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Consolidated Statement of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Operating revenues        
Total operating revenues $ 1,278 $ 1,392 $ 3,848 $ 4,056
Operating expenses        
Selling, general and administrative 432 462 1,308 1,300
Depreciation, amortization and accretion 225 234 681 691
Loss on impairment of licenses 0 0 0 3
(Gain) loss on asset disposals, net 6 4 22 13
(Gain) loss on sale of business and other exit costs, net 0 0 0 (1)
Total operating expenses 1,230 1,403 3,738 3,909
Operating income (loss) 48 (11) 110 147
Investment and other income (expense)        
Equity in earnings of unconsolidated entities 40 40 122 123
Interest and dividend income 5 4 16 10
Interest expense (62) (46) (178) (118)
Other, net 0 0 1 1
Total investment and other income (expense) (17) (2) (39) 16
Income (loss) before income taxes 31 (13) 71 163
Income tax expense (benefit) 27 (3) 55 62
Net income (loss) 4 (10) 16 101
Less: Net income (loss) attributable to noncontrolling interests, net of tax 4 (2) 10 14
Net income (loss) attributable to TDS shareholders 0 (8) 6 87
TDS Preferred Share dividends 17 17 52 52
Net income (loss) attributable to TDS common shareholders $ (17) $ (25) $ (46) $ 35
Basic weighted average shares outstanding (in shares) 113 114 113 114
Basic earnings (loss) per share attributable to TDS common shareholders $ (0.16) $ (0.22) $ (0.41) $ 0.31
Diluted weighted average shares outstanding (in shares) 113 114 113 115
Diluted earnings (loss) per share attributable to TDS common shareholders $ (0.16) $ (0.22) $ (0.41) $ 0.30
Service        
Operating revenues        
Total operating revenues $ 1,043 $ 1,061 $ 3,128 $ 3,186
Operating expenses        
Cost of goods and services 311 326 933 936
Equipment and product sales        
Operating revenues        
Total operating revenues 235 331 720 870
Operating expenses        
Cost of goods and services $ 256 $ 377 $ 794 $ 967