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Discontinued Operations (Tables) | 9 Months Ended
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Sep. 30, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued operations | The carrying amounts of the major classes of assets and liabilities that transferred in the sale did not meet the criteria to be classified as held for sale in the historical Consolidated Balance Sheet as of December 31, 2024. However, during the three months ended September 30, 2025, TDS met the criteria to classify the wireless operations and select spectrum assets sold to T-Mobile as discontinued operations, and therefore, the major classes of assets and liabilities are presented as discontinued operations in the historical Consolidated Balance Sheet, as follows:
|  |  | December 31, 2024
(Dollars in thousands) |  |  |
Assets |  |  |
Accounts receivable, net |  |  | $ | 942,177 |
Inventory, net |  |  | 178,700 |
Prepaid expenses |  |  | 39,147 |
Other current assets |  |  | 3,008 |
Total current assets of discontinued operations |  |  | 1,163,032 |
Licenses |  |  | 1,298,212 |
Property, plant and equipment, net |  |  | 2,117,517 |
Operating lease right-of-use assets |  |  | 461,213 |
Other assets and deferred charges |  |  | 622,619 |
Total non-current assets of discontinued operations |  |  | 4,499,561 |
Total assets of discontinued operations |  |  | $ | 5,662,593 |
Liabilities |  |  |
Current portion of long-term debt |  |  | $ | 224 |
Accounts payable |  |  | 204,861 |
Customer deposits and deferred revenues |  |  | 236,053 |
Accrued taxes |  |  | 2,836 |
Accrued compensation |  |  | 3,032 |
Short-term operating lease liabilities |  |  | 125,137 |
Other current liabilities |  |  | 99,432 |
Total current liabilities of discontinued operations |  |  | 671,575 |
Long-term operating lease liabilities |  |  | 326,406 |
Other deferred liabilities and credits |  |  | 348,545 |
Long-term debt, net |  |  | 1,635,709 |
Total non-current liabilities of discontinued operations |  |  | 2,310,660 |
Total liabilities of discontinued operations |  |  | $ | 2,982,235 |
Net income (loss) from discontinued operations in the Consolidated Statement of Operations consists of the following:
| Three Months Ended September 30, |  | Nine Months Ended September 30, |  |
| 2025 |  | 2024 |  | 2025 |  | 2024 |  |
(Dollars in thousands) |  |  |  |  |  |  |  |  |
Operating revenues |  |  |  |  |  |  |  |  |
Service | $ | 238,088 |  |  | $ | 721,707 |  |  | $ | 1,659,802 |  |  | $ | 2,167,688 |  |  |
Equipment sales | 70,989 |  |  | 174,856 |  |  | 401,106 |  |  | 554,810 |  |  |
Total operating revenues | 309,077 |  |  | 896,563 |  |  | 2,060,908 |  |  | 2,722,498 |  |  |
Operating expenses |  |  |  |  |  |  |  |  |
System operations (excluding Depreciation, amortization and accretion reported below) | 46,502 |  |  | 161,019 |  |  | 367,994 |  |  | 486,443 |  |  |
Cost of equipment sold | 79,604 |  |  | 200,336 |  |  | 463,184 |  |  | 623,670 |  |  |
Selling, general and administrative | 79,140 |  |  | 305,844 |  |  | 700,079 |  |  | 900,807 |  |  |
Depreciation, amortization and accretion | 50,468 |  |  | 155,745 |  |  | 351,274 |  |  | 462,967 |  |  |
(Gain) loss on asset disposals, net | 913 |  |  | 3,449 |  |  | 5,314 |  |  | 13,741 |  |  |
(Gain) loss on sale of business and other exit costs, net | 272,574 |  |  | — |  |  | 272,574 |  |  | — |  |  |
Total operating expenses | 529,201 |  |  | 826,393 |  |  | 2,160,419 |  |  | 2,487,628 |  |  |
Operating income (loss) | (220,124) |  |  | 70,170 |  |  | (99,511) |  |  | 234,870 |  |  |
Other income (expense) |  |  |  |  |  |  |  |  |
Interest expense | (15,255) |  |  | (43,695) |  |  | (91,714) |  |  | (129,005) |  |  |
Other, net | 400 |  |  | (52) |  |  | 190 |  |  | (83) |  |  |
Total other income (expense) | (14,855) |  |  | (43,747) |  |  | (91,524) |  |  | (129,088) |  |  |
Income (loss) before income taxes | (234,979) |  |  | 26,423 |  |  | (191,035) |  |  | 105,782 |  |  |
Income tax expense (benefit) | (83,080) |  |  | 5,598 |  |  | (58,885) |  |  | 37,629 |  |  |
Net income (loss) from discontinued operations | $ | (151,899) |  |  | $ | 20,825 |  |  | $ | (132,150) |  |  | $ | 68,153 |  |  |

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