Company: UZF
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0000821130-25-000032
Chunk: 24

Company: ARRAY DIGITAL INFRASTRUCTURE, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 2
Chunk 24
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)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 accretion163 165 Bad debts expense20 29 Stock-based compensation expense17 13 Deferred income taxes, net(8)4 Equity in earnings of unconsolidated entities(36)(42)Distributions from unconsolidated entities11 22 (Gain) loss on asset disposals, net2 6 (Gain) loss on license sales and exchanges, net(1)(1)Other operating activities1 1 Changes in assets and liabilities from operationsAccounts receivable1 16 Equipment installment plans receivable38 2 Inventory1 24 Accounts payable(17)(15)Customer deposits and deferred revenues(8)5 Accrued taxes29 23 Accrued interest9 9 Other assets and liabilities(82)(82)Net cash provided by operating activities160 203 Cash flows from investing activitiesCash paid for additions to property, plant and equipment(72)(133)Cash paid for licenses(2)(11)Net cash used in investing activities(74)(144)Cash flows from financing activitiesIssuance of long-term debt— 40 Repayment of long-term debt(5)(55)Tax payments, net of cash receipts, for stock-based compensation awards(7)— Repurchase of Common Shares(21)— D