Ford Motor Credit Company Third Quarter 2021 Earnings
10/27/2021 | 04:36pm EST
Q3 2021 Earnings Review
October 27, 2021
Information Regarding This Presentation
This presentation includes forward-looking statements. Forward-looking statements are based on expectations, forecasts, and assumptions by our management and involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those stated. For a discussion of these risks, uncertainties, and other factors, please see the "Cautionary Note on Forward-Looking Statements" at the end of this presentation and "Item 1A. Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2020, as updated by subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
GAAP AND NON-GAAP FINANCIAL MEASURES
This presentation includes financial measures calculated in accordance with Generally Accepted Accounting Principles ("GAAP") and non- GAAP financial measures. The non-GAAP financial measures are intended to be considered supplemental information to their comparable GAAP financial measures. The non-GAAP financial measures are defined and reconciled to the most comparable GAAP financial measures in the Appendix to this presentation.
Calculated results may not sum due to rounding. N / M denotes "Not Meaningful." All variances are year-over-year unless otherwise noted.
Effective January 1, 2021, we adopted Accounting Standards Update ("ASU") 2019-12, which allows for the simplification of accounting for income taxes. As a result, return on equity, net income, distributions, leverage, and equity have been updated in the prior comparator periods to reflect the update.
Best-in-class finance company
Auction Values (Per Unit) *
U.S. Retail LTR Ratio (%)
• Auction values of off-lease vehicles
continue at near-record levels
Proactive lease extension program
to address inventory shortages
Launched next generation Ford Pro
FinSimple, reducing financing
approval time nearly 90%
• Portfolio performing well - near-zero
credit losses for the past two
Q3 EBT YoY ($M)
* U.S. 36-monthoff-lease auction values at Q3 2021 mix
Ford Motor Company published this content on 27 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2021 20:33:16 UTC.