Cablevision 2014 Annual Report Download - page 64

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CASH FLOW DISCUSSION
Continuing Operations - Cablevision Systems Corporation
Operating Activities
Net cash provided by operating activities amounted to $1,378,271 for the year ended December 31, 2014 compared to $1,134,977
for the year ended December 31, 2013. The 2014 cash provided by operating activities resulted from $1,175,884 of income before
depreciation and amortization (including impairments) from continuing operations, $207,084 of non-cash items and $1,869 from
a decrease in current and other assets. Partially offsetting these increases was a decrease in cash of $6,566 as a result of a decrease
in accounts payable and other liabilities. The increase in cash provided by operating activities of $243,294 in 2014 as compared
to 2013 resulted from an increase in income from continuing operations before depreciation and amortization and other non-cash
items of $234,800 and an increase of $8,494 resulting from changes in working capital, including the timing of payments and
collections of accounts receivable, among other items.
Net cash provided by operating activities amounted to $1,134,977 for the year ended December 31, 2013 compared to $1,061,208
for the year ended December 31, 2012. The 2013 cash provided by operating activities resulted from $1,036,472 of income before
depreciation and amortization (including impairments) and $111,696 of non-cash items and an $17,304 increase in accounts payable,
other liabilities and amounts due to affiliates. Partially offsetting these increases were decreases in cash of $30,495 resulting from
an increase in current and other assets and advances to affiliates. The increase in cash provided by operating activities of $73,769
in 2013 as compared to 2012 resulted from an increase of $79,379 resulting from changes in working capital, including the timing
of payments and collections of accounts receivable, among other items, partially offset by a decrease in income from continuing
operations before depreciation and amortization and other non-cash items of $5,610.
Net cash provided by operating activities amounted to $1,061,208 for the year ended December 31, 2012 . The 2012 cash provided
by operating activities resulted from $982,100 of income before depreciation and amortization (including impairments) and
$171,678 of non-cash items. Partially offsetting these increases were decreases in cash of $55,383 resulting from a decrease in
liabilities related to interest rate swap contracts, a $28,974 increase in current and other assets and advances to affiliates and a
$8,213 decrease in accounts payable, other liabilities and amounts due to affiliates.
Investing Activities
Net cash used in investing activities for the year ended December 31, 2014 was $888,062 compared to $948,658 for the year ended
December 31, 2013. The 2014 investing activities consisted primarily of $891,678 of capital expenditures ($743,524 of which
relates to our Cable segment), partially offset by other net cash receipts of $3,616.
Net cash used in investing activities for the year ended December 31, 2013 was $948,658 compared to $993,072 for the year ended
December 31, 2012. The 2013 investing activities consisted primarily of $951,679 of capital expenditures ($806,678 of which
relates to our Cable segment), partially offset by other net cash receipts of $3,021.
Net cash used in investing activities for the year ended December 31, 2012 was $993,072. The 2012 investing activities consisted
primarily of $991,586 of capital expenditures ($850,061 of which relates to our Cable segment) and other net cash payments of
$1,486.
Financing Activities
Net cash used in financing activities amounted to $346,902 for the year ended December 31, 2014 compared to $655,054 for the
year ended December 31, 2013. In 2014, the Company's financing activities consisted primarily of repayments of credit facility
debt of $990,785, dividend distributions to common stockholders of $160,545, payments to repurchase senior notes, including
fees, of $36,097, principal payments on capital lease obligations of $15,481, additions to deferred financing costs of $14,273,
payments related to the net share settlement of restricted stock awards of $6,608, repayments of notes payable of $2,306, and
distributions to non-controlling interests of $1,014, partially offset by proceeds from the issuance of senior notes of $750,000, net
proceeds from collateralized indebtedness and related derivative contracts of $74,516, proceeds from stock option exercises of
$55,355 and an excess tax benefit related to share-based awards of $336.
Net cash used in financing activities amounted to $655,054 for the year ended December 31, 2013 compared to $661,539 for the
year ended December 31, 2012. In 2013, the Company's financing activities consisted primarily of payments to redeem and
repurchase senior notes, including premiums and fees, of $371,498, dividend payments to common stockholders of $159,709, net
repayments of credit facility debt of $148,991, additions to deferred financing costs of $27,080, payments of $12,262 related to
the net share settlement of restricted stock awards, principal payments on capital lease obligations of $13,828, other net cash