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Consolidated Balance Sheet - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents $ 367 $ 1,429
Short-term investments 0 3
Accounts receivable    
Customers and agents, less allowances of $60 and $67, respectively 1,058 1,004
Other, less allowances of $2 and $2, respectively 93 108
Inventory, net 178 154
Prepaid expenses 103 105
Income taxes receivable 184 187
Other current assets 61 36
Total current assets 2,044 3,026
Assets held for sale 18 2
Licenses 4,097 2,638
Goodwill 547 547
Other intangible assets, net of accumulated amortization of $91 and $71, respectively 197 213
Investments in unconsolidated entities 479 477
Property, plant and equipment    
In service and under construction 14,265 13,659
Less: Accumulated depreciation and amortization 9,904 9,687
Property, plant and equipment, net 4,361 3,972
Operating lease right-of-use assets 1,040 998
Other assets and deferred charges 710 652
Total assets [1] 13,493 12,525
Current liabilities    
Current portion of long-term debt 6 5
Accounts payable 481 508
Customer deposits and deferred revenues 236 193
Accrued interest 10 16
Accrued taxes 45 69
Accrued compensation 137 132
Short-term operating lease liabilities 141 129
Other current liabilities 124 101
Total current liabilities 1,180 1,153
Liabilities held for sale 0 1
Deferred liabilities and credits    
Deferred income tax liability, net 921 863
Long-term operating lease liabilities 960 940
Other deferred liabilities and credits 759 541
Long-term debt, net 2,928 3,424
Commitments and contingencies
Noncontrolling interests with redemption features 11 10
TDS shareholders’ equity    
Series A Common and Common Shares Authorized 290 shares (25 Series A Common and 265 Common Shares) Issued 133 shares (7 Series A Common and 126 Common Shares) Outstanding 115 shares (7 Series A Common and 108 Common Shares) and 114 shares (7 Series A Common and 107 Common Shares), respectively Par Value ($0.01 per share) 1 1
Capital in excess of par value 2,496 2,482
Preferred Shares, .279 shares authorized, par value $0.01 per share, .0444 shares outstanding (.0168 Series UU and .0276 Series VV) 1,074 0
Treasury shares, at cost, 18 and 19 Common Shares, respectively (461) (477)
Accumulated other comprehensive income (loss) 5 (4)
Retained earnings 2,812 2,802
Total TDS shareholders’ equity 5,927 4,804
Noncontrolling interests 807 789
Total equity 6,734 5,593
Total liabilities and equity [1] $ 13,493 $ 12,525
[1] The consolidated total assets as of December 31, 2021 and 2020, include assets held by consolidated variable interest entities (VIEs) of $1,456 million and $1,042 million, respectively, which are not available to be used to settle the obligations of TDS. The consolidated total liabilities as of December 31, 2021 and 2020, include certain liabilities of consolidated VIEs of $21 million and $18 million, respectively, for which the creditors of the VIEs have no recourse to the general credit of TDS. See Note 15 — Variable Interest Entities for additional information.