Investments in Unconsolidated Entities (Tables)

12 Months Ended

Dec. 31, 2023

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,	2023		2022
(Dollars in millions)
Equity method investments:
Capital contributions, loans, advances and adjustments	$	104	$	104
Cumulative share of income	2,729		2,570
Cumulative share of distributions	(2,385)		(2,235)
Total equity method investments	448		439
Measurement alternative method investments	4		4
Investments recorded using the net asset value practical expedient	9		9
Total investments in unconsolidated entities	$	461	$	452

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,	2023		2022
(Dollars in millions)
Assets
Current	$	1,003	$	1,071
Noncurrent	6,383		6,431
Total assets	$	7,386	$	7,502
Liabilities and Equity
Current liabilities	$	762	$	764
Noncurrent liabilities	1,148		1,241
Partners’ capital and shareholders’ equity	5,476		5,497
Total liabilities and equity	$	7,386	$	7,502

Year Ended December 31,	2023		2022		2021
(Dollars in millions)
Results of Operations
Revenues	$	7,277	$	7,275	$	7,100
Operating expenses	5,683		5,662		5,130
Operating income	1,594		1,613		1,970
Other income (expense), net	(28)		(16)		15
Net income	$	1,566	$	1,597	$	1,985