Company: UZF
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0000821130-25-000032
Chunk: 92

Company: ARRAY DIGITAL INFRASTRUCTURE, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 1A
Chunk 92
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Bad debts expense15 22 Write-offs, net of recoveries(19)(24)Allowance for credit losses, end of period$78 $88 

Note 5 Earnings Per Share Basic earnings per share attributable to UScellular shareholders is computed by dividing Net income attributable to UScellular shareholders by the weighted average number of Common Shares outstanding during the period. Diluted earnings per share attributable to UScellular shareholders is computed by dividing Net income attributable to UScellular shareholders by the weighted average number of Common Shares outstanding during the period adjusted to include the effects of potentially dilutive securities. Potentially dilutive securities primarily include incremental shares issuable upon the exercise of outstanding stock options and the vesting of performance and restricted stock units, as calculated using the treasury stock method.

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The amounts used in computing basic and diluted earnings per share attributable to UScellular shareholders were as follows:Three Months EndedMarch 31,20252024(Dollars and shares in millions, except per share amounts)Net income attributable to UScellular shareholders$18 $18 Weighted average number of shares used in basic earnings per share85 85 Effects of dilutive securities3 3 Weighted average number of shares used in diluted earnings per share88 88 Basic earnings per share attributable to UScellular shareholders$0.21 $0.21 Diluted earnings per share attributable to UScellular shareholders$0.21 $0.20 Certain Common Shares issuable upon the exercise of stock options or vesting of performance and restricted stock units were not included in weighted average diluted shares outstanding for the calculation of Diluted earnings per share attributable to UScellular shareholders because their effects were antidilutive. The number of such Common Shares excluded was less than 1 million for both the three months ended March 31, 2025 and 2024.

Note 6 DivestituresOn August 4, 2023, TDS and UScellular announced that the Boards of Directors of both companies decided to initiate a process to explore a range of strategic alternatives for UScellular. On May 28, 2024, UScellular announced that its Board of Directors unanimously approved the execution of a Securities Purchase Agreement (Securities Purchase Agreement) by and among TDS, UScellular, T-Mobile US, Inc. (T-Mobile) and USCC Wireless Holdings, LLC, pursuant to which, among other things, UScellular has agreed to