1
EXHIBIT 99A.6
CONSOLIDATED STATEMENTS OF U S WEST, Inc.
INCOME (UNAUDITED)
Quarter Ended Year Ended
December 31, % December 31, %
In millions 1995 1994 Change 1995 1994 Change
- ------------------------------ ------- -------------- ------- ------
SALES & OTHER REVENUES $3,060 $2,839 7.8 $11,746 $10,953 7.2
OPERATING EXPENSES
Employee-related 1,089 957 13.8 4,071 3,779 7.7
Other operating 662 676 (2.1) 2,323 2,203 5.4
Taxes other than
income taxes 86 90 (4.4) 416 412 1.0
Depreciation & amort. 596 533 11.8 2,291 2,052 11.6
---------------- ---------------
Total operating expense 2,433 2,256 7.8 9,101 8,446 7.8
---------------- ---------------
Income from operations 627 583 7.5 2,645 2,507 5.5
Interest expense 123 119 3.4 527 442 19.2
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
venture interest - 164 - - 164 -
Rural tele. exchanges 24 34 (29.4) 136 82 65.9
Paging assets - - - - 68 -
Guaranteed minority
interest expense 12 - - 14 - -
Other income
(expense) - net (30) 14 - (36) 25 -
---------------- ---------------
Income before income
taxes and extra-
ordinary item 564 638 (11.6) 2,154 2,283 (5.7)
Income taxes 208 229 (9.2) 825 857 (3.7)
---------------- ---------------
Income before extra-
ordinary item 356 409 (13.0) 1,329 1,426 (6.8)
Extraordinary item:
Early extinguishment
of debt, net of tax (3) - - (12) - -
---------------- ---------------
NET INCOME 353 409 (13.7) 1,317 1,426 (7.6)
Preferred dividends - - - 3 - -
---------------- ---------------
EARNINGS AVAILABLE FOR
COMMON STOCK $353 $409 (13.7) $1,314 $1,426 (7.9)
================ ===============
2
EXHIBIT 99A.6 (cont'd.)
CONSOLIDATED STATEMENTS OF U S WEST, Inc.
INCOME (UNAUDITED)
Quarter Ended Year Ended
In millions, except December 31, % December 31, %
per share amounts 1995 1994 Change 1995 1994 Change
- ------------------------------ ------- -------------- ------ ------
COMMUNICATIONS GROUP:
Pro forma average
common shares
outstanding (#1) 472.6 460.1 2.7 470.7 453.3 3.8
================ ===============
Pro forma earnings per
common share: (#1)
Income before
extraordinary item $0.60 $0.65 (7.7) $2.52 $2.53 (0.4)
Extraordinary item (0.01) - - (0.02) - -
---------------- ---------------
Pro forma earnings
per common share $0.59 $0.65 (9.2) $2.50 $2.53 (1.2)
================ ===============
MEDIA GROUP:
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 item $0.15 $0.24 (37.5) $0.30 $0.61 (50.8)
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>
3
EXHIBIT 99A.6 (cont'd.)
CONSOLIDATED STATEMENTS OF U S WEST, Inc.
INCOME (UNAUDITED)
Dollars in millions, Quarter Ended Year Ended
except per share December 31, % December 31, %
amounts 1995 1994 Change 1995 1994 Change
- ------------------------------ ------- -------------- ------- ------
U S WEST, Inc.
Average common shares
outstanding (#1) - 460.1 - - 453.3 -
================ ================
Earnings per common
share (#1) - $0.89 - - $3.14 -
================ ================
SELECTED CONSOLIDATED DATA
U S WEST, Inc.
Capital $957 $862 11.0 $3,140 $2,820 11.3
expenditures
Debt-to-capital 50.7% 51.8% - 50.7% 51.8% -
ratio (#2)
Employees 61,047 61,505 (0.7) 61,047 61,505 (0.7)
<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.
Average common shares and per common share data for 1995 are
presented on a Group basis only.
<F2>
#2 Ratio includes preferred securities as a component of
total capital. Including debt related to the net investment in
assets held for sale, the 1995 and 1994 ratios are 52.9% and
55.5%, respectively.
</FN>