v3.25.2
Derivative Instruments (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Values of Our Derivative Instrument Assets and Liabilities
The following table provides details of the fair values of our derivative instrument assets and liabilities:
 June 30, 2025December 31, 2024
 CurrentLong-term (a)TotalCurrentLong-term (a)Total
 in millions
Assets - interest rate derivative contracts (b)$65.6 $55.1 $120.7 $81.3 $109.2 $190.5 
Liabilities (b):
Interest rate derivative contracts$16.7 $47.2 $63.9 $38.0 $8.5 $46.5 
Foreign currency forward contracts7.4 0.7 8.1 10.6 — 10.6 
Total$24.1 $47.9 $72.0 $48.6 $8.5 $57.1 
(a)Our long-term derivative assets and long-term derivative liabilities are included in other assets, net and other long-term liabilities, respectively, in our condensed consolidated balance sheets.
(b)We consider credit risk relating to our nonperformance and the nonperformance of our counterparties in the fair value assessment of our derivative instruments. In all cases, the adjustments take into account offsetting liability or asset positions within each of our primary borrowing groups (see note 10) and are recorded in realized and unrealized gains or losses on derivative instruments, net, in our condensed consolidated statements of operations. For further information regarding our fair value measurements, see note 3.
Schedule of Realized and Unrealized Gains on Derivative Instruments, Net
The details of our realized and unrealized gains (losses) on derivative instruments, net, are as follows:
Three months ended June 30,Six months ended June 30,
 2025202420252024
 in millions
Interest rate derivative contracts$(16.8)$24.7 $(67.9)$85.9 
Foreign currency forward contracts0.1 6.5 (3.5)(0.7)
Weather Derivatives(8.0)(7.3)(16.2)(14.9)
Total$(24.7)$23.9 $(87.6)$70.3 
Schedule of Classification of the Net Cash Inflows of Our Derivative Instruments
The following table sets forth the classification of the net cash inflows of our derivative instruments:
 Six months ended June 30,
 20252024
 in millions
Operating activities $13.0 $43.3 
Investing activities(0.9)(0.5)
Total$12.1 $42.8 
Schedule of Derivative Instruments 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, 2025:
Borrowing groupNotional amount due from counterpartyWeighted average remaining life
 
in millionsin years
C&W (a)$3,630.0 4.0
Liberty Puerto Rico$500.0 2.3
(a)Includes forward-starting derivative instruments and, on certain interest rate swaps, embedded floors of 0%.
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 basis swap contracts at June 30, 2025:
Borrowing groupNotional amount due from counterpartyWeighted average remaining life
 
in millionsin years
C&W$590.0 0.5
Liberty Puerto Rico$620.0 0.5