Investments

The details of our investments are set forth below:



Accounting Method	June 30, 2014		December 31, 2013
	in millions
Fair value:
Ziggo (a):
Not subject to re-use rights (38.7 million and 34.1 million shares, respectively)	$	1,791.2	$	1,560.1
Subject to re-use rights (18.3 million and 22.9 million shares, respectively)	844.1		1,049.4
Total — Ziggo	2,635.3		2,609.5
Sumitomo (b)	616.6		572.9
Other (c)	321.4		299.4
Total — fair value	3,573.3		3,481.8
Equity	19.3		8.9
Cost	0.5		0.5
Total	$	3,593.1	$	3,491.2

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(a)

At June 30, 2014, we owned 57,000,738 shares of Ziggo. Our Ziggo shares represented 28.5% of the outstanding shares of Ziggo at June 30, 2014. At June 30, 2014, 19,965,600 of the Ziggo shares that we owned were (i) subject to a share collar (the Ziggo Collar) and (ii) pledged as collateral under a secured borrowing arrangement (the Ziggo Collar Loan) and are held in a custody account. Under the terms of the Ziggo Collar, the counterparty has the right to re-use most of the Ziggo shares held in the custody account (up to an estimated 18.3 million shares at June 30, 2014), but we have the right to recall the shares that are re-used by the counterparty subject to certain costs. In addition, the counterparty retains dividends on the Ziggo shares that the counterparty would need to borrow from the custody account to hedge its exposure under the Ziggo Collar (an estimated 14.3 million shares at June 30, 2014). The decline in the number of shares subject to re-use rights is primarily attributable to a partial settlement in January 2014 of the Ziggo Collar and Ziggo Collar Loan.


(b)	At June 30, 2014, we owned 45,652,043 shares of Sumitomo Corporation (Sumitomo) common stock. Our Sumitomo shares represented less than 5% of Sumitomo’s outstanding common stock at June 30, 2014. These shares secure a loan (the Sumitomo Collar Loan) to Liberty Programming Japan LLC, our wholly-owned subsidiary.


(c)	Includes various fair value investments, the most significant of which is our 17.0% interest in ITI Neovision S.A. (formerly Canal+ Cyfrowy S.A.), a privately-held direct-to-home (DTH) operator in Poland.

Subsequent Event

For information concerning an investment we completed subsequent to June 30, 2014, see note 16.