FORD MOTOR CREDIT CO LLC - FORM 8-K - EX-99.2 - EXHIBIT 99.2 - January 7, 2016

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The following table shows Ford Motor Company’s previously reported and revised results (in millions, except per share amounts):
 
Automotive Sector
 
Operating Segments
 
Reconciling Items
 
 
 
North America
 
Europe
 
Rest of World (a)
 
Other Automotive
 
Special Items
 
 
 
 
 
 
 
 
Total
For the First Nine Months Ended September 30, 2015
 
 
 
 
 
 
 
 
 

 
 
Income/(Loss) before income taxes - Previously Reported
$
6,607

 
$
(381
)
 
$
(204
)
 
$
(542
)
 
$
166

 
$
5,646

Elimination of (gain)/loss amortization
579

 
478

 
2

 
—

 
—

 
1,059

Other - primarily asset fair value change and inventory effects
130

 
31

 
4

 
—

 
—

 
165

Net remeasurement gain/(loss)
—

 
—

 
—

 
—

 
—

 
—

Income/(Loss) before income taxes - Automotive Sector - Revised
$
7,316

 
$
128

 
$
(198
)
 
$
(542
)
 
$
166

 
$
6,870

Income before income taxes - Financial Services Sector
 
 
 
 
 
 
 
 
 
 
1,486

Income before income taxes
 
 
 
 
 
 
 
 
 
 
$
8,356

(Provision for)/Benefit from income taxes
 
 
 
 
 
 
 
 
 
 
(2,849
)
(Income)/Loss attributable to noncontrolling interests
 
 
 
 
 
 
 
 
 
 
(2
)
Net income attributable to Ford Motor Company
 
 
 
 
 
 
 
 
 
 
$
5,505

 
 
 
 
 
 
 
 
 
 
 
 
Diluted earnings per common share - Revised
 
 
 
 
 
 
 
 
 
 
$
1.38

 
 
 
 
 
 
 
 
 
 
 
 
Memo: Diluted earnings per common share excluding special items
 
 
 
 
 
 
 
 
 
$
1.35

 
 
 
 
 
 
 
 
 
 
 
 
For the Year Ended December 31, 2014
 
 
 
 
 
 
 
 
 

 
 
Income/(Loss) before income taxes - Previously Reported
$
6,898

 
$
(1,062
)
 
$
(593
)
 
$
(755
)
 
$
(1,940
)
 
$
2,548

Elimination of (gain)/loss amortization
481

 
411

 
(1
)
 
—

 
—

 
891

Other - primarily asset fair value change and inventory effects
64

 
53

 
3

 
—

 
—

 
120

Net remeasurement gain/(loss) and other special items (b) (c)
—

 
—

 
—

 
—

 
(4,119
)
 
(4,119
)
Income/(Loss) before income taxes - Automotive Sector - Revised
$
7,443

 
$
(598
)
 
$
(591
)
 
$
(755
)
 
$
(6,059
)
 
$
(560
)
Income before income taxes - Financial Services Sector
 
 
 
 
 
 
 
 
 
 
1,794

Income before income taxes
 
 
 
 
 
 
 
 
 
 
$
1,234

(Provision for)/Benefit from income taxes
 
 
 
 
 
 
 
 
 
 
(4
)
(Income)/Loss attributable to noncontrolling interests

 
 
 
 
 
 
 
 
 
 
1

Net income attributable to Ford Motor Company
 
 
 
 
 
 
 
 
 
 
$
1,231

 
 
 
 
 
 
 
 
 
 
 
 
Diluted earnings per common share - Revised
 
 
 
 
 
 
 
 
 
 
$
0.31

 
 
 
 
 
 
 
 
 
 
 
 
Memo: Diluted earnings per common share excluding special items
 
 
 
 
 
 
 
 
 
$
1.34

 
 
 
 
 
 
 
 
 
 
 
 
For the Year Ended December 31, 2013
 
 
 
 
 
 
 
 
 

 
 
Income/(Loss) before income taxes - Previously Reported
$
8,809

 
$
(1,442
)
 
$
225

 
$
(656
)
 
$
(1,568
)
 
$
5,368

Elimination of (gain)/loss amortization
1,054

 
443

 
2

 
—

 
—

 
1,499

Other - primarily asset fair value change and inventory effects
14

 
(26
)
 
—

 
—

 
—

 
(12
)
Net remeasurement gain/(loss) and other special items (c)
—

 
—

 
—

 
—

 
5,844

 
5,844

Income/(Loss) before income taxes - Automotive Sector - Revised
$
9,877

 
$
(1,025
)
 
$
227

 
$
(656
)
 
$
4,276

 
$
12,699

Income before income taxes - Financial Services Sector
 
 
 
 
 
 
 
 
 
 
1,672

Income before income taxes
 
 
 
 
 
 
 
 
 
 
$
14,371

(Provision for)/Benefit from income taxes
 
 
 
 
 
 
 
 
 
 
(2,425
)
(Income)/Loss attributable to noncontrolling interests

 
 
 
 
 
 
 
 
 
 
7

Net income attributable to Ford Motor Company
 
 
 
 
 
 
 
 
 
 
$
11,953

 
 
 
 
 
 
 
 
 
 
 
 
Diluted earnings per common share - Revised
 
 
 
 
 
 
 
 
 
 
$
2.94

 
 
 
 
 
 
 
 
 
 
 
 
Memo: Diluted earnings per common share excluding special items
 
 
 
 
 
 
 
 
 
$
1.86

__________
(a)
Includes South America, Middle East & Africa, and Asia Pacific Automotive segments.
(b)
Included in 2014 net remeasurement gain/(loss) is a $(782) million adjustment to correct for an understatement in the year-end 2014 valuation of our U.S. pension benefit obligation previously recorded in the first quarter of 2015 and disclosed in our Quarterly Reports on Form 10-Q filed in 2015.
(c)
Other special items include the reversal of settlement expense related to recognition of unamortized gains/losses.




The following table shows the Automotive sector’s previously reported and revised results (in millions):
 
Automotive Sector
 
2015
 
2014
 
September 30
 
June
30
 
March
31
 
December 31
 
September 30
 
June
30
 
March
31
 
 
 
 
 
 
 
North America
 
 
 
 
 
 
 
 
 
 
 

 
.
Income/(Loss) before income taxes - Previously   Reported
$
2,670

 
$
2,597

 
$
1,340

 
$
1,548

 
$
1,410

 
$
2,440

 
$
1,500

Elimination of (gain)/loss amortization
192

 
193

 
194

 
120

 
121

 
120

 
120

Other - primarily asset fair value change and    inventory effects
47

 
48

 
35

 
(54
)
 
6

 
7

 
105

Income/(Loss) before income taxes - Revised
$
2,909

 
$
2,838

 
$
1,569

 
$
1,614

 
$
1,537

 
$
2,567

 
$
1,725

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Europe
 
 
 
 
 
 
 
 
 
 
 

 
.
Income/(Loss) before income taxes - Previously   Reported
$
(182
)
 
$
(14
)
 
$
(185
)
 
$
(443
)
 
$
(439
)
 
$
14

 
$
(194
)
Elimination of (gain)/loss amortization
160

 
156

 
162

 
99

 
104

 
105

 
103

Other - primarily asset fair value change and   inventory effects
31

 
19

 
(19
)
 
47

 
5

 
5

 
(4
)
Income/(Loss) before income taxes - Revised
$
9

 
$
161

 
$
(42
)
 
$
(297
)
 
$
(330
)
 
$
124

 
$
(95
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Rest of World (a)
 
 
 
 
 
 
 
 
 
 
 

 
.
Income/(Loss) before income taxes - Previously   Reported
$
(158
)
 
$
(39
)
 
$
(7
)
 
$
(174
)
 
$
(141
)
 
$
(113
)
 
$
(165
)
Elimination of (gain)/loss amortization
—

 
1

 
1

 
(1
)
 
—

 
—

 
—

Other - primarily asset fair value change and   inventory effects
2

 
1

 
1

 
1

 
—

 
1

 
1

Income/(Loss) before income taxes - Revised
$
(156
)
 
$
(37
)
 
$
(5
)
 
$
(174
)
 
$
(141
)
 
$
(112
)
 
$
(164
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other Automotive
 
 
 
 
 
 
 
 
 
 
 

 
.
Income/(Loss) before income taxes - Previously   Reported
$
(163
)
 
$
(167
)
 
$
(212
)
 
$
(218
)
 
$
(144
)
 
$
(171
)
 
$
(222
)
Elimination of (gain)/loss amortization
—

 
—

 
—

 
—

 
—

 
—

 
—

Other - primarily asset fair value change and   inventory effects
—

 
—

 
—

 
—

 
—

 
—

 
—

Income/(Loss) before income taxes - Revised
$
(163
)
 
$
(167
)
 
$
(212
)
 
$
(218
)
 
$
(144
)
 
$
(171
)
 
$
(222
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Special Items
 
 
 
 
 
 
 
 
 
 
 

 
.
Income/(Loss) before income taxes - Previously   Reported
$
166

 
$
—

 
$
—

 
$
(1,177
)
 
$
(160
)
 
$
(481
)
 
$
(122
)
Net remeasurement gain/(loss) and other special   items (b)
—

 
—

 
—

 
(4,119
)
 
—

 
—

 
—

Income/(Loss) before income taxes - Revised
$
166

 
$
—

 
$
—

 
$
(5,296
)
 
$
(160
)
 
$
(481
)
 
$
(122
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
 
 
 
 
 
 
 
 
 
 

 
.
Income/(Loss) before income taxes - Previously   Reported
$
2,333

 
$
2,377

 
$
936

 
$
(464
)
 
$
526

 
$
1,689

 
$
797

Elimination of (gain)/loss amortization
352

 
350

 
357

 
218

 
225

 
225

 
223

Other - primarily asset fair value change and   inventory effects
80

 
68

 
17

 
(6
)
 
11

 
13

 
102

Special items
—

 
—

 
—

 
(4,119
)
 
—

 
—

 
—

Income/(Loss) before income taxes - Revised
$
2,765

 
$
2,795

 
$
1,310

 
$
(4,371
)
 
$
762

 
$
1,927

 
$
1,122

__________
(a)
Includes South America, Middle East & Africa, and Asia Pacific Automotive segments.
(b)
Included in fourth quarter 2014 net remeasurement gain/(loss) is a $(782) million adjustment to correct for an understatement in the year-end 2014 valuation of our U.S. pension benefit obligation previously recorded in the first quarter of 2015 and disclosed in our Quarterly Reports on Form 10-Q filed in 2015. Other special items includes the reversal of settlement expense related to recognition of unamortized gains/losses.


FORD MOTOR CREDIT CO LLC Reports