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Consolidated Statement of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Operating revenues        
Total operating revenues $ 1,311 $ 1,263 $ 2,629 $ 2,524
Operating expenses        
Selling, general and administrative 416 398 804 809
Depreciation, amortization and accretion 234 236 457 470
(Gain) loss on asset disposals, net 3 4 8 8
(Gain) loss on sale of business and other exit costs, net 0 0 (1) 0
Total operating expenses 1,253 1,185 2,461 2,373
Operating income 58 78 168 151
Investment and other income (expense)        
Equity in earnings of unconsolidated entities 48 44 90 90
Interest and dividend income 3 2 6 8
Interest expense (86) (38) (138) (75)
Other, net 0 0 (1) (1)
Total investment and other income (expense) (35) 8 (43) 22
Income before income taxes 23 86 125 173
Income tax expense (benefit) (11) 8 20 12
Net income 34 78 105 161
Less: Net income attributable to noncontrolling interests, net of tax 7 13 19 26
Net income attributable to TDS shareholders 27 65 86 135
TDS Preferred Share dividends 7 0 9 0
Net income attributable to TDS common shareholders $ 20 $ 65 $ 77 $ 135
Basic weighted average shares outstanding (in shares) 115 114 115 115
Basic earnings per share attributable to TDS common shareholders (in dollars per share) $ 0.18 $ 0.57 $ 0.67 $ 1.18
Diluted weighted average shares outstanding (in shares) 116 115 116 115
Diluted earnings per share attributable to TDS common shareholders (in dollars per share) $ 0.17 $ 0.56 $ 0.65 $ 1.15
Service        
Operating revenues        
Total operating revenues $ 1,049 $ 1,016 $ 2,091 $ 2,042
Operating expenses        
Cost of goods and services 324 306 623 599
Equipment and product sales        
Operating revenues        
Total operating revenues 262 247 538 482
Operating expenses        
Cost of goods and services $ 276 $ 241 $ 570 $ 487