Company: LILA
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001712184-25-000031
Chunk: 27

Company: Liberty Latin America Ltd.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 27
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 derivative contracts. The details of our realized and unrealized gains (losses) on derivative instruments, net, are as follows:

 Year ended December 31, 20242023 in millionsInterest rate derivative contracts (a)$76.7 $27.3 Foreign currency forward contracts and other (b)(7.6)(30.6)Weather Derivatives (c)13.0 (30.9)Total$82.1 $(34.2)

(a)The gains during 2024 and 2023 are primarily attributable to (i) higher interest rates and (ii) for the 2024 period, the impact of amendments to certain interest rate derivative contracts within our C&W and Liberty Puerto Rico borrowing groups.

(b)The losses during 2024 and 2023 are primarily attributable to changes in FX rates due to the value of the CRC relative to the U.S. dollar.

(c)Amounts represent the amortization of premiums associated with our Weather Derivatives, and for 2024, a net gain of $44 million associated with a payment pursuant to coverage under our Weather Derivatives that was triggered by Hurricane Beryl.

For additional information concerning our derivative instruments, see notes 4 and 7 to our consolidated financial statements and Item 7A. Qualitative and Quantitative Disclosures about Market Risk below.

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 gains (losses), net, are as follows:

 Year ended December 31, 20242023 in millionsU.S. dollar-denominated debt issued by non-U.S.dollar functional currency entities (a)$10.2 $54.4 Intercompany payables and receivables denominated in a currency other than the entity’s functional currency(14.9)7.8 Other (b)(13.6)8.1 Total$(18.3)$70.3 

(a)The net gains are primarily due to a CRC functional currency entity.

(b)Primarily includes (i) third-party receivables and payables denominated in a currency other than an entity’s functional