LBTYK Price Correlated With Financials For Liberty Global
Free historical financial statements for Liberty Global plc. See how revenue, income, cash flow, and balance sheet financials have changed over 33 quarters since 2014. Compare with LBTYK stock chart to see long term trends.
Basis of Presentation Liberty Global plc ( Liberty Global ) is a public limited company organized under the laws of England and Wales. 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.
Our continuing operations comprise businesses that provide residential and business-to-business ( B2B ) communications services in (i) Switzerland and Slovakia through certain wholly-owned subsidiaries that we collectively refer to as “ UPC Holding ”, (ii) Belgium through Telenet Group Holding N.V. ( Telenet ), a 60.8%-owned subsidiary, and (iii) Ireland through another wholly-owned subsidiary ( VM Ireland ). In addition, we own 50% noncontrolling interests in (a) a 50:50 joint venture (the VodafoneZiggo JV ) with Vodafone Group plc ( Vodafone ), which provides residential and B2B communication services in the Netherlands, and (b) a 50:50 joint venture (the VMO2 JV ) with Telefónica SA ( Telefónica ), which provides residential and B2B communication services in the United Kingdom ( U.K. ).
In addition, we currently provide residential and B2B communications services in Poland through UPC Holding. On September 22, 2021, we entered into an agreement to sell our operations in Poland. Accordingly, in these consolidated financial statements, our operations in Poland are reflected as discontinued operations for all periods presented. For additional information, see note 6.
Through May 31, 2021, our consolidated operations also included residential and B2B communications services provided to customers in the U.K. through Virgin Media Inc. ( Virgin Media ). On June 1, 2021, we contributed the U.K. JV Entities (as defined in note 6) to the VMO2 JV and began accounting for our 50% interest in the VMO2 JV as an equity method investment. For additional information, see note 6.
Through July 31, 2019, we provided residential and B2B communication services in (i) Germany through Unitymedia GmbH ( Unitymedia ) and (ii) Hungary, the Czech Republic and Romania through UPC Holding. In addition, through May 2, 2019, we provided direct-to-home satellite ( DTH ) services to residential customers in Hungary, the Czech Republic, Romania and Slovakia through a Luxembourg-based subsidiary of UPC Holding that we refer to as “ UPC DTH ”. In these consolidated financial statements, our operations in Germany, Romania, Hungary and the Czech Republic and the operations of UPC DTH are presented as discontinued operations for all applicable periods. For information regarding the disposition of these entities, see note 6.
These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ( GAAP ). Unless otherwise indicated, the amounts presented in these notes relate only to our continuing operations, and ownership percentages and convenience translations into United States ( U.S. ) dollars are calculated as of December 31, 2021.