Exhibit 99.2
Ford Motor Company and Subsidiaries
SECTOR STATEMENT OF INCOME
For the Periods Ended June 30, 2003 and 2002
(in millions, except per share amounts)
Second Quarter | First Half | |||||||||||||||||
2003 | 2002 | 2003 | 2002 | |||||||||||||||
(unaudited) | (unaudited) | |||||||||||||||||
AUTOMOTIVE | ||||||||||||||||||
Sales | $ | 34,182 | $ | 35,197 | $ | 68,382 | $ | 67,368 | ||||||||||
Costs and expenses | ||||||||||||||||||
Cost of sales | 31,684 | 32,245 | 62,768 | 62,168 | ||||||||||||||
Selling, administrative and other expenses | 2,472 | 2,365 | 4,785 | 4,673 | ||||||||||||||
Total costs and expenses | 34,156 | 34,610 | 67,553 | 66,841 | ||||||||||||||
Operating income/(loss) | 26 | 587 | 829 | 527 | ||||||||||||||
Interest income | 134 | 171 | 282 | 283 | ||||||||||||||
Interest expense | 229 | 336 | 542 | 697 | ||||||||||||||
Net interest income/(expense) | (95 | ) | (165 | ) | (260 | ) | (414 | ) | ||||||||||
Equity in net income/(loss) of affiliated companies | 72 | (19 | ) | 93 | (80 | ) | ||||||||||||
Income/(loss) before income taxes — Automotive | 3 | 403 | 662 | 33 | ||||||||||||||
FINANCIAL SERVICES | ||||||||||||||||||
Revenues | 6,488 | 7,010 | 13,176 | 14,300 | ||||||||||||||
Costs and expenses | ||||||||||||||||||
Interest expense | 1,598 | 1,885 | 3,242 | 3,873 | ||||||||||||||
Depreciation | 2,277 | 2,540 | 4,844 | 5,101 | ||||||||||||||
Operating and other expenses | 1,219 | 1,214 | 2,425 | 2,652 | ||||||||||||||
Provision for credit and insurance losses | 679 | 771 | 1,272 | 1,731 | ||||||||||||||
Total costs and expenses | 5,773 | 6,410 | 11,783 | 13,357 | ||||||||||||||
Income/(loss) before income taxes — Financial Services | 715 | 600 | 1,393 | 943 | ||||||||||||||
TOTAL COMPANY | ||||||||||||||||||
Income/(loss) before income taxes | 718 | 1,003 | 2,055 | 976 | ||||||||||||||
Provision for/(benefit from) income taxes | 195 | 289 | 531 | 269 | ||||||||||||||
Income/(loss) before minority interests | 523 | 714 | 1,524 | 707 | ||||||||||||||
Minority interests in net income of subsidiaries | 98 | 95 | 200 | 168 | ||||||||||||||
Income/(loss) from continuing operations | 425 | 619 | 1,324 | 539 | ||||||||||||||
Income/(loss) from discontinued/held-for-sale operations | (3 | ) | (9 | ) | (6 | ) | (21 | ) | ||||||||||
Loss on disposal of discontinued/held-for-sale operations | (5 | ) | (40 | ) | (5 | ) | (40 | ) | ||||||||||
Cumulative effect of change in accounting principle | — | — | — | (1,002 | ) | |||||||||||||
Net income/(loss) | $ | 417 | $ | 570 | $ | 1,313 | $ | (524 | ) | |||||||||
Income/(loss) attributable to Common and Class B Stock after Preferred Stock dividends | $ | 417 | $ | 567 | $ | 1,313 | $ | (531 | ) | |||||||||
Average number of shares of Common and Class B Stock outstanding | 1,832 | 1,813 | 1,832 | 1,810 | ||||||||||||||
AMOUNTS PER SHARE OF COMMON AND CLASS B STOCK | ||||||||||||||||||
Basic income/(loss) | ||||||||||||||||||
Income/(loss) from continuing operations | $ | 0.23 | $ | 0.34 | $ | 0.72 | $ | 0.29 | ||||||||||
Income/(loss) from discontinued/held-for-sale operations | — | (0.01 | ) | — | (0.01 | ) | ||||||||||||
Loss on disposal of discontinued/held-for-sale operations | — | (0.02 | ) | — | (0.02 | ) | ||||||||||||
Cumulative effect of change in accounting principle | — | — | — | (0.55 | ) | |||||||||||||
Net income/(loss) | $ | 0.23 | $ | 0.31 | $ | 0.72 | $ | (0.29 | ) | |||||||||
Diluted income/(loss) | ||||||||||||||||||
Income/(loss) from continuing operations | $ | 0.22 | $ | 0.31 | $ | 0.67 | $ | 0.29 | ||||||||||
Income/(loss) from discontinued/held-for-sale operations | — | — | — | (0.01 | ) | |||||||||||||
Loss on disposal of discontinued/held-for-sale operations | — | (0.02 | ) | — | (0.02 | ) | ||||||||||||
Cumulative effect of change in accounting principle | — | — | — | (0.55 | ) | |||||||||||||
Net income/(loss) | $ | 0.22 | $ | 0.29 | $ | 0.67 | $ | (0.29 | ) | |||||||||
Cash dividends | $ | 0.10 | $ | 0.10 | $ | 0.20 | $ | 0.20 |