Ford Announces 2016 Pension Remeasurement Charge in Advance of Earnings Next Week
On Jan. 20, Ford announced its annual mark-to-market pension accounting adjustment for 2016. The firm will take a $3 billion noncash pretax charge in special items to remeasure its global pension and other postemployment benefit plans with about $1.9 billion of the amount coming from international plans. The charge is mostly due to lower discount rates compared with year-end 2015. Global pension underfunding is expected to increase to $8.9 billion at year-end 2016 from $8.2 billion at year-end 2...Ford Motor designs, manufactures, markets, and services a line of Ford cars, trucks, sport utility vehicles, electrified vehicles, and Lincoln vehicles, as well as provides financial services through its subsidiary, Ford Motor Credit Company LLC. The company is engaged in electrification; mobility solutions, including self-driving services; and connected vehicle services. The company has three operating segments: Automotive, which includes the sale of Ford and Lincoln vehicles, service parts, and accessories; Mobility, which includes its autonomous vehicles and its investment in mobility through Ford Smart Mobility LLC; and Ford Credit, which includes vehicle-related financing and leasing activities.
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