-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, lbDvJcH6O6OQAbf8Ta5wNSF0m4xlYFtz1EXDoWUVTyIMrzKCrntGl/guHCpzQ8cz UPZqonfoPjuMxDSMImsMRQ== 0000732718-95-000009.txt : 19950814 0000732718-95-000009.hdr.sgml : 19950814 ACCESSION NUMBER: 0000732718-95-000009 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 12 CONFORMED PERIOD OF REPORT: 19950630 ITEM INFORMATION: Changes in control of registrant FILED AS OF DATE: 19950731 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: US WEST INC CENTRAL INDEX KEY: 0000732718 STANDARD INDUSTRIAL CLASSIFICATION: 4813 IRS NUMBER: 840926774 STATE OF INCORPORATION: CO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08611 FILM NUMBER: 95557303 BUSINESS ADDRESS: STREET 1: 7800 E ORCHARD RD STREET 2: SUITE 480 CITY: ENGLEWOOD STATE: CO ZIP: 80111 BUSINESS PHONE: 3037936629 MAIL ADDRESS: STREET 1: 7800 EAST ORCHARD ROAD STREET 2: SUITE 480 CITY: ENGLEWOOD STATE: CO ZIP: 80111 8-K 1 FORM 8-K 6/30/95 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: July 28, 1995 U S WEST, INC. A Colorado Commission File IRS Employer Identification Corporation Number 1-8611 No. 84-0926774 7800 East Orchard Road, Englewood, Colorado 80111 Telephone Number (303) 793-6500 Item 7. Exhibits
EXHIBIT NO. DESCRIPTION 27 Financial Data Schedule 99A Press Release issued July 28, 1995 concerning the second quarter earnings results of U S WEST, Inc. (the "Company"). 99B.1 Unaudited Consolidated Statements of Income of the Company for quarters and six months ended June 30, 1994 and June 30, 1995, filed in connection with the Press Release dated July 28, 1995. 99B.2 Unaudited Selected Consolidated Data of the Company for quarters and six months ended June 30, 1994 and June 30, 1995, filed in connection with the Press Release dated July 28, 1995. 99B.3 Unaudited Consolidated Balance Sheets of the Company filed in connection with the Press Release dated July 28, 1995. 99B.4 Unaudited Consolidated Statements of Cash Flows of the Company for quarters and six months ended June 30, 1994 and June 30, 1995, filed in connection with the Press Release dated July 28, 1995. 99B.5 Unaudited Statements of Income of U S WEST Communications Group for quarters and six months ended June 30, 1994 and June 30, 1995, filed in connection with the Press Release dated July 28, 1995.
EXHIBIT NO. DESCRIPTION 99B.6 Unaudited Selected Combined Group Data for U S WEST Communications Group for quarters and six months ended June 30, 1994 and June 30, 1995, filed in connection with the Press Release dated July 28, 1995. 99B.7 Unaudited Combined Statements of Income for U S WEST Media Group for quarters and six months ended June 30, 1994 and June 30, 1995, filed in connection with the Press Release dated July 28, 1995. 99B.8 Unaudited Selected Combined Group Data for U S WEST Media Group for quarters and six months ended June 30, 1994 and June 30, 1995, filed in connection with the Press Release dated July 28, 1995. 99B.9 Selected Proportionate Financial Data filed in connection with the Press Release dated July 28, 1995.
SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. U S WEST, Inc. /s/ STEPHEN E. BRILZ By __________________________ Stephen E. Brilz Senior Attorney and Assistant Secretary Dated: July 28, 1995 EX-99 2 EX-99 PRESS RELEASE EXHBIT 99A U S WEST, Inc. 7800 East Orchard Road Englewood, Colorado 80111 303 793-6500 News Release U S WEST Release Date: July 28, 1995 Contact: Bruce Amundson (303) 793-6296 Lois Leach (303) 793-6355 U S WEST RECORDS RECORD REVENUE; STRONG CUSTOMER GROWTH CONTINUES FOR COMMUNICATIONS AND MEDIA GROUPS ENGLEWOOD, Colo. - A strong regional economy and continuing customer growth worldwide pushed U S WEST second quarter revenues to record levels. Revenues for the quarter ending June 30, 1995 were $2.9 billion, a 6.9 percent increase when compared with the second quarter last year. "All our businesses produced solid results during the second quarter," said Richard McCormick, U S WEST chairman and chief executive officer. "The core telephone business continues producing steady income growth despite the challenges of restructuring its business. I'm also encouraged by the customer growth and cash flow performance of our domestic and international growth investments." Other operational highlights, excluding gains from asset sales, for second quarter include: - - - EBITDA - earnings before interest, taxes, depreciation and amortization - was $1.2 billion, a 7.3 percent increase compared with last year. - - - Income was $308 million, a 3.1 percent decrease from last year. - - - Earnings per share (EPS) were $0.65, compared with $0.70 last year. "These results demonstrate why we are pursuing our targeted stock plan," McCormick said. "While investing in growth ventures is an important part of our business strategy, it dilutes the solid performance of our core telephone business. A targeted stock allows the market to better value all our businesses and help investors realize the full value of our long-term strategy." Under the company's current targeted stock proposal, U S WEST Communications Group (proposed NYSE symbol: USW) will track the 14-state telecommunications business. As a yield stock, it will continue paying dividends at the current rate. The other stock, U S WEST Media Group (proposed NYSE symbol: UMG), will track cable, multimedia, wireless, directory and international businesses. Because it is viewed as a growth stock, it will not pay a dividend. Shareholders will vote on the proposal later this fall. U S WEST COMMUNICATIONS GROUP Fueled by steady growth in access lines and revenue from new products, U S WEST Communications Group (Communications Group) reported increases in revenues, net income and EBITDA. "I'm pleased with the strength of our second quarter financial results, particularly our continued revenue growth," said Sol Trujillo, U S WEST Communications president and CEO. "However, our commitments to improve customer service and invest for future growth opportunities require even better performance." Operational highlights for Communications Group for the second quarter include: - - - Revenues of $2.3 billion, a 2.5 percent increase compared with the same period last year. Excluding regulatory changes affecting toll revenue and the effects of rural exchange sales, revenues increased 4 percent. - - - Income, excluding gains associated with the sale of selected exchanges, was $283 million, a 3.7 percent increase from last year. - - - EBITDA was $1.1 billion, a 5.1 percent increase from second quarter last year. - - - Subscriber growth - The number of telephone access lines served increased by 509,000, or 3.6 percent, compared with second quarter last year. Excluding the sale of selected rural exchanges, access lines increased 4.2 percent. - - - EPS on a pro forma basis was $0.60 for the second quarter, unchanged from last year. EPS excludes gains associated with the sale of selected rural exchanges. - - - Billed minutes of use, an indicator of long distance calling volume, grew by 9.4 percent when compared with second quarter last year. U S WEST Communications Group provides telecommunications and high speed data services to more than 25 million customers in 14 western and midwestern states. U S WEST MEDIA GROUP U S WEST Media Group (Media Group) continues generating strong results from its operations worldwide. "I'm pleased by the growth and financial performance of our domestic directory and cellular businesses considering the competitive pressures of these markets," said Chuck Lillis, U S WEST Media Group president and CEO. "I also thought our domestic cable operations performed well, especially Atlanta which continues to exceed the industry's customer growth rates. Meanwhile, our international operations continue producing sustained growth rates demonstrating their long-term potential." Proportionate financial highlights for second quarter include: - - - Revenues of $1.3 billion, a 22.6 percent increase compared with last year. - - - EBITDA of $286 million, an 18.7 increase from last year. Revenues and EBITDA growth are not adjusted for the effects of the sale of paging assets, and the purchase of the Atlanta cable properties. In domestic content and directory publishing, U S WEST Direct reported revenues of $253.9 million, a 6.6 percent increase from last year. EBITDA was $129.5 million, an 8.8 percent increase from second quarter last year. In wireless communications markets, the Media Group continues to increase its combined domestic and international customer base. - - - Domestically, U S WEST Cellular added 117,000 customers during the quarter bringing its subscriber base to 1.16 million customers, a 58 percent increase from second quarter last year. EBITDA was $71.6 million, a 51.7 percent increase from last year. EBITDA margin was 34.6 percent. - - - Subscribers to international wireless joint ventures increased during the quarter to 508,900, nearly three times the customer base a year ago. U S WEST operates wireless joint ventures in the United Kingdom, Hungary, the Czech Republic, Slovakia and Russia. In domestic cable-TV markets, U S WEST reaches nearly 10 million subscribers through its alliance with Time Warner Entertainment (TWE) and its Atlanta properties. - - - Subscribers served by the Atlanta operation increased 7.6 percent compared with June, 1994. This is nearly double the industry growth rate. Earlier this month, U S WEST filed for regulatory approval to provide telephone service across this network. - - - Excluding subscribers added through acquisitions, customers served by the TWE partnership increased 6 percent compared to second quarter 1994. In international cable-TV markets, U S WEST increased its international customer base for all ventures by nearly 14 percent. - - - Since June 1994, TeleWest Communications - a combined cable-TV and telephone venture in the United Kingdom - increased cable subscribers 48 percent to 255,000. In the same period, it increased the number of telephone lines served by 118 percent to 217,000. All numbers reflect TeleWest's proportionate ownership in various franchises. U S WEST Media Group operates cable and wireless networks, directory publishing, and interactive media services worldwide. # # # EX-99 3 EX-99B.1 EXHIBIT 99B.1
CONSOLIDATED STATEMENTS OF U S WEST, Inc. INCOME (UNAUDITED) Quarter Ended Six Months Ended In millions, except June 30, % June 30, % per share amounts 1995 1994 Change 1995 1994 Change - - ------------------------------ ------- -------------- ------- ------- SALES & OTHER REVENUES $2,894 $2,708 6.9 $5,722 $5,349 7.0 EXPENSES Employee-related 997 943 5.7 1,975 1,854 6.5 Other operating 559 518 7.9 1,069 995 7.4 Taxes other than income taxes 113 105 7.6 227 213 6.6 Depreciation & amort. 562 507 10.8 1,122 1,010 11.1 Interest expense 139 110 26.4 267 219 21.9 Equity losses in unconsol. ventures 33 22 50.0 90 57 57.9 Gains on asset sales: Rural tele. exchanges 15 24 (37.5) 78 48 62.5 Paging assets - 68 - - 68 - Other income - net 8 14 (42.9) 2 14 (85.7) ---------------- ---------------- Income before income 514 609 (15.6) 1,052 1,131 (7.0) taxes Income taxes 196 234 (16.2) 404 432 (6.5) ---------------- ---------------- NET INCOME 318 375 (15.2) 648 699 (7.3) Preferred dividends 1 - - 2 - - ---------------- ---------------- EARNINGS AVAILABLE FOR $ 317 $ 375 (15.5) $ 646 $ 699 (7.6) COMMON STOCK ================ ================ Average common shares 470.4 453.6 3.7 469.5 449.0 4.6 outstanding ================ ================ EARNINGS PER COMMON $0.67 $0.83 (19.3) $1.37 $1.56 (12.2) SHARE ================ ================ Note: Certain reclassifications within the financial statements have been made to conform to the current year presentation.
EX-99 4 EX-99B.2 EXHIBIT 99B.2 SELECTED CONSOLIDATED DATA U S WEST, Inc. (UNAUDITED)
Dollars in Quarter Ended Six Months Ended millions, except per June 30, % June 30, % share amounts 1995 1994 Change 1995 1994 Change - - ----------------------------- ------- ------ ------- ------- ------ EBITDA (#1) $1,225 $1,142 7.3 $2,451 $2,287 7.2 EBITDA margin 42.3% 42.2% - 42.8% 42.8% - Capital expenditures $ 744 $ 627 18.7 $1,365 $1,227 11.2 Return on common equity 16.6% 22.9% - 17.0% 22.1% - Debt-to-capital ratio (#2) 53.9% 51.8%# 61,448 61,320 0.2 61,448 61,320 0.2 # As of December 31, 1994 # 1: Earnings before interest, taxes, depreciation, amortization, and other (EBITDA). EBITDA also excludes gains on sales of assets and equity losses. # 2: Ratio excludes preferred stock. 1995 and 1994 Ratios, including the debt included in the net investment in assets held for sale, are 56.5% and 55.5%, respectively. # 3: 1995 Includes 903 additional employees due to the December 1994 acquisition of the Atlanta cable properties.
EX-99 5 EX-99B.3 EXHIBIT 99B.3 CONSOLIDATED BALANCE SHEETS U S WEST, Inc. (UNAUDITED)
June 30, December 31, In millions 1995 1994 - - --------------------------------------- ---------------------- ASSETS Current assets: Cash and cash equivalents $ 87 $ 209 Accounts and notes receivable 1,824 1,693 Inventories and supplies 212 189 Deferred tax asset 348 352 Prepaid and other 341 323 ---------------------- Total current assets 2,812 2,766 ---------------------- Property, plant and equipment - net 14,089 13,997 Investment in Time Warner Entertainment 2,510 2,522 Intangible assets - net 1,872 1,858 Investment in international ventures 1,131 881 Net investment in assets held for sale 422 302 Other assets 1,357 878 ---------------------- Total assets $24,193 $23,204 ====================== LIABILITIES AND SHAREOWNERS' EQUITY Current liabilities: Short-term debt $ 4,364 $ 2,837 Accounts payable 771 944 Employee compensation 335 367 Dividends payable 252 251 Current portion of restructuring charges 354 337 Other 1,455 1,278 ---------------------- Total current liabilities 7,531 6,014 ---------------------- Long-term debt 4,626 5,101 Postretirement and other postemployment benefit obligations 2,315 2,502 Deferred taxes, credits and other 1,991 2,154 Preferred stock subject to 51 51 mandatory redemption Common shareowners' equity: Common shares 8,123 8,056 Cumulative deficit (282) (458) LESOP guarantee (157) (187) Foreign currency translation adjustments (5) (29) ---------------------- Total common shareowners' equity 7,679 7,382 ---------------------- Total liabilities and shareowners' equity $24,193 $23,204 ======================
EX-99 6 EX-99B.4 EXHBIT 99B.4 CONSOLIDATED STATEMENTS OF U S WEST, Inc. CASH FLOWS (UNAUDITED)
Six Months Ended June 30, In millions 1995 1994 - - --------------------------------------------------------------------- OPERATING ACTIVITIES Net income $ 648 $ 699 Adjustments to net income: Depreciation and amortization 1,122 1,010 Postretirement medical and life costs, net of cash fundings (144) (48) Gains on sales of assets: Rural telephone exchanges (78) (48) Paging assets - (68) Equity losses in unconsolidated ventures 90 57 Deferred income taxes and amortization of investment tax credits 63 90 Changes in operating assets and liabilities: Restructuring payments (182) (63) Accounts and notes receivable (127) (53) Inventories, supplies and other (68) (101) Accounts payable and accrued liabilities 39 7 Other - net 66 56 - - --------------------------------------------------------------------- Cash provided by operating activities 1,429 1,538 - - --------------------------------------------------------------------- INVESTING ACTIVITIES Expenditures for property, plant and equipment (1,265) (1,282) Investment in international ventures (291) (151) Proceeds from disposals of property, plant and equipment 112 47 Cash (to) from net investment in assets held for sale (37) - Other - net (281) (90) - - --------------------------------------------------------------------- Cash (used) for investing activities (1,762) (1,476) - - --------------------------------------------------------------------- FINANCING ACTIVITIES Net proceeds from short-term debt 1,103 212 Proceeds from issuance of long-term debt - 251 Repayments of long-term debt (390) (327) Dividends paid on common stock (462) (440) Proceeds from issuance of common stock 23 295 Purchase of treasury stock (63) - - - --------------------------------------------------------------------- Cash provided by (used for) financing activities 211 (9) - - --------------------------------------------------------------------- Cash (used for) provided by continuing operations (122) 53 - - --------------------------------------------------------------------- Cash from discontinued operations - 48 - - --------------------------------------------------------------------- CASH AND CASH EQUIVALENTS (Decrease) Increase (122) 101 Beginning balance 209 128 - - --------------------------------------------------------------------- Ending balance $ 87 $ 229 ============================================================================= Note: Certain reclassifications within the financial statements have been made to conform to the current year presentation.
EX-99 7 EX-99B.5 EXHIBIT 99B.5 COMBINED STATEMENTS OF INCOME U S WEST COMMUNICATIONS Group (UNAUDITED)
Quarter Ended Six Months Ended In millions, except June 30, % June 30, % per share amounts 1995 1994 Change 1995 1994 Change - - ------------------------------ ------- -------------- ------- ------- OPERATING REVENUES Local service $ 1,076 $ 1,016 5.9 $ 2,126 $ 2,001 6.2 Interstate access 591 556 6.3 1,180 1,118 5.5 Intrastate access 184 179 2.8 372 353 5.4 Long-distance network 294 345 (14.8) 593 696 (14.8) Other services 193 185 4.3 385 366 5.2 ---------------- ---------------- Total operating revenue 2,338 2,281 2.5 4,656 4,534 2.7 ---------------- ---------------- OPERATING EXPENSES Employee-related 831 805 3.2 1,644 1,583 3.9 Other operating 346 371 (6.7) 695 734 (5.3) Taxes other than income taxes 105 100 5.0 211 199 6.0 Depreciation & amort. 502 474 5.9 1,001 944 6.0 ---------------- ---------------- Total operating 1,784 1,750 1.9 3,551 3,460 2.6 expenses ---------------- ---------------- Income from operations 554 531 4.3 1,105 1,074 2.9 Interest expense 106 93 14.0 207 183 13.1 Gain on sales of rural telephone exchanges 15 24 (37.5) 78 48 62.5 Other expense - net 3 6 (50.0) 16 16 - ---------------- ---------------- Income before income 460 456 0.9 960 923 4.0 taxes Income taxes 167 167 - 352 339 3.8 ---------------- ---------------- NET INCOME $ 293 $ 289 1.4 $ 608 $ 584 4.1 ================ ================ Pro forma average 470.4 453.6 3.7 469.5 449.0 4.6 shares outstanding ================ ================ Pro forma earnings $ 0.62 $ 0.64 (3.1) $ 1.29 $ 1.30 (0.8) per share ================ ================ Note: Certain reclassifications within the financial statements have been made to conform to the current year presentation.
EX-99 8 EX-99B.6 EXHIBIT 99B.6 SELECTED COMBINED GROUP DATA U S WEST COMMUNICATIONS Group (UNAUDITED)
Dollars in Quarter Ended Six Months Ended millions, except June 30, % June 30, % per share amounts 1995 1994 Change 1995 1994 Change - - ---------------------------- ------- ------ ------- ------- ------- EBITDA (#1) $1,056 $1,005 5.1 $2,106 $2,018 4.4 EBITDA margin 45.2% 44.1% - 45.2% 44.5% - Capital expenditures $ 648 $ 564 14.9 $1,193 $1,118 6.7 Return on equity 36.8% 40.2% - 38.2% 40.6% - Debt-to-capital ratio 67.6% 65.8%# 67.6% 65.8%# - Employees: Communications Grp 51,169 52,937 (3.3) 51,169 52,937 (3.3) Telephone operations only 48,143 49,252 (2.3) 48,143 49,252 (2.3) Pro forma dividends per share $ 0.535 $ 0.535 - $1.07 $1.07 - Access lines (thousands) (#2): Business 4,176 3,961 5.4 4,176 3,961 5.4 Consumer 10,342 10,048 2.9 10,342 10,048 2.9 Total access lines 14,518 14,009 3.6 14,518 14,009 3.6 Billed access minutes of use (millions): Interstate 11,880 10,887 9.1 23,474 21,507 9.1 Intrastate 2,339 2,112 10.7 4,584 4,123 11.2 Total minutes of use 14,219 12,999 9.4 28,058 25,630 9.5 # As of December 31, 1994 # 1: Earnings before interest, taxes, depreciation, amortization, and other (EBITDA). EBITDA also excludes gains on sales of assets. # 2: Access line growth excluding rural exchange sales was 4.2%.
EX-99 9 EX-99B.7 EXHIBIT 99B.7 COMBINED STATEMENTS OF INCOME U S WEST COMMUNICATIONS Group (UNAUDITED)
Quarter Ended Six Months Ended In millions, except June 30, % June 30, % per share amounts 1995 1994 Change 1995 1994 Change - - ------------------------------ ------- -------------- ------- ------- OPERATING REVENUES Local service $ 1,076 $ 1,016 5.9 $ 2,126 $ 2,001 6.2 Interstate access 591 556 6.3 1,180 1,118 5.5 Intrastate access 184 179 2.8 372 353 5.4 Long-distance network 294 345 (14.8) 593 696 (14.8) Other services 193 185 4.3 385 366 5.2 ---------------- ---------------- Total operating revenue 2,338 2,281 2.5 4,656 4,534 2.7 ---------------- ---------------- OPERATING EXPENSES Employee-related 831 805 3.2 1,644 1,583 3.9 Other operating 346 371 (6.7) 695 734 (5.3) Taxes other than income taxes 105 100 5.0 211 199 6.0 Depreciation & amort. 502 474 5.9 1,001 944 6.0 ---------------- ---------------- Total operating 1,784 1,750 1.9 3,551 3,460 2.6 expenses ---------------- ---------------- Income from operations 554 531 4.3 1,105 1,074 2.9 Interest expense 106 93 14.0 207 183 13.1 Gain on sales of rural telephone exchanges 15 24 (37.5) 78 48 62.5 Other expense - net 3 6 (50.0) 16 16 - ---------------- ---------------- Income before income 460 456 0.9 960 923 4.0 taxes Income taxes 167 167 - 352 339 3.8 ---------------- ---------------- NET INCOME $ 293 $ 289 1.4 $ 608 $ 584 4.1 ================ ================ Pro forma average 470.4 453.6 3.7 469.5 449.0 4.6 shares outstanding ================ ================ Pro forma earnings $ 0.62 $ 0.64 (3.1) $ 1.29 $ 1.30 (0.8) per share ================ ================ Note: Certain reclassifications within the financial statements have been made to conform to the current year presentation.
EX-99 10 EX-99B.8 EXHIBIT 99B.8 SELECTED COMBINED GROUP DATA U S WEST MEDIA Group (UNAUDITED)
Quarter Ended Six Months Ended Dollars in June 30, % June 30, % millions 1995 1994 Change 1995 1994 Change - - ----------------- ------- ------- ------- ------- ------- ------- CABLE AND TELECOMMUNICATIONS (#1) (Wholly Owned Subsidiary) Basic subscribers 509,000 473,000 7.6 509,000 473,000 7.6 served Homes passed 832,000 798,000 4.3 832,000 798,000 4.3 Basic penetration 61.2% 59.3% - 61.2% 59.3% - WIRELESS COMMUNICATIONS (Wholly Owned Subsidiary) Service revenue $207.2 $151.8 36.5 $392.7 $285.8 37.4 Equipment revenue $ 20.7 $ 29.2 (29.1) $ 37.4 $ 51.0 (26.7) EBITDA (#2) $ 71.6 $ 47.2 51.7 $132.6 $ 80.7 64.3 EBITDA margin 34.6% 31.1% - 33.8% 28.2% - Cellular subscribers (consolidated) 1,165,000 738,000 57.9 1,165,000 738,000 57.9 Total POPs (managed) (millions) 18.7 18.0 3.9 18.7 18.0 3.9 MULTIMEDIA CONTENT & SERVICES (Domestic Directory Publishing) Revenues $253.9 $238.1 6.6 $503.5 $470.4 7.0 EBITDA $129.5 $119.0 8.8 $256.2 $234.6 9.2 Net income $ 76.0 $ 69.6 9.2 $149.8 $137.4 9.0 # 1: U S WEST acquired the Atlanta cable properties on December 6, 1994. The 1994 data is presented for comparative purposes only. # 2: Earnings before interest, taxes, depreciation, amortization, and other (EBITDA). EBITDA also excludes gains on sales of assets and equity losses. Note: Certain reclassifications have been made to conform to the current year presentation.
EX-99 11 EX-99B.9 EXHIBIT 99B.9 U S WEST Media Group -- Selected Proportionate Financial Data(1)
Cable and Media Content Financial Data Telecomm. Wireless and Services Total (millions): Dom.(2) Int'l Dom. Int'l Dom. Int'l QTR Ended June 30, 1995 Revenues $ 670 $32 $193 $ 74 $264 $30 $1,263 Operating exp. (520 (44) (133) (87) (163) (30) (977) Depr. & amort. (106) (9) (26) (13) (6) (2) (162) Operating income/(loss) 44 (21) 34 (26) 95 (2) 124 Net income (loss) (16) (2) 19 (32) 57 (1) 25 QTR Ended June 30, 1994(3) Revenues $ 528 $25 $181 $ 39 $246 $11 $1,030 Operating exp. (414) (35) (131) (56) (141) (12) (789) Depr. & amort. (79) (8) (23) (9) (6) (1) (126) Operating income/(loss) 35 (18) 27 (26) 99 (2) 115 Net income (loss) (9) (10) 52 (14) 68 (1) 86 YTD June 30, 1995 Revenues $1,251 $56 $361 $134 $524 $44 $2,370 Operating exp. (973) (79) (249) (159) (313) (48) (1,821) Depr. & amort. (201) (19) (50) (22) (13) (5) (310) Operating income/(loss) 77 (42) 62 (47) 198 (9) 239 Net income (loss) (32) (13) 31 (60) 119 (5) 40 YTD June 30, 1994(3) Revenues $1,023 $43 $313 $ 69 $490 $11 $1,949 Operating exp. (803) (63) (236) (92) (280) (13) (1,487) Depr. & amort. (151) (15) (41) (17) (12) (1) (237) Operating income/(loss) 69 (35) 36 (40) 198 (3) 225 Net income (loss) (14) (18) 54 (35) 130 (2) 115 YTD June 30, 1995 EBITDA (millions) 2nd Qtr $ 150 $(12) $ 60 $ (13) $101 $ - $ 286 Six Months $ 278 $(23) $112 $ (25) $211 $ (4) $ 549 Subscribers/ Customers 2,887 237 988 241 _ _ 4,353 Advertisers Homes passed 4,550 646 - - - - 5,196 POPs - - 18,900 38,300 57,200 Telephone lines - 93 - - - - 93 YTD June 30, 1994(3) EBITDA (millions) 2nd Qtr $ 114 $(10) $ 50 $ (17) $105 $ (1) $241 Six Months $ 220 $(20) $ 77 $ (23) $210 $ (2) $462 Subscribers/ Customers 1,853 225 624 90 - - 2,792 Advertisers - - - - 464 120 584 Homes passed 3,092 588 - - - - 3,680 POPs - - 18,500 38,300 - - 56,800 Telephone lines - 58 - - - - 58 (1) Proportionate data reflects the Media Group's relative ownership interest in revenues and EBITDA for both its consolidated and equity method entities. Proportionate data is not required by GAAP or intended to replace the Combined Financial Statements prepared in accordance with GAAP. (2) Includes the Media Group's 25.51 percent pro-rata priority and residual equity interests in reported TWE results. (3) Results do not include the Atlanta cable properties which U S WEST Inc. acquired in December 1994. Results include the paging operation which was sold in the 2nd quarter. Paging revenue, EBITDA and net income for the quarter was $14, $5 and $42 and for the six months was $28, $11 and $44.
EX-27 12 FINANCIAL DATA SCHEDULE
5 0000732718 U S WEST, INC. 1,000,000 3-MOS 6-MOS DEC-31-1995 DEC-31-1995 JUN-30-1995 JUN-30-1995 87 87 0 0 1,824 1,824 0 0 212 212 2,812 2,812 31,733 31,733 17,644 17,644 24,193 24,193 7,531 7,531 4,626 4,626 8,123 8,123 51 51 0 0 (444) (444) 24,193 24,193 2,894 5,722 2,894 5,722 0 0 0 0 2,231 4,393 0 0 139 267 514 1,052 196 404 318 648 0 0 0 0 0 0 318 648 .67 1.37 .67 1.37
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