Ford 2007 Annual Report Download - page 102

Notes to the Financial Statements
100 Ford Motor Company | 2007 Annual Report
NOTE 22. OPERATING CASH FLOWS (Continued)
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The reconciliation between total sector and consolidated cash flows from operating activities of continuing operations is
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* In addition to vehicles sold by us, the cash flows from wholesale finance receivables being reclassified from investing to operating include financing by
Ford Credit of used and non-Ford vehicles. 100% of cash flows from wholesale finance receivables have been reclassified for consolidated
presentation as the portion of these cash flows from used and non-Ford vehicles are impracticable to separate.
Cash paid/(received) for interest and income taxes for continuing operations was as follows (in millions):
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NOTE 23. DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES
Our operations are exposed to global market risks, including the effect of changes in foreign currency exchange rates,
certain commodity prices and interest rates. The objective of our risk management program is to manage the financial
and operational exposure arising from these risks by offsetting gains and losses on the underlying exposures with gains
and losses on derivatives used to hedge them. We document our hedging objectives, practices, procedures, and
accounting treatment. In addition, we review our hedging program and our derivative positions, as well as our strategy, on
a regular basis.