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Ford To Take $2.2 Bln Charge In Q4 Related To Pension Plans

Ford Motor Co. (F) disclosed in a regulatory filing that it expects to take a pretax charge of $2.2 billion in the fourth-quarter related to pension costs that will reduce net income by about $1.7 billion.

The charge includes a $2.0 billion loss associated with pension plans outside the United States and a $600 million loss associated with other postretirement employee benefits plans globally, offset by a $400 million gain associated with pension plans in the United States.

The company noted that remeasurement loss did not have an impact on its cash in 2019, and does not change its expectations for pension contributions in 2020.

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