Ford 2009 Annual Report Download - page 161

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Notes to the Financial Statements
Ford Motor Company | 2009 Annual Report 159
NOTE 28. SEGMENT INFORMATION (Continued)
Ford South America segment includes primarily the sale of Ford-brand vehicles and related service parts in South
America.
Ford Europe segment includes primarily the sale of Ford-brand vehicles and related service parts in Europe (including
all parts of Turkey and Russia).
Ford Asia Pacific Africa segment includes primarily the sale of Ford-brand vehicles and related service parts in the
Asia Pacific region and South Africa.
The Volvo segment includes primarily the sale of Volvo-brand vehicles and related service parts throughout the world
(including in North America, South America, Europe, Asia Pacific, and Africa).
The Mazda segment includes the equity income/(loss) associated with our investment in Mazda (33.4% of Mazda's
profit after tax before the sale of a portion of our investment in November 2008), as well as certain of our Mazda-related
investments. Beginning with the fourth quarter of 2008, our remaining investment in Mazda (approximately 11%) is
treated as marketable securities. All mark-to-market adjustments are recorded in Other Automotive.
Prior to the sale of these brands, the Jaguar Land Rover and Aston Martin segment included primarily the sale of
Jaguar Land Rover and Aston Martin vehicles and related service parts throughout the world (including in North America,
South America, Europe, Asia Pacific, and Africa). In May 2007 and June 2008, respectively, we completed the sale of
Aston Martin and Jaguar Land Rover; sales of Aston Martin and Jaguar Land Rover vehicles and related service parts
throughout the world are included within this segment for the period until each brand's respective date of sale.
The Other Automotive component of the Automotive sector consists primarily of centrally-managed net interest
expense and related fair market value adjustments.
Transactions among Automotive segments generally are presented on a "where-sold," absolute-cost basis, which
reflects the profit/(loss) on the sale within the segment making the ultimate sale to an external entity. This presentation
generally eliminates the effect of legal entity transfer prices within the Automotive sector for vehicles, components, and
product engineering. Beginning with the first quarter of 2008, income/(loss) before income taxes on vehicle component
sales by Volvo or Jaguar Land Rover to each other or to any other segment and by the Ford-brand segments to either
Volvo or Jaguar Land Rover are reflected in the results for the segment making the vehicle component sale.
Financial Services Sector
The Financial Services sector includes the following segments: 1) Ford Credit, and 2) Other Financial Services. Ford
Credit provides vehicle-related financing, leasing, and insurance. Other Financial Services includes a variety of
businesses including holding companies, real estate, and the financing and leasing of some Volvo vehicles in Europe.