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Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Ford Motor Co.
Ford Motor Co's Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:
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The detail for the changes is shown below (in billions): CRITICAL ACCOUNTING ESTIMATES 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.
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 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 suspension of production at most of our assembly plants earlier in the year and lower industry volumes due to COVID-19 resulted in a deterioration of our cash flow in the second quarter of 2020, while the subsequent resumption of manufacturing operations and return to pre-COVID-19 production levels at most of our assembly plants resulted in an improvement of our cash flow in the third quarter of 2020.
The table below estimates the effect on 2021 OPEB expense of higher/lower assumptions for these factors (in millions): Worldwide OPEBBasis Point Change(Increase)/Decrease 2020 YE ObligationIncrease/(Decrease) 2020 ExpenseFactorDiscount rate - obligation+/- 100 bps$750/$(950)N/AInterest rate - service cost and interest cost+/- 25N/A$10/$(10) Worldwide OPEB Basis Point Change (Increase)/Decrease 2020 YE Obligation Increase/(Decrease) 2020 Expense Factor Discount rate - obligation +/- 100 bps $750/$(950) N/A Interest rate - service cost and interest cost +/- 25 N/A $10/$(10) Income Taxes Nature of Estimates Required.
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...Read more
Ford Credit's 2020 EBT decreased...Read more
In Asia Pacific, a weak...Read more
The corporate credit facility is...Read more
ACCOUNTING STANDARDS ISSUED BUT NOT...Read more
We previously announced our plan...Read more
We previously announced our plan...Read more
In North America and Europe,...Read more
Our full year 2020 Net...Read more
For 2021, the expected long-term...Read more
Net income margin was 0.0...Read more
Allowance for Credit Losses The...Read more
Full year 2020 all other...Read more
These macroeconomic assumptions include, but...Read more
The table below estimates the...Read more
The situation is fluid and...Read more
Company Adjusted EBIT Margin (Most...Read more
Full year 2019 revenue declined...Read more
Our discount rate assumptions are...Read more
However, the ultimate realization of...Read more
In Europe, 2019 wholesales declined...Read more
In 2019, wholesales in our...Read more
Projections of future taxable income...Read more
China's 2019 EBIT loss narrowed...Read more
Assumptions are set at each...Read more
As a result, we analyze...Read more
Changes in estimates used in...Read more
Full year 2019 consolidated revenue...Read more
As discussed in more detail...Read more
The cost of recall and...Read more
Effective Tax Rate Reconciliation to...Read more
At December 31, 2020, we...Read more
The related shifts in capital...Read more
Europe's 2020 EBIT decreased $957...Read more
Net income/(loss) margin was negative...Read more
The year-over-year reduction reflects unavoidable...Read more
Company adjusted EBIT margin was...Read more
Structural costs include the following...Read more
Our full year 2019 Automotive...Read more
Further, the terms of the...Read more
In most markets, exchange rates...Read more
Prices for other commodities have...Read more
Full year 2019 revenue declined...Read more
Full year 2019 revenue declined...Read more
The calendarization of the funding...Read more
Company adjusted EBIT margin was...Read more
Our full year 2020 Automotive...Read more
Higher net pricing and favorable...Read more
Company adjusted EBIT decreased about...Read more
At December 31, 2020, we...Read more
Exchange was unfavorable, and other...Read more
The eventual implications of higher...Read more
Ford Credit's loss metrics in...Read more
During 2020, we experienced triggering...Read more
Our Automotive segment's material and...Read more
South America's 2019 EBIT loss...Read more
The improved EBIT was driven...Read more
Our full year 2020 interest...Read more
The U.S. Federal Reserve lowered...Read more
Favorable mix was more than...Read more
The sensitivity of pension expense...Read more
North America In North America,...Read more
South America In South America,...Read more
In our International Markets Group,...Read more
The impact of the change...Read more
Full year 2020 revenue declined...Read more
Full year 2020 revenue declined...Read more
The non-GAAP measures listed below...Read more
Full year 2020 working capital...Read more
North America's 2020 EBIT decreased...Read more
This measure is useful to...Read more
Because credit losses can vary...Read more
Structural costs were significantly lower,...Read more
The terms and conditions of...Read more
In China, 2020 wholesales increased...Read more
The measure is useful to...Read more
For full year 2019, revenue...Read more
We make these estimates and...Read more
Ford Credit delivered $3 billion...Read more
Higher net pricing, favorable mix,...Read more
Further, if new strains of...Read more
For full year 2020, revenue...Read more
For example, in North America,...Read more
We employ a broad de-risking...Read more
We believe that these non-GAAP...Read more
The improved EBIT was driven...Read more
Moreover, new restrictions could have...Read more
Proceeds from the sale of...Read more
The weighted average discount rate...Read more
If Ford Credit believes that...Read more
Ford Credit holds the right...Read more
In our International Markets Group,...Read more
The measure contains elements management...Read more
For example, structural costs are...Read more
Operating items include: Company adjusted...Read more
Key elements of Ford Credit's...Read more
Changes in assumptions affect Ford...Read more
When there is a change...Read more
Over the long term, intense...Read more
Full year 2020 Automotive revenue...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
As of December 31, 2020,...Read more
In the first quarter of...Read more
In Europe, 2020 wholesales declined...Read more
Annual production volumes are heavily...Read more
The measure provides an ongoing...Read more
A financial institution offers a...Read more
Revenue from certain vehicles in...Read more
This positive maturity profile is...Read more
This assessment, which is completed...Read more
See Note 10 of the...Read more
When we provide guidance for...Read more
In China, 2019 wholesales declined...Read more
Financing margin yield equals revenue,...Read more
We also have varying degrees...Read more
We measure the fair value...Read more
For analysis purposes, management splits...Read more
Full year 2019 revenue increased...Read more
Our strategy is to reduce...Read more
Ford Credit Net Receivables Reconciliation...Read more
Interest on Debt Our full...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
Ford Motor Co provided additional information to their SEC Filing as exhibits
Ticker: F
CIK: 37996
Form Type: 10-K Annual Report
Accession Number: 0000037996-21-000012
Submitted to the SEC: Thu Feb 04 2021 6:58:09 PM EST
Accepted by the SEC: Fri Feb 05 2021
Period: Thursday, December 31, 2020
Industry: Motor Vehicles And Passenger Car Bodies