The carrying value of our debt was as follows (in millions):



Automotive Sector	September 30, 2013			December 31, 2012
Debt payable within one year
Short-term	$	580		$	484
Long-term payable within one year
U.S. Department of Energy (“DOE”) Advanced Technology Vehicles Manufacturing (“ATVM”) Incentive Program	591			591
Other debt	142			311
Total debt payable within one year	1,313			1,386
Long-term debt payable after one year
Public unsecured debt securities (a)	6,797			5,420
Unamortized (discount)/premium	(149		)	(100		)
Convertible notes	908			908
Unamortized (discount)/premium	(119		)	(142		)
DOE ATVM Incentive Program	4,571			5,014
EIB Credit Facilities (b)	1,268			729
Other debt	1,231			1,048
Unamortized (discount)/premium	4			(7		)
Total long-term debt payable after one year	14,511			12,870
Total Automotive sector	$	15,824		$	14,256
Fair value of Automotive sector debt (c)	$	17,542		$	14,867
Financial Services Sector
Short-term debt
Asset-backed commercial paper	$	4,036		$	5,752
Other asset-backed short-term debt	1,320			3,762
Floating rate demand notes	5,352			4,890
Commercial paper	2,067			1,686
Other short-term debt	1,871			1,655
Total short-term debt	14,646			17,745
Long-term debt
Unsecured debt
Notes payable within one year	5,743			5,830
Notes payable after one year	36,697			32,503
Asset-backed debt
Notes payable within one year	16,729			13,801
Notes payable after one year	20,831			20,266
Unamortized (discount)/premium	(107		)	(134		)
Fair value adjustments (d)	259			791
Total long-term debt	80,152			73,057
Total Financial Services sector	$	94,798		$	90,802
Fair value of Financial Services sector debt (c)	$	98,018		$	94,578
Total Company	$	110,622		$	105,058

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(a)	Public unsecured debt securities at September 30, 2013 increased by about $1.4 billion from December 31, 2012, primarily reflecting the issuance of $2 billion of 4.75% Notes due January 15, 2043, offset partially by the redemption of about $600 million of 7.50% Notes due June 10, 2043.


(b)	Includes EIB Credit Facilities debt due to the consolidation of Ford Romania, SA (“Ford Romania”) on January 1, 2013. See Note 18 for additional information.


(c)	The fair value of debt includes $374 million and $484 million of Automotive sector short-term debt and $9.3 billion and $8.4 billion of Financial Services sector short-term debt at September 30, 2013 and December 31, 2012, respectively, carried at cost which approximates fair value. All debt is categorized within Level 2 of the fair value hierarchy. See Note 3 for additional information.


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