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Ford sees $1.7 billion hit to fourth-quarter results
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(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.
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