DELPHI 2013 Annual Report Download - page 74

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Payments due by Period
Total 2014 2015 & 2016 2017 & 2018 Thereafter
(in millions)
Debt and capital lease obligations (excluding interest)........ $ 2,412 $ 61 $ 102 $ 447 $ 1,802
Estimated interest costs related to debt and capital lease
obligations 852 118 252 233 249
Operating lease obligations.................................................. 467 108 168 103 88
Contractual commitments for capital expenditures.............. 216 216 — — —
Other contractual purchase commitments, including
information technology..................................................... 518 186 232 97 3
Total 4,465 $ 689 $ 754 $ 880 $ 2,142
Capital Expenditures
Supplier selection in the auto industry is generally finalized several years prior to the start of production of the vehicle.
Therefore, current capital expenditures are based on customer commitments entered into previously, generally several years ago
when the customer contract was awarded. As of December 31, 2013, we had approximately $216 million in outstanding
cancellable and non-cancellable capital commitments. Capital expenditures by operating segment and geographic region for the
periods presented were:
Year ended December 31, 2013
2013 2012 2011
(in millions)
Electrical/Electronic Architecture ............................................................................. $ 293 $ 238 $ 219
Powertrain Systems ................................................................................................... 224 304 228
Electronics and Safety............................................................................................... 64 66 100
Thermal Systems ....................................................................................................... 77 63 70
Eliminations and Other.............................................................................................. 24 34 13
Total capital expenditures....................................................................................... $ 682 $ 705 $ 630
North America........................................................................................................... $ 199 $ 210 $ 176
Europe, Middle East & Africa................................................................................... 281 308 278
Asia Pacific................................................................................................................ 174 155 118
South America........................................................................................................... 28 32 58
Total capital expenditures....................................................................................... $ 682 $ 705 $ 630
Cash Flows
Intra-month cash flow cycles vary by region, but in general we are users of cash through the first half of a typical month
and we generate cash during the latter half of a typical month. Due to this cycle of cash flows, we may utilize short-term
financing, including our Revolving Credit Facility and European facilities, to manage our intra-month working capital needs.
Our cash balance typically peaks at month end.
Cash in the U.S. is primarily managed centrally through a U.S. cash pooling arrangement and cash in Europe is primarily
managed centrally through a European cash pooling arrangement. Outside the U.S. and Europe, cash may be managed through
a country cash pool, a self-managed cash flow arrangement or a combination of the two depending on our presence in the
respective country.
Operating Activities. Net cash provided by operating activities totaled $1,750 million and $1,478 million for the year
ended December 31, 2013 and 2012, respectively. The $272 million increase primarily reflects increased earnings during 2013.
Cash flow from operating activities for the year ended December 31, 2013 consisted primarily of net earnings of $1,301 million
increased by $661 million for non-cash charges for depreciation and amortization, pension and other postretirement benefit
expenses and extinguishment of debt, partially offset by $200 million related to changes in operating assets and liabilities, net
of restructuring and pension contributions. Cash flow from operating activities for the year ended December 31, 2012 consisted
primarily of net earnings of $1,160 million increased by $554 million for non-cash charges for depreciation and amortization,
pension and other postretirement benefit expenses and extinguishment of debt, partially offset by $207 million related to
changes in operating assets and liabilities, net of restructuring and pension contributions.