Cogeco 2011 Annual Report Download - page 55

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54 COGECO CABLE INC. 2011 Consolidated financial statements
Consolidated statements of cash flows
Years ended August 31, 2011 2010
(In thousands of dollars) $ $
Cash flow from operating activities
Net income (loss) (47,666) 157,303
A
djustments for:
Amortization (note 4) 247,178 258,871
Amortization of deferred transaction costs and discounts on long-term debt 2,913 3,786
Impairment of goodwill and fixed assets (note 6) 225,873 –
Future income taxes 6,171 69,877
Stock-based compensation (note 13) 2,452 1,653
Loss on disposals and write-offs of fixed assets 2,459 2,932
Other 969 392
440,349 494,814
Changes in non-cash operating items (note 15 A)) 74,973 (77,530)
515,322 417,284
Cash flow from investing activities
A
cquisition of fixed assets (note 15 B)) (325,720) (308,908)
Increase in deferred charges (10,872) (10,633)
Business acquisitions, net of cash and cash equivalents acquired (note 2) (132,268) –
Other 341 168
(468,519) (319,373)
Cash flow from financing activities
Net repayments under the Term Facility and Term Revolving Facility (16,169) (62,366)
Issuance of long-term debt, net of discounts and transaction costs 198,295 –
Repayments of long-term debt (177,790) (3,881)
Increase in deferred transaction costs – (5,238)
Issuance of subordinate voting shares (note 13) 4,740 481
A
cquisition of subordinate voting shares held in trust under the Incentive Share Unit Plan (note 13) (2,368) (2,008)
Dividends on multiple voting shares (11,139) (8,787)
Dividends on subordinate voting shares (23,355) (18,384)
(27,786) (100,183)
Effect of exchange rate changes on cash and cash equivalents denominated in a foreign currency 588 (1,344)
Net change in cash and cash equivalents 19,605 (3,616)
Cash and cash equivalents, beginning of year 35,842 39,458
Cash and cash equivalents, end of year 55,447 35,842
See supplemental cash flow information in note 15.