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Liberty Latin America Ltd. (LILA) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Liberty Latin America Ltd.

CIK: 1712184 Ticker: LILA
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Exhibit 99.1
Liberty Latin America Reports Fiscal 2020 Results
Continued sequential quarterly financial improvement
Strong RGU additions driven by C&W and Puerto Rico
Integration of AT&T's Puerto Rico and USVI operations progressing well
Delivered robust cash flow from operations and Adjusted FCF in 2020
Denver, Colorado - February 28, 2021: Liberty Latin America Ltd. (“Liberty Latin America” or “LLA”) (NASDAQ: LILA and LILAK, OTC Link: LILAB) today announced its financial and operating results for the three months (“Q4”) and fiscal year (“2020” or “FY 2020”) ended December 31, 2020.
CEO Balan Nair commented, “Operating and financial results for the group continued to improve in the seasonally strong fourth quarter. Our markets are steadily recovering from the adverse impacts of COVID-19, however the environment remains challenging, and, given the circumstances, we were pleased to deliver robust, positive adjusted free cash flow in 2020.”
“A consistent theme during the year has been growing demand for our high-speed broadband services and this drove subscriber additions across both C&W segments and Puerto Rico during the fourth quarter, where we added over 90,000 organic RGUs in aggregate, nearly 70% more adds than Q4 2019. In Chile, we halved the number of subscriber losses in Q4 compared to Q3, as we stabilized network performance and invested in customer service initiatives, and we expect further improvement through 2021. Mobile product performance continues to improve as mobility levels increase across most of our markets.”
“Our unique combination of subsea, terrestrial fiber and mobile networks position us well to deliver leading connectivity solutions and we continue to invest across our footprint. In 2020, we upgraded or passed approximately 400,000 homes, with over 80% using fiber-to-the-home technology, and we have exciting plans to bring high-speed connectivity to more customers in 2021, aiming to upgrade or pass approximately 600,000 homes.”
“For the year, we reported $3.8 billion in revenue, $92 million of operating income and $1.5 billion in adjusted OIBDA. COVID-19 negatively impacted our financial performance overall, particularly across our mobile and B2B operations, however we produced improving results through the year and sequential revenue, operating income and adjusted OIBDA growth in Q4.”
“We remain active and disciplined in pursuing our inorganic strategy. The businesses we acquired from AT&T finished the year well and we are on-track with our integration plans, including the launch of some exciting new propositions for our customers in 2021. We are continuing to work towards a summer completion of the acquisition of Telefónica's Costa Rica assets.”
“Overall, despite headwinds due to COVID-19, our operations and connectivity-based product offerings proved resilient in 2020. As we look to 2021, we are focused on delivering top-line growth as markets continue to recover, expanding our high-speed networks through aggressive new build programs, integrating our operations in Puerto Rico to create attractive converged propositions, and generating adjusted free cash flow over 30% higher than in 2020.”
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The following information was filed by Liberty Latin America Ltd. (LILA) on Monday, March 1, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Equity
Consolidated Statements Of Operations
Accounting Changes And Recent Accounting Pronouncements
Accounting Changes And Recent Accounting Pronouncements (Details)
Accounting Changes And Recent Accounting Pronouncements (Tables)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Tables)
Accumulated Other Comprehensive Loss - Changes In Components Of Accumulated Other Comprehensive Earnings (Loss) (Details)
Accumulated Other Comprehensive Loss - Components Of Other Comprehensive Earnings (Loss) (Details)
Acquisitions And Disposition
Acquisitions And Disposition (Tables)
Acquisitions And Disposition - Accounting Purchase Price (Details)
Acquisitions And Disposition - Narrative (Details)
Acquisitions And Disposition - Pro Forma Information (Details)
Acquisitions And Disposition - Schedules (Details)
Basis Of Presentation
Basis Of Presentation (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Commitments (Details)
Debt And Finance Lease Obligations
Debt And Finance Lease Obligations (Tables)
Debt And Finance Lease Obligations - C&Amp;W Credit Facilities (Details)
Debt And Finance Lease Obligations - C&Amp;W Notes (Details)
Debt And Finance Lease Obligations - Cabletica Credit Facilities (Details)
Debt And Finance Lease Obligations - Components Of Debt (Details)
Debt And Finance Lease Obligations - Components Of Debt - Narrative (Details)
Debt And Finance Lease Obligations - Convertible Notes (Details)
Debt And Finance Lease Obligations - Lpr Bank Facility (Details)
Debt And Finance Lease Obligations - Maturities Of Debt (Details)
Debt And Finance Lease Obligations - Vtr Credit Facilities (Details)
Debt And Finance Lease Obligations - Vtr Finance Senior Notes (Details)
Derivative Instruments
Derivative Instruments (Tables)
Derivative Instruments - Cross-Currency Derivative Contracts (Details)
Derivative Instruments - Fair Values Of Derivative Assets And Liabilities (Details)
Derivative Instruments - Interest Rate Derivative Contracts (Details)
Derivative Instruments - Narrative (Details)
Derivative Instruments - Net Cash Received (Paid) Related To Derivatives (Details)
Derivative Instruments - Realized And Unrealized Gains (Losses) On Derivatives (Details)
Equity
Equity (Tables)
Equity - Narrative (Details)
Equity - Schedule (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Changes In Valuation Allowance (Details)
Income Taxes - Deferred Tax Assets And Liabilities (Details)
Income Taxes - Earnings (Loss) Before Income Taxes (Details)
Income Taxes - Effective Income Tax Rate Reconciliation (Details)
Income Taxes - Income Tax Benefit (Expense) (Details)
Income Taxes - Narrative (Details)
Income Taxes - Net Deferred Tax Liability (Details)
Income Taxes - Tax Loss Carryforwards And Related Tax Assets (Details)
Income Taxes - Unrecognized Tax Benefits (Details)
Insurance Recoveries
Insurance Recoveries (Details)
Insurance Recoveries (Tables)
Investments
Investments (Details)
Leases
Leases (Tables)
Leases - Future Minimum Payments Of Maturity (Details)
Leases - Operating Lease Assets And Liabilities (Details)
Leases - Operating Lease Expense (Details)
Long-Lived Assets
Long-Lived Assets (Tables)
Long-Lived Assets - Future Amortization Expense (Details)
Long-Lived Assets - Goodwill (Details)
Long-Lived Assets - Impairment Charges (Details)
Long-Lived Assets - Intangible Assets Not Subject To Amortization (Details)
Long-Lived Assets - Intangible Assets Subject To Amortization, Net (Details)
Long-Lived Assets - Property And Equipment, Net (Details)
Other Operating Costs And Expenses
Other Operating Costs And Expenses (Details)
Other Operating Costs And Expenses (Tables)
Pension Plans
Pension Plans (Tables)
Pension Plans - Actuarial Loss Recognized (Details)
Pension Plans - Amounts Recognized In Balance Sheet (Details)
Pension Plans - Asset Allocation (Details)
Pension Plans - Assumptions Used, Risk And Sensitivity Analysis (Details)
Pension Plans - Expected Benefit Payments (Details)
Pension Plans - Funded Status (Details)
Pension Plans - Narrative (Details)
Pension Plans - Net Periodic Pension Cost (Benefit) (Details)
Pension Plans - Plan Assets, Level 3 (Details)
Programming And Other Direct Costs Of Services
Programming And Other Direct Costs Of Services (Details)
Programming And Other Direct Costs Of Services (Tables)
Quarterly Financial Information (Unaudited)
Quarterly Financial Information (Unaudited) (Details)
Quarterly Financial Information (Unaudited) (Tables)
Restructuring Liabilities
Restructuring Liabilities (Details)
Restructuring Liabilities (Tables)
Schedule I - Parent Company Information
Schedule I - Parent Company Information - Condensed Balance Sheets (Details)
Schedule I - Parent Company Information - Condensed Balance Sheets - Parenthetical (Details)
Schedule I - Parent Company Information - Condensed Statements Of Cash Flows (Details)
Schedule I - Parent Company Information - Condensed Statements Of Operations (Details)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Geographic Segments (Details)
Segment Reporting - Narrative (Details)
Segment Reporting - Performance Measures (Details)
Segment Reporting - Property And Equipment Additions Of Our Reportable Segments (Details)
Segment Reporting - Reconciliation Of Operating Cash Flow To Earnings From Continuing Operations (Details)
Segment Reporting - Revenue By Major Category (Details)
Share-Based Compensation
Share-Based Compensation (Tables)
Share-Based Compensation - Assumptions Used (Details)
Share-Based Compensation - Narrative (Details)
Share-Based Compensation - Rsus And Psus (Details)
Share-Based Compensation - Sars (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Changes In Notes Receivable Allowance For Credit Losses (Details)
Summary Of Significant Accounting Policies - Changes In Trade Receivables Allowance For Credit Losses (Details)
Summary Of Significant Accounting Policies - Contract Assets, Deferred Contract Costs And Deferred Revenue (Details)
Summary Of Significant Accounting Policies - Earnings (Loss) Per Share (Details)
Summary Of Significant Accounting Policies - Narrative (Details)
Summary Of Significant Accounting Policies - Operating Leases (Details)
Summary Of Significant Accounting Policies - Revenue Recognition (Details)
Ticker: LILA
CIK: 1712184
Form Type: 10-K Annual Report
Accession Number: 0001712184-21-000031
Submitted to the SEC: Mon Mar 01 2021 6:50:27 AM EST
Accepted by the SEC: Mon Mar 01 2021
Period: Thursday, December 31, 2020
Industry: Cable And Other Pay Television Services

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