Ford Motor changes pension reporting, sees rise in 2015 profit

Ford Motor changes pension reporting

Ford Motor said on Thursday it will restate its financial results since 2011 and show a $1.5 billion rise in 2015 pretax profit because it is moving to a mark-to-market method of reporting pension expenses.

Ford's forecast for 2015 operating profit is now $10 billion to $11 billion, up from $8.5 billion to $9.5 billion.

Mark-to-market, also called immediate recognition reporting, allows Ford to report the impact of pensions on its balance sheet in the year they occur, rather than "smoothing" them over a period of several years.