Debt (Tables)

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Revolving credit facilities

The following table summarizes the revolving credit facilities as of December 31, 2017:

	TDS		U.S. Cellular
(Dollars in millions)
Maximum borrowing capacity	$	400	$	300
Letters of credit outstanding	$	1	$	2
Amount borrowed	$	–	$	–
Amount available for use	$	399	$	298

Financial covenants

The revolving credit agreements include the following financial covenants:

• Consolidated Interest Coverage Ratio may not be less than 3.00 to 1.00 as of the end of any fiscal quarter.
• Consolidated Leverage Ratio may not be greater than the ratios indicated as of the end of any fiscal quarter for each period specified below:

Period	Ratios
From the agreement date of June 15, 2016 through June 30, 2019	3.25 to 1.00
From July 1, 2019 and thereafter	3.00 to 1.00

Long-term debt

Long-term debt as of December 31, 2017 and 2016, was as follows:

								December 31, 2017						December 31, 2016
				Issuance date	Maturity date	Call date (any time on or after)		Principal Amount		Less Unamortized discount and debt issuance costs		Total		Principal Amount		Less Unamortized discount and debt issuance costs	Total
(Dollars in millions)
TDS:
		Unsecured Senior Notes
		6.625%		March 2005	March 2045	March 2010	$	116	$	3	$	113	$	116	$	3	$	113
		6.875%		Nov 2010	Nov 2059	Nov 2015		225		7		218		225		7		218
		7.000%		March 2011	March 2060	March 2016		300		9		291		300		10		290
		5.875%		Dec 2012	Dec 2061	Dec 2017		195		7		188		195		7		188
	Purchase contract			Oct 2001	Oct 2021			–		–		–		1		–		1
			Total Parent				$	836	$	26	$	810	$	837	$	27	$	810
Subsidiaries:
	U.S. Cellular
		Unsecured Senior Notes
		6.700%		Dec 2003 and June 2004	Dec 2033	Dec 2003 and June 2004	$	544	$	15	$	529	$	544	$	15	$	529
		6.950%		May 2011	May 2060	May 2016		342		11		331		342		11		331
		7.250%		Dec 2014	Dec 2063	Dec 2019		275		10		265		275		10		265
		7.250%		Nov 2015	Dec 2064	Dec 2020		300		10		290		300		10		290
		Term Loan		Jul 2015	Jan 2022			203		2		201		214		2		212
		Capital lease obligations						4		–		4		2		–		2
		Installment payment agreement						21		1		20		–		–		–
	TDSTelecom
		Rural Utilities Service (RUS) and other notes						–		–		–		1		–		1
		Capital lease obligations						1		–		1		1		–		1
		Installment payment agreement						2		–		2		–		–		–
	Other
		Long-term notes			Through 2021			4		–		4		4		–		4
			Total Subsidiaries					1,696		49		1,647		1,683		48		1,635
Total long-term debt							$	2,532	$	75	$	2,457	$	2,520	$	75	$	2,445
		Long-term debt, current									$	20					$	12
		Long-term debt, noncurrent									$	2,437					$	2,433