Virgin Media 2008 Annual Report Download - page 156

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VIRGIN MEDIA INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Note 19—Condensed Consolidated Financial Information (Continued)
Year ended December 31, 2008
Virgin
Media Other All other
Statements of cash flows Company Finance guarantors VMIH subsidiaries Adjustments Total
(in millions)
Net cash provided by (used in)
operating activities ............. £(49.4) £— £ 34.4 £ 19.7 £ 750.9 £— £ 755.6
Investing activities:
Purchase of fixed and intangible assets — — — — (479.7) — (479.7)
Principal repayments on loans to
equity investments ............. — — — — 8.6 — 8.6
Principal repayments (drawdowns) on
loans to group companies ........ (477.3) — (44.9) 354.8 167.4 — —
Purchase of investments ........... — — — — (1.5) — (1.5)
Other ........................ — — — — 2.1 — 2.1
Net cash (used in) provided by
investing activities .............. (477.3) — (44.9) 354.8 (303.1) — (470.5)
Financing activities:
New borrowings, net of financing fees . 496.7 — — (49.0) — — 447.7
Proceeds from employee stock options 0.6 — — — — — 0.6
Principal payments on long term debt
and capital leases .............. — — — (286.9) (559.4) — (846.3)
Intercompany funding movements .... 64.9 — 1.7 (38.9) (27.7) — —
Dividends paid .................. (29.3) — — — — — (29.3)
Net cash (used in) provided by
financing activities ............. 532.9 — 1.7 (374.8) (587.1) — (427.3)
Effect of exchange rates ........... 2.4 — — — — — 2.4
(Decrease) increase in cash and cash
equivalents ................... 8.6 — (8.8) (0.3) (139.3) — (139.8)
Cash and cash equivalents at
beginning of period ............ 1.3 — 10.0 0.7 309.4 — 321.4
Cash and cash equivalents at end of
period ...................... £ 9.9 £— £ 1.2 £ 0.4 £170.1 £— £ 181.6
F-62