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63 Comcast 2006 Annual Report Notes to Consolidated Financial Statements
to our consolidated results of operations or cash flows of any
one period.
Note 12: Statement of Cash Flows — Supplemental
Information
In 2006, we began presenting our cash overdrafts resulting from
checks drawn on zero balance accounts (“book overdrafts”) within
accounts payable and accrued expenses related to trade credi-
tors. Previously, these book overdrafts were included within cash
and cash equivalents. The financial statements reflect this revised
presentation in prior periods. Accordingly, the reported amounts of
our cash and cash equivalents and accounts payable and accrued
expenses related to trade creditors increased as of December 31,
2005, 2004 and 2003, by $254 million, $341 million and $189
million, respectively, and net cash provided by operating activities
decreased by $87 million in 2005 and increased by $152 million
in 2004.
The following table summarizes our cash payments for interest and
income taxes:
Year Ended December 31 (in millions) 2006 2005 2004
Interest $ 1,880 $ 1,809 $ 1,898
Income taxes $ 1,284 $ 1,137 $ 205
During 2006, we:
• exchanged investments for cable systems in the Redemptions
with a fair value of approximately $3.2 billion and cable systems
for cable systems in the Exchanges with a fair value of approxi-
mately $8.5 billion (see Note 5), which are considered noncash
investing activities
• acquired an additional equity interest with a fair value of $21
million and recorded a liability, for a corresponding amount in
connection with our achievement of certain subscriber launch
milestones, which is considered a noncash investing and operat-
ing activity
• in connection with the Susquehanna transaction (see Note 5),
we assumed a $185 million principal amount variable-rate term
loan due 2008, which is considered a noncash financing and
investing activity
During 2005, we:
• settled through noncash financing and investing activities
approximately $1.347 billion related to our Exchangeable Notes
by delivering the underlying securities to the counterparties upon
maturity of the instruments, and the equity collar agreements
related to the underlying securities were exercised
• acquired $170 million of intangible assets and incurred a corre-
sponding liability in connection with the formation of the ventures
in the Motorola transaction, which is considered a noncash
investing and financing activity
• acquired an equity method investment with a fair value of $91
million and incurred a corresponding liability, which is considered
a noncash investing and financing activity
• acquired an additional equity interest with a fair value of $45
million and recorded a liability for a corresponding amount in
connection with our achievement of certain subscriber launch
milestones, which is considered a noncash investing and operat-
ing activity
During 2004, we:
• settled through noncash financing and investing activities
approximately $1.944 billion related to our Exchangeable Notes
by delivering the underlying securities to the counterparties upon
maturity of the instruments, and the equity collar agreements
related to the underlying securities were exercised
• received noncash consideration of approximately $475 million
in connection with the Liberty Media Exchange Agreement (see
Note 5), which is considered a noncash investing activity
• acquired cable systems through the assumption of $68 million
of debt, which is considered a noncash investing and financing
activity
• issued shares of G4 with a value of approximately $70 million in
connection with the acquisition of TechTV (see Note 5), which is
considered a noncash financing and investing activity
• received federal income tax refunds of approximately $591 million