Ford 2014 Annual Report Download - page 136
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FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
NOTE 10. NET PROPERTY AND LEASE COMMITMENTS (Continued)
Lease Commitments
We lease land, buildings, and equipment under agreements that expire over various contractual periods. Minimum
non-cancellable operating lease commitments at December 31, 2014 were as follows (in millions):
2015 2016 2017 2018 2019 Thereafter Total
Automotive sector $ 211 $ 166 $117 $ 70 $ 51 $ 64 $ 679
Financial Services sector 57 53 41 22 12 19 204
Total Company $ 268 $ 219 $158 $ 92 $ 63 $ 83 $ 883
Operating lease expense for the years ended December 31 was as follows (in millions):
2014 2013 2012
Automotive sector $ 423 $411 $404
Financial Services sector 101 105 106
Total Company $524 $516 $510
NOTE 11. OTHER LIABILITIES AND DEFERRED REVENUE
Other liabilities and deferred revenue at December 31 were as follows (in millions):
2014 2013
Automotive Sector
Current
Dealer and dealers’ customer allowances and claims $ 7,846 $ 7,730
Deferred revenue 3,923 2,817
Employee benefit plans 1,994 1,706
Accrued interest 222 262
Other postretirement employee benefits (“OPEB”) 397 387
Pension 374 327
Other 3,178 3,308
Total Automotive other liabilities and deferred revenue 17,934 16,537
Non-current
Pension 9,721 9,288
OPEB 5,991 5,502
Dealer and dealers’ customer allowances and claims 2,852 2,028
Deferred revenue 2,686 2,534
Employee benefit plans 1,149 1,213
Other 1,394 1,524
Total Automotive other liabilities and deferred revenue 23,793 22,089
Total Automotive sector 41,727 38,626
Financial Services Sector 1,850 2,260
Total Company $43,577 $ 40,886
FS-30