Ford 2011 Annual Report Download - page 145
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Notes to the Financial Statements
Ford Motor Company | 2011 Annual Report 143
NOTE 17. RETIREMENT BENEFITS (Continued)
Non-U.S. Plans
Asset Category
Equity
U.S. companies
International companies
Commingled funds
Total equity
Fixed Income
U.S. government
U.S. government-sponsored
enterprises
Non-U.S. government
Corporate bonds
Investment grade
High yield
Other credit
Mortgage/other asset-backed
Commingled funds
Derivative financial
instruments
Total fixed income
Alternatives
Hedge funds
Private equity
Real estate
Total alternatives
Other (a)
Total Level 3 fair value
2010
Fair
Value
at
January 1,
2010
$—
21
—
21
—
—
77
28
19
7
43
—
2
176
244
4
—
248
3,989
$ 4,434
Return on plan assets
Attributable
to Assets
Held
at
December 31,
2010
$—
—
—
—
—
—
9
—
1
—
2
—
—
12
23
—
2
25
391
$ 428
Attributable
to
Assets
Sold
$—
1
—
1
—
—
2
(2)
(2)
—
—
1
—
(1)
—
—
—
—
—
$—
Net
Purchases/
(Settlements)
$—
(9)
—
(9)
—
—
(3)
2
4
(7)
—
7
(2)
1
444
27
9
480
—
$472
Transfers
Into
Level 3
$—
6
—
6
—
—
26
5
—
—
2
—
—
33
—
—
—
—
—
$39
Out of
Level 3
$—
(9)
—
(9)
—
—
(8)
(18)
(2)
—
(13)
—
—
(41)
—
—
—
—
—
$(50)
Fair
Value
at
December 31,
2010
$—
10
—
10
—
—
103
15
20
—
34
8
—
180
711
31
11
753
4,380
$ 5,323
_______
(a) Primarily Ford-Werke plan assets (insurance contract valued at $3,371 million).
NOTE 18. DEBT AND COMMITMENTS
Our debt consists of short-term and long-term unsecured debt securities, convertible debt securities, and unsecured
and secured borrowings from banks and other lenders. Debt issuances are placed directly by us or through securities
dealers or underwriters and are held by institutional and retail investors. In addition, Ford Credit sponsors securitization
programs that provide short-term and long-term asset-backed financing through institutional investors in the U.S. and
international capital markets.
Debt is recorded on our balance sheet at par value adjusted for unamortized discount or premium and adjustments
related to designated fair value hedges (see Note 25 for policy detail). Discounts, premiums, and costs directly related to
the issuance of debt generally are capitalized and amortized over the life of the debt and are recorded in Interest expense
using the interest method. Gains and losses on the extinguishment of debt are recorded in Automotive interest income
and other non-operating income/(expense), net and Financial Services other income/(loss), net.
Amounts borrowed and repaid are reported in our Statement of Cash Flows as Net cash (used in)/provided by
financing activities. Interest, fees and deferred charges paid in excess of the amount borrowed are reported as Net cash
(used in)/provided by operating activities.