DELPHI 2011 Annual Report Download - page 85

Table of Contents
DELPHI AUTOMOTIVE PLC
CONSOLIDATED STATEMENTS OF CASH FLOWS
Successor Predecessor
Year ended
December 31,
Year ended
December 31,
Period from
August 19 to
December 31,
Period from
January 1 to
October 6,
2011 2010 2009 2009
(in millions) (in millions)
Cash flows from operating activities:
Net income (loss) $ 1,223 $ 703 $ (3) $ 9,347
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation 396 351 123 537
Amortization 79 70 16 3
Amortization of deferred issuance costs 10 — — —
Restructuring expense, net of cash paid (74) (67) (23) 57
Deferred income taxes (36) (14) (93) (380)
Pension benefit expenses 70 59 23 315
Equity (income) loss, net of dividends received (13) (7) (5) 44
Reorganization items (Note 3) — — — (10,210)
Loss (gain) on investments / extinguishment of debt 4 (12) — 3
Shared-based compensation 14 5 — —
Changes in operating assets and liabilities:
Accounts receivable, net (149) (184) (85) 122
Inventories (64) (130) 40 149
Other current assets (31) 66 138 154
Accounts payable 98 354 277 (123)
Accrued and other long-term liabilities 3 88 (94) (353)
Other, net 6 (24) (111) 223
Pension contributions (159) (117) (44) (111)
Other, net — 1 — (102)
Discontinued operations (Note 20) — — — 68
Net cash provided by (used in) operating activities 1,377 1,142 159 (257)
Cash flows from investing activities:
Capital expenditures (630) (500) (88) (321)
Purchase of time deposits — (750) — —
Maturity of time deposits 550 200 — —
Proceeds from sale of property/investments 72 93 74 36
Cost of acquisitions, net of cash acquired (17) — — —
Decrease in restricted cash 38 49 28 142
Loans to related parties (14) — — —
Cash acquired from Delphi Corporation — — 862 (862)
Other, net (9) (3) 9 (11)
Discontinued operations — — — (36)
Net cash (used in) provided by investing activities (10) (911) 885 (1,052)
Cash flows from financing activities:
Repayments of amended and restated debtor-in-possession facility — — — (244)
Accommodation agreement issuance costs — — — (40)
Net borrowings under GM liquidity support agreements — — — 850
Net repayments under other short-term debt agreements (125) (49) (21) (244)
Repayments under long-term debt agreements — (50) — —
Proceeds from issuance of senior secured term loans, net of issuance costs 2,385 — — —
Repayment of senior secured terms loans (1,490) — — —
Proceeds from issuance of senior notes, net of issuance costs 976 — — —
Repayment of five-year notes (57) — — —
Proceeds from issuance of membership interests — — 2,042 —
Proceeds from issuance of five-year notes — — 41 —
Dividend payments of consolidated affiliates to minority shareholders (43) (27) — (13)
Distributions to Delphi equity holders (93) — — —
Redemption of membership interests (4,747) — — —
Discontinued operations — — — 6
Net cash (used in) provided by financing activities (3,194) (126) 2,062 315
Effect of exchange rate fluctuations on cash and cash equivalents (29) 7 1 35