Time Warner Cable 2008 Annual Report Download - page 84

Download and view the complete annual report

Please find page 84 of the 2008 Time Warner Cable annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 172

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172

Financing Activities
Details of cash provided (used) by financing activities are as follows (in millions):
2008 2007 2006
Year Ended December 31,
Borrowings (repayments), net
(a)
................................ $ (206) $ (1,545) $ 651
Borrowings ............................................... 7,182 8,387 10,300
Repayments ............................................... (2,817) (7,679) (975)
Debt issuance costs . . ....................................... (97) (29) (17)
Issuance of TW NY Cable Preferred Membership Units .............. — — 300
Redemption of Comcast’s interest in TWC ........................ — — (1,857)
Other financing activities ..................................... (5) (84) 41
Cash provided (used) by financing activities ....................... $ 4,057 $ (950) $ 8,443
(a)
Borrowings (repayments), net, reflects borrowings under the Company’s commercial paper program with original maturities of three
months or less, net of repayments of such borrowings.
Cash used by financing activities was $950 million in 2007 compared to cash provided by financing activities
of $4.057 billion in 2008. Cash provided by financing activities in 2008 primarily included borrowings from the
2008 Bond Offerings, partially offset by repayments under the Revolving Credit Facility and commercial paper
program, repayment of matured long-term debt as previously discussed, and debt issuance costs relating to the 2008
Bond Offerings and the 2008 Bridge Facility. Cash used by financing activities for 2007 included net repayments
under the Company’s debt obligations and payments for other financing activities.
Cash used by financing activities was $950 million in 2007 compared to cash provided by financing activities
of $8.443 billion in 2006. Cash used by financing activities for 2007 included net repayments under the Company’s
debt obligations and payments for other financing activities, while cash provided by financing activities for 2006
included significant net borrowings primarily associated with the financing of the Adelphia/Comcast Transactions,
the issuance of the TW NY Cable Preferred Membership Units in connection with the Adelphia/Comcast
Transactions and other financing activities, net of cash used in the TWC Redemption on July 31, 2006.
74
TIME WARNER CABLE INC.
MANAGEMENT’S DISCUSSION AND ANALYSIS OF RESULTS
OF OPERATIONS AND FINANCIAL CONDITION—(Continued)