MediaOne Group, Inc.
Proportionate Results Highlights (1)
(UNAUDITED)
Three Six
Months Ended Pro Months Ended Pro
Dollars in June 30, Forma(2) June 30, Forma(2)
millions
1999 1998 % % 1999 1998 % %
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Proportionate Revenue
MediaOne $ 665 $ 607 9.6% 10.1% $1,319 $1,226 7.6% 10.7%
Multimedia
Ventures (3) 781 728 7.3 9.7 1,529 1,470 4.0 8.2
International 456 341 33.7 22.6 896 659 36.0 24.8
Corporate
& other 3 26 (88.5)(183.3) 7 42 (83.3) (136.4)
----- ------ ------ ------ ----- ----- ------ ------
$1,905 $1,702 11.9% 12.0% $3,751 $3,397 10.4% 12.2%
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Proportionate Operating Cash Flow(4)
MediaOne $ 248 $ 239 3.8% 5.1% $ 489 $ 479 2.1% 2.7%
Multimedia
Ventures (3) 393 206 90.8 8.7 636 394 61.4 7.2
International 98 51 92.2 63.3 199 68 192.6 136.9
Corporate
& other (19) (17)(11.8) (9.1) (38) (30)(26.7) (2.9)
------- ------ ----- ----- ------- ------ ----- -----
$ 720 $ 479 50.3% 14.9% $1,286 $ 911 41.2% 17.3%
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(1) Excludes results for the domestic wireless operations which were
sold in April, 1998.
(2) Results reflect pro forma adjustments for acquisitions,
dispositions and other asset transactions. Total pro forma
revenue would be $1,897 and $1,694 for the three months ended
June 30, 1999 and 1998, respectively, and $3,740 and $3,333 for
the respective six month periods. Total pro forma operating
cash flow would be $525 and $457 for the three months ended
June 30, 1999 and 1998, respectively, and $1,038 and $885 for
the respective six month periods.
(3) Includes 25.51% of Time Warner Entertainment's reported results.
(4) Operating cash flow represents earnings before interest, taxes,
depreciation and amortization.
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