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S-1/A
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form S-1/A on 11/04/1999
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<PAGE>   725
 
                      BRESNAN COMMUNICATIONS GROUP SYSTEMS
            (A COMBINATION OF CERTAIN ASSETS, AS DEFINED IN NOTE 1)
 
                       COMBINED STATEMENTS OF CASH FLOWS
                  YEARS ENDED DECEMBER 31, 1996, 1997 AND 1998
 

<TABLE>
<CAPTION>
                                                               1996       1997       1998
                                                              -------    -------    -------
                                                                 (AMOUNTS IN THOUSANDS)
<S>                                                           <C>        <C>        <C>
Cash flows from operating activities
  Net earnings..............................................  $19,848    $37,831    $65,364
  Adjustments to reconcile net earnings to net cash provided
     by operating activities:
     Depreciation and amortization..........................   50,908     53,249     54,308
     Gain on sale of cable television systems...............       --         --    (27,027)
     Other noncash charges..................................    1,171      2,141        452
     Changes in operating assets and liabilities, net of
       effects of acquisitions:
       Change in receivables................................     (291)    (3,413)     2,826
       Change in other assets...............................     (144)       164         --
       Change in accounts payable, accrued expenses and
          other liabilities.................................    7,178      2,305      6,141
       Other, net...........................................      473        271        297
                                                              -------    -------    -------
          Net cash provided by operating activities.........   79,143     92,548    102,361
                                                              -------    -------    -------
Cash flows from investing activities:
  Capital expended for property and equipment...............  (78,248)   (33,875)   (58,601)
  Capital expended for franchise costs......................      (87)    (1,407)      (157)
  Cash received in acquisitions.............................       --      1,179     28,681
  Change in restricted cash.................................       --         --    (47,199)
                                                              -------    -------    -------
          Net cash used in investing activities.............  (78,335)   (34,103)   (77,276)
                                                              -------    -------    -------
Cash flows from financing activities:
  Borrowings under note agreement...........................   40,300     31,300     49,400
  Repayments under note agreement...........................  (18,546)   (24,364)   (30,953)
  Deferred finance costs paid...............................     (595)    (2,121)    (1,139)
  Change in Parents' investment.............................  (24,259)   (59,556)   (42,714)
                                                              -------    -------    -------
          Net cash used in financing activities.............   (3,100)   (54,741)   (25,406)
                                                              -------    -------    -------
          Net increase (decrease) in cash...................   (2,292)     3,704       (321)
Cash and cash equivalents:
  Beginning of year.........................................    5,545      3,253      6,957
                                                              -------    -------    -------
  End of year...............................................  $ 3,253    $ 6,957    $ 6,636
                                                              =======    =======    =======
Supplemental disclosure of cash flow information --
  Cash paid during the year for interest....................  $12,996    $16,971    $16,792
                                                              =======    =======    =======
</TABLE>

 
            See accompanying notes to combined financial statements.
                                      F-478