1
EXHIBIT 99B.1
COMBINED STATEMENTS OF INCOME U S WEST MEDIA GROUP
(UNAUDITED)
Quarter Ended Year Ended
December 31, % December 31, %
In millions 1995 1994 Change 1995 1994 Change
- ------------------------------ ------- ------ ------- ------ ------
SALES AND OTHER REVENUES
Multimedia content
& services $324 $301 7.6 $1,180 $1,075 9.8
Wireless communications 265 218 21.6 941 781 20.5
Cable & telecomm. 50 18 - 215 18 -
Other 10 12 (16.7) 38 34 11.8
------- ------- ------ -------
Total revenues 649 549 18.2 2,374 1,908 24.4
------- ------- ------ -------
OPERATING EXPENSES
Costs of sales 233 179 30.2 772 612 26.1
Selling, general and
administrative 252 265 (4.9) 886 763 16.1
Depreciation & amort. 68 45 51.1 249 144 72.9
------- ------- ------ -------
Total oper. expenses 553 489 13.1 1,907 1,519 25.5
------- ------- ------ -------
Income from operations 96 60 60.0 467 389 20.1
Interest expense 11 20 (45.0) 100 66 51.5
Equity losses in
unconsol. ventures 79 38 - 207 121 71.1
Gain on merger of
joint ven. interest 157 - - 157 - -
Gains on asset sales:
Partial sale of
joint ven. interest - 164 - - 164 -
Paging assets - - - - 68 -
Guaranteed minority
interest expense 12 - - 14 - -
Other income
(expense) - net (19) 14 - 5 46 (89.1)
------- ------ ------- ------
Income before income
taxes and extra-
ordinary item 132 180 (26.7) 308 480 (35.8)
Income taxes 60 70 (14.3) 163 204 (20.1)
------- ------ ------- ------
Income before extra-
ordinary item 72 110 (34.5) 145 276 (47.5)
Extraordinary item:
Early extinguishment
of debt, net of tax - - - (4) - -
-------- ------ ------- ------
NET INCOME 72 110 (34.5) 141 276 (48.9)
Preferred dividends - - - 3 - -
-------- ------ ------- ------
EARNINGS AVAILABLE FOR
COMMON STOCK $72 $110 (34.5) $138 $276 (50.0)
======== ====== ======= ======
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EXHIBIT 99A.9
COMBINED STATEMENTS OF INCOME U S WEST MEDIA GROUP
(UNAUDITED)
Quarter Ended Year Ended
In millions, except December 31, % December 31, %
per share amounts 1995 1994 Change 1995 1994 Change
- --------------------- ------- ------- ------ ------ ------- -------
Pro forma average
common shares
outstanding (#1) 472.0 460.1 2.6 470.5 453.3 3.8
======= ======= ====== =======
Pro forma earnings
per common share: (#1)
Income available
for common stock
before extraordinary $0.15 $0.24 (37.5) $0.30 $0.61 (50.8)
item
Extraordinary item - - - (0.01) - -
------- ------- ------ -------
Pro forma earnings
per common share $0.15 $0.24 (37.5) $0.29 $0.61 (52.5)
======== ======= ======= =======
<FN>
<F1>
#1: Effective November 1, 1995, each share of U S WEST, Inc.
common stock was converted into one share each of U S WEST Communi-
cations Group common stock and U S WEST Media Group common stock.
Earnings per common share have been presented on a pro forma basis
to reflect the two classes of stock as if they were outstanding
since January 1, 1994. For periods prior to the recapitalization
the average common shares outstanding used in the earnings per
average common share for the two classes of stock are assumed to
be equal to the average common shares outstanding for U S WEST, Inc.
</FN>
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