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
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Return on Assets (ROA) since 2010
- Total Asset Turnover since 2010
- Analysis of Revenues
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General Motors Co., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Net Income (Loss)
- The quarterly net income exhibits significant volatility over the analyzed periods. There are sharp declines, notably a loss of -780 million USD in June 2020 and another loss of -2874 million USD in March 2025. Conversely, several quarters show strong profitability, with peaks such as 4018 million USD in September 2020 and 3252 million USD in September 2022. The data indicates cyclical fluctuations, potentially driven by external market factors or internal business cycles.
- Depreciation and Impairment
- Depreciation expenses related to equipment on operating leases generally show a declining trend from 1806 million USD in March 2020 to around 1200 million USD in the recent quarters, suggesting either reduced capital investments or asset disposals. Depreciation and amortization on property, however, increase notably in some quarters, reaching peaks above 2000 million USD in certain later quarters, implying ongoing or increased investments in property and related assets over time.
- Foreign Currency Remeasurement and Transaction Gains/Losses
- The foreign currency effects are variable, alternating between gains and losses, without a clear trend. Large positive or negative swings indicate exposure to currency fluctuations that materially affect quarterly results, particularly evident with values ranging from -116 million USD to 235 million USD.
- Undistributed Earnings/Losses of Nonconsolidated Affiliates
- This item fluctuates notably across quarters, showing significant negative and positive entries, including a marked increase to 4405 million USD in March 2025. Such spikes imply significant noncontrolling interest income or losses that have a considerable impact on consolidated results during certain periods.
- Pension Contributions, OPEB Payments, and Related Income/Loss
- Pension and OPEB contributions consistently represent cash outflows, typically in the range of 180 to 700 million USD. Pension and OPEB income or losses trend toward modest net income positions in recent quarters, indicating possibly improved pension fund performance or lower net liabilities.
- Provision (Benefit) for Deferred Taxes
- Tax provisions fluctuate substantially, with quarters showing both significant benefits and substantial expenses. For instance, a large tax benefit is apparent in December 2023 (-1276 million USD), contrasting with large provisions like 1085 million USD in March 2021. This volatility in tax treatment underscores variations in taxable income or tax strategy changes.
- Change in Other Operating Assets and Liabilities
- These changes display extreme volatility, with swings from large outflows to significant inflows. For example, -4807 million USD in March 2021 and +5317 million USD in December 2020 suggest substantial movements in working capital components or accruals, reflecting dynamic operational cash management.
- Other Operating Activities
- When data is provided, these activities mostly represent cash outflows, with notable large uses such as -2103 million USD in December 2020 and -2679 million USD in March 2021, indicating extraordinary or variable items affecting operations.
- Net Cash Provided by (Used in) Operating Activities
- Operating cash flow demonstrates significant variability with some quarters generating strong cash inflows, such as 11,231 million USD in September 2020, contrasting with quarters showing net outflows or near break-even. Overall, there is a tendency towards positive cash generation in most recent periods, suggesting operational recovery or improvement.
- Expenditures for Property
- Capital expenditures are substantial and variable, ranging from approximately -992 million USD to peaks exceeding -3700 million USD in some quarters, indicating ongoing significant investment in fixed assets. The spikes in certain quarters may correspond with strategic expansion or replacement cycles.
- Marketable Securities Acquisitions and Liquidations
- There is continuous activity in marketable securities with acquisitions generally exceeding liquidations earlier in the timeline, then shifting toward more liquidations in mid periods, such as 4923 million USD in December 2020. This suggests a cyclical or strategic asset allocation adjustment to optimize liquidity or returns.
- Purchases and Collections of Finance Receivables
- Purchases of finance receivables consistently outpace collections, with purchases ranging between approximately -6300 million USD and -10,000 million USD, while collections range roughly from 4700 million USD to 8956 million USD. This indicates expansion in financing activities but also highlights the need for careful monitoring of receivables quality and collection efficiency.
- Purchases and Proceeds from Leased Vehicles
- Vehicle lease-related cash flows fluctuate significantly. Purchases typically remain high in absolute terms but vary notably, from negative values indicating outflows to a positive inflow of 2096 million USD in December 2021, suggestive of lease vehicle sales or entry into different lease portfolio structures. Proceeds from termination of leases generally yield cash inflows fluctuating between approximately 2200 million USD and nearly 6000 million USD, reflecting ongoing fleet management activities.
- Other Investing Activities and Net Cash Used in Investing Activities
- Other investing activities are mixed, with sporadic inflows and outflows but generally net as outflows. Net investing cash flows remain negative across all quarters, signifying sustained cash use for investment purposes, averaging negative billions per quarter, reflecting aggressive asset acquisition or portfolio changes.
- Short-Term Debt Movements
- Short-term debt changes show moderate variability, mainly minor increases or decreases within few hundred million USD. This implies relatively stable short-term borrowing activities without drastic swings.
- Long-Term Debt Issuance and Payments
- Long-term debt proceeds and repayments are substantial and frequent. The data shows continuous issuance often in the range of 8800 million USD to 36,000 million USD per quarter, balanced against significant repayments of similar magnitudes. This active debt management suggests the company regularly refinances or adjusts its debt portfolio to optimize cost or maturity profiles.
- Payments to Purchase Common Stock and Dividends Paid
- There are accelerating share repurchase programs visible, especially post-2021, with payments growing from -369 million USD to peaks exceeding -9000 million USD, highlighting shareholder return priorities in later periods. Dividends paid remain relatively stable at around -100 to -200 million USD per quarter, indicating consistent dividend policies despite other cash flow volatilities.
- Other Financing Activities and Net Cash Provided by (Used in) Financing Activities
- Other financing activities contribute relatively minor cash outflows, often below few hundred million USD. Net cash flows from financing activities vary widely, with both substantial inflows and significant outflows, reflecting the impact of debt issuance, repayments, stock repurchases, and dividend payments leading to an unpredictable pattern aligned with financing strategy shifts.
- Effect of Exchange Rate Changes on Cash
- Currency exchange effects fluctuate quarter to quarter, contributing variability from -448 million USD to positive 182 million USD, occasionally affecting cash balances noticeably but without depicting a consistent trend.
- Net Change in Cash, Cash Equivalents, and Restricted Cash
- The net cash position exhibits pronounced volatility, with substantial increases and decreases over quarters. Large inflows such as 18,223 million USD in March 2020 contrast sharply with significant declines like -8526 million USD in June 2020. Recent quarters display smaller but still material fluctuations, suggesting a dynamic cash management approach responsive to operational and market conditions.