2024 Q3 Form 10-Q Financial Statement

#000082113024000063 Filed on November 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q3
Revenue $922.0M
YoY Change -4.26%
Cost Of Revenue $383.0M
YoY Change -7.26%
Gross Profit $539.0M
YoY Change -2.0%
Gross Profit Margin 58.46%
Selling, General & Admin $324.0M
YoY Change -2.7%
% of Gross Profit 60.11%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $170.0M
YoY Change 6.25%
% of Gross Profit 31.54%
Operating Expenses $1.012B
YoY Change 11.7%
Operating Profit -$90.00M
YoY Change -257.89%
Interest Expense $49.00M
YoY Change -2.0%
% of Operating Profit
Other Income/Expense, Net -$2.000M
YoY Change -71.43%
Pretax Income -$92.00M
YoY Change -284.0%
Income Tax -$14.00M
% Of Pretax Income
Net Earnings -$79.00M
YoY Change -443.48%
Net Earnings / Revenue -8.57%
Basic Earnings Per Share -$0.92
Diluted Earnings Per Share -$0.92
COMMON SHARES
Basic Shares Outstanding 86.00M shares
Diluted Shares Outstanding 86.00M shares

Balance Sheet

Concept 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $272.0M
YoY Change 77.78%
Cash & Equivalents $272.0M
Short-Term Investments
Other Short-Term Assets $21.00M
YoY Change -47.5%
Inventory $161.0M
Prepaid Expenses $55.00M
Receivables $871.0M
Other Receivables $46.00M
Total Short-Term Assets $1.427B
YoY Change 2.44%
LONG-TERM ASSETS
Property, Plant & Equipment $2.504B
YoY Change -3.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $464.0M
YoY Change 0.0%
Other Assets $619.0M
YoY Change -7.06%
Total Long-Term Assets $9.089B
YoY Change -2.85%
TOTAL ASSETS
Total Short-Term Assets $1.427B
Total Long-Term Assets $9.089B
Total Assets $10.52B
YoY Change -2.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $272.0M
YoY Change -33.98%
Accrued Expenses $268.0M
YoY Change 16.02%
Deferred Revenue $225.0M
YoY Change 1.35%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $20.00M
YoY Change 11.11%
Total Short-Term Liabilities $909.0M
YoY Change -11.83%
LONG-TERM LIABILITIES
Long-Term Debt $2.882B
YoY Change -0.72%
Other Long-Term Liabilities $579.0M
YoY Change -3.66%
Total Long-Term Liabilities $579.0M
YoY Change -3.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $909.0M
Total Long-Term Liabilities $579.0M
Total Liabilities $1.488B
YoY Change -8.82%
SHAREHOLDERS EQUITY
Retained Earnings $2.813B
YoY Change -2.26%
Common Stock $88.00M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $83.00M
YoY Change 3.75%
Treasury Stock Shares
Shareholders Equity $4.582B
YoY Change
Total Liabilities & Shareholders Equity $10.52B
YoY Change -2.17%

Cashflow Statement

Concept 2024 Q3
OPERATING ACTIVITIES
Net Income -$79.00M
YoY Change -443.48%
Depreciation, Depletion And Amortization $170.0M
YoY Change 6.25%
Cash From Operating Activities $245.0M
YoY Change -25.53%
INVESTING ACTIVITIES
Capital Expenditures $131.0M
YoY Change 10.08%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$131.0M
YoY Change 10.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -41.00M
YoY Change -83.53%
NET CHANGE
Cash From Operating Activities 245.0M
Cash From Investing Activities -131.0M
Cash From Financing Activities -41.00M
Net Change In Cash 73.00M
YoY Change -287.18%
FREE CASH FLOW
Cash From Operating Activities $245.0M
Capital Expenditures $131.0M
Free Cash Flow $114.0M
YoY Change -45.71%

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During the second quarter of 2024, UScellular modified its reporting structure due to the planned disposal of its wireless operations and, as a result, disaggregated its operations into two reportable segments – Wireless and Towers. This presentation reflects how UScellular's chief operating decision maker allocates resources and evaluates operating performance following this strategic shift. Prior periods have been updated to conform to the new reportable segments. See Note 13 — Business Segment Information for additional information about UScellular's segments.
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