Debt And Commitments (Tables)

6 Months Ended

Jun. 30, 2011

Debt outstanding is shown below (in millions):



Automotive Sector	June 30, 2011			December 31, 2010
Debt payable within one year
Short-term with non-affiliates	$	388		$	478
Short-term with unconsolidated affiliates	260			382
Long-term payable within one year
Secured term loan	77			140
Secured revolving loan	—			838
Other debt	330			211
Total debt payable within one year	1,055			2,049
Long-term debt payable after one year
Public unsecured debt securities	5,260			5,260
Unamortized discount	(79		)	(81		)
Convertible notes	908			908
Unamortized discount	(186		)	(199		)
Subordinated convertible debentures	—			2,985
Secured term loan	1,703			3,946
U.S. Department of Energy ("DOE") loans	3,825			2,752
EIB loan	721			699
Other debt	795			758
Total long-term debt payable after one year	12,947			17,028
Total Automotive sector	$	14,002		$	19,077
Fair value of debt	$	13,924		$	19,260
Financial Services Sector
Short-term debt
Asset-backed commercial paper	$	6,619		$	6,634
Other asset-backed short-term debt	1,274			1,447
Ford Interest Advantage (a)	5,067			4,525
Other short-term debt	1,458			801
Total short-term debt	14,418			13,407
Long-term debt
Unsecured debt
Notes payable within one year	9,383			9,524
Notes payable after one year	24,817			26,390
Asset-backed debt
Notes payable within one year	14,197			16,684
Notes payable after one year	21,833			19,208
Unamortized discount	(246		)	(403		)
Fair value adjustment (b)	347			302
Total long-term debt	70,331			71,705
Total Financial Services sector	$	84,749		$	85,112
Fair value of debt	$	87,709		$	88,569
Total Automotive and Financial Services sectors	$	98,751		$	104,189
Intersector elimination	(201		)	(201		)
Total Company	$	98,550		$	103,988

__________


(a)	The Ford Interest Advantage program consists of Ford Credit's floating rate demand notes.


(b)	Adjustments related to designated fair value hedges of unsecured debt.

Schedule of Debt maturities [Table Text Block]

Debt maturities at June 30, 2011 were as follows (in millions):



	2011		2012			2013			2014			2015			Thereafter			Total Debt Maturities
Automotive Sector
Public unsecured debt securities	$	—	$	—		$	—		$	—		$	—		$	5,260		$	5,260
Unamortized discount (a)	—		—			—			—			—			(79		)	(79		)
Convertible notes	—		—			—			—			—			908			908
Unamortized discount (a)	—		—			—			—			—			(186		)	(186		)
Secured term loan	39		77			1,664			—			—			—			1,780
Secured revolving loan	—		—			—			—			—			—			—
U.S. DOE loans	—		192			383			383			383			2,484			3,825
Short-term and other debt (b)	749		298			333			55			781			278			2,494
Total Automotive debt	788		567			2,380			438			1,164			8,665			14,002

Financial Services Sector
Unsecured debt	10,192		7,887			5,317			3,760			5,982			7,587			40,725
Asset-backed debt	15,843		14,055			6,029			3,493			1,985			2,518			43,923
Unamortized (discount)/premium (a)	7		(55		)	(26		)	(124		)	(9		)	(39		)	(246		)
Fair value adjustments (a) (c)	13		54			78			49			80			73			347
Total Financial Services debt	26,055		21,941			11,398			7,178			8,038			10,139			84,749

Intersector elimination	—		(201		)	—			—			—			—			(201		)
Total Company	$	26,843	$	22,307		$	13,778		$	7,616		$	9,202		$	18,804		$	98,550

__________


(a)	Unamortized discount and fair value adjustments are presented based on contractual payment date of related debt.


(b)	Primarily non-U.S. affiliate debt and includes the EIB secured loan.


(c)	Adjustments related to designated fair value hedges of unsecured debt.

Schedule of liability and equity components of convertible notes [Table Text Block]

Liability, equity, and if-converted components of our Convertible Notes are summarized as follows (in millions):



							Total Effective Interest Rate
	June 30, 2011			December 31, 2010			June 30, 2011	December 31, 2010
Liability component
4.25% Debentures due December 15, 2016	$	768		$	768		9.2%	9.2%
4.25% Debentures due December 15, 2016 (underwriter option)	115			115			8.6%	8.6%
Subtotal Convertible Debt due December 15, 2016	$	883		$	883
4.25% Debentures due December 20, 2036	25			25			10.5%	10.5%
Unamortized discount	(186		)	(199		)
Net carrying amount	$	722		$	709

Equity component of outstanding debt (a)	$	(225	)	$	(225	)
Share value in excess of principal value, if converted (b)	$	438		$	732

__________


(a)	Recorded in Capital in excess of par value of stock.


(b)	Based on share price of $13.79 and $16.79 as of June 30, 2011 and December 31, 2010, respectively.

Schedule of interest cost on convertible notes [Table Text Block]

We recognized interest cost on our Convertible Notes as follows (in millions):



	Second Quarter				First Half
	2011		2010		2011		2010
Contractual interest coupon	$	10	$	37	$	19	$	73
Amortization of discount	7		23		13		45
Total interest cost on Convertible Notes	$	17	$	60	$	32	$	118

Assets And Liabilities Related To Secured Debt Arrangements [Table Text Block]

The following table shows the assets and liabilities related to our Financial Services sector's asset-backed debt arrangements that are included in our financial statements (in billions):



	June 30, 2011
	Cash and Cash Equivalents		Finance Receivables, Net and Net Investment in Operating Leases		Related Debt
VIEs (a)
Finance receivables	$	3.5	$	53.1	$	38.1
Net investment in operating leases	0.4		3.7		1.9
Total	$	3.9	$	56.8	$	40.0
Non-VIE
Finance receivables (b)	$	0.1	$	4.4	$	3.9
Total securitization transactions
Finance receivables	$	3.6	$	57.5	$	42.0
Net investment in operating leases	0.4		3.7		1.9
Total	$	4.0	$	61.2	$	43.9

	December 31, 2010
	Cash and Cash Equivalents		Finance Receivables, Net and Net Investment in Operating Leases		Related Debt
VIEs (a)
Finance receivables	$	3.3	$	50.5	$	37.2
Net investment in operating leases	0.8		6.1		3.0
Total	$	4.1	$	56.6	$	40.2
Non-VIE
Finance receivables (b)	$	0.2	$	4.1	$	3.7
Total securitization transactions
Finance receivables	$	3.5	$	54.6	$	40.9
Net investment in operating leases	0.8		6.1		3.0
Total	$	4.3	$	60.7	$	43.9

__________


(a)	Includes assets to be used to settle liabilities of the consolidated VIEs. See Note 8 for additional information on Financial Services sector VIEs.

(b)

Certain debt issued by the VIEs to affiliated companies served as collateral for accessing the ECB open market operations program. This external funding of $347 million and $334 million at June 30, 2011 and December 31, 2010, respectively was not reflected as a liability of the VIEs and is reflected as a non-VIE liability above. The finance receivables backing this external funding are reflected in VIE finance receivables.

Public Unsecured Debt Securities [Member]

Debt Instrument [Line Items]

Schedule of Debt [Table Text Block]

Our public unsecured debt securities outstanding were as follows (in millions):



	Aggregate Principal Amount Outstanding
Title of Security	June 30, 2011		December 31, 2010
6 1/2% Debentures due August 1, 2018	$	361	$	361
8 7/8% Debentures due January 15, 2022	86		86
6.55% Debentures due October 3, 2022 (a)	15		15
7 1/8% Debentures due November 15, 2025	209		209
7 1/2% Debentures due August 1, 2026	193		193
6 5/8% Debentures due February 15, 2028	104		104
6 5/8% Debentures due October 1, 2028 (b)	638		638
6 3/8% Debentures due February 1, 2029 (b)	260		260
5.95% Debentures due September 3, 2029 (a)	8		8
6.15% Debentures due June 3, 2030 (a)	10		10
7.45% GLOBLS due July 16, 2031 (b)	1,794		1,794
8.900% Debentures due January 15, 2032	151		151
9.95% Debentures due February 15, 2032	4		4
5.75% Debentures due April 2, 2035 (a)	40		40
7.50% Debentures due June 10, 2043 (c)	593		593
7.75% Debentures due June 15, 2043	73		73
7.40% Debentures due November 1, 2046	398		398
9.980% Debentures due February 15, 2047	181		181
7.70% Debentures due May 15, 2097	142		142
Total public unsecured debt securities (d)	$	5,260	$	5,260

__________


(a)	Unregistered industrial revenue bonds.


(b)	Listed on the Luxembourg Exchange and on the Singapore Exchange.


(c)	Listed on the New York Stock Exchange.


(d)	Excludes 9 1/2% Debentures due September 15, 2011 and 9.215% Debentures due September 15, 2021 with outstanding balances at

June 30, 2011 of $165 million and $180 million, respectively. The proceeds from these securities were on-lent by Ford to Ford Holdings to fund Financial Services activity and are reported as Financial Services debt.