Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2015 | Apr. 30, 2015 | |
Entity Information [Line Items] | ||
Entity Registrant Name | Liberty Global plc | |
Entity Central Index Key | 1570585 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | FALSE | |
Class A Ordinary Shares [Member] | ||
Entity Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 252,066,702 | |
Class B Ordinary Shares [Member] | ||
Entity Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 10,472,517 | |
Class C Ordinary Shares [Member] | ||
Entity Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 619,261,384 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Current assets: | ||
Cash and cash equivalents | $630.40 | $1,158.50 |
Trade receivables, net | 1,307.80 | 1,499.50 |
Derivative instruments (note 4) | 230.9 | 446.6 |
Deferred income taxes | 304.4 | 290.3 |
Prepaid expenses | 224.8 | 189.7 |
Other current assets | 263.2 | 335.9 |
Total current assets | 2,961.50 | 3,920.50 |
Investments (including $1,804.4 million and $1,662.7 million, respectively, measured at fair value) | 2,032.90 | 1,808.20 |
Property and equipment, net (note 6) | 21,821.90 | 23,840.60 |
Goodwill (note 6) | 26,930.10 | 29,001.60 |
Intangible assets subject to amortization, net (note 6) | 7,917.50 | 9,189.80 |
Other assets, net (note 4) | 6,016.90 | 5,081.20 |
Total assets | 67,680.80 | 72,841.90 |
Current liabilities: | ||
Accounts payable | 1,072.40 | 1,039 |
Deferred revenue and advance payments from subscribers and others | 1,479.90 | 1,452.20 |
Current portion of debt and capital lease obligations (note 7) | 1,292.80 | 1,550.90 |
Accrued interest | 578.6 | 690.6 |
Derivative instruments (note 4) | 390.8 | 1,043.70 |
Other accrued and current liabilities (note 11) | 3,028.40 | 3,413.90 |
Total current liabilities | 7,842.90 | 9,190.30 |
Long-term debt and capital lease obligations (note 7) | 42,790.50 | 44,608.10 |
Other long-term liabilities (notes 4 and 11) | 4,671.10 | 4,927.50 |
Total liabilities | 55,304.50 | 58,725.90 |
Commitments and contingencies (notes 3, 4, 7, 8, 13 and 15) | ||
Liberty Global shareholders: | ||
Additional paid-in capital | 16,540.70 | 17,070.80 |
Accumulated deficit | -4,545.10 | -4,007.60 |
Accumulated other comprehensive earnings, net of taxes | 954 | 1,646.60 |
Treasury shares, at cost | -3.8 | -4.2 |
Total Liberty Global shareholders | 12,954.60 | 14,714.50 |
Noncontrolling interests | -578.3 | -598.5 |
Total equity | 12,376.30 | 14,116 |
Total liabilities and equity | 67,680.80 | 72,841.90 |
Class A ordinary shares, $0.01 nominal value. Issued and outstanding 252,025,447 and 251,167,686 shares, respectively | ||
Liberty Global shareholders: | ||
Common stock | 2.5 | 2.5 |
Class B ordinary shares, $0.01 nominal value. Issued and outstanding 10,472,517 and 10,139,184 shares, respectively | ||
Liberty Global shareholders: | ||
Common stock | 0.1 | 0.1 |
Class C ordinary shares, $0.01 nominal value. Issued and outstanding 622,180,578 and 630,353,372 shares, respectively | ||
Liberty Global shareholders: | ||
Common stock | $6.20 | $6.30 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, except Share data, unless otherwise specified | ||
Investments, fair value | $1,804.40 | $1,662.70 |
Class A Ordinary Shares [Member] | ||
Common stock, nominal value (in dollars per share) | $0.01 | $0.01 |
Common stock, issued (in shares) | 252,025,447 | 251,167,686 |
Common stock, outstanding (in shares) | 252,025,447 | 251,167,686 |
Class B Ordinary Shares [Member] | ||
Common stock, nominal value (in dollars per share) | $0.01 | $0.01 |
Common stock, issued (in shares) | 10,472,517 | 10,139,184 |
Common stock, outstanding (in shares) | 10,472,517 | 10,139,184 |
Class C Ordinary Shares [Member] | ||
Common stock, nominal value (in dollars per share) | $0.01 | $0.01 |
Common stock, issued (in shares) | 622,180,578 | 630,353,372 |
Common stock, outstanding (in shares) | 622,180,578 | 630,353,372 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | |
In Millions, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Income Statement [Abstract] | ||
Revenue (note 14) | $4,516.90 | $4,533.70 |
Operating costs and expenses: | ||
Operating (other than depreciation and amortization) (including share-based compensation) (note 10) | 1,685.90 | 1,698.80 |
Selling, general and administrative (SG&A) (including share-based compensation) (note 10) | 805.1 | 762.5 |
Depreciation and amortization | 1,451.40 | 1,377.10 |
Impairment, restructuring and other operating items, net (note 11) | 17 | 113.6 |
Operating costs and expenses, Total | 3,959.40 | 3,952 |
Operating income | 557.5 | 581.7 |
Non-operating income (expense): | ||
Interest expense | -615.9 | -653.5 |
Realized and unrealized gains (losses) on derivative instruments, net (note 4) | 618.5 | -376.6 |
Foreign currency transaction losses, net | -1,035.60 | -20.8 |
Realized and unrealized gains (losses) due to changes in fair values of certain investments, net (note 5) | 151.4 | -60.2 |
Losses on debt modification and extinguishment, net (note 7) | -274.5 | -20.9 |
Other income (expense), net | -1 | 13.3 |
Non-operating income (expense), Total | -1,157.10 | -1,118.70 |
Loss from continuing operations before income taxes | -599.6 | -537 |
Income tax benefit (note 8) | 77.9 | 117 |
Loss from continuing operations | -521.7 | -420 |
Discontinued operation (note 1): | ||
Earnings from discontinued operation, net of taxes | 0 | 0.8 |
Gain on disposal of discontinued operation, net of taxes | 0 | 339.9 |
Income (loss) on discontinued operation, Total | 0 | 340.7 |
Net loss | -521.7 | -79.3 |
Net loss (earnings) attributable to noncontrolling interests | -15.8 | 0.5 |
Net loss attributable to Liberty Global shareholders | ($537.50) | ($78.80) |
Basic and diluted earnings (loss) attributable to Liberty Global shareholders per share (note 12): | ||
Continuing operations (in dollars per share) | ($0.61) | ($0.53) |
Discontinued operation (in dollars per share) | $0 | $0.43 |
Basic and diluted earnings (loss) attributable to Liberty Global shareholders per share (in dollars per share) | ($0.61) | ($0.10) |
Weighted average ordinary shares outstanding b basic and diluted (in shares) | 887,264,545 | 787,737,909 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Earnings (Loss) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Statement of Comprehensive Income [Abstract] | ||
Net loss | ($521.70) | ($79.30) |
Other comprehensive earnings (loss), net of taxes: | ||
Foreign currency translation adjustments | -691.1 | 58.1 |
Reclassification adjustments included in net loss | 0.1 | 64.1 |
Other | -1.5 | 0 |
Other comprehensive earnings (loss) | -692.5 | 122.2 |
Comprehensive earnings (loss) | -1,214.20 | 42.9 |
Comprehensive loss (earnings) attributable to noncontrolling interests | -15.9 | 0.5 |
Comprehensive earnings (loss) attributable to Liberty Global shareholders | ($1,230.10) | $43.40 |
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, 2014 | $14,116 | $17,070.80 | ($4,007.60) | $1,646.60 | ($4.20) | $14,714.50 | ($598.50) | $2.50 | $0.10 | $6.30 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Net loss | -521.7 | -537.5 | -537.5 | 15.8 | ||||||
Other comprehensive loss, net of taxes | -692.5 | -692.6 | -692.6 | 0.1 | ||||||
Repurchase and cancellation of Liberty Global ordinary shares | -478.1 | -478 | -478.1 | -0.1 | ||||||
Liberty Global call option contracts | -71.6 | -71.6 | -71.6 | |||||||
Share-based compensation (note 10) | 57 | 57 | 57 | |||||||
Adjustments due to changes in subsidiariesb equity and other, net | -32.8 | -37.5 | 0.4 | -37.1 | 4.3 | |||||
Ending balance at Mar. 31, 2015 | $12,376.30 | $16,540.70 | ($4,545.10) | $954 | ($3.80) | $12,954.60 | ($578.30) | $2.50 | $0.10 | $6.20 |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements of Cash Flows (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Cash flows from operating activities: | ||
Net loss | ($521.70) | ($79.30) |
Earnings from discontinued operation | 0 | -340.7 |
Loss from continuing operations | -521.7 | -420 |
Adjustments to reconcile loss from continuing operations to net cash provided by operating activities: | ||
Share-based compensation expense | 71.4 | 55.1 |
Depreciation and amortization | 1,451.40 | 1,377.10 |
Impairment, restructuring and other operating items, net | 17 | 113.6 |
Amortization of deferred financing costs and non-cash interest accretion | 18.5 | 22 |
Realized and unrealized losses (gains) on derivative instruments, net | -618.5 | 376.6 |
Foreign currency transaction losses, net | 1,035.60 | 20.8 |
Realized and unrealized losses (gains) due to changes in fair values of certain investments, net | -151.4 | 60.2 |
Losses on debt modification and extinguishment, net | 274.5 | 20.9 |
Deferred income tax benefit | -187.2 | -184.2 |
Excess tax benefit from share-based compensation | -20 | 0 |
Changes in operating assets and liabilities, net of the effects of acquisitions and dispositions | 4.3 | -121.7 |
Net cash used by operating activities of discontinued operation | 0 | -9.6 |
Net cash provided by operating activities | 1,373.90 | 1,310.80 |
Cash flows from investing activities: | ||
Capital expenditures | -661.2 | -735 |
Investments in and loans to affiliates and others | -122.7 | -9.1 |
Proceeds received upon disposition of discontinued operation, net of disposal costs | 0 | 993 |
Other investing activities, net | 8.9 | -17.2 |
Net cash used by investing activities of discontinued operation | 0 | -3.8 |
Net cash provided (used) by investing activities | -775 | 227.9 |
Cash flows from financing activities: | ||
Borrowings of debt | 6,695.20 | 1,547.80 |
Repayments and repurchases of debt and capital lease obligations | -6,543 | -2,051.60 |
Net cash paid related to derivative instruments | -486.5 | -98.2 |
Repurchase of Liberty Global shares | -425.9 | -376.8 |
Payment of financing costs and debt premiums | -269.8 | -39.1 |
Net cash paid associated with call option contracts on Liberty Global shares | -122.9 | -156 |
Change in cash collateral | 61.8 | 4.4 |
Other financing activities, net | -19.5 | 7.2 |
Net cash used by financing activities of discontinued operation | 0 | -1.2 |
Net cash used by financing activities | -1,110.60 | -1,163.50 |
Effect of exchange rate changes on cash b continuing operations | -16.4 | 15 |
Net increase (decrease) in cash and cash equivalents: | ||
Continuing operations | -528.1 | 404.8 |
Discontinued operation | 0 | -14.6 |
Net increase (decrease) in cash and cash equivalents | -528.1 | 390.2 |
Cash and cash equivalents: | ||
Beginning of period | 1,158.50 | 2,701.90 |
End of period | 630.4 | 3,092.10 |
Cash paid for interest b continuing operations | 672.4 | 631.1 |
Net cash paid for taxes: | ||
Net cash paid for taxes: | 123 | 32.5 |
Discontinued operation | 0 | 0.9 |
Total | $123 | $33.40 |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2015 | |
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. In these notes, the terms “we,” “our,” “our company” and “us” may refer, as the context requires, to Liberty Global or collectively to Liberty Global and its subsidiaries. | |
We are an international provider of video, broadband internet, fixed-line telephony and mobile services, with consolidated operations at March 31, 2015 in 14 countries. Through Unitymedia GmbH (Unitymedia), formerly known as Unitymedia KabelBW GmbH, and Ziggo Group Holding B.V. (Ziggo Group Holding), each a wholly-owned subsidiary, and Telenet Group Holding NV (Telenet), a 56.8%-owned subsidiary, we provide video, broadband internet, fixed-line telephony and mobile services in Germany, the Netherlands and Belgium, respectively. In addition, through our wholly-owned subsidiary Virgin Media Inc. (Virgin Media), we provide (i) video, broadband internet and fixed-line telephony services in the United Kingdom (U.K.) and Ireland and (ii) mobile services in the U.K. We also provide (a) video, broadband internet and fixed-line telephony services in eight other European countries and (b) mobile services in four other European countries. The operations of Virgin Media, Unitymedia, Ziggo Group Holding, Telenet and our other operations in Europe are collectively referred to herein as the “European Operations Division.” In Chile, we provide video, broadband internet, fixed-line telephony and mobile services through VTR GlobalCom SpA (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 60.0% ownership interest. | |
On January 31, 2014, we completed the sale of substantially all of the assets (the Chellomedia Disposal Group) of Chellomedia B.V. (Chellomedia). Chellomedia held certain of our programming interests in Europe and Latin America. We have accounted for the sale of the Chellomedia Disposal Group as a discontinued operation in our condensed consolidated financial statements. | |
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 2014 consolidated financial statements and notes thereto included in our 2014 Annual Report on Form 10-K. | |
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 March 31, 2015. | |
Certain prior period amounts have been reclassified to conform to the current period presentation. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Changes and Error Corrections [Abstract] | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements |
In May 2014, the Financial Accounting Standards Board (the FASB) 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, currently scheduled for January 1, 2017, although an extension to January 1, 2018 has been proposed by the FASB. 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
Acquisitions | 3 Months Ended | |||
Mar. 31, 2015 | ||||
Business Combinations [Abstract] | ||||
Acquisitions | Acquisitions | |||
Pending 2015 Acquisitions | ||||
On December 9, 2014, one of our subsidiaries, together with investment funds affiliated with Searchlight Capital Partners, L.P. (collectively, Searchlight), entered into an agreement to acquire 100% of the parent of Puerto Rico Cable Acquisition Company Inc., dba Choice Cable TV (Choice), the second largest cable and broadband services provider in Puerto Rico (the Choice Acquisition). The transaction values Choice at an enterprise value, before transaction costs, of approximately $272.5 million. This purchase price is expected to be funded through (i) $257.5 million of committed facilities under Liberty Puerto Rico’s existing bank facility and (ii) equity contributions, related-party loans and/or other existing sources of liquidity. The Choice Acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close in the second quarter of 2015. Upon completion of the Choice Acquisition, Choice’s operations will be combined with those of Liberty Puerto Rico, and the combined business will be 60%-owned by our company and 40%-owned by Searchlight. | ||||
For information regarding a purchase agreement that Telenet entered into subsequent to March 31, 2015, see note 15. | ||||
2014 Acquisition of Ziggo | ||||
On November 11, 2014, pursuant to an Agreement and Plan of Merger with respect to an offer to acquire all of the shares of Ziggo Holding B.V. (Ziggo) that we did not already own, we gained control of Ziggo through the acquisition of 136,603,794 additional Ziggo shares, which increased our ownership interest in Ziggo to 88.9% (the Ziggo Acquisition). From November 12, 2014 through November 19, 2014, we acquired 18,998,057 additional Ziggo shares, further increasing our ownership interest in Ziggo to 98.4% (the Ziggo NCI Acquisition). For accounting purposes, (i) the Ziggo Acquisition was treated as the acquisition of Ziggo by Liberty Global and (ii) the Ziggo NCI Acquisition was treated as the acquisition of a noncontrolling interest. Ziggo is a provider of video, broadband internet, fixed-line telephony and mobile services in the Netherlands. | ||||
In December 2014, we initiated a statutory squeeze-out procedure in accordance with the Dutch Civil Code (the Statutory Squeeze-out) in order to acquire the remaining 3,162,605 Ziggo shares not tendered through November 19, 2014. Under the Statutory Squeeze-out, Ziggo shareholders other than Liberty Global will receive cash consideration of €39.78 ($42.68) per share, which amount was approved in April 2015 by the Enterprise Court in the Netherlands. The Statutory Squeeze-out is expected to be completed during the second quarter of 2015. | ||||
We received regulatory clearance from the European Commission for the Ziggo Acquisition on October 10, 2014. The clearance was conditioned upon our commitment to divest our Film1 channel to a third party and to carry Film1 on our network in the Netherlands for a period of three years. On March 27, 2015, we agreed to sell our Film1 channel to Sony Pictures Television Networks, which sale is subject to customary closing conditions, including regulatory approval. Under the terms of the agreement, all five Film1 channels will continue to be carried on our networks for a period of at least three years. | ||||
Pro Forma Information | ||||
The following unaudited pro forma condensed consolidated operating results for the three months ended March 31, 2014 give effect to the acquisition of 100% of Ziggo as if it had been completed as of January 1, 2014. 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. | ||||
Three months ended March 31, 2014 | ||||
in millions, except per share amount | ||||
Revenue: | ||||
Continuing operations | $ | 5,069.30 | ||
Discontinued operation | 26.6 | |||
Total | $ | 5,095.90 | ||
Net loss attributable to Liberty Global shareholders | $ | (264.7 | ) | |
Basic and diluted loss attributable to Liberty Global shareholders per share | $ | (0.29 | ) |
Derivative_Instruments
Derivative Instruments | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||
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: | ||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | |||||||||||||||||||||||
Current | Long-term (a) | Total | Current | Long-term (a) | Total | |||||||||||||||||||
in millions | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Cross-currency and interest rate derivative contracts (b) | $ | 224.5 | $ | 2,014.60 | $ | 2,239.10 | $ | 443.6 | $ | 913.7 | $ | 1,357.30 | ||||||||||||
Equity-related derivative instruments (c) | — | 389 | 389 | — | 400.2 | 400.2 | ||||||||||||||||||
Foreign currency forward contracts | 5.3 | — | 5.3 | 2.5 | — | 2.5 | ||||||||||||||||||
Other | 1.1 | 1.3 | 2.4 | 0.5 | 0.9 | 1.4 | ||||||||||||||||||
Total | $ | 230.9 | $ | 2,404.90 | $ | 2,635.80 | $ | 446.6 | $ | 1,314.80 | $ | 1,761.40 | ||||||||||||
Liabilities: | ||||||||||||||||||||||||
Cross-currency and interest rate derivative contracts (b) | $ | 362.3 | $ | 1,550.80 | $ | 1,913.10 | $ | 1,027.40 | $ | 1,443.90 | $ | 2,471.30 | ||||||||||||
Equity-related derivative instruments (c) | 13.6 | 178.5 | 192.1 | 15.3 | 73.1 | 88.4 | ||||||||||||||||||
Foreign currency forward contracts | 14.7 | — | 14.7 | 0.8 | — | 0.8 | ||||||||||||||||||
Other | 0.2 | 0.1 | 0.3 | 0.2 | 0.1 | 0.3 | ||||||||||||||||||
Total | $ | 390.8 | $ | 1,729.40 | $ | 2,120.20 | $ | 1,043.70 | $ | 1,517.10 | $ | 2,560.80 | ||||||||||||
_______________ | ||||||||||||||||||||||||
(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 March 31, 2015 and December 31, 2014, (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 $78.1 million and $30.9 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 $90.5 million and $64.6 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 net losses of $16.9 million and $29.5 million during the three months ended March 31, 2015 and 2014, 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 regarding our fair value measurements, see note 5. | |||||||||||||||||||||||
(c) | Our equity-related derivative instruments include the fair value of (i) the share collar (the ITV Collar) with respect to the ITV plc (ITV) shares held by our company at March 31, 2015, (ii) the share collar (the Sumitomo Collar) with respect to the shares of Sumitomo Corporation held by our company and (iii) Virgin Media’s conversion hedges (the Virgin Media Capped Calls) with respect to Virgin Media’s 6.50% convertible senior notes. The fair values of our equity collars do not include credit risk valuation adjustments as we assume 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 related secured borrowing arrangements. | |||||||||||||||||||||||
The details of our realized and unrealized gains (losses) on derivative instruments, net, are as follows: | ||||||||||||||||||||||||
Three months ended | ||||||||||||||||||||||||
March 31, | ||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Cross-currency and interest rate derivative contracts | $ | 740.5 | $ | (420.2 | ) | |||||||||||||||||||
Equity-related derivative instruments: | ||||||||||||||||||||||||
ITV Collar | (105.4 | ) | — | |||||||||||||||||||||
Sumitomo Collar | (10.1 | ) | 8.5 | |||||||||||||||||||||
Virgin Media Capped Calls | 0.6 | 0.2 | ||||||||||||||||||||||
Ziggo Collar | — | 15.4 | ||||||||||||||||||||||
Total equity-related derivative instruments | (114.9 | ) | 24.1 | |||||||||||||||||||||
Foreign currency forward contracts | (8.1 | ) | 20 | |||||||||||||||||||||
Other | 1 | (0.5 | ) | |||||||||||||||||||||
Total | $ | 618.5 | $ | (376.6 | ) | |||||||||||||||||||
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) is as follows: | ||||||||||||||||||||||||
Three months ended | ||||||||||||||||||||||||
March 31, | ||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Operating activities | $ | (137.8 | ) | $ | (210.8 | ) | ||||||||||||||||||
Investing activities | 2.6 | — | ||||||||||||||||||||||
Financing activities | (486.5 | ) | (98.2 | ) | ||||||||||||||||||||
Total | $ | (621.7 | ) | $ | (309.0 | ) | ||||||||||||||||||
Counterparty Credit Risk | ||||||||||||||||||||||||
We are exposed to the risk that the counterparties to the derivative instruments of our subsidiary borrowing groups 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. Collateral is generally not posted by either party under the derivative instruments of our subsidiary borrowing groups. At March 31, 2015, our exposure to counterparty credit risk included derivative assets with an aggregate fair value of $2,197.7 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 March 31, 2015, we present a single date that represents the applicable final maturity date. For derivative instruments that become effective subsequent to March 31, 2015, 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 March 31, 2015 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: | ||||||||||||||||||||||||
Jan-23 | $ | 400 | € | 339.6 | 5.75% | 4.33% | ||||||||||||||||||
Feb-22 | $ | 1,400.00 | £ | 873.6 | 5.01% | 5.49% | ||||||||||||||||||
Oct-20 | $ | 1,370.40 | £ | 881.6 | 6 mo. LIBOR + 2.75% | 6 mo. GBP LIBOR + 3.10% | ||||||||||||||||||
Jun-20 | $ | 984.6 | £ | 640.1 | 6 mo. LIBOR + 2.75% | 6 mo. GBP LIBOR + 3.18% | ||||||||||||||||||
Jan-21 | $ | 500 | £ | 308.9 | 5.25% | 6 mo. GBP LIBOR + 2.06% | ||||||||||||||||||
Jan-23 | $ | 500 | £ | 325.1 | 5.25% | 5.26% | ||||||||||||||||||
Oct-22 | $ | 450 | £ | 272 | 6.00% | 6.43% | ||||||||||||||||||
Jan-22 | $ | 425 | £ | 255.8 | 5.50% | 5.82% | ||||||||||||||||||
Apr-19 | $ | 191.5 | £ | 122.3 | 5.38% | 5.49% | ||||||||||||||||||
November 2016 (a) | $ | 55 | £ | 27.7 | 6.50% | 7.03% | ||||||||||||||||||
Oct-19 | $ | 50 | £ | 30.3 | 8.38% | 8.98% | ||||||||||||||||||
October 2019 - October 2022 | $ | 50 | £ | 30.7 | 6.00% | 5.75% | ||||||||||||||||||
UPC Broadband Holding BV (UPC Broadband Holding), a subsidiary of UPC Holding BV (UPC Holding): | ||||||||||||||||||||||||
July 2016 (a) | $ | 575 | € | 434.1 | 6 mo. LIBOR + 2.40% | 3.78% | ||||||||||||||||||
July 2016 - July 2018 | $ | 575 | € | 434.1 | 6 mo. LIBOR + 2.40% | 6.68% | ||||||||||||||||||
Jul-21 | $ | 440 | € | 337.2 | 6 mo. LIBOR + 2.50% | 6 mo. EURIBOR + 2.87% | ||||||||||||||||||
Jan-20 | $ | 327.5 | € | 249.5 | 6 mo. LIBOR + 4.92% | 7.52% | ||||||||||||||||||
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% | ||||||||||||||||||
Jul-18 | $ | 250 | € | 188.7 | 6 mo. LIBOR + 1.75% | 5.91% | ||||||||||||||||||
Nov-19 | $ | 250 | € | 181.5 | 7.25% | 7.74% | ||||||||||||||||||
Nov-21 | $ | 250 | € | 181.4 | 7.25% | 7.50% | ||||||||||||||||||
Jan-20 | $ | 197.5 | € | 150.5 | 6 mo. LIBOR + 4.92% | 6 mo. EURIBOR + 4.91% | ||||||||||||||||||
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% | ||||||||||||||||||
July 2016 (a) | $ | 225 | CHF | 206.3 | 6 mo. LIBOR + 4.81% | 1.00% | ||||||||||||||||||
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 | ||||||||||||||||||||||||
July 2016 - January 2020 | $ | 225 | CHF | 206.3 | 6 mo. LIBOR + 4.81% | 5.44% | ||||||||||||||||||
Jul-21 | $ | 200 | CHF | 186 | 6 mo. LIBOR + 2.50% | 6 mo. CHF LIBOR + 2.55% | ||||||||||||||||||
July 2016 (a) | $ | 201.5 | RON | 489.3 | 6 mo. LIBOR + 3.50% | 1.40% | ||||||||||||||||||
July 2016 - July 2020 | $ | 201.5 | RON | 489.3 | 6 mo. LIBOR + 3.50% | 11.34% | ||||||||||||||||||
Jan-21 | € | 720.8 | CHF | 877 | 6 mo. EURIBOR + 2.50% | 6 mo. CHF LIBOR + 2.62% | ||||||||||||||||||
January 2017 - September 2022 | € | 383.8 | CHF | 477 | 6 mo. EURIBOR + 2.00% | 6 mo. CHF LIBOR + 2.22% | ||||||||||||||||||
Jan-17 | € | 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-21 | € | 161.4 | CHF | 187.1 | 6 mo. EURIBOR + 2.35% | 6 mo. CHF LIBOR + 2.76% | ||||||||||||||||||
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-15 | € | 69.1 | CLP | 53,000.00 | 3.50% | 5.75% | ||||||||||||||||||
Jan-20 | € | 318.9 | CZK | 8,818.70 | 5.58% | 5.44% | ||||||||||||||||||
Jan-17 | € | 60 | CZK | 1,703.10 | 5.50% | 6.99% | ||||||||||||||||||
Jul-17 | € | 39.6 | CZK | 1,000.00 | 3.00% | 3.75% | ||||||||||||||||||
July 2016 (a) | € | 260 | HUF | 75,570.00 | 5.50% | 5.00% | ||||||||||||||||||
July 2016 - January 2017 | € | 260 | HUF | 75,570.00 | 5.50% | 10.56% | ||||||||||||||||||
Dec-16 | € | 150 | HUF | 43,367.50 | 5.50% | 2.00% | ||||||||||||||||||
Jul-18 | € | 78 | HUF | 19,500.00 | 5.50% | 9.15% | ||||||||||||||||||
Jan-17 | € | 245 | PLN | 1,000.60 | 5.50% | 9.03% | ||||||||||||||||||
Sep-16 | € | 200 | PLN | 892.7 | 6.00% | 3.91% | ||||||||||||||||||
Jan-20 | € | 144.6 | PLN | 605 | 5.50% | 7.98% | ||||||||||||||||||
Jul-17 | € | 82 | PLN | 318 | 3.00% | 5.60% | ||||||||||||||||||
Dec-15 | CLP 53,000.0 | € | 69.1 | 5.75% | 3.50% | |||||||||||||||||||
Amsterdamse Beheer-en Consultingmaatschappij BV (ABC B.V.), a subsidiary of Ziggo Group Holding: | ||||||||||||||||||||||||
Jan-22 | $ | 2,350.00 | € | 1,727.00 | 6 mo. LIBOR + 2.75% | 4.56% | ||||||||||||||||||
Jan-23 | $ | 400 | € | 339 | 5.88% | 4.58% | ||||||||||||||||||
Unitymedia Hessen GmbH & Co. KG (Unitymedia Hessen), a subsidiary of Unitymedia: | ||||||||||||||||||||||||
Jan-23 | $ | 1,652.90 | € | 1,252.50 | 5.67% | 4.50% | ||||||||||||||||||
Jan-21 | $ | 797.1 | € | 546.5 | 5.50% | 5.60% | ||||||||||||||||||
VTR: | ||||||||||||||||||||||||
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 swaps do not involve the exchange of notional amounts at the inception and maturity of the instruments. Accordingly, the only cash flows associated with these instruments are interest payments and receipts. | |||||||||||||||||||||||
Interest Rate Swaps: | ||||||||||||||||||||||||
The terms of our outstanding interest rate swap contracts at March 31, 2015 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% | ||||||||||||||||||||
Jul-20 | € | 750 | 6.38% | 6 mo. EURIBOR + 3.16% | ||||||||||||||||||||
Jul-16 | € | 631.3 | 6 mo. EURIBOR | 0.20% | ||||||||||||||||||||
July 2016 - January 2021 | € | 250 | 6 mo. EURIBOR | 2.52% | ||||||||||||||||||||
July 2016 - January 2023 | € | 210 | 6 mo. EURIBOR | 2.88% | ||||||||||||||||||||
July 2016 - July 2020 | € | 171.3 | 6 mo. EURIBOR | 3.95% | ||||||||||||||||||||
Nov-21 | € | 107 | 6 mo. EURIBOR | 2.89% | ||||||||||||||||||||
Jul-16 | CHF | 900 | 6 mo. CHF LIBOR | 0.05% | ||||||||||||||||||||
Jan-22 | CHF | 711.5 | 6 mo. CHF LIBOR | 1.89% | ||||||||||||||||||||
July 2016 - January 2021 | CHF | 500 | 6 mo. CHF LIBOR | 1.65% | ||||||||||||||||||||
July 2016 - January 2018 | CHF | 400 | 6 mo. CHF LIBOR | 2.51% | ||||||||||||||||||||
Dec-16 | CHF | 370.9 | 6 mo. CHF LIBOR | 3.82% | ||||||||||||||||||||
Nov-19 | CHF | 226.8 | 6 mo. CHF LIBOR + 5.01% | 6.88% | ||||||||||||||||||||
ABC B.V.: | ||||||||||||||||||||||||
Jan-22 | € | 1,566.00 | 6 mo. EURIBOR | 1.66% | ||||||||||||||||||||
Jan-16 | € | 689 | 1 mo. EURIBOR + 3.75% | 6 mo. EURIBOR + 3.59% | ||||||||||||||||||||
Jan-21 | € | 500 | 6 mo. EURIBOR | 2.60% | ||||||||||||||||||||
Jul-16 | € | 290 | 6 mo. EURIBOR | 0.20% | ||||||||||||||||||||
July 2016 - January 2023 | € | 290 | 6 mo. EURIBOR | 2.84% | ||||||||||||||||||||
Mar-21 | € | 175 | 6 mo. EURIBOR | 2.32% | ||||||||||||||||||||
Jul-16 | € | 171.3 | 6 mo. EURIBOR | 0.20% | ||||||||||||||||||||
July 2016 - January 2022 | € | 171.3 | 6 mo. EURIBOR | 3.44% | ||||||||||||||||||||
Telenet International Finance S.a.r.l (Telenet International), a subsidiary of Telenet: | ||||||||||||||||||||||||
Jun-23 | € | 500 | 3 mo. EURIBOR | 1.45% | ||||||||||||||||||||
Subsidiary / Final maturity date | Notional amount | Interest rate due from | Interest rate due to | |||||||||||||||||||||
counterparty | counterparty | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
July 2017 - June 2022 | € | 420 | 3 mo. EURIBOR | 2.08% | ||||||||||||||||||||
Jun-21 | € | 400 | 3 mo. EURIBOR | 0.41% | ||||||||||||||||||||
July 2017 - June 2023 | € | 382 | 3 mo. EURIBOR | 1.89% | ||||||||||||||||||||
Jul-17 | € | 150 | 3 mo. EURIBOR | 3.55% | ||||||||||||||||||||
August 2015 - June 2022 | € | 55 | 3 mo. EURIBOR | 1.81% | ||||||||||||||||||||
Jun-15 | € | 50 | 3 mo. EURIBOR | 3.55% | ||||||||||||||||||||
Interest Rate Caps | ||||||||||||||||||||||||
Our purchased and sold interest rate cap contracts with respect to EURIBOR at March 31, 2015 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: | ||||||||||||||||||||||||
Jan-20 | € | 735 | 7.00% | |||||||||||||||||||||
Telenet International: | ||||||||||||||||||||||||
June 2015 - June 2017 | € | 50 | 4.50% | |||||||||||||||||||||
Telenet NV, a subsidiary of Telenet: | ||||||||||||||||||||||||
Dec-17 | € | 0.6 | 6.50% | |||||||||||||||||||||
Dec-17 | € | 0.6 | 5.50% | |||||||||||||||||||||
Interest rate cap sold (b): | ||||||||||||||||||||||||
UPC Broadband Holding: | ||||||||||||||||||||||||
Jan-20 | € | 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 March 31, 2015, as detailed below: | ||||||||||||||||||||||||
Subsidiary / Final maturity date | Notional | EURIBOR floor rate (a) | EURIBOR cap rate (b) | |||||||||||||||||||||
amount | ||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
UPC Broadband Holding: | ||||||||||||||||||||||||
Jan-20 | € | 1,135.00 | 1.00% | 3.54% | ||||||||||||||||||||
Telenet International: | ||||||||||||||||||||||||
Jul-17 | € | 650 | 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 Currency Forwards | ||||||||||||||||||||||||
The following table summarizes our outstanding foreign currency forward contracts at March 31, 2015: | ||||||||||||||||||||||||
Subsidiary | Currency | Currency | Maturity dates | |||||||||||||||||||||
purchased | sold | |||||||||||||||||||||||
forward | forward | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
LGE Financing | $ | 674.9 | € | 629 | Apr-15 | |||||||||||||||||||
LGE Financing | € | 255 | $ | 277.2 | Apr-15 | |||||||||||||||||||
LGE Financing | € | 45.4 | £ | 33 | Apr-15 | |||||||||||||||||||
UPC Broadband Holding | $ | 22.2 | CZK | 540 | April 2015 - March 2016 | |||||||||||||||||||
UPC Broadband Holding | € | 97.5 | CHF | 109.5 | April 2015 - March 2016 | |||||||||||||||||||
UPC Broadband Holding | € | 19.5 | CZK | 540 | April 2015 - March 2016 | |||||||||||||||||||
UPC Broadband Holding | € | 19.3 | HUF | 6,000.00 | April 2015 - March 2016 | |||||||||||||||||||
UPC Broadband Holding | € | 42.6 | PLN | 180 | April 2015 - December 2015 | |||||||||||||||||||
UPC Broadband Holding | € | 39.2 | RON | 175.2 | April 2015 - March 2016 | |||||||||||||||||||
UPC Broadband Holding | £ | 3.6 | € | 4.8 | April 2015 - March 2016 | |||||||||||||||||||
UPC Broadband Holding | CZK | 249 | € | 9 | Apr-15 | |||||||||||||||||||
UPC Broadband Holding | HUF | 1,950.00 | € | 6.5 | Apr-15 | |||||||||||||||||||
UPC Broadband Holding | PLN | 79.5 | € | 19.4 | Apr-15 | |||||||||||||||||||
Telenet NV | $ | 49.4 | € | 43.7 | April 2015 - March 2016 | |||||||||||||||||||
VTR | $ | 62.7 | CLP | 38,702.90 | April 2015 - December 2015 | |||||||||||||||||||
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | |||||||||||||||
Mar. 31, 2015 | ||||||||||||||||
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 March 31, 2015 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 three months ended March 31, 2015, 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 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 March 31, 2015 valuation of the ITV Collar, we used estimated volatilities ranging from 24.4% to 30.1%. At March 31, 2015, the valuations of the Sumitomo Collar and the Virgin Media Capped Calls were not significantly impacted by forecasted volatilities. | ||||||||||||||||
As further described in note 4, we have entered into various derivative instruments to manage our interest rate and foreign currency exchange risk. The recurring fair value measurements of these derivative instruments are determined using discounted cash flow models. Most of the inputs to these discounted cash flow models consist of, or are derived from, observable Level 2 data for substantially the full term of these derivative instruments. This observable data includes most 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 represent our most significant Level 3 inputs, and these inputs are used to derive the credit risk valuation adjustments with respect to our various interest rate and foreign currency derivative valuations. As we would not expect changes in our or our counterparties’ credit spreads to have a significant impact on the valuations of these derivative instruments, we have determined that these valuations fall under Level 2 of the fair value hierarchy. Our credit risk valuation adjustments with respect to our cross-currency and interest rate swaps are quantified and further explained in note 4. | ||||||||||||||||
Fair value measurements are also used in connection with nonrecurring valuations performed in connection with impairment assessments and acquisition accounting. These nonrecurring valuations include the valuation of reporting units, customer relationship intangible assets, property and equipment and the implied value of goodwill. The valuation of private reporting units is based at least in part on discounted cash flow analyses. With the exception of certain inputs for our weighted average cost of capital and discount rate calculations that are derived from pricing services, the inputs used in our discounted cash flow analyses, such as forecasts of future cash flows, are based on our assumptions. The valuation of customer relationships is primarily based on an excess earnings methodology, which is a form of a discounted cash flow analysis. The excess earnings methodology requires us to estimate the specific cash flows expected from the customer relationship, considering such factors as estimated customer life, the revenue expected to be generated over the life of the customer, contributory asset charges, and other factors. Tangible assets are typically valued using a replacement or reproduction cost approach, considering factors such as current prices of the same or similar equipment, the age of the equipment and economic obsolescence. The implied value of goodwill is determined by allocating the fair value of a reporting unit to all of the assets and liabilities of that unit as if the reporting unit had been acquired in a business combination, with the residual amount allocated to goodwill. All of our nonrecurring valuations use significant unobservable inputs and therefore fall under Level 3 of the fair value hierarchy. During the three months ended March 31, 2015 and 2014, we did not perform significant nonrecurring fair value measurements. | ||||||||||||||||
A summary of our assets and liabilities that are measured at fair value on a recurring basis is as follows: | ||||||||||||||||
Fair value measurements at March 31, 2015 using: | ||||||||||||||||
Description | March 31, | Quoted prices | Significant | Significant | ||||||||||||
2015 | 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 | $ | 2,239.10 | $ | — | $ | 2,239.10 | $ | — | ||||||||
Equity-related derivative instruments | 389 | — | — | 389 | ||||||||||||
Foreign currency forward contracts | 5.3 | — | 5.3 | — | ||||||||||||
Other | 2.4 | — | 2.4 | — | ||||||||||||
Total derivative instruments | 2,635.80 | — | 2,246.80 | 389 | ||||||||||||
Investments | 1,804.40 | 1,464.60 | — | 339.8 | ||||||||||||
Total assets | $ | 4,440.20 | $ | 1,464.60 | $ | 2,246.80 | $ | 728.8 | ||||||||
Liabilities - derivative instruments: | ||||||||||||||||
Cross-currency and interest rate derivative contracts | $ | 1,913.10 | $ | — | $ | 1,913.10 | $ | — | ||||||||
Equity-related derivative instruments | 192.1 | — | — | 192.1 | ||||||||||||
Foreign currency forward contracts | 14.7 | — | 14.7 | — | ||||||||||||
Other | 0.3 | — | 0.3 | — | ||||||||||||
Total liabilities | $ | 2,120.20 | $ | — | $ | 1,928.10 | $ | 192.1 | ||||||||
Fair value measurements at | ||||||||||||||||
December 31, 2014 using: | ||||||||||||||||
Description | December 31, 2014 | 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 | $ | 1,357.30 | $ | — | $ | 1,357.30 | $ | — | ||||||||
Equity-related derivative instruments | 400.2 | — | — | 400.2 | ||||||||||||
Foreign currency forward contracts | 2.5 | — | 2.5 | — | ||||||||||||
Other | 1.4 | — | 1.4 | — | ||||||||||||
Total derivative instruments | 1,761.40 | — | 1,361.20 | 400.2 | ||||||||||||
Investments | 1,662.70 | 1,344.30 | — | 318.4 | ||||||||||||
Total assets | $ | 3,424.10 | $ | 1,344.30 | $ | 1,361.20 | $ | 718.6 | ||||||||
Liabilities - derivative instruments: | ||||||||||||||||
Cross-currency and interest rate derivative contracts | $ | 2,471.30 | $ | — | $ | 2,471.30 | $ | — | ||||||||
Equity-related derivative instruments | 88.4 | — | — | 88.4 | ||||||||||||
Foreign currency forward contracts | 0.8 | — | 0.8 | — | ||||||||||||
Other | 0.3 | — | 0.3 | — | ||||||||||||
Total liabilities | $ | 2,560.80 | $ | — | $ | 2,472.40 | $ | 88.4 | ||||||||
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, 2015 | $ | 318.4 | $ | 311.8 | $ | 630.2 | ||||||||||
Gains (losses) included in net loss (a): | ||||||||||||||||
Realized and unrealized losses on derivative instruments, net | — | (114.9 | ) | (114.9 | ) | |||||||||||
Realized and unrealized gains due to changes in fair values of certain investments, net | 31.1 | — | 31.1 | |||||||||||||
Foreign currency translation adjustments, investments and other, net | (9.7 | ) | — | (9.7 | ) | |||||||||||
Balance of net assets at March 31, 2015 | $ | 339.8 | $ | 196.9 | $ | 536.7 | ||||||||||
_______________ | ||||||||||||||||
(a) | Most of these net gains (losses) relate to assets and liabilities that we continue to carry on our condensed consolidated balance sheet as of March 31, 2015. |
Longlived_Assets
Long-lived Assets | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
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: | |||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||
Distribution systems | $ | 24,366.00 | $ | 26,012.50 | |||||||||||||||||||||
Customer premises equipment | 5,977.10 | 6,213.90 | |||||||||||||||||||||||
Support equipment, buildings and land | 4,126.00 | 4,298.40 | |||||||||||||||||||||||
34,469.10 | 36,524.80 | ||||||||||||||||||||||||
Accumulated depreciation | (12,647.2 | ) | (12,684.2 | ) | |||||||||||||||||||||
Total property and equipment, net | $ | 21,821.90 | $ | 23,840.60 | |||||||||||||||||||||
During the three months ended March 31, 2015 and 2014, we recorded non-cash increases related to vendor financing arrangements of $295.0 million and $170.5 million, respectively, which exclude related value-added taxes (VAT) of $35.0 million and $16.3 million, respectively, that were also financed by our vendors under these arrangements. In addition, during the three months ended March 31, 2015 and 2014, we recorded non-cash increases to our property and equipment related to assets acquired under capital leases of $62.0 million and $49.0 million, respectively. | |||||||||||||||||||||||||
Goodwill | |||||||||||||||||||||||||
Changes in the carrying amount of our goodwill during the three months ended March 31, 2015 are set forth below: | |||||||||||||||||||||||||
1-Jan-15 | Acquisitions | Foreign | March 31, | ||||||||||||||||||||||
and related | currency | 2015 | |||||||||||||||||||||||
adjustments | translation | ||||||||||||||||||||||||
adjustments | |||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||
European Operations Division: | |||||||||||||||||||||||||
U.K./Ireland | $ | 9,245.10 | $ | 0.4 | $ | (451.8 | ) | $ | 8,793.70 | ||||||||||||||||
The Netherlands | 8,605.00 | 132.5 | (994.2 | ) | 7,743.30 | ||||||||||||||||||||
Germany | 3,456.90 | — | (392.0 | ) | 3,064.90 | ||||||||||||||||||||
Belgium | 1,978.90 | — | (224.4 | ) | 1,754.50 | ||||||||||||||||||||
Switzerland/Austria | 3,591.90 | — | (21.4 | ) | 3,570.50 | ||||||||||||||||||||
Total Western Europe | 26,877.80 | 132.9 | (2,083.8 | ) | 24,926.90 | ||||||||||||||||||||
Central and Eastern Europe | 1,302.10 | 0.6 | (108.3 | ) | 1,194.40 | ||||||||||||||||||||
Total European Operations Division | 28,179.90 | 133.5 | (2,192.1 | ) | 26,121.30 | ||||||||||||||||||||
Chile | 440.3 | — | (12.9 | ) | 427.4 | ||||||||||||||||||||
Corporate and other | 381.4 | — | — | 381.4 | |||||||||||||||||||||
Total | $ | 29,001.60 | $ | 133.5 | $ | (2,205.0 | ) | $ | 26,930.10 | ||||||||||||||||
Intangible Assets Subject to Amortization, Net | |||||||||||||||||||||||||
The details of our intangible assets subject to amortization are set forth below: | |||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | ||||||||||||||||||||||||
Gross carrying amount | Accumulated amortization | Net carrying amount | Gross carrying amount | Accumulated amortization | Net carrying amount | ||||||||||||||||||||
in millions | |||||||||||||||||||||||||
Customer relationships | $ | 10,962.60 | $ | (3,130.9 | ) | $ | 7,831.70 | $ | 12,142.50 | $ | (3,056.3 | ) | $ | 9,086.20 | |||||||||||
Other | 198.9 | (113.1 | ) | 85.8 | 235.4 | (131.8 | ) | 103.6 | |||||||||||||||||
Total | $ | 11,161.50 | $ | (3,244.0 | ) | $ | 7,917.50 | $ | 12,377.90 | $ | (3,188.1 | ) | $ | 9,189.80 | |||||||||||
Debt_and_Capital_Lease_Obligat
Debt and Capital Lease Obligations | 3 Months Ended | |||||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||||
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: | ||||||||||||||||||||||||||||
March 31, 2015 | Carrying value (d) | |||||||||||||||||||||||||||
Weighted | Unused borrowing capacity (b) | Estimated fair value (c) | ||||||||||||||||||||||||||
average | ||||||||||||||||||||||||||||
interest | ||||||||||||||||||||||||||||
rate (a) | Borrowing currency | U.S. $ | 31-Mar-15 | 31-Dec-14 | 31-Mar-15 | December 31, 2014 | ||||||||||||||||||||||
equivalent | ||||||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||||||
Debt: | ||||||||||||||||||||||||||||
VM Notes | 5.63 | % | — | $ | — | $ | 10,602.70 | $ | 8,461.00 | $ | 10,117.20 | $ | 8,060.70 | |||||||||||||||
VM Credit Facility | 3.77 | % | £ | 660 | 979.7 | 3,768.10 | 4,734.90 | 3,752.00 | 4,804.00 | |||||||||||||||||||
VM Convertible Notes | 6.5 | % | — | — | 182.3 | 178.7 | 56.6 | 56.8 | ||||||||||||||||||||
Ziggo Credit Facilities | 3.64 | % | € | 650 | 697.3 | 5,249.00 | 4,663.00 | 5,180.40 | 4,710.80 | |||||||||||||||||||
Ziggo SPE Notes | 4.48 | % | — | — | 1,747.30 | — | 1,687.40 | — | ||||||||||||||||||||
Ziggo Notes | 6.82 | % | — | — | 985.7 | 1,082.30 | 953.1 | 1,077.00 | ||||||||||||||||||||
Unitymedia Notes | 5.04 | % | — | — | 7,628.80 | 7,869.30 | 7,250.80 | 7,400.90 | ||||||||||||||||||||
Unitymedia Revolving Credit Facilities | — | € | 500 | 536.4 | — | 319.4 | — | 338.8 | ||||||||||||||||||||
UPCB SPE Notes | 6.85 | % | — | — | 2,872.20 | 4,279.00 | 2,703.80 | 4,009.40 | ||||||||||||||||||||
UPC Broadband Holding Bank Facility | 3.25 | % | € | 846.2 | 907.8 | 1,509.50 | 3,156.40 | 1,516.70 | 3,179.20 | |||||||||||||||||||
UPC Holding Senior Notes | 6.59 | % | — | — | 1,619.80 | 2,603.60 | 1,481.50 | 2,391.60 | ||||||||||||||||||||
Telenet SPE Notes | 5.91 | % | — | — | 2,171.30 | 2,450.40 | 2,038.30 | 2,299.00 | ||||||||||||||||||||
Telenet Credit Facility | 3.44 | % | € | 322.9 | 346.4 | 1,461.50 | 1,633.40 | 1,452.90 | 1,638.60 | |||||||||||||||||||
VTR Finance Senior Secured Notes | 6.88 | % | — | — | 1,459.50 | 1,439.40 | 1,400.00 | 1,400.00 | ||||||||||||||||||||
Sumitomo Collar Loan | 1.88 | % | — | — | 817.3 | 818 | 786.9 | 787.7 | ||||||||||||||||||||
Liberty Puerto Rico Bank Facility | 5.2 | % | $ | 40 | 40 | 666.7 | 666.2 | 672 | 672 | |||||||||||||||||||
ITV Collar Loan | 1.73 | % | — | — | 649.1 | 678.2 | 638.1 | 667 | ||||||||||||||||||||
Vendor financing (e) | 3.37 | % | — | — | 832.3 | 946.4 | 832.3 | 946.4 | ||||||||||||||||||||
Other | 9.29 | % | (f) | 195.2 | 155.6 | 171.5 | 155.6 | 171.5 | ||||||||||||||||||||
Total debt | 4.94 | % | $ | 3,702.80 | $ | 44,378.70 | $ | 46,151.10 | 42,675.60 | 44,611.40 | ||||||||||||||||||
Capital lease obligations: | ||||||||||||||||||||||||||||
Unitymedia | 712.5 | 810.1 | ||||||||||||||||||||||||||
Telenet | 367.9 | 413.4 | ||||||||||||||||||||||||||
Virgin Media | 231.3 | 255.3 | ||||||||||||||||||||||||||
Other subsidiaries | 96 | 68.8 | ||||||||||||||||||||||||||
Total capital lease obligations | 1,407.70 | 1,547.60 | ||||||||||||||||||||||||||
Total debt and capital lease obligations | 44,083.30 | 46,159.00 | ||||||||||||||||||||||||||
Current maturities | (1,292.8 | ) | (1,550.9 | ) | ||||||||||||||||||||||||
Long-term debt and capital lease obligations | $ | 42,790.50 | $ | 44,608.10 | ||||||||||||||||||||||||
_______________ | ||||||||||||||||||||||||||||
(a) | Represents the weighted average interest rate in effect at March 31, 2015 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 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 or 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 5.4% at March 31, 2015. For information regarding our derivative instruments, see note 4. | |||||||||||||||||||||||||||
(b) | Unused borrowing capacity represents the maximum availability under the applicable facility at March 31, 2015 without regard to covenant compliance calculations or other conditions precedent to borrowing. At March 31, 2015, based on the applicable leverage and other financial covenants, the full amount of unused borrowing capacity was available to be borrowed under each of the respective subsidiary facilities, except that our aggregate availability under Unitymedia’s (i) €420.0 million ($450.6 million) senior secured revolving credit facility (the UM Senior Secured Facility) and (ii) €80.0 million ($85.8 million) super senior secured revolving credit facility (together with the UM Senior Secured Facility, the Unitymedia Revolving Credit Facilities) was limited to €439.1 million ($471.1 million). When the relevant March 31, 2015 compliance reporting requirements have been completed, and assuming no changes from March 31, 2015 borrowing levels, we anticipate that our availability under the Unitymedia Revolving Credit Facilities will be limited to €481.9 million ($517.0 million) and our availability under the UPC Broadband Holding Bank Facility will be limited to €769.9 million ($826.0 million). In addition to these limitations, 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 March 31, 2015, 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 Unitymedia was limited to €21.6 million ($23.2 million). When the relevant March 31, 2015 compliance reporting requirements have been completed and assuming no changes from March 31, 2015 borrowing levels, we anticipate that the availability to be loaned or distributed by Unitymedia will be limited to €64.4 million ($69.1 million) and the availability to be loaned or distributed by Ziggo will be limited to €425.3 million ($456.3 million). For information regarding certain transactions completed subsequent to March 31, 2015 that could have an impact on unused borrowing capacity, see note 15. | |||||||||||||||||||||||||||
(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 regarding fair value hierarchies, see note 5. | |||||||||||||||||||||||||||
(d) | Amounts include the impact of premiums and discounts, where applicable. | |||||||||||||||||||||||||||
(e) | 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 March 31, 2015 and December 31, 2014, the amounts owed pursuant to these arrangements include $90.9 million and $101.7 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. | |||||||||||||||||||||||||||
(f) | 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 Credit Facility) and a CLP 22.0 billion ($35.2 million) Chilean peso facility (the VTR CLP Credit Facility), each of which were undrawn at March 31, 2015. The VTR Dollar Credit Facility and the VTR CLP Credit Facility have fees on unused commitments of 1.1% and 1.34% per year, respectively. | |||||||||||||||||||||||||||
VM Notes | ||||||||||||||||||||||||||||
On March 30, 2015, Virgin Media Secured Finance PLC (Virgin Media Secured Finance), a wholly-owned subsidiary of Virgin Media, issued (i) $500.0 million principal amount of 5.25% senior secured notes due January 15, 2026 (the Original 2026 VM Senior Secured Notes) and (ii) £525.0 million ($779.3 million) principal amount of 4.875% senior secured notes due January 15, 2027 (the 2027 VM Senior Secured Notes). The net proceeds from the Original 2026 VM Senior Secured Notes and the 2027 VM Senior Secured Notes were used to (a) redeem 10% of the principal amount of each of the following series of notes issued by Virgin Media Secured Finance: (1) the £1,100.0 million ($1,632.8 million) principal amount of 6.0% senior secured notes due April 15, 2021 (the April 2021 VM Sterling Senior Secured Notes), (2) the $1.0 billion principal amount of 5.375% senior secured notes due April 15, 2021 (the April 2021 VM Dollar Senior Secured Notes and, together with the April 2021 VM Sterling Senior Secured Notes, the April 2021 VM Senior Secured Notes) and (3) the £430.0 million ($638.3 million) principal amount of 5.5% senior secured notes due January 15, 2025 (the 2025 VM Sterling Senior Secured Notes), each at a redemption price equal to 103% of the applicable redeemed principal amount in accordance with the indentures governing each of the notes, and (b) prepay in full the existing £375.0 million ($556.6 million) outstanding principal amount of term loan A (VM Facility A) and $400.0 million of the existing $2,755.0 million outstanding principal amount of term loan B (VM Facility B), each under the VM Credit Facility (as described below). In connection with these transactions, we recognized a loss on debt modification and extinguishment, net, of $30.1 million. This loss includes (I) the write-off of $17.9 million of deferred financing costs, (II) the payment of $10.7 million of redemption premium and (III) the write-off of $1.5 million of unamortized discount. | ||||||||||||||||||||||||||||
On April 30, 2015, Virgin Media Secured Finance issued $500.0 million principal amount of 5.250% senior secured notes due January 15, 2026 (the Additional 2026 VM Senior Secured Notes and, together with the Original 2026 VM Senior Secured Notes, the 2026 VM Senior Secured Notes). The Additional 2026 VM Senior Secured Notes were issued at 101% of par. The net proceeds from the Additional 2026 VM Senior Secured Notes were used to prepay $500.0 million of the outstanding principal amount of VM Facility B under the VM Credit Facility. | ||||||||||||||||||||||||||||
The 2026 VM Senior Secured Notes and the 2027 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 2026 VM Senior Secured Notes and the 2027 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 2026 VM Senior Secured Notes and the 2027 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 specified in the indenture. In addition, the 2026 VM Senior Secured Notes and the 2027 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 ($111.3 million) or more in the aggregate of VMIH or the restricted subsidiaries (as specified in the indenture) is an event of default under the 2026 VM Senior Secured Notes and the 2027 VM Senior Secured Notes. | ||||||||||||||||||||||||||||
Subject to the circumstances described below, the 2026 VM Senior Secured Notes are non-callable until January 15, 2020 and the 2027 VM Senior Secured Notes are non-callable until January 15, 2021 (the Call Dates). At any time prior to the applicable Call Date, Virgin Media Secured Finance may redeem some or all of the 2026 VM Senior Secured Notes or the 2027 VM Senior Secured Notes (as applicable) by paying a “make-whole” premium, which is the present value of all remaining scheduled interest payments to the applicable Call Date using the discount rate (as specified in the indenture) as of the redemption date plus 50 basis points. | ||||||||||||||||||||||||||||
Virgin Media Secured Finance may redeem some or all of the 2026 VM Senior Secured Notes or the 2027 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 specified in the indenture), if any, to the applicable redemption date, if redeemed during the 12-month period commencing on January 15 of the years set forth below: | ||||||||||||||||||||||||||||
Redemption price | ||||||||||||||||||||||||||||
Year | 2026 VM Senior Secured Notes | 2027 VM Senior Secured Notes | ||||||||||||||||||||||||||
2020 | 102.63% | N.A. | ||||||||||||||||||||||||||
2021 | 101.31% | 102.44% | ||||||||||||||||||||||||||
2022 | 100.66% | 101.22% | ||||||||||||||||||||||||||
2023 | 100.00% | 100.61% | ||||||||||||||||||||||||||
2024 and thereafter | 100.00% | 100.00% | ||||||||||||||||||||||||||
Prior to the applicable Call Date, during each 12-month period commencing on the date on which the 2026 VM Senior Secured Notes and the 2027 VM Senior Secured Notes were issued, respectively, Virgin Media Secured Finance may redeem up to 10% of the principal amount of the 2026 VM Senior Secured Notes and the 2027 VM Senior Secured Notes, respectively, at a redemption price equal to 103% of the principal amount thereof plus accrued and unpaid interest up to (but excluding) the redemption date. | ||||||||||||||||||||||||||||
If VMIH or the restricted subsidiaries (as specified in the indenture) sell certain assets or if Virgin Media Communications Limited or certain of its subsidiaries experience specific changes in control, Virgin Media Secured Finance must offer to repurchase the relevant 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 March 31, 2015 are summarized in the following table: | ||||||||||||||||||||||||||||
Facility | Maturity | Interest rate | Facility amount | Unused | Carrying | |||||||||||||||||||||||
(in borrowing | borrowing | value (a) | ||||||||||||||||||||||||||
currency) | capacity | |||||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||||||
B | June 7, 2020 | LIBOR + 2.75% (b) | $ | 2,355.00 | $ | — | $ | 2,346.00 | ||||||||||||||||||||
D | June 30, 2022 | LIBOR + 3.25% (b) | £ | 100 | — | 148.1 | ||||||||||||||||||||||
E | June 30, 2023 | LIBOR + 3.50% (b) | £ | 849.4 | — | 1,257.90 | ||||||||||||||||||||||
Revolving facility (c) | June 7, 2019 | LIBOR + 3.25% | £ | 660 | 979.7 | — | ||||||||||||||||||||||
Total | $ | 979.7 | $ | 3,752.00 | ||||||||||||||||||||||||
_______________ | ||||||||||||||||||||||||||||
(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. | |||||||||||||||||||||||||||
Ziggo Credit Facilities | ||||||||||||||||||||||||||||
The details of our borrowings under Ziggo Group Holding’s credit facilities (the Ziggo Credit Facilities) as of March 31, 2015 are summarized in the following table: | ||||||||||||||||||||||||||||
Facility | Maturity | Interest rate | Facility amount | Unused | Carrying | |||||||||||||||||||||||
(in borrowing | borrowing | value (a) | ||||||||||||||||||||||||||
currency) | capacity | |||||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||||||
Ziggo Dollar Facility | January 15, 2022 | LIBOR + 2.75% (c) | $ | 2,350.00 | $ | — | $ | 2,316.40 | ||||||||||||||||||||
Ziggo Euro Facility | January 15, 2022 | EURIBOR + 3.00% (b) | € | 2,000.00 | — | 2,124.60 | ||||||||||||||||||||||
Senior Secured Proceeds Loan | January 15, 2025 | 3.75% | € | 800 | — | 858.2 | ||||||||||||||||||||||
Euro Senior Proceeds Loan | January 15, 2025 | 4.63% | € | 400 | — | 429.1 | ||||||||||||||||||||||
Dollar Senior Proceeds Loan | January 15, 2025 | 5.88% | $ | 400 | — | 400 | ||||||||||||||||||||||
New Ziggo Credit Facility | March 31, 2021 | EURIBOR + 3.75% | € | 689.2 | — | 739.4 | ||||||||||||||||||||||
Ziggo Revolving Facilities | June 30, 2020 | (d) | € | 650 | 697.3 | — | ||||||||||||||||||||||
Elimination of the Proceeds Loans in consolidation (e) | — | (1,687.3 | ) | |||||||||||||||||||||||||
Total | $ | 697.3 | $ | 5,180.40 | ||||||||||||||||||||||||
_______________ | ||||||||||||||||||||||||||||
(a) | The carrying values of the Ziggo Euro Facility and the Ziggo Dollar Facility include the impact of discounts. | |||||||||||||||||||||||||||
(b) | The Ziggo Euro Facility has a EURIBOR floor of 0.75%. | |||||||||||||||||||||||||||
(c) | The Ziggo Dollar Facility has a LIBOR floor of 0.75%. | |||||||||||||||||||||||||||
(d) | The Ziggo Revolving Facilities include (i) a €600.0 million ($643.7 million) facility that bears interest at EURIBOR plus a margin of 2.75% and has a fee on unused commitments of 1.1% per year and (ii) a €50.0 million ($53.6 million) facility that bears interest at EURIBOR plus a margin of 2.00% and has a fee on unused commitments of 0.8% per year. | |||||||||||||||||||||||||||
(e) | Amounts relate to certain senior and senior secured notes (the Ziggo SPE Notes) issued by special purpose financing entities (the Ziggo SPEs) that are consolidated by Ziggo Group Holding and Liberty Global. The proceeds from the Ziggo SPE Notes were used to fund the Senior Secured Proceeds Loan, the Euro Senior Proceeds Loan and the Dollar Senior Proceeds Loan (together the Proceeds Loans), with certain subsidiaries of Ziggo Group Holding as the borrowers. Accordingly, the amounts outstanding under the Proceeds Loans are eliminated in our condensed consolidated financial statements. | |||||||||||||||||||||||||||
Unitymedia Notes | ||||||||||||||||||||||||||||
On March 11, 2015, Unitymedia Hessen and Unitymedia NRW GmbH (each, a subsidiary of Unitymedia and, together, the UM Senior Secured Note Issuers) issued €500.0 million ($536.4 million) principal amount of 3.5% senior secured notes due January 15, 2027 (the 2015 UM Senior Secured Notes). The net proceeds from the 2015 UM Senior Secured Notes were used to (i) redeem 10% of the principal amount of each of the following series of notes issued by the UM Senior Secured Note Issuers: (a) the €650.0 million ($697.4 million) principal amount of 5.5% senior secured notes due September 15, 2022 (the September 2012 UM Senior Secured Notes), (b) the €500.0 million ($536.4 million) principal amount of 5.75% senior secured notes due January 15, 2023 (the December 2012 UM Euro Senior Secured Notes), (c) the €500.0 million ($536.4 million) principal amount of 5.125% senior secured notes due January 21, 2023 (the January 2013 UM Senior Secured Notes) and (d) the €350.0 million ($375.5 million) principal amount of 5.625% senior secured notes due April 15, 2023 (the April 2013 UM Senior Secured Notes), each at a redemption price equal to 103% of the applicable redeemed principal amount in accordance with the indentures governing each of the notes and (ii) prepay the outstanding balance under the UM Senior Secured Facility. In connection with these transactions, we recognized a loss on debt modification and extinguishment, net, of $8.1 million. This loss includes (1) the payment of $6.4 million of redemption premium and (2) the write-off of $1.7 million of deferred financing costs. | ||||||||||||||||||||||||||||
On March 16, 2015, Unitymedia issued €700.0 million ($751.0 million) principal amount of 3.75% senior notes due January 15, 2027 (the 2015 UM Senior Notes). The net proceeds from the 2015 UM Senior Notes were used to fully redeem the €618.0 million ($663.0 million) principal amount of 9.5% senior notes issued by Unitymedia (the UM Senior Exchange Notes). In connection with this transaction, we recognized a loss on debt modification and extinguishment, net, of $91.2 million, including (i) the payment of $89.8 million of redemption premium and (ii) the write-off of $1.4 million of unamortized discount. | ||||||||||||||||||||||||||||
The 2015 UM Senior Secured Notes are (i) senior obligations of the UM Senior Secured Note Issuers that rank equally with all of the existing and future senior debt of each UM Senior Secured Note Issuer and are senior to all existing and future subordinated debt of each of the UM Senior Secured Note Issuers, (ii) are guaranteed on a senior basis by Unitymedia and certain of its subsidiaries and (iii) are secured by a first-ranking pledge over the shares of the UM Senior Secured Note Issuers and certain other share and/or asset security of Unitymedia and certain of its subsidiaries. | ||||||||||||||||||||||||||||
The 2015 UM Senior Notes are senior obligations of Unitymedia that rank equally with all of the existing and future senior debt of Unitymedia and are senior to all existing and future subordinated debt of Unitymedia. The 2015 UM Senior Notes are guaranteed on a senior subordinated basis by various subsidiaries of Unitymedia and are secured by a first-ranking pledge over the shares of Unitymedia and junior-priority share pledges and other asset security of certain subsidiaries of Unitymedia. | ||||||||||||||||||||||||||||
We refer to the 2015 UM Senior Secured Notes and the 2015 UM Senior Notes as the “2015 UM Notes”. | ||||||||||||||||||||||||||||
The 2015 UM 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 specified in the applicable indenture. The 2015 UM 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 ($80.5 million) or more in the aggregate of Unitymedia or a UM Senior Secured Note Issuer or any of the restricted subsidiaries (as specified in the applicable indenture) is an event of default under the 2015 UM Notes. | ||||||||||||||||||||||||||||
Subject to the circumstances described below, the 2015 UM Notes are non-callable until January 15, 2021. At any time prior to January 15, 2021, the UM Senior Secured Note Issuers or Unitymedia may redeem some or all of the 2015 UM Notes (as applicable) 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. | ||||||||||||||||||||||||||||
The UM Senior Secured Note Issuers or Unitymedia (as applicable) may redeem some or all of the 2015 UM Notes at the following redemption prices (expressed as a percentage of the principal amount) plus accrued and unpaid interest and additional amounts (as specified in the applicable indenture), if any, to the redemption date, if redeemed during the 12-month period commencing on January 15 of the years set forth below: | ||||||||||||||||||||||||||||
Year | Redemption price | |||||||||||||||||||||||||||
2015 UM Senior Secured Notes | 2015 UM Senior Notes | |||||||||||||||||||||||||||
2021 | 101.75% | 101.88% | ||||||||||||||||||||||||||
2022 | 100.88% | 100.94% | ||||||||||||||||||||||||||
2023 | 100.44% | 100.47% | ||||||||||||||||||||||||||
2024 and thereafter | 100.00% | 100.00% | ||||||||||||||||||||||||||
If Unitymedia or certain of its subsidiaries sell certain assets or experience specific changes in control, Unitymedia must offer to repurchase the 2015 UM Notes at a redemption price of 101%. | ||||||||||||||||||||||||||||
Prior to January 15, 2021, during each 12-month period commencing on the date on which the 2015 UM Senior Secured Notes were issued, the UM Senior Secured Note Issuers may redeem up to 10% of the principal amount of the 2015 UM Senior Secured Notes at a redemption price equal to 103% of the principal amount thereof plus accrued and unpaid interest up to (but excluding) the redemption date. | ||||||||||||||||||||||||||||
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 March 31, 2015 are summarized in the following table: | ||||||||||||||||||||||||||||
Facility | Maturity | Interest rate | Facility amount | Unused | Carrying | |||||||||||||||||||||||
(in borrowing | borrowing | value (c) | ||||||||||||||||||||||||||
currency) (a) | capacity (b) | |||||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||||||
Y (d) | July 1, 2020 | 6.38% | € | 190 | $ | — | $ | 203.8 | ||||||||||||||||||||
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 | ||||||||||||||||||||||
AH | June 30, 2021 | LIBOR + 2.50% (e) | $ | 1,305.00 | — | 1,302.10 | ||||||||||||||||||||||
AI | April 30, 2019 | EURIBOR + 3.25% | € | 1,046.20 | 907.8 | 214.6 | ||||||||||||||||||||||
Elimination of Facilities Y, Z, AC and AD in consolidation (d) | — | (2,703.8 | ) | |||||||||||||||||||||||||
Total | $ | 907.8 | $ | 1,516.70 | ||||||||||||||||||||||||
_______________ | ||||||||||||||||||||||||||||
(a) | Except as described in (d) below, amounts represent total third-party facility amounts at March 31, 2015 without giving effect to the impact of discounts. | |||||||||||||||||||||||||||
(b) | When the relevant March 31, 2015 compliance reporting requirements have been completed and assuming no changes from the March 31, 2015 borrowing levels, we anticipate that our availability under the UPC Broadband Holding Bank Facility will be limited to €769.9 million ($826.0 million). Facility AI has a fee on unused commitments of 1.3% per year. | |||||||||||||||||||||||||||
(c) | The carrying value of Facility AH includes the impact of a discount. | |||||||||||||||||||||||||||
(d) | Amounts relate 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 Y, Z, AC and AD, with our wholly-owned subsidiary UPC Financing Partnership (UPC Financing) as the borrower. Accordingly, the amounts outstanding under Facilities Y, Z, AC and AD are eliminated in our condensed consolidated financial statements. | |||||||||||||||||||||||||||
(e) | Facility AH has a LIBOR floor of 0.75%. | |||||||||||||||||||||||||||
Refinancing Transactions. During the first quarter of 2015, (i) a controlling interest in UPC Broadband Ireland Ltd. and its subsidiaries was transferred from a subsidiary of UPC Holding to a subsidiary of Virgin Media (the UPC Ireland Transfer) and UPC Nederland B.V. (UPC Nederland) and its subsidiaries were transferred from a subsidiary of UPC Holding to a subsidiary of Ziggo Group Holding and (ii) UPC Holding used the cash consideration received for such transfers to prepay (a) in full the €500.0 million ($536.4 million) outstanding principal amount of Facility V under the UPC Broadband Holding Bank Facility, together with accrued and unpaid interest and the related prepayment premium to UPCB Finance I Limited (UPCB Finance I) and, in turn UPCB Finance I used such proceeds to fully redeem its €500.0 million ($536.4 million) aggregate principal amount of 7.625% senior secured notes (the UPCB Finance I Notes), (b) €560.0 million ($600.8 million) of the outstanding principal amount of Facility Y under the UPC Broadband Holding Bank Facility, together with accrued and unpaid interest and the related prepayment premium to UPCB Finance II Limited (UPCB Finance II) and, in turn UPCB Finance II used such proceeds to redeem €560.0 million ($600.8 million) of its €750.0 million ($804.6 million) aggregate principal amount of 6.375% senior secured notes (the UPCB Finance II Notes) and (c) the remaining €870.2 million ($933.6 million) outstanding principal amount of Facility AG under the UPC Broadband Holding Bank Facility, together with accrued and unpaid interest. In connection with these transactions, we recognized a loss on debt modification and extinguishment, net, of $74.7 million. This loss includes (1) the payment of $53.5 million of redemption premium, (2) the write-off of $16.5 million of deferred financing costs and (3) the write-off of $4.7 million of unamortized discount. | ||||||||||||||||||||||||||||
For information regarding certain financing transactions completed subsequent to March 31, 2015 that impact the UPC Broadband Holding Bank Facility, see note 15. | ||||||||||||||||||||||||||||
UPC Holding Senior Notes | ||||||||||||||||||||||||||||
The details of the UPC Holding Senior Notes as of March 31, 2015 are summarized in the following table: | ||||||||||||||||||||||||||||
Outstanding principal | ||||||||||||||||||||||||||||
amount | ||||||||||||||||||||||||||||
UPC Holding Senior Notes | Maturity | Borrowing | U.S. $ | Estimated | Carrying | |||||||||||||||||||||||
currency | equivalent | fair value | value (a) | |||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||||||
UPC Holding 6.375% Senior Notes | 15-Sep-22 | € | 600 | $ | 643.7 | $ | 693.6 | $ | 639 | |||||||||||||||||||
UPC Holding 6.75% Euro Senior Notes | 15-Mar-23 | € | 450 | 482.8 | 528.9 | 482.8 | ||||||||||||||||||||||
UPC Holding 6.75% CHF Senior Notes | March 15, 2023 | CHF | 350 | 359.7 | 397.3 | 359.7 | ||||||||||||||||||||||
Total | $ | 1,486.20 | $ | 1,619.80 | $ | 1,481.50 | ||||||||||||||||||||||
_______________ | ||||||||||||||||||||||||||||
(a) | The carrying value of the UPC Holding 6.375% Senior Notes includes the impact of a discount. | |||||||||||||||||||||||||||
Refinancing Transaction. During the first quarter of 2015, in connection with the UPC Ireland Transfer, UPC Holding used proceeds received to redeem in full the €640.0 million ($686.6 million) principal amount of 8.375% senior notes due August 15, 2020 (the UPC Holding 8.375% Senior Notes). In connection with this transaction, we recognized a loss on debt modification and extinguishment, net, of $69.3 million, including (i) the payment of $59.2 million of redemption premium and (ii) the write-off of $10.1 million of deferred financing costs. | ||||||||||||||||||||||||||||
UPCB SPE Notes | ||||||||||||||||||||||||||||
The details of the UPCB SPE Notes as of March 31, 2015 are summarized in the following table: | ||||||||||||||||||||||||||||
Outstanding principal | ||||||||||||||||||||||||||||
amount | ||||||||||||||||||||||||||||
UPCB SPEs | Maturity | Interest rate | Borrowing | U.S. $ | Estimated | Carrying | ||||||||||||||||||||||
currency | equivalent | fair value | value | |||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||||||
UPCB Finance II Notes | July 1, 2020 | 6.38% | € | 190 | $ | 203.8 | $ | 212.5 | $ | 203.8 | ||||||||||||||||||
UPCB Finance III Notes | July 1, 2020 | 6.63% | $ | 1,000.00 | 1,000.00 | 1,042.50 | 1,000.00 | |||||||||||||||||||||
UPCB Finance V Notes | November 15, 2021 | 7.25% | $ | 750 | 750 | 810 | 750 | |||||||||||||||||||||
UPCB Finance VI Notes | January 15, 2022 | 6.88% | $ | 750 | 750 | 807.2 | 750 | |||||||||||||||||||||
Total | $ | 2,703.80 | $ | 2,872.20 | $ | 2,703.80 | ||||||||||||||||||||||
For information regarding certain financing transactions completed subsequent to March 31, 2015 that impact the UPCB SPE Notes, see note 15. | ||||||||||||||||||||||||||||
Maturities of Debt and Capital Lease Obligations | ||||||||||||||||||||||||||||
Maturities of our debt and capital lease obligations as of March 31, 2015 are presented below for the named entity and its subsidiaries, unless otherwise noted. Amounts presented below represent U.S. dollar equivalents based on March 31, 2015 exchange rates: | ||||||||||||||||||||||||||||
Debt: | ||||||||||||||||||||||||||||
Virgin Media | Ziggo Group Holding (a) | Unitymedia | UPC | Telenet (c) | Other | Total | ||||||||||||||||||||||
Holding (b) | ||||||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||||||
Year ending December 31: | ||||||||||||||||||||||||||||
2015 (remainder of year) | $ | 268.1 | $ | — | $ | 110 | $ | 572.1 | $ | 7.9 | $ | 26.2 | $ | 984.3 | ||||||||||||||
2016 | 11.9 | 3.6 | 14.4 | 83 | 7.9 | 362.2 | 483 | |||||||||||||||||||||
2017 | — | — | — | — | 7.9 | 879.6 | 887.5 | |||||||||||||||||||||
2018 | — | — | — | — | 7.9 | 236.1 | 244 | |||||||||||||||||||||
2019 | — | — | — | — | 18.1 | — | 18.1 | |||||||||||||||||||||
2020 | 2,355.00 | 76.9 | — | 1,203.80 | 548.4 | — | 4,184.10 | |||||||||||||||||||||
Thereafter | 11,496.20 | 7,719.60 | 7,250.80 | 4,291.30 | 3,036.00 | 2,075.00 | 35,868.90 | |||||||||||||||||||||
Total debt maturities | 14,131.20 | 7,800.10 | 7,375.20 | 6,150.20 | 3,634.10 | 3,579.10 | 42,669.90 | |||||||||||||||||||||
Unamortized premium (discount) | 19.9 | 24.4 | — | (7.6 | ) | (2.9 | ) | (28.1 | ) | 5.7 | ||||||||||||||||||
Total debt | $ | 14,151.10 | $ | 7,824.50 | $ | 7,375.20 | $ | 6,142.60 | $ | 3,631.20 | $ | 3,551.00 | $ | 42,675.60 | ||||||||||||||
Current portion (d) | $ | 281.9 | $ | 3.6 | $ | 124.4 | $ | 655.2 | $ | 7.9 | $ | 39.8 | $ | 1,112.80 | ||||||||||||||
Noncurrent portion | $ | 13,869.20 | $ | 7,820.90 | $ | 7,250.80 | $ | 5,487.40 | $ | 3,623.30 | $ | 3,511.20 | $ | 41,562.80 | ||||||||||||||
_______________ | ||||||||||||||||||||||||||||
(a) | Amounts include the Ziggo SPE Notes issued by the Ziggo SPEs. As described above, the Ziggo SPEs are consolidated by Ziggo Group Holding. | |||||||||||||||||||||||||||
(b) | Amounts include the UPCB SPE Notes issued by the UPCB SPEs. As described above, the UPCB SPEs are consolidated by UPC Holding. | |||||||||||||||||||||||||||
(c) | Amounts include certain senior secured notes issued by special purpose financing entities that are consolidated by Telenet. | |||||||||||||||||||||||||||
(d) | The outstanding principal amounts of our subsidiaries’ revolving credit facilities are included in our current debt maturities. | |||||||||||||||||||||||||||
Capital lease obligations: | ||||||||||||||||||||||||||||
Unitymedia | Telenet | Virgin Media | Other | Total | ||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||||||
Year ending December 31: | ||||||||||||||||||||||||||||
2015 (remainder of year) | $ | 59 | $ | 48.1 | $ | 88.2 | $ | 19.7 | $ | 215 | ||||||||||||||||||
2016 | 78.7 | 57.9 | 71.2 | 21.4 | 229.2 | |||||||||||||||||||||||
2017 | 78.7 | 56.2 | 33.4 | 16.4 | 184.7 | |||||||||||||||||||||||
2018 | 78.7 | 54.2 | 10.2 | 9.8 | 152.9 | |||||||||||||||||||||||
2019 | 78.7 | 44.9 | 5.2 | 6.5 | 135.3 | |||||||||||||||||||||||
2020 | 78.7 | 42.4 | 4.2 | 5.6 | 130.9 | |||||||||||||||||||||||
Thereafter | 777.5 | 191.9 | 207.5 | 43.5 | 1,220.40 | |||||||||||||||||||||||
Total principal and interest payments | 1,230.00 | 495.6 | 419.9 | 122.9 | 2,268.40 | |||||||||||||||||||||||
Amounts representing interest | (517.5 | ) | (127.7 | ) | (188.6 | ) | (26.9 | ) | (860.7 | ) | ||||||||||||||||||
Present value of net minimum lease payments | $ | 712.5 | $ | 367.9 | $ | 231.3 | $ | 96 | $ | 1,407.70 | ||||||||||||||||||
Current portion | $ | 24.6 | $ | 36.9 | $ | 99.3 | $ | 19.2 | $ | 180 | ||||||||||||||||||
Noncurrent portion | $ | 687.9 | $ | 331 | $ | 132 | $ | 76.8 | $ | 1,227.70 | ||||||||||||||||||
Non-cash Refinancing Transactions | ||||||||||||||||||||||||||||
During the three months ended March 31, 2015 and 2014, certain of our refinancing transactions included non-cash borrowings and repayments of debt aggregating $1,484.3 million and $1,375.5 million, respectively. |
Income_Taxes
Income Taxes | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Accrued Income Taxes [Abstract] | ||||||||
Income Taxes | Income Taxes | |||||||
Income tax benefit attributable to our loss from continuing operations before income taxes differs from the amounts computed using the applicable income tax rate as a result of the following factors: | ||||||||
Three months ended | ||||||||
March 31, | ||||||||
2015 | 2014 | |||||||
in millions | ||||||||
Computed “expected” tax benefit (a) | $ | 121.4 | $ | 115.5 | ||||
Change in valuation allowances (b): | ||||||||
Decrease | (226.0 | ) | (55.2 | ) | ||||
Increase | 1 | 4.9 | ||||||
International rate differences (b) (c): | ||||||||
Increase | 91.3 | 57.4 | ||||||
Decrease | (12.4 | ) | (6.2 | ) | ||||
Non-deductible or non-taxable foreign currency exchange results (b): | ||||||||
Increase | 69.5 | 2.1 | ||||||
Decrease | (8.7 | ) | (7.4 | ) | ||||
Tax effect of intercompany financing | 38.2 | 40.5 | ||||||
Non-deductible or non-taxable interest and other expenses (b): | ||||||||
Decrease | (33.7 | ) | (31.0 | ) | ||||
Increase | 11.2 | 15 | ||||||
Basis and other differences in the treatment of items associated with investments in subsidiaries and affiliates (b): | ||||||||
Increase | 14.5 | 0.5 | ||||||
Decrease | (1.0 | ) | (49.6 | ) | ||||
Recognition of previously unrecognized tax benefits | 8.9 | 28.8 | ||||||
Other, net | 3.7 | 1.7 | ||||||
Total income tax benefit | $ | 77.9 | $ | 117 | ||||
_______________ | ||||||||
(a) | The statutory or “expected” tax rates are the U.K. rates of 20.25% and 21.5% for the three months ended March 31, 2015 and 2014, respectively. A further decline to 20.0% occurred in April 2015. The estimated impact of this decline was reflected in our deferred tax balances in the third quarter of 2013, the quarter in which the scheduled tax rate changes in the U.K. were enacted. | |||||||
(b) | Country jurisdictions giving rise to increases are grouped together and shown separately from country jurisdictions giving rise to decreases. | |||||||
(c) | Amounts reflect adjustments (either an increase or a decrease) to “expected” tax benefit for statutory rates in jurisdictions in which we operate outside of the U.K. | |||||||
As of March 31, 2015, our unrecognized tax benefits of $484.3 million included $266.1 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. In the U.S., the consolidated income tax returns of Liberty Global, Inc. (LGI) for 2009 through 2015 are under examination and the Internal Revenue Service (IRS) notified us of proposed adjustments to (i) the 2013 taxable income of LGI during the second quarter of 2015 and (ii) the 2010 and 2009 taxable income of LGI during the fourth quarter of 2013. We have entered into the appeals process with the IRS with respect to the proposed adjustments to LGI’s 2010 and 2009 taxable income. While we believe that the resolution of these proposed adjustments to LGI’s 2013, 2010 and 2009 taxable income will not have a material impact on our consolidated financial position, results of operations or cash flows, no assurance can be given that this will be the case given the amounts involved and the complex nature of the related issues. During the next 12 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 March 31, 2015. The amount of any such reductions could range up to $250 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 12 months. No assurance can be given as to the nature or impact of any changes in our unrecognized tax positions during the next 12 months. |
Equity
Equity | 3 Months Ended |
Mar. 31, 2015 | |
Equity [Abstract] | |
Equity | Equity |
Share Repurchases | |
During the three months ended March 31, 2015, we purchased a total of 9,781,810 Liberty Global Class C ordinary shares at a weighted average price of $48.87 per share, for an aggregate purchase price of $478.1 million, including direct acquisition costs and the effects of derivative instruments. At March 31, 2015, the remaining amount authorized for share repurchases was $3,458.1 million. |
Sharebased_Compensation
Share-based Compensation | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
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 March 31, | ||||||||
2015 | 2014 | |||||||
in millions | ||||||||
Liberty Global shares: | ||||||||
Performance-based incentive awards (a) | $ | 42.1 | $ | 20.6 | ||||
Other share-based incentive awards | 25.4 | 30.2 | ||||||
Total Liberty Global shares | 67.5 | 50.8 | ||||||
Telenet share-based incentive awards | 3.2 | 2.9 | ||||||
Other | 0.7 | 1.4 | ||||||
Total | $ | 71.4 | $ | 55.1 | ||||
Included in: | ||||||||
Operating expense | $ | 0.7 | $ | 1.3 | ||||
SG&A expense | 70.7 | 53.8 | ||||||
Total | $ | 71.4 | $ | 55.1 | ||||
_______________ | ||||||||
(a) | Includes share-based compensation expense related to (i) Liberty Global performance-based restricted share units (PSUs), (ii) a challenge performance award plan for certain executive officers and key employees (the Challenge Performance Awards) and (iii) for the 2015 period, the Performance Grant Units (PGUs). The Challenge Performance Awards include performance-based share appreciation rights (PSARs) and PSUs. | |||||||
Restructuring_Liability
Restructuring Liability | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Restructuring and Related Activities [Abstract] | |||||||||||||||||
Restructuring Liability | Restructuring Liability | ||||||||||||||||
A summary of the changes in our restructuring liability during the three months ended March 31, 2015 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, 2015 | $ | 27.6 | $ | 12.5 | $ | 116 | $ | 156.1 | |||||||||
Restructuring charges | 13.4 | (0.8 | ) | 3 | 15.6 | ||||||||||||
Cash paid | (12.1 | ) | (1.1 | ) | (7.4 | ) | (20.6 | ) | |||||||||
Foreign currency translation adjustments and other | (1.1 | ) | 1.5 | (9.5 | ) | (9.1 | ) | ||||||||||
Restructuring liability as of March 31, 2015 | $ | 27.8 | $ | 12.1 | $ | 102.1 | $ | 142 | |||||||||
Current portion | $ | 27.7 | $ | 3.4 | $ | 17.6 | $ | 48.7 | |||||||||
Noncurrent portion | 0.1 | 8.7 | 84.5 | 93.3 | |||||||||||||
Total | $ | 27.8 | $ | 12.1 | $ | 102.1 | $ | 142 | |||||||||
Our restructuring charges during the three months ended March 31, 2015 include employee severance and termination costs related to certain reorganization and integration activities of $8.1 million in our Switzerland/Austria segment and $2.4 million and $1.6 million in Puerto Rico and the Netherlands, respectively. We expect to record further restructuring charges during the remainder of 2015 in connection with the continued integration of Ziggo with UPC Nederland and the European Operations Division. |
Earnings_or_Loss_per_Ordinary_
Earnings or Loss per Ordinary Share | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
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, share appreciation rights (SARs), PSARs, restricted share units (RSUs) and convertible securities) as if they had been exercised, vested or converted at the beginning of the periods presented. | ||||||||
The details of our loss attributable to Liberty Global shareholders are set forth below: | ||||||||
Three months ended | ||||||||
March 31, | ||||||||
2015 | 2014 | |||||||
in millions | ||||||||
Amounts attributable to Liberty Global shareholders: | ||||||||
Loss from continuing operations | $ | (537.5 | ) | $ | (419.5 | ) | ||
Earnings from discontinued operation | — | 340.7 | ||||||
Net loss attributable to Liberty Global shareholders | $ | (537.5 | ) | $ | (78.8 | ) | ||
We reported losses from continuing operations attributable to Liberty Global shareholders for the three months ended March 31, 2015 and 2014. Therefore, the potentially dilutive effect at March 31, 2015 and 2014 of (i) the aggregate number of shares issuable pursuant to outstanding options, SARs, PSARs and RSUs of approximately 36.1 million and 37.9 million, respectively, (ii) the number of shares issuable pursuant to PSUs and PGUs of approximately 4.7 million and 3.3 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 because their inclusion would have been anti-dilutive to the computation or, in the case of certain PSUs, because such awards had not yet met the applicable performance criteria. |
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended | |||||||||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||||||||
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 March 31, 2015 are presented below: | ||||||||||||||||||||||||||||||||
Payments due during: | ||||||||||||||||||||||||||||||||
Remainder | ||||||||||||||||||||||||||||||||
of 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | Thereafter | Total | |||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||||||||||
Programming commitments | $ | 626.2 | $ | 772.8 | $ | 613.8 | $ | 530 | $ | 231.6 | $ | 1.6 | $ | 0.3 | $ | 2,776.30 | ||||||||||||||||
Network and connectivity commitments | 265.3 | 249.1 | 228 | 120.2 | 84.9 | 60.5 | 873.2 | 1,881.20 | ||||||||||||||||||||||||
Purchase commitments | 800.8 | 116.8 | 56.8 | 11.3 | 3.9 | — | — | 989.6 | ||||||||||||||||||||||||
Operating leases | 128.7 | 138.9 | 116.1 | 97.7 | 76.4 | 45.2 | 245.6 | 848.6 | ||||||||||||||||||||||||
Other commitments | 272.2 | 180 | 138.9 | 82.9 | 42.5 | 21.5 | 26.6 | 764.6 | ||||||||||||||||||||||||
Total (a) | $ | 2,093.20 | $ | 1,457.60 | $ | 1,153.60 | $ | 842.1 | $ | 439.3 | $ | 128.8 | $ | 1,145.70 | $ | 7,260.30 | ||||||||||||||||
_______________ | ||||||||||||||||||||||||||||||||
(a) | The commitments reflected in this table do not reflect any liabilities that are included in our March 31, 2015 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 sports services. In addition, programming commitments do not include increases in future periods associated with contractual inflation or other price adjustments that are not fixed. 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 three months ended March 31, 2015 and 2014, the third-party programming and copyright costs incurred by our broadband communications and direct-to-home (DTH) operations aggregated $557.5 million and $517.0 million, respectively. | ||||||||||||||||||||||||||||||||
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. Subsequent to October 1, 2015, Telenet’s commitments for certain operating costs will be 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 are not reflected in the above table. For information regarding our commitments under acquisition agreements, see notes 3 and 15. | ||||||||||||||||||||||||||||||||
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 regarding our derivative instruments, including the net cash paid or received in connection with these instruments during the three months ended March 31, 2015 and 2014, see note 4. | ||||||||||||||||||||||||||||||||
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 was required to follow the interpretation given by the European Court of Justice with respect to the points of EU law. 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 may now resume the civil proceedings that are still pending with the Court of Appeal of Antwerp 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 ($21.5 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 filed a lawsuit against Telekom Deutschland GmbH (Deutsche Telekom), an operating subsidiary of Deutsche Telekom AG, in which Unitymedia asserts that it pays excessive prices for the co-use of Deutsche Telekom’s cable ducts in Unitymedia’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 is seeking a reduction of the annual lease fees (approximately €76 million ($82 million) for 2012) by approximately two-thirds and the return of similarly calculated overpayments from 2009 through the ultimate settlement date, plus accrued interest. While we expect a decision by the court of first instance during 2015, the resolution of this matter may take several years and no assurance can be given that Unitymedia’s claims will be successful. Any recovery by Unitymedia 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 Studios. 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 ($1,013 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 previously asserted by the incumbent telephone operator against OneLink based on alleged conduct of OneLink that occurred prior to the OneLink Acquisition (the PRTC Claim). This claim included an allegation 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 March 2014, a separate class action claim was filed in Puerto Rico (the Class Action Claim) containing allegations substantially similar to those asserted in the PRTC Claim, but alleging ongoing injury on behalf of a consumer class (as opposed to harm to a competitor). 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. | ||||||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||||||
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, and the Belgium Regulatory Authorities published the final decision on September 9, 2013. 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 wireless operator Mobistar SA (Mobistar). In addition, as a result of the November 2014 decision by the Brussels Court of Appeal described below, on November 14, 2014, Belgacom submitted a request to Telenet to commence access negotiations. Telenet contests this request and has asked the Belgium Regulatory Authorities to assess the reasonableness of the Belgacom request. The timing for a decision regarding this assessment by the Belgium Regulatory Authorities is not known. | ||||||||||||||||||||||||||||||||
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 November 12, 2014, the Brussels Court of Appeal rejected Telenet’s appeal of the July 2011 Decision and accepted Belgacom’s claim that Belgacom should be allowed access to Telenet’s, among other operators, digital television platform and the resale of bundles of digital video and broadband internet services. Telenet is currently considering the possibility to file an appeal against this decision with the Belgian Supreme Court. Telenet also filed an appeal with the Brussels Court of Appeal against the decision regarding 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 2015. 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 2011 acquisition (the KBW Acquisition) of the German cable network Kabel BW GmbH (KBW) was subject to the approval of The Federal Cartel Office (the 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 FCO Appeals) against the FCO regarding its decision to approve our KBW Acquisition. On August 14, 2013, the Düsseldorf Court of Appeal issued a ruling that set aside the FCO’s clearance decision. | ||||||||||||||||||||||||||||||||
During the fourth quarter of 2014, we, together with our German subsidiaries, entered into agreements with the Appellants pursuant to which the Appellants withdrew the FCO Appeals and, on January 21, 2015, the FCO consented to the withdrawal. On March 15, 2015, the Federal Court of Justice terminated the proceedings, as a result of which the FCO’s clearance decision with respect to our KBW Acquisition became final (without any additional review or conditions). On April 29, 2015, we paid the Appellants an aggregate amount of €183.5 million ($196.9 million), in satisfaction of the provision that we recorded during the fourth quarter of 2014. We consider this matter to be closed. | ||||||||||||||||||||||||||||||||
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 (the 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 our understanding of the current status of the potential FTT, we do not expect that any implementation of the FTT would occur before 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 Matters. Virgin Media’s application of the 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 £42.2 million ($62.6 million) as of March 31, 2015. 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 prior to September 30, 2015. | ||||||||||||||||||||||||||||||||
On March 19, 2014, the U.K. government announced a change in legislation with respect to the charging of VAT in connection with prompt payment discounts such as those that Virgin Media offers to its fixed-line telephony customers. The changes, which took effect on May 1, 2014, impacted Virgin Media and as a result of this legislation, Virgin Media’s revenue was £10.8 million ($16.0 million) lower during the first quarter of 2015, as compared to 2014. Recent correspondence from the U.K. government indicates that it may seek to challenge Virgin Media’s application of the prompt payment discount rules prior to the May 1, 2014 change in legislation. If such a challenge were to be issued by the U.K. government, Virgin Media could be required to make a payment of the challenged amount in order to make an appeal. Virgin Media currently estimates that the challenged amount could be up to approximately £65 million ($96 million) before any penalties or interest. Any challenge and subsequent appeal would likely be subject to court proceedings that could delay the ultimate resolution of this matter for an extended period of time. No portion of this potential exposure has been accrued by Virgin Media as no claim has been asserted or assessed and the likelihood of loss is not considered to be probable. | ||||||||||||||||||||||||||||||||
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 represented a significant reduction in the fixed-line termination rates currently charged by VTR, and VTR continued to recognize fixed-line interconnect revenue at the currently enacted rates. In February 2015, the Chilean regulatory authority revised its tariff proposal and, as this revised proposal was more in line with market rates, VTR recorded a $3.5 million reduction to its revenue during the first quarter of 2015, representing the impact of the revised tariff proposal from June 2012 through January 2015. Final resolution of the tariff-setting process in Chile is expected to occur during the first half of 2015. VTR believes that any difference between the revised tariff proposal and the final resolution will not be material. | ||||||||||||||||||||||||||||||||
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 | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
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 or 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 loss from continuing operations before income taxes is presented below. | ||||||||
During the fourth quarter of 2014, we began presenting (i) our operating segments in the U.K. and Ireland as one combined reportable segment, (ii) our operating segments in Switzerland and Austria as one combined reportable segment and (iii) our UPC DTH operating segment, as described below, as part of our Central and Eastern Europe reportable segment. These changes were made as a result of internal changes in organizational structures, changes in how these segments are evaluated and monitored by the chief operating decision maker and the integration of certain functions within these reportable segments. Previously, (a) our operating segments in the U.K. and Switzerland were each separate reportable segments, (b) our operating segments in Ireland and Austria were combined into one reportable segment, “Other Western Europe,” and (c) our UPC DTH operating segment was included in the European Operations Division’s central and other category. Segment information for all periods presented reflects the above-described changes. We present only the reportable segments of our continuing operations in the tables below. | ||||||||
As of March 31, 2015, our reportable segments are as follows: | ||||||||
• | European Operations Division: | |||||||
• | U.K./Ireland | |||||||
• | The Netherlands | |||||||
• | Germany | |||||||
• | Belgium | |||||||
• | Switzerland/Austria | |||||||
• | Central and Eastern Europe | |||||||
• | Chile | |||||||
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 all of our reportable segments provide mobile services. At March 31, 2015, 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.” In addition to UPC DTH, our Central and Eastern Europe segment includes our broadband communications operations in the Czech Republic, Hungary, Poland, Romania and Slovakia. The European Operations Division’s central and other category includes (i) costs associated with certain centralized functions, including billing systems, network operations, technology, marketing, facilities, finance and other administrative functions, and (ii) intersegment eliminations within the European Operations Division. In Chile, we provide video, broadband internet, fixed-line telephony and mobile services. 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 March 31, | ||||||||
2015 | 2014 | |||||||
in millions | ||||||||
European Operations Division: | ||||||||
U.K./Ireland | $ | 1,711.40 | $ | 1,847.50 | ||||
The Netherlands (a) | 707.4 | 318.1 | ||||||
Germany | 597.9 | 695.9 | ||||||
Belgium | 502.7 | 574.2 | ||||||
Switzerland/Austria | 439.3 | 463.8 | ||||||
Total Western Europe | 3,958.70 | 3,899.50 | ||||||
Central and Eastern Europe | 268.2 | 323.9 | ||||||
Central and other | (2.8 | ) | (0.8 | ) | ||||
Total European Operations Division | 4,224.10 | 4,222.60 | ||||||
Chile | 208.8 | 225.3 | ||||||
Corporate and other | 91.8 | 93.1 | ||||||
Intersegment eliminations (b) | (7.8 | ) | (7.3 | ) | ||||
Total | $ | 4,516.90 | $ | 4,533.70 | ||||
______________ | ||||||||
(a) | The amount presented for the 2014 period excludes the revenue of Ziggo, which was acquired on November 11, 2014. | |||||||
(b) | Amounts are primarily related to transactions between our European Operations Division and our continuing programming operations. | |||||||
Operating cash flow | ||||||||
Three months ended March 31, | ||||||||
2015 | 2014 | |||||||
in millions | ||||||||
European Operations Division: | ||||||||
U.K./Ireland | $ | 763.3 | $ | 791.6 | ||||
The Netherlands (a) | 367.9 | 183.3 | ||||||
Germany | 364 | 429 | ||||||
Belgium | 247 | 302.1 | ||||||
Switzerland/Austria | 248.8 | 264.4 | ||||||
Total Western Europe | 1,991.00 | 1,970.40 | ||||||
Central and Eastern Europe | 118.1 | 158.2 | ||||||
Central and other | (67.9 | ) | (70.9 | ) | ||||
Total European Operations Division | 2,041.20 | 2,057.70 | ||||||
Chile | 76 | 82.7 | ||||||
Corporate and other | (19.9 | ) | (16.9 | ) | ||||
Intersegment eliminations (b) | — | 4 | ||||||
Total | $ | 2,097.30 | $ | 2,127.50 | ||||
______________ | ||||||||
(a) | The amount presented for the 2014 period excludes the operating cash flow of Ziggo, which was acquired on November 11, 2014. | |||||||
(b) | The amount for the 2014 period is 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 loss from continuing operations before income taxes: | ||||||||
Three months ended March 31, | ||||||||
2015 | 2014 | |||||||
in millions | ||||||||
Total segment operating cash flow from continuing operations | $ | 2,097.30 | $ | 2,127.50 | ||||
Share-based compensation expense | (71.4 | ) | (55.1 | ) | ||||
Depreciation and amortization | (1,451.4 | ) | (1,377.1 | ) | ||||
Impairment, restructuring and other operating items, net | (17.0 | ) | (113.6 | ) | ||||
Operating income | 557.5 | 581.7 | ||||||
Interest expense | (615.9 | ) | (653.5 | ) | ||||
Realized and unrealized gains (losses) on derivative instruments, net | 618.5 | (376.6 | ) | |||||
Foreign currency transaction losses, net | (1,035.6 | ) | (20.8 | ) | ||||
Realized and unrealized gains (losses) due to changes in fair values of certain investments, net | 151.4 | (60.2 | ) | |||||
Losses on debt modification and extinguishment, net | (274.5 | ) | (20.9 | ) | ||||
Other income (expense), net | (1.0 | ) | 13.3 | |||||
Loss from continuing operations before income taxes | $ | (599.6 | ) | $ | (537.0 | ) | ||
Property and Equipment Additions of our Reportable Segments | ||||||||
The property and equipment additions of our reportable segments (including capital additions financed under vendor financing or capital lease arrangements) are presented below and reconciled to the capital expenditure amounts included in our condensed consolidated statements of cash flows. For additional information concerning capital additions financed under vendor financing and capital lease arrangements, see note 7. | ||||||||
Three months ended March 31, | ||||||||
2015 | 2014 | |||||||
in millions | ||||||||
European Operations Division: | ||||||||
U.K./Ireland | $ | 347.3 | $ | 369.3 | ||||
The Netherlands (a) | 120.8 | 52.2 | ||||||
Germany | 142.9 | 146 | ||||||
Belgium | 63.2 | 91.8 | ||||||
Switzerland/Austria | 56.6 | 73.8 | ||||||
Total Western Europe | 730.8 | 733.1 | ||||||
Central and Eastern Europe | 48.6 | 46.1 | ||||||
Central and other | 50.3 | 69.9 | ||||||
Total European Operations Division | 829.7 | 849.1 | ||||||
Chile | 40.4 | 45.3 | ||||||
Corporate and other | 54.8 | 15.8 | ||||||
Property and equipment additions | 924.9 | 910.2 | ||||||
Assets acquired under capital-related vendor financing arrangements | (295.0 | ) | (170.5 | ) | ||||
Assets acquired under capital leases | (62.0 | ) | (49.0 | ) | ||||
Changes in current liabilities related to capital expenditures | 93.3 | 44.3 | ||||||
Total capital expenditures | $ | 661.2 | $ | 735 | ||||
______________ | ||||||||
(a) | The amount presented for the 2014 period excludes the property and equipment additions of Ziggo, which was acquired on November 11, 2014. | |||||||
Revenue by Major Category | ||||||||
Our revenue by major category is set forth below: | ||||||||
Three months ended March 31, | ||||||||
2015 | 2014 | |||||||
in millions | ||||||||
Subscription revenue (a): | ||||||||
Video | $ | 1,607.90 | $ | 1,640.50 | ||||
Broadband internet | 1,239.20 | 1,143.90 | ||||||
Fixed-line telephony | 799.7 | 826.4 | ||||||
Cable subscription revenue | 3,646.80 | 3,610.80 | ||||||
Mobile subscription revenue (b) | 251.7 | 257.3 | ||||||
Total subscription revenue | 3,898.50 | 3,868.10 | ||||||
B2B revenue (c) | 373.9 | 367 | ||||||
Other revenue (b) (d) | 244.5 | 298.6 | ||||||
Total revenue | $ | 4,516.90 | $ | 4,533.70 | ||||
_______________ | ||||||||
(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 $54.4 million and $60.8 million during the three months ended March 31, 2015 and 2014, 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 $66.6 million and $52.0 million during the three months ended March 31, 2015 and 2014, respectively, is included in cable subscription revenue. | |||||||
(d) | Other revenue includes, among other items, interconnect, carriage fee, mobile handset and installation revenue. | |||||||
Geographic Segments | ||||||||
The revenue of our geographic segments is set forth below: | ||||||||
Three months ended March 31, | ||||||||
2015 | 2014 | |||||||
in millions | ||||||||
European Operations Division: | ||||||||
U.K. | $ | 1,612.00 | $ | 1,727.90 | ||||
The Netherlands (a) | 707.4 | 318.1 | ||||||
Germany | 597.9 | 695.9 | ||||||
Belgium | 502.7 | 574.2 | ||||||
Switzerland | 346.8 | 352.8 | ||||||
Poland | 101 | 120.5 | ||||||
Ireland | 99.4 | 119.6 | ||||||
Austria | 92.5 | 111 | ||||||
Hungary | 65 | 78.7 | ||||||
The Czech Republic | 44.4 | 58.8 | ||||||
Romania | 38.9 | 43.5 | ||||||
Slovakia | 15.2 | 19.2 | ||||||
Other | 0.9 | 2.4 | ||||||
Total European Operations Division | 4,224.10 | 4,222.60 | ||||||
Chile | 208.8 | 225.3 | ||||||
Puerto Rico | 79 | 74.7 | ||||||
Other, including intersegment eliminations | 5 | 11.1 | ||||||
Total | $ | 4,516.90 | $ | 4,533.70 | ||||
______________ | ||||||||
(a) | The amount presented for the 2014 period excludes the revenue of Ziggo, which was acquired on November 11, 2014. |
Subsequent_Events
Subsequent Events | 3 Months Ended | ||||
Mar. 31, 2015 | |||||
Subsequent Events [Abstract] | |||||
Subsequent Events | Subsequent Events | ||||
UPC Broadband Holding Refinancing Transactions | |||||
UPCB Finance IV Limited (UPCB Finance IV), a special purpose financing entity that is owned 100% by a charitable trust, was created for the primary purpose of facilitating the April 15, 2015 offering of (i) $800.0 million aggregate principal amount of 5.375% senior secured notes due January 15, 2025 (the UPCB Finance IV Dollar Notes) and (ii) €600.0 million ($643.7 million) aggregate principal amount of 4.0% senior secured notes due January 15, 2027 (the UPCB Finance IV Euro Notes and, together with the UPCB Finance IV Dollar Notes, the UPCB Finance IV Notes). | |||||
UPCB Finance IV, which has no material business operations, used the proceeds from (i) the UPCB Finance IV Dollar Notes to fund a new additional facility (Facility AL) and (ii) the UPCB Finance IV Euro Notes to fund a new additional facility (Facility AK and, together with Facility AL, the New Facilities), each under the UPC Broadband Holding Bank Facility, with UPC Financing as the borrower. The call provisions, maturity and applicable interest rate for Facility AL and Facility AK are the same as those of the UPCB Finance IV Dollar Notes and the UPCB Finance IV Euro Notes, respectively. | |||||
The proceeds of the New Facilities were used to (i) prepay the remaining €190.0 million ($203.8 million) outstanding principal amount of Facility Y under the UPC Broadband Holding Bank Facility, together with accrued and unpaid interest and the related prepayment premium, to UPCB Finance II and, in turn UPCB Finance II used such proceeds to fully redeem the remaining outstanding amount of its UPCB Finance II Notes, (ii) prepay the outstanding principal amount of Facility Z under the UPC Broadband Holding Bank Facility, together with accrued and unpaid interest and the related prepayment premium, to UPCB Finance III Limited (UPCB Finance III) and, in turn UPCB Finance III used such proceeds to fully redeem the UPCB Finance III Notes, (iii) redeem 10% of the outstanding principal amount of each of the following: (a) Facility AC under the UPC Broadband Holding Bank Facility, together with accrued and unpaid interest and the related prepayment premium, to UPCB Finance V Limited (UPCB Finance V) and, in turn UPCB Finance V used such proceeds to redeem 10% of the outstanding principal amount of the UPCB Finance V Notes and (b) Facility AD under the UPC Broadband Holding Bank Facility, together with accrued and unpaid interest and the related prepayment premium, to UPCB Finance VI Limited (UPCB Finance VI) and, in turn UPCB Finance VI used such proceeds to redeem 10% of the outstanding principal amount of the UPCB Finance VI Notes, each at a redemption price equal to 103% of the applicable redeemed principal amount in accordance with the indentures governing each of the notes, and (iv) repay the €200.0 million ($214.6 million) amount outstanding under Facility AI of the UPC Broadband Holding Bank Facility. | |||||
Subject to the circumstances described below, the UPCB Finance IV Dollar Notes are non-callable until January 15, 2020 and the UPCB Finance IV Euro Notes are non-callable until January 15, 2021 (each a UPCB Finance IV Notes Call Date). If, however, at any time prior to the applicable UPCB Finance IV Notes Call Date, all or a portion of the loans under the New Facilities are voluntarily prepaid (an Early Redemption Event), then UPCB Finance IV will be required to redeem an aggregate principal amount of the applicable UPCB Finance IV Notes equal to the aggregate principal amount of the loans so prepaid under the relevant New Facility. In general, the redemption price payable will equal 100% of the principal amount of the applicable UPCB Finance IV Notes to be redeemed and a “make-whole” premium, which is the present value of all remaining scheduled interest payments to the applicable UPCB Finance IV Notes Call Date using the discount rate (as specified in the indenture) as of the redemption date plus 50 basis points. | |||||
Upon the occurrence of an Early Redemption Event on or after the applicable UPCB Finance IV Notes Call Date, UPCB Finance IV will redeem an aggregate principal amount of the UPCB Finance IV Notes equal to the principal amount of the related facility prepaid at the following redemption prices (expressed as a percentage of the principal amount), plus accrued and unpaid interest and additional amounts, (as specified in the applicable indenture), if any, to the applicable redemption date, if redeemed during the 12-month period commencing on January 15 of the years set forth below: | |||||
Redemption price | |||||
Year | UPCB Finance IV Dollar Notes | UPCB Finance IV Euro Notes | |||
2020 | 102.69% | N.A. | |||
2021 | 101.79% | 102.00% | |||
2022 | 100.90% | 101.00% | |||
2023 | 100.00% | 100.50% | |||
2024 and thereafter | 100.00% | 100.00% | |||
If there is a change in control (as specified in the indenture) under the UPC Broadband Holding Bank Facility, UPCB Finance IV must offer to repurchase the UPCB Finance IV Notes at a redemption price of 101%. | |||||
Prior to the applicable UPCB Finance IV Notes Call Date, during each 12-month period commencing on the date on which the UPCB Finance IV Notes were issued, UPCB Finance IV may redeem up to 10% of the principal amount of the UPCB Finance IV Notes at a redemption price of 103% of the principal amount of the relevant UPCB Finance IV Notes plus accrued and unpaid interest up to (but excluding) the redemption date. | |||||
Virgin Media Refinancing Transactions | |||||
On April 30, 2015, Virgin Media Secured Finance issued the Additional 2026 VM Senior Secured Notes. For additional information, see note 7. | |||||
Pending Acquisition of BASE | |||||
On April 18, 2015, Telenet entered into a definitive agreement (the BASE Agreement) to acquire BASE Company NV (BASE) for a purchase price of €1,324.4 million ($1,420.9 million). BASE is the third-largest mobile network operator in Belgium. We expect that this acquisition will provide Telenet with cost-effective long-term mobile access to effectively compete for future growth opportunities in the Belgium mobile market. Telenet intends to finance the acquisition of BASE through a combination of €1.0 billion ($1,072.8 million) of new debt facilities and existing liquidity. The acquisition of BASE is subject to customary closing conditions, including merger approval from the relevant competition authorities, and is expected to close by the end of March 2016. The BASE Agreement provides that in the event the relevant competition authorities fail to approve the transaction, Telenet would be required to pay the seller a termination fee of €100.0 million ($107.3 million). |
Acquisitions_Tables
Acquisitions (Tables) (Ziggo Acquisition [Member]) | 3 Months Ended | |||
Mar. 31, 2015 | ||||
Ziggo 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. | |||
Three months ended March 31, 2014 | ||||
in millions, except per share amount | ||||
Revenue: | ||||
Continuing operations | $ | 5,069.30 | ||
Discontinued operation | 26.6 | |||
Total | $ | 5,095.90 | ||
Net loss attributable to Liberty Global shareholders | $ | (264.7 | ) | |
Basic and diluted loss attributable to Liberty Global shareholders per share | $ | (0.29 | ) |
Derivative_Instruments_Tables
Derivative Instruments (Tables) | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||
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: | |||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | |||||||||||||||||||||||
Current | Long-term (a) | Total | Current | Long-term (a) | Total | |||||||||||||||||||
in millions | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Cross-currency and interest rate derivative contracts (b) | $ | 224.5 | $ | 2,014.60 | $ | 2,239.10 | $ | 443.6 | $ | 913.7 | $ | 1,357.30 | ||||||||||||
Equity-related derivative instruments (c) | — | 389 | 389 | — | 400.2 | 400.2 | ||||||||||||||||||
Foreign currency forward contracts | 5.3 | — | 5.3 | 2.5 | — | 2.5 | ||||||||||||||||||
Other | 1.1 | 1.3 | 2.4 | 0.5 | 0.9 | 1.4 | ||||||||||||||||||
Total | $ | 230.9 | $ | 2,404.90 | $ | 2,635.80 | $ | 446.6 | $ | 1,314.80 | $ | 1,761.40 | ||||||||||||
Liabilities: | ||||||||||||||||||||||||
Cross-currency and interest rate derivative contracts (b) | $ | 362.3 | $ | 1,550.80 | $ | 1,913.10 | $ | 1,027.40 | $ | 1,443.90 | $ | 2,471.30 | ||||||||||||
Equity-related derivative instruments (c) | 13.6 | 178.5 | 192.1 | 15.3 | 73.1 | 88.4 | ||||||||||||||||||
Foreign currency forward contracts | 14.7 | — | 14.7 | 0.8 | — | 0.8 | ||||||||||||||||||
Other | 0.2 | 0.1 | 0.3 | 0.2 | 0.1 | 0.3 | ||||||||||||||||||
Total | $ | 390.8 | $ | 1,729.40 | $ | 2,120.20 | $ | 1,043.70 | $ | 1,517.10 | $ | 2,560.80 | ||||||||||||
_______________ | ||||||||||||||||||||||||
(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 March 31, 2015 and December 31, 2014, (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 $78.1 million and $30.9 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 $90.5 million and $64.6 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 net losses of $16.9 million and $29.5 million during the three months ended March 31, 2015 and 2014, 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 regarding our fair value measurements, see note 5. | |||||||||||||||||||||||
(c) | Our equity-related derivative instruments include the fair value of (i) the share collar (the ITV Collar) with respect to the ITV plc (ITV) shares held by our company at March 31, 2015, (ii) the share collar (the Sumitomo Collar) with respect to the shares of Sumitomo Corporation held by our company and (iii) Virgin Media’s conversion hedges (the Virgin Media Capped Calls) with respect to Virgin Media’s 6.50% convertible senior notes. The fair values of our equity collars do not include credit risk valuation adjustments as we assume 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 related secured borrowing arrangements. | |||||||||||||||||||||||
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 | ||||||||||||||||||||||||
March 31, | ||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Cross-currency and interest rate derivative contracts | $ | 740.5 | $ | (420.2 | ) | |||||||||||||||||||
Equity-related derivative instruments: | ||||||||||||||||||||||||
ITV Collar | (105.4 | ) | — | |||||||||||||||||||||
Sumitomo Collar | (10.1 | ) | 8.5 | |||||||||||||||||||||
Virgin Media Capped Calls | 0.6 | 0.2 | ||||||||||||||||||||||
Ziggo Collar | — | 15.4 | ||||||||||||||||||||||
Total equity-related derivative instruments | (114.9 | ) | 24.1 | |||||||||||||||||||||
Foreign currency forward contracts | (8.1 | ) | 20 | |||||||||||||||||||||
Other | 1 | (0.5 | ) | |||||||||||||||||||||
Total | $ | 618.5 | $ | (376.6 | ) | |||||||||||||||||||
Schedule of Cash Received (Paid) Related to Derivative Instruments Statement of Cash Flows Location | 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) is as follows: | |||||||||||||||||||||||
Three months ended | ||||||||||||||||||||||||
March 31, | ||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
Operating activities | $ | (137.8 | ) | $ | (210.8 | ) | ||||||||||||||||||
Investing activities | 2.6 | — | ||||||||||||||||||||||
Financing activities | (486.5 | ) | (98.2 | ) | ||||||||||||||||||||
Total | $ | (621.7 | ) | $ | (309.0 | ) | ||||||||||||||||||
Cross-currency and interest rate derivative contracts | ||||||||||||||||||||||||
Derivative [Line Items] | ||||||||||||||||||||||||
Schedule of Derivative Instruments | The terms of our outstanding cross-currency swap contracts at March 31, 2015 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: | ||||||||||||||||||||||||
Jan-23 | $ | 400 | € | 339.6 | 5.75% | 4.33% | ||||||||||||||||||
Feb-22 | $ | 1,400.00 | £ | 873.6 | 5.01% | 5.49% | ||||||||||||||||||
Oct-20 | $ | 1,370.40 | £ | 881.6 | 6 mo. LIBOR + 2.75% | 6 mo. GBP LIBOR + 3.10% | ||||||||||||||||||
Jun-20 | $ | 984.6 | £ | 640.1 | 6 mo. LIBOR + 2.75% | 6 mo. GBP LIBOR + 3.18% | ||||||||||||||||||
Jan-21 | $ | 500 | £ | 308.9 | 5.25% | 6 mo. GBP LIBOR + 2.06% | ||||||||||||||||||
Jan-23 | $ | 500 | £ | 325.1 | 5.25% | 5.26% | ||||||||||||||||||
Oct-22 | $ | 450 | £ | 272 | 6.00% | 6.43% | ||||||||||||||||||
Jan-22 | $ | 425 | £ | 255.8 | 5.50% | 5.82% | ||||||||||||||||||
Apr-19 | $ | 191.5 | £ | 122.3 | 5.38% | 5.49% | ||||||||||||||||||
November 2016 (a) | $ | 55 | £ | 27.7 | 6.50% | 7.03% | ||||||||||||||||||
Oct-19 | $ | 50 | £ | 30.3 | 8.38% | 8.98% | ||||||||||||||||||
October 2019 - October 2022 | $ | 50 | £ | 30.7 | 6.00% | 5.75% | ||||||||||||||||||
UPC Broadband Holding BV (UPC Broadband Holding), a subsidiary of UPC Holding BV (UPC Holding): | ||||||||||||||||||||||||
July 2016 (a) | $ | 575 | € | 434.1 | 6 mo. LIBOR + 2.40% | 3.78% | ||||||||||||||||||
July 2016 - July 2018 | $ | 575 | € | 434.1 | 6 mo. LIBOR + 2.40% | 6.68% | ||||||||||||||||||
Jul-21 | $ | 440 | € | 337.2 | 6 mo. LIBOR + 2.50% | 6 mo. EURIBOR + 2.87% | ||||||||||||||||||
Jan-20 | $ | 327.5 | € | 249.5 | 6 mo. LIBOR + 4.92% | 7.52% | ||||||||||||||||||
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% | ||||||||||||||||||
Jul-18 | $ | 250 | € | 188.7 | 6 mo. LIBOR + 1.75% | 5.91% | ||||||||||||||||||
Nov-19 | $ | 250 | € | 181.5 | 7.25% | 7.74% | ||||||||||||||||||
Nov-21 | $ | 250 | € | 181.4 | 7.25% | 7.50% | ||||||||||||||||||
Jan-20 | $ | 197.5 | € | 150.5 | 6 mo. LIBOR + 4.92% | 6 mo. EURIBOR + 4.91% | ||||||||||||||||||
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% | ||||||||||||||||||
July 2016 (a) | $ | 225 | CHF | 206.3 | 6 mo. LIBOR + 4.81% | 1.00% | ||||||||||||||||||
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 | ||||||||||||||||||||||||
July 2016 - January 2020 | $ | 225 | CHF | 206.3 | 6 mo. LIBOR + 4.81% | 5.44% | ||||||||||||||||||
Jul-21 | $ | 200 | CHF | 186 | 6 mo. LIBOR + 2.50% | 6 mo. CHF LIBOR + 2.55% | ||||||||||||||||||
July 2016 (a) | $ | 201.5 | RON | 489.3 | 6 mo. LIBOR + 3.50% | 1.40% | ||||||||||||||||||
July 2016 - July 2020 | $ | 201.5 | RON | 489.3 | 6 mo. LIBOR + 3.50% | 11.34% | ||||||||||||||||||
Jan-21 | € | 720.8 | CHF | 877 | 6 mo. EURIBOR + 2.50% | 6 mo. CHF LIBOR + 2.62% | ||||||||||||||||||
January 2017 - September 2022 | € | 383.8 | CHF | 477 | 6 mo. EURIBOR + 2.00% | 6 mo. CHF LIBOR + 2.22% | ||||||||||||||||||
Jan-17 | € | 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-21 | € | 161.4 | CHF | 187.1 | 6 mo. EURIBOR + 2.35% | 6 mo. CHF LIBOR + 2.76% | ||||||||||||||||||
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-15 | € | 69.1 | CLP | 53,000.00 | 3.50% | 5.75% | ||||||||||||||||||
Jan-20 | € | 318.9 | CZK | 8,818.70 | 5.58% | 5.44% | ||||||||||||||||||
Jan-17 | € | 60 | CZK | 1,703.10 | 5.50% | 6.99% | ||||||||||||||||||
Jul-17 | € | 39.6 | CZK | 1,000.00 | 3.00% | 3.75% | ||||||||||||||||||
July 2016 (a) | € | 260 | HUF | 75,570.00 | 5.50% | 5.00% | ||||||||||||||||||
July 2016 - January 2017 | € | 260 | HUF | 75,570.00 | 5.50% | 10.56% | ||||||||||||||||||
Dec-16 | € | 150 | HUF | 43,367.50 | 5.50% | 2.00% | ||||||||||||||||||
Jul-18 | € | 78 | HUF | 19,500.00 | 5.50% | 9.15% | ||||||||||||||||||
Jan-17 | € | 245 | PLN | 1,000.60 | 5.50% | 9.03% | ||||||||||||||||||
Sep-16 | € | 200 | PLN | 892.7 | 6.00% | 3.91% | ||||||||||||||||||
Jan-20 | € | 144.6 | PLN | 605 | 5.50% | 7.98% | ||||||||||||||||||
Jul-17 | € | 82 | PLN | 318 | 3.00% | 5.60% | ||||||||||||||||||
Dec-15 | CLP 53,000.0 | € | 69.1 | 5.75% | 3.50% | |||||||||||||||||||
Amsterdamse Beheer-en Consultingmaatschappij BV (ABC B.V.), a subsidiary of Ziggo Group Holding: | ||||||||||||||||||||||||
Jan-22 | $ | 2,350.00 | € | 1,727.00 | 6 mo. LIBOR + 2.75% | 4.56% | ||||||||||||||||||
Jan-23 | $ | 400 | € | 339 | 5.88% | 4.58% | ||||||||||||||||||
Unitymedia Hessen GmbH & Co. KG (Unitymedia Hessen), a subsidiary of Unitymedia: | ||||||||||||||||||||||||
Jan-23 | $ | 1,652.90 | € | 1,252.50 | 5.67% | 4.50% | ||||||||||||||||||
Jan-21 | $ | 797.1 | € | 546.5 | 5.50% | 5.60% | ||||||||||||||||||
VTR: | ||||||||||||||||||||||||
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 swaps do not involve the exchange of notional amounts at the inception and maturity of the instruments. Accordingly, the only cash flows associated with these instruments are interest payments and receipts. | |||||||||||||||||||||||
Interest Rate Swap [Member] | ||||||||||||||||||||||||
Derivative [Line Items] | ||||||||||||||||||||||||
Schedule of Derivative Instruments | The terms of our outstanding interest rate swap contracts at March 31, 2015 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% | ||||||||||||||||||||
Jul-20 | € | 750 | 6.38% | 6 mo. EURIBOR + 3.16% | ||||||||||||||||||||
Jul-16 | € | 631.3 | 6 mo. EURIBOR | 0.20% | ||||||||||||||||||||
July 2016 - January 2021 | € | 250 | 6 mo. EURIBOR | 2.52% | ||||||||||||||||||||
July 2016 - January 2023 | € | 210 | 6 mo. EURIBOR | 2.88% | ||||||||||||||||||||
July 2016 - July 2020 | € | 171.3 | 6 mo. EURIBOR | 3.95% | ||||||||||||||||||||
Nov-21 | € | 107 | 6 mo. EURIBOR | 2.89% | ||||||||||||||||||||
Jul-16 | CHF | 900 | 6 mo. CHF LIBOR | 0.05% | ||||||||||||||||||||
Jan-22 | CHF | 711.5 | 6 mo. CHF LIBOR | 1.89% | ||||||||||||||||||||
July 2016 - January 2021 | CHF | 500 | 6 mo. CHF LIBOR | 1.65% | ||||||||||||||||||||
July 2016 - January 2018 | CHF | 400 | 6 mo. CHF LIBOR | 2.51% | ||||||||||||||||||||
Dec-16 | CHF | 370.9 | 6 mo. CHF LIBOR | 3.82% | ||||||||||||||||||||
Nov-19 | CHF | 226.8 | 6 mo. CHF LIBOR + 5.01% | 6.88% | ||||||||||||||||||||
ABC B.V.: | ||||||||||||||||||||||||
Jan-22 | € | 1,566.00 | 6 mo. EURIBOR | 1.66% | ||||||||||||||||||||
Jan-16 | € | 689 | 1 mo. EURIBOR + 3.75% | 6 mo. EURIBOR + 3.59% | ||||||||||||||||||||
Jan-21 | € | 500 | 6 mo. EURIBOR | 2.60% | ||||||||||||||||||||
Jul-16 | € | 290 | 6 mo. EURIBOR | 0.20% | ||||||||||||||||||||
July 2016 - January 2023 | € | 290 | 6 mo. EURIBOR | 2.84% | ||||||||||||||||||||
Mar-21 | € | 175 | 6 mo. EURIBOR | 2.32% | ||||||||||||||||||||
Jul-16 | € | 171.3 | 6 mo. EURIBOR | 0.20% | ||||||||||||||||||||
July 2016 - January 2022 | € | 171.3 | 6 mo. EURIBOR | 3.44% | ||||||||||||||||||||
Telenet International Finance S.a.r.l (Telenet International), a subsidiary of Telenet: | ||||||||||||||||||||||||
Jun-23 | € | 500 | 3 mo. EURIBOR | 1.45% | ||||||||||||||||||||
Subsidiary / Final maturity date | Notional amount | Interest rate due from | Interest rate due to | |||||||||||||||||||||
counterparty | counterparty | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
July 2017 - June 2022 | € | 420 | 3 mo. EURIBOR | 2.08% | ||||||||||||||||||||
Jun-21 | € | 400 | 3 mo. EURIBOR | 0.41% | ||||||||||||||||||||
July 2017 - June 2023 | € | 382 | 3 mo. EURIBOR | 1.89% | ||||||||||||||||||||
Jul-17 | € | 150 | 3 mo. EURIBOR | 3.55% | ||||||||||||||||||||
August 2015 - June 2022 | € | 55 | 3 mo. EURIBOR | 1.81% | ||||||||||||||||||||
Jun-15 | € | 50 | 3 mo. EURIBOR | 3.55% | ||||||||||||||||||||
Interest Rate Cap [Member] | ||||||||||||||||||||||||
Derivative [Line Items] | ||||||||||||||||||||||||
Schedule of Derivative Instruments | Our purchased and sold interest rate cap contracts with respect to EURIBOR at March 31, 2015 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: | ||||||||||||||||||||||||
Jan-20 | € | 735 | 7.00% | |||||||||||||||||||||
Telenet International: | ||||||||||||||||||||||||
June 2015 - June 2017 | € | 50 | 4.50% | |||||||||||||||||||||
Telenet NV, a subsidiary of Telenet: | ||||||||||||||||||||||||
Dec-17 | € | 0.6 | 6.50% | |||||||||||||||||||||
Dec-17 | € | 0.6 | 5.50% | |||||||||||||||||||||
Interest rate cap sold (b): | ||||||||||||||||||||||||
UPC Broadband Holding: | ||||||||||||||||||||||||
Jan-20 | € | 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 March 31, 2015, as detailed below: | |||||||||||||||||||||||
Subsidiary / Final maturity date | Notional | EURIBOR floor rate (a) | EURIBOR cap rate (b) | |||||||||||||||||||||
amount | ||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
UPC Broadband Holding: | ||||||||||||||||||||||||
Jan-20 | € | 1,135.00 | 1.00% | 3.54% | ||||||||||||||||||||
Telenet International: | ||||||||||||||||||||||||
Jul-17 | € | 650 | 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 | The following table summarizes our outstanding foreign currency forward contracts at March 31, 2015: | |||||||||||||||||||||||
Subsidiary | Currency | Currency | Maturity dates | |||||||||||||||||||||
purchased | sold | |||||||||||||||||||||||
forward | forward | |||||||||||||||||||||||
in millions | ||||||||||||||||||||||||
LGE Financing | $ | 674.9 | € | 629 | Apr-15 | |||||||||||||||||||
LGE Financing | € | 255 | $ | 277.2 | Apr-15 | |||||||||||||||||||
LGE Financing | € | 45.4 | £ | 33 | Apr-15 | |||||||||||||||||||
UPC Broadband Holding | $ | 22.2 | CZK | 540 | April 2015 - March 2016 | |||||||||||||||||||
UPC Broadband Holding | € | 97.5 | CHF | 109.5 | April 2015 - March 2016 | |||||||||||||||||||
UPC Broadband Holding | € | 19.5 | CZK | 540 | April 2015 - March 2016 | |||||||||||||||||||
UPC Broadband Holding | € | 19.3 | HUF | 6,000.00 | April 2015 - March 2016 | |||||||||||||||||||
UPC Broadband Holding | € | 42.6 | PLN | 180 | April 2015 - December 2015 | |||||||||||||||||||
UPC Broadband Holding | € | 39.2 | RON | 175.2 | April 2015 - March 2016 | |||||||||||||||||||
UPC Broadband Holding | £ | 3.6 | € | 4.8 | April 2015 - March 2016 | |||||||||||||||||||
UPC Broadband Holding | CZK | 249 | € | 9 | Apr-15 | |||||||||||||||||||
UPC Broadband Holding | HUF | 1,950.00 | € | 6.5 | Apr-15 | |||||||||||||||||||
UPC Broadband Holding | PLN | 79.5 | € | 19.4 | Apr-15 | |||||||||||||||||||
Telenet NV | $ | 49.4 | € | 43.7 | April 2015 - March 2016 | |||||||||||||||||||
VTR | $ | 62.7 | CLP | 38,702.90 | April 2015 - December 2015 | |||||||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | |||||||||||||||
Mar. 31, 2015 | ||||||||||||||||
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 March 31, 2015 using: | ||||||||||||||||
Description | March 31, | Quoted prices | Significant | Significant | ||||||||||||
2015 | 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 | $ | 2,239.10 | $ | — | $ | 2,239.10 | $ | — | ||||||||
Equity-related derivative instruments | 389 | — | — | 389 | ||||||||||||
Foreign currency forward contracts | 5.3 | — | 5.3 | — | ||||||||||||
Other | 2.4 | — | 2.4 | — | ||||||||||||
Total derivative instruments | 2,635.80 | — | 2,246.80 | 389 | ||||||||||||
Investments | 1,804.40 | 1,464.60 | — | 339.8 | ||||||||||||
Total assets | $ | 4,440.20 | $ | 1,464.60 | $ | 2,246.80 | $ | 728.8 | ||||||||
Liabilities - derivative instruments: | ||||||||||||||||
Cross-currency and interest rate derivative contracts | $ | 1,913.10 | $ | — | $ | 1,913.10 | $ | — | ||||||||
Equity-related derivative instruments | 192.1 | — | — | 192.1 | ||||||||||||
Foreign currency forward contracts | 14.7 | — | 14.7 | — | ||||||||||||
Other | 0.3 | — | 0.3 | — | ||||||||||||
Total liabilities | $ | 2,120.20 | $ | — | $ | 1,928.10 | $ | 192.1 | ||||||||
Fair value measurements at | ||||||||||||||||
December 31, 2014 using: | ||||||||||||||||
Description | December 31, 2014 | 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 | $ | 1,357.30 | $ | — | $ | 1,357.30 | $ | — | ||||||||
Equity-related derivative instruments | 400.2 | — | — | 400.2 | ||||||||||||
Foreign currency forward contracts | 2.5 | — | 2.5 | — | ||||||||||||
Other | 1.4 | — | 1.4 | — | ||||||||||||
Total derivative instruments | 1,761.40 | — | 1,361.20 | 400.2 | ||||||||||||
Investments | 1,662.70 | 1,344.30 | — | 318.4 | ||||||||||||
Total assets | $ | 3,424.10 | $ | 1,344.30 | $ | 1,361.20 | $ | 718.6 | ||||||||
Liabilities - derivative instruments: | ||||||||||||||||
Cross-currency and interest rate derivative contracts | $ | 2,471.30 | $ | — | $ | 2,471.30 | $ | — | ||||||||
Equity-related derivative instruments | 88.4 | — | — | 88.4 | ||||||||||||
Foreign currency forward contracts | 0.8 | — | 0.8 | — | ||||||||||||
Other | 0.3 | — | 0.3 | — | ||||||||||||
Total liabilities | $ | 2,560.80 | $ | — | $ | 2,472.40 | $ | 88.4 | ||||||||
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, 2015 | $ | 318.4 | $ | 311.8 | $ | 630.2 | ||||||||||
Gains (losses) included in net loss (a): | ||||||||||||||||
Realized and unrealized losses on derivative instruments, net | — | (114.9 | ) | (114.9 | ) | |||||||||||
Realized and unrealized gains due to changes in fair values of certain investments, net | 31.1 | — | 31.1 | |||||||||||||
Foreign currency translation adjustments, investments and other, net | (9.7 | ) | — | (9.7 | ) | |||||||||||
Balance of net assets at March 31, 2015 | $ | 339.8 | $ | 196.9 | $ | 536.7 | ||||||||||
_______________ | ||||||||||||||||
(a) | Most of these net gains (losses) relate to assets and liabilities that we continue to carry on our condensed consolidated balance sheet as of March 31, 2015. |
Longlived_Assets_Tables
Long-lived Assets (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Long lived Assets | |||||||||||||||||||||||||
Schedule of PP&E | The details of our property and equipment and the related accumulated depreciation are set forth below: | ||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||
Distribution systems | $ | 24,366.00 | $ | 26,012.50 | |||||||||||||||||||||
Customer premises equipment | 5,977.10 | 6,213.90 | |||||||||||||||||||||||
Support equipment, buildings and land | 4,126.00 | 4,298.40 | |||||||||||||||||||||||
34,469.10 | 36,524.80 | ||||||||||||||||||||||||
Accumulated depreciation | (12,647.2 | ) | (12,684.2 | ) | |||||||||||||||||||||
Total property and equipment, net | $ | 21,821.90 | $ | 23,840.60 | |||||||||||||||||||||
Schedule of Changes in Carrying Amount of Goodwill | Changes in the carrying amount of our goodwill during the three months ended March 31, 2015 are set forth below: | ||||||||||||||||||||||||
1-Jan-15 | Acquisitions | Foreign | March 31, | ||||||||||||||||||||||
and related | currency | 2015 | |||||||||||||||||||||||
adjustments | translation | ||||||||||||||||||||||||
adjustments | |||||||||||||||||||||||||
in millions | |||||||||||||||||||||||||
European Operations Division: | |||||||||||||||||||||||||
U.K./Ireland | $ | 9,245.10 | $ | 0.4 | $ | (451.8 | ) | $ | 8,793.70 | ||||||||||||||||
The Netherlands | 8,605.00 | 132.5 | (994.2 | ) | 7,743.30 | ||||||||||||||||||||
Germany | 3,456.90 | — | (392.0 | ) | 3,064.90 | ||||||||||||||||||||
Belgium | 1,978.90 | — | (224.4 | ) | 1,754.50 | ||||||||||||||||||||
Switzerland/Austria | 3,591.90 | — | (21.4 | ) | 3,570.50 | ||||||||||||||||||||
Total Western Europe | 26,877.80 | 132.9 | (2,083.8 | ) | 24,926.90 | ||||||||||||||||||||
Central and Eastern Europe | 1,302.10 | 0.6 | (108.3 | ) | 1,194.40 | ||||||||||||||||||||
Total European Operations Division | 28,179.90 | 133.5 | (2,192.1 | ) | 26,121.30 | ||||||||||||||||||||
Chile | 440.3 | — | (12.9 | ) | 427.4 | ||||||||||||||||||||
Corporate and other | 381.4 | — | — | 381.4 | |||||||||||||||||||||
Total | $ | 29,001.60 | $ | 133.5 | $ | (2,205.0 | ) | $ | 26,930.10 | ||||||||||||||||
Schedule of Intangible Assets Subject to Amortization, Net | The details of our intangible assets subject to amortization are set forth below: | ||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | ||||||||||||||||||||||||
Gross carrying amount | Accumulated amortization | Net carrying amount | Gross carrying amount | Accumulated amortization | Net carrying amount | ||||||||||||||||||||
in millions | |||||||||||||||||||||||||
Customer relationships | $ | 10,962.60 | $ | (3,130.9 | ) | $ | 7,831.70 | $ | 12,142.50 | $ | (3,056.3 | ) | $ | 9,086.20 | |||||||||||
Other | 198.9 | (113.1 | ) | 85.8 | 235.4 | (131.8 | ) | 103.6 | |||||||||||||||||
Total | $ | 11,161.50 | $ | (3,244.0 | ) | $ | 7,917.50 | $ | 12,377.90 | $ | (3,188.1 | ) | $ | 9,189.80 | |||||||||||
Debt_and_Capital_Lease_Obligat1
Debt and Capital Lease Obligations (Tables) | 3 Months Ended | |||||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||||
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: | |||||||||||||||||||||||||||
March 31, 2015 | Carrying value (d) | |||||||||||||||||||||||||||
Weighted | Unused borrowing capacity (b) | Estimated fair value (c) | ||||||||||||||||||||||||||
average | ||||||||||||||||||||||||||||
interest | ||||||||||||||||||||||||||||
rate (a) | Borrowing currency | U.S. $ | 31-Mar-15 | 31-Dec-14 | 31-Mar-15 | December 31, 2014 | ||||||||||||||||||||||
equivalent | ||||||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||||||
Debt: | ||||||||||||||||||||||||||||
VM Notes | 5.63 | % | — | $ | — | $ | 10,602.70 | $ | 8,461.00 | $ | 10,117.20 | $ | 8,060.70 | |||||||||||||||
VM Credit Facility | 3.77 | % | £ | 660 | 979.7 | 3,768.10 | 4,734.90 | 3,752.00 | 4,804.00 | |||||||||||||||||||
VM Convertible Notes | 6.5 | % | — | — | 182.3 | 178.7 | 56.6 | 56.8 | ||||||||||||||||||||
Ziggo Credit Facilities | 3.64 | % | € | 650 | 697.3 | 5,249.00 | 4,663.00 | 5,180.40 | 4,710.80 | |||||||||||||||||||
Ziggo SPE Notes | 4.48 | % | — | — | 1,747.30 | — | 1,687.40 | — | ||||||||||||||||||||
Ziggo Notes | 6.82 | % | — | — | 985.7 | 1,082.30 | 953.1 | 1,077.00 | ||||||||||||||||||||
Unitymedia Notes | 5.04 | % | — | — | 7,628.80 | 7,869.30 | 7,250.80 | 7,400.90 | ||||||||||||||||||||
Unitymedia Revolving Credit Facilities | — | € | 500 | 536.4 | — | 319.4 | — | 338.8 | ||||||||||||||||||||
UPCB SPE Notes | 6.85 | % | — | — | 2,872.20 | 4,279.00 | 2,703.80 | 4,009.40 | ||||||||||||||||||||
UPC Broadband Holding Bank Facility | 3.25 | % | € | 846.2 | 907.8 | 1,509.50 | 3,156.40 | 1,516.70 | 3,179.20 | |||||||||||||||||||
UPC Holding Senior Notes | 6.59 | % | — | — | 1,619.80 | 2,603.60 | 1,481.50 | 2,391.60 | ||||||||||||||||||||
Telenet SPE Notes | 5.91 | % | — | — | 2,171.30 | 2,450.40 | 2,038.30 | 2,299.00 | ||||||||||||||||||||
Telenet Credit Facility | 3.44 | % | € | 322.9 | 346.4 | 1,461.50 | 1,633.40 | 1,452.90 | 1,638.60 | |||||||||||||||||||
VTR Finance Senior Secured Notes | 6.88 | % | — | — | 1,459.50 | 1,439.40 | 1,400.00 | 1,400.00 | ||||||||||||||||||||
Sumitomo Collar Loan | 1.88 | % | — | — | 817.3 | 818 | 786.9 | 787.7 | ||||||||||||||||||||
Liberty Puerto Rico Bank Facility | 5.2 | % | $ | 40 | 40 | 666.7 | 666.2 | 672 | 672 | |||||||||||||||||||
ITV Collar Loan | 1.73 | % | — | — | 649.1 | 678.2 | 638.1 | 667 | ||||||||||||||||||||
Vendor financing (e) | 3.37 | % | — | — | 832.3 | 946.4 | 832.3 | 946.4 | ||||||||||||||||||||
Other | 9.29 | % | (f) | 195.2 | 155.6 | 171.5 | 155.6 | 171.5 | ||||||||||||||||||||
Total debt | 4.94 | % | $ | 3,702.80 | $ | 44,378.70 | $ | 46,151.10 | 42,675.60 | 44,611.40 | ||||||||||||||||||
Capital lease obligations: | ||||||||||||||||||||||||||||
Unitymedia | 712.5 | 810.1 | ||||||||||||||||||||||||||
Telenet | 367.9 | 413.4 | ||||||||||||||||||||||||||
Virgin Media | 231.3 | 255.3 | ||||||||||||||||||||||||||
Other subsidiaries | 96 | 68.8 | ||||||||||||||||||||||||||
Total capital lease obligations | 1,407.70 | 1,547.60 | ||||||||||||||||||||||||||
Total debt and capital lease obligations | 44,083.30 | 46,159.00 | ||||||||||||||||||||||||||
Current maturities | (1,292.8 | ) | (1,550.9 | ) | ||||||||||||||||||||||||
Long-term debt and capital lease obligations | $ | 42,790.50 | $ | 44,608.10 | ||||||||||||||||||||||||
_______________ | ||||||||||||||||||||||||||||
(a) | Represents the weighted average interest rate in effect at March 31, 2015 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 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 or 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 5.4% at March 31, 2015. For information regarding our derivative instruments, see note 4. | |||||||||||||||||||||||||||
(b) | Unused borrowing capacity represents the maximum availability under the applicable facility at March 31, 2015 without regard to covenant compliance calculations or other conditions precedent to borrowing. At March 31, 2015, based on the applicable leverage and other financial covenants, the full amount of unused borrowing capacity was available to be borrowed under each of the respective subsidiary facilities, except that our aggregate availability under Unitymedia’s (i) €420.0 million ($450.6 million) senior secured revolving credit facility (the UM Senior Secured Facility) and (ii) €80.0 million ($85.8 million) super senior secured revolving credit facility (together with the UM Senior Secured Facility, the Unitymedia Revolving Credit Facilities) was limited to €439.1 million ($471.1 million). When the relevant March 31, 2015 compliance reporting requirements have been completed, and assuming no changes from March 31, 2015 borrowing levels, we anticipate that our availability under the Unitymedia Revolving Credit Facilities will be limited to €481.9 million ($517.0 million) and our availability under the UPC Broadband Holding Bank Facility will be limited to €769.9 million ($826.0 million). In addition to these limitations, 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 March 31, 2015, 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 Unitymedia was limited to €21.6 million ($23.2 million). When the relevant March 31, 2015 compliance reporting requirements have been completed and assuming no changes from March 31, 2015 borrowing levels, we anticipate that the availability to be loaned or distributed by Unitymedia will be limited to €64.4 million ($69.1 million) and the availability to be loaned or distributed by Ziggo will be limited to €425.3 million ($456.3 million). For information regarding certain transactions completed subsequent to March 31, 2015 that could have an impact on unused borrowing capacity, see note 15. | |||||||||||||||||||||||||||
(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 regarding fair value hierarchies, see note 5. | |||||||||||||||||||||||||||
(d) | Amounts include the impact of premiums and discounts, where applicable. | |||||||||||||||||||||||||||
(e) | 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 March 31, 2015 and December 31, 2014, the amounts owed pursuant to these arrangements include $90.9 million and $101.7 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. | |||||||||||||||||||||||||||
(f) | 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 Credit Facility) and a CLP 22.0 billion ($35.2 million) Chilean peso facility (the VTR CLP Credit Facility), each of which were undrawn at March 31, 2015. The VTR Dollar Credit Facility and the VTR CLP Credit Facility have fees on unused commitments of 1.1% and 1.34% per year, respectively. | |||||||||||||||||||||||||||
Debt Instrument Redemption | Upon the occurrence of an Early Redemption Event on or after the applicable UPCB Finance IV Notes Call Date, UPCB Finance IV will redeem an aggregate principal amount of the UPCB Finance IV Notes equal to the principal amount of the related facility prepaid at the following redemption prices (expressed as a percentage of the principal amount), plus accrued and unpaid interest and additional amounts, (as specified in the applicable indenture), if any, to the applicable redemption date, if redeemed during the 12-month period commencing on January 15 of the years set forth below: | |||||||||||||||||||||||||||
Redemption price | ||||||||||||||||||||||||||||
Year | UPCB Finance IV Dollar Notes | UPCB Finance IV Euro Notes | ||||||||||||||||||||||||||
2020 | 102.69% | N.A. | ||||||||||||||||||||||||||
2021 | 101.79% | 102.00% | ||||||||||||||||||||||||||
2022 | 100.90% | 101.00% | ||||||||||||||||||||||||||
2023 | 100.00% | 100.50% | ||||||||||||||||||||||||||
2024 and thereafter | 100.00% | 100.00% | ||||||||||||||||||||||||||
Schedule of Maturities of Long-Term Debt | Maturities of Debt and Capital Lease Obligations | |||||||||||||||||||||||||||
Maturities of our debt and capital lease obligations as of March 31, 2015 are presented below for the named entity and its subsidiaries, unless otherwise noted. Amounts presented below represent U.S. dollar equivalents based on March 31, 2015 exchange rates: | ||||||||||||||||||||||||||||
Debt: | ||||||||||||||||||||||||||||
Virgin Media | Ziggo Group Holding (a) | Unitymedia | UPC | Telenet (c) | Other | Total | ||||||||||||||||||||||
Holding (b) | ||||||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||||||
Year ending December 31: | ||||||||||||||||||||||||||||
2015 (remainder of year) | $ | 268.1 | $ | — | $ | 110 | $ | 572.1 | $ | 7.9 | $ | 26.2 | $ | 984.3 | ||||||||||||||
2016 | 11.9 | 3.6 | 14.4 | 83 | 7.9 | 362.2 | 483 | |||||||||||||||||||||
2017 | — | — | — | — | 7.9 | 879.6 | 887.5 | |||||||||||||||||||||
2018 | — | — | — | — | 7.9 | 236.1 | 244 | |||||||||||||||||||||
2019 | — | — | — | — | 18.1 | — | 18.1 | |||||||||||||||||||||
2020 | 2,355.00 | 76.9 | — | 1,203.80 | 548.4 | — | 4,184.10 | |||||||||||||||||||||
Thereafter | 11,496.20 | 7,719.60 | 7,250.80 | 4,291.30 | 3,036.00 | 2,075.00 | 35,868.90 | |||||||||||||||||||||
Total debt maturities | 14,131.20 | 7,800.10 | 7,375.20 | 6,150.20 | 3,634.10 | 3,579.10 | 42,669.90 | |||||||||||||||||||||
Unamortized premium (discount) | 19.9 | 24.4 | — | (7.6 | ) | (2.9 | ) | (28.1 | ) | 5.7 | ||||||||||||||||||
Total debt | $ | 14,151.10 | $ | 7,824.50 | $ | 7,375.20 | $ | 6,142.60 | $ | 3,631.20 | $ | 3,551.00 | $ | 42,675.60 | ||||||||||||||
Current portion (d) | $ | 281.9 | $ | 3.6 | $ | 124.4 | $ | 655.2 | $ | 7.9 | $ | 39.8 | $ | 1,112.80 | ||||||||||||||
Noncurrent portion | $ | 13,869.20 | $ | 7,820.90 | $ | 7,250.80 | $ | 5,487.40 | $ | 3,623.30 | $ | 3,511.20 | $ | 41,562.80 | ||||||||||||||
_______________ | ||||||||||||||||||||||||||||
(a) | Amounts include the Ziggo SPE Notes issued by the Ziggo SPEs. As described above, the Ziggo SPEs are consolidated by Ziggo Group Holding. | |||||||||||||||||||||||||||
(b) | Amounts include the UPCB SPE Notes issued by the UPCB SPEs. As described above, the UPCB SPEs are consolidated by UPC Holding. | |||||||||||||||||||||||||||
(c) | Amounts include certain senior secured notes issued by special purpose financing entities that are consolidated by Telenet. | |||||||||||||||||||||||||||
(d) | The outstanding principal amounts of our subsidiaries’ revolving credit facilities are included in our current debt maturities. | |||||||||||||||||||||||||||
Schedule of Capital Lease Obligations | Capital lease obligations: | |||||||||||||||||||||||||||
Unitymedia | Telenet | Virgin Media | Other | Total | ||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||||||
Year ending December 31: | ||||||||||||||||||||||||||||
2015 (remainder of year) | $ | 59 | $ | 48.1 | $ | 88.2 | $ | 19.7 | $ | 215 | ||||||||||||||||||
2016 | 78.7 | 57.9 | 71.2 | 21.4 | 229.2 | |||||||||||||||||||||||
2017 | 78.7 | 56.2 | 33.4 | 16.4 | 184.7 | |||||||||||||||||||||||
2018 | 78.7 | 54.2 | 10.2 | 9.8 | 152.9 | |||||||||||||||||||||||
2019 | 78.7 | 44.9 | 5.2 | 6.5 | 135.3 | |||||||||||||||||||||||
2020 | 78.7 | 42.4 | 4.2 | 5.6 | 130.9 | |||||||||||||||||||||||
Thereafter | 777.5 | 191.9 | 207.5 | 43.5 | 1,220.40 | |||||||||||||||||||||||
Total principal and interest payments | 1,230.00 | 495.6 | 419.9 | 122.9 | 2,268.40 | |||||||||||||||||||||||
Amounts representing interest | (517.5 | ) | (127.7 | ) | (188.6 | ) | (26.9 | ) | (860.7 | ) | ||||||||||||||||||
Present value of net minimum lease payments | $ | 712.5 | $ | 367.9 | $ | 231.3 | $ | 96 | $ | 1,407.70 | ||||||||||||||||||
Current portion | $ | 24.6 | $ | 36.9 | $ | 99.3 | $ | 19.2 | $ | 180 | ||||||||||||||||||
Noncurrent portion | $ | 687.9 | $ | 331 | $ | 132 | $ | 76.8 | $ | 1,227.70 | ||||||||||||||||||
VM Notes [Member] | ||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||
Debt Instrument Redemption | Virgin Media Secured Finance may redeem some or all of the 2026 VM Senior Secured Notes or the 2027 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 specified in the indenture), if any, to the applicable redemption date, if redeemed during the 12-month period commencing on January 15 of the years set forth below: | |||||||||||||||||||||||||||
Redemption price | ||||||||||||||||||||||||||||
Year | 2026 VM Senior Secured Notes | 2027 VM Senior Secured Notes | ||||||||||||||||||||||||||
2020 | 102.63% | N.A. | ||||||||||||||||||||||||||
2021 | 101.31% | 102.44% | ||||||||||||||||||||||||||
2022 | 100.66% | 101.22% | ||||||||||||||||||||||||||
2023 | 100.00% | 100.61% | ||||||||||||||||||||||||||
2024 and thereafter | 100.00% | 100.00% | ||||||||||||||||||||||||||
VM Credit Facility [Member] | ||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||
Schedule of Line of Credit Facilities | 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 March 31, 2015 are summarized in the following table: | |||||||||||||||||||||||||||
Facility | Maturity | Interest rate | Facility amount | Unused | Carrying | |||||||||||||||||||||||
(in borrowing | borrowing | value (a) | ||||||||||||||||||||||||||
currency) | capacity | |||||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||||||
B | June 7, 2020 | LIBOR + 2.75% (b) | $ | 2,355.00 | $ | — | $ | 2,346.00 | ||||||||||||||||||||
D | June 30, 2022 | LIBOR + 3.25% (b) | £ | 100 | — | 148.1 | ||||||||||||||||||||||
E | June 30, 2023 | LIBOR + 3.50% (b) | £ | 849.4 | — | 1,257.90 | ||||||||||||||||||||||
Revolving facility (c) | June 7, 2019 | LIBOR + 3.25% | £ | 660 | 979.7 | — | ||||||||||||||||||||||
Total | $ | 979.7 | $ | 3,752.00 | ||||||||||||||||||||||||
_______________ | ||||||||||||||||||||||||||||
(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 [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 March 31, 2015 are summarized in the following table: | |||||||||||||||||||||||||||
Facility | Maturity | Interest rate | Facility amount | Unused | Carrying | |||||||||||||||||||||||
(in borrowing | borrowing | value (c) | ||||||||||||||||||||||||||
currency) (a) | capacity (b) | |||||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||||||
Y (d) | July 1, 2020 | 6.38% | € | 190 | $ | — | $ | 203.8 | ||||||||||||||||||||
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 | ||||||||||||||||||||||
AH | June 30, 2021 | LIBOR + 2.50% (e) | $ | 1,305.00 | — | 1,302.10 | ||||||||||||||||||||||
AI | April 30, 2019 | EURIBOR + 3.25% | € | 1,046.20 | 907.8 | 214.6 | ||||||||||||||||||||||
Elimination of Facilities Y, Z, AC and AD in consolidation (d) | — | (2,703.8 | ) | |||||||||||||||||||||||||
Total | $ | 907.8 | $ | 1,516.70 | ||||||||||||||||||||||||
_______________ | ||||||||||||||||||||||||||||
(a) | Except as described in (d) below, amounts represent total third-party facility amounts at March 31, 2015 without giving effect to the impact of discounts. | |||||||||||||||||||||||||||
(b) | When the relevant March 31, 2015 compliance reporting requirements have been completed and assuming no changes from the March 31, 2015 borrowing levels, we anticipate that our availability under the UPC Broadband Holding Bank Facility will be limited to €769.9 million ($826.0 million). Facility AI has a fee on unused commitments of 1.3% per year. | |||||||||||||||||||||||||||
(c) | The carrying value of Facility AH includes the impact of a discount. | |||||||||||||||||||||||||||
(d) | Amounts relate 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 Y, Z, AC and AD, with our wholly-owned subsidiary UPC Financing Partnership (UPC Financing) as the borrower. Accordingly, the amounts outstanding under Facilities Y, Z, AC and AD are eliminated in our condensed consolidated financial statements. | |||||||||||||||||||||||||||
(e) | Facility AH has a LIBOR floor of 0.75%. | |||||||||||||||||||||||||||
UPC Holding Senior Notes [Member] | ||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||
Schedule of Debt | The details of the UPC Holding Senior Notes as of March 31, 2015 are summarized in the following table: | |||||||||||||||||||||||||||
Outstanding principal | ||||||||||||||||||||||||||||
amount | ||||||||||||||||||||||||||||
UPC Holding Senior Notes | Maturity | Borrowing | U.S. $ | Estimated | Carrying | |||||||||||||||||||||||
currency | equivalent | fair value | value (a) | |||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||||||
UPC Holding 6.375% Senior Notes | 15-Sep-22 | € | 600 | $ | 643.7 | $ | 693.6 | $ | 639 | |||||||||||||||||||
UPC Holding 6.75% Euro Senior Notes | 15-Mar-23 | € | 450 | 482.8 | 528.9 | 482.8 | ||||||||||||||||||||||
UPC Holding 6.75% CHF Senior Notes | March 15, 2023 | CHF | 350 | 359.7 | 397.3 | 359.7 | ||||||||||||||||||||||
Total | $ | 1,486.20 | $ | 1,619.80 | $ | 1,481.50 | ||||||||||||||||||||||
_______________ | ||||||||||||||||||||||||||||
(a) | The carrying value of the UPC Holding 6.375% Senior Notes includes the impact of a discount. | |||||||||||||||||||||||||||
UPCB SPE Notes [Member] | ||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||
Schedule of Debt | The details of the UPCB SPE Notes as of March 31, 2015 are summarized in the following table: | |||||||||||||||||||||||||||
Outstanding principal | ||||||||||||||||||||||||||||
amount | ||||||||||||||||||||||||||||
UPCB SPEs | Maturity | Interest rate | Borrowing | U.S. $ | Estimated | Carrying | ||||||||||||||||||||||
currency | equivalent | fair value | value | |||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||||||
UPCB Finance II Notes | July 1, 2020 | 6.38% | € | 190 | $ | 203.8 | $ | 212.5 | $ | 203.8 | ||||||||||||||||||
UPCB Finance III Notes | July 1, 2020 | 6.63% | $ | 1,000.00 | 1,000.00 | 1,042.50 | 1,000.00 | |||||||||||||||||||||
UPCB Finance V Notes | November 15, 2021 | 7.25% | $ | 750 | 750 | 810 | 750 | |||||||||||||||||||||
UPCB Finance VI Notes | January 15, 2022 | 6.88% | $ | 750 | 750 | 807.2 | 750 | |||||||||||||||||||||
Total | $ | 2,703.80 | $ | 2,872.20 | $ | 2,703.80 | ||||||||||||||||||||||
2015 UM Notes [Member] | ||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||
Debt Instrument Redemption | The UM Senior Secured Note Issuers or Unitymedia (as applicable) may redeem some or all of the 2015 UM Notes at the following redemption prices (expressed as a percentage of the principal amount) plus accrued and unpaid interest and additional amounts (as specified in the applicable indenture), if any, to the redemption date, if redeemed during the 12-month period commencing on January 15 of the years set forth below: | |||||||||||||||||||||||||||
Year | Redemption price | |||||||||||||||||||||||||||
2015 UM Senior Secured Notes | 2015 UM Senior Notes | |||||||||||||||||||||||||||
2021 | 101.75% | 101.88% | ||||||||||||||||||||||||||
2022 | 100.88% | 100.94% | ||||||||||||||||||||||||||
2023 | 100.44% | 100.47% | ||||||||||||||||||||||||||
2024 and thereafter | 100.00% | 100.00% | ||||||||||||||||||||||||||
Ziggo Credit Facility [Member] | ||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||
Schedule of Line of Credit Facilities | The details of our borrowings under Ziggo Group Holding’s credit facilities (the Ziggo Credit Facilities) as of March 31, 2015 are summarized in the following table: | |||||||||||||||||||||||||||
Facility | Maturity | Interest rate | Facility amount | Unused | Carrying | |||||||||||||||||||||||
(in borrowing | borrowing | value (a) | ||||||||||||||||||||||||||
currency) | capacity | |||||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||||||
Ziggo Dollar Facility | January 15, 2022 | LIBOR + 2.75% (c) | $ | 2,350.00 | $ | — | $ | 2,316.40 | ||||||||||||||||||||
Ziggo Euro Facility | January 15, 2022 | EURIBOR + 3.00% (b) | € | 2,000.00 | — | 2,124.60 | ||||||||||||||||||||||
Senior Secured Proceeds Loan | January 15, 2025 | 3.75% | € | 800 | — | 858.2 | ||||||||||||||||||||||
Euro Senior Proceeds Loan | January 15, 2025 | 4.63% | € | 400 | — | 429.1 | ||||||||||||||||||||||
Dollar Senior Proceeds Loan | January 15, 2025 | 5.88% | $ | 400 | — | 400 | ||||||||||||||||||||||
New Ziggo Credit Facility | March 31, 2021 | EURIBOR + 3.75% | € | 689.2 | — | 739.4 | ||||||||||||||||||||||
Ziggo Revolving Facilities | June 30, 2020 | (d) | € | 650 | 697.3 | — | ||||||||||||||||||||||
Elimination of the Proceeds Loans in consolidation (e) | — | (1,687.3 | ) | |||||||||||||||||||||||||
Total | $ | 697.3 | $ | 5,180.40 | ||||||||||||||||||||||||
_______________ | ||||||||||||||||||||||||||||
(a) | The carrying values of the Ziggo Euro Facility and the Ziggo Dollar Facility include the impact of discounts. | |||||||||||||||||||||||||||
(b) | The Ziggo Euro Facility has a EURIBOR floor of 0.75%. | |||||||||||||||||||||||||||
(c) | The Ziggo Dollar Facility has a LIBOR floor of 0.75%. | |||||||||||||||||||||||||||
(d) | The Ziggo Revolving Facilities include (i) a €600.0 million ($643.7 million) facility that bears interest at EURIBOR plus a margin of 2.75% and has a fee on unused commitments of 1.1% per year and (ii) a €50.0 million ($53.6 million) facility that bears interest at EURIBOR plus a margin of 2.00% and has a fee on unused commitments of 0.8% per year. | |||||||||||||||||||||||||||
(e) | Amounts relate to certain senior and senior secured notes (the Ziggo SPE Notes) issued by special purpose financing entities (the Ziggo SPEs) that are consolidated by Ziggo Group Holding and Liberty Global. The proceeds from the Ziggo SPE Notes were used to fund the Senior Secured Proceeds Loan, the Euro Senior Proceeds Loan and the Dollar Senior Proceeds Loan (together the Proceeds Loans), with certain subsidiaries of Ziggo Group Holding as the borrowers. Accordingly, the amounts outstanding under the Proceeds Loans are eliminated in our condensed consolidated financial statements. |
Income_Taxes_Tables
Income Taxes (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Accrued Income Taxes [Abstract] | ||||||||
Income Tax Benefit (Expense) Reconciliation Table | Income tax benefit attributable to our loss from continuing operations before income taxes differs from the amounts computed using the applicable income tax rate as a result of the following factors: | |||||||
Three months ended | ||||||||
March 31, | ||||||||
2015 | 2014 | |||||||
in millions | ||||||||
Computed “expected” tax benefit (a) | $ | 121.4 | $ | 115.5 | ||||
Change in valuation allowances (b): | ||||||||
Decrease | (226.0 | ) | (55.2 | ) | ||||
Increase | 1 | 4.9 | ||||||
International rate differences (b) (c): | ||||||||
Increase | 91.3 | 57.4 | ||||||
Decrease | (12.4 | ) | (6.2 | ) | ||||
Non-deductible or non-taxable foreign currency exchange results (b): | ||||||||
Increase | 69.5 | 2.1 | ||||||
Decrease | (8.7 | ) | (7.4 | ) | ||||
Tax effect of intercompany financing | 38.2 | 40.5 | ||||||
Non-deductible or non-taxable interest and other expenses (b): | ||||||||
Decrease | (33.7 | ) | (31.0 | ) | ||||
Increase | 11.2 | 15 | ||||||
Basis and other differences in the treatment of items associated with investments in subsidiaries and affiliates (b): | ||||||||
Increase | 14.5 | 0.5 | ||||||
Decrease | (1.0 | ) | (49.6 | ) | ||||
Recognition of previously unrecognized tax benefits | 8.9 | 28.8 | ||||||
Other, net | 3.7 | 1.7 | ||||||
Total income tax benefit | $ | 77.9 | $ | 117 | ||||
_______________ | ||||||||
(a) | The statutory or “expected” tax rates are the U.K. rates of 20.25% and 21.5% for the three months ended March 31, 2015 and 2014, respectively. A further decline to 20.0% occurred in April 2015. The estimated impact of this decline was reflected in our deferred tax balances in the third quarter of 2013, the quarter in which the scheduled tax rate changes in the U.K. were enacted. | |||||||
(b) | Country jurisdictions giving rise to increases are grouped together and shown separately from country jurisdictions giving rise to decreases. | |||||||
(c) | Amounts reflect adjustments (either an increase or a decrease) to “expected” tax benefit for statutory rates in jurisdictions in which we operate outside of the U.K. |
Sharebased_Compensation_Tables
Share-based Compensation (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||
Summary of stock-based compensation | The following table summarizes our share-based compensation expense: | |||||||
Three months ended March 31, | ||||||||
2015 | 2014 | |||||||
in millions | ||||||||
Liberty Global shares: | ||||||||
Performance-based incentive awards (a) | $ | 42.1 | $ | 20.6 | ||||
Other share-based incentive awards | 25.4 | 30.2 | ||||||
Total Liberty Global shares | 67.5 | 50.8 | ||||||
Telenet share-based incentive awards | 3.2 | 2.9 | ||||||
Other | 0.7 | 1.4 | ||||||
Total | $ | 71.4 | $ | 55.1 | ||||
Included in: | ||||||||
Operating expense | $ | 0.7 | $ | 1.3 | ||||
SG&A expense | 70.7 | 53.8 | ||||||
Total | $ | 71.4 | $ | 55.1 | ||||
_______________ | ||||||||
(a) | Includes share-based compensation expense related to (i) Liberty Global performance-based restricted share units (PSUs), (ii) a challenge performance award plan for certain executive officers and key employees (the Challenge Performance Awards) and (iii) for the 2015 period, the Performance Grant Units (PGUs). The Challenge Performance Awards include performance-based share appreciation rights (PSARs) and PSUs. |
Restructuring_Liability_Tables
Restructuring Liability (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Restructuring and Related Activities [Abstract] | |||||||||||||||||
Summary of changes in restructuring liability | A summary of the changes in our restructuring liability during the three months ended March 31, 2015 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, 2015 | $ | 27.6 | $ | 12.5 | $ | 116 | $ | 156.1 | |||||||||
Restructuring charges | 13.4 | (0.8 | ) | 3 | 15.6 | ||||||||||||
Cash paid | (12.1 | ) | (1.1 | ) | (7.4 | ) | (20.6 | ) | |||||||||
Foreign currency translation adjustments and other | (1.1 | ) | 1.5 | (9.5 | ) | (9.1 | ) | ||||||||||
Restructuring liability as of March 31, 2015 | $ | 27.8 | $ | 12.1 | $ | 102.1 | $ | 142 | |||||||||
Current portion | $ | 27.7 | $ | 3.4 | $ | 17.6 | $ | 48.7 | |||||||||
Noncurrent portion | 0.1 | 8.7 | 84.5 | 93.3 | |||||||||||||
Total | $ | 27.8 | $ | 12.1 | $ | 102.1 | $ | 142 | |||||||||
Earnings_or_Loss_per_Ordinary_1
Earnings or Loss per Ordinary Share (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Earnings Per Share [Abstract] | ||||||||
Details of Net Earnings (Loss) Attributable to LGI Stockholders | The details of our loss attributable to Liberty Global shareholders are set forth below: | |||||||
Three months ended | ||||||||
March 31, | ||||||||
2015 | 2014 | |||||||
in millions | ||||||||
Amounts attributable to Liberty Global shareholders: | ||||||||
Loss from continuing operations | $ | (537.5 | ) | $ | (419.5 | ) | ||
Earnings from discontinued operation | — | 340.7 | ||||||
Net loss attributable to Liberty Global shareholders | $ | (537.5 | ) | $ | (78.8 | ) |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 3 Months Ended | |||||||||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||||||||||
Unrecorded Purchase Obligation | The U.S. dollar equivalents of such commitments as of March 31, 2015 are presented below: | |||||||||||||||||||||||||||||||
Payments due during: | ||||||||||||||||||||||||||||||||
Remainder | ||||||||||||||||||||||||||||||||
of 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | Thereafter | Total | |||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||||||||||
Programming commitments | $ | 626.2 | $ | 772.8 | $ | 613.8 | $ | 530 | $ | 231.6 | $ | 1.6 | $ | 0.3 | $ | 2,776.30 | ||||||||||||||||
Network and connectivity commitments | 265.3 | 249.1 | 228 | 120.2 | 84.9 | 60.5 | 873.2 | 1,881.20 | ||||||||||||||||||||||||
Purchase commitments | 800.8 | 116.8 | 56.8 | 11.3 | 3.9 | — | — | 989.6 | ||||||||||||||||||||||||
Operating leases | 128.7 | 138.9 | 116.1 | 97.7 | 76.4 | 45.2 | 245.6 | 848.6 | ||||||||||||||||||||||||
Other commitments | 272.2 | 180 | 138.9 | 82.9 | 42.5 | 21.5 | 26.6 | 764.6 | ||||||||||||||||||||||||
Total (a) | $ | 2,093.20 | $ | 1,457.60 | $ | 1,153.60 | $ | 842.1 | $ | 439.3 | $ | 128.8 | $ | 1,145.70 | $ | 7,260.30 | ||||||||||||||||
_______________ | ||||||||||||||||||||||||||||||||
(a) | The commitments reflected in this table do not reflect any liabilities that are included in our March 31, 2015 condensed consolidated balance sheet. |
Segment_Reporting_Tables
Segment Reporting (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Segment Reporting, Measurement Disclosures [Abstract] | ||||||||
Revenue and Operating Cash Flow by Segment | ||||||||
Revenue | ||||||||
Three months ended March 31, | ||||||||
2015 | 2014 | |||||||
in millions | ||||||||
European Operations Division: | ||||||||
U.K./Ireland | $ | 1,711.40 | $ | 1,847.50 | ||||
The Netherlands (a) | 707.4 | 318.1 | ||||||
Germany | 597.9 | 695.9 | ||||||
Belgium | 502.7 | 574.2 | ||||||
Switzerland/Austria | 439.3 | 463.8 | ||||||
Total Western Europe | 3,958.70 | 3,899.50 | ||||||
Central and Eastern Europe | 268.2 | 323.9 | ||||||
Central and other | (2.8 | ) | (0.8 | ) | ||||
Total European Operations Division | 4,224.10 | 4,222.60 | ||||||
Chile | 208.8 | 225.3 | ||||||
Corporate and other | 91.8 | 93.1 | ||||||
Intersegment eliminations (b) | (7.8 | ) | (7.3 | ) | ||||
Total | $ | 4,516.90 | $ | 4,533.70 | ||||
______________ | ||||||||
(a) | The amount presented for the 2014 period excludes the revenue of Ziggo, which was acquired on November 11, 2014. | |||||||
(b) | Amounts are primarily related to transactions between our European Operations Division and our continuing programming operations. | |||||||
Operating cash flow | ||||||||
Three months ended March 31, | ||||||||
2015 | 2014 | |||||||
in millions | ||||||||
European Operations Division: | ||||||||
U.K./Ireland | $ | 763.3 | $ | 791.6 | ||||
The Netherlands (a) | 367.9 | 183.3 | ||||||
Germany | 364 | 429 | ||||||
Belgium | 247 | 302.1 | ||||||
Switzerland/Austria | 248.8 | 264.4 | ||||||
Total Western Europe | 1,991.00 | 1,970.40 | ||||||
Central and Eastern Europe | 118.1 | 158.2 | ||||||
Central and other | (67.9 | ) | (70.9 | ) | ||||
Total European Operations Division | 2,041.20 | 2,057.70 | ||||||
Chile | 76 | 82.7 | ||||||
Corporate and other | (19.9 | ) | (16.9 | ) | ||||
Intersegment eliminations (b) | — | 4 | ||||||
Total | $ | 2,097.30 | $ | 2,127.50 | ||||
______________ | ||||||||
(a) | The amount presented for the 2014 period excludes the operating cash flow of Ziggo, which was acquired on November 11, 2014. | |||||||
(b) | The amount for the 2014 period is 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 loss from continuing operations before income taxes: | |||||||
Three months ended March 31, | ||||||||
2015 | 2014 | |||||||
in millions | ||||||||
Total segment operating cash flow from continuing operations | $ | 2,097.30 | $ | 2,127.50 | ||||
Share-based compensation expense | (71.4 | ) | (55.1 | ) | ||||
Depreciation and amortization | (1,451.4 | ) | (1,377.1 | ) | ||||
Impairment, restructuring and other operating items, net | (17.0 | ) | (113.6 | ) | ||||
Operating income | 557.5 | 581.7 | ||||||
Interest expense | (615.9 | ) | (653.5 | ) | ||||
Realized and unrealized gains (losses) on derivative instruments, net | 618.5 | (376.6 | ) | |||||
Foreign currency transaction losses, net | (1,035.6 | ) | (20.8 | ) | ||||
Realized and unrealized gains (losses) due to changes in fair values of certain investments, net | 151.4 | (60.2 | ) | |||||
Losses on debt modification and extinguishment, net | (274.5 | ) | (20.9 | ) | ||||
Other income (expense), net | (1.0 | ) | 13.3 | |||||
Loss from continuing operations before income taxes | $ | (599.6 | ) | $ | (537.0 | ) | ||
Schedule of Reporting Capital Expenditures of Reportable Segments | The property and equipment additions of our reportable segments (including capital additions financed under vendor financing or capital lease arrangements) are presented below and reconciled to the capital expenditure amounts included in our condensed consolidated statements of cash flows. For additional information concerning capital additions financed under vendor financing and capital lease arrangements, see note 7. | |||||||
Three months ended March 31, | ||||||||
2015 | 2014 | |||||||
in millions | ||||||||
European Operations Division: | ||||||||
U.K./Ireland | $ | 347.3 | $ | 369.3 | ||||
The Netherlands (a) | 120.8 | 52.2 | ||||||
Germany | 142.9 | 146 | ||||||
Belgium | 63.2 | 91.8 | ||||||
Switzerland/Austria | 56.6 | 73.8 | ||||||
Total Western Europe | 730.8 | 733.1 | ||||||
Central and Eastern Europe | 48.6 | 46.1 | ||||||
Central and other | 50.3 | 69.9 | ||||||
Total European Operations Division | 829.7 | 849.1 | ||||||
Chile | 40.4 | 45.3 | ||||||
Corporate and other | 54.8 | 15.8 | ||||||
Property and equipment additions | 924.9 | 910.2 | ||||||
Assets acquired under capital-related vendor financing arrangements | (295.0 | ) | (170.5 | ) | ||||
Assets acquired under capital leases | (62.0 | ) | (49.0 | ) | ||||
Changes in current liabilities related to capital expenditures | 93.3 | 44.3 | ||||||
Total capital expenditures | $ | 661.2 | $ | 735 | ||||
______________ | ||||||||
(a) | The amount presented for the 2014 period excludes the property and equipment additions of Ziggo, which was acquired on November 11, 2014. | |||||||
Revenue by Major Category | Our revenue by major category is set forth below: | |||||||
Three months ended March 31, | ||||||||
2015 | 2014 | |||||||
in millions | ||||||||
Subscription revenue (a): | ||||||||
Video | $ | 1,607.90 | $ | 1,640.50 | ||||
Broadband internet | 1,239.20 | 1,143.90 | ||||||
Fixed-line telephony | 799.7 | 826.4 | ||||||
Cable subscription revenue | 3,646.80 | 3,610.80 | ||||||
Mobile subscription revenue (b) | 251.7 | 257.3 | ||||||
Total subscription revenue | 3,898.50 | 3,868.10 | ||||||
B2B revenue (c) | 373.9 | 367 | ||||||
Other revenue (b) (d) | 244.5 | 298.6 | ||||||
Total revenue | $ | 4,516.90 | $ | 4,533.70 | ||||
_______________ | ||||||||
(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 $54.4 million and $60.8 million during the three months ended March 31, 2015 and 2014, 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 $66.6 million and $52.0 million during the three months ended March 31, 2015 and 2014, respectively, is included in cable subscription revenue. | |||||||
(d) | Other revenue includes, among other items, interconnect, carriage fee, mobile handset and installation revenue. | |||||||
Geographic Segments | The revenue of our geographic segments is set forth below: | |||||||
Three months ended March 31, | ||||||||
2015 | 2014 | |||||||
in millions | ||||||||
European Operations Division: | ||||||||
U.K. | $ | 1,612.00 | $ | 1,727.90 | ||||
The Netherlands (a) | 707.4 | 318.1 | ||||||
Germany | 597.9 | 695.9 | ||||||
Belgium | 502.7 | 574.2 | ||||||
Switzerland | 346.8 | 352.8 | ||||||
Poland | 101 | 120.5 | ||||||
Ireland | 99.4 | 119.6 | ||||||
Austria | 92.5 | 111 | ||||||
Hungary | 65 | 78.7 | ||||||
The Czech Republic | 44.4 | 58.8 | ||||||
Romania | 38.9 | 43.5 | ||||||
Slovakia | 15.2 | 19.2 | ||||||
Other | 0.9 | 2.4 | ||||||
Total European Operations Division | 4,224.10 | 4,222.60 | ||||||
Chile | 208.8 | 225.3 | ||||||
Puerto Rico | 79 | 74.7 | ||||||
Other, including intersegment eliminations | 5 | 11.1 | ||||||
Total | $ | 4,516.90 | $ | 4,533.70 | ||||
______________ | ||||||||
(a) | The amount presented for the 2014 period excludes the revenue of Ziggo, which was acquired on November 11, 2014. |
Subsequent_Events_Tables
Subsequent Events (Tables) | 3 Months Ended | ||||
Mar. 31, 2015 | |||||
Subsequent Events [Abstract] | |||||
Debt Instrument Redemption | Upon the occurrence of an Early Redemption Event on or after the applicable UPCB Finance IV Notes Call Date, UPCB Finance IV will redeem an aggregate principal amount of the UPCB Finance IV Notes equal to the principal amount of the related facility prepaid at the following redemption prices (expressed as a percentage of the principal amount), plus accrued and unpaid interest and additional amounts, (as specified in the applicable indenture), if any, to the applicable redemption date, if redeemed during the 12-month period commencing on January 15 of the years set forth below: | ||||
Redemption price | |||||
Year | UPCB Finance IV Dollar Notes | UPCB Finance IV Euro Notes | |||
2020 | 102.69% | N.A. | |||
2021 | 101.79% | 102.00% | |||
2022 | 100.90% | 101.00% | |||
2023 | 100.00% | 100.50% | |||
2024 and thereafter | 100.00% | 100.00% |
Basis_of_Presentation_Narrativ
Basis of Presentation (Narrative) (Details) | 3 Months Ended |
Mar. 31, 2015 | |
Basis of Presentation [Line Items] | |
Number of countries in which entity provides services (in countries) | 14 |
Puerto Rico [Member] | |
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) | 8 |
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 | 56.80% |
Acquisitions_Narrative_Details
Acquisitions (Narrative) (Details) | Jun. 30, 2015 | Dec. 09, 2014 | Dec. 09, 2014 | Jun. 30, 2015 | Nov. 11, 2014 | Nov. 11, 2014 | Mar. 31, 2014 | Nov. 19, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Oct. 10, 2014 |
In Millions, except Share data, unless otherwise specified | Choice Acquisition [Member] | Choice Acquisition [Member] | Choice Acquisition [Member] | Choice Acquisition [Member] | Ziggo Acquisition [Member] | Ziggo Acquisition [Member] | Ziggo Acquisition [Member] | Ziggo NCI Acquisition [Member] | Ziggo Statutory Squeeze-Out [Member] | Ziggo Statutory Squeeze-Out [Member] | Ziggo Merger Agreement [Member] |
Parent Company [Member] | Searchlight [Member] | Searchlight [Member] | Searchlight [Member] | USD ($) | EUR (€) | Film1 [Member] | |||||
Scenario, Forecast [Member] | USD ($) | Scenario, Forecast [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||||
Expected percentage of voting interests acquired | 100.00% | ||||||||||
Expected consideration transfered | $272.50 | ||||||||||
Liabilities incurred | $257.50 | ||||||||||
Percentage of voting interests acquired | 60.00% | 40.00% | 100.00% | ||||||||
Equity interest acquired (in shares) | 136,603,794 | 18,998,057 | 3,162,605 | 3,162,605 | |||||||
Percentage of voting interests owned | 88.90% | ||||||||||
Ownership percentage by parent | 98.40% | ||||||||||
Equity interest transferred in cash (in euro / dollars per share) | $42.68 | € 39.78 | |||||||||
Commitment term | 3 years |
Acquisitions_Pro_Forma_Informa
Acquisitions (Pro Forma Information) (Details) (USD $) | 3 Months Ended |
In Millions, except Per Share data, unless otherwise specified | Mar. 31, 2014 |
Ziggo Acquisition [Member] | |
Business Acquisition [Line Items] | |
Revenue | $5,095.90 |
Net loss attributable to Liberty Global shareholders | -264.7 |
Basic and diluted loss attributable to Liberty Global shareholders per share | ($0.29) |
Continuing Operations [Member] | Ziggo Acquisition [Member] | |
Business Acquisition [Line Items] | |
Revenue | 5,069.30 |
Discontinued Operations [Member] | |
Business Acquisition [Line Items] | |
Revenue | $26.60 |
Derivative_Instruments_Narrati
Derivative Instruments (Narrative) (Details) (USD $) | 3 Months Ended | |||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | Mar. 30, 2015 |
Derivative [Line Items] | ||||
Derivative assets | $2,635.80 | $1,761.40 | ||
VM Convertible Senior Notes [Member] | ||||
Derivative [Line Items] | ||||
Interest rate | 6.50% | |||
Cross-currency and interest rate derivative contracts | ||||
Derivative [Line Items] | ||||
Valuation adjustment in asset cross currency and interest rate derivative contracts | 78.1 | 30.9 | ||
Valuation adjustment in liability cross currency and interest rate derivative contracts | 90.5 | 64.6 | ||
Gain (loss) in changes in the credit risk valuation adjustments associated with our cross-currency and interest rate derivative contracts | -16.9 | -29.5 | ||
Derivative assets | 2,239.10 | 1,357.30 | ||
Counterparty Credit Risk [Member] | ||||
Derivative [Line Items] | ||||
Derivative assets | $2,197.70 |
Derivative_Instruments_Fair_Va
Derivative Instruments (Fair Values of Derivative Assets and Liabilities) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Assets: | ||
Current | $230.90 | $446.60 |
Long-term | 2,404.90 | 1,314.80 |
Total | 2,635.80 | 1,761.40 |
Liabilities: | ||
Current | 390.8 | 1,043.70 |
Long-term | 1,729.40 | 1,517.10 |
Total | 2,120.20 | 2,560.80 |
Cross-currency and interest rate derivative contracts | ||
Assets: | ||
Current | 224.5 | 443.6 |
Long-term | 2,014.60 | 913.7 |
Total | 2,239.10 | 1,357.30 |
Liabilities: | ||
Current | 362.3 | 1,027.40 |
Long-term | 1,550.80 | 1,443.90 |
Total | 1,913.10 | 2,471.30 |
Equity Contract [Member] | ||
Assets: | ||
Current | 0 | 0 |
Long-term | 389 | 400.2 |
Total | 389 | 400.2 |
Liabilities: | ||
Current | 13.6 | 15.3 |
Long-term | 178.5 | 73.1 |
Total | 192.1 | 88.4 |
Foreign Exchange Forward [Member] | ||
Assets: | ||
Current | 5.3 | 2.5 |
Long-term | 0 | 0 |
Total | 5.3 | 2.5 |
Liabilities: | ||
Current | 14.7 | 0.8 |
Long-term | 0 | 0 |
Total | 14.7 | 0.8 |
Other | ||
Assets: | ||
Current | 1.1 | 0.5 |
Long-term | 1.3 | 0.9 |
Total | 2.4 | 1.4 |
Liabilities: | ||
Current | 0.2 | 0.2 |
Long-term | 0.1 | 0.1 |
Total | $0.30 | $0.30 |
Derivative_Instruments_Realize
Derivative Instruments (Realized and Unrealized Gains (Losses) on Derivatives) (Schedule and Footnotes) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Derivative [Line Items] | ||
Gain (loss) on derivative instruments, net | $618.50 | ($376.60) |
Cross-currency and interest rate derivative contracts | ||
Derivative [Line Items] | ||
Gain (loss) on derivative instruments, net | 740.5 | -420.2 |
Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Gain (loss) on derivative instruments, net | -8.1 | 20 |
Equity Contract [Member] | ||
Derivative [Line Items] | ||
Gain (loss) on derivative instruments, net | -114.9 | 24.1 |
Other | ||
Derivative [Line Items] | ||
Gain (loss) on derivative instruments, net | 1 | -0.5 |
ITV Collar [Member] | Equity Contract [Member] | ||
Derivative [Line Items] | ||
Gain (loss) on derivative instruments, net | -105.4 | 0 |
Sumitomo Collar [Member] | Equity Contract [Member] | ||
Derivative [Line Items] | ||
Gain (loss) on derivative instruments, net | -10.1 | 8.5 |
Virgin Media Capped Call [Member] | Equity Contract [Member] | ||
Derivative [Line Items] | ||
Gain (loss) on derivative instruments, net | 0.6 | 0.2 |
Ziggo Collar [Member] | Equity Contract [Member] | ||
Derivative [Line Items] | ||
Gain (loss) on derivative instruments, net | $0 | $15.40 |
Derivative_Instruments_Net_Cas
Derivative Instruments (Net Cash Received (Paid) Related to Derivatives) (Schedule) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Operating activities | ($137.80) | ($210.80) |
Investing activities | 2.6 | 0 |
Financing activities | -486.5 | -98.2 |
Total | ($621.70) | ($309) |
Derivative_Instruments_Crosscu
Derivative Instruments (Cross-currency Swaps) (Schedule) (Details) (Cross-currency and interest rate derivative contracts) | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 |
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 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] |
January 2023 400.0 USD 339.6 GBP [Member] | February 2022 1400.0 USD 873.6 GBP [Member] | October 2020 1370.4 USD 881.6 GBP [Member] | June 2020 984.6 USD 640.1 GBP [Member] | January 2021 500.0 USD 308.9 GBP [Member] | January 2023 500.0 USD 325.1 GBP [Member] | October 2022 450.0 USD 272.0 GBP [Member] | January 2022 425.0 USD 255.8 GBP [Member] | April 2019 191.5 USD 122.3 GBP [Member] | November 2016 55.0 USD 27.7 GBP [Member] | October 2019 170.0 USD 102.9 GBP [Member] | October 2019 - October 2022 50.0 USD 30.7 GBP [Member] | July 2016 575.0 USD 434.1 EUR [Member] | July 2016 - July 2018 575.0 USD 434.1 EUR [Member] | July 2021 440.0 USD 337.2 EUR [Member] | January 2020 327.5 USD 249.5 EUR [Member] | October 2020 300.0 USD 219.1 EUR [Member] | January 2017 - July 2021 262.1 USD 194.1 EUR [Member] | January 2018 250.0 USD 188.7 EUR [Member] | November 2019 250.0 USD 181.5 EUR [Member] | November 2021 250.0 USD 181.4 EUR [Member] | January 2020 197.5 USD 150.5 EUR [Member] | December 2016 340.0 USD [Member] | January 2017 - July 2021 300.0 USD 278.3 CHF [Member] | November 2019 250Usd 226.8Chf [Member] | July 2016 225.0 USD 206.3 CHF [Member] | July 2016 - January 2020 225.0 USD 206.3 CHF [Member] | July 2021 200.0 USD 186.0 CHF [Member] | July 2016 201.5 USD 489.3 RON [Member] | July 2016 - July 2020 201.5 USD 489.3 RON [Member] | January 2021 720.8 EUR 877.0 CHF [Member] | January 2017 - September 2022 383.8 EUR 477.0 CHF [Member] | 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 2021 161.4EUR 187.1 CHF [Member] | July 2020 107.4 EUR 129.0 CHF [Member] | January 2017 75.0 EUR 110.9 CHF [Member] | December 2015 69.1 EUR 53,000.0 CLP [Member] | January 2020 318.9 EUR 8818.7 CZK [Member] | January 2017 60.0 EUR 1703.1 CZK [Member] | July 2017 39.6 EUR 1,000.0 CZK [Member] | July 2016 260.0 EUR 75570.0 HUF [Member] | July 2016 - January 2017 260.0 EUR 75570.0 HUF [Member] | December 2016 150Euro 43367.5Huf [Member] | July 2018 78Euro 19500Huf [Member] | January 2017 245.0 EUR 1000.6 PLN [Member] | September 2016 200.0 EUR 892.7 PLN [Member] | January 2020 144.6 EUR 605.0 PLN [Member] | July 2017 82Euro 318Pln [Member] | December 2015 53,000.0 CLP 69.1 EUR [Member] | January 2022 2,350.0 USD 1,727.0 EUR [Member] | January 2023 400.0 USD 339.0 EUR [Member] | January 2023 1,652.9 USD 1,252.5 EUR [Member] | January 2021 1000.0 USD 688.2 EUR [Member] | January 2022 1,400.0 USD 760,340.0 CLP [Member] | January 2023 400.0 USD 339.6 GBP [Member] | February 2022 1400.0 USD 873.6 GBP [Member] | October 2020 1370.4 USD 881.6 GBP [Member] | June 2020 984.6 USD 640.1 GBP [Member] | January 2021 500.0 USD 308.9 GBP [Member] | January 2023 500.0 USD 325.1 GBP [Member] | October 2022 450.0 USD 272.0 GBP [Member] | January 2022 425.0 USD 255.8 GBP [Member] | April 2019 191.5 USD 122.3 GBP [Member] | November 2016 55.0 USD 27.7 GBP [Member] | October 2019 170.0 USD 102.9 GBP [Member] | October 2019 - October 2022 50.0 USD 30.7 GBP [Member] | July 2016 575.0 USD 434.1 EUR [Member] | July 2016 - July 2018 575.0 USD 434.1 EUR [Member] | July 2021 440.0 USD 337.2 EUR [Member] | January 2020 327.5 USD 249.5 EUR [Member] | October 2020 300.0 USD 219.1 EUR [Member] | January 2017 - July 2021 262.1 USD 194.1 EUR [Member] | January 2018 250.0 USD 188.7 EUR [Member] | November 2019 250.0 USD 181.5 EUR [Member] | November 2021 250.0 USD 181.4 EUR [Member] | January 2020 197.5 USD 150.5 EUR [Member] | December 2016 340.0 USD [Member] | January 2017 - July 2021 300.0 USD 278.3 CHF [Member] | November 2019 250Usd 226.8Chf [Member] | July 2016 225.0 USD 206.3 CHF [Member] | July 2016 - January 2020 225.0 USD 206.3 CHF [Member] | July 2021 200.0 USD 186.0 CHF [Member] | July 2016 201.5 USD 489.3 RON [Member] | July 2016 - July 2020 201.5 USD 489.3 RON [Member] | January 2021 720.8 EUR 877.0 CHF [Member] | January 2017 - September 2022 383.8 EUR 477.0 CHF [Member] | 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 2021 161.4EUR 187.1 CHF [Member] | July 2020 107.4 EUR 129.0 CHF [Member] | January 2017 75.0 EUR 110.9 CHF [Member] | December 2015 69.1 EUR 53,000.0 CLP [Member] | January 2020 318.9 EUR 8818.7 CZK [Member] | January 2017 60.0 EUR 1703.1 CZK [Member] | July 2017 39.6 EUR 1,000.0 CZK [Member] | July 2016 260.0 EUR 75570.0 HUF [Member] | July 2016 - January 2017 260.0 EUR 75570.0 HUF [Member] | December 2016 150Euro 43367.5Huf [Member] | July 2018 78Euro 19500Huf [Member] | January 2017 245.0 EUR 1000.6 PLN [Member] | September 2016 200.0 EUR 892.7 PLN [Member] | January 2020 144.6 EUR 605.0 PLN [Member] | July 2017 82Euro 318Pln [Member] | December 2015 53,000.0 CLP 69.1 EUR [Member] | January 2022 2,350.0 USD 1,727.0 EUR [Member] | January 2023 400.0 USD 339.0 EUR [Member] | January 2023 1,652.9 USD 1,252.5 EUR [Member] | January 2021 1000.0 USD 688.2 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] | 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] | Amsterdamse Beheer-en Consultingmaatschappij BV (ABC B.V.), a subsidiary of Ziggo [Member] | Amsterdamse Beheer-en Consultingmaatschappij BV (ABC B.V.), a subsidiary of Ziggo [Member] | Unitymedia Hessen [Member] | Unitymedia Hessen [Member] | VTR [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] | 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] | Amsterdamse Beheer-en Consultingmaatschappij BV (ABC B.V.), a subsidiary of Ziggo [Member] | Amsterdamse Beheer-en Consultingmaatschappij BV (ABC B.V.), a subsidiary of Ziggo [Member] | Unitymedia Hessen [Member] | Unitymedia Hessen [Member] | VTR [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 ($) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | CLP | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | GBP (£) | GBP (£) | GBP (£) | GBP (£) | GBP (£) | GBP (£) | GBP (£) | GBP (£) | GBP (£) | GBP (£) | GBP (£) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | CHF | CHF | CHF | CHF | CHF | CHF | RON | RON | CHF | CHF | CHF | CHF | CHF | CHF | CHF | CHF | CLP | CZK | CZK | CZK | HUF | HUF | HUF | HUF | PLN | PLN | PLN | PLN | EUR (€) | EUR (€) | EUR (€) | EUR (€) | EUR (€) | CLP | |
Derivative [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notional amount of derivative | $400 | $1,400 | $1,370.40 | $984.60 | $500 | $500 | $450 | $425 | $191.50 | $55 | $50 | $50 | $575 | $575 | $440 | $327.50 | $300 | $262.10 | $250 | $250 | $250 | $197.50 | $340 | $300 | $250 | $225 | $225 | $200 | $201.50 | $201.50 | € 720.80 | € 383.80 | € 360.40 | € 285.10 | € 175 | € 161.40 | € 107.40 | € 75 | € 69.10 | € 318.90 | € 60 | € 39.60 | € 260 | € 260 | € 150 | € 78 | € 245 | € 200 | € 144.60 | € 82 | 53,000 | $2,350 | $400 | $1,652.90 | $797.10 | $1,400 | € 339.60 | £ 873.6 | £ 881.6 | £ 640.1 | £ 308.9 | £ 325.1 | £ 272 | £ 255.8 | £ 122.3 | £ 27.7 | £ 30.3 | £ 30.7 | € 434.10 | € 434.10 | € 337.20 | € 249.50 | € 219.10 | € 194.10 | € 188.70 | € 181.50 | € 181.40 | € 150.50 | 370.9 | 278.3 | 226.8 | 206.3 | 206.3 | 186 | 489.3 | 489.3 | 877 | 477 | 589 | 346.7 | 258.6 | 187.1 | 129 | 110.9 | 53,000 | 8,818.70 | 1,703.10 | 1,000 | 75,570 | 75,570 | 43,367.50 | 19,500 | 1,000.60 | 892.7 | 605 | 318 | € 69.10 | € 1,727 | € 339 | € 1,252.50 | € 546.50 | 760,340 |
Derivative Interest Rate Referenced | 6B mo.B LIBOR | 6B mo.B LIBOR | 6 mo. LIBOR | 6 mo. 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 | 6 mo. LIBOR | 6B mo.B LIBOR | 6B mo.B LIBOR | 6B mo.B EURIBOR | 6B mo.B EURIBOR | 6B mo.B EURIBOR | 6 mo. EURIBOR | 6B mo.B EURIBOR | 6 mo. LIBOR | 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 CHFB LIBOR | 6B mo.B CHFB LIBOR | 6 mo. CHF LIBOR | 6 mo. CHF LIBOR | 6B mo.B CHFB LIBOR | 6B mo.B CHFB LIBOR | 6B mo.B CHFB LIBOR | 6 mo. CHF LIBOR | 6B mo.B CHFB LIBOR | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Interest Rate Above Referenced Rate | 2.75% | 2.75% | 2.40% | 2.40% | 2.50% | 4.92% | 3.00% | 2.50% | 1.75% | 4.92% | 3.50% | 2.50% | 4.81% | 4.81% | 2.50% | 3.50% | 3.50% | 2.50% | 2.00% | 3.75% | 2.35% | 3.00% | 2.75% | 3.10% | 3.18% | 2.06% | 2.87% | 3.04% | 2.51% | 4.91% | 4.01% | 2.46% | 5.01% | 2.55% | 2.62% | 2.22% | 3.94% | 2.76% | 3.28% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Interest Rate | 5.75% | 5.01% | 5.25% | 5.25% | 6.00% | 5.50% | 5.38% | 6.50% | 8.38% | 6.00% | 7.25% | 7.25% | 7.25% | 10.51% | 7.63% | 7.63% | 3.50% | 5.58% | 5.50% | 3.00% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 6.00% | 5.50% | 3.00% | 5.75% | 5.88% | 5.67% | 5.50% | 6.88% | 4.33% | 5.49% | 5.26% | 6.43% | 5.82% | 5.49% | 7.03% | 8.98% | 5.75% | 3.78% | 6.68% | 7.52% | 5.91% | 7.74% | 7.50% | 1.00% | 5.44% | 1.40% | 11.34% | 9.87% | 6.76% | 6.98% | 5.75% | 5.44% | 6.99% | 3.75% | 5.00% | 10.56% | 2.00% | 9.15% | 9.03% | 3.91% | 7.98% | 5.60% | 3.50% | 4.56% | 4.58% | 4.50% | 5.60% | 10.94% |
Derivative_Instruments_Interes
Derivative Instruments (Interest Rate Swaps) (Schedule) (Details) (Interest Rate Swap [Member]) | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 |
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] | July 2020 750.0 EUR [Member] | July 2016 631.3 EUR [Member] | July 2016 - January 2021 250.0 EUR [Member] | July 2016 - January 2023 210.0 EUR [Member] | July 2016 - July 2020 171.3 EUR [Member] | November 2021 107.0 EUR [Member] | July 2016 900.0 CHF [Member] | January 2022 711.5 CHF [Member] | July 2016 b January 2021 500.0 CHF 1.65% [Member] | July 2016 - January 2018 400.0 CHF [Member] | December 2016 370.9Chf 3.82Percent [Member] | November 2019 226.8 CHF 6.88 Percent [Member] | January 2022 1,556.0 EUR [Member] | January 2016 689.0 EUR [Member] | January 2021 500.0 EUR [Member] | July 2016 290.0 EUR [Member] | July 2016 - January 2023 290.0 EUR [Member] | March 2021 175.0 EUR [Member] | July 2016 171.3 EUR [Member] | July 2016 - January 2022 171.3 EUR [Member] | June 2023 500.0 EUR [Member] | July 2017 - June 2022 420.0 EUR [Member] | June 2021 400.0 EUR [Member] | July 2017 - June 2023 382.0 EUR [Member] | July 2017 150.0 EUR [Member] | August 2015 - June 2022 55.0 EUR [Member] | June 2015 50Euro 3.55Percent [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] |
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] | Amsterdamse Beheer-en Consultingmaatschappij BV (ABC B.V.), a subsidiary of Ziggo [Member] | Amsterdamse Beheer-en Consultingmaatschappij BV (ABC B.V.), a subsidiary of Ziggo [Member] | 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] | 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] | July 2020 750.0 EUR [Member] | July 2016 631.3 EUR [Member] | July 2016 - January 2021 250.0 EUR [Member] | July 2016 - January 2023 210.0 EUR [Member] | July 2016 - July 2020 171.3 EUR [Member] | November 2021 107.0 EUR [Member] | July 2016 900.0 CHF [Member] | January 2022 711.5 CHF [Member] | July 2016 b January 2021 500.0 CHF 1.65% [Member] | July 2016 - January 2018 400.0 CHF [Member] | December 2016 370.9Chf 3.82Percent [Member] | November 2019 226.8 CHF 6.88 Percent [Member] | January 2022 1,556.0 EUR [Member] | January 2016 689.0 EUR [Member] | January 2021 500.0 EUR [Member] | July 2016 290.0 EUR [Member] | July 2016 - January 2023 290.0 EUR [Member] | March 2021 175.0 EUR [Member] | July 2016 171.3 EUR [Member] | July 2016 - January 2022 171.3 EUR [Member] | June 2023 500.0 EUR [Member] | July 2017 - June 2022 420.0 EUR [Member] | June 2021 400.0 EUR [Member] | July 2017 - June 2023 382.0 EUR [Member] | July 2017 150.0 EUR [Member] | August 2015 - June 2022 55.0 EUR [Member] | June 2015 50Euro 3.55Percent [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] | July 2020 750.0 EUR [Member] | July 2016 631.3 EUR [Member] | July 2016 - January 2021 250.0 EUR [Member] | July 2016 - January 2023 210.0 EUR [Member] | July 2016 - July 2020 171.3 EUR [Member] | November 2021 107.0 EUR [Member] | July 2016 900.0 CHF [Member] | January 2022 711.5 CHF [Member] | July 2016 b January 2021 500.0 CHF 1.65% [Member] | July 2016 - January 2018 400.0 CHF [Member] | December 2016 370.9Chf 3.82Percent [Member] | November 2019 226.8 CHF 6.88 Percent [Member] | January 2022 1,556.0 EUR [Member] | January 2016 689.0 EUR [Member] | January 2021 500.0 EUR [Member] | July 2016 290.0 EUR [Member] | July 2016 - January 2023 290.0 EUR [Member] | March 2021 175.0 EUR [Member] | July 2016 171.3 EUR [Member] | July 2016 - January 2022 171.3 EUR [Member] | June 2023 500.0 EUR [Member] | July 2017 - June 2022 420.0 EUR [Member] | June 2021 400.0 EUR [Member] | July 2017 - June 2023 382.0 EUR [Member] | July 2017 150.0 EUR [Member] | August 2015 - June 2022 55.0 EUR [Member] | June 2015 50Euro 3.55Percent [Member] | |
GBP (£) | GBP (£) | GBP (£) | GBP (£) | GBP (£) | USD ($) | USD ($) | 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 (€) | 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] | Amsterdamse Beheer-en Consultingmaatschappij BV (ABC B.V.), a subsidiary of Ziggo [Member] | Amsterdamse Beheer-en Consultingmaatschappij BV (ABC B.V.), a subsidiary of Ziggo [Member] | 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] | 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] | Amsterdamse Beheer-en Consultingmaatschappij BV (ABC B.V.), a subsidiary of Ziggo [Member] | Amsterdamse Beheer-en Consultingmaatschappij BV (ABC B.V.), a subsidiary of Ziggo [Member] | 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] | |
Derivative [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notional amount of derivative | £ 2,155 | £ 650 | £ 650 | £ 600 | £ 300 | $1,000 | $750 | € 750 | € 631.30 | € 250 | € 210 | € 171.30 | € 107 | 900 | 711.5 | 500 | 400 | 370.9 | 226.8 | € 1,566 | € 689 | € 500 | € 290 | € 290 | € 175 | € 171.30 | € 171.30 | € 500 | € 420 | € 400 | € 382 | € 150 | € 55 | € 50 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Interest Rate | 5.50% | 6.63% | 6.88% | 6.38% | 1.52% | 3.87% | 2.90% | 1.37% | 0.20% | 2.52% | 2.88% | 3.95% | 2.89% | 0.05% | 1.89% | 1.65% | 2.51% | 3.82% | 6.88% | 1.66% | 2.60% | 0.20% | 2.84% | 2.32% | 0.20% | 3.44% | 1.45% | 2.08% | 0.41% | 1.89% | 3.55% | 1.81% | 3.55% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Interest Rate Referenced | 6 mo. GBP LIBOR | 6B mo. GBP LIBOR | 6 mo. GBP LIBOR | 6 mo. GBP LIBOR | 6B mo.B EURIBOR | 6B mo.B EURIBOR | 6B mo.B 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 | 6B mo.B EURIBOR | 1B 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 | 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% | 5.01% | 3.75% | 1.84% | 3.03% | 4.89% | 3.16% | 3.59% |
Derivative_Instruments_Interes1
Derivative Instruments (Interest Rate Caps) (Schedule) (Details) (EUR €) | Mar. 31, 2015 |
In Millions, unless otherwise specified | |
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 0.6 EUR 6.50 Percent [Member] | Interest Rate Cap [Member] | Telenet NV [Member] | |
Derivative [Line Items] | |
Notional amount of derivative | 0.6 |
Maximum rate | 6.50% |
December 2017 0.6 EUR 5.50 Percent [Member] | Interest Rate Cap [Member] | Telenet NV [Member] | |
Derivative [Line Items] | |
Notional amount of derivative | 0.6 |
Maximum rate | 5.50% |
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 €) | Mar. 31, 2015 |
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 650.0 EUR [Member] | Telenet International [Member] | |
Derivative [Line Items] | |
Notional amount of derivative | € 650 |
Minimum rate | 2.00% |
Maximum rate | 4.00% |
Derivative_Instruments_Foreign
Derivative Instruments (Foreign Currency Forwards) (Schedule) (Details) (Foreign Exchange Forward [Member]) | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 |
In Millions, unless otherwise specified | LGE Financing [Member] | LGE Financing [Member] | 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] | Telenet [Member] | Telenet [Member] | VTR [Member] | VTR [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 (€) | USD ($) | EUR (€) | EUR (€) | GBP (£) | USD ($) | CZK | CHF | EUR (€) | CZK | EUR (€) | EUR (€) | HUF | EUR (€) | PLN | EUR (€) | RON | EUR (€) | GBP (£) | CZK | EUR (€) | EUR (€) | HUF | EUR (€) | PLN | USD ($) | EUR (€) | USD ($) | CLP | |
Derivative [Line Items] | ||||||||||||||||||||||||||||||
Notional amount of derivative | $674.90 | € 629 | $277.20 | € 255 | € 45.40 | £ 33 | $22.20 | 540 | 109.5 | € 97.50 | 540 | € 19.50 | € 19.30 | 6,000 | € 42.60 | 180 | € 39.20 | 175.2 | € 4.80 | £ 3.6 | 249 | € 9 | € 6.50 | 1,950 | € 19.40 | 79.5 | $49.40 | € 43.70 | $62.70 | 38,702.90 |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) (ITV Collar [Member]) | Mar. 31, 2015 |
Minimum [Member] | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |
Estimated volatilities | 24.40% |
Maximum [Member] | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |
Estimated volatilities | 30.10% |
Fair_Value_Measurements_Summar
Fair Value Measurements (Summary of Assets and Liabilities at Fair Value) (Schedule) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Assets: | ||
Derivative instruments | $2,635.80 | $1,761.40 |
Investments, fair value | 1,804.40 | 1,662.70 |
Total assets | 4,440.20 | 3,424.10 |
Liabilities: | ||
Derivative instruments | 2,120.20 | 2,560.80 |
Total liabilities | 2,120.20 | 2,560.80 |
Quoted prices in active markets for identical assets (Level 1) | ||
Assets: | ||
Derivative instruments | 0 | 0 |
Investments, fair value | 1,464.60 | 1,344.30 |
Total assets | 1,464.60 | 1,344.30 |
Liabilities: | ||
Total liabilities | 0 | 0 |
Significant other observable inputs (Level 2) | ||
Assets: | ||
Derivative instruments | 2,246.80 | 1,361.20 |
Investments, fair value | 0 | 0 |
Total assets | 2,246.80 | 1,361.20 |
Liabilities: | ||
Total liabilities | 1,928.10 | 2,472.40 |
Significant unobservable inputs (Level 3) | ||
Assets: | ||
Derivative instruments | 389 | 400.2 |
Investments, fair value | 339.8 | 318.4 |
Total assets | 728.8 | 718.6 |
Liabilities: | ||
Total liabilities | 192.1 | 88.4 |
Cross-currency and interest rate derivative contracts | ||
Assets: | ||
Derivative instruments | 2,239.10 | 1,357.30 |
Liabilities: | ||
Derivative instruments | 1,913.10 | 2,471.30 |
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 | 2,239.10 | 1,357.30 |
Liabilities: | ||
Derivative instruments | 1,913.10 | 2,471.30 |
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 | 389 | 400.2 |
Liabilities: | ||
Derivative instruments | 192.1 | 88.4 |
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 | 389 | 400.2 |
Liabilities: | ||
Derivative instruments | 192.1 | 88.4 |
Foreign currency forward contracts | ||
Assets: | ||
Derivative instruments | 5.3 | 2.5 |
Liabilities: | ||
Derivative instruments | 14.7 | 0.8 |
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 | 5.3 | 2.5 |
Liabilities: | ||
Derivative instruments | 14.7 | 0.8 |
Foreign currency forward contracts | Significant unobservable inputs (Level 3) | ||
Assets: | ||
Derivative instruments | 0 | 0 |
Liabilities: | ||
Derivative instruments | 0 | 0 |
Other | ||
Assets: | ||
Derivative instruments | 2.4 | 1.4 |
Liabilities: | ||
Derivative instruments | 0.3 | 0.3 |
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 | 2.4 | 1.4 |
Liabilities: | ||
Derivative instruments | 0.3 | 0.3 |
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 $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |
Balance of net assets at January 1, 2015 | $630.20 |
Gains (losses) included in net loss (a): | |
Realized and unrealized losses on derivative instruments, net | -114.9 |
Realized and unrealized gains due to changes in fair values of certain investments, net | 31.1 |
Foreign currency translation adjustments, investments and other, net | -9.7 |
Balance of net assets at March 31, 2015 | 536.7 |
Investments | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |
Balance of net assets at January 1, 2015 | 318.4 |
Gains (losses) included in net loss (a): | |
Realized and unrealized losses on derivative instruments, net | 0 |
Realized and unrealized gains due to changes in fair values of certain investments, net | 31.1 |
Foreign currency translation adjustments, investments and other, net | -9.7 |
Balance of net assets at March 31, 2015 | 339.8 |
Equity-related derivative instruments | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |
Balance of net assets at January 1, 2015 | 311.8 |
Gains (losses) included in net loss (a): | |
Realized and unrealized losses on derivative instruments, net | -114.9 |
Realized and unrealized gains due to changes in fair values of certain investments, net | 0 |
Foreign currency translation adjustments, investments and other, net | 0 |
Balance of net assets at March 31, 2015 | $196.90 |
Longlived_Assets_Narrative_Det
Long-lived Assets (Narrative) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Long lived Assets | ||
Capital leases | $62 | $49 |
Noncash vendor financing arrangement, cash increase, excluding value added tax | 295 | 170.5 |
Value added tax, vendor financing arrangement | $35 | $16.30 |
Longlived_Assets_Schedule_of_P
Long-lived Assets (Schedule of PP&E) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Property and equipment, gross | $34,469.10 | $36,524.80 |
Accumulated depreciation | -12,647.20 | -12,684.20 |
Total property and equipment, net | 21,821.90 | 23,840.60 |
Distribution Systems [Member] | ||
Property and equipment, gross | 24,366 | 26,012.50 |
Customer Premises Equipment [Member] | ||
Property and equipment, gross | 5,977.10 | 6,213.90 |
Support Equipment, Buildings and Land [Member] | ||
Property and equipment, gross | $4,126 | $4,298.40 |
Longlived_Assets_Schedule_of_C
Long-lived Assets (Schedule of Changes in Carrying Amount of Goodwill) (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 |
Goodwill [Roll Forward] | |
Goodwill beginning balance | $29,001.60 |
Acquisitions and related adjustments | 133.5 |
Foreign currency translation adjustments | -2,205 |
Goodwill ending balance | 26,930.10 |
European Operations Division U.K / Ireland [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 9,245.10 |
Acquisitions and related adjustments | 0.4 |
Foreign currency translation adjustments | -451.8 |
Goodwill ending balance | 8,793.70 |
European Operations Division Netherlands [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 8,605 |
Acquisitions and related adjustments | 132.5 |
Foreign currency translation adjustments | -994.2 |
Goodwill ending balance | 7,743.30 |
European Operations Division Germany [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 3,456.90 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments | -392 |
Goodwill ending balance | 3,064.90 |
European Operations Division Belgium [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 1,978.90 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments | -224.4 |
Goodwill ending balance | 1,754.50 |
European Operations Division Switzerland / Austria [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 3,591.90 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments | -21.4 |
Goodwill ending balance | 3,570.50 |
European Operations Division Total Western Europe [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 26,877.80 |
Acquisitions and related adjustments | 132.9 |
Foreign currency translation adjustments | -2,083.80 |
Goodwill ending balance | 24,926.90 |
European Operations Division Central and Eastern Europe [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 1,302.10 |
Acquisitions and related adjustments | 0.6 |
Foreign currency translation adjustments | -108.3 |
Goodwill ending balance | 1,194.40 |
Total European Operations Division [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 28,179.90 |
Acquisitions and related adjustments | 133.5 |
Foreign currency translation adjustments | -2,192.10 |
Goodwill ending balance | 26,121.30 |
Chile [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 440.3 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments | -12.9 |
Goodwill ending balance | 427.4 |
Corporate and other [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 381.4 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments | 0 |
Goodwill ending balance | $381.40 |
Longlived_Assets_Schedule_of_I
Long-lived Assets (Schedule of Intangible Assets Subject to Amortization, Net) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Gross carrying amount | $11,161.50 | $12,377.90 |
Accumulated amortization | -3,244 | -3,188.10 |
Net carrying amount | 7,917.50 | 9,189.80 |
Customer Relationships [Member] | ||
Gross carrying amount | 10,962.60 | 12,142.50 |
Accumulated amortization | -3,130.90 | -3,056.30 |
Net carrying amount | 7,831.70 | 9,086.20 |
Other Intangible Assets [Member] | ||
Gross carrying amount | 198.9 | 235.4 |
Accumulated amortization | -113.1 | -131.8 |
Net carrying amount | $85.80 | $103.60 |
Debt_and_Capital_Lease_Obligat2
Debt and Capital Lease Obligations (Consolidated Debt and Capital Lease Obligations) (Details) | 3 Months Ended | 3 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | |
USD ($) | USD ($) | USD ($) | Unitymedia [Member] | Unitymedia [Member] | Ziggo [Member] | Ziggo [Member] | 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] | Ziggo Credit Facility [Member] | Ziggo Credit Facility [Member] | Ziggo Credit Facility [Member] | Ziggo SPE Notes [Member] | Ziggo SPE Notes [Member] | Ziggo SPE Notes [Member] | Ziggo Notes [Member] | Ziggo Notes [Member] | Ziggo Notes [Member] | Unitymedia Notes [Member] | Unitymedia Notes [Member] | Unitymedia Notes [Member] | Unitymedia Revolving Credit Facilities [Member] | Unitymedia Revolving Credit Facilities [Member] | Unitymedia Revolving Credit Facilities [Member] | UPCB SPE Notes Debt [Member] | UPCB SPE Notes Debt [Member] | UPCB SPE Notes Debt [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] | Telenet SPE Notes [Member] | Telenet SPE Notes [Member] | Telenet SPE Notes [Member] | Telenet Credit Facility [Member] | Telenet Credit Facility [Member] | Telenet Credit Facility [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] | Vendor Financing [Member] | Vendor Financing [Member] | Other Debt [Member] | Other Debt [Member] | Other Debt [Member] | Other Debt [Member] | Other Debt [Member] | Unitymedia Capital Lease Obligations [Member] | Unitymedia 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] | UM Senior Secured Facility [Member] | UM Senior Secured Facility [Member] | UM Super Senior Secured Revolving Facility [Member] | UM Super Senior Secured Revolving Facility [Member] | |
USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | GBP (£) | USD ($) | USD ($) | GBP (£) | USD ($) | USD ($) | GBP (£) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | United States of America, Dollars | Chile, Pesos | Chile, Pesos | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | USD ($) | EUR (€) | |||||
CLP | USD ($) | CLP | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Weighted average interest rate | 4.94% | 5.63% | 5.63% | 3.77% | 3.77% | 6.50% | 6.50% | 3.64% | 3.64% | 4.48% | 4.48% | 6.82% | 6.82% | 5.04% | 5.04% | 0.00% | 0.00% | 6.85% | 6.85% | 3.25% | 3.25% | 6.59% | 6.59% | 5.91% | 5.91% | 3.44% | 3.44% | 6.88% | 6.88% | 1.88% | 1.88% | 1.73% | 5.20% | 3.37% | 9.29% | 5.40% | ||||||||||||||||||||||||||||||||||||||||
Unused borrowing capacity | $3,702,800,000 | $0 | £ 0 | $979,700,000 | £ 660,000,000 | $0 | £ 0 | $697,300,000 | € 650,000,000 | $0 | € 0 | $0 | € 0 | $0 | € 0 | $536,400,000 | € 500,000,000 | $0 | € 0 | $907,800,000 | € 846,200,000 | $0 | € 0 | $0 | € 0 | $346,400,000 | € 322,900,000 | $0 | € 0 | $0 | € 0 | $0 | $40,000,000 | $0 | $195,200,000 | 160,000,000 | $35,200,000 | 22,000,000,000 | ||||||||||||||||||||||||||||||||||||||
Estimated fair value | 44,378,700,000 | 46,151,100,000 | 10,602,700,000 | 8,461,000,000 | 3,768,100,000 | 4,734,900,000 | 182,300,000 | 178,700,000 | 5,249,000,000 | 4,663,000,000 | 1,747,300,000 | 0 | 985,700,000 | 1,082,300,000 | 7,628,800,000 | 7,869,300,000 | 0 | 319,400,000 | 2,872,200,000 | 4,279,000,000 | 1,509,500,000 | 3,156,400,000 | 1,619,800,000 | 2,603,600,000 | 2,171,300,000 | 2,450,400,000 | 1,461,500,000 | 1,633,400,000 | 1,459,500,000 | 1,439,400,000 | 817,300,000 | 818,000,000 | 649,100,000 | 678,200,000 | 666,700,000 | 666,200,000 | 832,300,000 | 946,400,000 | 155,600,000 | 171,500,000 | ||||||||||||||||||||||||||||||||||||
Carrying value | 42,675,600,000 | 44,611,400,000 | 7,375,200,000 | 10,117,200,000 | 8,060,700,000 | 3,752,000,000 | 4,804,000,000 | 56,600,000 | 56,800,000 | 5,180,400,000 | 4,710,800,000 | 1,687,400,000 | 0 | 953,100,000 | 1,077,000,000 | 7,250,800,000 | 7,400,900,000 | 0 | 338,800,000 | 2,703,800,000 | 4,009,400,000 | 1,516,700,000 | 3,179,200,000 | 1,481,500,000 | 2,391,600,000 | 2,038,300,000 | 2,299,000,000 | 1,452,900,000 | 1,638,600,000 | 1,400,000,000 | 1,400,000,000 | 786,900,000 | 787,700,000 | 638,100,000 | 667,000,000 | 672,000,000 | 672,000,000 | 832,300,000 | 946,400,000 | 155,600,000 | 171,500,000 | |||||||||||||||||||||||||||||||||||
Fee on unused portion of credit facility | 1.30% | 1.30% | 1.10% | 1.34% | 1.34% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital lease obligations: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total capital lease obligations | 1,407,700,000 | 1,547,600,000 | 712,500,000 | 810,100,000 | 367,900,000 | 413,400,000 | 231,300,000 | 255,300,000 | 96,000,000 | 68,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total debt and capital lease obligations | 44,083,300,000 | 46,159,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current maturities | -1,292,800,000 | -1,550,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term debt and capital lease obligations | 42,790,500,000 | 44,608,100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Facility amount | 450,600,000 | 420,000,000 | 85,800,000 | 80,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying value | 3,752,000,000 | 5,180,400,000 | 1,516,700,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unused borrowing capacity considering limitations | 69,100,000 | 64,400,000 | 517,000,000 | 481,900,000 | 826,000,000 | 769,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum amount available to be loaned or distributed | 23,200,000 | 21,600,000 | 456,300,000 | 425,300,000 | 471,100,000 | 439,100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
General term of vendor financing arrangements | 1 year | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Value added tax, vendor financing arrangement | $35,000,000 | $16,300,000 | $90,900,000 | $101,700,000 |
Debt_and_Capital_Lease_Obligat3
Debt and Capital Lease Obligations (VM Notes) (Details) | 3 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | |||||||||||||||||||||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 30, 2015 | Mar. 31, 2015 | Mar. 30, 2015 | Mar. 30, 2015 | Mar. 30, 2015 | Mar. 30, 2015 | Mar. 30, 2015 | Mar. 30, 2015 | Mar. 30, 2015 | Mar. 30, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 30, 2015 | Mar. 30, 2015 | Mar. 30, 2015 | Mar. 30, 2015 |
2021 | VM Senior Secured Notes Redeemed [Member] | VM Senior Secured Notes Redeemed [Member] | VM Senior Secured Notes Redeemed [Member] | April 2021 VM Sterling Senior Secured Notes [Member] | April 2021 VM Sterling Senior Secured Notes [Member] | April 2021 VM Dollar Senior Secured Notes [Member] | 2025 VM Sterling Senior Secured Notes [Member] | 2025 VM Sterling Senior Secured Notes [Member] | VM Credit Facility A [Member] | VM Credit Facility A [Member] | VM Credit Facility B [Member] | VM Senior Notes [Member] | VM Senior Notes [Member] | VM Senior Secured Notes, 2025 [Member] | VM Senior Secured Notes, 2025 [Member] | VM Senior Secured Notes, 2025 [Member] | VM Senior Secured Notes, 2025 [Member] | VM Senior Secured Notes, 2025 [Member] | VM Senior Secured Notes, 2029 [Member] | VM Senior Secured Notes, 2029 [Member] | VM Senior Secured Notes, 2029 [Member] | Long-term Debt [Member] | Virgin Media Secured Finance [Member] | Virgin Media Secured Finance [Member] | Virgin Media Secured Finance [Member] | |
Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | USD ($) | GBP (£) | 2020 | 2021 | 2022 | 2023 | 2024 and thereafter | 2022 | 2023 | 2024 and thereafter | VM Credit Facility B [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | |||
USD ($) | USD ($) | GBP (£) | USD ($) | USD ($) | GBP (£) | USD ($) | GBP (£) | USD ($) | USD ($) | Original 2026 VM Senior Secured Notes [Member] | 2027 VM Senior Secured Notes [Member] | 2027 VM Senior Secured Notes [Member] | ||||||||||||||
USD ($) | USD ($) | GBP (£) | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||
Interest rate | 6.00% | 6.00% | 5.38% | 5.50% | 5.50% | 5.25% | 4.88% | 4.88% | ||||||||||||||||||
Principal amount of debt | $1,632.80 | £ 1,100 | $1,000 | $638.30 | £ 430 | $2,755 | $500 | $779.30 | £ 525 | |||||||||||||||||
Percentage of principal amount redeemed | 10.00% | |||||||||||||||||||||||||
Extinguishment of debt | 556.6 | 375 | 400 | |||||||||||||||||||||||
Redemption price | 102.44% | 103.00% | 102.63% | 101.31% | 100.66% | 100.00% | 100.00% | 101.22% | 100.61% | 100.00% | ||||||||||||||||
Percentage of principal amount limitation | 10.00% | |||||||||||||||||||||||||
Debt acceleration covenant threshold for event of default | 111.3 | 75 | ||||||||||||||||||||||||
Additional basis points used to determine redemption premium | 0.50% | |||||||||||||||||||||||||
Mandatory redemption price on senior Notes in event that certain assets sold or specific control changed | 101.00% | |||||||||||||||||||||||||
Gain (loss) on debt modification and extinguishment | -30.1 | |||||||||||||||||||||||||
Write-off of deferred financing costs | 17.9 | |||||||||||||||||||||||||
Payments for debt redemption premium | 10.7 | |||||||||||||||||||||||||
Write-off of unamortized debt discount (premium) | $1.50 |
Debt_and_Capital_Lease_Obligat4
Debt and Capital Lease Obligations (VM Notes, Subsequent Event) (Details) (USD $) | 0 Months Ended | |
In Millions, unless otherwise specified | Mar. 30, 2015 | Apr. 30, 2015 |
Long-term Debt [Member] | VM Credit Facility B [Member] | ||
Debt Instrument [Line Items] | ||
Principal amount of debt | $2,755 | |
Virgin Media Secured Finance [Member] | Subsequent Event [Member] | Long-term Debt [Member] | Additional 2026 VM Senior Secured Notes [Member] | ||
Debt Instrument [Line Items] | ||
Principal amount of debt | 500 | |
Interest rate | 5.25% | |
Issued at par percentage | 101.00% | |
Long-term Debt [Member] | VM Credit Facility B [Member] | ||
Debt Instrument [Line Items] | ||
Extinguishment of debt | 400 | |
Long-term Debt [Member] | Subsequent Event [Member] | VM Credit Facility B [Member] | ||
Debt Instrument [Line Items] | ||
Extinguishment of debt | $500 |
Debt_and_Capital_Lease_Obligat5
Debt and Capital Lease Obligations (VM Credit Facility) (Details) | 3 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | |||||||||
Mar. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2015 | |
VM Credit Facility [Member] | VM Credit Facility [Member] | VM Credit Facility B [Member] | VM Credit Facility B [Member] | VM Credit Facility D [Member] | VM Credit Facility D [Member] | VM Credit Facility D [Member] | VM Credit Facility E [Member] | VM Credit Facility E [Member] | VM Credit Facility E [Member] | VM Revolving Credit Facility [Member] | VM Revolving Credit Facility [Member] | VM Revolving Credit Facility [Member] | VM Credit Facility B, D and E [Member] | |
USD ($) | USD ($) | London Interbank Offered Rate (LIBOR) [Member] | USD ($) | 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 | $2,355,000,000 | £ 100,000,000 | £ 849,400,000 | £ 660,000,000 | ||||||||||
Unused borrowing capacity | 979,700,000 | 0 | 0 | 0 | 979,700,000 | |||||||||
Outstanding principal amount | $3,752,000,000 | $2,346,000,000 | $148,100,000 | $1,257,900,000 | $0 | |||||||||
Basis spread on variable rate | 2.75% | 3.25% | 3.50% | 3.25% | ||||||||||
Fee on unused portion of credit facility | 1.30% | |||||||||||||
LIBOR interest rate floor | 0.75% |
Debt_and_Capital_Lease_Obligat6
Debt and Capital Lease Obligations (Ziggo Credit Facilities) (Details) | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 |
Ziggo USD Facility [Member] | Ziggo USD Facility [Member] | Ziggo Euro Facility [Member] | Ziggo Euro Facility [Member] | Ziggo Euro Facility [Member] | Senior Secured Proceeds Loan [Member] | Senior Secured Proceeds Loan [Member] | Euro Senior Proceeds Loan [Member] | Euro Senior Proceeds Loan [Member] | Dollar Senior Proceeds Loan [Member] | New Ziggo Credit Facility [Member] | New Ziggo Credit Facility [Member] | New Ziggo Credit Facility [Member] | Ziggo Revolving Facilities [Member] | Ziggo Revolving Facilities [Member] | Elimination of the Proceeds Loans in consolidation [Member] | Ziggo Credit Facility [Member] | Ziggo Revolving Facility One [Member] | Ziggo Revolving Facility One [Member] | Ziggo Revolving Facility One [Member] | Ziggo Revolving Facility Two [Member] | Ziggo Revolving Facility Two [Member] | Ziggo Revolving Facility Two [Member] | |
USD ($) | London Interbank Offered Rate (LIBOR) [Member] | USD ($) | EUR (€) | EURIBOR [Member] | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | EURIBOR [Member] | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | EUR (€) | EURIBOR [Member] | USD ($) | EUR (€) | EURIBOR [Member] | |
Debt Instrument [Line Items] | |||||||||||||||||||||||
Facility amount | $2,350,000,000 | € 2,000,000,000 | € 800,000,000 | € 400,000,000 | $400,000,000 | € 689,200,000 | € 650,000,000 | $643,700,000 | € 600,000,000 | $53,600,000 | € 50,000,000 | ||||||||||||
Unused borrowing capacity | 0 | 0 | 0 | 0 | 0 | 0 | 697,300,000 | 0 | 697,300,000 | ||||||||||||||
Carrying value | $2,316,400,000 | $2,124,600,000 | $858,200,000 | $429,100,000 | $400,000,000 | $739,400,000 | $0 | ($1,687,300,000) | $5,180,400,000 | ||||||||||||||
Basis spread on variable rate | 2.75% | 3.00% | 3.75% | 2.75% | 2.00% | ||||||||||||||||||
Interest rate | 3.75% | 3.75% | 4.63% | 4.63% | 5.88% | ||||||||||||||||||
Floor rate | 0.75% | 0.75% | |||||||||||||||||||||
Fee on unused portion of credit facility | 1.10% | 1.10% | 0.80% | 0.80% |
Debt_and_Capital_Lease_Obligat7
Debt and Capital Lease Obligations (Unitymedia Notes) (Details) | 3 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | 0 Months Ended | 3 Months Ended | ||||||||||||||||||||||||||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 30, 2015 | Mar. 31, 2015 | Mar. 30, 2015 | Mar. 11, 2015 | Mar. 11, 2015 | Mar. 11, 2015 | Mar. 11, 2015 | Mar. 11, 2015 | Mar. 11, 2015 | Mar. 11, 2015 | Mar. 11, 2015 | Mar. 11, 2015 | Mar. 16, 2015 | Mar. 16, 2015 | Mar. 11, 2015 | Mar. 16, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 11, 2015 | Mar. 11, 2015 | Mar. 16, 2015 | Mar. 16, 2015 |
2021 | VM Senior Secured Notes Redeemed [Member] | VM Senior Secured Notes Redeemed [Member] | VM Senior Secured Notes Redeemed [Member] | UM Senior Secured Notes Redeemed [Member] | UM Senior Secured Notes Redeemed [Member] | September 2012 UM Senior Secured Notes [Member] | September 2012 UM Senior Secured Notes [Member] | December 2012 UM Euro Senior Secured Notes [Member] | December 2012 UM Euro Senior Secured Notes [Member] | January 2013 UM Senior Secured Notes [Member] | January 2013 UM Senior Secured Notes [Member] | April 2013 UM Senior Secured Notes [Member] | April 2013 UM Senior Secured Notes [Member] | UM Senior Exchange Notes [Member] | UM Senior Exchange Notes [Member] | UM Senior Exchange Notes [Member] | UM Senior Exchange Notes [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | UM Senior Secured Note Issuers [Member] | UM Senior Secured Note Issuers [Member] | Unitymedia [Member] | Unitymedia [Member] | |
Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | 2015 UM Notes [Member] | 2015 UM Notes [Member] | 2015 UM Senior Secured Notes [Member] | 2015 UM Senior Secured Notes [Member] | 2015 UM Senior Secured Notes [Member] | 2015 UM Senior Secured Notes [Member] | 2015 UM Senior Notes [Member] | 2015 UM Senior Notes [Member] | 2015 UM Senior Notes [Member] | 2015 UM Senior Notes [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | |||
USD ($) | USD ($) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | 2021 | 2022 | 2023 | 2024 and thereafter | 2021 | 2022 | 2023 | 2024 and thereafter | 2015 UM Senior Secured Notes [Member] | 2015 UM Senior Secured Notes [Member] | 2015 UM Senior Notes [Member] | 2015 UM Senior Notes [Member] | ||||||
USD ($) | EUR (€) | USD ($) | EUR (€) | |||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Principal amount of debt | $697.40 | € 650 | $536.40 | € 500 | $536.40 | € 500 | $375.50 | € 350 | $536.40 | € 500 | $751 | € 700 | ||||||||||||||||||||
Interest rate | 5.50% | 5.50% | 5.75% | 5.75% | 5.13% | 5.13% | 5.63% | 5.63% | 9.50% | 3.50% | 3.50% | 3.75% | 3.75% | |||||||||||||||||||
Percentage of principal amount redeemed | 10.00% | 10.00% | ||||||||||||||||||||||||||||||
Redemption price | 102.44% | 103.00% | 103.00% | 103.00% | 101.75% | 100.88% | 100.44% | 100.00% | 101.88% | 100.94% | 100.47% | 100.00% | ||||||||||||||||||||
Percentage of principal amount limitation | 10.00% | |||||||||||||||||||||||||||||||
Extinguishment of debt | 663 | 618 | ||||||||||||||||||||||||||||||
Gain (loss) on debt modification and extinguishment | -30.1 | 8.1 | -91.2 | |||||||||||||||||||||||||||||
Payments for debt redemption premium | 10.7 | 6.4 | 89.8 | |||||||||||||||||||||||||||||
Write-off of unamortized debt discount (premium) | 1.5 | 1.4 | ||||||||||||||||||||||||||||||
Write-off of deferred financing costs | 17.9 | 1.7 | ||||||||||||||||||||||||||||||
Additional basis points used to determine redemption premium | 0.50% | 0.50% | 0.50% | |||||||||||||||||||||||||||||
Portion of debt threshold default In excess of which trigger event of default for aggregate debt | $80.50 | € 75 | ||||||||||||||||||||||||||||||
Redemption price, percentage in event that certain assets sold or specific control changed | 101.00% | 101.00% |
Debt_and_Capital_Lease_Obligat8
Debt and Capital Lease Obligations (UPC Broadband Holding Bank Facility) (Details) | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 |
UPC Broadband Holding Bank Facility [Member] | UPC Broadband Holding Bank Facility [Member] | UPC Broadband Holding Bank Facility Y Debt [Member] | UPC Broadband Holding Bank Facility Y Debt [Member] | UPC Broadband Holding Bank Facility Y Debt [Member] | UPC Broadband Holding Bank Facility Y Debt [Member] | UPC Broadband Holding Bank Facility Z Debt [Member] | UPC Broadband Holding Bank Facility AC Debt [Member] | UPC Broadband Holding Bank Facility AD Debt [Member] | UPC Broadband Holding Bank Facility AH Debt [Member] | UPC Broadband Holding Bank Facility AI Debt [Member] | UPC Broadband Holding Bank Facility AI Debt [Member] | Elimination of Facilities Y, Z, AC and AD in Consolidation [Member] | UPC Broadband Holding Bank Facility V Debt [Member] | UPC Broadband Holding Bank Facility V Debt [Member] | UPCB Finance II Senior Secured Notes [Member] | UPCB Finance II Senior Secured Notes [Member] | UPCB Finance II Senior Secured Notes [Member] | UPC Broadband Holding Bank Facility AG [Member] | UPC Broadband Holding Bank Facility AG [Member] | London Interbank Offered Rate (LIBOR) [Member] | EURIBOR [Member] | |
USD ($) | EUR (€) | USD ($) | EUR (€) | Line of Credit [Member] | Line of Credit [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | USD ($) | Line of Credit [Member] | Line of Credit [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Line of Credit [Member] | Line of Credit [Member] | UPC Broadband Holding Bank Facility AH Debt [Member] | UPC Broadband Holding Bank Facility AI Debt [Member] | ||
USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | |||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Interest rate | 6.38% | 6.38% | 6.63% | 7.25% | 6.88% | 7.63% | 7.63% | 6.38% | 6.38% | 6.38% | ||||||||||||
Basis spread on variable rate | 2.50% | 3.25% | ||||||||||||||||||||
Facility amount | € 190,000,000 | $1,000,000,000 | $750,000,000 | $750,000,000 | $1,305,000,000 | € 1,046,200,000 | ||||||||||||||||
Principal amount of debt | 804,600,000 | 750,000,000 | ||||||||||||||||||||
Unused borrowing capacity | 907,800,000 | 0 | 0 | 0 | 0 | 0 | 907,800,000 | 0 | ||||||||||||||
Carrying value | 1,516,700,000 | 203,800,000 | 1,000,000,000 | 750,000,000 | 750,000,000 | 1,302,100,000 | 214,600,000 | -2,703,800,000 | ||||||||||||||
Unused borrowing capacity considering limitations | 826,000,000 | 769,900,000 | ||||||||||||||||||||
Fee on unused portion of credit facility | 1.30% | 1.30% | ||||||||||||||||||||
LIBOR interest rate floor | 0.75% | |||||||||||||||||||||
Extinguishment of debt | 600,800,000 | 560,000,000 | 536,400,000 | 500,000,000 | 933,600,000 | 870,200,000 | ||||||||||||||||
Gain (loss) on debt modification and extinguishment | -74,700,000 | |||||||||||||||||||||
Payments for debt redemption premium | 53,500,000 | |||||||||||||||||||||
Write-off of deferred financing costs | 16,500,000 | |||||||||||||||||||||
Write-off of unamortized debt discount (premium) | $4,700,000 |
Debt_and_Capital_Lease_Obligat9
Debt and Capital Lease Obligations (UPC Holding Senior Notes) (Details) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 |
In Millions, unless otherwise specified | USD ($) | USD ($) | UPC Holding Senior Notes [Member] | UPC Holding Senior Notes [Member] | UPC Holding Senior Notes 6.375 Debt [Member] | UPC Holding Senior Notes 6.375 Debt [Member] | UPC Holding 6.75% Euro Senior Notes [Member] | UPC Holding 6.75% Euro Senior Notes [Member] | UPC Holding 6.75% CHF Senior Notes [Member] | UPC Holding 6.75% CHF Senior Notes [Member] | Long-term Debt [Member] | Long-term Debt [Member] |
USD ($) | USD ($) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | CHF | UPC Holding 8.375 % Senior Notes [Member] | UPC Holding 8.375 % Senior Notes [Member] | |||
USD ($) | EUR (€) | |||||||||||
Debt Instrument [Line Items] | ||||||||||||
Outstanding principal amount | $42,669.90 | $1,486.20 | $643.70 | € 600 | $482.80 | € 450 | $359.70 | 350 | ||||
Estimated fair value | 44,378.70 | 46,151.10 | 1,619.80 | 2,603.60 | 693.6 | 528.9 | 397.3 | |||||
Carrying value | 42,675.60 | 44,611.40 | 1,481.50 | 2,391.60 | 639 | 482.8 | 359.7 | |||||
Extinguishment of debt | 686.6 | 640 | ||||||||||
Interest rate | 8.38% | 8.38% | ||||||||||
Gain (loss) on debt modification and extinguishment | -69.3 | |||||||||||
Payments for debt redemption premium | 59.2 | |||||||||||
Write-off of deferred financing costs | $10.10 |
Recovered_Sheet1
Debt and Capital Lease Obligations (UPCB SPE Notes) (Details) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 |
In Millions, unless otherwise specified | USD ($) | USD ($) | UPCB SPE Notes [Member] | UPCB Finance II Senior Secured Notes [Member] | UPCB Finance II Senior Secured Notes [Member] | UPCB Finance III Senior Secured Notes [Member] | UPCB Finance V Senior Secured Notes [Member] | UPCB Finance VI Senior Secured Notes [Member] |
USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | |||
Debt Instrument [Line Items] | ||||||||
Interest rate | 6.38% | 6.38% | 6.63% | 7.25% | 6.88% | |||
Outstanding principal amount | $42,669.90 | $2,703.80 | $203.80 | € 190 | $1,000 | $750 | $750 | |
Estimated fair value | 44,378.70 | 46,151.10 | 2,872.20 | 212.5 | 1,042.50 | 810 | 807.2 | |
Carrying value | $42,675.60 | $44,611.40 | $2,703.80 | $203.80 | $1,000 | $750 | $750 |
Recovered_Sheet2
Debt and Capital Lease Obligations (Maturities of Debt) (Schedule and Footnotes) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Debt Instrument [Line Items] | ||
2015 (remainder of year) | $984.30 | |
2016 | 483 | |
2017 | 887.5 | |
2018 | 244 | |
2019 | 18.1 | |
2020 | 4,184.10 | |
Thereafter | 35,868.90 | |
Total debt maturities | 42,669.90 | |
Unamortized premium (discount) | 5.7 | |
Total debt | 42,675.60 | 44,611.40 |
Current portion (d) | 1,112.80 | |
Noncurrent portion | 41,562.80 | |
Virgin Media [Member] | ||
Debt Instrument [Line Items] | ||
2015 (remainder of year) | 268.1 | |
2016 | 11.9 | |
2017 | 0 | |
2018 | 0 | |
2019 | 0 | |
2020 | 2,355 | |
Thereafter | 11,496.20 | |
Total debt maturities | 14,131.20 | |
Unamortized premium (discount) | 19.9 | |
Total debt | 14,151.10 | |
Current portion (d) | 281.9 | |
Noncurrent portion | 13,869.20 | |
Ziggo Group Holding [Member] | ||
Debt Instrument [Line Items] | ||
2015 (remainder of year) | 0 | |
2016 | 3.6 | |
2017 | 0 | |
2018 | 0 | |
2019 | 0 | |
2020 | 76.9 | |
Thereafter | 7,719.60 | |
Total debt maturities | 7,800.10 | |
Unamortized premium (discount) | 24.4 | |
Total debt | 7,824.50 | |
Current portion (d) | 3.6 | |
Noncurrent portion | 7,820.90 | |
UPC Holding [Member] | ||
Debt Instrument [Line Items] | ||
2015 (remainder of year) | 572.1 | |
2016 | 83 | |
2017 | 0 | |
2018 | 0 | |
2019 | 0 | |
2020 | 1,203.80 | |
Thereafter | 4,291.30 | |
Total debt maturities | 6,150.20 | |
Unamortized premium (discount) | -7.6 | |
Total debt | 6,142.60 | |
Current portion (d) | 655.2 | |
Noncurrent portion | 5,487.40 | |
Unitymedia [Member] | ||
Debt Instrument [Line Items] | ||
2015 (remainder of year) | 110 | |
2016 | 14.4 | |
2017 | 0 | |
2018 | 0 | |
2019 | 0 | |
2020 | 0 | |
Thereafter | 7,250.80 | |
Total debt maturities | 7,375.20 | |
Unamortized premium (discount) | 0 | |
Total debt | 7,375.20 | |
Current portion (d) | 124.4 | |
Noncurrent portion | 7,250.80 | |
Telenet [Member] | ||
Debt Instrument [Line Items] | ||
2015 (remainder of year) | 7.9 | |
2016 | 7.9 | |
2017 | 7.9 | |
2018 | 7.9 | |
2019 | 18.1 | |
2020 | 548.4 | |
Thereafter | 3,036 | |
Total debt maturities | 3,634.10 | |
Unamortized premium (discount) | -2.9 | |
Total debt | 3,631.20 | |
Current portion (d) | 7.9 | |
Noncurrent portion | 3,623.30 | |
Other Subsidiaries [Member] | ||
Debt Instrument [Line Items] | ||
2015 (remainder of year) | 26.2 | |
2016 | 362.2 | |
2017 | 879.6 | |
2018 | 236.1 | |
2019 | 0 | |
2020 | 0 | |
Thereafter | 2,075 | |
Total debt maturities | 3,579.10 | |
Unamortized premium (discount) | -28.1 | |
Total debt | 3,551 | |
Current portion (d) | 39.8 | |
Noncurrent portion | $3,511.20 |
Recovered_Sheet3
Debt and Capital Lease Obligations (Capital Lease Obligations) (Schedule) (Details) (USD $) | Mar. 31, 2015 |
In Millions, unless otherwise specified | |
Debt Instrument [Line Items] | |
2015 (remainder of year) | $215 |
2016 | 229.2 |
2017 | 184.7 |
2018 | 152.9 |
2019 | 135.3 |
2020 | 130.9 |
Thereafter | 1,220.40 |
Total principal and interest payments | 2,268.40 |
Amounts representing interest | -860.7 |
Present value of net minimum lease payments | 1,407.70 |
Current portion | 180 |
Noncurrent portion | 1,227.70 |
Unitymedia [Member] | |
Debt Instrument [Line Items] | |
2015 (remainder of year) | 59 |
2016 | 78.7 |
2017 | 78.7 |
2018 | 78.7 |
2019 | 78.7 |
2020 | 78.7 |
Thereafter | 777.5 |
Total principal and interest payments | 1,230 |
Amounts representing interest | -517.5 |
Present value of net minimum lease payments | 712.5 |
Current portion | 24.6 |
Noncurrent portion | 687.9 |
Telenet [Member] | |
Debt Instrument [Line Items] | |
2015 (remainder of year) | 48.1 |
2016 | 57.9 |
2017 | 56.2 |
2018 | 54.2 |
2019 | 44.9 |
2020 | 42.4 |
Thereafter | 191.9 |
Total principal and interest payments | 495.6 |
Amounts representing interest | -127.7 |
Present value of net minimum lease payments | 367.9 |
Current portion | 36.9 |
Noncurrent portion | 331 |
Virgin Media [Member] | |
Debt Instrument [Line Items] | |
2015 (remainder of year) | 88.2 |
2016 | 71.2 |
2017 | 33.4 |
2018 | 10.2 |
2019 | 5.2 |
2020 | 4.2 |
Thereafter | 207.5 |
Total principal and interest payments | 419.9 |
Amounts representing interest | -188.6 |
Present value of net minimum lease payments | 231.3 |
Current portion | 99.3 |
Noncurrent portion | 132 |
Other Subsidiaries [Member] | |
Debt Instrument [Line Items] | |
2015 (remainder of year) | 19.7 |
2016 | 21.4 |
2017 | 16.4 |
2018 | 9.8 |
2019 | 6.5 |
2020 | 5.6 |
Thereafter | 43.5 |
Total principal and interest payments | 122.9 |
Amounts representing interest | -26.9 |
Present value of net minimum lease payments | 96 |
Current portion | 19.2 |
Noncurrent portion | $76.80 |
Recovered_Sheet4
Debt and Capital Lease Obligations (Non-cash Refinancing Transactions) (Narrative) (Details) (Refinancing Transactions [Member], USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Refinancing Transactions [Member] | ||
Debt Instrument [Line Items] | ||
Aggregate debt which resulted in non-cash borrowings and repayments | $1,484.30 | $1,375.50 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 3 Months Ended | 1 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Apr. 30, 2015 |
Income Taxes [Line Items] | |||
Unrecognized tax benefits | 484.3 | ||
Unrecognized tax benefits that would have a favorable impact | 266.1 | ||
Reductions to unrecognized tax benefits, upper bound | 250 | ||
Domestic Tax Authority [Member] | |||
Income Taxes [Line Items] | |||
Income tax rate | 20.25% | 21.50% | |
Scenario, Forecast [Member] | Domestic Tax Authority [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 | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Accrued Income Taxes [Abstract] | ||
Computed bexpectedb tax benefit | $121.40 | $115.50 |
Change in valuation allowances: | ||
Decrease | -226 | -55.2 |
Increase | 1 | 4.9 |
International rate differences: | ||
Increase | 91.3 | 57.4 |
Decrease | -12.4 | -6.2 |
Non-deductible or non-taxable foreign currency exchange results: | ||
Increase | 69.5 | 2.1 |
Decrease | -8.7 | -7.4 |
Tax effect of intercompany financing | 38.2 | 40.5 |
Non-deductible or non-taxable interest and other expenses: | ||
Decrease | -33.7 | -31 |
Increase | 11.2 | 15 |
Basis and other differences in the treatment of items associated with investments in subsidiaries and affiliates: | ||
Increase | 14.5 | 0.5 |
Decrease | -1 | -49.6 |
Recognition of previously unrecognized tax benefits | 8.9 | 28.8 |
Other, net | 3.7 | 1.7 |
Total income tax benefit | $77.90 | $117 |
Equity_Details
Equity (Details) (LGI Convertible Notes Debt [Member], USD $) | 3 Months Ended |
In Millions, except Share data, unless otherwise specified | Mar. 31, 2015 |
Schedule of Capitalization, Equity [Line Items] | |
Total cost for stock purchased pursuant to repurchase programs | $478.10 |
Remaining amount authorized under the stock repurchase program | $3,458.10 |
Class C Ordinary Shares [Member] | |
Schedule of Capitalization, Equity [Line Items] | |
Shares purchased pursuant to repurchase programs (in shares) | 9,781,810 |
Average price paid per share pursuant to repurchase programs (in dollars per share) | $48.87 |
Sharebased_Compensation_Summar
Share-based Compensation (Summary of Stock-Based Compensation) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | $71.40 | $55.10 |
Operating expense | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | 0.7 | 1.3 |
SG&A expense | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | 70.7 | 53.8 |
Other Stock Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | 0.7 | 1.4 |
Parent Company [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | 67.5 | 50.8 |
Parent Company [Member] | Performance Shares [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | 42.1 | 20.6 |
Parent Company [Member] | Other Share-Based Incentive Awards [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | 25.4 | 30.2 |
Telenet [Member] | Stock Compensation Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | $3.20 | $2.90 |
Restructuring_Liability_Detail
Restructuring Liability (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 |
Restructuring Reserve [Roll Forward] | |
Restructuring liability as of January 1, 2015 | $156.10 |
Restructuring charges | 15.6 |
Cash paid | -20.6 |
Foreign currency translation adjustments and other | -9.1 |
Restructuring liability as of March 31, 2015 | 142 |
Current portion | 48.7 |
Noncurrent portion | 93.3 |
Total | 142 |
Employee severance and termination [Member] | |
Restructuring Reserve [Roll Forward] | |
Restructuring liability as of January 1, 2015 | 27.6 |
Restructuring charges | 13.4 |
Cash paid | -12.1 |
Foreign currency translation adjustments and other | -1.1 |
Restructuring liability as of March 31, 2015 | 27.8 |
Current portion | 27.7 |
Noncurrent portion | 0.1 |
Total | 27.8 |
Office closures [Member] | |
Restructuring Reserve [Roll Forward] | |
Restructuring liability as of January 1, 2015 | 12.5 |
Restructuring charges | -0.8 |
Cash paid | -1.1 |
Foreign currency translation adjustments and other | 1.5 |
Restructuring liability as of March 31, 2015 | 12.1 |
Current portion | 3.4 |
Noncurrent portion | 8.7 |
Total | 12.1 |
Contract termination and other [Member] | |
Restructuring Reserve [Roll Forward] | |
Restructuring liability as of January 1, 2015 | 116 |
Restructuring charges | 3 |
Cash paid | -7.4 |
Foreign currency translation adjustments and other | -9.5 |
Restructuring liability as of March 31, 2015 | 102.1 |
Current portion | 17.6 |
Noncurrent portion | 84.5 |
Total | 102.1 |
Switzerland / Austria [Member] | Employee severance and termination [Member] | |
Restructuring Reserve [Roll Forward] | |
Restructuring charges | 8.1 |
Puerto Rico [Member] | Employee severance and termination [Member] | |
Restructuring Reserve [Roll Forward] | |
Restructuring charges | 2.4 |
Netherlands [Member] | Employee severance and termination [Member] | |
Restructuring Reserve [Roll Forward] | |
Restructuring charges | $1.60 |
Earnings_or_Loss_per_Ordinary_2
Earnings or Loss per Ordinary Share (Narrative) (Details) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
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 | 36.1 | 37.9 |
PSUs and PGUs [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Aggregate number of shares excluded from computation of EPS | 4.7 | 3.3 |
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 |
Earnings_or_Loss_per_Ordinary_3
Earnings or Loss per Ordinary Share (Net Earnings (Loss) Attributable to Liberty Global Shareholders) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Amounts attributable to Liberty Global shareholders: | ||
Earnings from discontinued operation | $0 | $340.70 |
Net loss attributable to Liberty Global shareholders | -537.5 | -78.8 |
Parent Company [Member] | ||
Amounts attributable to Liberty Global shareholders: | ||
Loss from continuing operations | -537.5 | -419.5 |
Earnings from discontinued operation | 0 | 340.7 |
Net loss attributable to Liberty Global shareholders | ($537.50) | ($78.80) |
Commitments_and_Contingencies_1
Commitments and Contingencies (Unrecorded Purchase Obligation) (Details) (USD $) | Mar. 31, 2015 |
In Millions, unless otherwise specified | |
Unrecorded Unconditional Purchase Obligation [Line Items] | |
Remainder of 2015 | $2,093.20 |
2016 | 1,457.60 |
2017 | 1,153.60 |
2018 | 842.1 |
2019 | 439.3 |
2020 | 128.8 |
Thereafter | 1,145.70 |
Total | 7,260.30 |
Programming Commitments [Member] | |
Unrecorded Unconditional Purchase Obligation [Line Items] | |
Remainder of 2015 | 626.2 |
2016 | 772.8 |
2017 | 613.8 |
2018 | 530 |
2019 | 231.6 |
2020 | 1.6 |
Thereafter | 0.3 |
Total | 2,776.30 |
Network and Connectivity Commitments [Member] | |
Unrecorded Unconditional Purchase Obligation [Line Items] | |
Remainder of 2015 | 265.3 |
2016 | 249.1 |
2017 | 228 |
2018 | 120.2 |
2019 | 84.9 |
2020 | 60.5 |
Thereafter | 873.2 |
Total | 1,881.20 |
Purchase Commitments [Member] | |
Unrecorded Unconditional Purchase Obligation [Line Items] | |
Remainder of 2015 | 800.8 |
2016 | 116.8 |
2017 | 56.8 |
2018 | 11.3 |
2019 | 3.9 |
2020 | 0 |
Thereafter | 0 |
Total | 989.6 |
Operating Leases [Member] | |
Unrecorded Unconditional Purchase Obligation [Line Items] | |
Remainder of 2015 | 128.7 |
2016 | 138.9 |
2017 | 116.1 |
2018 | 97.7 |
2019 | 76.4 |
2020 | 45.2 |
Thereafter | 245.6 |
Total | 848.6 |
Other Commitments [Member] | |
Unrecorded Unconditional Purchase Obligation [Line Items] | |
Remainder of 2015 | 272.2 |
2016 | 180 |
2017 | 138.9 |
2018 | 82.9 |
2019 | 42.5 |
2020 | 21.5 |
Thereafter | 26.6 |
Total | $764.60 |
Commitments_and_Contingencies_2
Commitments and Contingencies (Narrative) (Details) | Mar. 31, 2015 | Mar. 31, 2015 | Nov. 26, 2007 | Dec. 31, 2012 | Dec. 31, 2012 | Jan. 17, 2013 | Jan. 17, 2013 | Oct. 04, 2013 | Apr. 02, 2013 | Jan. 31, 2012 | Apr. 29, 2015 | Apr. 29, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2014 | Feb. 28, 2015 | Mar. 31, 2015 | Mar. 31, 2014 |
In Millions, unless otherwise specified | Interkabel Acquisition [Member] | Interkabel Acquisition [Member] | Interkabel Acquisition [Member] | Deutsche Telekom Litigation [Member] | Deutsche Telekom Litigation [Member] | Vivendi Litigation [Member] | Vivendi Litigation [Member] | Belgium Regulatory Developments [Member] | Belgium Regulatory Developments [Member] | FCO Regulatory Issues [Member] | FCO Regulatory Issues [Member] | FCO Regulatory Issues [Member] | Financial Transactions Tax [Member] | Financial Transactions Tax [Member] | Financial Transactions Tax [Member] | Virgin Media VAT Matters [Member] | Virgin Media VAT Matters [Member] | Virgin Media VAT Matters 2 [Member] | Virgin Media VAT Matters 2 [Member] | Other Regulatory Issues [Member] | Broadband Communications and DHT Operations [Member] | Broadband Communications and DHT Operations [Member] |
USD ($) | EUR (€) | association | USD ($) | EUR (€) | USD ($) | EUR (€) | competitor | Subsequent Event [Member] | Subsequent Event [Member] | country | Minimum [Member] | Maximum [Member] | USD ($) | GBP (£) | USD ($) | GBP (£) | USD ($) | USD ($) | USD ($) | |||
USD ($) | EUR (€) | |||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||||
Programming costs | $557.50 | $517 | ||||||||||||||||||||
Number of associations of municipalities in Belgium | 4 | |||||||||||||||||||||
Loss contingency damages in excess value | 21.5 | 20 | ||||||||||||||||||||
Damages sought | 82 | 76 | ||||||||||||||||||||
Reduction of annual lease fees | 66.67% | 66.67% | ||||||||||||||||||||
Subsidiary interest in recovery | 10.00% | 10.00% | ||||||||||||||||||||
Damages awarded | 1,013 | 944 | ||||||||||||||||||||
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 | |||||||||||||||||||||
Loss in period | 196.9 | 183.5 | ||||||||||||||||||||
Number of Participating Countries in Financial Transaction Tax | 11 | |||||||||||||||||||||
Financial Transactions Tax | 0.01% | 0.10% | ||||||||||||||||||||
Minimum range of possible loss | 62.6 | 42.2 | 3.5 | |||||||||||||||||||
Decrease in revenues | 16 | 10.8 | ||||||||||||||||||||
Maximum possible loss | 96 | 65 | ||||||||||||||||||||
Loss contingency accrual | $0 |
Segment_Reporting_Narrative_De
Segment Reporting (Narrative) (Details) | 3 Months Ended |
Mar. 31, 2015 | |
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 | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Segment Reporting Information [Line Items] | ||
Total revenue | $4,516.90 | $4,533.70 |
Operating cash flow | 2,097.30 | 2,127.50 |
European Operations Division U.K / Ireland [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 1,711.40 | 1,847.50 |
Operating cash flow | 763.3 | 791.6 |
European Operations Division Netherlands [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 707.4 | 318.1 |
Operating cash flow | 367.9 | 183.3 |
European Operations Division Germany [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 597.9 | 695.9 |
Operating cash flow | 364 | 429 |
European Operations Division Belgium [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 502.7 | 574.2 |
Operating cash flow | 247 | 302.1 |
European Operations Division Switzerland / Austria [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 439.3 | 463.8 |
Operating cash flow | 248.8 | 264.4 |
European Operations Division Total Western Europe [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 3,958.70 | 3,899.50 |
Operating cash flow | 1,991 | 1,970.40 |
European Operations Division Central and Eastern Europe [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 268.2 | 323.9 |
Operating cash flow | 118.1 | 158.2 |
European Operations Division Central and Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | -2.8 | -0.8 |
Operating cash flow | -67.9 | -70.9 |
Total European Operations Division [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 4,224.10 | 4,222.60 |
Operating cash flow | 2,041.20 | 2,057.70 |
Chile [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 208.8 | 225.3 |
Operating cash flow | 76 | 82.7 |
Corporate and other [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 91.8 | 93.1 |
Operating cash flow | -19.9 | -16.9 |
Intersegment eliminations [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | -7.8 | -7.3 |
Operating cash flow | $0 | $4 |
Segment_Reporting_Reconciliati
Segment Reporting (Reconciliation of Operating Cash Flow to Earnings from Continuing Operations) (Schedule) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Segment Reporting, Measurement Disclosures [Abstract] | ||
Total segment operating cash flow from continuing operations | $2,097.30 | $2,127.50 |
Share-based compensation expense | -71.4 | -55.1 |
Depreciation and amortization | -1,451.40 | -1,377.10 |
Impairment, restructuring and other operating items, net | -17 | -113.6 |
Operating income | 557.5 | 581.7 |
Interest expense | -615.9 | -653.5 |
Realized and unrealized gains (losses) on derivative instruments, net | 618.5 | -376.6 |
Foreign currency transaction losses, net | -1,035.60 | -20.8 |
Realized and unrealized gains (losses) due to changes in fair values of certain investments, net | 151.4 | -60.2 |
Losses on debt modification and extinguishment, net | -274.5 | -20.9 |
Other income (expense), net | -1 | 13.3 |
Loss from continuing operations before income taxes | ($599.60) | ($537) |
Segment_Reporting_Capital_Expe
Segment Reporting (Capital Expenditures of Reportable Segments) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Segment Reporting Information [Line Items] | ||
Property and equipment additions | $924.90 | $910.20 |
Assets acquired under capital-related vendor financing arrangements | -295 | -170.5 |
Assets acquired under capital leases | -62 | -49 |
Changes in current liabilities related to capital expenditures | 93.3 | 44.3 |
Total capital expenditures | -661.2 | -735 |
European Operations Division U.K / Ireland [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment additions | 347.3 | 369.3 |
European Operations Division Netherlands [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment additions | 120.8 | 52.2 |
European Operations Division Germany [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment additions | 142.9 | 146 |
European Operations Division Belgium [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment additions | 63.2 | 91.8 |
European Operations Division Switzerland / Austria [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment additions | 56.6 | 73.8 |
European Operations Division Total Western Europe [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment additions | 730.8 | 733.1 |
European Operations Division Central and Eastern Europe [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment additions | 48.6 | 46.1 |
European Operations Division Central and Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment additions | 50.3 | 69.9 |
Total European Operations Division [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment additions | 829.7 | 849.1 |
Chile [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment additions | 40.4 | 45.3 |
Corporate and other [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment additions | $54.80 | $15.80 |
Segment_Reporting_Revenue_by_M
Segment Reporting (Revenue by Major Category) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Segment Reporting Information [Line Items] | ||
Total revenue | $4,516.90 | $4,533.70 |
Video [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 1,607.90 | 1,640.50 |
Broadband Internet [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 1,239.20 | 1,143.90 |
Telephony [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 799.7 | 826.4 |
Cable Subscription [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 3,646.80 | 3,610.80 |
Mobile [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 251.7 | 257.3 |
Total Subscription [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 3,898.50 | 3,868.10 |
Business to Business [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 373.9 | 367 |
Other Category [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 244.5 | 298.6 |
Mobile Interconnect [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 54.4 | 60.8 |
SOHO Cable Subscription [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | $66.60 | $52 |
Segment_Reporting_Geographic_S
Segment Reporting (Geographic Segments) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Segment Reporting Information [Line Items] | ||
Total revenue | $4,516.90 | $4,533.70 |
European Operations Division United Kingdom [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 1,612 | 1,727.90 |
European Operations Division Germany [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 597.9 | 695.9 |
European Operations Division Belgium [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 502.7 | 574.2 |
European Operations Division Switzerland [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 346.8 | 352.8 |
European Operations Division Netherlands [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 707.4 | 318.1 |
European Operations Division Poland [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 101 | 120.5 |
European Operations Division Ireland [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 99.4 | 119.6 |
European Operations Division Austria [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 92.5 | 111 |
European Operations Division Hungary [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 65 | 78.7 |
European Operations Division Czech Republic [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 44.4 | 58.8 |
European Operations Division Romania [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 38.9 | 43.5 |
European Operations Division Slovakia [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 15.2 | 19.2 |
European Operations Division Other Europe [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 0.9 | 2.4 |
Total European Operations Division [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 4,224.10 | 4,222.60 |
Chile | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 208.8 | 225.3 |
Puerto Rico [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 79 | 74.7 |
Other, including intersegment eliminations | ||
Segment Reporting Information [Line Items] | ||
Total revenue | $5 | $11.10 |
Subsequent_Events_Details
Subsequent Events (Details) | 3 Months Ended | 3 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | ||||||||||||||||||||||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Apr. 15, 2015 | Apr. 15, 2015 | Apr. 15, 2015 | Apr. 15, 2015 | Apr. 15, 2015 | Apr. 15, 2015 | Apr. 15, 2015 | Apr. 15, 2015 | Apr. 15, 2015 | Apr. 15, 2015 | Apr. 15, 2015 | Apr. 15, 2015 | Apr. 15, 2015 | Apr. 15, 2015 | Apr. 15, 2015 | Apr. 15, 2015 | Apr. 15, 2015 | Apr. 15, 2015 | Apr. 15, 2015 | Apr. 15, 2015 | Apr. 15, 2015 | Apr. 18, 2015 | Apr. 18, 2015 |
2021 | UPC Broadband Holding Bank Facility Y Debt [Member] | UPC Broadband Holding Bank Facility Y Debt [Member] | UPC Broadband Holding Bank Facility Y Debt [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] | 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] | |
Line of Credit [Member] | Line of Credit [Member] | UPC Broadband Holding Bank Facility Y Debt [Member] | UPC Broadband Holding Bank Facility Y Debt [Member] | UPC Broadband Holding Bank Facility AI Debt [Member] | UPC Broadband Holding Bank Facility AI Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | UPCB Finance IV [Member] | UPCB Finance IV [Member] | UPCB Finance IV [Member] | UPCB Finance IV [Member] | Telenet [Member] | Telenet [Member] | |||
USD ($) | EUR (€) | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | UPCB Finance IV Notes [Member] | UPCB Finance IV Notes [Member] | UPCB Finance IV Dollar Notes [Member] | UPCB Finance IV Dollar Notes [Member] | UPCB Finance IV Dollar Notes [Member] | UPCB Finance IV Dollar Notes [Member] | UPCB Finance IV Dollar Notes [Member] | UPCB Finance IV Euro Notes [Member] | UPCB Finance IV Euro Notes [Member] | UPCB Finance IV Euro Notes [Member] | UPCB Finance IV Euro Notes [Member] | UPCB Finance V Notes [Member] | UPCB Finance VI Notes [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Base Company NV [Member] | Base Company NV [Member] | ||||
USD ($) | EUR (€) | USD ($) | EUR (€) | 2020 | 2021 | 2022 | 2023 | 2024 and thereafter | 2021 | 2022 | 2023 | 2024 and thereafter | UPCB Finance IV Dollar Notes [Member] | UPCB Finance IV Euro Notes [Member] | UPCB Finance IV Euro Notes [Member] | USD ($) | EUR (€) | ||||||||||
USD ($) | USD ($) | EUR (€) | |||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Ownership percentage of special purpose financing entity by charitable trust | 100.00% | ||||||||||||||||||||||||||
Principal amount of debt | $800 | $643.70 | € 600 | ||||||||||||||||||||||||
Interest rate | 6.38% | 5.38% | 4.00% | 4.00% | |||||||||||||||||||||||
Extinguishment of debt | 600.8 | 560 | 203.8 | 190 | 214.6 | 200 | |||||||||||||||||||||
Percentage of principal amount redeemed | 10.00% | 10.00% | 10.00% | ||||||||||||||||||||||||
Redemption price, general rate for an early redemption event | 100.00% | ||||||||||||||||||||||||||
Redemption price | 102.44% | 103.00% | 102.69% | 101.79% | 100.90% | 100.00% | 100.00% | 102.00% | 101.00% | 100.50% | 100.00% | 103.00% | |||||||||||||||
Additional basis points used to determine redemption premium | 50.00% | ||||||||||||||||||||||||||
Redemption term | 12 months | ||||||||||||||||||||||||||
Redemption price, percentage in event that certain assets sold or specific control changed | 101.00% | ||||||||||||||||||||||||||
Expected consideration transfered | 1,420.90 | 1,324.40 | |||||||||||||||||||||||||
Expected liabilities incurred | 1,072.80 | 1,000 | |||||||||||||||||||||||||
Potential termination fee paid to seller | $107.30 | € 100 |