Ford Motor Co. F, +0.88% said Tuesday it expects to book an impairment charge of $800 million to $900 million related to fixed assets in its India Automotive operations. The charge is required based on held-for-sale impairment testing conducted in connection with the pending sale of assets to a joint venture in India that Ford is creating with Mahindra & Mahindra Ltd. 500520, +1.71%, the company said in a regulatory filing. The charge will not result in cash expenditures, said the filing. Ford said it still expects about $11 billion in potential EBIT (earnings before interest and taxes) charges for a global overhaul of its operations, with a negative cash effect of about $7 billion. Shares were not active premarket, but have gained 19.7% in 2019, while the S&P 500 SPX, +0.50% has gained 18.7%.
https://www.marketwatch.com/story/ford-expects-to-book-q3-impairment-charges-of-up-to-900-million-on-india-fixed-assets-2019-10-01
2019-10-01 11:25:00Z
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