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Consolidated Balance Sheet - USD ($)
shares in Millions, $ in Millions
Jun. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 195 $ 150
Accounts receivable    
Customers and agents, less allowances of $61 and $66, respectively 891 900
Other, less allowances of $2 and $4, respectively 61 54
Inventory, net 143 199
Prepaid expenses 58 57
Income taxes receivable 0 1
Other current assets 26 36
Total current assets 1,374 1,400
Assets held for sale 0 15
Licenses 4,715 4,693
Investments in unconsolidated entities 461 461
Property, plant and equipment    
In service and under construction 8,294 9,560
Less: Accumulated depreciation and amortization 5,754 6,984
Property, plant and equipment, net 2,540 2,576
Operating lease right-of-use assets 906 915
Other assets and deferred charges 643 690
Total assets [1] 10,639 10,750
Current liabilities    
Current portion of long-term debt 20 20
Accounts payable    
Accounts payable - Trade 261 241
Customer deposits and deferred revenues 236 229
Accrued taxes 41 32
Accrued compensation 57 83
Short-term operating lease liabilities 134 135
Other current liabilities 130 154
Total current liabilities 886 901
Deferred liabilities and credits    
Deferred income tax liability, net 765 755
Long-term operating lease liabilities 822 831
Other deferred liabilities and credits 573 565
Long-term debt, net 2,887 3,044
Commitments and contingencies
Noncontrolling interests with redemption features 16 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 86 shares (33 Series A Common and 53 Common Shares) and 85 shares (33 Series A Common and 52 Common Shares), respectively Par Value ($1.00 per share) ($33 Series A Common and $55 Common Shares) 88 88
Additional paid-in capital 1,752 1,726
Treasury shares, at cost, 2 and 3 Common Shares, respectively (58) (80)
Retained earnings 2,893 2,892
Total UScellular shareholders' equity 4,675 4,626
Noncontrolling interests 15 16
Total equity 4,690 4,642
Total liabilities and equity [1] $ 10,639 $ 10,750
Common Stock, Shares, Outstanding 86 85
Common Class B [Member]    
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 86 shares (33 Series A Common and 53 Common Shares) and 85 shares (33 Series A Common and 52 Common Shares), respectively Par Value ($1.00 per share) ($33 Series A Common and $55 Common Shares) $ 55 $ 55
Treasury shares 2 3
Common Stock, Shares, Outstanding 53 52
Common Class A [Member]    
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 86 shares (33 Series A Common and 53 Common Shares) and 85 shares (33 Series A Common and 52 Common Shares), respectively Par Value ($1.00 per share) ($33 Series A Common and $55 Common Shares) $ 33 $ 33
Common Stock, Shares, Outstanding 33 33
Affiliated    
Accounts receivable    
Affiliated $ 0 $ 3
Accounts payable    
Accounts payable - Affiliated $ 7 $ 7
[1] The consolidated total assets as of June 30, 2024 and December 31, 2023, include assets held by consolidated variable interest entities (VIEs) of $1,086 million and $1,217 million, respectively, which are not available to be used to settle the obligations of UScellular. The consolidated total liabilities as of June 30, 2024 and December 31, 2023, include certain liabilities of consolidated VIEs of $26 million, 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.