Rogers 2006 Annual Report Download - page 83

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79
RO GER S CO MMU NIC AT ION S IN C . 20 0 6 ANN UA L RE POR T
Years ended December 31, 2006 and 2005 2006 2005
Cash provided by (used in):
Operating activities:
Net income (loss) for the year $ 622 $ (45)
Adjustments to reconcile net income (loss) to net cash flows from operating activities:
Depreciation and amortization 1,584 1,489
Program rights and Rogers Retail rental inventory depreciation 75 90
Future income taxes 61 (9)
Unrealized foreign exchange gain 2 (35)
Change in fair value of derivative instruments 4 25
Loss on repayment of long-term debt 1 11
Stock-based compensation expense 49 42
Accreted interest on Convertible Preferred Securities – 18
Amortization on fair value increment of long-term debt and derivatives (11) (15)
Sale of income tax losses to related party 13 –
Other (14) (20)
2,386 1,551
Change in non-cash working capital items (note 21(a)) 75 (298)
2,461 1,253
Investing activities:
Additions to property, plant and equipment (1,712) (1,355)
Change in non-cash working capital items related to property, plant and equipment 134 (38)
Cash and cash equivalents acquired on acquisition 2 44
Acquisition of Microcell Telecommunications Inc. – (52)
Other acquisitions (6) (38)
Additions to program rights (32) (25)
Other (31) 3
(1,645) (1,461)
Financing activities:
Issue of long-term debt 1,098 1,369
Repayment of long-term debt (1,836) (1,509)
Financing costs incurred – (5)
Issue of capital stock 74 100
Dividends paid on Class A Voting and Class B Non-Voting shares (47) (26)
Proceeds on termination of cross-currency interest rate exchange agreements – 402
Payment on termination of cross-currency interest rate exchange agreements (20) (471)
(731) (140)
Increase (decrease) in cash and cash equivalents 85 (348)
Cash and cash equivalents (deficiency), beginning of year (104) 244
Cash deficiency, end of year $ (19) $ (104)
Cash and cash equivalents (deficiency) are defined as cash and short-term deposits, which have an original maturity of less than 90 days, less bank advances.
For supplemental cash flow information and disclosure of non-cash transactions see note 21(b) and (c).
See accompanying notes to consolidated financial statements.
CONSOLIDATED STATEMENTS
OF CASH FLOWS
(IN MILLIO NS OF C ANADIA N DOL L ARS)