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Investments in Unconsolidated Entities (Tables)
6 Months Ended
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, 2022December 31, 2021
(Dollars in millions)
Equity method investments$427 $431 
Measurement alternative method investments4 
Investments recorded using the net asset value practical expedient10 — 
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,
2022202120222021
(Dollars in millions)
Revenues$1,772 $1,742 $3,581 $3,469 
Operating expenses1,390 1,216 2,761 2,491 
Operating income382 526 820 978 
Other income (expense), net(1)(2)(5)10 
Net income$381 $524 $815 $988