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The following condensed operating financial data reflects our quarterly operating results for all quarters in 2002 and 2003. We made certain reclassifications to prior balances to conform to the current presentation.
QWEST COMMUNICATIONS INTERNATIONAL, INC.
QUARTERLY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in millions, except per share amounts)
(Unaudited)
| 2003 | 2002 | ||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Q1 | Q2 | Q3 | Q4 | Total | Q1 | Q2 | Q3 | Q4 | Total | ||||||||||||||||||||||
Operating revenue | $ | 3,624 | $ | 3,596 | $ | 3,570 | $ | 3,498 | $ | 14,288 | $ | 3,983 | $ | 3,911 | $ | 3,772 | $ | 3,705 | $ | 15,371 | ||||||||||||
Operating expenses: | ||||||||||||||||||||||||||||||||
Cost of sales | 1,476 | 1,479 | 1,960 | 1,541 | 6,456 | 1,511 | 1,646 | 1,486 | 1,459 | 6,102 | ||||||||||||||||||||||
SG&A | 1,168 | 1,134 | 1,070 | 1,204 | 4,576 | 1,421 | 1,432 | 1,278 | 1,018 | 5,149 | ||||||||||||||||||||||
Deprec. & amort. | 784 | 789 | 796 | 798 | 3,167 | 1,114 | 1,132 | 796 | 805 | 3,847 | ||||||||||||||||||||||
Impairments & Other | 13 | 17 | 267 | 46 | 343 | 31 | 18,977 | 135 | 47 | 19,190 | ||||||||||||||||||||||
Total operating expenses | 3,441 | 3,419 | 4,093 | 3,589 | 14,542 | 4,077 | 23,187 | 3,695 | 3,329 | 34,288 | ||||||||||||||||||||||
Operating income (loss) | 183 | 177 | (523 | ) | (91 | ) | (254 | ) | (94 | ) | (19,276 | ) | 77 | 376 | (18,917 | ) | ||||||||||||||||
Other expense (income): | ||||||||||||||||||||||||||||||||
Interest expense—net | 440 | 444 | 437 | 436 | 1,757 | 424 | 450 | 451 | 464 | 1,789 | ||||||||||||||||||||||
Other—net | (61 | ) | (63 | ) | (18 | ) | (37 | ) | (179 | ) | 646 | 588 | (2 | ) | (1,823 | ) | (591 | ) | ||||||||||||||
Total other expense (income) | 379 | 381 | 419 | 399 | 1,578 | 1,070 | 1,038 | 449 | (1,359 | ) | 1,198 | |||||||||||||||||||||
Income tax benefit (expense) | 76 | 79 | 256 | 108 | 519 | 189 | 2,856 | 134 | (682 | ) | 2,497 | |||||||||||||||||||||
Loss from continuing operations | (120 | ) | (125 | ) | (686 | ) | (382 | ) | (1,313 | ) | (975 | ) | (17,458 | ) | (238 | ) | 1,053 | (17,618 | ) | |||||||||||||
Discontinued operations—net | 66 | 61 | 2,517 | (25 | ) | 2.619 | 125 | 28 | 115 | 1,682 | 1.950 | |||||||||||||||||||||
Cumulative effect of accounting changes—net | 206 | — | — | — | 206 | (22,800 | ) | — | — | — | (22,800 | ) | ||||||||||||||||||||
Net income (loss) | $ | 152 | $ | (64 | ) | $ | 1,831 | $ | (407 | ) | $ | 1,512 | $ | (23,650 | ) | $ | (17,430 | ) | $ | (123 | ) | $ | 2,735 | $ | (38,468 | ) | ||||||
QWEST COMMUNICATIONS INTERNATIONAL, INC. QUARTERLY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in millions, except per share amounts) (Unaudited)