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Consolidated Statement of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Operating revenues        
Total operating revenues $ 1,261 $ 1,255 $ 2,518 $ 2,480
Operating expenses        
Selling, general and administrative 421 417 819 813
Depreciation, amortization and accretion 234 220 460 441
(Gain) loss on asset disposals, net 5 2 0 3
(Gain) loss on sale of business and other exit costs, net 0 0 (2) 0
(Gain) loss on license sales and exchanges, net 0 (11) (2) (17)
Total operating expenses 1,213 1,194 2,376 2,339
Operating income 48 61 142 141
Investment and other income (expense)        
Equity in earnings of unconsolidated entities 41 40 85 78
Interest and dividend income 9 6 17 11
Interest expense (43) (43) (86) (86)
Other, net 0 1 1 2
Total investment and other income 7 4 17 5
Income before income taxes 55 65 159 146
Income tax expense 16 21 50 45
Net income 39 44 109 101
Less: Net income attributable to noncontrolling interests, net of tax 6 11 17 29
Net income attributable to TDS shareholders $ 33 $ 33 $ 92 $ 72
Basic weighted average shares outstanding (in shares) 114 112 114 112
Basic earnings per share attributable to TDS shareholders (in dollars per share) $ 0.29 $ 0.30 $ 0.81 $ 0.65
Diluted weighted average shares outstanding (in shares) 116 113 116 113
Diluted earnings per share attributable to TDS shareholders (in dollars per share) $ 0.28 $ 0.29 $ 0.78 $ 0.63
Service        
Operating revenues        
Total operating revenues $ 1,013 $ 993 $ 2,008 $ 1,970
Operating expenses        
Cost of goods and services 304 300 588 587
Equipment and product sales        
Operating revenues        
Total operating revenues 248 262 510 510
Operating expenses        
Cost of goods and services $ 249 $ 266 $ 513 $ 512