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Consolidated Balance Sheet - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 273 $ 156
Accounts receivable    
Customers and agents, less allowances of $70 and $57, respectively 985 976
Roaming 4 7
Other, less allowances of $2 and $2, respectively 83 63
Inventory, net 261 173
Prepaid expenses 68 58
Income taxes receivable 4 123
Other current assets 45 49
Total current assets 1,723 1,605
Assets held for sale 26 18
Licenses 4,690 4,088
Investments in unconsolidated entities 452 439
Property, plant and equipment    
In service and under construction 9,334 9,056
Less: Accumulated depreciation and amortization 6,710 6,450
Property, plant and equipment, net 2,624 2,606
Operating lease right-of-use assets 918 959
Other assets and deferred charges 686 626
Total assets [1] 11,119 10,341
Current liabilities    
Current portion of long-term debt 13 3
Accounts payable    
Affiliated 12 14
Trade 344 346
Customer deposits and deferred revenues 239 191
Accrued taxes 35 33
Accrued compensation 84 83
Short-term operating lease liabilities 133 129
Other current liabilities 335 104
Total current liabilities 1,195 903
Deferred liabilities and credits    
Deferred income tax liability, net 708 674
Long-term operating lease liabilities 843 889
Other deferred liabilities and credits 604 573
Long-term debt, net 3,187 2,728
Commitments and contingencies
Noncontrolling interests with redemption features 12 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 85 shares (33 Series A Common and 52 Common Shares) and 86 shares (33 Series A Common and 53 Common Shares), respectively Par Value ($1.00 per share) ($33 Series A Common and $55 Common Shares) 88 88
Additional paid-in capital 1,703 1,678
Treasury shares, at cost, 3 and 2 Common Shares, respectively (98) (68)
Retained earnings 2,861 2,849
Total UScellular shareholders' equity 4,554 4,547
Noncontrolling interests 16 16
Total equity 4,570 4,563
Total liabilities and equity [1] $ 11,119 $ 10,341
[1] The consolidated total assets as of December 31, 2022 and 2021, include assets held by consolidated variable interest entities (VIEs) of $1,265 million and $1,482 million, respectively, which are not available to be used to settle the obligations of UScellular. The consolidated total liabilities as of December 31, 2022 and 2021, include certain liabilities of consolidated VIEs of $25 million and $23 million, respectively, for which the creditors of the VIEs have no recourse to the general credit of UScellular. See Note 14 — Variable Interest Entities for additional information.