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.

General Motors Co., consolidated cash flow statement (quarterly data)

US$ in millions

3 months ended:	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Net income	1,353)	2,705)	(3,260)	1,293)	1,894)	2,853)	(2,874)	3,007)	2,877)	2,953)	1,994)	2,993)	2,507)	2,346)	2,007)	3,252)	1,642)	2,807)	1,766)	2,386)	2,779)	3,014)
Depreciation and impairment of Equipment on operating leases, net	1,316)	1,331)	1,267)	1,237)	1,235)	1,203)	1,211)	1,208)	1,182)	1,243)	1,207)	1,221)	1,235)	1,241)	1,211)	1,201)	1,204)	1,223)	1,319)	1,539)	1,565)	1,653)
Depreciation, amortization, and impairment charges on Property, net	1,787)	1,699)	3,234)	2,875)	1,806)	1,731)	2,022)	1,664)	2,304)	1,555)	1,943)	1,771)	1,699)	1,571)	1,559)	1,572)	1,652)	1,668)	1,618)	1,542)	1,453)	1,362)
Foreign currency remeasurement and transaction (gains) losses	94)	(64)	78)	23)	110)	152)	(93)	(80)	(112)	(36)	235)	(34)	13)	135)	146)	(49)	19)	56)	42)	(34)	48)	(73)
Undistributed (earnings) loss of nonconsolidated affiliates, net	359)	(266)	1,389)	(187)	98)	485)	4,405)	(186)	(133)	32)	279)	(227)	254)	(61)	317)	77)	73)	(274)	(211)	(322)	365)	(349)
Pension contributions and OPEB payments	(201)	(231)	(106)	(124)	(114)	(195)	(703)	(385)	(188)	(242)	(424)	(218)	(222)	(236)	(204)	(185)	(188)	(213)	(214)	(199)	(203)	(222)
Pension and OPEB (income) expense, net	11)	11)	6)	(9)	32)	—)	39)	20)	15)	15)	154)	(23)	(21)	(20)	(288)	(299)	(302)	(300)	(400)	(402)	(406)	(397)
Provision (benefit) for deferred taxes	67)	222)	(1,376)	(78)	62)	143)	(28)	269)	472)	655)	(1,276)	277)	(88)	46)	(79)	425)	160)	(81)	251)	150)	728)	1,085)
Change in other operating assets and liabilities	1,565)	(2,456)	5,508)	2,075)	1,784)	(311)	591)	1,344)	(442)	(3,022)	708)	836)	2,214)	(1,936)	1,745)	(803)	(1,137)	(2,782)	5,317)	(4,709)	833)	(4,807)
Other operating activities	3)	(1)	55)	(2)	1)	—)	(430)	—)	1)	(1)	(1,163)	—)	—)	—)	(790)	—)	1)	—)	(2,679)	—)	—)	—)
Net cash provided by operating activities	6,354)	2,950)	6,795)	7,103)	6,908)	6,061)	4,140)	6,861)	5,976)	3,152)	3,657)	6,596)	7,591)	3,086)	5,624)	5,191)	3,124)	2,104)	6,809)	(49)	7,162)	1,266)
Expenditures for property	(1,942)	(1,512)	(3,220)	(2,130)	(2,137)	(1,816)	(3,233)	(2,245)	(2,569)	(2,783)	(3,706)	(2,581)	(2,252)	(2,431)	(3,305)	(2,104)	(2,168)	(1,661)	(3,199)	(1,859)	(1,573)	(878)
Available-for-sale marketable securities, acquisitions	(777)	(734)	(554)	(537)	(603)	(645)	(519)	(1,235)	(1,237)	(995)	(440)	(1,262)	(2,084)	(643)	(4,387)	(1,845)	(2,154)	(3,451)	(3,178)	(1,694)	(1,724)	(2,366)
Available-for-sale marketable securities, liquidations	799)	2,845)	614)	679)	654)	1,065)	1,574)	1,222)	790)	745)	2,670)	1,271)	2,457)	2,947)	1,912)	2,307)	1,878)	1,960)	1,111)	1,310)	3,294)	3,632)
Purchases of finance receivables	(10,329)	(8,407)	(8,494)	(8,976)	(9,217)	(10,058)	(10,484)	(9,225)	(8,707)	(7,932)	(8,199)	(9,370)	(8,847)	(8,963)	(7,530)	(9,215)	(9,040)	(8,189)	(7,491)	(8,033)	(9,312)	(8,173)
Principal collections and recoveries on finance receivables	8,613)	9,100)	8,585)	9,238)	8,330)	8,956)	8,258)	7,948)	7,927)	7,651)	7,211)	7,213)	6,640)	7,282)	6,365)	6,862)	6,815)	6,845)	6,325)	6,351)	5,861)	6,085)
Proceeds from sale of finance receivables	—)	—)	—)	2,005)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Purchases of leased vehicles	(3,317)	(3,274)	(3,184)	(4,018)	(4,379)	(4,212)	(4,036)	(3,754)	(4,053)	(3,436)	(3,393)	(3,413)	(3,680)	(3,154)	(2,887)	(2,859)	(3,213)	(2,990)	2,096)	(4,259)	(6,326)	(6,113)
Proceeds from termination of leased vehicles	3,029)	2,520)	2,315)	2,454)	2,797)	2,529)	2,265)	2,470)	3,072)	3,085)	3,173)	3,187)	3,409)	3,264)	3,182)	3,503)	3,817)	3,732)	(1,120)	4,645)	5,949)	4,919)
Other investing activities	(191)	94)	277)	(30)	(2,113)	(309)	(338)	(198)	(296)	(249)	121)	(321)	(205)	(564)	(261)	607)	(253)	(155)	40)	(390)	(195)	(90)
Net cash (used in) provided by investing activities	(4,115)	632)	(3,661)	(1,315)	(6,668)	(4,490)	(6,513)	(5,017)	(5,073)	(3,914)	(2,563)	(5,276)	(4,562)	(2,262)	(6,911)	(2,744)	(4,318)	(3,909)	(5,416)	(3,929)	(4,026)	(2,984)
Net increase (decrease) in short-term debt	(108)	92)	(325)	(16)	(141)	170)	43)	(209)	543)	(249)	(108)	(118)	237)	(167)	(835)	193)	293)	722)	(291)	838)	822)	1,543)
Proceeds from issuance of debt, original maturities greater than three months	14,974)	8,376)	6,069)	6,454)	13,771)	16,897)	15,272)	8,793)	15,063)	14,307)	13,606)	11,122)	14,748)	11,487)	9,760)	12,457)	12,911)	10,685)	10,457)	8,888)	12,605)	13,350)
Payments on debt, original maturities greater than three months	(14,883)	(10,813)	(8,200)	(10,075)	(12,100)	(15,216)	(11,387)	(8,108)	(10,764)	(13,140)	(11,406)	(9,457)	(11,685)	(12,127)	(7,957)	(9,385)	(11,437)	(10,827)	(9,540)	(11,231)	(14,333)	(12,702)
Payments to purchase common stock	(2,000)	(800)	(2,500)	(1,500)	—)	(2,012)	(4,686)	(1,032)	(1,066)	(280)	(9,996)	(250)	(500)	(369)	(1,000)	(1,500)	—)	—)	—)	—)	—)	—)
Issuance (redemption) of subsidiary stock	—)	—)	—)	—)	—)	(29)	(101)	—)	—)	—)	—)	—)	—)	—)	—)	6)	(3)	(2,124)	—)	—)	199)	1,537)
Dividends paid	(608)	(223)	(138)	(200)	(144)	(175)	(127)	(192)	(136)	(198)	(104)	(182)	(126)	(185)	(127)	(189)	(8)	(73)	(16)	(76)	(18)	(76)
Other financing activities	(131)	(321)	95)	47)	(144)	(178)	(39)	(82)	(147)	(140)	(171)	(132)	(146)	(324)	(157)	(121)	(666)	(235)	(78)	(44)	(55)	(35)
Net cash provided by (used in) financing activities	(2,756)	(3,689)	(4,999)	(5,290)	1,242)	(543)	(1,025)	(830)	3,493)	300)	(8,179)	983)	2,528)	(1,685)	(316)	1,461)	1,090)	(1,852)	532)	(1,625)	(780)	3,617)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	30)	(114)	(61)	(88)	276)	50)	(353)	82)	(155)	(77)	24)	(78)	55)	54)	52)	(124)	(159)	93)	(34)	(111)	133)	(140)
Net increase (decrease) in cash, cash equivalents, and restricted cash	(487)	(221)	(1,926)	410)	1,758)	1,078)	(3,751)	1,096)	4,241)	(539)	(7,061)	2,225)	5,612)	(807)	(1,551)	3,784)	(263)	(3,564)	1,891)	(5,714)	2,489)	1,759)

Operating performance is characterized by significant volatility in net income, which exhibits periodic sharp declines, most notably in the fourth quarters of 2024 and 2025. Despite these fluctuations in accounting profit, net cash provided by operating activities remains generally robust, frequently exceeding 6 billion US dollars per quarter, indicating a strong ability to generate cash from core operations regardless of net income swings.

Operating Cash Flow Drivers: Cash flow from operations is supported by consistent non-cash charges, with depreciation and impairment charges on property and equipment trending upward, peaking at 3.23 billion US dollars in December 2025. Changes in other operating assets and liabilities introduce substantial quarterly variance, with a notable surge to 5.51 billion US dollars in December 2025, which helped offset significant net losses during that period.
Investment and Capital Expenditure Patterns: Investing activities are dominated by the financing arm and capital expenditures. Expenditures for property remain high, typically ranging between 1.5 billion and 3.7 billion US dollars per quarter. The business maintains a heavy investment in finance receivables, with quarterly purchases consistently between 7.5 billion and 10.5 billion US dollars, largely offset by principal collections averaging 6 billion to 9 billion US dollars. Similar patterns are observed in the leased vehicle portfolio, where purchases generally exceed termination proceeds.
Financing and Capital Return Strategy: The financing strategy relies on a high-volume debt rollover mechanism, with quarterly debt issuances frequently exceeding 10 billion US dollars and payments remaining in a similar range. Capital return to shareholders is inconsistent; while dividends are relatively stable and modest, there are aggressive periods of common stock repurchases, including a peak expenditure of nearly 10 billion US dollars in December 2023 and 4.69 billion US dollars in December 2024.

The overall liquidity position fluctuates significantly due to the timing of large-scale financing activities and strategic stock buybacks. While the company maintains strong operating cash generation, the net increase or decrease in cash is heavily influenced by the net balance of debt issuance and the scale of capital returns, leading to a highly variable quarterly cash balance.

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General Motors Co. (NYSE:GM)

Cash Flow StatementQuarterly Data

Cash Flow Statement
Quarterly Data