Exhibit 99.2
Ford Motor Company and Subsidiaries
SECTOR STATEMENT OF INCOME
For the Periods Ended December 31, 2004 and 2003
(in millions, except per share amounts)
Fourth Quarter | Full Year | |||||||||||||||
2004 | 2003 | 2004 | 2003 | |||||||||||||
(unaudited) | (unaudited) | |||||||||||||||
AUTOMOTIVE | ||||||||||||||||
Sales | $ | 38,871 | $ | 39,807 | $ | 147,134 | $ | 138,260 | ||||||||
Costs and expenses | ||||||||||||||||
Cost of sales | 37,218 | 38,626 | 135,856 | 129,685 | ||||||||||||
Selling, administrative and other expenses | 3,323 | 2,870 | 11,455 | 10,131 | ||||||||||||
Total costs and expenses | 40,541 | 41,496 | 147,311 | 139,816 | ||||||||||||
Operating income/(loss) | (1,670 | ) | (1,689 | ) | (177 | ) | (1,556 | ) | ||||||||
Interest expense | 127 | 445 | 1,221 | 1,323 | ||||||||||||
Interest income and other non-operating income/(expense), net | 480 | 116 | 988 | 897 | ||||||||||||
Equity in net income/(loss) of affiliated companies | 58 | 26 | 255 | 74 | ||||||||||||
Income/(loss) before income taxes — Automotive | (1,259 | ) | (1,992 | ) | (155 | ) | (1,908 | ) | ||||||||
FINANCIAL SERVICES | ||||||||||||||||
Revenues | 5,851 | 6,066 | 23,705 | 25,352 | ||||||||||||
Costs and expenses | ||||||||||||||||
Interest expense | 1,508 | 1,526 | 5,850 | 6,320 | ||||||||||||
Depreciation | 1,662 | 1,898 | 6,618 | 8,771 | ||||||||||||
Operating and other expenses | 1,276 | 1,225 | 5,017 | 4,766 | ||||||||||||
Provision for credit and insurance losses | 359 | 560 | 1,212 | 2,248 | ||||||||||||
Total costs and expenses | 4,805 | 5,209 | 18,697 | 22,105 | ||||||||||||
Income/(loss) before income taxes — Financial Services | 1,046 | 857 | 5,008 | 3,247 | ||||||||||||
TOTAL COMPANY | ||||||||||||||||
Income/(loss) before income taxes | (213 | ) | (1,135 | ) | 4,853 | 1,339 | ||||||||||
Provision for/(benefit from) income taxes | (340 | ) | (544 | ) | 937 | 123 | ||||||||||
Income/(loss) before minority interests | 127 | (591 | ) | 3,916 | 1,216 | |||||||||||
Minority interests in net income/(loss) of subsidiaries | 63 | 69 | 282 | 314 | ||||||||||||
Income/(loss) from continuing operations | 64 | (660 | ) | 3,634 | 902 | |||||||||||
Income/(loss) from discontinued operations | 40 | (133 | ) | (147 | ) | (143 | ) | |||||||||
Cumulative effect of change in accounting principle | — | — | — | (264 | ) | |||||||||||
Net income/(loss) | $ | 104 | $ | (793 | ) | $ | 3,487 | $ | 495 | |||||||
Average number of shares of Common and Class B | ||||||||||||||||
Stock outstanding | 1,829 | 1,833 | 1,830 | 1,832 | ||||||||||||
AMOUNTS PER SHARE OF COMMON AND CLASS B STOCK | ||||||||||||||||
Basic income/(loss) | ||||||||||||||||
Income/(loss) from continuing operations | $ | 0.04 | $ | (0.36 | ) | $ | 1.99 | $ | 0.49 | |||||||
Income/(loss) from discontinued operations | 0.02 | (0.07 | ) | (0.08 | ) | (0.08 | ) | |||||||||
Cumulative effect of change in accounting principle | — | — | — | (0.14 | ) | |||||||||||
Net income/(loss) | $ | 0.06 | $ | (0.43 | ) | $ | 1.91 | $ | 0.27 | |||||||
Diluted income/(loss) | ||||||||||||||||
Income/(loss) from continuing operations | $ | 0.03 | $ | (0.36 | ) | $ | 1.80 | $ | 0.49 | |||||||
Income/(loss) from discontinued operations | 0.03 | (0.07 | ) | (0.07 | ) | (0.08 | ) | |||||||||
Cumulative effect of change in accounting principle | — | — | — | (0.14 | ) | |||||||||||
Net income/(loss) | $ | 0.06 | $ | (0.43 | ) | $ | 1.73 | $ | 0.27 | |||||||
Cash dividends | $ | 0.10 | $ | 0.10 | $ | 0.40 | $ | 0.40 |
Certain amounts in prior year’s financial statements have been reclassified to conform with current year presentation.