v3.3.1.900

Defined Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract] |
Schedule of funded status of our pension plans | The following is a summary of the funded status of our defined benefit plans:
| Year ended December 31,
| 2014 |  | 2013
| in millions
Projected benefit obligation at beginning of period | $ | 1,163.0 |  |  | $ | 384.6 |
Acquisition (a) | — |  |  | 687.1 |
Service cost | 22.3 |  |  | 25.8 |
Prior service cost | 0.8 |  |  | — |
Interest cost | 42.9 |  |  | 26.8 |
Actuarial loss (gain) | 149.7 |  |  | (4.8 | )
Participants’ contributions | 11.9 |  |  | 11.8 |
Benefits paid | (38.7 | ) |  | (28.1 | )
Effect of changes in exchange rates | (104.3 | ) |  | 59.8 |
Projected benefit obligation at end of period | $ | 1,247.6 |  |  | $ | 1,163.0 |
Accumulated benefit obligation at end of period | $ | 1,226.1 |  |  | $ | 1,144.7 |
Fair value of plan assets at beginning of period | $ | 1,057.0 |  |  | $ | 310.9 |
Acquisition (a) | — |  |  | 626.0 |
Actual earnings of plan assets | 114.6 |  |  | 37.0 |
Group contributions | 68.2 |  |  | 44.6 |
Participants’ contributions | 11.9 |  |  | 11.8 |
Benefits paid | (37.9 | ) |  | (27.6 | )
Effect of changes in exchange rates | (91.1 | ) |  | 54.3 |
Fair value of plan assets at end of period | $ | 1,122.7 |  |  | $ | 1,057.0 |
Net liability (b) | $ | 124.9 |  |  | $ | 106.0 |
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(a) | The 2013 amount relates to the Virgin Media Acquisition.
(b) | The net liability related to our defined benefit plans is included in other long-term liabilities in our consolidated balance sheets.
Schedule of change in the amount of net actuarial gain not yet recognized as a component of net periodic pension costs in our consolidated statements of operations | The change in the amount of net actuarial gain (loss) not yet recognized as a component of net periodic pension costs in our consolidated statements of operations is as follows:
| Pre-tax amount |  | Tax benefit (expense) |  | Net-of-tax amount
| in millions
Balance of net actuarial loss at January 1, 2013 | $ | (5.2 | ) |  | $ | 1.6 |  |  | $ | (3.6 | )
Net actuarial gain | 12.7 |  |  | (1.4 | ) |  | 11.3 |
Amount recognized as a component of net loss attributable to Liberty Global shareholders | (0.8 | ) |  | 0.1 |  |  | (0.7 | )
Changes in ownership and other | (0.6 | ) |  | 0.2 |  |  | (0.4 | )
Balance of net actuarial gain at December 31, 2013 | 6.1 |  |  | 0.5 |  |  | 6.6 |
Net actuarial loss | (87.6 | ) |  | 16.7 |  |  | (70.9 | )
Amount recognized as a component of net loss attributable to Liberty Global shareholders | (1.7 | ) |  | 0.3 |  |  | (1.4 | )
Changes in ownership and other | 0.2 |  |  | — |  |  | 0.2 |
Balance of net actuarial loss at December 31, 2014 | $ | (83.0 | ) |  | $ | 17.5 |  |  | $ | (65.5 | )
Schedule of weighted average assumptions used in determining benefit obligations | The weighted average assumptions used in determining benefit obligations and net periodic pension cost are as follows:
| December 31,
| 2014 |  | 2013
Expected rate of salary increase | 2.6 | % |  | 3.1 | %
Discount rate | 2.6 | % |  | 3.8 | %
Expected rate of return on plan assets | 4.0 | % |  | 5.1 | %
Schedule of components of net periodic pension cost recorded in our consolidated statements of operations | The components of net periodic pension cost recorded in our consolidated statements of operations are as follows:
| Year ended December 31,
| 2014 |  | 2013
| in millions
Service cost | $ | 22.3 |  |  | $ | 25.8 |
Interest cost | 42.9 |  |  | 26.8 |
Expected return on plan assets | (53.7 | ) |  | (30.0 | )
Other | (1.9 | ) |  | (1.1 | )
Net periodic pension cost | $ | 9.6 |  |  | $ | 21.5 |
Schedule of weighted average asset allocations by asset category and by fair value hierarchy level and weighted average target mix established for funded plans | The asset allocation by asset category and by fair value hierarchy level (as further described in note 8) of our plan assets is as follows:
| December 31, 2014
| Total |  | Level 1 |  | Level 2 |  | Level 3
| in millions
Equity securities | $ | 353.8 |  |  | $ | 353.8 |  |  | $ | — |  |  | $ | — |
Debt securities | 318.8 |  |  | 318.8 |  |  | — |  |  | — |
Insurance contract (a) | 158.0 |  |  | — |  |  | — |  |  | 158.0 |
Hedge funds | 136.5 |  |  | 120.1 |  |  | 16.4 |  |  | — |
Guarantee investment contracts | 86.0 |  |  | 86.0 |  |  | — |  |  | — |
Real estate | 39.9 |  |  | 32.9 |  |  | — |  |  | 7.0 |
Other | 29.7 |  |  | 29.7 |  |  | — |  |  | — |
Total | $ | 1,122.7 |  |  | $ | 941.3 |  |  | $ | 16.4 |  |  | $ | 165.0 |
| December 31, 2013
| Total |  | Level 1 |  | Level 2 |  | Level 3
| in millions
Equity securities | $ | 344.3 |  |  | $ | 344.3 |  |  | $ | — |  |  | $ | — |
Debt securities | 275.5 |  |  | 275.5 |  |  | — |  |  | — |
Insurance contract (a) | 153.4 |  |  | — |  |  | — |  |  | 153.4 |
Hedge funds | 133.1 |  |  | 117.8 |  |  | 15.3 |  |  | — |
Guarantee investment contracts | 83.0 |  |  | 83.0 |  |  | — |  |  | — |
Real estate | 36.7 |  |  | 28.9 |  |  | — |  |  | 7.8 |
Other | 31.0 |  |  | 31.0 |  |  | — |  |  | — |
Total | $ | 1,057.0 |  |  | $ | 880.5 |  |  | $ | 15.3 |  |  | $ | 161.2 |
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(a) | Relates to the purchase of an insurance contract authorized by the trustee of one of our defined benefit plans. The insurance contract will pay an income stream to the plan that is expected to match all future cash outflows with respect to certain liabilities. The fair value of this insurance contract is presented as an asset of the plan and is measured based on the future cash flows to be received under the contract discounted using the same discount rate used to measure the associated liabilities.
Schedule of reconciliation of the beginning and ending balances of our plan assets measured at fair value using Level 3 inputs | A reconciliation of the beginning and ending balances of our plan assets measured at fair value using Level 3 inputs is as follows (in millions):
Balance at January 1, 2014 | $ | 161.2 |
Actual return on plan assets: |
Gains relating to assets still held at year-end | 14.6 |
Purchases, sales and settlements of investments, net | (1.2 | )
Foreign currency translation adjustments | (9.6 | )
Balance at December 31, 2014 | $ | 165.0 |
Schedule of expected benefits to be paid during the next ten years with respect to our defined benefit pension plans | As of December 31, 2014, the benefits that we currently expect to pay during the next ten years with respect to our defined benefit plans are as follows (in millions):
2015 | $ | 33.2 |
2016 | $ | 31.2 |
2017 | $ | 32.5 |
2018 | $ | 31.9 |
2019 | $ | 32.2 |
2020 through 2024 | $ | 176.5 |

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- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=58740216&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=58740216&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=58740216&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=58740216&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=58740216&loc=d3e1928-114920 + Details
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