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Consolidated Statement of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Operating revenues        
Total operating revenues $ 1,027 $ 1,031 $ 2,964 $ 2,970
Operating expenses        
Selling, general and administrative 335 358 994 1,027
Depreciation, amortization and accretion 161 181 516 524
(Gain) loss on asset disposals, net 6 5 14 13
(Gain) loss on sale of business and other exit costs, net 0 0 0 (1)
(Gain) loss on license sales and exchanges, net 0 2 0 0
Total operating expenses 962 1,011 2,796 2,855
Operating income 65 20 168 115
Investment and other income (expense)        
Equity in earnings of unconsolidated entities 48 44 137 128
Interest and dividend income 2 4 6 14
Gain (loss) on investments 3 0 3 0
Interest expense (29) (29) (76) (87)
Total investment and other income 24 19 70 55
Income before income taxes 89 39 238 170
Income tax expense 4 15 11 55
Net income 85 24 227 115
Less: Net income attributable to noncontrolling interests, net of tax 0 1 3 6
Net income attributable to UScellular shareholders $ 85 $ 23 $ 224 $ 109
Basic weighted average shares outstanding (in shares) 86 86 86 87
Basic earnings per share attributable to UScellular shareholders (USD per share) $ 0.98 $ 0.27 $ 2.60 $ 1.26
Diluted weighted average shares outstanding (in shares) 88 88 87 88
Diluted earnings per share attributable to UScellular shareholders (in shares) $ 0.97 $ 0.27 $ 2.56 $ 1.24
Service        
Operating revenues        
Total operating revenues $ 775 $ 774 $ 2,290 $ 2,272
Operating expenses        
Cost of equipment sold 203 199 580 568
Equipment sales        
Operating revenues        
Total operating revenues 252 257 674 698
Operating expenses        
Cost of equipment sold $ 257 $ 266 $ 692 $ 724