Selected Quarterly Financial Data

12 Months Ended

Dec. 31, 2014

SELECTED QUARTERLY FINANCIAL DATA [Abstract]

Selected Quarterly Financial Data

SELECTED QUARTERLY FINANCIAL DATA (unaudited)

Selected financial data by calendar quarter were as follows (in millions, except per share amounts):

	2014									2013
Automotive Sector	First Quarter		Second Quarter		Third Quarter		Fourth Quarter			First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Revenues	$	33,876	$	35,365	$	32,779	$	33,762		$	33,858	$	36,079	$	33,857	$	35,575
Income/(Loss) before income taxes	797		1,689		526		(464		)	1,620		1,368		1,728		652
Financial Services Sector
Revenues	$	2,000	$	2,046	$	2,141	$	2,108		$	1,791	$	1,844	$	1,918	$	1,995
Income/(Loss) before income taxes	462		429		495		408			503		451		363		355
Total Company
Income before income taxes	$	1,259	$	2,118	$	1,021	$	(56	)	$	2,123	$	1,819	$	2,091	$	1,007
Amounts Attributable to Ford Motor Company Common and Class B Shareholders
Net income	$	989	$	1,311	$	835	$	52		$	1,611	$	1,233	$	1,272	$	3,066
Common and Class B per share from income from continuing operations
Basic	$	0.25	$	0.33	$	0.22	$	0.01		$	0.41	$	0.31	$	0.32	$	0.78
Diluted	0.24		0.32		0.21		0.01			0.40		0.30		0.31		0.75

Certain of the quarterly results identified above include material unusual or infrequently occurring items as follows:

Results in the first, second, third, and fourth quarters of 2014 each include an unfavorable item for separation-related actions in Europe and Australia to support each region’s transformation plan of $122 million, $152 million, $160 million, and $251 million, respectively (see Note 20).

Results in the second quarter of 2014 include an unfavorable item of $329 million for the equity impairment of Ford Sollers (see Note 22).

Net income attributable to Ford Motor Company of $835 million in the third quarter of 2014 includes favorable tax items of $245 million resulting from a change in our methodology for measuring currency gains and losses in computing earnings of Ford Credit’s European operations under U.S. law, as well as changes to tax depreciation related to assets used in our Automotive export operations.

Results in the fourth quarter of 2014 include an unfavorable item of $800 million for a Venezuela accounting change (see Note 1).

Net income attributable to Ford Motor Company of $52 million in the fourth quarter of 2014 includes favorable tax items of $176 million related to retroactive reinstatement of U.S. tax legislation in the Tax Increase Prevention Act of 2014.

Results in the second, third, and fourth quarters of 2013 each include an unfavorable item for separation-related actions in Europe to support the Company’s transformation plan of $430 million, $215 million, and $113 million, respectively (see Note 20).

Results in the second, third, and fourth quarters of 2013 each include an unfavorable item related to the U.S. salaried lump-sum pension buyout program of $294 million, $145 million and $155 million, respectively (see Note 12).

Net income attributable to Ford Motor Company of $3 billion in the fourth quarter of 2013 includes favorable tax items of $2.1 billion, including the impact of a one-time favorable increase in deferred tax assets related to investments in European operations and the release of valuation allowances held against other deferred tax assets (see Note 21).