CONSOLIDATED BALANCE SHEETS U S WEST, Inc. (Unaudited) June 30, December 31, In millions 1999 1998 - - ------------------------------------- ------------ -------------- ASSETS Current assets: Cash and cash equivalents $ 122 $ 49 Accounts receivable, net 1,730 1,743 Inventories and supplies 264 197 Deferred directory costs 272 274 Deferred tax asset 153 151 Prepaid and other 129 78 ------------ -------------- Total current assets 2,670 2,492 Property, plant and equipment - net 15,480 14,908 Other assets - net 3,741 1,007 ------------ -------------- Total assets $ 21,891 $ 18,407 ============ ============== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Short-term debt $ 4,218 $ 1,277 Accounts payable 1,352 1,347 Accrued expenses 1,951 1,702 Advance billings and deposits 381 370 ------------ -------------- Total current liabilities 7,902 4,696 Long-term debt 8,458 8,642 Postretirement and other postemployment benefit obligations 2,634 2,643 Deferred taxes, credits and other 1,831 1,671 Stockholders' equity 1,066 755 ------------ -------------- Total liabilities and stockholders' equity $ 21,891 $ 18,407 ============ ==============