0000037996-17-000006.txt : 20170120 0000037996-17-000006.hdr.sgml : 20170120 20170120080027 ACCESSION NUMBER: 0000037996-17-000006 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20170120 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20170120 DATE AS OF CHANGE: 20170120 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FORD MOTOR CO CENTRAL INDEX KEY: 0000037996 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLES & PASSENGER CAR BODIES [3711] IRS NUMBER: 380549190 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03950 FILM NUMBER: 17537527 BUSINESS ADDRESS: STREET 1: ONE AMERICAN ROAD CITY: DEARBORN STATE: MI ZIP: 48126 BUSINESS PHONE: 3133223000 MAIL ADDRESS: STREET 1: ONE AMERICAN RD CITY: DEARBORN STATE: MI ZIP: 48126 8-K 1 pensionremeasurement8-kdat.htm 8-K Document





UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549




FORM 8-K


CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934


Date of Report: January 20, 2017
(Date of earliest event reported)


FORD MOTOR COMPANY
(Exact name of registrant as specified in its charter)


Delaware
(State or other jurisdiction of incorporation)



1-3950
38-0549190
(Commission File Number)
(IRS Employer Identification No.)
 
 
One American Road, Dearborn, Michigan
48126
(Address of principal executive offices)
(Zip Code)



Registrant’s telephone number, including area code 313-322-3000


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


[ ]    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ]    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ]    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
[ ]    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))







Item 7.01. Regulation FD Disclosure.

Ford Motor Company adopted the mark-to-market method of accounting for pension and other postretirement employee benefits (OPEB) on December 31, 2015. Under this method, we recognize pension and OPEB remeasurement gains and losses in income in the year incurred (generally in the fourth quarter) rather than amortizing them over many years. The remeasurement gain or loss is recognized centrally each year instead of in our automotive business units and is reported as a special item since it is not reflective of the underlying operating results of our automotive business.

For the year ended December 31, 2016, we expect to record a pre-tax remeasurement loss of approximately $3.0 billion related to our pension plans and OPEB plans. Of this total, $0.9 billion is associated with pension plans in the United States, $1.9 billion with pension plans outside the United States, and $0.2 billion with OPEB plans globally. The remeasurement loss is largely driven by lower discount rates compared with year-end 2015, offset partially by asset gains in excess of our assumptions. Because the remeasurement loss is a special item, it will not impact our total Company adjusted pre-tax profit or adjusted earnings per share. Full-year results will be announced on January 26, 2017; we continue to expect to meet our guidance of about $10.2 billion for total Company adjusted pre-tax profit in 2016.

On an after-tax basis, the remeasurement loss will reduce our full-year net income by about $2.0 billion in 2016.

Including the impact of this remeasurement loss, we expect our underfunded status at year-end 2016 for our pension plans and OPEB plans to be about $8.9 billion and $5.9 billion, respectively. At year-end 2015, the underfunded status of our pension plans and OPEB plans was $8.2 billion and $5.7 billion, respectively. The change to the underfunded status of our pension plans primarily reflects the effect of lower discount rates, particularly in Europe where our pension plans are less funded and de-risked compared with our pension plans in the United States, and the change to the underfunded status of our OPEB plans primarily reflects the effect of lower discount rates on our unfunded OPEB plans globally.

    

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
 
FORD MOTOR COMPANY
 
 
(Registrant)
 
 
 
Date: January 20, 2017
By:
/s/ Corey M. MacGillivray
 
 
Corey M. MacGillivray

 
 
Assistant Secretary