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Consolidated Statement of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Operating revenues        
Total operating revenues $ 1,027 $ 1,014 $ 2,037 $ 2,037
Operating expenses        
Selling, general and administrative 339 334 663 639
Depreciation, amortization and accretion 172 180 342 350
Loss on impairment of licenses 3 0 3 0
(Gain) loss on asset disposals, net 6 2 8 7
(Gain) loss on sale of business and other exit costs, net 0 0 0 (1)
Total operating expenses 987 978 1,926 1,917
Operating income 40 36 111 120
Investment and other income (expense)        
Equity in earnings of unconsolidated entities 37 47 82 88
Interest and dividend income 3 2 4 3
Interest expense (40) (60) (73) (97)
Total investment and other income (expense) 0 (11) 13 (6)
Income before income taxes 40 25 124 114
Income tax expense (benefit) 18 (10) 50 17
Net income 22 35 74 97
Less: Net income attributable to noncontrolling interests, net of tax 1 0 3 2
Net income attributable to UScellular shareholders $ 21 $ 35 $ 71 $ 95
Basic weighted average shares outstanding (in shares) 86 87 86 87
Basic earnings per share attributable to UScellular shareholders (in dollars per share) $ 0.25 $ 0.40 $ 0.82 $ 1.10
Diluted weighted average shares outstanding (in shares) 87 88 87 88
Diluted earnings per share attributable to UScellular shareholders (in dollars per share) $ 0.25 $ 0.39 $ 0.82 $ 1.08
Service        
Operating revenues        
Total operating revenues $ 783 $ 774 $ 1,570 $ 1,545
Operating expenses        
Cost of equipment sold 192 204 377 389
Equipment sales        
Operating revenues        
Total operating revenues 244 240 467 492
Operating expenses        
Cost of equipment sold $ 275 $ 258 $ 533 $ 533