Ford 2009 Annual Report Download - page 86

Notes to the Financial Statements
84 Ford Motor Company | 2009 Annual Report
NOTE 1. PRESENTATION (Continued)
The following shows the effect on the per share amounts attributable to Ford Common and Class B Stock associated
with our 2036 Convertible Notes before and after the adoption of the standard on accounting for convertible debt
instruments:
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Trading Securities. Beginning with our statement of cash flows for the year ended December 31, 2008, we changed
the presentation of cash flows to separately disclose the purchases of trading securities and the sale and maturities of
trading securities as gross amounts within Cash flows from investing activities of continuing operations instead of Cash
flows from operating activities of continuing operations. This change is in response to our election to apply the fair value
option to our available-for-sale and held-to-maturity securities on January 1, 2008.
Reconciliations between Consolidated and Sector Financial Statements
Deferred Tax Assets and Liabilities. The amount of total assets and total liabilities in our sector balance sheet differ
from the amounts in our consolidated balance sheet by $3,040 million and $4,649 million at December 31, 2009 and
2008, respectively. As shown in the table below, the difference is the result of a reclassification for netting of deferred
income tax assets and liabilities (in millions):
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__________
* Financial Services deferred income tax assets are included in Financial Services other assets on our sector balance sheet.
Debt Reduction Actions
During 2008 and 2009, we completed numerous financing transactions designed to improve our balance sheet,
including the repurchase of Automotive and Financial Services debt. The transactions involved, among other things, the
repurchase of Automotive sector debt by the Financial Services sector and the repurchase of Financial Services sector
debt by the Automotive sector. Because of the intercompany impacts, the transactions have been recorded differently in
the consolidated and sector balance sheets. There also are differences in the way the transactions have been recorded
in the consolidated and sector statements of cash flows. See the table below for the reconciliation between total sector
and consolidated cash flows.