Today news
About the same in other media
Ford sees $1.7 billion hit to fourth-quarter results
Reading now: 507
(Reuters) -Ford Motor said on Wednesday it expects to record a pre-tax remeasurement loss of about $1.7 billion, related to its employees pension and other post-retirement benefits, in its fourth-quarter results.
On an after-tax basis, Ford (NYSE:F) says the loss will lower its net income by around $1.3 billion.
The Detroit automaker said the loss was driven by lower discount rates from a year ago.
A remeasurement loss relates to losses arising from a company re-evaluating the value of long-term assets or foreign currency.
Ford's announcement comes a week ahead of Detroit rival General Motors (NYSE:GM)' fourth-quarter results and two weeks before its own.
Read more on investing.comAbout this in other media
U.S. economy grew by 3.3% in fourth quarter investing.com /3 months ago
After $70 Billion Hit, Insurers Wake Up to New Patterns of Risk livemint.com /3 months ago
Baillie Gifford to shutter four bond funds and scrap international fixed income business investmentweek.co.uk /3 months ago
Show more
The website fvbb.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
