EX-99.2 4 k76192exv99w2.htm EX-99.2 SECTOR STATEMENT OF INCOME exv99w2
 

Exhibit 99.2

Ford Motor Company and Subsidiaries
SECTOR STATEMENT OF INCOME
For the Periods Ended March 31, 2003 and 2002
(in millions, except per share amounts)

                     
        First Quarter  
       
 
        2003     2002  
       
   
 
        (unaudited)  
AUTOMOTIVE
               
Sales
  $ 34,200     $ 32,171  
Costs and expenses
               
Cost of sales
    31,084       29,923  
Selling, administrative and other expenses
    2,313       2,308  
 
 
   
 
 
Total costs and expenses
    33,397       32,231  
 
 
   
 
Operating income/(loss)
    803       (60 )
                 
Interest income
    148       112  
Interest expense
    313       361  
 
 
   
 
 
Net interest income/(expense)
    (165 )     (249 )
Equity in net income/(loss) of affiliated companies
    21       (61 )
 
 
   
 
Income/(loss) before income taxes — Automotive
    659       (370 )
FINANCIAL SERVICES
               
Revenues
    6,688       7,290  
Costs and expenses
               
Interest expense
    1,644       1,988  
Depreciation
    2,567       2,561  
Operating and other expenses
    1,206       1,438  
Provision for credit and insurance losses
    593       960  
 
 
   
 
 
Total costs and expenses
    6,010       6,947  
 
 
   
 
Income/(loss) before income taxes — Financial Services
    678       343  
 
 
   
 
TOTAL COMPANY
               
Income/(loss) before income taxes
    1,337       (27 )
Provision for/(benefit from) for income taxes
    336       (20 )
 
 
   
 
Income/(loss) before minority interests
    1,001       (7 )
Minority interests in net income of subsidiaries
    102       73  
 
 
   
 
Income/(loss) from continuing operations
    899       (80 )
Income/(loss) from discontinued/held-for-sale operations
    (3 )     (12 )
Cumulative effect of change in accounting principle
          (1,002 )
 
 
   
 
Net income/(loss)
  $ 896     $ (1,094 )
 
 
   
 
Income/(loss) attributable to Common and Class B Stock after preferred stock dividends
  $ 896     $ (1,098 )
Average number of shares of Common and Class B Stock outstanding
    1,832       1,807  
AMOUNTS PER SHARE OF COMMON AND CLASS B STOCK
               
Basic income/(loss)
               
   
Income/(loss) from continuing operations
  $ 0.49     $ (0.05 )
   
Income/(loss) from discontinued/held-for-sale operations
          (0.01 )
   
Cumulative effect of change in accounting principle
          (0.55 )
 
 
   
 
   
Net income/(loss)
  $ 0.49     $ (0.61 )
Diluted income/(loss)
               
   
Income/(loss) from continuing operations
  $ 0.45     $ (0.05 )
   
Income/(loss) from discontinued/held-for-sale operations
          (0.01 )
   
Cumulative effect of change in accounting principle
          (0.55 )
 
 
   
 
   
Net income/(loss)
  $ 0.45     $ (0.61 )
                 
Cash dividends
  $ 0.10     $ 0.10