2010 Press Releases
FORD CREDIT EARNS $1.3 BILLION IN 2009*
DEARBORN, Mich., January 28, 2010 – Ford Motor Credit Company reported net income of $1.3 billion in
2009, an improvement of $2.8 billion from a net loss of $1.5 billion a year earlier. On a pre-tax basis, Ford
Credit earned $2 billion in 2009, compared with a loss of $2.6 billion in the previous year. Excluding the
$2.1 billion impairment charge for North America operating leases in the second quarter of 2008, Ford Credit
incurred a pre-tax loss of $473 million in 2008. The improvement in full year pre-tax earnings primarily
reflected the non-recurrence of the impairment charge, lower depreciation expense for leased vehicles due to
higher auction values, and a lower provision for credit losses, offset partially by lower volume. Ford Credit also
significantly reduced its operating costs in 2009 compared with the previous year.(continue...)
