Income Statement
Quarterly Data

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 (quarterly data)

US$ in millions

3 months ended:	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Company revenues excluding Ford Credit	47,185)	46,943)	37,422)	44,936)	43,069)	44,811)	39,890)	43,213)	41,176)	42,427)	39,085)	41,745)	37,205)	37,934)	32,195)	35,305)	33,249)	24,149)	33,565)	33,229)	34,727)	16,632)	31,353)
Cost of sales	(43,411)	(44,245)	(35,188)	(41,301)	(40,168)	(40,489)	(36,476)	(40,862)	(37,548)	(37,471)	(34,669)	(37,816)	(34,354)	(33,191)	(29,036)	(32,393)	(30,057)	(22,904)	(29,297)	(33,075)	(31,223)	(17,932)	(30,522)
Gross profit (loss)	3,774)	2,698)	2,234)	3,635)	2,901)	4,322)	3,414)	2,351)	3,628)	4,956)	4,416)	3,929)	2,851)	4,743)	3,159)	2,912)	3,192)	1,245)	4,268)	154)	3,504)	(1,300)	831)
Ford Credit revenues	3,349)	3,241)	3,237)	3,275)	3,127)	2,997)	2,887)	2,749)	2,625)	2,527)	2,389)	2,254)	2,187)	2,256)	2,281)	2,373)	2,434)	2,603)	2,663)	2,723)	2,774)	2,739)	2,967)
Selling, administrative, and other expenses	(2,740)	(2,706)	(2,431)	(2,777)	(2,456)	(2,678)	(2,376)	(2,775)	(2,671)	(2,750)	(2,506)	(2,542)	(2,847)	(2,759)	(2,740)	(3,248)	(2,947)	(2,877)	(2,843)	(3,530)	(2,266)	(1,965)	(2,432)
Ford Credit interest, operating, and other expenses	(2,825)	(2,722)	(2,721)	(2,902)	(2,692)	(2,758)	(2,700)	(2,570)	(2,453)	(2,272)	(2,186)	(2,080)	(1,687)	(1,372)	(1,357)	(1,298)	(1,337)	(993)	(1,624)	(1,789)	(1,661)	(2,233)	(2,924)
Operating income (loss)	1,558)	511)	319)	1,231)	880)	1,883)	1,225)	(245)	1,129)	2,461)	2,113)	1,561)	504)	2,868)	1,343)	739)	1,342)	(22)	2,464)	(2,442)	2,351)	(2,759)	(1,558)
Interest expense on Company debt excluding Ford Credit	(321)	(297)	(288)	(295)	(272)	(270)	(278)	(366)	(324)	(304)	(308)	(318)	(321)	(312)	(308)	(438)	(439)	(453)	(473)	(474)	(498)	(450)	(227)
Other income (loss), net	560)	577)	496)	1,211)	114)	628)	498)	(1,401)	319)	255)	224)	205)	1,318)	(1,823)	(4,850)	10,850)	852)	1,159)	1,872)	(944)	845)	4,318)	680)
Equity in net income (loss) of affiliated companies	21)	(250)	94)	167)	147)	197)	167)	145)	263)	(124)	130)	(282)	(2,626)	58)	(33)	67)	130)	51)	79)	50)	58)	(25)	(41)
Income (loss) before income taxes	1,818)	541)	621)	2,314)	869)	2,438)	1,612)	(1,867)	1,387)	2,288)	2,159)	1,166)	(1,125)	791)	(3,848)	11,218)	1,885)	735)	3,942)	(3,810)	2,756)	1,084)	(1,146)
(Provision for) benefit from income taxes	630)	(570)	(148)	(483)	27)	(605)	(278)	1,344)	(214)	(272)	(496)	93)	195)	(153)	729)	1,055)	(63)	(182)	(680)	1,019)	(366)	34)	(847)
Net income (loss)	2,448)	(29)	473)	1,831)	896)	1,833)	1,334)	(523)	1,173)	2,016)	1,663)	1,259)	(930)	638)	(3,119)	12,273)	1,822)	553)	3,262)	(2,791)	2,390)	1,118)	(1,993)
(Income) loss attributable to noncontrolling interests	(1)	(7)	(2)	(7)	(4)	(2)	(2)	(3)	26)	(99)	94)	30)	103)	29)	9)	9)	10)	8)	—)	3)	(5)	(1)	—)
Net income (loss) attributable to Ford Motor Company	2,447)	(36)	471)	1,824)	892)	1,831)	1,332)	(526)	1,199)	1,917)	1,757)	1,289)	(827)	667)	(3,110)	12,282)	1,832)	561)	3,262)	(2,788)	2,385)	1,117)	(1,993)

Revenue Trends: The company's revenues, excluding Ford Credit, show noticeable volatility over the analyzed quarters. Starting from a high of $31.353 billion in March 2020, revenues dropped sharply in June 2020 before rebounding in subsequent quarters. From 2021 onwards, the revenues generally trended upwards with some fluctuations, peaking at $46.943 billion in June 2025. This reflects intermittent recovery phases interspersed with periods of moderate declines, suggesting sensitivity to external or market factors. Ford Credit revenues display a slow but consistent decline from early 2020 until late 2022, followed by a steady increase approaching March 2025.
Cost of Sales and Gross Profit: Cost of sales mirrors the fluctuations in overall revenues but remains relatively high throughout the period. After a peak in March 2020, costs declined notably in mid-2020 but then rose steadily into 2023 and beyond, reaching the highest recorded values by mid-2025. Gross profit shows an inconsistent pattern, with losses reported in some quarters of 2020 but generally positive figures thereafter. The peaks in gross profit correlate with periods of revenue strength, though the profit margins appear under pressure at times due to rising costs.
Operating Expenses: Selling, administrative, and other expenses remain fairly stable with minor fluctuations, mostly ranging between approximately $2.4 billion to $3.5 billion. Notably, a surge to $3.53 billion occurred in December 2020. Ford Credit’s operational expenses demonstrate some variability but generally trend upwards in the later years, indicating increased costs or operational scaling in this segment.
Operating Income: The operating income data reveals considerable variability, showcasing periods of losses particularly in 2020 but improving significantly in following years. There's a recurring pattern of positive operating income from March 2021 onwards, though some quarters indicate setbacks, notably in December 2023 and June 2025. Overall, the operating income trend indicates gradual recovery and profitability stabilization over time.
Interest and Other Income: Interest expense on company debt, excluding Ford Credit, remains relatively stable with slight decreases in recent quarters. Other income shows considerable volatility with pronounced spikes, especially a large gain in December 2020. These irregular fluctuations in other income suggest non-operational gains or losses impacting the financial results irregularly.
Equity in Net Income of Affiliated Companies: Equity income exhibits inconsistent performance with notable losses in late 2021 and late 2022, offset by gains in other quarters. These fluctuations suggest varying performance or valuation changes in affiliated entities, with no clear trend toward consistent profitability or losses.
Net Income: Net income presents pronounced volatility, with significant losses during much of 2020, followed by substantial gains in 2021, including an exceptional spike in December 2021. Fluctuations continue thereafter with generally positive net income but occasional declines, such as losses in December 2023 and mid-2025. The data illustrates an overall recovery trajectory tempered by episodic financial challenges.

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Ford Motor Co. (NYSE:F)

Income Statement Quarterly Data

Income Statement
Quarterly Data