Ford 2014 Annual Report Download - page 112
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FS-6
FORD MOTOR COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CASH FLOWS
(in millions)
For the years ended December 31,
2014 2013 2012
Cash flows from operating activities of continuing operations
Net income $ 3,186 $7,175 $ 5,612
Depreciation and tooling amortization 7,385 6,504 5,486
Other amortization 38 40 (186)
Provision for credit and insurance losses 305 210 83
Pension and OPEB expense 1,249 2,543 1,557
Equity investment (earnings)/losses in excess of dividends received 189 (543) 23
Foreign currency adjustments 825 228 (116)
Net (gain)/loss on changes in investments in affiliates 798 113 (594)
Stock compensation 180 159 140
Net change in wholesale and other receivables (2,208) (3,044)(1,178)
Provision for deferred income taxes 1,063 (848) 1,754
Decrease/(Increase) in accounts receivable and other assets (2,897) (2,040)(2,508)
Decrease/(Increase) in inventory (875)(572)(1,401)
Increase/(Decrease) in accounts payable and accrued and other liabilities 5,734 1,231 599
Other (465)(712) (226)
Net cash provided by/(used in) operating activities 14,507 10,444 9,045
Cash flows from investing activities of continuing operations
Capital spending (7,463) (6,597)(5,488)
Acquisitions of finance receivables and operating leases (51,673) (45,822) (38,445)
Collections of finance receivables and operating leases 36,497 33,966 31,570
Purchases of marketable securities (48,694) (119,993) (95,135)
Sales and maturities of marketable securities 50,264 118,247 93,749
Change related to Venezuelan operations (Note 1) (477) — —
Settlements of derivatives 281 (217) (737)
Proceeds from sales of retail finance receivables (Note 22) — 495 —
Other 141 190 196
Net cash provided by/(used in) investing activities (21,124) (19,731) (14,290)
Cash flows from financing activities of continuing operations
Cash dividends (1,952) (1,574) (763)
Purchases of Common Stock (1,964) (213) (125)
Net changes in short-term debt (3,870) (2,927) 1,208
Proceeds from issuance of other debt 40,043 40,543 32,436
Principal payments on other debt (28,859) (27,953) (29,210)
Other 25 257 159
Net cash provided by/(used in) financing activities 3,423 8,133 3,705
Effect of exchange rate changes on cash and cash equivalents (517)(37) 51
Net increase/(decrease) in cash and cash equivalents $ (3,711) $ (1,191)$ (1,489)
Cash and cash equivalents at January 1 $14,468 $15,659 $ 17,148
Net increase/(decrease) in cash and cash equivalents (3,711) (1,191)(1,489)
Cash and cash equivalents at December 31 $10,757 $14,468 $ 15,659
The accompanying notes are part of the financial statements.
FS-6