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Notes to the Financial Statements
138 Ford Motor Company | 2010 Annual Report
NOTE 19. DEBT AND COMMITMENTS (Continued)
The fair value of debt presented above reflects interest accrued but not yet paid. Interest accrued on Automotive
sector debt is reported in Automotive accrued liabilities and deferred revenue and was $275 million and $351 million at
December 31, 2010 and 2009, respectively. Interest accrued on Financial Services sector debt is reported in Financial
Services other liabilities and deferred income and was about $1 billion and $1.1 billion at December 31, 2010 and 2009,
respectively.
Maturities
Debt maturities at December 31, 2010 were as follows (in millions):
2011
20112011
2011
2012
20122012
2012
2013
20132013
2013
2014
20142014
2014
2015
20152015
2015
Thereafter
ThereafterThereafter
Thereafter
Total Debt
Total Debt Total Debt
Total Debt
Maturities
MaturitiesMaturities
Maturities
Automotive Sector
Automotive SectorAutomotive Sector
Automotive Sector
Public unsecured debt securities................................
................................
$ —
$ — $ —
$ — $ —
$ 5,260 $ 5,260
Unamortized discount (a) ................................
................................
—
— —
— —
(81) (81)
Convertible notes ................................
................................
—
— —
— —
908 908
Unamortized discount (a) ................................
................................
—
— —
— —
(199) (199)
Subordinated convertible debentures
................................
—
— —
— —
2,985 2,985
Secured term loan................................
................................
140
77 3,869
— —
— 4,086
Secured revolving loan................................
................................
838
— —
— —
— 838
U.S. DOE loans................................................................
................................
—
138 275
275 275
1,789 2,752
Short-term and other debt (b)................................
................................
1,071
192 297
32 734
202 2,528
Total Automotive debt ................................
................................
2,049
407 4,441
307 1,009
10,864 19,077
Financial Services Sector
Financial Services SectorFinancial Services Sector
Financial Services Sector
Unsecured debt................................
................................
14,850
7,136 5,391
3,548 5,250
5,065 41,240
Asset-backed debt ................................
................................
24,765
11,750 4,494
1,248 1,698
18 43,973
Unamortized discount (a) ................................
................................
2
(120)
(52
)
(159) (26
)
(48) (403)
Fair value adjustments (a) (c)................................
................................
35
87 80
39 61
— 302
Total Financial Services debt ................................
................................
39,652
18,853 9,913
4,676 6,983
5,035 85,112
Intersector elimination (d)................................
................................
—
(201)
—
— —
— (201)
Total Company................................
................................
$ 41,701
$ 19,059 $ 14,354
$ 4,983 $ 7,992
$ 15,899 $ 103,988
(a) Unamortized discount and fair value adjustments are presented based on contractual payment date of related debt.
(b)
Primarily non-U.S. affiliate debt.
(c) Adjustments related to designated fair value hedges of unsecured debt.
(d)
Debt related to Ford's acquisition of Ford Credit debt securities; see Note 1 for additional detail.