Exhibit 99B1 COMBINED STATEMENTS OF INCOME U S WEST MEDIA GROUP (UNAUDITED) Quarter Ended Nine Months Ended September 30, % September 30, % In millions 1996 1995 Change 1996 1995 Change - ---------------------------------------------------- ------- ------- SALES AND OTHER REVENUES Directory $316 $292 8.2 $908 $856 6.1 Wireless 315 246 28.0 869 676 28.6 Cable 60 56 7.1 176 165 6.7 Other 3 10 (70.0) 12 28 (57.1) -------------- ---------------- Total revenues $694 $604 14.9 $1,965 $1,725 13.9 -------------- ---------------- EXPENSES Costs of sales and other revenues 221 193 14.5 626 539 16.1 Selling, general and administrative 242 204 18.6 698 634 10.1 Depreciation & amort 79 60 31.7 216 181 19.3 -------------- ---------------- Total 542 457 18.6 1,540 1,354 13.7 -------------- ---------------- Income from operations 152 147 3.4 425 371 14.6 Interest expense 30 29 3.4 80 89 (10.1) Equity losses in unconsol ventures 81 38 - 224 128 75.0 Guaranteed minority interest expense 12 2 - 36 2 - Other income (expense) - net 10 6 66.7 (24) 24 - -------------- ---------------- Income before income taxes & extd item 39 84 (53.6) 61 176 (65.3) Income taxes 21 51 (58.8) 51 103 (50.5) -------------- ---------------- Income before extd item 18 33 (45.5) 10 73 (86.3) Extraordinary item: Early extinguishment of debt, net of tax - (4) - - (4) - -------------- ---------------- NET INCOME 18 29 (37.9) 10 69 (85.5) Preferred dividends 1 1 - 3 3 - -------------- ---------------- EARNINGS AVAILABLE FOR COMMON STOCK $17 $28 (39.3) $7 $66 (89.4) ============== ================ 5 COMBINED STATEMENTS OF INCOME U S WEST MEDIA GROUP (UNAUDITED) Quarter Ended Nine Months Ended In millions, except September 30, % September 30, % per share amounts 1996 1995 Change 1996 1995 Change - ---------------------------------------------------- ------- ------- Average common shares outstanding (1)<F1> 473.9 471.2 0.6 473.5 470.1 0.7 ============== ================ Earnings per common share: (1)<F1> Income available for common stock before extraordinary item $0.04 $0.07 (42.9) $0.01 $0.15 (93.3) Extraordinary item - (0.01) - - (0.01) - -------------- ------- ------- Earnings per common share $0.04 $0.06 (33.3) $0.01 $0.14 (92.9) ============== ================ <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> 6