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Consolidated Statement of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Operating revenues        
Total operating revenues $ 973 $ 973 $ 1,937 $ 1,939
Operating expenses        
Selling, general and administrative 323 344 659 669
Depreciation, amortization and accretion 178 177 354 345
(Gain) loss on asset disposals, net 4 5 8 7
(Gain) loss on sale of business and other exit costs, net 0 0 0 (2)
(Gain) loss on license sales and exchanges, net 0 0 0 (2)
Total operating expenses 920 943 1,833 1,844
Operating income 53 30 104 95
Investment and other income (expense)        
Equity in earnings of unconsolidated entities 44 40 89 84
Interest and dividend income 1 5 5 11
Interest expense (25) (29) (49) (58)
Other, net 0 0 0 (1)
Total investment and other income 20 16 45 36
Income before income taxes 73 46 149 131
Income tax expense 4 14 8 41
Net income 69 32 141 90
Less: Net income attributable to noncontrolling interests, net of tax 1 1 2 4
Net income attributable to U.S. Cellular shareholders $ 68 $ 31 $ 139 $ 86
Basic weighted average shares outstanding (in shares) 86 87 86 87
Basic earnings per share attributable to U.S. Cellular shareholders (USD per share) $ 0.79 $ 0.36 $ 1.62 $ 0.99
Diluted weighted average shares outstanding (in shares) 87 88 87 88
Diluted earnings per share attributable to U.S. Cellular shareholders (USD per share) $ 0.78 $ 0.35 $ 1.59 $ 0.97
Service        
Operating revenues        
Total operating revenues $ 753 $ 757 $ 1,515 $ 1,498
Operating expenses        
Cost of equipment sold 197 193 377 369
Equipment sales        
Operating revenues        
Total operating revenues 220 216 422 441
Operating expenses        
Cost of equipment sold $ 218 $ 224 $ 435 $ 458