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S-1/A
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form S-1/A on 09/28/1999
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<PAGE>   596
 
            AVALON CABLE OF MICHIGAN HOLDINGS, INC. AND SUBSIDIARIES
 
                      CONSOLIDATED STATEMENT OF CASH FLOWS
 

<TABLE>
<CAPTION>
                                                                FOR THE             FOR THE
                                                            SIX MONTHS ENDED    SIX MONTHS ENDED
                                                             JUNE 30, 1999       JUNE 30, 1998
                                                            ----------------    ----------------
                                                                        (UNAUDITED)
                                                                       (IN THOUSANDS)
<S>                                                         <C>                 <C>
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss).........................................      $ (9,773)           $    19
Depreciation and amortization.............................        22,096                 53
Accretion of Senior Discount Notes........................         6,630                 --
Decrease in minority interest.............................        (2,354)                --
Net change in certain assets and liabilities, net of
  business acquisitions...................................
Decrease in accounts receivable...........................           247                 22
(Increase)/decrease in prepayment and other assets........           342                (16)
Increase in accounts payable and accrued expenses.........         2,440                152
Decrease in deferred revenue..............................           (35)              (152)
Increase in accounts payable, net-affiliate...............         1,000                 --
Deferred income taxes, net................................       (10,282)                --
                                                                --------            -------
Net cash provided by operating activities.................        10,311                 78
                                                                --------            -------
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to property, plant and equipment................        (9,881)              (101)
Payment for acquisitions..................................       (39,420)            (8,187)
                                                                --------            -------
Net cash used in investing activities.....................       (49,301)            (8,288)
                                                                --------            -------
CASH FLOWS FROM FINANCING ACTIVITIES
Increase (decrease) in Notes payable-affiliate............        (3,341)               733
Capital Contribution......................................            --              1,062
Proceeds from the issuance of the Credit Facility.........        36,500              6,700
                                                                --------            -------
Net cash provided by financing activities.................        33,159              8,495
                                                                --------            -------
Net increase (decrease) in cash...........................        (5,831)               285
Cash at beginning of the period...........................         9,288                 --
                                                                --------            -------
Cash at end of the period.................................      $  3,457            $   285
                                                                ========            =======
</TABLE>

 
   The accompanying notes are an integral part of these financial statements.
                                      F-351