Question Description
Analyze the Statement of Retained Earnings for the Ford Motor Credit Company. Next, discuss any additions or subtractions recorded for the period from the perspective of a financial analyst. Be sure to discuss what you found interesting about these additions or subtractions.
Statement of Retained Earnings: In conjunction with Ford Motor Credit Company, Ford Motor has issued several types of bonds which are long-term, with an equal or slightly above par value. The company issues corporate bonds which are of three main types: investment grade, high-yield grade and “others”. Investment grade category includes those bonds rated “Baa3/BBB” by more than 2 trade-rating companies (Bob Shanks, 2016). The company issued ‘call-protected’ 5-year corporate bonds on the 28th of March 2013, meaning that the bonds mature in 2018. The 21st of March 2013 saw Ford Motor company issue 10-year corporate bonds at a 3.75% coupon rate, an increase of 0.1% from the previously issued 10-year bonds’ coupon rate (Bob Shanks, 2016). The yearly yield of the Baa3-rated corporate bond of five years is 370% relative to the U.S. Treasury 0.8% bonds.
Bob Shanks. (2016). Ford Motor Company Annual Report on Form 10-K. Washington D.C.:
United States Securities and Exchange Commission.
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