Summary
Ford Motor Company filed an 8-K report on January 29, 2013, to announce its preliminary fourth quarter and full year 2012 financial results. The report references a news release (Exhibit 99) that details these results and provides context for their presentation. Ford is holding two conference calls on the same day to discuss these preliminary findings with the investment community, news media, and fixed income analysts. The company explicitly notes that the financial measures discussed in Exhibit 99 will be presented "excluding special items" and with other adjustments. Ford believes these adjusted measures are useful for investors as they allow for an evaluation of results that exclude items related to capacity/cost adjustments and other factors not indicative of ongoing operations. The report also highlights key cash metrics, including Automotive operating-related cash flow and Automotive gross cash, with explanations on why these non-GAAP measures are considered informative by the company.
Key Highlights
- 1Ford announced preliminary Q4 and full-year 2012 financial results via an 8-K filing on January 29, 2013.
- 2The company is hosting two conference calls on January 29, 2013, to discuss these results with investors and analysts.
- 3Financial results will be presented using non-GAAP measures, excluding special items and other adjustments, which Ford believes provide a clearer view of ongoing operations.
- 4Key adjusted financial metrics to be discussed include Automotive operating-related cash flow and Automotive gross cash.
- 5Ford is providing detailed information on how to access conference calls, webcasts, and replays for interested parties.
- 6The report emphasizes the company's rationale for using adjusted financial metrics, focusing on comparability and the exclusion of specific business adjustments.