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Notes to the Financial Statements
90 Ford Motor Company | 2010 Annual Report
NOTE 4. FAIR VALUE MEASUREMENTS (Continued)
Input Hierarchy of Items Measured at Fair Value on a Recurring Basis
The following tables summarize the fair values by input hierarchy of items measured at fair value on a recurring basis
on our balance sheet (in millions):
December 31
December 31December 31
December 31, 2010
, 2010, 2010
, 2010
Level 1
Level 1Level 1
Level 1
Level 2
Level 2Level 2
Level 2
Level 3
Level 3Level 3
Level 3
Total
TotalTotal
Total
Automotive Sector
Automotive SectorAutomotive Sector
Automotive Sector
Assets
AssetsAssets
Assets
Cash equivalents – financial instruments (a)
U.S. government ................................................................
................................
$ — $ — $ — $ —
U.S. government-sponsored enterprises................................
................................
— 224 — 224
Government – non-U.S.................................
................................
— 133 — 133
Foreign government agencies/Corporate debt (b)
................................
— 1,818 — 1,818
Total cash equivalents – financial instruments
................................
— 2,175 — 2,175
Marketable securities (c)
U.S. government ................................................................
................................
2,718 — — 2,718
U.S. government-sponsored enterprises................................
................................
— 4,809 — 4,809
Foreign government agencies/Corporate debt (b)
................................
— 3,732 1 3,733
Mortgage-backed and other asset-backed
................................
— 20 — 20
Equity................................................................
................................
203 — — 203
Government – non-U.S.................................
................................
— 818 1 819
Other liquid investments (d) ................................
................................
— 1,704 — 1,704
Total marketable securities ................................
................................
2,921 11,083 2 14,006
Derivative financial instruments
Foreign exchange contracts................................
................................
— 58 — 58
Commodity contracts ................................
................................
— 36 33 69
Other – warrants................................................................
................................
— — 5 5
Total derivative financial instruments (e)
................................
— 94 38 132
Total assets at fair value ................................
................................
$ 2,921 $ 13,352 $ 40 $ 16,313
Liabilities
LiabilitiesLiabilities
Liabilities
Derivative financial instruments
Foreign exchange contracts................................
................................
$ — $ 93 $ — $ 93
Commodity contracts ................................
................................
— 6 — 6
Total derivative financial instruments (e)
................................
— 99 — 99
Total liabilities at fair value................................
................................
$ — $ 99 $ — $ 99
(a) "Cash equivalents" exclude 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, which approximates fair value. In addition to these cash equivalents,
we also had cash on hand totaling $1.9 billion as of December 31, 2010.
(b) Includes notes issued by foreign government agencies that include implicit and explicit guarantees, as well as notes issued by supranational
institutions.
(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 $203 million as of December 31, 2010; see Note 1 for additional detail.
(d) Other liquid investments include certificates of deposit and time deposits with a maturity of more than 90 days at date of purchase.
(e) See Note 26 for additional information regarding derivative financial instruments.