DELPHI 2011 Annual Report Download - page 68

Table of Contents
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, 2011, we had approximately $233 million in outstanding cancellable and non-cancellable capital commitments. Capital expenditures by
operating segment and geographic region for the periods presented were:
Successor Predecessor
Year ended
December 31,
2011
Year ended
December 31,
2010
Period from
August 19 to
December 31,
2009
Period from
January 1 to
October 6,
2009
(in millions) (in millions)
Electrical/Electronic Architecture $ 219 $ 202 $ 21 $ 60
Powertrain Systems 228 186 41 167
Electronics and Safety 100 59 14 58
Thermal Systems 70 35 8 29
Eliminations and Other 13 18 4 7
Continuing operations capital expenditures 630 500 88 321
Discontinued operations — — — 99
Total capital expenditures $ 630 $ 500 $ 88 $ 420
North America $ 176 $ 140 $ 21 $ 91
Europe, Middle East & Africa 278 236 51 187
Asia Pacific 118 87 6 28
South America 58 37 10 15
Continuing operations capital expenditures 630 500 88 321
Discontinued operations — — — 99
Total capital expenditures $ 630 $ 500 $ 88 $ 420
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
factoring lines, to manage our intra-month working capital needs. Our cash balance typically peaks at month end.
Cash in the U.S. is managed centrally through a U.S. cash pooling arrangement. As of December 31, 2011, all but one of our European operations were
participating in a European cash pool. Outside the U.S. and those countries participating in the pan-European cash pool, 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 $1,377 million and $1,142 million for the years ended December 31, 2011 and
2010, respectively. The $235 million increase primarily reflects higher earnings resulting from increased volumes, partially offset by higher working capital
requirements. Cash flow from operating activities for the year ended December 31, 2011 consisted of net earnings of $1,223 million increased by $475
million for non-cash charges for depreciation and amortization, partially offset by $370 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, 2010 consisted of net earnings of $703 million
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