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Notes to the Financial Statements
Ford Motor Company | 2011 Annual Report 177
NOTE 29. SELECTED QUARTERLY FINANCIAL DATA (unaudited)
Selected financial data by calendar quarter were as follows (in millions, except per share amounts):
Automotive Sector
Sales
Operating income/(loss)
Income/(Loss) before income taxes
Financial Services Sector
Revenues
Income/(Loss) before income taxes
Total Company
Income/(Loss) before income taxes
Amounts Attributable to Ford Motor Company Common and Class B Shareholders
Income/(Loss) from continuing operations
before cumulative effects of changes in
accounting principles
Net income/(loss)
Common and Class B per share from income/(loss) from continuing operations before cumulative effects of changes in accounting
principles
Basic
Diluted
2011
First
Quarter
$ 31,038
2,119
2,070
2,076
706
2,776
2,551
2,551
0.68
0.61
Second
Quarter
$33,476
1,878
2,004
2,051
602
2,606
2,398
2,398
0.63
0.59
Third
Quarter
$31,043
1,224
1,241
2,004
605
1,846
1,649
1,649
0.43
0.41
Fourth
Quarter
$32,611
542
935
1,965
518
1,453
13,615
13,615
3.58
3.40
2010
First
Quarter
$28,894
1,535
1,320
2,672
815
2,135
2,085
2,085
0.62
0.50
Second
Quarter
$32,564
2,312
1,972
2,503
875
2,847
2,599
2,599
0.76
0.61
Third
Quarter
$27,592
1,334
1,126
2,301
761
1,887
1,687
1,687
0.49
0.43
Fourth
Quarter
$ 30,230
608
(272)
2,198
552
280
190
190
0.05
0.05
Certain of the quarterly results identified above include material unusual or infrequently occurring items as follows:
The pre-tax income of $1.5 billion in the fourth quarter of 2011 includes a $401 million gain related to the sale of our
Russian operations to the newly-created FordSollers joint venture, which began operations on October 1, 2011.
The net income/(loss) attributable to Ford Motor Company of $13.6 billion in the fourth quarter of 2011 includes a
$12.4 billion favorable item, reflecting the release of almost all of the valuation allowance against our net deferred tax
assets.
The pre-tax income of $280 million in the fourth quarter of 2010 includes a $962 million loss on the conversion of our
2016 and 2036 Convertible Notes to Ford Common Stock.