Investments in Unconsolidated Entities (Tables)

3 Months Ended

Mar. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Equity and measurement alternative method investments

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 carrying value of measurement alternative method investments represents cost minus any impairments plus or minus any observable price changes.

	March 31, 2020		December 31, 2019
(Dollars in millions)
Equity method investments	$	461	$	440
Measurement alternative method investments	8		7
Total investments in unconsolidated entities	$	469	$	447

Equity method investments, summarized results of operations

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

	Three Months Ended March 31,
	2020		2019
(Dollars in millions)
Revenues	$	1,657	$	1,689
Operating expenses	1,162		1,215
Operating income	495		474
Other income (expense), net	3		(5		)
Net income	$	498	$	469