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90
ELEVEN-YEAR FINANCIAL SUMMARY
The following tables set forth selected financial and other data for each of the last eleven years (dollar amounts in millions, except
per-share and per-hour amounts). 2001–1998 data (except employee data) have been reclassified for operations discontinued and
held-for-sale in 2002. 1997–1992 data is as previously reported.
SUMMARY OF OPERATIONS
2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992
Automotive sector
Sales $134,425 $130,827 $140,777 $135,029 $118,017 $121,976 $116,886 $110,496 $107,137 $ 91,568 $ 84,407
Operating income/(loss) (531) (7,395) 5,288 7,186 5,376 6,060 1,843 3,142 5,782 1,408 (1,760)
Income/(loss) before income taxes (1,156) (8,862) 5,323 7,292 5,842 6,267 1,967 3,166 5,997 1,291 (1,952)
Income/(loss) from continuing operations (987) (6,155) 3,664 4,996 4,049 4,203 1,271 2,056 3,913 1,008 (1,745)
Financial Services sector
Revenues $ 28,161 $ 29,927 $ 28,314 $ 25,162 $ 25,011 $ 30,796 $ 29,053 $ 26,780 $ 21,346 $ 16,977 $ 15,710
Income/(loss) before income taxes 2,109 1,440 2,976 2,565 18,415 3,857 4,222 3,539 2,792 2,712 1,825
Income/(loss) from continuing operations
a/, b/, c/ 1,271 806 1,792 1,508 17,333 2,206 2,791 2,083 1,395 1,521 1,243
Total Company
Income/(loss) before income taxes $ 953 $ (7,422) $ 8,299 $ 9,857 $ 24,257 $ 10,124 $ 6,189 $ 6,705 $ 8,789 $ 4,003 $ (127)
Provision/(credit) for income taxes 302 (2,097) 2,720 3,243 2,723 3,436 1,943 2,379 3,329 1,350 295
Minority interests in net income of
subsidiaries 367 24 123 110 152 279 184 187 152 124 80
Income/(loss) from continuing operations
a/, b/, c/ 284 (5,349) 5,456 6,504 21,382 6,409 4,062 4,139 5,308 2,529 (502)
Income/(loss) from discontinued and
held-for-sale operations (63) (104) 263 733 689 511 384 - - - -
Loss on disposal of discontinued and
held-for-sale operations (199) - (2,252) - - - - - - - -
Cumulative effects of change in accounting
principle (1,002) - - - - - - - - - (6,883)
Net income/(loss) $ (980) $ (5,453) $ 3,467 $ 7,237 $ 22,071 $ 6,920 $ 4,446 $ 4,139 $ 5,308 $ 2,529 $ (7,385)
Total Company Data Per Share of Common and Class B Stock d/
Basic:
Income/(loss) from continuing operations $ 0.15 $ (2.96) $ 3.69 $ 5.38 $ 17.60 $ 5.32 $ 3.40 $ 3.58 $ 4.97 $ 2.27 $ (0.73)
Income/(loss) from discontinued and
held-for-sale operations (0.04) (0.06) 0.18 0.61 0.57 0.43 0.33 - - - -
Loss on disposal of discontinued and
held-for-sale operations (0.11) - (1.53) - - - - - - - -
Cumulative effects of change in accounting
principle (0.55) - - - - - - - - - (7.08)
Net income/(loss) $ (0.55) $ (3.02) $ 2.34 $ 5.99 $ 18.17 $ 5.75 $ 3.73 $ 3.58 $ 4.97 $ 2.27 $ (7.81)
Diluted:
Income/(loss) from continuing operations $ 0.15 $ (2.96) $ 3.62 $ 5.26 $ 17.20 $ 5.20 $ 3.32 $ 3.33 $ 4.44 $ 2.10 $ (0.73)
Income/(loss) from discontinued and
held-for-sale operations (0.03) (0.06) 0.17 0.60 0.56 0.42 0.32 - - - -
Loss on disposal of discontinued and
held-for-sale operations (0.11) - (1.49) - - - - - - - -
Cumulative effects of change in
accounting principle (0.55) - - - - - - - - - (7.08)
Net income/(loss) $ (0.54) $ (3.02) $ 2.30 $ 5.86 $ 17.76 $ 5.62 $ 3.64 $ 3.33 $ 4.44 $ 2.10 $ (7.81)
Cash dividends e/ $0.40$ 1.05 $ 1.80 $ 1.88 $ 1.72 $ 1.645 $ 1.47 $ 1.23 $ 0.91 $ 0.80 $ 0.80
Common stock price range (NYSE Composite)
High $ 18.23 $ 31.42 $ 31.46 $ 37.30 $ 33.76 $ 18.34 $ 13.59 $ 12.00 $ 12.78 $ 12.06 $ 8.92
Low 6.90 14.70 21.69 25.42 15.64 10.95 9.94 9.03 9.44 7.85 5.07
Average number of shares of Common and
Class B stock outstanding (in millions) 1,819 1,820 1,483 1,210 1,211 1,195 1,179 1,071 1,010 986 972
a/ 1998 includes a non-cash gain of $15,955 million that resulted from the spin-off of The Associates.
b/ 1997 includes a gain of $269 million on the sale of Hertz Common Stock.
c/ 1996 includes a gain of $650 million on the sale of The Associates’ Common Stock.
d/ Share data have been adjusted to reflect stock dividends and stock splits. Common stock price range (NYSE Composite) has been adjusted to reflect the
Visteon spin-off, a recapitaliztion known as our Value Enhancement Plan, and The Associates spin-off and reflect inter-day high and low stock price range.
e/ Adjusted for the Value Enhancement Plan effected in August 2000, cash dividends were $1.16 per share in 2000.