Condensed Consolidated Balance
Condensed Consolidated Balance Sheet (USD $) | |||||
In Millions, except Per Share data | Sep. 30, 2008
Unaudited | Dec. 31, 2007
| Dec. 31, 2007
Unaudited | Sep. 30, 2007
Unaudited | Dec. 31, 2006
Unaudited |
Assets | |||||
Cash and cash equivalents | $24,894 | $35,283 | $35,283 | $27,437 | $28,896 |
Marketable securities | 16,907 | 5,248 | |||
Loaned securities | 0 | 10,267 | |||
Finance receivables, net | 100,883 | 109,053 | |||
Other receivables, net | 7,529 | 8,210 | |||
Net investment in operating leases | 29,179 | 33,255 | |||
Retained interest in sold receivables | 154 | 653 | |||
Inventories | 12,048 | 10,121 | |||
Equity in net assets of affiliated companies | 3,065 | 2,853 | |||
Net property | 30,253 | 36,239 | |||
Deferred income taxes | 3,032 | 3,500 | |||
Goodwill and other intangible assets | 1,805 | 2,069 | |||
Assets of discontinued/held-for-sale operations | 0 | 7,537 | |||
Other assets | 12,316 | 14,976 | |||
Total assets | 242,065 | 279,264 | |||
Liabilities and Stockholders' Equity | |||||
Payables | 20,358 | 20,832 | |||
Accrued liabilities and deferred revenue | 62,931 | 74,738 | |||
Debt | 156,793 | 168,787 | |||
Deferred income taxes | 2,514 | 3,034 | |||
Liabilities of discontinued/held-for-sale operations | 0 | 4,824 | |||
Total liabilities | 242,596 | 272,215 | |||
Minority interests | 1,458 | 1,421 | |||
Common stock description | Common stock, par value $0.01 per share | Common stock, par value $0.01 per share | |||
Common Stock, par value $0.01 per share | 23 | 21 | |||
Common Stock - Par/Stated Value Per Share | 0.01 | 0.01 | |||
Common Stock - Shares Issued | 2,304 | 2,124 | |||
Class B Stock description | Class B Stock, par value $0.01 per share | Class B Stock, par value $0.01 per share | |||
Class B Stock, par value $0.01 per share | 1 | 1 | |||
Class B Stock - Par/Stated Value Per Share | 0.01 | 0.01 | |||
Class B Stock - Shares Issued | 71 | 71 | |||
Capital in excess of par value of stock | 8,910 | 7,834 | |||
Accumulated other comprehensive income/(loss) | (571) | (558) | |||
Treasury Stock description | Treasury stock | Treasury stock | |||
Treasury stock | 183 | 185 | |||
Retained earnings/(Accumulated deficit) | (10,169) | (1,485) | |||
Total stockholders' equity | (1,989) | 5,628 | |||
Total liabilities and stockholders' equity | $242,065 | $279,264 |
Condensed Consolidated Cash Flo
Condensed Consolidated Cash Flows Statement (USD $) | ||
In Millions | 9 Months Ended
Sep. 30, 2008 Unaudited | 9 Months Ended
Sep. 30, 2007 Unaudited |
Statement of Cash Flows - Direct Method | ||
Net cash (used in)/provided by operating activities | $3,269 | $13,242 |
Cash flows from investing activities of continuing operations | ||
Capital expenditures | (4,875) | (4,215) |
Acquisitions of retail and other finance receivables and operating leases | (36,932) | (42,827) |
Collections of retail and other finance receivables and operating leases | 32,278 | 34,509 |
Purchases of securities | (49,881) | (9,085) |
Sales and maturities of securities | 47,852 | 14,805 |
Settlements of derivatives | 1,753 | 716 |
Proceeds from sales of retail and other finance receivables and operating leases | 0 | 705 |
Proceeds from sale of businesses | 6,293 | 1,236 |
Cash paid for acquisitions | (13) | 0 |
Transfer of cash balances upon disposition of discontinued/held-for-sale operations | (925) | (83) |
Other | 421 | 185 |
Net cash (used in)/provided by investing activities | (4,029) | (4,054) |
Cash flows from financing activities of continuing operations | ||
Sales of Common Stock | 663 | 152 |
Purchases of Common Stock | 0 | (31) |
Changes in short-term debt | (4,422) | (2,558) |
Proceeds from issuance of other debt | 27,565 | 24,018 |
Principal payments on other debt | (32,768) | (32,457) |
Other | (531) | 151 |
Net cash (used in)/provided by financing activities | (9,493) | (10,725) |
Effect of exchange rate changes on cash | (136) | 64 |
Net increase/(decrease) in cash and cash equivalents from continuing operations | (10,389) | (1,473) |
Cash flows from discontinued operations | ||
Cash flows from operating activities of discontinued operations | 0 | 16 |
Cash flows from investing activities of discontinued operations | 0 | 0 |
Cash flows from financing activities of discontinued operations | 0 | 0 |
Net increase/(decrease) in cash and cash equivalents | (10,389) | (1,457) |
Cash and cash equivalents at January 1 | 35,283 | 28,896 |
Cash and cash equivalents of discontinued/held-for-sale operations at January 1 | 0 | (2) |
Net increase/(decrease) in cash and cash equivalents | (10,389) | (1,457) |
Cash and cash equivalents of discontinued/held-for-sale operations at September 30 | 0 | 0 |
Cash and cash equivalents at September 30 | $24,894 | $27,437 |
Consolidated Statement of Incom
Consolidated Statement of Income (Unaudited, USD $) | ||||
In Millions, except Per Share data | 3 Months Ended
Sep. 30, 2008 | 3 Months Ended
Sep. 30, 2007 | 9 Months Ended
Sep. 30, 2008 | 9 Months Ended
Sep. 30, 2007 |
Sales and revenues | ||||
Automotive sales | $27,733 | $36,270 | $103,907 | $115,006 |
Financial Services revenues | 4,312 | 4,808 | 13,178 | 13,333 |
Total sales and revenues | 32,045 | 41,078 | 117,085 | 128,339 |
Costs and expenses | ||||
Automotive cost of sales | 24,999 | 33,238 | 100,450 | 104,135 |
Selling, administrative and other expenses | 4,574 | 4,904 | 16,974 | 15,828 |
Interest expense | 2,382 | 2,733 | 7,339 | 8,210 |
Financial Services provision for credit and insurance losses | 399 | 194 | 1,341 | 374 |
Total costs and expenses | 32,354 | 41,069 | 126,104 | 128,547 |
Automotive interest income and other non-operating income/(expense), net | (244) | (216) | (344) | 672 |
Automotive equity in net income/(loss) of affiliated companies | 13 | 51 | 109 | 262 |
Income/(Loss) before income taxes | (540) | (156) | (9,254) | 726 |
Provision for/(Benefit from) income taxes | (462) | 162 | (811) | 467 |
Income/(Loss) before minority interests | (78) | (318) | (8,443) | 259 |
Minority interests in net income/(loss) of subsidiaries | 51 | 62 | 262 | 205 |
Income/(Loss) from continuing operations | (129) | (380) | (8,705) | 54 |
Income/(Loss) from discontinued operations | 0 | 0 | 9 | 34 |
Net income/(loss) | ($129) | ($380) | ($8,696) | $88 |
Basic income/(loss) | ||||
Income/(Loss) from continuing operations | -0.06 | -0.19 | -3.89 | 0.03 |
Income/(Loss) from discontinued operations | $0 | $0 | $0 | 0.02 |
Net income/(loss) | -0.06 | -0.19 | -3.89 | 0.05 |
Diluted income/(loss) | ||||
Income/(Loss) from continuing operations | -0.06 | -0.19 | -3.89 | 0.03 |
Income/(Loss) from discontinued operations | $0 | $0 | $0 | 0.02 |
Net income/(loss) | -0.06 | -0.19 | -3.89 | 0.05 |