EX-99.3 4 k88887exv99w3.htm CONSOLIDATED STATEMENT OF INCOME exv99w3
 

Exhibit 99.3

Ford Motor Company and Subsidiaries
CONSOLIDATED 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)
Sales and revenues
                                
Automotive sales
   $ 32,798     $ 30,243     $ 108,262     $ 98,453  
Financial Services revenues
     6,198       6,499       18,128       19,595  
 
    
 		      
 		      
 		      
 		  
Total sales and revenues
     38,996       36,742       126,390       118,048  
Costs and expenses
                                
Cost of sales
     30,957       28,381       98,637       91,059  
Selling, administrative and other expenses
     5,521       5,901       16,959       17,837  
Interest expense
     1,867       1,914       5,436       5,672  
Provision for credit and insurance losses
     339       529       892       1,801  
 
    
 		      
 		      
 		      
 		  
Total costs and expenses
     38,684       36,725       121,924       116,369  
Automotive interest income and other non-operating income/(expense), net
     383       455       508       781  
Automotive equity in net income/(loss) of affiliated companies
     57       (45 )     197       48  
 
    
 		      
 		      
 		      
 		  
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