Exhibit 12 (Continued)
U S WEST, INC.
PRO FORMA RATIO OF EARNINGS TO FIXED CHARGES (1)
(Dollars in Millions)
Quarter Ended
9/30/98 9/30/97
- ------------------------------------------ --------- ---------
Pro forma income before income taxes
and extraordinary item $ 608 $ 609
Interest expense (net of amounts
capitalized) 172 165
Interest factor on rentals (1/3) 20 23
--------- ---------
Earnings $ 800 $ 797
Interest expense $ 178 $ 169
Interest factor on rentals (1/3) 20 23
--------- ---------
Fixed charges $ 198 $ 192
Ratio of earnings to fixed charges 4.04 4.15
- ------------------------------------------ --------- ---------
Nine Months Ended
9/30/98 9/30/97
- ------------------------------------------ --------- ---------
Pro forma income before income taxes
and extraordinary item $ 1,726 $ 1,815
Interest expense (net of amounts
capitalized) 495 500
Interest factor on rentals (1/3) 64 65
--------- ---------
Earnings $ 2,285 $ 2,380
Interest expense $ 512 $ 515
Interest factor on rentals (1/3) 64 65
--------- ---------
Fixed charges $ 576 $ 580
Ratio of earnings to fixed charges 3.97 4.10
- ------------------------------------------ --------- ---------
<FN>
(1) Based on the unaudited pro forma condensed combined
statements of income which give effect to the refinancing
by U S WEST of the Dex Indebtedness as if such transaction
had been consummated as of the beginning of each of the
periods presented.
</FN>