| CORUS ENTERTAINMENT INC. | ||||||||||||
| CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||||||
|
Three months ended
August 31, |
Year ended
August 31, |
|||||||||||
| (unaudited - in thousands of Canadian dollars) | 2013 | 2012 | 2013 | 2012 | ||||||||
| OPERATING ACTIVITIES | ||||||||||||
| Net income for the period | 13,341 | 24,985 | 165,749 | 156,151 | ||||||||
| Add (deduct) non-cash items: | ||||||||||||
| Depreciation and amortization | 6,031 | 6,408 | 26,903 | 25,639 | ||||||||
| Broadcast license and goodwill impairment | 5,734 | — | 5,734 | — | ||||||||
| Amortization of program and film rights | 48,099 | 46,543 | 190,176 | 186,348 | ||||||||
| Amortization of film investments | 8,360 | 10,052 | 25,759 | 32,001 | ||||||||
| Deferred income taxes | (1,356) | 8,186 | (11,332) | 12,921 | ||||||||
| Investment impairments | 7,121 | — | 7,121 | — | ||||||||
| Share-based compensation expense | 424 | 268 | 1,586 | 1,158 | ||||||||
| Imputed interest | 4,137 | 2,444 | 11,816 | 11,348 | ||||||||
| Debt refinancing | — | — | 25,033 | — | ||||||||
| Gain on sale of associated company | — | — | (55,394) | — | ||||||||
| Gain on acquisition | — | — | — | (2,383) | ||||||||
| Other | 818 | 738 | 700 | (2,052) | ||||||||
| Net change in non-cash working capital balances related to operations | 12,609 | (3,939) | 4,584 | (13,199) | ||||||||
| Payment of program and film rights | (79,000) | (65,422) | (185,327) | (196,689) | ||||||||
| Net additions to film investments | 2,869 | (569) | (46,074) | (40,933) | ||||||||
| Cash provided by operating activities | 29,187 | 29,694 | 167,034 | 170,310 | ||||||||
| INVESTING ACTIVITIES | ||||||||||||
| Additions to property, plant and equipment | (2,715) | (5,658) | (13,043) | (19,243) | ||||||||
| Business combinations | — | — | — | (4,104) | ||||||||
| Net cash flows for intangibles, investments and other assets | (1,568) | (7,431) | (10,855) | (11,290) | ||||||||
| Other | (238) | (75) | (652) | (635) | ||||||||
| Cash used in investing activities | (4,521) | (13,164) | (24,550) | (35,272) | ||||||||
| FINANCING ACTIVITIES | ||||||||||||
| Decrease in bank loans | — | (9,973) | (29,925) | (84,750) | ||||||||
| Issuance of notes | — | — | 550,000 | — | ||||||||
| Redemption of notes | — | — | (500,000) | — | ||||||||
| Financing fees | — | — | (26,732) | — | ||||||||
| Issuance of shares under stock option plan | — | — | 884 | 10,046 | ||||||||
| Shares repurchased | — | (21,407) | (1,464) | (25,295) | ||||||||
| Dividends paid | (15,112) | (13,258) | (56,696) | (50,783) | ||||||||
| Dividends paid to non-controlling interest | (616) | (1,630) | (6,331) | (6,053) | ||||||||
| Other | (1,138) | (2,310) | (10,727) | (9,537) | ||||||||
| Cash used in financing activities | (16,866) | (48,578) | (80,991) | (166,372) | ||||||||
| Net change in cash and cash equivalents during the period | 7,800 | (32,048) | 61,493 | (31,334) | ||||||||
| Cash and cash equivalents, beginning of the period | 78,281 | 56,636 | 24,588 | 55,922 | ||||||||
| Cash and cash equivalents, end of the period | 86,081 | 24,588 | 86,081 | 24,588 | ||||||||
