Ford 2010 Annual Report Download - page 133

Download and view the complete annual report

Please find page 133 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 131
NOTE 18. RETIREMENT BENEFITS (Continued)
The fair value of our pension benefits plan assets (including dividends and interest receivables of $267 million and
$75 million for U.S. and non-U.S. plans, respectively) at December 31, 2009 by asset category is as follows (in millions):
U
UUU.S. Plans
.S. Plans.S. Plans
.S. Plans
2009
20092009
2009
Level 1
Level 1Level 1
Level 1
Level 2
Level 2Level 2
Level 2
Level 3
Level 3Level 3
Level 3
Total
TotalTotal
Total
A
AAAsset Category
sset Categorysset Category
sset Category
Equity
EquityEquity
Equity
U.S. companies ................................................................
................................
$ 8,675 $ 26 $ 15 $ 8,716
International companies................................
................................
8,413 48 92 8,553
Commingled funds................................................................
................................
— 386 3 389
Derivative financial instruments (a) ................................
................................
(1) — — (1)
Total equity ................................................................
................................
17,087 460 110 17,657
Fixed Income
Fixed IncomeFixed Income
Fixed Income
U.S. government................................................................
................................
2,340 — — 2,340
Government-sponsored enterprises (b) ................................
................................
— 1,310 7 1,317
Government – non-U.S. ................................
................................
— 449 256 705
Corporate bonds (c)
Investment grade................................................................
................................
— 8,403 85 8,488
High yield................................................................
................................
— 1,152 15 1,167
Other credit................................................................
................................
— 33 21 54
Mortgage-backed and other asset-backed................................
................................
— 1,488 278 1,766
Commingled funds................................................................
................................
— 338 — 338
Derivative financial instruments (a) ................................
................................
(8) (149) (42) (199)
Total fixed income................................................................
................................
2,332 13,024 620 15,976
Alternative
AlternativeAlternative
Alternatives
sss
Private equity (d)................................................................
................................
— — 1,005 1,005
Hedge funds (e) ................................................................
................................
— — 1,986 1,986
Real estate (f) ................................................................
................................
— — 1 1
Total alternatives................................................................
................................
— — 2,992 2,992
Cash and cash equivalents (g)................................
................................
7 1,864 — 1,871
Other (h) ................................................................
................................
(62) 26 (3) (39)
Total assets at fair value................................
................................
$ 19,364 $ 15,374 $ 3,719 $ 38,457
_______
(a) Net derivative position. Gross equity derivative position includes assets of $0.4 million offset by liabilities of $1 million. Gross fixed income
derivative position includes assets of $40 million offset by liabilities of $239 million.
(b) Debt securities primarily issued by government-sponsored enterprises ("GSEs").
(c) "Investment grade" bonds are those rated Baa3/BBB or higher by at least two rating agencies; "High yield" bonds are those rated below
investment grade; "Other credit" refers to non-rated bonds.
(d) Diversified investments in private equity funds with the following strategies: buyout (59%), venture capital (25%), mezzanine/distressed (9%),
and other (7%). Allocations are estimated based on latest available data for managers reflecting June 30, 2009 holdings.
(e) Funds investing in diverse hedge fund strategies with the following composition of underlying hedge fund investments within the U.S. pension
plans at December 31, 2009: global macro (39%), equity long/short (25%), event-driven (16%), relative value (12%), multi-strategy (7%) and
cash (1%).
(f) Investment in private property funds broadly classified as core, value-added and opportunistic.
(g) Primarily short-term investment funds to provide liquidity to plan investment managers and cash held to pay benefits.
(h) Primarily cash related to net pending trade purchases/sales and net pending foreign exchange purchases/sales.