TELEPHONE & DATA SYSTEMS INC /DE/
For the period ended Sep 30, 2026. Filed Nov 6, 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.
Sep 30, 2026 · Filed Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheet
Consolidated Balance Sheet — Assets
| September 30, 2026 | December 31, 2025 | |
|---|---|---|
| (Dollars in thousands) | ||
| Current assets | ||
| Cash and cash equivalents | $1,635,402 | $765,952 |
| Accounts receivable | ||
| Customers, less allowances of $3,492 and $3,406, respectively | 64,503 | 68,737 |
| Other, less allowances of $2,974 and $3,203, respectively | 36,930 | 41,244 |
| Inventory, net | 3,187 | 4,062 |
| Prepaid expenses | 35,232 | 28,206 |
| Income taxes receivable | 5,012 | 1,292 |
| Other current assets | 12,967 | 13,976 |
| Total current assets | 1,793,233 | 923,469 |
| Non-current assets held for sale | 57,836 | 1,598,131 |
| Licenses | 1,585,374 | 1,642,972 |
| Goodwill | 6,403 | — |
| Other intangible assets, net of accumulated amortization of $179,056 and $157,208, respectively | 110,231 | 131,673 |
| Investments in unconsolidated entities | 493,930 | 461,922 |
| Property, plant and equipment, net of accumulated depreciation and amortization of $4,292,215 and $4,156,666, respectively | 3,346,706 | 2,965,455 |
| Operating lease right-of-use assets | 497,077 | 515,081 |
| Other assets and deferred charges | 176,512 | 159,600 |
| Total assets1 | $8,067,302 | $8,398,303 |
Consolidated Balance Sheet — Liabilities and Equity
| September 30, 2026 | December 31, 2025 | |
|---|---|---|
| (Dollars and shares in thousands, except per share amounts) | ||
| Current liabilities | ||
| Current portion of long-term debt | $9,269 | $5,274 |
| Accounts payable | 196,646 | 115,822 |
| Customer deposits and deferred revenues | 58,803 | 125,140 |
| Accrued interest | 3,094 | 2,836 |
| Accrued taxes | 26,926 | 46,721 |
| Accrued compensation | 46,657 | 56,774 |
| Short-term operating lease liabilities | 27,404 | 26,180 |
| Current liabilities of discontinued operations | 24,304 | 20,242 |
| Other current liabilities | 54,211 | 41,322 |
| Total current liabilities | 447,314 | 440,311 |
| Deferred liabilities and credits | ||
| Deferred income tax liability, net | 615,486 | 743,633 |
| Long-term operating lease liabilities | 532,555 | 549,617 |
| Other deferred liabilities and credits | 579,376 | 574,025 |
| Long-term debt, net | 668,736 | 823,364 |
| Commitments and contingencies | ||
| Equity | ||
| TDS shareholders’ equity | ||
| Series A Common and Common Shares | ||
| Authorized 290,000 shares (25,000 Series A Common and 265,000 Common Shares) | ||
| Issued 133,240 shares (7,545 Series A Common and 125,695 Common Shares) and 133,236 shares (7,541 Series A Common and 125,695 Common Shares), respectively | ||
| Outstanding 109,239 shares (7,545 Series A Common and 101,694 Common Shares) and 113,783 shares (7,541 Series A Common and 106,242 Common Shares), respectively | ||
| Par Value ($0.01 per share) | 1,332 | 1,332 |
| Capital in excess of par value | 2,492,454 | 2,483,654 |
| Preferred Shares, 279.4 shares authorized, par value $0.01 per share, 44.4 shares (44,400 depositary shares) outstanding (16.8 Series UU (16,800 depositary shares) and 27.6 Series VV (27,600 depositary shares)) | 1,073,963 | 1,073,963 |
| Treasury shares, at cost, 24,001 and 19,453 Common Shares, respectively | (653,684) | (473,072) |
| Accumulated other comprehensive income | 20,273 | 21,506 |
| Retained earnings | 2,045,419 | 1,694,224 |
| Total TDS shareholders' equity | 4,979,757 | 4,801,607 |
| Noncontrolling interests | 244,078 | 465,746 |
| Total equity | 5,223,835 | 5,267,353 |
| Total liabilities and equity1 | $8,067,302 | $8,398,303 |
1 The consolidated total assets as of September 30, 2026 and December 31, 2025, include assets held by current consolidated variable interest entities (VIEs) of $33.3 million and $35.5 million, respectively, which are not available to be used to settle the obligations of TDS. The consolidated total liabilities for both September 30, 2026 and December 31, 2025, include certain liabilities of current consolidated VIEs of $9.6 million, for which the creditors of the VIEs have no recourse to the general credit of TDS. See Note 11 — Variable Interest Entities for additional information.
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