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Consolidated Statement of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Operating revenues        
Total operating revenues $ 927 $ 957 $ 1,877 $ 1,942
Operating expenses        
Selling, general and administrative 322 341 653 686
Depreciation, amortization and accretion 165 161 329 330
(Gain) loss on asset disposals, net 5 3 11 13
(Gain) loss on license sales and exchanges, net 8 0 7 0
Total operating expenses 891 923 1,789 1,881
Operating income 36 34 88 61
Investment and other income (expense)        
Equity in earnings of unconsolidated entities 38 38 80 82
Interest and dividend income 3 3 6 5
Interest expense (45) (51) (91) (99)
Total investment and other expense (4) (10) (5) (12)
Income before income taxes 32 24 83 49
Income tax expense 14 19 41 29
Net income 18 5 42 20
Less: Net income attributable to noncontrolling interests, net of tax 1 0 7 2
Net income attributable to UScellular shareholders $ 17 $ 5 $ 35 $ 18
Basic weighted average shares outstanding (in shares) 86 85 86 85
Basic earnings per share attributable to UScellular shareholders $ 0.20 $ 0.05 $ 0.41 $ 0.21
Diluted weighted average shares outstanding (in shares) 88 86 88 86
Diluted earnings per share attributable to UScellular shareholders $ 0.20 $ 0.05 $ 0.40 $ 0.20
Service        
Operating revenues        
Total operating revenues $ 743 $ 760 $ 1,497 $ 1,527
Operating expenses        
Cost of goods and services 180 190 362 372
Equipment sales        
Operating revenues        
Total operating revenues 184 197 380 415
Operating expenses        
Cost of goods and services $ 211 $ 228 $ 427 $ 480