Company: LILA
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001712184-25-000031
Chunk: 197

Company: Liberty Latin America Ltd.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 9C
Chunk 197
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 obligations, net of the annuity insurance policies (as described further below). (c)Our plan assets primarily comprise investments in insurance contracts, debt securities and equity securities. The fair value of plan assets at December 31, 2024 includes $233 million, $135 million and $1,021 million of assets that are valued based on Level 1, Level 2 and Level 3 inputs, respectively, of the fair value hierarchy (as further described in note 4). The fair value of plan assets at December 31, 2023 includes $242 million, $130 million and $1,151 million of assets that are valued based on Level 1, Level 2 and Level 3 inputs, respectively.In May 2023, the CWSF completed an additional buy-in bulk annuity, resulting in 100% of the plan’s liabilities being covered by insurance annuity policies, the payments from which match the corresponding obligations to employees. In addition, at December 31, 2024, 100% of the Jamaican and UTS defined benefit obligations are covered through the purchase of insurance annuity policies. The remaining investment risks in the plans have also been mitigated to a reasonable extent by a combination of matching assets and diversification of the return-seeking assets.The CWSF buy-in resulted in the remeasurement of $75 million from net pension assets to accumulated other comprehensive income during 2023, which represents the loss associated with the difference between the projected benefit obligations and the cost of the bulk annuity policy.

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

(12)    Equity

Share CapitalA summary of the changes in our share capital during 2024, 2023 and 2022 is set forth in the table below:Class AClass BClass Cin millionsBalance at January 1, 202245.5 1.9 182.3 Repurchase of Liberty Latin America common shares(4.5)— (14.8)Issued in connection with share-based compensation plans and other1.7 0.2 3.8 Balance at December 31, 202242.7 2.1 171.3 Balance at January 1, 202342.7 2.1 171.3 Repurchase of Liberty Latin America common shares(2.6)—