Exhibit 99.3
Ford Motor Company and Subsidiaries
CONSOLIDATED 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) | |||||||||||||||
Sales and revenues | ||||||||||||||||
Automotive sales | $ | 36,719 | $ | 34,142 | $ | 75,563 | $ | 68,301 | ||||||||
Financial Services revenue | 6,083 | 6,440 | 11,930 | 13,096 | ||||||||||||
Total sales and revenues | 42,802 | 40,582 | 87,493 | 81,397 | ||||||||||||
Automotive interest income | 128 | 134 | 245 | 282 | ||||||||||||
Costs and expenses | ||||||||||||||||
Cost of sales | 33,834 | 31,660 | 67,905 | 62,715 | ||||||||||||
Selling, administrative and other expenses | 5,762 | 5,904 | 11,453 | 11,943 | ||||||||||||
Interest expense | 1,734 | 1,827 | 3,576 | 3,784 | ||||||||||||
Provision for credit and insurance losses | 182 | 679 | 553 | 1,272 | ||||||||||||
Total costs and expenses | 41,512 | 40,070 | 83,487 | 79,714 | ||||||||||||
Automotive equity in net income/(loss) of affiliated companies | 84 | 72 | 140 | 93 | ||||||||||||
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 |