Defined Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2013

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 at December 31, 2013 (in millions):

Projected benefit obligation at beginning of period	$	384.6
Acquisition (a)	687.1
Service cost	25.8
Interest cost	26.8
Actuarial gain	(4.8		)
Participants’ contributions	11.8
Benefits paid	(28.1		)
Effect of changes in exchange rates	59.8
Projected benefit obligation at end of period	$	1,163.0
Accumulated benefit obligation at end of period	$	1,144.7
Fair value of plan assets at beginning of period	$	310.9
Acquisition (a)	626.0
Actual earningsof plan assets	37.0
Group contributions	44.6
Participants’ contributions	11.8
Benefits paid	(27.6		)
Effect of changes in exchange rates	54.3
Fair value of plan assets at end of period	$	1,057.0
Net liability (b)	$	106.0

_______________ 

(a) Amounts relate 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 sheet.

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:

	Before-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 actuarialgain	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

Schedule of weighted average assumptions used in determining benefit obligations

The weighted average assumptions used in determining benefit obligations at December 31, 2013 are as follows:

Expected rate of salary increase	3.1	%
Discount rate	3.8	%
Return on plan assets	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 statement of operations during 2013 are as follows (in millions):

Service cost	$	25.8
Interest cost	26.8
Expected return on plan assets	(30.0		)
Other	(1.1		)
Net periodic pension cost	$	21.5

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, 2013	$	—
Acquisition (a)	147.3
Actual return on plan assets:
Gains relating to assets still held at year-end	1.0
Purchases of investments	0.9
Foreign currency translation adjustments and other, net	12.0
Balance at December 31, 2013	$	161.2

_______________ 

(a) Amount relates to the Virgin Media Acquisition.

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 weighted average asset allocation established for the funded plans at December 31, 2013 is as follows:

Equity securities	32.6	%
Debt securities	26.1	%
Insurance contracts	14.5	%
Hedge funds	12.6	%
Guarantee investment contracts	7.9	%
Real estate	3.5	%
Other	2.8	%
Total	100.0	%

The asset allocation by asset category and by fair value hierarchy level (as further described in note 7) of our plan assets is as follows:

	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

_______________ 

(a) Relates to the purchase of an insurance contract by a trustee of one of our defined benefit plans. The insurance contract will pay an income stream to the plan which is expected to match all future cash outflows in respect of 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 expected benefits to be paid during the next ten years with respect to our defined benefit pension plans

Our subsidiaries’ contributions to their respective defined benefit plans in 2014 are currently expected to aggregate $58.6 million.

As of December 31, 2013, 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):

2014	$	45.7
2015	$	45.2
2016	$	45.1
2017	$	49.7
2018	$	50.6
2019 through 2023	$	284.6