Ford 2012 Annual Report Download - page 21

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Ford Motor Company | 2012 Annual Report 19
Management's Discussion and Analysis of Financial Condition and Results of Operations
The following table details Automotive sector special items in each category:
2012 2011 2010
(Mils.) (Mils.) (Mils.)
Personnel and Dealer-Related Items
Personnel-reduction actions (a) $ (498) $ (269) $ (145)
Mercury discontinuation/Other dealer actions (71)(151) (339)
Job Security Benefits/Other 17 93 36
Total Personnel and Dealer-Related Items (552)(327) (448)
Other Items
CFMA restructuring 625 — —
AAI consolidation (b) 136 — —
FordSollers gain 1 401 —
U.S. pension lump-sum program (250) — —
Loss on sale of two component businesses (174) — —
Belgium pension settlement — (109) —
Debt reduction actions — (60) (853)
Sale of Volvo and related charges — 8 179
Other (32)5 (29)
Total Other Items 306 245 (703)
Total Special Items $ (246) $ (82) $ (1,151)
__________
(a) Includes pension-related special items other than the U.S. pension lump-sum program.
(b) The special item of $136 million is comprised of the $155 million gain from the consolidation of AAI (see Note 25 of the Notes to the Financial
Statements), less a related $19 million adjustment for sales in September 2012 of Ford-brand vehicles produced by AAI.
Discussion of Automotive sector, Financial Services sector, and total Company results of operations below is on a pre-
tax basis and excludes special items unless otherwise specifically noted.
The chart below details 2012 pre-tax results by sector:
Total Company 2012 pre-tax profit of $8 billion reflects strong results from both sectors. Compared with 2011, total
Company pre-tax profit declined, primarily explained by the expected reduction in Financial Services.
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