Annual Report 2011 - Ford Motor Company

Management’s Discussion and Analysis of Financial Condition and Results of Operations
Our planning assumptions and key metrics for 2011, along with our actual results, included the following:
Industry Volume (million units) (a)
–United States
–Europe (b)
Operational Metrics
Compared with prior year:
–U.S. Market Share
–U.S. Retail Share of Retail Market (c)
–Europe Market Share (b)
–Quality
Financial Metrics
Compared with prior year:
–Total Company Pre-Tax Operating Profit (d)
–Automotive Structural Costs (e)
–Commodity Costs (Incl. Hedging)
–Automotive Operating Margin (d)
–Automotive Operating-Related Cash Flow (f)
Absolute amount:
–Capital Spending
2011 Full-Year Plan
13.0 – 13.5
14.5 – 15.5
Equal / Improve
Equal / Improve
Equal / Improve
Improve
Improve
Higher
Higher
Equal / Improve
Improve
$5 Billion – $5.5 Billion
2011 Full-Year Results
13.0
15.3
16.5% (up 0.1 ppt.)
14.0% (equal)
8.3% (down 0.1 ppt.)
Mixed
$8.8 Bils. (up $0.5 Bils.)
$1.4 Bils. Higher
$2.3 Bils. Higher
5.4% (down 0.7 ppt.)
$5.6 Bils. (up $1.2 Bils.)
$4.3 Billion
__________
(a) Includes medium and heavy trucks.
(b) For the 19 markets we track.
(c) Current quarter estimated; prior periods based on latest Polk data.
(d) Excludes special items; Automotive operating margin defined as Automotive pre-tax results excluding Other Automotive divided by Automotive
revenue.
(e) Structural cost changes are measured primarily at present-year exchange, and exclude special items and discontinued operations.
(f) See "Liquidity and Capital Resources" discussion above for reconciliation of any datapoints to GAAP.
Within the current economic environment, our planning assumptions and key metrics for 2012 include the following:
Industry Volume (million units) (a)
–United States
–Europe (b)
Operational Metrics
Compared with prior year:
–U.S. Market Share
–Europe Market Share (b)
–Quality
Financial Metrics
Compared with prior year:
–Automotive Pre-Tax Operating Profit (c)
–Ford Credit Pre-Tax Operating Profit
–Total Company Pre-Tax Operating Profit (c)
–Automotive Structural Cost Increase (d)
–Automotive Operating Margin (c)
Absolute amount:
–Capital Spending
2012 Full-Year Plan
13.5 – 14.5
14.0 – 15.0
About Equal
About Equal
Improve
Higher
Lower
About Equal
Less than $2 Billion
Improve
$5.5 Billion – $6 Billion
__________
(a) Includes medium and heavy trucks.
(b) For the 19 markets we track.
(c) Excludes special items; Automotive operating margin defined as Automotive pre-tax results excluding Other Automotive divided by Automotive
revenue.
(d) Structural cost changes are measured primarily at present-year exchange, and exclude special items and discontinued operations.
Ford Motor Company | 2011 Annual Report 69