General Motors 2015 Annual Report Download - page 43
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Table of Contents
In the year ended December 31, 2014 Net cash provided by operating activities increased due primarily to larger finance receivable and lease portfolios.
Investing Activities
In the year ended December 31, 2015 Net cash used in investing activities increased due primarily to: (1) an increase in purchases of leased vehicles of
$10.4 billion; (2) an increase in finance receivables purchases and fundings, net of collections, of $1.0 billion; and (3) net cash used for the acquisition of the
equity interest in SAIC-GMAC of $0.9 billion; partially offset by (4) increased proceeds from the termination of leased vehicles of $0.6 billion.
In the year ended December 31, 2014 Net cash used in investing activities increased due primarily to: (1) increased loan purchases and funding, net of
collections, of $2.6 billion; and (2) increased purchases of leased vehicles of $2.5 billion; partially offset by (3) decreased cash used for business acquisitions
of $2.6 billion.
Financing Activities
In the year ended December 31, 2015 Net cash provided by financing activities increased due primarily to a net increase in borrowings.
In the year ended December 31, 2014 Net cash provided by financing activities increased due primarily to: (1) increased borrowings under secured and
unsecured debt of $5.6 billion; and (2) repayment of debt to Ally Financial of $1.4 billion in 2013, with no related activity in 2014; partially offset by (3)
increased debt repayment of $2.8 billion.
We do not currently utilize off-balance sheet securitization arrangements. All trade or financing receivables and related obligations subject to
securitization programs are recorded on our consolidated balance sheets at December 31, 2015 and 2014. Refer to Note 15 of our consolidated financial
statements for detailed information related to guarantees we have provided.
We have minimum commitments under contractual obligations, including purchase obligations. A purchase obligation is defined as an agreement to
purchase goods or services that is enforceable and legally binding on us and that specifies all significant terms, including: fixed or minimum quantities to be
purchased; fixed, minimum, or variable price provisions; and the approximate timing of the transaction. Other long-term liabilities are defined as long-term
liabilities that are recorded on our consolidated balance sheet. Based on these definitions, the following table includes only those contracts which include
fixed or minimum obligations. The majority of our purchases are not included in the table as they are made under purchase orders which are requirements
based and accordingly do not specify minimum quantities.
The following table summarizes aggregated information about our outstanding contractual obligations and other long-term liabilities at December 31,
2015 (dollars in millions):
40