EXHIBIT 99B.1 COMBINED STATEMENTS OF INCOME U S WEST MEDIA GROUP (UNAUDITED) Quarter Ended Six Months Ended June 30, % June 30, % In millions 1996 1995 Change 1996 1995 Change - ----------------------------- ------ -------------- ------ ------- SALES AND OTHER REVENUES Directory $304 $292 4.1 $592 $564 5.0 Wireless 290 228 27.2 554 430 28.8 Cable 59 55 7.3 116 109 6.4 Other 5 10 (50.0) 9 18 (50.0) ---------------- ---------------- Total revenues $658 $585 12.5 $1,271 $1,121 13.4 ---------------- ---------------- EXPENSES Costs of sales and other revenues 206 183 12.6 405 346 17.1 Selling, general and administrative 238 233 2.1 456 430 6.0 Depreciation & amort. 70 60 16.7 137 121 13.2 ---------------- ---------------- Total 514 476 8.0 998 897 11.3 ---------------- ---------------- Income from operations 144 109 32.1 273 224 21.9 Interest expense 26 33 (21.2) 50 60 (16.7) Equity losses in unconsol. ventures 77 33 - 143 90 58.9 Guaranteed minority interest expense 12 - - 24 - - Other income (expense) - net (27) 11 - (34) 18 - ---------------- ---------------- Income before income taxes 2 54 (96.3) 22 92 (76.1) Income tax provision 13 29 (55.2) 30 52 (42.3) ---------------- ---------------- NET INCOME/(LOSS) (11) 25 - (8) 40 - Preferred dividends 1 1 - 2 2 - ---------------- ---------------- EARNINGS AVAILABLE FOR COMMON STOCK ($12) $24 - ($10) $38 - ================ ================ EXHIBIT 99B.1 (cont'd.) COMBINED STATEMENTS OF INCOME U S WEST MEDIA GROUP (UNAUDITED) Quarter Ended Six Months Ended In millions, except June 30, % June 30, % per share amounts 1996 1995 Change 1996 1995 Change - ------------------------------ ------- -------------- ------- ------- Average common shares outstanding(#1) 473.6 470.4 0.7 473.3 469.5 0.8 ================ ================ Earnings per common share: (#1) ($0.03) $0.05 - ($0.02) $0.08 - ================ ================ <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 Communications Group common stock and U S WEST Media Group common stock. Earnings per common share for 1995 have been presented on a pro forma basis to reflect the two classes of stock as if they were outstanding since January 1, 1995. For periods prior to the recapitalization, the average common shares outstanding are assumed to be equal to the average common shares outstanding for U S WEST, Inc. </FN>