EXHIBIT 11
U S WEST, Inc.
Computation of Earnings Per Common Share
(In Thousands, Except Per Share Amounts)
Three Months Ended Nine Months Ended
Sept. 30, Sept. 30,
1995 1994 1995 1994
--------- ---------- --------- ----------
Income before extraordinary item $ 324,765 $ 318,427 $ 972,441 $ 1,016,982
Extraordinary item (net of tax):
Early extinguishment of debt (8,650) - (8,650) -
---------- ---------- ---------- ----------
Net income 316,115 318,427 963,791 1,016,982
Less preferred dividends 855 292 2,536 292
Net income available for ---------- ---------- ---------- ----------
common share calculation $ 315,260 $ 318,135 $ 961,255 $ 1,016,690
========== ========== ========== ==========
Weighted average common shares 471,229 454,997 470,076 451,037
outstanding ========== ========== ========== ==========
Income available for common before
extraordinary item $ 0.69 $ 0.70 $ 2.06 $ 2.25
Extraordinary item (net of tax):
Early extinguishment of debt (0.02) - (0.02) -
---------- ---------- ---------- ----------
Earnings per common share $ 0.67 $ 0.70 $ 2.04 $ 2.25
========== ========== ========== ==========
EXHIBIT 11
U S WEST, Inc.
Computation of Earnings Per Common Share
(In Thousands, Except Per Share Amounts)
Three Months Ended Nine Months Ended
EQUIVALENT SHARE: Sept 30, Sept 30,
1995 1994 1995 1994
--------- ---------- --------- ----------
Income before extraordinary item $ 324,765 $ 318,427 $ 972,441 $ 1,016,982
Extraordinary item (net of tax):
Early extinguishment of debt (8,650) - (8,650) -
---------- ---------- ---------- ----------
Net income 316,115 318,427 963,791 1,016,982
Less preferred dividends 855 292 2,536 292
Net income available for ---------- ---------- ---------- ----------
common share calculation $ 315,260 $ 318,135 $ 961,255 $ 1,016,690
========== ========== ========== ==========
Weighted average common shares 471,229 454,997 470,076 451,037
outstanding
Incremental shares from assumed
exercise of stock options 806 493 616 504
---------- ---------- ---------- ----------
Total common shares 472,035 455,490 470,692 451,541
========== ========== ========== ==========
Income available for common before
extraordinary item $ 0.69 $ 0.70 $ 2.06 $ 2.25
Extraordinary item (net of tax):
Early extinguishment of debt (0.02) - (0.02) -
---------- ---------- ---------- ----------
Earnings per common and $ 0.67 $ 0.70 $ 2.04 $ 2.25
common equivalent share ========== ========== ========== ==========
EXHIBIT 11
U S WEST, Inc.
Computation of Earnings Per Common Share
(In Thousands, Except Per Share Amounts)
Three Months Ended Nine Months Ended
FULL DILUTION: Sept. 30, Sept. 30,
1995 1994 1995 1994
--------- ---------- --------- ----------
Income before extraordinary item $ 324,765 $ 318,427 $ 972,441 $ 1,016,982
Interest on Convertible Liquid Yield
Option Notes (LYONS) 5,545 5,440 16,707 16,215
---------- ---------- ---------- ----------
Adjusted income before
extraordinary item 330,310 323,867 989,148 1,033,197
Extraordinary item (net of tax):
Early extinguishment of debt (8,650) - (8,650) -
---------- ---------- ---------- ----------
Adjusted net income 321,660 323,867 980,498 1,033,197
Less preferred dividends 855 292 2,536 292
---------- ---------- ---------- ----------
Adjusted net income available for
common share calculation $ 320,805 $ 323,575 $ 977,962 $ 1,032,905
========== ========== ========== ==========
Weighted average common shares
outstanding 471,229 454,997 470,076 451,037
Incremental shares from assumed
exercise of stock options 1,057 493 1,042 504
Shares issued upon conversion of LYONS 9,634 9,894 9,800 10,112
---------- ---------- ---------- ----------
Total common shares 481,920 465,384 480,918 461,653
========== ========== ========== ==========
Adjusted income available for common
before extraordinary item $ 0.68 $ 0.70 $ 2.05 $ 2.24
Extraordinary item (net of tax):
Early extinguishment of debt (0.02) - (0.02) -
---------- ---------- ---------- ----------
Earnings per common share - $ 0.66 $ 0.70 $ 2.03 $ 2.24
assuming full dilution ========== ========== ========== ==========