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S-4
CHARTER COMMUNICATIONS HOLDINGS CAPITAL CORP filed this Form S-4 on 04/30/1999
Entire Document
 
<PAGE>   348
 
                     RIFKIN ACQUISITION PARTNERS, L.L.L.P.
 
                      CONSOLIDATED STATEMENT OF CASH FLOWS
 

<TABLE>
<CAPTION>
                                                                      YEARS ENDED
                                                       ------------------------------------------
                                                         12/31/98       12/31/97       12/31/96
                                                       ------------   ------------   ------------
<S>                                                    <C>            <C>            <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net income (loss)..................................  $ 24,419,211   $(26,043,648)  $(21,631,342)
  Adjustments to reconcile net loss to net cash
     provided by operating activities:
     Depreciation and amortization...................    37,213,576     38,630,800     35,297,703
     Amortization of deferred loan costs.............       989,760        989,760        970,753
     Gain on sale of assets (Note 4).................   (42,863,060)            --             --
     Loss on disposal of fixed assets................     3,436,739      7,834,968      1,357,180
     Deferred tax benefit............................    (4,196,000)    (5,335,000)    (3,654,000)
     Increase in customer accounts receivables.......      (300,823)      (186,976)      (117,278)
     Increase in other receivables...................      (474,599)    (1,992,714)      (994,681)
     (Increase) decrease in prepaid expenses and
       other.........................................      (684,643)        23,015       (494,252)
     Increase in accounts payable and accrued
       liabilities...................................        34,073      1,753,656      3,245,736
     Increase (decrease) in customer deposits and
       prepayments...................................       (86,648)       231,170        164,824
     Increase (decrease) in interest payable.........      (141,555)       600,248      6,692,988
                                                       ------------   ------------   ------------
          Net cash provided by operating
             activities..............................    17,346,031     16,505,279     20,837,631
                                                       ------------   ------------   ------------
CASH FLOWS FROM INVESTING ACTIVITIES:
  Acquisition of cable systems, net (Note 3).........    (2,212,958)   (19,359,755)   (71,797,038)
  Additions to property, plant and equipment.........   (26,354,756)   (28,009,253)   (16,896,582)
  Additions to cable television franchises, net of
     retirements.....................................      (151,695)        72,162     (1,182,311)
  Net proceeds from the sale of cable systems (Note
     4)..............................................    16,533,564             --             --
  Net proceeds from the other sales of assets........       247,216        306,890        197,523
                                                       ------------   ------------   ------------
          Net cash used in investing activities......   (11,938,629)   (46,989,956)   (89,678,408)
                                                       ------------   ------------   ------------
CASH FLOWS FROM FINANCING ACTIVITIES:
  Proceeds from isssuance of senior subordinated
     notes...........................................            --             --    125,000,000
  Proceeds from long-term bank debt..................    22,500,000     38,000,000     18,000,000
  Deferred loan costs................................            --             --     (6,090,011)
  Payments of long-term bank debt....................   (27,425,000)    (7,000,000)   (82,000,000)
  Partners' capital contributions....................            --             --     15,000,000
  Equity distributions to partners...................       (60,065)            --             --
                                                       ------------   ------------   ------------
          Net cash provided by (used in) financing
             activities..............................    (4,985,065)    31,000,000     69,909,989
                                                       ------------   ------------   ------------
Net increase in cash.................................       422,337        515,323      1,069,212
Cash and cash equivalents at beginning of period.....     1,902,555      1,387,232        318,020
                                                       ------------   ------------   ------------
Cash and cash equivalents at end of period...........  $  2,324,892   $  1,902,555   $  1,387,232
                                                       ============   ============   ============
SUPPLEMENTAL CASH FLOW INFORMATION:
  Interest paid......................................  $ 22,737,443   $ 22,098,732   $ 13,866,995
                                                       ============   ============   ============
  Noncash investing activities:
     Proceeds from the sale of Michigan assets held
       in escrow.....................................  $    500,000   $         --   $         --
                                                       ============   ============   ============
     Trade value related to the trade sale of
       Tennessee assets..............................  $ 46,668,000   $         --   $         --
                                                       ============   ============   ============
     Trade value related to trade acquisition of
       Tennessee assets..............................  $(46,668,000)  $         --   $         --
                                                       ============   ============   ============
</TABLE>

 
The accompanying notes are an integral part of the consolidated financial
statements.
 
                                      F-193