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U.S. Cellular’s most significant investments in unconsolidated entities consist of the following: 

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Based primarily on data furnished to U.S. Cellular by third parties, the following summarizes the combined assets, liabilities and equity, and the combined results of operations of the wireless entities in which U.S. Cellular’s investments are accounted for by the equity method: 

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## NOTE 8 PROPERTY, PLANT AND EQUIPMENT 

Property, plant and equipment in service and under construction, net of accumulated depreciation, consists of: 

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Useful lives range from four to twenty-five years for cell site-related equipment, ten to twenty years for buildings and leasehold improve- ments, three to eight years for switching-related equipment, three to five years for office furniture and equipment, and ten years for other operating equipment. 

## NOTE 9 OPERATIONS HELD FOR SALE 

On November 26, 2003, U.S. Cellular announced that it had entered into a definitive agreement to sell its southern Texas wireless markets to AT&T Wireless for $95 million in cash plus a working capital adjustment, subject to certain closing provisions. The U.S. Cellular markets to be sold to AT&T Wireless include 25 megahertz metropolitan statistical area and rural service area licenses representing 1.3 million population equivalents, approximately 150 cell sites and 76,000 customers. The transaction is subject to regulatory approvals. The closing of the sale is expected to occur in the first quarter of 2004. Total revenues from the markets to be sold totaled $60.6 million for the year ended December 31, 2003, while operating income totaled $17.1 million. Operating income does not include shared services costs that have been allocated to the markets from the U.S. Cellular corporate office. 

The sale is being accounted for in accordance with SFAS No. 144 “Accounting for the Impairment or Disposal of Long-Lived Assets.” T he balance sheet as of December 31, 2003 reflects assets and liabilities of the wireless properties to be sold as assets and liabilities of opera- tions held for sale from the date of the sale agreement until the close of the transaction. The revenues and expenses of the markets continue to be included in operations until the completion of the sale. The following table summarizes the recorded value of the assets and liabilities of the markets that U.S. Cellular will be transferring. 

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U.S. Cellular has recorded a loss of $22.0 million as a “Loss on assets held for sale” (included in operating expenses) representing the difference between the carrying value of the markets to be sold to AT&T Wireless and the cash to be received in the transaction. 

