1
EXHIBIT 99B.3
CONSOLIDATED STATEMENTS OF INCOME U S WEST, Inc.
Year Ended
Dollars in millions, December 31, %
except per share amounts 1993 1992 Change
- ------------------------------------ ---------- ---------- --------
SALES AND OTHER REVENUES $10,293.6 $9,822.6 4.8
EXPENSES
Employee-related costs 3,630.7 3,521.1 3.1
Other operating expenses 2,018.7 1,960.9 2.9
Taxes other than income taxes 417.0 377.6 10.4
Depreciation and amortization 1,954.5 1,880.5 3.9
Restructuring charge 1,000.0 - -
Interest expense 439.3 453.5 (3.1)
Other income (expense) - net (88.7) (59.8) 48.3
---------- ---------- --------
Income from continuing
operations before income taxes 744.7 1,569.2 (52.5)
Provision for income taxes 268.8 493.4 (45.5)
---------- ---------- --------
Income from continuing
operations 475.9 1,075.8 (55.8)
Discontinued operations:
Income to June 1, 1993,
net of tax* 38.5 103.6 (62.8)
Estimated loss from June 1,
1993 through disposal,
net of tax (100.0) - -
Income tax rate change (20.0) - -
---------- ---------- --------
Income before extraordinary
items and cumulative effect
of change in accounting
principles 394.4 1,179.4 (66.6)
Extraordinary items:
Discontinuance of SFAS No. 71,
net of tax (3,123.0) - -
Early extinguishment of debt,
net of tax (77.2) - -
Cumulative effect of change in
accounting principles related
to postretirement and
postemployment benefits,
net of tax - (1,793.4) -
---------- ---------- --------
NET LOSS ($2,805.8) ($614.0) -
========== ========== ========
<FN>
* For 1992 through December 31
Note: Certain reclassifications within the financial
statements have been made to conform to the current year
presentation.
2
CONSOLIDATED STATEMENTS OF INCOME U S WEST, Inc.
Year Ended
December 31, %
1993 1992 Change
- ------------------------------------ ---------- ---------- --------
Earnings (loss) per share:
Continuing operations $1.13 $2.61 (56.7)
Discontinued operations:
Income to June 1, 1993* 0.09 0.25 (64.0)
Estimated loss from June 1,
1993 through disposal,
net of tax (0.24) - -
Income tax rate change (0.04) - -
Extraordinary items:
Discontinuance of SFAS
No. 71, net of tax (7.45) - -
Early extinguishment of debt,
net of tax (0.18) - -
Cumulative effect of change
in accounting principles - (4.35) -
---------- ---------- --------
LOSS PER SHARE ($6.69) ($1.49) -
========== ========== ========
<FN>
* For 1992 through December 31
Note: Certain reclassifications within the financial
statements have been made to conform to the current year
presentation.