EXHIBIT 12
U S WEST, Inc.
RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)
Quarter Ended
9/30/96 9/30/95
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Income before income taxes, extraordinary item
and cumulative effect of change in accounting
principle $494 $538
Interest expense (net of amounts capitalized) 140 137
Interest factor on rentals (1/3) 22 22
Equity losses in unconsolidated ventures
(less than 50% owned) 41 2
Guaranteed minority interest expense 12 2
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Earnings $709 $701
Interest expense 156 156
Interest factor on rentals (1/3) 22 22
Guaranteed minority interest expense 12 2
Preferred stock dividends (pre-tax equivalent) 1 2
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Fixed charges $191 $182
Ratio of earnings to fixed charges 3.71 3.85
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Year-to-Date
9/30/96 9/30/95
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Income before income taxes, extraordinary item
and cumulative effect of change in accounting
principle $1,502 $1,590
Interest expense (net of amounts capitalized) 411 404
Interest factor on rentals (1/3) 69 71
Equity losses in unconsolidated ventures
(less than 50% owned) 111 28
Guaranteed minority interest expense 36 2
--------- ---------
Earnings $2,129 $2,095
Interest expense 471 448
Interest factor on rentals (1/3) 69 71
Guaranteed minority interest expense 36 2
Preferred stock dividends (pre-tax equivalent) 4 5
--------- ---------
Fixed charges $580 $526
Ratio of earnings to fixed charges 3.67 3.98
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EXHIBIT 12
U S WEST Financial Services, Inc.
RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in Thousands)
Quarter Ended
9/30/96 9/30/95
- ------------------------------------------------- --------- ---------
Income before income taxes $9,368 $2,297
Interest expense 5,447 7,113
Interest factor on rentals (1/3) 13 5
--------- ---------
Earnings $14,828 $9,415
Interest expense 5,447 7,113
Interest factor on rentals (1/3) 13 5
--------- ---------
Fixed charges $5,460 $7,118
Ratio of earnings to fixed charges 2.72 1.32
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Year-to-Date
9/30/96 9/30/95
- ----------------------------------------------------------- ---------
Income before income taxes $18,091 $7,677
Interest expense 16,158 23,682
Interest factor on rentals (1/3) 44 36
--------- ---------
Earnings $34,293 $31,395
Interest expense 16,158 23,682
Interest factor on rentals (1/3) 44 36
--------- ---------
Fixed charges $16,202 $23,718
Ratio of earnings to fixed charges 2.12 1.32
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