Please explain: Net Income = -$129M, but Cash has decreased by $7.7B?

"DEARBORN, Mich. - Ford Motor Co. said Friday it lost $129 million in the third quarter as the struggling automaker burned through $7.7 billion in cash."
What were the non-cash items which prevented the Net Income to be - $7.7B? It sounds like they're amortizing some gains, and in general, they have a lot of non-cash income which has softened their decrease in cash flows.
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You need to understand what they are saying. "Burned through $7.7 billion in cash." doesn't mean it was from sales. Cash could come from borrowings, from sales of assets, sales of additional stock, existing cash reserves, etc.
Also, they could be spending the cash on non expense items, like making inventory which hasn't sold yet. Money out the door with no bookable expense and no sales revenues.

Not to me.

It's possible there was some non-cash income being reported. But it's not all there. You'd have to dig through their financials (and the crap they publish isn't going to give you the info) to know what actually happened.
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Paul A. Thomas, CPA
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