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Jules Financial Enterprise

2755 South Federal Highway Suite #4, Boynton Beach, FL 33435
Contact Person: Job J. Jules
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P: 561-234-6700

Ford to take pension-related $1.5 billion charge in Q4

Economy, Finance

Ford Motor Co. said late Thursday it expects to take a $1.5 billion pre-tax hit related to its pension plans in the U.S. and overseas. That will reduce the auto maker’s net income by about $1.2 billion, but not impact adjusted EBIT or per-share adjusted earnings because of the way it accounts for the benefits, Ford said in a filing. In the same filing, Ford said it will be replacing certain Takata airbag inflators in vehicles including the Ford Ranger, Fusion, and others in model years 2006 through 2012. That will affect about 2.7 million vehicles in the U.S. and 300,000 vehicles in Canada and elsewhere, at a cost of about $610 million. That expense will be treated as a special item in the fourth quarter, the company said. Shares of Ford fell 0.4% in the extended session Thursday after ending the regular trading day rallying 6%.

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