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Consolidated Balance Sheet - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 153 $ 273
Accounts receivable    
Customers and agents, less allowances of $62 and $70, respectively 890 985
Roaming 2 4
Other, less allowances of $3 and $2, respectively 67 83
Inventory, net 175 261
Prepaid expenses 64 68
Income taxes receivable 2 4
Other current assets 40 45
Total current assets 1,393 1,723
Assets held for sale 16 26
Licenses 4,690 4,690
Investments in unconsolidated entities 477 452
Property, plant and equipment    
In service and under construction 9,571 9,334
Less: Accumulated depreciation and amortization 6,978 6,710
Property, plant and equipment, net 2,593 2,624
Operating lease right-of-use assets 914 918
Other assets and deferred charges 666 686
Total assets [1] 10,749 11,119
Current liabilities    
Current portion of long-term debt 18 13
Accounts payable    
Accounts payable - Trade 406 344
Customer deposits and deferred revenues 222 239
Accrued taxes 35 35
Accrued compensation 61 84
Short-term operating lease liabilities 135 133
Other current liabilities 148 335
Total current liabilities 1,031 1,195
Deferred liabilities and credits    
Deferred income tax liability, net 749 708
Long-term operating lease liabilities 834 843
Other deferred liabilities and credits 601 604
Long-term debt, net 2,903 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 1,717 1,703
Treasury shares, at cost, 3 Common Shares (80) (98)
Retained earnings 2,878 2,861
Total UScellular shareholders' equity 4,603 4,554
Noncontrolling interests 16 16
Total equity 4,619 4,570
Total liabilities and equity [1] 10,749 11,119
Affiliated    
Accounts payable    
Accounts payable - Affiliated $ 6 $ 12
[1] The consolidated total assets as of September 30, 2023 and December 31, 2022, include assets held by consolidated variable interest entities (VIEs) of $1,263 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 September 30, 2023 and December 31, 2022, include certain liabilities of consolidated VIEs of $24 million and $25 million, respectively, for which the creditors of the VIEs have no recourse to the general credit of UScellular. See Note 10 — Variable Interest Entities for additional information.