COMBINED STATEMENTS OF OPERATIONS U S WEST MEDIA GROUP (UNAUDITED) Quarter Ended March 31, % Dollars in millions 1998 1997 Change - - ----------------------------------- ----------- --------------------- SALES AND OTHER REVENUES Cable and broadband $ 624 $ 556 12.2 Wireless communications 341 335 1.8 Directory and information services 307 309 (0.6) Other 7 7 - ----------- ----------- Total sales and other revenues 1,279 1,207 6.0 ----------- ----------- OPERATING EXPENSES Costs of sales and other revenues 424 406 4.4 Selling, general and administrative expenses 354 320 10.6 Depreciation 212 169 25.4 Amortization 144 134 7.5 ----------- ----------- Depreciation & amortization 356 303 17.5 ----------- ----------- Total operating expenses 1,134 1,029 10.2 ----------- ----------- Income from operations 145 178 (18.5) Interest expense (150) (175) (14.3) Equity losses in unconsolidated ventures (136) (165) (17.6) Gain on sale of investment - 51 - Guaranteed minority interest expense (22) (22) - Other expense - net (20) (4) - ----------- ----------- Loss before income taxes (183) (137) 33.6 Income tax benefit 48 28 71.4 ----------- ----------- NET LOSS (135) (109) 23.9 Dividends on preferred stock (13) (13) - ----------- ----------- LOSS AVAILABLE FOR COMMON STOCK $ (148)$ (122) 21.3 =========== =========== COMBINED STATEMENTS OF OPERATIONS U S WEST MEDIA GROUP (UNAUDITED) Quarter Ended In millions (except March 31, % per share amounts) 1998 1997 Change - - ----------------------------------- ----------- --------------------- Basic and diluted average common shares outstanding 608.3 606.5 0.3 =========== =========== Basic and diluted loss per common share $ (0.24)$ (0.20) 20.0 =========== ===========