TELEPHONE & DATA SYSTEMS INC /DE/
For the period ended Jun 30, 2026. Filed Aug 7, 2026.
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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, 2026 · Filed Aug 7, 2026
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
| (Mark One) | |
|---|---|
| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended June 30, 2026
OR
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the transition period from to
Commission file number 001-14157
| TELEPHONE AND DATA SYSTEMS, INC. | |
|---|---|
| (Exact name of Registrant as specified in its charter) | |
| Delaware | 36-2669023 |
| (State or other jurisdiction of incorporation or organization) | (IRS Employer Identification No.) |
30 North LaSalle Street, Suite 4000, Chicago, Illinois 60602
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code:(312) 630-1900
| Securities registered pursuant to Section 12(b) of the Act: | ||
|---|---|---|
| Title of each class | Trading Symbol | Name of each exchange on which registered |
| Common Shares, $.01 par value | TDS | New York Stock Exchange |
| Depositary Shares each representing a 1/1000th interest in a share of 6.625% Series UU Cumulative Redeemable Perpetual Preferred Stock, $.01 par value | TDSPrU | New York Stock Exchange |
| Depositary Shares each representing a 1/1000th interest in a share of 6.000% Series VV Cumulative Redeemable Perpetual Preferred Stock, $.01 par value | TDSPrV | New York Stock Exchange |
| Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. | Yes | ☒ | No | ☐ |
|---|---|---|---|---|
| Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). | Yes | ☒ | No | ☐ |
| Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. | ||||
| Large accelerated filer | ☒ | Accelerated filer | ☐ | |
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ | |
| Emerging growth company | ☐ | |||
| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | ☐ | |||
| Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). | Yes | ☐ | No | ☒ |
The number of shares outstanding of each of the issuer's classes of common stock, as of June 30, 2026, is 107.6 million Common Shares, $.01 par value, and 7.5 million Series A Common Shares, $.01 par value.
Quarterly Report on Form 10-Q
For the Period Ended June 30, 2026
| Index | Page No. |
|---|---|
| Management's Discussion and Analysis of Financial Condition and Results of Operations | 1 |
| Executive Overview | 1 |
| Terms Used by TDS | 4 |
| Results of Operations – TDS Consolidated | 5 |
| TDS Telecom Operations | 8 |
| Array Operations | 14 |
| Liquidity and Capital Resources | 19 |
| Consolidated Cash Flow Analysis | 22 |
| Consolidated Balance Sheet Analysis | 23 |
| Supplemental Information Relating to Non-GAAP Financial Measures | 24 |
| Application of Critical Accounting Policies and Estimates | 28 |
| Private Securities Litigation Reform Act of 1995 Safe Harbor Cautionary Statement | 29 |
| Risk Factors | 31 |
| Quantitative and Qualitative Disclosures About Market Risk | 32 |
| Financial Statements (Unaudited) | 33 |
| Consolidated Statement of Operations | 33 |
| Consolidated Statement of Cash Flows | 35 |
| Consolidated Balance Sheet | 37 |
| Consolidated Statement of Changes in Equity | 39 |
| Notes to Consolidated Financial Statements | 43 |
| Controls and Procedures | 56 |
| Legal Proceedings | 57 |
| Unregistered Sales of Equity Securities and Use of Proceeds | 58 |
| Other Information | 59 |
| Exhibits | 60 |
| Form 10-Q Cross Reference Index | 61 |
| Signatures | 62 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.