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Consolidated Statement of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Operating revenues        
Total operating revenues $ 963 $ 1,083 $ 2,906 $ 3,120
Operating expenses        
Selling, general and administrative 333 369 1,020 1,032
Depreciation, amortization and accretion 159 177 490 520
Loss on impairment of licenses 0 0 0 3
(Gain) loss on asset disposals, net 1 1 14 9
(Gain) loss on sale of business and other exit costs, net 0 0 0 (1)
Total operating expenses 906 1,098 2,789 3,024
Operating income (loss) 57 (15) 117 96
Investment and other income (expense)        
Equity in earnings of unconsolidated entities 40 40 121 122
Interest and dividend income 3 2 8 5
Interest expense (50) (42) (147) (115)
Total investment and other income (expense) (7) 0 (18) 12
Income (loss) before income taxes 50 (15) 99 108
Income tax expense (benefit) 27 (3) 56 46
Net income (loss) 23 (12) 43 62
Less: Net income attributable to noncontrolling interests, net of tax 0 0 3 4
Net income (loss) attributable to UScellular shareholders $ 23 $ (12) $ 40 $ 58
Basic weighted average shares outstanding (in shares) 85 85 85 86
Basic earnings (loss) per share attributable to UScellular shareholders $ 0.26 $ (0.15) $ 0.47 $ 0.68
Diluted weighted average shares outstanding (in shares) 86 85 86 87
Diluted earnings (loss) per share attributable to UScellular shareholders $ 0.26 $ (0.15) $ 0.47 $ 0.67
Service        
Operating revenues        
Total operating revenues $ 762 $ 781 $ 2,289 $ 2,351
Operating expenses        
Cost of goods and services 185 197 557 574
Equipment sales        
Operating revenues        
Total operating revenues 201 302 617 769
Operating expenses        
Cost of goods and services $ 228 $ 354 $ 708 $ 887