DEARBORN, Mich. (AP) — Ford Motor Co. has reported its first quarterly loss in two years due to a pension accounting charge and poor performances in Europe and China.
The Dearborn, Michigan, company on Wednesday said it lost $116 million, or 3 cents a share, in the fourth quarter compared with a $2.52 billion profit in the same period a year earlier.
The loss included an $877 million charge to revalue pension assets due a late-year market slide.
Excluding one-time items, the company posted a profit of 30 cents per share. That fell just short of analyst estimates of a profit of 31 cents.
The company still made $3.68 billion for the full year. That means U.S. unionized workers will get profit-sharing checks of $7,600 in March.
