1 EXHIBIT 99B.1 CONSOLIDATED STATEMENTS OF U S WEST, Inc. INCOME (UNAUDITED) Quarter Ended Dollars in millions, December 31, % except per share amounts 1994 1993 Change - - ---------------------------------- -------- -------- ------ SALES AND OTHER REVENUES $2,839 $2,666 6.5 EXPENSES Employee-related costs 957 919 4.1 Other operating expenses 676 584 15.8 Taxes other than income taxes 90 100 (10.0) Depreciation and amortization 533 490 8.8 Interest expense 119 125 (4.8) Equity losses in unconsolidated ventures 38 51 (25.5) Gains on sales of assets: Partial sale of joint venture interest (TeleWest Communications) 164 - - Rural telephone exchanges 34 - - Other income (expense) - net 14 (3) - --------- --------- ------ Income before income taxes 638 394 61.9 Provision for income taxes 229 130 76.2 --------- --------- ------ NET INCOME $409 $264 54.9 ========= ========= ====== Average common shares outstanding 460,079 429,196 7.2 (thousands) ========= ========= ====== EARNINGS PER COMMON SHARE $0.89 $0.62 43.5 ========= ========= ====== <FN> <F1> Note: Certain reclassifications within the financial statements have been made to conform to the current year presentation. </FN>