-----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, etA1D46ltqDQDzbxMq02ZkKRrdOCV+YCKN+es07kSUb4bip6GdMH6SmssgHU/Fmg WWxGtx6+Bp0y0JsVv8uo4w== 0000037996-95-000020.txt : 199506290000037996-95-000020.hdr.sgml : 19950629 ACCESSION NUMBER: 0000037996-95-000020 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19941231 FILED AS OF DATE: 19950628 SROS: NYSE SROS: PSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: FORD MOTOR CO CENTRAL INDEX KEY: 0000037996 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLES & PASSENGER CAR BODIES [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: 95550141 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, 1994 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 and Schedules ---------------------------------- Statement of Net Assets Available for Plan Benefits, as of December 31, 1994 and 1993. Statement of Changes in Net Assets Available for Plan Benefits for the Year Ended December 31, 1994. Schedule I - Schedule of Assets Held for Investment Purposes as of December 31, 1994. Schedule II - Reportable Transactions for the Year Ended December 31, 1994. Exhibit ------- Designation Description Method of Filing - ----------- ----------- ---------------- Exhibit 23 Consent of Coopers Filed with this Report. & Lybrand L.L.P. 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/J. B. Ferguson J. B. Ferguson, Chairman Savings and Stock Investment Plan for Salaried Employees Committee June 27, 1995 11-k\ssip.94 EXHIBIT INDEX ------------- Sequential Page Number Designation Description at Which Found - ----------- ----------- --------------- Exhibit 23 Consent of Coopers & Lybrand L.L.P. 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 Net Assets Available for Plan Benefits as of December 31, 1994 and 1993 3 - 4 Statement of Changes in Net Assets Available for Plan Benefits for the year ended December 31, 1994 5 Notes to Financial Statements 6 - 12 Supplemental Schedules: Assets Held for Investment Purposes as of December 31, 1994 Schedule I Reportable Transactions for the year ended December 31, 1994 Schedule II Coopers Coopers & Lybrand L.L.P. & Lybrand a professional services firm Report of Independent Accountants To the Board of Directors of Ford Motor Company: We have audited the accompanying Statements of Net Assets Available for Plan Benefits of the Ford Motor Company Savings and Stock Investment Plan for Salaried Employees as of December 31, 1994 and 1993, and the related Statement of Changes in Net Assets Available for Plan Benefits for the year ended December 31, 1994. 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 amounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial status of the Ford Motor Company Savings and Stock Investment Plan for Salaried Employees as of December 31, 1994 and 1993, and the changes in its financial status for the year ended December 31, 1994, in conformity with generally accepted accounting principles. Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of the Ford Motor Savings and Stock Investment Plan for Salaried Employees as of December 31, 1994, 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 audits of the basic financial statements and, in our opinion, are fairly stated, in all material respects, in relation the basic financial statements taken as a whole. Detroit, Michigan June 2, 1995
Ford Motor Company Savings and Stock Investment Plan for Salaried Employees STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS AS OF DECEMBER 31, 1994 AND 1993 -------------------------------- (In Thousands) Ford Motor Co. Current Common Common Stock Interest Fund Stock Fund Bond Fund Income Funds Total -------------- ------------- ----------- ---------- ------------ ------ December 31, 1994 - ----------------- Assets: Participant Contributions Receivable $ 22,062 $ 1,030 $ 4,252 $ 387 $ 1,289 $ 29,020 Interest & Dividends Receivable 45 2,276 16 2,337 Interfund Receivable (Payable) 7,370 (3,947) (3,144) (334) 55 0 Loan Funds Receivable 113,384 113,384 Deposits with Insurance Companies Under Group Contracts 626,145 626,145 Investments at fair value (Schedule I) 3,568,373 347,258 715,807 40,804 4,672,242 ---------- ---------- ---------- ---------- ---------- ---------- Total Assets $3,597,850 $ 460,001 $ 716,931 $ 40,857 $ 627,489 $5,433,128 ========== ========== ========== ========== ========== ========== Liabilities and Plan Equity: Participant Loans Payable $ 1,032 $ 674 $ 332 $ 25 $ $ 2,063 ESOP Loan Payable 95,878 95,878 ESOP Loan Interest Payable 521 521 Forfeitures Payable 62 62 ---------- ---------- ---------- ---------- ---------- ---------- Total Liabilities $ 97,494 $ 674 $ 332 $ 25 $ 0 $ 98,524 ========== ========== ========== =========== ========== ========== Net Assets Available for Benefits $3,500,357 $ 459,327 $ 716,599 $ 40,832 $ 627,489 $5,344,604 ========== ========== ========== ========== ========== ========== The accompanying notes are an integral part of the financial statements.
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Ford Motor Company SAVINGS AND STOCK INVESTMENT PLAN FOR SALARIED EMPLOYEES -------------------------------------------------------- (In Thousands) Ford Motor Co. Current Common Common Stock Interest Fund Stock Fund Bond Fund Income Funds Total ------------- ------------- ----------- --------- ------------ ----- December 31, 1993 Assets: Participant Contributions Receivable $ 13,233 $ 1,100 $ 3,628 $ 272 $ 1,607 $ 19,840 Interest & Dividends Receivable 12 1,538 1,272 2,822 Interfund Receivable (Payable) 3,734 (7,813) (1,048) 64 5,063 0 Loan Funds Receivable 105,338 105,338 Deposits with Insurance Companies Under Group Contracts 774,281 774,281 Investments at fair value (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 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 ---------- ---------- ---------- ---------- --------- --------- Total Liabilities $ 145,400 $ 862 $ 528 $ 50 $ 0 $ 146,840 ========== ========== ========== ========= ======== ========== Net Assets Available for Benefits $3,673,379 $ 449,405 $ 693,253 $ 36,735 $780,951 $5,633,723 ========== ========== ========== ========= ======== ========== The accompanying notes are an integral part of the financial statements.
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Ford Motor Company Savings and Stock Investment Plan for Salaried Employees STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS FOR THE YEAR ENDED DECEMBER 31, 1994 ---------------------------------------------------------------- (In Thousands) Ford Motor Co. Current Common Common Stock Interest Fund Stock Fund Bond Fund Income Funds Total ----------- ------------- ---------- --------- ------------ ------ Investment Income: Interest $ 434 $ 20,893 $ 243 $ 2,707 $ 45,234 $ 69,511 Dividends 111,191 18,173 129,364 Contributions: Employee 40,937 2,922 10,809 843 4,084 59,595 Company on Behalf of Employees 109,852 11,240 48,293 4,558 16,053 189,996 Company Matching $ 118,416 118,416 ---------- ---------- ----------- --------- --------- --------- Total Additions $ 380,830 $ 35,055 $ 77,518 $ 8,108 $ 65,371 $ 566,882 ---------- ---------- ---------- ---------- ---------- ---------- Withdrawal of Participants' Accounts $ (184,927) $ (25,795) $ (31,088) $ (1,317) $ (69,212) $ (312,339) Net Depreciation in Fair Value of Investments (527,086) (4,966) (3,869) (535,921) Loan Funds Transferred (Out)/In (23,533) 33,120 (8,803) (784) 0 Net Transfers Between Funds 189,434 (32,458) (9,315) 1,959 (149,620) 0 Forfeited Company Matching (166) (166) Interest Expense (7,575) (7,575) ---------- ---------- ---------- ---------- ---------- --------- Total Deductions $ (553,853) $ (25,133) $ (54,172) $ (4,011) $ (218,832) $ (856,001) ---------- ---------- ---------- ----------- ---------- ---------- Net Increase/(Decrease) During the Year $ (173,023) $ 9,922 $ 23,346 $ 4,097 $ (153,461) $ (289,119) Net Assets Available for Benefits at Beginning of Year 3,673,379 449,405 693,253 36,735 780,951 5,633,723 --------- ---------- ---------- ---------- ---------- ---------- Net Assets Available for Benefits at End of Year $3,500,356 $ 459,327 $ 716,599 $ 40,832 $ 627,490 $5,344,604 ========== ========== ========== ========== ========== ==========
5 tms:ssip-se1.95 NOTES TO FINANCIAL STATEMENTS ----------------------------- 1. Summary of Significant 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, primarily guaranteed Insurance Contracts, are at cost as required by statement of position 94-4. Investments in the Current Interest Fund are carried at current 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 Changes in Net Assets Available for Plan Benefits 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. Certain amounts in the previously issued 1993 financial statements have been reclassified to conform with current year presentation. 2. Description of the Plan: ----------------------- The Plan became effective February 1, 1956. The following description of the Plan provides only general information. The provisions of the Plan are governed in all respects by the detailed terms and conditions contained in the Plan itself. Participants should refer to the Plan agreement for a complete description of the Plan's provisions. 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. 6 NOTES TO FINANCIAL STATEMENTS, Continued ----------------------------- 2. Description of the Plan, continued: ----------------------- 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 eli- gible to participate in the Plan. Participation in the Plan is voluntary. 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. During 1993, Company matching was at the rate of $.50 per dollar of par- ticipants' 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, and one transfer each month for qualifying Company matching 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 in each program in December 1994, are as follows: 7 NOTES TO FINANCIAL STATEMENTS, Continued ----------------------------- 2. Description of the Plan, continued: ----------------------- Regular Savings TESP ------- ------- 100 percent Company Stock 4,291 7,009 100 percent Common Stock Fund 729 1,732 100 percent Income Fund 350 846 100 percent Current Interest Fund 226 528 100 percent Bond Fund 2655 Combinations of Company Stock, Common Stock Fund, Income Fund, Current Interest Fund and Bond Fund in whole multiples of 10 percent 1,589 5,271 ------ ------ Contributing Participants at December 31, 1994 7,211 15,441 Non-contributing Participants 25,842 26,431 ------ ------ Total Participants 33,053 41,872 ====== ====== 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 Savings 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, 1994 and 1993, 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 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 1994 were placed with Prudential Insurance Company of America at an annual effective rate of 4.94%. The Income Fund in 1993 was placed with Lehman Government Securities, Inc. at an annual effective rate of 5.49%. The Income Fund in 1992 was placed with Prudential Insurance Company of America at an annual effective 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, 1994 assets in the Income Fund for 1991 were transferred to other investment programs including the Income Fund for 1994 based on participants' elections. Contributions to the Income Fund during 1995 will be placed with John Hancock Mutual Life Insurance Company at an annual effective interest rate of 8.07%. 8 NOTES TO FINANCIAL STATEMENTS, Continued ----------------------------- 2. Description of the Plan, continued: ----------------------- 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 or commingled funds holding these types of securities. The interest rate paid is variable. Average annual interest rates in 1994 and 1993 were 4.2% and 3.4%, respectively. The interest income reported on the Statement of Financial Condition for the Current Interest Fund for 1994 includes $7.0 million related to interest included in participants' loan repayments. 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. Units of the fund held by the Plan at December 31, 1994 and 1993 and their per unit value are shown in Note 6. A small portion of the fund is invested in short-term cash equivalents. Brokerage fees applicable to Common Stock Fund, the Bond Fund, and the Current Interest Fund are paid by the applicable fund. The Bond Fund advisor fees are paid by the Bond Fund. The Company pays all fees associated with the purchase and sale of Company Stock. 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, 1994, are set forth in Schedule I. 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". 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. 9 NOTES TO FINANCIAL STATEMENTS, Continued ----------------------------- 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 1994, forfeited shares having a market value of $336,938 were used to pay administrative expenses. To the extent that forfeited shares are not available to pay administrative expenses, the Company pays such expenses. 4. Net Appreciation (Depreciation) in Fair Value of Investments: ------------------------------------------------------------ The Plan's investments are held by a bank-administered trust fund. The Plan's investments in Company Stock and the Common Stock Fund (including investments bought, sold, as well as held during the period) depreciated $527,086,000 and $4,965,829, respectively, for the year ended December 31, 1994. The Plan's investment in the Bond Fund depreciated $3,869,332 for the year ended December 31, 1994. 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, 1994 and 1993, are as follows: December 31, 1994 December 31, 1993 ------------------- ---------------------- Number Asset Number Asset of Value of Value Units Per Unit Units Per Unit --------- -------- ------- --------- Common Stock Fund 28,468,302 $25.144 27,941,416 $24.692 6. Asset Value Per Bond Fund Unit: ------------------------------ The number of units and the asset value per unit in Bond Fund at December 31, 1994 and 1993, are as follows: December 31, 1994 December 31, 1993 ----------------------- --------------------- Number Asset Number Asset of Value of Value Units Per Unit Units Per Unit ---------- ---------- -------- ----------- Bond Fund 3,912,148 $10.43 3,384,290 $10.77 7. 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. 10 NOTES TO FINANCIAL STATEMENTS, Continued ----------------------------- 7. Employee Stock Ownership Plan, Continued ----------------------------- A loan totaling $178,119,318 was obtained in August 1993 from the Company. It is payable in eight equal quarterly installments beginning September 1, 1993. Additional loans were obtained in April 1994, payable in seven equal quarterly installments beginning June 1, 1994, and October 1994, payable in five equal quarterly installments beginning December 1, 1994 for $15,917,486 and $16,176,267, respectively. All loan proceeds were used to purchase shares of Company stock for distribution quarterly. All outstanding balances will be paid during 1995. 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 3,498,650 and 2,733,148 unallocated ESOP shares as of December 31, 1994 and 1993, respectively. Cash dividends earned on Company Stock held in the Plan generally are used to make quarterly loan payments. If 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 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 1994 and 1993:
1994 Loan 1993 Loan Activity in 1994 Activity in 1993 ---------------- ---------------- Cost of Shares Purchased With Loan Cash $32,093,755 $178,119,318 Shares Purchased With Loan Cash 1,114,720 3,416,436 Loan Principal Paid $79,370,651 $ 34,963,633 Loan Interest Paid and Accrued $ 8,297,919 $ 4,054,936
8. Tax Status: ---------- The Plan has received a favorable determination letter from the Internal Revenue Service that it is qualified under Section 401 of the Internal Revenue Code and that the related trust is tax-exempt under Section 501 of the Internal Revenue Code. Accordingly, the trust's net investment income is exempt from income taxes. The Plan sponsor believes that the Plan, as amended, continues to qualify and to operate as designed. 11 NOTES TO FINANCIAL STATEMENTS, Continued ----------------------------- 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. There are currently no plans to terminate the Plan. 10. Other ----- Differences between the data shown on pages 3 through 5 of this report and the 1994 Form 5500 filed with the Department of Labor are principally attributable to adjustments made by the plan administrator to conform the financial statements to the accrual basis of accounting. Included in the withdrawal of participant's accounts on the Form 5500 but not shown in the Statement of Net Assets Available for Plan Benefits is $22,683,169 of funds requested but not yet distributed to the employees as of December 31, 1994. 12
Schedule 1 Item 27a - Schedule of Assets Held for Investment Purposes Page 1 of 2 Ford Motor Company SAVINGS AND STOCK INVESTMENT PLAN FOR SALARIED EMPLOYEES AS OF DECEMBER 31, 1994 ------------------------------------------------------------------------------- (In Thousands) Description of Investment Including Maturity Identity of Issue, Lessor, Date, Rate of Interest Collateral, Par or Borrower, or Similar Party Maturity Value Cost Current Value - -------------------------- ------------------------------------------- --------- ---------------- Ford Motor Company* - ------------------ Ford Motor Company Common Stock - 127,974,397 Shares $ 2,232,935 $3,567,287 Comerica Bank, N.A. 180-Day Commercial Paper Interest Rate Variable 1,086 1,086 ---------- ---------- $2,234,021 $3,568,373 ========== ========== Current Interest Fund - --------------------- Bank of Nova Scotia C.P. $20,000,000 Par, 5.310%, 01/04/95 $ 14,124 $ 14,124 American Home Foods C.P. $25,000,000 Par, 5.9%, 01/23/95 17,718 17,718 Bank of Nova Scotia - CD $15,000,000 Par, 5.25%, 02/14/95 10,740 10,740 Sanwa Bank - CD $25,000,000 Par, 6.00%, 05/26/95 17,900 17,900 Transamerica Life GIC #79179 $10,000,000 Par, 6.26%, 08/02/95 7,160 7,160 First Union Bank Charl $10,000,000 Par, 9.400%, 01/10/95 7,171 7,160 Federal Home (Ln Mtg) $ 7,400,000 Par, 6.63%, 10/04/96 5,298 5,290 Federal Home (Ln Mtg) $10,000,000 Par, 5.03%, 02/04/97 7,160 7,146 Comerica Bank, N.A. 180-Day Commercial Paper Interest Rate Variable 260,020 260,020 -------- -------- $ 347,291 $ 347,258 Participant Loans 6% to 11% Interest Rate 113,384 ---------- ---------- Total $347,291 $460,642 ========== ========== Common Stock Fund - ----------------- Comerica Bank, N.A. Equity Index Funds - 28,468,302 Units $554,237 $715,807 ======== ========= Bond Fund - --------- Wells Fargo Institutional Trust Company Bond Index Fund - 3,912,148 Units $ 45,518 $ 40,804 ========= ======== Income Funds - ------------ The Prudential Insurance Company of America 06/30/97 Maturity - 4.94% Interest Rate 143,511 143,511 Lehman Government Securities, Inc. 07/01/96 Maturity - 5.49% Interest Rate 176,624 176,624 The Prudential Insurance Company of America 06/30/95 Maturity - 7.03% Interest Rate 306,010 306,010 -------- ------- Total $626,145 $626,145 ======== =======
- - - - - - *Party-in-interest tms:ssiprt.95
Schedule I Page 2 of 2 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 Composite Transactions listing as of the last trading day of 1994. 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, 1994, these plans held a total of 32,850,280 units in the Fund with each unit having a value of $25.144114. 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, 1994 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 including maturity date, rate of (a) Identify of issue, borrower, interest collateral, par or (d) Proceeds of lessor, or similar party maturity value (c) Costs of Acquisitions dispositions - -------------------------------- -------------------------------------- ------------------------- --------------- NOT APPLICABLE
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Schedule II Item 27d - Schedule of Reportable Transactions Ford Motor Company Savings and Stock Investment Plan for Hourly Employees REPORTABLE TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1994 ------------------------------------------------------------ Identity 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) - ----------------- ----------- ---------- --------- ------- --------- ------- ------------- ---------- I. Single Transaction in Excess of 5% of Current Value of Plan Assets II. Series of Transactions in Other Than Securities in Excess of 5% of Current Value of Plan Assets Prudential Asset Guaranteed $189,493,166 $189,493,166 $189,493,166 Management Group Investment Contract Prudential Asset Guaranteed Management Group Investment $167,291,107 $167,291,107 $167,291,107 Control III. Series of Transactions in Securities in Excess of 5% of Current Value of Plan Assets Footnote #1 Ford Motor $410,197,200 N/A N/A $152 $410,197,200 $410,197,220 N/A Common Stock Comerica Bank, N.A. Footnote #2 $2,424,796,1 N/A N/A 0 $2,424,796,136 $2,424,796,136 N/A Comerica Bank, N.A. Footnote #3 N/A $2,394,104,608 N/A 0 $2,301,426,095 $2,394,104,608 $92,678,513 IV. Single Transaction With a Non-Regulated Entity in Excess of 5% of Current Value of Plan Assets - None - - - - - - Footnotes: #1 Purchase of 13,966,906 shares of Ford Motor Company Common Stock #2 Purchases of Comerica Bank, N.A. Bank Collective Fund #3 Sales of Comerica Bank, N.A. Bank Collective Fund tms:ssiprt.95
EX-23 2 Exhibit A Consent of Independent Accountants Ford Motor Company The American Road Dearborn, Michigan Re: Ford Motor Company Registration Statement Nos. 33-54735, 33-54275, 33-50194, 33-36061, 33-14951 and 2-95020 on Form S-8 We consent to the incorporation by reference in the above Registration Statements of our report dated June 2, 1995 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, 1994 and 1993 and for the year ended December 31, 1994, which is included in this Annual Report on Form 11-K. /s/ COOPERS & LYBRAND L.L.P. 400 Renaissance Center Detroit, Michigan 48243 June 19, 1995 -----END PRIVACY-ENHANCED MESSAGE-----