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CONSOLIDATED STATEMENTS OF CASH FLOWS
zł in Millions, $ in Millions
12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Cash flows from operating activities:      
Net earnings (loss) $ (3,873.8) $ 1,986.3 $ 13,610.1
Earnings from discontinued operations 0.0 881.0 82.6
Earnings (loss) from continuing operations (3,873.8) 1,105.3 13,527.5
Adjustments to reconcile earnings (loss) from continuing operations to net cash provided by operating activities of continuing operations:      
Share-based compensation expense 231.0 192.1 308.1
Depreciation and amortization 2,315.2 2,171.4 2,353.7
Impairment, restructuring and other operating items, net 67.9 85.1 (19.0)
Amortization of deferred financing costs and non-cash interest 65.7 31.0 31.9
Realized and unrealized losses (gains) on derivative instruments, net 526.3 (1,213.1) (537.3)
Foreign currency transaction losses (gains), net 70.8 (1,407.2) (1,324.5)
Realized and unrealized losses (gains) due to changes in fair values of certain investments, net 557.3 323.5 (820.6)
Losses (gains) on debt extinguishment, net 1.4 (2.8) 90.6
Share of results of affiliates, net 2,019.3 1,267.8 175.4
Deferred income tax expense (benefit) (33.1) 172.5 318.2
Gain associated with the Telenet Wyre Transaction (377.8) 0.0 0.0
Gain on Telenet Tower Sale 0.0 (700.5) 0.0
Gain on U.K. JV Transaction 0.0 0.0 (10,873.8)
Gain on AtlasEdge JV Transactions 0.0 0.0 (227.5)
Changes in operating assets and liabilities, net of the effects of acquisitions and dispositions:      
Receivables and other operating assets 1,252.1 796.3 707.1
Payables and accruals (1,194.2) (755.9) (872.3)
Net cash provided by operating activities of continuing operations 2,165.9 2,786.7 3,364.0
Net cash provided by operating activities of discontinued operations 0.0 51.1 185.0
Net cash provided by operating activities 2,165.9 2,837.8 3,549.0
Cash flows from investing activities:      
Cash paid for investments (8,130.9) (9,433.8) (7,261.8)
Cash received from the sale of investments 6,988.6 9,213.3 6,170.8
Capital expenditures, net (1,386.0) (1,303.2) (1,408.0)
Dividend distributions received from the VMO2 JV 815.2 477.9 0.0
Cash received (paid) in connection with acquisitions, net of cash acquired (114.6) 2.7 (70.8)
Cash received in connection with the sale of UPC Poland 0.0   0.0
Cash received in connection with the Telenet Tower Sale 0.0 779.9 0.0
Cash released from the Vodafone Escrow Accounts, net 0.0 6.5 214.9
Cash and restricted cash contributed to the VMO2 JV in connection with the U.K. JV Transaction 0.0 0.0 (3,424.0)
Net cash received in connection with the AtlasEdge JV Transactions 0.0 0.0 144.5
Loans to the VodafoneZiggo JV 0.0 0.0 (123.0)
Net cash received in connection with the U.K. JV Transaction 0.0 0.0 108.6
Other investing activities, net (17.3) 0.0 (96.7)
Net cash provided (used) by investing activities of continuing operations (1,845.0) 1,296.6 (5,745.5)
Net cash used by investing activities of discontinued operations 0.0 (15.6) (51.0)
Net cash provided (used) by investing activities (1,845.0) 1,281.0 (5,796.5)
Cash flows from financing activities:      
Borrowings of debt 3,167.0 4.7 2,570.7
Operating-related vendor financing additions 648.5 522.7 1,781.6
Repayments and repurchases of debt and finance lease obligations:      
Debt (excluding vendor financing) (1,005.4) (980.9) (1,721.0)
Principal payments on operating-related vendor financing (568.8) (616.1) (1,408.0)
Principal payments on capital-related vendor financing (256.1) (210.1) (964.4)
Principal payments on finance leases (27.9) (62.0) (75.7)
Repurchases of Liberty Global common shares (1,494.7) (1,703.4) (1,580.4)
Acquisition of shares in connection with the Telenet Takeover Bid (985.7) 0.0 0.0
Net cash received (paid) related to derivative instruments (59.6) (50.0) 143.6
Dividend distributions by subsidiaries to noncontrolling interest owners (46.9) (61.1) (137.6)
Other financing activities, net (62.8) (117.2) (121.4)
Net cash used by financing activities of continuing operations (692.4) (3,273.4) (1,512.6)
Net cash used by financing activities of discontinued operations 0.0 (2.6) (33.3)
Net cash used by financing activities (692.4) (3,276.0) (1,545.9)
Effect of exchange rate changes on cash and cash equivalents and restricted cash:      
Continuing operations 62.0 (27.7) (6.6)
Discontinued operations 0.0 0.0 0.0
Effect of exchange rate changes on cash and cash equivalents and restricted cash 62.0 (27.7) (6.6)
Net increase (decrease) in cash and cash equivalents and restricted cash:      
Continuing operations (309.5) 782.2 (3,900.7)
Discontinued operations 0.0 32.9 100.7
Total (309.5) 815.1 (3,800.0)
Cash and cash equivalents and restricted cash:      
Beginning of year 1,732.4 917.3 4,717.3
Net increase (decrease) (309.5) 815.1 (3,800.0)
End of year 1,422.9 1,732.4 917.3
Cash paid for interest:      
Continuing operations 885.2 547.1 830.3
Discontinued operations 0.0 0.3 1.7
Total 885.2 547.4 832.0
Net cash paid for taxes:      
Continuing operations 494.3 164.3 156.2
Discontinued operations 0.0 7.4 34.2
Total 494.3 171.7 190.4
VMO2 JV      
Changes in operating assets and liabilities, net of the effects of acquisitions and dispositions:      
Dividends received 427.6 454.6 214.8
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 196.7 (241.2) 32.0
Changes in operating assets and liabilities, net of the effects of acquisitions and dispositions:      
Dividends received $ 110.2 $ 266.6 $ 311.7