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Ford Workers To Get Record Profit-Sharing Checks After $7.4 Billion Year

By Jeff Gilbert

A great year at Ford will mean record profit sharing checks of $9,300 for the company's workers.

For the company, a $1.9 billion dollar fourth quarter profit lead to a full year profit of $7.4 billion.

"We promised a breakthrough year in 2015, and we delivered," said Ford CEO Mark Fields.

One Ford worker was less than impressed, writing an email to WWJ 950 to say, "You know $9,300.00 is a nice headline but you fail to mention that we already got $1,500.00 of that last fall when ratified the new contract so really we're only getting $7,800.00, then don't forget the 42% taxes Uncle Sam gets on bonuses and that leaves with about $4,500.00 take home. Still great but far from what you make it sound."

Ford's pre-tax earnings were $10.8 billion, in the upper range of the earlier guidance of "between 10 and 11 billion dollars."

Ford was profitable in all areas of the world except in economically challenged Latin America. But, North America was the biggest profit driver, with a pre-tax income of $9.3 billion, which is the amount the profit sharing checks are based on.

"Ford's truck and SUV success in the fourth quarter helped it deliver on claims of record profit in 2015," said Kelley Blue Book analyst Karl Brauer.

The biggest challenge for Ford comes in Latin America, where tough economic conditions lead to a loss of $832 million.

Ford's European operations--which had been losing money--earned $259 million. The company earned $765 million in its growing Asia Pacific region, and posted a $31 million dollar profit in the Middle East and Africa.

"We delivered improvements in 2015 on every single driver of value in our business--growth, returns, risk and rewards," said Ford Chief Financial Officer Bob Shanks. "We look forward to 2016 and strengthening the value proposition at Ford even further."

With industry sales expected to grow in 2016, and with new versions of the F-150, Escape, Edge and Explorer, Ford expects earnings this year to be as good, or better than 2015. Kelley Blue Book's Karl Brauer sees Ford's growth continuing.

"Despite some headwinds in China and South America the company continues to build momentum, and profit, in most global markets."

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