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Consolidated Statement of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating revenues    
Total operating revenues $ 1,318 $ 1,261
Operating expenses    
Selling, general and administrative 388 411
Depreciation, amortization and accretion 224 235
(Gain) loss on asset disposals, net 5 4
(Gain) loss on sale of business and other exit costs, net (1) 0
Total operating expenses 1,208 1,189
Operating income 110 72
Investment and other income (expense)    
Equity in earnings of unconsolidated entities 42 45
Interest and dividend income 3 6
Interest expense (53) (37)
Total investment and other income (expense) (8) 14
Income before income taxes 102 86
Income tax expense 31 3
Net income 71 83
Less: Net income attributable to noncontrolling interests, net of tax 12 14
Net income attributable to TDS shareholders 59 69
TDS Preferred dividend requirement 2 0
Net income attributable to TDS common shareholders $ 57 $ 69
Basic weighted average shares outstanding (in shares) 114 115
Basic earnings per share attributable to TDS common shareholders (in dollars per share) $ 0.49 $ 0.60
Diluted weighted average shares outstanding (in shares) 116 116
Diluted earnings per share attributable to TDS common shareholders (in dollars per share) $ 0.48 $ 0.59
Service    
Operating revenues    
Total operating revenues $ 1,042 $ 1,026
Operating expenses    
Cost of goods and services 299 293
Equipment and product sales    
Operating revenues    
Total operating revenues 276 235
Operating expenses    
Cost of goods and services $ 293 $ 246