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UNITED STATES CELLULAR CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
NOTE 9 LICENSES AND GOODWILL (Continued)
Goodwill
Year Ended December 31, 2011 2010
(Dollars in thousands)
Assigned value at time of acquisition .................... $494,737 $494,737
Accumulated impairment losses in prior periods ............ — —
Balance, beginning of year ........................... 494,737 494,737
Acquisitions ..................................... — —
Balance, end of year ................................ $494,737 $494,737
See Note 1—Summary of Significant Accounting Policies and Recent Accounting Pronouncements for a
description of accounting policies related to licenses and goodwill.
Impairment Assessments
U.S. Cellular performs its annual impairment assessment of its licenses and goodwill in the fourth quarter
of each year. No impairment of goodwill or licenses resulted from the assessments performed in 2011 or
2010. In 2009, the assessment resulted in no impairment of goodwill and an impairment loss of
$14.0 million on licenses. The entire impairment loss related to licenses in developed operating markets
(built licenses).
NOTE 10 INVESTMENTS IN UNCONSOLIDATED ENTITIES
Investments in unconsolidated entities consist of amounts invested in wireless entities which are
accounted for using either the equity or cost method as shown in the following table:
December 31, 2011 2010
(Dollars in thousands)
Equity method investments:
Capital contributions, loans and advances .............. $ 13,787 $ 22,885
Cumulative share of income ........................ 928,019 857,533
Cumulative share of distributions .................... (805,321) (721,182)
136,485 159,236
Cost method investments ........................... 1,611 1,611
Total investments in unconsolidated entities .............. $138,096 $ 160,847
Equity in earnings of unconsolidated entities totaled $83.6 million, $97.3 million and $96.8 million in
2011, 2010 and 2009, respectively; of those amounts, U.S. Cellular’s investment in the Los Angeles
SMSA Limited Partnership (‘‘LA Partnership’’) contributed $55.3 million, $64.8 million and $64.7 million in
2011, 2010 and 2009, respectively. U.S. Cellular held a 5.5% ownership interest in the LA Partnership
throughout and at the end of each of these years.
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