ARRAY DIGITAL INFRASTRUCTURE, INC.
For the period ended Mar 31, 2025. Filed May 2, 2025.
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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.
Mar 31, 2025 · Filed May 2, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheet
Consolidated Balance Sheet — Assets
| March 31, 2025 | December 31, 2024 | |
|---|---|---|
| (Dollars in millions) | ||
| Current assets | ||
| Cash and cash equivalents | $182 | $144 |
| Accounts receivable | ||
| Customers and agents, less allowances of $58 and $63, respectively | 863 | 905 |
| Affiliated | 7 | 1 |
| Other, less allowances of $2 and $2, respectively | 55 | 49 |
| Inventory, net | 178 | 179 |
| Prepaid expenses | 63 | 46 |
| Other current assets | 25 | 21 |
| Total current assets | 1,373 | 1,345 |
| Assets held for sale | 1 | — |
| Licenses | 4,581 | 4,579 |
| Investments in unconsolidated entities | 479 | 454 |
| Property, plant and equipment | ||
| In service and under construction | 8,417 | 8,387 |
| Less: Accumulated depreciation and amortization | 6,023 | 5,885 |
| Property, plant and equipment, net | 2,394 | 2,502 |
| Operating lease right-of-use assets | 925 | 926 |
| Other assets and deferred charges | 612 | 643 |
| Total assets1 | $10,365 | $10,449 |
Consolidated Balance Sheet — Liabilities and Equity
| March 31, 2025 | December 31, 2024 | |
|---|---|---|
| (Dollars and shares in millions, except per share amounts) | ||
| Current liabilities | ||
| Current portion of long-term debt | $26 | $22 |
| Accounts payable | ||
| Affiliated | 9 | 10 |
| Trade | 198 | 232 |
| Customer deposits and deferred revenues | 231 | 238 |
| Accrued taxes | 57 | 30 |
| Accrued compensation | 33 | 93 |
| Short-term operating lease liabilities | 140 | 141 |
| Other current liabilities | 113 | 118 |
| Total current liabilities | 807 | 884 |
| Deferred liabilities and credits | ||
| Deferred income tax liability, net | 720 | 728 |
| Long-term operating lease liabilities | 824 | 822 |
| Other deferred liabilities and credits | 570 | 570 |
| Long-term debt, net | 2,829 | 2,837 |
| Commitments and contingencies | ||
| Noncontrolling interests with redemption features | 16 | 16 |
| 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 | 1,800 | 1,783 |
| Treasury shares, at cost, 3 Common Shares | (125) | (112) |
| Retained earnings | 2,822 | 2,818 |
| Total UScellular shareholders' equity | 4,585 | 4,577 |
| Noncontrolling interests | 14 | 15 |
| Total equity | 4,599 | 4,592 |
| Total liabilities and equity1 | $10,365 | $10,449 |
1 The consolidated total assets as of March 31, 2025 and December 31, 2024, include assets held by consolidated variable interest entities (VIEs) of $1,050 million and $1,011 million, respectively, which are not available to be used to settle the obligations of UScellular. The consolidated total liabilities as of March 31, 2025 and December 31, 2024, include certain liabilities of consolidated VIEs of $26 million and $27 million, respectively, for which the creditors of the VIEs have no recourse to the general credit of UScellular. See Note 9 — Variable Interest Entities for additional information.
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