PROFITABLE GROWTH FOR ALL
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Management’s Discussion and Analysis of Financial Condition and Results of Operations<br />
The following table details Automotive sector special items in each category:<br />
Personnel and Dealer-Related Items<br />
Automotive Sector<br />
Personnel-reduction actions<br />
Mercury discontinuation/Other dealer actions<br />
Job Security Benefits/Other<br />
Retiree health care and related charges<br />
Total Personnel and Dealer-Related Items<br />
Other Items<br />
Automotive Sector<br />
Belgium pension settlement<br />
Debt reduction actions<br />
Sale of Volvo and related charges (a)<br />
Gain on sale of Ford Russia operations<br />
Other (including foreign currency translation impact)<br />
Return on assets held in Temporary Asset Account ("TAA")<br />
Total Other Items - Automotive sector<br />
Total Automotive sector<br />
Financial Services Sector<br />
DFO Partnership impairment<br />
Gain on purchase of Ford Holdings debt securities<br />
Total Other Items - Financial Services sector<br />
Total Special Items<br />
$<br />
$<br />
$<br />
$<br />
(269)<br />
(151)<br />
93<br />
—<br />
(327)<br />
(109)<br />
(60)<br />
8<br />
401<br />
5<br />
—<br />
245<br />
(82)<br />
—<br />
—<br />
—<br />
(82)<br />
$<br />
$<br />
$<br />
$<br />
(145)<br />
(339)<br />
36<br />
—<br />
(448)<br />
—<br />
(853)<br />
179<br />
—<br />
(29)<br />
—<br />
(703)<br />
(1,151)<br />
—<br />
—<br />
—<br />
(1,151)<br />
$<br />
$<br />
$<br />
$<br />
(663)<br />
(140)<br />
40<br />
(768)<br />
(1,531)<br />
—<br />
4,663<br />
(226)<br />
—<br />
(374)<br />
110<br />
4,173<br />
2,642<br />
(132)<br />
51<br />
(81)<br />
2,561<br />
__________<br />
(a) Beginning in 2010, because Volvo's results were no longer indicative of our ongoing operations, we categorized Volvo's revenue and corresponding<br />
wholesales, costs, and expenses as special items. On August 2, 2010, we completed the sale of Volvo and related assets. Gains or losses and<br />
other costs related to the sale also are included in "Sale of Volvo and related charges."<br />
2011<br />
(Mils.)<br />
2010<br />
(Mils.)<br />
2009<br />
(Mils.)<br />
Not shown in the table above are tax benefits of $14.2 billion, $134 million and $132 million for 2011, 2010, and 2009,<br />
respectively, that we consider to be special items. These primarily consist of the 2011 release of almost all of the<br />
valuation allowance against our net deferred tax assets, tax effects of the pre-tax special items listed above, and the<br />
impact of changes in tax laws on deferred tax balances.<br />
Discussion of Automotive and Financial Services sector results of operations below is on a pre-tax basis, and total<br />
Automotive sector results and total Financial Services sector results exclude special items unless otherwise specifically<br />
noted.<br />
36 Ford Motor Company | 2011 Annual Report
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