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Consolidated Statement of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Operating revenues        
Total operating revenues $ 308,521 $ 327,497 $ 897,495 $ 1,001,630
Operating expenses        
Selling, general and administrative 106,188 116,559 331,206 370,693
Depreciation, amortization and accretion 91,746 80,882 262,095 240,880
Loss on impairment of licenses 47,679 136,234 47,679 136,234
(Gain) loss on asset disposals, net 729 2,823 8,524 8,898
(Gain) loss on sale of business and other exit costs, net 2,844 (11,733) (6,032) (11,733)
(Gain) loss on license sales and exchanges, net (1,323) (2,200) (6,123) 4,360
Total operating expenses 376,495 477,225 1,011,710 1,209,768
Operating income (loss) (67,974) (149,728) (114,215) (208,138)
Other income (expense)        
Equity in earnings of unconsolidated entities 69,838 43,415 149,309 125,117
Interest and dividend income 15,663 7,952 28,044 20,268
Interest expense (47,278) (32,694) (100,352) (78,918)
Short-term imputed spectrum lease income 30,413 0 30,413 0
Other, net 5,347 1,035 10,464 3,081
Total other income 73,983 19,708 117,878 69,548
Income (loss) before income taxes 6,009 (130,020) 3,663 (138,590)
Income tax expense (benefit) (72,772) (30,656) (85,119) (36,795)
Net income (loss) from continuing operations 78,781 (99,364) 88,782 (101,795)
Less: Net income from continuing operations attributable to noncontrolling interests, net of tax 21,236 (16,222) 25,903 (11,313)
Net income (loss) from continuing operations attributable to TDS shareholders 57,545 (83,142) 62,879 (90,482)
Net income (loss) from discontinued operations (151,899) 20,825 (132,150) 68,153
Less: Net income (loss) from discontinued operations attributable to noncontrolling interests, net of tax (12,604) 3,421 (6,563) 11,238
Net income (loss) from discontinued operations attributable to TDS shareholders (139,295) 17,404 (125,587) 56,915
Net income (loss) (73,118) (78,539) (43,368) (33,642)
Less: Net income from continuing operations attributable to noncontrolling interests, net of tax 8,632 (12,801) 19,340 (75)
Net income (loss) attributable to TDS shareholders (81,750) (65,738) (62,708) (33,567)
TDS Preferred Share dividends 17,306 17,306 51,919 51,919
Net income (loss) attributable to TDS common shareholders $ (99,056) $ (83,044) $ (114,627) $ (85,486)
Basic weighted average shares outstanding (in shares) 116,126 114,029 115,318 113,523
Basic earnings (loss) per share from continuing operations attributable to TDS shareholders $ 0.35 $ (0.88) $ 0.10 $ (1.25)
Basic earnings (loss) per share from discontinued operations attributable to TDS shareholders (1.20) 0.15 (1.09) 0.50
Basic earnings (loss) per share attributable to TDS common shareholders $ (0.85) $ (0.73) $ (0.99) $ (0.75)
Diluted weighted average shares outstanding (in shares) 118,844 114,029 118,786 113,523
Diluted earnings (loss) per share from continuing operations attributable to TDS shareholders $ 0.33 $ (0.88) $ 0.07 $ (1.25)
Diluted earnings (loss) per share from discontinued operations attributable to TDS shareholders (1.17) 0.15 (1.06) 0.50
Diluted earnings (loss) per share attributable to TDS common shareholders $ (0.84) $ (0.73) $ (0.99) $ (0.75)
Service        
Operating revenues        
Total operating revenues $ 255,933 $ 279,420 $ 777,677 $ 860,876
Operating expenses        
Cost of goods and services 123,180 134,344 356,781 403,578
Equipment and product sales        
Operating revenues        
Total operating revenues 6,750 22,408 20,155 64,163
Operating expenses        
Cost of goods and services 5,452 20,316 17,580 56,858
Site rental        
Operating revenues        
Total operating revenues $ 45,838 $ 25,669 $ 99,663 $ 76,591