UNITED STATES CELLULAR CORP
For the period ended Sep 30, 2024. Filed Nov 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 1, 2024
AD$29.98-4.4%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statement of Operations
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| (Dollars and shares in millions, except per share amounts) | ||||
| Operating revenues | ||||
| Service | $747 | $762 | $2,245 | $2,289 |
| Equipment sales | 175 | 201 | 554 | 617 |
| Total operating revenues | 922 | 963 | 2,799 | 2,906 |
| Operating expenses | ||||
| System operations (excluding Depreciation, amortization and accretion reported below) | 180 | 185 | 542 | 557 |
| Cost of equipment sold | 203 | 228 | 630 | 708 |
| Selling, general and administrative | 324 | 333 | 977 | 1,020 |
| Depreciation, amortization and accretion | 167 | 159 | 499 | 490 |
| Loss on impairment of licenses | 136 | — | 136 | — |
| (Gain) loss on asset disposals, net | 4 | 1 | 14 | 14 |
| (Gain) loss on license sales and exchanges, net | (2) | — | 4 | — |
| Total operating expenses | 1,012 | 906 | 2,802 | 2,789 |
| Operating income (loss) | (90) | 57 | (3) | 117 |
| Investment and other income (expense) | ||||
| Equity in earnings of unconsolidated entities | 43 | 40 | 123 | 121 |
| Interest and dividend income | 4 | 3 | 9 | 8 |
| Interest expense | (49) | (50) | (137) | (147) |
| Total investment and other expense | (2) | (7) | (5) | (18) |
| Income (loss) before income taxes | (92) | 50 | (8) | 99 |
| Income tax expense (benefit) | (14) | 27 | 29 | 56 |
| Net income (loss) | (78) | 23 | (37) | 43 |
| Less: Net income attributable to noncontrolling interests, net of tax | 1 | — | 7 | 3 |
| Net income (loss) attributable to UScellular shareholders | $(79) | $23 | $(44) | $40 |
| Basic weighted average shares outstanding | 86 | 85 | 86 | 85 |
| Basic earnings (loss) per share attributable to UScellular shareholders | $(0.92) | $0.26 | $(0.51) | $0.47 |
| Diluted weighted average shares outstanding | 86 | 86 | 86 | 86 |
| Diluted earnings (loss) per share attributable to UScellular shareholders | $(0.92) | $0.26 | $(0.51) | $0.47 |
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