Liberty Global Results Presentation Deck
VMO2 JV RECONCILIATIONS - ADJ EBITDA
The following tables provide reconciliations from VMO2 JV Transaction Adjusted IFRS Adjusted EBITDA to US GAAP Adjusted EBITDA for the indicated periods:
Adjusted EBITDA:
IFRS Transaction Adjusted Adj EBITDA
Transaction Adjustments (a)...
IFRS Adjusted EBITDA..
IFRS/US GAAP Adjustments (b).
US GAAP Adjusted EBITDA.
Adjusted EBITDA:
IFRS Transaction Adjusted Adj EBITDA
Transaction Adjustments (a)...
IFRS Adjusted EBITDA..
IFRS/US GAAP Adjustments (b)..
US GAAP Adjusted EBITDA..
S
S
S
S
March 31, 2020
1,112.9
43.7
1,156.7
(91.2)
1,065.5
Pro Forma
March 31, 2021
1,243.5
11.3
1,254.8
(106.0)
1,148.8
S
S
S
S
Pro Forma
Three months ended
June 30, 2020 September 30, 2020
in millions
1,092.5
36.1
1,128.6
(90.9)
1,037.7 S
Pro Forma
S
June 30, 2021
Three months ended
1,291.0
17.8
1,308.8
(98.4)
1,210.3 S
S
1,172.7
29.6
1,202.3
(91.1)
1,111.2
Actual
September 30, 2021
December 31, 2020
S
S
in millions
December 31, 2021
1,242.5
32.9
1,275.5
(95.1)
1,180.4 S
1,217.8
19.7
1,237.5
(129.7)
1,107.8
S
Actual
1,195.7
27.5
1,223.2
(97.9)
1,125.3
Year ended
December 31, 2020
S
S
Pro Forma
Year ended
December 31, 2021
S
4,595.9
129.1
4,725.0
(402.9)
4,322.2
S
Actual
Three months ended
March 31, 2022
4,973.2
89.5
5,062.8
(397.5)
4,665.3 S
S
1,236.0
17.9
1,254.0
141.4
1,395.3
(a) In connection with the completion of the joint venture, the opening balance sheet of the combined business was reported at its estimated fair value. As such, certain amounts were adjusted to
reflect the new basis of accounting. These transaction adjustments therefore reverse the effect of (i) deferred commissions and install costs write-off, and (ii) deferred revenue write-off.
(b) Adjusted EBITDA IFRS/US GAAP differences primarily relate to (i) the JV's investment in CTIL, (ii) leases and (iii) certain handset securitization transactions, which includes a one-time gain in Q1
2022 of approximately $233 million related to the Q1 restructuring of the legacy 02 securitization structure.
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