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Consolidated Balance Sheet - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 549 $ 367
Accounts receivable    
Customers and agents, less allowances of $63 and $60, respectively 1,046 1,058
Other, less allowances of $1 and $2, respectively 77 93
Inventory, net 184 178
Prepaid expenses 109 103
Income taxes receivable 58 184
Other current assets 62 61
Total current assets 2,085 2,044
Assets held for sale 15 18
Licenses 4,686 4,097
Goodwill 547 547
Other intangible assets, net of accumulated amortization of $95 and $91, respectively 199 197
Investments in unconsolidated entities 506 479
Property, plant and equipment    
In service and under construction 14,423 14,265
Less: Accumulated depreciation and amortization 10,038 9,904
Property, plant and equipment, net 4,385 4,361
Operating lease right-of-use assets 1,033 1,040
Other assets and deferred charges 668 710
Total assets [1] 14,124 13,493
Current liabilities    
Current portion of long-term debt 9 6
Accounts payable 388 481
Customer deposits and deferred revenues 245 236
Accrued interest 20 10
Accrued taxes 43 45
Accrued compensation 77 137
Short-term operating lease liabilities 144 141
Other current liabilities 189 124
Total current liabilities 1,115 1,180
Deferred liabilities and credits    
Deferred income tax liability, net 948 921
Long-term operating lease liabilities 951 960
Other deferred liabilities and credits 770 759
Long-term debt, net 3,567 2,928
Commitments and contingencies
Noncontrolling interests with redemption features 12 11
TDS shareholders’ equity    
Series A Common and Common Shares Authorized 290 shares (25 Series A Common and 265 Common Shares) Issued 133 shares (7 Series A Common and 126 Common Shares) Outstanding 115 shares (7 Series A Common and 108 Common Shares) Par Value ($.01 per share) 1 1
Capital in excess of par value 2,511 2,496
Preferred Shares, 0.279 shares authorized, par value $0.01 per share, .0444 shares outstanding (.0168 Series UU and .0276 Series VV) 1,074 1,074
Treasury shares, at cost, 18 Common Shares (456) (461)
Accumulated other comprehensive income 6 5
Retained earnings 2,824 2,812
Total TDS shareholders' equity 5,960 5,927
Noncontrolling interests 801 807
Total equity 6,761 6,734
Total liabilities and equity [1] $ 14,124 $ 13,493
[1] The consolidated total assets as of March 31, 2022 and December 31, 2021, include assets held by consolidated variable interest entities (VIEs) of $1,406 million and $1,456 million, respectively, which are not available to be used to settle the obligations of TDS. The consolidated total liabilities as of March 31, 2022 and December 31, 2021, include certain liabilities of consolidated VIEs of $21 million for which the creditors of the VIEs have no recourse to the general credit of TDS. See Note 9 — Variable Interest Entities for additional information.