Harbinger Group Inc.
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SEC Filings

DEF 14A
HRG GROUP, INC. filed this Form DEF 14A on 11/15/1995
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<PAGE>
 
                               ZAPATA CORPORATION
 
                      CONSOLIDATED STATEMENT OF CASH FLOWS
 

<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................................. $   (695) $   9,809  $  2,815
                                                 --------  ---------  --------
    Adjustments to reconcile net income (loss)
     to net cash provided (used) by operating
     activities:
      Depreciation, amortization and valuation
       provision................................   42,813      8,526    10,675
      Gain on sale of assets, net...............  (37,457)   (27,198)      (55)
      Equity in income of unconsolidated
       affiliates...............................              (1,125)   (1,497)
      Cash dividends received...................               1,238       620
      Changes in assets and liabilities:
        Receivables.............................    1,113      5,926     1,588
        Inventories.............................      976      2,997
        Accounts payable and accrued
         liabilities............................   (3,617)    (4,867)   (6,769)
        Deferred income taxes...................   (4,137)     1,738       295
        Other assets and liabilities............    4,263     (5,253)   (2,799)
                                                 --------  ---------  --------
          Total adjustments.....................    3,954    (18,018)    2,058
                                                 --------  ---------  --------
        Cash flow provided (used) by continuing
         operations.............................    3,259     (8,209)    4,873
                                                 --------  ---------  --------
  Discontinued operations:
    Income (loss) from discontinued operations..    1,273       (436)     (384)
    Loss on disposition.........................   (8,897)
    Decrease (increase) in net assets of
     discontinued operations....................   13,698     (8,019)      736
                                                 --------  ---------  --------
      Cash flow provided (used) by discontinued
       operations...............................    6,074     (8,455)      352
                                                 --------  ---------  --------
        Net cash provided (used) by operating
         activities.............................    9,333    (16,664)    5,225
                                                 --------  ---------  --------
Cash flow provided (used) by investing
 activities:
  Proceeds from disposition of investments and
   other........................................   88,533     84,466        79
  Restricted cash investments...................   74,304    (75,083)
  Proceeds from notes receivable................    1,061        994     2,359
  Business acquisitions, net of cash acquired...  (73,222)   (12,139)
  Capital expenditures..........................  (24,580)    (3,092)   (6,981)
                                                 --------  ---------  --------
        Net cash provided (used) by investing
         activities.............................   66,096     (4,854)   (4,543)
                                                 --------  ---------  --------
Cash flow provided (used) by financing
 activities:
  Borrowings....................................   15,000    101,375
  Proceeds from issuance of Common Stock........              11,250
  Principal payments of long-term obligations...  (88,240)  (108,216)  (10,484)
  Preferred stock redemption....................   (2,245)
  Dividend payments.............................   (1,566)    (2,933)
                                                 --------  ---------  --------
        Net cash provided (used) by financing
         activities.............................  (77,051)     1,476   (10,484)
                                                 --------  ---------  --------
Net decrease in cash and cash equivalents.......   (1,622)   (20,042)   (9,802)
Cash and cash equivalents at beginning of year..   16,008     36,050    45,852
                                                 --------  ---------  --------
Cash and cash equivalents at end of year........ $ 14,386  $  16,008  $ 36,050
                                                 ========  =========  ========
</TABLE>

 
    The accompanying notes are an integral part of the financial statements.
 
                                       35

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