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Notes to the Financial Statements
Ford Motor Company | 2010 Annual Report 135
NOTE 18. RETIREMENT BENEFITS (Continued)
The following table summarizes the changes in Level 3 pension benefits plan assets measured at fair value on a
recurring basis for the period ended December 31, 2009 (in millions):
U.S. Plans
U.S. PlansU.S. Plans
U.S. Plans
2009
20092009
2009
Return on plan assets:
Return on plan assets:Return on plan assets:
Return on plan assets:
Fair Value at
Fair Value at Fair Value at
Fair Value at
January 1,
January 1, January 1,
January 1,
2009
20092009
2009
Attributable to
Attributable to Attributable to
Attributable to
Assets Held at
Assets Held at Assets Held at
Assets Held at
December 31,
December 31, December 31,
December 31,
2009
20092009
2009
Attributable to
Attributable to Attributable to
Attributable to
Ass
AssAss
Assets Sold
ets Soldets Sold
ets Sold
Net
Net Net
Net
Purchases/
Purchases/Purchases/
Purchases/
(Settlements)
(Settlements)(Settlements)
(Settlements)
Net Transfers
Net Transfers Net Transfers
Net Transfers
Into/(Out of)
Into/(Out of) Into/(Out of)
Into/(Out of)
Level 3
Level 3Level 3
Level 3
Fair Value at
Fair Value at Fair Value at
Fair Value at
December 31,
December 31, December 31,
December 31,
2009
20092009
2009
A
AAAsset Category
sset Categorysset Category
sset Category
Equity
EquityEquity
Equity
U.S. companies
................................
$ 2 $ — $ — $ — $ 13 $ 15
International companies
................................
13 24 (5) 20 40 92
Commingled funds
................................
4 (2) — 1 — 3
Total equity ................................
................................
19 22 (5) 21 53 110
Fixed Income
Fixed IncomeFixed Income
Fixed Income
U.S. government
................................
19 — (2) (17) — —
Government-sponsored
enterprises................................
................................
12 — — (1) (4) 7
Government – non-U.S.
................................
254 20 5 (31) 8 256
Corporate bonds
Investment grade
................................
371 (4) 12 (133) (161) 85
High yield................................
................................
66 1 — (45) (7) 15
Other credit................................
................................
29 8 — (11) (5) 21
Mortgage-backed and other
asset-backed ................................
................................
723 16 63 (416) (108) 278
Derivative financial
instruments ................................
................................
(140) (5) 148 (45) — (42)
Total fixed income
................................
1,334 36 226 (699) (277) 620
Alternative
AlternativeAlternative
Alternatives
sss
Private equity ................................
................................
868 (84) — 221 — 1,005
Hedge funds ................................
................................
1,170 137 9 670 — 1,986
Real estate................................
................................
1 — — — — 1
Total alternatives
................................
2,039 53 9 891 — 2,992
Cash and cash equivalents
................................
3 — — — (3) —
Other................................
................................
— — (2) (1) — (3)
Total Level 3 fair value
................................
$ 3,395 $ 111 $ 228 $ 212 $ (227) $ 3,719