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Notes to the Financial Statements
Ford Motor Company | 2010 Annual Report 99
NOTE 6. MARKETABLE AND OTHER SECURITIES
We hold various investments classified as marketable securities, including U.S. government and non-U.S. government
securities, foreign government agencies, corporate obligations and equities, and asset-backed securities. Highly-liquid
investments with a maturity of 90 days or less at the date of purchase are classified in Cash and cash equivalents.
Investment securities with a maturity date greater than 90 days at the date of the security's acquisition are classified as
Marketable securities.
We elect to record marketable securities at fair value. Unrealized gains and losses are recorded in Automotive interest
income and other non-operating income/(expense), net and Financial Services income/(loss), net. Realized gains and
losses are accounted for using the specific identification method. See Note 4 for information regarding how we determine
the fair value of marketable securities.
Investments in Marketable Securities
Investments in marketable securities at December 31 were as follows (in millions):
2010
20102010
2010
2009
20092009
2009
Fair Value
Fair ValueFair Value
Fair Value
Unrealized
Unrealized Unrealized
Unrealized
Gains/(Losses) (a)
Gains/(Losses) (a)Gains/(Losses) (a)
Gains/(Losses) (a)
Fair Value
Fair ValueFair Value
Fair Value
Unrealized
Unrealized Unrealized
Unrealized
Gains/(Losses) (a)
Gains/(Losses) (a)Gains/(Losses) (a)
Gains/(Losses) (a)
Automotive sector (b)................................
................................
$ 14,207 $ 34 $ 15,169 $ 141
Financial Services sector................................
................................
6,759 4 6,864 14
Intersector elimination (b) ................................
................................
(201) — (646) —
Total Company ................................
................................
$ 20,765 $ 38 $ 21,387 $ 155
__________
(a) Unrealized gains/(losses) for period related to instruments still held.
(b) "Fair Value" reflects an investment in Ford Credit debt securities shown at a carrying value of $201 million and $646 million (estimated fair
value of which is $203 million and $656 million) at December 31, 2010 and 2009, respectively. See Note 1 for additional detail.
Included in Automotive sector marketable securities above is our investment in Mazda. In the fourth quarter of 2010,
we sold 133 million shares of Mazda for net proceeds of $372 million. We continue to own 62 million shares of Mazda,
representing a 3.5% ownership interest. The fair value of our investment in Mazda at December 31, 2010 and 2009 was
$179 million and $447 million, respectively.
Other Securities
Investments in entities that we do not control and over which we do not have the ability to exercise significant influence
are recorded at cost and included in Other assets. These cost method investments were as follows at December 31 (in
millions):
2010
20102010
2010
2009
20092009
2009
Automotive sector ................................................................................................................................
.......................
$ 92 $ 96
Financial Services sector ................................................................................................
................................
5 5
Total Company ................................................................................................................................
.........................
$ 97 $ 101