EX-99.3 5 d01260exv99w3.txt EX-99.3 CONSOLIDATED STATEMENTS OF CASH FLOWS EXHIBIT 99.3 QWEST COMMUNICATIONS INTERNATIONAL INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (DOLLARS IN MILLIONS) (UNAUDITED)
NINE MONTHS ENDED SEPTEMBER 30, ------------------------------- 2002 2001 ------------- -------------- OPERATING ACTIVITIES: Net loss $ (2,048) $ (3,494) Adjustments to net loss: Income from discontinued operations, net of income taxes (349) (364) Depreciation and amortization 3,430 3,924 Loss on sale of investments and fair market value adjustments - net 22 -- Provision for bad debts 581 405 Asset impairment charge 1,339 3,247 Equity loss on investments 155 74 Deferred income taxes (294) 829 (Gain) loss on sales of rural exchanges and fixed assets 5 (50) (Gain) loss on early retirement of debt-net (6) 65 Changes in operating assets and liabilities: Accounts receivable 161 (875) Inventories, supplies, prepaids and other current assets 58 (501) Accounts payable, accrued expenses and advance billings (1,066) (444) Restructuring and Merger-related reserves (252) 37 Other 53 156 ------------ ------------ Cash provided by operating activities 1,789 3,009 ------------ ------------ INVESTING ACTIVITIES Expenditures for property, plant and equipment (2,318) (7,791) Other 63 (24) ------------ ------------ Cash used for investing activities (2,255) (7,815) ------------ ------------ FINANCING ACTIVITIES Net proceeds from current borrowings 809 968 Proceeds from issuance of long-term borrowings - net 1,476 6,937 Repayments of long-term borrowings (1,117) (2,269) Restricted cash for the repayment of short-term borrowings (107) -- Costs relating to the early retirement of debt -- (106) Proceeds from issuance of common stock 12 296 Repurchase of stock (12) (1,000) Debt issuance costs (152) (41) Dividends paid on common stock -- (83) ------------ ------------ Cash provided by financing activities 909 4,702 ------------ ------------ CASH AND CASH EQUIVALENTS Increase 443 (104) Net cash provided by discontinued operations 433 375 Beginning balance 257 154 ------------ ------------ Ending balance $ 1,133 $ 425 ============ ============