TELEPHONE DATA SYSTEMS INC DE
For the period ended Dec 31, 2023. Filed Feb 16, 2024.
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FY2023 · Filed Feb 16, 2024
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Consolidated Balance Sheet – Liabilities and Equity
| December 31, | 2023 | 2022 |
|---|---|---|
| (Dollars and shares in millions, except per share amounts) | ||
| Current liabilities | ||
| Current portion of long-term debt | $26 | $19 |
| Accounts payable | 360 | 506 |
| Customer deposits and deferred revenues | 277 | 285 |
| Accrued interest | 12 | 12 |
| Accrued taxes | 43 | 46 |
| Accrued compensation | 149 | 144 |
| Short-term operating lease liabilities | 147 | 146 |
| Other current liabilities | 170 | 356 |
| Total current liabilities | 1,184 | 1,514 |
| Deferred liabilities and credits | ||
| Deferred income tax liability, net | 975 | 969 |
| Long-term operating lease liabilities | 890 | 908 |
| Other deferred liabilities and credits | 784 | 813 |
| Long-term debt, net | 4,080 | 3,731 |
| Commitments and contingencies | ||
| Noncontrolling interests with redemption features | 12 | 12 |
| Equity | ||
| TDS shareholders’ equity | ||
| Series A Common and Common Shares | ||
| Authorized 290 shares (25 Series A Common and 265 Common Shares) | ||
| Issued 133 shares (7 Series A Common and 126 Common Shares) | ||
| Outstanding 113 shares (7 Series A Common and 106 Common Shares) and 112 shares (7 Series A Common and 105 Common Shares), respectively | ||
| Par Value ($0.01 per share) | 1 | 1 |
| Capital in excess of par value | 2,558 | 2,551 |
| Preferred Shares, 0.279 shares authorized, par value $0.01 per share, 0.0444 shares outstanding (0.0168 Series UU and 0.0276 Series VV) | 1,074 | 1,074 |
| Treasury shares, at cost, 20 and 21 Common Shares, respectively | (465) | (481) |
| Accumulated other comprehensive income | 11 | 5 |
| Retained earnings | 2,023 | 2,699 |
| Total TDS shareholders’ equity | 5,202 | 5,849 |
| Noncontrolling interests | 794 | 754 |
| Total equity | 5,996 | 6,603 |
| Total liabilities and equity1 | $13,921 | $14,550 |
1 The consolidated total assets as of December 31, 2023 and 2022, include assets held by consolidated variable interest entities (VIEs) of $1,188 million and $1,236 million, respectively, which are not available to be used to settle the obligations of TDS. The consolidated total liabilities as of December 31, 2023 and 2022, include certain liabilities of consolidated VIEs of $23 million for which the creditors of the VIEs have no recourse to the general credit of TDS. See Note 15 — Variable Interest Entities for additional information.
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