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Segment Reporting (Tables)
9 Months Ended
Sep. 30, 2023
Segment Reporting, Measurement Disclosures [Abstract]  
Revenue and Operating Cash Flow by Segment
 Three months ended
September 30,
Nine months ended
September 30,
 2023202220232022
 in millions
Increase (decrease) to revenue (a):
Central and Other$65.4 $60.9 $184.0 $180.8 
Intersegment eliminations(65.4)(60.9)(184.0)(180.8)
Total$— $— $— $— 
Increase (decrease) to Adjusted EBITDA (b):
Switzerland$(16.4)$(9.7)$(48.3)$(29.9)
Belgium(2.2)(2.1)(6.6)(6.5)
Ireland(6.0)(3.3)(18.0)(10.6)
Central and Other40.0 29.2 118.5 91.7 
Intersegment eliminations(15.4)(14.1)(45.6)(44.7)
Total$— $— $— $— 
Increase (decrease) to property and equipment additions (c):
Switzerland$5.8 $5.3 $17.0 $16.7 
Belgium7.0 6.4 20.8 20.4 
Ireland2.6 2.4 7.8 7.6 
Central and Other— — — — 
Intersegment eliminations(15.4)(14.1)(45.6)(44.7)
Total$— $— $— $— 
_______________

(a)Amounts reflect the revenue recognized within our T&I Function, as well as any applicable markup, related to the Tech Framework.

(b)Amounts reflect the charge to each respective consolidated reportable segment related to the service and maintenance component of the Tech Framework and, additionally for Central and Other, the Adjusted EBITDA impact of the value attributed to centrally-held internally developed technology that is embedded within our various CPE, as well as any applicable markup.

(c)Amounts reflect the charge to each respective consolidated reportable segment related to the value attributed to centrally-held internally developed technology that is embedded within our various CPE, as well as any applicable markup.
despite only holding a 50% noncontrolling interest in both the VMO2 JV and the VodafoneZiggo JV, we present 100% of the revenue and Adjusted EBITDA of those entities in the tables below. Our share of the operating results of the VMO2 JV and the VodafoneZiggo JV is included in share of results of affiliates, net, in our condensed consolidated statements of operations.
Revenue
 Three months ended
September 30,
Nine months ended
September 30,
 20232022 (a)20232022 (a)
 in millions
Switzerland$859.3 $789.8 $2,482.9 $2,377.3 
Belgium775.2 665.1 2,296.7 2,078.6 
Ireland125.5 116.1 372.4 365.4 
Central and Other164.3 238.3 615.0 720.2 
Intersegment eliminations (b)(69.8)(63.0)(196.1)(187.7)
Total$1,854.5 $1,746.3 $5,570.9 $5,353.8 
VMO2 JV
$3,503.8 $3,042.1 $10,058.0 $9,642.7 
VodafoneZiggo JV
$1,125.2 $1,041.7 $3,297.0 $3,237.3 
_______________

(a)Amounts have been revised, as applicable, to reflect the retrospective impact of the Tech Framework, as described above.

(b)Amounts primarily relate to (i) the revenue recognized within our T&I Function related to the Tech Framework and (ii) for the nine months ended September 30, 2022, transactions between our continuing and discontinued operations.
Adjusted EBITDA
 Three months ended
September 30,
Nine months ended
September 30,
 20232022 (a)20232022 (a)
 in millions
Switzerland$311.0 $292.8 $861.1 $850.3 
Belgium339.8 316.6 988.7 982.9 
Ireland45.9 46.3 134.7 141.9 
Central and Other(83.6)22.4 (115.3)68.5 
Intersegment eliminations (b)(15.4)(14.1)(45.6)(45.5)
Total$597.7 $664.0 $1,823.6 $1,998.1 
VMO2 JV
$1,170.9 $1,060.5 $3,335.6 $3,515.2 
VodafoneZiggo JV
$518.3 $501.4 $1,474.7 $1,530.1 
_______________

(a)Amounts have been revised, as applicable, to reflect the retrospective impact of the Tech Framework, as described above.

(b)Amounts relate to (i) the Adjusted EBITDA impact to Central and Other of the value attributed to centrally-held internally developed technology that is embedded within our various CPE, as well as any applicable markup, and (ii) for the nine months ended September 30, 2022, transactions between our continuing and discontinued operations.

The following table provides a reconciliation of earnings (loss) from continuing operations to Adjusted EBITDA:

 Three months ended
September 30,
Nine months ended
September 30,
 2023202220232022
 in millions
Earnings (loss) from continuing operations$822.7 $2,431.7 $(402.1)$5,789.6 
Income tax expense (benefit)(1.7)64.8 170.0 209.6 
Other income, net(39.8)(21.7)(159.5)(63.0)
Gain associated with the Telenet Wyre Transaction
(377.8)— (377.8)— 
Gain on Telenet Tower Sale
— (7.1)— (700.4)
Share of results of affiliates, net240.8 (501.0)341.1 (812.6)
Realized and unrealized losses (gains) due to changes in fair values of certain investments, net(71.5)2.1 344.8 207.4 
Foreign currency transaction gains, net(664.4)(1,462.7)(417.9)(3,186.4)
Realized and unrealized gains on derivative instruments, net(177.1)(546.9)(193.8)(1,668.8)
Interest expense241.4 149.7 656.0 416.8 
Operating income (loss)(27.4)108.9 (39.2)192.2 
Impairment, restructuring and other operating items, net(13.7)6.4 6.6 74.1 
Depreciation and amortization584.0 506.0 1,681.8 1,588.4 
Share-based compensation expense54.8 42.7 174.4 143.4 
Adjusted EBITDA$597.7 $664.0 $1,823.6 $1,998.1 
Property and Equipment Additions of our Reportable Segments
The property and equipment additions of our reportable segments (including capital additions financed under capital-related vendor financing or finance lease arrangements) are presented below and reconciled to the capital expenditure amounts included in our condensed consolidated statements of cash flows. For additional information concerning capital additions financed under vendor financing and finance lease arrangements, see notes 8 and 10, respectively.
 Nine months ended
September 30,
 20232022 (a)
 in millions
Switzerland$406.8 $412.5 
Belgium512.1 454.3 
Ireland128.0 91.0 
Central and Other (b)106.4 176.5 
Intersegment eliminations (c)(45.6)(44.7)
Total property and equipment additions1,107.7 1,089.6 
Assets acquired under capital-related vendor financing arrangements(129.9)(142.9)
Assets acquired under finance leases(20.8)(25.8)
Changes in current liabilities related to capital expenditures59.2 8.4 
Total capital expenditures, net$1,016.2 $929.3 
Property and equipment additions:
VMO2 JV
$1,949.1 $2,053.7 
VodafoneZiggo JV
$737.8 $683.7 
_______________

(a)Amounts have been revised, as applicable, to reflect the retrospective impact of the Tech Framework, as described above.

(b)Includes (i) property and equipment additions representing centrally-owned assets that benefit our operating segments, (ii) the net impact of certain centrally-procured network equipment that is ultimately transferred to our operating segments and (iii) property and equipment additions of our operations in Slovakia.

(c)Amounts reflect the charge under the Tech Framework to each respective consolidated reportable segment related to the value attributed to centrally-held internally developed technology that is embedded within our various CPE, as well as any applicable markup.
Schedule of Revenue by Major Category
Our revenue by major category for our consolidated reportable segments is set forth below:
 Three months ended
September 30,
Nine months ended
September 30,
 2023202220232022
 in millions
Residential revenue:
Residential fixed revenue (a):
Subscription revenue (b):
Broadband internet$385.6 $336.1 $1,111.0 $1,037.5 
Video276.6 261.3 822.5 817.2 
Fixed-line telephony91.2 91.6 273.3 291.1 
Total subscription revenue753.4 689.0 2,206.8 2,145.8 
Non-subscription revenue18.3 11.7 43.8 36.7 
Total residential fixed revenue771.7 700.7 2,250.6 2,182.5 
Residential mobile revenue (c):
Subscription revenue (b)401.4 356.5 1,133.5 1,056.7 
Non-subscription revenue119.8 126.8 374.2 387.9 
Total residential mobile revenue521.2 483.3 1,507.7 1,444.6 
Total residential revenue1,292.9 1,184.0 3,758.3 3,627.1 
B2B revenue (d):
Subscription revenue144.6 127.4 418.9 387.6 
Non-subscription revenue234.8 214.0 688.9 644.7 
Total B2B revenue379.4 341.4 1,107.8 1,032.3 
Other revenue (e)182.2 220.9 704.8 694.4 
Total$1,854.5 $1,746.3 $5,570.9 $5,353.8 
_______________

(a)Residential fixed subscription revenue includes amounts received from subscribers for ongoing services and the recognition of deferred installation revenue over the associated contract period. Residential fixed non-subscription revenue includes, among other items, channel carriage fees, late fees and revenue from the sale of equipment.

(b)Residential subscription revenue from subscribers who purchase bundled services at a discounted rate is generally allocated proportionally to each service based on the standalone price for each individual service. As a result, changes in the standalone pricing of our fixed and mobile products or the composition of bundles can contribute to changes in our product revenue categories from period to period.

(c)Residential mobile subscription revenue includes amounts received from subscribers for ongoing services. Residential mobile non-subscription revenue includes, among other items, interconnect revenue and revenue from sales of mobile handsets and other devices.

(d)B2B subscription revenue represents revenue from (i) services provided to small or home office (SOHO) subscribers and (ii) mobile services provided to medium and large enterprises. SOHO subscribers pay a premium price to receive expanded service levels along with broadband internet, video, fixed-line telephony or mobile services that are the same or similar to the mass marketed products offered to our residential subscribers. B2B non-subscription revenue includes (a) revenue from business broadband internet, video, fixed-line telephony and data services offered to medium and large
enterprises and, fixed-line and mobile services on a wholesale basis, to other operators and (b) revenue from long-term leases of portions of our network.(e)Other revenue includes, among other items, (i) broadcasting revenue in Belgium, Ireland and Switzerland, (ii) revenue earned from the U.K. JV Services and NL JV Services, (iii) revenue earned from the sale of CPE to the VodafoneZiggo JV and (iv) revenue earned from transitional and other services provided to various third parties.
Schedule of Long-Lived Assets by Geographic Segments
The revenue of our geographic segments is set forth below:
 Three months ended
September 30,
Nine months ended
September 30,
 2023202220232022
 in millions
Switzerland$859.3 $789.8 $2,482.9 $2,377.3 
Belgium743.1 665.1 2,190.8 2,078.6 
Ireland125.5 116.1 372.4 365.4 
Slovakia12.8 12.0 39.2 37.3 
Other, including intersegment eliminations (a)113.8 163.3 485.6 495.2 
Total$1,854.5 $1,746.3 $5,570.9 $5,353.8 
VMO2 JV (U.K.)
$3,503.8 $3,042.1 $10,058.0 $9,642.7 
VodafoneZiggo JV (Netherlands)
$1,125.2 $1,041.7 $3,297.0 $3,237.3 
______________

(a)Revenue from our other geographic segments relates to (i) our Central functions, most of which are located in the Netherlands and the U.K., and (ii) certain other operations at Telenet, primarily in the U.S. and Luxembourg.