Company: UZF
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0000821130-25-000032
Chunk: 83

Company: ARRAY DIGITAL INFRASTRUCTURE, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 1A
Chunk 83
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2025. If the T-Mobile transaction is consummated, UScellular expects to repay outstanding borrowings under certain long-term debt obligations.

2Represents the weighted average stated interest rates at March 31, 2025, for debt maturing in the respective periods.

See Note 3 — Fair Value Measurements in the Notes to Consolidated Financial Statements for additional information related to the fair value of UScellular’s Long-term debt as of March 31, 2025. 

26

Financial Statements

United States Cellular Corporation

Consolidated Statement of Operations

(Unaudited)

Three Months EndedMarch 31,20252024(Dollars and shares in millions, except per share amounts)Operating revenuesService$741 $754 Equipment sales150 196 Total operating revenues891 950 Operating expensesSystem operations (excluding Depreciation, amortization and accretion reported below)176 182 Cost of equipment sold178 216 Selling, general and administrative332 331 Depreciation, amortization and accretion163 165 (Gain) loss on asset disposals, net2 6 (Gain) loss on license sales and exchanges, net(1)(1)Total operating expenses850 899 Operating income41 51 Other income (expense)Equity in earnings of unconsolidated entities36 42 Interest and dividend income3 2 Interest expense(40)(43)Total other income (expense)(1)1 Income before income taxes40 52 Income tax expense20 28 Net income20 24 Less: Net income attributable to noncontrolling interests, net of tax2 6 Net income attributable to UScellular shareholders$18 $18 Basic weighted average shares outstanding85 85 Basic earnings per share attributable to UScellular shareholders$0.21 $0.21 Diluted weighted average shares outstanding88 88 Diluted earnings per share attributable to UScellular shareholders$0.21 $0.20 

The accompanying notes are an integral part of these consolidated financial statements.

27

United States Cellular Corporation

Consolidated Statement of Cash Flows

(Unaudited)

Three Months EndedMarch 31,20252024(Dollars in millions)Cash flows from operating activitiesNet income$20 $24 Add (deduct) adjustments to reconcile net income to net cash flows from operating activitiesDepreciation, amortization and accretion