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Consolidated Balance Sheet - USD ($)
$ in Millions
Jun. 30, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents $ 267 $ 1,271
Short-term investments 0 3
Accounts receivable    
Customers and agents, less allowances of $56 and $62, respectively 900 915
Roaming 10 13
Other, less allowances of $3 and $1, respectively 64 70
Inventory, net 183 146
Prepaid expenses 55 51
Income taxes receivable 126 125
Other current assets 40 29
Total current assets 1,645 2,623
Assets held for sale 3 2
Licenses 3,917 2,629
Investments in unconsolidated entities 445 435
Property, plant and equipment    
In service and under construction 8,874 8,785
Less: Accumulated depreciation and amortization 6,488 6,319
Property, plant and equipment, net 2,386 2,466
Operating lease right-of-use assets 950 924
Other assets and deferred charges 574 602
Total assets [1] 9,920 9,681
Current liabilities    
Current portion of long-term debt 3 2
Accounts payable    
Affiliated 10 10
Trade 283 377
Customer deposits and deferred revenues 153 151
Accrued taxes 46 48
Accrued compensation 53 82
Short-term operating lease liabilities 125 116
Other current liabilities 78 85
Total current liabilities 751 871
Liabilities held for sale 0 1
Deferred liabilities and credits    
Deferred income tax liability, net 668 633
Long-term operating lease liabilities 890 875
Other deferred liabilities and credits 372 376
Long-term debt, net 2,710 2,489
Commitments and contingencies
Noncontrolling interests with redemption features 10 10
UScellular 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 87 shares (33 Series A Common and 54 Common Shares) and 86 shares (33 Series A Common and 53 Common Shares) Par Value ($1.00 per share) ($33 Series A Common and $55 Common Shares) 88 88
Additional paid-in capital 1,663 1,651
Treasury shares, at cost, 1 and 2 Common Shares, respectively (42) (67)
Retained earnings 2,794 2,739
Total UScellular shareholders' equity 4,503 4,411
Noncontrolling interests 16 15
Total equity 4,519 4,426
Total liabilities and equity [1] $ 9,920 $ 9,681
[1] The consolidated total assets as of June 30, 2021 and December 31, 2020, include assets held by consolidated variable interest entities (VIEs) of $1,260 million and $1,060 million, respectively, which are not available to be used to settle the obligations of UScellular. The consolidated total liabilities as of June 30, 2021 and December 31, 2020, include certain liabilities of consolidated VIEs of $19 million and $20 million, respectively, for which the creditors of the VIEs have no recourse to the general credit of UScellular. See Note 10 — Variable Interest Entities for additional information.