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EXHIBIT 11
U S WEST, Inc.
Computation of Earnings Per Common Share
(In Thousands, Except Per Share Amounts)
1994 1993
4th Quarter YTD 4th Quarter YTD
----------- ---------- ----------- -----------
Income from continuing operations $409,523 $1,426,505 $264,025 $475,858
Discontinued operations:
Income to June 1, 1993, net of tax - - - 38,526
Estimated loss from June 1, 1993
through disposal, net of tax - - - (100,000)
Income tax rate change - - - (20,000)
----------- ---------- ----------- -----------
Income before extraordinary items 409,523 1,426,505 264,025 394,384
Extraordinary items (net of tax):
Discontinuance of SFAS No. 71 - - - (3,123,000)
Early extinguishment of debt - - - (77,220)
----------- ---------- ----------- -----------
Net income (loss) 409,523 1,426,505 264,025 (2,805,836)
Less preferred dividends 875 1,167 - -
----------- ---------- ----------- -----------
Net income (loss) available for
common share calculation $408,648 $1,425,338 $264,025 ($2,805,836)
=========== ========== =========== ===========
EARNINGS (LOSS) PER COMMON SHARE:
Weighted average common shares 460,079 453,316 429,196 419,365
outstanding =========== ========== =========== ===========
Income from continuing operations $0.89 $3.14 $0.62 $1.13
Discontinued operations:
Income to June 1, 1993, net of tax - - - 0.09
Estimated loss from June 1, 1993
through disposal, net of tax - - - (0.24)
Income tax rate change - - - (0.04)
----------- ---------- ----------- -----------
Income before extraordinary items 0.89 3.14 0.62 0.94
Extraordinary items (net of tax):
Discontinuance of SFAS No. 71 - - - (7.45)
Early extinguishment of debt - - - (0.18)
----------- ---------- ----------- -----------
Earnings (loss) per common share $0.89 $3.14 $0.62 ($6.69)
=========== ========== =========== ===========
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EXHIBIT 11
U S WEST, Inc.
Computation of Earnings Per Common Share
(In Thousands, Except Per Share Amounts)
EARNINGS (LOSS) PER COMMON AND COMMON
EQUIVALENT SHARE:
1994 1993
4th Quarter YTD 4th Quarter YTD
----------- ---------- ----------- --------
Weighted average common shares 460,079 453,316 429,196 419,365
outstanding
Incremental shares from assumed
exercise of stock options 344 469 482 424
----------- ---------- ----------- --------
Total common shares 460,423 453,785 429,678 419,789
=========== ========== =========== ========
Income from continuing operations $0.89 $3.14 $0.61 $1.13
Discontinued operations:
Income to June 1, 1993, net of tax - - - 0.09
Estimated loss from June 1, 1993
through disposal, net of tax - - - (0.24)
Income tax rate change - - - (0.04)
----------- ---------- ----------- --------
Income before extraordinary items 0.89 3.14 0.61 0.94
Extraordinary items (net of tax):
Discontinuance of SFAS No. 71 - - - (7.45)
Early extinguishment of debt - - - (0.18)
----------- ---------- ----------- --------
Earnings (loss) per common and $0.89 $3.14 $0.61 ($6.69)
common equivalent share =========== ========== =========== ========
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EXHIBIT 11
U S WEST, Inc.
Computation of Earnings Per Common Share
(In Thousands, Except Per Share Amounts)
EARNINGS (LOSS) PER COMMON SHARE-ASSUMING
FULL DILUTION:
1994 1993
4th Quarter YTD 4th Quarter YTD
----------- ---------- ----------- --------
Income from continuing operations $409,523 $1,426,505 $264,025 $475,858
Interest on Convertible Liquid Yield
Option Notes (LYONS) 5,635 21,872 5,417 *
----------- ---------- ----------- --------
Adjusted income from continuing operations 415,158 1,448,377 269,442 475,858
Less preferred dividends 875 1,167 - -
----------- ---------- ----------- --------
Adjusted income from continuing
operations available for common $414,283 $1,447,210 $269,442 $475,858
share calculation =========== ========== =========== ========
Weighted average common shares
outstanding 460,079 453,316 429,196 419,365
Incremental shares from assumed
exercise of stock options 344 469 482 464
Shares issued upon conversion of LYONS 9,894 10,057 10,233 *
----------- ---------- ----------- --------
Total common shares 470,317 463,842 439,911 419,829
=========== ========== =========== ========
Adjusted income from continuing operations $0.88 $3.12 $0.61 $1.13
Discontinued operations:
Income to June 1, 1993, net of tax - - - 0.09
Estimated loss from June 1, 1993
through disposal, net of tax - - - (0.24)
Income tax rate change - - - (0.04)
----------- ---------- ----------- --------
Income before extraordinary items 0.88 3.12 0.61 0.94
Extraordinary items (net of tax):
Discontinuance of SFAS No. 71 - - - (7.45)
Early extinguishment of debt - - - (0.18)
Earnings (loss) per common share $0.88 $3.12 $0.61 ($6.69)
assuming full dilution =========== ========== =========== ========
* Amounts are excluded from fully diluted earnings (loss) per common share
calculation due to their anti-dilutive effect.
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