Ford Motor Co. said it will take a one-time pretax charge of $800 million because the inability to exchange U.S. dollars for Venezuelan bolivars has restricted operations in the South American country.
Ford's US$500 million cash balance in its Venezuelan operations will no longer be included in the company's automotive gross cash, the company said today in a filing. The automaker said it will count cash and income from Venezuelan operations only when the parent company is paid for parts sold to the unit or it pays dividends to the parent.
The second-largest U.S. automaker said the charge will reduce its fourth quarter net income by about $700 million, but it doesn't affect the full-year pretax profit forecast of about $6 billion.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
