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