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SEC Filings

S-1
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form S-1 on 07/28/1999
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<PAGE>   485
 
            AVALON CABLE OF MICHIGAN HOLDINGS, INC. AND SUBSIDIARIES
 
                      CONSOLIDATED STATEMENT OF CASH FLOWS
 

<TABLE>
<CAPTION>
                                                                 FOR THE           FOR THE
                                                              QUARTER ENDED     QUARTER ENDED
                                                              MARCH 31, 1999    MARCH 31, 1998
                                                              --------------    --------------
                                                                        (UNAUDITED)
                                                                       (IN THOUSANDS)
<S>                                                           <C>               <C>
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)...........................................     $(4,181)          $     1
Depreciation and amortization...............................      10,839                --
Accretion of Senior Discount Notes..........................       3,278                --
Increase (decrease) in minority interest....................      (1,141)               --
Net change in certain assets and liabilities, net of
  business acquisitions.....................................
Increase in accounts receivable.............................          29                --
Increase in prepayment and other assets.....................         (21)               (1)
Increase in accounts payable and accrued expenses...........       6,492                --
Increase in deferred revenue................................         131                --
Increase in accounts payable, net-affiliate.................       1,365                --
Deferred income taxes, net..................................      (6,192)               --
                                                                 -------           -------
Net cash provided by operating activities...................      10,599                --
                                                                 -------           -------
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to property, plant and equipment..................      (4,269)               --
Payment for acquisitions....................................     (35,550)               --
                                                                 -------           -------
Net cash used in investing activities.......................     (39,819)               --
                                                                 -------           -------
CASH FLOWS FROM FINANCING ACTIVITIES
Notes payable-affiliate.....................................      (3,341)               --
Proceeds from the issuance of the Credit Facility...........      36,500                --
                                                                 -------           -------
Net cash provided by financing activities...................      33,159                --
                                                                 -------           -------
Net increase in cash........................................       3,939                --
Cash at beginning of the period.............................       9,288                --
                                                                 -------           -------
Cash at end of the period...................................     $13,227           $    --
                                                                 =======           =======
</TABLE>

 
   The accompanying notes are an integral part of these financial statements.
                                      F-341