SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 11-K
(Mark One)
X ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED]
For the fiscal year ended December 31, 1994
OR
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
For the transition period from ________________ to ________________
Commission file number 1-3950
FORD MOTOR COMPANY
SAVINGS AND STOCK INVESTMENT PLAN
FOR SALARIED EMPLOYEES
(Full title of the plan)
FORD MOTOR COMPANY
The American Road
Dearborn, Michigan 48121
(Name of issuer of the securities held
pursuant to the plan and the address of
its principal executive office)
<PAGE>
Required Information
- --------------------
Financial Statements and Schedules
----------------------------------
Statement of Net Assets Available for Plan Benefits, as of
December 31, 1994 and 1993.
Statement of Changes in Net Assets Available for Plan Benefits
for the Year Ended December 31, 1994.
Schedule I - Schedule of Assets Held for Investment Purposes
as of December 31, 1994.
Schedule II - Reportable Transactions for the Year Ended
December 31, 1994.
Exhibit
-------
Designation Description Method of Filing
- ----------- ----------- ----------------
Exhibit 23 Consent of Coopers Filed with this Report.
& Lybrand L.L.P.
Signature
---------
Pursuant to the requirements of the Securities Exchange Act of
1934, the Ford Motor Company Savings and Stock Investment Plan for
Salaried Employees Committee has duly caused this Annual Report to
be signed by the undersigned thereunto duly authorized.
SAVINGS AND STOCK INVESTMENT PLAN
FOR SALARIED EMPLOYEES
By: /s/J. B. Ferguson
J. B. Ferguson, Chairman
Savings and Stock Investment
Plan for Salaried Employees Committee
June 27, 1995
11-k\ssip.94
<PAGE>
EXHIBIT INDEX
-------------
Sequential
Page Number
Designation Description at Which Found
- ----------- ----------- ---------------
Exhibit 23 Consent of Coopers & Lybrand
L.L.P.
<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 Net Assets Available for Plan Benefits
as of December 31, 1994 and 1993 3 - 4
Statement of Changes in Net Assets Available for Plan
Benefits for the year ended December 31, 1994 5
Notes to Financial Statements 6 - 12
Supplemental Schedules:
Assets Held for Investment Purposes as of
December 31, 1994 Schedule I
Reportable Transactions for the year ended
December 31, 1994 Schedule II
<PAGE>
Coopers Coopers & Lybrand L.L.P.
& Lybrand
a professional services firm
Report of Independent Accountants
To the Board of Directors of
Ford Motor Company:
We have audited the accompanying Statements of Net Assets Available for Plan
Benefits of the Ford Motor Company Savings and Stock Investment Plan for
Salaried Employees as of December 31, 1994 and 1993, and the related
Statement of Changes in Net Assets Available for Plan Benefits for the year
ended December 31, 1994. These financial statements are the responsibility of
the Company's management. Our responsibility is to express an opinion on
these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements.
An audit also includes assessing the amounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial status of the Ford Motor Company Savings
and Stock Investment Plan for Salaried Employees as of December 31, 1994 and
1993, and the changes in its financial status for the year ended December 31,
1994, in conformity with generally accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules of the
Ford Motor Savings and Stock Investment Plan for Salaried Employees as of
December 31, 1994, are presented for the purpose of additional analysis and are
not a required part of the basic financial statements, but are supplementary
information required by the Department of Labor's Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income Security Act of
1974, as amended. The supplemental schedules have been subjected to the
auditing procedures applied in the audits of the basic financial statements
and, in our opinion, are fairly stated, in all material respects, in relation
the basic financial statements taken as a whole.
Detroit, Michigan
June 2, 1995
<PAGE>
<TABLE>
<CAPTION>
Ford Motor Company
Savings and Stock Investment Plan for Salaried Employees
STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
AS OF DECEMBER 31, 1994 AND 1993
--------------------------------
(In Thousands)
Ford Motor Co. Current Common
Common Stock Interest Fund Stock Fund Bond Fund Income Funds Total
-------------- ------------- ----------- ---------- ------------ ------
<S> <C> <C> <C> <C> <C> <C>
December 31, 1994
- -----------------
Assets:
Participant Contributions
Receivable $ 22,062 $ 1,030 $ 4,252 $ 387 $ 1,289 $ 29,020
Interest & Dividends Receivable 45 2,276 16 2,337
Interfund Receivable (Payable) 7,370 (3,947) (3,144) (334) 55 0
Loan Funds Receivable 113,384 113,384
Deposits with Insurance Companies
Under Group Contracts 626,145 626,145
Investments at fair value
(Schedule I) 3,568,373 347,258 715,807 40,804 4,672,242
---------- ---------- ---------- ---------- ---------- ----------
Total Assets $3,597,850 $ 460,001 $ 716,931 $ 40,857 $ 627,489 $5,433,128
========== ========== ========== ========== ========== ==========
Liabilities and Plan Equity:
Participant Loans Payable $ 1,032 $ 674 $ 332 $ 25 $ $ 2,063
ESOP Loan Payable 95,878 95,878
ESOP Loan Interest Payable 521 521
Forfeitures Payable 62 62
---------- ---------- ---------- ---------- ---------- ----------
Total Liabilities $ 97,494 $ 674 $ 332 $ 25 $ 0 $ 98,524
========== ========== ========== =========== ========== ==========
Net Assets Available
for Benefits $3,500,357 $ 459,327 $ 716,599 $ 40,832 $ 627,489 $5,344,604
========== ========== ========== ========== ========== ==========
The accompanying notes are an integral part of the financial statements.
</TABLE>
-3-
tms:ssip-se.95
<PAGE>
<TABLE>
<CAPTION>
Ford Motor Company
SAVINGS AND STOCK INVESTMENT PLAN FOR SALARIED EMPLOYEES
--------------------------------------------------------
(In Thousands)
Ford Motor Co. Current Common
Common Stock Interest Fund Stock Fund Bond Fund Income Funds Total
------------- ------------- ----------- --------- ------------ -----
<S> <C> <C> <C> <C> <C> <C>
December 31, 1993
Assets:
Participant Contributions
Receivable $ 13,233 $ 1,100 $ 3,628 $ 272 $ 1,607 $ 19,840
Interest & Dividends Receivable 12 1,538 1,272 2,822
Interfund Receivable (Payable) 3,734 (7,813) (1,048) 64 5,063 0
Loan Funds Receivable 105,338 105,338
Deposits with Insurance Companies
Under Group Contracts 774,281 774,281
Investments at fair value
(Schedule I) 3,801,800 350,104 689,929 36,449 4,878,282
---------- -------- --------- -------- --------- ---------
Total Assets $3,818,779 $ 450,267 $ 693,781 $ 36,785 $ 780,951 $5,780,563
========== ========== ========== ========== ========= ==========
Liabilities and Plan Equity:
Participant Loans Payable $ 1,377 $ 862 $ 528 $ 50 $ $ 2,817
ESOP Loan Payable 143,156 143,156
ESOP Loan Interest Payable 740 740
Forfeitures Payable 127 127
---------- ---------- ---------- ---------- --------- ---------
Total Liabilities $ 145,400 $ 862 $ 528 $ 50 $ 0 $ 146,840
========== ========== ========== ========= ======== ==========
Net Assets Available for Benefits $3,673,379 $ 449,405 $ 693,253 $ 36,735 $780,951 $5,633,723
========== ========== ========== ========= ======== ==========
The accompanying notes are an integral part of the financial statements.
</TABLE>
4
tms:finalss.95<PAGE>
<TABLE>
<CAPTION>
Ford Motor Company
Savings and Stock Investment Plan for Salaried Employees
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 1994
----------------------------------------------------------------
(In Thousands)
Ford Motor Co. Current Common
Common Stock Interest Fund Stock Fund Bond Fund Income Funds Total
----------- ------------- ---------- --------- ------------ ------
<S> <C> <C> <C> <C> <C> <C>
Investment Income:
Interest $ 434 $ 20,893 $ 243 $ 2,707 $ 45,234 $ 69,511
Dividends 111,191 18,173 129,364
Contributions:
Employee 40,937 2,922 10,809 843 4,084 59,595
Company on Behalf of Employees 109,852 11,240 48,293 4,558 16,053 189,996
Company Matching $ 118,416 118,416
---------- ---------- ----------- --------- --------- ---------
Total Additions $ 380,830 $ 35,055 $ 77,518 $ 8,108 $ 65,371 $ 566,882
---------- ---------- ---------- ---------- ---------- ----------
Withdrawal of Participants'
Accounts $ (184,927) $ (25,795) $ (31,088) $ (1,317) $ (69,212) $ (312,339)
Net Depreciation in Fair Value
of Investments (527,086) (4,966) (3,869) (535,921)
Loan Funds Transferred (Out)/In (23,533) 33,120 (8,803) (784) 0
Net Transfers Between Funds 189,434 (32,458) (9,315) 1,959 (149,620) 0
Forfeited Company Matching (166) (166)
Interest Expense (7,575) (7,575)
---------- ---------- ---------- ---------- ---------- ---------
Total Deductions $ (553,853) $ (25,133) $ (54,172) $ (4,011) $ (218,832) $ (856,001)
---------- ---------- ---------- ----------- ---------- ----------
Net Increase/(Decrease)
During the Year $ (173,023) $ 9,922 $ 23,346 $ 4,097 $ (153,461) $ (289,119)
Net Assets Available for Benefits
at Beginning of Year 3,673,379 449,405 693,253 36,735 780,951 5,633,723
--------- ---------- ---------- ---------- ---------- ----------
Net Assets Available for Benefits
at End of Year $3,500,356 $ 459,327 $ 716,599 $ 40,832 $ 627,490 $5,344,604
========== ========== ========== ========== ========== ==========
</TABLE>
5
tms:ssip-se1.95
<PAGE>
NOTES TO FINANCIAL STATEMENTS
-----------------------------
1. Summary of Significant Accounting Policies:
------------------------------------------
Investments
- -----------
The investment in Ford Motor Company Common Stock (Company Stock) and
interests in the Common Stock Fund and the Bond Fund are valued on the
basis of established year-end market prices. Investments in the Income
Fund, primarily guaranteed Insurance Contracts, are at cost as required by
statement of position 94-4. Investments in the Current Interest Fund are
carried at current value, as it is the intent of the Plan to hold
investments to maturity.
Contributions
- -------------
Contributions to the Ford Motor Company Savings and Stock Investment Plan
for Salaried Employees (the Plan) from employees and from Ford Motor
Company (the Company) and participating subsidiaries (as defined in the
Plan) are recorded in the period that payroll deductions are made from Plan
participants.
Other
- -----
Purchases and sales of securities are reflected on a trade-date basis.
Gains and losses on sales of securities are based on average cost.
Dividend income is recorded on the ex-dividend date; income from other
investments is recorded as earned.
The Plan presents in the Statement of Changes in Net Assets Available for
Plan Benefits the net appreciation(depreciation) in the fair value of its
investments which consists of the realized gains or losses and the
unrealized appreciation(depreciation) on those investments.
Certain amounts in the previously issued 1993 financial statements have
been reclassified to conform with current year presentation.
2. Description of the Plan:
-----------------------
The Plan became effective February 1, 1956.
The following description of the Plan provides only general information.
The provisions of the Plan are governed in all respects by the detailed
terms and conditions contained in the Plan itself. Participants should
refer to the Plan agreement for a complete description of the Plan's
provisions.
Type and Purpose of the Plan
- ----------------------------
The Plan is a defined contribution plan established to encourage and
facilitate systematic savings and investment by eligible salaried employees
and to provide them with an opportunity to become stockholders of the
Company. The Plan includes provisions for voting shares of Company Stock.
6
<PAGE>
NOTES TO FINANCIAL STATEMENTS, Continued
-----------------------------
2. Description of the Plan, continued:
-----------------------
Eligibility
- -----------
With certain exceptions, regular full-time salaried employees having at
least twelve months of continuous service are eligible to participate in
the Plan. Certain other part-time and temporary employees also may be eli-
gible to participate in the Plan. Participation in the Plan is voluntary.
Contributions
- -------------
The Plan has both a "Tax-Efficient Savings Program" (TESP) and a "Regular
Savings" feature. Under the Plan and subject to limits required to be
imposed by the Internal Revenue Code, participants may elect a reduction in
base salary up to 15% with a corresponding TESP contribution in the same
amount made to the Plan by the Company on their behalf. Participants may
also elect reductions in their distributions under the Company's Profit
Sharing Plan and Flexible Compensation Account program, with a contribution
in an amount corresponding to each reduction made by the Company on their
behalf to the Plan. Such contributions are excluded from the participants'
taxable income. Subject to limitations imposed by the Internal Revenue
Code, participants may also contribute up to 10% of their base salaries to
the Regular Savings feature of the Plan on an after-tax basis. The
investment programs are the same for all savings contributions.
During 1993, Company matching was at the rate of $.50 per dollar of par-
ticipants' TESP and/or Regular Savings contributions up to 5% of their base
salaries. Effective January 1, 1994, the Company began matching at the rate
of $.60 for each dollar of TESP and/or Regular Savings contributions up to
10% of participants' base salaries. All Company matching contributions are
invested in shares of Company Stock. Contributions to TESP of amounts from
the Profit Sharing Plan and Flexible Compensation Account are not matched.
Transfer of Assets
- ------------------
The Plan permits the transfer of assets among investment elections, with
certain restrictions related to transfers from the Income Fund. One
transfer each month for TESP assets and one transfer each month for Regular
Savings assets, and one transfer each month for qualifying Company matching
assets are permitted.
Investment Programs and Participation
- -------------------------------------
Participant contributions are invested in accordance with the participant's
election in one or more of several investment programs. The types of
investment programs, and the number of participants in each program in
December 1994, are as follows:
7
<PAGE>
NOTES TO FINANCIAL STATEMENTS, Continued
-----------------------------
2. Description of the Plan, continued:
-----------------------
Regular
Savings TESP
------- -------
100 percent Company Stock 4,291 7,009
100 percent Common Stock Fund 729 1,732
100 percent Income Fund 350 846
100 percent Current Interest Fund 226 528
100 percent Bond Fund 2655
Combinations of Company Stock,
Common Stock Fund, Income Fund,
Current Interest Fund and Bond
Fund in whole multiples of
10 percent 1,589 5,271
------ ------
Contributing Participants at
December 31, 1994 7,211 15,441
Non-contributing Participants 25,842 26,431
------ ------
Total Participants 33,053 41,872
====== ======
Participants may elect to contribute to a Common Stock Fund, a commingled
index fund. The objective of the fund is to provide investment results that
closely correspond to the price and yield performance of the publicly
traded common stocks (i) of the 500 corporations included in Standard and
Poor's 500 Index and (ii) of the corporations having capitalizations of at
least $100 million as publicly reported from time to time and not included
in the Standard and Poor's 500 Index. Assets of the fund are allocated
between the Plan and the Tax-Efficient Savings Plan for Hourly Employees
(TESPHE) in proportion to the number of units each plan holds in the fund.
Units of the fund held by the Plan at December 31, 1994 and 1993, and their
per unit value, are shown in Note 5. A small portion of the fund is
invested in short-term cash equivalents.
Participants may elect to contribute to an Income Fund with an insurance
company or other organization. The insurance company or other organization
agrees to repay the principal and a stipulated rate of interest over a
specified time period. Contributions to the Income Fund in 1994 were placed
with Prudential Insurance Company of America at an annual effective rate of
4.94%. The Income Fund in 1993 was placed with Lehman Government
Securities, Inc. at an annual effective rate of 5.49%. The Income Fund in
1992 was placed with Prudential Insurance Company of America at an annual
effective rate of 7.03%. The Income Fund in 1991 was placed two-thirds
with Prudential and one-third with Metropolitan Life Insurance Company at
an annual effective interest rate of 8.3%. Effective June 30, 1994 assets
in the Income Fund for 1991 were transferred to other investment programs
including the Income Fund for 1994 based on participants' elections.
Contributions to the Income Fund during 1995 will be placed with John
Hancock Mutual Life Insurance Company at an annual effective interest rate
of 8.07%.
8
<PAGE>
NOTES TO FINANCIAL STATEMENTS, Continued
-----------------------------
2. Description of the Plan, continued:
-----------------------
Participants may elect to contribute to a Current Interest Fund. Assets in
this fund are pooled with those of TESPHE. The objective of the fund is
maximization of current income consistent with the preservation of capital.
Investments are made in debt obligations consisting of marketable
securities, domestic bank certificates of deposit, bankers acceptances and
high grade commercial paper and other money market obligations or
commingled funds holding these types of securities. The interest rate paid
is variable. Average annual interest rates in 1994 and 1993 were 4.2% and
3.4%, respectively. The interest income reported on the Statement of
Financial Condition for the Current Interest Fund for 1994 includes $7.0
million related to interest included in participants' loan repayments.
Participants may elect to contribute to a Bond Fund. The objective of the
fund is to provide investment results that closely correspond to the price
and yield performance of the Lehman Brothers Aggregate Index. The fund will
be invested in a portfolio of the Treasury notes and bonds, corporate notes
and bonds and mortgage-backed securities and other securities that, in the
aggregate, typify the securities that are included in the Lehman Brothers
Aggregate Index. Units of the fund held by the Plan at December 31, 1994
and 1993 and their per unit value are shown in Note 6. A small portion of
the fund is invested in short-term cash equivalents.
Brokerage fees applicable to Common Stock Fund, the Bond Fund, and the
Current Interest Fund are paid by the applicable fund. The Bond Fund
advisor fees are paid by the Bond Fund. The Company pays all fees
associated with the purchase and sale of Company Stock. Shares of Company
Stock forfeited from participants' accounts are used to pay such fees to
the extent such shares are available.
Investment details as of December 31, 1994, are set forth in Schedule I.
Vesting and Distributions
- -------------------------
Regular Savings assets, TESP assets, and assets resulting from Company
matching contributions (Company Stock and related dividend earnings) are
accumulated in annual "classes".
Company matching contributions vest after five years of Plan service. Upon
completion of five years of service, all assets attributable to Company
matching contributions held in participants' accounts and all future
contributions vest when made.
TESP assets may not be withdrawn by participants until the termination of
their employment or until they reach age 59-1/2, except in the case of
personal financial hardship. Participants may borrow from their TESP
accounts within the limits imposed by the Plan. Monthly loan interest rates
are based on the prime rate published in The Wall Street Journal on the
last Tuesday of the preceding month.
9
<PAGE>
NOTES TO FINANCIAL STATEMENTS, Continued
-----------------------------
3. Forfeitures:
-----------
The Plan permits the Company to use the value of Company Stock forfeited
from participants' accounts to pay Plan administration expenses and, to the
extent not used to pay such expenses, to reduce the Company's contributions
to the Plan. During 1994, forfeited shares having a market value of
$336,938 were used to pay administrative expenses. To the extent that
forfeited shares are not available to pay administrative expenses, the
Company pays such expenses.
4. Net Appreciation (Depreciation) in Fair Value of Investments:
------------------------------------------------------------
The Plan's investments are held by a bank-administered trust fund. The
Plan's investments in Company Stock and the Common Stock Fund (including
investments bought, sold, as well as held during the period) depreciated
$527,086,000 and $4,965,829, respectively, for the year ended December 31,
1994. The Plan's investment in the Bond Fund depreciated $3,869,332 for the
year ended December 31, 1994.
5. Asset Value Per Common Stock Fund Unit:
--------------------------------------
The number of units, and the asset value per unit, in the Common Stock Fund
at December 31, 1994 and 1993, are as follows:
December 31, 1994 December 31, 1993
------------------- ----------------------
Number Asset Number Asset
of Value of Value
Units Per Unit Units Per Unit
--------- -------- ------- ---------
Common Stock Fund 28,468,302 $25.144 27,941,416 $24.692
6. Asset Value Per Bond Fund Unit:
------------------------------
The number of units and the asset value per unit in Bond Fund at December
31, 1994 and 1993, are as follows:
December 31, 1994 December 31, 1993
----------------------- ---------------------
Number Asset Number Asset
of Value of Value
Units Per Unit Units Per Unit
---------- ---------- -------- -----------
Bond Fund 3,912,148 $10.43 3,384,290 $10.77
7. Employee Stock Ownership Plan:
-----------------------------
Effective January 1, 1989, the Company, by action of the Board of
Directors, established within the Plan an Employee Stock Ownership Plan
(ESOP). All shares of Company Stock in the Plan at any time, including all
shares allocated to participants' accounts, shares held in an ESOP suspense
account (described below), and forfeited shares are included in the ESOP,
along with other assets attributable to post-1988 contributions to the
Plan.
10
<PAGE>
NOTES TO FINANCIAL STATEMENTS, Continued
-----------------------------
7. Employee Stock Ownership Plan, Continued
-----------------------------
A loan totaling $178,119,318 was obtained in August 1993 from the Company.
It is payable in eight equal quarterly installments beginning September 1,
1993. Additional loans were obtained in April 1994, payable in seven equal
quarterly installments beginning June 1, 1994, and October 1994, payable in
five equal quarterly installments beginning December 1, 1994 for
$15,917,486 and $16,176,267, respectively. All loan proceeds were used to
purchase shares of Company stock for distribution quarterly. All
outstanding balances will be paid during 1995.
The Company Stock shares are held in a suspense account within the Plan
until quarterly loan payments are made. A percentage of shares equivalent
to the percentage of principal and interest paid down by the quarterly
payment are released for distribution when each quarterly payment is made.
The Company purchases additional shares to the extent that shares released
from the suspense account are not adequate to satisfy the requirement for
dividend shares allocated to participants' accounts. The Plan held
3,498,650 and 2,733,148 unallocated ESOP shares as of December 31, 1994 and
1993, respectively.
Cash dividends earned on Company Stock held in the Plan generally are used
to make quarterly loan payments. If cash is not available to make the full
payment, the trustee may sell shares held in the suspense account or the
Company, at its option, may elect to make additional contributions to the
Plan. If cash exceeds the loan payment amounts, the cash is used to reduce
the Company's contribution for additional share requirements.
The following highlights certain ESOP activity for 1994 and 1993:
<TABLE>
<CAPTION>
1994 Loan 1993 Loan
Activity in 1994 Activity in 1993
---------------- ----------------
<S> <C> <C>
Cost of Shares Purchased With Loan Cash $32,093,755 $178,119,318
Shares Purchased With Loan Cash 1,114,720 3,416,436
Loan Principal Paid $79,370,651 $ 34,963,633
Loan Interest Paid and Accrued $ 8,297,919 $ 4,054,936
</TABLE>
8. Tax Status:
----------
The Plan has received a favorable determination letter from the Internal
Revenue Service that it is qualified under Section 401 of the Internal
Revenue Code and that the related trust is tax-exempt under Section 501 of
the Internal Revenue Code. Accordingly, the trust's net investment income
is exempt from income taxes. The Plan sponsor believes that the Plan, as
amended, continues to qualify and to operate as designed.
11<PAGE>
NOTES TO FINANCIAL STATEMENTS, Continued
-----------------------------
9. Plan Termination:
----------------
The Company, by action of the Board of Directors, may terminate the Plan at
any time. Termination of the Plan would not affect the rights of a
participant as to (a) the continuance of investment, distribution or
withdrawal of the securities, cash and cash value of the Common Stock Fund
units and Bond Fund units in the account of the participant as of the
effective date of such termination, or (b) continuance of vesting of such
securities and cash attributable to Company matching contributions or
earnings thereon. There are currently no plans to terminate the Plan.
10. Other
-----
Differences between the data shown on pages 3 through 5 of this report and
the 1994 Form 5500 filed with the Department of Labor are principally
attributable to adjustments made by the plan administrator to conform the
financial statements to the accrual basis of accounting. Included in the
withdrawal of participant's accounts on the Form 5500 but not shown in the
Statement of Net Assets Available for Plan Benefits is $22,683,169 of funds
requested but not yet distributed to the employees as of December 31, 1994.
12
<PAGE>
<TABLE>
<CAPTION>
Schedule 1
Item 27a - Schedule of Assets Held for Investment Purposes
Page 1 of 2
Ford Motor Company
SAVINGS AND STOCK INVESTMENT PLAN FOR SALARIED EMPLOYEES AS OF DECEMBER 31, 1994
-------------------------------------------------------------------------------
(In Thousands)
Description of Investment Including Maturity
Identity of Issue, Lessor, Date, Rate of Interest Collateral, Par or
Borrower, or Similar Party Maturity Value Cost Current Value
- -------------------------- ------------------------------------------- --------- ----------------
<S> <C> <C> <C>
Ford Motor Company*
- ------------------ Ford Motor Company Common Stock -
127,974,397 Shares $ 2,232,935 $3,567,287
Comerica Bank, N.A. 180-Day Commercial Paper Interest
Rate Variable 1,086 1,086
---------- ----------
$2,234,021 $3,568,373
========== ==========
Current Interest Fund
- ---------------------
Bank of Nova Scotia C.P. $20,000,000 Par, 5.310%, 01/04/95 $ 14,124 $ 14,124
American Home Foods C.P. $25,000,000 Par, 5.9%, 01/23/95 17,718 17,718
Bank of Nova Scotia - CD $15,000,000 Par, 5.25%, 02/14/95 10,740 10,740
Sanwa Bank - CD $25,000,000 Par, 6.00%, 05/26/95 17,900 17,900
Transamerica Life GIC #79179 $10,000,000 Par, 6.26%, 08/02/95 7,160 7,160
First Union Bank Charl $10,000,000 Par, 9.400%, 01/10/95 7,171 7,160
Federal Home (Ln Mtg) $ 7,400,000 Par, 6.63%, 10/04/96 5,298 5,290
Federal Home (Ln Mtg) $10,000,000 Par, 5.03%, 02/04/97 7,160 7,146
Comerica Bank, N.A. 180-Day Commercial Paper Interest
Rate Variable 260,020 260,020
-------- --------
$ 347,291 $ 347,258
Participant Loans 6% to 11% Interest Rate 113,384
---------- ----------
Total $347,291 $460,642
========== ==========
Common Stock Fund
- -----------------
Comerica Bank, N.A. Equity Index Funds -
28,468,302 Units $554,237 $715,807
======== =========
Bond Fund
- ---------
Wells Fargo Institutional
Trust Company Bond Index Fund -
3,912,148 Units $ 45,518 $ 40,804
========= ========
Income Funds
- ------------
The Prudential Insurance
Company of America 06/30/97 Maturity - 4.94% Interest Rate 143,511 143,511
Lehman Government Securities, Inc. 07/01/96 Maturity - 5.49% Interest Rate 176,624 176,624
The Prudential Insurance
Company of America 06/30/95 Maturity - 7.03% Interest Rate 306,010 306,010
-------- -------
Total $626,145 $626,145
======== =======
</TABLE>
- - - - - -
*Party-in-interest
tms:ssiprt.95
<PAGE>
<TABLE>
<CAPTION>
Schedule I
Page 2 of 2
Notes to Schedule I
- -------------------
The market value of Ford Motor Company Common Stock is based upon the
closing price reported in the New York Stock Exchange Composite
Transactions listing as of the last trading day of 1994. Market
values also include interest and dividends receivable.
Plans holding assets in the Common Stock Fund are: the Ford Motor
Company Savings and Stock Investment Plan for Salaried Employees and
the Tax-Efficient Savings Plan for Hourly Employees. At December 31,
1994, these plans held a total of 32,850,280 units in the Fund with
each unit having a value of $25.144114. The assets held by the Fund
were allocated to each of the plans in proportion to the number of
units each plan held in the Fund. Units held by the plans at December
31, 1994 are shown in the Notes to Financial Statements for each of
the plans.
Item 27a - Schedule of Assets Held for Investment Which Were Both Acquired and
Disposed of in the Same Plan Year
- ------------------------------------------------------------------------------
(b) Description of investment including
including maturity date, rate of
(a) Identify of issue, borrower, interest collateral, par or (d) Proceeds of
lessor, or similar party maturity value (c) Costs of Acquisitions dispositions
- -------------------------------- -------------------------------------- ------------------------- ---------------
<S> <C> <C> <C>
NOT APPLICABLE
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tms:ssiprt.95
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Schedule II
Item 27d - Schedule of Reportable Transactions
Ford Motor Company
Savings and Stock Investment Plan for Hourly Employees
REPORTABLE TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1994
------------------------------------------------------------
Identity of Description Purchase Selling Lease Expenses Cost of Current Value Net Gain
Party Involved of Asset Price Price Rental Incurred Asset of Asset or (Loss)
- ----------------- ----------- ---------- --------- ------- --------- ------- ------------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
I. Single Transaction in Excess of 5% of Current Value of Plan Assets
II. Series of Transactions in Other Than Securities in Excess of 5% of Current Value of Plan Assets
Prudential Asset Guaranteed $189,493,166 $189,493,166 $189,493,166
Management Group Investment
Contract
Prudential Asset Guaranteed
Management Group Investment $167,291,107 $167,291,107 $167,291,107
Control
III. Series of Transactions in Securities in Excess of 5% of Current Value of Plan Assets
Footnote #1 Ford Motor $410,197,200 N/A N/A $152 $410,197,200 $410,197,220 N/A
Common Stock
Comerica Bank,
N.A. Footnote #2 $2,424,796,1 N/A N/A 0 $2,424,796,136 $2,424,796,136 N/A
Comerica Bank,
N.A. Footnote #3 N/A $2,394,104,608 N/A 0 $2,301,426,095 $2,394,104,608 $92,678,513
IV. Single Transaction With a Non-Regulated Entity in Excess of 5% of Current Value of Plan Assets - None
- - - - - -
Footnotes:
#1 Purchase of 13,966,906 shares of Ford Motor Company Common Stock
#2 Purchases of Comerica Bank, N.A. Bank Collective Fund
#3 Sales of Comerica Bank, N.A. Bank Collective Fund
tms:ssiprt.95
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Exhibit A
Consent of Independent Accountants
Ford Motor Company
The American Road
Dearborn, Michigan
Re: Ford Motor Company Registration Statement
Nos. 33-54735, 33-54275, 33-50194, 33-36061, 33-14951
and 2-95020 on Form S-8
We consent to the incorporation by reference in the above
Registration Statements of our report dated June 2, 1995 to the
Board of Directors of Ford Motor Company with respect to the
financial statements of the Ford Motor Company Savings and Stock
Investment Plan for Salaried Employees at December 31, 1994 and
1993 and for the year ended December 31, 1994, which is included
in this Annual Report on Form 11-K.
/s/ COOPERS & LYBRAND L.L.P.
400 Renaissance Center
Detroit, Michigan 48243
June 19, 1995
