MEDIA
GENERAL, INC., CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
Annual Report Index
| FINANCIALS MEDIA
GENERAL, INC., CONSOLIDATED STATEMENTS OF CASH FLOWS |
Annual Report Index |
Fiscal Years Ended |
|||||||||||||
December 27, |
December 28, |
December 29, |
|||||||||||
Cash flows from operating activities: |
|||||||||||||
Net income (loss) |
$ |
70,874 |
$ |
(10,490 |
) |
$ |
70,498 |
||||||
Adjustments to reconcile net income (loss): |
|||||||||||||
Extraordinary item |
— |
63,000 |
— |
||||||||||
Depreciation and amortization |
100,201 |
98,316 |
64,951 |
||||||||||
Deferred income taxes |
(5,945 |
) |
(4,227 |
) |
(1,733 |
) |
|||||||
Provision for doubtful accounts |
6,269 |
5,228 |
5,084 |
||||||||||
Investment income — unconsolidated affiliates |
(19,493 |
) |
(18,337 |
) |
(27,188 |
) |
|||||||
Distribution from unconsolidated newsprint affiliate |
5,000 |
— |
15,600 |
||||||||||
Net cash provided by operations |
156,906 |
133,490 |
127,212 |
||||||||||
Change in assets and liabilities: |
|||||||||||||
Accounts receivable and inventories |
(6,810 |
) |
(13,074 |
) |
(1,979 |
) |
|||||||
Other current assets |
15,986 |
14,392 |
1,780 |
||||||||||
Accounts payable, accrued expenses and other liabilities |
(14,774 |
) |
(13,495 |
) |
(1,745 |
) |
|||||||
Other, net |
(11,044 |
) |
(1,965 |
) |
1,235 |
||||||||
Net cash provided by operating activities |
140,264 |
119,348 |
126,503 |
||||||||||
Cash flows from investing activities: |
|||||||||||||
Capital expenditures |
(49,480 |
) |
(41,599 |
) |
(28,510 |
) |
|||||||
Purchase of businesses (1997 — net of $476 million of debt assumed) |
(132,680 |
) |
(276,823 |
) |
(40,024 |
) |
|||||||
Sale of businesses |
28,123 |
147,267 |
— |
||||||||||
Other, net |
2,924 |
(1,146 |
) |
6,494 |
|||||||||
Net cash used by investing activities |
(151,113 |
) |
(172,301 |
) |
(62,040 |
) |
|||||||
Cash flows from financing activities: |
|||||||||||||
Increase in debt |
463,000 |
1,022,000 |
38,000 |
||||||||||
Payment of debt |
(436,383 |
) |
(874,000 |
) |
(88,750 |
) |
|||||||
Premiums and costs related to early redemption of Park debt |
— |
(84,703 |
) |
— |
|||||||||
Cash dividends paid |
(14,974 |
) |
(14,129 |
) |
(13,238 |
) |
|||||||
Other, net |
3,339 |
2,818 |
629 |
||||||||||
Net cash provided (used) by financing activities |
14,982 |
51,986 |
(63,359 |
) |
|||||||||
Net increase (decrease) in cash and cash equivalents |
4,133 |
(967 |
) |
1,104 |
|||||||||
Cash and cash equivalents at beginning of year |
3,504 |
4,471 |
3,367 |
||||||||||
Cash and cash equivalents at end of year |
$ |
7,637 |
$ |
3,504 |
$ |
4,471 |
|||||||
