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Consolidated Statement of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Operating revenues        
Total operating revenues $ 1,349 $ 1,311 $ 2,664 $ 2,629
Operating expenses        
Selling, general and administrative 427 416 837 804
Depreciation, amortization and accretion 229 234 456 457
Loss on impairment of licenses 3 0 3 0
(Gain) loss on asset disposals, net 7 3 9 8
(Gain) loss on sale of business and other exit costs, net 0 0 0 (1)
Total operating expenses 1,286 1,253 2,506 2,461
Operating income 63 58 158 168
Investment and other income (expense)        
Equity in earnings of unconsolidated entities 38 48 83 90
Interest and dividend income 5 3 7 6
Interest expense (40) (86) (72) (138)
Other, net 0 0 0 (1)
Total investment and other income (expense) 3 (35) 18 (43)
Income before income taxes 66 23 176 125
Income tax expense (benefit) 27 (11) 65 20
Net income 39 34 111 105
Less: Net income attributable to noncontrolling interests, net of tax 4 7 15 19
Net income attributable to TDS shareholders 35 27 96 86
TDS Preferred Share dividends 17 7 35 9
Net income attributable to TDS common shareholders $ 18 $ 20 $ 61 $ 77
Basic weighted average shares outstanding (in shares) 115 115 115 115
Basic earnings per share attributable to TDS common shareholders (in dollars per share) $ 0.15 $ 0.18 $ 0.53 $ 0.67
Diluted weighted average shares outstanding (in shares) 116 116 116 116
Diluted earnings per share attributable to TDS common shareholders (in dollars per share) $ 0.15 $ 0.17 $ 0.52 $ 0.65
Service        
Operating revenues        
Total operating revenues $ 1,064 $ 1,049 $ 2,125 $ 2,091
Operating expenses        
Cost of goods and services 312 324 611 623
Equipment and product sales        
Operating revenues        
Total operating revenues 285 262 539 538
Operating expenses        
Cost of goods and services $ 308 $ 276 $ 590 $ 570