MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS RESULTS OF OPERATIONS FULL-YEAR 2004 RESULTS OF OPERATIONS 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 the 2004 special items by business unit (in millions): See “Automotive Sector Results of Operations – 2004 Compared with 2003” below for discussion of special items. a/ Primarily related to Ford Europe’s consolidated less-than-100%-owned affiliates. b/ Related to adoption of FIN 46 in 2003 and the adoption of Statement of Financial Accounting Standards No. 142 in 2002 (see Notes 16 and 9, respectively, of  the Notes to the Financial Statements). Our worldwide net income was $3.5 billion or $1.73 per share of Common and Class B stock in 2004, up $3.0 billion from a  profit of $495 million or $0.27 per share in 2003. Results by business sector for 2004, 2003, and 2002 are shown below (in millions): Certain prior-year amounts have been reclassified to conform to current period presentation. 2004 2003 2002 Income/(loss) before income taxes Automotive sector $ (155) $ (1,908) $ (1,054) Financial Services sector 5,008 3,247 2,118 Total Company 4,853 1,339 1,064 Provision for/(benefit from) income taxes 937 123 342 Minority interests in net income/(loss) of subsidiaries a/ 282 314 367 Income/(loss) from continuing operations 3,634 902 355 Income/(loss) from discontinued operations  (147)  (143)  (333) Cumulative effect of change in accounting principle b/ -  (264) (1,002) Net income/(loss) $ 3,487 $  495 $  (980) Automotive sector Ford North America: Allowance for Visteon receivable $ (600) Fuel-cell technology charges (182) Ford Europe: improvement plans (49) PAG: improvement plans (110) Ford Asia Pacific and Africa: disposition of non-core businesses (81) Other Automotive: disposition of non-core businesses 17 Total Automotive sector (1,005) Financial Services sector Property clean-up settlement 45 Total Company $ (960) 2 5