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Consolidated Statement of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Operating revenues        
Total operating revenues $ 973 $ 974 $ 1,939 $ 1,915
Operating expenses        
Selling, general and administrative (including charges from affiliates of $20 million and $21 million, respectively, for the three months, and $39 million, and $40 million, respectively, for the six months) 344 342 669 668
Depreciation, amortization and accretion 177 159 345 317
(Gain) loss on asset disposals, net 5 1 7 2
(Gain) loss on sale of business and other exit costs, net 0 0 (2) 0
(Gain) loss on license sales and exchanges, net 0 (11) (2) (17)
Total operating expenses 943 918 1,844 1,794
Operating income 30 56 95 121
Investment and other income (expense)        
Equity in earnings of unconsolidated entities 40 40 84 78
Interest and dividend income 5 3 11 7
Interest expense (29) (29) (58) (58)
Other, net 0 0 (1) (1)
Total investment and other income 16 14 36 26
Income before income taxes 46 70 131 147
Income tax expense 14 18 41 40
Net income 32 52 90 107
Less: Net income attributable to noncontrolling interests, net of tax 1 3 4 14
Net income attributable to U.S. Cellular shareholders $ 31 $ 49 $ 86 $ 93
Basic weighted average shares outstanding (in shares) 87 86 87 85
Basic earnings per share attributable to U.S. Cellular shareholders (USD per share) $ 0.36 $ 0.57 $ 0.99 $ 1.09
Diluted weighted average shares outstanding (in shares) 88 86 88 86
Diluted earnings per share attributable to U.S. Cellular shareholders (USD per share) $ 0.35 $ 0.56 $ 0.97 $ 1.08
Service        
Operating revenues        
Total operating revenues $ 757 $ 741 $ 1,498 $ 1,465
Operating expenses        
Cost of equipment sold 193 187 369 365
Equipment sales        
Operating revenues        
Total operating revenues 216 233 441 450
Operating expenses        
Cost of equipment sold $ 224 $ 240 $ 458 $ 459