EX-99.3 5 k80087exv99w3.htm EX-99.3 CONSOLIDATED STATEMENT OF INCOME EX-99.3 Consolidated Statement of Income
 

Exhibit 99.3

Ford Motor Company and Subsidiaries
CONSOLIDATED 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)  
Sales and revenues
                               
Automotive sales
  $ 30,337     $ 32,396     $ 98,719     $ 99,764  
Financial Services revenue
    6,551       6,942       19,727       21,242  
 
 
   
   
   
 
 
Total sales and revenues
    36,888       39,338       118,446       121,006  
Automotive interest income
    445       378       727       661  
Costs and expenses
                               
Cost of sales
    28,437       30,568       91,205       92,736  
Selling, administrative and other expenses
    5,973       6,177       18,027       18,603  
Interest expense
    1,925       2,208       5,709       6,778  
Provision for credit and insurance losses
    530       792       1,802       2,523  
 
 
   
   
   
 
 
Total costs and expenses
    36,865       39,745       116,743       120,640  
Automotive equity in net income/(loss)
of affiliated companies
    (45 )     (17 )     48       (97 )
 
 
   
   
   
 
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