Ford 2002 Annual Report Download - page 89

Download and view the complete annual report

Please find page 89 of the 2002 Ford annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 106

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106

85
NOTES TO FINANCIAL STATEMENTS
NOTE 21. SEGMENT INFORMATION (IN MILLIONS)
Our sectors, Automotive and Financial Services, are managed as three primary operating segments. The Automotive sector
(and segment) consists of the design, development, manufacture, sale and service of cars and trucks. The Financial Services
sector primarily includes two segments, Ford Credit and Hertz. Ford Credit provides vehicle-related financing, leasing, and
insurance. Hertz rents cars, light trucks and industrial and construction equipment. Segment selection was based upon inter-
nal organizational structure, the way in which performance is managed and evaluated, the availability of separate financial
results and materiality considerations.
Financial Services Sector
Ford Other Eliminations
Automotive Credit Hertz Fin Svcs and Other b/ Total
2002
Revenues
External customer $ 134,425 $ 22,640 $ 4,949 $ 549 $ 23 $ 162,586
Intersegment 4,444 330 29 90 (4,893) -
Total Revenues $ 138,869 $ 22,970 $ 4,978 $ 639 $ (4,870) $ 162,586
Income
Income/(loss) before taxes $ (1,156) $ 1,970 $ 200 $ (76) $ 15 $ 953
Provision for/(benefit from) income tax (533) 731 73 14 17 302
Income/(loss) from continuing operations(987) 1,235 127 (89) (2) 284
Other Disclosures
Depreciation and amortization $ 4,918 $ 8,513 $ 1,639 $ 41 $ 66 $ 15,177
Interest income a/ 834 - - - - 834
Interest expense 1,368 6,929 377 150 - 8,824
Capital expenditures 6,776 83 255 164 - 7,278
Unconsolidated affiliates
Equity in net income/(loss) (91) 11 - - - (80)
Investments in 2,470 197 - 29 - 2,696
Total assets at year-end 107,790 170,169 11,479 5,788 (4) 295,222
2001
Revenues
External customer $ 130,827 $ 24,325 $ 4,898 $ 678 $ 26 $ 160,754
Intersegment 3,260 521 27 103 (3,911) -
Total Revenues $ 134,087 $ 24,846 $ 4,925 $ 781 $ (3,885) $ 160,754
Income
Income/(loss) before taxes $ (8,862) $ 1,496 $ 3 $ (59) $ - $ (7,422)
Provision for/(benefit from) income tax (2,750) 664 (21) 10 - (2,097)
Income/(loss) from continuing operations (6,155) 831 23 (48) - (5,349)
Other Disclosures
Depreciation and amortization $ 9,126 $ 8,464 $ 1,620 $ 54 $ 69 $ 19,333
Interest income a/ 765 - - - - 765
Interest expense 1,376 8,922 414 105 - 10,817
Capital expenditures 6,301 182 310 159 - 6,952
Unconsolidated affiliates
Equity in net income/(loss) (856) 5 - - - (851)
Investments in 2,450 177 - 11 - 2,638
Total assets at year-end 88,319 173,096 10,525 4,616 (13) 276,543
2000
Revenues
External customer $ 140,777 $ 22,857 $ 5,027 $ 399 $ 31 $ 169,091
Intersegment 3,783 227 30 154 (4,194) -
Total Revenues $ 144,560 $ 23,084 $ 5,057 $ 553 $ (4,163) $ 169,091
Income
Income before taxes $ 5,323 $ 2,504 $ 581 $ (109) $ - $ 8,299
Provision for/(benefit from) income tax 1,609 929 223 (41) - 2,720
Income/(loss) from continuing operations 3,664 1,542 358 (108) - 5,456
Other Disclosures
Depreciation and amortization $ 6,489 $ 7,495 $ 1,504 $ 47 $ 55 $ 15,590
Interest income a/ 1,488 - - - - 1,488
Interest expense 1,383 8,912 428 122 15 10,860
Capital expenditures 7,393 168 291 496 - 8,348
Unconsolidated affiliates
Equity in net income/(loss) (70) (22) - 1 - (91)
Investments in 2,949 79 - 7 - 3,035
Total assets at year-end 94,312 174,258 10,620 3,731 469 283,390
a/ Financial Services sector’s interest income is recorded as Revenues.
b/ Includes intersegment transactions occurring in the ordinary course of business.