Liberty Global Results Presentation Deck
FULL COMPANY DISTRIBUTABLE CF:
$137M GENERATED IN Q1 (1)
$M
ADJ EBITDA LESS P&E ADDITIONS
NET INTEREST
CASH TAX
€
DIVIDENDS & INTEREST FROM JV's (2)
WORKING CAPITAL (3)
DIRECT ACQUISITION COSTS & DEFINITIONAL
CHANGES
FULL COMPANY AS REPORTED ADJUSTED FCF
OTHER AFFILIATE DIVIDENDS
FULL COMPANY AS GUIDED DISTRIBUTABLE CASH FLOW (4)
FY 2021
$1,921
(821)
(190)
583
(7)
(97)
$1,389
$1,389
Q1 2022
$327
(249)
(92)
109
59
(17)
$137
$137
(1) During Q4 2021, we changed our Adjusted FCF definition to include cash paid for direct acquisition costs ("DAC"). We have revised our presentation of Q1 2021 Adjusted FCF to align with these definitional changes. Prospectively, we will include DAC in our as reported Adjusted
FCF.
(2)
FY 2021 includes (i) $368 million of dividends and interest from the VodafoneZiggo JV, which reflects distributions of YTD cash generated in excess of our $123 million funding of the shareholder loans and (ii) $215 million of dividends from the VMO2 JV.
(3) Includes working capital, operational finance (vendor finance) and restructuring.
(4) We define Distributable Cash Flow as Adjusted FCF plus any dividends received from our equity affiliates that are funded by activities outside of their normal course of operations, including, for example, those funded by recapitalizations (referred to as "Other Affiliate Dividends").
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