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Ford Motor Co's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:
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69 As a result of the January 1, 2020 adoption of the current expected credit loss ("CECL") standard (ASU 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments), we are updating the Critical Accounting Estimate disclosure in our 2019 Form 10-K Report as follows: The allowance for credit losses represents Ford Credit's estimate of the expected lifetime credit losses inherent in finance receivables as of the balance sheet date.
The decline in both cash flows was more than explained by the earnings impact of COVID-19 and the decline in production supplier payables from a year ago due to the suspension of manufacturing operations in March.
The corporate credit facility is unsecured and free of material adverse change conditions to borrowing, restrictive financial covenants (for example, interest or fixed-charge coverage ratio, debt-to-equity ratio, and minimum net worth requirements), and credit rating triggers that could limit our ability to obtain funding or trigger early repayment.
50 As reported on our Consolidated Statement of Cash Flows, our first quarter 2020 Net cash provided by/(used in) operating activities was down $4 billion year over year.
The lower EBIT was driven by lower volume, higher new model material cost, higher warranty, and adverse exchange, partially offset by lower structural cost and commodities.
61 Adjusted Free Cash Flow...Read more
The effect of the indicated...Read more
Company Adjusted EBIT Margin (Most...Read more
Company adjusted EBIT margin was...Read more
Our International Market Group's first...Read more
The lower EBIT was more...Read more
At March 31, 2020, we...Read more
Further, we announced that we...Read more
Net income/(loss) margin was negative...Read more
Structural costs include the following...Read more
North America's first quarter 2020...Read more
Europe's first quarter 2020 EBIT...Read more
Pre-tax special items consist of...Read more
The higher EBIT loss was...Read more
The $3.1 billion year-over-year decline...Read more
Our 29 percent decline in...Read more
* When we provide guidance...Read more
The calendarization of the funding...Read more
We believe this, together with...Read more
The lower EBIT was driven...Read more
The impact on net income/(loss)...Read more
This non-GAAP measure is useful...Read more
Accordingly, the ultimate impact on...Read more
Accordingly, on March 19, 2020,...Read more
In aggregate, drawing on our...Read more
First quarter 2020 all other...Read more
China's first quarter 2020 EBIT...Read more
First quarter 2020 revenue decreased...Read more
The non-GAAP measures listed below...Read more
This measure is useful to...Read more
Company cash at March 31,...Read more
First quarter 2020 revenue decreased...Read more
Because credit losses can vary...Read more
Our actual results could differ...Read more
In the first quarter of...Read more
First quarter 2020 Automotive revenue...Read more
With our current balance of...Read more
The measure is useful to...Read more
In our International Markets Group,...Read more
First quarter 2020 revenue decreased...Read more
We believe that these non-GAAP...Read more
The measure contains elements management...Read more
** Includes asset-backed capacity in...Read more
Ford Credit's funding plan is...Read more
Operating items include: Company adjusted...Read more
In China, compared with a...Read more
As a result, our cash...Read more
UAW Retirement Buyout and Chariot...Read more
Includes debt issued in securitizations...Read more
Ford Credit's receivables declined year...Read more
The tables below and on...Read more
The lower EBIT was driven...Read more
Our first quarter 2020 Automotive...Read more
The measure provides an ongoing...Read more
This positive maturity profile is...Read more
When we provide guidance for...Read more
Financing margin yield equals revenue,...Read more
Both net income/(loss) and Company...Read more
FSM designs and builds mobility...Read more
For analysis purposes, management splits...Read more
The higher loss is more...Read more
Financial Statements, Disclosures and Schedules
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Ford Motor Co provided additional information to their SEC Filing as exhibits
Ticker: F
CIK: 37996
Form Type: 10-Q Quarterly Report
Accession Number: 0000037996-20-000041
Submitted to the SEC: Tue Apr 28 2020 7:03:29 PM EST
Accepted by the SEC: Wed Apr 29 2020
Period: Tuesday, March 31, 2020
Industry: Motor Vehicles And Passenger Car Bodies