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Ford Motor Co's Definitive Proxy Statement (Form DEF 14A) filed after their 2023 10-K Annual Report includes:
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For example, the suspension of production at most of our assembly plants and lower industry volumes due to COVID-19 in early 2020 resulted in an initial deterioration of our cash flow, while the subsequent resumption of manufacturing operations and return to pre-COVID-19 production levels at most of our assembly plants resulted in a subsequent improvement of our cash flow.
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 our 2022 Form 10-K Report and as updated by our subsequent filings with the SEC. 2023 Guidance Total Company Adjusted EBIT (a) $9 - $11 billion Adjusted Free Cash Flow (a) About $6 billion Capital spending $8 - $9 billion Ford Credit EBT About $1.3 billion (a)When we provide guidance for adjusted EBIT and adjusted free cash flow, 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 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.
Ford Credit holds the right to receive the excess cash flows not needed to pay the debt issued by, and other obligations of, the securitization entities that are parties to those securitization transactions Earnings Before Taxes ("EBT") - Reflects Ford Credit's income before income taxes Loss-to-Receivables ("LTR") Ratio - LTR ratio is calculated using net charge-offs divided by average finance receivables, excluding unearned interest supplements and the allowance for credit losses Return on Equity ("ROE") (as shown in the Key Metrics table) - Reflects return on equity calculated by annualizing net income for the period and dividing by monthly average equity for the period Securitization and Restricted Cash (as shown in the Liquidity table) - Securitization cash is held for the benefit of the securitization investors (for example, a reserve fund).
The gain is driven by improved pricing and volume, including the benefits from the launch of our all-new Super Duty.
Our first quarter 2023 Net...Read more
Headwinds: Global economic uncertainty Higher...Read more
At March 31, 2023, Ford...Read more
Company adjusted free cash flow...Read more
Any future changes to our...Read more
As a result, our cash...Read more
Net income/(loss) margin was 4.2%...Read more
Company Adjusted EBIT Margin (Most...Read more
Company adjusted EBIT margin was...Read more
The improvement in EBIT was...Read more
Partial offsets included inflationary cost...Read more
As of March 31, 2023,...Read more
The following table summarizes certain...Read more
The higher EBIT was driven...Read more
In the first quarter of...Read more
In the first quarter of...Read more
The year-over-year increase of $1.1...Read more
Ford Blue's first quarter 2023...Read more
Ford Pro's first quarter 2023...Read more
Structural costs include the following...Read more
Moreover, Ford Credit may be...Read more
Moreover, we may be subject...Read more
First quarter 2023 revenue increased...Read more
Ford Credit's total net receivables...Read more
The non-GAAP measures listed below...Read more
For full-year 2023, we continue...Read more
This measure is useful to...Read more
Our finished product inventory at...Read more
Key elements of Ford Credit's...Read more
Ford Credit saw sequential improvement...Read more
57 Effective Tax Rate Reconciliation...Read more
First quarter 2023 working capital...Read more
The lower EBIT was driven...Read more
The measure contains elements management...Read more
We believe that these non-GAAP...Read more
42 LIQUIDITY AND CAPITAL RESOURCES...Read more
Partial offsets included inflationary cost...Read more
Conversely, our cash flow improves...Read more
Partial offsets included lower Ford...Read more
Ford Credit's material cash requirements...Read more
Includes debt issued in securitizations...Read more
Ford Model e's first quarter...Read more
As of March 31, 2023,...Read more
Taxes Our Provision for/(Benefit from)...Read more
The measure provides an ongoing...Read more
Financial institutions participate in a...Read more
The terms and conditions of...Read more
Such actions could have a...Read more
When we provide guidance for...Read more
Operating items include: Company adjusted...Read more
For analysis purposes, management splits...Read more
The year-over-year increase of $4.9...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly 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-Q Quarterly Report
Accession Number: 0000037996-23-000029
Submitted to the SEC: Tue May 02 2023 7:08:40 PM EST
Accepted by the SEC: Wed May 03 2023
Period: Friday, March 31, 2023
Industry: Motor Vehicles And Passenger Car Bodies