Ford 2013 Annual Report Download - page 69
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Ford Motor Company | 2013 Annual Report 67
FORD MOTOR COMPANY AND SUBSIDIARIES
SECTOR INCOME STATEMENT
(in millions)
For the years ended December 31,
2013 2012 2011
AUTOMOTIVE
Revenues $ 139,369 $ 126,567 $128,168
Costs and expenses
Cost of sales 125,234 112,992 113,611
Selling, administrative, and other expenses 9,997 9,006 9,060
Total costs and expenses 135,231 121,998 122,671
Interest expense 829 713 817
Interest income and other income/(loss), net (Note 19) 974 1,599 1,091
Equity in net income of affiliated companies 1,046 555 479
Income before income taxes — Automotive 5,329 6,010 6,250
FINANCIAL SERVICES
Revenues 7,548 6,992 7,437
Costs and expenses
Interest expense 2,860 3,115 3,614
Depreciation on vehicles subject to operating leases (Note 7) 2,411 1,795 1,140
Operating and other expenses 768 693 684
Provision for credit and insurance losses 208 77 (36)
Total costs and expenses 6,247 5,680 5,402
Other income/(loss), net (Note 19) 348 365 375
Equity in net income of affiliated companies 23 33 21
Income before income taxes — Financial Services 1,672 1,710 2,431
TOTAL COMPANY
Income before income taxes 7,001 7,720 8,681
Provision for/(Benefit from) income taxes (Note 22) (147)2,056 (11,541)
Net income 7,148 5,664 20,222
Less: Income/(Loss) attributable to noncontrolling interests (7) (1) 9
Net income attributable to Ford Motor Company $7,155 $5,665 $ 20,213
The accompanying notes are part of the financial statements.
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