Quarterly Financial Results
Company
Effective Tax Rate Reconciliation To Adjusted Effective Tax Rate
Q1 2023
Full Year 2022
Pre-Tax Results ($M)
Income (Loss) before income taxes (GAAP)
$
2,159
$
(3,016)
Less: Impact of special items
(912)
(12,172)
Adjusted earnings before taxes (Non-GAAP)
$
3,071
$
9,156
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)
$
(496) $
SA
864
144
2,573
(640)
$
(1,709)
23.0 %
20.8 %
28.6 %
18.7 %
Ford
2022 reflects the tax
consequences of unrealized
losses on marketable
securities and fourth quarter
favorable changes in our
valuation allowances
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