Company: UZF
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000821130-25-000023
Chunk: 71

Company: ARRAY DIGITAL INFRASTRUCTURE, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 71
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 services in the United States.

▪VoLTE – Voice over Long-Term Evolution is a technology specification that defines the standards and procedures for delivering voice communications and related services over 4G LTE networks.

27

Index to MD&A

Financial Overview — UScellular

The following discussion and analysis compares financial results for the year ended December 31, 2024, to the year ended December 31, 2023 and the year ended December 31, 2023, to the year ended December 31, 2022.

Year Ended December 31,2024202320222024 vs. 20232023 vs. 2022(Dollars in millions)   Operating RevenuesWireless$3,667 $3,805 $4,076 (4)%(7)%Towers234 228 216 3 %5 %Intra-company eliminations(131)(127)(123)(3)%(3)%Total operating revenues3,770 3,906 4,169 (3)%(6)%Operating expensesWireless3,757 3,743 4,075 —(8)%Towers156 151 148 3 %2 %Intra-company eliminations(131)(127)(123)(3)%(3)%Total operating expenses3,782 3,767 4,100 —(8)%Operating income (loss)(12)139 69 N/MN/MInvestment and other income (expense)Equity in earnings of unconsolidated entities161 158 158 2 %—Interest and dividend income12 10 8 19 %26 %Interest expense(183)(196)(163)7 %(21)%Total investment and other income (expense)(10)(28)3 63 %N/MIncome (loss) before income taxes(22)111 72 N/M54 %Income tax expense10 53 37 (82)%43 %Net income (loss)(32)58 35 N/M67 %Less: Net income attributable to noncontrolling interests, net of tax7 4 5 N/M(24)%Net income (loss) attributable to UScellular shareholders$(39)$54 $30 N/M80 %Adjusted OIBDA (Non-GAAP)1$845 $818 $790 3 %4 %Adjusted EBITDA (Non-G