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Telephone and Data Systems TDS T D S Telecom Segment — Indefinite-Lived License Agreements

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Other financials

Income statement

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Revenue$309.3M+3.6%
Operating income$373.2M+3,133%
Net income$298.4M+2,479%
EPS (diluted)$2.42+4,940%

Balance sheet

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Cash & equivalents$2.2B+293%
Total debt$1.2B-75.4%
Total equity$5.2B+3.3%
Total assets$8.4B+2.6%

Cash flow

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Operating cash flow$55.6M-86.8%
CapEx$168.9M+96.2%
Free cash flow-$113.3M-134%

Valuation

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Market cap$3.88B-12.2%
Enterprise value$2.93B-67.2%
P/E9.1×
P/S3.1×-0.6×

Profitability

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Gross margin77.2%
Operating margin-21.9%
Net margin33.8%
FCF margin87.7%

Returns & leverage

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Return on equity8.4%
Debt / equity0.2×-0.8×
Current ratio3.8×+2.0×

Where this comes from

Reported directly by Telephone and Data Systems in its filing.

Tagged under the XBRL concept us-gaap:IndefiniteLivedLicenseAgreements.

The source filing: Telephone and Data Systems’s 10-K, filed February 24, 2026.

Filed
Feb 24, 2026, 4:15 PM EST
Fiscal year
FY2025
Accession
0001051512-26-000011
Line itemArrayTDS TelecomTotal
(Dollars in thousands)
Balance at December 31, 20243,285,6484,0003,289,648
Impairment(47,679)(900)(48,579)
Transferred to Assets held for sale1(1,595,731)(2,400)(1,598,131)
Divestitures(4,062)(4,062)
Capitalized interest4,0964,096
Balance at December 31, 2025$1,642,272$700$1,642,972

Item 8. Financial Statements and Supplementary Data

FAQ

What is Telephone and Data Systems's t d s telecom segment — indefinite-lived license agreements?
Telephone and Data Systems (TDS) reported t d s telecom segment — indefinite-lived license agreements of $700K in Q4 2025.
What does t d s telecom segment — indefinite-lived license agreements mean?
Represents the carrying value of intangible assets, such as spectrum or operating licenses, that have no foreseeable limit on the period over which they are expected to generate cash flows. These assets are not amortized but are subject to periodic impairment testing to ensure their book value does not exceed their fair market value.

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