Ford 2014 Annual Report Download - page 150

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FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
NOTE 13. DEBT AND COMMITMENTS (Continued)
The fair value of debt presented above reflects interest accrued but not yet paid. Interest accrued on Automotive debt
was $180 million and $195 million at December 31, 2014 and 2013, respectively. Interest accrued on Financial Services
debt was $602 million and $633 million at December 31, 2014 and 2013, respectively. Interest accrued on debt is
reported in Other liabilities and deferred revenue. See Note 4 for fair value methodology.
We paid interest of $774 million, $746 million, and $693 million in 2014, 2013, and 2012, respectively, on Automotive
debt. We paid interest of $2.7 billion, $2.8 billion, and $3 billion in 2014, 2013, and 2012, respectively, on Financial
Services debt.
Maturities
Debt maturities at December 31, 2014 were as follows (in millions):
2015 2016 2017 2018 2019 Thereafter
Premium/
(Discount)
and Fair
Value
Adjustments
Total Debt
Maturities
Automotive Sector
Public unsecured debt securities $ 161 $ — $ — $ 361 $ —$ 6,273 $(144) $ 6,651
DOE ATVM Incentive Program 591 591 591 591 591 1,469 — 4,424
Short-term and other debt (a) 1,749 280 141 148 113 318 — 2,749
Total 2,501 871 732 1,100 704 8,060 (144) 13,824
Financial Services Sector
Unsecured debt 18,556 10,402 11,096 6,028 5,582 9,979 375 62,018
Asset-backed debt 18,115 13,115 7,678 1,063 2,760 600 (2) 43,329
Total 36,671 23,517 18,774 7,091 8,342 10,579 373 105,347
Total Company $ 39,172 $ 24,388 $ 19,506 $8,191 $9,046 $18,639 $229 $119,171
__________
(a) Primarily non-U.S. affiliate debt and includes the EIB secured loans.
FS-44