic segments are located primarily in the U.K., Latin America, Portugal, the Czech Republic, Romania, Slovakia and Italy. |
Basis_of_Presentation_Narrativ
Basis of Presentation (Narrative) (Details) | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Nov. 08, 2012 | 23-May-12 |
Liberty Global [Member] | Telenet | VTR [Member] | VTR Wireless SA [Member] | Europe [Member] | LGI Broadband Operations [Member] | Austar [Member] | |
Countries | LGI Europe Holding BV [Member] | Puerto Rico | |||||
Countries | |||||||
Basis of Presentation [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Number of countries in which entity provides services (in countries) | 14 | ' | ' | ' | 9 | ' | ' |
Percentage ownership in subsidiary | ' | 57.80% | 80.00% | 80.00% | ' | 60.00% | 54.15% |
Acquisitions_and_Dispositions_1
Acquisitions and Dispositions (Narrative) (Details) | 3 Months Ended | 9 Months Ended | 0 Months Ended | 4 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | ||||||||||||||||||||||||||||||||||||||||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 07, 2013 | Jun. 07, 2013 | Jun. 07, 2013 | Jun. 07, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jun. 07, 2013 | Jun. 07, 2013 | Nov. 09, 2012 | Nov. 08, 2012 | Sep. 16, 2011 | Sep. 16, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Jun. 07, 2013 | Jun. 07, 2013 | Jun. 07, 2013 | Jun. 07, 2013 | Jun. 07, 2013 | Jun. 07, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 07, 2013 | Jun. 07, 2013 | Jun. 07, 2013 | Jun. 07, 2013 | Jun. 07, 2013 | Jun. 07, 2013 | Nov. 09, 2012 | Nov. 09, 2012 | Nov. 09, 2012 | Nov. 08, 2012 | |||||
USD ($) | USD ($) | USD ($) | USD ($) | Stock Options [Member] | Restricted Stock Units (RSUs) [Member] | Virgin Media Acquisition [Member] | Virgin Media Acquisition [Member] | Virgin Media Acquisition [Member] | Virgin Media Acquisition [Member] | Merger Agreement Creating Ultimate Parent Company [Member] | One Link [Member] | Searchlight [Member] | Aster [Member] | Aster [Member] | Class A Ordinary Shares [Member] | Class B Ordinary Shares [Member] | Class C Ordinary Shares [Member] | Series A Common Stock [Member] | Series B Common Stock [Member] | Series C Common Stock [Member] | Virgin Media | Virgin Media | Virgin Media | Virgin Media | Virgin Media | Virgin Media | Virgin Media | Virgin Media | Liberty Global [Member] | Liberty Global [Member] | Liberty Global [Member] | Liberty Global [Member] | Liberty Global [Member] | Liberty Global [Member] | Liberty Global [Member] | Liberty Global [Member] | Liberty Global [Member] | Liberty Global [Member] | LGI Broadband Operations [Member] | LGI Broadband Operations [Member] | Searchlight [Member] | Puerto Rico | |||||||
USD ($) | VM Convertible Notes | Capacity Arrangement Contract [Member] | Capacity Arrangement Contract [Member] | VM Notes | USD ($) | USD ($) | PLN | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Merger Agreement Creating Ultimate Parent Company [Member] | Class A Ordinary Shares [Member] | Class A Ordinary Shares [Member] | Class C Ordinary Shares [Member] | Class C Ordinary Shares [Member] | Common Stock [Member] | USD ($) | USD ($) | USD ($) | USD ($) | Class A Ordinary Shares [Member] | Class B Ordinary Shares [Member] | Class C Ordinary Shares [Member] | Series A Common Stock [Member] | Series B Common Stock [Member] | Series C Common Stock [Member] | Old Liberty Puerto Rico [Member] | One Link [Member] | Leo Cable [Member] | LGI Broadband Operations [Member] | ||||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | Merger Agreement Creating Ultimate Parent Company [Member] | Merger Agreement Creating Ultimate Parent Company [Member] | Merger Agreement Creating Ultimate Parent Company [Member] | Merger Agreement Creating Ultimate Parent Company [Member] | Merger Agreement Creating Ultimate Parent Company [Member] | USD ($) | USD ($) | USD ($) | USD ($) | |||||||||||||||||||||||||||||||||||||
vote | vote | ||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Common stock, par/nominal value (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Acquired entity cash received from acquiring entity (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $17.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Acquired entity shares received of acquiring entity (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.2582 | ' | 0.1928 | ' | ' | ' | ' | ' | 1 | 1 | 1 | ' | ' | ' | ' | ' | ' | ' | |||||
Common stock, issued (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 222,010,987 | 10,174,295 | 163,895,337 | 142,284,430 | 10,206,145 | 106,402,667 | ' | ' | ' | 70,233,842 | ' | 52,444,170 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 141,234,331 | 10,176,295 | 105,572,797 | ' | ' | ' | ' | |||||
Number of votes allowed per class of stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 10 | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Granted security interest in escrow account | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,557.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Common stock, outstanding (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 222,010,987 | 10,174,295 | 163,895,337 | 142,284,430 | 10,206,145 | 106,402,667 | ' | ' | ' | ' | ' | ' | ' | 272,013,333 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Share price (in dollar/euro per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $76.24 | ' | $71.51 | ' | ' | ' | ' | |||||
Stock incentive awards outstanding (in shares) | ' | ' | ' | ' | 13,030,000 | 9,860,000 | 3,170,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Weighted average useful life of acquired intangible assets | ' | ' | ' | ' | ' | ' | ' | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Other current liabilities | ' | ' | ' | ' | ' | ' | ' | 1,892.50 | [1],[2] | ' | ' | 35.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Other current liabilities amortized | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Percentage of debt instrument conversion | ' | ' | ' | ' | ' | ' | ' | ' | 94.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Ownership percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | ' | ' | |||||
Cash contribution to fund acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 94.7 | ' | |||||
Closing adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Cost of acquired entity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 96.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Fair falue of debt and capital lease obligations less cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 496 | ' | ' | |||||
Business acquisition cost of acquired entity before transaction cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 784.7 | 2,445.70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 592.5 | ' | ' | |||||
Business acquisition, cost of acquired entity, transaction costs | ' | ' | ' | ' | ' | ' | ' | 50.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14.8 | ' | ' | |||||
Portion of purchase price retained to satisfy claims | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10 | ' | ' | |||||
Percentage ownership in subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% | |||||
Business acquisition percentage of voting interests acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | 100.00% | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue included in statement of operations | 4,371.20 | [3] | 2,519.10 | [3] | 10,300.80 | [3] | 7,580.60 | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Net loss included in statement of operations | ($830.10) | ($22.40) | ($842.70) | $654.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($761.90) | ($757.20) | ' | ' | ' | ' | ' | ' | ($830.10) | ($22.40) | ($842.70) | $654.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
[1] | No amounts have been allocated to deferred revenue with respect to the ongoing performance obligations associated with Virgin Media's business-to-business (B2B) service contracts, as our view is that the remaining fees to be received under these contracts approximate fair value given our estimates of the costs associated with these ongoing obligations. Our policy is to defer upfront installation and certain nonrecurring fees received on B2B contracts where we maintain ownership of the installed equipment, which generally is the case with Virgin Media's B2B contracts. Under our policy, the deferred fees are amortized into revenue on a straight-line basis over the life of the underlying service contract. | ||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Amount includes a $35.6 million liability that was recorded to adjust an unfavorable capacity contract to its estimated fair value. This amount will be amortized through the March 31, 2014 expiration date of the contract as a reduction of Virgin Media's operating expenses so that the net effect of this amortization and the payments required under the contract approximate market rates. During the period from June 8, 2013 through SeptemberB 30, 2013, $11.2 million of this liability was amortized. | ||||||||||||||||||||||||||||||||||||||||||||||||
[3] | In connection with the Virgin Media Acquisition, we determined that we would no longer externally report digital subscriber line (DSL) subscribers as revenue generating units (RGUs). Accordingly, we have reclassified the revenue from our DSL subscribers in Austria from broadband internet and telephony subscription revenue to other revenue for all periods presented. |
Acquisitions_and_Dispositions_2
Acquisitions and Dispositions - Virgin Media Acquisition Tables (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 07, 2013 | Jun. 07, 2013 | Jun. 07, 2013 | Jun. 07, 2013 | |||
In Millions, except Per Share data, unless otherwise specified | Virgin Media Acquisition [Member] | Class A Ordinary Shares [Member] | Class C Ordinary Shares [Member] | Virgin Media | |||||
Virgin Media Acquisition [Member] | Virgin Media Acquisition [Member] | Merger Agreement Creating Ultimate Parent Company [Member] | |||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | |||
Business Acquisition Acquired Entity Cash Per Share to Be Received from Acquiring Entity in Part Non-cash Transaction | ' | ' | ' | ' | ' | $17.50 | |||
Equity and cash consideration paid | ' | ' | ' | ' | ' | ' | |||
Liberty Global Class A & C ordinary shares | ' | ' | ' | $5,354.60 | [1] | $3,750.30 | [1] | ' | |
Cash | ' | ' | 4,760.20 | [2] | ' | ' | ' | ||
Fair value of the vested portion of Virgin Media stock incentive awards | ' | ' | 270.4 | [3] | ' | ' | ' | ||
Total equity and cash consideration | ' | ' | 14,135.50 | ' | ' | ' | |||
Summary of the preliminary purchase price and opening balance sheet | ' | ' | ' | ' | ' | ' | |||
Cash and cash equivalents | ' | ' | 694.6 | ' | ' | ' | |||
Other current assets | ' | ' | 935.9 | ' | ' | ' | |||
Property and equipment, net | ' | ' | 9,863.10 | ' | ' | ' | |||
Goodwill | 23,565.60 | 13,877.60 | 9,020.20 | [4] | ' | ' | ' | ||
Intangible assets subject to amortization | ' | ' | 3,925.80 | [5] | ' | ' | ' | ||
Other assets, net | ' | ' | 4,236.60 | ' | ' | ' | |||
Current portion of debt and capital lease obligations | ' | ' | -1,184.50 | ' | ' | ' | |||
Other accrued and current liabilities | ' | ' | -1,892.50 | [6],[7] | ' | ' | ' | ||
Long-term debt and capital lease obligations | ' | ' | -8,477.40 | ' | ' | ' | |||
Other long-term liabilities | ' | ' | -1,326.30 | [6] | ' | ' | ' | ||
Additional paid-in capital | ' | ' | -1,660 | [7] | ' | ' | ' | ||
Total purchase price | ' | ' | $14,135.50 | [8] | ' | ' | ' | ||
[1] | Represents the value assigned to the 70,233,842 Class A and 52,444,170 Class C ordinary shares issued to Virgin Media shareholders in connection with the Virgin Media Acquisition. These amounts are based on (i)B the exchange ratios specified by the Virgin Media Merger Agreement, (ii)B the closing per share price on June 7, 2013 of Series A and Series C LGI common stock of $76.24 and $71.51, respectively, and (iii)B the 272,013,333 outstanding shares of Virgin Media common stock at June 7, 2013. | ||||||||
[2] | Represents the cash consideration paid in connection with the Virgin Media Acquisition. This amount is based on (i)B the $17.50 per share cash consideration specified by the Virgin Media Merger Agreement and (ii)B the 272,013,333 outstanding shares of Virgin Media common stock at June 7, 2013. | ||||||||
[3] | Represents the portion of the estimated fair value of the Virgin Media stock incentive awards that are attributable to services provided prior to the June 7, 2013 acquisition date. The estimated fair value is based on the attributes of the 13.03 million outstanding Virgin Media stock incentive awards at June 7, 2013, including the market price of the underlying Virgin Media common stock. The outstanding Virgin Media stock incentive awards at June 7, 2013 include 9.86 million stock options that have been valued using Black Scholes option valuations. In addition, Virgin Mediabs stock incentive awards at June 7, 2013 included 3.17 million restricted stock units that included performance conditions and, in certain cases, market conditions. Those restricted stock units with market conditions have been valued using Monte Carlo simulation models. | ||||||||
[4] | The goodwill recognized in connection with the Virgin Media Acquisition is primarily attributable to (i)B the ability to take advantage of Virgin Mediabs existing advanced broadband communications network to gain immediate access to potential customers and (ii)B substantial synergies that are expected to be achieved through the integration of Virgin Media with our other broadband communications operations in Europe. | ||||||||
[5] | Amount primarily includes intangible assets related to customer relationships. At June 7, 2013, the weighted average useful life of Virgin Mediabs intangible assets was approximately seven years. | ||||||||
[6] | No amounts have been allocated to deferred revenue with respect to the ongoing performance obligations associated with Virgin Media's business-to-business (B2B) service contracts, as our view is that the remaining fees to be received under these contracts approximate fair value given our estimates of the costs associated with these ongoing obligations. Our policy is to defer upfront installation and certain nonrecurring fees received on B2B contracts where we maintain ownership of the installed equipment, which generally is the case with Virgin Media's B2B contracts. Under our policy, the deferred fees are amortized into revenue on a straight-line basis over the life of the underlying service contract. | ||||||||
[7] | Amount includes a $35.6 million liability that was recorded to adjust an unfavorable capacity contract to its estimated fair value. This amount will be amortized through the March 31, 2014 expiration date of the contract as a reduction of Virgin Media's operating expenses so that the net effect of this amortization and the payments required under the contract approximate market rates. During the period from June 8, 2013 through SeptemberB 30, 2013, $11.2 million of this liability was amortized. | ||||||||
[8] | Represents the equity component of the VM Convertible Notes (as defined and described in note 7). During the period from June 7, 2013 through September 30, 2013, 94.4% of the VM Convertible Notes were exchanged for Class A and Class C ordinary shares and cash pursuant to the terms of the VM Convertible Notes Indenture. For additional information, see note 7. |
Acquisitions_and_Dispositions_3
Acquisitions and Dispositions (Pro Forma Information) (Details) (Virgin Media Acquisition and Puerto Rico Transaction [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Business Acquisition [Line Items] | ' | ' | ' | ' |
Revenue: | $4,371.20 | $4,147.20 | $13,070.50 | $12,451 |
Net earnings (loss) attributable to Liberty Global shareholders | -830.1 | -56.9 | -1,157.20 | 270.1 |
Continuing Operations [Member] | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' |
Revenue: | 4,371.20 | 4,040.70 | 13,070.50 | 12,157.30 |
Discontinued Operations [Member] | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' |
Revenue: | $0 | $106.50 | $0 | $293.70 |
Class A Ordinary Shares [Member] | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' |
Basic and diluted earnings (loss) attributable to Liberty Global shareholders per share | ($2.09) | ($0.14) | ($2.90) | $0.65 |
Class B Ordinary Shares [Member] | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' |
Basic and diluted earnings (loss) attributable to Liberty Global shareholders per share | ($2.09) | ($0.14) | ($2.90) | $0.65 |
Class C Ordinary Shares [Member] | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' |
Basic and diluted earnings (loss) attributable to Liberty Global shareholders per share | ($2.09) | ($0.14) | ($2.90) | $0.65 |
Acquisitions_and_Dispositions_4
Acquisitions and Dispositions (Discontinued Operation) (Details) (Austar [Member], USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2012 | |
Austar [Member] | ' | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | |
Revenue | $293.70 | [1] |
Operating income | 78.7 | [1] |
Earnings before income taxes and noncontrolling interests | 49.6 | [1] |
Income tax expense | -14.1 | [1] |
Earnings from discontinued operation attributable to Liberty Global shareholders, net of taxes | $15.60 | [1] |
[1] | Represents the operating results of Austar through May 23, 2012, the date the sale of Austar was completed. |
Investments_Schedule_of_Invest
Investments (Schedule of Investments by Accounting Method) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Investment [Line Items] | ' | ' | ||
Total b fair value | $3,306 | $947.90 | ||
Equity | 0.6 | 1.7 | ||
Cost | 0.5 | 0.5 | ||
Total | 3,307.10 | 950.1 | ||
Ziggo N.V. [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Total b fair value | 2,309.30 | [1] | 0 | [1] |
Sumitomo Common Stock [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Total b fair value | 614.5 | [2] | 579.7 | [2] |
Cyfra, Privately Held DTH Operator in Poland [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Total b fair value | 382.2 | [3] | 368.2 | [3] |
Securities Not Subject to Re-Use Rights [Member] | Ziggo N.V. [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Total b fair value | 1,373.90 | [1] | 0 | [1] |
Securities Subject to Re-Use Rights [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Total b fair value | 0 | 0 | ||
Securities Subject to Re-Use Rights [Member] | Ziggo N.V. [Member] | ' | ' | ||
Investment [Line Items] | ' | ' | ||
Total b fair value | $935.40 | [1] | $0 | [1] |
[1] | During the first nine months of 2013, we acquired an aggregate of 57,000,738 shares of Ziggo N.V. (Ziggo), a publicly-traded company in the Netherlands, at an average price of €26.40 ($35.73) per share, for a total investment of €1,505.0 million ($2,036.5 million). Ziggo is the largest cable operator in the Netherlands in terms of customers. As a result of these investments, we effectively owned 28.5% of the outstanding shares of Ziggo at SeptemberB 30, 2013. At SeptemberB 30, 2013, the market price of Ziggo shares was €29.94 ($40.51) per share. In April 2013, LGE HoldCo V BV (LGE HoldCo), our wholly-owned subsidiary, entered into a limited recourse margin loan agreement (the Ziggo Margin Loan) with respect to a portion of our investment in Ziggo, and in July 2013, we entered into a share collar (the Ziggo Collar) and secured borrowing arrangement (the Ziggo Collar Loan) with respect to a portion of our owned Ziggo shares. All but 4,743,738 of the Ziggo shares that we owned at SeptemberB 30, 2013 were pledged as collateral under one or the other of these two arrangements. During the second and third quarters of 2013, we received aggregate cash dividends from Ziggo of $78.4 million after taking into account the impact of the Ziggo Collar. | |||
[2] | At SeptemberB 30, 2013, we owned 45,652,043 shares of Sumitomo Corporation (Sumitomo) common stock. Our Sumitomo shares represented less than 5% of Sumitomobs outstanding common stock at SeptemberB 30, 2013. These shares secure a loan (the Sumitomo Collar Loan) to Liberty Programming Japan LLC, our wholly-owned subsidiary. | |||
[3] | Includes various fair value investments, the most significant of which is our 17.0% interest in Canal+ Cyfrowy S.A., a privately-held DTH operator in Poland. |
Investments_Narrative_Details
Investments (Narrative) (Details) | 6 Months Ended | |||||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
Ziggo N.V. [Member] | Ziggo N.V. [Member] | Sumitomo Common Stock [Member] | Canal Cyfrowy S.A. [Member] | Securities Not Subject to Re-Use Rights [Member] | Securities Subject to Re-Use Rights [Member] | |
USD ($) | EUR (€) | Ziggo N.V. [Member] | Ziggo N.V. [Member] | |||
arrangement | ||||||
Investment [Line Items] | ' | ' | ' | ' | ' | ' |
Number of common stock shares owned (in shares) | 57,000,738 | ' | 45,652,043 | ' | 33,900,000 | 23,100,000 |
Investment, share price (in dollar/euro per share) | $35.73 | € 26.40 | ' | ' | ' | ' |
Total investment | $2,036.50 | € 1,505 | ' | ' | ' | ' |
Share price (in dollar/euro per share) | $40.51 | € 29.94 | ' | ' | ' | ' |
Shares not pledged as collateral (in shares) | 4,743,738 | ' | ' | ' | ' | ' |
Number of arrangements | 2 | ' | ' | ' | ' | ' |
Percentage of total outstanding common stock shares owned | 28.50% | ' | 5.00% | 17.00% | ' | ' |
Proceeds from distribution | $78.40 | ' | ' | ' | ' | ' |
Derivative_Instruments_Narrati
Derivative Instruments (Narrative) (Details) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jul. 25, 2013 | Jul. 25, 2013 | Jul. 25, 2013 | Jul. 31, 2013 | Jul. 31, 2013 | Sep. 30, 2013 | |
In Millions, except Share data, unless otherwise specified | USD ($) | USD ($) | Ziggo N.V. [Member] | Ziggo N.V. [Member] | Ziggo N.V. [Member] | Derivative Financial Instruments, Liabilities [Member] | Counterparty Credit Risk [Member] | UPC Holding Cross-Currency Options [Member] | Ziggo Collar [Member] | Ziggo Collar [Member] | Ziggo Collar [Member] | Ziggo Collar [Member] | Ziggo Collar [Member] | Virgin Media Capped Call [Member] | |
Securities Subject to Re-Use Rights [Member] | Shares Borrowed as Hedge [Member] | USD ($) | USD ($) | Ziggo N.V. [Member] | Liberty Global Limited [Member] | Liberty Global Limited [Member] | Liberty Global Limited [Member] | Liberty Global Limited [Member] | |||||||
Put Options Purchased [Member] | USD ($) | EUR (€) | Put Options Purchased [Member] | Put Options Purchased [Member] | |||||||||||
USD ($) | EUR (€) | ||||||||||||||
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Derivative assets | $1,154.80 | $1,258.40 | ' | ' | ' | ' | $566.90 | ' | ' | ' | ' | ' | ' | ' | |
Derivative exchange rate | ' | ' | ' | ' | ' | ' | ' | 0.7354 | ' | ' | ' | ' | ' | ' | |
Percentage of notional amount settled | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 93.80% | [1] |
Proceeds from settlement | ' | ' | ' | ' | ' | 534.8 | ' | ' | ' | ' | ' | ' | ' | ' | |
Net option contract premium paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 51 | 38.6 | ' | |
Option purchased (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 24,957,000 | ' | ' | ' | ' | ' | |
Borrowed funds | ' | ' | ' | ' | ' | ' | ' | ' | ' | 816.4 | 617.1 | ' | ' | ' | |
Non-cash borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | $643.50 | € 486.40 | ' | ' | ' | |
Discount rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 0.00% | ' | ' | ' | |
Implied Yield | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.45% | 0.45% | ' | ' | ' | |
Number of common stock shares owned (in shares) | ' | ' | 57,000,738 | 23,100,000 | 18,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
[1] | Amount includes (i) $566.8 million representing the estimated fair value of the Virgin Media Capped Calls on June 7, 2013 and (ii) $51.0 million representing premiums paid associated with the Ziggo Collar. |
Derivative_Instruments_Fair_Va
Derivative Instruments (Fair Values of Derivative Assets and Liabilities) (Schedule and Footnotes) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |||
Assets: | ' | ' | ' | ' | ' | |||
Current | $186.40 | [1] | ' | $186.40 | [1] | ' | $193.30 | [1] |
Long-term | 968.4 | [1] | ' | 968.4 | [1] | ' | 1,065.10 | [1] |
Total | 1,154.80 | ' | 1,154.80 | ' | 1,258.40 | |||
Liabilities: | ' | ' | ' | ' | ' | |||
Current | 675 | [1] | ' | 675 | [1] | ' | 569.9 | [1] |
Long-term | 1,979.50 | [1] | ' | 1,979.50 | [1] | ' | 2,160.60 | [1] |
Total | 2,654.50 | ' | 2,654.50 | ' | 2,730.50 | |||
Cross-currency and interest rate derivative contracts | ' | ' | ' | ' | ' | |||
Assets: | ' | ' | ' | ' | ' | |||
Current | 183.9 | [1],[2] | ' | 183.9 | [1],[2] | ' | 191.3 | [1],[2] |
Long-term | 510 | [1],[2] | ' | 510 | [1],[2] | ' | 467.1 | [1],[2] |
Total | 693.9 | ' | 693.9 | ' | 658.4 | [2] | ||
Liabilities: | ' | ' | ' | ' | ' | |||
Current | 649.1 | [1],[2] | ' | 649.1 | [1],[2] | ' | 543.2 | [1],[2] |
Long-term | 1,958.20 | [1],[2] | ' | 1,958.20 | [1],[2] | ' | 2,156.30 | [1],[2] |
Total | 2,607.30 | [2] | ' | 2,607.30 | [2] | ' | 2,699.50 | [2] |
Valuation adjustment in asset cross currency and interest rate derivative contracts | 17.7 | ' | 17.7 | ' | 17.2 | |||
Valuation adjustment in liability cross currency and interest rate derivative contracts | 201.8 | ' | 201.8 | ' | 156.5 | |||
Gain (loss) on change in credit risk valuation included in realized and unrealized gains (losses) on derivative instruments, net | 85.1 | -29.9 | 39.6 | -78.2 | ' | |||
Equity-related derivative instruments | ' | ' | ' | ' | ' | |||
Assets: | ' | ' | ' | ' | ' | |||
Current | 0 | [1],[3] | ' | 0 | [1],[3] | ' | 0 | [1],[3] |
Long-term | 454.8 | [1],[3] | ' | 454.8 | [1],[3] | ' | 594.6 | [1],[3] |
Total | 454.8 | [3] | ' | 454.8 | [3] | ' | 594.6 | [3] |
Liabilities: | ' | ' | ' | ' | ' | |||
Current | 15.9 | [1],[3] | ' | 15.9 | [1],[3] | ' | 21.6 | [1],[3] |
Long-term | 14.6 | [1],[3] | ' | 14.6 | [1],[3] | ' | 0 | [1],[3] |
Total | 30.5 | [3] | ' | 30.5 | [3] | ' | 21.6 | [3] |
Foreign currency forward contracts | ' | ' | ' | ' | ' | |||
Assets: | ' | ' | ' | ' | ' | |||
Current | 0.9 | [1] | ' | 0.9 | [1] | ' | 0.7 | [1] |
Long-term | 0.4 | [1] | ' | 0.4 | [1] | ' | 0.4 | [1] |
Total | 1.3 | ' | 1.3 | ' | 1.1 | |||
Liabilities: | ' | ' | ' | ' | ' | |||
Current | 8.2 | [1] | ' | 8.2 | [1] | ' | 4.5 | [1] |
Long-term | 5.4 | [1] | ' | 5.4 | [1] | ' | 3.6 | [1] |
Total | 13.6 | ' | 13.6 | ' | 8.1 | |||
Other [Member] | ' | ' | ' | ' | ' | |||
Assets: | ' | ' | ' | ' | ' | |||
Current | 1.6 | [1] | ' | 1.6 | [1] | ' | 1.3 | [1] |
Long-term | 3.2 | [1] | ' | 3.2 | [1] | ' | 3 | [1] |
Total | 4.8 | ' | 4.8 | ' | 4.3 | |||
Liabilities: | ' | ' | ' | ' | ' | |||
Current | 1.8 | [1] | ' | 1.8 | [1] | ' | 0.6 | [1] |
Long-term | 1.3 | [1] | ' | 1.3 | [1] | ' | 0.7 | [1] |
Total | $3.10 | ' | $3.10 | ' | $1.30 | |||
[1] | Our current derivative assets are included in other current assets and our long-term derivative assets and liabilities are included in other assets, net, and other long-term liabilities, respectively, in our condensed consolidated balance sheets. | |||||||
[2] | We consider credit risk in our fair value assessments. As of SeptemberB 30, 2013 and DecemberB 31, 2012, (i) the fair values of our cross-currency and interest rate derivative contracts that represented assets have been reduced by credit risk valuation adjustments aggregating $17.7 million and $17.2 million, respectively, and (ii) the fair values of our cross-currency and interest rate derivative contracts that represented liabilities have been reduced by credit risk valuation adjustments aggregating $201.8B million and $156.5B million, respectively. The adjustments to our derivative assets relate to the risk associated with counterparty nonperformance and the adjustments to our derivative liabilities relate to credit risk associated with our own nonperformance. In all cases, the adjustments take into account offsetting liability or asset positions within a given contract. Our determination of credit risk valuation adjustments generally is based on our and our counterpartiesb credit risks, as observed in the credit default swap market and market quotations for certain of our subsidiariesb debt instruments, as applicable. The changes in the credit risk valuation adjustments associated with our cross-currency and interest rate derivative contracts resulted in net gains of $85.1 million and $39.6B million during the three and nine months ended September 30, 2013, respectively, and net losses of $29.9 million and $78.2 million during the three and nine months ended September 30, 2012, respectively. These amounts are included in realized and unrealized losses on derivative instruments, net, in our condensed consolidated statements of operations. For further information concerning our fair value measurements, see note 5. | |||||||
[3] | The fair value of our equity-related derivative instruments relates to (i) the Virgin Media Capped Calls, as defined and described below, (ii) the Ziggo Collar, and (iii) the share collar (the Sumitomo Collar) with respect to the Sumitomo shares held by our company. The fair values of the Ziggo Collar and the Sumitomo Collar do not include credit risk valuation adjustments as we have assumed that any losses incurred by our company in the event of nonperformance by the respective counterparty would be, subject to relevant insolvency laws, fully offset against amounts we owe to such counterparty pursuant to the secured borrowing arrangements of the Ziggo Collar and Sumitomo Collar. |
Derivative_Instruments_Realize
Derivative Instruments (Realized and Unrealized Gains (Losses) on Derivatives) (Schedule and Footnotes) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Continuing Operations [Member] | ' | ' | ' | ' |
Continuing operations: | ' | ' | ' | ' |
Gain (loss) on derivative instruments, net | ($876.30) | ($237.20) | ($685.20) | ($613.90) |
Continuing Operations [Member] | Cross-currency and interest rate derivative contracts | ' | ' | ' | ' |
Continuing operations: | ' | ' | ' | ' |
Gain (loss) on derivative instruments, net | -727.2 | -281.7 | -384.2 | -591.3 |
Continuing Operations [Member] | Foreign currency forward contracts | ' | ' | ' | ' |
Continuing operations: | ' | ' | ' | ' |
Gain (loss) on derivative instruments, net | -55.3 | -2.8 | -56.4 | -12.5 |
Continuing Operations [Member] | Equity-related derivative instruments | ' | ' | ' | ' |
Continuing operations: | ' | ' | ' | ' |
Gain (loss) on derivative instruments, net | ' | 47.9 | ' | -11.7 |
Continuing Operations [Member] | Other | ' | ' | ' | ' |
Continuing operations: | ' | ' | ' | ' |
Gain (loss) on derivative instruments, net | 0.4 | -0.6 | -0.8 | 1.6 |
Discontinued Operations [Member] | ' | ' | ' | ' |
Continuing operations: | ' | ' | ' | ' |
Gain (loss) on derivative instruments, net | 0 | 0 | 0 | 4.6 |
Derivative Financial Instruments, Liabilities [Member] | Continuing Operations [Member] | Equity-related derivative instruments | ' | ' | ' | ' |
Continuing operations: | ' | ' | ' | ' |
Gain (loss) on derivative instruments, net | -94.2 | ' | -243.8 | ' |
Sumitomo Collar [Member] | Continuing Operations [Member] | Equity-related derivative instruments | ' | ' | ' | ' |
Continuing operations: | ' | ' | ' | ' |
Gain (loss) on derivative instruments, net | ' | 47.9 | ' | -11.7 |
Sumitomo Collar [Member] | Derivative Financial Instruments, Liabilities [Member] | Continuing Operations [Member] | Equity-related derivative instruments | ' | ' | ' | ' |
Continuing operations: | ' | ' | ' | ' |
Gain (loss) on derivative instruments, net | -34.3 | ' | -174.3 | ' |
Ziggo Collar [Member] | Continuing Operations [Member] | Equity-related derivative instruments | ' | ' | ' | ' |
Continuing operations: | ' | ' | ' | ' |
Gain (loss) on derivative instruments, net | ' | 0 | ' | 0 |
Ziggo Collar [Member] | Derivative Financial Instruments, Liabilities [Member] | Continuing Operations [Member] | Equity-related derivative instruments | ' | ' | ' | ' |
Continuing operations: | ' | ' | ' | ' |
Gain (loss) on derivative instruments, net | -65.7 | ' | -65.7 | ' |
Other Equity Contract [Member] | Continuing Operations [Member] | Equity-related derivative instruments | ' | ' | ' | ' |
Continuing operations: | ' | ' | ' | ' |
Gain (loss) on derivative instruments, net | ' | 0 | ' | 0 |
Other Equity Contract [Member] | Derivative Financial Instruments, Liabilities [Member] | Continuing Operations [Member] | Equity-related derivative instruments | ' | ' | ' | ' |
Continuing operations: | ' | ' | ' | ' |
Gain (loss) on derivative instruments, net | $5.80 | ' | ($3.80) | ' |
Derivative_Instruments_Net_Cas
Derivative Instruments (Net Cash Received (Paid) Related to Derivatives) (Schedule) (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Continuing Operations [Member] | ' | ' |
Continuing operations: | ' | ' |
Operating activities | ($393.40) | ($452.80) |
Investing activities | -66.6 | 23.7 |
Financing activities | 537 | -113.1 |
Total b continuing operations | 77 | -542.2 |
Discontinued Operations [Member] | ' | ' |
Continuing operations: | ' | ' |
Discontinued operation | $0 | ($6.60) |
Derivative_Instruments_Crosscu
Derivative Instruments (Cross-currency Swaps) (Schedule) (Details) (Currency Swap [Member]) | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Virgin Media Investment Holdings Limited [Member] | Virgin Media Investment Holdings Limited [Member] | Virgin Media Investment Holdings Limited [Member] | Virgin Media Investment Holdings Limited [Member] | Virgin Media Investment Holdings Limited [Member] | Virgin Media Investment Holdings Limited [Member] | Virgin Media Investment Holdings Limited [Member] | UPC Holding | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | Unitymedia Hessen [Member] | Unitymedia Hessen [Member] | Virgin Media Investment Holdings Limited [Member] | Virgin Media Investment Holdings Limited [Member] | Virgin Media Investment Holdings Limited [Member] | Virgin Media Investment Holdings Limited [Member] | Virgin Media Investment Holdings Limited [Member] | Virgin Media Investment Holdings Limited [Member] | Virgin Media Investment Holdings Limited [Member] | UPC Holding | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | Unitymedia Hessen [Member] | Unitymedia Hessen [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 2022 1400.0 USD 873.6 GBP [Member] | June 2020 1384.6 USD 901.4 GBP [Member] | October 2020 1370.4 USD 881.6 GBP [Member] | November 2016 55.0 USD 27.7 GBP [Member] | January 2018 1000.0 USD 615.7 GBP [Member] | October 2019 500.0 USD 302.3 GBP [Member] | April 2019 291.5 USD 186.2 GBP [Member} | April 2016 400Usd 441.8Chf [Member] | November 2019 500.0 USD 362.9 EUR [Member] | January 2015 - July 2021 312.0 USD 240.0 EUR [Member] | October 2020 300.0 USD 219.1 EUR [Member] | January 2017 - July 2021 262.1 USD 194.1 EUR [Member] | October 2017 200.0 USD 145.7 EUR [Member] | January 2020 197.5 USD 150.5 EUR [Member] | September 2014 - July 2021 128.0 USD 97.2 EUR [Member] | December 2016 340.0 USD [Member] | January 2017 - July 2021 300.0 USD 278.3 CHF [Member] | January 2015 - July 2021 200.0 USD 186.0 CHF [Member] | December 2014 171.5 USD [Member] | December 2014 898.4 EUR 1466.0 CHF [Member] | January 2015 - September 2022 383.8 EUR 477.0 CHF [Member] | December 2014 to December 2016 360.4Euro 589Chf [Member] | January 2020 175Euro 258.6Chf [Member] | July 2020 107.4 EUR 129.0 CHF [Member] | January 2017 75.0 EUR 110.9 CHF [Member] | July 2015 123.8 EUR 86,500.0 CLP [Member] | December 2015 69.1 EUR 53,000.0 CLP [Member] | December 2014 305.8 EUR 8818.7 CZK [Member] | January 2015 60.0 EUR 1703.1 CZK [Member] | January 2015 to January 2017 60.0 EUR 1703.1 CZK [Member] | July 2017 39.6 EUR 1,000.0 CZK [Member] | January 2015 260.0 EUR 75570.0 HUF [Member] | January 2015 to January 2017 260.0 EUR 75570.0 HUF [Member] | December 2016 150Euro 43367.5Huf [Member] | July 2018 78Euro 19500Huf [Member] | January 2015 245.0 EUR 1000.6 PLN [Member] | January 2015 - January 2017 245.0 EUR 1000.6 PLN [Member] | September 2016 200.0 EUR 892.7 PLN [Member] | December 2014 155.5 EUR 605.0 PLN [Member] | July 2017 82Euro 318Pln [Member] | January 2021 1000.0 USD 688.2 EUR [Member] | March 2019 459.3 USD 326.5 EUR [Member] | February 2022 1400.0 USD 873.6 GBP [Member] | June 2020 1384.6 USD 901.4 GBP [Member] | October 2020 1370.4 USD 881.6 GBP [Member] | November 2016 55.0 USD 27.7 GBP [Member] | January 2018 1000.0 USD 615.7 GBP [Member] | October 2019 500.0 USD 302.3 GBP [Member] | April 2019 291.5 USD 186.2 GBP [Member} | April 2016 400Usd 441.8Chf [Member] | November 2019 500.0 USD 362.9 EUR [Member] | January 2015 - July 2021 312.0 USD 240.0 EUR [Member] | October 2020 300.0 USD 219.1 EUR [Member] | January 2017 - July 2021 262.1 USD 194.1 EUR [Member] | October 2017 200.0 USD 145.7 EUR [Member] | January 2020 197.5 USD 150.5 EUR [Member] | September 2014 - July 2021 128.0 USD 97.2 EUR [Member] | December 2016 340.0 USD [Member] | January 2017 - July 2021 300.0 USD 278.3 CHF [Member] | January 2015 - July 2021 200.0 USD 186.0 CHF [Member] | December 2014 171.5 USD [Member] | December 2014 898.4 EUR 1466.0 CHF [Member] | January 2015 - September 2022 383.8 EUR 477.0 CHF [Member] | December 2014 to December 2016 360.4Euro 589Chf [Member] | January 2020 175Euro 258.6Chf [Member] | July 2020 107.4 EUR 129.0 CHF [Member] | January 2017 75.0 EUR 110.9 CHF [Member] | July 2015 123.8 EUR 86,500.0 CLP [Member] | December 2015 69.1 EUR 53,000.0 CLP [Member] | December 2014 305.8 EUR 8818.7 CZK [Member] | January 2015 60.0 EUR 1703.1 CZK [Member] | January 2015 to January 2017 60.0 EUR 1703.1 CZK [Member] | July 2017 39.6 EUR 1,000.0 CZK [Member] | January 2015 260.0 EUR 75570.0 HUF [Member] | January 2015 to January 2017 260.0 EUR 75570.0 HUF [Member] | December 2016 150Euro 43367.5Huf [Member] | July 2018 78Euro 19500Huf [Member] | January 2015 245.0 EUR 1000.6 PLN [Member] | January 2015 - January 2017 245.0 EUR 1000.6 PLN [Member] | September 2016 200.0 EUR 892.7 PLN [Member] | December 2014 155.5 EUR 605.0 PLN [Member] | July 2017 82Euro 318Pln [Member] | January 2021 1000.0 USD 688.2 EUR [Member] | March 2019 459.3 USD 326.5 EUR [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | USD ($) | USD ($) | GBP (£) | GBP (£) | GBP (£) | GBP (£) | GBP (£) | GBP (£) | GBP (£) | CHF | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | CHF | CHF | CHF | CHF | CHF | CHF | CHF | CHF | CHF | CHF | CLP | CLP | CZK | CZK | CZK | CZK | HUF | HUF | HUF | HUF | PLN | PLN | PLN | PLN | PLN | EUR (€) | EUR (€) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative, Notional Amount | $1,400 | [1] | $1,384.60 | [1] | $1,370.40 | [1] | $55 | [1],[2] | $1,000 | [1] | $500 | [1] | $291.50 | [1] | $400 | [1],[2] | $500 | [1] | $312 | [1] | $300 | [1] | $262.10 | [1] | $200 | [1] | $197.50 | [1] | $128 | [1] | $340 | [1] | $300 | [1] | $200 | [1] | $171.50 | [1] | € 898.40 | [1] | € 383.80 | [1] | € 360.40 | [1] | € 175 | [1] | € 107.40 | [1] | € 75 | [1] | € 123.80 | [1] | € 69.10 | [1] | € 305.80 | [1] | € 60 | [1] | € 60 | [1] | € 39.60 | [1] | € 260 | [1] | € 260 | [1] | € 150 | [1] | € 78 | [1] | € 245 | [1] | € 245 | [1] | € 200 | [1] | € 155.50 | [1] | € 82 | [1] | $1,000 | [1] | $459.30 | [1] | £ 873.6 | [1] | £ 901.4 | [1] | £ 881.6 | [1] | £ 27.7 | [1],[2] | £ 615.7 | [1] | £ 302.3 | [1] | £ 186.2 | [1] | 441.8 | [1],[2] | € 362.90 | [1] | € 240 | [1] | € 219.10 | [1] | € 194.10 | [1] | € 145.70 | [1] | € 150.50 | [1] | € 97.20 | [1] | 370.9 | [1] | 278.3 | [1] | 186 | [1] | 187.1 | [1] | 1,466 | [1] | 477 | [1] | 589 | [1] | 258.6 | [1] | 129 | [1] | 110.9 | [1] | 86,500 | [1] | 53,000 | [1] | 8,818.70 | [1] | 1,703.10 | [1] | 1,703.10 | [1] | 1,000 | [1] | 75,570 | [1] | 75,570 | [1] | 43,367.50 | [1] | 19,500 | [1] | 1,000.60 | [1] | 1,000.60 | [1] | 892.7 | [1] | 605 | [1] | 318 | [1] | € 688.20 | [1] | € 326.50 | [1] |
Derivative Interest Rate | 5.01% | [1] | ' | ' | 6.50% | [1],[2] | 6.50% | [1] | 8.38% | [1] | 5.38% | [1] | 9.88% | [1],[2] | 7.25% | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.63% | [1] | ' | 7.63% | [1] | 2.50% | [1] | 3.50% | [1] | 5.48% | [1] | 5.50% | [1] | 5.50% | [1] | 3.00% | [1] | 5.50% | [1] | 5.50% | [1] | 5.50% | [1] | 5.50% | [1] | 5.50% | [1] | 5.50% | [1] | 6.00% | [1] | 5.50% | [1] | 3.00% | [1] | 5.50% | [1] | 7.50% | [1] | 5.35% | [1] | ' | ' | 7.03% | [1],[2] | 7.02% | [1] | 9.02% | [1] | 5.49% | [1] | 9.87% | [1],[2] | 7.74% | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.76% | [1] | ' | 6.98% | [1] | 5.84% | [1] | 5.75% | [1] | 5.47% | [1] | 6.05% | [1] | 6.99% | [1] | 3.75% | [1] | 9.40% | [1] | 10.56% | [1] | 9.20% | [1] | 9.15% | [1] | 7.60% | [1] | 9.03% | [1] | 8.19% | [1] | 7.33% | [1] | 5.60% | [1] | 5.58% | [1] | 7.98% | [1] | ||||||||||||||||||||||||||||||||
Derivative Interest Rate Referenced | ' | '6B mo.B LIBOR | [1] | '6B mo.B LIBOR | [1] | ' | ' | ' | ' | ' | ' | '6B mo.B LIBOR | [1] | '6B mo.B LIBOR | [1] | '6B mo.B LIBOR | [1] | '6B mo.B LIBOR | [1] | '6B mo.B LIBOR | [1] | '6B mo.B LIBOR | [1] | '6B mo.B LIBOR | [1] | '6B mo.B LIBOR | [1] | '6B mo.B LIBOR | [1] | '6B mo.B LIBOR | [1] | '6B mo.B EURIBOR | [1] | '6B mo.B EURIBOR | [1] | '6B mo.B EURIBOR | [1] | ' | '6B mo.B EURIBOR | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 mo. GBP LIBOR | [1] | '6 mo. GBP LIBOR | [1] | ' | ' | ' | ' | ' | ' | '6B mo.B EURIBOR | [1] | '6B mo.B EURIBOR | [1] | '6B mo.B EURIBOR | [1] | '6B mo.B EURIBOR | [1] | '6B mo.B EURIBOR | [1] | '6B mo.B EURIBOR | [1] | '6B mo.B CHFB LIBOR | [1] | '6B mo.B CHFB LIBOR | [1] | '6B mo.B CHFB LIBOR | [1] | '6B mo.B CHFB LIBOR | [1] | '6B mo.B CHFB LIBOR | [1] | '6B mo.B CHFB LIBOR | [1] | '6B mo.B CHFB LIBOR | [1] | ' | '6B mo.B CHFB LIBOR | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Interest Rate Above Referenced Rate | ' | 2.75% | [1] | 2.75% | [1] | ' | ' | ' | ' | ' | ' | 2.50% | [1] | 3.00% | [1] | 2.50% | [1] | 3.50% | [1] | 4.92% | [1] | 2.50% | [1] | 3.50% | [1] | 2.50% | [1] | 2.50% | [1] | 2.75% | [1] | 1.68% | [1] | 2.00% | [1] | 3.75% | [1] | ' | 3.00% | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.18% | [1] | 3.10% | [1] | ' | ' | ' | ' | ' | ' | 2.87% | [1] | 3.04% | [1] | 2.51% | [1] | 3.33% | [1] | 4.91% | [1] | 2.90% | [1] | 4.01% | [1] | 2.46% | [1] | 2.55% | [1] | 2.95% | [1] | 1.94% | [1] | 2.22% | [1] | 3.94% | [1] | ' | 3.28% | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
[1] | For each subsidiary, the notional amount of multiple derivative instruments that mature within the same calendar month are shown in the aggregate and interest rates are presented on a weighted average basis. For derivative instruments that were in effect as of SeptemberB 30, 2013, we present a single date that represents the applicable final maturity date. For derivative instruments that become effective subsequent to SeptemberB 30, 2013, we present a range of dates that represents the period covered by the applicable derivative instruments. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Unlike the other cross-currency swaps presented in this table, the identified cross-currency swaps do not involve the exchange of notional amounts at the inception and maturity of the instruments. Accordingly, the only cash flows associated with these instruments are interest payments and receipts. |
Derivative_Instruments_Crosscu1
Derivative Instruments (Cross-currency Interest Rate Swaps) (Schedule) (Details) (Cross-currency and interest rate derivative contracts) | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | ||||||||||||||||||||||||
In Millions, unless otherwise specified | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | ||||||||||||||||||||||||
January 2021 500.0 USD 308.9 GBP [Member] | July 2018 525.0 USD 396.3 EUR [Member] | September 2014 to January 2020 327.5 USD 249.5 EUR [Member] | December 2014 300.0 USD [Member] | December 2014 to July 2018 300 USD 226.5 EUR [Member] | December 2016 244.1Usd 179.3Euro [Member] | November 2019 250Usd 226.8Chf [Member] | January 2020 225.0 USD 206.3 CHF [Member] | December 2014 340Usd 181322Clp [Member] | December 2016 201.5 USD 489.3 RON [Member] | December 2014 134.2 USD 107800.0 CLP [Member] | September 2014 446.5 USD 247137.8 CLP [Member] | January 2021 500.0 USD 308.9 GBP [Member] | July 2018 525.0 USD 396.3 EUR [Member] | September 2014 to January 2020 327.5 USD 249.5 EUR [Member] | December 2014 300.0 USD [Member] | December 2014 to July 2018 300 USD 226.5 EUR [Member] | December 2016 244.1Usd 179.3Euro [Member] | November 2019 250Usd 226.8Chf [Member] | January 2020 225.0 USD 206.3 CHF [Member] | December 2014 340Usd 181322Clp [Member] | December 2016 201.5 USD 489.3 RON [Member] | December 2014 134.2 USD 107800.0 CLP [Member] | September 2014 446.5 USD 247137.8 CLP [Member] | |||||||||||||||||||||||||
Virgin Media Investment Holdings Limited [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | VTR [Member] | Virgin Media Investment Holdings Limited [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | VTR [Member] | |||||||||||||||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | USD ($) | GBP (£) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | CHF | CHF | CLP | RON | CLP | CLP | |||||||||||||||||||||||||
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Derivative, Notional Amount | $500 | [1] | $525 | [1] | $327.50 | [1] | $300 | [1] | $300 | [1] | $296.60 | [1] | $250 | [1] | $225 | [1] | $340 | [1] | $201.50 | [1] | € 134.20 | [1] | $441.80 | [1] | £ 308.9 | [1] | € 396.30 | [1] | € 249.50 | [1] | € 226.50 | [1] | € 226.50 | [1] | € 219.80 | [1] | 226.8 | [1] | 206.3 | [1] | 181,322 | [1] | 489.3 | [1] | 107,800 | [1] | 244,508.60 | [1] |
Derivative Interest Rate Referenced | ' | '6B mo.B LIBOR | [1] | '6B mo.B LIBOR | [1] | '6B mo.B LIBOR | [1] | '6B mo.B LIBOR | [1] | '6B mo.B LIBOR | [1] | ' | '6B mo.B LIBOR | [1] | '6B mo.B LIBOR | [1] | '6B mo.B LIBOR | [1] | '6B mo.B EURIBOR | [1] | '6 mo. LIBOR | [1] | '6 mo. GBP LIBOR | [1] | ' | ' | ' | ' | ' | '6 mo. CHF LIBOR | [1] | ' | ' | ' | ' | ' | ||||||||||||
Derivative Interest Rate Above Referenced Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.94% | [1] | 1.99% | [1] | 4.92% | [1] | 1.75% | [1] | 2.58% | [1] | 3.50% | [1] | 5.01% | [1] | 4.81% | [1] | 1.75% | [1] | 3.50% | [1] | 2.00% | [1] | 3.00% | [1] | ||||||||||||
Derivative Interest Rate | 5.25% | [1] | ' | ' | ' | ' | ' | 7.25% | [1] | ' | ' | ' | ' | ' | ' | 6.25% | [1] | 7.52% | [1] | 5.78% | [1] | 6.80% | [1] | 6.75% | [1] | ' | 5.44% | [1] | 8.76% | [1] | 14.01% | [1] | 10.00% | [1] | 11.16% | [1] | ||||||||||||
[1] | For each subsidiary, the notional amount of multiple derivative instruments that mature within the same calendar month are shown in the aggregate and interest rates are presented on a weighted average basis. For derivative instruments that were in effect as of SeptemberB 30, 2013, we present a single date that represents the applicable final maturity date. For derivative instruments that become effective subsequent to SeptemberB 30, 2013, we present a range of dates that represents the period covered by the applicable derivative instruments. |
Derivative_Instruments_Interes
Derivative Instruments (Interest Rate Swaps) (Schedule) (Details) (Interest Rate Swap [Member]) | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | October 2018 2155.0 GBP [Member] | January 2021 650.0 GBP [Member] | January 2021 650.0 GBP 3.87% [Member] | December 2015 600.0 GBP [Member] | April 2018 300.0 GBP [Member] | July 2020 1000Usd 6mo.Libor plus 3.03Percent [Member] | January 2022 750.0 USD [Member] | January 2014 2750.0 EUR [Member] | December 2014 1471.5 EUR 3.55% [Member] | July 2020 750.0 EUR [Member] | January 2015 - January 2021 750.0 EUR [Member] | January 2015 to December 2016 500Euro 4.32Percent [Member] | July 2014 337Euro 3.94Percent [Member] | January 2015 - January 2023 290.0 EUR [Member] | December 2015 263.3Euro 3.97Percent [Member] | January 2023 210.0 EUR [Member] | January 2014 185Euro 4.04Percent [Member] | January 2015 to January 2018 175Euro 3.74Percent [Member] | July 2020 171.3Euro 4.32Percent [Member] | January 2015 to July 2020 171.3Euro 3.95Percent [Member] | January 2015 - November 2021 107.0 EUR [Member] | December 2013 90.5 EUR 0.90 Percent [Member] | December 2014 2380.0 CHF 2.81% [Member] | January 2015 - January 2022 711.5 CHF [Member] | January 2015 b January 2021 500.0 CHF 1.65% [Member] | January 2015 - January 2021 400.0 CHF [Member] | January 2015 to December 2016 370.9Chf 3.82Percent [Member] | January 2015 to November 2019 226.8 CHF 6.88 Percent [Member] | July 2017 to July 2019 600.0 EUR [Member] | August 2015 350Euro 3.54Percent [Member] | August 2015 to December 2018 350.0 EUR [Member] | December 2015 to June 2021 EUR250.0 3.49% [Member] | July 2019 200.0 EUR [Member] | July 2017 150.0 EUR [Member] | July 2017 to December 2018 70.0 EUR [Member] | June 2021 55.0 EUR [Member] | June 2015 50Euro 3.55Percent [Member] | December 2017 50Euro 3.52Percent [Member] | December 2015 to July 2019 50.0 EUR [Member] | December 2017 to July 2019 50.0 EUR [Member] | July 2017 to June 2021 EUR 50 3.00% [Member] | August 2015 to June 2021 EUR 45.0 3.20% [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due From Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | Due To Counterparty [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Virgin Media Investment Holdings Limited [Member] | Virgin Media Investment Holdings Limited [Member] | Virgin Media Investment Holdings Limited [Member] | Virgin Media Investment Holdings Limited [Member] | Virgin Media Investment Holdings Limited [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | October 2018 2155.0 GBP [Member] | January 2021 650.0 GBP [Member] | January 2021 650.0 GBP 3.87% [Member] | December 2015 600.0 GBP [Member] | April 2018 300.0 GBP [Member] | July 2020 1000Usd 6mo.Libor plus 3.03Percent [Member] | January 2022 750.0 USD [Member] | January 2014 2750.0 EUR [Member] | December 2014 1471.5 EUR 3.55% [Member] | July 2020 750.0 EUR [Member] | January 2015 - January 2021 750.0 EUR [Member] | January 2015 to December 2016 500Euro 4.32Percent [Member] | July 2014 337Euro 3.94Percent [Member] | January 2015 - January 2023 290.0 EUR [Member] | December 2015 263.3Euro 3.97Percent [Member] | January 2023 210.0 EUR [Member] | January 2014 185Euro 4.04Percent [Member] | January 2015 to January 2018 175Euro 3.74Percent [Member] | July 2020 171.3Euro 4.32Percent [Member] | January 2015 to July 2020 171.3Euro 3.95Percent [Member] | January 2015 - November 2021 107.0 EUR [Member] | December 2013 90.5 EUR 0.90 Percent [Member] | December 2014 2380.0 CHF 2.81% [Member] | January 2015 - January 2022 711.5 CHF [Member] | January 2015 b January 2021 500.0 CHF 1.65% [Member] | January 2015 - January 2021 400.0 CHF [Member] | January 2015 to December 2016 370.9Chf 3.82Percent [Member] | January 2015 to November 2019 226.8 CHF 6.88 Percent [Member] | July 2017 to July 2019 600.0 EUR [Member] | August 2015 350Euro 3.54Percent [Member] | August 2015 to December 2018 350.0 EUR [Member] | December 2015 to June 2021 EUR250.0 3.49% [Member] | July 2019 200.0 EUR [Member] | July 2017 150.0 EUR [Member] | July 2017 to December 2018 70.0 EUR [Member] | June 2021 55.0 EUR [Member] | June 2015 50Euro 3.55Percent [Member] | December 2017 50Euro 3.52Percent [Member] | December 2015 to July 2019 50.0 EUR [Member] | December 2017 to July 2019 50.0 EUR [Member] | July 2017 to June 2021 EUR 50 3.00% [Member] | August 2015 to June 2021 EUR 45.0 3.20% [Member] | October 2018 2155.0 GBP [Member] | January 2021 650.0 GBP [Member] | January 2021 650.0 GBP 3.87% [Member] | December 2015 600.0 GBP [Member] | April 2018 300.0 GBP [Member] | July 2020 1000Usd 6mo.Libor plus 3.03Percent [Member] | January 2022 750.0 USD [Member] | January 2014 2750.0 EUR [Member] | December 2014 1471.5 EUR 3.55% [Member] | July 2020 750.0 EUR [Member] | January 2015 - January 2021 750.0 EUR [Member] | January 2015 to December 2016 500Euro 4.32Percent [Member] | July 2014 337Euro 3.94Percent [Member] | January 2015 - January 2023 290.0 EUR [Member] | December 2015 263.3Euro 3.97Percent [Member] | January 2023 210.0 EUR [Member] | January 2014 185Euro 4.04Percent [Member] | January 2015 to January 2018 175Euro 3.74Percent [Member] | July 2020 171.3Euro 4.32Percent [Member] | January 2015 to July 2020 171.3Euro 3.95Percent [Member] | January 2015 - November 2021 107.0 EUR [Member] | December 2013 90.5 EUR 0.90 Percent [Member] | December 2014 2380.0 CHF 2.81% [Member] | January 2015 - January 2022 711.5 CHF [Member] | January 2015 b January 2021 500.0 CHF 1.65% [Member] | January 2015 - January 2021 400.0 CHF [Member] | January 2015 to December 2016 370.9Chf 3.82Percent [Member] | January 2015 to November 2019 226.8 CHF 6.88 Percent [Member] | July 2017 to July 2019 600.0 EUR [Member] | August 2015 350Euro 3.54Percent [Member] | August 2015 to December 2018 350.0 EUR [Member] | December 2015 to June 2021 EUR250.0 3.49% [Member] | July 2019 200.0 EUR [Member] | July 2017 150.0 EUR [Member] | July 2017 to December 2018 70.0 EUR [Member] | June 2021 55.0 EUR [Member] | June 2015 50Euro 3.55Percent [Member] | December 2017 50Euro 3.52Percent [Member] | December 2015 to July 2019 50.0 EUR [Member] | December 2017 to July 2019 50.0 EUR [Member] | July 2017 to June 2021 EUR 50 3.00% [Member] | August 2015 to June 2021 EUR 45.0 3.20% [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GBP (£) | GBP (£) | GBP (£) | GBP (£) | GBP (£) | USD ($) | USD ($) | USD ($) | EUR (€) | EUR (€) | USD ($) | EUR (€) | EUR (€) | USD ($) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | USD ($) | CHF | CHF | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | Virgin Media Investment Holdings Limited [Member] | Virgin Media Investment Holdings Limited [Member] | Virgin Media Investment Holdings Limited [Member] | Virgin Media Investment Holdings Limited [Member] | Virgin Media Investment Holdings Limited [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Virgin Media Investment Holdings Limited [Member] | Virgin Media Investment Holdings Limited [Member] | Virgin Media Investment Holdings Limited [Member] | Virgin Media Investment Holdings Limited [Member] | Virgin Media Investment Holdings Limited [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | Telenet NV [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notional amount | £ 2,155 | [1] | £ 650 | [1] | £ 650 | [1] | £ 600 | [1] | £ 300 | [1] | $1,000 | [1] | $750 | [1] | $2,750 | [1] | € 1,471.50 | [1] | € 750 | [1] | $750 | [1] | € 500 | [1] | € 337 | [1] | $290 | [1] | € 263.30 | [1] | € 210 | [1] | € 185 | [1] | € 175 | [1] | € 171.30 | [1] | € 171.30 | [1] | $107 | [1] | € 90.50 | [1] | $2,380 | [1] | $711.50 | [1] | $500 | [1] | $400 | [1] | 370.9 | [1] | 226.8 | [1] | € 600 | [1] | € 350 | [1] | € 305 | [1] | € 250 | [1] | € 200 | [1] | € 150 | [1] | € 70 | [1] | € 55 | [1] | € 50 | [1] | € 50 | [1] | € 50 | [1] | € 50 | [1] | € 50 | [1] | € 45 | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.50% | [1] | ' | ' | ' | 6.63% | [1] | 6.88% | [1] | ' | ' | 6.38% | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.52% | [1] | ' | 3.87% | [1] | 2.86% | [1] | 1.37% | [1] | ' | ' | ' | 3.55% | [1] | ' | 2.57% | [1] | 4.32% | [1] | 3.94% | [1] | 2.79% | [1] | 3.97% | [1] | 2.88% | [1] | 4.03% | [1] | 3.74% | [1] | 4.32% | [1] | 3.95% | [1] | 2.89% | [1] | 0.90% | [1] | 2.81% | [1] | 1.89% | [1] | 1.65% | [1] | 2.51% | [1] | 3.82% | [1] | 6.88% | [1] | 3.29% | [1] | 3.54% | [1] | 2.46% | [1] | 3.49% | [1] | 3.55% | [1] | 3.55% | [1] | 3.00% | [1] | 2.29% | [1] | 3.55% | [1] | 3.52% | [1] | 3.40% | [1] | 2.99% | [1] | 3.00% | [1] | 3.20% | [1] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Interest Rate Referenced | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6B mo.B GBPB LIBOR | [1] | ' | '6B mo. GBP LIBOR | [1] | '6B mo.B GBPB LIBOR | [1] | '6B mo.B GBPB LIBOR | [1] | ' | ' | '1B mo.B EURIBOR | [1] | '6B mo.B EURIBOR | [1] | ' | '6B mo.B EURIBOR | [1] | '6B mo.B EURIBOR | [1] | '6B mo.B EURIBOR | [1] | '6B mo.B EURIBOR | [1] | '6B mo.B EURIBOR | [1] | '6B mo.B EURIBOR | [1] | '6B mo.B EURIBOR | [1] | '6B mo.B EURIBOR | [1] | '6B mo.B EURIBOR | [1] | '6B mo.B EURIBOR | [1] | '6B mo.B EURIBOR | [1] | '6B mo.B EURIBOR | [1] | '6B mo.B CHFB LIBOR | [1] | '6B mo.B CHFB LIBOR | [1] | '6B mo.B CHFB LIBOR | [1] | '6B mo.B CHFB LIBOR | [1] | '6B mo.B CHFB LIBOR | [1] | '6B mo. CHF LIBOR | [1] | '3B mo.B EURIBOR | [1] | '3B mo.B EURIBOR | [1] | '3B mo.B EURIBOR | [1] | '3B mo.B EURIBOR | [1] | '3B mo.B EURIBOR | [1] | '3B mo.B EURIBOR | [1] | '3B mo.B EURIBOR | [1] | '3B mo.B EURIBOR | [1] | '3B mo.B EURIBOR | [1] | '3B mo.B EURIBOR | [1] | '3B mo.B EURIBOR | [1] | '3B mo.B EURIBOR | [1] | '3B mo.B EURIBOR | [1] | '3B mo.B EURIBOR | [1] | ' | '6B mo. GBP LIBOR | [1] | ' | ' | ' | '6B mo. LIBOR | [1] | '6B mo. LIBOR | [1] | '6B mo.B EURIBOR | [1] | ' | '6B mo.B EURIBOR | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Interest Rate Above Referenced Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.84% | [1] | ' | ' | ' | ' | 3.76% | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.01% | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.84% | [1] | ' | ' | ' | 3.03% | [1] | 4.89% | [1] | 3.52% | [1] | ' | 3.16% | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[1] | For each subsidiary, the notional amount of multiple derivative instruments that mature within the same calendar month are shown in the aggregate and interest rates are presented on a weighted average basis. For derivative instruments that were in effect as of SeptemberB 30, 2013, we present a single date that represents the applicable final maturity date. For derivative instruments that become effective subsequent to SeptemberB 30, 2013, we present a range of dates that represents the period covered by the applicable derivative instruments. |
Derivative_Instruments_Interes1
Derivative Instruments (Interest Rate Caps) (Schedule) (Details) (EUR €) | Sep. 30, 2013 | |
In Millions, unless otherwise specified | ||
January 2015 b January 2020 735.0 EUR 7.00 Percent [Member] | Interest Rate Cap [Member] | LGE Financing [Member] | ' | |
Derivative [Line Items] | ' | |
Notional amount | € 735 | [1],[2] |
Maximum rate | 7.00% | [1],[2] |
June 2015 to June 2017 50Euro 4.5Percent [Member] | Interest Rate Cap [Member] | Telenet International [Member] | ' | |
Derivative [Line Items] | ' | |
Notional amount | 50 | [1],[2] |
Maximum rate | 4.50% | [1],[2] |
December 2017 2.1 EUR 6.5 Percent [Member] | Interest Rate Cap [Member] | Telenet NV [Member] | ' | |
Derivative [Line Items] | ' | |
Notional amount | 1.7 | [1],[2] |
Maximum rate | 6.50% | [1],[2] |
December 2017 2.1 EUR 5.50 Percent [Member] | Interest Rate Cap [Member] | Telenet NV [Member] | ' | |
Derivative [Line Items] | ' | |
Notional amount | 1.7 | [1],[2] |
Maximum rate | 5.50% | [1],[2] |
January 2015 to January 2020 735.0 EUR 7.00 Percent [Member] | Interest Rate Cap Sold [Member] | UPC Broadband Holding [Member] | ' | |
Derivative [Line Items] | ' | |
Notional amount | € 735 | [2],[3] |
Maximum rate | 7.00% | [2],[3] |
[1] | Our purchased interest rate caps entitle us to receive payments from the counterparty when EURIBOR exceeds the EURIBOR cap rate. | |
[2] | For each subsidiary, the notional amount of multiple derivative instruments that mature within the same calendar month are shown in the aggregate. For derivative instruments that were in effect as of SeptemberB 30, 2013, we present a single date that represents the applicable final maturity date. For derivative instruments that become effective subsequent to SeptemberB 30, 2013, we present a range of dates that represents the period covered by the applicable derivative instruments. | |
[3] | Our sold interest rate cap requires that we make payments to the counterparty when EURIBOR exceeds the EURIBOR cap rate. |
Derivative_Instruments_Interes2
Derivative Instruments (Interest Rate Collars) (Schedule) (Details) (Interest Rate Collar [Member], EUR €) | Sep. 30, 2013 | |
In Millions, unless otherwise specified | ||
January 2020 1,135.0 EUR [Member] | UPC Broadband Holding [Member] | ' | |
Derivative [Line Items] | ' | |
Notional amount | € 1,135 | [1] |
Minimum rate | 1.00% | [1],[2] |
Maximum rate | 3.54% | [1],[3] |
July 2017 950.0 EUR [Member] | Telenet International [Member] | ' | |
Derivative [Line Items] | ' | |
Notional amount | € 950 | [1] |
Minimum rate | 2.00% | [1],[2] |
Maximum rate | 4.00% | [1],[3] |
[1] | For each subsidiary, the notional amount of multiple derivative instruments that mature within the same calendar month are shown in the aggregate. For derivative instruments that were in effect as of SeptemberB 30, 2013, we present a single date that represents the applicable final maturity date. For derivative instruments that become effective subsequent to SeptemberB 30, 2013, we present a range of dates that represents the period covered by the applicable derivative instruments. | |
[2] | We make payments to the counterparty when EURIBOR is less than the EURIBOR floor rate. | |
[3] | We receive payments from the counterparty when EURIBOR is greater than the EURIBOR cap rate. |
Derivative_Instruments_UPC_Hol
Derivative Instruments (UPC Holding Cross-Currency Options) (Schedule) (Details) (Foreign Exchange Option [Member], UPC Holding, USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
April 2018 419.8Usd [Member] | ' |
Derivative [Line Items] | ' |
Notional amount | $419.80 |
October 2016 19.8Usd [Member] | ' |
Derivative [Line Items] | ' |
Notional amount | 19.8 |
April 2017 19.8Usd [Member] | ' |
Derivative [Line Items] | ' |
Notional amount | 19.8 |
October 2017 19.8Usd [Member] | ' |
Derivative [Line Items] | ' |
Notional amount | $19.80 |
Derivative_Instruments_Foreign
Derivative Instruments (Foreign Currency Forwards) (Schedule) (Details) (Foreign currency forward contracts) | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
In Millions, unless otherwise specified | October 2013 - October 2014 639.0 USD 473.8 EUR [Member] | October 2013 - October 2014 639.0 USD 473.8 EUR [Member] | October 2013 279.2 EUR 235.0 GBP [Member] | October 2013 279.2 EUR 235.0 GBP [Member] | October 2016 - April 2018 479.0 USD 415.1 CHF [Member] | October 2016 - April 2018 479.0 USD 415.1 CHF [Member] | October 2013 - October 2014 3.3 USD 64.1 CZK [Member] | October 2013 - October 2014 3.3 USD 64.1 CZK [Member] | October 2013 - October 2014 58.4 EUR 71.9 CHF [Member] | October 2013 - October 2014 58.4 EUR 71.9 CHF [Member] | October 2013 - October 2014 19.5 EUR 504.8 CZK [Member] | October 2013 - October 2014 19.5 EUR 504.8 CZK [Member] | October 2013 - October 2014 18.2 EUR 5525.0 HUF [Member] | October 2013 - October 2014 18.2 EUR 5525.0 HUF [Member] | October 2013 - October 2014 52.0 EUR 229.2 PLN [Member] | October 2013 - October 2014 52.0 EUR 229.2 PLN [Member] | October 2013 - July 2014 3.0 GBP 3.5 EUR [Member] | October 2013 - July 2014 3.0 GBP 3.5 EUR [Member] | October 2013 16.5 CHF 13.5 EUR [Member] | October 2013 16.5 CHF 13.5 EUR [Member] | October 2013 300.0 CZK 9.5 EUR [Member] | October 2013 300.0 CZK 9.5 EUR [Member] | October 2013 4500.0 HUF 15.0 EUR [Member] | October 2013 4500.0 HUF 15.0 EUR [Member] | October 2013 75.0 PLN 17.8 EUR [Member] | October 2013 75.0 PLN 17.8 EUR [Member] | October 2013 35.0 RON 7.8 EUR [Member] | October 2013 35.0 RON 7.8 EUR [Member] | October 2013 - September 2014 40.5 USD 30.7 EUR [Member] | October 2013 - September 2014 40.5 USD 30.7 EUR [Member] | October 2013 - September 2014 28.0 USD 14197.5 CLP [Member] | October 2013 - September 2014 28.0 USD 14197.5 CLP [Member] |
LGE Financing [Member] | LGE Financing [Member] | LGE Financing [Member] | LGE Financing [Member] | UPC Holding | UPC Holding | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | UPC Broadband Holding [Member] | Telenet NV [Member] | Telenet NV [Member] | VTR [Member] | VTR [Member] | |
USD ($) | CHF | EUR (€) | GBP (£) | USD ($) | CHF | USD ($) | CHF | USD ($) | CHF | USD ($) | CHF | USD ($) | CHF | USD ($) | CHF | USD ($) | CHF | CHF | EUR (€) | USD ($) | CHF | USD ($) | CHF | USD ($) | CHF | USD ($) | CHF | USD ($) | CHF | USD ($) | CHF | |
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Currency purchased forward | $639 | ' | € 279.20 | ' | $479 | ' | $3.30 | ' | $58.40 | ' | $19.50 | ' | $18.20 | ' | $52 | ' | $3 | ' | 16.5 | ' | $300 | ' | $4,500 | ' | $75 | ' | $35 | ' | $40.50 | ' | $28 | ' |
Currency sold forward | ' | 473.8 | ' | £ 235 | ' | 415.1 | ' | 64.1 | ' | 71.9 | ' | 504.8 | ' | 5,525 | ' | 229.2 | ' | 3.5 | ' | € 13.50 | ' | 11.7 | ' | 15 | ' | 17.8 | ' | 7.8 | ' | 30.7 | ' | 14,197.50 |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) | 9 Months Ended | 0 Months Ended | ||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jul. 25, 2013 | Jul. 31, 2013 | Jul. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | ||
USD ($) | Customer relationships | Virgin Media Capped Call [Member] | Ziggo Collar [Member] | Ziggo Collar [Member] | Ziggo Collar [Member] | Minimum [Member] | Maximum [Member] | |||
Virgin Media Acquisition [Member] | USD ($) | Liberty Global Limited [Member] | Liberty Global Limited [Member] | Liberty Global Limited [Member] | Equity-related derivative instruments | Equity-related derivative instruments | ||||
Put Options Purchased [Member] | Put Options Purchased [Member] | |||||||||
USD ($) | EUR (€) | |||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ||
Estimated volatilities | ' | ' | ' | ' | ' | ' | 23.00% | 37.00% | ||
Discount rate | ' | 9.00% | ' | 0.00% | ' | ' | ' | ' | ||
Additions (a) | $617.80 | [1] | ' | $566.80 | [1] | ' | ' | ' | ' | ' |
Net option contract premium paid | ' | ' | ' | ' | $51 | € 38.60 | ' | ' | ||
[1] | Amount includes (i) $566.8 million representing the estimated fair value of the Virgin Media Capped Calls on June 7, 2013 and (ii) $51.0 million representing premiums paid associated with the Ziggo Collar. |
Fair_Value_Measurements_Summar
Fair Value Measurements (Summary of Assets and Liabililties at Fair Value) (Schedule) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Assets: | ' | ' | ||
Derivative instruments: | $1,154.80 | $1,258.40 | ||
Investments | 3,306 | 947.9 | ||
Total assets | 4,460.80 | 2,206.30 | ||
Liabilities: | ' | ' | ||
Total liabilities | 2,654.50 | 2,730.50 | ||
Quoted prices in active markets for identical assets (Level 1) | ' | ' | ||
Assets: | ' | ' | ||
Derivative instruments: | 0 | 0 | ||
Investments | 2,923.70 | 579.7 | ||
Total assets | 2,923.70 | 579.7 | ||
Liabilities: | ' | ' | ||
Total liabilities | 0 | 0 | ||
Significant other observable inputs (Level 2) | ' | ' | ||
Assets: | ' | ' | ||
Derivative instruments: | 700 | 663.8 | ||
Investments | 0 | 0 | ||
Total assets | 700 | 663.8 | ||
Liabilities: | ' | ' | ||
Total liabilities | 2,624 | 2,708.90 | ||
Significant unobservable inputs (Level 3) | ' | ' | ||
Assets: | ' | ' | ||
Derivative instruments: | 454.8 | 594.6 | ||
Investments | 382.3 | 368.2 | ||
Total assets | 837.1 | 962.8 | ||
Liabilities: | ' | ' | ||
Total liabilities | 30.5 | 21.6 | ||
Cross-currency and interest rate derivative contracts | ' | ' | ||
Assets: | ' | ' | ||
Derivative instruments: | 693.9 | 658.4 | [1] | |
Liabilities: | ' | ' | ||
Liabilities - derivative instruments: | 2,607.30 | 2,699.50 | ||
Cross-currency and interest rate derivative contracts | Quoted prices in active markets for identical assets (Level 1) | ' | ' | ||
Assets: | ' | ' | ||
Derivative instruments: | 0 | 0 | ||
Liabilities: | ' | ' | ||
Liabilities - derivative instruments: | 0 | 0 | ||
Cross-currency and interest rate derivative contracts | Significant other observable inputs (Level 2) | ' | ' | ||
Assets: | ' | ' | ||
Derivative instruments: | 693.9 | 658.4 | ||
Liabilities: | ' | ' | ||
Liabilities - derivative instruments: | 2,607.30 | 2,699.50 | ||
Cross-currency and interest rate derivative contracts | Significant unobservable inputs (Level 3) | ' | ' | ||
Assets: | ' | ' | ||
Derivative instruments: | 0 | 0 | ||
Liabilities: | ' | ' | ||
Liabilities - derivative instruments: | 0 | 0 | ||
Equity-related derivative instruments | ' | ' | ||
Assets: | ' | ' | ||
Derivative instruments: | 454.8 | [2] | 594.6 | [2] |
Liabilities: | ' | ' | ||
Liabilities - derivative instruments: | 30.5 | 21.6 | ||
Equity-related derivative instruments | Quoted prices in active markets for identical assets (Level 1) | ' | ' | ||
Assets: | ' | ' | ||
Derivative instruments: | 0 | 0 | ||
Liabilities: | ' | ' | ||
Liabilities - derivative instruments: | 0 | 0 | ||
Equity-related derivative instruments | Significant other observable inputs (Level 2) | ' | ' | ||
Assets: | ' | ' | ||
Derivative instruments: | 0 | 0 | ||
Liabilities: | ' | ' | ||
Liabilities - derivative instruments: | 0 | 0 | ||
Equity-related derivative instruments | Significant unobservable inputs (Level 3) | ' | ' | ||
Assets: | ' | ' | ||
Derivative instruments: | 454.8 | 594.6 | ||
Liabilities: | ' | ' | ||
Liabilities - derivative instruments: | 30.5 | 21.6 | ||
Foreign currency forward contracts | ' | ' | ||
Assets: | ' | ' | ||
Derivative instruments: | 1.3 | 1.1 | ||
Liabilities: | ' | ' | ||
Liabilities - derivative instruments: | 13.6 | 8.1 | ||
Foreign currency forward contracts | Quoted prices in active markets for identical assets (Level 1) | ' | ' | ||
Assets: | ' | ' | ||
Derivative instruments: | 0 | 0 | ||
Liabilities: | ' | ' | ||
Liabilities - derivative instruments: | 0 | 0 | ||
Foreign currency forward contracts | Significant other observable inputs (Level 2) | ' | ' | ||
Assets: | ' | ' | ||
Derivative instruments: | 1.3 | 1.1 | ||
Liabilities: | ' | ' | ||
Liabilities - derivative instruments: | 13.6 | 8.1 | ||
Foreign currency forward contracts | Significant unobservable inputs (Level 3) | ' | ' | ||
Assets: | ' | ' | ||
Derivative instruments: | 0 | 0 | ||
Liabilities: | ' | ' | ||
Liabilities - derivative instruments: | 0 | 0 | ||
Other | ' | ' | ||
Assets: | ' | ' | ||
Derivative instruments: | 4.8 | 4.3 | ||
Liabilities: | ' | ' | ||
Liabilities - derivative instruments: | 3.1 | 1.3 | ||
Other | Quoted prices in active markets for identical assets (Level 1) | ' | ' | ||
Assets: | ' | ' | ||
Derivative instruments: | 0 | 0 | ||
Liabilities: | ' | ' | ||
Liabilities - derivative instruments: | 0 | 0 | ||
Other | Significant other observable inputs (Level 2) | ' | ' | ||
Assets: | ' | ' | ||
Derivative instruments: | 4.8 | 4.3 | ||
Liabilities: | ' | ' | ||
Liabilities - derivative instruments: | 3.1 | 1.3 | ||
Other | Significant unobservable inputs (Level 3) | ' | ' | ||
Assets: | ' | ' | ||
Derivative instruments: | 0 | 0 | ||
Liabilities: | ' | ' | ||
Liabilities - derivative instruments: | $0 | $0 | ||
[1] | We consider credit risk in our fair value assessments. As of SeptemberB 30, 2013 and DecemberB 31, 2012, (i) the fair values of our cross-currency and interest rate derivative contracts that represented assets have been reduced by credit risk valuation adjustments aggregating $17.7 million and $17.2 million, respectively, and (ii) the fair values of our cross-currency and interest rate derivative contracts that represented liabilities have been reduced by credit risk valuation adjustments aggregating $201.8B million and $156.5B million, respectively. The adjustments to our derivative assets relate to the risk associated with counterparty nonperformance and the adjustments to our derivative liabilities relate to credit risk associated with our own nonperformance. In all cases, the adjustments take into account offsetting liability or asset positions within a given contract. Our determination of credit risk valuation adjustments generally is based on our and our counterpartiesb credit risks, as observed in the credit default swap market and market quotations for certain of our subsidiariesb debt instruments, as applicable. The changes in the credit risk valuation adjustments associated with our cross-currency and interest rate derivative contracts resulted in net gains of $85.1 million and $39.6B million during the three and nine months ended September 30, 2013, respectively, and net losses of $29.9 million and $78.2 million during the three and nine months ended September 30, 2012, respectively. These amounts are included in realized and unrealized losses on derivative instruments, net, in our condensed consolidated statements of operations. For further information concerning our fair value measurements, see note 5. | |||
[2] | The fair value of our equity-related derivative instruments relates to (i) the Virgin Media Capped Calls, as defined and described below, (ii) the Ziggo Collar, and (iii) the share collar (the Sumitomo Collar) with respect to the Sumitomo shares held by our company. The fair values of the Ziggo Collar and the Sumitomo Collar do not include credit risk valuation adjustments as we have assumed that any losses incurred by our company in the event of nonperformance by the respective counterparty would be, subject to relevant insolvency laws, fully offset against amounts we owe to such counterparty pursuant to the secured borrowing arrangements of the Ziggo Collar and Sumitomo Collar. |
Fair_Value_Measurements_Assets
Fair Value Measurements (Assets and Liabilities Reconciliation) (Schedule and Footnote) (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | |
Balance of net assets at January 1, 2013 | $941.20 | |
Additions (a) | 617.8 | [1] |
Cash settlements of Virgin Media Capped Calls | -534.8 | |
Gains (losses) included in net loss (b): | ' | |
Realized and unrealized losses on derivative instruments, net | -243.8 | [2] |
Realized and unrealized gains due to changes in fair values of certain investments, net | 15.1 | [1] |
Foreign currency translation adjustments and other, net | 11.1 | |
Balance of net assets at September 30, 2013 | 806.6 | |
Investments [Member] | ' | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | |
Balance of net assets at January 1, 2013 | 368.2 | |
Additions (a) | 0 | [1] |
Cash settlements of Virgin Media Capped Calls | 0 | |
Gains (losses) included in net loss (b): | ' | |
Realized and unrealized losses on derivative instruments, net | 0 | [2] |
Realized and unrealized gains due to changes in fair values of certain investments, net | 15.1 | [1] |
Foreign currency translation adjustments and other, net | -1 | |
Balance of net assets at September 30, 2013 | 382.3 | |
Equity-Related Derivative Instruments [Member] | ' | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | |
Balance of net assets at January 1, 2013 | 573 | |
Additions (a) | 617.8 | [1] |
Gains (losses) included in net loss (b): | ' | |
Realized and unrealized losses on derivative instruments, net | -243.8 | [2] |
Realized and unrealized gains due to changes in fair values of certain investments, net | 0 | [1] |
Foreign currency translation adjustments and other, net | 12.1 | |
Balance of net assets at September 30, 2013 | $424.30 | |
[1] | Amount includes (i) $566.8 million representing the estimated fair value of the Virgin Media Capped Calls on June 7, 2013 and (ii) $51.0 million representing premiums paid associated with the Ziggo Collar. | |
[2] | Substantially all of the net gains (losses) recognized during the first nine months of 2013 relate to assets and liabilities that we continue to carry on our condensed consolidated balance sheet as of SeptemberB 30, 2013. |
Longlived_Assets_Schedule_of_P
Long-lived Assets (Schedule of PP&E) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $34,248.20 | $21,817 |
Accumulated depreciation | -10,517.70 | -8,379.40 |
Accumulated depreciation | 23,730.50 | 13,437.60 |
Distribution systems | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 24,619.60 | 15,372.30 |
Customer premises equipment | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 6,094.60 | 4,162.60 |
Support equipment, buildings and land | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $3,534 | $2,282.10 |
Longlived_Assets_Narrative_Det
Long-lived Assets (Narrative) (Details) (USD $) | 9 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | |||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
VTR Wireless [Member] | VTR Wireless [Member] | VTR Wireless [Member] | Puerto Rico and Chellomedia [Member] | Puerto Rico [Member] | Chellomedia [Member] | Telenet | Minimum [Member] | ||||
reporting_units | Puerto Rico and Chellomedia [Member] | ||||||||||
Long-Lived Assets to be Abandoned [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital leases | ($108.30) | ($45.50) | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncash vendor financing arrangement, cash increase, excluding value added tax | -366 | -152.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Value added tax outstanding, vendor financing arrangement | 28.9 | 20.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incremental depreciation expense | ' | ' | ' | ' | 55.4 | 42.4 | ' | ' | ' | ' | ' |
Restructuring charges | 139.2 | ' | ' | 79.8 | ' | ' | ' | ' | ' | ' | ' |
Number of reportable units | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' |
Percent of hypothetical decline in fair value of reporting units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% |
Goodwill | 23,565.60 | ' | 13,877.60 | ' | ' | ' | ' | 349.3 | 31.2 | ' | ' |
Accumulated goodwill impairment losses | 281 | ' | 274.8 | ' | ' | ' | ' | ' | ' | ' | ' |
Gross carrying amount | $8,592.90 | ' | $4,496.80 | ' | ' | ' | ' | ' | ' | $74.60 | ' |
Longlived_Assets_Schedule_of_C
Long-lived Assets (Schedule of Changes in Carrying Amount of Goodwill) (Details) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Goodwill [Roll Forward] | ' |
Goodwill beginning balance | $13,877.60 |
Acquisitions and related adjustments | 9,096.20 |
Foreign currency translation adjustments and other | 591.8 |
Goodwill ending balance | 23,565.60 |
European Operations Division Virgin Media (U.K.) [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill beginning balance | 0 |
Acquisitions and related adjustments | 9,020.20 |
Foreign currency translation adjustments and other | 376 |
Goodwill ending balance | 9,396.20 |
European Operations Division Germany [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill beginning balance | 3,770.30 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments and other | 95.4 |
Goodwill ending balance | 3,865.70 |
Telenet (Belgium) [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill beginning balance | 2,158.30 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments and other | 54.6 |
Goodwill ending balance | 2,212.90 |
European Operations Division Netherlands [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill beginning balance | 1,206.20 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments and other | 30.6 |
Goodwill ending balance | 1,236.80 |
European Operations Division Switzerland [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill beginning balance | 3,107.90 |
Acquisitions and related adjustments | 0.1 |
Foreign currency translation adjustments and other | 33 |
Goodwill ending balance | 3,141 |
European Operations Division Other Western Europe [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill beginning balance | 1,031.50 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments and other | 28 |
Goodwill ending balance | 1,059.50 |
European Operations Division Total Western Europe [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill beginning balance | 11,274.20 |
Acquisitions and related adjustments | 9,020.30 |
Foreign currency translation adjustments and other | 617.6 |
Goodwill ending balance | 20,912.10 |
European Operations Division Central and Eastern Europe [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill beginning balance | 1,509.50 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments and other | 0.6 |
Goodwill ending balance | 1,510.10 |
Total European Operations Division [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill beginning balance | 12,783.70 |
Acquisitions and related adjustments | 9,020.30 |
Foreign currency translation adjustments and other | 618.2 |
Goodwill ending balance | 22,422.20 |
VTR Chile [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill beginning balance | 558 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments and other | -28.9 |
Goodwill ending balance | 529.1 |
Corporate and Other [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill beginning balance | 535.9 |
Acquisitions and related adjustments | 75.9 |
Foreign currency translation adjustments and other | 2.5 |
Goodwill ending balance | $614.30 |
Longlived_Assets_Schedule_of_I
Long-lived Assets (Schedule of Intangible Assets Subject to Amortization, Net) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Gross carrying amount | $8,592.90 | $4,496.80 |
Accumulated amortization | -2,444.30 | -1,915.50 |
Net carrying amount | 6,148.60 | 2,581.30 |
Customer relationships | ' | ' |
Gross carrying amount | 8,203.50 | 4,117.50 |
Accumulated amortization | -2,272.70 | -1,780 |
Net carrying amount | 5,930.80 | 2,337.50 |
Other | ' | ' |
Gross carrying amount | 389.4 | 379.3 |
Accumulated amortization | -171.6 | -135.5 |
Net carrying amount | $217.80 | $243.80 |
Debt_and_Capital_Lease_Obligat2
Debt and Capital Lease Obligations (Consolidated Debt and Capital Lease Obligations) (Schedule) (Details) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | USD ($) | USD ($) | VM Credit Facility | VM Credit Facility | VM Credit Facility | VM Notes | VM Notes | VM Notes | VM Convertible Notes | VM Convertible Notes | VM Convertible Notes | UPC Broadband Holding Bank Facility | UPC Broadband Holding Bank Facility | UPC Broadband Holding Bank Facility | UPC Holding Senior Notes | UPC Holding Senior Notes | UPC Holding Senior Notes | UPCB SPE Notes | UPCB SPE Notes | UPCB SPE Notes | Unitymedia KabelBW Notes | Unitymedia KabelBW Notes | Unitymedia KabelBW Notes | Unitymedia KabelBW Revolving Credit Facilities | Unitymedia KabelBW Revolving Credit Facilities | Unitymedia KabelBW Revolving Credit Facilities | Telenet Credit Facility | Telenet Credit Facility | Telenet Credit Facility | Telenet SPE Notes | Telenet SPE Notes | Telenet SPE Notes | Sumitomo Collar Loan | Sumitomo Collar Loan | Sumitomo Collar Loan | Ziggo Collar | Ziggo Collar | Ziggo Collar | Liberty Puerto Rico Bank Facility | Liberty Puerto Rico Bank Facility | Ziggo Margin Loan | Ziggo Margin Loan | Vendor financing | Vendor financing | Other | Other | Other | Unitymedia KabelBW | Unitymedia KabelBW | Telenet | Telenet | Virgin Media | Virgin Media | Other | Other | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
USD ($) | GBP (£) | USD ($) | USD ($) | GBP (£) | USD ($) | USD ($) | GBP (£) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CLP | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Weighted average interest rate | 5.57% | [1] | ' | 3.77% | [1] | 3.77% | [1] | ' | 6.36% | [1] | 6.36% | [1] | ' | 6.50% | [1],[2] | 6.50% | [1],[2] | ' | 3.73% | [1] | 3.73% | [1] | ' | 7.52% | [1] | 7.52% | [1] | ' | 6.88% | [1] | 6.88% | [1] | ' | 7.04% | [1] | 7.04% | [1] | ' | 3.23% | [1] | 3.23% | [1] | ' | 3.62% | [1] | 3.62% | [1] | ' | 5.92% | [1] | 5.92% | [1] | ' | 1.88% | [1] | 1.88% | [1] | ' | 0.45% | [1],[3] | 0.45% | [1],[3] | ' | 6.88% | [1],[4] | ' | 3.08% | [1] | ' | 3.58% | [1],[5] | ' | 8.49% | [1] | 8.49% | [1] | ' | ' | ' | ' | ' | ' | ' | 8.49% | [1] | ' | ||||||||||||||||||||||||
Unused borrowing capacity | $3,288.80 | [6] | ' | $1,068.10 | [6] | £ 660 | [6] | ' | $0 | [6] | £ 0 | [6] | ' | $0 | [2],[6] | £ 0 | [2],[6] | ' | $1,415.70 | [6] | € 1,046.20 | [6] | ' | $0 | [6] | € 0 | [6] | ' | $0 | [6] | € 0 | [6] | ' | $0 | [6] | € 0 | [6] | ' | $565 | [6] | € 417.50 | [6] | ' | $213.80 | [6] | € 158 | [6] | ' | $0 | [6] | € 0 | [6] | ' | $0 | [6] | € 0 | [6] | ' | $0 | [3],[6] | € 0 | [3],[6] | ' | $25 | [4],[6] | ' | $0 | [6] | ' | $0 | [5],[6] | ' | $1.20 | [6] | 585 | [6] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||
Estimated fair value | 43,093.70 | [7] | 27,642.20 | [7] | 4,334.80 | [7] | ' | 0 | [7] | 8,973.70 | [7] | ' | 0 | [7] | 153.3 | [2],[7] | ' | 0 | [2],[7] | 5,622.80 | [7] | ' | 5,494.40 | [7] | 3,174.50 | [7] | ' | 3,190 | [7] | 4,475.20 | [7] | ' | 4,502.30 | [7] | 7,785 | [7] | ' | 7,416.50 | [7] | 0 | [7] | ' | 0 | [7] | 1,917.20 | [7] | ' | 1,860 | [7] | 2,797.30 | [7] | ' | 2,777.60 | [7] | 1,007.40 | [7] | ' | 1,175.10 | [7] | 835.9 | [3],[7] | ' | 0 | [3],[7] | 658.4 | [4],[7] | 667 | [4],[7] | 622.4 | [7] | 0 | [7] | 418.1 | [5],[7] | 276.8 | [5],[7] | 317.7 | [7] | ' | 282.5 | [7] | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||
Carrying value | 42,149.30 | [8] | 26,134.90 | [8] | 4,315 | [8] | ' | 0 | [8] | 9,038.40 | [8] | ' | 0 | [8] | 57.7 | [2],[8] | ' | 0 | [2],[8] | 5,598.50 | [8] | ' | 5,466.80 | [8] | 3,047.80 | [8] | ' | 2,905.90 | [8] | 4,187.20 | [8] | ' | 4,145.20 | [8] | 7,488.90 | [8] | ' | 6,815.50 | [8] | 0 | [8] | ' | 0 | [8] | 1,900.70 | [8] | ' | 1,853.70 | [8] | 2,707.50 | [8] | ' | 2,641 | [8] | 957.3 | [8] | ' | 1,083.60 | [8] | 835.7 | [3],[8] | ' | 0 | [3],[8] | 656.4 | [4],[8] | 663.9 | [4],[8] | 622.4 | [8] | 0 | [8] | 418.1 | [5],[8] | 276.8 | [5],[8] | 317.7 | [8] | ' | 282.5 | [8] | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||
Capital lease obligations: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total capital lease obligations | 1,852.40 | [8] | 1,389.60 | [8] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 941 | [8] | 937.1 | [8] | 441.9 | [8] | 405.1 | [8] | 402.3 | [8] | 0 | [8] | 67.2 | [8] | 47.4 | [8] | |||||||||||||||||||||||||||||||||||||||||||||
Total debt and capital lease obligations | 44,001.70 | [8] | 27,524.50 | [8] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Current maturities | -854.1 | [8] | -363.5 | [8] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term debt and capital lease obligations | $43,147.60 | [8] | $27,161 | [8] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||
[1] | Represents the weighted average interest rate in effect at SeptemberB 30, 2013 for all borrowings outstanding pursuant to each debt instrument including any applicable margin. The interest rates presented represent stated rates and do not include the impact of our interest rate derivative contracts, deferred financing costs, original issue premiums or discounts or commitment fees, all of which affect our overall cost of borrowing. Including the effects of derivative instruments, original issue premiums and discounts and commitment fees, but excluding the impact of financing costs, our weighted average interest rate on our aggregate variable- and fixed-rate indebtedness was approximately 6.7% at SeptemberB 30, 2013. For information concerning our derivative instruments, see note 4. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | The $2,716.8 million fair value of the VM Convertible Notes (as defined and described below) on the date of the Virgin Media Acquisition includes $1,056.8 million that we allocated to a debt component and $1,660.0 million that we allocated to an equity component. See the related discussion below for additional information. The amount reported in the estimated fair value column for the VM Convertible Notes represents the estimated fair value of the remaining VM Convertible Notes outstanding as of SeptemberB 30, 2013, including both the debt and equity components. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | For information regarding the Ziggo Collar Loan, see note 4. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | In May 2013, we obtained a waiver for a technical default under the Liberty Puerto Rico Bank Facility. The default was identified in connection with our review of the financial statements of OneLink for periods prior to our November 8, 2012 acquisition of OneLink. As a result of this review and a review of the related compliance certificates furnished to lenders, we concluded during the second quarter of 2013 that materially misstated financial information had been provided to lenders for the 2012 reporting periods prior to and including September 30, 2012. The furnishing of this materially misstated financial information to lenders constituted a technical default under the Liberty Puerto Rico Bank Facility, but did not create a cross default in any of our other debt agreements. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[5] | Represents amounts owed pursuant to interest-bearing vendor financing arrangements that are generally due within one year. At SeptemberB 30, 2013 and DecemberB 31, 2012, the amounts owed pursuant to these arrangements include $33.2 million and $29.1 million, respectively, of value-added taxes that were paid on our behalf by the vendor. Repayments of vendor financing obligations are included in repayments and repurchases of debt and capital lease obligations in our condensed consolidated statements of cash flows. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[6] | Unused borrowing capacity represents the maximum availability under the applicable facility at SeptemberB 30, 2013 without regard to covenant compliance calculations or other conditions precedent to borrowing. At SeptemberB 30, 2013, the full amount of unused borrowing capacity was available to be borrowed under each of the respective subsidiary facilities based on the applicable leverage and other financial covenants, except as noted below. At SeptemberB 30, 2013, our availability under the UPC Broadband Holding Bank Facility (as defined and described below), the VM Credit Facility (as defined and described below), Unitymedia KabelBWbs revolving credit facilities, the CLP 60.0 billion ($118.8 million) term loan bank facility of VTR Wireless (the VTR Wireless Bank Facility) and the bank credit facility of Liberty Puerto Rico (the Liberty Puerto Rico Bank Facility) was limited to €365.5 million ($494.6 million), £501.4 million ($811.5 million), €80.0 million ($108.3 million), CLP 585.0 million ($1.2 million) and $14.6 million, respectively. When the relevant SeptemberB 30, 2013 compliance reporting requirements have been completed and assuming no changes from SeptemberB 30, 2013 borrowing levels, we anticipate that our availability under the UPC Broadband Holding Bank Facility, the VM Credit Facility and the Liberty Puerto Rico Bank Facility will be limited to €432.3 million ($585.0 million), £622.0 million ($1,006.6 million) and $25.0 million, respectively. In addition to the limitations noted above, the debt instruments of our subsidiaries contain restricted payment tests that limit the amount that can be loaned or distributed to other Liberty Global subsidiaries and ultimately to Liberty Global. When the relevant SeptemberB 30, 2013 compliance reporting requirements have been completed and assuming no changes from SeptemberB 30, 2013 borrowing levels, these restrictions are not expected to impact our ability to access the liquidity of our subsidiaries to satisfy our corporate liquidity needs beyond what is described above, except that we anticipate that only £60.7 million ($98.2 million) and €117.4 million ($158.9 million) of the borrowing capacity of Virgin Media and Unitymedia KabelBW, respectively, and none of the liquidity of Liberty Puerto Rico will be available under these tests to be loaned or distributed to other Liberty Global subsidiaries and ultimately to Liberty Global. No amounts were available to be loaned or distributed by these subsidiaries at SeptemberB 30, 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[7] | The estimated fair values of our debt instruments were determined using the average of applicable bid and ask prices (mostly Level 1 of the fair value hierarchy) or, when quoted market prices are unavailable or not considered indicative of fair value, discounted cash flow models (mostly Level 2 of the fair value hierarchy). The discount rates used in the cash flow models are based on the market interest rates and estimated credit spreads of the applicable entity, to the extent available, and other relevant factors. For additional information concerning fair value hierarchies, see note 5. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[8] | Amounts include the impact of premiums and discounts, where applicable. |
Debt_and_Capital_Lease_Obligat3
Debt and Capital Lease Obligations (Consolidated Debt and Capital Lease Obligations) (Footnotes) (Details) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jun. 07, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 07, 2013 | Sep. 30, 2013 | Jun. 07, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |||||||||||
USD ($) | USD ($) | Aggregate Variable and Fixed Rate Indebtedness | UPC Broadband Holding Bank Facility | UPC Broadband Holding Bank Facility | VTR Wireless Bank Facility | VTR Wireless Bank Facility | Liberty Puerto Rico Bank Facility | VM Credit Facility | VM Credit Facility | Unitymedia KabelBW Revolving Credit Facilities | Unitymedia KabelBW Revolving Credit Facilities | VM Convertible Notes | VM Convertible Notes | VM Convertible Notes | Vendor financing | Vendor financing | Debt Component [Member] | Equity Component [Member] | Equity Component [Member] | Virgin Media | Unitymedia KabelBW | Liberty Puerto Rico | ||||||||||||
USD ($) | EUR (€) | USD ($) | CLP | USD ($) | USD ($) | GBP (£) | USD ($) | EUR (€) | USD ($) | GBP (£) | USD ($) | USD ($) | USD ($) | VM Convertible Notes | VM Convertible Notes | VM Convertible Notes | USD ($) | USD ($) | USD ($) | |||||||||||||||
USD ($) | USD ($) | USD ($) | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Weighted average interest rate | 5.57% | [1] | ' | 6.70% | 3.73% | [1] | 3.73% | [1] | ' | ' | 6.88% | [1],[2] | 3.77% | [1] | 3.77% | [1] | 3.23% | [1] | 3.23% | [1] | 6.50% | [1],[3] | 6.50% | [1],[3] | ' | 3.58% | [1],[4] | ' | ' | ' | ' | ' | ' | ' |
Facility amount | ' | ' | ' | ' | ' | $118,800,000 | 60,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Unused borrowing capacity considering limitations | ' | ' | ' | 494,600,000 | 365,500,000 | 1,200,000 | 585,000,000 | 14,600,000 | 811,500,000 | 501,400,000 | 108,300,000 | 80,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Unused borrowing capacity | 3,288,800,000 | [5] | ' | ' | 1,415,700,000 | [5] | 1,046,200,000 | [5] | ' | ' | 25,000,000 | [2],[5] | 1,068,100,000 | [5] | 660,000,000 | [5] | 565,000,000 | [5] | 417,500,000 | [5] | 0 | [3],[5] | 0 | [3],[5] | ' | 0 | [4],[5] | ' | ' | ' | ' | ' | ' | ' |
Unused borrowing capacity, considering limitations, after compliance reporting requirements | ' | ' | ' | 585,000,000 | 432,300,000 | ' | ' | 25,000,000 | 1,006,600,000 | 622,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Unused borrowing capacity, amount restricted to subsidiaries | ' | ' | ' | 158,900,000 | 117,400,000 | ' | ' | ' | 98,200,000 | 60,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Available to be loand or distributed by subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||||||
Fair value of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 113,700,000 | ' | 2,716,800,000 | ' | ' | 1,056,800,000 | 998,800,000 | 1,660,000,000 | ' | ' | ' | |||||||||||
General term of vendor financing arrangements for amounts due | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Value added tax outstanding, vendor financing arrangement | $28,900,000 | $20,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $33,200,000 | $29,100,000 | ' | ' | ' | ' | ' | ' | |||||||||||
[1] | Represents the weighted average interest rate in effect at SeptemberB 30, 2013 for all borrowings outstanding pursuant to each debt instrument including any applicable margin. The interest rates presented represent stated rates and do not include the impact of our interest rate derivative contracts, deferred financing costs, original issue premiums or discounts or commitment fees, all of which affect our overall cost of borrowing. Including the effects of derivative instruments, original issue premiums and discounts and commitment fees, but excluding the impact of financing costs, our weighted average interest rate on our aggregate variable- and fixed-rate indebtedness was approximately 6.7% at SeptemberB 30, 2013. For information concerning our derivative instruments, see note 4. | |||||||||||||||||||||||||||||||||
[2] | In May 2013, we obtained a waiver for a technical default under the Liberty Puerto Rico Bank Facility. The default was identified in connection with our review of the financial statements of OneLink for periods prior to our November 8, 2012 acquisition of OneLink. As a result of this review and a review of the related compliance certificates furnished to lenders, we concluded during the second quarter of 2013 that materially misstated financial information had been provided to lenders for the 2012 reporting periods prior to and including September 30, 2012. The furnishing of this materially misstated financial information to lenders constituted a technical default under the Liberty Puerto Rico Bank Facility, but did not create a cross default in any of our other debt agreements. | |||||||||||||||||||||||||||||||||
[3] | The $2,716.8 million fair value of the VM Convertible Notes (as defined and described below) on the date of the Virgin Media Acquisition includes $1,056.8 million that we allocated to a debt component and $1,660.0 million that we allocated to an equity component. See the related discussion below for additional information. The amount reported in the estimated fair value column for the VM Convertible Notes represents the estimated fair value of the remaining VM Convertible Notes outstanding as of SeptemberB 30, 2013, including both the debt and equity components. | |||||||||||||||||||||||||||||||||
[4] | Represents amounts owed pursuant to interest-bearing vendor financing arrangements that are generally due within one year. At SeptemberB 30, 2013 and DecemberB 31, 2012, the amounts owed pursuant to these arrangements include $33.2 million and $29.1 million, respectively, of value-added taxes that were paid on our behalf by the vendor. Repayments of vendor financing obligations are included in repayments and repurchases of debt and capital lease obligations in our condensed consolidated statements of cash flows. | |||||||||||||||||||||||||||||||||
[5] | Unused borrowing capacity represents the maximum availability under the applicable facility at SeptemberB 30, 2013 without regard to covenant compliance calculations or other conditions precedent to borrowing. At SeptemberB 30, 2013, the full amount of unused borrowing capacity was available to be borrowed under each of the respective subsidiary facilities based on the applicable leverage and other financial covenants, except as noted below. At SeptemberB 30, 2013, our availability under the UPC Broadband Holding Bank Facility (as defined and described below), the VM Credit Facility (as defined and described below), Unitymedia KabelBWbs revolving credit facilities, the CLP 60.0 billion ($118.8 million) term loan bank facility of VTR Wireless (the VTR Wireless Bank Facility) and the bank credit facility of Liberty Puerto Rico (the Liberty Puerto Rico Bank Facility) was limited to €365.5 million ($494.6 million), £501.4 million ($811.5 million), €80.0 million ($108.3 million), CLP 585.0 million ($1.2 million) and $14.6 million, respectively. When the relevant SeptemberB 30, 2013 compliance reporting requirements have been completed and assuming no changes from SeptemberB 30, 2013 borrowing levels, we anticipate that our availability under the UPC Broadband Holding Bank Facility, the VM Credit Facility and the Liberty Puerto Rico Bank Facility will be limited to €432.3 million ($585.0 million), £622.0 million ($1,006.6 million) and $25.0 million, respectively. In addition to the limitations noted above, the debt instruments of our subsidiaries contain restricted payment tests that limit the amount that can be loaned or distributed to other Liberty Global subsidiaries and ultimately to Liberty Global. When the relevant SeptemberB 30, 2013 compliance reporting requirements have been completed and assuming no changes from SeptemberB 30, 2013 borrowing levels, these restrictions are not expected to impact our ability to access the liquidity of our subsidiaries to satisfy our corporate liquidity needs beyond what is described above, except that we anticipate that only £60.7 million ($98.2 million) and €117.4 million ($158.9 million) of the borrowing capacity of Virgin Media and Unitymedia KabelBW, respectively, and none of the liquidity of Liberty Puerto Rico will be available under these tests to be loaned or distributed to other Liberty Global subsidiaries and ultimately to Liberty Global. No amounts were available to be loaned or distributed by these subsidiaries at SeptemberB 30, 2013. |
Debt_and_Capital_Lease_Obligat4
Debt and Capital Lease Obligations (VM Credit Facility) (Details) | 9 Months Ended | |||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |||||||
VM Credit Facility | VM Credit Facility | VM Credit Facility A [Member] | VM Credit Facility A [Member] | VM Credit Facility B [Member] | VM Credit Facility B [Member] | VM Credit Facility C [Member] | VM Credit Facility C [Member] | VM Revolving Credit Facility [Member] | VM Revolving Credit Facility [Member] | VM Credit Facility B and C [Member] | ||||||||
USD ($) | GBP (£) | USD ($) | GBP (£) | USD ($) | GBP (£) | USD ($) | GBP (£) | USD ($) | GBP (£) | |||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Facility amount | ' | ' | $606.90 | £ 375 | ' | £ 2,755 | $971 | £ 600 | $1,068.10 | £ 660 | ' | |||||||
Unused borrowing capacity | 1,068.10 | [1] | ' | 0 | [1] | ' | 0 | [1] | ' | 0 | [1] | ' | 1,068.10 | [1] | ' | ' | ||
Carrying value | 4,315 | [2] | ' | 606.9 | [2] | ' | 2,741.80 | [2] | ' | 966.3 | [2] | ' | 0 | [2] | ' | ' | ||
Description of variable rate basis | ' | ' | 'LIBOR | 'LIBOR | 'LIBOR | [3] | 'LIBOR | [3] | 'LIBOR | [3] | 'LIBOR | [3] | 'LIBOR | 'LIBOR | ' | |||
Basis spread on variable rate | ' | ' | 3.25% | 3.25% | 2.75% | 2.75% | 3.75% | 3.75% | 3.25% | 3.25% | ' | |||||||
EBITDA Minimum Percentage | 80.00% | 80.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Minimum term after change in control lenders may cacncel commitments | '30 days | '30 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Debt threshhold default in excess of which triggers event of default for aggregate debt | 80.9 | 50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Unused borrowing capacity, considering limitations, after compliance reporting requirements | $1,006.60 | £ 622 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Fee on unused portion of credit facility | 1.30% | 1.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
LIBOR floor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.75% | |||||||
[1] | When the relevant SeptemberB 30, 2013 compliance reporting requirements have been completed and assuming no changes from SeptemberB 30, 2013 borrowing levels, we anticipate that our availability will be limited to £622.0 million ($1,006.6 million). The VM Revolving Facility has a commitment fee on unused and uncanceled balances of 1.3% per year. | |||||||||||||||||
[2] | The carrying values of VM Facilities B and C include the impact of discounts. | |||||||||||||||||
[3] | VM Facilities B and C have a LIBOR floor of 0.75%. |
Debt_and_Capital_Lease_Obligat5
Debt and Capital Lease Obligations (VM Notes) (Details) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jun. 07, 2013 | ||||
In Millions, unless otherwise specified | USD ($) | USD ($) | VM Notes | VM Notes | 2018 VM Senior Secured Notes [Member] | 2018 VM Dollar Senior Secured Notes | 2018 VM Sterling Senior Secured Notes | 2018 VM Sterling Senior Secured Notes | 2019 VM Senior Notes [Member] | 2019 VM Dollar Senior Notes | 2019 VM Sterling Senior Notes | 2019 VM Sterling Senior Notes | January 2021 VM Senior Secured Notes [Member] | January 2021 VM Dollar Senior Secured Notes | January 2021 VM Sterling Senior Secured Notes | January 2021 VM Sterling Senior Secured Notes | April 2021 VM Senior Secured Notes [Member] | April 2021 VM Dollar Senior Secured Notes | April 2021 VM Sterling Senior Secured Notes | April 2021 VM Sterling Senior Secured Notes | 2022 VM Senior Notes [Member] | 2022 VM 5.25% Dollar Senior Notes | 2022 VM 4.875% Dollar Senior Notes | 2022 VM Sterling Senior Notes | 2022 VM Sterling Senior Notes | 2023 VM Senior Notes [Member] | 2023 VM Dollar Senior Notes | 2023 VM Sterling Senior Notes | 2023 VM Sterling Senior Notes | Merger Agreement Creating Ultimate Parent Company [Member] | ||||
USD ($) | USD ($) | USD ($) | USD ($) | GBP (£) | USD ($) | USD ($) | GBP (£) | USD ($) | USD ($) | GBP (£) | USD ($) | USD ($) | GBP (£) | USD ($) | USD ($) | USD ($) | GBP (£) | USD ($) | USD ($) | GBP (£) | VM Notes | |||||||||||||
USD ($) | ||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Interest rate | 5.25% | ' | ' | ' | ' | 6.50% | 7.00% | 7.00% | ' | 8.38% | 8.88% | 8.88% | ' | 5.25% | 5.50% | 5.50% | ' | 5.38% | 6.00% | 6.00% | ' | 5.25% | 4.88% | 5.13% | 5.13% | ' | 6.38% | 7.00% | 7.00% | ' | ||||
Outstanding principal amount | ' | ' | $8,798.20 | ' | ' | $1,000 | $1,416.10 | £ 875 | ' | $507.10 | $410.30 | £ 253.5 | ' | $447.90 | $1,017 | £ 628.4 | ' | $1,000 | $1,780.10 | £ 1,100 | ' | $95 | $118.70 | $71.40 | £ 44.1 | ' | $530 | $404.60 | £ 250 | ' | ||||
Estimated fair value | 43,093.70 | [1] | 27,642.20 | [1] | 8,973.70 | [1] | 0 | [1] | ' | 1,042.50 | 1,479.70 | ' | ' | 551.5 | 446.4 | ' | ' | 437.8 | 1,023.90 | ' | ' | 978.8 | 1,812.40 | ' | ' | 93.1 | 100.1 | 66.8 | ' | ' | 529 | 411.7 | ' | ' |
Carrying value | 42,149.30 | [2] | 26,134.90 | [2] | 9,038.40 | [2] | 0 | [2] | ' | 1,045.20 | 1,484.50 | ' | ' | 559.4 | 450.8 | ' | ' | 462.7 | 1,033.40 | ' | ' | 1,000 | 1,780.10 | ' | ' | 95.9 | 119.7 | 72.1 | ' | ' | 530 | 404.6 | ' | ' |
Granted security interest in escrow account | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,557.50 | ||||
Repurchase price of par | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.00% | ' | ' | ' | ' | ' | ' | ' | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Notes redeemed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $52.10 | $35 | £ 21.6 | ' | ' | ' | ' | ' | $405 | $781.30 | $576 | £ 355.9 | ' | ' | ' | ' | ' | ||||
Additional basis points on discount rate used to calculate redemption premium on debt instrument | ' | ' | ' | ' | 0.50% | ' | ' | ' | 0.50% | ' | ' | ' | 0.25% | ' | ' | ' | 0.50% | ' | ' | ' | 0.50% | ' | ' | ' | ' | 0.50% | ' | ' | ' | ' | ||||
Percentage of aggregate debt instruments outstanding subject to redemption | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | ' | ' | ' | ' | ||||
Debt instrument redemption percent of principal amount outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 105.38% | 106.00% | 106.00% | ' | ' | ' | ' | ' | ' | 106.38% | 107.00% | 107.00% | ' | ||||
2014 | ' | ' | ' | ' | ' | 103.25% | 103.50% | 103.50% | ' | 104.19% | 104.44% | 104.44% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
2015 | ' | ' | ' | ' | ' | 101.63% | 101.75% | 101.75% | ' | 102.79% | 102.96% | 102.96% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
2016 | ' | ' | ' | ' | ' | 100.00% | 100.00% | 100.00% | ' | 101.40% | 101.48% | 101.48% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
2017 | ' | ' | ' | ' | ' | 100.00% | 100.00% | 100.00% | ' | 100.00% | 100.00% | 100.00% | ' | ' | ' | ' | ' | 102.69% | 103.00% | 103.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
2018 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | 100.00% | ' | ' | ' | ' | ' | 101.34% | 101.50% | 101.50% | ' | ' | ' | ' | ' | ' | 103.19% | 103.50% | 103.50% | ' | ||||
2019 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | 100.00% | ' | ' | ' | ' | ' | ' | 102.13% | 102.33% | 102.33% | ' | ||||
2020 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | 100.00% | ' | ' | ' | ' | ' | ' | 101.06% | 101.67% | 101.67% | ' | ||||
2021 and thereafter | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | 100.00% | ' | ||||
[1] | The estimated fair values of our debt instruments were determined using the average of applicable bid and ask prices (mostly Level 1 of the fair value hierarchy) or, when quoted market prices are unavailable or not considered indicative of fair value, discounted cash flow models (mostly Level 2 of the fair value hierarchy). The discount rates used in the cash flow models are based on the market interest rates and estimated credit spreads of the applicable entity, to the extent available, and other relevant factors. For additional information concerning fair value hierarchies, see note 5. | |||||||||||||||||||||||||||||||||
[2] | Amounts include the impact of premiums and discounts, where applicable. |
Debt_and_Capital_Lease_Obligat6
Debt and Capital Lease Obligations (VM Convertible Notes) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2013 | Jun. 07, 2013 | Apr. 30, 2008 | Jun. 07, 2013 | Sep. 30, 2013 | Jun. 07, 2013 | Sep. 30, 2013 | Jul. 09, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jul. 09, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jul. 09, 2013 |
VM Convertible Notes [Member] | VM Convertible Notes [Member] | VM Convertible Notes [Member] | Debt Component [Member] | Equity Component [Member] | Equity Component [Member] | Exchange Per $1000 Principal Amount [Member] | Make-Whole Exchange Period [Member] | Class A Ordinary Shares [Member] | Class A Ordinary Shares [Member] | Class A Ordinary Shares [Member] | Class C Ordinary Shares [Member] | Class C Ordinary Shares [Member] | Class C Ordinary Shares [Member] | ||
VM Convertible Notes [Member] | VM Convertible Notes [Member] | VM Convertible Notes [Member] | VM Convertible Notes [Member] | VM Convertible Notes [Member] | VM Convertible Notes [Member] | Exchange Per $1000 Principal Amount [Member] | Make-Whole Exchange Period [Member] | VM Convertible Notes [Member] | Exchange Per $1000 Principal Amount [Member] | Make-Whole Exchange Period [Member] | |||||
VM Convertible Notes [Member] | VM Convertible Notes [Member] | VM Convertible Notes [Member] | VM Convertible Notes [Member] | ||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding principal amount | ' | $54,800,000 | ' | $1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate | 5.25% | ' | ' | 6.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of debt | ' | 113,700,000 | 2,716,800,000 | ' | 1,056,800,000 | 998,800,000 | 1,660,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt conversion amount | ' | 885,100,000 | ' | ' | ' | ' | ' | 910.51 | 937.37 | ' | ' | ' | ' | ' | ' |
Debt conversion shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,100,000 | 13.4339 | 13.8302 | 9,800,000 | 10.0312 | 10.3271 |
Debt conversion, principal amount | ' | $944,200,000 | ' | ' | ' | ' | ' | $1,000 | $1,000 | ' | ' | ' | ' | ' | ' |
Debt_and_Capital_Lease_Obligat7
Debt and Capital Lease Obligations (UPC Broadband Holding Bank Facility) (Details) | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 26, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | ||||||||||||||||||||||||||||
USD ($) | UPC Broadband Holding Bank Facility | UPC Broadband Holding Bank Facility | UPC Broadband Holding Bank Facility Q Debt [Member] | UPC Broadband Holding Bank Facility Q Debt [Member] | UPC Broadband Holding Bank Facility R Debt [Member] | UPC Broadband Holding Bank Facility R Debt [Member] | UPC Broadband Holding Bank Facility S Debt [Member] | UPC Broadband Holding Bank Facility S Debt [Member] | UPC Broadband Holding Bank Facility V Debt [Member] | UPC Broadband Holding Bank Facility V Debt [Member] | UPC Broadband Holding Bank Facility Y Debt [Member] | UPC Broadband Holding Bank Facility Y Debt [Member] | UPC Broadband Holding Bank Facility Z Debt [Member] | UPC Broadband Holding Bank Facility Z Debt [Member] | UPC Broadband Holding Bank Facility AC Debt [Member] | UPC Broadband Holding Bank Facility AC Debt [Member] | UPC Broadband Holding Bank Facility AD Debt [Member] | UPC Broadband Holding Bank Facility AD Debt [Member] | UPC Broadband Holding Bank Facility AE Debt [Member] | UPC Broadband Holding Bank Facility AE Debt [Member] | UPC Broadband Holding Bank Facility AE1 Debt [Member] | UPC Broadband Holding Bank Facility AE1 Debt [Member] | UPC Broadband Holding Bank Facility AF Debt [Member] | UPC Broadband Holding Bank Facility AF Debt [Member] | UPC Broadband Holding Bank Facility AG Debt [Member] | UPC Broadband Holding Bank Facility AG Debt [Member] | UPC Broadband Holding Bank Facility AG Debt [Member] | UPC Broadband Holding Bank Facility AH Debt [Member] | UPC Broadband Holding Bank Facility AH Debt [Member] | UPC Broadband Holding Bank Facility AG1 Debt [Member] [Member] | UPC Broadband Holding Bank Facility AG1 Debt [Member] [Member] | UPC Broadband Holding Bank Facility AI Debt [Member] | UPC Broadband Holding Bank Facility AI Debt [Member] | Elimination of Facilities V, Y, Z, AC and AD in Consolidation [Member] | UPC Broadband Holding Bank Facilities R, S, T, U and X [Member] | VTR Wireless Bank Facility | VTR Wireless Bank Facility | Amount Rolled Into Facility AG [Member] | Amount Rolled Into Facility AG [Member] | Amount Rolled Into Facility AG [Member] | Amount Rolled Into Facility AG [Member] | Amounts Rolled Into Facility AG1 [Member] | Amounts Rolled Into Facility AG1 [Member] | Amounts Rolled Into Facility AG1 [Member] | Amounts Rolled Into Facility AG1 [Member] | Amount Rolled Into AE1 [Member] | Amount Rolled Into AE1 [Member] | Amount Rolled Into AE1 [Member] | Amount Rolled Into AE1 [Member] | Amount Rolled Into AI [Member] | Amount Rolled Into AI [Member] | Amount Rolled Into AI [Member] | Amount Rolled Into AI [Member] | |||||||||||||||||||||||||||||
USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | CLP | UPC Broadband Holding Bank Facility R Debt [Member] | UPC Broadband Holding Bank Facility R Debt [Member] | UPC Broadband Holding Bank Facility S Debt [Member] | UPC Broadband Holding Bank Facility S Debt [Member] | UPC Broadband Holding Bank Facility R Debt [Member] | UPC Broadband Holding Bank Facility R Debt [Member] | UPC Broadband Holding Bank Facility S Debt [Member] | UPC Broadband Holding Bank Facility S Debt [Member] | UPC Broadband Holding Bank Facility R Debt [Member] | UPC Broadband Holding Bank Facility R Debt [Member] | UPC Broadband Holding Bank Facility W Debt [Member] | UPC Broadband Holding Bank Facility W Debt [Member] | UPC Broadband Holding Bank Facility W Debt [Member] | UPC Broadband Holding Bank Facility W Debt [Member] | UPC Broadband Holding Bank Facility AA Debt [Member] | UPC Broadband Holding Bank Facility AA Debt [Member] | |||||||||||||||||||||||||||||||
USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||
Outstanding principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,992.40 | € 1,472.40 | ' | $1,305 | ' | $111 | € 82 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||
Facility amount | ' | ' | ' | ' | 30 | [1] | ' | 111 | [1] | ' | 545.5 | [1] | ' | 500 | [1],[2] | ' | 750 | [1],[2] | ' | 1,000 | [1],[2] | ' | 750 | [1],[2] | ' | 750 | [1],[2] | ' | 602.5 | [1] | 90.5 | 66.9 | ' | 500 | [1] | ' | 1,554.40 | [1] | ' | ' | 1,305 | [1] | ' | ' | 1,375.10 | 1,016.20 | [1] | ' | ' | 118.8 | 60,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||
Carrying value | ' | 5,598.50 | [3] | ' | 0 | [3] | ' | 150.2 | [3] | ' | 738.2 | [3] | ' | 676.6 | [2],[3] | ' | 1,014.80 | [2],[3] | ' | 1,000 | [2],[3] | ' | 750 | [2],[3] | ' | 750 | [2],[3] | ' | 815.2 | [3] | ' | ' | ' | 494.9 | [3] | ' | 2,098.50 | [3] | ' | ' | 1,301.50 | [3] | ' | ' | ' | 0 | [3] | ' | -4,191.40 | [3] | ' | 117.7 | 59,400 | 89.6 | 66.2 | 886.9 | 655.4 | 106.1 | 78.4 | 4.9 | 3.6 | 47.4 | 35 | ' | ' | ' | ' | ' | ' | |||||||||||||
Unused borrowing capacity | ' | 1,415.70 | [4] | ' | 40.6 | [4] | ' | 0 | [4] | ' | 0 | [4] | ' | 0 | [2],[4] | ' | 0 | [2],[4] | ' | 0 | [2],[4] | ' | 0 | [2],[4] | ' | 0 | [2],[4] | ' | 0 | [4] | ' | ' | ' | 0 | [4] | ' | 0 | [4] | ' | ' | 0 | [4] | ' | ' | ' | 1,375.10 | [4] | ' | 0 | [4] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43.2 | 31.9 | 151.8 | 112.2 | 1,223.30 | 904 | |||||||||||||
Prepayment Fee Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||
Interest rate | 5.25% | ' | ' | ' | ' | ' | ' | ' | ' | 7.63% | [2] | 7.63% | [2] | 6.38% | [2] | 6.38% | [2] | 6.63% | [2] | 6.63% | [2] | 7.25% | [2] | 7.25% | [2] | 6.88% | [2] | 6.88% | [2] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Description of variable rate basis | ' | ' | ' | 'EURIBOR | 'EURIBOR | 'EURIBOR | 'EURIBOR | 'EURIBOR | 'EURIBOR | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'EURIBOR | 'EURIBOR | ' | ' | 'LIBOR | [5] | 'LIBOR | [5] | 'EURIBOR | 'EURIBOR | ' | 'LIBOR | [5] | 'LIBOR | [5] | ' | ' | 'EURIBOR | 'EURIBOR | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Basis spread on variable rate | ' | ' | ' | 2.75% | 2.75% | 3.25% | 3.25% | 3.75% | 3.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.75% | 3.75% | ' | ' | 3.00% | [5] | 3.00% | [5] | 3.75% | 3.75% | ' | 2.50% | [5] | 2.50% | [5] | ' | ' | 3.25% | 3.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Gains (losses) on extinguishment of debt | 85.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||
Third-party costs in the extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||
Write-off deferred financing costs and an unamortized discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||
Unused borrowing capacity considering limitations | ' | 494.6 | 365.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.2 | 585 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||
Unused borrowing capacity, considering limitations, after compliance reporting requirements | ' | $585 | € 432.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||
Fee on unused portion of credit facility | ' | ' | ' | 0.75% | 0.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.30% | 1.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||
LIBOR floor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 1.00% | ' | ' | ' | 0.75% | 0.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||
[1] | Except as described in (d) below, amounts represent total third-party facility amounts at SeptemberB 30, 2013 without giving effect to the impact of discounts. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | The UPCB SPE Notes were issued by certain special purpose entities (the UPCB SPEs) that were created for the primary purpose of facilitating the offering of certain senior secured notes (the UPCB SPE Notes). The proceeds from the UPCB SPE Notes were used to fund additional Facilities V, Y, Z, AC and AD (each a UPCB Funded Facility), with UPC Financing as the borrower. Each UPCB SPE is dependent on payments from UPC Financing under the applicable UPCB Funded Facility in order to service its payment obligations under its UPCB SPE Notes. Although UPC Financing has no equity or voting interest in any of the UPCB SPEs, each of the UPCB Funded Facility loans creates a variable interest in the respective UPCB SPE for which UPC Financing is the primary beneficiary, as contemplated by GAAP. As such, UPC Financing and its parent entities, including UPC Holding and Liberty Global, are required by the provisions of GAAP to consolidate the UPCB SPEs. As a result, the amounts outstanding under Facilities V, Y, Z, AC and AD are eliminated in our condensed consolidated financial statements. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | The carrying values of Facilities AF, AG, and AH include the impact of discounts. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | At SeptemberB 30, 2013, our availability was limited to €365.5 million ($494.6 million). When the relevant SeptemberB 30, 2013 compliance reporting requirements have been completed and assuming no changes from SeptemberB 30, 2013 borrowing levels, we anticipate that our availability will be limited to €432.3 million ($585.0 million). Facility Q and Facility AI have commitment fees on unused and uncancelled balances of 0.75% and 1.3% per year, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[5] | Facilities AF and AH have LIBOR floors of 1.00% and 0.75%, respectively. |
Debt_and_Capital_Lease_Obligat8
Debt and Capital Lease Obligations (UPC Holding Senior Notes) (Details) | 9 Months Ended | 9 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Mar. 26, 2013 | Mar. 26, 2013 | Mar. 26, 2013 | Mar. 26, 2013 | Apr. 25, 2013 | Apr. 25, 2013 | Apr. 25, 2013 | Apr. 25, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
USD ($) | UPC Holding 6.75% Euro Senior Notes [Member] | UPC Holding 6.75% Euro Senior Notes [Member] | UPC Holding 6.75% CHF Senior Notes [Member] | UPC Holding 6.75% CHF Senior Notes [Member] | UPC Holding 8.0% Senior Notes [Member] | UPC Holding 8.0% Senior Notes [Member] | UPC Holding 9.75% Senior Notes [Member] | UPC Holding 9.75% Senior Notes [Member] | UPC Holding Senior Notes | UPC Holding 6.75% Senior Notes | UPC Holding | UPC Holding | |
USD ($) | EUR (€) | USD ($) | CHF | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | |||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding principal amount | ' | $608.90 | € 450 | $387 | 350 | $406 | € 300 | $541.30 | € 400 | ' | ' | ' | ' |
Interest rate | 5.25% | 6.75% | 6.75% | 6.75% | 6.75% | 8.00% | 8.00% | 9.75% | 9.75% | ' | ' | ' | ' |
Gains (losses) on extinguishment of debt | 85.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments for debt redemption premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.6 | ' | ' | ' |
Write off of unamortized discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24.5 | ' | ' | ' |
Write off deferred financing costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19 | ' | ' | ' |
Interest costs incurred | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.4 | ' | ' | ' |
Debt threshhold default in excess of which triggers event of default for aggregate debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $67.70 | € 50 |
Percentage of aggregate debt instruments outstanding subject to redemption | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | ' | ' |
Additional basis points on discount rate used to calculate redemption premium on debt instrument | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | ' | ' |
Debt instrument redemption percent of principal amount outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 106.75% | ' | ' |
Repurchase price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.00% | ' | ' |
2018 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 103.38% | ' | ' |
2019 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 102.25% | ' | ' |
2020 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.13% | ' | ' |
2021 and thereafter | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' |
Debt_and_Capital_Lease_Obligat9
Debt and Capital Lease Obligations (UnityMedia KabelBW Notes, Ziggo Margin Loan, and Non-Cash Refinancing Transactions) (Details) | Sep. 30, 2013 | Sep. 30, 2013 | Apr. 16, 2013 | Apr. 16, 2013 | Jul. 25, 2013 | 3-May-13 | Apr. 24, 2013 | Apr. 26, 2013 | Apr. 26, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 |
In Millions, except Share data, unless otherwise specified | April 2013 UM Senior Secured Notes | April 2013 UM Senior Secured Notes | April 2013 UM Senior Secured Notes | Ziggo Margin Loan | Ziggo Margin Loan | Ziggo Margin Loan | Ziggo Margin Loan | Ziggo Margin Loan | Refinancing of Debt [Member] | Refinancing of Debt [Member] | Virgin Media Acquisition [Member] | |
USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | ||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding principal amount | ' | ' | $473.60 | € 350 | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate | 5.25% | ' | 5.63% | 5.63% | ' | ' | ' | ' | ' | ' | ' | ' |
2018 | ' | 102.81% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2019 | ' | 101.88% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2020 | ' | 100.94% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2021 and thereafter | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of aggregate debt instruments outstanding subject to redemption | ' | 40.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument redemption percent of principal amount outstanding | ' | 105.63% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase price | ' | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Facility amount | ' | ' | ' | ' | ' | ' | ' | 48 | ' | ' | ' | ' |
Average daily trading volume term | ' | ' | ' | ' | ' | ' | ' | '30 days | '30 days | ' | ' | ' |
Maximum percent of borrowings available to purchase shares | ' | ' | ' | ' | ' | ' | ' | 65.00% | 65.00% | ' | ' | ' |
Description of variable rate basis | ' | ' | ' | ' | ' | ' | 'EURIBOR | ' | ' | ' | ' | ' |
Basis spread on variable rate | ' | ' | ' | ' | ' | ' | ' | 2.85% | 2.85% | ' | ' | ' |
Loan to value ratio | ' | ' | ' | ' | ' | ' | ' | 80.00% | 80.00% | ' | ' | ' |
Carrying value | ' | ' | ' | ' | ' | ' | ' | 622.4 | 460 | ' | ' | ' |
Shares pledge | ' | ' | ' | ' | 2,000,000 | 25,300,000 | ' | ' | ' | ' | ' | ' |
Aggregate debt which resulted in non-cash borrowings and repayments | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,061.50 | 3,461.50 | ' |
Non-cash increase to debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,557.50 |
Additional basis points on discount rate used to calculate redemption premium on debt instrument | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recovered_Sheet1
Debt and Capital Lease Obligations (Maturities of Debt) (Schedule and Footnotes) (Details) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |||||
In Millions, unless otherwise specified | USD ($) | USD ($) | Virgin Media | UPC Holding | Unitymedia KabelBW | Telenet | Other | VTR Wireless Bank Facility | VTR Wireless Bank Facility | |||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CLP | ||||||||
Debt and Capital Lease Obligations [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Debt Instrument Unused Borrowing Capacity Amount Net Of Covenant Limitation | ' | ' | ' | ' | ' | ' | ' | $1.20 | 585 | |||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
2013 (remainder of year) | 240.9 | ' | 54.8 | 21.4 | [1] | 4.8 | 10 | [2] | 149.9 | [3] | ' | ' | ||
2014 | 378.6 | ' | 0 | 282.7 | [1] | 26.6 | 10 | [2] | 59.3 | [3] | ' | ' | ||
2015 | 347.9 | ' | 0 | 150.2 | [1] | 0 | 10 | [2] | 187.7 | [3] | ' | ' | ||
2016 | 2,329.80 | ' | 0 | 738.2 | [1] | 0 | 145.3 | [2] | 1,446.30 | [3] | ' | ' | ||
2017 | 2,303 | ' | 0 | 0 | [1] | 603.5 | 593.2 | [2] | 1,106.30 | [3] | ' | ' | ||
2018 | 3,412.10 | ' | 2,416 | 400 | [1] | 0 | 246.8 | [2] | 349.3 | [3] | ' | ' | ||
Thereafter | 32,973.40 | ' | 10,714.70 | 11,588.60 | [1] | 6,896.10 | 3,774 | [2] | 0 | [3] | ' | ' | ||
Total debt maturities | 41,985.70 | ' | 13,185.50 | 13,181.10 | [1] | 7,531 | 4,789.30 | [2] | 3,298.80 | [3] | ' | ' | ||
Unamortized premium (discount) | 163.6 | ' | 225.6 | -43.5 | [1] | -10.7 | 1.3 | [2] | -9.1 | [3] | ' | ' | ||
Total debt | 42,149.30 | [4] | 26,134.90 | [4] | 13,411.10 | 13,137.60 | [1] | 7,520.30 | 4,790.60 | [2] | 3,289.70 | [3] | ' | ' |
Current portion | 609.5 | ' | 57.7 | 304.1 | [1] | 31.4 | 10 | [2] | 206.3 | [3] | ' | ' | ||
Noncurrent portion | 41,539.80 | ' | 13,353.40 | 12,833.50 | [1] | 7,488.90 | 4,780.60 | [2] | 3,083.40 | [3] | ' | ' | ||
Carrying value | ' | ' | ' | ' | ' | ' | ' | $117.70 | 59,400 | |||||
[1] | Amounts include the UPCB SPE Notes issued by the UPCB SPEs. As described above, the UPCB SPEs are consolidated by UPC Holding. | |||||||||||||
[2] | Amounts include the Telenet SPE Notes that were issued by certain special purpose entities (the Telenet SPEs) that were created for the primary purposes of facilitating the offering of certain senior secured notes (the Telenet SPE Notes). The proceeds from the Telenet SPE Notes were used to fund additional Telenet Facilities M, N, O, P, U and V (each a SPE Funded Facility), with Telenet International as the borrower. Each Telenet SPE is dependent on payments from Telenet International under the applicable SPE Funded Facility in order to service its payment obligations under its Telenet SPE Notes. Although Telenet International has no equity or voting interest in any of the Telenet SPEs, each of the SPE Funded Facility loans creates a variable interest in the respective Telenet SPE for which Telenet International is the primary beneficiary, as contemplated by GAAP. As such, Telenet International and its parent entities, including Telenet and Liberty Global, are required by the provisions of GAAP to consolidate the Telenet SPEs. | |||||||||||||
[3] | As further described in note 6, we have reflected the CLP 59.4 billion ($117.7 million) principal amount due under the VTR Wireless Bank Facility in the current portion of debt and capital lease obligations in our condensed consolidated balance sheet as of SeptemberB 30, 2013. | |||||||||||||
[4] | Amounts include the impact of premiums and discounts, where applicable. |
Recovered_Sheet2
Debt and Capital Lease Obligations (Maturities of Capital Lease Obligations) (Schedule) (Details) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Debt Instrument [Line Items] | ' |
2013 (remainder of year) | $112.70 |
2014 | 331 |
2015 | 287.8 |
2016 | 234.7 |
2017 | 181 |
2018 | 165.5 |
Thereafter | 1,709.60 |
Total principal and interest payments | 3,022.30 |
Amounts representing interest | -1,169.90 |
Present value of net minimum lease payments | 1,852.40 |
Current portion | 244.6 |
Noncurrent portion | 1,607.80 |
Unitymedia KabelBW | ' |
Debt Instrument [Line Items] | ' |
2013 (remainder of year) | 24.9 |
2014 | 99.4 |
2015 | 99.2 |
2016 | 99.2 |
2017 | 99.2 |
2018 | 99.2 |
Thereafter | 1,179.40 |
Total principal and interest payments | 1,700.50 |
Amounts representing interest | -759.5 |
Present value of net minimum lease payments | 941 |
Current portion | 27.9 |
Noncurrent portion | 913.1 |
Telenet | ' |
Debt Instrument [Line Items] | ' |
2013 (remainder of year) | 17.7 |
2014 | 68 |
2015 | 65 |
2016 | 63.4 |
2017 | 61.7 |
2018 | 58.3 |
Thereafter | 267.9 |
Total principal and interest payments | 602 |
Amounts representing interest | -160.1 |
Present value of net minimum lease payments | 441.9 |
Current portion | 49 |
Noncurrent portion | 392.9 |
Virgin Media | ' |
Debt Instrument [Line Items] | ' |
2013 (remainder of year) | 62 |
2014 | 150.3 |
2015 | 107.5 |
2016 | 58.6 |
2017 | 12.9 |
2018 | 4.5 |
Thereafter | 235.3 |
Total principal and interest payments | 631.1 |
Amounts representing interest | -228.8 |
Present value of net minimum lease payments | 402.3 |
Current portion | 153.7 |
Noncurrent portion | 248.6 |
Other | ' |
Debt Instrument [Line Items] | ' |
2013 (remainder of year) | 8.1 |
2014 | 13.3 |
2015 | 16.1 |
2016 | 13.5 |
2017 | 7.2 |
2018 | 3.5 |
Thereafter | 27 |
Total principal and interest payments | 88.7 |
Amounts representing interest | -21.5 |
Present value of net minimum lease payments | 67.2 |
Current portion | 14 |
Noncurrent portion | $53.20 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 9 Months Ended | 3 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | |
Virgin Media | U.K. Tax Expected April 2014 [Member] | U.K. Tax Expected April 2015 [Member] | ||
Income Tax Contingency [Line Items] | ' | ' | ' | ' |
U.S. Federal Income Tax Rate | 35.00% | ' | ' | ' |
U.K. Statutory Income Tax Rate | 23.00% | ' | 21.00% | 20.00% |
Net Operating Losses From Deductions Of Stock Based Compensation Excluded From Recorded Deferred Tax Assets | $154,200,000 | ' | ' | ' |
Amount on Which Future Tax Deductions Can Be Claimed | ' | 21,600,000,000 | ' | ' |
Maximum Percent of Capital Allowances Claimed Allowance | ' | 18.00% | ' | ' |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 341,900,000 | ' | ' | ' |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Estimated Range of Change, Lower Bound | 20,000,000 | ' | ' | ' |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Estimated Range of Change, Upper Bound | $30,000,000 | ' | ' | ' |
Income_Taxes_Reconciliation_of
Income Taxes (Reconciliation of Federal to Effective Taxes) (Schedule) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Accrued Income Taxes [Abstract] | ' | ' | ' | ' | ||||
Computed bexpectedb tax benefit (expense) (a) | $136.30 | [1] | ($19.40) | [1] | $79.50 | [1] | $50.30 | [1] |
Enacted tax law and rate changes (b) | -371 | [2] | 9.8 | [2] | -379.7 | [2] | 9.6 | [2] |
Change in subsidiary tax attributes due to a deemed change in control | 6.7 | 0 | -84.7 | 0 | ||||
Non-deductible or non-taxable interest and other expenses | -1.7 | -19.8 | -84.4 | -56.7 | ||||
International rate differences (c) | 8.7 | [3] | 2.1 | [3] | 51.1 | [3] | -17 | [3] |
Tax effect of intercompany financing | 33.8 | 0 | 41.2 | 0 | ||||
Non-deductible or non-taxable foreign currency exchange results | -39.6 | 0.7 | -29.4 | -0.9 | ||||
Basis and other differences in the treatment of items associated with investments in subsidiaries and affiliates | 1.6 | -21.5 | -27.6 | -27.5 | ||||
Change in valuation allowances | -19.8 | -11 | -20.3 | -54.3 | ||||
Other, net | 16.2 | -2 | 9.1 | -9.5 | ||||
Total | ($228.80) | ($61.10) | ($445.20) | ($106) | ||||
[1] | As a result of the Virgin Media Acquisition, pursuant to which Liberty Global became the publicly-held parent company of the successors by merger of LGI and Virgin Media, our statutory tax rate changed from the U.S. federal income tax rate of 35% to the U.K. statutory income tax rate of 23%. Accordingly, the statutory or bexpectedb tax rates are 23% for the 2013 periods and 35% for the 2012 periods. | |||||||
[2] | During the first quarter of 2013, it was announced that the U.K. corporate income tax rate will change to 21% in April 2014 and 20% in April 2015. This change in law was enacted in July 2013, and accordingly, amounts presented for the 2013 periods reflect the impact of these future rate changes. | |||||||
[3] | Amounts reflect statutory rates in jurisdictions in which we operate outside of the U.K. for the 2013 periods and outside of the U.S. for the 2012 periods. |
Income_Taxes_Summary_of_Tax_Lo
Income Taxes (Summary of Tax Loss Carryforwards) (Details) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Operating Loss Carryforwards [Line Items] | ' |
Tax loss carryforward | $33,537.10 |
Related tax asset | 7,203.40 |
U.K. | ' |
Operating Loss Carryforwards [Line Items] | ' |
Tax loss carryforward | 22,329.20 |
Related tax asset | 4,465.80 |
Germany | ' |
Operating Loss Carryforwards [Line Items] | ' |
Tax loss carryforward | 3,052.90 |
Related tax asset | 481 |
The Netherlands | ' |
Operating Loss Carryforwards [Line Items] | ' |
Tax loss carryforward | 2,960.60 |
Related tax asset | 740.2 |
U.S. | ' |
Operating Loss Carryforwards [Line Items] | ' |
Tax loss carryforward | 1,805.90 |
Related tax asset | 632.7 |
Luxembourg | ' |
Operating Loss Carryforwards [Line Items] | ' |
Tax loss carryforward | 1,062.60 |
Related tax asset | 310.5 |
France | ' |
Operating Loss Carryforwards [Line Items] | ' |
Tax loss carryforward | 658.1 |
Related tax asset | 226.6 |
Ireland | ' |
Operating Loss Carryforwards [Line Items] | ' |
Tax loss carryforward | 542.1 |
Related tax asset | 67.8 |
Belgium | ' |
Operating Loss Carryforwards [Line Items] | ' |
Tax loss carryforward | 340.9 |
Related tax asset | 115.9 |
Hungary | ' |
Operating Loss Carryforwards [Line Items] | ' |
Tax loss carryforward | 321.1 |
Related tax asset | 61 |
Chile | ' |
Operating Loss Carryforwards [Line Items] | ' |
Tax loss carryforward | 270.2 |
Related tax asset | 54 |
Romania | ' |
Operating Loss Carryforwards [Line Items] | ' |
Tax loss carryforward | 83.6 |
Related tax asset | 13.4 |
Puerto Rico | ' |
Operating Loss Carryforwards [Line Items] | ' |
Tax loss carryforward | 51.6 |
Related tax asset | 20.1 |
Spain | ' |
Operating Loss Carryforwards [Line Items] | ' |
Tax loss carryforward | 20.3 |
Related tax asset | 6.1 |
Other | ' |
Operating Loss Carryforwards [Line Items] | ' |
Tax loss carryforward | 38 |
Related tax asset | $8.30 |
Income_Taxes_Schedule_of_Unrec
Income Taxes (Schedule of Unrecognized Tax Benefits) (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ' | ' |
Balance at January 1 | $359.70 | $400.60 |
Additions based on tax positions related to the current year | 80.9 | 9.1 |
Additions for tax positions of prior years | 45.8 | 5 |
Reductions for tax positions of prior years | -10.1 | -107.1 |
Foreign currency translation | 4.6 | 0.7 |
Lapse of statue of limitations | -0.9 | -0.6 |
Balance at September 30 | $480 | $307.70 |
Equity_Details
Equity (Details) | 0 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 9 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | 3 Months Ended | 0 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | ||||||||||||||||||||||||||||||||||
Jun. 11, 2013 | Sep. 30, 2013 | Jun. 19, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | 8-May-13 | 8-May-13 | Sep. 30, 2013 | Apr. 24, 2013 | Apr. 24, 2013 | Oct. 12, 2012 | Oct. 12, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 12, 2013 | Sep. 12, 2013 | Feb. 06, 2013 | Feb. 06, 2013 | 8-May-13 | 8-May-13 | Sep. 12, 2013 | Sep. 12, 2013 | Feb. 06, 2013 | Feb. 06, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Jun. 20, 2013 | Mar. 31, 2013 | Jun. 20, 2013 | Jun. 20, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Feb. 01, 2013 | Feb. 01, 2013 | Apr. 24, 2013 | Apr. 24, 2013 | Oct. 12, 2012 | Oct. 12, 2012 | Sep. 30, 2013 | Jun. 07, 2013 | Jun. 07, 2013 | Sep. 30, 2013 | Jun. 07, 2013 | Sep. 30, 2013 | |
USD ($) | USD ($) | USD ($) | LGI Convertible Notes Debt [Member] | LGI Convertible Notes Debt [Member] | LGI Convertible Notes Debt [Member] | Telenet | Telenet | Telenet | Telenet | Telenet | Telenet | Telenet | VTR [Member] | VTR [Member] | VTR [Member] | VTR [Member] | VTR [Member] | VTR [Member] | Noncontrolling Interest [Member] | Noncontrolling Interest [Member] | Noncontrolling Interest [Member] | Noncontrolling Interest [Member] | Noncontrolling Interest [Member] | Noncontrolling Interest [Member] | Call Options Written [Member] | Call Options Written [Member] | Call Options Written [Member] | Purchased Call Option [Member] | Purchased Call Option [Member] | Call Option [Member] | Call Option [Member] | Call Option [Member] | Call Option [Member] | Call Option [Member] | Contracts Settled [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Telenet Self-Tender [Member] | Telenet Self-Tender [Member] | Telenet Share Repurchase Agreement [Member] | Telenet Share Repurchase Agreement [Member] | Line of Credit [Member] | Line of Credit [Member] | Virgin Media Acquisition [Member] | Virgin Media Acquisition [Member] | Virgin Media Acquisition [Member] | Virgin Media Acquisition [Member] | Virgin Media Acquisition [Member] | Virgin Media Acquisition [Member] | |
USD ($) | Series A Common Stock [Member] | Series C Common Stock [Member] | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | CLP | USD ($) | CLP | USD ($) | CLP | Telenet | Telenet | VTR [Member] | VTR [Member] | VTR [Member] | VTR [Member] | Series A Common Stock [Member] | Series A Common Stock [Member] | Class A and Class C Ordinary Shares [Member] | Series A Common Stock [Member] | Class A Ordinary Shares [Member] | USD ($) | USD ($) | USD ($) | Series A Common Stock [Member] | Class A Ordinary Shares [Member] | Call Options Written [Member] | Call Options Written [Member] | Call Options Written [Member] | Call Options Written [Member] | USD ($) | EUR (€) | Telenet | Telenet | Telnet TO Facility [Member] | Telnet TO Facility [Member] | Liberty Global JSOP [Member] | Liberty Global JSOP [Member] | Liberty Global JSOP [Member] | Liberty Global JSOP [Member] | Liberty Global JSOP [Member] | Liberty Global JSOP [Member] | ||||||
USD ($) | USD ($) | USD ($) | EUR (€) | USD ($) | CLP | USD ($) | CLP | USD ($) | USD ($) | USD ($) | Series A Common Stock [Member] | Series A Common Stock [Member] | Series A Common Stock [Member] | Series A Common Stock [Member] | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | USD ($) | Class A Ordinary Shares [Member] | Class A Ordinary Shares [Member] | Class C Ordinary Shares [Member] | Class C Ordinary Shares [Member] | ||||||||||||||||||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | |||||||||||||||||||||||||||||||||||||||||||||||||
Shares purchased pursuant to repurchase programs (in shares) | ' | ' | ' | ' | 5,606,930 | 6,387,900 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,497,637 | 9,497,637 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average price paid per share pursuant to repurchase programs (in dollars per share) | ' | ' | ' | ' | $73.15 | $71.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total cost for stock purchased pursuant to repurchase programs | ' | ' | ' | $867,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributable reserves recognized | ' | ' | 29,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock repurchase authorized amount | 3,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67,700,000 | 50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining amount authorized under the stock repurchase program | ' | 2,804,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Call options (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,150,915 | 1,000,000 | 1,512,000 | ' | ' | ' | ' | ' | 400,000 | ' | 2,160,208 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Call options, exercise price (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $100 | $0 | $0 | ' | ' | ' | ' | ' | ' | $69.66 | $64.56 | $81.71 | $70.33 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Call option contracts | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 106,900,000 | 234,000,000 | 66,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from call option contracts | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributable reserves, derivative asset | ' | ' | 102,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributable reserves, losses realized | ' | ' | 4,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Settlement in cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 131,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Settlement in shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 377,930 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consideration in shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 155,719 | 67,283 | 116,277 | 50,328 |
Consideration in cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000 | 10,600,000 | ' | ' | ' | ' |
Restricted cash and investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,464,100,000 | 1,142,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Facility amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,251,700,000 | 925,000,000 | ' | ' | ' | ' | ' | ' |
Percentage ownership in subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 57.80% | ' | ' | ' | ' | 80.00% | 80.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 58.40% | 58.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Bid warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000 | 3,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Use of restricted cash to fund transaction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 454,500,000 | 332,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Approved capital distribution (in dollars and euros per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | $10.69 | € 7.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital distribution payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,217,900,000 | 900,000,000 | ' | ' | ' | ' | 57,600,000 | 29,000,000,000 | 105,800,000 | 50,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital distribution from subsidiary receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,500,000 | 5,800,000,000 | 21,200,000 | 10,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership percentage by other noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from distribution | ' | ' | ' | ' | ' | ' | 690,300,000 | 524,100,000 | ' | ' | ' | ' | ' | 101,400,000 | 49,500,000,000 | ' | ' | ' | ' | 502,200,000 | 381,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from contributions from parent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 63,900,000 | 30,800,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16,000,000 | 7,700,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sharebased_Compensation_Summar
Share-based Compensation (Summary Of Stock-Based Compensation) (Schedule) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||||||||||||
Liberty Global [Member] | Liberty Global [Member] | Liberty Global [Member] | Liberty Global [Member] | Telenet | Telenet | Operating expense | Operating expense | Operating expense | Operating expense | SG&A expense | SG&A expense | SG&A expense | SG&A expense | Performance-based incentive awards | Performance-based incentive awards | Performance-based incentive awards | Performance-based incentive awards | Other share-based incentive awards | Other share-based incentive awards | Other share-based incentive awards | Other share-based incentive awards | Telenet share-based incentive awards | Telenet share-based incentive awards | Telenet share-based incentive awards | Telenet share-based incentive awards | Other | Other | Other | Other | Continuing Operations [Member] | Continuing Operations [Member] | Continuing Operations [Member] | Continuing Operations [Member] | |||||||||||||||||||
Liberty Global [Member] | Liberty Global [Member] | Liberty Global [Member] | Liberty Global [Member] | Liberty Global [Member] | Liberty Global [Member] | Liberty Global [Member] | Liberty Global [Member] | Telenet | Telenet | Telenet | Telenet | |||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Stock-based compensation expense | $98.70 | $27.20 | $219.40 | $90.50 | $91.70 | [1] | $22.50 | [1] | $164.60 | [1] | $63.70 | [1] | $32.70 | [1] | $12.60 | [1] | $0.80 | $1.10 | $10.70 | $6.30 | $97.90 | $26.10 | $208.70 | $84.20 | $12.60 | [2] | $11.10 | [2] | $24.50 | [2] | $29.50 | [2] | $79.10 | $11.40 | $140.10 | $34.20 | $4.90 | [3] | $4.40 | [3] | $52.40 | [3] | $25.20 | [3] | $2.10 | $0.30 | $2.40 | $1.60 | $98.70 | $27.20 | $219.40 | $90.50 |
[1] | In accordance with the terms of the Virgin Media Merger Agreement, we issued Liberty Global share-based incentive awards (Virgin Media Replacement Awards) to employees and former directors of Virgin Media in exchange for corresponding Virgin Media awards. In connection with the Virgin Media Acquisition, the Virgin Media Replacement Awards were remeasured as of JuneB 7, 2013, resulting in an aggregate estimated fair value attributable to the post-acquisition period of $188.5 million. During the second and third quarters of 2013, Virgin Media recorded share-based compensation expense of $35.9 million and $61.6 million, respectively, primarily related to the Virgin Media Replacement Awards, including $27.5 million and $35.4 million, respectively, that was charged to expense in recognition of the Virgin Media Replacement Awards that were fully vested on JuneB 7, 2013 or for which vesting was accelerated pursuant to the terms of the Virgin Media Merger Agreement on or prior to September 30, 2013. The remaining JuneB 7, 2013 estimated fair value will be amortized over the remaining service periods of the unvested Virgin Media Replacement Awards, subject to forfeitures and the satisfaction of performance conditions. | |||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Primarily includes share-based compensation expense related to Liberty Global performance-based restricted share units (PSUs). | |||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | During the second quarters of 2013 and 2012, Telenet modified the terms of certain of its share-based incentive plans to provide for anti-dilution adjustments in connection with its shareholder returns. In connection with these anti-dilution adjustments, Telenet recognized share-based compensation expense of $32.7 million and $12.6 million, respectively. In addition, during the first quarter of 2013, Telenet recognized expense of $6.2 million related to the accelerated vesting of options granted under the Telenet 2010 Specific Stock Option Plan, as further described below. |
Sharebased_Compensation_Narrat
Share-based Compensation (Narrative) (Details) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 18, 2013 | Sep. 30, 2013 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Jun. 07, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jun. 24, 2013 | Sep. 30, 2013 | Jun. 19, 2013 | Jun. 19, 2013 | Jun. 24, 2013 | Jun. 24, 2013 | Sep. 30, 2013 | Jun. 24, 2013 | Jun. 24, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Mar. 31, 2013 | Sep. 30, 2013 | Jul. 31, 2013 | Jul. 31, 2013 | Jul. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | ||||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | Series A and Series C Common Stock [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Operating expense | Operating expense | Operating expense | Operating expense | LGI Incentive Plan [Member] | Performance Share Units (PSUs) [Member] | Performance Share Units (PSUs) [Member] | Performance Share Units (PSUs) [Member] | Performance Share Units (PSUs) [Member] | Performance Share Units (PSUs) [Member] | Performance Share Units (PSUs) [Member] | Performance Stock Appreciation Rights (PSARs) [Member] | Performance Stock Appreciation Rights (PSARs) [Member] | Performance Stock Appreciation Rights (PSARs) [Member] | Performance Stock Appreciation Rights (PSARs) [Member] | Performance Stock Appreciation Rights (PSARs) [Member] | Performance Stock Appreciation Rights (PSARs) [Member] | Performance-Based Restricted Share Units (PSU) [Member] | Performance-Based Restricted Share Units (PSU) [Member] | Performance-Based Restricted Share Units (PSU) [Member] | Performance-Based Restricted Share Units (PSU) [Member] | Performance-Based Restricted Share Units (PSU) [Member] | Performance-Based Restricted Share Units (PSU) [Member] | Performance-Based Restricted Share Units (PSU) [Member] | Performance-Based Restricted Share Units (PSU) [Member] | Performance-Based Restricted Share Units (PSU) [Member] | Performance-Based Restricted Share Units (PSU) [Member] | Restricted Stock [Member] | Stock Appreciation Rights (SARs) [Member] | Stock Appreciation Rights (SARs) [Member] | Stock Appreciation Rights (SARs) [Member] | Stock Appreciation Rights (SARs) [Member] | Stock Appreciation Rights (SARs) [Member] | Stock Appreciation Rights (SARs) [Member] | Virgin Media Replacement Awards [Member] | Virgin Media Replacement Awards [Member] | Virgin Media Replacement Awards [Member] | VMI Incentive Plan [Member] | VMI Incentive Plan [Member] | VMI Incentive Plan [Member] | LGI Incentive Plan [Member] | LGI Director Incentive Plan [Member] | Challenge Performance Awards [Member] | Challenge Performance Awards [Member] | Challenge Performance Awards [Member] | Challenge Performance Awards [Member] | Challenge Performance Awards [Member] | Challenge Performance Awards [Member] | Challenge Performance Awards [Member] | Challenge Performance Awards [Member] | Challenge Performance Awards [Member] | Virgin Media Sharesave Plan [Member] | Virgin Media Sharesave Plan [Member] | Liberty Global [Member] | Liberty Global [Member] | Liberty Global [Member] | Liberty Global [Member] | Liberty Global [Member] | Liberty Global [Member] | Telenet | Telenet | Telenet | Telenet | Telenet | Telenet | Telenet | Telenet | Telenet | Telenet | Telenet | Virgin Media | Virgin Media | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |||||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | Class B Ordinary Shares [Member] | USD ($) | USD ($) | Class A Ordinary Shares [Member] | Class A Ordinary Shares [Member] | Class C Ordinary Shares [Member] | Class C Ordinary Shares [Member] | USD ($) | USD ($) | Class A Ordinary Shares [Member] | Class A Ordinary Shares [Member] | Class C Ordinary Shares [Member] | Class C Ordinary Shares [Member] | Series A Common Stock [Member] | Series A Common Stock [Member] | Series C Common Stock [Member] | Series C Common Stock [Member] | Minimum [Member] | Maximum [Member] | USD ($) | USD ($) | Class A Ordinary Shares [Member] | Class A Ordinary Shares [Member] | Class C Ordinary Shares [Member] | Class C Ordinary Shares [Member] | USD ($) | Operating expense | Operating expense | Performance Share Units (PSUs) [Member] | Performance Share Units (PSUs) [Member] | Performance Share Units (PSUs) [Member] | Performance Share Units (PSUs) [Member] | Performance Stock Appreciation Rights (PSARs) [Member] | Performance Stock Appreciation Rights (PSARs) [Member] | Performance Stock Appreciation Rights (PSARs) [Member] | Performance Stock Appreciation Rights (PSARs) [Member] | USD ($) | USD ($) | USD ($) | USD ($) | Virgin Media Replacement Awards [Member] | Virgin Media Replacement Awards [Member] | USD ($) | USD ($) | USD ($) | EUR (€) | Employee Stock Warrant Plans [Member] | Employee Stock Warrant Plans [Member] | Specific Stock Option Plan [Member] | Specific Stock Option Plan [Member] | Telenet 2013 Employee Stock Option Plan [Member] | Telenet 2013 Employee Stock Option Plan [Member] | Telenet 2013 Employee Stock Option Plan [Member] | Performance-Based Restricted Share Units (PSU) [Member] | Performance-Based Restricted Share Units (PSU) [Member] | Telenet | Telenet | Telenet | Telenet | Telenet | Telenet | |||||||||||||||||||||||||||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Class A Ordinary Shares [Member] | Class C Ordinary Shares [Member] | Executive Officers and Key Employees [Member] | Senior Executive Officers [Member] | Executive Officers and Key Employees [Member] | USD ($) | USD ($) | EUR (€) | USD ($) | EUR (€) | First Four Quarters [Member] | After Four Quarters [Member] | Series A Common Stock [Member] | Series C Common Stock [Member] | Telenet 2013 Specific Stock Option Plan [Member] | Telenet 2013 Specific Stock Option Plan [Member] | Telenet 2013 Specific Stock Option Plan [Member] | Telenet 2013 Specific Stock Option Plan [Member] | Telenet 2013 Specific Stock Option Plan [Member] | Telenet 2013 Specific Stock Option Plan [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
USD ($) | EUR (€) | July 4, 2014 [Member] | July 4, 2015 [Member] | July 4, 2016 [Member] | Chief Executive Officer [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Stock-based compensation expense | $98.70 | $27.20 | $219.40 | $90.50 | ' | ' | ' | ' | ' | $0.80 | $1.10 | $10.70 | $6.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $188.50 | $35.40 | $27.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $91.70 | [1] | $22.50 | [1] | $164.60 | [1] | $63.70 | [1] | $61.60 | $35.90 | $32.70 | [1] | $12.60 | [1] | ' | ' | ' | ' | $6.20 | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Maximum number of shares available under plan (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,603,628 | 195,475 | 8,815,685 | ' | ' | ' | ' | 269,450 | ' | ' | 3,475,000 | 2,422,500 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Number of ordinary shares rights for each performance share (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Percentage performance award may be reduced | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Percentage vested on June 24, 2016 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Term of award | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Market closing prices on grand date (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $69.88 | $50.18 | $71.97 | ' | $67.67 | ' | $16.62 | $0 | $69.77 | ' | $65.63 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16.71 | $14.36 | $74.35 | ' | $69.13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | € 34.33 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Instruments other than options granted in period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 579,634 | ' | 548,222 | ' | ' | ' | 2,896,250 | ' | 2,896,250 | ' | ' | ' | ' | ' | 307,278 | 513,268 | 307,278 | 513,268 | ' | ' | 173,622 | ' | ' | 1,229,616 | ' | 1,229,616 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 257,900 | ' | ' | ' | ' | 5,792,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 741,448 | ' | ' | ' | ' | ' | ' | 123,801 | 92,389 | ' | ' | ' | ' | ' | ' | ||||||||||||||
Exchange value of a PSU unit to a common stock | ' | ' | ' | ' | 'one | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Compound annual growth rate performance range as a percent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | 125.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Expected performance earnings for PSUs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | 150.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Percent of PSUs vested | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
OCF CAGR performance period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Instruments other than options vested in period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 236,810 | 173,612 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
CAGR for operating cash flow, actual | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.10% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Peformance plan percentage of total earned | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 91.00% | 93.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Instruments expected to vest in next six months (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 246,374 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Maximum ordinary shares available for single person grant in year (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,880,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Award vesting period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | ' | ' | ' | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Percent vested at 6 months after grant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Vesting rate each quarter | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.25% | ' | ' | ' | ' | 10.00% | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Other than options outstanding (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 991,409 | 759,585 | 961,947 | 759,585 | ' | ' | 2,896,250 | 0 | 2,896,250 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,364,495 | 3,761,337 | 4,338,593 | 3,786,754 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,811,878 | 3,185,709 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Exercise price (in dollars/euros per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $33.40 | ' | $32.61 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | € 11.18 | ' | ' | € 0 | ' | ' | ' | ' | ' | $46.45 | € 34.33 | ' | ' | ' | ' | ||||||||||||||
Expected volatility (a) | ' | ' | ' | ' | ' | 26.20% | [2] | 31.50% | [2] | 35.80% | [2] | 40.40% | [2] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Expected life (a) | ' | ' | ' | ' | ' | '2 years 9 months 18 days | [2] | '3 years 3 months 18 days | [2] | '7 years 1 month 6 days | [2] | '7 years 10 months 24 days | [2] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years 3 months 18 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Risk-free interest rate | ' | ' | ' | ' | ' | 0.36% | 0.37% | 1.27% | 1.68% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.33% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Granted (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 256,490 | [3] | 741,448 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | [3] | ||||||||||||
Granted (in dollars/euros per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $24.68 | € 18.24 | ' | ' | ' | € 20.27 | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||
Expected to vest based on performance criteria (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | [3] | 100,000 | 50,000 | ' | |||||||||||||
[1] | In accordance with the terms of the Virgin Media Merger Agreement, we issued Liberty Global share-based incentive awards (Virgin Media Replacement Awards) to employees and former directors of Virgin Media in exchange for corresponding Virgin Media awards. In connection with the Virgin Media Acquisition, the Virgin Media Replacement Awards were remeasured as of JuneB 7, 2013, resulting in an aggregate estimated fair value attributable to the post-acquisition period of $188.5 million. During the second and third quarters of 2013, Virgin Media recorded share-based compensation expense of $35.9 million and $61.6 million, respectively, primarily related to the Virgin Media Replacement Awards, including $27.5 million and $35.4 million, respectively, that was charged to expense in recognition of the Virgin Media Replacement Awards that were fully vested on JuneB 7, 2013 or for which vesting was accelerated pursuant to the terms of the Virgin Media Merger Agreement on or prior to September 30, 2013. The remaining JuneB 7, 2013 estimated fair value will be amortized over the remaining service periods of the unvested Virgin Media Replacement Awards, subject to forfeitures and the satisfaction of performance conditions. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | The ranges shown for these assumptions exclude the awards for certain former employees of Virgin Media who were expected to exercise their awards immediately or soon after the Virgin Media Acquisition. For these awards, the assumptions used for expected life and volatility were essentially nil. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | Represents the number of options for which the performance criteria was set during the three months ended March 31, 2013. The vesting of these options was accelerated to March 31, 2013 in connection with the resignation of Telenetbs former Chief Executive Officer. As a result of this accelerated vesting, Telenet recorded additional share-based compensation of $6.2 million during the first quarter of 2013. All of the vested options pursuant to the Telenet 2010 Specific Stock Option Plan become exercisable during defined exercise periods following January 1, 2014. The fair value of these options was calculated on the date that the performance criteria was set using an expected volatility of 23.3%, an expected life of 3.3 years, and a risk-free return of 0.33%. The grant date fair value of these options was €18.24 ($24.68). |
Sharebased_Compensation_Summar1
Share-based Compensation (Summary Of Stock-Based Compensation Not Yet Recognized) (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | |
Liberty Global ordinary shares | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |
Total compensation expense not yet recognized (in millions) | $196.50 | [1] |
Weighted average period remaining for expense recognition (in years) | '2 years 2 months 12 days | [1] |
Liberty Global performance-based awards | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |
Total compensation expense not yet recognized (in millions) | 133.4 | |
Weighted average period remaining for expense recognition (in years) | '2 years 4 months 24 days | |
Telenet common stock | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |
Total compensation expense not yet recognized (in millions) | $14.20 | [2] |
Weighted average period remaining for expense recognition (in years) | '2 years 2 months 12 days | [2] |
[1] | Amounts relate to awards granted or assumed by Liberty Global under (i) the Liberty Global, Inc. 2005 Incentive Plan (as amended and restated effective JuneB 7, 2013) (the Liberty Global Incentive Plan), (ii) the Liberty Global, Inc. 2005 Nonemployee Director Incentive Plan (as amended and restated effective JuneB 7, 2013) (the Liberty Global Director Incentive Plan), (iii) the Virgin Media Inc. 2010 Stock Incentive Plan (as amended and restated effective JuneB 7, 2013) (the VM Incentive Plan) and (iv) certain other incentive plans of Virgin Media pursuant to which awards may no longer be granted. The Liberty Global Incentive Plan had 195,475 shares available for grant as of SeptemberB 30, 2013 and the VM Incentive Plan had 11,603,628 shares available for grant as of SeptemberB 30, 2013. These shares may be awarded in any class of our ordinary shares. The Liberty Global Director Incentive Plan had 8,815,685 shares available for grant as of SeptemberB 30, 2013. These shares may be awarded in any class of our ordinary shares, except that no more than five million shares may be awarded in Class B ordinary shares. | |
[2] | Amounts relate to various equity incentive awards granted to employees of Telenet. |
Sharebased_Compensation_Summar2
Share-based Compensation (Summary of Stock Award Information) (Details) (USD $) | 9 Months Ended | |||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | ||
Assumptions used to estimate fair value of options, share appreciation rights (SARs) and performance-based share appreciation rights (PSARs) granted: | ' | ' | ||
Cash received from exercise of options (in millions) | $57.20 | $22.40 | ||
Income tax benefit related to share-based compensation (in millions) | 33.3 | 13.7 | ||
Stock Options [Member] | ' | ' | ||
Assumptions used to estimate fair value of options, share appreciation rights (SARs) and performance-based share appreciation rights (PSARs) granted: | ' | ' | ||
Weighted average grant-date fair value per share awards granted: | $22.19 | $20 | ||
Total intrinsic value of awards exercised (in millions): | 114.9 | 32.4 | ||
Stock Appreciation Rights (SARs) [Member] | ' | ' | ||
Assumptions used to estimate fair value of options, share appreciation rights (SARs) and performance-based share appreciation rights (PSARs) granted: | ' | ' | ||
Weighted average grant-date fair value per share awards granted: | $16.71 | $14.36 | ||
Total intrinsic value of awards exercised (in millions): | $59.60 | $38 | ||
Performance Stock Appreciation Rights (PSARs) [Member] | ' | ' | ||
Assumptions used to estimate fair value of options, share appreciation rights (SARs) and performance-based share appreciation rights (PSARs) granted: | ' | ' | ||
Weighted average grant-date fair value per share awards granted: | $16.62 | $0 | ||
Restricted Shares and Share Units [Member] | ' | ' | ||
Assumptions used to estimate fair value of options, share appreciation rights (SARs) and performance-based share appreciation rights (PSARs) granted: | ' | ' | ||
Weighted average grant-date fair value per share awards granted: | $71.47 | $49.10 | ||
Performance Share Units (PSUs) [Member] | ' | ' | ||
Assumptions used to estimate fair value of options, share appreciation rights (SARs) and performance-based share appreciation rights (PSARs) granted: | ' | ' | ||
Weighted average grant-date fair value per share awards granted: | $69.88 | $50.18 | ||
Minimum [Member] | ' | ' | ||
Assumptions used to estimate fair value of options, share appreciation rights (SARs) and performance-based share appreciation rights (PSARs) granted: | ' | ' | ||
Risk-free interest rate | 0.36% | 0.37% | ||
Expected life (a) | '2 years 9 months 18 days | [1] | '3 years 3 months 18 days | [1] |
Expected volatility (a) | 26.20% | [1] | 31.50% | [1] |
Maximum [Member] | ' | ' | ||
Assumptions used to estimate fair value of options, share appreciation rights (SARs) and performance-based share appreciation rights (PSARs) granted: | ' | ' | ||
Risk-free interest rate | 1.27% | 1.68% | ||
Expected life (a) | '7 years 1 month 6 days | [1] | '7 years 10 months 24 days | [1] |
Expected volatility (a) | 35.80% | [1] | 40.40% | [1] |
[1] | The ranges shown for these assumptions exclude the awards for certain former employees of Virgin Media who were expected to exercise their awards immediately or soon after the Virgin Media Acquisition. For these awards, the assumptions used for expected life and volatility were essentially nil. |
Sharebased_Compensation_Option
Share-based Compensation (Option Plans) (Details) | 9 Months Ended | ||||||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
Telenet | Telenet | Employee Stock Warrant Plans [Member] | Specific Stock Option Plan [Member] | Class A Ordinary Shares [Member] | Class C Ordinary Shares [Member] | ||
USD ($) | EUR (€) | Telenet | Telenet | Stock Options [Member] | Stock Options [Member] | ||
EUR (€) | EUR (€) | USD ($) | USD ($) | ||||
Number of shares | ' | ' | ' | ' | ' | ' | |
Outstanding at beginning of period (in shares) | ' | ' | ' | 833,594 | 804,617 | 842,771 | |
Virgin Media Replacement Awards (in shares) | ' | ' | ' | ' | 3,934,574 | 2,935,250 | |
Granted (in shares) | ' | ' | ' | 256,490 | [1] | 62,314 | 67,334 |
Cancelled (in shares) | ' | ' | ' | ' | -72,793 | -54,347 | |
Exercised (in shares) | ' | ' | ' | ' | -1,339,951 | -1,053,160 | |
Other period increase (decrease) - (in dollars/euros per share) | ' | ' | ' | 252,540 | ' | ' | |
Outstanding at end of period (in shares) | ' | ' | ' | 1,342,624 | 3,388,761 | 2,737,848 | |
Exercisable at end of period (in shares) | ' | ' | 1,535,385 | 0 | 1,785,646 | 1,507,738 | |
Weighted average exercise price | ' | ' | ' | ' | ' | ' | |
Options outstanding at beginning of period (in dollars/euros per share) | ' | ' | ' | € 18.66 | $25.90 | $24.59 | |
Virgin Media Replacement Awards (in dollars/euros per share) | ' | ' | ' | ' | $31.16 | $27.16 | |
Granted (in dollars/euros per share) | $24.68 | € 18.24 | ' | € 20.27 | [1] | $73.66 | $68.16 |
Cancelled (in dollars/euros per share) | ' | ' | ' | ' | $76.15 | $71.40 | |
Exercised (in dollars/euros per share) | ' | ' | ' | ' | $27.87 | $24.90 | |
Other period increase (decrease) - in shares | ' | ' | ' | -€ 3.58 | ' | ' | |
Options outstanding at end of period (in dollars/euros per share) | ' | ' | ' | € 15.46 | $31.52 | $27.81 | |
Exercisable at end of period (in dollars/euros per share) | ' | ' | € 11.18 | € 0 | $25.64 | $22.14 | |
Weighted average remaining contractual term, in years | ' | ' | ' | ' | ' | ' | |
Outstanding at end of period | ' | ' | ' | '3 years 10 months 24 days | '6 years 4 months 24 days | '6 years 2 months 12 days | |
Exercisable at end of period | ' | ' | '1 year 3 months 18 days | '0 years | '4 years 9 months 18 days | '4 years 8 months 12 days | |
Aggregate intrinsic value | ' | ' | ' | ' | ' | ' | |
Outstanding at end of period | ' | ' | ' | € 28.70 | $162 | $130.40 | |
Exercisable at end of period | ' | ' | € 39.30 | € 0 | $95.90 | $80.30 | |
[1] | Represents the number of options for which the performance criteria was set during the three months ended March 31, 2013. The vesting of these options was accelerated to March 31, 2013 in connection with the resignation of Telenetbs former Chief Executive Officer. As a result of this accelerated vesting, Telenet recorded additional share-based compensation of $6.2 million during the first quarter of 2013. All of the vested options pursuant to the Telenet 2010 Specific Stock Option Plan become exercisable during defined exercise periods following January 1, 2014. The fair value of these options was calculated on the date that the performance criteria was set using an expected volatility of 23.3%, an expected life of 3.3 years, and a risk-free return of 0.33%. The grant date fair value of these options was €18.24 ($24.68). |
Sharebased_Compensation_Other_
Share-based Compensation (Other than Options) (Details) | 9 Months Ended | |||||||||||||||||||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | ||
Stock Appreciation Rights (SARs) [Member] | Stock Appreciation Rights (SARs) [Member] | Performance Stock Appreciation Rights (PSARs) [Member] | Performance Stock Appreciation Rights (PSARs) [Member] | Restricted Shares and Share Units [Member] | Restricted Shares and Share Units [Member] | Performance Share Units (PSUs) [Member] | Performance Share Units (PSUs) [Member] | Employee Stock Warrant Plans [Member] | Telenet | Class A Ordinary Shares [Member] | Class A Ordinary Shares [Member] | Class A Ordinary Shares [Member] | Class A Ordinary Shares [Member] | Class C Ordinary Shares [Member] | Class C Ordinary Shares [Member] | Class C Ordinary Shares [Member] | Class C Ordinary Shares [Member] | |||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | Employee Stock Warrant Plans [Member] | Stock Appreciation Rights (SARs) [Member] | Performance Stock Appreciation Rights (PSARs) [Member] | Restricted Shares and Share Units [Member] | Performance Share Units (PSUs) [Member] | Stock Appreciation Rights (SARs) [Member] | Performance Stock Appreciation Rights (PSARs) [Member] | Restricted Shares and Share Units [Member] | Performance Share Units (PSUs) [Member] | |||
EUR (€) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Outstanding at beginning of period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,185,709 | 3,761,337 | 0 | 332,008 | 759,585 | 3,786,754 | 0 | 332,301 | 759,585 | ||
Virgin Media Replacement Awards (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 900,408 | [1] | ' | ' | ' | 671,923 | [1] | ' |
Granted (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 741,448 | 1,229,616 | 2,896,250 | 128,958 | 579,634 | 1,229,616 | 2,896,250 | 128,958 | 548,222 | ||
Forfeited (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7,725 | -27,288 | ' | -22,527 | -19,407 | -27,288 | ' | -19,064 | -17,457 | ||
Exercised (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,513,932 | -599,170 | ' | ' | ' | -650,489 | ' | ' | ' | ||
Other period increase (decrease) (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | -406,378 | ' | ' | -343,935 | -328,403 | ' | ' | -299,923 | -328,403 | ||
Outstanding at end of period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,811,878 | 4,364,495 | 2,896,250 | 994,912 | 991,409 | 4,338,593 | 2,896,250 | 814,195 | 961,947 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Outstanding at beginning of period (in dollars/euros per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | € 13.95 | $36.94 | $0 | $40.53 | $46.54 | $35.58 | $0 | $39.13 | $44.68 | ||
Virgin Media Replacement Awards (in dollars/euros per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $76.24 | [1] | ' | ' | ' | $71.51 | [1] | ' |
Granted (in dollars/euros per share) | $16.71 | $14.36 | $16.62 | $0 | $71.47 | $49.10 | $69.88 | $50.18 | ' | € 34.33 | $74.35 | $69.77 | $74.05 | $71.97 | $69.13 | $65.63 | $68.89 | $67.67 | ||
Forfeited (in dollars/euros per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | € 18.27 | $46.76 | ' | $64.40 | $54.81 | $44.90 | ' | $58.91 | $49.82 | ||
Exercised (in dollars/euros per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | € 12.32 | $25.68 | ' | ' | ' | $24.41 | ' | ' | ' | ||
Other period increase (decrease) (in dollars/euros per share) | ' | ' | ' | ' | ' | ' | ' | ' | -€ 2.86 | ' | ' | ' | $59.29 | $40.75 | ' | ' | $53.96 | $39.21 | ||
Outstanding at end of period (in dollars/euros per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | € 18.17 | $47.68 | $69.77 | $70.05 | $63.22 | $46.70 | $65.63 | $64.67 | $59.57 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Exercisable at end of period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,535,385 | 1,682,668 | 0 | ' | ' | 1,656,766 | 0 | ' | ' | ||
Exercisable at end of period (in dollars/euros per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | € 11.18 | $33.40 | $0 | ' | ' | $32.61 | $0 | ' | ' | ||
Outstanding at end of period | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years 4 months 24 days | '5 years | '6 years 8 months 12 days | '6 years 4 months 24 days | '1 year 7 months 6 days | '5 years | '6 years 8 months 12 days | '6 years | '1 year 7 months 6 days | ||
Outstanding at end of period | ' | ' | ' | ' | ' | ' | ' | ' | ' | € 52,400,000 | $131,800,000 | $27,800,000 | ' | ' | $123,900,000 | $28,400,000 | ' | ' | ||
Exercisable at end of period | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year 3 months 18 days | '3 years 9 months 18 days | '0 years | ' | ' | '3 years 9 months 18 days | '0 years | ' | ' | ||
Exercisable at end of period | ' | ' | ' | ' | ' | ' | ' | ' | ' | € 39.30 | $76.50 | $0 | ' | ' | $70.20 | $0 | ' | ' | ||
[1] | The amounts shown as the grant-date fair values per share for these awards represent the June 7, 2013 market prices of the applicable LGI Series A or Series C common stock that were assigned to these awards when they were remeasured in connection with the Virgin Media Acquisition. |
Restructuring_Liabilities_Deta
Restructuring Liabilities (Details) (USD $) | 9 Months Ended | 3 Months Ended | ||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
Employee severance and termination | Office closures | Contract termination and other | U.K. | Germany | Chile | VTR Wireless [Member] | VTR Wireless [Member] | VTR Wireless [Member] | ||
Employee severance and termination | Employee severance and termination | Employee severance and termination | Contract termination and other | Equipment removal | ||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring liability as of January 1, 2013 | $56.80 | $39.70 | $4 | $13.10 | ' | ' | ' | ' | ' | ' |
Restructuring charges | 139.2 | 50.7 | 0.7 | 87.8 | 22.5 | 10.6 | 7.8 | 79.8 | ' | ' |
Cash paid | -70.7 | -60.2 | -6.6 | -3.9 | ' | ' | ' | ' | ' | ' |
Virgin Media liability at acquisition date | 23.4 | 0.1 | 23.3 | 0 | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustments and other | -3.7 | 0.5 | 0.7 | -4.9 | ' | ' | ' | ' | ' | ' |
Restructuring liability as of September 30, 2013 | 145 | 30.8 | 22.1 | 92.1 | ' | ' | ' | ' | ' | ' |
Short-term portion | 81 | 30.7 | 20.5 | 29.8 | ' | ' | ' | ' | ' | ' |
Long-term portion | 64 | 0.1 | 1.6 | 62.3 | ' | ' | ' | ' | ' | ' |
Total | 145 | 30.8 | 22.1 | 92.1 | ' | ' | ' | ' | ' | ' |
Restructuring charges, mobile operations | ' | ' | ' | ' | ' | ' | ' | $78.90 | $71.10 | $7.80 |
Earnings_Loss_per_Common_Share2
Earnings (Loss) per Common Share (Narrative) (Details) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Stock Options, SARs and Nonvested Shares [Member] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Aggregate number of shares excluded from computation of EPS | 22.4 | 10.8 |
Convertible Debt Securities and Other Obligations [Member] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Aggregate number of shares excluded from computation of EPS | 1.3 | 3.7 |
Contingently Issuable Shares [Member] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Aggregate number of shares excluded from computation of EPS | 2 | 1.7 |
Earnings_Loss_per_Common_Share3
Earnings (Loss) per Common Share (Details of Net Earnings (Loss) Attributable to LGI Stockholders) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Amounts attributable to Liberty Global shareholders: | ' | ' | ' | ' |
Loss from continuing operations | ($821.60) | ($5.80) | ($791) | ($249.70) |
Earnings from discontinued operation | 0 | 0 | 0 | 959.6 |
Net earnings (loss) attributable to Liberty Global shareholders | -830.1 | -22.4 | -842.7 | 654.1 |
Liberty Global [Member] | ' | ' | ' | ' |
Amounts attributable to Liberty Global shareholders: | ' | ' | ' | ' |
Loss from continuing operations | -830.1 | -22.4 | -842.7 | -285.6 |
Earnings from discontinued operation | 0 | 0 | 0 | 939.7 |
Net earnings (loss) attributable to Liberty Global shareholders | ($830.10) | ($22.40) | ($842.70) | $654.10 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Unrecorded Purchase Obligation) (Details) (Continuing Operations [Member], USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Unrecorded Unconditional Purchase Obligation [Line Items] | ' |
Remainder of 2013 | $1,110.30 |
2014 | 1,479.70 |
2015 | 1,183.50 |
2016 | 864.1 |
2017 | 602.4 |
2018 | 297.7 |
Thereafter | 1,678.60 |
Total | 7,216.30 |
Programming Obligations [Member] | ' |
Unrecorded Unconditional Purchase Obligation [Line Items] | ' |
Remainder of 2013 | 148.9 |
2014 | 502.1 |
2015 | 379.9 |
2016 | 254 |
2017 | 127.4 |
2018 | 27.5 |
Thereafter | 0.3 |
Total | 1,440.10 |
Operating Leases [Member] | ' |
Unrecorded Unconditional Purchase Obligation [Line Items] | ' |
Remainder of 2013 | 68.9 |
2014 | 205.8 |
2015 | 176.9 |
2016 | 139.6 |
2017 | 112.7 |
2018 | 79.8 |
Thereafter | 385.5 |
Total | 1,169.20 |
Other Commitments [Member] | ' |
Unrecorded Unconditional Purchase Obligation [Line Items] | ' |
Remainder of 2013 | 892.5 |
2014 | 771.8 |
2015 | 626.7 |
2016 | 470.5 |
2017 | 362.3 |
2018 | 190.4 |
Thereafter | 1,292.80 |
Total | $4,607 |
Commitments_and_Contingencies_2
Commitments and Contingencies (Narrative) (Details) | Dec. 31, 2008 | Dec. 31, 2008 | Nov. 26, 2007 | Nov. 30, 2005 | Oct. 31, 2001 | Sep. 30, 2013 | Sep. 30, 2013 | Jan. 31, 2013 | Jan. 31, 2013 | Apr. 02, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Jan. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Oct. 03, 2013 | Oct. 04, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
In Millions, unless otherwise specified | Interkabel Acquisition [Member] | Interkabel Acquisition [Member] | Interkabel Acquisition [Member] | Cignal Legal Actions from 2002 and 2006 [Member] | Cignal Legal Actions from 2002 and 2006 [Member] | Cignal Legal Actions from 2002 and 2006 [Member] | Virgin Media Acquisition Litigation [Member] | Vivendi Litigation [Member] | Vivendi Litigation [Member] | Belgium Regulatory Developments [Member] | Deutsche Telekom Litigation [Member] | Deutsche Telekom Litigation [Member] | FCO Regulatory Issues [Member] | Virgin Media VAT Matters [Member] | Virgin Media VAT Matters [Member] | Broadband Communications and DHT Operations [Member] | Broadband Communications and DHT Operations [Member] | Programming Distribution Operations [Member] | Programming Distribution Operations [Member] | Intersegment Elimination [Member] | Intersegment Elimination [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Minimum [Member] | Maximum [Member] |
USD ($) | EUR (€) | Associations | USD ($) | USD ($) | USD ($) | plaintiff | USD ($) | EUR (€) | USD ($) | EUR (€) | Competitors | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Virgin Media Acquisition Litigation [Member] | Belgium Regulatory Developments [Member] | Financial Transactions Tax [Member] | Financial Transactions Tax [Member] | ||
Plantiffs | Plantiffs | ||||||||||||||||||||||||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Programming costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,154.50 | $764.70 | $93.90 | $78.40 | $56.60 | $49.20 | ' | ' | ' | ' |
Aggregate cash equivalent value of Liberty Global Europe shares in exchange for Priority Telecom shares | ' | ' | ' | ' | 200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of individual plaintiffs | ' | ' | ' | 9 | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Damages sought | ' | ' | ' | 28 | ' | ' | ' | ' | ' | ' | 103 | 76 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss contingency accrued | ' | ' | ' | ' | ' | 146 | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of stockholders elected out of settlement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Number of associations of municipalities in Belgium | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss contingency damages in excess value | 27.1 | 20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retail-minus tariffs for basic TV | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.00% | ' | ' |
Retail-minus tariffs for bundle of basic TV and broadband internet services | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23.00% | ' | ' |
Subsidiary interest in recovery | ' | ' | ' | ' | ' | ' | ' | 10.00% | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financial transactions tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.01% | 0.10% |
Number of competitors of German cable business | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Duration of contracts with multiple dwelling units in question of antitrust laws | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain related to litigation | ' | ' | ' | ' | ' | ' | ' | 1,277 | 944 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated maximum exposure | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $56.80 | € 35.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment_Reporting_Narrative_De
Segment Reporting (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2013 | |
Segment Reporting Information [Line Items] | ' |
Threshold percentage used to determine reportable segments using one of three criteria of revenue, operating cash flow or total assets | 10.00% |
Performance measures, percentage of reportable segment revenue and operating cash flow presented | 100.00% |
Total UPC / Unity Division [Member] | ' |
Segment Reporting Information [Line Items] | ' |
Number of european countries in operating segment (in countries) | 12 |
Telnet, VTR Group, and Liberty Puerto Rico [Member] | ' |
Segment Reporting Information [Line Items] | ' |
Percentage of minority interest revenues and expenses included in net earnings attributable to noncontrolling interest | 100.00% |
Segment_Reporting_Performance_
Segment Reporting (Performance Measures) (Schedule) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Revenue | $4,371.20 | [1] | $2,519.10 | [1] | $10,300.80 | [1] | $7,580.60 | [1] |
Operating cash flow | 2,001 | 1,224.70 | 4,720.30 | 3,615.20 | ||||
European Operations Division Virgin Media (U.K.) [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Revenue | ' | 0 | ' | 0 | ||||
Operating cash flow | 663 | 0 | 838.3 | 0 | ||||
European Operations Division Virgin Media (U.K.) [Member] | Virgin Media | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Revenue | 1,587.40 | ' | 1,988.70 | ' | ||||
European Operations Division Germany [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Revenue | 641.3 | 568.7 | 1,884.10 | 1,695.60 | ||||
Operating cash flow | 391.2 | 340.9 | 1,120.60 | 998.1 | ||||
Telenet (Belgium) [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Revenue | 545.6 | 461 | 1,616.20 | 1,404.70 | ||||
Operating cash flow | 275.4 | 240.7 | 792.1 | 713.4 | ||||
European Operations Division Netherlands [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Revenue | 305.4 | 300.3 | 923.4 | 914.7 | ||||
Operating cash flow | 176.3 | 183.7 | 532.2 | 545.2 | ||||
European Operations Division Switzerland [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Revenue | 332.1 | 308 | 982 | 934.3 | ||||
Operating cash flow | 200.8 | 176.5 | 572.2 | 532.7 | ||||
European Operations Division Other Western Europe [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Revenue | 223.5 | 207.9 | 665.7 | 628.3 | ||||
Operating cash flow | 113.8 | 103.2 | 324.2 | 297.7 | ||||
European Operations Division Total Western Europe [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Revenue | 3,635.30 | 1,845.90 | 8,060.10 | 5,577.60 | ||||
Operating cash flow | 1,820.50 | 1,045 | 4,179.60 | 3,087.10 | ||||
European Operations Division Central and Eastern Europe [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Revenue | 279.1 | 273.9 | 848.4 | 829.8 | ||||
Operating cash flow | 131.9 | 137.7 | 407.6 | 410.2 | ||||
European Operations Division Central and Other [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Revenue | 33.4 | 29 | 96.7 | 86.1 | ||||
Operating cash flow | -44.5 | -36.1 | -144.5 | -116.1 | ||||
Total European Operations Division [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Revenue | 3,947.80 | 2,148.80 | 9,005.20 | 6,493.50 | ||||
Operating cash flow | 1,907.90 | 1,146.60 | 4,442.70 | 3,381.20 | ||||
VTR Chile [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Revenue | 244.8 | 241 | 747.9 | 692.3 | ||||
Operating cash flow | 84.5 | 81.5 | 256.5 | 232 | ||||
Corporate and Other [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Revenue | 199.8 | 150.3 | 610.5 | 451.3 | ||||
Operating cash flow | 8.6 | -3.4 | 21.1 | 2 | ||||
Intersegment Elimination [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Revenue | ($21.20) | ($21) | ($62.80) | ($56.50) | ||||
[1] | In connection with the Virgin Media Acquisition, we determined that we would no longer externally report digital subscriber line (DSL) subscribers as revenue generating units (RGUs). Accordingly, we have reclassified the revenue from our DSL subscribers in Austria from broadband internet and telephony subscription revenue to other revenue for all periods presented. |
Segment_Reporting_Reconciliati
Segment Reporting (Reconciliation of Operating Cash Flow to Earnings from Continuing Operations) (Schedule) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total segment operating cash flow from continuing operations | $2,001 | $1,224.70 | $4,720.30 | $3,615.20 |
Share-based compensation expense | -98.7 | -27.2 | -219.4 | -90.5 |
Depreciation and amortization | -1,390.50 | -670.3 | -2,947.90 | -2,009.70 |
Release of litigation provision | 146 | 0 | 146 | 0 |
Impairment, restructuring and other operating items, net | -135.9 | -18.1 | -206.5 | -32.6 |
Operating income | 521.9 | 509.1 | 1,492.50 | 1,482.40 |
Interest expense | -630.2 | -408.6 | -1,642.70 | -1,228.80 |
Interest and dividend income (note 3) | 62 | 17.8 | 111.2 | 38.7 |
Realized and unrealized losses on derivative instruments, net | -876.3 | -237.2 | -685.2 | -613.9 |
Foreign currency transaction gains, net | 255 | 150.2 | 211.6 | 154.8 |
Realized and unrealized gains (losses) due to changes in fair values of certain investments, net | 78.9 | -18.1 | 344.1 | -1.3 |
Losses on debt modifications and extinguishment, net | -0.7 | -13.8 | -170.7 | -27.5 |
Gains due to changes in ownership | 0 | 52.5 | 0 | 52.5 |
Other income (expense), net | -3.4 | 3.4 | -6.6 | -0.6 |
Earnings (loss) from continuing operations before income taxes | -592.8 | 55.3 | -345.8 | -143.7 |
Continuing Operations [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total segment operating cash flow from continuing operations | 2,001 | 1,224.70 | 4,720.30 | 3,615.20 |
Share-based compensation expense | -98.7 | -27.2 | -219.4 | -90.5 |
Depreciation and amortization | -1,390.50 | -670.3 | -2,947.90 | -2,009.70 |
Release of litigation provision | 146 | 0 | 146 | 0 |
Impairment, restructuring and other operating items, net | -135.9 | -18.1 | -206.5 | -32.6 |
Operating income | $521.90 | $509.10 | $1,492.50 | $1,482.40 |
Segment_Reporting_Revenue_by_M
Segment Reporting (Revenue by Major Category) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Total subscription revenue | $3,391.80 | [1] | $2,103.70 | [1] | $8,231.90 | [1] | $6,343.30 | [1] |
Other revenue | 979.4 | [2],[3] | 415.4 | [2],[3] | 2,068.90 | [2],[3] | 1,237.30 | [2],[3] |
Total | 4,371.20 | [2] | 2,519.10 | [2] | 10,300.80 | [2] | 7,580.60 | [2] |
Video [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Total subscription revenue | 1,599.60 | [1] | 1,128.40 | [1] | 4,087.10 | [1] | 3,435.90 | [1] |
Broadband Internet [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Total subscription revenue | 1,023.70 | [1],[2] | 595.3 | [1],[2] | 2,448.20 | [1],[2] | 1,776.60 | [1],[2] |
Telephony [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Total subscription revenue | $768.50 | [1],[2] | $380 | [1],[2] | $1,696.60 | [1],[2] | $1,130.80 | [1],[2] |
[1] | Subscription revenue includes amounts received from subscribers for ongoing services, excluding installation fees, late fees and mobile services revenue. Subscription revenue from subscribers who purchase bundled services at a discounted rate is generally allocated proportionally to each service based on the standalone price for each individual service. | |||||||
[2] | In connection with the Virgin Media Acquisition, we determined that we would no longer externally report digital subscriber line (DSL) subscribers as revenue generating units (RGUs). Accordingly, we have reclassified the revenue from our DSL subscribers in Austria from broadband internet and telephony subscription revenue to other revenue for all periods presented. | |||||||
[3] | Other revenue includes non-subscription revenue (including B2B, mobile services, interconnect, installation revenue and carriage fees) and programming revenue. |
Segment_Reporting_Geographic_S
Segment Reporting (Geographic Segments) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Total | $4,371.20 | [1] | $2,519.10 | [1] | $10,300.80 | [1] | $7,580.60 | [1] |
European Operations Division Virgin Media (U.K.) [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Geographic segments revenue | 1,587.40 | 0 | 1,988.70 | 0 | ||||
Total | ' | 0 | ' | 0 | ||||
European Operations Division Germany [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Geographic segments revenue | 641.3 | 568.7 | 1,884.10 | 1,695.60 | ||||
Total | 641.3 | 568.7 | 1,884.10 | 1,695.60 | ||||
Telenet (Belgium) [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Geographic segments revenue | 545.6 | 461 | 1,616.20 | 1,404.70 | ||||
Total | 545.6 | 461 | 1,616.20 | 1,404.70 | ||||
European Operations Division Netherlands [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Geographic segments revenue | 305.4 | 300.3 | 923.4 | 914.7 | ||||
Total | 305.4 | 300.3 | 923.4 | 914.7 | ||||
European Operations Division Switzerland [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Geographic segments revenue | 332.1 | 308 | 982 | 934.3 | ||||
Total | 332.1 | 308 | 982 | 934.3 | ||||
European Operations Division Austria [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Geographic segments revenue | 108.3 | 102.7 | 323.8 | 315.1 | ||||
European Operations Division Ireland [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Geographic segments revenue | 115.2 | 105.2 | 341.9 | 313.2 | ||||
European Operations Division Poland [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Geographic segments revenue | 110.9 | 110.6 | 340.6 | 334.8 | ||||
European Operations Division Hungary [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Geographic segments revenue | 63.7 | 62.1 | 190.9 | 182.9 | ||||
European Operations Division Czech Republic [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Geographic segments revenue | 54 | 55.4 | 166.1 | 169.6 | ||||
European Operations Division Romania [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Geographic segments revenue | 34.7 | 31.1 | 103.6 | 97.1 | ||||
European Operations Division Slovakia [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Geographic segments revenue | 15.8 | 14.7 | 47.2 | 45.4 | ||||
European Operations Division Other Europe [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Geographic segments revenue | 33.4 | [2] | 29 | [2] | 96.7 | [2] | 86.1 | [2] |
Total European Operations Division [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Geographic segments revenue | 3,947.80 | 2,148.80 | 9,005.20 | 6,493.50 | ||||
Total | 3,947.80 | 2,148.80 | 9,005.20 | 6,493.50 | ||||
Chellomedia - Poland [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Geographic segments revenue | 18 | 22.3 | 62.5 | 78.9 | ||||
Chellomedia - The Netherlands [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Geographic segments revenue | 22.8 | 20.6 | 71.9 | 66.2 | ||||
Chellomedia - Spain [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Geographic segments revenue | 13.3 | 15.9 | 45.1 | 49.6 | ||||
Chellomedia - Hungary [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Geographic segments revenue | 16.8 | 13.6 | 49.5 | 43 | ||||
Other Chellomedia [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Geographic segments revenue | 54.2 | [3] | 47.6 | [3] | 159.6 | [3] | 123.6 | [3] |
Total Chellomedia [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Geographic segments revenue | 125.1 | 120 | 388.6 | 361.3 | ||||
Chile [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Geographic segments revenue | 244.8 | 241 | 747.9 | 692.3 | ||||
Puerto Rico | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Geographic segments revenue | 74.7 | 30.3 | 221.9 | 90 | ||||
Intersegment Eliminations and Other [Member] | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Geographic segments revenue | ($21.20) | ($21) | ($62.80) | ($56.50) | ||||
[1] | In connection with the Virgin Media Acquisition, we determined that we would no longer externally report digital subscriber line (DSL) subscribers as revenue generating units (RGUs). Accordingly, we have reclassified the revenue from our DSL subscribers in Austria from broadband internet and telephony subscription revenue to other revenue for all periods presented. | |||||||
[2] | Primarily represents revenue of UPC DTH from customers located in Hungary, the Czech Republic, Romania and Slovakia. | |||||||
[3] | Chellomediabs other geographic segments are located primarily in the U.K., Latin America, Portugal, the Czech Republic, Romania, Slovakia and Italy. |
Subsequent_Events_Details
Subsequent Events (Details) (Chellomedia [Member], Subsequent Event [Member]) | 0 Months Ended | |
In Millions, unless otherwise specified | Oct. 28, 2013 | Oct. 28, 2013 |
USD ($) | EUR (€) | |
Subsequent Event [Line Items] | ' | ' |
Proceeds from divestiture of businesses | $1,014.90 | € 750 |