TDS Filings — Telephone and Data Systems, Inc.

TDS Filings — Telephone and Data Systems, Inc. - FilingSpy

10-Q · Quarter ended Jun 30, 2026 · SEC filing ↗

Operating income swung to $373M on a $386M spectrum sale gain, while cash reached $2.2B after closing the remaining spectrum transactions.

TDS recorded a $386 million gain on spectrum sales that turned the quarter. rose 3.6% to $309.3 million, swung to $373.2 million from a $12.3 million loss a year ago, and reached $2.42. The company now holds $2.2 billion in cash against $671 million in , leaving it with the capital to fund its fiber build and decide what comes next.

Key takeaways

swung to $373.2 million from a $12.3 million loss a year ago, driven by a $386 million gain on the sale of spectrum licenses — without it, the business would have posted an operating loss.
rose 3.6% to $309.3 million, as growth in TDS Telecom's residential broadband and Array's tower rental revenue more than offset the continued decline in legacy voice services.
Cash and equivalents rose 60.5% sequentially to $2.19 billion, the highest quarter-end balance in the data provided, after the company closed the sale of spectrum licenses to Verizon, AT&T, and T-Mobile during the quarter.

Original filing text

Quantitative and Qualitative Disclosures About Market Risk

Market Risk As of June 30, 2026, approximately 50% of TDS' long-term debt was in fixed-rate senior notes and approximately 50% in variable-rate debt. Fluctuations in market interest rates can lead to volatility in the fair value of fixed-rate notes and interest expense on variable-rate debt. The following table presents the scheduled principal payments on long-term debt, lease obligations, and the related weighted average interest rates by maturity dates at June 30, 2026. Principal Payments Due by Period Long-Term Debt and Lease Obligations1 Weighted-Avg. Interest Rates on Long-Term Debt Obligations2 (Dollars in thousands) Remainder of 2026 $ 4,760 6.2 % 2027 9,074 6.2 % 2028 8,566 6.1 % 2029 12,647 6.1 % 2030 293,105 6.2 % Thereafter 365,986 5.9 % Total $ 694,138 6.0 % 1The total long-term debt obligation differs from Long-term debt in the Consolidated Balance Sheet due to unamortized debt issuance costs on all non-revolving debt instruments and unamortized discounts related to Array's 6.7% Senior Notes. 2Represents the weighted average stated interest rates at June 30, 2026, for debt maturing in the respective periods. See Note 4 — Fair Value Measurements in the Notes to Consolidated Financial Statements for additional information related to the fair value of TDS’ Long-term debt as of June 30, 2026. 32 Table of Contents

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TDS

TDS

Operating income swung to $373M on a $386M spectrum sale gain, while cash reached $2.2B after closing the remaining spectrum transactions.

Key takeaways

Original filing text

Quantitative and Qualitative Disclosures About Market Risk

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