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LIBERTY GLOBAL PLC

(LBTYA)
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Liberty Global : VodafoneZiggo Group B.V. Condensed Consolidated Financial Statements – September 30, 2021

11/22/2021 | 04:06pm EST

VodafoneZiggo Group B.V.

Quarterly Report

September 30, 2021

VodafoneZiggo Group B.V.

Boven Vredenburgpassage 128,

3511 WR Utrecht

The Netherlands

VODAFONEZIGGO GROUP B.V.

TABLE OF CONTENTS

Page

Number

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Condensed Consolidated Balance Sheets as of September 30, 2021 and December 31, 2020 (unaudited) .............

2

Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2021

and 2020 (unaudited).............................................................................................................................................

4

Condensed Consolidated Statement of Owner's Equity for the Nine Months Ended September 30, 2021

(unaudited).............................................................................................................................................................

5

Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2021 and 2020

(unaudited).............................................................................................................................................................

6

Notes to Condensed Consolidated Financial Statements (unaudited) ......................................................................

8

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF

OPERATIONS...........................................................................................................................................................

28

1

VODAFONEZIGGO GROUP B.V.

CONDENSED CONSOLIDATED BALANCE SHEETS

(unaudited)

September 30,

December 31,

2021

2020

in millions

ASSETS

Current assets:

Cash and cash equivalents ........................................................................................................

174.7

300.9

Trade receivables, net ...............................................................................................................

162.6

167.2

Related-partyreceivables (note 10)..........................................................................................

44.9

33.6

Prepaid expenses.......................................................................................................................

35.7

41.2

Derivative instruments (note 4) ................................................................................................

76.7

51.1

Contract assets (note 3).............................................................................................................

150.7

154.0

Other current assets, net (note 3) ..............................................................................................

100.4

124.9

...............................................................................................................Total current assets

745.7

872.9

Property and equipment, net (notes 6 and 8)...............................................................................

4,748.2

4,877.3

Goodwill (note 6) ........................................................................................................................

7,375.5

7,375.5

Intangible assets subject to amortization, net (note 6) ................................................................

5,283.6

5,586.4

Long-termcontract assets (note 3) ..............................................................................................

60.8

60.0

Other assets, net (notes 3, 4 and 8)..............................................................................................

526.2

556.2

...........................................................................................................................Total assets

18,740.0

19,328.3

The accompanying notes are an integral part of these condensed consolidated financial statements.

2

VODAFONEZIGGO GROUP B.V.

CONDENSED CONSOLIDATED BALANCE SHEETS - (Continued)

(unaudited)

September 30,

December 31,

2021

2020

in millions

LIABILITIES AND OWNER'S EQUITY

Current liabilities:

Accounts payable (note 10) ......................................................................................................

227.4

312.5

Accrued and other current liabilities (notes 6, 8 and 10)

467.0

389.8

Deferred revenue and advance payments from subscribers and others (note 3) ......................

210.6

208.0

VAT payable.............................................................................................................................

144.6

140.9

Derivative instruments (note 4) ................................................................................................

88.4

82.6

Accrued interest (note 7) ..........................................................................................................

89.8

136.8

Current portion of third-party debt and finance lease obligations (notes 7 and 8) ...................

1,038.4

1,156.8

.........................................................................................................Total current liabilities

2,266.2

2,427.4

Long-term debt and finance lease obligations (notes 7 and 8):

Third-party................................................................................................................................

9,802.5

9,508.5

Related-party(note 10).............................................................................................................

1,815.8

1,607.9

Deferred income taxes (note 9) ...................................................................................................

1,119.7

1,173.9

Other long-termliabilities (notes 3, 4 and 8) ..............................................................................

742.4

1,165.3

.....................................................................................................................Total liabilities

15,746.6

15,883.0

Commitments and contingencies (notes 4, 10 and 11)

Total owner's equity ...................................................................................................................

2,993.4

3,445.3

......................................................................................Total liabilities and owner's equity

18,740.0

19,328.3

The accompanying notes are an integral part of these condensed consolidated financial statements.

3

VODAFONEZIGGO GROUP B.V.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited)

Three months ended

Nine months ended

September 30,

September 30,

2021

2020

2021

2020

in millions

Revenue (notes 3, 10 and 12) ......................................................

1,023.1

1,004.8

3,040.8

2,975.8

Operating costs and expenses (exclusive of depreciation and

amortization, shown separately below):

Programming and other direct costs of services (notes 3 and

216.1

214.2

639.0

604.5

10) ........................................................................................

Other operating (notes 3 and 10) .............................................

113.0

111.7

353.7

350.4

Selling, general and administrative (SG&A) (note 10)...........

152.5

143.4

452.6

433.0

Charges for JV Services (note 10) ...........................................

51.4

57.0

164.1

170.8

Depreciation and amortization ................................................

406.8

392.7

1,177.9

1,190.7

Impairment, restructuring and other operating items, net........

11.8

(21.9)

27.1

(18.6)

951.6

897.1

2,814.4

2,730.8

................................................................Operating income

71.5

107.7

226.4

245.0

Non-operating income (expense):

Interest expense:

Third-party ............................................................................

(103.6)

(106.3)

(311.5)

(334.8)

Related-party(note 10) .........................................................

(24.9)

(21.9)

(69.8)

(61.2)

Realized and unrealized gains (losses) on derivative

157.1

(231.1)

392.4

(106.1)

instruments, net (note 4).......................................................

Foreign currency transaction gains (losses), net......................

(127.9)

223.9

(291.7)

234.7

Losses on debt extinguishment, net (note 7) ...........................

-

-

(7.6)

(29.6)

Other income, net.....................................................................

-

0.2

-

0.1

(99.3)

(135.2)

(288.2)

(296.9)

....................................................Loss before income taxes

(27.8)

(27.5)

(61.8)

(51.9)

Income tax benefit (expense) (note 9) ........................................

6.9

6.3

14.7

(47.0)

Net loss................................................................................

(20.9)

(21.2)

(47.1)

(98.9)

The accompanying notes are an integral part of these condensed consolidated financial statements.

4

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Liberty Global plc published this content on 22 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 November 2021 21:04:08 UTC.


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