Ford 2011 Annual Report Download - page 6

Download and view the complete annual report

Please find page 6 of the 2011 Ford annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 188

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188

4 Ford Motor Company | 2011 Annual Report
FORD’S SENIOR
MANAGEMENT
TEAM
The senior management team continues to
successfully advance the company’s One
Ford global plan. Pictured with the all-new
Ford Fusion and Focus ST from left to right:
John Fleming, Robert Brown, David Leitch,
Lewis Booth, Bennie Fowler, Joe Hinrichs,
Derrick Kuzak, Mark Fields, Alan Mulally,
Mike Bannister, Ray Day, Stephen Odell,
Jim Farley, Felicia Fields, Nick Smither,
Ziad Ojakli and Tony Brown.
Strong Business*
Our 2011 full year pre-tax operating profit was $8.8 billion, or $1.51 per share,
an increase of $463 million from a year ago. Strong results from North
America and Ford Credit offset challenges in other parts of the world. Overall
it was our most profitable year since 1998.
Our North American operations had a pre-tax operating profit of $6.2 billion
in 2011, compared to a profit of $5.4 billion a year ago. While down from
the previous year, Ford Credit’s pre-tax operating profit of $2.4 billion also
contributed significantly to our full year results.
We made substantial investments in our future in 2011, but it also was a
milestone year in our efforts to strengthen our balance sheet. We ended the
year with $32.4 billion in total Automotive liquidity. Automotive debt was
$13.1 billion, a reduction of $6 billion for the year. Automotive gross cash was
$22.9 billion; exceeding debt by $9.8 billion, which was an improvement of
$8.4 billion for the year.
In 2011 we signed a four-year agreement with the United Auto Workers
that will help us improve our global competitiveness. As a result, we
will be investing $16 billion in the U.S. and adding new jobs at our U.S.
manufacturing facilities.
Because of our continuing improvement in 2011, by the end of the year we
were able to announce the reinstatement of paying a quarterly dividend to
our shareholders for the first time since 2006. Restoring the dividend is an
important sign of our progress in achieving profitable growth for all.
Better World
We believe the challenges we face as a society present us with an
opportunity to add value for everyone, including our shareholders.