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Notes to the Financial Statements
Ford Motor Company | 2010 Annual Report 95
NOTE 4. FAIR VALUE MEASUREMENTS (Continued)
200
200200
2008
888
Fair Value at
Fair Value at Fair Value at
Fair Value at
January 1,
January 1, January 1,
January 1,
2008
20082008
2008
Total
Total Total
Total
Realized/
Realized/ Realized/
Realized/
Unrealized
Unrealized Unrealized
Unrealized
Gains/
Gains/ Gains/
Gains/
(Losses)
(Losses)(Losses)
(Losses)
Net
Net Net
Net
Purch
PurchPurch
Purchases/
ases/ ases/
ases/
(Settlements)
(Settlements) (Settlements)
(Settlements)
(a)
(a) (a)
(a)
Net
Net Net
Net
Transfers
Transfers Transfers
Transfers
Into/(Out of)
Into/(Out of)Into/(Out of)
Into/(Out of)
Level 3 (b)
Level 3 (b) Level 3 (b)
Level 3 (b)
Fair Value at
Fair Value at Fair Value at
Fair Value at
December 31,
December 31,December 31,
December 31,
2008
20082008
2008
Change In
Change In Change In
Change In
Unrealized
Unrealized Unrealized
Unrealized
Gains/
Gains/ Gains/
Gains/
(Losses) on
(Losses) on (Losses) on
(Losses) on
Instruments
Instruments Instruments
Instruments
Still Held
Still Held Still Held
Still Held
Automotive Sector
Automotive SectorAutomotive Sector
Automotive Sector
Marketable securities
Foreign government agencies/
Corporate debt ................................
................................
$ 119 $ (1) $ (24) $ (68) $ 26 $ (4)
Mortgage-backed and other asset-
backed................................
................................
82 (26) 47 20 123 (20)
Government – non-U.S. — (1) 1 — — —
Equity................................
................................
— — — 1 1 —
Total marketable securities
................................
201 (28) 24 (47) 150 (24)
Derivative financial instruments, net
................................
257 (124) (83) (82) (32) (63)
Total Level 3 fair value
................................
$ 458 $ (152) $ (59) $ (129) $ 118 $ (87)
Financial Services Sector
Financial Services SectorFinancial Services Sector
Financial Services Sector
Marketable securities - Foreign
government agencies/ Corporate debt
................................
$ — $ — $ 5 $ — $ 5 $ —
Derivative financial instruments, net
................................
(2) 8 (5) (75) (74) (41)
Retained interest in securitized assets
................................
653 49 (610) — 92 (58)
Total Level 3 fair value
................................
$ 651 $ 57 $ (610) $ (75) $ 23 $ (99)
(a) Includes option premiums (paid)/received on options traded during the period.
(b) "Transfers Into" represent the value at the end of the reporting period and "Transfers Out of" represent the value at the beginning of the
reporting period.
The following tables summarize the realized/unrealized gains/(losses) on Level 3 items by financial statement position
for the years ended December 31 (in millions):
2010
20102010
2010
Automotive
Automotive Automotive
Automotive
Cost of
Cost of Cost of
Cost of
Sales
SalesSales
Sales
Automotive
Automotive Automotive
Automotive
Interest
Interest Interest
Interest
Income and
Income and Income and
Income and
Other Non
Other NonOther Non
Other Non-
---
Operating
Operating Operating
Operating
Income/
Income/Income/
Income/
(Loss), Net
(Loss), Net(Loss), Net
(Loss), Net
Financia
FinanciaFinancia
Financial
l l
l
Services
Services Services
Services
Other
Other Other
Other
Income/
Income/Income/
Income/
(Loss), Net
(Loss), Net(Loss), Net
(Loss), Net
Financial
Financial Financial
Financial
Services
Services Services
Services
Interest
Interest Interest
Interest
Expense
ExpenseExpense
Expense
Other
Other Other
Other
Comprehensive
Comprehensive Comprehensive
Comprehensive
Income/
Income/Income/
Income/
(Loss) (a)
(Loss) (a)(Loss) (a)
(Loss) (a)
Total
TotalTotal
Total
Realized/
Realized/Realized/
Realized/
Unrealized
Unrealized Unrealized
Unrealized
Gains/
Gains/Gains/
Gains/
(Losses)
(Losses)(Losses)
(Losses)
Automotive Sector
Automotive SectorAutomotive Sector
Automotive Sector
Marketable securities ................................
................................
$ —
$ (1) $ — $ — $ — $ (1)
Derivative financial instruments, net (b)
................................
39
2 — — — 41
Total Automotive sector................................
................................
$ 39
$ 1 $ — $ — $ — $ 40
Financial Services Sector
Financial Services SectorFinancial Services Sector
Financial Services Sector
Marketable securities ................................
................................
$ —
$ — $ (4) $ — $ — $ (4)
Derivative financial instruments, net (b)
................................
—
— (91) — (6) (97)
Retained interest in securitized assets
................................
—
— (3) — 2 (1)
Total Financial Services sector
................................
$ —
$ — $ (98) $ — $ (4) $ (102)
(a) "Other Comprehensive Income/(Loss)" represents foreign currency translation on derivative asset and liability balances held by non-U.S. dollar
foreign affiliates.
(b) See Note 26 for detail on financial statement presentation by hedge designation.