Note 7 Investments in Unconsolidated Entities

Investments in unconsolidated entities consist of amounts invested in wireless entities in which U.S. Cellular holds a noncontrolling interest. These investments are accounted for using either the equity or cost method.

The following table, which is based in part on information provided by third parties, summarizes the combined results of operations of U.S. Cellular’s equity method investments.

	Three Months Ended March 31,
	2017		2016
(Dollars in millions)
Revenues	$	1,610	$	1,682
Operating expenses		1,212		1,230
Operating income		398		452
Other expense, net		–		(4)
Net income	$	398	$	448