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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Income taxes receivable (payable)

TDS’ current income taxes balances at December 31, 2024 and 2023, were as follows:

December 31,			2024						2023
(Dollars in millions)
Federal income taxes receivable (payable)			$	(1)					$	1
Net state income taxes receivable			2						3

Income tax expense (benefit)

Income tax expense (benefit) is summarized as follows:

Year Ended December 31,			2024						2023						2022
(Dollars in millions)
Current
Federal			$	3					$	(1)					$	1
State			—						3						5
Deferred
Federal			(5)						(10)						32
State			8						18						15
Total income tax expense (benefit)			$	6					$	10					$	53

Income tax reconciliation

A reconciliation of TDS’ income tax expense computed at the statutory rate to the reported income tax expense, and the statutory federal income tax rate to TDS’ effective income tax rate is as follows:

Year Ended December 31,			2024												2023												2022
			Amount						Rate						Amount						Rate						Amount						Rate
(Dollars in millions)
Statutory federal income tax expense and rate			$	(4)					21.0		%				$	(100)					21.0		%				$	26					21.0		%
State income taxes, net of federal benefit1			6						(32.4)						16						(3.4)						16						12.8
Change in federal valuation allowance2			20						(99.1)						8						(1.7)						7						5.7
Goodwill impairment3			—						—						83						(17.4)						—						—
Sale of businesses			(15)						74.0						—						—						—						—
Nondeductible compensation			3						(13.5)						7						(1.4)						7						5.6
Tax credits			(2)						11.7						(3)						0.6						(2)						(1.9)
Other differences, net			(2)						4.2						(1)						0.2						(1)						(0.6)
Total income tax expense (benefit) and rate			$	6					(34.1)		%				$	10					(2.1)		%				$	53					42.6		%

1State income taxes, net of federal benefit, include changes in unrecognized tax benefits as well as adjustments to state valuation allowances. State taxes in 2022 and 2023 include discrete valuation allowance adjustments that did not recur in 2024.

2Change in federal valuation allowance is due primarily to capital losses from the sale of businesses and annual interest expense from partnership investments that carryforward but may not be realized.

3Goodwill impairment reflects the federal tax effect of the portion of the impaired goodwill that is not amortizable for income tax purposes. See Note 8 — Intangible Assets for additional information related to the goodwill impairment.

Deferred income tax assets and liabilities

Significant components of TDS’ deferred income tax assets and liabilities at December 31, 2024 and 2023, were as follows:

December 31,			2024						2023
(Dollars in millions)
Deferred tax assets
Net operating loss (NOL) carryforwards			$	268					$	284
Lease liabilities			253						260
Contract liabilities			60						61
Interest expense carryforwards			176						133
Asset retirement obligation			136						123
Other			109						98
Total deferred tax assets			1,002						959
Less valuation allowance			(266)						(216)
Net deferred tax assets			736						743
Deferred tax liabilities
Property, plant and equipment			817						841
Licenses/intangibles			423						410
Partnership investments			191						181
Lease assets			238						242
Other			48						44
Total deferred tax liabilities			1,717						1,718
Net deferred income tax liability			$	981					$	975

Deferred tax valuation allowance

A summary of TDS' deferred tax asset valuation allowance is as follows:

			2024						2023						2022
(Dollars in millions)
Balance at beginning of year			$	216					$	177					$	149
Charged to Income tax expense			54						39						28
Charged to (Gain) loss on sale of business and other exit costs, net			(4)						—						—
Balance at end of year			$	266					$	216					$	177

Income tax unrecognized benefits summary

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

			2024						2023						2022
(Dollars in millions)
Unrecognized tax benefits balance at beginning of year			$	40					$	38					$	37
Additions for tax positions of current year			7						10						6
Additions for tax positions of prior years			—						—						1
Reductions for tax positions of prior years			(7)						(2)						—
Reductions for lapses in statutes of limitations			(7)						(6)						(6)
Unrecognized tax benefits balance at end of year			$	33					$	40					$	38

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