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  • NEWS Desk Global

FORD SEES $1.7 BILLION PRETAX HIT DUE TO PENSION PLANS IN FOURTH QUARTER




Ford Motor expects to record a pretax remeasurement loss of about $1.7 billion, related to its employees pension and other post-retirement benefits, in its fourth-quarter results. Ford says on an after-tax basis, the loss will lower its net income by around $1.3 billion.

The Detroit automaker said the loss was driven by lower discount rates from a year ago. A remeasurement loss relates to losses arising from a company re-evaluating the value of long-term assets or foreign currency.

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