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)
<PAGE>
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
<PAGE>
EXHIBIT INDEX
Sequential
Page Number
Designation Description at Which Found
Exhibit 23 Consent of Coopers & Lybrand
<PAGE>
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
<PAGE>
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
<PAGE>
<TABLE>
<CAPTION>
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
------------- ------------- ---------- --------- ----------- ------
<S> <C> <C> <C> <C> <C> <C>
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
========== ========== ========== ========== ========== ==========
</TABLE>
The accompanying notes are an integral part of the financial statements.
-3-
finalss.93a
<PAGE>
<TABLE>
<CAPTION>
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
------------ ------------- ---------- --------- ----------- -----
<S> <C> <C> <C> <C> <C> <C>
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
========== ========== ========== ============ ========== ==========
</TABLE>
The accompanying notes are an integral part of the financial statements.
-4-
finalss.92a
<PAGE>
<TABLE>
<CAPTION>
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
------------- ------------- ---------- --------- ----------- -----
<S> <C> <C> <C> <C> <C> <C>
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.
</TABLE>
5
finalss.93i
<PAGE>
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
<PAGE>
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
<PAGE>
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
<PAGE>
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:
<TABLE>
<CAPTION>
December 31, 1993 December 31, 1992
------------------------- -------------------------
Number Asset Number Asset
of Value of Value
Units Per Unit Units Per Unit
----- -------- ------ ---------
<S> <C> <C> <C> <C>
Common Stock Fund 27,992,934 $24.692 26,565,601 $21.734
</TABLE>
Continued
9
<PAGE>
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
<PAGE>
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
<PAGE>
<TABLE>
<CAPTION>
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
- - ------------------------------- --------------------------------------- --------- ------
<S> <C> <C> <C>
(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
======== ========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
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)
<S> <C> <C> <C>
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
========= ========
</TABLE>
- - - - - - -
*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.
<TABLE>
<CAPTION>
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
-------------------------- ----------------------------------- ------------ ------------
<S> <C> <C> <C>
NOT APPLICABLE
</TABLE>
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<PAGE>
<TABLE>
<CAPTION>
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)
- - -------------- ----------- -------- ------- ------ -------- ------- ------------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
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).
</TABLE>
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<PAGE>
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
