EXHIBIT 12 (continued)
		       U S WEST Financial Services, Inc.              
		      RATIO OF EARNINGS TO FIXED CHARGES                
			    (Dollars in Thousands)
                
                
						   Quarter Ended   
						6/30/95    6/30/94
					       ---------  ---------
                                                     
Income before income taxes                       $4,567       $973 
Interest expense                                  7,419     10,049 
Interest factor on rentals (1/3)                     14         37 
					       ---------  ---------
Earnings                                        $12,000    $11,059
		
Interest expense                                  7,419     10,049
Interest factor on rentals (1/3)                     14         37 
					       ---------   --------
Fixed charges                                    $7,433    $10,086 
		
Ratio of earnings to fixed charges                 1.61       1.10 
					       ---------   --------
		
		
						    Year-to-Date    
						6/30/95    6/30/94
					       ---------  ---------
		 
Income before income taxes                       $5,380     $2,100
Interest expense                                 16,569     22,773
Interest factor on rentals (1/3)                     31         77 
					       ---------   --------
Earnings                                        $21,980    $24,950      
			
Interest expense                                 16,569     22,773       
Interest factor on rentals (1/3)                     31         77      
					       ---------   --------       
Fixed charges                                   $16,600    $22,850      
			
Ratio of earnings to fixed charges                 1.32       1.09    
					       ---------   --------