Investments in Unconsolidated Entities

6 Months Ended

Jun. 30, 2020

Equity Method Investments and Joint Ventures [Abstract]

Investments in Unconsolidated Entities

Note 8 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 carrying value of measurement alternative method investments represents cost minus any impairments plus or minus any observable price changes.

	June 30, 2020		December 31, 2019
(Dollars in millions)
Equity method investments	$	437	$	440
Measurement alternative method investments	8		7
Total investments in unconsolidated entities	$	445	$	447

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 June 30,					Six Months Ended June 30,
	2020			2019		2020		2019
(Dollars in millions)
Revenues	$	1,580		$	1,654	$	3,237	$	3,343
Operating expenses	1,093			1,187		2,256		2,402
Operating income	487			467		981		941
Other income (expense), net	(2		)	4		2		(2		)
Net income	$	485		$	471	$	983	$	939