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Events that trigger a test for recoverability include material adverse changes in projected revenues and expenses, present cash flow losses combined with a history of present cash flow losses and a forecast that demonstrates significant continuing losses, significant negative industry or economic trends, a current expectation that a long-lived asset group will be disposed of significantly before the end of its useful life, a significant adverse change in the manner in which an asset group is used or in its physical condition, or when there is a change in the asset grouping.
The detail for the changes is shown below (in billions): We consider an accounting estimate to be critical if: (1) the accounting estimate requires us to make assumptions about matters that were highly uncertain at the time the accounting estimate was made, and (2) changes in the estimate that are reasonably likely to occur from period to period, or use of different estimates that we reasonably could have used in the current period, would have a material impact on our financial condition or results of operations.
Our actual results could differ materially from our guidance due to risks, uncertainties, and other factors, including those set forth in "Risk Factors" in Item 1A of Part I. Adjusted Free Cash Flow* $2.4 - $3.4 billion Adjusted EBIT* Adjusted EPS* $0.94 - $1.20 Capital spending Pension contributions $0.6 - $0.8 billion Regular Dividend** Adjusted Effective Tax Rate* Mid-to-High Teens Global Redesign EBIT charges Global Redesign cash effects $(0.8) - $(1.3) billion Ford Credit auction values Down about 5% *** * When we provide guidance for Adjusted Free Cash Flow, Adjusted EBIT, Adjusted EPS, and Adjusted Effective Tax Rate, we do not provide guidance for the most comparable GAAP measures because, as described in more detail below in "Non-GAAP Measures That Supplement GAAP Measures," they include items that are difficult to predict with reasonable certainty.
The estimation of our defined benefit pension and OPEB plan obligations and expenses requires that we make use of estimates of the present value of the projected future payments to all participants, taking into consideration the likelihood of potential future events such as demographic experience and health care cost increases.
Specifically, we include in cost of sales each of the following: material costs (including commodity costs); freight costs; warranty, including product recall costs; labor and other costs related to the development and manufacture of our products; depreciation and amortization; and other associated costs.
In Asia Pacific, a weak...Read more
The corporate credit facility is...Read more
In North America and Europe,...Read more
As reported on our Consolidated...Read more
At December 31, 2019, Ford...Read more
Net income margin was 0.0...Read more
Asia Pacific Operations' 2019 EBIT...Read more
These macroeconomic assumptions include, but...Read more
China's 2019 EBIT loss narrowed...Read more
In Europe, 2019 wholesales declined...Read more
In 2019, wholesales in our...Read more
Company Adjusted EBIT Margin (Most...Read more
For additional information, refer to...Read more
The table below estimates the...Read more
Our discount rate assumption is...Read more
For 2020, the expected long-term...Read more
Ford Credit's EBT improvement was...Read more
The Financial Accounting Standards Board...Read more
Projections of future taxable income...Read more
Assumptions are set at each...Read more
As a result, we analyze...Read more
Changes in estimates used in...Read more
This year-over-year improvement was driven...Read more
Full year 2019 revenue declined...Read more
The decline was driven by...Read more
Europe's 2019 EBIT loss improved...Read more
Our Automotive segment's material and...Read more
Our full year 2019 Automotive...Read more
The related shifts in capital...Read more
Net income margin was 2.3...Read more
Company adjusted EBIT margin was...Read more
Structural costs include the following...Read more
Adjusted Free Cash Flow Conversion...Read more
Pre-tax special items consist of...Read more
Full year 2019 consolidated revenue...Read more
In most markets, exchange rates...Read more
Full year 2019 revenue declined...Read more
The imposition of tariffs on...Read more
Changes in the assumptions used...Read more
Company adjusted EBIT decreased about...Read more
The calendarization of the funding...Read more
This non-GAAP measure is useful...Read more
Higher net pricing and favorable...Read more
Volume / Mix as well...Read more
Exchange was unfavorable, and other...Read more
The eventual implications of higher...Read more
This redesign includes changes to...Read more
A specific allowance is estimated...Read more
Automotive EBIT benefited from the...Read more
Ford Credit's loss metrics reflected...Read more
Our full year 2018 interest...Read more
The year-over-year decline in net...Read more
Favorable mix was more than...Read more
The sensitivity of pension expense...Read more
The impact of the change...Read more
The non-GAAP financial measures listed...Read more
An LTR for each product...Read more
Full year 2019 revenue declined...Read more
Full year 2019 revenue declined...Read more
This measure is useful to...Read more
Because credit losses can vary...Read more
During 2018, we embarked on...Read more
In our Asia Pacific Operations,...Read more
South America's 2019 EBIT loss...Read more
For full year 2018, revenue...Read more
The measure is useful to...Read more
For full year 2019, revenue...Read more
We regularly evaluate the appropriate...Read more
This positive maturity profile is...Read more
For example, in North America,...Read more
We employ a broad global...Read more
The loans are analyzed to...Read more
Full year 2019 interest expense...Read more
Full year 2019 revenue increased...Read more
We believe that these non-GAAP...Read more
Proceeds from the sale of...Read more
The weighted average discount rate...Read more
If Ford Credit believes that...Read more
Based on our planning assumptions,...Read more
The measure contains elements management...Read more
Ford Credit delivered $3 billion...Read more
For example, structural costs are...Read more
Operating items include: Company adjusted...Read more
Ford Credit's primary funding objective...Read more
In China, 2019 wholesales declined...Read more
At December 31, 2019, total...Read more
Over the long term, intense...Read more
Net income attributable to Ford...Read more
As a result, our cash...Read more
Includes debt issued in securitizations...Read more
In general, larger vehicles tend...Read more
The growth rate is the...Read more
Costs were higher, driven by...Read more
According to production capacity data...Read more
Annual production volumes are heavily...Read more
The fixed income mix in...Read more
The fixed income mix in...Read more
The measure provides an ongoing...Read more
Middle East & Africa was...Read more
This assessment, which is completed...Read more
See Note 11 of the...Read more
When we provide guidance for...Read more
After establishing the collective and...Read more
After establishing the collective and...Read more
Financing margin yield equals revenue,...Read more
FSM designs and builds mobility...Read more
Previously, we presented the early...Read more
We also have varying degrees...Read more
For accounts greater than 120...Read more
We measure the fair value...Read more
For analysis purposes, management splits...Read more
Our strategy is to reduce...Read more
* Includes finance receivables (retail...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
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Ford Motor Co provided additional information to their SEC Filing as exhibits
Ticker: F
CIK: 37996
Form Type: 10-K Annual Report
Accession Number: 0000037996-20-000010
Submitted to the SEC: Wed Feb 05 2020 12:01:22 PM EST
Accepted by the SEC: Wed Feb 05 2020
Period: Tuesday, December 31, 2019
Industry: Motor Vehicles And Passenger Car Bodies