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Appendix A

Ford Motor Company Income Statement

Income Statement

Fiscal year is January-December.

All values USD Millions. 2019 2018 2017 2016 2015

Sales/Revenue 155,900 160,338 156,776 151,800 149,558

Sales Growth -2.77% 2.27% 3.28% 1.50% -

Cost of Goods Sold (COGS) incl.

136,790 137,582 132,824 128,725 119,556
D&A

COGS excluding D&A 128,300 129,274 124,371 120,008 111,590

 Depreciation & Amortization
8,490 8,308 8,453 8,717 7,966
Expense

Depreciation 9,689 9,280 9,122 9,023 7,993

Amortization of Intangibles (1,199) (972) (669) (306) (27)

COGS Growth -0.58% 3.58% 3.18% 7.67% -

Gross Income 19,110 22,756 23,952 23,075 30,002

Gross Income Growth -16.02% -4.99% 3.80% -23.09% -

Gross Profit Margin 12.26% - - - -

SG&A Expense 18,561 19,603 19,527 19,496 21,699

Research & Development 7,400 8,200 8,000 7,300 6,700

Other SG&A 11,161 11,403 11,527 12,196 14,999

SGA Growth -5.32% 0.39% 0.16% -10.15% -

Other Operating Expense - - - - 417

EBIT 549 3,153 - 3,579 7,886

Unusual Expense 181 (24) 197 (1,163) (969)

Non Operating Income/Expense (829) 1,616 3,678 1,244 413

Non-Operating Interest Income 809 667 459 291 309

Equity in Affiliates (Pretax) 32 123 1,201 1,780 1,818

Interest Expense 1,020 1,238 1,407 1,261 1,143

Interest Expense Growth -17.61% -12.01% 11.58% 10.32% -

Gross Interest Expense 1,020 1,238 1,407 1,288 1,163

 Interest Capitalized - - - 27 20

Pretax Income (640) 4,345 8,159 6,796 10,252

Pretax Income Growth -114.73% -46.75% 20.06% -33.71% -

Pretax Margin -0.41% - - - -

Income Tax (724) 650 402 2,189 2,881

Income Tax - Current Domestic (68) 69 (40) (110) 92

Income Tax - Current Foreign 738 690 868 630 572

Income Tax - Deferred Domestic (1,324) (348) (1,019) 1,548 1,745

Income Tax - Deferred Foreign (70) 239 593 121 472

Consolidated Net Income 84 3,695 7,757 4,607 7,371

Minority Interest Expense 37 18 26 11 (2)

Net Income 47 3,677 7,731 4,596 7,373

Net Income Growth -98.72% -52.44% 68.21% -37.66% -

Net Margin 0.03% - - - -

Net Income After Extraordinaries 47 3,677 7,731 4,596 7,373

Net Income Available to Common 47 3,677 7,731 4,596 7,373

EPS (Basic) 0.01 0.92 1.93 1.15 1.84

EPS (Basic) Growth -98.73% -52.33% 67.83% -37.50% -

Basic Shares Outstanding 3,972 3,974 3,975 3,973 3,969

 EPS (Diluted) 0.01 0.92 1.93 1.15 1.84

EPS (Diluted) Growth -98.72% -52.44% 68.25% -37.62% -

Diluted Shares Outstanding 4,004 3,998 3,998 3,999 4,002

EBITDA 9,039 11,461 12,878 12,296 15,852

EBITDA Growth -21.13% -11.00% 4.73% -22.43% -

EBITDA Margin 5.80% - - - -

EBIT 549 3,153 - 3,579 7,886

Appendix B

Ford Motor Company Balance Sheet

Balance Sheet

Fiscal year is January-

December. All values USD

Millions. 2019 2018 2017 2016 2015

Cash & Short Term 34,651 33,951 38,927 38,827 35,176

Investments

Cash Only 17,504 16,718 18,492 15,905 14,272

Short-Term Investments 17,147 17,233 20,435 22,922 20,904

Cash & Short Term

2.06% -12.78% 0.26% 10.38% -
Investments Growth

Cash & ST Investments / 13.40

13.23% 15.06% 16.32% 15.64%
Total Assets %

Total Accounts Receivable 63,139 65,812 63,049 57,591 101,975

Accounts Receivables, Net 62,888 65,548 62,809 57,368 101,975

Accounts Receivables,
63,579 66,231 63,818 58,244 102,348
Gross

Bad Debt/Doubtful
(691) (683) (1,009) (876) (373)
Accounts

Other Receivables 251 264 240 223 -

Accounts Receivable
-4.06% 4.38% 9.48% -43.52% -
Growth

Accounts Receivable
2.47 2.44 2.49 2.64 1.47
Turnover

Inventories 10,786 11,220 11,176 8,898 8,319

Finished Goods 6,384 6,684 6,779 5,943 5,254

Raw Materials 4,402 4,536 4,397 3,843 4,005

Progress Payments &

- - - (888) (940)
Other
Other Current Assets 5,471 3,666 3,649 3,145 -

Miscellaneous Current
5,471 3,666 3,649 3,145 -
Assets

114,04
Total Current Assets 114,649 116,801 108,461 145,470
7

Net Property, Plant &

67,114 65,297 63,562 60,901 57,256
Equipment

Property, Plant & Equipment 103,90

101,683 99,422 94,319 89,316
- Gross 2

Buildings 11,900 11,477 11,096 10,308 9,942

Land & Improvements 421 445 411 391 344

Machinery & Equipment 38,939 38,720 37,533 34,149 33,164

Construction in Progress 1,710 2,066 2,608 2,170 1,750

Computer Software and

3,691 3,349 3,118 2,803 2,241
Equipment

Leased Property 33,386 33,557 32,659 32,823 31,687

Other Property, Plant &

12,440 12,069 11,997 11,675 10,188
Equipment

Accumulated Depreciation 36,788 36,386 35,860 33,418 32,060

Total Investments and

3,894 3,148 3,594 3,523 3,224
Advances

LT Investment - Affiliate
3,719 2,959 3,448 3,523 3,224
Companies
 Other Long-Term
175 189 146 - -
Investments

Long-Term Note Receivable 53,703 55,544 56,182 49,924 209

Intangible Assets 278 442 288 248 124

Net Goodwill 278 264 75 50 -

Net Other Intangibles - 178 213 198 124

Other Assets 7,638 7,048 7,307 5,189 7,133

Tangible Other Assets 7,638 7,048 7,307 5,189 7,133

258,53
Total Assets 256,540 258,496 237,951 224,925
7

Assets - Total - Growth 0.78% -0.76% 8.63% 5.79% -

Asset Turnover 0.61 - - - -

Return On Average Assets 0.02% - - - -

Liabilities & Shareholders' Equity

All values USD Millions. 2019 2018 2017 2016 2015

ST Debt & Current Portion LT

54,313 53,493 51,621 49,669 42,998
Debt

Short Term Debt 14,399 15,319 18,549 16,654 12,941

Current Portion of Long

39,914 38,174 33,072 33,015 30,057
Term Debt

Accounts Payable 20,673 21,520 23,282 21,296 20,272

 Accounts Payable Growth -3.94% -7.57% 9.33% 5.05% -

Other Current Liabilities 23,146 20,556 19,697 19,316 17,992

Accrued Payroll 2,374 2,298 2,238 2,065 2,130

Miscellaneous Current
20,772 18,258 17,459 17,251 15,862
Liabilities

Total Current Liabilities 98,132 95,569 94,600 90,281 81,262

Current Ratio 1.16 1.20 1.23 1.20 1.79

Quick Ratio 1.05 1.08 1.12 1.10 1.69

Cash Ratio 0.35 0.36 0.41 0.43 0.43

Long-Term Debt 102,408 100,720 102,666 93,301 89,856

Long-Term Debt excl.

101,280 100,720 102,666 93,301 89,856
Capitalized Leases

Non-Convertible Debt 101,280 100,720 102,666 93,301 89,856

Capitalized Lease Obligations 81 - - - -

Provision for Risks & Charges 16,722 15,723 16,892 16,915 15,929

Deferred Taxes (11,373) (9,815) (9,947) (9,014) (11,007)

Deferred Taxes - Credit 490 597 815 691 502

Deferred Taxes - Debit 11,863 10,412 10,762 9,705 11,509

Other Liabilities 7,555 7,865 7,819 7,480 8,625

Other Liabilities (excl.

3,364 3,880 3,990 3,793 5,792
Deferred Income)
 Deferred Income 4,191 3,985 3,829 3,687 2,833

Total Liabilities 225,307 220,474 222,792 208,668 196,174

Total Liabilities / Total Assets 87.15% 85.94% 86.19% 87.69% 87.22%

Common Equity (Total) 33,185 35,932 35,578 29,170 28,642

Common Stock Par/Carry

41 41 41 41 41
Value

Additional Paid-In
22,165 22,006 21,843 21,630 21,421
Capital/Capital Surplus

Retained Earnings 20,320 22,668 21,906 15,634 14,414

Cumulative Translation

Adjustment/Unrealized For. (4,626) (4,800) (4,277) (4,593) (3,570)

Exch. Gain

Unrealized Gain/Loss
71 (59) (48) (14) (6)
Marketable Securities

Other Appropriated
(3,173) (2,507) (2,634) (2,406) (2,681)
Reserves

Treasury Stock (1,613) (1,417) (1,253) (1,122) (977)

Common Equity / Total

12.84% 14.01% 13.76% 12.26% 12.73%
Assets

Total Shareholders' Equity 33,185 35,932 35,578 29,170 28,642

Total Shareholders' Equity /

12.84% 14.01% 13.76% 12.26% 12.73%
Total Assets

Accumulated Minority Interest 45 134 126 113 109

Total Equity 33,230 36,066 35,704 29,283 28,751

Liabilities & Shareholders'

258,537 256,540 258,496 237,951 224,925
Equity