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Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Schedule of new accounting pronouncements and changes in accounting principles

The cumulative effect of the adoption of ASC 842 on U.S. Cellular’s Consolidated Balance Sheet as of January 1, 2019 is presented below.

	December 31, 2018			ASC 842 Adjustment			January 1, 2019
(Dollars in millions)
Prepaid expenses	$	63		$	(13	)	$	50
Operating lease right-of-use assets	—			899			899
Other assets and deferred charges	579			(12		)	567
Short-term operating lease liabilities	—			101			101
Other current liabilities	94			(8		)	86
Long-term operating lease liabilities	—			878			878
Other deferred liabilities and credits	389			(97		)	292

Components of lease expense

The following table shows the components of lease cost included in the Consolidated Statement of Operations:

	Three Months Ended September 30, 2019				Nine Months Ended September 30, 2019
(Dollars in millions)
Operating lease cost	$	42			$	121
Financing lease cost:
Amortization of ROU assets	—				1
Variable lease cost	2				6
Total lease cost	$	44			$	128

Supplemental cash flow information related to leases

The following table shows supplemental cash flow information related to lease activities:

	Nine Months Ended September 30, 2019
(Dollars in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	116
ROU assets obtained in exchange for lease obligations:
Operating leases	$	90

Supplemental balance sheet information related to leases

The following table shows the classification of U.S. Cellular’s operating and finance leases in its Consolidated Balance Sheet:

	September 30, 2019
(Dollars in millions)
Operating Leases
Operating lease right-of-use assets	$	897
Short-term operating lease liabilities	$	104
Long-term operating lease liabilities	864
Total operating lease liabilities	$	968
Finance Leases
Property, plant and equipment	$	7
Less: Accumulated depreciation and amortization	4
Property, plant and equipment, net	$	3
Current portion of long-term debt	$	1
Long-term debt, net	3
Total finance lease liabilities	$	4

Schedule of weighted average remaining lease term and weighted average discount rate related to leases

The table below shows a weighted-average analysis for lease term and discount rate for all leases:

	September 30, 2019
Weighted Average Remaining Lease Term
Operating leases	13 years
Finance leases	25 years
Weighted Average Discount Rate
Operating leases	4.5	%
Finance leases	7.0	%

Maturities of lease liabilities

The maturities of lease liabilities are as follows:

	Operating Leases				Finance Leases
(Dollars in millions)
Remainder of 2019	$	27			$	—
2020	154				1
2021	139				—
2022	123				—
2023	108				1
Thereafter	788				11
Total lease payments1	$	1,339			$	13
Less: Imputed interest	371				9
Present value of lease liabilities	$	968			$	4

¹ 

Lease payments exclude $11 million of legally binding lease payments for leases signed but not yet commenced.

Lease income

The following table shows the components of lease income which are included in service revenues in the Consolidated Statement of Operations:

	Three Months Ended September 30, 2019				Nine Months Ended September 30, 2019
(Dollars in millions)
Operating lease income1	$	23			$	55

¹ 

During the third quarter of 2019, U.S. Cellular recorded an out-of-period adjustment attributable to 2009 through the second quarter of 2019 due to errors in the timing of recognition of revenue for certain tower leases. This out-of-period adjustment had the impact of increasing operating lease income by $5 million for the three and nine months ended September 30, 2019. U.S. Cellular determined that this adjustment was not material to any of the periods impacted.

Maturities of expected lease revenues

The maturities of expected lease payments to be received are as follows:

	Operating Leases
(Dollars in millions)
Remainder of 2019	$	11
2020	60
2021	48
2022	36
2023	23
Thereafter	12
Total future lease maturities	$	190

Lease commitments

As of December 31, 2018, future minimum rental payments required under operating leases and rental receipts expected under operating leases that have noncancellable lease terms in excess of one year were as follows:

	Operating Leases Future Minimum Rental Payments				Operating Leases Future Minimum Rental Receipts
(Dollars in millions)
2019	$	154			$	58
2020	143				47
2021	128				34
2022	112				22
2023	97				10
Thereafter	769				3
Total	$	1,403			$	174

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