2023 Outlook and Advancing The Ford Plan: Electrification
Effective Tax Rate Reconciliation To
Adjusted Effective Tax Rate
Pre-Tax Results ($M)
Income (Loss) before income taxes (GAAP)
Less: Impact of special items
Adjusted earnings before taxes (Non-GAAP)
Taxes ($M)
(Provision for) / Benefit from income taxes (GAAP)
Less: Impact of special items *
Adjusted (provision for) / benefit from income taxes (Non-GAAP)
Tax Rate (%)
Effective tax rate (GAAP)
Adjusted effective tax rate (Non-GAAP)
2022
Memo:
Q4
Full Year
Full Year 2021
SA
$
1,166
$
(3,016)
17,780
(1,080)
(12,172)
9,583
$
2,246
$
9,156
$
8,197
$
93
S
864
EA
$
130
300
2,573
1,924
SA
$
(207)
$
(1,709)
$
(1,794)
(8.0) %
9.2
28.6 %
(0.7) %
18.7
21.9
Ford
SECRET
2021 reflects a benefit from recognizing deferred tax assets and favorable changes in our valuation allowances offset by the tax consequences of unrealized gains on marketable securities; 2022 reflects the
tax consequences of unrealized losses on marketable securities and favorable changes in our valuation allowances
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