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Business Segment Information | 3 Months Ended
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Mar. 31, 2016
Disclosure Text Block |
Business Segment Information | Note 10 Business Segment Information U.S. Cellular and TDS Telecom are billed for all services they receive from TDS, consisting primarily of information processing, accounting and finance, and general management services. Such billings are based on expenses specifically identified to U.S. Cellular and TDS Telecom and on allocations of common expenses. Management believes the method used to allocate common expenses is reasonable an d that all expenses and costs applicable to U.S. Cellular and TDS Telecom are reflected in the accompanying business segment information on a basis that is representative of what they would have been if U.S. Cellular and TDS Telecom operated on a stand-alo ne basis. Financial data for TDS’ reportable segments for the three month period ended, or as of March 31, 2016 and 2015, is as fo llows. See Note 1 — Basis of Presentation for additional information.
|  |  |  |  |  |  | TDS Telecom |  |  |  |  |  |
Three Months Ended or as of March 31, 2016 |  | U.S. Cellular |  | Wireline |  | Cable |  | HMS |  | TDS Telecom Eliminations |  | TDS Telecom Total |  | Corporate, Eliminations and Other |  | Total
(Dollars in millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Service |  | $ | 760 |  | $ | 173 |  | $ | 45 |  | $ | 29 |  | $ | (1) |  | $ | 246 |  | $ | (6) |  | $ | 1,000
| Equipment and product sales |  |  | 198 |  |  | – |  |  | – |  |  | 35 |  |  | – |  |  | 35 |  |  | 10 |  |  | 243
|  | Total operating revenues |  |  | 958 |  |  | 173 |  |  | 45 |  |  | 64 |  |  | (1) |  |  | 281 |  |  | 4 |  |  | 1,243
Cost of services (excluding Depreciation, amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| and accretion reported below) |  |  | 184 |  |  | 62 |  |  | 22 |  |  | 21 |  |  | (1) |  |  | 104 |  |  | – |  |  | 288
Cost of equipment and products |  |  | 256 |  |  | 1 |  |  | – |  |  | 29 |  |  | – |  |  | 30 |  |  | 5 |  |  | 291
Selling, general and administrative |  |  | 361 |  |  | 48 |  |  | 12 |  |  | 11 |  |  | – |  |  | 71 |  |  | (1) |  |  | 431
Depreciation, amortization and accretion |  |  | 153 |  |  | 42 |  |  | 9 |  |  | 7 |  |  | – |  |  | 58 |  |  | 1 |  |  | 212
(Gain) loss on asset disposals, net |  |  | 5 |  |  | – |  |  | 1 |  |  | – |  |  | – |  |  | 1 |  |  | – |  |  | 6
Operating income (loss) |  |  | (1) |  |  | 20 |  |  | 1 |  |  | (4) |  |  | – |  |  | 17 |  |  | (1) |  |  | 15
Equity in earnings of unconsolidated entities |  |  | 35 |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | 35
Interest and dividend income |  |  | 13 |  |  | 1 |  |  | – |  |  | – |  |  | – |  |  | 1 |  |  | – |  |  | 14
Interest expense |  |  | (28) |  |  | 1 |  |  | – |  |  | (1) |  |  | – |  |  | – |  |  | (13) |  |  | (41)
Other, net |  |  | 1 |  |  | – |  |  | (1) |  |  | – |  |  | – |  |  | (1) |  |  | – |  |  | –
Income (loss) before income taxes |  |  | 20 |  |  | 22 |  |  | – |  |  | (5) |  |  | – |  |  | 17 |  |  | (14) |  |  | 23
Income tax expense (benefit)1 |  |  | 11 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7 |  |  | (5) |  |  | 13
Net income (loss) |  |  | 9 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 10 |  |  | (9) |  |  | 10
Add back: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation, amortization and accretion |  |  | 153 |  |  | 42 |  |  | 9 |  |  | 7 |  |  | – |  |  | 58 |  |  | 1 |  |  | 212
(Gain) loss on asset disposals, net |  |  | 5 |  |  | – |  |  | 1 |  |  | – |  |  | – |  |  | 1 |  |  | – |  |  | 6
Interest expense |  |  | 28 |  |  | (1) |  |  | – |  |  | 1 |  |  | – |  |  | – |  |  | 13 |  |  | 41
Income tax expense (benefit)1 |  |  | 11 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7 |  |  | (5) |  |  | 13
Adjusted EBITDA 2 |  | $ | 206 |  | $ | 63 |  | $ | 10 |  | $ | 3 |  | $ | – |  | $ | 76 |  | $ | – |  | $ | 282
Investments in unconsolidated entities |  | $ | 384 |  | $ | 4 |  | $ | – |  | $ | – |  | $ | – |  | $ | 4 |  | $ | 35 |  | $ | 423
Total assets |  | $ | 7,057 |  | $ | 1,291 |  | $ | 581 |  | $ | 270 |  | $ | – |  | $ | 2,142 |  | $ | 184 |  | $ | 9,383
Capital expenditures |  | $ | 79 |  | $ | 27 |  | $ | 13 |  | $ | 2 |  | $ | – |  | $ | 42 |  | $ | 4 |  | $ | 125
|  |  |  |  |  |  | TDS Telecom |  |  |  |  |  |
Three Months Ended or as of March 31, 2015 |  | U.S. Cellular |  | Wireline |  | Cable |  | HMS |  | TDS Telecom Eliminations |  | TDS Telecom Total |  | Corporate, Eliminations and Other |  | Total
(Dollars in millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Service |  | $ | 828 |  | $ | 176 |  | $ | 44 |  | $ | 28 |  | $ | (1) |  | $ | 247 |  | $ | (2) |  | $ | 1,073
| Equipment and product sales |  |  | 137 |  |  | – |  |  | – |  |  | 33 |  |  | – |  |  | 33 |  |  | 9 |  |  | 179
|  | Total operating revenues |  |  | 965 |  |  | 176 |  |  | 44 |  |  | 61 |  |  | (1) |  |  | 280 |  |  | 7 |  |  | 1,252
Cost of services (excluding Depreciation, amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| and accretion reported below) |  |  | 191 |  |  | 62 |  |  | 20 |  |  | 20 |  |  | – |  |  | 102 |  |  | 1 |  |  | 294
Cost of equipment and products |  |  | 238 |  |  | 1 |  |  | – |  |  | 27 |  |  | – |  |  | 28 |  |  | 6 |  |  | 272
Selling, general and administrative |  |  | 369 |  |  | 46 |  |  | 13 |  |  | 13 |  |  | (1) |  |  | 71 |  |  | (2) |  |  | 438
Depreciation, amortization and accretion |  |  | 147 |  |  | 42 |  |  | 9 |  |  | 6 |  |  | – |  |  | 57 |  |  | 3 |  |  | 207
(Gain) loss on asset disposals, net |  |  | 4 |  |  | – |  |  | 1 |  |  | – |  |  | – |  |  | 1 |  |  | – |  |  | 5
(Gain) loss on sale of business and other exit costs, net |  |  | (111) |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | (13) |  |  | (124)
(Gain) loss on license sales and exchanges, net |  |  | (123) |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | (123)
Operating income (loss) |  |  | 250 |  |  | 25 |  |  | 1 |  |  | (5) |  |  | – |  |  | 21 |  |  | 12 |  |  | 283
Equity in earnings of unconsolidated entities |  |  | 34 |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | 1 |  |  | 35
Interest and dividend income |  |  | 8 |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | 8
Interest expense |  |  | (20) |  |  | 1 |  |  | – |  |  | (1) |  |  | – |  |  | – |  |  | (14) |  |  | (34)
Other, net |  |  | – |  |  | 1 |  |  | – |  |  | – |  |  | – |  |  | 1 |  |  | (1) |  |  | –
Income (loss) before income taxes |  |  | 272 |  |  | 27 |  |  | 1 |  |  | (6) |  |  | – |  |  | 22 |  |  | (2) |  |  | 292
Income tax expense (benefit)1 |  |  | 107 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9 |  |  | – |  |  | 116
Net income (loss) |  |  | 165 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 13 |  |  | (2) |  |  | 176
Add back: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation, amortization and accretion |  |  | 147 |  |  | 42 |  |  | 9 |  |  | 6 |  |  | – |  |  | 57 |  |  | 3 |  |  | 207
(Gain) loss on asset disposals, net |  |  | 4 |  |  | – |  |  | 1 |  |  | – |  |  | – |  |  | 1 |  |  | – |  |  | 5
(Gain) loss on sale of business and other exit costs, net |  |  | (111) |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | (13) |  |  | (124)
(Gain) loss on license sales and exchanges, net |  |  | (123) |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | (123)
Interest expense |  |  | 20 |  |  | (1) |  |  | – |  |  | 1 |  |  | – |  |  | – |  |  | 14 |  |  | 34
Income tax expense (benefit)1 |  |  | 107 |  |  | – |  |  | – |  |  | – |  |  | – |  |  | 9 |  |  | – |  |  | 116
Adjusted EBITDA 2 |  | $ | 209 |  | $ | 68 |  | $ | 11 |  | $ | 1 |  | $ | – |  | $ | 80 |  | $ | 2 |  | $ | 291
Investments in unconsolidated entities |  | $ | 305 |  | $ | 4 |  | $ | – |  | $ | – |  | $ | – |  | $ | 4 |  | $ | 34 |  | $ | 343
Total assets |  | $ | 6,606 |  | $ | 1,366 |  | $ | 566 |  | $ | 275 |  | $ | – |  | $ | 2,207 |  | $ | 183 |  | $ | 8,996
Capital expenditures |  | $ | 66 |  | $ | 20 |  | $ | 12 |  | $ | 5 |  | $ | – |  | $ | 37 |  | $ | 2 |  | $ | 105

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