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CONSOLIDATED STATEMENTS OF CASH FLOWS
zł in Millions, $ in Millions
12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Cash flows from operating activities:      
Net earnings (loss) $ 1,986.3 $ 13,610.1 $ (1,466.7)
Earnings from discontinued operations 881.0 82.6 58.4
Earnings (loss) from continuing operations 1,105.3 13,527.5 (1,525.1)
Adjustments to reconcile earnings (loss) from continuing operations to net cash provided by operating activities of continuing operations:      
Share-based compensation expense 192.1 308.1 348.0
Depreciation and amortization 2,171.4 2,353.7 2,227.2
Impairment, restructuring and other operating items, net 85.1 (19.0) 97.4
Amortization of deferred financing costs and non-cash interest 31.0 31.9 44.8
Realized and unrealized losses (gains) on derivative instruments, net (1,191.7) (622.9) 878.7
Foreign currency transaction losses (gains), net (1,407.2) (1,324.5) 1,409.3
Realized and unrealized losses (gains) due to changes in fair values of certain investments, net 302.1 (735.0) (45.2)
Losses (gains) on debt extinguishment, net (2.8) 90.6 233.2
Share of results of affiliates, net 1,267.8 175.4 245.3
Deferred income tax expense (benefit) 172.5 318.2 (262.9)
Gain on Telenet Tower Sale (700.5) 0.0 0.0
Gain on U.K. JV Transaction 0.0 (10,873.8) 0.0
Gain on AtlasEdge JV Transactions 0.0 (227.5) 0.0
Changes in operating assets and liabilities, net of the effects of acquisitions and dispositions:      
Receivables and other operating assets 796.3 707.1 947.3
Payables and accruals (755.9) (872.3) (830.7)
Net cash provided by operating activities of continuing operations 2,786.7 3,364.0 4,016.8
Net cash provided by operating activities of discontinued operations 51.1 185.0 169.0
Net cash provided by operating activities 2,837.8 3,549.0 4,185.8
Cash flows from investing activities:      
Cash paid for investments (9,433.8) (7,261.8) (8,240.5)
Cash received from sale of investments 9,213.3 6,170.8 6,031.9
Cash received in connection with the sale of UPC Poland 1,553.3 0.0 0.0
Capital expenditures, net (1,303.2) (1,408.0) (1,292.8)
Cash received in connection with the Telenet Tower Sale 779.9 0.0
Dividend distributions received from the VMO2 JV 477.9 0.0 0.0
Cash released from (used to fund) the Vodafone Escrow Accounts, net 6.5 214.9 104.9
Cash received (paid) in connection with acquisitions, net of cash acquired 2.7 (70.8) (5,267.8)
Cash received in connection with the Atlas Edge JV Transactions 0.0 144.5 0.0
Cash and restricted cash contributed to the VMO2 JV in connection with the U.K. JV Transaction 0.0 (3,424.0) 0.0
Loans to the VodafoneZiggo JV 0.0 (123.0) (122.7)
Net cash received in connection with the U.K. JV Transaction 0.0 108.6 0.0
Other investing activities, net 0.0 (96.7) (30.2)
Net cash provided (used) by investing activities of continuing operations 1,296.6 (5,745.5) (8,817.2)
Net cash used by investing activities of discontinued operations (15.6) (51.0) (56.8)
Net cash provided (used) by investing activities 1,281.0 (5,796.5) (8,874.0)
Cash flows from financing activities:      
Borrowings of debt 4.7 2,570.7 13,205.8
Operating-related vendor financing additions 522.7 1,781.6 2,754.5
Repayments and repurchases of debt and finance lease obligations:      
Debt (excluding vendor financing) (980.9) (1,721.0) (8,857.1)
Principal payments on operating-related vendor financing (616.1) (1,408.0) (2,381.7)
Principal payments on capital-related vendor financing (210.1) (964.4) (2,088.8)
Principal payments on finance leases (62.0) (75.7) (86.0)
Repurchases of Liberty Global ordinary shares (1,703.4) (1,580.4) (1,072.3)
Distributions by subsidiaries to noncontrolling interest owners (61.1) (137.6) (137.1)
Net cash received (paid) related to derivative instruments (50.0) 143.6 129.1
Payment of financing costs and debt premiums (28.5) (23.3) (290.0)
Other financing activities, net (88.7) (98.1) (71.9)
Net cash provided (used) by financing activities of continuing operations (3,273.4) (1,512.6) 1,104.5
Net cash used by financing activities of discontinued operations (2.6) (33.3) (20.9)
Net cash provided (used) by financing activities (3,276.0) (1,545.9) 1,083.6
Effect of exchange rate changes on cash and cash equivalents and restricted cash:      
Continuing operations (27.7) (6.6) 141.0
Discontinued operations 0.0 0.0 0.0
Total (27.7) (6.6) 141.0
Net increase (decrease) in cash and cash equivalents and restricted cash:      
Continuing operations 782.2 (3,900.7) (3,554.9)
Discontinued operations 32.9 100.7 91.3
Total 815.1 (3,800.0) (3,463.6)
Cash and cash equivalents and restricted cash:      
Beginning of year 917.3 4,717.3 8,180.9
Net increase (decrease) 815.1 (3,800.0) (3,463.6)
End of year 1,732.4 917.3 4,717.3
Cash paid for interest:      
Continuing operations 547.1 830.3 1,126.0
Discontinued operations 0.3 1.7 1.7
Total 547.4 832.0 1,127.7
Net cash paid for taxes:      
Continuing operations 164.3 156.2 228.9
Discontinued operations 7.4 34.2 18.8
Total 171.7 190.4 247.7
VMO2 JV      
Changes in operating assets and liabilities, net of the effects of acquisitions and dispositions:      
Dividends received 454.6 214.8 0.0
Cash flows from investing activities:      
Dividend distributions received from the VMO2 JV 477.9    
VodafoneZiggo JV      
Adjustments to reconcile earnings (loss) from continuing operations to net cash provided by operating activities of continuing operations:      
Share of results of affiliates, net (241.2) 32.0 201.1
Changes in operating assets and liabilities, net of the effects of acquisitions and dispositions:      
Dividends received 266.6 311.7 249.5
Cash flows from investing activities:      
Dividend distributions received from the VMO2 JV $ 266.6 $ 311.7 $ 249.5