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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, 2025ArrayTDS TelecomTotal
(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 revenues1
6,512 
Elimination of intersegment revenues(221)
Total operating revenues$308,521 
Add back or deduct2:
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 entities69,811 3 
Interest and dividend income8,909 1,824 
Other segment items254 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 taxes1
(38,180)
Short-term imputed spectrum lease income30,413 
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, net1,323 
Interest expense(7,112)
Income before income taxes$6,009 
Other segment disclosures
Three Months Ended or as of September 30, 2025ArrayTDS TelecomSegment Total
All Other1
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, net1,323 — 1,323 — 1,323 
Interest expense(8,855)1,743 (7,112)(40,166)(47,278)
Investments in unconsolidated entities452,174 3,947 456,121 44,876 500,997 
Total assets4,918,327 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, 2024ArrayTDS TelecomTotal
(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 revenues1
39,853 
Elimination of intersegment revenues(757)
Total operating revenues$327,497 
Add back or deduct2:
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 entities43,109 1 
Interest and dividend income3,552 1,368 
Other segment items— 897 
Segment Adjusted EBITDA (Non-GAAP)$34,214 $82,796 $117,010 
Reconciliation of Segment Adjusted EBITDA to Income before income taxes:
All Other income (loss) before income taxes1
(25,987)
Depreciation, amortization and accretion(79,901)
Expenses related to strategic alternatives review (included in Selling, general and administrative)(1,253)
Loss on impairment of licenses(136,234)
Loss on asset disposals, net(2,876)
Gain on license sales and exchanges, net2,200 
Interest expense(2,979)
Income (loss) before income taxes$(130,020)
Other segment disclosures
Three Months Ended or as of September 30, 2024ArrayTDS TelecomSegment Total
All Other1
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, net2,200 — 2,200 — 2,200 
Interest expense(4,241)1,262 (2,979)(29,715)(32,694)
Investments in unconsolidated entities478,263 3,950 482,213 41,996 524,209 
Total assets10,516,361 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, 2025ArrayTDS TelecomTotal
(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 revenues1
19,271 
Elimination of intersegment revenues(1,811)
Total operating revenues$897,495 
Add back or deduct2:
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 entities147,453 4 
Interest and dividend income15,267 4,918 
Other segment items253 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 taxes1
(92,251)
Short-term spectrum lease income30,413 
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, net5,235 
Gain on license sales and exchanges, net6,123 
Interest expense(12,065)
Income before income taxes$3,663 
Other segment disclosures
Nine Months Ended September 30, 2025ArrayTDS TelecomSegment Total
All Other1
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, net6,123 — 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, 2024ArrayTDS TelecomTotal
(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 revenues1
130,739 
Elimination of intersegment revenues(2,516)
Total operating revenues$1,001,630 
Add back or deduct2:
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 entities123,445 1 
Interest and dividend income9,076 3,591 
Other segment items— 2,664 
Segment Adjusted EBITDA (Non-GAAP)$97,460 $269,402 $366,862 
Reconciliation of Segment Adjusted EBITDA to Income before income taxes:
All Other income (loss) before income taxes1
(96,326)
Depreciation, amortization and accretion(234,005)
Expenses related to strategic alternatives review (included in Selling, general and administrative)(19,913)
Loss on impairment of licenses(136,234)
Loss on asset disposals, net(8,934)
Loss on license sales and exchanges, net(4,360)
Interest expense(5,680)
Income (loss) before income taxes$(138,590)
Other segment disclosures
Nine Months Ended September 30, 2024ArrayTDS TelecomSegment Total
All Other1
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.
2The 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.