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Notes to the Financial Statements
102 Ford Motor Company | 2010 Annual Report
NOTE 7. FINANCE RECEIVABLES (Continued)
Contractual maturities of total finance receivables outstanding at December 31, 2010 reflect contractual repayments
due from the borrower reported in the maturity category in which the payment is due and are as follows (in millions):
Due in Year Ending December 31,
Due in Year Ending December 31,Due in Year Ending December 31,
Due in Year Ending December 31,
2011
20112011
2011
2012
20122012
2012
2013
20132013
2013
Thereafter
ThereafterThereafter
Thereafter
Total
TotalTotal
Total
North America
North AmericaNorth America
North America
Consumer:
Consumer:Consumer:
Consumer:
Retail, gross................................................................................................
....................
$ 13,051 $ 10,622 $ 7,434 $ 8,022 $ 39,129
Direct financing leases, gross ................................................................
.........................
16 1 — — 17
Non
NonNon
Non-
---consumer:
consumer:consumer:
consumer:
Wholesale ................................................................................................
.......................
12,999 274 — — 13,273
Dealer loans................................................................................................
....................
358 128 189 442 1,117
Other................................................................................................
...............................
724 4 4 6 738
Total North America ................................................................
................................
$ 27,148 $ 11,029 $ 7,627 $ 8,470 $ 54,274
International
InternationalInternational
International
Consumer:
Consumer:Consumer:
Consumer:
Retail, gross................................................................................................
....................
$ 4,340 $ 2,708 $ 1,773 $ 615 $ 9,436
Direct financing leases, gross ................................................................
.........................
1,648 516 475 372 3,011
Non
NonNon
Non-
---consumer:
consumer:consumer:
consumer:
Wholesale ................................................................................................
.......................
7,708 1,066 75 2 8,851
Dealer loans................................................................................................
....................
9 12 — 12 33
Other................................................................................................
...............................
390 — — — 390
Total International ................................................................
................................
$ 14,095 $ 4,302 $ 2,323 $ 1,001 $ 21,721
Experience indicates that a portion of the portfolio is repaid before the contractual maturity dates.
Investments in direct financing leases, which are included in consumer receivables, were as follows at December 31
(in millions):
2010
20102010
2010
2009
20092009
2009
North
North North
North
America
AmericaAmerica
America
International
InternationalInternational
International
T
TTTotal Direct
otal Direct otal Direct
otal Direct
Financing
Financing Financing
Financing
Leases
LeasesLeases
Leases
North
North North
North
America
AmericaAmerica
America
International
InternationalInternational
International
Total Direct
Total Direct Total Direct
Total Direct
Financing
Financing Financing
Financing
Leases
LeasesLeases
Leases
Total minimum lease rentals to be received
................................
$ 8 $ 1,980 $ 1,988 $ 40 $ 2,469 $ 2,509
Initial direct costs ................................
................................
— 19 19 — 23 23
Estimated residual values ................................
................................
10 1,256 1,266 43 1,738 1,781
Less: Unearned income ................................
................................
(1) (244) (245) (4) (347) (351)
Less: Unearned interest supplements
................................
— (84) (84) — (83) (83)
Recorded investment in direct financing leases
................................
17 2,927 2,944 79 3,800 3,879
Less: Allowance for credit losses ................................
................................
(1) (17) (18) (3) (27) (30)
Net investment in direct financing leases
................................
$ 16 $ 2,910 $ 2,926 $ 76 $ 3,773 $ 3,849
At December 31, 2010, future minimum rentals from North America direct financing leases were as follows (in
millions): 2011 - $7; 2012 - $1; thereafter - $0.
At December 31, 2010, future minimum rentals from International direct financing leases were as follows (in millions):
2011 - $812; 2012 - $520; 2013 - $445; thereafter - $203.