Cogeco 2014 Annual Report Download - page 62

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Consolidated financial statements COGECO CABLE INC. 2014 61
CONSOLIDATED STATEMENTS OF CASH FLOWS
Years ended August 31, Notes 2014 2013
(In thousands of Canadian dollars) $$
(restated, Note 3)
Cash flow from operating activities
Profit for the year 209,441 184,895
Adjustments for:
Depreciation and amortization 8460,282 382,714
Impairment of property, plant and equipment 13 35,493 —
Financial expense 9130,221 128,770
Income taxes 10 53,184 62,774
Share-based payment 17 D) 6,532 3,784
Loss (gain) on disposals and write-offs of property, plant and equipment 2,129 (586)
Defined benefit plans contributions, net of expense (1,729)(2,557)
895,553 759,794
Changes in non-cash operating activities 19 48,603 (23,331)
Financial expense paid (122,620) (91,343)
Income taxes paid (63,168)(100,110)
758,368 545,010
Cash flow from investing activities
Acquisition of property, plant and equipment 13 (400,846) (388,698)
Acquisition of intangible and other assets (14,626)(18,567)
Business combinations, net of cash and cash equivalents acquired 6—(2,005,667)
Other 1,758 3,144
(413,714) (2,409,788)
Cash flow from financing activities
Increase (decrease) in bank indebtedness (13,166)13,166
Net increases (repayments) under the revolving facilities (368,461) 550,748
Issuance of long-term debt, net of discounts and transaction costs 189,544 1,953,016
Repayments of long-term debt (68,891)(761,951)
Increase in deferred transaction costs (1,563)(5,410)
Repayment of balance due on a business combination —(11,400)
Issuance of subordinate voting shares 17 B) 6,072 2,362
Acquisition of subordinate voting shares held in trust under the Incentive Share Unit Plan 17 B) (6,934)(4,076)
Dividends paid on multiple voting shares 17 C) (18,829)(16,319)
Dividends paid on subordinate voting shares 17 C) (39,672)(34,272)
(321,900) 1,685,864
Effect of exchange rate changes on cash and cash equivalents denominated in foreign currencies 1,502 3,098
Net change in cash and cash equivalents 24,256 (175,816)
Cash and cash equivalents, beginning of the year 39,575 215,391
Cash and cash equivalents, end of the year 63,831 39,575