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S-4
CHARTER COMMUNICATIONS HOLDINGS CAPITAL CORP filed this Form S-4 on 01/25/2000
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<PAGE>   547
 
                       AVALON CABLE LLC AND SUBSIDIARIES
 
                      CONSOLIDATED STATEMENT OF CASH FLOWS
                                 (IN THOUSANDS)
 

<TABLE>
<CAPTION>
                                                              FOR THE NINE    FOR THE NINE
                                                              MONTHS ENDED    MONTHS ENDED
                                                              SEPTEMBER 30,   SEPTEMBER 30,
                                                                  1998            1999
                                                              -------------   -------------
                                                               (UNAUDITED)     (UNAUDITED)
<S>                                                           <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net income (loss).........................................    $   (282)       $(30,730)
  Adjustments to reconcile net income (loss) to net cash
     provided by operating activities --
     Depreciation and amortization..........................         654          33,574
     Accretion of Senior Discount Notes.....................          --          10,102
  Net change in certain assets and liabilities, net of
     business acquisitions
     Increase in subscriber receivables.....................         100            (587)
     Increase in accounts receivable, net -- affiliate......                         124
     Increase in prepaid expenses and other assets..........         (24)           (230)
     Increase in accounts payable and accrued expenses......         774          10,582
     Increase in accounts payable, net -- affiliate.........          --             684
     Increase in deferred revenues..........................          17             101
     Increase in accrued interest...........................         564
     Increase in long term liabilities......................                         951
     Decrease in deferred income taxes, net.................          --          (1,362)
                                                                --------        --------
       Net cash provided by operating activities............       1,803          23,209
                                                                --------        --------
CASH FLOW FROM INVESTING ACTIVITIES:
  Additions to property, plant and equipment................         (72)        (15,009)
  Change in restricted cash.................................         500
  Payment for acquisitions, net.............................     (38,426)        (49,928)
                                                                --------        --------
       Net cash used in investing activities................     (37,998)        (64,937)
                                                                --------        --------
CASH FLOW FROM FINANCING ACTIVITIES:
  Increase (decrease) in note payable -- affiliate..........       2,841          (3,341)
  Capital contribution......................................       4,862          45,300
  Proceeds from the issuance of the Credit Facility.........      29,600
  Payment of deferred financing costs.......................        (470)
  Proceeds from the issuance of notes payable...............         500              --
  Payment of term loans and revolving credit facility.......          --          (6,524)
                                                                --------        --------
       Net cash provided by financing activities............      37,333          35,435
                                                                --------        --------
NET INCREASE (DECREASE) IN CASH.............................       1,138          (6,293)
CASH at beginning of the period.............................          --           9,288
                                                                --------        --------
CASH at end of the period...................................    $  1,138        $  2,995
                                                                ========        ========
</TABLE>

 
  The accompanying notes are an integral part of these consolidated financial
                                  statements.
                                      F-318