EX-99.3 4 k91160exv99w3.htm CONSOLIDATED STATEMENT OF INCOME exv99w3
 

Exhibit 99.3

Ford Motor Company and Subsidiaries
CONSOLIDATED 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)          
Sales and revenues
                                
Automotive sales
   $ 38,871     $ 39,807     $ 147,134     $ 138,260  
Financial Services revenues
     5,851       6,066       23,705       25,352  
 
                        
Total sales and revenues
     44,722       45,873       170,839       163,612  
 
Costs and expenses
                                
Cost of sales
     37,218       38,626       135,856       129,685  
Selling, administrative and other expenses
     6,261       5,993       23,090       23,668  
Interest expense
     1,635       1,971       7,071       7,643  
Provision for credit and insurance losses
     359       560       1,212       2,248  
 
                        
Total costs and expenses
     45,473       47,150       167,229       163,244  
Automotive interest income and other non-operating income/(expense), net
     480       116       988       897  
Automotive equity in net income/(loss) of affiliated companies
     58       26       255       74  
 
                        
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.