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Investments in Unconsolidated Entities (Tables) | 6 Months Ended
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Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract] |
Equity and measurement alternative method investments | 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.
| June 30, 2022 |  | December 31, 2021
(Dollars in millions) |  |  |
Equity method investments | $ | 427 |  |  | $ | 431 |
Measurement alternative method investments | 4 |  |  | 8 |
Investments recorded using the net asset value practical expedient | 10 |  |  | — |
Total investments in unconsolidated entities | $ | 441 |  |  | $ | 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 June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
(Dollars in millions) |  |  |  |  |  |  |
Revenues | $ | 1,772 |  |  | $ | 1,742 |  |  | $ | 3,581 |  |  | $ | 3,469 |
Operating expenses | 1,390 |  |  | 1,216 |  |  | 2,761 |  |  | 2,491 |
Operating income | 382 |  |  | 526 |  |  | 820 |  |  | 978 |
Other income (expense), net | (1) |  |  | (2) |  |  | (5) |  |  | 10 |
Net income | $ | 381 |  |  | $ | 524 |  |  | $ | 815 |  |  | $ | 988 |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
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