Exhibit 99.3
Ford Motor Company and Subsidiaries
CONSOLIDATED STATEMENT OF INCOME
For the Periods Ended March 31, 2003 and 2002
(in millions, except per share amounts)
First Quarter | ||||||||||
2003 | 2002 | |||||||||
(unaudited) | ||||||||||
Sales and revenues | ||||||||||
Sales | $ | 34,200 | $ | 32,171 | ||||||
Revenues and Automotive interest income | 6,833 | 7,402 | ||||||||
Total sales and revenues | 41,033 | 39,573 | ||||||||
Costs and expenses | ||||||||||
Cost of sales | 31,084 | 29,923 | ||||||||
Selling, administrative and other expenses | 6,086 | 6,309 | ||||||||
Interest expense | 1,957 | 2,349 | ||||||||
Provision for credit and insurance losses | 593 | 960 | ||||||||
Total costs and expenses | 39,720 | 39,541 | ||||||||
Equity in net income/(loss) of affiliated companies | 24 | (59 | ) | |||||||
Income/(loss) before income taxes | 1,337 | (27 | ) | |||||||
Provision for/(benefit from) income taxes | 336 | (20 | ) | |||||||
Income/(loss) before minority interests | 1,001 | (7 | ) | |||||||
Minority interests in net income/(loss) 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 |