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Consolidated Statement of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating revenues    
Total operating revenues $ 1,315 $ 1,318
Operating expenses    
Selling, general and administrative 410 388
Depreciation, amortization and accretion 229 224
(Gain) loss on asset disposals, net 2 5
(Gain) loss on sale of business and other exit costs, net (1) (1)
Total operating expenses 1,220 1,208
Operating income 95 110
Investment and other income (expense)    
Equity in earnings of unconsolidated entities 45 42
Interest and dividend income 2 3
Interest expense (33) (53)
Total investment and other income (expense) 14 (8)
Income before income taxes 109 102
Income tax expense 37 31
Net income 72 71
Less: Net income attributable to noncontrolling interests, net of tax 11 12
Net income attributable to TDS shareholders 61 59
TDS Preferred Share dividends 17 2
Net income attributable to TDS common shareholders $ 44 $ 57
Basic weighted average shares outstanding (in shares) 115 114
Basic earnings per share attributable to TDS common shareholders (in dollars per share) $ 0.38 $ 0.49
Diluted weighted average shares outstanding (in shares) 116 116
Diluted earnings per share attributable to TDS common shareholders (in dollars per share) $ 0.37 $ 0.48
Service    
Operating revenues    
Total operating revenues $ 1,062 $ 1,042
Operating expenses    
Cost of goods and services 298 299
Equipment and product sales    
Operating revenues    
Total operating revenues 253 276
Operating expenses    
Cost of goods and services $ 282 $ 293