Exhibit 99.3
Ford Motor Company and Subsidiaries
CONSOLIDATED 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) | |||||||||||||||||
Sales and revenues | ||||||||||||||||||
Automotive sales | $ | 34,182 | $ | 35,197 | $ | 68,382 | $ | 67,368 | ||||||||||
Financial Services revenue | 6,488 | 7,010 | 13,176 | 14,300 | ||||||||||||||
Total sales and revenues | 40,670 | 42,207 | 81,558 | 81,668 | ||||||||||||||
Automotive interest income | 134 | 171 | 282 | 283 | ||||||||||||||
Costs and expenses | ||||||||||||||||||
Cost of sales | 31,684 | 32,245 | 62,768 | 62,168 | ||||||||||||||
Selling, administrative and other expenses | 5,968 | 6,119 | 12,054 | 12,426 | ||||||||||||||
Interest expense | 1,827 | 2,221 | 3,784 | 4,570 | ||||||||||||||
Provision for credit and insurance losses | 679 | 771 | 1,272 | 1,731 | ||||||||||||||
Total costs and expenses | 40,158 | 41,356 | 79,878 | 80,895 | ||||||||||||||
Automotive equity in net income/(loss) of affiliated companies | 72 | (19 | ) | 93 | (80 | ) | ||||||||||||
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/(loss) 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 |