CONSOLIDATED BALANCE SHEETS U S WEST COMMUNICATIONS, INC. (Unaudited) June 30, December 31, In millions 1999 1998 - - --------------------------------------- ------------ ------------- ASSETS Current assets: Cash and cash equivalents $ 66 $ 68 Accounts receivable, net 1,640 1,619 Inventories and supplies 194 154 Deferred tax asset 109 113 Prepaid and other 115 61 ------------ ------------ Total current assets 2,124 2,015 Property, plant and equipment - net 15,224 14,681 Other assets - net 987 882 ------------ ------------- Total assets $ 2,124 $ 17,578 ============ ============= LIABILITIES AND STOCKHOLDER'S EQUITY Current liabilities: Short-term debt $ 1,342 $ 789 Accounts payable 1,446 1,411 Accrued expenses 1,604 1,383 Advance billings and deposits 337 326 ------------ ------------- Total current liabilities 4,729 3,909 Long-term debt 4,970 5,154 Postretirement and other postemployment benefit obligations 2,427 2,458 Deferred taxes, credits and other 1,747 1,594 Stockholder's equity 4,462 4,463 ------------ ------------- Total liabilities and stockholder's equity $ 18,335 $ 17,578 ============ =============