EX-99.3 5 d99289exv99w3.htm EX-99.3 STATEMENT OF CASH FLOWS Qwest Communications International Inc.
 

Exhibit 99.3

Qwest Communications International Inc.
Condensed Consolidated Statements of Cash Flows
(Dollars in millions)
(unaudited)

                     
        Six Months Ended June 30,
       
        2002   2001
       
 
OPERATING ACTIVITIES:
               
Net loss
  $ (1,834 )   $ (3,352 )
 
Adjustments to net loss:
               
   
Depreciation and amortization
    2,300       2,630  
   
Non-cash Merger-related charges
    (1 )     479  
   
Loss on sale of investments and fair market value adjustments — net
    26        
   
Provision for bad debts
    435       252  
   
Asset impairment charge
    1,333       3,247  
   
Equity loss on investments
    155       47  
   
Deferred income taxes
    (78 )     643  
   
(Gain) loss on early retirement of debt — net
    (6 )     65  
Changes in operating assets and liabilities:
               
 
Accounts receivable
    230       (857 )
 
Inventories, supplies, prepaids and other current assets
    55       (219 )
 
Accounts payable, accrued expenses and advance billings
    (718 )     2  
 
Restructuring and Merger-related reserves
    (251 )     (330 )
 
Other
    19       (130 )
 
   
     
 
 
Cash provided by operating activities
    1,665       2,477  
 
   
     
 
INVESTING ACTIVITIES
               
 
Expenditures for property, plant and equipment
    (1,814 )     (5,559 )
 
Proceeds from sale of assets
    62       91  
 
Other
    (3 )     (72 )
 
   
     
 
 
Cash used for investing activities
    (1,755 )     (5,540 )
 
   
     
 
FINANCING ACTIVITIES
               
 
Net proceeds from current borrowings
    97       2,182  
 
Proceeds from issuance of long-term borrowings — net
    1,476       3,247  
 
Repayments of long-term borrowings
    (236 )     (1,116 )
 
Restricted cash for the repayment of short-term borrowings
    (750 )      
 
Costs relating to the early retirement of debt
          (106 )
 
Proceeds from issuance of common stock
    11       280  
 
Repurchase of stock
    (12 )     (1,000 )
 
Debt issuance costs
          21  
 
Dividends paid on common stock
          (83 )
 
Other
    (54 )      
 
   
     
 
 
Cash provided by financing activities
    532       3,425  
 
   
     
 
CASH AND CASH EQUIVALENTS
               
 
Increase
    442       362  
 
Beginning balance
    257       154  
 
   
     
 
 
Ending balance
  $ 699     $ 516