iHeartMedia 2007 Annual Report Download - page 67

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See Notes to Consolidated Financial Statements
66
Year Ended December 31,
2007 2006 2005
CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES:
Decrease (increase) in notes receivable, ne
t
(6,069) 1,163 755
Decrease (increase) in investments in, and advances to nonconsolidated affiliates
—
ne
t
20,868 20,445 15,343
Cross currency settlement of interes
t
(1,214) 1,607 734
Purchase of other investments (726) (520)(900)
Proceeds from sale of other investments 2,409
—
370
Purchases of property, plant and equipment (362,042) (332,449) (298,043)
Proceeds from disposal of assets 26,177 99,682 102,001
Acquisition of operating assets (122,110) (341,206)(150,819)
Decrease (increase) in other — ne
t
(38,703) (51,443) (14,625)
Net cash used in investing activities (481,410) (602,721)(345,184)
CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES:
Draws on credit facilities 886,910 3,383,667 1,934,000
Payments on credit facilities (1,705,014) (2,700,004) (1,986,045)
Proceeds from long-term debt 22,483 783,997
—
Payments on long-term debt (343,041) (866,352) (236,703)
Payment to terminate forward exchange contract — (83,132)
—
Proceeds from exercise of stock options, stock purchase plan and common stock warrants 80,017 57,452 40,239
Dividends paid (372,369) (382,776)(343,321)
Proceeds from initial public offering —
—
600,642
Payments for purchase of common shares — (1,371,462)(1,070,204)
Net cash used in financing activities (1,431,014) (1,178,610) (1,061,392)
CASH FLOWS PROVIDED BY (USED IN) DISCONTINUED OPERATIONS:
Net cash provided by operating activities 60,983 127,762 142,832
Net cash provided by (used in) investing activities 331,313 (34,328) (202,761)
Net cash provided by financing activities —
—
240,000
Net cash provided by discontinued operations 392,296 93,434 180,071
Net increase in cash and cash equivalents 29,148 31,663 49,810
Cash and cash equivalents at beginning of year 116,000 84,337 34,527
Cash and cash equivalents at end of year $ 145,148 $ 116,000 $ 84,337
SUPPLEMENTAL DISCLOSURE:
Cash paid during the year for:
Interest $ 462,181 $ 461,398 $ 430,382
Income taxes 299,415
—
193,723