Investments in Unconsolidated Entities

6 Months Ended

Jun. 30, 2019

Equity Method Investments and Joint Ventures [Abstract]

Investments in Unconsolidated Entities

Note 7 Investments in Unconsolidated Entities

Investments in unconsolidated entities consist of amounts invested in entities in which U.S. Cellular holds a noncontrolling interest. 

U.S. Cellular’s Investments in unconsolidated entities are accounted for using either the equity method or measurement alternative method as shown in the table below. The measurement alternative method was elected for investments without readily determinable fair values formerly accounted for under the cost method. The carrying value of measurement alternative method investments represents cost minus any impairments plus or minus any observable price changes.

	June 30, 2019		December 31, 2018
(Dollars in millions)
Equity method investments	$	443	$	434
Measurement alternative method investments	7		7
Total investments in unconsolidated entities	$	450	$	441

The following table, which is based in part on information provided by third parties, summarizes the combined results of operations of U.S. Cellular’s equity method investments.

	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019			2018
(Dollars in millions)
Revenues	$	1,654	$	1,655	$	3,343		$	3,312
Operating expenses	1,187		1,199		2,402			2,407
Operating income	467		456		941			905
Other income (expense), net	4		2		(2		)	1
Net income	$	471	$	458	$	939		$	906