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4 Ford Motor Company | 2012 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 Ford
Escape, all-new Transit Connect
and Fiesta ST from left to right:
Bob Shanks, Jim Farley,
Ray Day, Tony Brown, Nick Smither,
Felicia Fields, David Schoch,
Stephen Odell, Mark Fields,
Alan Mulally, Bernard Silverstone,
Joe Hinrichs, Ziad Ojakli,
Robert Brown, David Leitch,
Bennie Fowler, Raj Nair and
John Fleming.
Strong Business
Our 2012 full year pre-tax operating profit, excluding special items, was
$8 billion, or $1.41 per share. We delivered record results of $8.3 billion in
North America, continued solid performance from Ford Credit of $1.7 billion,
positive results in South America, continued investment in Asia Pacific Africa
and began a challenging transition in Europe.
We remain committed to strengthening our balance sheet. We ended 2012 with
Automotive gross cash of $24.3 billion, exceeding debt by $10 billion. We also have
a strong liquidity position of $34.5 billion, an increase of $2.1 billion over 2011.
We also worked to de-risk our pension obligations, contributing $3.4 billion in cash
contributions to our worldwide funded plans.
With an eye to the future, we continued our largest and fastest manufacturing
expansion in more than 50 years, adding capacity to support growth plans in
North America and Asia Pacific Africa.
In 2012, we added more than 8,100 hourly and salaried jobs in the U.S. as we
increased production capacity and expanded other areas to meet the growing
demand for our fuel-efficient, high-tech vehicles.
In Europe, we are moving quickly to carry out our transformation plan. As we did in
North America, we are making tough choices and intelligent investments now to
transform our European business for profitable growth in the future.
Additionally, we further strengthened and developed our leadership team by
announcing the appointment of our chief operating officer, a new chief financial
officer, a new Global Product Development leader and senior leadership changes
for the Americas, Europe, Asia Pacific, Ford Credit and our Lincoln Brand.