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Consolidated Balance Sheet - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 300 $ 156
Accounts receivable    
Customers and agents, less allowances of $59 and $57, respectively 964 976
Roaming 5 7
Affiliated 1 0
Other, less allowances of $1 and $2, respectively 50 63
Inventory, net 177 173
Prepaid expenses 63 58
Income taxes receivable 0 123
Other current assets 51 49
Total current assets 1,611 1,605
Assets held for sale 15 18
Licenses 4,677 4,088
Investments in unconsolidated entities 465 439
Property, plant and equipment    
In service and under construction 9,136 9,056
Less: Accumulated depreciation and amortization 6,560 6,450
Property, plant and equipment, net 2,576 2,606
Operating lease right-of-use assets 952 959
Other assets and deferred charges 579 626
Total assets [1] 10,875 10,341
Current liabilities    
Current portion of long-term debt 6 3
Accounts payable    
Affiliated 9 14
Trade 272 346
Customer deposits and deferred revenues 200 191
Accrued taxes 34 33
Accrued compensation 42 83
Short-term operating lease liabilities 131 129
Other current liabilities 179 104
Total current liabilities 873 903
Deferred liabilities and credits    
Deferred income tax liability, net 696 674
Long-term operating lease liabilities 882 889
Other deferred liabilities and credits 583 573
Long-term debt, net 3,220 2,728
Commitments and contingencies
Noncontrolling interests with redemption features 12 11
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 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 1,685 1,678
Treasury shares, at cost, 3 and 2 Common Shares, respectively (77) (68)
Retained earnings 2,897 2,849
Total UScellular shareholders' equity 4,593 4,547
Noncontrolling interests 16 16
Total equity 4,609 4,563
Total liabilities and equity [1] $ 10,875 $ 10,341
[1] The consolidated total assets as of March 31, 2022 and December 31, 2021, include assets held by consolidated variable interest entities (VIEs) of $1,433 million and $1,482 million, respectively, which are not available to be used to settle the obligations of UScellular. The consolidated total liabilities as of March 31, 2022 and December 31, 2021, include certain liabilities of consolidated VIEs of $23 million for which the creditors of the VIEs have no recourse to the general credit of UScellular. See Note 9 — Variable Interest Entities for additional information.