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Ford Motor Company | 2013 Annual Report 17
Management’s Discussion and Analysis of Financial Condition and Results of Operations (Continued)
RESULTS OF OPERATIONS
TOTAL COMPANY
Our net income attributable to Ford Motor Company was $7.2 billion or $1.76 per share of Common and Class B
Stock in 2013, an improvement of $1.5 billion or $0.34 per share from 2012.
Total Company results are shown below:
2013 2012 2011
(Mils.) (Mils.) (Mils.)
Income
Pre-tax results (excl. special items) $ 8,569 $7,966 $ 8,763
Special items (1,568) (246)(82)
Pre-tax results (incl. special items) 7,001 7,720 8,681
(Provision for)/Benefit from income taxes 147 (2,056) 11,541
Net income 7,148 5,664 20,222
Less: Income/(Loss) attributable to noncontrolling interests (7) (1) 9
Net income attributable to Ford $7,155 $5,665 $ 20,213
Net income includes certain items (“special items”) that we have grouped into “Personnel and Dealer-Related Items”
and “Other Items” to provide useful information to investors about the nature of the special items. The first category
includes items related to our efforts to match production capacity and cost structure to market demand and changing
model mix and therefore helps investors track amounts related to those activities. The second category includes items
that we do not generally consider to be indicative of our ongoing operating activities, and therefore allows investors
analyzing our pre-tax results to identify certain infrequent significant items that they may wish to exclude when considering
the trend of ongoing operating results.
As detailed in Note 26 of the Notes to the Financial Statements, we allocate special items to a separate reconciling
item, as opposed to allocating them among the operating segments and Other Automotive, reflecting the fact that
management excludes these items from its review of operating segment results for purposes of measuring segment
profitability and allocating resources among the segments.
The following table details Automotive sector pre-tax special items in each category:
2013 2012 2011
(Mils.) (Mils.) (Mils.)
Personnel and Dealer-Related Items
Separation-related actions (a) $ (856) $ (481) $ (176)
Mercury discontinuation/Other dealer actions — (71) (151)
Total Personnel and Dealer-Related Items (856)(552) (327)
Other Items
U.S. pension lump-sum program (594)(250) —
FCTA -- subsidiary liquidation (103) (4) —
CFMA restructuring — 625 —
Loss on sale of two component businesses — (174) —
AAI consolidation (b) — 136 —
FordSollers gain — — 401
Belgium pension settlement — — (109)
Debt reduction actions — — (60)
Other (15)(27) 13
Total Other Items (712)306 245
Total Special Items $ (1,568) $ (246) $ (82)
__________
(a) For 2013, primarily related to separation costs for personnel at the Genk and U.K. facilities.
(b) The special item of $136 million is comprised of the $155 million gain from the consolidation of AAI (see Note 23 of the Notes to the Financial
Statements), less a related $19 million adjustment for sales in September 2012 of Ford-brand vehicles produced by AAI.
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