PRO FORMA EARNINGS NORMALIZATION SCHEDULE U S WEST, Inc. (UNAUDITED) Inmillions except per ------------1997---------------1998 share amounts Qtr 1 Qtr 2 Qtr 3 Qtr 4 Total Qtr 1 - - - ----------------------- -------------------------------------- ------ NORMALIZED PRO FORMA INCOME: Reported pro forma net income 380 375 380 227 1,362 393 Adjustments: Rural exchange sales (11) (18) (19) - (48) - Gain on Bellcore sale - - - (32) (32) - Early debt extinguishment - - 3 - 3 - --------------------------------------- ------ Normalized pro forma income 369 357 364 195 1,285 393 ======================================= ====== NORMALIZED BASIC PRO FORMA EARNINGS PER SHARE: Reported pro forma basic earnings per share 0.76 0.75 0.76 0.45 2.73 0.78 Adjustments: Rural exchange sales (0.02) (0.04) (0.04) - (0.10) - Gain on Bellcore sale - - - (0.06) (0.06) - Early debt extinguishment - - 0.01 - 0.01 - --------------------------------------- ------ Normalized pro forma basic earnings per share 0.74 0.72 0.73 0.39 2.57 0.78 ======================================= ====== NORMALIZED DILUTED PRO FORMA EARNINGS PER SHARE: Reported diluted pro forma earnings per share 0.75 0.74 0.75 0.45 2.70 0.78 Adjustments: Rural exchange sales (0.02) (0.04) (0.04) - (0.09) - Gain on Bellcore sale - - - (0.06) (0.06) - Early debt extinguishment - - 0.01 - 0.01 - --------------------------------------- ------ Normalized pro forma diluted earnings per share 0.73 0.71 0.72 0.39 2.55 0.78 ======================================= ====== Amounts may not foot due to rounding of individual components.