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Investments in Unconsolidated Entities | 12 Months Ended
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Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract] |
Investments in Unconsolidated Entities | Note 8 Investments in Unconsolidated Entities Investments in unconsolidated entities consist of amounts invested in entities in which UScellular holds a noncontrolling interest. UScellular's Investments in unconsolidated entities are accounted for using either the equity method or measurement alternative method as shown in the table below. The carrying value of measurement alternative method investments represents cost minus any impairments plus or minus any observable price changes.
December 31, | 2020 |  | 2019
(Dollars in millions) |  |  |
Equity method investments: |  |  |
Capital contributions, loans, advances and adjustments | $ | 104 |  |  | $ | 105 |
Cumulative share of income | 2,238 |  |  | 2,060 |
Cumulative share of distributions | (1,914) |  |  | (1,725) |
Total equity method investments | 428 |  |  | 440 |
Measurement alternative method investments | 7 |  |  | 7 |
Total investments in unconsolidated entities | $ | 435 |  |  | $ | 447 |
The following tables, which are based on unaudited information provided in part by third parties, summarize the combined assets, liabilities and equity, and results of operations of UScellular’s equity method investments:
December 31, | 2020 |  | 2019
(Dollars in millions) |  |  |
Assets |  |  |
Current | $ | 1,199 |  |  | $ | 1,477 |
Noncurrent | 5,849 |  |  | 5,725 |
Total assets | $ | 7,048 |  |  | $ | 7,202 |
Liabilities and Equity |  |  |
Current liabilities | $ | 643 |  |  | $ | 625 |
Noncurrent liabilities | 1,112 |  |  | 1,119 |
Partners' capital and shareholders' equity | 5,293 |  |  | 5,458 |
Total liabilities and equity | $ | 7,048 |  |  | $ | 7,202 |
Year Ended December 31, | 2020 |  | 2019 |  | 2018
(Dollars in millions) |  |  |  |  |
Results of Operations |  |  |  |  |
Revenues | $ | 6,677 |  |  | $ | 6,903 |  |  | $ | 6,777 |
Operating expenses | 4,733 |  |  | 5,022 |  |  | 4,965 |
Operating income | 1,944 |  |  | 1,881 |  |  | 1,812 |
Other income (expense), net | 16 |  |  | (22) |  |  | 11 |
Net income | $ | 1,960 |  |  | $ | 1,859 |  |  | $ | 1,823 |

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