Exhibit 99.2
Ford Motor Company and Subsidiaries
SECTOR STATEMENT OF INCOME
For the Periods Ended September 30, 2003 and 2002
(in millions, except per share amounts)
Third Quarter | Nine Months | ||||||||||||||||
2003 | 2002 | 2003 | 2002 | ||||||||||||||
(unaudited) | (unaudited) | ||||||||||||||||
AUTOMOTIVE | |||||||||||||||||
Sales | $ | 30,337 | $ | 32,396 | $ | 98,719 | $ | 99,764 | |||||||||
Costs and expenses | |||||||||||||||||
Cost of sales | 28,437 | 30,568 | 91,205 | 92,736 | |||||||||||||
Selling, administrative and other expenses | 2,536 | 2,467 | 7,321 | 7,140 | |||||||||||||
Total costs and expenses | 30,973 | 33,035 | 98,526 | 99,876 | |||||||||||||
Operating income/(loss) | (636 | ) | (639 | ) | 193 | (112 | ) | ||||||||||
Interest income | 445 | 378 | 727 | 661 | |||||||||||||
Interest expense | 373 | 340 | 915 | 1,037 | |||||||||||||
Net interest income/(expense) | 72 | 38 | (188 | ) | (376 | ) | |||||||||||
Equity in net income/(loss) of affiliated companies | (45 | ) | (17 | ) | 48 | (97 | ) | ||||||||||
Income/(loss) before income taxes — Automotive | (609 | ) | (618 | ) | 53 | (585 | ) | ||||||||||
FINANCIAL SERVICES | |||||||||||||||||
Revenues | 6,551 | 6,942 | 19,727 | 21,242 | |||||||||||||
Costs and expenses | |||||||||||||||||
Interest expense | 1,552 | 1,868 | 4,794 | 5,741 | |||||||||||||
Depreciation | 2,095 | 2,530 | 6,939 | 7,631 | |||||||||||||
Operating and other expenses | 1,342 | 1,180 | 3,767 | 3,832 | |||||||||||||
Provision for credit and insurance losses | 530 | 792 | 1,802 | 2,523 | |||||||||||||
Total costs and expenses | 5,519 | 6,370 | 17,302 | 19,727 | |||||||||||||
Income/(loss) before income taxes — Financial Services | 1,032 | 572 | 2,425 | 1,515 | |||||||||||||
TOTAL COMPANY | |||||||||||||||||
Income/(loss) before income taxes | 423 | (46 | ) | 2,478 | 930 | ||||||||||||
Provision for/(benefit from) income taxes | 141 | 81 | 672 | 350 | |||||||||||||
Income/(loss) before minority interests | 282 | (127 | ) | 1,806 | 580 | ||||||||||||
Minority interests in net income/(loss) of subsidiaries | 45 | 117 | 245 | 285 | |||||||||||||
Income/(loss) from continuing operations | 237 | (244 | ) | 1,561 | 295 | ||||||||||||
Income/(loss) from discontinued/held-for-sale operations | 2 | (27 | ) | (4 | ) | (48 | ) | ||||||||||
Loss on disposal of discontinued/held-for-sale operations | — | (55 | ) | (5 | ) | (95 | ) | ||||||||||
Cumulative effect of change in accounting principle | (264 | ) | — | (264 | ) | (1,002 | ) | ||||||||||
Net income/(loss) | $ | (25 | ) | $ | (326 | ) | $ | 1,288 | $ | (850 | ) | ||||||
Income/(loss) attributable to Common and Class B Stock after Preferred Stock dividends | $ | (25 | ) | $ | (330 | ) | $ | 1,288 | $ | (861 | ) | ||||||
Average number of shares of Common and Class B Stock outstanding | 1,831 | 1,822 | 1,832 | 1,814 | |||||||||||||
AMOUNTS PER SHARE OF COMMON AND CLASS B STOCK | |||||||||||||||||
Basic income/(loss) | |||||||||||||||||
Income/(loss) from continuing operations | $ | 0.13 | $ | (0.14 | ) | $ | 0.85 | $ | 0.16 | ||||||||
Income/(loss) from discontinued/held-for-sale operations | — | (0.01 | ) | — | (0.03 | ) | |||||||||||
Loss on disposal of discontinued/held-for-sale operations | — | (0.03 | ) | — | (0.05 | ) | |||||||||||
Cumulative effect of change in accounting principle | (0.14 | ) | — | (0.15 | ) | (0.55 | ) | ||||||||||
Net income/(loss) | $ | (0.01 | ) | $ | (0.18 | ) | $ | 0.70 | $ | (0.47 | ) | ||||||
Diluted income/(loss) | |||||||||||||||||
Income/(loss) from continuing operations | $ | 0.13 | $ | (0.14 | ) | $ | 0.81 | $ | 0.16 | ||||||||
Income/(loss) from discontinued/held-for-sale operations | — | (0.01 | ) | — | (0.03 | ) | |||||||||||
Loss on disposal of discontinued/held-for-sale operations | — | (0.03 | ) | — | (0.05 | ) | |||||||||||
Cumulative effect of change in accounting principle | (0.14 | ) | — | (0.13 | ) | (0.55 | ) | ||||||||||
Net income/(loss) | $ | (0.01 | ) | $ | (0.18 | ) | $ | 0.68 | $ | (0.47 | ) | ||||||
Cash dividends | $ | 0.10 | $ | 0.10 | $ | 0.30 | $ | 0.30 |