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Investments in Unconsolidated Entities | 3 Months Ended
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Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract] |
Investments in unconsolidated entities | Note 7 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 the equity method, measurement alternative method or net asset value practical expedient 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.
| March 31, 2022 |  | December 31, 2021
(Dollars in millions) |  |  |
Equity method investments | $ | 451 |  |  | $ | 431 |
Measurement alternative method investments | 4 |  |  | 8 |
Investments recorded using the net asset value practical expedient | 10 |  |  | — |
Total investments in unconsolidated entities | $ | 465 |  |  | $ | 439 |
The following table, which is based on unaudited information provided in part by third parties, summarizes the combined results of operations of UScellular’s equity method investments.
|  |  | Three Months Ended March 31,
|  |  |  |  | 2022 |  | 2021
(Dollars in millions) |  |  |  |  |  |  |
Revenues |  |  |  |  | $ | 1,809 |  |  | $ | 1,727 |
Operating expenses |  |  |  |  | 1,371 |  |  | 1,275 |
Operating income |  |  |  |  | 438 |  |  | 452 |
Other income (expense), net |  |  |  |  | (4) |  |  | 12 |
Net income |  |  |  |  | $ | 434 |  |  | $ | 464 |

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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