Cogeco 2012 Annual Report Download - page 47

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CONSOLIDATED STATEMENTS OF CASH FLOWS
46 COGECO CABLE INC. 2012 Consolidated financial statements
Years ended August 31, 2012 2011
(In thousands of Canadian dollars) $ $
Cash flow from operating activities
Profit for the year from continuing operations 169,517 199,165
A
djustments for:
Depreciation and amortization (note 7) 275,003 201,958
Income taxes (note 9) 78,656 70,752
Financial expense (note 8) 64,007 71,162
Share-based compensation (note 16) 2,373 2,380
Loss on disposals and write-offs of property, plant and equipment 1,352 2,003
Defined benefit pension plans contributions, net of expense (2,816) 691
588,092 548,111
Changes in non-cash operating activities (note 18 a)) 3,493 10,409
Income taxes received (paid) (79,728) 3,067
Financial expense paid (61,471) (69,502)
450,386 492,085
Cash flow from investing activities
A
cquisition of property, plant and equipment (359,581) (291,669)
A
cquisition of intangible and other assets (15,787) (10,872)
Business acquisitions and related adjustments, net of cash and cash equivalents acquired (note 5) (542) (131,157)
Other 1,199 341
(374,711) (433,357)
Cash flow from financing activities
Net repayments under the Term Revolving Facility (110,000) (16,169)
Issuance of long-term debt, net of discounts and transaction costs 197,839 198,295
Repayments of long-term debt (2,102) (177,790)
Increase in deferred transaction costs (1,348)
Issuance of subordinate voting shares (note 16) 1,295 4,740
A
cquisition of subordinate voting shares held in trust under the Incentive Share Unit Plan (note 16) (3,049) (2,368)
Disposal of subordinate voting shares held in trust under the Incentive Share Unit Plan 693
Dividends paid on multiple voting shares (15,691) (11,139)
Dividends paid on subordinate voting shares (32,965) (23,355)
34,672 (27,786)
Net change in cash and cash equivalents from continuing operations 110,347 30,942
Net change in cash and cash equivalents from discontinued operations (note 21) 49,597 (11,337)
Cash and cash equivalents, beginning of the year 55,447 35,842
Cash and cash equivalents, end of the year 215,391 55,447