Ford 2010 Annual Report Download - page 125

Download and view the complete annual report

Please find page 125 of the 2010 Ford annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 184

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184

Notes to the Financial Statements
Ford Motor Company | 2010 Annual Report 123
NOTE 18. RETIREMENT BENEFITS (Continued)
We independently validated several of our assumptions by obtaining non-binding quotes regarding volatility,
prepayment features, and yields from several financial institutions and from published analysts' reports regarding the
market outlook for Ford.
See Note 19 for discussion of our prepayment in full of our obligation pursuant to the UAW VEBA Trust.
Benefit Plans – Expense and Status
The measurement date for all of our worldwide postretirement benefit plans is December 31. The expense for our
defined benefit pension and OPEB plans was as follows (in millions):
Pension Benefits*
Pension Benefits*Pension Benefits*
Pension Benefits*
U.S. Plans
U.S. PlansU.S. Plans
U.S. Plans
Non
NonNon
Non-
---U.S. Plans
U.S. PlansU.S. Plans
U.S. Plans
Worldwide OPEB
Worldwide OPEBWorldwide OPEB
Worldwide OPEB
20
2020
2010
1010
10
200
200200
2009
999
200
200200
2008
888
20
2020
2010
1010
10
2009
20092009
2009
2
222008
008008
008
20
2020
2010
1010
10
2009
20092009
2009
2008
20082008
2008
Service cost ................................
.........................
$ 376 $ 343 $ 378 $ 314 $ 293 $ 403 $ 54 $ 408 $ 326
Interest cost ................................
.........................
2,530 2,698 2,687 1,249 1,253 1,519 338 899 1,456
Expected return on assets
................................
(3,172) (3,288) (3,462) (1,337) (1,309) (1,693) — (130) (265)
Amortization of:
Prior service cost/(credit)
................................
370 374 374 75 83 99 (617) (913) (900)
(Gains)/Losses and Other
................................
12 8 19 246 158 208 96 82 267
Separation programs
................................
6 12 334 26 176 138 1 2 13
(Gain)/Loss from curtailment and
settlements ................................
........................
— — — — 47 — (30) 244 (2,714)
Net expense ................................
......................
$ 122 $ 147 $ 330 $ 573 $ 701 $ 674 $ (158) $ 592 $ (1,817)
_______
* Includes Jaguar Land Rover for 2008, and Volvo for 2008 – 2010.