Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Ford Motor Co., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Company revenues excluding Ford Credit	165,901)	149,079)	126,268)	115,941)	143,640)
Cost of sales	(150,550)	(134,397)	(114,651)	(112,752)	(134,693)
Gross profit	15,351)	14,682)	11,617)	3,189)	8,947)
Ford Credit revenues	10,290)	8,978)	10,073)	11,203)	12,260)
Selling, administrative, and other expenses	(10,702)	(10,888)	(11,915)	(10,193)	(11,161)
Ford Credit interest, operating, and other expenses	(9,481)	(6,496)	(5,252)	(8,607)	(9,472)
Operating income (loss)	5,458)	6,276)	4,523)	(4,408)	574)
Interest expense on Company debt excluding Ford Credit	(1,302)	(1,259)	(1,803)	(1,649)	(1,020)
Net periodic pension and OPEB income (cost), excluding service cost	(2,494)	1,336)	5,997)	69)	(1,602)
Investment-related interest income	1,567)	639)	254)	452)	809)
Interest income (expense) on income taxes	(16)	(23)	7)	(2)	(29)
Realized and unrealized gains (losses) on cash equivalents, marketable securities, and other investments	(205)	(7,518)	9,159)	325)	144)
Gains (losses) on changes in investments in affiliates	9)	(147)	368)	3,446)	20)
Losses on extinguishment of debt	—)	(121)	(1,702)	(1)	(55)
Royalty income	477)	483)	619)	493)	381)
Other	59)	201)	31)	117)	106)
Other income (loss), net	(603)	(5,150)	14,733)	4,899)	(226)
Equity in net income (loss) of affiliated companies	414)	(2,883)	327)	42)	32)
Income (loss) before income taxes	3,967)	(3,016)	17,780)	(1,116)	(640)
(Provision for) benefit from income taxes	362)	864)	130)	(160)	724)
Net income (loss)	4,329)	(2,152)	17,910)	(1,276)	84)
(Income) loss attributable to noncontrolling interests	18)	171)	27)	(3)	(37)
Net income (loss) attributable to Ford Motor Company	4,347)	(1,981)	17,937)	(1,279)	47)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Income statement item	Description	The company
Company revenues excluding Ford Credit	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Ford Motor Co. company revenues excluding Ford Credit increased from 2021 to 2022 and from 2022 to 2023.
Operating income (loss)	The net result for the period of deducting operating expenses from operating revenues.	Ford Motor Co. operating income (loss) increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
Income (loss) before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Ford Motor Co. income (loss) before income taxes decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
Net income (loss) attributable to Ford Motor Company	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Ford Motor Co. net income (loss) attributable to Ford Motor Company decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

Ford Motor Co. (NYSE:F)

Income Statement