v3.23.2
Consolidated Balance Sheet - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 186 $ 273
Accounts receivable    
Customers and agents, less allowances of $66 and $70, respectively 917 985
Roaming 2 4
Other, less allowances of $3 and $2, respectively 65 83
Inventory, net 210 261
Prepaid expenses 69 68
Income taxes receivable 4 4
Other current assets 47 45
Total current assets 1,500 1,723
Assets held for sale 16 26
Licenses 4,694 4,690
Investments in unconsolidated entities 457 452
Property, plant and equipment    
In service and under construction 9,491 9,334
Less: Accumulated depreciation and amortization 6,851 6,710
Property, plant and equipment, net 2,640 2,624
Operating lease right-of-use assets 912 918
Other assets and deferred charges 670 686
Total assets [1] 10,889 11,119
Current liabilities    
Current portion of long-term debt 54 13
Accounts payable    
Trade 240 344
Customer deposits and deferred revenues 231 239
Accrued taxes 32 35
Accrued compensation 54 84
Short-term operating lease liabilities 134 133
Other current liabilities 254 335
Total current liabilities 1,008 1,195
Deferred liabilities and credits    
Deferred income tax liability, net 732 708
Long-term operating lease liabilities 836 843
Other deferred liabilities and credits 607 604
Long-term debt, net 3,105 3,187
Commitments and contingencies
Noncontrolling interests with redemption features 12 12
UScellular shareholders’ equity    
Series A Common and Common Shares Authorized 190 shares (50 Series A Common and 140 Common Shares) Issued 88 shares (33 Series A Common and 55 Common Shares) Outstanding 85 shares (33 Series A Common and 52 Common Shares) Par Value ($1.00 per share) ($33 Series A Common and $55 Common Shares) 88 88
Additional paid-in capital 1,710 1,703
Treasury shares, at cost, 3 Common Shares (80) (98)
Retained earnings 2,855 2,861
Total UScellular shareholders' equity 4,573 4,554
Noncontrolling interests 16 16
Total equity 4,589 4,570
Total liabilities and equity [1] 10,889 11,119
Affiliated    
Accounts payable $ 9 $ 12
[1] The consolidated total assets as of June 30, 2023 and December 31, 2022, include assets held by consolidated variable interest entities (VIEs) of $1,406 million and $1,265 million, respectively, which are not available to be used to settle the obligations of UScellular. The consolidated total liabilities as of June 30, 2023 and December 31, 2022, include certain liabilities of consolidated VIEs of $25 million for which the creditors of the VIEs have no recourse to the general credit of UScellular. See Note 10 — Variable Interest Entities for additional information.