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Consolidated Balance Sheet - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 144 $ 150
Accounts receivable    
Customers and agents, less allowances of $63 and $66, respectively 905 900
Other, less allowances of $2 and $4, respectively 49 54
Inventory, net 179 199
Prepaid expenses 46 57
Income taxes receivable 0 1
Other current assets 21 36
Total current assets 1,345 1,400
Assets held for sale 0 15
Licenses 4,579 4,693
Investments in unconsolidated entities 454 461
Property, plant and equipment    
In service and under construction 8,387 9,560
Less: Accumulated depreciation and amortization 5,885 6,984
Property, plant and equipment, net 2,502 2,576
Operating lease right-of-use assets 926 915
Other assets and deferred charges 643 690
Total assets [1] 10,449 10,750
Current liabilities    
Current portion of long-term debt 22 20
Accounts payable    
Trade 232 241
Customer deposits and deferred revenues 238 229
Accrued taxes 30 32
Accrued compensation 93 83
Short-term operating lease liabilities 141 135
Other current liabilities 118 154
Total current liabilities 884 901
Deferred liabilities and credits    
Deferred income tax liability, net 728 755
Long-term operating lease liabilities 822 831
Other deferred liabilities and credits 570 565
Long-term debt, net 2,837 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 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 1,783 1,726
Treasury shares, at cost, 3 Common Shares (112) (80)
Retained earnings 2,818 2,892
Total UScellular shareholders' equity 4,577 4,626
Noncontrolling interests 15 16
Total equity 4,592 4,642
Total liabilities and equity [1] 10,449 10,750
Affiliated    
Accounts receivable    
Affiliated 1 3
Accounts payable    
Affiliated $ 10 $ 7
[1] The consolidated total assets as of December 31, 2024 and 2023, include assets held by consolidated variable interest entities (VIEs) of $1,011 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 December 31, 2024 and 2023, include certain liabilities of consolidated VIEs of $27 million and $26 million, respectively, for which the creditors of the VIEs have no recourse to the general credit of UScellular. See Note 15 — Variable Interest Entities for additional information.