EXHIBIT 99.2
QWEST COMMUNICATIONS INTERNATIONAL INC.
CONDENSED CONSOLIDATED BALANCE SHEETS(1)
(DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS)
(UNAUDITED)
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SEPTEMBER 30, DECEMBER 31,
2002 2001
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ASSETS
Current assets:
Cash and cash equivalents $ 1,133 $ 257
Accounts receivable-net 2,971 3,725
Inventories and supplies 96 170
Restricted cash 107 --
Prepaid and other 663 504
Assets held for sale 820 914
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Total current assets 5,790 5,570
Property, plant and equipment-net 29,180 30,165
Goodwill-net 29,696 29,696
Intangible assets-net 4,688 4,827
Investments 47 1,400
Other assets 2,303 2,123
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Total assets $ 71,704 $ 73,781
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LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current borrowings $ 2,388 $ 4,805
Accounts payable 1,063 1,488
Accrued expenses and other current liabilities 2,413 3,237
Advance billings and customer deposits 386 391
Liabilities held for sale 191 98
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Total current liabilities 6,441 10,019
Long-term borrowings 23,742 20,197
Post-retirement and other post-employment benefit
obligations 2,816 2,893
Deferred income taxes 2,169 2,194
Deferred credits and other 1,801 1,823
Commitments and contingencies (Note 6)
Stockholders' equity:
Preferred stock-$1.00 par value, 200 million shares
authorized, none issued and outstanding -- --
Common stock-$0.01 par value, 5 billion shares
authorized, 1,696 million and 1,687 million
issued, 1,681 million and 1,664 million outstanding 17 17
Additional paid-in capital 41,497 41,801
Treasury stock (636) (1,041)
Accumulated deficit (6,140) (4,082)
Accumulated other comprehensive loss (3) (40)
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Total stockholders' equity 34,735 36,655
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Total liabilities and stockholders' equity $ 71,704 $ 73,781
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(1) As previously mentioned throughout this document, the balance sheets presented above are
subject to material adjustment as a result of the pending restatement of our financial
statements, and asset impairment charges that we plan to record in our restated financial
statements for the second quarter of 2002. The aggregate expected reductions in total
stockholders' equity as of September 30, 2002 and December 31, 2001 will be approximately
$31 billion and $1 billion, respectively, and are subject to further changes.
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