SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 11-K
(Mark One)
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
X SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED]
- -----
For the fiscal year ended December 31, 1995
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,
1995 and 1994.
Statement of Changes in Net Assets Available for Plan Benefits for the
Year Ended December 31, 1995.
Schedule I - Schedule of Assets Held for Investment Purposes as of
December 31, 1995.
Schedule II - Reportable Transactions for the Year Ended December 31,
1995.
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 26, 1996
<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:
Statement of Net Assets Available for Plan Benefits
as of December 31, 1995 and 1994 3
Statement of Changes in Net Assets Available for Plan
Benefits for the Year Ended December 31, 1995 4
Notes to Financial Statements 5-12
Supplemental Schedules:
Schedule I - Item 27a - Schedule of Assets Held for
Investment Purposes as of December 31, 1995 13-14
Schedule II - Item 27d - Reportable Transactions for
the Year Ended December 31, 1995 15
<PAGE>
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, 1995 and 1994, and the related
statement of changes in net assets available for plan benefits for the year
ended December 31, 1995. These financial statements are the responsibility
of the Company's management. Our responsibility is to express an opinion on
these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements.
An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly,
in all material respects, the net assets available for benefits of the plan
as of December 31, 1995 and 1994, and the changes in net assets available for
benefits for the year ended December 31, 1995, in conformity with generally
accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules of the
Ford Motor Company Savings and Stock Investment Plan for Salaried Employees
as of December 31, 1995 are presented for the purpose of additional analysis
and are not a required part of the basic financial statements, but are
supplementary information required by the Department of Labor's Rules and
Regulations for Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974. The supplemental schedules have been subjected to the
auditing procedures applied in the audits of the basic financial statements
and, in our opinion, are fairly stated, in all material respects, in relation
to the basic financial statements taken as a whole.
/s/Coopers & Lybrand L.L.P.
Detroit, Michigan
June 7, 1996
<PAGE>
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, 1995
<TABLE>
<CAPTION>
Stable
Ford Value Interest Common
Stock Income Income Stock Income International
Fund Fund Fund Fund Funds Funds
------------ --------------- ------------- --------------- ------------- -----------
<S> <C> <C> <C> <C> <C> <C>
Interest and dividend
income $154,328,610 $ 36,961,102 $ 31,076,554 $ 21,400,720 $ 2,299,928 $ 344,994
Net appreciation (depreciation)
in fair value of investments 172,545,923 194,970,009 5,621,820 193,454
Loan repayment (principle) 186,498 18,157 32,743,086 56,218 4,037 1,554
Loan repayment (interest) 66,110 6,051 5,916,298 17,610 1,523 532
Employee contributions 42,577,884 4,447,531 3,233,521 10,809,406 941,981 93,396
Comany contributions on behalf
of employees 129,396,800 17,374,865 13,175,902 52,371,882 5,146,822 261,663
Company matching 129,120,382
Withdrawal of participants'
accounts (194,750,500) (62,951,422) (43,420,464) (41,673,008) (2,972,373) (6,273)
Net transfers between funds (289,162,529) (31,771,742) 131,355,670 (57,410,719) 9,468,553 18,125,073
Loan funds transferred (out) in (25,278,270) (3,344,935) (7,496,379) (790,877) (18,627)
Administrative expenses (923,821)
Interest expense (3,856,739)
------------ ------------- ----------- ------------ ---------- ----------
Net increase (decrease) in plan
equity for the year 114,250,348 (35,915,458) 170,735,632 173,045,739 19,721,414 18,995,766
Net assets available for benefits,
beginning of year 3,500,356,139 627,489,558 345,943,799 716,598,661 40,832,038 -
------------- ------------- ------------ ------------ ----------- ----------
Net assets available for
benefits, end of year $3,614,606,487 $591,574,100 $516,679,431 $ 889,644,400 $ 60,553,452 $ 18,995,766
============== ============ ============ ============= ============ ============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Growth
Asset and
Allocation Growth Income Loan
Funds Funds Funds Fund Total
--------------- ------------- ------------ ------------- ------------
<S> <C> <C> <C> <C> <C>
Interest and dividend income $ 118,495 $ 9,350,457 $ 960,981 $ 256,841,841
Net appreciation (depreciation)
in fair value of investments 83,742 (7,345,972) 756,444 366,825,420
Loan repayment (principle) 358 14,979 2,097 $(33,026,984) -
Loan repayment (interest) 172 5,187 846 6,014,329
Employee contributions 32,243 687,450 180,187 63,003,599
Company contributions on
behalf of employees 110,301 2,216,126 388,037 220,442,398
Company matching 129,120,382
Withdrawal of participants'
accounts (1,799) (156,819) (13,797) (107,776) (346,054,231)
Net transfers between funds 7,660,576 153,651,522 49,922,679 8,160,917 -
Loan funds transferred (out) in (5,414) (214,278) (78,128) 37,226,908 -
Administrative expenses (923,821)
Interest expense (3,856,739)
---------- ------------ --------- ------------ -------------
Net increase (decrease) in plan
equity for the year 7,998,674 158,208,652 52,119,346 12,253,065 691,413,178
Net assets available for benefits,
beginning of year - - - 113,383,540 5,344,603,735
----------- ------------ ---------- ------------ -------------
Net assets available for
benefits, end of year $ 7,998,674 $158,208,652 $52,119,346 $125,636,605 $6,036,016,913
=========== ============ =========== ============ ==============
</TABLE>
The accompanying notes are an integral part of the financial statements.
<PAGE>
Ford Motor Company Savings and Stock Investment Plan for Salaried Employees
Statement of Net Assets Available for Plan Benefits
as of December 31, 1995 and 1994
ASSETS 1995 1994
------------- --------------
Participant contributions receivable - $ 29,020,428
Interest and dividends receivable - 2,337,071
Loan funds receivable $125,636,605 113,383,540
Deposits with insurance companies
under group contracts 591,574,100 626,144,602
Investments at fair value 5,318,806,208 4,672,242,134
-------------- --------------
Total assets 6,036,016,913 $5,443,127,775
============= ==============
LIABILITIES AND PLAN EQUITY
Participant loans payable - $ 2,062,600
Employee stock ownership plan
loan payable - 95,878,788
Employee stock ownership plan
interest payable - 520,793
Forfeitures payable - 61,859
-------------- --------------
Total liabilities - $ 98,524,040
=============== ==============
Net assets available for benefits $ 6,036,016,913 $5,344,603,735
The accompanying notes are an integral part of the financial statements.
<PAGE>
Ford Motor Company Savings and Stock Investment Plan for Salaried Employees
Notes to Financial Statements
1. Summary of Significant Accounting Policies:
a. Investments: The investment in the Ford Stock Fund and
the investments in all other funds except the Stable
Value Income Fund are valued on the basis of established year-
end market prices. Investments in the Stable Value Income Fund,
primarily fixed rate insurance contracts, are at cost which
approximates market.
b. 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.
c. Use of Estimates in the Preparation of Financial Statements:
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at
the date of the financial statements and the reported amounts of
revenues and expenses during the reporting period. Actual results
could differ from those estimates.
d. Other: Purchases and sales of securities are reflected on a trade-
date basis. Gains and losses on sales of securities are determined
using specific identification.
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 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.
The Ford Stock Fund, the Stable Value Income Fund, the Interest
Income Fund and the Common Stock Fund, which each represent five
percent or more of plan assets at December 31, 1995 are presented
separately in the statement of changes in net assets available for
plan benefits. Other funds, which each represent less than five
percent of plan assets, are combined based on investment objectives
into the Income Funds, the International Funds, the Asset Allocation
Funds, the Growth Funds and the Growth and Income Funds.
Certain amounts in the previously issued 1994 financial statements
have been reclassified to conform with the current year
presentation.
<PAGE>
Notes to Financial Statements, Continued
2. Description of the Plan:
The Plan was established 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.
a. Type and Purpose of the Plan: The Plan is a defined
contribution plan established to encourage and facilitate
systematic savings and investment by eligible 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.
b. 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.
c. 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
percent. 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 percent 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.
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 percent 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 Program are not subject to Company
match.
d. Transfer of Assets: The Plan permits the transfer of assets among
investment elections, with certain restrictions related to transfers
to/from the Stable Value Income Fund. Transfers from the Ford Stock
Fund may be restricted based on vesting requirements relating to
company matching contributions in Ford Stock.
<PAGE>
Notes to Financial Statements, Continued
2. Description of the Plan
e. Loans: The Plan permits loans to participants with certain
restrictions related to loans from the Stable Value Income Fund.
f. Investment Programs and Participation: Participant contributions
are invested in accordance with the participant's election in one or
more of several investment programs. The types of investment
programs, and the number of participants in each program in December
1995, are as follows:
Participants
------------
Ford Stock Fund 51,338
Stable Value Income Fund 25,062
Interest Income Fund 31,838
Common Stock Fund 24,789
Other 25,522
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 Stable
Value Income Fund in 1995 were placed with the John Hancock Mutual
Life Insurance Company at an annual effective interest rate of 8.07
percent. Contributions to the Stable Value Income Fund in 1994 were
placed with the Prudential Insurance Company of America ("Prudential")
at an annual effective interest rate of 4.94 percent. Contributions
to the Stable Value Income Fund in 1993 were placed with Lehman
Government Securities, Inc. at an annual effective interest rate of
5.49 percent. Contributions to the Stable Value Income Fund in 1992
were placed with Prudential Insurance Company of America at an annual
effective interest rate of 7.03 percent. Effective June 30, 1995,
assets in the Stable Value Income Fund for 1992 were transferred to
other investment programs including the Stable Value Income Fund for
1995 based on participants' elections. The Stable Value Income Fund
will no longer be an investment option beginning January 1, 1996.
Investment details as of December 31, 1995 are set forth in
Supplemental Schedule I - Item 27a - Schedule of Assets Held for
Investment Purposes.
g. Vesting and Distributions: Regular savings assets, TESP assets
and assets resulting from company matching contributions (Ford
Stock Fund) 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.
<PAGE>
Notes to Financial Statements, Continued
2. Description of the Plan, continued:
g. Vesting and Distributions, continued: 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.
3. Forfeitures:
The Plan permits the Company to use the Ford Stock Fund units
forfeited by participants to pay plan administration expenses and,
to the extent not used to pay such expenses, to reduce the Company's
future contributions to the Plan. To the extent that forfeited
units are not available to pay certain administrative expenses,
the Company pays such expenses directly. For the year ending
December 31, 1995, participant forfeitures amounted to approximately
$169,000.
In 1995, the Plan paid administrative expenses of approximately
$900,000 dollars through the use of participant forfeitures.
4. Employee Stock Ownership Plan:
Effective January 1, 1989, the Company, by action of the Board of
Directors, established within the Plan an Employee Stock Ownership
Plan ("ESOP"). All shares of Company Stock in the Plan at any time,
including all shares allocated to participants' accounts and shares
held in an ESOP suspense account (described below), and forfeited
shares are included in the ESOP, along with other assets attributable
to post-1988 contributions to the Plan.
The Plan obtained loans from the Company to purchase shares of
company stock for distribution quarterly. A loan totaling
$178,119,318 was obtained in August 1993. It was payable in 8 equal
quarterly installments beginning September 1, 1993. In 1994, loans
were obtained in April, payable in 7 equal quarterly installments
beginning June 1, 1994 and October, payable in 5 equal quarterly
installments beginning December 1, 1994, for $15,917,486 and
$16,176,267, respectively. In 1995, loans were obtained in April,
payable in 3 equal quarterly installments beginning June 1, 1995 and
October, payable in one installment on December 1, 1995 for
$15,517,224 and $3,906,491, respectively.
All outstanding balances were paid as of December 31, 1995.
<PAGE>
Notes to Finacial Statements, Continued
4. Employee Stock Ownership Plan, continued:
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 trustee purchases additional shares to the extent
that shares released from the suspense account are not adequate to
satisfy the requirement for dividend shares allocated to participants'
accounts. The Plan held 3,498,650 unallocated ESOP shares as of
December 31, 1994. There were no unallocated ESOP shares as of
December 31, 1995.
Cash dividends earned on Company Stock held in the Plan generally
are used to make quarterly loan payments. If cash is not available
to make the full payment, the trustee may sell shares held in the
suspense account or the Company, at its option, may elect to make
additional contributions to the Plan. If cash exceeds the loan
payment amounts, the cash is used to reduce the Company's
contribution for additional share requirements.
The following highlights certain ESOP activity:
<TABLE>
<CAPTION>
1995 1994
Loan Activity Loan Activity
-------------- -------------
<S> <C> <C>
Cost of shares purchased with loan cash $ 19,423,687 $ 32,093,755
Shares purchased with loan cash 711,801 1,114,720
Loan principal paid 115,282,703 79,370,651
Loan interest paid and accrued 4,377,511 8,297,919
</TABLE>
<PAGE>
Notes to Financial Statements, Continued
5. Asset Value Per Fund Unit:
The number of units, and the asset value per unit, in the Plan's
investments at December 31, 1995 are as follows:
Asset
Number Value
of Units Per Unit
--------- --------
Stable Value Income Funds 591,574,100 $ 1.00
Interest Income Fund 516,679,431 1.00
T. Rowe Price Spectrum Growth Fund 72,911 13.49
Scudder International Fund 26,392 43.72
Vanguard Life Strategy Conservative Fund 16,352 11.68
T. Rowe Price Spectrum Income Fund 104,638 11.24
Scudder International Bond Fund 44,819 11.46
Vanguard Life Strategy Moderate Fund 39,540 12.11
T. Rowe Price New Horizons Fund 727,991 20.50
Scudder Global Fund 27,787 27.01
Vanguard Life Strategy Growth Fund 39,975 12.36
T. Rowe Price International Stock Fund 469,102 12.23
T. Rowe Price International Discovery Fund 8,694 17.25
Vanguard Index Trust 500 Fund 213,337 57.60
T. Rowe Price International Discovery Fund 11,005 14.36
Scudder Income Fund 57,610 13.61
Vanguard Index Trust Value Fund 65,959 14.80
T. Rowe Price New Asia Fund 292,614 8.22
Scudder Growth and Income Fund 90,814 20.23
Vanguard Index Trust Growth Fund 82,595 13.97
T. Rowe Price High Yield Fund 259,646 8.19
Scudder Greater Europe Growth Fund 23,158 13.97
Vanguard Explorer Fund 18,319 49.95
T. Rowe Price New Era Fund 58,441 22.65
Scudder Japan Fund 116,991 9.44
Vanguard Trustees International Fund 9,103,854 31.11
T. Rowe Price Latin America Fund 125,692 6.81
Bond Fund 4,126,429 12.34
Ford Stock Fund 385,762,528 9.37
Common Stock Fund 27,139,584 32.78
Fidelity Fund 126,749 22.61
Fidelity Puritan Fund 254,898 17.01
Fidelity Trend Fund 5,373 52.48
Fidelity Magellan Fund 611,164 85.98
Fidelity Contrafund 1,071,668 38.02
Fidelity Equity Income Fund 195,423 37.93
Fidelity Growth Company Fund 478,732 36.29
<PAGE>
Notes to Financial Statements, Continued
5. Asset Value Per Fund Unit, continued:
Fidelity Investment Grade Bond Fund 249,610 7.38
Fidelity Growth and Income Portfolio 634,535 27.05
Fidelity Value Fund 147,389 49.64
Fidelity Government Securities Fund 287,230 10.17
Fidelity Retirement Growth Fund 252,948 18.19
Fidelity Overseas Fund 107,565 29.07
Fidelity Europe Fund 24,935 22.82
Fidelity Pacific Basin Fund 65,776 15.20
Fidelity Real Estate Investment Portfolio 51,951 13.88
Fidelity Balanced Fund 60,621 13.52
Fidelity International Growth and Income Fund 19,253 17.95
Fidelity Capital Appreciation Fund 92,256 16.78
Fidelity Canada Fund 2,990 19.02
Fidelity Utilities Fund 165,084 16.16
Fidelity Asset Manager Fund 227,381 15.85
Fidelity Worldwide Fund 128,439 13.44
Fidelity Stock Selector Fund 284,571 22.19
Fidelity Asset Manager Growth Fund 153,387 15.17
Fidelity Asset Manager Income Fund 77,922 11.60
Fidelity Dividend Growth Fund 350,409 15.84
Fidelity New Markets Income Fund 11,202 9.95
Fidelity Global Balanced Fund 3,707 12.84
Fidelity Small Capital Stock Fund 231,111 12.39
Fidelity Global Bond Fund 15,922 9.94
6. Tax Status:
The Plan has received a favorable determination letter from the Internal
Revenue Service that it qualifies 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 taxes. The plan sponsor believes that the Plan, as
amended, continues to qualify and operate as designed.
<PAGE>
Notes to Financial Statements, Continued
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 (a) the continuance of investment, distribution or
withdrawal of the securities, cash and cash value 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.
8. Other:
Differences between the data shown on pages 3 and 4 of this report and
the 1995 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.
9. Subsequent Events:
In January 1996, an Employee Stock Ownership Plan loan totaling
$250,755,942 was obtained from Ford Motor Credit Company. It is payable
in eight equal quarterly installments beginning March 1, 1996.
In January 1996, The Ford Motor Credit Savings Plan merged with Ford
Motor Company Savings and Stock Investment Plan for Salaried Employees.
<PAGE>
Schedule I
<TABLE>
<CAPTION>
Ford Motor Company Savings and Stock Investment Plan for Salaried Employees
Item 27a - Schedule of Assets Held for Investment Purposes
as of December 31, 1995
(c)
(b) Description of Investment,
Identity of Issuer, Including Maturity Date, (e)
Lessor, Borrower Rate of Interest, Collateral, (d) Current
(a) or Similar Party Par or Maturity Value Cost Value
- ----- ---------------------- --------------------------------------------- -------------- ------------
<S> <C> <C> <C> <C>
Lehman Government
Securities, Inc. 7/1/96 Maturity, 5.49% interest rate $ 166,888,702 $ 166,888,702,
The Prudential Insurance
Company of America 6/30/97 Maturity, 4.94% interest rate 131,307,027 131,307,027
John Hancock Mutual Life
Insurance Company 6/30/98 Maturity, 8.07 interest rate 293,378,371 293,378,371
Fidelity Investments Interest Income Fund, 516,679,431 shares 516,679,431 516,679,431
Fidelity Investments T. Rowe Price Spectrum Growth Fund,
72,911 shares 1,010,400 983,564
Fidelity Investments Scudder International Fund, 26,392 shares 1,166,581 1,153,837
Fidelity Investments Vanguard Life Strategy Conservative Fund,
16,352 shares 192,643 190,988
Fidelity Investments T. Rowe Price Spectrum Income Fund,
104,638 shares 1,165,225 1,176,131
Fidelity Investments Scudder International Bond Fund, 44,819 shares 511,978 513,631
Fidelity Investments Vanguard Life Strategy Moderate Fund, 39,540 shares 479,091 478,834
Fidelity Investments T. Rowe Price New Horizons Fund, 727,991 shares 15,833,035 14,923,816
Fidelity Investments Scudder Global Fund, 27,787 shares 750,818 750,531
Fidelity Investments Vanguard Life Strategy Growth Fund, 39,975 shares 494,950 494,088
Fidelity Investments T. Rowe Price International Stock Fund,
469,102 shares 5,717,263 5,737,119
Fidelity Investments T. Rowe Price International Discovery Fund,
8,694 shares 151,089 149,976
Fidelity Investments Vanguard Index Trust 500 Fund, 213,337 shares 12,127,097 12,288,216
Fidelity Investments T. Rowe Price International Discovery Fund,
11,005 shares 156,094 158,028
Fidelity Investments Scudder Income Fund, 57,610 shares 784,618 784,069
Fidelity Investments Vanguard Index Trust Value Fund, 65,959 shares 958,729 976,189
Fidelity Investments T. Rowe Price New Asia Fund, 292,614 shares 2,345,746 2,405,288
Fidelity Investments Scudder Growth and Income Fund, 90,814 shares 1,820,038 1,837,172
Fidelity Investments Vanguard Index Trust Growth Fund, 82,595 shares 1,538,858 1,153,858
Fidelity Investments T. Rowe Price High Yield Fund, 259,646 shares 2,121,548 2,126,502
Fidelity Investments Scudder Greater Europe Growth Fund, 23,158 shares 325,415 323,516
Fidelity Investments Vanguard Explorer Fund, 18,319 shares 940,207 915,010
Fidelity Investments T. Rowe Price New Era Fund, 58,441 shares 1,375,589 1,323,681
Fidelity Investments Scudder Japan Fund, 116,991 shares 1,075,390 1,104,393
Fidelity Investments Vanguard Trustees International Fund, 9,104 shares 290,312 283,221
Fidelity Investments T. Rowe Price Latin America Fund, 125,692 shares 830,712 855,962
Wells Fargo Institutional
Trust Company Bond Fund, 4,126,429 shares 44,709,158 50,920,137
*Ford Motor Company Ford Stock Fund, 385,762,528 shares 2,398,536,023 3,614,606,487
Comerica Bank, N. A. Common Stock Fund, 27,139,854 shares 462,317,124 889,644,400
Fidelity Investments Fidelity Fund, 126,749 shares 2,859,152 2,865,786
Fidelity Investments Fidelity Puritan Fund, 254,898 shares 4,309,143 4,335,820
Fidelity Investments Fidelity Trend Fund, 5,373 shares 323,943 281,954
Fidelity Investments Fidelity Magellan Fund, 611,164 shares 54,895,306 52,547,857
Fidelity Investments Fidelity Contrafund, 1,071,668 shares 43,068,603 40,744,803
Fidelity Investments Fidelity Equity Income Fund, 195,423 shares 7,371,997 7,412,384
Fidelity Investments Fidelity Growth Company Fund, 478,732 shares 18,019,522 17,373,202
Fidelity Investments Fidelity Investment Grade Bond Fund, 249,610 shares 1,823,643 1,842,124
Fidelity Investments Fidelity Growth and Income Portfolio, 634,535 shares 16,732,585 17,164,024
Fidelity Investments Fidelity Value Fund, 147,389 shares 7,279,345 7,316,380
Fidelity Investments Fidelity Government Securities Fund, 287,230 shares 2,885,299 2,921,128
Fidelity Investments Fidelity Retirement Growth Fund, 252,948 shares 4,770,607 4,601,126
Fidelity Investments Fidelity Overseas Fund, 107,565 shares 3,087,628 3,126,907
Fidelity Investments Fidelity Europe Fund, 24,935 shares 575,976 569,006
Fidelity Investments Fidelity Pacific Basin Fund, 65,776 shares 982,954 999,795
Fidelity Investments Fidelity Real Estate Investment Portfolio Fund,
51,951 shares 700,295 721,086
Fidelity Investments Fidelity Balanced Fund, 60,621 shares 806,715 819,603
Fidelity Investments Fidelity International Growth and Income Fund,
19,263 shares 345,946 345,588
Fidelity Investments Fidelity Capital Appreciation Fund, 92,256 shares 1,605,199 1,548,055
Fidelity Investments Fidelity Canada Fund, 2,990 shares 53,833 56,866
Fidelity Investments Fidelity Utilities Fund, 165,084 shares 2,629,743 2,667,750
Fidelity Investments Fidelity Asset Manager Fund, 227,381 shares 3,561,610 3,603,987
Fidelity Investments Fidelity Worldwide Fund, 128,439 shares 1,712,039 1,726,215
Fidelity Investments Fidelity Stock Selection Fund, 284,571 shares 6,739,625 6,314,626
Fidelity Investments Fidelity Asset Manager Growth Fund, 153,387 shares 2,290,244 2,326,877
Fidelity Investments Fidelity Asset Manager Income Fund, 77,922 shares 897,729 903,898
Fidelity Investments Fidelity Dividend Growth Fund, 350,409 shares 5,611,672 5,550,482
Fidelity Investments Fidelity New Markets Income Fund, 11,202 shares 110,077 111,464
Fidelity Investments Fidelity Global Balanced Fund, 3,707 shares 46,711 47,602
Fidelity Investments Fidelity Small Capital Stock Fund, 231,111 shares 3,049,352 2,863,469
Fidelity Investments Fidelity Global Bond Fund, 15,922 shares 157,710 158,268
Plan participants Participants loan, interest rates varying
from 8 to 11 percent - 125,636,606
</TABLE>
Note: The current values of each fund are based principally upon the closing
prices of the underlying investments as reported in the New York Stock
Exchange Transactions listing as of the last trading day of 1995.
Current values also include interest and dividends receivable.
*Denotes related party.
<PAGE>
Schedule II
<TABLE>
<CAPTION>
Ford Motor Company Savings and Stock Investment Plan for Salaried Employees
Item 27d - Schedule of Reportable Transactions
for the year ended December 31, 1995
Current
Identity of Purchase Selling Lease Expenses Cost Value Net Gain
Party Involved Description of Asset Price Price Rental Incurred of Asset of Asset or (Loss)
- --------------- ------------------------ ------------ ----------- ------ -------- ------------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
REPORTING
CRITERION I: Single transaction in
- ----------- excess of five percent of
of current value of plan
assets.
Fidelity Interest Income Fund $619,290,905 $619,290,905 $619,290,905
Fidelity Interest Income Fund $102,599,875 102,599,875 102,599,875 -
Comerica Bank,
N.A. Current Interest Fund 526,949,244 526,949,244 526,949,244 -
REPORTING
CRITERION II: Series of transactions in
- ------------- other that securities in
excess of five percent of
current value of plan
assets.
Prudential
Asset
Management
Group Guaranteed Investment
Contract 295,955,447 295,955,447 295,955,447
John Hancock
Mutual Life Guaranteed Investment
Contract 295,177,298 295,177,298 295,177,298 -
REPORTING
CRITERION III: Series of transactions in
- ------------- securities in excess of
five percent of current
value of plan assets.
Comerica Bank,
N.A. Current Interest Fund 10,682,508 10,682,508 10,682,508
Comerica Bank,
N.A./Fidelity Ford Motor Company
Common Stock 647,877,396 647,877,396 647,877,396
Comerica Bank,
N.A./Fidelity Ford Motor Company
Common Stock 218,849,680 139,868,270 218,849,680 $ 78,981,410
Comerica Bank,
N.A./Fidelity Common Stock Fund 935,852,903 935,852,903 935,852,903
Comerica Bank,
N.A./Fidelity Common Stock Fund 547,298,128 383,350,372 547,298,128 163,947,756
Fidelity Interest Income Fund 102,599,875 102,599,875 102,599,875
REPORTING
CRITERION IV: Single transactions with
- ------------ a nonregulated entity in
excess of five percent of
current value of plan
assets.
None.
15
</TABLE>
Consent of Independent Accountants
Ford Motor Company
The American Road
Dearborn, Michigan
Re: Ford Motor Company Registration Statement
Nos. 33-64607, 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 7, 1996, 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 Salary
Employees at December 31, 1995 and 1994 and for the year ended December
31, 1995, which is included in this Annual Report on Form 11-K.
400 Renaissance Center
Detroit, Michigan 48243
June 20, 1996
