Virgin Media 2008 Annual Report Download - page 158

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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, 2006
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 ......... £(34.2) £ (8.8) £ 87.3 £ 48.7 £ 693.1 £ — £ 786.1
Investing activities:
Purchase of fixed and intangible
assets ................... — — — — (554.8) — (554.8)
Acquisitions, net of cash acquired — — (2,423.1) — — — (2,423.1)
Telewest reorganization ....... — — (4,220.6) (5,956.5) 3,535.9 6,641.2 —
Principal repayments
(drawdowns) on loans to equity
investments .............. 6.4 (286.6) 60.2 3,962.0 (3,726.3) — 15.7
Other .................... — — — — 8.2 — 8.2
Net cash (used in) provided by
investing activities .......... 6.4 (286.6) (6,583.5) (1,994.5) (737.0) 6,641.2 (2,954.0)
Financing activities:
New borrowings, net of financing
fees .................... — 871.2 1,784.4 4,593.3 1,686.7 — 8,935.6
Issuance of stock ............ — — 4,220.6 2,420.6 — (6,641.2) —
Proceeds from employee stock
option excercises ........... 38.7 — — — — — 38.7
Share redemption ............ — — 1,800.0 (2,350.8) 550.8 — —
Principal payments on long term
debt and capital leases ...... — (575.8) (1,709.9) (2,722.5) (2,092.4) — (7,100.6)
Dividends paid .............. (8.5) — — — — — (8.5)
Net cash provided by financing
activities ................. 30.2 295.4 6,095.1 1,940.6 145.1 (6,641.2) 1,865.2
Effect of exchange rates changes . — — (14.0) — — — (14.0)
(Decrease) increase in cash and
cash equivalents ........... 2.4 — (415.1) (5.2) 101.2 — (316.7)
Cash and cash equivalents at
beginning of year .......... — — 446.6 5.4 283.2 — 735.2
Cash and cash equivalents at end
of year .................. £ 2.4 £ — £ 31.5 £ 0.2 £ 384.4 £ — £ 418.5
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