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 September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
(Dollars in millions)
Revenues	$	1,590	$	1,674	$	4,830	$	4,992
Operating expenses		1,180		1,249		3,615		3,647
Operating income		410		425		1,215		1,345
Other expense, net		–		(2)		(2)		(9)
Net income	$	410	$	423	$	1,213	$	1,336