(Reuters) -Ford Motor said on Wednesday it expects to record a pretax remeasurement loss of about $1.7 billion, related to its employees pension and other post-retirement benefits, in its fourth-quarter results.
On an after-tax basis, Ford says the loss will lower its net income by around $1.3 billion.
The Detroit automaker said the loss was driven by lower discount rates from a year ago.
A remeasurement loss relates to losses arising from a company re-evaluating the value of long-term assets or foreign currency.
Ford’s announcement comes a week ahead of Detroit rival General Motors’ fourth-quarter results and two weeks before its own.
Shares of Ford rose 1.6% on Thursday amid a rise in broader U.S. markets.
(Reporting by Nathan Gomes in Bengaluru; Editing by Shilpi Majumdar)
