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Notes to the Financial Statements
140 Ford Motor Company | 2011 Annual Report
NOTE 17. RETIREMENT BENEFITS (Continued)
The following table summarizes the changes in Level 3 pension benefits plan assets measured at fair value on a
recurring basis for the year ended December 31, 2011 (in millions):
U.S. Plans
Asset Category
Equity
U.S. companies
International companies
Commingled funds
Derivative financial
instruments
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
Derivative financial
instruments
Interest rate contracts
Credit contracts
Other contracts
Total fixed income
Alternatives
Hedge funds
Private equity
Real estate
Total alternatives
Other
Total Level 3 fair value
2011
Fair
Value
at
January 1,
2011
$13
6
3
—
22
—
14
280
28
2
50
125
(2)
—
—
497
2,854
1,491
120
4,465
(3)
$ 4,981
Return on plan assets
Attributable
to Assets
Held
at
December 31,
2011
$(1)
—
—
—
(1)
—
—
(2)
4
(1)
(1)
(3)
—
—
25
22
10
244
39
293
—
$ 314
Attributable
to
Assets
Sold
$—
(1)
—
—
(1)
—
—
(3)
2
—
—
1
(1)
—
(8)
(9)
(22)
—
—
(22)
—
$(32)
Net
Purchases/
(Settlements)
$—
(1)
—
—
(1)
—
(5)
(86)
18
8
(32)
(38)
—
—
(8)
(143)
126
350
203
679
1
$536
Transfers
Into
Level 3
$—
—
—
—
—
—
—
13
3
3
—
4
—
—
—
23
—
—
—
—
—
$23
Out of
Level 3
$—
(1)
—
—
(1)
—
(1)
(33)
(22)
(1)
—
(35)
—
—
—
(92)
—
—
—
—
—
$(93)
Fair
Value
at
December 31,
2011
$12
3
3
—
18
—
8
169
33
11
17
54
(3)
—
9
298
2,968
2,085
362
5,415
(2)
$ 5,729