US Cellular 2015 Annual Report Download - page 61

Download and view the complete annual report

Please find page 61 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

SUPPLEMENTAL INFORMATION
TDS sometimes uses information derived from consolidated financial information but not presented in its financial
statements prepared in accordance with U.S. GAAP to evaluate the performance of its business. Certain of these
measures are considered ‘‘non-GAAP financial measures’’ under U.S. Securities and Exchange Commission Rules.
Specifically, TDS has referred to the following measures in this Form 10-K Report:
ᔢAdjusted EBITDA
ᔢOperating Cash Flow
ᔢFree Cash Flow
ᔢAdjusted Free Cash Flow
Below is a reconciliation of each of these measures:
Adjusted EBITDA and Operating Cash Flow
Adjusted EBITDA (earnings before interest, taxes, depreciation, amortization and accretion), is defined as net income
adjusted for the items set forth in the reconciliation. Operating cash flow is defined as net income adjusted for the items
set forth in the reconciliation. Adjusted EBITDA and Operating cash flow exclude these items in order to show operating
results on a more comparable basis from period to period. From time to time, TDS may exclude other items from
Adjusted EBITDA and/or Operating cash flow if such items help reflect operating results on a more comparable basis.
TDS does not intend to imply that any such items that are excluded are non-recurring, infrequent or unusual; such items
may occur in the future. Adjusted EBITDA and Operating cash flow are not measures of financial performance under
GAAP and should not be considered as alternatives to net income as indicators of the company’s operating
performance or as alternatives to cash flows from operating activities, determined in accordance with GAAP, as
indicators of cash flows or as measures of liquidity. TDS believes Adjusted EBITDA and Operating cash flow are useful
53
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS