Telephone and Data Systems, Inc
(NYSE:TDS)

Telephone and Data Systems, Inc., a telecommunications company, provides communications services in the United States. It operates through three segments: UScellular, Wireline, and Cable. The company offers wireless solutions to consumers and business and government customers, including a suite of c...

Website: http://www.tdsinc.com

Founded: 1969

Full Time Employees: 9,300

Sector: Communication Services

Industry: Telecom Services

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Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30

operating revenues																																																	929,429,750	1,180,980,000	1,228,166,000	1,308,573,000	999,767,000	1,370,108,000	1,323,169,000	1,305,791,000	965,936,000	1,325,423,000	1,279,640,000	1,258,681,000	930,267,500	1,266,416,000	1,232,219,000	1,222,615,000	939,466,250	1,258,742,000	1,242,477,000	1,256,646,000	957,012,500	1,304,598,000	1,274,351,000	1,249,101,000	896,569,000	1,236,885,000	1,192,834,000	1,156,557,000	1,434,661,000	1,027,947,000	1,065,910,000	1,060,312,000	1,025,672,000	1,028,751,000	965,558,000
services	250,421,000	266,131,000	255,933,000
site rental	51,024,000	54,991,000	45,838,000
equipment and product sales	8,005,000	9,590,000	6,750,000	186,000,000	157,000,000	235,000,000	197,000,000	204,000,000	218,000,000	271,000,000	235,000,000	226,000,000	260,000,000	303,000,000	331,000,000	285,000,000	253,000,000	312,000,000	263,000,000	262,000,000	276,000,000	328,000,000	278,000,000	247,000,000	235,000,000	315,000,000	291,000,000	248,000,000	262,000,000	321,000,000	280,000,000	262,000,000	247,000,000	190,000,000	263,000,000	255,000,000	241,000,000	288,000,000	276,000,000	243,000,000	155,069,500	236,031,000	205,745,000	178,502,000	119,621,000	198,551,000	164,213,000	115,720,000
total operating revenues	309,450,000	330,712,000	308,521,000	1,186,000,000	1,154,000,000	1,240,000,000	1,224,000,000	1,238,000,000	1,262,000,000	1,312,000,000	1,278,000,000	1,267,000,000	1,303,000,000	1,357,000,000	1,392,000,000	1,349,000,000	1,315,000,000	1,372,000,000	1,328,000,000	1,311,000,000	1,318,000,000	1,376,000,000	1,324,000,000	1,263,000,000	1,261,000,000	1,336,000,000	1,321,000,000	1,261,000,000	1,257,000,000	1,332,000,000	1,297,000,000
operating expenses
cost of operations	118,741,000	122,125,000	123,180,000
cost of equipment and products	5,746,000	6,774,000	5,452,000	213,000,000	182,000,000	280,000,000	221,000,000	227,000,000	233,000,000	300,000,000	256,000,000	252,000,000	287,000,000	353,000,000	377,000,000	308,000,000	282,000,000	353,000,000	282,000,000	276,000,000	293,000,000	345,000,000	278,000,000	241,000,000	246,000,000	327,000,000	295,000,000	249,000,000	264,000,000	326,000,000	291,000,000	266,000,000	246,000,000	212,000,000	291,000,000	287,000,000	270,000,000	321,000,000	309,000,000	291,000,000	226,870,500	337,051,000	298,450,000	271,981,000	242,216,750	349,209,000	313,011,000	306,647,000
selling, general and administrative	102,708,000	103,856,000	106,188,000	421,000,000	425,000,000	450,000,000	422,000,000	426,000,000	424,000,000	445,000,000	432,000,000	436,000,000	439,000,000	468,000,000	462,000,000	427,000,000	410,000,000	445,000,000	429,000,000	416,000,000	388,000,000	454,000,000	415,000,000	398,000,000	411,000,000	457,000,000	439,000,000	421,000,000	397,000,000	462,000,000	421,000,000	417,000,000	395,000,000	-77,022,000	422,000,000	419,000,000	406,000,000	440,000,000	429,000,000	431,000,000	75,302,000	449,084,000	435,430,000	438,040,000	71,084,000	465,014,000	470,902,000	463,669,000	10,742,000	476,864,000	470,720,000	486,903,000	-140,368,000	506,217,000	502,404,000	507,599,000	-205,020,000	495,415,000	482,103,000	491,106,000	-344,492,000	502,594,000	501,329,000	480,143,000																	272,107,000	383,500,000	357,281,000
depreciation, amortization and accretion	85,943,000	89,790,000	91,746,000	236,000,000	234,000,000	239,000,000	238,000,000	233,000,000	234,000,000	234,000,000	225,000,000	225,000,000	232,000,000	238,000,000	234,000,000	229,000,000	229,000,000	225,000,000	213,000,000	234,000,000	224,000,000	224,000,000	217,000,000	236,000,000	235,000,000	235,000,000	237,000,000	234,000,000	227,000,000	221,000,000	220,000,000	220,000,000	221,000,000	158,000,000	209,000,000	211,000,000	211,000,000	214,000,000	210,000,000	212,000,000	157,110,750	210,764,000	211,104,000	206,575,000	158,753,750	205,529,000	204,567,000	224,919,000	187,893,750	255,295,000	254,203,000	242,077,000	148,040,500	196,219,000	198,509,000	197,434,000	143,474,250	190,039,000	194,751,000	192,518,000	142,654,750	190,972,000	190,258,000	189,389,000																	126,477,750	167,588,000	167,571,000
loss on asset disposals	1,810,000	8,323,000	729,000	9,000,000	4,000,000	7,000,000	6,000,000	9,000,000	7,000,000	5,000,000	6,000,000	5,000,000	11,000,000	14,000,000	4,000,000	7,000,000	2,000,000	9,000,000	8,000,000	3,000,000	5,000,000	12,000,000	6,000,000	4,000,000	4,000,000	7,000,000	6,000,000	5,000,000	-5,000,000	6,000,000		2,000,000	2,000,000	4,000,000	6,000,000														4,022,500	2,155,000	8,319,000	5,616,000			2,995,000				3,238,000	1,143,000	2,255,750	2,378,000	1,214,000	5,431,000	2,367,250	4,557,000	2,496,000	2,416,000	4,297,500	7,100,000	6,438,000	3,652,000
loss on sale of business and other exit costs	1,562,000	-17,886,000	2,844,000	-8,000,000	-1,000,000	-56,000,000	-12,000,000										-1,000,000	-1,000,000			-1,000,000								-2,000,000
loss on license sales and exchanges	-150,878,000		-1,323,000	-4,000,000	-1,000,000	-1,000,000	-2,000,000	8,000,000	-1,000,000																		2,000,000		-2,000,000			-11,000,000		-4,750,000
total operating expenses	165,632,000	313,882,000	376,495,000	1,146,000,000	1,119,000,000	1,204,000,000	1,304,000,000	1,199,000,000	1,195,000,000	1,836,000,000	1,230,000,000	1,234,000,000	1,274,000,000	1,382,000,000	1,403,000,000	1,286,000,000	1,220,000,000	1,348,000,000	1,259,000,000	1,253,000,000	1,208,000,000	1,355,000,000	1,237,000,000	1,185,000,000	1,189,000,000	1,328,000,000	1,292,000,000	1,213,000,000	1,163,000,000	1,319,000,000	1,246,000,000																										880,148,000	1,198,499,000						1,119,458,000			1,087,877,000	1,120,437,000	843,139,750	1,152,459,000	1,124,608,000	1,095,492,000	788,758,750	1,102,396,000	1,038,879,000	1,013,760,000	1,306,638,000	923,462,000	960,012,000	951,227,000	921,610,000	920,977,000	857,706,000
operating income	143,818,000	16,830,000	-67,974,000	40,000,000	35,000,000	36,000,000	-80,000,000	39,000,000	67,000,000	-524,000,000	48,000,000	33,000,000	29,000,000	-25,000,000	-11,000,000	63,000,000	95,000,000	24,000,000	69,000,000	58,000,000	110,000,000	21,000,000	87,000,000	78,000,000	72,000,000	8,000,000	29,000,000	48,000,000	94,000,000	13,000,000	51,000,000	61,000,000	80,000,000	1,334,798,000	-232,000,000	28,000,000	82,000,000	20,000,000	41,000,000	15,000,000	944,278,000	93,434,000	32,121,000	282,629,000	1,448,293,000	-125,415,000	-49,090,000	20,685,000	1,156,481,000	-33,085,000	282,227,000	7,154,000	985,064,000	55,506,000	91,076,000	93,642,000	649,684,000	126,924,000	125,649,000	87,168,000	865,383,000	83,161,000	86,381,000	103,157,000	761,118,000	77,663,000	154,600,000	136,209,000	722,949,000	152,139,000	149,743,000	153,609,000	817,411,000	134,489,000	153,955,000	142,797,000	128,023,000	104,485,000	105,898,000	109,085,000	104,062,000	107,774,000	107,852,000
yoy	310.91%	-53.25%	-15.03%	2.56%	-47.76%	-106.87%	-266.67%	18.18%	131.03%	1996.00%	-536.36%	-47.62%	-69.47%	-204.17%	-115.94%	8.62%	-13.64%	14.29%	-20.69%	-25.64%	52.78%	162.50%	200.00%	62.50%	-23.40%	-38.46%	-43.14%	-21.31%	17.50%	-99.03%	-121.98%	117.86%	-2.44%	6573.99%	-665.85%	86.67%	-91.32%	-78.59%	27.64%	-94.69%	-34.80%	-174.50%	-165.43%	1266.35%	25.23%	279.07%	-117.39%	189.14%	17.40%	-159.61%	209.88%	-92.36%	51.62%	-56.27%	-27.52%	7.43%	-24.93%	52.62%	45.46%	-15.50%	13.70%	7.08%	-44.13%	-24.27%	5.28%	-48.95%	3.24%	-11.33%	-11.56%	13.12%	-2.74%	7.57%	538.49%	28.72%	45.38%	30.90%	23.03%	-3.05%	-1.81%
qoq	754.53%	-124.76%	-269.94%	14.29%	-2.78%	-145.00%	-305.13%	-41.79%	-112.79%	-1191.67%	45.45%	13.79%	-216.00%	127.27%	-117.46%	-33.68%	295.83%	-65.22%	18.97%	-47.27%	423.81%	-75.86%	11.54%	8.33%	800.00%	-72.41%	-39.58%	-48.94%	623.08%	-74.51%	-16.39%	-23.75%	-94.01%	-675.34%	-928.57%	-65.85%	310.00%	-51.22%	173.33%	-98.41%	910.64%	190.88%	-88.63%	-80.49%	-1254.80%	155.48%	-337.32%	-98.21%	-3595.48%	-111.72%	3845.02%	-99.27%	1674.70%	-39.06%	-2.74%	-85.59%	411.87%	1.01%	44.15%	-89.93%	940.61%	-3.73%	-16.26%	-86.45%	880.03%	-49.77%	13.50%	-81.16%	375.19%	1.60%	-2.52%	-81.21%	507.79%	-12.64%	7.81%	11.54%	22.53%	-1.33%	-2.92%	4.83%	-3.44%	-0.07%
other income																																																																																			-4,381,000
equity in earnings of unconsolidated entities	41,902,000	26,792,000	69,838,000	43,000,000	37,000,000	39,000,000	43,000,000	39,000,000	42,000,000	37,000,000	40,000,000	38,000,000	44,000,000	36,000,000	40,000,000	38,000,000	45,000,000	44,000,000	48,000,000	48,000,000	42,000,000	43,000,000	48,000,000	44,000,000	45,000,000	39,000,000	44,000,000	41,000,000	44,000,000	39,000,000	42,000,000	40,000,000	38,000,000	25,250,000	35,000,000	33,000,000	32,000,000	38,000,000	36,000,000	35,000,000	27,455,750	39,770,000	35,412,000	34,641,000	27,049,500	36,081,000	34,790,000	37,327,000	25,075,750	37,609,000	35,605,000	27,089,000	18,449,000	25,015,000	25,392,000	23,389,000	16,007,750	22,053,000	22,590,000	19,388,000	18,761,750	24,147,000	25,997,000	24,903,000	16,758,500	23,334,000	18,363,000	25,337,000	16,736,250	22,566,000	22,909,000	21,470,000	17,848,500	23,823,000	23,875,000	23,696,000	44,941,000	17,737,000	22,491,000
interest and dividend income	13,786,000	12,263,000	15,663,000	6,000,000	6,000,000	7,000,000	8,000,000	7,000,000	5,000,000	4,000,000	5,000,000	6,000,000	5,000,000	7,000,000	4,000,000	5,000,000	2,000,000	2,000,000	3,000,000	3,000,000	3,000,000	3,000,000	4,000,000	2,000,000	6,000,000	5,000,000	7,000,000	9,000,000	9,000,000	8,000,000	6,000,000	6,000,000	5,000,000	3,000,000	4,000,000	4,000,000	4,000,000	15,000,000	15,000,000	14,000,000	7,029,750	9,617,000	10,117,000	8,385,000	2,440,750	4,526,000	2,751,000	2,486,000	1,671,250	2,507,000	2,600,000	1,578,000	1,723,500	2,359,000	2,352,000	2,183,000	1,729,000	2,199,000	2,093,000	2,624,000	1,975,000	2,785,000	2,674,000	2,441,000	2,108,750	3,461,000	2,902,000	2,072,000	8,954,500	8,617,000	17,455,000	9,746,000	45,662,750	18,687,000	147,768,000	16,196,000	53,130,000	14,204,000	146,545,000	16,237,000	16,813,000	14,204,000	118,814,000
interest expense	-5,321,000	-12,316,000	-47,278,000	-70,000,000	-61,000,000	-71,000,000	-76,000,000	-73,000,000	-57,000,000	-66,000,000	-62,000,000	-62,000,000	-53,000,000	-56,000,000	-46,000,000	-40,000,000	-33,000,000	-39,000,000	-54,000,000	-86,000,000	-53,000,000	-49,000,000	-43,000,000	-38,000,000	-37,000,000	-37,000,000	-42,000,000	-43,000,000	-43,000,000	-43,000,000	-43,000,000	-43,000,000	-43,000,000	-32,000,000	-43,000,000	-43,000,000	-42,000,000	-42,000,000	-43,000,000	-41,000,000	-25,698,000	-35,043,000	-33,919,000	-33,830,000	-20,943,750	-27,170,000	-27,898,000	-28,707,000	-18,302,000	-24,961,000	-23,749,000	-24,498,000	-17,025,000	-20,497,000	-23,139,000	-24,464,000			-45,417,000	-28,099,000	-21,630,000	-28,297,000	-29,265,000		-23,195,000	-30,430,000
short-term imputed spectrum lease income	34,200,000	38,620,000	30,413,000
other	5,450,000	3,110,000	5,347,000	2,000,000	3,000,000	2,000,000	1,000,000	1,000,000	1,000,000	1,000,000																				1,000,000	2,000,000	1,000,000	1,000,000				1,000,000		1,000,000		221,776,000	-56,000	202,000		69,750	69,000	50,000	160,000	5,147,000	145,000	-197,000	-154,000	4,745,000	217,000	-249,000	228,000	5,463,000	115,000	1,306,000	80,000	9,124,000	-438,000	-1,929,000		4,727,000	1,030,000		499,000	3,938,000	383,000	1,902,000
total other income	90,017,000	68,469,000	73,983,000
income before income taxes	233,835,000	85,299,000	6,009,000	21,000,000	20,000,000	13,000,000	-104,000,000	13,000,000	58,000,000	-548,000,000	31,000,000	15,000,000	25,000,000	-38,000,000	-13,000,000	66,000,000	109,000,000	31,000,000	66,000,000	23,000,000	102,000,000	17,000,000	99,000,000	86,000,000	86,000,000	15,000,000	38,000,000	55,000,000	104,000,000	18,000,000	58,000,000	65,000,000	81,000,000	-34,250,000	-236,000,000	22,000,000	77,000,000	30,000,000	50,000,000	23,000,000	110,869,000	107,722,000	43,933,000	291,821,000	-29,838,750	-111,909,000	-39,397,000	31,951,000	76,097,000	-17,785,000	311,004,000	11,169,000	62,320,500	62,600,000	91,704,000	94,978,000	86,879,750	141,763,000	119,594,000	81,161,000	66,352,000	81,358,000	83,858,000	101,591,000	88,166,250	75,058,000	143,595,000	134,012,000
income tax expense	54,408,000	22,935,000	-72,772,000	3,000,000	8,000,000	5,000,000	-25,000,000	6,000,000	20,000,000	-45,000,000	27,000,000	15,000,000	13,000,000	-9,000,000	-3,000,000	27,000,000	37,000,000	-5,000,000	19,000,000	-11,000,000	31,000,000	2,000,000	6,000,000	8,000,000	3,000,000		15,000,000	16,000,000	34,000,000	-2,000,000	5,000,000	21,000,000	24,000,000	9,750,000		10,000,000	34,000,000	14,000,000	18,000,000	13,000,000	44,695,000	45,327,000		116,020,000				11,657,000			132,607,000	4,180,000	21,404,750	22,442,000	35,765,000	27,412,000	23,816,000	53,545,000	10,916,000	28,917,000	24,541,750	28,775,000	31,469,000	38,465,000	30,366,750	27,793,000	53,036,000	40,638,000	40,884,000	61,024,000	53,261,000	49,251,000	70,961,250	115,907,000	26,700,000	141,238,000	-201,523,000	29,492,000	122,118,000	35,968,000	13,431,000	32,766,000	76,005,000
net income from continuing operations	179,427,000	62,364,000	78,781,000
less: net income from continuing operations attributable to noncontrolling interests, net of tax	32,813,000	7,839,000	21,236,000
net income from continuing operations attributable to tds shareholders	146,614,000	54,525,000	57,545,000
net income from discontinued operations	-2,389,000	1,246,000	-151,899,000
less: net income from discontinued operations attributable to noncontrolling interests, net of tax	-369,000	-701,000	-12,604,000
net income from discontinued operations attributable to tds shareholders	-2,020,000	1,947,000	-139,295,000
net income	177,038,000	63,610,000	-73,118,000	18,000,000	12,000,000	8,000,000	-79,000,000	7,000,000	38,000,000	-503,000,000	4,000,000		12,000,000	-29,000,000	-10,000,000	39,000,000	72,000,000	36,000,000	47,000,000	34,000,000	71,000,000	15,000,000	93,000,000	78,000,000	83,000,000	15,000,000	23,000,000	39,000,000	70,000,000	20,000,000	53,000,000	44,000,000	57,000,000	-44,000,000	-231,000,000	12,000,000	43,000,000	16,000,000	32,000,000	10,000,000	66,174,000	62,395,000	26,500,000	175,801,000	-31,657,750	-121,199,000	-25,726,000	20,294,000	1,244,906,000	-11,054,000	178,397,000	6,989,000	1,067,617,000	40,158,000	55,939,000	67,566,000	748,106,000	88,218,000	108,678,000	52,244,000	1,011,458,000	52,583,000	52,389,000	63,126,000	945,624,000	47,265,000	90,559,000	93,374,000	947,523,000	101,223,000	87,757,000	73,487,000	846,166,000	231,737,000		219,325,000	-294,396,000	38,615,000	172,467,000	39,875,000	60,873,000	41,566,000	99,361,000
yoy	1375.32%	695.13%	-7.45%	157.14%	-68.42%	-101.59%	-2075.00%	NaN%	216.67%	1634.48%	-140.00%	NaN%	-83.33%	-180.56%	-121.28%	14.71%	1.41%	140.00%	-49.46%	-56.41%	-14.46%	0.00%	304.35%	100.00%	18.57%	-25.00%	-56.60%	-11.36%	22.81%	-145.45%	-122.94%	266.67%	32.56%	-375.00%	-821.88%	20.00%	-35.02%	-74.36%	20.75%	-94.31%	-309.03%	-151.48%	-203.01%	766.27%	-102.54%	996.43%	-114.42%	190.37%	16.61%	-127.53%	218.91%	-89.66%	42.71%	-54.48%	-48.53%	29.33%	-26.04%	67.77%	107.44%	-17.24%	6.96%	11.25%	-42.15%	-32.39%	-0.20%	-53.31%	3.19%	27.06%	11.98%	-56.32%		-66.49%	-387.42%	500.12%		450.03%	-583.62%	-7.10%	73.58%
qoq	178.32%	-187.00%	-506.21%	50.00%	50.00%	-110.13%	-1228.57%	-81.58%	-107.55%	-12675.00%	NaN%	NaN%	-141.38%	190.00%	-125.64%	-45.83%	100.00%	-23.40%	38.24%	-52.11%	373.33%	-83.87%	19.23%	-6.02%	453.33%	-34.78%	-41.03%	-44.29%	250.00%	-62.26%	20.45%	-22.81%	-229.55%	-80.95%	-2025.00%	-72.09%	168.75%	-50.00%	220.00%	-84.89%	6.06%	135.45%	-84.93%	-655.32%	-73.88%	371.11%	-226.77%	-98.37%	-11362.04%	-106.20%	2452.54%	-99.35%	2558.54%	-28.21%	-17.21%	-90.97%	748.02%	-18.83%	108.02%	-94.83%	1823.55%	0.37%	-17.01%	-93.32%	1900.69%	-47.81%	-3.01%	-90.15%	836.07%	15.34%	19.42%	-91.32%	265.14%			-174.50%	-862.39%	-77.61%	332.52%	-34.49%	46.45%	-58.17%
less: net income attributable to noncontrolling interests, net of tax	32,444,000	7,138,000	8,632,000	6,000,000	5,000,000		-13,000,000	4,000,000	9,000,000	3,000,000	4,000,000	2,000,000	4,000,000	-4,000,000	-2,000,000	4,000,000	11,000,000	6,000,000	7,000,000	7,000,000	12,000,000	1,000,000	15,000,000	13,000,000	14,000,000	4,000,000	5,000,000	6,000,000	11,000,000	4,000,000	7,000,000												3,454,000	30,061,000	-1,704,250	-5,169,000	-3,688,000	2,040,000	6,587,000	-1,542,000	-22,320,000	-5,570,000	-9,988,750	-11,041,000	-13,602,000	-15,312,000			-17,615,000	-10,622,000	-9,478,750	-11,958,000	-12,102,000		-13,453,500	-11,620,000
net income attributable to tds shareholders	144,594,000	56,472,000	-81,750,000	12,000,000	7,000,000	6,000,000	-66,000,000	3,000,000	29,000,000	-506,000,000		-2,000,000	8,000,000	-25,000,000	-8,000,000	35,000,000	61,000,000	30,000,000	40,000,000	27,000,000	59,000,000	14,000,000	78,000,000	65,000,000	69,000,000	11,000,000	18,000,000	33,000,000	59,000,000	16,000,000	46,000,000	33,000,000	39,000,000	-33,500,000	-181,000,000	10,000,000	37,000,000	13,000,000	28,000,000	8,000,000	54,967,250	51,083,000	23,046,000	145,740,000	-29,953,500	-116,030,000	-22,038,000	18,254,000	36,996,000	-9,512,000	156,077,000	1,419,000	30,927,000	29,117,000	42,337,000	52,254,000	51,688,000	71,294,000	91,063,000	41,622,000	32,331,500	40,625,000	40,287,000	49,115,000
tds preferred share dividends	17,306,000	17,306,000	17,306,000	17,000,000	17,000,000	17,000,000	17,000,000	17,000,000	17,000,000	17,000,000	17,000,000	17,000,000	17,000,000	17,000,000	17,000,000	17,000,000	17,000,000	18,000,000	12,000,000	7,000,000
net income attributable to tds common shareholders	127,288,000	39,166,000	-99,056,000	-5,000,000	-10,000,000			-14,000,000	12,000,000	-523,000,000	-17,000,000	-19,000,000	-9,000,000	-42,000,000	-25,000,000	18,000,000	44,000,000	12,000,000	28,000,000	20,000,000	57,000,000
loss on impairment of licenses		11,919,750	47,679,000			34,000,000	136,000,000									3,000,000
service				1,000,000,000	997,000,000	1,005,000,000	1,027,000,000	1,034,000,000	1,044,000,000	1,041,000,000	1,043,000,000	1,041,000,000	1,043,000,000	1,054,000,000	1,061,000,000	1,064,000,000	1,062,000,000	1,060,000,000	1,065,000,000	1,049,000,000	1,042,000,000	1,048,000,000	1,046,000,000	1,016,000,000	1,026,000,000	1,021,000,000	1,030,000,000	1,013,000,000	995,000,000	1,011,000,000	1,017,000,000	993,000,000	978,000,000	744,000,000	988,000,000	992,000,000	997,000,000	1,013,000,000	1,007,000,000	1,000,000,000	820,377,000	1,137,767,000	1,070,650,000	1,073,091,000	808,473,250	1,081,472,000	1,072,179,000	1,080,242,000
cost of services				279,000,000	276,000,000	284,000,000	295,000,000	296,000,000	298,000,000	307,000,000	311,000,000	316,000,000	305,000,000	309,000,000	326,000,000	312,000,000	298,000,000	317,000,000	327,000,000	324,000,000	299,000,000	325,000,000	321,000,000	306,000,000	293,000,000	302,000,000	313,000,000	304,000,000	284,000,000	304,000,000	314,000,000	300,000,000	288,000,000	218,500,000	294,000,000	298,000,000	282,000,000	305,000,000	297,000,000	288,000,000	224,222,500	303,091,000	300,152,000	293,647,000	214,907,250	297,183,000	286,488,000	275,958,000
total other expense				-19,000,000	-15,000,000
basic weighted-average shares outstanding				115,000,000	115,000,000	114,000,000	114,000,000	114,000,000	113,000,000	113,000,000	113,000,000	113,000,000	113,000,000	114,000,000	114,000,000	115,000,000	115,000,000	115,000,000	115,000,000	115,000,000	114,000,000	114,000,000	114,000,000	114,000,000	115,000,000	114,000,000	115,000,000	114,000,000	114,000,000	112,000,000	112,000,000	112,000,000	111,000,000		111,000,000	111,000,000	110,000,000	110,000,000	109,000,000	109,000,000		108,848,000	108,484,000	108,169,000		108,252,000	108,719,000	108,988,000		108,571,000	108,385,000	108,255,000		108,819,000	108,732,000	108,653,000		103,487,000	103,509,000	104,025,000		104,881,000	105,520,000	105,938,000		108,289,000	110,741,000	112,238,000		115,700,000	116,267,000	117,570,000		118,705,000	117,031,000	116,837,000	115,904,000	115,423,000	115,768,000	115,741,000	115,296,000	115,423,000	115,224,000
basic earnings per share attributable to tds common shareholders				-0.05	-0.09	-0.1	-0.73	-0.13	0.11	-4.64	-0.16	-0.17	-0.08	-0.38	-0.22	0.15	0.38	0.12	0.24	0.18	0.49
diluted weighted-average shares outstanding				115	115	114	114	114	117	113	113	113	113	114	114	116	116	116	116	116	116	115	115	115	116	116	116	116	116	114	114	113	113		111	112	112	111	111	110		110,214	109,785	108,946		108,252	108,719	109,672		108,571	108,913	108,693		109,246	109,022	109,098		103,806	104,062	104,554		105,298	105,907	106,250		108,565	110,971	112,427		116,193	116,814	118,191		119,950	117,031	118,383	116,844	116,103	116,640	116,327	116,081	116,212	115,959
diluted earnings per share attributable to tds common shareholders				-0.05	-0.09	-0.1	-0.73	-0.13	0.1	-4.65	-0.16	-0.17	-0.08	-0.37	-0.22	0.15	0.37	0.11	0.24	0.17	0.48
investment and other income
total investment and other expense						-15,000,000	-24,000,000	-26,000,000	-9,000,000
net loss attributable to tds common shareholders						-21,500,000	-83,000,000
total investment and other income										-24,000,000	-17,000,000	-18,000,000	-4,000,000	-13,000,000	-2,000,000	3,000,000	14,000,000	7,000,000	-3,000,000	-35,000,000	-8,000,000	-4,000,000	12,000,000	8,000,000	14,000,000	7,000,000	9,000,000	7,000,000	10,000,000	5,000,000	7,000,000																										1,091,750	14,839,000											6,952,500	31,879,000	9,784,000		79,004,750	185,951,000		235,737,000	128,254,250		200,626,000		4,664,000		76,421,000
gain on investments																						-1,000,000	3,000,000																										3,629,500		14,518,000																								137,920,000		161,346,000		91,418,000		125,000
tds preferred dividend requirement																					2,000,000																				-9,250	-12,000	-12,000	-12,000	-9,250	-12,000	-12,000	-12,000	-9,250	-12,000	-12,000
basic earnings per share attributable to tds shareholders																						0.12	0.68	0.57	0.6	0.1	0.15	0.29	0.52												0.508	0.47	0.21	1.35	-0.275	-1.07	-0.2	0.17	0.34	-0.09	1.44	0.01	0.285	0.27	0.39	0.48	0.498	0.69	0.88	0.4	0.308	0.39	0.38	0.46	0.403	0.33	0.63	0.64
diluted earnings per share attributable to tds shareholders																						0.12	0.66	0.56	0.59	0.1	0.15	0.28	0.5												0.498	0.46	0.21	1.33	-0.275	-1.07	-0.2	0.16	0.338	-0.09	1.42	0.01	0.283	0.27	0.39	0.48	0.495	0.68	0.87	0.4	0.305	0.38	0.38	0.46	0.4	0.33	0.63	0.64
loss on impairment of goodwill																																		65,500,000	262,000,000
net income available to tds common shareholders																														16,000,000	46,000,000	33,000,000	39,000,000	-33,500,000	-181,000,000	10,000,000	37,000,000	13,000,000	28,000,000	8,000,000
basic earnings per share available to tds common shareholders																														0.265	0.41	0.3	0.35	-0.303	-1.64	0.09	0.34	0.12	0.25	0.07
diluted earnings per share available to tds common shareholders																														0.26	0.41	0.29	0.34	-0.303	-1.64	0.09	0.33	0.11	0.25	0.07
dividends per share to tds shareholders																														0.12	0.16	0.16	0.16	0.116	0.155	0.155	0.155	0.148	0.148	0.148	0.106	0.141	0.141	0.141	0.101	0.134	0.134	0.134	0.096	0.128	0.128
less: net income attributable to noncontrolling
interests, net of tax																																11,000,000	18,000,000	-10,500,000	-50,000,000	2,000,000	6,000,000	3,000,000	4,000,000	2,000,000	11,206,750	11,312,000
the accompanying notes are an integral part of these consolidated financial statements.
(gain) loss on asset disposals																																				6,000,000	4,000,000	8,000,000	6,000,000	6,000,000	3,762,000	4,919,000	4,752,000	5,377,000	4,906,500	9,293,000	7,903,000	2,430,000								-2,095,000
(gain) loss on license sales and exchanges																																					-17,000,000				-36,721,000	-23,986,000	-25,000	-122,873,000	-22,861,500			-91,446,000
(gain) loss on sale of business and other exit costs																																									-32,482,750	-559,000	-5,589,000	-123,783,000	-2,269,750	-4,790,000	2,611,000	-6,900,000	-74,409,250	-1,534,000	-303,034,000	6,931,000
loss on impairment of assets																																													21,000,000	84,000,000							128,750
net income available to common shareholders																																									54,958,000	51,071,000	23,034,000	145,728,000	-29,962,750	-116,042,000	-22,050,000	18,242,000	36,986,750	-9,524,000	156,065,000	1,407,000	30,917,750	29,105,000	42,325,000	52,242,000	51,678,750	71,282,000	91,051,000	41,610,000	32,322,250	40,613,000	40,275,000	49,103,000
income tax benefit																																											17,433,000		1,819,000	9,290,000	-13,671,000		32,514,000	-6,731,000
cost of services and products																																																	389,227,000	481,285,000	515,731,000	559,892,000	409,335,000	600,459,000	527,670,000	509,211,000	370,760,250	522,396,000	473,899,000	486,746,000	346,220,000	487,311,000	453,037,000	444,495,000	343,910,500	477,116,000	431,119,000	467,407,000	339,132,500	461,302,000	452,845,000	442,383,000	314,469,750	436,630,000	415,281,000	405,968,000	481,764,000	373,967,000	369,559,000	375,139,000	374,202,000	369,889,000
preferred dividend requirement																																																				-12,000	-9,250	-12,000	-12,000	-12,000			-12,000	-12,000	-9,250	-12,000	-12,000		-9,500	-13,000																	-52,000
dividends per share																																																				0.128	0.092	0.123	0.123	0.123	0.088	0.118	0.118	0.118	0.084	0.113	0.113	0.113	0.081	0.108	0.108	0.108	0.077	0.103	0.103	0.103	0.073	0.098	0.098	0.098	0.107	0.088	0.093	0.093	0.087	0.088	0.088
(gain) loss on asset disposals and exchanges																																																					3,151,750	11,707,000
gain on investment																																																					-932,000		-3,728,000		6,525,750	12,730,000	13,373,000
loss on impairment of intangible assets																																																							515,000
selling, general and administrative expense																																																																	361,480,000	507,159,000	470,913,000	467,848,000	359,170,000	496,082,000	477,299,000	463,299,000	330,905,750	474,071,000	433,070,000	416,482,000	594,691,000	380,252,000	410,468,000	393,421,000
depreciation, amortization and accretion expense																																																																	139,590,500	192,247,000	183,349,000	182,766,000	140,539,750	187,975,000	188,026,000	186,158,000	143,383,250	191,695,000	190,528,000	191,310,000	230,183,000	169,243,000	179,985,000	182,667,000
gain on investments and financial instruments																																																																					7,898,750	31,997,000	3,088,000
net income attributable to tds																																																																	44,346,000	35,645,000	69,731,000	72,008,000
net income available to common																																																																	44,336,500	35,632,000	69,718,000	71,995,000	65,607,000	101,210,000	87,744,000	73,474,000	110,599,000	231,724,000	-8,640,000	219,312,000	-294,409,000	38,565,000	172,417,000	39,824,000	60,823,000	41,516,000	99,309,000
income before income taxes, minority interest and extraordinary item																																																																					120,825,250	184,018,000			186,815,000	320,440,000
income before minority interest and extraordinary item																																																																					79,941,250	122,994,000			115,853,750	204,533,000
minority share of income, net of tax
income before extraordinary item																																																																					65,616,750	101,223,000			99,902,000	188,910,000
extraordinary item, net of taxes																																																																									10,706,750	42,827,000
basic earnings per share																																																																							0.75	0.62	0.94	1.95	-0.07	1.88	0.99	0.33	1.49	0.34	0.35	0.36	0.86
extraordinary item																																																																									90	360
diluted earnings per share																																																																							0.75	0.62	0.923	1.93		1.85	0.98	0.33	1.48	0.34	0.348	0.36	0.85
income before income taxes and minority interest																																																																							159,527,000	139,756,000			48,286,000	378,534,000	199,442,750	74,941,000	306,524,000	86,093,000
income before minority interest																																																																							106,266,000	90,505,000			21,586,000	237,296,000	119,947,250	45,449,000	184,406,000	50,125,000			108,268,000
fair value adjustment of derivative instruments																																																																												255,870,000	123,823,500
gain on sale of investments																																																																									96,695,000	248,860,000
other expense
minority share of income																																																																																			-8,907,000
diluted earningsper share																																																																											-0.08
income from continuing operations																																																																													-455,814,998.61	38,275,000			60,216,000	41,226,000
discontinued operations, net of tax																																																																													85,000	340,000			657,000	340,000
investment income																																																																																19,805,000	18,746,000	18,065,000	16,520,000
(gain) on assets held for sale
interest																																																																																			-54,532,000
income from continuing operations before income taxes and minority interest																																																																																	83,538,000	83,223,000
income from continuing operations before minority interest																																																																																	70,107,000	50,457,000
cost of services and products (exclusive of
shown below)																																																																																			332,854,000
income before income taxes and
minority interest																																																																																			184,273,000

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2017-09-30	2016-03-31	2015-09-30	2014-12-31	2012-09-30	2012-06-30	2012-03-31	2011-09-30	2011-06-30	2011-03-31	2010-09-30	2010-06-30	2010-03-31	2009-09-30	2009-06-30	2009-03-31	2008-09-30	2008-06-30	2008-03-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30

current assets
cash and cash equivalents	1,366,604,000	765,952,000	932,994,000	540,000,000	348,000,000	364,000,000	451,000,000	322,000,000	249,000,000	236,000,000	256,000,000	251,000,000	259,000,000		442,000,000	466,000,000	549,000,000	367,000,000	725,000,000	385,000,000	1,042,000,000	1,429,000,000	1,076,000,000	565,000,000	421,000,000	465,000,000	853,000,000	834,000,000	959,000,000	921,000,000	1,062,000,000		1,000,000	1,054,000,000	865,425,000		589,284,000	613,764,000	639,130,000	599,545,000	584,436,000	592,010,000	390,008,000	378,477,000	645,466,000	778,159,000	664,757,000	756,267,000	1,006,083,000	1,125,163,000	1,209,786,000	1,319,978,000	1,303,231,000	1,176,403,000	1,013,325,000	1,029,756,000	1,244,095,000	1,076,600,000	1,095,791,000	1,084,540,000	1,132,739,000
accounts receivable																																	430,000,000
customers, less allowances of 4,899 and 3,406, respectively	63,433,000
other, less allowances of 2,480 and 3,203, respectively	39,451,000
inventory	3,746,000	4,062,000	4,039,000	130,000,000	182,000,000	183,000,000	167,000,000	148,000,000	184,000,000	208,000,000	181,000,000	216,000,000	269,000,000		252,000,000	213,000,000	184,000,000	178,000,000	142,000,000	189,000,000	145,000,000	154,000,000	164,000,000	152,000,000	218,000,000	169,000,000	147,000,000	154,000,000	165,000,000	150,000,000	132,000,000			160,000,000	183,884,000		201,693,000	189,242,000	134,929,000	153,077,000	165,156,000	113,352,000	124,417,000	124,810,000	157,935,000	126,007,000	130,963,000	113,384,000	118,183,000	126,083,000	128,771,000	126,333,000	130,973,000	113,477,000	128,981,000
prepaid expenses	33,858,000	28,206,000	29,382,000	76,000,000	98,000,000	72,000,000	88,000,000	88,000,000	107,000,000	86,000,000	99,000,000	104,000,000	113,000,000		94,000,000	106,000,000	109,000,000	103,000,000	104,000,000	108,000,000	114,000,000	105,000,000	109,000,000	106,000,000	115,000,000	98,000,000	98,000,000	95,000,000	91,000,000	103,000,000	102,000,000			130,000,000	119,453,000		86,346,000	86,794,000	84,201,000	80,742,000	89,997,000	87,796,000	93,406,000	92,770,000	101,905,000	95,677,000	83,457,000	92,547,000	100,050,000	89,455,000	92,890,000	58,448,000	57,252,000	53,937,000	43,529,000	45,916,000	52,747,000	47,889,000	40,704,000
income taxes receivable		1,292,000		2,000,000	3,000,000	2,000,000	3,000,000	4,000,000	3,000,000	4,000,000	3,000,000	5,000,000	60,000,000		60,000,000	58,000,000	58,000,000	184,000,000	187,000,000	187,000,000	188,000,000	187,000,000	226,000,000	160,000,000	111,000,000	36,000,000	3,000,000	17,000,000	8,000,000	12,000,000	3,000,000			5,000,000			11,595,000	9,376,000	9,314,000	60,960,000	63,978,000
other current assets	12,987,000	13,976,000	13,959,000	32,000,000	38,000,000	33,000,000	40,000,000	42,000,000	49,000,000	52,000,000	60,000,000	63,000,000	71,000,000		57,000,000	54,000,000	62,000,000	61,000,000	56,000,000	50,000,000	53,000,000	36,000,000	39,000,000	39,000,000	33,000,000	29,000,000	28,000,000	28,000,000	28,000,000	28,000,000	30,000,000		6,000,000	32,000,000	30,425,000		26,720,000	19,224,000	18,117,000	17,922,000	17,390,000	15,516,000	60,802,000	62,659,000	68,669,000	72,812,000	71,144,000	28,435,000	22,054,000	32,612,000	23,872,000	21,743,000	19,808,000	21,071,000	61,738,000	27,800,000	24,458,000	31,723,000	29,243,000	63,720,000	59,660,000
total current assets	1,520,079,000	923,469,000	1,079,744,000	1,786,000,000	1,673,000,000	1,695,000,000	1,746,000,000	1,641,000,000	1,628,000,000	1,660,000,000	1,680,000,000	1,746,000,000	1,903,000,000		2,086,000,000	2,051,000,000	2,085,000,000	2,044,000,000	2,297,000,000	1,991,000,000	2,642,000,000	3,026,000,000	2,670,000,000	2,086,000,000	1,950,000,000	1,921,000,000	2,245,000,000	2,228,000,000	2,335,000,000	2,330,000,000	2,387,000,000
non-current assets held for sale	737,437,000	1,598,131,000	1,617,872,000
licenses	1,642,824,000	1,642,972,000	1,650,288,000	4,592,000,000	4,590,000,000	4,588,000,000	4,586,000,000	4,724,000,000	4,720,000,000	4,702,000,000	4,700,000,000	4,704,000,000	4,702,000,000		4,689,000,000	4,686,000,000	4,686,000,000	4,097,000,000	4,111,000,000	3,926,000,000	3,924,000,000	2,638,000,000	2,637,000,000	2,630,000,000	2,511,000,000	2,480,000,000	2,470,000,000	2,478,000,000	2,222,000,000	2,195,000,000	2,198,000,000		649,000,000	1,818,000,000	1,844,197,000		1,555,118,000	1,507,447,000	1,505,110,000	1,493,796,000	1,462,926,000	1,460,426,000	1,453,526,000	1,453,526,000	1,446,825,000	1,453,526,000	1,453,526,000	1,453,690,000	1,831,526,000	1,829,014,000	1,824,144,000	1,532,165,000	1,530,635,000	1,528,307,000	1,520,407,000	1,450,369,000	1,370,369,000	1,364,836,000	1,365,063,000	1,340,489,000	1,362,434,000
other intangible assets, net of accumulated amortization of 164,490 and 157,208, respectively	124,391,000
investments in unconsolidated entities	486,132,000	461,922,000	500,997,000	493,000,000	527,000,000	500,000,000	524,000,000	507,000,000	526,000,000	505,000,000	520,000,000	500,000,000	519,000,000		503,000,000	483,000,000	506,000,000	479,000,000	509,000,000	487,000,000	497,000,000	477,000,000	508,000,000	486,000,000	509,000,000	488,000,000	511,000,000	490,000,000	507,000,000	480,000,000	500,000,000			423,000,000	386,153,000		199,480,000	213,049,000	191,644,000	195,872,000	177,963,000	206,925,000	214,114,000	200,352,000	221,112,000	219,760,000	234,409,000	224,585,000	227,425,000	209,053,000	224,282,000	225,268,000	204,180,000	218,874,000	197,636,000	243,849,000	220,430,000	231,196,000	215,424,000	223,770,000	211,011,000
property, plant and equipment, net of accumulated depreciation	3,025,322,000	2,965,455,000
operating lease right-of-use assets	513,237,000	515,081,000	523,104,000	975,000,000	978,000,000	982,000,000	970,000,000	966,000,000	979,000,000	987,000,000	988,000,000	988,000,000	986,000,000		1,010,000,000	1,022,000,000	1,033,000,000	1,040,000,000	1,021,000,000	1,021,000,000	1,005,000,000	998,000,000	988,000,000	985,000,000	975,000,000	972,000,000	970,000,000	963,000,000	965,000,000
other assets and deferred charges	161,905,000	159,600,000	137,888,000	726,000,000	729,000,000	762,000,000	728,000,000	753,000,000	783,000,000	807,000,000	777,000,000	780,000,000	793,000,000		758,000,000	675,000,000	668,000,000	710,000,000	648,000,000	626,000,000	627,000,000	652,000,000	580,000,000	586,000,000	576,000,000	607,000,000	579,000,000	568,000,000	720,000,000	616,000,000	594,000,000		264,000,000	211,000,000	236,803,000		121,917,000	115,435,000	104,109,000	107,237,000	94,874,000	119,892,000	62,970,000	63,281,000	64,651,000	65,583,000	65,179,000	95,656,000	53,558,000	51,910,000	52,099,000	50,630,000	53,348,000	53,978,000	56,593,000	55,913,000	56,231,000	55,259,000	55,830,000	54,008,000	90,952,000
total assets1	8,211,327,000	8,398,303,000	8,532,378,000	13,526,000,000	13,536,000,000	13,682,000,000	13,726,000,000	13,872,000,000	13,866,000,000	13,921,000,000	14,414,000,000	14,406,000,000	14,539,000,000		14,479,000,000	14,242,000,000	14,124,000,000	13,493,000,000	13,446,000,000	12,780,000,000	13,407,000,000		11,895,000,000	11,161,000,000	10,895,000,000	10,781,000,000	10,881,000,000	10,795,000,000	10,787,000,000	9,783,000,000	9,719,000,000			9,383,000,000
current liabilities																																	36,000,000
current portion of long-term debt	7,515,000	5,274,000	3,186,000	37,000,000	35,000,000	31,000,000	29,000,000	29,000,000	26,000,000	26,000,000	24,000,000	60,000,000	20,000,000		16,000,000	11,000,000	9,000,000	6,000,000	194,000,000	6,000,000	6,000,000	5,000,000	3,000,000	5,000,000	8,000,000	10,000,000	21,000,000	21,000,000	21,000,000	21,000,000	20,000,000	20,000,000								3,554,000					2,277,000		17,427,000	17,431,000	6,171,000	4,390,000	4,444,000	2,967,000	2,967,000	2,967,000	2,917,000	3,091,000	203,091,000	203,124,000	237,948,000	202,727,000	2,727,000
accounts payable	97,068,000	115,822,000	120,996,000	268,000,000	247,000,000	280,000,000	334,000,000	327,000,000	302,000,000	360,000,000	550,000,000	364,000,000	344,000,000		506,000,000	443,000,000	388,000,000	481,000,000	466,000,000	374,000,000	360,000,000	508,000,000	399,000,000	349,000,000	378,000,000	374,000,000	386,000,000	367,000,000	400,000,000	365,000,000	365,000,000	296,000,000								416,288,000					307,423,000		258,484,000	271,141,000	320,763,000	307,572,000	298,840,000	296,036,000	294,709,000	267,883,000	294,932,000	297,640,000	309,851,000	303,869,000	357,273,000	272,110,000	274,288,000
customer deposits and deferred revenues	84,165,000	125,140,000	164,582,000	270,000,000	276,000,000	283,000,000	270,000,000	282,000,000	284,000,000	277,000,000	270,000,000	278,000,000	277,000,000		266,000,000	243,000,000	245,000,000	236,000,000	207,000,000	199,000,000	202,000,000	193,000,000	168,000,000	181,000,000	181,000,000	189,000,000	195,000,000	205,000,000	203,000,000	197,000,000	182,000,000	165,000,000								203,367,000					166,080,000		169,277,000	173,278,000	176,098,000	176,574,000	172,377,000	166,226,000	160,935,000	153,979,000	141,164,000	136,940,000	126,709,000	125,577,000	121,228,000	119,366,000	124,380,000
accrued interest	3,415,000	2,836,000	4,224,000	15,000,000	25,000,000	16,000,000	26,000,000	17,000,000	21,000,000	12,000,000	20,000,000	12,000,000	21,000,000		20,000,000	11,000,000	20,000,000	10,000,000	20,000,000	13,000,000	25,000,000	16,000,000	24,000,000	11,000,000	19,000,000	11,000,000	20,000,000	13,000,000	22,000,000	11,000,000	22,000,000	12,000,000								14,678,000					21,330,000		14,749,000	23,593,000	23,984,000	14,676,000	24,264,000	31,024,000	26,017,000	32,132,000	26,729,000	35,917,000	29,212,000	33,513,000	28,946,000
accrued taxes	138,488,000	46,721,000	138,688,000	39,000,000	41,000,000	39,000,000	49,000,000	43,000,000	44,000,000	43,000,000	51,000,000	45,000,000	45,000,000		48,000,000	42,000,000	43,000,000	45,000,000	46,000,000	66,000,000	67,000,000	69,000,000	63,000,000	41,000,000	38,000,000	41,000,000	63,000,000	45,000,000	44,000,000	44,000,000	55,000,000	54,000,000								45,682,000					99,432,000		39,618,000	31,252,000	107,200,000	310,861,000	153,245,000	158,707,000	102,472,000	46,937,000	38,324,000	58,023,000	119,310,000	85,875,000	47,180,000	92,654,000	148,125,000
accrued compensation	27,630,000	56,774,000	51,945,000	97,000,000	62,000,000	150,000,000	107,000,000	94,000,000	59,000,000	149,000,000	110,000,000	104,000,000	78,000,000		107,000,000	98,000,000	77,000,000	137,000,000	112,000,000	92,000,000	73,000,000	132,000,000	107,000,000	85,000,000	77,000,000	121,000,000	111,000,000	77,000,000	73,000,000	127,000,000	115,000,000	84,000,000								76,481,000					62,021,000		66,492,000	70,387,000	85,792,000	61,840,000	61,806,000	76,434,000	58,922,000	48,951,000	72,804,000	66,891,000	54,495,000	45,866,000	67,443,000	56,414,000	50,291,000
short-term operating lease liabilities	26,297,000	26,180,000	26,481,000	148,000,000	151,000,000	153,000,000	151,000,000	145,000,000	147,000,000	147,000,000	147,000,000	147,000,000	145,000,000		146,000,000	146,000,000	144,000,000	141,000,000	139,000,000	138,000,000	134,000,000	129,000,000	125,000,000	124,000,000	121,000,000	116,000,000	115,000,000	112,000,000	110,000,000
current liabilities of discontinued operations	20,242,000	20,242,000	20,242,000
other current liabilities	38,855,000	41,322,000	39,786,000	127,000,000	123,000,000	138,000,000	132,000,000	149,000,000	148,000,000	170,000,000	155,000,000	268,000,000	295,000,000		300,000,000	240,000,000	189,000,000	124,000,000	104,000,000	98,000,000	96,000,000	101,000,000	76,000,000	86,000,000	78,000,000	100,000,000	90,000,000	85,000,000	92,000,000	114,000,000	93,000,000	98,000,000								108,634,000					99,023,000		114,915,000	115,759,000	116,567,000	122,877,000	335,535,000	117,875,000	121,725,000	125,710,000	138,086,000	75,669,000	71,936,000	71,130,000	61,086,000	60,701,000	82,407,000
total current liabilities	443,675,000	440,311,000	571,358,000	1,001,000,000	960,000,000	1,090,000,000	1,098,000,000	1,086,000,000	1,031,000,000	1,184,000,000	1,327,000,000	1,278,000,000	1,225,000,000		1,409,000,000	1,234,000,000	1,115,000,000	1,180,000,000	1,288,000,000	986,000,000	963,000,000	1,153,000,000	965,000,000	882,000,000	900,000,000	962,000,000	1,001,000,000	925,000,000	965,000,000	879,000,000	852,000,000
deferred liabilities and credits																																	12,000,000
deferred income tax liability	699,150,000	743,633,000	715,086,000	982,000,000	987,000,000	981,000,000	961,000,000	992,000,000	988,000,000	975,000,000	1,003,000,000	987,000,000	974,000,000		967,000,000	971,000,000	948,000,000	921,000,000	919,000,000	903,000,000	890,000,000	863,000,000	893,000,000	825,000,000	750,000,000	676,000,000	664,000,000	681,000,000	665,000,000	640,000,000	642,000,000	636,000,000																			209,074,000		439,070,000	345,548,000	236,397,000	226,435,000	44,669,000
long-term operating lease liabilities	548,420,000	549,617,000	555,101,000	867,000,000	867,000,000	867,000,000	862,000,000	873,000,000	883,000,000	890,000,000	896,000,000	900,000,000	900,000,000		926,000,000	940,000,000	951,000,000	960,000,000	947,000,000	951,000,000	941,000,000	940,000,000	938,000,000	938,000,000	929,000,000	931,000,000	931,000,000	927,000,000	929,000,000
other deferred liabilities and credits	584,484,000	574,025,000	576,947,000	815,000,000	807,000,000	809,000,000	812,000,000	786,000,000	780,000,000	784,000,000	819,000,000	820,000,000	813,000,000		867,000,000	879,000,000	770,000,000	759,000,000	750,000,000	538,000,000	558,000,000	541,000,000	530,000,000	515,000,000	491,000,000	481,000,000	475,000,000	450,000,000	446,000,000	541,000,000	542,000,000	523,000,000								363,291,000					371,698,000		383,507,000	373,900,000	148,814,000	149,726,000	157,195,000	154,148,000	138,734,000	152,365,000	136,733,000	116,939,000	107,532,000	112,328,000	104,984,000	240,165,000	231,595,000
long-term debt	672,700,000	823,364,000	825,312,000	4,030,000,000	4,042,000,000	4,051,000,000	4,097,000,000	4,103,000,000	4,164,000,000	4,080,000,000	3,840,000,000	3,872,000,000	4,040,000,000		3,608,000,000	3,463,000,000	3,567,000,000	2,928,000,000	2,804,000,000	3,335,000,000	3,991,000,000	3,424,000,000	2,970,000,000	2,487,000,000	2,365,000,000	2,316,000,000	2,405,000,000	2,409,000,000	2,414,000,000	2,418,000,000	2,422,000,000	2,427,000,000								1,528,350,000					1,492,666,000		1,619,341,000	1,619,403,000	1,631,627,000	1,635,147,000
commitments and contingencies
equity
tds shareholders’ equity
series a common and common shares
authorized 290,000 shares
issued 133,237 shares (7,542 series a common and 125,695 common shares) and 133,236 shares (7,541 series a common and 125,695 common shares), respectively
outstanding 113,850 shares (7,542 series a common and 106,308 common shares) and 113,783 shares (7,541 series a common and 106,242 common shares), respectively
par value	1,332,000	1,332,000	1,332,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000		1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000									1,270,000
capital in excess of par value	2,485,605,000	2,483,654,000	2,478,916,000	2,535,000,000	2,581,000,000	2,574,000,000	2,557,000,000	2,542,000,000	2,570,000,000	2,558,000,000	2,544,000,000	2,532,000,000	2,552,000,000		2,527,000,000	2,511,000,000	2,511,000,000	2,496,000,000	2,478,000,000	2,462,000,000	2,488,000,000	2,482,000,000	2,479,000,000	2,472,000,000	2,489,000,000	2,468,000,000	2,456,000,000	2,438,000,000	2,442,000,000	2,432,000,000	2,424,000,000									2,116,063,000					2,095,636,000		2,075,420,000	2,071,654,000	2,062,218,000	2,055,677,000	2,049,738,000	2,040,242,000	2,018,601,000	1,993,730,000	1,992,597,000	1,848,698,000	1,833,617,000	1,830,780,000	1,826,420,000
preferred shares, 279,000 shares authorized, par value 0.01 per share...	1,073,963,000	1,073,963,000	1,073,963,000
treasury shares, at cost, 19,387 and 19,453 common shares, respectively	-471,232,000
accumulated other comprehensive income	21,095,000	21,506,000	17,274,000	18,000,000	18,000,000	18,000,000	11,000,000	11,000,000	11,000,000	11,000,000	5,000,000	5,000,000	5,000,000		7,000,000	6,000,000	6,000,000	5,000,000																																9,546,000	9,180,000	405,841,000	508,668,000	386,748,000	522,113,000	309,321,000	249,694,000	322,710,000	309,009,000	324,324,000	333,945,000
retained earnings	1,813,519,000	1,694,224,000	1,301,051,000	1,765,000,000	1,818,000,000	1,849,000,000	1,865,000,000	1,957,000,000	2,008,000,000	2,023,000,000	2,567,000,000	2,606,000,000	2,658,000,000		2,763,000,000	2,810,000,000	2,824,000,000	2,812,000,000	2,819,000,000	2,812,000,000	2,830,000,000	2,802,000,000	2,809,000,000	2,751,000,000	2,718,000,000	2,672,000,000	2,680,000,000	2,684,000,000	2,683,000,000	2,656,000,000	2,683,000,000									2,619,055,000					2,399,321,000		2,346,702,000	2,288,917,000	2,413,804,000	2,324,814,000	2,250,716,000	1,773,646,000	1,572,921,000	1,620,173,000	1,428,570,000	1,848,969,000	1,823,527,000	1,661,808,000	1,632,682,000	1,581,966,000	1,541,640,000
total tds shareholders' equity	4,924,282,000		4,467,047,000	5,004,000,000	5,078,000,000		5,075,000,000	5,148,000,000	5,204,000,000		5,726,000,000	5,752,000,000	5,816,000,000		5,904,000,000	5,939,000,000	5,960,000,000		5,911,000,000	5,221,000,000	5,252,000,000		4,804,000,000	4,738,000,000	4,720,000,000		4,646,000,000	4,625,000,000	4,611,000,000		4,542,000,000
noncontrolling interests	338,616,000	465,746,000	817,928,000	811,000,000	774,000,000	777,000,000	798,000,000	834,000,000	800,000,000	794,000,000	791,000,000	785,000,000	759,000,000		786,000,000	804,000,000	801,000,000	807,000,000	817,000,000	836,000,000	802,000,000	789,000,000	785,000,000	765,000,000	729,000,000	751,000,000	747,000,000	768,000,000	746,000,000	733,000,000	708,000,000	688,000,000								649,412,000					671,913,000		673,210,000	656,907,000
total equity	5,262,898,000	5,267,353,000	5,284,975,000	5,815,000,000	5,852,000,000	5,868,000,000	5,873,000,000	5,982,000,000	6,004,000,000	5,996,000,000	6,517,000,000	6,537,000,000	6,575,000,000		6,690,000,000	6,743,000,000	6,761,000,000	6,734,000,000	6,728,000,000	6,057,000,000	6,054,000,000	5,593,000,000	5,589,000,000	5,503,000,000	5,449,000,000	5,404,000,000	5,393,000,000	5,393,000,000	5,357,000,000	5,293,000,000	5,250,000,000									4,629,405,000					4,472,616,000		4,487,992,000	4,479,081,000
total liabilities and equity1	8,211,327,000	8,398,303,000	8,532,378,000	13,526,000,000	13,536,000,000	13,682,000,000	13,726,000,000	13,872,000,000	13,866,000,000	13,921,000,000	14,414,000,000	14,406,000,000	14,539,000,000		14,479,000,000	14,242,000,000	14,124,000,000	13,493,000,000	13,446,000,000	12,780,000,000	13,407,000,000		11,895,000,000	11,161,000,000	10,895,000,000	10,781,000,000	10,881,000,000	10,795,000,000	10,787,000,000	9,783,000,000	9,719,000,000	9,498,000,000
customers, less allowances of 3,406 and 4,367, respectively		68,737,000
other, less allowances of 3,203 and 1,643, respectively		41,244,000
current assets of discontinued operations
non-current assets of discontinued operations
other intangible assets, net of accumulated amortization of 157,208 and 128,077, respectively		131,673,000
december 31,		2,025,000				2,024,000,000				2,023,000,000								2,021,000,000				2,020,000,000				2,019,000,000				2,018,000,000																									2,006,000
non-current liabilities of discontinued operations
noncontrolling interests with redemption features				16,000,000	16,000,000	16,000,000	16,000,000	16,000,000	16,000,000	12,000,000	12,000,000	12,000,000	12,000,000		12,000,000	12,000,000	12,000,000	11,000,000	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000	11,000,000	11,000,000	11,000,000	11,000,000	10,000,000	11,000,000	11,000,000	11,000,000	11,000,000								923,000					752,000			612,000
issued 133,236 shares (7,541 series a common and 125,695 common shares) and 133,229 shares (7,534 series a common and 125,695 common shares), respectively
outstanding 113,783 shares (7,541 series a common and 106,242 common shares) and 114,345 shares (7,534 series a common and 106,811 common shares), respectively
treasury shares, at cost, 19,453 and 18,884 common shares, respectively		-473,072,000
total tds shareholders’ equity		4,801,607,000				5,091,000,000				5,202,000,000								5,927,000,000				4,804,000,000				4,653,000,000				4,560,000,000										3,979,163,000					3,799,872,000
customers, less allowances of 3,382 and 4,367, respectively			59,313,000
other, less allowances of 3,184 and 1,643, respectively			38,424,000
current assets held for sale			1,633,000
other intangible assets, net of accumulated amortization of 149,925 and 128,077, respectively			138,956,000
property, plant and equipment			2,883,529,000	4,808,000,000	4,871,000,000	4,994,000,000	4,987,000,000	4,988,000,000	5,052,000,000	5,062,000,000	4,998,000,000	4,932,000,000	4,872,000,000		4,647,000,000	4,553,000,000	4,385,000,000	4,361,000,000	4,108,000,000	3,972,000,000	3,951,000,000	3,972,000,000	3,727,000,000	3,615,000,000	3,595,000,000	3,527,000,000	3,353,000,000	3,318,000,000	3,282,000,000	3,346,000,000	3,229,000,000		87,000,000
in service and under construction			7,009,334,000	14,468,000,000	14,357,000,000	14,363,000,000	14,409,000,000	14,224,000,000	14,452,000,000	15,612,000,000	15,497,000,000	15,322,000,000	15,183,000,000		14,928,000,000	14,723,000,000	14,423,000,000	14,265,000,000	14,060,000,000	13,857,000,000	13,742,000,000	13,659,000,000	13,375,000,000	13,160,000,000	13,103,000,000	12,864,000,000	12,522,000,000	12,348,000,000	12,189,000,000	12,074,000,000	11,873,000,000			11,581,000,000	11,307,122,000		10,628,583,000	10,482,936,000	10,341,851,000	9,918,395,000	9,675,106,000	9,501,879,000	9,144,869,000	9,006,920,000	8,860,837,000	8,581,669,000	8,447,510,000	8,344,353,000	8,497,768,000	8,348,380,000	8,174,705,000	8,055,003,000	7,937,533,000	7,786,558,000	7,700,746,000	7,568,197,000	7,441,768,000	7,262,283,000	7,140,447,000
less: accumulated depreciation and amortization			4,125,805,000	9,660,000,000	9,486,000,000	9,369,000,000	9,422,000,000	9,236,000,000	9,400,000,000	10,550,000,000	10,499,000,000	10,390,000,000	10,311,000,000		10,281,000,000	10,170,000,000	10,038,000,000	9,904,000,000	9,952,000,000	9,885,000,000	9,791,000,000	9,687,000,000	9,648,000,000	9,545,000,000	9,508,000,000	9,337,000,000	9,169,000,000	9,030,000,000	8,907,000,000	8,728,000,000	8,644,000,000			7,902,000,000
current liabilities held for sale			1,228,000
non-current liabilities held for sale			3,599,000
issued 133,235 shares (7,540 series a common and 125,695 common shares) and 133,229 shares (7,534 series a common and 125,695 common shares), respectively
outstanding 115,544 shares (7,540 series a common and 108,004 common shares) and 114,345 shares (7,534 series a common and 106,811 common shares), respectively
treasury shares, at cost, 17,691 and 18,884 common shares, respectively			-405,489,000
customers and agents, less allowances of 58 and 68, respectively				920,000,000
other, less allowances of 2 and 2, respectively				86,000,000	83,000,000										111,000,000	99,000,000		93,000,000			119,000,000	108,000,000	107,000,000	106,000,000	90,000,000	119,000,000	127,000,000	113,000,000	99,000,000	107,000,000	128,000,000
other intangible assets, net of accumulated amortization of 143 and 128, respectively				146,000,000
authorized 290 shares
issued 133 shares
outstanding 115 shares (7 series a common and 108 common shares) and 114 shares (7 series a common and 107 common shares), respectively
preferred shares, 0.279 shares authorized, par value 0.01 per share...				1,074,000,000	1,074,000,000	1,074,000,000	1,074,000,000	1,074,000,000	1,074,000,000	1,074,000,000	1,074,000,000	1,074,000,000	1,074,000,000		1,074,000,000	1,074,000,000	1,074,000,000
treasury shares, at cost, 18 and 19 common shares, respectively				-389,000,000	-414,000,000													-461,000,000	-459,000,000	-458,000,000						-479,000,000	-481,000,000	-488,000,000
customers and agents, less allowances of 61 and 68, respectively					921,000,000
assets held for sale					14,000,000		17,000,000	120,000,000		15,000,000	16,000,000	16,000,000	18,000,000		29,000,000	17,000,000	15,000,000	18,000,000	3,000,000	3,000,000	1,000,000	2,000,000	19,000,000				9,000,000			54,000,000	42,000,000			26,000,000	9,018,000					60,829,000	53,910,000
other intangible assets, net of accumulated amortization of 135 and 128, respectively					154,000,000
liabilities held for sale					5,000,000		7,000,000	34,000,000														1,000,000					1,000,000			1,000,000										858,000
outstanding 114 shares
customers and agents, less allowances of 68 and 70, respectively						962,000,000
other, less allowances of 2 and 4, respectively						79,000,000	68,000,000	86,000,000
other intangible assets, net of accumulated amortization of 128 and 106, respectively						161,000,000
outstanding 114 shares (7 series a common and 107 common shares) and 113 shares (7 series a common and 106 common shares), respectively
treasury shares, at cost, 19 and 20 common shares, respectively						-425,000,000	-433,000,000	-437,000,000
customers and agents, less allowances of 64 and 70, respectively							929,000,000
other intangible assets, net of accumulated amortization of 121 and 106, respectively							168,000,000
outstanding 113 shares
customers and agents, less allowances of 66 and 70, respectively								951,000,000	955,000,000
other intangible assets, net of accumulated amortization of 116 and 106, respectively								173,000,000
other, less allowances of 3 and 4, respectively									81,000,000
other intangible assets, net of accumulated amortization of 111 and 106, respectively									178,000,000
treasury shares, at cost, 20 common shares									-460,000,000
customers and agents, less allowances of 70 and 74, respectively										992,000,000		1,014,000,000
other, less allowances of 4 and 3, respectively										82,000,000
goodwill											547,000,000	547,000,000	547,000,000		547,000,000	547,000,000	547,000,000	547,000,000	547,000,000	547,000,000	547,000,000	547,000,000	547,000,000	547,000,000	547,000,000	547,000,000	509,000,000	509,000,000	509,000,000	509,000,000	509,000,000			766,000,000	765,773,000		816,668,000	816,668,000	796,819,000	797,084,000	728,455,000	728,455,000	718,635,000	718,635,000	713,013,000	707,840,000	707,840,000	707,840,000	695,870,000	695,696,000	684,164,000	673,628,000	667,822,000	653,671,000	647,853,000	886,418,000	874,100,000	870,110,000	869,792,000	840,873,000	823,399,000
other intangible assets, net of accumulated amortization of 106 and 112, respectively										183,000,000
outstanding 113 shares (7 series a common and 106 common shares) and 112 shares (7 series a common and 105 common shares), respectively
treasury shares, at cost, 20 and 21 common shares, respectively										-465,000,000	-465,000,000	-466,000,000
customers and agents, less allowances of 66 and 74, respectively											988,000,000
other, less allowances of 3 and 3, respectively											93,000,000	93,000,000	95,000,000
other intangible assets, net of accumulated amortization of 111 and 112, respectively											188,000,000
other intangible assets, net of accumulated amortization of 123 and 112, respectively												193,000,000
customers and agents, less allowances of 72 and 74, respectively													1,036,000,000
other intangible assets, net of accumulated amortization of 117 and 112, respectively													199,000,000
treasury shares, at cost, 21 common shares													-474,000,000
operating revenues
service														4,240,000,000
equipment and product sales														1,173,000,000
total operating revenues														5,413,000,000
operating expenses
cost of services														1,245,000,000
cost of equipment and products														1,320,000,000
selling, general and administrative														1,768,000,000
depreciation, amortization and accretion														929,000,000
loss on impairment of licenses														3,000,000
(gain) loss on asset disposals														27,000,000
(gain) loss on sale of business and other exit costs														-1,000,000
(gain) loss on license sales and exchanges
total operating expenses														5,291,000,000
operating income														122,000,000
investment and other income
equity in earnings of unconsolidated entities														159,000,000
interest and dividend income														17,000,000
gain on investments
interest expense														-174,000,000
other														1,000,000
total investment and other income														3,000,000
income before income taxes														125,000,000
income tax expense														53,000,000
net income														72,000,000																						1,298,672,000
less: net income attributable to noncontrolling interests, net of tax														10,000,000
net income attributable to tds shareholders														62,000,000
tds preferred share dividends														69,000,000
net income attributable to tds common shareholders														-7,000,000
basic weighted-average shares outstanding														114,000,000
basic earnings per share attributable to tds common shareholders														-70,000
diluted weighted-average shares outstanding														114,000,000
diluted earnings per share attributable to tds common shareholders														-70,000
customers and agents, less allowances of 70 and 60, respectively															1,070,000,000
other intangible assets, net of accumulated amortization of 106 and 91, respectively															210,000,000
outstanding 114 shares (7 series a common and 107 common shares) and 115 shares (7 series a common and 108 common shares), respectively
treasury shares, at cost, 19 and 18 common shares, respectively															-468,000,000	-463,000,000						-477,000,000	-478,000,000	-479,000,000
customers and agents, less allowances of 63 and 60, respectively																1,055,000,000	1,046,000,000
other intangible assets, net of accumulated amortization of 100 and 91, respectively																208,000,000
other, less allowances of 1 and 2, respectively																	77,000,000
other intangible assets, net of accumulated amortization of 95 and 91, respectively																	199,000,000
outstanding 115 shares
treasury shares, at cost, 18 common shares																	-456,000,000								-480,000,000
short-term investments																					3,000,000	3,000,000						18,000,000	17,000,000	17,000,000							180,578,000	150,921,000	229,975,000	249,816,000	270,896,000	299,518,000	389,052,000	379,227,000	148,364,000	136,400,000	136,495,000	53,688,000
customers and agents, less allowances of 60 and 67, respectively																		1,058,000,000			978,000,000
other intangible assets, net of accumulated amortization of 91 and 71, respectively																		197,000,000
preferred shares, .279 shares authorized, par value 0.01 per share...																		1,074,000,000
customers and agents, less allowances of 59 and 67, respectively																			994,000,000	976,000,000
other, less allowances of 3 and 2, respectively																			89,000,000	96,000,000
other intangible assets, net of accumulated amortization of 86 and 71, respectively																			202,000,000
preferred shares, par value 0.01 per share...																			1,074,000,000	406,000,000	408,000,000
accumulated other comprehensive loss																			-2,000,000	-2,000,000	-3,000,000	-4,000,000	-7,000,000	-7,000,000	-8,000,000	-9,000,000	-10,000,000	-10,000,000	-10,000,000	-10,000,000	-3,000,000
other intangible assets, net of accumulated amortization of 81 and 71, respectively																				207,000,000
other intangible assets, net of accumulated amortization of 75 and 71, respectively																					213,000,000
treasury shares, at cost, 19 common shares																					-472,000,000								-505,000,000
customers and agents, less allowances of 67 and 74, respectively																						1,004,000,000
other intangible assets, net of accumulated amortization of 71 and 65, respectively1																						213,000,000
total assets2																						12,525,000,000
total liabilities and equity2																						12,525,000,000
customers and agents, less allowances of 69 and 74, respectively																							949,000,000
other intangible assets, net of accumulated amortization of 183 and 167, respectively																							219,000,000
customers and agents, less allowances of 76 and 74, respectively																								958,000,000
other intangible assets, net of accumulated amortization of 176 and 167, respectively																								226,000,000
customers and agents, less allowances of 81 and 74, respectively																									962,000,000
other intangible assets, net of accumulated amortization of 173 and 167, respectively																									232,000,000
customers and agents, less allowances of 74 and 71, respectively																										1,005,000,000
other intangible assets, net of accumulated amortization of 167 and 168, respectively																										239,000,000
customers and agents, less allowances of 73 and 71, respectively																											989,000,000
other intangible assets, net of accumulated amortization of 161 and 168, respectively																											235,000,000
customers and agents, less allowances of 70 and 71, respectively																												969,000,000	968,000,000
other intangible assets, net of accumulated amortization of 180 and 168, respectively																												241,000,000
other intangible assets, net of accumulated amortization of 174 and 168, respectively																													247,000,000
customers and agents, less allowances of 71 and 61, respectively																														992,000,000
other intangible assets, net of accumulated amortization of 168 and 142, respectively																														253,000,000
outstanding 114 shares (7 series a common and 107 common shares) and 111 shares (7 series a common and 104 common shares), respectively
treasury shares, at cost, 19 and 22 common shares, respectively																														-519,000,000
customers and agents, less allowances of 68 and 61, respectively																															930,000,000
other intangible assets, net of accumulated amortization of 161 and 142, respectively																															260,000,000
outstanding 113 shares (7 series a common and 106 common shares) and 111 shares (7 series a common and 104 common shares), respectively
treasury shares, at cost, 20 and 22 common shares, respectively																															-563,000,000
the accompanying notes are an integral part of these consolidated financial statements.
1
assets
liabilities
nine months ended september 30,																																	2,016,000,000
transfers to noncontrolling interests
change in tds' capital in excess of par value from u.s. cellular's issuance of u.s. cellular shares
change in tds' capital in excess of par value from u.s. cellular's repurchases of u.s. cellular shares
purchase of ownership in subsidiaries from noncontrolling interests
net transfers to noncontrolling interests
change from net income attributable to tds and transfers to noncontrolling interests
franchise rights																																		244,000,000	244,300,000
other intangible assets, net of accumulated amortization of 148 and 144, respectively																																		43,000,000
net deferred income tax asset																																			98,343,000		46,809,000	44,598,000	40,898,000	37,132,000	47,970,000	37,079,000	29,948,000	29,948,000	29,948,000	27,758,000	27,758,000	27,758,000	27,784,000	22,502,000
investments
other intangible assets, net of accumulated amortization of 143,286 and 133,823,
other investments																																			445,000		886,000	1,017,000	1,096,000	5,189,000	8,701,000	8,850,000	9,123,000	9,447,000	9,627,000	9,996,000	10,177,000	10,385,000	10,791,000	11,032,000	11,279,000				3,157,000				4,190,000
less: accumulated depreciation																																			7,600,435,000		6,725,100,000	6,629,649,000	6,518,118,000	6,291,132,000	6,157,168,000	6,004,370,000	5,699,710,000	5,544,179,000	5,385,182,000	5,108,800,000	4,944,900,000	4,788,280,000
total assets																																			9,317,358,000		8,390,816,000	8,283,731,000	8,172,668,000	8,162,560,000	7,920,908,000	8,071,301,000	7,693,831,000	7,610,428,000	7,601,771,000	7,733,175,000	7,657,732,000	7,654,179,000	8,158,346,000	8,281,486,000	9,238,413,000									10,412,115,000	10,448,734,000
cash flows from operating activities:
adjustments to reconcile net income to net cash from operating activities:
cash flows from investing activities:
capital expenditures																																				-487,511,000
fixed asset transfers out																																				27,816,000
change in due from affiliate																																				111,521,000
cash flows from financing activities:
distributions to partners																																				-1,100,000,000
change in cash
cash—beginning of year
cash—end of year
noncash transactions from investing activities:
accruals for capital expenditures																																				31,019,000
see notes to financial statements.
general partner
limited partners:
other intangible assets, net of accumulated amortization of 140,262 and 131,101, respectively																																					61,873,000
long-term investments																																					10,171,000	55,468,000	50,333,000	85,676,000	90,900,000	81,570,000	121,441,000	107,506,000
telephone and data systems, inc. consolidated balance sheet - liabilities and equity
net deferred income tax liability																																								771,049,000					506,453,000		485,290,000	477,490,000		595,420,000	570,747,000	348,749,000	640,789,000	811,127,000	950,348,000	995,808,000	1,244,331,000	1,378,914,000	1,383,031,000	1,417,552,000	1,420,201,000
tds shareholders' equity
preferred shares																																								830,000					831,000			852,000	854,000	860,000	860,000	860,000	860,000	860,000	863,000	3,863,000	3,863,000	3,863,000	3,863,000	3,863,000	3,864,000
total liabilities and equity																																								8,162,560,000					7,601,771,000		7,657,732,000	7,654,179,000
other intangible assets, net of accumulated amortization of 136,851 and 131,101, respectively																																						65,285,000
investments - sum																																						2,658,934,000
telephone and data systems, inc.
consolidated balance sheet — liabilities and equity
other intangible assets, net of accumulated amortization of 133,984 and 131,101, respectively																																							47,851,000
due from customers and agents, less allowances of 25,667 and 28,859, respectively																																								363,658,000
other, less allowances of 6,249 and 6,148, respectively																																								172,471,000
other intangible assets, net of accumulated amortization of 127,544 and 119,555, respectively																																								54,291,000
series a common, special common and common shares
issued 127,073 shares (6,538 series a common, 63,442 special common and 57,093 common shares) and 127,045 shares (6,510 series a common, 63,442 special common and 57,093 common shares), respectively
outstanding 103,387 shares (6,538 series a common, 46,886 special common and 49,963 common shares) and 103,936 shares (6,510 series a common, 47,531 special common and 49,895 common shares), respectively
special common and common treasury shares at cost:
treasury shares 23,686 (16,556 special common and 7,130 common shares) and 23,109 (15,911 special common and 7,198 common shares), respectively
other intangible assets, net of accumulated amortization of 124,025 and 119,555, respectively																																									26,316,000
restricted cash - redemption of 7.6% series a notes																																										282,500,000
prepaid income taxes																																										21,026,000	50,865,000
other intangible assets, net of accumulated amortization of 121,730 and 119,555, respectively																																										28,611,000
other intangible assets, net of accumulated amortization of 117,510 and 108,944, respectively																																											25,924,000
other intangible assets, net of accumulated amortization of 114,740 and 108,944, respectively																																												28,693,000
due from customers, less allowances of 28,220 and 30,422, respectively																																													348,090,000
other, principally connecting companies, less allowances of 6,208 and 7,201, respectively																																													138,688,000
other intangible assets, net of accumulated amortization of 111,611 and 108,944, respectively																																													31,823,000
common shares, par value .01 per share; authorized 100,000 shares; issued 57,082 shares																																													571,000
special common shares, par value .01 per share; authorized 165,000 shares; issued 63,442 shares																																													634,000
series a common shares, par value .01 per share; authorized 25,000 shares; issued and outstanding 6,498 and 6,492 shares, respectively																																													65,000
treasury shares at cost:
common shares, 7,258 and 7,277 shares, respectively
special common shares, 14,187 and 13,717 shares, respectively
customer lists, net of accumulated amortization of 106,347 and 97,891, respectively																																														25,577,000
consolidated balance sheet — liabilities and stockholders’ equity
noncontrolling interests with mandatory redemption features																																															640,000
tds stockholders’ equity
due from customers, less allowances of 12,250 and 12,822, respectively																																															390,211,000
other, principally connecting companies, less allowances of 5,935 and 6,380, respectively																																															151,017,000
customer lists, net of accumulated amortization of 103,734 and 97,891, respectively																																															28,189,000
common shares, par value .01 per share; authorized 100,000,000 shares; issued 57,082,000 shares																																															571,000
special common shares, par value .01 per share; authorized 165,000,000 shares; issued 63,442,000 shares																																															634,000
series a common shares, par value .01 per share; authorized 25,000,000 shares; issued and outstanding 6,477,000 and 6,461,000 shares, respectively																																															65,000
common shares, 5,430,000 and 5,435,000 shares, respectively
special common shares, 12,483,000 and 9,352,000 shares, respectively
total tds stockholders’ equity																																															3,813,930,000	3,822,174,000
nonredeemable preferred shares																																															852,000
due from customers, less allowances of 11,981 and 12,822, respectively																																																367,008,000
other, principally connecting companies, less allowances of 5,394 and 6,380, respectively																																																135,885,000
customer lists, net of accumulated amortization of 100,946 and 97,891, respectively																																																30,978,000
common shares, par value .01 per share; authorized 100,000,000 shares; issued 57,082,000 and 57,082,000 shares, respectively																																																571,000
special common shares, par value .01 per share; authorized 165,000,000 shares; issued 63,442,000 and 63,442,000 shares, respectively																																																634,000
series a common shares, par value .01 per share; authorized 25,000,000 shares; issued and outstanding 6,469,000 and 6,461,000 shares, respectively																																																65,000
common shares, 5,432,000 and 5,435,000 shares, respectively
special common shares, 9,819,000 and 9,352,000 shares, respectively
due from customers, less allowances of 12,501 and 16,326, respectively																																																	382,749,000
other, principally connecting companies, less allowances of 4,521 and 5,297, respectively																																																	160,422,000
marketable equity securities																																																		32,020,000	969,311,000	1,802,076,000	2,175,667,000	1,611,464,000	1,205,344,000	975,957,000	272,938,000	2,559,507,000	2,531,690,000	2,797,224,000	2,821,208,000
customer lists, net of accumulated amortization of 94,687 and 84,190, respectively																																																	27,736,000
less accumulated depreciation																																																	5,003,653,000	4,863,167,000	4,692,065,000	4,559,975,000	4,409,179,000	4,254,252,000	4,119,360,000	4,021,844,000	3,924,149,000	3,768,618,000	3,614,242,000
forward contracts																																																			669,226,000	1,042,067,000	1,342,807,000	1,079,627,000	738,408,000	696,973,000	179,832,000	1,711,813,000	1,707,282,000	1,702,800,000	1,698,366,000
derivative liability																																																			156,081,000	561,069,000	653,334,000	358,193,000	359,970,000	188,171,000	50,828,000	454,049,000	449,192,000	686,327,000	699,348,000
asset retirement obligation																																																	194,810,000	182,495,000	177,527,000	167,754,000	243,561,000	237,171,000	232,312,000	219,546,000	173,779,000	167,645,000	163,093,000
minority interest																																																	694,561,000	679,938,000	665,701,000
common stockholders’ equity
common shares, par value .01 per share; authorized 100,000,000 shares; issued 56,593,000 and 56,581,000 shares, respectively																																																	566,000
special common shares, par value .01 per share; authorized 165,000,000 shares; issued 62,954,000 and 62,946,000 shares, respectively																																																	630,000
series a common shares, par value .01 per share; authorized 25,000,000 shares; issued and outstanding 6,458,000 and 6,442,000 shares, respectively																																																	65,000
common shares, 3,396,000 and 3,433,000 shares, respectively
special common shares, 7,497,000 and 4,712,000 shares, respectively
total liabilities and stockholders’ equity																																																	8,158,346,000	8,281,486,000	9,238,413,000									10,412,115,000
due from customers, less allowances of 13,015 and 16,326, respectively																																																		386,661,000
other, principally connecting companies, less allowances of 5,297 and 5,297, respectively																																																		156,003,000
customer lists, net of accumulated amortization of 91,180 and 84,190, respectively																																																		29,069,000
notes payable																																																		50,000,000				60,000,000	35,000,000	150,000,000	105,000,000	85,000,000	135,000,000		50,000,000
common shares, par value .01 per share; authorized 100,000,000 shares; issued 56,592,000 and 56,581,000 shares, respectively																																																		566,000
special common shares, par value .01 per share; authorized 165,000,000 shares; issued 62,951,000 and 62,946,000 shares, respectively																																																		630,000
series a common shares, par value .01 per share; authorized 25,000,000 shares; issued and outstanding 6,452,000 and 6,442,000 shares, respectively																																																		65,000
common shares, 3,398,000 and 3,433,000 shares, respectively
special common shares, 6,702,000 and 4,712,000 shares, respectively
due from customers, less allowances of 15,104 and 16,326, respectively																																																			368,337,000
other, principally connecting companies, less allowances of 5,670 and 5,297, respectively																																																			141,044,000
customer lists, net of accumulated amortization of 85,947 and 82,243, respectively																																																			25,794,000
long-term debt, excluding current portion																																																			1,635,373,000	1,634,098,000	1,634,765,000	1,632,977,000	1,633,308,000	1,631,905,000	1,632,577,000	1,633,268,000	1,633,519,000	1,669,347,000	1,869,928,000
common shares, par value .01 per share; authorized 100,000,000 shares; issued 56,581,000 and 56,581,000 shares, respectively																																																			566,000
special common shares, par value .01 per share; authorized 165,000,000 shares; issued 62,946,000 and 62,946,000 shares, respectively																																																			629,000
series a common shares, par value .01 per share; authorized 25,000,000 shares; issued and outstanding 6,442,000 and 6,442,000 shares, respectively																																																			64,000
common shares, 3,416,000 and 3,433,000 shares, respectively
special common shares, 5,711,000 and 4,712,000 shares, respectively
due from customers, less allowance of 16,087 and 15,807, respectively																																																				383,541,000
other, principally connecting companies, less allowance of 6,939 and 9,576, respectively																																																				161,173,000
customer lists, net of accumulated amortization of 78,743 and 68,110, respectively																																																				26,939,000
other investments, less valuation allowance of 55,144 in both periods																																																				10,948,000	11,077,000	10,928,000		11,528,000	11,760,000	12,044,000		22,387,000
minority interest in subsidiaries																																																				652,371,000	640,542,000	631,372,000	609,722,000	577,175,000	573,041,000	561,711,000	552,884,000	547,539,000	527,185,000
common shares, par value .01 per share; authorized 100,000,000 shares; issued 56,570,000 and 56,558,000 shares, respectively																																																				566,000
special common shares, par value .01 per share; authorized 165,000,000 shares, issued 62,947,000 and 62,941,000 shares, respectively																																																				629,000
series a common shares, par value .01 per share; authorized 25,000,000 shares; issued and outstanding 6,445,000 and 6,445,000 shares; respectively																																																				64,000
treasury shares, at cost:
common shares, 3,577,000 and 4,676,000 shares, respectively
special common shares 4,309,000 and 4,676,000 shares, respectively
due from customers, less allowance of 13,444 and 15,807, respectively																																																					368,619,000
other, principally connecting companies, less allowance of 8,386 and 9,576, respectively																																																					164,548,000
customer lists, net of accumulated amortization of 75,491 and 68,110, respectively																																																					29,759,000
common shares, par value .01 per share; authorized 100,000,000 shares; issued 56,560,000 and 56,558,000 shares, respectively																																																					566,000
special common shares, par value .01 per share; authorized 165,000,000 shares, issued 62,941,000 and 62,941,000 shares, respectively																																																					629,000
series a common shares, par value .01 per share; authorized 25,000,000 shares; issued and outstanding 6,443,000 and 6,445,000 shares; respectively																																																					64,000
common shares, 3,960,000 and 4,676,000 shares, respectively
special common shares 3,612,000 and 4,676,000 shares, respectively
due from customers, less allowance of 12,932 and 15,807, respectively																																																						341,331,000
other, principally connecting companies, less allowance of 8,332 and 9,576, respectively																																																						146,418,000
customer lists, net of accumulated amortization of 71,883 and 68,110, respectively																																																						23,983,000
commitment and contingencies
common shares, par value .01 per share; authorized 100,000,000 shares; issued 56,559,000 and 56,558,000 shares, respectively																																																						566,000
special common shares, par value .01 per share; authorized 165,000,000 shares; issued 62,941,000 and 62,941,000 shares, respectively																																																						629,000
series a common shares, par value .01 per share; authorized 25,000,000 shares; issued and outstanding 6,444,000 and 6,445,000 shares, respectively																																																						64,000
common shares, 4,621,000 and 4,676,000 shares, respectively
special common shares 4,539,000 and 4,676,000 shares, respectively
due from customers, less allowance of 15,807 and 15,200, respectively																																																							357,279,000
other, principally connecting companies, less allowance of 9,576 and 5,620, respectively																																																							162,888,000
deferred income tax asset																																																										13,434,000	13,438,000	18,599,000	20,601,000
customer lists, net of accumulated amortization of 68,110 and 44,616, respectively																																																							26,196,000
notes receivable, less valuation allowance of 55,144 and 55,144, respectively																																																							7,916,000				8,084,000
common shares, par value .01 per share; authorized 100,000,000 shares; issued 56,558,000 and 56,481,000 shares, respectively																																																							566,000
special common shares, par value .01 per share; authorized 165,000,000 shares; issued 62,941,000 and 62,868,000 shares, respectively																																																							629,000
series a common shares, par value .01 per share; authorized 25,000,000 shares; issued and outstanding 6,445,000 and 6,440,000 shares, respectively																																																							64,000
common shares, 4,676,000 and 5,105,000 shares, respectively
special common shares 4,676,000 and 5,128,000 shares, respectively
due from customers, less allowance of 17,273 and 15,200, respectively																																																								346,868,000
other, principally connecting companies, less allowance of 7,490 and 5,620, respectively																																																								160,541,000
materials and supplies																																																								89,269,000	93,922,000		103,211,000
customer lists, net of accumulated amortization of 62,259 and 44,616, respectively																																																								32,048,000
common shares, par value .01 per share; authorized 100,000,000 shares; issued 56,504,000 and 56,481,000 shares, respectively																																																								565,000
special common shares, par value .01 per share; authorized 165,000,000 shares, issued 62,887,000 and 62,868,000 shares, respectively																																																								629,000	629,000	629,000
series a common shares, par value .01 per share; authorized 25,000,000 shares; issued and outstanding 6,445,000 and 6,440,000 shares; respectively																																																								64,000
common shares, 5,071,000 and 5,105,000 shares, respectively
special common shares 5,105,000 and 5,128,000 shares, respectively
due from customers, less allowance of 14,033 and 15,200, respectively																																																									343,353,000
other, principally connecting companies, less allowance of 7,831 and 5,620, respectively																																																									166,979,000
customer lists, net of accumulated amortization of 49,190 and 42,947, respectively,																																																									45,117,000
common shares, par value .01 per share; authorized 100,000,000 shares; issued 56,503,000 and 56,481,000 shares, respectively																																																									565,000
series a common shares, par value .01 per share; authorized 25,000,000 shares; issued and outstanding 6,446,000 and 6,440,000 shares; respectively																																																									64,000	64,000
due from customers, less allowance of 11,805 and 15,200, respectively																																																										332,811,000
other, principally connecting companies, less allowance of 6,806 and 5,620, respectively																																																										145,437,000
materials and supplies, at average cost																																																										96,359,000		66,132,000	67,184,000
customer lists, net of accumulated amortization of 45,979 and 42,947, respectively																																																										46,286,000
common shares, par value .01 per share; authorized 100,000,000 shares; issued 56,502,000 and 56,481,000 shares, respectively																																																										565,000
due from customers, less allowance of 15,200 and 14,317, respectively																																																											336,005,000
other, principally connecting companies, less allowance of 5,620 and 3,170, respectively																																																											160,577,000
customer lists, net of accumulated amortization of 42,947 and 34,630, respectively																																																											49,318,000
common shares, par value .01 per share; authorized 100,000,000 shares; issued 56,481,000 and 56,377,000 shares, respectively																																																											565,000
special common shares, par value .01 per share; authorized 165,000,000 shares; issued 62,868,000 and 0 shares, respectively																																																											629,000
series a common shares, par value .01 per share; authorized 25,000,000 shares; issued and outstanding 6,440,000 and 6,421,000 shares, respectively																																																											64,000
common shares, 5,105,000 and 5,362,000 shares, respectively
special common shares 5,128,000 and 0 shares, respectively
due from customers, less allowance of 14,023 and 14,317, respectively																																																												308,963,000
other, principally connecting companies, less allowance of 4,829 and 3,170, respectively																																																												143,189,000
customer lists, net of accumulated amortization of 41,289 and 34,630, respectively																																																												18,876,000
u.s. cellular																																																												2,421,407,000	2,450,296,000
tds telecom																																																												909,741,000	915,965,000
corporate and other																																																												31,553,000
assets of operations held for sale																																																												66,644,000
accrued interest other																																																												32,703,000
liabilities of operations held for sale																																																												5,585,000
common shares, par value .01 per share; authorized 100,000,000 shares; issued 56,455,000 and 56,377,000 shares, respectively																																																												565,000
special common shares, par value .01 per share; authorized 165,000,000 shares; issued 62,865,000 shares and 0 shares, respectively																																																												629,000
series a common shares, par value .01 per share; authorized 25,000,000 shares; issued and outstanding 6,434,000 and 6,421,000 shares; respectively																																																												64,000
additional paid-in capital																																																												1,815,886,000	1,819,953,000
common shares, 5,128,000 and 5,362,000 shares, respectively
special common shares, 5,138,000 and 0 shares, respectively
due from customers, less allowance of 12,631 and
21,773, respectively																																																													312,362,000
other, principally connecting companies, less
allowance of 4,236 and 3,170, respectively																																																													137,261,000
customer lists, net of accumulated amortization of
39,214 and 34,630, respectively																																																													20,952,000
other investments, less valuation allowance
of 55,144 in both periods																																																													22,710,000
current liabilities - sum																																																													732,218,000
deferred liabilities and credits - sum																																																													2,351,144,000
long-term debt - sum																																																													3,568,294,000
common stockholders' equity
common shares, par value .01 per share; authorized
100,000,000 shares; issued 56,430,000
and 56,377,000 shares, respectively																																																													564,000
special common shares, par value .01 per share;
authorized 165,000,000 shares; issued
63,343,000 shares and 0 shares, respectively																																																													633,000
series a common shares, par value .01 per share; authorized
25,000,000 shares; issued and outstanding 6,429,000
and 6,425,000 shares; respectively																																																													64,000
common shares, 5,210,000 and 5,362,000 shares, respectively																																																													-215,385,000
special common shares, 5,210,000 and 0 shares, respectively																																																													-215,385,000
total liabilities and stockholders' equity																																																													10,448,734,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-09-30	2017-06-30	2017-03-31	2016-09-30	2016-06-30	2016-03-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-09-30	2013-06-30	2013-03-31	2012-09-30	2012-06-30	2012-03-31	2011-09-30	2011-06-30	2011-03-31	2010-09-30	2010-06-30	2010-03-31	2009-09-30	2009-06-30	2009-03-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30

cash flows from operating activities
net income	177,038,000	63,610,000	-73,368,000	18,000,000	12,000,000	8,000,000	-79,000,000	7,000,000	38,000,000	-503,000,000	4,000,000	0	12,000,000	-29,000,000	-10,000,000	39,000,000	72,000,000	36,000,000	47,000,000	34,000,000	71,000,000	15,000,000	93,000,000	78,000,000	83,000,000	15,000,000	23,000,000	39,000,000	70,000,000	20,000,000	54,000,000	44,000,000	57,000,000	-231,000,000	12,000,000	43,000,000	16,000,000	32,000,000	10,000,000	62,395,000	26,500,000	175,801,000	1,425,303,000	-121,199,000	-25,726,000	20,294,000	-11,054,000	178,397,000	6,989,000	40,158,000	55,939,000	67,566,000	91,333,000	108,678,000	52,244,000	52,583,000	51,532,000	63,126,000	47,265,000	90,559,000	93,374,000	101,223,000	87,757,000	73,487,000	846,166,000	231,737,000	-8,627,000	219,325,000	853,521,000	65,653,000	172,467,000	39,875,000	60,873,000	41,765,000
net income from discontinued operations	-2,389,000	1,246,000
net income from continuing operations	179,427,000	62,364,000
add (deduct) adjustments to reconcile net income to net cash flows from operating activities
depreciation, amortization and accretion	85,943,000	89,790,000	-209,905,000	238,000,000	234,000,000	239,000,000	237,000,000	233,000,000	234,000,000	234,000,000	225,000,000	224,000,000	232,000,000	238,000,000	235,000,000	227,000,000	229,000,000	225,000,000	213,000,000	233,000,000	224,000,000	224,000,000	215,000,000	235,000,000	235,000,000	235,000,000	237,000,000	233,000,000	227,000,000	221,000,000																												189,389,000		183,349,000	182,766,000	187,975,000	188,026,000	186,158,000		191,695,000	190,528,000	191,310,000		188,046,000	179,985,000	182,667,000	171,532,000	169,523,000
bad debts expense	3,383,000	2,221,000	-39,049,000	24,000,000	21,000,000	34,000,000	21,000,000	20,000,000	31,000,000	34,000,000	24,000,000	26,000,000	27,000,000	40,000,000	44,000,000	28,000,000	26,000,000	24,000,000	14,000,000	14,000,000	8,000,000	22,000,000	7,000,000	14,000,000	34,000,000	32,000,000	30,000,000	25,000,000	25,000,000	30,000,000																												20,245,000		22,458,000	20,303,000	22,646,000	16,401,000	20,405,000		24,140,000	14,736,000	12,255,000		23,283,000	17,390,000	9,075,000	15,565,000
stock-based compensation expense	4,159,000	4,838,000	-21,664,000	16,000,000	28,000,000	23,000,000	19,000,000	15,000,000	14,000,000	14,000,000	13,000,000	11,000,000	3,000,000	10,000,000	9,000,000	11,000,000	12,000,000	14,000,000	11,000,000	14,000,000	10,000,000	14,000,000	14,000,000	14,000,000	11,000,000	12,000,000	14,000,000	20,000,000	13,000,000	17,000,000																												7,444,000		8,838,000	5,556,000	6,939,000	5,906,000	3,116,000		12,067,000	6,228,000	4,651,000		14,628,000
deferred income taxes	-38,825,000	14,296,000	-82,486,000	-5,000,000	7,000,000	18,000,000	-31,000,000	2,000,000	14,000,000	-30,000,000	16,000,000	13,000,000	9,000,000	-1,000,000	-4,000,000	23,000,000	29,000,000	-3,000,000	15,000,000	13,000,000	27,000,000	-27,000,000	67,000,000	75,000,000	75,000,000	11,000,000	-17,000,000	15,000,000	25,000,000	2,000,000																														11,303,000	4,934,000							81,841,000
equity in earnings of unconsolidated entities	-41,902,000	-26,792,000	-70,309,000	-42,000,000	-37,000,000	-39,000,000	-43,000,000	-40,000,000	-42,000,000	-37,000,000	-40,000,000	-38,000,000	-44,000,000	-36,000,000	-40,000,000	-38,000,000	-45,000,000	-44,000,000	-48,000,000	-48,000,000	-42,000,000	-43,000,000	-48,000,000	-45,000,000	-45,000,000	-39,000,000	-44,000,000	-41,000,000	-44,000,000	-39,000,000
distributions from unconsolidated entities	18,373,000	65,867,000	61,732,000	77,000,000	11,000,000	63,000,000	26,000,000	58,000,000	22,000,000	53,000,000	19,000,000	58,000,000	20,000,000	45,000,000	20,000,000	61,000,000	19,000,000	73,000,000	27,000,000	57,000,000	23,000,000	71,000,000	27,000,000	66,000,000	25,000,000	62,000,000	24,000,000	57,000,000	19,000,000	62,000,000																												7,243,000		7,210,000	6,029,000	5,414,000	38,763,000	7,047,000		4,436,000	41,114,000	2,321,000		2,293,000	31,723,000	5,676,000	21,548,000	3,278,000
loss on asset disposals	1,810,000	8,323,000	-3,476,000	8,000,000	4,000,000	7,000,000	7,000,000	9,000,000	7,000,000	5,000,000	6,000,000	5,000,000	11,000,000			7,000,000	2,000,000	9,000,000	9,000,000	3,000,000	5,000,000	12,000,000	7,000,000	4,000,000	4,000,000	7,000,000			-5,000,000	6,000,000																												5,431,000		2,496,000	2,416,000	7,100,000	6,438,000	3,652,000
loss on sale of business and other exit costs	1,562,000	-17,886,000	2,968,000	-8,000,000	-1,000,000	-56,000,000											-1,000,000	-1,000,000	0	0	-1,000,000					0	1,000,000	0	-2,000,000
loss on license sales and exchanges	-150,878,000	0	-1,123,000	-4,000,000	-1,000,000	-1,000,000	-3,000,000	8,000,000	-1,000,000																			0	-2,000,000	0
other operating activities	42,000	10,166,000	13,451,000	4,000,000	2,000,000	3,000,000	1,000,000	4,000,000	1,000,000	4,000,000	0	2,000,000	2,000,000	3,000,000	4,000,000			10,000,000	14,000,000	38,000,000	-1,000,000	2,000,000	0			0	1,000,000																															948,000
changes in assets and liabilities from operations
accounts receivable	2,787,000	-16,166,000	20,977,000	-30,000,000	1,000,000	-43,000,000	27,000,000	-21,000,000	27,000,000	-9,000,000	-8,000,000	-3,000,000	22,000,000	-10,000,000	-34,000,000	-39,000,000	14,000,000	-48,000,000	-11,000,000	20,000,000	17,000,000	-42,000,000	5,000,000	-22,000,000	43,000,000	-7,000,000	-40,000,000	-30,000,000	28,000,000	-34,000,000																												9,648,000
inventory	316,000	-24,000	-51,986,000			-17,000,000	-17,000,000	30,000,000	24,000,000	-26,000,000	35,000,000			-16,000,000	-39,000,000	-30,000,000	-5,000,000	-37,000,000	47,000,000	-43,000,000	8,000,000	10,000,000	-13,000,000	67,000,000	-52,000,000	-22,000,000	7,000,000	11,000,000	-15,000,000	-18,000,000																															7,720,000
accounts payable	-7,881,000	-39,055,000	30,225,000	16,000,000	-17,000,000	-43,000,000	17,000,000	21,000,000	-35,000,000	-63,000,000	88,000,000	38,000,000	-162,000,000	16,000,000	22,000,000	54,000,000	-60,000,000	-13,000,000	50,000,000	9,000,000	-115,000,000	78,000,000	46,000,000	-38,000,000	87,000,000	-56,000,000	5,000,000	-55,000,000	46,000,000	-11,000,000
customer deposits and deferred revenues	-33,593,000	-39,464,000	-17,105,000	-7,000,000	-7,000,000	12,000,000	-10,000,000	1,000,000	6,000,000	7,000,000	-6,000,000	0	-9,000,000	18,000,000	23,000,000	-2,000,000	9,000,000	30,000,000	7,000,000	-3,000,000	9,000,000	25,000,000	-13,000,000	1,000,000	-9,000,000	-7,000,000	-10,000,000	3,000,000	5,000,000	15,000,000																												784,000
accrued taxes	91,865,000	3,137,000	-26,974,000	3,000,000	1,000,000	-20,000,000	9,000,000	3,000,000	4,000,000	-22,000,000	16,000,000	55,000,000	1,000,000	-9,000,000	5,000,000	2,000,000	129,000,000	-6,000,000	-18,000,000			36,000,000	-41,000,000	-41,000,000	-74,000,000	-54,000,000	35,000,000	-7,000,000	9,000,000	-26,000,000																												35,641,000		21,876,000	34,865,000
accrued interest	580,000		-2,741,000	-10,000,000	9,000,000		8,000,000	-4,000,000	9,000,000		9,000,000	-10,000,000	9,000,000		9,000,000	-9,000,000	10,000,000		7,000,000	-12,000,000	9,000,000				9,000,000				11,000,000																													9,212,000		-8,845,000	9,358,000
other assets and liabilities	-49,074,000	-12,812,000	-47,156,000	65,000,000	-119,000,000	85,000,000	-13,000,000	53,000,000	-131,000,000	61,000,000	-5,000,000	29,000,000	-88,000,000	49,000,000	26,000,000	37,000,000	-59,000,000	47,000,000	10,000,000	26,000,000	-69,000,000	54,000,000	-8,000,000	40,000,000	-82,000,000	17,000,000	31,000,000	0	-74,000,000	31,000,000
net cash from operating activities - continuing operations	68,094,000	113,444,000
net cash from operating activities - discontinued operations	-633,000	-93,868,000
net cash from operating activities	67,461,000	19,576,000	-36,687,000	421,000,000	186,000,000	212,000,000	307,000,000	402,000,000	224,000,000	219,000,000	409,000,000	468,000,000	46,000,000	254,000,000	167,000,000	353,000,000	381,000,000	240,000,000	382,000,000	316,000,000	165,000,000	366,000,000	360,000,000	439,000,000	367,000,000	142,000,000	282,000,000	265,000,000	327,000,000	205,000,000
cash flows from investing activities
cash paid for additions to property, plant and equipment	-149,041,000	-128,470,000	23,941,000	-157,000,000	-129,000,000	-229,000,000	-204,000,000	-216,000,000	-235,000,000	-305,000,000	-277,000,000	-298,000,000	-331,000,000	-367,000,000	-268,000,000	-255,000,000	-271,000,000	-405,000,000	-269,000,000	-237,000,000	-220,000,000	-424,000,000	-304,000,000	-233,000,000	-377,000,000	-326,000,000	-238,000,000	-238,000,000	-155,000,000	-329,000,000	-172,000,000	-144,000,000	-131,000,000	-156,000,000	-115,000,000	-127,000,000	-145,000,000	-122,000,000	-159,000,000
cash paid for licenses		0	-175,000	-2,000,000	-2,000,000																		-25,000,000	-118,000,000	-26,000,000
cash received from divestitures	1,016,478,000	42,953,000	5,389,000	16,000,000	8,000,000	56,000,000																																						25,464,000	22,863,000	103,042,000	4,300,000			146,000	0	50,036,000							0			0	0	6,838,000		0	3,998,000	279,000		0
other investing activities	396,000	899,000	1,168,000			2,000,000	0			6,000,000	0	6,000,000	2,000,000	3,000,000	-8,000,000	-1,000,000	-10,000,000	-12,000,000	1,000,000			1,000,000				-6,000,000					1,000,000			0			0			4,010,000	-437,000	2,765,000		1,878,000	2,097,000	1,623,000	-267,000	7,763,000	6,364,000	-4,205,000	-8,480,000	-436,000		687,000	-1,503,000	202,000	1,040,000	439,000	1,295,000	980,000	1,010,000			371,000				2,246,000
net cash from investing activities - continuing operations	867,833,000	-84,618,000
net cash from investing activities - discontinued operations		0
net cash from investing activities	867,833,000	-84,618,000	2,492,722,000	-141,000,000	-123,000,000	-174,000,000	-115,000,000	-219,000,000	-246,000,000	-405,000,000	-293,000,000	-295,000,000	-334,000,000	-375,000,000	-286,000,000	-274,000,000	-848,000,000	-456,000,000	-291,000,000	-235,000,000	-1,480,000,000	-433,000,000	-309,000,000	-365,000,000	-404,000,000	-412,000,000	-221,000,000	-357,000,000	-259,000,000	-355,000,000
telephone and data systems, inc.consolidated statement of cash flows
cash flows from financing activities
issuance of long-term debt	1,300,000	0				0	0	300,000,000	140,000,000	300,000,000	390,000,000	75,000,000	316,000,000	127,000,000	251,000,000	0	776,000,000	125,000,000	226,000,000	625,000,000	567,000,000	575,000,000	500,000,000	125,000,000	50,000,000												0													0	0	358,000	0	343,700,000	300,000,000											0	2,403,000	454,000		0	0	560,000	304,000	-46,000
repayment of long-term debt	-150,314,000	-272,000	-1,944,844,000	-9,000,000	-8,000,000	-48,000,000	-7,000,000	-344,000,000	-57,000,000	-59,000,000	-455,000,000	-204,000,000	-5,000,000	-2,000,000	-102,000,000	-101,000,000	-127,000,000	-197,000,000	-583,000,000			-102,000,000	-3,000,000	-3,000,000	-2,000,000	-102,000,000	-5,000,000	-6,000,000	-5,000,000	-5,000,000	-5,000,000									-181,000	-187,000	-247,000		-230,000	-197,000	-392,000	-591,000	-277,000	-328,000	-1,483,000	-459,000	-493,000		-612,985,000	-402,000	-902,000
tax withholdings, net of cash receipts, for tds stock-based compensation awards	-1,710,000	-41,000	23,766,000
tax withholdings, net of cash receipts, for array stock-based compensation awards	-1,373,000	60,000	-27,506,000
repurchase of array common shares		0	-360,000
dividends paid to tds shareholders	-21,860,000	-21,869,000	-21,801,000	-22,000,000	-22,000,000	-21,000,000	-22,000,000	-22,000,000	-39,000,000	-39,000,000	-38,000,000	-38,000,000	-38,000,000	-37,000,000	-38,000,000	-38,000,000	-38,000,000	-38,000,000	-32,000,000	-29,000,000	-20,000,000	-20,000,000	-19,000,000	-20,000,000	-19,000,000	-18,000,000	-19,000,000	-19,000,000	-19,000,000	-18,000,000	-18,000,000	-18,000,000	-18,000,000	-17,000,000	-17,000,000	-17,000,000	-17,000,000	-16,000,000	-16,000,000	-15,329,000	-15,298,000	-15,232,000		-14,468,000	-14,525,000	-14,582,000	-13,832,000
array dividends paid to noncontrolling public shareholders	-159,890,000	0
distributions to noncontrolling interests	-638,000	-801,000	-19,131,000	0	-2,000,000	-1,000,000	-1,000,000	-1,000,000	-2,000,000	-1,000,000	0	-1,000,000	-1,000,000	0	-1,000,000	-1,000,000	-1,000,000	-1,000,000	0	-1,000,000	-1,000,000	0	-1,000,000	0	-1,000,000	-1,000,000	-1,000,000	-1,000,000	-1,000,000	-1,000,000										-225,000	-5,647,000	-225,000		43,000	-136,000	-346,000	-155,000	-896,000	-2,396,000	-848,000	-425,000	-218,000		-691,000	-686,000	-1,514,000
cash paid for software license agreements	-166,000	-497,000	18,564,000	-10,000,000	-10,000,000	-35,000,000	-11,000,000	-12,000,000	-9,000,000	-37,000,000	-9,000,000	-12,000,000	-8,000,000
other financing activities	9,000	-8,777,000	-6,481,000			-1,000,000	0	1,000,000	-2,000,000				-1,000,000	4,000,000	0	1,000,000	-3,000,000	-3,000,000	2,000,000	-3,000,000	-3,000,000				-3,000,000	5,000,000	5,000,000							4,000,000			2,000,000	6,000,000	3,000,000	3,338,000	2,669,000	-1,488,000		1,368,000	2,668,000	2,834,000	1,258,000	1,705,000	-1,351,000	1,418,000	1,992,000	798,000		1,109,000	968,000	-7,469,000			641,000	707,000	58,000	1,842,000	805,000	1,262,000								1,207,000
net cash from financing activities - continuing operations	-334,642,000	-102,000,000
net cash from financing activities - discontinued operations		0
net cash from financing activities	-334,642,000	-102,000,000	-2,077,065,000	-92,000,000	-76,000,000	-126,000,000	-66,000,000	-115,000,000	30,000,000	163,000,000	-116,000,000	-189,000,000	198,000,000	39,000,000	95,000,000	-170,000,000	649,000,000	-131,000,000	251,000,000	-741,000,000	942,000,000	423,000,000	459,000,000	78,000,000	-3,000,000	-117,000,000	-41,000,000	-33,000,000	-29,000,000	10,000,000
net increase in cash, cash equivalents and restricted cash	600,652,000	-167,042,000	378,970,000	188,000,000	-13,000,000	-88,000,000	126,000,000	68,000,000	8,000,000		0	-16,000,000	-90,000,000	-82,000,000	-24,000,000	-91,000,000	182,000,000	-347,000,000	342,000,000			356,000,000	510,000,000	152,000,000	-40,000,000	-387,000,000	20,000,000	-125,000,000	39,000,000	-140,000,000	190,000,000	94,000,000	161,000,000
cash, cash equivalents and restricted cash
beginning of period	770,150,000	0	-778,000	0	384,000,000	0	0	0	270,000,000	0	0	0	399,000,000	0	0	0	414,000,000	0	0	0	1,452,000,000	0	0	0	474,000,000	0	0	0	927,000,000	0	0	0	622,000,000	0	0	900,000,000	0	0	985,000,000	0	0	471,901,000		0	0	830,014,000	0	0	740,481,000	0	0	563,275,000	0	0	368,134,000	0	0	670,992,000	0	0	777,309,000	0	0	1,174,446,000		0	0	1,013,325,000		0	0	1,095,791,000		2,524,000
end of period	1,370,802,000	-167,042,000	378,192,000	188,000,000	371,000,000	-88,000,000	126,000,000	68,000,000	278,000,000	-23,000,000	0	-16,000,000	309,000,000	-82,000,000	-24,000,000	-91,000,000	596,000,000	-347,000,000	342,000,000	-660,000,000	1,079,000,000	356,000,000	510,000,000	152,000,000	434,000,000	-387,000,000	20,000,000	-125,000,000	966,000,000	-140,000,000	190,000,000	94,000,000	783,000,000	-7,000,000	-105,000,000	896,000,000	86,000,000	-155,000,000	1,054,000,000	233,876,000	-3,571,000	635,120,000		-301,793,000	1,950,000	872,910,000	-535,326,000	479,715,000	766,700,000	-24,480,000	-25,366,000	639,130,000	15,109,000	-7,574,000	592,010,000	11,531,000	-266,989,000	645,466,000	113,402,000	-91,510,000	756,267,000	-119,080,000	-84,623,000	1,209,786,000		16,747,000	126,828,000	1,176,403,000		-214,339,000	167,495,000	1,076,600,000		-48,199,000
loss on impairment of intangible assets
telephone and data systems, inc.
consolidated statement of cash flows
year ended december 31,
repayment of short-term debt										0	0	0	-60,000,000	0
repurchase of tds common shares		-67,432,000								0	0	-3,000,000	-3,000,000	-15,000,000	-5,000,000	-16,000,000	-4,000,000	-4,000,000	-1,000,000	0	-3,000,000	0	0	-8,000,000	-6,000,000																			-11,203,000	-16,748,000	-3,342,000
payment of debt issuance costs		-2,371,000	-4,459,000				0															-18,000,000	-16,000,000																	-21,000	-62,000	-3,018,000					0							-11,343,000	-9,848,000
loss on impairment of licenses														0	0
equipment installment plans receivable				6,000,000	38,000,000	-49,000,000	7,000,000	3,000,000	2,000,000	-40,000,000	13,000,000	6,000,000	1,000,000	-68,000,000	-106,000,000			-72,000,000	-12,000,000	-14,000,000	-18,000,000	-67,000,000	-9,000,000	-1,000,000	23,000,000	-55,000,000	-31,000,000	-1,000,000	-10,000,000	-61,000,000
tax payments, net of cash receipts, for tds stock-based compensation awards					-6,000,000
tax payments, net of cash receipts, for uscellular stock-based compensation awards					-7,000,000
repurchase of uscellular common shares					-21,000,000	-28,000,000								-15,000,000	-10,000,000	-8,000,000	-10,000,000	-10,000,000	-19,000,000	0	-2,000,000	0
cash paid for licenses and other intangible assets
issuance of short-term debt														0	50,000,000	0	60,000,000
tds common shares reissued for stock-based compensation awards, net of tax payments
uscellular common shares reissued for stock-based compensation awards, net of tax payments
payment of debt and equity issuance costs														0	0	0	-2,000,000	-3,000,000	-29,000,000	-16,000,000	-14,000,000
tax payments for tds stock-based compensation awards							0	-9,000,000	-1,000,000
tax payments for uscellular stock-based compensation awards							1,000,000
cash paid for intangible assets								-4,000,000	-11,000,000		-16,000,000	-3,000,000	-5,000,000		-18,000,000	-17,000,000	-568,000,000		-4,000,000	-3,000,000	-1,261,000,000
advance payments for license acquisitions																		0											-135,000,000
issuance of tds preferred shares																		0	690,000,000	0	420,000,000
tds common shares reissued for benefit plans, net of tax payments										0	0	-1,000,000	-2,000,000	0	0	-2,000,000	-2,000,000	0	0	-4,000,000	-1,000,000	0	0	-2,000,000	-1,000,000	0	0	-3,000,000	-3,000,000	15,000,000	20,000,000	-2,000,000	9,000,000			1,000,000				1,578,000	9,618,000	213,000		85,000	451,000	-50,000
uscellular common shares reissued for benefit plans, net of tax payments										0	0			0	0			0	-3,000,000	-12,000,000	-1,000,000	0
net decrease in cash, cash equivalents and restricted cash																					-373,000,000
(gain) loss on asset disposals														14,000,000
(gain) loss on sale of business and other exit costs														0
(gain) loss on license sales and exchanges
(gain) loss on investments
cash paid for acquisitions, licenses and other intangible assets
cash received from divestitures and exchanges														0	7,000,000	0	1,000,000	1,000,000	1,000,000	0	1,000,000	25,000,000	0			9,000,000	0	1,000,000	31,000,000	1,000,000	7,000,000	17,000,000	4,000,000	2,000,000	1,000,000	16,000,000	3,000,000	15,000,000	2,000,000	32,884,000	17,757,000	274,131,000
payments to acquire additional interest in subsidiaries
cash received from investments																		0	0			0	0			0	18,000,000	9,000,000	2,000,000
loss on investments																						1,000,000
cash paid for investments																						-2,000,000	0	0	-1,000,000	0	0	-10,000,000	-1,000,000																					0	-35,000,000	-10,000,000				-48,750,000
cash paid for acquisitions and licenses																										-89,000,000	-2,000,000	-254,000,000	-1,000,000	-6,000,000	0			0	-186,000,000	-14,000,000	0			-6,000,000	0	-280,710,000		-265,408,000	-10,427,000	-8,254,000	-266,233,000	0	-14,150,000	-45,310,000	-41,117,000	-11,096,000				0
u.s. cellular common shares reissued for benefit plans, net of tax payments																										-1,000,000	0	-7,000,000	-1,000,000	11,000,000			2,000,000			3,000,000	1,000,000	2,000,000	1,000,000	702,000	-2,057,000	487,000		320,000	514,000	316,000	5,046,000	-2,329,000	123,000	166,000	-2,822,000	357,000	491,000	-41,000	1,305,000	594,000	-342,000	486,000			356,000
repurchase of u.s. cellular common shares																								-2,000,000	-21,000,000	0														-1,768,000	0	-2,302,000		-6,400,000	-6,298,000	-2,000,000	-119,000	0	-18,425,000					-44,951,000	-17,357,000	-19,097,000
loss on impairment of goodwill
noncash interest																													1,000,000
cash received for investments																														0	0	0	100,000,000											0	0	10,000,000	65,000,000			15,000,000	108,195,000	20,249,000	55,656,000	90,245,000	122,785,000	25,104,000	100,000	15,561,000
federal communications commission deposit																																					0
repurchase of tds preferred shares
add (deduct) adjustments to reconcile net income to net cash flows
from operating activities
the accompanying notes are an integral part of these consolidated financial statements.
net increase in cash and cash equivalents																																						-155,000,000	69,000,000	233,876,000	-3,571,000	163,219,000			1,950,000	42,896,000	-535,326,000	479,715,000	26,219,000	-24,480,000	-25,366,000	75,855,000	15,109,000	-7,574,000	223,876,000									35,340,000		16,747,000	126,828,000	163,078,000
cash and cash equivalents
net decrease in cash and cash equivalents
add (deduct) adjustments to reconcile net income to cash flows
cash from additions to property, plant and equipment																																								-198,599,000	-193,052,000	-166,461,000		-213,811,000	-189,017,000	-150,890,000	-247,089,000	-207,963,000	-176,318,000	-229,686,000	-258,600,000	-242,611,000
add (deduct) adjustments to reconcile net income to cash flows from operating activities
cash flows from operating activities:
adjustments to reconcile net income to net cash from operating activities:
cash flows from investing activities:
capital expenditures	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
free cash flows	67,461,000	19,576,000	-36,687,000	421,000,000	186,000,000	212,000,000	307,000,000	402,000,000	224,000,000	219,000,000	409,000,000	468,000,000	46,000,000	254,000,000	167,000,000	353,000,000	381,000,000	240,000,000	382,000,000	316,000,000	165,000,000	366,000,000	360,000,000	439,000,000	367,000,000	142,000,000	282,000,000	265,000,000	327,000,000	205,000,000
fixed asset transfers out
change in due from affiliate
cash flows from financing activities:
distributions to partners
change in cash
cash—beginning of year
cash—end of year
noncash transactions from investing activities:
accruals for capital expenditures
see notes to financial statements.
general partner
limited partners:
u.s. cellular dividends paid to noncontrolling public shareholders																																															0
tds common shares and special common shares reissued for benefit plans, net of tax payments																																															6,761,000	636,000	140,000				347,000	468,000	587,000	338,000	382,000	463,000	553,000	360,000	383,000	422,000	391,000	1,103,000
dividends paid																																																	-13,792,000	-13,320,000	-13,309,000	-13,301,000		-12,146,000	-12,197,000	-11,770,000
repurchase of tds common and special common shares																																																						-9,897,000	-11,603,000
cash classified as held for sale
cash flows from investing activities - sum
tds common shares and special common shares reissued
transfer of cash to restricted cash																																																							-282,500,000
(gain) loss on asset disposals and exchanges
gain on investment
noncash interest expense																																																												2,074,000	96,000	643,000	2,611,000	5,319,000		5,220,000	5,257,000	5,378,000		5,276,000	5,225,000	5,480,000	5,123,000	5,113,000
additions to property, plant and equipment																																																						-211,248,000	-127,463,000	-168,188,000
repurchase of tds special common shares
proceeds from disposition of investments
cash paid to settle derivative liabilities
cash paid for short-term investments
issuance of notes payable																																																														0				0	0	25,000,000		195,000,000	140,000,000	55,000,000	160,000,000	40,000,000
repayment of notes payable
repayment of variable prepaid forward contracts
excess tax benefit from stock awards																																																											1,000	1,000	3,000	126,000	568,000	1,138,000
loss on investments and financial instruments																																																																3,490,000
cash and cash equivalents -
gain on investments and financial instruments
minority share of income																																																														21,771,000	18,509,000	17,018,000		15,623,000	30,213,000	17,971,000		11,092,000	11,939,000	10,250,000	9,891,000	9,972,000
extraordinary item, net of tax
changes in assets and liabilities
change in accounts receivable																																																																				20,262,000				9,065,000
change in inventory
change in accounts payable
change in customer deposits and deferred revenues																																																														-476,000	4,141,000	6,162,000		5,291,000	6,821,000	12,648,000		5,004,000	570,000	4,349,000	1,616,000	-3,222,000
change in accrued taxes																																																														-194,962,000	154,882,000	149,349,000		69,623,000	56,833,000	54,241,000		-42,728,000	19,530,000	47,703,000	-35,709,000	-37,760,000
change in accrued interest																																																																5,807,000				5,403,000				4,567,000
change in other assets and liabilities
settlement of variable prepaid forward contracts
distributions to minority partners
add (deduct) adjustments to reconcile net income to net cash from operating activities
(gain) loss on investments and financial instruments
other noncash expense																																																															58,000	189,000		344,000	1,840,000	336,000		3,016,000	1,726,000	1,079,000	2,922,000	3,228,000
cash paid for acquisitions
proceeds from sale of investments																																																															178,025,000	48,619,000
depreciation and amortization
net loss on disposal of property, plant and equipment
provision for losses on accounts receivable
amortization of deferred gain on lease transaction
changes in certain assets and liabilities:
unbilled revenue
prepaid expenses and other current assets
accounts payable and accrued liabilities
advance billings and customer deposits
other long term liabilities
net cash provided by operating activities
capital expenditures, including purchases from affiliates— net
change in due from general partner — net
cash flows from financing activities —
cash — beginning of year
cash — end of year
noncash transactions from investing and financing activities — accruals for capital expenditures
add (deduct) adjustments to reconcile net income to net cash from operating activities:
extraordinary item, net of taxes
fair value adjustment of derivative instruments																																																																		54,824,000
gain on sale of assets
gain on investments
changes in assets and liabilities:
cash paid for acquisitions, net of cash acquired
proceeds from sales of investments																																																																		81,193,000
proceeds from return of investment
repayment of medium-term notes
tds common shares and special common shares issued for benefit plans																																																																		36,750,000	67,299,000	7,040,000		0
excess tax benefit from exercise of stock awards																																																																		6,932,000
u.s. cellular common shares issued for benefit plans																																																																		2,958,000	7,958,000	5,558,000		0	-2,000	3,858,000		8,029,000
capital distributions to minority partners
change in materials and supplies																																																																				15,698,000		4,928,000	2,957,000	7,546,000		134,000
equity earnings of unconsolidated entities
adjustments to reconcile net income to net cash provided by operating activities:
amortization of gain on lease transaction
capital expenditures, including purchases from affiliates
change in due from general partner
noncash transactions from investing and financing activities:
discontinued operations
sales of investments																																																																						0
return of investment
capital (distributions) to minority partners
investment income
stock based compensation expense																																																																								7,023,000
acquisitions, divestitures and exchanges
tds common share issued for benefit plans																																																																								3,080,000
loss on impairment of long-lived assets
loss on sales of assets
cumulative effect of accounting change
accreted interest on repayment of u.s. cellular long-term debt
repayment of company-obligated mandatorily redeemable preferred securities
redemption of medium-term notes
stock options exercised
beginning of year
end of year
add (deduct) adjustments to reconcile net income to net cash provided by operating activities
(gain) on assets held for sale
cash received from sale of assets
acquisitions, net of cash acquired
repayment of u.s. cellular long-term debt
repayment of other long-term debt
tds common shares issued for benefit plans																																																																										5,487,000
add (deduct) adjustments to reconcile net income to net cash
provided by operating activities
bad debt expense
cash flows from financing activities - sum

Telephone and Data Systems, Inc(NYSE:TDS)

Telephone and Data Systems, Inc
(NYSE:TDS)