
In an unexpected turn, the original distributor officially sanctioned this fan-edit by releasing it in a box-set with the other two versions. It was compiled from several broadcast versions, containing all of the additional footage from the TV version while restoring the previously censored parts. A fan-edit of the film, called 'Waterworld: The Ulysses Cut' (named after a restored scene at the end), was later made in an attempt to create the most complete version of the movie. Being a TV special, this version was also censored for violence and language. The additional scenes also tie up several loose ends in the theatrical release. ABC later broadcast an extended TV version that restored almost 40 minutes of deleted scenes, which explain more about the world, the people who live there, the Smokers' religious beliefs and their ability to refine crude oil.

Some viewers may be grossed out by the introduction of the Kevin Costner character, urinating and then distilling/drinking his own urine.The preferred 3-hour cut of director Kevin Reynolds was drastically edited back to a 135-minute theatrical version by Kevin Costner and the studio, probably in an effort to recoup the film's inflated $175 million dollar budget (since Costner's previous 3-hour movie Wyatt Earp (1994) had been a box office bomb). The flamboyant lead villain, at one point, is made to look like a Christian evangelical preacher. Much cigarette smoking, and some drinking-carousing happens among the bad guys. Swearing includes one use of the F-word, multiple S-bombs. A little girl is occasionally threatened with danger/death, usually via drowning. There's a gruesome threat of execution by drowning in some sort of sludge made from human decomposition, and a mutilated main villain demonstrates graphically that he's lost an eye.

Frequent violence includes death by machine guns, spears guns, bombs, crashes, knife slashes, drownings, and fireballs. The heroine is glimpsed naked from the rear as she tries to use her body to bribe the hero (he declines the offer), and there's a near-rape of her by another man in a similar "business" arrangement.

Parents need to know that this post-apocalyptic epic postulates a semi-barbarous future where everything is traded and bartered - including sex.
