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Ford Motor Company | 2013 Annual Report 87
FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
NOTE 6. FINANCIAL SERVICES SECTOR FINANCE RECEIVABLES (Continued)
Finance receivables, net were as follows (in millions):
December 31, 2013 December 31, 2012
North
America International
Total
Finance
Receivables
North
America International
Total
Finance
Receivables
Consumer
Retail financing, gross $ 40,902 $10,797 $51,699 $39,504 $10,460 $ 49,964
Less: Unearned interest supplements (1,255) (247) (1,502) (1,264) (287)(1,551)
Consumer finance receivables 39,647 10,550 50,197 38,240 10,173 48,413
Non-Consumer
Dealer financing 22,072 7,833 29,905 19,429 7,242 26,671
Other 732 339 1,071 689 386 1,075
Non-Consumer finance receivables 22,804 8,172 30,976 20,118 7,628 27,746
Total recorded investment $ 62,451 $18,722 $81,173 $58,358 $17,801 $ 76,159
Recorded investment in finance receivables $ 62,451 $18,722 $81,173 $58,358 $17,801 $ 76,159
Less: Allowance for credit losses (280)(77)(357)(309)(80) (389)
Finance receivables, net (a) $ 62,171 $18,645 $80,816 $58,049 $17,721 $ 75,770
Net finance receivables subject to fair value (b) $ 79,149 $ 73,618
Fair value 80,838 75,618
__________
(a) At December 31, 2013 and 2012, Finance receivables, net on the consolidated balance sheet were $77.5 billion and $71 billion, respectively. The
balance is comprised of Financial Services sector finance receivables of $80.8 billion and $75.8 billion, respectively, net of $3.3 billion and
$4.8 billion, respectively, of receivables purchased by Financial Services sector from Automotive sector, which are reclassified to Other receivables,
net.
(b) At December 31, 2013 and 2012, excludes $1.7 billion and $2.2 billion, respectively, of certain receivables (primarily direct financing leases) that
are not subject to fair value disclosure requirements.
Excluded from finance receivables at December 31, 2013 and 2012, was $196 million and $183 million, respectively,
of accrued uncollected interest, which we report in Other assets on the balance sheet.
Included in the recorded investment in finance receivables at December 31, 2013 and 2012 were North America
consumer receivables of $21.8 billion and $23 billion and non-consumer receivables of $18.9 billion and $17.1 billion,
respectively, and International consumer receivables of $5.9 billion and $6.6 billion and non-consumer receivables of
$5 billion and $4.5 billion, respectively, that secure certain debt obligations. The receivables are available only for
payment of the debt issued by, and other obligations of, the securitization entities that are parties to those securitization
transactions; they are not available to pay the other obligations of our Financial Services sector or the claims of Ford
Credit’s other creditors. Ford Credit holds the right to receive the excess cash flows not needed to pay the debt issued by,
and other obligations of, the securitization entities that are parties to those securitization transactions (see Notes 11 and
15).
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