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Consolidated Balance Sheet - USD ($)
$ in Millions
Jun. 30, 2017
Dec. 31, 2016
Current assets    
Cash and cash equivalents $ 472 $ 586
Accounts receivable    
Customers and agents, less allowances of $51 and $51, respectively 664 658
Roaming 16 16
Affiliated 1 2
Other, less allowances of $1 and $1, respectively 51 51
Inventory, net 141 138
Prepaid expenses 80 84
Other current assets 15 23
Total current assets 1,440 1,558
Assets held for sale 4 8
Licenses 2,226 1,886
Goodwill 370 370
Investments in unconsolidated entities 414 413
Property, plant and equipment    
In service and under construction 7,702 7,712
Less: Accumulated depreciation and amortization 5,398 5,242
Property, plant and equipment, net 2,304 2,470
Other assets and deferred charges 319 405
Total assets [1] 7,077 7,110
Current liabilities    
Current portion of long-term debt 11 11
Accounts payable    
Affiliated 8 12
Trade 250 309
Customer deposits and deferred revenues 183 190
Accrued taxes 79 39
Accrued compensation 46 73
Other current liabilities 74 84
Total current liabilities 651 718
Deferred liabilities and credits    
Deferred income tax liability, net 799 826
Other deferred liabilities and credits 316 302
Long-term debt, net 1,613 1,618
Commitments and contingencies
Noncontrolling interests with redemption features 1 1
U.S. Cellular shareholders' equity    
Series A Common and Common Shares Authorized 190 shares (50 Series A Common and 140 Common Shares) Issued 88 shares (33 Series A Common and 55 Common Shares) Outstanding 85 shares (33 Series A Common and 52 Common Shares) Par Value ($1.00 per share) ($33 Series A Common and $55 Common Shares) 88 88
Additional paid-in capital 1,536 1,522
Treasury Shares, at cost, 3 Common Shares (121) (136)
Retained earnings 2,183 2,160
Total U.S. Cellular shareholders' equity 3,686 3,634
Noncontrolling interests 11 11
Total equity 3,697 3,645
Total liabilities and equity [1] $ 7,077 $ 7,110
[1] The consolidated total assets as of June 30, 2017 and December 31, 2016, include assets held by consolidated VIEs of $779 million and $827 million, respectively, which are not available to be used to settle the obligations of U.S. Cellular. The consolidated total liabilities as of June 30, 2017 and December 31, 2016, include certain liabilities of consolidated VIEs of $19 million for which the creditors of the VIEs have no recourse to the general credit of U.S. Cellular. See Note 8 — Variable Interest Entities for additional information.