Ford 2012 Annual Report Download - page 155

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Ford Motor Company | 2012 Annual Report 153
FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
NOTE 30. SELECTED QUARTERLY FINANCIAL DATA (unaudited)
Selected financial data by calendar quarter were as follows (in millions, except per share amounts):
2012 2011
Automotive Sector
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Revenues $ 30,525 $ 31,328 $30,247 $34,467 $31,038 $33,476 $31,043 $ 32,611
Income before income taxes 1,582 1,148 1,858 1,422 2,070 2,004 1,241 935
Financial Services Sector
Revenues 1,920 1,883 1,925 1,957 2,076 2,051 2,004 1,965
Income before income taxes 456 447 388 419 706 602 605 518
Total Company
Income before income taxes 2,038 1,595 2,246 1,841 2,776 2,606 1,846 1,453
Amounts Attributable to Ford Motor Company Common and Class B Shareholders
Net income 1,396 1,040 1,631 1,598 2,551 2,398 1,649 13,615
Common and Class B per share from income from continuing operations before cumulative effects of changes in accounting principles
Basic 0.37 0.27 0.43 0.42 0.68 0.63 0.43 3.58
Diluted 0.35 0.26 0.41 0.40 0.61 0.59 0.41 3.40
Certain of the quarterly results identified above include material unusual or infrequently occurring items as follows:
The pre-tax income of $1.8 billion in the fourth quarter of 2012 includes 1) a $250 million unfavorable item related to
the U.S. salaried lump sum pension buyout program (see Note 16), and 2) a $625 million gain related to the
reorganization of our equity investment in CFMA (see Note 25).
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 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.
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