Company: LILA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001712184-25-000137
Chunk: 33

Company: Liberty Latin America Ltd.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 2
Chunk 33
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Foreign currency transaction gains or losses, net

Our foreign currency transaction gains or losses primarily result from the remeasurement of monetary assets and liabilities that are denominated in currencies other than the underlying functional currency of the applicable entity. Unrealized foreign currency transaction gains or losses are computed based on period-end exchange rates and are non-cash in nature until such time as the amounts are settled. The details of our foreign currency transaction losses, net, are as follows:

 Three months ended June 30,Six months ended June 30, 2025202420252024 in millionsU.S. dollar-denominated debt issued by non-U.S. dollar functional currency entities (a)$(6.3)$(22.7)$1.9 $(4.1)Intercompany payables and receivables denominated in a currency other than the entity’s functional currency(10.9)(15.7)(13.7)(11.8)Other (b) ...............….(15.8)(8.0)(25.4)(7.2)Total$(33.0)$(46.4)$(37.2)$(23.1)

(a)The changes are primarily related to a CRC functional currency entity.

(b)Primarily includes (i) losses upon conversion of foreign currency assets and (ii) third-party receivables and payables denominated in a currency other than an entity’s functional currency.

Gains or losses on debt extinguishment, net

Our gains or losses on debt extinguishment generally include (i) premiums or discounts associated with redemptions and/or repurchases of debt, (ii) the write-off of unamortized deferred financing costs, premiums and/or discounts and/or (iii) breakage fees.

We recognized losses on debt extinguishment, net, of nil and $14 million during the three and six months ended June 30, 2025, respectively. Activity during 2024 was not material. The net loss during the six months ended June 30, 2025 is associated with refinancing activity at C&W. 

For additional information concerning our debt repurchases and repayments, see note 10 to our condensed consolidated financial statements.

Income tax benefit or expense

We recognized income tax benefit of $156 million and $36 million during the three months ended June 30, 2025 and 2024, respectively, and $147 million and $31 million during the six months ended June 30, 2025 and 2024