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