PRO FORMA EARNINGS NORMALIZATION SCHEDULE U S WEST, INC.
(UNAUDITED)
Quarter Ended Nine Months Ended
In millions, except September 30, % September 30, %
per share amounts 1998 1997 Change 1998 1997 Change
- - --------------------- ------- ------- -------------- ------- ------
NORMALIZED PRO FORMA INCOME:
Reported pro forma
net income $ 379 $ 380 (0.3) $1,068 $ 1,135 (5.9)
Adjustments:
Rural exchange sales - (19) - - (48) -
Separation costs - - - 68 - -
Asset impairment - - 21 - -
Extraordinary item-
net of tax - 3 - - 3 -
---------------- ----------------
Normalized pro forma
income $ 379 $ 364 4.1 $1,157 $ 1,090 6.1
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NORMALIZED PRO FORMA
BASIC EARNINGS PER SHARE:
Reported pro forma
basic earnings
per share $ 0.76 $ 0.76 - $ 2.13 $ 2.28 (6.6)
Adjustments:
Rural exchange sales - (0.04) - - (0.10) -
Separation costs - - - 0.13 - -
Asset impairment - - - 0.04 - -
Extraordinary item-
net of tax - 0.01 - - 0.01 -
---------------- ----------------
Normalized pro forma
basic earnings
per share $ 0.76 $ 0.73 4.1 $ 2.31 #$ 2.19 5.5
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NORMALIZED PRO FORMA
DILUTED EARNINGS
PER SHARE:
Reported pro forma
diluted earnings
per share $ 0.75 $ 0.75 - $ 2.11 $ 2.25 (6.2)
Adjustments:
Rural exchange sales - (0.04) - - (0.10) -
Separation costs - - - 0.13 - -
Asset impairment - - - 0.04 - -
Extraordinary item-
net of tax - 0.01 - - 0.01 -
---------------- ----------------
Normalized pro forma
diluted earnings
per share $ 0.75 $ 0.72 4.2 $ 2.29 #$ 2.16 6.0
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<FN>
# Amount does not foot due to rounding of the individual components.
</FN>
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