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Consolidated Statement of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Operating revenues        
Total operating revenues $ 1,016 $ 1,027 $ 3,053 $ 2,964
Operating expenses        
Selling, general and administrative 346 335 984 994
Depreciation, amortization and accretion 160 161 510 516
(Gain) loss on asset disposals, net 8 6 15 14
(Gain) loss on sale of business and other exit costs, net 0 0 (1) 0
Total operating expenses 971 962 2,888 2,796
Operating income 45 65 165 168
Investment and other income (expense)        
Equity in earnings of unconsolidated entities 48 48 137 137
Interest and dividend income 1 2 5 6
Gain (loss) on investments 0 3 0 3
Interest expense (45) (29) (144) (76)
Total investment and other income (expense) 4 24 (2) 70
Income before income taxes 49 89 163 238
Income tax expense 14 4 31 11
Net income 35 85 132 227
Less: Net income attributable to noncontrolling interests, net of tax 1 0 4 3
Net income attributable to UScellular shareholders $ 34 $ 85 $ 128 $ 224
Basic weighted average shares outstanding (in shares) 86 86 87 86
Basic earnings per share attributable to UScellular shareholders (USD per share) $ 0.39 $ 0.98 $ 1.48 $ 2.60
Diluted weighted average shares outstanding (in shares) 87 88 88 87
Diluted earnings per share attributable to UScellular shareholders (in shares) $ 0.38 $ 0.97 $ 1.46 $ 2.56
Service        
Operating revenues        
Total operating revenues $ 788 $ 775 $ 2,333 $ 2,290
Operating expenses        
Cost of equipment sold 205 203 594 580
Equipment sales        
Operating revenues        
Total operating revenues 228 252 720 674
Operating expenses        
Cost of equipment sold $ 252 $ 257 $ 786 $ 692