XML 20 R9.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Revision of Period Period Amounts | 6 Months Ended
--- | ---
Jun. 30, 2012
Disclosure Text Block |
Revision of Prior Period Amounts | 2. Revision of Prior Period Amounts In preparing its Consolidated Statement of Cash Flows for the year ended December 31, 2011, U.S. Cellular discovered certain errors related to the classification of outstanding checks with the right of offset and the classification of Accounts payable-trade for Additions to property, plant and equipment. These errors resulted in the misstatement of Cash and cash equivalents and Accounts payable-trade as of December 31, 2010 and each quarterly period in 2011, and the misstatement of Cash flows from operating activities and Cash flows from investing activities for the years ended December 31, 2010 and 2009 and each of the quarterly periods in 2011 and 2010. In accordance with SEC Staff Accounting Bulletin Nos. 99 and 108 ("SAB 99" and "SAB 108"), U.S. Cellular evaluated these errors and determined that they were immaterial to each of the reporting periods affected and, therefore, amendment of previously filed reports was not required. However, in order to provide consistency in the Consolidated Statement of Cash Flows and as permitted by SAB 108, revisions for these immaterial amounts to previously reported amounts were reflected in the financial information as of and for the periods ended December 31, 2011, are reflected in t he financial information herein and will be reflected in future filings containing such financial information. I n preparing its financial statements for the nine months ended September 30, 2011, U.S. Cellular discovered certain errors related to accounting for asset retirement obligations and asset retirement costs. These errors resulted in the over statement of Total o perating expenses, Property, plant and equipment, net and Other d eferred liabilities and credits in the first and second quarter 2011 interim financial statements and in the 2010, 2009 and 2008 annual periods reported in the Company's December 31, 2010 financial statements. The December 31, 2007 R etained earnings balance presented in the December 31, 2010 annual financial statements also was ov erstated as a result of these errors. In accordance with SAB 99 and SAB 108, U.S. Cellular evaluated these errors and determined that they were immaterial to each of the reporting periods affected and, therefore, amendment s of previously filed reports w ere not required. However, if the adjustments to correct the cumulative errors had been recorded in the third quarter 2011, U.S. Cellular believes that the impact would have been significant to the third quarter results and would have impact ed comparisons to prior periods. As permitted by SAB 108, revisions for these immaterial amounts to previously reported annual and quarterly results were reflected in the financial information as of and for the periods ended September 30, 2011 and December 31, 2011, and are reflected in the financial information herein. I n accordance with SAB 108, the combined effects of the foregoing revisions to the Consolidated Statement of Operations and the Consolidated Statement of Cash Flows were as follows:
Consolidated Statement of Operations -- Three Months Ended June 30, 2011 |
|  |  |  | As previously |  |  |  |  |  |  |  |  |
| (Dollars in thousands except per share amounts) | reported (1) |  |  |  | Adjustment |  |  |  | Revised |
| Depreciation, amortization and accretion | $ | 148,283 |  |  | $ | (1,706 | ) |  | $ | 146,577 |
| Total operating expenses |  | 973,792 |  |  |  | (1,706 | ) |  |  | 972,086 |
| Operating income |  | 102,390 |  |  |  | 1,706 |  |  |  | 104,096 |
| Income before income taxes |  | 113,958 |  |  |  | 1,706 |  |  |  | 115,664 |
| Income tax expense |  | 34,077 |  |  |  | 655 |  |  |  | 34,732 |
| Net income |  | 79,881 |  |  |  | 1,051 |  |  |  | 80,932 |
| Net income attributable to U.S. Cellular shareholders |  | 73,888 |  |  |  | 1,051 |  |  |  | 74,939 |
| Basic earnings per share attributable to U.S. Cellular shareholders |  | 0.87 |  |  |  | 0.01 |  |  |  | 0.88 |
| Diluted earnings per share attributable to U.S. Cellular shareholders |  | 0.87 |  |  |  | 0.01 |  |  |  | 0.88 |
Consolidated Statement of Operations -- Six Months Ended June 30, 2011 |
|  |  |  | As previously |  |  |  |  |  |  |  |  |
| (Dollars in thousands except per share amounts) | reported (1) |  |  |  | Adjustment |  |  |  | Revised |
| Depreciation, amortization and accretion | $ | 293,328 |  |  | $ | (3,411 | ) |  | $ | 289,917 |
| Total operating expenses |  | 1,973,841 |  |  |  | (3,411 | ) |  |  | 1,970,430 |
| Operating income |  | 159,433 |  |  |  | 3,411 |  |  |  | 162,844 |
| Income before income taxes |  | 177,430 |  |  |  | 3,411 |  |  |  | 180,841 |
| Income tax expense |  | 58,169 |  |  |  | 1,310 |  |  |  | 59,479 |
| Net income |  | 119,261 |  |  |  | 2,101 |  |  |  | 121,362 |
| Net income attributable to U.S. Cellular shareholders |  | 107,999 |  |  |  | 2,101 |  |  |  | 110,100 |
| Basic earnings per share attributable to U.S. Cellular shareholders |  | 1.27 |  |  |  | 0.02 |  |  |  | 1.29 |
| Diluted earnings per share attributable to U.S. Cellular shareholders |  | 1.26 |  |  |  | 0.02 |  |  |  | 1.28 |
Consolidated Statement of Cash Flows -- Six Months Ended June 30, 2011 |  |
|  |  |  | As previously |  |  |  |  |  |  |  |  |
| (Dollars in thousands) | reported (1) |  |  |  | Adjustment |  |  |  | Revised |
| Net income | $ | 119,261 |  |  | $ | 2,101 |  |  | $ | 121,362 |
| Depreciation, amortization and accretion |  | 293,328 |  |  |  | (3,411 | ) |  |  | 289,917 |
| Change in Accounts payable-trade |  | 8,588 |  |  |  | 15,247 |  |  |  | 23,835 |
| Change in Accrued taxes |  | 10,215 |  |  |  | 1,310 |  |  |  | 11,525 |
| Change in Other assets and liabilities |  | (74,549 | ) |  |  | (579 | ) |  |  | (75,128 | )
| Cash flows from operating activities |  | 423,432 |  |  |  | 14,668 |  |  |  | 438,100 |
| Cash used for additions to property, plant and equipment |  | (258,040 | ) |  |  | (7,354 | ) |  |  | (265,394 | )
| Cash flows from investing activities |  | (222,516 | ) |  |  | (7,354 | ) |  |  | (229,870 | )
| Net increase (decrease) in cash and cash equivalents |  | 134,199 |  |  |  | 7,314 |  |  |  | 141,513 |
In Quarterly Report on Form 10-Q for the period ended June 30, 2011, filed on August 8, 2011.

X
- Definition The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 1.N.Q3) -URI http://asc.fasb.org/extlink&oid=6369664&loc=d3e30840-122693 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 45 -Paragraph 23 -URI http://asc.fasb.org/extlink&oid=6368906&loc=d3e21914-107793 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 154 -Paragraph 17, 22, 25, 26 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6801783&loc=d3e22499-107794 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 1 -Section N Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6801783&loc=d3e22595-107794 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=6801783&loc=d3e22644-107794 + Details
Name: | us-gaap_AccountingChangesAndErrorCorrectionsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration