Annual Report 2011 - Ford Motor Company
Annual Report 2011 - Ford Motor Company
Annual Report 2011 - Ford Motor Company
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Notes to the Financial Statements<br />
NOTE 4. FAIR VALUE MEASUREMENTS (Continued)<br />
2010<br />
Level 1 (a) Level 2 (a) Level 3<br />
Total<br />
Automotive Sector<br />
Assets<br />
Cash equivalents – financial instruments (b)<br />
U.S. government<br />
$ — $ — $ — $ —<br />
U.S. government-sponsored enterprises<br />
—<br />
224<br />
—<br />
224<br />
Non-U.S. government<br />
—<br />
133<br />
—<br />
133<br />
Non-U.S. government agencies (c)<br />
—<br />
1,619<br />
—<br />
1,619<br />
Corporate debt<br />
—<br />
199<br />
—<br />
199<br />
Total cash equivalents – financial instruments<br />
Marketable securities (d)<br />
—<br />
2,175<br />
—<br />
2,175<br />
U.S. government<br />
2,718<br />
—<br />
—<br />
2,718<br />
U.S. government-sponsored enterprises<br />
—<br />
4,809<br />
—<br />
4,809<br />
Non-U.S. government agencies (c)<br />
—<br />
3,215<br />
1<br />
3,216<br />
Corporate debt<br />
—<br />
517<br />
—<br />
517<br />
Mortgage-backed and other asset-backed<br />
—<br />
20<br />
—<br />
20<br />
Equities<br />
203<br />
—<br />
—<br />
203<br />
Non-U.S. government<br />
—<br />
818<br />
1<br />
819<br />
Other liquid investments (e)<br />
—<br />
1,704<br />
—<br />
1,704<br />
Total marketable securities<br />
Derivative financial instruments<br />
2,921<br />
11,083<br />
2<br />
14,006<br />
Foreign exchange contracts<br />
—<br />
58<br />
—<br />
58<br />
Commodity contracts<br />
—<br />
36<br />
33<br />
69<br />
Other – warrants<br />
—<br />
—<br />
5<br />
5<br />
Total derivative financial instruments (f)<br />
—<br />
94<br />
38<br />
132<br />
Total assets at fair value<br />
Liabilities<br />
Derivative financial instruments<br />
$ 2,921 $ 13,352 $ 40 $ 16,313<br />
Foreign exchange contracts<br />
$ — $ 93 $ — $ 93<br />
Commodity contracts<br />
—<br />
6<br />
—<br />
6<br />
Total derivative financial instruments (f)<br />
—<br />
99<br />
—<br />
99<br />
Total liabilities at fair value<br />
__________<br />
(a) There were no transfers between Level 1 and 2 during the year.<br />
$ — $ 99 $ — $ 99<br />
(b) "Cash equivalents - financial instruments" in this table excludes time deposits, certificates of deposit, money market accounts, and other cash<br />
equivalents reported at par value totaling $2.2 billion as of December 31, 2010 for the Automotive sector. In addition to these cash equivalents, our<br />
Automotive sector also had cash on hand totaling $1.9 billion as of December 31, 2010.<br />
(c) Includes notes issued by Non-U.S. government agencies, as well as notes issued by supranational institutions.<br />
(d) Excludes an investment in <strong>Ford</strong> Credit debt securities held by the Automotive sector with a carrying value of $201 million and an estimated fair<br />
value of $203 million as of December 31, 2010; see Note 18 for additional detail.<br />
(e) "Other liquid investments" in this table includes certificates of deposit and time deposits subject to changes in value.<br />
(f) See Note 25 for additional information regarding derivative financial instruments.<br />
<strong>Ford</strong> <strong>Motor</strong> <strong>Company</strong> | <strong>2011</strong> <strong>Annual</strong> <strong>Report</strong> 103
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