EX-99.2 3 k88887exv99w2.htm SECTOR STATEMENT OF INCOME exv99w2
 

Exhibit 99.2

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

                                 
    Third Quarter
  Nine Months
    2004
  2003
  2004
  2003
    (unaudited)   (unaudited)
AUTOMOTIVE
                               
Sales
  $ 32,798     $ 30,243     $ 108,262     $ 98,453  
Costs and expenses
                               
Cost of sales
    30,957       28,381       98,637       91,059  
Selling, administrative and other expenses
    2,557       2,514       8,132       7,261  
 
   
 
     
 
     
 
     
 
 
Total costs and expenses
    33,514       30,895       106,769       98,320  
 
   
 
     
 
     
 
     
 
 
Operating income/(loss)
    (716 )     (652 )     1,493       133  
 
Interest expense
    397       362       1,094       878  
 
Interest income and other non-operating income/(expense), net
    383       455       508       781  
Equity in net income/(loss) of affiliated companies
    57       (45 )     197       48  
 
   
 
     
 
     
 
     
 
 
Income/(loss) before income taxes — Automotive
    (673 )     (604 )     1,104       84  
 
FINANCIAL SERVICES
                               
Revenues
    6,198       6,499       18,128       19,595  
Costs and expenses
                               
Interest expense
    1,470       1,552       4,342       4,794  
Depreciation
    1,570       2,072       4,962       6,880  
Operating and other expenses
    1,394       1,315       3,865       3,696  
Provision for credit and insurance losses
    339       529       892       1,801  
 
   
 
     
 
     
 
     
 
 
Total costs and expenses
    4,773       5,468       14,061       17,171  
 
   
 
     
 
     
 
     
 
 
Income/(loss) before income taxes — Financial Services
    1,425       1,031       4,067       2,424  
 
   
 
     
 
     
 
     
 
 
TOTAL COMPANY
                               
Income/(loss) before income taxes
    752       427       5,171       2,508  
Provision for/(benefit from) income taxes
    210       140       1,317       679  
 
   
 
     
 
     
 
     
 
 
Income/(loss) before minority interests
    542       287       3,854       1,829  
Minority interests in net income/(loss) of subsidiaries
    62       45       219       245  
 
   
 
     
 
     
 
     
 
 
Income/(loss) from continuing operations
    480       242       3,635       1,584  
Income/(loss) from discontinued/held-for-sale operations
    (214 )     (3 )     (252 )     (32 )
Cumulative effect of change in accounting principle
          (264 )           (264 )
 
   
 
     
 
     
 
     
 
 
Net income/(loss)
  $ 266     $ (25 )   $ 3,383     $ 1,288  
 
   
 
     
 
     
 
     
 
 
Average number of shares of Common and Class B Stock outstanding
    1,829       1,831       1,831       1,832  
 
 
AMOUNTS PER SHARE OF COMMON AND CLASS B STOCK
                               
Basic income/(loss)
                               
Income/(loss) from continuing operations
  $ 0.26     $ 0.13     $ 1.99     $ 0.87  
Income/(loss) from discontinued/held-for-sale operations
    (0.11 )           (0.14 )     (0.02 )
Cumulative effect of change in accounting principle
          (0.14 )           (0.15 )
 
   
 
     
 
     
 
     
 
 
Net income/(loss)
  $ 0.15     $ (0.01 )   $ 1.85     $ 0.70  
 
   
 
     
 
     
 
     
 
 
Diluted income/(loss)
                               
Income/(loss) from continuing operations
  $ 0.25     $ 0.13     $ 1.78     $ 0.82  
Income/(loss) from discontinued/held-for-sale operations
    (0.10 )           (0.12 )     (0.01 )
Cumulative effect of change in accounting principle
          (0.14 )           (0.13 )
 
   
 
     
 
     
 
     
 
 
Net income/(loss)
  $ 0.15     $ (0.01 )   $ 1.66     $ 0.68  
 
   
 
     
 
     
 
     
 
 
Cash dividends
  $ 0.10     $ 0.10     $ 0.30     $ 0.30