v3.10.0.1
Investments (Tables)
 6 Months Ended
Jun. 30, 2018
Investments [Abstract]  
Schedule of Investments by Accounting Method The details of our investments are set forth below:
Accounting Method
 
June 30,
2018
 
December 31,
2017
 
in millions
Equity (a):
 
 
 
VodafoneZiggo JV (b)
$
3,993.0

 
$
4,162.8

Other
160.7

 
161.8

Total — equity
4,153.7

 
4,324.6

Fair value:
 
 
 
ITV plc (ITV) — subject to re-use rights
914.9

 
892.0

Sumitomo Corporation (Sumitomo)
600.0

 
776.5

ITI Neovision S.A.
163.8

 
161.9

Lions Gate Entertainment Corp (Lionsgate)
120.7

 
163.9

Casa Systems, Inc. (Casa)
72.4

 
76.3

Other
292.3

 
244.7

Total — fair value
2,164.1

 
2,315.3

Cost (c)
—

 
31.5

Total
$
6,317.8

 
$
6,671.4

_______________

(a)
At June 30, 2018 and December 31, 2017, the carrying amounts of each of our equity method investments did not materially exceed our proportionate share of the respective investee’s net assets.

(b)
Amounts include a related-party euro-denominated note receivable (the VodafoneZiggo JV Receivable) with a principal amount of $1,050.9 million and $1,081.9 million, respectively, due from a subsidiary of the VodafoneZiggo JV (as defined below) to a subsidiary of Liberty Global. The VodafoneZiggo JV Receivable bears interest at 5.55% and requires €100.0 million ($116.8 million) of principal to be paid annually through December 31, 2019, with the remaining principal due on January 16, 2027. The accrued interest on the VodafoneZiggo JV Receivable will be payable in a manner mutually agreed upon by Liberty Global and the VodafoneZiggo JV. During the six months ended June 30, 2018, interest accrued on the VodafoneZiggo JV Receivable was $30.2 million, all of which has been cash settled.

(c)
As a result of the January 1, 2018 adoption of ASU 2016-01, all of our cost investments have been reclassified to fair value investments.
Equity Method Investments The following table sets forth the details of our share of losses of affiliates, net:
 
Three months ended June 30,
 
Six months ended
June 30,
 
2018
 
2017
 
2018
 
2017
 
in millions
 
 
 
 
 
 
 
 
VodafoneZiggo JV (a)
$
(63.2
)
 
$
6.5

 
$
(90.0
)
 
$
5.2

Other
(19.1
)
 
(10.1
)
 
(28.8
)
 
(24.5
)
Total
$
(82.3
)

$
(3.6
)
 
$
(118.8
)
 
$
(19.3
)
_______________

(a)
Amounts include the net effect of (i) 100% of the interest income earned on the VodafoneZiggo JV Receivable, (ii) 100% of the share-based compensation expense associated with Liberty Global awards held by VodafoneZiggo JV employees who were formerly employees of Liberty Global, as these awards remain our responsibility, and (iii) our 50% share of the remaining results of operations of the VodafoneZiggo JV.The summarized results of operations of the VodafoneZiggo JV are set forth below:
 
Three months ended
 
Six months ended
 
June 30,
 
June 30,
 
2018
 
2017
 
2018
 
2017
 
in millions
 
 
 
 
 
 
 
 
Revenue
$
1,114.5

 
$
1,081.3

 
$
2,296.1

 
$
2,165.2

Loss before income taxes
$
(201.2
)
 
$
(25.8
)
 
$
(319.8
)
 
$
(69.1
)
Net loss
$
(150.8
)
 
$
(18.3
)
 
$
(238.1
)
 
$
(48.6
)