EXHIBIT 99B.1 CONSOLIDATED STATEMENTS OF U S WEST, Inc. INCOME (UNAUDITED) Quarter Ended Dollars in millions, March 31, % except per share amounts 1994 1993 Change - -------------------------------------------------- ----------- ----------- SALES AND OTHER REVENUES $2,641 $2,510 5.2 EXPENSES Employee-related costs 911 870 4.7 Other operating expenses 477 472 1.1 Taxes other than income taxes 108 105 2.9 ----------- ----------- ----------- Earnings before interest, taxes, depreciation, amortization and other (EBITDA) 1,145 1,063 7.7 ----------- ----------- ----------- Depreciation and amortization 503 490 2.7 Interest expense 109 106 2.8 Other expense - net 11 18 (38.9) ----------- ----------- ----------- Income from continuing operations before income taxes 522 449 16.3 Provision for income taxes 198 153 29.4 ----------- ----------- ----------- Income from continuing operations 324 296 9.5 Discontinued operations, - 20 - net of tax ----------- ----------- ------------ NET INCOME $324 $316 2.5 ======================= ============ Earnings per share: Continuing operations $0.73 $0.71 2.8 Discontinued operations - 0.05 - ----------- ----------- ------------ EARNINGS PER SHARE $0.73 $0.76 (3.9) ======================= ============ Note: Certain reclassifications within the financial statements have been made to conform to the current year presentation. -1-