XML 37 R27.htm IDEA: XBRL DOCUMENT v3.22.1
Acquisitions and Dispositions (Tables)
3 Months Ended
Mar. 31, 2022
Acquisitions and Dispositions [Abstract]  
Classes of Assets and Liabilities Held for Sale At March 31, 2022, the held-for-sale assets and liabilities (which are included within other current assets and other accrued and current liabilities, respectively, on our condensed consolidated balance sheet) are as follows (in millions):
Current assets$205.7 
Current liabilities$129.4 
The carrying amounts of the major classes of assets and liabilities of UPC Poland as of March 31, 2022 and December 31, 2021 are summarized in the following table.
March 31, 2022December 31, 2021
in millions
Assets:
Current assets$22.2 $23.4 
Property and equipment, net409.6 406.8 
Goodwill445.7 464.7 
Other assets, net29.0 30.1 
Total assets$906.5 $925.0 
Liabilities:
Current portion of debt and finance lease obligations$0.8 $42.7 
Other accrued and current liabilities96.4 97.3 
Long-term debt and finance lease obligations4.6 5.0 
Other long-term liabilities54.9 56.3 
Total liabilities$156.7 $201.3 

The operating results of UPC Poland for the three months ended March 31, 2022 and 2021 are summarized in the following table. These amounts exclude intercompany revenue and expenses that are eliminated within our condensed consolidated statements of operations.
Three months ended
March 31,
20222021
in millions
Revenue$109.5 $115.4 
Operating income$45.0 $24.1 
Earnings before income taxes and noncontrolling interests$43.9 $22.9 
Income tax expense(9.3)(5.3)
Net earnings attributable to Liberty Global shareholders
$34.6 $17.6 
Equity Method Investments The preliminary amounts below are subject to adjustment based on the final assessment of the fair values of the identifiable assets and liabilities (in millions):
Current assets$4,186.7 
Property and equipment, net12,523.2 
Goodwill29,502.7 
Intangible assets subject to amortization, net13,274.6 
Other assets, net4,116.2 
Current portion of debt and finance lease obligations(4,352.5)
Other accrued and current liabilities(5,780.8)
Long-term debt and finance lease obligations(21,879.2)
Other long-term liabilities(2,170.9)
Total preliminary fair value of the net assets of the VMO2 JV
$29,420.0 
The following table sets forth the details of our share of results of affiliates, net:
 Three months ended
March 31,
 20222021
 in millions
VMO2 JV (a)
$187.1 $— 
VodafoneZiggo JV (b)
48.6 4.7 
Formula E
7.9 8.7 
All3Media
(4.7)(9.0)
Other, net(8.4)(2.7)
Total$230.5 $1.7 
_______________

(a)Represents (i) our 50% share of the results of operations of the VMO2 JV and (ii) 100% of the share-based compensation expense associated with Liberty Global awards held by VMO2 JV employees who were formerly employees of Liberty Global, as these awards remain our responsibility.

(b)Represents (i) our 50% share of the results of operations of the VodafoneZiggo JV and (ii) 100% of the interest income earned on the VodafoneZiggo JV Receivables.
The summarized results of operations of the VMO2 JV for the three months ended March 31, 2022 are set forth below (in millions):
Revenue$3,398.0 
Earnings before income taxes$378.6 
Net earnings$318.1 
The summarized results of operations of the VodafoneZiggo JV are set forth below:
Three months ended March 31,
20222021
in millions
Revenue$1,130.0 $1,217.0 
Earnings (loss) before income taxes$127.0 $(21.4)
Net earnings (loss)$72.3 $(16.1)