Ford 2012 Annual Report Download - page 120
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118 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, 2011 (in millions):
U.S. Plans 2011
Return on plan assets Transfers
Fair
Value
at
January 1,
2011
Attributable
to Assets
Held
at
December 31,
2011
Attributable
to
Assets
Sold
Net
Purchases/
(Settlements)
Into
Level 3
Out of
Level 3
Fair
Value
at
December 31,
2011
Asset Category
Equity
U.S. companies $ 16 $ (1) $ — $ — $ — $ — $ 15
International companies 6 — (1) (1) — (1) 3
Derivative financial
instruments — — — — — — —
Total equity 22 (1) (1) (1) — (1) 18
Fixed Income
U.S. government — — — — — — —
U.S. government-sponsored
enterprises 14 — — (5) — (1) 8
Non-U.S. government 280 (2) (3) (86) 13 (33)169
Corporate bonds
Investment grade 28 4 2 18 3 (22) 33
High yield 2 (1) — 8 3 (1) 11
Other credit 50 (1) — (32) — — 17
Mortgage/other asset-backed 125 (3) 1 (38) 4 (35) 54
Derivative financial
instruments
Interest rate contracts (2) — (1) — — — (3)
Credit contracts — — — — — — —
Other contracts — 25 (8) (8) — — 9
Total fixed income 497 22 (9) (143) 23 (92)298
Alternatives
Hedge funds 2,854 10 (22)126 — — 2,968
Private equity 1,491 244 — 350 — — 2,085
Real estate 120 39 —203 — — 362
Total alternatives 4,465 293 (22)679 — — 5,415
Other (3) — — 1 — — (2)
Total Level 3 fair value $ 4,981 $ 314 $ (32) $ 536 $ 23 $ (93) $ 5,729