Ford 2006 Annual Report Download - page 18
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Please find page 18 of the 2006 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.Management’s Discussion and Analysis of Financial Condition and Results of Operations
16
RESULTS OF OPERATIONS
FULL-YEAR 2006 RESULTS OF OPERATIONS
Our worldwide net income was a loss of $12.6 billion or $6.72 per share of Common and Class B Stock in 2006, down
$14 billion from a profit of $1.4 billion or $0.77 per share in 2005.
Results by business sector for 2006, 2005, and 2004 are shown below (in millions):
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(a) See Note 18 of the Notes to the Financial Statements for disclosure regarding 2006 effective tax rate.
(b) Primarily related to Ford Europe's consolidated 41%-owned affiliate, Ford Otosan; the decrease in 2006 primarily reflected the impact on deferred
tax balances of tax law changes in Turkey. The pre-tax results for Ford Otosan were $509 million in 2006, $503 million in 2005, and $452 million in
2004.
(c) See Note 27 of the Notes to the Financial Statements.
Included in Income/(loss) before income taxes are items we do not consider indicative of our ongoing operating activities
("special items"). The following table details 2006, 2005, and 2004 special items by segment or business unit (in millions):
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(a) See Note 17 of the Notes to the Financial Statements for definition and discussion of Jobs Bank Benefits.
(b) See Notes 19 and 23 of the Notes to the Financial Statements for discussion of Visteon-related charges.