2023 Outlook and Advancing The Ford Plan: Electrification
Net Income / (Loss) Reconciliation To
Adjusted EBIT ($M)
SECRET
Fourth Quarter
Full Year
2021
2022
2021
2022
Net income/(loss) attributable to Ford (GAAP)
$
Income (Loss) attributable to non-controlling interests
12,282
(9)
$ 1,289
$ 17,937
$ (1,981)
(30)
(27)
(171)
Net income/(loss)
$
12,273
$ 1,259
$
17,910
(2,152)
Less: (Provision for) / Benefit from income taxes
*
1,055
93
130
864
Income (Loss) before income taxes
$
11,218
$ 1,166
$ 17,780
$ (3,016)
Less: Special items pre-tax
9,614
(1,080)
9,583
(12,172)
Income (Loss) before special items pre-tax
Less: Interest on debt
1,604
$
2,246
8,197
$ 9,156
(438)
(318)
(1,803)
(1,259)
$
2,042
$
2,564
$
10,000
$ 10,415
Adjusted EBIT (Non-GAAP)
Memo:
Revenue ($B)
Net income/(loss) margin (GAAP) (%)
Adjusted EBIT margin (%)
$
37.7
$
44.0
136.3
$
158.1
32.6 %
2.9 %
13.2 %
(1.3) %
5.4
5.8
7.3
6.6
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
Ford
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