Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |||
Sep. 30, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | |
Class A Ordinary Shares [Member] | Class B Ordinary Shares [Member] | Class C Ordinary Shares [Member] | ||
Entity Information [Line Items] | ' | ' | ' | ' |
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-14 | ' | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' | ' |
Document Fiscal Period Focus | 'Q3 | ' | ' | ' |
Amendment Flag | 'false | ' | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 215,176,985 | 10,139,184 | 555,231,695 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $954.90 | $2,701.90 |
Trade receivables, net | 1,345.30 | 1,588.70 |
Derivative instruments (note 5) | 458.1 | 252.1 |
Deferred income taxes | 369.8 | 226.1 |
Prepaid expenses | 232.9 | 238.2 |
Current assets of discontinued operation (note 3) | 0 | 238.7 |
Other current assets | 265.4 | 236.9 |
Total current assets | 3,626.40 | 5,482.60 |
Investments (including $4,364.3 million and $3,481.8 million, respectively, measured at fair value) (note 4) | 4,529.70 | 3,491.20 |
Property and equipment, net (note 7) | 22,119.60 | 23,974.90 |
Goodwill (note 7) | 22,395.90 | 23,748.80 |
Intangible assets subject to amortization, net (note 7) | 4,815.40 | 5,795.40 |
Long-term assets of discontinued operation (note 3) | 0 | 513.6 |
Other assets, net (note 5) | 4,753 | 4,707.80 |
Total assets | 62,240 | 67,714.30 |
Current liabilities: | ' | ' |
Accounts payable | 1,018 | 1,072.90 |
Deferred revenue and advance payments from subscribers and others | 1,194.10 | 1,406.20 |
Current portion of debt and capital lease obligations (note 8) | 1,669 | 1,023.40 |
Derivative instruments (note 5) | 1,196.20 | 751.2 |
Accrued interest | 581.7 | 598.7 |
Accrued programming and copyright | 371.1 | 359.1 |
Current liabilities of discontinued operation (note 3) | 0 | 127.5 |
Other accrued and current liabilities (note 12) | 2,419.40 | 2,344 |
Total current liabilities | 8,449.50 | 7,683 |
Long-term debt and capital lease obligations (note 8) | 39,463.80 | 43,680.90 |
Long-term liabilities of discontinued operation (note 3) | 0 | 19.8 |
Other long-term liabilities (notes 5 and 12) | 4,019.50 | 4,789.10 |
Total liabilities | 51,932.80 | 56,172.80 |
Commitments and contingencies (notes 3, 5, 8, 9 and 14) | ' | ' |
Liberty Global shareholders: | ' | ' |
Additional paid-in capital | 12,140.80 | 12,809.40 |
Accumulated deficit | -3,484.20 | -3,312.60 |
Accumulated other comprehensive earnings, net of taxes | 2,279 | 2,528.80 |
Treasury shares, at cost | -4.5 | -7.7 |
Total Liberty Global shareholders | 10,939 | 12,025.80 |
Noncontrolling interests (note 10) | -631.8 | -484.3 |
Total equity | 10,307.20 | 11,541.50 |
Total liabilities and equity | 62,240 | 67,714.30 |
Class A ordinary shares, $0.01 nominal value. Issued and outstanding 215,137,527 and 222,081,117 shares, respectively | ' | ' |
Liberty Global shareholders: | ' | ' |
Common stock | 2.2 | 2.2 |
Class B ordinary shares, $0.01 nominal value. Issued and outstanding 10,139,184 and 10,147,184 shares, respectively | ' | ' |
Liberty Global shareholders: | ' | ' |
Common stock | 0.1 | 0.1 |
Class C ordinary shares, $0.01 nominal value. Issued and outstanding 555,026,283 and 556,221,669 shares, respectively | ' | ' |
Liberty Global shareholders: | ' | ' |
Common stock | $5.60 | $5.60 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, except Share data, unless otherwise specified | ||
Investments, fair value | $4,364.30 | $3,481.80 |
Class A Ordinary Shares [Member] | ' | ' |
Common stock, nominal value (in dollars per share) | $0.01 | $0.01 |
Common stock, issued (in shares) | 215,137,527 | 222,081,117 |
Common stock, outstanding (in shares) | 215,137,527 | 222,081,117 |
Class B Ordinary Shares [Member] | ' | ' |
Common stock, nominal value (in dollars per share) | $0.01 | $0.01 |
Common stock, issued (in shares) | 10,139,184 | 10,147,184 |
Common stock, outstanding (in shares) | 10,139,184 | 10,147,184 |
Class C Ordinary Shares [Member] | ' | ' |
Common stock, nominal value (in dollars per share) | $0.01 | $0.01 |
Common stock, issued (in shares) | 555,026,283 | 556,221,669 |
Common stock, outstanding (in shares) | 555,026,283 | 556,221,669 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Income Statement [Abstract] | ' | ' | ' | ' |
Revenue (note 15) | $4,497.20 | $4,276.50 | $13,633.10 | $10,006.20 |
Operating costs and expenses: | ' | ' | ' | ' |
Operating (other than depreciation and amortization) (including share-based compensation) (note 11) | 1,659.70 | 1,646.60 | 5,077.70 | 3,711.50 |
Selling, general and administrative (SG&A) (including share-based compensation) (note 11) | 800 | 739.5 | 2,355 | 1,823.90 |
Depreciation and amortization | 1,313.50 | 1,381.30 | 4,084 | 2,921.70 |
Release of litigation provision | 0 | -146 | 0 | -146 |
Impairment, restructuring and other operating items, net (note 12) | 20.3 | 133.9 | 161.5 | 200.6 |
Operating costs and expenses, Total | 3,793.50 | 3,755.30 | 11,678.20 | 8,511.70 |
Operating income | 703.7 | 521.2 | 1,954.90 | 1,494.50 |
Non-operating income (expense): | ' | ' | ' | ' |
Interest expense | -617.3 | -630 | -1,912.60 | -1,643.90 |
Interest and dividend income | 13.2 | 62 | 29.2 | 110.7 |
Realized and unrealized gains (losses) on derivative instruments, net (note 5) | 527.9 | -875.4 | -177.3 | -683.3 |
Foreign currency transaction gains (losses), net | -375.8 | 258 | -433 | 213 |
Realized and unrealized gains due to changes in fair values of certain investments, net (notes 4 and 6) | 92.2 | 80.8 | 189.4 | 345.4 |
Losses on debt modification and extinguishment, net (note 8) | -9.6 | -0.7 | -83.5 | -170.7 |
Other expense, net | -13 | -3.5 | -17.4 | -6.7 |
Non-operating income (expense), Total | -382.4 | -1,108.80 | -2,405.20 | -1,835.50 |
Earnings (loss) from continuing operations before income taxes | 321.3 | -587.6 | -450.3 | -341 |
Income tax expense (note 9) | -145.6 | -223.2 | -28 | -436.8 |
Earnings (loss) from continuing operations | 175.7 | -810.8 | -478.3 | -777.8 |
Discontinued operation (note 3): | ' | ' | ' | ' |
Earnings (loss) from discontinued operation, net of taxes | 0 | -10.8 | 0.8 | -13.2 |
Gain on disposal of discontinued operation, net of taxes | 0 | 0 | 332.7 | 0 |
Income (loss) on discontinued operation, Total | 0 | -10.8 | 333.5 | -13.2 |
Net earnings (loss) | 175.7 | -821.6 | -144.8 | -791 |
Net earnings attributable to noncontrolling interests | -18.6 | -8.5 | -26.8 | -51.7 |
Net earnings (loss) attributable to Liberty Global shareholders | $157.10 | ($830.10) | ($171.60) | ($842.70) |
Basic and diluted earnings (loss) attributable to Liberty Global shareholders per share (note 13): | ' | ' | ' | ' |
Continuing operations (in dollars per share) | $0.20 | ($1.03) | ($0.64) | ($1.31) |
Discontinued operation (in dollars per share) | $0 | ($0.01) | $0.43 | ($0.02) |
Basic and diluted earnings (loss) attributable to Liberty Global shareholders per share (in dollars per share) | $0.20 | ($1.04) | ($0.21) | ($1.33) |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Earnings (Loss) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net earnings (loss) | $175.70 | ($821.60) | ($144.80) | ($791) |
Other comprehensive earnings (loss), net of taxes: | ' | ' | ' | ' |
Foreign currency translation adjustments | -788.9 | 1,068.80 | -313.9 | 589.5 |
Reclassification adjustments included in net earnings (loss) (note 3) | 0.3 | 0 | 64.5 | 0.2 |
Other | -0.1 | 0 | -0.1 | 0.2 |
Other comprehensive earnings (loss) | -788.7 | 1,068.80 | -249.5 | 589.9 |
Comprehensive earnings (loss) | -613 | 247.2 | -394.3 | -201.1 |
Comprehensive earnings attributable to noncontrolling interests | -18.7 | -5.5 | -27.1 | -43 |
Comprehensive earnings (loss) attributable to Liberty Global shareholders | ($631.70) | $241.70 | ($421.40) | ($244.10) |
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] |
In Millions, unless otherwise specified | Ordinary shares | Ordinary shares | Ordinary shares | |||||||
Beginning balance at Dec. 31, 2013 | $11,541.50 | $12,809.40 | ($3,312.60) | $2,528.80 | ($7.70) | $12,025.80 | ($484.30) | $2.20 | $0.10 | $5.60 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | -144.8 | ' | -171.6 | ' | ' | -171.6 | 26.8 | ' | ' | ' |
Other comprehensive loss, net of taxes | -249.5 | ' | ' | -249.8 | ' | -249.8 | 0.3 | ' | ' | ' |
Repurchase and cancellation of Liberty Global ordinary shares (note 10) | -949.9 | -949.8 | ' | ' | ' | -949.9 | ' | ' | ' | -0.1 |
VTR NCI Acquisition (note 10) | 0 | 185.3 | ' | ' | ' | 185.4 | -185.4 | ' | ' | 0.1 |
Share-based compensation (note 11) | 154.9 | 154.9 | ' | ' | ' | 154.9 | ' | ' | ' | ' |
Adjustments due to changes in subsidiariesb equity and other, net | -45 | -59 | ' | ' | 3.2 | -55.8 | 10.8 | ' | ' | ' |
Ending balance at Sep. 30, 2014 | $10,307.20 | $12,140.80 | ($3,484.20) | $2,279 | ($4.50) | $10,939 | ($631.80) | $2.20 | $0.10 | $5.60 |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements of Cash Flows (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Cash flows from operating activities: | ' | ' | ' | ' |
Net earnings (loss) | $175.70 | ($821.60) | ($144.80) | ($791) |
Loss (earnings) from discontinued operation | 0 | 10.8 | -333.5 | 13.2 |
Loss from continuing operations | 175.7 | -810.8 | -478.3 | -777.8 |
Adjustments to reconcile loss from continuing operations to net cash provided by operating activities: | ' | ' | ' | ' |
Share-based compensation expense | 73.1 | 98.2 | 182.6 | 217.9 |
Depreciation and amortization | 1,313.50 | 1,381.30 | 4,084 | 2,921.70 |
Release of litigation provision | 0 | -146 | 0 | -146 |
Impairment, restructuring and other operating items, net | 20.3 | 133.9 | 161.5 | 200.6 |
Amortization of deferred financing costs and non-cash interest accretion | ' | ' | 63.6 | 55.8 |
Realized and unrealized losses on derivative instruments, net | -527.9 | 875.4 | 177.3 | 683.3 |
Foreign currency transaction losses (gains), net | 375.8 | -258 | 433 | -213 |
Realized and unrealized gains due to changes in fair values of certain investments, net of dividends | ' | ' | -189.4 | -344.4 |
Losses on debt modification and extinguishment, net | 9.6 | 0.7 | 83.5 | 170.7 |
Deferred income tax expense (benefit) | ' | ' | -243.2 | 172.5 |
Changes in operating assets and liabilities, net of the effects of acquisitions and dispositions | ' | ' | -204.5 | -489.5 |
Net cash provided (used) by operating activities of discontinued operation | ' | ' | -9.6 | 14.2 |
Net cash provided by operating activities | ' | ' | 4,060.50 | 2,466 |
Cash flows from investing activities: | ' | ' | ' | ' |
Capital expenditures | ' | ' | -2,046.30 | -1,791 |
Investments in and loans to affiliates and others | ' | ' | -994.2 | -1,336.40 |
Proceeds received upon disposition of discontinued operation, net of disposal costs | ' | ' | 988.5 | 0 |
Cash paid in connection with acquisitions, net of cash acquired | ' | ' | -34.5 | -4,068.20 |
Other investing activities, net | ' | ' | -5.3 | -49.2 |
Net cash used by investing activities of discontinued operation | ' | ' | -3.8 | -8.4 |
Net cash used by investing activities | ' | ' | -2,095.60 | -7,253.20 |
Cash flows from financing activities: | ' | ' | ' | ' |
Repayments and repurchases of debt and capital lease obligations | ' | ' | -6,853.60 | -7,823.50 |
Borrowings of debt | ' | ' | 4,455.20 | 9,254.60 |
Repurchase of Liberty Global and LGI shares | ' | ' | -961 | -860.7 |
Payment of financing costs and debt premiums | ' | ' | -191 | -356.1 |
Net cash received (paid) related to derivative instruments | ' | ' | -146.7 | 537 |
Distributions by subsidiaries to noncontrolling interests | ' | ' | -12.1 | -533.2 |
Decrease in restricted cash related to the Virgin Media Acquisition | ' | ' | 0 | 3,594.40 |
Decrease in restricted cash related to the Telenet Tender | ' | ' | 0 | 1,539.70 |
Purchase of additional Telenet shares | ' | ' | 0 | -457.7 |
Other financing activities, net | ' | ' | 30.9 | 4.7 |
Net cash used by financing activities of discontinued operation | ' | ' | -1.2 | -6.4 |
Net cash provided (used) by financing activities | ' | ' | -3,679.50 | 4,892.80 |
Effect of exchange rate changes on cash: | ' | ' | ' | ' |
Continuing operations | ' | ' | -32.4 | 62.5 |
Discontinued operation | ' | ' | 0 | -0.5 |
Total | ' | ' | -32.4 | 62 |
Net increase (decrease) in cash and cash equivalents: | ' | ' | ' | ' |
Continuing operations | ' | ' | -1,732.40 | 168.7 |
Discontinued operation | ' | ' | -14.6 | -1.1 |
Net increase (decrease) in cash and cash equivalents | ' | ' | -1,747 | 167.6 |
Cash and cash equivalents: | ' | ' | ' | ' |
Beginning of period | ' | ' | 2,701.90 | 2,038.90 |
End of period | 954.9 | 2,206.50 | 954.9 | 2,206.50 |
Cash paid for interest - continuing operations | ' | ' | 1,855.60 | 1,498.50 |
Net cash paid for taxes: | ' | ' | ' | ' |
Net cash paid for taxes: | ' | ' | 67.8 | 68.4 |
Discontinued operation | ' | ' | 2.2 | 8.7 |
Total | ' | ' | $70 | $77.10 |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2014 | |
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). 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, 2014 in 14 countries. Through Virgin Media and Unitymedia KabelBW GmbH (Unitymedia KabelBW), each a wholly-owned subsidiary, and Telenet Group Holding NV (Telenet), a 57.0%-owned subsidiary, we provide video, broadband internet, fixed-line telephony and mobile services in the United Kingdom (U.K.), Germany and Belgium, respectively. Through UPC Holding BV (UPC Holding), also a wholly-owned subsidiary, we provide (i) video, broadband internet and fixed-line telephony services in nine European countries and (ii) mobile services in four European countries. The operations of Virgin Media, Unitymedia KabelBW, Telenet and UPC Holding are collectively referred to herein as the “European Operations Division.” In Chile, we provide (i) video, broadband internet and fixed-line telephony services through VTR GlobalCom SpA (VTR GlobalCom) and (ii) mobile services through VTR Wireless SpA (VTR Wireless). The operations of VTR GlobalCom and VTR Wireless are collectively referred to herein as “VTR.” Our consolidated operations also include the broadband communications operations of Liberty Cablevision of Puerto Rico LLC (Liberty Puerto Rico), an entity in which we hold a 60% ownership interest. | |
At December 31, 2013, we owned programming interests in Europe and Latin America that were held through Chellomedia BV (Chellomedia). On January 31, 2014, we completed the sale of substantially all of Chellomedia’s assets (the Chellomedia Disposal Group). Accordingly, (i) the Chellomedia Disposal Group is reflected as a discontinued operation in our condensed consolidated balance sheet as of December 31, 2013, (ii) our condensed consolidated statements of operations and cash flows have been reclassified to present the Chellomedia Disposal Group as a discontinued operation for all periods presented and (iii) the amounts presented in these notes relate only to our continuing operations, unless otherwise noted. Certain entities within the Chellomedia Disposal Group provide programming services to certain of our broadband communications operations, primarily in Europe. For additional information regarding our discontinued operation, see note 3. | |
On January 26, 2014, our board of directors approved a share split in the form of a share dividend (the 2014 Share Dividend), which constitutes a bonus issue under our articles of association and English law, of one Liberty Global Class C ordinary share on each outstanding Liberty Global Class A, Class B and Class C ordinary share as of the February 14, 2014 record date. The distribution date for the 2014 Share Dividend was March 3, 2014. All Liberty Global share and per share amounts presented herein have been retroactively adjusted to give effect to the 2014 Share Dividend. | |
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 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 2013 consolidated financial statements and notes thereto included in our 2013 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 things, the valuation of acquisition-related assets and liabilities, allowances for uncollectible accounts, programming and copyright costs, 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, 2014. | |
Certain prior period amounts have been reclassified to conform to the current period presentation. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2014 | |
Accounting Changes and Error Corrections [Abstract] | ' |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (ASU 2014-09), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace existing revenue recognition guidance in GAAP when it becomes effective on January 1, 2017. Early application is not permitted. This new standard permits the use of either the retrospective or cumulative effect transition method. We are currently evaluating the effect that ASU 2014-09 will have on our consolidated financial statements and related disclosures. We have not yet selected a transition method nor have we determined the effect of the standard on our ongoing financial reporting. |
Acquisitions_and_Discontinued_
Acquisitions and Discontinued Operation | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Acquisitions and Dispositions [Abstract] | ' | |||||||||||
Acquisitions and Discontinued Operation | ' | |||||||||||
Acquisitions and Discontinued Operation | ||||||||||||
Acquisition of Ziggo | ||||||||||||
On January 27, 2014, we reached an agreement (the Ziggo Merger Agreement) on an offer to acquire all of the shares of Ziggo N.V. (Ziggo) that we did not already own (the Ziggo Offer) in a share and cash transaction. The Ziggo Offer expired on November 4, 2014, with approximately 67.2% of the issued and outstanding shares of Ziggo being tendered. The Ziggo shares tendered pursuant to the Ziggo Offer plus the Ziggo shares already owned by us represent approximately 87.9% of the outstanding shares of Ziggo. All conditions for completion of the Ziggo Offer have been satisfied or waived, and we declared the Ziggo Offer unconditional on November 5, 2014. Under the terms of the Ziggo Offer, Ziggo shareholders who tendered their Ziggo shares into the Ziggo Offer will receive an offer price of (i) 0.2282 Class A ordinary shares of Liberty Global, (ii) 0.5630 Class C ordinary shares of Liberty Global and (iii) €11.00 ($13.89) in cash for each Ziggo share that they tendered. Payment and delivery of the offer price to tendering Ziggo shareholders is expected to occur on November 11, 2014. Additionally, we have announced a post-closing acceptance period, beginning on November 6, 2014 and ending on November 19, 2014, during which Ziggo shareholders who did not tender their shares during the original Ziggo Offer may tender their Ziggo shares for immediate acceptance at the same offer price indicated above. | ||||||||||||
In connection with the completion of the Ziggo Offer, we obtained regulatory clearance from the European Commission on October 10, 2014, which clearance is subject to the following commitments: | ||||||||||||
• | our commitment to divest our Film1 channel to a third party and to carry Film1 on Ziggo’s network for a period of three years; and | |||||||||||
• | our commitment for a period of eight years with respect to our network in the Netherlands (i) not to enforce certain clauses currently contained in carriage agreements with broadcasters that restrict the ability of broadcasters to offer their channels and content via over-the-top services, (ii) not to enter into carriage agreements containing such clauses and (iii) to maintain adequate interconnection capacity through at least three uncongested routes into our network in the Netherlands, at least one of which must be with a large transit provider. | |||||||||||
2013 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). For accounting purposes, the Virgin Media Acquisition was treated as the acquisition of Virgin Media by Liberty Global and the total equity and cash consideration paid to acquire Virgin Media was $14.1 billion. | ||||||||||||
Pro Forma Information | ||||||||||||
The following unaudited pro forma condensed consolidated operating results for the nine months ended September 30, 2013 give effect to the Virgin Media Acquisition as if it had been completed as of January 1, 2013. These pro forma amounts are not necessarily indicative of the operating results that would have occurred if this transaction had occurred on such date. The pro forma adjustments are based on certain assumptions that we believe are reasonable. | ||||||||||||
Nine months ended September 30, 2013 | ||||||||||||
in millions, except per share amount | ||||||||||||
Revenue: | ||||||||||||
Continuing operations | $ | 12,771.10 | ||||||||||
Discontinued operation | 294.6 | |||||||||||
Total | $ | 13,065.70 | ||||||||||
Net loss attributable to Liberty Global shareholders | $ | (1,178.5 | ) | |||||||||
Basic and diluted loss attributable to Liberty Global shareholders per share | $ | (1.48 | ) | |||||||||
Discontinued Operation | ||||||||||||
On January 31, 2014, we completed the sale of the Chellomedia Disposal Group to AMC Networks Inc. for €750.0 million ($1,013.1 million at the applicable rate) in cash (the Chellomedia Transaction). Accordingly, the Chellomedia Disposal Group is reflected as a discontinued operation in our condensed consolidated statements of operations and cash flows for all periods presented. In connection with the sale of the Chellomedia Disposal Group, we recognized a pre-tax gain of $342.2 million during the nine months ended September 30, 2014. This pre-tax gain is net of a $64.0 million cumulative foreign currency translation loss, which was reclassified to net loss from accumulated other comprehensive earnings. The associated income tax expense of $9.5 million differs from the amount computed by applying the U.K. statutory income tax rate in effect at the time of 21.5% due primarily to the fact that (i) the transaction was not subject to taxation in the U.K. and (ii) most elements of the transaction were not subject to taxation in the Netherlands or the U.S. The net after-tax gain of $332.7 million for the nine months ended September 30, 2014 is included in gain on disposal of discontinued operations, net of taxes, in our condensed consolidated statement of operations. | ||||||||||||
The operating results of the Chellomedia Disposal Group for the three months ended September 30, 2013 and the nine months ended September 30, 2014 and 2013 are summarized in the following table: | ||||||||||||
Three months ended | Nine months ended | |||||||||||
30-Sep-13 | September 30, | |||||||||||
2014 (a) | 2013 | |||||||||||
in millions | ||||||||||||
Revenue | $ | 94.7 | $ | 26.6 | $ | 294.6 | ||||||
Operating income (loss) | $ | 0.7 | $ | 0.6 | $ | (2.0 | ) | |||||
Earnings (loss) before income taxes and noncontrolling interests | $ | (5.2 | ) | $ | 0.9 | $ | (4.8 | ) | ||||
Income tax expense | $ | (5.6 | ) | $ | (0.1 | ) | $ | (8.4 | ) | |||
Earnings (loss) from discontinued operation attributable to Liberty Global shareholders, net of taxes | $ | (11.6 | ) | $ | 0.8 | $ | (14.3 | ) | ||||
_______________ | ||||||||||||
(a) | Includes the operating results of the Chellomedia Disposal Group through January 31, 2014, the date the Chellomedia Disposal Group was sold. |
Investments
Investments | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Investments [Abstract] | ' | ||||||||
Investments | ' | ||||||||
Investments | |||||||||
The details of our investments are set forth below: | |||||||||
Accounting Method | September 30, | December 31, | |||||||
2014 | 2013 | ||||||||
in millions | |||||||||
Fair value: | |||||||||
Ziggo (a): | |||||||||
Not subject to re-use rights (39.0 million and 34.1 million shares, respectively) | $ | 1,825.40 | $ | 1,560.10 | |||||
Subject to re-use rights (18.0 million and 22.9 million shares, respectively) | 844.6 | 1,049.40 | |||||||
Total — Ziggo | 2,670.00 | 2,609.50 | |||||||
ITV - subject to re-use rights (b) | 875.7 | — | |||||||
Sumitomo (c) | 503.9 | 572.9 | |||||||
Other (d) | 314.7 | 299.4 | |||||||
Total — fair value | 4,364.30 | 3,481.80 | |||||||
Equity (e) | 165 | 8.9 | |||||||
Cost | 0.4 | 0.5 | |||||||
Total | $ | 4,529.70 | $ | 3,491.20 | |||||
_______________ | |||||||||
(a) | At September 30, 2014, we owned 57,000,738 shares of Ziggo. Our Ziggo shares represented 28.5% of the outstanding shares of Ziggo at September 30, 2014. At September 30, 2014, 19,965,600 of the Ziggo shares that we owned were (i) subject to a share collar (the Ziggo Collar) and (ii) pledged as collateral under a secured borrowing arrangement (the Ziggo Collar Loan). Under the terms of the Ziggo Collar, the counterparty had the right to re-use most of the Ziggo shares that were subject to the Ziggo Collar (up to an estimated 18.0 million shares at September 30, 2014), but we had the right to recall the shares that were re-used by the counterparty subject to certain costs. Pursuant to the terms of the Ziggo Collar, we lent to the counterparty 15.7 million Ziggo shares (the Lent Shares) on October 10, 2014. In addition, the counterparty had the right to retain 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 15.6 million shares at September 30, 2014). The decline in the number of shares subject to re-use rights is primarily attributable to a partial settlement in January 2014 of the Ziggo Collar and Ziggo Collar Loan. On November 5, 2014, in connection with our declaration that the Ziggo Offer is unconditional (see note 3), we announced that we are terminating the Ziggo Collar, which we expect to occur on November 6, 2014. In connection with the termination of the Ziggo Collar, we will settle the Ziggo Collar Loan and the counterparty will be relieved of its obligation to redeliver to us the Lent Shares. | ||||||||
(b) | On July 17, 2014, we acquired an aggregate of 259,820,065 shares of ITV plc (ITV) from British Sky Broadcasting Group plc at a price of £1.85 ($3.14 at the transaction date) per share, for a total investment of £480.7 million ($816.3 million at the transaction date). ITV is a commercial broadcaster in the U.K. Our ITV shares represented 6.4% of the total outstanding shares of ITV based on the most current publicly-available information. All of our ITV shares are subject to a share collar (the ITV Collar) and pledged as collateral under a secured borrowing arrangement (the ITV Collar Loan). Under the terms of the ITV Collar, the counterparty has the right to re-use all of the pledged ITV shares. For additional information regarding the ITV Collar Loan and the ITV Collar, including a description of the related re-use rights and the impact of the ITV Collar on the dividends we receive on our ITV shares, see note 5. | ||||||||
(c) | At September 30, 2014, 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, 2014. These shares secure a loan (the Sumitomo Collar Loan) to Liberty Programming Japan LLC, our wholly-owned subsidiary. | ||||||||
(d) | Includes various fair value investments, the most significant of which is our 17.0% interest in ITI Neovision S.A. (formerly Canal+ Cyfrowy S.A.), a privately-held direct-to-home (DTH) operator in Poland. | ||||||||
(e) | The September 30, 2014 amount includes our investment in All3Media Holdings Limited (All3Media), an independent television, film and digital production and distribution company in the U.K. Our investment in All3Media is held through our 50.0% interest in DLG Acquisition Limited (DLG), a joint venture between one of our subsidiaries and a subsidiary of Discovery Communications, Inc. (Discovery). In September 2014, we and a subsidiary of Discovery each contributed £90.0 million ($147.2 million at the transaction date) to DLG in connection with DLG’s acquisition of 100% of All3Media. |
Derivative_Instruments
Derivative Instruments | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||||||||||
Derivative Instruments | ' | |||||||||||||||||||||||
Derivative Instruments | ||||||||||||||||||||||||
In general, we seek to enter into derivative instruments to protect against (i) increases in the interest rates on our variable-rate debt and (ii) foreign currency movements, particularly with respect to borrowings that are denominated in a currency other than the functional currency of the borrowing entity. In this regard, through our subsidiaries, we have entered into various derivative instruments to manage interest rate exposure and foreign currency exposure with respect to the U.S. dollar ($), 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, 2014 | December 31, 2013 | |||||||||||||||||||||||
Current | Long-term (a) | Total | Current | Long-term (a) | Total | |||||||||||||||||||
in millions | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Cross-currency and interest rate derivative contracts (b) | $ | 451.7 | $ | 616.1 | $ | 1,067.80 | $ | 248.4 | $ | 520.8 | $ | 769.2 | ||||||||||||
Equity-related derivative instruments (c) | — | 453.3 | 453.3 | — | 430.4 | 430.4 | ||||||||||||||||||
Foreign currency forward contracts | 5.8 | — | 5.8 | 2.6 | — | 2.6 | ||||||||||||||||||
Other | 0.6 | 0.7 | 1.3 | 1.1 | 0.9 | 2 | ||||||||||||||||||
Total | $ | 458.1 | $ | 1,070.10 | $ | 1,528.20 | $ | 252.1 | $ | 952.1 | $ | 1,204.20 | ||||||||||||
Liabilities: | ||||||||||||||||||||||||
Cross-currency and interest rate derivative contracts (b) | $ | 1,035.00 | $ | 1,556.90 | $ | 2,591.90 | $ | 727.2 | $ | 2,191.40 | $ | 2,918.60 | ||||||||||||
Equity-related derivative instruments (c) | 160.1 | 60.8 | 220.9 | 15.6 | 101.3 | 116.9 | ||||||||||||||||||
Foreign currency forward contracts | 0.9 | — | 0.9 | 8.2 | 12 | 20.2 | ||||||||||||||||||
Other | 0.2 | 0.2 | 0.4 | 0.2 | 0.6 | 0.8 | ||||||||||||||||||
Total | $ | 1,196.20 | $ | 1,617.90 | $ | 2,814.10 | $ | 751.2 | $ | 2,305.30 | $ | 3,056.50 | ||||||||||||
_______________ | ||||||||||||||||||||||||
(a) | 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, 2014 and December 31, 2013, (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 $25.2 million and $9.8 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 $102.2 million and $173.0 million, respectively. The adjustments to our derivative assets relate to the credit 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 a net gain (loss) of ($31.2 million) and $85.1 million during the three months ended September 30, 2014 and 2013, respectively, and a net gain (loss) of ($80.1 million) and $39.6 million during the nine months ended September 30, 2014 and 2013, respectively. These amounts are included in realized and unrealized gains (losses) on derivative instruments, net, in our condensed consolidated statements of operations. For further information concerning our fair value measurements, see note 6. | |||||||||||||||||||||||
(c) | Our equity-related derivative instruments include the fair value of (i) the Ziggo Collar, as described in note 4, (ii) as of September 30, 2014, the ITV Collar, (iii) the share collar (the Sumitomo Collar) with respect to the Sumitomo shares held by our company and (iv) Virgin Media’s conversion hedges (the Virgin Media Capped Calls) with respect to the VM Convertible Notes, as defined and described in note 8. The fair values of the Ziggo Collar, the ITV 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, the ITV Collar and the Sumitomo Collar. | |||||||||||||||||||||||
The details of our realized and unrealized gains (losses) on derivative instruments, net, are as follows: | ||||||||||||||||||||||||
Three months ended | Nine months ended | |||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Cross-currency and interest rate derivative contracts | $ | 611.3 | $ | (727.2 | ) | $ | (94.6 | ) | $ | (384.2 | ) | |||||||||||||
Equity-related derivative instruments: | ||||||||||||||||||||||||
Ziggo Collar | (68.1 | ) | (65.7 | ) | (74.0 | ) | (65.7 | ) | ||||||||||||||||
ITV Collar | (65.2 | ) | — | (65.2 | ) | — | ||||||||||||||||||
Sumitomo Collar | 29 | (34.3 | ) | 13.7 | (174.3 | ) | ||||||||||||||||||
Virgin Media Capped Calls | 0.3 | 5.8 | 1.2 | (3.8 | ) | |||||||||||||||||||
Total equity-related derivative instruments | (104.0 | ) | (94.2 | ) | (124.3 | ) | (243.8 | ) | ||||||||||||||||
Foreign currency forward contracts | 21.5 | (55.3 | ) | 41.9 | (56.4 | ) | ||||||||||||||||||
Other | (0.9 | ) | 1.3 | (0.3 | ) | 1.1 | ||||||||||||||||||
Total | $ | 527.9 | $ | (875.4 | ) | $ | (177.3 | ) | $ | (683.3 | ) | |||||||||||||
The net cash received or paid related to 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 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, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Operating activities | $ | (415.5 | ) | $ | (393.4 | ) | ||||||||||||||||||
Investing activities | (16.6 | ) | (66.6 | ) | ||||||||||||||||||||
Financing activities | (146.7 | ) | 537 | |||||||||||||||||||||
Total | $ | (578.8 | ) | $ | 77 | |||||||||||||||||||
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 generally do not post collateral or other security, nor have we entered into master netting arrangements with any of our counterparties. At September 30, 2014, our exposure to counterparty credit risk included derivative assets with an aggregate fair value of $780.9 million. | ||||||||||||||||||||||||
Details of our Derivative Instruments | ||||||||||||||||||||||||
In the following tables, we present the details of the various categories of our subsidiaries’ derivative instruments. 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. In addition, for derivative instruments that were in effect as of September 30, 2014, we present a single date that represents the applicable final maturity date. For derivative instruments that become effective subsequent to September 30, 2014, we present a range of dates that represents the period covered by the applicable derivative instruments. | ||||||||||||||||||||||||
Cross-currency and Interest Rate Derivative Contracts | ||||||||||||||||||||||||
Cross-currency Swaps: | ||||||||||||||||||||||||
The terms of our outstanding cross-currency swap contracts at September 30, 2014 are as follows: | ||||||||||||||||||||||||
Subsidiary / | Notional | Notional | Interest rate | Interest rate | ||||||||||||||||||||
Final maturity date | amount | amount | due from | due to | ||||||||||||||||||||
due from | due to | counterparty | counterparty | |||||||||||||||||||||
counterparty | counterparty | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Virgin Media Investment Holdings Limited (VMIH), a subsidiary of Virgin Media: | ||||||||||||||||||||||||
Feb-22 | $ | 1,400.00 | £ | 873.6 | 5.01% | 5.49% | ||||||||||||||||||
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-21 | $ | 500 | £ | 308.9 | 5.25% | 6 mo. GBP LIBOR + 2.06% | ||||||||||||||||||
Jan-22 | $ | 425 | £ | 255.8 | 5.50% | 5.82% | ||||||||||||||||||
Oct-14 | $ | 330 | £ | 199.4 | 8.38% | 9.08% | ||||||||||||||||||
October 2014 - October 2022 | $ | 330 | £ | 199.4 | 6.00% | 6.44% | ||||||||||||||||||
Apr-19 | $ | 291.5 | £ | 186.2 | 5.38% | 5.49% | ||||||||||||||||||
Oct-19 | $ | 170 | £ | 102.9 | 8.38% | 9.05% | ||||||||||||||||||
November 2016 (a) | $ | 55 | £ | 27.7 | 6.50% | 7.03% | ||||||||||||||||||
October 2019 - October 2022 | $ | 50 | £ | 30.7 | 6.00% | 5.75% | ||||||||||||||||||
UPC Broadband Holding BV (UPC Broadband Holding), a subsidiary of UPC Holding: | ||||||||||||||||||||||||
Jul-18 | $ | 525 | € | 396.3 | 6 mo. LIBOR + 1.99% | 6.25% | ||||||||||||||||||
Dec-14 | $ | 340 | € | 244.6 | 6 mo. LIBOR | 6 mo. EURIBOR | ||||||||||||||||||
Subsidiary / | Notional | Notional | Interest rate | Interest rate | ||||||||||||||||||||
Final maturity date | amount | amount | due from | due to | ||||||||||||||||||||
due from | due to | counterparty | counterparty | |||||||||||||||||||||
counterparty | counterparty | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Jan-20 | $ | 327.5 | € | 249.5 | 6 mo. LIBOR + 4.92% | 7.52% | ||||||||||||||||||
January 2015 - July 2021 | $ | 312 | € | 240 | 6 mo. LIBOR + 2.50% | 6 mo. EURIBOR + 2.87% | ||||||||||||||||||
Jan-15 | $ | 300 | € | 226.5 | 6 mo. LIBOR + 1.75% | 5.78% | ||||||||||||||||||
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% | ||||||||||||||||||
Nov-19 | $ | 250 | € | 181.5 | 7.25% | 7.74% | ||||||||||||||||||
Nov-21 | $ | 250 | € | 181.4 | 7.25% | 7.50% | ||||||||||||||||||
December 2014 - July 2018 | $ | 200 | € | 151 | 6 mo. LIBOR + 3.00% | 7.31% | ||||||||||||||||||
Jan-20 | $ | 197.5 | € | 150.5 | 6 mo. LIBOR + 4.92% | 6 mo. EURIBOR + 4.91% | ||||||||||||||||||
Jul-21 | $ | 128 | € | 97.2 | 6 mo. LIBOR + 2.50% | 6 mo. EURIBOR + 2.90% | ||||||||||||||||||
January 2015 - July 2018 | $ | 100 | € | 75.4 | 6 mo. LIBOR + 1.75% | 5.77% | ||||||||||||||||||
January 2015 - July 2021 | $ | 405.9 | CHF | 373.1 | 6 mo. LIBOR + 2.50% | 6 mo. CHF LIBOR + 2.63% | ||||||||||||||||||
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% | ||||||||||||||||||
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% | ||||||||||||||||||
Jan-15 | $ | 171.5 | CHF | 187.1 | 6 mo. LIBOR + 2.75% | 6 mo. CHF LIBOR + 2.95% | ||||||||||||||||||
Dec-14 | $ | 340 | CLP | 181,322.00 | 6 mo. LIBOR + 1.75% | 8.76% | ||||||||||||||||||
Jul-20 | $ | 201.5 | RON | 489.3 | 6 mo. LIBOR + 3.50% | 11.34% | ||||||||||||||||||
Jan-15 | € | 898.4 | CHF | 1,466.00 | 6 mo. EURIBOR + 1.68% | 6 mo. CHF LIBOR + 1.94% | ||||||||||||||||||
January 2015 - January 2021 | € | 720.8 | CHF | 877 | 6 mo. EURIBOR + 2.50% | 6 mo. CHF LIBOR + 2.62% | ||||||||||||||||||
January 2015 - September 2022 | € | 383.8 | CHF | 477 | 6 mo. EURIBOR + 2.00% | 6 mo. CHF LIBOR + 2.22% | ||||||||||||||||||
January 2015 - January 2017 | € | 360.4 | CHF | 589 | 6 mo. EURIBOR + 3.75% | 6 mo. CHF LIBOR + 3.94% | ||||||||||||||||||
Apr-18 | € | 285.1 | CHF | 346.7 | 10.51% | 9.87% | ||||||||||||||||||
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% | ||||||||||||||||||
Dec-14 | € | 134.2 | CLP | 107,800.00 | 6 mo. EURIBOR + 2.00% | 10.00% | ||||||||||||||||||
Dec-15 | € | 69.1 | CLP | 53,000.00 | 3.50% | 5.75% | ||||||||||||||||||
Jan-15 | € | 365.8 | CZK | 10,521.80 | 5.48% | 5.99% | ||||||||||||||||||
January 2015 - January 2020 | € | 318.9 | CZK | 8,818.70 | 5.58% | 5.44% | ||||||||||||||||||
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% | ||||||||||||||||||
Subsidiary / | Notional | Notional | Interest rate | Interest rate | ||||||||||||||||||||
Final maturity date | amount | amount | due from | due to | ||||||||||||||||||||
due from | due to | counterparty | counterparty | |||||||||||||||||||||
counterparty | counterparty | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
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 | € | 400.5 | PLN | 1,605.60 | 5.50% | 7.50% | ||||||||||||||||||
January 2015 - January 2017 | € | 245 | PLN | 1,000.60 | 5.50% | 9.03% | ||||||||||||||||||
Sep-16 | € | 200 | PLN | 892.7 | 6.00% | 8.19% | ||||||||||||||||||
January 2015 - January 2020 | € | 144.6 | PLN | 605 | 5.50% | 7.98% | ||||||||||||||||||
Jul-17 | € | 82 | PLN | 318 | 3.00% | 5.60% | ||||||||||||||||||
Dec-14 | CLP 181,322.0 | $ | 340 | 8.76% | 6 mo. LIBOR + 1.75% | |||||||||||||||||||
Dec-14 | CLP 107,800.0 | EUR | 134.2 | 10.00% | 6 mo. EURIBOR + 2.00% | |||||||||||||||||||
Dec-15 | CLP 53,000.0 | EUR | 69.1 | 5.75% | 3.50% | |||||||||||||||||||
Unitymedia Hessen GmbH & Co. KG (Unitymedia Hessen), a subsidiary of Unitymedia KabelBW: | ||||||||||||||||||||||||
Jan-21 | $ | 797.1 | € | 546.5 | 5.50% | 5.60% | ||||||||||||||||||
Mar-19 | $ | 459.3 | € | 326.5 | 7.50% | 7.98% | ||||||||||||||||||
Jan-23 | $ | 202.9 | € | 141.7 | 5.50% | 5.33% | ||||||||||||||||||
VTR GlobalCom: | ||||||||||||||||||||||||
Jan-22 | $ | 1,400.00 | CLP | 760,340.00 | 6.88% | 10.94% | ||||||||||||||||||
_______________ | ||||||||||||||||||||||||
(a) | Unlike the other cross-currency swaps presented in this table, the identified cross-currency swap does not involve the exchange of notional amounts at the inception and maturity of the instrument. Accordingly, the only cash flows associated with this instrument are interest payments and receipts. | |||||||||||||||||||||||
Interest Rate Swaps: | ||||||||||||||||||||||||
The terms of our outstanding interest rate swap contracts at September 30, 2014 are as follows: | ||||||||||||||||||||||||
Subsidiary / Final maturity date | 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 | 2.90% | ||||||||||||||||||||
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-15 | € | 1,554.00 | 1 mo. EURIBOR + 3.75% | 6 mo. EURIBOR + 3.56% | ||||||||||||||||||||
Jan-15 | € | 1,364.80 | 6 mo. EURIBOR | 3.44% | ||||||||||||||||||||
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% | ||||||||||||||||||||
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% | ||||||||||||||||||||
January 2015 - January 2018 | € | 175 | 6 mo. EURIBOR | 3.74% | ||||||||||||||||||||
January 2015 - July 2020 | € | 171.3 | 6 mo. EURIBOR | 3.95% | ||||||||||||||||||||
Jul-20 | € | 171.3 | 6 mo. EURIBOR | 4.32% | ||||||||||||||||||||
Dec-14 | € | 107 | 6 mo. EURIBOR | 4.73% | ||||||||||||||||||||
January 2015 - November 2021 | € | 107 | 6 mo. EURIBOR | 2.89% | ||||||||||||||||||||
Jan-15 | 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), a subsidiary of Telenet: | ||||||||||||||||||||||||
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 | 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% | ||||||||||||||||||||
Interest Rate Caps | ||||||||||||||||||||||||
Our purchased and sold interest rate cap contracts with respect to EURIBOR at September 30, 2014 are detailed below: | ||||||||||||||||||||||||
Subsidiary / Final maturity date | Notional amount | EURIBOR cap rate | ||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Interest rate caps purchased (a): | ||||||||||||||||||||||||
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 | € | 0.8 | 6.50% | |||||||||||||||||||||
Dec-17 | € | 0.8 | 5.50% | |||||||||||||||||||||
Interest rate cap sold (b): | ||||||||||||||||||||||||
UPC Broadband Holding: | ||||||||||||||||||||||||
January 2015 - January 2020 | € | 735 | 7.00% | |||||||||||||||||||||
_______________ | ||||||||||||||||||||||||
(a) | Our purchased interest rate caps entitle us to receive payments from the counterparty when EURIBOR exceeds the EURIBOR cap rate. | |||||||||||||||||||||||
(b) | 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 at September 30, 2014, as detailed below: | ||||||||||||||||||||||||
Subsidiary / Final maturity date | Notional | EURIBOR floor rate (a) | EURIBOR cap rate (b) | |||||||||||||||||||||
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) | We make payments to the counterparty when EURIBOR is less than the EURIBOR floor rate. | |||||||||||||||||||||||
(b) | We receive payments from the counterparty when EURIBOR is greater than the EURIBOR cap rate. | |||||||||||||||||||||||
Equity-Related Derivative Instruments | ||||||||||||||||||||||||
ITV Collar and Secured Borrowing. In July 2014, our wholly-owned subsidiary, Liberty Global Incorporated Limited (Liberty Global Limited) entered into the ITV Collar with respect to all 259,820,065 of our ITV shares. The ITV Collar is comprised of (i) purchased put options exercisable by Liberty Global Limited and (ii) written call options exercisable by the counterparty. The ITV Collar effectively hedges the value of our investment in ITV 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 ITV, see note 4. | ||||||||||||||||||||||||
The ITV Collar and related agreements also provided Liberty Global Limited with the ability to effectively finance the purchase of its ITV shares pursuant to the ITV Collar Loan. In this regard, in July 2014, we borrowed £446.9 million ($764.5 million at the transaction date) under the ITV Collar Loan. At September 30, 2014, borrowings under the ITV Collar Loan were secured by all 259,820,065 of our ITV shares, which have been placed into a custody account. The ITV Collar Loan was issued at a discount with a zero coupon rate and an average implied yield of 173 basis points (1.73%). The ITV 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. Under the terms of the ITV Collar, the counterparty has the right to re-use the pledged ITV shares held in the custody account, but we have the right to recall the shares that are re-used by the counterparty subject to certain costs. In addition, the counterparty retains dividends on the ITV shares that the counterparty would need to borrow from the custody account to hedge its exposure under the ITV Collar (an estimated 205 million shares at September 30, 2014). | ||||||||||||||||||||||||
Foreign Currency Forwards | ||||||||||||||||||||||||
The following table summarizes our outstanding foreign currency forward contracts at September 30, 2014: | ||||||||||||||||||||||||
Subsidiary | Currency | Currency | Maturity dates | |||||||||||||||||||||
purchased | sold | |||||||||||||||||||||||
forward | forward | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
LGE Financing | $ | 301.4 | € | 236.5 | Oct-14 | |||||||||||||||||||
LGE Financing | £ | 52.5 | € | 67.2 | Oct-14 | |||||||||||||||||||
UPC Broadband Holding | $ | 1.5 | CZK | 29.8 | October 2014 - March 2015 | |||||||||||||||||||
UPC Broadband Holding | € | 30.6 | CHF | 37.3 | October 2014 - September 2015 | |||||||||||||||||||
UPC Broadband Holding | € | 9 | CZK | 244.5 | October 2014 - March 2015 | |||||||||||||||||||
UPC Broadband Holding | € | 8.2 | HUF | 2,550.00 | October 2014 - March 2015 | |||||||||||||||||||
UPC Broadband Holding | € | 24 | PLN | 102.4 | October 2014 - March 2015 | |||||||||||||||||||
UPC Broadband Holding | £ | 2.1 | € | 2.5 | October 2014 - March 2015 | |||||||||||||||||||
UPC Broadband Holding | CHF | 22 | € | 18.2 | Oct-14 | |||||||||||||||||||
UPC Broadband Holding | CZK | 300 | € | 10.9 | Oct-14 | |||||||||||||||||||
UPC Broadband Holding | HUF | 4,500.00 | € | 14.5 | Oct-14 | |||||||||||||||||||
UPC Broadband Holding | PLN | 55 | € | 13.2 | Oct-14 | |||||||||||||||||||
UPC Broadband Holding | RON | 33.5 | € | 7.6 | Oct-14 | |||||||||||||||||||
Telenet NV | $ | 10.5 | € | 7.7 | October 2014 - December 2014 | |||||||||||||||||||
VTR GlobalCom | $ | 28.2 | CLP | 16,248.60 | October 2014 - September 2015 | |||||||||||||||||||
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
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, 2014 likely will not represent the value that will be paid or received 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 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, 2014, 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, ITV 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 for the valuations of our Level 3 investments 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, 2014 valuation of the Ziggo Collar and the ITV Collar, we used average forecasted volatilities of 22.9% and 25.7%, respectively. At September 30, 2014, the valuations of the Sumitomo Collar and the Virgin Media Capped Calls were not significantly impacted by forecasted volatilities. | ||||||||||||||||
As further described in note 5, 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 5. | ||||||||||||||||
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 valuation of the customer relationships acquired as a result of this acquisition. For additional information, see note 3. We did not perform significant nonrecurring fair value measurements during the nine months ended September 30, 2014. | ||||||||||||||||
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, 2014 using: | ||||||||||||||||
Description | September 30, | Quoted prices | Significant | Significant | ||||||||||||
2014 | 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 | $ | 1,067.80 | $ | — | $ | 1,067.80 | $ | — | ||||||||
Equity-related derivative instruments | 453.3 | — | — | 453.3 | ||||||||||||
Foreign currency forward contracts | 5.8 | — | 5.8 | — | ||||||||||||
Other | 1.3 | — | 1.3 | — | ||||||||||||
Total derivative instruments | 1,528.20 | — | 1,074.90 | 453.3 | ||||||||||||
Investments | 4,364.30 | 4,049.60 | — | 314.7 | ||||||||||||
Total assets | $ | 5,892.50 | $ | 4,049.60 | $ | 1,074.90 | $ | 768 | ||||||||
Liabilities - derivative instruments: | ||||||||||||||||
Cross-currency and interest rate derivative contracts | $ | 2,591.90 | $ | — | $ | 2,591.90 | $ | — | ||||||||
Equity-related derivative instruments | 220.9 | — | — | 220.9 | ||||||||||||
Foreign currency forward contracts | 0.9 | — | 0.9 | — | ||||||||||||
Other | 0.4 | — | 0.4 | — | ||||||||||||
Total liabilities | $ | 2,814.10 | $ | — | $ | 2,593.20 | $ | 220.9 | ||||||||
Fair value measurements at | ||||||||||||||||
December 31, 2013 using: | ||||||||||||||||
Description | December 31, 2013 | 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 | $ | 769.2 | $ | — | $ | 769.2 | $ | — | ||||||||
Equity-related derivative instruments | 430.4 | — | — | 430.4 | ||||||||||||
Foreign currency forward contracts | 2.6 | — | 2.6 | — | ||||||||||||
Other | 2 | — | 2 | — | ||||||||||||
Total derivative instruments | 1,204.20 | — | 773.8 | 430.4 | ||||||||||||
Investments | 3,481.80 | 3,182.40 | — | 299.4 | ||||||||||||
Total assets | $ | 4,686.00 | $ | 3,182.40 | $ | 773.8 | $ | 729.8 | ||||||||
Liabilities - derivative instruments: | ||||||||||||||||
Cross-currency and interest rate derivative contracts | $ | 2,918.60 | $ | — | $ | 2,918.60 | $ | — | ||||||||
Equity-related derivative instruments | 116.9 | — | — | 116.9 | ||||||||||||
Foreign currency forward contracts | 20.2 | — | 20.2 | — | ||||||||||||
Other | 0.8 | — | 0.8 | — | ||||||||||||
Total liabilities | $ | 3,056.50 | $ | — | $ | 2,939.60 | $ | 116.9 | ||||||||
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, 2014 | $ | 299.4 | $ | 313.5 | $ | 612.9 | ||||||||||
Partial settlement of the Ziggo Collar (a) | — | 17.9 | 17.9 | |||||||||||||
Gains (losses) included in net loss (b): | ||||||||||||||||
Realized and unrealized losses on derivative instruments, net | — | (124.3 | ) | (124.3 | ) | |||||||||||
Realized and unrealized gains due to changes in fair values of certain investments, net | 29.5 | — | 29.5 | |||||||||||||
Foreign currency translation adjustments and other, net | (14.2 | ) | 25.3 | 11.1 | ||||||||||||
Balance of net assets at September 30, 2014 | $ | 314.7 | $ | 232.4 | $ | 547.1 | ||||||||||
_______________ | ||||||||||||||||
(a) | For additional information regarding the Ziggo Collar, see note 4. | |||||||||||||||
(b) | Most of these net gains (losses) relate to assets and liabilities that we continue to carry on our condensed consolidated balance sheet as of September 30, 2014. |
Longlived_Assets
Long-lived Assets | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Long lived Assets | ' | ||||||||||||||||||||||||
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, | ||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||
Distribution systems | $ | 24,884.20 | $ | 25,193.20 | |||||||||||||||||||||
Customer premises equipment | 6,297.10 | 6,126.00 | |||||||||||||||||||||||
Support equipment, buildings and land | 3,706.10 | 3,581.90 | |||||||||||||||||||||||
34,887.40 | 34,901.10 | ||||||||||||||||||||||||
Accumulated depreciation | (12,767.8 | ) | (10,926.2 | ) | |||||||||||||||||||||
Total property and equipment, net | $ | 22,119.60 | $ | 23,974.90 | |||||||||||||||||||||
During the nine months ended September 30, 2014 and 2013, we recorded non-cash increases to our property and equipment related to assets acquired under capital leases of $106.6 million and $108.3 million, respectively. In addition, during the nine months ended September 30, 2014 and 2013, we recorded non-cash increases related to vendor financing arrangements of $677.9 million and $366.0 million, respectively, which exclude related value-added taxes (VAT) of $76.1 million and $28.9 million, respectively, that were also financed by our vendors under these arrangements. | |||||||||||||||||||||||||
Goodwill | |||||||||||||||||||||||||
Changes in the carrying amount of our goodwill during the nine months ended September 30, 2014 are set forth below: | |||||||||||||||||||||||||
1-Jan-14 | Acquisitions | Foreign | September 30, | ||||||||||||||||||||||
and related | currency | 2014 | |||||||||||||||||||||||
adjustments | translation | ||||||||||||||||||||||||
adjustments and other | |||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||
European Operations Division: | |||||||||||||||||||||||||
U.K. (Virgin Media) | $ | 9,598.20 | $ | — | $ | (201.1 | ) | $ | 9,397.10 | ||||||||||||||||
Germany (Unitymedia KabelBW) | 3,939.40 | — | (331.4 | ) | 3,608.00 | ||||||||||||||||||||
Belgium (Telenet) | 2,255.10 | — | (189.7 | ) | 2,065.40 | ||||||||||||||||||||
The Netherlands | 1,260.40 | — | (106.1 | ) | 1,154.30 | ||||||||||||||||||||
Switzerland | 3,197.40 | — | (221.4 | ) | 2,976.00 | ||||||||||||||||||||
Other Western Europe | 1,079.70 | — | (90.8 | ) | 988.9 | ||||||||||||||||||||
Total Western Europe | 21,330.20 | — | (1,140.5 | ) | 20,189.70 | ||||||||||||||||||||
Central and Eastern Europe | 1,520.10 | 5.1 | (147.2 | ) | 1,378.00 | ||||||||||||||||||||
Total European Operations Division | 22,850.30 | 5.1 | (1,287.7 | ) | 21,567.70 | ||||||||||||||||||||
Chile (VTR) | 508.5 | — | (61.9 | ) | 446.6 | ||||||||||||||||||||
Corporate and other | 390 | — | (8.4 | ) | 381.6 | ||||||||||||||||||||
Total | $ | 23,748.80 | $ | 5.1 | $ | (1,358.0 | ) | $ | 22,395.90 | ||||||||||||||||
Intangible Assets Subject to Amortization, Net | |||||||||||||||||||||||||
The details of our intangible assets subject to amortization are set forth below: | |||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Gross carrying amount | Accumulated amortization | Net carrying amount | Gross carrying amount | Accumulated amortization | Net carrying amount | ||||||||||||||||||||
in millions | |||||||||||||||||||||||||
Customer relationships | $ | 7,589.20 | $ | (2,886.1 | ) | $ | 4,703.10 | $ | 8,116.70 | $ | (2,458.4 | ) | $ | 5,658.30 | |||||||||||
Other | 244.3 | (132.0 | ) | 112.3 | 288.1 | (151.0 | ) | 137.1 | |||||||||||||||||
Total | $ | 7,833.50 | $ | (3,018.1 | ) | $ | 4,815.40 | $ | 8,404.80 | $ | (2,609.4 | ) | $ | 5,795.40 | |||||||||||
Debt_and_Capital_Lease_Obligat
Debt and Capital Lease Obligations | 9 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||
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, 2014 | Carrying value (d) | ||||||||||||||||||||||||||
Weighted | Unused borrowing capacity (b) | Estimated fair value (c) | |||||||||||||||||||||||||
average | |||||||||||||||||||||||||||
interest | |||||||||||||||||||||||||||
rate (a) | Borrowing currency | U.S. $ | 30-Sep-14 | 31-Dec-13 | 30-Sep-14 | December 31, 2013 | |||||||||||||||||||||
equivalent | |||||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||||
Debt: | |||||||||||||||||||||||||||
VM Notes | 6.11 | % | — | $ | — | $ | 8,384.50 | $ | 9,188.70 | $ | 8,272.50 | $ | 9,150.10 | ||||||||||||||
VM Credit Facility | 3.77 | % | £ | 660 | 1,070.60 | 4,821.20 | 4,388.90 | 4,887.90 | 4,352.80 | ||||||||||||||||||
VM Convertible Notes (e) | 6.5 | % | — | — | 159.8 | 164.1 | 57 | 57.5 | |||||||||||||||||||
UPCB SPE Notes | 6.88 | % | — | — | 4,322.40 | 4,536.50 | 4,075.20 | 4,219.50 | |||||||||||||||||||
UPC Broadband Holding Bank Facility | 3.57 | % | € | 1,016.20 | 1,283.40 | 3,238.50 | 5,717.80 | 3,261.00 | 5,671.40 | ||||||||||||||||||
UPC Holding Senior Notes (f) | 7.16 | % | — | — | 2,719.30 | 3,297.40 | 2,495.10 | 3,099.20 | |||||||||||||||||||
Unitymedia KabelBW Notes | 6.87 | % | — | — | 7,624.40 | 8,058.20 | 7,130.70 | 7,651.90 | |||||||||||||||||||
Unitymedia KabelBW Revolving Credit Facilities | — | € | 500 | 631.4 | — | — | — | — | |||||||||||||||||||
Telenet SPE Notes | 5.93 | % | — | — | 2,553.90 | 2,916.50 | 2,399.50 | 2,759.20 | |||||||||||||||||||
Telenet Credit Facility | 3.42 | % | € | 322.9 | 407.8 | 1,709.60 | 1,956.90 | 1,710.20 | 1,936.90 | ||||||||||||||||||
VTR Finance Senior Secured Notes | 6.88 | % | — | — | 1,451.60 | — | 1,400.00 | — | |||||||||||||||||||
Sumitomo Collar Loan | 1.88 | % | — | — | 895.7 | 939.3 | 859.8 | 894.3 | |||||||||||||||||||
ITV Collar Loan (g) | 1.73 | % | — | — | 695.2 | — | 691.2 | — | |||||||||||||||||||
Liberty Puerto Rico Bank Facility | 5.2 | % | $ | 40 | 40 | 669.1 | 666.2 | 671.9 | 665 | ||||||||||||||||||
Ziggo Collar Loan | 0.45 | % | — | — | 631.8 | 852.9 | 626.9 | 852.6 | |||||||||||||||||||
Ziggo Margin Loan (h) | — | — | — | — | 634.3 | — | 634.3 | ||||||||||||||||||||
Vendor financing (i) | 3.57 | % | — | — | 759 | 603.1 | 759 | 603.1 | |||||||||||||||||||
Other (j) | 8.97 | % | (k) | 196.8 | 185.9 | 308.2 | 185.9 | 308.2 | |||||||||||||||||||
Total debt | 5.48 | % | $ | 3,630.00 | $ | 40,821.90 | $ | 44,229.00 | 39,483.80 | 42,856.00 | |||||||||||||||||
Capital lease obligations: | |||||||||||||||||||||||||||
Unitymedia KabelBW | 852.3 | 952 | |||||||||||||||||||||||||
Telenet | 427 | 451.2 | |||||||||||||||||||||||||
Virgin Media | 298.9 | 373.5 | |||||||||||||||||||||||||
Other subsidiaries | 70.8 | 71.6 | |||||||||||||||||||||||||
Total capital lease obligations | 1,649.00 | 1,848.30 | |||||||||||||||||||||||||
Total debt and capital lease obligations | 41,132.80 | 44,704.30 | |||||||||||||||||||||||||
Current maturities | (1,669.0 | ) | (1,023.4 | ) | |||||||||||||||||||||||
Long-term debt and capital lease obligations | $ | 39,463.80 | $ | 43,680.90 | |||||||||||||||||||||||
_______________ | |||||||||||||||||||||||||||
(a) | Represents the weighted average interest rate in effect at September 30, 2014 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 instruments, 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 6.5% at September 30, 2014. For information concerning our derivative instruments, see note 5. | ||||||||||||||||||||||||||
(b) | Unused borrowing capacity represents the maximum availability under the applicable facility at September 30, 2014 without regard to covenant compliance calculations or other conditions precedent to borrowing. At September 30, 2014, 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, 2014, our availability under the UPC Broadband Holding Bank Facility (as defined and described below) was limited to €951.6 million ($1,201.8 million). When the relevant September 30, 2014 compliance reporting requirements have been completed, and assuming no changes from September 30, 2014 borrowing levels, we anticipate that our availability under the UPC Broadband Holding Bank Facility will be limited to €906.7 million ($1,145.1 million). 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. At September 30, 2014, these restrictions did not impact our ability to access the liquidity of our subsidiaries to satisfy our corporate liquidity needs beyond what is described above, except that the availability to be loaned or distributed by Virgin Media was limited to £443.0 million ($718.6 million). When the relevant September 30, 2014 compliance reporting requirements have been completed and assuming no changes from September 30, 2014 borrowing levels, we anticipate that the availability to be loaned or distributed by Virgin Media will be limited to £508.8 million ($825.3 million). | ||||||||||||||||||||||||||
(c) | The estimated fair values of our debt instruments are 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 6. | ||||||||||||||||||||||||||
(d) | Amounts include the impact of premiums and discounts, where applicable. | ||||||||||||||||||||||||||
(e) | The 6.50% convertible senior notes issued by Virgin Media (the VM Convertible Notes) are exchangeable under certain conditions for (subject to further adjustment as provided in the underlying 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, 33.4963 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 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, 2014, including both the debt and equity components. | ||||||||||||||||||||||||||
(f) | During April 2014, we used existing cash to fully redeem UPC Holding’s $400.0 million principal amount of 9.875% senior notes due 2018 (the UPC Holding 9.875% Senior Notes). In connection with this transaction, we recognized a loss on debt modification and extinguishment, net, of $41.5 million, which includes (i) the payment of $19.7 million of redemption premium, (ii) the write-off of $17.4 million of unamortized discount and (iii) the write-off of $4.4 million of deferred financing costs. | ||||||||||||||||||||||||||
(g) | For information regarding the ITV Collar Loan, see note 5. | ||||||||||||||||||||||||||
(h) | During the first quarter of 2014, we used existing cash to repay the full amount of the limited recourse margin loan (the Ziggo Margin Loan) that was secured by a portion of our investment in Ziggo. In connection with this transaction, we recognized a loss on debt modification and extinguishment, net, of $2.3 million related to the write-off of deferred financing costs. For information regarding our investment in Ziggo, see note 4. | ||||||||||||||||||||||||||
(i) | Represents amounts owed pursuant to interest-bearing vendor financing arrangements that are used to finance certain of our property and equipment additions. These obligations are generally due within one year. At September 30, 2014 and December 31, 2013, the amounts owed pursuant to these arrangements include $74.4 million and $47.3 million, respectively, of VAT that was 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. | ||||||||||||||||||||||||||
(j) | The December 31, 2013 amounts include outstanding borrowings of $113.1 million under VTR Wireless’s then-existing CLP 60.0 billion ($100.3 million) term loan bank facility (the VTR Wireless Bank Facility). In January 2014, all outstanding amounts under the VTR Wireless Bank Facility were repaid and the VTR Wireless Bank Facility was cancelled. In connection with this transaction, we recognized a loss on debt modification and extinguishment, net, of $2.0 million related to the write-off of deferred financing costs. | ||||||||||||||||||||||||||
(k) | Unused borrowing capacity relates to the senior secured revolving credit facility of entities within VTR, which includes a $160.0 million U.S. dollar facility (the VTR Dollar Senior Credit Facility) and a CLP 22.0 billion ($36.8 million) Chilean peso facility (the VTR CLP Senior Credit Facility), each of which were undrawn at September 30, 2014. The VTR Dollar Senior Credit Facility and the VTR CLP Senior Credit Facility have fees on unused commitments of 1.1% and 1.34% per year, respectively. | ||||||||||||||||||||||||||
VM Notes | |||||||||||||||||||||||||||
On March 28, 2014, Virgin Media Secured Finance PLC (Virgin Media Secured Finance), a wholly-owned subsidiary of Virgin Media, issued (i) $425.0 million principal amount of 5.5% senior secured notes due January 15, 2025 (the 2025 VM Dollar Senior Secured Notes), (ii) £430.0 million ($697.5 million) principal amount of 5.5% senior secured notes due January 15, 2025 (the 2025 VM Sterling Senior Secured Notes and, together with the 2025 VM Dollar Senior Secured Notes, the 2025 VM Senior Secured Notes) and (iii) £225.0 million ($365.0 million) principal amount of 6.25% senior secured notes due March 28, 2029 (the Original 2029 VM Senior Secured Notes). In April 2014, the net proceeds from the 2025 VM Senior Secured Notes and the Original 2029 VM Senior Secured Notes were used to redeem all of the £875.0 million ($1,419.3 million) principal amount of 7.0% senior secured notes due 2018 (the 2018 VM Sterling Senior Secured Notes). In connection with these transactions, we recognized a gain on debt modification and extinguishment, net, of $5.2 million, which includes (i) the write-off of $61.8 million of unamortized premium, (ii) the payment of $51.3 million of redemption premium and (iii) the write-off of $5.3 million of deferred financing costs. | |||||||||||||||||||||||||||
In April 2014, (i) Virgin Media Secured Finance issued £175.0 million ($283.9 million) principal amount of 6.25% senior secured notes due March 28, 2029 (the Additional 2029 VM Senior Secured Notes and, together with the Original 2029 VM Senior Secured Notes, the 2029 VM Senior Secured Notes) at an issue price of 101.75% and (ii) Virgin Media entered into (a) a new £100.0 million ($162.2 million) term loan (VM Facility D) and (b) a new £849.4 million ($1,377.8 million) term loan (VM Facility E), each under the VM Credit Facility (as defined and described below). In connection with these transactions, (1) certain lenders under the existing £600.0 million ($973.2 million) term loan (VM Facility C) under the VM Credit Facility effectively rolled £500.4 million ($811.7 million) of their drawn commitments under VM Facility C to VM Facilities D and E and (2) the remaining outstanding balance of VM Facility C was repaid with existing liquidity. VM Facilities D and E were fully drawn in May 2014, and the net proceeds, together with the net proceeds from the Additional 2029 VM Senior Secured Notes, were used to fully redeem the $1.0 billion principal amount of 6.5% senior secured notes due 2018 (the 2018 VM Dollar Senior Secured Notes). In connection with these transactions, we recognized a loss on debt modification and extinguishment, net, of $5.4 million, which includes (i) the write-off of $33.9 million of unamortized premium, (ii) the payment of $32.4 million of redemption premium and (iii) the write-off of $6.9 million of deferred financing costs. | |||||||||||||||||||||||||||
The 2025 VM Senior Secured Notes and the 2029 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 2025 VM Senior Secured Notes and the 2029 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). | |||||||||||||||||||||||||||
The 2025 VM Senior Secured Notes and the 2029 VM 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 Net Leverage Ratio test, as defined in the applicable indenture. In addition, the 2025 VM Senior Secured Notes and the 2029 VM Senior Secured 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 £75.0 million ($121.7 million) or more in the aggregate of VMIH or the Restricted Subsidiaries (as defined in the applicable indenture) is an event of default under the 2025 VM Senior Secured Notes and the 2029 VM Senior Secured Notes. | |||||||||||||||||||||||||||
Subject to the circumstances described below, the 2025 VM Senior Secured Notes are non-callable until January 15, 2019 and the 2029 VM Senior Secured Notes are non-callable until January 15, 2021. At any time prior to January 15, 2019, in the case of the 2025 VM Senior Secured Notes, or January 15, 2021, in the case of the 2029 VM Senior Secured Notes, Virgin Media Secured Finance may redeem some or all of the 2025 VM Senior Secured Notes or the 2029 VM Senior Secured Notes (as applicable) by paying a “make-whole” premium, which is the present value of all remaining scheduled interest payments to January 15, 2019 or January 15, 2021 (as applicable) using the discount rate (as specified in the applicable indenture) as of the redemption date plus 50 basis points. | |||||||||||||||||||||||||||
Virgin Media Secured Finance may redeem some or all of the 2025 VM Senior Secured Notes or the 2029 VM 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 applicable indenture), if any, to the applicable redemption date, if redeemed during the twelve-month period commencing on January 15 of the years set forth below: | |||||||||||||||||||||||||||
Redemption price | |||||||||||||||||||||||||||
Year | 2025 VM Senior Secured Notes | 2029 VM Senior Secured Notes | |||||||||||||||||||||||||
2019 | 102.75% | N.A. | |||||||||||||||||||||||||
2020 | 101.83% | N.A. | |||||||||||||||||||||||||
2021 | 100.00% | 103.13% | |||||||||||||||||||||||||
2022 | 100.00% | 102.08% | |||||||||||||||||||||||||
2023 | 100.00% | 101.04% | |||||||||||||||||||||||||
2024 and thereafter | 100.00% | 100.00% | |||||||||||||||||||||||||
If VMIH or the Restricted Subsidiaries (as defined in the applicable indenture) sell certain assets or if Virgin Media Communications Limited (Virgin Media Communications) or certain of its subsidiaries experience specific changes in control, Virgin Media Secured Finance must offer to repurchase the 2025 VM Senior Secured Notes or the 2029 VM Senior Secured Notes at a redemption price of 101%. | |||||||||||||||||||||||||||
VM Credit Facility | |||||||||||||||||||||||||||
The VM Credit Facility, as amended, is the senior secured credit facility of VMIH, together with certain other subsidiaries of Virgin Media. The details of our borrowings under the VM Credit Facility as of September 30, 2014 are summarized in the following table: | |||||||||||||||||||||||||||
Facility | Final maturity date | Interest rate | Facility amount | Unused | Carrying | ||||||||||||||||||||||
(in borrowing | borrowing | value (a) | |||||||||||||||||||||||||
currency) | capacity | ||||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||||
A | 7-Jun-19 | LIBOR + 3.25% | £ | 375 | $ | — | $ | 608.2 | |||||||||||||||||||
B | 7-Jun-20 | LIBOR + 2.75% (b) | $ | 2,755.00 | — | 2,743.50 | |||||||||||||||||||||
D | 30-Jun-22 | LIBOR + 3.25% (b) | £ | 100 | — | 161.8 | |||||||||||||||||||||
E | 30-Jun-23 | LIBOR + 3.50% (b) | £ | 849.4 | — | 1,374.40 | |||||||||||||||||||||
Revolving facility (c) | 7-Jun-19 | LIBOR + 3.25% | £ | 660 | 1,070.60 | — | |||||||||||||||||||||
Total | $ | 1,070.60 | $ | 4,887.90 | |||||||||||||||||||||||
_______________ | |||||||||||||||||||||||||||
(a) | The carrying values of VM Facilities B, D and E include the impact of discounts. | ||||||||||||||||||||||||||
(b) | VM Facilities B, D and E each have a LIBOR floor of 0.75%. | ||||||||||||||||||||||||||
(c) | The revolving facility has a fee on unused commitments of 1.3% per year. | ||||||||||||||||||||||||||
UPC Broadband Holding Bank Facility | |||||||||||||||||||||||||||
The UPC Broadband Holding Bank Facility, as amended, is the senior secured credit facility of UPC Broadband Holding. The details of our borrowings under the UPC Broadband Holding Bank Facility as of September 30, 2014 are summarized in the following table: | |||||||||||||||||||||||||||
Facility | Final maturity date | Interest rate | Facility amount | Unused | Carrying | ||||||||||||||||||||||
(in borrowing | borrowing | value (c) | |||||||||||||||||||||||||
currency) (a) | capacity (b) | ||||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||||
V (d) | January 15, 2020 | 7.63% | € | 500 | $ | — | $ | 631.5 | |||||||||||||||||||
Y (d) | July 1, 2020 | 6.38% | € | 750 | — | 947.2 | |||||||||||||||||||||
Z (d) | July 1, 2020 | 6.63% | $ | 1,000.00 | — | 1,000.00 | |||||||||||||||||||||
AC (d) | 15-Nov-21 | 7.25% | $ | 750 | — | 750 | |||||||||||||||||||||
AD (d) | January 15, 2022 | 6.88% | $ | 750 | — | 750 | |||||||||||||||||||||
AG | March 31, 2021 | EURIBOR + 3.75% | € | 1,554.40 | — | 1,959.10 | |||||||||||||||||||||
AH | June 30, 2021 | LIBOR + 2.50% (e) | $ | 1,305.00 | — | 1,301.90 | |||||||||||||||||||||
AI | April 30, 2019 | EURIBOR + 3.25% | € | 1,016.20 | 1,283.40 | — | |||||||||||||||||||||
Elimination of Facilities V, Y, Z, AC and AD in consolidation (d) | — | (4,078.7 | ) | ||||||||||||||||||||||||
Total | $ | 1,283.40 | $ | 3,261.00 | |||||||||||||||||||||||
_______________ | |||||||||||||||||||||||||||
(a) | Except as described in (d) below, amounts represent total third-party facility amounts at September 30, 2014 without giving effect to the impact of discounts. | ||||||||||||||||||||||||||
(b) | At September 30, 2014, our availability under the UPC Broadband Holding Bank Facility was limited to €951.6 million ($1,201.8 million). When the relevant September 30, 2014 compliance reporting requirements have been completed, we anticipate that our availability under the UPC Broadband Holding Bank Facility will be limited to €906.7 million ($1,145.1 million). Facility AI has a fee on unused commitments of 1.3% per year. | ||||||||||||||||||||||||||
(c) | The carrying values of Facilities AG and AH include the impact of discounts. | ||||||||||||||||||||||||||
(d) | Amounts related to certain senior secured notes (the UPCB SPE Notes) issued by special purpose financing entities (the UPCB SPEs) that are consolidated by UPC Holding and Liberty Global. The proceeds from the UPCB SPE Notes were used to fund additional Facilities V, Y, Z, AC and AD, with our wholly-owned subsidiary UPC Financing Partnership as the borrower. Accordingly, the amounts outstanding under Facilities V, Y, Z, AC and AD are eliminated in our condensed consolidated financial statements. | ||||||||||||||||||||||||||
(e) | Facility AH has a LIBOR floor of 0.75%. | ||||||||||||||||||||||||||
In January 2014, VTR Finance B.V. (VTR Finance), our wholly-owned subsidiary, issued $1.4 billion principal amount of 6.875% senior secured notes due January 15, 2024 (the VTR Finance Senior Secured Notes) in connection with the extraction of VTR GlobalCom and certain of its parents and all of its subsidiaries from the UPC Holding credit pool. The net proceeds from the VTR Finance Senior Secured Notes of $1,375.0 million, together with an additional €244.5 million ($334.6 million at the transaction date) of cash loaned from another subsidiary of Liberty Global and €9.3 million ($12.7 million at the transaction date) of cash associated with the settlement of related derivatives, were used to repay all of the outstanding indebtedness under Facilities R, S and AE. In connection with this transaction, we recognized a loss on debt modification and extinguishment, net, of $7.2 million related to the write-off of deferred financing costs. | |||||||||||||||||||||||||||
During the first quarter of 2014, we used existing cash to repay all of the outstanding borrowings under Facility AF. In connection with this transaction, we recognized a loss on debt modification and extinguishment, net, of $9.3 million, including (i) a $4.9 million write-off of an unamortized discount and (ii) a $4.4 million write-off of deferred financing costs. | |||||||||||||||||||||||||||
Unitymedia KabelBW Revolving Credit Facilities | |||||||||||||||||||||||||||
During the third quarter of 2014, Unitymedia Hessen completed the refinancing of its then existing €337.5 million ($426.2 million) and €80.0 million ($101.0 million) revolving credit facilities (the Old Unitymedia KabelBW Revolving Credit Facilities). Pursuant to this refinancing, the respective commitments of the lenders under the Old Unitymedia KabelBW Revolving Credit Facilities were cancelled and Unitymedia Hessen entered into (i) a new €80.0 million ($101.0 million) super senior secured revolving credit facility agreement (the UM Super Senior Secured Facility) and (ii) a new €420.0 million ($530.4 million) senior secured revolving credit facility agreement (the UM Senior Secured Facility and, together with the UM Super Senior Secured Facility, the Unitymedia KabelBW Revolving Credit Facilities). The Unitymedia KabelBW Revolving Credit Facilities were undrawn at September 30, 2014. The UM Super Senior Secured Facility, which is senior to the UM Senior Secured Facility, bears interest at EURIBOR plus a margin of 2.25%, matures in December 2020 and has a fee on unused commitments of 0.9% per year. The UM Senior Secured Facility bears interest at EURIBOR plus a margin of 2.75%, matures in December 2020 and has a fee on unused commitments of 1.1% per year. | |||||||||||||||||||||||||||
In addition to customary restrictive covenants and events of default, the Unitymedia KabelBW Revolving Credit Facilities require compliance with a Consolidated Net Leverage Ratio, as defined in the applicable facility. The terms of the Unitymedia KabelBW Revolving Credit Facilities are substantially the same as those of the respective Old Unitymedia KabelBW Revolving Credit Facilities with regard to ranking, security and change of control. | |||||||||||||||||||||||||||
Telenet Credit Facility | |||||||||||||||||||||||||||
The Telenet Credit Facility, as amended, is the senior secured credit facility of Telenet International. The details of our borrowings under the Telenet Credit Facility as of September 30, 2014 are summarized in the following table: | |||||||||||||||||||||||||||
Facility | Final maturity date | Interest rate | Facility amount | Unused | Carrying | ||||||||||||||||||||||
(in borrowing | borrowing | value | |||||||||||||||||||||||||
currency) (a) | capacity (b) | ||||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||||
M (c) | 15-Nov-20 | 6.38% | € | 500 | $ | — | $ | 631.5 | |||||||||||||||||||
O (c) | 15-Feb-21 | 6.63% | € | 300 | — | 378.9 | |||||||||||||||||||||
P (c) | 15-Jun-21 | EURIBOR + 3.875% | € | 400 | — | 505.2 | |||||||||||||||||||||
S | 31-Dec-16 | EURIBOR + 2.75% | € | 36.9 | 46.6 | — | |||||||||||||||||||||
U (c) | 15-Aug-22 | 6.25% | € | 450 | — | 568.3 | |||||||||||||||||||||
V (c) | 15-Aug-24 | 6.75% | € | 250 | — | 315.7 | |||||||||||||||||||||
W (d) | 30-Jun-22 | EURIBOR + 3.25% | € | 474.1 | — | 597.5 | |||||||||||||||||||||
X | 30-Sep-20 | EURIBOR + 2.75% | € | 286 | 361.2 | — | |||||||||||||||||||||
Y (d) | 30-Jun-23 | EURIBOR + 3.50% | € | 882.9 | — | 1,112.70 | |||||||||||||||||||||
Elimination of Telenet Facilities M, O, P, U and V in consolidation (c) | — | (2,399.6 | ) | ||||||||||||||||||||||||
Total | $ | 407.8 | $ | 1,710.20 | |||||||||||||||||||||||
_______________ | |||||||||||||||||||||||||||
(a) | Except as described in (c) below, amounts represent total third-party facility amounts at September 30, 2014. | ||||||||||||||||||||||||||
(b) | Telenet Facilities S and X have a fee on unused commitments of 1.10% per year. | ||||||||||||||||||||||||||
(c) | As described below, the amounts outstanding under Telenet Facilities M, O, P, U and V are eliminated in Liberty Global’s consolidated financial statements. | ||||||||||||||||||||||||||
(d) | The carrying values of Telenet Facilities W and Y include the impact of discounts. | ||||||||||||||||||||||||||
In April 2014, Telenet entered into Telenet Facility W and Telenet Facility Y. The net proceeds from these issuances, along with available cash and cash equivalents, were used to (i) fully redeem the outstanding amounts under existing Facilities Q, R and T under the Telenet Credit Facility and (ii) fully repay the €100.0 million ($126.3 million) outstanding principal amount under Telenet Facility N to Telenet Finance Luxembourg II S.A. (Telenet Finance II) and, in turn, Telenet Finance II used the proceeds to fully redeem its 5.3% senior secured notes due November 2016 (the Telenet Finance II Notes). Telenet Finance II was a special purpose financing entity that, prior to the redemption of the Telenet Finance II Notes, was consolidated by Telenet. In addition, the commitments under Telenet’s then existing revolving credit facility (Telenet Facility S) were reduced from €158.0 million ($199.5 million) to €36.9 million ($46.6 million) and Telenet entered into Telenet Facility X. In connection with the above transactions, we recognized a loss on debt modification and extinguishment, net, of $11.9 million, including (a) the write-off of $7.1 million of deferred financing costs, (b) the payment of $3.6 million of redemption premium and (c) the write-off of $1.2 million of unamortized discount. | |||||||||||||||||||||||||||
Liberty Puerto Rico Bank Facility | |||||||||||||||||||||||||||
On July 7, 2014, Liberty Puerto Rico entered into (i) a new $530.0 million first lien term loan that matures on January 7, 2022 (the New LPR Term Loan B) and (ii) a new $145.0 million second lien term loan that matures on July 7, 2023 (the New LPR Term Loan C), each under Liberty Puerto Rico’s existing bank credit facility (collectively, the Liberty Puerto Rico Bank Facility). The New LPR Term Loan B and New LPR Term Loan C, each of which were issued at 99.5% of par, bear interest at LIBOR plus 3.50% and LIBOR plus 6.75%, respectively. The net proceeds from these issuances were used to repay all amounts previously outstanding under the Liberty Puerto Rico Bank Facility. Each of the New LPR Term Loan B and New LPR Term Loan C are subject to a LIBOR floor of 1.0%. Also on July 7, 2014, the commitments under Liberty Puerto Rico’s then existing revolving credit facility were cancelled and Liberty Puerto Rico entered into a new $40.0 million revolving credit facility (the New LPR Revolving Loan). The New LPR Revolving Loan, which matures on July 7, 2020 and bears interest at LIBOR plus 3.50%, has a fee on unused commitments of 0.50% or 0.375% depending on the Consolidated Total Net Leverage Ratio (as defined in the Liberty Puerto Rico Bank Facility). In connection with the above transactions, we recognized a loss on debt modification and extinguishment, net, of $9.5 million, including (a) the write-off of $10.4 million of deferred financing costs and (b) the write-off of $0.9 million of unamortized premium. | |||||||||||||||||||||||||||
Ziggo Bridge Facility | |||||||||||||||||||||||||||
On January 27, 2014, LGE HoldCo VI B.V., our wholly-owned subsidiary, entered into a bridge facility agreement (the Ziggo Bridge Facility). The Ziggo Bridge Facility, which was never drawn, was cancelled on February 17, 2014. | |||||||||||||||||||||||||||
Maturities of Debt and Capital Lease Obligations | |||||||||||||||||||||||||||
Maturities of our debt and capital lease obligations as of September 30, 2014 are presented below for the named entity and its subsidiaries, unless otherwise noted. Amounts presented below represent U.S. dollar equivalents based on September 30, 2014 exchange rates: | |||||||||||||||||||||||||||
Debt: | |||||||||||||||||||||||||||
Virgin Media | UPC | Unitymedia KabelBW | Telenet (b) | Other (c) | Total | ||||||||||||||||||||||
Holding (a) | |||||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||||
Year ending December 31: | |||||||||||||||||||||||||||
2014 (remainder of year) | $ | 57.1 | $ | 101.7 | $ | 22.3 | $ | 9.3 | $ | 631.4 | $ | 821.8 | |||||||||||||||
2015 | 206.4 | 312.1 | 77.9 | 9.3 | 37.9 | 643.6 | |||||||||||||||||||||
2016 | — | — | — | 9.3 | 381.8 | 391.1 | |||||||||||||||||||||
2017 | — | — | — | 9.3 | 961.5 | 970.8 | |||||||||||||||||||||
2018 | — | — | — | 9.3 | 256.1 | 265.4 | |||||||||||||||||||||
2019 | 1,526.50 | — | 2,227.50 | 21.4 | — | 3,775.40 | |||||||||||||||||||||
Thereafter | 11,538.00 | 9,847.50 | 4,906.10 | 4,214.90 | 2,075.20 | 32,581.70 | |||||||||||||||||||||
Total debt maturities | 13,328.00 | 10,261.30 | 7,233.80 | 4,282.80 | 4,343.90 | 39,449.80 | |||||||||||||||||||||
Unamortized premium (discount) | 98.3 | (16.2 | ) | (2.8 | ) | (3.6 | ) | (41.7 | ) | 34 | |||||||||||||||||
Total debt | $ | 13,426.30 | $ | 10,245.10 | $ | 7,231.00 | $ | 4,279.20 | $ | 4,302.20 | $ | 39,483.80 | |||||||||||||||
Current portion | $ | 265.8 | $ | 413.8 | $ | 100.3 | $ | 9.3 | $ | 663.9 | $ | 1,453.10 | |||||||||||||||
Noncurrent portion | $ | 13,160.50 | $ | 9,831.30 | $ | 7,130.70 | $ | 4,269.90 | $ | 3,638.30 | $ | 38,030.70 | |||||||||||||||
_______________ | |||||||||||||||||||||||||||
(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 certain senior secured notes issued by special purpose financing entities that are consolidated by Telenet. | ||||||||||||||||||||||||||
(c) | The debt maturity during the remainder of 2014 includes the $631.9 million (equivalent) principal amount outstanding under the Ziggo Collar Loan. As further described in note 4, the Ziggo Collar Loan will be settled on November 6, 2014. For information regarding our acquisition of Ziggo, see note 3. | ||||||||||||||||||||||||||
Capital lease obligations: | |||||||||||||||||||||||||||
Unitymedia KabelBW | Telenet | Virgin Media | Other | Total | |||||||||||||||||||||||
in millions | |||||||||||||||||||||||||||
Year ending December 31: | |||||||||||||||||||||||||||
2014 (remainder of year) | $ | 23.1 | $ | 19.3 | $ | 41.9 | $ | 9.9 | $ | 94.2 | |||||||||||||||||
2015 | 92.6 | 66.5 | 123.3 | 17.6 | 300 | ||||||||||||||||||||||
2016 | 92.6 | 66.1 | 71.9 | 19.2 | 249.8 | ||||||||||||||||||||||
2017 | 92.6 | 64.3 | 30.4 | 12.4 | 199.7 | ||||||||||||||||||||||
2018 | 92.6 | 60.8 | 6.9 | 5.4 | 165.7 | ||||||||||||||||||||||
2019 | 92.6 | 50 | 4.6 | 2.8 | 150 | ||||||||||||||||||||||
Thereafter | 1,008.10 | 248.9 | 231.3 | 22.8 | 1,511.10 | ||||||||||||||||||||||
Total principal and interest payments | 1,494.20 | 575.9 | 510.3 | 90.1 | 2,670.50 | ||||||||||||||||||||||
Amounts representing interest | (641.9 | ) | (148.9 | ) | (211.4 | ) | (19.3 | ) | (1,021.5 | ) | |||||||||||||||||
Present value of net minimum lease payments | $ | 852.3 | $ | 427 | $ | 298.9 | $ | 70.8 | $ | 1,649.00 | |||||||||||||||||
Current portion | $ | 27.7 | $ | 42.3 | $ | 127.7 | $ | 18.2 | $ | 215.9 | |||||||||||||||||
Noncurrent portion | $ | 824.6 | $ | 384.7 | $ | 171.2 | $ | 52.6 | $ | 1,433.10 | |||||||||||||||||
Non-cash Refinancing Transactions | |||||||||||||||||||||||||||
During the nine months ended September 30, 2014 and 2013, certain of our refinancing transactions included non-cash borrowings and repayments of debt aggregating $3,953.2 million and $5,061.5 million, respectively. | |||||||||||||||||||||||||||
Subsequent Events | |||||||||||||||||||||||||||
For information regarding certain financing transactions completed subsequent to September 30, 2014, see note 16. |
Income_Taxes
Income Taxes | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Accrued Income Taxes [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, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
in millions | ||||||||||||||||
Computed “expected” tax benefit (expense) (a) | $ | (67.5 | ) | $ | 135.1 | $ | 94.6 | $ | 78.4 | |||||||
Change in valuation allowances | (215.9 | ) | (20.1 | ) | (358.4 | ) | (19.0 | ) | ||||||||
International rate differences (b) | 67.3 | 8.5 | 169.9 | 50.9 | ||||||||||||
Non-deductible or non-taxable interest and other expenses | (42.4 | ) | (1.5 | ) | (125.2 | ) | (84.3 | ) | ||||||||
Tax effect of intercompany financing | 41.4 | 33.8 | 122.9 | 41.2 | ||||||||||||
Enacted tax law and rate changes | 23.6 | (369.7 | ) | 29.3 | (378.1 | ) | ||||||||||
Non-deductible or non-taxable foreign currency exchange results | 52.1 | (39.6 | ) | 28.8 | (29.4 | ) | ||||||||||
Recognition of previously unrecognized tax benefits | — | — | 28.8 | — | ||||||||||||
Basis and other differences in the treatment of items associated with investments in subsidiaries and affiliates | (3.9 | ) | 5 | (15.8 | ) | (25.7 | ) | |||||||||
Change in subsidiary tax attributes due to a deemed change in control | — | 6.7 | — | (84.7 | ) | |||||||||||
Other, net | (0.3 | ) | 18.6 | (2.9 | ) | 13.9 | ||||||||||
Total income tax expense | $ | (145.6 | ) | $ | (223.2 | ) | $ | (28.0 | ) | $ | (436.8 | ) | ||||
_______________ | ||||||||||||||||
(a) | In April 2014, the U.K. corporate income tax rate decreased from 23.0% to 21.0%, with a further decline to 20.0% scheduled for April 2015. Accordingly, the statutory or “expected” tax rates used in this table are 21.0% for the 2014 periods and 23.0% for the 2013 periods. Substantially all of the impact of these rate changes on our deferred tax balances was recorded in the third quarter of 2013. | |||||||||||||||
(b) | Amounts reflect statutory rates in jurisdictions in which we operate outside of the U.K. | |||||||||||||||
As of September 30, 2014, our unrecognized tax benefits of $478.2 million included $304.9 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. | ||||||||||||||||
We are currently undergoing income tax audits in Chile, Germany, the Netherlands, Slovakia, Switzerland and the U.S. During the next twelve months, it is reasonably possible that the resolution of ongoing examinations by tax authorities as well as expiration of statutes of limitation could result in significant reductions to our unrecognized tax benefits related to tax positions taken as of September 30, 2014. The amount of any such reductions could range up to $230 million. Other than the potential impacts of these ongoing examinations and the expected expiration of certain statutes of limitation, we do not expect any material changes to our unrecognized tax benefits during the next twelve months. 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, 2014 | |
Equity [Abstract] | ' |
Equity | ' |
Equity | |
Share Repurchases | |
During the nine months ended September 30, 2014, we purchased a total of 8,062,792 Liberty Global Class A ordinary shares at a weighted average price of $42.19 per share and 14,581,019 Liberty Global Class C ordinary shares at a weighted average price of $41.82 per share, for an aggregate purchase price of $949.9 million, including direct acquisition costs and the effects of derivative instruments. At September 30, 2014, the remaining amount authorized for share repurchases was $2,577.2 million. | |
Acquisition of Interests in VTR GlobalCom and VTR Wireless | |
On March 14, 2014, a subsidiary of VTR Finance acquired each of the 20.0% noncontrolling ownership interests in VTR GlobalCom and VTR Wireless (the VTR NCI Acquisition) from Inversiones Corp Comm 2 SpA, formerly known as Corp Comm S.A. (the VTR NCI Owner). The consideration for the VTR NCI Acquisition was satisfied by the allotment and issuance of 10,091,178 Liberty Global Class C ordinary shares to the VTR NCI Owner. The VTR NCI Acquisition has been accounted for as an equity transaction, the net effect of which was to record the issued Liberty Global Class C shares at the $185.4 million carrying value of the acquired noncontrolling interests. |
Sharebased_Compensation
Share-based Compensation | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
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, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
in millions | ||||||||||||||||
Liberty Global shares: | ||||||||||||||||
Performance-based incentive awards (a) | $ | 44.2 | $ | 12.6 | $ | 88 | $ | 24.5 | ||||||||
Other share-based incentive awards | 25.1 | 79.1 | 77.5 | 140.1 | ||||||||||||
Total Liberty Global shares (b) | 69.3 | 91.7 | 165.5 | 164.6 | ||||||||||||
Telenet share-based incentive awards (c) | 1.9 | 4.9 | 12.6 | 52.4 | ||||||||||||
Other | 1.9 | 2.1 | 4.5 | 2.4 | ||||||||||||
Total | $ | 73.1 | $ | 98.7 | $ | 182.6 | $ | 219.4 | ||||||||
Included in: | ||||||||||||||||
Continuing operations: | ||||||||||||||||
Operating expense | $ | 1 | $ | 0.8 | $ | 5.9 | $ | 10.7 | ||||||||
SG&A expense | 72.1 | 97.4 | 176.7 | 207.2 | ||||||||||||
Total - continuing operations | 73.1 | 98.2 | 182.6 | 217.9 | ||||||||||||
Discontinued operation | — | 0.5 | — | 1.5 | ||||||||||||
Total | $ | 73.1 | $ | 98.7 | $ | 182.6 | $ | 219.4 | ||||||||
_______________ | ||||||||||||||||
(a) | Includes share-based compensation expense related to (i) Liberty Global performance-based restricted share units (PSUs), (ii) a challenge performance award plan issued on June 24, 2013 for certain executive officers and key employees (the Challenge Performance Awards) and (iii) for the 2014 periods, the PGUs, as defined and described below. The Challenge Performance Awards include performance-based share appreciation rights (PSARs) and PSUs. | |||||||||||||||
(b) | In connection with the Virgin Media Acquisition, 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. Virgin Media recorded share-based compensation expense of $14.4 million and $45.8 million during the three and nine months ended September 30, 2014, respectively, including compensation expense related to the Virgin Media Replacement Awards and new awards that were granted after the Virgin Media Replacement Awards were issued. 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. | |||||||||||||||
(c) | 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 its shareholder returns. In connection with these anti-dilution adjustments, Telenet recognized share-based compensation expense of $32.7 million and continues to recognize additional share-based compensation expense as the underlying options vest. 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 (Telenet 2010 SSOP). | |||||||||||||||
The following table provides certain information related to share-based compensation not yet recognized for share-based incentive awards related to Liberty Global ordinary shares and Telenet ordinary shares as of September 30, 2014: | ||||||||||||||||
Liberty Global | Liberty Global performance-based awards (b) | Telenet ordinary shares (c) | ||||||||||||||
ordinary shares (a) | ||||||||||||||||
Total compensation expense not yet recognized (in millions) | $ | 150 | $ | 197.3 | $ | 5.8 | ||||||||||
Weighted average period remaining for expense recognition (in years) | 2.7 | 1.5 | 2.2 | |||||||||||||
_______________ | ||||||||||||||||
(a) | Amounts relate to awards granted or assumed by Liberty Global under (i) the Liberty Global 2014 Incentive Plan, (ii) the Liberty Global 2014 Nonemployee Director Incentive Plan, (iii) the Liberty Global, Inc. 2005 Incentive Plan (as amended and restated effective June 7, 2013), (iv) the Liberty Global, Inc. 2005 Nonemployee Director Incentive Plan (as amended and restated effective June 7, 2013), (v) the Virgin Media Inc. 2010 Stock Incentive Plan (as amended and restated effective June 7, 2013) and (vi) certain other incentive plans of Virgin Media. On January 30, 2014, our shareholders approved the Liberty Global 2014 Incentive Plan and the Liberty Global 2014 Nonemployee Director Incentive Plan and, accordingly, awards are now only granted under the Liberty Global 2014 Incentive Plan and the Liberty Global 2014 Nonemployee Director Incentive Plan. | |||||||||||||||
(b) | Amounts relate to (i) the Challenge Performance Awards, (ii) PSUs and (iii) the PGUs, as defined and described below. | |||||||||||||||
(c) | 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, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Assumptions used to estimate fair value of options, share appreciation rights (SARs) and PSARs granted: | ||||||||||||||||
Risk-free interest rate | 0.81 - 1.77% | 0.36 - 1.27% | ||||||||||||||
Expected life (a) | 3.1 - 5.1 years | 3.2 - 7.1 years | ||||||||||||||
Expected volatility (a) | 25.1 - 28.7% | 26.5 - 35.8% | ||||||||||||||
Expected dividend yield | none | none | ||||||||||||||
Weighted average grant-date fair value per share of awards granted: | ||||||||||||||||
Options | $ | 11.4 | $ | 11.09 | ||||||||||||
SARs | $ | 8.93 | $ | 8.36 | ||||||||||||
PSARs | $ | 8.15 | $ | 8.31 | ||||||||||||
Restricted share units (RSUs) | $ | 39.77 | $ | 35.74 | ||||||||||||
PSUs and PGUs | $ | 42.47 | $ | 34.94 | ||||||||||||
Total intrinsic value of awards exercised (in millions): | ||||||||||||||||
Options | $ | 76.3 | $ | 114.9 | ||||||||||||
SARs | $ | 23.7 | $ | 59.6 | ||||||||||||
PSARs | $ | 0.2 | $ | — | ||||||||||||
Cash received from exercise of options (in millions) | $ | 34.3 | $ | 57.2 | ||||||||||||
Income tax benefit related to share-based compensation (in millions) | $ | 37.6 | $ | 33.2 | ||||||||||||
_______________ | ||||||||||||||||
(a) | The 2013 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 Performance Grant Award | ||||||||||||||||
Effective May 1, 2014, our compensation committee authorized the grant to our Chief Executive Officer a total of one million Class A PSUs and one million Class B PSUs (the Performance Grant Units or PGUs). The PGUs, which were approved by our shareholders on June 26, 2014, are subject to the achievement of a performance condition measured in 2014 and, once the performance condition is met, the awards will vest in three equal annual installments commencing on March 15, 2015. | ||||||||||||||||
Share-Based Award Activity - Liberty Global Ordinary Shares | ||||||||||||||||
The following tables summarize the share-based award activity during the nine months ended September 30, 2014 with respect to Liberty Global ordinary shares: | ||||||||||||||||
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, 2014 | 2,708,445 | $ | 16.12 | |||||||||||||
Granted | 78,677 | $ | 42.54 | |||||||||||||
Cancelled | (47,205 | ) | $ | 22.14 | ||||||||||||
Exercised | (618,993 | ) | $ | 14.9 | ||||||||||||
Outstanding at September 30, 2014 | 2,120,924 | $ | 17.33 | 5.8 | $ | 53.5 | ||||||||||
Exercisable at September 30, 2014 | 1,212,064 | $ | 13.83 | 4.7 | $ | 34.8 | ||||||||||
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, 2014 | 7,031,369 | $ | 14.95 | |||||||||||||
Granted | 157,346 | $ | 40.86 | |||||||||||||
Cancelled | (116,915 | ) | $ | 20.78 | ||||||||||||
Exercised | (1,933,626 | ) | $ | 12.64 | ||||||||||||
Outstanding at September 30, 2014 | 5,138,174 | $ | 16.47 | 5.9 | $ | 126.2 | ||||||||||
Exercisable at September 30, 2014 | 2,876,361 | $ | 13.36 | 4.8 | $ | 79.5 | ||||||||||
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, 2014 | 4,168,758 | $ | 24.78 | |||||||||||||
Granted | 2,192,672 | $ | 40.9 | |||||||||||||
Forfeited | (148,111 | ) | $ | 30.17 | ||||||||||||
Exercised | (284,967 | ) | $ | 21.12 | ||||||||||||
Outstanding at September 30, 2014 | 5,928,352 | $ | 30.77 | 5 | $ | 69.8 | ||||||||||
Exercisable at September 30, 2014 | 2,333,076 | $ | 20.71 | 3.4 | $ | 50.9 | ||||||||||
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, 2014 | 12,437,530 | $ | 23.87 | |||||||||||||
Granted | 4,408,368 | $ | 39.07 | |||||||||||||
Forfeited | (435,969 | ) | $ | 29.27 | ||||||||||||
Exercised | (834,407 | ) | $ | 20.84 | ||||||||||||
Outstanding at September 30, 2014 | 15,575,522 | $ | 28.18 | 4.8 | $ | 199.9 | ||||||||||
Exercisable at September 30, 2014 | 6,950,992 | $ | 20.04 | 3.4 | $ | 145.8 | ||||||||||
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, 2014 | 2,817,498 | $ | 35.07 | |||||||||||||
Granted | 10,000 | $ | 43.58 | |||||||||||||
Forfeited | (10,209 | ) | $ | 35.03 | ||||||||||||
Exercised | (6,248 | ) | $ | 35.03 | ||||||||||||
Outstanding at September 30, 2014 | 2,811,041 | $ | 35.1 | 5.7 | $ | 20.9 | ||||||||||
Exercisable at September 30, 2014 | 7,291 | $ | 35.03 | 2 | $ | 0.1 | ||||||||||
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, 2014 | 8,452,494 | $ | 33.44 | |||||||||||||
Granted | 30,000 | $ | 43.03 | |||||||||||||
Forfeited | (30,626 | ) | $ | 33.41 | ||||||||||||
Exercised | (18,744 | ) | $ | 33.41 | ||||||||||||
Outstanding at September 30, 2014 | 8,433,124 | $ | 33.48 | 5.7 | $ | 63.6 | ||||||||||
Exercisable at September 30, 2014 | 21,874 | $ | 33.86 | 2 | $ | 0.2 | ||||||||||
RSUs — 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, 2014 | 725,676 | $ | 35.48 | |||||||||||||
Granted | 207,408 | $ | 40.98 | |||||||||||||
Forfeited | (39,038 | ) | $ | 32.53 | ||||||||||||
Released from restrictions | (269,816 | ) | $ | 34.66 | ||||||||||||
Outstanding at September 30, 2014 | 624,230 | $ | 37.72 | 4.8 | ||||||||||||
RSUs — 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, 2014 | 1,944,468 | $ | 32.79 | |||||||||||||
Granted | 414,816 | $ | 39.17 | |||||||||||||
Forfeited | (110,193 | ) | $ | 30.31 | ||||||||||||
Released from restrictions | (721,392 | ) | $ | 31.96 | ||||||||||||
Outstanding at September 30, 2014 | 1,527,699 | $ | 34.98 | 4.7 | ||||||||||||
PSUs and PGUs — 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, 2014 | 924,648 | $ | 32.05 | |||||||||||||
Granted | 1,518,276 | $ | 42.74 | |||||||||||||
Performance adjustment (a) | (138,668 | ) | $ | 26.17 | ||||||||||||
Forfeited | (21,564 | ) | $ | 32.89 | ||||||||||||
Released from restrictions | (273,570 | ) | $ | 26.23 | ||||||||||||
Outstanding at September 30, 2014 | 2,009,122 | $ | 41.32 | 2 | ||||||||||||
PGUs — Class B ordinary shares | Number of | Weighted | Weighted | |||||||||||||
shares | average | average | ||||||||||||||
grant-date | remaining | |||||||||||||||
fair value | contractual | |||||||||||||||
per share | term | |||||||||||||||
in years | ||||||||||||||||
Outstanding at January 1, 2014 | — | $ | — | |||||||||||||
Granted | 1,000,000 | $ | 44.55 | |||||||||||||
Outstanding at September 30, 2014 | 1,000,000 | $ | 44.55 | 2.5 | ||||||||||||
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, 2014 | 2,744,452 | $ | 29.99 | |||||||||||||
Granted | 1,048,614 | $ | 39.83 | |||||||||||||
Performance adjustment (a) | (416,004 | ) | $ | 24.73 | ||||||||||||
Forfeited | (64,692 | ) | $ | 30.77 | ||||||||||||
Released from restrictions | (820,710 | ) | $ | 24.78 | ||||||||||||
Outstanding at September 30, 2014 | 2,491,660 | $ | 36.7 | 1.5 | ||||||||||||
_______________ | ||||||||||||||||
(a) | Represents the reduction in PSUs associated with the first quarter 2014 determination that 66.3% of the PSUs that were granted in 2012 (the 2012 PSUs) had been earned. As of September 30, 2014, all of the earned 2012 PSUs have been released from restrictions. |
Restructuring_Liability
Restructuring Liability | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||||||
Restructuring Liability | ' | ||||||||||||||||
Restructuring Liability | |||||||||||||||||
A summary of the changes in our restructuring liability during the nine months ended September 30, 2014 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, 2014 | $ | 26.6 | $ | 14.9 | $ | 72 | $ | 113.5 | |||||||||
Restructuring charges | 34.5 | 9.3 | 93.6 | 137.4 | |||||||||||||
Cash paid | (44.9 | ) | (10.2 | ) | (28.5 | ) | (83.6 | ) | |||||||||
Foreign currency translation adjustments and other | 0.6 | (0.5 | ) | (15.0 | ) | (14.9 | ) | ||||||||||
Restructuring liability as of September 30, 2014 | $ | 16.8 | $ | 13.5 | $ | 122.1 | $ | 152.4 | |||||||||
Current portion | $ | 16.7 | $ | 12.1 | $ | 20.8 | $ | 49.6 | |||||||||
Noncurrent portion | 0.1 | 1.4 | 101.3 | 102.8 | |||||||||||||
Total | $ | 16.8 | $ | 13.5 | $ | 122.1 | $ | 152.4 | |||||||||
Prior to March 31, 2014, Telenet operated a digital terrestrial television (DTT) business that served a limited number of subscribers. The DTT network was accessed by Telenet pursuant to third-party capacity contracts that were accounted for as operating agreements. On March 31, 2014, Telenet discontinued the provision of DTT services and, accordingly, Telenet recorded an $86.1 million restructuring charge during the three months ended March 31, 2014. This charge is equal to the then estimated net present value of the remaining payments due under the DTT capacity contracts and is included in impairment, restructuring and other operating items, net, in our condensed consolidated statement of operations. | |||||||||||||||||
Our employee severance and termination costs during the nine months ended September 30, 2014 relate to certain reorganization activities, primarily in the U.K., Germany and the European Operations Division’s central operations. |
Earnings_or_Loss_per_Ordinary_
Earnings or Loss per Ordinary Share | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Earnings or Loss per Ordinary Share | ' | |||||||||||||||
Earnings or Loss per Ordinary Share | ||||||||||||||||
Basic earnings or loss per share attributable to Liberty Global shareholders is computed by dividing net earnings or loss attributable to Liberty Global shareholders by the weighted average number of ordinary shares outstanding for the period. Diluted earnings or 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, PSARs, RSUs and convertible securities) as if they had been exercised, vested or converted at the beginning of the periods presented. | ||||||||||||||||
The details of the calculations of our basic and diluted earnings per share (EPS) are set forth in the following table: | ||||||||||||||||
Three months ended | Nine months ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
in millions, except share amounts | ||||||||||||||||
Numerator: | ||||||||||||||||
Net earnings (loss) attributable to Liberty Global shareholders (basic and diluted EPS computation) | $ | 157.1 | $ | (830.1 | ) | $ | (171.6 | ) | $ | (842.7 | ) | |||||
Denominator: | ||||||||||||||||
Weighted average common shares (basic EPS computation) | 779,708,147 | 796,152,814 | 784,112,867 | 632,698,780 | ||||||||||||
Incremental shares attributable to the assumed exercise of outstanding options and SARs and the release of share units upon vesting (treasury stock method) | 10,378,194 | — | — | — | ||||||||||||
Weighted average common shares (diluted EPS computation) | 790,086,341 | 796,152,814 | 784,112,867 | 632,698,780 | ||||||||||||
A total of 10.7 million options, SARs, PSARs and RSUs and 2.6 million shares issuable upon conversion of the VM Convertible Notes were excluded from the calculation of diluted earnings per share during the three months ended September 30, 2014 because their effect would have been anti-dilutive. | ||||||||||||||||
We reported losses from continuing operations attributable to Liberty Global shareholders for the three months ended September 30, 2013 and the nine months ended September 30, 2014 and 2013. Therefore, the potentially dilutive effect at September 30, 2014 and 2013 of (i) the aggregate number of shares issuable pursuant to outstanding options, SARs, PSARs and RSUs of approximately 42.2 million and 44.8 million, respectively, (ii) the number of shares issuable pursuant to PSUs and PGUs of approximately 5.5 million and 4.0 million, respectively, and (iii) the aggregate number of shares issuable pursuant to obligations that may be settled in cash or shares of approximately 2.6 million and 2.6 million, respectively, were not included in the computation of diluted loss per share attributable to Liberty Global shareholders during these periods because their inclusion would have been anti-dilutive to the computation or, in the case of certain PSUs and PGUs, because such awards had not yet met the applicable performance criteria. | ||||||||||||||||
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, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
in millions | ||||||||||||||||
Amounts attributable to Liberty Global shareholders: | ||||||||||||||||
Earnings (loss) from continuing operations | $ | 157.1 | $ | (818.5 | ) | $ | (505.1 | ) | $ | (828.4 | ) | |||||
Earnings (loss) from discontinued operation | — | (11.6 | ) | 333.5 | (14.3 | ) | ||||||||||
Net earnings (loss) attributable to Liberty Global shareholders | $ | 157.1 | $ | (830.1 | ) | $ | (171.6 | ) | $ | (842.7 | ) | |||||
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||||||
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 programming contracts, network and connectivity commitments, purchases of customer premises and other equipment, non-cancelable operating leases and other items. The U.S. dollar equivalents of such commitments as of September 30, 2014 are presented below: | ||||||||||||||||||||||||||||||||
Payments due during: | ||||||||||||||||||||||||||||||||
Remainder | ||||||||||||||||||||||||||||||||
of 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||||||||||
Programming commitments | $ | 245.6 | $ | 809.4 | $ | 724 | $ | 570.4 | $ | 488.8 | $ | 231.1 | $ | — | $ | 3,069.30 | ||||||||||||||||
Network and connectivity commitments | 100.3 | 334 | 271.8 | 247.4 | 129.8 | 93 | 1,093.60 | 2,269.90 | ||||||||||||||||||||||||
Purchase commitments | 514.6 | 278 | 94.8 | 44.4 | 10.8 | 4.5 | — | 947.1 | ||||||||||||||||||||||||
Operating leases | 46.2 | 156.2 | 128.2 | 104.7 | 71.2 | 54.2 | 249.7 | 810.4 | ||||||||||||||||||||||||
Other commitments | 133.1 | 318.9 | 194.8 | 142.6 | 89.3 | 35.5 | 35 | 949.2 | ||||||||||||||||||||||||
Total (a) | $ | 1,039.80 | $ | 1,896.50 | $ | 1,413.60 | $ | 1,109.50 | $ | 789.9 | $ | 418.3 | $ | 1,378.30 | $ | 8,045.90 | ||||||||||||||||
_______________ | ||||||||||||||||||||||||||||||||
(a) | The commitments reflected in this table do not reflect any liabilities that are included in our September 30, 2014 condensed consolidated balance sheet. | |||||||||||||||||||||||||||||||
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. In addition, programming commitments do not include increases in future periods associated with contractual inflation or other price adjustments. Accordingly, the amounts reflected in the above 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, 2014 and 2013, the third-party programming and copyright costs incurred by our broadband communications and DTH operations aggregated $1,586.4 million and $1,097.9 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. | ||||||||||||||||||||||||||||||||
Network and connectivity commitments include (i) Telenet’s commitments for certain operating costs associated with its leased network, (ii) commitments associated with our mobile virtual network operator (MVNO) agreements and (iii) certain repair and maintenance, fiber capacity and energy commitments of Unitymedia KabelBW. Subsequent to October 1, 2015, Telenet’s commitments for certain operating costs 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. The amounts reflected in the table with respect to certain of 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. | ||||||||||||||||||||||||||||||||
Purchase commitments include unconditional purchase obligations associated with commitments to purchase customer premises and other equipment that are enforceable and legally binding on us. | ||||||||||||||||||||||||||||||||
Commitments arising from acquisition agreements (including with respect to the Ziggo Merger Agreement) are not reflected in the above table. | ||||||||||||||||||||||||||||||||
In addition to the commitments set forth in the table above, we have significant commitments under (i) derivative instruments and (ii) defined benefit plans and similar agreements, 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, 2014 and 2013, see note 5. | ||||||||||||||||||||||||||||||||
We also have commitments pursuant to 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. | ||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||
Interkabel Acquisition. On November 26, 2007, Telenet and four associations of municipalities in Belgium, which we refer to as the pure intercommunales 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. On November 14, 2013, the European Court of Justice ruled that a majority of the reasons invoked by the PICs not to organize a market consultation were not overriding reasons of public interest to justify abolishing the PICs’ duty to organize such consultation. The annulment case was subsequently resumed with the Belgian Council of State, which is required to follow the interpretation given by the European Court of Justice with respect to the points of EU law. On January 16, 2014, the Advocate General with the Council of State recommended that the decisions of the board of the PICs not to organize a public market consultation be annulled, and on May 27, 2014, the Belgian Council of State ruled in favor of Belgacom and annulled (i) the decision of the PICs not to organize a public market consultation and (ii) the decision from the PICs’ board of directors to approve the 2008 PICs Agreement. The Belgian Council of State ruling did not annul the 2008 PICs Agreement itself. Belgacom is now free to start civil proceedings in order to have the 2008 PICs Agreement annulled and claim damages. | ||||||||||||||||||||||||||||||||
It is possible that Belgacom or another third party or public authority will initiate further legal proceedings in an attempt to annul 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 annulment of the 2008 PICs Agreement and/or to an obligation of 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 ($25.3 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 annulled, 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, cash flows or financial position. | ||||||||||||||||||||||||||||||||
Deutsche Telekom Litigation. On December 28, 2012, Unitymedia KabelBW filed a lawsuit against Telekom Deutschland GmbH (Deutsche Telekom), an operating subsidiary of Deutsche Telekom AG, 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 Deutsche Telekom in March 2011. Based in part on these approved rates, Unitymedia KabelBW is seeking a reduction of the annual lease fees (approximately €76 million ($96 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. A 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 ($1,192 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. In November 2012, we completed a business combination that resulted in, among other matters, the combination of our then operating subsidiary in Puerto Rico with San Juan Cable, LLC dba OneLink Communications (OneLink). In connection with this transaction (the OneLink Acquisition), Liberty Puerto Rico, as the surviving entity, became a party to certain claims asserted by the incumbent telephone operator against OneLink based on alleged conduct of OneLink that occurred prior to the OneLink Acquisition (the PRTC Claim), 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. In December 2013, an additional claim was asserted against OneLink alleging harm to consumers based on the purported conduct of OneLink that formed the basis for the PRTC Claim. The claimant in the December 2013 action sought to join the PRTC Claim as a representative of the entire class of consumers who are alleged to have suffered harm as a result of the purported OneLink conduct. In February 2014, the court ruled that the December 2013 action could not be joined with the PRTC Claim. The court ruling did not preclude the claimant from pursuing a class action claim in a separate action. In March 2014, the claimant in the December 2013 claim filed a separate class action claim in Puerto Rico (the Class Action Claim) substantially similar to the claims asserted in the December 2013 claim. The former owners of OneLink have partially indemnified us for any losses we may incur in connection with the PRTC Claim up to a specified maximum amount. However, the indemnity does not cover any potential losses resulting from the Class Action Claim. Liberty Puerto Rico has recorded a provision and a related indemnification asset representing its best estimate of the net loss that it may incur upon the ultimate resolution of the PRTC Claim. While Liberty Puerto Rico expects that the net amount required to satisfy these contingencies will not materially differ from the estimated amount it has accrued, no assurance can be given that the ultimate resolution of these matters will not have an adverse impact on our results of operations, cash flows or financial position in any given period. | ||||||||||||||||||||||||||||||||
Netherlands Regulatory Developments. In December 2011, the Autoriteit Consument & Markt (ACM), formerly Onafhankelijke Post en Telecommunicatia Authoriteit, 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, ACM rejected previously filed requests from a number of providers to perform a new market analysis of the television market. This decision by ACM was appealed by such providers to the Dutch Supreme Administrative Court. On November 5, 2012, the Dutch Supreme Administrative Court rejected the appeals against ACM’s decision. | ||||||||||||||||||||||||||||||||
In May 2012, the Dutch Senate adopted laws that provide, among other matters, the power to ACM to impose an obligation for the mandatory resale of television services and to the Commissariaat voor de Media to supervise the resale obligation introduced by these new laws. These laws became effective on January 1, 2013, notwithstanding the above-described November 5, 2012 decision of the Dutch Supreme Administrative Court. In January 2014, a Dutch civil court, in a proceeding initiated by UPC Netherlands B.V., declared the resale obligation laws non-binding because they infringe EU law. The Dutch Government did not appeal the January 2014 decision, and the Dutch Minister of Economic Affairs has proposed a draft law seeking to withdraw the resale obligation laws. This law may be adopted by the Dutch parliament as early as November 6, 2014. | ||||||||||||||||||||||||||||||||
In addition, 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 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. The infringement proceeding at the European Commission against the Dutch government is still pending. It is unclear how the Dutch civil court ruling and the draft law seeking to withdraw the resale obligation laws will impact the European Commission proceedings. We cannot predict the effect on our results of operations, cash flows or financial position from any implementation of a resale regime. | ||||||||||||||||||||||||||||||||
Belgium Regulatory Developments. In December 2010, the Belgisch Instituut voor Post en Telecommunicatie 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). | ||||||||||||||||||||||||||||||||
Telenet submitted draft reference offers regarding the obligations described above in February 2012, in response 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 on August 8, 2013, the European Commission did not object to the decision on the reference offers. 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. On December 27, 2013, wireless operator Mobistar SA (Mobistar) submitted a letter of intent and paid the advance payment on January 10, 2014. Telenet has implemented the access obligations as described in its reference offers and, as of June 23, 2014, access to the Telenet network had become operational and can be applied by Mobistar. | ||||||||||||||||||||||||||||||||
On April 2, 2013, the Belgium Regulatory Authorities issued a draft decision regarding the “retail-minus” tariffs of minus 35% for basic television (basic analog and digital video package) and minus 30% for the bundle of basic television 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 VAT and copyrights, and further deducting the retail costs avoided by offering the wholesale service (such as 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 television (basic analog and digital video package) and to minus 23% for the bundle of basic television and broadband internet services. Even though the European Commission made a number of comments regarding the appropriateness of certain assumptions in the proposed costing methodology, the Belgium Regulatory Authorities adopted such “retail-minus” tariffs on December 11, 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 and the approval of the reference offers by the Belgium Regulatory Authorities, Telenet was required to begin the process of implementing its reference offers. A final ruling on the merits is expected before the end of 2014. Telenet also filed an appeal with the Brussels Court of Appeal against the decision regarding the qualitative and the quantitative aspects of the reference offers. Wireless operator Mobistar also filed an appeal against the decision regarding the quantitative aspects of the reference offers. A decision with respect to these appeals is not expected before the end of 2014. There can be no certainty that Telenet’s appeals will be successful. | ||||||||||||||||||||||||||||||||
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 (collectively, the Appellants), including the incumbent telecommunications operator, each filed an appeal (collectively, the Appeals) 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 and our reasoned submission was filed on December 16, 2013. During the first quarter of 2014, interested third parties commented on our submission. 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. | ||||||||||||||||||||||||||||||||
Under German law, the Appellants may (with the consent of the FCO) withdraw the Appeals prior to the Düsseldorf Court of Appeal’s ruling becoming legally binding, in which case, the FCO’s original clearance decision with respect to our acquisition of KBW from December 2011 would remain in effect without any additional remedies. We, together with our German subsidiaries, have engaged in confidential discussions with the Appellants, which could lead to a settlement and withdrawal of the Appeals. Any such settlement and withdrawal is uncertain and would be subject to a number of conditions, including reaching mutually agreeable terms with each of the Appellants, approvals of the respective supervisory boards or boards of directors of the parties and ultimately the consent of the FCO. The terms and timing of any such settlement are not reasonably estimable at this time, and we cannot provide any assurances as to whether a settlement will be reached, or, if a settlement is reached, whether the FCO will consent to the withdrawal of the Appeals. | ||||||||||||||||||||||||||||||||
If we cannot agree on the terms of any such settlement, the proceedings before the Federal Court of Justice will continue. 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 our results of operations, cash flows or financial position. | ||||||||||||||||||||||||||||||||
FCO Communication. The FCO had previously communicated to us that it was 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 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 was inclined to open a test case that could set a precedent for all (or almost all) market participants. On May 22, 2014, the FCO closed this review process without any remedies or conditions. | ||||||||||||||||||||||||||||||||
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. Although ongoing debate in the relevant countries demonstrates continued momentum around the FTT, uncertainty remains as to when the FTT would be implemented and the breadth of its application. Based on current information, the FTT will likely not be effective until 2016. 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 results of operations, cash flows or financial position. | ||||||||||||||||||||||||||||||||
Virgin Media VAT Matter. Virgin Media’s application of 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 £39.3 million ($63.7 million) as of September 30, 2014. No portion of this exposure has been accrued by Virgin Media as the likelihood of loss is not considered to be probable. A court hearing was held at the end of September 2014 in relation to the U.K tax authorities’ challenge and the court’s decision is expected at some point prior to March 31, 2015. | ||||||||||||||||||||||||||||||||
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 property and equipment additions. 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. In this regard, during September 2014, VTR received a tariff proposal from the Chilean regulatory authority that would have retroactive effect to June 2012. The tariff proposal represents a significant reduction in the fixed-line interconnection rates currently charged by VTR. VTR is in the process of formulating its objections and comments to the tariff proposal and is currently unable to reasonably predict the outcome of the tariff-setting process. VTR has continued to recognize fixed-line interconnect revenue at the currently enacted rates. Final resolution of the tariff-setting process in Chile is expected to occur during the first half of 2015. If the September 2014 tariff proposal were ultimately to be upheld, including retroactive application to June 2012, VTR would be required to issue credit notes of approximately CLP 6.7 billion ($11.2 million) for revenue previously recognized through September 30, 2014. | ||||||||||||||||||||||||||||||||
We have security accreditations across a range of business-to-business (B2B) products and services in order to increase our offerings to public sector organizations in the U.K. These accreditations are granted subject to periodic reviews of our policies and procedures by U.K. governmental authorities. If we were to fail to maintain these accreditations or obtain new accreditations when required, it could impact our ability to provide certain offerings to the public sector. | ||||||||||||||||||||||||||||||||
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, cash flows or financial position 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, 2014 | ||||||||||||||||
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. | ||||||||||||||||
Segment information for the prior periods has been retrospectively revised to present the Chellomedia Disposal Group as a discontinued operation. Unless otherwise noted, 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) | |||||||||||||||
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. Most of our reportable segments also provide B2B services and certain of our reportable segments provide mobile services. At September 30, 2014, 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.” 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, we provide (i) video, broadband internet and fixed-line telephony services through VTR GlobalCom and (ii) mobile services through VTR Wireless. Our corporate and other category includes (a) less significant consolidated operating segments that provide (1) broadband communications services in Puerto Rico and (2) programming and other services and (b) our corporate category. Intersegment eliminations primarily represent the elimination of intercompany transactions between our broadband communications and programming operations. | ||||||||||||||||
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 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, 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, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
in millions | ||||||||||||||||
European Operations Division: | ||||||||||||||||
U.K. (Virgin Media) (a) | $ | 1,747.00 | $ | 1,587.40 | $ | 5,249.50 | $ | 1,988.70 | ||||||||
Germany (Unitymedia KabelBW) | 671.7 | 641.3 | 2,056.40 | 1,884.10 | ||||||||||||
Belgium (Telenet) | 575.7 | 545.6 | 1,732.30 | 1,616.20 | ||||||||||||
The Netherlands | 301.6 | 305.4 | 936 | 923.4 | ||||||||||||
Switzerland | 353.2 | 332.1 | 1,071.30 | 982 | ||||||||||||
Other Western Europe | 223.8 | 223.5 | 687.9 | 665.7 | ||||||||||||
Total Western Europe | 3,873.00 | 3,635.30 | 11,733.40 | 8,060.10 | ||||||||||||
Central and Eastern Europe | 279.8 | 279.1 | 859.7 | 848.4 | ||||||||||||
Central and other | 34.7 | 33.4 | 101.2 | 96.7 | ||||||||||||
Total European Operations Division | 4,187.50 | 3,947.80 | 12,694.30 | 9,005.20 | ||||||||||||
Chile (VTR) | 223.7 | 244.8 | 678.8 | 747.9 | ||||||||||||
Corporate and other | 95.3 | 93.4 | 282.6 | 280.9 | ||||||||||||
Intersegment eliminations (b) | (9.3 | ) | (9.5 | ) | (22.6 | ) | (27.8 | ) | ||||||||
Total | $ | 4,497.20 | $ | 4,276.50 | $ | 13,633.10 | $ | 10,006.20 | ||||||||
______________ | ||||||||||||||||
(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) | Amounts are primarily related to transactions between our European Operations Division and our continuing programming operations. | |||||||||||||||
Operating cash flow | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
in millions | ||||||||||||||||
European Operations Division: | ||||||||||||||||
U.K. (Virgin Media) (a) | $ | 755.9 | $ | 663 | $ | 2,264.80 | $ | 838.3 | ||||||||
Germany (Unitymedia KabelBW) | 417.5 | 391.2 | 1,277.50 | 1,120.60 | ||||||||||||
Belgium (Telenet) | 287.9 | 275.4 | 877.9 | 792.1 | ||||||||||||
The Netherlands | 175.1 | 176.3 | 543.5 | 532.2 | ||||||||||||
Switzerland | 213.3 | 200.8 | 639.3 | 572.2 | ||||||||||||
Other Western Europe | 115.4 | 113.8 | 343.4 | 324.2 | ||||||||||||
Total Western Europe | 1,965.10 | 1,820.50 | 5,946.40 | 4,179.60 | ||||||||||||
Central and Eastern Europe | 135 | 131.9 | 418.9 | 407.6 | ||||||||||||
Central and other | (63.0 | ) | (44.5 | ) | (184.3 | ) | (144.5 | ) | ||||||||
Total European Operations Division | 2,037.10 | 1,907.90 | 6,181.00 | 4,442.70 | ||||||||||||
Chile (VTR) | 86.6 | 84.5 | 255.1 | 256.5 | ||||||||||||
Corporate and other | (13.1 | ) | (15.2 | ) | (57.1 | ) | (44.6 | ) | ||||||||
Intersegment eliminations (b) | — | 11.4 | 4 | 34.1 | ||||||||||||
Total | $ | 2,110.60 | $ | 1,988.60 | $ | 6,383.00 | $ | 4,688.70 | ||||||||
______________ | ||||||||||||||||
(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. | |||||||||||||||
(b) | Amounts are related to transactions between our European Operations Division and the Chellomedia Disposal Group, which eliminations are no longer recorded following the completion of the Chellomedia Transaction on January 31, 2014. | |||||||||||||||
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, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
in millions | ||||||||||||||||
Total segment operating cash flow from continuing operations | $ | 2,110.60 | $ | 1,988.60 | $ | 6,383.00 | $ | 4,688.70 | ||||||||
Share-based compensation expense | (73.1 | ) | (98.2 | ) | (182.6 | ) | (217.9 | ) | ||||||||
Depreciation and amortization | (1,313.5 | ) | (1,381.3 | ) | (4,084.0 | ) | (2,921.7 | ) | ||||||||
Release of litigation provision | — | 146 | — | 146 | ||||||||||||
Impairment, restructuring and other operating items, net | (20.3 | ) | (133.9 | ) | (161.5 | ) | (200.6 | ) | ||||||||
Operating income | 703.7 | 521.2 | 1,954.90 | 1,494.50 | ||||||||||||
Interest expense | (617.3 | ) | (630.0 | ) | (1,912.6 | ) | (1,643.9 | ) | ||||||||
Interest and dividend income | 13.2 | 62 | 29.2 | 110.7 | ||||||||||||
Realized and unrealized gains (losses) on derivative instruments, net | 527.9 | (875.4 | ) | (177.3 | ) | (683.3 | ) | |||||||||
Foreign currency transaction gains (losses), net | (375.8 | ) | 258 | (433.0 | ) | 213 | ||||||||||
Realized and unrealized gains due to changes in fair values of certain investments, net | 92.2 | 80.8 | 189.4 | 345.4 | ||||||||||||
Losses on debt modification and extinguishment, net | (9.6 | ) | (0.7 | ) | (83.5 | ) | (170.7 | ) | ||||||||
Other expense, net | (13.0 | ) | (3.5 | ) | (17.4 | ) | (6.7 | ) | ||||||||
Earnings (loss) from continuing operations before income taxes | $ | 321.3 | $ | (587.6 | ) | $ | (450.3 | ) | $ | (341.0 | ) | |||||
Revenue by Major Category | ||||||||||||||||
Our revenue by major category is set forth below: | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
in millions | ||||||||||||||||
Subscription revenue (a): | ||||||||||||||||
Video | $ | 1,600.60 | $ | 1,599.60 | $ | 4,903.30 | $ | 4,087.10 | ||||||||
Broadband internet | 1,172.00 | 1,023.70 | 3,502.10 | 2,448.20 | ||||||||||||
Fixed-line telephony | 795.1 | 768.5 | 2,447.90 | 1,696.60 | ||||||||||||
Cable subscription revenue | 3,567.70 | 3,391.80 | 10,853.30 | 8,231.90 | ||||||||||||
Mobile subscription revenue (b) | 281.6 | 244.7 | 812 | 417.2 | ||||||||||||
Total subscription revenue | 3,849.30 | 3,636.50 | 11,665.30 | 8,649.10 | ||||||||||||
B2B revenue (c) | 379.8 | 343.7 | 1,129.80 | 629.9 | ||||||||||||
Other revenue (b) (d) | 268.1 | 296.3 | 838 | 727.2 | ||||||||||||
Total revenue | $ | 4,497.20 | $ | 4,276.50 | $ | 13,633.10 | $ | 10,006.20 | ||||||||
_______________ | ||||||||||||||||
(a) | Subscription revenue includes amounts received from subscribers for ongoing services, excluding installation fees and late fees. 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. As a result, changes in the standalone pricing of our cable and mobile products or the composition of bundles can contribute to changes in our product revenue categories from period to period. | |||||||||||||||
(b) | Mobile subscription revenue excludes mobile interconnect revenue of $60.4 million and $56.3 million during the three months ended September 30, 2014 and 2013, respectively, and $184.2 million and $113.0 million during the nine months ended September 30, 2014 and 2013, respectively. Mobile interconnect revenue and revenue from mobile handset sales are included in other revenue. | |||||||||||||||
(c) | B2B revenue includes revenue from business broadband internet, video, voice, wireless and data services offered to medium to large enterprises and, on a wholesale basis, to other operators. We also provide services to certain small office and home office (SOHO) subscribers. SOHO subscribers pay a premium price to receive enhanced service levels along with video, broadband internet, fixed-line telephony or mobile services that are the same or similar to the mass marketed products offered to our residential subscribers. Revenue from SOHO subscribers, which aggregated $50.3 million and $37.9 million during the three months ended September 30, 2014 and 2013, respectively, and $146.5 million and $106.0 million during the nine months ended September 30, 2014 and 2013, respectively, is included in cable subscription revenue. | |||||||||||||||
(d) | Other revenue includes, among other items, interconnect, carriage fee and installation revenue. | |||||||||||||||
Geographic Segments | ||||||||||||||||
The revenue of our geographic segments is set forth below: | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
in millions | ||||||||||||||||
European Operations Division: | ||||||||||||||||
U.K. (a) | $ | 1,747.00 | $ | 1,587.40 | $ | 5,249.50 | $ | 1,988.70 | ||||||||
Germany | 671.7 | 641.3 | 2,056.40 | 1,884.10 | ||||||||||||
Belgium | 575.7 | 545.6 | 1,732.30 | 1,616.20 | ||||||||||||
Switzerland | 353.2 | 332.1 | 1,071.30 | 982 | ||||||||||||
The Netherlands | 301.6 | 305.4 | 936 | 923.4 | ||||||||||||
Poland | 116.9 | 110.9 | 358.6 | 340.6 | ||||||||||||
Ireland | 116.4 | 115.2 | 358.1 | 341.9 | ||||||||||||
Austria | 107.4 | 108.3 | 329.8 | 323.8 | ||||||||||||
Hungary | 62.2 | 63.7 | 191.6 | 190.9 | ||||||||||||
The Czech Republic | 47.4 | 54 | 149.4 | 166.1 | ||||||||||||
Romania | 37.7 | 34.7 | 111.9 | 103.6 | ||||||||||||
Slovakia | 15.6 | 15.8 | 48.2 | 47.2 | ||||||||||||
Other (b) | 34.7 | 33.4 | 101.2 | 96.7 | ||||||||||||
Total European Operations Division | 4,187.50 | 3,947.80 | 12,694.30 | 9,005.20 | ||||||||||||
Chile | 223.7 | 244.8 | 678.8 | 747.9 | ||||||||||||
Puerto Rico | 76.3 | 74.7 | 227.6 | 221.9 | ||||||||||||
Other, including intersegment eliminations | 9.7 | 9.2 | 32.4 | 31.2 | ||||||||||||
Total | $ | 4,497.20 | $ | 4,276.50 | $ | 13,633.10 | $ | 10,006.20 | ||||||||
_______________ | ||||||||||||||||
(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 the Czech Republic, Hungary, Romania and Slovakia. |
Subsequent_Events
Subsequent Events | 9 Months Ended | ||||
Sep. 30, 2014 | |||||
Subsequent Events [Abstract] | ' | ||||
Subsequent Events | ' | ||||
Subsequent Events | |||||
Virgin Media Refinancing Transactions | |||||
On October 7, 2014, Virgin Media Finance PLC (Virgin Media Finance), a wholly-owned subsidiary of Virgin Media, issued (i) £300.0 million ($486.6 million) principal amount of 6.375% senior notes due October 15, 2024 (the 2024 VM Sterling Senior Notes) and (ii) $500.0 million principal amount of 6.0% senior notes due October 15, 2024 (the 2024 VM Dollar Senior Notes and, together with the 2024 VM Sterling Senior Notes, the 2024 VM Senior Notes). On October 24, 2014, the net proceeds from the 2024 VM Senior Notes were used to fully redeem (i) the $507.1 million principal amount of 8.375% senior notes due 2019 and (ii) the £253.5 million ($411.2 million) principal amount of 8.875% senior notes due 2019, including the related redemption premium. | |||||
The 2024 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 2024 VM Senior Notes are guaranteed on a senior basis by Virgin Media and certain subsidiaries of Virgin Media, and on a senior subordinated basis by VMIH and Virgin Media Investments Limited. | |||||
The 2024 VM 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 Net Leverage Ratio test, as defined in the applicable indenture. In addition, the 2024 VM 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 £75.0 million ($121.7 million) or more in the aggregate of Virgin Media Finance or any of the Restricted Subsidiaries (as defined in the applicable indenture) is an event of default under the 2024 VM Senior Notes. | |||||
Subject to the circumstances described below, the 2024 VM Senior Notes are non-callable until October 15, 2019. At any time prior to October 15, 2019, Virgin Media Finance may redeem some or all of the 2024 VM Senior 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 applicable indenture) as of the redemption date plus 50 basis points. | |||||
Virgin Media Finance may redeem some or all of the 2024 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 redemption date, if redeemed during the twelve-month period commencing on October 15 of the years set forth below: | |||||
Redemption price | |||||
Year | 2024 VM Sterling Senior Notes | 2024 VM Dollar Senior Notes | |||
2019 | 103.19% | 103.00% | |||
2020 | 102.13% | 102.00% | |||
2021 | 101.06% | 101.00% | |||
2022 and thereafter | 100.00% | 100.00% | |||
If Virgin Media Finance or the Restricted Subsidiaries (as defined in the applicable indenture) sell certain assets or if Virgin Media Communications or certain of its subsidiaries experience specific changes in control, Virgin Media Finance must offer to repurchase the 2024 VM Senior Notes at a redemption price of 101%. | |||||
Unitymedia KabelBW Refinancing Transactions | |||||
On October 22, 2014, Unitymedia KabelBW issued $900.0 million principal amount of 6.125% senior notes due January 2025 (the 2025 UM Senior Notes). On November 7, 2014, the net proceeds from the 2025 UM Senior Notes will be used to fully redeem Unitymedia KabelBW’s €665.0 million ($839.9 million) principal amount of 9.625% senior notes due December 1, 2019, including the related redemption premium. | |||||
The 2025 UM Senior Notes are senior obligations of Unitymedia KabelBW that rank equally with all of the existing and future senior debt of Unitymedia KabelBW and are senior to all existing and future subordinated debt of Unitymedia KabelBW. The 2025 UM Senior Notes are guaranteed on a senior subordinated basis by various subsidiaries of Unitymedia KabelBW and will be secured by a first-ranking pledge over the shares of Unitymedia KabelBW and certain other share and/or asset securities of certain of its subsidiaries on or prior to January 25, 2015. | |||||
The 2025 UM 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 Net Leverage Ratio test, as defined in the indenture. In addition, the 2025 UM 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 €75.0 million ($94.7 million) or more in the aggregate of Unitymedia KabelBW or the Restricted Subsidiaries (as defined in the applicable indenture) is an event of default under the 2025 UM Senior Notes. | |||||
Subject to the circumstances described below, the 2025 UM Senior Notes are non-callable until January 15, 2020. At any time prior to January 15, 2020 Unitymedia KabelBW may redeem some or all of the 2025 UM Senior 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. | |||||
Unitymedia KabelBW may redeem some or all of the 2025 UM 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 indenture), if any, to the redemption date, if redeemed during the twelve-month period commencing on January 15 of the years set forth below: | |||||
Year | Redemption price | ||||
2020 | 103.06% | ||||
2021 | 102.04% | ||||
2022 | 101.02% | ||||
2023 and thereafter | 100.00% | ||||
If Unitymedia KabelBW or certain of its subsidiaries sell certain assets or experience specific changes in control, Unitymedia KabelBW must offer to repurchase the 2025 UM Senior Notes at a redemption price of 101%. |
Acquisitions_and_Discontinued_1
Acquisitions and Discontinued Operation (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Chellomedia [Member] | ' | |||||||||||
Business Acquisition [Line Items] | ' | |||||||||||
Schedule of Operating Results of Disposal Group | ' | |||||||||||
The operating results of the Chellomedia Disposal Group for the three months ended September 30, 2013 and the nine months ended September 30, 2014 and 2013 are summarized in the following table: | ||||||||||||
Three months ended | Nine months ended | |||||||||||
30-Sep-13 | September 30, | |||||||||||
2014 (a) | 2013 | |||||||||||
in millions | ||||||||||||
Revenue | $ | 94.7 | $ | 26.6 | $ | 294.6 | ||||||
Operating income (loss) | $ | 0.7 | $ | 0.6 | $ | (2.0 | ) | |||||
Earnings (loss) before income taxes and noncontrolling interests | $ | (5.2 | ) | $ | 0.9 | $ | (4.8 | ) | ||||
Income tax expense | $ | (5.6 | ) | $ | (0.1 | ) | $ | (8.4 | ) | |||
Earnings (loss) from discontinued operation attributable to Liberty Global shareholders, net of taxes | $ | (11.6 | ) | $ | 0.8 | $ | (14.3 | ) | ||||
_______________ | ||||||||||||
(a) | Includes the operating results of the Chellomedia Disposal Group through January 31, 2014, the date the Chellomedia Disposal Group was sold. | |||||||||||
Virgin Media Acquisition [Member] | ' | |||||||||||
Business Acquisition [Line Items] | ' | |||||||||||
Pro Forma Information for Significant Acquisitions | ' | |||||||||||
The pro forma adjustments are based on certain assumptions that we believe are reasonable. | ||||||||||||
Nine months ended September 30, 2013 | ||||||||||||
in millions, except per share amount | ||||||||||||
Revenue: | ||||||||||||
Continuing operations | $ | 12,771.10 | ||||||||||
Discontinued operation | 294.6 | |||||||||||
Total | $ | 13,065.70 | ||||||||||
Net loss attributable to Liberty Global shareholders | $ | (1,178.5 | ) | |||||||||
Basic and diluted loss attributable to Liberty Global shareholders per share | $ | (1.48 | ) |
Investments_Tables
Investments (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Investments [Abstract] | ' | ||||||||
Schedule of Investments by Accounting Method | ' | ||||||||
The details of our investments are set forth below: | |||||||||
Accounting Method | September 30, | December 31, | |||||||
2014 | 2013 | ||||||||
in millions | |||||||||
Fair value: | |||||||||
Ziggo (a): | |||||||||
Not subject to re-use rights (39.0 million and 34.1 million shares, respectively) | $ | 1,825.40 | $ | 1,560.10 | |||||
Subject to re-use rights (18.0 million and 22.9 million shares, respectively) | 844.6 | 1,049.40 | |||||||
Total — Ziggo | 2,670.00 | 2,609.50 | |||||||
ITV - subject to re-use rights (b) | 875.7 | — | |||||||
Sumitomo (c) | 503.9 | 572.9 | |||||||
Other (d) | 314.7 | 299.4 | |||||||
Total — fair value | 4,364.30 | 3,481.80 | |||||||
Equity (e) | 165 | 8.9 | |||||||
Cost | 0.4 | 0.5 | |||||||
Total | $ | 4,529.70 | $ | 3,491.20 | |||||
_______________ | |||||||||
(a) | At September 30, 2014, we owned 57,000,738 shares of Ziggo. Our Ziggo shares represented 28.5% of the outstanding shares of Ziggo at September 30, 2014. At September 30, 2014, 19,965,600 of the Ziggo shares that we owned were (i) subject to a share collar (the Ziggo Collar) and (ii) pledged as collateral under a secured borrowing arrangement (the Ziggo Collar Loan). Under the terms of the Ziggo Collar, the counterparty had the right to re-use most of the Ziggo shares that were subject to the Ziggo Collar (up to an estimated 18.0 million shares at September 30, 2014), but we had the right to recall the shares that were re-used by the counterparty subject to certain costs. Pursuant to the terms of the Ziggo Collar, we lent to the counterparty 15.7 million Ziggo shares (the Lent Shares) on October 10, 2014. In addition, the counterparty had the right to retain 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 15.6 million shares at September 30, 2014). The decline in the number of shares subject to re-use rights is primarily attributable to a partial settlement in January 2014 of the Ziggo Collar and Ziggo Collar Loan. On November 5, 2014, in connection with our declaration that the Ziggo Offer is unconditional (see note 3), we announced that we are terminating the Ziggo Collar, which we expect to occur on November 6, 2014. In connection with the termination of the Ziggo Collar, we will settle the Ziggo Collar Loan and the counterparty will be relieved of its obligation to redeliver to us the Lent Shares. | ||||||||
(b) | On July 17, 2014, we acquired an aggregate of 259,820,065 shares of ITV plc (ITV) from British Sky Broadcasting Group plc at a price of £1.85 ($3.14 at the transaction date) per share, for a total investment of £480.7 million ($816.3 million at the transaction date). ITV is a commercial broadcaster in the U.K. Our ITV shares represented 6.4% of the total outstanding shares of ITV based on the most current publicly-available information. All of our ITV shares are subject to a share collar (the ITV Collar) and pledged as collateral under a secured borrowing arrangement (the ITV Collar Loan). Under the terms of the ITV Collar, the counterparty has the right to re-use all of the pledged ITV shares. For additional information regarding the ITV Collar Loan and the ITV Collar, including a description of the related re-use rights and the impact of the ITV Collar on the dividends we receive on our ITV shares, see note 5. | ||||||||
(c) | At September 30, 2014, 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, 2014. These shares secure a loan (the Sumitomo Collar Loan) to Liberty Programming Japan LLC, our wholly-owned subsidiary. | ||||||||
(d) | Includes various fair value investments, the most significant of which is our 17.0% interest in ITI Neovision S.A. (formerly Canal+ Cyfrowy S.A.), a privately-held direct-to-home (DTH) operator in Poland. | ||||||||
(e) | The September 30, 2014 amount includes our investment in All3Media Holdings Limited (All3Media), an independent television, film and digital production and distribution company in the U.K. Our investment in All3Media is held through our 50.0% interest in DLG Acquisition Limited (DLG), a joint venture between one of our subsidiaries and a subsidiary of Discovery Communications, Inc. (Discovery). In September 2014, we and a subsidiary of Discovery each contributed £90.0 million ($147.2 million at the transaction date) to DLG in connection with DLG’s acquisition of 100% of All3Media. |
Derivative_Instruments_Tables
Derivative Instruments (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
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, 2014 | December 31, 2013 | |||||||||||||||||||||||
Current | Long-term (a) | Total | Current | Long-term (a) | Total | |||||||||||||||||||
in millions | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Cross-currency and interest rate derivative contracts (b) | $ | 451.7 | $ | 616.1 | $ | 1,067.80 | $ | 248.4 | $ | 520.8 | $ | 769.2 | ||||||||||||
Equity-related derivative instruments (c) | — | 453.3 | 453.3 | — | 430.4 | 430.4 | ||||||||||||||||||
Foreign currency forward contracts | 5.8 | — | 5.8 | 2.6 | — | 2.6 | ||||||||||||||||||
Other | 0.6 | 0.7 | 1.3 | 1.1 | 0.9 | 2 | ||||||||||||||||||
Total | $ | 458.1 | $ | 1,070.10 | $ | 1,528.20 | $ | 252.1 | $ | 952.1 | $ | 1,204.20 | ||||||||||||
Liabilities: | ||||||||||||||||||||||||
Cross-currency and interest rate derivative contracts (b) | $ | 1,035.00 | $ | 1,556.90 | $ | 2,591.90 | $ | 727.2 | $ | 2,191.40 | $ | 2,918.60 | ||||||||||||
Equity-related derivative instruments (c) | 160.1 | 60.8 | 220.9 | 15.6 | 101.3 | 116.9 | ||||||||||||||||||
Foreign currency forward contracts | 0.9 | — | 0.9 | 8.2 | 12 | 20.2 | ||||||||||||||||||
Other | 0.2 | 0.2 | 0.4 | 0.2 | 0.6 | 0.8 | ||||||||||||||||||
Total | $ | 1,196.20 | $ | 1,617.90 | $ | 2,814.10 | $ | 751.2 | $ | 2,305.30 | $ | 3,056.50 | ||||||||||||
_______________ | ||||||||||||||||||||||||
(a) | 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, 2014 and December 31, 2013, (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 $25.2 million and $9.8 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 $102.2 million and $173.0 million, respectively. The adjustments to our derivative assets relate to the credit 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 a net gain (loss) of ($31.2 million) and $85.1 million during the three months ended September 30, 2014 and 2013, respectively, and a net gain (loss) of ($80.1 million) and $39.6 million during the nine months ended September 30, 2014 and 2013, respectively. These amounts are included in realized and unrealized gains (losses) on derivative instruments, net, in our condensed consolidated statements of operations. For further information concerning our fair value measurements, see note 6. | |||||||||||||||||||||||
(c) | Our equity-related derivative instruments include the fair value of (i) the Ziggo Collar, as described in note 4, (ii) as of September 30, 2014, the ITV Collar, (iii) the share collar (the Sumitomo Collar) with respect to the Sumitomo shares held by our company and (iv) Virgin Media’s conversion hedges (the Virgin Media Capped Calls) with respect to the VM Convertible Notes, as defined and described in note 8. The fair values of the Ziggo Collar, the ITV 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, the ITV Collar and the Sumitomo Collar. | |||||||||||||||||||||||
Schedule of Realized and Unrealized Losses on Derivative Instruments | ' | |||||||||||||||||||||||
The details of our realized and unrealized gains (losses) on derivative instruments, net, are as follows: | ||||||||||||||||||||||||
Three months ended | Nine months ended | |||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Cross-currency and interest rate derivative contracts | $ | 611.3 | $ | (727.2 | ) | $ | (94.6 | ) | $ | (384.2 | ) | |||||||||||||
Equity-related derivative instruments: | ||||||||||||||||||||||||
Ziggo Collar | (68.1 | ) | (65.7 | ) | (74.0 | ) | (65.7 | ) | ||||||||||||||||
ITV Collar | (65.2 | ) | — | (65.2 | ) | — | ||||||||||||||||||
Sumitomo Collar | 29 | (34.3 | ) | 13.7 | (174.3 | ) | ||||||||||||||||||
Virgin Media Capped Calls | 0.3 | 5.8 | 1.2 | (3.8 | ) | |||||||||||||||||||
Total equity-related derivative instruments | (104.0 | ) | (94.2 | ) | (124.3 | ) | (243.8 | ) | ||||||||||||||||
Foreign currency forward contracts | 21.5 | (55.3 | ) | 41.9 | (56.4 | ) | ||||||||||||||||||
Other | (0.9 | ) | 1.3 | (0.3 | ) | 1.1 | ||||||||||||||||||
Total | $ | 527.9 | $ | (875.4 | ) | $ | (177.3 | ) | $ | (683.3 | ) | |||||||||||||
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, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Operating activities | $ | (415.5 | ) | $ | (393.4 | ) | ||||||||||||||||||
Investing activities | (16.6 | ) | (66.6 | ) | ||||||||||||||||||||
Financing activities | (146.7 | ) | 537 | |||||||||||||||||||||
Total | $ | (578.8 | ) | $ | 77 | |||||||||||||||||||
Cross-currency and interest rate derivative contracts | ' | |||||||||||||||||||||||
Derivative [Line Items] | ' | |||||||||||||||||||||||
Schedule of Derivative Instruments | ' | |||||||||||||||||||||||
The terms of our outstanding cross-currency swap contracts at September 30, 2014 are as follows: | ||||||||||||||||||||||||
Subsidiary / | Notional | Notional | Interest rate | Interest rate | ||||||||||||||||||||
Final maturity date | amount | amount | due from | due to | ||||||||||||||||||||
due from | due to | counterparty | counterparty | |||||||||||||||||||||
counterparty | counterparty | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Virgin Media Investment Holdings Limited (VMIH), a subsidiary of Virgin Media: | ||||||||||||||||||||||||
Feb-22 | $ | 1,400.00 | £ | 873.6 | 5.01% | 5.49% | ||||||||||||||||||
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-21 | $ | 500 | £ | 308.9 | 5.25% | 6 mo. GBP LIBOR + 2.06% | ||||||||||||||||||
Jan-22 | $ | 425 | £ | 255.8 | 5.50% | 5.82% | ||||||||||||||||||
Oct-14 | $ | 330 | £ | 199.4 | 8.38% | 9.08% | ||||||||||||||||||
October 2014 - October 2022 | $ | 330 | £ | 199.4 | 6.00% | 6.44% | ||||||||||||||||||
Apr-19 | $ | 291.5 | £ | 186.2 | 5.38% | 5.49% | ||||||||||||||||||
Oct-19 | $ | 170 | £ | 102.9 | 8.38% | 9.05% | ||||||||||||||||||
November 2016 (a) | $ | 55 | £ | 27.7 | 6.50% | 7.03% | ||||||||||||||||||
October 2019 - October 2022 | $ | 50 | £ | 30.7 | 6.00% | 5.75% | ||||||||||||||||||
UPC Broadband Holding BV (UPC Broadband Holding), a subsidiary of UPC Holding: | ||||||||||||||||||||||||
Jul-18 | $ | 525 | € | 396.3 | 6 mo. LIBOR + 1.99% | 6.25% | ||||||||||||||||||
Dec-14 | $ | 340 | € | 244.6 | 6 mo. LIBOR | 6 mo. EURIBOR | ||||||||||||||||||
Subsidiary / | Notional | Notional | Interest rate | Interest rate | ||||||||||||||||||||
Final maturity date | amount | amount | due from | due to | ||||||||||||||||||||
due from | due to | counterparty | counterparty | |||||||||||||||||||||
counterparty | counterparty | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Jan-20 | $ | 327.5 | € | 249.5 | 6 mo. LIBOR + 4.92% | 7.52% | ||||||||||||||||||
January 2015 - July 2021 | $ | 312 | € | 240 | 6 mo. LIBOR + 2.50% | 6 mo. EURIBOR + 2.87% | ||||||||||||||||||
Jan-15 | $ | 300 | € | 226.5 | 6 mo. LIBOR + 1.75% | 5.78% | ||||||||||||||||||
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% | ||||||||||||||||||
Nov-19 | $ | 250 | € | 181.5 | 7.25% | 7.74% | ||||||||||||||||||
Nov-21 | $ | 250 | € | 181.4 | 7.25% | 7.50% | ||||||||||||||||||
December 2014 - July 2018 | $ | 200 | € | 151 | 6 mo. LIBOR + 3.00% | 7.31% | ||||||||||||||||||
Jan-20 | $ | 197.5 | € | 150.5 | 6 mo. LIBOR + 4.92% | 6 mo. EURIBOR + 4.91% | ||||||||||||||||||
Jul-21 | $ | 128 | € | 97.2 | 6 mo. LIBOR + 2.50% | 6 mo. EURIBOR + 2.90% | ||||||||||||||||||
January 2015 - July 2018 | $ | 100 | € | 75.4 | 6 mo. LIBOR + 1.75% | 5.77% | ||||||||||||||||||
January 2015 - July 2021 | $ | 405.9 | CHF | 373.1 | 6 mo. LIBOR + 2.50% | 6 mo. CHF LIBOR + 2.63% | ||||||||||||||||||
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% | ||||||||||||||||||
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% | ||||||||||||||||||
Jan-15 | $ | 171.5 | CHF | 187.1 | 6 mo. LIBOR + 2.75% | 6 mo. CHF LIBOR + 2.95% | ||||||||||||||||||
Dec-14 | $ | 340 | CLP | 181,322.00 | 6 mo. LIBOR + 1.75% | 8.76% | ||||||||||||||||||
Jul-20 | $ | 201.5 | RON | 489.3 | 6 mo. LIBOR + 3.50% | 11.34% | ||||||||||||||||||
Jan-15 | € | 898.4 | CHF | 1,466.00 | 6 mo. EURIBOR + 1.68% | 6 mo. CHF LIBOR + 1.94% | ||||||||||||||||||
January 2015 - January 2021 | € | 720.8 | CHF | 877 | 6 mo. EURIBOR + 2.50% | 6 mo. CHF LIBOR + 2.62% | ||||||||||||||||||
January 2015 - September 2022 | € | 383.8 | CHF | 477 | 6 mo. EURIBOR + 2.00% | 6 mo. CHF LIBOR + 2.22% | ||||||||||||||||||
January 2015 - January 2017 | € | 360.4 | CHF | 589 | 6 mo. EURIBOR + 3.75% | 6 mo. CHF LIBOR + 3.94% | ||||||||||||||||||
Apr-18 | € | 285.1 | CHF | 346.7 | 10.51% | 9.87% | ||||||||||||||||||
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% | ||||||||||||||||||
Dec-14 | € | 134.2 | CLP | 107,800.00 | 6 mo. EURIBOR + 2.00% | 10.00% | ||||||||||||||||||
Dec-15 | € | 69.1 | CLP | 53,000.00 | 3.50% | 5.75% | ||||||||||||||||||
Jan-15 | € | 365.8 | CZK | 10,521.80 | 5.48% | 5.99% | ||||||||||||||||||
January 2015 - January 2020 | € | 318.9 | CZK | 8,818.70 | 5.58% | 5.44% | ||||||||||||||||||
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% | ||||||||||||||||||
Subsidiary / | Notional | Notional | Interest rate | Interest rate | ||||||||||||||||||||
Final maturity date | amount | amount | due from | due to | ||||||||||||||||||||
due from | due to | counterparty | counterparty | |||||||||||||||||||||
counterparty | counterparty | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
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 | € | 400.5 | PLN | 1,605.60 | 5.50% | 7.50% | ||||||||||||||||||
January 2015 - January 2017 | € | 245 | PLN | 1,000.60 | 5.50% | 9.03% | ||||||||||||||||||
Sep-16 | € | 200 | PLN | 892.7 | 6.00% | 8.19% | ||||||||||||||||||
January 2015 - January 2020 | € | 144.6 | PLN | 605 | 5.50% | 7.98% | ||||||||||||||||||
Jul-17 | € | 82 | PLN | 318 | 3.00% | 5.60% | ||||||||||||||||||
Dec-14 | CLP 181,322.0 | $ | 340 | 8.76% | 6 mo. LIBOR + 1.75% | |||||||||||||||||||
Dec-14 | CLP 107,800.0 | EUR | 134.2 | 10.00% | 6 mo. EURIBOR + 2.00% | |||||||||||||||||||
Dec-15 | CLP 53,000.0 | EUR | 69.1 | 5.75% | 3.50% | |||||||||||||||||||
Unitymedia Hessen GmbH & Co. KG (Unitymedia Hessen), a subsidiary of Unitymedia KabelBW: | ||||||||||||||||||||||||
Jan-21 | $ | 797.1 | € | 546.5 | 5.50% | 5.60% | ||||||||||||||||||
Mar-19 | $ | 459.3 | € | 326.5 | 7.50% | 7.98% | ||||||||||||||||||
Jan-23 | $ | 202.9 | € | 141.7 | 5.50% | 5.33% | ||||||||||||||||||
VTR GlobalCom: | ||||||||||||||||||||||||
Jan-22 | $ | 1,400.00 | CLP | 760,340.00 | 6.88% | 10.94% | ||||||||||||||||||
_______________ | ||||||||||||||||||||||||
(a) | Unlike the other cross-currency swaps presented in this table, the identified cross-currency swap does not involve the exchange of notional amounts at the inception and maturity of the instrument. Accordingly, the only cash flows associated with this instrument are interest payments and receipts. | |||||||||||||||||||||||
Interest Rate Swap [Member] | ' | |||||||||||||||||||||||
Derivative [Line Items] | ' | |||||||||||||||||||||||
Schedule of Derivative Instruments | ' | |||||||||||||||||||||||
The terms of our outstanding interest rate swap contracts at September 30, 2014 are as follows: | ||||||||||||||||||||||||
Subsidiary / Final maturity date | 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 | 2.90% | ||||||||||||||||||||
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-15 | € | 1,554.00 | 1 mo. EURIBOR + 3.75% | 6 mo. EURIBOR + 3.56% | ||||||||||||||||||||
Jan-15 | € | 1,364.80 | 6 mo. EURIBOR | 3.44% | ||||||||||||||||||||
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% | ||||||||||||||||||||
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% | ||||||||||||||||||||
January 2015 - January 2018 | € | 175 | 6 mo. EURIBOR | 3.74% | ||||||||||||||||||||
January 2015 - July 2020 | € | 171.3 | 6 mo. EURIBOR | 3.95% | ||||||||||||||||||||
Jul-20 | € | 171.3 | 6 mo. EURIBOR | 4.32% | ||||||||||||||||||||
Dec-14 | € | 107 | 6 mo. EURIBOR | 4.73% | ||||||||||||||||||||
January 2015 - November 2021 | € | 107 | 6 mo. EURIBOR | 2.89% | ||||||||||||||||||||
Jan-15 | 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), a subsidiary of Telenet: | ||||||||||||||||||||||||
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 | 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% | ||||||||||||||||||||
Interest Rate Cap [Member] | ' | |||||||||||||||||||||||
Derivative [Line Items] | ' | |||||||||||||||||||||||
Schedule of Derivative Instruments | ' | |||||||||||||||||||||||
Our purchased and sold interest rate cap contracts with respect to EURIBOR at September 30, 2014 are detailed below: | ||||||||||||||||||||||||
Subsidiary / Final maturity date | Notional amount | EURIBOR cap rate | ||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Interest rate caps purchased (a): | ||||||||||||||||||||||||
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 | € | 0.8 | 6.50% | |||||||||||||||||||||
Dec-17 | € | 0.8 | 5.50% | |||||||||||||||||||||
Interest rate cap sold (b): | ||||||||||||||||||||||||
UPC Broadband Holding: | ||||||||||||||||||||||||
January 2015 - January 2020 | € | 735 | 7.00% | |||||||||||||||||||||
_______________ | ||||||||||||||||||||||||
(a) | Our purchased interest rate caps entitle us to receive payments from the counterparty when EURIBOR exceeds the EURIBOR cap rate. | |||||||||||||||||||||||
(b) | Our sold interest rate cap requires that we make payments to the counterparty when EURIBOR exceeds the EURIBOR cap rate. | |||||||||||||||||||||||
Interest Rate Collar [Member] | ' | |||||||||||||||||||||||
Derivative [Line Items] | ' | |||||||||||||||||||||||
Schedule of Derivative Instruments | ' | |||||||||||||||||||||||
Our interest rate collar contracts establish floor and cap rates with respect to EURIBOR on the indicated notional amounts at September 30, 2014, as detailed below: | ||||||||||||||||||||||||
Subsidiary / Final maturity date | Notional | EURIBOR floor rate (a) | EURIBOR cap rate (b) | |||||||||||||||||||||
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) | We make payments to the counterparty when EURIBOR is less than the EURIBOR floor rate. | |||||||||||||||||||||||
(b) | We receive payments from the counterparty when EURIBOR is greater than the EURIBOR cap rate. | |||||||||||||||||||||||
Foreign Exchange Forward [Member] | ' | |||||||||||||||||||||||
Derivative [Line Items] | ' | |||||||||||||||||||||||
Schedule of Derivative Instruments | ' | |||||||||||||||||||||||
Foreign Currency Forwards | ||||||||||||||||||||||||
The following table summarizes our outstanding foreign currency forward contracts at September 30, 2014: | ||||||||||||||||||||||||
Subsidiary | Currency | Currency | Maturity dates | |||||||||||||||||||||
purchased | sold | |||||||||||||||||||||||
forward | forward | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
LGE Financing | $ | 301.4 | € | 236.5 | Oct-14 | |||||||||||||||||||
LGE Financing | £ | 52.5 | € | 67.2 | Oct-14 | |||||||||||||||||||
UPC Broadband Holding | $ | 1.5 | CZK | 29.8 | October 2014 - March 2015 | |||||||||||||||||||
UPC Broadband Holding | € | 30.6 | CHF | 37.3 | October 2014 - September 2015 | |||||||||||||||||||
UPC Broadband Holding | € | 9 | CZK | 244.5 | October 2014 - March 2015 | |||||||||||||||||||
UPC Broadband Holding | € | 8.2 | HUF | 2,550.00 | October 2014 - March 2015 | |||||||||||||||||||
UPC Broadband Holding | € | 24 | PLN | 102.4 | October 2014 - March 2015 | |||||||||||||||||||
UPC Broadband Holding | £ | 2.1 | € | 2.5 | October 2014 - March 2015 | |||||||||||||||||||
UPC Broadband Holding | CHF | 22 | € | 18.2 | Oct-14 | |||||||||||||||||||
UPC Broadband Holding | CZK | 300 | € | 10.9 | Oct-14 | |||||||||||||||||||
UPC Broadband Holding | HUF | 4,500.00 | € | 14.5 | Oct-14 | |||||||||||||||||||
UPC Broadband Holding | PLN | 55 | € | 13.2 | Oct-14 | |||||||||||||||||||
UPC Broadband Holding | RON | 33.5 | € | 7.6 | Oct-14 | |||||||||||||||||||
Telenet NV | $ | 10.5 | € | 7.7 | October 2014 - December 2014 | |||||||||||||||||||
VTR GlobalCom | $ | 28.2 | CLP | 16,248.60 | October 2014 - September 2015 | |||||||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
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, 2014 using: | ||||||||||||||||
Description | September 30, | Quoted prices | Significant | Significant | ||||||||||||
2014 | 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 | $ | 1,067.80 | $ | — | $ | 1,067.80 | $ | — | ||||||||
Equity-related derivative instruments | 453.3 | — | — | 453.3 | ||||||||||||
Foreign currency forward contracts | 5.8 | — | 5.8 | — | ||||||||||||
Other | 1.3 | — | 1.3 | — | ||||||||||||
Total derivative instruments | 1,528.20 | — | 1,074.90 | 453.3 | ||||||||||||
Investments | 4,364.30 | 4,049.60 | — | 314.7 | ||||||||||||
Total assets | $ | 5,892.50 | $ | 4,049.60 | $ | 1,074.90 | $ | 768 | ||||||||
Liabilities - derivative instruments: | ||||||||||||||||
Cross-currency and interest rate derivative contracts | $ | 2,591.90 | $ | — | $ | 2,591.90 | $ | — | ||||||||
Equity-related derivative instruments | 220.9 | — | — | 220.9 | ||||||||||||
Foreign currency forward contracts | 0.9 | — | 0.9 | — | ||||||||||||
Other | 0.4 | — | 0.4 | — | ||||||||||||
Total liabilities | $ | 2,814.10 | $ | — | $ | 2,593.20 | $ | 220.9 | ||||||||
Fair value measurements at | ||||||||||||||||
December 31, 2013 using: | ||||||||||||||||
Description | December 31, 2013 | 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 | $ | 769.2 | $ | — | $ | 769.2 | $ | — | ||||||||
Equity-related derivative instruments | 430.4 | — | — | 430.4 | ||||||||||||
Foreign currency forward contracts | 2.6 | — | 2.6 | — | ||||||||||||
Other | 2 | — | 2 | — | ||||||||||||
Total derivative instruments | 1,204.20 | — | 773.8 | 430.4 | ||||||||||||
Investments | 3,481.80 | 3,182.40 | — | 299.4 | ||||||||||||
Total assets | $ | 4,686.00 | $ | 3,182.40 | $ | 773.8 | $ | 729.8 | ||||||||
Liabilities - derivative instruments: | ||||||||||||||||
Cross-currency and interest rate derivative contracts | $ | 2,918.60 | $ | — | $ | 2,918.60 | $ | — | ||||||||
Equity-related derivative instruments | 116.9 | — | — | 116.9 | ||||||||||||
Foreign currency forward contracts | 20.2 | — | 20.2 | — | ||||||||||||
Other | 0.8 | — | 0.8 | — | ||||||||||||
Total liabilities | $ | 3,056.50 | $ | — | $ | 2,939.60 | $ | 116.9 | ||||||||
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, 2014 | $ | 299.4 | $ | 313.5 | $ | 612.9 | ||||||||||
Partial settlement of the Ziggo Collar (a) | — | 17.9 | 17.9 | |||||||||||||
Gains (losses) included in net loss (b): | ||||||||||||||||
Realized and unrealized losses on derivative instruments, net | — | (124.3 | ) | (124.3 | ) | |||||||||||
Realized and unrealized gains due to changes in fair values of certain investments, net | 29.5 | — | 29.5 | |||||||||||||
Foreign currency translation adjustments and other, net | (14.2 | ) | 25.3 | 11.1 | ||||||||||||
Balance of net assets at September 30, 2014 | $ | 314.7 | $ | 232.4 | $ | 547.1 | ||||||||||
_______________ | ||||||||||||||||
(a) | For additional information regarding the Ziggo Collar, see note 4. | |||||||||||||||
(b) | Most of these net gains (losses) relate to assets and liabilities that we continue to carry on our condensed consolidated balance sheet as of September 30, 2014. |
Longlived_Assets_Tables
Long-lived Assets (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Long lived Assets | ' | ||||||||||||||||||||||||
Schedule of PP&E | ' | ||||||||||||||||||||||||
The details of our property and equipment and the related accumulated depreciation are set forth below: | |||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||
Distribution systems | $ | 24,884.20 | $ | 25,193.20 | |||||||||||||||||||||
Customer premises equipment | 6,297.10 | 6,126.00 | |||||||||||||||||||||||
Support equipment, buildings and land | 3,706.10 | 3,581.90 | |||||||||||||||||||||||
34,887.40 | 34,901.10 | ||||||||||||||||||||||||
Accumulated depreciation | (12,767.8 | ) | (10,926.2 | ) | |||||||||||||||||||||
Total property and equipment, net | $ | 22,119.60 | $ | 23,974.90 | |||||||||||||||||||||
Schedule of Changes in Carrying Amount of Goodwill | ' | ||||||||||||||||||||||||
Changes in the carrying amount of our goodwill during the nine months ended September 30, 2014 are set forth below: | |||||||||||||||||||||||||
1-Jan-14 | Acquisitions | Foreign | September 30, | ||||||||||||||||||||||
and related | currency | 2014 | |||||||||||||||||||||||
adjustments | translation | ||||||||||||||||||||||||
adjustments and other | |||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||
European Operations Division: | |||||||||||||||||||||||||
U.K. (Virgin Media) | $ | 9,598.20 | $ | — | $ | (201.1 | ) | $ | 9,397.10 | ||||||||||||||||
Germany (Unitymedia KabelBW) | 3,939.40 | — | (331.4 | ) | 3,608.00 | ||||||||||||||||||||
Belgium (Telenet) | 2,255.10 | — | (189.7 | ) | 2,065.40 | ||||||||||||||||||||
The Netherlands | 1,260.40 | — | (106.1 | ) | 1,154.30 | ||||||||||||||||||||
Switzerland | 3,197.40 | — | (221.4 | ) | 2,976.00 | ||||||||||||||||||||
Other Western Europe | 1,079.70 | — | (90.8 | ) | 988.9 | ||||||||||||||||||||
Total Western Europe | 21,330.20 | — | (1,140.5 | ) | 20,189.70 | ||||||||||||||||||||
Central and Eastern Europe | 1,520.10 | 5.1 | (147.2 | ) | 1,378.00 | ||||||||||||||||||||
Total European Operations Division | 22,850.30 | 5.1 | (1,287.7 | ) | 21,567.70 | ||||||||||||||||||||
Chile (VTR) | 508.5 | — | (61.9 | ) | 446.6 | ||||||||||||||||||||
Corporate and other | 390 | — | (8.4 | ) | 381.6 | ||||||||||||||||||||
Total | $ | 23,748.80 | $ | 5.1 | $ | (1,358.0 | ) | $ | 22,395.90 | ||||||||||||||||
Schedule of Intangible Assets Subject to Amortization, Net | ' | ||||||||||||||||||||||||
The details of our intangible assets subject to amortization are set forth below: | |||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Gross carrying amount | Accumulated amortization | Net carrying amount | Gross carrying amount | Accumulated amortization | Net carrying amount | ||||||||||||||||||||
in millions | |||||||||||||||||||||||||
Customer relationships | $ | 7,589.20 | $ | (2,886.1 | ) | $ | 4,703.10 | $ | 8,116.70 | $ | (2,458.4 | ) | $ | 5,658.30 | |||||||||||
Other | 244.3 | (132.0 | ) | 112.3 | 288.1 | (151.0 | ) | 137.1 | |||||||||||||||||
Total | $ | 7,833.50 | $ | (3,018.1 | ) | $ | 4,815.40 | $ | 8,404.80 | $ | (2,609.4 | ) | $ | 5,795.40 | |||||||||||
Debt_and_Capital_Lease_Obligat1
Debt and Capital Lease Obligations (Tables) | 9 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ||||||||||||||||||||||||||
Schedule of Consolidated 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, 2014 | Carrying value (d) | ||||||||||||||||||||||||||
Weighted | Unused borrowing capacity (b) | Estimated fair value (c) | |||||||||||||||||||||||||
average | |||||||||||||||||||||||||||
interest | |||||||||||||||||||||||||||
rate (a) | Borrowing currency | U.S. $ | 30-Sep-14 | 31-Dec-13 | 30-Sep-14 | December 31, 2013 | |||||||||||||||||||||
equivalent | |||||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||||
Debt: | |||||||||||||||||||||||||||
VM Notes | 6.11 | % | — | $ | — | $ | 8,384.50 | $ | 9,188.70 | $ | 8,272.50 | $ | 9,150.10 | ||||||||||||||
VM Credit Facility | 3.77 | % | £ | 660 | 1,070.60 | 4,821.20 | 4,388.90 | 4,887.90 | 4,352.80 | ||||||||||||||||||
VM Convertible Notes (e) | 6.5 | % | — | — | 159.8 | 164.1 | 57 | 57.5 | |||||||||||||||||||
UPCB SPE Notes | 6.88 | % | — | — | 4,322.40 | 4,536.50 | 4,075.20 | 4,219.50 | |||||||||||||||||||
UPC Broadband Holding Bank Facility | 3.57 | % | € | 1,016.20 | 1,283.40 | 3,238.50 | 5,717.80 | 3,261.00 | 5,671.40 | ||||||||||||||||||
UPC Holding Senior Notes (f) | 7.16 | % | — | — | 2,719.30 | 3,297.40 | 2,495.10 | 3,099.20 | |||||||||||||||||||
Unitymedia KabelBW Notes | 6.87 | % | — | — | 7,624.40 | 8,058.20 | 7,130.70 | 7,651.90 | |||||||||||||||||||
Unitymedia KabelBW Revolving Credit Facilities | — | € | 500 | 631.4 | — | — | — | — | |||||||||||||||||||
Telenet SPE Notes | 5.93 | % | — | — | 2,553.90 | 2,916.50 | 2,399.50 | 2,759.20 | |||||||||||||||||||
Telenet Credit Facility | 3.42 | % | € | 322.9 | 407.8 | 1,709.60 | 1,956.90 | 1,710.20 | 1,936.90 | ||||||||||||||||||
VTR Finance Senior Secured Notes | 6.88 | % | — | — | 1,451.60 | — | 1,400.00 | — | |||||||||||||||||||
Sumitomo Collar Loan | 1.88 | % | — | — | 895.7 | 939.3 | 859.8 | 894.3 | |||||||||||||||||||
ITV Collar Loan (g) | 1.73 | % | — | — | 695.2 | — | 691.2 | — | |||||||||||||||||||
Liberty Puerto Rico Bank Facility | 5.2 | % | $ | 40 | 40 | 669.1 | 666.2 | 671.9 | 665 | ||||||||||||||||||
Ziggo Collar Loan | 0.45 | % | — | — | 631.8 | 852.9 | 626.9 | 852.6 | |||||||||||||||||||
Ziggo Margin Loan (h) | — | — | — | — | 634.3 | — | 634.3 | ||||||||||||||||||||
Vendor financing (i) | 3.57 | % | — | — | 759 | 603.1 | 759 | 603.1 | |||||||||||||||||||
Other (j) | 8.97 | % | (k) | 196.8 | 185.9 | 308.2 | 185.9 | 308.2 | |||||||||||||||||||
Total debt | 5.48 | % | $ | 3,630.00 | $ | 40,821.90 | $ | 44,229.00 | 39,483.80 | 42,856.00 | |||||||||||||||||
Capital lease obligations: | |||||||||||||||||||||||||||
Unitymedia KabelBW | 852.3 | 952 | |||||||||||||||||||||||||
Telenet | 427 | 451.2 | |||||||||||||||||||||||||
Virgin Media | 298.9 | 373.5 | |||||||||||||||||||||||||
Other subsidiaries | 70.8 | 71.6 | |||||||||||||||||||||||||
Total capital lease obligations | 1,649.00 | 1,848.30 | |||||||||||||||||||||||||
Total debt and capital lease obligations | 41,132.80 | 44,704.30 | |||||||||||||||||||||||||
Current maturities | (1,669.0 | ) | (1,023.4 | ) | |||||||||||||||||||||||
Long-term debt and capital lease obligations | $ | 39,463.80 | $ | 43,680.90 | |||||||||||||||||||||||
_______________ | |||||||||||||||||||||||||||
(a) | Represents the weighted average interest rate in effect at September 30, 2014 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 instruments, 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 6.5% at September 30, 2014. For information concerning our derivative instruments, see note 5. | ||||||||||||||||||||||||||
(b) | Unused borrowing capacity represents the maximum availability under the applicable facility at September 30, 2014 without regard to covenant compliance calculations or other conditions precedent to borrowing. At September 30, 2014, 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, 2014, our availability under the UPC Broadband Holding Bank Facility (as defined and described below) was limited to €951.6 million ($1,201.8 million). When the relevant September 30, 2014 compliance reporting requirements have been completed, and assuming no changes from September 30, 2014 borrowing levels, we anticipate that our availability under the UPC Broadband Holding Bank Facility will be limited to €906.7 million ($1,145.1 million). 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. At September 30, 2014, these restrictions did not impact our ability to access the liquidity of our subsidiaries to satisfy our corporate liquidity needs beyond what is described above, except that the availability to be loaned or distributed by Virgin Media was limited to £443.0 million ($718.6 million). When the relevant September 30, 2014 compliance reporting requirements have been completed and assuming no changes from September 30, 2014 borrowing levels, we anticipate that the availability to be loaned or distributed by Virgin Media will be limited to £508.8 million ($825.3 million). | ||||||||||||||||||||||||||
(c) | The estimated fair values of our debt instruments are 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 6. | ||||||||||||||||||||||||||
(d) | Amounts include the impact of premiums and discounts, where applicable. | ||||||||||||||||||||||||||
(e) | The 6.50% convertible senior notes issued by Virgin Media (the VM Convertible Notes) are exchangeable under certain conditions for (subject to further adjustment as provided in the underlying 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, 33.4963 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 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, 2014, including both the debt and equity components. | ||||||||||||||||||||||||||
(f) | During April 2014, we used existing cash to fully redeem UPC Holding’s $400.0 million principal amount of 9.875% senior notes due 2018 (the UPC Holding 9.875% Senior Notes). In connection with this transaction, we recognized a loss on debt modification and extinguishment, net, of $41.5 million, which includes (i) the payment of $19.7 million of redemption premium, (ii) the write-off of $17.4 million of unamortized discount and (iii) the write-off of $4.4 million of deferred financing costs. | ||||||||||||||||||||||||||
(g) | For information regarding the ITV Collar Loan, see note 5. | ||||||||||||||||||||||||||
(h) | During the first quarter of 2014, we used existing cash to repay the full amount of the limited recourse margin loan (the Ziggo Margin Loan) that was secured by a portion of our investment in Ziggo. In connection with this transaction, we recognized a loss on debt modification and extinguishment, net, of $2.3 million related to the write-off of deferred financing costs. For information regarding our investment in Ziggo, see note 4. | ||||||||||||||||||||||||||
(i) | Represents amounts owed pursuant to interest-bearing vendor financing arrangements that are used to finance certain of our property and equipment additions. These obligations are generally due within one year. At September 30, 2014 and December 31, 2013, the amounts owed pursuant to these arrangements include $74.4 million and $47.3 million, respectively, of VAT that was 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. | ||||||||||||||||||||||||||
(j) | The December 31, 2013 amounts include outstanding borrowings of $113.1 million under VTR Wireless’s then-existing CLP 60.0 billion ($100.3 million) term loan bank facility (the VTR Wireless Bank Facility). In January 2014, all outstanding amounts under the VTR Wireless Bank Facility were repaid and the VTR Wireless Bank Facility was cancelled. In connection with this transaction, we recognized a loss on debt modification and extinguishment, net, of $2.0 million related to the write-off of deferred financing costs. | ||||||||||||||||||||||||||
(k) | Unused borrowing capacity relates to the senior secured revolving credit facility of entities within VTR, which includes a $160.0 million U.S. dollar facility (the VTR Dollar Senior Credit Facility) and a CLP 22.0 billion ($36.8 million) Chilean peso facility (the VTR CLP Senior Credit Facility), each of which were undrawn at September 30, 2014. The VTR Dollar Senior Credit Facility and the VTR CLP Senior Credit Facility have fees on unused commitments of 1.1% and 1.34% per year, respectively. | ||||||||||||||||||||||||||
Schedule of Maturities of Long-Term Debt | ' | ||||||||||||||||||||||||||
Maturities of Debt and Capital Lease Obligations | |||||||||||||||||||||||||||
Maturities of our debt and capital lease obligations as of September 30, 2014 are presented below for the named entity and its subsidiaries, unless otherwise noted. Amounts presented below represent U.S. dollar equivalents based on September 30, 2014 exchange rates: | |||||||||||||||||||||||||||
Debt: | |||||||||||||||||||||||||||
Virgin Media | UPC | Unitymedia KabelBW | Telenet (b) | Other (c) | Total | ||||||||||||||||||||||
Holding (a) | |||||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||||
Year ending December 31: | |||||||||||||||||||||||||||
2014 (remainder of year) | $ | 57.1 | $ | 101.7 | $ | 22.3 | $ | 9.3 | $ | 631.4 | $ | 821.8 | |||||||||||||||
2015 | 206.4 | 312.1 | 77.9 | 9.3 | 37.9 | 643.6 | |||||||||||||||||||||
2016 | — | — | — | 9.3 | 381.8 | 391.1 | |||||||||||||||||||||
2017 | — | — | — | 9.3 | 961.5 | 970.8 | |||||||||||||||||||||
2018 | — | — | — | 9.3 | 256.1 | 265.4 | |||||||||||||||||||||
2019 | 1,526.50 | — | 2,227.50 | 21.4 | — | 3,775.40 | |||||||||||||||||||||
Thereafter | 11,538.00 | 9,847.50 | 4,906.10 | 4,214.90 | 2,075.20 | 32,581.70 | |||||||||||||||||||||
Total debt maturities | 13,328.00 | 10,261.30 | 7,233.80 | 4,282.80 | 4,343.90 | 39,449.80 | |||||||||||||||||||||
Unamortized premium (discount) | 98.3 | (16.2 | ) | (2.8 | ) | (3.6 | ) | (41.7 | ) | 34 | |||||||||||||||||
Total debt | $ | 13,426.30 | $ | 10,245.10 | $ | 7,231.00 | $ | 4,279.20 | $ | 4,302.20 | $ | 39,483.80 | |||||||||||||||
Current portion | $ | 265.8 | $ | 413.8 | $ | 100.3 | $ | 9.3 | $ | 663.9 | $ | 1,453.10 | |||||||||||||||
Noncurrent portion | $ | 13,160.50 | $ | 9,831.30 | $ | 7,130.70 | $ | 4,269.90 | $ | 3,638.30 | $ | 38,030.70 | |||||||||||||||
_______________ | |||||||||||||||||||||||||||
(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 certain senior secured notes issued by special purpose financing entities that are consolidated by Telenet. | ||||||||||||||||||||||||||
(c) | The debt maturity during the remainder of 2014 includes the $631.9 million (equivalent) principal amount outstanding under the Ziggo Collar Loan. As further described in note 4, the Ziggo Collar Loan will be settled on November 6, 2014. For information regarding our acquisition of Ziggo, see note 3. | ||||||||||||||||||||||||||
Schedule of Capital Lease Obligations | ' | ||||||||||||||||||||||||||
Capital lease obligations: | |||||||||||||||||||||||||||
Unitymedia KabelBW | Telenet | Virgin Media | Other | Total | |||||||||||||||||||||||
in millions | |||||||||||||||||||||||||||
Year ending December 31: | |||||||||||||||||||||||||||
2014 (remainder of year) | $ | 23.1 | $ | 19.3 | $ | 41.9 | $ | 9.9 | $ | 94.2 | |||||||||||||||||
2015 | 92.6 | 66.5 | 123.3 | 17.6 | 300 | ||||||||||||||||||||||
2016 | 92.6 | 66.1 | 71.9 | 19.2 | 249.8 | ||||||||||||||||||||||
2017 | 92.6 | 64.3 | 30.4 | 12.4 | 199.7 | ||||||||||||||||||||||
2018 | 92.6 | 60.8 | 6.9 | 5.4 | 165.7 | ||||||||||||||||||||||
2019 | 92.6 | 50 | 4.6 | 2.8 | 150 | ||||||||||||||||||||||
Thereafter | 1,008.10 | 248.9 | 231.3 | 22.8 | 1,511.10 | ||||||||||||||||||||||
Total principal and interest payments | 1,494.20 | 575.9 | 510.3 | 90.1 | 2,670.50 | ||||||||||||||||||||||
Amounts representing interest | (641.9 | ) | (148.9 | ) | (211.4 | ) | (19.3 | ) | (1,021.5 | ) | |||||||||||||||||
Present value of net minimum lease payments | $ | 852.3 | $ | 427 | $ | 298.9 | $ | 70.8 | $ | 1,649.00 | |||||||||||||||||
Current portion | $ | 27.7 | $ | 42.3 | $ | 127.7 | $ | 18.2 | $ | 215.9 | |||||||||||||||||
Noncurrent portion | $ | 824.6 | $ | 384.7 | $ | 171.2 | $ | 52.6 | $ | 1,433.10 | |||||||||||||||||
VM Notes [Member] | ' | ||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ||||||||||||||||||||||||||
Schedule of Debt Instrument Redemption Price | ' | ||||||||||||||||||||||||||
Virgin Media Secured Finance may redeem some or all of the 2025 VM Senior Secured Notes or the 2029 VM 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 applicable indenture), if any, to the applicable redemption date, if redeemed during the twelve-month period commencing on January 15 of the years set forth below: | |||||||||||||||||||||||||||
Redemption price | |||||||||||||||||||||||||||
Year | 2025 VM Senior Secured Notes | 2029 VM Senior Secured Notes | |||||||||||||||||||||||||
2019 | 102.75% | N.A. | |||||||||||||||||||||||||
2020 | 101.83% | N.A. | |||||||||||||||||||||||||
2021 | 100.00% | 103.13% | |||||||||||||||||||||||||
2022 | 100.00% | 102.08% | |||||||||||||||||||||||||
2023 | 100.00% | 101.04% | |||||||||||||||||||||||||
2024 and thereafter | 100.00% | 100.00% | |||||||||||||||||||||||||
VM Credit Facility [Member] | ' | ||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ||||||||||||||||||||||||||
Schedule of Line of Credit Facilities | ' | ||||||||||||||||||||||||||
The details of our borrowings under the VM Credit Facility as of September 30, 2014 are summarized in the following table: | |||||||||||||||||||||||||||
Facility | Final maturity date | Interest rate | Facility amount | Unused | Carrying | ||||||||||||||||||||||
(in borrowing | borrowing | value (a) | |||||||||||||||||||||||||
currency) | capacity | ||||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||||
A | 7-Jun-19 | LIBOR + 3.25% | £ | 375 | $ | — | $ | 608.2 | |||||||||||||||||||
B | 7-Jun-20 | LIBOR + 2.75% (b) | $ | 2,755.00 | — | 2,743.50 | |||||||||||||||||||||
D | 30-Jun-22 | LIBOR + 3.25% (b) | £ | 100 | — | 161.8 | |||||||||||||||||||||
E | 30-Jun-23 | LIBOR + 3.50% (b) | £ | 849.4 | — | 1,374.40 | |||||||||||||||||||||
Revolving facility (c) | 7-Jun-19 | LIBOR + 3.25% | £ | 660 | 1,070.60 | — | |||||||||||||||||||||
Total | $ | 1,070.60 | $ | 4,887.90 | |||||||||||||||||||||||
_______________ | |||||||||||||||||||||||||||
(a) | The carrying values of VM Facilities B, D and E include the impact of discounts. | ||||||||||||||||||||||||||
(b) | VM Facilities B, D and E each have a LIBOR floor of 0.75%. | ||||||||||||||||||||||||||
UPC Broadband Holding Bank Facility [Member] | ' | ||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ||||||||||||||||||||||||||
Schedule of Debt | ' | ||||||||||||||||||||||||||
The UPC Broadband Holding Bank Facility, as amended, is the senior secured credit facility of UPC Broadband Holding. The details of our borrowings under the UPC Broadband Holding Bank Facility as of September 30, 2014 are summarized in the following table: | |||||||||||||||||||||||||||
Facility | Final maturity date | Interest rate | Facility amount | Unused | Carrying | ||||||||||||||||||||||
(in borrowing | borrowing | value (c) | |||||||||||||||||||||||||
currency) (a) | capacity (b) | ||||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||||
V (d) | January 15, 2020 | 7.63% | € | 500 | $ | — | $ | 631.5 | |||||||||||||||||||
Y (d) | July 1, 2020 | 6.38% | € | 750 | — | 947.2 | |||||||||||||||||||||
Z (d) | July 1, 2020 | 6.63% | $ | 1,000.00 | — | 1,000.00 | |||||||||||||||||||||
AC (d) | 15-Nov-21 | 7.25% | $ | 750 | — | 750 | |||||||||||||||||||||
AD (d) | January 15, 2022 | 6.88% | $ | 750 | — | 750 | |||||||||||||||||||||
AG | March 31, 2021 | EURIBOR + 3.75% | € | 1,554.40 | — | 1,959.10 | |||||||||||||||||||||
AH | June 30, 2021 | LIBOR + 2.50% (e) | $ | 1,305.00 | — | 1,301.90 | |||||||||||||||||||||
AI | April 30, 2019 | EURIBOR + 3.25% | € | 1,016.20 | 1,283.40 | — | |||||||||||||||||||||
Elimination of Facilities V, Y, Z, AC and AD in consolidation (d) | — | (4,078.7 | ) | ||||||||||||||||||||||||
Total | $ | 1,283.40 | $ | 3,261.00 | |||||||||||||||||||||||
_______________ | |||||||||||||||||||||||||||
(a) | Except as described in (d) below, amounts represent total third-party facility amounts at September 30, 2014 without giving effect to the impact of discounts. | ||||||||||||||||||||||||||
(b) | At September 30, 2014, our availability under the UPC Broadband Holding Bank Facility was limited to €951.6 million ($1,201.8 million). When the relevant September 30, 2014 compliance reporting requirements have been completed, we anticipate that our availability under the UPC Broadband Holding Bank Facility will be limited to €906.7 million ($1,145.1 million). Facility AI has a fee on unused commitments of 1.3% per year. | ||||||||||||||||||||||||||
(c) | The carrying values of Facilities AG and AH include the impact of discounts. | ||||||||||||||||||||||||||
(d) | Amounts related to certain senior secured notes (the UPCB SPE Notes) issued by special purpose financing entities (the UPCB SPEs) that are consolidated by UPC Holding and Liberty Global. The proceeds from the UPCB SPE Notes were used to fund additional Facilities V, Y, Z, AC and AD, with our wholly-owned subsidiary UPC Financing Partnership as the borrower. Accordingly, the amounts outstanding under Facilities V, Y, Z, AC and AD are eliminated in our condensed consolidated financial statements. | ||||||||||||||||||||||||||
(e) | Facility AH has a LIBOR floor of 0.75%. | ||||||||||||||||||||||||||
Telenet Credit Facility [Member] | ' | ||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ||||||||||||||||||||||||||
Schedule of Line of Credit Facilities | ' | ||||||||||||||||||||||||||
The Telenet Credit Facility, as amended, is the senior secured credit facility of Telenet International. The details of our borrowings under the Telenet Credit Facility as of September 30, 2014 are summarized in the following table: | |||||||||||||||||||||||||||
Facility | Final maturity date | Interest rate | Facility amount | Unused | Carrying | ||||||||||||||||||||||
(in borrowing | borrowing | value | |||||||||||||||||||||||||
currency) (a) | capacity (b) | ||||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||||
M (c) | 15-Nov-20 | 6.38% | € | 500 | $ | — | $ | 631.5 | |||||||||||||||||||
O (c) | 15-Feb-21 | 6.63% | € | 300 | — | 378.9 | |||||||||||||||||||||
P (c) | 15-Jun-21 | EURIBOR + 3.875% | € | 400 | — | 505.2 | |||||||||||||||||||||
S | 31-Dec-16 | EURIBOR + 2.75% | € | 36.9 | 46.6 | — | |||||||||||||||||||||
U (c) | 15-Aug-22 | 6.25% | € | 450 | — | 568.3 | |||||||||||||||||||||
V (c) | 15-Aug-24 | 6.75% | € | 250 | — | 315.7 | |||||||||||||||||||||
W (d) | 30-Jun-22 | EURIBOR + 3.25% | € | 474.1 | — | 597.5 | |||||||||||||||||||||
X | 30-Sep-20 | EURIBOR + 2.75% | € | 286 | 361.2 | — | |||||||||||||||||||||
Y (d) | 30-Jun-23 | EURIBOR + 3.50% | € | 882.9 | — | 1,112.70 | |||||||||||||||||||||
Elimination of Telenet Facilities M, O, P, U and V in consolidation (c) | — | (2,399.6 | ) | ||||||||||||||||||||||||
Total | $ | 407.8 | $ | 1,710.20 | |||||||||||||||||||||||
_______________ | |||||||||||||||||||||||||||
(a) | Except as described in (c) below, amounts represent total third-party facility amounts at September 30, 2014. | ||||||||||||||||||||||||||
(b) | Telenet Facilities S and X have a fee on unused commitments of 1.10% per year. | ||||||||||||||||||||||||||
(c) | As described below, the amounts outstanding under Telenet Facilities M, O, P, U and V are eliminated in Liberty Global’s consolidated financial statements. | ||||||||||||||||||||||||||
(d) | The carrying values of Telenet Facilities W and Y include the impact of discounts. |
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Accrued Income Taxes [Abstract] | ' | |||||||||||||||
Income Tax Benefit (Expense) Reconciliation Table | ' | |||||||||||||||
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, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
in millions | ||||||||||||||||
Computed “expected” tax benefit (expense) (a) | $ | (67.5 | ) | $ | 135.1 | $ | 94.6 | $ | 78.4 | |||||||
Change in valuation allowances | (215.9 | ) | (20.1 | ) | (358.4 | ) | (19.0 | ) | ||||||||
International rate differences (b) | 67.3 | 8.5 | 169.9 | 50.9 | ||||||||||||
Non-deductible or non-taxable interest and other expenses | (42.4 | ) | (1.5 | ) | (125.2 | ) | (84.3 | ) | ||||||||
Tax effect of intercompany financing | 41.4 | 33.8 | 122.9 | 41.2 | ||||||||||||
Enacted tax law and rate changes | 23.6 | (369.7 | ) | 29.3 | (378.1 | ) | ||||||||||
Non-deductible or non-taxable foreign currency exchange results | 52.1 | (39.6 | ) | 28.8 | (29.4 | ) | ||||||||||
Recognition of previously unrecognized tax benefits | — | — | 28.8 | — | ||||||||||||
Basis and other differences in the treatment of items associated with investments in subsidiaries and affiliates | (3.9 | ) | 5 | (15.8 | ) | (25.7 | ) | |||||||||
Change in subsidiary tax attributes due to a deemed change in control | — | 6.7 | — | (84.7 | ) | |||||||||||
Other, net | (0.3 | ) | 18.6 | (2.9 | ) | 13.9 | ||||||||||
Total income tax expense | $ | (145.6 | ) | $ | (223.2 | ) | $ | (28.0 | ) | $ | (436.8 | ) | ||||
_______________ | ||||||||||||||||
(a) | In April 2014, the U.K. corporate income tax rate decreased from 23.0% to 21.0%, with a further decline to 20.0% scheduled for April 2015. Accordingly, the statutory or “expected” tax rates used in this table are 21.0% for the 2014 periods and 23.0% for the 2013 periods. Substantially all of the impact of these rate changes on our deferred tax balances was recorded in the third quarter of 2013. | |||||||||||||||
(b) | Amounts reflect statutory rates in jurisdictions in which we operate outside of the U.K. |
Sharebased_Compensation_Tables
Share-based Compensation (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
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, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
in millions | ||||||||||||||||
Liberty Global shares: | ||||||||||||||||
Performance-based incentive awards (a) | $ | 44.2 | $ | 12.6 | $ | 88 | $ | 24.5 | ||||||||
Other share-based incentive awards | 25.1 | 79.1 | 77.5 | 140.1 | ||||||||||||
Total Liberty Global shares (b) | 69.3 | 91.7 | 165.5 | 164.6 | ||||||||||||
Telenet share-based incentive awards (c) | 1.9 | 4.9 | 12.6 | 52.4 | ||||||||||||
Other | 1.9 | 2.1 | 4.5 | 2.4 | ||||||||||||
Total | $ | 73.1 | $ | 98.7 | $ | 182.6 | $ | 219.4 | ||||||||
Included in: | ||||||||||||||||
Continuing operations: | ||||||||||||||||
Operating expense | $ | 1 | $ | 0.8 | $ | 5.9 | $ | 10.7 | ||||||||
SG&A expense | 72.1 | 97.4 | 176.7 | 207.2 | ||||||||||||
Total - continuing operations | 73.1 | 98.2 | 182.6 | 217.9 | ||||||||||||
Discontinued operation | — | 0.5 | — | 1.5 | ||||||||||||
Total | $ | 73.1 | $ | 98.7 | $ | 182.6 | $ | 219.4 | ||||||||
_______________ | ||||||||||||||||
(a) | Includes share-based compensation expense related to (i) Liberty Global performance-based restricted share units (PSUs), (ii) a challenge performance award plan issued on June 24, 2013 for certain executive officers and key employees (the Challenge Performance Awards) and (iii) for the 2014 periods, the PGUs, as defined and described below. The Challenge Performance Awards include performance-based share appreciation rights (PSARs) and PSUs. | |||||||||||||||
(b) | In connection with the Virgin Media Acquisition, 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. Virgin Media recorded share-based compensation expense of $14.4 million and $45.8 million during the three and nine months ended September 30, 2014, respectively, including compensation expense related to the Virgin Media Replacement Awards and new awards that were granted after the Virgin Media Replacement Awards were issued. 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. | |||||||||||||||
(c) | 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 its shareholder returns. In connection with these anti-dilution adjustments, Telenet recognized share-based compensation expense of $32.7 million and continues to recognize additional share-based compensation expense as the underlying options vest. 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 (Telenet 2010 SSOP). | |||||||||||||||
Summary of stock compensation not recognized | ' | |||||||||||||||
The following table provides certain information related to share-based compensation not yet recognized for share-based incentive awards related to Liberty Global ordinary shares and Telenet ordinary shares as of September 30, 2014: | ||||||||||||||||
Liberty Global | Liberty Global performance-based awards (b) | Telenet ordinary shares (c) | ||||||||||||||
ordinary shares (a) | ||||||||||||||||
Total compensation expense not yet recognized (in millions) | $ | 150 | $ | 197.3 | $ | 5.8 | ||||||||||
Weighted average period remaining for expense recognition (in years) | 2.7 | 1.5 | 2.2 | |||||||||||||
_______________ | ||||||||||||||||
(a) | Amounts relate to awards granted or assumed by Liberty Global under (i) the Liberty Global 2014 Incentive Plan, (ii) the Liberty Global 2014 Nonemployee Director Incentive Plan, (iii) the Liberty Global, Inc. 2005 Incentive Plan (as amended and restated effective June 7, 2013), (iv) the Liberty Global, Inc. 2005 Nonemployee Director Incentive Plan (as amended and restated effective June 7, 2013), (v) the Virgin Media Inc. 2010 Stock Incentive Plan (as amended and restated effective June 7, 2013) and (vi) certain other incentive plans of Virgin Media. On January 30, 2014, our shareholders approved the Liberty Global 2014 Incentive Plan and the Liberty Global 2014 Nonemployee Director Incentive Plan and, accordingly, awards are now only granted under the Liberty Global 2014 Incentive Plan and the Liberty Global 2014 Nonemployee Director Incentive Plan. | |||||||||||||||
(b) | Amounts relate to (i) the Challenge Performance Awards, (ii) PSUs and (iii) the PGUs, as defined and described below. | |||||||||||||||
(c) | 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, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Assumptions used to estimate fair value of options, share appreciation rights (SARs) and PSARs granted: | ||||||||||||||||
Risk-free interest rate | 0.81 - 1.77% | 0.36 - 1.27% | ||||||||||||||
Expected life (a) | 3.1 - 5.1 years | 3.2 - 7.1 years | ||||||||||||||
Expected volatility (a) | 25.1 - 28.7% | 26.5 - 35.8% | ||||||||||||||
Expected dividend yield | none | none | ||||||||||||||
Weighted average grant-date fair value per share of awards granted: | ||||||||||||||||
Options | $ | 11.4 | $ | 11.09 | ||||||||||||
SARs | $ | 8.93 | $ | 8.36 | ||||||||||||
PSARs | $ | 8.15 | $ | 8.31 | ||||||||||||
Restricted share units (RSUs) | $ | 39.77 | $ | 35.74 | ||||||||||||
PSUs and PGUs | $ | 42.47 | $ | 34.94 | ||||||||||||
Total intrinsic value of awards exercised (in millions): | ||||||||||||||||
Options | $ | 76.3 | $ | 114.9 | ||||||||||||
SARs | $ | 23.7 | $ | 59.6 | ||||||||||||
PSARs | $ | 0.2 | $ | — | ||||||||||||
Cash received from exercise of options (in millions) | $ | 34.3 | $ | 57.2 | ||||||||||||
Income tax benefit related to share-based compensation (in millions) | $ | 37.6 | $ | 33.2 | ||||||||||||
_______________ | ||||||||||||||||
(a) | The 2013 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. | |||||||||||||||
Employee Stock Option [Member] | Class A Ordinary Shares [Member] | ' | |||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||||||||||||||
Schedule of stock option activity | ' | |||||||||||||||
The following tables summarize the share-based award activity during the nine months ended September 30, 2014 with respect to Liberty Global ordinary shares: | ||||||||||||||||
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, 2014 | 2,708,445 | $ | 16.12 | |||||||||||||
Granted | 78,677 | $ | 42.54 | |||||||||||||
Cancelled | (47,205 | ) | $ | 22.14 | ||||||||||||
Exercised | (618,993 | ) | $ | 14.9 | ||||||||||||
Outstanding at September 30, 2014 | 2,120,924 | $ | 17.33 | 5.8 | $ | 53.5 | ||||||||||
Exercisable at September 30, 2014 | 1,212,064 | $ | 13.83 | 4.7 | $ | 34.8 | ||||||||||
Employee Stock Option [Member] | Class C Ordinary Shares [Member] | ' | |||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||||||||||||||
Schedule of stock option 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, 2014 | 7,031,369 | $ | 14.95 | |||||||||||||
Granted | 157,346 | $ | 40.86 | |||||||||||||
Cancelled | (116,915 | ) | $ | 20.78 | ||||||||||||
Exercised | (1,933,626 | ) | $ | 12.64 | ||||||||||||
Outstanding at September 30, 2014 | 5,138,174 | $ | 16.47 | 5.9 | $ | 126.2 | ||||||||||
Exercisable at September 30, 2014 | 2,876,361 | $ | 13.36 | 4.8 | $ | 79.5 | ||||||||||
Stock Appreciation Rights (SARs) [Member] | Class A Ordinary Shares [Member] | ' | |||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||||||||||||||
Schedule of stock option 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, 2014 | 4,168,758 | $ | 24.78 | |||||||||||||
Granted | 2,192,672 | $ | 40.9 | |||||||||||||
Forfeited | (148,111 | ) | $ | 30.17 | ||||||||||||
Exercised | (284,967 | ) | $ | 21.12 | ||||||||||||
Outstanding at September 30, 2014 | 5,928,352 | $ | 30.77 | 5 | $ | 69.8 | ||||||||||
Exercisable at September 30, 2014 | 2,333,076 | $ | 20.71 | 3.4 | $ | 50.9 | ||||||||||
Stock Appreciation Rights (SARs) [Member] | Class C Ordinary Shares [Member] | ' | |||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||||||||||||||
Schedule of stock option 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, 2014 | 12,437,530 | $ | 23.87 | |||||||||||||
Granted | 4,408,368 | $ | 39.07 | |||||||||||||
Forfeited | (435,969 | ) | $ | 29.27 | ||||||||||||
Exercised | (834,407 | ) | $ | 20.84 | ||||||||||||
Outstanding at September 30, 2014 | 15,575,522 | $ | 28.18 | 4.8 | $ | 199.9 | ||||||||||
Exercisable at September 30, 2014 | 6,950,992 | $ | 20.04 | 3.4 | $ | 145.8 | ||||||||||
Performance Stock Appreciation Rights (PSARs) [Member] | Class A Ordinary Shares [Member] | ' | |||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||||||||||||||
Schedule of stock option 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, 2014 | 2,817,498 | $ | 35.07 | |||||||||||||
Granted | 10,000 | $ | 43.58 | |||||||||||||
Forfeited | (10,209 | ) | $ | 35.03 | ||||||||||||
Exercised | (6,248 | ) | $ | 35.03 | ||||||||||||
Outstanding at September 30, 2014 | 2,811,041 | $ | 35.1 | 5.7 | $ | 20.9 | ||||||||||
Exercisable at September 30, 2014 | 7,291 | $ | 35.03 | 2 | $ | 0.1 | ||||||||||
Performance Stock Appreciation Rights (PSARs) [Member] | Class C Ordinary Shares [Member] | ' | |||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||||||||||||||
Schedule of stock option 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, 2014 | 8,452,494 | $ | 33.44 | |||||||||||||
Granted | 30,000 | $ | 43.03 | |||||||||||||
Forfeited | (30,626 | ) | $ | 33.41 | ||||||||||||
Exercised | (18,744 | ) | $ | 33.41 | ||||||||||||
Outstanding at September 30, 2014 | 8,433,124 | $ | 33.48 | 5.7 | $ | 63.6 | ||||||||||
Exercisable at September 30, 2014 | 21,874 | $ | 33.86 | 2 | $ | 0.2 | ||||||||||
Restricted Stock Units (RSUs) [Member] | Class A Ordinary Shares [Member] | ' | |||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||||||||||||||
Schedule of other share based compensation activity | ' | |||||||||||||||
RSUs — 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, 2014 | 725,676 | $ | 35.48 | |||||||||||||
Granted | 207,408 | $ | 40.98 | |||||||||||||
Forfeited | (39,038 | ) | $ | 32.53 | ||||||||||||
Released from restrictions | (269,816 | ) | $ | 34.66 | ||||||||||||
Outstanding at September 30, 2014 | 624,230 | $ | 37.72 | 4.8 | ||||||||||||
Restricted Stock Units (RSUs) [Member] | Class C Ordinary Shares [Member] | ' | |||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||||||||||||||
Schedule of other share based compensation activity | ' | |||||||||||||||
RSUs — 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, 2014 | 1,944,468 | $ | 32.79 | |||||||||||||
Granted | 414,816 | $ | 39.17 | |||||||||||||
Forfeited | (110,193 | ) | $ | 30.31 | ||||||||||||
Released from restrictions | (721,392 | ) | $ | 31.96 | ||||||||||||
Outstanding at September 30, 2014 | 1,527,699 | $ | 34.98 | 4.7 | ||||||||||||
PSUs / PGUs [Member] | Class A Ordinary Shares [Member] | ' | |||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||||||||||||||
Schedule of other share based compensation activity | ' | |||||||||||||||
PSUs and PGUs — 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, 2014 | 924,648 | $ | 32.05 | |||||||||||||
Granted | 1,518,276 | $ | 42.74 | |||||||||||||
Performance adjustment (a) | (138,668 | ) | $ | 26.17 | ||||||||||||
Forfeited | (21,564 | ) | $ | 32.89 | ||||||||||||
Released from restrictions | (273,570 | ) | $ | 26.23 | ||||||||||||
Outstanding at September 30, 2014 | 2,009,122 | $ | 41.32 | 2 | ||||||||||||
PSUs / PGUs [Member] | Class B Ordinary Shares [Member] | ' | |||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||||||||||||||
Schedule of other share based compensation activity | ' | |||||||||||||||
PGUs — Class B ordinary shares | Number of | Weighted | Weighted | |||||||||||||
shares | average | average | ||||||||||||||
grant-date | remaining | |||||||||||||||
fair value | contractual | |||||||||||||||
per share | term | |||||||||||||||
in years | ||||||||||||||||
Outstanding at January 1, 2014 | — | $ | — | |||||||||||||
Granted | 1,000,000 | $ | 44.55 | |||||||||||||
Outstanding at September 30, 2014 | 1,000,000 | $ | 44.55 | 2.5 | ||||||||||||
PSUs / PGUs [Member] | Class C Ordinary Shares [Member] | ' | |||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||||||||||||||
Schedule of other share based compensation 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, 2014 | 2,744,452 | $ | 29.99 | |||||||||||||
Granted | 1,048,614 | $ | 39.83 | |||||||||||||
Performance adjustment (a) | (416,004 | ) | $ | 24.73 | ||||||||||||
Forfeited | (64,692 | ) | $ | 30.77 | ||||||||||||
Released from restrictions | (820,710 | ) | $ | 24.78 | ||||||||||||
Outstanding at September 30, 2014 | 2,491,660 | $ | 36.7 | 1.5 | ||||||||||||
_______________ | ||||||||||||||||
(a) | Represents the reduction in PSUs associated with the first quarter 2014 determination that 66.3% of the PSUs that were granted in 2012 (the 2012 PSUs) had been earned. As of September 30, 2014, all of the earned 2012 PSUs have been released from restrictions. |
Restructuring_Liability_Tables
Restructuring Liability (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||||||
Summary of changes in restructuring liability | ' | ||||||||||||||||
A summary of the changes in our restructuring liability during the nine months ended September 30, 2014 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, 2014 | $ | 26.6 | $ | 14.9 | $ | 72 | $ | 113.5 | |||||||||
Restructuring charges | 34.5 | 9.3 | 93.6 | 137.4 | |||||||||||||
Cash paid | (44.9 | ) | (10.2 | ) | (28.5 | ) | (83.6 | ) | |||||||||
Foreign currency translation adjustments and other | 0.6 | (0.5 | ) | (15.0 | ) | (14.9 | ) | ||||||||||
Restructuring liability as of September 30, 2014 | $ | 16.8 | $ | 13.5 | $ | 122.1 | $ | 152.4 | |||||||||
Current portion | $ | 16.7 | $ | 12.1 | $ | 20.8 | $ | 49.6 | |||||||||
Noncurrent portion | 0.1 | 1.4 | 101.3 | 102.8 | |||||||||||||
Total | $ | 16.8 | $ | 13.5 | $ | 122.1 | $ | 152.4 | |||||||||
Earnings_or_Loss_per_Ordinary_1
Earnings or Loss per Ordinary Share (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Schedule of calculations of our basic and diluted earnings per share (EPS) | ' | |||||||||||||||
The details of the calculations of our basic and diluted earnings per share (EPS) are set forth in the following table: | ||||||||||||||||
Three months ended | Nine months ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
in millions, except share amounts | ||||||||||||||||
Numerator: | ||||||||||||||||
Net earnings (loss) attributable to Liberty Global shareholders (basic and diluted EPS computation) | $ | 157.1 | $ | (830.1 | ) | $ | (171.6 | ) | $ | (842.7 | ) | |||||
Denominator: | ||||||||||||||||
Weighted average common shares (basic EPS computation) | 779,708,147 | 796,152,814 | 784,112,867 | 632,698,780 | ||||||||||||
Incremental shares attributable to the assumed exercise of outstanding options and SARs and the release of share units upon vesting (treasury stock method) | 10,378,194 | — | — | — | ||||||||||||
Weighted average common shares (diluted EPS computation) | 790,086,341 | 796,152,814 | 784,112,867 | 632,698,780 | ||||||||||||
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, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
in millions | ||||||||||||||||
Amounts attributable to Liberty Global shareholders: | ||||||||||||||||
Earnings (loss) from continuing operations | $ | 157.1 | $ | (818.5 | ) | $ | (505.1 | ) | $ | (828.4 | ) | |||||
Earnings (loss) from discontinued operation | — | (11.6 | ) | 333.5 | (14.3 | ) | ||||||||||
Net earnings (loss) attributable to Liberty Global shareholders | $ | 157.1 | $ | (830.1 | ) | $ | (171.6 | ) | $ | (842.7 | ) | |||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||||||||||||||||||||||||||
Unrecorded Purchase Obligation | ' | |||||||||||||||||||||||||||||||
The U.S. dollar equivalents of such commitments as of September 30, 2014 are presented below: | ||||||||||||||||||||||||||||||||
Payments due during: | ||||||||||||||||||||||||||||||||
Remainder | ||||||||||||||||||||||||||||||||
of 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||||||||||
Programming commitments | $ | 245.6 | $ | 809.4 | $ | 724 | $ | 570.4 | $ | 488.8 | $ | 231.1 | $ | — | $ | 3,069.30 | ||||||||||||||||
Network and connectivity commitments | 100.3 | 334 | 271.8 | 247.4 | 129.8 | 93 | 1,093.60 | 2,269.90 | ||||||||||||||||||||||||
Purchase commitments | 514.6 | 278 | 94.8 | 44.4 | 10.8 | 4.5 | — | 947.1 | ||||||||||||||||||||||||
Operating leases | 46.2 | 156.2 | 128.2 | 104.7 | 71.2 | 54.2 | 249.7 | 810.4 | ||||||||||||||||||||||||
Other commitments | 133.1 | 318.9 | 194.8 | 142.6 | 89.3 | 35.5 | 35 | 949.2 | ||||||||||||||||||||||||
Total (a) | $ | 1,039.80 | $ | 1,896.50 | $ | 1,413.60 | $ | 1,109.50 | $ | 789.9 | $ | 418.3 | $ | 1,378.30 | $ | 8,045.90 | ||||||||||||||||
_______________ | ||||||||||||||||||||||||||||||||
(a) | The commitments reflected in this table do not reflect any liabilities that are included in our September 30, 2014 condensed consolidated balance sheet. |
Segment_Reporting_Tables
Segment Reporting (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Segment Reporting, Measurement Disclosures [Abstract] | ' | |||||||||||||||
Revenue and Operating Cash Flow by Segment | ' | |||||||||||||||
Revenue | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
in millions | ||||||||||||||||
European Operations Division: | ||||||||||||||||
U.K. (Virgin Media) (a) | $ | 1,747.00 | $ | 1,587.40 | $ | 5,249.50 | $ | 1,988.70 | ||||||||
Germany (Unitymedia KabelBW) | 671.7 | 641.3 | 2,056.40 | 1,884.10 | ||||||||||||
Belgium (Telenet) | 575.7 | 545.6 | 1,732.30 | 1,616.20 | ||||||||||||
The Netherlands | 301.6 | 305.4 | 936 | 923.4 | ||||||||||||
Switzerland | 353.2 | 332.1 | 1,071.30 | 982 | ||||||||||||
Other Western Europe | 223.8 | 223.5 | 687.9 | 665.7 | ||||||||||||
Total Western Europe | 3,873.00 | 3,635.30 | 11,733.40 | 8,060.10 | ||||||||||||
Central and Eastern Europe | 279.8 | 279.1 | 859.7 | 848.4 | ||||||||||||
Central and other | 34.7 | 33.4 | 101.2 | 96.7 | ||||||||||||
Total European Operations Division | 4,187.50 | 3,947.80 | 12,694.30 | 9,005.20 | ||||||||||||
Chile (VTR) | 223.7 | 244.8 | 678.8 | 747.9 | ||||||||||||
Corporate and other | 95.3 | 93.4 | 282.6 | 280.9 | ||||||||||||
Intersegment eliminations (b) | (9.3 | ) | (9.5 | ) | (22.6 | ) | (27.8 | ) | ||||||||
Total | $ | 4,497.20 | $ | 4,276.50 | $ | 13,633.10 | $ | 10,006.20 | ||||||||
______________ | ||||||||||||||||
(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) | Amounts are primarily related to transactions between our European Operations Division and our continuing programming operations. | |||||||||||||||
Operating cash flow | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
in millions | ||||||||||||||||
European Operations Division: | ||||||||||||||||
U.K. (Virgin Media) (a) | $ | 755.9 | $ | 663 | $ | 2,264.80 | $ | 838.3 | ||||||||
Germany (Unitymedia KabelBW) | 417.5 | 391.2 | 1,277.50 | 1,120.60 | ||||||||||||
Belgium (Telenet) | 287.9 | 275.4 | 877.9 | 792.1 | ||||||||||||
The Netherlands | 175.1 | 176.3 | 543.5 | 532.2 | ||||||||||||
Switzerland | 213.3 | 200.8 | 639.3 | 572.2 | ||||||||||||
Other Western Europe | 115.4 | 113.8 | 343.4 | 324.2 | ||||||||||||
Total Western Europe | 1,965.10 | 1,820.50 | 5,946.40 | 4,179.60 | ||||||||||||
Central and Eastern Europe | 135 | 131.9 | 418.9 | 407.6 | ||||||||||||
Central and other | (63.0 | ) | (44.5 | ) | (184.3 | ) | (144.5 | ) | ||||||||
Total European Operations Division | 2,037.10 | 1,907.90 | 6,181.00 | 4,442.70 | ||||||||||||
Chile (VTR) | 86.6 | 84.5 | 255.1 | 256.5 | ||||||||||||
Corporate and other | (13.1 | ) | (15.2 | ) | (57.1 | ) | (44.6 | ) | ||||||||
Intersegment eliminations (b) | — | 11.4 | 4 | 34.1 | ||||||||||||
Total | $ | 2,110.60 | $ | 1,988.60 | $ | 6,383.00 | $ | 4,688.70 | ||||||||
______________ | ||||||||||||||||
(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. | |||||||||||||||
(b) | Amounts are related to transactions between our European Operations Division and the Chellomedia Disposal Group, which eliminations are no longer recorded following the completion of the Chellomedia Transaction on January 31, 2014. | |||||||||||||||
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, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
in millions | ||||||||||||||||
Total segment operating cash flow from continuing operations | $ | 2,110.60 | $ | 1,988.60 | $ | 6,383.00 | $ | 4,688.70 | ||||||||
Share-based compensation expense | (73.1 | ) | (98.2 | ) | (182.6 | ) | (217.9 | ) | ||||||||
Depreciation and amortization | (1,313.5 | ) | (1,381.3 | ) | (4,084.0 | ) | (2,921.7 | ) | ||||||||
Release of litigation provision | — | 146 | — | 146 | ||||||||||||
Impairment, restructuring and other operating items, net | (20.3 | ) | (133.9 | ) | (161.5 | ) | (200.6 | ) | ||||||||
Operating income | 703.7 | 521.2 | 1,954.90 | 1,494.50 | ||||||||||||
Interest expense | (617.3 | ) | (630.0 | ) | (1,912.6 | ) | (1,643.9 | ) | ||||||||
Interest and dividend income | 13.2 | 62 | 29.2 | 110.7 | ||||||||||||
Realized and unrealized gains (losses) on derivative instruments, net | 527.9 | (875.4 | ) | (177.3 | ) | (683.3 | ) | |||||||||
Foreign currency transaction gains (losses), net | (375.8 | ) | 258 | (433.0 | ) | 213 | ||||||||||
Realized and unrealized gains due to changes in fair values of certain investments, net | 92.2 | 80.8 | 189.4 | 345.4 | ||||||||||||
Losses on debt modification and extinguishment, net | (9.6 | ) | (0.7 | ) | (83.5 | ) | (170.7 | ) | ||||||||
Other expense, net | (13.0 | ) | (3.5 | ) | (17.4 | ) | (6.7 | ) | ||||||||
Earnings (loss) from continuing operations before income taxes | $ | 321.3 | $ | (587.6 | ) | $ | (450.3 | ) | $ | (341.0 | ) | |||||
Revenue by Major Category | ' | |||||||||||||||
Our revenue by major category is set forth below: | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
in millions | ||||||||||||||||
Subscription revenue (a): | ||||||||||||||||
Video | $ | 1,600.60 | $ | 1,599.60 | $ | 4,903.30 | $ | 4,087.10 | ||||||||
Broadband internet | 1,172.00 | 1,023.70 | 3,502.10 | 2,448.20 | ||||||||||||
Fixed-line telephony | 795.1 | 768.5 | 2,447.90 | 1,696.60 | ||||||||||||
Cable subscription revenue | 3,567.70 | 3,391.80 | 10,853.30 | 8,231.90 | ||||||||||||
Mobile subscription revenue (b) | 281.6 | 244.7 | 812 | 417.2 | ||||||||||||
Total subscription revenue | 3,849.30 | 3,636.50 | 11,665.30 | 8,649.10 | ||||||||||||
B2B revenue (c) | 379.8 | 343.7 | 1,129.80 | 629.9 | ||||||||||||
Other revenue (b) (d) | 268.1 | 296.3 | 838 | 727.2 | ||||||||||||
Total revenue | $ | 4,497.20 | $ | 4,276.50 | $ | 13,633.10 | $ | 10,006.20 | ||||||||
_______________ | ||||||||||||||||
(a) | Subscription revenue includes amounts received from subscribers for ongoing services, excluding installation fees and late fees. 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. As a result, changes in the standalone pricing of our cable and mobile products or the composition of bundles can contribute to changes in our product revenue categories from period to period. | |||||||||||||||
(b) | Mobile subscription revenue excludes mobile interconnect revenue of $60.4 million and $56.3 million during the three months ended September 30, 2014 and 2013, respectively, and $184.2 million and $113.0 million during the nine months ended September 30, 2014 and 2013, respectively. Mobile interconnect revenue and revenue from mobile handset sales are included in other revenue. | |||||||||||||||
(c) | B2B revenue includes revenue from business broadband internet, video, voice, wireless and data services offered to medium to large enterprises and, on a wholesale basis, to other operators. We also provide services to certain small office and home office (SOHO) subscribers. SOHO subscribers pay a premium price to receive enhanced service levels along with video, broadband internet, fixed-line telephony or mobile services that are the same or similar to the mass marketed products offered to our residential subscribers. Revenue from SOHO subscribers, which aggregated $50.3 million and $37.9 million during the three months ended September 30, 2014 and 2013, respectively, and $146.5 million and $106.0 million during the nine months ended September 30, 2014 and 2013, respectively, is included in cable subscription revenue. | |||||||||||||||
(d) | Other revenue includes, among other items, interconnect, carriage fee and installation revenue. | |||||||||||||||
Geographic Segments | ' | |||||||||||||||
The revenue of our geographic segments is set forth below: | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
in millions | ||||||||||||||||
European Operations Division: | ||||||||||||||||
U.K. (a) | $ | 1,747.00 | $ | 1,587.40 | $ | 5,249.50 | $ | 1,988.70 | ||||||||
Germany | 671.7 | 641.3 | 2,056.40 | 1,884.10 | ||||||||||||
Belgium | 575.7 | 545.6 | 1,732.30 | 1,616.20 | ||||||||||||
Switzerland | 353.2 | 332.1 | 1,071.30 | 982 | ||||||||||||
The Netherlands | 301.6 | 305.4 | 936 | 923.4 | ||||||||||||
Poland | 116.9 | 110.9 | 358.6 | 340.6 | ||||||||||||
Ireland | 116.4 | 115.2 | 358.1 | 341.9 | ||||||||||||
Austria | 107.4 | 108.3 | 329.8 | 323.8 | ||||||||||||
Hungary | 62.2 | 63.7 | 191.6 | 190.9 | ||||||||||||
The Czech Republic | 47.4 | 54 | 149.4 | 166.1 | ||||||||||||
Romania | 37.7 | 34.7 | 111.9 | 103.6 | ||||||||||||
Slovakia | 15.6 | 15.8 | 48.2 | 47.2 | ||||||||||||
Other (b) | 34.7 | 33.4 | 101.2 | 96.7 | ||||||||||||
Total European Operations Division | 4,187.50 | 3,947.80 | 12,694.30 | 9,005.20 | ||||||||||||
Chile | 223.7 | 244.8 | 678.8 | 747.9 | ||||||||||||
Puerto Rico | 76.3 | 74.7 | 227.6 | 221.9 | ||||||||||||
Other, including intersegment eliminations | 9.7 | 9.2 | 32.4 | 31.2 | ||||||||||||
Total | $ | 4,497.20 | $ | 4,276.50 | $ | 13,633.10 | $ | 10,006.20 | ||||||||
_______________ | ||||||||||||||||
(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 the Czech Republic, Hungary, Romania and Slovakia. |
Subsequent_Events_Tables
Subsequent Events (Tables) | 9 Months Ended | ||||
Sep. 30, 2014 | |||||
Subsequent Events [Abstract] | ' | ||||
Debt Instrument Redemption | ' | ||||
Unitymedia KabelBW may redeem some or all of the 2025 UM 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 indenture), if any, to the redemption date, if redeemed during the twelve-month period commencing on January 15 of the years set forth below: | |||||
Year | Redemption price | ||||
2020 | 103.06% | ||||
2021 | 102.04% | ||||
2022 | 101.02% | ||||
2023 and thereafter | 100.00% | ||||
Virgin Media Finance may redeem some or all of the 2024 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 redemption date, if redeemed during the twelve-month period commencing on October 15 of the years set forth below: | |||||
Redemption price | |||||
Year | 2024 VM Sterling Senior Notes | 2024 VM Dollar Senior Notes | |||
2019 | 103.19% | 103.00% | |||
2020 | 102.13% | 102.00% | |||
2021 | 101.06% | 101.00% | |||
2022 and thereafter | 100.00% | 100.00% |
Basis_of_Presentation_Narrativ
Basis of Presentation (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2014 | |
Basis of Presentation [Line Items] | ' |
Number of countries in which entity provides services (in countries) | 14 |
Puerto Rico | ' |
Basis of Presentation [Line Items] | ' |
Percentage ownership in subsidiary | 60.00% |
Video, Broadband Internet and FIxed-Line Telephony [Member] | Europe [Member] | ' |
Basis of Presentation [Line Items] | ' |
Number of countries in which entity provides services (in countries) | 9 |
Mobile Services [Member] | Europe [Member] | ' |
Basis of Presentation [Line Items] | ' |
Number of countries in which entity provides services (in countries) | 4 |
Telenet [Member] | ' |
Basis of Presentation [Line Items] | ' |
Percentage ownership in subsidiary | 57.00% |
Acquisitions_and_Discontinued_2
Acquisitions and Discontinued Operation (Narrative) (Details) | 3 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 0 Months Ended | ||||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Apr. 30, 2014 | Mar. 31, 2014 | Sep. 30, 2014 | Jan. 31, 2014 | Jan. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Jan. 27, 2014 | Jan. 27, 2014 | Jan. 27, 2014 | Jan. 27, 2014 | Jun. 07, 2013 | Nov. 04, 2014 | Oct. 10, 2014 | Oct. 10, 2014 | |
USD ($) | USD ($) | USD ($) | USD ($) | Domestic Tax Authority [Member] | Domestic Tax Authority [Member] | Domestic Tax Authority [Member] | Chellomedia [Member] | Chellomedia [Member] | Chellomedia [Member] | Chellomedia [Member] | Ziggo Merger Agreement [Member] | Ziggo Merger Agreement [Member] | Ziggo Merger Agreement [Member] | Ziggo Merger Agreement [Member] | Virgin Media Acquisition [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |
USD ($) | EUR (€) | USD ($) | Accumulated Translation Adjustment [Member] | USD ($) | EUR (€) | Class A Ordinary Shares [Member] | Class C Ordinary Shares [Member] | USD ($) | Ziggo Merger Agreement [Member] | Film1 [Member] | Netherlands Network [Member] | ||||||||
USD ($) | USD ($) | USD ($) | Ziggo Merger Agreement [Member] | Ziggo Merger Agreement [Member] | |||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of voting interests acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67.20% | ' | ' |
Percentage of voting interests owned | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 87.90% | ' | ' |
Consideration Transferred, Equity Interests Issued and Issuable Per Share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.23 | ' | ' | ' | ' | ' |
Consideration Transferred, Conditional Equity Interests Issued and Issuable Per Share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.56 | ' | ' | ' | ' |
Consideration Transferred, Conditional Equity Interests Issued and Issuable Cash Per Share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $13.89 | € 11 | ' | ' | ' | ' | ' | ' |
Commitment Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '8 years |
Consideration transferred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $14,100,000,000 | ' | ' | ' |
Proceeds from disposal group | ' | ' | ' | ' | ' | ' | ' | 1,013,100,000 | 750,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax rate | ' | ' | ' | ' | 21.00% | 23.00% | 21.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pre-tax gain on disposition | ' | ' | ' | ' | ' | ' | ' | ' | ' | 342,200,000 | 64,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred income tax expense (benefit) | ' | ' | -243,200,000 | 172,500,000 | ' | ' | ' | ' | ' | 9,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on disposal of discontinued operation, net of taxes | $0 | $0 | $332,700,000 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions_and_Discontinued_3
Acquisitions and Discontinued Operation (Pro Forma Information) (Details) (USD $) | 3 Months Ended | 9 Months Ended | |
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Business Acquisition [Line Items] | ' | ' | ' |
Revenue | $94.70 | $26.60 | $294.60 |
Virgin Media Acquisition [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Revenue | ' | ' | 13,065.70 |
Net loss attributable to Liberty Global shareholders | ' | ' | -1,178.50 |
Basic and diluted loss attributable to Liberty Global shareholders per share | ' | ' | ($1.48) |
Continuing Operations [Member] | Virgin Media Acquisition [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Revenue | ' | ' | $12,771.10 |
Acquisitions_and_Discontinued_4
Acquisitions and Discontinued Operation (Disposal Group) (Details) (USD $) | 3 Months Ended | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Revenue | $94.70 | $26.60 | $294.60 |
Chellomedia [Member] | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Operating income (loss) | 0.7 | 0.6 | -2 |
Earnings (loss) before income taxes and noncontrolling interests | -5.2 | 0.9 | -4.8 |
Income tax expense | -5.6 | -0.1 | -8.4 |
Earnings (loss) from discontinued operation attributable to Liberty Global shareholders, net of taxes | ($11.60) | $0.80 | ($14.30) |
Investments_Schedule_of_Invest
Investments (Schedule of Investments by Accounting Method) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, except Share data, unless otherwise specified | ||
Investment [Line Items] | ' | ' |
Fair value | $4,364.30 | $3,481.80 |
Equity | 165 | 8.9 |
Cost | 0.4 | 0.5 |
Total | 4,529.70 | 3,491.20 |
Ziggo N.V. [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Fair value | 2,670 | 2,609.50 |
Number of common stock shares owned (in shares) | 57,000,738 | ' |
Ziggo N.V. [Member] | Securities Not Subject to Re-Use Rights [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Fair value | 1,825.40 | 1,560.10 |
Number of common stock shares owned (in shares) | 39,000,000 | 34,100,000 |
Ziggo N.V. [Member] | Securities Subject to Re-Use Rights [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Fair value | 844.6 | 1,049.40 |
Number of common stock shares owned (in shares) | 18,000,000 | 22,900,000 |
ITV - Subject to Re-Use Rights [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Fair value | 875.7 | 0 |
Sumitomo [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Fair value | 503.9 | 572.9 |
Number of common stock shares owned (in shares) | 45,652,043 | ' |
Cyfra, Privately Held DTH Operator in Poland [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Fair value | $314.70 | $299.40 |
Investments_Narrative_Details
Investments (Narrative) (Details) | 1 Months Ended | 1 Months Ended | |||||||||||||||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Oct. 10, 2014 | Jul. 17, 2014 | Jul. 17, 2014 | Jun. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 |
All3Media [Member] | All3Media [Member] | DLG [Member] | Ziggo N.V. [Member] | Ziggo N.V. [Member] | Ziggo N.V. [Member] | Ziggo N.V. [Member] | Ziggo N.V. [Member] | Ziggo N.V. [Member] | ITV [Member] | ITV [Member] | ITV [Member] | Sumitomo [Member] | Cyfra, Privately Held DTH Operator in Poland [Member] | DLG Acquisition Limited [Member] | All3Media [Member] | All3Media [Member] | |
USD ($) | EUR (€) | All3Media [Member] | Ziggo Collar [Member] | Securities Subject to Re-Use Rights [Member] | Securities Subject to Re-Use Rights [Member] | Shares Borrowed as Hedge [Member] | Subsequent Event [Member] | USD ($) | GBP (£) | Discovery [Member] | Discovery [Member] | ||||||
Ziggo Collar [Member] | USD ($) | GBP (£) | |||||||||||||||
Investment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of common stock shares owned (in shares) | ' | ' | ' | 57,000,738 | 19,965,600 | 18,000,000 | 22,900,000 | 15,600,000 | ' | 259,820,065 | 259,820,065 | ' | 45,652,043 | ' | ' | ' | ' |
Shares lent to counterparty (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 15,700,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of total outstanding common stock shares owned | ' | ' | ' | 28.50% | ' | ' | ' | ' | ' | ' | ' | 6.40% | 5.00% | ' | 50.00% | ' | ' |
Price of investment (in GBP/USD per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.14 | £ 1.85 | ' | ' | ' | ' | ' | ' |
Investment owned | ' | ' | ' | ' | ' | ' | ' | ' | ' | $816.30 | £ 480.7 | ' | ' | ' | ' | ' | ' |
Percentage of voting interests acquired | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17.00% | ' | ' | ' |
Cash contributions | $147.20 | € 90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $147.20 | £ 90 |
Derivative_Instruments_Narrati
Derivative Instruments (Narrative) (Details) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Jul. 30, 2014 | Jul. 30, 2014 |
USD ($) | USD ($) | Cross-currency and interest rate derivative contracts | Cross-currency and interest rate derivative contracts | Cross-currency and interest rate derivative contracts | Cross-currency and interest rate derivative contracts | Cross-currency and interest rate derivative contracts | Counterparty Credit Risk [Member] | ITV Collar [Member] | ITV Collar [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | GBP (£) | |||
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of common stock shares owned (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 259,820,065 | 259,820,065 |
Valuation adjustment in asset cross currency and interest rate derivative contracts | ' | ' | $25,200,000 | ' | $25,200,000 | ' | $9,800,000 | ' | ' | ' |
Valuation adjustment in liability cross currency and interest rate derivative contracts | ' | ' | 102,200,000 | ' | 102,200,000 | ' | 173,000,000 | ' | ' | ' |
Gain (loss) in changes in the credit risk valuation adjustments associated with our cross-currency and interest rate derivative contracts | ' | ' | -31,200,000 | 85,100,000 | -80,100,000 | 39,600,000 | ' | ' | ' | ' |
Derivative assets | 1,528,200,000 | 1,204,200,000 | 1,067,800,000 | ' | 1,067,800,000 | ' | 769,200,000 | 780,900,000 | ' | ' |
Principal amount of debt | ' | ' | ' | ' | ' | ' | ' | ' | $764,500,000 | £ 446,900,000 |
Derivative Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 0.00% |
Implied yield | ' | ' | ' | ' | ' | ' | ' | ' | 1.73% | 1.73% |
Shares needed to borrow from custody account to hedge exposure | ' | ' | ' | ' | ' | ' | ' | ' | 205,000,000 | 205,000,000 |
Derivative_Instruments_Fair_Va
Derivative Instruments (Fair Values of Derivative Assets and Liabilities) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Assets: | ' | ' |
Current | $458.10 | $252.10 |
Long-term | 1,070.10 | 952.1 |
Total | 1,528.20 | 1,204.20 |
Liabilities: | ' | ' |
Current | 1,196.20 | 751.2 |
Long-term | 1,617.90 | 2,305.30 |
Total | 2,814.10 | 3,056.50 |
Cross-currency and interest rate derivative contracts | ' | ' |
Assets: | ' | ' |
Current | 451.7 | 248.4 |
Long-term | 616.1 | 520.8 |
Total | 1,067.80 | 769.2 |
Liabilities: | ' | ' |
Current | 1,035 | 727.2 |
Long-term | 1,556.90 | 2,191.40 |
Total | 2,591.90 | 2,918.60 |
Equity Contract [Member] | ' | ' |
Assets: | ' | ' |
Current | 0 | 0 |
Long-term | 453.3 | 430.4 |
Total | 453.3 | 430.4 |
Liabilities: | ' | ' |
Current | 160.1 | 15.6 |
Long-term | 60.8 | 101.3 |
Total | 220.9 | 116.9 |
Foreign Exchange Forward [Member] | ' | ' |
Assets: | ' | ' |
Current | 5.8 | 2.6 |
Long-term | 0 | 0 |
Total | 5.8 | 2.6 |
Liabilities: | ' | ' |
Current | 0.9 | 8.2 |
Long-term | 0 | 12 |
Total | 0.9 | 20.2 |
Other | ' | ' |
Assets: | ' | ' |
Current | 0.6 | 1.1 |
Long-term | 0.7 | 0.9 |
Total | 1.3 | 2 |
Liabilities: | ' | ' |
Current | 0.2 | 0.2 |
Long-term | 0.2 | 0.6 |
Total | $0.40 | $0.80 |
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, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Derivative [Line Items] | ' | ' | ' | ' |
Gain (loss) on derivative instruments, net | $527.90 | ($875.40) | ($177.30) | ($683.30) |
Cross-currency and interest rate derivative contracts | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain (loss) on derivative instruments, net | 611.3 | -727.2 | -94.6 | -384.2 |
Foreign Exchange Contract [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain (loss) on derivative instruments, net | 21.5 | -55.3 | 41.9 | -56.4 |
Equity Contract [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain (loss) on derivative instruments, net | -104 | -94.2 | -124.3 | -243.8 |
Other | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain (loss) on derivative instruments, net | -0.9 | 1.3 | -0.3 | 1.1 |
Ziggo Collar [Member] | Equity Contract [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain (loss) on derivative instruments, net | -68.1 | -65.7 | -74 | -65.7 |
ITV Collar [Member] | Equity Contract [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain (loss) on derivative instruments, net | -65.2 | 0 | -65.2 | 0 |
Sumitomo Collar [Member] | Equity Contract [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain (loss) on derivative instruments, net | 29 | -34.3 | 13.7 | -174.3 |
Virgin Media Capped Call [Member] | Equity Contract [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain (loss) on derivative instruments, net | $0.30 | $5.80 | $1.20 | ($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, 2014 | Sep. 30, 2013 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ' |
Operating activities | ($415.50) | ($393.40) |
Investing activities | -16.6 | -66.6 |
Financing activities | -146.7 | 537 |
Total | ($578.80) | $77 |
Derivative_Instruments_Crosscu
Derivative Instruments (Cross-currency Swaps) (Schedule) (Details) (Cross-currency and interest rate derivative contracts) | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 |
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 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] | 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] |
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] | January 2021 500.0 USD 308.9 GBP [Member] | January 2022 425.0 USD 255.8 GBP [Member] | October 2014 330.0 USD 199.4 GBP [Member] | October 2014 - October 2022 330.0 USD 199.4 GBP [Member] | April 2019 291.5 USD 186.2 GBP [Member} | October 2019 170.0 USD 102.9 GBP [Member] | November 2016 55.0 USD 27.7 GBP [Member] | October 2019 - October 2022 50.0 USD 30.7 GBP [Member] | July 2018 525.0 USD 396.3 EUR [Member] | December 2014 340.0 USD 244.6 EUR [Member] | January 2020 327.5 USD 249.5 EUR [Member] | January 2015 - July 2021 312.0 USD 240.0 EUR [Member] | January 2015 300.0 USD 226.5 EUR [Member] | October 2020 300.0 USD 219.1 EUR [Member] | January 2017 - July 2021 262.1 USD 194.1 EUR [Member] | November 2019 250.0 USD 181.5 EUR [Member] | November 2021 250.0 USD 181.4 EUR [Member] | December 2014 to July 2018 200.0 USD 151.0 EUR [Member] | January 2020 197.5 USD 150.5 EUR [Member] | July 2021 128.0 USD 97.2 EUR [Member] | January 2015 - July 2018 100.0 USD 75.4 EUR [Member] | January 2015 - July 2021 405.9 USD 373.1 CHF [Member] | December 2016 340.0 USD [Member] | January 2017 - July 2021 300.0 USD 278.3 CHF [Member] | November 2019 250Usd 226.8Chf [Member] | January 2020 225.0 USD 206.3 CHF [Member] | January 2015 171.5 USD [Member] | December 2014 340Usd 181322Clp [Member] | July 2020 201.5 USD 489.3 RON [Member] | January 2015 898.4 EUR 1466.0 CHF [Member] | January 2015 - January 2021 720.8 EUR 877.0 CHF [Member] | January 2015 - September 2022 383.8 EUR 477.0 CHF [Member] | January 2015 - January 2017 360.4 EUR 589.0 CHF [Member] | April 2018 285.1 EUR 346.7 CHF [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] | December 2014 134.2 USD 107800.0 CLP [Member] | December 2015 69.1 EUR 53,000.0 CLP [Member] | January 2015 365.8 EUR 10521.8 CZK [Member] | January 2015 - January 2020 318.9 EUR 8818.7 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 400.5 EUR 1605.6 PLN [Member] | January 2015 - January 2017 245.0 EUR 1000.6 PLN [Member] | September 2016 200.0 EUR 892.7 PLN [Member] | January 2015 - January 2020 144.6 EUR 605.0 PLN [Member] | July 2017 82Euro 318Pln [Member] | December 2014 181,322.0 CLP 340.0 USD [Member] | December 2014 107,800.0 CLP 134.2 EUR [Member] [Member] | December 2015 53,000.0 CLP 69.1 EUR [Member] | January 2021 1000.0 USD 688.2 EUR [Member] | March 2019 459.3 USD 326.5 EUR [Member] | January 2023 202.9 USD 141.7 EUR [Member] | January 2022 1,400.0 USD 760,340.0 CLP [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] | January 2021 500.0 USD 308.9 GBP [Member] | January 2022 425.0 USD 255.8 GBP [Member] | October 2014 330.0 USD 199.4 GBP [Member] | October 2014 - October 2022 330.0 USD 199.4 GBP [Member] | April 2019 291.5 USD 186.2 GBP [Member} | October 2019 170.0 USD 102.9 GBP [Member] | November 2016 55.0 USD 27.7 GBP [Member] | October 2019 - October 2022 50.0 USD 30.7 GBP [Member] | July 2018 525.0 USD 396.3 EUR [Member] | December 2014 340.0 USD 244.6 EUR [Member] | January 2020 327.5 USD 249.5 EUR [Member] | January 2015 - July 2021 312.0 USD 240.0 EUR [Member] | January 2015 300.0 USD 226.5 EUR [Member] | October 2020 300.0 USD 219.1 EUR [Member] | January 2017 - July 2021 262.1 USD 194.1 EUR [Member] | November 2019 250.0 USD 181.5 EUR [Member] | November 2021 250.0 USD 181.4 EUR [Member] | December 2014 to July 2018 200.0 USD 151.0 EUR [Member] | January 2020 197.5 USD 150.5 EUR [Member] | July 2021 128.0 USD 97.2 EUR [Member] | January 2015 - July 2018 100.0 USD 75.4 EUR [Member] | January 2015 - July 2021 405.9 USD 373.1 CHF [Member] | December 2016 340.0 USD [Member] | January 2017 - July 2021 300.0 USD 278.3 CHF [Member] | November 2019 250Usd 226.8Chf [Member] | January 2020 225.0 USD 206.3 CHF [Member] | January 2015 171.5 USD [Member] | December 2014 340Usd 181322Clp [Member] | July 2020 201.5 USD 489.3 RON [Member] | January 2015 898.4 EUR 1466.0 CHF [Member] | January 2015 - January 2021 720.8 EUR 877.0 CHF [Member] | January 2015 - September 2022 383.8 EUR 477.0 CHF [Member] | January 2015 - January 2017 360.4 EUR 589.0 CHF [Member] | April 2018 285.1 EUR 346.7 CHF [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] | December 2014 134.2 USD 107800.0 CLP [Member] | December 2015 69.1 EUR 53,000.0 CLP [Member] | January 2015 365.8 EUR 10521.8 CZK [Member] | January 2015 - January 2020 318.9 EUR 8818.7 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 400.5 EUR 1605.6 PLN [Member] | January 2015 - January 2017 245.0 EUR 1000.6 PLN [Member] | September 2016 200.0 EUR 892.7 PLN [Member] | January 2015 - January 2020 144.6 EUR 605.0 PLN [Member] | July 2017 82Euro 318Pln [Member] | December 2014 181,322.0 CLP 340.0 USD [Member] | December 2014 107,800.0 CLP 134.2 EUR [Member] [Member] | December 2015 53,000.0 CLP 69.1 EUR [Member] | January 2021 1000.0 USD 688.2 EUR [Member] | March 2019 459.3 USD 326.5 EUR [Member] | January 2023 202.9 USD 141.7 EUR [Member] | January 2022 1,400.0 USD 760,340.0 CLP [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] | 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] | 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] | Unitymedia Hessen [Member] | VTR GlobalCom [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] | 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] | 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] | Unitymedia Hessen [Member] | VTR GlobalCom [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | CLP | CLP | CLP | USD ($) | USD ($) | USD ($) | USD ($) | GBP (£) | GBP (£) | GBP (£) | GBP (£) | GBP (£) | GBP (£) | GBP (£) | GBP (£) | GBP (£) | GBP (£) | GBP (£) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | CHF | CHF | CHF | CHF | CHF | CHF | CLP | RON | CHF | CHF | CHF | CHF | CHF | CHF | CHF | CHF | CLP | CLP | CZK | CZK | CZK | CZK | HUF | HUF | HUF | HUF | PLN | PLN | PLN | PLN | PLN | USD ($) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | CLP | |
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional amount of derivative | $1,400 | $1,384.60 | $1,370.40 | $500 | $425 | $330 | $330 | $291.50 | $170 | $55 | $50 | $525 | $340 | $327.50 | $312 | $300 | $300 | $262.10 | $250 | $250 | $200 | $197.50 | $128 | $100 | $405.90 | $340 | $300 | $250 | $225 | $171.50 | $340 | $201.50 | € 898.40 | € 720.80 | € 383.80 | € 360.40 | € 285.10 | € 175 | € 107.40 | € 75 | € 134.20 | € 69.10 | € 365.80 | € 318.90 | € 60 | € 39.60 | € 260 | € 260 | € 150 | € 78 | € 400.50 | € 245 | € 200 | € 144.60 | € 82 | 181,322 | 107,800 | 53,000 | $797.10 | $459.30 | $202.90 | $1,400 | £ 873.6 | £ 901.4 | £ 881.6 | £ 308.9 | £ 255.8 | £ 199.4 | £ 199.4 | £ 186.2 | £ 102.9 | £ 27.7 | £ 30.7 | € 396.30 | € 244.60 | € 249.50 | € 240 | € 226.50 | € 219.10 | € 194.10 | € 181.50 | € 181.40 | € 151 | € 150.50 | € 97.20 | € 75.40 | 373.1 | 370.9 | 278.3 | 226.8 | 206.3 | 187.1 | 181,322 | 489.3 | 1,466 | 877 | 477 | 589 | 346.7 | 258.6 | 129 | 110.9 | 107,800 | 53,000 | 10,521.80 | 8,818.70 | 1,703.10 | 1,000 | 75,570 | 75,570 | 43,367.50 | 19,500 | 1,605.60 | 1,000.60 | 892.7 | 605 | 318 | $340 | € 134.20 | € 69.10 | € 546.50 | € 326.50 | € 141.70 | 760,340 |
Derivative Interest Rate Referenced | ' | '6B mo.B LIBOR | '6B mo.B LIBOR | ' | ' | ' | ' | ' | ' | ' | ' | '6B mo.B LIBOR | '6 mo. LIBOR | '6B mo.B LIBOR | '6B mo.B LIBOR | '6B mo.B LIBOR | '6B mo.B LIBOR | '6B mo.B LIBOR | ' | ' | '6B mo.B LIBOR | '6B mo.B LIBOR | '6B mo.B LIBOR | '6B mo.B LIBOR | '6 mo. LIBOR | '6B mo.B LIBOR | '6B mo.B LIBOR | ' | '6B mo.B LIBOR | '6B mo.B LIBOR | '6B mo.B LIBOR | '6B mo.B LIBOR | '6B mo.B EURIBOR | '6B mo.B EURIBOR | '6B mo.B EURIBOR | '6B mo.B EURIBOR | ' | ' | '6B mo.B EURIBOR | ' | '6B mo.B EURIBOR | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 mo. GBP LIBOR | '6 mo. GBP LIBOR | '6 mo. GBP LIBOR | ' | ' | ' | ' | ' | ' | ' | ' | '6 mo. EURIBOR | ' | '6B mo.B EURIBOR | ' | '6B mo.B EURIBOR | '6B mo.B EURIBOR | ' | ' | ' | '6B mo.B EURIBOR | '6B mo.B EURIBOR | ' | '6 mo. CHF LIBOR | '6B mo.B CHFB LIBOR | '6B mo.B CHFB LIBOR | '6 mo. CHF LIBOR | ' | '6B mo.B CHFB LIBOR | ' | ' | '6B mo.B CHFB LIBOR | '6B mo.B CHFB LIBOR | '6B mo.B CHFB LIBOR | '6B mo.B CHFB LIBOR | ' | ' | '6B mo.B CHFB LIBOR | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 mo. LIBOR | '6 mo. EURIBOR | ' | ' | ' | ' | ' |
Derivative Interest Rate Above Referenced Rate | ' | 2.75% | 2.75% | ' | ' | ' | ' | ' | ' | ' | ' | 1.99% | ' | 4.92% | 2.50% | 1.75% | 3.00% | 2.50% | ' | ' | 3.00% | 4.92% | 2.50% | 1.75% | 2.50% | 3.50% | 2.50% | ' | 4.81% | 2.75% | 1.75% | 3.50% | 1.68% | 2.50% | 2.00% | 3.75% | ' | ' | 3.00% | ' | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.18% | 3.10% | 2.06% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.87% | ' | 3.04% | 2.51% | ' | ' | ' | 4.91% | 2.90% | ' | 2.63% | 4.01% | 2.46% | 5.01% | ' | 2.95% | ' | ' | 1.94% | 2.62% | 2.22% | 3.94% | ' | ' | 3.28% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.75% | 2.00% | ' | ' | ' | ' | ' |
Derivative Interest Rate | 5.01% | ' | ' | 5.25% | 5.50% | 8.38% | 6.00% | 5.38% | 8.38% | 6.50% | 6.00% | ' | ' | ' | ' | ' | ' | ' | 7.25% | 7.25% | ' | ' | ' | ' | ' | ' | ' | 7.25% | ' | ' | ' | ' | ' | ' | ' | ' | 10.51% | 7.63% | ' | 7.63% | ' | 3.50% | 5.48% | 5.58% | 5.50% | 3.00% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 6.00% | 5.50% | 3.00% | 8.76% | 10.00% | 5.75% | 5.50% | 7.50% | 5.50% | 6.88% | 5.49% | ' | ' | ' | 5.82% | 9.08% | 6.44% | 5.49% | 9.05% | 7.03% | 5.75% | 6.25% | ' | 7.52% | ' | 5.78% | ' | ' | 7.74% | 7.50% | 7.31% | ' | ' | 5.77% | ' | ' | ' | ' | 5.44% | ' | 8.76% | 11.34% | ' | ' | ' | ' | 9.87% | 6.76% | ' | 6.98% | 10.00% | 5.75% | 5.99% | 5.44% | 6.99% | 3.75% | 9.40% | 10.56% | 9.20% | 9.15% | 7.50% | 9.03% | 8.19% | 7.98% | 5.60% | ' | ' | 3.50% | 5.60% | 7.98% | 5.33% | 10.94% |
Derivative_Instruments_Interes
Derivative Instruments (Interest Rate Swaps) (Schedule) (Details) (Interest Rate Swap [Member]) | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 |
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 2015 1,554.0 EUR [Member] | January 2015 1364.8 EUR 3.44% [Member] | July 2020 750.0 EUR [Member] | January 2015 - January 2021 750.0 EUR [Member] | January 2015 to December 2016 500Euro 4.32Percent [Member] | January 2015 - January 2023 290.0 EUR [Member] | December 2015 263.3Euro 3.97Percent [Member] | January 2023 210.0 EUR [Member] | January 2015 to January 2018 175Euro 3.74Percent [Member] | January 2015 to July 2020 171.3Euro 3.95Percent [Member] | July 2020 171.3Euro 4.32Percent [Member] | December 2014 107.0 EUR 4.73 Percent [Member] | January 2015 - November 2021 107.0 EUR 2.89 Percent [Member] | January 2015 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 2018 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 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] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [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 2015 1,554.0 EUR [Member] | January 2015 1364.8 EUR 3.44% [Member] | July 2020 750.0 EUR [Member] | January 2015 - January 2021 750.0 EUR [Member] | January 2015 to December 2016 500Euro 4.32Percent [Member] | January 2015 - January 2023 290.0 EUR [Member] | December 2015 263.3Euro 3.97Percent [Member] | January 2023 210.0 EUR [Member] | January 2015 to January 2018 175Euro 3.74Percent [Member] | January 2015 to July 2020 171.3Euro 3.95Percent [Member] | July 2020 171.3Euro 4.32Percent [Member] | December 2014 107.0 EUR 4.73 Percent [Member] | January 2015 - November 2021 107.0 EUR 2.89 Percent [Member] | January 2015 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 2018 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 2015 1,554.0 EUR [Member] | January 2015 1364.8 EUR 3.44% [Member] | July 2020 750.0 EUR [Member] | January 2015 - January 2021 750.0 EUR [Member] | January 2015 to December 2016 500Euro 4.32Percent [Member] | January 2015 - January 2023 290.0 EUR [Member] | December 2015 263.3Euro 3.97Percent [Member] | January 2023 210.0 EUR [Member] | January 2015 to January 2018 175Euro 3.74Percent [Member] | January 2015 to July 2020 171.3Euro 3.95Percent [Member] | July 2020 171.3Euro 4.32Percent [Member] | December 2014 107.0 EUR 4.73 Percent [Member] | January 2015 - November 2021 107.0 EUR 2.89 Percent [Member] | January 2015 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 2018 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 ($) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | CHF | CHF | CHF | CHF | 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] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [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] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | Telenet International [Member] | |
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional amount of derivative | £ 2,155 | £ 650 | £ 650 | £ 600 | £ 300 | $1,000 | $750 | € 1,554 | € 1,364.80 | € 750 | € 750 | € 500 | € 290 | € 263.30 | € 210 | € 175 | € 171.30 | € 171.30 | € 107 | € 107 | 2,380 | 711.5 | 500 | 400 | 370.9 | 226.8 | € 600 | € 350 | € 305 | € 250 | € 200 | € 150 | € 70 | € 55 | € 50 | € 50 | € 50 | € 50 | € 50 | € 45 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.50% | ' | ' | ' | 6.63% | 6.88% | ' | ' | 6.38% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.52% | ' | 3.87% | 2.90% | 1.37% | ' | ' | ' | 3.44% | ' | 2.57% | 4.32% | 2.79% | 3.97% | 2.88% | 3.74% | 3.95% | 4.32% | 4.73% | 2.89% | 2.81% | 1.89% | 1.65% | 2.51% | 3.82% | 6.88% | 3.29% | 3.54% | 2.46% | 3.49% | 3.55% | 3.55% | 3.00% | 2.29% | 3.55% | 3.52% | 3.40% | 2.99% | 3.00% | 3.20% |
Derivative Interest Rate Referenced | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 mo. GBP LIBOR | ' | '6B mo. GBP LIBOR | '6 mo. GBP LIBOR | '6 mo. GBP LIBOR | ' | ' | '1B mo.B EURIBOR | '6 mo. EURIBOR | ' | '6B mo.B EURIBOR | '6B mo.B EURIBOR | '6B mo.B EURIBOR | '6B mo.B EURIBOR | '6B mo.B EURIBOR | '6B mo.B EURIBOR | '6B mo.B EURIBOR | '6 mo. EURIBOR | '6B mo.B EURIBOR | '6B mo.B EURIBOR | '6 mo. CHF LIBOR | '6 mo. CHF LIBOR | '6 mo. CHF LIBOR | '6 mo. CHF LIBOR | '6 mo. CHF LIBOR | '6B mo. CHF LIBOR | '3B mo.B EURIBOR | '3B mo.B EURIBOR | '3B mo.B EURIBOR | '3B mo.B EURIBOR | '3B mo.B EURIBOR | '3B mo.B EURIBOR | '3B mo.B EURIBOR | '3B mo.B EURIBOR | '3B mo.B EURIBOR | '3B mo.B EURIBOR | '3B mo.B EURIBOR | '3B mo.B EURIBOR | '3B mo.B EURIBOR | '3B mo.B EURIBOR | ' | '6B mo. GBP LIBOR | ' | ' | ' | '6B mo. LIBOR | '6B mo. LIBOR | '6B mo.B EURIBOR | ' | '6B mo.B EURIBOR | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative Interest Rate Above Referenced Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.84% | ' | ' | ' | ' | 3.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.01% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.84% | ' | ' | ' | 3.03% | 4.89% | 3.56% | ' | 3.16% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative_Instruments_Interes1
Derivative Instruments (Interest Rate Caps) (Schedule) (Details) (EUR €) | Sep. 30, 2014 |
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 of derivative | € 735 |
Maximum rate | 7.00% |
June 2015 to June 2017 50Euro 4.5Percent [Member] | Interest Rate Cap [Member] | Telenet International [Member] | ' |
Derivative [Line Items] | ' |
Notional amount of derivative | 50 |
Maximum rate | 4.50% |
December 2017 0.8 EUR 6.50 Percent [Member] | Interest Rate Cap [Member] | Telenet NV [Member] | ' |
Derivative [Line Items] | ' |
Notional amount of derivative | 0.8 |
Maximum rate | 6.50% |
December 2017 0.8 EUR 5.50 Percent [Member] | Interest Rate Cap [Member] | Telenet NV [Member] | ' |
Derivative [Line Items] | ' |
Notional amount of derivative | 0.8 |
Maximum rate | 5.50% |
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 of derivative | € 735 |
Maximum rate | 7.00% |
Derivative_Instruments_Interes2
Derivative Instruments (Interest Rate Collars) (Schedule) (Details) (Interest Rate Collar [Member], EUR €) | Sep. 30, 2014 |
In Millions, unless otherwise specified | |
January 2020 1,135.0 EUR [Member] | UPC Broadband Holding [Member] | ' |
Derivative [Line Items] | ' |
Notional amount of derivative | € 1,135 |
Minimum rate | 1.00% |
Maximum rate | 3.54% |
July 2017 950.0 EUR [Member] | Telenet International [Member] | ' |
Derivative [Line Items] | ' |
Notional amount of derivative | € 950 |
Minimum rate | 2.00% |
Maximum rate | 4.00% |
Derivative_Instruments_Foreign
Derivative Instruments (Foreign Currency Forwards) (Schedule) (Details) (Foreign Exchange Forward [Member]) | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 |
In Millions, unless otherwise specified | LGE Financing [Member] | LGE Financing [Member] | LGE Financing [Member] | LGE Financing [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] | VTR GlobalCom [Member] | VTR GlobalCom [Member] |
Foreign Currency Forward 1 [Member] | Foreign Currency Forward 1 [Member] | Foreign Currency Forward 2 [Member] | Foreign Currency Forward 2 [Member] | Foreign Currency Forward 3 [Member] | Foreign Currency Forward 3 [Member] | Foreign Currency Forward 4 [Member] | Foreign Currency Forward 4 [Member] | Foreign Currency Forward 5 [Member] | Foreign Currency Forward 5 [Member] | Foreign Currency Forward 6 [Member] | Foreign Currency Forward 6 [Member] | Foreign Currency Forward 7 [Member] | Foreign Currency Forward 7 [Member] | Foreign Currency Forward 8 [Member] | Foreign Currency Forward 8 [Member] | Foreign Currency Forward 9 [Member] | Foreign Currency Forward 9 [Member] | Foreign Currency Forward 10 [Member] | Foreign Currency Forward 10 [Member] | Foreign Currency Forward 11 [Member] | Foreign Currency Forward 11 [Member] | Foreign Currency Forward 12 [Member] | Foreign Currency Forward 12 [Member] | Foreign Currency Forward 13 [Member] | Foreign Currency Forward 13 [Member] | Foreign Currency Forward 14 [Member] | Foreign Currency Forward 14 [Member] | Foreign Currency Forward 15 [Member] | Foreign Currency Forward 15 [Member] | |
USD ($) | EUR (€) | EUR (€) | GBP (£) | USD ($) | CZK | CHF | EUR (€) | CZK | EUR (€) | EUR (€) | HUF | EUR (€) | PLN | EUR (€) | GBP (£) | CHF | EUR (€) | CZK | EUR (€) | EUR (€) | HUF | EUR (€) | PLN | EUR (€) | RON | USD ($) | EUR (€) | USD ($) | CLP | |
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional amount of derivative | $301.40 | € 236.50 | € 67.20 | £ 52.5 | $1.50 | 29.8 | 37.3 | € 30.60 | 244.5 | € 9 | € 8.20 | 2,550 | € 24 | 102.4 | € 2.50 | £ 2.1 | 22 | € 18.20 | 300 | € 10.90 | € 14.50 | 4,500 | € 13.20 | 55 | € 7.60 | 33.5 | $10.50 | € 7.70 | $28.20 | 16,248.60 |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
Ziggo Collar [Member] | ITV Collar [Member] | Virgin Media Acquisition [Member] | |
Customer Relationships [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Estimated volatilities | 22.90% | 25.70% | ' |
Discount rate | ' | ' | 9.00% |
Fair_Value_Measurements_Summar
Fair Value Measurements (Summary of Assets and Liabilities at Fair Value) (Schedule) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Assets: | ' | ' |
Derivative instruments | $1,528.20 | $1,204.20 |
Investments, fair value | 4,364.30 | 3,481.80 |
Total assets | 5,892.50 | 4,686 |
Liabilities: | ' | ' |
Derivative instruments | 2,814.10 | 3,056.50 |
Total liabilities | 2,814.10 | 3,056.50 |
Quoted prices in active markets for identical assets (Level 1) | ' | ' |
Assets: | ' | ' |
Derivative instruments | 0 | 0 |
Investments, fair value | 4,049.60 | 3,182.40 |
Total assets | 4,049.60 | 3,182.40 |
Liabilities: | ' | ' |
Total liabilities | 0 | 0 |
Significant other observable inputs (Level 2) | ' | ' |
Assets: | ' | ' |
Derivative instruments | 1,074.90 | 773.8 |
Investments, fair value | 0 | 0 |
Total assets | 1,074.90 | 773.8 |
Liabilities: | ' | ' |
Total liabilities | 2,593.20 | 2,939.60 |
Significant unobservable inputs (Level 3) | ' | ' |
Assets: | ' | ' |
Derivative instruments | 453.3 | 430.4 |
Investments, fair value | 314.7 | 299.4 |
Total assets | 768 | 729.8 |
Liabilities: | ' | ' |
Total liabilities | 220.9 | 116.9 |
Cross-currency and interest rate derivative contracts | ' | ' |
Assets: | ' | ' |
Derivative instruments | 1,067.80 | 769.2 |
Liabilities: | ' | ' |
Derivative instruments | 2,591.90 | 2,918.60 |
Cross-currency and interest rate derivative contracts | Quoted prices in active markets for identical assets (Level 1) | ' | ' |
Assets: | ' | ' |
Derivative instruments | 0 | 0 |
Liabilities: | ' | ' |
Derivative instruments | 0 | 0 |
Cross-currency and interest rate derivative contracts | Significant other observable inputs (Level 2) | ' | ' |
Assets: | ' | ' |
Derivative instruments | 1,067.80 | 769.2 |
Liabilities: | ' | ' |
Derivative instruments | 2,591.90 | 2,918.60 |
Cross-currency and interest rate derivative contracts | Significant unobservable inputs (Level 3) | ' | ' |
Assets: | ' | ' |
Derivative instruments | 0 | 0 |
Liabilities: | ' | ' |
Derivative instruments | 0 | 0 |
Equity-related derivative instruments | ' | ' |
Assets: | ' | ' |
Derivative instruments | 453.3 | 430.4 |
Liabilities: | ' | ' |
Derivative instruments | 220.9 | 116.9 |
Equity-related derivative instruments | Quoted prices in active markets for identical assets (Level 1) | ' | ' |
Assets: | ' | ' |
Derivative instruments | 0 | 0 |
Liabilities: | ' | ' |
Derivative instruments | 0 | 0 |
Equity-related derivative instruments | Significant other observable inputs (Level 2) | ' | ' |
Assets: | ' | ' |
Derivative instruments | 0 | 0 |
Liabilities: | ' | ' |
Derivative instruments | 0 | 0 |
Equity-related derivative instruments | Significant unobservable inputs (Level 3) | ' | ' |
Assets: | ' | ' |
Derivative instruments | 453.3 | 430.4 |
Liabilities: | ' | ' |
Derivative instruments | 220.9 | 116.9 |
Foreign currency forward contracts | ' | ' |
Assets: | ' | ' |
Derivative instruments | 5.8 | 2.6 |
Liabilities: | ' | ' |
Derivative instruments | 0.9 | 20.2 |
Foreign currency forward contracts | Quoted prices in active markets for identical assets (Level 1) | ' | ' |
Assets: | ' | ' |
Derivative instruments | 0 | 0 |
Liabilities: | ' | ' |
Derivative instruments | 0 | 0 |
Foreign currency forward contracts | Significant other observable inputs (Level 2) | ' | ' |
Assets: | ' | ' |
Derivative instruments | 5.8 | 2.6 |
Liabilities: | ' | ' |
Derivative instruments | 0.9 | 20.2 |
Foreign currency forward contracts | Significant unobservable inputs (Level 3) | ' | ' |
Assets: | ' | ' |
Derivative instruments | 0 | 0 |
Liabilities: | ' | ' |
Derivative instruments | 0 | 0 |
Other | ' | ' |
Assets: | ' | ' |
Derivative instruments | 1.3 | 2 |
Liabilities: | ' | ' |
Derivative instruments | 0.4 | 0.8 |
Other | Quoted prices in active markets for identical assets (Level 1) | ' | ' |
Assets: | ' | ' |
Derivative instruments | 0 | 0 |
Liabilities: | ' | ' |
Derivative instruments | 0 | 0 |
Other | Significant other observable inputs (Level 2) | ' | ' |
Assets: | ' | ' |
Derivative instruments | 1.3 | 2 |
Liabilities: | ' | ' |
Derivative instruments | 0.4 | 0.8 |
Other | Significant unobservable inputs (Level 3) | ' | ' |
Assets: | ' | ' |
Derivative instruments | 0 | 0 |
Liabilities: | ' | ' |
Derivative instruments | $0 | $0 |
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, 2014 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' |
Balance of net assets at January 1, 2014 | $612.90 |
Partial settlement of the Ziggo Collar (a) | 17.9 |
Gains (losses) included in net loss (b): | ' |
Realized and unrealized losses on derivative instruments, net | -124.3 |
Realized and unrealized gains due to changes in fair values of certain investments, net | 29.5 |
Foreign currency translation adjustments and other, net | 11.1 |
Balance of net assets at September 30, 2014 | 547.1 |
Investments | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' |
Balance of net assets at January 1, 2014 | 299.4 |
Partial settlement of the Ziggo Collar (a) | 0 |
Gains (losses) included in net loss (b): | ' |
Realized and unrealized losses on derivative instruments, net | 0 |
Realized and unrealized gains due to changes in fair values of certain investments, net | 29.5 |
Foreign currency translation adjustments and other, net | -14.2 |
Balance of net assets at September 30, 2014 | 314.7 |
Equity-related derivative instruments | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' |
Balance of net assets at January 1, 2014 | 313.5 |
Partial settlement of the Ziggo Collar (a) | 17.9 |
Gains (losses) included in net loss (b): | ' |
Realized and unrealized losses on derivative instruments, net | -124.3 |
Realized and unrealized gains due to changes in fair values of certain investments, net | 0 |
Foreign currency translation adjustments and other, net | 25.3 |
Balance of net assets at September 30, 2014 | $232.40 |
Longlived_Assets_Narrative_Det
Long-lived Assets (Narrative) (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Long lived Assets | ' | ' |
Capital leases | $106.60 | $108.30 |
Noncash vendor financing arrangement, cash increase, excluding value added tax | 677.9 | 366 |
Value added tax, vendor financing arrangement | $76.10 | $28.90 |
Longlived_Assets_Schedule_of_P
Long-lived Assets (Schedule of PP&E) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Property and equipment, gross | $34,887.40 | $34,901.10 |
Accumulated depreciation | -12,767.80 | -10,926.20 |
Total property and equipment, net | 22,119.60 | 23,974.90 |
Distribution Systems [Member] | ' | ' |
Property and equipment, gross | 24,884.20 | 25,193.20 |
Customer Premises Equipment [Member] | ' | ' |
Property and equipment, gross | 6,297.10 | 6,126 |
Support Equipment, Buildings and Land [Member] | ' | ' |
Property and equipment, gross | $3,706.10 | $3,581.90 |
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, 2014 |
Goodwill [Roll Forward] | ' |
Goodwill beginning balance | $23,748.80 |
Acquisitions and related adjustments | 5.1 |
Foreign currency translation adjustments | -1,358 |
Goodwill ending balance | 22,395.90 |
European Operations Division Virgin Media (U.K.) [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill beginning balance | 9,598.20 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments | -201.1 |
Goodwill ending balance | 9,397.10 |
European Operations Division Germany (Unitymedia KabelBW) [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill beginning balance | 3,939.40 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments | -331.4 |
Goodwill ending balance | 3,608 |
European Operations Division Belgium (Telenet) [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill beginning balance | 2,255.10 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments | -189.7 |
Goodwill ending balance | 2,065.40 |
European Operations Division Netherlands [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill beginning balance | 1,260.40 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments | -106.1 |
Goodwill ending balance | 1,154.30 |
European Operations Division Switzerland [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill beginning balance | 3,197.40 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments | -221.4 |
Goodwill ending balance | 2,976 |
European Operations Division Other Western Europe [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill beginning balance | 1,079.70 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments | -90.8 |
Goodwill ending balance | 988.9 |
European Operations Division Total Western Europe [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill beginning balance | 21,330.20 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments | -1,140.50 |
Goodwill ending balance | 20,189.70 |
European Operations Division Central and Eastern Europe [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill beginning balance | 1,520.10 |
Acquisitions and related adjustments | 5.1 |
Foreign currency translation adjustments | -147.2 |
Goodwill ending balance | 1,378 |
Total European Operations Division [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill beginning balance | 22,850.30 |
Acquisitions and related adjustments | 5.1 |
Foreign currency translation adjustments | -1,287.70 |
Goodwill ending balance | 21,567.70 |
VTR Group (Chile) [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill beginning balance | 508.5 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments | -61.9 |
Goodwill ending balance | 446.6 |
Corporate and Other [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill beginning balance | 390 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments | -8.4 |
Goodwill ending balance | $381.60 |
Longlived_Assets_Schedule_of_I
Long-lived Assets (Schedule of Intangible Assets Subject to Amortization, Net) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Gross carrying amount | $7,833.50 | $8,404.80 |
Accumulated amortization | -3,018.10 | -2,609.40 |
Net carrying amount | 4,815.40 | 5,795.40 |
Customer Relationships [Member] | ' | ' |
Gross carrying amount | 7,589.20 | 8,116.70 |
Accumulated amortization | -2,886.10 | -2,458.40 |
Net carrying amount | 4,703.10 | 5,658.30 |
Other Intangible Assets [Member] | ' | ' |
Gross carrying amount | 244.3 | 288.1 |
Accumulated amortization | -132 | -151 |
Net carrying amount | $112.30 | $137.10 |
Debt_and_Capital_Lease_Obligat2
Debt and Capital Lease Obligations (Consolidated Debt and Capital Lease Obligations) (Details) | 0 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 1 Months Ended | 1 Months Ended | 9 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jul. 07, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Apr. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Jan. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Jan. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | |
USD ($) | USD ($) | USD ($) | USD ($) | VM Notes [Member] | VM Notes [Member] | VM Notes [Member] | VM Credit Facility [Member] | VM Credit Facility [Member] | VM Credit Facility [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] | UPC Holding Senior Notes 9.875 Debt [Member] | UPCB SPE Notes [Member] | UPCB SPE Notes [Member] | UPCB SPE Notes [Member] | UPC Broadband Holding Bank Facility [Member] | UPC Broadband Holding Bank Facility [Member] | UPC Broadband Holding Bank Facility [Member] | UPC Holding Senior Notes [Member] | UPC Holding Senior Notes [Member] | UPC Holding Senior Notes [Member] | Unitymedia KabelBW Notes [Member] | Unitymedia KabelBW Notes [Member] | Unitymedia KabelBW Notes [Member] | Unitymedia KabelBW Revolving Credit Facilities [Member] | Unitymedia KabelBW Revolving Credit Facilities [Member] | Unitymedia KabelBW Revolving Credit Facilities [Member] | Telenet Credit Facility [Member] | Telenet Credit Facility [Member] | Telenet Credit Facility [Member] | Telenet SPE Notes [Member] | Telenet SPE Notes [Member] | Telenet SPE Notes [Member] | VTR Senior Secured Notes [Member] | VTR Senior Secured Notes [Member] | VTR Senior Secured Notes [Member] | VTR Senior Secured Notes [Member] | Sumitomo Collar Loan [Member] | Sumitomo Collar Loan [Member] | Sumitomo Collar Loan [Member] | ITV Collar Loan [Member] | ITV Collar Loan [Member] | Liberty Puerto Rico Bank Facility [Member] | Liberty Puerto Rico Bank Facility [Member] | Ziggo Collar [Member] | Ziggo Collar [Member] | Ziggo Collar [Member] | Ziggo Margin Loan [Member] | Ziggo Margin Loan [Member] | Vendor Financing [Member] | Vendor Financing [Member] | VTR Wireless Bank Facility [Member] | VTR Wireless Bank Facility [Member] | VTR Wireless Bank Facility [Member] | Other Debt [Member] | Other Debt [Member] | Other Debt [Member] | Other Debt [Member] | Other Debt [Member] | Unitymedia KabelBW Capital Lease Obligations [Member] | Unitymedia KabelBW Capital Lease Obligations [Member] | Telenet Capital Lease [Member] | Telenet Capital Lease [Member] | Virgin Media Capital Lease Obligations [Member] | Virgin Media Capital Lease Obligations [Member] | Other Subsidiaries Capital Lease [Member] | Other Subsidiaries Capital Lease [Member] | Aggregate Variable and Fixed Rate Indebtedness [Member] | |
USD ($) | GBP (£) | USD ($) | USD ($) | GBP (£) | USD ($) | USD ($) | GBP (£) | USD ($) | Exchange Per $1000 Principal Amount [Member] | Exchange Per $1000 Principal Amount [Member] | Exchange Per $1000 Principal Amount [Member] | USD ($) | USD ($) | GBP (£) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CLP | USD ($) | USD ($) | United States of America, Dollars | Chile, Pesos | Chile, Pesos | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||||
USD ($) | Class A Ordinary Shares [Member] | Class C Ordinary Shares [Member] | CLP | USD ($) | CLP | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average interest rate | ' | 5.48% | ' | ' | 6.11% | 6.11% | ' | 3.77% | 3.77% | ' | 6.50% | 6.50% | ' | ' | ' | ' | ' | 6.88% | 6.88% | ' | 3.57% | 3.57% | ' | 7.16% | 7.16% | ' | 6.87% | 6.87% | ' | 0.00% | 0.00% | ' | 3.42% | 3.42% | ' | 5.93% | 5.93% | ' | ' | 6.88% | 6.88% | ' | 1.88% | 1.88% | ' | 1.73% | ' | 5.20% | ' | 0.45% | 0.45% | ' | 0.00% | ' | 3.57% | ' | ' | ' | ' | 8.97% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.50% |
Unused borrowing capacity | ' | $3,630,000,000 | ' | ' | $0 | £ 0 | ' | $1,070,600,000 | £ 660,000,000 | ' | $0 | £ 0 | ' | ' | ' | ' | ' | $0 | £ 0 | ' | $1,283,400,000 | € 1,016,200,000 | ' | $0 | € 0 | ' | $0 | € 0 | ' | $631,400,000 | € 500,000,000 | ' | $407,800,000 | € 322,900,000 | ' | $0 | € 0 | ' | ' | $0 | € 0 | ' | $0 | € 0 | ' | $0 | ' | $40,000,000 | ' | $0 | € 0 | ' | $0 | ' | $0 | ' | ' | ' | ' | $196,800,000 | ' | 160,000,000 | $36,800,000 | 22,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated fair value | ' | 40,821,900,000 | ' | 44,229,000,000 | 8,384,500,000 | ' | 9,188,700,000 | 4,821,200,000 | ' | 4,388,900,000 | 159,800,000 | ' | 164,100,000 | ' | ' | ' | ' | 4,322,400,000 | ' | 4,536,500,000 | 3,238,500,000 | ' | 5,717,800,000 | 2,719,300,000 | ' | 3,297,400,000 | 7,624,400,000 | ' | 8,058,200,000 | 0 | ' | 0 | 1,709,600,000 | ' | 1,956,900,000 | 2,553,900,000 | ' | 2,916,500,000 | ' | 1,451,600,000 | ' | 0 | 895,700,000 | ' | 939,300,000 | 695,200,000 | 0 | 669,100,000 | 666,200,000 | 631,800,000 | ' | 852,900,000 | 0 | 634,300,000 | 759,000,000 | 603,100,000 | ' | ' | ' | 185,900,000 | 308,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Carrying value | ' | 39,483,800,000 | ' | 42,856,000,000 | 8,272,500,000 | ' | 9,150,100,000 | 4,887,900,000 | ' | 4,352,800,000 | 57,000,000 | ' | 57,500,000 | ' | ' | ' | ' | 4,075,200,000 | ' | 4,219,500,000 | 3,261,000,000 | ' | 5,671,400,000 | 2,495,100,000 | ' | 3,099,200,000 | 7,130,700,000 | ' | 7,651,900,000 | 0 | ' | 0 | 1,710,200,000 | ' | 1,936,900,000 | 2,399,500,000 | ' | 2,759,200,000 | ' | 1,400,000,000 | ' | 0 | 859,800,000 | ' | 894,300,000 | 691,200,000 | 0 | 671,900,000 | 665,000,000 | 626,900,000 | ' | 852,600,000 | 0 | 634,300,000 | 759,000,000 | 603,100,000 | ' | 113,100,000 | ' | 185,900,000 | 308,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fee on unused portion of credit facility | ' | ' | ' | ' | ' | ' | ' | 1.30% | 1.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.10% | 1.34% | 1.34% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital lease obligations: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total capital lease obligations | ' | 1,649,000,000 | ' | 1,848,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 852,300,000 | 952,000,000 | 427,000,000 | 451,200,000 | 298,900,000 | 373,500,000 | 70,800,000 | 71,600,000 | ' |
Total debt and capital lease obligations | ' | 41,132,800,000 | ' | 44,704,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current maturities | ' | -1,669,000,000 | ' | -1,023,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt and capital lease obligations | ' | 39,463,800,000 | ' | 43,680,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,887,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,261,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,710,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unused borrowing capacity considering limitations | ' | ' | ' | ' | ' | ' | ' | 718,600,000 | 443,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,201,800,000 | 951,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unused borrowing capacity, considering limitations, after compliance reporting requirements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,145,100,000 | 906,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capacity restricted to other subsidiaries | ' | ' | ' | ' | ' | ' | ' | 825,300,000 | 508,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.88% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.88% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
General term of vendor financing arrangements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Value added tax, vendor financing arrangement | ' | 76,100,000 | 28,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 74,400,000 | 47,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt conversion shares issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.4339 | 33.4963 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt conversion amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 910.51 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt conversion original amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,300,000 | 60,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gains (losses) on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -41,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,300,000 | ' | ' | ' | -2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption premiums | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Write-off of unamortized debt discounts | -900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Write off of deferred debt issuance cost | $10,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $7,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_and_Capital_Lease_Obligat3
Debt and Capital Lease Obligations (VM Notes) (Details) | 0 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | |||||||||||||||||
Jul. 07, 2014 | Mar. 28, 2014 | Mar. 28, 2014 | Mar. 28, 2014 | Apr. 30, 2014 | Mar. 28, 2014 | Mar. 28, 2014 | Mar. 14, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | |
USD ($) | VM Dollar Senior Secured Notes, 2025 [Member] | VM Sterling Senior Secured Notes, 2025 [Member] | VM Sterling Senior Secured Notes, 2025 [Member] | Original 2029 VM Senior Secured Notes [Member] | Original 2029 VM Senior Secured Notes [Member] | Original 2029 VM Senior Secured Notes [Member] | Original 2029 VM Senior Secured Notes [Member] | VM Sterling Senior Secured Notes, 2018 [Member] | VM Sterling Senior Secured Notes, 2018 [Member] | Additional 2029 VM Senior Secured Notes [Member] | Additional 2029 VM Senior Secured Notes [Member] | Senior Secured Notes Due 2018 [Member] | VM Senior Secured Notes, 2025 [Member] | VM Senior Secured Notes, 2029 [Member] | Virgin Media [Member] | Virgin Media [Member] | Virgin Media [Member] | Virgin Media [Member] | Virgin Media [Member] | Virgin Media [Member] | |
USD ($) | USD ($) | GBP (£) | USD ($) | GBP (£) | USD ($) | GBP (£) | USD ($) | GBP (£) | USD ($) | VM Facility C [Member] | VM Facility C [Member] | VM Facility D [Member] | VM Facility D [Member] | VM Facility E [Member] | VM Facility E [Member] | ||||||
USD ($) | GBP (£) | USD ($) | GBP (£) | USD ($) | GBP (£) | ||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate | ' | 5.50% | 5.50% | 5.50% | 6.25% | ' | ' | 6.25% | 7.00% | ' | ' | ' | 6.50% | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of debt | ' | $425,000,000 | $697,500,000 | £ 430,000,000 | ' | $365,000,000 | £ 225,000,000 | ' | $1,419,300,000 | £ 875,000,000 | $283,900,000 | £ 175,000,000 | $1,000,000,000 | ' | ' | $973,200,000 | £ 600,000,000 | $162,200,000 | £ 100,000,000 | $1,377,800,000 | £ 849,400,000 |
Extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 811,700,000 | 500,400,000 | ' | ' | ' | ' |
Issue price percent | ' | ' | ' | ' | 101.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional basis points used to determine redemption premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | 0.50% | ' | ' | ' | ' | ' | ' |
Gains (losses) on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | 5,200,000 | ' | ' | ' | -5,400,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Write-off of unamortized debt discounts | -900,000 | ' | ' | ' | ' | ' | ' | ' | -61,800,000 | ' | ' | ' | -33,900,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption premiums | ' | ' | ' | ' | ' | ' | ' | ' | 51,300,000 | ' | ' | ' | 32,400,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Write off of deferred debt issuance cost | $10,400,000 | ' | ' | ' | ' | ' | ' | ' | $5,300,000 | ' | ' | ' | $6,900,000 | ' | ' | ' | ' | ' | ' | ' | ' |
2019 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 102.75% | ' | ' | ' | ' | ' | ' | ' |
2020 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.83% | ' | ' | ' | ' | ' | ' | ' |
2021 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 103.13% | ' | ' | ' | ' | ' | ' |
2022 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 102.08% | ' | ' | ' | ' | ' | ' |
2023 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 101.04% | ' | ' | ' | ' | ' | ' |
2024 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | ' | ' | ' | ' | ' | ' |
Mandatory redemption price on senior Notes in event that certain assets sold or specific control changed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.00% | ' | ' | ' | ' | ' | ' |
Debt_and_Capital_Lease_Obligat4
Debt and Capital Lease Obligations (VM Credit Facility) (Details) | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 |
VM Credit Facility [Member] | VM Credit Facility [Member] | VM Credit Facility A [Member] | VM Credit Facility A [Member] | VM Credit Facility A [Member] | VM Credit Facility B [Member] | VM Credit Facility B [Member] | VM Credit Facility D [Member] | VM Credit Facility D [Member] | VM Credit Facility D [Member] | VM Credit Facility E [Member] | VM Credit Facility E [Member] | VM Credit Facility E [Member] | VM Revolving Credit Facility [Member] | VM Revolving Credit Facility [Member] | VM Revolving Credit Facility [Member] | VM Credit Facility B, D and E [Member] | |
USD ($) | USD ($) | GBP (£) | London Interbank Offered Rate (LIBOR) [Member] | USD ($) | London Interbank Offered Rate (LIBOR) [Member] | USD ($) | GBP (£) | London Interbank Offered Rate (LIBOR) [Member] | USD ($) | GBP (£) | London Interbank Offered Rate (LIBOR) [Member] | USD ($) | GBP (£) | London Interbank Offered Rate (LIBOR) [Member] | |||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Facility amount | ' | ' | ' | £ 375 | ' | $2,755 | ' | ' | £ 100 | ' | ' | £ 849.4 | ' | ' | £ 660 | ' | ' |
Unused borrowing capacity | ' | 1,070.60 | 0 | ' | ' | 0 | ' | 0 | ' | ' | 0 | ' | ' | 1,070.60 | ' | ' | ' |
Carrying value | ' | $4,887.90 | $608.20 | ' | ' | $2,743.50 | ' | $161.80 | ' | ' | $1,374.40 | ' | ' | $0 | ' | ' | ' |
Basis spread on variable rate | ' | ' | ' | ' | 3.25% | ' | 2.75% | ' | ' | 3.25% | ' | ' | 3.50% | ' | ' | 3.25% | ' |
Fee on unused portion of credit facility | 1.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LIBOR interest rate floor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.75% |
Debt_and_Capital_Lease_Obligat5
Debt and Capital Lease Obligations (UPC Broadband Holding Bank Facility) (Details) | 0 Months Ended | 1 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | ||||||||||||||||||
Jul. 07, 2014 | Jan. 31, 2014 | Jan. 31, 2014 | Apr. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Mar. 31, 2014 | Sep. 30, 2014 | Jan. 31, 2014 | Jan. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | |
USD ($) | UPC Broadband Holding Bank Facility R, S, AE [Member] | UPC Broadband Holding Bank Facility R, S, AE [Member] | UPC Holding Senior Notes 9.875 Debt [Member] | UPC Broadband Holding Bank Facility [Member] | UPC Broadband Holding Bank Facility [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 AC Debt [Member] | UPC Broadband Holding Bank Facility AD 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 AI Debt [Member] | Elimination of Facilities V, Y, Z, AC and AD in Consolidation [Member] | UPC Broadband Holding Bank Facility AF Debt [Member] | UPC Broadband Holding Bank Facility AF Debt [Member] | VTR Senior Secured Notes [Member] | VTR Senior Secured Notes [Member] | EURIBOR [Member] | EURIBOR [Member] | London Interbank Offered Rate (LIBOR) [Member] | |
USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | USD ($) | Secured Debt [Member] | UPC Broadband Holding Bank Facility AG Debt [Member] | UPC Broadband Holding Bank Facility AI Debt [Member] | UPC Broadband Holding Bank Facility AH Debt [Member] | |||
USD ($) | |||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate | ' | ' | ' | 9.88% | ' | ' | 7.63% | 7.63% | 6.38% | 6.38% | 6.63% | 7.25% | 6.88% | ' | ' | ' | ' | ' | ' | ' | 6.88% | ' | ' | ' | ' |
Basis spread on variable rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.75% | 3.25% | 2.50% |
Line of credit borrowing capacity | ' | ' | ' | ' | ' | ' | ' | € 500,000,000 | ' | € 750,000,000 | $1,000,000,000 | $750,000,000 | $750,000,000 | $1,554,400,000 | ' | € 1,305,000,000 | $1,016,200,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Unused borrowing capacity | ' | ' | ' | ' | 1,283,400,000 | ' | 0 | ' | 0 | ' | 0 | 0 | 0 | 0 | 0 | ' | 1,283,400,000 | 0 | ' | ' | ' | ' | ' | ' | ' |
Outstanding principal amount | ' | ' | ' | ' | 3,261,000,000 | ' | 631,500,000 | ' | 947,200,000 | ' | 1,000,000,000 | 750,000,000 | 750,000,000 | 1,959,100,000 | 1,301,900,000 | ' | 0 | -4,078,700,000 | ' | ' | ' | ' | ' | ' | ' |
Unused borrowing capacity considering limitations | ' | ' | ' | ' | 1,201,800,000 | 951,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unused borrowing capacity, considering limitations, after compliance reporting requirements | ' | ' | ' | ' | 1,145,100,000 | 906,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fee on unused portion of credit facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.30% | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit interest rate description | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'LIBOR | ' | ' | ' | ' | ' |
LIBOR interest rate floor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.75% | ' | ' | ' | ' | ' |
Principal amount of debt | ' | ' | ' | 400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,400,000,000 | ' | ' | ' | ' |
Proceeds from issuance of secured debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,375,000,000 | ' | ' | ' |
Cash received from subsidiary to repay debt | ' | 334,600,000 | 244,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments for settlement of derivative instrument | ' | 12,700,000 | 9,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Write off of deferred debt issuance cost | 10,400,000 | ' | ' | 4,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,400,000 | ' | 7,200,000 | ' | ' | ' | ' |
Gains (losses) on extinguishment of debt | ' | ' | ' | -41,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -9,300,000 | ' | ' | ' | ' | ' | ' |
Write-off of unamortized debt discounts | ($900,000) | ' | ' | $17,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4,900,000 | ' | ' | ' | ' | ' | ' |
Debt_and_Capital_Lease_Obligat6
Debt and Capital Lease Obligations (Telenet Credit Facility) (Details) | 0 Months Ended | 9 Months Ended | 1 Months Ended | 1 Months Ended | |||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Jul. 07, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 29, 2014 | Apr. 29, 2014 | Apr. 30, 2014 | Apr. 30, 2014 |
USD ($) | Telenet Credit Facility [Member] | Telenet Facility M [Member] | Telenet Facility M [Member] | Telenet Facility O [Member] | Telenet Facility O [Member] | Telenet Facility P [Member] | Telenet Facility P [Member] | Telenet Facility P [Member] | Telenet Facility S [Member] | Telenet Facility S [Member] | Telenet Facility S [Member] | Telenet Facility U [Member] | Telenet Facility U [Member] | Telenet Facility V [Member] | Telenet Facility V [Member] | Telenet Facility W [Member] | Telenet Facility W [Member] | Telenet Facility W [Member] | Telenet Facility X [Member] | Telenet Facility X [Member] | Telenet Facility X [Member] | Telenet Facility Y [Member] | Telenet Facility Y [Member] | Telenet Facility Y [Member] | Elimination of Telenet Facilities M, N, O, P, U and V in Consolidation [Member] | Telenet [Member] | Telenet [Member] | Telenet [Member] | Telenet [Member] | Telenet [Member] | Telenet [Member] | Telenet [Member] | |
USD ($) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | EURIBOR [Member] | USD ($) | EUR (€) | EURIBOR [Member] | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | EURIBOR [Member] | USD ($) | EUR (€) | EURIBOR [Member] | USD ($) | EUR (€) | EURIBOR [Member] | USD ($) | USD ($) | Telenet Facility S [Member] | Telenet Facility S [Member] | Telenet Facility S [Member] | Telenet Facility S [Member] | Senior Secured Notes Due 2016 [Member] | Senior Secured Notes Due 2016 [Member] | ||
USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | ||||||||||||||||||||||||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.30% | 5.30% |
Interest rate | ' | ' | 6.38% | 6.38% | 6.63% | 6.63% | ' | ' | 3.88% | ' | ' | 2.75% | 6.25% | 6.25% | 6.75% | 6.75% | ' | ' | 3.25% | ' | ' | 2.75% | ' | ' | 3.50% | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit borrowing capacity | ' | ' | ' | € 500 | ' | € 300 | ' | € 400 | ' | ' | € 36.90 | ' | ' | € 450 | ' | € 250 | ' | € 474.10 | ' | ' | € 286 | ' | ' | € 882.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unused borrowing capacity | ' | 407.8 | 0 | ' | 0 | ' | 0 | ' | ' | 46.6 | ' | ' | 0 | ' | 0 | ' | 0 | ' | ' | 361.2 | ' | ' | 0 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' |
Carrying value | ' | 1,710.20 | 631.5 | ' | 378.9 | ' | 505.2 | ' | ' | 0 | ' | ' | 568.3 | ' | 315.7 | ' | 597.5 | ' | ' | 0 | ' | ' | 1,112.70 | ' | ' | -2,399.60 | ' | 46.6 | 36.9 | 199.5 | 158 | ' | ' |
Fee on unused portion of credit facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.10% | 1.10% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 126.3 | 100 |
Gains (losses) on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -11.9 | ' | ' | ' | ' | ' | ' |
Redemption premiums | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.6 | ' | ' | ' | ' | ' | ' |
Write off of deferred debt issuance cost | 10.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.1 | ' | ' | ' | ' | ' | ' |
Write-off of unamortized debt discounts | ($0.90) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1.20 | ' | ' | ' | ' | ' | ' |
Debt_and_Capital_Lease_Obligat7
Debt and Capital Lease Obligations (Unitymedia KabelBW Revolving Credit Facilities) (Details) | 3 Months Ended | |||||||
Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | |
Old Unitymedia KabelBW Revolving Credit Facilities [Member] | Old Unitymedia KabelBW Revolving Credit Facilities [Member] | UM Super Senior Secured Facility [Member] | UM Super Senior Secured Facility [Member] | UM Super Senior Secured Facility [Member] | UM Senior Secured Facility [Member] | UM Senior Secured Facility [Member] | UM Senior Secured Facility [Member] | |
USD ($) | EUR (€) | USD ($) | EUR (€) | EURIBOR [Member] | USD ($) | EUR (€) | EURIBOR [Member] | |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Extinguishment of debt | $426,200,000 | € 337,500,000 | ' | ' | ' | ' | ' | ' |
Principal amount of debt | ' | ' | $101,000,000 | € 80,000,000 | ' | $530,400,000 | € 420,000,000 | ' |
Basis spread on variable rate | ' | ' | ' | ' | 2.25% | ' | ' | 2.75% |
Fee on unused portion of credit facility | ' | ' | 0.90% | 0.90% | ' | 1.10% | 1.10% | ' |
Debt_and_Capital_Lease_Obligat8
Debt and Capital Lease Obligations (Liberty Puerto Rico Bank Facility) (Details) (USD $) | 0 Months Ended |
Jul. 07, 2014 | |
Debt Instrument [Line Items] | ' |
Write off of deferred debt issuance cost | $10,400,000 |
Write-off of unamortized debt discounts | -900,000 |
Liberty Puerto Rico [Member] | New LPR Term Loan B [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount of debt | 530,000,000 |
Original issue discount | 99.50% |
LIBOR interest rate floor | 1.00% |
Liberty Puerto Rico [Member] | New LPR Term Loan B [Member] | London Interbank Offered Rate (LIBOR) [Member] | ' |
Debt Instrument [Line Items] | ' |
Basis spread on variable rate | 3.50% |
Liberty Puerto Rico [Member] | New LPR Term Loan C [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount of debt | 145,000,000 |
Liberty Puerto Rico [Member] | New LPR Term Loan C [Member] | London Interbank Offered Rate (LIBOR) [Member] | ' |
Debt Instrument [Line Items] | ' |
Basis spread on variable rate | 6.75% |
Liberty Puerto Rico [Member] | New LPR Revolving Loan [Member] | ' |
Debt Instrument [Line Items] | ' |
Line of credit borrowing capacity | 40,000,000 |
Liberty Puerto Rico [Member] | New LPR Revolving Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | ' |
Debt Instrument [Line Items] | ' |
Basis spread on variable rate | 3.50% |
Liberty Puerto Rico [Member] | Liberty Puerto Rico Bank Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | ' |
Debt Instrument [Line Items] | ' |
Gains (Losses) on Extinguishment of Debt | ($9,500,000) |
Maximum [Member] | Liberty Puerto Rico [Member] | New LPR Revolving Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | ' |
Debt Instrument [Line Items] | ' |
Fee on unused portion of credit facility | 0.50% |
Minimum [Member] | Liberty Puerto Rico [Member] | New LPR Revolving Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | ' |
Debt Instrument [Line Items] | ' |
Fee on unused portion of credit facility | 0.38% |
Debt_and_Capital_Lease_Obligat9
Debt and Capital Lease Obligations (Maturities of Debt) (Schedule and Footnotes) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
2014 (remainder of year) | $821.80 | ' |
2015 | 643.6 | ' |
2016 | 391.1 | ' |
2017 | 970.8 | ' |
2018 | 265.4 | ' |
2019 | 3,775.40 | ' |
Thereafter | 32,581.70 | ' |
Total debt maturities | 39,449.80 | ' |
Unamortized premium (discount) | 34 | ' |
Total debt | 39,483.80 | 42,856 |
Current portion | 1,453.10 | ' |
Noncurrent portion | 38,030.70 | ' |
Virgin Media [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
2014 (remainder of year) | 57.1 | ' |
2015 | 206.4 | ' |
2016 | 0 | ' |
2017 | 0 | ' |
2018 | 0 | ' |
2019 | 1,526.50 | ' |
Thereafter | 11,538 | ' |
Total debt maturities | 13,328 | ' |
Unamortized premium (discount) | 98.3 | ' |
Total debt | 13,426.30 | ' |
Current portion | 265.8 | ' |
Noncurrent portion | 13,160.50 | ' |
UPC Holding [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
2014 (remainder of year) | 101.7 | ' |
2015 | 312.1 | ' |
2016 | 0 | ' |
2017 | 0 | ' |
2018 | 0 | ' |
2019 | 0 | ' |
Thereafter | 9,847.50 | ' |
Total debt maturities | 10,261.30 | ' |
Unamortized premium (discount) | -16.2 | ' |
Total debt | 10,245.10 | ' |
Current portion | 413.8 | ' |
Noncurrent portion | 9,831.30 | ' |
UnityMedia KabelBW [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
2014 (remainder of year) | 22.3 | ' |
2015 | 77.9 | ' |
2016 | 0 | ' |
2017 | 0 | ' |
2018 | 0 | ' |
2019 | 2,227.50 | ' |
Thereafter | 4,906.10 | ' |
Total debt maturities | 7,233.80 | ' |
Unamortized premium (discount) | -2.8 | ' |
Total debt | 7,231 | ' |
Current portion | 100.3 | ' |
Noncurrent portion | 7,130.70 | ' |
Telenet [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
2014 (remainder of year) | 9.3 | ' |
2015 | 9.3 | ' |
2016 | 9.3 | ' |
2017 | 9.3 | ' |
2018 | 9.3 | ' |
2019 | 21.4 | ' |
Thereafter | 4,214.90 | ' |
Total debt maturities | 4,282.80 | ' |
Unamortized premium (discount) | -3.6 | ' |
Total debt | 4,279.20 | ' |
Current portion | 9.3 | ' |
Noncurrent portion | 4,269.90 | ' |
Other Subsidiaries [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
2014 (remainder of year) | 631.4 | ' |
2015 | 37.9 | ' |
2016 | 381.8 | ' |
2017 | 961.5 | ' |
2018 | 256.1 | ' |
2019 | 0 | ' |
Thereafter | 2,075.20 | ' |
Total debt maturities | 4,343.90 | ' |
Unamortized premium (discount) | -41.7 | ' |
Total debt | 4,302.20 | ' |
Current portion | 663.9 | ' |
Noncurrent portion | 3,638.30 | ' |
Other Subsidiaries [Member] | Ziggo Collar [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
2014 (remainder of year) | $631.90 | ' |
Recovered_Sheet1
Debt and Capital Lease Obligations (Capital Lease Obligations) (Schedule) (Details) (USD $) | Sep. 30, 2014 |
In Millions, unless otherwise specified | |
Debt Instrument [Line Items] | ' |
2014 (remainder of year) | $94.20 |
2015 | 300 |
2016 | 249.8 |
2017 | 199.7 |
2018 | 165.7 |
2019 | 150 |
Thereafter | 1,511.10 |
Total principal and interest payments | 2,670.50 |
Amounts representing interest | -1,021.50 |
Present value of net minimum lease payments | 1,649 |
Current portion | 215.9 |
Noncurrent portion | 1,433.10 |
UnityMedia KabelBW [Member] | ' |
Debt Instrument [Line Items] | ' |
2014 (remainder of year) | 23.1 |
2015 | 92.6 |
2016 | 92.6 |
2017 | 92.6 |
2018 | 92.6 |
2019 | 92.6 |
Thereafter | 1,008.10 |
Total principal and interest payments | 1,494.20 |
Amounts representing interest | -641.9 |
Present value of net minimum lease payments | 852.3 |
Current portion | 27.7 |
Noncurrent portion | 824.6 |
Telenet [Member] | ' |
Debt Instrument [Line Items] | ' |
2014 (remainder of year) | 19.3 |
2015 | 66.5 |
2016 | 66.1 |
2017 | 64.3 |
2018 | 60.8 |
2019 | 50 |
Thereafter | 248.9 |
Total principal and interest payments | 575.9 |
Amounts representing interest | -148.9 |
Present value of net minimum lease payments | 427 |
Current portion | 42.3 |
Noncurrent portion | 384.7 |
Virgin Media [Member] | ' |
Debt Instrument [Line Items] | ' |
2014 (remainder of year) | 41.9 |
2015 | 123.3 |
2016 | 71.9 |
2017 | 30.4 |
2018 | 6.9 |
2019 | 4.6 |
Thereafter | 231.3 |
Total principal and interest payments | 510.3 |
Amounts representing interest | -211.4 |
Present value of net minimum lease payments | 298.9 |
Current portion | 127.7 |
Noncurrent portion | 171.2 |
Other Subsidiaries [Member] | ' |
Debt Instrument [Line Items] | ' |
2014 (remainder of year) | 9.9 |
2015 | 17.6 |
2016 | 19.2 |
2017 | 12.4 |
2018 | 5.4 |
2019 | 2.8 |
Thereafter | 22.8 |
Total principal and interest payments | 90.1 |
Amounts representing interest | -19.3 |
Present value of net minimum lease payments | 70.8 |
Current portion | 18.2 |
Noncurrent portion | $52.60 |
Recovered_Sheet2
Debt and Capital Lease Obligations (Non-cash Refinancing Transactions) (Narrative) (Details) (Refinancing Transactions [Member], USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Refinancing Transactions [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Aggregate debt which resulted in non-cash borrowings and repayments | $3,953.20 | $5,061.50 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended |
In Millions, unless otherwise specified | Apr. 30, 2014 | Mar. 31, 2014 | Sep. 30, 2014 |
Income Taxes [Line Items] | ' | ' | ' |
Unrecognized tax benefits | ' | ' | 478.2 |
Unrecognized tax benefits that would have a favorable impact | ' | ' | 304.9 |
Reductions to unrecognized tax benefits, upper bound | ' | ' | 230 |
Domestic Tax Authority [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Income tax rate | 21.00% | 23.00% | 21.50% |
U.K. Tax Expected April 2015 [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Income tax rate | ' | ' | 20.00% |
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, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Accrued Income Taxes [Abstract] | ' | ' | ' | ' |
Computed bexpectedb tax benefit (expense) (a) | ($67.50) | $135.10 | $94.60 | $78.40 |
Change in valuation allowances | -215.9 | -20.1 | -358.4 | -19 |
International rate differences (b) | 67.3 | 8.5 | 169.9 | 50.9 |
Non-deductible or non-taxable interest and other expenses | -42.4 | -1.5 | -125.2 | -84.3 |
Tax effect of intercompany financing | 41.4 | 33.8 | 122.9 | 41.2 |
Enacted tax law and rate changes | 23.6 | -369.7 | 29.3 | -378.1 |
Non-deductible or non-taxable foreign currency exchange results | 52.1 | -39.6 | 28.8 | -29.4 |
Recognition of previously unrecognized tax benefits | 0 | 0 | 28.8 | 0 |
Basis and other differences in the treatment of items associated with investments in subsidiaries and affiliates | -3.9 | 5 | -15.8 | -25.7 |
Change in subsidiary tax attributes due to a deemed change in control | 0 | 6.7 | 0 | -84.7 |
Other, net | -0.3 | 18.6 | -2.9 | 13.9 |
Total income tax expense | ($145.60) | ($223.20) | ($28) | ($436.80) |
Equity_Details
Equity (Details) (USD $) | 9 Months Ended | 0 Months Ended | ||||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Mar. 14, 2014 |
Non-controlling interests | LGI Convertible Notes Debt [Member] | LGI Convertible Notes Debt [Member] | LGI Convertible Notes Debt [Member] | VTR GlobalCom and VTR Wireless | ||
Class A Ordinary Shares [Member] | Class C Ordinary Shares [Member] | VTR Finance [Member] | ||||
Schedule of Capitalization, Equity [Line Items] | ' | ' | ' | ' | ' | ' |
Shares purchased pursuant to repurchase programs (in shares) | ' | ' | ' | 8,062,792 | 14,581,019 | ' |
Average price paid per share pursuant to repurchase programs (in dollars per share) | ' | ' | ' | $42.19 | $41.82 | ' |
Total cost for stock purchased pursuant to repurchase programs | ' | ' | $949.90 | ' | ' | ' |
Remaining amount authorized under the stock repurchase program | ' | ' | 2,577.20 | ' | ' | ' |
Ownership percentage | ' | ' | ' | ' | ' | 20.00% |
Equity interest (in shares) | ' | ' | ' | ' | ' | 10,091,178 |
VTR NCI Acquisition | $0 | ($185.40) | ' | ' | ' | ' |
Sharebased_Compensation_Narrat
Share-based Compensation (Narrative) (Details) | 3 Months Ended | 0 Months Ended |
Mar. 31, 2014 | 1-May-14 | |
Performance Grant Award [Member] | ||
Performance Shares [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Granted (in shares) | ' | 1,000,000 |
Percent of PSUs granted not earned | 66.30% | ' |
Sharebased_Compensation_Summar
Share-based Compensation (Summary of Stock-Based Compensation) (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 | 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, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Continuing Operations [Member] | Continuing Operations [Member] | Continuing Operations [Member] | Continuing Operations [Member] | Discontinued Operations [Member] | Discontinued Operations [Member] | Discontinued Operations [Member] | Discontinued Operations [Member] | Operating expense | Operating expense | Operating expense | Operating expense | SG&A expense | SG&A expense | SG&A expense | SG&A expense | Other Stock Plan [Member] | Other Stock Plan [Member] | Other Stock Plan [Member] | Other Stock Plan [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Virgin Media [Member] | Virgin Media [Member] | Virgin Media [Member] | Virgin Media [Member] | Virgin Media [Member] | Virgin Media [Member] | Telenet [Member] | Telenet [Member] | Telenet [Member] | Telenet [Member] | Telenet [Member] | Telenet [Member] | |||||
Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | Other Share-Based Incentive Awards [Member] | Other Share-Based Incentive Awards [Member] | Other Share-Based Incentive Awards [Member] | Other Share-Based Incentive Awards [Member] | Virgin Media Replacement Awards [Member] | Virgin Media Replacement Awards [Member] | Virgin Media Replacement Awards [Member] | Virgin Media Replacement Awards [Member] | Virgin Media Replacement Awards [Member] | Virgin Media Replacement Awards [Member] | Telenet 2010 Specific Stock Option Plan [Member] | Stock Compensation Plan [Member] | Stock Compensation Plan [Member] | Stock Compensation Plan [Member] | Stock Compensation Plan [Member] | ||||||||||||||||||||||||||||||
SG&A expense | SG&A expense | |||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | $73.10 | $98.70 | $182.60 | $219.40 | $73.10 | $98.20 | $182.60 | $217.90 | $0 | $0.50 | $0 | $1.50 | $1 | $0.80 | $5.90 | $10.70 | $72.10 | $97.40 | $176.70 | $207.20 | $1.90 | $2.10 | $4.50 | $2.40 | $69.30 | $91.70 | $165.50 | $164.60 | $44.20 | $12.60 | $88 | $24.50 | $25.10 | $79.10 | $77.50 | $140.10 | $14.40 | $61.60 | $35.90 | $45.80 | $35.40 | $27.50 | $32.70 | $6.20 | $1.90 | $4.90 | $12.60 | $52.40 |
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, 2014 |
Parent Company [Member] | Stock Compensation Plan [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Total compensation expense not yet recognized | $150 |
Weighted average period remaining for expense recognition (in years) | '2 years 8 months 12 days |
Parent Company [Member] | Performance Shares [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Total compensation expense not yet recognized | 197.3 |
Weighted average period remaining for expense recognition (in years) | '1 year 6 months |
Telenet [Member] | Stock Compensation Plan [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Total compensation expense not yet recognized | $5.80 |
Weighted average period remaining for expense recognition (in years) | '2 years 2 months 12 days |
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, 2014 | Sep. 30, 2013 |
Total intrinsic value of awards exercised (in millions): | ' | ' |
Cash received from exercise of options | $34.30 | $57.20 |
Income tax benefit related to stock-based compensation expense | 37.6 | 33.2 |
Employee Stock Option [Member] | ' | ' |
Weighted average grant-date fair value per share of awards granted: | ' | ' |
Weighted average grant-date fair value per PSU granted (in dollars per share) | $11.40 | $11.09 |
Total intrinsic value of awards exercised (in millions): | ' | ' |
Total intrinsic value of awards exercised | 76.3 | 114.9 |
Stock Appreciation Rights (SARs) [Member] | ' | ' |
Weighted average grant-date fair value per share of awards granted: | ' | ' |
Weighted average grant-date fair value per PSU granted (in dollars per share) | $8.93 | $8.36 |
Total intrinsic value of awards exercised (in millions): | ' | ' |
Total intrinsic value of awards exercised | 23.7 | 59.6 |
Performance Stock Appreciation Rights (PSARs) [Member] | ' | ' |
Weighted average grant-date fair value per share of awards granted: | ' | ' |
Weighted average grant-date fair value per PSU granted (in dollars per share) | $8.15 | $8.31 |
Total intrinsic value of awards exercised (in millions): | ' | ' |
Total intrinsic value of awards exercised | $0.20 | $0 |
Restricted Stock Units (RSUs) [Member] | ' | ' |
Weighted average grant-date fair value per share of awards granted: | ' | ' |
Weighted average grant-date fair value per PSU granted (in dollars per share) | $39.77 | $35.74 |
PSUs / PGUs [Member] | ' | ' |
Weighted average grant-date fair value per share of awards granted: | ' | ' |
Weighted average grant-date fair value per PSU granted (in dollars per share) | $42.47 | $34.94 |
Minimum [Member] | ' | ' |
Assumptions used to estimate fair value of options, share appreciation rights (SARs) and PSARs granted: | ' | ' |
Risk-free interest rate | 0.81% | 0.36% |
Expected life | '3 years 1 month 6 days | '3 years 2 months 12 days |
Expected volatility | 25.10% | 26.50% |
Maximum [Member] | ' | ' |
Assumptions used to estimate fair value of options, share appreciation rights (SARs) and PSARs granted: | ' | ' |
Risk-free interest rate | 1.77% | 1.27% |
Expected life | '5 years 1 month 6 days | '7 years 1 month 6 days |
Expected volatility | 28.70% | 35.80% |
Sharebased_Compensation_Schedu
Share-based Compensation (Schedule of Stock Award Activity, Options, SARs & PSARs) (Details) (USD $) | 9 Months Ended |
In Millions, except Share data, unless otherwise specified | Sep. 30, 2014 |
Employee Stock Option [Member] | Class A Ordinary Shares [Member] | ' |
Number of shares | ' |
Options outstanding at beginning of period (in shares) | 2,708,445 |
Options granted (in shares) | 78,677 |
Options cancelled/forfeited (in shares) | -47,205 |
Options exercised (in shares) | -618,993 |
Options outstanding at end of period (in shares) | 2,120,924 |
Options exercisable at end of period (in shares) | 1,212,064 |
Weighted average exercise price | ' |
Options outstanding at beginning of period (in dollars per shares) | $16.12 |
Options granted (in dollars per shares) | $42.54 |
Options cancelled/forfeited (in dollars per share) | $22.14 |
Options exercised (in dollars per shares) | $14.90 |
Options outstanding at end of period (in dollars per shares) | $17.33 |
Options exercisable at end of period (in dollars per shares) | $13.83 |
Weighted average remaining contractual term, in years | ' |
Options outstanding at end of period | '5 years 9 months 18 days |
Options exercisable at end of period | '4 years 8 months 12 days |
Total intrinsic value of awards exercised (in millions): | ' |
Options outstanding at end of period | $53.50 |
Options exercisable at end of period | 34.8 |
Employee Stock Option [Member] | Class C Ordinary Shares [Member] | ' |
Number of shares | ' |
Options outstanding at beginning of period (in shares) | 7,031,369 |
Options granted (in shares) | 157,346 |
Options cancelled/forfeited (in shares) | -116,915 |
Options exercised (in shares) | -1,933,626 |
Options outstanding at end of period (in shares) | 5,138,174 |
Options exercisable at end of period (in shares) | 2,876,361 |
Weighted average exercise price | ' |
Options outstanding at beginning of period (in dollars per shares) | $14.95 |
Options granted (in dollars per shares) | $40.86 |
Options cancelled/forfeited (in dollars per share) | $20.78 |
Options exercised (in dollars per shares) | $12.64 |
Options outstanding at end of period (in dollars per shares) | $16.47 |
Options exercisable at end of period (in dollars per shares) | $13.36 |
Weighted average remaining contractual term, in years | ' |
Options outstanding at end of period | '5 years 10 months 24 days |
Options exercisable at end of period | '4 years 9 months 18 days |
Total intrinsic value of awards exercised (in millions): | ' |
Options outstanding at end of period | 126.2 |
Options exercisable at end of period | 79.5 |
Stock Appreciation Rights (SARs) [Member] | Class A Ordinary Shares [Member] | ' |
Number of shares | ' |
Options outstanding at beginning of period (in shares) | 4,168,758 |
Options granted (in shares) | 2,192,672 |
Options cancelled/forfeited (in shares) | -148,111 |
Options exercised (in shares) | -284,967 |
Options outstanding at end of period (in shares) | 5,928,352 |
Options exercisable at end of period (in shares) | 2,333,076 |
Weighted average exercise price | ' |
Options outstanding at beginning of period (in dollars per shares) | $24.78 |
Options granted (in dollars per shares) | $40.90 |
Options cancelled/forfeited (in dollars per share) | $30.17 |
Options exercised (in dollars per shares) | $21.12 |
Options outstanding at end of period (in dollars per shares) | $30.77 |
Options exercisable at end of period (in dollars per shares) | $20.71 |
Weighted average remaining contractual term, in years | ' |
Options outstanding at end of period | '5 years |
Options exercisable at end of period | '3 years 4 months 24 days |
Total intrinsic value of awards exercised (in millions): | ' |
Options outstanding at end of period | 69.8 |
Options exercisable at end of period | 50.9 |
Stock Appreciation Rights (SARs) [Member] | Class C Ordinary Shares [Member] | ' |
Number of shares | ' |
Options outstanding at beginning of period (in shares) | 12,437,530 |
Options granted (in shares) | 4,408,368 |
Options cancelled/forfeited (in shares) | -435,969 |
Options exercised (in shares) | -834,407 |
Options outstanding at end of period (in shares) | 15,575,522 |
Options exercisable at end of period (in shares) | 6,950,992 |
Weighted average exercise price | ' |
Options outstanding at beginning of period (in dollars per shares) | $23.87 |
Options granted (in dollars per shares) | $39.07 |
Options cancelled/forfeited (in dollars per share) | $29.27 |
Options exercised (in dollars per shares) | $20.84 |
Options outstanding at end of period (in dollars per shares) | $28.18 |
Options exercisable at end of period (in dollars per shares) | $20.04 |
Weighted average remaining contractual term, in years | ' |
Options outstanding at end of period | '4 years 9 months 18 days |
Options exercisable at end of period | '3 years 4 months 24 days |
Total intrinsic value of awards exercised (in millions): | ' |
Options outstanding at end of period | 199.9 |
Options exercisable at end of period | 145.8 |
Performance Stock Appreciation Rights (PSARs) [Member] | Class A Ordinary Shares [Member] | ' |
Number of shares | ' |
Options outstanding at beginning of period (in shares) | 2,817,498 |
Options granted (in shares) | 10,000 |
Options cancelled/forfeited (in shares) | -10,209 |
Options exercised (in shares) | -6,248 |
Options outstanding at end of period (in shares) | 2,811,041 |
Options exercisable at end of period (in shares) | 7,291 |
Weighted average exercise price | ' |
Options outstanding at beginning of period (in dollars per shares) | $35.07 |
Options granted (in dollars per shares) | $43.58 |
Options cancelled/forfeited (in dollars per share) | $35.03 |
Options exercised (in dollars per shares) | $35.03 |
Options outstanding at end of period (in dollars per shares) | $35.10 |
Options exercisable at end of period (in dollars per shares) | $35.03 |
Weighted average remaining contractual term, in years | ' |
Options outstanding at end of period | '5 years 8 months 12 days |
Options exercisable at end of period | '2 years |
Total intrinsic value of awards exercised (in millions): | ' |
Options outstanding at end of period | 20.9 |
Options exercisable at end of period | 0.1 |
Performance Stock Appreciation Rights (PSARs) [Member] | Class C Ordinary Shares [Member] | ' |
Number of shares | ' |
Options outstanding at beginning of period (in shares) | 8,452,494 |
Options granted (in shares) | 30,000 |
Options cancelled/forfeited (in shares) | -30,626 |
Options exercised (in shares) | -18,744 |
Options outstanding at end of period (in shares) | 8,433,124 |
Options exercisable at end of period (in shares) | 21,874 |
Weighted average exercise price | ' |
Options outstanding at beginning of period (in dollars per shares) | $33.44 |
Options granted (in dollars per shares) | $43.03 |
Options cancelled/forfeited (in dollars per share) | $33.41 |
Options exercised (in dollars per shares) | $33.41 |
Options outstanding at end of period (in dollars per shares) | $33.48 |
Options exercisable at end of period (in dollars per shares) | $33.86 |
Weighted average remaining contractual term, in years | ' |
Options outstanding at end of period | '5 years 8 months 12 days |
Options exercisable at end of period | '2 years |
Total intrinsic value of awards exercised (in millions): | ' |
Options outstanding at end of period | 63.6 |
Options exercisable at end of period | $0.20 |
Sharebased_Compensation_Other_
Share-based Compensation (Other than Options Award Activity) (Details) (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Restricted Stock Units (RSUs) [Member] | ' | ' |
Weighted average grant-date fair value per share of awards granted: | ' | ' |
Granted (in dollars per shares) | $39.77 | $35.74 |
Restricted Stock Units (RSUs) [Member] | Class A Ordinary Shares [Member] | ' | ' |
Number of shares | ' | ' |
Outstanding at beginning of period (in shares) | 725,676 | ' |
Granted (in shares) | 207,408 | ' |
Forfeited (in shares) | -39,038 | ' |
Released from restrictions (in shares) | -269,816 | ' |
Outstanding at end of period (in shares) | 624,230 | ' |
Weighted average grant-date fair value per share of awards granted: | ' | ' |
Outstanding at beginning of period (in dollars per shares) | $35.48 | ' |
Granted (in dollars per shares) | $40.98 | ' |
Forfeited (in dollars per shares) | $32.53 | ' |
Released from restrictions (in dollars per shares) | $34.66 | ' |
Outstanding at end of period (in dollars per shares) | $37.72 | ' |
Weighted average remaining contractual term, in years | ' | ' |
Outstanding at end of period | '4 years 9 months 18 days | ' |
Restricted Stock Units (RSUs) [Member] | Class C Ordinary Shares [Member] | ' | ' |
Number of shares | ' | ' |
Outstanding at beginning of period (in shares) | 1,944,468 | ' |
Granted (in shares) | 414,816 | ' |
Forfeited (in shares) | -110,193 | ' |
Released from restrictions (in shares) | -721,392 | ' |
Outstanding at end of period (in shares) | 1,527,699 | ' |
Weighted average grant-date fair value per share of awards granted: | ' | ' |
Outstanding at beginning of period (in dollars per shares) | $32.79 | ' |
Granted (in dollars per shares) | $39.17 | ' |
Forfeited (in dollars per shares) | $30.31 | ' |
Released from restrictions (in dollars per shares) | $31.96 | ' |
Outstanding at end of period (in dollars per shares) | $34.98 | ' |
Weighted average remaining contractual term, in years | ' | ' |
Outstanding at end of period | '4 years 8 months 12 days | ' |
PSUs / PGUs [Member] | ' | ' |
Weighted average grant-date fair value per share of awards granted: | ' | ' |
Granted (in dollars per shares) | $42.47 | $34.94 |
PSUs / PGUs [Member] | Class A Ordinary Shares [Member] | ' | ' |
Number of shares | ' | ' |
Outstanding at beginning of period (in shares) | 924,648 | ' |
Granted (in shares) | 1,518,276 | ' |
Performance adjustment (in shares) | -138,668 | ' |
Forfeited (in shares) | -21,564 | ' |
Released from restrictions (in shares) | -273,570 | ' |
Outstanding at end of period (in shares) | 2,009,122 | ' |
Weighted average grant-date fair value per share of awards granted: | ' | ' |
Outstanding at beginning of period (in dollars per shares) | $32.05 | ' |
Granted (in dollars per shares) | $42.74 | ' |
Performance adjustment (in dollars per shares) | $26.17 | ' |
Forfeited (in dollars per shares) | $32.89 | ' |
Released from restrictions (in dollars per shares) | $26.23 | ' |
Outstanding at end of period (in dollars per shares) | $41.32 | ' |
Weighted average remaining contractual term, in years | ' | ' |
Outstanding at end of period | '2 years | ' |
PSUs / PGUs [Member] | Class B Ordinary Shares [Member] | ' | ' |
Number of shares | ' | ' |
Outstanding at beginning of period (in shares) | 0 | ' |
Granted (in shares) | 1,000,000 | ' |
Outstanding at end of period (in shares) | 1,000,000 | ' |
Weighted average grant-date fair value per share of awards granted: | ' | ' |
Outstanding at beginning of period (in dollars per shares) | $0 | ' |
Granted (in dollars per shares) | $44.55 | ' |
Outstanding at end of period (in dollars per shares) | $44.55 | ' |
Weighted average remaining contractual term, in years | ' | ' |
Outstanding at end of period | '2 years 6 months | ' |
PSUs / PGUs [Member] | Class C Ordinary Shares [Member] | ' | ' |
Number of shares | ' | ' |
Outstanding at beginning of period (in shares) | 2,744,452 | ' |
Granted (in shares) | 1,048,614 | ' |
Performance adjustment (in shares) | -416,004 | ' |
Forfeited (in shares) | -64,692 | ' |
Released from restrictions (in shares) | -820,710 | ' |
Outstanding at end of period (in shares) | 2,491,660 | ' |
Weighted average grant-date fair value per share of awards granted: | ' | ' |
Outstanding at beginning of period (in dollars per shares) | $29.99 | ' |
Granted (in dollars per shares) | $39.83 | ' |
Performance adjustment (in dollars per shares) | $24.73 | ' |
Forfeited (in dollars per shares) | $30.77 | ' |
Released from restrictions (in dollars per shares) | $24.78 | ' |
Outstanding at end of period (in dollars per shares) | $36.70 | ' |
Weighted average remaining contractual term, in years | ' | ' |
Outstanding at end of period | '1 year 6 months | ' |
Restructuring_Liability_Detail
Restructuring Liability (Details) (USD $) | 9 Months Ended | 3 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Mar. 31, 2014 |
Employee severance and termination [Member] | Office closures [Member] | Contract termination and other [Member] | Telenet [Member] | ||
Restructuring Reserve [Roll Forward] | ' | ' | ' | ' | ' |
Restructuring liability as of January 1, 2014 | $113.50 | $26.60 | $14.90 | $72 | ' |
Restructuring charges | 137.4 | 34.5 | 9.3 | 93.6 | 86.1 |
Cash paid | -83.6 | -44.9 | -10.2 | -28.5 | ' |
Foreign currency translation adjustments and other | -14.9 | 0.6 | -0.5 | -15 | ' |
Restructuring liability as of September 30, 2014 | 152.4 | 16.8 | 13.5 | 122.1 | ' |
Current portion | 49.6 | 16.7 | 12.1 | 20.8 | ' |
Noncurrent portion | 102.8 | 0.1 | 1.4 | 101.3 | ' |
Total | $152.40 | $16.80 | $13.50 | $122.10 | ' |
Earnings_or_Loss_per_Ordinary_2
Earnings or Loss per Ordinary Share Schedule of calculations of our basic and diluted earnings per share (EPS) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Numerator: | ' | ' | ' | ' |
Net earnings (loss) attributable to Liberty Global shareholders (basic and diluted EPS computation) | $157.10 | ($830.10) | ($171.60) | ($842.70) |
Denominator: | ' | ' | ' | ' |
Weighted average common shares (basic EPS computation) (in shares) | 779,708,147 | 796,152,814 | 784,112,867 | 632,698,780 |
Incremental shares attributable to the assumed exercise of outstanding options and SARs and the release of restricted shares and share units upon vesting (treasury stock method) (in shares) | 10,378,194 | 0 | 0 | 0 |
Weighted average common shares (diluted EPS computation) (in shares) | 790,086,341 | 796,152,814 | 784,112,867 | 632,698,780 |
Earnings_or_Loss_per_Ordinary_3
Earnings or Loss per Ordinary Share (Narrative) (Details) | 3 Months Ended | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
Stock Options, SARs, PSARs, Restricted Shares, and RSUs [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Aggregate number of shares excluded from computation of EPS | 10.7 | 42.2 | 44.8 |
PSUs and PGUs [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Aggregate number of shares excluded from computation of EPS | 5.5 | ' | 4 |
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 | 2.6 | 2.6 | 2.6 |
Earnings_or_Loss_per_Ordinary_4
Earnings or Loss per Ordinary Share (Net Earnings (Loss) Attributable to Liberty Global Shareholders) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Amounts attributable to Liberty Global shareholders: | ' | ' | ' | ' |
Earnings (loss) from discontinued operation | $0 | ($10.80) | $333.50 | ($13.20) |
Net earnings (loss) attributable to Liberty Global shareholders | 157.1 | -830.1 | -171.6 | -842.7 |
Parent Company [Member] | ' | ' | ' | ' |
Amounts attributable to Liberty Global shareholders: | ' | ' | ' | ' |
Loss from continuing operations | 157.1 | -818.5 | -505.1 | -828.4 |
Earnings (loss) from discontinued operation | 0 | -11.6 | 333.5 | -14.3 |
Net earnings (loss) attributable to Liberty Global shareholders | $157.10 | ($830.10) | ($171.60) | ($842.70) |
Commitments_and_Contingencies_1
Commitments and Contingencies (Unrecorded Purchase Obligation) (Details) (USD $) | Sep. 30, 2014 |
In Millions, unless otherwise specified | |
Unrecorded Unconditional Purchase Obligation [Line Items] | ' |
Remainder of 2014 | $1,039.80 |
2015 | 1,896.50 |
2016 | 1,413.60 |
2017 | 1,109.50 |
2018 | 789.9 |
2019 | 418.3 |
Thereafter | 1,378.30 |
Total | 8,045.90 |
Programming Commitments [Member] | ' |
Unrecorded Unconditional Purchase Obligation [Line Items] | ' |
Remainder of 2014 | 245.6 |
2015 | 809.4 |
2016 | 724 |
2017 | 570.4 |
2018 | 488.8 |
2019 | 231.1 |
Thereafter | 0 |
Total | 3,069.30 |
Network and Connectivity Commitments [Member] | ' |
Unrecorded Unconditional Purchase Obligation [Line Items] | ' |
Remainder of 2014 | 100.3 |
2015 | 334 |
2016 | 271.8 |
2017 | 247.4 |
2018 | 129.8 |
2019 | 93 |
Thereafter | 1,093.60 |
Total | 2,269.90 |
Purchase Commitments [Member] | ' |
Unrecorded Unconditional Purchase Obligation [Line Items] | ' |
Remainder of 2014 | 514.6 |
2015 | 278 |
2016 | 94.8 |
2017 | 44.4 |
2018 | 10.8 |
2019 | 4.5 |
Thereafter | 0 |
Total | 947.1 |
Operating Leases [Member] | ' |
Unrecorded Unconditional Purchase Obligation [Line Items] | ' |
Remainder of 2014 | 46.2 |
2015 | 156.2 |
2016 | 128.2 |
2017 | 104.7 |
2018 | 71.2 |
2019 | 54.2 |
Thereafter | 249.7 |
Total | 810.4 |
Other Commitments [Member] | ' |
Unrecorded Unconditional Purchase Obligation [Line Items] | ' |
Remainder of 2014 | 133.1 |
2015 | 318.9 |
2016 | 194.8 |
2017 | 142.6 |
2018 | 89.3 |
2019 | 35.5 |
Thereafter | 35 |
Total | $949.20 |
Commitments_and_Contingencies_2
Commitments and Contingencies (Narrative) (Details) | Sep. 30, 2014 | Sep. 30, 2014 | Nov. 26, 2007 | Dec. 31, 2012 | Dec. 31, 2012 | Jan. 17, 2013 | Jan. 17, 2013 | Sep. 30, 2014 | Oct. 04, 2013 | Apr. 02, 2013 | Jan. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | Interkabel Acquisition [Member] | Interkabel Acquisition [Member] | Interkabel Acquisition [Member] | Deutsche Telekom Litigation [Member] | Deutsche Telekom Litigation [Member] | Vivendi Litigation [Member] | Vivendi Litigation [Member] | Belgium Regulatory Developments [Member] | Belgium Regulatory Developments [Member] | Belgium Regulatory Developments [Member] | FCO Regulatory Issues [Member] | FCO Regulatory Issues [Member] | Financial Transactions Tax [Member] | Financial Transactions Tax [Member] | Financial Transactions Tax [Member] | Virgin Media VAT Matters [Member] | Virgin Media VAT Matters [Member] | Other Regulatory Issues [Member] | Other Regulatory Issues [Member] | Broadband Communications and DHT Operations [Member] | Broadband Communications and DHT Operations [Member] |
USD ($) | EUR (€) | association | USD ($) | EUR (€) | USD ($) | EUR (€) | competitor | country | Minimum [Member] | Maximum [Member] | USD ($) | GBP (£) | USD ($) | CLP | USD ($) | USD ($) | |||||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Programming costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,586.40 | $1,097.90 |
Number of associations of municipalities in Belgium | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss contingency damages in excess value | 25.3 | 20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Damages sought | ' | ' | ' | 96 | 76 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reduction of annual lease fees | ' | ' | ' | 66.67% | 66.67% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Subsidiary interest in recovery | ' | ' | ' | ' | ' | 10.00% | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Damages awarded | ' | ' | ' | ' | ' | 1,192 | 944 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term regulated wholesale services must be available after approval of reference offers | ' | ' | ' | ' | ' | ' | ' | '6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retail-Minus Tariffs for Basic TV | ' | ' | ' | ' | ' | ' | ' | ' | 30.00% | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retail-Minus Tariffs for Bundle of Basic TV and Broadband Internet Services | ' | ' | ' | ' | ' | ' | ' | ' | 23.00% | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Competitors of German Cable Business | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Duration of Contracts With Multiple Dwelling Units in Question of Antitrust Laws | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Participating Countries in Financial Transaction Tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11 | ' | ' | ' | ' | ' | ' | ' | ' |
Financial Transactions Tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.01% | 0.10% | ' | ' | ' | ' | ' | ' |
Minimum range of possible loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $63.70 | £ 39.3 | $11.20 | 6,700 | ' | ' |
Segment_Reporting_Narrative_De
Segment Reporting (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2014 | |
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 European Operations Division [Member] | ' |
Segment Reporting Information [Line Items] | ' |
Number of European countries in operating segment (in countries) | 12 |
Telenet 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, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | $4,497.20 | $4,276.50 | $13,633.10 | $10,006.20 |
Operating cash flow | 2,110.60 | 1,988.60 | 6,383 | 4,688.70 |
European Operations Division Virgin Media (U.K.) [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 1,747 | 1,587.40 | 5,249.50 | 1,988.70 |
Operating cash flow | 755.9 | 663 | 2,264.80 | 838.3 |
European Operations Division Germany (Unitymedia KabelBW) [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 671.7 | 641.3 | 2,056.40 | 1,884.10 |
Operating cash flow | 417.5 | 391.2 | 1,277.50 | 1,120.60 |
European Operations Division Belgium (Telenet) [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 575.7 | 545.6 | 1,732.30 | 1,616.20 |
Operating cash flow | 287.9 | 275.4 | 877.9 | 792.1 |
European Operations Division Netherlands [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 301.6 | 305.4 | 936 | 923.4 |
Operating cash flow | 175.1 | 176.3 | 543.5 | 532.2 |
European Operations Division Switzerland [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 353.2 | 332.1 | 1,071.30 | 982 |
Operating cash flow | 213.3 | 200.8 | 639.3 | 572.2 |
European Operations Division Other Western Europe [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 223.8 | 223.5 | 687.9 | 665.7 |
Operating cash flow | 115.4 | 113.8 | 343.4 | 324.2 |
European Operations Division Total Western Europe [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 3,873 | 3,635.30 | 11,733.40 | 8,060.10 |
Operating cash flow | 1,965.10 | 1,820.50 | 5,946.40 | 4,179.60 |
European Operations Division Central and Eastern Europe [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 279.8 | 279.1 | 859.7 | 848.4 |
Operating cash flow | 135 | 131.9 | 418.9 | 407.6 |
European Operations Division Central and Other [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 34.7 | 33.4 | 101.2 | 96.7 |
Operating cash flow | -63 | -44.5 | -184.3 | -144.5 |
Total European Operations Division [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 4,187.50 | 3,947.80 | 12,694.30 | 9,005.20 |
Operating cash flow | 2,037.10 | 1,907.90 | 6,181 | 4,442.70 |
VTR Group (Chile) [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 223.7 | 244.8 | 678.8 | 747.9 |
Operating cash flow | 86.6 | 84.5 | 255.1 | 256.5 |
Corporate and Other [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 95.3 | 93.4 | 282.6 | 280.9 |
Operating cash flow | -13.1 | -15.2 | -57.1 | -44.6 |
Intersegment eliminations [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | -9.3 | -9.5 | -22.6 | -27.8 |
Operating cash flow | $0 | $11.40 | $4 | $34.10 |
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, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Segment Reporting, Measurement Disclosures [Abstract] | ' | ' | ' | ' |
Total segment operating cash flow from continuing operations | $2,110.60 | $1,988.60 | $6,383 | $4,688.70 |
Share-based compensation expense | -73.1 | -98.2 | -182.6 | -217.9 |
Depreciation and amortization | -1,313.50 | -1,381.30 | -4,084 | -2,921.70 |
Release of litigation provision | 0 | 146 | 0 | 146 |
Impairment, restructuring and other operating items, net | -20.3 | -133.9 | -161.5 | -200.6 |
Operating income | 703.7 | 521.2 | 1,954.90 | 1,494.50 |
Interest expense | -617.3 | -630 | -1,912.60 | -1,643.90 |
Interest and dividend income | 13.2 | 62 | 29.2 | 110.7 |
Realized and unrealized gains (losses) on derivative instruments, net | 527.9 | -875.4 | -177.3 | -683.3 |
Foreign currency transaction gains (losses), net | -375.8 | 258 | -433 | 213 |
Realized and unrealized gains due to changes in fair values of certain investments, net | 92.2 | 80.8 | 189.4 | 345.4 |
Losses on debt modification and extinguishment, net | -9.6 | -0.7 | -83.5 | -170.7 |
Other expense, net | -13 | -3.5 | -17.4 | -6.7 |
Earnings (loss) from continuing operations before income taxes | $321.30 | ($587.60) | ($450.30) | ($341) |
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, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | $4,497.20 | $4,276.50 | $13,633.10 | $10,006.20 |
Video [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 1,600.60 | 1,599.60 | 4,903.30 | 4,087.10 |
Broadband Internet [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 1,172 | 1,023.70 | 3,502.10 | 2,448.20 |
Telephony [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 795.1 | 768.5 | 2,447.90 | 1,696.60 |
Cable Subscription [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 3,567.70 | 3,391.80 | 10,853.30 | 8,231.90 |
Mobile [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 281.6 | 244.7 | 812 | 417.2 |
Total Subscription [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 3,849.30 | 3,636.50 | 11,665.30 | 8,649.10 |
Business to Business [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 379.8 | 343.7 | 1,129.80 | 629.9 |
Other Category [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 268.1 | 296.3 | 838 | 727.2 |
Mobile Interconnect [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 60.4 | 56.3 | 184.2 | 113 |
SOHO Cable Subscription [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | $50.30 | $37.90 | $146.50 | $106 |
Segment_Reporting_Geographic_S
Segment Reporting (Geographic Segments) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | $4,497.20 | $4,276.50 | $13,633.10 | $10,006.20 |
European Operations Division United Kingdom [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 1,747 | 1,587.40 | 5,249.50 | 1,988.70 |
European Operations Division Germany [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 671.7 | 641.3 | 2,056.40 | 1,884.10 |
European Operations Division Belgium [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 575.7 | 545.6 | 1,732.30 | 1,616.20 |
European Operations Division Switzerland [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 353.2 | 332.1 | 1,071.30 | 982 |
European Operations Division Netherlands [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 301.6 | 305.4 | 936 | 923.4 |
European Operations Division Ireland [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 116.9 | 110.9 | 358.6 | 340.6 |
European Operations Division Poland [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 116.4 | 115.2 | 358.1 | 341.9 |
European Operations Division Austria [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 107.4 | 108.3 | 329.8 | 323.8 |
European Operations Division Hungary [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 62.2 | 63.7 | 191.6 | 190.9 |
European Operations Division Czech Republic [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 47.4 | 54 | 149.4 | 166.1 |
European Operations Division Romania [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 37.7 | 34.7 | 111.9 | 103.6 |
European Operations Division Slovakia [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 15.6 | 15.8 | 48.2 | 47.2 |
European Operations Division Other Europe [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 34.7 | 33.4 | 101.2 | 96.7 |
Total European Operations Division [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 4,187.50 | 3,947.80 | 12,694.30 | 9,005.20 |
Chile | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 223.7 | 244.8 | 678.8 | 747.9 |
Puerto Rico | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | 76.3 | 74.7 | 227.6 | 221.9 |
Other, including intersegment eliminations | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total revenue | $9.70 | $9.20 | $32.40 | $31.20 |
Subsequent_Events_Details
Subsequent Events (Details) | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Oct. 07, 2014 | Oct. 07, 2014 | Oct. 07, 2014 | Oct. 07, 2014 | Oct. 07, 2014 | Oct. 07, 2014 | Oct. 07, 2014 | Oct. 07, 2014 | Oct. 07, 2014 | Oct. 22, 2014 | Oct. 22, 2014 | Oct. 07, 2014 | Oct. 22, 2014 | Oct. 22, 2014 |
Virgin Media Finance [Member] | Virgin Media Finance [Member] | Virgin Media Finance [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |
VM Senior Notes [Member] | VM Senior Notes [Member] | 2024 VM Senior Notes [Member] | Virgin Media Finance [Member] | Virgin Media Finance [Member] | Virgin Media Finance [Member] | Virgin Media Finance [Member] | Virgin Media Finance [Member] | Virgin Media Finance [Member] | Virgin Media Finance [Member] | Virgin Media Finance [Member] | Virgin Media Finance [Member] | UnityMedia KabelBW [Member] | UnityMedia KabelBW [Member] | UnityMedia KabelBW [Member] | UnityMedia KabelBW [Member] | UnityMedia KabelBW [Member] | |
USD ($) | GBP (£) | 2024 VM Sterling Senior Notes [Member] | 2024 VM Sterling Senior Notes [Member] | 2024 VM Dollar Senior Notes [Member] | VM Dollar Senior Notes, 2019 [Member] | VM Sterling Senior Notes, 2019 [Member] | VM Sterling Senior Notes, 2019 [Member] | VM Senior Notes [Member] | VM Senior Notes [Member] | 2024 VM Senior Notes [Member] | 2025 UM Senior Notes [Member] | 2025 UM Senior Notes [Member] | 2025 UM Senior Notes [Member] | 2019 UM Senior Notes [Member] | 2019 UM Senior Notes [Member] | ||
USD ($) | GBP (£) | USD ($) | USD ($) | USD ($) | GBP (£) | USD ($) | GBP (£) | USD ($) | EUR (€) | USD ($) | EUR (€) | ||||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of debt | ' | ' | ' | $486,600,000 | £ 300,000,000 | $500,000,000 | ' | ' | ' | ' | ' | ' | $900,000,000 | ' | ' | ' | ' |
Interest rate | ' | ' | ' | 6.38% | 6.38% | 6.00% | 8.38% | 8.88% | 8.88% | ' | ' | ' | 6.13% | 6.13% | ' | 9.63% | 9.63% |
Debt redemption amount | ' | ' | ' | ' | ' | ' | 507,100,000 | 411,200,000 | 253,500,000 | ' | ' | ' | ' | ' | ' | 839,900,000 | 665,000,000 |
Debt acceleration covenant threshold for event of default | $121,700,000 | £ 75,000,000 | ' | ' | ' | ' | ' | ' | ' | $121,700,000 | £ 75,000,000 | ' | $94,700,000 | € 75,000,000 | ' | ' | ' |
Additional basis points used to determine redemption premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | 50.00% | 50.00% | ' | ' | ' |
Mandatory redemption price on senior Notes in event that certain assets sold or specific control changed | ' | ' | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.00% | 101.00% | ' | ' | ' |
2019 | ' | ' | ' | 103.19% | 103.19% | 103.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2020 | ' | ' | ' | 102.13% | 102.13% | 102.00% | ' | ' | ' | ' | ' | ' | ' | ' | 103.06% | ' | ' |
2021 | ' | ' | ' | 101.06% | 101.06% | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | 102.04% | ' | ' |
2022 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.02% | ' | ' |
2022 and thereafter | ' | ' | ' | 100.00% | 100.00% | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2023 and thereafter | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' |