Company: LILA
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001712184-25-000031
Chunk: 208

Company: Liberty Latin America Ltd.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 9C
Chunk 208
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.2 As of December 31, 2024, a valuation allowance of $1,877 million has been recorded against the net operating loss carryforwards where we do not expect to realize a future benefit, or where certain losses may be limited in use due to change in control or same-business tests. Our tax loss carryforwards within each jurisdiction combine all companies’ tax losses (both capital and ordinary losses) in that jurisdiction; however, certain tax jurisdictions limit the ability to offset taxable income of a separate company or different tax group with the tax losses associated with another separate company or group. Further, tax jurisdictions restrict the type of taxable income that the above losses are able to offset.In 2024 and 2023, we have foreign tax credit carryforwards of $10 million and $7 million, respectively, which are available in the U.S. Substantially all credits not utilized will expire at the end of 2034. A valuation allowance of $9 million has been recorded against the foreign tax credit carryforwards where we do not expect to realize a future benefit.  In 2024 and 2023, we have alternative minimum tax credit carryforwards in the amounts of $50 million and $49 million, respectively, attributable to our operations in Puerto Rico for which the current tax law provides no period of expiration. A valuation allowance of $13 million has been recorded against the alternative minimum tax credit carryforwards where we do not expect to realize a future benefit. 

II-88

Liberty Latin America Ltd.Notes to Consolidated Financial Statements – (Continued)December 31, 2024, 2023 and 2022

In 2024, we have research and development credit carryforwards of $14 million available in Puerto Rico for which current law provides no period of expiration.Through our consolidated subsidiaries, we maintain a presence in many countries. Many of these countries maintain highly complex tax regimes. We have accounted for the effect of these taxes based on what we believe is reasonably expected to apply to us and our consolidated subsidiaries based on tax laws currently in effect and reasonable interpretations of these laws. Because some jurisdictions do not have systems of taxation that are as well established as the system of income taxation used in other major industrialized countries, it may be difficult to anticipate how other jurisdictions will tax our and our consolidated subsidiaries’ current and future operations.Although we intend to take reasonable tax planning measures to limit our tax exposures, no assurance can be