Company: UZF
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0000821130-25-000032
Chunk: 39

Company: ARRAY DIGITAL INFRASTRUCTURE, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 2
Chunk 39
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 service. A limited partnership is a variable interest entity unless the limited partners hold substantive participating rights or kick-out rights over the general partner. For certain limited partnerships, UScellular is the general partner and manages the operations. In these partnerships, the limited partners do not have substantive kick-out or participating rights and, further, such limited partners do not have the authority to remove the general partner. Therefore, these limited partnerships also are recognized as VIEs and are consolidated into the UScellular financial statements under the variable interest model.The following table presents the classification and balances of the consolidated VIEs’ assets and liabilities in UScellular’s Consolidated Balance Sheet.March 31, 2025December 31, 2024(Dollars in millions)AssetsCash and cash equivalents$37 $51 Accounts receivable616 641 Inventory, net4 5 Other current assets19 16 Licenses641 641 Property, plant and equipment, net125 131 Operating lease right-of-use assets50 50 Other assets and deferred charges419 447 Total assets$1,911 $1,982 LiabilitiesCurrent liabilities$36 $37 Long-term operating lease liabilities43 43 Other deferred liabilities and credits30 30 Total liabilities1$109 $110 1    Total liabilities does not include amounts borrowed under the receivables securitization agreement.

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Unconsolidated VIEsUScellular manages the operations of and holds a variable interest in certain other limited partnerships, but is not the primary beneficiary of these entities, and therefore does not consolidate them into 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