Ford 2009 Annual Report Download - page 108
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Notes to the Financial Statements
106 Ford Motor Company | 2009 Annual Report
NOTE 13. VARIABLE INTEREST ENTITIES (Continued)
Getrag All Wheel Drive AB is a 40/60 joint venture between Volvo Cars and Getrag Dana Holding GmbH. The joint
venture produces all-wheel-drive components. The assets and liabilities associated with this joint venture that were
classified during the first quarter of 2009 as held for sale are shown in the table below and are included in the assets and
liabilities of Volvo classified as held-for-sale operations in Note 24.
Pininfarina Sverige, AB is a 40/60 joint venture between Volvo Cars and Pininfarina, S.p.A. The joint venture was
established to engineer and manufacture niche vehicles. The assets and liabilities associated with this joint venture that
were classified as held for sale during the first quarter of 2009 are shown in the table below and are included in the assets
and liabilities of Volvo classified as held-for-sale operations in Note 24.
Tekfor Cologne GmbH ("Tekfor") is a 50/50 joint venture with Neumayer Tekfor GmbH. Tekfor produces transmission
and chassis components for use in our vehicles. During the fourth quarter of 2009, Ford initiated a revolving loan
agreement with Tekfor for $12.8 million. This loan is being used by Tekfor to refinance external debt.
We also hold interests in certain dealerships in North America. At December 31, 2009 there were approximately
13 dealerships consolidated as part of our Dealer Development program. We supply and finance the majority of vehicles
and parts for these dealerships, and the operators have a contract to buy our equity interest over a period of time. See
Note 4 for discussion of the impairment of our investment in these assets.
The total consolidated VIE assets and liabilities reflected on our December 31 balance sheet are as follows
(in millions):
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