Ford 2002 Annual Report Download - page 62

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58
SECTOR STATEMENT OF INCOME
2002 2001 2000
AUTOMOTIVE
Sales (Note 1) $ 134,425 $ 130,827 $ 140,777
Costs and expenses (Note 1)
Costs of sales 125,137 128,417 125,651
Selling, administrative and other expenses 9,819 9,805 9,838
Total costs and expenses 134,956 138,222 135,489
Operating income/(loss) (531) (7,395) 5,288
Interest income 834 765 1,488
Interest expense 1,368 1,376 1,383
Net interest income/(expense) (534) (611) 105
Equity in net income/(loss) of affiliated companies (91) (856) (70)
Income/(loss) before income taxes — Automotive (1,156) (8,862) 5,323
FINANCIAL SERVICES
Revenues (Note 1) 28,161 29,927 28,314
Costs and expenses (Note 1)
Interest expense 7,456 9,441 9,477
Depreciation 10,240 10,164 9,059
Operating and other expenses 5,080 5,221 4,845
Provision for credit and insurance losses 3,276 3,661 1,957
Total costs and expenses 26,052 28,487 25,338
Income/(loss) before income taxes — Financial Services 2,109 1,440 2,976
TOTAL COMPANY
Income/(loss) before income taxes 953 (7,422) 8,299
Provision for/(benefit from) income taxes (Note 2) 302 (2,097) 2,720
Income/(loss) before minority interests 651 (5,325) 5,579
Minority interests in net income/(loss) of subsidiaries 367 24 123
Income/(loss) from continuing operations 284 (5,349) 5,456
Income/(loss) from discontinued/held-for-sale operations (Note 3) (63) (104) 263
Loss on disposal of discontinued/held-for-sale operations (Note 3) (199) - (2,252)
Cumulative effect of change in accounting principle (Note 7) (1,002) --
Net income/(loss) $ (980) $ (5,453) $ 3,467
Income/(loss) attributable to Common and Class B Stock
after Preferred Stock dividends $ (995) $ (5,468) $ 3,452
Average number of shares of Common and Class B Stock
outstanding (Note 15) 1,819 1,820 1,483
AMOUNTS PER SHARE OF COMMON AND CLASS B STOCK (Note 15)
Basic income/(loss)
Income/(loss) from continuing operations $0.15 $ (2.96) $ 3.69
Income/(loss) from discontinued/held-for-sale operations (0.04) (0.06) 0.18
Loss on disposal of discontinued/held-for-sale operations (0.11) - (1.53)
Cumulative effect of change in accounting principle (0.55) - -
Net income/(loss) $ (0.55) $ (3.02) $ 2.34
Diluted income/(loss)
Income/(loss) from continuing operations $0.15 $ (2.96) $ 3.62
Income/(loss) from discontinued/held-for-sale operations (0.03) (0.06) 0.17
Loss on disposal of discontinued/held-for-sale operations (0.11) - (1.49)
Cumulative effect of change in accounting principle (0.55) --
Net income/(loss) $ (0.54) $ (3.02) $ 2.30
Cash dividends $0.40 $ 1.05 $ 1.80
The accompanying notes are part of the financial statements.
FORD MOTOR COMPANY AND SUBSIDIARIES
For the Years Ended December 31, 2002, 2001 and 2000
(in millions, except per share amounts)