Ford 2013 Annual Report Download - page 103
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Ford Motor Company | 2013 Annual Report 101
FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
NOTE 12. NET PROPERTY AND LEASE COMMITMENTS (Continued)
The liability for our conditional asset retirement obligations which are recorded in Other liabilities and deferred
revenue was as follows (in millions):
December 31,
2013
December 31,
2012
Beginning balance $ 267 $266
Liabilities settled (5) (8)
Revisions to estimates (16)9
Ending balance $ 246 $267
Lease Commitments
We lease land, buildings, and equipment under agreements that expire over various contractual periods. Minimum
non-cancellable operating lease commitments at December 31, 2013 were as follows (in millions):
2014 2015 2016 2017 2018 Thereafter Total
Automotive sector $ 199 $ 168 $128 $ 95 $ 58 $ 134 $782
Financial Services sector 47 43 38 28 17 18 191
Total Company $ 246 $ 211 $166 $123 $ 75 $ 152 $973
Operating lease expense for the years ended December 31 was as follows (in millions):
2013 2012 2011
Automotive sector $ 411 $404 $416
Financial Services sector 105 106 124
Total Company $ 516 $510 $540
NOTE 13. OTHER LIABILITIES AND DEFERRED REVENUE
Other liabilities and deferred revenue were as follows (in millions):
December 31,
2013
December 31,
2012
Automotive Sector
Current
Dealer and dealers’ customer allowances and claims $ 7,730 $ 6,779
Deferred revenue 2,817 2,796
Employee benefit plans 1,706 1,504
Accrued interest 262 277
Other postretirement employee benefits (“OPEB”) 387 409
Pension 327 387
Other 3,308 3,206
Total Automotive other liabilities and deferred revenue 16,537 15,358
Non-current
Pension 9,288 18,400
OPEB 5,502 6,398
Dealer and dealers’ customer allowances and claims 2,028 2,036
Deferred revenue 2,534 2,044
Employee benefit plans 789 767
Other 1,524 904
Total Automotive other liabilities and deferred revenue 21,665 30,549
Total Automotive sector 38,202 45,907
Financial Services Sector 2,260 2,352
Total Company $40,462 $ 48,259
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