Exhibit 99.2
Ford Motor Company and Subsidiaries
SECTOR STATEMENT OF INCOME
For the Periods Ended March 31, 2003 and 2002
(in millions, except per share amounts)
First Quarter | ||||||||||
2003 | 2002 | |||||||||
(unaudited) | ||||||||||
AUTOMOTIVE | ||||||||||
Sales | $ | 34,200 | $ | 32,171 | ||||||
Costs and expenses | ||||||||||
Cost of sales | 31,084 | 29,923 | ||||||||
Selling, administrative and other expenses | 2,313 | 2,308 | ||||||||
Total costs and expenses | 33,397 | 32,231 | ||||||||
Operating income/(loss) | 803 | (60 | ) | |||||||
Interest income | 148 | 112 | ||||||||
Interest expense | 313 | 361 | ||||||||
Net interest income/(expense) | (165 | ) | (249 | ) | ||||||
Equity in net income/(loss) of affiliated companies | 21 | (61 | ) | |||||||
Income/(loss) before income taxes — Automotive | 659 | (370 | ) | |||||||
FINANCIAL SERVICES | ||||||||||
Revenues | 6,688 | 7,290 | ||||||||
Costs and expenses | ||||||||||
Interest expense | 1,644 | 1,988 | ||||||||
Depreciation | 2,567 | 2,561 | ||||||||
Operating and other expenses | 1,206 | 1,438 | ||||||||
Provision for credit and insurance losses | 593 | 960 | ||||||||
Total costs and expenses | 6,010 | 6,947 | ||||||||
Income/(loss) before income taxes — Financial Services | 678 | 343 | ||||||||
TOTAL COMPANY | ||||||||||
Income/(loss) before income taxes | 1,337 | (27 | ) | |||||||
Provision for/(benefit from) for income taxes | 336 | (20 | ) | |||||||
Income/(loss) before minority interests | 1,001 | (7 | ) | |||||||
Minority interests in net income of subsidiaries | 102 | 73 | ||||||||
Income/(loss) from continuing operations | 899 | (80 | ) | |||||||
Income/(loss) from discontinued/held-for-sale operations | (3 | ) | (12 | ) | ||||||
Cumulative effect of change in accounting principle | — | (1,002 | ) | |||||||
Net income/(loss) | $ | 896 | $ | (1,094 | ) | |||||
Income/(loss) attributable to Common and Class B Stock after preferred stock dividends | $ | 896 | $ | (1,098 | ) | |||||
Average number of shares of Common and Class B Stock outstanding | 1,832 | 1,807 | ||||||||
AMOUNTS PER SHARE OF COMMON AND CLASS B STOCK | ||||||||||
Basic income/(loss) | ||||||||||
Income/(loss) from continuing operations | $ | 0.49 | $ | (0.05 | ) | |||||
Income/(loss) from discontinued/held-for-sale operations | — | (0.01 | ) | |||||||
Cumulative effect of change in accounting principle | — | (0.55 | ) | |||||||
Net income/(loss) | $ | 0.49 | $ | (0.61 | ) | |||||
Diluted income/(loss) | ||||||||||
Income/(loss) from continuing operations | $ | 0.45 | $ | (0.05 | ) | |||||
Income/(loss) from discontinued/held-for-sale operations | — | (0.01 | ) | |||||||
Cumulative effect of change in accounting principle | — | (0.55 | ) | |||||||
Net income/(loss) | $ | 0.45 | $ | (0.61 | ) | |||||
Cash dividends | $ | 0.10 | $ | 0.10 |