v3.10.0.1

Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of stock-based compensation

A summary of our aggregate share-based compensation expense is set forth below:

	Year ended December 31,
	2018				2017				2016
	in millions
Liberty Global:
Performance-based incentive awards (a)	$	50.8			$	23.9			$	150.6
Non-performance based share-based incentive awards	90.1				93.8				96.4
Other (b)	43.4				13.7				—
Total Liberty Global	184.3				131.4				247.0
Telenet share-based incentive awards (c)	19.6				20.7				12.2
Other	2.1				10.1				8.9
Total	$	206.0			$	162.2			$	268.1
Included in:
Other operating expenses	$	4.4			$	4.7			$	3.4
SG&A expenses	201.6				157.5				264.7
Total	$	206.0			$	162.2			$	268.1

_______________

(a) Includes share-based compensation expense related to (i) PSUs, (ii) in 2016, a challenge performance award plan for certain executive officers and key employees (the Challenge Performance Awards) and (iii) through March 2017, the PGUs held by our Chief Executive Officer. The Challenge Performance Awards included PSARs and PSUs.

(b) Represents annual incentive compensation and defined contribution plan liabilities that have been or are expected to be settled with Liberty Global ordinary shares. In the case of the annual incentive compensation, shares will be issued to senior management and key employees pursuant to a shareholding incentive program that was implemented in the fourth quarter of 2017. The shareholding incentive program allows these employees to elect to receive up to 100% of their annual incentive compensation in ordinary shares of Liberty Global in lieu of cash.

(c)

Represents the share-based compensation expense associated with Telenet’s share-based incentive awards, which, at December 31, 2018, included performance- and non-performance-based stock option awards with respect to 4,494,002 Telenet shares. These stock option awards had a weighted average exercise price of €42.50 ($48.67).

Stock compensation assumptions

The following table summarizes certain information related to the share-based incentive awards granted and exercised with respect to Liberty Global ordinary shares (includes amounts related to awards held by employees of our discontinued operations, unless otherwise noted):

	Year ended December 31,
	2018				2017				2016
Assumptions used to estimate fair value of options, SARs and PSARs granted:
Risk-free interest rate	2.68 - 2.92%				1.66 - 2.16%				0.88 - 1.49%
Expected life	3.0 - 4.2 years				3.0 - 6.4 years				3.1 - 5.5 years
Expected volatility	30.2 - 33.6%				25.9 - 37.9%				27.4 - 42.9%
Expected dividend yield	none				none				none
Weighted average grant-date fair value per share of awards granted:
Options	$	8.99			$	9.40			$	10.40
SARs	$	7.92			$	8.60			$	8.60
RSUs	$	28.72			$	31.24			$	36.67
PSUs	$	23.60			$	26.59			$	33.97
Total intrinsic value of awards exercised (in millions):
Options	$	3.8			$	13.4			$	16.9
SARs and PSARs	$	22.5			$	74.8			$	42.9
Cash received from exercise of options (in millions)	$	5.7			$	11.7			$	17.4
Income tax benefit related to share-based compensation of our continuing operations (in millions)	$	18.6			$	9.8			$	51.1

Stock options activity

		Number of awards			Weighted Average exercise or base price				Weighted Average remaining contractual term		Aggregate intrinsic value
Options and SARs:
Class A
Outstanding		1,198,985			$	32.74			2.9		$	0.1
Exercisable		1,017,362			$	32.26			2.6		$	0.1
Class C
Outstanding		2,819,203			$	30.54			2.7		$	0.3
Exercisable		2,455,257			$	29.98			2.4		$	0.3

The following tables summarize the share-based award activity during 2018 with respect to awards issued by Liberty Global:

Options — Class A ordinary shares		Number of awards			Weighted average exercise price				Weighted average remaining contractual term		Aggregate intrinsic  value
									in years		in millions
Outstanding at January 1, 2018		580,481			$	25.54
Granted		71,469			$	30.14
Forfeited		(1,713	)		$	22.43
Exercised		(69,983	)		$	13.97
Outstanding at December 31, 2018		580,254			$	27.51			3.7		$	1.4
Exercisable at December 31, 2018		417,608			$	26.26			2.9		$	1.4

Options — Class C ordinary shares		Number of awards			Weighted average exercise price				Weighted average remaining contractual term		Aggregate intrinsic  value
									in years		in millions
Outstanding at January 1, 2018		2,725,566			$	25.58
Granted		770,691			$	24.82
Forfeited		(591,662	)		$	30.07
Exercised		(237,089	)		$	17.49
Outstanding at December 31, 2018		2,667,506			$	25.09			2.9		$	3.9
Exercisable at December 31, 2018		2,161,408			$	24.16			2.3		$	3.9

SARs — Class A ordinary shares		Number of awards			Weighted average base price				Weighted average remaining contractual term		Aggregate intrinsic  value
									in years		in millions
Outstanding at January 1, 2018		13,524,075			$	32.72
Granted		3,286,731			$	29.81
Forfeited		(898,390	)		$	34.77
Exercised		(603,854	)		$	21.75
Outstanding at December 31, 2018		15,308,562			$	32.41			3.7		$	0.7
Exercisable at December 31, 2018		9,837,206			$	32.38			2.7		$	0.7

SARs — Class C ordinary shares		Number of awards			Weighted average base price				Weighted average remaining contractual term		Aggregate intrinsic  value
									in years		in millions
Outstanding at January 1, 2018		31,305,136			$	30.60
Granted		6,573,462			$	28.86
Forfeited		(1,797,629	)		$	33.54
Exercised		(1,678,989	)		$	20.35
Outstanding at December 31, 2018		34,401,980			$	30.61			3.5		$	2.2
Exercisable at December 31, 2018		23,452,476			$	30.21			2.4		$	2.2

RSUs — Class A ordinary shares		Number of awards			Weighted average grant-date fair value per share				Weighted average remaining contractual term
									in years
Outstanding at January 1, 2018		511,061			$	35.81
Granted		370,355			$	29.36
Forfeited		(59,319	)		$	35.04
Released from restrictions		(239,723	)		$	35.66
Outstanding at December 31, 2018		582,374			$	31.85			2.4

Other-than-options activity

RSUs — Class A ordinary shares		Number of awards			Weighted average grant-date fair value per share				Weighted average remaining contractual term
									in years
Outstanding at January 1, 2018		511,061			$	35.81
Granted		370,355			$	29.36
Forfeited		(59,319	)		$	35.04
Released from restrictions		(239,723	)		$	35.66
Outstanding at December 31, 2018		582,374			$	31.85			2.4

RSUs — Class C ordinary shares		Number of awards			Weighted average grant-date fair value per share				Weighted average remaining contractual term
									in years
Outstanding at January 1, 2018		1,007,313			$	34.60
Granted		740,710			$	28.40
Forfeited		(118,764	)		$	28.17
Released from restrictions		(466,908	)		$	35.33
Outstanding at December 31, 2018		1,162,351			$	31.02			2.4

PSUs — Class A ordinary shares		Number of awards			Weighted average grant-date fair value per share				Weighted average remaining contractual term
									in years
Outstanding at January 1, 2018		1,934,795			$	31.00
Granted		1,177,392			$	24.01
Forfeited		(206,110	)		$	30.20
Released from restrictions		(1,433	)		$	37.45
Outstanding at December 31, 2018		2,904,644			$	28.22			1.2

PSUs — Class C ordinary shares		Number of awards			Weighted average grant-date fair value per share				Weighted average remaining contractual term
									in years
Outstanding at January 1, 2018		3,875,732			$	30.01
Granted		2,354,784			$	23.39
Forfeited		(413,213	)		$	29.21
Released from restrictions		(2,866	)		$	36.32
Outstanding at December 31, 2018		5,814,437			$	27.39			1.2

		Number of awards			Weighted Average grant date fair value per share				Weighted Average remaining contractual term
Outstanding RSUs and PSUs:
Class A
RSUs		9,426			$	36.73			1.4
PSUs		172,429			$	30.29			0.8
Class C
RSUs		18,882			$	36.44			1.4
PSUs		345,210			$	29.32			0.8

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Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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Tabular disclosure of the changes in other outstanding share-based compensation awards other than stock options or nonvested awards.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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