قالب وردپرس درنا توس
Home / Business / Ford expects to post impairment charges of up to $ 900 million in fixed assets in India in the third quarter

Ford expects to post impairment charges of up to $ 900 million in fixed assets in India in the third quarter



Ford Motor Co.

F, + 0.88%

said on Tuesday that it expects to post an impairment of $ 800 million to $ 900 million related to fixed assets in the India Automotive business. The measure is required based on a write-down test for sales carried out in connection with the pending sale of assets to a joint venture in India that Ford creates with Mahindra & Mahindra Ltd.

500520, + 1

.71% ,

the company said in a regulatory filing. The fee will not result in cash expenses, the filing states. Ford said it still expects about $ 11 billion in potential EBIT (earnings before interest and taxes) for a global overhaul of the business, with a negative cash effect of around $ 7 billion. Shares were not active premarket, but gained 19.7% in 2019, while the S&P 500

SPX, + 0.50%

has received 18.7%.


Source link