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Investments (Tables)
 12 Months Ended
Dec. 31, 2019
Investments [Abstract]  
Schedule of Investments by Accounting Method

The details of our investments are set forth below:
 
 
December 31,
Accounting Method
 
2019
 
2018
 
in millions
Equity (a):
 
 
 
VodafoneZiggo JV (b)
$
3,174.1

 
$
3,761.5

All3Media Group (All3Media)
172.8

 
72.2

Formula E Holdings Ltd (Formula E)
105.2

 
45.4

Other
40.7

 
67.9

Total — equity
3,492.8

 
3,947.0

Fair value:
 
 
 
ITV plc (ITV) — subject to re-use rights (c)
798.1

 
634.2

ITI Neovision S.A. (ITI Neovision)
122.4

 
125.4

Lions Gate Entertainment Corp (Lionsgate) (c)
68.0

 
77.5

Casa Systems, Inc. (Casa)
3.1

 
39.5

Other
297.6

 
298.2

Total — fair value
1,289.2

 
1,174.8

Total
$
4,782.0

 
$
5,121.8


_______________

(a)
Our equity method investments are originally recorded at cost and are adjusted to recognize our share of net earnings or losses of affiliates as they occur rather than as dividends or other distributions are received, with our recognition of losses generally limited to the extent of our investment in, and advances and commitments to, the investee. At December 31, 2019 and 2018, the aggregate carrying amounts of our equity method investments exceeded our proportionate share of the respective investee’s net assets by $1,041.0 million and $1,016.9 million, respectively, which include amounts associated with the VodafoneZiggo JV Receivable, as defined and described below, and amounts we are owed under a long-term note receivable from All3Media.

(b)
Amounts include a euro-denominated note receivable (the VodafoneZiggo JV Receivable) with a principal amount of $786.1 million and $916.1 million, respectively, due from a subsidiary of the VodafoneZiggo JV to a subsidiary of Liberty Global. The VodafoneZiggo JV Receivable bears interest at 5.55% and matures on January 16, 2028. In each of 2019, 2018 and 2017, we received a €100.0 million principal payment on the VodafoneZiggo JV Receivable ($112.1 million, $114.5 million and $118.5 million at the respective transaction dates). During 2019, interest accrued on the VodafoneZiggo JV Receivable was $50.4 million, all of which was cash settled.

(c)
In connection with our investments in ITV and Lionsgate, we have entered into the ITV Collar and Lionsgate Forward, respectively, as defined and described below.

Fair Value Investments

The following table sets forth the details of our realized and unrealized gains (losses) due to changes in fair values of certain investments, net:
 
Year ended December 31,
 
2019
 
2018
 
2017
 
in millions
ITV
$
163.9

 
$
(257.8
)
 
$
(123.5
)
Lionsgate
(25.0
)
 
(86.4
)
 
35.3

Casa
(24.2
)
 
(9.2
)
 
47.9

ITI Neovision
2.7

 
(24.9
)
 
15.8

Sumitomo
—

 
(3.4
)
 
238.2

Other, net
(18.4
)
 
(11.5
)
 
14.4

Total
$
99.0

 
$
(393.2
)
 
$
228.1
Equity Method Investments
The summarized results of operations of the VodafoneZiggo JV are set forth below:
 
Year ended December 31,
 
2019
 
2018
 
2017
 
in millions
 
 
 
 
 
 
Revenue
$
4,407.8

 
$
4,602.2

 
$
4,512.5

Loss before income taxes
$
(512.5
)
 
$
(467.8
)
 
$
(362.9
)
Net loss
$
(470.0
)
 
$
(91.6
)
 
$
(259.3
)

The summarized financial position of the VodafoneZiggo JV is set forth below:
 
December 31,
 
2019
 
2018
 
in millions
 
 
 
 
Current assets
$
918.4

 
$
1,099.6

Long-term assets
21,508.1

 
22,155.7

Total assets
$
22,426.5

 
$
23,255.3

 
 
 
 
Current liabilities
$
2,726.4

 
$
2,812.3

Long-term liabilities
14,920.7

 
14,751.5

Owners’ equity
4,779.4

 
5,691.5

Total liabilities and owners’ equity
$
22,426.5


$
23,255.3

The following table sets forth the details of our share of results of affiliates, net:
 
Year ended December 31,
 
2019
 
2018
 
2017
 
in millions
VodafoneZiggo JV (a)
$
(185.9
)
 
$
11.4

 
$
(70.1
)
All3Media
(8.8
)
 
(19.2
)
 
(25.5
)
Formula E
1.7

 
(0.2
)
 
(1.5
)
Other
(5.5
)
 
(0.7
)
 
1.9

Total
$
(198.5
)
 
$
(8.7
)
 
$
(95.2
)
_______________

(a)
Amounts include the net effect of (i) 100% of the interest earned on the VodafoneZiggo JV Receivable and (ii) our 50% share of the remaining results of operations of the VodafoneZiggo JV.