Exhibit 99.2
Ford Motor Company and Subsidiaries
SECTOR STATEMENT OF INCOME
For the Periods Ended June 30, 2004 and 2003
(in millions, except per share amounts)
Second Quarter | First Half | |||||||||||||||
2004 | 2003 | 2004 | 2003 | |||||||||||||
(unaudited) | (unaudited) | |||||||||||||||
AUTOMOTIVE | ||||||||||||||||
Sales | $ | 36,719 | $ | 34,142 | $ | 75,563 | $ | 68,301 | ||||||||
Costs and expenses | ||||||||||||||||
Cost of sales | 33,834 | 31,660 | 67,905 | 62,715 | ||||||||||||
Selling, administrative and other expenses | 2,842 | 2,456 | 5,590 | 4,754 | ||||||||||||
Total costs and expenses | 36,676 | 34,116 | 73,495 | 67,469 | ||||||||||||
Operating income/(loss) | 43 | 26 | 2,068 | 832 | ||||||||||||
Interest income | 128 | 134 | 245 | 282 | ||||||||||||
Interest expense | 312 | 229 | 704 | 542 | ||||||||||||
Net interest income/(expense) | (184 | ) | (95 | ) | (459 | ) | (260 | ) | ||||||||
Equity in net income/(loss) of affiliated companies | 84 | 72 | 140 | 93 | ||||||||||||
Income/(loss) before income taxes – Automotive | (57 | ) | 3 | 1,749 | 665 | |||||||||||
FINANCIAL SERVICES | ||||||||||||||||
Revenues | 6,083 | 6,440 | 11,930 | 13,096 | ||||||||||||
Costs and expenses | ||||||||||||||||
Interest expense | 1,422 | 1,598 | 2,872 | 3,242 | ||||||||||||
Depreciation | 1,661 | 2,255 | 3,392 | 4,808 | ||||||||||||
Operating and other expenses | 1,259 | 1,193 | 2,471 | 2,381 | ||||||||||||
Provision for credit and insurance losses | 182 | 679 | 553 | 1,272 | ||||||||||||
Total costs and expenses | 4,524 | 5,725 | 9,288 | 11,703 | ||||||||||||
Income/(loss) before income taxes – Financial Services | 1,559 | 715 | 2,642 | 1,393 | ||||||||||||
TOTAL COMPANY | ||||||||||||||||
Income/(loss) before income taxes | 1,502 | 718 | 4,391 | 2,058 | ||||||||||||
Provision for/(benefit from) income taxes | 268 | 194 | 1,097 | 531 | ||||||||||||
Income/(loss) before minority interests | 1,234 | 524 | 3,294 | 1,527 | ||||||||||||
Minority interests in net income/(loss) of subsidiaries | 72 | 98 | 157 | 200 | ||||||||||||
Income/(loss) from continuing operations | 1,162 | 426 | 3,137 | 1,327 | ||||||||||||
Income/(loss) from discontinued/held-for-sale operations | 3 | (9 | ) | (20 | ) | (14 | ) | |||||||||
Net income/(loss) | $ | 1,165 | $ | 417 | $ | 3,117 | $ | 1,313 | ||||||||
Average number of shares of Common and Class B Stock outstanding | 1,831 | 1,832 | 1,832 | 1,832 | ||||||||||||
AMOUNTS PER SHARE OF COMMON AND CLASS B STOCK | ||||||||||||||||
Basic income/(loss) | ||||||||||||||||
Income/(loss) from continuing operations | $ | 0.64 | $ | 0.23 | $ | 1.72 | $ | 0.72 | ||||||||
Income/(loss) from discontinued/held-for-sale operations | — | — | (0.01 | ) | — | |||||||||||
Net income/(loss) | $ | 0.64 | $ | 0.23 | $ | 1.71 | $ | 0.72 | ||||||||
Diluted income/(loss) | ||||||||||||||||
Income/(loss) from continuing operations | $ | 0.57 | $ | 0.22 | $ | 1.52 | $ | 0.67 | ||||||||
Income/(loss) from discontinued/held-for-sale operations | — | — | (0.01 | ) | — | |||||||||||
Net income/(loss) | $ | 0.57 | $ | 0.22 | $ | 1.51 | $ | 0.67 | ||||||||
Cash dividends | $ | 0.10 | $ | 0.10 | $ | 0.20 | $ | 0.20 |