$GLIBB

Liberty Capital Corp/NV

CIK:0002057463|SEC Filings

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
Condensed Consolidated Statements of Operations
Revenue	$ 261	$ 261	$ 517	$ 527
Revenue from Contract with Customer, Product and Service [Extensible Enumeration]	us-gaap:ServiceMember	us-gaap:ServiceMember	us-gaap:ServiceMember	us-gaap:ServiceMember
Operating costs and expenses:
Operating expense (exclusive of depreciation and amortization)	$ 137	$ 128	$ 269	$ 253
Selling, general and administrative expense (including stock-based compensation)	35	30	74	60
Depreciation and amortization	56	52	108	105
Acquisition costs	4		7
Total operating costs and expenses	232	210	458	418
Operating income (loss)	29	51	59	109
Other income (expense):
Interest expense (including amortization of deferred loan fees)	(12)	(12)	(20)	(22)
Other, net	6	2	10	3
Total other income (expense)	(6)	(10)	(10)	(19)
Earnings (loss) before income taxes	23	41	49	90
Income tax benefit (expense)	(7)	(14)	(15)	(28)
Net earnings (loss)	$ 16	$ 27	$ 34	$ 62
Basic net earnings (loss) attributable to Series A, Series B and Series C GCI Group shareholders per common share (note 2)	$ 0.4	$ 0.87	$ 0.85	$ 2
Diluted net earnings (loss) attributable to Series A, Series B and Series C GCI Group shareholders per common share (note 2)	$ 0.4	$ 0.87	$ 0.85	$ 2

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)	$ 34	$ 62
Adjustments to reconcile net earnings (loss) to net cash from operating activities:
Depreciation and amortization	108	105
Stock-based compensation	15	7
Deferred income tax expense (benefit)	14	(6)
Other, net	(2)	(2)
Change in other assets and liabilities:
Decrease (increase) in accounts receivable	11	52
Amortization of right-of-use asset	24	24
Decrease (increase) in other assets	(9)	9
(Decrease) increase in operating lease liabilities	(25)	(28)
(Decrease) increase in taxes payable		16
(Decrease) increase in payables and other liabilities	(6)	(13)
Net cash provided by (used in) operating activities	164	226
Cash flows from investing activities:
Cash paid for acquisitions, net of cash acquired	(11)
Loan to Quintillion (note 1)	(160)
Capital expenditures	(130)	(119)
Grant proceeds received for capital expenditures	5	19
Purchase of investments	(107)
Sale of investments	107
Other investing activities, net		6
Net cash provided by (used in) investing activities	(296)	(94)
Cash flows from financing activities:
Borrowings of debt	464	691
Repayment of debt and tower obligations	(244)	(775)
Other financing activities, net	(7)	(6)
Net cash provided by (used in) financing activities	213	(90)
Net increase (decrease) in cash, cash equivalents and restricted cash	81	42
Cash, cash equivalents and restricted cash, beginning of period	429	75
Cash, cash equivalents and restricted cash, end of period	$ 510	$ 117

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 497	$ 416
Trade and other receivables, net of allowance for credit losses of $4 and $4, respectively	131	141
Prepaid and other current assets	60	58
Total current assets	688	615
Property and equipment, net	1,313	1,257
Goodwill	648	638
Total Intangible assets not subject to amortization	822	812
Intangible assets subject to amortization, net (note 4)	355	372
Deferred income tax assets	21	31
Other assets, net	320	147
Total assets	3,519	3,234
Current liabilities:
Accounts payable and accrued liabilities	127	123
Deferred revenue	24	23
Current portion of debt (note 5)	7	4
Other current liabilities	46	46
Total current liabilities	204	196
Long-term debt, net (note 5)	1,200	979
Obligations under tower obligations	61	69
Long-term deferred revenue	131	130
Other liabilities	170	154
Total liabilities	1,766	1,528
Redeemable noncontrolling interest in equity of subsidiary	18	18
Member's equity:
Additional paid-in capital	2,373	2,360
Retained earnings (deficit)	(638)	(672)
Total equity	1,735	1,688
Commitments and contingencies (note 7)
Total liabilities and equity	3,519	3,234
Series A GCI Group common stock
Member's equity:
Common stock value
Series B GCI Group common stock
Member's equity:
Common stock value
Series C GCI Group common stock
Member's equity:
Common stock value
Cable certificates
Current assets:
Indefinite lived intangible assets (excluding goodwill)	149	149
Other
Current assets:
Indefinite lived intangible assets (excluding goodwill)	$ 25	$ 25