EXHIBIT 99B.4
COMBINED STATEMENTS OF U S WEST MEDIA GROUP
CASH FLOWS (UNAUDITED)
Year Ended
December 31,
In millions 1995 1994
- --------------------------------------------------------------------
OPERATING ACTIVITIES
Net income $141 $276
Adjustments to net income:
Depreciation and amortization 249 144
Equity losses in unconsolidated ventures 207 121
Gain on merger of joint venture interest (157) -
Gain on partial sale of joint ven. interest - (164)
Gain on sale of paging assets - (68)
Deferred income taxes and amortization
of investment tax credits 102 147
Changes in operating assets and liabilities:
Restructuring payments (19) (10)
Accounts and notes receivable (48) (40)
Deferred directory cost, prepaid and other (28) (52)
Accounts payable and accrued liabilities 45 143
Other - net 157 54
- --------------------------------------------------------------------
Cash provided by operating activities 649 551
- --------------------------------------------------------------------
INVESTING ACTIVITIES
Expenditures for property, plant and equipment (372) (349)
Investment in international ventures (681) (350)
Investment in PCS licenses (286) -
Investment in Atlanta Cable Properties - (745)
Proceeds from sale of paging assets - 143
Other - net 92 (121)
- --------------------------------------------------------------------
Cash (used for) investing activities (1,247) (1,422)
- --------------------------------------------------------------------
FINANCING ACTIVITIES
Net (repayments of) proceeds from short-term debt (449) 936
Repayments of long-term debt (724) (316)
Proceeds from issuance of long-term debt 1,085 -
Proceeds from issuance of trust originated
preferred securities - net 581 -
Proceeds from issuance of common stock 120 323
Proceeds from issuance of preferred stock - 50
Purchase of treasury stock (63) -
Dividends paid on preferred stock (3) -
Other - net (22) -
- --------------------------------------------------------------------
Cash provided by financing activities 525 993
- --------------------------------------------------------------------
Cash (used for) provided by continuing operations (73) 122
- --------------------------------------------------------------------
Cash (to) discontinued operations - (101)
- --------------------------------------------------------------------
CASH AND CASH EQUIVALENTS
(Decrease) Increase (73) 21
Beginning balance 93 72
- --------------------------------------------------------------------
Ending balance $20 $93
====================================================================
<FN>
<F1>
Note: Certain reclassifications within the financial statements have
been made to conform to the current year presentation.
</FN>