US Cellular 2015 Annual Report Download - page 119

Download and view the complete annual report

Please find page 119 of the 2015 US Cellular annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 124

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124

Year Ended or at December 31, 2015 2014 2013 2012 2011
(Dollars and shares in thousands, except per share amounts)
Statement of Operations data
Operating revenues ..................... $ 5,176,241 $ 5,009,438 $ 4,901,236 $ 5,345,277 $ 5,180,471
Loss on impairment of assets1.............. –87,802 – 515 –
(Gain) loss on sale of business and other exit costs,
net.............................. (135,887) (15,846) (300,656) 21,061 –
(Gain) loss on license sales and exchanges ...... (146,884) (112,993) (255,479) – (11,762)
Operating income (loss) .................. 397,071 (189,864) 235,359 183,863 362,502
Gain (loss) on investments ................ –– 14,547 (3,718) 24,103
Net income (loss) ...................... 262,610 (147,292) 166,821 122,653 250,242
Net income (loss) attributable to noncontrolling
interests, net of tax .................... 43,573 (10,937) 24,894 40,792 49,676
Net income (loss) attributable to TDS shareholders . 219,037 (136,355) 141,927 81,861 200,566
Net income (loss) available to common ........ $ 218,988 $ (136,404) $ 141,878 $ 81,811 $ 200,516
Basic weighted average shares outstanding ...... 108,645 108,485 108,490 108,671 108,562
Basic earnings (loss) per share attributable to TDS
shareholders ....................... $ 2.02 $ (1.26) $ 1.31 $ 0.75 $ 1.85
Diluted weighted average shares outstanding ..... 109,910 108,485 109,132 108,937 109,098
Diluted earnings (loss) per share attributable to TDS
shareholders ....................... $ 1.98 $ (1.26) $ 1.29 $ 0.75 $ 1.83
Dividends per Common, Special Common and
Series A Common Share2............... $ 0.56 $ 0.54 $ 0.51 $ 0.49 $ 0.47
Balance Sheet data
Cash and cash equivalents ................ $ 984,643 $ 471,901 $ 830,014 $ 740,481 $ 563,275
Property, plant and equipment, net ........... 3,764,477 3,846,125 3,878,144 3,997,266 3,784,535
Total assets3......................... 9,422,462 8,854,422 8,861,028 8,580,235 8,166,005
Net long-term debt, excluding current portion3.... 2,439,827 1,941,069 1,676,955 1,677,906 1,494,857
Total TDS shareholders’ equity .............. 4,125,550 3,926,278 4,117,837 4,011,536 3,962,161
Capital expenditures .................... $ 759,368 $ 770,577 $ 909,660 $ 1,004,621 $ 987,218
1Includes Loss on Impairment of intangible assets related to Goodwill in 2014 and 2012.
2Dividends per share reflects the amount paid per share outstanding at the date the dividend was declared and has not been retroactively adjusted to
reflect the impact of the Share Consolidation Amendment approved by TDS shareholders on January 13, 2012.
3Simplifying the Presentation of Debt Issuance Costs (‘‘ASU 2015-03’’), was adopted early as of December 31, 2015 and applied retrospectively. All prior
year numbers have been revised to conform to this standard. See Note 1 — Summary of Significant Accounting Policies and Recent Accounting
Pronouncements for additional information regarding ASU 2015-03.
111
TELEPHONE AND DATA SYSTEMS, INC. SELECTED CONSOLIDATED FINANCIAL DATA