Ford 2002 Annual Report Download - page 64

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60
SECTOR BALANCE SHEET
FORD MOTOR COMPANY AND SUBSIDIARIES
As of December 31, 2002 and 2001
(in millions)
2002 2001
ASSETS
Automotive
Cash and cash equivalents $ 5,180 $ 4,064
Marketable securities (Note 4) 17,464 10,949
Total cash and marketable securities 22,644 15,013
Receivables, less allowances of $374 and $240 2,065 2,181
Inventories (Note 5) 6,980 6,127
Deferred income taxes 3,462 2,595
Other current assets 4,551 6,153
Current receivable from Financial Services (Note 1) 1,062 938
Total current assets 40,764 33,007
Equity in net assets of affiliated companies 2,470 2,450
Net property (Note 6) 36,364 33,022
Deferred income taxes 11,694 5,981
Goodwill (Note 7) 4,805 5,213
Other intangible assets (Note 7) 812 1,125
Assets of discontinued and held-for-sale operations (Note 3) 98 368
Other assets 10,783 7,153
Total Automotive assets 107,790 88,319
Financial Services
Cash and cash equivalents 7,070 3,133
Investments in securities (Note 4) 807 628
Finance receivables, net (Notes 8 and 10) 97,030 110,190
Net investment in operating leases (Note 9) 40,055 45,388
Retained interest in sold receivables (Note 8) 17,618 12,548
Goodwill (Note 7) 752 1,042
Other intangible assets (Note 7) 248 265
Assets of discontinued and held-for-sale operations (Note 3) 2,406 2,136
Other assets 16,643 9,182
Receivable from Automotive (Note 1) 4,803 3,712
Total Financial Services assets 187,432 188,224
Total assets $ 295,222 $ 276,543
LIABILITIES AND STOCKHOLDERS’ EQUITY
Automotive
Trade payables $ 14,606 $ 15,620
Other payables 2,485 4,224
Accrued liabilities (Note 11) 27,644 24,295
Debt payable within one year (Note 12) 557 302
Total current liabilities 45,292 44,441
Long-term debt (Note 12) 13,607 13,467
Other liabilities (Note 11) 46,886 30,873
Deferred income taxes 303 362
Liabilities of discontinued and held-for-sale operations (Note 3) 138 125
Payable to Financial Services (Note 1) 4,803 3,712
Total Automotive liabilities 111,029 92,980
Financial Services
Payables 1,890 1,484
Debt (Note 12) 148,058 153,034
Deferred income taxes 11,644 9,686
Other liabilities and deferred income 9,448 9,165
Liabilities of discontinued and held-for-sale operations (Note 3) 831 798
Payable to Automotive (Note 1) 1,062 938
Total Financial Services liabilities 172,933 175,105
Company-obligated mandatorily redeemable preferred securities of a subsidiary
trusts holding solely junior subordinated debentures of the company (Note 14) 5,670 672
Stockholders’ equity
Capital stock (Notes 15 and 16)
Preferred Stock, par value $1.00 per share
(aggregate liquidation preference of $177 million at December 31, 2001) -*
Common Stock, par value $0.01 per share (1,837 million shares issued) 18 18
Class B Stock, par value $0.01 per share (71 million shares issued) 11
Capital in excess of par value of stock 5,420 6,001
Accumulated other comprehensive income/(loss) (6,531) (5,913)
Treasury stock (1,977) (2,823)
Earnings retained for use in business 8,659 10,502
Total stockholders’ equity 5,590 7,786
Total liabilities and stockholders’ equity $ 295,222 $ 276,543
*Less than $1 million.
The accompanying notes are part of the financial statements.