Charter 1999 Annual Report Download - page 23

1999 SUMMARY ANNUAL REPORT 21
Charter Communications, Inc.
Condensed Consolidated Statement of Cash Flows
(dollars in millions)
YEAR ENDED DECEMBER 31, 1999
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss $ (66.2)
Adjustments to reconcile net loss to net cash provided by operating activities 353.4
Changes in assets and liabilities, net of effects from acquisitions 186.2
Other operating activities 6.5
Net cash provided by operating activities 479.9
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment (741.5)
Payments for acquisitions, net of cash acquired (7,629.6)
Other investing activities (1,706.9)
Net cash used in investing activities (10,078.0)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings of long-term debt 10,114.2
Repayments of long-term debt (5,694.4)
Payments for debt issuance costs (113.5)
Net proceeds from initial public offering of Class A stock 3,547.9
Capital contributed to subsidiary 1,894.3
Distributions to Charter Investment (10.9)
Other financing activities (15.4)
Net cash provided by financing activities 9,722.2
NET INCREASE IN CASH AND CASH EQUIVALENTS 124.1
CASH AND CASH EQUIVALENTS, beginning of period 9.6
CASH AND CASH EQUIVALENTS, end of period $ 133.7
Note: These condensed consolidated financial statements should be read in conjunction with the complete consolidated audited financial statements
appended to the Charter Communications, Inc. proxy statement for the 2000 annual meeting of stockholders.
Organizational Structure
Charter Communications, Inc. is a publicly traded corporation whose sole asset is an approximate 40 percent economic
interest and 100 percent voting interest in Charter Communications Holding Company, LLC (Charter Holdco). The
remaining 60 percent economic interest in Charter Holdco is held primarily by Paul G. Allen, through Vulcan Cable III Inc.
and Charter Investment, Inc., neither of which are publicly traded. The Class A common stock of Charter Communications,
Inc. is traded on the Nasdaq. The Class B common stock of Charter Communications, Inc. is owned by Paul G. Allen,
representing less than one percent of total common stock issued and outstanding. The Class B common stock is not publicly
traded.
Charter Holdco is the indirect owner of the cable systems referred to in this document. Minority interest represents the
portion of the economic interest in Charter Holdco not owned by Charter Communications, Inc. Charter Holdco and its
subsidiaries and Charter Communications, Inc. are collectively referred to as “Charter” or “the Company.”