EX-99.2 4 k80087exv99w2.htm EX-99.2 SECTOR STATEMENT OF INCOME EX-99.2 Sector Statement of Income
 

Exhibit 99.2

Ford Motor Company and Subsidiaries
SECTOR STATEMENT OF INCOME
For the Periods Ended September 30, 2003 and 2002
(in millions, except per share amounts)

                                   
      Third Quarter     Nine Months  
     
   
 
      2003     2002     2003     2002  
     
   
   
   
 
      (unaudited)     (unaudited)  
AUTOMOTIVE
                               
Sales
  $ 30,337     $ 32,396     $ 98,719     $ 99,764  
Costs and expenses
                               
Cost of sales
    28,437       30,568       91,205       92,736  
Selling, administrative and other expenses
    2,536       2,467       7,321       7,140  
 
 
   
   
   
 
 
Total costs and expenses
    30,973       33,035       98,526       99,876  
 
 
   
   
   
 
Operating income/(loss)
    (636 )     (639 )     193       (112 )
 
Interest income
    445       378       727       661  
Interest expense
    373       340       915       1,037  
 
 
   
   
   
 
 
Net interest income/(expense)
    72       38       (188 )     (376 )
Equity in net income/(loss) of affiliated companies
    (45 )     (17 )     48       (97 )
 
 
   
   
   
 
Income/(loss) before income taxes — Automotive
    (609 )     (618 )     53       (585 )
FINANCIAL SERVICES
                               
Revenues
    6,551       6,942       19,727       21,242  
Costs and expenses
                               
Interest expense
    1,552       1,868       4,794       5,741  
Depreciation
    2,095       2,530       6,939       7,631  
Operating and other expenses
    1,342       1,180       3,767       3,832  
Provision for credit and insurance losses
    530       792       1,802       2,523  
 
 
   
   
   
 
 
Total costs and expenses
    5,519       6,370       17,302       19,727  
 
 
   
   
   
 
Income/(loss) before income taxes — Financial Services
    1,032       572       2,425       1,515  
 
 
   
   
   
 
TOTAL COMPANY
                               
Income/(loss) before income taxes
    423       (46 )     2,478       930  
Provision for/(benefit from) income taxes
    141       81       672       350  
 
 
   
   
   
 
Income/(loss) before minority interests
    282       (127 )     1,806       580  
Minority interests in net income/(loss) of subsidiaries
    45       117       245       285  
 
 
   
   
   
 
Income/(loss) from continuing operations
    237       (244 )     1,561       295  
Income/(loss) from discontinued/held-for-sale operations
    2       (27 )     (4 )     (48 )
Loss on disposal of discontinued/held-for-sale operations
          (55 )     (5 )     (95 )
Cumulative effect of change in accounting principle
    (264 )           (264 )     (1,002 )
 
 
   
   
   
 
Net income/(loss)
  $ (25 )   $ (326 )   $ 1,288     $ (850 )
 
 
   
   
   
 
Income/(loss) attributable to Common and Class B Stock after Preferred Stock dividends
  $ (25 )   $ (330 )   $ 1,288     $ (861 )
Average number of shares of Common and Class B Stock outstanding
    1,831       1,822       1,832       1,814  
AMOUNTS PER SHARE OF COMMON AND CLASS B STOCK
                               
Basic income/(loss)
                               
 
Income/(loss) from continuing operations
  $ 0.13     $ (0.14 )   $ 0.85     $ 0.16  
 
Income/(loss) from discontinued/held-for-sale operations
          (0.01 )           (0.03 )
 
Loss on disposal of discontinued/held-for-sale operations
          (0.03 )           (0.05 )
 
Cumulative effect of change in accounting principle
    (0.14 )           (0.15 )     (0.55 )
 
 
   
   
   
 
 
Net income/(loss)
  $ (0.01 )   $ (0.18 )   $ 0.70     $ (0.47 )
 
 
   
   
   
 
Diluted income/(loss)
                               
 
Income/(loss) from continuing operations
  $ 0.13     $ (0.14 )   $ 0.81     $ 0.16  
 
Income/(loss) from discontinued/held-for-sale operations
          (0.01 )           (0.03 )
 
Loss on disposal of discontinued/held-for-sale operations
          (0.03 )           (0.05 )
 
Cumulative effect of change in accounting principle
    (0.14 )           (0.13 )     (0.55 )
 
 
   
   
   
 
 
Net income/(loss)
  $ (0.01 )   $ (0.18 )   $ 0.68     $ (0.47 )
 
 
   
   
   
 
Cash dividends
  $ 0.10     $ 0.10     $ 0.30     $ 0.30