Ford Says It Will Take A $2.2 Billion 4th Quarter Hit Because Of Pension Benefits

Ford Motor Co. on Wednesday said it will take a fourth-quarter financial hit of about $2.2 billion for how it accounts for liabilities on employee pension plans and retirement benefits.

The automaker, in a filing with the Securities and Exchange Commission, said the hit includes a $2 billion loss associated with pension plans outside the country. It also includes a $600 million loss associated with post-retirement employee benefit plans globally, although that was partially offset by a $400 million gain associated with pension plans in the U.S.

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Dutchman - 1/23/2020 10:14:24 AM

+1 Boost

Union brutality. Because every employee should be able to cover every member of their family for life. Oh and get a free car for life and a check for life.

monster - 1/23/2020 9:48:00 PM

+1 Boost

Didn't Ford agree to this when they signed up for pension for their employees years ago? So why is it a problem when it is time to payback.

PUGPROUD - 1/23/2020 11:35:09 AM

0 Boost

On the surface this appears to be mismanagement of the international pension investment portfolio of major proportions. Heads will roll, deservedly so.

carloslassiter - 1/25/2020 11:50:46 AM

+1 Boost

Didn't Ford agree to this when they signed up for pension for their employees years ago? So why is it a problem when it is time to payback.
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Because the guys who agreed to this knew they wouldn't be around / responsible when the bill came due.

MDarringer - 1/25/2020 12:14:23 PM

+1 Boost

#BINGO @carlos