Cogeco 2007 Annual Report Download - page 47

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Consolidated Financial Statements COGECO CABLE INC. 2007 45
CONSOLIDATED STATEMENTS OF CASH FLOW
YEARS ENDED AUGUST 31, 2007 2006
(in thousands of dollars) $ $
CASH FLOW FROM OPERATING ACTIVITIES
NET INCOME 84,691 65,556
ADJUSTMENTS FOR:
AMORTIZATION (NOTE 4) 189,323 120,782
AMORTIZATION OF DEFERRED FINANCING COSTS 2,226 1,140
FUTURE INCOME TAXES (NOTE 5) 7,511 5,200
STOCK-BASED COMPENSATION 1,145 636
LOSS ON DISPOSAL OF FIXED ASSETS 220 1,129
OTHER (551) 296
284,565 194,739
CHANGES IN NON-CASH OPERATING ITEMS (NOTE 15 A)) (72,755) 1,051
211,810 195,790
CASH FLOW FROM INVESTING ACTIVITIES
ACQUISITION OF FIXED ASSETS (NOTE 15 B)) (220,882) (140,941)
INCREASE IN DEFERRED CHARGES (30,042) (20,607)
BUSINESS ACQUISITION, NET OF CASH AND CASH EQUIVALENTS ACQUIRED (NOTE 2) 1,265 (577,431)
DECREASE (INCREASE) IN RESTRICTED CASH 591 (91)
OTHER 489 48
(248,579) (739,022)
CASH FLOW FROM FINANCING ACTIVITIES
INCREASE IN LONG-TERM DEBT — 633,402
REPAYMENT OF LONG-TERM DEBT (299,558) (1,720)
INCREASE IN DEFERRED FINANCING COSTS — (10,110)
ISSUE OF SUBORDINATE VOTING SHARES 352,964 228
SUBORDINATE VOTING SHARES ISSUE COSTS (14,840) —
DIVIDENDS ON MULTIPLE VOTING SHARES (3,766) (2,512)
DIVIDENDS ON SUBORDINATE VOTING SHARES (6,582) (3,888)
28,218 615,400
NET CHANGE IN CASH AND CASH EQUIVALENTS (8,551) 72,168
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
DENOMINATED IN FOREIGN CURRENCIES 1,243 (713)
CASH AND CASH EQUIVALENTS AT BEGINNING 71,516 61
CASH AND CASH EQUIVALENTS AT END 64,208 71,516
SEE SUPPLEMENTAL CASH FLOW INFORMATION IN NOTE 15.