|
 NEWS
 
 
 
 
 
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Ford Posts Highest Fourth Quarter Pre-Tax Profit in More Than a Decade; Full Year Pre-Tax Profit of $8 Billion and Net Income of $5.7 Billion+ 
Strong full year pre-tax profit was $8 billion, or $1.41 per share, a decrease of $797 million from a year ago
Full year net income was $5.7 billion, or $1.42 per share; excluding impact of 2011 changes in valuation allowance against deferred tax assets, full year 2012 net income was $307 million lower than 2011
Positive Automotive operating-related cash flow was $3.4 billion for the full year and $1 billion for the fourth quarter — the 11th consecutive quarter of positive performance. Ford ended 2012 with Automotive gross cash of $24.3 billion, exceeding debt by $10 billion, and a strong liquidity position of $34.5 billion, an increase of $2.1 billion over 2011
Ford had its highest fourth quarter pre-tax profit in more than a decade — when trucks and SUVs were a more significant portion of the U.S. product mix — at $1.7 billion, or $0.31 per share, an increase of $577 million from fourth quarter 2011. Ford has now posted a pre-tax operating profit for 14 consecutive quarters
Total company fourth quarter net income was $1.6 billion, or $0.40 per share; excluding impact of 2011 changes in valuation allowance against deferred tax assets, fourth quarter net income was $565 million higher than 2011
Total Automotive full-year pre-tax profit of $6.3 billion was driven by Ford North America results, which set fourth quarter and full year records for pre-tax profit and operating margin since Ford began reflecting the region as a separate business unit in 2000. For the full year, Ford North America's pre-tax profit was $8.3 billion with an operating margin of 10.4 percent
Ford Credit reported continued solid performance with a full year pre-tax profit of $1.7 billion
For 2013 outlook, Ford expects another strong year, with Total Company operating profit to be about equal to 2012, Automotive operating margin to be about equal to or lower than 2012, and Automotive operating-related cash flow to be higher than 2012
Financial Results Summary +
 
Fourth Quarter
 
Full Year
 
 
2011
 
2012
 
B/(W) 2011
 
2011
 
2012
 
B/(W) 2011
Wholesales (000)
 
1,427

 
1,534

 
107

 
5,695

 
5,668

 
(27)

Revenue (Bils.)
 
$
34.6

 
$
36.5

 
$
1.9

 
$
136.3

 
$
134.3

 
$
(2.0
)
Operating Results
 
 
 
 
 


 
 
 
 
 


Pre-tax results (Mils.)++
 
$
1,104

 
$
1,681

 
$
577

 
$
8,763

 
$
7,966

 
$
(797
)
After-tax results (Mils.)+++
 
797

 
1,241

 
444

 
6,119

 
5,596

 
(523
)
Earnings per share+++
 
0.20

 
0.31

 
0.11

 
1.51

 
1.41

 
(0.10
)
Special items pre-tax (Mils.)
 
$
349

 
$
160

 
$
(189
)
 
$
(82
)
 
$
(246
)
 
$
(164
)
Net income attributable to Ford -- excl. 2011 changes in val. allow. against deferred tax assets
 
 
 
 
 
 
 
 
 
 
 
 
After-tax results (Mils.)
 
$
1,033

 
$
1,598

 
$
565

 
$
5,972

 
$
5,665

 
$
(307
)
Net income attributable to Ford
 
 
 
 
 


 
 
 
 
 


After-tax results (Mils.)
 
$
13,615

 
$
1,598

 
$
(12,017
)
 
$
20,213

 
$
5,665

 
$
(14,548
)
Earnings per share
 
3.40

 
0.40

 
(3.00
)
 
4.94

 
1.42

 
(3.52
)
Automotive
 
 
 
 
 


 
 
 
 
 


Operating-related cash flow (Bils.)
 
$
0.7

 
$
1.0

 
$
0.3

 
$
5.6

 
$
3.4

 
$
(2.2
)
Gross cash (Bils.)
 
$
22.9

 
$
24.3

 
$
1.4

 
$
22.9

 
$
24.3

 
$
1.4

Debt (Bils.)
 
(13.1
)
 
(14.3
)
 
(1.2
)
 
(13.1
)
 
(14.3
)
 
(1.2
)
  Net cash (Bils.)
 
$
9.8

 
$
10.0


$
0.2


$
9.8


$
10.0


$
0.2

See end notes on page 7.

1
For news releases, related materials and high-resolution photos and video, visit www.media.ford.com.
Follow at www.facebook.com/ford, www.twitter.com/ford or www.youtube.com/fordvideo1




The following information was filed by Ford Motor Co (F) on Tuesday, January 29, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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