Cogeco 2013 Annual Report Download - page 57

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56 COGECO CABLE INC. 2013 Consolidated financial statements
CONSOLIDATED STATEMENTS OF CASH FLOWS
Years ended August 31, 2013 2012
(In thousands of Canadian dollars) $$
Cash flow from operating activities
Profit for the year from continuing operations 185,083 169,517
Adjustments for:
Depreciation and amortization (note 7) 382,714 275,003
Income taxes (note 9) 62,842 78,656
Financial expense (note 8) 128,314 64,007
Share-based payment (note 16 D)) 3,784 2,373
Loss (gain) on disposals and write-offs of property, plant and equipment (586)1,352
Defined benefit pension plans contributions, net of expense (2,357)(2,816)
759,794 588,092
Changes in non-cash operating activities (note 18 A)) (23,331)3,493
Income taxes paid (100,110) (79,728)
Financial expense paid (91,343)(61,471)
545,010 450,386
Cash flow from investing activities
Acquisition of property, plant and equipment (388,698) (359,581)
Acquisition of intangible and other assets (18,567)(15,787)
Business combinations, net of cash and cash equivalents acquired (note 5) (2,005,667)(542)
Other 3,144 1,199
(2,409,788)(374,711)
Cash flow from financing activities
Increase in bank indebtedness 13,166 —
Net increases (repayments) under the revolving facilities 550,748 (110,000)
Issuance of long-term debt, net of discounts and transaction costs 1,953,016 197,839
Repayments of long-term debt (761,951) (2,102)
Increase in deferred transaction costs (5,410)(1,348)
Repayment of balance due on a business combination (11,400)—
Issuance of subordinate voting shares (note 16 B)) 2,362 1,295
Acquisition of subordinate voting shares held in trust under the Incentive Share Unit Plan (note 16 B)) (4,076)(3,049)
Disposal of subordinate voting shares held in trust under the Incentive Share Unit Plan —693
Dividends paid on multiple voting shares (16,319)(15,691)
Dividends paid on subordinate voting shares (34,272)(32,965)
1,685,864 34,672
Effect of exchange rate changes on cash and cash equivalents denominated in foreign currencies 3,098 —
Net change in cash and cash equivalents from continuing operations (175,816) 110,347
Net change in cash and cash equivalents from discontinued operations (note 21) —49,597
Cash and cash equivalents, beginning of the year 215,391 55,447
Cash and cash equivalents, end of the year 39,575 215,391