<PAGE> 343
PICAYUNE MS, LAFOURCHE LA, ST. TAMMANY LA, ST. LANDRY LA,
POINTE COUPEE LA, AND JACKSON TN CABLE TELEVISION SYSTEMS
COMBINED STATEMENTS OF CASH FLOWS
(IN THOUSANDS)
<TABLE>
<CAPTION>
YEAR ENDED DECEMBER 31,
-------------------------------------------
1995 1996 1997
---- ---- ----
(PREDECESSOR) (INCLUDED IN TWI CABLE INC.)
<S> <C> <C> <C>
OPERATING ACTIVITIES:
Net (loss) income............................... $(5,352) $ 2,350 $ 3,484
Adjustments for noncash and nonoperating
items:
Income tax (benefit) expense............... (3,567) 1,502 2,262
Depreciation and amortization.............. 17,610 18,360 18,697
(Gain) loss on disposal
of fixed assets.......................... -- (244) 620
Changes in operating assets and
liabilities:
Receivables, prepaids and other
assets................................ (196) 944 (464)
Accounts payable, accrued expenses and
other liabilities..................... (972) 176 (466)
Other balance sheet changes.............. -- -- (529)
------- --------- --------
Net cash provided by operations................. 7,523 23,088 23,604
INVESTING ACTIVITIES:
Purchase of Predecessor cable systems, net of
cash acquired................................. -- (249,473) --
Capital expenditures............................ (7,376) (8,170) (6,390)
------- --------- --------
Net cash used in investing activities........... (7,376) (257,643) (6,390)
FINANCING ACTIVITIES:
Advance from Parent for purchase of
Predecessor................................... -- 250,039 --
Net repayment of advances from Parent........... -- (14,914) (16,413)
------- --------- --------
Net cash provided by (used in) financing
activities.................................... -- 235,125 (16,413)
INCREASE IN CASH AND CASH EQUIVALENTS........... 147 570 801
CASH AND CASH EQUIVALENTS AT BEGINNING OF
PERIOD........................................ 419 0 570
------- --------- --------
CASH AND CASH EQUIVALENTS AT END OF PERIOD...... $ 566 $ 570 $ 1,371
======= ========= ========
</TABLE>
See accompanying notes to combined financial statements.
F-139
