UNITED STATES CELLULAR CORP
For the period ended Dec 31, 2024. Filed Feb 21, 2025.
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FY2024 · Filed Feb 21, 2025
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Consolidated Balance Sheet – Liabilities and Equity
| December 31, | 2024 | 2023 |
|---|---|---|
| (Dollars and shares in millions, except per share amounts) | ||
| Current liabilities | ||
| Current portion of long-term debt | $22 | $20 |
| Accounts payable | ||
| Affiliated | 10 | 7 |
| Trade | 232 | 241 |
| Customer deposits and deferred revenues | 238 | 229 |
| Accrued taxes | 30 | 32 |
| Accrued compensation | 93 | 83 |
| Short-term operating lease liabilities | 141 | 135 |
| Other current liabilities | 118 | 154 |
| Total current liabilities | 884 | 901 |
| Deferred liabilities and credits | ||
| Deferred income tax liability, net | 728 | 755 |
| Long-term operating lease liabilities | 822 | 831 |
| Other deferred liabilities and credits | 570 | 565 |
| Long-term debt, net | 2,837 | 3,044 |
| Commitments and contingencies | ||
| Noncontrolling interests with redemption features | 16 | 12 |
| Equity | ||
| 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 | 1,783 | 1,726 |
| Treasury shares, at cost, 3 Common Shares | (112) | (80) |
| Retained earnings | 2,818 | 2,892 |
| Total UScellular shareholders' equity | 4,577 | 4,626 |
| Noncontrolling interests | 15 | 16 |
| Total equity | 4,592 | 4,642 |
| Total liabilities and equity1 | $10,449 | $10,750 |
1 The consolidated total assets as of December 31, 2024 and 2023, include assets held by consolidated variable interest entities (VIEs) of $1,011 million and $1,217 million, respectively, which are not available to be used to settle the obligations of UScellular. The consolidated total liabilities as of December 31, 2024 and 2023, include certain liabilities of consolidated VIEs of $27 million and $26 million, respectively, for which the creditors of the VIEs have no recourse to the general credit of UScellular. See Note 15 — Variable Interest Entities for additional information.
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