Cash Flow Statement
Quarterly Data
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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- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Analysis of Solvency Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Current Ratio since 2010
- Total Asset Turnover since 2010
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General Motors Co., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
The financial information reveals fluctuating cash flows over the observed period, spanning from March 2021 to December 2025. Operating activities generally provide a net cash inflow, though with significant quarterly variations. Investing activities consistently represent a net cash outflow, primarily driven by expenditures related to finance receivables and leased vehicles. Financing activities demonstrate considerable volatility, shifting between net cash inflows and outflows, influenced by debt issuance, repayments, stock transactions, and dividend payments.
- Net Income
- Net income exhibited variability throughout the period. Initial quarters showed values above $3 billion, followed by a decline to approximately $1.7 billion by December 2021. A recovery occurred in 2022, peaking at $3.252 billion in September, before decreasing again. A substantial net loss of -$2.874 billion was recorded in December 2022. Subsequent quarters in 2023 and 2024 showed fluctuating profitability, with another significant net loss of -$3.260 billion in December 2025.
- Operating Cash Flow
- Net cash provided by operating activities demonstrated a strong surge in June 2021, reaching $7.162 billion. This was followed by a substantial decrease, with a net outflow in September 2021. The remainder of 2021 and 2022 saw consistently positive cash flow from operations, generally between $3 billion and $7.6 billion per quarter. 2023 and 2024 continued this trend, although with a slight decrease in overall magnitude, and remained positive through December 2025.
- Investing Cash Flow
- Investing activities consistently consumed cash. Significant outflows were associated with purchases of finance receivables, leased vehicles, and marketable securities. While proceeds from sales and liquidations partially offset these outflows, a substantial net cash outflow persisted throughout the entire period. The largest outflow occurred in December 2022, reaching -$6.911 billion. The outflow remained substantial through December 2025.
- Financing Cash Flow
- Financing activities displayed the most significant fluctuations. Large inflows were observed in several quarters, primarily due to debt issuance. However, these were often offset by substantial outflows related to debt repayments, common stock purchases, and dividend payments. A particularly large net cash outflow of -$8.179 billion occurred in December 2023, largely attributable to payments to purchase common stock. A significant outflow was also observed in December 2025.
- Depreciation and Impairment
- Depreciation and impairment charges, encompassing equipment and property, consistently contributed positive cash flow to operating activities. These charges remained relatively stable between approximately $1.2 billion and $1.8 billion per quarter throughout the period, with a noticeable increase in depreciation, amortization and impairment charges on Property, net in 2023 and 2024.
- Other Significant Items
- Changes in other operating assets and liabilities exhibited substantial volatility, ranging from positive contributions of over $5 billion to negative impacts exceeding $4.8 billion. Undistributed earnings/losses of nonconsolidated affiliates also showed considerable fluctuation. Pension contributions and OPEB payments remained consistently negative, representing cash outflows, while pension and OPEB income/loss also fluctuated. Provision for deferred taxes varied significantly, impacting cash flow in different quarters.
Overall, the company’s cash flow profile is characterized by a reliance on operating and financing activities to fund substantial investments. The significant fluctuations in financing activities suggest a dynamic capital structure management strategy. The consistent cash outflow from investing activities indicates ongoing investment in the business, particularly in finance receivables and leased vehicles. The net income volatility, coupled with the large swings in financing cash flow, warrants further investigation into the underlying drivers of these changes.