Ford expects $1.7B pre-tax pension/OPEB remeasurement loss in Q4 2023, with no cash impact

FORD MOTOR CO

Pre-tax remeasurement loss of ~$1.7B, after-tax ~$1.3B, from lower discount rates partially offset by asset gains.
Breakdown: $0.5B US pensions, $0.9B non-US pensions, $0.3B OPEB plans globally.
Special item; no impact on total Company adjusted EBIT, adjusted EPS, or 2024 pension contribution expectations.
Underfunded status at year-end 2023: pensions ~$2.3B, OPEB ~$4.7B, up from $0.2B and $4.5B a year earlier.
Remains non-cash; funded plans fully funded in aggregate; no change to 2024 pension contributions.

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