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Consolidated Statement of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Operating revenues        
Total operating revenues $ 1,263 $ 1,261 $ 2,524 $ 2,518
Operating expenses        
Selling, general and administrative 398 421 809 819
Depreciation, amortization and accretion 236 234 470 460
(Gain) loss on asset disposals, net 4 5 8 0
(Gain) loss on sale of business and other exit costs, net 0 0 0 (2)
(Gain) loss on license sales and exchanges, net 0 0 0 (2)
Total operating expenses 1,185 1,213 2,373 2,376
Operating income 78 48 151 142
Investment and other income (expense)        
Equity in earnings of unconsolidated entities 44 41 90 85
Interest and dividend income 2 9 8 17
Interest expense (38) (43) (75) (86)
Other, net 0 0 (1) 1
Total investment and other income 8 7 22 17
Income before income taxes 86 55 173 159
Income tax expense 8 16 12 50
Net income 78 39 161 109
Less: Net income attributable to noncontrolling interests, net of tax 13 6 26 17
Net income attributable to TDS shareholders $ 65 $ 33 $ 135 $ 92
Basic weighted average shares outstanding (in shares) 114 114 115 114
Basic earnings per share attributable to TDS shareholders (in dollars per share) $ 0.57 $ 0.29 $ 1.18 $ 0.81
Diluted weighted average shares outstanding (in shares) 115 116 115 116
Diluted earnings per share attributable to TDS shareholders (in dollars per share) $ 0.56 $ 0.28 $ 1.15 $ 0.78
Service        
Operating revenues        
Total operating revenues $ 1,016 $ 1,013 $ 2,042 $ 2,008
Operating expenses        
Cost of goods and services 306 304 599 588
Equipment and product sales        
Operating revenues        
Total operating revenues 247 248 482 510
Operating expenses        
Cost of goods and services $ 241 $ 249 $ 487 $ 513