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Consolidated Balance Sheet - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 150 $ 273
Accounts receivable    
Customers and agents, less allowances of $66 and $70, respectively 900 985
Other, less allowances of $4 and $2, respectively 54 87
Inventory, net 199 261
Prepaid expenses 57 68
Income taxes receivable 1 4
Other current assets 36 45
Total current assets 1,400 1,723
Assets held for sale 15 26
Licenses 4,693 4,690
Investments in unconsolidated entities 461 452
Property, plant and equipment    
In service and under construction 9,560 9,334
Less: Accumulated depreciation and amortization 6,984 6,710
Property, plant and equipment, net 2,576 2,624
Operating lease right-of-use assets 915 918
Other assets and deferred charges 690 686
Total assets [1] 10,750 11,119
Current liabilities    
Current portion of long-term debt 20 13
Accounts payable    
Trade 241 344
Customer deposits and deferred revenues 229 239
Accrued taxes 32 35
Accrued compensation 83 84
Short-term operating lease liabilities 135 133
Other current liabilities 154 335
Total current liabilities 901 1,195
Deferred liabilities and credits    
Deferred income tax liability, net 755 708
Long-term operating lease liabilities 831 843
Other deferred liabilities and credits 565 604
Long-term debt, net 3,044 3,187
Commitments and contingencies
Noncontrolling interests with redemption features 12 12
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) Par Value ($1.00 per share) ($33 Series A Common and $55 Common Shares) 88 88
Additional paid-in capital 1,726 1,703
Treasury shares, at cost, 3 Common Shares (80) (98)
Retained earnings 2,892 2,861
Total UScellular shareholders' equity 4,626 4,554
Noncontrolling interests 16 16
Total equity 4,642 4,570
Total liabilities and equity [1] 10,750 11,119
Affiliated    
Accounts receivable    
Affiliated 3 0
Accounts payable    
Affiliated $ 7 $ 12
[1] The consolidated total assets as of December 31, 2023 and 2022, include assets held by consolidated variable interest entities (VIEs) of $1,217 million and $1,265 million, respectively, which are not available to be used to settle the obligations of UScellular. The consolidated total liabilities as of December 31, 2023 and 2022, include certain liabilities of consolidated VIEs of $26 million and $25 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.