General Motors 2014 Annual Report Download - page 69

Download and view the complete annual report

Please find page 69 of the 2014 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 136

  • 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

GENERAL MOTORS COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
Years Ended December 31,
2014 2013 2012
Cash flows from operating activities
Net income ............................................................................ $ 4,018 $ 5,331 $ 6,136
Depreciation, amortization and impairment charges ............................................ 7,238 8,041 38,762
Foreign currency remeasurement and transaction losses ......................................... 437 350 117
Amortization of discount and issuance costs on debt issues ...................................... 181 114 188
Undistributed earnings of nonconsolidated affiliates and gains on investments ....................... (301) (92) (179)
Pension contributions and OPEB payments ................................................... (1,315) (1,458) (3,759)
Pension and OPEB expense, net ............................................................ 439 638 3,232
(Gains) losses on extinguishment of debt ..................................................... (202) 212 250
Provision (benefit) for deferred taxes ........................................................ (574) 1,561 (35,561)
Change in other operating assets and liabilities (Note 26) ........................................ 244 (1,326) 630
Other operating activities ................................................................. (107) (741) 789
Net cash provided by operating activities ..................................................... 10,058 12,630 10,605
Cash flows from investing activities
Expenditures for property ................................................................. (7,091) (7,565) (8,068)
Available-for-sale marketable securities, acquisitions ........................................... (7,636) (6,754) (4,650)
Trading marketable securities, acquisitions ................................................... (1,518) (3,214) (6,234)
Available-for-sale marketable securities, liquidations ........................................... 6,874 3,566 10,519
Trading marketable securities, liquidations ................................................... 1,881 6,538 7,267
Acquisition of companies, net of cash acquired ................................................ (53) (2,623) (44)
Proceeds from sale of business units/investments, net of cash disposed ............................. — 896 18
Increase in restricted cash and marketable securities ............................................ (839) (984) (661)
Decrease in restricted cash and marketable securities ........................................... 515 1,107 1,526
Purchase of finance receivables ............................................................ (14,744) (10,838) (6,122)
Principal collections and recoveries on finance receivables ...................................... 10,860 7,555 4,007
Purchases of leased vehicles, net ........................................................... (4,776) (2,254) (1,050)
Proceeds from termination of leased vehicles ................................................. 533 217 59
Other investing activities ................................................................. 296 (9) (72)
Net cash used in investing activities ......................................................... (15,698) (14,362) (3,505)
Cash flows from financing activities
Net increase (decrease) in short-term debt .................................................... 391 156 (247)
Proceeds from issuance of debt (original maturities greater than three months) ....................... 31,373 28,041 9,036
Payments on debt (original maturities greater than three months) .................................. (19,524) (20,191) (7,377)
Payments to purchase stock ............................................................... (3,277) (2,438) (5,098)
Dividends paid (including charge related to redemption and purchase of Series A Preferred Stock) ....... (3,165) (1,687) (939)
Other financing activities ................................................................. (123) (150) (116)
Net cash provided by (used in) financing activities ............................................. 5,675 3,731 (4,741)
Effect of exchange rate changes on cash and cash equivalents ...................................... (1,102) (400) (8)
Net increase (decrease) in cash and cash equivalents .............................................. (1,067) 1,599 2,351
Cash and cash equivalents at beginning of period ................................................ 20,021 18,422 16,071
Cash and cash equivalents at end of period ................................................... $ 18,954 $ 20,021 $ 18,422
Significant Non-cash Activity
Investing Cash Flows
Non-cash property additions ............................................................... $ 3,313 $ 3,224 $ 3,879
Financing Cash Flows
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.
69