Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2016 | May. 04, 2016 | |
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 | Mar. 31, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Liberty Global Group [Member] | Class A Ordinary Shares [Member] | ||
Entity Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 253,233,390 | |
Liberty Global Group [Member] | Class B Ordinary Shares [Member] | ||
Entity Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 10,805,850 | |
Liberty Global Group [Member] | Class C Ordinary Shares [Member] | ||
Entity Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 577,324,169 | |
LiLAC Group [Member] | Class A Ordinary Shares [Member] | ||
Entity Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 12,657,509 | |
LiLAC Group [Member] | Class B Ordinary Shares [Member] | ||
Entity Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 540,089 | |
LiLAC Group [Member] | Class C Ordinary Shares [Member] | ||
Entity Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 30,795,947 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 980.5 | $ 982.1 |
Trade receivables, net | 1,493.8 | 1,467.7 |
Derivative instruments (note 4) | 515 | 421.9 |
Prepaid expenses | 264.8 | 144.2 |
Other current assets | 314.9 | 341.5 |
Total current assets | 3,569 | 3,357.4 |
Investments (including $2,348.0 million and $2,591.8 million, respectively, measured at fair value) | 2,583.9 | 2,839.6 |
Property and equipment, net (note 6) | 22,787.3 | 21,684 |
Goodwill (note 6) | 28,030.4 | 27,020.4 |
Intangible assets subject to amortization, net (note 6) | 7,369.7 | 7,092.5 |
Other assets, net (note 4) | 5,511.2 | 5,565.1 |
Total assets | 69,851.5 | 67,559 |
Current liabilities: | ||
Accounts payable | 971 | 1,050.1 |
Deferred revenue and advance payments from subscribers and others | 1,531.6 | 1,393.5 |
Current portion of debt and capital lease obligations (note 7) | 3,240.3 | 2,537.9 |
Derivative instruments (note 4) | 647.8 | 346.3 |
Accrued interest | 617.3 | 832.8 |
Accrued income taxes | 488.4 | 483.5 |
Accrued capital expenditures | 427.3 | 441.8 |
Other accrued and current liabilities (note 11) | 2,245.4 | 2,072 |
Total current liabilities | 10,169.1 | 9,157.9 |
Long-term debt and capital lease obligations (note 7) | 45,831.8 | 44,211.2 |
Other long-term liabilities (notes 4 and 11) | 4,272.6 | 4,015.6 |
Total liabilities | $ 60,273.5 | $ 57,384.7 |
Commitments and contingencies (notes 3, 4, 7, 8, 13 and 15) | ||
Liberty Global shareholders: | ||
Additional paid-in capital | $ 14,669.6 | $ 14,908.1 |
Accumulated deficit | (5,529.2) | (5,160.1) |
Accumulated other comprehensive earnings, net of taxes | 908.9 | 895.9 |
Treasury shares, at cost | (0.6) | (0.4) |
Total Liberty Global shareholders | 10,057.5 | 10,652.4 |
Noncontrolling interests | (479.5) | (478.1) |
Total equity | 9,578 | 10,174.3 |
Total liabilities and equity | 69,851.5 | 67,559 |
Liberty Global Group [Member] | ||
Current assets: | ||
Derivative instruments (note 4) | 507.7 | 405.9 |
Property and equipment, net (note 6) | 21,891.4 | 20,840.5 |
Goodwill (note 6) | 27,232.4 | 26,244.8 |
Intangible assets subject to amortization, net (note 6) | 7,256.1 | 6,975.1 |
Current liabilities: | ||
Derivative instruments (note 4) | 630.7 | 346.3 |
Liberty Global Group [Member] | Common Class A [Member] | ||
Liberty Global shareholders: | ||
Common stock | 2.5 | 2.5 |
Total equity | 2.5 | 2.5 |
Liberty Global Group [Member] | Common Class B [Member] | ||
Liberty Global shareholders: | ||
Common stock | 0.1 | 0.1 |
Total equity | 0.1 | 0.1 |
Liberty Global Group [Member] | Common Class C [Member] | ||
Liberty Global shareholders: | ||
Common stock | 5.8 | 5.9 |
Total equity | 5.8 | 5.9 |
LiLAC Group [Member] | ||
Current assets: | ||
Derivative instruments (note 4) | 7.3 | 16 |
Property and equipment, net (note 6) | 895.9 | 843.5 |
Goodwill (note 6) | 798 | 775.6 |
Intangible assets subject to amortization, net (note 6) | 113.6 | 117.4 |
Current liabilities: | ||
Derivative instruments (note 4) | 17.1 | 0 |
LiLAC Group [Member] | Common Class A [Member] | ||
Liberty Global shareholders: | ||
Common stock | 0.1 | 0.1 |
Total equity | 0.1 | 0.1 |
LiLAC Group [Member] | Common Class B [Member] | ||
Liberty Global shareholders: | ||
Common stock | 0 | 0 |
Total equity | 0 | 0 |
LiLAC Group [Member] | Common Class C [Member] | ||
Liberty Global shareholders: | ||
Common stock | 0.3 | 0.3 |
Total equity | $ 0.3 | $ 0.3 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Investments, fair value | $ 2,348 | $ 2,591.8 |
Liberty Global Group [Member] | Common Class A [Member] | ||
Common stock, nominal value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, issued (in shares) | 252,932,261 | 252,766,455 |
Common stock, outstanding (in shares) | 252,932,261 | 252,766,455 |
Liberty Global Group [Member] | Common Class B [Member] | ||
Common stock, nominal value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, issued (in shares) | 10,805,850 | 10,472,517 |
Common stock, outstanding (in shares) | 10,805,850 | 10,472,517 |
Liberty Global Group [Member] | Common Class C [Member] | ||
Common stock, nominal value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, issued (in shares) | 576,766,400 | 584,044,394 |
Common stock, outstanding (in shares) | 576,766,400 | 584,044,394 |
LiLAC Group [Member] | Common Class A [Member] | ||
Common stock, nominal value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, issued (in shares) | 12,649,810 | 12,630,580 |
Common stock, outstanding (in shares) | 12,649,810 | 12,630,580 |
LiLAC Group [Member] | Common Class B [Member] | ||
Common stock, nominal value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, issued (in shares) | 540,089 | 523,423 |
Common stock, outstanding (in shares) | 540,089 | 523,423 |
LiLAC Group [Member] | Common Class C [Member] | ||
Common stock, nominal value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, issued (in shares) | 30,780,040 | 30,772,874 |
Common stock, outstanding (in shares) | 30,780,040 | 30,772,874 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Revenue (note 14) | $ 4,588 | $ 4,516.9 |
Operating costs and expenses: | ||
Operating (other than depreciation and amortization) (including share-based compensation) (note 10) | 1,725.1 | 1,688.5 |
Selling, general and administrative (SG&A) (including share-based compensation) (note 10) | 816.4 | 802.5 |
Depreciation and amortization | 1,435.5 | 1,451.4 |
Impairment, restructuring and other operating items, net (note 11) | 24.4 | 17 |
Operating costs and expenses, Total | 4,001.4 | 3,959.4 |
Operating income | 586.6 | 557.5 |
Non-operating income (expense): | ||
Interest expense | (619.3) | (615.9) |
Realized and unrealized gains (losses) on derivative instruments, net (note 4) | (508.7) | 618.5 |
Foreign currency transaction gains (losses), net | 339 | (1,035.6) |
Realized and unrealized gains (losses) due to changes in fair values of certain investments, net (note 5) | (268.2) | 151.4 |
Losses on debt modification and extinguishment, net (note 7) | (4.3) | (274.5) |
Other income (expense), net (note 13) | 53.3 | (1) |
Non-operating income (expense), Total | (1,008.2) | (1,157.1) |
Loss before income taxes | (421.6) | (599.6) |
Income tax benefit (note 8) | 48.9 | 77.9 |
Net loss | (372.7) | (521.7) |
Net loss (earnings) attributable to noncontrolling interests | 3.6 | (15.8) |
Net loss attributable to Liberty Global shareholders | (369.1) | (537.5) |
Liberty Global Group [Member] | ||
Revenue (note 14) | 4,284.1 | 4,229.1 |
Non-operating income (expense): | ||
Net loss attributable to Liberty Global shareholders | $ (330.6) | 0 |
Basic and diluted loss attributable to Liberty Global shareholders per share (notes 1 and 12): | ||
Basic and diluted earnings (loss) attributable to Liberty Global shareholders per share (in dollars per share) | $ (0.39) | |
Weighted average ordinary shares outstanding basic and diluted (in shares) | 843,492,613 | |
LiLAC Group [Member] | ||
Revenue (note 14) | $ 303.9 | 287.8 |
Non-operating income (expense): | ||
Net loss attributable to Liberty Global shareholders | $ (38.5) | 0 |
Basic and diluted loss attributable to Liberty Global shareholders per share (notes 1 and 12): | ||
Basic and diluted earnings (loss) attributable to Liberty Global shareholders per share (in dollars per share) | $ (0.88) | |
Weighted average ordinary shares outstanding basic and diluted (in shares) | 43,933,746 | |
Old Liberty Global [Member] | ||
Non-operating income (expense): | ||
Net loss attributable to Liberty Global shareholders | $ 0 | $ (537.5) |
Basic and diluted loss attributable to Liberty Global shareholders per share (notes 1 and 12): | ||
Basic and diluted earnings (loss) attributable to Liberty Global shareholders per share (in dollars per share) | $ (0.61) | |
Weighted average ordinary shares outstanding basic and diluted (in shares) | 887,264,545 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Statement of Comprehensive Income [Abstract] | ||
Net loss | $ (372.7) | $ (521.7) |
Other comprehensive earnings (loss), net of taxes: | ||
Foreign currency translation adjustments | 16.6 | (691.1) |
Reclassification adjustments included in net loss | (0.7) | 0.1 |
Other | (2.9) | (1.5) |
Other comprehensive earnings (loss) | 13 | (692.5) |
Comprehensive loss | (359.7) | (1,214.2) |
Comprehensive loss (earnings) attributable to noncontrolling interests | 3.6 | (15.9) |
Comprehensive loss attributable to Liberty Global shareholders | $ (356.1) | $ (1,230.1) |
Condensed Consolidated Stateme6
Condensed Consolidated Statement of Equity - 3 months ended Mar. 31, 2016 - 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 | Liberty Global Group [Member]Common stock | LiLAC Group [Member]Common stock |
Beginning balance at Dec. 31, 2015 | $ 10,174.3 | $ 14,908.1 | $ (5,160.1) | $ 895.9 | $ (0.4) | $ 10,652.4 | $ (478.1) | $ 8.5 | $ 0.4 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net loss | (372.7) | (369.1) | (369.1) | (3.6) | |||||
Other comprehensive earnings, net of taxes | 13 | 13 | 13 | 0 | |||||
Repurchase and cancellation of Liberty Global ordinary shares (note 9) | (286.4) | (286.4) | |||||||
Share-based compensation (note 10) | 65.6 | 65.6 | 65.6 | ||||||
Adjustments due to changes in subsidiaries’ equity and other, net | (15.8) | (17.7) | (0.2) | (18) | 2.2 | (0.1) | |||
Ending balance at Mar. 31, 2016 | $ 9,578 | $ 14,669.6 | $ (5,529.2) | $ 908.9 | $ (0.6) | $ 10,057.5 | $ (479.5) | $ 8.4 | $ 0.4 |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Cash flows from operating activities: | ||
Net loss | $ (372.7) | $ (521.7) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
Share-based compensation expense | 69 | 71.4 |
Depreciation and amortization | 1,435.5 | 1,451.4 |
Impairment, restructuring and other operating items, net | 24.4 | 17 |
Amortization of deferred financing costs and non-cash interest accretion | 20 | 18.5 |
Realized and unrealized losses (gains) on derivative instruments, net | 508.7 | (618.5) |
Foreign currency transaction losses (gains), net | (339) | 1,035.6 |
Realized and unrealized losses (gains) due to changes in fair values of certain investments, net | 268.2 | (151.4) |
Losses on debt modification and extinguishment, net | 4.3 | 274.5 |
Deferred income tax benefit | (118.5) | (187.2) |
Excess tax benefit from share-based compensation | (1.8) | (20) |
Changes in operating assets and liabilities, net of the effects of acquisitions and dispositions | (409.2) | 4.3 |
Net cash provided by operating activities | 1,088.9 | 1,373.9 |
Cash flows from investing activities: | ||
Cash paid in connection with acquisitions, net of cash acquired | (1,341.2) | (3.3) |
Capital expenditures | (637.1) | (661.2) |
Investments in and loans to affiliates and others | (26.3) | (122.7) |
Other investing activities, net | 77.1 | 12.2 |
Net cash used by investing activities | (1,927.5) | (775) |
Cash flows from financing activities: | ||
Borrowings of debt | 2,642 | 6,695.2 |
Repayments and repurchases of debt and capital lease obligations | (1,593.6) | (6,543) |
Repurchase of Liberty Global ordinary shares | (191.6) | (425.9) |
Change in cash collateral | 117.7 | 61.8 |
Net cash paid associated with call option contracts on Liberty Global ordinary shares | (97.8) | (122.9) |
Net cash paid related to derivative instruments | (32) | (486.5) |
Payment of financing costs and debt premiums | (27.6) | (269.8) |
Other financing activities, net | (34.3) | (19.5) |
Net cash provided (used) by financing activities | 782.8 | (1,110.6) |
Effect of exchange rate changes on cash | 54.2 | (16.4) |
Net decrease in cash and cash equivalents | (1.6) | (528.1) |
Cash and cash equivalents: | ||
Beginning of period | 982.1 | 1,158.5 |
End of period | 980.5 | 630.4 |
Cash paid for interest | 819.6 | 672.4 |
Net cash paid for taxes | $ 115.1 | $ 123 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation Liberty Global plc ( Liberty Global ) is a public limited company organized under the laws of England and Wales. In these notes, the terms “we,” “our,” “our company” and “us” may refer, as the context requires, to Liberty Global or collectively to Liberty Global and its subsidiaries. We are an international provider of video, broadband internet, fixed-line telephony and mobile services, with consolidated operations at March 31, 2016 in 14 countries. Through our wholly-owned subsidiary Virgin Media Inc. ( Virgin Media ), we provide video, broadband internet, fixed-line telephony and mobile services in the United Kingdom ( U.K. ) and Ireland. Through Ziggo Group Holding B.V. ( Ziggo Group Holding ) and Unitymedia GmbH ( Unitymedia ), each a wholly-owned subsidiary, and Telenet Group Holding N.V. ( Telenet ), a 57.1% -owned subsidiary, we provide video, broadband internet, fixed-line telephony and mobile services in the Netherlands, Germany and Belgium, respectively. Through our wholly-owned subsidiary UPC Holding B.V. ( UPC Holding ), we provide (i) video, broadband internet and fixed-line telephony services in seven other European countries and (ii) mobile services in four other European countries. The operations of Virgin Media , Ziggo Group Holding , Unitymedia , Telenet and UPC Holding are collectively referred to herein as the “ European Operations Division .” In Chile, we provide video, broadband internet, fixed-line telephony and mobile services through our wholly-owned subsidiary VTR.com SpA ( VTR ), the successor to VTR GlobalCom SpA. 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 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 into corresponding classes of new Liberty Global ordinary shares (collectively, the Liberty Global 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 Class A, Class B and Class C ordinary shares (collectively, the LiLAC Shares ). In these notes, the term “ Old Liberty Global Shares ” refers to our previously-outstanding Class A, Class B and Class C Liberty Global ordinary shares. The impact of the LiLAC Transaction on our capitalization and earnings or loss per share presentation has been reflected in these condensed consolidated financial statements prospectively from July 1, 2015. Accordingly, (a) our net loss attributed to Liberty Global Shares and LiLAC Shares relates to the three months ended March 31, 2016 and (b) our net loss attributed to Old Liberty Global Shares relates to the three months ended March 31, 2015. The Liberty Global Shares and the LiLAC 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 Shares and the LiLAC Shares are intended to 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 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 are 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 Shares , LiLAC 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 Shares and LiLAC 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 B.V., which is the parent entity of VTR Finance , (iii) LiLAC Holdings Inc. ( LiLAC Holdings ) and its subsidiaries, which include Liberty Puerto Rico , (iv) LGE Coral Holdco Limited ( LGE Coral ) and its subsidiary, which were formed in anticipation of the acquisition of CWC (as defined and described in note 3 ), and (v) prior to July 1, 2015, 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 ). Effective July 1, 2015, these corporate employees were transferred to LiLAC Holdings . 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. For additional information regarding our tracking share capital structure, including unaudited attributed 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 2015 consolidated financial statements and notes thereto included in our 2015 Annual Report on Form 10-K. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Estimates and assumptions are used in accounting for, among other things, the valuation of acquisition-related assets and liabilities, allowances for uncollectible accounts, programming and copyright costs, deferred income taxes and related valuation allowances, loss contingencies, fair value measurements, impairment assessments, capitalization of internal costs associated with construction and installation activities, useful lives of long-lived assets, share-based compensation and actuarial liabilities associated with certain benefit plans. Actual results could differ from those estimates. Unless otherwise indicated, ownership percentages and convenience translations into United States ( U.S. ) dollars are calculated as of March 31, 2016 . Certain prior period amounts, including deferred financing costs, have been reclassified to conform to the current period presentation. For additional information regarding the change in the classification of deferred financing costs, see note 2 . |
Accounting Changes and Recent A
Accounting Changes and Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2016 | |
Accounting Changes and Error Corrections [Abstract] | |
Accounting Changes and Recent Accounting Pronouncements | Accounting Changes and Recent Accounting Pronouncements Accounting Changes In April 2015, the Financial Accounting Standards Board ( FASB ) issued Accounting Standards Update ( ASU ) No. 2015-03, Simplifying the Presentation of Debt Issuance Costs ( ASU 2015-03 ), which requires debt issuance costs related to a recognized debt liability to be presented on the balance sheet as a direct deduction from the debt liability, similar to the presentation of debt discounts. For public entities, ASU 2015-03 is effective for annual reporting periods beginning after December 15, 2015. We adopted ASU 2015-03 on January 1, 2016 and, accordingly, deferred financing costs are presented as a reduction of debt in our March 31, 2016 and December 31, 2015 condensed consolidated balance sheets. Prior to the adoption of ASU 2015-03 , we presented deferred financing costs in other assets, net. Recent Accounting Pronouncements In May 2014, the FASB issued ASU 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 , as amended by ASU No. 2015-14, will replace existing revenue recognition guidance when it becomes effective for annual and interim reporting periods beginning after December 15, 2017. Early application is permitted for annual and interim reporting periods that begin after December 15, 2016. This new standard permits the use of either the retrospective or cumulative effect transition method. We will adopt ASU 2014-09 effective January 1, 2018, and 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. In February 2016, the FASB issued ASU No. 2016-02, Leases ( ASU 2016-02 ), which, for most leases, will result in lessees recognizing lease assets and lease liabilities on the balance sheet with additional disclosures about leasing arrangements. ASU 2016-02 requires lessees and lessors to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The modified retrospective approach also includes a number of optional practical expedients an entity may elect to apply. ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018, with early adoption permitted. We are currently evaluating the effect that ASU 2016-02 will have on our consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU No. 2016-09, Compensation — Stock Compensation, Improvements to Employee Share-Based Payment Accounting ( ASU 2016-09 ), which simplifies several aspects of the accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities and classification within the statement of cash flows. ASU 2016-09 is effective for annual reporting periods beginning after December 15, 2016, with early adoption permitted. We are currently evaluating the effect that ASU 2016-09 will have on our consolidated financial statements and related disclosures. |
Acquisition and Joint Venture T
Acquisition and Joint Venture Transactions | 3 Months Ended |
Mar. 31, 2016 | |
Business Combinations [Abstract] | |
Acquisition and Joint Venture Transactions | Acquisition and Joint Venture Transactions Pending Joint Venture Transaction On February 15, 2016, we and Liberty Global Europe Holding B.V., our wholly-owned subsidiary, entered into a Contribution and Transfer Agreement (the Contribution Agreement ) with Vodafone Group plc ( Vodafone ) and one of its wholly-owned subsidiaries. Pursuant to the Contribution Agreement , our company and Vodafone agreed to form a 50 :50 joint venture (the Dutch JV ), which will combine Ziggo Group Holding and our Sport1 premium sports channel with Vodafone ’s mobile businesses in the Netherlands ( Vodafone NL ) to create a national unified communications provider in the Netherlands with complementary strengths across video, broadband, mobile and business-to-business ( B2B ) services. At the closing of the transaction contemplated by the Contribution Agreement , Vodafone will pay to our company an equalization payment equal to approximately €1.0 billion ( $1.1 billion ), as adjusted for the net debt of Ziggo Group Holding and Vodafone NL at the time of closing and certain working capital adjustments. Ziggo Group Holding will be contributed to the Dutch JV together with its outstanding third-party debt, while our Sport1 premium channel and Vodafone ’s business in the Netherlands will be contributed on a debt and cash free basis. The parties expect to raise additional debt financing at the Dutch JV to increase the Dutch JV ’s net leverage ratio to a level that ranges between 4.5 and 5 times EBITDA (as calculated pursuant to Ziggo Group Holding ’s existing financing arrangements) and to make a pro rata distribution of the net proceeds from the additional debt to our company and Vodafone . The Dutch JV will be required to make regular cash distributions to the shareholders on a pro rata basis equal to the unrestricted cash held by the Dutch JV (subject to the Dutch JV maintaining a minimum amount of cash and complying with the terms of its financing arrangements). As an ongoing operation, it is intended that the Dutch JV will be funded solely from its net cash flow from operations and third-party financing. This transaction will not trigger any of Ziggo Group Holding ’s requirements under its debt agreements to redeem its outstanding debt pursuant to applicable change in control provisions. Following completion of the transaction, we expect to account for our 50% interest in the Dutch JV as an equity method investment, and we expect to attribute our 50% interest in the Dutch JV to the Liberty Global Group . The consummation of the transaction contemplated by the Contribution Agreement is subject to certain conditions, including competition clearance by the applicable regulatory authority in the European Union ( EU ). It is anticipated that the transaction will close around the end of 2016. The Contribution Agreement also includes customary termination rights, including a right of the parties to terminate the transaction if it has not closed by August 15, 2017. Pending Acquisition CWC . On November 16, 2015, we announced, pursuant to Rule 2.7 of the U.K. City Code on Takeovers and Mergers, the terms of a pending acquisition pursuant to which we would acquire Cable & Wireless Communications Plc ( CWC ) for shares of Liberty Global in a scheme of arrangement. Under the terms of the transaction, CWC shareholders will be entitled to receive up to, in the aggregate: 31,651,616 Class A Liberty Global Shares , 77,488,978 Class C Liberty Global Shares , 3,648,524 Class A LiLAC Shares and 8,939,328 Class C LiLAC Shares . Further, CWC shareholders will be entitled to receive a special dividend in the amount of £0.03 ( $0.04 ) per CWC share at the closing of the transaction, which will be in lieu of any previously-announced CWC dividend. We expect that the dividend and estimated fees and expenses will be funded from CWC liquidity, including incremental debt borrowings, and LiLAC Group liquidity. In April 2016, Liberty Global and CWC each received shareholder approval for the transaction, and the court hearing to sanction the scheme of arrangement is scheduled for May 11, 2016. Assuming the court sanctions the scheme of arrangement on May 11, 2016, we expect to complete the acquisition on May 16, 2016. Following completion of the acquisition of CWC , we intend to attribute CWC to the LiLAC Group , with the Liberty Global Group being granted an inter-group interest in the LiLAC Group . Based on the fully-diluted numbers of Liberty Global Shares , LiLAC Shares and CWC shares outstanding on November 16, 2015, after giving effect to the acquisition and such attribution, and treating the Liberty Global Group ’s inter-group interest in the LiLAC Group as being represented by additional LiLAC Shares , Liberty Global Group shareholders would have had an approximate 67.4% ownership interest in the LiLAC Group . 2016 Acquisition BASE Acquisition . On February 11, 2016 , pursuant to a definitive agreement and following regulatory approval, Telenet acquired BASE Company NV ( BASE ) for a cash purchase price of €1,321.9 million ( $1,497.7 million at the transaction date) (the BASE Acquisition ). BASE is the third-largest mobile network operator in Belgium. We expect that the BASE Acquisition will provide Telenet with cost-effective long-term mobile access to effectively compete for future growth opportunities in the Belgium mobile market. The BASE Acquisition was funded through a combination of €1.0 billion ( $1.1 billion at the transaction date) of new debt facilities and existing liquidity of Telenet . The acquisition was approved by the European Commission subject to Telenet ’s agreement to divest both the JIM Mobile prepaid customer base and BASE ’s 50% stake in Viking Co NV ( Viking ) to MEDIALAAN NV. In February 2016, Telenet completed the sale of its stake in Viking . The divestiture of the JIM Mobile prepaid customer base is expected to be phased over the 18-month period following the BASE Acquisition date. We have accounted for the BASE Acquisition using the acquisition method of accounting, whereby the total purchase price was allocated to the acquired identifiable net assets of BASE based on assessments of their respective fair values, and the excess of the purchase price over the fair values of these identifiable net assets was allocated to goodwill. The 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 mobile spectrum, customer relationships and trademarks and income taxes. A summary of the purchase price and the preliminary opening balance sheet for the BASE Acquisition at the February 11, 2016 acquisition date is presented in the following table (in millions): Cash and cash equivalents $ 160.1 Other current assets 170.3 Property and equipment, net 786.4 Goodwill (a) 353.5 Intangible assets subject to amortization, net: Mobile spectrum (b) 261.0 Customer relationships (c) 133.1 Trademarks (d) 40.7 Other assets, net 11.4 Other accrued and current liabilities (326.3 ) Other long-term liabilities (92.5 ) Total purchase price (e) $ 1,497.7 _______________ (a) The goodwill recognized in connection with the BASE Acquisition is primarily attributable to (i) the ability to take advantage of BASE ’s existing mobile network to gain immediate access to potential customers and (ii) synergies that are expected to be achieved through the integration of BASE with Telenet . (b) As of February 11, 2016 , the weighted average useful life of BASE ’s mobile spectrum was approximately 11 years . (c) As of February 11, 2016 , the weighted average useful life of BASE ’s customer relationships was approximately six years . (d) As of February 11, 2016 , the weighted average useful life of BASE ’s trademarks was approximately 20 years . (e) Excludes direct acquisition costs of $11.2 million , including $1.2 million incurred during the first quarter of 2016, which are included in impairment, restructuring and other operating items, net, in our consolidated statements of operations. 2015 Acquisition On June 3, 2015 , pursuant to a stock 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 Liberty Puerto Rico . The combined business is 60.0% -owned by our company and 40.0% -owned by Searchlight . The purchase price for Choice of $276.4 million was funded through (i) Liberty Puerto Rico ’s incremental debt borrowings, net of discount and fees, of $259.1 million , (ii) cash of $10.5 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 opening balance sheet for the Choice Acquisition at the June 3, 2015 acquisition date is presented in the following table. The opening balance sheet presented below reflects our final purchase price allocation (in millions): Cash and cash equivalents $ 3.6 Other current assets 7.8 Property and equipment, net 79.8 Goodwill (a) 51.6 Intangible assets subject to amortization, net (b) 59.1 Franchise rights 147.8 Other assets, net 0.3 Other accrued and current liabilities (13.2 ) Non-current deferred tax liabilities (60.4 ) Total purchase price (c) $ 276.4 _______________ (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) synergies that are expected to be achieved through the integration of Choice with Liberty Puerto Rico . (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 $8.5 million incurred through December 31, 2015, which were included in impairment, restructuring and other operating items, net, in our consolidated statement of operations for the year ended December 31, 2015. Pro Forma Information The following unaudited pro forma condensed consolidated operating results give effect to (i) the Choice Acquisition and (ii) the BASE Acquisition , as if they had been completed as of January 1, 2015. 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. In the following table, we present the revenue that is attributed to the Liberty Global Group and the LiLAC Group as if such revenue had been attributed to each group at the beginning of each period presented. However, our presentation of net loss and basic and diluted loss per share attributed to (a) Liberty Global Shares , (b) LiLAC Shares and (c) Old Liberty Global Shares only includes the results of operations for the periods during which these shares were outstanding. Accordingly, (1) our net loss attributed to Liberty Global Shares and LiLAC Shares relates to the period from January 1, 2016 through March 31, 2016 and (2) our net loss attributed to Old Liberty Global Shares relates to the period from January 1, 2015 through March 31, 2015. Three months ended March 31, 2016 2015 in millions, except per share amounts Revenue: Liberty Global Group $ 4,358.5 $ 4,398.7 LiLAC Group 303.9 309.9 Total $ 4,662.4 $ 4,708.6 Net loss attributable to Liberty Global shareholders: Liberty Global Shares $ (334.2 ) $ — LiLAC Shares (38.5 ) — Old Liberty Global Shares — (545.0 ) Total $ (372.7 ) $ (545.0 ) Basic and diluted loss attributable to Liberty Global shareholders per share: Liberty Global Shares $ (0.40 ) LiLAC Shares $ (0.88 ) Old Liberty Global Shares $ (0.61 ) Our condensed consolidated statement of operations for the three months ended March 31, 2016 includes revenue of $90.0 million (after intercompany eliminations) and net loss of $3.0 million attributable to BASE . |
Derivative Instruments
Derivative Instruments | 3 Months Ended |
Mar. 31, 2016 | |
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: March 31, 2016 December 31, 2015 Current Long-term (a) Total Current Long-term (a) Total in millions Assets: Cross-currency and interest rate derivative contracts: Liberty Global Group $ 306.1 $ 1,284.0 $ 1,590.1 $ 263.6 $ 1,518.5 $ 1,782.1 LiLAC Group 7.2 210.5 217.7 11.8 291.7 303.5 Total cross-currency and interest rate derivative contracts (b) 313.3 1,494.5 1,807.8 275.4 1,810.2 2,085.6 Equity-related derivative instruments – Liberty Global Group (c) 198.1 465.3 663.4 135.5 273.0 408.5 Foreign currency forward contracts: Liberty Global Group 1.9 — 1.9 6.2 — 6.2 LiLAC Group 0.1 — 0.1 4.2 — 4.2 Total foreign currency forward contracts 2.0 — 2.0 10.4 — 10.4 Other – Liberty Global Group 1.6 1.3 2.9 0.6 1.0 1.6 Total assets: Liberty Global Group 507.7 1,750.6 2,258.3 405.9 1,792.5 2,198.4 LiLAC Group 7.3 210.5 217.8 16.0 291.7 307.7 Total $ 515.0 $ 1,961.1 $ 2,476.1 $ 421.9 $ 2,084.2 $ 2,506.1 Liabilities: Cross-currency and interest rate derivative contracts: Liberty Global Group $ 587.8 $ 1,374.1 $ 1,961.9 $ 304.9 $ 1,194.7 $ 1,499.6 LiLAC Group 9.6 45.9 55.5 — 13.8 13.8 Total cross-currency and interest rate derivative contracts (b) 597.4 1,420.0 2,017.4 304.9 1,208.5 1,513.4 Equity-related derivative instruments – Liberty Global Group (c) 37.2 — 37.2 34.7 39.7 74.4 Foreign currency forward contracts: Liberty Global Group 4.7 0.2 4.9 1.1 — 1.1 LiLAC Group 7.5 0.1 7.6 — — — Total foreign currency forward contracts 12.2 0.3 12.5 1.1 — 1.1 Other – Liberty Global Group 1.0 0.7 1.7 5.6 0.1 5.7 Total liabilities: Liberty Global Group 630.7 1,375.0 2,005.7 346.3 1,234.5 1,580.8 LiLAC Group 17.1 46.0 63.1 — 13.8 13.8 Total $ 647.8 $ 1,421.0 $ 2,068.8 $ 346.3 $ 1,248.3 $ 1,594.6 _______________ (a) Our long-term derivative assets and liabilities are included in other assets, net, and other long-term liabilities, respectively, in our condensed consolidated balance sheets. (b) We consider credit risk in our fair value assessments. As of March 31, 2016 and December 31, 2015 , (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 $77.5 million and $64.0 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 $123.9 million and $86.5 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 $21.4 million and ( $16.9 million ) during the three months ended March 31, 2016 and 2015 , respectively. These amounts are included in realized and unrealized gains (losses) on derivative instruments, net, in our condensed consolidated statements of operations. For further information regarding our fair value measurements, see note 5 . (c) Our equity-related derivative instruments primarily include the fair value of (i) the share collar (the ITV Collar ) with respect to ITV plc ( ITV ) shares held by our company, (ii) the share collar (the Sumitomo Collar ) with respect to the shares of Sumitomo Corporation held by our company, (iii) the prepaid forward transaction (the Lionsgate Forward ) with respect to 2.5 million of the shares of Lions Gate Entertainment Corp ( Lionsgate ) held by our company and (iv) 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 the ITV Collar , the Sumitomo Collar and the Lionsgate Forward do not include credit risk valuation adjustments as we assume that any losses incurred by our company in the event of nonperformance by the respective counterparty would be, subject to relevant insolvency laws, fully offset against amounts we owe to such counterparty pursuant to the related secured borrowing arrangements. The details of our realized and unrealized gains (losses) on derivative instruments, net, are as follows: Three months ended March 31, 2016 2015 in millions Cross-currency and interest rate derivative contracts: Liberty Global Group $ (635.4 ) $ 662.3 LiLAC Group (137.6 ) 78.2 Total cross-currency and interest rate derivative contracts (773.0 ) 740.5 Equity-related derivative instruments – Liberty Global Group: ITV Collar 205.4 (105.4 ) Sumitomo Collar 68.7 (10.1 ) Lionsgate Forward 18.7 — Other 0.4 0.6 Total equity-related derivative instruments 293.2 (114.9 ) Foreign currency forward contracts: Liberty Global Group (21.7 ) (9.3 ) LiLAC Group (7.1 ) 1.2 Total foreign currency forward contracts (28.8 ) (8.1 ) Other – Liberty Global Group (0.1 ) 1.0 Total Liberty Global Group (364.0 ) 539.1 Total LiLAC Group (144.7 ) 79.4 Total $ (508.7 ) $ 618.5 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 net cash outflows is as follows: Three months ended March 31, 2016 2015 in millions Operating activities: Liberty Global Group $ 9.7 $ (118.7 ) LiLAC Group 7.5 (19.1 ) Total operating activities 17.2 (137.8 ) Investing activities (a) — 2.6 Financing activities (a) (32.0 ) (486.5 ) Total cash outflows: Liberty Global Group (22.3 ) (602.6 ) LiLAC Group 7.5 (19.1 ) Total $ (14.8 ) $ (621.7 ) _______________ (a) Amounts are attributed to the Liberty Global Group . Counterparty Credit Risk We are exposed to the risk that the counterparties to the derivative instruments of our subsidiary borrowing groups will default on their obligations to us. We manage these credit risks through the evaluation and monitoring of the creditworthiness of, and concentration of risk with, the respective counterparties. In this regard, credit risk associated with our derivative instruments is spread across a relatively broad counterparty base of banks and financial institutions. Collateral is generally not posted by either party under the derivative instruments of our subsidiary borrowing groups. At March 31, 2016 , our exposure to counterparty credit risk included derivative assets with an aggregate fair value of $1,661.5 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 with multiple derivative instruments that mature within the same calendar month, the notional amounts are shown in the aggregate, and interest rates are presented on a weighted average basis. In addition, for derivative instruments that were in effect as of March 31, 2016 , we present a single date that represents the applicable final maturity date. For derivative instruments that become effective subsequent to March 31, 2016 , we present a range of dates that represents the period covered by the applicable derivative instruments. Cross-currency and Interest Rate Derivative Contracts Cross-currency Swaps: The terms of our outstanding cross-currency swap contracts at March 31, 2016 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 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 $ 447.9 £ 276.7 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% 5.40% January 2022 - January 2025 $ 425.0 £ 255.8 3 mo. LIBOR 4.86% April 2019 $ 191.5 £ 122.3 5.38% 5.49% April 2023 (a) $ 180.0 £ 112.5 1.64% 1.78% February 2022 - April 2023 $ 175.0 £ 108.9 4.88% 5.19% October 2019 $ 100.0 £ 65.4 7.19% 7.23% February 2022 (a) $ 100.0 £ 62.2 0.50% 0.56% November 2016 (a) $ 55.0 £ 27.7 6.50% 7.03% October 2019 - October 2022 $ 50.0 £ 30.7 6.00% 5.75% UPC Broadband Holding B.V. ( 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% November 2019 $ 250.0 € 181.5 7.25% 7.74% November 2021 $ 250.0 € 181.4 7.25% 7.50% January 2020 $ 170.6 € 130.1 6 mo. LIBOR + 4.88% 7.49% October 2020 $ 125.0 € 91.3 6 mo. LIBOR + 3.00% 6 mo. EURIBOR + 3.04% January 2022 $ 81.9 € 62.4 6 mo. LIBOR + 5.04% 7.19% January 2020 $ 73.1 € 55.7 6 mo. LIBOR + 4.87% 6 mo. EURIBOR + 4.87% January 2022 $ 49.4 € 37.6 6 mo. LIBOR + 5.04% 6 mo. EURIBOR + 5.11% December 2016 $ 340.0 CHF 370.9 6 mo. LIBOR + 3.50% 6 mo. CHF LIBOR + 4.01% July 2016 (a) $ 225.0 CHF 206.3 6 mo. LIBOR + 4.81% 1.00% Subsidiary / F inal maturity date Notional amount due from counterparty Notional amount due to counterparty Interest rate due from counterparty Interest rate in millions July 2016 - January 2020 $ 225.0 CHF 206.3 6 mo. LIBOR + 4.81% 5.44% 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 2021 $ 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% 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% October 2016 € 285.1 CHF 346.7 10.51% (0.73)% October 2016 - January 2020 € 285.1 CHF 346.7 10.51% 9.42% 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% 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 2021 € 150.0 HUF 43,367.5 5.50% 3.75% 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% Amsterdamse Beheer-en Consultingmaatschappij B.V. ( ABC B.V. ), a subsidiary of Ziggo Group Holding: January 2022 $ 2,350.0 € 1,819.0 6 mo. LIBOR + 2.75% 4.56% Subsidiary / F inal maturity date Notional amount due from counterparty Notional amount due to counterparty Interest rate due from counterparty Interest rate in millions January 2023 $ 400.0 € 339.0 5.88% 4.58% Unitymedia Hessen GmbH & Co. KG ( Unitymedia Hessen ), a subsidiary of Unitymedia: January 2023 $ 2,450.0 € 1,799.0 5.62% 4.76% VTR: January 2022 $ 1,400.0 CLP 951,390.0 6.88% 6.36% _______________ (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 derivative instruments are interest payments and receipts. Interest Rate Swaps: The terms of our outstanding interest rate swap contracts at March 31, 2016 are as follows: Subsidiary / Final maturity date Notional amount Interest rate due from counterparty Interest rate due to (from) counterparty in millions VMIH: October 2018 £ 1,198.3 6 mo. GBP LIBOR 1.52% October 2018 - June 2023 £ 1,198.3 6 mo. GBP LIBOR 2.49% June 2023 £ 1,035.6 6 mo. GBP LIBOR + 0.53% 2.14% January 2021 £ 905.1 6 mo. GBP LIBOR + 0.71% 2.37% January 2021 £ 628.4 5.50% 6 mo. GBP LIBOR + 1.84% April 2023 £ 108.9 6.85% 6 mo. GBP LIBOR + 5.62% June 2022 £ 100.0 6 mo. GBP LIBOR 1.54% February 2022 £ 62.2 5.72% 6 mo. GBP LIBOR + 4.63% 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% January 2022 € 107.0 6 mo. EURIBOR 2.86% July 2016 - July 2020 € 43.4 6 mo. EURIBOR 3.95% July 2016 CHF 1,629.8 6 mo. CHF LIBOR (0.25)% July 2016 - September 2022 CHF 729.8 6 mo. CHF LIBOR 1.75% 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% Subsidiary / Final maturity date Notional amount Interest rate due from counterparty Interest rate due to (from) counterparty in millions June 2021 CHF 370.9 6 mo. CHF LIBOR (0.25)% November 2016 CHF 226.8 6 mo. CHF LIBOR (1.27)% November 2016 - November 2021 CHF 158.7 6 mo. CHF LIBOR + 5.01% 6.34% November 2016 - June 2021 CHF 68.0 6 mo. CHF LIBOR + 5.01% 6.34% ABC B.V.: January 2022 € 1,566.0 6 mo. EURIBOR 1.66% January 2017 € 689.0 1 mo. EURIBOR + 3.75% 6 mo. EURIBOR + 3.57% January 2021 € 500.0 6 mo. EURIBOR 2.61% July 2016 € 461.3 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 - January 2022 € 171.3 6 mo. EURIBOR 3.44% Telenet International Finance S.a.r.l ( Telenet International ), a subsidiary of Telenet: June 2023 € 1,300.0 3 mo. EURIBOR 0.33% July 2017 € 800.0 3 mo. EURIBOR (0.17)% 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% 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% LGE Coral: May 2016 - December 2022 $ 440.0 3 mo. LIBOR 1.77% August 2016 - December 2022 $ 360.0 3 mo. LIBOR 1.92% Interest Rate Caps Our purchased and sold interest rate cap contracts with respect to EURIBOR at March 31, 2016 are detailed below: Subsidiary / Final maturity date Notional amount EURIBOR cap rate in millions Interest rate caps purchased (a): Liberty Global Europe Financing B.V. ( LGE Financing ), the immediate parent of UPC Holding: January 2020 € 735.0 7.00% Telenet International: June 2017 € 50.0 4.50% Telenet N.V., a subsidiary of Telenet: December 2017 € 0.4 6.50% December 2017 € 0.4 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 the relevant EURIBOR exceeds the EURIBOR cap rate during the specified observation periods. (b) Our sold interest rate cap requires that we make payments to the counterparty when the relevant EURIBOR exceeds the EURIBOR cap rate during the specified observation periods. Interest Rate Collars Our interest rate collar contracts establish floor and cap rates with respect to EURIBOR on the indicated notional amounts at March 31, 2016 , as detailed below: Subsidiary / Final maturity date Notional amount EURIBOR floor rate (a) EURIBOR cap rate (b) in millions UPC Broadband Holding: July 2016 - January 2020 € 1,135.0 1.00% 3.54% _______________ (a) We make payments to the counterparty when the relevant EURIBOR is less than the EURIBOR floor rate during the specified observation periods. (b) We receive payments from the counterparty when the relevant EURIBOR is greater than the EURIBOR cap rate during the specified observation periods. Foreign Currency Forwards The following table summarizes our outstanding foreign currency forward contracts at March 31, 2016 : Subsidiary Currency purchased forward Currency sold forward Maturity dates in millions LGE Financing $ 443.6 € 391.1 April 2016 - December 2016 LGE Financing € 28.1 $ 32.5 April 2017 - March 2018 LGE Financing £ 9.8 $ 14.9 April 2016 - May 2016 LGE Financing £ 88.0 € 111.3 April 2016 UPC Broadband Holding $ 2.5 CZK 60.0 April 2016 - March 2017 UPC Broadband Holding € 64.9 CHF 70.5 April 2016 - March 2017 UPC Broadband Holding € 20.1 CZK 540.0 April 2016 - March 2017 UPC Broadband Holding € 18.9 HUF 6,000.0 April 2016 - March 2017 UPC Broadband Holding € 36.0 PLN 156.4 April 2016 - March 2017 UPC Broadband Holding € 11.2 RON 50.0 April 2016 UPC Broadband Holding £ 3.6 € 4.8 April 2016 - March 2017 UPC Broadband Holding CHF 30.0 € 27.4 April 2016 UPC Broadband Holding CZK 340.0 € 12.6 April 2016 UPC Broadband Holding HUF 2,200.0 € 7.0 April 2016 UPC Broadband Holding PLN 45.0 € 10.5 April 2016 Telenet N.V. $ 51.1 € 45.6 April 2016 - March 2017 VTR $ 161.2 CLP 114,681.8 April 2016 - April 2017 |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements We use the fair value method to account for (i) certain of our investments, (ii) our derivative instruments and (iii) certain instruments that we classify as debt. The reported fair values of these investments and instruments as of March 31, 2016 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 and debt 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 into or out of Levels 1, 2 or 3 at the beginning of the quarter during which the transfer occurred. During the three months ended March 31, 2016 , 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 , Sumitomo and Lionsgate , 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 derivative instruments 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 derivative instruments 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. At March 31, 2016 , the valuations of the ITV Collar , the Sumitomo Collar , the Virgin Media Capped Calls and the Lionsgate Forward were not significantly impacted by forecasted volatilities. In order to manage our interest rate and foreign currency exchange risk, we have entered into (i) various derivative instruments and (ii) certain instruments that we classify as debt, as further described in note 4 . The recurring fair value measurements of these 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 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 these instruments. As we would not expect changes in our or our counterparties’ credit spreads to have a significant impact on the valuations of these instruments, we have determined that these valuations fall under Level 2 of the fair value hierarchy. Our credit risk valuation adjustments with respect to our cross-currency and interest rate swaps are quantified and further explained in note 4 . Fair value measurements are also used in connection with nonrecurring valuations performed in connection with impairment assessments and acquisition accounting. These nonrecurring valuations include the valuation of reporting units, customer relationship intangible assets, property and equipment and the implied value of goodwill. The valuation of private reporting units is based at least in part on discounted cash flow analyses. With the exception of certain inputs for our weighted average cost of capital and discount rate calculations that are derived from pricing services, the inputs used in our discounted cash flow analyses, such as forecasts of future cash flows, are based on our assumptions. The valuation of customer relationships is primarily based on an excess earnings methodology, which is a form of a discounted cash flow analysis. The excess earnings methodology requires us to estimate the specific cash flows expected from the customer relationship, considering such factors as estimated customer life, the revenue expected to be generated over the life of the customer, contributory asset charges, and other factors. Tangible assets are typically valued using a replacement or reproduction cost approach, considering factors such as current prices of the same or similar equipment, the age of the equipment and economic obsolescence. The implied value of goodwill is determined by allocating the fair value of a reporting unit to all of the assets and liabilities of that unit as if the reporting unit had been acquired in a business combination, with the residual amount allocated to goodwill. All of our nonrecurring valuations use significant unobservable inputs and therefore fall under Level 3 of the fair value hierarchy. During the three months ended March 31, 2016 , we performed nonrecurring valuations for the purpose of determining the acquisition accounting for the BASE Acquisition . None of these valuations had a significant impact on our consolidated balance sheet. For additional information, see note 3 . A summary of our assets and liabilities that are measured at fair value on a recurring basis is as follows: Fair value measurements at March 31, 2016 using: Description March 31, 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 $ 1,807.8 $ — $ 1,807.8 $ — Equity-related derivative instruments 663.4 — — 663.4 Foreign currency forward contracts 2.0 — 2.0 — Other 2.9 — 2.9 — Total derivative instruments 2,476.1 — 1,812.7 663.4 Investments 2,348.0 1,946.8 — 401.2 Total assets $ 4,824.1 $ 1,946.8 $ 1,812.7 $ 1,064.6 Liabilities: Derivative instruments: Cross-currency and interest rate derivative contracts $ 2,017.4 $ — $ 2,017.4 $ — Equity-related derivative instruments 37.2 — — 37.2 Foreign currency forward contracts 12.5 — 12.5 — Other 1.7 — 1.7 — Total derivative liabilities 2,068.8 — 2,031.6 37.2 Debt 57.0 — 57.0 — Total liabilities $ 2,125.8 $ — $ 2,088.6 $ 37.2 Fair value measurements at December 31, 2015 using: Description December 31, 2015 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 $ 2,085.6 $ — $ 2,085.6 $ — Equity-related derivative instruments 408.5 — — 408.5 Foreign currency forward contracts 10.4 — 10.4 — Other 1.6 — 1.6 — Total derivative instruments 2,506.1 — 2,097.6 408.5 Investments 2,591.8 2,257.2 — 334.6 Total assets $ 5,097.9 $ 2,257.2 $ 2,097.6 $ 743.1 Liabilities - derivative instruments: Cross-currency and interest rate derivative contracts $ 1,513.4 $ — $ 1,513.4 $ — Equity-related derivative instruments 74.4 — — 74.4 Foreign currency forward contracts 1.1 — 1.1 — Other 5.7 — 5.7 — Total liabilities $ 1,594.6 $ — $ 1,520.2 $ 74.4 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, 2016 $ 334.6 $ 334.1 $ 668.7 Gains included in net loss (a): Realized and unrealized gains on derivative instruments, net — 293.2 293.2 Realized and unrealized gains due to changes in fair values of certain investments, net 42.3 — 42.3 Foreign currency translation adjustments and other, net 24.3 (1.1 ) 23.2 Balance of net assets at March 31, 2016 $ 401.2 $ 626.2 $ 1,027.4 _______________ (a) Most of these net gains relate to assets and liabilities that we continue to carry on our condensed consolidated balance sheet as of March 31, 2016 . |
Long-lived Assets
Long-lived Assets | 3 Months Ended |
Mar. 31, 2016 | |
Long lived Assets | |
Long-lived Assets | Long-lived Assets Property and Equipment, Net The details of our property and equipment and the related accumulated depreciation are set forth below: March 31, December 31, in millions Distribution systems: Liberty Global Group $ 25,748.8 $ 24,447.2 LiLAC Group 1,105.6 1,037.8 Total 26,854.4 25,485.0 Customer premises equipment: Liberty Global Group 5,967.9 5,651.1 LiLAC Group 870.4 801.4 Total 6,838.3 6,452.5 Support equipment, buildings and land: Liberty Global Group 4,811.3 4,461.4 LiLAC Group 369.4 341.0 Total 5,180.7 4,802.4 Total property and equipment, gross: Liberty Global Group 36,528.0 34,559.7 LiLAC Group 2,345.4 2,180.2 Total 38,873.4 36,739.9 Accumulated depreciation: Liberty Global Group (14,636.6 ) (13,719.2 ) LiLAC Group (1,449.5 ) (1,336.7 ) Total (16,086.1 ) (15,055.9 ) Total property and equipment, net: Liberty Global Group 21,891.4 20,840.5 LiLAC Group 895.9 843.5 Total $ 22,787.3 $ 21,684.0 During the three months ended March 31, 2016 and 2015 , we recorded non-cash increases to our property and equipment related to vendor financing arrangements of $438.9 million and $295.0 million , respectively, which exclude related value-added taxes ( VAT ) of $61.1 million and $35.0 million , respectively, that were also financed by our vendors under these arrangements. In addition, during the three months ended March 31, 2016 and 2015 , we recorded non-cash increases to our property and equipment related to assets acquired under capital leases of $27.9 million and $62.0 million , respectively. Goodwill Changes in the carrying amount of our goodwill during the three months ended March 31, 2016 are set forth below: January 1, 2016 Acquisitions and related adjustments Foreign currency translation adjustments and other March 31, in millions Liberty Global Group: European Operations Division: U.K./Ireland $ 8,790.7 $ 0.2 $ (184.5 ) $ 8,606.4 The Netherlands 7,851.3 — 372.2 8,223.5 Germany 3,104.4 — 147.1 3,251.5 Belgium 1,777.1 353.5 85.8 2,216.4 Switzerland/Austria 3,500.4 — 152.2 3,652.6 Total Western Europe 25,023.9 353.7 572.8 25,950.4 Central and Eastern Europe 1,186.9 0.1 61.0 1,248.0 Total European Operations Division 26,210.8 353.8 633.8 27,198.4 Corporate and other 34.0 — — 34.0 Total Liberty Global Group 26,244.8 353.8 633.8 27,232.4 LiLAC Group: LiLAC Division: Chile 377.0 — 22.4 399.4 Puerto Rico 277.7 — — 277.7 Total LiLAC Division 654.7 — 22.4 677.1 Corporate and other (a) 120.9 — — 120.9 Total LiLAC Group 775.6 — 22.4 798.0 Total $ 27,020.4 $ 353.8 $ 656.2 $ 28,030.4 _______________ (a) Represents enterprise-level goodwill that is allocated to our Puerto Rico segment for purposes of our impairment tests. If, among other factors, (i) our equity values were to decline significantly or (ii) the adverse impacts of economic, competitive, regulatory or other factors were to cause our results of operations or cash flows to be worse than anticipated, we could conclude in future periods that impairment charges are required in order to reduce the carrying values of our goodwill and, to a lesser extent, other long-lived assets. Any such impairment charges could be significant. Intangible Assets Subject to Amortization, Net The details of our intangible assets subject to amortization are set forth below: March 31, 2016 December 31, 2015 Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount in millions Customer relationships: Liberty Global Group $ 10,649.3 $ (3,791.1 ) $ 6,858.2 $ 10,285.3 $ (3,410.7 ) $ 6,874.6 LiLAC Group 149.0 (35.5 ) 113.5 149.0 (31.7 ) 117.3 Total 10,798.3 (3,826.6 ) 6,971.7 10,434.3 (3,442.4 ) 6,991.9 Other: Liberty Global Group 517.7 (119.8 ) 397.9 205.3 (104.8 ) 100.5 LiLAC Group 0.2 (0.1 ) 0.1 0.2 (0.1 ) 0.1 Total 517.9 (119.9 ) 398.0 205.5 (104.9 ) 100.6 Total intangible assets subject to amortization, net: Liberty Global Group 11,167.0 (3,910.9 ) 7,256.1 10,490.6 (3,515.5 ) 6,975.1 LiLAC Group 149.2 (35.6 ) 113.6 149.2 (31.8 ) 117.4 Total $ 11,316.2 $ (3,946.5 ) $ 7,369.7 $ 10,639.8 $ (3,547.3 ) $ 7,092.5 |
Debt and Capital Lease Obligati
Debt and Capital Lease Obligations | 3 Months Ended |
Mar. 31, 2016 | |
Debt and Capital Lease Obligations [Abstract] | |
Debt and Capital Lease Obligations | Debt and Capital Lease Obligations The U.S. dollar equivalents of the components of our consolidated third-party debt and capital lease obligations are as follows: March 31, 2016 Principal amount Weighted average interest rate (a) Unused borrowing capacity (b) Estimated fair value (c) Borrowing currency U.S. $ equivalent March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 in millions Liberty Global Group: VM Notes 5.61 % — $ — $ 10,621.4 $ 10,594.1 $ 10,445.0 $ 10,551.5 VM Credit Facility (d) 3.61 % (e) 431.0 3,820.4 3,413.7 3,876.0 3,471.1 Ziggo Credit Facilities (f) 3.64 % € 800.0 910.4 5,253.9 5,161.0 5,296.8 5,272.0 Ziggo SPE Notes 4.46 % — — 1,735.3 1,582.7 1,765.7 1,703.9 Ziggo Notes 6.82 % — — 1,008.2 955.1 927.3 885.4 Unitymedia Notes 4.99 % — — 8,026.6 7,631.6 7,812.2 7,682.0 Unitymedia Revolving Credit Facilities — € 500.0 569.0 — — — — UPCB SPE Notes 5.80 % — — 3,263.4 3,131.7 3,172.9 3,142.0 UPC Holding Senior Notes 6.59 % — — 1,681.5 1,601.4 1,560.0 1,491.1 UPC Broadband Holding Bank Facility 3.25 % € 990.1 1,126.8 1,297.0 1,284.3 1,305.0 1,305.0 Telenet SPE Notes 5.49 % — — 2,274.1 2,155.8 2,196.5 2,097.2 Telenet Credit Facility (g) 3.29 % € 164.0 186.6 2,875.2 1,443.0 2,929.5 1,474.5 Vendor financing (h) 3.28 % — — 1,690.6 1,688.9 1,690.6 1,688.9 ITV Collar Loan 1.35 % — — 1,528.6 1,547.9 1,558.0 1,594.7 Sumitomo Collar Loan 1.88 % — — 859.0 805.6 841.5 787.6 Other 7.44 % — — 394.8 395.0 357.9 291.8 Total Liberty Global Group 4.62 % 3,223.8 46,330.0 43,391.8 45,734.9 43,438.7 LiLAC Group: VTR Finance Senior Secured Notes 6.88 % — — 1,371.1 1,301.1 1,400.0 1,400.0 VTR Credit Facility — (i) 192.9 — — — — Liberty Puerto Rico Bank Facility 5.11 % $ 40.0 40.0 899.2 913.0 942.5 942.5 Total LiLAC Group 6.17 % 232.9 2,270.3 2,214.1 2,342.5 2,342.5 Total principal amount of debt before unamortized premiums, discounts and deferred financing costs 4.70 % $ 3,456.7 $ 48,600.3 $ 45,605.9 $ 48,077.4 $ 45,781.2 March 31, 2016 December 31, 2015 in millions Total principal amount of debt before unamortized premiums, discounts and deferred financing costs $ 48,077.4 $ 45,781.2 Unamortized premiums (discounts), net (37.9 ) (46.7 ) Unamortized deferred financing costs (331.6 ) (308.2 ) Total carrying amount of debt 47,707.9 45,426.3 Capital lease obligations (j) 1,364.2 1,322.8 Total debt and capital lease obligations 49,072.1 46,749.1 Current maturities of debt and capital lease obligations (3,240.3 ) (2,537.9 ) Long-term debt and capital lease obligations $ 45,831.8 $ 44,211.2 _______________ (a) Represents the weighted average interest rate in effect at March 31, 2016 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 4.8% (including 4.7% for the Liberty Global Group and 6.0% for the LiLAC Group ) at March 31, 2016 . For information regarding our derivative instruments, see note 4 . (b) Unused borrowing capacity represents the maximum availability under the applicable facility at March 31, 2016 without regard to covenant compliance calculations or other conditions precedent to borrowing. At March 31, 2016 , based on the applicable leverage covenants, the full amount of unused borrowing capacity was available to be borrowed under each of the respective subsidiary facilities, and there were no restrictions on the respective subsidiary's ability to make loans or distributions from this availability to other Liberty Global subsidiaries or Liberty Global , except as shown in the table below. In the following table, for each facility that is subject to limitations on borrowing availability, we present (i) the actual borrowing availability under the respective facility and (ii) for each subsidiary where the ability to make loans or distributions from this availability is limited, the amount that can be loaned or distributed to other Liberty Global subsidiaries or to Liberty Global . The amounts presented below assume no changes from March 31, 2016 borrowing levels and are based on the applicable covenant and other limitations in effect within each borrowing group at March 31, 2016 , both before and after considering the impact of the completion of the March 31, 2016 compliance requirements. Limitation on availability March 31, 2016 Upon completion of relevant March 31, 2016 compliance reporting requirements Borrowing currency U.S. $ equivalent Borrowing currency U.S. $ equivalent in millions Limitation on availability to be borrowed under: Ziggo Credit Facilities € 701.6 $ 798.5 € 438.1 $ 498.6 UPC Broadband Holding Bank Facility € 858.3 $ 976.8 € 685.3 $ 779.9 Limitation on availability to be loaned or distributed by: Ziggo Group Holding € 346.2 $ 394.0 € 95.2 $ 108.3 Unitymedia € 230.1 $ 261.9 € 222.3 $ 253.0 (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) On March 31, 2016, VMIH entered into (i) a €75.0 million ( $85.4 million ) term loan facility, which matures on January 15, 2022, bears interest at a rate of EURIBOR plus 3.0% and has a EURIBOR floor of 0.75% and (ii) a €25.0 million ( $28.5 million ) term loan facility, which matures on March 31, 2021, bears interest at a rate of EURIBOR plus 3.75% and has a EURIBOR floor of 0.0% . (e) Unused borrowing capacity under the VM Credit Facility relates to a multi-currency revolving facility (the VM Revolving Facility ) with maximum borrowing capacity equivalent to £675.0 million ( $971.6 million ). The outstanding balance at March 31, 2016 was €475.0 million ( $540.6 million ). (f) On March 31, 2016, certain subsidiaries of Ziggo Group Holding purchased from a third-party lender certain loans receivable aggregating €100.0 million ( $113.9 million ) that were owed by (i) another subsidiary of Ziggo Group Holding and (ii) Ziggo Secured Finance B.V. ( Ziggo Secured Finance ). Ziggo Secured Finance , which is 100% owned by a third-party, is a special purpose financing entity that was created for the primary purpose of offering certain senior secured debt. Ziggo Secured Finance is consolidated by Ziggo Group Holding and Liberty Global . (g) In connection with the closing of the BASE Acquisition , Telenet borrowed (i) the full €200.0 million ( $227.6 million ) amount under Telenet Facility Z, a revolving credit facility that bears interest at EURIBOR plus a margin of 2.25% , (ii) the full €800.0 million ( $910.4 million ) amount under Telenet Facility AA, a term loan facility that bears interest at EURIBOR plus a margin of 3.5% and (iii) €217.0 million ( $247.0 million ) under Telenet Facility X, a revolving credit facility that bears interest at EURIBOR plus a margin of 2.75% . For information concerning the BASE Acquisition , see note 3 . (h) Represents amounts owed pursuant to interest-bearing vendor financing arrangements that are used to finance certain of our property and equipment additions, and to a lesser extent, certain of our operating expenses. These obligations are generally due within one year . At March 31, 2016 and December 31, 2015 , the amounts owed pursuant to these arrangements include $191.3 million and $189.0 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. (i) The VTR Credit Facility is the senior secured credit facility of VTR and certain of its subsidiaries and comprises a $160.0 million U.S. dollar facility (the VTR Dollar Credit Facility ) and a CLP 22.0 billion ( $32.9 million ) Chilean peso facility (the VTR Peso Credit Facility ), each of which were undrawn at March 31, 2016 . (j) The U.S. dollar equivalents of our consolidated capital lease obligations are as follows: March 31, 2016 December 31, 2015 in millions Liberty Global Group: Unitymedia $ 729.8 $ 703.1 Telenet 394.6 371.1 Virgin Media 147.4 159.5 Other subsidiaries 91.7 88.2 Total Liberty Global Group capital lease obligations 1,363.5 1,321.9 LiLAC Group: Liberty Puerto Rico 0.5 0.6 VTR 0.2 0.3 Total LiLAC Group capital lease obligations 0.7 0.9 Total capital lease obligations $ 1,364.2 $ 1,322.8 Unitymedia Notes On December 23, 2015, Unitymedia Hessen and Unitymedia NRW GmbH, each a subsidiary of Unitymedia , issued €420.0 million ( $478.0 million ) of 4.625% senior secured notes due February 15, 2026 (the 2026 UM Senior Secured Notes ). A portion of the net proceeds from the 2026 UM Senior Secured Notes , which were held in escrow at December 31, 2015 as cash collateral, were used in January 2016 to redeem 10% of the principal amount of each of the following series of notes: (i) the €585.0 million ( $665.8 million ) outstanding principal amount of 5.5% senior secured notes due September 15, 2022 and (ii) the €450.0 million ( $512.1 million ) outstanding principal amount of 5.125% senior secured notes due January 21, 2023, each at a redemption price equal to 103% of the applicable redeemed principal amount in accordance with the indentures governing each of the notes. In connection with these transactions, we recognized a loss on debt modification and extinguishment, net, of $4.3 million . This loss includes (a) the payment of $3.4 million of redemption premium and (b) the write-off of $0.9 million of deferred financing costs. Maturities of Debt and Capital Lease Obligations Maturities of our debt and capital lease obligations as of March 31, 2016 are presented below for the named entity and its subsidiaries, unless otherwise noted. Amounts presented below represent U.S. dollar equivalents based on March 31, 2016 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: 2016 (remainder of year) $ 1,217.1 $ 182.1 $ 139.3 $ 524.0 $ 483.0 $ 380.6 $ 2,926.1 $ — $ — $ — $ 2,926.1 2017 6.7 — 11.5 135.0 8.4 535.0 696.6 — — — 696.6 2018 0.5 — — — 8.4 1,251.0 1,259.9 — — — 1,259.9 2019 0.6 — — — 19.2 346.0 365.8 — — — 365.8 2020 0.6 81.6 — — 12.7 27.6 122.5 — — — 122.5 2021 3,706.4 755.9 — 1,980.0 807.9 — 7,250.2 — — — 7,250.2 Thereafter 10,128.4 7,152.3 7,812.2 4,057.9 3,935.4 27.6 33,113.8 1,400.0 942.5 2,342.5 35,456.3 Total debt maturities 15,060.3 8,171.9 7,963.0 6,696.9 5,275.0 2,567.8 45,734.9 1,400.0 942.5 2,342.5 48,077.4 Unamortized premium (discount) 15.6 27.8 — (8.5 ) (2.7 ) (61.7 ) (29.5 ) — (8.4 ) (8.4 ) (37.9 ) Unamortized deferred financing costs (120.5 ) (30.2 ) (57.1 ) (36.7 ) (52.0 ) (1.2 ) (297.7 ) (25.2 ) (8.7 ) (33.9 ) (331.6 ) Total debt $ 14,955.4 $ 8,169.5 $ 7,905.9 $ 6,651.7 $ 5,220.3 $ 2,504.9 $ 45,407.7 $ 1,374.8 $ 925.4 $ 2,300.2 $ 47,707.9 Current portion (d) $ 1,224.1 $ 182.1 $ 150.8 $ 659.0 $ 483.0 $ 385.2 $ 3,084.2 $ — $ — $ — $ 3,084.2 Noncurrent portion $ 13,731.3 $ 7,987.4 $ 7,755.1 $ 5,992.7 $ 4,737.3 $ 2,119.7 $ 42,323.5 $ 1,374.8 $ 925.4 $ 2,300.2 $ 44,623.7 _______________ (a) Amounts include certain senior and senior secured notes issued by special purpose financing entities that are consolidated by Ziggo Group Holding and Liberty Global . (b) Amounts include certain senior and senior secured notes issued by special purpose financing entities that are consolidated by UPC Holding and Liberty Global . (c) Amounts include certain senior and senior secured notes issued by special purpose financing entities that are consolidated by Telenet and Liberty Global . (d) The outstanding principal amounts of our subsidiaries’ revolving credit facilities are included in our current debt maturities. 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: 2016 (remainder of year) $ 62.6 $ 54.1 $ 57.6 $ 23.8 $ 198.1 $ 0.6 $ 198.7 2017 83.5 64.5 37.6 17.1 202.7 0.2 202.9 2018 83.5 62.6 14.0 14.1 174.2 — 174.2 2019 83.5 52.6 6.6 9.0 151.7 — 151.7 2020 83.5 49.7 4.5 6.1 143.8 — 143.8 2021 83.5 47.8 4.2 5.8 141.3 — 141.3 Thereafter 741.3 194.8 197.0 40.1 1,173.2 — 1,173.2 Total principal and interest payments 1,221.4 526.1 321.5 116.0 2,185.0 0.8 2,185.8 Amounts representing interest (491.6 ) (131.5 ) (174.1 ) (24.3 ) (821.5 ) (0.1 ) (821.6 ) Present value of net minimum lease payments $ 729.8 $ 394.6 $ 147.4 $ 91.7 $ 1,363.5 $ 0.7 $ 1,364.2 Current portion $ 28.1 $ 43.1 $ 63.6 $ 20.6 $ 155.4 $ 0.7 $ 156.1 Noncurrent portion $ 701.7 $ 351.5 $ 83.8 $ 71.1 $ 1,208.1 $ — $ 1,208.1 Non-cash Refinancing Transactions During the three months ended March 31, 2016 and 2015 , certain of our refinancing transactions included non-cash borrowings and repayments of debt aggregating $113.8 million and $1,484.3 million , respectively. |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2016 | |
Accrued Income Taxes [Abstract] | |
Income Taxes | Income Taxes Income tax benefit attributable to our loss before income taxes differs from the amounts computed using the applicable income tax rate as a result of the following factors: Three months ended March 31, 2016 2015 in millions Computed “expected” tax benefit (a) $ 84.3 $ 121.4 Change in valuation allowances (b): Decrease (233.6 ) (226.0 ) Increase 133.7 1.0 Tax effect of intercompany financing 38.1 38.2 International rate differences (b) (c): Increase 35.2 91.3 Decrease (6.6 ) (12.4 ) Non-deductible or non-taxable foreign currency exchange results (b): Increase 18.6 69.5 Decrease (1.3 ) (8.7 ) Recognition of previously unrecognized tax benefits 15.0 8.9 Basis and other differences in the treatment of items associated with investments in subsidiaries and affiliates (b): Decrease (23.7 ) (1.0 ) Increase 11.3 14.5 Non-deductible or non-taxable interest and other expenses (b): Decrease (22.1 ) (33.7 ) Increase 9.9 11.2 Other, net (9.9 ) 3.7 Total income tax benefit $ 48.9 $ 77.9 _______________ (a) The statutory or “expected” tax rates are the U.K. rates of 20.0% and 20.25% for the three months ended March 31, 2016 and 2015 , respectively. During 2015, the U.K. enacted legislation that will change the corporate income tax rate from the current rate of 20.0% to 19.0% in April 2017 and 18.0% in April 2020. Substantially all of the impact of these rate changes on our deferred tax balances was recorded in the fourth quarter of 2015 when the change in law was enacted. (b) Country jurisdictions giving rise to increases are grouped together and shown separately from country jurisdictions giving rise to decreases. (c) Amounts reflect adjustments (either an increase or a decrease) to “expected” tax benefit for statutory rates in jurisdictions in which we operate outside of the U.K. At March 31, 2016 , our unrecognized tax benefits of $669.0 million included $292.7 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 and other factors. We are currently undergoing income tax audits in Chile, the Czech Republic, Germany, Hungary, the Netherlands, Poland, Slovakia, Switzerland and the U.S. Except as noted below, any adjustments that might arise from the foregoing examinations are not expected to have a material impact on our consolidated financial position or results of operations. In the U.S. , we have received notices of adjustment from the Internal Revenue Service with respect to our 2010 and 2009 income tax returns, as well as a proposed adjustment to our 2013 withholding tax return. We have entered into the appeals process with respect to the 2013, 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 March 31, 2016 . The amount of any such reductions could range up to $250 million . Other than the potential impacts of these ongoing examinations and the expected expiration of certain statutes of limitation, we do not expect any material changes to our unrecognized tax benefits during the next 12 months. No assurance can be given as to the nature or impact of any changes in our unrecognized tax positions during the next 12 months. |
Equity
Equity | 3 Months Ended |
Mar. 31, 2016 | |
Equity [Abstract] | |
Equity | Equity Liberty Global Shareholders A summary of the changes in our share capital during the three months ended March 31, 2016 is set forth in the table below: Liberty Global Shares LiLAC Shares Class A Class B Class C Class A Class B Class C Balance at January 1, 2016 $ 2.5 $ 0.1 $ 5.9 $ 0.1 $ — $ 0.3 Liberty Global call option contracts — — (0.1 ) — — — Balance at March 31, 2016 $ 2.5 $ 0.1 $ 5.8 $ 0.1 $ — $ 0.3 Share Repurchases During the three months ended March 31, 2016 , we purchased a total of 7,641,137 Class C Liberty Global Shares at a weighted average price of $37.49 for an aggregate purchase price of $286.4 million , including direct acquisition costs and the effects of derivative instruments. At March 31, 2016 , the remaining amount authorized for share repurchases was $3,715.1 million . |
Share-based Compensation
Share-based Compensation | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-based Compensation | Share-based Compensation Our share-based compensation expense primarily relates to the share-based incentive awards issued by Liberty Global to our and our subsidiaries’ employees. A summary of the aggregate share-based compensation expense that is included in our operating and SG&A expenses is set forth below: Three months ended March 31, 2016 2015 in millions Liberty Global: Performance-based incentive awards (a) $ 41.1 $ 42.1 Other share-based incentive awards 25.4 25.4 Total Liberty Global 66.5 67.5 Telenet share-based incentive awards 1.0 3.2 Other 1.5 0.7 Total $ 69.0 $ 71.4 Included in: Operating expense: Liberty Global Group $ 0.5 $ 0.7 LiLAC Group 0.2 — Total operating expense 0.7 0.7 SG&A expense: Liberty Global Group 66.7 71.8 LiLAC Group 1.6 (1.1 ) Total SG&A expense 68.3 70.7 Total $ 69.0 $ 71.4 _______________ (a) Includes share-based compensation expense related to (i) Liberty Global performance-based restricted share units ( PSU s ), including amounts resulting from the 2016 PSUs , as described and defined below, (ii) a challenge performance award plan for certain executive officers and key employees (the Challenge Performance Awards ) and (iii) the May 2014 grant of performance grant units ( PGUs ) to our Chief Executive Officer. The Challenge Performance Awards include performance-based share appreciation rights ( PSAR s ) and PSU s. The following table provides certain information related to share-based compensation not yet recognized for share-based incentive awards related to Liberty Global ordinary shares as of March 31, 2016 : Non-performance-based awards (a) Performance- based awards (a) (b) Total compensation expense not yet recognized (in millions) $ 165.5 $ 245.4 Weighted average period remaining for expense recognition (in years) 2.5 2.7 _______________ (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, including $191.2 million related to the 2016 PSUs , and (iii) the PGUs . 2016 PSUs In February 2016, the compensation committee of our board of directors approved the grant of PSUs to executive officers and key employees (the 2016 PSUs ) pursuant to a performance plan that is based on the achievement of a specified Adjusted OIBDA CAGR during the three-year period ended December 31, 2018. The 2016 PSUs require delivery of a compound annual growth rate of our consolidated operating cash flow ( OCF CAGR ) of 6.0% during the three -year performance period ending December 31, 2018, with over- and under-performance payout opportunities should the OCF CAGR exceed or fail to meet the target, as applicable. A performance range of 75% to 167.5% of the target OCF CAGR will generally result in award recipients earning 75% to 300% of their target 2016 PSUs , subject to reduction or forfeiture based on individual performance. The earned 2016 PSUs will vest 50% each on April 1, 2019 and October 1, 2019. During the first quarter of 2016, 6.3 million 2016 PSUs were granted with a weighted average grant-date fair value of $34.04 . |
Restructuring Liability
Restructuring Liability | 3 Months Ended |
Mar. 31, 2016 | |
Restructuring and Related Activities [Abstract] | |
Restructuring Liability | Restructuring Liability A summary of the changes in our restructuring liability during the three months ended March 31, 2016 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, 2016 $ 68.5 $ 7.3 $ 70.7 $ 146.5 Cash paid (17.1 ) (0.6 ) (28.5 ) (46.2 ) Restructuring charges 15.7 0.3 1.8 17.8 Foreign currency translation adjustments and other 3.1 (0.1 ) 4.0 7.0 Restructuring liability as of March 31, 2016 $ 70.2 $ 6.9 $ 48.0 $ 125.1 Current portion $ 65.3 $ 1.3 $ 10.8 $ 77.4 Noncurrent portion 4.9 5.6 37.2 47.7 Total $ 70.2 $ 6.9 $ 48.0 $ 125.1 Our restructuring charges during the three months ended March 31, 2016 include employee severance and termination costs related to certain reorganization and integration activities of $7.0 million in the European Operations Division ’s central operations, $4.4 million in U.K./Ireland and $3.9 million in the Netherlands. We expect to record significant restructuring charges during the remainder of 2016, due largely to our ongoing company-wide effort to optimize our operating model. In addition, we expect to undertake restructuring programs in certain of our operating segments, including programs to be undertaken in connection with the integration of acquired entities. |
Earnings or Loss per Share
Earnings or Loss per Share | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings or Loss per Share | Earnings or Loss per Share Basic earnings or loss per share ( EPS ) is computed by dividing net earnings or loss by the weighted average number of shares outstanding for the period. Diluted earnings or loss per share presents the dilutive effect, if any, on a per share basis of potential shares (e.g., options, share appreciation rights ( SAR s), PSAR s, restricted share units ( 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 holders of Liberty Global Shares , LiLAC Shares and Old Liberty Global Shares are set forth below: Three months ended March 31, 2016 2015 in millions Net loss attributable to holders of: Liberty Global Shares $ (330.6 ) $ — LiLAC Shares (38.5 ) — Old Liberty Global Shares — (537.5 ) Net loss attributable to Liberty Global shareholders $ (369.1 ) $ (537.5 ) Liberty Global Shares We reported a loss attributable to holders of Liberty Global Shares for the three months ended March 31, 2016 . Therefore, the potentially dilutive effect at March 31, 2016 of the following items was not included in the computation of diluted loss per share attributable to holders of Liberty Global Shares because their inclusion would have been anti-dilutive to the computation or, in the case of certain PSU s and PGUs , because such awards had not yet met the applicable performance criteria: (i) the aggregate number of shares issuable pursuant to outstanding options, SAR s, PSAR s and RSU s of approximately 41.9 million , (ii) the aggregate number of shares issuable pursuant to PSU s and PGUs of approximately 10.0 million and (iii) the aggregate number of shares issuable pursuant to obligations that may be settled in cash or shares of approximately 2.7 million . LiLAC Shares We reported a loss attributable to holders of LiLAC Shares for the three months ended March 31, 2016 . Therefore, the potentially dilutive effect at March 31, 2016 of the following items was not included in the computation of diluted loss per share attributable to holders of LiLAC Shares 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: (i) the aggregate number of shares issuable pursuant to outstanding options, SAR s, PSAR s and RSU s of approximately 1.4 million and (ii) the aggregate number of shares issuable pursuant to PSU s of approximately 0.4 million . Old Liberty Global Shares We reported a loss attributable to holders of Old Liberty Global Shares for the three months ended March 31, 2015 . Therefore, the potentially dilutive effect at March 31, 2015 of the following items was not included in the computation of diluted loss per share attributable to holders of Old Liberty Global Shares because their inclusion would have been anti-dilutive to the computation or, in the case of certain PSU s and PGUs , because such awards had not yet met the applicable performance criteria: (i) the aggregate number of shares issuable pursuant to outstanding options, SAR s, PSAR s and RSU s of approximately 36.1 million , (ii) the number of shares issuable pursuant to PSU s and PGUs of approximately 4.7 million and (iii) the aggregate number of shares issuable pursuant to obligations that may be settled in cash or shares of approximately 2.6 million . |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2016 | |
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 and services, non-cancellable operating leases and other items. The following table sets forth the U.S. dollar equivalents of such commitments as of March 31, 2016 : Payments due during: Remainder 2017 2018 2019 2020 2021 Thereafter Total in millions Programming commitments $ 820.7 $ 971.5 $ 780.6 $ 299.3 $ 11.3 $ 7.1 $ 0.8 $ 2,891.3 Network and connectivity commitments 712.8 258.3 139.7 98.1 63.1 54.6 908.8 2,235.4 Purchase commitments 1,010.3 237.7 124.0 53.9 44.6 15.1 62.3 1,547.9 Operating leases 128.7 139.5 117.1 90.4 68.9 56.1 242.7 843.4 Other commitments 91.8 50.0 32.4 26.9 13.3 14.4 8.5 237.3 Total (a) $ 2,764.3 $ 1,657.0 $ 1,193.8 $ 568.6 $ 201.2 $ 147.3 $ 1,223.1 $ 7,755.3 _______________ (a) The commitments included in this table do not reflect any liabilities that are included in our March 31, 2016 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 as 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. Historically, payments to programming vendors have represented a significant portion of our operating costs, and we expect that this will continue to be the case in future periods. In this regard, our total programming and copyright costs aggregated $599.5 million (including $534.1 million for the Liberty Global Group and $65.4 million for the LiLAC Group ) and $561.5 million (including $502.6 million for the Liberty Global Group and $58.9 million for the LiLAC Group ) during the three months ended March 31, 2016 and 2015 , respectively. Network and connectivity commitments include (i) Telenet ’s commitments for certain operating costs associated with its leased network, (ii) service commitments associated with our network extension projects, primarily in the U.K. , (iii) commitments associated with our mobile virtual network operator ( MVNO ) agreements and (iv) certain repair and maintenance, fiber capacity and energy commitments of Unitymedia . Telenet ’s commitments for certain operating costs are subject to adjustment based on changes in the network operating costs incurred by Telenet with respect to its own networks. These potential adjustments are not subject to reasonable estimation and, therefore, are not included in the above table. The amounts reflected in the above 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 and legally binding obligations related to (i) the purchase of customer premises and other equipment and (ii) certain service-related commitments, including call center, information technology and maintenance services. 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 three months ended March 31, 2016 and 2015 , 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 (i) indemnifications to our lenders, our vendors and certain other parties and (ii) 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 ( Proximus ), the incumbent telecommunications operator in Belgium, instituted several proceedings seeking to block implementation of these agreements. Proximus 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. While these proceedings were suspended indefinitely, other proceedings were initiated, which resulted in a ruling by the Belgian Council of State in May 2014 annulling (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 . In December 2015, Proximus resumed the civil proceedings pending with the Court of Appeal of Antwerp seeking to have the 2008 PICs Agreement annulled and claiming damages of €1.4 billion ( $1.6 billion ). Telenet is in the process of evaluating the resumed proceedings and claim for damages and intends to defend itself vigorously. 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 responsible for damages in excess of €20.0 million ( $22.8 million ). 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. No amounts have been accrued by us with respect to this matter as the likelihood of loss is not considered to be probable. 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 ( $86 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 2016, 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 was 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. In February 2016, Vivendi S.A. ( Vivendi ) and Liberty Media settled the litigation and, as a result of such settlement, our subsidiary received a cash payment of $69.8 million , which is included in other income (expense), net, in our condensed consolidated statement of operations and other investing activities, net, in our condensed consolidated statement of cash flows. We consider this matter to be closed. 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 ). The PRTC Claim includes 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 through November 8, 2016 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 ). In February 2012, Telenet submitted draft reference offers regarding the obligations described above, 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, on March 1, 2016, Mobistar SA ( Mobistar ) launched a commercial offer combining a cable TV package and broadband internet access for certain of their mobile customers. 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 December 14, 2015, the Belgium Regulatory Authorities published a draft decision, which amended previously-issued decisions and sets forth the “retail-minus” tariffs of minus 26% for basic television (basic analog and digital video package) and minus 18% for the bundle of basic television and broadband internet services during an initial two -year period. Following this two -year period, the tariffs would change to minus 15% and 7% , respectively. The draft decision was notified to the European Commission and a final decision was adopted on February 19, 2016. On April 25, 2016, Telenet filed an appeal challenging this decision with Court of Appeals in Brussels. 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). 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. On November 30, 2015, Telenet filed an appeal of this decision with the Belgian Supreme Court . In 2015, Telenet and wireless operator Mobistar each filed an appeal with the Brussels Court of Appeal against the decision regarding the quantitative aspects of the reference offers. A decision with respect to these appeals is expected during 2016. 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. Financial Transactions Tax. Certain countries in the EU , including 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 participating countries. Although there continues to be ongoing discussions in the relevant countries around the FTT , uncertainty remains as to if and when the FTT will 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 January 2017. 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 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 £46.1 million ( $66.4 million ) as of March 31, 2016 . No portion of this exposure has been accrued by Virgin Media as the likelihood of loss is not considered to be probable. A court hearing was held at the end of September 2014 in relation to the U.K. tax authorities’ challenge and the court’s decision is expected prior to June 30, 2016. 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 we offer to our fixed-line telephony customers. This change, which took effect on May 1, 2014, impacted our company and some of our competitors. The U.K. tax authority issued a decision in the fourth quarter of 2015 challenging our application of the prompt payment discount rules prior to the May 1, 2014 change in legislation. We have appealed this decision. As part of the appeal process, we were required to make aggregate payments of £67.0 million ( $99.1 million at the respective transaction dates), which included the challenged amount of £63.7 million and related interest of £3.3 million . The aggregate amount paid does not include penalties, which could be significant in the unlikely event that penalties were to be assessed. This matter will likely be subject to court proceedings that could delay the ultimate resolution for an extended period of time. No portion of this potential exposure has been accrued by our company as the likelihood of loss is not considered to be probable. Hungary VAT Matter. In February 2016, our direct-to-home satellite ( DTH ) operations in Luxembourg received a second instance decision from the Hungarian tax authorities as a result of an audit with respect to VAT payments that the Hungarian tax authorities conducted for the years 2010 through 2012. The Hungarian tax authorities have assessed our DTH operations with an obligation to pay VAT for the years audited of HUF 5,413.2 million ( $19.6 million ), excluding interest and penalties, which could be significant. We believe that our DTH operations have operated in compliance with all applicable rules, regulations and interpretations thereof, including a binding tax ruling that we received from the Hungarian government in 2010. Although under applicable law the full amount of the assessment was due on March 1, 2016, we have filed a request for suspension of payment and, accordingly, no payment has been made. We expect a decision on our request for suspension of payment in the coming months, at which time we may be required to make a payment equal to the assessed amount. No portion of this exposure has been accrued by us as 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. The oral hearing in this matter is currently scheduled for September 23, 2016. 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. We have security accreditations across a range of 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 channel carriage fees. While we generally expect that the amounts required to satisfy these contingencies will not materially differ from any estimated amounts we have accrued, no assurance can be given that the resolution of one or more of these contingencies will not result in a material impact on our results of operations, cash flows or financial position in any given period. Due, in general, to the complexity of the issues involved and, in certain cases, the lack of a clear basis for predicting outcomes, we cannot provide a meaningful range of potential losses or cash outflows that might result from any unfavorable outcomes. |
Segment Reporting
Segment Reporting | 3 Months Ended |
Mar. 31, 2016 | |
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 before income taxes is presented below. We began presenting our operating segment in Puerto Rico as a separate reportable segment during the second quarter of 2015 in anticipation of the issuance of the LiLAC Shares . Previously, this operating segment was included in our corporate and other category. Segment information for all periods presented reflects the above-described change. As of March 31, 2016 , 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 March 31, 2016 , 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. 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 2016 2015 in millions Liberty Global Group: European Operations Division: U.K./Ireland $ 1,686.5 $ 1,711.4 The Netherlands 669.8 707.4 Germany 617.1 597.9 Belgium (a) 610.2 502.7 Switzerland/Austria 433.4 439.3 Total Western Europe 4,017.0 3,958.7 Central and Eastern Europe 266.1 268.2 Central and other (2.4 ) (2.8 ) Total European Operations Division 4,280.7 4,224.1 Corporate and other 14.6 12.8 Intersegment eliminations (b) (11.2 ) (7.8 ) Total Liberty Global Group 4,284.1 4,229.1 LiLAC Group: Chile 200.0 208.8 Puerto Rico (c) 103.9 79.0 Total LiLAC Group 303.9 287.8 Total $ 4,588.0 $ 4,516.9 _______________ (a) The amount presented for the 2016 period includes the post-acquisition revenue of BASE from February 12, 2016 through March 31, 2016 . (b) Amounts are primarily related to transactions between our European Operations Division and our programming operations. (c) The amount presented for the 2015 period excludes the revenue of Choice , which was acquired on June 3, 2015 . Adjusted OIBDA Three months ended 2016 2015 in millions Liberty Global Group: European Operations Division: U.K./Ireland $ 744.6 $ 763.3 The Netherlands 367.9 367.9 Germany 379.4 364.0 Belgium (a) 269.8 247.0 Switzerland/Austria 258.1 248.8 Total Western Europe 2,019.8 1,991.0 Central and Eastern Europe 110.9 118.1 Central and other (84.3 ) (67.9 ) Total European Operations Division 2,046.4 2,041.2 Corporate and other (52.8 ) (52.1 ) Total Liberty Global Group 1,993.6 1,989.1 LiLAC Group: LiLAC Division: Chile 76.3 76.0 Puerto Rico (b) 46.8 33.5 Total LiLAC Division 123.1 109.5 Corporate and other (1.2 ) (1.3 ) Total LiLAC Group 121.9 108.2 Total $ 2,115.5 $ 2,097.3 _______________ (a) The amount presented for the 2016 period includes the post-acquisition Adjusted OIBDA of BASE from February 12, 2016 through March 31, 2016 . (b) The amount presented for the 2015 period excludes the Adjusted OIBDA of Choice , which was acquired on June 3, 2015 . The following table provides a reconciliation of total segment Adjusted OIBDA to loss before income taxes: Three months ended 2016 2015 in millions Total segment Adjusted OIBDA $ 2,115.5 $ 2,097.3 Share-based compensation expense (69.0 ) (71.4 ) Depreciation and amortization (1,435.5 ) (1,451.4 ) Impairment, restructuring and other operating items, net (24.4 ) (17.0 ) Operating income 586.6 557.5 Interest expense (619.3 ) (615.9 ) Realized and unrealized gains (losses) on derivative instruments, net (508.7 ) 618.5 Foreign currency transaction gains (losses), net 339.0 (1,035.6 ) Realized and unrealized gains (losses) due to changes in fair values of certain investments, net (268.2 ) 151.4 Losses on debt modification and extinguishment, net (4.3 ) (274.5 ) Other income (expense), net 53.3 (1.0 ) Loss before income taxes $ (421.6 ) $ (599.6 ) 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 . Three months ended 2016 2015 in millions Liberty Global Group: European Operations Division: U.K./Ireland $ 368.5 $ 347.3 The Netherlands 140.1 120.8 Germany 127.0 142.9 Belgium (a) 98.9 63.2 Switzerland/Austria 58.4 56.6 Total Western Europe 792.9 730.8 Central and Eastern Europe 59.9 48.6 Central and other 68.6 50.3 Total European Operations Division 921.4 829.7 Corporate and other 4.1 39.1 Total Liberty Global Group 925.5 868.8 LiLAC Group: Chile 52.4 40.4 Puerto Rico (b) 19.1 15.7 Total LiLAC Group 71.5 56.1 Total property and equipment additions 997.0 924.9 Assets acquired under capital-related vendor financing arrangements (438.9 ) (295.0 ) Assets acquired under capital leases (27.9 ) (62.0 ) Changes in current liabilities related to capital expenditures 106.9 93.3 Total capital expenditures $ 637.1 $ 661.2 _______________ (a) The amount presented for the 2016 period includes the post-acquisition property and equipment additions of BASE from February 12, 2016 through March 31, 2016 . (b) The amount presented for the 2015 period excludes the 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 2016 2015 in millions Subscription revenue (a): Video $ 1,567.7 $ 1,605.8 Broadband internet 1,280.9 1,232.9 Fixed-line telephony 752.1 796.2 Cable subscription revenue 3,600.7 3,634.9 Mobile (b) 293.2 251.7 Total subscription revenue 3,893.9 3,886.6 B2B revenue (c) 387.8 377.9 Other revenue (b) (d) 306.3 252.4 Total $ 4,588.0 $ 4,516.9 _______________ (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 $65.0 million and $54.4 million during the three months ended March 31, 2016 and 2015 , 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 or home office ( SOHO ) subscribers. SOHO subscribers pay a premium price to receive expanded 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 is included in cable subscription revenue, aggregated $86.8 million and $62.6 million during the three months ended March 31, 2016 and 2015 , respectively. (d) Other revenue includes, among other items, interconnect, mobile handset sales, channel carriage fee and installation revenue . Geographic Segments The revenue of our geographic segments is set forth below: Three months ended 2016 2015 in millions Liberty Global Group: European Operations Division: U.K. $ 1,578.5 $ 1,612.0 The Netherlands 669.8 707.4 Germany 617.1 597.9 Belgium (a) 610.2 502.7 Switzerland 339.3 346.8 Ireland 108.0 99.4 Poland 96.6 101.0 Austria 94.1 92.5 Hungary 65.4 65.0 The Czech Republic 44.2 44.4 Romania 41.4 38.9 Slovakia 14.7 15.2 Other 1.4 0.9 Total European Operations Division 4,280.7 4,224.1 Other, including intersegment eliminations 3.4 5.0 Total Liberty Global Group 4,284.1 4,229.1 LiLAC Group: Chile 200.0 208.8 Puerto Rico (b) 103.9 79.0 Total LiLAC Group 303.9 287.8 Total $ 4,588.0 $ 4,516.9 _______________ (a) The amount presented for the 2016 period includes the post-acquisition revenue of BASE from February 12, 2016 through March 31, 2016 . (b) The amount presented for the 2015 period excludes the revenue of Choice , which was acquired on June 3, 2015 . |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events Virgin Media Refinancing Transaction On April 26, 2016, Virgin Media Secured Finance PLC ( Virgin Media Secured Finance ) issued $750.0 million principal amount of 5.5% senior secured notes due August 15, 2026 (the August 2026 VM Senior Secured Notes ). The net proceeds from the August 2026 VM Senior Secured Notes were used to repay in full the outstanding amount under the VM Revolving Facility , and the remainder will be used for general corporate purposes. Subject to the circumstances described below, the August 2026 VM Senior Secured Notes are non-callable until August 15, 2021. At any time prior to August 15, 2021, Virgin Media Secured Finance may redeem some or all of the August 2026 VM Senior Secured Notes by paying a “make-whole” premium, which is the present value of all remaining scheduled interest payments to August 15, 2021 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 August 2026 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, as set forth below: Redemption price 12-month period commencing August 15: 2021 102.750% 2022 101.375% 2023 100.688% 2024 and thereafter 100.000% Telenet Refinancing Transaction On May 2, 2016, Telenet Financing USD LLC, a wholly-owned subsidiary of Telenet , entered into a new $850.0 million term loan facility ( Telenet Facility AD ). Telenet Facility AD was issued at 99.5% of par, matures on June 30, 2024, bears interest at a rate of LIBOR plus 3.50% and has a LIBOR floor of 0.75% . The net proceeds from Telenet Facility AD will be used to repay in full (i) the €400.0 million ( $455.2 million ) principal amount of Telenet Facility P , together with accrued and unpaid interest and the related prepayment premium, to Telenet Finance IV Luxembourg S.C.A. ( Telenet Finance IV ) and, in turn, Telenet Finance IV will use such proceeds to fully redeem the €400.0 million ( $455.2 million ) principal amount of its senior secured floating rate notes and (ii) the €300.0 million ( $341.4 million ) principal amount of Telenet Facility O , together with accrued and unpaid interest and the related prepayment premium, to Telenet Finance III Luxembourg S.C.A. ( Telenet Finance III ) and, in turn, Telenet Finance III will use such proceeds to fully redeem the €300.0 million ( $341.4 million ) principal amount of its 6.625% senior secured notes. |
Acquisition and Joint Venture23
Acquisition and Joint Venture Transactions (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Base Company NV [Member] | |
Business Acquisition [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | A summary of the purchase price and the preliminary opening balance sheet for the BASE Acquisition at the February 11, 2016 acquisition date is presented in the following table (in millions): Cash and cash equivalents $ 160.1 Other current assets 170.3 Property and equipment, net 786.4 Goodwill (a) 353.5 Intangible assets subject to amortization, net: Mobile spectrum (b) 261.0 Customer relationships (c) 133.1 Trademarks (d) 40.7 Other assets, net 11.4 Other accrued and current liabilities (326.3 ) Other long-term liabilities (92.5 ) Total purchase price (e) $ 1,497.7 _______________ (a) The goodwill recognized in connection with the BASE Acquisition is primarily attributable to (i) the ability to take advantage of BASE ’s existing mobile network to gain immediate access to potential customers and (ii) synergies that are expected to be achieved through the integration of BASE with Telenet . (b) As of February 11, 2016 , the weighted average useful life of BASE ’s mobile spectrum was approximately 11 years . (c) As of February 11, 2016 , the weighted average useful life of BASE ’s customer relationships was approximately six years . (d) As of February 11, 2016 , the weighted average useful life of BASE ’s trademarks was approximately 20 years . (e) Excludes direct acquisition costs of $11.2 million , including $1.2 million incurred during the first quarter of 2016, which are included in impairment, restructuring and other operating items, net, in our consolidated statements of operations. |
Choice Acquisition [Member] | |
Business Acquisition [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | A summary of the purchase price and opening balance sheet for the Choice Acquisition at the June 3, 2015 acquisition date is presented in the following table. The opening balance sheet presented below reflects our final purchase price allocation (in millions): Cash and cash equivalents $ 3.6 Other current assets 7.8 Property and equipment, net 79.8 Goodwill (a) 51.6 Intangible assets subject to amortization, net (b) 59.1 Franchise rights 147.8 Other assets, net 0.3 Other accrued and current liabilities (13.2 ) Non-current deferred tax liabilities (60.4 ) Total purchase price (c) $ 276.4 _______________ (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) synergies that are expected to be achieved through the integration of Choice with Liberty Puerto Rico . (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 $8.5 million incurred through December 31, 2015, which were included in impairment, restructuring and other operating items, net, in our consolidated statement of operations for the year ended December 31, 2015. |
Choice and BASE Acquisitions [Member] | |
Business Acquisition [Line Items] | |
Pro Forma Information for Significant Acquisitions | In the following table, we present the revenue that is attributed to the Liberty Global Group and the LiLAC Group as if such revenue had been attributed to each group at the beginning of each period presented. However, our presentation of net loss and basic and diluted loss per share attributed to (a) Liberty Global Shares , (b) LiLAC Shares and (c) Old Liberty Global Shares only includes the results of operations for the periods during which these shares were outstanding. Accordingly, (1) our net loss attributed to Liberty Global Shares and LiLAC Shares relates to the period from January 1, 2016 through March 31, 2016 and (2) our net loss attributed to Old Liberty Global Shares relates to the period from January 1, 2015 through March 31, 2015. Three months ended March 31, 2016 2015 in millions, except per share amounts Revenue: Liberty Global Group $ 4,358.5 $ 4,398.7 LiLAC Group 303.9 309.9 Total $ 4,662.4 $ 4,708.6 Net loss attributable to Liberty Global shareholders: Liberty Global Shares $ (334.2 ) $ — LiLAC Shares (38.5 ) — Old Liberty Global Shares — (545.0 ) Total $ (372.7 ) $ (545.0 ) Basic and diluted loss attributable to Liberty Global shareholders per share: Liberty Global Shares $ (0.40 ) LiLAC Shares $ (0.88 ) Old Liberty Global Shares $ (0.61 ) |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Derivative [Line Items] | |
Schedule of Fair Values of Derivative Instrument Assets and Liabilities | The following table provides details of the fair values of our derivative instrument assets and liabilities: March 31, 2016 December 31, 2015 Current Long-term (a) Total Current Long-term (a) Total in millions Assets: Cross-currency and interest rate derivative contracts: Liberty Global Group $ 306.1 $ 1,284.0 $ 1,590.1 $ 263.6 $ 1,518.5 $ 1,782.1 LiLAC Group 7.2 210.5 217.7 11.8 291.7 303.5 Total cross-currency and interest rate derivative contracts (b) 313.3 1,494.5 1,807.8 275.4 1,810.2 2,085.6 Equity-related derivative instruments – Liberty Global Group (c) 198.1 465.3 663.4 135.5 273.0 408.5 Foreign currency forward contracts: Liberty Global Group 1.9 — 1.9 6.2 — 6.2 LiLAC Group 0.1 — 0.1 4.2 — 4.2 Total foreign currency forward contracts 2.0 — 2.0 10.4 — 10.4 Other – Liberty Global Group 1.6 1.3 2.9 0.6 1.0 1.6 Total assets: Liberty Global Group 507.7 1,750.6 2,258.3 405.9 1,792.5 2,198.4 LiLAC Group 7.3 210.5 217.8 16.0 291.7 307.7 Total $ 515.0 $ 1,961.1 $ 2,476.1 $ 421.9 $ 2,084.2 $ 2,506.1 Liabilities: Cross-currency and interest rate derivative contracts: Liberty Global Group $ 587.8 $ 1,374.1 $ 1,961.9 $ 304.9 $ 1,194.7 $ 1,499.6 LiLAC Group 9.6 45.9 55.5 — 13.8 13.8 Total cross-currency and interest rate derivative contracts (b) 597.4 1,420.0 2,017.4 304.9 1,208.5 1,513.4 Equity-related derivative instruments – Liberty Global Group (c) 37.2 — 37.2 34.7 39.7 74.4 Foreign currency forward contracts: Liberty Global Group 4.7 0.2 4.9 1.1 — 1.1 LiLAC Group 7.5 0.1 7.6 — — — Total foreign currency forward contracts 12.2 0.3 12.5 1.1 — 1.1 Other – Liberty Global Group 1.0 0.7 1.7 5.6 0.1 5.7 Total liabilities: Liberty Global Group 630.7 1,375.0 2,005.7 346.3 1,234.5 1,580.8 LiLAC Group 17.1 46.0 63.1 — 13.8 13.8 Total $ 647.8 $ 1,421.0 $ 2,068.8 $ 346.3 $ 1,248.3 $ 1,594.6 _______________ (a) Our long-term derivative assets and liabilities are included in other assets, net, and other long-term liabilities, respectively, in our condensed consolidated balance sheets. (b) We consider credit risk in our fair value assessments. As of March 31, 2016 and December 31, 2015 , (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 $77.5 million and $64.0 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 $123.9 million and $86.5 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 $21.4 million and ( $16.9 million ) during the three months ended March 31, 2016 and 2015 , respectively. These amounts are included in realized and unrealized gains (losses) on derivative instruments, net, in our condensed consolidated statements of operations. For further information regarding our fair value measurements, see note 5 . (c) Our equity-related derivative instruments primarily include the fair value of (i) the share collar (the ITV Collar ) with respect to ITV plc ( ITV ) shares held by our company, (ii) the share collar (the Sumitomo Collar ) with respect to the shares of Sumitomo Corporation held by our company, (iii) the prepaid forward transaction (the Lionsgate Forward ) with respect to 2.5 million of the shares of Lions Gate Entertainment Corp ( Lionsgate ) held by our company and (iv) 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 the ITV Collar , the Sumitomo Collar and the Lionsgate Forward do not include credit risk valuation adjustments as we assume that any losses incurred by our company in the event of nonperformance by the respective counterparty would be, subject to relevant insolvency laws, fully offset against amounts we owe to such counterparty pursuant to the related secured borrowing arrangements. |
Schedule of Realized and Unrealized Losses on Derivative Instruments | The details of our realized and unrealized gains (losses) on derivative instruments, net, are as follows: Three months ended March 31, 2016 2015 in millions Cross-currency and interest rate derivative contracts: Liberty Global Group $ (635.4 ) $ 662.3 LiLAC Group (137.6 ) 78.2 Total cross-currency and interest rate derivative contracts (773.0 ) 740.5 Equity-related derivative instruments – Liberty Global Group: ITV Collar 205.4 (105.4 ) Sumitomo Collar 68.7 (10.1 ) Lionsgate Forward 18.7 — Other 0.4 0.6 Total equity-related derivative instruments 293.2 (114.9 ) Foreign currency forward contracts: Liberty Global Group (21.7 ) (9.3 ) LiLAC Group (7.1 ) 1.2 Total foreign currency forward contracts (28.8 ) (8.1 ) Other – Liberty Global Group (0.1 ) 1.0 Total Liberty Global Group (364.0 ) 539.1 Total LiLAC Group (144.7 ) 79.4 Total $ (508.7 ) $ 618.5 |
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 net cash outflows is as follows: Three months ended March 31, 2016 2015 in millions Operating activities: Liberty Global Group $ 9.7 $ (118.7 ) LiLAC Group 7.5 (19.1 ) Total operating activities 17.2 (137.8 ) Investing activities (a) — 2.6 Financing activities (a) (32.0 ) (486.5 ) Total cash outflows: Liberty Global Group (22.3 ) (602.6 ) LiLAC Group 7.5 (19.1 ) Total $ (14.8 ) $ (621.7 ) _______________ (a) Amounts are attributed to the Liberty Global Group . |
Cross-currency and interest rate derivative contracts | |
Derivative [Line Items] | |
Schedule of Derivative Instruments | The terms of our outstanding cross-currency swap contracts at March 31, 2016 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 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 $ 447.9 £ 276.7 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% 5.40% January 2022 - January 2025 $ 425.0 £ 255.8 3 mo. LIBOR 4.86% April 2019 $ 191.5 £ 122.3 5.38% 5.49% April 2023 (a) $ 180.0 £ 112.5 1.64% 1.78% February 2022 - April 2023 $ 175.0 £ 108.9 4.88% 5.19% October 2019 $ 100.0 £ 65.4 7.19% 7.23% February 2022 (a) $ 100.0 £ 62.2 0.50% 0.56% November 2016 (a) $ 55.0 £ 27.7 6.50% 7.03% October 2019 - October 2022 $ 50.0 £ 30.7 6.00% 5.75% UPC Broadband Holding B.V. ( 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% November 2019 $ 250.0 € 181.5 7.25% 7.74% November 2021 $ 250.0 € 181.4 7.25% 7.50% January 2020 $ 170.6 € 130.1 6 mo. LIBOR + 4.88% 7.49% October 2020 $ 125.0 € 91.3 6 mo. LIBOR + 3.00% 6 mo. EURIBOR + 3.04% January 2022 $ 81.9 € 62.4 6 mo. LIBOR + 5.04% 7.19% January 2020 $ 73.1 € 55.7 6 mo. LIBOR + 4.87% 6 mo. EURIBOR + 4.87% January 2022 $ 49.4 € 37.6 6 mo. LIBOR + 5.04% 6 mo. EURIBOR + 5.11% December 2016 $ 340.0 CHF 370.9 6 mo. LIBOR + 3.50% 6 mo. CHF LIBOR + 4.01% July 2016 (a) $ 225.0 CHF 206.3 6 mo. LIBOR + 4.81% 1.00% Subsidiary / F inal maturity date Notional amount due from counterparty Notional amount due to counterparty Interest rate due from counterparty Interest rate in millions July 2016 - January 2020 $ 225.0 CHF 206.3 6 mo. LIBOR + 4.81% 5.44% 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 2021 $ 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% 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% October 2016 € 285.1 CHF 346.7 10.51% (0.73)% October 2016 - January 2020 € 285.1 CHF 346.7 10.51% 9.42% 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% 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 2021 € 150.0 HUF 43,367.5 5.50% 3.75% 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% Amsterdamse Beheer-en Consultingmaatschappij B.V. ( ABC B.V. ), a subsidiary of Ziggo Group Holding: January 2022 $ 2,350.0 € 1,819.0 6 mo. LIBOR + 2.75% 4.56% Subsidiary / F inal maturity date Notional amount due from counterparty Notional amount due to counterparty Interest rate due from counterparty Interest rate in millions January 2023 $ 400.0 € 339.0 5.88% 4.58% Unitymedia Hessen GmbH & Co. KG ( Unitymedia Hessen ), a subsidiary of Unitymedia: January 2023 $ 2,450.0 € 1,799.0 5.62% 4.76% VTR: January 2022 $ 1,400.0 CLP 951,390.0 6.88% 6.36% _______________ (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 derivative instruments are interest payments and receipts. |
Interest Rate Swap [Member] | |
Derivative [Line Items] | |
Schedule of Derivative Instruments | The terms of our outstanding interest rate swap contracts at March 31, 2016 are as follows: Subsidiary / Final maturity date Notional amount Interest rate due from counterparty Interest rate due to (from) counterparty in millions VMIH: October 2018 £ 1,198.3 6 mo. GBP LIBOR 1.52% October 2018 - June 2023 £ 1,198.3 6 mo. GBP LIBOR 2.49% June 2023 £ 1,035.6 6 mo. GBP LIBOR + 0.53% 2.14% January 2021 £ 905.1 6 mo. GBP LIBOR + 0.71% 2.37% January 2021 £ 628.4 5.50% 6 mo. GBP LIBOR + 1.84% April 2023 £ 108.9 6.85% 6 mo. GBP LIBOR + 5.62% June 2022 £ 100.0 6 mo. GBP LIBOR 1.54% February 2022 £ 62.2 5.72% 6 mo. GBP LIBOR + 4.63% 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% January 2022 € 107.0 6 mo. EURIBOR 2.86% July 2016 - July 2020 € 43.4 6 mo. EURIBOR 3.95% July 2016 CHF 1,629.8 6 mo. CHF LIBOR (0.25)% July 2016 - September 2022 CHF 729.8 6 mo. CHF LIBOR 1.75% 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% Subsidiary / Final maturity date Notional amount Interest rate due from counterparty Interest rate due to (from) counterparty in millions June 2021 CHF 370.9 6 mo. CHF LIBOR (0.25)% November 2016 CHF 226.8 6 mo. CHF LIBOR (1.27)% November 2016 - November 2021 CHF 158.7 6 mo. CHF LIBOR + 5.01% 6.34% November 2016 - June 2021 CHF 68.0 6 mo. CHF LIBOR + 5.01% 6.34% ABC B.V.: January 2022 € 1,566.0 6 mo. EURIBOR 1.66% January 2017 € 689.0 1 mo. EURIBOR + 3.75% 6 mo. EURIBOR + 3.57% January 2021 € 500.0 6 mo. EURIBOR 2.61% July 2016 € 461.3 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 - January 2022 € 171.3 6 mo. EURIBOR 3.44% Telenet International Finance S.a.r.l ( Telenet International ), a subsidiary of Telenet: June 2023 € 1,300.0 3 mo. EURIBOR 0.33% July 2017 € 800.0 3 mo. EURIBOR (0.17)% 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% 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% LGE Coral: May 2016 - December 2022 $ 440.0 3 mo. LIBOR 1.77% August 2016 - December 2022 $ 360.0 3 mo. LIBOR 1.92% |
Interest Rate Cap [Member] | |
Derivative [Line Items] | |
Schedule of Derivative Instruments | Our purchased and sold interest rate cap contracts with respect to EURIBOR at March 31, 2016 are detailed below: Subsidiary / Final maturity date Notional amount EURIBOR cap rate in millions Interest rate caps purchased (a): Liberty Global Europe Financing B.V. ( LGE Financing ), the immediate parent of UPC Holding: January 2020 € 735.0 7.00% Telenet International: June 2017 € 50.0 4.50% Telenet N.V., a subsidiary of Telenet: December 2017 € 0.4 6.50% December 2017 € 0.4 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 the relevant EURIBOR exceeds the EURIBOR cap rate during the specified observation periods. (b) Our sold interest rate cap requires that we make payments to the counterparty when the relevant EURIBOR exceeds the EURIBOR cap rate during the specified observation periods. |
Interest Rate Collar [Member] | |
Derivative [Line Items] | |
Schedule of Derivative Instruments | Our interest rate collar contracts establish floor and cap rates with respect to EURIBOR on the indicated notional amounts at March 31, 2016 , as detailed below: Subsidiary / Final maturity date Notional amount EURIBOR floor rate (a) EURIBOR cap rate (b) in millions UPC Broadband Holding: July 2016 - January 2020 € 1,135.0 1.00% 3.54% _______________ (a) We make payments to the counterparty when the relevant EURIBOR is less than the EURIBOR floor rate during the specified observation periods. (b) We receive payments from the counterparty when the relevant EURIBOR is greater than the EURIBOR cap rate during the specified observation periods. |
Foreign currency forward contracts | |
Derivative [Line Items] | |
Schedule of Derivative Instruments | The following table summarizes our outstanding foreign currency forward contracts at March 31, 2016 : Subsidiary Currency purchased forward Currency sold forward Maturity dates in millions LGE Financing $ 443.6 € 391.1 April 2016 - December 2016 LGE Financing € 28.1 $ 32.5 April 2017 - March 2018 LGE Financing £ 9.8 $ 14.9 April 2016 - May 2016 LGE Financing £ 88.0 € 111.3 April 2016 UPC Broadband Holding $ 2.5 CZK 60.0 April 2016 - March 2017 UPC Broadband Holding € 64.9 CHF 70.5 April 2016 - March 2017 UPC Broadband Holding € 20.1 CZK 540.0 April 2016 - March 2017 UPC Broadband Holding € 18.9 HUF 6,000.0 April 2016 - March 2017 UPC Broadband Holding € 36.0 PLN 156.4 April 2016 - March 2017 UPC Broadband Holding € 11.2 RON 50.0 April 2016 UPC Broadband Holding £ 3.6 € 4.8 April 2016 - March 2017 UPC Broadband Holding CHF 30.0 € 27.4 April 2016 UPC Broadband Holding CZK 340.0 € 12.6 April 2016 UPC Broadband Holding HUF 2,200.0 € 7.0 April 2016 UPC Broadband Holding PLN 45.0 € 10.5 April 2016 Telenet N.V. $ 51.1 € 45.6 April 2016 - March 2017 VTR $ 161.2 CLP 114,681.8 April 2016 - April 2017 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Summary of Assets and Liabilities Measured at Fair Value | A summary of our assets and liabilities that are measured at fair value on a recurring basis is as follows: Fair value measurements at March 31, 2016 using: Description March 31, 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 $ 1,807.8 $ — $ 1,807.8 $ — Equity-related derivative instruments 663.4 — — 663.4 Foreign currency forward contracts 2.0 — 2.0 — Other 2.9 — 2.9 — Total derivative instruments 2,476.1 — 1,812.7 663.4 Investments 2,348.0 1,946.8 — 401.2 Total assets $ 4,824.1 $ 1,946.8 $ 1,812.7 $ 1,064.6 Liabilities: Derivative instruments: Cross-currency and interest rate derivative contracts $ 2,017.4 $ — $ 2,017.4 $ — Equity-related derivative instruments 37.2 — — 37.2 Foreign currency forward contracts 12.5 — 12.5 — Other 1.7 — 1.7 — Total derivative liabilities 2,068.8 — 2,031.6 37.2 Debt 57.0 — 57.0 — Total liabilities $ 2,125.8 $ — $ 2,088.6 $ 37.2 Fair value measurements at December 31, 2015 using: Description December 31, 2015 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 $ 2,085.6 $ — $ 2,085.6 $ — Equity-related derivative instruments 408.5 — — 408.5 Foreign currency forward contracts 10.4 — 10.4 — Other 1.6 — 1.6 — Total derivative instruments 2,506.1 — 2,097.6 408.5 Investments 2,591.8 2,257.2 — 334.6 Total assets $ 5,097.9 $ 2,257.2 $ 2,097.6 $ 743.1 Liabilities - derivative instruments: Cross-currency and interest rate derivative contracts $ 1,513.4 $ — $ 1,513.4 $ — Equity-related derivative instruments 74.4 — — 74.4 Foreign currency forward contracts 1.1 — 1.1 — Other 5.7 — 5.7 — Total liabilities $ 1,594.6 $ — $ 1,520.2 $ 74.4 |
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, 2016 $ 334.6 $ 334.1 $ 668.7 Gains included in net loss (a): Realized and unrealized gains on derivative instruments, net — 293.2 293.2 Realized and unrealized gains due to changes in fair values of certain investments, net 42.3 — 42.3 Foreign currency translation adjustments and other, net 24.3 (1.1 ) 23.2 Balance of net assets at March 31, 2016 $ 401.2 $ 626.2 $ 1,027.4 _______________ (a) Most of these net gains relate to assets and liabilities that we continue to carry on our condensed consolidated balance sheet as of March 31, 2016 . |
Long-lived Assets (Tables)
Long-lived Assets (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Long lived Assets | |
Schedule of PP&E | The details of our property and equipment and the related accumulated depreciation are set forth below: March 31, December 31, in millions Distribution systems: Liberty Global Group $ 25,748.8 $ 24,447.2 LiLAC Group 1,105.6 1,037.8 Total 26,854.4 25,485.0 Customer premises equipment: Liberty Global Group 5,967.9 5,651.1 LiLAC Group 870.4 801.4 Total 6,838.3 6,452.5 Support equipment, buildings and land: Liberty Global Group 4,811.3 4,461.4 LiLAC Group 369.4 341.0 Total 5,180.7 4,802.4 Total property and equipment, gross: Liberty Global Group 36,528.0 34,559.7 LiLAC Group 2,345.4 2,180.2 Total 38,873.4 36,739.9 Accumulated depreciation: Liberty Global Group (14,636.6 ) (13,719.2 ) LiLAC Group (1,449.5 ) (1,336.7 ) Total (16,086.1 ) (15,055.9 ) Total property and equipment, net: Liberty Global Group 21,891.4 20,840.5 LiLAC Group 895.9 843.5 Total $ 22,787.3 $ 21,684.0 |
Schedule of Changes in Carrying Amount of Goodwill | Changes in the carrying amount of our goodwill during the three months ended March 31, 2016 are set forth below: January 1, 2016 Acquisitions and related adjustments Foreign currency translation adjustments and other March 31, in millions Liberty Global Group: European Operations Division: U.K./Ireland $ 8,790.7 $ 0.2 $ (184.5 ) $ 8,606.4 The Netherlands 7,851.3 — 372.2 8,223.5 Germany 3,104.4 — 147.1 3,251.5 Belgium 1,777.1 353.5 85.8 2,216.4 Switzerland/Austria 3,500.4 — 152.2 3,652.6 Total Western Europe 25,023.9 353.7 572.8 25,950.4 Central and Eastern Europe 1,186.9 0.1 61.0 1,248.0 Total European Operations Division 26,210.8 353.8 633.8 27,198.4 Corporate and other 34.0 — — 34.0 Total Liberty Global Group 26,244.8 353.8 633.8 27,232.4 LiLAC Group: LiLAC Division: Chile 377.0 — 22.4 399.4 Puerto Rico 277.7 — — 277.7 Total LiLAC Division 654.7 — 22.4 677.1 Corporate and other (a) 120.9 — — 120.9 Total LiLAC Group 775.6 — 22.4 798.0 Total $ 27,020.4 $ 353.8 $ 656.2 $ 28,030.4 _______________ (a) Represents enterprise-level goodwill that is allocated to our Puerto Rico segment for purposes of our impairment tests. |
Schedule of Intangible Assets Subject to Amortization, Net | The details of our intangible assets subject to amortization are set forth below: March 31, 2016 December 31, 2015 Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount in millions Customer relationships: Liberty Global Group $ 10,649.3 $ (3,791.1 ) $ 6,858.2 $ 10,285.3 $ (3,410.7 ) $ 6,874.6 LiLAC Group 149.0 (35.5 ) 113.5 149.0 (31.7 ) 117.3 Total 10,798.3 (3,826.6 ) 6,971.7 10,434.3 (3,442.4 ) 6,991.9 Other: Liberty Global Group 517.7 (119.8 ) 397.9 205.3 (104.8 ) 100.5 LiLAC Group 0.2 (0.1 ) 0.1 0.2 (0.1 ) 0.1 Total 517.9 (119.9 ) 398.0 205.5 (104.9 ) 100.6 Total intangible assets subject to amortization, net: Liberty Global Group 11,167.0 (3,910.9 ) 7,256.1 10,490.6 (3,515.5 ) 6,975.1 LiLAC Group 149.2 (35.6 ) 113.6 149.2 (31.8 ) 117.4 Total $ 11,316.2 $ (3,946.5 ) $ 7,369.7 $ 10,639.8 $ (3,547.3 ) $ 7,092.5 |
Debt and Capital Lease Obliga27
Debt and Capital Lease Obligations (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Debt and Capital Lease Obligations [Abstract] | |
Schedule of Borrowings Levels | The amounts presented below assume no changes from March 31, 2016 borrowing levels and are based on the applicable covenant and other limitations in effect within each borrowing group at March 31, 2016 , both before and after considering the impact of the completion of the March 31, 2016 compliance requirements. Limitation on availability March 31, 2016 Upon completion of relevant March 31, 2016 compliance reporting requirements Borrowing currency U.S. $ equivalent Borrowing currency U.S. $ equivalent in millions Limitation on availability to be borrowed under: Ziggo Credit Facilities € 701.6 $ 798.5 € 438.1 $ 498.6 UPC Broadband Holding Bank Facility € 858.3 $ 976.8 € 685.3 $ 779.9 Limitation on availability to be loaned or distributed by: Ziggo Group Holding € 346.2 $ 394.0 € 95.2 $ 108.3 Unitymedia € 230.1 $ 261.9 € 222.3 $ 253.0 |
Schedule of Capital Lease Obligations | The U.S. dollar equivalents of our consolidated capital lease obligations are as follows: March 31, 2016 December 31, 2015 in millions Liberty Global Group: Unitymedia $ 729.8 $ 703.1 Telenet 394.6 371.1 Virgin Media 147.4 159.5 Other subsidiaries 91.7 88.2 Total Liberty Global Group capital lease obligations 1,363.5 1,321.9 LiLAC Group: Liberty Puerto Rico 0.5 0.6 VTR 0.2 0.3 Total LiLAC Group capital lease obligations 0.7 0.9 Total capital lease obligations $ 1,364.2 $ 1,322.8 |
Schedule of Debt | The U.S. dollar equivalents of the components of our consolidated third-party debt and capital lease obligations are as follows: March 31, 2016 Principal amount Weighted average interest rate (a) Unused borrowing capacity (b) Estimated fair value (c) Borrowing currency U.S. $ equivalent March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 in millions Liberty Global Group: VM Notes 5.61 % — $ — $ 10,621.4 $ 10,594.1 $ 10,445.0 $ 10,551.5 VM Credit Facility (d) 3.61 % (e) 431.0 3,820.4 3,413.7 3,876.0 3,471.1 Ziggo Credit Facilities (f) 3.64 % € 800.0 910.4 5,253.9 5,161.0 5,296.8 5,272.0 Ziggo SPE Notes 4.46 % — — 1,735.3 1,582.7 1,765.7 1,703.9 Ziggo Notes 6.82 % — — 1,008.2 955.1 927.3 885.4 Unitymedia Notes 4.99 % — — 8,026.6 7,631.6 7,812.2 7,682.0 Unitymedia Revolving Credit Facilities — € 500.0 569.0 — — — — UPCB SPE Notes 5.80 % — — 3,263.4 3,131.7 3,172.9 3,142.0 UPC Holding Senior Notes 6.59 % — — 1,681.5 1,601.4 1,560.0 1,491.1 UPC Broadband Holding Bank Facility 3.25 % € 990.1 1,126.8 1,297.0 1,284.3 1,305.0 1,305.0 Telenet SPE Notes 5.49 % — — 2,274.1 2,155.8 2,196.5 2,097.2 Telenet Credit Facility (g) 3.29 % € 164.0 186.6 2,875.2 1,443.0 2,929.5 1,474.5 Vendor financing (h) 3.28 % — — 1,690.6 1,688.9 1,690.6 1,688.9 ITV Collar Loan 1.35 % — — 1,528.6 1,547.9 1,558.0 1,594.7 Sumitomo Collar Loan 1.88 % — — 859.0 805.6 841.5 787.6 Other 7.44 % — — 394.8 395.0 357.9 291.8 Total Liberty Global Group 4.62 % 3,223.8 46,330.0 43,391.8 45,734.9 43,438.7 LiLAC Group: VTR Finance Senior Secured Notes 6.88 % — — 1,371.1 1,301.1 1,400.0 1,400.0 VTR Credit Facility — (i) 192.9 — — — — Liberty Puerto Rico Bank Facility 5.11 % $ 40.0 40.0 899.2 913.0 942.5 942.5 Total LiLAC Group 6.17 % 232.9 2,270.3 2,214.1 2,342.5 2,342.5 Total principal amount of debt before unamortized premiums, discounts and deferred financing costs 4.70 % $ 3,456.7 $ 48,600.3 $ 45,605.9 $ 48,077.4 $ 45,781.2 March 31, 2016 December 31, 2015 in millions Total principal amount of debt before unamortized premiums, discounts and deferred financing costs $ 48,077.4 $ 45,781.2 Unamortized premiums (discounts), net (37.9 ) (46.7 ) Unamortized deferred financing costs (331.6 ) (308.2 ) Total carrying amount of debt 47,707.9 45,426.3 Capital lease obligations (j) 1,364.2 1,322.8 Total debt and capital lease obligations 49,072.1 46,749.1 Current maturities of debt and capital lease obligations (3,240.3 ) (2,537.9 ) Long-term debt and capital lease obligations $ 45,831.8 $ 44,211.2 _______________ (a) Represents the weighted average interest rate in effect at March 31, 2016 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 4.8% (including 4.7% for the Liberty Global Group and 6.0% for the LiLAC Group ) at March 31, 2016 . For information regarding our derivative instruments, see note 4 . (b) Unused borrowing capacity represents the maximum availability under the applicable facility at March 31, 2016 without regard to covenant compliance calculations or other conditions precedent to borrowing. At March 31, 2016 , based on the applicable leverage covenants, the full amount of unused borrowing capacity was available to be borrowed under each of the respective subsidiary facilities, and there were no restrictions on the respective subsidiary's ability to make loans or distributions from this availability to other Liberty Global subsidiaries or Liberty Global , except as shown in the table below. In the following table, for each facility that is subject to limitations on borrowing availability, we present (i) the actual borrowing availability under the respective facility and (ii) for each subsidiary where the ability to make loans or distributions from this availability is limited, the amount that can be loaned or distributed to other Liberty Global subsidiaries or to Liberty Global . The amounts presented below assume no changes from March 31, 2016 borrowing levels and are based on the applicable covenant and other limitations in effect within each borrowing group at March 31, 2016 , both before and after considering the impact of the completion of the March 31, 2016 compliance requirements. Limitation on availability March 31, 2016 Upon completion of relevant March 31, 2016 compliance reporting requirements Borrowing currency U.S. $ equivalent Borrowing currency U.S. $ equivalent in millions Limitation on availability to be borrowed under: Ziggo Credit Facilities € 701.6 $ 798.5 € 438.1 $ 498.6 UPC Broadband Holding Bank Facility € 858.3 $ 976.8 € 685.3 $ 779.9 Limitation on availability to be loaned or distributed by: Ziggo Group Holding € 346.2 $ 394.0 € 95.2 $ 108.3 Unitymedia € 230.1 $ 261.9 € 222.3 $ 253.0 (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) On March 31, 2016, VMIH entered into (i) a €75.0 million ( $85.4 million ) term loan facility, which matures on January 15, 2022, bears interest at a rate of EURIBOR plus 3.0% and has a EURIBOR floor of 0.75% and (ii) a €25.0 million ( $28.5 million ) term loan facility, which matures on March 31, 2021, bears interest at a rate of EURIBOR plus 3.75% and has a EURIBOR floor of 0.0% . (e) Unused borrowing capacity under the VM Credit Facility relates to a multi-currency revolving facility (the VM Revolving Facility ) with maximum borrowing capacity equivalent to £675.0 million ( $971.6 million ). The outstanding balance at March 31, 2016 was €475.0 million ( $540.6 million ). (f) On March 31, 2016, certain subsidiaries of Ziggo Group Holding purchased from a third-party lender certain loans receivable aggregating €100.0 million ( $113.9 million ) that were owed by (i) another subsidiary of Ziggo Group Holding and (ii) Ziggo Secured Finance B.V. ( Ziggo Secured Finance ). Ziggo Secured Finance , which is 100% owned by a third-party, is a special purpose financing entity that was created for the primary purpose of offering certain senior secured debt. Ziggo Secured Finance is consolidated by Ziggo Group Holding and Liberty Global . (g) In connection with the closing of the BASE Acquisition , Telenet borrowed (i) the full €200.0 million ( $227.6 million ) amount under Telenet Facility Z, a revolving credit facility that bears interest at EURIBOR plus a margin of 2.25% , (ii) the full €800.0 million ( $910.4 million ) amount under Telenet Facility AA, a term loan facility that bears interest at EURIBOR plus a margin of 3.5% and (iii) €217.0 million ( $247.0 million ) under Telenet Facility X, a revolving credit facility that bears interest at EURIBOR plus a margin of 2.75% . For information concerning the BASE Acquisition , see note 3 . (h) Represents amounts owed pursuant to interest-bearing vendor financing arrangements that are used to finance certain of our property and equipment additions, and to a lesser extent, certain of our operating expenses. These obligations are generally due within one year . At March 31, 2016 and December 31, 2015 , the amounts owed pursuant to these arrangements include $191.3 million and $189.0 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. (i) The VTR Credit Facility is the senior secured credit facility of VTR and certain of its subsidiaries and comprises a $160.0 million U.S. dollar facility (the VTR Dollar Credit Facility ) and a CLP 22.0 billion ( $32.9 million ) Chilean peso facility (the VTR Peso Credit Facility ), each of which were undrawn at March 31, 2016 . (j) The U.S. dollar equivalents of our consolidated capital lease obligations are as follows: March 31, 2016 December 31, 2015 in millions Liberty Global Group: Unitymedia $ 729.8 $ 703.1 Telenet 394.6 371.1 Virgin Media 147.4 159.5 Other subsidiaries 91.7 88.2 Total Liberty Global Group capital lease obligations 1,363.5 1,321.9 LiLAC Group: Liberty Puerto Rico 0.5 0.6 VTR 0.2 0.3 Total LiLAC Group capital lease obligations 0.7 0.9 Total capital lease obligations $ 1,364.2 $ 1,322.8 |
Schedule of Maturities of Long-Term Debt | Maturities of Debt and Capital Lease Obligations Maturities of our debt and capital lease obligations as of March 31, 2016 are presented below for the named entity and its subsidiaries, unless otherwise noted. Amounts presented below represent U.S. dollar equivalents based on March 31, 2016 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: 2016 (remainder of year) $ 1,217.1 $ 182.1 $ 139.3 $ 524.0 $ 483.0 $ 380.6 $ 2,926.1 $ — $ — $ — $ 2,926.1 2017 6.7 — 11.5 135.0 8.4 535.0 696.6 — — — 696.6 2018 0.5 — — — 8.4 1,251.0 1,259.9 — — — 1,259.9 2019 0.6 — — — 19.2 346.0 365.8 — — — 365.8 2020 0.6 81.6 — — 12.7 27.6 122.5 — — — 122.5 2021 3,706.4 755.9 — 1,980.0 807.9 — 7,250.2 — — — 7,250.2 Thereafter 10,128.4 7,152.3 7,812.2 4,057.9 3,935.4 27.6 33,113.8 1,400.0 942.5 2,342.5 35,456.3 Total debt maturities 15,060.3 8,171.9 7,963.0 6,696.9 5,275.0 2,567.8 45,734.9 1,400.0 942.5 2,342.5 48,077.4 Unamortized premium (discount) 15.6 27.8 — (8.5 ) (2.7 ) (61.7 ) (29.5 ) — (8.4 ) (8.4 ) (37.9 ) Unamortized deferred financing costs (120.5 ) (30.2 ) (57.1 ) (36.7 ) (52.0 ) (1.2 ) (297.7 ) (25.2 ) (8.7 ) (33.9 ) (331.6 ) Total debt $ 14,955.4 $ 8,169.5 $ 7,905.9 $ 6,651.7 $ 5,220.3 $ 2,504.9 $ 45,407.7 $ 1,374.8 $ 925.4 $ 2,300.2 $ 47,707.9 Current portion (d) $ 1,224.1 $ 182.1 $ 150.8 $ 659.0 $ 483.0 $ 385.2 $ 3,084.2 $ — $ — $ — $ 3,084.2 Noncurrent portion $ 13,731.3 $ 7,987.4 $ 7,755.1 $ 5,992.7 $ 4,737.3 $ 2,119.7 $ 42,323.5 $ 1,374.8 $ 925.4 $ 2,300.2 $ 44,623.7 _______________ (a) Amounts include certain senior and senior secured notes issued by special purpose financing entities that are consolidated by Ziggo Group Holding and Liberty Global . (b) Amounts include certain senior and senior secured notes issued by special purpose financing entities that are consolidated by UPC Holding and Liberty Global . (c) Amounts include certain senior and senior secured notes issued by special purpose financing entities that are consolidated by Telenet and Liberty Global . (d) The outstanding principal amounts of our subsidiaries’ revolving credit facilities are included in our current debt maturities. |
Schedule of Capital Lease Obligations Maturities | 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: 2016 (remainder of year) $ 62.6 $ 54.1 $ 57.6 $ 23.8 $ 198.1 $ 0.6 $ 198.7 2017 83.5 64.5 37.6 17.1 202.7 0.2 202.9 2018 83.5 62.6 14.0 14.1 174.2 — 174.2 2019 83.5 52.6 6.6 9.0 151.7 — 151.7 2020 83.5 49.7 4.5 6.1 143.8 — 143.8 2021 83.5 47.8 4.2 5.8 141.3 — 141.3 Thereafter 741.3 194.8 197.0 40.1 1,173.2 — 1,173.2 Total principal and interest payments 1,221.4 526.1 321.5 116.0 2,185.0 0.8 2,185.8 Amounts representing interest (491.6 ) (131.5 ) (174.1 ) (24.3 ) (821.5 ) (0.1 ) (821.6 ) Present value of net minimum lease payments $ 729.8 $ 394.6 $ 147.4 $ 91.7 $ 1,363.5 $ 0.7 $ 1,364.2 Current portion $ 28.1 $ 43.1 $ 63.6 $ 20.6 $ 155.4 $ 0.7 $ 156.1 Noncurrent portion $ 701.7 $ 351.5 $ 83.8 $ 71.1 $ 1,208.1 $ — $ 1,208.1 |
Income Taxes (Tables)
Income Taxes (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Accrued Income Taxes [Abstract] | |
Income Tax Benefit (Expense) Reconciliation Table | Income tax benefit attributable to our loss before income taxes differs from the amounts computed using the applicable income tax rate as a result of the following factors: Three months ended March 31, 2016 2015 in millions Computed “expected” tax benefit (a) $ 84.3 $ 121.4 Change in valuation allowances (b): Decrease (233.6 ) (226.0 ) Increase 133.7 1.0 Tax effect of intercompany financing 38.1 38.2 International rate differences (b) (c): Increase 35.2 91.3 Decrease (6.6 ) (12.4 ) Non-deductible or non-taxable foreign currency exchange results (b): Increase 18.6 69.5 Decrease (1.3 ) (8.7 ) Recognition of previously unrecognized tax benefits 15.0 8.9 Basis and other differences in the treatment of items associated with investments in subsidiaries and affiliates (b): Decrease (23.7 ) (1.0 ) Increase 11.3 14.5 Non-deductible or non-taxable interest and other expenses (b): Decrease (22.1 ) (33.7 ) Increase 9.9 11.2 Other, net (9.9 ) 3.7 Total income tax benefit $ 48.9 $ 77.9 _______________ (a) The statutory or “expected” tax rates are the U.K. rates of 20.0% and 20.25% for the three months ended March 31, 2016 and 2015 , respectively. During 2015, the U.K. enacted legislation that will change the corporate income tax rate from the current rate of 20.0% to 19.0% in April 2017 and 18.0% in April 2020. Substantially all of the impact of these rate changes on our deferred tax balances was recorded in the fourth quarter of 2015 when the change in law was enacted. (b) Country jurisdictions giving rise to increases are grouped together and shown separately from country jurisdictions giving rise to decreases. (c) Amounts reflect adjustments (either an increase or a decrease) to “expected” tax benefit for statutory rates in jurisdictions in which we operate outside of the U.K. |
Equity (Tables)
Equity (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Equity [Abstract] | |
Schedule of changes in share capital | A summary of the changes in our share capital during the three months ended March 31, 2016 is set forth in the table below: Liberty Global Shares LiLAC Shares Class A Class B Class C Class A Class B Class C Balance at January 1, 2016 $ 2.5 $ 0.1 $ 5.9 $ 0.1 $ — $ 0.3 Liberty Global call option contracts — — (0.1 ) — — — Balance at March 31, 2016 $ 2.5 $ 0.1 $ 5.8 $ 0.1 $ — $ 0.3 |
Share-based Compensation (Table
Share-based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of stock-based compensation | A summary of the aggregate share-based compensation expense that is included in our operating and SG&A expenses is set forth below: Three months ended March 31, 2016 2015 in millions Liberty Global: Performance-based incentive awards (a) $ 41.1 $ 42.1 Other share-based incentive awards 25.4 25.4 Total Liberty Global 66.5 67.5 Telenet share-based incentive awards 1.0 3.2 Other 1.5 0.7 Total $ 69.0 $ 71.4 Included in: Operating expense: Liberty Global Group $ 0.5 $ 0.7 LiLAC Group 0.2 — Total operating expense 0.7 0.7 SG&A expense: Liberty Global Group 66.7 71.8 LiLAC Group 1.6 (1.1 ) Total SG&A expense 68.3 70.7 Total $ 69.0 $ 71.4 _______________ (a) Includes share-based compensation expense related to (i) Liberty Global performance-based restricted share units ( PSU s ), including amounts resulting from the 2016 PSUs , as described and defined below, (ii) a challenge performance award plan for certain executive officers and key employees (the Challenge Performance Awards ) and (iii) the May 2014 grant of performance grant units ( PGUs ) to our Chief Executive Officer. The Challenge Performance Awards include performance-based share appreciation rights ( PSAR s ) and PSU s. |
Summary of stock compensation not recognized | The following table provides certain information related to share-based compensation not yet recognized for share-based incentive awards related to Liberty Global ordinary shares as of March 31, 2016 : Non-performance-based awards (a) Performance- based awards (a) (b) Total compensation expense not yet recognized (in millions) $ 165.5 $ 245.4 Weighted average period remaining for expense recognition (in years) 2.5 2.7 _______________ (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, including $191.2 million related to the 2016 PSUs , and (iii) the PGUs . |
Restructuring Liability (Tables
Restructuring Liability (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Restructuring and Related Activities [Abstract] | |
Summary of changes in restructuring liability | A summary of the changes in our restructuring liability during the three months ended March 31, 2016 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, 2016 $ 68.5 $ 7.3 $ 70.7 $ 146.5 Cash paid (17.1 ) (0.6 ) (28.5 ) (46.2 ) Restructuring charges 15.7 0.3 1.8 17.8 Foreign currency translation adjustments and other 3.1 (0.1 ) 4.0 7.0 Restructuring liability as of March 31, 2016 $ 70.2 $ 6.9 $ 48.0 $ 125.1 Current portion $ 65.3 $ 1.3 $ 10.8 $ 77.4 Noncurrent portion 4.9 5.6 37.2 47.7 Total $ 70.2 $ 6.9 $ 48.0 $ 125.1 |
Earnings or Loss per Share (Tab
Earnings or Loss per Share (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Schedule of Details of Net Earnings (Loss) | The details of our net loss attributable to holders of Liberty Global Shares , LiLAC Shares and Old Liberty Global Shares are set forth below: Three months ended March 31, 2016 2015 in millions Net loss attributable to holders of: Liberty Global Shares $ (330.6 ) $ — LiLAC Shares (38.5 ) — Old Liberty Global Shares — (537.5 ) Net loss attributable to Liberty Global shareholders $ (369.1 ) $ (537.5 ) |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Unrecorded Purchase Obligation | The following table sets forth the U.S. dollar equivalents of such commitments as of March 31, 2016 : Payments due during: Remainder 2017 2018 2019 2020 2021 Thereafter Total in millions Programming commitments $ 820.7 $ 971.5 $ 780.6 $ 299.3 $ 11.3 $ 7.1 $ 0.8 $ 2,891.3 Network and connectivity commitments 712.8 258.3 139.7 98.1 63.1 54.6 908.8 2,235.4 Purchase commitments 1,010.3 237.7 124.0 53.9 44.6 15.1 62.3 1,547.9 Operating leases 128.7 139.5 117.1 90.4 68.9 56.1 242.7 843.4 Other commitments 91.8 50.0 32.4 26.9 13.3 14.4 8.5 237.3 Total (a) $ 2,764.3 $ 1,657.0 $ 1,193.8 $ 568.6 $ 201.2 $ 147.3 $ 1,223.1 $ 7,755.3 _______________ (a) The commitments included in this table do not reflect any liabilities that are included in our March 31, 2016 condensed consolidated balance sheet. |
Segment Reporting (Tables)
Segment Reporting (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Segment Reporting, Measurement Disclosures [Abstract] | |
Revenue and Operating Cash Flow by Segment | Revenue Three months ended 2016 2015 in millions Liberty Global Group: European Operations Division: U.K./Ireland $ 1,686.5 $ 1,711.4 The Netherlands 669.8 707.4 Germany 617.1 597.9 Belgium (a) 610.2 502.7 Switzerland/Austria 433.4 439.3 Total Western Europe 4,017.0 3,958.7 Central and Eastern Europe 266.1 268.2 Central and other (2.4 ) (2.8 ) Total European Operations Division 4,280.7 4,224.1 Corporate and other 14.6 12.8 Intersegment eliminations (b) (11.2 ) (7.8 ) Total Liberty Global Group 4,284.1 4,229.1 LiLAC Group: Chile 200.0 208.8 Puerto Rico (c) 103.9 79.0 Total LiLAC Group 303.9 287.8 Total $ 4,588.0 $ 4,516.9 _______________ (a) The amount presented for the 2016 period includes the post-acquisition revenue of BASE from February 12, 2016 through March 31, 2016 . (b) Amounts are primarily related to transactions between our European Operations Division and our programming operations. (c) The amount presented for the 2015 period excludes the revenue of Choice , which was acquired on June 3, 2015 . Adjusted OIBDA Three months ended 2016 2015 in millions Liberty Global Group: European Operations Division: U.K./Ireland $ 744.6 $ 763.3 The Netherlands 367.9 367.9 Germany 379.4 364.0 Belgium (a) 269.8 247.0 Switzerland/Austria 258.1 248.8 Total Western Europe 2,019.8 1,991.0 Central and Eastern Europe 110.9 118.1 Central and other (84.3 ) (67.9 ) Total European Operations Division 2,046.4 2,041.2 Corporate and other (52.8 ) (52.1 ) Total Liberty Global Group 1,993.6 1,989.1 LiLAC Group: LiLAC Division: Chile 76.3 76.0 Puerto Rico (b) 46.8 33.5 Total LiLAC Division 123.1 109.5 Corporate and other (1.2 ) (1.3 ) Total LiLAC Group 121.9 108.2 Total $ 2,115.5 $ 2,097.3 _______________ (a) The amount presented for the 2016 period includes the post-acquisition Adjusted OIBDA of BASE from February 12, 2016 through March 31, 2016 . (b) The amount presented for the 2015 period excludes the 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 to loss before income taxes: Three months ended 2016 2015 in millions Total segment Adjusted OIBDA $ 2,115.5 $ 2,097.3 Share-based compensation expense (69.0 ) (71.4 ) Depreciation and amortization (1,435.5 ) (1,451.4 ) Impairment, restructuring and other operating items, net (24.4 ) (17.0 ) Operating income 586.6 557.5 Interest expense (619.3 ) (615.9 ) Realized and unrealized gains (losses) on derivative instruments, net (508.7 ) 618.5 Foreign currency transaction gains (losses), net 339.0 (1,035.6 ) Realized and unrealized gains (losses) due to changes in fair values of certain investments, net (268.2 ) 151.4 Losses on debt modification and extinguishment, net (4.3 ) (274.5 ) Other income (expense), net 53.3 (1.0 ) Loss before income taxes $ (421.6 ) $ (599.6 ) |
Schedule of Reporting Capital Expenditures of Reportable Segments | Property and Equipment Additions of our Reportable Segments The property and equipment additions of our reportable segments (including capital additions financed under vendor financing or capital lease arrangements) are presented below and reconciled to the capital expenditure amounts included in our condensed consolidated statements of cash flows. For additional information concerning capital additions financed under vendor financing and capital lease arrangements, see note 7 . Three months ended 2016 2015 in millions Liberty Global Group: European Operations Division: U.K./Ireland $ 368.5 $ 347.3 The Netherlands 140.1 120.8 Germany 127.0 142.9 Belgium (a) 98.9 63.2 Switzerland/Austria 58.4 56.6 Total Western Europe 792.9 730.8 Central and Eastern Europe 59.9 48.6 Central and other 68.6 50.3 Total European Operations Division 921.4 829.7 Corporate and other 4.1 39.1 Total Liberty Global Group 925.5 868.8 LiLAC Group: Chile 52.4 40.4 Puerto Rico (b) 19.1 15.7 Total LiLAC Group 71.5 56.1 Total property and equipment additions 997.0 924.9 Assets acquired under capital-related vendor financing arrangements (438.9 ) (295.0 ) Assets acquired under capital leases (27.9 ) (62.0 ) Changes in current liabilities related to capital expenditures 106.9 93.3 Total capital expenditures $ 637.1 $ 661.2 _______________ (a) The amount presented for the 2016 period includes the post-acquisition property and equipment additions of BASE from February 12, 2016 through March 31, 2016 . (b) The amount presented for the 2015 period excludes the property and equipment additions of Choice , which was acquired on June 3, 2015 . |
Revenue by Major Category | Revenue by Major Category Our revenue by major category is set forth below: Three months ended 2016 2015 in millions Subscription revenue (a): Video $ 1,567.7 $ 1,605.8 Broadband internet 1,280.9 1,232.9 Fixed-line telephony 752.1 796.2 Cable subscription revenue 3,600.7 3,634.9 Mobile (b) 293.2 251.7 Total subscription revenue 3,893.9 3,886.6 B2B revenue (c) 387.8 377.9 Other revenue (b) (d) 306.3 252.4 Total $ 4,588.0 $ 4,516.9 _______________ (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 $65.0 million and $54.4 million during the three months ended March 31, 2016 and 2015 , 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 or home office ( SOHO ) subscribers. SOHO subscribers pay a premium price to receive expanded 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 is included in cable subscription revenue, aggregated $86.8 million and $62.6 million during the three months ended March 31, 2016 and 2015 , respectively. (d) Other revenue includes, among other items, interconnect, mobile handset sales, channel carriage fee and installation revenue . |
Geographic Segments | Geographic Segments The revenue of our geographic segments is set forth below: Three months ended 2016 2015 in millions Liberty Global Group: European Operations Division: U.K. $ 1,578.5 $ 1,612.0 The Netherlands 669.8 707.4 Germany 617.1 597.9 Belgium (a) 610.2 502.7 Switzerland 339.3 346.8 Ireland 108.0 99.4 Poland 96.6 101.0 Austria 94.1 92.5 Hungary 65.4 65.0 The Czech Republic 44.2 44.4 Romania 41.4 38.9 Slovakia 14.7 15.2 Other 1.4 0.9 Total European Operations Division 4,280.7 4,224.1 Other, including intersegment eliminations 3.4 5.0 Total Liberty Global Group 4,284.1 4,229.1 LiLAC Group: Chile 200.0 208.8 Puerto Rico (b) 103.9 79.0 Total LiLAC Group 303.9 287.8 Total $ 4,588.0 $ 4,516.9 _______________ (a) The amount presented for the 2016 period includes the post-acquisition revenue of BASE from February 12, 2016 through March 31, 2016 . (b) The amount presented for the 2015 period excludes the revenue of Choice , which was acquired on June 3, 2015 . |
Subsequent Events (Tables)
Subsequent Events (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Subsequent Events [Abstract] | |
Debt Instrument Redemption | Virgin Media Secured Finance may redeem some or all of the August 2026 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, as set forth below: Redemption price 12-month period commencing August 15: 2021 102.750% 2022 101.375% 2023 100.688% 2024 and thereafter 100.000% |
Basis of Presentation (Narrativ
Basis of Presentation (Narrative) (Details) - country | 3 Months Ended | |
Mar. 31, 2016 | Sep. 30, 2015 | |
Basis of Presentation [Line Items] | ||
Number of countries in which entity provides services (in countries) | 14 | |
Puerto Rico [Member] | ||
Basis of Presentation [Line Items] | ||
Percentage ownership in subsidiary | 60.00% | |
Video, Broadband Internet and FIxed-Line Telephony [Member] | Europe [Member] | ||
Basis of Presentation [Line Items] | ||
Number of countries in which entity provides services (in countries) | 7 | |
Mobile Services [Member] | Europe [Member] | ||
Basis of Presentation [Line Items] | ||
Number of countries in which entity provides services (in countries) | 4 | |
Telenet [Member] | ||
Basis of Presentation [Line Items] | ||
Percentage ownership in subsidiary | 57.10% |
Acquisition and Joint Venture37
Acquisition and Joint Venture Transactions (Narrative) (Details) $ / shares in Units, € in Millions, $ in Millions | Feb. 11, 2016EUR (€) | Feb. 11, 2016USD ($) | Nov. 16, 2015£ / sharesshares | Jun. 03, 2015USD ($) | Mar. 31, 2016EUR (€) | Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2015USD ($) | Feb. 15, 2016EUR (€) | Feb. 15, 2016USD ($) | Feb. 04, 2016 | Nov. 16, 2015$ / shares |
Business Acquisition [Line Items] | ||||||||||||
Revenue | $ 4,588 | $ 4,516.9 | ||||||||||
Net loss | 372.7 | 521.7 | ||||||||||
Vodafone Joint Venture [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Ownership interest | 50.00% | 50.00% | ||||||||||
Dutch Joint Venture [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Ownership interest | 50.00% | 50.00% | ||||||||||
Equalization payment expected | € 1,000 | $ 1,100 | ||||||||||
Dutch Joint Venture [Member] | Minimum [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Net leverage ratio required | 4.5 | 4.5 | ||||||||||
Dutch Joint Venture [Member] | Maximum [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Net leverage ratio required | 5 | 5 | ||||||||||
Viking Co NV [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Ownership percentage by parent | 50.00% | |||||||||||
Cable & Wireless Communications Plc [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Special dividend issuable at closing (in dollars per share) | (per share) | £ 0.03 | $ 0.04318410825 | ||||||||||
Base Company NV [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Direct acquisition costs | € | € 11.2 | € 1.2 | ||||||||||
Revenue | 90 | |||||||||||
Net loss | 3 | |||||||||||
Base Company NV [Member] | Telenet [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Liabilities incurred | 1,000 | $ 1,100 | ||||||||||
Consideration transferred | € 1,321.9 | $ 1,497.7 | ||||||||||
Base Company NV [Member] | Mobile Spectrum [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Weighted average useful life of intangible assets | 11 years | 11 years | ||||||||||
Base Company NV [Member] | Trademarks [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Weighted average useful life of intangible assets | 20 years | 20 years | ||||||||||
Base Company NV [Member] | Customer Relationships [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Weighted average useful life of intangible assets | 6 years | 6 years | ||||||||||
Choice Acquisition [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Weighted average useful life of intangible assets | 10 years | |||||||||||
Direct acquisition costs | $ 8.5 | |||||||||||
Choice Acquisition [Member] | Parent Company [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Ownership percentage by parent | 60.00% | |||||||||||
Consideration transferred | $ 10.5 | |||||||||||
Choice Acquisition [Member] | Searchlight [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Expected consideration transfered | $ 276.4 | |||||||||||
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 | |||||||||||
Liberty Global Group [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Revenue | 4,284.1 | 4,229.1 | ||||||||||
Liberty Global Group [Member] | Dutch Joint Venture [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Ownership interest | 50.00% | 50.00% | ||||||||||
LiLAC Group [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Ownership percentage by parent | 67.40% | 67.40% | ||||||||||
Revenue | $ 303.9 | $ 287.8 | ||||||||||
Common Class A [Member] | Liberty Global Group [Member] | Cable & Wireless Communications Plc [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Equity interest (in shares) | shares | 31,651,616 | |||||||||||
Common Class A [Member] | LiLAC Group [Member] | Cable & Wireless Communications Plc [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Equity interest (in shares) | shares | 3,648,524 | |||||||||||
Common Class C [Member] | Liberty Global Group [Member] | Cable & Wireless Communications Plc [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Equity interest (in shares) | shares | 77,488,978 | |||||||||||
Common Class C [Member] | LiLAC Group [Member] | Cable & Wireless Communications Plc [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Equity interest (in shares) | shares | 8,939,328 |
Acquisition and Joint Venture38
Acquisition and Joint Venture Transactions (Schedule of Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Millions | Mar. 31, 2016 | Feb. 11, 2016 | Dec. 31, 2015 | Jun. 03, 2015 |
Business Acquisition [Line Items] | ||||
Goodwill | $ 28,030.4 | $ 27,020.4 | ||
Base Company NV [Member] | ||||
Business Acquisition [Line Items] | ||||
Cash and cash equivalents | $ 160.1 | |||
Other current assets | 170.3 | |||
Property and equipment, net | 786.4 | |||
Goodwill | 353.5 | |||
Other assets, net | 11.4 | |||
Other accrued and current liabilities | (326.3) | |||
Other long-term liabilities | (92.5) | |||
Total purchase price | 1,497.7 | |||
Choice Acquisition [Member] | ||||
Business Acquisition [Line Items] | ||||
Cash and cash equivalents | $ 3.6 | |||
Other current assets | 7.8 | |||
Property and equipment, net | 79.8 | |||
Goodwill | 51.6 | |||
Intangible assets subject to amortization, net | 59.1 | |||
Franchise rights | 147.8 | |||
Other assets, net | 0.3 | |||
Other accrued and current liabilities | (13.2) | |||
Non-current deferred tax liabilities | (60.4) | |||
Total purchase price | $ 276.4 | |||
Mobile Spectrum [Member] | Base Company NV [Member] | ||||
Business Acquisition [Line Items] | ||||
Intangible assets subject to amortization, net | 261 | |||
Customer Relationships [Member] | Base Company NV [Member] | ||||
Business Acquisition [Line Items] | ||||
Intangible assets subject to amortization, net | 133.1 | |||
Trademarks [Member] | Base Company NV [Member] | ||||
Business Acquisition [Line Items] | ||||
Intangible assets subject to amortization, net | $ 40.7 |
Acquisition and Joint Venture39
Acquisition and Joint Venture Transactions (Pro Forma Information) (Details) - Choice and BASE Acquisitions [Member] - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Business Acquisition [Line Items] | ||
Revenue: | $ 4,662.4 | $ 4,708.6 |
Net loss attributable to Liberty Global shareholders: | (372.7) | (545) |
Liberty Global Group [Member] | ||
Business Acquisition [Line Items] | ||
Revenue: | 4,358.5 | 4,398.7 |
Net loss attributable to Liberty Global shareholders: | $ (334.2) | 0 |
Basic and diluted loss attributable to Liberty Global shareholders per share: | $ (0.40) | |
LiLAC Group [Member] | ||
Business Acquisition [Line Items] | ||
Revenue: | $ 303.9 | 309.9 |
Net loss attributable to Liberty Global shareholders: | $ (38.5) | 0 |
Basic and diluted loss attributable to Liberty Global shareholders per share: | $ (0.88) | |
Old Liberty Global [Member] | ||
Business Acquisition [Line Items] | ||
Net loss attributable to Liberty Global shareholders: | $ 0 | $ (545) |
Basic and diluted loss attributable to Liberty Global shareholders per share: | $ (0.61) |
Derivative Instruments (Narrati
Derivative Instruments (Narrative) (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Derivative [Line Items] | |||
Derivative assets | $ 2,476.1 | $ 2,506.1 | |
VM Convertible Senior Notes [Member] | |||
Derivative [Line Items] | |||
Interest rate | 6.50% | ||
Cross-currency and interest rate derivative contracts | |||
Derivative [Line Items] | |||
Valuation adjustment in asset cross currency and interest rate derivative contracts | $ 77.5 | 64 | |
Valuation adjustment in liability cross currency and interest rate derivative contracts | 123.9 | 86.5 | |
Gain (loss) in changes in the credit risk valuation adjustments associated with our cross-currency and interest rate derivative contracts | 21.4 | $ (16.9) | |
Derivative assets | $ 1,807.8 | $ 2,085.6 | |
Lionsgate Forward [Member] | |||
Derivative [Line Items] | |||
Number of common stock shares owned (in shares) | 2.5 | ||
Counterparty Credit Risk [Member] | |||
Derivative [Line Items] | |||
Derivative assets | $ 1,661.5 |
Derivative Instruments (Fair Va
Derivative Instruments (Fair Values of Derivative Assets and Liabilities) (Details) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Assets: | ||
Current | $ 515 | $ 421.9 |
Long-term | 1,961.1 | 2,084.2 |
Total | 2,476.1 | 2,506.1 |
Liabilities: | ||
Current | 647.8 | 346.3 |
Long-term | 1,421 | 1,248.3 |
Total | 2,068.8 | 1,594.6 |
Cross-currency and interest rate derivative contracts | ||
Assets: | ||
Current | 313.3 | 275.4 |
Long-term | 1,494.5 | 1,810.2 |
Total | 1,807.8 | 2,085.6 |
Liabilities: | ||
Current | 597.4 | 304.9 |
Long-term | 1,420 | 1,208.5 |
Total | 2,017.4 | 1,513.4 |
Equity-related derivative instruments | ||
Assets: | ||
Total | 663.4 | 408.5 |
Liabilities: | ||
Total | 37.2 | 74.4 |
Foreign currency forward contracts | ||
Assets: | ||
Current | 2 | 10.4 |
Long-term | 0 | 0 |
Total | 2 | 10.4 |
Liabilities: | ||
Current | 12.2 | 1.1 |
Long-term | 0.3 | 0 |
Total | 12.5 | 1.1 |
Other | ||
Assets: | ||
Total | 2.9 | 1.6 |
Liabilities: | ||
Total | 1.7 | 5.7 |
Liberty Global Group [Member] | ||
Assets: | ||
Current | 507.7 | 405.9 |
Long-term | 1,750.6 | 1,792.5 |
Total | 2,258.3 | 2,198.4 |
Liabilities: | ||
Current | 630.7 | 346.3 |
Long-term | 1,375 | 1,234.5 |
Total | 2,005.7 | 1,580.8 |
Liberty Global Group [Member] | Cross-currency and interest rate derivative contracts | ||
Assets: | ||
Current | 306.1 | 263.6 |
Long-term | 1,284 | 1,518.5 |
Total | 1,590.1 | 1,782.1 |
Liabilities: | ||
Current | 587.8 | 304.9 |
Long-term | 1,374.1 | 1,194.7 |
Total | 1,961.9 | 1,499.6 |
Liberty Global Group [Member] | Equity-related derivative instruments | ||
Assets: | ||
Current | 198.1 | 135.5 |
Long-term | 465.3 | 273 |
Total | 663.4 | 408.5 |
Liabilities: | ||
Current | 37.2 | 34.7 |
Long-term | 0 | 39.7 |
Total | 37.2 | 74.4 |
Liberty Global Group [Member] | Foreign currency forward contracts | ||
Assets: | ||
Current | 1.9 | 6.2 |
Long-term | 0 | 0 |
Total | 1.9 | 6.2 |
Liabilities: | ||
Current | 4.7 | 1.1 |
Long-term | 0.2 | 0 |
Total | 4.9 | 1.1 |
Liberty Global Group [Member] | Other | ||
Assets: | ||
Current | 1.6 | 0.6 |
Long-term | 1.3 | 1 |
Total | 2.9 | 1.6 |
Liabilities: | ||
Current | 1 | 5.6 |
Long-term | 0.7 | 0.1 |
Total | 1.7 | 5.7 |
LiLAC Group [Member] | ||
Assets: | ||
Current | 7.3 | 16 |
Long-term | 210.5 | 291.7 |
Total | 217.8 | 307.7 |
Liabilities: | ||
Current | 17.1 | 0 |
Long-term | 46 | 13.8 |
Total | 63.1 | 13.8 |
LiLAC Group [Member] | Cross-currency and interest rate derivative contracts | ||
Assets: | ||
Current | 7.2 | 11.8 |
Long-term | 210.5 | 291.7 |
Total | 217.7 | 303.5 |
Liabilities: | ||
Current | 9.6 | 0 |
Long-term | 45.9 | 13.8 |
Total | 55.5 | 13.8 |
LiLAC Group [Member] | Foreign currency forward contracts | ||
Assets: | ||
Current | 0.1 | 4.2 |
Long-term | 0 | 0 |
Total | 0.1 | 4.2 |
Liabilities: | ||
Current | 7.5 | 0 |
Long-term | 0.1 | 0 |
Total | $ 7.6 | $ 0 |
Derivative Instruments (Realize
Derivative Instruments (Realized and Unrealized Gains (Losses) on Derivatives) (Schedule and Footnotes) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Derivative [Line Items] | ||
Gain (loss) on derivative instruments, net | $ (508.7) | $ 618.5 |
Cross-currency and interest rate derivative contracts | ||
Derivative [Line Items] | ||
Gain (loss) on derivative instruments, net | (773) | 740.5 |
Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Gain (loss) on derivative instruments, net | (28.8) | (8.1) |
Liberty Global Group [Member] | ||
Derivative [Line Items] | ||
Gain (loss) on derivative instruments, net | (364) | 539.1 |
Liberty Global Group [Member] | Cross-currency and interest rate derivative contracts | ||
Derivative [Line Items] | ||
Gain (loss) on derivative instruments, net | (635.4) | 662.3 |
Liberty Global Group [Member] | Equity-related derivative instruments | ||
Derivative [Line Items] | ||
Gain (loss) on derivative instruments, net | 293.2 | (114.9) |
Liberty Global Group [Member] | ITV Collar [Member] | ||
Derivative [Line Items] | ||
Gain (loss) on derivative instruments, net | 205.4 | (105.4) |
Liberty Global Group [Member] | Sumitomo Collar [Member] | ||
Derivative [Line Items] | ||
Gain (loss) on derivative instruments, net | 68.7 | (10.1) |
Liberty Global Group [Member] | Lionsgate Forward [Member] | ||
Derivative [Line Items] | ||
Gain (loss) on derivative instruments, net | 18.7 | 0 |
Liberty Global Group [Member] | Other [Member] | ||
Derivative [Line Items] | ||
Gain (loss) on derivative instruments, net | 0.4 | 0.6 |
Liberty Global Group [Member] | Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Gain (loss) on derivative instruments, net | (21.7) | (9.3) |
Liberty Global Group [Member] | Other | ||
Derivative [Line Items] | ||
Gain (loss) on derivative instruments, net | (0.1) | 1 |
LiLAC Group [Member] | ||
Derivative [Line Items] | ||
Gain (loss) on derivative instruments, net | (144.7) | 79.4 |
LiLAC Group [Member] | Cross-currency and interest rate derivative contracts | ||
Derivative [Line Items] | ||
Gain (loss) on derivative instruments, net | (137.6) | 78.2 |
LiLAC Group [Member] | Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Gain (loss) on derivative instruments, net | $ (7.1) | $ 1.2 |
Derivative Instruments (Net Cas
Derivative Instruments (Net Cash Received (Paid) Related to Derivatives) (Schedule) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Derivative [Line Items] | ||
Operating activities | $ 17.2 | $ (137.8) |
Total | (14.8) | (621.7) |
Liberty Global Group [Member] | ||
Derivative [Line Items] | ||
Operating activities | 9.7 | (118.7) |
Investing activities | 0 | 2.6 |
Financing activities | (32) | (486.5) |
Total | (22.3) | (602.6) |
LiLAC Group [Member] | ||
Derivative [Line Items] | ||
Operating activities | 7.5 | (19.1) |
Total | $ 7.5 | $ (19.1) |
Derivative Instruments (Cross-c
Derivative Instruments (Cross-currency Swaps) (Schedule) (Details) € in Millions, £ in Millions, SFr in Millions, RON in Millions, PLN in Millions, HUF in Millions, CZK in Millions, CLP in Millions, $ in Millions | 3 Months Ended | ||||||||
Mar. 31, 2016GBP (£) | Mar. 31, 2016HUF | Mar. 31, 2016CHF (SFr) | Mar. 31, 2016CZK | Mar. 31, 2016PLN | Mar. 31, 2016EUR (€) | Mar. 31, 2016USD ($) | Mar. 31, 2016CLP | Mar. 31, 2016RON | |
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 935.9 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 447.9 USD 276.7 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ 447.9 | ||||||||
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] | January 2022 - January 2025 425.0 USD 255.8 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ 425 | ||||||||
Derivative Interest Rate Referenced | 3 mo. LIBOR | ||||||||
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] | April 2023 180.0 USD 112.5 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ 180 | ||||||||
Derivative Interest Rate | 1.64% | 1.64% | 1.64% | 1.64% | 1.64% | 1.64% | 1.64% | 1.64% | 1.64% |
Due From Counterparty [Member] | February 2022 - April 2023 175.0 USD 108.9 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ 175 | ||||||||
Derivative Interest Rate | 4.88% | 4.88% | 4.88% | 4.88% | 4.88% | 4.88% | 4.88% | 4.88% | 4.88% |
Due From Counterparty [Member] | October 2019 100.0 USD 65.4 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ 100 | ||||||||
Derivative Interest Rate | 7.19% | 7.19% | 7.19% | 7.19% | 7.19% | 7.19% | 7.19% | 7.19% | 7.19% |
Due From Counterparty [Member] | February 2022 100.0 USD 62.2 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ 100 | ||||||||
Derivative Interest Rate | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% |
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 - 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] | 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] | January 2020 170.6 USD 130.1 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ 170.6 | ||||||||
Derivative Interest Rate Referenced | 6 mo. LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 4.88% | 4.88% | 4.88% | 4.88% | 4.88% | 4.88% | 4.88% | 4.88% | 4.88% |
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 81.9 USD 62.4 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ 81.9 | ||||||||
Derivative Interest Rate Referenced | 6 mo. LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 5.04% | 5.04% | 5.04% | 5.04% | 5.04% | 5.04% | 5.04% | 5.04% | 5.04% |
Due From Counterparty [Member] | January 2020 73.1 USD 55.7 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ 73.1 | ||||||||
Derivative Interest Rate Referenced | 6 mo. LIBOR | ||||||||
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 From Counterparty [Member] | January 2022 49.4 USD 37.6 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ 49.4 | ||||||||
Derivative Interest Rate Referenced | 6 mo. LIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 5.04% | 5.04% | 5.04% | 5.04% | 5.04% | 5.04% | 5.04% | 5.04% | 5.04% |
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 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 - 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 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 2021 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] | October 2016 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] | October 2016 - January 2020 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] | 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 2021 150.0 EUR 43,367.5 HUF [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] | January 2022 2,350.0 USD 1,819.0 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 2,450.0 USD 1,799.0 EUR [Member] | Unitymedia Hessen [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ 2,450 | ||||||||
Derivative Interest Rate | 5.62% | 5.62% | 5.62% | 5.62% | 5.62% | 5.62% | 5.62% | 5.62% | 5.62% |
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 935.9 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 447.9 USD 276.7 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | £ | £ 276.7 | ||||||||
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 | 5.40% | 5.40% | 5.40% | 5.40% | 5.40% | 5.40% | 5.40% | 5.40% | 5.40% |
Due To Counterparty [Member] | January 2022 - January 2025 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 | 4.86% | 4.86% | 4.86% | 4.86% | 4.86% | 4.86% | 4.86% | 4.86% | 4.86% |
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] | April 2023 180.0 USD 112.5 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | £ | £ 112.5 | ||||||||
Derivative Interest Rate | 1.78% | 1.78% | 1.78% | 1.78% | 1.78% | 1.78% | 1.78% | 1.78% | 1.78% |
Due To Counterparty [Member] | February 2022 - April 2023 175.0 USD 108.9 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | £ | £ 108.9 | ||||||||
Derivative Interest Rate | 5.19% | 5.19% | 5.19% | 5.19% | 5.19% | 5.19% | 5.19% | 5.19% | 5.19% |
Due To Counterparty [Member] | October 2019 100.0 USD 65.4 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | £ | £ 65.4 | ||||||||
Derivative Interest Rate | 7.23% | 7.23% | 7.23% | 7.23% | 7.23% | 7.23% | 7.23% | 7.23% | 7.23% |
Due To Counterparty [Member] | February 2022 100.0 USD 62.2 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | £ | £ 62.2 | ||||||||
Derivative Interest Rate | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
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 - 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] | 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] | January 2020 170.6 USD 130.1 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € | € 130.1 | ||||||||
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] | 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 81.9 USD 62.4 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € | € 62.4 | ||||||||
Derivative Interest Rate | 7.19% | 7.19% | 7.19% | 7.19% | 7.19% | 7.19% | 7.19% | 7.19% | 7.19% |
Due To Counterparty [Member] | January 2020 73.1 USD 55.7 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € | € 55.7 | ||||||||
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] | January 2022 49.4 USD 37.6 EUR [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € | € 37.6 | ||||||||
Derivative Interest Rate Referenced | 6 mo. EURIBOR | ||||||||
Derivative Interest Rate Above Referenced Rate | 5.11% | 5.11% | 5.11% | 5.11% | 5.11% | 5.11% | 5.11% | 5.11% | 5.11% |
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 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 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 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 2021 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] | October 2016 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 | (0.73%) | (0.73%) | (0.73%) | (0.73%) | (0.73%) | (0.73%) | (0.73%) | (0.73%) | (0.73%) |
Due To Counterparty [Member] | October 2016 - January 2020 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 | 9.42% | 9.42% | 9.42% | 9.42% | 9.42% | 9.42% | 9.42% | 9.42% | 9.42% |
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] | 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 2021 150.0 EUR 43,367.5 HUF [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | HUF | HUF 43,367.5 | ||||||||
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 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] | January 2022 2,350.0 USD 1,819.0 EUR [Member] | Amsterdamse Beheer-en Consultingmaatschappij BV (ABC B.V.), a subsidiary of Ziggo [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € | € 1,819 | ||||||||
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 2,450.0 USD 1,799.0 EUR [Member] | Unitymedia Hessen [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € | € 1,799 | ||||||||
Derivative Interest Rate | 4.76% | 4.76% | 4.76% | 4.76% | 4.76% | 4.76% | 4.76% | 4.76% | 4.76% |
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 951,390 | ||||||||
Derivative Interest Rate | 6.36% | 6.36% | 6.36% | 6.36% | 6.36% | 6.36% | 6.36% | 6.36% | 6.36% |
Derivative Instruments (Interes
Derivative Instruments (Interest Rate Swaps) (Schedule) (Details) € in Millions, £ in Millions, SFr in Millions, $ in Millions | 3 Months Ended | |||
Mar. 31, 2016GBP (£) | Mar. 31, 2016CHF (SFr) | Mar. 31, 2016EUR (€) | Mar. 31, 2016USD ($) | |
October 2018 2155.0 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | £ | £ 1,198.3 | |||
October 2018 - June 2023 1200.0 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | £ | 1,198.3 | |||
June 2023 1,035.6 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | £ | 1,035.6 | |||
January 2021 905.1 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | £ | 905.1 | |||
January 2021 628.4 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | £ | 628.4 | |||
April 2023 108.9 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | £ | 108.9 | |||
June 2022 100.0 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | £ | 100 | |||
February 2022 62.2 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | £ | £ 62.2 | |||
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 | |||
January 2022 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 1,629.8 CHF [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | SFr | SFr 1,629.8 | |||
July 2016 - September 2022 729.8 CHF [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | SFr | 729.8 | |||
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 | |||
June 2021 370.9 CHF [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | SFr | 370.9 | |||
November 2016 226.8 CHF [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | SFr | 226.8 | |||
November 2016 - November 2021 158.7 CHF [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | SFr | 158.7 | |||
November 2016 - June 2021 68.0 CHF [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | SFr | SFr 68 | |||
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 2017 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 | 461.3 | |||
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 - January 2022 171.3 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | 171.3 | |||
June 2023 1,300.0 EUR [Member] | Telenet International [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | 1,300 | |||
July 2017 800.0 EUR [Member] | Telenet International [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | 800 | |||
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 | |||
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 | |||
May 2016 - December 2022 440.0 USD [Member] | LGE Coral [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | $ | 440 | |||
August 2016 - December 2022 360.0 USD [Member] | LGE Coral [Member] | ||||
Derivative [Line Items] | ||||
Notional amount of derivative | $ | $ 360 | |||
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] | June 2023 1,035.6 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 | 0.53% | 0.53% | 0.53% | 0.53% |
Due From Counterparty [Member] | January 2021 905.1 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 | 0.71% | 0.71% | 0.71% | 0.71% |
Due From Counterparty [Member] | January 2021 628.4 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] | April 2023 108.9 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 6.85% | 6.85% | 6.85% | 6.85% |
Due From Counterparty [Member] | June 2022 100.0 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. GBP LIBOR | |||
Due From Counterparty [Member] | February 2022 62.2 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 5.72% | 5.72% | 5.72% | 5.72% |
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] | January 2022 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 1,629.8 CHF [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. CHF LIBOR | |||
Due From Counterparty [Member] | July 2016 - September 2022 729.8 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] | June 2021 370.9 CHF [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. CHF LIBOR | |||
Due From Counterparty [Member] | November 2016 226.8 CHF [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 6 mo. CHF LIBOR | |||
Due From Counterparty [Member] | November 2016 - November 2021 158.7 CHF [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] | November 2016 - June 2021 68.0 CHF [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 2017 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 - 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 1,300.0 EUR [Member] | Telenet International [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 3 mo. EURIBOR | |||
Due From Counterparty [Member] | July 2017 800.0 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] | 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 From Counterparty [Member] | May 2016 - December 2022 440.0 USD [Member] | LGE Coral [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate Referenced | 3 mo. LIBOR | |||
Due From Counterparty [Member] | August 2016 - December 2022 360.0 USD [Member] | LGE Coral [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] | June 2023 1,035.6 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 2.14% | 2.14% | 2.14% | 2.14% |
Due To Counterparty [Member] | January 2021 905.1 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 2.37% | 2.37% | 2.37% | 2.37% |
Due To Counterparty [Member] | January 2021 628.4 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] | April 2023 108.9 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 | 5.62% | 5.62% | 5.62% | 5.62% |
Due To Counterparty [Member] | June 2022 100.0 GBP [Member] | Virgin Media Investment Holdings Limited [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 1.54% | 1.54% | 1.54% | 1.54% |
Due To Counterparty [Member] | February 2022 62.2 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 | 4.63% | 4.63% | 4.63% | 4.63% |
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] | January 2022 107.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 2.86% | 2.86% | 2.86% | 2.86% |
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 1,629.8 CHF [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | (0.25%) | (0.25%) | (0.25%) | (0.25%) |
Due To Counterparty [Member] | July 2016 - September 2022 729.8 CHF [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 1.75% | 1.75% | 1.75% | 1.75% |
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] | June 2021 370.9 CHF [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | (0.25%) | (0.25%) | (0.25%) | (0.25%) |
Due To Counterparty [Member] | November 2016 226.8 CHF [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | (1.27%) | (1.27%) | (1.27%) | (1.27%) |
Due To Counterparty [Member] | November 2016 - November 2021 158.7 CHF [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 6.34% | 6.34% | 6.34% | 6.34% |
Due To Counterparty [Member] | November 2016 - June 2021 68.0 CHF [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 6.34% | 6.34% | 6.34% | 6.34% |
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 2017 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 | 3.57% | 3.57% | 3.57% | 3.57% |
Due To Counterparty [Member] | January 2021 500.0 EUR [Member] | UPC Broadband Holding [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 2.61% | 2.61% | 2.61% | 2.61% |
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 - 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 1,300.0 EUR [Member] | Telenet International [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 0.33% | 0.33% | 0.33% | 0.33% |
Due To Counterparty [Member] | July 2017 800.0 EUR [Member] | Telenet International [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | (0.17%) | (0.17%) | (0.17%) | (0.17%) |
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] | 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% |
Due To Counterparty [Member] | May 2016 - December 2022 440.0 USD [Member] | LGE Coral [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 1.77% | 1.77% | 1.77% | 1.77% |
Due To Counterparty [Member] | August 2016 - December 2022 360.0 USD [Member] | LGE Coral [Member] | ||||
Derivative [Line Items] | ||||
Derivative Interest Rate | 1.92% | 1.92% | 1.92% | 1.92% |
Derivative Instruments (Inter46
Derivative Instruments (Interest Rate Caps) (Schedule) (Details) € in Millions | Mar. 31, 2016EUR (€) |
Interest Rate Cap [Member] | LGE Financing [Member] | |
Derivative [Line Items] | |
Notional amount of derivative | € 735 |
Maximum rate | 7.00% |
Interest Rate Cap [Member] | Telenet International [Member] | |
Derivative [Line Items] | |
Notional amount of derivative | € 50 |
Maximum rate | 4.50% |
December 2017 0.4 EUR 6.50 Percent [Member] | Telenet NV [Member] | |
Derivative [Line Items] | |
Notional amount of derivative | € 0.4 |
Maximum rate | 6.50% |
December 2017 0.4 EUR 5.50 Percent [Member] | Telenet NV [Member] | |
Derivative [Line Items] | |
Notional amount of derivative | € 0.4 |
Maximum rate | 5.50% |
Interest Rate Cap Sold [Member] | UPC Broadband Holding [Member] | |
Derivative [Line Items] | |
Notional amount of derivative | € 735 |
Maximum rate | 7.00% |
Derivative Instruments (Inter47
Derivative Instruments (Interest Rate Collars) (Schedule) (Details) - Interest Rate Collar [Member] - UPC Broadband Holding [Member] € in Millions | Mar. 31, 2016EUR (€) |
Derivative [Line Items] | |
Notional amount of derivative | € 1,135 |
Minimum rate | 1.00% |
Maximum rate | 3.54% |
Derivative Instruments (Foreign
Derivative Instruments (Foreign Currency Forwards) (Schedule) (Details) - Mar. 31, 2016 € 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 |
Foreign Currency Forward 1 [Member] | LGE Financing [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 391.1 | $ 443.6 | |||||||
Foreign Currency Forward 2 [Member] | LGE Financing [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | 32.5 | 28.1 | |||||||
Foreign Currency Forward 3 [Member] | LGE Financing [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | £ 9.8 | 14.9 | |||||||
Foreign Currency Forward 4 [Member] | LGE Financing [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | 88 | 111.3 | |||||||
Foreign Currency Forward 5 [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | CZK 60 | 2.5 | |||||||
Foreign Currency Forward 6 [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | SFr 70.5 | 64.9 | |||||||
Foreign Currency Forward 7 [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | 540 | 20.1 | |||||||
Foreign Currency Forward 8 [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | HUF 6,000 | 18.9 | |||||||
Foreign Currency Forward 9 [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | PLN 156.4 | 36 | |||||||
Foreign Currency Forward 10 [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | 11.2 | RON 50 | |||||||
Foreign Currency Forward 11 [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | £ 3.6 | 4.8 | |||||||
Foreign Currency Forward 12 [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | SFr 30 | 27.4 | |||||||
Foreign Currency Forward 13 [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | CZK 340 | 12.6 | |||||||
Foreign Currency Forward 14 [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | HUF 2,200 | 7 | |||||||
Foreign Currency Forward 15 [Member] | UPC Broadband Holding [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | PLN 45 | 10.5 | |||||||
Foreign Currency Forward 16 [Member] | Telenet [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | € 45.6 | 51.1 | |||||||
Foreign Currency Forward 17 [Member] | VTR [Member] | |||||||||
Derivative [Line Items] | |||||||||
Notional amount of derivative | $ 161.2 | CLP 114,681.8 |
Fair Value Measurements (Summar
Fair Value Measurements (Summary of Assets and Liabilities at Fair Value) (Schedule) (Details) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Assets: | ||
Derivative instruments | $ 2,476.1 | $ 2,506.1 |
Investments, fair value | 2,348 | 2,591.8 |
Total assets | 4,824.1 | 5,097.9 |
Liabilities: | ||
Derivative instruments | 2,068.8 | 1,594.6 |
Debt | 57 | |
Total liabilities | 2,125.8 | 1,594.6 |
Quoted prices in active markets for identical assets (Level 1) | ||
Assets: | ||
Derivative instruments | 0 | 0 |
Investments, fair value | 1,946.8 | 2,257.2 |
Total assets | 1,946.8 | 2,257.2 |
Liabilities: | ||
Derivative instruments | 0 | |
Debt | 0 | |
Total liabilities | 0 | 0 |
Significant other observable inputs (Level 2) | ||
Assets: | ||
Derivative instruments | 1,812.7 | 2,097.6 |
Investments, fair value | 0 | 0 |
Total assets | 1,812.7 | 2,097.6 |
Liabilities: | ||
Derivative instruments | 2,031.6 | |
Debt | 57 | |
Total liabilities | 2,088.6 | 1,520.2 |
Significant unobservable inputs (Level 3) | ||
Assets: | ||
Derivative instruments | 663.4 | 408.5 |
Investments, fair value | 401.2 | 334.6 |
Total assets | 1,064.6 | 743.1 |
Liabilities: | ||
Derivative instruments | 37.2 | |
Debt | 0 | |
Total liabilities | 37.2 | 74.4 |
Cross-currency and interest rate derivative contracts | ||
Assets: | ||
Derivative instruments | 1,807.8 | 2,085.6 |
Liabilities: | ||
Derivative instruments | 2,017.4 | 1,513.4 |
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 unobservable inputs (Level 3) | ||
Assets: | ||
Derivative instruments | 0 | 0 |
Liabilities: | ||
Derivative instruments | 0 | 0 |
Equity-related derivative instruments | ||
Assets: | ||
Derivative instruments | 663.4 | 408.5 |
Liabilities: | ||
Derivative instruments | 37.2 | 74.4 |
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 |
Foreign currency forward contracts | ||
Assets: | ||
Derivative instruments | 2 | 10.4 |
Liabilities: | ||
Derivative instruments | 12.5 | 1.1 |
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 unobservable inputs (Level 3) | ||
Assets: | ||
Derivative instruments | 0 | 0 |
Liabilities: | ||
Derivative instruments | 0 | 0 |
Other | ||
Assets: | ||
Derivative instruments | 2.9 | 1.6 |
Liabilities: | ||
Derivative instruments | 1.7 | 5.7 |
Other | Quoted prices in active markets for identical assets (Level 1) | ||
Assets: | ||
Derivative instruments | 0 | 0 |
Liabilities: | ||
Derivative instruments | 0 | 0 |
Other | Significant unobservable inputs (Level 3) | ||
Assets: | ||
Derivative instruments | 0 | 0 |
Liabilities: | ||
Derivative instruments | 0 | 0 |
Liberty Global Group [Member] | ||
Assets: | ||
Derivative instruments | 2,258.3 | 2,198.4 |
Liabilities: | ||
Derivative instruments | 2,005.7 | 1,580.8 |
Liberty Global Group [Member] | Cross-currency and interest rate derivative contracts | ||
Assets: | ||
Derivative instruments | 1,590.1 | 1,782.1 |
Liabilities: | ||
Derivative instruments | 1,961.9 | 1,499.6 |
Liberty Global Group [Member] | Equity-related derivative instruments | ||
Assets: | ||
Derivative instruments | 663.4 | 408.5 |
Liabilities: | ||
Derivative instruments | 37.2 | 74.4 |
Liberty Global Group [Member] | Foreign currency forward contracts | ||
Assets: | ||
Derivative instruments | 1.9 | 6.2 |
Liabilities: | ||
Derivative instruments | 4.9 | 1.1 |
Liberty Global Group [Member] | Other | ||
Assets: | ||
Derivative instruments | 2.9 | 1.6 |
Liabilities: | ||
Derivative instruments | $ 1.7 | $ 5.7 |
Fair Value Measurements (Assets
Fair Value Measurements (Assets and Liabilities Reconciliation) (Schedule and Footnote) (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2016USD ($) | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |
Balance of net assets at January 1, 2016 | $ 668.7 |
Gains included in net loss (a): | |
Realized and unrealized gains on derivative instruments, net | 293.2 |
Realized and unrealized gains due to changes in fair values of certain investments, net | 42.3 |
Foreign currency translation adjustments and other, net | 23.2 |
Balance of net assets at March 31, 2016 | 1,027.4 |
Investments | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |
Balance of net assets at January 1, 2016 | 334.6 |
Gains included in net loss (a): | |
Realized and unrealized gains on derivative instruments, net | 0 |
Realized and unrealized gains due to changes in fair values of certain investments, net | 42.3 |
Foreign currency translation adjustments and other, net | 24.3 |
Balance of net assets at March 31, 2016 | 401.2 |
Equity-related derivative instruments | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |
Balance of net assets at January 1, 2016 | 334.1 |
Gains included in net loss (a): | |
Realized and unrealized gains on derivative instruments, net | 293.2 |
Realized and unrealized gains due to changes in fair values of certain investments, net | 0 |
Foreign currency translation adjustments and other, net | (1.1) |
Balance of net assets at March 31, 2016 | $ 626.2 |
Long-lived Assets (Narrative) (
Long-lived Assets (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Long lived Assets | ||
Noncash vendor financing arrangement, cash increase, excluding value added tax | $ 438.9 | $ 295 |
Value added tax, vendor financing arrangement | 61.1 | 35 |
Capital leases | $ 27.9 | $ 62 |
Long-lived Assets (Schedule of
Long-lived Assets (Schedule of PP&E) (Details) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Property and equipment, gross | $ 38,873.4 | $ 36,739.9 |
Accumulated depreciation | (16,086.1) | (15,055.9) |
Total property and equipment, net | 22,787.3 | 21,684 |
Liberty Global Group [Member] | ||
Property and equipment, gross | 36,528 | 34,559.7 |
Accumulated depreciation | (14,636.6) | (13,719.2) |
Total property and equipment, net | 21,891.4 | 20,840.5 |
LiLAC Group [Member] | ||
Property and equipment, gross | 2,345.4 | 2,180.2 |
Accumulated depreciation | (1,449.5) | (1,336.7) |
Total property and equipment, net | 895.9 | 843.5 |
Distribution Systems [Member] | ||
Property and equipment, gross | 26,854.4 | 25,485 |
Distribution Systems [Member] | Liberty Global Group [Member] | ||
Property and equipment, gross | 25,748.8 | 24,447.2 |
Distribution Systems [Member] | LiLAC Group [Member] | ||
Property and equipment, gross | 1,105.6 | 1,037.8 |
Customer Premises Equipment [Member] | ||
Property and equipment, gross | 6,838.3 | 6,452.5 |
Customer Premises Equipment [Member] | Liberty Global Group [Member] | ||
Property and equipment, gross | 5,967.9 | 5,651.1 |
Customer Premises Equipment [Member] | LiLAC Group [Member] | ||
Property and equipment, gross | 870.4 | 801.4 |
Support Equipment, Buildings and Land [Member] | ||
Property and equipment, gross | 5,180.7 | 4,802.4 |
Support Equipment, Buildings and Land [Member] | Liberty Global Group [Member] | ||
Property and equipment, gross | 4,811.3 | 4,461.4 |
Support Equipment, Buildings and Land [Member] | LiLAC Group [Member] | ||
Property and equipment, gross | $ 369.4 | $ 341 |
Long-lived Assets (Schedule o53
Long-lived Assets (Schedule of Changes in Carrying Amount of Goodwill) (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2016USD ($) | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | $ 27,020.4 |
Acquisitions and related adjustments | 353.8 |
Foreign currency translation adjustments and other | 656.2 |
Goodwill ending balance | 28,030.4 |
European Operations Division U.K / Ireland [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 8,790.7 |
Acquisitions and related adjustments | 0.2 |
Foreign currency translation adjustments and other | (184.5) |
Goodwill ending balance | 8,606.4 |
European Operations Division Netherlands [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 7,851.3 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments and other | 372.2 |
Goodwill ending balance | 8,223.5 |
European Operations Division Germany [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 3,104.4 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments and other | 147.1 |
Goodwill ending balance | 3,251.5 |
European Operations Division Belgium [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 1,777.1 |
Acquisitions and related adjustments | 353.5 |
Foreign currency translation adjustments and other | 85.8 |
Goodwill ending balance | 2,216.4 |
European Operations Division Switzerland / Austria [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 3,500.4 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments and other | 152.2 |
Goodwill ending balance | 3,652.6 |
European Operations Division Total Western Europe [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 25,023.9 |
Acquisitions and related adjustments | 353.7 |
Foreign currency translation adjustments and other | 572.8 |
Goodwill ending balance | 25,950.4 |
European Operations Division Central and Eastern Europe [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 1,186.9 |
Acquisitions and related adjustments | 0.1 |
Foreign currency translation adjustments and other | 61 |
Goodwill ending balance | 1,248 |
Total European Operations Division [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 26,210.8 |
Acquisitions and related adjustments | 353.8 |
Foreign currency translation adjustments and other | 633.8 |
Goodwill ending balance | 27,198.4 |
Corporate and Other [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 34 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments and other | 0 |
Goodwill ending balance | 34 |
Liberty Global Group [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 26,244.8 |
Acquisitions and related adjustments | 353.8 |
Foreign currency translation adjustments and other | 633.8 |
Goodwill ending balance | 27,232.4 |
LiLAC Group Chile [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 377 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments and other | 22.4 |
Goodwill ending balance | 399.4 |
LiLAC Group Puerto Rico [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 277.7 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments and other | 0 |
Goodwill ending balance | 277.7 |
LiLAC Division [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 654.7 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments and other | 22.4 |
Goodwill ending balance | 677.1 |
LiLAC Group Corporate and Other [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 120.9 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments and other | 0 |
Goodwill ending balance | 120.9 |
LiLAC Group [Member] | |
Goodwill [Roll Forward] | |
Goodwill beginning balance | 775.6 |
Acquisitions and related adjustments | 0 |
Foreign currency translation adjustments and other | 22.4 |
Goodwill ending balance | $ 798 |
Long-lived Assets (Schedule o54
Long-lived Assets (Schedule of Intangible Assets Subject to Amortization, Net) (Details) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Gross carrying amount | $ 11,316.2 | $ 10,639.8 |
Accumulated amortization | (3,946.5) | (3,547.3) |
Net carrying amount | 7,369.7 | 7,092.5 |
Customer Relationships [Member] | ||
Gross carrying amount | 10,798.3 | 10,434.3 |
Accumulated amortization | (3,826.6) | (3,442.4) |
Net carrying amount | 6,971.7 | 6,991.9 |
Other Intangible Assets [Member] | ||
Gross carrying amount | 517.9 | 205.5 |
Accumulated amortization | (119.9) | (104.9) |
Net carrying amount | 398 | 100.6 |
Liberty Global Group [Member] | ||
Gross carrying amount | 11,167 | 10,490.6 |
Accumulated amortization | (3,910.9) | (3,515.5) |
Net carrying amount | 7,256.1 | 6,975.1 |
Liberty Global Group [Member] | Customer Relationships [Member] | ||
Gross carrying amount | 10,649.3 | 10,285.3 |
Accumulated amortization | (3,791.1) | (3,410.7) |
Net carrying amount | 6,858.2 | 6,874.6 |
Liberty Global Group [Member] | Other Intangible Assets [Member] | ||
Gross carrying amount | 517.7 | 205.3 |
Accumulated amortization | (119.8) | (104.8) |
Net carrying amount | 397.9 | 100.5 |
LiLAC Group [Member] | ||
Gross carrying amount | 149.2 | 149.2 |
Accumulated amortization | (35.6) | (31.8) |
Net carrying amount | 113.6 | 117.4 |
LiLAC Group [Member] | Customer Relationships [Member] | ||
Gross carrying amount | 149 | 149 |
Accumulated amortization | (35.5) | (31.7) |
Net carrying amount | 113.5 | 117.3 |
LiLAC Group [Member] | Other Intangible Assets [Member] | ||
Gross carrying amount | 0.2 | 0.2 |
Accumulated amortization | (0.1) | (0.1) |
Net carrying amount | $ 0.1 | $ 0.1 |
Debt and Capital Lease Obliga55
Debt and Capital Lease Obligations (Components of Debt and Capital Lease Obligations) (Details) € in Millions, £ in Millions, $ in Millions, CLP in Billions | 1 Months Ended | 3 Months Ended | |||||
Feb. 29, 2016EUR (€) | Mar. 31, 2016GBP (£) | Mar. 31, 2016EUR (€) | Mar. 31, 2016USD ($) | Feb. 29, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2015CLP | |
Debt Instrument [Line Items] | |||||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | $ 48,077.4 | $ 45,781.2 | |||||
Unamortized premiums (discounts), net | (37.9) | (46.7) | |||||
Unamortized deferred financing costs | (331.6) | (308.2) | |||||
Total debt | 47,707.9 | 45,426.3 | |||||
Capital lease obligations | 1,364.2 | 1,322.8 | |||||
Total debt and capital lease obligations | 49,072.1 | 46,749.1 | |||||
Current maturities of debt and capital lease obligations | (3,240.3) | (2,537.9) | |||||
Long-term debt and capital lease obligations | 45,831.8 | 44,211.2 | |||||
Unitymedia [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Limitation on availability | € 230.1 | 261.9 | |||||
Ziggo Group Holding [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Limitation on availability | 346.2 | 394 | |||||
Loans receivable | € 100 | $ 113.9 | |||||
Ziggo Secured Finance [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Ownership percentage of special purpose financing entity | 100.00% | 100.00% | 100.00% | ||||
VM Notes [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 5.61% | 5.61% | 5.61% | ||||
Unused borrowing capacity | £ 0 | $ 0 | |||||
Estimated fair value | 10,621.4 | 10,594.1 | |||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | $ 10,445 | 10,551.5 | |||||
VM Credit Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 3.61% | 3.61% | 3.61% | ||||
Unused borrowing capacity | $ 431 | ||||||
Estimated fair value | 3,820.4 | 3,413.7 | |||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | $ 3,876 | 3,471.1 | |||||
Ziggo Credit Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 3.64% | 3.64% | 3.64% | ||||
Unused borrowing capacity | € 800 | $ 910.4 | |||||
Estimated fair value | 5,253.9 | 5,161 | |||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | 5,296.8 | 5,272 | |||||
Limitation on availability | € 701.6 | $ 798.5 | |||||
Ziggo SPE Notes [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 4.46% | 4.46% | 4.46% | ||||
Unused borrowing capacity | € 0 | $ 0 | |||||
Estimated fair value | 1,735.3 | 1,582.7 | |||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | $ 1,765.7 | 1,703.9 | |||||
Ziggo Notes [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 6.82% | 6.82% | 6.82% | ||||
Unused borrowing capacity | € 0 | $ 0 | |||||
Estimated fair value | 1,008.2 | 955.1 | |||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | $ 927.3 | 885.4 | |||||
Unitymedia Notes [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 4.99% | 4.99% | 4.99% | ||||
Unused borrowing capacity | € 0 | $ 0 | |||||
Estimated fair value | 8,026.6 | 7,631.6 | |||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | $ 7,812.2 | 7,682 | |||||
Unitymedia Revolving Credit Facilities [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 0.00% | 0.00% | 0.00% | ||||
Unused borrowing capacity | € 500 | $ 569 | |||||
Estimated fair value | 0 | 0 | |||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | $ 0 | 0 | |||||
UPCB SPE Notes Debt [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 5.80% | 5.80% | 5.80% | ||||
Unused borrowing capacity | € 0 | $ 0 | |||||
Estimated fair value | 3,263.4 | 3,131.7 | |||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | $ 3,172.9 | 3,142 | |||||
UPC Broadband Holding Bank Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 3.25% | 3.25% | 3.25% | ||||
Unused borrowing capacity | € 990.1 | $ 1,126.8 | |||||
Estimated fair value | 1,297 | 1,284.3 | |||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | 1,305 | 1,305 | |||||
Limitation on availability | 858.3 | 976.8 | |||||
VM Revolving Credit Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Total debt | € 475 | 540.6 | |||||
Facility amount | £ 675 | $ 971.6 | |||||
UPC Holding Senior Notes [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 6.59% | 6.59% | 6.59% | ||||
Unused borrowing capacity | € 0 | $ 0 | |||||
Estimated fair value | 1,681.5 | 1,601.4 | |||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | $ 1,560 | 1,491.1 | |||||
Telenet Credit Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 3.29% | 3.29% | 3.29% | ||||
Unused borrowing capacity | € 164 | $ 186.6 | |||||
Estimated fair value | 2,875.2 | 1,443 | |||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | $ 2,929.5 | 1,474.5 | |||||
Telenet SPE Notes [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 5.49% | 5.49% | 5.49% | ||||
Unused borrowing capacity | € 0 | $ 0 | |||||
Estimated fair value | 2,274.1 | 2,155.8 | |||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | $ 2,196.5 | 2,097.2 | |||||
VTR Senior Secured Notes [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 6.88% | 6.88% | 6.88% | ||||
Unused borrowing capacity | € 0 | $ 0 | |||||
Estimated fair value | 1,371.1 | 1,301.1 | |||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | $ 1,400 | 1,400 | |||||
VTR Credit Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 0.00% | 0.00% | 0.00% | ||||
Unused borrowing capacity | $ 192.9 | ||||||
Estimated fair value | 0 | 0 | |||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | $ 0 | 0 | |||||
VTR Credit Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Facility amount | 32.9 | CLP 22 | |||||
Sumitomo Collar Loan [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 1.88% | 1.88% | 1.88% | ||||
Unused borrowing capacity | € 0 | $ 0 | |||||
Estimated fair value | 859 | 805.6 | |||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | $ 841.5 | 787.6 | |||||
ITV Collar Loan [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 1.35% | 1.35% | 1.35% | ||||
Unused borrowing capacity | $ 0 | ||||||
Estimated fair value | 1,528.6 | 1,547.9 | |||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | $ 1,558 | 1,594.7 | |||||
Liberty Puerto Rico Bank Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 5.11% | 5.11% | 5.11% | ||||
Unused borrowing capacity | $ 40 | ||||||
Estimated fair value | 899.2 | 913 | |||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | $ 942.5 | 942.5 | |||||
Vendor Financing [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 3.28% | 3.28% | 3.28% | ||||
Unused borrowing capacity | $ 0 | ||||||
Estimated fair value | 1,690.6 | 1,688.9 | |||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | 1,690.6 | 1,688.9 | |||||
General term of vendor financing arrangements | 1 year | ||||||
Value added tax, vendor financing arrangement | $ 191.3 | 189 | |||||
VTR Dollar Credit Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Facility amount | 160 | ||||||
Other Debt [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 7.44% | 7.44% | 7.44% | ||||
Unused borrowing capacity | $ 0 | ||||||
Estimated fair value | 394.8 | 395 | |||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | $ 357.9 | 291.8 | |||||
Aggregate Variable and Fixed Rate Indebtedness [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 4.80% | 4.80% | 4.80% | ||||
Telenet Credit Facility Z [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Facility amount | € 200 | $ 227.6 | |||||
Telenet Credit Facility AA [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Facility amount | 800 | 910.4 | |||||
Telenet Credit Facility X [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Carrying value | € 217 | $ 247 | |||||
Third-Party Debt [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 4.70% | 4.70% | 4.70% | ||||
Unused borrowing capacity | $ 3,456.7 | ||||||
Estimated fair value | 48,600.3 | 45,605.9 | |||||
VM Facility G [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Facility amount | € 75 | 85.4 | |||||
VM Facility H [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Facility amount | € 25 | $ 28.5 | |||||
Liberty Global Group [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 4.62% | 4.62% | 4.62% | ||||
Unused borrowing capacity | $ 3,223.8 | ||||||
Estimated fair value | 46,330 | 43,391.8 | |||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | 45,734.9 | 43,438.7 | |||||
Unamortized premiums (discounts), net | (29.5) | ||||||
Unamortized deferred financing costs | (297.7) | ||||||
Total debt | 45,407.7 | ||||||
Capital lease obligations | 1,363.5 | 1,321.9 | |||||
Liberty Global Group [Member] | UnityMedia KabelBW [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Capital lease obligations | 729.8 | 703.1 | |||||
Liberty Global Group [Member] | Unitymedia [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | 7,963 | ||||||
Unamortized premiums (discounts), net | 0 | ||||||
Unamortized deferred financing costs | (57.1) | ||||||
Total debt | 7,905.9 | ||||||
Liberty Global Group [Member] | Virgin Media [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | 15,060.3 | ||||||
Unamortized premiums (discounts), net | 15.6 | ||||||
Unamortized deferred financing costs | (120.5) | ||||||
Total debt | 14,955.4 | ||||||
Capital lease obligations | 147.4 | 159.5 | |||||
Liberty Global Group [Member] | Telenet [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | 5,275 | ||||||
Unamortized premiums (discounts), net | (2.7) | ||||||
Unamortized deferred financing costs | (52) | ||||||
Total debt | 5,220.3 | ||||||
Capital lease obligations | 394.6 | 371.1 | |||||
Liberty Global Group [Member] | Ziggo Group Holding [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | 8,171.9 | ||||||
Unamortized premiums (discounts), net | 27.8 | ||||||
Unamortized deferred financing costs | (30.2) | ||||||
Total debt | 8,169.5 | ||||||
Liberty Global Group [Member] | Other Subsidiaries [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | 2,567.8 | ||||||
Unamortized premiums (discounts), net | (61.7) | ||||||
Unamortized deferred financing costs | (1.2) | ||||||
Total debt | 2,504.9 | ||||||
Capital lease obligations | $ 91.7 | 88.2 | |||||
Liberty Global Group [Member] | Aggregate Variable and Fixed Rate Indebtedness [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 4.70% | 4.70% | 4.70% | ||||
LiLAC Group [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 6.17% | 6.17% | 6.17% | ||||
Unused borrowing capacity | $ 232.9 | ||||||
Estimated fair value | 2,270.3 | 2,214.1 | |||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | 2,342.5 | 2,342.5 | |||||
Unamortized premiums (discounts), net | (8.4) | ||||||
Unamortized deferred financing costs | (33.9) | ||||||
Total debt | 2,300.2 | ||||||
Capital lease obligations | 0.7 | 0.9 | |||||
LiLAC Group [Member] | Liberty Puerto Rico [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | 942.5 | ||||||
Unamortized premiums (discounts), net | (8.4) | ||||||
Unamortized deferred financing costs | (8.7) | ||||||
Total debt | 925.4 | ||||||
Capital lease obligations | 0.5 | 0.6 | |||||
LiLAC Group [Member] | VTR [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Total principal amount of debt before unamortized premiums, discounts and deferred financing costs | 1,400 | ||||||
Unamortized premiums (discounts), net | 0 | ||||||
Unamortized deferred financing costs | (25.2) | ||||||
Total debt | 1,374.8 | ||||||
Capital lease obligations | $ 0.2 | $ 0.3 | |||||
LiLAC Group [Member] | Aggregate Variable and Fixed Rate Indebtedness [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Weighted average interest rate | 6.00% | 6.00% | 6.00% | ||||
Pro Forma [Member] | Unitymedia [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Limitation on availability | € 222.3 | $ 253 | |||||
Pro Forma [Member] | Ziggo Group Holding [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Limitation on availability | 95.2 | 108.3 | |||||
Pro Forma [Member] | Ziggo Credit Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Limitation on availability | 438.1 | 498.6 | |||||
Pro Forma [Member] | UPC Broadband Holding Bank Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Limitation on availability | € 685.3 | $ 779.9 | |||||
EURIBOR [Member] | Telenet Credit Facility Z [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Basis spread on variable rate | 2.25% | ||||||
EURIBOR [Member] | Telenet Credit Facility AA [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Basis spread on variable rate | 3.50% | ||||||
EURIBOR [Member] | Telenet Credit Facility X [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Basis spread on variable rate | 2.75% | ||||||
EURIBOR [Member] | VM Facility G [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Basis spread on variable rate | 3.00% | ||||||
Floor rate | 0.75% | 0.75% | 0.75% | ||||
EURIBOR [Member] | VM Facility H [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Basis spread on variable rate | 3.75% | ||||||
Floor rate | 0.00% | 0.00% | 0.00% |
Debt and Capital Lease Obliga56
Debt and Capital Lease Obligations (VM Credit Facility) (Details) € in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2016EUR (€) | Mar. 31, 2016USD ($) | |
VM Facility G [Member] | ||
Debt Instrument [Line Items] | ||
Facility amount | € 75 | $ 85.4 |
VM Facility G [Member] | EURIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Basis spread on variable rate | 3.00% | |
Floor rate | 0.75% | 0.75% |
VM Facility H [Member] | ||
Debt Instrument [Line Items] | ||
Facility amount | € 25 | $ 28.5 |
VM Facility H [Member] | EURIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Basis spread on variable rate | 3.75% | |
Floor rate | 0.00% | 0.00% |
Debt and Capital Lease Obliga57
Debt and Capital Lease Obligations (Unitymedia Notes) (Details) € in Millions, $ in Millions | 1 Months Ended | ||||
Jan. 31, 2016USD ($) | Jan. 31, 2016EUR (€) | Jan. 31, 2016USD ($) | Dec. 23, 2015EUR (€) | Dec. 23, 2015USD ($) | |
5.5% Unitymedia Senior Secured Notes [Member] | Long-term Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount of debt | € 585 | $ 665.8 | |||
Interest rate | 5.50% | 5.50% | |||
5.125% Unitymedia Senior Secured Notes [Member] | Long-term Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount of debt | € 450 | $ 512.1 | |||
Interest rate | 5.125% | 5.125% | |||
4.625% Unitymedia Senior Secured Notes [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount of debt | € 420 | $ 478 | |||
Interest rate | 4.625% | 4.625% | |||
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% | ||||
Loss on debt modification and extinguishment | $ 4.3 | ||||
Payments for debt redemption premium | 3.4 | ||||
Write-off of deferred financing costs | $ 0.9 |
Debt and Capital Lease Obliga58
Debt and Capital Lease Obligations (Maturities of Debt) (Details) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Debt Instrument [Line Items] | ||
2016 (remainder of year) | $ 2,926.1 | |
2,016 | 696.6 | |
2,017 | 1,259.9 | |
2,018 | 365.8 | |
2,019 | 122.5 | |
2,020 | 7,250.2 | |
Thereafter | 35,456.3 | |
Total debt maturities | 48,077.4 | $ 45,781.2 |
Unamortized premium (discount) | (37.9) | (46.7) |
Unamortized deferred financing costs | (331.6) | (308.2) |
Total debt | 47,707.9 | 45,426.3 |
Current portion (d) | 3,084.2 | |
Noncurrent portion | 44,623.7 | |
Liberty Global Group [Member] | ||
Debt Instrument [Line Items] | ||
2016 (remainder of year) | 2,926.1 | |
2,016 | 696.6 | |
2,017 | 1,259.9 | |
2,018 | 365.8 | |
2,019 | 122.5 | |
2,020 | 7,250.2 | |
Thereafter | 33,113.8 | |
Total debt maturities | 45,734.9 | 43,438.7 |
Unamortized premium (discount) | (29.5) | |
Unamortized deferred financing costs | (297.7) | |
Total debt | 45,407.7 | |
Current portion (d) | 3,084.2 | |
Noncurrent portion | 42,323.5 | |
Liberty Global Group [Member] | Virgin Media [Member] | ||
Debt Instrument [Line Items] | ||
2016 (remainder of year) | 1,217.1 | |
2,016 | 6.7 | |
2,017 | 0.5 | |
2,018 | 0.6 | |
2,019 | 0.6 | |
2,020 | 3,706.4 | |
Thereafter | 10,128.4 | |
Total debt maturities | 15,060.3 | |
Unamortized premium (discount) | 15.6 | |
Unamortized deferred financing costs | (120.5) | |
Total debt | 14,955.4 | |
Current portion (d) | 1,224.1 | |
Noncurrent portion | 13,731.3 | |
Liberty Global Group [Member] | Ziggo Group Holding [Member] | ||
Debt Instrument [Line Items] | ||
2016 (remainder of year) | 182.1 | |
2,016 | 0 | |
2,017 | 0 | |
2,018 | 0 | |
2,019 | 81.6 | |
2,020 | 755.9 | |
Thereafter | 7,152.3 | |
Total debt maturities | 8,171.9 | |
Unamortized premium (discount) | 27.8 | |
Unamortized deferred financing costs | (30.2) | |
Total debt | 8,169.5 | |
Current portion (d) | 182.1 | |
Noncurrent portion | 7,987.4 | |
Liberty Global Group [Member] | Unitymedia [Member] | ||
Debt Instrument [Line Items] | ||
2016 (remainder of year) | 139.3 | |
2,016 | 11.5 | |
2,017 | 0 | |
2,018 | 0 | |
2,019 | 0 | |
2,020 | 0 | |
Thereafter | 7,812.2 | |
Total debt maturities | 7,963 | |
Unamortized premium (discount) | 0 | |
Unamortized deferred financing costs | (57.1) | |
Total debt | 7,905.9 | |
Current portion (d) | 150.8 | |
Noncurrent portion | 7,755.1 | |
Liberty Global Group [Member] | UPC Holding [Member] | ||
Debt Instrument [Line Items] | ||
2016 (remainder of year) | 524 | |
2,016 | 135 | |
2,017 | 0 | |
2,018 | 0 | |
2,019 | 0 | |
2,020 | 1,980 | |
Thereafter | 4,057.9 | |
Total debt maturities | 6,696.9 | |
Unamortized premium (discount) | (8.5) | |
Unamortized deferred financing costs | (36.7) | |
Total debt | 6,651.7 | |
Current portion (d) | 659 | |
Noncurrent portion | 5,992.7 | |
Liberty Global Group [Member] | Telenet [Member] | ||
Debt Instrument [Line Items] | ||
2016 (remainder of year) | 483 | |
2,016 | 8.4 | |
2,017 | 8.4 | |
2,018 | 19.2 | |
2,019 | 12.7 | |
2,020 | 807.9 | |
Thereafter | 3,935.4 | |
Total debt maturities | 5,275 | |
Unamortized premium (discount) | (2.7) | |
Unamortized deferred financing costs | (52) | |
Total debt | 5,220.3 | |
Current portion (d) | 483 | |
Noncurrent portion | 4,737.3 | |
Liberty Global Group [Member] | Other Subsidiaries [Member] | ||
Debt Instrument [Line Items] | ||
2016 (remainder of year) | 380.6 | |
2,016 | 535 | |
2,017 | 1,251 | |
2,018 | 346 | |
2,019 | 27.6 | |
2,020 | 0 | |
Thereafter | 27.6 | |
Total debt maturities | 2,567.8 | |
Unamortized premium (discount) | (61.7) | |
Unamortized deferred financing costs | (1.2) | |
Total debt | 2,504.9 | |
Current portion (d) | 385.2 | |
Noncurrent portion | 2,119.7 | |
LiLAC Group [Member] | ||
Debt Instrument [Line Items] | ||
2016 (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 | $ 2,342.5 |
Unamortized premium (discount) | (8.4) | |
Unamortized deferred financing costs | (33.9) | |
Total debt | 2,300.2 | |
Current portion (d) | 0 | |
Noncurrent portion | 2,300.2 | |
LiLAC Group [Member] | VTR [Member] | ||
Debt Instrument [Line Items] | ||
2016 (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 | |
Unamortized deferred financing costs | (25.2) | |
Total debt | 1,374.8 | |
Current portion (d) | 0 | |
Noncurrent portion | 1,374.8 | |
LiLAC Group [Member] | Liberty Puerto Rico [Member] | ||
Debt Instrument [Line Items] | ||
2016 (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) | (8.4) | |
Unamortized deferred financing costs | (8.7) | |
Total debt | 925.4 | |
Current portion (d) | 0 | |
Noncurrent portion | $ 925.4 |
Debt and Capital Lease Obliga59
Debt and Capital Lease Obligations (Capital Lease Obligations) (Schedule) (Details) $ in Millions | Mar. 31, 2016USD ($) |
Debt Instrument [Line Items] | |
2016 (remainder of year) | $ 198.7 |
2,016 | 202.9 |
2,017 | 174.2 |
2,018 | 151.7 |
2,019 | 143.8 |
2,020 | 141.3 |
Thereafter | 1,173.2 |
Total principal and interest payments | 2,185.8 |
Amounts representing interest | (821.6) |
Present value of net minimum lease payments | 1,364.2 |
Current portion | 156.1 |
Noncurrent portion | 1,208.1 |
Unitymedia [Member] | |
Debt Instrument [Line Items] | |
2016 (remainder of year) | 62.6 |
2,016 | 83.5 |
2,017 | 83.5 |
2,018 | 83.5 |
2,019 | 83.5 |
2,020 | 83.5 |
Thereafter | 741.3 |
Total principal and interest payments | 1,221.4 |
Amounts representing interest | (491.6) |
Present value of net minimum lease payments | 729.8 |
Current portion | 28.1 |
Noncurrent portion | 701.7 |
Telenet [Member] | |
Debt Instrument [Line Items] | |
2016 (remainder of year) | 54.1 |
2,016 | 64.5 |
2,017 | 62.6 |
2,018 | 52.6 |
2,019 | 49.7 |
2,020 | 47.8 |
Thereafter | 194.8 |
Total principal and interest payments | 526.1 |
Amounts representing interest | (131.5) |
Present value of net minimum lease payments | 394.6 |
Current portion | 43.1 |
Noncurrent portion | 351.5 |
Virgin Media [Member] | |
Debt Instrument [Line Items] | |
2016 (remainder of year) | 57.6 |
2,016 | 37.6 |
2,017 | 14 |
2,018 | 6.6 |
2,019 | 4.5 |
2,020 | 4.2 |
Thereafter | 197 |
Total principal and interest payments | 321.5 |
Amounts representing interest | (174.1) |
Present value of net minimum lease payments | 147.4 |
Current portion | 63.6 |
Noncurrent portion | 83.8 |
Other Subsidiaries [Member] | |
Debt Instrument [Line Items] | |
2016 (remainder of year) | 23.8 |
2,016 | 17.1 |
2,017 | 14.1 |
2,018 | 9 |
2,019 | 6.1 |
2,020 | 5.8 |
Thereafter | 40.1 |
Total principal and interest payments | 116 |
Amounts representing interest | (24.3) |
Present value of net minimum lease payments | 91.7 |
Current portion | 20.6 |
Noncurrent portion | 71.1 |
Liberty Global Group [Member] | |
Debt Instrument [Line Items] | |
2016 (remainder of year) | 198.1 |
2,016 | 202.7 |
2,017 | 174.2 |
2,018 | 151.7 |
2,019 | 143.8 |
2,020 | 141.3 |
Thereafter | 1,173.2 |
Total principal and interest payments | 2,185 |
Amounts representing interest | (821.5) |
Present value of net minimum lease payments | 1,363.5 |
Current portion | 155.4 |
Noncurrent portion | 1,208.1 |
LiLAC Group [Member] | |
Debt Instrument [Line Items] | |
2016 (remainder of year) | 0.6 |
2,016 | 0.2 |
2,017 | 0 |
2,018 | 0 |
2,019 | 0 |
2,020 | 0 |
Thereafter | 0 |
Total principal and interest payments | 0.8 |
Amounts representing interest | (0.1) |
Present value of net minimum lease payments | 0.7 |
Current portion | 0.7 |
Noncurrent portion | $ 0 |
Debt and Capital Lease Obliga60
Debt and Capital Lease Obligations (Non-cash Refinancing Transactions) (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Debt and Capital Lease Obligations [Abstract] | ||
Refinancing transactions, aggregate borrowings and repayments of debt | $ 113.8 | $ 1,484.3 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | ||
Apr. 30, 2020 | Apr. 30, 2017 | Mar. 31, 2016 | Mar. 31, 2015 | |
Income Taxes [Line Items] | ||||
Unrecognized tax benefits | $ 669 | |||
Unrecognized tax benefits that would have a favorable impact | 292.7 | |||
Reductions to unrecognized tax benefits, upper bound | $ 250 | |||
Domestic Tax Authority [Member] | ||||
Income Taxes [Line Items] | ||||
Income tax rate | 20.00% | 20.25% | ||
Scenario, Forecast [Member] | Domestic Tax Authority [Member] | ||||
Income Taxes [Line Items] | ||||
Income tax rate | 18.00% | 19.00% |
Income Taxes (Reconciliation of
Income Taxes (Reconciliation of Federal to Effective Taxes) (Schedule) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Accrued Income Taxes [Abstract] | ||
Computed “expected” tax benefit (expense) | $ 84.3 | $ 121.4 |
Change in valuation allowances: | ||
Decrease | (233.6) | (226) |
Increase | 133.7 | 1 |
Tax effect of intercompany financing | 38.1 | 38.2 |
International rate differences: | ||
Increase | 35.2 | 91.3 |
Decrease | (6.6) | (12.4) |
Non-deductible or non-taxable foreign currency exchange results: | ||
Increase | 18.6 | 69.5 |
Decrease | (1.3) | (8.7) |
Recognition of previously unrecognized tax benefits | 15 | 8.9 |
Basis and other differences in the treatment of items associated with investments in subsidiaries and affiliates: | ||
Decrease | (23.7) | (1) |
Increase | 11.3 | 14.5 |
Non-deductible or non-taxable interest and other expenses: | ||
Decrease | (22.1) | (33.7) |
Increase | 9.9 | 11.2 |
Other, net | (9.9) | 3.7 |
Total income tax benefit | $ 48.9 | $ 77.9 |
Equity (Details)
Equity (Details) $ / shares in Units, $ in Millions | 3 Months Ended |
Mar. 31, 2016USD ($)$ / sharesshares | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |
Beginning balance | $ 10,174.3 |
Ending balance | 9,578 |
Repurchase and cancellation of Liberty Global Shares | (286.4) |
Remaining authorized repurchase amount | $ 3,715.1 |
Common Class C [Member] | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |
Shares purchased pursuant to repurchase programs (in shares) | shares | 7,641,137 |
Average price paid per share pursuant to repurchase programs (in dollars per share) | $ / shares | $ 37.49 |
Liberty Global Group [Member] | Common Class A [Member] | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |
Beginning balance | $ 2.5 |
Liberty Global call option contracts | 0 |
Ending balance | 2.5 |
Liberty Global Group [Member] | Common Class B [Member] | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |
Beginning balance | 0.1 |
Liberty Global call option contracts | 0 |
Ending balance | 0.1 |
Liberty Global Group [Member] | Common Class C [Member] | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |
Beginning balance | 5.9 |
Liberty Global call option contracts | (0.1) |
Ending balance | 5.8 |
LiLAC Group [Member] | Common Class A [Member] | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |
Beginning balance | 0.1 |
Liberty Global call option contracts | 0 |
Ending balance | 0.1 |
LiLAC Group [Member] | Common Class B [Member] | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |
Beginning balance | 0 |
Liberty Global call option contracts | 0 |
Ending balance | 0 |
LiLAC Group [Member] | Common Class C [Member] | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |
Beginning balance | 0.3 |
Liberty Global call option contracts | 0 |
Ending balance | $ 0.3 |
Share-based Compensation (Summa
Share-based Compensation (Summary of Stock-Based Compensation) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | $ 69 | $ 71.4 |
Operating expense | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | 0.7 | 0.7 |
SG&A expense | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | 68.3 | 70.7 |
Other Stock Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | 1.5 | 0.7 |
Liberty Global Group [Member] | Operating expense | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | 0.5 | 0.7 |
Liberty Global Group [Member] | SG&A expense | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | 66.7 | 71.8 |
LiLAC Group [Member] | Operating expense | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | 0.2 | 0 |
LiLAC Group [Member] | SG&A expense | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | 1.6 | |
Reversal of stock-based compensation expense | (1.1) | |
Parent Company [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | 66.5 | 67.5 |
Parent Company [Member] | PSUs / PGUs [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | 41.1 | 42.1 |
Parent Company [Member] | Other Share-Based Incentive Awards [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | 25.4 | 25.4 |
Telenet [Member] | Stock Compensation Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | $ 1 | $ 3.2 |
Share-based Compensation (Narra
Share-based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 1 Months Ended | 3 Months Ended | |
Feb. 29, 2016 | Mar. 31, 2016 | Mar. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expense | $ 69 | $ 71.4 | |
PSUs / PGUs [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total compensation expense not yet recognized | $ 245.4 | ||
Target performance | 6.00% | ||
Other than options granted in period (in shares) | 6.3 | ||
Weighted average grant-date fair value, other than options (in dollars per share) | $ 34.04 | ||
PSUs / PGUs [Member] | April 1, 2019 and October 1, 2019 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting rights | 50.00% | ||
SG&A expense | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expense | $ 68.3 | 70.7 | |
Liberty Global Group [Member] | SG&A expense | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expense | 66.7 | $ 71.8 | |
LiLAC Group [Member] | SG&A expense | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expense | 1.6 | ||
Liberty Global Challenge Performance Awards [Member] | Liberty Global Group [Member] | PSUs / PGUs [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total compensation expense not yet recognized | $ 191.2 | ||
Minimum [Member] | PSUs / PGUs [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Award performance period | 3 years | ||
Performance range | 75.00% | ||
Expected performance earnings | 75.00% | ||
Maximum [Member] | PSUs / PGUs [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Performance range | 167.50% | ||
Expected performance earnings | 300.00% |
Share-based Compensation (Other
Share-based Compensation (Other Schedules) (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2016USD ($) | |
Non-Performance Based Awards [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Total compensation expense not yet recognized | $ 165.5 |
Weighted average period remaining for expense recognition (in years) | 2 years 6 months |
PSUs / PGUs [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Total compensation expense not yet recognized | $ 245.4 |
Weighted average period remaining for expense recognition (in years) | 2 years 8 months 12 days |
Restructuring Liability (Detail
Restructuring Liability (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2016 | |
Restructuring Reserve [Roll Forward] | ||
Restructuring liability as of January 1, 2016 | $ 146.5 | |
Cash paid | (46.2) | |
Restructuring charges | 17.8 | |
Foreign currency translation adjustments and other | 7 | |
Restructuring liability as of March 31, 2016 | 125.1 | |
Current portion | $ 77.4 | |
Noncurrent portion | 47.7 | |
Total | 146.5 | 125.1 |
Employee severance and termination [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring liability as of January 1, 2016 | 68.5 | |
Cash paid | (17.1) | |
Restructuring charges | 15.7 | |
Foreign currency translation adjustments and other | 3.1 | |
Restructuring liability as of March 31, 2016 | 70.2 | |
Current portion | 65.3 | |
Noncurrent portion | 4.9 | |
Total | 68.5 | 70.2 |
Office closures [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring liability as of January 1, 2016 | 7.3 | |
Cash paid | (0.6) | |
Restructuring charges | 0.3 | |
Foreign currency translation adjustments and other | (0.1) | |
Restructuring liability as of March 31, 2016 | 6.9 | |
Current portion | 1.3 | |
Noncurrent portion | 5.6 | |
Total | 7.3 | 6.9 |
Contract termination and other [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring liability as of January 1, 2016 | 70.7 | |
Cash paid | (28.5) | |
Restructuring charges | 1.8 | |
Foreign currency translation adjustments and other | 4 | |
Restructuring liability as of March 31, 2016 | 48 | |
Current portion | 10.8 | |
Noncurrent portion | 37.2 | |
Total | 70.7 | $ 48 |
European Operations Division Central and Other [Member] | Employee severance and termination [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring charges | 7 | |
U.K. / Ireland [Member] | Employee severance and termination [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring charges | 4.4 | |
Netherlands [Member] | Employee severance and termination [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring charges | $ 3.9 |
Earnings or Loss per Share (Nar
Earnings or Loss per Share (Narrative) (Details) - shares shares in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Liberty Global Group [Member] | 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 | 41.9 | |
Liberty Global Group [Member] | PSUs / PGUs [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Aggregate number of shares excluded from computation of EPS | 10 | |
Liberty Global Group [Member] | Obligations That May Be Settled in Cash or Shares [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Aggregate number of shares excluded from computation of EPS | 2.7 | |
LiLAC Group [Member] | 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 | 1.4 | |
LiLAC Group [Member] | PSUs / PGUs [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Aggregate number of shares excluded from computation of EPS | 0.4 | |
Old Liberty Global [Member] | Stock Options, SARs, PSARs, Restricted Shares, and RSUs [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Aggregate number of shares excluded from computation of EPS | 36.1 | |
Old Liberty Global [Member] | PSUs / PGUs [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Aggregate number of shares excluded from computation of EPS | 4.7 | |
Old Liberty Global [Member] | Obligations That May Be Settled in Cash or Shares [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Aggregate number of shares excluded from computation of EPS | 2.6 |
Earnings or Loss per Share (Det
Earnings or Loss per Share (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||
Net loss attributable to Liberty Global shareholders | $ (369.1) | $ (537.5) |
Liberty Global Group [Member] | ||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||
Net loss attributable to Liberty Global shareholders | (330.6) | 0 |
LiLAC Group [Member] | ||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||
Net loss attributable to Liberty Global shareholders | (38.5) | 0 |
Old Liberty Global [Member] | ||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||
Net loss attributable to Liberty Global shareholders | $ 0 | $ (537.5) |
Commitments and Contingencies70
Commitments and Contingencies (Unrecorded Purchase Obligation) (Details) $ in Millions | Mar. 31, 2016USD ($) |
Unrecorded Unconditional Purchase Obligation [Line Items] | |
Remainder of 2016 | $ 2,764.3 |
2,016 | 1,657 |
2,017 | 1,193.8 |
2,018 | 568.6 |
2,019 | 201.2 |
2,020 | 147.3 |
Thereafter | 1,223.1 |
Total | 7,755.3 |
Programming Commitments [Member] | |
Unrecorded Unconditional Purchase Obligation [Line Items] | |
Remainder of 2016 | 820.7 |
2,016 | 971.5 |
2,017 | 780.6 |
2,018 | 299.3 |
2,019 | 11.3 |
2,020 | 7.1 |
Thereafter | 0.8 |
Total | 2,891.3 |
Network and Connectivity Commitments [Member] | |
Unrecorded Unconditional Purchase Obligation [Line Items] | |
Remainder of 2016 | 712.8 |
2,016 | 258.3 |
2,017 | 139.7 |
2,018 | 98.1 |
2,019 | 63.1 |
2,020 | 54.6 |
Thereafter | 908.8 |
Total | 2,235.4 |
Purchase Commitments [Member] | |
Unrecorded Unconditional Purchase Obligation [Line Items] | |
Remainder of 2016 | 1,010.3 |
2,016 | 237.7 |
2,017 | 124 |
2,018 | 53.9 |
2,019 | 44.6 |
2,020 | 15.1 |
Thereafter | 62.3 |
Total | 1,547.9 |
Operating Leases [Member] | |
Unrecorded Unconditional Purchase Obligation [Line Items] | |
Remainder of 2016 | 128.7 |
2,016 | 139.5 |
2,017 | 117.1 |
2,018 | 90.4 |
2,019 | 68.9 |
2,020 | 56.1 |
Thereafter | 242.7 |
Total | 843.4 |
Other Commitments [Member] | |
Unrecorded Unconditional Purchase Obligation [Line Items] | |
Remainder of 2016 | 91.8 |
2,016 | 50 |
2,017 | 32.4 |
2,018 | 26.9 |
2,019 | 13.3 |
2,020 | 14.4 |
Thereafter | 8.5 |
Total | $ 237.3 |
Commitments and Contingencies71
Commitments and Contingencies (Narrative) (Details) € in Millions, £ in Millions, HUF in Millions | Dec. 14, 2015 | Feb. 29, 2016HUF | Feb. 29, 2016USD ($) | Dec. 31, 2015EUR (€) | Dec. 31, 2015USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2015GBP (£) | Dec. 31, 2015USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2012EUR (€) | Dec. 31, 2012USD ($) | Dec. 14, 2017 | Mar. 31, 2016GBP (£) | Mar. 31, 2016EUR (€) | Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Nov. 26, 2007association |
Loss Contingencies [Line Items] | |||||||||||||||||
Net cash paid for taxes | $ 115,100,000 | $ 123,000,000 | |||||||||||||||
Broadband Communications and DHT Operations [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Programming costs | 599,500,000 | 561,500,000 | |||||||||||||||
Interkabel Acquisition [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Damages sought | € 1,400 | $ 1,600,000,000 | |||||||||||||||
Liberty Global Group [Member] | Broadband Communications and DHT Operations [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Programming costs | 534,100,000 | 502,600,000 | |||||||||||||||
LiLAC Group [Member] | Broadband Communications and DHT Operations [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Programming costs | $ 65,400,000 | $ 58,900,000 | |||||||||||||||
Interkabel Acquisition [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Number of associations of municipalities in Belgium | association | 4 | ||||||||||||||||
Loss contingency damages in excess value | € 20 | $ 22,800,000 | |||||||||||||||
Loss contingency accrual | $ 0 | ||||||||||||||||
Deutsche Telekom Litigation [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Damages sought | € 76 | $ 86,000,000 | |||||||||||||||
Reduction of annual lease fees | 66.67% | 66.67% | |||||||||||||||
Vivendi Litigation [Member] | Liberty Media [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Proceeds from legal settlements | $ 69,800,000 | ||||||||||||||||
Belgium Regulatory Developments [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Retail-Minus Tariffs for Basic TV | 26.00% | ||||||||||||||||
Retail-Minus Tariffs for Bundle of Basic TV and Broadband Internet Services | 18.00% | ||||||||||||||||
Amended Retail-Minus Tariffs Term | 2 years | ||||||||||||||||
Belgium Regulatory Developments [Member] | Scenario, Forecast [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Retail-Minus Tariffs for Basic TV | 15.00% | ||||||||||||||||
Retail-Minus Tariffs for Bundle of Basic TV and Broadband Internet Services | 7.00% | ||||||||||||||||
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] | |||||||||||||||||
Loss contingency accrual | $ 0 | ||||||||||||||||
Virgin Media VAT Matters [Member] | Maximum [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Estimate of possible loss | £ 46.1 | $ 66,400,000 | |||||||||||||||
Virgin Media VAT Matters 2 [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Estimate of possible loss | £ | £ 63.7 | ||||||||||||||||
Net cash paid for taxes | 67 | $ 99,100,000 | |||||||||||||||
Interest expense | £ | £ 3.3 | ||||||||||||||||
Loss contingency accrual | 0 | ||||||||||||||||
Hungary VAT Matter [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Unpaid VAT payment assessed | HUF 5,413.2 | $ 19,600,000 | |||||||||||||||
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 |
Segment Reporting (Narrative) (
Segment Reporting (Narrative) (Details) | 3 Months Ended |
Mar. 31, 2016country | |
Segment Reporting Information [Line Items] | |
Threshold percentage used to determine reportable segments using one of three criteria of revenue, operating cash flow or total assets | 10.00% |
Performance measures, percentage of reportable segment revenue and operating cash flow presented | 100.00% |
Total European Operations Division [Member] | |
Segment Reporting Information [Line Items] | |
Number of European countries in operating segment (in countries) | 12 |
Telenet and Liberty Puerto Rico [Member] | |
Segment Reporting Information [Line Items] | |
Percentage of minority interest revenues and expenses included in net earnings attributable to noncontrolling interest | 100.00% |
Segment Reporting (Performance
Segment Reporting (Performance Measures) (Schedule) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Segment Reporting Information [Line Items] | ||
Revenue | $ 4,588 | $ 4,516.9 |
Operating cash flow | 2,115.5 | 2,097.3 |
Adjusted Operating Income (Loss) before Depreciation and Amortization | 2,115.5 | 2,097.3 |
European Operations Division U.K / Ireland [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 1,686.5 | 1,711.4 |
Adjusted Operating Income (Loss) before Depreciation and Amortization | 744.6 | 763.3 |
European Operations Division Netherlands [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 669.8 | 707.4 |
Adjusted Operating Income (Loss) before Depreciation and Amortization | 367.9 | 367.9 |
European Operations Division Germany [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 617.1 | 597.9 |
Adjusted Operating Income (Loss) before Depreciation and Amortization | 379.4 | 364 |
European Operations Division Belgium [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 610.2 | 502.7 |
Adjusted Operating Income (Loss) before Depreciation and Amortization | 269.8 | 247 |
European Operations Division Switzerland / Austria [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 433.4 | 439.3 |
Adjusted Operating Income (Loss) before Depreciation and Amortization | 258.1 | 248.8 |
European Operations Division Total Western Europe [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 4,017 | 3,958.7 |
Adjusted Operating Income (Loss) before Depreciation and Amortization | 2,019.8 | 1,991 |
European Operations Division Central and Eastern Europe [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 266.1 | 268.2 |
Adjusted Operating Income (Loss) before Depreciation and Amortization | 110.9 | 118.1 |
European Operations Division Central and Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | (2.4) | (2.8) |
Adjusted Operating Income (Loss) before Depreciation and Amortization | (84.3) | (67.9) |
Total European Operations Division [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 4,280.7 | 4,224.1 |
Adjusted Operating Income (Loss) before Depreciation and Amortization | 2,046.4 | 2,041.2 |
Corporate and Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 14.6 | 12.8 |
Adjusted Operating Income (Loss) before Depreciation and Amortization | (52.8) | (52.1) |
Intergroup Eliminations [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | (11.2) | (7.8) |
Liberty Global Group [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 4,284.1 | 4,229.1 |
Adjusted Operating Income (Loss) before Depreciation and Amortization | 1,993.6 | 1,989.1 |
LiLAC Group Chile [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 200 | 208.8 |
Adjusted Operating Income (Loss) before Depreciation and Amortization | 76.3 | 76 |
LiLAC Group Puerto Rico [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 103.9 | 79 |
Adjusted Operating Income (Loss) before Depreciation and Amortization | 46.8 | 33.5 |
LiLAC Division [Member] | ||
Segment Reporting Information [Line Items] | ||
Adjusted Operating Income (Loss) before Depreciation and Amortization | 123.1 | 109.5 |
LiLAC Group Corporate and Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Adjusted Operating Income (Loss) before Depreciation and Amortization | (1.2) | (1.3) |
LiLAC Group [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 303.9 | 287.8 |
Adjusted Operating Income (Loss) before Depreciation and Amortization | $ 121.9 | $ 108.2 |
Segment Reporting (Reconciliati
Segment Reporting (Reconciliation of Operating Cash Flow to Earnings from Continuing Operations) (Schedule) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Segment Reporting, Measurement Disclosures [Abstract] | ||
Total segment Adjusted OIBDA | $ 2,115.5 | $ 2,097.3 |
Share-based compensation expense | (69) | (71.4) |
Depreciation and amortization | (1,435.5) | (1,451.4) |
Impairment, restructuring and other operating items, net | (24.4) | (17) |
Operating income | 586.6 | 557.5 |
Interest expense | (619.3) | (615.9) |
Realized and unrealized gains (losses) on derivative instruments, net | (508.7) | 618.5 |
Foreign currency transaction gains (losses), net | 339 | (1,035.6) |
Realized and unrealized gains (losses) due to changes in fair values of certain investments, net | (268.2) | 151.4 |
Losses on debt modification and extinguishment, net | (4.3) | (274.5) |
Other income (expense), net (note 13) | 53.3 | (1) |
Loss before income taxes | $ (421.6) | $ (599.6) |
Segment Reporting (Capital Expe
Segment Reporting (Capital Expenditures of Reportable Segments) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | $ 997 | $ 924.9 |
Assets acquired under capital-related vendor financing arrangements | (438.9) | (295) |
Assets acquired under capital leases | (27.9) | (62) |
Changes in current liabilities related to capital expenditures | 106.9 | 93.3 |
Total capital expenditures | 637.1 | 661.2 |
European Operations Division U.K / Ireland [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 368.5 | 347.3 |
European Operations Division Netherlands [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 140.1 | 120.8 |
European Operations Division Germany [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 127 | 142.9 |
European Operations Division Belgium [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 98.9 | 63.2 |
European Operations Division Switzerland / Austria [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 58.4 | 56.6 |
European Operations Division Total Western Europe [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 792.9 | 730.8 |
European Operations Division Central and Eastern Europe [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 59.9 | 48.6 |
European Operations Division Central and Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 68.6 | 50.3 |
Total European Operations Division [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 921.4 | 829.7 |
Corporate and Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 4.1 | 39.1 |
Liberty Global Group [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 925.5 | 868.8 |
LiLAC Group Chile [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 52.4 | 40.4 |
LiLAC Group Puerto Rico [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | 19.1 | 15.7 |
LiLAC Group [Member] | ||
Segment Reporting Information [Line Items] | ||
Total property and equipment additions | $ 71.5 | $ 56.1 |
Segment Reporting (Revenue by M
Segment Reporting (Revenue by Major Category) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Segment Reporting Information [Line Items] | ||
Total | $ 4,588 | $ 4,516.9 |
Video [Member] | ||
Segment Reporting Information [Line Items] | ||
Total | 1,567.7 | 1,605.8 |
Broadband Internet [Member] | ||
Segment Reporting Information [Line Items] | ||
Total | 1,280.9 | 1,232.9 |
Telephony [Member] | ||
Segment Reporting Information [Line Items] | ||
Total | 752.1 | 796.2 |
Cable Subscription [Member] | ||
Segment Reporting Information [Line Items] | ||
Total | 3,600.7 | 3,634.9 |
Mobile [Member] | ||
Segment Reporting Information [Line Items] | ||
Total | 293.2 | 251.7 |
Total Subscription [Member] | ||
Segment Reporting Information [Line Items] | ||
Total | 3,893.9 | 3,886.6 |
Business to Business [Member] | ||
Segment Reporting Information [Line Items] | ||
Total | 387.8 | 377.9 |
Other Category [Member] | ||
Segment Reporting Information [Line Items] | ||
Total | 306.3 | 252.4 |
Mobile Interconnect [Member] | ||
Segment Reporting Information [Line Items] | ||
Total | 65 | 54.4 |
SOHO Cable Subscription [Member] | ||
Segment Reporting Information [Line Items] | ||
Total | $ 86.8 | $ 62.6 |
Segment Reporting (Geographic S
Segment Reporting (Geographic Segments) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Segment Reporting Information [Line Items] | ||
Revenue | $ 4,588 | $ 4,516.9 |
European Operations Division United Kingdom [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 1,578.5 | 1,612 |
European Operations Division Netherlands [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 669.8 | 707.4 |
European Operations Division Germany [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 617.1 | 597.9 |
European Operations Division Belgium [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 610.2 | 502.7 |
European Operations Division Switzerland [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 339.3 | 346.8 |
European Operations Division Poland [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 96.6 | 101 |
European Operations Division Ireland [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 108 | 99.4 |
European Operations Division Austria [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 94.1 | 92.5 |
European Operations Division Hungary [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 65.4 | 65 |
European Operations Division Czech Republic [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 44.2 | 44.4 |
European Operations Division Romania [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 41.4 | 38.9 |
European Operations Division Slovakia [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 14.7 | 15.2 |
European Operations Division Other Europe [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 1.4 | 0.9 |
Total European Operations Division [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 4,280.7 | 4,224.1 |
Other, Including Intersegment Eliminations | ||
Segment Reporting Information [Line Items] | ||
Revenue | 3.4 | 5 |
Liberty Global Group [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 4,284.1 | 4,229.1 |
LiLAC Group Chile [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 200 | 208.8 |
LiLAC Group Puerto Rico [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 103.9 | 79 |
LiLAC Group [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | $ 303.9 | $ 287.8 |
Subsequent Events (Details)
Subsequent Events (Details) - Subsequent Event [Member] € in Millions, $ in Millions | May. 02, 2016EUR (€) | Apr. 26, 2016USD ($) | May. 02, 2016USD ($) |
Telenet Credit Facility P [Member] | Long-term Debt [Member] | |||
Subsequent Event [Line Items] | |||
Principal amount of debt | € 400 | $ 455.2 | |
Telenet Credit Facility O [Member] | Long-term Debt [Member] | |||
Subsequent Event [Line Items] | |||
Principal amount of debt | € 300 | $ 341.4 | |
6.625 Telenet Senior Secured Notes [Member] | Long-term Debt [Member] | |||
Subsequent Event [Line Items] | |||
Interest rate | 6.625% | 6.625% | |
Virgin Media Secured Finance [Member] | Secured Debt [Member] | August 2026 VM Senior Secured Notes [Member] | |||
Subsequent Event [Line Items] | |||
Principal amount of debt | $ 750 | ||
Interest rate | 5.50% | ||
Additional basis points used to determine redemption premium | 0.50% | ||
Telenet Financing USD LLC [Member] | Term Loan Facility [Member] | Telenet Facility AD [Member] | |||
Subsequent Event [Line Items] | |||
Principal amount of debt | $ 850 | ||
Issued at par percentage | 99.50% | 99.50% | |
Basis spread on variable rate | 3.50% | ||
Floor rate | 0.75% | 0.75% | |
2021 | Virgin Media Secured Finance [Member] | Secured Debt [Member] | August 2026 VM Senior Secured Notes [Member] | |||
Subsequent Event [Line Items] | |||
Redemption price | 102.75% | ||
2022 | Virgin Media Secured Finance [Member] | Secured Debt [Member] | August 2026 VM Senior Secured Notes [Member] | |||
Subsequent Event [Line Items] | |||
Redemption price | 101.375% | ||
2023 | Virgin Media Secured Finance [Member] | Secured Debt [Member] | August 2026 VM Senior Secured Notes [Member] | |||
Subsequent Event [Line Items] | |||
Redemption price | 100.688% | ||
2024 and thereafter | Virgin Media Secured Finance [Member] | Secured Debt [Member] | August 2026 VM Senior Secured Notes [Member] | |||
Subsequent Event [Line Items] | |||
Redemption price | 100.00% |