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Liberty Latin America Ltd. (LILA) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

Liberty Latin America Ltd.

CIK: 1712184 Ticker: LILA
lla-q4xandxfyx2021xresults.jpg
Exhibit 99.1
Liberty Latin America Reports Q4 & FY 2021 Results
Record mobile and solid fixed additions in year
FY 2021 double-digit revenue growth driven by acquisitions, 4% rebased growth
~750,000 homes passed or upgraded in 2021; 99% fiber-to-the-home
Delivered 2021 guidance for all financial and operating metrics
Strategic acquisitions with significant synergies to enhance future performance
Denver, Colorado - February 22, 2022: 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 (“FY”) ended December 31, 2021.
CEO Balan Nair commented, “The fourth quarter concluded a successful year for LLA. Despite continuing impacts from the pandemic and competitive challenges in Chile, we had strong operational performance across the rest of the group. We also made progress with the integration of our acquisitions in Puerto Rico and Costa Rica, and successfully delivered against our 2021 guidance targets.”
“High-speed connectivity is at the core of our customer offering and we invested to expand and improve our networks during the year. We added or upgraded approximately 750,000 homes passed across our operations, almost exclusively using fiber-to-the-home technology. Combining our network strength with attractive consumer propositions, we added more than 250,000 RGUs, which was over 50% higher than in the prior year. Our mobile operations delivered a particularly strong performance bolstered by the inclusion of the business we acquired in Costa Rica, as we added nearly 500,000 subscribers in 2021, of which over 25% were postpaid.”
“Our B2B operations continued to recover during the year as we utilized our high-speed and reliable subsea, terrestrial and mobile networks combined with innovative product offerings to deliver effective solutions for our customers.”
“LLA reported $4.8 billion in revenue, $81 million of operating income and $1.8 billion in Adjusted OIBDA in 2021. We grew our cash flow from operations and Adjusted Free Cash Flow during the year to $1.0 billion and $200 million, respectively, delivering our Adjusted Free Cash Flow guidance. We also increased our share repurchase activity, with $65 million spent in 2021, and today we are announcing a new program to buyback up to $200 million.”
“Overall, we were pleased with our robust operational execution and financial performance in 2021. As we look ahead to 2022, we intend to deliver further operational enhancements and financial growth, continue to progress the integrations in Puerto Rico and Costa Rica, and successfully complete the accretive transactions announced in Panama and Chile. We remain focused on driving Adjusted Free Cash Flow for the group and we are confident that the operational and strategic actions we are taking will enable a multi-year growth trajectory.”
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The following information was filed by Liberty Latin America Ltd. (LILA) on Wednesday, February 23, 2022 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

Audit Information
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
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 - Preliminary Opening Balance Sheet (Details)
Acquisitions - Reconciliation Of Purchase Price To Net Cash Paid (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)
Assets Held For Sale
Assets Held For Sale (Tables)
Assets Held For Sale - Narrative (Details)
Assets Held For Sale - Schedule Of Assets And Liabilities (Details)
Basis Of Presentation
Basis Of Presentation (Details)
Basis Of Presentation (Tables)
Basis Of Presentation - Narrative (Details)
Commitments And Contingencies
Commitments And Contingencies - Narrative (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 - 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 - Costa Rica Credit Facilities (Details)
Debt And Finance Lease Obligations - Financing And Refinancing Activity (Details)
Debt And Finance Lease Obligations - Lpr Credit Facilities (Details)
Debt And Finance Lease Obligations - Lpr Senior Secured Notes (Details)
Debt And Finance Lease Obligations - Maturities Of Debt (Details)
Debt And Finance Lease Obligations - Subsequent Event (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)
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 - Amounts Recognized In Balance Sheet (Details)
Pension Plans - Balance Sheet Information On Our Defined Benefit Plans (Details)
Pension Plans - Narrative (Details)
Programming And Other Direct Costs Of Services
Programming And Other Direct Costs Of Services (Details)
Programming And Other Direct Costs Of Services (Tables)
Restructuring Liabilities
Restructuring Liabilities (Details)
Restructuring Liabilities (Tables)
Schedule I - Parent Company Financial Information
Schedule I - Parent Company Financial Information - Condensed Balance Sheets (Details)
Schedule I - Parent Company Financial Information - Condensed Balance Sheets (Parenthetical) (Details)
Schedule I - Parent Company Financial Information - Condensed Statements Of Cash Flows (Details)
Schedule I - Parent Company Financial 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)
Subsequent Events
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: 0001712184-22-000059
Submitted to the SEC: Wed Feb 23 2022 6:25:39 AM EST
Accepted by the SEC: Wed Feb 23 2022
Period: Friday, December 31, 2021
Industry: Cable And Other Pay Television Services

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