Investments in Unconsolidated Entities

3 Months Ended

Mar. 31, 2021

Equity Method Investments and Joint Ventures [Abstract]

Investments in Unconsolidated Entities

Note 8 Investments in Unconsolidated Entities

Investments in unconsolidated entities consist of amounts invested in entities in which UScellular holds a noncontrolling interest. UScellular’s Investments in unconsolidated entities are accounted for using either the equity method or measurement alternative method as shown in the table below. The carrying value of measurement alternative method investments represents cost minus any impairments plus or minus any observable price changes.

	March 31, 2021		December 31, 2020
(Dollars in millions)
Equity method investments	$	447	$	428
Measurement alternative method investments	8		7
Total investments in unconsolidated entities	$	455	$	435

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

	Three Months Ended March 31,
	2021		2020
(Dollars in millions)
Revenues	$	1,727	$	1,657
Operating expenses	1,275		1,162
Operating income	452		495
Other income (expense), net	12		3
Net income	$	464	$	498