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Management’s Discussion and Analysis of Financial Condition and Results of Operations
22 Ford Motor Company | 2009 Annual Report
The following table details special items in each category by segment or business unit (in millions):
Personnel and Dealer-Related Items – Automotive Sector: 2009 2008 2007
Ford North America
Retiree health care and related charges ...................................................................
.
$ (768) $ 2,583 $ 1,332
Personnel-reduction actions/Other............................................................................
.
(358) (875) (829)
U.S. dealer actions (primarily dealership impairments) ............................................
.
(139) (219) —
Pension curtailment charges .....................................................................................
.
— — (180)
Job Security Benefits/Transition Assistance Plan .....................................................
.
40 346 80
Total Ford North America ........................................................................................
.
(
1
,
225
)
1
,
835 403
Ford South America
Personnel-reduction actions......................................................................................
.
(
20
)
—
—
Ford Euro
p
e
Personnel-reduction actions/Othe
r
............................................................................
.
(
216
)
(
82
)
(
90
)
Ford Asia Pacific Africa
Personnel-reduction actions/Othe
r
............................................................................
.
(
22
)
(
137
)
(
23
)
V
olvo
Personnel-reduction actions/Othe
r
............................................................................
.
(
54
)
(
194
)
(
63
)
U.S. dealer actions ....................................................................................................
.
(1) (31) —
Total Volvo...............................................................................................................
.
(
55
)
(
225
)
(
63
)
Other Automotive
Return on assets held in Temporary Asset Account ("TAA")....................................
.
110 (509) —
Total Personnel and Deale
r
-Related Items
–
Automotive secto
r
..........................
.
(
1
,
428
)
882 227
Other Items:
Automotive sector
Ford North America
Fixed asset impairment charges ...............................................................................
.
— (5,300) —
Gain/(Loss) on sale of ACH plants ............................................................................
.
— (324) 3
Accelerated depreciation related to AAI acquisition of leased facility.......................
.
— (306) —
Supplier settlement/Other..........................................................................................
.
— (202) —
Ballard restructuring/Other ........................................................................................
.
— (70) —
Variable marketing – change in business practice * .................................................
.
— — (1,099)
Total Ford North America ........................................................................................
.
—
(
6
,
202
)
(
1
,
096
)
Ford Euro
p
e
Investment impairment and related charges/Other...................................................
.
(96) — —
Variable marketing – change in business practice * .................................................
.
— — (120)
Plant idling/closure ....................................................................................................
.
— — (43)
Total Ford Europe ...................................................................................................
.
(96) — (163)
Ford Asia Pacific Africa
Variable marketing – change in business practice * .................................................
.
— — (15)
V
olvo
Held-for-sale impairment ...........................................................................................
.
(650) — —
Goodwill impairment charges ....................................................................................
.
— — (2,400)
Variable marketing – change in business practice * .................................................
.
— — (87)
Held-for-sale cessation of depreciation and related charges/Other..........................
.
424 — (4)
Total Volvo...............................................................................................................
.
(
226
)
—
(
2
,
491
)
Other Automotive
Liquidation of foreign subsidiary – foreign currency translation impact ........................
.
(281) — —
Initial mark-to-market adjustment on Mazda marketable securities..........................
.
— (80) —
Loss from conversion of convertible securities .........................................................
.
—
—
(
632
)
Gain from debt securities exchanged for equity........................................................
.
— 141 120
Net gains from debt reduction actions.......................................................................
.
4,663 — —
Total Other Automotive ...........................................................................................
.
4
,
382 61
(
512
)
Mazda
Loss on sale of Mazda shares...................................................................................
.
—
(
121
)
—
Impairment of dealer network goodwill......................................................................
.
— (214) —
Total Mazda.............................................................................................................
.
—
(
335
)
—
Jaguar Land Rover and Aston Martin
Sale-related/Other .....................................................................................................
.
3 32 178
Total Other Items
–
Automotive secto
r
.................................................................
.
4
,
063
(
6
,
444
)
(
4
,
099
)
Financial Services sector
DFO Partnership impairment/gain on sale ................................................................
.
(132) — —
Ford Credit net operating lease impairment charge..................................................
.
— (2,086) —
Gain from purchase of Ford Holdings debt securities...............................................
.
51 — —
Total Other Items – Financial Services sector ......................................................
.
(81) (2,086) —
Total ....................................................................................................................
.
$ 2,554 $ (7,648) $ (3,872)
__________
* * Represents a one-time, non-cash charge related to a change in our business practice for offering and announcing retail variable marketing incentives
to our dealers. See our Annual Report on Form 10-K for the year ended December 31, 2007 for discussion of this change in business practice.