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Consolidated Statement of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Operating revenues        
Total operating revenues $ 1,321 $ 1,297 $ 3,840 $ 3,777
Operating expenses        
Selling, general and administrative 439 421 1,260 1,232
Depreciation, amortization and accretion 237 220 697 662
(Gain) loss on asset disposals, net 6 0 5 3
(Gain) loss on sale of business and other exit costs, net 0 0 (1) 0
(Gain) loss on license sales and exchanges, net 2 0 0 (18)
Total operating expenses 1,292 1,246 3,669 3,585
Operating income 29 51 171 192
Investment and other income (expense)        
Equity in earnings of unconsolidated entities 44 42 129 121
Interest and dividend income 7 6 24 18
Interest expense (42) (43) (128) (129)
Other, net 0 2 0 1
Total investment and other income 9 7 25 11
Income before income taxes 38 58 196 203
Income tax expense 15 5 64 48
Net income 23 53 132 155
Less: Net income attributable to noncontrolling interests, net of tax 5 7 22 36
Net income attributable to TDS shareholders $ 18 $ 46 $ 110 $ 119
Basic weighted average shares outstanding (in shares) 115 112 114 112
Basic earnings per share attributable to TDS shareholders (in dollars per share) $ 0.15 $ 0.41 $ 0.96 $ 1.06
Diluted weighted average shares outstanding (in shares) 116 114 116 113
Diluted earnings per share attributable to TDS shareholders (in dollars per share) $ 0.15 $ 0.41 $ 0.93 $ 1.04
Service        
Operating revenues        
Total operating revenues $ 1,030 $ 1,017 $ 3,038 $ 2,988
Operating expenses        
Cost of goods and services 313 314 900 902
Equipment and product sales        
Operating revenues        
Total operating revenues 291 280 802 789
Operating expenses        
Cost of goods and services $ 295 $ 291 $ 808 $ 804