0001570585-26-000109 | 10-Q | XBRL Viewer

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Segment Reporting (Narrative) (Details)	6 Months Ended
Segment Reporting (Narrative) (Details)	Jun. 30, 2026
Segment Reporting [Line Items]
Number of reportable segments not disclosed flag	true
VodafoneZiggo JV (nonconsolidated)
Segment Reporting [Line Items]
Performance measures percentage of segment revenue and operating cash flow presented	100.00%
Ownership percentage	50.00%
VMO2 JV (nonconsolidated)
Segment Reporting [Line Items]
Ownership percentage	50.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Derivative Instruments (Net Cash Received (Paid) Related to Derivatives) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Operating activities	$ 41.1	$ 72.7
Investing activities	0.0	(0.1)
Financing activities	(0.2)	82.7
Total	$ 40.9	$ 155.3

Basis of Presentation	6 Months Ended
Basis of Presentation	Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Liberty Global Ltd. (Liberty Global) is a Bermuda exempted company limited by shares. In these notes, the terms “we,” “our,” “our company” and “us” may refer, as the context requires, to Liberty Global or collectively to Liberty Global and its subsidiaries. We are an international provider of broadband internet, video, fixed-line telephony and mobile communications services to residential customers and businesses in Europe and are an active investor across the infrastructure, content and technology industries. We also provide innovative technology solutions and finance services. We provide residential and business-to-business (B2B) communications services in (i) Belgium and Luxembourg through certain wholly-owned subsidiaries that we collectively refer to as “Telenet” and (ii) Ireland through another wholly-owned subsidiary (VM Ireland). In addition, we own 50% noncontrolling interests in (a) a 50:50 joint venture (the VMO2 JV) with Telefónica SA (Telefónica), which provides residential and B2B communications services in the United Kingdom (U.K.), and (b) a 50:50 joint venture (the VodafoneZiggo JV) with Vodafone Group plc (Vodafone), which provides residential and B2B communications services in the Netherlands. We also have controlling interests in Wyre Holding BV (Wyre), an independent infrastructure company in Belgium, and Formula E Holdings Ltd. (Formula E), a global electric motor racing series. On April 30, 2026, we completed the sale of UPC Slovakia (as defined in note 4), through which we previously provided residential and business telecommunications services in Slovakia. Effective with the signing of the share purchase agreement on December 18, 2025, we began accounting for UPC Slovakia as held for sale. Accordingly, the held-for-sale assets and liabilities of UPC Slovakia are included in other current assets and other accrued and current liabilities, respectively, on our December 31, 2025 condensed consolidated balance sheet. Consistent with the applicable guidance, we have not reflected similar reclassifications in our condensed consolidated statements of operations or cash flows. For additional information, see note 4. Our unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) and with the instructions to Form 10-Q and Article 10 of Regulation S-X for interim financial information. Accordingly, these financial statements do not include all of the information required by GAAP or Securities and Exchange Commission rules and regulations for complete financial statements. In the opinion of management, these financial statements reflect all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the results of operations for the interim periods presented. The results of operations for any interim period are not necessarily indicative of results for the full year. These unaudited condensed consolidated financial statements should be read in conjunction with our 2025 consolidated financial statements and notes thereto included in our 2025 Annual Report on Form 10-K, as amended (our 2025 10-K). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Estimates and assumptions are used in accounting for, among other things, the valuation of acquisition-related assets and liabilities, allowances for uncollectible accounts, certain components of revenue, programming and copyright costs, deferred income taxes and related valuation allowances, loss contingencies, fair value measurements, impairment assessments, capitalization of internal costs associated with construction and installation activities, lease terms, useful lives of long-lived assets, share-based compensation and actuarial liabilities associated with certain benefit plans. Actual results could differ from those estimates. Unless otherwise indicated, ownership percentages and convenience translations into United States (U.S.) dollars are calculated as of June 30, 2026. Certain prior-period amounts have been reclassified to conform to the current period presentation, including the separate segment presentation of Telenet and Wyre, as described in note 15.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2026	Jun. 30, 2025
Details of end of period cash and cash equivalents and restricted cash:
Cash and cash equivalents	$ 2,418.6	$ 1,816.5
Restricted cash included in other current assets and other assets, net	5.7	6.0
Total cash and cash equivalents and restricted cash	$ 2,424.3	$ 1,822.5

- Definition

Amount of cash and cash equivalent restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposit with financial institution, and account with general characteristic of demand deposit. Cash equivalent includes, but is not limited to, short-term, highly liquid investment that is both readily convertible to known amount of cash and so near maturity that it presents insignificant risk of change in value because of change in interest rate.

+ References + Details

Leases (Lease Balances) (Details) - USD ($) $ in Millions	6 Months Ended
Leases (Lease Balances) (Details) - USD ($) $ in Millions	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
ROU assets:
Operating leases	$ 768.8		$ 773.6
Finance leases	35.1		37.1
Total ROU assets	803.9		810.7
Lease liabilities:
Operating leases	812.8		828.5
Finance leases	28.6		33.1
Total lease liabilities	$ 841.4		$ 861.6
Weighted average remaining lease term for operating leases (in years)	10 years 6 months
Weighted average discount rate, for operating leases	5.40%
Addition to ROU assets associated with operating leases	$ 58.4	$ 15.2
Weighted average remaining lease term for finance leases (in years)	8 years 9 months 18 days
Weighted average discount rate, for finance leases	7.90%

Loss per Share (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
Loss per Share (Details) - USD ($) $ in Millions	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025
Earnings Per Share [Abstract]
Net earnings (loss)	$ (357.8)	$ 358.2	$ (2,773.8)	$ (1,323.3)	$ 0.4	$ (4,097.1)
Net earnings attributable to noncontrolling interests	(7.3)		(19.1)		(27.7)	(33.1)
Net loss attributable to Liberty Global shareholders	$ (365.1)		$ (2,792.9)		$ (27.3)	$ (4,130.2)
Weighted average common shares outstanding (basic EPS computation) (in shares)	339,986,346		345,025,708		337,909,892	346,707,354
Excluded potentially dilutive employee share-based incentive awards (in shares)	144,182,935		155,485,651		144,182,935	155,485,651

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Segment Reporting (Intersegment Expenses) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Segment Reporting [Line Items]
Programming and other direct costs of services:	$ 375.4	$ 465.3	$ 802.0	$ 868.7
Operating expenses:	1,169.0	1,239.5	2,419.8	2,350.0
VMO2 JV
Segment Reporting [Line Items]
Programming and other direct costs of services:	901.6	1,021.3	1,842.6	2,012.8
Operating expenses:	1,138.4	1,179.9	2,328.0	2,241.3
VodafoneZiggo JV
Segment Reporting [Line Items]
Programming and other direct costs of services:	240.9	226.4	485.1	445.7
Operating expenses:	422.7	400.2	845.0	769.8
Telenet
Segment Reporting [Line Items]
Programming and other direct costs of services:	309.5	349.8	629.6	702.5
Operating expenses:	246.6	250.2	502.0	484.9
Wyre
Segment Reporting [Line Items]
Programming and other direct costs of services:	1.7	1.7	3.4	3.3
Operating expenses:	54.5	40.4	97.4	73.8
VM Ireland
Segment Reporting [Line Items]
Programming and other direct costs of services:	31.2	32.5	68.4	66.6
Operating expenses:	$ 50.8	$ 48.9	$ 102.2	$ 93.4

- Definition

The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Derivative Instruments (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Derivative [Line Items]
Derivative assets	$ 273.2	$ 248.8
Counterparty credit risk
Derivative [Line Items]
Derivative assets	142.6
Interest rate caps
Derivative [Line Items]
Notional amount	1,000.0
Interest rate collars
Derivative [Line Items]
Notional amount	1,300.0
Foreign currency forward and option contracts
Derivative [Line Items]
Derivative assets	2.8	$ 0.1
Notional amount	$ 221.0

- Definition

Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.

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+ Details

Derivative Instruments

6 Months Ended

Jun. 30, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

In general, we enter into derivative instruments to protect against (i) increases in the interest rates on our variable-rate debt, (ii) foreign currency movements, particularly with respect to borrowings that are denominated in a currency other than the functional currency of the borrowing entity, and (iii) decreases in the market prices of certain publicly-traded securities that we own. In this regard, through our subsidiaries, we have entered into various derivative instruments to manage interest rate exposure and foreign currency exposure primarily with respect to the U.S. dollar ($), the euro (€) and the British pound sterling (£). Generally, we only apply hedge accounting to our derivative instruments in limited circumstances. Accordingly, changes in the fair values of most of our derivative instruments are recorded in realized and unrealized gains or losses on derivative instruments, net, in our condensed consolidated statements of operations.

The following table provides details of the fair values of our derivative instrument assets and liabilities:


	June 30, 2026						December 31, 2025
	Current		Long-term		Total		Current		Long-term		Total
	in millions

Assets (a):
Cross-currency and interest rate derivative contracts (b)	$	135.3	$	121.7	$	257.0	$	127.1	$	113.8	$	240.9

Foreign currency forward and option contracts	2.1		0.7		2.8		0.1		—		0.1
Other	13.0		0.4		13.4		7.8		—		7.8
Total	$	150.4	$	122.8	$	273.2	$	135.0	$	113.8	$	248.8

Liabilities (a):
Cross-currency and interest rate derivative contracts (b)	$	112.5	$	56.1	$	168.6	$	126.2	$	122.0	$	248.2

Foreign currency forward and option contracts	0.4		1.3		1.7		1.9		0.9		2.8
Other	11.8		—		11.8		8.2		0.5		8.7
Total	$	124.7	$	57.4	$	182.1	$	136.3	$	123.4	$	259.7

_______________

(a)Our current and long-term derivative assets and current and long-term derivative liabilities are included in other current assets, other assets, net, other accrued and current liabilities and other long-term liabilities, respectively, on our condensed consolidated balance sheets.

(b)We consider credit risk relating to our and our counterparties’ nonperformance in the fair value assessment of our derivative instruments. In all cases, the adjustments take into account offsetting liability or asset positions within each of our subsidiary borrowing groups (as defined and described in note 9). The changes in the credit risk valuation adjustments associated with our cross-currency and interest rate derivative contracts resulted in net gains of $2.6 million and $5.2 million during the three months ended June 30, 2026 and 2025, respectively, and $3.0 million and $9.4 million during the six months ended June 30, 2026 and 2025, respectively. These amounts are included in realized and unrealized gains (losses) on derivative instruments, net, in our condensed consolidated statements of operations. For further information regarding our fair value measurements, see note 7.

The details of our realized and unrealized gains (losses) on derivative instruments, net, are as follows:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

Cross-currency and interest rate derivative contracts	$	16.6	$	(323.2)	$	146.8	$	(433.9)
Foreign currency forward and option contracts	1.6		(9.0)		3.6		(13.7)
Equity-related derivative instruments	—		(73.9)		—		(123.1)
Other	—		0.1		—		—
Total	$	18.2	$	(406.0)	$	150.4	$	(570.7)

The net cash received or paid related to our derivative instruments is classified as an operating, investing or financing activity in our condensed consolidated statements of cash flows based on the objective of the derivative instrument and the classification of the applicable underlying cash flows. The following table sets forth the classification of the net cash inflows of our derivative instruments:


	Six months ended June 30,
	2026		2025
	in millions

Operating activities	$	41.1	$	72.7
Investing activities	—		(0.1)
Financing activities	(0.2)		82.7
Total	$	40.9	$	155.3

Counterparty Credit Risk

We are exposed to the risk that the counterparties to the derivative instruments of our subsidiary borrowing groups will default on their obligations to us. We manage these credit risks through the evaluation and monitoring of the creditworthiness of, and concentration of risk with, the respective counterparties. In this regard, credit risk associated with our derivative instruments is spread across a relatively broad counterparty base of banks and financial institutions, however notwithstanding, given the size of our derivative portfolio, the default of certain counterparties could have a significant impact on our condensed consolidated statements of operations. Collateral is generally not posted by either party under our derivative instruments. At June 30, 2026, our exposure to counterparty credit risk included derivative assets with an aggregate fair value of $142.6 million.

Details of our Derivative Instruments

Cross-currency Swap Contracts

We generally match the denomination of our subsidiaries’ borrowings with the functional currency of the supporting operations or, when it is more cost effective, we provide for an economic hedge against foreign currency exchange rate movements by using derivative instruments to synthetically convert unmatched debt into the applicable underlying currency. At June 30, 2026, substantially all of our debt was either directly or synthetically matched to the applicable functional currencies of the underlying operations. The following table sets forth the total notional amounts and the related weighted average remaining contractual lives of our cross-currency swap contracts at June 30, 2026:


	Notional amount due from counterparty		Notional amount due to counterparty		Weighted average remaining life
	in millions				in years












Telenet	$	3,266.6	€	2,899.5	1.8

Interest Rate Swap Contracts

The following table sets forth the total U.S. dollar equivalents of the notional amounts and the related weighted average remaining contractual lives of our interest rate swap contracts at June 30, 2026:


			Pays fixed rate							Receives fixed rate
			Notional amount				Weighted average remaining life			Notional amount			Weighted average remaining life
			in millions				in years			in millions			in years



Telenet	$	4,120.5	(a)			2.8		$	—			—

Other (b)			$	248.9	(a)		19.5			$	—		—

_______________

(a)Includes certain derivative instruments that are “forward-starting,” such that the initial exchange occurs at a date subsequent to June 30, 2026. These instruments are typically entered into in order to extend existing hedges without the need to amend existing contracts.

(b)Represents contracts associated with Egg Power AssetCo Limited, a subsidiary of Liberty Global (Egg Power).

Basis Swaps

Our basis swaps involve the exchange of attributes used to calculate our floating interest rates, including (i) the benchmark rate, (ii) the underlying currency and/or (iii) the borrowing period. We typically enter into these swaps to optimize our interest rate profile based on our current evaluations of yield curves, our risk management policies and other factors. The following table sets forth the total U.S. dollar equivalents of the notional amounts and related weighted average remaining contractual lives of our basis swap contracts at June 30, 2026:


	Notional amount due from counterparty		Weighted average remaining life
	in millions		in years



Telenet	$	3,562.0	—

VM Ireland	$	1,027.3	—

Interest Rate Caps, Floors and Collars

From time to time, we enter into interest rate cap, floor and collar agreements. Purchased interest rate caps and collars lock in a maximum interest rate if variable rates rise, but also allow our company to benefit, to a limited extent in the case of collars, from declines in market rates. Purchased interest rate floors protect us from interest rates falling below a certain level, generally to match a floating rate floor on a debt instrument. At June 30, 2026, we had no interest rate collar agreements, and the total U.S. dollar equivalents of the notional amounts of our purchased interest rate caps and floors were $1.0 billion and $1.3 billion, respectively.

Impact of Derivative Instruments on Borrowing Costs

The impact of the derivative instruments that mitigate our foreign currency and interest rate risk, as described above, on our borrowing costs is as follows:


	Increase (decrease) to borrowing costs at June 30, 2026 (a)


VM Ireland	(1.89)	%
Telenet	(1.61)	%
Other (b)	0.28	%
Total decrease to borrowing costs	(1.62)	%

_______________

(a)Represents the effect of derivative instruments in effect at June 30, 2026 and does not include forward-starting derivative instruments.

(b)Represents the impact of derivative instruments on borrowing costs at Egg Power.

Foreign Currency Forwards and Options

Certain of our subsidiaries enter into foreign currency forward and option contracts with respect to non-functional currency exposure. As of June 30, 2026, the total U.S. dollar equivalent of the notional amounts of our foreign currency forward and option contracts was $221.0 million.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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+ Details

Accounting Changes and Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2026
Accounting Changes and Error Corrections [Abstract]
Basis of Accounting	Our unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) and with the instructions to Form 10-Q and Article 10 of Regulation S-X for interim financial information. Accordingly, these financial statements do not include all of the information required by GAAP or Securities and Exchange Commission rules and regulations for complete financial statements. In the opinion of management, these financial statements reflect all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the results of operations for the interim periods presented. The results of operations for any interim period are not necessarily indicative of results for the full year. These unaudited condensed consolidated financial statements should be read in conjunction with our 2025 consolidated financial statements and notes thereto included in our 2025 Annual Report on Form 10-K, as amended (our 2025 10-K).
Use of Estimates	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Estimates and assumptions are used in accounting for, among other things, the valuation of acquisition-related assets and liabilities, allowances for uncollectible accounts, certain components of revenue, programming and copyright costs, deferred income taxes and related valuation allowances, loss contingencies, fair value measurements, impairment assessments, capitalization of internal costs associated with construction and installation activities, lease terms, useful lives of long-lived assets, share-based compensation and actuarial liabilities associated with certain benefit plans. Actual results could differ from those estimates.
Reclassification	Certain prior-period amounts have been reclassified to conform to the current period presentation, including the separate segment presentation of Telenet and Wyre, as described in note 15.
Accounting Changes and Recent Accounting Pronouncements	Accounting Changes ASU 2025-05 In July 2025, the Financial Accounting Standards Board (the FASB) issued Accounting Standards Update (ASU) No. 2025-05, Measurement of Credit Losses for Accounts Receivable and Contract Assets (ASU 2025-05), which provides a practical expedient for all entities to assume current conditions as of the balance sheet date will remain through the reasonable and supportable forecast period for eligible assets. Entities will continue to be required to adjust the historical data used in the estimation of credit losses to reflect current conditions. If elected, the practical expedient should be applied consistently to all eligible accounts receivable and contract assets. Additionally, entities that have elected the practical expedient must disclose their decision to do so. We adopted ASU 2025-05 on January 1, 2026 and are applying the practical expedient, noting no significant impact to our credit loss provisions. ASU 2023-09 In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (ASU 2023-09), which is intended to enhance the transparency of income tax matters within financial statements, providing stakeholders with a clearer understanding of tax positions and their associated risks and uncertainties. ASU 2023-09 requires public business entities to disclose, on an annual basis, specific categories in the rate reconciliation and provide additional information for reconciling items that meet a specific quantitative threshold. We adopted ASU 2023-09 on January 1, 2025 on a retrospective basis. For additional information concerning our income taxes, see note 11. ASU 2023-05 In August 2023, the FASB issued ASU No. 2023-05, Business Combinations — Joint Venture Formations: Recognition and Initial Measurement (ASU 2023-05), which outlines updates to the formation of entities that meet the definition of a joint venture as defined by the FASB. ASU 2023-05 requires a joint venture to measure its assets and liabilities at fair value upon formation. We adopted ASU 2023-05 on January 1, 2025. Recent Accounting Pronouncements ASU 2025-06 In September 2025, the FASB issued ASU No. 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (ASU 2025-06), which revises the guidance for capitalizing costs related to internal-use software. The amendments replace the prior stage-based model with a principles-based approach, removing all references to project stages and instead focusing on the two remaining criteria for capitalization, being (i) management has authorized and committed to the funding for the software project and (ii) it is probable a project will be completed and used as intended. Until both of these criteria are met, all software development costs should be expensed as incurred. ASU 2025-06 is effective for annual and interim periods beginning after December 15, 2027, with early adoption permitted. Entities may apply the amendments prospectively, retrospectively or using a modified retrospective approach. We are currently evaluating the impact of ASU 2025-06 on our consolidated financial statements, but we do not expect the impact to be significant. ASU 2025-03 In May 2025, the FASB issued ASU No. 2025-03, Business Combinations and Consolidation: Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity (ASU 2025-03), which clarifies the requirements for identifying the accounting acquirer when a variable interest entity (VIE) that qualifies as a business is acquired primarily through an exchange of equity interests. This amendment does not change the existing guidance for acquisitions of VIEs that are not considered businesses. ASU 2025-03 is effective for annual and interim periods beginning after December 15, 2026, with early adoption permitted. ASU 2025-03 should be applied prospectively to all business combinations with acquisition dates occurring on or after the date of initial application. We are currently evaluating the impact of ASU 2025-03 on our consolidated financial statements, but we do not expect the impact to be significant. ASU 2024-03 In November 2024, the FASB issued ASU No. 2024-03, Disaggregation of Income Statement Expenses (DISE) (ASU 2024-03), which requires disclosure of certain categories of expenses such as the purchase of inventory, employee compensation, depreciation and intangible asset amortization that are components of existing expense captions presented on the face of the income statement. ASU 2024-03 is effective for annual periods beginning after December 15, 2026 and interim periods beginning after December 15, 2027, with early adoption permitted. ASU 2024-03 should be applied prospectively, however, retrospective application is permitted. We are currently evaluating the impact of ASU 2024-03 on our disclosures.
Revenue Recognition and Related Costs	Revenue Recognition and Related Costs Contract Balances The timing of our recognition of revenue may differ from the timing of invoicing our customers. We record a trade receivable when we have transferred goods or services to a customer but have not yet received payment. Our trade receivables are reported net of an allowance for doubtful accounts. Such allowance aggregated $32.7 million and $31.3 million at June 30, 2026 and December 31, 2025, respectively. If we transfer goods or services to a customer but do not have an unconditional right to payment, we record a contract asset. Contract assets typically arise from the uniform recognition of introductory promotional discounts over the contract period and accrued revenue for handset sales. Our contract assets were $11.7 million and $11.4 million as of June 30, 2026 and December 31, 2025, respectively. The current and long-term portions of our contract asset balances are included within other current assets and other assets, net, respectively, on our condensed consolidated balance sheets. We record deferred revenue when we receive payment prior to transferring goods or services to a customer. We primarily defer revenue for (i) installation and other upfront services and (ii) other services that are invoiced prior to when services are provided. Our deferred revenue balances were $262.9 million and $305.9 million as of June 30, 2026 and December 31, 2025, respectively. The decrease in deferred revenue for the six months ended June 30, 2026 is primarily due to the net effect of (a) the recognition of $258.8 million of revenue that was included in our deferred revenue balance at December 31, 2025 and (b) the impact of additions during the period. The long-term portions of our deferred revenue balances are included within other long-term liabilities on our condensed consolidated balance sheets. Unsatisfied Performance Obligations A significant portion of our revenue is derived from subscription service contracts with an initial duration of less than 12 months. As such, the amount of revenue related to unsatisfied performance obligations is not necessarily indicative of future revenue to be recognized from our existing customers. Revenue from customers who are subject to contracts is generally recognized over the term of such contracts, which is typically 12 months for our residential service contracts, one to three years for our mobile service contracts and one to five years for our B2B service contracts. The average remaining contractual term for B2B non-subscription services is approximately three years. At June 30, 2026 the aggregate transaction price allocated to remaining performance obligations related to our B2B and other fixed-fee service agreements with terms greater than one year was approximately $1.9 billion and is expected to be recognized over the respective remaining contractual terms.
Leases	Leases General We enter into operating and finance leases for network equipment, real estate, mobile site sharing and vehicles. We provide residual value guarantees on certain of our vehicle leases.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

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- Definition

Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.

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+ Details

Debt (Tables)

6 Months Ended

Jun. 30, 2026

Debt Disclosure [Abstract]

Schedule of Debt

The U.S. dollar equivalents of the components of our debt are as follows:


	June 30, 2026						Principal amount
	Weighted average interest rate (a)		Unused borrowing capacity (b)
			Borrowing currency		U.S. $ equivalent		June 30, 2026		December 31, 2025
			in millions

Telenet Credit Facility (c)	5.27	%	€	625.0	$	713.4	$	4,577.8	$	4,748.0
Telenet Senior Secured Notes	4.72	%	—		—		1,588.0		1,633.7

VM Ireland Credit Facility (d)	5.70	%	€	100.0	114.1		1,027.3		1,056.2
Vendor financing (e)	4.41	%	—		—		339.6		365.9
Other (f)	4.86	%	—		—		810.4		781.0
Total debt before deferred financing costs, discounts and premiums (g)	5.14	%			$	827.5	$	8,343.1	$	8,584.8

The following table provides a reconciliation of total debt before deferred financing costs, discounts and premiums to total debt and finance lease obligations:


	June 30, 2026		December 31, 2025
	in millions

Total debt before deferred financing costs, discounts and premiums	$	8,343.1	$	8,584.8
Deferred financing costs, discounts and premiums, net	(21.4)		(23.0)
Total carrying amount of debt	8,321.7		8,561.8
Finance lease obligations (note 10)	28.6		33.1
Total debt and finance lease obligations	8,350.3		8,594.9
Current portion of debt and finance lease obligations	(620.4)		(764.0)
Long-term debt and finance lease obligations	$	7,729.9	$	7,830.9

_______________

(a)Represents the weighted average interest rate in effect at June 30, 2026 for all borrowings outstanding pursuant to each debt instrument, including any applicable margin. The interest rates presented represent stated rates and do not include the impact of derivative instruments, deferred financing costs, original issue premiums or discounts and commitment fees, all of which affect our overall cost of borrowing. Including the effects of derivative instruments, original issue premiums or discounts and commitment fees, but excluding the impact of deferred financing costs and certain other obligations that we assumed in connection with certain acquisitions, the weighted average interest rate on our aggregate variable- and fixed-rate indebtedness was 3.81% at June 30, 2026. The weighted average interest rate calculation includes principal amounts outstanding associated with all of our secured and unsecured borrowings. For information regarding our derivative instruments, see note 6.

(b)Unused borrowing capacity represents the maximum availability under the applicable facility at June 30, 2026 without regard to covenant compliance calculations or other conditions precedent to borrowing. The following table provides our borrowing availability and amounts available to loan or distribute in accordance with the terms of the respective subsidiary facilities (i) at June 30, 2026 and (ii) upon completion of the relevant June 30, 2026 compliance reporting requirements. These amounts do not consider any actual or potential changes to our borrowing levels or any amounts loaned or distributed subsequent to June 30, 2026, or the full impact of additional amounts that may be available to borrow, loan or distribute under certain defined baskets within each respective facility.


	Availability
	June 30, 2026				Upon completion of the relevant June 30, 2026 compliance reporting requirements
	Borrowing currency		U.S. $ equivalent		Borrowing currency		U.S. $ equivalent
	in millions

Available to borrow:
Telenet Credit Facility	€	625.0	$	713.4	€	625.0	$	713.4
VM Ireland Credit Facility	€	100.0	$	114.1	€	100.0	$	114.1

Available to loan or distribute:
Telenet Credit Facility	€	625.0	$	713.4	€	625.0	$	713.4
VM Ireland Credit Facility	€	100.0	$	114.1	€	100.0	$	114.1

(c)At June 30, 2026, unused borrowing capacity under the Telenet Credit Facility amounted to €625.0 million ($713.4 million) comprising (i) €580.0 million ($662.1 million) under Telenet Revolving Facility I, (ii) €25.0 million ($28.5 million) under the Telenet Overdraft Facility and (iii) €20.0 million ($22.8 million) under the Telenet Revolving Facility, each of which were undrawn at June 30, 2026. In January 2026, €90.0 million ($102.7 million) of borrowings under Telenet Revolving Facility I were repaid, restoring total available capacity under Telenet Revolving Facility I to €580.0 million. In February 2026, €550.0 million ($627.8 million) of Telenet Revolving Facility I was amended to extend the maturity date from May 2029 to May 2032.

(d)Unused borrowing capacity under the VM Ireland Credit Facility relates to €100.0 million ($114.1 million) under the VM Ireland Revolving Facility, which was undrawn at June 30, 2026.

(e)Represents amounts owed to various creditors pursuant to interest-bearing vendor financing arrangements that are used to finance certain of our property and equipment additions and operating expenses. These arrangements extend our repayment terms beyond a vendor’s original due dates (e.g., extension beyond a vendor’s customary payment terms, which are generally 90 days or less) and as such are classified outside of accounts payable as debt on our condensed consolidated balance sheets. These obligations are generally due within one year and include VAT that was also financed under these arrangements. For purposes of our condensed consolidated statements of cash flows, operating-related expenses financed by an intermediary are treated as constructive operating cash outflows and constructive financing cash inflows when the intermediary settles the liability with the vendor as there is no actual cash outflow until we pay the financing intermediary. During the six months ended June 30, 2026 and 2025, the constructive cash outflow included in cash flows from operating activities and the corresponding constructive cash inflow included in cash flows from financing activities related to these operating expenses were $190.0 million and $151.6 million, respectively. Repayments of vendor financing obligations at the time we pay the financing intermediary are included in repayments and repurchases of debt and finance lease obligations in our condensed consolidated statements of cash flows.

(f)At June 30, 2026 and December 31, 2025, amounts include (i) $204.4 million and $228.4 million, respectively, of debt collateralized by certain trade receivables of Telenet and (ii) $400.7 million and $423.4 million, respectively, of liabilities related to Telenet’s acquisition of mobile spectrum licenses. Telenet will make annual payments for the license fees over the terms of the respective licenses. In addition, amounts include (a) $78.4 million and $19.8 million, respectively, of debt drawn on a capital expenditure term loan facility at Egg Power (the Egg Power Capex Facility) and (b) $57.1 million and $58.7 million, respectively, of debt related to an advance against the assignment of certain future sponsorship receivables of Formula E.

(g)As of June 30, 2026 and December 31, 2025, our debt had an estimated fair value of $8.3 billion and $8.6 billion, respectively. The estimated fair values of our debt instruments are generally determined using the average of applicable bid and ask prices (mostly Level 1 of the fair value hierarchy). For additional information regarding fair value hierarchies, see note 7.

Schedule of Maturities of Debt and Capital Lease Obligations

Maturities of our debt as of June 30, 2026 are presented below for the named entity and its subsidiaries, unless otherwise noted, and represent U.S. dollar equivalents based on June 30, 2026 exchange rates.


	Telenet (a)		VM Ireland		Other (b)		Total
	in millions

Year ending December 31:
2026 (remainder of year)	$	414.7	$	—	$	43.4	$	458.1
2027	180.7		—		22.8		203.5
2028	4,386.9		—		—		4,386.9
2029	1,292.2		1,027.3		13.2		2,332.7
2030	26.0		—		—		26.0
2031	26.5		—		—		26.5
Thereafter	831.0		—		78.4		909.4
Total debt maturities	7,158.0		1,027.3		157.8		8,343.1
Deferred financing costs, discounts and premiums, net	(11.6)		(3.1)		(6.7)		(21.4)
Total debt	$	7,146.4	$	1,024.2	$	151.1	$	8,321.7
Current portion	$	571.0	$	—	$	43.4	$	614.4
Long-term portion	$	6,575.4	$	1,024.2	$	107.7	$	7,707.3

_______________

(a)Amounts include vendor financing obligations of $339.6 million, all of which are classified as current on our condensed consolidated balance sheet, as set forth below (in millions):





Year ending December 31:
2026 (remainder of year)	$	183.7
2027	155.9





Total vendor financing maturities	$	339.6

(b)Includes (i) $78.4 million of debt drawn on the Egg Power Capex Facility and (ii) $57.1 million of debt related to an advance against the assignment of certain future sponsorship receivables of Formula E.

Schedule of Vendor Financing Obligations

A reconciliation of the beginning and ending balances of our vendor financing obligations for the indicated periods is set forth below:


	2026		2025
	in millions

Balance at January 1	$	365.9	$	355.9
Operating-related vendor financing additions	190.0		151.6
Capital-related vendor financing additions	42.7		36.9
Principal payments on operating-related vendor financing	(191.5)		(176.6)
Principal payments on capital-related vendor financing	(57.5)		(30.4)
Foreign currency and other	(10.0)		47.8
Balance at June 30	$	339.6	$	385.2

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Investments (Result of Operations) (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025
Schedule of Equity Method Investments [Line Items]
Revenue	$ 1,172.0		$ 1,269.1		$ 2,446.6	$ 2,440.3
Loss before income taxes	(335.0)		(2,772.9)		198.6	(4,166.2)
Net loss	(357.8)	$ 358.2	(2,773.8)	$ (1,323.3)	0.4	(4,097.1)
VMO2 JV
Schedule of Equity Method Investments [Line Items]
Revenue	3,220.3		3,373.5		6,442.7	6,499.8
Loss before income taxes	(530.7)		(403.9)		(569.7)	(616.1)
Net loss	(410.8)		(308.9)		(438.4)	(474.7)
Nonconsolidated investment or group of investees
Schedule of Equity Method Investments [Line Items]
Revenue	1,133.7		1,123.3		2,282.2	2,175.3
Loss before income taxes	(165.5)		(157.6)		(162.3)	(246.6)
Net loss	$ (122.6)		$ (119.9)		$ (139.3)	$ (190.4)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Schedule of Performance Measures of our Reportable Segments

The amounts presented in the tables below represent 100% of each of our consolidated and nonconsolidated reportable segment’s revenue, expenses and Adjusted EBITDA, despite only holding a 50% noncontrolling interest in both the VMO2 JV and the VodafoneZiggo JV. We account for our 50% interests in both the VMO2 JV and the VodafoneZiggo JV under the equity method; accordingly, our share of their operating results is included in share of results of affiliates, net in our condensed consolidated statements of operations. Noncontrolling interests, primarily associated with Wyre and Formula E, are reflected in net earnings or loss attributable to noncontrolling interests in our condensed consolidated statements of operations.


	Revenue
	Three months ended June 30, 2026						Six months ended June 30, 2026
	Third-party and affiliate		Intersegment		Total		Third-party and affiliate		Intersegment		Total
	in millions

Telenet	$	716.9	$	36.2	$	753.1	$	1,459.5	$	53.0	$	1,512.5
Wyre	34.5		163.3		197.8		68.3		328.4		396.7
VM Ireland	122.4		—		122.4		249.4		—		249.4
VMO2 JV (nonconsolidated)	3,220.3		—		3,220.3		6,442.7		—		6,442.7
VodafoneZiggo JV (nonconsolidated)	1,133.7		—		1,133.7		2,282.2		—		2,282.2
Total reportable segment revenue	$	5,227.8	$	199.5	5,427.3		$	10,502.1	$	381.4	10,883.5
Plus: all other category (a)					343.5						760.3
Less: nonconsolidated JV revenue					(4,354.0)						(8,724.9)
Less: elimination of intercompany consolidated revenue (b)					(244.8)						(472.3)
Total consolidated revenue					$	1,172.0					$	2,446.6


	Revenue
	Three months ended June 30, 2025						Six months ended June 30, 2025
	Third-party and affiliate		Intersegment		Total		Third-party and affiliate		Intersegment		Total
	in millions

Telenet	$	770.2	$	14.9	$	785.1	$	1,501.7	$	26.6	$	1,528.3
Wyre	30.7		164.3		195.0		58.9		316.9		375.8
VM Ireland	122.8		—		122.8		238.6		—		238.6
VMO2 JV (nonconsolidated)	3,373.5		—		3,373.5		6,499.8		—		6,499.8
VodafoneZiggo JV (nonconsolidated)	1,123.3		—		1,123.3		2,175.3		—		2,175.3
Total reportable segment revenue	$	5,420.5	$	179.2	5,599.7		$	10,474.3	$	343.5	10,817.8
Plus: all other category (a)					387.5						722.2
Less: nonconsolidated JV revenue					(4,496.8)						(8,675.1)
Less: elimination of intercompany consolidated revenue (b)					(221.3)						(424.6)
Total consolidated revenue					$	1,269.1					$	2,440.3

______________

(a)Amounts include revenue from:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

Third parties and affiliates	$	108.0	$	201.7	$	331.9	$	362.8
Services agreements with our nonconsolidated JV reportable segments (as further described in note 5)	188.6		143.7		335.8		278.3
Consolidated reportable segments	46.9		42.1		92.6		81.1
Total	$	343.5	$	387.5	$	760.3	$	722.2

(b)Primarily reflects the elimination of (i) transactions between our Telenet and Wyre reportable segments and (ii) the revenue recognized related to the Tech Framework.

The expense categories and amounts presented below align with the segment-level information that is regularly provided to the CODM. These amounts include intersegment expenses and are exclusive of share-based compensation expense.


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

Programming and other direct costs of services:
Consolidated reportable segments:
Telenet	$	309.5	$	349.8	$	629.6	$	702.5
Wyre	$	1.7	$	1.7	$	3.4	$	3.3
VM Ireland	$	31.2	$	32.5	$	68.4	$	66.6

Nonconsolidated reportable segments:
VMO2 JV	$	901.6	$	1,021.3	$	1,842.6	$	2,012.8
VodafoneZiggo JV	$	240.9	$	226.4	$	485.1	$	445.7

Operating expenses:
Consolidated reportable segments:
Telenet	$	246.6	$	250.2	$	502.0	$	484.9
Wyre	$	54.5	$	40.4	$	97.4	$	73.8
VM Ireland	$	50.8	$	48.9	$	102.2	$	93.4

Nonconsolidated reportable segments:
VMO2 JV	$	1,138.4	$	1,179.9	$	2,328.0	$	2,241.3
VodafoneZiggo JV	$	422.7	$	400.2	$	845.0	$	769.8


	Adjusted EBITDA
	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

Telenet	$	197.0	$	185.1	$	380.9	$	340.9
Wyre	141.6		152.9		295.9		298.7
VM Ireland	40.4		41.4		78.8		78.6
VMO2 JV (nonconsolidated)	1,180.3		1,172.3		2,272.1		2,245.7
VodafoneZiggo JV (nonconsolidated)	470.1		496.7		952.1		959.8
Total reportable segment Adjusted EBITDA	$	2,029.4	$	2,048.4	$	3,979.8	$	3,923.7

The following table provides a reconciliation of total reportable segment Adjusted EBITDA to earnings (loss) before income taxes:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

Total reportable segment Adjusted EBITDA	$	2,029.4	$	2,048.4	$	3,979.8	$	3,923.7
Plus: all other category	(43.7)		(34.1)		(44.0)		(38.3)
Less: nonconsolidated JV Adjusted EBITDA	(1,650.4)		(1,669.0)		(3,224.2)		(3,205.5)
Less: intercompany consolidated eliminations (a)	(10.4)		(10.0)		(20.2)		(20.0)
Share-based compensation expense	(43.9)		(49.4)		(81.0)		(82.8)
Depreciation and amortization	(262.5)		(250.8)		(527.3)		(483.0)
Impairment, restructuring and other operating items, net	(15.5)		(5.5)		(56.3)		(3.8)
Operating income	3.0		29.6		26.8		90.3
Interest expense	(115.9)		(129.5)		(229.6)		(257.0)
Realized and unrealized gains (losses) on derivative instruments, net	18.2		(406.0)		150.4		(570.7)
Foreign currency transaction gains (losses), net	(122.6)		(2,089.9)		307.6		(3,170.9)
Realized and unrealized gains due to changes in fair values of certain investments, net	155.4		55.3		213.2		111.1

Share of results of affiliates, net	(289.9)		(264.6)		(311.6)		(412.6)


Other income, net	16.8		32.2		41.8		43.6
Earnings (loss) before income taxes	$	(335.0)	$	(2,772.9)	$	198.6	$	(4,166.2)

_____________

(a)Amounts relate to the Adjusted EBITDA impact related to (i) the Tech Framework and (ii) transactions between our Telenet and Wyre reportable segments in association with the Transition Services and Support (TSS) agreement.

Schedule of 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.


	Six months ended June 30,
	2026		2025
	in millions

Telenet	$	226.5	$	268.5
Wyre	409.5		247.5
VM Ireland	84.4		98.3
VMO2 JV (nonconsolidated)	1,183.3		1,267.1
VodafoneZiggo JV (nonconsolidated)	506.2		435.1
Total reportable segment property and equipment additions	2,409.9		2,316.5
Plus: all other category (a)	92.4		16.5
Less: nonconsolidated JV property and equipment additions	(1,689.5)		(1,702.2)
Less: elimination of intercompany consolidated property and equipment additions (b)	(20.2)		(20.0)
Total consolidated property and equipment additions	792.6		610.8
Assets acquired under capital-related vendor financing arrangements	(36.1)		(32.1)
Assets acquired under finance leases	(1.3)		—
Changes in current liabilities related to capital expenditures	(9.7)		(16.1)
Total capital expenditures, net	$	745.5	$	562.6

_______________

(a)Includes (i) property and equipment additions representing centrally-owned assets that benefit other operating segments and (ii) the net impact of certain centrally-procured network equipment that is ultimately transferred to other operating segments.

(b)Represents eliminations primarily related to (i) the charges under the Tech Framework to each respective consolidated reportable segment related to the portion of the charges attributed to centrally-held internally developed technology that is embedded within our various CPE, as well as any applicable markup and (ii) a portion of the charges in relation to the TSS agreement between Telenet and Wyre reportable segments.

Schedule of Revenue by Major Category

Our revenue by major category is set forth below:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

Residential revenue:
Residential fixed revenue (a):
Subscription revenue (b):
Broadband internet	$	248.5	$	238.3	$	496.9	$	456.7
Video	131.8		153.7		279.1		297.8
Fixed-line telephony	35.2		47.2		80.1		91.5
Total subscription revenue	415.5		439.2		856.1		846.0
Non-subscription revenue	8.0		4.6		16.1		9.7
Total residential fixed revenue	423.5		443.8		872.2		855.7
Residential mobile revenue (c):
Subscription revenue (b)	130.6		125.0		259.1		240.7
Non-subscription revenue	34.6		37.6		77.6		73.8
Total residential mobile revenue	165.2		162.6		336.7		314.5
Total residential revenue	588.7		606.4		1,208.9		1,170.2
B2B revenue (d):
Subscription revenue	113.5		112.5		227.4		216.3
Non-subscription revenue	118.5		113.4		237.4		216.6
Total B2B revenue	232.0		225.9		464.8		432.9
Other revenue (e)	351.3		436.8		772.9		837.2
Total	$	1,172.0	$	1,269.1	$	2,446.6	$	2,440.3

_______________

(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) revenue earned from the U.K. JV Services, the Sunrise Services and the NL JV Services, (ii) revenue at Formula E, (iii) revenue earned from the sales of CPE to the VMO2 JV, the VodafoneZiggo JV and Sunrise and (iv) broadcasting revenue at Telenet and VM Ireland.

- Definition

Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Investments (Equity Method Investments) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Schedule of Equity Method Investments [Line Items]
Equity method investment	$ (289.9)	$ (264.6)	$ (311.6)	$ (412.6)
VMO2 JV
Schedule of Equity Method Investments [Line Items]
Equity method investment	(208.0)	(161.1)	(224.6)	(247.7)
VodafoneZiggo JV
Schedule of Equity Method Investments [Line Items]
Equity method investment	$ (45.7)	(48.1)	$ (38.9)	(70.7)
Percent of interest income earned on loan included in investment	100.00%		100.00%
nexfibre JV
Schedule of Equity Method Investments [Line Items]
Equity method investment	$ (22.3)	(29.6)	$ (27.4)	(42.2)
AtlasEdge JV
Schedule of Equity Method Investments [Line Items]
Equity method investment	(12.5)	(18.5)	(18.1)	(34.5)
Other, net
Schedule of Equity Method Investments [Line Items]
Equity method investment	$ (1.4)	$ (7.3)	$ (2.6)	$ (17.5)

- Definition

Amount of income (loss) for proportionate share of equity method investee's income (loss).

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
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-Paragraph 7
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

+ Details

Revenue Recognition and Related Costs (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Dec. 31, 2025	Jun. 30, 2025
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Trade receivables, allowance for doubtful accounts	$ 32.7	$ 31.3
Contract assets	11.7	11.4
Deferred revenue	262.9	$ 305.9
Revenue recognized	$ 258.8
Remaining performance obligation, greater than one year			$ 1,900.0
Residential Service \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period	12 months
Mobile Services \| Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period	1 year
Mobile Services \| Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period	3 years
B2B Services \| Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period	1 year
B2B Services \| Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period	5 years
B2B Services \| Weighted Average
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period	3 years

Basis of Presentation (Details)	Jun. 30, 2026
VodafoneZiggo JV (nonconsolidated)
Schedule of Equity Method Investments [Line Items]
Ownership percentage	50.00%
Co-venturer ownership percentage	50.00%
VMO2 JV
Schedule of Equity Method Investments [Line Items]
Co-venturer ownership percentage	50.00%
Telefonica
Schedule of Equity Method Investments [Line Items]
Co-venturer ownership percentage	50.00%
Vodafone Group Inc.
Schedule of Equity Method Investments [Line Items]
Co-venturer ownership percentage	50.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
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-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
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-SubTopic 10
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-Subparagraph (a)(1)
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-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

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-Name Accounting Standards Codification
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-Topic 323
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+ Details

Segment Reporting (Capital Expenditures of Reportable Segments) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Segment Reporting [Line Items]
Total consolidated property and equipment additions	$ 792.6	$ 610.8
Assets acquired under capital-related vendor financing arrangements	(36.1)	(32.1)
Assets acquired under finance leases	(1.3)	0.0
Changes in current liabilities related to capital expenditures	(9.7)	(16.1)
Total capital expenditures, net	745.5	562.6
VMO2 JV And VodafoneZiggo JV
Segment Reporting [Line Items]
Total consolidated property and equipment additions	1,689.5	1,702.2
Operating Segments \| Consolidated reportable segments
Segment Reporting [Line Items]
Total consolidated property and equipment additions	2,409.9	2,316.5
Operating Segments \| Telenet
Segment Reporting [Line Items]
Total consolidated property and equipment additions	226.5	268.5
Operating Segments \| Wyre
Segment Reporting [Line Items]
Total consolidated property and equipment additions	409.5	247.5
Operating Segments \| VM Ireland
Segment Reporting [Line Items]
Total consolidated property and equipment additions	84.4	98.3
Operating Segments \| VMO2 JV (nonconsolidated)
Segment Reporting [Line Items]
Total consolidated property and equipment additions	1,183.3	1,267.1
Operating Segments \| VodafoneZiggo JV (nonconsolidated)
Segment Reporting [Line Items]
Total consolidated property and equipment additions	506.2	435.1
Central and other
Segment Reporting [Line Items]
Total consolidated property and equipment additions	92.4	16.5
Intersegment
Segment Reporting [Line Items]
Total consolidated property and equipment additions	$ (20.2)	$ (20.0)

Accounting Changes and Recent Accounting Pronouncements	6 Months Ended
Accounting Changes and Recent Accounting Pronouncements	Jun. 30, 2026
Accounting Changes and Error Corrections [Abstract]
Accounting Changes and Recent Accounting Pronouncements	Accounting Changes and Recent Accounting Pronouncements Accounting Changes ASU 2025-05 In July 2025, the Financial Accounting Standards Board (the FASB) issued Accounting Standards Update (ASU) No. 2025-05, Measurement of Credit Losses for Accounts Receivable and Contract Assets (ASU 2025-05), which provides a practical expedient for all entities to assume current conditions as of the balance sheet date will remain through the reasonable and supportable forecast period for eligible assets. Entities will continue to be required to adjust the historical data used in the estimation of credit losses to reflect current conditions. If elected, the practical expedient should be applied consistently to all eligible accounts receivable and contract assets. Additionally, entities that have elected the practical expedient must disclose their decision to do so. We adopted ASU 2025-05 on January 1, 2026 and are applying the practical expedient, noting no significant impact to our credit loss provisions. ASU 2023-09 In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (ASU 2023-09), which is intended to enhance the transparency of income tax matters within financial statements, providing stakeholders with a clearer understanding of tax positions and their associated risks and uncertainties. ASU 2023-09 requires public business entities to disclose, on an annual basis, specific categories in the rate reconciliation and provide additional information for reconciling items that meet a specific quantitative threshold. We adopted ASU 2023-09 on January 1, 2025 on a retrospective basis. For additional information concerning our income taxes, see note 11. ASU 2023-05 In August 2023, the FASB issued ASU No. 2023-05, Business Combinations — Joint Venture Formations: Recognition and Initial Measurement (ASU 2023-05), which outlines updates to the formation of entities that meet the definition of a joint venture as defined by the FASB. ASU 2023-05 requires a joint venture to measure its assets and liabilities at fair value upon formation. We adopted ASU 2023-05 on January 1, 2025. Recent Accounting Pronouncements ASU 2025-06 In September 2025, the FASB issued ASU No. 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (ASU 2025-06), which revises the guidance for capitalizing costs related to internal-use software. The amendments replace the prior stage-based model with a principles-based approach, removing all references to project stages and instead focusing on the two remaining criteria for capitalization, being (i) management has authorized and committed to the funding for the software project and (ii) it is probable a project will be completed and used as intended. Until both of these criteria are met, all software development costs should be expensed as incurred. ASU 2025-06 is effective for annual and interim periods beginning after December 15, 2027, with early adoption permitted. Entities may apply the amendments prospectively, retrospectively or using a modified retrospective approach. We are currently evaluating the impact of ASU 2025-06 on our consolidated financial statements, but we do not expect the impact to be significant. ASU 2025-03 In May 2025, the FASB issued ASU No. 2025-03, Business Combinations and Consolidation: Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity (ASU 2025-03), which clarifies the requirements for identifying the accounting acquirer when a variable interest entity (VIE) that qualifies as a business is acquired primarily through an exchange of equity interests. This amendment does not change the existing guidance for acquisitions of VIEs that are not considered businesses. ASU 2025-03 is effective for annual and interim periods beginning after December 15, 2026, with early adoption permitted. ASU 2025-03 should be applied prospectively to all business combinations with acquisition dates occurring on or after the date of initial application. We are currently evaluating the impact of ASU 2025-03 on our consolidated financial statements, but we do not expect the impact to be significant. ASU 2024-03 In November 2024, the FASB issued ASU No. 2024-03, Disaggregation of Income Statement Expenses (DISE) (ASU 2024-03), which requires disclosure of certain categories of expenses such as the purchase of inventory, employee compensation, depreciation and intangible asset amortization that are components of existing expense captions presented on the face of the income statement. ASU 2024-03 is effective for annual periods beginning after December 15, 2026 and interim periods beginning after December 15, 2027, with early adoption permitted. ASU 2024-03 should be applied prospectively, however, retrospective application is permitted. We are currently evaluating the impact of ASU 2024-03 on our disclosures.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Section 65
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 38: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Share-based Compensation (Tables)

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation

A summary of our aggregate share-based compensation expense is set forth below:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

Liberty Global (a):
Non-performance based incentive awards	$	16.6	$	21.3	$	38.4	$	43.1
Performance-based incentive awards	18.5		15.4		28.8		20.9
Other (b)	4.5		8.8		7.5		14.9
Total Liberty Global	39.6		45.5		74.7		78.9
Other	4.3		3.9		6.3		3.9
Total	$	43.9	$	49.4	$	81.0	$	82.8
Included in:
Other operating expense	$	3.6	$	3.5	$	6.8	$	6.4
SG&A expense	40.3		45.9		74.2		76.4
Total	$	43.9	$	49.4	$	81.0	$	82.8

_______________

(a)Amounts include share-based compensation expense related to certain Telenet Replacement Awards.

(b)Represents annual incentive compensation and defined contribution plan liabilities that have been or are expected to be settled in Liberty Global common shares. In the case of annual incentive compensation, shares have been or will be issued to senior management and key employees pursuant to a shareholding incentive program. The shareholding incentive program allows these employees to elect to receive up to 100% of their annual incentive compensation in common shares of Liberty Global in lieu of cash.

Schedule of Stock Option Activity

The following table provides the aggregate number of options, share appreciation rights (SARs) and performance-based share appreciation rights (PSARs) with respect to awards issued by Liberty Global that were (i) outstanding and (ii) exercisable as of June 30, 2026:


	Class A			Class C
	Gross number of shares underlying option, SAR and PSAR awards (a)	Weighted average exercise or base price		Gross number of shares underlying option, SAR and PSAR awards (a)	Weighted average exercise or base price

Held by Liberty Global employees:
Outstanding	34,469,992	$	13.72	79,719,558	$	13.88
Exercisable	32,458,430	$	13.96	76,960,071	$	14.01

Held by former Liberty Global employees (b):
Outstanding	2,217,537	$	15.43	4,370,561	$	15.45
Exercisable	2,216,271	$	15.44	4,368,051	$	15.45

_______________

(a)Amounts represent the gross number of shares associated with option, SAR and PSAR awards issued to our current and former employees and our directors. Our company settles SARs and PSARs on a net basis when exercised by the award holder, whereby the number of shares issued represents the excess value of the award based on the market price of the respective Liberty Global shares at the time of exercise relative to the award’s exercise price. In addition, the number of shares issued is further reduced by the amount of the employee’s required income tax withholding.

(b)Amounts represent certain share-based awards that continue to be held by former employees of Liberty Global subsequent to certain spin-off or disposal transactions, or as otherwise permitted under applicable Liberty Global equity plan documents. Although future exercises of these awards by former employees will not result in the recognition of share-based compensation expense, such exercises will increase the number of our outstanding common shares.

Schedule of Other Share Based Compensation Activity

The following table provides the aggregate number of restricted share units (RSUs) and performance-based restricted share units (PSUs) that were outstanding as of June 30, 2026. The number of shares to be issued on the vesting date of these awards will be reduced by the amount of the employee’s required income tax withholding.


	Class A	Class B	Class C

Held by Liberty Global employees:
RSUs	5,385,105	519,268	5,696,016
PSUs	6,620,524	649,086	8,418,934
Held by former Liberty Global employees (a):
RSUs	6,610	—	7,221
PSUs	1,812	—	1,812

_______________

(a)Amounts represent certain share-based awards that continue to be held by former employees of Liberty Global subsequent to certain spin-off or disposal transactions, or as otherwise permitted under applicable Liberty Global equity plan documents. The future vesting of these RSUs and PSUs will increase the number of our outstanding common shares.

Investments (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Investments (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Mar. 31, 2026	Dec. 31, 2025
Schedule of Investments [Line Items]
Other current assets	$ 558.2		$ 558.2			$ 756.8
ITV
Schedule of Investments [Line Items]
Ownership interest retained after disposal					50.00%
VMO2 JV
Schedule of Investments [Line Items]
Revenue	131.9	$ 95.5	225.1	$ 184.0
VMO2 JV \| Related party
Schedule of Investments [Line Items]
Other current assets	65.8		65.8			79.3
VodafoneZiggo JV
Schedule of Investments [Line Items]
Revenue	56.7	$ 48.2	110.7	$ 94.3
VodafoneZiggo JV \| Related party
Schedule of Investments [Line Items]
Other current assets	$ 40.8		$ 40.8			$ 42.7

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-6

Reference 64: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 19
-Subparagraph (1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-19

Reference 65: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 19
-Subparagraph (3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-19

+ Details

Derivative Instruments (Realized and Unrealized Losses on Derivatives) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Derivative [Line Items]
Total	$ 18.2	$ (406.0)	$ 150.4	$ (570.7)
Cross-currency and interest rate derivative contracts
Derivative [Line Items]
Total	16.6	(323.2)	146.8	(433.9)
Foreign currency forward and option contracts
Derivative [Line Items]
Total	1.6	(9.0)	3.6	(13.7)
Equity-related derivative instruments
Derivative [Line Items]
Total	0.0	(73.9)	0.0	(123.1)
Other
Derivative [Line Items]
Total	$ 0.0	$ 0.1	$ 0.0	$ 0.0

Long-lived Assets (Tables)

6 Months Ended

Jun. 30, 2026

Property, Plant, and Equipment [Abstract]

Schedule of Property and Equipment

The details of our property and equipment and the related accumulated depreciation are set forth below:


	June 30, 2026		December 31, 2025
	in millions

Distribution systems	$	7,528.4	$	7,189.1
Support equipment, buildings and land	2,940.5		2,941.2
CPE	1,162.7		1,070.2
Total property and equipment, gross	11,631.6		11,200.5
Accumulated depreciation	(6,209.5)		(5,930.2)
Total property and equipment, net	$	5,422.1	$	5,270.3

Schedule of Changes in Carrying Amount of Goodwill

Changes in the carrying amount of our goodwill during the six months ended June 30, 2026 are set forth below:


	January 1, 2026		Acquisitions and related adjustments		Foreign currency translation adjustments and other		June 30, 2026
	in millions

Telenet	$	2,516.5	$	—	$	(69.1)	$	2,447.4
Wyre	457.0		—		(12.5)		444.5
VM Ireland	284.4		—		(7.8)		276.6
Other	244.9		2.7		(0.6)		247.0
Total	$	3,502.8	$	2.7	$	(90.0)	$	3,415.5

Schedule of Intangible Assets Subject to Amortization, Net

The details of our intangible assets subject to amortization are set forth below:


	June 30, 2026						December 31, 2025
	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
	in millions

Licenses (a)	$	1,539.5	$	(458.9)	$	1,080.6	$	1,582.8	$	(438.0)	$	1,144.8
Customer relationships	261.6		(187.7)		73.9		269.0		(186.0)		83.0
Other	271.7		(159.4)		112.3		278.9		(157.3)		121.6
Total	$	2,072.8	$	(806.0)	$	1,266.8	$	2,130.7	$	(781.3)	$	1,349.4

_______________

(a)Primarily includes amounts related to (i) certain mobile spectrum licenses and (ii) a licensing agreement with the Federation Internationale l’Automobile that provides Formula E with the exclusive rights to operate an electric motor racing series.

- Definition

Tabular disclosure of goodwill.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

+ Details

Debt (Vendor Financing Obligations Rollforward) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Vendor Financing Obligation [Roll Forward]
Balance at January 1	$ 8,584.8
Principal payments on operating-related vendor financing	(191.5)	$ (176.6)
Principal payments on capital-related vendor financing	(57.5)	(30.4)
Balance at June 30	8,343.1
Vendor financing
Vendor Financing Obligation [Roll Forward]
Balance at January 1	365.9	355.9
Operating-related vendor financing additions	190.0	151.6
Capital-related vendor financing additions	42.7	36.9
Principal payments on operating-related vendor financing	(191.5)	(176.6)
Principal payments on capital-related vendor financing	(57.5)	(30.4)
Foreign currency and other	(10.0)	47.8
Balance at June 30	$ 339.6	$ 385.2

Income Taxes (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Oct. 07, 2022	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Tax Contingency [Line Items]
Effective tax rate		(6.80%)	0.00%	99.80%	1.70%
Income tax expense (benefit)		$ 22.8	$ 0.9	$ 198.2	$ (69.1)
Effective income tax (benefit) expense		(50.2)	(415.9)	$ 29.8	(624.9)
Tax Jurisdiction of Domicile [Extensible Enumeration]				BERMUDA
Unrecognized tax benefits		143.2		$ 143.2
UTB that would impact effective tax rate		90.8		90.8
Income tax penalties and interest expense	$ 110.0
Income tax contingency \| Tax Year 2018
Income Tax Contingency [Line Items]
Damages sought	$ 284.0
U.K., Netherlands and Luxembourg
Income Tax Contingency [Line Items]
Non-deductible net losses from foreign investments		$ (75.7)		$ 79.7
Non-deductible net losses from foreign investments (as a percent)		22.50%		40.10%
United States
Income Tax Contingency [Line Items]
Effective income tax rate reconciliation, derecognition of litigation-related receivable, amount				$ 133.3
Effective income tax rate reconciliation, derecognition of litigation-related receivable, percent				67.10%
U.K., U.S. and Netherlands
Income Tax Contingency [Line Items]
Non-deductible net losses from foreign investments				$ 30.2
Non-deductible net losses from foreign investments (as a percent)				15.30%
U.K.
Income Tax Contingency [Line Items]
Non-deductible net losses from foreign investments			$ (69.5)		$ (112.8)
Non-deductible net losses from foreign investments (as a percent)			2.50%		2.70%
Foreign exchange (loss) gains				$ 97.1
Effective income tax rate reconciliation, foreign currency translation, percent				48.90%
Effective income tax rate reconciliation, foreign income tax rate differential, amount			$ 259.7		$ 392.3
Effective income tax rate reconciliation, foreign income tax rate differential, percent			9.40%		9.40%
U.K., Belgium and Netherlands
Income Tax Contingency [Line Items]
Valuation allowances			$ 594.9		$ 903.1
Valuation allowances, percent			21.50%		21.70%
U.K. and Netherlands
Income Tax Contingency [Line Items]
Valuation allowances					$ 86.0
Valuation allowances, percent					2.10%

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Investments (Investments) (Details) € in Millions, £ in Millions, $ in Millions		3 Months Ended			6 Months Ended
	Jun. 29, 2026 USD ($)	Jun. 30, 2026 USD ($)	Mar. 31, 2026 USD ($)	Mar. 31, 2026 GBP (£)	Jun. 30, 2026 USD ($)	Jun. 30, 2026 EUR (€)	Jun. 30, 2025 USD ($)	Jun. 30, 2026 EUR (€)	Dec. 31, 2025 USD ($)
Schedule of Investments [Line Items]
Equity		$ 5,645.7			$ 5,645.7				$ 6,054.6
Short-term investments at fair value		0.0			0.0				76.2
Total — fair value		1,054.6			1,054.6				1,707.7
Total investments		6,700.3			6,700.3				7,762.3
Short-term investments		0.0			0.0				76.2
Long-term investments		6,700.3			6,700.3				7,686.1
Structured notes
Schedule of Investments [Line Items]
Proceeds received from the sale and maturities of debt securities			$ 36.6
Received cash proceeds		46.3
VMO2 JV
Schedule of Investments [Line Items]
Equity		$ 3,481.1			$ 3,481.1				3,756.7
Ownership percentage		50.00%			50.00%			50.00%
VodafoneZiggo JV
Schedule of Investments [Line Items]
Equity		$ 1,623.8			$ 1,623.8				1,738.6
Ownership percentage		50.00%			50.00%			50.00%
VodafoneZiggo JV \| VodafoneZiggo JV Loan
Schedule of Investments [Line Items]
Excess of carrying amount over proportional share in investees net assets		$ 1,001.9			$ 1,001.9				1,029.2
Related party note receivable rate					5.55%	5.55%
Interest accrued					$ 29.6	€ 25.9
VodafoneZiggo JV \| VodafoneZiggo JV Receivable I
Schedule of Investments [Line Items]
Related party note receivable		799.0			799.0			€ 700.0	821.5
VodafoneZiggo JV \| VodafoneZiggo JV Receivable II
Schedule of Investments [Line Items]
Related party note receivable		237.3			237.3			€ 207.9	244.0
AE Group Sàrl (AtlasEdge JV)
Schedule of Investments [Line Items]
Equity		$ 360.2			$ 360.2				388.4
Ownership percentage		48.80%			48.80%			48.80%
Nexfibre Networks Limited (nexfibre JV)
Schedule of Investments [Line Items]
Equity		$ 70.8			$ 70.8				88.3
Ownership percentage		25.00%			25.00%			25.00%
Other
Schedule of Investments [Line Items]
Equity		$ 109.8			$ 109.8				82.6
Equity securities fair value		411.4			411.4				385.2
Televisa Univision, Inc. (Televisa Univision)
Schedule of Investments [Line Items]
Long-term investments at fair value		$ 299.4			$ 299.4				299.5
Ownership percentage		6.50%			6.50%			6.50%
Lionsgate Studios Corp. (Lionsgate)
Schedule of Investments [Line Items]
Equity securities fair value		$ 107.8			$ 107.8				64.2
Ownership percentage		2.40%			2.40%			2.40%
ITV plc (ITV)
Schedule of Investments [Line Items]
Equity securities fair value		$ 100.7			$ 100.7				208.4
Ownership percentage		2.50%			2.50%			2.50%
Proceeds from sale of equity method investments			101.8	£ 76.1
CANAL+ Polska S.A
Schedule of Investments [Line Items]
Equity securities fair value		$ 78.0			$ 78.0				81.8
Ownership percentage		17.00%			17.00%			17.00%
Plume Design, Inc. (Plume)
Schedule of Investments [Line Items]
Long-term investments at fair value		$ 57.3			$ 57.3				64.1
Ownership percentage		10.20%			10.20%			10.20%
Warrants, fair value		$ 18.4			$ 18.4				21.1
EdgeConneX, Inc. (EdgeConneX)
Schedule of Investments [Line Items]
Equity securities fair value		$ 0.0			0.0				$ 528.3
Proceeds from sale of equity method investments					$ 677.8		$ 0.0
Proceeds from sale of securities	$ 604.2		$ 73.6
EdgeConneX, Inc. (EdgeConneX) \| Herndon Topco
Schedule of Investments [Line Items]
Disposed interest percentage			16.00%	16.00%
AtlasEdge JV \| Liberty Global
Schedule of Investments [Line Items]
Percentage of ownership interest		50.00%			50.00%			50.00%
nexfibre JV \| Liberty Global
Schedule of Investments [Line Items]
Percentage of ownership interest		25.00%			25.00%			25.00%

Leases (Lease Expense and Cash Outflows from Operating and Finance Leases) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Finance lease expense:
Depreciation and amortization	$ 1.6	$ 1.4	$ 3.4	$ 3.4
Interest expense	0.7	0.6	1.3	1.4
Total finance lease expense	2.3	2.0	4.7	4.8
Operating lease expense	30.4	28.1	62.5	56.3
Short-term lease expense	0.0	0.1	0.1	0.2
Variable lease expense	0.4	0.4	0.8	0.8
Total lease expense	$ 33.1	$ 30.6	68.1	62.1
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases			44.4	39.3
Operating cash outflows from finance leases (interest component)			1.3	1.4
Financing cash outflows from finance leases (principal component)			3.7	2.8
Total cash outflows from operating and finance leases			$ 49.4	$ 43.5

Derivative Instruments (Interest Rate Swap Contracts, Options and Basis Swaps) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2026 USD ($)
Interest Rate Swap \| Notional amount due from counterparty \| Telenet
Derivative [Line Items]
Notional amount	$ 4,120.5
Weighted average remaining life	2 years 9 months 18 days
Interest Rate Swap \| Notional amount due from counterparty \| Other
Derivative [Line Items]
Notional amount	$ 248.9
Weighted average remaining life	19 years 6 months
Interest Rate Swap \| Notional amount due to counterparty \| Telenet
Derivative [Line Items]
Notional amount	$ 0.0
Interest Rate Swap \| Notional amount due to counterparty \| Other
Derivative [Line Items]
Notional amount	0.0
Basis Swaps \| Notional amount due from counterparty \| Telenet
Derivative [Line Items]
Notional amount	3,562.0
Basis Swaps \| Notional amount due from counterparty \| VM Ireland
Derivative [Line Items]
Notional amount	$ 1,027.3

Debt

6 Months Ended

Jun. 30, 2026

Debt Disclosure [Abstract]

Debt

The U.S. dollar equivalents of the components of our debt are as follows:


	June 30, 2026						Principal amount
	Weighted average interest rate (a)		Unused borrowing capacity (b)
			Borrowing currency		U.S. $ equivalent		June 30, 2026		December 31, 2025
			in millions

Telenet Credit Facility (c)	5.27	%	€	625.0	$	713.4	$	4,577.8	$	4,748.0
Telenet Senior Secured Notes	4.72	%	—		—		1,588.0		1,633.7

VM Ireland Credit Facility (d)	5.70	%	€	100.0	114.1		1,027.3		1,056.2
Vendor financing (e)	4.41	%	—		—		339.6		365.9
Other (f)	4.86	%	—		—		810.4		781.0
Total debt before deferred financing costs, discounts and premiums (g)	5.14	%			$	827.5	$	8,343.1	$	8,584.8

The following table provides a reconciliation of total debt before deferred financing costs, discounts and premiums to total debt and finance lease obligations:


	June 30, 2026		December 31, 2025
	in millions

Total debt before deferred financing costs, discounts and premiums	$	8,343.1	$	8,584.8
Deferred financing costs, discounts and premiums, net	(21.4)		(23.0)
Total carrying amount of debt	8,321.7		8,561.8
Finance lease obligations (note 10)	28.6		33.1
Total debt and finance lease obligations	8,350.3		8,594.9
Current portion of debt and finance lease obligations	(620.4)		(764.0)
Long-term debt and finance lease obligations	$	7,729.9	$	7,830.9

_______________


	Availability
	June 30, 2026				Upon completion of the relevant June 30, 2026 compliance reporting requirements
	Borrowing currency		U.S. $ equivalent		Borrowing currency		U.S. $ equivalent
	in millions

Available to borrow:
Telenet Credit Facility	€	625.0	$	713.4	€	625.0	$	713.4
VM Ireland Credit Facility	€	100.0	$	114.1	€	100.0	$	114.1

Available to loan or distribute:
Telenet Credit Facility	€	625.0	$	713.4	€	625.0	$	713.4
VM Ireland Credit Facility	€	100.0	$	114.1	€	100.0	$	114.1

(d)Unused borrowing capacity under the VM Ireland Credit Facility relates to €100.0 million ($114.1 million) under the VM Ireland Revolving Facility, which was undrawn at June 30, 2026.

General Information

At June 30, 2026, most of our outstanding debt had been incurred by one of our two subsidiary “borrowing groups.” References to these borrowing groups, which comprise Telenet and VM Ireland, include their respective restricted parent and subsidiary entities. Below we provide summary descriptions of certain financing transactions completed during 2026. For information regarding the general terms and conditions of our debt and capitalized terms not defined herein, see note 11 to the consolidated financial statements included in our 2025 10-K.

Financing Transactions

In April 2026, Telenet purchased and extinguished $28.4 million of the $1.0 billion principal amount of Telenet 5.50% Senior Notes due 2028.

In May 2026, Wyre Finance BV, a direct wholly-owned subsidiary of Wyre, entered into a bank facilities agreement comprised of (i) a €2.7 billion ($3.1 billion) term loan facility (the Wyre Term Facility), (ii) a €1.2 billion ($1.4 billion) capex term loan facility (the Wyre Capex Term Facility), (iii) a €215.0 million ($245.4 million) revolving facility (the Wyre Revolving Facility) and (iv) a €235.0 million ($268.2 million) debt service reserve facility (the Wyre DSR Facility and, together with the Wyre Term Facility, Wyre Capex Term Facility and Wyre Revolving Facility, the “Wyre Facilities”). Pending the approval of the fiber network cooperation agreement with Proximus by the Belgian Competition Authority (BCA), this will allow us to separate the Telenet and Wyre capital structures and access the funds available pursuant to the Wyre Facilities. The Wyre Term Facility may be used for, among other things, the refinancing of existing indebtedness (including intercompany loans), the funding of dividends or other distributions, investments and general corporate purposes of Wyre and its subsidiaries. The Wyre Capex Term Facility may be used for the financing and refinancing of capital expenditures and certain permitted acquisitions of Wyre and its subsidiaries, while the Wyre Revolving Facility is intended to support working capital and other general corporate purposes of Wyre and its subsidiaries. The Wyre DSR Facility is available to fund certain debt service liquidity requirements of Wyre and its subsidiaries. Borrowings under the Wyre Facilities bear interest at EURIBOR plus a margin ranging from 2.35% to 3.25%, with the applicable margin increasing annually from the third anniversary of the first utilization of the Wyre Term Facility and mature seven years after the first utilization date. On July 23, 2026, we received approval from the BCA and have begun the process of separating the Telenet and Wyre capital structures. As the Wyre Facilities were not available until after the balance sheet date, unused borrowing capacity at June 30, 2026 excludes the availability under the Wyre Facilities. The Wyre Facilities supersede the previously disclosed €500.0 million ($570.7 million) standalone Wyre Capex Facility, which expired in February 2026 without being utilized.

In July 2026, Liberty Global Europe Holdings BV, a wholly-owned subsidiary of Liberty Global, entered into a €300.0 million ($342.4 million) financing facility. This facility bears interest at a rate of EURIBOR plus a margin ranging from 2.75% to 4.75% and matures three years after the initial draw down, which has yet to occur. As this facility was not available until after the balance sheet date, unused borrowing capacity at June 30, 2026 excludes the availability under this facility.

Maturities of Debt


	Telenet (a)		VM Ireland		Other (b)		Total
	in millions

Year ending December 31:
2026 (remainder of year)	$	414.7	$	—	$	43.4	$	458.1
2027	180.7		—		22.8		203.5
2028	4,386.9		—		—		4,386.9
2029	1,292.2		1,027.3		13.2		2,332.7
2030	26.0		—		—		26.0
2031	26.5		—		—		26.5
Thereafter	831.0		—		78.4		909.4
Total debt maturities	7,158.0		1,027.3		157.8		8,343.1
Deferred financing costs, discounts and premiums, net	(11.6)		(3.1)		(6.7)		(21.4)
Total debt	$	7,146.4	$	1,024.2	$	151.1	$	8,321.7
Current portion	$	571.0	$	—	$	43.4	$	614.4
Long-term portion	$	6,575.4	$	1,024.2	$	107.7	$	7,707.3

_______________

(a)Amounts include vendor financing obligations of $339.6 million, all of which are classified as current on our condensed consolidated balance sheet, as set forth below (in millions):





Year ending December 31:
2026 (remainder of year)	$	183.7
2027	155.9





Total vendor financing maturities	$	339.6

Vendor Financing Obligations

A reconciliation of the beginning and ending balances of our vendor financing obligations for the indicated periods is set forth below:


	2026		2025
	in millions

Balance at January 1	$	365.9	$	355.9
Operating-related vendor financing additions	190.0		151.6
Capital-related vendor financing additions	42.7		36.9
Principal payments on operating-related vendor financing	(191.5)		(176.6)
Principal payments on capital-related vendor financing	(57.5)		(30.4)
Foreign currency and other	(10.0)		47.8
Balance at June 30	$	339.6	$	385.2

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(16))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
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-Name Accounting Standards Codification
-Section S50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480657/210-10-S50-8

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(19)(b))
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-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
-Subparagraph (SX 210.5-02(22)(b))
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
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-Paragraph 1
-Subparagraph (SX 210.5-02(22)(a)(3))
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-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
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-Paragraph 1
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
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-Paragraph 1
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
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-Paragraph 1
-Subparagraph (SX 210.5-02(19))
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-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147480657/210-10-S50-9

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section S50
-Paragraph 1
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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+ Details

Investments (Fair Value Realized and Unrealized gain Losses) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Net Investment Income [Line Items]
Total	$ 155.4	$ 55.3	$ 213.2	$ 111.1
EdgeConneX
Net Investment Income [Line Items]
Total	95.3	14.9	154.2	3.6
Lionsgate
Net Investment Income [Line Items]
Total	40.4	(9.5)	43.6	(7.3)
Televisa Univision
Net Investment Income [Line Items]
Total	2.8	(27.6)	7.8	(41.6)
Plume
Net Investment Income [Line Items]
Total	(5.6)	(9.7)	(6.8)	(13.0)
ITV
Net Investment Income [Line Items]
Total	7.3	43.1	(6.1)	79.8
Vodafone
Net Investment Income [Line Items]
Total	0.0	57.9	0.0	121.6
Other, net
Net Investment Income [Line Items]
Total	$ 15.2	$ (13.8)	$ 20.5	$ (32.0)

Debt (Narrative) (Details) € in Millions, $ in Millions	1 Months Ended			6 Months Ended
Debt (Narrative) (Details) € in Millions, $ in Millions	Jul. 24, 2026 USD ($)	May 31, 2026 USD ($)	Apr. 30, 2026 USD ($)	Jun. 30, 2026 subsidiary group	Jul. 24, 2026 EUR (€)	May 31, 2026 EUR (€)	Feb. 28, 2026 USD ($)	Feb. 28, 2026 EUR (€)
Debt Instrument [Line Items]
Number of subsidiaries with the most outstanding debt \| subsidiary				1
Number of borrowing groups \| group				2
Maturity term		7 years
Minimum
Debt Instrument [Line Items]
Stated interest percentage		2.35%				2.35%
Maximum
Debt Instrument [Line Items]
Stated interest percentage		3.25%				3.25%
Senior notes due 2028
Debt Instrument [Line Items]
Purchased and extinguished			$ 28.4
Principal amount			$ 1,000.0
Stated interest percentage			5.50%
Wyre Term Facility
Debt Instrument [Line Items]
Principal amount		$ 3,100.0				€ 2,700.0
Wyre Capex Term Facility
Debt Instrument [Line Items]
Principal amount		1,400.0				1,200.0	$ 570.7	€ 500.0
Wyre Revolving Facility
Debt Instrument [Line Items]
Principal amount		245.4				215.0
Wyre DSR Facility
Debt Instrument [Line Items]
Principal amount		$ 268.2				€ 235.0
Financing Facility \| Liberty Global Europe Holdings BV \| Subsequent Event \| Line of credit
Debt Instrument [Line Items]
Principal amount	$ 342.4				€ 300.0
Maturity term	3 years
Financing Facility \| Minimum \| Liberty Global Europe Holdings BV \| Subsequent Event \| Line of credit
Debt Instrument [Line Items]
Basis spread on variable rate	2.75%
Financing Facility \| Maximum \| Liberty Global Europe Holdings BV \| Subsequent Event \| Line of credit
Debt Instrument [Line Items]
Basis spread on variable rate	4.75%

Long-lived Assets (Property and Equipment, Net) (Details) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Property, Plant, and Equipment [Line Items]
Total property and equipment, gross	$ 11,631.6	$ 11,200.5
Accumulated depreciation	(6,209.5)	(5,930.2)
Total property and equipment, net	5,422.1	5,270.3
Distribution systems
Property, Plant, and Equipment [Line Items]
Total property and equipment, gross	7,528.4	7,189.1
Support equipment, buildings and land
Property, Plant, and Equipment [Line Items]
Total property and equipment, gross	2,940.5	2,941.2
CPE
Property, Plant, and Equipment [Line Items]
Total property and equipment, gross	$ 1,162.7	$ 1,070.2

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 905
-SubTopic 360
-Name Accounting Standards Codification
-Section 25
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478704/905-360-25-4

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 360
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482338/360-10-05-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section 30
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482222/360-10-30-2

Reference 4: http://www.xbrl.org/2003/role/exampleRef
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-URI https://asc.fasb.org/1943274/2147482338/360-10-05-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-1

Reference 6: http://www.xbrl.org/2003/role/exampleRef
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-Section 05
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
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-Subparagraph (c)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482558/350-40-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-7A

+ Details

Debt (Components of Debt) (Details) € in Millions, $ in Millions	Jun. 30, 2026 USD ($)	Jun. 30, 2026 EUR (€)	Dec. 31, 2025 USD ($)	Jun. 30, 2025 USD ($)	Dec. 31, 2024 USD ($)
Debt Instrument [Line Items]
Weighted average interest rate	5.14%	5.14%
Unused borrowing capacity, amount	$ 827.5
Total debt before deferred financing costs, discounts and premiums	8,343.1		$ 8,584.8
Deferred financing costs, discounts and premiums, net	(21.4)		(23.0)
Total carrying amount of debt	8,321.7		8,561.8
Finance lease obligations	28.6		33.1
Total debt and finance lease obligations	8,350.3		8,594.9
Current portion of debt and finance lease obligations	(620.4)		(764.0)
Long-term debt and finance lease obligations	$ 7,729.9		7,830.9
Telenet Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate	5.27%	5.27%
Total debt before deferred financing costs, discounts and premiums	$ 4,577.8		4,748.0
Telenet Credit Facility \| Sunrise Holding Revolving Facility
Debt Instrument [Line Items]
Unused borrowing capacity, amount	713.4	€ 625.0
Available to borrow	713.4	625.0
Available to loan or distribute	713.4	625.0
Telenet Credit Facility \| Sunrise Holding Revolving Facility \| Upon completion of the relevant compliance reporting requirements
Debt Instrument [Line Items]
Unused borrowing capacity, amount	713.4	625.0
Available to loan or distribute	$ 713.4	€ 625.0
Telenet Senior Secured Notes
Debt Instrument [Line Items]
Weighted average interest rate	4.72%	4.72%
Total debt before deferred financing costs, discounts and premiums	$ 1,588.0		1,633.7
VM Ireland Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate	5.70%	5.70%
Unused borrowing capacity, amount	$ 114.1	€ 100.0
Total debt before deferred financing costs, discounts and premiums	1,027.3		1,056.2
VM Ireland Credit Facility \| Sunrise Holding Revolving Facility
Debt Instrument [Line Items]
Unused borrowing capacity, amount	114.1	100.0
Available to borrow	114.1	100.0
Available to loan or distribute	114.1	100.0
VM Ireland Credit Facility \| Sunrise Holding Revolving Facility \| Upon completion of the relevant compliance reporting requirements
Debt Instrument [Line Items]
Unused borrowing capacity, amount	114.1	100.0
Available to loan or distribute	$ 114.1	€ 100.0
Vendor financing
Debt Instrument [Line Items]
Weighted average interest rate	4.41%	4.41%
Total debt before deferred financing costs, discounts and premiums	$ 339.6		365.9	$ 385.2	$ 355.9
Other
Debt Instrument [Line Items]
Weighted average interest rate	4.86%	4.86%
Total debt before deferred financing costs, discounts and premiums	$ 810.4		$ 781.0

Fair Value Measurements (Assets and Liabilities at Fair Value) (Details) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total derivative instruments	$ 273.2	$ 248.8
SMAs		76.2
Other investments		1,631.5
Total — fair value	1,054.6	1,707.7
Total assets	1,327.8	1,956.5
Derivative instruments	182.1	259.7
Total liabilities	182.1	259.7
Quoted prices in active markets for identical assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total derivative instruments	0.0	0.0
SMAs		0.0
Other investments		278.1
Total — fair value	222.1	278.1
Total assets	222.1	278.1
Total liabilities	0.0	0.0
Significant other observable inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total derivative instruments	273.2	248.8
SMAs		76.2
Other investments		0.1
Total — fair value	0.1	76.3
Total assets	273.3	325.1
Total liabilities	182.1	259.7
Significant unobservable inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total derivative instruments	0.0	0.0
SMAs		0.0
Other investments		1,353.3
Total — fair value	832.4	1,353.3
Total assets	832.4	1,353.3
Total liabilities	0.0	0.0
Cross-currency and interest rate derivative contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total derivative instruments	257.0	240.9
Derivative instruments	168.6	248.2
Cross-currency and interest rate derivative contracts \| Quoted prices in active markets for identical assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total derivative instruments	0.0	0.0
Derivative instruments	0.0	0.0
Cross-currency and interest rate derivative contracts \| Significant other observable inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total derivative instruments	257.0	240.9
Derivative instruments	168.6	248.2
Cross-currency and interest rate derivative contracts \| Significant unobservable inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total derivative instruments	0.0	0.0
Derivative instruments	0.0	0.0
Foreign currency forward and option contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total derivative instruments	2.8	0.1
Derivative instruments	1.7	2.8
Foreign currency forward and option contracts \| Quoted prices in active markets for identical assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total derivative instruments	0.0	0.0
Derivative instruments	0.0	0.0
Foreign currency forward and option contracts \| Significant other observable inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total derivative instruments	2.8	0.1
Derivative instruments	1.7	2.8
Foreign currency forward and option contracts \| Significant unobservable inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total derivative instruments	0.0	0.0
Derivative instruments	0.0	0.0
Other
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total derivative instruments	13.4	7.8
Derivative instruments	11.8	8.7
Other \| Quoted prices in active markets for identical assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total derivative instruments	0.0	0.0
Derivative instruments	0.0	0.0
Other \| Significant other observable inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total derivative instruments	13.4	7.8
Derivative instruments	11.8	8.7
Other \| Significant unobservable inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total derivative instruments	0.0	0.0
Derivative instruments	$ 0.0	$ 0.0

Long-lived Assets

6 Months Ended

Jun. 30, 2026

Property, Plant, and Equipment [Abstract]

Long-lived Assets

Property and Equipment, Net

The details of our property and equipment and the related accumulated depreciation are set forth below:


	June 30, 2026		December 31, 2025
	in millions

Distribution systems	$	7,528.4	$	7,189.1
Support equipment, buildings and land	2,940.5		2,941.2
CPE	1,162.7		1,070.2
Total property and equipment, gross	11,631.6		11,200.5
Accumulated depreciation	(6,209.5)		(5,930.2)
Total property and equipment, net	$	5,422.1	$	5,270.3

During the six months ended June 30, 2026 and 2025, we recorded non-cash increases to our property and equipment related to vendor financing arrangements of $36.1 million and $32.1 million, respectively, which exclude related value-added taxes (VAT) of $6.6 million and $4.8 million, respectively, that were also financed under these arrangements.

Goodwill

Changes in the carrying amount of our goodwill during the six months ended June 30, 2026 are set forth below:


	January 1, 2026		Acquisitions and related adjustments		Foreign currency translation adjustments and other		June 30, 2026
	in millions

Telenet	$	2,516.5	$	—	$	(69.1)	$	2,447.4
Wyre	457.0		—		(12.5)		444.5
VM Ireland	284.4		—		(7.8)		276.6
Other	244.9		2.7		(0.6)		247.0
Total	$	3,502.8	$	2.7	$	(90.0)	$	3,415.5

If, among other factors, the adverse impacts of economic, competitive, regulatory or other factors were to cause our results of operations or cash flows to be worse than anticipated, we could conclude in future periods that impairment charges are required in order to reduce the carrying values of our goodwill and, to a lesser extent, other long-lived assets. Any such impairment charges could be significant.

Intangible Assets Subject to Amortization, Net

The details of our intangible assets subject to amortization are set forth below:


	June 30, 2026						December 31, 2025
	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
	in millions

Licenses (a)	$	1,539.5	$	(458.9)	$	1,080.6	$	1,582.8	$	(438.0)	$	1,144.8
Customer relationships	261.6		(187.7)		73.9		269.0		(186.0)		83.0
Other	271.7		(159.4)		112.3		278.9		(157.3)		121.6
Total	$	2,072.8	$	(806.0)	$	1,266.8	$	2,130.7	$	(781.3)	$	1,349.4

_______________

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2026	Jul. 17, 2026
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2026
Document Transition Report	false
Entity File Number	001-35961
Entity Registrant Name	Liberty Global Ltd.
Entity Incorporation, State or Country Code	D0
Entity Tax Identification Number	98-1750381
Entity Address, Address Line One	Clarendon House
Entity Address, Address Line Two	2 Church Street
Entity Address, City or Town	Hamilton
Entity Address, Postal Zip Code	HM 11
Entity Address, Country	BM
Country Region	1
City Area Code	303
Local Phone Number	220.6600
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
Entity Shell Company	false
Entity Central Index Key	0001570585
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A
Entity Information [Line Items]
Title of 12(b) Security	Class A common shares
Trading Symbol	LBTYA
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		176,722,235
Class B
Entity Information [Line Items]
Title of 12(b) Security	Class B common shares
Trading Symbol	LBTYB
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		12,968,658
Class C
Entity Information [Line Items]
Title of 12(b) Security	Class C common shares
Trading Symbol	LBTYK
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		151,396,673

Derivative Instruments (Cross-currency Swap Contracts) (Details) - 6 months ended Jun. 30, 2026 - Telenet - Cross-currency swap € in Millions, $ in Millions	USD ($)	EUR (€)
Derivative [Line Items]
Weighted average remaining life	1 year 9 months 18 days
Notional amount due from counterparty
Derivative [Line Items]
Notional amount \| $	$ 3,266.6
Notional amount due to counterparty
Derivative [Line Items]
Notional amount \| €		€ 2,899.5

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2026
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rate for the three months ended June 30, 2026 was (6.8%) (income tax expense of $22.8 million), which differs from the Bermuda statutory rate of 15.0% (expected income tax benefit of $50.2 million). This difference is primarily due to the negative impact of non-deductible net losses from certain investments in the U.K., the Netherlands and Luxembourg of $75.7 million (22.5%). Our effective tax rate for the six months ended June 30, 2026 was 99.8% (income tax expense of $198.2 million), which differs from the Bermuda statutory rate of 15.0% (expected income tax expense of $29.8 million). This difference is primarily due to the negative impacts of (i) the derecognition of a tax litigation-related receivable in the U.S. of $133.3 million (67.1%), (ii) non-deductible net losses from certain investments in the U.K., the Netherlands and Luxembourg of $79.7 million (40.1%), and (iii) certain non-taxable or non-deductible items in Belgium, the U.K., the U.S. and the Netherlands of $30.2 million (15.3%). The negative impacts of these items were partially offset by the positive impact of non-taxable net foreign currency exchange gains in the U.K. of $97.1 million (48.9%). Our effective tax rate for the three months ended June 30, 2025 was 0.0% (income tax expense of $0.9 million), which differs from the Bermuda statutory rate of 15.0% (expected income tax benefit of $415.9 million). This difference is primarily due to the negative impacts of (i) non-deductible net foreign exchange losses in the U.K. of $594.9 million (21.5%) and (ii) non-deductible net losses from certain investments in the U.K. and the Netherlands of $69.5 million (2.5%). The negative impacts of these items were partially offset by the net positive impact of statutory rates in certain jurisdictions in which we operate that are different than the Bermuda statutory rate, including $259.7 million (9.4%) in the U.K. Our effective tax rate for the six months ended June 30, 2025 was 1.7% (income tax benefit of $69.1 million), which differs from the Bermuda statutory rate of 15.0% (expected income tax benefit of $624.9 million). This difference is primarily due to the negative impacts of (i) non-deductible net foreign exchange losses in the U.K. of $903.1 million (21.7%) and (ii) non-deductible net losses from certain investments in the U.K. and the Netherlands of $112.8 million (2.7%). The negative impacts of these items were partially offset by the positive impacts of (a) statutory rates in certain jurisdictions in which we operate that are different than the Bermuda statutory rate, including $392.3 million (9.4%) in the U.K., and (b) the release of valuation allowances in Luxembourg of $86.0 million (2.1%). On July 4, 2025, the One Big Beautiful Bill Act (the OBBBA) was enacted in the U.S., introducing various changes to federal tax law. We have evaluated the provisions of the OBBBA and determined that they did not have a material impact on our consolidated financial statements through June 30, 2026, nor do we currently anticipate that the OBBBA will have a material impact on our consolidated financial statements in the future. As of June 30, 2026, our unrecognized tax benefits were $143.2 million, of which $90.8 million would have a favorable impact on our effective income tax rate if ultimately recognized, after considering amounts that we would expect to be offset by valuation allowances and other factors. We and our subsidiaries file consolidated and standalone income tax returns in various jurisdictions. In the normal course of business, our income tax filings are subject to review by various taxing authorities. In connection with such reviews, disputes could arise with the taxing authorities over the interpretation or application of certain income tax rules related to our business in that tax jurisdiction. Such disputes may result in future tax and interest and penalty assessments by these taxing authorities. The ultimate resolution of tax contingencies will take place upon the earlier of (i) the settlement date with the applicable tax authorities in either cash or agreement of income tax positions or (ii) the date when the tax authorities are statutorily prohibited from adjusting the company’s tax computations. In general, tax returns filed by our company or our subsidiaries for years prior to 2019 are no longer subject to examination by tax authorities. Certain of our subsidiaries are currently involved in income tax examinations in various jurisdictions in which we operate, including Belgium, Luxembourg and the U.S. While we do not expect adjustments from the foregoing examinations to have a material impact on our consolidated financial position, results of operations or cash flows, no assurance can be given that this will be the case given the amounts involved and the complex nature of the related issues. On October 7, 2022, the U.S. Department of Justice (DOJ) filed a suit against Liberty Global, Inc. (LGI), a wholly-owned U.S. subsidiary of Liberty Global, in the U.S. District Court of Colorado (the District Court) for unpaid federal income taxes and penalties for the 2018 tax year of approximately $284 million. This action by the DOJ is related to the November 2020 complaint filed by LGI in the District Court seeking a refund of approximately $110 million of taxes, penalties and interest associated with the application of certain temporary Treasury regulations issued in June 2019. In October 2023, the District Court entered judgment against LGI with respect to the refund claim and we appealed this decision to the U.S. Court of Appeals for the Tenth Circuit (the Court of Appeals) in December 2023. In April 2026, the Court of Appeals upheld the District Court’s decision with respect to the refund claim. As a result of the adverse appellate ruling, we concluded that the realization of the refund is no longer probable; therefore, in the first quarter of 2026, we derecognized the associated receivable. We have sought a review of the appellate court’s decision. As it pertains to the suit filed by the DOJ in 2022, we will continue our defense of certain matters not specifically addressed in the decision by the Court of Appeals.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Derivative Instruments (Impact of Derivative Instruments on Borrowing Costs) (Details)	Jun. 30, 2026
Derivative [Line Items]
Total decrease to borrowing costs	(1.62%)
VM Ireland
Derivative [Line Items]
Total decrease to borrowing costs	(1.89%)
Telenet
Derivative [Line Items]
Total decrease to borrowing costs	(1.61%)
Other
Derivative [Line Items]
Total decrease to borrowing costs	0.28%

Segment Reporting

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Segment Reporting

Our chief executive officer, whom we have determined to be our Chief Operating Decision Maker (CODM), assesses the performance of our business and allocates resources on a segment basis. We generally identify our reportable segments as (i) those consolidated subsidiaries that represent 10% or more of our total reportable segment revenue or proportionate Adjusted EBITDA (as defined below) or (ii) those equity method affiliates where revenue or our share of Adjusted EBITDA represents 10% or more of our total reportable segment revenue or proportionate Adjusted EBITDA, respectively. In certain cases, we may elect to include an operating segment in our segment disclosure that does not meet the above-described criteria for a reportable segment. Adjusted EBITDA is the primary measure used by our CODM to evaluate segment operating performance and make decisions about allocating resources to our operating segments. The CODM uses Adjusted EBITDA to evaluate income generated from our segment assets in deciding whether to reinvest profits into other areas of our business, such as for acquisitions or investments. Adjusted EBITDA is also used to monitor budget versus actual results, which is used in assessing the performance of segments in comparison with one another and in establishing management’s compensation. The significant accounting policies of our segments are the same as those described in note 3 to the consolidated financial statements included in our 2025 10-K. In addition, our CODM reviews non-financial measures such as customer growth, as appropriate, but does not review any measure of total assets.

As we use the term, “Adjusted EBITDA” is defined as net earnings (loss) before net income tax benefit (expense), other non-operating income or expenses, net share of results of affiliates, net gains (losses) on debt extinguishment, net realized and unrealized gains (losses) due to changes in fair values of certain investments, net foreign currency transaction gains (losses), net gains (losses) on derivative instruments, net interest expense, depreciation and amortization, share-based compensation, provisions and provision releases related to significant litigation and impairment, restructuring and other operating items. Other operating items include (i) gains and losses on the disposition of long-lived assets, (ii) third-party costs directly associated with successful and unsuccessful acquisitions and dispositions, including legal, advisory and due diligence fees, as applicable, and (iii) other acquisition-related items, such as gains and losses on the settlement of contingent consideration. Our internal decision makers believe Adjusted EBITDA is a meaningful measure because it represents a transparent view of our recurring operating performance that is unaffected by our capital structure and allows management to (a) readily view operating trends, (b) perform

analytical comparisons and benchmarking between segments and (c) identify strategies to improve operating performance in the different countries in which we operate. A reconciliation of total reportable segment Adjusted EBITDA to earnings (loss) before income taxes is presented below.

As of June 30, 2026, our reportable segments are as follows:

Consolidated:

•Telenet

•Wyre

•VM Ireland

Nonconsolidated:

•VMO2 JV

•VodafoneZiggo JV

During the first quarter of 2026, we revised our segment presentation to separately present Wyre as a reportable segment. Prior to this change, Wyre was included within the Telenet reportable segment, as previously defined. This change reflects the manner in which our CODM now evaluates the financial performance of our operations in Belgium. Segment information for prior periods has been revised to reflect this change.

Telenet, VM Ireland, the VMO2 JV and the VodafoneZiggo JV derive their revenue primarily from residential and B2B communications services, including broadband internet, video, fixed-line telephony and mobile services. Wyre derives revenue primarily by providing access to its network on a wholesale basis.

Our “all other category” includes the following activities that do not meet the reportable segment quantitative thresholds:

•Certain of our investments in technology, media, sports and infrastructure companies, including our investment in Formula E, that we view as scalable businesses, which derive their revenue from providing various goods, services and content to customers;

•Our technology and services activities that generate revenue through (i) sales of CPE to our reportable segments and certain third parties and (ii) providing certain centralized network operations and technology solutions;

•Our operational and finance services platform (Liberty Blume) that generates revenue by providing services to various third parties and affiliates; and

•Costs associated with our other corporate activities, including human resources, marketing, legal, finance and other administrative functions.

Our centrally-managed technology and innovation function (our T&I Function) provides, and allocates charges for, certain products and services to our reportable segments (the Tech Framework). These products and services include CPE hardware and related essential software, maintenance, hosting and other services. Our reportable segments capitalize the combined cost of the CPE hardware and a portion of the essential software as property and equipment additions and the corresponding amounts charged by our T&I Function are reflected as revenue when earned.

Performance Measures of our Reportable Segments


	Revenue
	Three months ended June 30, 2026						Six months ended June 30, 2026
	Third-party and affiliate		Intersegment		Total		Third-party and affiliate		Intersegment		Total
	in millions

Telenet	$	716.9	$	36.2	$	753.1	$	1,459.5	$	53.0	$	1,512.5
Wyre	34.5		163.3		197.8		68.3		328.4		396.7
VM Ireland	122.4		—		122.4		249.4		—		249.4
VMO2 JV (nonconsolidated)	3,220.3		—		3,220.3		6,442.7		—		6,442.7
VodafoneZiggo JV (nonconsolidated)	1,133.7		—		1,133.7		2,282.2		—		2,282.2
Total reportable segment revenue	$	5,227.8	$	199.5	5,427.3		$	10,502.1	$	381.4	10,883.5
Plus: all other category (a)					343.5						760.3
Less: nonconsolidated JV revenue					(4,354.0)						(8,724.9)
Less: elimination of intercompany consolidated revenue (b)					(244.8)						(472.3)
Total consolidated revenue					$	1,172.0					$	2,446.6


	Revenue
	Three months ended June 30, 2025						Six months ended June 30, 2025
	Third-party and affiliate		Intersegment		Total		Third-party and affiliate		Intersegment		Total
	in millions

Telenet	$	770.2	$	14.9	$	785.1	$	1,501.7	$	26.6	$	1,528.3
Wyre	30.7		164.3		195.0		58.9		316.9		375.8
VM Ireland	122.8		—		122.8		238.6		—		238.6
VMO2 JV (nonconsolidated)	3,373.5		—		3,373.5		6,499.8		—		6,499.8
VodafoneZiggo JV (nonconsolidated)	1,123.3		—		1,123.3		2,175.3		—		2,175.3
Total reportable segment revenue	$	5,420.5	$	179.2	5,599.7		$	10,474.3	$	343.5	10,817.8
Plus: all other category (a)					387.5						722.2
Less: nonconsolidated JV revenue					(4,496.8)						(8,675.1)
Less: elimination of intercompany consolidated revenue (b)					(221.3)						(424.6)
Total consolidated revenue					$	1,269.1					$	2,440.3

______________

(a)Amounts include revenue from:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

Third parties and affiliates	$	108.0	$	201.7	$	331.9	$	362.8
Services agreements with our nonconsolidated JV reportable segments (as further described in note 5)	188.6		143.7		335.8		278.3
Consolidated reportable segments	46.9		42.1		92.6		81.1
Total	$	343.5	$	387.5	$	760.3	$	722.2

(b)Primarily reflects the elimination of (i) transactions between our Telenet and Wyre reportable segments and (ii) the revenue recognized related to the Tech Framework.


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

Programming and other direct costs of services:
Consolidated reportable segments:
Telenet	$	309.5	$	349.8	$	629.6	$	702.5
Wyre	$	1.7	$	1.7	$	3.4	$	3.3
VM Ireland	$	31.2	$	32.5	$	68.4	$	66.6

Nonconsolidated reportable segments:
VMO2 JV	$	901.6	$	1,021.3	$	1,842.6	$	2,012.8
VodafoneZiggo JV	$	240.9	$	226.4	$	485.1	$	445.7

Operating expenses:
Consolidated reportable segments:
Telenet	$	246.6	$	250.2	$	502.0	$	484.9
Wyre	$	54.5	$	40.4	$	97.4	$	73.8
VM Ireland	$	50.8	$	48.9	$	102.2	$	93.4

Nonconsolidated reportable segments:
VMO2 JV	$	1,138.4	$	1,179.9	$	2,328.0	$	2,241.3
VodafoneZiggo JV	$	422.7	$	400.2	$	845.0	$	769.8


	Adjusted EBITDA
	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

Telenet	$	197.0	$	185.1	$	380.9	$	340.9
Wyre	141.6		152.9		295.9		298.7
VM Ireland	40.4		41.4		78.8		78.6
VMO2 JV (nonconsolidated)	1,180.3		1,172.3		2,272.1		2,245.7
VodafoneZiggo JV (nonconsolidated)	470.1		496.7		952.1		959.8
Total reportable segment Adjusted EBITDA	$	2,029.4	$	2,048.4	$	3,979.8	$	3,923.7

The following table provides a reconciliation of total reportable segment Adjusted EBITDA to earnings (loss) before income taxes:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

Total reportable segment Adjusted EBITDA	$	2,029.4	$	2,048.4	$	3,979.8	$	3,923.7
Plus: all other category	(43.7)		(34.1)		(44.0)		(38.3)
Less: nonconsolidated JV Adjusted EBITDA	(1,650.4)		(1,669.0)		(3,224.2)		(3,205.5)
Less: intercompany consolidated eliminations (a)	(10.4)		(10.0)		(20.2)		(20.0)
Share-based compensation expense	(43.9)		(49.4)		(81.0)		(82.8)
Depreciation and amortization	(262.5)		(250.8)		(527.3)		(483.0)
Impairment, restructuring and other operating items, net	(15.5)		(5.5)		(56.3)		(3.8)
Operating income	3.0		29.6		26.8		90.3
Interest expense	(115.9)		(129.5)		(229.6)		(257.0)
Realized and unrealized gains (losses) on derivative instruments, net	18.2		(406.0)		150.4		(570.7)
Foreign currency transaction gains (losses), net	(122.6)		(2,089.9)		307.6		(3,170.9)
Realized and unrealized gains due to changes in fair values of certain investments, net	155.4		55.3		213.2		111.1

Share of results of affiliates, net	(289.9)		(264.6)		(311.6)		(412.6)


Other income, net	16.8		32.2		41.8		43.6
Earnings (loss) before income taxes	$	(335.0)	$	(2,772.9)	$	198.6	$	(4,166.2)

_____________

Property and Equipment Additions of our Reportable Segments


	Six months ended June 30,
	2026		2025
	in millions

Telenet	$	226.5	$	268.5
Wyre	409.5		247.5
VM Ireland	84.4		98.3
VMO2 JV (nonconsolidated)	1,183.3		1,267.1
VodafoneZiggo JV (nonconsolidated)	506.2		435.1
Total reportable segment property and equipment additions	2,409.9		2,316.5
Plus: all other category (a)	92.4		16.5
Less: nonconsolidated JV property and equipment additions	(1,689.5)		(1,702.2)
Less: elimination of intercompany consolidated property and equipment additions (b)	(20.2)		(20.0)
Total consolidated property and equipment additions	792.6		610.8
Assets acquired under capital-related vendor financing arrangements	(36.1)		(32.1)
Assets acquired under finance leases	(1.3)		—
Changes in current liabilities related to capital expenditures	(9.7)		(16.1)
Total capital expenditures, net	$	745.5	$	562.6

_______________

Revenue by Major Category

Our revenue by major category is set forth below:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

Residential revenue:
Residential fixed revenue (a):
Subscription revenue (b):
Broadband internet	$	248.5	$	238.3	$	496.9	$	456.7
Video	131.8		153.7		279.1		297.8
Fixed-line telephony	35.2		47.2		80.1		91.5
Total subscription revenue	415.5		439.2		856.1		846.0
Non-subscription revenue	8.0		4.6		16.1		9.7
Total residential fixed revenue	423.5		443.8		872.2		855.7
Residential mobile revenue (c):
Subscription revenue (b)	130.6		125.0		259.1		240.7
Non-subscription revenue	34.6		37.6		77.6		73.8
Total residential mobile revenue	165.2		162.6		336.7		314.5
Total residential revenue	588.7		606.4		1,208.9		1,170.2
B2B revenue (d):
Subscription revenue	113.5		112.5		227.4		216.3
Non-subscription revenue	118.5		113.4		237.4		216.6
Total B2B revenue	232.0		225.9		464.8		432.9
Other revenue (e)	351.3		436.8		772.9		837.2
Total	$	1,172.0	$	1,269.1	$	2,446.6	$	2,440.3

_______________

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.

- Definition

The entire disclosure for segment reporting.

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+ Details

Investments (Summary of Recorded Revenue) (Details) - VMO2 JV - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Schedule of Equity Method Investments [Line Items]
Total revenue	$ 131.9	$ 95.5	$ 225.1	$ 184.0
Fixed fee
Schedule of Equity Method Investments [Line Items]
Total revenue	58.0	56.7	117.3	110.8
Variable charges
Schedule of Equity Method Investments [Line Items]
Total revenue	$ 73.9	$ 38.8	$ 107.8	$ 73.2

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Derivative Instruments (Fair Values of Derivative Assets and Liabilities) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Assets:
Current	$ 150.4		$ 150.4		$ 135.0
Long-term	122.8		122.8		113.8
Total	273.2		273.2		248.8
Liability:
Current	124.7		124.7		136.3
Long-term	57.4		57.4		123.4
Total	182.1		182.1		259.7
Cross-currency and interest rate derivative contracts
Assets:
Current	135.3		135.3		127.1
Long-term	121.7		121.7		113.8
Total	257.0		257.0		240.9
Liability:
Current	112.5		112.5		126.2
Long-term	56.1		56.1		122.0
Total	168.6		168.6		248.2
Gain (loss) on change in credit risk valuation included in realized and unrealized gains (losses) on derivative instruments, net	2.6	$ 5.2	3.0	$ 9.4
Foreign currency forward and option contracts
Assets:
Current	2.1		2.1		0.1
Long-term	0.7		0.7		0.0
Total	2.8		2.8		0.1
Liability:
Current	0.4		0.4		1.9
Long-term	1.3		1.3		0.9
Total	1.7		1.7		2.8
Other
Assets:
Current	13.0		13.0		7.8
Long-term	0.4		0.4		0.0
Total	13.4		13.4		7.8
Liability:
Current	11.8		11.8		8.2
Long-term	0.0		0.0		0.5
Total	$ 11.8		$ 11.8		$ 8.7

Share-based Compensation

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

Share-based Compensation

Our share-based compensation expense primarily relates to the share-based incentive awards issued by Liberty Global to its employees and employees of its subsidiaries. A summary of our aggregate share-based compensation expense is set forth below:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

Liberty Global (a):
Non-performance based incentive awards	$	16.6	$	21.3	$	38.4	$	43.1
Performance-based incentive awards	18.5		15.4		28.8		20.9
Other (b)	4.5		8.8		7.5		14.9
Total Liberty Global	39.6		45.5		74.7		78.9
Other	4.3		3.9		6.3		3.9
Total	$	43.9	$	49.4	$	81.0	$	82.8
Included in:
Other operating expense	$	3.6	$	3.5	$	6.8	$	6.4
SG&A expense	40.3		45.9		74.2		76.4
Total	$	43.9	$	49.4	$	81.0	$	82.8

_______________

(a)Amounts include share-based compensation expense related to certain Telenet Replacement Awards.


	Class A			Class C
	Gross number of shares underlying option, SAR and PSAR awards (a)	Weighted average exercise or base price		Gross number of shares underlying option, SAR and PSAR awards (a)	Weighted average exercise or base price

Held by Liberty Global employees:
Outstanding	34,469,992	$	13.72	79,719,558	$	13.88
Exercisable	32,458,430	$	13.96	76,960,071	$	14.01

Held by former Liberty Global employees (b):
Outstanding	2,217,537	$	15.43	4,370,561	$	15.45
Exercisable	2,216,271	$	15.44	4,368,051	$	15.45

_______________


	Class A	Class B	Class C

Held by Liberty Global employees:
RSUs	5,385,105	519,268	5,696,016
PSUs	6,620,524	649,086	8,418,934
Held by former Liberty Global employees (a):
RSUs	6,610	—	7,221
PSUs	1,812	—	1,812

_______________

2026 PSUs

In March 2026, the compensation committee of our board of directors approved the grant of PSUs to executive officers and certain employees (the 2026 PSUs). The performance metric for the 2026 PSUs is the appreciation of Liberty Global’s average share price during the performance period commencing March 26, 2026 and ending December 31, 2028. The payout is determined based on growth tied to certain pre-established price levels, as adjusted by the committee for (i) corporate transactions, including acquisitions, dispositions, spin-offs and mergers, and (ii) force majeure type events such as natural disasters, acts of war or terrorism or other unanticipated events impacting the business that are outside of our control. Share price appreciation of 0% to 80% will generally result in award recipients earning 0% to 200% of their target 2026 PSUs. In addition, 50% of the 2026 PSUs award payout may be “banked” if Liberty Global’s average share price achieves and maintains specific target levels ranging from 30% to 50% during the performance period, subject to a cap of 75% of the target 2026 PSUs. The earned 2026 PSUs will fully vest on or around February 15, 2029.

Leases (Tables)

6 Months Ended

Jun. 30, 2026

Leases [Abstract]

Schedule of Lease Balances

A summary of our right-of-use (ROU) assets and lease liabilities is set forth below:


	June 30, 2026		December 31, 2025
	in millions

ROU assets:
Operating leases (a)	$	768.8	$	773.6
Finance leases (b)	35.1		37.1
Total ROU assets	$	803.9	$	810.7

Lease liabilities:
Operating leases (c)	$	812.8	$	828.5
Finance leases (d)	28.6		33.1
Total lease liabilities	$	841.4	$	861.6

_______________

(a)Our operating lease ROU assets are included in other assets, net, on our condensed consolidated balance sheets. At June 30, 2026, the weighted average remaining lease term for operating leases was 10.5 years and the weighted average discount rate was 5.4%. During the six months ended June 30, 2026 and 2025, we recorded non-cash additions to our operating lease ROU assets of $58.4 million and $15.2 million, respectively.

(b)Our finance lease ROU assets are included in property and equipment, net, on our condensed consolidated balance sheets. At June 30, 2026, the weighted average remaining lease term for finance leases was 8.8 years and the weighted average discount rate was 7.9%.

(c)The current portions of our operating lease liabilities are included in other accrued and current liabilities on our condensed consolidated balance sheets.

(d)The current and long-term portions of our finance lease liabilities are included in current portion of debt and finance lease obligations and long-term debt and finance lease obligations, respectively, on our condensed consolidated balance sheets.

Schedule of Lease Expense and Cash Outflows from Operating and Finance Leases

A summary of our aggregate lease expense is set forth below:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

Finance lease expense:
Depreciation and amortization	$	1.6	$	1.4	$	3.4	$	3.4
Interest expense	0.7		0.6		1.3		1.4
Total finance lease expense	2.3		2.0		4.7		4.8
Operating lease expense (a)	30.4		28.1		62.5		56.3
Short-term lease expense (a)	—		0.1		0.1		0.2
Variable lease expense (b)	0.4		0.4		0.8		0.8
Total lease expense	$	33.1	$	30.6	$	68.1	$	62.1

_______________

(a)Our operating lease expense and short-term lease expense are included in programming and other direct costs of services, other operating expenses, SG&A expenses and impairment, restructuring and other operating items, net, in our condensed consolidated statements of operations.

(b)Variable lease expense represents payments made to a lessor during the lease term that vary due to changes in circumstances that occur after the lease commencement date. Variable lease payments are expensed as incurred and are included in other operating expenses in our condensed consolidated statements of operations.

A summary of our cash outflows from operating and finance leases is set forth below:




	Six months ended June 30,
	2026		2025
	in millions

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	44.4	$	39.3
Operating cash outflows from finance leases (interest component)	1.3		1.4
Financing cash outflows from finance leases (principal component)	3.7		2.8
Total cash outflows from operating and finance leases	$	49.4	$	43.5

Schedule of Maturities of Operating Lease Liabilities

Maturities of our operating and finance lease liabilities as of June 30, 2026 are presented below. Amounts represent U.S. dollar equivalents based on June 30, 2026 exchange rates.


	Operating leases (a)		Finance leases
	in millions

Year ending December 31:
2026 (remainder of year)	$	62.2	$	4.5
2027	112.5		7.9
2028	106.2		5.0
2029	98.1		3.5
2030	93.6		2.1
2031	87.4		1.7
Thereafter	522.7		12.9
Total payments	1,082.7		37.6
Less: present value discount	(269.9)		(9.0)
Present value of lease payments	$	812.8	$	28.6
Current portion	$	89.0	$	6.0
Long-term portion	$	723.8	$	22.6

______________

(a)Operating lease payments exclude $224.8 million of estimated future payments for lease commitments not yet commenced at Telenet. These payments relate to (i) the lease of the new corporate headquarters commencing in 2031 and (ii) the lease back of build-to-suit sites on certain passive infrastructure and tower assets sold to DigitalBridge Investments LLC in 2022, the majority of which are not anticipated to be due until after 2028. Telenet will act as an agent over the construction of future towers on the build-to-suit sites.

Schedule of Maturities of Financing Lease Liabilities

Maturities of our operating and finance lease liabilities as of June 30, 2026 are presented below. Amounts represent U.S. dollar equivalents based on June 30, 2026 exchange rates.


	Operating leases (a)		Finance leases
	in millions

Year ending December 31:
2026 (remainder of year)	$	62.2	$	4.5
2027	112.5		7.9
2028	106.2		5.0
2029	98.1		3.5
2030	93.6		2.1
2031	87.4		1.7
Thereafter	522.7		12.9
Total payments	1,082.7		37.6
Less: present value discount	(269.9)		(9.0)
Present value of lease payments	$	812.8	$	28.6
Current portion	$	89.0	$	6.0
Long-term portion	$	723.8	$	22.6

______________

Acquisitions and Dispositions	6 Months Ended
Acquisitions and Dispositions	Jun. 30, 2026
Acquisitions and Dispositions [Abstract]
Acquisitions and Dispositions	Acquisitions and Dispositions Pending Acquisition On February 18, 2026, Liberty Global entered into a sale and purchase agreement with Vodafone to acquire its 50% interest in the VodafoneZiggo JV for consideration of (i) €1.0 billion ($1.1 billion) in cash and (ii) a 10% equity interest in a new Benelux holding company, which will hold Liberty Global’s interests in VodafoneZiggo and Telenet. At closing, the existing shareholders’ agreement governing the VodafoneZiggo JV will be terminated and replaced with a new shareholders’ agreement, and certain agreements, including new and continuing service agreements, between VodafoneZiggo, Vodafone and Liberty Global will be put in place. The transaction is expected to close no later than July 31, 2026. Disposition On April 30, 2026, we completed the sale of our operations in Slovakia (UPC Slovakia) to O2 Slovakia s.r.o., an affiliate of e& PPF Telecom Group B.V. After considering working capital adjustments (including cash disposed), we received net cash proceeds of €94.4 million ($110.7 million at the transaction date). In our segment presentation, UPC Slovakia is included in our “all other category.” Effective with the signing of the share purchase agreement on December 18, 2025, we began accounting for UPC Slovakia as held for sale. Accordingly, we ceased to depreciate or amortize the long-lived assets of UPC Slovakia. However, we have not presented UPC Slovakia as a discontinued operation as this transaction did not represent a strategic shift that will have a major effect on our financial results or operations. As of December 31, 2025, the held-for-sale assets and liabilities of UPC Slovakia totaled $122.5 million and $18.2 million, respectively, and were included in other current assets and other accrued and current liabilities, respectively, on our consolidated balance sheet. In connection with the held for sale classification and subsequent remeasurement, we recognized an impairment charge of $0.8 million prior to the closing of this transaction to reduce the carrying value of the UPC Slovakia disposal group to its fair value less costs to sell. Upon completion of the sale on April 30, 2026, we reclassified $3.8 million of accumulated foreign currency translation losses previously recognized in accumulated other comprehensive income (loss) into earnings. The impairment charge and the reclassification of accumulated translation adjustments are both included in impairment, restructuring, and other operating items, net, in our condensed consolidated statement of operations. As part of the transaction, we have agreed to provide certain transitional services for a period of up to 42 months from the closing of the transaction. These services principally comprise network and information technology-related functions. The annual charges will depend on the actual level of services required by the purchaser. During the three months ended June 30, 2026, we recorded revenue of $0.8 million associated with these transitional services. Liberty Global will also allow the use of the “UPC” brand for a transitional period of up to three years as part of the transaction.

Leases (Maturities of Operating and Financing Lease Liabilities) (Details) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Operating leases
2026 (remainder of year)	$ 62.2
2027	112.5
2028	106.2
2029	98.1
2030	93.6
2031	87.4
Thereafter	522.7
Total payments	1,082.7
Less: present value discount	(269.9)
Present value of lease payments	812.8	$ 828.5
Current portion	89.0
Long-term portion	723.8	739.7
Finance leases
2026 (remainder of year)	4.5
2027	7.9
2028	5.0
2029	3.5
2030	2.1
2031	1.7
Thereafter	12.9
Total payments	37.6
Less: present value discount	(9.0)
Present value of lease payments	28.6	$ 33.1
Current portion	6.0
Long-term portion	22.6
Unrecorded Unconditional Purchase Obligation [Line Items]
Operating lease payments	3,156.2
Telenet
Unrecorded Unconditional Purchase Obligation [Line Items]
Operating lease payments	$ 224.8

Fair Value Measurements (Assets and Liabilities Reconciliation) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2026 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance of Level 3 investments at January 1, 2026	$ 1,353.3
Gains included in net earnings
Realized and unrealized gains due to changes in fair values of certain investments, net	160.5
Additions	24.3
Dispositions	(677.9)
Foreign currency translation adjustments and other, net	(27.8)
Balance of net assets at March 31, 2024	832.4
Instruments accounted for under measurement alternative
Gains included in net earnings
Balance of net assets at March 31, 2024	$ 369.5

Share-based Compensation (Share-Based Compensation Expense) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 43.9	$ 49.4	$ 81.0	$ 82.8
Percent of annual incentive compensation receivable in shares	100.00%		100.00%
Income Statement Location [Axis]: us-gaap:OtherCostAndExpenseOperating
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 3.6	3.5	$ 6.8	6.4
Income Statement Location [Axis]: us-gaap:SellingGeneralAndAdministrativeExpense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	40.3	45.9	74.2	76.4
Liberty Global
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	39.6	45.5	74.7	78.9
Non-performance based incentive awards \| Liberty Global
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	16.6	21.3	38.4	43.1
Performance-based incentive awards \| Liberty Global
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	18.5	15.4	28.8	20.9
Other \| Liberty Global
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	4.5	8.8	7.5	14.9
Other
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 4.3	$ 3.9	$ 6.3	$ 3.9

Long-lived Assets (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Property, Plant, and Equipment [Line Items]
Value added tax, vendor financing arrangement	$ 6.6	$ 4.8
Vendor financing
Property, Plant, and Equipment [Line Items]
Capital-related vendor financing additions, before VAT	$ 36.1	$ 32.1

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Long-lived Assets (Changes in Carrying Amount of Goodwill) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2026 USD ($)
Goodwill [Roll Forward]
Goodwill beginning balance	$ 3,502.8
Acquisitions and related adjustments	2.7
Foreign currency translation adjustments and other	(90.0)
Goodwill ending balance	3,415.5
Telenet
Goodwill [Roll Forward]
Goodwill beginning balance	2,516.5
Acquisitions and related adjustments	0.0
Foreign currency translation adjustments and other	(69.1)
Goodwill ending balance	2,447.4
Wyre
Goodwill [Roll Forward]
Goodwill beginning balance	457.0
Acquisitions and related adjustments	0.0
Foreign currency translation adjustments and other	(12.5)
Goodwill ending balance	444.5
VM Ireland
Goodwill [Roll Forward]
Goodwill beginning balance	284.4
Acquisitions and related adjustments	0.0
Foreign currency translation adjustments and other	(7.8)
Goodwill ending balance	276.6
Other
Goodwill [Roll Forward]
Goodwill beginning balance	244.9
Acquisitions and related adjustments	2.7
Foreign currency translation adjustments and other	(0.6)
Goodwill ending balance	$ 247.0

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

+ Details

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 2,418.6	$ 2,081.4
Trade receivables, net (note 3)	521.2	558.2
Other current assets (notes 3, 4, 5 and 6)	558.2	756.8
Total current assets	3,498.0	3,396.4
Investments and related notes receivable (including $1,054.6 million and $1,631.5 million, respectively, measured at fair value on a recurring basis) (note 5)	6,700.3	7,686.1
Property and equipment, net (notes 8 and 10)	5,422.1	5,270.3
Goodwill (note 8)	3,415.5	3,502.8
Intangible assets subject to amortization, net (note 8)	1,266.8	1,349.4
Other assets, net (notes 3, 6 and 10)	1,229.8	1,390.9
Total assets	21,532.5	22,595.9
Current liabilities:
Accounts payable	443.0	478.7
Deferred revenue (note 3)	247.4	291.9
Current portion of debt and finance lease obligations (notes 9 and 10)	620.4	764.0
Accrued capital expenditures	168.9	158.0
Accrued income taxes	103.9	218.2
Other accrued and current liabilities (notes 4, 6 and 10)	1,158.3	1,248.3
Total current liabilities	2,741.9	3,159.1
Long-term debt and finance lease obligations (notes 9 and 10)	7,729.9	7,830.9
Long-term operating lease liabilities (note 10)	723.8	739.7
Other long-term liabilities (notes 3 and 6)	874.5	920.4
Total liabilities	12,070.1	12,650.1
Commitments and contingencies (notes 6, 9, 10, 11 and 14)
Liberty Global shareholders:
Additional paid-in capital	805.1	712.4
Accumulated earnings	5,077.2	5,104.5
Accumulated other comprehensive earnings, net of taxes	3,339.1	3,915.6
Treasury shares, at cost	(0.1)	(0.1)
Total Liberty Global shareholders	9,224.6	9,735.7
Noncontrolling interests	237.8	210.1
Total equity	9,462.4	9,945.8
Total liabilities and equity	21,532.5	22,595.9
Class A
Liberty Global shareholders:
Common stock	1.7	1.7
Class B
Liberty Global shareholders:
Common stock	0.1	0.1
Class C
Liberty Global shareholders:
Common stock	$ 1.5	$ 1.5

Debt (Component of Debt-Footnotes) (Details) € in Millions, $ in Millions	Jun. 30, 2026 USD ($)	Jun. 30, 2026 EUR (€)	Feb. 28, 2026 USD ($)	Feb. 28, 2026 EUR (€)	Jan. 31, 2026 USD ($)	Jan. 31, 2026 EUR (€)	Dec. 31, 2025 USD ($)
Debt Instrument [Line Items]
Weighted average interest rate	5.14%	5.14%
Unused borrowing capacity, amount	$ 827.5
Deferred liabilities	400.7						$ 423.4
Carrying amount	8,343.1						8,584.8
Long-term Debt
Debt Instrument [Line Items]
Estimated fair value	8,300.0						8,600.0
Trade accounts receivable
Debt Instrument [Line Items]
Secured debt	$ 204.4						228.4
Aggregate Variable and Fixed Rate Indebtedness
Debt Instrument [Line Items]
Weighted average interest rate	3.81%	3.81%
Telenet Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate	5.27%	5.27%
Carrying amount	$ 4,577.8						4,748.0
Telenet Credit Facility \| Sunrise Holding Revolving Facility
Debt Instrument [Line Items]
Unused borrowing capacity, amount	713.4	€ 625.0
Telenet Revolving Facility I
Debt Instrument [Line Items]
Unused borrowing capacity, amount		580.0	$ 627.8	€ 550.0
Telenet Revolving Facility I \| Revolving Credit Facility
Debt Instrument [Line Items]
Borrowings repaid					$ 102.7	€ 90.0
Telenet Revolving Credit Facility B
Debt Instrument [Line Items]
Unused borrowing capacity, amount	662.1
Telenet Overdraft Facility
Debt Instrument [Line Items]
Unused borrowing capacity, amount	28.5	25.0
Telenet Revolving Facility
Debt Instrument [Line Items]
Unused borrowing capacity, amount	$ 22.8	€ 20.0
VM Ireland Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate	5.70%	5.70%
Unused borrowing capacity, amount	$ 114.1	€ 100.0
Carrying amount	1,027.3						1,056.2
VM Ireland Credit Facility \| Sunrise Holding Revolving Facility
Debt Instrument [Line Items]
Unused borrowing capacity, amount	114.1	€ 100.0
Egg Power Capex Facility \| Secured Debt
Debt Instrument [Line Items]
Carrying amount	78.4						19.8
Formula E
Debt Instrument [Line Items]
Secured debt	$ 57.1						$ 58.7

Share-based Compensation (Narrative) (Details) - PSUs	6 Months Ended
Share-based Compensation (Narrative) (Details) - PSUs	Jun. 30, 2026
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of awards that may be banked	50.00%
Share-based compensation arrangement by share-based payment award, cap, percent	75.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price appreciation percent	0.00%
Award recipients earning percent	0.00%
Percentage of stock price trigger	30.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price appreciation percent	80.00%
Award recipients earning percent	200.00%
Percentage of stock price trigger	50.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 1,172.0	$ 1,269.1	$ 2,446.6	$ 2,440.3
Operating costs and expenses (exclusive of depreciation and amortization, shown separately below):
Programming and other direct costs of services (note 10)	375.4	465.3	802.0	868.7
Other operating (notes 10 and 12)	203.3	212.6	423.3	408.6
Selling, general and administrative (SG&A) (notes 10 and 12)	312.3	305.3	610.9	585.9
Depreciation and amortization	262.5	250.8	527.3	483.0
Impairment, restructuring and other operating items, net (note 10)	15.5	5.5	56.3	3.8
Operating costs and expenses	1,169.0	1,239.5	2,419.8	2,350.0
Operating income	3.0	29.6	26.8	90.3
Non-operating income (expense):
Interest expense	(115.9)	(129.5)	(229.6)	(257.0)
Realized and unrealized gains (losses) on derivative instruments, net (note 6)	18.2	(406.0)	150.4	(570.7)
Foreign currency transaction gains (losses), net	(122.6)	(2,089.9)	307.6	(3,170.9)
Realized and unrealized gains due to changes in fair values of certain investments, net (notes 5 and 7)	155.4	55.3	213.2	111.1
Share of results of affiliates, net (note 5)	(289.9)	(264.6)	(311.6)	(412.6)
Other income, net	16.8	32.2	41.8	43.6
Non-operating income (expense)	(338.0)	(2,802.5)	171.8	(4,256.5)
Earnings (loss) before income taxes	(335.0)	(2,772.9)	198.6	(4,166.2)
Income tax benefit (expense) (note 11)	(22.8)	(0.9)	(198.2)	69.1
Net earnings (loss)	(357.8)	(2,773.8)	0.4	(4,097.1)
Net earnings attributable to noncontrolling interests	(7.3)	(19.1)	(27.7)	(33.1)
Net loss attributable to Liberty Global shareholders	$ (365.1)	$ (2,792.9)	$ (27.3)	$ (4,130.2)
Basic loss attributable to Liberty Global shareholders per share (note 13) (in dollars per share)	$ (1.07)	$ (8.09)	$ (0.08)	$ (11.91)

Fair Value Measurements

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Fair Value Measurements

We use the fair value method to account for (i) certain of our investments and (ii) our derivative instruments. The reported fair values of these investments and derivative instruments as of June 30, 2026 are unlikely to represent the value that will be paid or received upon the ultimate settlement or disposition of these assets and liabilities.

GAAP provides for a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. Level 1 inputs are quoted market prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted market prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. We record transfers of assets or liabilities into or out of Levels 1, 2 or 3 at the beginning of the quarter during which the transfer occurred.

We use a Monte Carlo based approach to incorporate a credit risk valuation adjustment in our fair value measurements to estimate the impact of both our own nonperformance risk and the nonperformance risk of our counterparties. Our credit risk valuation adjustments with respect to our cross-currency and interest rate swap contracts are quantified and further explained in note 6.

Fair value measurements are also used for nonrecurring valuations performed in connection with acquisition accounting and impairment assessments. These nonrecurring valuations include the valuation of reporting units, customer relationships and other intangible assets (including franchise and licensing rights), property and equipment and goodwill. The valuation of reporting units is based on an income-based approach (discounted cash flows) using assumptions in our long-range business plans or a market-based approach (current multiples of comparable public companies and guideline transactions) and, in some cases, a combination of an income-based approach and a market-based approach. With the exception of certain inputs for our weighted average cost of capital and discount rate calculations that are derived from pricing services, the inputs used in our discounted cash flow analyses, such as forecasts of future cash flows, including inputs with respect to revenue growth and Adjusted EBITDA margin (as defined in note 15), and terminal growth rates, are based on our assumptions. The valuation of customer relationships is primarily based on an excess earnings methodology, which is a form of a discounted cash flow analysis. The excess earnings methodology requires us to estimate the specific cash flows expected from the customer relationship, considering such factors as estimated customer life, the revenue expected to be generated over the life of the customer relationship, contributory asset charges and other factors. Tangible assets are typically valued using a replacement or reproduction cost approach, considering factors such as current prices of the same or similar equipment, the age of the equipment and economic obsolescence. Goodwill is determined by allocating the fair value of a reporting unit to all of the assets and liabilities of that unit as if the reporting unit had been acquired in a business combination, with the residual amount allocated to goodwill. Most of our nonrecurring valuations use significant unobservable inputs and therefore fall under Level 3 of the fair value hierarchy. During the six months ended June 30, 2026 and 2025, we did not perform any significant nonrecurring fair value measurements.

For additional information concerning our fair value measurements, see note 9 to the consolidated financial statements included in our 2025 10-K.

A summary of our assets and liabilities that are measured at fair value on a recurring basis is as follows:


			Fair value measurements at June 30, 2026 using:
Description	June 30, 2026		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	in millions

Assets:
Derivative instruments:
Cross-currency and interest rate derivative contracts	$	257.0	$	—	$	257.0	$	—

Foreign currency forward and option contracts	2.8		—		2.8		—
Other	13.4		—		13.4		—
Total derivative instruments	273.2		—		273.2		—



Investments	1,054.6		222.1		0.1		832.4
Total assets	$	1,327.8	$	222.1	$	273.3	$	832.4

Liabilities:
Derivative instruments:
Cross-currency and interest rate derivative contracts	$	168.6	$	—	$	168.6	$	—

Foreign currency forward and option contracts	1.7		—		1.7		—
Other	11.8		—		11.8		—


Total liabilities	$	182.1	$	—	$	182.1	$	—


			Fair value measurements at December 31, 2025 using:
Description	December 31, 2025		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	in millions

Assets:
Derivative instruments:
Cross-currency and interest rate derivative contracts	$	240.9	$	—	$	240.9	$	—

Foreign currency forward and option contracts	0.1		—		0.1		—
Other	7.8		—		7.8		—
Total derivative instruments	248.8		—		248.8		—
Investments:
SMAs	76.2		—		76.2		—
Other investments	1,631.5		278.1		0.1		1,353.3
Total investments	1,707.7		278.1		76.3		1,353.3
Total assets	$	1,956.5	$	278.1	$	325.1	$	1,353.3

Liabilities:
Derivative instruments:
Cross-currency and interest rate derivative contracts	$	248.2	$	—	$	248.2	$	—

Foreign currency forward and option contracts	2.8		—		2.8		—
Other	8.7		—		8.7		—


Total liabilities	$	259.7	$	—	$	259.7	$	—

A reconciliation of the beginning and ending balances of our investments measured at fair value on a recurring basis using significant unobservable, or Level 3, inputs is as follows (in millions):





Balance of Level 3 investments at January 1, 2026	$	1,353.3
Gains included in net earnings (a):

Realized and unrealized gains due to changes in fair values of certain investments, net	160.5


Additions	24.3
Dispositions	(677.9)

Foreign currency translation adjustments and other, net	(27.8)
Balance of Level 3 investments at June 30, 2026 (b)	$	832.4

_______________

(a)Amounts primarily relate to Level 3 investments that we continue to carry on our condensed consolidated balance sheet as of June 30, 2026.

(b)As of June 30, 2026, $369.5 million of our Level 3 investments were accounted for under the measurement alternative at cost less impairment, adjusted for observable price changes.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Segment Reporting (Performance Measures) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Segment Reporting [Line Items]
Total consolidated revenue	$ 1,172.0	$ 1,269.1	$ 2,446.6	$ 2,440.3
VMO2 JV And VodafoneZiggo JV
Segment Reporting [Line Items]
Total consolidated revenue	(4,354.0)	(4,496.8)	(8,724.9)	(8,675.1)
Operating Segments
Segment Reporting [Line Items]
Total consolidated revenue	5,227.8	5,420.5	10,502.1	10,474.3
Operating Segments \| VMO2 JV (nonconsolidated)
Segment Reporting [Line Items]
Total consolidated revenue	3,220.3	3,373.5	6,442.7	6,499.8
Operating Segments \| VodafoneZiggo JV (nonconsolidated)
Segment Reporting [Line Items]
Total consolidated revenue	1,133.7	1,123.3	2,282.2	2,175.3
Operating Segments \| Telenet
Segment Reporting [Line Items]
Total consolidated revenue	716.9	770.2	1,459.5	1,501.7
Operating Segments \| Wyre
Segment Reporting [Line Items]
Total consolidated revenue	34.5	30.7	68.3	58.9
Operating Segments \| VM Ireland
Segment Reporting [Line Items]
Total consolidated revenue	122.4	122.8	249.4	238.6
Intersegment
Segment Reporting [Line Items]
Total consolidated revenue	199.5	179.2	381.4	343.5
Intersegment \| Telenet
Segment Reporting [Line Items]
Total consolidated revenue	36.2	14.9	53.0	26.6
Intersegment \| Wyre
Segment Reporting [Line Items]
Total consolidated revenue	163.3	164.3	328.4	316.9
Total reportable segment revenue
Segment Reporting [Line Items]
Total consolidated revenue	5,427.3	5,599.7	10,883.5	10,817.8
Total reportable segment revenue \| VMO2 JV (nonconsolidated)
Segment Reporting [Line Items]
Total consolidated revenue	3,220.3	3,373.5	6,442.7	6,499.8
Total reportable segment revenue \| VodafoneZiggo JV (nonconsolidated)
Segment Reporting [Line Items]
Total consolidated revenue	1,133.7	1,123.3	2,282.2	2,175.3
Total reportable segment revenue \| Telenet
Segment Reporting [Line Items]
Total consolidated revenue	753.1	785.1	1,512.5	1,528.3
Total reportable segment revenue \| Wyre
Segment Reporting [Line Items]
Total consolidated revenue	197.8	195.0	396.7	375.8
Total reportable segment revenue \| VM Ireland
Segment Reporting [Line Items]
Total consolidated revenue	122.4	122.8	249.4	238.6
Central and other
Segment Reporting [Line Items]
Total consolidated revenue	343.5	387.5	760.3	722.2
Elimination of intercompany
Segment Reporting [Line Items]
Total consolidated revenue	$ (244.8)	$ (221.3)	$ (472.3)	$ (424.6)

Segment Reporting (Revenue by Major Category) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Principal Transaction Revenue [Line Items]
Total	$ 1,172.0	$ 1,269.1	$ 2,446.6	$ 2,440.3
Total residential fixed revenue
Principal Transaction Revenue [Line Items]
Total	423.5	443.8	872.2	855.7
Total subscription revenue
Principal Transaction Revenue [Line Items]
Total	415.5	439.2	856.1	846.0
Broadband internet
Principal Transaction Revenue [Line Items]
Total	248.5	238.3	496.9	456.7
Video
Principal Transaction Revenue [Line Items]
Total	131.8	153.7	279.1	297.8
Fixed-line telephony
Principal Transaction Revenue [Line Items]
Total	35.2	47.2	80.1	91.5
Non-subscription revenue
Principal Transaction Revenue [Line Items]
Total	8.0	4.6	16.1	9.7
Total residential revenue
Principal Transaction Revenue [Line Items]
Total	588.7	606.4	1,208.9	1,170.2
Total residential mobile revenue
Principal Transaction Revenue [Line Items]
Total	165.2	162.6	336.7	314.5
Subscription revenue
Principal Transaction Revenue [Line Items]
Total	130.6	125.0	259.1	240.7
Non-subscription revenue
Principal Transaction Revenue [Line Items]
Total	34.6	37.6	77.6	73.8
Total B2B revenue
Principal Transaction Revenue [Line Items]
Total	232.0	225.9	464.8	432.9
Subscription revenue
Principal Transaction Revenue [Line Items]
Total	113.5	112.5	227.4	216.3
Non-subscription revenue
Principal Transaction Revenue [Line Items]
Total	118.5	113.4	237.4	216.6
Other revenue
Principal Transaction Revenue [Line Items]
Total	$ 351.3	$ 436.8	$ 772.9	$ 837.2

Investments

6 Months Ended

Jun. 30, 2026

Investments [Abstract]

Investments

The details of our investments are set forth below:


Accounting Method	June 30, 2026		December 31, 2025		Ownership (a)
	in millions				%
Equity (b):
Long-term:
VMO2 JV	$	3,481.1	$	3,756.7	50.0
VodafoneZiggo JV (c)	1,623.8		1,738.6		50.0
AE Group Sàrl (AtlasEdge JV) (d)	360.2		388.4		48.8
Nexfibre Networks Limited (nexfibre JV) (e)	70.8		88.3		25.0
Other	109.8		82.6
Total — equity	5,645.7		6,054.6
Fair value:
Short-term:
Separately-managed accounts (SMAs) (f)	—		76.2
Long-term:
Televisa Univision, Inc. (Televisa Univision)	299.4		299.5		6.5
Lionsgate Studios Corp. (Lionsgate)	107.8		64.2		2.4
ITV plc (ITV) (g)	100.7		208.4		2.5
CANAL+ Polska S.A	78.0		81.8		17.0

Plume Design, Inc. (Plume) (h)	57.3		64.1		10.2

EdgeConneX, Inc. (EdgeConneX) (i)	—		528.3
Other	411.4		385.2
Total — fair value	1,054.6		1,707.7
Total investments (j)	$	6,700.3	$	7,762.3
Short-term investments	$	—	$	76.2
Long-term investments	$	6,700.3	$	7,686.1

_______________

(a)Represents our economic ownership based on total shares owned as a percentage of total shares outstanding as of the most recent balance sheet date or the most recent publicly-available information.

(b)Our equity method investments are originally recorded at cost and are adjusted to recognize our share of net earnings or losses of the affiliates as they occur rather than as dividend distributions are received, with our recognition of losses generally limited to the extent of our investment in, and loans and commitments to, the investee. Accordingly, the carrying values of our equity method investments may not equal their respective fair values. At June 30, 2026 and December 31, 2025, the aggregate carrying amounts of our equity method investments exceeded our proportionate share of the respective investee’s net assets by $1,001.9 million and $1,029.2 million, respectively, related to amounts associated with the VodafoneZiggo JV Receivables, as defined below.

(c)Amounts include certain notes receivable due from a subsidiary of the VodafoneZiggo JV to a subsidiary of Liberty Global, comprising (i) a €700.0 million note receivable ($799.0 million and $821.5 million equivalent at June 30, 2026 and December 31, 2025, respectively) (the VodafoneZiggo JV Receivable I) and (ii) a €207.9 million note receivable ($237.3 million and $244.0 million equivalent at June 30, 2026 and December 31, 2025, respectively) (the VodafoneZiggo JV Receivable II and, together with the VodafoneZiggo JV Receivable I, the VodafoneZiggo JV Receivables). The VodafoneZiggo JV Receivables bear interest at a rate of 5.55% and have a final maturity date of December 31, 2030. During the six months ended June 30, 2026, interest accrued on the VodafoneZiggo JV Receivables was €25.9 million ($29.6 million), all of which has been cash settled.

(d)Liberty Global owns a 50% noncontrolling voting interest in the AtlasEdge JV.

(e)Liberty Global owns a 25% noncontrolling voting interest in the nexfibre JV.

(f)Represents investments held under SMAs, which were maintained by investment managers acting as agents on our behalf. With the exception of our SMA invested in a leveraged structured note, all investments held under SMAs were sold as of the first quarter of 2025. During the first quarter of 2026, we redeemed $36.6 million of the leveraged structured note. During the second quarter of 2026, we redeemed the remaining leveraged structured note balance and received cash proceeds of $46.3 million. The SMA balance at December 31, 2025 is included in other current assets on our condensed consolidated balance sheet.

(g)During the first quarter of 2026, we disposed of approximately one-half of our interest in ITV for aggregate cash proceeds of approximately £76.1 million ($101.8 million).

(h)Our investment in Plume includes warrants with a fair value of $18.4 million and $21.1 million at June 30, 2026 and December 31, 2025, respectively.

(i)During the first quarter of 2026, we disposed of approximately 16% of our interest in EdgeConneX for aggregate cash proceeds of $73.6 million. On June 29, 2026, we completed the sale of our remaining interest in EdgeConneX for aggregate cash proceeds of $604.2 million.

(j)The purchase and sale of investments are presented on a gross basis in our condensed consolidated statements of cash flows, including amounts associated with SMAs.

Equity Method Investments

The following table sets forth the details of our share of results of affiliates, net:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

VMO2 JV (a)	$	(208.0)	$	(161.1)	$	(224.6)	$	(247.7)
VodafoneZiggo JV (b)	(45.7)		(48.1)		(38.9)		(70.7)
nexfibre JV	(22.3)		(29.6)		(27.4)		(42.2)
AtlasEdge JV	(12.5)		(18.5)		(18.1)		(34.5)
Other, net	(1.4)		(7.3)		(2.6)		(17.5)
Total	$	(289.9)	$	(264.6)	$	(311.6)	$	(412.6)

_______________

(a)Represents our share of the results of operations of the VMO2 JV.

(b)Represents (i) our share of the results of operations of the VodafoneZiggo JV and (ii) 100% of the interest income earned on the VodafoneZiggo JV Receivables.

VMO2 JV

Pursuant to an agreement (the U.K. JV Framework Agreement), Liberty Global provides certain services to the VMO2 JV on a transitional or ongoing basis (collectively, the U.K. JV Services). The agreements underlying the U.K. JV Services expire in 2030. The U.K. JV Services provided by Liberty Global consist primarily of (i) technology and other services and (ii) capital-related expenditures for assets that will be used by, or will otherwise benefit, the VMO2 JV. Liberty Global charges both fixed and variable fees to the VMO2 JV for the U.K. JV Services provided pursuant to the U.K. JV Framework Agreement. At June 30, 2026 and December 31, 2025, $65.8 million and $79.3 million, respectively, was due from the VMO2 JV related to the aforementioned transactions. The amounts due from the VMO2 JV, which are periodically cash settled, are included in other current assets on our condensed consolidated balance sheets.

The following table sets forth a summary of revenue recorded from the VMO2 JV:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

Fixed fee	$	58.0	$	56.7	$	117.3	$	110.8
Variable charges (a)	73.9		38.8		107.8		73.2
Total revenue	$	131.9	$	95.5	$	225.1	$	184.0

_______________

(a)Amounts primarily include the sale of customer premises equipment (CPE) at a mark-up.

The summarized results of operations of the VMO2 JV are set forth below:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

Revenue	$	3,220.3	$	3,373.5	$	6,442.7	$	6,499.8
Loss before income taxes	$	(530.7)	$	(403.9)	$	(569.7)	$	(616.1)
Net loss	$	(410.8)	$	(308.9)	$	(438.4)	$	(474.7)

VodafoneZiggo JV

Pursuant to an agreement (the NL JV Framework Agreement), Liberty Global provides certain services to the VodafoneZiggo JV (collectively, the NL JV Services). The NL JV Services provided by Liberty Global consist primarily of (i) technology and other services and (ii) capital-related expenditures for assets that will be used by, or will otherwise benefit, the VodafoneZiggo JV. Liberty Global charges both fixed and usage-based fees to the VodafoneZiggo JV for the NL JV Services provided pursuant to the NL JV Framework Agreement. We recorded revenue from the VodafoneZiggo JV of $56.7 million and $48.2 million during the three months ended June 30, 2026 and 2025, respectively, and $110.7 million and $94.3 million during the six months ended June 30, 2026 and 2025, respectively, primarily related to (a) the NL JV Services and (b) the sale of CPE to the VodafoneZiggo JV at a mark-up. At June 30, 2026 and December 31, 2025, $40.8 million and $42.7 million, respectively, was due from the VodafoneZiggo JV related to the aforementioned transactions. The amounts due from the VodafoneZiggo JV, which are periodically cash settled, are included in other current assets on our condensed consolidated balance sheets.

The summarized results of operations of the VodafoneZiggo JV are set forth below:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

Revenue	$	1,133.7	$	1,123.3	$	2,282.2	$	2,175.3
Loss before income taxes	$	(165.5)	$	(157.6)	$	(162.3)	$	(246.6)
Net loss	$	(122.6)	$	(119.9)	$	(139.3)	$	(190.4)

Fair Value Investments

The following table sets forth the details of our realized and unrealized gains due to changes in fair values of certain investments, net:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

EdgeConneX (a)	$	95.3	$	14.9	$	154.2	$	3.6
Lionsgate (b)	40.4		(9.5)		43.6		(7.3)
Televisa Univision	2.8		(27.6)		7.8		(41.6)
Plume	(5.6)		(9.7)		(6.8)		(13.0)
ITV	7.3		43.1		(6.1)		79.8
Vodafone (c)	—		57.9		—		121.6
Other, net	15.2		(13.8)		20.5		(32.0)
Total	$	155.4	$	55.3	$	213.2	$	111.1

_______________

(a)We completed the sale of our investment in EdgeConneX during the second quarter of 2026.

(b)During the second quarter of 2025, Lions Gate Entertainment Corp. (NYSE: LGF.A and LGF.B) completed the full separation (the Lionsgate Separation) of its studio and network business into two independent, publicly traded companies, Lionsgate and Starz Entertainment Corp. (Starz). All previous Lions Gate Entertainment Corp. shares have been exchanged for shares in the new companies Lionsgate (NASDAQ: LION) and Starz (NASDAQ: STRZ). Following the separation, our investment in Starz is reflected in ‘Other’ fair value investments in the above table.

(c)We completed the sale of our investment in Vodafone during the third quarter of 2025.

Commitments and Contingencies

6 Months Ended

Jun. 30, 2026

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments

In the normal course of business, we enter into agreements that commit our company to make cash payments in future periods with respect to purchases of equipment and services, programming contracts, network and connectivity commitments and other items. The following table sets forth the U.S. dollar equivalents of such commitments as of June 30, 2026. The commitments included in this table do not reflect any liabilities that are included on our June 30, 2026 condensed consolidated balance sheet.


	Payments due during:
	Remainder of 2026
			2027		2028		2029		2030		2031		Thereafter		Total
	in millions

Purchase commitments	$	525.2	$	642.7	$	580.2	$	117.0	$	36.5	$	3.8	$	18.4	$	1,923.8
Programming commitments	89.8		115.5		84.4		69.5		44.5		—		—		403.7
Network and connectivity commitments	25.7		31.7		44.9		56.2		53.8		0.1		—		212.4
Other commitments	87.3		134.4		139.4		134.0		116.0		2.4		2.8		616.3
Total	$	728.0	$	924.3	$	848.9	$	376.7	$	250.8	$	6.3	$	21.2	$	3,156.2

Purchase commitments include unconditional and legally binding obligations related to certain service-related commitments, including software development, information technology and maintenance services.

Programming commitments consist of obligations associated with certain of our programming, studio output and sports rights contracts that are enforceable and legally binding on us as we have agreed to pay minimum fees without regard to (i) the actual number of subscribers to the programming services, (ii) whether we terminate service to a portion of our subscribers or dispose of a portion of our distribution systems or (iii) whether we discontinue our premium sports services. Programming commitments do not include increases in future periods associated with contractual inflation or other price adjustments that are not fixed. Accordingly, the amounts reflected in the above table with respect to these contracts are significantly less than the amounts we expect to pay in these periods under these contracts. Historically, payments to programming vendors have represented a significant portion of our operating costs, and we expect this will continue to be the case in future periods. In this regard, our total programming and copyright costs aggregated $196.0 million and $299.9 million during the six months ended June 30, 2026 and 2025, respectively.

Network and connectivity commitments include certain equipment and service-related commitments.

Other commitments include (i) race management commitments associated with Formula E and (ii) our share of the funding commitment associated with the nexfibre JV.

In addition to the commitments set forth in the table above, we have significant commitments under (i) derivative instruments and (ii) defined benefit plans and similar agreements, pursuant to which we expect to make payments in future periods. For information regarding our derivative instruments, including the net cash paid or received in connection with these instruments, see note 6.

We also have commitments pursuant to agreements with, and obligations imposed by, franchise authorities and municipalities, which may include obligations in certain markets to move aerial cable to underground ducts or to upgrade, rebuild or extend portions of our broadband communication systems. Such amounts are not included in the above table because they are not fixed or determinable.

Furthermore, in connection with a future sale of our interest in, or an initial public offering of, Formula E, we have agreed to pay a third party a portion of our economic gain. We estimate that this contingent obligation is not currently significant.

Guarantees and Other Credit Enhancements

In the ordinary course of business, we may provide (i) indemnifications to our lenders, our vendors and certain other parties and (ii) performance and/or financial guarantees to local municipalities, our customers and vendors. Historically, these arrangements have not resulted in our company making any material payments, and we do not believe that they will result in material payments in the future.

Legal and Regulatory Proceedings and Other Contingencies

Interkabel Acquisition. On November 26, 2007, Telenet and four associations of municipalities in Belgium, which we refer to as the pure intercommunales or the “PICs,” announced a non-binding agreement-in-principle to transfer the analog and digital television activities of the PICs, including all existing subscribers, to Telenet. Subsequently, Telenet and the PICs entered into a binding agreement (the 2008 PICs Agreement), which closed effective October 1, 2008. Beginning in December 2007, Proximus NV/SA (Proximus), the incumbent telecommunications operator in Belgium, instituted several proceedings seeking to block implementation of these agreements. Proximus lodged summary proceedings with the President of the Court of First Instance of Antwerp to obtain a provisional injunction preventing the PICs from effecting the agreement-in-principle and initiated a civil procedure on the merits claiming the annulment of the agreement-in-principle. In March 2008, the President of the Court of First Instance of Antwerp ruled in favor of Proximus in the summary proceedings, which ruling was overturned by the Court of Appeal of Antwerp in June 2008. Proximus brought this appeal judgment before the Belgian Supreme Court, which confirmed the appeal judgment in September 2010. On April 6, 2009, the Court of First Instance of Antwerp ruled in favor of the PICs and Telenet in the civil procedure on the merits, dismissing Proximus’ request for the rescission of the agreement-in-principle and the 2008 PICs Agreement. On June 12, 2009, Proximus appealed this judgment to the Court of Appeal of Antwerp. In this appeal, Proximus also sought compensation for damages. While these proceedings were suspended indefinitely, other proceedings were initiated, which resulted in a ruling by the Belgian Council of State in May 2014 annulling (i) the decision of the PICs not to organize a public market consultation and (ii) the decision from the PICs’ board of directors to approve the 2008 PICs Agreement. In December 2015, Proximus resumed the civil proceedings pending with the Court of Appeal of Antwerp seeking to have the 2008 PICs Agreement annulled and claiming damages of €1.4 billion ($1.6 billion). On December 18, 2017, the Court of Appeal of Antwerp rejected Proximus’ claim in its entirety. On June 28, 2019, Proximus brought this appeal judgment before the Belgian Supreme Court. On January 22, 2021, the Belgian Supreme Court partially annulled the judgment of the Court of Appeal of Antwerp. The case was referred to the Court of Appeal of Brussels and is currently pending with this Court which will need to make a new decision on the matter within the boundaries of the annulment by the Belgian Supreme Court.

No assurance can be given as to the outcome of these or other proceedings. However, an unfavorable outcome of existing or future proceedings could potentially lead to the annulment of the 2008 PICs Agreement. We do not expect the ultimate resolution of this matter to have a material impact on our results of operations, cash flows or financial position. No amounts have been accrued by us with respect to this matter as the likelihood of loss is not considered to be probable.

Telekom Deutschland Litigation. On December 28, 2012, Unitymedia filed a lawsuit against Telekom Deutschland GmbH (Telekom Deutschland) in which Unitymedia asserted that it pays excessive prices for the co-use of Telekom Deutschland’s cable ducts in Unitymedia’s footprint. The Federal Network Agency approved rates for the co-use of certain ducts of Telekom Deutschland in March 2011. Based in part on these approved rates, Unitymedia sought a reduction of the annual lease fees by approximately five-sixths. In addition, Unitymedia sought the return of similarly calculated overpayments from 2009 through the ultimate settlement date, plus accrued interest. In October 2016, the first instance court dismissed this action, and in March 2018, the court of appeal dismissed Unitymedia’s appeal of the first instance court’s decision. Unitymedia has since successfully appealed the case to the Federal Court of Justice, and proceedings continue before the German courts. The resolution of this matter may take several years and no assurance can be given that Unitymedia’s claims will be successful. In connection with our sale of our former operations in Germany, Romania, Hungary and the Czech Republic to Vodafone (the Vodafone Disposal Group) in 2019, we will only share in 50% of any amounts recovered, plus 50% of the net present value of certain cost savings in future periods that are attributable to the favorable resolution of this matter, less 50% of associated legal or other third-party fees paid post-completion of the sale of the Vodafone Disposal Group. Any amount we may recover related to this matter will not be reflected in our consolidated financial statements until such time as the final disposition of this matter has been reached.

Other Contingency Matters. In connection with the dispositions of certain of our operations, we provided tax indemnities to the counterparties for certain tax liabilities that could arise from the period we owned the respective operations, the amounts of which could be significant, subject to certain thresholds. No amounts have been accrued by our company related to unasserted claims for indemnification, as the likelihood of any loss is not considered to be probable. Further, Liberty Global may be entitled to certain amounts that our disposed operations may recover from taxing authorities. Any such amounts will not be reflected in our consolidated financial statements until such time as the final disposition of such matters has been reached.

Other Regulatory Matters. Broadband internet, video distribution, fixed-line telephony, mobile and content businesses are regulated in each of the countries in which we or our affiliates operate. The scope of regulation varies from country to country, although in some significant respects regulation in European markets is harmonized under the regulatory structure of the European Union (E.U.), and largely similar rules apply in the U.K. Adverse regulatory developments could subject our businesses to a number of risks. Regulation, including conditions imposed on us by competition or other authorities as a requirement to close acquisitions or dispositions, could limit growth, revenue and the number and types of services offered and could lead to increased operating costs and property and equipment additions. Regulation may also restrict our operations and subject them to further competitive pressure, including pricing restrictions, interconnect and other access obligations, and restrictions or controls on content, including content provided by third parties. Failure to comply with current or future regulation could expose our businesses to various penalties.

In addition to the foregoing items, we have contingent liabilities related to matters arising in the ordinary course of business, including (i) legal proceedings, (ii) issues involving VAT and wage, property, withholding and other tax issues and (iii) disputes over interconnection, programming, copyright and channel carriage fees. While we generally expect that the amounts required to satisfy these contingencies will not materially differ from any estimated amounts we have accrued, no assurance can be given that the resolution of one or more of these contingencies will not result in a material impact on our results of operations, cash flows or financial position in any given period. Due, in general, to the complexity of the issues involved and, in certain cases, the lack of a clear basis for predicting outcomes, we cannot provide a meaningful range of potential losses or cash outflows that might result from any unfavorable outcomes.

Debt (Vendor Financing Obligations) (Details) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025	Jun. 30, 2025	Dec. 31, 2024
Debt Instrument [Line Items]
2026 (remainder of year)	$ 458.1
2027	203.5
Total debt maturities	8,343.1	$ 8,584.8
Total vendor financing maturities
Debt Instrument [Line Items]
2026 (remainder of year)	183.7
2027	155.9
Total debt maturities	339.6
Vendor financing
Debt Instrument [Line Items]
Total debt maturities	339.6	365.9	$ 385.2	$ 355.9
Egg Power Capex Facility \| Secured Debt
Debt Instrument [Line Items]
Total debt maturities	78.4	19.8
Formula E
Debt Instrument [Line Items]
Secured debt	$ 57.1	$ 58.7

Acquisitions and Dispositions (Details) € in Millions, $ in Millions					3 Months Ended	6 Months Ended
	Apr. 30, 2026 USD ($)	Apr. 30, 2026 EUR (€)	Feb. 18, 2026 USD ($)	Feb. 18, 2026 EUR (€)	Jun. 30, 2026 USD ($)	Jun. 30, 2026 USD ($)	Dec. 31, 2025 USD ($)
Disposal group, disposed of by sale, not discontinued operations \| UPC Slovakia
Business Combination [Line Items]
Net cash proceeds	$ 110.7	€ 94.4
Disposed of by sale \| UPC Slovakia
Business Combination [Line Items]
Held-for-sale assets							$ 122.5
Held-for-sale liabilities							$ 18.2
Accumulated foreign currency translation losses	$ 3.8
Disposed of by sale \| O2 slovakia
Business Combination [Line Items]
Term of transitional services	42 months	42 months
Revenue associated with transitional services					$ 0.8
Transitional period for continued brand use	3 years	3 years
Held for sale \| UPC Slovakia
Business Combination [Line Items]
Impairment charge						$ 0.8
VodafoneZiggo JV (nonconsolidated)
Business Combination [Line Items]
Interest acquired (in percent)			50.00%	50.00%
Consideration transferred			$ 1,100.0	€ 1,000.0
VodafoneZiggo JV (nonconsolidated) \| Liberty Global
Business Combination [Line Items]
Interest acquired (in percent)			10.00%	10.00%

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2026

Commitments and Contingencies Disclosure [Abstract]

Schedule of Unrecorded Purchase Obligation

The following table sets forth the U.S. dollar equivalents of such commitments as of June 30, 2026. The commitments included in this table do not reflect any liabilities that are included on our June 30, 2026 condensed consolidated balance sheet.


	Payments due during:
	Remainder of 2026
			2027		2028		2029		2030		2031		Thereafter		Total
	in millions

Purchase commitments	$	525.2	$	642.7	$	580.2	$	117.0	$	36.5	$	3.8	$	18.4	$	1,923.8
Programming commitments	89.8		115.5		84.4		69.5		44.5		—		—		403.7
Network and connectivity commitments	25.7		31.7		44.9		56.2		53.8		0.1		—		212.4
Other commitments	87.3		134.4		139.4		134.0		116.0		2.4		2.8		616.3
Total	$	728.0	$	924.3	$	848.9	$	376.7	$	250.8	$	6.3	$	21.2	$	3,156.2

Segment Reporting (Performance Measures- Footnotes) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]
Revenue	$ 1,172.0	$ 1,269.1	$ 2,446.6	$ 2,440.3
Central and other
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]
Revenue	343.5	387.5	760.3	722.2
Central and other \| JV Reportable Segments
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]
Revenue	188.6	143.7	335.8	278.3
Central and other \| Consolidated reportable segments
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]
Revenue	46.9	42.1	92.6	81.1
Central and other \| All other category
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]
Revenue	343.5	387.5	760.3	722.2
Central and other \| Related party
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]
Revenue	$ 108.0	$ 201.7	$ 331.9	$ 362.8

- Definition

+ References

+ Details

Debt (Maturities of Debt) (Details) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Debt Instrument [Line Items]
2026 (remainder of year)	$ 458.1
2027	203.5
2028	4,386.9
2029	2,332.7
2030	26.0
2031	26.5
Thereafter	909.4
Total debt maturities	8,343.1	$ 8,584.8
Deferred financing costs, discounts and premiums, net	(21.4)
Total debt	8,321.7
Current portion	614.4
Long-term portion	7,707.3
Telenet
Debt Instrument [Line Items]
2026 (remainder of year)	414.7
2027	180.7
2028	4,386.9
2029	1,292.2
2030	26.0
2031	26.5
Thereafter	831.0
Total debt maturities	7,158.0
Deferred financing costs, discounts and premiums, net	(11.6)
Total debt	7,146.4
Current portion	571.0
Long-term portion	6,575.4
VM Ireland
Debt Instrument [Line Items]
2026 (remainder of year)	0.0
2027	0.0
2028	0.0
2029	1,027.3
2030	0.0
2031	0.0
Thereafter	0.0
Total debt maturities	1,027.3
Deferred financing costs, discounts and premiums, net	(3.1)
Total debt	1,024.2
Current portion	0.0
Long-term portion	1,024.2
Other
Debt Instrument [Line Items]
2026 (remainder of year)	43.4
2027	22.8
2028	0.0
2029	13.2
2030	0.0
2031	0.0
Thereafter	78.4
Total debt maturities	157.8
Deferred financing costs, discounts and premiums, net	(6.7)
Total debt	151.1
Current portion	43.4
Long-term portion	$ 107.7

Revenue Recognition and Related Costs	6 Months Ended
Revenue Recognition and Related Costs	Jun. 30, 2026
Revenue from Contract with Customer [Abstract]
Revenue Recognition and Related Costs	Revenue Recognition and Related Costs Contract Balances The timing of our recognition of revenue may differ from the timing of invoicing our customers. We record a trade receivable when we have transferred goods or services to a customer but have not yet received payment. Our trade receivables are reported net of an allowance for doubtful accounts. Such allowance aggregated $32.7 million and $31.3 million at June 30, 2026 and December 31, 2025, respectively. If we transfer goods or services to a customer but do not have an unconditional right to payment, we record a contract asset. Contract assets typically arise from the uniform recognition of introductory promotional discounts over the contract period and accrued revenue for handset sales. Our contract assets were $11.7 million and $11.4 million as of June 30, 2026 and December 31, 2025, respectively. The current and long-term portions of our contract asset balances are included within other current assets and other assets, net, respectively, on our condensed consolidated balance sheets. We record deferred revenue when we receive payment prior to transferring goods or services to a customer. We primarily defer revenue for (i) installation and other upfront services and (ii) other services that are invoiced prior to when services are provided. Our deferred revenue balances were $262.9 million and $305.9 million as of June 30, 2026 and December 31, 2025, respectively. The decrease in deferred revenue for the six months ended June 30, 2026 is primarily due to the net effect of (a) the recognition of $258.8 million of revenue that was included in our deferred revenue balance at December 31, 2025 and (b) the impact of additions during the period. The long-term portions of our deferred revenue balances are included within other long-term liabilities on our condensed consolidated balance sheets. Unsatisfied Performance Obligations A significant portion of our revenue is derived from subscription service contracts with an initial duration of less than 12 months. As such, the amount of revenue related to unsatisfied performance obligations is not necessarily indicative of future revenue to be recognized from our existing customers. Revenue from customers who are subject to contracts is generally recognized over the term of such contracts, which is typically 12 months for our residential service contracts, one to three years for our mobile service contracts and one to five years for our B2B service contracts. The average remaining contractual term for B2B non-subscription services is approximately three years. At June 30, 2026 the aggregate transaction price allocated to remaining performance obligations related to our B2B and other fixed-fee service agreements with terms greater than one year was approximately $1.9 billion and is expected to be recognized over the respective remaining contractual terms.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net earnings (loss)	$ 0.4	$ (4,097.1)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Share-based compensation expense	81.0	82.8
Depreciation and amortization	527.3	483.0
Impairment, restructuring and other operating items, net	56.3	3.8
Amortization of deferred financing costs and non-cash interest	12.2	33.0
Realized and unrealized losses (gains) on derivative instruments, net	(150.4)	570.7
Foreign currency transaction losses (gains), net	(307.6)	3,170.9
Realized and unrealized gains due to changes in fair values of certain investments, net	(213.2)	(111.1)
Share of results of affiliates, net	311.6	412.6
Deferred income tax benefit	(10.6)	(126.5)
Changes in operating assets and liabilities, net of the effects of acquisitions and dispositions	31.5	(143.7)
Net cash provided by operating activities	338.5	278.4
Cash flows from investing activities:
Capital expenditures, net	(745.5)	(562.6)
Cash received from the sale of other investments	208.8	796.1
Cash paid for investments	(79.4)	(491.4)
Other investing activities, net	(3.6)	11.0
Net cash provided (used) by investing activities	168.8	(246.9)
Cash flows from financing activities:
Borrowings of debt	100.8	562.7
Operating-related vendor financing additions	190.0	151.6
Repayments and repurchases of debt and finance lease obligations:
Debt (excluding vendor financing)	(178.4)	(658.8)
Principal payments on operating-related vendor financing	(191.5)	(176.6)
Principal payments on capital-related vendor financing	(57.5)	(30.4)
Principal payments on finance leases	(3.7)	(2.8)
Net cash received (paid) related to derivative instruments	(0.2)	82.7
Repurchases of Liberty Global common shares	0.0	(102.0)
Other financing activities, net	4.4	(17.4)
Net cash used by financing activities	(136.1)	(191.0)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(34.0)	159.7
Net increase in cash and cash equivalents and restricted cash	337.2	0.2
Cash and cash equivalents and restricted cash:
Beginning of period	2,087.1	1,822.3
Net increase	337.2	0.2
End of period	2,424.3	1,822.5
Cash paid for interest	221.6	236.0
Net cash paid for taxes	113.4	182.7
EdgeConneX
Cash flows from investing activities:
Cash received in connection with the sale	677.8	0.0
UPC Slovakia
Cash flows from investing activities:
Cash received in connection with the sale	$ 110.7	$ 0.0

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Millions	Total	Total Liberty Global shareholders	Common shares Class A	Common shares Class B	Common shares Class C	Additional paid-in capital	Accumulated earnings	Accumulated other comprehensive earnings (loss), net of taxes	Treasury shares, at cost	Non-controlling interests
Beginning balance at Dec. 31, 2024	$ 12,544.3	$ 12,365.9	$ 1.7	$ 0.1	$ 1.6	$ 777.0	$ 12,242.6	$ (657.0)	$ (0.1)	$ 178.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	(1,323.3)	(1,337.3)					(1,337.3)			14.0
Other comprehensive earnings (loss), net of taxes	1,621.9	1,621.9						1,621.9
Repurchases and cancellations of Liberty Global common shares	(38.8)	(38.8)				(38.8)
Share-based compensation (note 12)	26.6	26.6				26.6
Adjustments due to changes in subsidiaries’ equity and other, net	10.6	10.5				10.5				0.1
Ending balance at Mar. 31, 2025	12,841.3	12,648.8	1.7	0.1	1.6	775.3	10,905.3	964.9	(0.1)	192.5
Beginning balance at Dec. 31, 2024	12,544.3	12,365.9	1.7	0.1	1.6	777.0	12,242.6	(657.0)	(0.1)	178.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	(4,097.1)
Other comprehensive earnings (loss), net of taxes	4,800.9
Ending balance at Jun. 30, 2025	13,205.0	12,994.0	1.7	0.1	1.5	734.5	8,112.4	4,143.9	(0.1)	211.0
Beginning balance at Mar. 31, 2025	12,841.3	12,648.8	1.7	0.1	1.6	775.3	10,905.3	964.9	(0.1)	192.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	(2,773.8)	(2,792.9)					(2,792.9)			19.1
Other comprehensive earnings (loss), net of taxes	3,179.0	3,179.0						3,179.0
Repurchases and cancellations of Liberty Global common shares	(64.2)	(64.2)			(0.1)	(64.1)
Share-based compensation (note 12)	34.3	34.3				34.3
Adjustments due to changes in subsidiaries’ equity and other, net	(11.6)	(11.0)				(11.0)				(0.6)
Ending balance at Jun. 30, 2025	13,205.0	12,994.0	1.7	0.1	1.5	734.5	8,112.4	4,143.9	(0.1)	211.0
Beginning balance at Dec. 31, 2025	9,945.8	9,735.7	1.7	0.1	1.5	712.4	5,104.5	3,915.6	(0.1)	210.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	358.2	337.8					337.8			20.4
Other comprehensive earnings (loss), net of taxes	(633.6)	(633.6)						(633.6)
Share-based compensation (note 12)	32.3	32.3				32.3
Adjustments due to changes in subsidiaries’ equity and other, net	32.0	32.0				32.0
Ending balance at Mar. 31, 2026	9,734.7	9,504.2	1.7	0.1	1.5	776.7	5,442.3	3,282.0	(0.1)	230.5
Beginning balance at Dec. 31, 2025	9,945.8	9,735.7	1.7	0.1	1.5	712.4	5,104.5	3,915.6	(0.1)	210.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	0.4
Other comprehensive earnings (loss), net of taxes	(576.5)
Ending balance at Jun. 30, 2026	9,462.4	9,224.6	1.7	0.1	1.5	805.1	5,077.2	3,339.1	(0.1)	237.8
Beginning balance at Mar. 31, 2026	9,734.7	9,504.2	1.7	0.1	1.5	776.7	5,442.3	3,282.0	(0.1)	230.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	(357.8)	(365.1)					(365.1)			7.3
Other comprehensive earnings (loss), net of taxes	57.1	57.1						57.1
Share-based compensation (note 12)	33.4	33.4				33.4
Adjustments due to changes in subsidiaries’ equity and other, net	(5.0)	(5.0)				(5.0)
Ending balance at Jun. 30, 2026	$ 9,462.4	$ 9,224.6	$ 1.7	$ 0.1	$ 1.5	$ 805.1	$ 5,077.2	$ 3,339.1	$ (0.1)	$ 237.8

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 14A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-14A

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
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+ Details

Commitments and Contingencies (Narrative) (Details) € in Billions	1 Months Ended		6 Months Ended
	Dec. 31, 2015 USD ($)	Dec. 31, 2015 EUR (€)	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Nov. 26, 2007 association
Loss Contingencies [Line Items]
Programming costs			$ 196,000,000.0	$ 299,900,000
Percentage of amounts recovered			50.00%
Percentage of net present value, cost savings			50.00%
Percentage of legal and other third party, fees			50.00%
Deutsche Telekom Litigation
Loss Contingencies [Line Items]
Reduction of annual lease fees			83.33%
Interkabel Acquisition
Loss Contingencies [Line Items]
Number of associations of municipalities \| association					4
Damages sought	$ 1,600,000,000	€ 1.4
Loss contingency accrual			$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Statement [Line Items]
Investments and receivables at fair value	$ 1,054.6	$ 1,631.5
Class A
Statement [Line Items]
Common stock, nominal value (in dollars per share)	$ 0.01	$ 0.01
Common stock, issued (in shares)	176,721,543	174,502,063
Common stock, outstanding (in shares)	176,721,543	174,502,063
Class B
Statement [Line Items]
Common stock, nominal value (in dollars per share)	$ 0.01	$ 0.01
Common stock, issued (in shares)	12,968,658	12,968,658
Common stock, outstanding (in shares)	12,968,658	12,968,658
Class C
Statement [Line Items]
Common stock, nominal value (in dollars per share)	$ 0.01	$ 0.01
Common stock, issued (in shares)	151,396,620	147,333,037
Common stock, outstanding (in shares)	151,396,620	147,333,037

- Definition

Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.

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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 77: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 78: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 79: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(7)(a)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 80: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(7)(a)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 81: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(7)(a)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 82: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(7)(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 83: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(7)(a)(6))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 84: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(7)(c)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 85: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(7)(c)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 86: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-3

+ Details

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value

A summary of our assets and liabilities that are measured at fair value on a recurring basis is as follows:


			Fair value measurements at June 30, 2026 using:
Description	June 30, 2026		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	in millions

Assets:
Derivative instruments:
Cross-currency and interest rate derivative contracts	$	257.0	$	—	$	257.0	$	—

Foreign currency forward and option contracts	2.8		—		2.8		—
Other	13.4		—		13.4		—
Total derivative instruments	273.2		—		273.2		—



Investments	1,054.6		222.1		0.1		832.4
Total assets	$	1,327.8	$	222.1	$	273.3	$	832.4

Liabilities:
Derivative instruments:
Cross-currency and interest rate derivative contracts	$	168.6	$	—	$	168.6	$	—

Foreign currency forward and option contracts	1.7		—		1.7		—
Other	11.8		—		11.8		—


Total liabilities	$	182.1	$	—	$	182.1	$	—


			Fair value measurements at December 31, 2025 using:
Description	December 31, 2025		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	in millions

Assets:
Derivative instruments:
Cross-currency and interest rate derivative contracts	$	240.9	$	—	$	240.9	$	—

Foreign currency forward and option contracts	0.1		—		0.1		—
Other	7.8		—		7.8		—
Total derivative instruments	248.8		—		248.8		—
Investments:
SMAs	76.2		—		76.2		—
Other investments	1,631.5		278.1		0.1		1,353.3
Total investments	1,707.7		278.1		76.3		1,353.3
Total assets	$	1,956.5	$	278.1	$	325.1	$	1,353.3

Liabilities:
Derivative instruments:
Cross-currency and interest rate derivative contracts	$	248.2	$	—	$	248.2	$	—

Foreign currency forward and option contracts	2.8		—		2.8		—
Other	8.7		—		8.7		—


Total liabilities	$	259.7	$	—	$	259.7	$	—

Schedule of Reconciliation of the Beginning and Ending Balances of Assets and Liabilities Measured at Fair Value Using Significant Unobservable, or Level 3, Inputs

A reconciliation of the beginning and ending balances of our investments measured at fair value on a recurring basis using significant unobservable, or Level 3, inputs is as follows (in millions):





Balance of Level 3 investments at January 1, 2026	$	1,353.3
Gains included in net earnings (a):

Realized and unrealized gains due to changes in fair values of certain investments, net	160.5


Additions	24.3
Dispositions	(677.9)

Foreign currency translation adjustments and other, net	(27.8)
Balance of Level 3 investments at June 30, 2026 (b)	$	832.4

_______________

(a)Amounts primarily relate to Level 3 investments that we continue to carry on our condensed consolidated balance sheet as of June 30, 2026.

(b)As of June 30, 2026, $369.5 million of our Level 3 investments were accounted for under the measurement alternative at cost less impairment, adjusted for observable price changes.

Investments (Tables)

6 Months Ended

Jun. 30, 2026

Investments [Abstract]

Schedule of Investments by Accounting Method

The details of our investments are set forth below:


Accounting Method	June 30, 2026		December 31, 2025		Ownership (a)
	in millions				%
Equity (b):
Long-term:
VMO2 JV	$	3,481.1	$	3,756.7	50.0
VodafoneZiggo JV (c)	1,623.8		1,738.6		50.0
AE Group Sàrl (AtlasEdge JV) (d)	360.2		388.4		48.8
Nexfibre Networks Limited (nexfibre JV) (e)	70.8		88.3		25.0
Other	109.8		82.6
Total — equity	5,645.7		6,054.6
Fair value:
Short-term:
Separately-managed accounts (SMAs) (f)	—		76.2
Long-term:
Televisa Univision, Inc. (Televisa Univision)	299.4		299.5		6.5
Lionsgate Studios Corp. (Lionsgate)	107.8		64.2		2.4
ITV plc (ITV) (g)	100.7		208.4		2.5
CANAL+ Polska S.A	78.0		81.8		17.0

Plume Design, Inc. (Plume) (h)	57.3		64.1		10.2

EdgeConneX, Inc. (EdgeConneX) (i)	—		528.3
Other	411.4		385.2
Total — fair value	1,054.6		1,707.7
Total investments (j)	$	6,700.3	$	7,762.3
Short-term investments	$	—	$	76.2
Long-term investments	$	6,700.3	$	7,686.1

_______________

(d)Liberty Global owns a 50% noncontrolling voting interest in the AtlasEdge JV.

(e)Liberty Global owns a 25% noncontrolling voting interest in the nexfibre JV.

(g)During the first quarter of 2026, we disposed of approximately one-half of our interest in ITV for aggregate cash proceeds of approximately £76.1 million ($101.8 million).

(h)Our investment in Plume includes warrants with a fair value of $18.4 million and $21.1 million at June 30, 2026 and December 31, 2025, respectively.

(j)The purchase and sale of investments are presented on a gross basis in our condensed consolidated statements of cash flows, including amounts associated with SMAs.

Schedule of Equity Method Investments

The following table sets forth the details of our share of results of affiliates, net:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

VMO2 JV (a)	$	(208.0)	$	(161.1)	$	(224.6)	$	(247.7)
VodafoneZiggo JV (b)	(45.7)		(48.1)		(38.9)		(70.7)
nexfibre JV	(22.3)		(29.6)		(27.4)		(42.2)
AtlasEdge JV	(12.5)		(18.5)		(18.1)		(34.5)
Other, net	(1.4)		(7.3)		(2.6)		(17.5)
Total	$	(289.9)	$	(264.6)	$	(311.6)	$	(412.6)

_______________

(a)Represents our share of the results of operations of the VMO2 JV.

(b)Represents (i) our share of the results of operations of the VodafoneZiggo JV and (ii) 100% of the interest income earned on the VodafoneZiggo JV Receivables.

The following table sets forth a summary of revenue recorded from the VMO2 JV:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

Fixed fee	$	58.0	$	56.7	$	117.3	$	110.8
Variable charges (a)	73.9		38.8		107.8		73.2
Total revenue	$	131.9	$	95.5	$	225.1	$	184.0

_______________

(a)Amounts primarily include the sale of customer premises equipment (CPE) at a mark-up.

The summarized results of operations of the VMO2 JV are set forth below:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

Revenue	$	3,220.3	$	3,373.5	$	6,442.7	$	6,499.8
Loss before income taxes	$	(530.7)	$	(403.9)	$	(569.7)	$	(616.1)
Net loss	$	(410.8)	$	(308.9)	$	(438.4)	$	(474.7)

The summarized results of operations of the VodafoneZiggo JV are set forth below:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

Revenue	$	1,133.7	$	1,123.3	$	2,282.2	$	2,175.3
Loss before income taxes	$	(165.5)	$	(157.6)	$	(162.3)	$	(246.6)
Net loss	$	(122.6)	$	(119.9)	$	(139.3)	$	(190.4)

Schedule of Debt Securities

The following table sets forth the details of our realized and unrealized gains due to changes in fair values of certain investments, net:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

EdgeConneX (a)	$	95.3	$	14.9	$	154.2	$	3.6
Lionsgate (b)	40.4		(9.5)		43.6		(7.3)
Televisa Univision	2.8		(27.6)		7.8		(41.6)
Plume	(5.6)		(9.7)		(6.8)		(13.0)
ITV	7.3		43.1		(6.1)		79.8
Vodafone (c)	—		57.9		—		121.6
Other, net	15.2		(13.8)		20.5		(32.0)
Total	$	155.4	$	55.3	$	213.2	$	111.1

_______________

(a)We completed the sale of our investment in EdgeConneX during the second quarter of 2026.

(c)We completed the sale of our investment in Vodafone during the third quarter of 2025.

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-9

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

+ Details

Leases

6 Months Ended

Jun. 30, 2026

Leases [Abstract]

Leases

General

We enter into operating and finance leases for network equipment, real estate, mobile site sharing and vehicles. We provide residual value guarantees on certain of our vehicle leases.

Lease Balances

A summary of our right-of-use (ROU) assets and lease liabilities is set forth below:


	June 30, 2026		December 31, 2025
	in millions

ROU assets:
Operating leases (a)	$	768.8	$	773.6
Finance leases (b)	35.1		37.1
Total ROU assets	$	803.9	$	810.7

Lease liabilities:
Operating leases (c)	$	812.8	$	828.5
Finance leases (d)	28.6		33.1
Total lease liabilities	$	841.4	$	861.6

_______________

(c)The current portions of our operating lease liabilities are included in other accrued and current liabilities on our condensed consolidated balance sheets.

A summary of our aggregate lease expense is set forth below:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

Finance lease expense:
Depreciation and amortization	$	1.6	$	1.4	$	3.4	$	3.4
Interest expense	0.7		0.6		1.3		1.4
Total finance lease expense	2.3		2.0		4.7		4.8
Operating lease expense (a)	30.4		28.1		62.5		56.3
Short-term lease expense (a)	—		0.1		0.1		0.2
Variable lease expense (b)	0.4		0.4		0.8		0.8
Total lease expense	$	33.1	$	30.6	$	68.1	$	62.1

_______________

A summary of our cash outflows from operating and finance leases is set forth below:




	Six months ended June 30,
	2026		2025
	in millions

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	44.4	$	39.3
Operating cash outflows from finance leases (interest component)	1.3		1.4
Financing cash outflows from finance leases (principal component)	3.7		2.8
Total cash outflows from operating and finance leases	$	49.4	$	43.5

Maturities of our operating and finance lease liabilities as of June 30, 2026 are presented below. Amounts represent U.S. dollar equivalents based on June 30, 2026 exchange rates.


	Operating leases (a)		Finance leases
	in millions

Year ending December 31:
2026 (remainder of year)	$	62.2	$	4.5
2027	112.5		7.9
2028	106.2		5.0
2029	98.1		3.5
2030	93.6		2.1
2031	87.4		1.7
Thereafter	522.7		12.9
Total payments	1,082.7		37.6
Less: present value discount	(269.9)		(9.0)
Present value of lease payments	$	812.8	$	28.6
Current portion	$	89.0	$	6.0
Long-term portion	$	723.8	$	22.6

______________

Leases

General

We enter into operating and finance leases for network equipment, real estate, mobile site sharing and vehicles. We provide residual value guarantees on certain of our vehicle leases.

Lease Balances

A summary of our right-of-use (ROU) assets and lease liabilities is set forth below:


	June 30, 2026		December 31, 2025
	in millions

ROU assets:
Operating leases (a)	$	768.8	$	773.6
Finance leases (b)	35.1		37.1
Total ROU assets	$	803.9	$	810.7

Lease liabilities:
Operating leases (c)	$	812.8	$	828.5
Finance leases (d)	28.6		33.1
Total lease liabilities	$	841.4	$	861.6

_______________

(c)The current portions of our operating lease liabilities are included in other accrued and current liabilities on our condensed consolidated balance sheets.

A summary of our aggregate lease expense is set forth below:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

Finance lease expense:
Depreciation and amortization	$	1.6	$	1.4	$	3.4	$	3.4
Interest expense	0.7		0.6		1.3		1.4
Total finance lease expense	2.3		2.0		4.7		4.8
Operating lease expense (a)	30.4		28.1		62.5		56.3
Short-term lease expense (a)	—		0.1		0.1		0.2
Variable lease expense (b)	0.4		0.4		0.8		0.8
Total lease expense	$	33.1	$	30.6	$	68.1	$	62.1

_______________

A summary of our cash outflows from operating and finance leases is set forth below:




	Six months ended June 30,
	2026		2025
	in millions

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	44.4	$	39.3
Operating cash outflows from finance leases (interest component)	1.3		1.4
Financing cash outflows from finance leases (principal component)	3.7		2.8
Total cash outflows from operating and finance leases	$	49.4	$	43.5

Maturities of our operating and finance lease liabilities as of June 30, 2026 are presented below. Amounts represent U.S. dollar equivalents based on June 30, 2026 exchange rates.


	Operating leases (a)		Finance leases
	in millions

Year ending December 31:
2026 (remainder of year)	$	62.2	$	4.5
2027	112.5		7.9
2028	106.2		5.0
2029	98.1		3.5
2030	93.6		2.1
2031	87.4		1.7
Thereafter	522.7		12.9
Total payments	1,082.7		37.6
Less: present value discount	(269.9)		(9.0)
Present value of lease payments	$	812.8	$	28.6
Current portion	$	89.0	$	6.0
Long-term portion	$	723.8	$	22.6

______________

Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Values of Derivative Instrument Assets and Liabilities

The following table provides details of the fair values of our derivative instrument assets and liabilities:


	June 30, 2026						December 31, 2025
	Current		Long-term		Total		Current		Long-term		Total
	in millions

Assets (a):
Cross-currency and interest rate derivative contracts (b)	$	135.3	$	121.7	$	257.0	$	127.1	$	113.8	$	240.9

Foreign currency forward and option contracts	2.1		0.7		2.8		0.1		—		0.1
Other	13.0		0.4		13.4		7.8		—		7.8
Total	$	150.4	$	122.8	$	273.2	$	135.0	$	113.8	$	248.8

Liabilities (a):
Cross-currency and interest rate derivative contracts (b)	$	112.5	$	56.1	$	168.6	$	126.2	$	122.0	$	248.2

Foreign currency forward and option contracts	0.4		1.3		1.7		1.9		0.9		2.8
Other	11.8		—		11.8		8.2		0.5		8.7
Total	$	124.7	$	57.4	$	182.1	$	136.3	$	123.4	$	259.7

_______________

Schedule of Realized and Unrealized Losses on Derivative Instruments

The details of our realized and unrealized gains (losses) on derivative instruments, net, are as follows:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions

Cross-currency and interest rate derivative contracts	$	16.6	$	(323.2)	$	146.8	$	(433.9)
Foreign currency forward and option contracts	1.6		(9.0)		3.6		(13.7)
Equity-related derivative instruments	—		(73.9)		—		(123.1)
Other	—		0.1		—		—
Total	$	18.2	$	(406.0)	$	150.4	$	(570.7)

Schedule of Cash Received (Paid) Related to Derivative Instruments Statement of Cash Flows Location

The following table sets forth the classification of the net cash inflows of our derivative instruments:


	Six months ended June 30,
	2026		2025
	in millions

Operating activities	$	41.1	$	72.7
Investing activities	—		(0.1)
Financing activities	(0.2)		82.7
Total	$	40.9	$	155.3

Schedule of Derivative Instruments

The following table sets forth the total notional amounts and the related weighted average remaining contractual lives of our cross-currency swap contracts at June 30, 2026:


	Notional amount due from counterparty		Notional amount due to counterparty		Weighted average remaining life
	in millions				in years












Telenet	$	3,266.6	€	2,899.5	1.8


			Pays fixed rate							Receives fixed rate
			Notional amount				Weighted average remaining life			Notional amount			Weighted average remaining life
			in millions				in years			in millions			in years



Telenet	$	4,120.5	(a)			2.8		$	—			—

Other (b)			$	248.9	(a)		19.5			$	—		—

_______________

(b)Represents contracts associated with Egg Power AssetCo Limited, a subsidiary of Liberty Global (Egg Power).

The following table sets forth the total U.S. dollar equivalents of the notional amounts and related weighted average remaining contractual lives of our basis swap contracts at June 30, 2026:


	Notional amount due from counterparty		Weighted average remaining life
	in millions		in years



Telenet	$	3,562.0	—

VM Ireland	$	1,027.3	—

The impact of the derivative instruments that mitigate our foreign currency and interest rate risk, as described above, on our borrowing costs is as follows:


	Increase (decrease) to borrowing costs at June 30, 2026 (a)


VM Ireland	(1.89)	%
Telenet	(1.61)	%
Other (b)	0.28	%
Total decrease to borrowing costs	(1.62)	%

_______________

(a)Represents the effect of derivative instruments in effect at June 30, 2026 and does not include forward-starting derivative instruments.

(b)Represents the impact of derivative instruments on borrowing costs at Egg Power.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ (357.8)	$ (2,773.8)	$ 0.4	$ (4,097.1)
Other comprehensive earnings (loss), net of taxes:
Foreign currency translation adjustments	53.9	3,174.4	(581.5)	4,801.4
Reclassification adjustment included in net earnings (loss)	3.8	0.0	4.1	0.0
Pension-related adjustments and other	(0.6)	4.6	0.9	(0.5)
Other comprehensive earnings (loss)	57.1	3,179.0	(576.5)	4,800.9
Comprehensive earnings (loss)	(300.7)	405.2	(576.1)	703.8
Comprehensive earnings attributable to noncontrolling interests	(7.3)	(19.1)	(27.7)	(33.1)
Comprehensive earnings (loss) attributable to Liberty Global Shareholders	$ (308.0)	$ 386.1	$ (603.8)	$ 670.7

Segment Reporting (Reconciliation of Operating Cash Flow to Earnings from Continuing Operations) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Segment Reporting [Line Items]
Share-based compensation expense	$ (43.9)	$ (49.4)	$ (81.0)	$ (82.8)
Depreciation and amortization	(262.5)	(250.8)	(527.3)	(483.0)
Impairment, restructuring and other operating items, net	(15.5)	(5.5)	(56.3)	(3.8)
Operating income	3.0	29.6	26.8	90.3
Interest expense	(115.9)	(129.5)	(229.6)	(257.0)
Realized and unrealized gains (losses) on derivative instruments, net	18.2	(406.0)	150.4	(570.7)
Foreign currency transaction gains (losses), net	(122.6)	(2,089.9)	307.6	(3,170.9)
Realized and unrealized gains due to changes in fair values of certain investments, net	155.4	55.3	213.2	111.1
Share of results of affiliates, net	(289.9)	(264.6)	(311.6)	(412.6)
Other income, net	16.8	32.2	41.8	43.6
Earnings (loss) before income taxes	(335.0)	(2,772.9)	198.6	(4,166.2)
VMO2 JV And VodafoneZiggo JV
Segment Reporting [Line Items]
Adjusted EBITDA	1,650.4	1,669.0	3,224.2	3,205.5
Third-party and affiliate
Segment Reporting [Line Items]
Adjusted EBITDA	2,029.4	2,048.4	3,979.8	3,923.7
Third-party and affiliate \| Telenet
Segment Reporting [Line Items]
Adjusted EBITDA	197.0	185.1	380.9	340.9
Third-party and affiliate \| Wyre
Segment Reporting [Line Items]
Adjusted EBITDA	141.6	152.9	295.9	298.7
Third-party and affiliate \| VM Ireland
Segment Reporting [Line Items]
Adjusted EBITDA	40.4	41.4	78.8	78.6
Third-party and affiliate \| VMO2 JV (nonconsolidated)
Segment Reporting [Line Items]
Adjusted EBITDA	1,180.3	1,172.3	2,272.1	2,245.7
Third-party and affiliate \| VodafoneZiggo JV (nonconsolidated)
Segment Reporting [Line Items]
Adjusted EBITDA	470.1	496.7	952.1	959.8
Central and other
Segment Reporting [Line Items]
Adjusted EBITDA	43.7	34.1	44.0	38.3
Intersegment
Segment Reporting [Line Items]
Adjusted EBITDA	$ 10.4	$ 10.0	$ 20.2	$ 20.0

Loss per Share (Tables)

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

Schedule of Weighted Average Shares Outstanding

The details of our net loss attributable to Liberty Global shareholders are set forth below:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions, except share amounts

Net earnings (loss)	$	(357.8)	$	(2,773.8)	$	0.4	$	(4,097.1)
Net earnings attributable to noncontrolling interests	(7.3)		(19.1)		(27.7)		(33.1)
Net loss attributable to Liberty Global shareholders	$	(365.1)	$	(2,792.9)	$	(27.3)	$	(4,130.2)

Weighted average common shares outstanding (basic EPS computation)	339,986,346		345,025,708		337,909,892		346,707,354



Excluded potentially dilutive employee share-based incentive awards (a)	144,182,935		155,485,651		144,182,935		155,485,651

_______________

(a)Amounts represent potentially dilutive shares that have been excluded from the computation of diluted loss attributable to Liberty Global shareholders because their effect would have been anti-dilutive under the treasury stock method. Additional shares may be issuable in future periods based on the actual performance of certain PSUs, because such awards had not yet met the applicable performance criteria during the reporting period.

Commitments and Contingencies (Unrecorded Purchase Obligation) (Details) $ in Millions	Jun. 30, 2026 USD ($)
Unrecorded Unconditional Purchase Obligation [Line Items]
Remainder of 2026	$ 728.0
2027	924.3
2028	848.9
2029	376.7
2030	250.8
2031	6.3
Thereafter	21.2
Total	3,156.2
Purchase commitments
Unrecorded Unconditional Purchase Obligation [Line Items]
Remainder of 2026	525.2
2027	642.7
2028	580.2
2029	117.0
2030	36.5
2031	3.8
Thereafter	18.4
Total	1,923.8
Programming commitments
Unrecorded Unconditional Purchase Obligation [Line Items]
Remainder of 2026	89.8
2027	115.5
2028	84.4
2029	69.5
2030	44.5
2031	0.0
Thereafter	0.0
Total	403.7
Network and connectivity commitments
Unrecorded Unconditional Purchase Obligation [Line Items]
Remainder of 2026	25.7
2027	31.7
2028	44.9
2029	56.2
2030	53.8
2031	0.1
Thereafter	0.0
Total	212.4
Other commitments
Unrecorded Unconditional Purchase Obligation [Line Items]
Remainder of 2026	87.3
2027	134.4
2028	139.4
2029	134.0
2030	116.0
2031	2.4
Thereafter	2.8
Total	$ 616.3

Long-lived Assets (Intangible Assets Subject to Amortization, Net) (Details) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Property, Plant, and Equipment [Line Items]
Gross carrying amount	$ 2,072.8	$ 2,130.7
Accumulated amortization	(806.0)	(781.3)
Net carrying amount	1,266.8	1,349.4
Licenses
Property, Plant, and Equipment [Line Items]
Gross carrying amount	1,539.5	1,582.8
Accumulated amortization	(458.9)	(438.0)
Net carrying amount	1,080.6	1,144.8
Customer relationships
Property, Plant, and Equipment [Line Items]
Gross carrying amount	261.6	269.0
Accumulated amortization	(187.7)	(186.0)
Net carrying amount	73.9	83.0
Other
Property, Plant, and Equipment [Line Items]
Gross carrying amount	271.7	278.9
Accumulated amortization	(159.4)	(157.3)
Net carrying amount	$ 112.3	$ 121.6

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Share-based Compensation (Awards Outstanding and Exercisable) (Details)	Jun. 30, 2026 $ / shares shares
Held by Liberty Global employees \| Options and SARs \| Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares)	34,469,992
Options outstanding, weighted average exercise or base price (in dollars per shares) \| $ / shares	$ 13.72
Options exercisable (in shares)	32,458,430
Options exercisable, weighted average exercise price or base price (in dollars per shares) \| $ / shares	$ 13.96
Held by Liberty Global employees \| Options and SARs \| Class C
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares)	79,719,558
Options outstanding, weighted average exercise or base price (in dollars per shares) \| $ / shares	$ 13.88
Options exercisable (in shares)	76,960,071
Options exercisable, weighted average exercise price or base price (in dollars per shares) \| $ / shares	$ 14.01
Held by Liberty Global employees \| RSUs \| Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other than options outstanding (in shares)	5,385,105
Held by Liberty Global employees \| RSUs \| Class B
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other than options outstanding (in shares)	519,268
Held by Liberty Global employees \| RSUs \| Class C
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other than options outstanding (in shares)	5,696,016
Held by Liberty Global employees \| PSUs \| Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other than options outstanding (in shares)	6,620,524
Held by Liberty Global employees \| PSUs \| Class B
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other than options outstanding (in shares)	649,086
Held by Liberty Global employees \| PSUs \| Class C
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other than options outstanding (in shares)	8,418,934
Held by former Liberty Global employees \| Options and SARs \| Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares)	2,217,537
Options outstanding, weighted average exercise or base price (in dollars per shares) \| $ / shares	$ 15.43
Options exercisable (in shares)	2,216,271
Options exercisable, weighted average exercise price or base price (in dollars per shares) \| $ / shares	$ 15.44
Held by former Liberty Global employees \| Options and SARs \| Class C
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares)	4,370,561
Options outstanding, weighted average exercise or base price (in dollars per shares) \| $ / shares	$ 15.45
Options exercisable (in shares)	4,368,051
Options exercisable, weighted average exercise price or base price (in dollars per shares) \| $ / shares	$ 15.45
Held by former Liberty Global employees \| RSUs \| Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other than options outstanding (in shares)	6,610
Held by former Liberty Global employees \| RSUs \| Class B
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other than options outstanding (in shares)	0
Held by former Liberty Global employees \| RSUs \| Class C
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other than options outstanding (in shares)	7,221
Held by former Liberty Global employees \| PSUs \| Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other than options outstanding (in shares)	1,812
Held by former Liberty Global employees \| PSUs \| Class B
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other than options outstanding (in shares)	0
Held by former Liberty Global employees \| PSUs \| Class C
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other than options outstanding (in shares)	1,812

Loss per Share

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

Loss per Share

Basic earnings or loss per share (EPS) is computed by dividing net earnings or loss attributable to Liberty Global shareholders by the weighted average number of shares outstanding for the period. Diluted EPS, as calculated under the treasury stock method, presents the dilutive effect, if any, on a per share basis of potential shares from share-based incentive awards as if they had been exercised, vested or converted at the beginning of the periods presented. Certain of our share incentive plans include performance and/or other features that result in the associated shares being contingently issuable. For purposes of applying the treasury stock method, the dilutive effect of these awards is calculated based on the number of the shares that would be issuable as if the end of the reporting period was the end of the contingency period. For additional information regarding our share-based incentive awards, see note 12.

The details of our net loss attributable to Liberty Global shareholders are set forth below:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	in millions, except share amounts

Net earnings (loss)	$	(357.8)	$	(2,773.8)	$	0.4	$	(4,097.1)
Net earnings attributable to noncontrolling interests	(7.3)		(19.1)		(27.7)		(33.1)
Net loss attributable to Liberty Global shareholders	$	(365.1)	$	(2,792.9)	$	(27.3)	$	(4,130.2)

Weighted average common shares outstanding (basic EPS computation)	339,986,346		345,025,708		337,909,892		346,707,354



Excluded potentially dilutive employee share-based incentive awards (a)	144,182,935		155,485,651		144,182,935		155,485,651

_______________