-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, b56k6kx2dt1qy2WDSLiz8lTa/gTPE0PH6XZnz6TxFyuYwNxJuE44NUgsgTd1aDPS u7nuiI4vr3ZTKPqFlzVDew== 0000037996-94-000017.txt : 19940705 0000037996-94-000017.hdr.sgml : 19940705 ACCESSION NUMBER: 0000037996-94-000017 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19931231 FILED AS OF DATE: 19940628 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FORD MOTOR CO CENTRAL INDEX KEY: 0000037996 STANDARD INDUSTRIAL CLASSIFICATION: 3711 IRS NUMBER: 380549190 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03950 FILM NUMBER: 94536297 BUSINESS ADDRESS: STREET 1: THE AMERICAN RD CITY: DEARBORN STATE: MI ZIP: 48121 BUSINESS PHONE: 3133223000 11-K 1 SSIP 11-K SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 11-K (Mark One) X ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED] For the fiscal year ended December 31, 1993 OR TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] For the transition period from ________________ to ________________ Commission file number 1-3950 FORD MOTOR COMPANY SAVINGS AND STOCK INVESTMENT PLAN FOR SALARIED EMPLOYEES (Full title of the plan) FORD MOTOR COMPANY The American Road Dearborn, Michigan 48121 (Name of issuer of the securities held pursuant to the plan and the address of its principal executive office) Required Information Financial Statements Statement of Financial Condition, as of December 31, 1993 and 1992. Statement of Income and Changes in Plan Equity for the Year Ended December 31, 1993. Schedule I - Schedule of Assets Held for Investment Purposes as of December 31, 1993. Schedule II - Reportable Transactions for the Year Ended December 31, 1993. Exhibit - - ------- Designation Description Method of Filing - - ----------- ----------- ---------------- Exhibit 23 Consent of Coopers Filed with this & Lybrand Report Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the Ford Motor Company Savings and Stock Investment Plan for Salaried Employees Committee has duly caused this Annual Report to be signed by the undersigned thereunto duly authorized. SAVINGS AND STOCK INVESTMENT PLAN FOR SALARIED EMPLOYEES By: /s/P. T. Zachary P. T. Zachary, Chairman Savings and Stock Investment Plan for Salaried Employees Committee June 27, 1994 11-k\ssip.93 EXHIBIT INDEX Sequential Page Number Designation Description at Which Found Exhibit 23 Consent of Coopers & Lybrand FORD MOTOR COMPANY SAVINGS AND STOCK INVESTMENT PLAN FOR SALARIED EMPLOYEES INDEX OF FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES Pages Report of Independent Accountants 2 Financial Statements and Supplemental Schedules: Statement of Financial Condition as of December 31, 1993 3 Statement of Financial Condition as of December 31, 1992 4 Statement of Income and Changes in Plan Equity for the year ended December 31, 1993 5 Notes to Financial Statements 6 to 11 Supplemental Schedules: Assets held for investment purposes as of December 31, 1993 Schedule I Reportable transactions for the year ended December 31, 1993 Schedule II REPORT OF INDEPENDENT ACCOUNTANTS To the Board of Directors of Ford Motor Company: We have audited the accompanying financial statements of the Ford Motor Company Savings and Stock Investment Plan for Salaried Employees as listed in the accompanying index on page 1. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial condition of the Ford Motor Company Savings and Stock Investment Plan for Salaried Employees at December 31, 1993 and 1992, and the income and changes in plan equity for the period ended December 31, 1993, in conformity with generally accepted accounting principles. Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of the Ford Motor Company Savings and Stock Investment Plan for Salaried Employees at December 31, 1993, are presented for the purpose of additional analysis and are not a required part of the basic financial statements, but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974, as amended. The supplemental schedules have been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, are fairly stated, in all material respects, in relation to the basic financial statements taken as a whole. /s/COOPERS & LYBRAND 400 Renaissance Center Detroit, Michigan June 10, 1993
Ford Motor Company Savings and Stock Investment Plan for Salaried Employees STATEMENT OF FINANCIAL CONDITION AS OF DECEMBER 31, 1993 -------------------------------------------------------- (In Thousands) Ford Motor Co. Current Common Common Stock Interest Fund Stock Fund Bond Fund Income Fund Total ------------- ------------- ---------- --------- ----------- ------ December 31, 1993 - - ----------------- Assets: Participant Contributions Receivable $ 9,258 $ 1,101 $ 3,628 $ 271 $ 1,608 $ 15,866 Company Contributions Receivable 3,974 3,974 Interfund Receivable (Payable) 3,735 (7,814) (1,048) 65 5,062 0 Loan Funds Receivable 105,338 105,338 Interest and Dividends Receivable 12 1,538 1,272 2,822 Deposits w/Insurance Companies & Others Under Group Contracts (Schedule I) 774,281 774,281 Investments (Schedule I) 3,801,800 350,104 689,929 36,449 4,878,282 --------- ------- ------- ------ ------- --------- Total Assets $3,818,779 $ 450,267 $ 693,781 $ 36,785 $ 780,951 $5,780,563 ========== ========== ========== ========== ========== ========== Liabilities and Plan Equity: Participant Withdrawals Payable $ 20,437 $ 1,097 $ 2,238 $ 37 $ 5,486 $ 29,295 Participant Loans Payable 1,377 862 528 50 2,817 ESOP Loan Payable 143,156 143,156 ESOP Loan Interest Payable 740 740 Forfeitures Payable 127 127 Plan Equity, End of Year 3,652,942 448,308 691,015 36,698 775,465 5,604,428 ---------- ----------- ---------- ---------- ---------- ----------- Total Liabilities and Plan Equity $3,818,779 $ 450,267 $ 693,781 $ 36,785 $ 780,951 $5,780,563 ========== ========== ========== ========== ========== ==========
The accompanying notes are an integral part of the financial statements. -3- finalss.93a
Ford Motor Company Savings and Stock Investment Plan for Salaried Employees STATEMENT OF FINANCIAL CONDITION AS OF DECEMBER 31, 1992 -------------------------------------------------------- (In Thousands) Ford Motor Co. Current Common Common Stock Interest Fund Stock Fund Bond Fund Income Fund Total ------------ ------------- ---------- --------- ----------- ----- December 31, 1992 Assets: Participant Contributions Receivable $ 9,572 $ 1,011 $ 3,358 $ $ 2,229 $ 16,170 Company Contributions Receivable 3,990 3,990 Interfund Receivable (Payable) 7,949 (16,338) 26 8,363 0 Loan Funds Receivable 93,934 93,934 Interest and Dividends Receivable 17 1,423 1,196 2,636 Deposits w/Insurance Companies & Others Under Group Contracts (Schedule I) 782,359 782,359 Investments (Schedule I) 2,616,336 275,547 576,181 3,468,064 --------- ------- ------- ------- ---------- ---------- Total Assets $2,637,864 $ 355,577 $ 580,761 $ $ 792,951 $4,367,153 ========== ========== ========== ========= ========== ========== Liabilities and Plan Equity: Participant Withdrawals Payable $ 9,904 $ 591 $ 2,503 $ $ 3,956 $ 16,954 Participant Loans Payable 967 668 335 1,970 ESOP Loan Payable 37,874 37,874 ESOP Loan Interest Payable 260 260 Forfeitures Payable 123 123 Plan Equity, End of Year 2,588,736 354,318 577,923 788,995 4,309,972 --------- --------- --------- ---------- ---------- --------- Total Liabilities and Plan Equity $2,637,864 $ 355,577 $ 580,761 $ $ 792,951 $4,367,153 ========== ========== ========== ============ ========== ==========
The accompanying notes are an integral part of the financial statements. -4- finalss.92a
Ford Motor Company Savings and Stock Investment Plan for Salaried Employees STATEMENT OF INCOME AND CHANGES IN PLAN EQUITY FOR THE YEAR ENDED DECEMBER 31, 1993 --------------------------------------------------- (In Thousands) Ford Motor Co. Current Common Common Stock Interest Fund Stock Fund Bond Fund Income Fund Total ------------- ------------- ---------- --------- ----------- ----- Investment Income: Interest $ 60 $ 16,905 $ 362 $ 1,405 $ 56,402 $ 75,134 Dividends 96,826 14,886 111,712 Net Appreciation/(Depreciation) in Fair Value of Investments 1,303,554 65,236 (269) 1,368,521 Contributions: Employee 38,502 2,962 10,057 394 5,253 57,168 Company on Behalf of Employees 85,650 10,461 37,780 2,185 19,635 155,711 Company Matching 48,813 48,813 Withdrawal of Participants' Accounts (216,702) (28,749) (29,117) (1,012) (58,583) (334,163) Loan Funds Transferred (Out)/In (26,030) 35,809 (9,378) (401) 0 Net Transfers Between Funds (139,478) 67,931 47,020 35,088 (10,561) 0 Forfeited Company Matching (386) (386) ESOP Loan Interest Expense (4,943) (4,943) --------- --------- ------- -------- -------- --------- Net Increase/(Decrease) in Plan Equity for the Year $1,185,866 $ 105,319 $ 136,846 $ 37,390 $ 12,146 $1,477,567 Transfer to Fidelity Investments - FMCC (119,361) (11,076) (23,380) (689) (25,387) (179,893) Transfer to Fidelity Investments - FNHCC (2,299) (253) (374) (3) (289) (3,218) Plan Equity, Beginning of Year 2,588,736 354,318 577,923 0 788,995 4,309,972 ---------- ---------- -------- -------- --------- ---------- Plan Equity, End of Year $3,652,942 $ 448,308 $ 691,015 $ 36,698 $ 775,465 $5,604,428 ========== ========== ========== ========== ========== ========== The accompanying notes are an integral part of the financial statements.
5 finalss.93i NOTES TO FINANCIAL STATEMENTS 1. Accounting Policies: ------------------- Investments - - ----------- The investment in Ford Motor Company Common Stock (Company Stock) and interests in the Common Stock Fund and the Bond Fund are valued on the basis of established year-end market prices. Investments in the Income Fund are at cost which approximates market. Investments in the Current Interest Fund are carried at par value, as it is the intent of the Plan to hold investments to maturity. Contributions - - ------------- Contributions to the Ford Motor Company Savings and Stock Investment Plan for Salaried Employees (the Plan) from employees and from Ford Motor Company (the Company) and participating subsidiaries (as defined in the Plan) are recorded in the period that payroll deductions are made from Plan participants. Other - - ----- Purchases and sales of securities are reflected on a trade-date basis. Gains and losses on sales of securities are based on average cost. Dividend income is recorded on the ex-dividend date; income from other investments is recorded as earned. The Plan presents in the statement of income and changes in plan equity the net appreciation(depreciation) in the fair value of its investments which consists of the realized gains or losses and the unrealized appreciation(depreciation) on those investments. 2. Description of the Plan: ----------------------- The Plan became effective February 1, 1956. Following is a brief description of the Plan. The provisions of the Plan are governed in all respects by the detailed terms and conditions contained in the Plan itself. Type and Purpose of the Plan - - ---------------------------- The Plan is a defined contribution plan established to encourage and facilitate systematic savings and investment by eligible salaried employees and to provide them with an opportunity to become stockholders of the Company. The Plan includes provisions for voting shares of Company Stock. Eligibility - - ----------- With certain exceptions, regular full-time salaried employees having at least twelve months of continuous service are eligible to participate in the Plan. Certain other part-time and temporary employees also may be eligible to participate in the Plan. Participation in the Plan is voluntary. Continued 6 NOTES TO FINANCIAL STATEMENTS, Continued -------------- 2. Description of the Plan, continued: ---------------------------------- Contributions - - ------------- The Plan has both a "Tax-Efficient Savings Program" (TESP) and a "Regular Savings" feature. Under the Plan and subject to limits required to be imposed by the Internal Revenue Code, participants may elect a reduction in base salary up to 15% with a corresponding TESP contribution in the same amount made to the Plan by the Company on their behalf. Participants may also elect reductions in their distributions under the Company's Profit Sharing Plan and Flexible Compensation Account program, with a contribution in an amount corresponding to each reduction made by the Company on their behalf to the Plan. Such contributions are excluded from the participants' taxable income. Subject to limitations imposed by the Internal Revenue Code, participants may also contribute up to 10% of their base salaries to the Regular Savings feature of the Plan on an after-tax basis. The investment programs are the same for all savings contributions. The Company matching provision of the Plan was suspended from April 1, 1991 through June 30, 1992. Effective July 1, 1992 Company matching was reinstated at the rate of $.50 per dollar of participants' TESP and/or Regular Savings contributions up to 5% of their base salaries. Effective January 1, 1994, the Company began matching at the rate of $.60 for each dollar of TESP and/or Regular Savings contributions up to 10% of participants' base salaries. All Company matching contributions are invested in shares of Company Stock. Contributions to TESP of amounts from the Profit Sharing Plan and Flexible Compensation Account are not matched. Transfer of Assets - - ------------------ The Plan permits the transfer of assets among investment elections, with certain restrictions related to transfers from the Income Fund. One transfer each month for TESP assets and one transfer each month for Regular Savings assets are permitted. Investment Programs and Participation - - ------------------------------------- Participant contributions are invested in accordance with the participant's election in one or more of several investment programs. The types of investment programs, and the number of participants contributing to each program in December 1993, are as follows: Regular Savings TESP ------- ------ 100 percent Company Stock 8,847 10,689 100 percent Common Stock Fund 1,421 2,670 100 percent Income Fund 849 1,531 100 percent Current Interest Fund 734 945 100 percent Bond Fund 60 107 Combinations of Company Stock, Common Stock Fund, Income Fund, Current Interest Fund and Bond Fund in whole multiples of 10 percent 3,153 8,913 ----- ----- Participants at December 31, 1993 15,064 24,855 ====== ====== At December 31, 1993, approximately 52,000 participants held assets in the Plan. Continued 7 NOTES TO FINANCIAL STATEMENTS, Continued ----------------- 2. Description of the Plan, continued: ---------------------------------- Participants may elect to contribute to a Common Stock Fund, a commingled index fund. The objective of the fund is to provide investment results that closely correspond to the price and yield performance of the publicly traded common stocks (i) of the 500 corporations included in Standard and Poor's 500 Index and (ii) of the corporations having capitalizations of at least $100 million as publicly reported from time to time and not included in the Standard and Poor's 500 Index. Assets of the fund are allocated between the Plan and the Tax-Efficient Plan for Hourly Employees (TESPHE) in proportion to the number of units each plan holds in the fund. Units of the fund held by the Plan at December 31, 1993 and 1992, and their per unit value, are shown in Note 5. A small portion of the fund is invested in short-term cash equivalents. Participants may elect to contribute to an Income Fund placed with an insurance company or other organization. The insurance company or other organization agrees to repay the principal and a stipulated rate of interest over a specified time period. Contributions to the Income Fund in 1993 were placed with Lehman Government Securities, Inc. at an annual effective interest rate of 5.49%. The Income Fund in 1992 was placed with Prudential Insurance Company of America (Prudential) at an annual effective interest rate of 7.03% The Income Fund in 1991 was placed two-thirds with Prudential and one-third with Metropolitan Life Insurance Company at an annual effective interest rate of 8.3%. Effective June 30, 1993 assets in the Income Fund for 1991 were transferred to other investment programs including the Income Fund for 1993 based on participants' elections. Contributions to the Income Fund during 1994 will be placed with Prudential at an annual effective interest rate of 4.94%. Participants may elect to contribute to a Current Interest Fund. Assets in this fund are pooled with those of TESPHE. The objective of the fund is maximization of current income consistent with the preservation of capital. Investments are made in debt obligations consisting of marketable securities, domestic bank certificates of deposit, bankers acceptances and high grade commercial paper and other money market obligations. The interest rate paid is variable. Average annual interest rates in 1993 and 1992 were 3.4% and 4.3%, respectively. The interest income reported on the Statement of Financial Condition for the Current Interest Fund for 1993 includes $6.5 million related to interest included in participants' loan repayments. Effective January 1, 1993, participants may elect to contribute to a Bond Fund. The objective of the fund is to provide investment results that closely correspond to the price and yield performance of the Lehman Brothers Aggregate Index. The fund will be invested in a portfolio of the Treasury notes and bonds, corporate notes and bonds and mortgage- backed securities and other securities that, in the aggregate, typify the securities that are included in the Lehman Brothers Aggregate Index. At December 31, 1993, the fund held 3,384,290 units having a unit value of $10.77. A small portion of the fund is invested in short-term cash equivalents. Brokerage fees applicable to Common Stock Fund investments are paid from funds in the Common Stock Fund. The Bond Fund advisor fees are paid from funds in the Bond Fund. The Company pays all fees associated with the purchase and sale of Company Stock and shares of Company Stock forfeited from participants' accounts are used to pay such fees to the extent such shares are available. Investment details as of December 31, 1993, are set forth in Schedule I. Continued 8 NOTES TO FINANCIAL STATEMENTS, Continued ------------------ 2. Description of the Plan, continued: ---------------------------------- Vesting and Distributions - - ------------------------- Regular Savings assets, TESP assets, and assets resulting from Company matching contributions (Company Stock and related dividend earnings) are accumulated in annual "classes". Effective January 1, 1989, Company matching contributions vest after five years of Plan service. Upon completion of five years of service, all assets attributable to Company matching contributions held in participants' accounts and all future contributions vest when made. TESP assets may not be withdrawn by participants until the termination of their employment or until they reach age 59-1/2, except in the case of personal financial hardship. Participants may borrow from their TESP accounts within the limits imposed by the Plan. Monthly loan interest rates are based on the prime rate published in The Wall Street Journal on the last Tuesday of the preceding month. 3. Forfeitures: ------------ The Plan permits the Company to use the value of Company Stock forfeited from participants' accounts to pay Plan administration expenses and, to the extent not used to pay such expenses, to reduce the Company's contributions to the Plan. During 1993, forfeited shares having a market value of $567,000 were used to pay administrative expenses. To the extent that forfeited shares are not available to pay administrative expenses, the Company pays such expenses directly. 4. Net Appreciation (Depreciation) in Fair Value of Investments: ------------------------------------------------------------ The Plan's investments in Company Stock and the Common Stock Fund (including investments bought, sold, as well as held during the period) appreciated $1,303,554,000 and $65,236,000, respectively, for the year ended December 31, 1993. In addition, the Plan's investment in the Bond Fund depreciated $269,000 for the year ended December 31, 1993. 5. Asset Value Per Common Stock Fund Unit: --------------------------------------- The number of units, and the asset value per unit, in the Common Stock Fund at December 31, 1993 and 1992, are as follows:
December 31, 1993 December 31, 1992 ------------------------- ------------------------- Number Asset Number Asset of Value of Value Units Per Unit Units Per Unit ----- -------- ------ --------- Common Stock Fund 27,992,934 $24.692 26,565,601 $21.734
Continued 9 NOTES TO FINANCIAL STATEMENTS, Continued ------------------ 6. Employee Stock Ownership Plan: ----------------------------- Effective January 1, 1989, the Company, by action of the Board of Directors, established within the Plan an Employee Stock Ownership Plan (ESOP). All shares of Company Stock in the Plan at any time, including all shares allocated to participants' accounts, shares held in an ESOP suspense account (described below), and forfeited shares are included in the ESOP, along with other assets attributable to post-1988 contributions to the Plan. In 1991, the trustee of the ESOP borrowed from the Company an amount not exceeding the estimated amount of dividends to be received on Company Stock held by the Plan over a twenty-four month period beginning in August, the month the loan originated. The loan proceeds were used to purchase shares of Company Stock at the date of the loan, for distribution quarterly over the next two years. The loan is payable in eight quarterly installments beginning in September 1991. A new loan totaling $178,119,318 was taken in August 1993 that is payable in equal quarterly installments over a twenty-four month period beginning September 1, 1993. The Company Stock shares are held in a suspense account within the Plan until quarterly loan payments are made. A percentage of shares equivalent to the percentage of principal and interest paid down by the quarterly payment are released for distribution when each quarterly payment is made. The Company purchases additional shares to the extent that shares released from the suspense account are not adequate to satisfy the requirement for dividend shares allocated to participants' accounts. The Plan held 2,733,148 and 1,070,378 unallocated ESOP shares at year-end, 1993 and 1992, respectively. Dividends earned on Company Stock held in the Plan generally are used to make quarterly loan payments. If dividend cash is not available to make the full payment, the trustee may sell shares held in the suspense account or the Company, at its option, may elect to make additional contributions to the Plan. If dividend cash exceeds the loan payment amounts, the cash is used to reduce the Company's contribution for additional share requirements. The following highlights certain ESOP activity for 1993: 1993 Loan 1991 Loan Activity Activity in 1993 in 1993 --------- ------------ Cost of Shares Purchased With Loan Cash $178,119,318 - Shares Purchased With Loan Cash 3,416,436 - Loan Principal Paid $34,963,633 $ 37,874,285 Loan Interest Paid and Accrued $ 4,054,936 $ 888,201 Continued 10 NOTES TO FINANCIAL STATEMENTS, Continued ------------ 7. Partial Plan Transfer: --------------------- Effective July 1, 1993, Ford Motor Credit Company and The American Road Insurance Company (collectively "FMCC") participants in the Plan moved their assets to a new savings plan administered by Fidelity Management Trust Company ("Fidelity"). Effective October 31, 1993, Ford New Holland Credit Company ("FNHCC") participants in the Plan moved their assets to a new savings plan with Fidelity. 8. Tax Status: ---------- In connection with the adoption of the Plan in 1956 and in connection with each significant amendment to the Plan, the Internal Revenue Service (IRS) has issued a determination letter holding that the Plan meets the requirements of Section 401(a) of the Internal Revenue Code and that the trust established thereunder is entitled to exemption from Federal income tax under the provisions of Section 501(a) of the Code. The most recent determination of the Plan's tax qualified status was issued by the IRS on April 3, 1986 in connection with Plan amendments. 9. Plan Termination: ---------------- The Company, by action of the Board of Directors, may terminate the Plan at any time. Termination of the Plan would not affect the rights of a participant as to (a) the continuance of investment, distribution or withdrawal of the securities, cash and cash value of the Common Stock Fund units and Bond Fund units in the account of the participant as of the effective date of such termination, or (b) continuance of vesting of such securities and cash attributable to Company matching contributions or earnings thereon. 11
Item 27a - Schedule of Assets Held for Investment Purposes Schedule I Ford Motor Company Page 1 of 2 SAVINGS AND STOCK INVESTMENT PLAN FOR SALARIED EMPLOYEES AS DECEMBER 31, 1993 Description of Investment Including Identity of Issue, Lessor, Maturity Date, Rate of Interest, Current Borrower, or Similar Party Collateral, Par or Maturity Value Cost Value - - ------------------------------- --------------------------------------- --------- ------ (000) (000) Ford Motor Company Common Stock - - ------------------------------- Ford Motor Company* Ford Motor Company Common Stock 58,930,237 Shares $1,890,206 $3,801,000 Comerica Bank, N.A. 180-Day Commercial Paper Interest Rate Variable 812 812 ---------- ---------- $1,891,018 $3,801,812 ========== ========== Current Interest Fund Society National - Note $ 8,000,000 Par, 3.45%, 01/14/94 $ 5,776 $ 5,776 General Electric Capital Corp. - Note $25,000,000 Par, 3.3%, 05/18/94 18,092 18,084 American Express Centurion Bank - Note $10,000,000 Par, 3.71, 06/10/94 7,277 7,267 IBM Credit Corp. - Note $ 5,000,000 Par, 4.09%, 09/23/94 3,644 3,637 Old Kent Bank and Trust - Note $10,000,000 Par, 3,375%, 10/24/94 7,211 7,211 Household Financial Corp. - Note $30,000,000 Par, 3.4375%,11/08/94 21,610 20,845 Transamerica Life GIC #79176 $10,000,000 Par, 3,55%, 08/02/94 7,189 7,189 Beta Financial Private Placement $25,000,000 Par, 3.13%, 05/17/94 17,988 17,988 Federal Farm Credit Banks $10,000,000 Par, 3.21%, 03/01/94 7,186 7,186 Federal Farm Credit Banks $25,000,000 Par, 3.31%, 05/02/94 18,016 18,016 Canadian Imperial Bank - CD $15,000,000 Par, 3.35%, 03/14/94 10,791 10,791 Bank of Nova Scotia - CD $15,000,000 Par, 3.25%, 04/19/94 10,820 10,820 Bank of Nova Scotia - CD $10,000,000 Par, 3.6%, 07/21/94 7,285 7,285 Pittsburg National Bank - CD $20,000,000 Par, 3.75%, 08/02/94 14,563 14,561 Bank of Nova Scotia - Commercial Paper $10,000,000 Par, 3.15%, 01/21/94 7,154 7,154 Pacific Dunlop - Commercial Paper $19,200,000 Par, 3.3%, 03/01/94 13,686 13,686 Comerica Bank, N.A. 180-Day Commercial Paper Interest Rate Variable 173,354 173,354 ------- ------- Total $351,642 $350,850 ======== ======== Common Stock Fund Comerica Bank, N.A. Equity Index Funds 27,992,934 Units $445,768 $691,201 ======== ========
Item 27a - Schedule of Assets Held for Investment Purposes Schedule I Ford Motor Company Page 2 of 2 SAVINGS AND STOCK INVESTMENT PLAN FOR SALARIED EMPLOYEES AS OF DECEMBER 31, 1993 - - -------------------------------------------------------------------------------- Description of Investment Including Identity of Issue, Lessor, Maturity Date, Rate of Interest, Current Borrower, or Similar Party Collateral, Par of Maturity Value Cost Value - - ------------------------------- -------------------------------------- --------- -------- (000) (000) Bond Fund - - --------- Wells Fargo Institutional Trust Company Bond Fund Index 3,384,290 Units $ 36,719 $36,449 Income Funds Lehman Government Securities, Inc. 06/30/96 Maturity - 5.49% Interest Rate $177,414 $177,414 The Prudential Insurance Company of America 06/30/95 Maturity - 7.03% Interest Rate 311,121 311,121 The Prudential Insurance Company of America 06/30/94 Maturity - 8.30% Interest Rate 190,497 190,497 Metropolitan Life Insurance Company 06/30/94 Maturity - 8.30% Interest Rate 95,249 95,249 --------- -------- Total $774,281 $774,281 ========= ========
- - - - - - - *Party-in-Interest Notes to Schedule I: - - -------------------- The market value of Ford Motor Company Common Stock is based upon the closing price reported in the New York Stock Exchange Transactions listing as of the last trading day of 1993. Market values also include interest and dividends receivable. Plans holding assets in the Common Stock Fund are: the Ford Motor Company Savings and Stock Investment Plan for Salaried Employees and the Tax-Efficient Savings Plan for Hourly Employees. At December 31, 1993, these plans held a total of 31,824,147 units in the Fund with each unit having a value of $24.692. The assets held by the Fund were allocated to each of the plans in proportion to the number of units each plan held in the Fund. Units held by the plans at December 31, 1993 are shown in the Notes to Financial Statements for each of the plans.
Item 27a - Schedule of Assets Held for Investment Which Were Both Acquired and Disposed of in the Same Plan Year - - ---------------------------------------------------------------------------------------------------------------- (b) Description of Investment Including (a) Identity of Issue, Lessor Maturity Date, Rate of Interest, (c) Costs of (d) Proceeds of Borrower, or Similar Party Collateral, Par of Maturity Value Acquisitions Dispositions -------------------------- ----------------------------------- ------------ ------------ NOT APPLICABLE
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Item 27d - Schedule of Reportable Transactions Schedule II Ford Motor Company Savings and Stock Investment Plan for Salaried Employees REPORTABLE TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1993 ------------------------------------------------------------ Identify of Description Purchase Selling Lease Expenses Cost of Current Value Net Gain Party Involved of Asset Price Price Rental Incurred Asset of Asset or (Loss) - - -------------- ----------- -------- ------- ------ -------- ------- ------------- --------- Single Transaction in Excess of 5% of Current Value of Plan Assets - None - - ------------------------------------------------------------------------- Series of Transactions in Securities in Excess of 5% of Current Value of Plan Assets - - ------------------------------------------------------------------------------------ Footnote #1 Ford Motor Company Common Stock $234,229,712 N/A $1,460 $234,231,132 $234,231,132 N/A Comerica Bank, N.A.Footnote #2 920,521,442 N/A N/A 0 920,521,442 920,521,442 N/A Comerica Bank, N.A.Footnote #3 N/A $920,132,435 N/A 0 920,132,435 920,132,435 $ 0 Series of Transactions in Other Than Securities in Excess of 5% of Current Value of Plan Assets - None - - ------------------------------------------------------------------------------------------------------ Single Transaction With a Non-Regulated Entity in Excess of 5% of Current Value of Plan Assets - None - - ----------------------------------------------------------------------------------------------------- Footnotes: - - --------- #1 Purchase of 4,574,601 shares of Ford Motor Company Common Stock. #2 Purchases of Comerica Bank, N.A. Short-Term Fund (Bank Collective Fund). #3 Sales of Comerica Bank, N.A. Short-Term Fund (Bank Collective Fund).
rt.rcm EX-23 2 EXHIBIT 23 Exhibit 23 Consent of Independent Accountants Ford Motor Company The American Road Dearborn, Michigan Re: Ford Motor Company Registration Statement Nos. 33-50194, 33-14951, 33-36061 and 2-95020 on Form S-8 We consent to the incorporation by reference in the above Registration Statements of our report dated June 10, 1994 to the Board of Directors of Ford Motor Company with respect to the financial statements of the Ford Motor Company Savings and Stock Investment Plan for Salaried Employees at December 31, 1993 and 1992 and for the period ended December 31, 1993, which is included in this Annual Report on Form 11-K. /s/COOPERS & LYBRAND 400 Renaissance Center Detroit, Michigan 48243 June 24, 1993 -----END PRIVACY-ENHANCED MESSAGE-----