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
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)
<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 Report.
& Lybrand.
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/P. T. Zachary
P. T. Zachary, Chairman
Tax Efficient Savings Plan for
Hourly Employees Committee
June 28, 1994
11-k\tespe.93
<PAGE>
EXHIBIT INDEX
Sequential
Page Number
Designation Description at Which Found
- - ----------- ------------------ --------------
Exhibit 23 Consent of Coopers
& Lybrand
<PAGE>
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 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 10
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>
Coopers &
Lybrand
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 Tax-Efficient Savings Plan for Hourly 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 Tax-Efficient Savings Plan for Hourly 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 Tax-Efficient Savings Plan for Hourly 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
Tax-Efficient Savings Plan for Hourly Employees
STATEMENT OF FINANCIAL CONDITION AS OF DECEMBER 31, 1993
(In Thousands)
Ford Motor Co. Current Common
Common Stock Interest Fund Stock Fund Income Fund Total
-------------- ------------- ---------- ----------- ------
<S> <C> <C> <C> <C> <C>
December 31, 1993
Assets:
. Participant Contributions
Receivable $ 6,915 $ 2,053 $ 2,194 $ 3,235 $ 14,397
. Interfund Receivable (Payable) 1,326 (1,778) (164) 616 0
. Loan Funds Receivable 56,640 56,640
. Interest and Dividends Receivable 5 673 162 840
. Deposits w/Insurance Companies & Others
Under Group Contracts (Schedule I) 283,590 283,590
. Investments (Schedule I) 714,791 138,216 94,438 947,445
---------- -------- ---------- ---------- ---------
Total Assets $ 723,037 $ 195,804 $ 96,630 $ 287,441 $ 1,302,912
========== ========== ========== ========== ===========
Liabilities and Plan Equity:
. Participant Withdrawals Payable $ 2,747 $ 269 $ 167 $ 1,416 $ 4,599
. Participant Loans Payable 897 448 179 1,524
. ESOP Loan Payable 18,656 18,656
. ESOP Loan Interest Payable 96 96
. Plan equity, end of year $ 700,641 $ 195,087 $ 96,284 $ 286,025 $1,278,037
---------- ---------- --------- ---------- ----------
Total Liabilities and
Plan Equity $ 723,037 $ 195,804 $ 96,630 $ 287,441 $1,302,912
========== ========== ========== =========== ==========
The accompanying notes are an integral part of the financial statements.
</TABLE>
3
finalte.93a
<PAGE>
<TABLE>
<CAPTION>
Ford Motor Company
Tax-Efficient Savings Plan for Hourly Employees
STATEMENT OF FINANCIAL CONDITION AS OF DECEMBER 31, 1992
(In Thousands)
Ford Motor Co. Current Common
Common Stock Interest Fund Stock Fund Income Fund Total
-------------- ------------- ------------- ----------- --------
<S> <C> <C> <C> <C> <C>
December 31, 1992
Assets:
Participant Contributions Receivable $ 5,767 $ 1,496 $ 1,360 $ 3,012 $ 11,635
Interfund Receivable (Payable) 1,965 (2,473) (23) 531 0
Loan Funds Receivable 40,641 40,641
Interest and Dividends Receivable 6 545 109 660
Deposits w/Insurance Companies & Others
Under Group Contracts (Schedule I) 253,595 253,595
Investments (Schedule I) 439,610 98,005 65,571 603,186
---------- -------- --------- ------------ ---------
Total Assets $ 447,348 $ 138,214 $ 67,017 $ 257,138 $ 909,717
========== ========== ========== ========== ==========
Liabilities and Plan Equity:
Participant Withdrawals Payable $ 764 $ 367 $ 100 $ 732 $ 1,963
Participant Loans Payable 578 431 198 1,207
ESOP Loan Payable 4,936 4,936
ESOP Loan Interest Payable 34 34
Plan Equity, End of Year 441,036 138,214 66,719 256,406 901,577
---------- ---------- ---------- --------- ---------
Total Liabilities and
Plan Equity $ 447,348 $ 137,416 $ 67,017 $ 257,138 $ 909,717
========== ========== ========== =========== ==========
</TABLE>
The accompanying notes are an integral part of the financial statements.
4
finalte.93a
<PAGE>
<TABLE>
<CAPTION>
Ford Motor Company
Tax-Efficient Savings Plan for Hourly 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 Income Fund Total
------------- ------------- ----------- ----------- ------
<S> <C> <C> <C> <C> <C>
Investment Income:
Interest $ 22 $ 7,003 $ 36 $ 19,357 $ 26,418
Dividends 17,129 1,887 19,016
Net Appreciation in Fair Value
of Investments 232,869 8,267 241,136
Company Contributions on Behalf
of Employees 60,688 16,774 17,248 28,597 123,307
Withdrawal of Participants'
Accounts (16,763) (4,723) (1,673) (9,614) (32,773)
Loan Funds Transferred (Out)/In (19,401) 22,867 (3,466) 0
Net Transfers Between Funds (14,295) 15,750 7,266 (8,721) 0
ESOP Loan Interest Expense (644) (644)
----------- ----------- ----------- ----------- -----------
Net Increase/(Decrease) in Plan
Equity for the Year $ 259,605 $ 57,671 $ 29,565 $ 29,619 $ 376,460
Plan Equity, Beginning of Year 441,036 137,416 66,719 256,406 901,577
---------- ----------- ---------- ---------- ----------
Plan Equity, End of Year $ 700,641 $ 195,087 $ 96,284 $ 286,025 $t1,278,037
========== =========== ========== =========== ===========
</TABLE>
The accompanying notes are an integral part of the financial statements.
5
ssip.rcm
<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 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 Tax-Efficient Savings Plan for
Hourly Employees (the Plan) by Ford Motor Company (the Company) on
behalf of an employee (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 was established effective January 1, 1985.
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 hourly
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
Employees with one or more years of service and certain other categories
of employees are 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
Under the Plan and subject to limits required to be imposed by the
Internal Revenue Code, participants may elect a reduction in eligible
wages up to 15% with a corresponding contribution in the same amount
made to the Plan by the Company on their behalf. Such provisions also
apply to distributions under the Company's Profit Sharing Plan. Such
contributions are excluded from participants' taxable income.
Transfer of Assets
The Plan permits one transfer each month of assets among investment
elections, with certain restrictions related to transfers from the
Income Fund.
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 1993, are as follows:
Participants
100 percent Company Stock 11,819
100 percent Common Stock Fund 1,887
100 percent Income Fund 5,068
100 percent Current Interest Fund 3,261
Combinations of Company Stock,
Common Stock Fund, Income Fund
and Current Interest Fund
in whole multiples of 10 percent 12,560
--------
Active participants at year end 34,595
Inactive participants 18,007
------
Total participants 52,602
======
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 stock (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
Ford Motor Company Savings and Stock Investment Plan (SSIP) 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 4. A small portion of the fund is
invested in short-term cash equivalents.
Continued
7
<PAGE>
NOTES TO FINANCIAL STATEMENTS, Continued
2. Description of the Plan, continued:
Investment Programs and Participation, continued
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 SSIP. The objective of the fund is
maximization of current income consistent with 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
includes $4.0 million related to interest included in participants' loan
repayments.
Brokerage fees applicable to the Common Stock Fund investments are paid
from funds in the Common Stock Fund. The Company pays all other costs
associated with the administration of the Plan.
Investment details as of December 31, 1993, are set forth in Schedule I.
Distributions
Plan 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
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.
Continued
8
<PAGE>
NOTES TO FINANCIAL STATEMENTS, Continued
3. Net Appreciation 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 $232.9 million and $8.3 million, respectively, for the year
ended December 31, 1993.
4. Asset Value per Common Stock Fund Unit:
The number of units and the asset value per unit, in the Common Stock
Fund at December 31, 1993, and 1992 are as follows:
December 31, 1993 December 31, 1992
----------------- -----------------
Asset
Number Value Number Value
of Units Per Unit of Units Per Unit
--------- -------- -------- ---------
Common Stock Fund 3,831,213 $ 24.692 3,021,986 $ 21.734
5. 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) 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 $23,212,616 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 356,186 and 139,492 unallocated ESOP shares at
year-end 1993 and 1992, respectively.
Continued
9
<PAGE>
NOTES TO FINANCIAL STATEMENTS, Continued
5. Employee Stock Ownership Plan, continued:
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 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 $23,212,616 -
Shares Purchased With Loan Cash 445,232 -
Loan Principal Paid $ 4,556,483 $4,935,801
Loan Interest Paid and Accrued $ 528,442 $ 115,657
6. Tax Status:
In connection with the adoption of the Plan in 1985, the Internal
Revenue Service (IRS) has issued a determination letter holding that the
Plan meetsthe 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 February 23, 1993.
7. 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 Common Stock
Fund units in the account of the participant as of the effective date of
such termination.
10
<PAGE>
<TABLE>
<CAPTION>
Item 27a - Schedule of Assets Held for Investment Purposes Schedule I
Ford Motor Company Page 1 of 2
TAX-EFFICIENT SAVINGS PLAN FOR HOURLY 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 or Maturity Value Cost Value
- - -------------------------- --------------------------------- ---- ----------
<S> <C> <C> <C>
(000) (000)
Ford Motor Company Common Stock
- - -------------------------------
Ford Motor Company* Ford Motor Company Common Stock
11,077,677 Shares $441,349 $714,510
Comerica Bank, N.A. 180-Day Commercial Paper
Interest Rate Variable 286 286
-------- ---------
$441,635 $714,796
======== ========
Current Interest Fund
Society National - Note $ 8,000,000 Par, 3.45%,
01/14/94 $ 2,283 $ 2,283
General Electric Capital
Corp. - Note $25,000,000 Par, 3.3%,
05/18/94 7,151 7,149
American Express Centurion
Bank - Note $10,000,000 Par, 3.71,
06/10/94 2,877 2,873
IBM Credit Corp. - Note $ 5,000,000 Par, 4.09%,
09/23/94 1,440 1,438
Old Kent Bank and Trust - Note $10,000,000 Par, 3,375%,
10/24/94 2,851 2,851
Household Financial Corp. - Note $30,000,000 Par, 3.4375%,
11/08/94 8,542 8,240
Transamerica Life GIC #79176 $10,000,000 Par, 3,55%,
08/02/94 2,842 2,842
Beta Financial Private Placement $25,000,000 Par, 3.13%,
05/17/94 7,110 7,110
Federal Farm Credit Banks $10,000,000 Par, 3.21%,
03/01/94 2,841 2,841
Federal Farm Credit Banks $25,000,000 Par, 3.31%,
05/02/94 7,122 7,122
Canadian Imperial Bank - CD $15,000,000 Par, 3.35%,
03/14/94 4,265 4,265
Bank of Nova Scotia - CD $15,000,000 Par, 3.25%,
04/19/94 4,278 4,278
Bank of Nova Scotia - CD $10,000,000 Par, 3.6%,
07/21/94 2,879 2,879
Pittsburg National Bank - CD $20,000,000 Par, 3.75%,
08/02/94 5,757 5,756
Bank of Nova Scotia -
Commercial Paper $10,000,000 Par, 3.15%,
01/21/94 2,829 2,829
Pacific Dunlop - Commercial Paper $19,200,000 Par, 3.3%,
03/01/94 5,410 5,410
Comerica Bank, N.A. 180-Day Commercial Paper Interest
Rate Variable 68,412 68,412
------ ------
Total $138,889 $138,578
======== ========
Common Stock Fund
Comerica Bank, N.A. Equity Index Funds
3,831,234 Units $ 61,017 $ 94,600
======== ========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Item 27a - Schedule of Assets Held for Investment Purposes Schedule I
Ford Motor Company Page 2 of 2
TAX-EFFICIENT SAVINGS PLAN FOR HOURLY 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
- - -------------------------- --------------------------------- ----- --------
<S> <C> <C> <C>
(000) (000)
Income Funds
- - ------------
Lehman Government
Securities, Inc. 06/30/96 Maturity -
5.49% Interest Rate $ 79,431 $ 79,431
The Prudential Insurance
Company of America 06/30/95 Maturity -
7.03% Interest Rate 100,546 100,546
The Prudential Insurance
Company of America 06/30/94 Maturity -
8.30% Interest Rate 69,075 69,075
Metropolitan Life Insurance
Company 06/30/94 Maturity -
8.30% Interest Rate 34,538 34,538
------- -------
Total $285,590 $285,590
======== ========
</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.
Item 27a - Schedule of Assets Held for Investment Which Were Both Acquired and
Disposed of in the Same Plan Year
<TABLE>
<CAPTION>
(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>
Dispositions
NOT APPLICABLE
tesp.rcm
<PAGE>
</TABLE>
<TABLE>
<CAPTION>
Item 27d - Schedule of Reportable Transactions Schedule II
Ford Motor Company
Tax-Efficient Savings Plan for Hourly 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 Assets 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 $54,592,616 N/A N/A $ 0 $54,592,616 $54,592,616 N/A
Comerica Bank,
N.A. Footnote #2 260,722,660 N/A N/A 0 260,722,660 260,722,660 N/A
Comerica Bank,
N.A. Footnote #3 N/A $261,399,306 N/A 0 261,399,306 261,399,306 $0
Lehman Government
Securities, Inc. Footnote #4 80,573,082 N/A N/A 0 80,573,082 80,573,082 N/A
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 55 of Current Value of Plan Assets - None
- - ------------------------------------------------------------------------------------------------------
Footnotes:
- - ---------
#1 Purchase of 1,073,558 shares of Ford Motor Company Common Stock.
#2 Purchase of Comerica Bank, N.A. Short-Term Fund (Bank Collective Fund).
#3 Sales of Comerica Bank, N.A. Short-Term Fund (Bank Collective Fund).
#4 Deposit of funds in the Plan's 1994 Income Fund.
</TABLE>
<PAGE>
Coopers &
Lybrand Exhibit 23
Consent of Independent Accountants
Ford Motor Company
The American Road
Dearborn, Michigan
Re: Ford Motor Company Registration Statement
Nos. 33-50238, 33-19036, 33-36043, and 2-95018 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 Tax-Efficient Savings Plan for Hourly 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, 1994
