Liberty Global (LBTYA) 10-K/A28 Mar 232022 FY Annual report (amended)Financial data

Company Profile

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
Cover Page - USD ($) $ in Billions	Dec. 31, 2022	Jan. 31, 2023	Jun. 30, 2022
Entity Information [Line Items]
Document Type	10-K/A
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-35961
Entity Registrant Name	Liberty Global plc
Entity Incorporation, State or Country Code	X0
Entity Tax Identification Number	98-1112770
Entity Address, Address Line One	Griffin House
Entity Address, Address Line Two	161 Hammersmith Rd
Entity Address, City or Town	London
Entity Address, Country	GB
Entity Address, Postal Zip Code	W6 8BS
Country Region	44
City Area Code	208
Local Phone Number	483.6449
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 9.7
Documents Incorporated by Reference	Portions of the definitive proxy statement for the Registrant’s 2023 Annual General Meeting of Shareholders are incorporated by reference in Part III of this Form 10-K .
Entity Central Index Key	0001570585
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	true
Amendment Description	Amended to include financial statements required under Rule 3-09 of Regulation S-X
Class A ordinary shares
Entity Information [Line Items]
Title of 12(b) Security	Class A ordinary shares
Trading Symbol	LBTYA
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		171,931,486
Class B ordinary shares
Entity Information [Line Items]
Title of 12(b) Security	Class B ordinary shares
Trading Symbol	LBTYB
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		12,994,000
Class C ordinary shares
Entity Information [Line Items]
Title of 12(b) Security	Class C ordinary shares
Trading Symbol	LBTYK
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		271,214,310

Audit Information

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2022
Audit Information [Abstract]
Auditor Name	KPMG LLP
Auditor Location	Denver, CO
Auditor Firm ID	185

SCHEDULE I (Parent Company Info

SCHEDULE I (Parent Company Information)	12 Months Ended
SCHEDULE I (Parent Company Information)	Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]
SCHEDULE I (Parent Company Information)	LIBERTY GLOBAL PLC SCHEDULE I (Parent Company Information - See Notes to Consolidated Financial Statements) CONDENSED BALANCE SHEETS (Parent Company Only) December 31, 2022 2021 in millions ASSETS Current assets: Cash and cash equivalents $ 1.8 $ 1.7 Other receivables — related-party 89.8 31.3 Current notes receivable — related-party 0.8 0.8 Other current assets 7.5 30.5 Total current assets 99.9 64.3 Long-term notes receivable — related-party 190.0 455.4 Investments in consolidated subsidiaries, including intercompany balances 51,050.7 52,617.8 Other assets, net 16.8 6.7 Total assets $ 51,357.4 $ 53,144.2 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 1.1 $ 1.1 Other payables — related-party 78.5 72.0 Other current liabilities — related-party 0.6 — Current portion of notes payable — related-party 12,590.2 11,281.7 Other accrued and current liabilities 25.0 23.9 Total current liabilities 12,695.4 11,378.7 Long-term notes payable — related-party 16,200.9 15,822.5 Other long-term liabilities 24.7 8.1 Total liabilities 28,921.0 27,209.3 Commitments and contingencies Shareholders’ equity: Class A ordinary shares, $0.01 nominal value. Issued and outstanding 171,917,370 and 174,310,558 shares, respectively 1.8 1.8 Class B ordinary shares, $0.01 nominal value. Issued and outstanding 12,994,000 and 12,930,839 shares, respectively 0.1 0.1 Class C ordinary shares, $0.01 nominal value. Issued and outstanding 274,436,585 and 340,114,729 shares, respectively 2.7 3.4 Additional paid-in capital 2,300.8 3,893.0 Accumulated earnings 19,617.7 18,144.5 Accumulated other comprehensive earnings, net of taxes 513.4 3,892.2 Treasury shares, at cost (0.1) (0.1) Total shareholders’ equity 22,436.4 25,934.9 Total liabilities and shareholders’ equity $ 51,357.4 $ 53,144.2 LIBERTY GLOBAL PLC SCHEDULE I (Parent Company Information - See Notes to Consolidated Financial Statements) CONDENSED STATEMENTS OF OPERATIONS (Parent Company Only) Year ended December 31, 2022 2021 2020 in millions Operating costs and expenses: Selling, general and administrative (including share-based compensation) $ 55.7 $ 77.6 $ 58.8 Related-party fees and allocations 239.3 182.5 36.0 Depreciation and amortization 1.2 1.4 1.4 Operating loss (296.2) (261.5) (96.2) Non-operating income (expense): Interest expense — related-party (1,308.7) (1,185.6) (1,086.9) Interest income — related-party 15.1 31.7 45.1 Foreign currency transaction gains (losses), net 274.8 317.7 (330.2) Realized and unrealized gains on derivative instruments, net 61.5 9.0 — Other income, net 0.3 0.1 2.1 (957.0) (827.1) (1,369.9) Loss before income taxes and equity in earnings (loss) of consolidated subsidiaries, net (1,253.2) (1,088.6) (1,466.1) Equity in earnings (loss) of consolidated subsidiaries, net 2,726.4 14,530.5 (401.0) Income tax benefit (expense) — (15.1) 239.1 Net earnings (loss) $ 1,473.2 $ 13,426.8 $ (1,628.0) LIBERTY GLOBAL PLC SCHEDULE I (Parent Company Information - See Notes to Consolidated Financial Statements) CONDENSED STATEMENTS OF CASH FLOWS (Parent Company Only) Year ended December 31, 2022 2021 2020 in millions Cash flows from operating activities: Net earnings (loss) $ 1,473.2 $ 13,426.8 $ (1,628.0) Adjustments to reconcile net earnings (loss) to net cash used by operating activities: Equity in loss (earnings) of consolidated subsidiaries, net (2,726.4) (14,530.5) 401.0 Share-based compensation expense 28.4 49.4 30.4 Related-party fees and allocations 239.3 182.5 36.0 Depreciation and amortization 1.2 1.4 1.4 Realized and unrealized gains on derivative instruments, net (61.5) (9.0) — Foreign currency transaction losses (gains), net (274.8) (317.7) 330.2 Deferred income tax expense (benefit) — 15.1 (15.1) Changes in operating assets and liabilities: Receivables and other operating assets 138.5 85.3 (135.0) Payables and accruals 654.7 709.9 865.9 Net cash used by operating activities (527.4) (386.8) (113.2) Cash flows from investing activities: Net cash received related to derivative instruments 50.0 — — Distributions and repayments from (investments in and advances to) consolidated subsidiaries, net 22.4 (274.8) (494.1) Cash released from the Vodafone Escrow Accounts, net 6.5 214.9 104.9 Other investing activities, net — (0.1) (0.1) Net cash provided (used) by investing activities 78.9 (60.0) (389.3) Cash flows from financing activities: Borrowings of related-party debt 2,187.8 2,445.3 2,087.5 Repayments of related-party debt (26.5) (443.3) (483.2) Repurchases of Liberty Global ordinary shares (1,703.4) (1,580.4) (1,072.3) Proceeds from the issuance of Liberty Global shares upon exercise of options 13.0 8.9 2.2 Other financing activities, net (20.8) (15.3) (5.1) Net cash provided by financing activities 450.1 415.2 529.1 Effect of exchange rate changes on cash and cash equivalents and restricted cash (1.5) 0.1 (0.2) Net increase (decrease) in cash and cash equivalents and restricted cash 0.1 (31.5) 26.4 Cash and cash equivalents and restricted cash: Beginning of year 6.8 38.3 11.9 End of year $ 6.9 $ 6.8 $ 38.3 Details of end of year cash and cash equivalents and restricted cash: Cash and cash equivalents $ 1.8 $ 1.7 $ 33.1 Restricted cash included in other current assets 5.1 5.1 5.2 Total cash and cash equivalents and restricted cash $ 6.9 $ 6.8 $ 38.3

SCHEDULE II VALUATION AND QUALI

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS	Dec. 31, 2022
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS	LIBERTY GLOBAL PLC SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS Allowance for doubtful accounts — Trade receivables Balance at beginning of period Impact of adoption of ASU 2014-09 Additions to costs and expenses Acquisitions Dispositions Deductions or write-offs Foreign currency translation adjustments Balance at end of period in millions Year ended December 31: 2020 $ 41.7 1.4 81.8 19.4 (26.2) (73.6) 3.8 $ 48.3 2021 $ 48.3 — 16.3 (1.6) — (18.5) (2.5) $ 42.0 2022 $ 42.0 — 30.8 — — (28.5) (1.2) $ 43.1 Allowance for doubtful accounts — Loans to affiliates Balance at beginning Impact of adoption of ASU 2016-13 Additions to Foreign currency translation adjustments Balance in millions Year ended December 31: 2020 $ — 25.4 10.3 2.8 $ 38.5 2021 $ 38.5 — 1.0 (2.3) $ 37.2 2022 $ 37.2 — (4.5) (2.5) $ 30.2

SCHEDULE I (Parent Company In_2

SCHEDULE I (Parent Company Information) CONDENSED BALANCE SHEETS (Details) - Liberty Global Plc - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 1.8	$ 1.7	$ 33.1
Other receivables — related-party	89.8	31.3
Current notes receivable — related-party	0.8	0.8
Other current assets	7.5	30.5
Total current assets	99.9	64.3
Long-term notes receivable — related-party	190	455.4
Investments in consolidated subsidiaries, including intercompany balances	51,050.7	52,617.8
Other assets, net	16.8	6.7
Total assets	51,357.4	53,144.2
Current liabilities:
Accounts payable	1.1	1.1
Other payables — related-party	78.5	72
Other current liabilities — related-party	0.6	0
Current portion of notes payable — related-party	12,590.2	11,281.7
Other accrued and current liabilities	25	23.9
Total current liabilities	12,695.4	11,378.7
Long-term notes payable — related-party	16,200.9	15,822.5
Other long-term liabilities	24.7	8.1
Total liabilities	28,921	27,209.3
Commitments and contingencies
Additional paid-in capital	2,300.8	3,893
Accumulated earnings	19,617.7	18,144.5
Accumulated other comprehensive earnings, net of taxes	513.4	3,892.2
Treasury shares, at cost	(0.1)	(0.1)
Total shareholders’ equity	22,436.4	25,934.9
Total liabilities and shareholders’ equity	51,357.4	53,144.2
Class A ordinary shares
Current liabilities:
Common stock	1.8	1.8
Class B ordinary shares
Current liabilities:
Common stock	0.1	0.1
Class C ordinary shares
Current liabilities:
Common stock	$ 2.7	$ 3.4

SCHEDULE I (Parent Company In_3

SCHEDULE I (Parent Company Information) CONDENSED BALANCE SHEET - Additional Information (Details) - Liberty Global Plc - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Class A ordinary shares
Condensed Financial Statements, Captions [Line Items]
Common stock, nominal value (in dollars per share)	$ 0.01	$ 0.01
Common stock, issued (in shares)	171,917,370	174,310,558
Common stock, outstanding (in shares)	171,917,370	174,310,558
Class B ordinary shares
Condensed Financial Statements, Captions [Line Items]
Common stock, nominal value (in dollars per share)	$ 0.01	$ 0.01
Common stock, issued (in shares)	12,994,000	12,930,839
Common stock, outstanding (in shares)	12,994,000	12,930,839
Class C ordinary shares
Condensed Financial Statements, Captions [Line Items]
Common stock, nominal value (in dollars per share)	$ 0.01	$ 0.01
Common stock, issued (in shares)	274,436,585	340,114,729
Common stock, outstanding (in shares)	274,436,585	340,114,729

SCHEDULE I (Parent Company In_4

SCHEDULE I (Parent Company Information) CONDENSED STATEMENT OF OPERATIONS (Details) - Liberty Global Plc - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating costs and expenses:
Selling, general and administrative (including share-based compensation)	$ 55.7	$ 77.6	$ 58.8
Related-party fees and allocations	239.3	182.5	36
Depreciation and amortization	1.2	1.4	1.4
Operating loss	(296.2)	(261.5)	(96.2)
Non-operating income (expense):
Interest expense — related-party	(1,308.7)	(1,185.6)	(1,086.9)
Interest income — related-party	15.1	31.7	45.1
Foreign currency transaction gains (losses), net	274.8	317.7	(330.2)
Realized and unrealized gains on derivative instruments, net	61.5	9	0
Other income, net	0.3	0.1	2.1
Non-operating income (expense)	(957)	(827.1)	(1,369.9)
Loss before income taxes and equity in earnings (loss) of consolidated subsidiaries, net	(1,253.2)	(1,088.6)	(1,466.1)
Equity in earnings (loss) of consolidated subsidiaries, net	2,726.4	14,530.5	(401)
Income tax benefit (expense)	0	(15.1)	239.1
Net earnings (loss)	$ 1,473.2	$ 13,426.8	$ (1,628)

SCHEDULE I (Parent Company In_5

SCHEDULE I (Parent Company Information) CONDENSED STATEMENT OF CASH FLOWS (Details) - Liberty Global Plc - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net earnings (loss)	$ 1,473.2	$ 13,426.8	$ (1,628)
Adjustments to reconcile net earnings (loss) to net cash used by operating activities:
Equity in loss (earnings) of consolidated subsidiaries, net	(2,726.4)	(14,530.5)	401
Share-based compensation expense	28.4	49.4	30.4
Related-party fees and allocations	239.3	182.5	36
Depreciation and amortization	1.2	1.4	1.4
Realized and unrealized gains on derivative instruments, net	(61.5)	(9)	0
Foreign currency transaction losses (gains), net	(274.8)	(317.7)	330.2
Deferred income tax expense (benefit)	0	15.1	(15.1)
Changes in operating assets and liabilities:
Receivables and other operating assets	138.5	85.3	(135)
Payables and accruals	654.7	709.9	865.9
Net cash used by operating activities	(527.4)	(386.8)	(113.2)
Cash flows from investing activities:
Net cash received related to derivative instruments	50	0	0
Distributions and repayments from (investments in and advances to) consolidated subsidiaries, net	22.4	(274.8)	(494.1)
Cash released from the Vodafone Escrow Accounts, net	6.5	214.9	104.9
Other investing activities, net	0	(0.1)	(0.1)
Net cash provided (used) by investing activities	78.9	(60)	(389.3)
Cash flows from financing activities:
Borrowings of related-party debt	2,187.8	2,445.3	2,087.5
Repayments of related-party debt	(26.5)	(443.3)	(483.2)
Repurchases of Liberty Global ordinary shares	(1,703.4)	(1,580.4)	(1,072.3)
Proceeds from the issuance of Liberty Global shares upon exercise of options	13	8.9	2.2
Other financing activities, net	(20.8)	(15.3)	(5.1)
Net cash provided by financing activities	450.1	415.2	529.1
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(1.5)	0.1	(0.2)
Net increase (decrease) in cash and cash equivalents and restricted cash	0.1	(31.5)	26.4
Cash and cash equivalents and restricted cash:
Beginning of year	6.8	38.3	11.9
End of year	6.9	6.8	38.3
Details of end of year cash and cash equivalents and restricted cash:
Cash and cash equivalents	1.8	1.7	33.1
Restricted cash included in other current assets	5.1	5.1	5.2
Total cash and cash equivalents and restricted cash	$ 6.9	$ 6.8	$ 38.3

SCHEDULE II VALUATION AND QUA_2

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Allowance for doubtful accounts — Trade receivables
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 42	$ 48.3	$ 41.7
Additions to costs and expenses	30.8	16.3	81.8
Acquisitions	0	(1.6)	19.4
Dispositions	0	0	(26.2)
Deductions or write-offs	(28.5)	(18.5)	(73.6)
Foreign currency translation adjustments	(1.2)	(2.5)	3.8
Balance at end of period	43.1	42	48.3
Allowance for doubtful accounts — Trade receivables \| Adjustment
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	0	0	1.4
Balance at end of period		0	0
Allowance for doubtful accounts — Loans to affiliates
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	37.2	38.5	0
Additions to costs and expenses	(4.5)	1	10.3
Foreign currency translation adjustments	(2.5)	(2.3)	2.8
Balance at end of period	30.2	37.2	38.5
Allowance for doubtful accounts — Loans to affiliates \| Adjustment
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 0	0	25.4
Balance at end of period		$ 0	$ 0