Ford 2012 Annual Report Download - page 91

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Ford Motor Company | 2012 Annual Report 89
FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
89
NOTE 7. FINANCE RECEIVABLES (Continued)
Contractual maturities of total finance receivables, excluding unearned interest supplements, outstanding at
December 31, 2012 reflect contractual repayments due from customers or borrowers as follows (in millions):
Due in Year Ending December 31,
2013 2014 2015 Thereafter Total
North America
Consumer
Retail financing, gross $ 11,599 $9,992 $8,096 $9,817 $ 39,504
Non-Consumer
Dealer financing 17,966 546 72 845 19,429
Other 685 2 1 1 689
Total North America $ 30,250 $10,540 $8,169 $10,663 $ 59,622
International
Consumer
Retail financing, gross $ 4,381 $3,096 $1,826 $1,157 $ 10,460
Non-Consumer
Dealer financing 6,464 717 58 37,242
Other 386 ———386
Total International $ 11,231 $3,813 $1,884 $1,160 $ 18,088
Our finance receivables are pre-payable without penalty, so prepayments may cause actual maturities to differ
from contractual maturities. The above table, therefore, is not to be regarded as a forecast of future cash collections.
For wholesale receivables, which are included in dealer financing, maturities stated above are estimated based on
historical trends, as maturities on outstanding amounts are scheduled upon the sale of the underlying vehicle by the
dealer.
Investment in direct financing leases, which are included in consumer receivables, were as follows (in millions):
December 31, 2012 December 31, 2011
North
America International
Total Direct
Financing
Leases
North
America International
Total Direct
Financing
Leases
Total minimum lease rentals to be received $ 58 $1,466 $1,524 $ 4 $ 1,897 $ 1,901
Initial direct costs 1 16 17 — 18 18
Estimated residual values — 851 851 1971 972
Less: Unearned income (7)(152)(159) (1) (203) (204)
Less: Unearned interest supplements — (82)(82) — (116) (116)
Recorded investment in direct financing
leases 52 2,099 2,151 42,567 2,571
Less: Allowance for credit losses (1) (8) (9) — (12)(12)
Net investment in direct financing
leases $ 51 $2,091 $2,142 $ 4 $ 2,555 $ 2,559
Future minimum rental payments due from direct financing leases at December 31, 2012 were as follows (in
millions):
2013 2014 2015 2016 Thereafter
North America $ 21 $ 12 $ 13 $ 9$3
International 571 430 317 136 12
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