General Motors 2013 Annual Report Download - page 59

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GENERAL MOTORS COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
Years Ended December 31,
2013 2012 2011
Cash flows from operating activities
Net income ............................................................................ $ 5,331 $ 6,136 $ 9,287
Depreciation, impairment charges and amortization expense ..................................... 8,041 38,762 7,427
Foreign currency remeasurement and transaction losses ......................................... 350 117 55
Amortization of discount and issuance costs on debt issues ...................................... 114 188 160
Undistributed earnings of nonconsolidated affiliates and gain on investments ........................ (92) (179) (1,947)
Pension contributions and OPEB payments ................................................... (1,458) (3,759) (2,269)
Pension and OPEB (income) expense, net .................................................... 638 3,232 (755)
(Gains) losses on extinguishment of debt ..................................................... 212 250 (18)
Provision (benefit) for deferred taxes ........................................................ 1,561 (35,561) (318)
Change in other operating assets and liabilities (Note 26) ........................................ (1,326) 630 (4,122)
Other operating activities ................................................................. (741) 789 666
Net cash provided by operating activities ..................................................... 12,630 10,605 8,166
Cash flows from investing activities
Expenditures for property ................................................................. (7,565) (8,068) (6,249)
Available-for-sale marketable securities, acquisitions ........................................... (6,754) (4,650) (20,535)
Trading marketable securities, acquisitions ................................................... (3,214) (6,234) (6,571)
Available-for-sale marketable securities, liquidations ........................................... 3,566 10,519 15,825
Trading marketable securities, liquidations ................................................... 6,538 7,267 660
Acquisition of companies, net of cash acquired ................................................ (2,623) (44) (53)
Proceeds from sale of business units/investments, net of cash disposed ............................. 896 18 4,821
Increase in restricted cash and marketable securities ............................................ (984) (661) (728)
Decrease in restricted cash and marketable securities ........................................... 1,107 1,526 2,067
Purchases and funding of finance receivables ................................................. (30,727) (6,789) (5,012)
Principal collections and recoveries on finance receivables ...................................... 27,444 4,674 3,719
Purchases of leased vehicles, net ........................................................... (2,254) (1,050) (837)
Proceeds from termination of leased vehicles ................................................. 217 59 47
Other investing activities ................................................................. (9) (72) 106
Net cash used in investing activities ......................................................... (14,362) (3,505) (12,740)
Cash flows from financing activities
Net increase (decrease) in short-term debt .................................................... 156 (247) 131
Proceeds from issuance of debt (original maturities greater than three months) ....................... 28,041 9,036 9,034
Payments on debt (original maturities greater than three months) .................................. (20,191) (7,377) (8,468)
Payments to purchase stock ............................................................... (2,438) (5,098) —
Dividends paid (including charge related to purchase of Series A Preferred Stock) .................... (1,687) (939) (916)
Other financing activities ................................................................. (150) (116) (139)
Net cash provided by (used in) financing activities ............................................. 3,731 (4,741) (358)
Effect of exchange rate changes on cash and cash equivalents ...................................... (400) (8) (253)
Net increase (decrease) in cash and cash equivalents .............................................. 1,599 2,351 (5,185)
Cash and cash equivalents at beginning of period ................................................ 18,422 16,071 21,256
Cash and cash equivalents at end of period ................................................... $ 20,021 $ 18,422 $ 16,071
Significant Non-cash Activity
Investing Cash Flows
Non-cash property additions ............................................................... $ 3,224 $ 3,879 $ 3,689
Financing Cash Flows
Contribution of common stock to U.S. hourly and salaried pension plans (Note 15) ................... $ 1,864
Notes issued to settle CAW hourly retiree healthcare plan (Note 15) ............................... $ 1,122
Mandatory conversion of Series B Preferred Stock into common stock (Note 21) ..................... $ 4,854
Reference should be made to the notes to consolidated financial statements.
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