EXHIBIT 99B.3
COMBINED BALANCE SHEETS U S WEST MEDIA GROUP
(UNAUDITED)
Year Ended
December 31,
In millions 1995 1994
- ---------------------------------------- -------------------------
ASSETS
Current assets:
Cash and cash equivalents $20 $93
Accounts and notes receivable 287 212
Deferred directory costs 247 234
Receivable from Communications Group 106 109
Other assets 81 108
-------------------------
Total current assets 741 756
-------------------------
Property, plant and equipment - net 1,148 956
Investment in Time Warner Entertainment 2,483 2,522
Intangible assets - net 1,798 1,858
Investment in international ventures 1,511 881
Net investment in assets held for sale 429 302
Other assets 505 119
-------------------------
Total assets $8,615 $7,394
=========================
LIABILITIES AND EQUITY
Current liabilities:
Short-term debt $836 $1,229
Accounts payable 235 170
Deferred revenue and customer deposits 87 76
Other payables 411 458
-------------------------
Total current liabilities 1,569 1,933
-------------------------
Long-term debt 1,265 585
Deferred taxes, credits and other 576 547
Postretirement and other postemployment
benefit obligations 82 75
Company-obligated mandatorily
redeemable preferred securities of
subsidiary trust holding solely Company-
guaranteed debentures 600 -
Preferred stock subject to
mandatory redemption 51 51
Media Group equity 4,599 4,390
Company LESOP guarantee (127) (187)
-------------------------
Total equity 4,472 4,203
-------------------------
Total liabilities and equity $8,615 $7,394
=========================