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Consolidated Balance Sheet - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 249 $ 236
Accounts receivable    
Customers and agents, less allowances of $66 and $70, respectively 955 992
Other, less allowances of $3 and $4, respectively 81 82
Inventory, net 184 208
Prepaid expenses 107 86
Income taxes receivable 3 4
Other current assets 49 52
Total current assets 1,628 1,660
Assets held for sale 0 15
Licenses 4,720 4,702
Other intangible assets, net of accumulated amortization of $111 and $106, respectively 178 183
Investments in unconsolidated entities 526 505
Property, plant and equipment    
In service and under construction 14,452 15,612
Less: Accumulated depreciation and amortization 9,400 10,550
Property, plant and equipment, net 5,052 5,062
Operating lease right-of-use assets 979 987
Other assets and deferred charges 783 807
Total assets [1] 13,866 13,921
Current liabilities    
Current portion of long-term debt 26 26
Accounts payable 302 360
Customer deposits and deferred revenues 284 277
Accrued interest 21 12
Accrued taxes 44 43
Accrued compensation 59 149
Short-term operating lease liabilities 147 147
Other current liabilities 148 170
Total current liabilities 1,031 1,184
Deferred liabilities and credits    
Deferred income tax liability, net 988 975
Long-term operating lease liabilities 883 890
Other deferred liabilities and credits 780 784
Long-term debt, net 4,164 4,080
Commitments and contingencies
Noncontrolling interests with redemption features 16 12
TDS shareholders’ equity    
Series A Common and Common Shares Authorized 290 shares (25 Series A Common and 265 Common Shares) Issued 133 shares (7 Series A Common and 126 Common Shares) Outstanding 113 shares (7 Series A Common and 106 Common Shares) Par Value ($.01 per share) 1 1
Capital in excess of par value 2,570 2,558
Preferred Shares, 0.279 shares authorized, par value $0.01 per share, 0.0444 shares outstanding (0.0168 Series UU and 0.0276 Series VV) 1,074 1,074
Treasury shares, at cost, 20 Common Shares (460) (465)
Accumulated other comprehensive income 11 11
Retained earnings 2,008 2,023
Total TDS shareholders' equity 5,204 5,202
Noncontrolling interests 800 794
Total equity 6,004 5,996
Total liabilities and equity [1] $ 13,866 $ 13,921
[1] The consolidated total assets as of March 31, 2024 and December 31, 2023, include assets held by consolidated variable interest entities (VIEs) of $1,115 million and $1,188 million, respectively, which are not available to be used to settle the obligations of TDS. The consolidated total liabilities as of March 31, 2024 and December 31, 2023, include certain liabilities of consolidated VIEs of $23 million, for which the creditors of the VIEs have no recourse to the general credit of TDS. See Note 8 — Variable Interest Entities for additional information.