<PAGE> 1
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 [NO FEE REQUIRED]
- ----------
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1998
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 MICROELECTRONICS, INC.
SALARIED RETIREMENT SAVINGS PLAN
(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> 2
-2-
REQUIRED INFORMATION
Financial Statements
Statement of Net Assets Available for Benefits, as of December 31, 1998
and 1997.
Statement of Changes in Net Assets Available for Benefits for the Year
Ended December 31, 1998.
Schedule I - Schedule of Assets Held for Investment Purposes as of
December 31, 1998.
Schedule II - Reportable Transactions for the Year Ended December 31,
1998.
<TABLE>
<CAPTION>
Exhibit
- -------
Designation Description Method of Filing
- ----------- ----------- ----------------
<S> <C> <C>
Exhibit 23 Consent of PricewaterhouseCoopers LLP Filed with this Report.
</TABLE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Ford Microelectronics, Inc. Salaried Retirement Savings Plan Committee has duly
caused this Annual Report to be signed by the undersigned thereunto duly
authorized.
FORD MICROELECTRONICS, INC.
By: /s/Thomas J. Lombardi
------------------------------------------
Thomas J. Lombardi, Chairman
Ford Microelectronics, Inc.
Salaried Retirement Savings Plan Committee
June 25, 1999
<PAGE> 3
FORD MICROELECTRONICS, INC. SALARIED RETIREMENT SAVINGS PLAN
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, 1998 and 1997........................................3
Statement of Changes in Net Assets Available for Plan Benefits with fund
information for the year ended December 31, 1998.....................4
Notes to Financial Statements..........................................5-10
Supplemental Schedules:
Item 27a - Schedule of Assets Held for Investment Purposes
as of December 31, 1998.............................................11
Item 27d - Schedule of Reportable Transactions for the year ended
December 31, 1998................................................12-13
1
<PAGE> 4
REPORT OF INDEPENDENT ACCOUNTANTS
To the Boards of Directors of
Ford Motor Company and
Ford Microelectronics, Inc.:
In our opinion, the accompanying statements of net assets available for benefits
of the Ford Microelectronics, Inc. Salaried Retirement Savings Plan (the "Plan")
at December 31, 1998 and 1997 and the related statement of changes in net assets
available for benefits with fund information for the year ended December 31,
1998, present fairly, in all material respects, the net assets available for
benefits of the Plan as of December 31, 1998 and 1997 and the changes in net
assets available for benefits with fund information for the year ended December
31, 1998 in conformity with generally accepted accounting principles. These
financial statements are the responsibility of the Plan'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 which 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
examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements, assessing the accounting principles used and
significant estimates made by management, and evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis
for the opinion expressed above.
Our audits were performed for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules of Assets Held
for Investment Purposes and Reportable Transactions 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.
May 7, 1999
2
<PAGE> 5
FORD MICROELECTRONICS, INC. SALARIED RETIREMENT SAVINGS PLAN
STATEMENT OF PLAN NET ASSETS AVAILABLE FOR PLAN BENEFITS
as of December 31, 1998 and 1997
In thousands
<TABLE>
<CAPTION>
ASSETS 1998 1997
<S> <C> <C>
Investments, at fair value $ 31,692 $ 20,953
Participant notes receivable 590 522
---------- ----------
Net assets available for benefits $ 32,282 $ 21,475
========== ==========
The accompanying notes are an integral part of the financial statements.
</TABLE>
3
<PAGE> 6
FORD MICROELECTRONICS, INC. SALARIED RETIREMENT SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
for the year ended December 31, 1998
In thousands
<TABLE>
<CAPTION>
PARTICIPANT-DIRECTED
------------------------------------------------------------------------------------
FORD ASSOC- INTER- STRATEGIC
COMPANY IATES ULTRA VISTA EQUITY NATIONAL CONSER- STRATEGIC
STOCK STOCK INVESTORS INVESTORS INCOME VALUE GROWTH VATIVE MODERATE
FUND FUND FUND FUND FUND FUND FUND FUND FUND
---------- ------- --------- ---------- ------- ------- -------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Net assets at fair value,
January 1, 1998 $ 8,773 $ $ 2,017 $ 1,074 $ 1,035 $ 2,283 $ 776 $ 27 $ 88
Additions:
Participant contributions 171 305 130 153 256 163 2 29
Company contributions 153 297 128 142 200 111 2 26
Participant notes - principal
repayments 37 51 21 21 36 11 5
Participant notes - Interest
repayments 5 10 4 4 5 2 2
Dividend and interest income (1,835) 2,184 271 202 384 18 5
Net appreciation in fair
value of investments 3,834 2,248 422 123 1 5
Transfers in 4,799 507 1,152 198 349 283 182 8
--------- ------- --------- -------- ------- ------- -------- -------- --------
Total additions 7,164 4,939 2,508 481 871 1,164 610 5 80
Deductions:
Distributions 246 79 56 14 9 27 10 5
Loans to participants 17 5 72 22 27 53 11 8
Net depreciation in fair
value of investments 112 65 277
Transfers out 4,690 922 1,138 629 523 822 229 32 44
--------- ------- --------- -------- ------- ------- -------- -------- --------
Total deductions 4,953 1,006 1,266 777 624 1,179 250 32 57
--------- ------- --------- -------- ------- ------- -------- -------- --------
Net assets at fair value,
December 31, 1998 $ 10,984 $ 3,933 $ 3,259 $ 778 $ 1,282 $ 2,268 $ 1,136 $ 0 $ 111
========= ======= ========= ======== ======= ======= ======== ======== ========
<CAPTION>
PARTICIPANT-DIRECTED
------------------------------------------------------------------------------------
SCHWAB U.S. INCOME
STRATEGIC PREMIUM PERSONAL PRIME SMALL & PARTICI-
AGGRESSIVE BOND CHOICE MONEY GNMA COMPANY GROWTH PANT
FUND FUND FUND MARKET FUND FUND FUND NOTES TOTAL
---------- -------- -------- -------- -------- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Net assets at fair value,
January 1, 1998 $ 400 $ 246 $ 205 $ 1,447 $ 189 $ 0 $ 2,393 $ 522 $ 21,475
Additions:
Participant contributions 58 20 41 25 10 416 1,779
Company contributions 61 15 56 26 10 307 1,534
Participant notes - principal
repayments 23 3 25 4 51 (288)
Participant notes - Interest
repayments 2 4 7 45
Dividend and interest income 17 24 45 78 13 7 204 1,617
Net appreciation in fair
value of investments 43 3 574 7,253
Transfers in 65 378 261 2,587 70 87 1,262 12,188
--------- -------- -------- -------- -------- -------- -------- ------- --------
Total additions 269 443 306 2,791 138 114 2,821 (288) 24,416
Deductions:
Distributions 38 448 2 20 954
Loans to participants 27 6 27 4 1 76 (356)
Net depreciation in fair
value of investments 12 466
Transfers out 103 144 1,658 60 43 1,152 12,189
--------- -------- -------- -------- -------- -------- -------- ------- --------
Total deductions 168 150 2,133 66 56 1,248 (356) 13,609
--------- -------- -------- -------- -------- -------- -------- ------- --------
Net assets at fair value,
December 31, 1998 $ 501 $ 539 $ 511 $ 2,105 $ 261 $ 58 $ 3,966 $ 590 $ 32,282
========= ======== ======== ======== ======== ======== ======== ======= ========
</TABLE>
The accompanying notes are an integral part of the financial statements.
4
<PAGE> 7
FORD MICROELECTRONICS, INC. SALARIED RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
1. DESCRIPTION OF THE PLAN:
The following description of the Ford Microelectronics, Inc. (the
"Company") Salaried Retirement Savings Plan (the "Plan") provides only
general information. Participants should refer to the Plan agreement for
a more comprehensive description of the Plan's provisions.
a. GENERAL: 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 Ford Motor Company ("Ford").It is subject to the
provisions of the Employee Retirement Income Security Act of 1974
("ERISA").
b. ELIGIBILITY: With certain exceptions, regular full-time salaried
employees are eligible to participate in the contributory portion of
the Plan at date of hire. All full-time employees are eligible to
participate in the employer discretionary portion of the Plan.
Participation in the Plan is voluntary.
c. CONTRIBUTIONS: Under the Plan and subject to limits imposed by the
Internal Revenue Code, participants may defer up to 15 percent in
pre-tax contributions and 10 percent in post-tax contributions. The
Company match is at the rate of 100 percent of the first 3 percent of
the participants' base salaries contributed and at the rate of $.60
for each dollar of the next 7 percent of participants' base salaries
contributed. The Company may also contribute an additional amount
determined at the discretion of the Company, in cash. For the years
ended December 31, 1998 and 1997, the Company made discretionary
contributions of 3 percent for each regular active employee with
covered compensation. These contributions were made bi-weekly in 1998
and 1997.
d. PARTICIPANT ACCOUNTS: Each participant's account is credited with the
participant's contribution and allocations of the Company's
contributions and Plan earnings. Administrative expenses are paid
primarily by the Company. Allocations are based on participant
earnings or account balances, as defined. The benefit to which a
participant is entitled is the benefit that can be provided from the
participant's vested account.
e. VESTING: Participants are immediately vested in their contributions
plus actual earnings thereon. Vesting in the Company's matching and
discretionary contribution portion of their accounts plus actual
earnings thereon is based on years of continuous service. A
participant is 100 percent vested after five years of credited
service. A participant becomes fully vested in Company matching
contributions automatically upon attainment of normal retirement age,
retirement due to disability, death, or partial plan termination.
Participants are entitled to receive the full amount of vested funds
when their employment is terminated.
5
<PAGE> 8
1. DESCRIPTION OF THE PLAN, CONTINUED:
f. INVESTMENTS OPTIONS: Upon enrollment in the Plan, a participant may
direct employee and Company matching and discretionary contributions
in any of the investment options. As of December 31, 1998,
participants have the following investment options:
- Ford Motor Company Stock Fund - Invests primarily in shares of Ford
Motor Company common stock with a small portion of short-term liquid
investments for liquidity purposes.
- Associates First Capital Corporation (the "Associates") Stock Fund - A
"sell-only" fund consisting primarily of shares of the Associates'
common stock with a small portion of short-term liquid investments for
liquidity purposes, and after December 31, 1999 will be closed. No
contributions or transfers by Plan participants may be made to this
fund. Future cash dividends paid on the Associates stock held in the
Associates Stock Fund will be credited to participants' accounts in
the Ford Stock Fund and invested in shares of Ford Common Stock.
- Ultra Fund - Invests in stocks of companies with accelerating earnings
and revenue trends. The objective of the fund is to seek capital
growth over time.
- Vista Fund - Invests in medium-sized and smaller companies, with an
emphasis on smaller firms. The objective of the fund is to seek
capital growth over time.
- Equity Income Fund - Invests primarily in companies with favorable
dividend-paying history, dividend-paying ability and capital
appreciation potential. The objective of the fund is to seek current
income with capital appreciation as a secondary objective.
- Value Fund - Invests primarily in stocks of well-established companies
that are believed to be undervalued at the time of purchase. The
objective of the fund is to seek capital growth over time.
- International Growth Fund - Invests in a diversified international
portfolio with the majority of investments in developing markets. The
objective of the fund is to seek capital growth over time.
- Strategic Conservative Fund - Invests in a diversified portfolio of
bonds, money market securities and stocks. The fund's investment
objective is to obtain as high a level of total return as is
consistent with the fund's asset mix.
- Strategic Moderate Fund - Invests in equity securities, but maintains
a sizable stake in bonds and money market securities. The objective of
the fund is to seek high levels of total return (capital appreciation
plus income) as is consistent with its risk profile.
6
<PAGE> 9
1. DESCRIPTION OF THE PLAN, CONTINUED:
f. INVESTMENTS OPTIONS, CONTINUED:
- Strategic Aggressive Fund - Invests in a diversified portfolio of
stocks, bonds and money market securities and seeks a high level of
total return. The objective of the fund is to seek high levels of
total return (capital appreciation plus income) as is consistent with
its risk profile.
- Premium Bond Fund - Invests in longer-term bonds and other debt
instruments. The objective of the fund is to seek high levels of
current income.
- Schwab Personal Choice Fund - Allows participants to invest in mutual
funds, listed and over-the-counter stocks, certificates of deposits,
money market funds and federally backed investments and bonds at the
participants discretion.
- Prime Money Market Fund - Invests in high-quality U.S.
dollar-denominated money market instruments and other short-term
obligations of banks, governments and corporations. The objective of
the fund is to seek the highest level of current income consistent
with preservation of capital.
- GNMA Fund - Invests in mortgage-backed Ginnie Mae certificates. The
objective of the fund is to provide a high level of current income
consistent with safety of principal and investment liquidity.
- U.S. Small Company Fund - Invests primarily in small and medium U.S.
companies that are ranked as the most undervalued. The objective of
the fund is to provide a high total return from a portfolio of small
company stocks.
- Income & Growth Fund - Invests primarily in larger-sized companies and
targets stocks with a higher expected dividend yield and higher
overall return potential. The objective of the fund is to provide
dividend growth, current income and capital appreciation by investing
in common stocks.
g. PARTICIPANT NOTES RECEIVABLE: Participants may borrow from their fund
accounts a minimum of $1,000 and to a maximum equal to the lesser of
$50,000 or 50 percent of their account balance. Loan transactions are
treated as a transfer to/from the investment fund from/to the
Participant Notes fund. Loan terms range from one to five years or up
to ten years for the purchase of a primary residence. The loans bear
interest at a rate commensurate with local prevailing rates. Interest
rates range from 6.0 to 9.5 percent. Principal and interest are paid
ratably through bi-weekly payroll deductions.
h. PAYMENT OF BENEFITS: On termination of service due to death,
disability, retirement, or partial plan termination, a participant may
elect to receive all or part of participant's vested interest in his
or her account as a lump-sum distribution.
7
<PAGE> 10
1. DESCRIPTION OF THE PLAN, CONTINUED:
i. FORFEITURES: The Plan permits the Company to use the funds forfeited
by participants to pay Plan administration expenses, and, to the
extent not used to pay such expenses, to reduce future Company
contributions. As of December 31, 1998 and 1997, $91,704 and $130,464
were forfeited by plan participants and were available to pay future
administrative expenses. To the extent that forfeited funds are not
available to pay Plan administrative expenses, the Company pays such
expenses.
j. INVESTMENT PARTICIPATION: The number of participants in each program
at December 31, 1998 are as follows:
NUMBER OF
INVESTMENT FUND PARTICIPANTS
--------------------------------------- ----------------
Ford Motor Company Stock Fund 312
Associates Stock Fund 264
Ultra Fund 237
Vista Fund 132
Equity Income Fund 137
Value Fund 166
International Growth Fund 134
Strategic Conservative Fund 0
Strategic Moderate Fund 37
Strategic Aggressive Fund 74
Premium Bond Fund 40
Schwab Personal Choice Fund 13
Prime Money Market Fund 174
GNMA Fund 36
U.S. Small Company Fund 25
Income & Growth Fund 235
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
a. BASIS OF ACCOUNTING: The financial statements of the Plan are
prepared under the accrual method of accounting.
b. INVESTMENT VALUATION AND INCOME RECOGNITION: All Plan investments are
valued on the basis of established year-end quoted market prices.
Participant notes are carried at cost, which approximates fair value.
Purchases and sales of securities are recorded 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. Interest income
is recorded on the accrual basis. The Plan presents in the statement
of changes in net assets available for benefits the net appreciation
in the fair value of its investments which consist of the realized
gains and losses and the unrealized appreciation and depreciation on
those investments.
8
<PAGE> 11
NOTES TO FINANCIAL STATEMENTS, CONTINUED
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED:
c. PAYMENT OF BENEFITS: Benefits are recorded when paid.
d. CONTRIBUTIONS: Contributions from employees and the Company are
recorded in the period that payroll deductions are made from Plan
participants.
e. USE OF ESTIMATES: 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 reported period.
Actual results could differ from those estimates.
f. RISKS AND UNCERTAINTIES: The Plan provides for various investment
options in any combination of either equity or fixed income investment
securities. Investment securities are exposed to various risks, such
as interest rate, market and credit. Due to the level of risk
associated with certain investment securities and the level of
uncertainty related to changes in the value of investment securities,
it is at least reasonably possible that changes in risks in the near
term would materially affect participants' account balances and the
amounts reported in the statement of net assets available for benefits
and the statement of changes in net assets available for benefits.
3. PLAN TERMINATION:
Although it has not expressed any intent to do so, the Company has the
right under the Plan to discontinue its contributions at any time and to
terminate the Plan subject to the provisions of ERISA. In the event of
Plan termination, participants will become 100 percent vested in all
funds in their accounts.
9
<PAGE> 12
NOTES TO FINANCIAL STATEMENTS, CONTINUED
4. ASSET VALUE PER SHARE:
The number of shares and asset value per share at December 31, 1998 per
American Century Services Corporation are as follows:
<TABLE>
<CAPTION>
ASSET
NUMBER OF VALUE
SHARES PER SHARE
-------------- ------------
<S> <C> <C>
Ford Motor Company Stock Fund 186,793 $ 58.69
Associates First Capital Corporation 92,812 42.38
Ultra Fund 97,537 33.41
Vista Fund 73,020 10.65
Equity Income Fund 203,237 6.31
Value Fund 374,902 6.05
International Growth Fund 118,552 9.58
Strategic Moderate Fund 17,952 6.21
Strategic Aggressive Fund 75,795 6.61
Premium Bond Fund 52,403 10.28
Schwab Personal Choice Fund 511,222 1.00
Prime Money Market Fund 2,105,105 1.00
GNMA Fund 24,416 10.69
U.S. Small Company Fund 2,644 21.82
Income & Growth Fund 135,599 29.25
</TABLE>
5. TAX STATUS:
The Internal Revenue Service has determined and informed the Company by a
letter dated September 13, 1995, that the Plan and related trust are
designed in accordance with applicable sections of the Internal Revenue
Code ("IRC"). Although the Plan has been subsequently amended, management
believes the Plan continues to be in accordance with the IRC.
6. ASSOCIATES SPIN-OFF:
On March 2, 1998, the Board of Directors of the Company approved the
spin-off of all of Ford's 80.7 percent interest in the Associates First
Capital Corporation (the "Associates") by declaring a dividend on the
Company's outstanding shares of common and Class B stock. The spin-off
dividend was payable on April 7, 1998 to stockholders of record on March
12, 1998.
Participants with assets in the Ford Motor Stock Fund under the Plan on
the distribution date received the stock dividend distribution. As a
result, a total of 53,198 shares of Associates Common Stock was received
by the trustee on behalf of Plan participants.
In preparation for the spin-off, the Associates Stock Fund was created to
hold the Associates shares acquired under the Plan as a result of the
spin-off. Future cash dividends paid on the Associates stock held in the
Associates Stock Fund will be credited to participants' accounts in the
Ford Stock Fund and invested in shares of Ford Common Stock.
During the period between the record date and the distribution date,
participants' Ford Stock Fund account balances under the Plan reflected
the value of the Associates stock distribution.
The Associates Stock Fund is a "sell-only" fund and no contributions or
transfers by Plan participants may be made to this fund.
10
<PAGE> 13
FORD MICROELECTRONICS, INC. SALARIED RETIREMENT SAVINGS PLAN
ITEM 27A - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
as of December 31, 1998
<TABLE>
<CAPTION>
(B) (C)
IDENTITY IF ISSUER, DESCRIPTION OF INVESTMENT,
BORROWER, LESSOR OR INCLUDING MATURITY DATE, (E)
SIMILAR PARTY RATE OF INTEREST, COLLATERAL, (D) CURRENT
(A) PAR OR MATURITY VALUE COST VALUE
- ------ ---------------------- ------------------------------------- ---------------- ----------------
<S> <C> <C> <C> <C>
* Ford Motor Company Ford Motor Company Common Stock,
186,793 shares $ 4,181,469 $ 10,984,048
Associates First Capital Corporation
92,812 shares 1,804,630 3,933,075
* American Century
Services Corporation Ultra Fund, 97,537 shares 2,984,975 3,258,737
Vista Fund, 73,020 shares 952,193 777,668
Equity Income Fund, 203,237 shares 1,363,423 1,282,427
Value Fund, 374,902 shares 2,557,035 2,268,156
International Growth Fund, 118,552 1,032,008 1,135,726
Strategic Moderate Fund, 17,952
shares 105,364 111,483
Strategic Aggressive Fund, 75,795
shares 458,761 501,008
Premium Bond Fund, 52,403 shares 531,568 538,706
Schwab Personal Choice Fund,
511,222 shares 511,222 511,222
Prime Money Market Fund, 2,105,105
shares 2,105,105 2,105,105
GNMA Fund, 24,416 shares 258,295 261,010
U.S. Small Company Fund, 2,644
shares 61,129 57,694
Income & Growth Fund, 135,599
shares 3,300,082 3,966,281
* Participant notes 6% to 9.5% interest rate generally
maturing from 3 to 5 years 0 589,757
--------------- ---------------
Total $ 22,207,259 $ 32,282,103
=============== ===============
</TABLE>
*Party-in-interest to the Plan.
11
<PAGE> 14
FORD MICROELECTRONICS, INC. SALARIED RETIREMENT SAVINGS PLAN
ITEM 27D - SCHEDULE OF REPORTABLE TRANSACTIONS
for the year ended December 31, 1998
<TABLE>
<CAPTION>
(A) (B) (C) (D)
IDENTITY OF DESCRIPTION OF ASSET PURCHASE SELLING
PARTY INVOLVED (INCLUDING INTEREST RATE AND PRICE PRICE
MATURITY IN CASE OF A LOAN)
- -------------------- --------------------------------------------------------- ----------- -----------
<S> <C> <C> <C>
REPORTING CRITERION I: Single transaction in excess of five percent of current
value of plan assets.
None.
REPORTING CRITERION II: Series of transactions in other than securities in excess
of five percent of current value of plan assets.
None.
REPORTING CRITERION III: Series of transactions in securities in excess of five
percent of current value of plan assets.
American Century Services Equity Income Fund
Corporation* Purchases $ 872,174
Sales $ 560,051
Income & Growth Fund
Purchases 2,247,095
Sales 1,247,817
Prime Market Fund
Purchases 2,676,836
Sales 2,018,560
Ultra Fund
Purchases 2,088,690
Sales 1,269,004
Value Fund
Purchases 1,165,169
Sales 903,062
Vista Fund
Purchases 482,571
Sales 667,063
<CAPTION>
(A) (B) (E) (F) (1) (G) (H)
IDENTITY OF DESCRIPTION OF ASSET LEASE EXPENSE COST CURRENT
PARTY INVOLVED (INCLUDING INTEREST RATE AND RENTAL INCURRED OF ASSET VALUE
MATURITY IN CASE OF A LOAN) OF ASSET
- -------------------- --------------------------------------------------------- ------ -------- --------- -----------
<S> <C> <C> <C> <C> <C>
REPORTING CRITERION I: Single transaction in excess of five percent of current
value of plan assets.
None.
REPORTING CRITERION II: Series of transactions in other than securities in excess
of five percent of current value of plan assets.
None.
REPORTING CRITERION III: Series of transactions in securities in excess of five
percent of current value of plan assets.
American Century Services Equity Income Fund
Corporation* Purchases $ 872,174 $ 872,174
Sales 553,801 560,051
Income & Growth Fund
Purchases 2,247,095 2,247,095
Sales 1,137,617 1,247,817
Prime Market Fund
Purchases 2,676,836 2,676,836
Sales 2,018,560 2,018,560
Ultra Fund
Purchases 2,088,690 2,088,690
Sales 1,286,894 1,269,004
Value Fund
Purchases 1,165,169 1,165,169
Sales 877,154 903,062
Vista Fund
Purchases 482,571 482,571
Sales 728,651 667,063
<CAPTION>
(A) (B) (I)
IDENTITY OF DESCRIPTION OF ASSET NET GAIN
PARTY INVOLVED (INCLUDING INTEREST RATE AND OR (LOSS)
MATURITY IN CASE OF A LOAN)
- -------------------- --------------------------------------------------------- ---------
<S> <C> <C>
REPORTING CRITERION I: Single transaction in excess of five percent of current
value of plan assets.
None.
REPORTING CRITERION II: Series of transactions in other than securities in excess
of five percent of current value of plan assets.
None.
REPORTING CRITERION III: Series of transactions in securities in excess of five
percent of current value of plan assets.
American Century Services Equity Income Fund
Corporation* Purchases
Sales $ 6,250
Income & Growth Fund
Purchases
Sales 110,200
Prime Market Fund
Purchases
Sales
Ultra Fund
Purchases
Sales (17,890)
Value Fund
Purchases
Sales 25,908
Vista Fund
Purchases
Sales (61,588)
</TABLE>
12
<PAGE> 15
FORD MICROELECTRONICS, INC. SALARIED RETIREMENT SAVINGS PLAN
ITEM 27D - SCHEDULE OF REPORTABLE TRANSACTIONS, CONTINUED
<TABLE>
<CAPTION>
(B)
(A) DESCRIPTION OF ASSET (C) (D) (E) (F) (1)
IDENTITY OF (INCLUDING INTEREST RATE AND PURCHASE SELLING LEASE EXPENSE
PARTY INVOLVED MATURITY IN CASE OF A LOAN) PRICE PRICE RENTAL INCURRED
<S> <C> <C> <C> <C> <C>
REPORTING CRITERION III,
CONTINUED:
Ford Motor Company* Ford Motor Company Common Stock:
Purchases $ 6,038,452
Sales $ 5,974,437
REPORTING CRITERION IV: Single transactions with a nonregulated entity in
excess of five percent of current value of plan assets.
None.
<CAPTION>
(B) (H)
(A) DESCRIPTION OF ASSET (G) CURRENT (I)
IDENTITY OF (INCLUDING INTEREST RATE AND COST VALUE NET GAIN
PARTY INVOLVED MATURITY IN CASE OF A LOAN) OF ASSET OF ASSET OR (LOSS)
<S> <C> <C> <C> <C>
REPORTING CRITERION III,
CONTINUED:
Ford Motor Company* Ford Motor Company Common Stock:
Purchases $ 6,038,452 $6,038,452
Sales $ 5,016,688 $5,974,437 $ 957,749
REPORTING CRITERION IV: Single transactions with a nonregulated entity in
excess of five percent of current value of plan assets.
None.
</TABLE>
(1) Information regarding expenses incurred with each transaction was not
available from the trustee.
*Party-in-interest to the Plan.
13
<PAGE> 16
Exhibit Index
-------------
Exhibit No. Description
- ----------- -----------
23 Consent of PricewaterhouseCoopers LLP
<PAGE> 1
Exhibit 23
CONSENT OF INDEPENDENT ACCOUNTANTS
Ford Motor Company
The American Road
Dearborn, Michigan
Re: Ford Motor Company Registration Statement
Nos. 33-56785, 33-58785, 333-02407 and 333-47735
We consent to the incorporation by reference in the above Registration
Statements of our report dated May 7, 1999 to the Board of Directors of Ford
Motor Company and Ford Microelectronics, Inc. with respect to the financial
statements of the Ford Microelectronics, Inc. Salaried Retirement Savings Plan
at December 31, 1998 and 1997, and for the year ended December 31, 1998, which
is included in this Annual Report on Form 11-K.
June 25, 1999
