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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>   634
 
                          FALCON COMMUNICATIONS, L.P.
                   (SUCCESSOR TO FALCON HOLDING GROUP, L.P.)
 
                     CONSOLIDATED STATEMENTS OF CASH FLOWS
 

<TABLE>
<CAPTION>
                                                             YEAR ENDED DECEMBER 31,
                                                       ------------------------------------
                                                         1996         1997         1998
                                                       ---------    --------    -----------
                                                              (DOLLARS IN THOUSANDS)
<S>                                                    <C>          <C>         <C>
Cash flows from operating activities:
Net loss.............................................  $ (49,985)   $(60,838)   $  (144,483)
  Adjustments to reconcile net loss to net cash
     provided by operating activities:
     Payment-in-kind interest expense................     26,580      20,444             --
     Amortization of debt discount...................         --          --         19,342
     Depreciation and amortization...................    100,415     118,856        152,585
     Amortization of deferred loan costs.............      2,473       2,192          2,526
     Write-off deferred loan costs...................         --          --         10,961
     Gain on sale of securities......................     (2,264)         --             --
     Gain on casualty losses.........................         --      (3,476)          (314)
     Equity in net (income) loss of investee
       partnerships..................................         44        (443)           176
     Provision for losses on receivables, net of
       recoveries....................................      2,417       5,714          4,775
     Deferred income taxes...........................     (2,684)     (2,748)         1,111
     Other...........................................        764       1,319            278
  Increase (decrease) from changes in:
     Receivables.....................................     (2,420)     (9,703)        (1,524)
     Other assets....................................       (274)     (4,021)           906
     Accounts payable................................      4,750      (1,357)           337
     Accrued expenses................................     10,246      13,773         24,302
     Customer deposits and prepayments...............        569        (175)           633
                                                       ---------    --------    -----------
     Net cash provided by operating activities.......     90,631      79,537         71,611
                                                       ---------    --------    -----------
Cash flows from investing activities:
  Capital expenditures...............................    (57,668)    (76,323)       (96,367)
  Proceeds from sale of available-for-sale
     securities......................................      9,502          --             --
  Increase in intangible assets......................     (4,847)     (1,770)        (7,124)
  Acquisitions of cable television systems...........   (247,397)         --        (83,391)
  Cash acquired in connection with the acquisition of
     TCI and Falcon Video Communications, L.P. ......         --          --            317
  Proceeds from sale of cable system.................     15,000          --             --
  Assets retained by the Managing General Partner....         --          --         (3,656)
  Other..............................................      1,163       1,806          1,893
                                                       ---------    --------    -----------
     Net cash used in investing activities...........   (284,247)    (76,287)      (188,328)
                                                       ---------    --------    -----------
Cash flows from financing activities:
  Borrowings from notes payable......................    700,533      37,500      2,388,607
  Repayment of debt..................................   (509,511)    (40,722)    (2,244,752)
  Deferred loan costs................................     (3,823)        (29)       (25,684)
  Capital contributions..............................      5,000          93             --
  Redemption of partners' interests..................         --          --         (1,170)
  Minority interest capital contributions............         --         192             83
                                                       ---------    --------    -----------
     Net cash provided by (used in) financing
       activities....................................    192,199      (2,966)       117,084
                                                       ---------    --------    -----------
Increase (decrease) in cash and cash equivalents.....     (1,417)        284            367
Cash and cash equivalents, at beginning of year......     15,050      13,633         13,917
                                                       ---------    --------    -----------
Cash and cash equivalents, at end of year............  $  13,633    $ 13,917    $    14,284
                                                       =========    ========    ===========
</TABLE>

 
          See accompanying notes to consolidated financial statements.
                                      F-405