Harbinger Group Inc.
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SEC Filings

8-K
HRG GROUP, INC. filed this Form 8-K on 11/13/1995
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<PAGE>
 
                               ZAPATA CORPORATION
 
                    CONSOLIDATED STATEMENT OF CASH FLOWS(1)
 

<TABLE>
<CAPTION>
                                                  YEARS ENDED SEPTEMBER 30,
                                                 -----------------------------
                                                   1994      1993       1992
                                                 --------  ---------  --------
                                                       (IN THOUSANDS)
<S>                                              <C>       <C>        <C>
Cash flow provided (used) by operating
 activities:
  Continuing operations:
    Net income (loss) from continuing
     operations................................. $    578  $   9,373  $  2,431
                                                 --------  ---------  --------
    Adjustments to reconcile net income (loss)
     to net cash provided (used) by operating
     activities:
      Depreciation, amortization and valuation
       provision................................   47,348     13,036    14,923
      Gain on sale of assets, net...............  (37,457)   (27,303)      (46)
      Equity in income of unconsolidated
       affiliates...............................       --     (1,125)   (1,497)
      Cash dividends received...................       --      1,238       620
      Changes in assets and liabilities:
        Receivables.............................   (4,771)     8,330       569
        Inventories.............................      (38)   (10,883)    5,369
        Accounts payable and accrued
         liabilities............................    5,505     (6,189)   (5,659)
        Deferred income taxes...................   (3,608)     3,006       680
        Other assets and liabilities............    3,533     (5,099)   (5,852)
                                                 --------  ---------  --------
          Total adjustments.....................   10,512    (24,989)    9,107
                                                 --------  ---------  --------
        Net cash provided (used) by continuing
         operations.............................   11,090    (15,616)   11,538
                                                 --------  ---------  --------
Cash flow provided (used) by investing
 activities:
  Proceeds from disposition of investments and
   other........................................   88,533     85,244       106
  Restricted cash investments...................   74,304    (75,083)       --
  Proceeds from notes receivable................    1,061        994     2,359
  Business acquisitions, net of cash acquired...  (73,222)   (12,600)       --
  Capital expenditures..........................  (28,251)    (4,569)  (11,595)
                                                 --------  ---------  --------
        Net cash provided (used) by investing
         activities.............................   62,425     (6,014)   (9,130)
                                                 --------  ---------  --------
Cash flow provided (used) by financing
 activities:
  Borrowings....................................   16,873    101,375        --
  Proceeds from issuance of Common Stock........       --     11,250        --
  Principal payments of long-term obligations...  (88,756)  (108,333)  (10,672)
  Preferred stock redemption....................   (2,245)        --        --
  Dividend payments.............................   (1,566)    (2,933)       --
                                                 --------  ---------  --------
        Net cash provided (used) by financing
         activities.............................  (75,694)     1,359   (10,672)
                                                 --------  ---------  --------
Net decrease in cash and cash equivalents.......   (2,179)   (20,271)   (8,264)
Cash and cash equivalents at beginning of year..   15,273     35,544    43,808
                                                 --------  ---------  --------
Cash and cash equivalents at end of year........ $ 13,094  $  15,273  $ 35,544
                                                 ========  =========  ========
</TABLE>

- --------
(1) The Consolidated Statement of Cash Flows has been reclassified to present
    the marine protein operations as continuing operations. See Note 14.
 
    The accompanying notes are an integral part of the financial statements.
 
                                       16

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