TELEPHONE & DATA SYSTEMS INC /DE/

For the period ended Jun 30, 2025. Filed Aug 11, 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.

Jun 30, 2025 · Filed Aug 11, 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

	June 30, 2025	December 31, 2024
(Dollars in millions)
Current assets
Cash and cash equivalents	$540	$364
Accounts receivable
Customers and agents, less allowances of $58 and $68, respectively	920	962
Other, less allowances of $2 and $2, respectively	86	79
Inventory, net	130	183
Prepaid expenses	76	72
Income taxes receivable	2	2
Other current assets	32	33
Total current assets	1,786	1,695
Licenses	4,592	4,588
Other intangible assets, net of accumulated amortization of $143 and $128, respectively	146	161
Investments in unconsolidated entities	493	500
Property, plant and equipment
In service and under construction	14,468	14,363
Less: Accumulated depreciation and amortization	9,660	9,369
Property, plant and equipment, net	4,808	4,994
Operating lease right-of-use assets	975	982
Other assets and deferred charges	726	762
Total assets1	$13,526	$13,682

Consolidated Balance Sheet — Liabilities and Equity

	June 30, 2025	December 31, 2024
(Dollars and shares in millions, except per share amounts)
Current liabilities
Current portion of long-term debt	$37	$31
Accounts payable	268	280
Customer deposits and deferred revenues	270	283
Accrued interest	15	16
Accrued taxes	39	39
Accrued compensation	97	150
Short-term operating lease liabilities	148	153
Other current liabilities	127	138
Total current liabilities	1,001	1,090
Deferred liabilities and credits
Deferred income tax liability, net	982	981
Long-term operating lease liabilities	867	867
Other deferred liabilities and credits	815	809
Long-term debt, net	4,030	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 115 shares (7 Series A Common and 108 Common Shares) and 114 shares (7 Series A Common and 107 Common Shares), respectively
Par Value ($0.01 per share)	1	1
Capital in excess of par value	2,535	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	(389)	(425)
Accumulated other comprehensive income	18	18
Retained earnings	1,765	1,849
Total TDS shareholders' equity	5,004	5,091
Noncontrolling interests	811	777
Total equity	5,815	5,868
Total liabilities and equity1	$13,526	$13,682

1 The consolidated total assets as of June 30, 2025 and December 31, 2024, include assets held by consolidated variable interest entities (VIEs) of $850 million and $983 million, respectively, which are not available to be used to settle the obligations of TDS. The consolidated total liabilities as of June 30, 2025 and December 31, 2024, include certain liabilities of consolidated VIEs of $24 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.