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Notes to the Financial Statements
Ford Motor Company | 2010 Annual Report 101
NOTE 7. FINANCE RECEIVABLES (Continued)
Finance receivables, net at December 31, were as follows (in millions):
2010
20102010
2010
2009
20092009
2009
North
North North
North
America
AmericaAmerica
America
International
InternationalInternational
International
Total Finance
Total Finance Total Finance
Total Finance
Receivables
ReceivablesReceivables
Receivables
North
North North
North
America
AmericaAmerica
America
International
InternationalInternational
International
Total Finance
Total Finance Total Finance
Total Finance
Receivables
ReceivablesReceivables
Receivables
Consumer:
Consumer:Consumer:
Consumer:
Retail, gross................................
................................
$ 39,129 $ 9,436 $ 48,565 $ 42,252 $ 12,015 $ 54,267
Less: Unearned interest supplements
................................
(1,580)
(289) (1,869) (1,510)
(401) (1,911)
Retail................................................................ 37,549 9,147 46,696 40,742 11,614 52,356
Direct financing leases, gross
................................
17 3,011 3,028 79 3,883 3,962
Less: Unearned interest supplements
................................
— (84) (84) — (83) (83)
Direct financing leases................................
................................
17 2,927 2,944 79 3,800 3,879
Consumer finance receivables
................................
$ 37,566 $ 12,074 $ 49,640 $ 40,821 $ 15,414 $ 56,235
Non
NonNon
Non-
---consumer:
consumer:consumer:
consumer:
Wholesale ................................
................................
$ 13,273 $ 8,851 $ 22,124 $ 13,347 $ 9,023 $ 22,370
Dealer loans................................
................................
1,117 33 1,150 1,310 42 1,352
Other................................................................
................................
738 390 1,128 656 443 1,099
Non-consumer finance receivables
................................
15,128 9,274 24,402 15,313 9,508 $ 24,821
Total recorded investment
................................
$ 52,694 $ 21,348 $ 74,042 $ 56,134 $ 24,922 $ 81,056
Recorded investment in finance receivables
................................
$ 52,694 $ 21,348 $ 74,042 $ 56,134 $ 24,922 $ 81,056
Less: Allowance for credit losses
................................
(625)
(152) (777) (1,123)
(228) (1,351)
Finance receivables, net ................................
................................
$ 52,069 $ 21,196 $ 73,265 $ 55,011 $ 24,694 $ 79,705
Net finance receivables subject to fair value *
................................
$ 70,318 $ 75,812
Fair value................................
................................
72,021 77,028
Finance receivables, net – sector balance
sheet................................................................
................................
$ 73,265 $ 79,705
Reclassification of notes receivable, net
from Automotive sector
Other receivables,
net
and
Other assets
................................
................................
224 76
Reclassification of receivables purchased
from Automotive sector to
Other
receivables, net
................................
................................
(3,419) (3,889)
Finance receivables, net – consolidated
balance sheet ................................
................................
$ 70,070 $ 75,892
__________
* At December 31, 2010 and 2009, excludes $2.9 billion and $3.9 billion, respectively, of certain receivables (primarily direct financing leases) that are
not subject to fair value disclosure requirements.
Included in the recorded investment in finance receivables at December 31, 2010 and 2009 were $28.7 billion and
$35 billion of North America consumer receivables, $12.8 billion and $12.6 billion of non-consumer receivables,
International consumer receivables of $7.6 billion and $9.9 billion and non-consumer receivables of $5.9 billion and
$6.9 billion, respectively, that secure certain debt obligations. The cash flows generated from collection of these
receivables can be used only for payment of the related debt and obligations; they are not available to pay the other
obligations of our Financial Services sector or the claims of its other creditors (see Notes 13 and 19).