Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Jul. 29, 2015 | |
Entity Information [Line Items] | ||
Entity Registrant Name | Liberty Global plc | |
Entity Central Index Key | 1,570,585 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Liberty Global Group [Member] | Class A Ordinary Shares [Member] | ||
Entity Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 252,508,015 | |
Liberty Global Group [Member] | Class B Ordinary Shares [Member] | ||
Entity Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 10,472,517 | |
Liberty Global Group [Member] | Class C Ordinary Shares [Member] | ||
Entity Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 611,655,865 | |
LiLAC Group [Member] | Class A Ordinary Shares [Member] | ||
Entity Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 12,625,362 | |
LiLAC Group [Member] | Class B Ordinary Shares [Member] | ||
Entity Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 523,626 | |
LiLAC Group [Member] | Class C Ordinary Shares [Member] | ||
Entity Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 30,776,883 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Current assets: | ||
Cash and cash equivalents | $ 819.5 | $ 1,158.5 |
Trade receivables, net | 1,357.8 | 1,499.5 |
Deferred income taxes | 307.7 | 290.3 |
Prepaid expenses | 211.6 | 189.7 |
Derivative instruments (note 4) | 248.3 | 446.6 |
Other current assets | 306.8 | 335.9 |
Total current assets | 3,251.7 | 3,920.5 |
Investments (including $1,928.8 million and $1,662.7 million, respectively, measured at fair value) | 2,192.2 | 1,808.2 |
Property and equipment, net (note 6) | 22,761.1 | 23,840.6 |
Goodwill (note 6) | 28,159 | 29,001.6 |
Intangible assets subject to amortization, net (note 6) | 7,999.5 | 9,189.8 |
Other assets, net (note 4) | 5,630.2 | 5,081.2 |
Total assets | 69,993.7 | 72,841.9 |
Current liabilities: | ||
Accounts payable | 1,062.2 | 1,039 |
Deferred revenue and advance payments from subscribers and others | 1,449.8 | 1,452.2 |
Current portion of debt and capital lease obligations (note 7) | 1,613.9 | 1,550.9 |
Accrued interest | 705.1 | 690.6 |
Accrued capital expenditures | 406.9 | 412.4 |
Derivative instruments (note 4) | 385.2 | 1,043.7 |
Other accrued and current liabilities (note 11) | 2,410.6 | 3,001.5 |
Total current liabilities | 8,033.7 | 9,190.3 |
Long-term debt and capital lease obligations (note 7) | 44,440.1 | 44,608.1 |
Other long-term liabilities (notes 4 and 11) | 5,046.7 | 4,927.5 |
Total liabilities | $ 57,520.5 | $ 58,725.9 |
Commitments and contingencies (notes 3, 4, 7, 8, 13 and 15) | ||
Liberty Global shareholders: | ||
Additional paid-in capital | $ 16,103 | $ 17,070.8 |
Accumulated deficit | (5,009.8) | (4,007.6) |
Accumulated other comprehensive earnings, net of taxes | 1,885.1 | 1,646.6 |
Treasury shares, at cost | (0.8) | (4.2) |
Total Liberty Global shareholders | 12,986.2 | 14,714.5 |
Noncontrolling interests | (513) | (598.5) |
Total equity | 12,473.2 | 14,116 |
Total liabilities and equity | 69,993.7 | 72,841.9 |
Old Liberty Global Ordinary Shares - Class A, $0.01 nominal value. Issued and outstanding 252,505,774 and 251,167,686 shares, respectively | ||
Liberty Global shareholders: | ||
Common stock | 2.5 | 2.5 |
Old Liberty Global Ordinary Shares - Class B, $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 |
Old Liberty Global Ordinary Shares - Class C, $0.01 nominal value. Issued and outstanding 614,457,550 and 630,353,372 shares, respectively | ||
Liberty Global shareholders: | ||
Common stock | $ 6.1 | $ 6.3 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Investments, fair value | $ 1,928.8 | $ 1,662.7 |
Class A Ordinary Shares [Member] | ||
Common stock, nominal value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, issued (in shares) | 252,505,774 | 251,167,686 |
Common stock, outstanding (in shares) | 252,505,774 | 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) | 614,457,550 | 630,353,372 |
Common stock, outstanding (in shares) | 614,457,550 | 630,353,372 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Income Statement [Abstract] | ||||
Revenue (note 14) | $ 4,566.5 | $ 4,602.2 | $ 9,083.4 | $ 9,135.9 |
Operating costs and expenses: | ||||
Operating (other than depreciation and amortization) (including share-based compensation) (note 10) | 1,664.5 | 1,719.2 | 3,350.4 | 3,418 |
Selling, general and administrative (SG&A) (including share-based compensation) (note 10) | 773.6 | 792.5 | 1,578.7 | 1,555 |
Depreciation and amortization | 1,477.8 | 1,393.4 | 2,929.2 | 2,770.5 |
Impairment, restructuring and other operating items, net (note 11) | 25.7 | 27.6 | 42.7 | 141.2 |
Operating costs and expenses, Total | 3,941.6 | 3,932.7 | 7,901 | 7,884.7 |
Operating income | 624.9 | 669.5 | 1,182.4 | 1,251.2 |
Non-operating income (expense): | ||||
Interest expense | (600.8) | (641.8) | (1,216.7) | (1,295.3) |
Realized and unrealized losses on derivative instruments, net (note 4) | (679.7) | (328.6) | (61.2) | (705.2) |
Foreign currency transaction gains (losses), net | 340.4 | (36.4) | (695.2) | (57.2) |
Realized and unrealized gains due to changes in fair values of certain investments, net (note 5) | 110.8 | 157.4 | 262.2 | 97.2 |
Losses on debt modification and extinguishment, net (note 7) | (73.8) | (53) | (348.3) | (73.9) |
Other income (expense), net | (1.7) | (1.7) | (2.7) | 11.6 |
Non-operating income (expense), Total | (904.8) | (904.1) | (2,061.9) | (2,022.8) |
Loss from continuing operations before income taxes | (279.9) | (234.6) | (879.5) | (771.6) |
Income tax benefit (expense) (note 8) | (130) | 0.6 | (52.1) | 117.6 |
Loss from continuing operations | (409.9) | (234) | (931.6) | (654) |
Discontinued operation (note 1): | ||||
Earnings from discontinued operation, net of taxes | 0 | 0 | 0 | 0.8 |
Gain (adjustment to gain) on disposal of discontinued operation, net of taxes | 0 | (7.2) | 0 | 332.7 |
Income (loss) on discontinued operation, Total | 0 | (7.2) | 0 | 333.5 |
Net loss | (409.9) | (241.2) | (931.6) | (320.5) |
Net earnings attributable to noncontrolling interests | (54.8) | (8.7) | (70.6) | (8.2) |
Net loss attributable to Liberty Global shareholders | $ (464.7) | $ (249.9) | $ (1,002.2) | $ (328.7) |
Basic and diluted loss attributable to Liberty Global shareholders per share (note 12): | ||||
Continuing operations (in dollars per share) | $ (0.53) | $ (0.31) | $ (1.13) | $ (0.84) |
Discontinued operation (in dollars per share) | 0 | (0.01) | 0 | 0.42 |
Basic and diluted earnings (loss) attributable to Liberty Global shareholders per share (in dollars per share) | $ (0.53) | $ (0.32) | $ (1.13) | $ (0.42) |
Weighted average ordinary shares outstanding – basic and diluted (in shares) | 880,850,801 | 784,980,724 | 884,040,481 | 786,351,696 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Earnings (Loss) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Net loss | $ (409.9) | $ (241.2) | $ (931.6) | $ (320.5) |
Other comprehensive earnings (loss), net of taxes: | ||||
Foreign currency translation adjustments | 929.7 | 416.9 | 238.6 | 475 |
Reclassification adjustments included in net loss | 0.9 | 0.1 | 1 | 64.2 |
Other | 0.5 | 0 | (1) | 0 |
Other comprehensive earnings | 931.1 | 417 | 238.6 | 539.2 |
Comprehensive earnings (loss) | 521.2 | 175.8 | (693) | 218.7 |
Comprehensive earnings attributable to noncontrolling interests | (54.8) | (8.9) | (70.7) | (8.4) |
Comprehensive earnings (loss) attributable to Liberty Global shareholders | $ 466.4 | $ 166.9 | $ (763.7) | $ 210.3 |
Condensed Consolidated Stateme6
Condensed Consolidated Statement of Equity - 6 months ended Jun. 30, 2015 - USD ($) $ in Millions | 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]Old Liberty Global Ordinary Shares | Class B Ordinary Shares [Member]Old Liberty Global Ordinary Shares | Class C Ordinary Shares [Member]Old Liberty Global Ordinary Shares |
Beginning balance at Dec. 31, 2014 | $ 14,116 | $ 17,070.8 | $ (4,007.6) | $ 1,646.6 | $ (4.2) | $ 14,714.5 | $ (598.5) | $ 2.5 | $ 0.1 | $ 6.3 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Net loss | (931.6) | (1,002.2) | (1,002.2) | 70.6 | ||||||
Other comprehensive earnings, net of taxes | 238.6 | 238.5 | 238.5 | 0.1 | ||||||
Repurchase and cancellation of Old Liberty Global Ordinary Shares (note 9) | (935.8) | (935.7) | (935.8) | (0.1) | ||||||
Share-based compensation (note 10) | 104.3 | 104.3 | 104.3 | |||||||
Liberty Global call option contracts | (81.6) | (81.5) | (81.6) | (0.1) | ||||||
Adjustments due to changes in subsidiaries’ equity and other, net | (36.7) | (54.9) | 3.4 | (51.5) | 14.8 | |||||
Ending balance at Jun. 30, 2015 | $ 12,473.2 | $ 16,103 | $ (5,009.8) | $ 1,885.1 | $ (0.8) | $ 12,986.2 | $ (513) | $ 2.5 | $ 0.1 | $ 6.1 |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Cash flows from operating activities: | ||||
Net loss | $ (409.9) | $ (241.2) | $ (931.6) | $ (320.5) |
Earnings from discontinued operation | 0 | 7.2 | 0 | (333.5) |
Loss from continuing operations | (409.9) | (234) | (931.6) | (654) |
Adjustments to reconcile loss from continuing operations to net cash provided by operating activities: | ||||
Share-based compensation expense | 56.6 | 54.4 | 128 | 109.5 |
Depreciation and amortization | 1,477.8 | 1,393.4 | 2,929.2 | 2,770.5 |
Impairment, restructuring and other operating items, net | 25.7 | 27.6 | 42.7 | 141.2 |
Amortization of deferred financing costs and non-cash interest accretion | 34.2 | 41.8 | ||
Realized and unrealized losses on derivative instruments, net | 679.7 | 328.6 | 61.2 | 705.2 |
Foreign currency transaction losses, net | (340.4) | 36.4 | 695.2 | 57.2 |
Realized and unrealized gains due to changes in fair values of certain investments, including impact of dividends | (261.1) | (97.2) | ||
Losses on debt modification and extinguishment, net | 73.8 | 53 | 348.3 | 73.9 |
Deferred income tax benefit | (142.7) | (248.4) | ||
Excess tax benefit from share-based compensation | (17.9) | 0 | ||
Changes in operating assets and liabilities, net of the effects of acquisitions and dispositions | (199.7) | 17 | ||
Net cash used by operating activities of discontinued operation | 0 | (9.6) | ||
Net cash provided by operating activities | 2,685.8 | 2,907.1 | ||
Cash flows from investing activities: | ||||
Capital expenditures | (1,262.4) | (1,402) | ||
Cash paid in connection with acquisitions, net of cash acquired | (279.3) | (32.3) | ||
Investments in and loans to affiliates and others | (161.4) | (18.6) | ||
Proceeds received upon disposition of discontinued operation, net of disposal costs | 0 | 985.2 | ||
Other investing activities, net | 11 | 11.1 | ||
Net cash used by investing activities of discontinued operation | 0 | (3.8) | ||
Net cash used by investing activities | (1,692.1) | (460.4) | ||
Cash flows from financing activities: | ||||
Borrowings of debt | 11,192.3 | 3,605.8 | ||
Repayments and repurchases of debt and capital lease obligations | (10,717.8) | (6,328.9) | ||
Repurchase of Old Liberty Global Ordinary Shares | (908.1) | (895.9) | ||
Payment of financing costs and debt premiums | (356.5) | (172.2) | ||
Net cash paid related to derivative instruments | (303.3) | (177.6) | ||
Purchase of additional shares of subsidiaries | (142.2) | 0 | ||
Net cash paid associated with call option contracts on Old Liberty Global Ordinary Shares | (121.2) | (98.8) | ||
Other financing activities, net | 24.3 | 7.7 | ||
Net cash used by financing activities of discontinued operation | 0 | (1.2) | ||
Net cash used by financing activities | (1,332.5) | (4,061.1) | ||
Effect of exchange rate changes on cash – continuing operations | (0.2) | 22.7 | ||
Net decrease in cash and cash equivalents: | ||||
Continuing operations | (339) | (1,577.1) | ||
Discontinued operation | 0 | (14.6) | ||
Net decrease in cash and cash equivalents | (339) | (1,591.7) | ||
Cash and cash equivalents: | ||||
Beginning of period | 1,158.5 | 2,701.9 | ||
End of period | $ 819.5 | $ 1,110.2 | 819.5 | 1,110.2 |
Cash paid for interest – continuing operations | 1,138.2 | 1,199.1 | ||
Net cash paid for taxes: | ||||
Net cash paid for taxes: | 167.3 | 54.5 | ||
Discontinued operation | 0 | 2.2 | ||
Total | $ 167.3 | $ 56.7 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 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 June 30, 2015 in 14 countries. 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. Through Ziggo Group Holding B.V. ( Ziggo Group Holding ), Unitymedia GmbH ( Unitymedia ), each a wholly-owned subsidiary, and Telenet Group Holding NV ( Telenet ), a 57.0% -owned subsidiary, we provide video, broadband internet, fixed-line telephony and mobile services in the Netherlands, Germany and Belgium, respectively. Through UPC Holding BV ( UPC Holding ), we also provide (a) video, broadband internet and fixed-line telephony services in seven other European countries and (b) mobile services in four other European countries. The operations of Virgin Media , Ziggo Group Holding , Unitymedia , 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 ). In Puerto Rico, we provide video, broadband internet and fixed-line telephony services through Liberty Cablevision of Puerto Rico LLC ( Liberty Puerto Rico ), an entity in which we hold a 60.0% ownership interest. The operations of VTR and Liberty Puerto Rico are collectively referred to herein as the “ LiLAC Division .” On January 31, 2014, we completed the sale of substantially all of the assets (the Chellomedia Disposal Group ) of Chellomedia B.V. ( Chellomedia ) (the Chellomedia Transaction ). 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. On July 1, 2015, we completed the approved steps of the “ LiLAC Transaction ” whereby we (i) reclassified our then outstanding Class A, Class B and Class C Liberty Global ordinary shares (collectively, the Old Liberty Global Ordinary Shares ) into corresponding classes of new Liberty Global ordinary shares (collectively, the Liberty Global Ordinary Shares ) and (ii) capitalized a portion of our share premium account and distributed as a dividend (or a “bonus issue” under U.K. law) our LiLAC ordinary shares (collectively, LiLAC Ordinary Shares ). Pursuant to the LiLAC Transaction , each holder of Class A, Class B and Class C Old Liberty Global Ordinary Shares remained a holder of the same amount and class of Liberty Global Ordinary Shares and received one share of the corresponding class of LiLAC Ordinary Shares for each 20 Old Liberty Global Ordinary Shares held as of the record date for such distribution. Accordingly, we issued 12,625,362 Class A, 523,626 Class B and 30,776,883 Class C LiLAC Ordinary Shares . Cash was issued in lieu of fractional LiLAC Ordinary Shares . The LiLAC Ordinary Shares have a nominal value of $0.01 per share. The impact of the July 1, 2015 LiLAC Transaction on our capitalization and earnings (loss) per share presentation, which will be reflected prospectively beginning with the third quarter of 2015, has not been reflected in these condensed consolidated financial statements. The Liberty Global Ordinary Shares and the LiLAC Ordinary Shares are tracking shares. Tracking shares are intended by the issuing company to reflect or “track” the economic performance of a particular business or “group,” rather than the economic performance of the company as a whole. The Liberty Global Ordinary Shares and the LiLAC Ordinary Shares are intended to reflect or “track” the economic performance of the Liberty Global Group and the LiLAC Group , respectively (each as defined and described below). While the Liberty Global Group and the LiLAC Group have separate collections of businesses, assets and liabilities attributed to them, neither group is a separate legal entity and therefore cannot own assets, issue securities or enter into legally binding agreements. Holders of tracking shares have no direct claim to the group’s shares or assets and are not represented by separate boards of directors. Instead, holders of tracking shares are shareholders of the parent corporation, with a single board of directors and subject to all of the risks and liabilities of the parent corporation. We and our subsidiaries each continue to be responsible for our respective liabilities. Holders of Liberty Global Ordinary Shares , LiLAC Ordinary Shares and any other of our capital shares designated as ordinary shares from time to time will continue to be subject to risks associated with an investment in our company as a whole, even if a holder does not own both Liberty Global Ordinary Shares and LiLAC Ordinary Shares . The “ LiLAC Group ” comprises our businesses, assets and liabilities in Latin America and the Caribbean and has attributed to it (i) VTR Finance B.V. ( VTR Finance ) and its subsidiaries, which include VTR , (ii) Lila Chile Holding BV ( Lila Chile Holding ), which is the parent entity of VTR Finance , (iii) LiLAC Holdings Inc. ( LiLAC Holdings ) and its subsidiaries, which include Liberty Puerto Rico , and (iv) the costs associated with certain corporate employees of Liberty Global that are exclusively focused on the management of the LiLAC Group (the LiLAC Corporate Costs ). The “ Liberty Global Group ” comprises our businesses, assets and liabilities not attributed to the LiLAC Group , including Virgin Media , Ziggo Group Holding , Unitymedia , Telenet , UPC Holding , our corporate entities (excluding the LiLAC Corporate Costs ) and certain other less significant entities. On June 30, 2015, in order to provide liquidity to fund, among other things, ongoing operating costs and acquisitions of the LiLAC Group , a subsidiary attributed to the Liberty Global Group made a $100.0 million cash capital contribution to LiLAC Holdings . For additional information regarding our tracking share capital structure, including unaudited financial information of the Liberty Global Group and the LiLAC Group , see Exhibit 99.1 to this Quarterly Report on Form 10-Q. 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 June 30, 2015 . Certain prior period amounts have been reclassified to conform to the current period presentation. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 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 January 1, 2018. Early application is permitted, but no sooner than January 1, 2017. 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 | 6 Months Ended |
Jun. 30, 2015 | |
Business Combinations [Abstract] | |
Acquisitions | Acquisitions Pending Acquisition 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 ( $1,477.1 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 ( $1,115.3 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 ( $111.5 million ). 2015 Acquisition On June 3, 2015 , pursuant to a Stock Purchase Agreement (the Choice Purchase Agreement ) with the parent of Puerto Rico Cable Acquisition Company Inc., dba Choice Cable TV ( Choice ) and following regulatory approval, one of our subsidiaries, together with investment funds affiliated with Searchlight Capital Partners, L.P. (collectively, Searchlight ), acquired 100% of Choice (the Choice Acquisition ). Choice is a cable and broadband services provider in Puerto Rico. We acquired Choice in order to achieve certain financial, operational, and strategic benefits through the integration of Choice with those of Liberty Puerto Rico , and the combined business will be 60% -owned by our company and 40% -owned by Searchlight . The purchase price for Choice of $276.1 million was funded through (i) Liberty Puerto Rico ’s incremental debt borrowings, net of discount and fees, of $259.1 million , (ii) cash of $10.2 million and (iii) an equity contribution from Searchlight of $6.8 million . We have accounted for the Choice Acquisition using the acquisition method of accounting, whereby the total purchase price was allocated to the acquired identifiable net assets of Choice based on assessments of their respective fair values, and the excess of the purchase price over the fair values of these identifiable net assets was allocated to goodwill. A summary of the purchase price and the preliminary opening balance sheet for the Choice Acquisition at the June 3, 2015 acquisition date is presented in the following table. The preliminary opening balance sheet is subject to adjustment based on our final assessment of the fair values of the acquired identifiable assets and liabilities. Although most items in the valuation process remain open, the items with the highest likelihood of changing upon finalization of the valuation process include property and equipment, goodwill, intangible assets associated with franchise rights and customer relationships and income taxes (in millions): Cash and cash equivalents $ 3.6 Other current assets 7.8 Property and equipment, net 80.4 Goodwill (a) 51.5 Intangible assets subject to amortization (b) 58.9 Franchise rights 147.6 Other assets, net 0.3 Other accrued and current liabilities (13.2 ) Non-current deferred tax liabilities (60.8 ) Total purchase price (c) $ 276.1 _______________ (a) The goodwill recognized in connection with the Choice Acquisition is primarily attributable to (i) the ability to take advantage of Choice ’s existing advanced broadband communications network to gain immediate access to potential customers and (ii) substantial synergies that are expected to be achieved through the integration of Choice with Liberty Puerto Rico . The entire amount of goodwill is expected to be deductible for U.S. tax purposes. (b) Amount primarily includes intangible assets related to customer relationships. As of June 3, 2015 , the weighted average useful life of Choice ’s intangible assets was approximately ten years . (c) Excludes direct acquisition costs of $8.3 million , which are included in impairment, restructuring and other operating items, net, in our condensed consolidated statements of operations. 2014 Acquisition 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 ). Ziggo is a provider of video, broadband internet, fixed-line telephony and mobile services in the Netherlands. 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 ). 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 , which was completed during the second quarter of 2015, Ziggo shareholders other than Liberty Global received cash consideration of €39.78 ( $44.37 ) per share, plus interest, for an aggregate of €125.9 million ( $142.2 million at the applicable rates). This amount was approved in April 2015 by the Enterprise Court in the Netherlands. For accounting purposes, (i) the Ziggo Acquisition was treated as the acquisition of Ziggo by Liberty Global and (ii) the Ziggo NCI Acquisition and the Statutory Squeeze-out were treated as the acquisitions of noncontrolling interests. 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 July 21, 2015, we sold our Film1 channel to Sony Pictures Television Networks. 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 and six months ended June 30, 2015 and 2014 give effect to (i) the acquisition of 100% of Ziggo and (ii) the Choice Acquisition , as if they 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 these transactions had occurred on such date. The pro forma adjustments are based on certain assumptions that we believe are reasonable. Three months ended Six months ended June 30, June 30, 2015 2014 2015 2014 in millions, except per share amounts Revenue: Liberty Global Group: Continuing operations $ 4,255.1 $ 4,847.7 $ 8,484.2 $ 9,617.1 Discontinued operation — — — 26.6 Total - Liberty Global Group 4,255.1 4,847.7 8,484.2 9,643.7 LiLAC Group 326.4 328.1 636.3 649.7 Intergroup eliminations — — — (0.1 ) Total $ 4,581.5 $ 5,175.8 $ 9,120.5 $ 10,293.3 Net loss attributable to Liberty Global shareholders: Liberty Global Group $ (457.3 ) $ (452.0 ) $ (1,025.4 ) $ (603.3 ) LiLAC Group (7.5 ) 7.6 25.0 (59.3 ) Total $ (464.8 ) $ (444.4 ) $ (1,000.4 ) $ (662.6 ) Basic and diluted loss attributable to Liberty Global shareholders per share $ (0.53 ) $ (0.49 ) $ (1.13 ) $ (0.73 ) Our condensed consolidated statements of operations for the three and six months ended June 30, 2015 include revenue of $7.4 million and net earnings of $0.1 million attributable to Choice . |
Derivative Instruments
Derivative Instruments | 6 Months Ended |
Jun. 30, 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 ). With the exception of a limited number of our foreign currency forward contracts, we 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: June 30, 2015 December 31, 2014 Current Long-term (a) Total Current Long-term (a) Total in millions Assets: Cross-currency and interest rate derivative contracts: Liberty Global Group $ 187.8 $ 1,239.5 $ 1,427.3 $ 443.6 $ 812.5 $ 1,256.1 LiLAC Group — 189.4 189.4 — 101.2 101.2 Total cross-currency and interest rate derivative contracts (b) 187.8 1,428.9 1,616.7 443.6 913.7 1,357.3 Equity-related derivative instruments - Liberty Global Group (c) 54.1 280.6 334.7 — 400.2 400.2 Foreign currency forward contracts: Liberty Global Group 1.6 — 1.6 1.4 — 1.4 LiLAC Group 3.3 — 3.3 1.1 — 1.1 Total foreign currency forward contracts 4.9 — 4.9 2.5 — 2.5 Other - Liberty Global Group 1.5 1.0 2.5 0.5 0.9 1.4 Total assets: Liberty Global Group 245.0 1,521.1 1,766.1 445.5 1,213.6 1,659.1 LiLAC Group 3.3 189.4 192.7 1.1 101.2 102.3 Total $ 248.3 $ 1,710.5 $ 1,958.8 $ 446.6 $ 1,314.8 $ 1,761.4 June 30, 2015 December 31, 2014 Current Long-term (a) Total Current Long-term (a) Total in millions Liabilities: Cross-currency and interest rate derivative contracts: Liberty Global Group $ 309.8 $ 1,636.5 $ 1,946.3 $ 987.9 $ 1,443.9 $ 2,431.8 LiLAC Group 32.6 3.0 35.6 39.5 — 39.5 Total cross-currency and interest rate derivative contracts (b) 342.4 1,639.5 1,981.9 1,027.4 1,443.9 2,471.3 Equity-related derivative instruments - Liberty Global Group (c) 33.4 231.9 265.3 15.3 73.1 88.4 Foreign currency forward contracts: Liberty Global Group 9.3 — 9.3 0.6 — 0.6 LiLAC Group — — — 0.2 — 0.2 Total foreign currency forward contracts 9.3 — 9.3 0.8 — 0.8 Other - Liberty Global Group 0.1 0.1 0.2 0.2 0.1 0.3 Total liabilities: Liberty Global Group 352.6 1,868.5 2,221.1 1,004.0 1,517.1 2,521.1 LiLAC Group 32.6 3.0 35.6 39.7 — 39.7 Total $ 385.2 $ 1,871.5 $ 2,256.7 $ 1,043.7 $ 1,517.1 $ 2,560.8 _______________ (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 June 30, 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 $63.3 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 $155.4 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 a net gain (loss) of $77.2 million and ( $19.4 million ) during the three months ended June 30, 2015 and 2014 , respectively, and a net gain (loss) of $60.3 million and ( $48.9 million ) during the six months ended June 30, 2015 and 2014 , respectively. These amounts are included in realized and unrealized 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 primarily 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 June 30, 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 losses on derivative instruments, net, are as follows: Three months ended Six months ended June 30, June 30, 2015 2014 2015 2014 in millions Cross-currency and interest rate derivative contracts: Liberty Global Group $ (547.7 ) $ (287.6 ) $ 114.6 $ (580.3 ) LiLAC Group (0.6 ) 1.9 77.6 (125.6 ) Total cross-currency and interest rate derivative contracts (548.3 ) (285.7 ) 192.2 (705.9 ) Equity-related derivative instruments - Liberty Global Group: ITV Collar (53.5 ) — (158.9 ) — Sumitomo Collar (61.8 ) (23.8 ) (71.9 ) (15.3 ) Ziggo Collar — (21.3 ) — (5.9 ) Other 0.5 0.7 1.1 0.9 Total equity-related derivative instruments (114.8 ) (44.4 ) (229.7 ) (20.3 ) Foreign currency forward contracts: Liberty Global Group (18.1 ) 0.5 (27.4 ) 19.6 LiLAC Group 1.8 (0.1 ) 3.0 0.8 Total foreign currency forward contracts (16.3 ) 0.4 (24.4 ) 20.4 Other - Liberty Global Group (0.3 ) 1.1 0.7 0.6 Total Liberty Global Group (680.9 ) (330.4 ) (141.8 ) (580.4 ) Total LiLAC Group 1.2 1.8 80.6 (124.8 ) Total $ (679.7 ) $ (328.6 ) $ (61.2 ) $ (705.2 ) 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 foreign currency forward contracts that are used to hedge capital expenditures, the net cash received or paid is classified as an adjustment to capital expenditures in our condensed consolidated statements of 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 outflows is as follows: Six months ended June 30, 2015 2014 in millions Operating activities: Liberty Global Group $ (161.3 ) $ (252.1 ) LiLAC Group (17.7 ) 3.6 Total operating activities (179.0 ) (248.5 ) Investing activities - LiLAC Group (0.4 ) — Financing activities: Liberty Global Group (303.3 ) (140.2 ) LiLAC Group — (37.4 ) Total financing activities (303.3 ) (177.6 ) Total cash outflows: Liberty Global Group (464.6 ) (392.3 ) LiLAC Group (18.1 ) (33.8 ) Total $ (482.7 ) $ (426.1 ) 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 June 30, 2015 , our exposure to counterparty credit risk included derivative assets with an aggregate fair value of $1,559.9 million . Details of our Derivative Instruments In the following tables, we present the details of the various categories of our subsidiaries’ derivative instruments. For each subsidiary, the notional amount of multiple derivative instruments that mature within the same calendar month are shown in the aggregate and interest rates are presented on a weighted average basis. In addition, for derivative instruments that were in effect as of June 30, 2015 , we present a single date that represents the applicable final maturity date. For derivative instruments that become effective subsequent to June 30, 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 June 30, 2015 are as follows: Subsidiary / F inal maturity date Notional amount due from counterparty Notional amount due to counterparty Interest rate due from counterparty Interest rate due to counterparty in millions Virgin Media Investment Holdings Limited ( VMIH ), a subsidiary of Virgin Media: January 2023 $ 400.0 € 339.6 5.75% 4.33% June 2023 $ 1,855.0 £ 1,198.3 6 mo. LIBOR + 2.75% 6 mo. GBP LIBOR + 3.18% February 2022 $ 1,400.0 £ 873.6 5.01% 5.49% January 2023 $ 1,000.0 £ 648.6 5.25% 5.32% January 2021 $ 500.0 £ 308.9 5.25% 6 mo. GBP LIBOR + 2.06% October 2022 $ 450.0 £ 272.0 6.00% 6.43% January 2022 $ 425.0 £ 255.8 5.50% 5.82% April 2019 $ 191.5 £ 122.3 5.38% 5.49% November 2016 (a) $ 55.0 £ 27.7 6.50% 7.03% October 2019 $ 50.0 £ 30.3 8.38% 8.98% October 2019 - October 2022 $ 50.0 £ 30.7 6.00% 5.75% UPC Broadband Holding BV ( UPC Broadband Holding ), a subsidiary of UPC Holding: January 2023 $ 1,140.0 € 1,043.7 5.38% 3.71% July 2021 $ 440.0 € 337.2 6 mo. LIBOR + 2.50% 6 mo. EURIBOR + 2.87% January 2017 - July 2021 $ 262.1 € 194.1 6 mo. LIBOR + 2.50% 6 mo. EURIBOR + 2.51% January 2020 $ 252.5 € 192.5 6 mo. LIBOR + 4.93% 7.49% November 2019 $ 250.0 € 181.5 7.25% 7.74% November 2021 $ 250.0 € 181.4 7.25% 7.50% October 2020 $ 125.0 € 91.3 6 mo. LIBOR + 3.00% 6 mo. EURIBOR + 3.04% January 2020 $ 122.5 € 93.4 6 mo. LIBOR + 4.94% 6 mo. EURIBOR + 4.87% December 2016 $ 340.0 CHF 370.9 6 mo. LIBOR + 3.50% 6 mo. CHF LIBOR + 4.01% July 2016 - January 2020 $ 225.0 CHF 206.3 6 mo. LIBOR + 4.81% 5.44% July 2016 (a) $ 225.0 CHF 206.3 6 mo. LIBOR + 4.81% 1.00% July 2021 $ 200.0 CHF 186.0 6 mo. LIBOR + 2.50% 6 mo. CHF LIBOR + 2.55% January 2017 - July 2023 $ 200.0 CHF 185.5 6 mo. LIBOR + 2.50% 6 mo. CHF LIBOR + 2.48% November 2019 $ 175.0 CHF 158.7 7.25% 6 mo. CHF LIBOR + 5.01% January 2017 - July 2021 $ 100.0 CHF 92.8 6 mo. LIBOR + 2.50% 6 mo. CHF LIBOR + 2.49% Subsidiary / F inal maturity date Notional amount due from counterparty Notional amount due to counterparty Interest rate due from counterparty Interest rate due to counterparty in millions 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% January 2021 € 720.8 CHF 877.0 6 mo. EURIBOR + 2.50% 6 mo. CHF LIBOR + 2.62% January 2017 - September 2022 € 383.8 CHF 477.0 6 mo. EURIBOR + 2.00% 6 mo. CHF LIBOR + 2.22% January 2017 € 360.4 CHF 589.0 6 mo. EURIBOR + 3.75% 6 mo. CHF LIBOR + 3.94% April 2018 € 285.1 CHF 346.7 10.51% 9.87% January 2020 € 175.0 CHF 258.6 7.63% 6.76% July 2020 € 107.4 CHF 129.0 6 mo. EURIBOR + 3.00% 6 mo. CHF LIBOR + 3.28% July 2023 € 85.3 CHF 95.0 6 mo. EURIBOR + 2.21% 6 mo. CHF LIBOR + 2.65% July 2021 € 76.1 CHF 92.1 6 mo. EURIBOR + 2.50% 6 mo. CHF LIBOR + 2.88% January 2017 € 75.0 CHF 110.9 7.63% 6.98% December 2015 € 69.1 CLP 53,000.0 3.50% 5.75% January 2020 € 318.9 CZK 8,818.7 5.58% 5.44% January 2017 € 60.0 CZK 1,703.1 5.50% 6.99% July 2017 € 39.6 CZK 1,000.0 3.00% 3.75% July 2016 (a) € 260.0 HUF 75,570.0 5.50% 5.00% July 2016 - January 2017 € 260.0 HUF 75,570.0 5.50% 10.56% December 2016 € 150.0 HUF 43,367.5 5.50% 2.00% July 2018 € 78.0 HUF 19,500.0 5.50% 9.15% January 2017 € 245.0 PLN 1,000.6 5.50% 9.03% September 2016 € 200.0 PLN 892.7 6.00% 3.91% January 2020 € 144.6 PLN 605.0 5.50% 7.98% July 2017 € 82.0 PLN 318.0 3.00% 5.60% December 2015 CLP 53,000.0 € 69.1 5.75% 3.50% Amsterdamse Beheer-en Consultingmaatschappij BV ( ABC B.V. ), a subsidiary of Ziggo Group Holding: January 2022 $ 2,350.0 € 1,727.0 6 mo. LIBOR + 2.75% 4.56% January 2023 $ 400.0 € 339.0 5.88% 4.58% Unitymedia Hessen GmbH & Co. KG ( Unitymedia Hessen ), a subsidiary of Unitymedia: January 2023 $ 1,652.9 € 1,252.5 5.67% 4.50% January 2021 $ 797.1 € 546.5 5.50% 5.60% VTR: January 2022 $ 1,400.0 CLP 760,340.0 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 June 30, 2015 are as follows: Subsidiary / Final maturity date Notional amount Interest rate due from counterparty Interest rate due to counterparty in millions VMIH: October 2018 £ 2,155.0 6 mo. GBP LIBOR 1.52% October 2018 - June 2023 £ 1,200.0 6 mo. GBP LIBOR 2.49% January 2021 £ 650.0 5.50% 6 mo. GBP LIBOR + 1.84% January 2021 £ 650.0 6 mo. GBP LIBOR + 1.84% 3.87% December 2015 £ 600.0 6 mo. GBP LIBOR 2.90% April 2018 £ 300.0 6 mo. GBP LIBOR 1.37% UPC Broadband Holding: January 2022 $ 675.0 6.88% 6 mo. LIBOR + 4.90% July 2020 € 750.0 6.38% 6 mo. EURIBOR + 3.16% July 2016 € 503.4 6 mo. EURIBOR 0.20% July 2016 - January 2021 € 250.0 6 mo. EURIBOR 2.52% July 2016 - January 2023 € 210.0 6 mo. EURIBOR 2.88% November 2021 € 107.0 6 mo. EURIBOR 2.89% July 2016 - July 2020 € 43.4 6 mo. EURIBOR 3.95% July 2016 CHF 900.0 6 mo. CHF LIBOR 0.05% January 2022 CHF 711.5 6 mo. CHF LIBOR 1.89% July 2016 - January 2021 CHF 500.0 6 mo. CHF LIBOR 1.65% July 2016 - January 2018 CHF 400.0 6 mo. CHF LIBOR 2.51% December 2016 CHF 370.9 6 mo. CHF LIBOR 3.82% November 2019 CHF 226.8 6 mo. CHF LIBOR + 5.01% 6.88% ABC B.V.: January 2022 € 1,566.0 6 mo. EURIBOR 1.66% January 2016 € 689.0 1 mo. EURIBOR + 3.75% 6 mo. EURIBOR + 3.59% January 2021 € 500.0 6 mo. EURIBOR 2.60% July 2016 € 290.0 6 mo. EURIBOR 0.20% July 2016 - January 2023 € 290.0 6 mo. EURIBOR 2.84% March 2021 € 175.0 6 mo. EURIBOR 2.32% July 2016 € 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: June 2023 € 500.0 3 mo. EURIBOR 1.45% Subsidiary / Final maturity date Notional amount Interest rate due from counterparty Interest rate due to counterparty in millions July 2017 - June 2022 € 420.0 3 mo. EURIBOR 2.08% June 2021 € 400.0 3 mo. EURIBOR 0.41% July 2017 - June 2023 € 382.0 3 mo. EURIBOR 1.89% July 2017 € 150.0 3 mo. EURIBOR 3.55% August 2015 - June 2022 € 55.0 3 mo. EURIBOR 1.81% Liberty Puerto Rico: October 2016 - January 2022 $ 506.3 3 mo. LIBOR 2.49% October 2016 - January 2019 $ 168.8 3 mo. LIBOR 1.96% Interest Rate Caps Our purchased and sold interest rate cap contracts with respect to EURIBOR at June 30, 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: January 2020 € 735.0 7.00% Telenet International: June 2017 € 50.0 4.50% Telenet NV, a subsidiary of Telenet: December 2017 € 0.5 6.50% December 2017 € 0.5 5.50% Interest rate cap sold (b): UPC Broadband Holding: January 2020 € 735.0 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 June 30, 2015 , as detailed below: Subsidiary / Final maturity date Notional amount EURIBOR floor rate (a) EURIBOR cap rate (b) in millions UPC Broadband Holding: January 2020 € 1,135.0 1.00% 3.54% Telenet International: July 2017 € 650.0 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 June 30, 2015 : Subsidiary Currency purchased forward Currency sold forward Maturity dates in millions LGE Financing $ 375.6 € 334.8 July 2015 - June 2016 UPC Broadband Holding $ 16.6 CZK 405.0 July 2015 - March 2016 UPC Broadband Holding € 50.5 CHF 58.3 July 2015 - March 2016 UPC Broadband Holding € 14.6 CZK 405.0 July 2015 - March 2016 UPC Broadband Holding € 14.4 HUF 4,500.0 July 2015 - March 2016 UPC Broadband Holding € 28.3 PLN 120.0 July 2015 - December 2015 UPC Broadband Holding € 27.0 RON 121.1 July 2015 - March 2016 UPC Broadband Holding £ 2.7 € 3.6 July 2015 - March 2016 UPC Broadband Holding CHF 35.5 € 34.0 July 2015 UPC Broadband Holding CZK 500.0 € 18.4 July 2015 UPC Broadband Holding HUF 6,000.0 € 19.2 July 2015 UPC Broadband Holding PLN 60.0 € 14.4 July 2015 UPC Broadband Holding RON 5.0 € 1.1 July 2015 Telenet NV $ 54.3 € 48.4 July 2015 - June 2016 VTR $ 84.1 CLP 52,149.9 July 2015 - May 2016 |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 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 June 30, 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 six months ended June 30, 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 June 30, 2015 valuation of the ITV Collar , we used estimated volatilities ranging from 25.7% to 29.9% . At June 30, 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 six months ended June 30, 2015 , we performed nonrecurring valuations for the purpose of determining the acquisition accounting for the Choice Acquisition . The discount rates used to value the customer relationships and franchise marketing rights acquired as a result of this acquisition were approximately 11.75% and 12.25% , respectively. For additional information, see note 3 . We did not perform any significant nonrecurring fair value measurements during the six months ended June 30, 2014 . A summary of our assets and liabilities that are measured at fair value on a recurring basis is as follows: Fair value measurements at June 30, 2015 using: Description June 30, Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) in millions Assets: Derivative instruments: Cross-currency and interest rate derivative contracts $ 1,616.7 $ — $ 1,616.7 $ — Equity-related derivative instruments 334.7 — — 334.7 Foreign currency forward contracts 4.9 — 4.9 — Other 2.5 — 2.5 — Total derivative instruments 1,958.8 — 1,624.1 334.7 Investments 1,928.8 1,608.7 — 320.1 Total assets $ 3,887.6 $ 1,608.7 $ 1,624.1 $ 654.8 Liabilities - derivative instruments: Cross-currency and interest rate derivative contracts $ 1,981.9 $ — $ 1,981.9 $ — Equity-related derivative instruments 265.3 — — 265.3 Foreign currency forward contracts 9.3 — 9.3 — Other 0.2 — 0.2 — Total liabilities $ 2,256.7 $ — $ 1,991.4 $ 265.3 Fair value measurements at December 31, 2014 using: Description December 31, 2014 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) in millions Assets: Derivative instruments: Cross-currency and interest rate derivative contracts $ 1,357.3 $ — $ 1,357.3 $ — Equity-related derivative instruments 400.2 — — 400.2 Foreign currency forward contracts 2.5 — 2.5 — Other 1.4 — 1.4 — Total derivative instruments 1,761.4 — 1,361.2 400.2 Investments 1,662.7 1,344.3 — 318.4 Total assets $ 3,424.1 $ 1,344.3 $ 1,361.2 $ 718.6 Liabilities - derivative instruments: Cross-currency and interest rate derivative contracts $ 2,471.3 $ — $ 2,471.3 $ — Equity-related derivative instruments 88.4 — — 88.4 Foreign currency forward contracts 0.8 — 0.8 — Other 0.3 — 0.3 — Total liabilities $ 2,560.8 $ — $ 2,472.4 $ 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 derivative instruments Total in millions Balance of net assets at January 1, 2015 $ 318.4 $ 311.8 $ 630.2 Losses included in net loss (a): Realized and unrealized losses on derivative instruments, net — (229.7 ) (229.7 ) Realized and unrealized losses due to changes in fair values of certain investments, net (1.5 ) — (1.5 ) Foreign currency translation adjustments and other, net 3.2 (12.7 ) (9.5 ) Balance of net assets at June 30, 2015 $ 320.1 $ 69.4 $ 389.5 _______________ (a) Most of these net losses relate to assets and liabilities that we continue to carry on our condensed consolidated balance sheet as of June 30, 2015 . |
Long-lived Assets
Long-lived Assets | 6 Months Ended |
Jun. 30, 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: June 30, December 31, in millions Distribution systems: Liberty Global Group $ 24,784.6 $ 24,985.6 LiLAC Group 1,094.5 1,026.9 Total 25,879.1 26,012.5 Customer premises equipment: Liberty Global Group 5,643.6 5,437.3 LiLAC Group 809.2 776.6 Total 6,452.8 6,213.9 Support equipment, buildings and land: Liberty Global Group 4,197.8 3,953.3 LiLAC Group 349.1 345.1 Total 4,546.9 4,298.4 Total property and equipment, gross: Liberty Global Group 34,626.0 34,376.2 LiLAC Group 2,252.8 2,148.6 Total 36,878.8 36,524.8 Accumulated depreciation: Liberty Global Group (12,761.3 ) (11,360.2 ) LiLAC Group (1,356.4 ) (1,324.0 ) Total (14,117.7 ) (12,684.2 ) Total property and equipment, net: Liberty Global Group 21,864.7 23,016.0 LiLAC Group 896.4 824.6 Total $ 22,761.1 $ 23,840.6 During the six months ended June 30, 2015 and 2014 , we recorded non-cash increases related to vendor financing arrangements of $675.9 million and $401.8 million , respectively, which exclude related value-added taxes ( VAT ) of $89.2 million and $41.6 million , respectively, that were also financed by our vendors under these arrangements. In addition, during the six months ended June 30, 2015 and 2014 , we recorded non-cash increases to our property and equipment related to assets acquired under capital leases of $74.5 million and $89.8 million , respectively. Goodwill Changes in the carrying amount of our goodwill during the six months ended June 30, 2015 are set forth below: January 1, 2015 Acquisitions and related adjustments Foreign currency translation adjustments June 30, in millions Liberty Global Group: European Operations Division: U.K./Ireland $ 9,245.1 $ 0.4 $ 66.2 $ 9,311.7 The Netherlands 8,605.0 138.0 (687.9 ) 8,055.1 Germany 3,456.9 — (270.6 ) 3,186.3 Belgium 1,978.9 — (154.9 ) 1,824.0 Switzerland/Austria 3,591.9 — 122.1 3,714.0 Total Western Europe 26,877.8 138.4 (925.1 ) 26,091.1 Central and Eastern Europe 1,302.1 0.5 (85.7 ) 1,216.9 Total European Operations Division 28,179.9 138.9 (1,010.8 ) 27,308.0 Corporate and other 34.4 — 0.1 34.5 Total Liberty Global Group 28,214.3 138.9 (1,010.7 ) 27,342.5 LiLAC Group: LiLAC Division: Chile 440.3 — (22.3 ) 418.0 Puerto Rico 226.1 51.5 — 277.6 Total LiLAC Division 666.4 51.5 (22.3 ) 695.6 Corporate and other 120.9 — — 120.9 Total LiLAC Group 787.3 51.5 (22.3 ) 816.5 Total $ 29,001.6 $ 190.4 $ (1,033.0 ) $ 28,159.0 Intangible Assets Subject to Amortization, Net The details of our intangible assets subject to amortization are set forth below: June 30, 2015 December 31, 2014 Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount in millions Customer relationships: Liberty Global Group $ 11,375.4 $ (3,586.5 ) $ 7,788.9 $ 12,052.5 $ (3,037.0 ) $ 9,015.5 LiLAC Group 148.8 (24.3 ) 124.5 90.0 (19.3 ) 70.7 Total 11,524.2 (3,610.8 ) 7,913.4 12,142.5 (3,056.3 ) 9,086.2 Other: Liberty Global Group 206.5 (120.5 ) 86.0 234.8 (131.2 ) 103.6 LiLAC Group 0.2 (0.1 ) 0.1 0.6 (0.6 ) — Total 206.7 (120.6 ) 86.1 235.4 (131.8 ) 103.6 Total intangible assets subject to amortization, net: Liberty Global Group 11,581.9 (3,707.0 ) 7,874.9 12,287.3 (3,168.2 ) 9,119.1 LiLAC Group 149.0 (24.4 ) 124.6 90.6 (19.9 ) 70.7 Total $ 11,730.9 $ (3,731.4 ) $ 7,999.5 $ 12,377.9 $ (3,188.1 ) $ 9,189.8 |
Debt and Capital Lease Obligati
Debt and Capital Lease Obligations | 6 Months Ended |
Jun. 30, 2015 | |
Debt and Capital Lease Obligations [Abstract] | |
Debt and Capital Lease Obligations | Debt and Capital Lease Obligations Debt The U.S. dollar equivalents of the components of our consolidated third-party debt are as follows: June 30, 2015 Carrying value (d) Weighted average interest rate (a) Unused borrowing capacity (b) Estimated fair value (c) Borrowing currency U.S. $ equivalent June 30, 2015 December 31, 2014 June 30, 2015 December 31, 2014 in millions Liberty Global Group: VM Notes 5.62 % — $ — $ 11,156.3 $ 8,461.0 $ 10,978.4 $ 8,060.7 VM Credit Facility 3.82 % £ 675.0 1,061.3 3,331.9 4,734.9 3,330.7 4,804.0 VM Convertible Notes (e) 6.50 % — — 185.1 178.7 56.5 56.8 Ziggo Credit Facilities 3.60 % € 450.0 501.9 5,534.5 4,663.0 5,518.7 4,710.8 Ziggo SPE Notes 4.46 % — — 1,710.3 — 1,738.3 — Ziggo Notes 6.82 % — — 1,006.2 1,082.3 989.0 1,077.0 Unitymedia Notes 5.03 % — — 7,698.7 7,869.3 7,441.0 7,400.9 Unitymedia Revolving Credit Facilities — € 500.0 557.7 — 319.4 — 338.8 UPCB SPE Notes 5.81 % — — 3,171.1 4,279.0 3,157.5 4,009.4 UPC Broadband Holding Bank Facility 3.25 % € 1,046.2 1,166.9 1,292.1 3,156.4 1,302.2 3,179.2 UPC Holding Senior Notes 6.59 % — — 1,674.0 2,603.6 1,540.6 2,391.6 Telenet SPE Notes 5.91 % — — 2,233.7 2,450.4 2,119.1 2,299.0 Telenet Credit Facility 3.41 % € 322.9 360.1 1,510.1 1,633.4 1,510.5 1,638.6 Sumitomo Collar Loan 1.88 % — — 797.7 818.0 774.3 787.7 ITV Collar Loan 1.73 % — — 687.0 678.2 679.0 667.0 Vendor financing (f) 3.39 % — — 992.9 946.4 992.9 946.4 Other 9.34 % — — 163.0 171.5 163.0 171.5 Total Liberty Global Group 4.83 % 3,647.9 43,144.6 44,045.5 42,291.7 42,539.4 LiLAC Group: VTR Finance Senior Secured Notes 6.88 % — — 1,440.3 1,439.4 1,400.0 1,400.0 VTR Credit Facility — (g) 194.4 — — — — Liberty Puerto Rico Bank Facility (h) 5.11 % $ 40.0 40.0 939.6 666.2 933.2 672.0 Total LiLAC Group 6.17 % 234.4 2,379.9 2,105.6 2,333.2 2,072.0 Total third-party debt 4.90 % $ 3,882.3 $ 45,524.5 $ 46,151.1 $ 44,624.9 $ 44,611.4 _______________ (a) Represents the weighted average interest rate in effect at June 30, 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 and 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% (including 5.2% for the Liberty Global Group and 8.7% for the LiLAC Group ) at June 30, 2015 . For information regarding our derivative instruments, see note 4 . (b) Unused borrowing capacity represents the maximum availability under the applicable facility at June 30, 2015 without regard to covenant compliance calculations or other conditions precedent to borrowing. At June 30, 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 the aggregate availability under (i) Unitymedia ’s (a) €420.0 million ( $468.4 million ) senior secured revolving credit facility (the UM Senior Secured Facility ) and (b) €80.0 million ( $89.2 million ) super senior secured revolving credit facility (together with the UM Senior Secured Facility , the Unitymedia Revolving Credit Facilities ) was limited to €481.9 million ( $537.5 million ) and (ii) the UPC Broadband Holding Bank Facility was limited to €381.0 million ( $424.9 million ). When the relevant June 30, 2015 compliance reporting requirements have been completed, and assuming no changes from June 30, 2015 borrowing levels, we anticipate that (1) the full amount of unused borrowing capacity under the Unitymedia Revolving Credit Facilities will be available to be borrowed, (2) the availability under the UPC Broadband Holding Bank Facility will be limited to €531.6 million ( $592.9 million ) and (3) the availability under the Ziggo Credit Facilities will be limited to €409.0 million ( $456.2 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 June 30, 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 , Ziggo and Virgin Media was limited to €64.4 million ( $71.8 million ), €225.4 million ( $251.4 million ) and £670.3 million ( $1,053.9 million ), respectively. When the relevant June 30, 2015 compliance reporting requirements have been completed and assuming no changes from June 30, 2015 borrowing levels, we anticipate that (I) the availability to be loaned or distributed by Unitymedia will be limited to €202.1 million ( $225.4 million ), (II) the availability to be loaned or distributed by Ziggo will be limited to €57.6 million ( $64.2 million ) and (III) the full amount of unused borrowing capacity will be available to be loaned or distributed by Virgin Media . On July 28, 2015, the availability under the Ziggo Credit Facilities was increased by €150.0 million ( $167.3 million ). For information regarding amounts under the Telenet Credit Facility that are not included in our unused borrowing capacity, see “Telenet Credit Facility” below . In addition, Telenet entered into a financing transaction subsequent to June 30, 2015 that could have an impact on its unused borrowing capacity. For additional information, 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) At June 30, 2015 , the VM Convertible Notes were exchangeable under certain conditions for (subject to further adjustment as provided in the underlying indenture (the VM Convertible Notes Indenture ) and subject to Virgin Media ’s right to settle in cash or a combination of Old Liberty Global Ordinary Shares and cash) 13.4339 Class A Old Liberty Global Ordinary Shares , 33.4963 Class C Old Liberty Global Ordinary Shares and $910.51 in cash (without interest) for each $1,000 in principal amount of VM Convertible Notes exchanged. As a result of the LiLAC Transaction , the VM Convertible Notes Indenture was amended such that the VM Convertible Notes are now exchangeable for 14.0791 Class A Liberty Global Ordinary Shares , 35.1665 Class C Liberty Global Ordinary Shares and $910.51 in cash (without interest) for each $1,000 in principal amount of VM Convertible Notes exchanged. (f) 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 June 30, 2015 and December 31, 2014 , the amounts owed pursuant to these arrangements include $110.6 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. (g) 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 ( $34.4 million ) Chilean peso facility (the VTR CLP Credit Facility ), each of which were undrawn at June 30, 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. (h) In June 2015, we increased the principal amount outstanding under the Liberty Puerto Rico Bank Facility by $267.5 million ( $261.1 million carrying value after deducting the applicable discount). Substantially all of the net proceeds from this borrowing were used to fund a portion of the purchase price for the Choice Acquisition . For additional information regarding the Choice Acquisition , see note 3 . Capital Lease Obligations The U.S. dollar equivalents of our consolidated capital lease obligations are as follows: June 30, 2015 December 31, 2014 in millions Liberty Global Group: Unitymedia $ 734.4 $ 810.1 Telenet 383.8 413.4 Virgin Media 215.6 255.3 Other subsidiaries 94.1 67.3 Total Liberty Global Group capital lease obligations 1,427.9 1,546.1 LiLAC Group: Liberty Puerto Rico 0.8 1.0 VTR 0.4 0.5 Total LiLAC Group capital lease obligations 1.2 1.5 Total capital lease obligations $ 1,429.1 $ 1,547.6 VM Notes The details of the outstanding senior notes of Virgin Media as of June 30, 2015 are summarized in the following table: Outstanding principal VM Notes Maturity Interest Borrowing U.S. $ Estimated Carrying in millions 2022 VM Senior Notes: 2022 VM 4.875% Dollar Senior Notes February 15, 2022 4.875% $ 118.7 $ 118.7 $ 112.1 $ 119.5 2022 VM 5.25% Dollar Senior Notes February 15, 2022 5.250% $ 95.0 95.0 90.2 95.7 2022 VM Sterling Senior Notes February 15, 2022 5.125% £ 44.1 69.3 69.5 70.0 2023 VM Senior Notes: 2023 VM Dollar Senior Notes April 15, 2023 6.375% $ 530.0 530.0 549.2 530.0 2023 VM Sterling Senior Notes April 15, 2023 7.000% £ 250.0 393.1 420.4 393.1 2024 VM Senior Notes: 2024 VM Dollar Senior Notes October 15, 2024 6.000% $ 500.0 500.0 508.4 500.0 2024 VM Sterling Senior Notes October 15, 2024 6.375% £ 300.0 471.7 492.7 471.7 2025 VM Senior Notes: 2025 VM Euro Senior Notes January 15, 2025 4.500% € 460.0 513.1 511.4 513.1 2025 VM Dollar Senior Notes January 15, 2025 5.750% $ 400.0 400.0 404.3 400.0 January 2021 VM Senior Secured Notes: January 2021 VM Sterling Senior Secured Notes January 15, 2021 5.500% £ 628.4 988.1 1,052.4 1,000.3 January 2021 VM Dollar Senior Secured Notes January 15, 2021 5.250% $ 447.9 447.9 471.9 459.1 April 2021 VM Senior Secured Notes: April 2021 VM Sterling Senior Secured Notes April 15, 2021 6.000% £ 990.0 1,556.7 1,626.8 1,556.7 April 2021 VM Dollar Senior Secured Notes April 15, 2021 5.375% $ 900.0 900.0 921.4 900.0 2025 VM Senior Secured Notes: 2025 VM 5.5% Sterling Senior Secured Notes January 15, 2025 5.500% £ 387.0 608.5 613.5 608.5 2025 VM Dollar Senior Secured Notes January 15, 2025 5.500% $ 425.0 425.0 427.1 425.0 2025 VM 5.125% Sterling Senior Secured Notes January 15, 2025 5.125% £ 300.0 471.7 466.7 471.7 2026 VM Senior Secured Notes January 15, 2026 5.250% $ 1,000.0 1,000.0 968.1 1,004.9 2027 VM Senior Secured Notes January 15, 2027 4.875% £ 525.0 825.5 797.2 825.5 2029 VM Senior Secured Notes March 28, 2029 6.250% £ 400.0 628.9 653.0 633.6 Total $ 10,943.2 $ 11,156.3 $ 10,978.4 _______________ (a) Amounts include the impact of premiums, where applicable, including amounts recorded in connection with the acquisition accounting for Virgin Media . Refinancing Transactions. 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 ( $825.5 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 April 2021 VM Sterling Senior Secured Notes , (2) 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 2025 VM 5.5% 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 ( $589.6 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 5.25% 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 . In connection with this transaction, we recognized a loss on debt modification and extinguishment, net, of $9.4 million . This loss includes the write-off of (i) $7.5 million of deferred financing costs and (ii) $1.9 million of unamortized discount. 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 ( $117.9 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 Date s ). 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 102.625% N.A. 2021 101.313% 102.438% 2022 100.656% 101.219% 2023 100.000% 100.609% 2024 and thereafter 100.000% 100.000% 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 June 30, 2015 are summarized in the following table: Facility Maturity Interest rate Facility amount (in borrowing currency) Unused borrowing capacity Carrying value (a) in millions D June 30, 2022 LIBOR + 3.25% (b) £ 100.0 $ — $ 156.9 E June 30, 2023 LIBOR + 3.50% (b) £ 849.4 — 1,332.6 F June 20, 2023 LIBOR + 2.75% (b) $ 1,855.0 — 1,841.2 Revolving Facility (c) December 31, 2021 LIBOR + 2.75% £ 675.0 1,061.3 — Total $ 1,061.3 $ 3,330.7 _______________ (a) The carrying values of VM Facilities D, E and F include the impact of discounts. (b) VM Facilities D, E and F each have a LIBOR floor of 0.75% . (c) The Revolving Facility has a fee on unused commitments of 1.1% per year. Refinancing Transactions. In June 2015, (i) $1,855.0 million of commitments under the existing VM Facility B under the VM Credit Facility were effectively rolled into a new dollar denominated term loan ( VM Facility F ) under the VM Credit Facility , which matures in June 2023 and (ii) we amended the terms of our Revolving Facility (the Revolving Facility Amendment ) to extend the maturity to December 31, 2021, reduce the margin from 3.25% to 2.75% and increase the commitments by £15.0 million ( $23.6 million ). In connection with these transactions, we recognized a loss on debt modification and extinguishment, net, of $4.8 million . This loss includes (a) the write-off of $3.2 million of deferred financing costs, (b) the write-off of $0.8 million of unamortized discount and (c) the payment of $0.8 million of third-party costs. VM Facility F and the Revolving Facility Amendment contain certain amendments to the VM Credit Facility , including the deletion of the senior net debt to annualized EBITDA (as specified in the VM Credit Facility ) maintenance covenant and amending the total net debt to annualized EBITDA (as specified in the VM Credit Facility ) maintenance covenant to limit its application so that it applies only for the benefit of the revolving credit facility lenders when greater than one-third of the revolving credit facilities are drawn on the last day of the relevant ratio period. On July 30, 2015, the VM Credit Facility was amended and restated to reflect these and certain other amendments approved by the majority lenders under the VM Credit Facility . Ziggo Credit Facilities The details of our borrowings under Ziggo Group Holding ’s credit facilities (the Ziggo Credit Facilities ) as of June 30, 2015 are summarized in the following table: Facility Maturity Interest rate Facility amount (in borrowing currency) Unused borrowing capacity (a) Carrying value (b) in millions Ziggo Dollar Facility January 15, 2022 LIBOR + 2.75% (c) $ 2,350.0 $ — $ 2,317.5 Ziggo Euro Facility January 15, 2022 EURIBOR + 3.00% (d) € 2,000.0 — 2,209.5 Senior Secured Proceeds Loan (e) January 15, 2025 3.750% € 800.0 — 892.2 Euro Senior Proceeds Loan (e) January 15, 2025 4.625% € 400.0 — 446.1 Dollar Senior Proceeds Loan (e) January 15, 2025 5.875% $ 400.0 — 400.0 New Ziggo Credit Facility March 31, 2021 EURIBOR + 3.75% € 689.2 — 768.6 Ziggo Revolving Facilities June 30, 2020 (f) € 650.0 501.9 223.1 Elimination of the Proceeds Loans in consolidation (e) — (1,738.3 ) Total $ 501.9 $ 5,518.7 _______________ (a) When the relevant June 30, 2015 compliance reporting requirements have been completed and assuming no changes from the June 30, 2015 borrowing levels, we anticipate that our availability under the Ziggo Credit Facilities will be limited to €409.0 million ( $456.2 million ). (b) The carrying values of the Ziggo Euro Facility and the Ziggo Dollar Facility include the impact of discounts. (c) The Ziggo Dollar Facility has a LIBOR floor of 0.75% . (d) The Ziggo Euro Facility has a EURIBOR floor of 0.75% . (e) Amounts relate to certain senior and senior secured notes (the Ziggo SPE Notes ) issued by special purpose financing entities (the Ziggo SPE s ) 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. (f) The Ziggo Revolving Facilities include (i) a €600.0 million ( $669.2 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 ( $55.8 million ) facility that bears interest at EURIBOR plus a margin of 2.0% and has a fee on unused commitments of 0.8% per year. On July 28, 2015, the commitments under the €600.0 million ( $669.2 million ) facility were increased by €150.0 million ( $167.3 million ). Unitymedia Notes The details of the outstanding notes of Unitymedia as of June 30, 2015 are summarized in the following table: Outstanding principal amount Unitymedia Notes Maturity Interest rate Borrowing currency U.S. $ equivalent Estimated fair value Carrying value in millions September 2012 UM Senior Secured Notes September 15, 2022 5.500 % € 585.0 $ 652.4 $ 696.9 $ 652.4 December 2012 UM Dollar Senior Secured Notes January 15, 2023 5.500 % $ 1,000.0 1,000.0 1,019.4 1,000.0 December 2012 UM Euro Senior Secured Notes January 15, 2023 5.750 % € 450.0 501.9 542.0 501.9 January 2013 UM Senior Secured Notes January 21, 2023 5.125 % € 450.0 501.9 531.7 501.9 April 2013 UM Senior Secured Notes April 15, 2023 5.625 % € 315.0 351.3 379.6 351.3 November 2013 UM Senior Secured Notes January 15, 2029 6.250 % € 475.0 529.8 597.6 529.8 October 2014 UM Senior Notes January 15, 2025 6.125 % $ 900.0 900.0 940.5 900.0 December 2014 UM Euro Senior Secured Notes January 15, 2025 4.000 % € 1,000.0 1,115.3 1,141.1 1,115.3 December 2014 UM Dollar Senior Secured Notes January 15, 2025 5.000 % $ 550.0 550.0 546.6 550.0 March 2015 UM Senior Notes January 15, 2027 3.750 % € 700.0 780.7 756.8 780.7 March 2015 UM Senior Secured Notes January 15, 2027 3.500 % € 500.0 557.7 546.5 557.7 Total $ 7,441.0 $ 7,698.7 $ 7,441.0 On March 11, 2015, Unitymedia Hessen and Unitymedia NRW GmbH (each, a subsidiary of Unitymedia and, together, the UM Senior Secured Note Issuer s ) issued €500.0 million ( $557.7 million ) principal amount of 3.5% senior secured notes due January 15, 2027 (the March 2015 UM Senior Secured Notes ). The net proceeds from the March 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 Issuer s: (a) the September 2012 UM Senior Secured Notes , (b) the December 2012 UM Euro Senior Secured Notes , (c) the January 2013 UM Senior Secured Notes and (d) 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 ( $780.7 million ) principal amount of 3.75% senior notes due January 15, 2027 (the March 2015 UM Senior Notes ). The net proceeds from the March 2015 UM Senior Notes were used to fully redeem the €618.0 million ( $689.3 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 . This loss includes (i) the payment of $89.8 million of redemption premium and (ii) the write-off of $1.4 million of unamortized discount. The March 2015 UM Senior Secured Notes are (i) senior obligations of the UM Senior Secured Note Issuer s 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 Issuer s, (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 Issuer s and certain other share and/or asset security of Unitymedia and certain of its subsidiaries. The March 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 March 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 March 2015 UM Senior Secured Notes and the March 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 ( $83.6 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 Issuer s 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 Issuer s 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 March 2015 UM Senior Secured Notes March 2015 UM Senior Notes 2021 101.750% 101.875% 2022 100.875% 100.938% 2023 100.438% 100.469% 2024 and thereafter 100.000% 100.000% Prior to January 15, 2021, during each 12 -month period commencing on the date on which the March 2015 UM Senior Secured Notes were issued, the UM Senior Secured Note Issuer s may redeem up to 10% of the principal amount of the March 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. 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% . 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 June 30, 2015 are summarized in the following table: Facility Maturity Interest rate Facility amount (in borrowing currency) (a) Unused borrowing capacity (b) Carrying value in millions AC (c) November 15, 2021 7.250% $ 675.0 $ — $ 675.0 AD (c) January 15, 2022 6.875% $ 675.0 — 675.0 AH (d) June 30, 2021 LIBOR + 2.50% (e) $ 1,305.0 — 1,302.2 AI April 30, 2019 EURIBOR + 3.25% € 1,046.2 1,166.9 — AK (c) January 15, 2027 4.000% € 600.0 — 669.2 AL (c) January 15, 2025 5.375% $ 1,140.0 — 1,140.0 Elimination of Facilities AC, AD, AK and AL in consolidation (c) — (3,159.2 ) Total $ 1,166.9 $ 1,302.2 _______________ (a) Except as described in (c) below, amounts represent total third-party facility amounts at June 30, 2015 without giving effect to the impact of discounts. (b) At June 30, 2015 , our availability under the UPC Broadband Holding Bank Facility was limited to €381.0 million ( $424.9 million ). When the relevant June 30, 2015 compliance reporting requirements have been completed and assuming no changes from the June 30, 2015 borrowing levels, we anticipate that our availability under the UPC Broadband Holding Bank Facility will be limited to €531.6 million ( $592.9 million ). Facility AI has a fee on unused commitments of 1.3% per year. (c) Amounts relate to certain senior secured notes (the UPCB SPE Notes ) issued by special purpose financing entities (the UPCB SPE s ) that are consolidated by UPC Holding and Liberty Global . The proceeds from the UPCB SPE Notes were used to fund additional Facilities AC, AD, AK and AL with our wholly-owned subsidiary UPC Financing Partnership ( UPC Financing ) as the borrower. Accordingly, the amounts outstanding under Facilities AC, AD, AK and AL are eliminated in our condensed consolidated financial statements. (d) The carrying value of Facility AH includes the impact of a discount. (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 and the remaining noncontrolling interest was transferred to another Liberty Global subsidiary (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 ( $557.7 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 ( $557.7 million ) aggregate principal amount of 7.625% senior secured notes (the UPCB Finance I Notes ), (b) €560.0 million ( $624.6 million ) |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2015 | |
Accrued Income Taxes [Abstract] | |
Income Taxes | Income Taxes Income tax benefit (expense) 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 Six months ended June 30, June 30, 2015 2014 2015 2014 in millions Computed “expected” tax benefit (a) $ 56.0 $ 49.3 $ 175.9 $ 162.0 Change in valuation allowances (b): Decrease (160.3 ) (193.5 ) (386.3 ) (248.7 ) Increase 42.8 101.3 43.8 106.2 International rate differences (b) (c): Increase 31.4 57.0 125.3 116.5 Decrease (21.0 ) (8.3 ) (34.5 ) (13.8 ) Tax effect of intercompany financing 38.5 41.0 76.7 81.5 Non-deductible or non-taxable foreign currency exchange results (b): Decrease (21.2 ) (16.5 ) (29.9 ) (23.9 ) Increase (67.3 ) (1.5 ) 2.2 0.6 Non-deductible or non-taxable interest and other expenses (b): Decrease (15.3 ) (53.2 ) (49.0 ) (84.2 ) Increase 12.1 16.1 23.3 31.1 Basis and other differences in the treatment of items associated with investments in subsidiaries and affiliates (b): Decrease (26.7 ) 3.7 (27.7 ) (45.9 ) Increase (2.7 ) 3.8 11.8 4.3 Recognition of previously unrecognized tax benefits 4.7 — 13.6 28.8 Tax benefit associated with technology innovation 6.6 — 10.5 — Other, net (7.6 ) 1.4 (7.8 ) 3.1 Total income tax benefit (expense) $ (130.0 ) $ 0.6 $ (52.1 ) $ 117.6 _______________ (a) The statutory or “expected” tax rates are the U.K. rates of 20.0% for the 2015 periods and 21.0% for 2014 periods. (b) Country jurisdictions giving rise to increases within the six -month period are grouped together and shown separately from country jurisdictions giving rise to decreases within the six -month period. (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 June 30, 2015 , our unrecognized tax benefits of $561.6 million included $284.5 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 Czech Republic, 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. We have received notices of adjustment from the Internal Revenue Service with respect to our 2013, 2010 and 2009 taxable income and we have entered into the appeals process with respect to the 2010 and 2009 matters. While we believe that the ultimate resolution of these proposed adjustments 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 June 30, 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 | 6 Months Ended |
Jun. 30, 2015 | |
Equity [Abstract] | |
Equity | Equity Share Repurchases During the six months ended June 30, 2015 , we purchased a total of 18,653,356 Class C Old Liberty Global Ordinary Shares at a weighted average price of $50.17 per share, for an aggregate purchase price of $935.8 million , including direct acquisition costs and the effects of derivative instruments. At June 30, 2015 , the remaining amount authorized for share repurchases was $3,002.8 million . |
Share-based Compensation
Share-based Compensation | 6 Months Ended |
Jun. 30, 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 Old Liberty Global Ordinary Shares and the shares of certain of our subsidiaries. The amounts and disclosures presented below have not been adjusted for the July 1, 2015 LiLAC Transaction . The following table summarizes our share-based compensation expense: Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 in millions Old Liberty Global Ordinary Shares: Performance-based incentive awards (a) $ 28.5 $ 23.2 $ 70.6 $ 43.8 Other share-based incentive awards 25.1 22.2 50.5 52.4 Total Old Liberty Global Ordinary Shares 53.6 45.4 121.1 96.2 Telenet share-based incentive awards 2.4 7.8 5.6 10.7 Other 0.6 1.2 1.3 2.6 Total $ 56.6 $ 54.4 $ 128.0 $ 109.5 Included in: Operating expense: Liberty Global Group $ 1.1 $ 3.2 $ 1.8 $ 4.0 LiLAC Group 0.3 0.4 0.3 0.9 Total operating expense 1.4 3.6 2.1 4.9 SG&A expense: Liberty Global Group 53.9 49.3 125.7 101.4 LiLAC Group (b) 1.3 1.5 0.2 3.2 Total SG&A expense 55.2 50.8 125.9 104.6 Total $ 56.6 $ 54.4 $ 128.0 $ 109.5 _______________ (a) Includes share-based compensation expense related to (i) Liberty Global performance-based restricted share units ( PSU s ), (ii) a challenge performance award plan for certain executive officers and key employees (the Challenge Performance Awards ) and (iii) the Performance Grant Units ( PGUs ). The Challenge Performance Awards include performance-based share appreciation rights ( PSAR s ) and PSU s. (b) The amount for the six-month period in 2015 includes the reversal of $1.8 million of share-based compensation expense, primarily related to forfeitures of unvested PSU s during the first quarter of 2015. The following table provides certain information related to share-based compensation not yet recognized for share-based incentive awards related to Old Liberty Global Ordinary Shares as of June 30, 2015 : Liberty Global ordinary shares (a) Liberty Global performance-based awards (b) Total compensation expense not yet recognized (in millions) $ 212.0 $ 148.7 Weighted average period remaining for expense recognition (in years) 3.1 1.3 _______________ (a) Amounts relate to awards granted or assumed by Liberty Global under (i) the Liberty Global 2014 Incentive Plan (as amended and restated effective February 24, 2015), (ii) the Liberty Global 2014 Nonemployee Director Incentive Plan, (iii) the Liberty Global, Inc. 2005 Incentive Plan (as amended and restated effective June 7, 2013), (iv) the Liberty Global, Inc. 2005 Nonemployee Director Incentive Plan (as amended and restated effective June 7, 2013) and (v) certain other incentive plans of Virgin Media , including Virgin Media ’s 2010 stock incentive plan. All new awards are granted under the Liberty Global 2014 Incentive Plan or the Liberty Global 2014 Nonemployee Director Incentive Plan. (b) Amounts relate to (i) the Challenge Performance Awards , (ii) PSU s and (iii) the PGUs . The following table summarizes certain information related to the incentive awards granted and exercised with respect to Old Liberty Global Ordinary Shares : Six months ended June 30, 2015 2014 Assumptions used to estimate fair value of options, share appreciation rights ( SARs ) and PSARs granted: Risk-free interest rate 0.96 - 1.89% 0.81 - 1.77% Expected life 3.0 - 5.5 years 3.1 - 5.1 years Expected volatility 23.1 - 30.1% 25.5 - 28.7% Expected dividend yield none none Weighted average grant-date fair value per share of awards granted: Options $ 14.73 $ 11.40 SARs $ 10.78 $ 8.95 PSARs $ — $ 8.15 Restricted share units ( RSUs ) $ 51.97 $ 39.72 PSUs $ 51.69 $ 40.41 PGUs $ — $ 44.04 Total intrinsic value of awards exercised (in millions): Options $ 93.5 $ 43.7 SARs $ 40.1 $ 17.7 PSARs $ 0.2 $ 0.2 Cash received from exercise of options (in millions) $ 37.0 $ 23.9 Income tax benefit related to share-based compensation (in millions) $ 28.0 $ 20.1 Share-based Award Activity - Old Liberty Global Ordinary Shares The following tables summarize the share-based award activity during the six months ended June 30, 2015 with respect to Old Liberty Global Ordinary Shares ordinary shares: Options — Class A ordinary shares Number of shares Weighted average exercise price Weighted average remaining contractual term Aggregate intrinsic value in years in millions Outstanding at January 1, 2015 1,726,259 $ 18.01 Granted 61,763 $ 54.97 Cancelled (13,836 ) $ 23.59 Exercised (920,468 ) $ 14.03 Outstanding at June 30, 2015 853,718 $ 24.90 5.6 $ 25.0 Exercisable at June 30, 2015 417,692 $ 18.05 4.3 $ 15.0 Options — Class C ordinary shares Number of shares Weighted average exercise price Weighted average remaining contractual term Aggregate intrinsic value in years in millions Outstanding at January 1, 2015 3,946,192 $ 17.67 Granted 622,301 $ 43.34 Cancelled (34,493 ) $ 22.23 Exercised (1,613,927 ) $ 14.99 Outstanding at June 30, 2015 2,920,073 $ 24.57 6.1 $ 76.3 Exercisable at June 30, 2015 1,377,436 $ 15.25 4.1 $ 48.7 SARs — Class A ordinary shares Number of shares Weighted average base price Weighted average remaining contractual term Aggregate intrinsic value in years in millions Outstanding at January 1, 2015 5,607,988 $ 31.07 Granted 2,252,602 $ 53.11 Forfeited (106,696 ) $ 37.27 Exercised (354,800 ) $ 25.68 Outstanding at June 30, 2015 7,399,094 $ 37.95 5.1 $ 119.3 Exercisable at June 30, 2015 2,815,909 $ 25.41 3.4 $ 80.7 SARs — Class C ordinary shares Number of shares Weighted average base price Weighted average remaining contractual term Aggregate intrinsic value in years in millions Outstanding at January 1, 2015 14,689,045 $ 28.49 Granted 4,505,204 $ 51.41 Forfeited (262,502 ) $ 34.80 Exercised (1,062,945 ) $ 23.48 Outstanding at June 30, 2015 17,868,802 $ 34.47 4.8 $ 292.2 Exercisable at June 30, 2015 7,907,213 $ 23.75 3.3 $ 212.5 PSARs — Class A ordinary shares Number of shares Weighted average base price Weighted average remaining contractual term Aggregate intrinsic value in years in millions Outstanding at January 1, 2015 2,788,749 $ 35.10 Forfeited (35,625 ) $ 35.03 Exercised (4,166 ) $ 35.03 Outstanding at June 30, 2015 2,748,958 $ 35.10 5.0 $ 52.1 Exercisable at June 30, 2015 7,708 $ 35.03 1.6 $ 0.1 PSARs — Class C ordinary shares Number of shares Weighted average base price Weighted average remaining contractual term Aggregate intrinsic value in years in millions Outstanding at January 1, 2015 8,366,248 $ 33.48 Forfeited (106,875 ) $ 33.41 Exercised (12,499 ) $ 33.41 Outstanding at June 30, 2015 8,246,874 $ 33.48 5.0 $ 141.4 Exercisable at June 30, 2015 23,124 $ 33.41 1.6 $ 0.4 RSUs — Class A ordinary shares Number of shares Weighted average grant-date fair value per share Weighted average remaining contractual term in years Outstanding at January 1, 2015 565,270 $ 38.27 Granted 298,713 $ 53.11 Forfeited (18,827 ) $ 37.52 Released from restrictions (299,372 ) $ 37.65 Outstanding at June 30, 2015 545,784 $ 46.76 3.3 RSUs — Class C ordinary shares Number of shares Weighted average grant-date fair value per share Weighted average remaining contractual term in years Outstanding at January 1, 2015 1,387,003 $ 35.59 Granted 597,426 $ 51.40 Forfeited (45,611 ) $ 34.70 Released from restrictions (553,929 ) $ 34.55 Outstanding at June 30, 2015 1,384,889 $ 42.85 3.7 PSUs and PGUs — Class A ordinary shares Number of shares Weighted average grant-date fair value per share Weighted average remaining contractual term in years Outstanding at January 1, 2015 1,989,693 $ 41.34 Granted 410,716 $ 52.82 Performance adjustment (a) 50,410 $ 37.31 Forfeited (22,619 ) $ 38.47 Released from restrictions (543,707 ) $ 41.12 Outstanding at June 30, 2015 1,884,493 $ 43.84 1.5 PGUs — Class B ordinary shares Number of shares Weighted average grant-date fair value per share Weighted average remaining contractual term in years Outstanding at January 1, 2015 1,000,000 $ 44.55 Released from restrictions (333,333 ) $ 44.55 Outstanding at June 30, 2015 666,667 $ 44.55 1.7 PSUs — Class C ordinary shares Number of shares Weighted average grant-date fair value per share Weighted average remaining contractual term in years Outstanding at January 1, 2015 2,442,767 $ 36.71 Granted 821,432 $ 51.12 Performance adjustment (a) 147,179 $ 34.80 Forfeited (58,997 ) $ 36.02 Released from restrictions (614,341 ) $ 34.80 Outstanding at June 30, 2015 2,738,040 $ 41.38 1.3 _______________ (a) Represents the increase in PSU s associated with the first quarter 2015 determination that 113.6% of the PSU s that were granted in 2013 (the 2013 PSU s ) had been earned. Half of the earned 2013 PSU s were released from restrictions on March 31, 2015 and, subject to forfeitures, the remainder will be released on September 30, 2015. |
Restructuring Liability
Restructuring Liability | 6 Months Ended |
Jun. 30, 2015 | |
Restructuring and Related Activities [Abstract] | |
Restructuring Liability | Restructuring Liability A summary of the changes in our restructuring liability during the six months ended June 30, 2015 is set forth in the table below: Employee severance and termination Office closures Contract termination and other Total in millions Restructuring liability as of January 1, 2015 $ 27.6 $ 12.5 $ 116.0 $ 156.1 Restructuring charges (credits) 26.7 (0.5 ) 5.1 31.3 Cash paid (30.7 ) (2.9 ) (14.6 ) (48.2 ) Foreign currency translation adjustments and other 0.1 2.2 (7.1 ) (4.8 ) Restructuring liability as of June 30, 2015 $ 23.7 $ 11.3 $ 99.4 $ 134.4 Current portion $ 23.6 $ 2.6 $ 15.9 $ 42.1 Noncurrent portion 0.1 8.7 83.5 92.3 Total $ 23.7 $ 11.3 $ 99.4 $ 134.4 Our restructuring charges (credits) during the six months ended June 30, 2015 include employee severance and termination costs related to certain reorganization and integration activities of $12.4 million in U.K./Ireland, $8.2 million in Switzerland/Austria, $2.4 million in Puerto Rico and $2.0 million in the Netherlands. 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 S
Earnings or Loss per Ordinary Share | 6 Months Ended |
Jun. 30, 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, SAR s, PSAR s, RSU s and convertible securities) as if they had been exercised, vested or converted at the beginning of the periods presented. The details of our net loss attributable to Liberty Global shareholders are set forth below: Three months ended Six months ended June 30, June 30, 2015 2014 2015 2014 in millions Amounts attributable to Liberty Global shareholders: Loss from continuing operations $ (464.7 ) $ (242.7 ) $ (1,002.2 ) $ (662.2 ) Earnings (loss) from discontinued operation — (7.2 ) — 333.5 Net loss attributable to Liberty Global shareholders $ (464.7 ) $ (249.9 ) $ (1,002.2 ) $ (328.7 ) We reported losses from continuing operations attributable to Liberty Global shareholders for the three and six months ended June 30, 2015 and 2014 . Therefore, the potentially dilutive effect at June 30, 2015 and 2014 of (i) the aggregate number of shares issuable pursuant to outstanding options, SAR s, PSAR s and RSU s of approximately 42.0 million and 43.5 million , respectively, (ii) the number of shares issuable pursuant to PSU s and PGUs of approximately 5.3 million and 6.0 million , respectively, and (iii) the aggregate number of shares issuable pursuant to obligations that may be settled in cash or shares of approximately 2.6 million and 2.6 million , respectively, were not included in the computation of diluted loss per share attributable to Liberty Global shareholders because their inclusion would have been anti-dilutive to the computation or, in the case of certain PSU s, because such awards had not yet met the applicable performance criteria. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 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 June 30, 2015 are presented below: Payments due during: Remainder of 2015 2016 2017 2018 2019 2020 Thereafter Total in millions Programming commitments $ 519.2 $ 977.6 $ 880.3 $ 701.3 $ 263.7 $ 5.5 $ 2.4 $ 3,350.0 Network and connectivity commitments 190.7 265.6 239.3 124.5 86.9 62.8 907.0 1,876.8 Purchase commitments 797.0 157.7 70.3 12.2 4.3 — — 1,041.5 Operating leases 88.8 152.5 128.3 110.3 89.8 56.3 293.9 919.9 Other commitments 209.9 190.4 146.5 89.8 45.1 22.4 27.6 731.7 Total (a) $ 1,805.6 $ 1,743.8 $ 1,464.7 $ 1,038.1 $ 489.8 $ 147.0 $ 1,230.9 $ 7,919.9 _______________ (a) The commitments reflected in this table do not reflect any liabilities that are included in our June 30, 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 six months ended June 30, 2015 and 2014 , the third-party programming and copyright costs incurred by our broadband communications and direct-to-home ( DTH ) operations aggregated $1,123.3 million (including $1,001.6 million for the Liberty Global Group and $121.7 million for the LiLAC Group ) and $1,056.5 million (including $938.9 million for the Liberty Global Group and $117.6 million for the LiLAC Group ), 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 note 3 . 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 six months ended June 30, 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 , Proximus NV/SA, formerly known as Belgacom ( Proximus ), 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 Proximus in the summary proceedings, which ruling was overturned by the Court of Appeal of Antwerp in June 2008 . Proximus 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 Proximus ’s request for the rescission of the agreement-in-principle and the 2008 PICs Agreement . On June 12, 2009 , Proximus appealed this judgment with the Court of Appeal of Antwerp. In this appeal, Proximus 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 Proximus . In parallel with the above proceedings, Proximus 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, Proximus ’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 . Proximus ’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 Proximus 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. Proximus 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 Proximus 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 ( $22.3 million ). In light of the fact that Proximus 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 ( $85 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 ( $1,053 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 Proximus ), (ii) an obligation to grant third-party operators (except Proximus ) 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 Proximus ). 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, Proximus 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 Proximus 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. During 2015, the Belgium Regulatory Authorities proposed that the basis for calculating the “retail minus” tariffs will be further reduced, which would lead to significantly lower “retail minus” tariffs. Following consultations regarding such proposals, the draft decision will then be sent for review to the European Commission. A final decision is not expected before September 30, 2015. 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 Proximus ’s claim that Proximus 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 ( $204.7 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 £43.3 million ( $68.1 million ) as of June 30, 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 not 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. This change, which took effect on May 1, 2014, resulted in a $24.0 million decrease to Virgin Media ’s revenue during the first half of 2015 , as compared to the corresponding period in 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 ( $102 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. Telenet MVNO Matter. Telenet and Mobistar are currently in dispute over amounts payable to Mobistar with respect to certain provisions of Telenet ’s MVNO agreement with Mobistar (the Mobistar MVNO Agreement ). As part of this dispute, Mobistar initiated legal proceedings against Telenet claiming, among other things, that the migration period after termination or expiration of the Mobistar MVNO Agreement should be shortened from 24 months to six months . Telenet believes it has strong arguments against Mobistar ’s claims and intends to defend itself vigorously. We cannot currently predict the outcome of these proceedings; however, in the unlikely event that the migration period is shortened, Telenet ’s mobile business could be adversely impacted. 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 third quarter 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. 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 | 6 Months Ended |
Jun. 30, 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, Adjusted OIBDA (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 Adjusted OIBDA . In addition, we review non-financial measures such as subscriber growth, as appropriate. Adjusted operating income before depreciation and amortization ( Adjusted OIBDA ) is the primary measure used by our chief operating decision maker to evaluate segment operating performance. Adjusted OIBDA 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, Adjusted OIBDA is defined as operating income before depreciation and amortization, share-based compensation, 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 Adjusted OIBDA 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 Adjusted OIBDA 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. Adjusted OIBDA 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 Adjusted OIBDA 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. During the second quarter of 2015, in anticipation of the issuance of the LiLAC Ordinary Shares , we began presenting our operating segment in Puerto Rico as a separate reportable segment. 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,” (c) our UPC DTH operating segment was included in the European Operations Division ’s central and other category and (d) our operating segment in Puerto Rico was included in our corporate 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 June 30, 2015 , our reportable segments are as follows: • European Operations Division : • U.K./Ireland • The Netherlands • Germany • Belgium • Switzerland/Austria • Central and Eastern Europe • LiLAC Division: • Chile • Puerto Rico 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 and mobile services. At June 30, 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 . The corporate and other category for the Liberty Global Group includes less significant consolidated operating segments that provide programming and other services. Intersegment eliminations primarily represent the elimination of intercompany transactions between our broadband communications and programming operations. Inter-group eliminations primarily represent the elimination of intercompany transactions between the Liberty Global Group and the LiLAC Group . Performance Measures of Our Reportable Segments The amounts presented below represent 100% of each of our reportable segment’s revenue and Adjusted OIBDA . 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 June 30, Six months ended June 30, 2015 2014 2015 2014 in millions Liberty Global Group: European Operations Division: U.K./Ireland $ 1,759.6 $ 1,896.7 $ 3,471.0 $ 3,744.2 The Netherlands (a) 683.9 316.3 1,391.3 634.4 Germany 591.0 688.8 1,188.9 1,384.7 Belgium 500.3 582.4 1,003.0 1,156.6 Switzerland/Austria 448.8 476.7 888.1 940.5 Total Western Europe 3,983.6 3,960.9 7,942.3 7,860.4 Central and Eastern Europe 267.2 324.5 535.4 648.4 Central and other (1.0 ) (1.2 ) (3.8 ) (2.0 ) Total European Operations Division 4,249.8 4,284.2 8,473.9 8,506.8 Corporate and other 12.8 17.6 25.6 36.0 Intersegment eliminations (b) (7.5 ) (6.0 ) (15.3 ) (13.2 ) Total Liberty Global Group 4,255.1 4,295.8 8,484.2 8,529.6 LiLAC Group: Chile 220.8 229.8 429.6 455.1 Puerto Rico (c) 90.6 76.6 169.6 151.3 Total LiLAC Group 311.4 306.4 599.2 606.4 Inter-group eliminations — — — (0.1 ) Total $ 4,566.5 $ 4,602.2 $ 9,083.4 $ 9,135.9 ______________ (a) The amounts presented for the 2014 periods exclude 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 programming operations. (c) The amounts presented for the 2015 periods include the post-acquisition revenue of Choice , which was acquired on June 3, 2015 . Adjusted OIBDA Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 in millions Liberty Global Group: European Operations Division: U.K./Ireland $ 805.6 $ 829.5 $ 1,568.9 $ 1,621.1 The Netherlands (a) 371.0 185.1 738.9 368.4 Germany 366.9 431.0 730.9 860.0 Belgium 260.8 287.9 507.8 590.0 Switzerland/Austria 259.7 277.4 508.5 541.8 Total Western Europe 2,064.0 2,010.9 4,055.0 3,981.3 Central and Eastern Europe 118.4 147.2 236.5 305.4 Central and other (72.7 ) (71.9 ) (140.6 ) (142.8 ) Total European Operations Division 2,109.7 2,086.2 4,150.9 4,143.9 Corporate and other (52.3 ) (59.6 ) (104.4 ) (105.1 ) Intersegment eliminations (b) — — — 4.0 Total Liberty Global Group 2,057.4 2,026.6 4,046.5 4,042.8 LiLAC Group: LiLAC Division: Chile 87.6 85.8 163.6 168.5 Puerto Rico (c) 40.8 33.4 74.3 62.7 Total LiLAC Division 128.4 119.2 237.9 231.2 Corporate and other (0.8 ) (0.9 ) (2.1 ) (1.6 ) Total LiLAC Group 127.6 118.3 235.8 229.6 Total $ 2,185.0 $ 2,144.9 $ 4,282.3 $ 4,272.4 ______________ (a) The amounts presented for the 2014 periods exclude the Adjusted OIBDA of Ziggo , which was acquired on November 11, 2014. (b) The amount for the six months ended June 30, 2014 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. (c) The amounts presented for the 2015 periods include the post-acquisition Adjusted OIBDA of Choice , which was acquired on June 3, 2015 . The following table provides a reconciliation of total segment Adjusted OIBDA from continuing operations to loss from continuing operations before income taxes: Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 in millions Total segment Adjusted OIBDA from continuing operations $ 2,185.0 $ 2,144.9 $ 4,282.3 $ 4,272.4 Share-based compensation (56.6 ) (54.4 ) (128.0 ) (109.5 ) Depreciation and amortization (1,477.8 ) (1,393.4 ) (2,929.2 ) (2,770.5 ) Impairment, restructuring and other operating items, net (25.7 ) (27.6 ) (42.7 ) (141.2 ) Operating income 624.9 669.5 1,182.4 1,251.2 Interest expense (600.8 ) (641.8 ) (1,216.7 ) (1,295.3 ) Realized and unrealized losses on derivative instruments, net (679.7 ) (328.6 ) (61.2 ) (705.2 ) Foreign currency transaction gains (losses), net 340.4 (36.4 ) (695.2 ) (57.2 ) Realized and unrealized gains due to changes in fair values of certain investments, net 110.8 157.4 262.2 97.2 Losses on debt modification and extinguishment, net (73.8 ) (53.0 ) (348.3 ) (73.9 ) Other income (expense), net (1.7 ) (1.7 ) (2.7 ) 11.6 Loss from continuing operations before income taxes $ (279.9 ) $ (234.6 ) $ (879.5 ) $ (771.6 ) 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 . Six months ended June 30, 2015 2014 in millions Liberty Global Group: European Operations Division: U.K./Ireland $ 723.2 $ 739.6 The Netherlands (a) 251.9 109.4 Germany 268.1 280.8 Belgium 139.9 211.7 Switzerland/Austria 139.3 158.7 Total Western Europe 1,522.4 1,500.2 Central and Eastern Europe 113.3 106.7 Central and other 162.2 135.7 Total European Operations Division 1,797.9 1,742.6 Corporate and other 41.7 3.9 Total Liberty Global Group 1,839.6 1,746.5 LiLAC Group: Chile 89.6 101.3 Puerto Rico (b) 36.3 33.2 Total LiLAC Group 125.9 134.5 Total property and equipment additions 1,965.5 1,881.0 Assets acquired under capital-related vendor financing arrangements (675.9 ) (401.8 ) Assets acquired under capital leases (74.5 ) (89.8 ) Changes in current liabilities related to capital expenditures 47.3 12.6 Total capital expenditures $ 1,262.4 $ 1,402.0 ______________ (a) The amount presented for the 2014 period excludes the property and equipment additions of Ziggo , which was acquired on November 11, 2014. (b) The amount presented for the 2015 period includes the post-acquisition property and equipment additions of Choice , which was acquired on June 3, 2015 . Revenue by Major Category Our revenue by major category is set forth below: Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 in millions Subscription revenue (a): Video $ 1,607.9 $ 1,663.5 $ 3,217.3 $ 3,305.0 Broadband internet 1,276.7 1,190.6 2,515.9 2,334.5 Fixed-line telephony 801.4 833.0 1,601.1 1,659.4 Cable subscription revenue 3,686.0 3,687.1 7,334.3 7,298.9 Mobile subscription revenue (b) 261.2 273.1 512.9 530.4 Total subscription revenue 3,947.2 3,960.2 7,847.2 7,829.3 B2B revenue (c) 380.5 372.0 754.4 739.0 Other revenue (b) (d) 238.8 270.0 481.8 567.6 Total $ 4,566.5 $ 4,602.2 $ 9,083.4 $ 9,135.9 _______________ (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 $53.1 million and $63.0 million during the three months ended June 30, 2015 and 2014 , respectively, and $107.5 million and $123.8 million during the six months ended June 30, 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, mobile 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 $71.9 million and $55.2 million during the three months ended June 30, 2015 and 2014 , respectively, and $138.5 million and $107.2 million during the six months ended June 30, 2015 and 2014 , respectively, is included in cable subscription revenue. (d) Other revenue includes, among other items, interconnect, mobile handset sales, carriage fee and installation revenue . Geographic Segments The revenue of our geographic segments is set forth below: Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 in millions Liberty Global Group: European Operations Division: U.K. $ 1,662.4 $ 1,774.6 $ 3,274.4 $ 3,502.5 The Netherlands (a) 683.9 316.3 1,391.3 634.4 Germany 591.0 688.8 1,188.9 1,384.7 Belgium 500.3 582.4 1,003.0 1,156.6 Switzerland 357.3 365.3 704.1 718.1 Poland 101.2 121.2 202.2 241.7 Ireland 97.2 122.1 196.6 241.7 Austria 91.5 111.4 184.0 222.4 Hungary 65.2 80.6 130.2 159.3 The Czech Republic 43.8 57.5 88.2 116.3 Romania 38.7 43.5 77.6 87.0 Slovakia 14.8 19.6 30.0 38.8 Other 2.5 0.9 3.4 3.3 Total European Operations Division 4,249.8 4,284.2 8,473.9 8,506.8 Other, including intersegment eliminations 5.3 11.6 10.3 22.8 Total Liberty Global Group 4,255.1 4,295.8 8,484.2 8,529.6 LiLAC Group: Chile 220.8 229.8 429.6 455.1 Puerto Rico (b) 90.6 76.6 169.6 151.3 Total LiLAC Group 311.4 306.4 599.2 606.4 Inter-group eliminations — — — (0.1 ) Total $ 4,566.5 $ 4,602.2 $ 9,083.4 $ 9,135.9 ______________ (a) The amounts presented for the 2014 periods exclude the revenue of Ziggo , which was acquired on November 11, 2014. (b) The amounts presented for the 2015 periods include the post-acquisition revenue of Choice , which was acquired on June 3, 2015 . |
Subsequent Event
Subsequent Event | 6 Months Ended |
Jun. 30, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Event Telenet Refinancing Transaction Telenet Finance VI Luxembourg S.C.A. ( Telenet Finance VI ), a special purpose financing entity that is owned 100% by certain third parties, was created for the primary purposes of facilitating the July 24, 2015 offering of €530.0 million ( $591.1 million ) principal amount of 4.875% senior secured notes due July 15, 2027 (the Telenet Finance VI Notes ). The Telenet Finance VI Notes were issued at 98.885% of par. Telenet Finance VI , which has no material business operations, used the proceeds from the Telenet Finance VI Notes to fund a new additional facility ( Telenet Facility AB ) under the Telenet Credit Facility . The net proceeds from Telenet Facility AB will be used to prepay the full principal amount of Telenet Facility M under the Telenet Credit Facility , together with accrued and unpaid interest and the related prepayment premium, to Telenet Finance Luxembourg S.C.A. ( Telenet Finance ) and, in turn Telenet Finance will use such proceeds to fully redeem the €500.0 million ( $557.7 million ) outstanding principal amount of its 6.375% senior secured notes. Telenet Finance VI is dependent on payments from Telenet International under Telenet Facility AB of the Telenet Credit Facility in order to service its payment obligations under the Telenet Finance VI Notes . Although Telenet International has no equity or voting interest in Telenet Finance VI , the Telenet Facility AB loan creates a variable interest in Telenet Finance VI for which Telenet International is the primary beneficiary, as contemplated by GAAP . As such, Telenet International and its parent entities, including Telenet and Liberty Global , are required by the provisions of GAAP to consolidate Telenet Finance VI . Accordingly, the amount outstanding under Telenet Facility AB will be eliminated in Liberty Global ’s consolidated financial statements. Pursuant to the respective indenture for the Telenet Finance VI Notes (the Telenet SPE Indenture ) and the respective accession agreement for Telenet Facility AB , the call provisions, maturity and applicable interest rate for Telenet Facility AB are the same as those of the related notes. Telenet Finance VI , as a lender under the Telenet Credit Facility , is treated the same as the other lenders under the Telenet Credit Facility , with benefits, rights and protections similar to those afforded to the other lenders. Through the covenants in the Telenet SPE Indenture and the applicable security interests over (i) all of the issued shares of Telenet Finance VI and (ii) Telenet Finance VI ’s rights under Telenet Facility AB granted to secure the obligations of Telenet Finance VI under Telenet Facility AB , the holders of the Telenet Finance VI Notes are provided indirectly with the benefits, rights, protections and covenants, granted to Telenet Finance VI as a lender under the Telenet Credit Facility . Telenet Finance VI is prohibited from incurring any additional indebtedness, subject to certain exceptions, under the Telenet SPE Indenture . Subject to the circumstances described below, the Telenet Finance VI Notes are non-callable until July 15, 2021 (the Telenet SPE Notes Call Date ). If, however, at any time prior to the Telenet SPE Notes Call Date , all or a portion of the loan under Telenet Facility AB is voluntarily prepaid (a Telenet Early Redemption Event ), then Telenet Finance VI will be required to redeem an aggregate principal amount of the Telenet Finance VI Notes equal to the aggregate principal amount of the loan so prepaid under Telenet Facility AB . In general, the redemption price payable will equal 100% of the principal amount of the Telenet Finance VI Notes to be redeemed and a “make-whole” premium, which is the present value of all remaining scheduled interest payments to the Telenet SPE 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 Telenet Early Redemption Event on or after the Telenet SPE Notes Call Date , Telenet Finance VI will redeem an aggregate principal amount of the Telenet Finance VI Notes equal to the principal amount of Telenet Facility AB 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 July 15 of the years set forth below: Redemption price Year Telenet Finance VI Notes 2021 102.438% 2022 101.219% 2023 100.609% 2024 and thereafter 100.000% Prior to the Telenet SPE Notes Call Date , during each 12 -month period commencing on the date on which the Telenet Finance VI Notes were issued, Telenet Finance VI may redeem up to 10% of the principal amount of the Telenet Finance VI Notes at a redemption price of 103% of the principal amount of the relevant Telenet Finance VI Notes plus accrued and unpaid interest up to (but excluding) the redemption date. If there is a change in control (as specified in the indenture) under the Telenet Credit Facility , Telenet Finance VI must offer to repurchase the Telenet Finance VI Notes at a redemption price of 101% . |
Acquisitions (Tables)
Acquisitions (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Choice Acquisition [Member] | |
Business Acquisition [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | Although most items in the valuation process remain open, the items with the highest likelihood of changing upon finalization of the valuation process include property and equipment, goodwill, intangible assets associated with franchise rights and customer relationships and income taxes (in millions): Cash and cash equivalents $ 3.6 Other current assets 7.8 Property and equipment, net 80.4 Goodwill (a) 51.5 Intangible assets subject to amortization (b) 58.9 Franchise rights 147.6 Other assets, net 0.3 Other accrued and current liabilities (13.2 ) Non-current deferred tax liabilities (60.8 ) Total purchase price (c) $ 276.1 _______________ (a) The goodwill recognized in connection with the Choice Acquisition is primarily attributable to (i) the ability to take advantage of Choice ’s existing advanced broadband communications network to gain immediate access to potential customers and (ii) substantial synergies that are expected to be achieved through the integration of Choice with Liberty Puerto Rico . The entire amount of goodwill is expected to be deductible for U.S. tax purposes. (b) Amount primarily includes intangible assets related to customer relationships. As of June 3, 2015 , the weighted average useful life of Choice ’s intangible assets was approximately ten years . (c) Excludes direct acquisition costs of $8.3 million , which are included in impairment, restructuring and other operating items, net, in our condensed consolidated statements of operations. |
Ziggo and Choice 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 Six months ended June 30, June 30, 2015 2014 2015 2014 in millions, except per share amounts Revenue: Liberty Global Group: Continuing operations $ 4,255.1 $ 4,847.7 $ 8,484.2 $ 9,617.1 Discontinued operation — — — 26.6 Total - Liberty Global Group 4,255.1 4,847.7 8,484.2 9,643.7 LiLAC Group 326.4 328.1 636.3 649.7 Intergroup eliminations — — — (0.1 ) Total $ 4,581.5 $ 5,175.8 $ 9,120.5 $ 10,293.3 Net loss attributable to Liberty Global shareholders: Liberty Global Group $ (457.3 ) $ (452.0 ) $ (1,025.4 ) $ (603.3 ) LiLAC Group (7.5 ) 7.6 25.0 (59.3 ) Total $ (464.8 ) $ (444.4 ) $ (1,000.4 ) $ (662.6 ) Basic and diluted loss attributable to Liberty Global shareholders per share $ (0.53 ) $ (0.49 ) $ (1.13 ) $ (0.73 ) |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 6 Months Ended |
Jun. 30, 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: June 30, 2015 December 31, 2014 Current Long-term (a) Total Current Long-term (a) Total in millions Assets: Cross-currency and interest rate derivative contracts: Liberty Global Group $ 187.8 $ 1,239.5 $ 1,427.3 $ 443.6 $ 812.5 $ 1,256.1 LiLAC Group — 189.4 189.4 — 101.2 101.2 Total cross-currency and interest rate derivative contracts (b) 187.8 1,428.9 1,616.7 443.6 913.7 1,357.3 Equity-related derivative instruments - Liberty Global Group (c) 54.1 280.6 334.7 — 400.2 400.2 Foreign currency forward contracts: Liberty Global Group 1.6 — 1.6 1.4 — 1.4 LiLAC Group 3.3 — 3.3 1.1 — 1.1 Total foreign currency forward contracts 4.9 — 4.9 2.5 — 2.5 Other - Liberty Global Group 1.5 1.0 2.5 0.5 0.9 1.4 Total assets: Liberty Global Group 245.0 1,521.1 1,766.1 445.5 1,213.6 1,659.1 LiLAC Group 3.3 189.4 192.7 1.1 101.2 102.3 Total $ 248.3 $ 1,710.5 $ 1,958.8 $ 446.6 $ 1,314.8 $ 1,761.4 June 30, 2015 December 31, 2014 Current Long-term (a) Total Current Long-term (a) Total in millions Liabilities: Cross-currency and interest rate derivative contracts: Liberty Global Group $ 309.8 $ 1,636.5 $ 1,946.3 $ 987.9 $ 1,443.9 $ 2,431.8 LiLAC Group 32.6 3.0 35.6 39.5 — 39.5 Total cross-currency and interest rate derivative contracts (b) 342.4 1,639.5 1,981.9 1,027.4 1,443.9 2,471.3 Equity-related derivative instruments - Liberty Global Group (c) 33.4 231.9 265.3 15.3 73.1 88.4 Foreign currency forward contracts: Liberty Global Group 9.3 — 9.3 0.6 — 0.6 LiLAC Group — — — 0.2 — 0.2 Total foreign currency forward contracts 9.3 — 9.3 0.8 — 0.8 Other - Liberty Global Group 0.1 0.1 0.2 0.2 0.1 0.3 Total liabilities: Liberty Global Group 352.6 1,868.5 2,221.1 1,004.0 1,517.1 2,521.1 LiLAC Group 32.6 3.0 35.6 39.7 — 39.7 Total $ 385.2 $ 1,871.5 $ 2,256.7 $ 1,043.7 $ 1,517.1 $ 2,560.8 _______________ (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 June 30, 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 $63.3 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 $155.4 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 a net gain (loss) of $77.2 million and ( $19.4 million ) during the three months ended June 30, 2015 and 2014 , respectively, and a net gain (loss) of $60.3 million and ( $48.9 million ) during the six months ended June 30, 2015 and 2014 , respectively. These amounts are included in realized and unrealized 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 primarily 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 June 30, 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 losses on derivative instruments, net, are as follows: Three months ended Six months ended June 30, June 30, 2015 2014 2015 2014 in millions Cross-currency and interest rate derivative contracts: Liberty Global Group $ (547.7 ) $ (287.6 ) $ 114.6 $ (580.3 ) LiLAC Group (0.6 ) 1.9 77.6 (125.6 ) Total cross-currency and interest rate derivative contracts (548.3 ) (285.7 ) 192.2 (705.9 ) Equity-related derivative instruments - Liberty Global Group: ITV Collar (53.5 ) — (158.9 ) — Sumitomo Collar (61.8 ) (23.8 ) (71.9 ) (15.3 ) Ziggo Collar — (21.3 ) — (5.9 ) Other 0.5 0.7 1.1 0.9 Total equity-related derivative instruments (114.8 ) (44.4 ) (229.7 ) (20.3 ) Foreign currency forward contracts: Liberty Global Group (18.1 ) 0.5 (27.4 ) 19.6 LiLAC Group 1.8 (0.1 ) 3.0 0.8 Total foreign currency forward contracts (16.3 ) 0.4 (24.4 ) 20.4 Other - Liberty Global Group (0.3 ) 1.1 0.7 0.6 Total Liberty Global Group (680.9 ) (330.4 ) (141.8 ) (580.4 ) Total LiLAC Group 1.2 1.8 80.6 (124.8 ) Total $ (679.7 ) $ (328.6 ) $ (61.2 ) $ (705.2 ) |
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 foreign currency forward contracts that are used to hedge capital expenditures, the net cash received or paid is classified as an adjustment to capital expenditures in our condensed consolidated statements of 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 outflows is as follows: Six months ended June 30, 2015 2014 in millions Operating activities: Liberty Global Group $ (161.3 ) $ (252.1 ) LiLAC Group (17.7 ) 3.6 Total operating activities (179.0 ) (248.5 ) Investing activities - LiLAC Group (0.4 ) — Financing activities: Liberty Global Group (303.3 ) (140.2 ) LiLAC Group — (37.4 ) Total financing activities (303.3 ) (177.6 ) Total cash outflows: Liberty Global Group (464.6 ) (392.3 ) LiLAC Group (18.1 ) (33.8 ) Total $ (482.7 ) $ (426.1 ) |
Cross-currency and interest rate derivative contracts | |
Derivative [Line Items] | |
Schedule of Derivative Instruments | The terms of our outstanding cross-currency swap contracts at June 30, 2015 are as follows: Subsidiary / F inal maturity date Notional amount due from counterparty Notional amount due to counterparty Interest rate due from counterparty Interest rate due to counterparty in millions Virgin Media Investment Holdings Limited ( VMIH ), a subsidiary of Virgin Media: January 2023 $ 400.0 € 339.6 5.75% 4.33% June 2023 $ 1,855.0 £ 1,198.3 6 mo. LIBOR + 2.75% 6 mo. GBP LIBOR + 3.18% February 2022 $ 1,400.0 £ 873.6 5.01% 5.49% January 2023 $ 1,000.0 £ 648.6 5.25% 5.32% January 2021 $ 500.0 £ 308.9 5.25% 6 mo. GBP LIBOR + 2.06% October 2022 $ 450.0 £ 272.0 6.00% 6.43% January 2022 $ 425.0 £ 255.8 5.50% 5.82% April 2019 $ 191.5 £ 122.3 5.38% 5.49% November 2016 (a) $ 55.0 £ 27.7 6.50% 7.03% October 2019 $ 50.0 £ 30.3 8.38% 8.98% October 2019 - October 2022 $ 50.0 £ 30.7 6.00% 5.75% UPC Broadband Holding BV ( UPC Broadband Holding ), a subsidiary of UPC Holding: January 2023 $ 1,140.0 € 1,043.7 5.38% 3.71% July 2021 $ 440.0 € 337.2 6 mo. LIBOR + 2.50% 6 mo. EURIBOR + 2.87% January 2017 - July 2021 $ 262.1 € 194.1 6 mo. LIBOR + 2.50% 6 mo. EURIBOR + 2.51% January 2020 $ 252.5 € 192.5 6 mo. LIBOR + 4.93% 7.49% November 2019 $ 250.0 € 181.5 7.25% 7.74% November 2021 $ 250.0 € 181.4 7.25% 7.50% October 2020 $ 125.0 € 91.3 6 mo. LIBOR + 3.00% 6 mo. EURIBOR + 3.04% January 2020 $ 122.5 € 93.4 6 mo. LIBOR + 4.94% 6 mo. EURIBOR + 4.87% December 2016 $ 340.0 CHF 370.9 6 mo. LIBOR + 3.50% 6 mo. CHF LIBOR + 4.01% July 2016 - January 2020 $ 225.0 CHF 206.3 6 mo. LIBOR + 4.81% 5.44% July 2016 (a) $ 225.0 CHF 206.3 6 mo. LIBOR + 4.81% 1.00% July 2021 $ 200.0 CHF 186.0 6 mo. LIBOR + 2.50% 6 mo. CHF LIBOR + 2.55% January 2017 - July 2023 $ 200.0 CHF 185.5 6 mo. LIBOR + 2.50% 6 mo. CHF LIBOR + 2.48% November 2019 $ 175.0 CHF 158.7 7.25% 6 mo. CHF LIBOR + 5.01% January 2017 - July 2021 $ 100.0 CHF 92.8 6 mo. LIBOR + 2.50% 6 mo. CHF LIBOR + 2.49% Subsidiary / F inal maturity date Notional amount due from counterparty Notional amount due to counterparty Interest rate due from counterparty Interest rate due to counterparty in millions 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% January 2021 € 720.8 CHF 877.0 6 mo. EURIBOR + 2.50% 6 mo. CHF LIBOR + 2.62% January 2017 - September 2022 € 383.8 CHF 477.0 6 mo. EURIBOR + 2.00% 6 mo. CHF LIBOR + 2.22% January 2017 € 360.4 CHF 589.0 6 mo. EURIBOR + 3.75% 6 mo. CHF LIBOR + 3.94% April 2018 € 285.1 CHF 346.7 10.51% 9.87% January 2020 € 175.0 CHF 258.6 7.63% 6.76% July 2020 € 107.4 CHF 129.0 6 mo. EURIBOR + 3.00% 6 mo. CHF LIBOR + 3.28% July 2023 € 85.3 CHF 95.0 6 mo. EURIBOR + 2.21% 6 mo. CHF LIBOR + 2.65% July 2021 € 76.1 CHF 92.1 6 mo. EURIBOR + 2.50% 6 mo. CHF LIBOR + 2.88% January 2017 € 75.0 CHF 110.9 7.63% 6.98% December 2015 € 69.1 CLP 53,000.0 3.50% 5.75% January 2020 € 318.9 CZK 8,818.7 5.58% 5.44% January 2017 € 60.0 CZK 1,703.1 5.50% 6.99% July 2017 € 39.6 CZK 1,000.0 3.00% 3.75% July 2016 (a) € 260.0 HUF 75,570.0 5.50% 5.00% July 2016 - January 2017 € 260.0 HUF 75,570.0 5.50% 10.56% December 2016 € 150.0 HUF 43,367.5 5.50% 2.00% July 2018 € 78.0 HUF 19,500.0 5.50% 9.15% January 2017 € 245.0 PLN 1,000.6 5.50% 9.03% September 2016 € 200.0 PLN 892.7 6.00% 3.91% January 2020 € 144.6 PLN 605.0 5.50% 7.98% July 2017 € 82.0 PLN 318.0 3.00% 5.60% December 2015 CLP 53,000.0 € 69.1 5.75% 3.50% Amsterdamse Beheer-en Consultingmaatschappij BV ( ABC B.V. ), a subsidiary of Ziggo Group Holding: January 2022 $ 2,350.0 € 1,727.0 6 mo. LIBOR + 2.75% 4.56% January 2023 $ 400.0 € 339.0 5.88% 4.58% Unitymedia Hessen GmbH & Co. KG ( Unitymedia Hessen ), a subsidiary of Unitymedia: January 2023 $ 1,652.9 € 1,252.5 5.67% 4.50% January 2021 $ 797.1 € 546.5 5.50% 5.60% VTR: January 2022 $ 1,400.0 CLP 760,340.0 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 June 30, 2015 are as follows: Subsidiary / Final maturity date Notional amount Interest rate due from counterparty Interest rate due to counterparty in millions VMIH: October 2018 £ 2,155.0 6 mo. GBP LIBOR 1.52% October 2018 - June 2023 £ 1,200.0 6 mo. GBP LIBOR 2.49% January 2021 £ 650.0 5.50% 6 mo. GBP LIBOR + 1.84% January 2021 £ 650.0 6 mo. GBP LIBOR + 1.84% 3.87% December 2015 £ 600.0 6 mo. GBP LIBOR 2.90% April 2018 £ 300.0 6 mo. GBP LIBOR 1.37% UPC Broadband Holding: January 2022 $ 675.0 6.88% 6 mo. LIBOR + 4.90% July 2020 € 750.0 6.38% 6 mo. EURIBOR + 3.16% July 2016 € 503.4 6 mo. EURIBOR 0.20% July 2016 - January 2021 € 250.0 6 mo. EURIBOR 2.52% July 2016 - January 2023 € 210.0 6 mo. EURIBOR 2.88% November 2021 € 107.0 6 mo. EURIBOR 2.89% July 2016 - July 2020 € 43.4 6 mo. EURIBOR 3.95% July 2016 CHF 900.0 6 mo. CHF LIBOR 0.05% January 2022 CHF 711.5 6 mo. CHF LIBOR 1.89% July 2016 - January 2021 CHF 500.0 6 mo. CHF LIBOR 1.65% July 2016 - January 2018 CHF 400.0 6 mo. CHF LIBOR 2.51% December 2016 CHF 370.9 6 mo. CHF LIBOR 3.82% November 2019 CHF 226.8 6 mo. CHF LIBOR + 5.01% 6.88% ABC B.V.: January 2022 € 1,566.0 6 mo. EURIBOR 1.66% January 2016 € 689.0 1 mo. EURIBOR + 3.75% 6 mo. EURIBOR + 3.59% January 2021 € 500.0 6 mo. EURIBOR 2.60% July 2016 € 290.0 6 mo. EURIBOR 0.20% July 2016 - January 2023 € 290.0 6 mo. EURIBOR 2.84% March 2021 € 175.0 6 mo. EURIBOR 2.32% July 2016 € 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: June 2023 € 500.0 3 mo. EURIBOR 1.45% Subsidiary / Final maturity date Notional amount Interest rate due from counterparty Interest rate due to counterparty in millions July 2017 - June 2022 € 420.0 3 mo. EURIBOR 2.08% June 2021 € 400.0 3 mo. EURIBOR 0.41% July 2017 - June 2023 € 382.0 3 mo. EURIBOR 1.89% July 2017 € 150.0 3 mo. EURIBOR 3.55% August 2015 - June 2022 € 55.0 3 mo. EURIBOR 1.81% Liberty Puerto Rico: October 2016 - January 2022 $ 506.3 3 mo. LIBOR 2.49% October 2016 - January 2019 $ 168.8 3 mo. LIBOR 1.96% |
Interest Rate Cap [Member] | |
Derivative [Line Items] | |
Schedule of Derivative Instruments | Our purchased and sold interest rate cap contracts with respect to EURIBOR at June 30, 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: January 2020 € 735.0 7.00% Telenet International: June 2017 € 50.0 4.50% Telenet NV, a subsidiary of Telenet: December 2017 € 0.5 6.50% December 2017 € 0.5 5.50% Interest rate cap sold (b): UPC Broadband Holding: January 2020 € 735.0 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 June 30, 2015 , as detailed below: Subsidiary / Final maturity date Notional amount EURIBOR floor rate (a) EURIBOR cap rate (b) in millions UPC Broadband Holding: January 2020 € 1,135.0 1.00% 3.54% Telenet International: July 2017 € 650.0 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 June 30, 2015 : Subsidiary Currency purchased forward Currency sold forward Maturity dates in millions LGE Financing $ 375.6 € 334.8 July 2015 - June 2016 UPC Broadband Holding $ 16.6 CZK 405.0 July 2015 - March 2016 UPC Broadband Holding € 50.5 CHF 58.3 July 2015 - March 2016 UPC Broadband Holding € 14.6 CZK 405.0 July 2015 - March 2016 UPC Broadband Holding € 14.4 HUF 4,500.0 July 2015 - March 2016 UPC Broadband Holding € 28.3 PLN 120.0 July 2015 - December 2015 UPC Broadband Holding € 27.0 RON 121.1 July 2015 - March 2016 UPC Broadband Holding £ 2.7 € 3.6 July 2015 - March 2016 UPC Broadband Holding CHF 35.5 € 34.0 July 2015 UPC Broadband Holding CZK 500.0 € 18.4 July 2015 UPC Broadband Holding HUF 6,000.0 € 19.2 July 2015 UPC Broadband Holding PLN 60.0 € 14.4 July 2015 UPC Broadband Holding RON 5.0 € 1.1 July 2015 Telenet NV $ 54.3 € 48.4 July 2015 - June 2016 VTR $ 84.1 CLP 52,149.9 July 2015 - May 2016 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 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 June 30, 2015 using: Description June 30, Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) in millions Assets: Derivative instruments: Cross-currency and interest rate derivative contracts $ 1,616.7 $ — $ 1,616.7 $ — Equity-related derivative instruments 334.7 — — 334.7 Foreign currency forward contracts 4.9 — 4.9 — Other 2.5 — 2.5 — Total derivative instruments 1,958.8 — 1,624.1 334.7 Investments 1,928.8 1,608.7 — 320.1 Total assets $ 3,887.6 $ 1,608.7 $ 1,624.1 $ 654.8 Liabilities - derivative instruments: Cross-currency and interest rate derivative contracts $ 1,981.9 $ — $ 1,981.9 $ — Equity-related derivative instruments 265.3 — — 265.3 Foreign currency forward contracts 9.3 — 9.3 — Other 0.2 — 0.2 — Total liabilities $ 2,256.7 $ — $ 1,991.4 $ 265.3 Fair value measurements at December 31, 2014 using: Description December 31, 2014 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) in millions Assets: Derivative instruments: Cross-currency and interest rate derivative contracts $ 1,357.3 $ — $ 1,357.3 $ — Equity-related derivative instruments 400.2 — — 400.2 Foreign currency forward contracts 2.5 — 2.5 — Other 1.4 — 1.4 — Total derivative instruments 1,761.4 — 1,361.2 400.2 Investments 1,662.7 1,344.3 — 318.4 Total assets $ 3,424.1 $ 1,344.3 $ 1,361.2 $ 718.6 Liabilities - derivative instruments: Cross-currency and interest rate derivative contracts $ 2,471.3 $ — $ 2,471.3 $ — Equity-related derivative instruments 88.4 — — 88.4 Foreign currency forward contracts 0.8 — 0.8 — Other 0.3 — 0.3 — Total liabilities $ 2,560.8 $ — $ 2,472.4 $ 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 derivative instruments Total in millions Balance of net assets at January 1, 2015 $ 318.4 $ 311.8 $ 630.2 Losses included in net loss (a): Realized and unrealized losses on derivative instruments, net — (229.7 ) (229.7 ) Realized and unrealized losses due to changes in fair values of certain investments, net (1.5 ) — (1.5 ) Foreign currency translation adjustments and other, net 3.2 (12.7 ) (9.5 ) Balance of net assets at June 30, 2015 $ 320.1 $ 69.4 $ 389.5 _______________ (a) Most of these net losses relate to assets and liabilities that we continue to carry on our condensed consolidated balance sheet as of June 30, 2015 . |
Long-lived Assets (Tables)
Long-lived Assets (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Long lived Assets | |
Schedule of PP&E | The details of our property and equipment and the related accumulated depreciation are set forth below: June 30, December 31, in millions Distribution systems: Liberty Global Group $ 24,784.6 $ 24,985.6 LiLAC Group 1,094.5 1,026.9 Total 25,879.1 26,012.5 Customer premises equipment: Liberty Global Group 5,643.6 5,437.3 LiLAC Group 809.2 776.6 Total 6,452.8 6,213.9 Support equipment, buildings and land: Liberty Global Group 4,197.8 3,953.3 LiLAC Group 349.1 345.1 Total 4,546.9 4,298.4 Total property and equipment, gross: Liberty Global Group 34,626.0 34,376.2 LiLAC Group 2,252.8 2,148.6 Total 36,878.8 36,524.8 Accumulated depreciation: Liberty Global Group (12,761.3 ) (11,360.2 ) LiLAC Group (1,356.4 ) (1,324.0 ) Total (14,117.7 ) (12,684.2 ) Total property and equipment, net: Liberty Global Group 21,864.7 23,016.0 LiLAC Group 896.4 824.6 Total $ 22,761.1 $ 23,840.6 |
Schedule of Changes in Carrying Amount of Goodwill | Changes in the carrying amount of our goodwill during the six months ended June 30, 2015 are set forth below: January 1, 2015 Acquisitions and related adjustments Foreign currency translation adjustments June 30, in millions Liberty Global Group: European Operations Division: U.K./Ireland $ 9,245.1 $ 0.4 $ 66.2 $ 9,311.7 The Netherlands 8,605.0 138.0 (687.9 ) 8,055.1 Germany 3,456.9 — (270.6 ) 3,186.3 Belgium 1,978.9 — (154.9 ) 1,824.0 Switzerland/Austria 3,591.9 — 122.1 3,714.0 Total Western Europe 26,877.8 138.4 (925.1 ) 26,091.1 Central and Eastern Europe 1,302.1 0.5 (85.7 ) 1,216.9 Total European Operations Division 28,179.9 138.9 (1,010.8 ) 27,308.0 Corporate and other 34.4 — 0.1 34.5 Total Liberty Global Group 28,214.3 138.9 (1,010.7 ) 27,342.5 LiLAC Group: LiLAC Division: Chile 440.3 — (22.3 ) 418.0 Puerto Rico 226.1 51.5 — 277.6 Total LiLAC Division 666.4 51.5 (22.3 ) 695.6 Corporate and other 120.9 — — 120.9 Total LiLAC Group 787.3 51.5 (22.3 ) 816.5 Total $ 29,001.6 $ 190.4 $ (1,033.0 ) $ 28,159.0 |
Schedule of Intangible Assets Subject to Amortization, Net | The details of our intangible assets subject to amortization are set forth below: June 30, 2015 December 31, 2014 Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount in millions Customer relationships: Liberty Global Group $ 11,375.4 $ (3,586.5 ) $ 7,788.9 $ 12,052.5 $ (3,037.0 ) $ 9,015.5 LiLAC Group 148.8 (24.3 ) 124.5 90.0 (19.3 ) 70.7 Total 11,524.2 (3,610.8 ) 7,913.4 12,142.5 (3,056.3 ) 9,086.2 Other: Liberty Global Group 206.5 (120.5 ) 86.0 234.8 (131.2 ) 103.6 LiLAC Group 0.2 (0.1 ) 0.1 0.6 (0.6 ) — Total 206.7 (120.6 ) 86.1 235.4 (131.8 ) 103.6 Total intangible assets subject to amortization, net: Liberty Global Group 11,581.9 (3,707.0 ) 7,874.9 12,287.3 (3,168.2 ) 9,119.1 LiLAC Group 149.0 (24.4 ) 124.6 90.6 (19.9 ) 70.7 Total $ 11,730.9 $ (3,731.4 ) $ 7,999.5 $ 12,377.9 $ (3,188.1 ) $ 9,189.8 |
Debt and Capital Lease Obliga27
Debt and Capital Lease Obligations (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Debt Instrument [Line Items] | |
Schedule of Consolidated Debt and Capital Lease Obligations | The U.S. dollar equivalents of the components of our consolidated third-party debt are as follows: June 30, 2015 Carrying value (d) Weighted average interest rate (a) Unused borrowing capacity (b) Estimated fair value (c) Borrowing currency U.S. $ equivalent June 30, 2015 December 31, 2014 June 30, 2015 December 31, 2014 in millions Liberty Global Group: VM Notes 5.62 % — $ — $ 11,156.3 $ 8,461.0 $ 10,978.4 $ 8,060.7 VM Credit Facility 3.82 % £ 675.0 1,061.3 3,331.9 4,734.9 3,330.7 4,804.0 VM Convertible Notes (e) 6.50 % — — 185.1 178.7 56.5 56.8 Ziggo Credit Facilities 3.60 % € 450.0 501.9 5,534.5 4,663.0 5,518.7 4,710.8 Ziggo SPE Notes 4.46 % — — 1,710.3 — 1,738.3 — Ziggo Notes 6.82 % — — 1,006.2 1,082.3 989.0 1,077.0 Unitymedia Notes 5.03 % — — 7,698.7 7,869.3 7,441.0 7,400.9 Unitymedia Revolving Credit Facilities — € 500.0 557.7 — 319.4 — 338.8 UPCB SPE Notes 5.81 % — — 3,171.1 4,279.0 3,157.5 4,009.4 UPC Broadband Holding Bank Facility 3.25 % € 1,046.2 1,166.9 1,292.1 3,156.4 1,302.2 3,179.2 UPC Holding Senior Notes 6.59 % — — 1,674.0 2,603.6 1,540.6 2,391.6 Telenet SPE Notes 5.91 % — — 2,233.7 2,450.4 2,119.1 2,299.0 Telenet Credit Facility 3.41 % € 322.9 360.1 1,510.1 1,633.4 1,510.5 1,638.6 Sumitomo Collar Loan 1.88 % — — 797.7 818.0 774.3 787.7 ITV Collar Loan 1.73 % — — 687.0 678.2 679.0 667.0 Vendor financing (f) 3.39 % — — 992.9 946.4 992.9 946.4 Other 9.34 % — — 163.0 171.5 163.0 171.5 Total Liberty Global Group 4.83 % 3,647.9 43,144.6 44,045.5 42,291.7 42,539.4 LiLAC Group: VTR Finance Senior Secured Notes 6.88 % — — 1,440.3 1,439.4 1,400.0 1,400.0 VTR Credit Facility — (g) 194.4 — — — — Liberty Puerto Rico Bank Facility (h) 5.11 % $ 40.0 40.0 939.6 666.2 933.2 672.0 Total LiLAC Group 6.17 % 234.4 2,379.9 2,105.6 2,333.2 2,072.0 Total third-party debt 4.90 % $ 3,882.3 $ 45,524.5 $ 46,151.1 $ 44,624.9 $ 44,611.4 _______________ (a) Represents the weighted average interest rate in effect at June 30, 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 and 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% (including 5.2% for the Liberty Global Group and 8.7% for the LiLAC Group ) at June 30, 2015 . For information regarding our derivative instruments, see note 4 . (b) Unused borrowing capacity represents the maximum availability under the applicable facility at June 30, 2015 without regard to covenant compliance calculations or other conditions precedent to borrowing. At June 30, 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 the aggregate availability under (i) Unitymedia ’s (a) €420.0 million ( $468.4 million ) senior secured revolving credit facility (the UM Senior Secured Facility ) and (b) €80.0 million ( $89.2 million ) super senior secured revolving credit facility (together with the UM Senior Secured Facility , the Unitymedia Revolving Credit Facilities ) was limited to €481.9 million ( $537.5 million ) and (ii) the UPC Broadband Holding Bank Facility was limited to €381.0 million ( $424.9 million ). When the relevant June 30, 2015 compliance reporting requirements have been completed, and assuming no changes from June 30, 2015 borrowing levels, we anticipate that (1) the full amount of unused borrowing capacity under the Unitymedia Revolving Credit Facilities will be available to be borrowed, (2) the availability under the UPC Broadband Holding Bank Facility will be limited to €531.6 million ( $592.9 million ) and (3) the availability under the Ziggo Credit Facilities will be limited to €409.0 million ( $456.2 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 June 30, 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 , Ziggo and Virgin Media was limited to €64.4 million ( $71.8 million ), €225.4 million ( $251.4 million ) and £670.3 million ( $1,053.9 million ), respectively. When the relevant June 30, 2015 compliance reporting requirements have been completed and assuming no changes from June 30, 2015 borrowing levels, we anticipate that (I) the availability to be loaned or distributed by Unitymedia will be limited to €202.1 million ( $225.4 million ), (II) the availability to be loaned or distributed by Ziggo will be limited to €57.6 million ( $64.2 million ) and (III) the full amount of unused borrowing capacity will be available to be loaned or distributed by Virgin Media . On July 28, 2015, the availability under the Ziggo Credit Facilities was increased by €150.0 million ( $167.3 million ). For information regarding amounts under the Telenet Credit Facility that are not included in our unused borrowing capacity, see “Telenet Credit Facility” below . In addition, Telenet entered into a financing transaction subsequent to June 30, 2015 that could have an impact on its unused borrowing capacity. For additional information, 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) At June 30, 2015 , the VM Convertible Notes were exchangeable under certain conditions for (subject to further adjustment as provided in the underlying indenture (the VM Convertible Notes Indenture ) and subject to Virgin Media ’s right to settle in cash or a combination of Old Liberty Global Ordinary Shares and cash) 13.4339 Class A Old Liberty Global Ordinary Shares , 33.4963 Class C Old Liberty Global Ordinary Shares and $910.51 in cash (without interest) for each $1,000 in principal amount of VM Convertible Notes exchanged. As a result of the LiLAC Transaction , the VM Convertible Notes Indenture was amended such that the VM Convertible Notes are now exchangeable for 14.0791 Class A Liberty Global Ordinary Shares , 35.1665 Class C Liberty Global Ordinary Shares and $910.51 in cash (without interest) for each $1,000 in principal amount of VM Convertible Notes exchanged. (f) 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 June 30, 2015 and December 31, 2014 , the amounts owed pursuant to these arrangements include $110.6 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. (g) 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 ( $34.4 million ) Chilean peso facility (the VTR CLP Credit Facility ), each of which were undrawn at June 30, 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. (h) In June 2015, we increased the principal amount outstanding under the Liberty Puerto Rico Bank Facility by $267.5 million ( $261.1 million carrying value after deducting the applicable discount). Substantially all of the net proceeds from this borrowing were used to fund a portion of the purchase price for the Choice Acquisition . For additional information regarding the Choice Acquisition , see note 3 . Capital Lease Obligations The U.S. dollar equivalents of our consolidated capital lease obligations are as follows: June 30, 2015 December 31, 2014 in millions Liberty Global Group: Unitymedia $ 734.4 $ 810.1 Telenet 383.8 413.4 Virgin Media 215.6 255.3 Other subsidiaries 94.1 67.3 Total Liberty Global Group capital lease obligations 1,427.9 1,546.1 LiLAC Group: Liberty Puerto Rico 0.8 1.0 VTR 0.4 0.5 Total LiLAC Group capital lease obligations 1.2 1.5 Total capital lease obligations $ 1,429.1 $ 1,547.6 |
Debt Instrument Redemption | Redemption price Year Telenet Finance VI Notes 2021 102.438% 2022 101.219% 2023 100.609% 2024 and thereafter 100.000% |
Schedule of Maturities of Long-Term Debt | Maturities of Debt and Capital Lease Obligations Maturities of our debt and capital lease obligations as of June 30, 2015 are presented below for the named entity and its subsidiaries, unless otherwise noted. Amounts presented below represent U.S. dollar equivalents based on June 30, 2015 exchange rates: Debt: Liberty Global Group LiLAC Group Virgin Media Ziggo Group Holding (a) Unitymedia UPC Holding (b) Telenet (c) Other Total Liberty Global Group VTR Liberty Puerto Rico Total LiLAC Group Total in millions Year ending December 31: 2015 (remainder of year) $ 90.4 $ 245.9 $ 83.1 $ 262.9 $ 8.3 $ 20.3 $ 710.9 $ — $ — $ — $ 710.9 2016 191.8 0.4 57.7 296.5 8.3 368.6 923.3 — — — 923.3 2017 — — — — 8.3 908.5 916.8 — — — 916.8 2018 — — — — 8.3 236.8 245.1 — — — 245.1 2019 — — — — 18.9 — 18.9 — — — 18.9 2020 — 80.0 — — 570.1 — 650.1 — — — 650.1 Thereafter 14,291.2 7,916.3 7,441.0 6,009.5 3,158.0 0.2 38,816.2 1,400.0 942.5 2,342.5 41,158.7 Total debt maturities 14,573.4 8,242.6 7,581.8 6,568.9 3,780.2 1,534.4 42,281.3 1,400.0 942.5 2,342.5 44,623.8 Unamortized premium (discount) 19.6 26.7 — (9.2 ) (2.9 ) (23.8 ) 10.4 — (9.3 ) (9.3 ) 1.1 Total debt $ 14,593.0 $ 8,269.3 $ 7,581.8 $ 6,559.7 $ 3,777.3 $ 1,510.6 $ 42,291.7 $ 1,400.0 $ 933.2 $ 2,333.2 $ 44,624.9 Current portion (d) $ 283.9 $ 245.9 $ 140.8 $ 559.4 $ 8.3 $ 198.2 $ 1,436.5 $ — $ — $ — $ 1,436.5 Noncurrent portion $ 14,309.1 $ 8,023.4 $ 7,441.0 $ 6,000.3 $ 3,769.0 $ 1,312.4 $ 40,855.2 $ 1,400.0 $ 933.2 $ 2,333.2 $ 43,188.4 _______________ (a) Amounts include the Ziggo SPE Notes issued by the Ziggo SPE s. As described above, the Ziggo SPE s are consolidated by Ziggo Group Holding . (b) Amounts include the UPCB SPE Notes issued by the UPCB SPE s. As described above, the UPCB SPE s are consolidated by UPC Holding . (c) Amounts include the Telenet SPE Notes issued by the Telenet SPE s. As described above, the Telenet SPE s 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: Liberty Global Group Unitymedia Telenet Virgin Media Other Total Liberty Global Group Total LiLAC Group Total in millions Year ending December 31: 2015 (remainder of year) $ 40.8 $ 38.0 $ 59.9 $ 12.5 $ 151.2 $ 0.6 $ 151.8 2016 81.8 61.0 75.8 23.1 241.7 0.4 242.1 2017 81.8 59.5 35.8 17.3 194.4 0.3 194.7 2018 81.8 57.4 11.1 10.8 161.1 — 161.1 2019 81.8 47.7 5.6 7.0 142.1 — 142.1 2020 81.8 45.0 4.5 5.7 137.0 — 137.0 Thereafter 808.4 206.8 219.7 44.1 1,279.0 — 1,279.0 Total principal and interest payments 1,258.2 515.4 412.4 120.5 2,306.5 1.3 2,307.8 Amounts representing interest (523.8 ) (131.6 ) (196.8 ) (26.4 ) (878.6 ) (0.1 ) (878.7 ) Present value of net minimum lease payments $ 734.4 $ 383.8 $ 215.6 $ 94.1 $ 1,427.9 $ 1.2 $ 1,429.1 Current portion $ 26.0 $ 39.1 $ 92.0 $ 19.4 $ 176.5 $ 0.9 $ 177.4 Noncurrent portion $ 708.4 $ 344.7 $ 123.6 $ 74.7 $ 1,251.4 $ 0.3 $ 1,251.7 |
VM Notes [Member] | |
Debt Instrument [Line Items] | |
Schedule of Debt | The details of the outstanding senior notes of Virgin Media as of June 30, 2015 are summarized in the following table: Outstanding principal VM Notes Maturity Interest Borrowing U.S. $ Estimated Carrying in millions 2022 VM Senior Notes: 2022 VM 4.875% Dollar Senior Notes February 15, 2022 4.875% $ 118.7 $ 118.7 $ 112.1 $ 119.5 2022 VM 5.25% Dollar Senior Notes February 15, 2022 5.250% $ 95.0 95.0 90.2 95.7 2022 VM Sterling Senior Notes February 15, 2022 5.125% £ 44.1 69.3 69.5 70.0 2023 VM Senior Notes: 2023 VM Dollar Senior Notes April 15, 2023 6.375% $ 530.0 530.0 549.2 530.0 2023 VM Sterling Senior Notes April 15, 2023 7.000% £ 250.0 393.1 420.4 393.1 2024 VM Senior Notes: 2024 VM Dollar Senior Notes October 15, 2024 6.000% $ 500.0 500.0 508.4 500.0 2024 VM Sterling Senior Notes October 15, 2024 6.375% £ 300.0 471.7 492.7 471.7 2025 VM Senior Notes: 2025 VM Euro Senior Notes January 15, 2025 4.500% € 460.0 513.1 511.4 513.1 2025 VM Dollar Senior Notes January 15, 2025 5.750% $ 400.0 400.0 404.3 400.0 January 2021 VM Senior Secured Notes: January 2021 VM Sterling Senior Secured Notes January 15, 2021 5.500% £ 628.4 988.1 1,052.4 1,000.3 January 2021 VM Dollar Senior Secured Notes January 15, 2021 5.250% $ 447.9 447.9 471.9 459.1 April 2021 VM Senior Secured Notes: April 2021 VM Sterling Senior Secured Notes April 15, 2021 6.000% £ 990.0 1,556.7 1,626.8 1,556.7 April 2021 VM Dollar Senior Secured Notes April 15, 2021 5.375% $ 900.0 900.0 921.4 900.0 2025 VM Senior Secured Notes: 2025 VM 5.5% Sterling Senior Secured Notes January 15, 2025 5.500% £ 387.0 608.5 613.5 608.5 2025 VM Dollar Senior Secured Notes January 15, 2025 5.500% $ 425.0 425.0 427.1 425.0 2025 VM 5.125% Sterling Senior Secured Notes January 15, 2025 5.125% £ 300.0 471.7 466.7 471.7 2026 VM Senior Secured Notes January 15, 2026 5.250% $ 1,000.0 1,000.0 968.1 1,004.9 2027 VM Senior Secured Notes January 15, 2027 4.875% £ 525.0 825.5 797.2 825.5 2029 VM Senior Secured Notes March 28, 2029 6.250% £ 400.0 628.9 653.0 633.6 Total $ 10,943.2 $ 11,156.3 $ 10,978.4 _______________ (a) Amounts include the impact of premiums, where applicable, including amounts recorded in connection with the acquisition accounting for Virgin Media . |
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 102.625% N.A. 2021 101.313% 102.438% 2022 100.656% 101.219% 2023 100.000% 100.609% 2024 and thereafter 100.000% 100.000% |
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 June 30, 2015 are summarized in the following table: Facility Maturity Interest rate Facility amount (in borrowing currency) Unused borrowing capacity Carrying value (a) in millions D June 30, 2022 LIBOR + 3.25% (b) £ 100.0 $ — $ 156.9 E June 30, 2023 LIBOR + 3.50% (b) £ 849.4 — 1,332.6 F June 20, 2023 LIBOR + 2.75% (b) $ 1,855.0 — 1,841.2 Revolving Facility (c) December 31, 2021 LIBOR + 2.75% £ 675.0 1,061.3 — Total $ 1,061.3 $ 3,330.7 _______________ (a) The carrying values of VM Facilities D, E and F include the impact of discounts. (b) VM Facilities D, E and F each have a LIBOR floor of 0.75% . (c) The Revolving Facility has a fee on unused commitments of 1.1% per year. |
Unitymedia Notes [Member] | |
Debt Instrument [Line Items] | |
Schedule of Debt | The details of the outstanding notes of Unitymedia as of June 30, 2015 are summarized in the following table: Outstanding principal amount Unitymedia Notes Maturity Interest rate Borrowing currency U.S. $ equivalent Estimated fair value Carrying value in millions September 2012 UM Senior Secured Notes September 15, 2022 5.500 % € 585.0 $ 652.4 $ 696.9 $ 652.4 December 2012 UM Dollar Senior Secured Notes January 15, 2023 5.500 % $ 1,000.0 1,000.0 1,019.4 1,000.0 December 2012 UM Euro Senior Secured Notes January 15, 2023 5.750 % € 450.0 501.9 542.0 501.9 January 2013 UM Senior Secured Notes January 21, 2023 5.125 % € 450.0 501.9 531.7 501.9 April 2013 UM Senior Secured Notes April 15, 2023 5.625 % € 315.0 351.3 379.6 351.3 November 2013 UM Senior Secured Notes January 15, 2029 6.250 % € 475.0 529.8 597.6 529.8 October 2014 UM Senior Notes January 15, 2025 6.125 % $ 900.0 900.0 940.5 900.0 December 2014 UM Euro Senior Secured Notes January 15, 2025 4.000 % € 1,000.0 1,115.3 1,141.1 1,115.3 December 2014 UM Dollar Senior Secured Notes January 15, 2025 5.000 % $ 550.0 550.0 546.6 550.0 March 2015 UM Senior Notes January 15, 2027 3.750 % € 700.0 780.7 756.8 780.7 March 2015 UM Senior Secured Notes January 15, 2027 3.500 % € 500.0 557.7 546.5 557.7 Total $ 7,441.0 $ 7,698.7 $ 7,441.0 |
UPC Broadband Holding Bank Facility [Member] | |
Debt Instrument [Line Items] | |
Schedule of Line of Credit Facilities | 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 June 30, 2015 are summarized in the following table: Facility Maturity Interest rate Facility amount (in borrowing currency) (a) Unused borrowing capacity (b) Carrying value in millions AC (c) November 15, 2021 7.250% $ 675.0 $ — $ 675.0 AD (c) January 15, 2022 6.875% $ 675.0 — 675.0 AH (d) June 30, 2021 LIBOR + 2.50% (e) $ 1,305.0 — 1,302.2 AI April 30, 2019 EURIBOR + 3.25% € 1,046.2 1,166.9 — AK (c) January 15, 2027 4.000% € 600.0 — 669.2 AL (c) January 15, 2025 5.375% $ 1,140.0 — 1,140.0 Elimination of Facilities AC, AD, AK and AL in consolidation (c) — (3,159.2 ) Total $ 1,166.9 $ 1,302.2 _______________ (a) Except as described in (c) below, amounts represent total third-party facility amounts at June 30, 2015 without giving effect to the impact of discounts. (b) At June 30, 2015 , our availability under the UPC Broadband Holding Bank Facility was limited to €381.0 million ( $424.9 million ). When the relevant June 30, 2015 compliance reporting requirements have been completed and assuming no changes from the June 30, 2015 borrowing levels, we anticipate that our availability under the UPC Broadband Holding Bank Facility will be limited to €531.6 million ( $592.9 million ). Facility AI has a fee on unused commitments of 1.3% per year. (c) Amounts relate to certain senior secured notes (the UPCB SPE Notes ) issued by special purpose financing entities (the UPCB SPE s ) that are consolidated by UPC Holding and Liberty Global . The proceeds from the UPCB SPE Notes were used to fund additional Facilities AC, AD, AK and AL with our wholly-owned subsidiary UPC Financing Partnership ( UPC Financing ) as the borrower. Accordingly, the amounts outstanding under Facilities AC, AD, AK and AL are eliminated in our condensed consolidated financial statements. (d) The carrying value of Facility AH includes the impact of a discount. (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 June 30, 2015 are summarized in the following table: Outstanding principal amount UPC Holding Senior Notes Maturity Borrowing currency U.S. $ equivalent Estimated fair value Carrying value in millions UPC Holding 6.375% Senior Notes (a) September 15, 2022 € 600.0 $ 669.2 $ 719.4 $ 664.4 UPC Holding 6.75% Euro Senior Notes March 15, 2023 € 450.0 501.9 547.4 501.9 UPC Holding 6.75% CHF Senior Notes March 15, 2023 CHF 350.0 374.3 407.2 374.3 Total $ 1,545.4 $ 1,674.0 $ 1,540.6 _______________ (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 June 30, 2015 are summarized in the following table: Outstanding principal amount UPCB SPEs Maturity Interest rate Borrowing currency U.S. $ equivalent Estimated fair value Carrying value in millions UPCB Finance IV Dollar Notes (a) January 15, 2025 5.375% $ 1,140.0 $ 1,140.0 $ 1,090.8 $ 1,138.3 UPCB Finance IV Euro Notes January 15, 2027 4.000% € 600.0 669.2 632.0 669.2 UPCB Finance V Notes November 15, 2021 7.250% $ 675.0 675.0 726.5 675.0 UPCB Finance VI Notes January 15, 2022 6.875% $ 675.0 675.0 721.8 675.0 Total $ 3,159.2 $ 3,171.1 $ 3,157.5 _______________ (a) The carrying value includes the impact of a discount related to the Additional UPCB Finance IV Dollar Notes , as defined and described below. |
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 102.688% N.A. 2021 101.792% 102.000% 2022 100.896% 101.000% 2023 100.000% 100.500% 2024 and thereafter 100.000% 100.000% |
2015 UM Notes [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument Redemption | The UM Senior Secured Note Issuer s 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 March 2015 UM Senior Secured Notes March 2015 UM Senior Notes 2021 101.750% 101.875% 2022 100.875% 100.938% 2023 100.438% 100.469% 2024 and thereafter 100.000% 100.000% |
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 June 30, 2015 are summarized in the following table: Facility Maturity Interest rate Facility amount (in borrowing currency) Unused borrowing capacity (a) Carrying value (b) in millions Ziggo Dollar Facility January 15, 2022 LIBOR + 2.75% (c) $ 2,350.0 $ — $ 2,317.5 Ziggo Euro Facility January 15, 2022 EURIBOR + 3.00% (d) € 2,000.0 — 2,209.5 Senior Secured Proceeds Loan (e) January 15, 2025 3.750% € 800.0 — 892.2 Euro Senior Proceeds Loan (e) January 15, 2025 4.625% € 400.0 — 446.1 Dollar Senior Proceeds Loan (e) January 15, 2025 5.875% $ 400.0 — 400.0 New Ziggo Credit Facility March 31, 2021 EURIBOR + 3.75% € 689.2 — 768.6 Ziggo Revolving Facilities June 30, 2020 (f) € 650.0 501.9 223.1 Elimination of the Proceeds Loans in consolidation (e) — (1,738.3 ) Total $ 501.9 $ 5,518.7 _______________ (a) When the relevant June 30, 2015 compliance reporting requirements have been completed and assuming no changes from the June 30, 2015 borrowing levels, we anticipate that our availability under the Ziggo Credit Facilities will be limited to €409.0 million ( $456.2 million ). (b) The carrying values of the Ziggo Euro Facility and the Ziggo Dollar Facility include the impact of discounts. (c) The Ziggo Dollar Facility has a LIBOR floor of 0.75% . (d) The Ziggo Euro Facility has a EURIBOR floor of 0.75% . (e) Amounts relate to certain senior and senior secured notes (the Ziggo SPE Notes ) issued by special purpose financing entities (the Ziggo SPE s ) 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. (f) The Ziggo Revolving Facilities include (i) a €600.0 million ( $669.2 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 ( $55.8 million ) facility that bears interest at EURIBOR plus a margin of 2.0% and has a fee on unused commitments of 0.8% per year. On July 28, 2015, the commitments under the €600.0 million ( $669.2 million ) facility were increased by €150.0 million ( $167.3 million ). |
Telenet Credit Facility [Member] | |
Debt Instrument [Line Items] | |
Schedule of Line of Credit Facilities | The Telenet Credit Facility , as amended, is the senior secured credit facility of Telenet International . The details of our borrowings under the Telenet Credit Facility as of June 30, 2015 are summarized in the following table: Facility Maturity Interest rate Facility amount (in borrowing currency) (a) Unused borrowing capacity (b) Carrying value in millions M (c) November 15, 2020 6.375% € 500.0 $ — $ 557.7 O (c) February 15, 2021 6.625% € 300.0 — 334.6 P (c) June 15, 2021 EURIBOR + 3.875% € 400.0 — 446.1 S (d) December 31, 2016 EURIBOR + 2.75% € 36.9 41.1 — U (c) August 15, 2022 6.250% € 450.0 — 501.9 V (c) August 15, 2024 6.750% € 250.0 — 278.8 W (e) June 30, 2022 EURIBOR + 3.25% € 474.1 — 527.7 X (d) September 30, 2020 EURIBOR + 2.75% € 286.0 319.0 — Y (e) June 30, 2023 EURIBOR + 3.50% € 882.9 — 982.8 Z June 30, 2018 EURIBOR + 2.25% € 200.0 (f) — AA June 30, 2023 EURIBOR + 3.50% € 800.0 (f) — Elimination of Telenet Facilities M, O, P, U and V in consolidation (c) — (2,119.1 ) Total $ 360.1 $ 1,510.5 _______________ (a) Except as described in (c) below, amounts represent total third-party facility amounts at June 30, 2015 . (b) Telenet Facilities S and X each have a fee on unused commitments of 1.1% per year. Telenet Facility Z has a fee on unused commitments of 0.8% per year. (c) Amounts relate to certain senior secured notes (the Telenet SPE Notes ) issued by special purpose financing entities (the Telenet SPE s ) that are consolidated by Telenet International and its parent entities, including Telenet and Liberty Global . The proceeds from the Telenet SPE Notes were used to fund additional Telenet Facilities M, O, P, U and V, with Telenet International as the borrower. Accordingly, the amounts outstanding under Telenet Facilities M, O, P, U and V are eliminated in our condensed consolidated financial statements. (d) On July 1, 2015, (i) the revolving credit facility under the Telenet Credit Facility was increased by €85.0 million ( $94.8 million ) ( Telenet Facility X2 ) and (ii) a lender under the existing Telenet Facility S under the Telenet Credit Facility agreed to novate commitments of €10.0 million ( $11.2 million ) to a subsidiary of Telenet and enter into the new Telenet Facility X2 , resulting in a total increased availability under the revolving credit facility of €95.0 million ( $106.0 million ). Telenet Facility X2 has the same terms as Telenet Facility X . (e) The carrying values of Telenet Facilities W and Y include the impact of discounts. (f) On May 7, 2015, Telenet International entered into a new revolving credit facility ( Telenet Facility Z ) and a new term loan ( Telenet Facility AA ), each under the Telenet Credit Facility . At June 30, 2015 , Telenet Facility Z and Telenet Facility AA were undrawn. We expect the proceeds from Telenet Facility Z and Telenet Facility AA to be used to fund a portion of the purchase price of the pending acquisition of BASE . Although Telenet currently has the ability, subject to certain restrictions and covenant limitations, to draw certain amounts under Telenet Facility Z and Telenet Facility AA for general corporate purposes, we expect that these facilities will remain undrawn until the closing of the acquisition of BASE . Accordingly, Telenet ’s unused borrowing capacity at June 30, 2015 excludes the availability under Telenet Facility Z and Telenet Facility AA . For information regarding a financing transaction completed subsequent to June 30, 2015 that impacts the Telenet Credit Facility , see note 15 . |
Income Taxes (Tables)
Income Taxes (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Accrued Income Taxes [Abstract] | |
Income Tax Benefit (Expense) Reconciliation Table | Income tax benefit (expense) 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 Six months ended June 30, June 30, 2015 2014 2015 2014 in millions Computed “expected” tax benefit (a) $ 56.0 $ 49.3 $ 175.9 $ 162.0 Change in valuation allowances (b): Decrease (160.3 ) (193.5 ) (386.3 ) (248.7 ) Increase 42.8 101.3 43.8 106.2 International rate differences (b) (c): Increase 31.4 57.0 125.3 116.5 Decrease (21.0 ) (8.3 ) (34.5 ) (13.8 ) Tax effect of intercompany financing 38.5 41.0 76.7 81.5 Non-deductible or non-taxable foreign currency exchange results (b): Decrease (21.2 ) (16.5 ) (29.9 ) (23.9 ) Increase (67.3 ) (1.5 ) 2.2 0.6 Non-deductible or non-taxable interest and other expenses (b): Decrease (15.3 ) (53.2 ) (49.0 ) (84.2 ) Increase 12.1 16.1 23.3 31.1 Basis and other differences in the treatment of items associated with investments in subsidiaries and affiliates (b): Decrease (26.7 ) 3.7 (27.7 ) (45.9 ) Increase (2.7 ) 3.8 11.8 4.3 Recognition of previously unrecognized tax benefits 4.7 — 13.6 28.8 Tax benefit associated with technology innovation 6.6 — 10.5 — Other, net (7.6 ) 1.4 (7.8 ) 3.1 Total income tax benefit (expense) $ (130.0 ) $ 0.6 $ (52.1 ) $ 117.6 _______________ (a) The statutory or “expected” tax rates are the U.K. rates of 20.0% for the 2015 periods and 21.0% for 2014 periods. (b) Country jurisdictions giving rise to increases within the six -month period are grouped together and shown separately from country jurisdictions giving rise to decreases within the six -month period. (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. |
Share-based Compensation (Table
Share-based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |
Summary of stock-based compensation | The following table summarizes our share-based compensation expense: Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 in millions Old Liberty Global Ordinary Shares: Performance-based incentive awards (a) $ 28.5 $ 23.2 $ 70.6 $ 43.8 Other share-based incentive awards 25.1 22.2 50.5 52.4 Total Old Liberty Global Ordinary Shares 53.6 45.4 121.1 96.2 Telenet share-based incentive awards 2.4 7.8 5.6 10.7 Other 0.6 1.2 1.3 2.6 Total $ 56.6 $ 54.4 $ 128.0 $ 109.5 Included in: Operating expense: Liberty Global Group $ 1.1 $ 3.2 $ 1.8 $ 4.0 LiLAC Group 0.3 0.4 0.3 0.9 Total operating expense 1.4 3.6 2.1 4.9 SG&A expense: Liberty Global Group 53.9 49.3 125.7 101.4 LiLAC Group (b) 1.3 1.5 0.2 3.2 Total SG&A expense 55.2 50.8 125.9 104.6 Total $ 56.6 $ 54.4 $ 128.0 $ 109.5 _______________ (a) Includes share-based compensation expense related to (i) Liberty Global performance-based restricted share units ( PSU s ), (ii) a challenge performance award plan for certain executive officers and key employees (the Challenge Performance Awards ) and (iii) the Performance Grant Units ( PGUs ). The Challenge Performance Awards include performance-based share appreciation rights ( PSAR s ) and PSU s. (b) The amount for the six-month period in 2015 includes the reversal of $1.8 million of share-based compensation expense, primarily related to forfeitures of unvested PSU s during the first quarter of 2015. |
Summary of stock compensation not recognized | The following table provides certain information related to share-based compensation not yet recognized for share-based incentive awards related to Old Liberty Global Ordinary Shares as of June 30, 2015 : Liberty Global ordinary shares (a) Liberty Global performance-based awards (b) Total compensation expense not yet recognized (in millions) $ 212.0 $ 148.7 Weighted average period remaining for expense recognition (in years) 3.1 1.3 _______________ (a) Amounts relate to awards granted or assumed by Liberty Global under (i) the Liberty Global 2014 Incentive Plan (as amended and restated effective February 24, 2015), (ii) the Liberty Global 2014 Nonemployee Director Incentive Plan, (iii) the Liberty Global, Inc. 2005 Incentive Plan (as amended and restated effective June 7, 2013), (iv) the Liberty Global, Inc. 2005 Nonemployee Director Incentive Plan (as amended and restated effective June 7, 2013) and (v) certain other incentive plans of Virgin Media , including Virgin Media ’s 2010 stock incentive plan. All new awards are granted under the Liberty Global 2014 Incentive Plan or the Liberty Global 2014 Nonemployee Director Incentive Plan. (b) Amounts relate to (i) the Challenge Performance Awards , (ii) PSU s and (iii) the PGUs . |
Stock compensation assumptions | The following table summarizes certain information related to the incentive awards granted and exercised with respect to Old Liberty Global Ordinary Shares : Six months ended June 30, 2015 2014 Assumptions used to estimate fair value of options, share appreciation rights ( SARs ) and PSARs granted: Risk-free interest rate 0.96 - 1.89% 0.81 - 1.77% Expected life 3.0 - 5.5 years 3.1 - 5.1 years Expected volatility 23.1 - 30.1% 25.5 - 28.7% Expected dividend yield none none Weighted average grant-date fair value per share of awards granted: Options $ 14.73 $ 11.40 SARs $ 10.78 $ 8.95 PSARs $ — $ 8.15 Restricted share units ( RSUs ) $ 51.97 $ 39.72 PSUs $ 51.69 $ 40.41 PGUs $ — $ 44.04 Total intrinsic value of awards exercised (in millions): Options $ 93.5 $ 43.7 SARs $ 40.1 $ 17.7 PSARs $ 0.2 $ 0.2 Cash received from exercise of options (in millions) $ 37.0 $ 23.9 Income tax benefit related to share-based compensation (in millions) $ 28.0 $ 20.1 |
Employee Stock Option [Member] | Class A Ordinary Shares [Member] | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |
Schedule of stock option activity | The following tables summarize the share-based award activity during the six months ended June 30, 2015 with respect to Old Liberty Global Ordinary Shares ordinary shares: Options — Class A ordinary shares Number of shares Weighted average exercise price Weighted average remaining contractual term Aggregate intrinsic value in years in millions Outstanding at January 1, 2015 1,726,259 $ 18.01 Granted 61,763 $ 54.97 Cancelled (13,836 ) $ 23.59 Exercised (920,468 ) $ 14.03 Outstanding at June 30, 2015 853,718 $ 24.90 5.6 $ 25.0 Exercisable at June 30, 2015 417,692 $ 18.05 4.3 $ 15.0 |
Employee Stock Option [Member] | Class C Ordinary Shares [Member] | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |
Schedule of stock option activity | Options — Class C ordinary shares Number of shares Weighted average exercise price Weighted average remaining contractual term Aggregate intrinsic value in years in millions Outstanding at January 1, 2015 3,946,192 $ 17.67 Granted 622,301 $ 43.34 Cancelled (34,493 ) $ 22.23 Exercised (1,613,927 ) $ 14.99 Outstanding at June 30, 2015 2,920,073 $ 24.57 6.1 $ 76.3 Exercisable at June 30, 2015 1,377,436 $ 15.25 4.1 $ 48.7 |
Stock Appreciation Rights (SARs) [Member] | Class A Ordinary Shares [Member] | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |
Schedule of other share based compensation activity | SARs — Class A ordinary shares Number of shares Weighted average base price Weighted average remaining contractual term Aggregate intrinsic value in years in millions Outstanding at January 1, 2015 5,607,988 $ 31.07 Granted 2,252,602 $ 53.11 Forfeited (106,696 ) $ 37.27 Exercised (354,800 ) $ 25.68 Outstanding at June 30, 2015 7,399,094 $ 37.95 5.1 $ 119.3 Exercisable at June 30, 2015 2,815,909 $ 25.41 3.4 $ 80.7 |
Stock Appreciation Rights (SARs) [Member] | Class C Ordinary Shares [Member] | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |
Schedule of other share based compensation activity | SARs — Class C ordinary shares Number of shares Weighted average base price Weighted average remaining contractual term Aggregate intrinsic value in years in millions Outstanding at January 1, 2015 14,689,045 $ 28.49 Granted 4,505,204 $ 51.41 Forfeited (262,502 ) $ 34.80 Exercised (1,062,945 ) $ 23.48 Outstanding at June 30, 2015 17,868,802 $ 34.47 4.8 $ 292.2 Exercisable at June 30, 2015 7,907,213 $ 23.75 3.3 $ 212.5 |
Performance Stock Appreciation Rights (PSARs) [Member] | Class A Ordinary Shares [Member] | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |
Schedule of other share based compensation activity | PSARs — Class A ordinary shares Number of shares Weighted average base price Weighted average remaining contractual term Aggregate intrinsic value in years in millions Outstanding at January 1, 2015 2,788,749 $ 35.10 Forfeited (35,625 ) $ 35.03 Exercised (4,166 ) $ 35.03 Outstanding at June 30, 2015 2,748,958 $ 35.10 5.0 $ 52.1 Exercisable at June 30, 2015 7,708 $ 35.03 1.6 $ 0.1 |
Performance Stock Appreciation Rights (PSARs) [Member] | Class C Ordinary Shares [Member] | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |
Schedule of other share based compensation activity | PSARs — Class C ordinary shares Number of shares Weighted average base price Weighted average remaining contractual term Aggregate intrinsic value in years in millions Outstanding at January 1, 2015 8,366,248 $ 33.48 Forfeited (106,875 ) $ 33.41 Exercised (12,499 ) $ 33.41 Outstanding at June 30, 2015 8,246,874 $ 33.48 5.0 $ 141.4 Exercisable at June 30, 2015 23,124 $ 33.41 1.6 $ 0.4 |
Restricted Stock Units (RSUs) [Member] | Class A Ordinary Shares [Member] | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |
Schedule of other share based compensation activity | RSUs — Class A ordinary shares Number of shares Weighted average grant-date fair value per share Weighted average remaining contractual term in years Outstanding at January 1, 2015 565,270 $ 38.27 Granted 298,713 $ 53.11 Forfeited (18,827 ) $ 37.52 Released from restrictions (299,372 ) $ 37.65 Outstanding at June 30, 2015 545,784 $ 46.76 3.3 |
Restricted Stock Units (RSUs) [Member] | Class C Ordinary Shares [Member] | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |
Schedule of other share based compensation activity | RSUs — Class C ordinary shares Number of shares Weighted average grant-date fair value per share Weighted average remaining contractual term in years Outstanding at January 1, 2015 1,387,003 $ 35.59 Granted 597,426 $ 51.40 Forfeited (45,611 ) $ 34.70 Released from restrictions (553,929 ) $ 34.55 Outstanding at June 30, 2015 1,384,889 $ 42.85 3.7 |
PSUs / PGUs [Member] | Class A Ordinary Shares [Member] | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |
Schedule of other share based compensation activity | PSUs and PGUs — Class A ordinary shares Number of shares Weighted average grant-date fair value per share Weighted average remaining contractual term in years Outstanding at January 1, 2015 1,989,693 $ 41.34 Granted 410,716 $ 52.82 Performance adjustment (a) 50,410 $ 37.31 Forfeited (22,619 ) $ 38.47 Released from restrictions (543,707 ) $ 41.12 Outstanding at June 30, 2015 1,884,493 $ 43.84 1.5 |
PSUs / PGUs [Member] | Class B Ordinary Shares [Member] | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |
Schedule of other share based compensation activity | PGUs — Class B ordinary shares Number of shares Weighted average grant-date fair value per share Weighted average remaining contractual term in years Outstanding at January 1, 2015 1,000,000 $ 44.55 Released from restrictions (333,333 ) $ 44.55 Outstanding at June 30, 2015 666,667 $ 44.55 1.7 |
PSUs / PGUs [Member] | Class C Ordinary Shares [Member] | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |
Schedule of other share based compensation activity | PSUs — Class C ordinary shares Number of shares Weighted average grant-date fair value per share Weighted average remaining contractual term in years Outstanding at January 1, 2015 2,442,767 $ 36.71 Granted 821,432 $ 51.12 Performance adjustment (a) 147,179 $ 34.80 Forfeited (58,997 ) $ 36.02 Released from restrictions (614,341 ) $ 34.80 Outstanding at June 30, 2015 2,738,040 $ 41.38 1.3 _______________ (a) Represents the increase in PSU s associated with the first quarter 2015 determination that 113.6% of the PSU s that were granted in 2013 (the 2013 PSU s ) had been earned. Half of the earned 2013 PSU s were released from restrictions on March 31, 2015 and, subject to forfeitures, the remainder will be released on September 30, 2015. |
Restructuring Liability (Tables
Restructuring Liability (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Restructuring and Related Activities [Abstract] | |
Summary of changes in restructuring liability | A summary of the changes in our restructuring liability during the six months ended June 30, 2015 is set forth in the table below: Employee severance and termination Office closures Contract termination and other Total in millions Restructuring liability as of January 1, 2015 $ 27.6 $ 12.5 $ 116.0 $ 156.1 Restructuring charges (credits) 26.7 (0.5 ) 5.1 31.3 Cash paid (30.7 ) (2.9 ) (14.6 ) (48.2 ) Foreign currency translation adjustments and other 0.1 2.2 (7.1 ) (4.8 ) Restructuring liability as of June 30, 2015 $ 23.7 $ 11.3 $ 99.4 $ 134.4 Current portion $ 23.6 $ 2.6 $ 15.9 $ 42.1 Noncurrent portion 0.1 8.7 83.5 92.3 Total $ 23.7 $ 11.3 $ 99.4 $ 134.4 |
Earnings or Loss per Ordinary31
Earnings or Loss per Ordinary Share (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Details of Net Earnings (Loss) Attributable to LGI Stockholders | The details of our net loss attributable to Liberty Global shareholders are set forth below: Three months ended Six months ended June 30, June 30, 2015 2014 2015 2014 in millions Amounts attributable to Liberty Global shareholders: Loss from continuing operations $ (464.7 ) $ (242.7 ) $ (1,002.2 ) $ (662.2 ) Earnings (loss) from discontinued operation — (7.2 ) — 333.5 Net loss attributable to Liberty Global shareholders $ (464.7 ) $ (249.9 ) $ (1,002.2 ) $ (328.7 ) |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Unrecorded Purchase Obligation | The U.S. dollar equivalents of such commitments as of June 30, 2015 are presented below: Payments due during: Remainder of 2015 2016 2017 2018 2019 2020 Thereafter Total in millions Programming commitments $ 519.2 $ 977.6 $ 880.3 $ 701.3 $ 263.7 $ 5.5 $ 2.4 $ 3,350.0 Network and connectivity commitments 190.7 265.6 239.3 124.5 86.9 62.8 907.0 1,876.8 Purchase commitments 797.0 157.7 70.3 12.2 4.3 — — 1,041.5 Operating leases 88.8 152.5 128.3 110.3 89.8 56.3 293.9 919.9 Other commitments 209.9 190.4 146.5 89.8 45.1 22.4 27.6 731.7 Total (a) $ 1,805.6 $ 1,743.8 $ 1,464.7 $ 1,038.1 $ 489.8 $ 147.0 $ 1,230.9 $ 7,919.9 _______________ (a) The commitments reflected in this table do not reflect any liabilities that are included in our June 30, 2015 condensed consolidated balance sheet. |
Segment Reporting (Tables)
Segment Reporting (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Segment Reporting, Measurement Disclosures [Abstract] | |
Revenue and Operating Cash Flow by Segment | Revenue Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 in millions Liberty Global Group: European Operations Division: U.K./Ireland $ 1,759.6 $ 1,896.7 $ 3,471.0 $ 3,744.2 The Netherlands (a) 683.9 316.3 1,391.3 634.4 Germany 591.0 688.8 1,188.9 1,384.7 Belgium 500.3 582.4 1,003.0 1,156.6 Switzerland/Austria 448.8 476.7 888.1 940.5 Total Western Europe 3,983.6 3,960.9 7,942.3 7,860.4 Central and Eastern Europe 267.2 324.5 535.4 648.4 Central and other (1.0 ) (1.2 ) (3.8 ) (2.0 ) Total European Operations Division 4,249.8 4,284.2 8,473.9 8,506.8 Corporate and other 12.8 17.6 25.6 36.0 Intersegment eliminations (b) (7.5 ) (6.0 ) (15.3 ) (13.2 ) Total Liberty Global Group 4,255.1 4,295.8 8,484.2 8,529.6 LiLAC Group: Chile 220.8 229.8 429.6 455.1 Puerto Rico (c) 90.6 76.6 169.6 151.3 Total LiLAC Group 311.4 306.4 599.2 606.4 Inter-group eliminations — — — (0.1 ) Total $ 4,566.5 $ 4,602.2 $ 9,083.4 $ 9,135.9 ______________ (a) The amounts presented for the 2014 periods exclude 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 programming operations. (c) The amounts presented for the 2015 periods include the post-acquisition revenue of Choice , which was acquired on June 3, 2015 . Adjusted OIBDA Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 in millions Liberty Global Group: European Operations Division: U.K./Ireland $ 805.6 $ 829.5 $ 1,568.9 $ 1,621.1 The Netherlands (a) 371.0 185.1 738.9 368.4 Germany 366.9 431.0 730.9 860.0 Belgium 260.8 287.9 507.8 590.0 Switzerland/Austria 259.7 277.4 508.5 541.8 Total Western Europe 2,064.0 2,010.9 4,055.0 3,981.3 Central and Eastern Europe 118.4 147.2 236.5 305.4 Central and other (72.7 ) (71.9 ) (140.6 ) (142.8 ) Total European Operations Division 2,109.7 2,086.2 4,150.9 4,143.9 Corporate and other (52.3 ) (59.6 ) (104.4 ) (105.1 ) Intersegment eliminations (b) — — — 4.0 Total Liberty Global Group 2,057.4 2,026.6 4,046.5 4,042.8 LiLAC Group: LiLAC Division: Chile 87.6 85.8 163.6 168.5 Puerto Rico (c) 40.8 33.4 74.3 62.7 Total LiLAC Division 128.4 119.2 237.9 231.2 Corporate and other (0.8 ) (0.9 ) (2.1 ) (1.6 ) Total LiLAC Group 127.6 118.3 235.8 229.6 Total $ 2,185.0 $ 2,144.9 $ 4,282.3 $ 4,272.4 ______________ (a) The amounts presented for the 2014 periods exclude the Adjusted OIBDA of Ziggo , which was acquired on November 11, 2014. (b) The amount for the six months ended June 30, 2014 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. (c) The amounts presented for the 2015 periods include the post-acquisition Adjusted OIBDA of Choice , which was acquired on June 3, 2015 . |
Total Segment Operating Cash Flow to Earnings (Loss) from Continuing Operations before Income Taxes | The following table provides a reconciliation of total segment Adjusted OIBDA from continuing operations to loss from continuing operations before income taxes: Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 in millions Total segment Adjusted OIBDA from continuing operations $ 2,185.0 $ 2,144.9 $ 4,282.3 $ 4,272.4 Share-based compensation (56.6 ) (54.4 ) (128.0 ) (109.5 ) Depreciation and amortization (1,477.8 ) (1,393.4 ) (2,929.2 ) (2,770.5 ) Impairment, restructuring and other operating items, net (25.7 ) (27.6 ) (42.7 ) (141.2 ) Operating income 624.9 669.5 1,182.4 1,251.2 Interest expense (600.8 ) (641.8 ) (1,216.7 ) (1,295.3 ) Realized and unrealized losses on derivative instruments, net (679.7 ) (328.6 ) (61.2 ) (705.2 ) Foreign currency transaction gains (losses), net 340.4 (36.4 ) (695.2 ) (57.2 ) Realized and unrealized gains due to changes in fair values of certain investments, net 110.8 157.4 262.2 97.2 Losses on debt modification and extinguishment, net (73.8 ) (53.0 ) (348.3 ) (73.9 ) Other income (expense), net (1.7 ) (1.7 ) (2.7 ) 11.6 Loss from continuing operations before income taxes $ (279.9 ) $ (234.6 ) $ (879.5 ) $ (771.6 ) |
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 . Six months ended June 30, 2015 2014 in millions Liberty Global Group: European Operations Division: U.K./Ireland $ 723.2 $ 739.6 The Netherlands (a) 251.9 109.4 Germany 268.1 280.8 Belgium 139.9 211.7 Switzerland/Austria 139.3 158.7 Total Western Europe 1,522.4 1,500.2 Central and Eastern Europe 113.3 106.7 Central and other 162.2 135.7 Total European Operations Division 1,797.9 1,742.6 Corporate and other 41.7 3.9 Total Liberty Global Group 1,839.6 1,746.5 LiLAC Group: Chile 89.6 101.3 Puerto Rico (b) 36.3 33.2 Total LiLAC Group 125.9 134.5 Total property and equipment additions 1,965.5 1,881.0 Assets acquired under capital-related vendor financing arrangements (675.9 ) (401.8 ) Assets acquired under capital leases (74.5 ) (89.8 ) Changes in current liabilities related to capital expenditures 47.3 12.6 Total capital expenditures $ 1,262.4 $ 1,402.0 ______________ (a) The amount presented for the 2014 period excludes the property and equipment additions of Ziggo , which was acquired on November 11, 2014. (b) The amount presented for the 2015 period includes the post-acquisition property and equipment additions of Choice , which was acquired on June 3, 2015 . |
Revenue by Major Category | Our revenue by major category is set forth below: Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 in millions Subscription revenue (a): Video $ 1,607.9 $ 1,663.5 $ 3,217.3 $ 3,305.0 Broadband internet 1,276.7 1,190.6 2,515.9 2,334.5 Fixed-line telephony 801.4 833.0 1,601.1 1,659.4 Cable subscription revenue 3,686.0 3,687.1 7,334.3 7,298.9 Mobile subscription revenue (b) 261.2 273.1 512.9 530.4 Total subscription revenue 3,947.2 3,960.2 7,847.2 7,829.3 B2B revenue (c) 380.5 372.0 754.4 739.0 Other revenue (b) (d) 238.8 270.0 481.8 567.6 Total $ 4,566.5 $ 4,602.2 $ 9,083.4 $ 9,135.9 _______________ (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 $53.1 million and $63.0 million during the three months ended June 30, 2015 and 2014 , respectively, and $107.5 million and $123.8 million during the six months ended June 30, 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, mobile 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 $71.9 million and $55.2 million during the three months ended June 30, 2015 and 2014 , respectively, and $138.5 million and $107.2 million during the six months ended June 30, 2015 and 2014 , respectively, is included in cable subscription revenue. (d) Other revenue includes, among other items, interconnect, mobile handset sales, carriage fee and installation revenue . |
Geographic Segments | The revenue of our geographic segments is set forth below: Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 in millions Liberty Global Group: European Operations Division: U.K. $ 1,662.4 $ 1,774.6 $ 3,274.4 $ 3,502.5 The Netherlands (a) 683.9 316.3 1,391.3 634.4 Germany 591.0 688.8 1,188.9 1,384.7 Belgium 500.3 582.4 1,003.0 1,156.6 Switzerland 357.3 365.3 704.1 718.1 Poland 101.2 121.2 202.2 241.7 Ireland 97.2 122.1 196.6 241.7 Austria 91.5 111.4 184.0 222.4 Hungary 65.2 80.6 130.2 159.3 The Czech Republic 43.8 57.5 88.2 116.3 Romania 38.7 43.5 77.6 87.0 Slovakia 14.8 19.6 30.0 38.8 Other 2.5 0.9 3.4 3.3 Total European Operations Division 4,249.8 4,284.2 8,473.9 8,506.8 Other, including intersegment eliminations 5.3 11.6 10.3 22.8 Total Liberty Global Group 4,255.1 4,295.8 8,484.2 8,529.6 LiLAC Group: Chile 220.8 229.8 429.6 455.1 Puerto Rico (b) 90.6 76.6 169.6 151.3 Total LiLAC Group 311.4 306.4 599.2 606.4 Inter-group eliminations — — — (0.1 ) Total $ 4,566.5 $ 4,602.2 $ 9,083.4 $ 9,135.9 ______________ (a) The amounts presented for the 2014 periods exclude the revenue of Ziggo , which was acquired on November 11, 2014. (b) The amounts presented for the 2015 periods include the post-acquisition revenue of Choice , which was acquired on June 3, 2015 . |
Subsequent Event (Tables)
Subsequent Event (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Subsequent Events [Abstract] | |
Debt Instrument Redemption | Redemption price Year Telenet Finance VI Notes 2021 102.438% 2022 101.219% 2023 100.609% 2024 and thereafter 100.000% |
Basis of Presentation (Narrativ
Basis of Presentation (Narrative) (Details) $ / shares in Units, $ in Millions | Jul. 01, 2015$ / sharesshares | Jun. 30, 2015USD ($)country | Jun. 30, 2015country |
Basis of Presentation [Line Items] | |||
Number of countries in which entity provides services (in countries) | country | 14 | 14 | |
Subsequent Event [Member] | |||
Basis of Presentation [Line Items] | |||
Number of parent company shares for every one distributed share | 20 | ||
Number of distributed shares for every 20 parent company shares | 1 | ||
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) | country | 7 | 7 | |
Mobile Services [Member] | Europe [Member] | |||
Basis of Presentation [Line Items] | |||
Number of countries in which entity provides services (in countries) | country | 4 | 4 | |
LiLAC Group [Member] | Common Class A [Member] | Subsequent Event [Member] | |||
Basis of Presentation [Line Items] | |||
Dividend shares issued (in shares) | 12,625,362 | ||
Common stock, nominal value (in dollars per share) | $ / shares | $ 0.01 | ||
LiLAC Group [Member] | Common Class B [Member] | Subsequent Event [Member] | |||
Basis of Presentation [Line Items] | |||
Dividend shares issued (in shares) | 523,626 | ||
Common stock, nominal value (in dollars per share) | $ / shares | $ 0.01 | ||
LiLAC Group [Member] | Common Class C [Member] | Subsequent Event [Member] | |||
Basis of Presentation [Line Items] | |||
Dividend shares issued (in shares) | 30,776,883 | ||
Common stock, nominal value (in dollars per share) | $ / shares | $ 0.01 | ||
LiLAC Holdings [Member] | |||
Basis of Presentation [Line Items] | |||
Cash capital contribution | $ | $ 100 | ||
Telenet [Member] | |||
Basis of Presentation [Line Items] | |||
Percentage ownership in subsidiary | 57.00% |
Acquisitions (Narrative) (Detai
Acquisitions (Narrative) (Details) € / shares in Units, $ / shares in Units, € in Millions, $ in Millions | Jun. 03, 2015USD ($) | Apr. 18, 2015EUR (€) | Apr. 18, 2015USD ($) | Dec. 09, 2014USD ($) | Nov. 19, 2014shares | Nov. 11, 2014shares | Oct. 10, 2014channel | Dec. 31, 2014EUR (€)€ / sharesshares | Dec. 31, 2014USD ($)$ / sharesshares | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) |
Business Acquisition [Line Items] | |||||||||||||
Total | $ 4,566.5 | $ 4,602.2 | $ 9,083.4 | $ 9,135.9 | |||||||||
Net loss attributable to Liberty Global shareholders | (464.7) | (249.9) | (1,002.2) | (328.7) | |||||||||
Parent Company [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Net loss attributable to Liberty Global shareholders | (464.7) | $ (249.9) | (1,002.2) | $ (328.7) | |||||||||
Base Company NV [Member] | Telenet [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Expected consideration transfered | € 1,324.4 | $ 1,477.1 | |||||||||||
Expected liabilities incurred | 1,000 | 1,115.3 | |||||||||||
Potential termination fee paid to seller | € 100 | $ 111.5 | |||||||||||
Choice Acquisition [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Weighted average useful life of intangible assets | 10 years | ||||||||||||
Direct acquisition costs | $ 8.3 | ||||||||||||
Total | 7.4 | 7.4 | |||||||||||
Net loss attributable to Liberty Global shareholders | $ 0.1 | $ 0.1 | |||||||||||
Choice Acquisition [Member] | Parent Company [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Ownership percentage by parent | 60.00% | ||||||||||||
Consideration transferred | $ 10.2 | ||||||||||||
Choice Acquisition [Member] | Searchlight [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Expected consideration transfered | $ 276.1 | ||||||||||||
Percentage of voting interests acquired | 100.00% | ||||||||||||
Ownership percentage by parent | 40.00% | ||||||||||||
Consideration transferred | $ 6.8 | ||||||||||||
Choice Acquisition [Member] | Liberty Puerto Rico [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Liabilities incurred | $ 259.1 | ||||||||||||
Ziggo Acquisition [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Percentage of voting interests acquired | 100.00% | 100.00% | |||||||||||
Equity interest acquired (in shares) | shares | 136,603,794 | ||||||||||||
Percentage of voting interests owned | 88.90% | ||||||||||||
Ziggo NCI Acquisition [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Ownership percentage by parent | 98.40% | ||||||||||||
Equity interest acquired (in shares) | shares | 18,998,057 | ||||||||||||
Ziggo Statutory Squeeze-Out [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Equity interest acquired (in shares) | shares | 3,162,605 | 3,162,605 | |||||||||||
Equity interest transferred in cash (in euro / dollars per share) | (per share) | € 39.78 | $ 44.37 | |||||||||||
Equity interest transferred in cash | € 125.9 | $ 142.2 | |||||||||||
Ziggo Merger Agreement [Member] | Film1 [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Commitment term | 3 years | ||||||||||||
Number of channels in agreement | channel | 5 |
Acquisitions (Schedule of Asset
Acquisitions (Schedule of Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Jun. 03, 2015 | Dec. 31, 2014 |
Business Acquisition [Line Items] | |||
Goodwill | $ 28,159 | $ 29,001.6 | |
Choice Acquisition [Member] | |||
Business Acquisition [Line Items] | |||
Cash and cash equivalents | $ 3.6 | ||
Other current assets | 7.8 | ||
Property and equipment, net | 80.4 | ||
Goodwill | 51.5 | ||
Intangible assets subject to amortization | 58.9 | ||
Franchise rights | 147.6 | ||
Other assets, net | 0.3 | ||
Other accrued and current liabilities | (13.2) | ||
Non-current deferred tax liabilities | (60.8) | ||
Total purchase price | $ 276.1 |
Acquisitions (Pro Forma Informa
Acquisitions (Pro Forma Information) (Details) - Ziggo and Choice Acquisition [Member] - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Business Acquisition [Line Items] | ||||
Revenue | $ 4,581.5 | $ 5,175.8 | $ 9,120.5 | $ 10,293.3 |
Liberty Global Group | (464.8) | (444.4) | (1,000.4) | (662.6) |
Intergroup Eliminations [Member] | ||||
Business Acquisition [Line Items] | ||||
Revenue | 0 | 0 | 0 | (0.1) |
Liberty Global Group [Member] | ||||
Business Acquisition [Line Items] | ||||
Revenue | 4,255.1 | 4,847.7 | 8,484.2 | 9,643.7 |
Liberty Global Group | $ (457.3) | $ (452) | $ (1,025.4) | $ (603.3) |
Basic and diluted loss attributable to Liberty Global shareholders per share: | $ (0.53) | $ (0.49) | $ (1.13) | $ (0.73) |
Liberty Global Group [Member] | Continuing Operations [Member] | ||||
Business Acquisition [Line Items] | ||||
Revenue | $ 4,255.1 | $ 4,847.7 | $ 8,484.2 | $ 9,617.1 |
Liberty Global Group [Member] | Discontinued Operations [Member] | ||||
Business Acquisition [Line Items] | ||||
Revenue | 0 | 0 | 0 | 26.6 |
LiLAC Group [Member] | ||||
Business Acquisition [Line Items] | ||||
Revenue | 326.4 | 328.1 | 636.3 | 649.7 |
Liberty Global Group | $ (7.5) | $ 7.6 | $ 25 | $ (59.3) |
Derivative Instruments (Narrati
Derivative Instruments (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Derivative [Line Items] | |||||
Derivative assets | $ 1,958.8 | $ 1,958.8 | $ 1,761.4 | ||
VM Convertible Senior Notes [Member] | |||||
Derivative [Line Items] | |||||
Interest rate | 6.50% | 6.50% | |||
Cross-currency and interest rate derivative contracts | |||||
Derivative [Line Items] | |||||
Valuation adjustment in asset cross currency and interest rate derivative contracts | $ 63.3 | $ 63.3 | 30.9 | ||
Valuation adjustment in liability cross currency and interest rate derivative contracts | 155.4 | 155.4 | 64.6 | ||
Gain (loss) in changes in the credit risk valuation adjustments associated with our cross-currency and interest rate derivative contracts | 77.2 | $ (19.4) | 60.3 | $ (48.9) | |
Derivative assets | 1,616.7 | 1,616.7 | $ 1,357.3 | ||
Counterparty Credit Risk [Member] | |||||
Derivative [Line Items] | |||||
Derivative assets | $ 1,559.9 | $ 1,559.9 |
Derivative Instruments (Fair Va
Derivative Instruments (Fair Values of Derivative Assets and Liabilities) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Assets: | ||
Current | $ 248.3 | $ 446.6 |
Long-term | 1,710.5 | 1,314.8 |
Total | 1,958.8 | 1,761.4 |
Liabilities: | ||
Current | 385.2 | 1,043.7 |
Long-term | 1,871.5 | 1,517.1 |
Total | 2,256.7 | 2,560.8 |
Cross-currency and interest rate derivative contracts | ||
Assets: | ||
Current | 187.8 | 443.6 |
Long-term | 1,428.9 | 913.7 |
Total | 1,616.7 | 1,357.3 |
Liabilities: | ||
Current | 342.4 | 1,027.4 |
Long-term | 1,639.5 | 1,443.9 |
Total | 1,981.9 | 2,471.3 |
Equity Contract [Member] | ||
Assets: | ||
Total | 334.7 | 400.2 |
Liabilities: | ||
Total | 265.3 | 88.4 |
Foreign Exchange Forward [Member] | ||
Assets: | ||
Current | 4.9 | 2.5 |
Long-term | 0 | 0 |
Total | 4.9 | 2.5 |
Liabilities: | ||
Current | 9.3 | 0.8 |
Long-term | 0 | 0 |
Total | 9.3 | 0.8 |
Other | ||
Assets: | ||
Total | 2.5 | 1.4 |
Liabilities: | ||
Total | 0.2 | 0.3 |
Liberty Global Group [Member] | ||
Assets: | ||
Current | 245 | 445.5 |
Long-term | 1,521.1 | 1,213.6 |
Total | 1,766.1 | 1,659.1 |
Liabilities: | ||
Current | 352.6 | 1,004 |
Long-term | 1,868.5 | 1,517.1 |
Total | 2,221.1 | 2,521.1 |
Liberty Global Group [Member] | Cross-currency and interest rate derivative contracts | ||
Assets: | ||
Current | 187.8 | 443.6 |
Long-term | 1,239.5 | 812.5 |
Total | 1,427.3 | 1,256.1 |
Liabilities: | ||
Current | 309.8 | 987.9 |
Long-term | 1,636.5 | 1,443.9 |
Total | 1,946.3 | 2,431.8 |
Liberty Global Group [Member] | Equity Contract [Member] | ||
Assets: | ||
Current | 54.1 | 0 |
Long-term | 280.6 | 400.2 |
Total | 334.7 | 400.2 |
Liabilities: | ||
Current | 33.4 | 15.3 |
Long-term | 231.9 | 73.1 |
Total | 265.3 | 88.4 |
Liberty Global Group [Member] | Foreign Exchange Forward [Member] | ||
Assets: | ||
Current | 1.6 | 1.4 |
Long-term | 0 | 0 |
Total | 1.6 | 1.4 |
Liabilities: | ||
Current | 9.3 | 0.6 |
Long-term | 0 | 0 |
Total | 9.3 | 0.6 |
Liberty Global Group [Member] | Other | ||
Assets: | ||
Current | 1.5 | 0.5 |
Long-term | 1 | 0.9 |
Total | 2.5 | 1.4 |
Liabilities: | ||
Current | 0.1 | 0.2 |
Long-term | 0.1 | 0.1 |
Total | 0.2 | 0.3 |
LiLAC Group [Member] | ||
Assets: | ||
Current | 3.3 | 1.1 |
Long-term | 189.4 | 101.2 |
Total | 192.7 | 102.3 |
Liabilities: | ||
Current | 32.6 | 39.7 |
Long-term | 3 | 0 |
Total | 35.6 | 39.7 |
LiLAC Group [Member] | Cross-currency and interest rate derivative contracts | ||
Assets: | ||
Current | 0 | 0 |
Long-term | 189.4 | 101.2 |
Total | 189.4 | 101.2 |
Liabilities: | ||
Current | 32.6 | 39.5 |
Long-term | 3 | 0 |
Total | 35.6 | 39.5 |
LiLAC Group [Member] | Foreign Exchange Forward [Member] | ||
Assets: | ||
Current | 3.3 | 1.1 |
Long-term | 0 | 0 |
Total | 3.3 | 1.1 |
Liabilities: | ||
Current | 0 | 0.2 |
Long-term | 0 | 0 |
Total | $ 0 | $ 0.2 |
Derivative Instruments (Realize
Derivative Instruments (Realized and Unrealized Gains (Losses) on Derivatives) (Schedule and Footnotes) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Derivative [Line Items] | ||||
Gain (loss) on derivative instruments, net | $ (679.7) | $ (328.6) | $ (61.2) | $ (705.2) |
Cross-currency and interest rate derivative contracts | ||||
Derivative [Line Items] | ||||
Gain (loss) on derivative instruments, net | (548.3) | (285.7) | 192.2 | (705.9) |
Foreign Exchange Contract [Member] | ||||
Derivative [Line Items] | ||||
Gain (loss) on derivative instruments, net | (16.3) | 0.4 | (24.4) | 20.4 |
Liberty Global Group [Member] | ||||
Derivative [Line Items] | ||||
Gain (loss) on derivative instruments, net | (680.9) | (330.4) | (141.8) | (580.4) |
Liberty Global Group [Member] | Cross-currency and interest rate derivative contracts | ||||
Derivative [Line Items] | ||||
Gain (loss) on derivative instruments, net | (547.7) | (287.6) | 114.6 | (580.3) |
Liberty Global Group [Member] | Foreign Exchange Contract [Member] | ||||
Derivative [Line Items] | ||||
Gain (loss) on derivative instruments, net | (18.1) | 0.5 | (27.4) | 19.6 |
Liberty Global Group [Member] | Equity Contract [Member] | ||||
Derivative [Line Items] | ||||
Gain (loss) on derivative instruments, net | (114.8) | (44.4) | (229.7) | (20.3) |
Liberty Global Group [Member] | Other | ||||
Derivative [Line Items] | ||||
Gain (loss) on derivative instruments, net | (0.3) | 1.1 | 0.7 | 0.6 |
Liberty Global Group [Member] | ITV Collar [Member] | Equity Contract [Member] | ||||
Derivative [Line Items] | ||||
Gain (loss) on derivative instruments, net | (53.5) | 0 | (158.9) | 0 |
Liberty Global Group [Member] | Sumitomo Collar [Member] | Equity Contract [Member] | ||||
Derivative [Line Items] | ||||
Gain (loss) on derivative instruments, net | (61.8) | (23.8) | (71.9) | (15.3) |
Liberty Global Group [Member] | Ziggo Collar [Member] | Equity Contract [Member] | ||||
Derivative [Line Items] | ||||
Gain (loss) on derivative instruments, net | 0 | (21.3) | 0 | (5.9) |
Liberty Global Group [Member] | Other [Member] | Equity Contract [Member] | ||||
Derivative [Line Items] | ||||
Gain (loss) on derivative instruments, net | 0.5 | 0.7 | 1.1 | 0.9 |
LiLAC Group [Member] | ||||
Derivative [Line Items] | ||||
Gain (loss) on derivative instruments, net | 1.2 | 1.8 | 80.6 | (124.8) |
LiLAC Group [Member] | Cross-currency and interest rate derivative contracts | ||||
Derivative [Line Items] | ||||
Gain (loss) on derivative instruments, net | (0.6) | 1.9 | 77.6 | (125.6) |
LiLAC Group [Member] | Foreign Exchange Contract [Member] | ||||
Derivative [Line Items] | ||||
Gain (loss) on derivative instruments, net | $ 1.8 | $ (0.1) | $ 3 | $ 0.8 |
Derivative Instruments (Net Cas
Derivative Instruments (Net Cash Received (Paid) Related to Derivatives) (Schedule) (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Derivative [Line Items] | ||
Operating activities | $ (179) | $ (248.5) |
Financing activities | (303.3) | (177.6) |
Total | (482.7) | (426.1) |
Liberty Global Group [Member] | ||
Derivative [Line Items] | ||
Operating activities | (161.3) | (252.1) |
Financing activities | (303.3) | (140.2) |
Total | (464.6) | (392.3) |
LiLAC Group [Member] | ||
Derivative [Line Items] | ||
Operating activities | (17.7) | 3.6 |
Payments for (Proceeds from) Derivative Instrument, Investing Activities | (0.4) | 0 |
Financing activities | 0 | (37.4) |
Total | $ (18.1) | $ (33.8) |
Derivative Instruments (Cross-c
Derivative Instruments (Cross-currency Swaps) (Schedule) (Details) - Jun. 30, 2015 - Cross-currency and interest rate derivative contracts € in Millions, £ in Millions, SFr in Millions, RON in Millions, PLN in Millions, HUF in Millions, CZK in Millions, CLP in Millions, $ in Millions | GBP (£) | HUF | CHF (SFr) | CZK | PLN | EUR (€) | USD ($) | CLP | RON |
Due From Counterparty [Member] | January 2023 400.0 USD 339.6 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 400 | ||||||||
Derivative Interest Rate | 5.75% | 5.75% | 5.75% | 5.75% | 5.75% | 5.75% | 5.75% | 5.75% | 5.75% |
Due From Counterparty [Member] | June 2023 1855.0 USD 1198.3 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 1,855 | ||||||||
Derivative Interest Rate Referenced | 6 mo. LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% |
Due From Counterparty [Member] | February 2022 1400.0 USD 873.6 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 1,400 | ||||||||
Derivative Interest Rate | 5.01% | 5.01% | 5.01% | 5.01% | 5.01% | 5.01% | 5.01% | 5.01% | 5.01% |
Due From Counterparty [Member] | January 2023 1000.0 USD 648.6 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 1,000 | ||||||||
Derivative Interest Rate | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% |
Due From Counterparty [Member] | January 2021 500.0 USD 308.9 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 500 | ||||||||
Derivative Interest Rate | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% |
Due From Counterparty [Member] | October 2022 450.0 USD 272.0 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 450 | ||||||||
Derivative Interest Rate | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% |
Due From Counterparty [Member] | January 2022 425.0 USD 255.8 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 425 | ||||||||
Derivative Interest Rate | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% |
Due From Counterparty [Member] | April 2019 191.5 USD 122.3 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 191.5 | ||||||||
Derivative Interest Rate | 5.38% | 5.38% | 5.38% | 5.38% | 5.38% | 5.38% | 5.38% | 5.38% | 5.38% |
Due From Counterparty [Member] | November 2016 55.0 USD 27.7 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 55 | ||||||||
Derivative Interest Rate | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% |
Due From Counterparty [Member] | October 2019 170.0 USD 102.9 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 50 | ||||||||
Derivative Interest Rate | 8.38% | 8.38% | 8.38% | 8.38% | 8.38% | 8.38% | 8.38% | 8.38% | 8.38% |
Due From Counterparty [Member] | October 2019 - October 2022 50.0 USD 30.7 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 50 | ||||||||
Derivative Interest Rate | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% |
Due From Counterparty [Member] | January 2023 1140.0 USD 1043.7 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 1,140 | ||||||||
Derivative Interest Rate | 5.38% | 5.38% | 5.38% | 5.38% | 5.38% | 5.38% | 5.38% | 5.38% | 5.38% |
Due From Counterparty [Member] | July 2021 440.0 USD 337.2 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 440 | ||||||||
Derivative Interest Rate Referenced | 6 mo. LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% |
Due From Counterparty [Member] | January 2017 - July 2021 262.1 USD 194.1 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 262.1 | ||||||||
Derivative Interest Rate Referenced | 6 mo. LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% |
Due From Counterparty [Member] | January 2020 252.5 USD 192.5 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 252.5 | ||||||||
Derivative Interest Rate Referenced | 6 mo. LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 4.93% | 4.93% | 4.93% | 4.93% | 4.93% | 4.93% | 4.93% | 4.93% | 4.93% |
Due From Counterparty [Member] | November 2019 250.0 USD 181.5 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 250 | ||||||||
Derivative Interest Rate | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% |
Due From Counterparty [Member] | November 2021 250.0 USD 181.4 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 250 | ||||||||
Derivative Interest Rate | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% |
Due From Counterparty [Member] | October 2020 125.0 USD 91.3 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 125 | ||||||||
Derivative Interest Rate Referenced | 6 mo. LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% |
Due From Counterparty [Member] | January 2020 122.5 USD 93.4 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 122.5 | ||||||||
Derivative Interest Rate Referenced | 6 mo. LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 4.94% | 4.94% | 4.94% | 4.94% | 4.94% | 4.94% | 4.94% | 4.94% | 4.94% |
Due From Counterparty [Member] | December 2016 340.0 USD [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 340 | ||||||||
Derivative Interest Rate Referenced | 6 mo. LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% |
Due From Counterparty [Member] | July 2016 - January 2020 225.0 USD 206.3 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 225 | ||||||||
Derivative Interest Rate Referenced | 6 mo. LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 4.81% | 4.81% | 4.81% | 4.81% | 4.81% | 4.81% | 4.81% | 4.81% | 4.81% |
Due From Counterparty [Member] | July 2016 225.0 USD 206.3 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 225 | ||||||||
Derivative Interest Rate Referenced | 6 mo. LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 4.81% | 4.81% | 4.81% | 4.81% | 4.81% | 4.81% | 4.81% | 4.81% | 4.81% |
Due From Counterparty [Member] | July 2021 200.0 USD 186.0 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 200 | ||||||||
Derivative Interest Rate Referenced | 6 mo. LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% |
Due From Counterparty [Member] | January 2017 - July 2023 200.0 USD 185.5 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 200 | ||||||||
Derivative Interest Rate Referenced | 6 mo. LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% |
Due From Counterparty [Member] | November 2019 175.0 USD 158.7 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 175 | ||||||||
Derivative Interest Rate | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% |
Due From Counterparty [Member] | January 2017 - July 2021 100.0 USD 92.8 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 100 | ||||||||
Derivative Interest Rate Referenced | 6 mo. LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% |
Due From Counterparty [Member] | July 2016 201.5 USD 489.3 RON [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 201.5 | ||||||||
Derivative Interest Rate Referenced | 6 mo. LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% |
Due From Counterparty [Member] | July 2016 - July 2020 201.5 USD 489.3 RON [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 201.5 | ||||||||
Derivative Interest Rate Referenced | 6 mo. LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% |
Due From Counterparty [Member] | January 2021 720.8 EUR 877.0 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 720.8 | ||||||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% |
Due From Counterparty [Member] | January 2017 - September 2022 383.8 EUR 477.0 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 383.8 | ||||||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% |
Due From Counterparty [Member] | January 2017 360.4 EUR 589.0 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 360.4 | ||||||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% |
Due From Counterparty [Member] | April 2018 285.1 EUR 346.7 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 285.1 | ||||||||
Derivative Interest Rate | 10.51% | 10.51% | 10.51% | 10.51% | 10.51% | 10.51% | 10.51% | 10.51% | 10.51% |
Due From Counterparty [Member] | January 2020 175Euro 258.6Chf [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 175 | ||||||||
Derivative Interest Rate | 7.63% | 7.63% | 7.63% | 7.63% | 7.63% | 7.63% | 7.63% | 7.63% | 7.63% |
Due From Counterparty [Member] | July 2020 107.4 EUR 129.0 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 107.4 | ||||||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% |
Due From Counterparty [Member] | July 2023 85.3 EUR 95.0 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 85.3 | ||||||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 2.21% | 2.21% | 2.21% | 2.21% | 2.21% | 2.21% | 2.21% | 2.21% | 2.21% |
Due From Counterparty [Member] | July 2021 76.1 EUR 92.1 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 76.1 | ||||||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% |
Due From Counterparty [Member] | January 2017 75.0 EUR 110.9 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 75 | ||||||||
Derivative Interest Rate | 7.63% | 7.63% | 7.63% | 7.63% | 7.63% | 7.63% | 7.63% | 7.63% | 7.63% |
Due From Counterparty [Member] | December 2015 69.1 EUR 53,000.0 CLP [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 69.1 | ||||||||
Derivative Interest Rate | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% |
Due From Counterparty [Member] | January 2020 318.9 EUR 8818.7 CZK [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 318.9 | ||||||||
Derivative Interest Rate | 5.58% | 5.58% | 5.58% | 5.58% | 5.58% | 5.58% | 5.58% | 5.58% | 5.58% |
Due From Counterparty [Member] | January 2017 60.0 EUR 1703.1 CZK [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 60 | ||||||||
Derivative Interest Rate | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% |
Due From Counterparty [Member] | July 2017 39.6 EUR 1,000.0 CZK [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 39.6 | ||||||||
Derivative Interest Rate | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% |
Due From Counterparty [Member] | July 2016 260.0 EUR 75570.0 HUF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 260 | ||||||||
Derivative Interest Rate | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% |
Due From Counterparty [Member] | July 2016 - January 2017 260.0 EUR 75570.0 HUF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 260 | ||||||||
Derivative Interest Rate | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% |
Due From Counterparty [Member] | December 2016 150Euro 43367.5Huf [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 150 | ||||||||
Derivative Interest Rate | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% |
Due From Counterparty [Member] | July 2018 78Euro 19500Huf [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 78 | ||||||||
Derivative Interest Rate | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% |
Due From Counterparty [Member] | January 2017 245.0 EUR 1000.6 PLN [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 245 | ||||||||
Derivative Interest Rate | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% |
Due From Counterparty [Member] | September 2016 200.0 EUR 892.7 PLN [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 200 | ||||||||
Derivative Interest Rate | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% |
Due From Counterparty [Member] | January 2020 144.6 EUR 605.0 PLN [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 144.6 | ||||||||
Derivative Interest Rate | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% |
Due From Counterparty [Member] | July 2017 82Euro 318Pln [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 82 | ||||||||
Derivative Interest Rate | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% |
Due From Counterparty [Member] | December 2015 53,000.0 CLP 69.1 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | CLP | CLP 53,000 | ||||||||
Derivative Interest Rate | 5.75% | 5.75% | 5.75% | 5.75% | 5.75% | 5.75% | 5.75% | 5.75% | 5.75% |
Due From Counterparty [Member] | January 2022 2,350.0 USD 1,727.0 EUR [Member] | Amsterdamse Beheer-en Consultingmaatschappij BV (ABC B.V.), a subsidiary of Ziggo [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 2,350 | ||||||||
Derivative Interest Rate Referenced | 6 mo. LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% |
Due From Counterparty [Member] | January 2023 400.0 USD 339.0 EUR [Member] | Amsterdamse Beheer-en Consultingmaatschappij BV (ABC B.V.), a subsidiary of Ziggo [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 400 | ||||||||
Derivative Interest Rate | 5.88% | 5.88% | 5.88% | 5.88% | 5.88% | 5.88% | 5.88% | 5.88% | 5.88% |
Due From Counterparty [Member] | January 2023 1,652.9 USD 1,252.5 EUR [Member] | Unitymedia Hessen [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 1,652.9 | ||||||||
Derivative Interest Rate | 5.67% | 5.67% | 5.67% | 5.67% | 5.67% | 5.67% | 5.67% | 5.67% | 5.67% |
Due From Counterparty [Member] | January 2021 1000.0 USD 688.2 EUR [Member] | Unitymedia Hessen [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 797.1 | ||||||||
Derivative Interest Rate | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% |
Due From Counterparty [Member] | January 2022 1,400.0 USD 760,340.0 CLP [Member] | VTR [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ | $ 1,400 | ||||||||
Derivative Interest Rate | 6.88% | 6.88% | 6.88% | 6.88% | 6.88% | 6.88% | 6.88% | 6.88% | 6.88% |
Due To Counterparty [Member] | January 2023 400.0 USD 339.6 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 339.6 | ||||||||
Derivative Interest Rate | 4.33% | 4.33% | 4.33% | 4.33% | 4.33% | 4.33% | 4.33% | 4.33% | 4.33% |
Due To Counterparty [Member] | June 2023 1855.0 USD 1198.3 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | £ | £ 1,198.3 | ||||||||
Derivative Interest Rate Referenced | 6 mo. GBP LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 3.18% | 3.18% | 3.18% | 3.18% | 3.18% | 3.18% | 3.18% | 3.18% | 3.18% |
Due To Counterparty [Member] | February 2022 1400.0 USD 873.6 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | £ | £ 873.6 | ||||||||
Derivative Interest Rate | 5.49% | 5.49% | 5.49% | 5.49% | 5.49% | 5.49% | 5.49% | 5.49% | 5.49% |
Due To Counterparty [Member] | January 2023 1000.0 USD 648.6 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | £ | £ 648.6 | ||||||||
Derivative Interest Rate | 5.32% | 5.32% | 5.32% | 5.32% | 5.32% | 5.32% | 5.32% | 5.32% | 5.32% |
Due To Counterparty [Member] | January 2021 500.0 USD 308.9 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | £ | £ 308.9 | ||||||||
Derivative Interest Rate Referenced | 6 mo. GBP LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 2.06% | 2.06% | 2.06% | 2.06% | 2.06% | 2.06% | 2.06% | 2.06% | 2.06% |
Due To Counterparty [Member] | October 2022 450.0 USD 272.0 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | £ | £ 272 | ||||||||
Derivative Interest Rate | 6.43% | 6.43% | 6.43% | 6.43% | 6.43% | 6.43% | 6.43% | 6.43% | 6.43% |
Due To Counterparty [Member] | January 2022 425.0 USD 255.8 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | £ | £ 255.8 | ||||||||
Derivative Interest Rate | 5.82% | 5.82% | 5.82% | 5.82% | 5.82% | 5.82% | 5.82% | 5.82% | 5.82% |
Due To Counterparty [Member] | April 2019 191.5 USD 122.3 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | £ | £ 122.3 | ||||||||
Derivative Interest Rate | 5.49% | 5.49% | 5.49% | 5.49% | 5.49% | 5.49% | 5.49% | 5.49% | 5.49% |
Due To Counterparty [Member] | November 2016 55.0 USD 27.7 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | £ | £ 27.7 | ||||||||
Derivative Interest Rate | 7.03% | 7.03% | 7.03% | 7.03% | 7.03% | 7.03% | 7.03% | 7.03% | 7.03% |
Due To Counterparty [Member] | October 2019 170.0 USD 102.9 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | £ | £ 30.3 | ||||||||
Derivative Interest Rate | 8.98% | 8.98% | 8.98% | 8.98% | 8.98% | 8.98% | 8.98% | 8.98% | 8.98% |
Due To Counterparty [Member] | October 2019 - October 2022 50.0 USD 30.7 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | £ | £ 30.7 | ||||||||
Derivative Interest Rate | 5.75% | 5.75% | 5.75% | 5.75% | 5.75% | 5.75% | 5.75% | 5.75% | 5.75% |
Due To Counterparty [Member] | January 2023 1140.0 USD 1043.7 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 1,043.7 | ||||||||
Derivative Interest Rate | 3.71% | 3.71% | 3.71% | 3.71% | 3.71% | 3.71% | 3.71% | 3.71% | 3.71% |
Due To Counterparty [Member] | July 2021 440.0 USD 337.2 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 337.2 | ||||||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 2.87% | 2.87% | 2.87% | 2.87% | 2.87% | 2.87% | 2.87% | 2.87% | 2.87% |
Due To Counterparty [Member] | January 2017 - July 2021 262.1 USD 194.1 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 194.1 | ||||||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 2.51% | 2.51% | 2.51% | 2.51% | 2.51% | 2.51% | 2.51% | 2.51% | 2.51% |
Due To Counterparty [Member] | January 2020 252.5 USD 192.5 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 192.5 | ||||||||
Derivative Interest Rate | 7.49% | 7.49% | 7.49% | 7.49% | 7.49% | 7.49% | 7.49% | 7.49% | 7.49% |
Due To Counterparty [Member] | November 2019 250.0 USD 181.5 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 181.5 | ||||||||
Derivative Interest Rate | 7.74% | 7.74% | 7.74% | 7.74% | 7.74% | 7.74% | 7.74% | 7.74% | 7.74% |
Due To Counterparty [Member] | November 2021 250.0 USD 181.4 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 181.4 | ||||||||
Derivative Interest Rate | 7.50% | 7.50% | 7.50% | 7.50% | 7.50% | 7.50% | 7.50% | 7.50% | 7.50% |
Due To Counterparty [Member] | October 2020 125.0 USD 91.3 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 91.3 | ||||||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 3.04% | 3.04% | 3.04% | 3.04% | 3.04% | 3.04% | 3.04% | 3.04% | 3.04% |
Due To Counterparty [Member] | January 2020 122.5 USD 93.4 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 93.4 | ||||||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 4.87% | 4.87% | 4.87% | 4.87% | 4.87% | 4.87% | 4.87% | 4.87% | 4.87% |
Due To Counterparty [Member] | December 2016 340.0 USD [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | SFr | SFr 370.9 | ||||||||
Derivative Interest Rate Referenced | 6 mo. CHF LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 4.01% | 4.01% | 4.01% | 4.01% | 4.01% | 4.01% | 4.01% | 4.01% | 4.01% |
Due To Counterparty [Member] | July 2016 - January 2020 225.0 USD 206.3 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | SFr | SFr 206.3 | ||||||||
Derivative Interest Rate | 5.44% | 5.44% | 5.44% | 5.44% | 5.44% | 5.44% | 5.44% | 5.44% | 5.44% |
Due To Counterparty [Member] | July 2016 225.0 USD 206.3 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | SFr | SFr 206.3 | ||||||||
Derivative Interest Rate | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% |
Due To Counterparty [Member] | July 2021 200.0 USD 186.0 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | SFr | SFr 186 | ||||||||
Derivative Interest Rate Referenced | 6 mo. CHF LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 2.55% | 2.55% | 2.55% | 2.55% | 2.55% | 2.55% | 2.55% | 2.55% | 2.55% |
Due To Counterparty [Member] | January 2017 - July 2023 200.0 USD 185.5 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | SFr | SFr 185.5 | ||||||||
Derivative Interest Rate Referenced | 6 mo. CHF LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 2.48% | 2.48% | 2.48% | 2.48% | 2.48% | 2.48% | 2.48% | 2.48% | 2.48% |
Due To Counterparty [Member] | November 2019 175.0 USD 158.7 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | SFr | SFr 158.7 | ||||||||
Derivative Interest Rate Referenced | 6 mo. CHF LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 5.01% | 5.01% | 5.01% | 5.01% | 5.01% | 5.01% | 5.01% | 5.01% | 5.01% |
Due To Counterparty [Member] | January 2017 - July 2021 100.0 USD 92.8 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | SFr | SFr 92.8 | ||||||||
Derivative Interest Rate Referenced | 6 mo. CHF LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 2.49% | 2.49% | 2.49% | 2.49% | 2.49% | 2.49% | 2.49% | 2.49% | 2.49% |
Due To Counterparty [Member] | July 2016 201.5 USD 489.3 RON [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | RON | RON 489.3 | ||||||||
Derivative Interest Rate | 1.40% | 1.40% | 1.40% | 1.40% | 1.40% | 1.40% | 1.40% | 1.40% | 1.40% |
Due To Counterparty [Member] | July 2016 - July 2020 201.5 USD 489.3 RON [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | RON | RON 489.3 | ||||||||
Derivative Interest Rate | 11.34% | 11.34% | 11.34% | 11.34% | 11.34% | 11.34% | 11.34% | 11.34% | 11.34% |
Due To Counterparty [Member] | January 2021 720.8 EUR 877.0 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | SFr | SFr 877 | ||||||||
Derivative Interest Rate Referenced | 6 mo. CHF LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 2.62% | 2.62% | 2.62% | 2.62% | 2.62% | 2.62% | 2.62% | 2.62% | 2.62% |
Due To Counterparty [Member] | January 2017 - September 2022 383.8 EUR 477.0 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | SFr | SFr 477 | ||||||||
Derivative Interest Rate Referenced | 6 mo. CHF LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 2.22% | 2.22% | 2.22% | 2.22% | 2.22% | 2.22% | 2.22% | 2.22% | 2.22% |
Due To Counterparty [Member] | January 2017 360.4 EUR 589.0 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | SFr | SFr 589 | ||||||||
Derivative Interest Rate Referenced | 6 mo. CHF LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 3.94% | 3.94% | 3.94% | 3.94% | 3.94% | 3.94% | 3.94% | 3.94% | 3.94% |
Due To Counterparty [Member] | April 2018 285.1 EUR 346.7 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | SFr | SFr 346.7 | ||||||||
Derivative Interest Rate | 9.87% | 9.87% | 9.87% | 9.87% | 9.87% | 9.87% | 9.87% | 9.87% | 9.87% |
Due To Counterparty [Member] | January 2020 175Euro 258.6Chf [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | SFr | SFr 258.6 | ||||||||
Derivative Interest Rate | 6.76% | 6.76% | 6.76% | 6.76% | 6.76% | 6.76% | 6.76% | 6.76% | 6.76% |
Due To Counterparty [Member] | July 2020 107.4 EUR 129.0 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | SFr | SFr 129 | ||||||||
Derivative Interest Rate Referenced | 6 mo. CHF LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 3.28% | 3.28% | 3.28% | 3.28% | 3.28% | 3.28% | 3.28% | 3.28% | 3.28% |
Due To Counterparty [Member] | July 2023 85.3 EUR 95.0 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | SFr | SFr 95 | ||||||||
Derivative Interest Rate Referenced | 6 mo. CHF LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 2.65% | 2.65% | 2.65% | 2.65% | 2.65% | 2.65% | 2.65% | 2.65% | 2.65% |
Due To Counterparty [Member] | July 2021 76.1 EUR 92.1 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | SFr | SFr 92.1 | ||||||||
Derivative Interest Rate Referenced | 6 mo. CHF LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 2.88% | 2.88% | 2.88% | 2.88% | 2.88% | 2.88% | 2.88% | 2.88% | 2.88% |
Due To Counterparty [Member] | January 2017 75.0 EUR 110.9 CHF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | SFr | SFr 110.9 | ||||||||
Derivative Interest Rate | 6.98% | 6.98% | 6.98% | 6.98% | 6.98% | 6.98% | 6.98% | 6.98% | 6.98% |
Due To Counterparty [Member] | December 2015 69.1 EUR 53,000.0 CLP [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | CLP | CLP 53,000 | ||||||||
Derivative Interest Rate | 5.75% | 5.75% | 5.75% | 5.75% | 5.75% | 5.75% | 5.75% | 5.75% | 5.75% |
Due To Counterparty [Member] | January 2020 318.9 EUR 8818.7 CZK [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | CZK | CZK 8,818.7 | ||||||||
Derivative Interest Rate | 5.44% | 5.44% | 5.44% | 5.44% | 5.44% | 5.44% | 5.44% | 5.44% | 5.44% |
Due To Counterparty [Member] | January 2017 60.0 EUR 1703.1 CZK [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | CZK | CZK 1,703.1 | ||||||||
Derivative Interest Rate | 6.99% | 6.99% | 6.99% | 6.99% | 6.99% | 6.99% | 6.99% | 6.99% | 6.99% |
Due To Counterparty [Member] | July 2017 39.6 EUR 1,000.0 CZK [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | CZK | CZK 1,000 | ||||||||
Derivative Interest Rate | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% |
Due To Counterparty [Member] | July 2016 260.0 EUR 75570.0 HUF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | HUF | HUF 75,570 | ||||||||
Derivative Interest Rate | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% |
Due To Counterparty [Member] | July 2016 - January 2017 260.0 EUR 75570.0 HUF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | HUF | HUF 75,570 | ||||||||
Derivative Interest Rate | 10.56% | 10.56% | 10.56% | 10.56% | 10.56% | 10.56% | 10.56% | 10.56% | 10.56% |
Due To Counterparty [Member] | December 2016 150Euro 43367.5Huf [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | HUF | HUF 43,367.5 | ||||||||
Derivative Interest Rate | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% |
Due To Counterparty [Member] | July 2018 78Euro 19500Huf [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | HUF | HUF 19,500 | ||||||||
Derivative Interest Rate | 9.15% | 9.15% | 9.15% | 9.15% | 9.15% | 9.15% | 9.15% | 9.15% | 9.15% |
Due To Counterparty [Member] | January 2017 245.0 EUR 1000.6 PLN [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | PLN | PLN 1,000.6 | ||||||||
Derivative Interest Rate | 9.03% | 9.03% | 9.03% | 9.03% | 9.03% | 9.03% | 9.03% | 9.03% | 9.03% |
Due To Counterparty [Member] | September 2016 200.0 EUR 892.7 PLN [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | PLN | PLN 892.7 | ||||||||
Derivative Interest Rate | 3.91% | 3.91% | 3.91% | 3.91% | 3.91% | 3.91% | 3.91% | 3.91% | 3.91% |
Due To Counterparty [Member] | January 2020 144.6 EUR 605.0 PLN [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | PLN | PLN 605 | ||||||||
Derivative Interest Rate | 7.98% | 7.98% | 7.98% | 7.98% | 7.98% | 7.98% | 7.98% | 7.98% | 7.98% |
Due To Counterparty [Member] | July 2017 82Euro 318Pln [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | PLN | PLN 318 | ||||||||
Derivative Interest Rate | 5.60% | 5.60% | 5.60% | 5.60% | 5.60% | 5.60% | 5.60% | 5.60% | 5.60% |
Due To Counterparty [Member] | December 2015 53,000.0 CLP 69.1 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 69.1 | ||||||||
Derivative Interest Rate | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% |
Due To Counterparty [Member] | January 2022 2,350.0 USD 1,727.0 EUR [Member] | Amsterdamse Beheer-en Consultingmaatschappij BV (ABC B.V.), a subsidiary of Ziggo [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 1,727 | ||||||||
Derivative Interest Rate | 4.56% | 4.56% | 4.56% | 4.56% | 4.56% | 4.56% | 4.56% | 4.56% | 4.56% |
Due To Counterparty [Member] | January 2023 400.0 USD 339.0 EUR [Member] | Amsterdamse Beheer-en Consultingmaatschappij BV (ABC B.V.), a subsidiary of Ziggo [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 339 | ||||||||
Derivative Interest Rate | 4.58% | 4.58% | 4.58% | 4.58% | 4.58% | 4.58% | 4.58% | 4.58% | 4.58% |
Due To Counterparty [Member] | January 2023 1,652.9 USD 1,252.5 EUR [Member] | Unitymedia Hessen [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 1,252.5 | ||||||||
Derivative Interest Rate | 4.50% | 4.50% | 4.50% | 4.50% | 4.50% | 4.50% | 4.50% | 4.50% | 4.50% |
Due To Counterparty [Member] | January 2021 1000.0 USD 688.2 EUR [Member] | Unitymedia Hessen [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 546.5 | ||||||||
Derivative Interest Rate | 5.60% | 5.60% | 5.60% | 5.60% | 5.60% | 5.60% | 5.60% | 5.60% | 5.60% |
Due To Counterparty [Member] | January 2022 1,400.0 USD 760,340.0 CLP [Member] | VTR [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | CLP | CLP 760,340 | ||||||||
Derivative Interest Rate | 10.94% | 10.94% | 10.94% | 10.94% | 10.94% | 10.94% | 10.94% | 10.94% | 10.94% |
Derivative Instruments (Interes
Derivative Instruments (Interest Rate Swaps) (Schedule) (Details) - Jun. 30, 2015 - Interest Rate Swap [Member] € in Millions, £ in Millions, SFr in Millions, $ in Millions | GBP (£) | CHF (SFr) | EUR (€) | USD ($) |
October 2018 2155.0 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | £ | £ 2,155 | |||
October 2018 - June 2023 1200.0 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | £ | 1,200 | |||
January 2021 650.0 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | £ | 650 | |||
January 2021 650.0 GBP 3.87% [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | £ | 650 | |||
December 2015 600.0 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | £ | 600 | |||
April 2018 300.0 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | £ | £ 300 | |||
January 2022 675.0 USD [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | $ | $ 675 | |||
July 2020 750.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | € 750 | |||
July 2016 503.4 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | 503.4 | |||
July 2016 - January 2021 250.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | 250 | |||
July 2016 - January 2023 210.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | 210 | |||
November 2021 107.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | 107 | |||
July 2016 - July 2020 43.4 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | 43.4 | |||
July 2016 900.0 CHF [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | SFr | SFr 900 | |||
January 2022 711.5 CHF [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | SFr | 711.5 | |||
July 2016 — January 2021 500.0 CHF 1.65% [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | SFr | 500 | |||
July 2016 - January 2018 400.0 CHF [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | SFr | 400 | |||
December 2016 370.9Chf 3.82Percent [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | SFr | 370.9 | |||
November 2019 226.8 CHF 6.88 Percent [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | SFr | SFr 226.8 | |||
January 2022 1,556.0 EUR [Member] | Amsterdamse Beheer-en Consultingmaatschappij BV (ABC B.V.), a subsidiary of Ziggo [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | 1,566 | |||
January 2016 689.0 EUR [Member] | Amsterdamse Beheer-en Consultingmaatschappij BV (ABC B.V.), a subsidiary of Ziggo [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | 689 | |||
January 2021 500.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | 500 | |||
July 2016 290.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | 290 | |||
July 2016 - January 2023 290.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | 290 | |||
March 2021 175.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | 175 | |||
July 2016 171.3 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | 171.3 | |||
July 2016 - January 2022 171.3 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | 171.3 | |||
June 2023 500.0 EUR [Member] | Telenet International [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | 500 | |||
July 2017 - June 2022 420.0 EUR [Member] | Telenet International [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | 420 | |||
June 2021 400.0 EUR [Member] | Telenet International [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | 400 | |||
July 2017 - June 2023 382.0 EUR [Member] | Telenet International [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | 382 | |||
July 2017 150.0 EUR [Member] | Telenet International [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | 150 | |||
August 2015 - June 2022 55.0 EUR [Member] | Telenet International [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | € 55 | |||
October 2016 - January 2022 506.3 USD [Member] | Liberty Puerto Rico [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | $ | 506.3 | |||
October 2016 - January 2019 168.8 USD [Member] | Liberty Puerto Rico [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | $ | $ 168.8 | |||
Due From Counterparty [Member] | October 2018 2155.0 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. GBP LIBOR | |||
Due From Counterparty [Member] | October 2018 - June 2023 1200.0 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. GBP LIBOR | |||
Due From Counterparty [Member] | January 2021 650.0 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 5.50% | 5.50% | 5.50% | 5.50% |
Due From Counterparty [Member] | January 2021 650.0 GBP 3.87% [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. GBP LIBOR | |||
Derivative Interest Rate Above Referenced Rate | 1.84% | 1.84% | 1.84% | 1.84% |
Due From Counterparty [Member] | December 2015 600.0 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. GBP LIBOR | |||
Due From Counterparty [Member] | April 2018 300.0 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. GBP LIBOR | |||
Due From Counterparty [Member] | January 2022 675.0 USD [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 6.88% | 6.88% | 6.88% | 6.88% |
Due From Counterparty [Member] | July 2020 750.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 6.38% | 6.38% | 6.38% | 6.38% |
Due From Counterparty [Member] | July 2016 503.4 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | |||
Due From Counterparty [Member] | July 2016 - January 2021 250.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | |||
Due From Counterparty [Member] | July 2016 - January 2023 210.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | |||
Due From Counterparty [Member] | November 2021 107.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | |||
Due From Counterparty [Member] | July 2016 - July 2020 43.4 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | |||
Due From Counterparty [Member] | July 2016 900.0 CHF [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. CHF LIBOR | |||
Due From Counterparty [Member] | January 2022 711.5 CHF [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. CHF LIBOR | |||
Due From Counterparty [Member] | July 2016 — January 2021 500.0 CHF 1.65% [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. CHF LIBOR | |||
Due From Counterparty [Member] | July 2016 - January 2018 400.0 CHF [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. CHF LIBOR | |||
Due From Counterparty [Member] | December 2016 370.9Chf 3.82Percent [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. CHF LIBOR | |||
Due From Counterparty [Member] | November 2019 226.8 CHF 6.88 Percent [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. CHF LIBOR | |||
Derivative Interest Rate Above Referenced Rate | 5.01% | 5.01% | 5.01% | 5.01% |
Due From Counterparty [Member] | January 2022 1,556.0 EUR [Member] | Amsterdamse Beheer-en Consultingmaatschappij BV (ABC B.V.), a subsidiary of Ziggo [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | |||
Due From Counterparty [Member] | January 2016 689.0 EUR [Member] | Amsterdamse Beheer-en Consultingmaatschappij BV (ABC B.V.), a subsidiary of Ziggo [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 1 mo. EURIBOR | |||
Derivative Interest Rate Above Referenced Rate | 3.75% | 3.75% | 3.75% | 3.75% |
Due From Counterparty [Member] | January 2021 500.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | |||
Due From Counterparty [Member] | July 2016 290.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | |||
Due From Counterparty [Member] | July 2016 - January 2023 290.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | |||
Due From Counterparty [Member] | March 2021 175.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | |||
Due From Counterparty [Member] | July 2016 171.3 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | |||
Due From Counterparty [Member] | July 2016 - January 2022 171.3 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | |||
Due From Counterparty [Member] | June 2023 500.0 EUR [Member] | Telenet International [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 3 mo. EURIBOR | |||
Due From Counterparty [Member] | July 2017 - June 2022 420.0 EUR [Member] | Telenet International [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 3 mo. EURIBOR | |||
Due From Counterparty [Member] | June 2021 400.0 EUR [Member] | Telenet International [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 3 mo. EURIBOR | |||
Due From Counterparty [Member] | July 2017 - June 2023 382.0 EUR [Member] | Telenet International [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 3 mo. EURIBOR | |||
Due From Counterparty [Member] | July 2017 150.0 EUR [Member] | Telenet International [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 3 mo. EURIBOR | |||
Due From Counterparty [Member] | August 2015 - June 2022 55.0 EUR [Member] | Telenet International [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 3 mo. EURIBOR | |||
Due From Counterparty [Member] | October 2016 - January 2022 506.3 USD [Member] | Liberty Puerto Rico [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 3 mo. LIBOR | |||
Due From Counterparty [Member] | October 2016 - January 2019 168.8 USD [Member] | Liberty Puerto Rico [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 3 mo. LIBOR | |||
Due To Counterparty [Member] | October 2018 2155.0 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 1.52% | 1.52% | 1.52% | 1.52% |
Due To Counterparty [Member] | October 2018 - June 2023 1200.0 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 2.49% | 2.49% | 2.49% | 2.49% |
Due To Counterparty [Member] | January 2021 650.0 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. GBP LIBOR | |||
Derivative Interest Rate Above Referenced Rate | 1.84% | 1.84% | 1.84% | 1.84% |
Due To Counterparty [Member] | January 2021 650.0 GBP 3.87% [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 3.87% | 3.87% | 3.87% | 3.87% |
Due To Counterparty [Member] | December 2015 600.0 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 2.90% | 2.90% | 2.90% | 2.90% |
Due To Counterparty [Member] | April 2018 300.0 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 1.37% | 1.37% | 1.37% | 1.37% |
Due To Counterparty [Member] | January 2022 675.0 USD [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. LIBOR | |||
Derivative Interest Rate Above Referenced Rate | 4.90% | 4.90% | 4.90% | 4.90% |
Due To Counterparty [Member] | July 2020 750.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | |||
Derivative Interest Rate Above Referenced Rate | 3.16% | 3.16% | 3.16% | 3.16% |
Due To Counterparty [Member] | July 2016 503.4 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 0.20% | 0.20% | 0.20% | 0.20% |
Due To Counterparty [Member] | July 2016 - January 2021 250.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 2.52% | 2.52% | 2.52% | 2.52% |
Due To Counterparty [Member] | July 2016 - January 2023 210.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 2.88% | 2.88% | 2.88% | 2.88% |
Due To Counterparty [Member] | November 2021 107.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 2.89% | 2.89% | 2.89% | 2.89% |
Due To Counterparty [Member] | July 2016 - July 2020 43.4 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 3.95% | 3.95% | 3.95% | 3.95% |
Due To Counterparty [Member] | July 2016 900.0 CHF [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 0.05% | 0.05% | 0.05% | 0.05% |
Due To Counterparty [Member] | January 2022 711.5 CHF [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 1.89% | 1.89% | 1.89% | 1.89% |
Due To Counterparty [Member] | July 2016 — January 2021 500.0 CHF 1.65% [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 1.65% | 1.65% | 1.65% | 1.65% |
Due To Counterparty [Member] | July 2016 - January 2018 400.0 CHF [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 2.51% | 2.51% | 2.51% | 2.51% |
Due To Counterparty [Member] | December 2016 370.9Chf 3.82Percent [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 3.82% | 3.82% | 3.82% | 3.82% |
Due To Counterparty [Member] | November 2019 226.8 CHF 6.88 Percent [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 6.88% | 6.88% | 6.88% | 6.88% |
Due To Counterparty [Member] | January 2022 1,556.0 EUR [Member] | Amsterdamse Beheer-en Consultingmaatschappij BV (ABC B.V.), a subsidiary of Ziggo [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 1.66% | 1.66% | 1.66% | 1.66% |
Due To Counterparty [Member] | January 2016 689.0 EUR [Member] | Amsterdamse Beheer-en Consultingmaatschappij BV (ABC B.V.), a subsidiary of Ziggo [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | |||
Derivative Interest Rate Above Referenced Rate | 3.59% | 3.59% | 3.59% | 3.59% |
Due To Counterparty [Member] | January 2021 500.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 2.60% | 2.60% | 2.60% | 2.60% |
Due To Counterparty [Member] | July 2016 290.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 0.20% | 0.20% | 0.20% | 0.20% |
Due To Counterparty [Member] | July 2016 - January 2023 290.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 2.84% | 2.84% | 2.84% | 2.84% |
Due To Counterparty [Member] | March 2021 175.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 2.32% | 2.32% | 2.32% | 2.32% |
Due To Counterparty [Member] | July 2016 171.3 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 0.20% | 0.20% | 0.20% | 0.20% |
Due To Counterparty [Member] | July 2016 - January 2022 171.3 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 3.44% | 3.44% | 3.44% | 3.44% |
Due To Counterparty [Member] | June 2023 500.0 EUR [Member] | Telenet International [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 1.45% | 1.45% | 1.45% | 1.45% |
Due To Counterparty [Member] | July 2017 - June 2022 420.0 EUR [Member] | Telenet International [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 2.08% | 2.08% | 2.08% | 2.08% |
Due To Counterparty [Member] | June 2021 400.0 EUR [Member] | Telenet International [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 0.41% | 0.41% | 0.41% | 0.41% |
Due To Counterparty [Member] | July 2017 - June 2023 382.0 EUR [Member] | Telenet International [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 1.89% | 1.89% | 1.89% | 1.89% |
Due To Counterparty [Member] | July 2017 150.0 EUR [Member] | Telenet International [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 3.55% | 3.55% | 3.55% | 3.55% |
Due To Counterparty [Member] | August 2015 - June 2022 55.0 EUR [Member] | Telenet International [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 1.81% | 1.81% | 1.81% | 1.81% |
Due To Counterparty [Member] | October 2016 - January 2022 506.3 USD [Member] | Liberty Puerto Rico [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 2.49% | 2.49% | 2.49% | 2.49% |
Due To Counterparty [Member] | October 2016 - January 2019 168.8 USD [Member] | Liberty Puerto Rico [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 1.96% | 1.96% | 1.96% | 1.96% |
Derivative Instruments (Inter45
Derivative Instruments (Interest Rate Caps) (Schedule) (Details) - Jun. 30, 2015 - EUR (€) € in Millions | Total |
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 2017 50.0 EUR 4.5 Percent [Member] | Interest Rate Cap [Member] | Telenet International [Member] | |
Derivative [Line Items] | |
Notional amount of derivative | € 50 |
Maximum rate | 4.50% |
December 2017 0.5 EUR 6.50 Percent [Member] | Interest Rate Cap [Member] | Telenet NV [Member] | |
Derivative [Line Items] | |
Notional amount of derivative | € 0.5 |
Maximum rate | 6.50% |
December 2017 0.5 EUR 5.50 Percent [Member] | Interest Rate Cap [Member] | Telenet NV [Member] | |
Derivative [Line Items] | |
Notional amount of derivative | € 0.5 |
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 (Inter46
Derivative Instruments (Interest Rate Collars) (Schedule) (Details) - Jun. 30, 2015 - Interest Rate Collar [Member] - EUR (€) € in Millions | Total |
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) - Jun. 30, 2015 - Foreign Exchange Forward [Member] € in Millions, £ in Millions, SFr in Millions, RON in Millions, PLN in Millions, HUF in Millions, CZK in Millions, CLP in Millions, $ in Millions | GBP (£) | HUF | CHF (SFr) | CZK | PLN | EUR (€) | USD ($) | CLP | RON |
LGE Financing [Member] | Foreign Currency Forward 1 [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 334.8 | $ 375.6 | |||||||
UPC Broadband Holding [Member] | Foreign Currency Forward 2 [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | CZK 405 | 16.6 | |||||||
UPC Broadband Holding [Member] | Foreign Currency Forward 3 [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | SFr 58.3 | 50.5 | |||||||
UPC Broadband Holding [Member] | Foreign Currency Forward 4 [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | 405 | 14.6 | |||||||
UPC Broadband Holding [Member] | Foreign Currency Forward 5 [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | HUF 4,500 | 14.4 | |||||||
UPC Broadband Holding [Member] | Foreign Currency Forward 6 [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | PLN 120 | 28.3 | |||||||
UPC Broadband Holding [Member] | Foreign Currency Forward 7 [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | 27 | RON 121.1 | |||||||
UPC Broadband Holding [Member] | Foreign Currency Forward 8 [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | £ 2.7 | 3.6 | |||||||
UPC Broadband Holding [Member] | Foreign Currency Forward 9 [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | SFr 35.5 | 34 | |||||||
UPC Broadband Holding [Member] | Foreign Currency Forward 10 [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | CZK 500 | 18.4 | |||||||
UPC Broadband Holding [Member] | Foreign Currency Forward 11 [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | HUF 6,000 | 19.2 | |||||||
UPC Broadband Holding [Member] | Foreign Currency Forward 12 [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | PLN 60 | 14.4 | |||||||
UPC Broadband Holding [Member] | Foreign Currency Forward 13 [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | 1.1 | RON 5 | |||||||
Telenet [Member] | Foreign Currency Forward 14 [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 48.4 | 54.3 | |||||||
VTR [Member] | Foreign Currency Forward 15 [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ 84.1 | CLP 52,149.9 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Choice Acquisition [Member] | Significant unobservable inputs (Level 3) | Customer Relationships and Franchise Marketing Rights [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Discount rate | 11.75% | 12.25% |
ITV Collar [Member] | Minimum [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Estimated volatilities | 25.70% | |
ITV Collar [Member] | Maximum [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Estimated volatilities | 29.90% |
Fair Value Measurements (Summar
Fair Value Measurements (Summary of Assets and Liabilities at Fair Value) (Schedule) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Assets: | ||
Derivative instruments | $ 1,958.8 | $ 1,761.4 |
Investments, fair value | 1,928.8 | 1,662.7 |
Total assets | 3,887.6 | 3,424.1 |
Liabilities: | ||
Derivative instruments | 2,256.7 | 2,560.8 |
Total liabilities | 2,256.7 | 2,560.8 |
Quoted prices in active markets for identical assets (Level 1) | ||
Assets: | ||
Derivative instruments | 0 | 0 |
Investments, fair value | 1,608.7 | 1,344.3 |
Total assets | 1,608.7 | 1,344.3 |
Liabilities: | ||
Total liabilities | 0 | 0 |
Significant other observable inputs (Level 2) | ||
Assets: | ||
Derivative instruments | 1,624.1 | 1,361.2 |
Investments, fair value | 0 | 0 |
Total assets | 1,624.1 | 1,361.2 |
Liabilities: | ||
Total liabilities | 1,991.4 | 2,472.4 |
Significant unobservable inputs (Level 3) | ||
Assets: | ||
Derivative instruments | 334.7 | 400.2 |
Investments, fair value | 320.1 | 318.4 |
Total assets | 654.8 | 718.6 |
Liabilities: | ||
Total liabilities | 265.3 | 88.4 |
Cross-currency and interest rate derivative contracts | ||
Assets: | ||
Derivative instruments | 1,616.7 | 1,357.3 |
Liabilities: | ||
Derivative instruments | 1,981.9 | 2,471.3 |
Cross-currency and interest rate derivative contracts | Quoted prices in active markets for identical assets (Level 1) | ||
Assets: | ||
Derivative instruments | 0 | 0 |
Liabilities: | ||
Derivative instruments | 0 | 0 |
Cross-currency and interest rate derivative contracts | Significant other observable inputs (Level 2) | ||
Assets: | ||
Derivative instruments | 1,616.7 | 1,357.3 |
Liabilities: | ||
Derivative instruments | 1,981.9 | 2,471.3 |
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 | 334.7 | 400.2 |
Liabilities: | ||
Derivative instruments | 265.3 | 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 | 334.7 | 400.2 |
Liabilities: | ||
Derivative instruments | 265.3 | 88.4 |
Foreign currency forward contracts | ||
Assets: | ||
Derivative instruments | 4.9 | 2.5 |
Liabilities: | ||
Derivative instruments | 9.3 | 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 | 4.9 | 2.5 |
Liabilities: | ||
Derivative instruments | 9.3 | 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 | 2.5 | 1.4 |
Liabilities: | ||
Derivative instruments | 0.2 | 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 | 2.5 | 1.4 |
Liabilities: | ||
Derivative instruments | 0.2 | 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) $ in Millions | 6 Months Ended |
Jun. 30, 2015USD ($) | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |
Balance of net assets at January 1, 2015 | $ 630.2 |
Losses included in net loss (a): | |
Realized and unrealized losses on derivative instruments, net | (229.7) |
Realized and unrealized losses due to changes in fair values of certain investments, net | (1.5) |
Foreign currency translation adjustments and other, net | (9.5) |
Balance of net assets at June 30, 2015 | 389.5 |
Investments | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |
Balance of net assets at January 1, 2015 | 318.4 |
Losses included in net loss (a): | |
Realized and unrealized losses on derivative instruments, net | 0 |
Realized and unrealized losses due to changes in fair values of certain investments, net | (1.5) |
Foreign currency translation adjustments and other, net | 3.2 |
Balance of net assets at June 30, 2015 | 320.1 |
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 |
Losses included in net loss (a): | |
Realized and unrealized losses on derivative instruments, net | (229.7) |
Realized and unrealized losses due to changes in fair values of certain investments, net | 0 |
Foreign currency translation adjustments and other, net | (12.7) |
Balance of net assets at June 30, 2015 | $ 69.4 |
Long-lived Assets (Narrative) (
Long-lived Assets (Narrative) (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Long lived Assets | ||
Noncash vendor financing arrangement, cash increase, excluding value added tax | $ 675.9 | $ 401.8 |
Value added tax, vendor financing arrangement | 89.2 | 41.6 |
Capital leases | $ 74.5 | $ 89.8 |
Long-lived Assets (Schedule of
Long-lived Assets (Schedule of PP&E) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Property and equipment, gross | $ 36,878.8 | $ 36,524.8 |
Accumulated depreciation | (14,117.7) | (12,684.2) |
Total property and equipment, net | 22,761.1 | 23,840.6 |
Liberty Global Group [Member] | ||
Property and equipment, gross | 34,626 | 34,376.2 |
Accumulated depreciation | (12,761.3) | (11,360.2) |
Total property and equipment, net | 21,864.7 | 23,016 |
LiLAC Group [Member] | ||
Property and equipment, gross | 2,252.8 | 2,148.6 |
Accumulated depreciation | (1,356.4) | (1,324) |
Total property and equipment, net | 896.4 | 824.6 |
Distribution Systems [Member] | ||
Property and equipment, gross | 25,879.1 | 26,012.5 |
Distribution Systems [Member] | Liberty Global Group [Member] | ||
Property and equipment, gross | 24,784.6 | 24,985.6 |
Distribution Systems [Member] | LiLAC Group [Member] | ||
Property and equipment, gross | 1,094.5 | 1,026.9 |
Customer Premises Equipment [Member] | ||
Property and equipment, gross | 6,452.8 | 6,213.9 |
Customer Premises Equipment [Member] | Liberty Global Group [Member] | ||
Property and equipment, gross | 5,643.6 | 5,437.3 |
Customer Premises Equipment [Member] | LiLAC Group [Member] | ||
Property and equipment, gross | 809.2 | 776.6 |
Support Equipment, Buildings and Land [Member] | ||
Property and equipment, gross | 4,546.9 | 4,298.4 |
Support Equipment, Buildings and Land [Member] | Liberty Global Group [Member] | ||
Property and equipment, gross | 4,197.8 | 3,953.3 |
Support Equipment, Buildings and Land [Member] | LiLAC Group [Member] | ||
Property and equipment, gross | $ 349.1 | $ 345.1 |
Long-lived Assets (Schedule o53
Long-lived Assets (Schedule of Changes in Carrying Amount of Goodwill) (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2015USD ($) | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | $ 29,001.6 |
Acquisitions and related adjustments | 190.4 |
Foreign currency translation adjustments | (1,033) |
Goodwill ending balance | 28,159 |
European Operations Division U.K / Ireland [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 9,245.1 |
Acquisitions and related adjustments | 0.4 |
Foreign currency translation adjustments | 66.2 |
Goodwill ending balance | 9,311.7 |
European Operations Division Netherlands [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 8,605 |
Acquisitions and related adjustments | 138 |
Foreign currency translation adjustments | (687.9) |
Goodwill ending balance | 8,055.1 |
European Operations Division Germany [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 3,456.9 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments | (270.6) |
Goodwill ending balance | 3,186.3 |
European Operations Division Belgium [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 1,978.9 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments | (154.9) |
Goodwill ending balance | 1,824 |
European Operations Division Switzerland / Austria [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 3,591.9 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments | 122.1 |
Goodwill ending balance | 3,714 |
European Operations Division Total Western Europe [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 26,877.8 |
Acquisitions and related adjustments | 138.4 |
Foreign currency translation adjustments | (925.1) |
Goodwill ending balance | 26,091.1 |
European Operations Division Central and Eastern Europe [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 1,302.1 |
Acquisitions and related adjustments | 0.5 |
Foreign currency translation adjustments | (85.7) |
Goodwill ending balance | 1,216.9 |
Total European Operations Division [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 28,179.9 |
Acquisitions and related adjustments | 138.9 |
Foreign currency translation adjustments | (1,010.8) |
Goodwill ending balance | 27,308 |
Corporate and Other [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 34.4 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments | 0.1 |
Goodwill ending balance | 34.5 |
Liberty Global Group [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 28,214.3 |
Acquisitions and related adjustments | 138.9 |
Foreign currency translation adjustments | (1,010.7) |
Goodwill ending balance | 27,342.5 |
LiLAC Group Chile [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 440.3 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments | (22.3) |
Goodwill ending balance | 418 |
LiLAC Group Puerto Rico [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 226.1 |
Acquisitions and related adjustments | 51.5 |
Foreign currency translation adjustments | 0 |
Goodwill ending balance | 277.6 |
LiLAC Division [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 666.4 |
Acquisitions and related adjustments | 51.5 |
Foreign currency translation adjustments | (22.3) |
Goodwill ending balance | 695.6 |
LiLAC Group Corporate and Other [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 120.9 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments | 0 |
Goodwill ending balance | 120.9 |
LiLAC Group [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 787.3 |
Acquisitions and related adjustments | 51.5 |
Foreign currency translation adjustments | (22.3) |
Goodwill ending balance | $ 816.5 |
Long-lived Assets (Schedule o54
Long-lived Assets (Schedule of Intangible Assets Subject to Amortization, Net) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Gross carrying amount | $ 11,730.9 | $ 12,377.9 |
Accumulated amortization | (3,731.4) | (3,188.1) |
Net carrying amount | 7,999.5 | 9,189.8 |
Customer Relationships [Member] | ||
Gross carrying amount | 11,524.2 | 12,142.5 |
Accumulated amortization | (3,610.8) | (3,056.3) |
Net carrying amount | 7,913.4 | 9,086.2 |
Other Intangible Assets [Member] | ||
Gross carrying amount | 206.7 | 235.4 |
Accumulated amortization | (120.6) | (131.8) |
Net carrying amount | 86.1 | 103.6 |
Liberty Global Group [Member] | ||
Gross carrying amount | 11,581.9 | 12,287.3 |
Accumulated amortization | (3,707) | (3,168.2) |
Net carrying amount | 7,874.9 | 9,119.1 |
Liberty Global Group [Member] | Customer Relationships [Member] | ||
Gross carrying amount | 11,375.4 | 12,052.5 |
Accumulated amortization | (3,586.5) | (3,037) |
Net carrying amount | 7,788.9 | 9,015.5 |
Liberty Global Group [Member] | Other Intangible Assets [Member] | ||
Gross carrying amount | 206.5 | 234.8 |
Accumulated amortization | (120.5) | (131.2) |
Net carrying amount | 86 | 103.6 |
LiLAC Group [Member] | ||
Gross carrying amount | 149 | 90.6 |
Accumulated amortization | (24.4) | (19.9) |
Net carrying amount | 124.6 | 70.7 |
LiLAC Group [Member] | Customer Relationships [Member] | ||
Gross carrying amount | 148.8 | 90 |
Accumulated amortization | (24.3) | (19.3) |
Net carrying amount | 124.5 | 70.7 |
LiLAC Group [Member] | Other Intangible Assets [Member] | ||
Gross carrying amount | 0.2 | 0.6 |
Accumulated amortization | (0.1) | (0.6) |
Net carrying amount | $ 0.1 | $ 0 |
Debt and Capital Lease Obliga55
Debt and Capital Lease Obligations (Consolidated Debt and Capital Lease Obligations) (Details) € in Millions, £ in Millions, CLP in Billions | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Dec. 31, 2014USD ($) | Jun. 30, 2015GBP (£)shares | Jun. 30, 2015EUR (€)shares | Jun. 30, 2015USD ($)shares | Jun. 30, 2015CLPshares | |
Debt: | |||||||
Weighted average interest rate | 4.90% | 4.90% | 4.90% | 4.90% | |||
Unused borrowing capacity | $ 3,882,300,000 | ||||||
Estimated fair value | $ 46,151,100,000 | 45,524,500,000 | |||||
Carrying value | 44,611,400,000 | 44,624,900,000 | |||||
Capital lease obligations: | |||||||
Total capital lease obligations | 1,547,600,000 | 1,429,100,000 | |||||
Outstanding principal amount | 44,623,800,000 | ||||||
Value added tax, vendor financing arrangement | $ 89,200,000 | $ 41,600,000 | |||||
Unitymedia [Member] | |||||||
Capital lease obligations: | |||||||
Maximum amount available to be loaned or distributed | € 64.4 | 71,800,000 | |||||
Maximum amount available to be loaned or distributed, compliance requirements met | 202.1 | 225,400,000 | |||||
Virgin Media [Member] | |||||||
Capital lease obligations: | |||||||
Maximum amount available to be loaned or distributed | £ 670.3 | 1,053,900,000 | |||||
Ziggo [Member] | |||||||
Capital lease obligations: | |||||||
Maximum amount available to be loaned or distributed | 225.4 | 251,400,000 | |||||
Maximum amount available to be loaned or distributed, compliance requirements met | € 57.6 | $ 64,200,000 | |||||
VM Notes [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 5.62% | 5.62% | 5.62% | 5.62% | |||
Unused borrowing capacity | £ 0 | $ 0 | |||||
Estimated fair value | 8,461,000,000 | 11,156,300,000 | |||||
Carrying value | 8,060,700,000 | $ 10,978,400,000 | |||||
VM Credit Facility [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 3.82% | 3.82% | 3.82% | 3.82% | |||
Unused borrowing capacity | £ 675 | $ 1,061,300,000 | |||||
Estimated fair value | 4,734,900,000 | 3,331,900,000 | |||||
Carrying value | 4,804,000,000 | $ 3,330,700,000 | |||||
Capital lease obligations: | |||||||
Carrying value | 3,330,700,000 | ||||||
Fee on unused portion of credit facility | 1.10% | ||||||
VM Convertible Notes [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 6.50% | 6.50% | 6.50% | 6.50% | |||
Unused borrowing capacity | £ 0 | $ 0 | |||||
Estimated fair value | 178,700,000 | 185,100,000 | |||||
Carrying value | 56,800,000 | $ 56,500,000 | |||||
Ziggo Credit Facility [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 3.60% | 3.60% | 3.60% | 3.60% | |||
Unused borrowing capacity | € 450 | $ 501,900,000 | |||||
Estimated fair value | 4,663,000,000 | 5,534,500,000 | |||||
Carrying value | 4,710,800,000 | 5,518,700,000 | |||||
Capital lease obligations: | |||||||
Carrying value | 5,518,700,000 | ||||||
Unused borrowing capacity, compliance requirements met | € 409 | 456,200,000 | |||||
VM Convertible Notes Indenture [Member] | |||||||
Capital lease obligations: | |||||||
Debt Instrument, Convertible, Cash Portion of Settlement | 910.51 | ||||||
Debt Instrument, Convertible, Principal Amount | $ 1,000 | ||||||
Ziggo SPE Notes [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 4.46% | 4.46% | 4.46% | 4.46% | |||
Unused borrowing capacity | € 0 | $ 0 | |||||
Estimated fair value | 0 | 1,710,300,000 | |||||
Carrying value | 0 | $ 1,738,300,000 | |||||
Ziggo Notes [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 6.82% | 6.82% | 6.82% | 6.82% | |||
Unused borrowing capacity | € 0 | $ 0 | |||||
Estimated fair value | 1,082,300,000 | 1,006,200,000 | |||||
Carrying value | 1,077,000,000 | $ 989,000,000 | |||||
Unitymedia Notes [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 5.03% | 5.03% | 5.03% | 5.03% | |||
Unused borrowing capacity | € 0 | $ 0 | |||||
Estimated fair value | 7,869,300,000 | 7,698,700,000 | |||||
Carrying value | 7,400,900,000 | $ 7,441,000,000 | |||||
Unitymedia Revolving Credit Facilities [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 0.00% | 0.00% | 0.00% | 0.00% | |||
Unused borrowing capacity | € 500 | $ 557,700,000 | |||||
Estimated fair value | 319,400,000 | 0 | |||||
Carrying value | 338,800,000 | 0 | |||||
Capital lease obligations: | |||||||
Unused borrowing capacity considering limitations | € 481.9 | $ 537,500,000 | |||||
UPCB SPE Notes Debt [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 5.81% | 5.81% | 5.81% | 5.81% | |||
Unused borrowing capacity | € 0 | $ 0 | |||||
Estimated fair value | 4,279,000,000 | 3,171,100,000 | |||||
Carrying value | 4,009,400,000 | $ 3,157,500,000 | |||||
UPC Broadband Holding Bank Facility [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 3.25% | 3.25% | 3.25% | 3.25% | |||
Unused borrowing capacity | € 1,046.2 | $ 1,166,900,000 | |||||
Estimated fair value | 3,156,400,000 | 1,292,100,000 | |||||
Carrying value | 3,179,200,000 | 1,302,200,000 | |||||
Capital lease obligations: | |||||||
Carrying value | 1,302,200,000 | ||||||
Unused borrowing capacity considering limitations | 381 | 424,900,000 | |||||
Unused borrowing capacity, compliance requirements met | € 531.6 | $ 592,900,000 | |||||
UPC Holding Senior Notes [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 6.59% | 6.59% | 6.59% | 6.59% | |||
Unused borrowing capacity | € 0 | $ 0 | |||||
Estimated fair value | 2,603,600,000 | 1,674,000,000 | |||||
Carrying value | 2,391,600,000 | 1,540,600,000 | |||||
Capital lease obligations: | |||||||
Outstanding principal amount | $ 1,545,400,000 | ||||||
Telenet SPE Notes [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 5.91% | 5.91% | 5.91% | 5.91% | |||
Unused borrowing capacity | € 0 | $ 0 | |||||
Estimated fair value | 2,450,400,000 | 2,233,700,000 | |||||
Carrying value | 2,299,000,000 | $ 2,119,100,000 | |||||
Telenet Credit Facility [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 3.41% | 3.41% | 3.41% | 3.41% | |||
Unused borrowing capacity | € 322.9 | $ 360,100,000 | |||||
Estimated fair value | 1,633,400,000 | 1,510,100,000 | |||||
Carrying value | 1,638,600,000 | 1,510,500,000 | |||||
Capital lease obligations: | |||||||
Carrying value | $ 1,510,500,000 | ||||||
VTR Senior Secured Notes [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 6.88% | 6.88% | 6.88% | 6.88% | |||
Unused borrowing capacity | € 0 | $ 0 | |||||
Estimated fair value | 1,439,400,000 | 1,440,300,000 | |||||
Carrying value | 1,400,000,000 | $ 1,400,000,000 | |||||
VTR Credit Facility [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 0.00% | 0.00% | 0.00% | 0.00% | |||
Unused borrowing capacity | $ 194,400,000 | ||||||
Estimated fair value | 0 | 0 | |||||
Carrying value | 0 | 0 | |||||
VTR Credit Facility [Member] | United States of America, Dollars | |||||||
Debt: | |||||||
Unused borrowing capacity | 160,000,000 | ||||||
Capital lease obligations: | |||||||
Fee on unused portion of credit facility | 1.10% | ||||||
VTR Credit Facility [Member] | Chile, Pesos | |||||||
Debt: | |||||||
Unused borrowing capacity | $ 34,400,000 | CLP 22 | |||||
Capital lease obligations: | |||||||
Fee on unused portion of credit facility | 1.34% | ||||||
Sumitomo Collar Loan [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 1.88% | 1.88% | 1.88% | 1.88% | |||
Unused borrowing capacity | € 0 | $ 0 | |||||
Estimated fair value | 818,000,000 | 797,700,000 | |||||
Carrying value | 787,700,000 | $ 774,300,000 | |||||
ITV Collar Loan [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 1.73% | 1.73% | 1.73% | 1.73% | |||
Unused borrowing capacity | $ 0 | ||||||
Estimated fair value | 678,200,000 | 687,000,000 | |||||
Carrying value | 667,000,000 | $ 679,000,000 | |||||
Liberty Puerto Rico Bank Facility [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 5.11% | 5.11% | 5.11% | 5.11% | |||
Unused borrowing capacity | $ 40,000,000 | ||||||
Estimated fair value | 666,200,000 | 939,600,000 | |||||
Carrying value | 672,000,000 | 933,200,000 | |||||
Liberty Puerto Rico Bank Facility [Member] | Choice Acquisition [Member] | |||||||
Debt: | |||||||
Carrying value | 261,100,000 | ||||||
Capital lease obligations: | |||||||
Outstanding principal amount | $ 267,500,000 | ||||||
Vendor Financing [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 3.39% | 3.39% | 3.39% | 3.39% | |||
Unused borrowing capacity | $ 0 | ||||||
Estimated fair value | 946,400,000 | 992,900,000 | |||||
Carrying value | 946,400,000 | $ 992,900,000 | |||||
Capital lease obligations: | |||||||
General term of vendor financing arrangements | 1 year | ||||||
Value added tax, vendor financing arrangement | $ 110,600,000 | 101,700,000 | |||||
Other Debt [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 9.34% | 9.34% | 9.34% | 9.34% | |||
Unused borrowing capacity | $ 0 | ||||||
Estimated fair value | 171,500,000 | 163,000,000 | |||||
Carrying value | 171,500,000 | $ 163,000,000 | |||||
Aggregate Variable and Fixed Rate Indebtedness [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 5.40% | 5.40% | 5.40% | 5.40% | |||
UM Senior Secured Facility [Member] | |||||||
Capital lease obligations: | |||||||
Facility amount | € 420 | $ 468,400,000 | |||||
UM Super Senior Secured Revolving Facility [Member] | |||||||
Capital lease obligations: | |||||||
Facility amount | € 80 | 89,200,000 | |||||
Unitymedia Capital Lease Obligations [Member] | |||||||
Capital lease obligations: | |||||||
Total capital lease obligations | 810,100,000 | 734,400,000 | |||||
Telenet Capital Lease [Member] | |||||||
Capital lease obligations: | |||||||
Total capital lease obligations | 413,400,000 | 383,800,000 | |||||
Virgin Media Capital Lease Obligations [Member] | |||||||
Capital lease obligations: | |||||||
Total capital lease obligations | 255,300,000 | 215,600,000 | |||||
Other Subsidiaries Capital Lease [Member] | |||||||
Capital lease obligations: | |||||||
Total capital lease obligations | 67,300,000 | 94,100,000 | |||||
Liberty Puerto Rico Capital Lease Obligations [Member] | |||||||
Capital lease obligations: | |||||||
Total capital lease obligations | 1,000,000 | 800,000 | |||||
VTR Capital Lease Obligations [Member] | |||||||
Capital lease obligations: | |||||||
Total capital lease obligations | 500,000 | $ 400,000 | |||||
Liberty Global Group [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 4.83% | 4.83% | 4.83% | 4.83% | |||
Unused borrowing capacity | $ 3,647,900,000 | ||||||
Estimated fair value | 44,045,500,000 | 43,144,600,000 | |||||
Carrying value | 42,539,400,000 | 42,291,700,000 | |||||
Capital lease obligations: | |||||||
Total capital lease obligations | 1,546,100,000 | 1,427,900,000 | |||||
Outstanding principal amount | 42,281,300,000 | ||||||
Liberty Global Group [Member] | Unitymedia [Member] | |||||||
Debt: | |||||||
Carrying value | 7,581,800,000 | ||||||
Capital lease obligations: | |||||||
Outstanding principal amount | 7,581,800,000 | ||||||
Liberty Global Group [Member] | Virgin Media [Member] | |||||||
Debt: | |||||||
Carrying value | 14,593,000,000 | ||||||
Capital lease obligations: | |||||||
Outstanding principal amount | $ 14,573,400,000 | ||||||
Liberty Global Group [Member] | Aggregate Variable and Fixed Rate Indebtedness [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 5.20% | 5.20% | 5.20% | 5.20% | |||
LiLAC Group [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 6.17% | 6.17% | 6.17% | 6.17% | |||
Unused borrowing capacity | $ 234,400,000 | ||||||
Estimated fair value | 2,105,600,000 | 2,379,900,000 | |||||
Carrying value | 2,072,000,000 | 2,333,200,000 | |||||
Capital lease obligations: | |||||||
Total capital lease obligations | $ 1,500,000 | 1,200,000 | |||||
Outstanding principal amount | $ 2,342,500,000 | ||||||
LiLAC Group [Member] | Aggregate Variable and Fixed Rate Indebtedness [Member] | |||||||
Debt: | |||||||
Weighted average interest rate | 8.70% | 8.70% | 8.70% | 8.70% | |||
Class A Old Liberty Global Ordinary Shares [Member] | VM Convertible Notes Indenture [Member] | |||||||
Capital lease obligations: | |||||||
Debt Instrument, Convertible, Number of Equity Instruments | shares | 13.4339 | 13.4339 | 13.4339 | 13.4339 | |||
Class C Old Liberty Global Ordinary Shares [Member] | VM Convertible Notes Indenture [Member] | |||||||
Capital lease obligations: | |||||||
Debt Instrument, Convertible, Number of Equity Instruments | shares | 33.4963 | 33.4963 | 33.4963 | 33.4963 | |||
Class A Ordinary Shares [Member] | VM Convertible Notes Indenture [Member] | |||||||
Capital lease obligations: | |||||||
Debt Instrument, Convertible, Number of Equity Instruments | shares | 14.0791 | 14.0791 | 14.0791 | 14.0791 | |||
Class C Ordinary Shares [Member] | VM Convertible Notes Indenture [Member] | |||||||
Capital lease obligations: | |||||||
Debt Instrument, Convertible, Number of Equity Instruments | shares | 35.1665 | 35.1665 | 35.1665 | 35.1665 |
Debt and Capital Lease Obliga56
Debt and Capital Lease Obligations (VM Notes) (Details) € in Millions, £ in Millions, $ in Millions | Apr. 30, 2015USD ($) | Mar. 30, 2015GBP (£) | Mar. 30, 2015USD ($) | Jun. 30, 2015GBP (£) | Jun. 30, 2015EUR (€) | Jun. 30, 2015USD ($) | Mar. 30, 2015USD ($) | Dec. 31, 2014USD ($) |
Debt Instrument [Line Items] | ||||||||
Estimated fair value | $ 45,524.5 | $ 46,151.1 | ||||||
Carrying value | 44,624.9 | 44,611.4 | ||||||
VM Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Principal amount of debt | 10,943.2 | |||||||
Estimated fair value | 11,156.3 | 8,461 | ||||||
Carrying value | $ 10,978.4 | $ 8,060.7 | ||||||
2022 VM 4.875% Dollar Senior Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 4.875% | 4.875% | 4.875% | |||||
Principal amount of debt | $ 118.7 | |||||||
Estimated fair value | 112.1 | |||||||
Carrying value | $ 119.5 | |||||||
2022 VM 5.25% Dollar Senior Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 5.25% | 5.25% | 5.25% | |||||
Principal amount of debt | $ 95 | |||||||
Estimated fair value | 90.2 | |||||||
Carrying value | $ 95.7 | |||||||
2022 VM Sterling Senior Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 5.125% | 5.125% | 5.125% | |||||
Principal amount of debt | £ 44.1 | $ 69.3 | ||||||
Estimated fair value | 69.5 | |||||||
Carrying value | $ 70 | |||||||
2023 VM Dollar Senior Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 6.375% | 6.375% | 6.375% | |||||
Principal amount of debt | $ 530 | |||||||
Estimated fair value | 549.2 | |||||||
Carrying value | $ 530 | |||||||
2023 VM Sterling Senior Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 7.00% | 7.00% | 7.00% | |||||
Principal amount of debt | £ 250 | $ 393.1 | ||||||
Estimated fair value | 420.4 | |||||||
Carrying value | $ 393.1 | |||||||
2024 VM Dollar Senior Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 6.00% | 6.00% | 6.00% | |||||
Principal amount of debt | $ 500 | |||||||
Estimated fair value | 508.4 | |||||||
Carrying value | $ 500 | |||||||
2024 VM Sterling Senior Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 6.375% | 6.375% | 6.375% | |||||
Principal amount of debt | £ 300 | $ 471.7 | ||||||
Estimated fair value | 492.7 | |||||||
Carrying value | $ 471.7 | |||||||
2025 VM Euro Senior Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 4.50% | 4.50% | 4.50% | |||||
Principal amount of debt | € 460 | $ 513.1 | ||||||
Estimated fair value | 511.4 | |||||||
Carrying value | $ 513.1 | |||||||
2025 VM Dollar Senior Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 5.75% | 5.75% | 5.75% | |||||
Principal amount of debt | $ 400 | |||||||
Estimated fair value | 404.3 | |||||||
Carrying value | $ 400 | |||||||
January 2021 VM Sterling Senior Secured Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 5.50% | 5.50% | 5.50% | |||||
Principal amount of debt | £ 628.4 | $ 988.1 | ||||||
Estimated fair value | 1,052.4 | |||||||
Carrying value | $ 1,000.3 | |||||||
January 2021 VM Dollar Senior Secured Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 5.25% | 5.25% | 5.25% | |||||
Principal amount of debt | $ 447.9 | |||||||
Estimated fair value | 471.9 | |||||||
Carrying value | $ 459.1 | |||||||
April 2021 VM Sterling Senior Secured Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 6.00% | 6.00% | 6.00% | |||||
Principal amount of debt | £ 990 | $ 1,556.7 | ||||||
Estimated fair value | 1,626.8 | |||||||
Carrying value | $ 1,556.7 | |||||||
April 2021 VM Dollar Senior Secured Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 5.375% | 5.375% | 5.375% | |||||
Principal amount of debt | $ 900 | |||||||
Estimated fair value | 921.4 | |||||||
Carrying value | $ 900 | |||||||
2025 VM 5.5% Sterling Senior Secured Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 5.50% | 5.50% | 5.50% | |||||
Principal amount of debt | £ 387 | $ 608.5 | ||||||
Estimated fair value | 613.5 | |||||||
Carrying value | $ 608.5 | |||||||
2025 VM Dollar Senior Secured Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 5.50% | 5.50% | 5.50% | |||||
Principal amount of debt | $ 425 | |||||||
Estimated fair value | 427.1 | |||||||
Carrying value | $ 425 | |||||||
2025 VM 5.125% Sterling Senior Secured Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 5.125% | 5.125% | 5.125% | |||||
Principal amount of debt | £ 300 | $ 471.7 | ||||||
Estimated fair value | 466.7 | |||||||
Carrying value | $ 471.7 | |||||||
2026 VM Senior Secured Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 5.25% | 5.25% | 5.25% | |||||
Principal amount of debt | $ 1,000 | |||||||
Estimated fair value | 968.1 | |||||||
Carrying value | $ 1,004.9 | |||||||
2026 VM Senior Secured Notes [Member] | 2020 | ||||||||
Debt Instrument [Line Items] | ||||||||
Redemption price | 102.625% | |||||||
2026 VM Senior Secured Notes [Member] | 2021 | ||||||||
Debt Instrument [Line Items] | ||||||||
Redemption price | 101.313% | |||||||
2026 VM Senior Secured Notes [Member] | 2022 | ||||||||
Debt Instrument [Line Items] | ||||||||
Redemption price | 100.656% | |||||||
2026 VM Senior Secured Notes [Member] | 2023 | ||||||||
Debt Instrument [Line Items] | ||||||||
Redemption price | 100.00% | |||||||
2026 VM Senior Secured Notes [Member] | 2024 and thereafter | ||||||||
Debt Instrument [Line Items] | ||||||||
Redemption price | 100.00% | |||||||
2027 VM Senior Secured Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 4.875% | 4.875% | 4.875% | |||||
Principal amount of debt | £ 525 | $ 825.5 | ||||||
Estimated fair value | 797.2 | |||||||
Carrying value | $ 825.5 | |||||||
2027 VM Senior Secured Notes [Member] | 2021 | ||||||||
Debt Instrument [Line Items] | ||||||||
Redemption price | 102.438% | |||||||
2027 VM Senior Secured Notes [Member] | 2022 | ||||||||
Debt Instrument [Line Items] | ||||||||
Redemption price | 101.219% | |||||||
2027 VM Senior Secured Notes [Member] | 2023 | ||||||||
Debt Instrument [Line Items] | ||||||||
Redemption price | 100.609% | |||||||
2027 VM Senior Secured Notes [Member] | 2024 and thereafter | ||||||||
Debt Instrument [Line Items] | ||||||||
Redemption price | 100.00% | |||||||
2029 VM Senior Secured Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 6.25% | 6.25% | 6.25% | |||||
Principal amount of debt | £ 400 | $ 628.9 | ||||||
Estimated fair value | 653 | |||||||
Carrying value | $ 633.6 | |||||||
VM Senior Secured Notes Redeemed [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Redemption term | 12 months | |||||||
Redemption price | 103.00% | |||||||
Percentage of principal amount limitation | 10.00% | 10.00% | 10.00% | |||||
Additional basis points used to determine redemption premium | 50.00% | 50.00% | 50.00% | |||||
Mandatory redemption price on senior Notes in event that certain assets sold or specific control changed | 101.00% | 101.00% | 101.00% | |||||
VM Senior Secured Notes Redeemed [Member] | Long-term Debt [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Percentage of principal amount redeemed | 10.00% | 10.00% | ||||||
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) | 1.5 | |||||||
VM Credit Facility A [Member] | Long-term Debt [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Extinguishment of debt | £ 375 | 589.6 | ||||||
VM Credit Facility B [Member] | Long-term Debt [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Extinguishment of debt | $ 500 | $ 400 | ||||||
Loss on debt modification and extinguishment | 9.4 | |||||||
Write-off of deferred financing costs | 7.5 | |||||||
Write-off of unamortized debt discount (premium) | $ 1.9 | |||||||
VM Senior Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt acceleration covenant threshold for event of default | £ 75 | $ 117.9 | ||||||
Long-term Debt [Member] | VM Credit Facility B [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Principal amount of debt | $ 2,755 | |||||||
Virgin Media Secured Finance [Member] | Long-term Debt [Member] | 2027 VM Senior Secured Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 4.875% | 4.875% | ||||||
Principal amount of debt | £ 525 | $ 825.5 | ||||||
Virgin Media Secured Finance [Member] | Long-term Debt [Member] | Original 2026 VM Senior Secured Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 5.25% | 5.25% | ||||||
Principal amount of debt | $ 500 | |||||||
Virgin Media Secured Finance [Member] | Long-term Debt [Member] | Additional 2026 VM Senior Secured Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 5.25% | |||||||
Principal amount of debt | $ 500 | |||||||
Issued at par percentage | 101.00% |
Debt and Capital Lease Obliga57
Debt and Capital Lease Obligations (VM Credit Facility) (Details) £ in Millions, $ in Millions | May. 31, 2015 | Jun. 30, 2015GBP (£) | Jun. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Dec. 31, 2014GBP (£) | Dec. 31, 2014USD ($) |
VM Credit Facility [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Unused borrowing capacity | $ 1,061.3 | |||||
Outstanding principal amount | 3,330.7 | |||||
Fee on unused portion of credit facility | 1.10% | |||||
VM Credit Facility [Member] | Line of Credit [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Loss on debt modification and extinguishment | $ 4.8 | |||||
Write-off of deferred financing costs | 3.2 | |||||
Write-off of unamortized debt discount (premium) | 0.8 | |||||
Payment of third party costs | 0.8 | |||||
VM Credit Facility D [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Facility amount | £ | £ 100 | |||||
Unused borrowing capacity | 0 | |||||
Outstanding principal amount | 156.9 | |||||
VM Credit Facility D [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Basis spread on variable rate | 3.25% | |||||
VM Credit Facility E [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Facility amount | £ | 849.4 | |||||
Unused borrowing capacity | 0 | |||||
Outstanding principal amount | 1,332.6 | |||||
VM Credit Facility E [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Basis spread on variable rate | 3.50% | |||||
VM Credit Facility F [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Facility amount | 1,855 | $ 1,855 | 1,855 | |||
Unused borrowing capacity | 0 | |||||
Outstanding principal amount | 1,841.2 | |||||
VM Credit Facility F [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Basis spread on variable rate | 2.75% | |||||
VM Revolving Credit Facility [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Facility amount | £ | £ 675 | |||||
Unused borrowing capacity | 1,061.3 | |||||
Outstanding principal amount | $ 0 | |||||
Commitment increase (decrease) | £ 15 | $ 23.6 | ||||
VM Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Basis spread on variable rate | 3.25% | 2.75% | 2.75% | 2.75% | ||
VM Credit Facility D. E, and F [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Floor rate | 0.75% | 0.75% |
Debt and Capital Lease Obliga58
Debt and Capital Lease Obligations (Ziggo Credit Facilities) (Details) $ in Millions | Jul. 28, 2015EUR (€) | Jul. 28, 2015USD ($) | Jun. 30, 2015EUR (€) | Jun. 30, 2015USD ($) |
Ziggo USD Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Facility amount | $ 2,350 | |||
Unused borrowing capacity | 0 | |||
Carrying value | $ 2,317.5 | |||
Ziggo USD Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt Instrument [Line Items] | ||||
Basis spread on variable rate | 2.75% | |||
Floor rate | 0.75% | 0.75% | ||
Ziggo Euro Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Facility amount | € | € 2,000,000,000 | |||
Unused borrowing capacity | $ 0 | |||
Carrying value | $ 2,209.5 | |||
Ziggo Euro Facility [Member] | EURIBOR [Member] | ||||
Debt Instrument [Line Items] | ||||
Basis spread on variable rate | 3.00% | |||
Floor rate | 0.75% | 0.75% | ||
Senior Secured Proceeds Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Facility amount | € | € 800,000,000 | |||
Unused borrowing capacity | $ 0 | |||
Carrying value | $ 892.2 | |||
Interest rate | 3.75% | 3.75% | ||
Euro Senior Proceeds Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Facility amount | € | € 400,000,000 | |||
Unused borrowing capacity | $ 0 | |||
Carrying value | $ 446.1 | |||
Interest rate | 4.625% | 4.625% | ||
Dollar Senior Proceeds Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Facility amount | $ 400 | |||
Unused borrowing capacity | 0 | |||
Carrying value | $ 400 | |||
Interest rate | 5.875% | 5.875% | ||
New Ziggo Credit Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Facility amount | € | € 689,200,000 | |||
Unused borrowing capacity | $ 0 | |||
Carrying value | 768.6 | |||
New Ziggo Credit Facility [Member] | EURIBOR [Member] | ||||
Debt Instrument [Line Items] | ||||
Basis spread on variable rate | 3.75% | |||
Ziggo Revolving Facilities [Member] | ||||
Debt Instrument [Line Items] | ||||
Facility amount | € | € 650,000,000 | |||
Unused borrowing capacity | 501.9 | |||
Carrying value | 223.1 | |||
Elimination of the Proceeds Loans in consolidation [Member] | ||||
Debt Instrument [Line Items] | ||||
Unused borrowing capacity | 0 | |||
Carrying value | (1,738.3) | |||
Ziggo Credit Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Unused borrowing capacity | 501.9 | |||
Carrying value | 5,518.7 | |||
Unused borrowing capacity, compliance requirements met | 409,000,000 | 456.2 | ||
Ziggo Revolving Facility One [Member] | ||||
Debt Instrument [Line Items] | ||||
Facility amount | € 600,000,000 | 669.2 | ||
Fee on unused portion of credit facility | 1.10% | |||
Ziggo Revolving Facility One [Member] | EURIBOR [Member] | ||||
Debt Instrument [Line Items] | ||||
Basis spread on variable rate | 2.75% | |||
Ziggo Revolving Facility Two [Member] | ||||
Debt Instrument [Line Items] | ||||
Facility amount | € 50,000,000 | $ 55.8 | ||
Fee on unused portion of credit facility | 0.80% | |||
Ziggo Revolving Facility Two [Member] | EURIBOR [Member] | ||||
Debt Instrument [Line Items] | ||||
Basis spread on variable rate | 2.00% | |||
Subsequent Event [Member] | Ziggo Credit Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Commitment increase (decrease) | € 150,000,000 | $ 167.3 |
Debt and Capital Lease Obliga59
Debt and Capital Lease Obligations (Unitymedia Notes) (Details) € in Millions, $ in Millions | Mar. 30, 2015 | Mar. 16, 2015EUR (€) | Mar. 16, 2015USD ($) | Mar. 11, 2015USD ($) | Jun. 30, 2015EUR (€) | Jun. 30, 2015USD ($) | Mar. 16, 2015USD ($) | Mar. 11, 2015EUR (€) | Mar. 11, 2015USD ($) | Dec. 31, 2014USD ($) |
Debt Instrument [Line Items] | ||||||||||
Estimated fair value | $ 45,524.5 | $ 46,151.1 | ||||||||
Long-term Debt | 44,624.9 | 44,611.4 | ||||||||
Unitymedia Notes [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal amount of debt | 7,441 | |||||||||
Estimated fair value | 7,698.7 | 7,869.3 | ||||||||
Long-term Debt | 7,441 | $ 7,400.9 | ||||||||
September 2012 UM Senior Secured Notes [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal amount of debt | € 585 | $ 652.4 | ||||||||
Interest rate | 5.50% | 5.50% | ||||||||
Estimated fair value | $ 696.9 | |||||||||
Long-term Debt | 652.4 | |||||||||
December 2012 UM Dollar Senior Secured Notes [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal amount of debt | $ 1,000 | |||||||||
Interest rate | 5.50% | 5.50% | ||||||||
Estimated fair value | $ 1,019.4 | |||||||||
Long-term Debt | 1,000 | |||||||||
December 2012 UM Euro Senior Secured Notes [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal amount of debt | € 450 | $ 501.9 | ||||||||
Interest rate | 5.75% | 5.75% | ||||||||
Estimated fair value | $ 542 | |||||||||
Long-term Debt | 501.9 | |||||||||
January 2013 UM Senior Secured Notes [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal amount of debt | € 450 | $ 501.9 | ||||||||
Interest rate | 5.125% | 5.125% | ||||||||
Estimated fair value | $ 531.7 | |||||||||
Long-term Debt | 501.9 | |||||||||
April 2013 UM Senior Secured Notes [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal amount of debt | € 315 | $ 351.3 | ||||||||
Interest rate | 5.625% | 5.625% | ||||||||
Estimated fair value | $ 379.6 | |||||||||
Long-term Debt | 351.3 | |||||||||
November 2013 UM Senior Secured Notes [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal amount of debt | € 475 | $ 529.8 | ||||||||
Interest rate | 6.25% | 6.25% | ||||||||
Estimated fair value | $ 597.6 | |||||||||
Long-term Debt | 529.8 | |||||||||
October 2014 UM Senior Notes [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal amount of debt | $ 900 | |||||||||
Interest rate | 6.125% | 6.125% | ||||||||
Estimated fair value | $ 940.5 | |||||||||
Long-term Debt | 900 | |||||||||
December 2014 UM Euro Senior Secured Notes [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal amount of debt | € 1,000 | $ 1,115.3 | ||||||||
Interest rate | 4.00% | 4.00% | ||||||||
Estimated fair value | $ 1,141.1 | |||||||||
Long-term Debt | 1,115.3 | |||||||||
December 2014 UM Dollar Senior Secured Notes [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal amount of debt | $ 550 | |||||||||
Interest rate | 5.00% | 5.00% | ||||||||
Estimated fair value | $ 546.6 | |||||||||
Long-term Debt | 550 | |||||||||
March 2015 UM Senior Notes [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal amount of debt | € 700 | $ 780.7 | ||||||||
Interest rate | 3.75% | 3.75% | ||||||||
Estimated fair value | $ 756.8 | |||||||||
Long-term Debt | 780.7 | |||||||||
March 2015 UM Senior Secured Notes [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal amount of debt | € 500 | $ 557.7 | ||||||||
Interest rate | 3.50% | 3.50% | ||||||||
Estimated fair value | $ 546.5 | |||||||||
Long-term Debt | $ 557.7 | |||||||||
UM Senior Secured Notes Redeemed [Member] | Long-term Debt [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Percentage of principal amount redeemed | 10.00% | |||||||||
Redemption price | 103.00% | 103.00% | ||||||||
Loss on debt modification and extinguishment | $ (8.1) | |||||||||
Payments for debt redemption premium | 6.4 | |||||||||
Write-off of deferred financing costs | $ 1.7 | |||||||||
UM Senior Exchange Notes [Member] | Long-term Debt [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 9.50% | 9.50% | ||||||||
Extinguishment of debt | € 618 | $ 689.3 | ||||||||
Loss on debt modification and extinguishment | 91.2 | |||||||||
Payments for debt redemption premium | 89.8 | |||||||||
Write-off of unamortized debt discount (premium) | $ 1.4 | |||||||||
Long-term Debt [Member] | March 2015 UM Senior Notes [Member] | 2021 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Redemption price | 101.875% | |||||||||
Long-term Debt [Member] | March 2015 UM Senior Notes [Member] | 2022 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Redemption price | 100.938% | |||||||||
Long-term Debt [Member] | March 2015 UM Senior Notes [Member] | 2023 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Redemption price | 100.469% | |||||||||
Long-term Debt [Member] | March 2015 UM Senior Notes [Member] | 2024 and thereafter | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Redemption price | 100.00% | |||||||||
Long-term Debt [Member] | March 2015 UM Senior Secured Notes [Member] | 2021 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Redemption price | 101.75% | |||||||||
Long-term Debt [Member] | March 2015 UM Senior Secured Notes [Member] | 2022 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Redemption price | 100.875% | |||||||||
Long-term Debt [Member] | March 2015 UM Senior Secured Notes [Member] | 2023 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Redemption price | 100.438% | |||||||||
Long-term Debt [Member] | March 2015 UM Senior Secured Notes [Member] | 2024 and thereafter | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Redemption price | 100.00% | |||||||||
Long-term Debt [Member] | 2015 UM Notes [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Redemption term | 12 months | |||||||||
Additional basis points used to determine redemption premium | 50.00% | 50.00% | ||||||||
Portion of debt threshold default In excess of which trigger event of default for aggregate debt | € 75 | $ 83.6 | ||||||||
Redemption price, percentage in event that certain assets sold or specific control changed | 101.00% | 101.00% | ||||||||
UM Senior Secured Note Issuers [Member] | Long-term Debt [Member] | 2015 UM Senior Secured Notes [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal amount of debt | € 500 | $ 557.7 | ||||||||
Interest rate | 3.50% | 3.50% | ||||||||
Unitymedia [Member] | Long-term Debt [Member] | 2015 UM Senior Notes [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal amount of debt | € 700 | $ 780.7 | ||||||||
Interest rate | 3.75% | 3.75% |
Debt and Capital Lease Obliga60
Debt and Capital Lease Obligations (UPC Broadband Holding Bank Facility) (Details) € in Millions, $ in Millions | Aug. 03, 2015EUR (€) | May. 20, 2015EUR (€) | May. 20, 2015USD ($) | Mar. 31, 2015EUR (€) | Mar. 31, 2015USD ($) | Jun. 30, 2015EUR (€) | Jun. 30, 2015USD ($) | Aug. 03, 2015USD ($) | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) |
UPC Broadband Holding Bank Facility [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Unused borrowing capacity | $ 1,166.9 | |||||||||
Carrying value | 1,302.2 | |||||||||
Unused borrowing capacity considering limitations | € 381 | 424.9 | ||||||||
Unused borrowing capacity, compliance requirements met | € 531.6 | $ 592.9 | ||||||||
UPC Broadband Holding Bank Facility [Member] | Line of Credit [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Loss on debt modification and extinguishment | $ 74.7 | |||||||||
Payments for debt redemption premium | 53.5 | |||||||||
Write-off of deferred financing costs | 16.5 | |||||||||
Write-off of unamortized debt discount (premium) | 4.7 | |||||||||
UPC Broadband Holding Bank Facility AC Debt [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 7.25% | 7.25% | ||||||||
Facility amount | $ 675 | |||||||||
Unused borrowing capacity | 0 | |||||||||
Carrying value | $ 675 | |||||||||
UPC Broadband Holding Bank Facility AD Debt [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 6.875% | 6.875% | ||||||||
Facility amount | $ 675 | |||||||||
Unused borrowing capacity | 0 | |||||||||
Carrying value | $ 675 | |||||||||
UPC Broadband Holding Bank Facility AK Debt [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 4.00% | 4.00% | ||||||||
Facility amount | € | € 600 | |||||||||
Unused borrowing capacity | $ 0 | |||||||||
Carrying value | $ 669.2 | |||||||||
UPC Broadband Holding Bank Facility AL Debt [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 5.375% | 5.375% | ||||||||
Facility amount | $ 1,140 | |||||||||
Unused borrowing capacity | 0 | |||||||||
Carrying value | 1,140 | |||||||||
UPC Broadband Holding Bank Facility AH Debt [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Facility amount | 1,305 | |||||||||
Unused borrowing capacity | 0 | |||||||||
Carrying value | $ 1,302.2 | |||||||||
Floor rate | 0.75% | 0.75% | ||||||||
UPC Broadband Holding Bank Facility AH Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Basis spread on variable rate | 2.50% | 2.50% | ||||||||
UPC Broadband Holding Bank Facility AI Debt [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Facility amount | € | € 1,046.2 | |||||||||
Unused borrowing capacity | $ 1,166.9 | |||||||||
Carrying value | 0 | |||||||||
Fee on unused portion of credit facility | 1.30% | 1.30% | ||||||||
UPC Broadband Holding Bank Facility AI Debt [Member] | EURIBOR [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Basis spread on variable rate | 3.25% | 3.25% | ||||||||
UPC Broadband Holding Bank Facility AI Debt [Member] | Line of Credit [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Extinguishment of debt | € 400 | $ 446.1 | € 200 | $ 223.1 | ||||||
Loss on debt modification and extinguishment | 59.6 | |||||||||
Payments for debt redemption premium | 54.3 | |||||||||
Write-off of deferred financing costs | 5.3 | |||||||||
Elimination of Facilities AC, AD, AK and AL in Consolidation [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Unused borrowing capacity | 0 | |||||||||
Carrying value | $ (3,159.2) | |||||||||
UPCB Finance I Notes [Member] | Line of Credit [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 7.625% | 7.625% | ||||||||
Extinguishment of debt | € 500 | 557.7 | ||||||||
UPC Broadband Holding Bank Facility Y Debt [Member] | Line of Credit [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Extinguishment of debt | € 190 | $ 211.9 | ||||||||
UPC Broadband Holding Bank Facility Y Debt [Member] | Long-term Debt [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Extinguishment of debt | € 560 | 624.6 | ||||||||
UPCB Finance II Senior Secured Notes [Member] | Long-term Debt [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 6.375% | 6.375% | ||||||||
Principal amount of debt | € 750 | $ 836.5 | ||||||||
UPC Broadband Holding Bank Facility AG [Member] | Line of Credit [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Extinguishment of debt | € 870.2 | $ 970.6 | ||||||||
UPC Broadband Holding Bank Facility AM [Member] | Long-term Debt [Member] | Subsequent Event [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Fee on unused portion of credit facility | 1.10% | |||||||||
Principal amount of debt | € 990.1 | $ 1,104.3 | ||||||||
UPC Broadband Holding Bank Facility AM [Member] | Long-term Debt [Member] | EURIBOR [Member] | Subsequent Event [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Basis spread on variable rate | 2.75% |
Debt and Capital Lease Obliga61
Debt and Capital Lease Obligations (UPC Holding Senior Notes) (Details) € in Millions, SFr in Millions, $ in Millions | 3 Months Ended | |||||
Mar. 31, 2015EUR (€) | Mar. 31, 2015USD ($) | Jun. 30, 2015CHF (SFr) | Jun. 30, 2015EUR (€) | Jun. 30, 2015USD ($) | Dec. 31, 2014USD ($) | |
Debt Instrument [Line Items] | ||||||
Outstanding principal amount | $ 44,623.8 | |||||
Estimated fair value | 45,524.5 | $ 46,151.1 | ||||
Carrying value | 44,624.9 | 44,611.4 | ||||
UPC Holding Senior Notes [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Outstanding principal amount | 1,545.4 | |||||
Estimated fair value | 1,674 | 2,603.6 | ||||
Carrying value | 1,540.6 | $ 2,391.6 | ||||
UPC Holding Senior Notes 6.375 Debt [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Outstanding principal amount | € 600 | 669.2 | ||||
Estimated fair value | 719.4 | |||||
Carrying value | $ 664.4 | |||||
Interest rate | 6.375% | 6.375% | 6.375% | |||
UPC Holding 6.75% Euro Senior Notes [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Outstanding principal amount | € 450 | $ 501.9 | ||||
Estimated fair value | 547.4 | |||||
Carrying value | $ 501.9 | |||||
Interest rate | 6.75% | 6.75% | 6.75% | |||
UPC Holding 6.75% CHF Senior Notes [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Outstanding principal amount | SFr 350 | $ 374.3 | ||||
Estimated fair value | 407.2 | |||||
Carrying value | $ 374.3 | |||||
Interest rate | 6.75% | 6.75% | 6.75% | |||
UPC Holding 8.375 % Senior Notes [Member] | Long-term Debt [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Extinguishment of debt | € 640 | $ 713.8 | ||||
Interest rate | 8.375% | 8.375% | ||||
Loss on debt modification and extinguishment | $ 69.3 | |||||
Payments for debt redemption premium | 59.2 | |||||
Write-off of deferred financing costs | $ 10.1 |
Debt and Capital Lease Obliga62
Debt and Capital Lease Obligations (UPCB SPE Notes) (Details) € in Millions, $ in Millions | May. 20, 2015EUR (€) | May. 20, 2015USD ($) | Mar. 31, 2015EUR (€) | Mar. 31, 2015USD ($) | Jun. 30, 2015EUR (€) | Jun. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Dec. 31, 2014USD ($) |
Debt Instrument [Line Items] | ||||||||
Estimated fair value | $ 45,524.5 | $ 46,151.1 | ||||||
Carrying value | $ 44,624.9 | $ 44,611.4 | ||||||
UPCB Finance IV [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Ownership percentage of special purpose financing entity | 100.00% | 100.00% | ||||||
UPCB SPE Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Principal amount of debt | $ 3,159.2 | |||||||
Estimated fair value | 3,171.1 | |||||||
Carrying value | 3,157.5 | |||||||
UPCB Finance IV Dollar Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Principal amount of debt | 1,140 | |||||||
Estimated fair value | 1,090.8 | |||||||
Carrying value | $ 1,138.3 | |||||||
UPCB Finance IV Dollar Notes [Member] | 2020 | ||||||||
Debt Instrument [Line Items] | ||||||||
Redemption price | 102.688% | 102.688% | ||||||
UPCB Finance IV Dollar Notes [Member] | 2021 | ||||||||
Debt Instrument [Line Items] | ||||||||
Redemption price | 101.792% | 101.792% | ||||||
UPCB Finance IV Dollar Notes [Member] | 2022 | ||||||||
Debt Instrument [Line Items] | ||||||||
Redemption price | 100.896% | 100.896% | ||||||
UPCB Finance IV Dollar Notes [Member] | 2023 | ||||||||
Debt Instrument [Line Items] | ||||||||
Redemption price | 100.00% | 100.00% | ||||||
UPCB Finance IV Dollar Notes [Member] | 2024 and thereafter | ||||||||
Debt Instrument [Line Items] | ||||||||
Redemption price | 100.00% | 100.00% | ||||||
UPCB Finance IV Dollar Notes [Member] | Long-term Debt [Member] | UPCB Finance IV [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 5.375% | 5.375% | ||||||
Principal amount of debt | $ 800 | |||||||
UPCB Finance IV Euro Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Principal amount of debt | 669.2 | |||||||
Estimated fair value | 632 | |||||||
Carrying value | $ 669.2 | |||||||
UPCB Finance IV Euro Notes [Member] | 2021 | ||||||||
Debt Instrument [Line Items] | ||||||||
Redemption price | 102.00% | 102.00% | ||||||
UPCB Finance IV Euro Notes [Member] | 2022 | ||||||||
Debt Instrument [Line Items] | ||||||||
Redemption price | 101.00% | 101.00% | ||||||
UPCB Finance IV Euro Notes [Member] | 2023 | ||||||||
Debt Instrument [Line Items] | ||||||||
Redemption price | 100.50% | 100.50% | ||||||
UPCB Finance IV Euro Notes [Member] | 2024 and thereafter | ||||||||
Debt Instrument [Line Items] | ||||||||
Redemption price | 100.00% | 100.00% | ||||||
UPCB Finance IV Euro Notes [Member] | Long-term Debt [Member] | UPCB Finance IV [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 4.00% | 4.00% | ||||||
Principal amount of debt | € 600 | $ 669.2 | ||||||
UPCB Finance V Senior Secured Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 7.25% | 7.25% | ||||||
Principal amount of debt | $ 675 | |||||||
Estimated fair value | 726.5 | |||||||
Carrying value | $ 675 | |||||||
UPCB Finance VI Senior Secured Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 6.875% | 6.875% | ||||||
Principal amount of debt | $ 675 | |||||||
Estimated fair value | 721.8 | |||||||
Carrying value | $ 675 | |||||||
UPCB Finance VI Senior Secured Notes [Member] | Long-term Debt [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Percentage of principal amount redeemed | 10.00% | 10.00% | ||||||
Redemption price | 103.00% | 103.00% | ||||||
UPC Broadband Holding Bank Facility Y Debt [Member] | Line of Credit [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Extinguishment of debt | € 190 | $ 211.9 | ||||||
UPC Broadband Holding Bank Facility Y Debt [Member] | Long-term Debt [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Extinguishment of debt | € 560 | $ 624.6 | ||||||
UPCB Finance V Notes [Member] | Long-term Debt [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Percentage of principal amount redeemed | 10.00% | 10.00% | ||||||
UPC Broadband Holding Bank Facility AI Debt [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Facility amount | € | € 1,046.2 | |||||||
UPC Broadband Holding Bank Facility AI Debt [Member] | Line of Credit [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Extinguishment of debt | € 400 | $ 446.1 | € 200 | $ 223.1 | ||||
Loss on debt modification and extinguishment | 59.6 | |||||||
Payments for debt redemption premium | 54.3 | |||||||
Write-off of deferred financing costs | $ 5.3 | |||||||
Additional UPCB Finance IV Dollar Notes [Member] | UPCB Finance IV [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 5.375% | |||||||
Principal amount of debt | $ 340 | |||||||
Issued at par percentage | 99.50% | |||||||
UPCB Finance IV Notes [Member] | Long-term Debt [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Percentage of principal amount redeemed | 10.00% | 10.00% | ||||||
Redemption price | 103.00% | 103.00% | ||||||
Redemption price, general rate for an early redemption event | 100.00% | 100.00% | ||||||
Additional basis points used to determine redemption premium | 50.00% | 50.00% | ||||||
Redemption term | 12 months | 12 months | ||||||
Redemption price, percentage in event that certain assets sold or specific control changed | 101.00% | 101.00% |
Debt and Capital Lease Obliga63
Debt and Capital Lease Obligations (Telenet Credit Facility) (Details) € in Millions, $ in Millions | 6 Months Ended | ||
Jun. 30, 2015USD ($) | Jul. 01, 2015EUR (€) | Jul. 01, 2015USD ($) | |
Telenet Credit Facility M [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate | 6.375% | ||
Facility amount | $ 500 | ||
Unused borrowing capacity | 0 | ||
Carrying value | $ 557.7 | ||
Telenet Credit Facility O [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate | 6.625% | ||
Facility amount | $ 300 | ||
Unused borrowing capacity | 0 | ||
Carrying value | 334.6 | ||
Telenet Credit Facility P [Member] | |||
Debt Instrument [Line Items] | |||
Facility amount | 400 | ||
Unused borrowing capacity | 0 | ||
Carrying value | $ 446.1 | ||
Telenet Credit Facility P [Member] | EURIBOR [Member] | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 3.875% | ||
Telenet Credit Facility S [Member] | |||
Debt Instrument [Line Items] | |||
Facility amount | $ 36.9 | ||
Unused borrowing capacity | 41.1 | ||
Carrying value | $ 0 | ||
Fee on unused portion of credit facility | 1.10% | ||
Telenet Credit Facility S [Member] | Subsequent Event [Member] | Line of Credit [Member] | |||
Debt Instrument [Line Items] | |||
Facility amount | $ 11.2 | ||
Telenet Credit Facility S [Member] | EURIBOR [Member] | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 2.75% | ||
Telenet Credit Facility U [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate | 6.25% | ||
Facility amount | $ 450 | ||
Unused borrowing capacity | 0 | ||
Carrying value | $ 501.9 | ||
Telenet Credit Facility V [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate | 6.75% | ||
Facility amount | $ 250 | ||
Unused borrowing capacity | 0 | ||
Carrying value | 278.8 | ||
Telenet Credit Facility W [Member] | |||
Debt Instrument [Line Items] | |||
Facility amount | 474.1 | ||
Unused borrowing capacity | 0 | ||
Carrying value | $ 527.7 | ||
Telenet Credit Facility W [Member] | EURIBOR [Member] | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 3.25% | ||
Telenet Credit Facility X [Member] | |||
Debt Instrument [Line Items] | |||
Facility amount | $ 286 | ||
Unused borrowing capacity | 319 | ||
Carrying value | $ 0 | ||
Fee on unused portion of credit facility | 1.10% | ||
Telenet Credit Facility X [Member] | Subsequent Event [Member] | |||
Debt Instrument [Line Items] | |||
Facility amount | € 95 | 106 | |
Telenet Credit Facility X [Member] | EURIBOR [Member] | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 2.75% | ||
Telenet Credit Facility X2 [Member] | Subsequent Event [Member] | |||
Debt Instrument [Line Items] | |||
Facility amount | 85 | $ 94.8 | |
Telenet Credit Facility X2 [Member] | Subsequent Event [Member] | Line of Credit [Member] | |||
Debt Instrument [Line Items] | |||
Facility amount | € | € 10 | ||
Telenet Credit Facility Y [Member] | |||
Debt Instrument [Line Items] | |||
Facility amount | $ 882.9 | ||
Unused borrowing capacity | 0 | ||
Carrying value | $ 982.8 | ||
Telenet Credit Facility Y [Member] | EURIBOR [Member] | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 3.50% | ||
Telenet Credit Facility Z [Member] | |||
Debt Instrument [Line Items] | |||
Facility amount | $ 200 | ||
Carrying value | $ 0 | ||
Fee on unused portion of credit facility | 0.80% | ||
Telenet Credit Facility Z [Member] | EURIBOR [Member] | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 2.25% | ||
Telenet Credit Facility AA [Member] | |||
Debt Instrument [Line Items] | |||
Facility amount | $ 800 | ||
Carrying value | $ 0 | ||
Telenet Credit Facility AA [Member] | EURIBOR [Member] | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 3.50% | ||
Elimination of Telenet Facilities M, O, P, U and V in Consolidation [Member] | |||
Debt Instrument [Line Items] | |||
Unused borrowing capacity | $ 0 | ||
Carrying value | (2,119.1) | ||
Telenet Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Unused borrowing capacity | 360.1 | ||
Carrying value | $ 1,510.5 |
Debt and Capital Lease Obliga64
Debt and Capital Lease Obligations (Maturities of Debt) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Debt Instrument [Line Items] | ||
2015 (remainder of year) | $ 710.9 | |
2,016 | 923.3 | |
2,017 | 916.8 | |
2,018 | 245.1 | |
2,019 | 18.9 | |
2,020 | 650.1 | |
Thereafter | 41,158.7 | |
Total debt maturities | 44,623.8 | |
Unamortized premium (discount) | 1.1 | |
Total debt | 44,624.9 | $ 44,611.4 |
Current portion (d) | 1,436.5 | |
Noncurrent portion | 43,188.4 | |
Liberty Global Group [Member] | ||
Debt Instrument [Line Items] | ||
2015 (remainder of year) | 710.9 | |
2,016 | 923.3 | |
2,017 | 916.8 | |
2,018 | 245.1 | |
2,019 | 18.9 | |
2,020 | 650.1 | |
Thereafter | 38,816.2 | |
Total debt maturities | 42,281.3 | |
Unamortized premium (discount) | 10.4 | |
Total debt | 42,291.7 | 42,539.4 |
Current portion (d) | 1,436.5 | |
Noncurrent portion | 40,855.2 | |
Liberty Global Group [Member] | Virgin Media [Member] | ||
Debt Instrument [Line Items] | ||
2015 (remainder of year) | 90.4 | |
2,016 | 191.8 | |
2,017 | 0 | |
2,018 | 0 | |
2,019 | 0 | |
2,020 | 0 | |
Thereafter | 14,291.2 | |
Total debt maturities | 14,573.4 | |
Unamortized premium (discount) | 19.6 | |
Total debt | 14,593 | |
Current portion (d) | 283.9 | |
Noncurrent portion | 14,309.1 | |
Liberty Global Group [Member] | Ziggo Group Holding [Member] | ||
Debt Instrument [Line Items] | ||
2015 (remainder of year) | 245.9 | |
2,016 | 0.4 | |
2,017 | 0 | |
2,018 | 0 | |
2,019 | 0 | |
2,020 | 80 | |
Thereafter | 7,916.3 | |
Total debt maturities | 8,242.6 | |
Unamortized premium (discount) | 26.7 | |
Total debt | 8,269.3 | |
Current portion (d) | 245.9 | |
Noncurrent portion | 8,023.4 | |
Liberty Global Group [Member] | Unitymedia [Member] | ||
Debt Instrument [Line Items] | ||
2015 (remainder of year) | 83.1 | |
2,016 | 57.7 | |
2,017 | 0 | |
2,018 | 0 | |
2,019 | 0 | |
2,020 | 0 | |
Thereafter | 7,441 | |
Total debt maturities | 7,581.8 | |
Unamortized premium (discount) | 0 | |
Total debt | 7,581.8 | |
Current portion (d) | 140.8 | |
Noncurrent portion | 7,441 | |
Liberty Global Group [Member] | UPC Holding [Member] | ||
Debt Instrument [Line Items] | ||
2015 (remainder of year) | 262.9 | |
2,016 | 296.5 | |
2,017 | 0 | |
2,018 | 0 | |
2,019 | 0 | |
2,020 | 0 | |
Thereafter | 6,009.5 | |
Total debt maturities | 6,568.9 | |
Unamortized premium (discount) | (9.2) | |
Total debt | 6,559.7 | |
Current portion (d) | 559.4 | |
Noncurrent portion | 6,000.3 | |
Liberty Global Group [Member] | Telenet [Member] | ||
Debt Instrument [Line Items] | ||
2015 (remainder of year) | 8.3 | |
2,016 | 8.3 | |
2,017 | 8.3 | |
2,018 | 8.3 | |
2,019 | 18.9 | |
2,020 | 570.1 | |
Thereafter | 3,158 | |
Total debt maturities | 3,780.2 | |
Unamortized premium (discount) | (2.9) | |
Total debt | 3,777.3 | |
Current portion (d) | 8.3 | |
Noncurrent portion | 3,769 | |
Liberty Global Group [Member] | Other Subsidiaries [Member] | ||
Debt Instrument [Line Items] | ||
2015 (remainder of year) | 20.3 | |
2,016 | 368.6 | |
2,017 | 908.5 | |
2,018 | 236.8 | |
2,019 | 0 | |
2,020 | 0 | |
Thereafter | 0.2 | |
Total debt maturities | 1,534.4 | |
Unamortized premium (discount) | (23.8) | |
Total debt | 1,510.6 | |
Current portion (d) | 198.2 | |
Noncurrent portion | 1,312.4 | |
LiLAC Group [Member] | ||
Debt Instrument [Line Items] | ||
2015 (remainder of year) | 0 | |
2,016 | 0 | |
2,017 | 0 | |
2,018 | 0 | |
2,019 | 0 | |
2,020 | 0 | |
Thereafter | 2,342.5 | |
Total debt maturities | 2,342.5 | |
Unamortized premium (discount) | (9.3) | |
Total debt | 2,333.2 | $ 2,072 |
Current portion (d) | 0 | |
Noncurrent portion | 2,333.2 | |
LiLAC Group [Member] | VTR [Member] | ||
Debt Instrument [Line Items] | ||
2015 (remainder of year) | 0 | |
2,016 | 0 | |
2,017 | 0 | |
2,018 | 0 | |
2,019 | 0 | |
2,020 | 0 | |
Thereafter | 1,400 | |
Total debt maturities | 1,400 | |
Unamortized premium (discount) | 0 | |
Total debt | 1,400 | |
Current portion (d) | 0 | |
Noncurrent portion | 1,400 | |
LiLAC Group [Member] | Liberty Puerto Rico [Member] | ||
Debt Instrument [Line Items] | ||
2015 (remainder of year) | 0 | |
2,016 | 0 | |
2,017 | 0 | |
2,018 | 0 | |
2,019 | 0 | |
2,020 | 0 | |
Thereafter | 942.5 | |
Total debt maturities | 942.5 | |
Unamortized premium (discount) | (9.3) | |
Total debt | 933.2 | |
Current portion (d) | 0 | |
Noncurrent portion | $ 933.2 |
Debt and Capital Lease Obliga65
Debt and Capital Lease Obligations (Capital Lease Obligations) (Schedule) (Details) $ in Millions | Jun. 30, 2015USD ($) |
Debt Instrument [Line Items] | |
2015 (remainder of year) | $ 151.8 |
2,016 | 242.1 |
2,017 | 194.7 |
2,018 | 161.1 |
2,019 | 142.1 |
2,020 | 137 |
Thereafter | 1,279 |
Total principal and interest payments | 2,307.8 |
Amounts representing interest | (878.7) |
Present value of net minimum lease payments | 1,429.1 |
Current portion | 177.4 |
Noncurrent portion | 1,251.7 |
Unitymedia [Member] | |
Debt Instrument [Line Items] | |
2015 (remainder of year) | 40.8 |
2,016 | 81.8 |
2,017 | 81.8 |
2,018 | 81.8 |
2,019 | 81.8 |
2,020 | 81.8 |
Thereafter | 808.4 |
Total principal and interest payments | 1,258.2 |
Amounts representing interest | (523.8) |
Present value of net minimum lease payments | 734.4 |
Current portion | 26 |
Noncurrent portion | 708.4 |
Telenet [Member] | |
Debt Instrument [Line Items] | |
2015 (remainder of year) | 38 |
2,016 | 61 |
2,017 | 59.5 |
2,018 | 57.4 |
2,019 | 47.7 |
2,020 | 45 |
Thereafter | 206.8 |
Total principal and interest payments | 515.4 |
Amounts representing interest | (131.6) |
Present value of net minimum lease payments | 383.8 |
Current portion | 39.1 |
Noncurrent portion | 344.7 |
Virgin Media [Member] | |
Debt Instrument [Line Items] | |
2015 (remainder of year) | 59.9 |
2,016 | 75.8 |
2,017 | 35.8 |
2,018 | 11.1 |
2,019 | 5.6 |
2,020 | 4.5 |
Thereafter | 219.7 |
Total principal and interest payments | 412.4 |
Amounts representing interest | (196.8) |
Present value of net minimum lease payments | 215.6 |
Current portion | 92 |
Noncurrent portion | 123.6 |
Other Subsidiaries [Member] | |
Debt Instrument [Line Items] | |
2015 (remainder of year) | 12.5 |
2,016 | 23.1 |
2,017 | 17.3 |
2,018 | 10.8 |
2,019 | 7 |
2,020 | 5.7 |
Thereafter | 44.1 |
Total principal and interest payments | 120.5 |
Amounts representing interest | (26.4) |
Present value of net minimum lease payments | 94.1 |
Current portion | 19.4 |
Noncurrent portion | 74.7 |
Liberty Global Group [Member] | |
Debt Instrument [Line Items] | |
2015 (remainder of year) | 151.2 |
2,016 | 241.7 |
2,017 | 194.4 |
2,018 | 161.1 |
2,019 | 142.1 |
2,020 | 137 |
Thereafter | 1,279 |
Total principal and interest payments | 2,306.5 |
Amounts representing interest | (878.6) |
Present value of net minimum lease payments | 1,427.9 |
Current portion | 176.5 |
Noncurrent portion | 1,251.4 |
LiLAC Group [Member] | |
Debt Instrument [Line Items] | |
2015 (remainder of year) | 0.6 |
2,016 | 0.4 |
2,017 | 0.3 |
2,018 | 0 |
2,019 | 0 |
2,020 | 0 |
Thereafter | 0 |
Total principal and interest payments | 1.3 |
Amounts representing interest | (0.1) |
Present value of net minimum lease payments | 1.2 |
Current portion | 0.9 |
Noncurrent portion | $ 0.3 |
Debt and Capital Lease Obliga66
Debt and Capital Lease Obligations (Non-cash Refinancing Transactions) (Narrative) (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Debt and Capital Lease Obligations [Abstract] | ||
Refinancing transactions, aggregate borrowings and repayments of debt | $ 3,586.5 | $ 2,219.6 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Income Taxes [Line Items] | ||
Unrecognized tax benefits | $ 561.6 | |
Unrecognized tax benefits that would have a favorable impact | 284.5 | |
Reductions to unrecognized tax benefits, upper bound | $ 250 | |
Domestic Tax Authority [Member] | ||
Income Taxes [Line Items] | ||
Income tax rate | 20.00% | 21.00% |
Income Taxes (Reconciliation of
Income Taxes (Reconciliation of Federal to Effective Taxes) (Schedule) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Accrued Income Taxes [Abstract] | ||||
Computed “expected” tax benefit (expense) | $ 56 | $ 49.3 | $ 175.9 | $ 162 |
Change in valuation allowances: | ||||
Decrease | (160.3) | (193.5) | (386.3) | (248.7) |
Increase | 42.8 | 101.3 | 43.8 | 106.2 |
International rate differences: | ||||
Increase | 31.4 | 57 | 125.3 | 116.5 |
Decrease | (21) | (8.3) | (34.5) | (13.8) |
Tax effect of intercompany financing | 38.5 | 41 | 76.7 | 81.5 |
Non-deductible or non-taxable foreign currency exchange results: | ||||
Decrease | (21.2) | (16.5) | (29.9) | (23.9) |
Increase | (67.3) | (1.5) | 2.2 | 0.6 |
Non-deductible or non-taxable interest and other expenses: | ||||
Decrease | (15.3) | (53.2) | (49) | (84.2) |
Increase | 12.1 | 16.1 | 23.3 | 31.1 |
Basis and other differences in the treatment of items associated with investments in subsidiaries and affiliates: | ||||
Decrease | (26.7) | 3.7 | (27.7) | (45.9) |
Increase | (2.7) | 3.8 | 11.8 | 4.3 |
Recognition of previously unrecognized tax benefits | 4.7 | 0 | 13.6 | 28.8 |
Tax benefit associated with technology innovation | 6.6 | 0 | 10.5 | 0 |
Other, net | (7.6) | 1.4 | (7.8) | 3.1 |
Total income tax benefit (expense) | $ (130) | $ 0.6 | $ (52.1) | $ 117.6 |
Equity (Details)
Equity (Details) - Jun. 30, 2015 - LGI Convertible Notes Debt [Member] - USD ($) $ / shares in Units, $ in Millions | Total |
Schedule of Capitalization, Equity [Line Items] | |
Total cost for stock purchased pursuant to repurchase programs | $ 935.8 |
Remaining amount authorized under the stock repurchase program | $ 3,002.8 |
Class C Ordinary Shares [Member] | |
Schedule of Capitalization, Equity [Line Items] | |
Shares purchased pursuant to repurchase programs (in shares) | 18,653,356 |
Average price paid per share pursuant to repurchase programs (in dollars per share) | $ 50.17 |
Share-based Compensation (Summa
Share-based Compensation (Summary of Stock-Based Compensation) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | $ 56.6 | $ 54.4 | $ 128 | $ 109.5 |
Operating expense | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | 1.4 | 3.6 | 2.1 | 4.9 |
SG&A expense | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | 55.2 | 50.8 | 125.9 | 104.6 |
Other Stock Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | 0.6 | 1.2 | 1.3 | 2.6 |
Liberty Global Group [Member] | Operating expense | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | 1.1 | 3.2 | 1.8 | 4 |
Liberty Global Group [Member] | SG&A expense | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | 53.9 | 49.3 | 125.7 | 101.4 |
LiLAC Group [Member] | Operating expense | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | 0.3 | 0.4 | 0.3 | 0.9 |
LiLAC Group [Member] | SG&A expense | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | 1.3 | 1.5 | 0.2 | 3.2 |
Parent Company [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | 53.6 | 45.4 | 121.1 | 96.2 |
Parent Company [Member] | PSUs / PGUs [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | 28.5 | 23.2 | 70.6 | 43.8 |
Parent Company [Member] | Other Share-Based Incentive Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | 25.1 | 22.2 | 50.5 | 52.4 |
Telenet [Member] | Stock Compensation Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | $ 2.4 | $ 7.8 | $ 5.6 | $ 10.7 |
Share-based Compensation (Narra
Share-based Compensation (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Mar. 31, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Reversal of share-based compensation expense | $ (56.6) | $ (54.4) | $ (128) | $ (109.5) | |
PSUs / PGUs [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Percent of PSUs granted are earned | 113.60% | ||||
SG&A expense | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Reversal of share-based compensation expense | (55.2) | (50.8) | (125.9) | (104.6) | |
LiLAC Group [Member] | SG&A expense | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Reversal of share-based compensation expense | $ (1.3) | $ (1.5) | (0.2) | $ (3.2) | |
LiLAC Group [Member] | SG&A expense | PSUs / PGUs [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Reversal of share-based compensation expense | $ 1.8 |
Share-based Compensation (Sum72
Share-based Compensation (Summary of Stock-Based Compensation Not Yet Recognized) (Details) - Jun. 30, 2015 - Parent Company [Member] - USD ($) $ in Millions | Total |
Stock Compensation Plan [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Total compensation expense not yet recognized | $ 212 |
Weighted average period remaining for expense recognition (in years) | 3 years 1 month 6 days |
PSUs / PGUs [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Total compensation expense not yet recognized | $ 148.7 |
Weighted average period remaining for expense recognition (in years) | 1 year 3 months 18 days |
Share-based Compensation (Sum73
Share-based Compensation (Summary of Stock Award Information) (Details) - USD ($) $ / shares in Units, $ in Millions | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Total intrinsic value of awards exercised (in millions): | ||
Cash received from exercise of options | $ 37 | $ 23.9 |
Income tax benefit related to stock-based compensation expense | $ 28 | $ 20.1 |
Employee Stock Option [Member] | ||
Weighted average grant-date fair value per share of awards granted: | ||
Weighted average grant-date fair value (in dollars per share) | $ 14.73 | $ 11.40 |
Total intrinsic value of awards exercised (in millions): | ||
Total intrinsic value of awards exercised | $ 93.5 | $ 43.7 |
Stock Appreciation Rights (SARs) [Member] | ||
Weighted average grant-date fair value per share of awards granted: | ||
Weighted average grant-date fair value (in dollars per share) | $ 10.78 | $ 8.95 |
Total intrinsic value of awards exercised (in millions): | ||
Total intrinsic value of awards exercised | $ 40.1 | $ 17.7 |
Performance Stock Appreciation Rights (PSARs) [Member] | ||
Weighted average grant-date fair value per share of awards granted: | ||
Weighted average grant-date fair value (in dollars per share) | $ 0 | $ 8.15 |
Total intrinsic value of awards exercised (in millions): | ||
Total intrinsic value of awards exercised | $ 0.2 | $ 0.2 |
Restricted Stock Units (RSUs) [Member] | ||
Weighted average grant-date fair value per share of awards granted: | ||
Weighted average grant-date fair value, other than options (in dollars per share) | $ 51.97 | $ 39.72 |
PSUs [Member] | ||
Weighted average grant-date fair value per share of awards granted: | ||
Weighted average grant-date fair value, other than options (in dollars per share) | 51.69 | 40.41 |
PGUs [Member] | ||
Weighted average grant-date fair value per share of awards granted: | ||
Weighted average grant-date fair value, other than options (in dollars per share) | $ 0 | $ 44.04 |
Minimum [Member] | ||
Assumptions used to estimate fair value of options, share appreciation rights (SARs) and PSARs granted: | ||
Risk-free interest rate | 0.96% | 0.81% |
Expected life | 3 years | 3 years 1 month 6 days |
Expected volatility | 23.10% | 25.50% |
Maximum [Member] | ||
Assumptions used to estimate fair value of options, share appreciation rights (SARs) and PSARs granted: | ||
Risk-free interest rate | 1.89% | 1.77% |
Expected life | 5 years 6 months | 5 years 1 month 6 days |
Expected volatility | 30.10% | 28.70% |
Share-based Compensation (Sched
Share-based Compensation (Schedule of Stock Award Activity, Options, SARs & PSARs) (Details) - 6 months ended Jun. 30, 2015 - USD ($) $ / shares in Units, $ in Millions | Total |
Employee Stock Option [Member] | Class A Ordinary Shares [Member] | |
Number of shares | |
Options outstanding at beginning of period (in shares) | 1,726,259 |
Options granted (in shares) | 61,763 |
Options cancelled/forfeited (in shares) | (13,836) |
Options exercised (in shares) | (920,468) |
Options outstanding at end of period (in shares) | 853,718 |
Options exercisable at end of period (in shares) | 417,692 |
Weighted average exercise price | |
Options outstanding at beginning of period (in dollars per shares) | $ 18.01 |
Options granted (in dollars per shares) | 54.97 |
Options cancelled/forfeited (in dollars per share) | 23.59 |
Options exercised (in dollars per shares) | 14.03 |
Options outstanding at end of period (in dollars per shares) | 24.90 |
Options exercisable at end of period (in dollars per shares) | $ 18.05 |
Weighted average remaining contractual term, in years | |
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 | 5 years 7 months 6 days |
Options exercisable at end of period | 4 years 3 months 18 days |
Total intrinsic value of awards exercised (in millions): | |
Options outstanding at end of period | $ 25 |
Options exercisable at end of period | $ 15 |
Employee Stock Option [Member] | Class C Ordinary Shares [Member] | |
Number of shares | |
Options outstanding at beginning of period (in shares) | 3,946,192 |
Options granted (in shares) | 622,301 |
Options cancelled/forfeited (in shares) | (34,493) |
Options exercised (in shares) | (1,613,927) |
Options outstanding at end of period (in shares) | 2,920,073 |
Options exercisable at end of period (in shares) | 1,377,436 |
Weighted average exercise price | |
Options outstanding at beginning of period (in dollars per shares) | $ 17.67 |
Options granted (in dollars per shares) | 43.34 |
Options cancelled/forfeited (in dollars per share) | 22.23 |
Options exercised (in dollars per shares) | 14.99 |
Options outstanding at end of period (in dollars per shares) | 24.57 |
Options exercisable at end of period (in dollars per shares) | $ 15.25 |
Weighted average remaining contractual term, in years | |
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 | 6 years 1 month 6 days |
Options exercisable at end of period | 4 years 1 month 6 days |
Total intrinsic value of awards exercised (in millions): | |
Options outstanding at end of period | $ 76.3 |
Options exercisable at end of period | $ 48.7 |
Stock Appreciation Rights (SARs) [Member] | Class A Ordinary Shares [Member] | |
Number of shares | |
Options outstanding at beginning of period (in shares) | 5,607,988 |
Options granted (in shares) | 2,252,602 |
Options cancelled/forfeited (in shares) | (106,696) |
Options exercised (in shares) | (354,800) |
Options outstanding at end of period (in shares) | 7,399,094 |
Options exercisable at end of period (in shares) | 2,815,909 |
Weighted average exercise price | |
Options outstanding at beginning of period (in dollars per shares) | $ 31.07 |
Options granted (in dollars per shares) | 53.11 |
Options cancelled/forfeited (in dollars per share) | 37.27 |
Options exercised (in dollars per shares) | 25.68 |
Options outstanding at end of period (in dollars per shares) | 37.95 |
Options exercisable at end of period (in dollars per shares) | $ 25.41 |
Weighted average remaining contractual term, in years | |
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 | 5 years 1 month 6 days |
Options exercisable at end of period | 3 years 4 months 24 days |
Total intrinsic value of awards exercised (in millions): | |
Options outstanding at end of period | $ 119.3 |
Options exercisable at end of period | $ 80.7 |
Stock Appreciation Rights (SARs) [Member] | Class C Ordinary Shares [Member] | |
Number of shares | |
Options outstanding at beginning of period (in shares) | 14,689,045 |
Options granted (in shares) | 4,505,204 |
Options cancelled/forfeited (in shares) | (262,502) |
Options exercised (in shares) | (1,062,945) |
Options outstanding at end of period (in shares) | 17,868,802 |
Options exercisable at end of period (in shares) | 7,907,213 |
Weighted average exercise price | |
Options outstanding at beginning of period (in dollars per shares) | $ 28.49 |
Options granted (in dollars per shares) | 51.41 |
Options cancelled/forfeited (in dollars per share) | 34.80 |
Options exercised (in dollars per shares) | 23.48 |
Options outstanding at end of period (in dollars per shares) | 34.47 |
Options exercisable at end of period (in dollars per shares) | $ 23.75 |
Weighted average remaining contractual term, in years | |
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 | 4 years 9 months 18 days |
Options exercisable at end of period | 3 years 3 months 18 days |
Total intrinsic value of awards exercised (in millions): | |
Options outstanding at end of period | $ 292.2 |
Options exercisable at end of period | $ 212.5 |
Performance Stock Appreciation Rights (PSARs) [Member] | Class A Ordinary Shares [Member] | |
Number of shares | |
Options outstanding at beginning of period (in shares) | 2,788,749 |
Options cancelled/forfeited (in shares) | (35,625) |
Options exercised (in shares) | (4,166) |
Options outstanding at end of period (in shares) | 2,748,958 |
Options exercisable at end of period (in shares) | 7,708 |
Weighted average exercise price | |
Options outstanding at beginning of period (in dollars per shares) | $ 35.10 |
Options cancelled/forfeited (in dollars per share) | 35.03 |
Options exercised (in dollars per shares) | 35.03 |
Options outstanding at end of period (in dollars per shares) | 35.10 |
Options exercisable at end of period (in dollars per shares) | $ 35.03 |
Weighted average remaining contractual term, in years | |
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 | 5 years |
Options exercisable at end of period | 1 year 7 months 6 days |
Total intrinsic value of awards exercised (in millions): | |
Options outstanding at end of period | $ 52.1 |
Options exercisable at end of period | $ 0.1 |
Performance Stock Appreciation Rights (PSARs) [Member] | Class C Ordinary Shares [Member] | |
Number of shares | |
Options outstanding at beginning of period (in shares) | 8,366,248 |
Options cancelled/forfeited (in shares) | (106,875) |
Options exercised (in shares) | (12,499) |
Options outstanding at end of period (in shares) | 8,246,874 |
Options exercisable at end of period (in shares) | 23,124 |
Weighted average exercise price | |
Options outstanding at beginning of period (in dollars per shares) | $ 33.48 |
Options cancelled/forfeited (in dollars per share) | 33.41 |
Options exercised (in dollars per shares) | 33.41 |
Options outstanding at end of period (in dollars per shares) | 33.48 |
Options exercisable at end of period (in dollars per shares) | $ 33.41 |
Weighted average remaining contractual term, in years | |
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 | 5 years |
Options exercisable at end of period | 1 year 7 months 6 days |
Total intrinsic value of awards exercised (in millions): | |
Options outstanding at end of period | $ 141.4 |
Options exercisable at end of period | $ 0.4 |
Share-based Compensation (Other
Share-based Compensation (Other than Options Award Activity) (Details) - $ / shares | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Restricted Stock Units (RSUs) [Member] | ||
Weighted average grant-date fair value per share of awards granted: | ||
Granted (in dollars per shares) | $ 51.97 | $ 39.72 |
Restricted Stock Units (RSUs) [Member] | Class A Ordinary Shares [Member] | ||
Number of shares | ||
Outstanding at beginning of period (in shares) | 565,270 | |
Granted (in shares) | 298,713 | |
Forfeited (in shares) | (18,827) | |
Released from restrictions (in shares) | (299,372) | |
Outstanding at end of period (in shares) | 545,784 | |
Weighted average grant-date fair value per share of awards granted: | ||
Outstanding at beginning of period (in dollars per shares) | $ 38.27 | |
Granted (in dollars per shares) | 53.11 | |
Forfeited (in dollars per shares) | 37.52 | |
Released from restrictions (in dollars per shares) | 37.65 | |
Outstanding at end of period (in dollars per shares) | $ 46.76 | |
Weighted average remaining contractual term, in years | ||
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms | 3 years 3 months 18 days | |
Restricted Stock Units (RSUs) [Member] | Class C Ordinary Shares [Member] | ||
Number of shares | ||
Outstanding at beginning of period (in shares) | 1,387,003 | |
Granted (in shares) | 597,426 | |
Forfeited (in shares) | (45,611) | |
Released from restrictions (in shares) | (553,929) | |
Outstanding at end of period (in shares) | 1,384,889 | |
Weighted average grant-date fair value per share of awards granted: | ||
Outstanding at beginning of period (in dollars per shares) | $ 35.59 | |
Granted (in dollars per shares) | 51.40 | |
Forfeited (in dollars per shares) | 34.70 | |
Released from restrictions (in dollars per shares) | 34.55 | |
Outstanding at end of period (in dollars per shares) | $ 42.85 | |
Weighted average remaining contractual term, in years | ||
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms | 3 years 8 months 12 days | |
PSUs / PGUs [Member] | ||
Weighted average grant-date fair value per share of awards granted: | ||
Granted (in dollars per shares) | $ 51.69 | $ 40.41 |
PSUs / PGUs [Member] | Class A Ordinary Shares [Member] | ||
Number of shares | ||
Outstanding at beginning of period (in shares) | 1,989,693 | |
Granted (in shares) | 410,716 | |
Performance adjustment (in shares) | 50,410 | |
Forfeited (in shares) | (22,619) | |
Released from restrictions (in shares) | (543,707) | |
Outstanding at end of period (in shares) | 1,884,493 | |
Weighted average grant-date fair value per share of awards granted: | ||
Outstanding at beginning of period (in dollars per shares) | $ 41.34 | |
Granted (in dollars per shares) | 52.82 | |
Performance adjustment (in dollars per shares) | 37.31 | |
Forfeited (in dollars per shares) | 38.47 | |
Released from restrictions (in dollars per shares) | 41.12 | |
Outstanding at end of period (in dollars per shares) | $ 43.84 | |
Weighted average remaining contractual term, in years | ||
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms | 1 year 6 months | |
PSUs / PGUs [Member] | Class B Ordinary Shares [Member] | ||
Number of shares | ||
Outstanding at beginning of period (in shares) | 1,000,000 | |
Released from restrictions (in shares) | (333,333) | |
Outstanding at end of period (in shares) | 666,667 | |
Weighted average grant-date fair value per share of awards granted: | ||
Outstanding at beginning of period (in dollars per shares) | $ 44.55 | |
Released from restrictions (in dollars per shares) | 44.55 | |
Outstanding at end of period (in dollars per shares) | $ 44.55 | |
Weighted average remaining contractual term, in years | ||
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms | 1 year 8 months 12 days | |
PSUs / PGUs [Member] | Class C Ordinary Shares [Member] | ||
Number of shares | ||
Outstanding at beginning of period (in shares) | 2,442,767 | |
Granted (in shares) | 821,432 | |
Performance adjustment (in shares) | 147,179 | |
Forfeited (in shares) | (58,997) | |
Released from restrictions (in shares) | (614,341) | |
Outstanding at end of period (in shares) | 2,738,040 | |
Weighted average grant-date fair value per share of awards granted: | ||
Outstanding at beginning of period (in dollars per shares) | $ 36.71 | |
Granted (in dollars per shares) | 51.12 | |
Performance adjustment (in dollars per shares) | 34.80 | |
Forfeited (in dollars per shares) | 36.02 | |
Released from restrictions (in dollars per shares) | 34.80 | |
Outstanding at end of period (in dollars per shares) | $ 41.38 | |
Weighted average remaining contractual term, in years | ||
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms | 1 year 3 months 18 days |
Restructuring Liability (Detail
Restructuring Liability (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2015 | |
Restructuring Reserve [Roll Forward] | ||
Restructuring liability as of January 1, 2015 | $ 156.1 | |
Restructuring charges (credits) | 31.3 | |
Cash paid | (48.2) | |
Foreign currency translation adjustments and other | (4.8) | |
Restructuring liability as of June 30, 2015 | 134.4 | |
Current portion | $ 42.1 | |
Noncurrent portion | 92.3 | |
Total | 156.1 | 134.4 |
Employee severance and termination [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring liability as of January 1, 2015 | 27.6 | |
Restructuring charges (credits) | 26.7 | |
Cash paid | (30.7) | |
Foreign currency translation adjustments and other | 0.1 | |
Restructuring liability as of June 30, 2015 | 23.7 | |
Current portion | 23.6 | |
Noncurrent portion | 0.1 | |
Total | 27.6 | 23.7 |
Office closures [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring liability as of January 1, 2015 | 12.5 | |
Restructuring charges (credits) | (0.5) | |
Cash paid | (2.9) | |
Foreign currency translation adjustments and other | 2.2 | |
Restructuring liability as of June 30, 2015 | 11.3 | |
Current portion | 2.6 | |
Noncurrent portion | 8.7 | |
Total | 12.5 | 11.3 |
Contract termination and other [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring liability as of January 1, 2015 | 116 | |
Restructuring charges (credits) | 5.1 | |
Cash paid | (14.6) | |
Foreign currency translation adjustments and other | (7.1) | |
Restructuring liability as of June 30, 2015 | 99.4 | |
Current portion | 15.9 | |
Noncurrent portion | 83.5 | |
Total | 116 | $ 99.4 |
U.K. / Ireland [Member] | Employee severance and termination [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring charges (credits) | 12.4 | |
Switzerland / Austria [Member] | Employee severance and termination [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring charges (credits) | 8.2 | |
Puerto Rico [Member] | Employee severance and termination [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring charges (credits) | 2.4 | |
Netherlands [Member] | Employee severance and termination [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring charges (credits) | $ 2 |
Earnings or Loss per Ordinary77
Earnings or Loss per Ordinary Share (Narrative) (Details) - shares shares in Millions | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 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 | 42 | 43.5 |
PSUs and PGUs [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Aggregate number of shares excluded from computation of EPS | 5.3 | 6 |
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 Ordinary78
Earnings or Loss per Ordinary Share (Net Earnings (Loss) Attributable to Liberty Global Shareholders) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Amounts attributable to Liberty Global shareholders: | ||||
Earnings (loss) from discontinued operation | $ 0 | $ (7.2) | $ 0 | $ 333.5 |
Net loss attributable to Liberty Global shareholders | (464.7) | (249.9) | (1,002.2) | (328.7) |
Parent Company [Member] | ||||
Amounts attributable to Liberty Global shareholders: | ||||
Loss from continuing operations | (464.7) | (242.7) | (1,002.2) | (662.2) |
Earnings (loss) from discontinued operation | 0 | (7.2) | 0 | 333.5 |
Net loss attributable to Liberty Global shareholders | $ (464.7) | $ (249.9) | $ (1,002.2) | $ (328.7) |
Commitments and Contingencies79
Commitments and Contingencies (Unrecorded Purchase Obligation) (Details) $ in Millions | Jun. 30, 2015USD ($) |
Unrecorded Unconditional Purchase Obligation [Line Items] | |
Remainder of 2015 | $ 1,805.6 |
2,016 | 1,743.8 |
2,017 | 1,464.7 |
2,018 | 1,038.1 |
2,019 | 489.8 |
2,020 | 147 |
Thereafter | 1,230.9 |
Total | 7,919.9 |
Programming Commitments [Member] | |
Unrecorded Unconditional Purchase Obligation [Line Items] | |
Remainder of 2015 | 519.2 |
2,016 | 977.6 |
2,017 | 880.3 |
2,018 | 701.3 |
2,019 | 263.7 |
2,020 | 5.5 |
Thereafter | 2.4 |
Total | 3,350 |
Network and Connectivity Commitments [Member] | |
Unrecorded Unconditional Purchase Obligation [Line Items] | |
Remainder of 2015 | 190.7 |
2,016 | 265.6 |
2,017 | 239.3 |
2,018 | 124.5 |
2,019 | 86.9 |
2,020 | 62.8 |
Thereafter | 907 |
Total | 1,876.8 |
Purchase Commitments [Member] | |
Unrecorded Unconditional Purchase Obligation [Line Items] | |
Remainder of 2015 | 797 |
2,016 | 157.7 |
2,017 | 70.3 |
2,018 | 12.2 |
2,019 | 4.3 |
2,020 | 0 |
Thereafter | 0 |
Total | 1,041.5 |
Operating Leases [Member] | |
Unrecorded Unconditional Purchase Obligation [Line Items] | |
Remainder of 2015 | 88.8 |
2,016 | 152.5 |
2,017 | 128.3 |
2,018 | 110.3 |
2,019 | 89.8 |
2,020 | 56.3 |
Thereafter | 293.9 |
Total | 919.9 |
Other Commitments [Member] | |
Unrecorded Unconditional Purchase Obligation [Line Items] | |
Remainder of 2015 | 209.9 |
2,016 | 190.4 |
2,017 | 146.5 |
2,018 | 89.8 |
2,019 | 45.1 |
2,020 | 22.4 |
Thereafter | 27.6 |
Total | $ 731.7 |
Commitments and Contingencies80
Commitments and Contingencies (Narrative) (Details) € in Millions, £ in Millions, $ in Millions | Apr. 29, 2015EUR (€) | Apr. 29, 2015USD ($) | Jan. 17, 2013EUR (€) | Jan. 17, 2013USD ($) | Jan. 31, 2012competitor | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2012EUR (€) | Dec. 31, 2012USD ($) | Jun. 30, 2015GBP (£)country | Jun. 30, 2015EUR (€)country | Jun. 30, 2015USD ($)country | Feb. 28, 2015USD ($) | Dec. 31, 2014GBP (£) | Dec. 31, 2014USD ($) | Oct. 04, 2013 | Apr. 02, 2013 | Nov. 26, 2007association |
Interkabel Acquisition [Member] | |||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||
Number of associations of municipalities in Belgium | association | 4 | ||||||||||||||||||
Loss contingency damages in excess value | € 20 | $ 22.3 | |||||||||||||||||
Deutsche Telekom Litigation [Member] | |||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||
Damages sought | € 76 | $ 85 | |||||||||||||||||
Reduction of annual lease fees | 66.67% | 66.67% | |||||||||||||||||
Vivendi Litigation [Member] | |||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||
Subsidiary interest in recovery | 10.00% | 10.00% | |||||||||||||||||
Damages awarded | € 944 | $ 1,053 | |||||||||||||||||
Belgium Regulatory Developments [Member] | |||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||
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% | |||||||||||||||||
FCO Regulatory Issues [Member] | |||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||
Number of Competitors of German Cable Business | competitor | 2 | ||||||||||||||||||
Loss in period | € 183.5 | $ 204.7 | |||||||||||||||||
Financial Transactions Tax [Member] | |||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||
Number of Participating Countries in Financial Transaction Tax | country | 11 | 11 | 11 | ||||||||||||||||
Financial Transactions Tax [Member] | Minimum [Member] | |||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||
Financial Transactions Tax | 0.01% | 0.01% | 0.01% | ||||||||||||||||
Financial Transactions Tax [Member] | Maximum [Member] | |||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||
Financial Transactions Tax | 0.10% | 0.10% | 0.10% | ||||||||||||||||
Virgin Media VAT Matters [Member] | |||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||
Minimum range of possible loss | £ 43.3 | $ 68.1 | |||||||||||||||||
Virgin Media VAT Matters 2 [Member] | |||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||
Decrease in revenues | $ 24 | ||||||||||||||||||
Maximum possible loss | £ 65 | $ 102 | |||||||||||||||||
Loss contingency accrual | $ 0 | ||||||||||||||||||
Mobistar MVNO Agreement [Member] | Minimum [Member] | |||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||
Commitment term | 6 months | ||||||||||||||||||
Mobistar MVNO Agreement [Member] | Maximum [Member] | |||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||
Commitment term | 24 months | ||||||||||||||||||
Other Regulatory Issues [Member] | |||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||
Minimum range of possible loss | $ 3.5 | ||||||||||||||||||
Broadband Communications and DHT Operations [Member] | |||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||
Programming costs | $ 1,123.3 | $ 1,056.5 | |||||||||||||||||
Liberty Global Group [Member] | Broadband Communications and DHT Operations [Member] | |||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||
Programming costs | 1,001.6 | 938.9 | |||||||||||||||||
LiLAC Group [Member] | Broadband Communications and DHT Operations [Member] | |||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||
Programming costs | $ 121.7 | $ 117.6 |
Segment Reporting (Narrative) (
Segment Reporting (Narrative) (Details) | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Dec. 31, 2014segment | Jun. 30, 2015country | Dec. 31, 2013segment | |
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% | ||
European Operations Division U.K / Ireland [Member] | |||
Segment Reporting Information [Line Items] | |||
Number of reportable segments | 1 | ||
European Operations Division Switzerland / Austria [Member] | |||
Segment Reporting Information [Line Items] | |||
Number of reportable segments | 1 | ||
Other Western Europe [Member] | |||
Segment Reporting Information [Line Items] | |||
Number of reportable segments | 1 | ||
Total European Operations Division [Member] | |||
Segment Reporting Information [Line Items] | |||
Number of European countries in operating segment (in countries) | country | 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 ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Segment Reporting Information [Line Items] | ||||
Total | $ 4,566.5 | $ 4,602.2 | $ 9,083.4 | $ 9,135.9 |
Operating cash flow | 2,185 | 2,144.9 | 4,282.3 | 4,272.4 |
European Operations Division U.K / Ireland [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 1,759.6 | 1,896.7 | 3,471 | 3,744.2 |
Operating cash flow | 805.6 | 829.5 | 1,568.9 | 1,621.1 |
European Operations Division Netherlands [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 683.9 | 316.3 | 1,391.3 | 634.4 |
Operating cash flow | 371 | 185.1 | 738.9 | 368.4 |
European Operations Division Germany [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 591 | 688.8 | 1,188.9 | 1,384.7 |
Operating cash flow | 366.9 | 431 | 730.9 | 860 |
European Operations Division Belgium [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 500.3 | 582.4 | 1,003 | 1,156.6 |
Operating cash flow | 260.8 | 287.9 | 507.8 | 590 |
European Operations Division Switzerland / Austria [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 448.8 | 476.7 | 888.1 | 940.5 |
Operating cash flow | 259.7 | 277.4 | 508.5 | 541.8 |
European Operations Division Total Western Europe [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 3,983.6 | 3,960.9 | 7,942.3 | 7,860.4 |
Operating cash flow | 2,064 | 2,010.9 | 4,055 | 3,981.3 |
European Operations Division Central and Eastern Europe [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 267.2 | 324.5 | 535.4 | 648.4 |
Operating cash flow | 118.4 | 147.2 | 236.5 | 305.4 |
European Operations Division Central and Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | (1) | (1.2) | (3.8) | (2) |
Operating cash flow | (72.7) | (71.9) | (140.6) | (142.8) |
Total European Operations Division [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 4,249.8 | 4,284.2 | 8,473.9 | 8,506.8 |
Operating cash flow | 2,109.7 | 2,086.2 | 4,150.9 | 4,143.9 |
Corporate and Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 12.8 | 17.6 | 25.6 | 36 |
Operating cash flow | (52.3) | (59.6) | (104.4) | (105.1) |
Intergroup Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | (7.5) | (6) | (15.3) | (13.2) |
Operating cash flow | 0 | 0 | 0 | 4 |
Liberty Global Group [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 4,255.1 | 4,295.8 | 8,484.2 | 8,529.6 |
Operating cash flow | 2,057.4 | 2,026.6 | 4,046.5 | 4,042.8 |
LiLAC Group Chile [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 220.8 | 229.8 | 429.6 | 455.1 |
Operating cash flow | 87.6 | 85.8 | 163.6 | 168.5 |
LiLAC Group Puerto Rico [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 90.6 | 76.6 | 169.6 | 151.3 |
Operating cash flow | 40.8 | 33.4 | 74.3 | 62.7 |
LiLAC Division [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Operating cash flow | 128.4 | 119.2 | 237.9 | 231.2 |
LiLAC Group Corporate and Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Operating cash flow | (0.8) | (0.9) | (2.1) | (1.6) |
LiLAC Group [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 311.4 | 306.4 | 599.2 | 606.4 |
Operating cash flow | 127.6 | 118.3 | 235.8 | 229.6 |
Inter-group Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | $ 0 | $ 0 | $ 0 | $ (0.1) |
Segment Reporting (Reconciliati
Segment Reporting (Reconciliation of Operating Cash Flow to Earnings from Continuing Operations) (Schedule) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Segment Reporting, Measurement Disclosures [Abstract] | ||||
Total segment Adjusted OIBDA from continuing operations | $ 2,185 | $ 2,144.9 | $ 4,282.3 | $ 4,272.4 |
Share-based compensation | (56.6) | (54.4) | (128) | (109.5) |
Depreciation and amortization | (1,477.8) | (1,393.4) | (2,929.2) | (2,770.5) |
Impairment, restructuring and other operating items, net | (25.7) | (27.6) | (42.7) | (141.2) |
Operating income | 624.9 | 669.5 | 1,182.4 | 1,251.2 |
Interest expense | (600.8) | (641.8) | (1,216.7) | (1,295.3) |
Realized and unrealized losses on derivative instruments, net | (679.7) | (328.6) | (61.2) | (705.2) |
Foreign currency transaction gains (losses), net | 340.4 | (36.4) | (695.2) | (57.2) |
Realized and unrealized gains due to changes in fair values of certain investments, net | 110.8 | 157.4 | 262.2 | 97.2 |
Losses on debt modification and extinguishment, net | (73.8) | (53) | (348.3) | (73.9) |
Other income (expense), net | (1.7) | (1.7) | (2.7) | 11.6 |
Loss from continuing operations before income taxes | $ (279.9) | $ (234.6) | $ (879.5) | $ (771.6) |
Segment Reporting (Capital Expe
Segment Reporting (Capital Expenditures of Reportable Segments) (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | $ 1,965.5 | $ 1,881 |
Assets acquired under capital-related vendor financing arrangements | (675.9) | (401.8) |
Assets acquired under capital leases | (74.5) | (89.8) |
Changes in current liabilities related to capital expenditures | 47.3 | 12.6 |
Total capital expenditures | 1,262.4 | 1,402 |
European Operations Division U.K / Ireland [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 723.2 | 739.6 |
European Operations Division Netherlands [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 251.9 | 109.4 |
European Operations Division Germany [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 268.1 | 280.8 |
European Operations Division Belgium [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 139.9 | 211.7 |
European Operations Division Switzerland / Austria [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 139.3 | 158.7 |
European Operations Division Total Western Europe [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 1,522.4 | 1,500.2 |
European Operations Division Central and Eastern Europe [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 113.3 | 106.7 |
European Operations Division Central and Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 162.2 | 135.7 |
Total European Operations Division [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 1,797.9 | 1,742.6 |
Corporate and Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 41.7 | 3.9 |
Liberty Global Group [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 1,839.6 | 1,746.5 |
LiLAC Group Chile [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 89.6 | 101.3 |
LiLAC Group Puerto Rico [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 36.3 | 33.2 |
LiLAC Group [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | $ 125.9 | $ 134.5 |
Segment Reporting (Revenue by M
Segment Reporting (Revenue by Major Category) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Segment Reporting Information [Line Items] | ||||
Total | $ 4,566.5 | $ 4,602.2 | $ 9,083.4 | $ 9,135.9 |
Video [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 1,607.9 | 1,663.5 | 3,217.3 | 3,305 |
Broadband Internet [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 1,276.7 | 1,190.6 | 2,515.9 | 2,334.5 |
Telephony [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 801.4 | 833 | 1,601.1 | 1,659.4 |
Cable Subscription [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 3,686 | 3,687.1 | 7,334.3 | 7,298.9 |
Mobile [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 261.2 | 273.1 | 512.9 | 530.4 |
Total Subscription [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 3,947.2 | 3,960.2 | 7,847.2 | 7,829.3 |
Business to Business [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 380.5 | 372 | 754.4 | 739 |
Other Category [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 238.8 | 270 | 481.8 | 567.6 |
Mobile Interconnect [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 53.1 | 63 | 107.5 | 123.8 |
SOHO Cable Subscription [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | $ 71.9 | $ 55.2 | $ 138.5 | $ 107.2 |
Segment Reporting (Geographic S
Segment Reporting (Geographic Segments) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Segment Reporting Information [Line Items] | ||||
Total | $ 4,566.5 | $ 4,602.2 | $ 9,083.4 | $ 9,135.9 |
European Operations Division United Kingdom [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 1,662.4 | 1,774.6 | 3,274.4 | 3,502.5 |
European Operations Division Netherlands [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 683.9 | 316.3 | 1,391.3 | 634.4 |
European Operations Division Germany [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 591 | 688.8 | 1,188.9 | 1,384.7 |
European Operations Division Belgium [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 500.3 | 582.4 | 1,003 | 1,156.6 |
European Operations Division Switzerland [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 357.3 | 365.3 | 704.1 | 718.1 |
European Operations Division Poland [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 101.2 | 121.2 | 202.2 | 241.7 |
European Operations Division Ireland [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 97.2 | 122.1 | 196.6 | 241.7 |
European Operations Division Austria [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 91.5 | 111.4 | 184 | 222.4 |
European Operations Division Hungary [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 65.2 | 80.6 | 130.2 | 159.3 |
European Operations Division Czech Republic [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 43.8 | 57.5 | 88.2 | 116.3 |
European Operations Division Romania [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 38.7 | 43.5 | 77.6 | 87 |
European Operations Division Slovakia [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 14.8 | 19.6 | 30 | 38.8 |
European Operations Division Other Europe [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 2.5 | 0.9 | 3.4 | 3.3 |
Total European Operations Division [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 4,249.8 | 4,284.2 | 8,473.9 | 8,506.8 |
Other, Including Intersegment Eliminations | ||||
Segment Reporting Information [Line Items] | ||||
Total | 5.3 | 11.6 | 10.3 | 22.8 |
Liberty Global Group [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 4,255.1 | 4,295.8 | 8,484.2 | 8,529.6 |
LiLAC Group Chile [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 220.8 | 229.8 | 429.6 | 455.1 |
LiLAC Group Puerto Rico [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 90.6 | 76.6 | 169.6 | 151.3 |
LiLAC Group [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | 311.4 | 306.4 | 599.2 | 606.4 |
Inter-group Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total | $ 0 | $ 0 | $ 0 | $ (0.1) |
Subsequent Event (Details)
Subsequent Event (Details) - Jul. 24, 2015 - Subsequent Event [Member] € in Millions, $ in Millions | EUR (€) | USD ($) | USD ($) |
Telenet Finance VI Notes [Member] | Long-term Debt [Member] | |||
Subsequent Event [Line Items] | |||
Interest rate | 6.375% | 6.375% | |
Extinguishment of debt | € 500 | $ 557.7 | |
Long-term Debt [Member] | Telenet Finance VI Notes [Member] | |||
Subsequent Event [Line Items] | |||
Redemption price, general rate for an early redemption event | 100.00% | 100.00% | |
Additional basis points used to determine redemption premium | 50.00% | 50.00% | |
Redemption term | 12 months | 12 months | |
Redemption price | 103.00% | 103.00% | |
Redemption price, percentage in event that certain assets sold or specific control changed | 101.00% | 101.00% | |
Percentage of principal amount redeemed | 10.00% | 10.00% | |
Long-term Debt [Member] | Telenet Finance VI Notes [Member] | 2021 | |||
Subsequent Event [Line Items] | |||
Redemption price | 102.438% | 102.438% | |
Long-term Debt [Member] | Telenet Finance VI Notes [Member] | 2022 | |||
Subsequent Event [Line Items] | |||
Redemption price | 101.219% | 101.219% | |
Long-term Debt [Member] | Telenet Finance VI Notes [Member] | 2023 | |||
Subsequent Event [Line Items] | |||
Redemption price | 100.609% | 100.609% | |
Long-term Debt [Member] | Telenet Finance VI Notes [Member] | 2024 and thereafter | |||
Subsequent Event [Line Items] | |||
Redemption price | 100.00% | 100.00% | |
Telenet Finance VI [Member] | |||
Subsequent Event [Line Items] | |||
Ownership percentage of special purpose financing entity | 100.00% | 100.00% | |
Telenet Finance VI [Member] | Long-term Debt [Member] | Telenet Finance VI Notes [Member] | |||
Subsequent Event [Line Items] | |||
Principal amount of debt | € 530 | $ 591.1 | |
Interest rate | 4.875% | 4.875% | |
Issued at par percentage | 98.885% | 98.885% |