XML 46 R21.htm IDEA: XBRL DOCUMENT
v3.25.3

Business Segment Information | 9 Months Ended
--- | ---
Sep. 30, 2025
Segment Reporting [Abstract] |
Business Segment Information | Note 14 Business Segment Information TDS has the following reportable segments: Array and TDS Telecom. As of September 30, 2025, the wireless operations and select spectrum assets sold to T-Mobile qualified as discontinued operations. See Note 2 — Discontinued Operations for additional information. The wireless operations and select spectrum assets sold were reported within the Wireless segment in prior periods and as a result of the sale, the previously reported Wireless and Towers segments no longer meet the criteria to be reportable segments and Array is now a single reportable segment. Array generates its revenues by leasing tower space on Array-owned towers to other wireless carriers. TDS Telecom generates its revenues by providing broadband, video, voice and wireless services. The reportable segments are billed for services they receive from TDS, consisting primarily of information processing, accounting, finance, and general management services. Such billings are based on expenses specifically identified to the reportable segments and on allocations of common expenses. Management believes the method used to allocate common expenses is reasonable and that all expenses and costs applicable to the reportable segments are reflected in the accompanying business segment information. Adjusted earnings before interest, taxes, depreciation, amortization and accretion (Adjusted EBITDA) is the segment measure of profit or loss reported to the chief operating decision maker for purposes of assessing the segments' performance and making capital allocation decisions. Adjusted EBITDA is a non-GAAP financial measure that shows adjusted earnings before interest, taxes, depreciation, amortization and accretion, gains and losses, and expenses related to the strategic alternatives review. TDS believes Adjusted EBITDA is a useful measure of TDS’ operating results before significant recurring non-cash charges, gains and losses, and other items as presented below as it provides additional relevant and useful information to investors and other users of TDS' financial data in evaluating the effectiveness of its operations and underlying business trends in a manner that is consistent with management's evaluation of business performance. TDS’ chief operating decision maker is its President and Chief Executive Officer. Financial data from continuing operations for TDS’ reportable segments for the three and nine months ended September 30, 2025 and 2024, is as follows.
Three Months Ended September 30, 2025 |  | Array | TDS Telecom | Total
(Dollars in thousands) |  |  |  |
Revenues from external customers |  | $ | 47,119 |  | $ | 254,890 |  | $ | 302,009 |
Intersegment revenues |  | — |  | 221 |  | 221 |
|  | 47,119 |  | 255,111 |  | 302,230 |
Reconciliation of revenue: |  |  |  |
All Other revenues 1 |  |  |  | 6,512 |
Elimination of intersegment revenues |  |  |  | (221) |
Total operating revenues |  |  |  | $ | 308,521 |
Add back or deduct 2: |  |  |  |
Cost of operations (excluding Depreciation, amortization and accretion reported below) |  | (20,976) |  | (102,253) |  |
Cost of equipment and products |  | — |  | (182) |  |
Selling, general and administrative |  | (20,525) |  | (79,201) |  |
Expenses related to strategic alternatives review (included in Selling, general and administrative) |  | 489 |  | 3,497 |  |
Equity in earnings of unconsolidated entities |  | 69,811 |  | 3 |  |
Interest and dividend income |  | 8,909 |  | 1,824 |  |
Other segment items |  | 254 |  | 1,692 |  |
Segment Adjusted EBITDA (Non-GAAP) |  | $ | 85,081 |  | $ | 80,491 |  | $ | 165,572 |
Reconciliation of Segment Adjusted EBITDA to Income before income taxes: |  |  |  |
All Other income (loss) before income taxes 1 |  |  |  | (38,180) |
Short-term imputed spectrum lease income |  |  |  | 30,413 |
Depreciation, amortization and accretion |  |  |  | (90,769) |
Expenses related to strategic alternatives review (included in Selling, general and administrative) |  |  |  | (3,986) |
Loss on impairment of licenses |  |  |  | (47,679) |
Loss on asset disposals, net |  |  |  | (729) |
Loss on sale of business and other exit costs, net |  |  |  | (2,844) |
Gain on license sales and exchanges, net |  |  |  | 1,323 |
Interest expense |  |  |  | (7,112) |
Income before income taxes |  |  |  | $ | 6,009 |
Other segment disclosures |  |  |  |  |  |  |
Three Months Ended or as of September 30, 2025 |  | Array | TDS Telecom | Segment Total |  | All Other 1 | TDS Consolidated Total
Short-term imputed spectrum lease income |  | $ | 30,413 |  | $ | — |  | $ | 30,413 |  |  | $ | — |  | $ | 30,413 |
Depreciation, amortization and accretion |  | (11,868) |  | (78,901) |  | (90,769) |  |  | (977) |  | (91,746) |
Loss on impairment of licenses |  | (47,679) |  | — |  | (47,679) |  |  | — |  | (47,679) |
Loss on asset disposals, net |  | (707) |  | (22) |  | (729) |  |  | — |  | (729) |
Loss on sale of business and other exit costs, net |  | — |  | (2,844) |  | (2,844) |  |  | — |  | (2,844) |
Gain on license sales and exchanges, net |  | 1,323 |  | — |  | 1,323 |  |  | — |  | 1,323 |
Interest expense |  | (8,855) |  | 1,743 |  | (7,112) |  |  | (40,166) |  | (47,278) |
Investments in unconsolidated entities |  | 452,174 |  | 3,947 |  | 456,121 |  |  | 44,876 |  | 500,997 |
Total assets |  | 4,918,327 |  | 2,916,686 |  | 7,835,013 |  |  | 697,365 |  | 8,532,378 |
Capital expenditures from continuing operations |  | $ | 7,927 |  | $ | 102,429 |  | $ | 110,356 |  |  | $ | (358) |  | $ | 109,998 |
Three Months Ended September 30, 2024 |  | Array | TDS Telecom | Total
(Dollars in thousands) |  |  |  |
Revenues from external customers |  | $ | 25,739 |  | $ | 261,905 |  | $ | 287,644 |
Intersegment revenues |  | — |  | 757 |  | 757 |
|  | 25,739 |  | 262,662 |  | 288,401 |
Reconciliation of revenue: |  |  |  |
All Other revenues 1 |  |  |  | 39,853 |
Elimination of intersegment revenues |  |  |  | (757) |
Total operating revenues |  |  |  | $ | 327,497 |
Add back or deduct 2: |  |  |  |
Cost of operations (excluding Depreciation, amortization and accretion reported below) |  | (18,263) |  | (101,107) |  |
Cost of equipment and products |  | — |  | (211) |  |
Selling, general and administrative |  | (21,176) |  | (80,814) |  |
Expenses related to strategic alternatives review (included in Selling, general and administrative) |  | 1,253 |  | — |  |
Equity earnings of unconsolidated entities |  | 43,109 |  | 1 |  |
Interest and dividend income |  | 3,552 |  | 1,368 |  |
Other segment items |  | — |  | 897 |  |
Segment Adjusted EBITDA (Non-GAAP) |  | $ | 34,214 |  | $ | 82,796 |  | $ | 117,010 |
Reconciliation of Segment Adjusted EBITDA to Income before income taxes: |  |  |  |
All Other income (loss) before income taxes 1 |  |  |  | (25,987) |
Depreciation, amortization and accretion |  |  |  | (79,901) |
Expenses related to strategic alternatives review (included in Selling, general and administrative) |  |  |  | (1,253) |
Loss on impairment of licenses |  |  |  | (136,234) |
Loss on asset disposals, net |  |  |  | (2,876) |
Gain on license sales and exchanges, net |  |  |  | 2,200 |
Interest expense |  |  |  | (2,979) |
Income (loss) before income taxes |  |  |  | $ | (130,020) |
Other segment disclosures |  |  |  |  |  |  |
Three Months Ended or as of September 30, 2024 |  | Array | TDS Telecom | Segment Total |  | All Other 1 | TDS Consolidated Total
Depreciation, amortization and accretion |  | $ | (12,237) |  | $ | (67,664) |  | $ | (79,901) |  |  | $ | (981) |  | $ | (80,882) |
Loss on impairment of licenses |  | (136,234) |  | — |  | (136,234) |  |  | — |  | (136,234) |
Loss on asset disposals, net |  | (196) |  | (2,680) |  | (2,876) |  |  | 53 |  | (2,823) |
Gain on sale of business and other exit costs, net |  | — |  | — |  | — |  |  | 11,733 |  | 11,733 |
Gain on license sales and exchanges, net |  | 2,200 |  | — |  | 2,200 |  |  | — |  | 2,200 |
Interest expense |  | (4,241) |  | 1,262 |  | (2,979) |  |  | (29,715) |  | (32,694) |
Investments in unconsolidated entities |  | 478,263 |  | 3,950 |  | 482,213 |  |  | 41,996 |  | 524,209 |
Total assets |  | 10,516,361 |  | 2,923,354 |  | 13,439,715 |  |  | 286,735 |  | 13,726,450 |
Capital expenditures from continuing operations |  | $ | 4,406 |  | $ | 77,904 |  | $ | 82,310 |  |  | $ | 1,374 |  | $ | 83,684 |
Nine Months Ended September 30, 2025 |  | Array | TDS Telecom | Total
(Dollars in thousands) |  |  |  |
Revenues from external customers |  | $ | 102,632 |  | $ | 775,592 |  | $ | 878,224 |
Intersegment revenues |  | — |  | 1,811 |  | 1,811 |
|  | 102,632 |  | 777,403 |  | 880,035 |
Reconciliation of revenue: |  |  |  |
All Other revenues 1 |  |  |  | 19,271 |
Elimination of intersegment revenues |  |  |  | (1,811) |
Total operating revenues |  |  |  | $ | 897,495 |
Add back or deduct 2: |  |  |  |
Cost of operations (excluding Depreciation, amortization and accretion reported below) |  | (56,662) |  | (300,265) |  |
Cost of equipment and products |  | — |  | (562) |  |
Selling, general and administrative |  | (69,063) |  | (244,905) |  |
Expenses related to strategic alternatives review (included in Selling, general and administrative) |  | 2,349 |  | 3,497 |  |
Equity earnings of unconsolidated entities |  | 147,453 |  | 4 |  |
Interest and dividend income |  | 15,267 |  | 4,918 |  |
Other segment items |  | 253 |  | 5,262 |  |
Segment Adjusted EBITDA (Non-GAAP) |  | $ | 142,229 |  | $ | 245,352 |  | $ | 387,581 |
Reconciliation of Segment Adjusted EBITDA to Income before income taxes: |  |  |  |
All Other income (loss) before income taxes 1 |  |  |  | (92,251) |
Short-term spectrum lease income |  |  |  | 30,413 |
Depreciation, amortization and accretion |  |  |  | (259,338) |
Expenses related to strategic alternatives review (included in Selling, general and administrative) |  |  |  | (5,846) |
Loss on impairment of licenses |  |  |  | (47,679) |
Loss on asset disposals, net |  |  |  | (8,510) |
Gain on sale of business and other exit costs, net |  |  |  | 5,235 |
Gain on license sales and exchanges, net |  |  |  | 6,123 |
Interest expense |  |  |  | (12,065) |
Income before income taxes |  |  |  | $ | 3,663 |
Other segment disclosures |  |  |  |  |  |  |
Nine Months Ended September 30, 2025 |  | Array | TDS Telecom | Segment Total |  | All Other 1 | TDS Consolidated Total
Short-term imputed spectrum lease income |  | $ | 30,413 |  | $ | — |  | $ | 30,413 |  |  | $ | — |  | $ | 30,413 |
Depreciation, amortization and accretion |  | (35,860) |  | (223,478) |  | (259,338) |  |  | (2,757) |  | (262,095) |
Loss on impairment of licenses |  | (47,679) |  | — |  | (47,679) |  |  | — |  | (47,679) |
Loss on asset disposals, net |  | (620) |  | (7,890) |  | (8,510) |  |  | (14) |  | (8,524) |
Gain on sale of business and other exit costs, net |  | — |  | 5,235 |  | 5,235 |  |  | 797 |  | 6,032 |
Gain on license sales and exchanges, net |  | 6,123 |  | — |  | 6,123 |  |  | — |  | 6,123 |
Interest expense |  | (16,233) |  | 4,168 |  | (12,065) |  |  | (88,287) |  | (100,352) |
Capital expenditures from continuing operations |  | $ | 16,978 |  | $ | 251,486 |  | $ | 268,464 |  |  | $ | 265 |  | $ | 268,729 |
Nine Months Ended September 30, 2024 |  | Array | TDS Telecom | Total
(Dollars in thousands) |  |  |  |
Revenues from external customers |  | $ | 76,845 |  | $ | 794,046 |  | $ | 870,891 |
Intersegment revenues |  | — |  | 2,516 |  | 2,516 |
|  | 76,845 |  | 796,562 |  | 873,407 |
Reconciliation of revenue: |  |  |  |
All Other revenues 1 |  |  |  | 130,739 |
Elimination of intersegment revenues |  |  |  | (2,516) |
Total operating revenues |  |  |  | $ | 1,001,630 |
Add back or deduct 2: |  |  |  |
Cost of operations (excluding Depreciation, amortization and accretion reported below) |  | (52,822) |  | (296,768) |  |
Cost of equipment and products |  | — |  | (514) |  |
Selling, general and administrative |  | (78,997) |  | (236,134) |  |
Expenses related to strategic alternatives review (included in Selling, general and administrative) |  | 19,913 |  | — |  |
Equity earnings of unconsolidated entities |  | 123,445 |  | 1 |  |
Interest and dividend income |  | 9,076 |  | 3,591 |  |
Other segment items |  | — |  | 2,664 |  |
Segment Adjusted EBITDA (Non-GAAP) |  | $ | 97,460 |  | $ | 269,402 |  | $ | 366,862 |
Reconciliation of Segment Adjusted EBITDA to Income before income taxes: |  |  |  |
All Other income (loss) before income taxes 1 |  |  |  | (96,326) |
Depreciation, amortization and accretion |  |  |  | (234,005) |
Expenses related to strategic alternatives review (included in Selling, general and administrative) |  |  |  | (19,913) |
Loss on impairment of licenses |  |  |  | (136,234) |
Loss on asset disposals, net |  |  |  | (8,934) |
Loss on license sales and exchanges, net |  |  |  | (4,360) |
Interest expense |  |  |  | (5,680) |
Income (loss) before income taxes |  |  |  | $ | (138,590) |
Other segment disclosures |  |  |  |  |  |  |
Nine Months Ended September 30, 2024 |  | Array | TDS Telecom | Segment Total |  | All Other 1 | TDS Consolidated Total
Depreciation, amortization and accretion |  | $ | (35,058) |  | $ | (198,947) |  | $ | (234,005) |  |  | $ | (6,875) |  | $ | (240,880) |
Loss on impairment of licenses |  | (136,234) |  | — |  | (136,234) |  |  | — |  | (136,234) |
Loss on asset disposals, net |  | (590) |  | (8,344) |  | (8,934) |  |  | 36 |  | (8,898) |
Gain on sale of business and other exit costs, net |  | — |  | — |  | — |  |  | 11,733 |  | 11,733 |
Loss on license sales and exchanges, net |  | (4,360) |  | — |  | (4,360) |  |  | — |  | (4,360) |
Interest expense |  | (9,201) |  | 3,521 |  | (5,680) |  |  | (73,238) |  | (78,918) |
Capital expenditures from continuing operations |  | $ | 11,570 |  | $ | 242,069 |  | $ | 253,639 |  |  | $ | 5,653 |  | $ | 259,292 |
Numbers may not foot due to rounding. 1"All Other" represents TDS' non-reportable other business activities that do not meet the quantitative thresholds for being a reportable segment. 2 The significant segment expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. Intersegment expenses are included within the amounts shown.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 12: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 14: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 16: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration