UNITED STATES CELLULAR CORP
For the period ended Dec 31, 2023. Filed Feb 16, 2024.
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FY2023 · Filed Feb 16, 2024
AD$30.38+1.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statement of Cash Flows
| Year Ended December 31, | 2023 | 2022 | 2021 |
|---|---|---|---|
| (Dollars in millions) | |||
| Cash flows from operating activities | |||
| Net income | $58 | $35 | $160 |
| Add (deduct) adjustments to reconcile net income to net cash flows from operating activities | |||
| Depreciation, amortization and accretion | 656 | 700 | 678 |
| Bad debts expense | 104 | 132 | 56 |
| Stock-based compensation expense | 23 | 24 | 27 |
| Deferred income taxes, net | 47 | 33 | 41 |
| Equity in earnings of unconsolidated entities | (158) | (158) | (179) |
| Distributions from unconsolidated entities | 150 | 145 | 176 |
| Loss on impairment of licenses | — | 3 | — |
| (Gain) loss on asset disposals, net | 17 | 19 | 23 |
| (Gain) loss on sale of business and other exit costs, net | — | (1) | (2) |
| (Gain) loss on license sales and exchanges, net | (2) | — | — |
| Other operating activities | 6 | 9 | 33 |
| Changes in assets and liabilities from operations | |||
| Accounts receivable | 17 | (59) | (27) |
| Equipment installment plans receivable | (20) | (199) | (116) |
| Inventory | 62 | (88) | (27) |
| Accounts payable | (85) | 12 | (57) |
| Customer deposits and deferred revenues | (9) | 47 | 40 |
| Accrued taxes | — | 121 | (41) |
| Other assets and liabilities | — | 57 | 17 |
| Net cash provided by operating activities | 866 | 832 | 802 |
| Cash flows from investing activities | |||
| Cash paid for additions to property, plant and equipment | (608) | (602) | (724) |
| Cash paid for licenses | (130) | (585) | (1,302) |
| Advance payments for license acquisitions | — | — | (20) |
| Other investing activities | 17 | 8 | 10 |
| Net cash used in investing activities | (721) | (1,179) | (2,036) |
| Cash flows from financing activities | |||
| Issuance of long-term debt | 315 | 800 | 1,342 |
| Repayment of long-term debt | (453) | (329) | (1,118) |
| Issuance of short-term debt | — | 110 | — |
| Repayment of short-term debt | (60) | (50) | — |
| Common Shares reissued for benefit plans, net of tax payments | (6) | (5) | (16) |
| Repurchase of Common Shares | — | (43) | (31) |
| Payment of debt issuance costs | (1) | (1) | (22) |
| Distributions to noncontrolling interests | (3) | (3) | (3) |
| Cash paid for software license agreements | (66) | (22) | (9) |
| Other financing activities | — | (1) | (1) |
| Net cash provided by (used in) financing activities | (274) | 456 | 142 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (129) | 109 | (1,092) |
| Cash, cash equivalents and restricted cash | |||
| Beginning of period | 308 | 199 | 1,291 |
| End of period | $179 | $308 | $199 |
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