CHICAGO, Nov. 1, 2024 /PRNewswire/ —
As up to now introduced, TDS will store a teleconference on November 1, 2024, at 9:00 a.m. CDT. Concentrate to the decision are living by way of the Occasions & Displays web page of buyers.tdsinc.com.
Phone and Knowledge Programs, Inc. (NYSE: TDS) reported general running revenues of $1,224 million for the 0.33 quarter of 2024, as opposed to $1,278 million for a similar duration one yr in the past. Web source of revenue (loss) because of TDS familiar shareholders and similar diluted profits (loss) according to percentage have been $(83) million and $(0.73), respectively, for the 0.33 quarter of 2024 in comparison to $(17) million and $(0.16), respectively, in the similar duration one yr in the past.
Web source of revenue because of TDS familiar shareholders except for a UScellular wi-fi spectrum license impairment (non-GAAP) of $136 million ($102 million, internet of tax) and similar diluted profits according to percentage except for a UScellular wi-fi spectrum license impairment (non-GAAP) have been $2 million and $0.01, respectively, for the 0.33 quarter of 2024. The impairment loss used to be considerably all similar to the retained high-band spectrum unit of accounting which contains the 28 GHz, 37 GHz and 39 GHz frequency bands.
Contemporary Highlights*
UScellular
- Introduced sale of make a selection spectrum property for $1 billion to Verizon in October 2024, and the sale of spare spectrum to 2 alternative cell community operators
- Stepped forward wi-fi running effects
- Postpaid handset internet losses progressed
- Postpaid ARPU grew 2%; provider revenues reduced 2%
- Pay as you go internet additions up
- Each postpaid and pay as you go churn progressed
- Mounted wi-fi shoppers grew 32% to 140,000
TDS Telecom
- Reached a milestone of fifty% of provider addresses now served with fiber
- Grew general year-over-year provider deal with footprint 9%
- Delivered 32,000 marketable fiber services and products addresses in Q3; 87,000 YTD
- Running revenues grew 2%; residential earnings expansion of five%
- Residential broadband connections grew 4% because of broadband investments
- Sturdy internet source of revenue and Adjusted EBITDA expansion
* Comparisons are 3Q’23 to 3Q’24 except in a different way famous
“We continue to strategically optimize our portfolio in order to focus our resources appropriately throughout the enterprise,” stated LeRoy T. Carlson, Jr., TDS President and CEO. “In the third quarter, TDS completed the sale of its OneNeck operations. In addition, TDS Telecom has entered into agreements to sell certain ILEC and cable properties. In October, as part of its ongoing process to opportunistically monetize its remaining spectrum, UScellular announced that it had entered into agreements to monetize select spectrum assets for $1 billion.
“UScellular’s 0.33 quarter effects display that the corporate is continuous to steadiness subscriber expansion with monetary self-discipline. And life it had postpaid handset internet losses within the quarter, the corporate noticed a important year-over-year growth in its subscriber trajectory.
“TDS Telecom is implementing its ongoing fiber expansion strategy and it reached a milestone of 50% of its service addresses passed with fiber.”
Introduced Transactions and Exploration of Strategic Choices for UScellular
On Might 28, 2024, Phone and Knowledge Programs, Inc. (TDS) and UScellular introduced that they’ve entered right into a definitive contract to promote UScellular’s wi-fi operations and make a selection spectrum property to T-Cellular. The transaction is anticipated to similar in mid-2025, topic to regulatory approvals and the pride of standard endmost situations.
The T-Cellular transaction excluded UScellular’s roughly 4,400 owned towers, its fairness mode investments, and roughly 70% of its spectrum property.
In October, UScellular introduced a sale of make a selection spectrum property to Verizon for a portion of the difference spectrum for $1 billion, and the sale of spare spectrum to 2 alternative cell community operators for an invisible worth. Every transaction is topic to regulatory approvals and the pride of standard endmost situations and contingent upon the similar of the proposed T-Cellular transaction. The method to opportunistically monetize the difference spectrum property continues.
2024 Estimated Effects
TDS’ up-to-date estimates of full-year 2024 effects for UScellular and TDS Telecom are proven under. Such estimates constitute control’s view as of November 1, 2024 and will have to now not be assumed to be up-to-date as of any presen future. TDS undertakes disagree accountability to replace such estimates, whether or not because of brandnew data, presen occasions, or in a different way. There may also be disagree oath that ultimate effects won’t fluctuate materially from estimated effects.
|
2024 Estimated Effects |
||
|
UScellular |
Earlier |
Wave |
|
(Greenbacks in thousands and thousands) |
||
|
Provider revenues |
$2,950-$3,050 |
$2,950-$3,000 |
|
Adjusted OIBDA1, 2 (Non-GAAP) |
$750-$850 |
$800-$875 |
|
Adjusted EBITDA1, 2 (Non-GAAP) |
$920-$1,020 |
$970-$1,045 |
|
Capital expenditures |
$550-$650 |
$550-$600 |
|
TDS Telecom |
Earlier |
Wave |
|
(Greenbacks in thousands and thousands) |
||
|
Overall running revenues |
$1,050-$1,080 |
Unchanged |
|
Adjusted OIBDA1 (Non-GAAP) |
$330-$360 |
Unchanged |
|
Adjusted EBITDA1 (Non-GAAP) |
$330-$360 |
Unchanged |
|
Capital expenditures |
$310-$340 |
Unchanged |
Refer to tables reconcile EBITDA, Adjusted EBITDA and Adjusted OIBDA to the corresponding GAAP measures, Web source of revenue (loss) or Source of revenue (loss) earlier than source of revenue taxes. In offering 2024 estimated effects, TDS has now not finished the under reconciliation to Web source of revenue (loss) as it does now not serve steering for source of revenue taxes. Even though probably important, TDS believes that the affect of source of revenue taxes can’t be rather predicted; due to this fact, TDS is not able to serve such steering.
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2024 Estimated Effects2 |
|||
|
UScellular |
TDS Telecom |
||
|
(Greenbacks in thousands and thousands) |
|||
|
Web source of revenue (GAAP) |
N/A |
N/A |
|
|
Upload again: |
|||
|
Source of revenue tax expense |
N/A |
N/A |
|
|
Source of revenue (loss) earlier than source of revenue taxes (GAAP) |
$(35)-$40 |
$60-$90 |
|
|
Upload again: |
|||
|
Hobby expense |
180 |
— |
|
|
Depreciation, amortization and accretion expense |
665 |
270 |
|
|
EBITDA (Non-GAAP)1 |
$810-$885 |
$330-$360 |
|
|
Upload again or deduct: |
|||
|
(Acquire) loss on asset disposals, internet |
20 |
— |
|
|
Adjusted EBITDA (Non-GAAP)1 |
$970-$1,045 |
$330-$360 |
|
|
Deduct: |
|||
|
Fairness in profits of unconsolidated entities |
160 |
— |
|
|
Hobby and dividend source of revenue |
10 |
— |
|
|
Adjusted OIBDA (Non-GAAP)1 |
$800-$875 |
$330-$360 |
|
|
Fresh Effects |
|||||||
|
9 Months Ended September 30, 2024 |
Time Ended December 31, 2023 |
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UScellular |
TDS Telecom |
UScellular |
TDS Telecom |
||||
|
(Greenbacks in thousands and thousands) |
|||||||
|
Web source of revenue (loss) (GAAP) |
$ (37) |
$ 51 |
$ 58 |
$ (483) |
|||
|
Upload again: |
|||||||
|
Source of revenue tax expense (receive advantages) |
29 |
15 |
53 |
(26) |
|||
|
Source of revenue (loss) earlier than source of revenue taxes (GAAP) |
$ (8) |
$ 66 |
$ 111 |
$ (509) |
|||
|
Upload again: |
|||||||
|
Hobby expense |
137 |
(4) |
196 |
(8) |
|||
|
Depreciation, amortization and accretion expense |
499 |
199 |
656 |
245 |
|||
|
EBITDA (Non-GAAP)1 |
$ 628 |
$ 261 |
$ 963 |
$ (272) |
|||
|
Upload again or deduct: |
|||||||
|
Bills similar to strategic possible choices evaluation |
28 |
— |
8 |
— |
|||
|
Loss on impairment of licenses |
136 |
— |
— |
— |
|||
|
Loss on impairment of commendation |
— |
— |
— |
547 |
|||
|
(Acquire) loss on asset disposals, internet |
14 |
8 |
17 |
10 |
|||
|
(Acquire) loss on license gross sales and exchanges, internet |
4 |
— |
(2) |
— |
|||
|
Adjusted EBITDA (Non-GAAP)1 |
$ 810 |
$ 269 |
$ 986 |
$ 285 |
|||
|
Deduct: |
|||||||
|
Fairness in profits of unconsolidated entities |
123 |
— |
158 |
— |
|||
|
Hobby and dividend source of revenue |
9 |
4 |
10 |
4 |
|||
|
Alternative, internet |
— |
3 |
— |
2 |
|||
|
Adjusted OIBDA (Non-GAAP)1 |
$ 678 |
$ 263 |
$ 818 |
$ 279 |
|||
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Numbers would possibly not substructure because of rounding. |
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1 |
EBITDA, Adjusted EBITDA and Adjusted OIBDA are outlined as internet source of revenue adjusted for the pieces eager forth within the reconciliation above. EBITDA, Adjusted EBITDA and Adjusted OIBDA don’t seem to be measures of monetary efficiency below Normally Authorized Accounting Rules in america (GAAP) and will have to now not be thought to be as possible choices to Web source of revenue or Money flows from running actions, as signs of money flows or as measures of liquidity. TDS does now not intend to suggest that this kind of pieces eager forth within the reconciliation above are rare or odd; such pieces might happen going forward. Control makes use of Adjusted EBITDA and Adjusted OIBDA as measurements of profitability, and due to this fact reconciliations to Web source of revenue are deemed suitable. Control believes Adjusted EBITDA and Adjusted OIBDA are helpful measures of TDS’ running effects earlier than important ordinary non-cash fees, nonrecurring bills, beneficial properties and losses, and alternative pieces as introduced above as they serve spare related and helpful data to buyers and alternative customers of TDS’ monetary knowledge in comparing the effectiveness of its operations and underlying trade traits in a way this is in keeping with control’s analysis of industrial efficiency. Adjusted EBITDA displays adjusted profits earlier than passion, taxes, depreciation, amortization and accretion, beneficial properties and losses, and bills similar to the strategic possible choices evaluation of UScellular life Adjusted OIBDA reduces this measure additional to exclude Fairness in profits of unconsolidated entities and Hobby and dividend source of revenue to deliver to extra successfully display the efficiency of running actions except for funding actions. The desk above reconciles EBITDA, Adjusted EBITDA and Adjusted OIBDA to the corresponding GAAP measure, Web source of revenue or Source of revenue earlier than source of revenue taxes. Alternative data and reconciliations similar to Non-GAAP monetary measures for September 30, 2024, may also be discovered on TDS’ site at buyers.tdsinc.com. |
|
2 |
2024 Estimated Effects don’t mirror any expected prices, bills or result of the strategic possible choices evaluation referenced above. |
Convention Name Data
TDS will store a convention name on November 1, 2024 at 9:00 a.m. Central Pace.
- Get entry to the decision by means of telephone at (888)330-2384, convention ID: 1328528.
Ahead of the decision, sure monetary and statistical data to be mentioned right through the decision might be posted to buyers.tdsinc.com. The decision might be archived at the Occasions & Displays web page of buyers.tdsinc.com.
About TDS
Phone and Knowledge Programs, Inc. (TDS) supplies wi-fi, broadband, video and tonality to roughly 6 million connections national thru its companies, UScellular and TDS Telecom. Based in 1969 and headquartered in Chicago, TDS hired roughly 8,000 buddies as of September 30, 2024.
Consult with buyers.tdsinc.com for complete monetary data, together with profits releases, quarterly and annual filings, shareholder data and extra.
Guard Harbor Commentary Below the Personal Securities Litigation Reform Work of 1995: All data eager forth on this information leave, excluding ancient and factual data, represents forward-looking statements. This contains all statements in regards to the corporation’s plans, ideals, estimates, and expectancies. Those statements are in keeping with up-to-date estimates, projections, and guesses, which contain sure dangers and uncertainties that might reason fresh effects to fluctuate materially from the ones within the forward-looking statements. Noteceable components that can have an effect on those forward-looking statements come with, however don’t seem to be restricted to: whether or not the introduced transactions wherein UScellular has assuredly to promote its wi-fi operations and decided on spectrum property might be effectively finished or whether or not UScellular will have the ability to to find patrons at mutually agreeable costs for its difference spectrum property; whether or not this kind of strategic backup will lead to spare price for TDS or its shareholders and whether or not the method could have an antagonistic affect on TDS’ companies; strategic selections in regards to the tower trade; intense festival; the power to procure or uphold roaming preparations with alternative carriers on appropriate phrases and adjustments in roaming practices; the power to procure get right of entry to to ample radio spectrum to satisfy up-to-date or expected presen wishes, together with participation in FCC auctions; the power to draw family of remarkable ability all the way through all ranges of the group; TDS’ smaller scale relative to greater competition; adjustments in call for, client personal tastes and perceptions, price war, or churn charges; advances in generation; affects of prices, integration issues or alternative components related to acquisitions, divestitures or exchanges of homes or wi-fi spectrum licenses and/or growth of TDS’ companies; the power of the corporate to effectively assemble and govern its networks; difficulties involving 0.33 events with which TDS does trade; uncertainties in TDS’ presen coins flows and liquidity and get right of entry to to the capital markets; the power to assemble bills on TDS and UScellular indebtedness or agree to the phrases of debt covenants; the impact on TDS’ trade if the collateral securing its fasten expression mortgage is foreclosed upon; situations within the U.S. telecommunications business; the worth of property and investments; the environment and federal regulatory atmosphere, together with adjustments in regulatory assistance won and the power to go thru sure regulatory charges to shoppers; pending and presen litigation; cyber-attacks or alternative breaches of community or data generation safety; keep watch over by means of the TDS Balloting Accept as true with; disruption in credit score or alternative monetary markets; deterioration of U.S. or international financial situations; and the affect, length and severity of crowd condition emergencies. Buyers are inspired to believe those and alternative dangers and uncertainties which might be extra totally described below “Risk Factors” in the latest submitting of TDS’ Mode 10-Okay, as up to date by means of any TDS Mode 10-Q filed next to such Mode 10-Okay.
For more info about TDS and its subsidiaries, discuss with:
TDS: www.tdsinc.com
UScellular: www.uscellular.com
TDS Telecom: www.tdstelecom.com
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UnitedStates Cell Company |
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|
Abstract Running Knowledge (Unaudited) |
|||||||||
|
As of or for the Quarter Ended |
9/30/2024 |
6/30/2024 |
3/31/2024 |
12/31/2023 |
9/30/2023 |
||||
|
Retail Connections |
|||||||||
|
Postpaid |
|||||||||
|
Overall at finish of duration1 |
3,999,000 |
4,027,000 |
4,051,000 |
4,106,000 |
4,159,000 |
||||
|
Rude additions |
123,000 |
117,000 |
106,000 |
129,000 |
128,000 |
||||
|
Handsets |
84,000 |
73,000 |
63,000 |
80,000 |
84,000 |
||||
|
Attached units |
39,000 |
44,000 |
43,000 |
49,000 |
44,000 |
||||
|
Web additions (losses)1 |
(28,000) |
(24,000) |
(44,000) |
(50,000) |
(35,000) |
||||
|
Handsets |
(28,000) |
(29,000) |
(47,000) |
(53,000) |
(38,000) |
||||
|
Attached units |
— |
5,000 |
3,000 |
3,000 |
3,000 |
||||
|
ARPU2 |
$ 52.04 |
$ 51.45 |
$ 51.96 |
$ 51.61 |
$ 51.11 |
||||
|
ARPA3 |
$ 131.81 |
$ 130.41 |
$ 132.00 |
$ 131.63 |
$ 130.91 |
||||
|
Handset improve price4 |
3.5 % |
4.1 % |
4.5 % |
5.8 % |
4.5 % |
||||
|
Churn price5 |
1.25 % |
1.16 % |
1.22 % |
1.44 % |
1.30 % |
||||
|
Handsets |
1.07 % |
0.97 % |
1.03 % |
1.22 % |
1.11 % |
||||
|
Attached units |
2.47 % |
2.47 % |
2.52 % |
3.03 % |
2.64 % |
||||
|
Pay as you go |
|||||||||
|
Overall at finish of duration1 |
452,000 |
439,000 |
436,000 |
451,000 |
462,000 |
||||
|
Rude additions |
57,000 |
50,000 |
41,000 |
43,000 |
52,000 |
||||
|
Web additions (losses)1 |
13,000 |
3,000 |
(13,000) |
(11,000) |
— |
||||
|
ARPU2, 6 |
$ 32.01 |
$ 32.37 |
$ 32.25 |
$ 32.32 |
$ 33.44 |
||||
|
Churn price5 |
3.30 % |
3.60 % |
4.06 % |
3.87 % |
3.68 % |
||||
|
Marketplace penetration at finish of duration |
|||||||||
|
Consolidated running community |
32,550,000 |
32,550,000 |
32,550,000 |
32,350,000 |
32,350,000 |
||||
|
Consolidated running penetration7 |
15 % |
15 % |
14 % |
15 % |
15 % |
||||
|
Capital expenditures (thousands and thousands) |
$ 120 |
$ 165 |
$ 131 |
$ 148 |
$ 111 |
||||
|
Overall cellular websites in provider |
7,007 |
6,990 |
6,995 |
7,000 |
6,973 |
||||
|
Owned towers |
4,407 |
4,388 |
4,382 |
4,373 |
4,356 |
||||
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Selection of colocations8 |
2,418 |
2,392 |
2,397 |
2,390 |
2,406 |
||||
|
Tower tenancy price9 |
1.55 |
1.55 |
1.55 |
1.55 |
1.55 |
||||
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1 |
First quarter 2024 connections have been adjusted to take away subscribers that might not get right of entry to the UScellular community because of the CDMA shutdown. This ended in 11,000 and a couple of,000 subscribers got rid of from the postpaid and pay as you go bottom, respectively, that don’t seem to be incorporated in Web additions (losses) for the quarter. |
|
2 |
Reasonable Earnings In step with Person (ARPU) – metric is calculated by means of dividing a earnings bottom by means of a mean choice of connections and by means of the choice of months within the duration. Those earnings bases and connection populations are proven under: |
|
• Postpaid ARPU is composed of general postpaid provider revenues and postpaid connections. |
|
|
• Pay as you go ARPU is composed of general pay as you go provider revenues and pay as you go connections. |
|
|
3 |
Reasonable Earnings In step with Account (ARPA) – metric is calculated by means of dividing general postpaid provider revenues by means of the typical choice of postpaid accounts and by means of the choice of months within the duration. |
|
4 |
Handset improve price calculated as general handset improve transactions divided by means of moderate postpaid handset connections. |
|
5 |
Churn price represents the proportion of the connections that disconnect provider each and every presen. Those charges constitute the typical per month churn price for each and every respective duration. |
|
6 |
Fourth quarter 2023 Pay as you go ARPU excludes a $6 million relief of pay as you go earnings similar to an adjustment to proper a previous duration error recorded within the fourth quarter of 2023. |
|
7 |
Marketplace penetration is calculated by means of dividing the choice of wi-fi connections on the finish of the duration by means of the entire estimated community of consolidated running markets. |
|
8 |
Represents circumstances the place a third-party wi-fi service rents or rentals range on a company-owned tower. |
|
9 |
Reasonable choice of tenants that hire range on company-owned towers, leisurely on a per-tower foundation. |
|
TDS Telecom |
|||||||||
|
Abstract Running Knowledge (Unaudited) |
|||||||||
|
As of or for the Quarter Ended |
9/30/2024 |
6/30/2024 |
3/31/2024 |
12/31/2023 |
9/30/2023 |
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|
Residential connections |
|||||||||
|
Broadband |
|||||||||
|
Incumbent |
241,500 |
243,700 |
245,100 |
244,800 |
248,800 |
||||
|
Enlargement |
115,300 |
107,800 |
100,400 |
92,200 |
79,400 |
||||
|
Cable |
195,900 |
198,500 |
202,400 |
202,900 |
204,400 |
||||
|
Overall Broadband1 |
552,700 |
550,000 |
547,900 |
539,800 |
532,600 |
||||
|
Video |
122,100 |
124,800 |
128,800 |
131,500 |
132,400 |
||||
|
Accentuation |
271,300 |
275,600 |
279,400 |
281,600 |
284,000 |
||||
|
Overall Residential connections |
946,100 |
950,400 |
956,100 |
952,900 |
949,000 |
||||
|
Industrial connections |
197,200 |
201,500 |
206,200 |
210,200 |
217,400 |
||||
|
Overall connections |
1,143,300 |
1,152,000 |
1,162,200 |
1,163,100 |
1,166,400 |
||||
|
Residential earnings according to connection2 |
$ 65.41 |
$ 65.26 |
$ 64.58 |
$ 62.74 |
$ 62.15 |
||||
|
Capital expenditures (thousands and thousands) |
$ 78 |
$ 78 |
$ 87 |
$ 143 |
$ 172 |
||||
|
Numbers would possibly not substructure because of rounding. |
|
|
1 |
Overall residential broadband connections larger by means of 8,100 right through the 3 months ended March 31, 2024, due essentially to internet additions of 6,400 in addition to sure alternative changes. |
|
2 |
Overall residential earnings according to connection is calculated by means of dividing general residential earnings by means of the typical choice of residential connections and by means of the choice of months within the duration. |
|
Phone and Knowledge Programs, Inc |
|||||||||||
|
Consolidated Commentary of Operations Highlights |
|||||||||||
|
(Unaudited) |
|||||||||||
|
3 Months Ended September 30, |
9 Months Ended September 30, |
||||||||||
|
2024 |
2023 |
2024 vs. 2023 |
2024 |
2023 |
2024 vs. 2023 |
||||||
|
(Greenbacks and stocks in thousands and thousands, excluding according to percentage quantities) |
|||||||||||
|
Running revenues |
|||||||||||
|
UScellular |
$ 922 |
$ 963 |
(4) % |
$ 2,799 |
$ 2,906 |
(4) % |
|||||
|
TDS Telecom |
263 |
256 |
2 % |
797 |
767 |
4 % |
|||||
|
All Alternative1 |
39 |
59 |
(33) % |
128 |
175 |
(27) % |
|||||
|
1,224 |
1,278 |
(4) % |
3,724 |
3,848 |
(3) % |
||||||
|
Running bills |
|||||||||||
|
UScellular |
|||||||||||
|
Bills except for depreciation, amortization and accretion |
707 |
746 |
(5) % |
2,149 |
2,285 |
(6) % |
|||||
|
Depreciation, amortization and accretion |
167 |
159 |
5 % |
499 |
490 |
2 % |
|||||
|
Loss on impairment of licenses |
136 |
— |
N/M |
136 |
— |
N/M |
|||||
|
(Acquire) loss on asset disposals, internet |
4 |
1 |
N/M |
14 |
14 |
4 % |
|||||
|
(Acquire) loss on license gross sales and exchanges, internet |
(2) |
— |
N/M |
4 |
— |
N/M |
|||||
|
1,012 |
906 |
12 % |
2,802 |
2,789 |
— |
||||||
|
TDS Telecom |
|||||||||||
|
Bills except for depreciation, amortization and accretion |
182 |
189 |
(4) % |
533 |
563 |
(5) % |
|||||
|
Depreciation, amortization and accretion |
68 |
61 |
11 % |
199 |
180 |
11 % |
|||||
|
(Acquire) loss on asset disposals, internet |
3 |
6 |
(52) % |
8 |
8 |
— |
|||||
|
252 |
256 |
(1) % |
741 |
752 |
(1) % |
||||||
|
All Alternative1 |
|||||||||||
|
Bills except for depreciation and amortization |
49 |
64 |
(22) % |
159 |
187 |
(14) % |
|||||
|
Depreciation and amortization |
3 |
5 |
(73) % |
6 |
11 |
(40) % |
|||||
|
(Acquire) loss on asset disposals, internet |
(1) |
(1) |
N/M |
1 |
— |
N/M |
|||||
|
(Acquire) loss on sale of industrial and alternative journey prices, internet |
(12) |
— |
N/M |
(12) |
— |
N/M |
|||||
|
40 |
68 |
(43) % |
154 |
197 |
(22) % |
||||||
|
Overall running bills |
1,304 |
1,230 |
6 % |
3,697 |
3,738 |
(1) % |
|||||
|
Running source of revenue (loss) |
|||||||||||
|
UScellular |
(90) |
57 |
N/M |
(3) |
117 |
N/M |
|||||
|
TDS Telecom |
10 |
— |
N/M |
56 |
15 |
N/M |
|||||
|
All Alternative1 |
— |
(9) |
N/M |
(26) |
(22) |
(18) % |
|||||
|
(80) |
48 |
N/M |
27 |
110 |
(76) % |
||||||
|
Funding and alternative source of revenue (expense) |
|||||||||||
|
Fairness in profits of unconsolidated entities |
43 |
40 |
9 % |
125 |
122 |
3 % |
|||||
|
Hobby and dividend source of revenue |
8 |
5 |
51 % |
20 |
16 |
25 % |
|||||
|
Hobby expense |
(76) |
(62) |
(22) % |
(208) |
(178) |
(17) % |
|||||
|
Alternative, internet |
1 |
— |
N/M |
3 |
1 |
N/M |
|||||
|
Overall funding and alternative expense |
(24) |
(17) |
(41) % |
(60) |
(39) |
(52) % |
|||||
|
Source of revenue (loss) earlier than source of revenue taxes |
(104) |
31 |
N/M |
(33) |
71 |
N/M |
|||||
|
Source of revenue tax expense (receive advantages) |
(25) |
27 |
N/M |
1 |
55 |
(98) % |
|||||
|
Web source of revenue (loss) |
(79) |
4 |
N/M |
(34) |
16 |
N/M |
|||||
|
Much less: Web source of revenue (loss) because of noncontrolling pursuits, internet of tax |
(13) |
4 |
N/M |
— |
10 |
N/M |
|||||
|
Web source of revenue (loss) because of TDS shareholders |
(66) |
— |
N/M |
(34) |
6 |
N/M |
|||||
|
TDS Most well-liked Percentage dividends |
17 |
17 |
— |
52 |
52 |
— |
|||||
|
Web source of revenue (loss) because of TDS familiar shareholders |
$ (83) |
$ (17) |
N/M |
$ (86) |
$ (46) |
(86) % |
|||||
|
Unadorned weighted moderate stocks remarkable |
114 |
113 |
1 % |
114 |
113 |
1 % |
|||||
|
Unadorned profits (loss) according to percentage because of TDS familiar shareholders |
$ (0.73) |
$ (0.16) |
N/M |
$ (0.75) |
$ (0.41) |
(85) % |
|||||
|
Diluted weighted moderate stocks remarkable |
114 |
113 |
1 % |
114 |
113 |
1 % |
|||||
|
Diluted profits (loss) according to percentage because of TDS familiar shareholders |
$ (0.73) |
$ (0.16) |
N/M |
$ (0.75) |
$ (0.41) |
(83) % |
|||||
|
N/M – Proportion exchange now not significant. |
|
|
Numbers would possibly not substructure because of rounding. |
|
|
1 |
Is composed of TDS company, intercompany eliminations and all alternative trade operations now not incorporated within the UScellular and TDS Telecom sections. |
|
Phone and Knowledge Programs, Inc |
|||
|
Consolidated Commentary of Money Flows |
|||
|
(Unaudited) |
|||
|
9 Months Ended September 30, |
|||
|
2024 |
2023 |
||
|
(Greenbacks in thousands and thousands) |
|||
|
Money flows from running actions |
|||
|
Web source of revenue (loss) |
$ (34) |
$ 16 |
|
|
Upload (deduct) changes to reconcile internet source of revenue (loss) to internet coins flows from running actions |
|||
|
Depreciation, amortization and accretion |
704 |
681 |
|
|
Wicked money owed expense |
72 |
77 |
|
|
Keep-based reimbursement expense |
48 |
27 |
|
|
Deferred source of revenue taxes, internet |
(15) |
38 |
|
|
Fairness in profits of unconsolidated entities |
(125) |
(122) |
|
|
Distributions from unconsolidated entities |
106 |
97 |
|
|
Loss on impairment of licenses |
136 |
— |
|
|
(Acquire) loss on asset disposals, internet |
23 |
22 |
|
|
(Acquire) loss on sale of industrial and alternative journey prices, internet |
(12) |
— |
|
|
(Acquire) loss on license gross sales and exchanges, internet |
4 |
— |
|
|
Alternative running actions |
6 |
4 |
|
|
Adjustments in property and liabilities from operations |
|||
|
Accounts receivable |
33 |
11 |
|
|
Apparatus installment plans receivable |
12 |
20 |
|
|
Stock |
37 |
87 |
|
|
Accounts payable |
3 |
(36) |
|
|
Buyer deposits and deferred revenues |
(3) |
(15) |
|
|
Collected taxes |
16 |
72 |
|
|
Collected passion |
13 |
8 |
|
|
Alternative property and liabilities |
(91) |
(64) |
|
|
Web coins equipped by means of running actions |
933 |
923 |
|
|
Money flows from making an investment actions |
|||
|
Money paid for additions to detail, plant and kit |
(655) |
(906) |
|
|
Money paid for licenses |
(17) |
(24) |
|
|
Money won from divestitures |
91 |
— |
|
|
Alternative making an investment actions |
1 |
8 |
|
|
Web coins old in making an investment actions |
(580) |
(922) |
|
|
Money flows from financing actions |
|||
|
Issuance of long-term debt |
440 |
781 |
|
|
Reimbursement of long-term debt |
(408) |
(664) |
|
|
Reimbursement of non permanent debt |
— |
(60) |
|
|
Tax bills for TDS stock-based reimbursement awards |
(10) |
(3) |
|
|
Tax bills for UScellular stock-based reimbursement awards |
(11) |
(6) |
|
|
Repurchase of TDS Usual Stocks |
— |
(6) |
|
|
Repurchase of UScellular Usual Stocks |
(26) |
— |
|
|
Dividends paid to TDS shareholders |
(83) |
(114) |
|
|
Cost of debt issuance prices |
(16) |
(4) |
|
|
Distributions to noncontrolling pursuits |
(4) |
(2) |
|
|
Money paid for device license promises |
(32) |
(29) |
|
|
Alternative financing actions |
(1) |
— |
|
|
Web coins old in financing actions |
(151) |
(107) |
|
|
Web build up (short) in coins, coins equivalents and limited coins |
202 |
(106) |
|
|
Money, coins equivalents and limited coins |
|||
|
Starting of duration |
270 |
399 |
|
|
Finish of duration |
$ 472 |
$ 293 |
|
|
Phone and Knowledge Programs, Inc |
|||
|
Consolidated Stability Sheet Highlights |
|||
|
(Unaudited) |
|||
|
ASSETS |
|||
|
September 30, 2024 |
December 31, 2023 |
||
|
(Greenbacks in thousands and thousands) |
|||
|
Wave property |
|||
|
Money and coins equivalents |
$ 451 |
$ 236 |
|
|
Accounts receivable, internet |
997 |
1,074 |
|
|
Stock, internet |
167 |
208 |
|
|
Pay as you go bills |
88 |
86 |
|
|
Source of revenue taxes receivable |
3 |
4 |
|
|
Alternative up-to-date property |
40 |
52 |
|
|
Overall up-to-date property |
1,746 |
1,660 |
|
|
Belongings held on the market |
17 |
15 |
|
|
Licenses |
4,586 |
4,702 |
|
|
Alternative intangible property, internet |
168 |
183 |
|
|
Investments in unconsolidated entities |
524 |
505 |
|
|
Component, plant andapparatus, internet |
4,987 |
5,062 |
|
|
Running hire right-of-use property |
970 |
987 |
|
|
Alternative property and deferred fees |
728 |
807 |
|
|
Overall property |
$ 13,726 |
$ 13,921 |
|
|
Phone and Knowledge Programs, Inc |
|||
|
Consolidated Stability Sheet Highlights |
|||
|
(Unaudited) |
|||
|
LIABILITIES AND EQUITY |
|||
|
September 30, 2024 |
December 31, 2023 |
||
|
(Greenbacks in thousands and thousands, excluding according to percentage quantities) |
|||
|
Wave liabilities |
|||
|
Wave portion of long-term debt |
$ 29 |
$ 26 |
|
|
Accounts payable |
334 |
360 |
|
|
Buyer deposits and deferred revenues |
270 |
277 |
|
|
Collected passion |
26 |
12 |
|
|
Collected taxes |
49 |
43 |
|
|
Collected reimbursement |
107 |
149 |
|
|
Cut-term running hire liabilities |
151 |
147 |
|
|
Alternative up-to-date liabilities |
132 |
170 |
|
|
Overall up-to-date liabilities |
1,098 |
1,184 |
|
|
Liabilities held on the market |
7 |
— |
|
|
Deferred liabilities and credit |
|||
|
Deferred source of revenue tax legal responsibility, internet |
961 |
975 |
|
|
Lengthy-term running hire liabilities |
862 |
890 |
|
|
Alternative deferred liabilities and credit |
812 |
784 |
|
|
Lengthy-term debt, internet |
4,097 |
4,080 |
|
|
Noncontrolling pursuits with redemption options |
16 |
12 |
|
|
Fairness |
|||
|
TDS shareholders’ fairness |
|||
|
Layout A Usual and Usual Stocks, par price $0.01 according to percentage |
1 |
1 |
|
|
Capital in profusion of par price |
2,557 |
2,558 |
|
|
Most well-liked Stocks, par price $0.01 according to percentage |
1,074 |
1,074 |
|
|
Treasury stocks, at price |
(433) |
(465) |
|
|
Collected alternative complete source of revenue |
11 |
11 |
|
|
Retained profits |
1,865 |
2,023 |
|
|
Overall TDS shareholders’ fairness |
5,075 |
5,202 |
|
|
Noncontrolling pursuits |
798 |
794 |
|
|
Overall fairness |
5,873 |
5,996 |
|
|
Overall liabilities and fairness |
$ 13,726 |
$ 13,921 |
|
|
Stability Sheet Highlights |
|||||||||
|
(Unaudited) |
|||||||||
|
September 30, 2024 |
|||||||||
|
TDS |
TDS Company |
Intercompany |
TDS |
||||||
|
UScellular |
Telecom |
& Alternative |
Eliminations |
Consolidated |
|||||
|
(Greenbacks in thousands and thousands) |
|||||||||
|
Money and coins equivalents |
$ 272 |
$ 83 |
$ 175 |
$ (79) |
$ 451 |
||||
|
Licenses and alternative intangible property |
$ 4,576 |
$ 173 |
$ 5 |
$ — |
$ 4,754 |
||||
|
Funding in unconsolidated entities |
478 |
4 |
50 |
(8) |
524 |
||||
|
$ 5,054 |
$ 177 |
$ 55 |
$ (8) |
$ 5,278 |
|||||
|
Component, plant and kit, internet |
$ 2,504 |
$ 2,465 |
$ 18 |
$ — |
$ 4,987 |
||||
|
Lengthy-term debt, internet: |
|||||||||
|
Wave portion |
$ 20 |
$ — |
$ 9 |
$ — |
$ 29 |
||||
|
Non-current portion |
2,882 |
3 |
1,212 |
— |
4,097 |
||||
|
$ 2,902 |
$ 3 |
$ 1,221 |
$ — |
$ 4,126 |
|||||
|
United States Cell Company Area Effects (Unaudited) |
|||||||||||
|
3 Months Ended September 30, |
9 Months Ended |
||||||||||
|
UScellular |
2024 |
2023 |
2024 |
2024 |
2023 |
2024 |
|||||
|
(Greenbacks in thousands and thousands) |
|||||||||||
|
Running Revenues |
|||||||||||
|
Wi-fi |
$ 896 |
$ 938 |
(4) % |
$ 2,722 |
$ 2,831 |
(4) % |
|||||
|
Towers |
59 |
57 |
2 % |
175 |
170 |
3 % |
|||||
|
Intra-company eliminations |
(33) |
(32) |
(3) % |
(98) |
(95) |
(3) % |
|||||
|
Overall running revenues |
922 |
963 |
(4) % |
2,799 |
2,906 |
(4) % |
|||||
|
Running bills |
|||||||||||
|
Wi-fi |
1,005 |
900 |
12 % |
2,784 |
2,770 |
1 % |
|||||
|
Towers |
40 |
38 |
4 % |
116 |
114 |
1 % |
|||||
|
Intra-company eliminations |
(33) |
(32) |
(3) % |
(98) |
(95) |
(3) % |
|||||
|
Overall running bills |
1,012 |
906 |
12 % |
2,802 |
2,789 |
— |
|||||
|
Running source of revenue (loss) |
$ (90) |
$ 57 |
N/M |
$ (3) |
$ 117 |
N/M |
|||||
|
Adjusted OIBDA (Non-GAAP) |
$ 222 |
$ 220 |
1 % |
$ 678 |
$ 624 |
9 % |
|||||
|
Adjusted EBITDA (Non-GAAP) |
$ 269 |
$ 263 |
3 % |
$ 810 |
$ 753 |
8 % |
|||||
|
Capital expenditures |
$ 120 |
$ 111 |
8 % |
$ 415 |
$ 462 |
(10) % |
|||||
|
N/M – Proportion exchange now not significant |
|
United States Cell Company Area Effects (Unaudited) |
|||||||||||
|
3 Months Ended |
9 Months Ended |
||||||||||
|
UScellular Wi-fi |
2024 |
2023 |
2024 |
2024 |
2023 |
2024 |
|||||
|
(Greenbacks in thousands and thousands) |
|||||||||||
|
Retail provider |
$ 669 |
$ 687 |
(3) % |
$ 2,014 |
$ 2,065 |
(2) % |
|||||
|
Alternative |
52 |
50 |
5 % |
154 |
149 |
4 % |
|||||
|
Provider revenues |
721 |
737 |
(2) % |
2,168 |
2,214 |
(2) % |
|||||
|
Apparatus gross sales |
175 |
201 |
(13) % |
554 |
617 |
(10) % |
|||||
|
Overall running revenues |
896 |
938 |
(4) % |
2,722 |
2,831 |
(4) % |
|||||
|
Machine operations (except for Depreciation, amortization and |
193 |
199 |
(3) % |
582 |
597 |
(2) % |
|||||
|
Value of kit offered |
203 |
228 |
(11) % |
630 |
708 |
(11) % |
|||||
|
Promoting, common and administrative |
316 |
324 |
(3) % |
953 |
995 |
(4) % |
|||||
|
Depreciation, amortization and accretion |
155 |
148 |
5 % |
466 |
456 |
2 % |
|||||
|
Loss on impairment of licenses |
136 |
— |
N/M |
136 |
— |
N/M |
|||||
|
(Acquire) loss on asset disposals, internet |
4 |
1 |
N/M |
13 |
14 |
(1) % |
|||||
|
(Acquire) loss on license gross sales and exchanges, internet |
(2) |
— |
N/M |
4 |
— |
N/M |
|||||
|
Overall running bills |
1,005 |
900 |
12 % |
2,784 |
2,770 |
1 % |
|||||
|
Running source of revenue (loss) |
$ (109) |
$ 38 |
N/M |
$ (62) |
$ 61 |
N/M |
|||||
|
Adjusted OIBDA (Non-GAAP) |
$ 191 |
$ 190 |
1 % |
$ 583 |
$ 534 |
9 % |
|||||
|
Adjusted EBITDA (Non-GAAP) |
$ 191 |
$ 190 |
1 % |
$ 583 |
$ 534 |
9 % |
|||||
|
Capital expenditures |
$ 114 |
$ 106 |
7 % |
$ 400 |
$ 452 |
(12) % |
|||||
|
3 Months Ended September 30, |
9 Months Ended |
||||||||||
|
UScellular Towers |
2024 |
2023 |
2024 |
2024 |
2023 |
2024 |
|||||
|
(Greenbacks in thousands and thousands) |
|||||||||||
|
3rd-party revenues |
$ 26 |
$ 25 |
1 % |
$ 77 |
$ 75 |
2 % |
|||||
|
Intra-company revenues |
33 |
32 |
3 % |
98 |
95 |
3 % |
|||||
|
Overall tower revenues |
59 |
57 |
2 % |
175 |
170 |
3 % |
|||||
|
Machine operations (except for Depreciation, amortization and |
20 |
18 |
10 % |
58 |
55 |
4 % |
|||||
|
Promoting, common and administrative |
8 |
9 |
(14) % |
24 |
25 |
(7) % |
|||||
|
Depreciation, amortization and accretion |
12 |
11 |
7 % |
33 |
34 |
(1) % |
|||||
|
(Acquire) loss on asset disposals, internet |
— |
— |
N/M |
1 |
— |
N/M |
|||||
|
Overall running bills |
40 |
38 |
4 % |
116 |
114 |
1 % |
|||||
|
Running source of revenue |
$ 19 |
$ 19 |
(1) % |
$ 59 |
$ 56 |
7 % |
|||||
|
Adjusted OIBDA (Non-GAAP) |
$ 31 |
$ 30 |
3 % |
$ 95 |
$ 90 |
6 % |
|||||
|
Adjusted EBITDA (Non-GAAP) |
$ 31 |
$ 30 |
3 % |
$ 95 |
$ 90 |
6 % |
|||||
|
Capital expenditures |
$ 6 |
$ 5 |
33 % |
$ 15 |
$ 10 |
61 % |
|||||
|
N/M – Proportion exchange now not significant |
|
TDS Telecom Highlights |
|||||||||||
|
(Unaudited) |
|||||||||||
|
3 Months Ended September 30, |
9 Months Ended September 30, |
||||||||||
|
2024 |
2023 |
2024 |
2024 |
2023 |
2024 |
||||||
|
(Greenbacks in thousands and thousands) |
|||||||||||
|
Running revenues |
|||||||||||
|
Residential |
|||||||||||
|
Incumbent |
$ 90 |
$ 89 |
1 % |
$ 269 |
$ 264 |
2 % |
|||||
|
Enlargement |
29 |
20 |
46 % |
83 |
52 |
58 % |
|||||
|
Cable |
67 |
68 |
(2) % |
206 |
204 |
1 % |
|||||
|
Overall residential |
186 |
177 |
5 % |
558 |
521 |
7 % |
|||||
|
Industrial |
36 |
38 |
(4) % |
110 |
118 |
(7) % |
|||||
|
Wholesale |
40 |
42 |
(3) % |
128 |
127 |
1 % |
|||||
|
Overall provider revenues |
262 |
256 |
2 % |
796 |
766 |
4 % |
|||||
|
Apparatus revenues |
— |
— |
(6) % |
1 |
1 |
(10) % |
|||||
|
Overall running revenues |
263 |
256 |
2 % |
797 |
767 |
4 % |
|||||
|
Value of services and products |
101 |
107 |
(6) % |
297 |
319 |
(7) % |
|||||
|
Value of kit and merchandise |
— |
— |
26 % |
1 |
— |
4 % |
|||||
|
Promoting, common and administrative bills |
81 |
82 |
(1) % |
236 |
244 |
(3) % |
|||||
|
Depreciation, amortization and accretion |
68 |
61 |
11 % |
199 |
180 |
11 % |
|||||
|
(Acquire) loss on asset disposals, internet |
3 |
6 |
(52) % |
8 |
8 |
— |
|||||
|
Overall running bills |
252 |
256 |
(1) % |
741 |
752 |
(1) % |
|||||
|
Running source of revenue |
$ 10 |
$ — |
N/M |
$ 56 |
$ 15 |
N/M |
|||||
|
N/M – Proportion exchange now not significant |
|
|
Numbers would possibly not substructure because of rounding. |
|
|
Phone and Knowledge Programs, Inc Monetary Measures (Unaudited) Separate Money Tide |
|||||||
|
3 Months Ended September 30, |
9 Months Ended September 30, |
||||||
|
TDS – CONSOLIDATED |
2024 |
2023 |
2024 |
2023 |
|||
|
(Greenbacks in thousands and thousands) |
|||||||
|
Money flows from running actions (GAAP) |
$ 306 |
$ 408 |
$ 933 |
$ 923 |
|||
|
Money paid for additions to detail, plant and kit |
(203) |
(278) |
(655) |
(906) |
|||
|
Money paid for device license promises |
(11) |
(9) |
(32) |
(29) |
|||
|
Separate coins current (Non-GAAP)1 |
$ 92 |
$ 121 |
$ 246 |
$ (12) |
|||
|
3 Months Ended September 30, |
9 Months Ended September 30, |
||||||
|
UScellular |
2024 |
2023 |
2024 |
2023 |
|||
|
(Greenbacks in thousands and thousands) |
|||||||
|
Money flows from running actions (GAAP) |
$ 245 |
$ 329 |
$ 761 |
$ 719 |
|||
|
Money paid for additions to detail, plant and kit |
(129) |
(103) |
(399) |
(454) |
|||
|
Money paid for device license promises |
(11) |
(9) |
(31) |
(28) |
|||
|
Separate coins current (Non-GAAP)1 |
$ 105 |
$ 217 |
$ 331 |
$ 237 |
|||
|
1 |
Separate coins current is a non-GAAP monetary measure which TDS believes could also be helpful to buyers and alternative customers of its monetary data in comparing liquidity, in particular, the amount of internet coins generated by means of trade operations nearest deducting Money paid for additions to detail, plant and kit and Money paid for device license promises. |
|
Licenses impairment, internet of tax |
|||||||
|
Refer to non-GAAP monetary measure isolates the entire results on internet source of revenue of the up-to-date duration Loss on impairment of intangible property at UScellular, together with tax affects. TDS believes this measure could also be helpful to buyers and alternative customers of its monetary data to lend a hand in evaluating the up-to-date duration monetary effects with classes that weren’t impacted by means of any such price. |
|||||||
|
3 Months Ended |
9 Months Ended |
||||||
|
2024 |
2023 |
2024 |
2023 |
||||
|
(Greenbacks in thousands and thousands) |
|||||||
|
Web loss because of TDS familiar shareholders (GAAP) |
$ (83) |
$ (17) |
$ (86) |
$ (46) |
|||
|
Changes: |
|||||||
|
Loss on impairment of licenses |
136 |
— |
136 |
— |
|||
|
Deferred tax receive advantages at the tax-amortizable portion of the |
(34) |
— |
(34) |
— |
|||
|
UScellular noncontrolling crowd shareholders’ portion of the |
(17) |
— |
(17) |
— |
|||
|
Subtotal of Non-GAAP changes |
85 |
— |
85 |
— |
|||
|
Web source of revenue (loss) because of TDS familiar shareholders |
2 |
(17) |
(1) |
(46) |
|||
|
Noncontrolling passion adjustment to compute diluted profits |
(1) |
(1) |
(1) |
— |
|||
|
Web source of revenue (loss) because of TDS familiar shareholders |
$ 1 |
$ (18) |
$ (2) |
$ (46) |
|||
|
Diluted weighted moderate stocks remarkable old for diluted |
114 |
113 |
114 |
113 |
|||
|
Diluted weighted moderate stocks remarkable old for diluted |
117 |
113 |
114 |
113 |
|||
|
Diluted profits (loss) according to percentage because of TDS |
$ (0.73) |
$ (0.16) |
$ (0.75) |
$ (0.41) |
|||
|
Changes: |
|||||||
|
Loss on impairment of licenses |
1.18 |
— |
1.19 |
— |
|||
|
Deferred tax receive advantages at the tax-amortizable portion of the |
(0.29) |
— |
(0.30) |
— |
|||
|
UScellular noncontrolling crowd shareholders’ portion of the |
(0.15) |
— |
(0.16) |
— |
|||
|
Diluted profits (loss) according to percentage because of TDS familiar |
$ 0.01 |
$ (0.16) |
$ (0.02) |
$ (0.41) |
|||
|
Phone and Knowledge Programs, Inc. |
|||
|
Refer to desk reconciles EBITDA, Adjusted EBITDA and Adjusted OIBDA to the corresponding GAAP measures, Web source of revenue and Source of revenue earlier than source of revenue taxes |
|||
|
3 Months Ended September 30, |
|||
|
TDS TELECOM |
2024 |
2023 |
|
|
(Greenbacks in thousands and thousands) |
|||
|
Web source of revenue (GAAP) |
$ 9 |
$ 4 |
|
|
Upload again: |
|||
|
Source of revenue tax expense |
4 |
— |
|
|
Source of revenue earlier than source of revenue taxes (GAAP) |
14 |
4 |
|
|
Upload again: |
|||
|
Hobby expense |
(1) |
(2) |
|
|
Depreciation, amortization and accretion |
68 |
61 |
|
|
EBITDA (Non-GAAP) |
80 |
63 |
|
|
Upload again or deduct: |
|||
|
(Acquire) loss on asset disposals, internet |
3 |
6 |
|
|
Adjusted EBITDA (Non-GAAP) |
83 |
68 |
|
|
Deduct: |
|||
|
Hobby and dividend source of revenue |
1 |
1 |
|
|
Alternative, internet |
1 |
— |
|
|
Adjusted OIBDA (Non-GAAP) |
$ 81 |
$ 67 |
|
|
Numbers would possibly not substructure because of rounding. |
SOURCE Phone and Knowledge Programs, Inc.
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