Investments in Unconsolidated Entities (Tables)

9 Months Ended

Sep. 30, 2018

Equity Method Investments and Joint Ventures [Abstract]

Equity and measurement alternative method investments

U.S. Cellular’s Investments in unconsolidated entities are accounted for using either the equity method or measurement alternative method as shown in the table below. The measurement alternative method was elected for investments without readily determinable fair values formerly accounted for under the cost method.  The measurement alternative fair value represents cost minus any impairments plus or minus any observable price changes.  U.S. Cellular did not have an impairment or observable price change related to these investments for the three and nine months ended September 30, 2018.

	September 30, 2018		December 31, 2017
(Dollars in millions)
Equity method investments	$	455	$	411
Measurement alternative method investments	6		4
Total investments in unconsolidated entities	$	461	$	415

Equity method investments, summarized results of operations

The following table, which is based in part on information provided by third parties, summarizes the combined results of operations of U.S. Cellular’s equity method investments.

	Three Months Ended September 30,					Nine Months Ended September 30,
	2018			2017		2018			2017
(Dollars in millions)
Revenues	$	1,693		$	1,590	$	5,005		$	4,830
Operating expenses	1,229			1,180		3,635			3,615
Operating income	464			410		1,370			1,215
Other income (expense), net	(2		)	—		(2		)	(2		)
Net income	$	462		$	410	$	1,368		$	1,213