EX-99.1 7 exhibit991-tracker2016.htm EXHIBIT 99.1 Exhibit
Exhibit 99.1
ATTRIBUTED FINANCIAL INFORMATION
Unless otherwise defined herein, the capitalized terms used herein are defined in our consolidated financial statements, which are included in Part II of our 2016 Annual Report on Form 10-K (our 2016 Annual Report). The financial information presented herein should be read in conjunction with the financial information and related discussion and analysis included in our 2016 Annual Report. In the following text, the terms “we,” “our,” “our company” and “us” may refer, as the context requires, to Liberty Global or collectively to Liberty Global and its subsidiaries.
The following tables present our assets, liabilities, revenue, expenses and cash flows that are intended to track and reflect the separate economic performance of the businesses and assets attributed to (i) the Liberty Global Group and (ii) the LiLAC Group. For additional information regarding our tracking shares, see note 1 to our consolidated financial statements included in our 2016 Annual Report.
The attributed financial information presented herein has been prepared assuming this attribution had been completed as of January 1, 2014. However, this attribution of historical financial information does not necessarily represent the actual results and balances that would have occurred if such attribution had actually been in place during the periods presented.

F-1


LIBERTY GLOBAL PLC
ATTRIBUTED BALANCE SHEET INFORMATION
December 31, 2016
(unaudited)

 
 
Attributed to:
 
 
 
 
 
Liberty Global Group
 
LiLAC Group
 
Inter-group eliminations
 
Consolidated Liberty Global
 
in millions
ASSETS
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
Cash and cash equivalents
$
1,076.6

 
$
552.6

 
$

 
$
1,629.2

Receivable from the Dutch JV
2,346.6

 

 

 
2,346.6

Trade receivables, net
1,374.9

 
531.6

 

 
1,906.5

Derivative instruments
405.5

 
7.2

 

 
412.7

Prepaid expenses
122.8

 
86.6

 

 
209.4

Other current assets
237.6

 
335.7

 
(25.9
)
 
547.4

Total current assets
5,564.0

 
1,513.7

 
(25.9
)
 
7,051.8

Investments
6,388.7

 
95.0

 

 
6,483.7

Property and equipment, net
17,249.3

 
3,860.9

 

 
21,110.2

Goodwill
17,063.7

 
6,302.6

 

 
23,366.3

Intangible assets subject to amortization, net
2,423.2

 
1,234.5

 

 
3,657.7

Other assets, net (notes 2 and 4)
5,829.0

 
1,185.4

 

 
7,014.4

Total assets
$
54,517.9

 
$
14,192.1

 
$
(25.9
)
 
$
68,684.1



























F-2


LIBERTY GLOBAL PLC
ATTRIBUTED BALANCE SHEET INFORMATION — (Continued)
December 31, 2016
(unaudited)


 
Attributed to:
 
 
 
 
 
Liberty Global Group
 
LiLAC Group
 
Inter-group eliminations
 
Consolidated Liberty Global
 
in millions
LIABILITIES AND EQUITY
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
Accounts payable
$
954.5

 
$
219.4

 
$
(5.7
)
 
$
1,168.2

Deferred revenue and advance payments from subscribers and others
1,059.0

 
181.1

 

 
1,240.1

Current portion of debt and capital lease obligations
2,624.3

 
150.8

 

 
2,775.1

Accrued capital expenditures
677.8

 
87.6

 

 
765.4

Accrued interest
555.8

 
115.6

 

 
671.4

Accrued income taxes
431.8

 
26.1

 

 
457.9

Other accrued and current liabilities
2,094.1

 
570.8

 
(20.2
)
 
2,644.7

Total current liabilities
8,397.3

 
1,351.4

 
(25.9
)
 
9,722.8

Long-term debt and capital lease obligations (note 4)
34,886.5

 
5,897.1

 

 
40,783.6

Other long-term liabilities (note 2)
2,235.5

 
1,210.2

 

 
3,445.7

Total liabilities
45,519.3

 
8,458.7

 
(25.9
)
 
53,952.1

Equity attributable to Liberty Global shareholders
9,508.7

 
4,252.6

 

 
13,761.3

Noncontrolling interests
(510.1
)
 
1,480.8

 

 
970.7

Total equity
8,998.6

 
5,733.4

 

 
14,732.0

Total liabilities and equity
$
54,517.9

 
$
14,192.1

 
$
(25.9
)
 
$
68,684.1



F-3


LIBERTY GLOBAL PLC
ATTRIBUTED BALANCE SHEET INFORMATION
December 31, 2015
(unaudited)

 
 
Attributed to:
 
 
 
 
 
Liberty Global Group
 
LiLAC Group
 
Inter-group eliminations
 
Consolidated Liberty Global
 
in millions
ASSETS
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
Cash and cash equivalents
$
707.6

 
$
274.5

 
$

 
$
982.1

Trade receivables, net
1,376.2

 
91.5

 

 
1,467.7

Derivative instruments
405.9

 
16.0

 

 
421.9

Prepaid expenses
132.0

 
12.2

 

 
144.2

Other current assets
305.7

 
44.8

 
(9.0
)
 
341.5

Total current assets
2,927.4

 
439.0

 
(9.0
)
 
3,357.4

Investments
2,839.6

 

 

 
2,839.6

Property and equipment, net
20,840.5

 
843.5

 

 
21,684.0

Goodwill
26,244.8

 
775.6

 

 
27,020.4

Intangible assets subject to amortization, net
6,975.1

 
117.4

 

 
7,092.5

Other assets, net (notes 2 and 4)
4,504.1

 
1,062.6

 
(1.6
)
 
5,565.1

Total assets
$
64,331.5

 
$
3,238.1

 
$
(10.6
)
 
$
67,559.0





















F-4


LIBERTY GLOBAL PLC
ATTRIBUTED BALANCE SHEET INFORMATION — (Continued)
December 31, 2015
(unaudited)


 
Attributed to:
 
 
 
 
 
Liberty Global Group
 
LiLAC Group
 
Inter-group eliminations
 
Consolidated Liberty Global
 
in millions
LIABILITIES AND EQUITY
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
Accounts payable
$
995.9

 
$
54.2

 
$

 
$
1,050.1

Deferred revenue and advance payments from subscribers and others
1,347.7

 
45.8

 

 
1,393.5

Current portion of debt and capital lease obligations
2,537.1

 
0.8

 

 
2,537.9

Accrued capital expenditures
418.5

 
23.3

 

 
441.8

Accrued interest
776.5

 
56.3

 

 
832.8

Accrued income taxes
445.6

 
37.9

 

 
483.5

Other accrued and current liabilities
2,246.0

 
181.3

 
(9.0
)
 
2,418.3

Total current liabilities
8,767.3

 
399.6

 
(9.0
)
 
9,157.9

Long-term debt and capital lease obligations (note 4)
41,907.7

 
2,304.6

 
(1.1
)
 
44,211.2

Other long-term liabilities (note 2)
3,751.9

 
264.2

 
(0.5
)
 
4,015.6

Total liabilities
54,426.9

 
2,968.4

 
(10.6
)
 
57,384.7

Equity attributable to Liberty Global shareholders
10,446.0

 
206.4

 

 
10,652.4

Noncontrolling interests
(541.4
)
 
63.3

 

 
(478.1
)
Total equity
9,904.6

 
269.7

 

 
10,174.3

Total liabilities and equity
$
64,331.5

 
$
3,238.1

 
$
(10.6
)
 
$
67,559.0



F-5


LIBERTY GLOBAL PLC
ATTRIBUTED STATEMENT OF OPERATIONS AND COMPREHENSIVE EARNINGS (LOSS) INFORMATION
Year ended December 31, 2016
(unaudited)
 
Attributed to:
 
 
 
 
 
Liberty Global Group
 
LiLAC Group
 
Inter-group eliminations
 
Consolidated Liberty Global
 
in millions
 
 
 
 
 
 
 
 
Revenue
$
17,285.0

 
$
2,723.8

 
$

 
$
20,008.8

Operating costs and expenses (exclusive of depreciation and amortization, shown separately below) (note 3):
 
 
 
 
 
 
 
Programming and other direct costs of services
3,929.0

 
677.2

 

 
4,606.2

Other operating
2,446.1

 
438.7

 

 
2,884.8

SG&A
3,027.7

 
539.2

 

 
3,566.9

Inter-group fees and allocations
(8.5
)
 
8.5

 

 

Depreciation and amortization
5,213.8

 
587.3

 

 
5,801.1

Impairment, restructuring and other operating items, net
194.7

 
153.8

 

 
348.5

 
14,802.8

 
2,404.7

 

 
17,207.5

Operating income
2,482.2

 
319.1

 

 
2,801.3

Non-operating income (expense):
 
 
 
 
 
 
 
Interest expense (note 4)
(2,324.4
)
 
(314.4
)
 
0.4

 
(2,638.4
)
Realized and unrealized gains (losses) on derivative instruments, net
1,071.0

 
(225.9
)
 

 
845.1

Foreign currency transaction gains (losses), net
(400.1
)
 
110.1

 

 
(290.0
)
Realized and unrealized losses due to changes in fair values of certain investments and debt, net
(461.5
)
 

 

 
(461.5
)
Gains (losses) on debt modification and extinguishment, net
(238.1
)
 
0.9

 

 
(237.2
)
Gain on Dutch JV Transaction
520.8

 

 

 
520.8

Other income (expense), net (note 4)
(2.4
)
 
12.1

 
(0.4
)
 
9.3

 
(1,834.7
)
 
(417.2
)
 

 
(2,251.9
)
Earnings (loss) before income taxes
647.5

 
(98.1
)
 

 
549.4

Income tax benefit (expense) (note 2)
1,347.0

 
(129.1
)
 

 
1,217.9

Net earnings (loss)
1,994.5

 
(227.2
)
 

 
1,767.3

Net earnings attributable to noncontrolling interests
(33.7
)
 
(28.3
)
 

 
(62.0
)
Allocation of inter-group loss (note 4)
(19.7
)
 
19.7

 

 

Net earnings (loss) attributable to Liberty Global shareholders
$
1,941.1

 
$
(235.8
)
 
$

 
$
1,705.3

 
 
 
 
 
 
 
 
Net earnings (loss)
$
1,994.5

 
$
(227.2
)
 
$

 
$
1,767.3

Other comprehensive earnings (loss), net of taxes:
 
 
 
 
 
 
 
Foreign currency translation adjustments
(1,908.8
)
 
(58.1
)
 

 
(1,966.9
)
Reclassification adjustments included in net earnings (loss)
714.6

 
1.1

 

 
715.7

Pension-related adjustments and other
(6.0
)
 
(14.2
)
 

 
(20.2
)
Other comprehensive loss
(1,200.2
)
 
(71.2
)
 

 
(1,271.4
)
Comprehensive earnings (loss)
794.3

 
(298.4
)
 

 
495.9

Comprehensive earnings attributable to noncontrolling interests
(29.7
)
 
(29.2
)
 

 
(58.9
)
Allocation of inter-group loss (note 4)
(19.7
)
 
19.7

 

 

Comprehensive earnings (loss) attributable to Liberty Global shareholders
$
744.9

 
$
(307.9
)
 
$

 
$
437.0


F-6


LIBERTY GLOBAL PLC
ATTRIBUTED STATEMENT OF OPERATIONS AND COMPREHENSIVE EARNINGS (LOSS) INFORMATION
Year ended December 31, 2015
(unaudited)
 
Attributed to:
 
 
 
 
 
Liberty Global Group
 
LiLAC Group
 
Inter-group eliminations
 
Consolidated Liberty Global
 
in millions
 
 
 
 
 
 
 
 
Revenue
$
17,062.7

 
$
1,217.3

 
$

 
$
18,280.0

Operating costs and expenses (exclusive of depreciation and amortization, shown separately below) (note 3):
 
 
 
 
 
 
 
Programming and other direct costs of services
3,766.3

 
337.7

 

 
4,104.0

Other operating
2,470.7

 
184.5

 

 
2,655.2

SG&A
2,965.2

 
206.5

 

 
3,171.7

Inter-group fees and allocations
(4.3
)
 
4.3

 

 

Depreciation and amortization
5,609.4

 
216.4

 

 
5,825.8

Impairment, restructuring and other operating items, net
154.3

 
19.8

 

 
174.1

 
14,961.6

 
969.2

 

 
15,930.8

Operating income
2,101.1

 
248.1

 

 
2,349.2

Non-operating income (expense):
 
 
 
 
 
 
 
Interest expense (note 4)
(2,284.1
)
 
(157.9
)
 
0.6

 
(2,441.4
)
Realized and unrealized gains on derivative instruments, net
619.9

 
227.3

 

 
847.2

Foreign currency transaction losses, net
(925.8
)
 
(223.4
)
 

 
(1,149.2
)
Realized and unrealized gains due to changes in fair values of certain investments, net
124.5

 

 

 
124.5

Losses on debt modification and extinguishment, net
(388.0
)
 

 

 
(388.0
)
Other expense, net (note 4)
(24.5
)
 
(1.8
)
 
(0.6
)
 
(26.9
)
 
(2,878.0
)
 
(155.8
)
 

 
(3,033.8
)
Earnings (loss) before income taxes
(776.9
)
 
92.3

 

 
(684.6
)
Income tax expense (note 2)
(324.3
)
 
(40.6
)
 

 
(364.9
)
Net earnings (loss)
(1,101.2
)
 
51.7

 

 
(1,049.5
)
Net earnings attributable to noncontrolling interests
(95.2
)
 
(7.8
)
 

 
(103.0
)
Net earnings (loss) attributable to Liberty Global shareholders
$
(1,196.4
)
 
$
43.9

 
$

 
$
(1,152.5
)
 
 
 
 
 
 
 
 
Net earnings (loss)
$
(1,101.2
)
 
$
51.7

 
$

 
$
(1,049.5
)
Other comprehensive earnings (loss), net of taxes:
 
 
 
 
 
 
 
Foreign currency translation adjustments
(762.4
)
 
29.5

 

 
(732.9
)
Reclassification adjustments included in net earnings (loss)
1.5

 

 

 
1.5

Pension-related adjustments and other
(20.3
)
 
1.5

 

 
(18.8
)
Other comprehensive earnings (loss)
(781.2
)
 
31.0

 

 
(750.2
)
Comprehensive earnings (loss)
(1,882.4
)
 
82.7

 

 
(1,799.7
)
Comprehensive earnings attributable to noncontrolling interests
(95.7
)
 
(7.8
)
 

 
(103.5
)
Comprehensive earnings (loss) attributable to Liberty Global shareholders
$
(1,978.1
)
 
$
74.9

 
$

 
$
(1,903.2
)

F-7


LIBERTY GLOBAL PLC
ATTRIBUTED STATEMENT OF OPERATIONS AND COMPREHENSIVE EARNINGS (LOSS) INFORMATION
Year ended December 31, 2014
(unaudited)
 
Attributed to:
 
 
 
 
 
Liberty Global Group
 
LiLAC Group
 
Inter-group eliminations
 
Consolidated Liberty Global
 
in millions
 
 
 
 
 
 
 
 
Revenue
$
17,043.7

 
$
1,204.6

 
$

 
$
18,248.3

Operating costs and expenses (exclusive of depreciation and amortization, shown separately below) (note 3):
 
 
 
 
 
 
 
Programming and other direct costs of services
3,718.8

 
324.3

 

 
4,043.1

Other operating
2,584.7

 
191.1

 

 
2,775.8

SG&A
2,940.3

 
224.0

 

 
3,164.3

Depreciation and amortization
5,283.4

 
216.7

 

 
5,500.1

Impairment, restructuring and other operating items, net
516.7

 
20.1

 

 
536.8

 
15,043.9

 
976.2

 

 
16,020.1

Operating income
1,999.8

 
228.4

 

 
2,228.2

Non-operating income (expense):
 
 
 
 
 
 
 
Interest expense (note 4)
(2,405.1
)
 
(140.4
)
 
0.8

 
(2,544.7
)
Realized and unrealized gains on derivative instruments, net
45.1

 
43.7

 

 
88.8

Foreign currency transaction losses, net
(738.6
)
 
(97.9
)
 

 
(836.5
)
Realized and unrealized gains due to changes in fair values of certain investments, net
205.2

 

 

 
205.2

Losses on debt modification and extinguishment, net
(174.4
)
 
(11.8
)
 

 
(186.2
)
Other income (expense), net (note 4)
(12.0
)
 
2.1

 
(0.8
)
 
(10.7
)
 
(3,079.8
)
 
(204.3
)
 

 
(3,284.1
)
Earnings (loss) from continuing operations before income taxes
(1,080.0
)
 
24.1

 

 
(1,055.9
)
Income tax benefit (expense) (note 2)
89.4

 
(14.4
)
 

 
75.0

Earnings (loss) from continuing operations
(990.6
)
 
9.7

 

 
(980.9
)
Discontinued operation:
 
 
 
 
 
 
 
Earnings from discontinued operation, net of taxes
0.8

 

 

 
0.8

Gain on disposal of discontinued operation, net of taxes
332.7

 

 

 
332.7

 
333.5






333.5

Net earnings (loss)
(657.1
)
 
9.7

 

 
(647.4
)
Net loss (earnings) attributable to noncontrolling interests
(49.9
)
 
2.3

 

 
(47.6
)
Net earnings (loss) attributable to Liberty Global shareholders
$
(707.0
)
 
$
12.0

 
$

 
$
(695.0
)
 
 
 
 
 
 
 
 
Net earnings (loss)
$
(657.1
)
 
$
9.7

 
$

 
$
(647.4
)
Other comprehensive earnings (loss), net of taxes:
 
 
 
 
 
 
 
Foreign currency translation adjustments
(869.9
)
 
(66.0
)
 

 
(935.9
)
Reclassification adjustments included in net earnings (loss)
124.4

 

 

 
124.4

Pension-related adjustments and other
(71.2
)
 

 

 
(71.2
)
Other comprehensive loss
(816.7
)
 
(66.0
)
 

 
(882.7
)
Comprehensive loss
(1,473.8
)
 
(56.3
)
 

 
(1,530.1
)
Comprehensive loss (earnings) attributable to noncontrolling interests
(49.4
)
 
2.3

 

 
(47.1
)
Comprehensive loss attributable to Liberty Global shareholders
$
(1,523.2
)
 
$
(54.0
)
 
$

 
$
(1,577.2
)

F-8


LIBERTY GLOBAL PLC
ATTRIBUTED STATEMENT OF CASH FLOWS INFORMATION
Year ended December 31, 2016
(unaudited)
 
Attributed to:
 
 
 
 
 
Liberty Global Group
 
LiLAC Group
 
Inter-group eliminations
 
Consolidated Liberty Global
 
in millions
Cash flows from operating activities:
 
 
 
 
 
 
 
Net earnings (loss)
$
1,994.5

 
$
(227.2
)
 
$

 
$
1,767.3

Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
 
 
 
 
 
 
 
Share-based compensation expense
281.5

 
15.4

 

 
296.9

Inter-group fees and allocations
(8.5
)
 
8.5

 

 

Depreciation and amortization
5,213.8

 
587.3

 

 
5,801.1

Impairment, restructuring and other operating items, net
194.7

 
153.8

 

 
348.5

Amortization of deferred financing costs and non-cash interest
76.2

 
(8.3
)
 

 
67.9

Realized and unrealized losses (gains) on derivative instruments, net
(1,071.0
)
 
225.9

 

 
(845.1
)
Foreign currency transaction losses (gains), net
400.1

 
(110.1
)
 

 
290.0

Realized and unrealized losses due to changes in fair values of certain investments and debt, including impact of dividends
477.0

 

 

 
477.0

Losses (gains) on debt modification and extinguishment, net
238.1

 
(0.9
)
 

 
237.2

Gain on Dutch JV Transaction
(520.8
)
 

 

 
(520.8
)
Deferred income tax benefit
(1,465.0
)
 
(55.0
)
 

 
(1,520.0
)
Excess tax benefits from share-based compensation
(4.4
)
 

 

 
(4.4
)
Changes in operating assets and liabilities, net of the effects of acquisitions and dispositions:
 
 
 
 
 
 
 
Receivables and other operating assets
530.7

 
(83.7
)
 
10.9

 
457.9

Payables and accruals
(869.6
)
 
(37.5
)
 
(10.9
)
 
(918.0
)
Net cash provided by operating activities
5,467.3

 
468.2

 

 
5,935.5

 
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
 
Capital expenditures
(2,153.9
)
 
(490.4
)
 

 
(2,644.3
)
Cash received (paid) in connection with acquisitions, net
(1,401.5
)
 
17.0

 

 
(1,384.5
)
Sale of investments
147.3

 

 

 
147.3

Investments in and loans to affiliates and others
(140.2
)
 
(0.7
)
 

 
(140.9
)
Inter-group receipts, net
2.1

 
0.3

 
(2.4
)
 

Other investing activities, net
71.0

 
32.7

 
1.0

 
104.7

Net cash used by investing activities
$
(3,475.2
)
 
$
(441.1
)
 
$
(1.4
)
 
$
(3,917.7
)

F-9


LIBERTY GLOBAL PLC
ATTRIBUTED STATEMENT OF CASH FLOWS INFORMATION — (Continued)
Year ended December 31, 2016
(unaudited)
 
Attributed to:
 
 
 
 
 
Liberty Global Group
 
LiLAC Group
 
Inter-group eliminations
 
Consolidated Liberty Global
 
in millions
Cash flows from financing activities:
 
 
 
 
 
 
 
Borrowings of debt
$
12,160.2

 
$
1,520.6

 
$

 
$
13,680.8

Repayments and repurchases of debt and capital lease obligations
(11,387.9
)
 
(1,156.5
)
 

 
(12,544.4
)
Repurchase of Liberty Global ordinary shares
(1,948.3
)
 
(20.0
)
 

 
(1,968.3
)
Payment of financing costs and debt premiums
(222.4
)
 
(31.5
)
 

 
(253.9
)
Net cash paid related to derivative instruments
(251.5
)
 

 

 
(251.5
)
Change in cash collateral
117.6

 
(11.3
)
 

 
106.3

Distributions by subsidiaries to noncontrolling interest owners
(13.2
)
 
(61.9
)
 

 
(75.1
)
Inter-group payments, net
(0.3
)
 
(2.1
)
 
2.4

 

Other financing activities, net
(88.6
)
 
10.0

 
(1.0
)
 
(79.6
)
Net cash provided (used) by financing activities
(1,634.4
)
 
247.3

 
1.4

 
(1,385.7
)
 
 
 
 
 
 
 
 
Effect of exchange rate changes on cash
11.3

 
3.7

 

 
15.0

 
 
 
 
 
 
 
 
Net increase in cash and cash equivalents
369.0

 
278.1

 

 
647.1

Cash and cash equivalents:
 
 
 
 
 
 
 
Beginning of year
707.6

 
274.5

 

 
982.1

End of year
$
1,076.6

 
$
552.6

 
$

 
$
1,629.2

 
 
 
 
 
 
 
 
Cash paid for interest
$
2,303.4

 
$
304.6

 
$

 
$
2,608.0

Net cash paid for taxes
$
309.7

 
$
131.0

 
$

 
$
440.7



F-10


LIBERTY GLOBAL PLC
ATTRIBUTED STATEMENT OF CASH FLOWS INFORMATION
Year ended December 31, 2015
(unaudited)
 
Attributed to:
 
 
 
 
 
Liberty Global Group
 
LiLAC Group
 
Inter-group eliminations
 
Consolidated Liberty Global
 
in millions
Cash flows from operating activities:
 
 
 
 
 
 
 
Net earnings (loss)
$
(1,101.2
)
 
$
51.7

 
$

 
$
(1,049.5
)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
 
 
 
 
 
 
 
Share-based compensation expense
315.8

 
2.4

 

 
318.2

Inter-group fees and allocations
(4.3
)
 
4.3

 

 

Depreciation and amortization
5,609.4

 
216.4

 

 
5,825.8

Impairment, restructuring and other operating items, net
154.3

 
19.8

 

 
174.1

Amortization of deferred financing costs and non-cash interest
76.5

 
4.3

 

 
80.8

Realized and unrealized gains on derivative instruments, net
(619.9
)
 
(227.3
)
 

 
(847.2
)
Foreign currency transaction losses, net
925.8

 
223.4

 

 
1,149.2

Realized and unrealized gains due to changes in fair values of certain investments, including impact of dividends
(121.4
)
 

 

 
(121.4
)
Losses on debt modification and extinguishment, net
388.0

 

 

 
388.0

Deferred income tax benefit
(31.5
)
 
(18.6
)
 

 
(50.1
)
Excess tax benefits from share-based compensation
(23.0
)
 
(3.7
)
 

 
(26.7
)
Changes in operating assets and liabilities, net of the effects of acquisitions and dispositions:
 
 
 
 
 
 
 
Receivables and other operating assets
532.7

 
46.6

 
(12.8
)
 
566.5

Payables and accruals
(701.9
)
 
(12.8
)
 
12.8

 
(701.9
)
Net cash provided by operating activities
5,399.3

 
306.5

 

 
5,705.8

 
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
 
Capital expenditures
(2,272.3
)
 
(227.2
)
 

 
(2,499.5
)
Cash paid in connection with acquisitions, net of cash acquired
(113.3
)
 
(272.5
)
 

 
(385.8
)
Investments in and loans to affiliates and others
(998.6
)
 
(1.0
)
 

 
(999.6
)
Inter-group receipts (payments), net
(98.8
)
 
8.6

 
90.2

 

Other investing activities, net
54.0

 
1.5

 

 
55.5

Net cash used by investing activities
$
(3,429.0
)
 
$
(490.6
)
 
$
90.2

 
$
(3,829.4
)

F-11


LIBERTY GLOBAL PLC
ATTRIBUTED STATEMENT OF CASH FLOWS INFORMATION — (Continued)
Year ended December 31, 2015
(unaudited)
 
Attributed to:
 
 
 
 
 
Liberty Global Group
 
LiLAC Group
 
Inter-group eliminations
 
Consolidated Liberty Global
 
in millions
Cash flows from financing activities:
 
 
 
 
 
 
 
Borrowings of debt
$
14,969.3

 
$
261.1

 
$

 
$
15,230.4

Repayments and repurchases of debt and capital lease obligations
(13,880.6
)
 
(0.8
)
 

 
(13,881.4
)
Repurchase of Liberty Global ordinary shares
(2,320.5
)
 

 

 
(2,320.5
)
Payment of financing costs and debt premiums
(418.1
)
 
(5.2
)
 

 
(423.3
)
Net cash paid related to derivative instruments
(301.2
)
 

 

 
(301.2
)
Change in cash collateral
(56.1
)
 

 

 
(56.1
)
Purchase of additional shares of subsidiaries
(142.4
)
 

 

 
(142.4
)
Distributions by subsidiaries to noncontrolling interest owners
(11.3
)
 

 

 
(11.3
)
Inter-group receipts (payments), net
(8.5
)
 
98.7

 
(90.2
)
 

Other financing activities, net
(141.9
)
 
9.9

 

 
(132.0
)
Net cash provided (used) by financing activities
(2,311.3
)
 
363.7

 
(90.2
)
 
(2,037.8
)
 
 
 
 
 
 
 
 
Effect of exchange rate changes on cash
(2.8
)
 
(12.2
)
 

 
(15.0
)
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
(343.8
)
 
167.4

 

 
(176.4
)
Cash and cash equivalents:

 
 
 
 
 
 
Beginning of year
1,051.4

 
107.1

 

 
1,158.5

End of year
$
707.6

 
$
274.5

 
$

 
$
982.1

 
 
 
 
 
 
 
 
Cash paid for interest
$
2,024.0

 
$
146.4

 
$

 
$
2,170.4

Net cash paid for taxes
$
213.8

 
$
22.5

 
$

 
$
236.3



F-12


LIBERTY GLOBAL PLC
ATTRIBUTED STATEMENT OF CASH FLOWS INFORMATION
Year ended December 31, 2014
(unaudited)
 
Attributed to:
 
 
 
 
 
Liberty Global Group
 
LiLAC Group
 
Inter-group eliminations
 
Consolidated Liberty Global
 
in millions
Cash flows from operating activities:
 
 
 
 
 
 
 
Net earnings (loss)
$
(657.1
)
 
$
9.7

 
$

 
$
(647.4
)
Earnings from discontinued operation
(333.5
)
 

 

 
(333.5
)
Earnings (loss) from continuing operations
(990.6
)
 
9.7

 

 
(980.9
)
Adjustments to reconcile earnings (loss) from continuing operations to net cash provided by operating activities:
 
 
 
 
 
 
 
Share-based compensation expense
245.6

 
11.6

 

 
257.2

Depreciation and amortization
5,283.4

 
216.7

 

 
5,500.1

Impairment, restructuring and other operating items, net
516.7

 
20.1

 

 
536.8

Amortization of deferred financing costs and non-cash interest
80.9

 
3.4

 

 
84.3

Realized and unrealized gains on derivative instruments, net
(45.1
)
 
(43.7
)
 

 
(88.8
)
Foreign currency transaction losses, net
738.6

 
97.9

 

 
836.5

Realized and unrealized gains due to changes in fair values of certain investments, including impact of dividends
(203.7
)
 

 

 
(203.7
)
Losses on debt modification and extinguishment, net
174.4

 
11.8

 

 
186.2

Deferred income tax expense (benefit)
(378.8
)
 
28.2

 

 
(350.6
)
Excess tax benefits from share-based compensation
(6.9
)
 
(0.1
)
 

 
(7.0
)
Changes in operating assets and liabilities, net of the effects of acquisitions and dispositions:
 
 
 
 
 
 
 
Receivables and other operating assets
907.9

 
(45.2
)
 
(2.2
)
 
860.5

Payables and accruals
(998.6
)
 
(21.4
)
 
2.2

 
(1,017.8
)
Net cash used by operating activities of discontinued operation
(9.6
)
 

 

 
(9.6
)
Net cash provided by operating activities
5,314.2

 
289.0

 

 
5,603.2

 
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 


Capital expenditures
(2,461.3
)
 
(223.1
)
 

 
(2,684.4
)
Cash paid in connection with acquisitions, net of cash acquired
(73.3
)
 

 

 
(73.3
)
Investments in and loans to affiliates and others
(1,015.6
)
 
(1.0
)
 

 
(1,016.6
)
Proceeds received upon disposition of discontinued operation, net of disposal costs
988.5

 

 

 
988.5

Inter-group receipts, net
441.8

 

 
(441.8
)
 

Other investing activities, net
(14.8
)
 
(8.1
)
 
9.1

 
(13.8
)
Net cash used by investing activities of discontinued operation, including deconsolidated cash
(3.8
)
 

 

 
(3.8
)
Net cash used by investing activities
$
(2,138.5
)
 
$
(232.2
)
 
$
(432.7
)
 
$
(2,803.4
)





F-13


LIBERTY GLOBAL PLC
ATTRIBUTED STATEMENT OF CASH FLOWS INFORMATION — (Continued)
Year ended December 31, 2014
(unaudited)
 
Attributed to:
 
 
 
 
 
Liberty Global Group
 
LiLAC Group
 
Inter-group eliminations
 
Consolidated Liberty Global
 
in millions
Cash flows from financing activities:
 
 
 
 
 
 
 
Borrowings of debt
$
9,527.4

 
$
45.0

 
$

 
$
9,572.4

Repayments and repurchases of debt and capital lease obligations
(11,190.5
)
 
(125.6
)
 

 
(11,316.1
)
Repurchase of Liberty Global ordinary shares
(1,584.9
)
 

 

 
(1,584.9
)
Payment of financing costs and debt premiums
(336.1
)
 
(43.7
)
 

 
(379.8
)
Net cash paid related to derivative instruments
(183.6
)
 
(37.4
)
 

 
(221.0
)
Change in cash collateral
(63.1
)
 
4.4

 

 
(58.7
)
Purchase of additional shares of subsidiaries
(260.7
)
 

 

 
(260.7
)
Distributions by subsidiaries to noncontrolling interest owners
(12.1
)
 

 

 
(12.1
)
Inter-group receipts (payments), net
(472.1
)
 
39.4

 
432.7

 

Other financing activities, net
0.9

 
(0.1
)
 

 
0.8

Net cash used by financing activities of discontinued operation
(1.2
)
 

 

 
(1.2
)
Net cash used by financing activities
(4,576.0
)
 
(118.0
)
 
432.7

 
(4,261.3
)
 
 
 
 
 
 
 
 
Effect of exchange rate changes on cash
(75.2
)
 
(6.7
)
 

 
(81.9
)
Net decrease in cash and cash equivalents:
 
 
 
 
 
 
 
Continuing operations
(1,460.9
)
 
(67.9
)
 

 
(1,528.8
)
Discontinued operation
(14.6
)
 

 

 
(14.6
)
Net decrease in cash and cash equivalents
(1,475.5
)
 
(67.9
)
 

 
(1,543.4
)
Cash and cash equivalents:
 
 
 
 
 
 
 
Beginning of year
2,526.9

 
175.0

 

 
2,701.9

End of year
$
1,051.4

 
$
107.1

 
$

 
$
1,158.5

 
 
 
 
 
 
 
 
Cash paid for interest – continuing operations
$
2,289.8

 
$
90.1

 
$
(3.2
)
 
$
2,376.7

Net cash paid for taxes:
 
 
 
 
 
 
 
Continuing operations
$
59.9

 
$
37.4

 
$

 
$
97.3

Discontinued operation
2.2

 

 

 
2.2

Total
$
62.1

 
$
37.4

 
$

 
$
99.5


F-14

LIBERTY GLOBAL PLC
Notes to Attributed Financial Information
December 31, 2016, 2015 and 2014
(unaudited)



(1)
Attributed Financial Information
The terms “LiLAC Group” and “Liberty Global Group” do not represent separate legal entities, rather they represent those businesses, assets and liabilities that have been attributed to each group. The LiLAC Group comprises our businesses, assets and liabilities in Latin America and the Caribbean and has attributed to it (i) LGE Coral and its subsidiaries, which include CWC, (ii) VTR Finance and its subsidiaries, which include VTR, (iii) Lila Chile Holding, which is the parent entity of VTR Finance, (iv) LiLAC Communications and its subsidiaries, which include Liberty Puerto Rico and (v) prior to July 1, 2015, the LiLAC Corporate Costs. Effective July 1, 2015, LiLAC Corporate Costs were transferred to LiLAC Communications. The Liberty Global Group comprises our businesses, assets and liabilities not attributed to the LiLAC Group, including Virgin Media, Ziggo Group Holding (through December 31, 2016), Unitymedia, Telenet, UPC Holding, our corporate entities (excluding LiLAC Communications) and certain other less significant entities. Accordingly, the accompanying attributed financial information for the Liberty Global Group and the LiLAC Group includes the assets, liabilities, revenue, expenses and cash flows of the respective entities within each group. Any business that we may acquire in the future that we do not attribute to the LiLAC Group will be attributed to the Liberty Global Group.
Our board of directors is vested with discretion to reattribute businesses, assets and liabilities that are attributed to either the Liberty Global Group or the LiLAC Group to the other group, without the approval of any of our shareholders, and may use the liquidity of one group to fund the liquidity and capital resource requirements of the other group. Accordingly, shareholders may have difficulty evaluating the future prospects and liquidity and capital resources of each group.
(2)
Income Taxes
We generally have accounted for income taxes for the Liberty Global Group and the LiLAC Group in the accompanying attributed financial information on a separate return basis, as adjusted to reflect the consolidated view of the tax asset, liability, benefit or expense (tax attribute) of each group. Accordingly, except as otherwise noted below, any tax attribute associated with an entity attributed to the Liberty Global Group has been allocated to the Liberty Global Group and any tax attribute associated with an entity attributed to the LiLAC Group has been allocated to the LiLAC Group.
Liberty Global owns consolidated interests in a number of entities that are included in combined or consolidated tax returns, including tax returns in the Netherlands (the Dutch Fiscal Unity), the U.K. (the U.K. Tax Group) and the U.S. (the U.S. Tax Group). Different members of the Liberty Global Group file combined tax returns for the Dutch Fiscal Unity and U.K. tax returns, where sharing of certain tax attributes is permitted, and consolidated tax returns for the U.S. Tax Group. Certain entities included in the Dutch Fiscal Unity, the U.K. Tax Group and the U.S. Tax Group are attributed to the LiLAC Group. As a result, we record inter-group tax allocations to recognize changes in the tax attributes of certain members of the LiLAC Group that are included in the Dutch Fiscal Unity, the U.K. Tax Group or the U.S. Tax Group. Prior to July 1, 2015, the inter-group tax allocations reflected in the attributed financial information were not cash settled and were not the subject of tax sharing agreements. Accordingly, inter-group tax allocations prior to July 1, 2015 are reflected in the attributed financial information as adjustments of equity. Following the adoption of the tax sharing policy described below, certain inter-group tax allocations are expected to be cash settled.
Effective July 1, 2015 (the date we distributed the LiLAC Shares), the allocation of tax attributes between the Liberty Global Group and the LiLAC Group is based on a tax sharing policy. This tax sharing policy, which may be changed in future periods at the discretion of the board of directors of Liberty Global, generally results in the allocation of Liberty Global’s tax attributes to the Liberty Global Group and the LiLAC Group based on the tax attributes of the legal entities attributed to each of the groups. Nevertheless, to the extent that Liberty Global management concludes the actions or results of one group give rise to changes in the tax attributes of the other group, the change in those tax attributes are generally allocated to the group whose actions or results gave rise to such changes. Similarly, in cases where legal entities in one group join in a common tax filing with members of the other group, changes in the tax attributes of the group that includes the filing entity that are the result of the actions or financial results of one or more members of the other group are allocated to the group that does not include the filing entity. In addition, the allocation of any taxes and losses resulting from the ultimate tax treatment of Liberty Global tax attributes related to the distribution of the LiLAC Shares are allocated in proportion to each group’s respective number of “liquidation units.” Pursuant to the terms of our articles of association, the liquidation units for each Liberty Global Share and each LiLAC Share are 1 and 0.94893, respectively. For periods beginning on and after July 1, 2015, we will record non-interest bearing inter-group payables and receivables in connection with the allocation of tax attributes to the extent that tax assets are utilized or taxable income is included in the return for the applicable tax year. These inter-group payables and receivables are expected to be cash settled annually within 90 days following the filing of the relevant tax return.

F-15

LIBERTY GLOBAL PLC
Notes to Attributed Financial Information — (Continued)
December 31, 2016, 2015 and 2014
(unaudited)


Liberty Global Group
Income tax benefit (expense) consists of:
 
Liberty Global Group
 
Current
 
Deferred
 
Total
 
in millions
Year ended December 31, 2016:
 
 
 
 
 
The Netherlands
$
(0.3
)
 
$
1,259.6

 
$
1,259.3

U.S. (a) (b)
146.8

 
90.2

 
237.0

Belgium
(105.0
)
 
57.0

 
(48.0
)
Switzerland
(48.4
)
 
5.3

 
(43.1
)
Germany
(77.9
)
 
41.0

 
(36.9
)
U.K.
(12.3
)
 
1.2

 
(11.1
)
Other
(20.9
)
 
10.7

 
(10.2
)
Total
$
(118.0
)
 
$
1,465.0

 
$
1,347.0

 
 
 
 
 
 
Year ended December 31, 2015:
 
 
 
 
 
U.K.
$
(0.9
)
 
$
(209.0
)
 
$
(209.9
)
The Netherlands
2.5

 
159.0

 
161.5

Belgium
(125.4
)
 
11.1

 
(114.3
)
Switzerland
(63.2
)
 
(14.7
)
 
(77.9
)
Germany
(66.7
)
 
24.3

 
(42.4
)
U.S. (a) (b)
(79.4
)
 
54.1

 
(25.3
)
Other
(22.7
)
 
6.7

 
(16.0
)
Total
$
(355.8
)
 
$
31.5

 
$
(324.3
)