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Notes to the Financial Statements
Ford Motor Company | 2010 Annual Report 93
NOTE 4. FAIR VALUE MEASUREMENTS (Continued)
December 31, 2009
December 31, 2009December 31, 2009
December 31, 2009
Level 1
Level 1Level 1
Level 1
Level 2
Level 2Level 2
Level 2
Level 3
Level 3Level 3
Level 3
Total
TotalTotal
Total
Financial Services Sector
Financial Services SectorFinancial Services Sector
Financial Services Sector
Assets
AssetsAssets
Assets
Cash equivalents – financial instruments (a)
U.S. government ................................................................
................................
$ 75 $ — $ — $ 75
U.S. government-sponsored enterprises................................
................................
— 400 — 400
Government - non-U.S.................................
................................
— 29 — 29
Foreign government agencies/Corporate debt (b).
................................
— 75 — 75
Total cash equivalents – financial instruments 75 504 — 579
Marketable securities
U.S. government ................................................................
................................
5,256 — — 5,256
U.S. government-sponsored enterprises................................
................................
— 1,098 — 1,098
Foreign government agencies/Corporate debt (b)
................................
— 159 4 163
Mortgage-backed................................................................
................................
— 237 — 237
Government – non-U.S.................................
................................
— 65 — 65
Other liquid investments (c) ................................
................................
— 45 — 45
Total marketable securities ................................
................................
5,256 1,604 4 6,864
Derivative financial instruments
Interest rate contracts ................................
................................
— 1,234 420 1,654
Foreign exchange contracts................................
................................
— 22 — 22
Cross currency interest rate swap contracts
................................
— 203 — 203
Total derivative financial instruments ................................
................................
— 1,459 420 1,879
Retained interest in securitized assets (d)................................
................................
— — 26 26
Total assets at fair value ................................
................................
$ 5,331 $ 3,567 $ 450 $ 9,348
Liabilities
LiabilitiesLiabilities
Liabilities
Derivative financial instruments (e)
Interest rate contracts ................................
................................
$ — $ 409 $ 437 $ 846
Foreign exchange contracts................................
................................
— 46 — 46
Cross-currency interest rate swap contracts
................................
— 144 138 282
Total derivative financial instruments ................................
................................
— 599 575 1,174
Total liabilities at fair value................................
................................
$ — $ 599 $ 575 $ 1,174
(a) "Cash equivalents – financial instruments" in this table excludes time deposits, certificates of deposit, money market accounts, and other cash
equivalents reported at par value on our balance sheet totaling $7.7 billion as of December 31, 2009 for the Financial Services sector, which
approximates fair value. In addition to these cash equivalents, we also had cash on hand totaling $2.8 billion as of December 31, 2009.
(b) Includes notes issued by foreign government agencies that include implicit and explicit guarantees, as well as notes issued by supranational
institutions.
(c) Other liquid investments include certificates of deposit and time deposits with a maturity of more than 90 days at date of purchase.
(d) Retained interest in securitized assets is reported in
Other assets
on our consolidated balance sheet.
(e) See Note 26 for additional information regarding derivative financial instruments.