1
EXHIBIT 11
U S WEST, Inc.
Computation of Earnings Per Common Share
(In Thousands, Except Per Share Amounts)
1994 1993
3rd Quarter YTD 3rd Quarter YTD
---------- ---------- ----------- ----------
Income (loss) from
continuing
operations $318,427 $1,016,982 ($375,058) $211,832
Discontinued
operations:
Income to June 1,
1993, net of tax - - - 38,526
Estimated loss from
June 1, 1993 through
disposal, net of tax - - - (100,000)
Income tax rate change - - (20,000) (20,000)
---------- ---------- ---------- ---------
Income (loss) before 318,427 1,016,982 (395,058) 130,358
extraordinary items
Extraordinary items -
(net of tax):
Discontinuance of
SFAS No. 71 - - (3,123,000) (3,123,000)
Early extinguishment
of debt - - (26,998) (77,220)
---------- ---------- ---------- -----------
Net income (loss) 318,427 1,016,982 (3,545,056) (3,069,862)
Less preferred
dividends 292 292 - -
Net income (loss)
available for ---------- ---------- ---------- ----------
common share
calculation $318,135 $1,016,690 ($3,545,056) ($3,069,862)
========== ========== =========== ===========
EARNINGS (LOSS) PER COMMON SHARE:
Weighted average
common shares
outstanding 454,997 451,037 417,081 416,052
========= ========= ======== ========
Income (loss) from
continuing
operations $0.70 $2.25 ($0.90) $0.51
Discontinued operations:
Income to June 1,
1993, net of tax - - - 0.09
Estimated loss from
June 1, 1993
through disposal,
net of tax - - - (0.24)
Income tax rate
change - - (0.05) (0.05)
--------- --------- ---------- ---------
Income (loss) before
extraordinary items 0.70 2.25 (0.95) 0.31
Extraordinary items -
(net of tax):
Discontinuance of
SFAS No. 71 - - (7.49) (7.51)
Early extinguishment
of debt - - (0.06) (0.18)
---------- ---------- ---------- ---------
Earnings (loss)
per common share $0.70 $2.25 ($8.50) ($7.38)
========== ========== ========== ==========
2
EXHIBIT 11
U S WEST, Inc.
Computation of Earnings Per Common Share
(In Thousands, Except Per Share Amounts)
EARNINGS (LOSS) PER COMMON AND
COMMON EQUIVALENT SHARE:
1994 1993
3rd Quarter YTD 3rd Quarter YTD
---------- ---------- ---------- --------
Weighted average
common shares
outstanding 454,997 451,037 417,081 416,052
Incremental shares
from assumed
exercise of
stock options 493 504 - * 394
-------- -------- ------- -------
Total common
shares 455,490 451,541 417,081 416,446
======== ======== ======= =======
Income (loss) from
continuing
operations $0.70 $2.25 ($0.90) $0.51
Discontinued operations:
Income to June 1,
1993, net of tax - - - 0.09
Estimated loss from
June 1, 1993 through
disposal, net of tax - - - (0.24)
Income tax rate change - - (0.05) (0.05)
------- ------ ------- -------
Income (loss) before 0.70 2.25 (0.95) 0.31
extraordinary items
Extraordinary items -
(net of tax):
Discontinuance of
SFAS No. 71 - - (7.49) (7.50)
Early extinguishment
of debt - - (0.06) (0.18)
------- ------ ------- -------
Earnings (loss) per
common and common
equivalent share $0.70 $2.25 ($8.50) ($7.37)
======= ======= ======= =======
<FN>
* Amounts are excluded from primary earnings (loss) per common share
calculation due to their anti-dilutive effect.
</FN>
3
EXHIBIT 11
U S WEST, Inc.
Computation of Earnings Per Common Share
(In Thousands, Except Per Share Amounts)
EARNINGS (LOSS) PER COMMON SHARE -
ASSUMING FULL DILUTION:
1994 1993
3rd Quarter YTD 3rd Quarter YTD
---------- ---------- ---------- --------
Income (loss) from
continuing $318,427 $1,016,982 ($375,058) $211,832
operations
Interest on
Convertible Liquid
Yield Option Notes
(LYONS) 5,440 16,215 - * - *
-------- ---------- ---------- --------
Adjusted income (loss)
from continuing
operations 323,867 1,033,197 (375,058) 211,832
Less preferred
dividends 292 292 - -
-------- --------- --------- --------
Adjusted income (loss)
from continuing
operations avail-
able for common
share calculation $323,575 $1,032,905 ($375,058) $211,832
======== ========== ========== ========
Weighted average
common shares
outstanding 454,997 451,037 417,081 416,052
Incremental shares
from assumed
exercise of
stock options 493 504 - * 554
Shares issued upon
conversion of LYONS 9,894 10,112 - * - *
-------- ---------- -------- --------
Total common
shares 465,384 461,653 417,081 416,606
======== ========== ======== ========
Adjusted income
(loss) from continu-
ing operations $0.70 $2.24 ($0.90) $0.51
Discontinued operations:
Income to June 1, 1993,
net of tax - - - 0.09
Estimated loss from
June 1, 1993 through
disposal, net of
tax - - - (0.24)
Income tax rate change - - (0.05) (0.05)
-------- ---------- --------- ---------
Adjusted income (loss)
before extraordinary
items 0.70 2.24 (0.95) 0.31
Extraordinary items -
(net of tax):
Discontinuance of
SFAS No. 71 - - (7.49) (7.50)
Early extinguishment
of debt - - (0.06) (0.18)
-------- ---------- --------- ---------
Earnings (loss)
per common share
assuming full
dilution $0.70 $2.24 ($8.50) ($7.37)
========== ========== ========== ==========
<FN>
* Amounts are excluded from fully diluted earnings (loss) per common
share calculation due to their anti-dilutive effect.
</FN>