-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FJGFzMhBTKrZJfMLhjesqCk6lvuww7sK5UZmh69tq+iDdJ+JuuB/XJ+ZhxiqH93Q UHZyzqLLzvWJR5zXvFmHKQ== 0000037996-97-000015.txt : 19970630 0000037996-97-000015.hdr.sgml : 19970630 ACCESSION NUMBER: 0000037996-97-000015 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19961231 FILED AS OF DATE: 19970627 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: 97631926 BUSINESS ADDRESS: STREET 1: THE AMERICAN RD CITY: DEARBORN STATE: MI ZIP: 48121 BUSINESS PHONE: 3133223000 11-K 1 TESPHE SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 11-K (Mark One) ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES X EXCHANGE ACT OF 1934 [NO FEE REQUIRED] - ----- For the fiscal year ended December 31, 1996 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 TAX-EFFICIENT SAVINGS PLAN FOR HOURLY 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) -2- Required Information - -------------------- Financial Statements - -------------------- Statement of Net Assets Available for Plan Benefits, as of December 31, 1996 and 1995. Statement of Changes in Net Assets Available for Plan Benefits for the Year Ended December 31, 1996. Schedule I - Schedule of Assets Held for Investment Purposes as of December 31, 1996. Schedule II - Reportable Transactions for the Year Ended December 31, 1996. 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 Tax-Efficient Savings Plan for Hourly Employees Committee has duly caused this Annual Report to be signed by the undersigned thereunto duly authorized. TAX-EFFICIENT SAVINGS PLAN FOR HOURLY EMPLOYEES By: /s/Glen Anderson ------------------------------- Glen Anderson, Chairman Tax-Efficient Savings Plan for Hourly Employees Committee June 27, 1997 -3- EXHIBIT INDEX ------------- Sequential Page Number Designation Description at Which Found - ----------- ----------- -------------- Exhibit 23 Consent of Coopers & Lybrand L.L.P. Ford Motor Company Tax-Efficient Savings Plan for Hourly Employees Index of Financial Statements and Supplemental Schedules Pages Report of Independent Accountants ..............................................................................2 Financial Statements: Statement of Net Assets Available for Plan Benefits as of December 31, 1996 and 1995 ..............................................................................3 Statement of Changes in Net Assets Available for Plan Benefits for the Year Ended December 31, 1996 ..............................................................................4 Notes to Financial Statements ...........................................................................5-11 Supplemental Schedules: Item 27a - Schedule of Assets Held for Investment Purposes as of December 31, 1996 ..........................................................................12-13 Item 27d - Reportable Transactions for the Year Ended December 31, 1996 .............................................................................14 Report of Independent Accountants To the Board of Directors of Ford Motor Company: We have audited the accompanying statement of net assets available for plan benefits of the Ford Motor Company Tax-Efficient Savings Plan for Hourly Employees as of December 31, 1996 and 1995, and the related statement of changes in net assets available for plan benefits for the year ended December 31, 1996. 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 net assets available for benefits of the Plan as of December 31, 1996 and 1995, and the changes in net assets available for benefits for the year ended December 31, 1996, 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 Company Tax-Efficient Savings Plan for Hourly Employees as of December 31, 1996, 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. 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 to the basic financial statements taken as a whole. /s/ Coopers & Lybrand L.L.P. Detroit, Michigan June 6, 1997 Ford Motor Company Tax-Efficient Savings Plan for Hourly Employees Statement of Net Assets Available for Plan Benefits as of December 31, 1996 and 1995 ASSETS 1996 1995 ---------------- ---------------- Investments, at fair value $ 1,772,301,615 $ 1,334,529,915 Loan funds receivable 114,521,429 87,418,656 Deposits with insurance companies under group contracts 149,003,575 229,621,731 ----------------- ----------------- Total assets $ 2,035,826,619 $ 1,651,570,302 =============== ================== LIABILITIES AND PLAN EQUITY Employee stock ownership plan, loan payable $ 18,709,853 - Employee stock ownership plan, interest payable 131,725 - ----------------- ------------------ Total liabilities 18,841,578 - ----------------- ------------------ Net assets available for plan benefits $ 2,016,985,041 $ 1,651,570,302 ================== ================== The accompanying notes are an integral part of the financial statements.
Ford Motor Company Tax-Efficient Savings Plan for Hourly Employees Statement of Changes in Net Assets Available for Plan Benefits for the year ended December 31, 1996 Stable Ford Value Interest Common Stock Income Income Stock Income International Fund Fund Fund Fund Funds Funds -------------- ------------ -------------- ----------- ---------- ------------- Interest and dividend income $ 44,693,448 $11,261,455 $ 16,099,384 $ 330 $ 237,632 $ 605,855 Net appreciation (depreciation) in fair value of investments 91,737,712 (18,647) 31,748,078 518,805 684,288 Loan repayment (principal) 7,188,558 29,244,471 1,535,515 208,786 131,702 Loan repayment (interest) 1,628,495 5,031,750 334,795 43,919 31,401 Employee contributions 105,787,826 44,147,217 24,716,340 4,630,066 3,268,664 Withdrawl of participants' (36,960,679) (9,494,672) (17,987,108) (5,786,916) (458,797) (98,216) accounts Net transfers between funds (58,147,246) (82,384,939) 57,265,625 (11,574,823) 86,846 9,903,031 Loan funds transferred (out) in (35,384,771) (20,365,012) (6,856,415) (894,213) (413,249) Interest expense (2,187,477) ------------- ------------- -------------- ------------ ----------- -------------- Net increase (decrease) in plan equity for the year 118,355,866 (80,618,156) 113,417,680 34,116,904 4,373,044 14,113,476 Net assets available for plan benefits, beginning of year 897,282,096 229,621,731 225,375,380 162,450,288 13,357,818 2,789,574 ------------- ------------- -------------- ------------- ------------ -------------- Net assets available for plan benefits, end of year $1,015,637,962 $ 149,003,575 $ 338,793,060 $ 196,567,192 $ 17,730,862 $ 16,903,050 ============== ============= ============== ============= ============ ============== Growth Asset and Allocation Growth Income Loan Fund Fund Fund Fund Total ------------ ----------- ------------ ------------ ------------ Interest and dividend income $ 408,678 $ 8,623,356 $ 2,023,524 $ 83,953,662 Net appreciation (depreciation) in fair value of investments 173,151 2,797,312 3,405,284 131,045,983 Loan repayment (principal) 80,695 1,038,573 340,611 $ (39,768,911) - Loan repayment (interest) 14,574 223,310 77,769 7,386,013 Employee contributions 1,764,816 25,285,204 9,006,649 218,606,782 Withdrawl of participants' (130,788) (768,282) (414,174) (1,290,592) (73,390,224) accounts Net transfers between funds 2,589,759 52,351,852 29,909,895 - Loan funds transferred (out) in (158,902) (3,178,422) (911,292) 68,162,276 - Interest expense (2,187,477) ------------ ------------- ------------- ------------- ------------- Net increase (decrease) in plan equity for the year 4,741,983 86,372,903 43,438,266 27,102,773 365,414,739 Net assets available for plan benefits, beginning of year 1,427,409 24,903,611 6,943,739 87,418,656 1,651,570,302 ------------ ------------ ------------- ------------ ------------- Net assets available for plan benefits, end of year $ 6,169,392 $111,276,514 $ 50,382,005 $114,521,429 $2,016,985,041 ============ ============ ============= ============ ============== The accompanying notes are an integral part of the financial statements.
Ford Motor Company Tax-Efficient Savings Plan for Hourly Employees Notes to Financial Statements 1. Description of the Plan: The following description of the Ford Motor Company Tax-Efficient Savings Plan for Hourly Employees (the "Plan") provides only general information. The Plan was established effective January 1, 1985. The provisions of the Plan are governed in all respects by the detailed terms and conditions contained in the plan agreement. Participants should refer to the plan agreement for a complete description of the Plan's provisions. a. Type and Purpose of the Plan: The Plan is a defined contribution plan established to encourage and facilitate systematic savings and investment by eligible hourly employees of Ford Motor Company (the "Company") and to provide them with an opportunity to become stockholders of the Company. The Plan includes provisions for voting shares of Company stock. It is subject to certain provisions of the Employee Retirement Income Security Act of 1974 ("ERISA") applicable to defined contribution pension plans. b. Eligibility and Vesting: Hourly employees are eligible to participate in the Plan three months after their original date of hire. Certain other part-time and temporary employees may also be eligible to participate in the Plan. Participation in the Plan is voluntary. Employees vest 100 percent immediately in the Plan. c. Contributions: Under the Plan and subject to limits required to be imposed by the Internal Revenue Code, participants may elect to contribute up to 18 percent of their eligible wages. Participants may also elect reductions in their distributions under the Company's Profit Sharing Plan to be contributed to the Plan. Such contributions are excluded from participants' taxable income. d. Participant Accounts: Each participant's account is credited with the participant's contributions and an allocation of plan earnings. Allocations are based on participant earnings or account balances, as defined. Plan administrative expenses are paid by the Company and not charged to participants' accounts. The benefit to which a participant is entitled is the benefit that can be provided from the participant's account. e. Distributions: Plan assets may not be withdrawn by participants until the termination of their employment or until they reach 59-1/2, except in the case of personal financial hardship. 1. Description of the Plan, continued: f. 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 at December 31, 1996, are as follows: Participants Ford Stock Fund 54,039 Stable Value Income Fund 27,909 Interest Income Fund 36,232 Common Stock Fund 19,926 Other 46,714 Participants may elect to contribute to the Stable Value Income Fund which invests in contracts 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 Stable Value Income Fund in 1995 were placed with the John Hancock Mutual Life Insurance Company at an annual effective interest rate of 8.07 percent and mature on June 30, 1998. Contributions to the Stable Value Income Fund in 1994 were placed with the Prudential Insurance Company of America at an annual effective rate of 4.94 percent and mature on June 30, 1997. Effective June 30, 1996, assets in the Stable Value Income Fund for 1993 were transferred to other investment programs including the Interest Income Fund based on participants' elections. The Stable Value Income Fund was eliminated as an investment option for participant contributions effective January 1, 1996. Upon maturity of the underlying investment contracts, participants must transfer their assets to other investment programs. Details of investments held at December 31, 1996 are set forth in the Supplemental Schedule Item 27a - Schedule of Assets Held for Investment Purposes. g. Transfer of Assets: The Plan permits the transfer of assets among investment programs, with certain restrictions related to transfers to/from the Stable Value Income Fund. h. Loans: The Plan permits loans to participants with certain restrictions related to loans from the Stable Value Income Fund. Monthly loan interest rates are based on the prime rate published in The Wall Street Journal. 2. Summary of Significant Accounting Policies: a. Basis of Accounting: The financial statements of the Plan are prepared under the accrual method of accounting. 2. Summary of Significant Accounting Policies, continued: b. Investments: The investment in the Ford Stock Fund and the investments in all other funds except the Stable Value Income Fund are valued on the basis of established year-end market prices. Investments in the Stable Value Income Fund, primarily fixed rate insurance contracts, are stated at contract value, which approximates fair value. c. Contributions: Contributions to the Plan from employees are recorded in the period that payroll deductions are made from plan participants. d. Payment of Benefits: Benefits are recorded when paid. e. Use of Estimates in the Preparation of Financial Statements: The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of additions and deductions during the reporting period. Actual results could differ from those estimates. f. Risks and Uncertainties: The Plan's invested assets ultimately consist of stocks, bonds, fixed income securities, and other investment securities. Investment securities are exposed to various risks, such as interest rate, market and credit. Due to the level of risk, associated with certain investment securities and the level of uncertainty related to changes in the value of investment securities, it is at least reasonably possible that changes in risks in the near term would materially affect participants' account balances and the amounts reported in the statement of net assets available for plan benefits and the statement of changes in net assets available for plan benefits. g. Other: Purchases and sales of investment are reflected on a trade-date basis. Realized gains and losses on sales of investments are determined using specific identification. Dividend income is recorded on the ex-dividend date. Income from other investments is recorded as earned on an accrual basis. 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 Plan's net realized gains or losses and the unrealized appreciation (depreciation) on those investments. 2. Summary of Significant Accounting Policies, continued: g. Other, continued: The Ford Stock Fund, the Stable Value Income Fund, the Interest Income Fund and the Common Stock Fund, which each represent five percent or more of plan net assets at December 31, 1996 are presented separately in the statement of changes in net assets available for plan benefits. Other funds, which each represent less than five percent of plan net assets, are combined based on investment objective into the Income Funds, the International Funds, the Asset Allocation Funds, the Growth Funds and the Growth and Income Funds. Certain amounts in the previously issued 1995 financial statements have been reclassified to conform with the current year presentation. 3. 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 and shares held in an ESOP suspense account are included in the ESOP, along with other assets attributable to post-1988 contributions to the Plan. The Plan obtained loans from the Company to purchase shares of Company stock for quarterly distribution. Loans totaling $32,678,677 and $2,732,687 were obtained in January 1996 and July 1996, respectively. The January 1996 loan is payable in 8 equal quarterly installments of $4,447,750 beginning March 1, 1996. The loan obtained in July 1996 is payable in 6 equal quarterly installments of $483,132 beginning September 3, 1996. The Company 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 dividend payment is made. The trustee 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 627,518 unallocated ESOP shares as of December 31, 1996. There were no unallocated ESOP shares as of December 31, 1995. 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. 3. Employee Stock Ownership Plan, continued: The following highlights certain ESOP activity: 1996 Loan Activity ------------- Shares purchased with loan cash 1,226,718 Cost of shares purchased with loan cash $ 35,411,364 Loan principal paid 16,701,511 Loan interest paid and accrued 2,187,477 4. Asset Value Per Fund Unit: The number of units and the asset value per unit of the Plan's investments at December 31, 1996 are as follows: Asset Number Value of Units Per Unit ------------ -------- Stable Value Income Fund: John Hancock Mutual Life Insurance Company 68,740,922 $ 1.00 The Prudential Insurance Company of America 80,262,653 1.00 Interest Income Fund 338,793,060 1.00 T. Rowe Price Spectrum Growth Fund 108,045 15.13 Scudder International Fund 17,873 47.56 Vanguard Life Strategy Conservative Fund 18,256 12.14 T. Rowe Price Spectrum Income Fund 48,992 11.20 Scudder International Bond Fund 15,452 11.20 Vanguard Life Strategy Moderate Fund 43,943 12.97 T. Rowe Price New Horizons Fund 614,305 21.77 Scudder Global Fund 12,716 28.80 Vanguard Life Strategy Growth Fund 61,478 13.68 T. Rowe Price International Stock Fund 223,307 13.80 Scudder International Discovery Fund 28,035 19.95 Vanguard Index Trust 500 Fund 181,484 69.16 T. Rowe Price International Discovery Fund 10,662 16.22 Scudder Income Fund 47,717 13.15 Vanguard Index Trust Value Fund 57,752 17.02 T. Rowe Price New Asia Fund 252,572 9.26 4. Asset Value Per Fund Unit, continued: Asset Number Value of Units Per Unit ------------ -------- Scudder Growth and Income Fund 66,094 23.23 Vanguard Index Trust Growth Fund 92,055 16.91 T. Rowe Price High Yield Fund 113,309 8.34 Scudder Greater Europe Growth Fund 105,191 18.08 Vanguard Explorer Fund 14,499 53.83 T. Rowe Price New Era Fund 52,060 26.06 Scudder Japan Fund 22,834 8.33 Vanguard Trustees International Fund 17,007 27.54 T. Rowe Price Latin America Fund 148,484 8.26 Wells Fargo Bond Fund 973,996 12.81 Ford Stock Fund 98,319,261 10.33 Comerica Common Stock Fund 5,013,190 39.21 Fidelity Fund 97,267 24.70 Fidelity Puritan Fund 182,414 17.24 Fidelity Trend Fund 7,054 56.81 Fidelity Magellan Fund 304,730 80.65 Fidelity Contra Fund 785,316 42.15 Fidelity Equity Income Fund 122,701 42.83 Fidelity Growth Company 265,102 40.46 . Fidelity Investment Grade Bond Fund 100,112 7.12 Fidelity Growth and Income Portfolio 618,176 30.73 Fidelity Value Fund 114,170 51.54 Fidelity Government Securities Fund 55,651 9.69 Fidelity Retirement Growth Fund 153,542 17.29 Fidelity Overseas Fund 80,295 30.84 Fidelity Europe Fund 40,512 26.61 Fidelity Pacific Basin Fund 44,959 14.70 Fidelity Real Estate Investment Portfolio 106,831 18.03 Fidelity Balanced Fund 37,754 14.08 Fidelity International Growth and Income Fund 28,859 19.55 Fidelity Capital Appreciation Fund 46,693 17.64 Fidelity Canada Fund 9,424 17.62 Fidelity Utilities Fund 78,020 16.91 Fidelity Asset Manager Fund 121,937 16.47 Fidelity Worldwide Fund 75,892 15.39 Fidelity Stock Selector Fund 154,220 23.85 Fidelity Asset Manager Growth Fund 118,692 16.35 Fidelity Asset Manager Income Fund 50,635 11.61 Fidelity Dividend Growth Fund 481,959 20.09 Fidelity New Markets Income Fund 123,307 12.96 Fidelity Global Balanced Fund 7,586 13.36 Fidelity Small Capital Stock Fund 170,743 13.56 Fidelity Global Bond Fund 11,278 9.72 Notes to Financial Statements, Continued: 5. Tax Status: The Internal Revenue Service has determined and informed the Company by letter dated January 26, 1995, that the Plan and the related trust are designed in accordance with applicable sections of the Internal Revenue Code (the "Code"). The Plan has since been amended, however, the Plan sponsor believes that the Plan is currently designed and being operated in compliance with the Code. Therefore, no provision for income taxes has been included in the Plan's financial statements. 6. 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 the continuance of investment, distribution or withdrawal of the securities, cash and cash value of the Ford Stock Fund units in the account of the participant as of the effective date of such termination. There are currently no plans to terminate the Plan. 7. Other: Differences between the data shown on pages 3 and 4 of this report and the 1996 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.
Ford Motor Company Tax-Efficient Savings Plan for Hourly Employees Item 27a - Schedule of Assets Held for Investment Purposes as of December 31, 1996 (in thousands) (c) (b) Description of Investment, Identity of Issuer Including Maturity Date, (e) Lessor, Borrower Rate of Interest, Collateral, (d) Current (a) or Similar Party Par or Maturity Value Cost Value - --- ------------------------ -------------------------------------------------- ------------- ------------ The Prudential Insurance Company of America 6/30/97 Maturity, 4.94% interest rate $ 80,262,653 $ 80,262,653 John Hancock Mutual Life Insurance Company 6/30/98 Maturity, 8.07% interest rate 68,740,922 68,740,922 Fidelity Investments Interest Income Fund, 338,793,060 shares 338,793,060 338,793,060 Fidelity Investments T. Rowe Price Spectrum GrowthFund, 108,045 shares 1,620,592 1,634,725 Fidelity Investments Scudder International Fund, 17,873 shares 819,958 850,040 Fidelity Investments Vanguard Life Strategy Conservative Fund, 18,256 shares 219,816 221,634 Fidelity Investments T. Rowe Price Spectrum Income Fund, 48,992 shares 544,132 548,708 Fidelity Investments Scudder International Bond Fund, 15,452 shares 172,470 173,059 Fidelity Investments Vanguard Life Strategy Moderate Fund, 43,943 shares 549,268 569,946 Fidelity Investments T. Rowe Price New Horizons Fund, 614,305 shares 13,850,372 13,373,431 Fidelity Investments Scudder Global Fund, 12,716 shares 356,771 366,231 Fidelity Investments Vanguard Life Strategy Growth Fund, 61,478 shares 794,487 841,019 Fidelity Investments T. Rowe Price International Stock Fund, 223,307 shares 2,925,109 3,081,635 Fidelity Investments Scudder International Discovery Fund, 28,035 shares 549,696 559,298 Fidelity Investments Vanguard Index Trust 500 Fund, 181,484 shares 11,419,491 12,551,450 Fidelity Investments T. Rowe Price International Discovery Fund, 10,662 shares 169,833 172,937 Fidelity Investments Scudder Income Fund, 47,717 shares 636,051 627,474 Fidelity Investments Vanguard Index Trust Value Fund, 57,752 shares 925,270 982,934 Fidelity Investments T. Rowe Price New Asia Fund, 252,572 shares 2,245,555 2,338,812 Fidelity Investments Scudder Growth and Income Fund, 66,094 shares 1,459,871 1,535,368 Fidelity Investments Vanguard Index Trust Growth Fund I, 92,055 shares 1,431,017 1,556,643 Fidelity Investments T. Rowe Price High Yield Fund, 113,309 shares 928,889 944,998 Fidelity Investments Scudder Greater Europe Growth Fund, 105,191 shares 1,752,448 1,901,857 Fidelity Investments Vanguard Explorer Fund, 14,499 shares 788,768 780,507 Fidelity Investments T. Rowe Price New Era Fund, 52,060 shares 1,344,732 1,356,696 Fidelity Investments Scudder Japan Fund, 22,834 shares 214,347 190,206 Fidelity Investments Vanguard Trustees International Fund, 17,007 shares 530,671 468,361 Fidelity Investments T. Rowe Price Latin America Fund, 148,484 shares 1,177,979 1,226,481 Wells Fargo Institutional Trust Company Bond Fund, 973,996 shares 11,085,074 12,476,883 Ford Motor Company Ford Stock Fund, 98,319,261 shares 777,057,289 1,015,637,962 Comerica Bank, N. A. Common Stock Fund, 5,013,190 shares 119,619,978 196,567,192 Fidelity Investments Fidelity Fund, 97,267 shares 2,325,567 2,402,491 Fidelity Investments Fidelity Puritan Fund, 182,414 shares 3,140,434 3,144,812 Fidelity Investments Fidelity Trend Fund, 7,054 shares 408,875 400,724 Fidelity Investments Fidelity Magellan Fund, 304,730 shares 25,067,164 24,576,467 Fidelity Investments Fidelity Contra Fund, 785,316 shares 31,179,608 33,101,077 Fidelity Investments Fidelity Equity Income Fund, 122,701 shares 4,939,326 5,255,287 Fidelity Investments Fidelity Growth Company Fund, 265,102 shares 10,310,293 10,726,033 Fidelity Investments Fidelity Investment Grade Bond Fund, 100,112 shares 715,042 712,797 Fidelity Investments Fidelity Growth and Income Portfolio, 618,176 shares 17,798,039 18,996,537 Fidelity Investments Fidelity Value Fund, 114,170 shares 5,991,859 5,884,316 Fidelity Investments Fidelity Government Securities Fund, 55,651 shares 542,289 539,260 Fidelity Investments Fidelity Retirement Growth Fund, 153,542 shares 2,864,493 2,654,734
Ford Motor Company Tax-Efficient Savings Plan for Hourly Employees Item 27a - Schedule of Assets Held for Investment Purposes, Continued (in thousands) (c) (b) Description of Investment, Identity of Issuer Including Maturity Date, (e) Lessor, Borrower Rate of Interest, Collateral, (d) Current (a) or Similar Party Par or Maturity Value Cost Value - --- ------------------------ -------------------------------------------------- ------------- ------------ Fidelity Investments Fidelity Overseas Fund, 80,295 shares 2,425,616 2,476,289 Fidelity Investments Fidelity Europe Fund, 40,512 shares 1,030,008 1,078,024 Fidelity Investments Fidelity Pacific Basin Fund, 44,959 shares 686,614 660,898 Fidelity Investments Fidelity Real Estate Investment Portfolio Fund, 106,831 shares 1,708,147 1,926,160 Fidelity Investments Fidelity Balanced Fund, 37,754 shares 505,578 531,580 Fidelity Investments Fidelity International Growth and Income Fund, 28,859 shares 534,849 564,187 Fidelity Investments Fidelity Capital Appreciation Fund, 46,693 shares 830,836 823,671 Fidelity Investments Fidelity Canada Fund, 9,424 shares 188,528 166,050 Fidelity Investments Fidelity Utilities Fund, 78,020 shares 1,267,404 1,319,313 Fidelity Investments Fidelity Asset Manager Fund, 121,937 shares 1,975,657 2,008,302 Fidelity Investments Fidelity Worldwide Fund, 75,892 shares 1,099,606 1,167,978 Fidelity Investments Fidelity Stock Selection Fund, 154,220 shares 3,632,294 3,678,158 Fidelity Investments Fidelity Asset Manager Growth Fund, 118,692 shares 1,901,919 1,940,616 Fidelity Investments Fidelity Asset Manager Income Fund, 50,635 shares 586,247 587,875 Fidelity Investments Fidelity Dividend Growth Fund, 481,959 shares 8,758,468 9,682,557 Fidelity Investments Fidelity New Markets Income Fund, 123,307 shares 1,514,290 1,598,059 Fidelity Investments Fidelity Global Balanced Fund, 7,586 shares 98,170 101,345 Fidelity Investments Fidelity Small Capital Stock Fund, 170,743 shares 2,224,075 2,315,271 Fidelity Investments Fidelity Global Bond Fund, 11,278 shares 109,371 109,619 Plan participants Participant loans, interest rates varying from 5.0 to 12.5 percent - 114,521,429
Note: The current values of each fund are based principally upon the closing prices of the underlying investments as reported in the New York Stock Exchange Transactions listing as of the last trading day of 1996. Current values also include interest and dividends receivable. *Denotes related party.
Ford Motor Company Tax-Efficient Savings Plan for Hourly Employees Item 27d - Schedule of Reportable Transactions for the year ended December 31, 1996 Current Identity of Purchase Selling Lease Expenses Cost Value Net Gain Party Involved Description of Asset Price Price Rental Incurred of Asset of Asset or(Loss) - -------------- ----------------------- ---------- ---------- ------- --------- ----------- ---------- ------------ REPORTING CRITERION I: Single transaction in excess of five percent of current value of plan assets. None. REPORTING CRITERION II: Series of transactions in other than securities in excess of five percent of current value of plan assets. None. REPORTING CRITERION III: Series of transactions in securities in excess of five percent of current value of plan assets. Fidelity Investments 1993 Income Fund: 73 Purchases $ 2,173,393 $ 2,173,393 79 Sales $ 85,020,716 85,020,716 - Fidelity Investments Interest Income Fund: 260 Purchases 307,219,349 307,219,349 $307,219,349 254 Sales 193,801,669 193,801,669 193,801,669 - Fidelity Investments Ford Stock Fund: 254 Purchases 289,675,320 289,675,320 289,675,320 254 Sales 260,828,494 217,616,667 $213,211,824 REPORTING CRITERION IV: Single transactions with a nonregulated entity in excess of five percent of current value of plan assets. None.
EX-23 2 COOPERS Consent of Independent Accountants Ford Motor Company The American Road Dearborn, Michigan Re: Ford Motor Company Registration Statement Nos. 33-64605, 33-61107, 33-58255, 33-54737, 33-54283, 33-50238, 33-36043, 33-19036, 2-95018 and 333-27993 on Form S-8 We consent to the incorporation by reference in the above Registration Statements of our report dated June 6, 1997, to the Board of Directors of Ford Motor Company with respect to the financial statements of the Ford Motor Company Tax-Efficient Savings Plan for Hourly Employees at December 31, 1996 and 1995, and for the year ended December 31, 1996, which is included in this Annual Report on Form 11-K. 400 Renaissance Center Detroit, Michigan 48243 June 24, 1997 -----END PRIVACY-ENHANCED MESSAGE-----