UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 11-K
| R | ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2015 |
OR
| ¨ | TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from _____ to _____
Commission file number 001-35961
LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
(Full title of the Plan)
LIBERTY GLOBAL PLC
(Issuer of the securities held pursuant to the Plan)
Griffin House, 161 Hammersmith Rd, London, United Kingdom
W6 8BS
(Address of its principal executive office)
LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
| Table of Contents | Page Number |
| Report of Independent Registered Public Accounting Firm | |
| Financial Statements: | |
| Statements of Net Assets Available for Plan Benefits as of December 31, 2015 and 2014 | |
| Statement of Changes in Net Assets Available for Plan Benefits for the year ended December 31, 2015 | |
| Notes to Financial Statements | |
| Supplemental Schedule: | |
| Schedule of Assets (Held at End of Year) – Form 5500, Schedule H, Part IV, Line 4i, as of December 31, 2015 | |
Report of Independent Registered Public Accounting Firm
To the Plan Administrator
Liberty Global 401(k) Savings and Stock Ownership Plan
Englewood, Colorado
We have audited the accompanying statements of net assets available for plan benefits of the Liberty Global 401(k) Savings and Stock Ownership Plan (the “Plan”) as of December 31, 2015 and 2014, and the related statement of changes in net assets available for plan benefits for the year ended December 31, 2015. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for plan benefits of the plan as of December 31, 2015 and 2014, and the changes in net assets available for plan benefits for the year ended December 31, 2015, in conformity with accounting principles generally accepted in the United States of America.
The supplemental information in the accompanying schedule of assets (held at end of year) as of December 31, 2015 has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is presented for the purpose of additional analysis and is not a required part of the financial statements but include supplemental information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental information is the responsibility of the Plan’s management. Our audit procedures include determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information in the accompanying schedule, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information in the accompanying schedule is fairly stated in all material aspects in relation to the financial statements as a whole.
/s/ Anton Collins Mitchell LLP
Denver, Colorado
June 23, 2016
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LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
Statements of Net Assets Available for Plan Benefits
| December 31, | |||||||
| 2015 | 2014 | ||||||
| Investments, at fair value: | |||||||
| Money market funds | $ | 1,678,324 | $ | 1,558,003 | |||
| Mutual funds | 26,875,159 | 26,374,947 | |||||
| Employer shares | 16,722,515 | 18,252,925 | |||||
| Total investments | 45,275,998 | 46,185,875 | |||||
| Notes receivable from participants | 133,458 | 213,377 | |||||
| Employer contributions receivable, net of forfeitures | 324,827 | — | |||||
| Net assets available for Plan benefits | $ | 45,734,283 | $ | 46,399,252 | |||
The accompanying notes are an integral part of these financial statements.
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LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
Statement of Changes in Net Assets Available for Plan Benefits
Year ended December 31, 2015
| Additions to (deductions from) net assets attributed to: | |||
| Contributions: | |||
| Participant | $ | 1,884,093 | |
| Employer, net of forfeitures applied | 1,626,779 | ||
| Total contributions | 3,510,872 | ||
| Investment income (loss): | |||
| Net depreciation in fair value of investments | (4,102,701 | ) | |
| Interest and dividends | 1,558,762 | ||
| Total investment loss, net | (2,543,939 | ) | |
| Interest income on notes receivable from participants | 7,998 | ||
| Distributions to participants | (1,626,157 | ) | |
| Fees and expenses | (13,743 | ) | |
| Net decrease in net assets available for Plan benefits | (664,969 | ) | |
| Net assets available for Plan benefits, beginning of year | 46,399,252 | ||
| Net assets available for Plan benefits, end of year | $ | 45,734,283 | |
The accompanying notes are an integral part of these financial statements.
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LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
Notes to Financial Statements
(1) Description of the Plan
The following description of the Liberty Global 401(k) Savings and Stock Ownership Plan (the Plan) provides only general information. Participants and all others should refer to the Plan document for a more complete description of the Plan’s provisions. Liberty Global, Inc. (LGI) is a subsidiary of Liberty Global plc (Liberty Global), a public limited company organized under the laws of England and Wales. LGI, as the Plan sponsor, reserves the right to amend the Plan at any time. In these notes, the term “Liberty Global” may refer, as the context requires, to Liberty Global plc or collectively to Liberty Global plc and its subsidiaries.
On July 1, 2015, Liberty Global completed the approved steps of the “LiLAC Transaction” whereby Liberty Global (i) reclassified its then outstanding Liberty Global Class A, Class B and Class C ordinary shares into corresponding classes of new Liberty Global ordinary shares (collectively, the Liberty Global Shares) and (ii) capitalized a portion of its share premium account and distributed as a dividend (or a “bonus issue” under United Kingdom (U.K.) law) its LiLAC Class A, Class B and Class C ordinary shares (collectively, the LiLAC Shares). The term “Old Liberty Global Shares” refers to Liberty Global’s previously-outstanding Class A, Class B and Class C Liberty Global ordinary shares. Pursuant to the LiLAC Transaction, each holder of Class A, Class B and Class C Old Liberty Global Shares remained a holder of the same amount and class of Liberty Global Shares and received one share of the corresponding class of LiLAC Shares for each 20 Old Liberty Global Shares held as of the record date for such distribution.
The Liberty Global Shares and the LiLAC Shares are tracking shares, intended to reflect or “track” the economic performance of particular businesses or “groups,” rather than the economic performance of Liberty Global as a whole. The “LiLAC Group” comprises Liberty Global’s businesses, assets and liabilities in Latin America and the Caribbean, including LGE Coral Holdco Limited and its subsidiary, which were formed in anticipation of the CWC Acquisition (as defined in note 7). The “Liberty Global Group” comprises Liberty Global’s businesses, assets and liabilities not attributed to the LiLAC Group.
These financial statements reflect our consideration of the accounting and disclosure implications of subsequent events through June 23, 2016, the date of issuance.
General
The Plan was established January 1, 1994 and is a defined contribution plan. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA). The Plan has been amended and restated at various dates. It was last restated and amended on October 27, 2015.
Eligibility
Employees of LGI and designated 80% or more owned subsidiaries of LGI are eligible to participate in the Plan. Employees under a collective bargaining agreement, leased employees and Puerto Rico employees are not eligible to participate in the Plan.
Trustee and Recordkeeper
The trustee and recordkeeper of the Plan is Fidelity Management Trust Company (Fidelity or Trustee).
Contributions
Participants who are residents or citizens of the United States may make pre-tax contributions, Roth deferral contributions or a combination of pre-tax and Roth deferral contributions to the Plan of up to 75% of their eligible compensation, as defined in the Plan document. Catch-up contributions, as defined in the Economic Growth and Tax Relief Reconciliation Act of 2001, are permitted for those eligible employees and are not matched by the employer. Participants may change their contribution elections on the first day of every month. Liberty Global may make matching contributions equal to 100% of participant contributions, up to a maximum match of 10% of eligible compensation. Liberty Global reserves the right to change the matching contribution at any time. All participant contributions and employer matching contributions are subject to limitations as determined annually by the Internal Revenue Service (IRS). During 2015, participant elective pre-tax and Roth deferral contributions were limited to $18,000 and combined participant and employer contributions per participant were limited to $53,000. Catch-up contributions for individuals age 50 and over were limited to $6,000 during 2015.
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LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
Notes to Financial Statements — (Continued)
Participant contributions may be invested in any investment offered by the Plan at the participant’s election, except for the Fidelity Cash Reserves Money Market Fund accounts, which are used by Fidelity for managing contributions, and funds holding LiLAC Shares. All employer matching contributions are made in Liberty Global Class C ordinary shares, irrespective of the form in which Liberty Global elects to satisfy the receivable. Liberty Global Class A and Liberty Global Class C ordinary shares contributed by the employer can be transferred by participants to any investment in the Plan, except for the Fidelity Cash Reserves Money Market Fund accounts and funds holding LiLAC Shares, which are not open for investment. Employer contributions that are not directed by the participant remain in Liberty Global Class C ordinary shares.
Rollovers
Participants may elect to rollover amounts from other qualified plans or individual retirement accounts into the Plan provided that certain conditions are met.
Notes Receivable from Participants (Participant Loans)
Participants may borrow from their fund accounts a minimum of $1,000 up to the lesser of (i) $50,000 or (ii) the greater of 50% of their vested account balance or $10,000 (if the participant is vested in at least $10,000). Unless the loan is for the purchase of a participant’s primary residence, loans must be repaid within five years and bear interest at a rate equal to the prime rate in effect on the first day of the calendar quarter in which the loan is originated, plus 1%. Loans transferred from other plans retain the repayment terms and interest rates in effect at the time of transfer. Loans are secured by the vested balance in the participant’s account, and bear interest at 4.25% at December 31, 2015. Principal and interest are paid ratably through bi-weekly payroll deductions.
Forfeitures
Forfeitures of employer contributions (due to a participant’s termination prior to full vesting) are used to offset future matching contributions and to pay Plan administrative expenses other than participant loan fees (if any). During 2015 and 2014, forfeitures of $17,157 and $173,353, respectively, were used to offset employer contributions. Unallocated forfeitures available as of December 31, 2015 and 2014 were $5,916 and $19,011, respectively. At December 31, 2015, the employer contributions receivable recorded in our statement of net assets available for Plan benefits is reduced by forfeitures of $9,800.
Investment Options
As of December 31, 2015, the Plan had various investment options, including 26 mutual funds, two employer share funds and one money market fund. Plan participants may change investment options on any day that the applicable exchange is open for trading. Plan participants may not invest in the Fidelity Cash Reserves Money Market Fund or funds holding LiLAC Shares.
Benefit Payments
Distributions from the Plan may be made to a participant upon attaining the age of 59½, death, total disability and financial hardship (as defined in the Plan document) or termination of employment. Distributions and other withdrawals are processed on a daily basis. Benefits may be paid in a lump-sum, or in installments, and employer shares may be received in-kind. In-kind distributions are priced at fair value and are accounted for when shares are transferred by the Trustee to participants. Certain other in-service distributions are allowed if certain criteria are met.
Vesting
Participant contributions are always fully vested. Participants acquire a vested right in employer matching contributions as follows:
| Years of service | Vesting percentages | |
| Less than 1 | — | % |
| 1 | 33 | % |
| 2 | 66 | % |
| 3 or more | 100 | % |
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LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
Notes to Financial Statements — (Continued)
Employer contributions become fully vested when a participant (i) attains the normal retirement age of 65, (ii) terminates employment due to total disability or (iii) dies.
Plan Termination
Although LGI has not expressed any intent to terminate the Plan, it may do so at any time, subject to the provisions of ERISA. The Plan provides for full and immediate vesting of all participant rights upon termination of the Plan.
Participant Accounts
Participant accounts are credited with the participant’s contributions, employer contributions and earnings on investments and are charged with participant withdrawals, losses on investments, distributions and loan and distribution fees. The investment earnings or losses of each investment fund are allocated to each participant’s account in accordance with the Plan document.
(2) Accounting Changes
In July 2015, the Financial Accounting Standards Board issued Accounting Standards Update No. 2015-12, Plan Accounting (ASU 2015-12). ASU 2015-12 (i) eliminates the requirement to disclose individual investments that represent five percent or more of net assets available for benefits and (ii) simplifies the level of disaggregation of investments that are measured using fair value by eliminating the requirements to (a) disaggregate investments by nature, characteristics and risks and (b) provide net appreciation or depreciation by investment type. ASU 2015-12 is effective for reporting periods beginning after December 15, 2015, with early adoption permitted. We adopted ASU 2015-12 on January 1, 2015 and applied the standard retrospectively for all periods presented. The adoption did not have a material impact on the Plan’s financial statements.
(3) Summary of Significant Accounting Policies
Basis of Presentation
The accompanying financial statements of the Plan have been prepared on the accrual basis and present the net assets available for Plan benefits and the changes in those net assets.
Investments
Investments are reflected in the accompanying financial statements at fair value. The Plan Committee (as defined in the Plan document) determines the Plan’s valuation policies utilizing information provided by the investment advisors, the custodian, and the Trustee. For additional information, see note 4.
Net appreciation or depreciation in fair value of investments as reflected in the accompanying statement of changes in net assets available for Plan benefits is determined as the difference between fair value at the beginning of the period (or date purchased during the year) and selling price or year-end fair value and includes any capital gain distributions.
Securities and investment transactions are accounted for on the trade date. The cost basis of shares distributed is determined using the moving average method. Dividend income is recorded on the ex-dividend date. Income from other investments is recorded as earned on an accrual basis.
Income Taxes
The Plan has adopted a Fidelity “volume submitter” plan. Fidelity received an IRS advisory letter for the volume submitter plan on March 31, 2014, stating that the Plan is qualified and the trust is tax-exempt. The Plan administrator believes that the Plan, as amended, is designed and is currently being operated in compliance with the applicable requirements of the IRS. Therefore, no provision for income taxes has been included in the Plan’s financial statements.
Accounting principles generally accepted in the United States (GAAP) require Plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain tax position that more-likely-than-not would not be sustained upon examination by the IRS. The Plan administrator has analyzed the tax positions taken by the Plan, and has concluded as of December 31, 2015 that there are no uncertain tax positions taken or expected to be taken that would
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LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
Notes to Financial Statements — (Continued)
require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.
Voting Rights of Liberty Global Ordinary Shares
Fidelity holds Liberty Global ordinary shares, including both Liberty Global Shares and LiLAC Shares, on behalf of the Plan. Each participant or beneficiary of a deceased participant shall have the right to direct the Trustee as to the manner of voting and exercise of all other rights, which a shareholder of record has with respect to Liberty Global ordinary shares, which have been allocated to the participant’s account. For all other investments in the Plan, Fidelity has the right to vote any shares.
Use of Estimates
The preparation of financial statements in conformity with GAAP requires Plan management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of additions and deductions during the reporting period. Actual results could differ from those estimates.
Notes Receivable from Participants (Participant Loans)
Notes receivable from participants are measured at their unpaid principal balance, plus any accrued and unpaid interest. Interest income is recorded on the accrual basis. Related fees are recorded as administrative expenses and are expensed as incurred. No allowance for credit losses has been recorded as of December 31, 2015 or 2014. If a participant ceases to make loan repayments and the Plan administrator deems the the participant loan to be in default, the participant loan balance is reduced and a benefit payment is recorded. Delinquent participant loans are reclassified to distributions to participants based on the terms of the Plan document.
Plan Expenses
Any forfeited employer contributions may be used to offset employer matching contributions, and then to pay Plan expenses, if any, except for participant loan, distribution or asset-based fees, which are paid by the respective participants. Other administrative expenses of the Plan are paid directly by LGI and, accordingly, are not included in the Plan financial statements. No Trustee or recordkeeping fees were paid to Fidelity through the forfeiture account during 2015. Loan, distribution and asset-based fees paid by participants were $13,743 during 2015.
Payment of Benefits
Benefits are recorded when paid.
Contributions
Participant contributions and related employer contributions are recognized during the period in which the respective payroll deductions are made.
Related-party/Party-in-interest Transactions
Under the terms of a trust agreement between LGI and the Trustee, the Trustee manages certain funds on behalf of the Plan and has been granted authority concerning purchases and sales of investments for the trust funds. Certain of the Plan’s investments are mutual funds and money market funds managed by Fidelity. In addition, there are four employer share funds, which comprise Liberty Global ordinary shares. Notes receivable from participants are also party-in-interest transactions. Certain mutual funds may receive income in the form of revenue sharing as well as pay certain investment management fees from the fund. These are added to or deducted from the net asset value of the shares of the mutual funds held by the Plan and are reflected in the net appreciation or depreciation of those funds. During 2015, fees of $13,743 were paid to Fidelity. Transactions in such investments qualify as party-in-interest transactions, which are exempt from the prohibited transaction rules.
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LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
Notes to Financial Statements — (Continued)
(4) Fair Value Measurements
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 investments that the Plan 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 Plan’s investments, either directly or indirectly. Level 3 inputs are unobservable inputs for the Plan’s investments. The Plan records transfers of investments in or out of Levels 1, 2 or 3 at the beginning of the quarter during which the transfer occurred. During the year ended December 31, 2015, no such transfers were made.
The following is a description of the valuation methodology used for the investments measured at fair value, including the general classification of such instruments pursuant to the valuation hierarchy.
Money market funds, mutual funds and employer shares. As of December 31, 2015 and 2014, all Plan investments were measured at fair value. These investments are valued at quoted market prices in an exchange and active market, which represent the net asset values of shares held by the Plan at year end and the Plan concludes that these investments should be classified as Level 1 investments.
The preceding method described may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the Plan has concluded that its valuation method is appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.
A summary of Plan investments measured at fair value is as follows:
| Quoted prices in active markets for identical assets (Level 1) | |||||||
| December 31, | |||||||
| Description | 2015 | 2014 | |||||
| Mutual funds | $ | 26,875,159 | $ | 26,374,947 | |||
| Employer shares | 16,722,515 | 18,252,925 | |||||
| Money market funds | 1,678,324 | 1,558,003 | |||||
| Total | $ | 45,275,998 | $ | 46,185,875 | |||
(5) Concentrations, Risks and Uncertainties
The Plan invests in (i) various money market and mutual funds and (ii) ordinary shares of Liberty Global. Investment securities are exposed to various risks, such as interest rate, credit and overall market volatility risks. Additionally, the value, liquidity and related income of the investment securities are sensitive to changes in economic conditions, including delinquencies or defaults, and may be adversely affected by shifts in the market’s perception of the issuers or changes in interest rates. Liberty Global Shares and LiLAC Shares are also exposed to risks specific to Liberty Global, including the Liberty Global Group and the LiLAC Group. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the statements of net assets available for Plan benefits. Investment in the ordinary shares of Liberty Global represented 37% and 39% of the net assets available for Plan benefits as of December 31, 2015 and 2014, respectively. Accordingly, price fluctuations in the ordinary shares of Liberty Global can have a significant impact on the Plan’s net assets available for Plan benefits.
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LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
Notes to Financial Statements — (Continued)
(6) Reconciliations of Financial Statements to Form 5500
The following are reconciliations of (i) investments and (ii) total investment loss, net, per the accompanying financial statements to Form 5500:
| December 31, | |||||||
| 2015 | 2014 | ||||||
| Total investments per the accompanying financial statements | $ | 45,275,998 | $ | 46,185,875 | |||
| Adjustment to show notes receivable from participants as an investment | 133,458 | 213,377 | |||||
| Total investments per Form 5500 (unaudited) | $ | 45,409,456 | $ | 46,399,252 | |||
| Year ended December 31, 2015 | |||||||
| Total investment loss, net per the accompanying financial statements | $ | (2,543,939 | ) | ||||
| Adjustment to show interest income on notes receivable from participants as investment income | 7,998 | ||||||
| Total investment loss, net per Form 5500 (unaudited) | $ | (2,535,941 | ) | ||||
(7) Subsequent Event
On May 16, 2016, Liberty Global acquired Cable & Wireless Communications Plc (subsequently re-registered as Cable & Wireless Communications Limited, a private company) for shares of Liberty Global in a scheme of arrangement pursuant to Rule 2.7 of the U.K. City Code on Takeovers and Mergers (the CWC Acquisition). As consideration for the CWC Acquisition, Liberty Global issued an aggregate of 31,607,008 Liberty Global Class A Shares, 77,379,774 Liberty Global Class C Shares, 3,648,513 LiLAC Class A Shares and 8,939,316 LiLAC Class C Shares.
On June 2, 2016, Liberty Global announced that its Board of Directors has approved the elimination of Liberty Global Group’s 67.2% inter-group interest in the LiLAC Group by distributing, on a prorata basis, LiLAC Shares to Liberty Global Group shareholders. The inter-group interest resulted from the CWC Acquisition. The distribution date will be July 1, 2016. In the distribution (which is a “bonus issue” under U.K. law), each holder of a Liberty Global Class A, Class B and Class C Share as of 5:00 p.m., New York City time, on June 17, 2016, the record date for the distribution, will receive a fraction of a LiLAC Share of the corresponding class.
No determinations have been made regarding the impacts, if any, of the CWC Acquisition on the Plan.
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LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
FORM 5500, SCHEDULE H, Part IV, Line 4i
EIN 46-1947033, Plan Number 001
December 31, 2015
Supplemental Schedule 1
| Identity of Issuer, Borrower, Lessor or Similar Party | Description of Investment | Shares | Current Value | |||||||
| * | Liberty Global Class C ordinary shares | Ordinary shares | 358,265 | $ | 14,606,477 | |||||
| American Funds Growth Fund of America Class R6 | Mutual fund | 79,337 | 3,275,823 | |||||||
| * | Spartan 500 Index Fund | Mutual fund | 32,549 | 2,336,989 | ||||||
| The Oakmark Equity and Income Fund | Mutual fund | 80,805 | 2,308,592 | |||||||
| Artisan International Fund | Mutual fund | 73,415 | 2,118,034 | |||||||
| Dodge & Cox Stock Fund | Mutual fund | 12,109 | 1,971,012 | |||||||
| Baron Growth Fund Institutional Shares | Mutual fund | 27,488 | 1,767,737 | |||||||
| * | Fidelity Retirement Government Market II Portfolio | Money market fund | 1,676,070 | 1,676,070 | ||||||
| * | Fidelity Freedom 2030 Fund | Mutual fund | 109,316 | 1,566,497 | ||||||
| Allianz NFJ Small Cap Value Fund Institutional Class | Mutual fund | 70,716 | 1,550,807 | |||||||
| * | Spartan Extended Market Index Fund | Mutual fund | 29,451 | 1,478,444 | ||||||
| * | Liberty Global Class A ordinary shares | Ordinary shares | 30,709 | 1,300,813 | ||||||
| PIMCO High Yield Fund Institutional Class | Mutual fund | 133,587 | 1,103,430 | |||||||
| Metropolitan West Total Return Bond Fund | Mutual fund | 110,129 | 1,101,293 | |||||||
| * | Spartan International Index Fund | Mutual fund | 26,767 | 961,752 | ||||||
| * | Fidelity Freedom 2020 Fund | Mutual fund | 60,093 | 812,455 | ||||||
| * | Fidelity Freedom 2025 Fund | Mutual fund | 57,109 | 805,232 | ||||||
| * | LiLAC Class C ordinary shares | Ordinary shares | 17,512 | 753,001 | ||||||
| * | Fidelity Freedom 2040 Fund | Mutual fund | 45,457 | 672,304 | ||||||
| * | Fidelity Freedom 2035 Fund | Mutual fund | 45,312 | 668,808 | ||||||
| * | Fidelity Inflation Protected Bond Fund | Mutual fund | 47,733 | 555,139 | ||||||
| * | Fidelity Freedom Income Fund | Mutual fund | 39,546 | 449,247 | ||||||
| * | Fidelity Freedom 2050 Fund | Mutual fund | 28,200 | 432,302 | ||||||
| * | Fidelity Freedom 2015 Fund | Mutual fund | 26,850 | 343,684 | ||||||
| Vanguard Short-Term Bond Index Fund | Mutual fund | 21,698 | 226,312 | |||||||
| DFA Global Real Estate Securities Portfolio | Mutual fund | 17,275 | 177,411 | |||||||
| * | Fidelity Freedom 2045 Fund | Mutual fund | 7,563 | 115,037 | ||||||
| * | LiLAC Class A ordinary shares | Ordinary shares | 1,504 | 62,224 | ||||||
| * | Fidelity Freedom 2055 Fund | Mutual fund | 2,916 | 33,093 | ||||||
| * | Fidelity Freedom 2010 Fund | Mutual fund | 2,135 | 26,348 | ||||||
| * | Fidelity Freedom 2005 Fund | Mutual fund | 1,404 | 17,377 | ||||||
| * | Fidelity Cash Reserves Money Market Fund | Money market fund | 2,254 | 2,254 | ||||||
• | Total investments | 45,275,998 | ||||||||
| * | Notes receivable from participants | Interest rate of 4.25%, various maturity dates | 133,458 | |||||||
| Total assets held at the end of the year | $ | 45,409,456 | ||||||||
_______________
| * | Party-in-interest as defined by ERISA. |
See accompanying report of independent registered public accounting firm.
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LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the members of the Plan Committee have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
| LIBERTY GLOBAL 401(K) SAVINGS | |
| AND STOCK OWNERSHIP PLAN | |
| By: | /s/ MICHELLE L. KEIST |
Michelle L. Keist Vice President, Legal for Liberty Global, Inc. as Plan Sponsor | |
June 23, 2016
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LIBERTY GLOBAL 401(K) SAVINGS AND STOCK OWNERSHIP PLAN
EXHIBIT INDEX
Shown below is the exhibit, which is filed or furnished as a part of this Report—
23.1 – Consent of Independent Registered Public Accounting Firm – Anton Collins Mitchell LLP
12