Ford 2010 Annual Report Download - page 113
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Notes to the Financial Statements
Ford Motor Company | 2010 Annual Report 111
NOTE 9. ALLOWANCE FOR CREDIT LOSSES (Continued)
Following is an analysis of the allowance for credit losses related to finance receivables and investment in operating
leases for the year ended December 31, 2010 (in millions):
Finance Receivables
Finance ReceivablesFinance Receivables
Finance Receivables
Net Investment in
Net Investment inNet Investment in
Net Investment in
Consumer
ConsumerConsumer
Consumer
Non
NonNon
Non-
---consumer
consumer consumer
consumer
Total
TotalTotal
Total
Operating
Operating Operating
Operating
Leases
LeasesLeases
Leases
Total Allowance
Total AllowanceTotal Allowance
Total Allowance
Financial Services Sector
Financial Services SectorFinancial Services Sector
Financial Services Sector
Allowance for credit losses:
Beginning balance $ 1,271 $ 80 $ 1,351 $ 214 $ 1,565
Charge-offs................................
................................
(606) (41) (647) (200) (847)
Recoveries................................
................................
247 34 281 138 419
Provision for credit losses
................................
(195) (2) (197) (65) (262)
Other (a) ................................
................................
(10) (1) (11) — (11)
Ending balance ................................
................................
$ 707 $ 70 $ 777 $ 87 $ 864
Analysis of ending balance of allowance for
credit losses:
Collective impairment allowance
................................
$ 707 $ 58 $ 765 $ 87 $ 852
Specific impairment allowance
................................
— 12 12 — 12
Ending balance ................................
................................
$ 707 $ 70 $ 777 $ 87 $ 864
Analysis of ending balance of finance
receivables and net investment in
operating leases:
Collectively evaluated for impairment
................................
$ 49,640 $ 24,300 $ 73,940 $ 10,480
Specifically evaluated for impairment
................................
— 102 102 —
Recorded investment (b)................................
................................
$ 49,640 $ 24,402 $ 74,042 $ 10,480
Ending balance, net of allowance for credit
losses ................................
................................
$ 48,933 $ 24,332 $ 73,265 $ 10,393
(a) Represents principally amounts related to translation adjustments.
(b) Finance receivables and net investment in operating leases before allowance for credit losses.