US Cellular 2014 Annual Report Download - page 87

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United States Cellular Corporation
SELECTED CONSOLIDATED FINANCIAL DATA
Year Ended or at December 31, 2014 2013 2012 2011 2010
(Dollars and shares in thousands,
except per share amounts)
Statement of Operations data
Service revenues ..................... $3,397,937 $3,594,773 $4,098,856 $4,053,797 $3,913,001
Equipment sales ...................... 494,810 324,063 353,228 289,549 264,680
Operating revenues .................... 3,892,747 3,918,836 4,452,084 4,343,346 4,177,681
(Gain) loss on sale of business and other exit
costs, net ......................... (32,830) (246,767) 21,022 — —
(Gain) loss on license sales and exchanges . . . (112,993) (255,479) — (11,762) —
Operating income (loss) ................ (143,390) 146,865 156,656 280,780 201,473
Equity in earnings of unconsolidated entities . . 129,764 131,949 90,364 83,566 97,318
Gain (loss) on investments ............... — 18,556 (3,718) 11,373 —
Income (loss) before income taxes ......... (58,704) 257,656 205,053 312,822 241,116
Net income (loss) ..................... (46,922) 144,522 141,076 198,744 159,158
Net income (loss) attributable to noncontrolling
interests, net of tax .................. (4,110) 4,484 30,070 23,703 23,084
Net income (loss) attributable to U.S. Cellular
shareholders ....................... $ (42,812) $ 140,038 $ 111,006 $ 175,041 $ 136,074
Basic weighted average shares outstanding . . . 84,213 83,968 84,645 84,877 86,128
Basic earnings (loss) per share attributable to
U.S. Cellular shareholders .............. $ (0.51) $ 1.67 $ 1.31 $ 2.06 $ 1.58
Diluted weighted average shares
outstanding(1) ...................... 84,213 84,730 85,230 85,448 86,587
Diluted earnings (loss) per share attributable to
U.S. Cellular shareholders(1) ............ $ (0.51) $ 1.65 $ 1.30 $ 2.05 $ 1.57
Special dividend per share to U.S. Cellular
shareholders(1) ..................... $ — $ 5.75 $ — $ — $ —
Balance Sheet data
Total assets ......................... 6,487,268 6,445,708 6,587,450 6,327,976 5,875,549
Long-term debt (excluding current portion) . . . 1,151,819 878,032 878,858 880,320 867,941
Total U.S. Cellular shareholders’ equity ...... $3,301,991 $3,391,206 $3,733,855 $3,619,961 $3,486,452
(1) On June 25, 2013, U.S. Cellular paid a special cash dividend of $5.75 per share, for an aggregate amount
of $482.3 million, to all holders of U.S. Cellular Common Shares and Series A Common Shares as of
June 11, 2013. Outstanding U.S. Cellular stock options and restricted stock unit awards were equitably
adjusted for the special cash dividend. The impact of such adjustments on the earnings per share
calculation was reflected in all prior periods presented.
U.S. Cellular has not paid any cash dividends, except for a special cash dividend of $5.75 per share in
June 2013, and currently intends to retain all earnings for use in U.S. Cellular’s business.
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