2003 Annual Report
Financial
Highlights
About
U.S. Cellular
Glossary
of Terms
Map
 
Chairman’s &
President’s Letter
Customers
Expect It
Board of
Directors
Supplemental
Shareholder Info
Financial
Report


  4Total Customers Graph
  4Service Revenues Graph
    2003   2002 Percent  
(Dollars in thousands, except per share amounts)  
(as restated
)  
(as restated
)
Change
 

               
Service Revenues $
2,423,789
    $
2,098,893
 
15
%
   
   
 
 
Operating Income  
118,983
   
281,166
 
(58
)%
Depreciation, Amortization and Accretion  
432,333
   
351,154
 
23
%
Operating Income before Depreciation
Amortization and Accretion*
 
551,316
   
632,320
 
(13
)%
Loss on Impairment of Intangible Assets  
49,595
   
 
n/m
 
Loss on Assets Held for Sale  
45,908
   
 
n/m
 
As Adjusted*   646,819     632,320   2 %
   
   
 
 
Net Income (Loss) $
42,660
  $
(26,945
)
n/m
 
Basic Weighted Average Shares
Outstanding (000s)
 
86,136
   
86,086
 
0
%
Basic Earnings per Share from
Net Income (Loss)
$
0.50
  $
(0.31
)
n/m
 
Total Assets $
4,945,747
  $
4,769,597
 
4
%
Common Shareholders’ Equity $
2,465,403
  $
2,402,377
 
3
%
Return on Average Equity  
2.3
%  
(0.8
)%
n/m
 
Customer Units  
4,409,000
   
4,103,000
 
7
%
Average Service Revenue per Customer (ARPU) $
47.38
  $
47.25
 
0
%
Consolidated Markets  
235
   
210
 
12
%
Capital Expenditures $
632,526
  $
730,645
 
(13
)%
 
n/m = percent change not meaningful

* See Supplemental Shareholder Information for a discussion of reasons for the use of
  non-GAAP financial information.

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