Company: UZF
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0000821130-25-000032
Chunk: 149

Company: ARRAY DIGITAL INFRASTRUCTURE, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 149
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 the UScellular financial statements under the variable interest model.UScellular’s total investment in these unconsolidated entities was $5 million at both March 31, 2025 and December 31, 2024, and is included in Investments in unconsolidated entities in UScellular’s Consolidated Balance Sheet. The maximum exposure from unconsolidated VIEs is limited to the investment held by UScellular in those entities. Other Related MattersUScellular made contributions, loans or advances to its VIEs totaling $36 million and $207 million during the three months ended March 31, 2025 and 2024, respectively, of which $31 million in 2025 and $187 million in 2024, are related to USCC EIP LLC as discussed above. UScellular may agree to make additional capital contributions and/or advances to these or other VIEs and/or to their general partners to provide additional funding for their operations or the development of wireless spectrum licenses granted in various auctions. UScellular may finance such amounts with a combination of cash on hand, borrowings under its revolving credit or receivables securitization agreements and/or other long-term debt. There is no assurance that UScellular will be able to obtain additional financing on commercially reasonable terms or at all to provide such financial support.

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Note 10 Business Segment Information UScellular has the following reportable segments: Wireless and Towers. Wireless generates its revenues by providing wireless services and equipment. Towers generates its revenues by leasing tower space on UScellular-owned towers to other wireless carriers. The Towers segment records rental revenue and the Wireless segment records a related expense when the Wireless segment uses company-owned towers to locate its network equipment, using estimated market pricing - this revenue and expense is eliminated in consolidation. Adjusted earnings before interest, taxes, depreciation, amortization and accretion (Adjusted EBITDA) is the segment measure of profit or loss reported to the chief operating decision maker for purposes of assessing the segments' performance and making capital allocation decisions. Adjusted EBITDA is a non-GAAP financial measure that shows adjusted earnings before interest, taxes, depreciation, amortization and accretion, gains and losses, and expenses related to the strategic alternatives review of UScellular. UScellular believes Adjusted EBITDA is a useful measure of UScellular's operating results before significant recurring non-cash charges, gains and losses, and other items as presented below as it provides