Acquisitions and Dispositions (Tables)

9 Months Ended

Sep. 30, 2018

Acquisitions and Dispositions [Abstract]

Schedule of summarized financial position and operating results, disposal group and discontinued operations

The carrying amounts of the major classes of assets and liabilities of the Vodafone Disposal Group as of September 30, 2018 are summarized below (in millions). These amounts exclude intercompany assets and liabilities that are eliminated within our condensed consolidated balance sheet.

Assets:
Current assets other than cash	$	393.9
Property and equipment, net	5,439.6
Goodwill	4,039.7
Other assets, net	460.9
Total assets	$	10,334.1
Liabilities:
Current portion of debt and capital lease obligations	$	715.8
Other accrued and current liabilities	1,091.6
Long-term debt and capital lease obligations	9,117.2
Other long-term liabilities	984.4
Total liabilities	$	11,909.0

The carrying amounts of the major classes of assets and liabilities of UPC Austria and the Vodafone Disposal Group as of December 31, 2017 are summarized below.These amounts exclude intercompany assets and liabilities that are eliminated within our condensed consolidated balance sheet.

	UPC Austria		Vodafone Disposal Group		Total
	in millions
Assets:
Current assets other than cash	$	29.2	$	238.9	$	268.1
Property and equipment, net	451.9		5,290.1		5,742.0
Goodwill	732.2		4,181.0		4,913.2
Other assets, net	3.2		482.7		485.9
Total assets	$	1,216.5	$	10,192.7	$	11,409.2
Liabilities:
Current portion of debt and capital lease obligations	$	0.8	$	486.9	$	487.7
Other accrued and current liabilities	77.7		1,022.3		1,100.0
Long-term debt and capital lease obligations	1.5		9,026.1		9,027.6
Other long-term liabilities	76.3		863.7		940.0
Total liabilities	$	156.3	$	11,399.0	$	11,555.3

The operating results of UPC Austria, the Vodafone Disposal Group and the LiLAC Group for the periods indicated are summarized in the following tables. These amounts exclude intercompany revenue and expenses that are eliminated within our condensed consolidated statement of operations.

	UPC Austria (a)			Vodafone Disposal Group			Total
	in millions
Three months ended September 30, 2018
Revenue	$	35.7		$	872.4		$	908.1
Operating income	$	16.1		$	532.3		$	548.4
Earnings before income taxes and noncontrolling interests	$	16.0		$	427.5		$	443.5
Income tax expense	(4.1		)	(114.9		)	(119.0		)
Net earnings	11.9			312.6			324.5
Net earnings attributable to noncontrolling interests	(0.6		)	—			(0.6		)
Net earnings attributable to Liberty Global shareholders	$	11.3		$	312.6		$	323.9

_______________

(a) Includes the operating results of UPC Austria from July 1, 2018 through July 31, 2018, the date UPC Austria was sold.

	UPC Austria (a)			Vodafone Disposal Group			Total
	in millions
Nine months ended September 30, 2018
Revenue	$	252.4		$	2,717.6		$	2,970.0
Operating income	$	139.0		$	1,263.8		$	1,402.8
Earnings before income taxes and noncontrolling interests	$	138.7		$	919.0		$	1,057.7
Income tax expense	(23.3		)	(241.7		)	(265.0		)
Net earnings	115.4			677.3			792.7
Net earnings attributable to noncontrolling interests	(4.2		)	—			(4.2		)
Net earnings attributable to Liberty Global shareholders	$	111.2		$	677.3		$	788.5

_______________

(a) Includes the operating results of UPC Austria from January 1, 2018 through July 31, 2018, the date UPC Austria was sold.

	UPC Austria			Vodafone Disposal Group			LiLAC Group			Total
	in millions
Three months ended September 30, 2017
Revenue	$	102.9		$	846.7		$	906.9		$	1,856.5
Operating income (loss)	$	39.6		$	272.1		$	(205.7	)	$	106.0
Earnings (loss) before income taxes and noncontrolling interests	$	39.6		$	110.9		$	(361.5	)	$	(211.0	)
Income tax benefit (expense)	(3.1		)	(20.9		)	17.9			(6.1		)
Net earnings (loss)	36.5			90.0			(343.6		)	(217.1		)
Net loss (earnings) attributable to noncontrolling interests	(1.8		)	—			12.4			10.6
Net earnings (loss) attributable to Liberty Global shareholders	$	34.7		$	90.0		$	(331.2	)	$	(206.5	)

	UPC Austria			Vodafone Disposal Group			LiLAC Group			Total
	in millions
Nine months ended September 30, 2017
Revenue	$	291.0		$	2,396.6		$	2,738.7		$	5,426.3
Operating income	$	109.7		$	682.1		$	84.5		$	876.3
Earnings (loss) before income taxes and noncontrolling interests	$	109.7		$	332.0		$	(319.4	)	$	122.3
Income tax expense	(8.9		)	(66.0		)	(57.3		)	(132.2		)
Net earnings (loss)	100.8			266.0			(376.7		)	(9.9		)
Net earnings attributable to noncontrolling interests	(5.0		)	—			(19.5		)	(24.5		)
Net earnings (loss) attributable to Liberty Global shareholders	$	95.8		$	266.0		$	(396.2	)	$	(34.4	)

Our basic and diluted earnings from discontinued operations attributable to Liberty Global shareholders per Liberty Global Share for the three and nine months ended September 30, 2018 and 2017 is presented below. These amounts relate to the operations of UPC Austria and the Vodafone Disposal Group.

	Three months ended				Nine months ended
	September 30,				September 30,
	2018		2017		2018		2017
Basic and diluted earnings from discontinued operations attributable to Liberty Global shareholders per Liberty Global Share	$	0.41	$	0.15	$	1.00	$	0.42

Our basic and diluted loss from discontinued operations attributable to Liberty Global shareholders per LiLAC Share for the three and nine months ended September 30, 2017 is presented below. These amounts relate to the operations of the LiLAC Group.

	Three months ended September 30, 2017			Nine months ended September 30, 2017
Basic and diluted loss from discontinued operations attributable to Liberty Global shareholders per LiLAC Share	$	(1.93	)	$	(2.30	)
Weighted average ordinary shares outstanding (LiLAC Shares) - basic and diluted	171,304,720			172,051,945