Stock Analysis on Net

Ford Motor Co. (NYSE:F)

Adjustments to Financial Statements

Microsoft Excel

Adjustments to Current Assets

Ford Motor Co., adjusted current assets

US$ in millions

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
As Reported
Current assets 124,474 121,481 116,476 108,996 116,744
Adjustments
Add: Allowances for doubtful receivables 84 69 93 47 57
After Adjustment
Adjusted current assets 124,558 121,550 116,569 109,043 116,801

Based on: 10-K (reporting date: 2024-12-31), 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).


Adjustments to Total Assets

Ford Motor Co., adjusted total assets

US$ in millions

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
As Reported
Total assets 285,196 273,310 255,884 257,035 267,261
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1
Add: Allowances for doubtful receivables 84 69 93 47 57
Less: Deferred tax assets2 16,375 16,985 15,552 13,796 12,423
After Adjustment
Adjusted total assets 268,905 256,394 240,425 243,286 254,895

Based on: 10-K (reporting date: 2024-12-31), 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).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

2 Deferred tax assets. See details »


Adjustments to Current Liabilities

Ford Motor Co., adjusted current liabilities

US$ in millions

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
As Reported
Current liabilities 106,859 101,531 96,866 90,727 97,192
Adjustments
Less: Current deferred revenue 3,331 2,515 2,404 2,349 2,161
After Adjustment
Adjusted current liabilities 103,528 99,016 94,462 88,378 95,031

Based on: 10-K (reporting date: 2024-12-31), 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).


Adjustments to Total Liabilities

Ford Motor Co., adjusted total liabilities

US$ in millions

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
As Reported
Total liabilities 240,338 230,512 212,717 208,413 236,450
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1
Less: Deferred tax liabilities2 1,074 1,005 1,549 1,581 538
Less: Deferred revenue 8,241 7,566 7,287 7,032 6,720
After Adjustment
Adjusted total liabilities 231,023 221,941 203,881 199,800 229,192

Based on: 10-K (reporting date: 2024-12-31), 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).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Deferred tax liabilities. See details »


Adjustments to Stockholders’ Equity

Ford Motor Co., adjusted equity attributable to Ford Motor Company

US$ in millions

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
As Reported
Equity attributable to Ford Motor Company 44,835 42,773 43,242 48,519 30,690
Adjustments
Less: Net deferred tax assets (liabilities)1 15,301 15,980 14,003 12,215 11,885
Add: Allowances for doubtful receivables 84 69 93 47 57
Add: Deferred revenue 8,241 7,566 7,287 7,032 6,720
Add: Equity attributable to noncontrolling interests 23 25 (75) 103 121
After Adjustment
Adjusted total equity 37,882 34,453 36,544 43,486 25,703

Based on: 10-K (reporting date: 2024-12-31), 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).

1 Net deferred tax assets (liabilities). See details »


Adjustments to Capitalization Table

Ford Motor Co., adjusted capitalization table

US$ in millions

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
As Reported
Debt payable within one year 54,949 49,669 50,164 49,692 51,343
Long-term debt payable after one year 103,573 99,562 88,805 88,400 110,341
Total reported debt 158,522 149,231 138,969 138,092 161,684
Equity attributable to Ford Motor Company 44,835 42,773 43,242 48,519 30,690
Total reported capital 203,357 192,004 182,211 186,611 192,374
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1
Add: Current operating lease liabilities2 558 481 404 345 323
Add: Non-current operating lease liabilities3 1,782 1,395 1,101 1,048 991
Adjusted total debt 160,862 151,107 140,474 139,485 162,998
Adjustments to Equity
Less: Net deferred tax assets (liabilities)4 15,301 15,980 14,003 12,215 11,885
Add: Allowances for doubtful receivables 84 69 93 47 57
Add: Deferred revenue 8,241 7,566 7,287 7,032 6,720
Add: Equity attributable to noncontrolling interests 23 25 (75) 103 121
Adjusted total equity 37,882 34,453 36,544 43,486 25,703
After Adjustment
Adjusted total capital 198,744 185,560 177,018 182,971 188,701

Based on: 10-K (reporting date: 2024-12-31), 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).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Current operating lease liabilities. See details »

3 Non-current operating lease liabilities. See details »

4 Net deferred tax assets (liabilities). See details »


Adjustments to Revenues

Ford Motor Co., adjusted company revenues excluding Ford Credit

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
As Reported
Company revenues excluding Ford Credit 172,706 165,901 149,079 126,268 115,941
Adjustment
Add: Increase (decrease) in deferred revenue 675 279 255 312 438
After Adjustment
Adjusted company revenues excluding Ford Credit 173,381 166,180 149,334 126,580 116,379

Based on: 10-K (reporting date: 2024-12-31), 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).


Adjustments to Reported Income

Ford Motor Co., adjusted net income (loss) attributable to Ford Motor Company

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
As Reported
Net income (loss) attributable to Ford Motor Company 5,879 4,347 (1,981) 17,937 (1,279)
Adjustments
Add: Deferred income tax expense (benefit)1 363 (1,601) (1,836) (856) (326)
Add: Increase (decrease) in allowances for doubtful receivables 20 (24) 46 (10) 8
Add: Increase (decrease) in deferred revenue 675 279 255 312 438
Add: Other comprehensive income (loss), net of tax (598) 298 (1,004) (41) (567)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest 14 (17) (175) (23) 2
After Adjustment
Adjusted net income (loss) 6,353 3,282 (4,695) 17,319 (1,724)

Based on: 10-K (reporting date: 2024-12-31), 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).

1 Deferred income tax expense (benefit). See details »