Ford 2003 Annual Report Download - page 69

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2003 ANNUAL REPORT 67
CONSOLIDATED STATEMENT OF INCOME
2003 2002 2001
Sales and revenues
Automotive sales $ 138,442 $ 134,273 $ 130,736
Financial Services revenue 25,754 27,983 29,768
Total sales and revenues 164,196 162,256 160,504
Automotive interest income 870 834 765
Costs and expenses
Cost of sales 129,821 125,043 128,348
Selling, administrative and other expenses 23,902 24,894 25,007
Interest expense 7,690 8,836 10,816
Provision for credit and insurance losses 2,357 3,275 3,661
Total costs and expenses 163,770 162,048 167,832
Automotive equity in net income/(loss)
of affiliated companies 74 (91) (856)
Income/(loss) before income taxes 1,370 951 (7,419)
Provision for/(benefit from) income taxes 135 301 (2,096)
Income/(loss) before minority interests 1,235 650 (5,323)
Minority interests in net income/(loss) of subsidiaries 314 367 24
Income/(loss) from continuing operations 921 283 (5,347)
Income/(loss) from discontinued/held-for-sale operations (8) (62) (106)
Loss on disposal of discontinued/held-for-sale operations (154) (199) -
Cumulative effect of change in accounting principle (264) (1,002) -
Net income/(loss) $ 495 $ (980) $ (5,453)
Income/(loss) attributable to Common and Class B Stock
after Preferred Stock dividends $ 495 $ (995) $ (5,468)
Average number of shares of Common and Class B Stock
outstanding 1,832 1,819 1,820
AMOUNTS PER SHARE OF COMMON AND CLASS B STOCK
Basic income/(loss)
Income/(loss) from continuing operations $ 0.50 $ 0.15 $ (2.96)
Income/(loss) from discontinued/held-for-sale operations -(0.04) (0.06)
Loss on disposal of discontinued/held-for-sale operations (0.09) (0.11) -
Cumulative effect of change in accounting principle (0.14) (0.55) -
Net income/(loss) $ 0.27 $ (0.55) $ (3.02)
Diluted income/(loss)
Income/(loss) from continuing operations $ 0.50 $ 0.15 $ (2.96)
Income/(loss) from discontinued/held-for-sale operations -(0.03) (0.06)
Loss on disposal of discontinued/held-for-sale operations (0.09) (0.11) -
Cumulative effect of change in accounting principle (0.14) (0.55) -
Net income/(loss) $ 0.27 $ (0.54) $ (3.02)
Cash dividends $ 0.40 $ 0.40 $ 1.05
The accompanying notes are part of the financial statements.
FORD MOTOR COMPANY AND SUBSIDIARIES
For the Years Ended December 31, 2003, 2002 and 2001
(in millions, except per share amounts)
FIN33_72 3/22/04 5:05 PM Page 67