US Cellular 2015 Annual Report Download - page 32

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FINANCIAL OVERVIEW — WIRELINE
Components of Operating Income (Loss)
Year Ended December 31, 2015 2014 2013 2015 vs. 2014 2014 vs. 2013
(Dollars in thousands)
Service revenues
Residential ............... $ 296,943 $ 293,304 $ 293,217 $ 3,639 1% $87 –
Commercial .............. 220,643 229,306 229,715 (8,663) (4)% (409) –
Wholesale ............... 181,352 191,976 200,440 (10,624) (6)% (8,464) (4)%
Total service revenues ...... 698,938 714,586 723,372 (15,648) (2)% (8,786) (1)%
Equipment and product sales .... 1,965 1,836 3,195 129 7% (1,359) (43)%
Total operating revenues . . . 700,903 716,422 726,567 (15,519) (2)% (10,145) (1)%
Cost of services (excluding
depreciation, amortization and
accretion reported below) ..... 254,879 256,878 266,635 (1,999) (1)% (9,757) (4)%
Cost of equipment and products . . 2,212 2,336 3,831 (124) (5)% (1,495) (39)%
Selling, general and administrative . 193,850 189,956 220,097 3,894 2% (30,141) (14)%
450,941 449,170 490,563 1,771 – (41,393) (8)%
Operating cash flow* .......... 249,962 267,252 236,004 (17,290) (6)% 31,248 13%
Depreciation, amortization and
accretion ................ 165,841 169,044 170,868 (3,203) (2)% (1,824) (1)%
(Gain) loss on asset disposals, net . 5,094 2,091 130 3,003 >100% 1,961 >100%
(Gain) loss on sale of business and
other exit costs, net ......... (9,530) (2,357) – (7,173) >(100)% (2,357) N/M
Total operating expenses . . . 612,346 617,948 661,561 (5,602) (1)% (43,613) (7)%
Total operating income ......... $ 88,557 $ 98,474 $ 65,006 $ (9,917) (10)% $ 33,468 51%
Adjusted EBITDA* ........... $ 252,150 $ 269,624 $ 237,568 $ (17,474) (6)% $ 32,056 13%
Capital expenditures .......... $ 140,433 $ 135,805 $ 140,009 $ 4,628 3% $ (4,204) (3)%
N/M – Not meaningful
* Represents a non-GAAP financial measure. Refer to Supplemental Information within this MD&A for a reconciliation of this measure.
24
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS