21 EXHIBIT 99B.4 COMBINED STATEMENTS OF U S WEST MEDIA GROUP CASH FLOWS (UNAUDITED) 						 Quarter Ended 						 March 31, In millions 1996 1995 - - ------------------------------------------------------------------ OPERATING ACTIVITIES Net income $3 $15 Adjustments to net income: Depreciation and amortization 67 61 Equity losses in unconsolidated ventures 66 57 Deferred income taxes (17) (27) Provision for uncollectibles 14 13 Changes in operating assets and liabilities: Restructuring payments (4) (3) Accounts and notes receivable (10) (9) Deferred directory costs, prepaid and other (12) (9) Accounts payable and accrued liabilities 6 (96) Other - net (3) 78 - - ------------------------------------------------------------------ Cash provided by operating activities 110 80 - - ------------------------------------------------------------------ INVESTING ACTIVITIES Expenditures for property, plant and equipment (117) (76) Investment in international ventures (104) (182) Investment in PCS (25) (42) Cash (to) from investment in assets held for sale 3 (60) Other - net 1 (21) - - ------------------------------------------------------------------ Cash (used for) investing activities (242) (381) - - ------------------------------------------------------------------ FINANCING ACTIVITIES Net proceeds from issuances of short-term debt 139 435 Repayments of long-term debt (97) (150) Proceeds from issuance of long-term debt 76 - Proceeds from issuance of common stock 21 11 Advance from Communications Group - 23 - - ------------------------------------------------------------------ Cash provided by financing activities 139 319 - - ------------------------------------------------------------------ CASH AND CASH EQUIVALENTS Increase 7 18 Beginning balance 20 93 - - ------------------------------------------------------------------ Ending balance $27 $111 ================================================================== Note: Certain reclassifications within the financial statements have been made to conform to the current year presentation.