Ford 2013 Annual Report Download - page 51

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Ford Motor Company | 2013 Annual Report 49
Management’s Discussion and Analysis of Financial Condition and Results of Operations (Continued)
2013 PLANNING ASSUMPTIONS AND KEY METRICS
The following summarizes results against planning assumptions and key metrics established at the beginning of 2013:
2012 2013
Full Year Full Year
Results Plan Results
Planning Assumptions
Industry Volume (a) -- U.S. (Mils.) 14.8 15.0 - 16.0 15.9
-- Europe (Mils.) (b) 14.0 13.0 - 14.0 13.7
-- China (Mils.) 19.0 19.5 - 21.5 22.2
Operational Metrics
Compared with Prior Year:
- Market Share -- U.S. 15.2 % Higher 15.7 %
-- Europe (b) 7.9 About Equal 7.8
-- China (c) 3.2 Higher 4.1
- Quality Mixed Improve Mixed
Financial Metrics
Compared with Prior Year:
- Total Company Pre-Tax Operating Profit (Bils.) (d) $ 8.0 About Equal $ 8.6
- Automotive Operating Margin (e) 5.3 % About Equal / Lower 5.4 %
- Automotive Operating-Related Cash Flow (Bils.) (d) $ 3.4 Higher $ 6.1
__________
(a) Includes medium and heavy trucks.
(b) The 19 markets we tracked.
(c) Includes Ford and JMC brand vehicles produced in China by unconsolidated affiliates.
(d) Excludes special items; reconciliation to GAAP for full-year 2012 and 2013 provided in “Results of Operations” and “Liquidity and Capital
Resources” above.
(e) Automotive operating margin is defined as Automotive pre-tax results, excluding Other Automotive, divided by Automotive revenue.
PRODUCTION VOLUMES (a)
Our 2013 production volumes and first quarter 2014 projected production volumes are as follows (in thousands):
2013 Actual 2014
Fourth Quarter Full Year First Quarter Forecast
Units O/(U) 2012 Units O/(U) 2012 Units O/(U) 2013
North America 756 21 3,111 289 770 (14)
South America 104 (12) 474 57 100 (11)
Europe 333 (7) 1,443 (3) 380 (6)
Asia Pacific Africa 379 77 1,326 303 360 74
Total 1,572 79 6,354 646 1,610 43
__________
(a) Includes production of Ford and JMC brand vehicles produced by our unconsolidated affiliates.
We expect first quarter production to be about 1.6 million units, up 43,000 units from a year ago, reflecting higher
volume in Asia Pacific Africa.
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