Acquisitions and Dispositions (Tables)

9 Months Ended

Sep. 30, 2020

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 that are classified as held for sale at September 30, 2020 are summarized below (in millions):

Assets:
Current assets (a)	$	4,324.2
Property and equipment, net	7,786.4
Goodwill	7,489.3
Other assets, net	3,671.4
Total assets	$	23,271.3
Liabilities:
Current portion of debt and finance lease obligations	$	2,369.9
Other accrued and current liabilities	1,916.3
Long-term debt and finance lease obligations	16,364.7
Other long-term liabilities	1,179.1
Total liabilities	$	21,830.0

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(a) Amount includes restricted cash, but excludes cash and cash equivalents, as the cash and cash equivalents of the U.K. JV Entities will be retained by Liberty Global upon the formation of the U.K. JV and are therefore not classified as held for sale.

The operations of the Vodafone Disposal Group and UPC DTH are presented as discontinued operations in our condensed consolidated statements of operations and cash flows for the three and nine months ended September 30, 2019, as applicable, and are summarized in the following tables. These amounts exclude intercompany revenue and expenses that are eliminated within our condensed consolidated statement of operations. For information regarding our basic and diluted weighted average ordinary shares outstanding, see note 15.

	Vodafone Disposal Group (a)
	in millions, except per share amount
Three months ended September 30, 2019
Revenue	$	290.3
Operating income	$	156.1
Earnings before income taxes	$	127.4
Income tax expense	(35.2		)
Net earnings attributable to Liberty Global shareholders	$	92.2
Basic and diluted earnings from discontinued operations attributable to Liberty Global shareholders per share	$	0.13

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(a) Includes the operating results of the Vodafone Disposal Group through July 31, 2019, the date the Vodafone Disposal Group was sold.

	Vodafone Disposal Group (a)			UPC DTH (b)		Total
	in millions, except per share amount
Nine months ended September 30, 2019
Revenue	$	2,017.9		$	36.7	$	2,054.6
Operating income	$	1,165.6		$	10.7	$	1,176.3
Earnings before income taxes	$	994.7		$	9.5	$	1,004.2
Income tax expense	(273.9		)	—		(273.9		)
Net earnings attributable to Liberty Global shareholders	$	720.8		$	9.5	$	730.3
Basic and diluted earnings from discontinued operations attributable to Liberty Global shareholders per share						$	1.00

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(a) Includes the operating results of the Vodafone Disposal Group through July 31, 2019, the date the Vodafone Disposal Group was sold.

(b)

Includes the operating results of UPC DTH through May 2, 2019, the date UPC DTH was sold.