Analysis of Goodwill and Intangible Assets
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Ford Motor Co. pages available for free this week:
- Statement of Comprehensive Income
- Common-Size Balance Sheet: Assets
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Price to Sales (P/S) since 2005
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Goodwill and Intangible Asset Disclosure
Ford Motor Co., balance sheet: goodwill and intangible assets
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Intangible assets, net | |||||||||||
| Goodwill | |||||||||||
| Net intangible assets and goodwill |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Item | Description | The company |
|---|---|---|
| Intangible assets, net | Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. | Ford Motor Co. intangible assets, net decreased from 2021 to 2022 and from 2022 to 2023. |
| Goodwill | Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. | Ford Motor Co. goodwill decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level. |
| Net intangible assets and goodwill | Sum of the carrying amounts of all intangible assets, including goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. | Ford Motor Co. net intangible assets and goodwill decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level. |
Adjustments to Financial Statements: Removal of Goodwill
Ford Motor Co., adjustments to financial statements
US$ in millions
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Ford Motor Co., Financial Data: Reported vs. Adjusted
Adjusted Financial Ratios: Removal of Goodwill (Summary)
Ford Motor Co., adjusted financial ratios
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Financial ratio | Description | The company |
|---|---|---|
| Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Ford Motor Co. adjusted total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Ford Motor Co. adjusted financial leverage ratio increased from 2021 to 2022 and from 2022 to 2023. |
| Adjusted ROE | A profitability ratio calculated as net income divided by adjusted shareholders’ equity. | Ford Motor Co. adjusted ROE deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
| Adjusted ROA | A profitability ratio calculated as net income divided by adjusted total assets. | Ford Motor Co. adjusted ROA deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Ford Motor Co., Financial Ratios: Reported vs. Adjusted
Adjusted Total Asset Turnover
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
2023 Calculations
1 Total asset turnover = Company revenues excluding Ford Credit ÷ Total assets
= ÷ =
2 Adjusted total asset turnover = Company revenues excluding Ford Credit ÷ Adjusted total assets
= ÷ =
| Activity ratio | Description | The company |
|---|---|---|
| Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Ford Motor Co. adjusted total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Adjusted Financial Leverage
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
2023 Calculations
1 Financial leverage = Total assets ÷ Equity attributable to Ford Motor Company
= ÷ =
2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted equity attributable to Ford Motor Company
= ÷ =
| Solvency ratio | Description | The company |
|---|---|---|
| Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Ford Motor Co. adjusted financial leverage ratio increased from 2021 to 2022 and from 2022 to 2023. |
Adjusted Return on Equity (ROE)
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
2023 Calculations
1 ROE = 100 × Net income (loss) attributable to Ford Motor Company ÷ Equity attributable to Ford Motor Company
= 100 × ÷ =
2 Adjusted ROE = 100 × Net income (loss) attributable to Ford Motor Company ÷ Adjusted equity attributable to Ford Motor Company
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted ROE | A profitability ratio calculated as net income divided by adjusted shareholders’ equity. | Ford Motor Co. adjusted ROE deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Adjusted Return on Assets (ROA)
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
2023 Calculations
1 ROA = 100 × Net income (loss) attributable to Ford Motor Company ÷ Total assets
= 100 × ÷ =
2 Adjusted ROA = 100 × Net income (loss) attributable to Ford Motor Company ÷ Adjusted total assets
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted ROA | A profitability ratio calculated as net income divided by adjusted total assets. | Ford Motor Co. adjusted ROA deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |