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Ford asks for more time to restate earnings due to changes

SHARE Ford asks for more time to restate earnings due to changes

DEARBORN, Mich. — Ford Motor Co. says it needs more time to restate its earnings for accounting errors that involved interest rate hedging at its financial arm.

The company, in a filing with the Securities and Exchange Commission on Thursday, said it would file the proper forms on or before Tuesday. The deadline had been Thursday.

Ford reported a third-quarter loss of $5.8 billion, or $3.08 per share, on Oct. 23, and said it would have to restate five years worth of earnings due to accounting mistakes at Ford Motor Credit Corp. That compares with a $284 million loss, or 15 cents per share, during the same period of 2005.

The company said it did not expect significant changes in year-over-year results for the third quarter.

"We do anticipate changes, in some cases significant, in prior period results," Ford's SEC filing said.