Investments in Unconsolidated Entities (Tables)

12 Months Ended

Dec. 31, 2022

Equity Method Investments and Joint Ventures [Abstract]

Investments in Unconsolidated Entities

UScellular's Investments in unconsolidated entities are accounted for using the equity method, measurement alternative method or net asset value practical expedient 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.

December 31,	2022		2021
(Dollars in millions)
Equity method investments:
Capital contributions, loans, advances and adjustments	$	104	$	104
Cumulative share of income	2,570		2,417
Cumulative share of distributions	(2,235)		(2,090)
Total equity method investments	439		431
Measurement alternative method investments	4		8
Investments recorded using the net asset value practical expedient	9		—
Total investments in unconsolidated entities	$	452	$	439

The following tables, which are based on unaudited information provided in part by third parties, summarize the combined assets, liabilities and equity, and results of operations of UScellular’s equity method investments:

December 31,	2022		2021
(Dollars in millions)
Assets
Current	$	1,071	$	1,223
Noncurrent	6,431		6,129
Total assets	$	7,502	$	7,352
Liabilities and Equity
Current liabilities	$	764	$	707
Noncurrent liabilities	1,241		1,249
Partners’ capital and shareholders’ equity	5,497		5,396
Total liabilities and equity	$	7,502	$	7,352

Year Ended December 31,	2022		2021		2020
(Dollars in millions)
Results of Operations
Revenues	$	7,275	$	7,100	$	6,677
Operating expenses	5,662		5,130		4,733
Operating income	1,613		1,970		1,944
Other income (expense), net	(16)		15		16
Net income	$	1,597	$	1,985	$	1,960