| | | | | | | | | | | | | | | | |
| | Full Year 2004 | | | Full Year 2003 | |
| | | | | | Financial | | | | | | | Financial | |
| | Automotive | | | Services | | | Automotive | | | Services | |
| | (unaudited) | | | | | | | | | |
Cash and cash equivalents at January 1 | | $ | 6,856 | | | $ | 16,352 | | | $ | 6,243 | | | $ | 7,071 | |
|
Cash flows from operating activities before securities trading | | | 1,397 | | | | 15,501 | | | | 1,318 | | | | 15,962 | |
Net sales/(purchases) of trading securities | | | 5,600 | | | | 92 | | | | 1,630 | | | | 524 | |
| | | | | | | | | | | | |
Net cash flows from operating activities | | | 6,997 | | | | 15,593 | | | | 2,948 | | | | 16,486 | |
|
Cash flows from investing activities | | | | | | | | | | | | | | | | |
Capital expenditures | | | (6,287 | ) | | | (458 | ) | | | (7,357 | ) | | | (379 | ) |
Acquisitions of retail and other finance receivables and operating leases | | | — | | | | (62,852 | ) | | | — | | | | (59,503 | ) |
Collections of retail and other finance receivables and operating leases | | | — | | | | 50,810 | | | | — | | | | 44,118 | |
Net (increase)/decrease in wholesale receivables | | | — | | | | (2,174 | ) | | | — | | | | (2,762 | ) |
Net acquisitions of daily rental vehicles | | | — | | | | (2,492 | ) | | | — | | | | (1,505 | ) |
Purchases of securities | | | (7,590 | ) | | | (880 | ) | | | (8,925 | ) | | | (1,149 | ) |
Sales and maturities of securities | | | 7,615 | | | | 799 | | | | 8,673 | | | | 709 | |
Proceeds from sales of finance receivables and operating leases | | | — | | | | 10,438 | | | | — | | | | 19,367 | |
Proceeds from sale of businesses | | | 125 | | | | 412 | | | | 77 | | | | 204 | |
Repayment of debt from discontinued operations | | | — | | | | — | | | | — | | | | 1,421 | |
Net investing activity with Financial Services | | | 4,361 | | | | — | | | | 3,708 | | | | — | |
Cash paid for acquisitions | | | (30 | ) | | | — | | | | — | | | | — | |
Cash recognized on initial consolidation of joint ventures | | | — | | | | — | | | | 256 | | | | — | |
Other | | | 101 | | | | (465 | ) | | | 716 | | | | 883 | |
| | | | | | | | | | | | |
Net cash (used in)/provided by investing activities | | | (1,705 | ) | | | (6,862 | ) | | | (2,852 | ) | | | 1,404 | |
|
Cash flows from financing activities | | | | | | | | | | | | | | | | |
Cash dividends | | | (732 | ) | | | — | | | | (733 | ) | | | — | |
Net sales/(purchases) of Common Stock | | | (151 | ) | | | — | | | | 9 | | | | — | |
Changes in short-term debt | | | (342 | ) | | | 5,279 | | | | (237 | ) | | | 1,542 | |
Proceeds from issuance of other debt | | | 469 | | | | 21,754 | | | | 1,144 | | | | 21,942 | |
Principal payments on other debt | | | (2,585 | ) | | | (33,436 | ) | | | (1,097 | ) | | | (27,683 | ) |
Net financing activity with Automotive | | | — | | | | (4,361 | ) | | | — | | | | (3,708 | ) |
Other | | | (39 | ) | | | (81 | ) | | | (15 | ) | | | (67 | ) |
| | | | | | | | | | | | |
Net cash (used in)/provided by financing activities | | | (3,380 | ) | | | (10,845 | ) | | | (929 | ) | | | (7,974 | ) |
|
Effect of exchange rate changes on cash | | | 117 | | | | 388 | | | | 260 | | | | 551 | |
Net transactions with Automotive/Financial Services | | | 1,258 | | | | (1,258 | ) | | | 1,186 | | | | (1,186 | ) |
| | | | | | | | | | | | |
|
Net increase/(decrease) in cash and cash equivalents | | | 3,287 | | | | (2,984 | ) | | | 613 | | | | 9,281 | |
| | | | | | | | | | | | |
|
Cash and cash equivalents at December 31 | | $ | 10,143 | | | $ | 13,368 | | | $ | 6,856 | | | $ | 16,352 | |
| | | | | | | | | | | | |