Time Warner Cable 2008 Annual Report Download - page 158

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Consolidating Statement of Cash Flows
Year Ended December 31, 2008
Parent
Company
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations
TWC
Consolidated
(in millions)
OPERATING ACTIVITIES
Net loss . ........................... $(7,344) $(4,989) $ (8,221) $ 13,210 $ (7,344)
Adjustments for noncash and nonoperating
items:
Depreciation and amortization ........... — 665 2,423 — 3,088
Impairment of cable franchise rights . ..... — 2,729 12,093 — 14,822
Pretax loss on asset sales . . . ........... — 2 47 — 49
Excess of distributions over equity in pretax
income of consolidated subsidiaries ..... 11,531 6,723 1,726 (19,980) —
(Income) loss from equity investments, net
of cash distributions ................ — (3) 381 — 378
Minority interest income, net ........... — (1,227) — 205 (1,022)
Deferred income taxes ................ (4,557) (3,213) (3,149) 6,362 (4,557)
Equity-based compensation expense . ..... — 78 — — 78
Changes in operating assets and liabilities, net
of acquisitions ...................... (557) 442 (77) — (192)
Cash provided (used) by operating activities . . (927) 1,207 5,223 (203) 5,300
INVESTING ACTIVITIES
Investments and acquisitions, net of cash
acquired and distributions received . . ..... (659) (3) (579) 556 (685)
Capital expenditures from continuing
operations . . . ...................... — (926) (2,596) — (3,522)
Proceeds from asset sales ................ — 16 51 — 67
Cash used by investing activities ........... (659) (913) (3,124) 556 (4,140)
FINANCING ACTIVITIES
Borrowings (repayments), net . . ........... 1,533 — — (1,739) (206)
Borrowings .......................... 7,182 — — — 7,182
Repayments . . . ...................... (2,217) (600) — — (2,817)
Debt issuance costs .................... (97) — — — (97)
Net change in investments in and amounts due
to and from consolidated subsidiaries. ..... 395 2,055 (2,097) (353) —
Other financing activities ................ — (3) (2) — (5)
Cash provided (used) by financing activities . . 6,796 1,452 (2,099) (2,092) 4,057
INCREASE IN CASH AND
EQUIVALENTS .................... 5,210 1,746 — (1,739) 5,217
CASH AND EQUIVALENTS AT
BEGINNING OF PERIOD ............ 185 3,458 — (3,411) 232
CASH AND EQUIVALENTS AT END OF
PERIOD .......................... $ 5,395 $ 5,204 $ — $ (5,150) $ 5,449
148
TIME WARNER CABLE INC.
SUPPLEMENTARY INFORMATION
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS—(Continued)