TDS Files 8-K for Operations and Financial Updates

TL;DR

TDS dropped an 8-K on July 16th - check it for financial and operational updates.

AI Summary

On July 16, 2024, Telephone and Data Systems, Inc. (TDS) filed an 8-K to report on its results of operations and financial condition. The filing also includes information regarding Regulation FD disclosures and financial statements and exhibits. No specific financial figures or operational details were provided in the excerpt.

Why It Matters

This filing indicates that Telephone and Data Systems, Inc. is providing updates on its financial performance and operational status to the public.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of operational and financial information without any immediate negative or positive financial implications mentioned.

Key Players & Entities

• TELEPHONE AND DATA SYSTEMS, INC. (company) — Registrant
• July 16, 2024 (date) — Date of earliest event reported
• 30 North LaSalle Street, Suite 4000 (address) — Principal executive offices
• Chicago, Illinois 60602 (location) — Principal executive offices

FAQ

Key Financial Figures

• $4.4 b — select spectrum assets to T-Mobile for $4.4 billion, payable in cash and the assumpti

Filing Documents

• tds-20240716.htm (8-K) — 38KB
• tds-20240716_g1.jpg (GRAPHIC) — 19KB
• 0001051512-24-000046.txt ( ) — 256KB
• tds-20240716.xsd (EX-101.SCH) — 3KB
• tds-20240716_def.xml (EX-101.DEF) — 16KB
• tds-20240716_lab.xml (EX-101.LAB) — 29KB
• tds-20240716_pre.xml (EX-101.PRE) — 16KB
• tds-20240716_htm.xml (XML) — 5KB

02. Results of Operations and Financial Condition

Item 2.02. Results of Operations and Financial Condition As previously announced, on May 24, 2024, Telephone and Data Systems, Inc. (TDS), United States Cellular Corporation (UScellular), T-Mobile US, Inc. (T-Mobile) and USCC Wireless Holdings, LLC entered into a Securities Purchase Agreement (Purchase Agreement) pursuant to which, among other items, UScellular has agreed to sell its wireless operations and select spectrum assets to T-Mobile for $4.4 billion, payable in cash and the assumption of certain debt, subject to certain potential adjustments as further described in the Purchase Agreement (Transaction). In its Annual Report on Form 10-K for the year ended December 31, 2023 and its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, TDS reported its operations in two reportable segments - UScellular and TDS Telecom. Due to the planned disposal of the UScellular wireless operations pursuant to the Purchase Agreement, TDS is disaggregating its reportable segments to provide relevant financial information for both internal reporting and external reporting purposes. Effective for the quarter ending June 30, 2024, TDS will have three reportable segments: "UScellular Wireless": Operation of wireless network and provision of wireless services in markets throughout the United States "UScellular Towers": Operation of owned cell towers to lease space to wireless carriers, including the Wireless business as well as third-party carriers "TDS Telecom": Operation of broadband and communication services through fiber, coaxial and copper networks (this segment is unchanged from the prior segment structure) The historical financial performance under the new UScellular segment structure for the quarterly and annual periods of 2022, 2023 and 2024 are disclosed in UScellular's Form 8-K dated July 16, 2024, which Form 8-K is incorporated by reference herein, and is incorporated as an Exhibit to this Form 8-K. This information includes certain non-GAAP f

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure UScellular made available an investor presentation to provide additional details on its tower operations in the context of the Transaction. A copy of the investor presentation is furnished with UScellular's Form 8-K dated July 16, 2024 , which Form 8-K is incorporated by reference herein, and is incorporated as an Exhibit to this Form 8-K.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibit Number Description of Exhibits 99.1 Supplemental segment financial information (furnished pursuant to Item 2.02 of this Current Report on Form 8-K) is hereby incorporated by reference to Exhibit 99.1 to UScellular's Current Report on Form 8-K dated July 16, 2024. 99.2 Investor Presentation, dated July 16, 2024 (furnished pursuant to Item 7.01 of this Current Report on Form 8-K) is hereby incorporated by reference to Exhibit 99.2 to UScellular's Current Report on Form 8-K dated July 16, 2024. 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. TELEPHONE AND DATA SYSTEMS, INC. Date: July 16, 2024 By: /s/ Vicki L. Villacrez Vicki L. Villacrez Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR