Ford’s pension accounting swap brings US$1.5bn pre-tax boost

Ford's pre-tax profit for 2015 will get a US$1.5bn boost due to a change in how it reports pension and other postretirement employee benefits (OPEB). According to Ford's financial experts, the move to a mark-to-market approach (also known as immediate recognition accounting), adopted as of 31 December 2015, offers greater transparency into the company's operations and provides a clearer base of comparison to its closest competitors.