| Cash Flow for Magna Entertainment Corp. (MECA) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | (107,869) | (85,183) | (103,110) | (95,636) | (105,097) | | Depreciation & Amortization | 42,297 | 43,902 | 39,222 | 37,510 | 31,897 | | Deferred Income Taxes | (5,680) | (11,980) | (5,996) | (4,907) | (63,806) | | Operating Losses | (4,673) | (129,795) | (3,575) | 16,644 | 136,396 | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | (2,659) | 9,585 | (7,144) | (9,526) | 14,945 | | Decrease in Inventories | (302) | 364 | - | - | - | | Decrease in Other Current Assets | 7,745 | (1,955) | (1,817) | (114) | (4,705) | | Increase in Payables | (3,789) | 5,207 | 16,766 | 3,656 | 1,038 | | Increase in Other Current Liabilities | 6,923 | (6,128) | (7,806) | 14,306 | (551) | | Decrease in Other Working Capital | - | - | 6,036 | - | - | | Other Non-Cash Items | 5,869 | 109,420 | - | - | - | | Net Cash from Continuing Operations | (61,822) | (61,642) | (64,904) | (36,519) | 13,804 | | Net Cash from Discontinued Operations | (3,062) | 1,372 | 29,162 | - | - | | Cash from Operating Activities | (64,884) | (60,270) | (35,742) | (36,519) | 13,804 | | | | Sale of Property, Plant, Equipment | 95,712 | 12,006 | 5,803 | 19,841 | 13,248 | | Sale of Short Term Investments | - | - | - | - | - | | | Purchase of Property, Plant, Equipment | (79,072) | (89,448) | (149,549) | (139,940) | (105,958) | | Acquisitions | - | (9,347) | - | - | - | | Purchase of Short Term Investments | - | - | - | - | - | | Other Investment Changes, Net | - | 174,316 | (1,779) | (582) | (16,549) | | Cash from Investing Activities | 12,223 | 151,516 | (145,525) | (120,681) | (109,259) | | | Issuance of Debt | 140,012 | 102,095 | 186,993 | 172,116 | 161,110 | | Issuance of Capital Stock | 19,581 | - | - | 852 | 29 | | | Repayment of Debt | (117,736) | (153,401) | (15,553) | (55,651) | (60,292) | | Repurchase of Capital Stock | - | - | - | - | - | | Payment of Cash Dividends | - | - | - | - | - | | Other Financing Charges, Net | - | - | - | - | - | | Cash from Financing Activities | 37,593 | (83,733) | 171,440 | 117,317 | 100,847 | | | | Effect of Exchange Rate Changes | 170 | (104) | 704 | 717 | 6,734 | | Net Change in Cash | (14,898) | 7,409 | (9,123) | (39,166) | 12,126 | | | Cash at Beginning of Year | 58,291 | 50,882 | 60,005 | 99,807 | 87,681 | | Cash at End of Period | 43,393 | 58,291 | 50,882 | 60,641 | 99,807 | | | |
