General Motors 2012 Annual Report Download - page 47

Download and view the complete annual report

Please find page 47 of the 2012 General Motors annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 182

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182

GENERAL MOTORS COMPANY AND SUBSIDIARIES
Consolidating Statements of Cash Flows
(In millions)
Year Ended December 31, 2012 Year Ended December 31, 2011 Year Ended December 31, 2010
Automotive
GM
Financial Consolidated Automotive
GM
Financial Consolidated Automotive
GM
Financial Consolidated
Cash flows from operating activities
Net income ............................................. $ 5,569 $ 567 $ 6,136 $ 8,850 $ 437 $ 9,287 $ 6,413 $ 90 $ 6,503
Depreciation, impairment charges and amortization expense ...... 38,546 216 38,762 7,344 83 7,427 6,923 7 6,930
Foreign currency remeasurement and transaction (gains) losses . . . . 117 — 117 56 (1) 55 209 1 210
Amortization of discount (premium) and issuance costs on debt
issues ................................................ 189 (1) 188 200 (40) 160 163 (28) 135
Undistributed earnings of nonconsolidated affiliates and gain on
investments ........................................... (179) — (179) (1,947) — (1,947) (753) — (753)
Pension contributions and OPEB payments .................... (3,759) — (3,759) (2,269) — (2,269) (5,723) — (5,723)
Pension and OPEB (income) expense, net ..................... 3,232 — 3,232 (755) — (755) 412 — 412
(Gains) losses on extinguishment of debt ...................... 250 — 250 (18) — (18) (196) — (196)
Provisions (benefits) for deferred taxes ....................... (35,462) (99) (35,561) (311) (7) (318) 242 12 254
Change in other investments and miscellaneous assets ........... (57) — (57) (155) — (155) (137) — (137)
Change in other operating assets and liabilities ................. 630 57 687 (3,897) (70) (3,967) (981) 15 (966)
Other operating activities .................................. 555 234 789 331 335 666 17 94 111
Net cash provided by operating activities ...................... 9,631 974 10,605 7,429 737 8,166 6,589 191 6,780
Cash flows from investing activities
Expenditures for property .................................. (8,055) (13) (8,068) (6,241) (8) (6,249) (4,200) (2) (4,202)
Available-for-sale marketable securities, acquisitions ............ (4,650) — (4,650) (20,535) — (20,535) (11,012) — (11,012)
Trading marketable securities, acquisitions .................... (6,234) — (6,234) (6,571) — (6,571) (358) — (358)
Available-for-sale marketable securities, liquidations ............ 10,519 — 10,519 15,825 — 15,825 5,611 — 5,611
Trading marketable securities, liquidations .................... 7,267 — 7,267 660 — 660 343 — 343
Acquisition of companies, net of cash acquired (a) .............. (44) — (44) (53) — (53) (3,580) 538 (3,042)
Increase due to consolidation of business units ................. — — — — — — 63 — 63
Proceeds from sale of business units/investments, net ............ 18 — 18 4,821 — 4,821 317 — 317
Increase in restricted cash and marketable securities ............. (525) (136) (661) (543) (185) (728) (871) (47) (918)
Decrease in restricted cash and marketable securities ............ 1,043 483 1,526 1,894 173 2,067 13,823 92 13,915
Purchases and originations of finance receivables ............... — (6,789) (6,789) — (5,012) (5,012) — (947) (947)
Principal collections and recoveries on finance receivables ........ — 4,674 4,674 — 3,719 3,719 — 871 871
Purchases of leased vehicles, net ............................ — (1,050) (1,050) — (837) (837) — (11) (11)
Proceeds from termination of leased vehicles .................. 4 55 59 9 38 47 346 — 346
Other investing activities .................................. (72) — (72) 106 — 106 236 21 257
Net cash provided by (used in) investing activities .............. (729) (2,776) (3,505) (10,628) (2,112) (12,740) 718 515 1,233
Cash flows from financing activities
Net increase (decrease) in short-term debt ..................... (247) — (247) 131 — 131 (1,097) — (1,097)
Proceeds from issuance of debt (original maturities greater than
three months) .......................................... 436 8,600 9,036 467 8,567 9,034 718 1,168 1,886
Payments on debt (original maturities greater than three months) . . . (1,143) (6,234) (7,377) (1,471) (6,997) (8,468) (10,536) (1,675) (12,211)
Proceeds from issuance of stock ............................. 4 — 4 11 — 11 4,857 — 4,857
Payments to purchase stock ................................ (5,098) — (5,098) — — — (1,462) — (1,462)
Payments to acquire noncontrolling interest .................... — — — (100) — (100) (6) — (6)
Debt issuance costs and fees paid for debt modifications ......... (72) (48) (120) — (50) (50) (161) (4) (165)
Cash dividends paid (including premium paid on redemption of
Series A Preferred Stock) ................................ (939) — (939) (916) — (916) (1,572) — (1,572)
Net cash provided by (used in) financing activities .............. (7,059) 2,318 (4,741) (1,878) 1,520 (358) (9,259) (511) (9,770)
Effect of exchange rate changes on cash and cash equivalents ....... (9) 1 (8) (250) (3) (253) (57) — (57)
Net transactions with Automotive/GM Financial .................. (200) 200 — (235) 235 — — — —
Net increase (decrease) in cash and cash equivalents ............... 1,634 717 2,351 (5,562) 377 (5,185) (2,009) 195 (1,814)
Cash and cash equivalents reclassified to assets held for sale ........ — — — — — — 391 — 391
Cash and cash equivalents at beginning of period ................. 15,499 572 16,071 21,061 195 21,256 22,679 — 22,679
Cash and cash equivalents at end of period .................... $17,133 $ 1,289 $ 18,422 $ 15,499 $ 572 $ 16,071 $ 21,061 $ 195 $ 21,256
(a) Represents cash on hand at acquisition for GM Financial in the year ended December 31, 2010.
General Motors Company 2012 ANNUAL REPORT44