Cash Flow Statement
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Statement of Comprehensive Income
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Price to FCFE (P/FCFE)
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
- Aggregate Accruals
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Ford Motor Co., consolidated cash flow statement
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
The financial data reflects notable volatility in net income, operating activities, investing activities, and financing activities over the five-year period. The company experienced a significant negative net income of -$1,276 million in 2020, followed by a strong rebound to $17,910 million in 2021. However, this was short-lived, as net income fell again to -$2,152 million in 2022 before steadily rising to $4,329 million in 2023 and $5,894 million in 2024.
Depreciation and tooling amortization remained relatively stable, with a slight downward trend from $8,751 million in 2020 to $7,567 million in 2024. Other amortization showed consistent negative values, deepening in 2024 to -$1,700 million from -$1,167 million in 2023. The provision for credit and insurance losses fluctuated, turning negative in 2021 but increasing to $575 million by 2024. Pension and other postretirement benefits exhibited significant swings, moving from expense to income and back to substantial expense, peaking in 2023 at $3,052 million before falling sharply to $149 million in 2024.
Equity method investment earnings were highly variable, with a notable spike of $3,324 million in 2022, followed by losses in 2023 and 2024. Foreign currency adjustments exhibited mixed effects, with a positive shift in 2021 but fluctuating between negative and positive values subsequently. Gains and losses on marketable securities and other investments showed large swings, particularly a massive gain of $7,518 million in 2022 following significant losses the preceding year.
Stock compensation expenses increased steadily, rising from $199 million in 2020 to $511 million in 2024. Deferred income tax provisions turned increasingly beneficial through 2023 but reversed to a provision of $350 million in 2024. Changes in operating assets and liabilities were volatile, with substantial cash inflows and outflows impacting operating cash flow. Notably, net cash provided by operating activities declined sharply from $24,269 million in 2020 to $6,853 million in 2022, before recovering to approximately $15,400 million by 2024.
Capital spending showed a consistent upward trend, increasing from -$5,742 million in 2020 to -$8,684 million in 2024, indicating ongoing investment in long-term assets. Acquisitions of finance receivables and operating leases remained large and steadily increased in magnitude, exceeding -$59,000 million by 2024. Collections of these receivables and leases exhibited a declining trend, indicating potential tightening of cash flows from these activities. Investments in marketable securities decreased significantly from 2020 to 2023, with a partial recovery in 2024, while sales and maturities also declined markedly.
Cash flows from investing activities showed considerable fluctuation, with a positive net cash inflow of $2,745 million in 2021 but large net outflows in other years, culminating in a -$24,370 million outflow in 2024, reflecting heavy investment commitments or asset acquisitions. Cash payments for dividends and dividend equivalents rose sharply in 2023 before falling in 2024. Share repurchases were limited but consistent in the last three years, indicating a moderate approach to returning value through buybacks.
Financing activities demonstrated considerable variation, with substantial proceeds from long-term debt issuance exceeding $57,000 million by 2024 and large repayments continuing each year. Net changes in short-term debt varied, with positive net changes in 2021 and 2022, followed by reductions in 2023 and 2024. Overall, net cash provided by or used in financing activities swung between outflows and inflows, showing a generally supportive role in liquidity provision.
Lastly, cash and equivalents demonstrated variability, with an initial increase in 2020, declines in subsequent years, a rebound in 2022, and decreases thereafter. The ending cash balance decreased from $25,935 million in 2020 to $23,190 million in 2024, indicating a moderate net reduction in liquid assets over the period.
- Summary
- The company experienced significant volatility in profitability, with large swings in net income and non-operating gains and losses influencing financial results. Operating cash flows recovered after a significant trough, supported by fluctuating working capital changes. Heavy investments in capital expenditures and finance receivables highlight ongoing asset growth and financing activities, with increased long-term debt issuance supporting capital needs. Despite variability, the company maintained liquidity at substantial levels, though ending cash balances showed a slight decline across the five-year span.