UNITED STATES CELLULAR CORP
For the period ended Dec 31, 2024. Filed Feb 21, 2025.
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FY2024 · Filed Feb 21, 2025
AD$29.98-4.4%Stored close · as of Nov 6, 2026
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Consolidated Statement of Operations
| Year Ended December 31, | 2024 | 2023 | 2022 |
|---|---|---|---|
| (Dollars and shares in millions, except per share amounts) | |||
| Operating revenues | |||
| Service | $2,987 | $3,044 | $3,125 |
| Equipment sales | 783 | 862 | 1,044 |
| Total operating revenues | 3,770 | 3,906 | 4,169 |
| Operating expenses | |||
| System operations (excluding Depreciation, amortization and accretion reported below) | 724 | 740 | 755 |
| Cost of equipment sold | 906 | 988 | 1,216 |
| Selling, general and administrative | 1,330 | 1,368 | 1,408 |
| Depreciation, amortization and accretion | 665 | 656 | 700 |
| Loss on impairment of licenses | 136 | — | 3 |
| (Gain) loss on asset disposals, net | 18 | 17 | 19 |
| (Gain) loss on sale of business and other exit costs, net | — | — | (1) |
| (Gain) loss on license sales and exchanges, net | 3 | (2) | — |
| Total operating expenses | 3,782 | 3,767 | 4,100 |
| Operating income (loss) | (12) | 139 | 69 |
| Investment and other income (expense) | |||
| Equity in earnings of unconsolidated entities | 161 | 158 | 158 |
| Interest and dividend income | 12 | 10 | 8 |
| Interest expense | (183) | (196) | (163) |
| Total investment and other income (expense) | (10) | (28) | 3 |
| Income (loss) before income taxes | (22) | 111 | 72 |
| Income tax expense | 10 | 53 | 37 |
| Net income (loss) | (32) | 58 | 35 |
| Less: Net income attributable to noncontrolling interests, net of tax | 7 | 4 | 5 |
| Net income (loss) attributable to UScellular shareholders | $(39) | $54 | $30 |
| Basic weighted average shares outstanding | 86 | 85 | 85 |
| Basic earnings (loss) per share attributable to UScellular shareholders | $(0.46) | $0.64 | $0.35 |
| Diluted weighted average shares outstanding | 86 | 87 | 86 |
| Diluted earnings (loss) per share attributable to UScellular shareholders | $(0.46) | $0.63 | $0.35 |
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