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
TDS$32.77-3.2%Stored close · as of Nov 10, 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 (loss) | $(487) | $72 | $188 |
| Add (deduct) adjustments to reconcile net income (loss) to net cash flows from operating activities | |||
| Depreciation, amortization and accretion | 915 | 929 | 895 |
| Bad debts expense | 111 | 138 | 60 |
| Stock-based compensation expense | 41 | 42 | 49 |
| Deferred income taxes, net | 8 | 47 | 52 |
| Equity in earnings of unconsolidated entities | (159) | (159) | (182) |
| Distributions from unconsolidated entities | 150 | 145 | 180 |
| Loss on impairment of intangible assets | 547 | 3 | — |
| (Gain) loss on asset disposals, net | 27 | 27 | 26 |
| (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 | 8 | 10 | 61 |
| Changes in assets and liabilities from operations | |||
| Accounts receivable | 2 | (69) | (22) |
| Equipment installment plans receivable | (20) | (199) | (116) |
| Inventory | 61 | (90) | (25) |
| Accounts payable | (99) | 32 | (69) |
| Customer deposits and deferred revenues | (8) | 48 | 43 |
| Accrued taxes | 50 | 127 | (49) |
| Other assets and liabilities | (3) | 53 | 14 |
| Net cash provided by operating activities | 1,142 | 1,155 | 1,103 |
| Cash flows from investing activities | |||
| Cash paid for additions to property, plant and equipment | (1,211) | (1,161) | (1,131) |
| Cash paid for licenses and other intangible assets | (130) | (614) | (1,308) |
| Advance payments for license acquisitions | — | — | (20) |
| Other investing activities | 14 | (8) | (3) |
| Net cash used in investing activities | (1,327) | (1,783) | (2,462) |
| Cash flows from financing activities | |||
| Issuance of long-term debt | 1,081 | 1,154 | 1,543 |
| Repayment of long-term debt | (723) | (332) | (2,081) |
| Issuance of short-term debt | — | 110 | — |
| Repayment of short-term debt | (60) | (50) | — |
| Issuance of TDS Preferred Shares | — | — | 1,110 |
| TDS Common Shares reissued for benefit plans, net of tax payments | (3) | (4) | (5) |
| UScellular Common Shares reissued for benefit plans, net of tax payments | (6) | (5) | (16) |
| Repurchase of TDS Common Shares | (6) | (40) | (8) |
| Repurchase of UScellular Common Shares | — | (43) | (31) |
| Dividends paid to TDS shareholders | (153) | (151) | (119) |
| Payment of debt and equity issuance costs | (5) | (2) | (62) |
| Distributions to noncontrolling interests | (3) | (3) | (3) |
| Cash paid for software license agreements | (66) | (23) | (9) |
| Other financing activities | — | 2 | 2 |
| Net cash provided by financing activities | 56 | 613 | 321 |
| Net decrease in cash, cash equivalents and restricted cash | (129) | (15) | (1,038) |
| Cash, cash equivalents and restricted cash | |||
| Beginning of period | 399 | 414 | 1,452 |
| End of period | $270 | $399 | $414 |
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