TELEPHONE & DATA SYSTEMS INC /DE/

For the period ended Mar 31, 2025. Filed May 2, 2025.

About this filing

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

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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Contents

Consolidated Balance Sheet

Consolidated Balance Sheet — Assets

	March 31, 2025	December 31, 2024
(Dollars in millions)
Current assets
Cash and cash equivalents	$348	$364
Accounts receivable
Customers and agents, less allowances of $61 and $68, respectively	921	962
Other, less allowances of $2 and $2, respectively	83	79
Inventory, net	182	183
Prepaid expenses	98	72
Income taxes receivable	3	2
Other current assets	38	33
Total current assets	1,673	1,695
Assets held for sale	14	—
Licenses	4,590	4,588
Other intangible assets, net of accumulated amortization of $135 and $128, respectively	154	161
Investments in unconsolidated entities	527	500
Property, plant and equipment
In service and under construction	14,357	14,363
Less: Accumulated depreciation and amortization	9,486	9,369
Property, plant and equipment, net	4,871	4,994
Operating lease right-of-use assets	978	982
Other assets and deferred charges	729	762
Total assets1	$13,536	$13,682

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	$35	$31
Accounts payable	247	280
Customer deposits and deferred revenues	276	283
Accrued interest	25	16
Accrued taxes	41	39
Accrued compensation	62	150
Short-term operating lease liabilities	151	153
Other current liabilities	123	138
Total current liabilities	960	1,090
Liabilities held for sale	5	—
Deferred liabilities and credits
Deferred income tax liability, net	987	981
Long-term operating lease liabilities	867	867
Other deferred liabilities and credits	807	809
Long-term debt, net	4,042	4,051
Commitments and contingencies
Noncontrolling interests with redemption features	16	16
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 114 shares (7 Series A Common and 107 Common Shares)
Par Value ($0.01 per share)	1	1
Capital in excess of par value	2,581	2,574
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, 18 and 19 Common Shares, respectively	(414)	(425)
Accumulated other comprehensive income	18	18
Retained earnings	1,818	1,849
Total TDS shareholders' equity	5,078	5,091
Noncontrolling interests	774	777
Total equity	5,852	5,868
Total liabilities and equity1	$13,536	$13,682

1 The consolidated total assets as of March 31, 2025 and December 31, 2024, include assets held by consolidated variable interest entities (VIEs) of $1,023 million and $983 million, respectively, which are not available to be used to settle the obligations of TDS. The consolidated total liabilities as of March 31, 2025 and December 31, 2024, include certain liabilities of consolidated VIEs of $23 million and $24 million, respectively, for which the creditors of the VIEs have no recourse to the general credit of TDS. See Note 9 — Variable Interest Entities for additional information.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.