Ford 2011 Annual Report Download - page 37

Download and view the complete annual report

Please find page 37 of the 2011 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 188

  • 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
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188

Management’s Discussion and Analysis of Financial Condition and Results of Operations
Ford Motor Company | 2011 Annual Report 35
RESULTS OF OPERATIONS
TOTAL COMPANY
Our net income attributable to Ford Motor Company was $20.2 billion or $4.94 per share of Common and Class B
Stock in 2011, an improvement of $13.6 billion from net income attributable to Ford Motor Company of $6.6 billion or
$1.66 per share of Common and Class B Stock in 2010.
Total Company results are shown below:
Income/(Loss)
Pre-tax results (excl. special items)
Special items
Pre-tax results (incl. special items)
(Provision for)/Benefit from income taxes
Income from continuing operations
Income/(Loss) from discontinued operations
Net income/(loss)
Less: Income/(Loss) attributable to noncontrolling interests
Net income/(loss) attributable to Ford
2011
(Mils.)
$8,763
(82)
8,681
11,541
20,222
—
20,222
9
$20,213
2010
(Mils.)
$8,300
(1,151)
7,149
(592)
6,557
—
6,557
(4)
$6,561
2009
(Mils.)
$38
2,561
2,599
113
2,712
5
2,717
—
$ 2,717
Income/(Loss) before income taxes includes certain items ("special items") that we have grouped into "Personnel and
Dealer-Related Items" and "Other Items" to provide useful information to investors about the nature of the special items.
The first category includes items related to our efforts to match production capacity and cost structure to market demand
and changing model mix and therefore helps investors track amounts related to those activities. The second category
includes items that we do not generally consider to be indicative of our ongoing operating activities, and therefore allows
investors analyzing our pre-tax results to identify certain infrequent significant items that they may wish to exclude when
considering the trend of ongoing operating results.
As detailed in Note 27 of the Notes to the Financial Statements, we allocate all Automotive sector and Financial
Services sector special items to a separate reconciling item, as opposed to allocating them among the operating
segments and Other Automotive, reflecting the fact that management excludes these items from its review of operating
segment results for purposes of measuring segment profitability and allocating resources among the segments.