3 unchanged sentences
OTHER MATTERS
−Removed: Brazilian Tax Matters (as previously reported on page 35 of our 2023 Form 10-K Report).
+Added: Brazilian Tax Matters (as previously reported on page 35 of our 2023 Form 10-K Report and page 66 of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2024).
One Brazilian state (São Paulo) and the Brazilian federal tax authority currently have outstanding substantial tax assessments against Ford Motor Company Brasil Ltda.
9 unchanged sentences
Although the ultimate resolution of these matters may take many years, we consider our overall risk of loss to be remote.
−Removed: Transit Connect Customs Penalty Notice (as previously reported on page 36 of our 2023 Form 10-K Report) .
−Removed: Customs and Border Protection (“CBP”) ruled in 2013 that Transit Connects imported as passenger wagons and later converted into cargo vans are subject to the 25% duty applicable to cargo vehicles, rather than the 2.5% duty applicable to passenger vehicles.
−Removed: We filed a challenge in the U.S.
−Removed: Court of International Trade (“CIT”), and CIT ruled in our favor in 2017.
−Removed: CBP subsequently filed a notice of appeal to the U.S.
−Removed: Court of Appeals for the Federal Circuit, which ruled in favor of CBP.
−Removed: Following the U.S.
−Removed: Supreme Court’s denial of our petition for a writ of certiorari in 2020, we paid the increased duties for certain prior imports, plus interest, and disclosed that CBP might assert a claim for penalties.
−Removed: Subsequently, CBP issued a penalty notice to us dated July 22, 2021, and on November 18, 2021, CBP assessed against us a monetary penalty of $1.3 billion and additional duties of $181 million, plus interest.
−Removed: On March 11, 2024, Ford entered into a settlement agreement for this matter, which included a payment of $365 million to the United States.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.