Chrysler 2015 Annual Report Download - page 71

2015 | ANNUAL REPORT 71
Investing Activities — Year Ended December 31, 2014
For the year ended December31, 2014, net cash used in investing activities of €8,140 million was primarily the result of:
(i) €7,804 million of capital expenditures, including €2,132 million of capitalized development costs, to support
investments in existing and future products. Capital expenditures primarily related to the mass-market vehicle
operations in NAFTA and EMEA and the ongoing construction of the plant at Pernambuco, Brazil;
(ii) €78 million of a net decrease in receivables from financing activities which primarily related to the decreased
lending portfolio of the financial services activities of the Group; and
(iii) €532 million of cash flows used by discontinued operations.
Investing Activities — Year Ended December 31, 2013
For the year ended December31, 2013, our net cash used in investing activities of €8,054 million was primarily the
result of:
(i) €7,219 million of capital expenditures, including €1,950 million of capitalized development costs, to support
our investments in existing and future products. The capitalized development costs primarily included materials
costs and personnel related expenses relating to engineering, design and development focused on content
enhancement of existing vehicles, new models and powertrain programs in NAFTA and EMEA. The remaining
capital expenditures primarily related to the mass-market vehicle operations in NAFTA and EMEA and the ongoing
construction of the plant at Pernambuco, Brazil;
(ii) €166 million related to equity investments, which principally included €94million of additional investment in RCS
MediaGroup S.p.A. and €37million of capital injection into the 50 percent joint venture related to GAC Fiat Chrysler
Automobiles Co. Ltd.;
(iii) €409 million of net increase in receivables from financing activities, primarily due to the increased lending portfolio
of the financial services activities of the Group; and
(iv) €301 million of cash flows used by discontinued operations.
These cash outflows were partially offset by:
(v) €55 million proceeds from the sale of tangible and intangible assets.
Financing Activities —Year Ended December 31, 2015
For the year ended December31, 2015, net cash used in financing activities was €3,128 million and was primarily the
result of:
(i) the prepayment of FCA US’s secured senior notes due June 15, 2019 for an aggregate principal amount of €2,518
million and the prepayment of FCA US’s secured senior notes due June 15, 2021 for an aggregate principal
amount of €2,833 million;
(ii) the repayment at maturity of two notes that had been issued under the Global Medium Term Note Programme
(“GMTN Programme”), one for a principal amount of €1,500 million and another for a principal amount of CHF 425
million (€390 million); and
(iii) the payment of medium-term borrowings for a total of €4,412 million, which included the repayment of the EIB
loan of €250 million at maturity, the prepayment of our Mexican development banks credit facilities of €414 million
as part of FCA Mexico’s refinancing transaction completed in March 2015, total payments of €244 million on the
Canadian HCT Notes, and other repayments of borrowings, primarily in Brazil and FCA treasury companies.