2.2.0.25falsefalse002100 - Disclosure - Held-For-Sale Operations, Discontinued Operations, Other Dispositions, and Acquisitionstruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010
USD ($)
USD ($) / shares
$Cur_12mos_20101231http://www.sec.gov/CIK0000037996duration2010-01-01T00:00:002010-12-31T00:00:00USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170PureStandardhttp://www.xbrl.org/2003/instancepurexbrli0SharesStandardht
tp://www.xbrl.org/2003/instancesharesxbrli0USD_Per_ShareDividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0f_HeldForSaleOperationsDiscontinuedOperationsOtherD
ispositionsAndAcquisitionsAbstractffalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse3false0f_HeldForSaleOperationsDiscontinuedOperationsOtherDispositionsAndAcquisitionsDisclosureTextBlockffalsenadurationDisclosure includes (a) the facts and circumstances leading to the completed or expected dis
posal, manner and timing of...falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1falsefalsefalse00<div class="BWxbrlnote24"><div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><div><div>
<div
style="DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; text-align: left">
<a id="xbrlnote24" name="xbrlnote24"
style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
24. HELD-FOR-SALE OPERATIONS, DISCONTINUED
OPERATIONS, OTHER DISPOSITIONS, AND ACQUISITIONS</a>
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
We classify disposal groups as held for sale when management,
having the authority to approve the action, commits to a plan
to sell the disposal group, the sale is probable within one
year and the disposal group is available for immediate sale
in its present condition. We also consider whether
an active program to locate a buyer has been initiated,
whether the disposal group is marketed actively for sale at a
price that is reasonable in relation to its current fair
value, and whether actions required to complete the plan
indicate that it is unlikely that significant changes to the
plan will be made or that the plan will be
withdrawn. We classify disposal groups as
discontinued operations when the criteria to be classified as
held for sale have been met and we will not have any
significant involvement with the disposal groups after the
sale.
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
We perform an impairment test on disposal
groups. An impairment charge is recognized when
the carrying value of the disposal group exceeds the
estimated fair value, less transaction costs. We
estimate fair value under the market approach to approximate
the expected proceeds to be received.
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
We are required by U.S. GAAP to aggregate the assets and
liabilities of all held-for-sale disposal groups on the
balance sheet for the period in which the disposal group is
held for sale. To provide comparative balance
sheets, we also aggregate the assets and liabilities for
significant held-for-sale disposal groups on the prior-period
balance sheet.
</div>
<div
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; text-align: left">
Automotive Sector
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; text-align: left">
Held-for-Sale Operations
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
As previously disclosed, in recent years we have undertaken
efforts to divest non-core assets to allow us to focus on our
global Ford brand. During the first quarter of
2009, based on our strategic review of Volvo and in light of
our goal to focus on the global Ford brand, our Board of
Directors committed to market Volvo actively for
sale. Accordingly, in the first quarter of 2009 we
reported Volvo as held for sale and we ceased depreciation of
its long-lived assets in the second quarter of 2009.
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
Our commitment to market Volvo actively for sale also
triggered a held-for-sale impairment test in the first
quarter of 2009. We received information from our
discussions with potential buyers that provided us a value
for Volvo using a market approach, rather than an income
approach. We concluded that the information we
received from our discussions with potential buyers was
representative of the value of Volvo given the current market
conditions, the characteristics of viable market
participants, and our anticipation of a sales transaction for
Volvo. These inputs resulted in a lower value for
Volvo than the discounted cash flow method we had used in
previous impairment testing.
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
In the first quarter of 2009, after considering deferred
gains reported in <font
style="DISPLAY: inline; FONT-STYLE: italic">Accumulated other
comprehensive income/(loss),</font> we recognized a pre-tax
impairment charge of $650 million related to our total
investment in Volvo. The impairment was recorded
in <font
style="DISPLAY: inline; FONT-STYLE: italic">Automotive cost
of sales.</font>
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
On March 28, 2010, we entered into a definitive agreement to
sell Volvo and related assets to Zhejiang Geely Holding Group
Company Limited ("Geely").
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
As part of the agreement with Geely, we continue to supply
Volvo with, for differing periods, powertrains, stampings and
other vehicle components. Volvo will continue to
supply engines, stampings and other components to us for a
period of time. We also committed to provide
certain engineering support, information technology, access
to tooling for common components, accounting and other
selected services for a transition period to ensure a smooth
separation process. Due to our continued
involvement with Volvo after separation, we have not
classified Volvo as a discontinued operation.
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: justify">
The assets and liabilities of Volvo that were classified as
held for sale are as follows (in millions):
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div style="text-align: left">
<table cellpadding="0" cellspacing="0" width="100%"
style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="bottom" width="77%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; PADDING-BOTTOM: 2px">
</td>
<td valign="bottom" width="2%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 2px">
</td>
<td colspan="2" valign="bottom" width="9%"
style="BORDER-BOTTOM: black 2px solid">
<div
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<div
style="DISPLAY: block; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; text-align: center">
August 2<font
style="DISPLAY: inline; FONT-FAMILY: times new roman">,</font>
</div>
<div
style="DISPLAY: block; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; text-align: center">
2010
</div>
</div>
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 2px; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 2px">
</td>
<td colspan="2" valign="bottom" width="9%"
style="BORDER-BOTTOM: black 2px solid">
<div
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<div
style="DISPLAY: block; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; text-align: center">
December 31,
</div>
<div
style="DISPLAY: block; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; text-align: center">
2009
</div>
</div>
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 2px; TEXT-ALIGN: left">
</td>
</tr>
<tr>
<td valign="bottom" width="77%">
<div
style="DISPLAY: block; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt; text-align: justify">
Assets
</div>
</td>
<td valign="bottom" width="2%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td colspan="2" valign="bottom" width="9%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td colspan="2" valign="bottom" width="9%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="bottom" width="77%">
<div
style="DISPLAY: block; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt; text-align: justify">
Cash and cash equivalents<font
style="MARGIN-LEFT: 12pt"> </font>
</div>
</td>
<td valign="bottom" width="2%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
$
</td>
<td valign="bottom" width="8%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
456
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
$
</td>
<td valign="bottom" width="8%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
<font style="MARGIN-LEFT: 12pt"> </font><font
style="DISPLAY: inline; FONT-FAMILY: times new roman">-</font>
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
</tr>
<tr bgcolor="white">
<td valign="bottom" width="77%">
<div
style="DISPLAY: block; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt; text-align: justify">
Receivables<font
style="MARGIN-LEFT: 12pt"> </font>
</div>
</td>
<td valign="bottom" width="2%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="8%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
<font style="MARGIN-LEFT: 21pt"> </font>473
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="8%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
<font style="MARGIN-LEFT: 21pt"> </font>420
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="bottom" width="77%">
<div
style="DISPLAY: block; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt; text-align: justify">
Inventories<font
style="MARGIN-LEFT: 12pt"> </font>
</div>
</td>
<td valign="bottom" width="2%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="8%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
<font style="MARGIN-LEFT: 9.85pt"> </font>1,262
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="8%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
<font style="MARGIN-LEFT: 9.85pt"> </font>1,236
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
</tr>
<tr bgcolor="white">
<td valign="bottom" width="77%">
<div
style="DISPLAY: block; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt; text-align: justify">
Net property<font
style="MARGIN-LEFT: 12pt"> </font>
</div>
</td>
<td valign="bottom" width="2%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="8%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
<font style="MARGIN-LEFT: 9.85pt"> </font>4,763
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="8%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
<font style="MARGIN-LEFT: 9.85pt"> </font>4,682
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="bottom" width="77%">
<div
style="DISPLAY: block; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt; text-align: justify">
Goodwill<font style="MARGIN-LEFT: 12pt"> </font>
</div>
</td>
<td valign="bottom" width="2%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="8%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
<font style="MARGIN-LEFT: 9.85pt"> </font>1,229
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="8%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
<font style="MARGIN-LEFT: 9.85pt"> </font>1,241
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
</tr>
<tr bgcolor="white">
<td valign="bottom" width="77%">
<div
style="DISPLAY: block; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt; text-align: justify">
Other intangibles<font
style="MARGIN-LEFT: 12pt"> </font>
</div>
</td>
<td valign="bottom" width="2%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="8%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
<font style="MARGIN-LEFT: 21pt"> </font>225
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="8%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
<font style="MARGIN-LEFT: 21pt"> </font>204
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="bottom" width="77%">
<div
style="DISPLAY: block; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt; text-align: justify">
Other assets<font
style="MARGIN-LEFT: 12pt"> </font>
</div>
</td>
<td valign="bottom" width="2%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="8%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
<font style="MARGIN-LEFT: 21pt"> </font>583
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="8%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
<font style="MARGIN-LEFT: 21pt"> </font>485
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
</tr>
<tr bgcolor="white">
<td valign="bottom" width="77%"
style="PADDING-BOTTOM: 2px">
<div
style="DISPLAY: block; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt; text-align: justify">
Impairment of carrying value<font
style="MARGIN-LEFT: 12pt"> </font>
</div>
</td>
<td valign="bottom" width="2%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; PADDING-BOTTOM: 2px">
</td>
<td valign="bottom" width="1%"
style="BORDER-BOTTOM: black 2px solid; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="8%"
style="BORDER-BOTTOM: black 2px solid; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
<font style="MARGIN-LEFT: 12.15pt"> </font><font
style="DISPLAY: inline">(650</font>
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; PADDING-BOTTOM: 2px; TEXT-ALIGN: left">
)
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; PADDING-BOTTOM: 2px">
</td>
<td valign="bottom" width="1%"
style="BORDER-BOTTOM: black 2px solid; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="8%"
style="BORDER-BOTTOM: black 2px solid; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
<font style="MARGIN-LEFT: 12.15pt"> </font><font
style="DISPLAY: inline">(650</font>
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; PADDING-BOTTOM: 2px; TEXT-ALIGN: left">
)
</td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="bottom" width="77%"
style="PADDING-BOTTOM: 4px">
<div
style="DISPLAY: block; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 9pt; text-align: justify">
Total assets of the held-for-sale operations<font
style="MARGIN-LEFT: 12pt"> </font>
</div>
</td>
<td valign="bottom" width="2%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; PADDING-BOTTOM: 4px">
</td>
<td valign="bottom" width="1%"
style="BORDER-BOTTOM: black 4px double; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
$
</td>
<td valign="bottom" width="8%"
style="BORDER-BOTTOM: black 4px double; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
8,341
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; PADDING-BOTTOM: 4px; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; PADDING-BOTTOM: 4px">
</td>
<td valign="bottom" width="1%"
style="BORDER-BOTTOM: black 4px double; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
$
</td>
<td valign="bottom" width="8%"
style="BORDER-BOTTOM: black 4px double; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
7,618
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; PADDING-BOTTOM: 4px; TEXT-ALIGN: left">
</td>
</tr>
<tr bgcolor="white">
<td valign="bottom" width="77%">
<div
style="DISPLAY: block; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt; text-align: justify">
Liabilities
</div>
</td>
<td valign="bottom" width="2%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="8%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="8%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="bottom" width="77%">
<div
style="DISPLAY: block; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt; text-align: justify">
Payables<font style="MARGIN-LEFT: 12pt"> </font>
</div>
</td>
<td valign="bottom" width="2%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
$
</td>
<td valign="bottom" width="8%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
1<font
style="DISPLAY: inline; FONT-FAMILY: times new roman">,</font>555
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
$
</td>
<td valign="bottom" width="8%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
1,980
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
</tr>
<tr bgcolor="white">
<td valign="bottom" width="77%">
<div
style="DISPLAY: block; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt; text-align: justify">
Pension liabilities<font
style="MARGIN-LEFT: 12pt"> </font>
</div>
</td>
<td valign="bottom" width="2%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="8%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
<font style="MARGIN-LEFT: 21pt"> </font>337
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="8%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
<font style="MARGIN-LEFT: 21pt"> </font>387
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="bottom" width="77%">
<div
style="DISPLAY: block; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt; text-align: justify">
Warranty liabilities<font
style="MARGIN-LEFT: 12pt"> </font>
</div>
</td>
<td valign="bottom" width="2%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="8%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
<font style="MARGIN-LEFT: 21pt"> </font>245
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="8%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
<font style="MARGIN-LEFT: 21pt"> </font>358
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
</tr>
<tr bgcolor="white">
<td valign="bottom" width="77%">
<div
style="DISPLAY: block; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt; text-align: justify">
Debt<font style="MARGIN-LEFT: 12pt"> </font>
</div>
</td>
<td valign="bottom" width="2%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="8%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
<font style="MARGIN-LEFT: 28.4pt"> </font>51
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="8%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
<font style="MARGIN-LEFT: 12pt"> </font>-
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="bottom" width="77%"
style="PADDING-BOTTOM: 2px">
<div
style="DISPLAY: block; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt; text-align: justify">
Other liabilities<font
style="MARGIN-LEFT: 12pt"> </font>
</div>
</td>
<td valign="bottom" width="2%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; PADDING-BOTTOM: 2px">
</td>
<td valign="bottom" width="1%"
style="BORDER-BOTTOM: black 2px solid; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="8%"
style="BORDER-BOTTOM: black 2px solid; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
<font style="MARGIN-LEFT: 9.85pt"> </font><font
style="DISPLAY: inline">2,985</font>
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; PADDING-BOTTOM: 2px; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; PADDING-BOTTOM: 2px">
</td>
<td valign="bottom" width="1%"
style="BORDER-BOTTOM: black 2px solid; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="8%"
style="BORDER-BOTTOM: black 2px solid; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
<font style="MARGIN-LEFT: 9.85pt"> </font><font
style="DISPLAY: inline">2,596</font>
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; PADDING-BOTTOM: 2px; TEXT-ALIGN: left">
</td>
</tr>
<tr bgcolor="white">
<td valign="bottom" width="77%"
style="PADDING-BOTTOM: 4px">
<div
style="DISPLAY: block; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: -9pt; text-align: justify">
Total liabilities of the held-for-sale
operations<font
style="MARGIN-LEFT: 12pt"> </font>
</div>
</td>
<td valign="bottom" width="2%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; PADDING-BOTTOM: 4px">
</td>
<td valign="bottom" width="1%"
style="BORDER-BOTTOM: black 4px double; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
$
</td>
<td valign="bottom" width="8%"
style="BORDER-BOTTOM: black 4px double; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
5,173
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; PADDING-BOTTOM: 4px; TEXT-ALIGN: left">
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; PADDING-BOTTOM: 4px">
</td>
<td valign="bottom" width="1%"
style="BORDER-BOTTOM: black 4px double; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: left">
$
</td>
<td valign="bottom" width="8%"
style="BORDER-BOTTOM: black 4px double; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-ALIGN: right">
5,321
</td>
<td valign="bottom" width="1%"
style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; PADDING-BOTTOM: 4px; TEXT-ALIGN: left">
</td>
</tr>
</table>
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
On August 2, 2010, we completed the sale of Volvo
and related assets. As agreed, Volvo will retain
or acquire certain assets presently used by Volvo, consisting
principally of ownership of, or licenses to use, certain
intellectual property ("Related Assets").
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; text-align: left">
<font style="MARGIN-LEFT: 15pt"> </font>The total
purchase price for Volvo and the Related Assets set forth in
the agreement was $1.8 billion, of which $200<font
style="DISPLAY: inline; FONT-FAMILY: Times New Roman"> </font>million
was to be paid in the form of a note and the balance to be
paid in cash, with the cash portion subject to customary
purchase price adjustments. In accordance with the
terms of the agreement, at closing, we received
$1.3 billion in cash, recorded a note receivable in the
amount of $200 million, recorded a $126 million
receivable for additional purchase price adjustments
(relating to our best estimate of additional proceeds,
pension liabilities, debt, cash and working capital balances)
and recognized a pre-tax loss of $23 million reported in
<font style="DISPLAY: inline; FONT-STYLE: italic">Automotive
interest income and other non-operating income/(expense),
net</font>. This loss includes the recognition of
$1.5<font
style="DISPLAY: inline; FONT-FAMILY: Times New Roman"> </font>billion
of accumulated other comprehensive income and $38 million of
related separation costs. We expect to finalize
and settle the final true-up of the purchase price
adjustments in the first quarter of 2011.
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
<font style="DISPLAY: inline; FONT-STYLE: italic">Jaguar Land
Rover.</font> In 2008, we sold our Jaguar
Land Rover operations. We recorded a pre-tax
impairment charge of $421 million reported in <font
style="DISPLAY: inline; FONT-STYLE: italic">Automotive cost
of sales</font> and a pre-tax loss of $136 million
reported in <font
style="DISPLAY: inline; FONT-STYLE: italic">Automotive
interest income and other non-operating income/(expense),
net.</font>
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
As part of this transaction, we continue to supply Jaguar
Land Rover with powertrains and stampings. We also
provide transitional support, including engineering, and
other services. Ford Credit provided financing for
Jaguar Land Rover dealers and customers during a transition
period, which varied by market, for up to 12 months.
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
<font style="DISPLAY: inline; FONT-STYLE: italic">Automotive
Components Holdings, LLC ("ACH") - Milan,
Michigan</font><font
style="DISPLAY: inline; FONT-STYLE: italic">. </font>In
2008, we classified the ACH Milan plant, which produces fuel
tanks and bumper fascias, as held for sale. At
that time, a pre-tax impairment charge of $18 million
was recorded, which represented the excess of net book value
of the held-for-sale assets over the expected
proceeds. During the third quarter of 2008,
deteriorating domestic economic and industry conditions
significantly reduced the probability of this sale, and the
Milan plant subsequently was reclassified as held and
used. The pre-tax impairment charge continues to
be reported in <font
style="DISPLAY: inline; FONT-STYLE: italic">Automotive cost
of sales.</font>
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; text-align: left">
Discontinued Operations
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
<font style="DISPLAY: inline; FONT-STYLE: italic">Automotive
Protection Corporation ("APCO"). </font>In 2007,
we completed the sale of APCO and realized a pre-tax gain of
$51 million (net of transaction costs and working
capital adjustments), reported in <font
style="DISPLAY: inline; FONT-STYLE: italic">Income/(Loss)
from discontinued operations.</font> In the second
quarter of 2009, we received additional proceeds related to
the settlement of a state and local tax matter that was
unresolved at the time of sale and recognized an after-tax
gain of $3 million in <font
style="DISPLAY: inline; FONT-STYLE: italic">Income/(Loss)
from discontinued operations</font>. For 2010 and
2008 there was no operating income, or gains or losses
related to discontinued operations.
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; text-align: left">
Other Dispositions
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
<font style="DISPLAY: inline; FONT-STYLE: italic">Progress
Ford Sales Limited ("PFS"). </font>In the second
quarter of 2009, PFS was liquidated. As a result,
we recognized in <font
style="DISPLAY: inline; FONT-STYLE: italic">Automotive cost
of sales</font> a $281 million foreign exchange
translation loss previously deferred in <font
style="DISPLAY: inline; FONT-STYLE: italic">Accumulated other
comprehensive income/(loss).</font>
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
<font
style="DISPLAY: inline; FONT-STYLE: italic">NuCellSys. </font>In
2009, we reached an agreement with Daimler AG ("Daimler") to
sell our entire ownership interest in NuCellSys to
Daimler. NuCellSys was a joint venture created by
Ford and Daimler in 2005 for research into and development
and manufacture of fuel cell systems. As a result
of the sale, we recognized a loss of $29 million in
<font style="DISPLAY: inline; FONT-STYLE: italic">Automotive
interest income and other non-operating income/(expense),
net.</font>
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
<font
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font
style="DISPLAY: inline; FONT-STYLE: italic">ACH</font> <font
style="DISPLAY: inline; FONT-STYLE: italic">-</font> <font
style="DISPLAY: inline; FONT-STYLE: italic">Glass</font><font
style="DISPLAY: inline; FONT-STYLE: italic">. </font>In
2008, we completed the sale of the ACH glass business to
Zeledyne, LLC ("Zeledyne"). As a result of this
transaction, we recognized a pre-tax loss of
$285 million reported in <font
style="DISPLAY: inline; FONT-STYLE: italic">Automotive
interest income and other non-operating income/(expense),
net. </font>During the third quarter of 2008, the
sale agreement between Ford and Zeledyne was</font> <font
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">amended
resulting in an additional $19 million pre-tax loss reported
in <font
style="DISPLAY: inline; FONT-STYLE: italic">Automotive
interest income and other non-operating income/(expense),
net.</font> With this, our pre-tax loss was $304
million.</font>
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
<font style="DISPLAY: inline; FONT-STYLE: italic">Ballard
Power Systems, Inc. ("Ballard").</font> In 2008,
we reached an agreement with Ballard to exchange our entire
ownership interest of 12.9 million shares of Ballard
stock for a 30% equity interest in AFCC along with
$22 million in cash. AFCC is a joint venture
between Ford (30%), Daimler (50.1%) and Ballard (19.9%) that
was created for the development of automotive fuel
cells. We also have agreed to purchase from
Ballard its 19.9% equity interest for $65 million plus
interest within five years. As a result of the
exchange, we recognized in <font
style="DISPLAY: inline; FONT-STYLE: italic">Automotive cost
of sales</font> a pre-tax loss of
$70 million. Our investment in AFCC is
reported in <font
style="DISPLAY: inline; FONT-STYLE: italic">Equity in</font>
<font style="DISPLAY: inline; FONT-STYLE: italic">net assets
of affiliated companies</font>.
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
<font
style="DISPLAY: inline; FONT-STYLE: italic">Thai-Swedish
Assembly Group ("TSA").</font> In 2008, we and our
subsidiary, Volvo Car Corporation, completed the sale of TSA
to Volvo Holding Sverige, AB (an unrelated company, also
known as Volvo Truck and Bus (Thailand) Co.,
Ltd.). Under the terms of the agreement, we sold
$14 million of net assets and received $24 million
in gross proceeds. We recognized a pre-tax gain of
$12 million (including $2 million of foreign
currency translation adjustments) in <font
style="DISPLAY: inline; FONT-STYLE: italic">Automotive
interest income and other non-operating income/(expense),
net</font>.
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; text-align: left">
Acquisitions
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; text-align: left">
<font style="MARGIN-LEFT: 13.5pt"> </font><font
style="DISPLAY: inline; FONT-STYLE: italic">First
Aquitaine.</font> In the second quarter of 2009,
we sold our transmission manufacturing facility in Bordeaux,
France to HZ Holding France and entered into a
volume-dependent pricing agreement with the new owner to
purchase all of First Aquitaine's output. In the
fourth quarter of 2010, we acquired 100% of the voting
interest in First Aquitaine from HZ Holding
France. We will continue to purchase transmissions
from First Aquitaine. For additional discussion on
variable interest entities, see Note 13.
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
<font
style="DISPLAY: inline; FONT-STYLE: italic">ACSA. </font>In
2008, we acquired 72.4% of the shares of ACSA, a Romanian
carmaker, from Romania's Authority for State Assets Recovery
("AVAS"). During 2010 we completed the acquisition
of the remaining minority interest and we now own 100% of
ACSA.
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
We manage the day-to-day operations at
ACSA. However, as a result of the contractual
commitments in the Sale and Purchase Agreement, the Romanian
government maintains the ability to influence certain key
decisions regarding the business until March
2012. For example, during this period the Romanian
government has the ability to influence the following:
</div>
<div
style="DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
</div>
<div>
<table align="center" border="0" cellpadding="0"
cellspacing="0" width="100%"
style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
<td style="WIDTH: 4.5pt">
<div
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
</div>
</td>
<td style="WIDTH: 18pt">
<div
style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
●
</div>
</td>
<td>
<div
style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; text-align: left">
Implementation of the business plan, including
investment and strategic decisions to achieve minimum
vehicle production levels;
</div>
</td>
</tr>
</table>
</div>
<div>
<table align="center" border="0" cellpadding="0"
cellspacing="0" width="100%"
style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
<td style="WIDTH: 4.5pt">
<div
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
</div>
</td>
<td style="WIDTH: 18pt">
<div
style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
●
</div>
</td>
<td>
<div
style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; text-align: left">
The minimum level of full-time employees used in
automobile production;
</div>
</td>
</tr>
</table>
</div>
<div>
<table align="center" border="0" cellpadding="0"
cellspacing="0" width="100%"
style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
<td style="WIDTH: 4.5pt">
<div
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
</div>
</td>
<td style="WIDTH: 18pt">
<div
style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
●
</div>
</td>
<td>
<div
style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; text-align: left">
Capital expenditure and investment levels, including
environmental protection improvements; and
</div>
</td>
</tr>
</table>
</div>
<div>
<table align="center" border="0" cellpadding="0"
cellspacing="0" width="100%"
style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
<td style="WIDTH: 4.5pt">
<div
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
</div>
</td>
<td style="WIDTH: 18pt">
<div
style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
●
</div>
</td>
<td>
<div
style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; text-align: left">
Completion of restructuring plans requiring us to
return non-core assets to the Romanian government.
</div>
</td>
</tr>
</table>
</div>
<div
style="DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
We anticipate that we will consolidate the operations upon
the cessation of AVAS' control and participation in the
operations.
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; text-align: left">
Financial Services Sector
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; text-align: left">
Held-for-Sale Operations
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
<font
style="DISPLAY: inline; FONT-STYLE: italic">Held-for-Sale
Finance Receivables.</font> During the third
quarter of 2009, Ford Credit reclassified to <font
style="DISPLAY: inline; FONT-STYLE: italic">Assets of
held-for-sale operations</font> $911 million of Ford
Credit Australia held-for-investment finance receivables that
it no longer had the intent to hold for the foreseeable
future or until maturity or payoff. A valuation
allowance of $52 million was recorded in <font
style="DISPLAY: inline; FONT-STYLE: italic">Financial
Services other income/(loss), net</font> related to these
assets. The receivables were sold on
October 1, 2009.
</div>
<div
style="DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
<font style="DISPLAY: inline; FONT-STYLE: italic">Primus
Leasing Company Limited ("Primus
Thailand").</font> In March 2009, Ford Credit
completed the sale of Primus Thailand, its operation in
Thailand that offered automotive retail and wholesale
financing of Ford, Mazda and Volvo vehicles. As a
result of the sale, we received $165 million in proceeds
and recognized a <font
style="DISPLAY: inline; FONT-STYLE: italic">de minimis</font>
pre-tax gain in <font
style="DISPLAY: inline; FONT-STYLE: italic">Financial
Services other income/(loss), net.</font>
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; text-align: left">
Discontinued Operations
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
<font style="DISPLAY: inline; FONT-STYLE: italic">Triad
Financial Corporation ("Triad"). </font>In 2005,
Ford Credit completed the sale of Triad. Ford
Credit received additional proceeds pursuant to a contractual
agreement entered into at the closing of the sale, causing us
to recognize an after-tax gain of $2 million and
$9 million in 2009 and 2008, respectively, in <font
style="DISPLAY: inline; FONT-STYLE: italic">Income/(Loss)
from discontinued operations.</font>
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; text-align: left">
Other Dispositions
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
<font style="DISPLAY: inline; FONT-STYLE: italic">Nordic
Operations.</font> In 2008, Ford Credit completed
the creation of a joint venture finance company and
transferred the majority of its business and assets from
Denmark, Finland, Norway, and Sweden into the joint
venture. The joint venture will support the sale
of Ford vehicles in these markets. As a result of
the sale, we reduced <font
style="DISPLAY: inline; FONT-STYLE: italic">Finance
receivables, net</font> by $1.7 billion, and recognized
a pre-tax gain of $85 million (net of transaction costs
and including $35 million of foreign currency
translation adjustments) in <font
style="DISPLAY: inline; FONT-STYLE: italic">Financial
Services other income/(loss), net. </font>Ford
Credit reports its ownership interest in the joint venture as
an equity method investment<font
style="DISPLAY: inline; FONT-STYLE: italic">.</font>
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
<font style="DISPLAY: inline; FONT-STYLE: italic">PRIMUS
Financial Services Inc. ("PRIMUS
Japan"). </font>In 2008, Ford Credit completed the
sale of 96% of its ownership interest in PRIMUS Japan, its
operation in Japan that offered automotive retail and
wholesale financing of Ford and Mazda vehicles. As
a result of the sale, we reduced <font
style="DISPLAY: inline; FONT-STYLE: italic">Finance
receivables, net</font> by $1.8 billion, reduced <font
style="DISPLAY: inline; FONT-STYLE: italic">Debt</font> by
$252 million, and recognized a pre-tax gain of
$22 million (net of transaction costs and including
$28 million of foreign currency translation adjustments)
in <font
style="DISPLAY: inline; FONT-STYLE: italic">Financial
Services other income/(loss), net. </font>Ford
Credit reports its remaining ownership interest as a cost
method investment.
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
<div
style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt; text-align: left">
<font style="DISPLAY: inline; FONT-STYLE: italic">Primus
Finance and Leasing, Inc. ("Primus
Philippines"). </font>In 2008, Ford Credit
completed the sale of its 60% ownership interest in Primus
Philippines, its operation in the Philippines that offered
automotive retail and wholesale financing of Ford and Mazda
vehicles. Ford Credit also completed the sale of
its 40% ownership interest in PFL Holdings, Inc., a holding
company in the Philippines that owned the remaining 40%
ownership interest in Primus Philippines. As a
result of the sale, we recognized a pre-tax gain of
$5 million (net of transaction costs and including
$1 million of foreign currency translation adjustments)
in <font
style="DISPLAY: inline; FONT-STYLE: italic">Financial
Services other income/(loss), net.</font>
</div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<br />
</div>
</div></div></div></div>NOTE
24. HELD-FOR-SALE OPERATIONS, DISCONTINUED
OPERATIONS, OTHER DISPOSITIONS, AND ACQUISITIONS
WefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDisclosure includes (a) the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain or loss recognized in the income statement and the income statement caption that includes that gain or loss, amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Incl
udes all disposal groups, including those classified as components of the entity (discontinued operations); and (b) the schedule of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This schedule does not include leveraged buyouts.No authoritative reference available.falsefalse12Held-For-Sale Operations, Discontinued Operations, Other Dispositions, and AcquisitionsUnKnownUnKnownUnKnownUnKnownfalsetrue
