Investments (Tables)

3 Months Ended

Mar. 31, 2017

Investments [Abstract]

Schedule of Investments by Accounting Method

The details of our investments are set forth below:

Accounting Method	March 31, 2017		December 31, 2016
	in millions
Equity (a):
VodafoneZiggo JV (b)	$	4,151.8	$	4,186.6
Other	133.8		142.7
Total — equity	4,285.6		4,329.3
Fair value:
ITV plc (ITV) — subject to re-use rights	1,094.1		1,015.4
Sumitomo Corporation (Sumitomo)	614.2		538.4
ITI Neovision S.A.	135.2		129.3
Lions Gate Entertainment Corp (Lionsgate)	127.4		128.6
Other	258.3		245.5
Total — fair value	2,229.2		2,057.2
Cost	99.1		97.2
Total	$	6,613.9	$	6,483.7

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(a) At March 31, 2017 and December 31, 2016, the aggregate carrying amounts of our equity method investments did not materially exceed our proportionate share of the respective investees’ net assets.

(b) Amounts include a related-party note receivable (the VodafoneZiggo JV Receivable) with a principal amount of $1,069.7 million and $1,054.7 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 requires €100.0 million ($107.0 million) of principal to be paid annually during the first three years of the agreement, with the remaining principal due on January 16, 2027. The accrued interest on the VodafoneZiggo JV Receivable will be payable in a manner mutually agreed upon by Liberty Global and the VodafoneZiggo JV. Interest accrued on the VodafoneZiggo JV Receivable during the first quarter of 2017 of $14.8 million was cash settled in March 2017.

Equity Method Investments

The summarized results of operations of the VodafoneZiggo JV for the three months ended March 31, 2017 are set forth below (in millions):

Revenue	$	1,083.8
Loss before income taxes	$	(43.6	)
Net loss	$	(30.6	)

The following table sets forth the details of our share of losses of affiliates, net:

	Three months ended March 31,
	2017		2016
	in millions
VodafoneZiggo JV (a)	$	1.3	$	—
Other	14.1		27.9
Total	$	15.4	$	27.9

_______________

(a)

Amount includes the net effect of (i) 100% of the interest income earned on the VodafoneZiggo JV Receivable, (ii) 100% of the share-based compensation expense associated with Liberty Global awards held by VodafoneZiggo JV employees who were formerly employees of Liberty Global, as these awards remain our responsibility, and (iii) our 50% share of the remaining results of operations of the VodafoneZiggo JV.