Note 7 Investments in Unconsolidated Entities

Investments in unconsolidated entities consist of amounts invested in wireless and wireline entities in which TDS holds a noncontrolling interest. These investments are accounted for using either the equity or cost method.

The following table, which is based in part on information provided by third parties, summarizes the combined results of operations of TDS’ equity method investments.

	Three Months Ended June 30,				Six Months Ended June 30,
	2017		2016		2017		2016
(Dollars in millions)
Revenues	$	1,636	$	1,641	$	3,251	$	3,329
Operating expenses		1,229		1,173		2,446		2,408
Operating income		407		468		805		921
Other expense, net		(2)		(3)		(2)		(8)
Net income	$	405	$	465	$	803	$	913