TDS Files Q2 2024 10-Q Amendment

Ticker: TDS-PV · Form: 10-Q/A · Filed: Aug 5, 2024 · CIK: 1051512

Telephone & Data Systems Inc /De/ 10-Q/A Filing Summary
FieldDetail
CompanyTelephone & Data Systems Inc /De/ (TDS-PV)
Form Type10-Q/A
Filed DateAug 5, 2024
Risk Levellow
Pages16
Reading Time19 min
Key Dollar Amounts$4,400 m, $2,000 million, $21 million, $33 m, $17 million
Sentimentneutral

Sentiment: neutral

Topics: 10-Q/A, amendment, financials, telecom

TL;DR

TDS amended its Q2 10-Q, showing updated financials for services & products.

AI Summary

Telephone & Data Systems Inc. (TDS) filed an amended 10-Q for the period ending June 30, 2024. The filing includes financial data for the second quarter and the first half of the year, detailing revenues and expenses related to their services and products. Specific figures for revenue, cost of services, and operating income are presented for the three months and six months ended June 30, 2024, compared to the prior year.

Why It Matters

This amended filing provides updated financial performance details for TDS, allowing investors to assess the company's operational and financial health for the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine amendment to a quarterly filing, not indicating new material adverse events.

Key Numbers

  • 0.04 — Revenue (Q2 2024 revenue figure)
  • 0.185 — Cost of Services (Q2 2024 cost of services)
  • 0.23 — Operating Income (Q2 2024 operating income)
  • 0.37 — Net Income (Q2 2024 net income)

Key Players & Entities

  • TELEPHONE & DATA SYSTEMS INC /DE/ (company) — Filer of the 10-Q/A
  • 20240630 (date) — Period of report for the 10-Q/A
  • 30 NORTH LASALLE STREET STE 4000 CHICAGO IL 60602 (address) — Business and mailing address of the company

FAQ

What is the primary purpose of this 10-Q/A filing?

This filing is an amendment to the quarterly report (10-Q) for the period ending June 30, 2024, likely to correct or supplement previously filed information.

What fiscal period does this amended 10-Q cover?

The amended 10-Q covers the period ending June 30, 2024, specifically the second quarter and the first half of the fiscal year.

What are the key financial metrics presented for Q2 2024?

The filing presents figures for revenue (0.04), cost of services (0.185), operating income (0.23), and net income (0.37) for the three months ended June 30, 2024.

How does the company categorize its revenue streams?

The filing breaks down revenue into 'Service Member' and 'Product Member' categories for the periods presented.

When was this amended filing submitted?

The filing was submitted on August 5, 2024, with a date as of change of August 2, 2024.

Filing Stats: 4,661 words · 19 min read · ~16 pages · Grade level 15.2 · Accepted 2024-08-02 17:38:34

Key Financial Figures

  • $4,400 m — n the Securities Purchase Agreement, of $4,400 million, which is payable in a combinatio
  • $2,000 million — d the assumption of up to approximately $2,000 million in debt. The transaction is expected to
  • $21 million — 4, TDS incurred third-party expenses of $21 million and $33 million, respectively, related
  • $33 m — third-party expenses of $21 million and $33 million, respectively, related to the str
  • $17 million — tnership) contributed pre-tax income of $17 million and $18 million for the three months en
  • $18 million — buted pre-tax income of $17 million and $18 million for the three months ended June 30, 202
  • $33 million — une 30, 2024 and 2023, respectively and $33 million and $38 million for the six months ende
  • $38 million — 2023, respectively and $33 million and $38 million for the six months ended June 30, 2024

Filing Documents

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 36

Financial Statements (Unaudited)

Financial Statements (Unaudited) 37 Consolidated Statement of Operations 37 Consolidated Statement of Cash Flows 38 Consolidated Balance Sheet 39 Consolidated Statement of Changes in Equity 41

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 45

Controls and Procedures

Controls and Procedures 62

Legal Proceedings

Legal Proceedings 62 Unregistered Sales of Equity Securities and Use of Proceeds 62 Other Information 63 Exhibits 64 Form 10-Q Cross Reference Index 65

Signatures

Signatures 66 Table of Contents Telephone and Data Systems, Inc.

Management's Discussion and Analysis of

Management's Discussion and Analysis of Financial Condition and Results of Operations Executive Overview The following discussion and analysis compares Telephone and Data Systems, Inc.'s (TDS) financial results for the three and six months ended June 30, 2024, to the three and six months ended June 30, 2023. It should be read in conjunction with TDS' interim consolidated financial statements and notes included herein, and with the description of TDS' business, its audited consolidated financial statements and Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) included in TDS' Annual Report on Form 10-K (Form 10-K) for the year ended December 31, 2023. Certain numbers included herein are rounded to millions for ease of presentation; however, certain calculated amounts and percentages are determined using the unrounded numbers. This report contains statements that are not based on historical facts, which may be identified by words such as "believes," "anticipates," "estimates," "expects," "plans," "intends," "projects," "will" and similar expressions. These statements constitute and represent "forward looking statements" as this term is defined in the Private Securities Litigation Reform Act of 1995. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be significantly different from any future results, events or developments expressed or implied by such forward looking statements. See the disclosure under the heading Private Securities Litigation Reform Act of 1995 Safe Harbor Cautionary Statement elsewhere in this report for additional information. The accounting policies of TDS conform to accounting principles generally accepted in the United States of America (GAAP). However, TDS uses certain "non-GAAP financial measures" in the MD&A. A discussion of the reasons TDS determines these metrics to be useful and reconcilia

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