>Ford Blue, the unit that sells internal combustion and gas-electric hybrid vehicles, made just over $10 billion before taxes during the last two years. Ford Pro, the commercial vehicle unit, made $5.9 billion during those years, the company said.

They litterally said they resplit their companies from regions to products to show how their bread an butter(the one with 20+ models is stil profitable while the one that is developing (the one with 3 models with a ton of R&D) is the one with debt. They still make 16bn on ICE cars and trucks while losing 3bn on models not even 2 years old.

If I'm reading between the lines, the division with all the growth is losing money as all the R&D is overhead cost and the sales are starting to return revenue.

Ford gets to tell their investors that they are making good money by putting all the rightful debt spendings on EVs while their earnings numbers are untouched.

Even in the report it says they expect EVs to drag on a short to mid term basis.