Latency can be compared to the Delay component in EIGRP classic Metrics. Latency can be calculated using the following formula:
Interface delay is expressed in picoseconds.
Since delay makes sense on interfaces up to 1Gbps, those interface delay metrics are simply converted to picoseconds for Latency wide metrics.
Interfaces operating over 1Gbps without bandwidth and delay commands, interface delay is computed as the following:
1Gbps or faster interfaces with bandwidth and/or delay command configured regardless of the speed the delay is the IOS based default delay converted to picoseconds.