(October 24, 2013) DEARBORN, Mich. — Ford delivered record third quarter 2013 pre-tax profit of $2.6 billion, reflecting continued strong performance in North America and a combined profit from the regions outside North America. In addition, Ford Credit remained solidly profitable.
 
Total company third quarter pre-tax profit of $2.6 billion was $426 million higher than a year ago. Third quarter earnings per share of 45 cents was 5 cents per share higher than a year ago.
 
Net income for the third quarter of $1.3 billion, or 31 cents per share, was down $359 million, or 10 cents per share, compared with a year ago due to pre-tax special item charges of $498 million. Special item charges included $250 million for separation-related actions, primarily in Europe to support the company’s transformation plan, and $145 million associated with Ford’s U.S. salaried retiree voluntary lump sum payout program as part of the company’s pension de-risking strategy.
 
Automotive operating-related cash flow was $1.6 billion, a third quarter record, marking the 14th consecutive quarter of positive performance. The company ended the third quarter with strong liquidity of $37.5 billion, an increase of $400 million compared with the end of the second quarter of 2013.
 
“Ford’s record results in the third quarter show the strength of our One Ford plan around the world,” said Alan Mulally, Ford president and CEO. “Working together, we remain committed to serving customers in all markets with a full family of vehicles, offering the very best quality, fuel efficiency, safety, smart design and value.”
 
During the quarter, Ford contributed $1.1 billion to its global funded pension plans, which included about $700 million of discretionary payments to its U.S. funded plans as part of the company’s pension de-risking strategy.
 
In the third quarter, the company settled about $700 million of pension obligations related to its U.S. salaried retiree voluntary lump sum program, and has settled $3.4 billion since the program began in August 2012. The lump sum program is about 80 percent complete and concludes at the end of the year.