Liberty Latin America Ltd.
For the period ended Dec 31, 2025. Filed Feb 18, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 18, 2026
LILA$8.910.0%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-K
Period ended 2024-12-31; filed 2025-02-19.
0001712184-25-000031
Item 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONSCurrent report: 10-K
Period ended 2025-12-31; filed 2026-02-18.
0001712184-26-000023
Item 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONSThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 225 previous paragraphs and 212 current paragraphs.
106 unchanged; 65 reworded; 39 added; 50 removed; 4 previous and 2 current paragraphs rearranged.
Tables are not compared: 34 previous and 34 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (39)
Current report
Hurricane Melissa
Current report
In late October 2025, the island of Jamaica was impacted by Hurricane Melissa with significant damage to homes, businesses and infrastructure, particularly in the southwest of the island and moderate damage in the northwest. The capital city, Kingston, and other urban areas in the east were less impacted.
Current report
The mobile network has proved resilient and traffic levels were quick to recover, now running back to pre-hurricane levels across the vast majority of the island. The fixed infrastructure impact was more localized: over 75% of residential customers are on-line, with the metro areas much closer to full recovery. Following our internal network review, we have removed a total of 133,000 homes in the southwest and northwest part of the island from our total homes passed. Additionally, we have reduced
Current report
II-4 our RGUs by approximately 136,000, comprised of 65,000 fixed-line telephony, 57,000 broadband internet and 14,000 video subscribers. These adjustments relate to RGUs where we currently do not expect to restore fixed services in the near term. However, our final assessment may change based upon the ultimate completion of our restoration and reconnection efforts in the impacted areas of the island.
Current report
As a result of the impact of Hurricane Melissa, we incurred lower revenue during the fourth quarter of 2025 and expect to incur lower revenue during 2026. The decrease in the fourth quarter of 2025 is predominantly due to lower fixed connectivity and reflects the provision of rebates for homes and businesses, which are offline for a period of time. We are working hard to restore connectivity, but there can be no guarantee as to the cadence of future reconnections or the pace of future revenue recovery. In addition, during 2026, we expect to incur additional property and equipment additions as we restore damaged networks.
Current report
Liberty Caribbean. Liberty Caribbean’s revenue by major category is set forth below:
Current report
The details of the changes in Liberty Caribbean’s revenue during 2025, as compared to 2024, are set forth below (in millions):
Current report
(b)The increase is primarily due to higher ARPU on broadband internet services due to price increases in certain markets. The impact of Hurricane Melissa-related credits in the current year were largely offset by the impact of Hurricane Beryl-related credits in the prior year.
Current report
(c)The decrease is due in part to (i) lower interconnect revenue attributable to lower traffic on our networks and (ii) other immaterial declines.
Current report
(e)The increase is primarily due to higher volumes of handset sales and inbound roaming.
Current report
(f)The decrease is mainly attributable to the net impact of (i) a decline in revenue from managed services, mostly related to the negative impact from Hurricane Melissa and a decrease in fixed-line telephony, which was partially offset by growth in broadband internet, and (ii) lower project-related revenue as a decline in our Bahamas market more than offset an increase in our Barbados market.
Current report
(b)The decrease is primarily due to lower ARPU from video services and fixed-line telephony, mainly due to (i) higher discounts driven by competitive market conditions and (ii) the migration of customers to lower ARPU plans.
Current report
(a)The decrease is primarily attributable to (i) lower average broadband internet and video RGUs and (ii) a negative impact from the termination of a government-sponsored program during the second quarter of 2024.
Current report
(b)The increase is primarily due to higher ARPU from broadband internet and video services, mainly due to price increases. The increase also includes the impact of credits issued to customers during the prior year following Hurricane Ernesto, which impacted Puerto Rico in August 2024.
Current report
(d)The increase is primarily driven by higher equipment sales and inbound roaming revenue.
Current report
(e)The decrease is primarily attributable to lower revenue from mobile services due mostly to the negative impacts from the migration of customers to our mobile network in 2024, which caused declines in the average number of mobile subscribers and lower mobile ARPU.
Current report
(a)The increase is primarily driven by higher average broadband internet and video RGUs.
Current report
(b)The decrease is primarily attributable to lower ARPU from video services and, to a lesser extent, from broadband internet and fixed-line telephony services.
Current report
(e)The increase is primarily attributable to the net effect of (i) higher equipment sales, mainly driven by higher volumes, and (ii) a decrease in interconnect revenue, driven by lower local traffic volume.
Current report
(f)The decrease is primarily attributable to a decline in project-related revenue.
Current report
Liberty Caribbean. The following table sets forth the organic and non-organic changes in programming and other direct costs of services for our Liberty Caribbean segment.
Current report
•Programming and copyright: The organic increase is mainly due to an increase associated with a copyright claim that was largely offset by lower rates resulting from the renegotiation of certain content agreements and lower video subscribers.
Current report
•Project-related and other: The decrease is primarily due to (i) lower government-related project costs, driven by improved margins in 2025, and (ii) a decline resulting from the renegotiation of rates on certain B2B projects.
Current report
•Programming and copyright: The organic decrease primarily relates to the net effect of (i) lower subscriber counts and customers moving to lower cost product offerings, (ii) lower programmer fees resulting from contract renegotiations and (iii) higher costs associated with rate increases.
Current report
•Interconnect: The organic decrease is primarily due to (i) lower mobile network costs generally associated with the expiration of a transition service agreement during 2024, and (ii) lower roaming costs associated with a decline in traffic.
Current report
•Interconnect: The organic decrease is primarily driven by (i) lower volumes of traffic and (ii) a decrease in roaming.
Current report
•Equipment: The organic increase is primarily attributable to higher handset unit costs.
Current report
Liberty Caribbean. The following table sets forth the organic and non-organic changes in other operating costs and expenses for our Liberty Caribbean segment.
Current report
•Network-related: The organic decrease is primarily due to the net effect of (i) cost savings initiatives, including the renegotiation of certain contract terms, (ii) an increase in various costs in Jamaica as a result of Hurricane Melissa, (iii) lower power costs primarily driven by a decrease in consumption and rates, and (iv) a decrease in asset retirement obligations.
Current report
•Commercial: The organic decrease is primarily driven by (i) cost saving initiatives, including system improvements and the renegotiation of certain contracts, and (ii) lower marketing costs.
Current report
•Facility, provision, franchise and other: The organic decrease is primarily due to the net effect of (i) the positive impact to the comparisons associated with an unfavorable adjustment on a tax-related assessment at one of our markets during the second quarter of 2024, (ii) an increase of bad debt expense, and (iii) lower facility-related costs driven by cost savings initiatives.
Current report
II-16
Current report
•Commercial: The increase is primarily due to higher commissions expense, in large part due to a shift from internal to external resources.
Current report
•Facility, provision, franchise and other: The increase is primarily due to (i) higher bad debt expense and (ii) other immaterial increases across various categories.
Current report
•Service-related: The organic increase is primarily due to software migration expenses, higher outsourcing and professional services.
Current report
Share-based compensation and other Employee Incentive Plan-related expense decreased by $9 million or 11% during 2025, as compared to 2024. The decrease is primarily driven by a 2024 modification of the legal life of outstanding SARs resulting in incremental share-based compensation expense recorded during 2024. For further discussion of this modification, see note 12 to our consolidated financial statements. The decrease is also impacted by lower grants and higher cancellations experienced, partially offset by an increase in expense associated with our LTVP.
Current report
Our depreciation and amortization expense decreased $63 million or 7% during 2025, as compared to 2024, primarily due to (i) certain assets becoming fully depreciated across markets at Liberty Caribbean, (ii) lower depreciation expense at Liberty Puerto Rico associated with the sale of research and development tax credits generated on depreciated assets and (iii) customer relationship assets becoming fully amortized in Liberty Caribbean and C&W Panama.
Current report
(a)The 2025 amount includes an impairment of $494 million on spectrum license intangible assets recorded at Liberty Puerto Rico. Additionally, during October 2025, our operations in Jamaica were significantly impacted by Hurricane Melissa resulting in extensive damage to homes, businesses and infrastructure. Based on estimates of the impacts on our operations, we recorded impairment changes of $56 million to reduce the carrying values of our property and equipment. The 2024 amount primarily relates to an impairment of goodwill recorded at Liberty Puerto Rico. For additional information associated with these impairment charges, see note 7 to our consolidated financial statements.
Removed paragraphs (50)
Previous report
Transactions and Events
Previous report
Hurricane Beryl
Previous report
In July 2024, Hurricane Beryl impacted our Jamaica operations and certain smaller operations within C&W Caribbean, resulting in varying degrees of damage to homes, businesses, and infrastructures in these markets. In connection with Hurricane Beryl, during 2024, we experienced adverse impacts to revenue and RGUs, Adjusted OIBDA, and property and equipment additions. Specifically, during 2024, Hurricane Beryl had a negative impact on revenue and Adjusted OIBDA of approximately $11 million and $14 million, respectively, which includes the positive impact from the hurricane on prepaid revenue. In addition, we incurred property and equipment additions of approximately $16 million to replace infrastructure and equipment
Previous report
II-3 that has been damaged beyond repair or to enhance network resiliency. We did not recognize any material impairments in connection with Hurricane Beryl. As a result of the hurricane, during 2024, we estimate that we lost approximately 33,000 RGUs, comprising 16,000 broadband internet subscribers, 15,000 fixed-line telephony subscribers, and 2,000 video subscribers. We also saw a positive impact from the hurricane to our prepaid mobile subscribers.
Previous report
Costa Rica Transactions
Previous report
On August 1, 2024, we announced that we entered into an agreement with Millicom to combine our respective operations in Costa Rica. Under the terms of the all-stock agreement, Liberty Latin America and our minority partner in Costa Rica will hold an approximate 86% interest and Millicom will hold an approximate 14% interest in the joint operations, with final ownership percentages to be confirmed at closing. The transaction is subject to customary closing conditions, including regulatory authorizations, and we expect the transaction to be completed during the second half of 2025.
Previous report
During August 2024, we also entered into an agreement with the noncontrolling interest owner of Liberty Costa Rica where we agreed to acquire on January 30, 2026 shares representing 8.5% of equity of Liberty Costa Rica for aggregate cash consideration of approximately $83 million, comprising CRC 22 billion ($43 million) and $40 million, with 62.5% of the purchase price due upon closing and the remaining 37.5% due on January 29, 2027.
Previous report
LPR Acquisition
Previous report
During November 2023, we entered into an agreement with EchoStar to acquire EchoStar’s prepaid business and spectrum assets in Puerto Rico and USVI in exchange for cash and international roaming credits. The aggregate cash consideration of $256 million will be paid in 4 annual installments, the first of which commenced on the closing date, September 3, 2024, and the remainder of which will be paid on the anniversary of the closing date over the next three years. On September 3, 2024, we paid the first installment of $95 million, which is reflected as cash paid for an acquisition in our consolidated statement of cash flows.
Previous report
Tower Transactions
Previous report
During November 2023, we entered into an agreement with Phoenix Tower International to monetize approximately 1,300 mobile tower sites across Panama, Jamaica, The Bahamas, Puerto Rico, Barbados, and the British Virgin Islands. We completed these transactions across most markets during 2023. During 2024 and 2023, we received proceeds of $9 million and $244 million, respectively, related to the Tower Transactions, which is recorded as debt in our consolidated financial statements. The transaction provides arrangements to extend coverage with a further 500 sites being built by Liberty Latin America and Phoenix Tower International over the next four years.
Previous report
II-4
Previous report
C&W Caribbean. C&W Caribbean’s revenue by major category is set forth below:
Previous report
The details of the changes in C&W Caribbean’s revenue during 2024, as compared to 2023, are set forth below (in millions):
Previous report
(b)The increase is primarily due to the net impact of (i) higher ARPU from broadband internet services, mainly due to price increases, (ii) lower ARPU from fixed-line telephony services, mostly due to fixed-mobile convergence efforts, and (iii) lower ARPU from video services.
Previous report
(d)The increase is mainly attributable to the net effect of (i) higher project-related revenue across various markets and (ii) an increase in fixed and managed services, despite negative impacts related to Hurricane Beryl.
Previous report
(b)The decrease is primarily due to lower ARPU from fixed-line telephony and video services, mainly driven by higher discounts and other customer retention efforts, and the migration of customers to lower ARPU plans.
Previous report
(a)The increase is primarily attributable to the net effect of (i) higher average broadband internet and fixed-line telephony RGUs and (ii) lower average video RGUs.
Previous report
(b)The decrease is primarily due to lower ARPU from broadband internet, fixed-line telephony and video services, mainly caused by the net effect of retention-related discounts that more than offset price increases during the third quarter of 2024.
Previous report
(d)The decrease is primarily driven by lower equipment sales, including the impact of the migration of customers to our mobile network during the first half of 2024.
Previous report
(e)The decrease is primarily attributable to lower revenue from mobile services, mainly driven by lower average customers due to (i) the termination of a government-sponsored program during the second quarter of 2024 and (ii) the migration of customers to our mobile network, including credits issued for billing adjustments.
Previous report
(a)The increase is primarily due to the net effect of (i) increases in the average number of broadband internet and fixed-line telephony RGUs and (ii) a decrease in the average number of video RGUs.
Previous report
(b)The decrease is due to lower ARPU across all fixed products, the largest of which is from video services. The decrease is mainly due to market competition leading to customer retention efforts and higher financed equipment sales.
Previous report
(f)The increase is primarily due to higher project-related revenue and growth in managed services.
Previous report
C&W Caribbean. The following table sets forth the organic and non-organic changes in programming and other direct costs of services for our C&W Caribbean segment.
Previous report
•Programming and copyright: The organic decrease is mainly due to (i) the impact of the renegotiation of certain content agreements, and (ii) lower video RGUs.
Previous report
•Project-related and other: The organic increase is primarily due to higher B2B project costs, primarily in the Bahamas.
Previous report
•Project-related and other: The organic decrease is primarily due to a higher mix of contracts recognized on a net basis.
Previous report
•Programming and copyright: The organic decrease is primarily due to the net effect of (i) lower average number of subscribers and (ii) rate increases.
Previous report
•Interconnect: The organic decrease is mostly due to lower interconnect costs associated with a transition service agreement that expired during 2024.
Previous report
•Equipment: The organic decrease is primarily due to the net effect of (i) lower handset sales, which includes the impact of the migration of customers to our mobile network during the first half of 2024, (ii) equipment credits for handset purchases recognized during the first half of 2023 associated with handsets purchased prior to 2023 and (iii) increases resulting from inventory adjustments during 2024 related to the migration of mobile customers to our network.
Previous report
•Programming and copyright: The organic increase is due to the net effect of (i) higher programming costs associated with an increase in video RGUs, and (ii) higher content costs driven by pricing.
Previous report
•Interconnect: The organic decrease is primarily due to lower (i) rates, (ii) volumes of long-distance and international traffic, and (iii) commission costs associated with prepaid mobile distributors.
Previous report
•Equipment: The organic increase is primarily due to the net effect of (i) higher CPE costs associated with sales growth, and (ii) higher handset costs associated with increased unit costs.
Previous report
C&W Caribbean. The following table sets forth the organic and non-organic changes in other operating costs and expenses for our C&W Caribbean segment.
Previous report
•Network-related: The organic decrease is primarily due the net effect of (i) lower power costs driven by a decrease in consumption and rates, (ii) lower costs driven by a reduction in outsourced contracts, and (iii) higher maintenance costs. In addition, this decrease was offset by the negative impact of an accrual release during 2023 related to leased line costs that resulted from the renegotiation of pole rental contracts.
Previous report
•Service-related: The organic decrease is primarily due to declines in professional services associated with the renegotiation or termination of certain vendor contracts.
Previous report
•Facility, provision, franchise and other: The organic increase is primarily due to the net effect of (i) higher bad debt expense across various markets that was partially offset by the recovery of amounts from a large customer, (ii) lower facilities costs associated with the Tower Transactions, (iii) higher costs associated with Hurricane Beryl-related
Previous report
II-16 restoration efforts, and (iv) higher franchise fees. In addition, the organic increase includes the negative impact associated with a tax-related assessment received in one of our markets during 2024.
Previous report
•Commercial: The increase is primarily due to higher marketing and commissions expense associated with efforts to obtain customers from a competitor following their exit from the market.
Showing the first 40 of 50 passages. Open the source sections for the rest.
Reworded paragraphs (65)
Previous wording
A discussion regarding our financial condition and results of operations for the year ended December 31, 2023 compared with the year ended December 31, 2022 can be found under captions entitled “Results of Operations” and “Liquidity and Capital Resources” in the section entitled “Item 7 - Management’s Discussion and Analysis of Financial Condition and Results of Operations” of our annual report on Form 10-K for the year ended December 31, 2023 filed with the SEC on February 22, 2024, which is available free of charge through the SEC’s website at www.sec.gov or the Company’s website, https://investors.lla.com/financials/sec-filings. The Company’s website and the information contained therein, or incorporated therein, are not intended to be incorporated into this Annual Report on Form 10-K.
Current wording
A discussion regarding our financial condition and results of operations for the year ended December 31, 2024 compared with the year ended December 31, 2023 can be found under captions entitled “Results of Operations” and “Liquidity and Capital Resources” in the section entitled “Item 7 - Management’s Discussion and Analysis of Financial Condition and Results of Operations” of our annual report on Form 10-K for the year ended December 31, 2024 filed with the SEC on February 19, 2025, which is available free of charge through the SEC’s website at www.sec.gov or our company’s website, https://investors.lla.com/financials/sec-filings. Our company’s website and the information contained therein, or incorporated therein, are not intended to be incorporated into this Annual Report on Form 10-K.
Previous wording
i. over 20 countries across Latin America and the Caribbean through two of our reportable segments, C&W Caribbean and C&W Panama;
Current wording
i. over 20 countries across Latin America and the Caribbean through two of our reportable segments, Liberty Caribbean and C&W Panama;
Previous wording
At December 31, 2024, we (i) owned and operated fixed networks that passed 4,735,700 homes and served 3,987,600 RGUs comprising 1,828,200 broadband internet subscribers, 921,900 video subscribers and 1,237,500 fixed-line telephony subscribers, and (ii) served 8,054,300 mobile subscribers.
Current wording
At December 31, 2025, we (i) owned and operated fixed networks that passed 4,692,600 homes and served 3,836,600 RGUs comprising 1,746,500 broadband internet subscribers, 901,000 video subscribers and 1,189,100 fixed-line telephony subscribers, and (ii) served 6,794,000 mobile subscribers.
Previous wording
Hurricane Beryl triggered a payment pursuant to coverage under our Weather Derivatives, which resulted in net proceeds of $44 million during 2024. The payment is reflected as a derivative gain in our consolidated statement of operations and as a cash inflow related to operating activities in our consolidated statement of cash flows.
Current wording
For the fourth quarter of 2025, the negative impact to revenue and Adjusted OIBDA was approximately $20 million and $27 million, respectively, and we incurred incremental property and equipment additions of approximately $17 million as a result of Hurricane Melissa. Additionally, Hurricane Melissa triggered a payment pursuant to coverage under our Weather Derivatives that resulted in net proceeds after our deductible of $81 million during the year. The payment was reflected as a derivative gain in our consolidated statement of operations and a cash inflow related to operating activities in our consolidated statement of cash flows.
Previous wording
The following table sets forth the organic and non-organic changes in the components of operating income or loss during 2024, as compared to 2023.
Current wording
The following table sets forth the organic and non-organic changes in the components of operating income (loss) during 2025, as compared to 2024.
Previous wording
As reflected in the table above, we reported an operating loss during 2024, as compared to operating income during 2023. For further discussion and analysis of organic changes in revenue and costs, see Revenue, Programming and Other Direct Costs of Services, and Other Operating Costs sections below. For further discussion and analysis of changes in Depreciation and amortization, and Impairment, Restructuring and other operating items, net, see Results of Operations (below Adjusted OIBDA)sections below.
Current wording
As reflected in the table above, we reported an operating income during 2025, as compared to operating loss during 2024. For further discussion and analysis of organic changes in revenue and costs, see Revenue, Programming and Other Direct Costs of Services, and Other Operating Costs and Expenses sections below. For further discussion and analysis of changes in Depreciation and amortization, and Impairment, Restructuring and other operating items, net, see Results of Operations (below Adjusted OIBDA)sections below.
Previous wording
Adjusted OIBDA margin is impacted by organic changes in revenue, programming and other direct costs of services and other operating costs and expenses. We incurred aggregate integration costs (i) during 2024 of $17 million within our Liberty Puerto Rico segment, and (ii) during 2023, of $26 million within our Liberty Puerto Rico, Liberty Costa Rica and C&W Panama segments.
Current wording
Adjusted OIBDA margin is impacted by organic changes in revenue, programming and other direct costs of services and other operating costs and expenses. At our Liberty Puerto Rico segment, we incurred aggregate integration costs of $17 million during 2024, and amounts incurred during 2025 were immaterial.
Previous wording
Variances in the subscription revenue that we receive from our customers are a function of (i) changes in the number of RGUs or mobile subscribers during the period and (ii) changes in ARPU. Changes in ARPU can be attributable to (i) changes in prices, (ii) changes in bundling or promotional discounts, (iii) changes in the tier of services selected, (iv) variances in subscriber usage patterns and (v) the overall mix of fixed and mobile products during the period. In the following discussion, we discuss ARPU changes in terms of the net impact of the above factors on the ARPU that is derived from our video, broadband internet, fixed-line telephony and mobile products.
Current wording
Variances in the subscription revenue that we receive from our customers are a function of (i) changes in the number of RGUs or mobile subscribers during the period and (ii) changes in ARPU. Changes in ARPU can generally be attributable to (i) changes in prices, (ii) changes in bundling or promotional discounts, (iii) changes in the tier of services selected, (iv) variances in subscriber usage patterns and (v) the overall mix of fixed and mobile products during the period. In the following discussion, we discuss ARPU changes in terms of the net impact of the above factors on the ARPU that is derived from our video, broadband internet, fixed-line telephony and mobile products.
Previous wording
(a)The decrease is primarily due to the net effect of (i) lower average video and fixed-line telephony RGUs and (ii) higher average broadband internet RGUs.
Current wording
(a)The decrease is primarily due to lower average video, broadband internet and fixed-line telephony RGUs, mainly driven by the impact of Hurricane Melissa.
Previous wording
(c)The increase is primarily attributable to the net impact of (i) higher average numbers of postpaid mobile subscribers, mostly due to growth from fixed-mobile convergence efforts, (ii) an increase in prepaid ARPU resulting from price increases implemented during the third quarter of 2023 and the first quarter of 2024, and (iii) lower average numbers of prepaid mobile subscribers.
Current wording
(d)The increase is primarily attributable to the net effect of (i) an increase in prepaid mobile ARPU mainly resulting from price increases in Jamaica during the first quarter of 2024 and during 2025 as well as increased demand following Hurricane Melissa, (ii) higher average numbers of postpaid mobile subscribers, mostly due to growth from fixed-mobile convergence efforts, and (iii) lower average number of prepaid mobile subscribers, due in part to fixed-mobile convergence efforts and churn associated with price increases.
Previous wording
(c)The increase is primarily due to the net effect of (i) higher ARPU from prepaid mobile services, (ii) lower average numbers of prepaid mobile subscribers, and (iii) higher average numbers of postpaid mobile subscribers. The decrease in prepaid mobile subscribers is mainly driven by the impact of churn related to the migration of customers to our network following the Claro Panama Acquisition. This decrease was partially offset by the addition of customers to our base following the exit of a competitor from our market, which positively impacted both our prepaid and postpaid base. The increase in prepaid mobile ARPU is primarily due to higher ARPU packages offered to customers.
Current wording
(c)The increase is primarily due to higher average postpaid and prepaid mobile subscribers, driven in part by the addition of customers to our base following the exit of a competitor from our market during the first quarter of 2024.
Previous wording
(e)The increase is primarily attributable to the net effect of (i) higher volumes of equipment sales at higher unit prices, and (ii) lower interconnect revenue driven by a reduction in rates and lower volumes of traffic.
Current wording
(d)The increase is primarily due to higher volumes of handset sales at higher unit prices.
Previous wording
(e)The decrease is primarily due to the net effect of (i) lower revenue from government-related projects and (ii) higher revenue from fixed and managed services, primarily broadband internet services.
Current wording
(e)The increase is primarily attributable to (i) higher project-related revenue, with the majority stemming from government projects, and (ii) lower revenue from fixed and managed services, primarily related to lower out-of-plan usage and disconnects on fixed B2B voice customers.
Previous wording
(a)The increase is primarily attributable to the net effect of (i) growth in managed services, (ii) higher B2B connectivity revenue, and (iii) a decrease associated with sales-type leases on CPE installed on long-term customer solutions, due mostly to a higher mix of contracts recognized on a net basis.
Current wording
(a)The increase is primarily attributable to the net effect of (i) growth in managed services, (ii) lower revenue associated with sales-type leases on CPE and (iii) higher B2B connectivity revenue.
Previous wording
(b)The decrease is primarily due to (i) lower amortized prepaid capacity and operating and maintenance revenue driven by the cancellation of prepaid capacity contracts in prior periods, (ii) a decrease in non-recurring revenue related to a sales-type lease recognized during 2023 and (iii) a net decrease in revenue associated with the recognition of deferred revenue and penalties upon the termination or modification of prepaid capacity contracts during 2023 and 2024.
Current wording
(b)The increase is primarily due to the net effect of (i) higher project-related revenue, primarily associated with a contract to construct and deploy a subsea cable system, (ii) higher subsea capacity revenue, (iii) lower revenue associated with the recognition of deferred revenue and penalties upon the termination of a prepaid capacity contract during the second quarter of 2024, and (iv) lower revenue from prepaid capacity arrangements driven by the cancellation of prepaid capacity contracts in the prior period.
Previous wording
(c)The decrease is primarily due to a decline in the average number of mobile subscribers impacted by the migration of customers to our mobile network and network challenges in 2024 and lower postpaid mobile ARPU.
Current wording
(c)The decrease is primarily due to the negative impacts from the migration of customers to our mobile network and network challenges in 2024, which caused a decline in the average number of postpaid mobile subscribers and lower postpaid mobile ARPU.
Previous wording
(f)The decrease is primarily driven by the net impact of (i) declines in the rate of funding beginning in each of June 2023 and 2024 related to funds from the FCC that we use to expand and improve our fixed and mobile networks, and (ii) a grant from the NTIA to fund network infrastructure to remote and underserved communities.
Current wording
(f)The decrease is primarily attributable to (i) a decline in the rate of funding in June 2024 related to funds from the FCC that we use to expand and improve our fixed and mobile networks, and (ii) a decrease in funding related to a grant from the NTIA to fund network infrastructure to remote and underserved communities.
Previous wording
(d)The increase is primarily due to the net effect of (i) higher average postpaid mobile subscribers and (ii) lower prepaid mobile ARPU.
Current wording
(d)The increase is primarily due to the net effect of (i) higher average postpaid mobile subscribers, (ii) lower prepaid ARPU and, to a lesser extent, lower postpaid mobile ARPU and (iii) lower average prepaid mobile subscribers.
Previous wording
Programming and other direct costs of services include programming and copyright costs, interconnect and access costs, equipment costs, which primarily relate to costs of mobile handsets and other devices, B2B project-related costs and other direct costs related to our operations.
Current wording
Programming and other direct costs of services include programming and copyright costs, interconnect and access costs, equipment costs, which primarily relate to costs of mobile handsets and other devices, project-related costs and other direct costs related to our operations.
Previous wording
•Interconnect: The organic decrease is primarily due to lower rates resulting from the renegotiation of a contract.
Current wording
•Interconnect: The organic decrease is primarily due to (i) lower rates, including the renegotiation of a contract, and (ii) lower overall volumes of traffic.
Previous wording
•Equipment: The organic increase is primarily due to the net effect of (i) higher B2B project-related equipment costs and (ii) lower handset costs.
Current wording
•Equipment: The organic decrease is mainly due to (i) lower handset costs and (ii) lower B2B equipment costs.
Previous wording
•Project-related and other: The organic increase is primarily due to higher costs associated with portability and identity protection services.
Current wording
•Project-related and other: The organic increase is primarily due to higher costs associated with incentives to customers in an effort to drive fixed-mobile convergence.
Previous wording
•Equipment: The increase is primarily attributable to (i) higher volumes of handset sales, mostly to B2B customers, and (ii) higher unit costs associated with handset sales to residential customers.
Current wording
•Equipment: The increase is primarily attributable to higher volumes of handset sales to residential and B2B customers.
Previous wording
•Interconnect: The organic decrease is primarily due to (i) lower backhaul expenses and (ii) lower inter-segment costs.
Current wording
•Interconnect: The organic increase is primarily due to (i) higher backhaul expenses, and (ii) higher license cost.
Previous wording
•Project-related and other: The decrease is primarily due to lower costs associated with certain government-related projects.
Current wording
•Project related and other: The organic decrease is due to lower costs associated with B2B projects.
Previous wording
Other operating costs and expenses set forth in the table below comprise the following cost categories:
Current wording
Other operating costs and expenses comprise the following cost categories:
Previous wording
•Facility, provision, franchise and other, which primarily includes facility-related costs, provision for bad debt expense, franchise-related fees, bank fees, insurance, vehicle-related, travel and entertainment and other operating-related costs; and
Current wording
•Facility, provision, franchise and other, which primarily includes facility-related costs, provision for bad debt expense, franchise-related fees, bank fees, insurance, vehicle-related costs, travel and entertainment and other operating-related costs; and
Previous wording
•Share-based compensation and other Employee Incentive Plan-related expense that relates to (i) equity awards issued to our employees and Directors, (ii) certain bonus-related expenses that are paid in the form of equity and (iii) our LTVP, whether settled in common shares or cash.
Current wording
•Share-based compensation and other Employee Incentive Plan-related expense that relates to (i) equity awards issued to our employees and Directors, (ii) certain bonuses that are paid in the form of equity and (iii) our LTVP, whether settled in common shares or cash.
Previous wording
•Personnel and contract labor: The decrease is primarily due to lower headcount levels following the execution of certain restructuring plans.
Current wording
•Personnel and contract labor: The decrease is primarily due to (i) lower headcount levels following the execution of certain restructuring plans and (ii) lower commissions.
Previous wording
•Commercial: The organic decrease is primarily due to lower (i) call center costs, and (ii) marketing expenses.
Current wording
•Network-related: The decrease is primarily due to lower (i) power-related utility costs and (ii) lease costs.
Previous wording
•Network-related: The organic increase is primarily related to higher maintenance costs.
Current wording
•Personnel and contract labor: The organic increase is primarily related to higher salary and bonus-related expenses.
Previous wording
•Facility, provision, franchise and other: The organic increase is primarily due to higher bad debt expense, mostly driven by adjustments for two large customers during 2024.
Current wording
•Facility, provision, franchise and other: The organic decrease is primarily due to lower bad debt expense, mostly associated with the negative impact of adjustments made for two large customers during 2024.
Previous wording
•Personnel and contract labor: The organic decrease is primarily due to (i) lower salaries and related personnel costs driven by a reduction in headcount associated with restructuring plans, and (ii) an increase in capitalized labor.
Current wording
•Personnel and contract labor: The organic decrease is primarily due to (i) lower salaries and related personnel costs, driven by reductions in headcount associated with restructuring plans, (ii) an increase to capitalized labor cost, and (iii) the impact associated with the sale of research and development tax credits generated on personnel costs at Liberty Puerto Rico.
Previous wording
•Network-related: The organic decrease is primarily due to the net effect of (i) the termination of a transition service agreement during the first half of 2024, (ii) lower network maintenance expenses, (iii) higher vendor credits and related incentives and (iv) higher pole rental costs.
Current wording
•Network-related: The organic decrease is primarily due to the termination of a transition service agreement during the first half of 2024 offset by higher network repair and other costs during 2025.
Previous wording
•Service-related: The organic increase is primarily due to the net impact of (i) an increase in information technology service and license expenses, as we have transitioned mobile customers acquired from AT&T to our internal systems, and (ii) lower service-related integration costs associated with the migration of customers to our mobile network following the AT&T Acquisition.
Current wording
•Service-related: The organic decrease is primarily due to (i) costs incurred during 2024 associated with (a) a transition service agreement that was terminated during 2024 and (b) service-related integration costs related to the migration of customers to our mobile network following the AT&T Acquisition, and (ii) a decrease associated with lower information technology software costs.
Previous wording
•Commercial: The organic increase is primarily driven by higher call center costs that were only partially offset by lower marketing expenses.
Current wording
•Commercial: The organic decrease is primarily driven by lower marketing and call center costs.
Previous wording
•Facility, provision, franchise and other: The organic increase is primarily due to the net effect of (i) higher bad debt expense impacted by billing and collection issues experienced during and following the migration of customers to our mobile network and associated systems, and higher expected credit losses on amounts due under EIPs for customers that have churned, (ii) increased collection costs, (iii) a decrease due to the substantial termination of a transition services agreement during the first half of 2024, (iv) lower facility costs, including utilities, (v) lower company vehicle expenses and (vi) a decrease in bank and franchise fees.
Current wording
•Facility, provision, franchise and other: The organic decrease is primarily due to lower bad debt expense as we incurred significant charges during 2024 due to the impact of billing and collection issues experienced during and following the migration of customers to our mobile network and associated systems.
Previous wording
•Personnel and contract labor: The increase is primarily due to (i) higher bonus-related expense and (ii) lower capitalized labor.
Current wording
•Personnel and contract labor: The increase is primarily due to (i) higher bonus-related expense, (ii) higher headcount and (iii) lower capitalized labor.
Previous wording
•Service-related: The increase is primarily due to the net effect of higher professional services costs and other insignificant changes across other service-related cost categories.
Current wording
•Service-related: The increase is primarily due to higher professional services costs.
Previous wording
(b)The amounts include employee severance and termination costs related to reorganization activities at (i) C&W Panama and Liberty Puerto Rico for 2024, and (ii) C&W Caribbean and C&W Panama for 2023.
Current wording
(b)The amounts include employee severance and termination costs related to reorganization activities mainly at (i) C&W Panama, Liberty Puerto Rico and Corporate Operations for 2025, and (ii) C&W Panama for 2024.
Showing the first 40 of 65 pairs. Open the source sections for the rest.
Rearranged current paragraphs (2)
Current report — wording carried from elsewhere
•Personnel and contract labor: The organic decrease is primarily due to lower headcount.
Current report — wording carried from elsewhere
•Facility, provision, franchise and other: The organic increase is primarily due to higher bad debt expense.
Rearranged previous paragraphs (4)
Previous report — wording carried elsewhere
(d)The increase is primarily due to higher volumes of handset sales.
Previous report — wording carried elsewhere
•Project-related and other: The organic increase is primarily due to higher project-related costs.
Previous report — wording carried elsewhere
(a)Represents the amount held by Liberty Latin America on a standalone basis.
Previous report — wording carried elsewhere
II-23 acquisitions and other investment opportunities, (iv) the repurchase of debt securities, (v) tax payments or (vi) any funding requirements of our consolidated subsidiaries.