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Consolidated Statement of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Operating revenues        
Total operating revenues $ 1,014 $ 973 $ 2,037 $ 1,937
Operating expenses        
Selling, general and administrative 334 323 639 659
Depreciation, amortization and accretion 180 178 350 354
(Gain) loss on asset disposals, net 2 4 7 8
(Gain) loss on sale of business and other exit costs, net 0 0 (1) 0
Total operating expenses 978 920 1,917 1,833
Operating income 36 53 120 104
Investment and other income (expense)        
Equity in earnings of unconsolidated entities 47 44 88 89
Interest and dividend income 2 1 3 5
Interest expense (60) (25) (97) (49)
Total investment and other income (expense) (11) 20 (6) 45
Income before income taxes 25 73 114 149
Income tax expense (benefit) (10) 4 17 8
Net income 35 69 97 141
Less: Net income attributable to noncontrolling interests, net of tax 0 1 2 2
Net income attributable to UScellular shareholders $ 35 $ 68 $ 95 $ 139
Basic weighted average shares outstanding (in shares) 87 86 87 86
Basic earnings per share attributable to UScellular shareholders (USD per share) $ 0.40 $ 0.79 $ 1.10 $ 1.62
Diluted weighted average shares outstanding (in shares) 88 87 88 87
Diluted earnings per share attributable to UScellular shareholders (in shares) $ 0.39 $ 0.78 $ 1.08 $ 1.59
Service        
Operating revenues        
Total operating revenues $ 774 $ 753 $ 1,545 $ 1,515
Operating expenses        
Cost of equipment sold 204 197 389 377
Equipment sales        
Operating revenues        
Total operating revenues 240 220 492 422
Operating expenses        
Cost of equipment sold $ 258 $ 218 $ 533 $ 435