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Consolidated Balance Sheet - USD ($)
$ in Millions
Sep. 30, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 931 $ 285
Accounts receivable    
Customers and agents, less allowances of $64 and $70, respectively 862 919
Roaming 19 27
Affiliated 0 1
Other, less allowances of $2 and $1, respectively 64 63
Inventory, net 157 162
Prepaid expenses 54 50
Income taxes receivable 174 46
Other current assets 28 20
Total current assets 2,289 1,573
Assets held for sale 19 0
Licenses 2,628 2,471
Investments in unconsolidated entities 467 447
Property, plant and equipment    
In service and under construction 8,623 8,293
Less: Accumulated depreciation and amortization 6,301 6,086
Property, plant and equipment, net 2,322 2,207
Operating lease right-of-use assets 919 900
Other assets and deferred charges 536 566
Total assets [1] 9,180 8,164
Current liabilities    
Current portion of long-term debt 2 8
Accounts payable    
Affiliated 6 8
Trade 307 296
Customer deposits and deferred revenues 126 148
Accrued taxes 44 30
Accrued compensation 63 76
Short-term operating lease liabilities 113 105
Other current liabilities 69 79
Total current liabilities 730 750
Deferred liabilities and credits    
Deferred income tax liability, net 665 507
Long-term operating lease liabilities 877 865
Other deferred liabilities and credits 364 319
Long-term debt, net 2,108 1,502
Commitments and contingencies
Noncontrolling interests with redemption features 10 11
UScellular shareholders’ equity    
Series A Common and Common Shares Authorized 190 shares (50 Series A Common and 140 Common Shares) Issued 88 shares (33 Series A Common and 55 Common Shares) Outstanding 86 shares (33 Series A Common and 53 Common Shares) Par Value ($1.00 per share) ($33 Series A Common and $55 Common Shares) 88 88
Additional paid-in capital 1,654 1,629
Treasury shares, at cost, 2 Common Shares (67) (70)
Retained earnings 2,736 2,550
Total UScellular shareholders' equity 4,411 4,197
Noncontrolling interests 15 13
Total equity 4,426 4,210
Total liabilities and equity [1] $ 9,180 $ 8,164
[1] The consolidated total assets as of September 30, 2020 and December 31, 2019, include assets held by consolidated variable interest entities (VIEs) of $1,087 million and $930 million, respectively, which are not available to be used to settle the obligations of UScellular. The consolidated total liabilities as of September 30, 2020 and December 31, 2019, include certain liabilities of consolidated VIEs of $20 million and $22 million, respectively, for which the creditors of the VIEs have no recourse to the general credit of UScellular. See Note 10 — Variable Interest Entities for additional information.