Ford 2003 Annual Report Download - page 3

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2003 ANNUAL REPORT 1
a/ Voluntary Employee Beneficiary Association trust, in which $4.0 billion of financial assets were held at the end of 2003 and $2.7 billion at the
end of 2002 to fund certain future employee benefit obligations in the near term.
b/ Automotive cash, marketable and loaned securities and assets held in a short-term VEBA trust less Automotive senior debt.
c/ Including special items — $2.0 billion loss and $1.2 billion loss for 2003 and 2002, respectively. See page 37 for reconciliation to U.S. GAAP.
d/ From Bloomberg Total Return Analysis assuming dividends are reinvested in Ford stock.
Prior period has been reclassified for discontinued/held-for-sale operations.
OPERATING HIGHLIGHTS
Financial Results 2003 2002
Worldwide vehicle unit sales of cars and trucks
by Automotive segment (in thousands)
Americas 4,020 4,341
International 2,700 2,632
Total 6,720 6,973
Sales and revenues (in billions)
Automotive $ 138.4 $ 134.3
Financial Services 25.8 28.0
Total $ 164.2 $ 162.3
Automotive capital expenditures
Amount (in billions) $7.4 $ 6.8
As a percentage of automotive sales 5.3% 5.0%
Automotive cash at year end (in billions)
Cash, marketable and loaned securities
and assets held in short-term VEBA trust a/ $ 25.9 $ 25.3
Cash net of senior debt b/ 10.9 11.1
Income before taxes excluding special items (in billions)
Automotive c/ $ 0.1 $ (0.3)
Financial Services 3.3 2.1
Total $ 3.4 $ 1.8
Net income/(loss) (in billions) $ 0.5 $ (1.0)
Basic net income/(loss) per share of Common and Class B stock $0.27 $ (0.55)
Shareholder Value
Dividends per share $0.40 $ 0.40
Total shareholder returns d/ 79% (39)%
EDITORIALpg1_7 3/21/04 5:31 PM Page 1