Stock Analysis on Net

Ford Motor Co. (NYSE:F)

Adjustments to Financial Statements

Microsoft Excel LibreOffice Calc

Adjustments to Current Assets

Ford Motor Co., adjusted current assets

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Current assets 116,744  114,047  114,649  115,902  108,461 
Adjustments
Add: Allowances for doubtful receivables 57  49  94  404  377 
Add: LIFO reserve1 —  —  —  899  888 
After Adjustment
Adjusted current assets 116,801  114,096  114,743  117,205  109,726 

Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).

1 LIFO reserve. See details »


Adjustments to Total Assets

Ford Motor Co., adjusted total assets

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Total assets 267,261  258,537  256,540  257,808  237,951 
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 —  —  1,341  1,270  1,250 
Add: Allowances for doubtful receivables 57  49  94  404  377 
Add: LIFO reserve2 —  —  —  899  888 
Less: Deferred tax assets3 12,423  11,863  10,412  10,973  9,705 
After Adjustment
Adjusted total assets 254,895  246,723  247,563  249,408  230,761 

Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).

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

2 LIFO reserve. See details »

3 Deferred tax assets. See details »


Adjustments to Current Liabilities

Ford Motor Co., adjusted current liabilities

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Current liabilities 97,192  98,132  95,569  94,600  90,281 
Adjustments
Less: Current deferred revenue 2,161  2,091  2,095  2,107  3,866 
After Adjustment
Adjusted current liabilities 95,031  96,041  93,474  92,493  86,415 

Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).


Adjustments to Total Liabilities

Ford Motor Co., adjusted total liabilities

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Total liabilities 236,450  225,307  220,474  222,792  208,668 
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1 —  —  1,341  1,270  1,250 
Less: Deferred tax liabilities2 538  490  597  815  691 
Less: Deferred revenue 6,720  6,282  6,080  5,936  7,553 
After Adjustment
Adjusted total liabilities 229,192  218,535  215,138  217,311  201,674 

Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).

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 LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Equity attributable to Ford Motor Company 30,690  33,185  35,932  34,890  29,170 
Adjustments
Less: Net deferred tax assets (liabilities)1 11,885  11,373  9,815  10,158  9,014 
Add: Allowances for doubtful receivables 57  49  94  404  377 
Add: LIFO reserve2 —  —  —  899  888 
Add: Deferred revenue 6,720  6,282  6,080  5,936  7,553 
Add: Redeemable noncontrolling interest —  —  100  98  96 
Add: Equity attributable to noncontrolling interests 121  45  34  28  17 
After Adjustment
Adjusted total equity 25,703  28,188  32,425  32,097  29,087 

Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).

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

2 LIFO reserve. See details »


Adjustments to Capitalization Table

Ford Motor Co., adjusted capitalization table

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Automotive debt payable within one year 1,194  1,445  2,314  3,356  2,685 
Ford Credit debt payable within one year 49,969  52,371  51,179  48,265  46,984 
Other debt payable within one year 180  130  —  —  — 
Automotive long-term debt payable after one year 22,342  13,233  11,233  12,575  13,222 
Ford Credit long-term debt payable after one year 87,708  87,658  88,887  89,492  80,079 
Other long-term debt payable after one year 291  470  600  599  — 
Total reported debt 161,684  155,307  154,213  154,287  142,970 
Equity attributable to Ford Motor Company 30,690  33,185  35,932  34,890  29,170 
Total reported capital 192,374  188,492  190,145  189,177  172,140 
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1 —  —  1,341  1,270  1,250 
Add: Current operating lease liabilities2 323  367  —  —  — 
Add: Non-current operating lease liabilities3 991  1,047  —  —  — 
Adjusted total debt 162,998  156,721  155,554  155,557  144,220 
Adjustments to Equity
Less: Net deferred tax assets (liabilities)4 11,885  11,373  9,815  10,158  9,014 
Add: Allowances for doubtful receivables 57  49  94  404  377 
Add: LIFO reserve5 —  —  —  899  888 
Add: Deferred revenue 6,720  6,282  6,080  5,936  7,553 
Add: Redeemable noncontrolling interest —  —  100  98  96 
Add: Equity attributable to noncontrolling interests 121  45  34  28  17 
Adjusted total equity 25,703  28,188  32,425  32,097  29,087 
After Adjustment
Adjusted total capital 188,701  184,909  187,979  187,654  173,307 

Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).

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 »

5 LIFO reserve. See details »


Adjustments to Revenues

Ford Motor Co., adjusted automotive revenues

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Automotive revenues 115,885  143,599  148,294  145,653  141,546 
Adjustment
Add: Increase (decrease) in deferred revenue 438  202  144  (1,617) (407)
After Adjustment
Adjusted automotive revenues 116,323  143,801  148,438  144,036  141,139 

Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).


Adjustments to Reported Income

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

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Net income (loss) attributable to Ford Motor Company (1,279) 47  3,677  7,602  4,596 
Adjustments
Add: Deferred income tax expense (benefit)1 (326) (1,394) (109) (308) 1,669 
Add: Increase (decrease) in allowances for doubtful receivables (45) (310) 27 
Add: Increase (decrease) in LIFO reserve2 —  —  —  11  (52)
Add: Increase (decrease) in deferred revenue 438  202  144  (1,617) (407)
Add: Other comprehensive income (loss), net of tax (567) (362) (407) 52  (757)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest 37  18  24  10 
After Adjustment
Adjusted net income (loss) (1,724) (1,515) 3,013  5,791  5,064 

Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).

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

2 Increase (decrease) in LIFO reserve. See details »