US Cellular 2014 Annual Report Download - page 37

United States Cellular Corporation
Management’s Discussion and Analysis of Financial Condition and Results of Operations
• U.S. Cellular is subject to numerous surcharges and fees from federal, state and local governments,
and the applicability and the amount of these fees are subject to great uncertainty.
• Performance under device purchase agreements could have a material adverse impact on U.S.
Cellular’s business, financial condition or results of operations.
• Changes in U.S. Cellular’s enterprise value, changes in the market supply or demand for wireless
licenses, adverse developments in the business or the industry in which U.S. Cellular is involved
and/or other factors could require U.S. Cellular to recognize impairments in the carrying value of its
licenses, goodwill and/or physical assets.
• Costs, integration problems or other factors associated with acquisitions, divestitures or exchanges of
properties or licenses and/or expansion of U.S. Cellular’s business could have an adverse effect on
U.S. Cellular’s business, financial condition or results of operations.
• U.S. Cellular’s investments in unproven technologies may not produce the benefits that U.S. Cellular
expects.
• A failure by U.S. Cellular to complete significant network construction and systems implementation
activities as part of its plans to improve the quality, coverage, capabilities and capacity of its network,
support and other systems and infrastructure could have an adverse effect on its operations.
• Difficulties involving third parties with which U.S. Cellular does business, including changes in U.S.
Cellular’s relationships with or financial or operational difficulties of key suppliers or independent
agents and third party national retailers who market U.S. Cellular services, could adversely affect U.S.
Cellular’s business, financial condition or results of operations.
• U.S. Cellular has significant investments in entities that it does not control. Losses in the value of such
investments could have an adverse effect on U.S. Cellular’s financial condition or results of operations.
• A failure by U.S. Cellular to maintain flexible and capable telecommunication networks or information
technology, or a material disruption thereof, could have an adverse effect on U.S. Cellular’s business,
financial condition or results of operations.
• Cyber-attacks or other breaches of network or information technology security could have an adverse
effect on U.S. Cellular’s business, financial condition or results of operations.
• The market price of U.S. Cellular’s Common Shares is subject to fluctuations due to a variety of
factors.
• Changes in facts or circumstances, including new or additional information, could require U.S. Cellular
to record charges in excess of amounts accrued in the financial statements, which could have an
adverse effect on U.S. Cellular’s business, financial condition or results of operations.
• Disruption in credit or other financial markets, a deterioration of U.S. or global economic conditions or
other events could, among other things, impede U.S. Cellular’s access to or increase the cost of
financing its operating and investment activities and/or result in reduced revenues and lower operating
income and cash flows, which would have an adverse effect on U.S. Cellular’s business, financial
condition or results of operations.
• Uncertainty of U.S. Cellular’s ability to access capital, deterioration in the capital markets, other
changes in market conditions, changes in U.S. Cellular’s credit ratings or other factors could limit or
restrict the availability of financing on terms and prices acceptable to U.S. Cellular, which could require
U.S. Cellular to reduce its construction, development or acquisition programs.
• Settlements, judgments, restraints on its current or future manner of doing business and/or legal costs
resulting from pending and future litigation could have an adverse effect on U.S. Cellular’s business,
financial condition or results of operations.
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