Ford Motor Company and Subsidiaries PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF INCOME For the Period Ended March 31, 1998 (Unaudited) (mils) Pro Forma Historical Adjustments Pro Forma Balances Associates Results ------------ ----------- ----------- AUTOMOTIVE Sales $ 29,076 $ 29,076 Costs and expenses Costs of sales 25,584 25,584 Selling, administrative, and other expenses 1,686 1,686 ----------- ----------- ----------- Total costs and expenses 27,270 - 27,270 Operating income 1,806 1,806 Interest income 322 322 Interest expense 199 199 ----------- ----------- ----------- Net interest income 123 - 123 Equity in net loss of affiliated companies (10) (10) Net expense from transactions with Financial Services (48) (48) ----------- ----------- ----------- Income before income taxes - Automotive 1,871 - 1,871 FINANCIAL SERVICES Revenues $ 7,508 $ (1,750) $ 5,758 Costs and expenses Interest expense 2,370 (598) 1,772 Depreciation 2,037 (17) 2,020 Operating and other expenses 1,583 (508) 1,075 Provision for credit and insurance losses 708 (278) 430 ----------- ----------- ----------- Total costs and expenses 6,698 (1,401) 5,297 Net revenue from transactions with Automotive 48 - 48 Gain on spin-off of The Associates 15,955 (15,955) - ----------- ----------- ----------- Income before income taxes - Financial Services 16,813 (16,304) 509 ----------- ----------- ----------- TOTAL COMPANY Income before income taxes 18,684 (16,304) 2,380 Provision for income taxes 972 (129) 843 ----------- ----------- ----------- Income before minority interests 17,712 (16,175) 1,537 Minority interests in net income of subsidiaries 66 (43) 23 ----------- ----------- ----------- Net income $ 17,646 $(16,132) $ 1,514 =========== =========== =========== Income attributable to Common and Class B Stock after preferred stock dividends $ 17,551 $(16,132) $ 1,419 Average number of shares of Common and Class B Stock outstanding 1,210 - 1,210 AMOUNTS PER SHARE OF COMMON AND CLASS B STOCK Basic income $ 14.48 $ (13.31) $ 1.17 Diluted income $ 14.23 $ (13.08) $ 1.15