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Ford Motor Company | 2012 Annual Report 81
FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
NOTE 4. FAIR VALUE MEASUREMENTS (Continued)
Input Hierarchy of Items Measured at Fair Value on a Recurring Basis
The following tables categorize the fair values of items measured at fair value on a recurring basis on our balance
sheet (in millions):
December 31, 2012 December 31, 2011
Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total
Automotive Sector
Assets
Cash equivalents – financial instruments
U.S. government $ — $ — $ — $ — $ — $ — $ — $ —
U.S. government-sponsored enterprises — 718 — 718 —319 —319
Non-U.S. government — 139 — 139 —168 —168
Non-U.S. government agencies (a) — 365 — 365 —820 —820
Corporate debt — — — — — 2—2
Total cash equivalents – financial
instruments (b) — 1,222 —1,222 —1,309 — 1,309
Marketable securities (c)
U.S. government 4,493 — — 4,493 2,960 — — 2,960
U.S. government-sponsored enterprises — 5,459 —5,459 —4,852 — 4,852
Non-U.S. government agencies (a) — 4,794 —4,794 —4,558 — 4,558
Corporate debt — 1,871 —1,871 —1,631 — 1,631
Mortgage-backed and other asset-backed — 25 — 25 — 38 — 38
Equities 142 — — 142 129 — — 129
Non-U.S. government — 1,367 —1,367 —598 —598
Other liquid investments (d) — 27 — 27 — 17 — 17
Total marketable securities 4,635 13,543 —18,178 3,089 11,694 — 14,783
Derivative financial instruments
Foreign currency exchange contracts — 218 — 218 —198 14 212
Commodity contracts — 19 4 23 — 112
Other – warrants — — — — — — 4 4
Total derivative financial instruments (e) — 237 4 241 —199 19 218
Total assets at fair value $ 4,635 $15,002 $ 4 $ 19,641 $3,089 $13,202 $ 19 $ 16,310
Liabilities
Derivative financial instruments
Foreign currency exchange contracts $ — $ 486 $ — $ 486 $ — $ 442 $6$448
Commodity contracts — 112 12 124 —289 83 372
Total derivative financial instruments (e) — 598 12 610 —731 89 820
Total liabilities at fair value $ — $ 598 $ 12 $ 610 $ — $ 731 $ 89 $ 820
__________
(a) Includes notes issued by non-U.S. government agencies, as well as notes issued by supranational institutions.
(b) Excludes time deposits, certificates of deposit, money market accounts, and other cash equivalents reported at par value on our balance sheet
totaling $3 billion and $4.6 billion at December 31, 2012 and 2011, respectively, for the Automotive sector. In addition to these cash equivalents,
our Automotive sector also had cash on hand totaling $2 billion and $2.1 billion at December 31, 2012 and 2011, respectively.
(c) 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 $201 million at December 31, 2011. This investment matured in 2012.
(d) Includes certificates of deposit and time deposits subject to changes in value.
(e) See Note 18 for additional information regarding derivative financial instruments.
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