TELEPHONE DATA SYSTEMS INC DE
For the period ended Jun 30, 2024. Filed Aug 2, 2024.
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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.
Jun 30, 2024 · Filed Aug 2, 2024
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Consolidated Balance Sheet Analysis
The following discussion addresses certain captions in the consolidated balance sheet and changes therein. This discussion is intended to highlight the significant changes and is not intended to fully reconcile the changes. Notable balance sheet changes during 2024 were as follows:
Inventory, net
Inventory, net decreased $60 million due primarily to the sell through of inventory on hand which was elevated at the end of 2023 to support holiday promotions and ensure adequate device supply.
Assets held for sale
Assets held for sale increased $105 million due primarily to the expected sale of OneNeck IT Solutions LLC and OneNeck Data Center Holdings LLC. See Note 7 — Divestitures in the Notes to Consolidated Financial Statements for additional information.
Accrued compensation
Accrued compensation decreased $55 million due primarily to associate bonus payments in March 2024.
Liabilities held for sale
Liabilities held for sale increased $34 million due primarily to the expected sale of OneNeck IT Solutions LLC and OneNeck Data Center Holdings LLC. See Note 7 — Divestitures in the Notes to Consolidated Financial Statements for additional information.
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