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Consolidated Statement of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Operating revenues        
Total operating revenues $ 1,324 $ 1,321 $ 3,849 $ 3,840
Operating expenses        
Selling, general and administrative 415 439 1,227 1,260
Depreciation, amortization and accretion 217 237 685 697
(Gain) loss on asset disposals, net 6 6 15 5
(Gain) loss on sale of business and other exit costs, net 0 0 0 (1)
(Gain) loss on license sales and exchanges, net 0 2 0 0
Total operating expenses 1,237 1,292 3,611 3,669
Operating income 87 29 238 171
Investment and other income (expense)        
Equity in earnings of unconsolidated entities 48 44 138 129
Interest and dividend income 4 7 12 24
Gain (loss) on investments 3 0 3 0
Interest expense (43) (42) (119) (128)
Other, net 0 0 (1) 0
Total investment and other income 12 9 33 25
Income before income taxes 99 38 271 196
Income tax expense 6 15 17 64
Net income 93 23 254 132
Less: Net income attributable to noncontrolling interests, net of tax 15 5 42 22
Net income attributable to TDS shareholders $ 78 $ 18 $ 212 $ 110
Basic weighted average shares outstanding (in shares) 114 115 114 114
Basic earnings per share attributable to TDS shareholders (in dollars per share) $ 0.68 $ 0.15 $ 1.85 $ 0.96
Diluted weighted average shares outstanding (in shares) 115 116 115 116
Diluted earnings per share attributable to TDS shareholders (in dollars per share) $ 0.66 $ 0.15 $ 1.81 $ 0.93
Service        
Operating revenues        
Total operating revenues $ 1,046 $ 1,030 $ 3,088 $ 3,038
Operating expenses        
Cost of goods and services 321 313 919 900
Equipment and product sales        
Operating revenues        
Total operating revenues 278 291 761 802
Operating expenses        
Cost of goods and services $ 278 $ 295 $ 765 $ 808