Exhibit 99.3
Ford Motor Company and Subsidiaries
CONSOLIDATED STATEMENT OF INCOME
For the Periods Ended March 31, 2004 and 2003
(in millions, except per share amounts)
First Quarter | ||||||||
2004 | 2003 | |||||||
(unaudited) | ||||||||
Sales and revenues | ||||||||
Automotive sales | $ | 38,844 | $ | 34,159 | ||||
Financial Services revenue | 5,847 | 6,656 | ||||||
Total sales and revenues | 44,691 | 40,815 | ||||||
Automotive interest income | 117 | 148 | ||||||
Costs and expenses | ||||||||
Cost of sales | 34,071 | 31,055 | ||||||
Selling, administrative and other expenses | 5,691 | 6,039 | ||||||
Interest expense | 1,842 | 1,957 | ||||||
Provision for credit and insurance losses | 371 | 593 | ||||||
Total costs and expenses | 41,975 | 39,644 | ||||||
Automotive equity in net income/(loss) of affiliated companies | 56 | 21 | ||||||
Income/(loss) before income taxes | 2,889 | 1,340 | ||||||
Provision for/(benefit from) income taxes | 829 | 337 | ||||||
Income/(loss) before minority interests | 2,060 | 1,003 | ||||||
Minority interests in net income/(loss) of subsidiaries | 85 | 102 | ||||||
Income/(loss) from continuing operations | 1,975 | 901 | ||||||
Income/(loss) from discontinued/held-for-sale operations | (23 | ) | (5 | ) | ||||
Net income/(loss) | $ | 1,952 | $ | 896 | ||||
Income/(loss) attributable to Common and Class B Stock after Preferred Stock dividends | $ | 1,952 | $ | 896 | ||||
Average number of shares of Common and Class B Stock outstanding | 1,832 | 1,832 | ||||||
AMOUNTS PER SHARE OF COMMON AND CLASS B STOCK | ||||||||
Basic income/(loss) | ||||||||
Income/(loss) from continuing operations | $ | 1.08 | $ | 0.49 | ||||
Income/(loss) from discontinued/held-for-sale operations | (0.01 | ) | — | |||||
Net income/(loss) | $ | 1.07 | $ | 0.49 | ||||
Diluted income/(loss) | ||||||||
Income/(loss) from continuing operations | $ | 0.95 | $ | 0.45 | ||||
Income/(loss) from discontinued/held-for-sale operations | (0.01 | ) | — | |||||
Net income/(loss) | $ | 0.94 | $ | 0.45 | ||||
Cash dividends | $ | 0.10 | $ | 0.10 |