Cogeco 2003 Annual Report Download - page 29

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Cogeco Cable Inc. 2003 27
YEARS ENDED AUGUST 31,
(in thousands of dollars)
2003 2002
Cash flow from operating activities
Net income $7,879 $3,788
Unusual item net of related income taxes —3,412
Net income from recurring operations 7,879 7,200
Items not affecting cash and cash equivalents
Depreciation and amortization (note 2) 107,158 95,073
Amortization of long-term financing costs 1,340 1,814
Future income taxes (note 4) 3,724 5,364
Future income taxes related to unusual item —1,513
Other 159 209
Cash flow from operating activities before undernoted items 120,260 111,173
Unusual item —(4,925)
Changes in non-cash working capital items (note 14a)) 18,787 16,362
139,047 122,610
Cash flow from investing activities
Acquisition of fixed assets (note 14b)) (100,385) (121,323)
Increase in deferred charges (15,936) (28,029)
Other 87 41
(116,234) (149,311)
Cash flow from financing activities
Increase (decrease) in bank indebtedness (1,197) 3,091
Increase in long-term debt —413,650
Repayment of long-term debt (21,632) (393,549)
Issue of subordinate voting shares 134 132
Purchase of subordinate voting shares for cancellation (118) —
(22,813) 23,324
Net change in cash and cash equivalents —(3,377)
Cash and cash equivalents at beginning —3,377
Cash and cash equivalents at end $—$—
Consolidated Statements of Cash Flow
See supplemental cash flow information in note 14.