Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2025

Segment Reporting, Measurement Disclosures [Abstract]

Schedule of Revenue and Adjusted OIBDA by Segment

The amounts presented below represent 100% of the revenue and Adjusted OIBDA of each of our reportable segments and our corporate operations. As we have the ability to control certain subsidiaries that are not wholly-owned, we include 100% of the revenue and expenses of these entities in our condensed consolidated statements of operations despite the fact that third parties own significant interests in these entities. The noncontrolling owners’ interests in the operating results of (i) certain subsidiaries of (a) C&W and (b) Liberty Puerto Rico and (ii) Liberty Costa Rica are reflected in net earnings or loss attributable to noncontrolling interests in our condensed consolidated statements of operations.


	Revenue
	Three months ended June 30,				Six months ended June 30,
	2025		2024		2025		2024
	in millions
Liberty Caribbean	$	366.3	$	368.3	$	730.2	$	732.5
C&W Panama	177.3		197.2		354.3		366.4
Liberty Networks	114.6		119.1		225.0		227.6
Liberty Puerto Rico	301.3		308.6		599.7		635.8
Liberty Costa Rica	151.3		147.2		309.5		299.5
Total reportable segment revenue	1,110.8		1,140.4		2,218.7		2,261.8
Corporate	3.8		5.9		7.7		11.0
Intersegment eliminations	(27.9)		(28.3)		(56.2)		(55.4)
Consolidated revenue	$	1,086.7	$	1,118.0	$	2,170.2	$	2,217.4


	Adjusted OIBDA
	Three months ended June 30,				Six months ended June 30,
	2025		2024		2025		2024
	in millions
Liberty Caribbean	$	173.8	$	157.0	$	347.1	$	307.6
C&W Panama	68.6		64.8		133.2		121.6
Liberty Networks	60.8		63.1		118.7		122.3
Liberty Puerto Rico	87.0		71.1		168.5		140.2
Liberty Costa Rica	54.0		53.4		112.9		111.7
Total reportable segment Adjusted OIBDA	$	444.2	$	409.4	$	880.4	$	803.4

Schedule of Reconciliation of Total Adjusted OIBDA to Earnings Before Income Taxes

The following table provides a reconciliation of total reportable segment Adjusted OIBDA to operating income and to loss before income taxes:


	Three months ended June 30,				Six months ended June 30,
	2025		2024		2025		2024
	in millions
Total reportable segment Adjusted OIBDA	$	444.2	$	409.4	$	880.4	$	803.4
Corporate Adjusted OIBDA (a)	(29.2)		(20.3)		(58.8)		(40.1)
Share-based compensation and other Employee Incentive Plan-related expense (b)	(13.3)		(16.0)		(47.3)		(43.0)
Depreciation and amortization	(217.5)		(236.7)		(446.3)		(484.5)
Impairment, restructuring and other operating items, net	(517.2)		(25.6)		(532.9)		(32.2)
Operating income (loss)	(333.0)		110.8		(204.9)		203.6
Interest expense	(165.4)		(156.2)		(323.7)		(312.1)
Realized and unrealized gains (losses) on derivative instruments, net	(24.7)		23.9		(87.6)		70.3
Foreign currency transaction losses, net	(33.0)		(46.4)		(37.2)		(23.1)
Losses on debt extinguishments, net	—		—		(14.4)		(0.3)
Other expense, net	(14.7)		(4.9)		(20.6)		(6.6)
Losses before income taxes	$	(570.8)	$	(72.8)	$	(688.4)	$	(68.2)

(a)Represents the Adjusted OIBDA of our corporate operations, which is not considered an operating segment of Liberty Latin America.

(b)Includes expense associated with our LTVP, the vesting of which can be settled in either common shares or cash at the discretion of Liberty Latin America’s Compensation Committee.

Schedule of Cost of Goods and Services Sold

Our programming and other direct costs of services by major category, which are further discussed below, are as follows:


	Three months ended June 30,				Six months ended June 30,
	2025		2024		2025		2024
	in millions
Programming and copyright	$	57.5	$	60.4	$	115.1	$	120.5
Interconnect	66.2		65.9		132.9		137.8
Equipment	83.0		72.4		163.6		151.5
Project-related and other	25.7		46.6		53.4		75.7
Total programming and other direct costs of services	$	232.4	$	245.3	$	465.0	$	485.5

Schedule of Other Operating Cost and Expense

Our other operating costs and expenses by major category, which are further discussed below, are as follows:


	Three months ended June 30,				Six months ended June 30,
	2025		2024		2025		2024
	in millions
Personnel and contract labor	$	140.2	$	143.3	$	287.4	$	300.0
Network-related	55.2		64.2		109.5		127.6
Service-related	60.9		64.4		121.3		137.1
Commercial	44.7		52.9		90.3		99.9
Facility, provision, franchise and other	138.3		158.8		275.1		304.0
Share-based compensation and other Employee Incentive Plan-related expense	13.3		16.0		47.3		43.0
Total other operating costs and expenses (a)	$	452.6	$	499.6	$	930.9	$	1,011.6

(a)Amounts represent total other operating costs and expenses as set forth in our condensed consolidated statements of operations. These amounts differ from significant operating costs and expenses reviewed by our CODM, which represent total other operating costs and expenses excluding share-based compensation and other Employee Incentive Plan-related expense.

Schedule of Capital Expenditures of Reportable Segments

The property and equipment additions of our reportable segments and corporate operations (including capital additions financed under vendor financing or finance lease arrangements) are presented below and reconciled to the capital expenditures, net, amounts included in our condensed consolidated statements of cash flows. For additional information concerning capital additions financed under vendor financing, see note 7.


	Six months ended June 30,
	2025		2024
	in millions
Liberty Caribbean	$	85.5	$	99.4
C&W Panama	35.3		48.0
Liberty Networks	38.5		26.4
Liberty Puerto Rico	66.1		89.9
Liberty Costa Rica	32.5		32.0
Corporate	12.6		18.8
Total property and equipment additions	270.5		314.5
Assets acquired under capital-related vendor financing arrangements	(55.4)		(72.1)

Changes in current liabilities related to capital expenditures and other	20.9		7.8
Total capital expenditures, net	$	236.0	$	250.2

Revenue by Geographic Market

The revenue from third-party customers for each of our geographic markets is set forth in the table below.


	Three months ended June 30,				Six months ended June 30,
	2025		2024		2025		2024
	in millions
Puerto Rico	$	282.2	$	292.0	$	565.7	$	605.1
Panama	176.6		196.6		352.8		365.0
Costa Rica	151.0		146.5		308.9		298.6
Jamaica	104.7		104.0		210.0		205.3
Networks & LatAm (a)	91.5		96.4		178.6		182.6
The Bahamas	49.1		55.6		97.7		106.9
Trinidad and Tobago	37.6		38.6		75.0		78.1
Barbados	41.9		39.6		82.8		80.4
Other (b)	152.1		148.7		298.7		295.4
Total	$	1,086.7	$	1,118.0	$	2,170.2	$	2,217.4

(a)The amounts represent enterprise revenue and wholesale revenue from various jurisdictions across Latin America and the Caribbean related to the sale and lease of telecommunications capacity on Liberty Networks’ subsea and terrestrial fiber optic cable networks.

(b)The amounts primarily relate to a number of countries in which we have less significant operations, all of which are located in the Caribbean, and to a lesser extent, in Latin America.

Schedule of Revenue by Major Category


	Three months ended June 30, 2025
	Reportable Segments
	Liberty Caribbean		C&W Panama		Liberty Networks (a)		Liberty Puerto Rico		Liberty Costa Rica		Corporate		Intersegment Eliminations		Total
	in millions
Residential revenue:
Residential fixed revenue:
Subscription revenue	$	123.7	$	29.9	$	—	$	118.9	$	31.9	$	—	$	—	$	304.4
Non-subscription revenue	4.6		1.3		—		5.9		9.8		—		—		21.6
Total residential fixed revenue	128.3		31.2		—		124.8		41.7		—		—		326.0
Residential mobile revenue:
Service revenue	89.4		71.0		—		78.2		72.1		—		—		310.7
Interconnect, inbound roaming, equipment sales and other (b)	19.8		16.1		—		49.5		21.6		3.2		—		110.2
Total residential mobile revenue	109.2		87.1		—		127.7		93.7		3.2		—		420.9
Total residential revenue	237.5		118.3		—		252.5		135.4		3.2		—		746.9



B2B revenue (c)	128.8		59.0		114.6		43.1		15.9		0.6		(27.9)		334.1
Other revenue	—		—		—		5.7		—		—		—		5.7
Total	$	366.3	$	177.3	$	114.6	$	301.3	$	151.3	$	3.8	$	(27.9)	$	1,086.7

(a)Included in this amount is $23 million of revenue earned from other segments of Liberty Latin America.

(b)The total amount includes $56 million of revenue from sales of mobile handsets and other devices to residential mobile customers.

(c)The total amount includes $7 million of revenue from sales of mobile handsets and other devices to B2B mobile customers.


	Three months ended June 30, 2024
	Reportable Segments
	Liberty Caribbean		C&W Panama		Liberty Networks (a)		Liberty Puerto Rico		Liberty Costa Rica		Corporate		Intersegment Eliminations		Total
	in millions
Residential revenue:
Residential fixed revenue:



Subscription revenue	$	123.7	$	30.1	$	—	$	120.4	$	34.7	$	—	$	—	$	308.9
Non-subscription revenue	7.1		1.2		—		5.7		7.9		—		(0.8)		21.1
Total residential fixed revenue	130.8		31.3		—		126.1		42.6		—		(0.8)		330.0
Residential mobile revenue:
Service revenue	86.2		67.9		—		78.7		68.5		—		—		301.3
Interconnect, inbound roaming, equipment sales and other (b)	17.9		14.3		—		43.9		19.7		5.7		—		101.5
Total residential mobile revenue	104.1		82.2		—		122.6		88.2		5.7		—		402.8
Total residential revenue	234.9		113.5		—		248.7		130.8		5.7		(0.8)		732.8



B2B revenue (c)	133.4		83.7		119.1		52.6		16.4		0.2		(27.5)		377.9
Other revenue	—		—		—		7.3		—		—		—		7.3
Total	$	368.3	$	197.2	$	119.1	$	308.6	$	147.2	$	5.9	$	(28.3)	$	1,118.0

(a)Included in this amount is $23 million of revenue earned from other segments of Liberty Latin America.

(b)The total amount includes $49 million of revenue from sales of mobile handsets and other devices to residential mobile customers.

(c)The total amount includes $6 million of revenue from sales of mobile handsets and other devices to B2B mobile customers.


	Six months ended June 30, 2025
	Reportable Segments
	Liberty Caribbean		C&W Panama		Liberty Networks (a)		Liberty Puerto Rico		Liberty Costa Rica		Corporate		Intersegment Eliminations		Total
	in millions
Residential revenue:
Residential fixed revenue:
Subscription revenue	$	247.2	$	59.8	$	—	$	236.9	$	65.2	$	—	$	—	$	609.1
Non-subscription revenue	10.0		2.6		—		11.7		19.1		—		—		43.4
Total residential fixed revenue	257.2		62.4		—		248.6		84.3		—		—		652.5
Residential mobile revenue:
Service revenue	178.4		142.2		—		157.2		143.8		—		—		621.6
Interconnect, inbound roaming, equipment sales and other (b)	41.1		31.3		—		94.8		47.7		6.7		—		221.6
Total residential mobile revenue	219.5		173.5		—		252.0		191.5		6.7		—		843.2
Total residential revenue	476.7		235.9		—		500.6		275.8		6.7		—		1,495.7



B2B revenue (c)	253.5		118.4		225.0		86.8		33.7		1.0		(56.2)		662.2
Other revenue	—		—		—		12.3		—		—		—		12.3
Total	$	730.2	$	354.3	$	225.0	$	599.7	$	309.5	$	7.7	$	(56.2)	$	2,170.2

(a)Included in this amount is $46 million of revenue earned from other segments of Liberty Latin America.

(b)The total amount includes $116 million of revenue from sales of mobile handsets and other devices to residential mobile customers.

(c)The total amount includes $13 million of revenue from sales of mobile handsets and other devices to B2B mobile customers.


	Six months ended June 30, 2024
	Reportable Segments
	Liberty Caribbean		C&W Panama		Liberty Networks (a)		Liberty Puerto Rico		Liberty Costa Rica		Corporate		Intersegment Eliminations		Total
	in millions
Residential revenue:
Residential fixed revenue:



Subscription revenue	$	245.6	$	60.5	$	—	$	240.2	$	70.1	$	—	$	—	$	616.4
Non-subscription revenue	14.7		2.4		—		11.0		17.6		—		(1.5)		44.2
Total residential fixed revenue	260.3		62.9		—		251.2		87.7		—		(1.5)		660.6
Residential mobile revenue:
Service revenue	171.8		129.7		—		172.2		136.3		—		—		610.0
Interconnect, inbound roaming, equipment sales and other (b)	38.3		27.0		—		88.4		42.7		10.6		—		207.0
Total residential mobile revenue	210.1		156.7		—		260.6		179.0		10.6		—		817.0
Total residential revenue	470.4		219.6		—		511.8		266.7		10.6		(1.5)		1,477.6



B2B revenue (c)	262.1		146.8		227.6		108.6		32.8		0.4		(53.9)		724.4
Other revenue	—		—		—		15.4		—		—		—		15.4
Total	$	732.5	$	366.4	$	227.6	$	635.8	$	299.5	$	11.0	$	(55.4)	$	2,217.4

(a)Included in this amount is $45 million of revenue earned from other segments of Liberty Latin America.

(b)The total amount includes $99 million of revenue from sales of mobile handsets and other devices to residential mobile customers.

(c)The total amount includes $12 million of revenue from sales of mobile handsets and other devices to B2B mobile customers.

Schedule of Revenue by Geographic Segments


	Six months ended June 30, 2025
	Reportable Segments
	Liberty Caribbean		C&W Panama		Liberty Networks		Liberty Puerto Rico		Liberty Costa Rica		Corporate		Intersegment Eliminations		Total
	in millions
Programming and copyright	$	32.1	$	10.4	$	—	$	54.0	$	18.6	$	—	$	—	$	115.1
Interconnect	30.0		32.9		26.7		41.0		11.9		—		(9.6)		132.9
Equipment	19.6		30.8		0.3		76.7		36.2		—		—		163.6
Project-related and other	23.9		25.8		9.2		1.3		1.2		—		(8.0)		53.4
Total programming and other direct costs of services	105.6		99.9		36.2		173.0		67.9		—		(17.6)		465.0
Personnel and contract labor	97.1		35.8		25.8		75.6		17.1		35.2		0.8		287.4
Network-related	60.2		24.6		24.4		17.1		20.4		—		(37.2)		109.5
Service-related	33.0		9.4		5.3		44.0		12.7		19.2		(2.3)		121.3
Commercial	17.0		17.1		1.2		23.4		31.5		—		0.1		90.3
Facility, provision, franchise and other	70.2		34.3		13.4		98.1		47.0		12.1		—		275.1
Total significant other operating costs and expenses	277.5		121.2		70.1		258.2		128.7		66.5		(38.6)		883.6
Total significant expenses	$	383.1	$	221.1	$	106.3	$	431.2	$	196.6	$	66.5	$	(56.2)	$	1,348.6


	Six months ended June 30, 2024
	Reportable Segments
	Liberty Caribbean		C&W Panama		Liberty Networks		Liberty Puerto Rico		Liberty Costa Rica		Corporate		Intersegment Eliminations		Total
	in millions
Programming and copyright	$	34.9	$	11.4	$	—	$	56.2	$	18.6	$	—	$	(0.6)	$	120.5
Interconnect	33.5		35.1		24.2		38.6		15.4		—		(9.0)		137.8
Equipment	25.3		21.1		0.2		74.8		30.1		—		—		151.5
Project-related and other	20.5		49.9		9.4		2.6		0.5		—		(7.2)		75.7
Total programming and other direct costs of services	114.2		117.5		33.8		172.2		64.6		—		(16.8)		485.5
Personnel and contract labor	102.7		40.9		24.7		88.8		15.8		26.3		0.8		300.0
Network-related	69.0		26.4		23.4		24.6		20.8		—		(36.6)		127.6
Service-related	32.9		9.4		4.3		69.3		12.9		10.3		(2.0)		137.1
Commercial	22.5		16.6		1.1		28.7		31.0		—		—		99.9
Facility, provision, franchise and other	83.6		34.0		18.0		112.0		42.7		14.5		(0.8)		304.0
Total significant other operating costs and expenses	310.7		127.3		71.5		323.4		123.2		51.1		(38.6)		968.6
Total significant expenses	$	424.9	$	244.8	$	105.3	$	495.6	$	187.8	$	51.1	$	(55.4)	$	1,454.1