DETROIT — Ford Motor Co. reversed a loss and rode some big accounting changes to post a $17.94 billion net profit last year, even as it battled computer chip shortages that caused factory slowdowns and vehicle shortages.

U.S. sales for the Dearborn, Michigan, automaker fell 7% for the year over depressed 2020 numbers. But customers paid record prices of nearly $51,000 per vehicle in Ford’s most lucrative market.

Excluding the one-time items, the company made $1.59 per share, falling short of analyst estimates of $1.86, according to FactSet. Revenue rose 7.2% to $136.34 billion.

That was short of analyst estimates of $137.61 billion.

Ford’s net income reversed a loss of $1.28 billion last year as it also dealt with a huge restructuring, a costly recall and a decline in the value of its pension f