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Consolidated Balance Sheet - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 154 $ 273
Accounts receivable    
Customers and agents, less allowances of $68 and $70, respectively 940 985
Roaming 2 4
Affiliated 1 0
Other, less allowances of $3 and $2, respectively 66 83
Inventory, net 262 261
Prepaid expenses 76 68
Income taxes receivable 4 4
Other current assets 57 45
Total current assets 1,562 1,723
Assets held for sale 18 26
Licenses 4,692 4,690
Investments in unconsolidated entities 477 452
Property, plant and equipment    
In service and under construction 9,440 9,334
Less: Accumulated depreciation and amortization 6,782 6,710
Property, plant and equipment, net 2,658 2,624
Operating lease right-of-use assets 910 918
Other assets and deferred charges 680 686
Total assets [1] 10,997 11,119
Current liabilities    
Current portion of long-term debt 15 13
Accounts payable    
Affiliated 8 12
Trade 206 344
Customer deposits and deferred revenues 229 239
Accrued taxes 33 35
Accrued compensation 44 84
Short-term operating lease liabilities 133 133
Other current liabilities 285 335
Total current liabilities 953 1,195
Deferred liabilities and credits    
Deferred income tax liability, net 715 708
Long-term operating lease liabilities 836 843
Other deferred liabilities and credits 601 604
Long-term debt, net 3,297 3,187
Commitments and contingencies
Noncontrolling interests with redemption features 12 12
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 85 shares (33 Series A Common and 52 Common Shares) Par Value ($1.00 per share) ($33 Series A Common and $55 Common Shares) 88 88
Additional paid-in capital 1,704 1,703
Treasury shares, at cost, 3 Common Shares (96) (98)
Retained earnings 2,872 2,861
Total UScellular shareholders' equity 4,568 4,554
Noncontrolling interests 15 16
Total equity 4,583 4,570
Total liabilities and equity [1] $ 10,997 $ 11,119
[1] The consolidated total assets as of March 31, 2023 and December 31, 2022, include assets held by consolidated variable interest entities (VIEs) of $1,518 million and $1,265 million, respectively, which are not available to be used to settle the obligations of UScellular. The consolidated total liabilities as of March 31, 2023 and December 31, 2022, include certain liabilities of consolidated VIEs of $27 million and $25 million, respectively, 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.