FORD MOTOR CO (F): restructuring charge — Ford records ~$19.5B in special items, cancels EVs, ends F-150 Lightning, launches battery storage

FORD MOTOR CO

Aggregate special items ~$19.5B pre-tax, majority in Q4 2025: ~$8.5B Model e asset write-down, ~$3B BOSK impairment, plus program cancellation costs.
Cancels three planned EVs (full-size pickup, two commercial vans); ends current F-150 Lightning production; next-gen Lightning will be extended-range EV.
Enters JV disposition agreement for BlueOval SK; Ford subsidiary to own Kentucky battery plants, SK On to own Tennessee plant.
Raises 2025 adjusted EBIT guidance to ~$7B; reaffirms FCF trend to high end of $2-3B; expects ~$5.5B cash outflows from special items, mainly in 2026.
Launches battery energy storage business using Kentucky plants; plans 20 GWh annual capacity by late 2027; invests ~$2B over two years.

item 2.06 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

FORD MOTOR CO announced a impairment with charges of about $8.5 billion affecting Ford Model e segment.

Type: impairment
Charge: about $8.5 billion
Affected area: Ford Model e segment

Exact text from the filing

As a result, we concluded that our Ford Model e segment long-lived assets are impaired. In addition, we will write down certain other long-lived assets related to the canceled EVs. The aggregate expected pre-tax write-down is estimated to be about $8.5 billion, which will be recognized in the fourth quarter of 2025.

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Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

FORD MOTOR CO announced a impairment with charges of about $3 billion affecting BlueOval SK, LLC.

Type: impairment
Charge: about $3 billion
Affected area: BlueOval SK, LLC

Exact text from the filing

As a result of Ford’s entry into the Joint Venture Disposition Agreement, on December 9, 2025, we concluded that we will recognize a charge related to our share of BOSK’s long-lived asset impairment and the impairment of our remaining investment in BOSK. The aggregate expected pre-tax charge is estimated to be about $3 billion, which will be recognized in the fourth quarter of 2025.

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3 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

FORD MOTOR CO filing history →

Source: SEC EDGAR

accession 0000037996-25-000238

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