Ford Mtr Co Del · NYSE:F
Ford Mtr Co Del — Ford Motor Company — Q4 2015 and FY2015 Earnings Presentation
60 slides from Ford Mtr Co Del's earnings presentation, Jan 28, 2016
Slide 1: 4Q 2015 and Full Year Earnings Review and 2016 Outlook
Go Further 4Q 2015 AND FULL YEAR EARNINGS REVIEW AND 2016 OUTLOOK JANUARY 28, 2016 (PRELIMINARY RESULTS)
Slide 2: Our Focus: One Ford, The Plan
OUR FOCUS One Ford THE PLAN Acceleration Product Excellence Delivered with Passion Innovation In Every Part of Our Business SLIDE 2
Slide 3: 4Q 2015 and Full Year Summary
4Q 2015 AND FULL YEAR SUMMARY* Fourth Quarter wholesale volume and automotive revenue growth of 12% Company pre-tax profit of $2.6 billion, up 96% from prior year Net income of $1.9 billion, automotive operating margin of 6.1% and automotive operating-related cash flow of $2.1 billion, all significa
Slide 4: 2015 A Breakthrough Year
2015 A BREAKTHROUGH YEAR 10 New Plants Record Sales in China, More Than 1.1 Million Vehicles Sold #1 Successfully launched Opened last of 10 new Quality and customer Ford Credit recognized 16 global products plants to support satisfaction at best- as highest in consumer growth in Asia Pacific ever l
Slide 5: 2015 Key Financial Summary
2015 KEY FINANCIAL SUMMARY 4Q FY B / (W) B / (W) 2015 2014 2015 2014 Wholesales (000) 1,775 195 6,635 312 Revenue (Bils) $ 40.3 $ 4.4 $ 149.6 $ 5.5 Operating results* Automotive $ 2,068 $ 1,143 $ 8,772 $ 3,273 Financial Services 542 134 2,028 234 Pre-tax results (Mils) $ 2,610 $ 1,277 $10,800 $ 3,50
Slide 6: FY 2015 Pre-Tax Results by Segment
TOTAL COMPANY FY 2015 PRE-TAX RESULTS BY SEGMENT* (MILS) $10,800 $9,345 $2,028 $259 $765 $31 $(832) $(796) North South Middle East Asia Other Financial Total America America Europe & Africa Pacific Automotive Services B / (W) FY 2014 $3,507 $1,902 $332 $857 $51 $172 $(41) $234 * Excludes special ite
Slide 7: FY 2015 Key Metrics Compared with 2014
AUTOMOTIVE SECTOR FY 2015 KEY METRICS COMPARED WITH 2014* Wholesales Revenue Operating Margin Pre-Tax Results (000) (Bils) (Pct) (Mils) 6,635 $135.8 $140.6 $8,772 6,323 6.8% 4.6% $5,499 2014 2015 2014 2015 2014 2015 2014 2015 FY 2014 2015 Global Industry (Mils) 88.1 89.5 Global Market Share 7.1% 7.3
Slide 8: FY 2015 Pre-Tax Results Compared with 2014
AUTOMOTIVE SECTOR FY 2015 PRE-TAX RESULTS COMPARED WITH 2014* (MILS) $3,273 Manufacturing Incl. Vol. Related $(1,021) Industry $1,537 Engineering (573) Other (222) $8,772 Share Stocks (163) 811 Mix / Other 1,837 Material Excl. Commodities $(3,682) Commodities 930 $5,499 Warranty / Freight / Other 1,
Slide 9: 4Q 2015 Pre-Tax Results by Segment
TOTAL COMPANY 4Q 2015 PRE-TAX RESULTS BY SEGMENT* (MILS) $2,610 $2,029 $542 $444 $131 $13 $(295) $(254) North South Middle East Asia Other Financial Total America America Europe & Africa Pacific Automotive Services B / (W) 4Q 2014 $1,277 $ 415 $(108) $ 428 $95 $349 $(36) $134 B / (W) 3Q 2015 (515) (
Slide 10: 4Q 2015 Key Metrics Compared with 2014
AUTOMOTIVE SECTOR 4Q 2015 KEY METRICS COMPARED WITH 2014* Wholesales Revenue Operating Margin Pre-Tax Results (000) (Bils) (Pct) (Mils) 1,775 $37.9 1,580 6.1% $2,068 $33.8 3.4% $925 2014 2015 2014 2015 2014 2015 2014 2015 FY: 6,323 6,635 $135.8 $140.6 4.6% 6.8% $5,499 $8,772 4Q 2014 2015 Global Indu
Slide 11: 4Q 2015 Pre-Tax Results Compared with 2014
AUTOMOTIVE SECTOR 4Q 2015 PRE-TAX RESULTS COMPARED WITH 2014* (MILS) Industry $452 $1,143 Share (63) Manufacturing Incl. Vol. Related $(235) Stocks 813 Engineering (178) Mix / Other 709 Other 46 $2,068 $1,911 Material Excl. Commodities $(842) Commodities 433 Warranty / Freight / Other 201 Ratificati
Slide 12: 4Q 2015 Key Metrics – North America
AUTOMOTIVE SECTOR – NORTH AMERICA 4Q 2015 KEY METRICS COMPARED WITH 2014 Wholesales Revenue Operating Margin Pre-Tax Results (000) (Bils) (Pct) (Mils) 808 $24.9 700 $20.9 8.2% $2,029 7.7% $1,614 2014 2015 2014 2015 2014 2015 2014 2015 FY: 2,842 3,073 $82.4 $91.9 9.0% 10.2% $7,443 $9,345 Escape 4Q 20
Slide 13: 4Q 2015 Pre-Tax Results – North America
AUTOMOTIVE SECTOR – NORTH AMERICA 4Q 2015 PRE-TAX RESULTS COMPARED WITH 2014 (MILS) Industry $477 $415 Share (62) Stocks 578 Manufacturing Incl. Vol. Related $(276) Mix / Other 569 Engineering (78) Other (45) $2,029 $1,614 $1,562 Material Excl. Commodities $(936) Commodities 383 Warranty / Freight /
Slide 14: 4Q 2015 Key Metrics – South America
AUTOMOTIVE SECTOR – SOUTH AMERICA 4Q 2015 KEY METRICS COMPARED WITH 2014 Wholesales Revenue Operating Margin Pre-Tax Results (000) (Bils) (Pct) (Mils) 132 $2.5 (7.6)% 80 $1.2 $(187) (25.1)% $(295) 2014 2015 2014 2015 2014 2015 2014 2015 FY: 463 381 $8.8 $5.8 (13.2)% (14.4)% $(1,164) $(832) Fiesta 4Q
Slide 15: 4Q 2015 Pre-Tax Results – South America
AUTOMOTIVE SECTOR – SOUTH AMERICA 4Q 2015 PRE-TAX RESULTS COMPARED WITH 2014 (MILS) Industry $(228) Share (74) Stocks (17) Mix / Other 65 $127 $107 $39 $(48) $(79) $(187) $(254) $(295) $(108) Volume / Net Contribution Structural 4Q 2014 4Q 2015 Mix Pricing Cost Cost Exchange Other B / (W) 3Q 2015 $(
Slide 16: 4Q 2015 Key Metrics – Europe
AUTOMOTIVE SECTOR – EUROPE 4Q 2015 KEY METRICS COMPARED WITH 2014 Wholesales* Revenue Operating Margin Pre-Tax Results (000) (Bils) (Pct) (Mils) 390 $131 $7.3 323 $6.8 1.8% (4.4)% $(297) 2014 2015 2014 2015 2014 2015 2014 2015 FY: 1,387 1,530 $29.5 $28.2 (2.0)% 0.9% $(598) $259 Transit 4Q 2014 2015
Slide 17: 4Q 2015 Pre-Tax Results – Europe
AUTOMOTIVE SECTOR – EUROPE 4Q 2015 PRE-TAX RESULTS COMPARED WITH 2014 (MILS) Industry $108 Material Excl. Commodities $159 Share 53 Commodities 35 Stocks 165 Warranty / Freight / Other 60 Mix / Other (99) $428 $227 $254 $131 $83 $17 $(34) $(119) $(297) Volume / Net Contribution Structural 4Q 2014 4Q
Slide 18: 4Q 2015 Key Metrics – Middle East & Africa
AUTOMOTIVE SECTOR – MIDDLE EAST & AFRICA 4Q 2015 KEY METRICS COMPARED WITH 2014 Wholesales Revenue Operating Margin Pre-Tax Results (000) (Bils) (Pct) (Mils) 54 $1.1 $1.0 44 1.2% $13 (8.2)% $(82) 2014 2015 2014 2015 2014 2015 2014 2015 FY: 192 187 $4.4 $4.0 (0.5)% 0.8% $(20) $31 4Q 2014 2015 Ranger
Slide 19: 4Q 2015 Key Metrics – Asia Pacific
AUTOMOTIVE SECTOR – ASIA PACIFIC 4Q 2015 KEY METRICS COMPARED WITH 2014 Wholesales* Revenue Operating Margin Pre-Tax Results (000) (Bils) (Pct) (Mils) 443 13.1% $3.4 $444 381 $2.6 3.6% $95 $323** $490** 2014 2015 2014 2015 2014 2015 2014 2015 FY: 1,439 1,464 $10.7 $10.7 5.5% 7.1% $593 $765 Edge 4Q 2
Slide 20: 4Q 2015 Pre-Tax Results – Asia Pacific
AUTOMOTIVE SECTOR – ASIA PACIFIC 4Q 2015 PRE-TAX RESULTS COMPARED WITH 2014 (MILS) Industry $106 Share 15 $349 Stocks 56 Mix / Other 181 $444 $358 $95 $98 $67 $(40) $(2) $(132) Volume / Net Contribution Structural 4Q 2014 4Q 2015 Mix Pricing Cost Cost Exchange Other B / (W) 3Q 2015 $422 $453 $(29) $
Slide 21: 4Q 2015 Key Metrics – Ford Credit
FINANCIAL SERVICES SECTOR – FORD CREDIT 4Q 2015 KEY METRICS COMPARED WITH 2014 U.S. Retail and Lease Contract Managed Average Over-60-Day Loss-to-Receivables Volume Receivables* Pre-Tax Results Placement Delinquencies (LTR) (000) (Bils) (Mils) FICO (Pct) (Pct) 507 $127 744 741 468 $556 $113 $423 0.3
Slide 22: 4Q 2015 Pre-Tax Results – Ford Credit
FINANCIAL SERVICES SECTOR – FORD CREDIT 4Q 2015 PRE-TAX RESULTS COMPARED WITH 2014 (MILS) $133 $556 $423 $137 $82 $6 $(29) $(35) $(28) Volume / Financing Credit Lease 4Q 2014 4Q 2015 Mix Margin Loss Residual Exchange Other B / (W) 3Q 2015 $15 $55 $(7) $(9) $(32) $(6) $14 SLIDE 22
Slide 23: 2015 Cash
AUTOMOTIVE SECTOR 2015 CASH 4Q 2015 FY (Bils) (Bils) Cash at end of period $ 23.6 $ 23.6 Cash at beginning of period 22.2 21.7 Change in Cash $ 1.4 $ 1.9 Automotive pre-tax profits $ 2.1 $ 8.8 Capital spending (1.8) (7.1) Depreciation and tooling amortization 1.1 4.3 Changes in working capital - 0.6
Slide 24: 2015 Planning Assumptions and Key Metrics
2015 PLANNING ASSUMPTIONS AND KEY METRICS 2014 FY 2015 FY Results Plan Results Planning Assumptions (Mils) Industry Volume -- U.S. 16.8 17.0 - 17.5 17.8 -- Europe 20 14.6 14.8 - 15.3 16.0 -- China* 24.0 24.5 - 26.5 25.1 Key Metrics Automotive (Compared with 2014): – Revenue (Bils) $ 135.8 Higher $ 1
Slide 25: 2016 Planning Assumptions and Key Metrics
2016 PLANNING ASSUMPTIONS AND KEY METRICS 2015 FY Results 2016 FY Plan GDP Growth Outlook Planning Assumptions (Mils) Industry Volume – U.S. 17.8 17.5 - 18.5 2.3 - 2.8% – Europe* 19.2 19.0 - 20.0 1.2 - 1.7% – Brazil 2.6 2.0 - 2.5 (2.0) - (3.0)% – China* 23.5 23.5 - 25.5 6.5 - 7.0% Key Metrics Automo
Slide 26: The Plan: One Ford
THE PLAN ONE FORD Go Further ( ONE TEAM leadership, as measured by: Customer, Employee, Dealer, Investor, Supplier, Union/Council, and Community Satisfaction ONE PLAN current demand and changing model mix experiences customers want and value + Finance our plan and maintain a strong + Work together e
Slide 27: Risk Factors
RISK FACTORS Statements included or incorporated by reference herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on expectations, forecasts, and assumptions by our management and involve
Slide 28: Q&A
Q&A
Slide 29: Appendix
APPENDIX
Slide 30: Appendix Index
4Q 2015 AND FULL YEAR EARNINGS – APPENDIX INDEX Appendix No. • 2016 Business Unit Key Metrics 1 • Calculation of Earnings Per Share 2 • Calculation of Return On Invested Capital (ROIC) 3 • Income from Continuing Operations 4 • Special Items 5 • Sector Income Statement 6 • Pension Update 7 • Employme
Slide 31: 2016 Business Unit Key Metrics
2016 BUSINESS UNIT KEY METRICS 2015 FY Results 2016 FY Plan Automotive (Mils) – North America $ 9,345 About Equal To 2015 » Operating Margin (Pct) 10.2 % 9.5% or Higher – South America $ (832) Greater Loss Than 2015 – Europe 259 Higher Than 2015 – Middle East & Africa 31 Equal To or Higher Than 2015
Slide 32: 2015 Calculation of Earnings Per Share
2015 CALCULATION OF EARNINGS PER SHARE 4Q FY After-Tax After-Tax Operating Operating Results Results Net Income Excluding Net Income Excluding Attributable Special Attributable Special to Ford Items* to Ford Items* After-Tax Results (Mils) After-tax results* $ 1,868 $ 2,319 $ 7,373 $ 7,716 Diluted a
Slide 33: Return on Invested Capital Calculation
RETURN ON INVESTED CAPITAL CALCULATION 2011 2012 2013 2014 2015 Net Operating Profit After Tax (NOPAT) (Bils.) (Bils.) (Bils.) (Bils.) (Bils.) Pre-Tax Profit (Incl. Special Items) $ 3.7 $ 2.0 $ 14.4 $ 1.2 $ 10.3 Add Back: Costs Related to Invested Capital Automotive Interest Expense 0.8 0.7 0.8 0.8
Slide 34: Income from Continuing Operations
INCOME FROM CONTINUING OPERATIONS 4Q FY 2014 2015 2014 2015 (Mils) (Mils) (Mils) (Mils) Automotive North America $ 1,614 $ 2,029 $ 7,443 $ 9,345 South America (187) (295) (1,164) (832) Europe (297) 131 (598) 259 Middle East & Africa (82) 13 (20) 31 Asia Pacific 95 444 593 765 Other Automotive (218)
Slide 35: Special Items
SPECIAL ITEMS 4Q FY 2014 2015 2014 2015 (Mils) (Mils) (Mils) (Mils) Pension and OPEB Remeasurement Gains / (Losses) $ (4,123) $ (698) $ (4,123) $ (698) Separation-related actions $ (247) $ - $ (681) $ - Other Items Nemak IPO $ - $ (16) $ - $ 150 Venezuela Deconsolidation (800) - (800) - Ford Sollers
Slide 36: Sector Income Statement
SECTOR INCOME STATEMENT For the years ended December 31, 2013 2014 2015 (unaudited) (Mils) (Mils) (Mils) AUTOMOTIVE Revenues $ 139,369 $ 135,782 $ 140,566 Costs and Expenses Cost of sales 120,190 125,025 124,041 Selling, administrative, and other expenses 7,671 11,842 10,502 Total costs and expenses
Slide 37: Pension Update
PENSION UPDATE 2015 B / (W) 2014 2015 2014 Year End Over / (Under) Funded Status -- All Plans (Bils) – U.S. Plans $ (2.3) $ (3.7) $ (1.4) – Non-U.S. Plans (7.5) (4.5) 3.0 Total Funded Status $ (9.8) $ (8.2) $ 1.6 Year-End Discount Rate (Weighted Average) – U.S. Plans 3.94% 4.27% 0.33 Ppts – Non-U.S.
Slide 38: Employment Data by Business Unit
EMPLOYMENT DATA BY BUSINESS UNIT* 2014 2015 Dec. 31 Dec. 31 (000) (000) North America 90 96 South America 16 15 Europe** 47 53 Middle East & Africa 3 3 Asia Pacific 25 25 Total Automotive 181 192 Financial Services 6 7 Total Company 187 199 * Employment data includes the approximate number of indivi
Slide 39: Production Volumes
AUTOMOTIVE SECTOR PRODUCTION VOLUMES 4Q 2015 1Q 2016 O / (U) O / (U) Units 2014 Units 2015 (000) (000) (000) (000) North America 800 102 840 117 South America 67 (38) 65 (37) Europe 393 65 420 (16) Middle East & Africa 17 (2) 20 (1) Asia Pacific 428 52 435 62 Total 1,705 179 1,780 125 APPENDIX 9
Slide 40: Dealer Stocks
SELECTED MARKETS DEALER STOCKS Memo: Total U.S. Brazil Europe 20 MEA China Company (000) (000) (000) (000) (000) (000) 2015 December 31 676 24 230 67 165 1,291 September 30 605 29 197 64 143 1,164 Stock Change H / (L) 71 (5) 33 3 22 127 2014 December 31 611 31 180 72 132 1,147 September 30 599 34 18
Slide 41: Market Share
AUTOMOTIVE SECTOR MARKET SHARE 4Q FY 2014 2015 B / (W) 2014 2015 B / (W) (Pct) (Pct) (Pts) (Pct) (Pct) (Pts) Total Share of Total Industry North America Total 13.6 13.4 (0.2) 14.2 14.0 (0.2) U.S. 14.3 14.2 (0.1) 14.7 14.7 - South America Total 9.4 8.4 (1.0) 8.9 9.6 0.7 Brazil 10.1 9.0 (1.1) 9.4 10.4
Slide 42: Automotive Debt
AUTOMOTIVE SECTOR AUTOMOTIVE DEBT Dec. 31, 2015 2014 Sept. 30 Dec. 31 (Bils) (Bils) (Bils) Public unsecured debt $ 6.6 $ 6.5 $ 6.4 U.S. Department of Energy 4.4 4.0 3.8 Other debt (including International) 2.8 2.3 2.6 Total Automotive debt $ 13.8 $ 12.8 $ 12.8 Memo: Automotive debt payable within on
Slide 43: Net Interest Reconciliation to GAAP
AUTOMOTIVE SECTOR NET INTEREST RECONCILIATION TO GAAP 4Q FY 2014 2015 2014 2015 (Mils) (Mils) (Mils) (Mils) Interest expense (GAAP) $ (178) $ (212) $ (797) $ (773) Investment-related interest income (GAAP) 48 72 193 233 Interest income / (expense) on income taxes (GAAP) 75 (1) 108 - Subtotal $ (55)
Slide 44: Cash Reconciliation to GAAP
AUTOMOTIVE SECTOR CASH RECONCILIATION TO GAAP Dec. 31 2015 2014 Sept. 30 Dec. 31 (Bils) (Bils) (Bils) Cash and cash equivalents $ 4.6 $ 7.8 $ 5.4 Marketable securities 17.1 14.4 18.2 Total cash and marketable securities (GAAP) $ 21.7 $ 22.2 $ 23.6 Securities in transit* - - - Cash $ 21.7 $ 22.2 $ 23
Slide 45: Operating-Related Cash Flows
AUTOMOTIVE SECTOR OPERATING-RELATED CASH FLOWS RECONCILIATION TO GAAP 4Q FY 2014 2015 2014 2015 (Bils) (Bils) (Bils) (Bils) Net cash provided by / (used in) operating activities (GAAP) $ 2.1 $ 3.6 $ 8.8 $ 12.3 Items included in operating-related cash flows Capital spending (2.2) (1.8) (7.4) (7.1) Pr
Slide 46: Net Finance Receivables and Operating Leases
FINANCIAL SERVICES SECTOR – FORD CREDIT NET FINANCE RECEIVABLES AND OPERATING LEASES Dec. 31, 2014 Dec. 31, 2015 Net Receivables* (Bils) (Bils) Finance receivables -- North America Segment Consumer retail financing $ 44.1 $ 49.2 Non-consumer: Dealer financing** 22.5 25.5 Non-consumer: Other 1.0 0.9
Slide 47: Managed Leverage Reconciliation to GAAP
FINANCIAL SERVICES SECTOR – FORD CREDIT MANAGED LEVERAGE RECONCILIATION TO GAAP Dec. 31, Dec. 31, 2014 2015 (Bils) (Bils) Leverage Calculation Total debt* $ 105.0 [ $ 119.6 ] Adjustments for cash** (8.9) [ (11.2) ] Adjustments for derivative accounting*** (0.4) [ (0.5) ] Total adjusted debt $ 95.7 [
Slide 48: FY 2015 Key Metrics – North America
AUTOMOTIVE SECTOR – NORTH AMERICA FY 2015 KEY METRICS COMPARED WITH 2014 Wholesales Revenue Operating Margin Pre-Tax Results (000) (Bils) (Pct) (Mils) 3,073 $91.9 $9,345 2,842 $82.4 10.2% 9.0% $7,443 2014 2015 2014 2015 2014 2015 2014 2015 FY 2014 2015 NA Industry (Mils) 20.2 21.5 NA Market Share 14
Slide 49: FY 2015 Pre-Tax Results – North America
AUTOMOTIVE SECTOR – NORTH AMERICA FY 2015 PRE-TAX RESULTS COMPARED WITH 2014 (MILS) $1,902 $9,345 Industry $1,482 Share (284) $7,443 Stocks 960 Mix / Other 1,642 $3,800 $2,341 $(303) $(650) $(1,332) $(1,954) Volume / Net Contribution Structural FY 2014 FY 2015 Mix Pricing Cost Cost Exchange Other AP
Slide 50: FY 2015 Key Metrics – South America
AUTOMOTIVE SECTOR – SOUTH AMERICA FY 2015 KEY METRICS COMPARED WITH 2014 Wholesales Revenue Operating Margin Pre-Tax Results (000) (Bils) (Pct) (Mils) 463 $8.8 381 $5.8 $(832) (13.2)% (14.4)% $(1,164) 2014 2015 2014 2015 2014 2015 2014 2015 FY 2014 2015 SA Industry (Mils) 5.3 4.2 SA Market Share 8.9
Slide 51: FY 2015 Pre-Tax Results – South America
AUTOMOTIVE SECTOR – SOUTH AMERICA FY 2015 PRE-TAX RESULTS COMPARED WITH 2014 (MILS) Industry $(561) Share 139 Stocks (32) $332 Mix / Other (13) $627 $6 $- $101 $65 $(467) $(832) $(1,164) Volume / Net Contribution Structural FY 2014 FY 2015 Mix Pricing Cost Cost Exchange Other APPENDIX 21
Slide 52: FY 2015 Key Metrics – Europe
AUTOMOTIVE SECTOR – EUROPE FY 2015 KEY METRICS COMPARED WITH 2014 Wholesales* Revenue Operating Margin Pre-Tax Results (000) (Bils) (Pct) (Mils) 1,530 $29.5 1,387 $28.2 $259 0.9% (2.0)% $(598) 2014 2015 2014 2015 2014 2015 2014 2015 FY 2014 2015 EUR Industry (Mils) 18.6 19.2 EUR Market Share 7.2% 7.
Slide 53: FY 2015 Pre-Tax Results – Europe
AUTOMOTIVE SECTOR – EUROPE FY 2015 PRE-TAX RESULTS COMPARED WITH 2014 (MILS) Industry $503 Share 49 Stocks (9) Mix / Other (2) $857 $541 $527 $259 $174 $39 $(161) $(263) $(598) Volume / Net Contribution Structural FY 2014 FY 2015 Mix Pricing Cost Cost Exchange Other APPENDIX 23
Slide 54: FY 2015 Key Metrics – Middle East & Africa
AUTOMOTIVE SECTOR – MIDDLE EAST & AFRICA FY 2015 KEY METRICS COMPARED WITH 2014 Wholesales Revenue Operating Margin Pre-Tax Results (000) (Bils) (Pct) (Mils) 192 187 $31 $4.4 $4.0 0.8% (0.5)% $(20) 2014 2015 2014 2015 2014 2015 2014 2015 FY 2014 2015 MEA Industry (Mils) 4.3 4.3 MEA Market Share 4.6%
Slide 55: FY 2015 Key Metrics – Asia Pacific
AUTOMOTIVE SECTOR – ASIA PACIFIC FY 2015 KEY METRICS COMPARED WITH 2014 Wholesales* Revenue Operating Margin Pre-Tax Results (000) (Bils) (Pct) (Mils) 1,439 1,464 $10.7 $10.7 $765 7.1% $593 5.5% $1,280** $1,514** 2014 2015 2014 2015 2014 2015 2014 2015 FY 2014 2015 AP Industry (Mils) 39.7 40.5 AP Ma
Slide 56: FY 2015 Pre-Tax Results – Asia Pacific
AUTOMOTIVE SECTOR – ASIA PACIFIC FY 2015 PRE-TAX RESULTS COMPARED WITH 2014 (MILS) $172 Industry $157 Share (64) Stocks (65) $765 Mix / Other 267 $593 $460 $295 $160 $23 $(220) $(546) Volume / Net Contribution Structural FY 2014 FY 2015 Mix Pricing Cost Cost Exchange Other APPENDIX 26
Slide 57: China Unconsolidated Affiliates
AUTOMOTIVE SECTOR – ASIA PACIFIC CHINA UNCONSOLIDATED AFFILIATES 4Q FY 2014 2015 2014 2015 China Unconsolidated Affiliates Wholesales (000) 291 340 1,077 1,123 Ford Equity Income (Mils)* $ 323 $ 490 $ 1,280 $ 1,514 * Ford equity share of China joint ventures net income APPENDIX 27
Slide 58: 2015 Full Year Key Metrics – Ford Credit
FINANCIAL SERVICES SECTOR – FORD CREDIT 2015 FULL YEAR KEY METRICS COMPARED WITH 2014 U.S. Retail and Lease Contract Managed Average Over-60-Day Loss-to-Receivables Volume Receivables* Pre-Tax Results Placement Delinquencies (LTR) (000) (Bils) (Mils) FICO (Pct) (Pct) 2,141 $127 741 740 1,974 $2,086
Slide 59: FY 2015 Pre-Tax Results – Ford Credit
FINANCIAL SERVICES SECTOR – FORD CREDIT FY 2015 PRE-TAX RESULTS COMPARED WITH 2014 (MILS) $232 $2,086 $1,854 $474 $28 $29 $(21) $(115) $(163) Volume / Financing Credit Lease 2014 2015 Mix Margin Loss Residual Exchange Other APPENDIX 29
Slide 60: Definitions and Calculations
DEFINITIONS AND CALCULATIONS Wholesales and Revenue • Wholesale unit volumes include all Ford and Lincoln badged units (whether produced by Ford or by an unconsolidated affiliate) that are sold to dealerships, units manufactured by Ford that are sold to other manufacturers, units distributed by Ford
Ford Motor Company — Q4 2015 and FY2015 Earnings Presentation on 6ix