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116 Ford Motor Company | 2012 Annual Report
FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
NOTE 16. RETIREMENT BENEFITS (Continued)
The following table summarizes the changes in Level 3 pension benefits plan assets measured at fair value on a
recurring basis for the year ended December 31, 2012 (in millions):
U.S. Plans 2012
Return on plan assets Transfers
Fair
Value
at
January 1,
2012
Attributable
to Assets
Held
at
December 31,
2012
Attributable
to
Assets
Sold
Net
Purchases/
(Settlements)
Into
Level 3
Out of
Level 3
Fair
Value
at
December 31,
2012
Asset Category
Equity
U.S. companies $ 15 $ — $ — $ — $ — $ — $ 15
International companies 3 — 3 (3) 1(1) 3
Derivative financial
instruments — — — — — — —
Total equity 18 — 3 (3) 1(1) 18
Fixed Income
U.S. government — — — — — — —
U.S. government-sponsored
enterprises 8 — — (5) — — 3
Non-U.S. government 169 2 5 (137)5 (12) 32
Corporate bonds
Investment grade 33 5 (4) 14 42 (10) 80
High yield 11 1 1 4 1(4) 14
Other credit 17 5 — 28 — — 50
Mortgage/other asset-backed 54 1 3 43 21 (7) 115
Derivative financial
instruments
Interest rate contracts (3) — 5 (2) — — —
Credit contracts — — — — — — —
Other contracts 9 (3)(14) 12 — (4) —
Total fixed income 298 11 (4) (43) 69 (37)294
Alternatives
Hedge funds 2,968 189 (6) (30) — — 3,121
Private equity 2,085 201 — 126 — — 2,412
Real estate 362 31 1 63 — — 457
Total alternatives 5,415 421 (5) 159 — — 5,990
Other (2) 2 — 67 — (10) 57
Total Level 3 fair value $ 5,729 $ 434 $ (6) $ 180 $ 70 $ (48) $ 6,359