EX-99.2 3 k86881exv99w2.htm SECTOR STATEMENT OF INCOME exv99w2
 

Exhibit 99.2

Ford Motor Company and Subsidiaries
SECTOR STATEMENT OF INCOME
For the Periods Ended June 30, 2004 and 2003
(in millions, except per share amounts)

                                 
    Second Quarter
  First Half
    2004
  2003
  2004
  2003
    (unaudited)   (unaudited)
AUTOMOTIVE
                               
Sales
  $ 36,719     $ 34,142     $ 75,563     $ 68,301  
Costs and expenses
                               
Cost of sales
    33,834       31,660       67,905       62,715  
Selling, administrative and other expenses
    2,842       2,456       5,590       4,754  
 
   
 
     
 
     
 
     
 
 
Total costs and expenses
    36,676       34,116       73,495       67,469  
 
   
 
     
 
     
 
     
 
 
Operating income/(loss)
    43       26       2,068       832  
 
Interest income
    128       134       245       282  
Interest expense
    312       229       704       542  
 
   
 
     
 
     
 
     
 
 
Net interest income/(expense)
    (184 )     (95 )     (459 )     (260 )
Equity in net income/(loss) of affiliated companies
    84       72       140       93  
 
   
 
     
 
     
 
     
 
 
Income/(loss) before income taxes – Automotive
    (57 )     3       1,749       665  
 
FINANCIAL SERVICES
                               
Revenues
    6,083       6,440       11,930       13,096  
Costs and expenses
                               
Interest expense
    1,422       1,598       2,872       3,242  
Depreciation
    1,661       2,255       3,392       4,808  
Operating and other expenses
    1,259       1,193       2,471       2,381  
Provision for credit and insurance losses
    182       679       553       1,272  
 
   
 
     
 
     
 
     
 
 
Total costs and expenses
    4,524       5,725       9,288       11,703  
 
   
 
     
 
     
 
     
 
 
Income/(loss) before income taxes – Financial Services
    1,559       715       2,642       1,393  
 
   
 
     
 
     
 
     
 
 
TOTAL COMPANY
                               
Income/(loss) before income taxes
    1,502       718       4,391       2,058  
Provision for/(benefit from) income taxes
    268       194       1,097       531  
 
   
 
     
 
     
 
     
 
 
Income/(loss) before minority interests
    1,234       524       3,294       1,527  
Minority interests in net income/(loss) of subsidiaries
    72       98       157       200  
 
   
 
     
 
     
 
     
 
 
Income/(loss) from continuing operations
    1,162       426       3,137       1,327  
Income/(loss) from discontinued/held-for-sale operations
    3       (9 )     (20 )     (14 )
 
   
 
     
 
     
 
     
 
 
Net income/(loss)
  $ 1,165     $ 417     $ 3,117     $ 1,313  
 
   
 
     
 
     
 
     
 
 
Average number of shares of Common and Class B Stock outstanding
    1,831       1,832       1,832       1,832  
 
AMOUNTS PER SHARE OF COMMON AND CLASS B STOCK
                               
Basic income/(loss)
                               
Income/(loss) from continuing operations
  $ 0.64     $ 0.23     $ 1.72     $ 0.72  
Income/(loss) from discontinued/held-for-sale operations
                (0.01 )      
 
   
 
     
 
     
 
     
 
 
Net income/(loss)
  $ 0.64     $ 0.23     $ 1.71     $ 0.72  
 
   
 
     
 
     
 
     
 
 
Diluted income/(loss)
                               
Income/(loss) from continuing operations
  $ 0.57     $ 0.22     $ 1.52     $ 0.67  
Income/(loss) from discontinued/held-for-sale operations
                (0.01 )      
 
   
 
     
 
     
 
     
 
 
Net income/(loss)
  $ 0.57     $ 0.22     $ 1.51     $ 0.67  
 
   
 
     
 
     
 
     
 
 
Cash dividends
  $ 0.10     $ 0.10     $ 0.20     $ 0.20