Ford Motor Company filed SEC Form 8-K: Material Impairments, Regulation FD Disclosure, Financial Statements and Exhibits
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Auto Manufacturing
Consumer Discretionary
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: August 19, 2024
(Date of earliest event reported)
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation)
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Item 2.06. Material Impairments.
On August 19, 2024, we concluded that a material charge is required related to the write-down of certain product-specific manufacturing and vendor tooling assets intended to be utilized for previously planned all-electric three-row SUVs that we no longer intend to produce. This was based upon our decision to instead leverage hybrid technologies for our next three-row SUVs. The expected charge is estimated to be about $400 million and will be reflected in our financial statements for the third quarter of 2024. We expect the charge to be treated as a special item. The charge will not result in any cash expenditures.
Item 7.01. Regulation FD Disclosure.
As a result of the above decision not to produce the previously planned all-electric three-row SUVs, we may incur additional expenses and cash expenditures of up to about $1.5 billion and will reflect those in the quarter they are incurred as a special item.
Our news release dated August 21, 2024 is furnished as Exhibit 99 to this Report and is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
EXHIBITS*
| Designation | Description | Method of Filing | ||||||
| News release dated August 21, 2024 | Furnished with this Report | |||||||
| Exhibit 104 | Cover Page Interactive Data File | ** | ||||||
| (formatted in Inline XBRL) | ||||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FORD MOTOR COMPANY | ||||||||
| (Registrant) | ||||||||
| Date: August 21, 2024 | By: | /s/ David J. Witten | ||||||
| David J. Witten | ||||||||
| Assistant Secretary | ||||||||
| * | Any reference in the attached exhibit(s) to our corporate website(s) and/or other social media sites or platforms, and the contents thereof, is provided for convenience only; such websites or platforms and the contents thereof are not incorporated by reference into this Report nor deemed filed with the Securities and Exchange Commission. | |||||||
| ** | Submitted electronically with this Report in accordance with the provisions of Regulation S-T. | |||||||