EX-99.3 4 k86881exv99w3.htm CONSOLIDATED STATEMENT OF INCOME exv99w3
 

Exhibit 99.3

Ford Motor Company and Subsidiaries
CONSOLIDATED 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)
Sales and revenues
                               
Automotive sales
  $ 36,719     $ 34,142     $ 75,563     $ 68,301  
Financial Services revenue
    6,083       6,440       11,930       13,096  
 
   
 
     
 
     
 
     
 
 
Total sales and revenues
    42,802       40,582       87,493       81,397  
Automotive interest income
    128       134       245       282  
Costs and expenses
                               
Cost of sales
    33,834       31,660       67,905       62,715  
Selling, administrative and other expenses
    5,762       5,904       11,453       11,943  
Interest expense
    1,734       1,827       3,576       3,784  
Provision for credit and insurance losses
    182       679       553       1,272  
 
   
 
     
 
     
 
     
 
 
Total costs and expenses
    41,512       40,070       83,487       79,714  
Automotive equity in net income/(loss) of affiliated companies
    84       72       140       93  
 
   
 
     
 
     
 
     
 
 
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