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 30, 1999
OR
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
--------
For the transition period from to
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Commission file number 1-3950
FORD MOTOR COMPANY SAVINGS AND STOCK
INVESTMENT PLAN FOR SALARIED EMPLOYEES
(Full title of the plan)
FORD MOTOR COMPANY
One American Road
Dearborn, Michigan 48126
(Name of issuer of the securities held
pursuant to the plan and the address of
its principal executive office)
<PAGE>
2
Required Information
--------------------
Financial Statements and Schedules
----------------------------------
Statement of Net Assets Available for Plan Benefits, as of December 30,
1999 and 1998.
Statement of Changes in Net Assets Available for Plan Benefits for the
year ended December 30, 1999.
Schedule I - Schedule of Assets Held for Investment Purposes as of December
30, 1999.
Schedule II - Reportable Transactions for the year ended December 30, 1999.
Exhibit
-------
Designation Description Method of Filing
----------- ----------- ----------------
Exhibit 23 Consent of PricewaterhouseCoopers LLP Filed with this Report.
Signature
---------
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Ford Motor Company Savings and Stock Investment Plan for Salaried Employees
Committee has duly caused this Annual Report to be signed by the undersigned
thereunto duly authorized.
SAVINGS AND STOCK INVESTMENT PLAN
FOR SALARIED EMPLOYEES
By: /s/Sheryl Herrick
----------------------------------
Sheryl Herrick, Chairperson
Savings and Stock Investment
Plan for Salaried Employees Committee
June 26, 2000
<PAGE>
3
EXHIBIT INDEX
-------------
Sequential
Page Number
Designation Description at Which Found
----------- ----------- --------------
Exhibit 23 Consent of PricewaterhouseCoopers LLP
<PAGE>
Ford Motor Company
Savings and Stock Investment
Plan for Salaried Employees
Report on Audits of Financial Statements
and Supplemental Schedules
For the Year Ended December 30, 1999 and for the
period January 1, 1998 through December 30, 1998
<PAGE>
Ford Motor Company Savings and
Stock Investment Plan for Salaried Employees
Contents
------------------------------------------------------------------------------
Pages
Report of Independent Accountants..............................................1
Financial Statements
Statement of Net Assets Available for Plan Benefits
as of December 30, 1999 and 1998...............................................2
Statement of Changes in Net Assets Available for Plan
Benefits for the year ended December 30, 1999..................................3
Notes to Financial Statements...............................................4-12
Additional Information
Schedule I - Schedule of Assets Held for Investment Purposes
as of December 30, 1999....................................................13-14
Schedule II- Reportable Transactions for the year ended December 30, 1999..15-16
<PAGE>
Report of Independent Accountants
To the Board of Directors of
Ford Motor Company
In our opinion, the accompanying statement of net assets available for plan
benefits and the related statement of changes in net assets available for
benefits present fairly, in all material respects, the net assets available for
benefits of the Ford Motor Company Savings and Stock Investment Plan (the
"Plan") at December 30, 1999 and 1998, and the changes in net assets available
for plan benefits for the year ended December 30, 1999, in conformity with
accounting principles generally accepted in the United States. 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 of these statements in accordance with auditing standards
generally accepted in the United States, 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,
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 conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The additional information included in
Schedules I and II is presented for the purpose of additional analysis and is
not a required part of the basic financial statements but is additional
information required by the Employee Retirement Income Security Act of 1974
("ERISA"). These supplemental schedules are the responsibility of the Plan's
management. 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.
June 14, 2000
1
<PAGE>
Ford Motor Company Savings and
Stock Investment Plan for Salaried Employees
Statement of Net Assets Available for Plan Benefits
as of December 30, 1999 and 1998
-------------------------------------------------------------------------------
<TABLE>
<CAPTION>
1999 1998
<S> <C> <C>
Assets
Investments, at fair value $15,434,400,096 $14,831,454,618
Loan funds receivable 143,204,943 143,790,370
--------------- ---------------
Total assets $15,577,605,039 $14,975,244,988
--------------- ---------------
Liabilities
Employee stock ownership plan, loan payable $ 505,649,084 $ 244,654,704
Employee stock ownership plan, interest payable 1,282,101 1,454,966
--------------- ---------------
Total liabilities 506,931,185 246,109,670
--------------- ---------------
Net assets available for plan benefits $15,070,673,854 $14,729,135,318
--------------- ---------------
</TABLE>
The accompanying notes are an integral part of the financial statements.
2
<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 30, 1999
-------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Nonparticipant-
Directed
Fund
--------------------
Ford Participant-
Stock Directed
Fund Funds Total
<S> <C> <C> <C>
Additions
Additions to net assets contributed to
Investment income
Net appreciation (depreciation)
in fair value of investments $ (595,232,805) $ 746,413,776 $ 151,180,971
Interest and dividend income 302,272,554 388,578,354 690,850,908
--------------- -------------------- --------------
(292,960,251) 1,134,992,130 842,031,879
Contributions
Employee contributions 156,076,654 206,344,295 362,420,949
Company contributions on behalf of
employees 2,442,870 8,468,595 10,911,465
Company matching 163,420,207 1,260,128 164,680,335
--------------- -------------------- ---------------
321,939,731 216,073,018 538,012,749
Other additions
Loan repayment (principal) 30,024,360 (30,024,360) -
Loan repayment (interest) 5,664,467 6,447,244 12,111,711
Transfers in from other plan 1,589,283 24,693,336 26,282,619
--------------- -------------------- ---------------
37,278,110 1,116,220 38,394,330
Total additions 66,257,590 1,352,181,368 1,418,438,958
Deductions
Deductions from net assets attributed to
Withdrawal of participants'
accounts (466,797,336) (549,457,895) (1,016,255,231)
Net transfers between funds (114,501,410) 114,501,410 -
Loan funds transferred (out) in (33,598,504) 33,598,504 -
Administrative expense - (2,133,379) (2,133,379)
Interest expense (11,362,571) - (11,362,571)
Transfer out to other plans (45,179,620) (1,969,621) (47,149,241)
--------------- -------------------- ----------------
Total deductions (671,439,441) (405,460,981) (1,076,900,422)
Net increase (decrease) (605,181,851) 946,720,387 341,538,536
--------------- -------------------- ----------------
Net assets available for benefits
Beginning of year 8,574,541,332 6,154,593,986 14,729,135,318
--------------- -------------------- ---------------
End of year $ 7,969,359,481 $ 7,101,314,373 $15,070,673,854
--------------- -------------------- ---------------
</TABLE>
The accompanying notes are an integral part of the financial statements.
3
<PAGE>
Ford Motor Company Savings and
Stock Investment Plan for Salaried Employees
Notes to Financial Statements
-------------------------------------------------------------------------------
1. Description of the Plan
The following description of the Ford Motor Company Savings and Stock
Investment Plan for Salaried Employees (the "Plan") provides only
general information. The Plan was established effective February 1,
1956. The provisions of the Plan are governed in all respects by the
detailed terms and conditions contained in the plan agreement.
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 of Ford Motor Company (the "Company") and to provide them
with an opportunity to become stockholders of the Company. The Plan
includes provisions for voting shares of Company stock. It is subject
to certain provisions of the Employee Retirement Income Security Act
of 1974 ("ERISA") applicable to defined contribution pension plans.
Eligibility
With certain exceptions, regular full-time salaried employees are
eligible to participate in the Plan twelve months after their original
date of hire. Certain other part-time and temporary employees also may
be eligible to participate in the Plan. Participation in the Plan is
voluntary.
Contributions
The Plan has both a Pre-Tax Program and an After-Tax Program. Under
the Plan and subject to limits required to be imposed by the Internal
Revenue Code, participants may elect a reduction in their pre-tax base
salary up to 15%. Participants may also elect reductions in their
distributions under the Company's Performance Bonus Plan and Flexible
Compensation Account program. A contribution in an amount
corresponding to each reduction is made by the Company on their behalf
to the Plan. Such contributions are excluded from the participants'
taxable income and are classified as Company contributions on behalf
of employees. Subject to limitations imposed by the Internal Revenue
Code, participants may also contribute up to 10% of their base monthly
salaries to the Plan on an after-tax basis. These after-tax
contributions are classified as employee contributions. 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 contributions up to 10% of participants' base
salaries. All Company matching contributions are invested in the Ford
Stock Fund. Contributions to the Pre-Tax Program from the Performance
Bonus Plan and Flexible Compensation Account Program are not eligible
for the Company match.
4
<PAGE>
Ford Motor Company Savings and
Stock Investment Plan for Salaried Employees
Notes to Financial Statements
-------------------------------------------------------------------------------
1. Description of the Plan (continued)
Participant accounts
Each participant's account is credited with the participant's
contributions and allocations of (a) the Company's contribution and
(b) plan earnings. Allocations are based on participant earnings or
account balances, as defined. Plan administrative expenses are paid by
the Company and not charged to participants' accounts. Per the plan
agreement, certain fund options charge redemption fees on transfers of
funds which are paid by the participants. These redemption fees are
charged to the individual participant account fund assets. The fees
totaled approximately $173,000 and $119,000 for the year ended
December 30, 1999 and for the period January 1, 1998 through
December 30, 1998, respectively. The benefit to which a participant is
entitled is the benefit that can be provided from the participant's
vested account.
Vesting and distributions
Pre-Tax Program assets, After-Tax Program assets and assets resulting
from Company matching contributions (Ford Stock Fund) are accounted
for separately.
Company matching contributions vest five years after the original date
of hire. At that time, all assets attributable to Company matching
contributions held in participants' accounts become vested, and all
future contributions vest when they are made.
Pre-Tax Program 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.
Investment options and participation
Participant contributions are invested in accordance with the
participant's election in one or more of several investment options.
The types of investment options, and the number of participants in
each option at December 30, 1999, are as follows:
<TABLE>
<CAPTION>
Participants
<S> <C>
Ford Stock Fund 63,930
Interest Income Fund 26,384
Common Stock Fund 18,129
Other 152,654
</TABLE>
The Ford Stock Fund is an investment in Ford common stock with a
portion of the Fund's assets being invested in short-term investments.
5
<PAGE>
Ford Motor Company Savings and
Stock Investment Plan for Salaried Employees
Notes to Financial Statements
-------------------------------------------------------------------------------
1. Description of the Plan (continued)
Investment options and participation (continued)
The Interest Income Fund is a broadly diversified, stable value
investment fund. The Interest Income Fund invests in a diversified
portfolio of fixed income securities, including investment contracts
with insurance companies and other organizations. During 1999 and
1998, the Plan entered into five benefit-responsive investment
contracts with various companies. The contracts are included in the
financial statements at their contract values as reported to the Plan
by the companies. There is no immediate recognition of investment
gains and losses on the fixed income securities. Instead, the gain or
loss is recognized over time by adjusting the interest rate credited
to the fund under the contracts.
There were no reserves against contract value for credit risk of the
contract issuer or otherwise during 1999 or 1998. The average yield
and crediting interest rates were approximately 5.73% for 1999 and
6.4% for 1998. The crediting interest rate is based on a formula
agreed upon with the issuer, but may not be less than 0%. Such
interest rates are reviewed on an annual basis for resetting.
The Common Stock Fund is a broadly diversified, passively managed
equity fund administered by Comerica Bank. Fund assets are invested in
stocks through a series of Comerica Bank commingled pools.
Details of investments held as of December 30, 1999 are set forth in
Schedule I - Schedule of Assets Held for Investment Purposes.
Transfer of assets
The Plan permits the transfer of assets among investment options, with
certain restrictions related to transfers from the Stable Value Income
Fund.
Loans
The Plan permits loans to participants from both their Pre-Tax and
After-Tax Program accounts with certain restrictions related to loans
from the Stable Value Income Fund. Monthly loan interest rates are
based on the prime rate published in The Wall Street Journal.
6
<PAGE>
Ford Motor Company Savings and
Stock Investment Plan for Salaried Employees
Notes to Financial Statements
-------------------------------------------------------------------------------
1. Description of the Plan (continued)
Forfeitures and plan administration expenses
The Plan permits the Company to use assets forfeited by participants
to pay plan administrative 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 assets are not available to pay
certain administrative expenses, the Company pays such expenses
directly. Participant forfeitures amounted to approximately $1,430,000
and $1,306,000 for the year ended December 30, 1999 and the plan year
1998, respectively, of which approximately $1,960,000 and $496,000,
respectively, were used to pay plan administrative expenses.
Employee stock ownership plan
The Plan operates, in part, as a leveraged employee stock ownership
plan (ESOP) and is designed to comply with Section 4975 (e) (7) and
the regulations thereunder of the Internal Revenue Code of 1986, as
amended (Code) and is subject to the applicable provisions of the
Employee Retirement Income Security Act of 1974, as amended (ERISA).
The Plan purchased Company common shares using the proceeds of a loan
from the Company and held the shares in an ESOP trust account
established under the Plan. The borrowings are to be repaid quarterly
over the period ended December 3, 2001.
As the Plan makes each payment of principal, an appropriate percentage
of stock will be allocated to eligible employee accounts. The shares
vest fully upon allocation. The borrowings are collateralized by the
unallocated shares of stock.
2. Summary of Significant Accounting Policies
Basis of accounting
The financial statements of the Plan are prepared under the accrual
method of accounting.
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 stated at
contract value, which approximates fair value.
Contributions
Contributions to the Plan from employees and from the Company and
participating subsidiaries (as defined in the Plan) are recorded in
the period that payroll deductions are made from plan participants.
Payment of benefits
Benefits are recorded when paid.
7
<PAGE>
Ford Motor Company Savings and
Stock Investment Plan for Salaried Employees
Notes to Financial Statements
-------------------------------------------------------------------------------
2. Summary of Significant Accounting Policies (continued)
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
disclosure of contingent assets and liabilities at the date of the
financial statements and the reported amounts of additions and
deductions during the reporting period. Actual results could differ
from those estimates.
Risks and uncertainties
The Plan's invested assets ultimately consist of stocks, bonds, fixed
income securities, and other 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 plan benefits and the statement
of changes in net assets available for plan benefits.
Other
Purchases and sales of investments are reflected on a trade-date
basis. Realized gains and losses on sales of investments are
determined using specific identification.
Dividend income is recorded on the ex-dividend date. Income from other
investments is recorded as earned on an accrual basis.
3. Investments
The following present investments that represent 5% or more of the
Plan's net assets.
<TABLE>
<CAPTION>
1999 1998
<S> <S> <C>
Interest Income Fund $1,872,912,595 $1,943,846,881
Ford Stock Fund 7,969,359,481 8,574,541,332
Common Stock Fund 1,430,806,664 1,254,879,233
</TABLE>
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 Plan's realized gains
or losses and the unrealized appreciation (depreciation) on those
investments. During 1999, the Plan's investments appreciated in value
by $151,180,971 as follows:
<TABLE>
<CAPTION>
<S> <C>
Mutual funds $ 429,855,030
Common stock (606,595,406)
Common and commingled trust fund 327,921,347
---------------
$ 151,180,971
---------------
</TABLE>
8
<PAGE>
Ford Motor Company Savings and
Stock Investment Plan for Salaried Employees
Notes to Financial Statements
-------------------------------------------------------------------------------
4. Plan Amendment
During 1999, the Plan was amended to reduce the participation waiting
period from twelve months after the original date of hire to the first
day of the second month following the date of hire, effective
January 1, 2000. The Company matching contributions, however, will
continue to be provided after twelve months of service. The Plan was
also amended to permit participants to contribute up to 25% of salary
on either or both a pre-tax or after-tax basis, effective April 1,
2000.
During 1998 Plan year, the year-end was amended from December31 to
December 30. The Plan was also amended to give the Board of Directors
authority to establish and vary the maximum rate for Company matching
contributions under the Plan without shareholder approval.
5. Employee Stock Ownership Plan
Effective January 1, 1989, the Company, by action of the Board of
Directors, established within the Plan an Employee Stock Ownership
Plan ("ESOP"). All shares of Company stock in the Plan at any time,
including all shares allocated to participants' accounts and shares
held in an ESOP suspense account, 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 quarterly allocation. The following summarizes the loans
taken out by the Plan:
<TABLE>
<CAPTION>
Original Total Number of Date of
principle Interest quarterly quarterly first
Date of loan balance rate payments payments payment
<S> <C> <C> <C> <C> <C>
12/17/99 $ 505,649,084 6.52% $ 67,817,343 8 03/01/00
11/25/98 26,403,776 5.00% 5,418,883 5 12/01/98
08/27/98 107,797,613 5.72% 18,629,451 6 09/01/98
12/30/97 293,053,220 8.50% 39,999,202 8 03/02/98
</TABLE>
All of the loans matured on December 1, 1999, except for the
December 17, 1999 loan which will mature on December 3, 2001.
9
<PAGE>
Ford Motor Company Savings and
Stock Investment Plan for Salaried Employees
Notes to Financial Statements
-------------------------------------------------------------------------------
5. Employee Stock Ownership Plan (continued)
The Company 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 dividend 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. As of December 30, 1999 and 1998,
the share activity is as follows:
<TABLE>
<CAPTION>
1999 1998
------------------------------------- ------------------------------------
Allocated Unallocated Allocated Unallocated
<S> <C> <C> <C> <C>
Ford Motor Company common
shares
Number of shares 5,338,419 2,709,700 3,376,071 5,239,021
Cost $ 246,807,955 $ 140,385,247 $153,460,001 $ 241,459,866
</TABLE>
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>
1999
loan activity
<S> <C>
Shares purchased with loan cash 8,048,119
Cost of shares purchased with loan cash $ 387,193,202
Loan principal paid 244,654,704
Loan interest paid and accrued 12,817,538
</TABLE>
6. Tax Status
The Internal Revenue Service has determined and informed the Company
by letter dated December 13, 1995, that the Plan and the related trust
are designed in accordance with applicable sections of the Internal
Revenue Code (the "Code"). The Plan has since been amended, however,
the Plan sponsor believes that the Plan is currently designed and
being operated in compliance with the Code. Therefore, no provision
for income taxes has been included in the Plan's financial statements.
10
<PAGE>
Ford Motor Company Savings and
Stock Investment Plan for Salaried Employees
Notes to Financial Statements
-------------------------------------------------------------------------------
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 of
the Ford Stock 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.
8. Other
Differences between the data shown on pages 2 and 3 of this report and
the 1998 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.
On March 2, 1998, the Board of Directors of the Company approved the
spin-off of all of the Company'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 Board of Directors also declared a dividend in cash on
shares of Company stock held in employee savings plans. The cash
distribution was equal on a per share basis to the value of the
Associates stock that was distributed to Ford Common and Class B
stockholders, i.e., $22.12 for each share of Company stock owned as of
the record date. Both the spin-off dividend and the cash dividend were
paid on April 7, 1998 to stockholders of record on March 12, 1998.
Participants with assets in the Ford Stock Fund under the Plan had the
option to take all or part of the cash distribution out of the Plan in
cash. They also could elect to reinvest all or a portion of the cash
distribution in the Plan's investment options, except the Associates
Stock Fund or the Stable Value Income Fund. If no election was made,
the cash distribution was invested according to the participant's
asset allocation at the close of the market on March 11, 1998.
$1,643,056,165 of the amount of the cash distribution attributable to
the Ford Stock Fund under the Plan was invested in the Ford Stock
Fund, $670,227,982 was invested in other Plan options and $228,450,819
was paid out in cash directly to Plan participants.
During the period between the record date and the distribution date,
participants' Ford Stock Fund account balances under the Plan did not
include the value of the cash distribution. Following payment of the
cash distribution, the Ford Stock Fund held a much higher level of
short-term cash instruments until the proceeds of the cash
distribution could be reinvested in Ford Common Stock in an
expeditious and prudent manner.
As of March 3, 1998, the Associates Stock Fund became a "sell-only"
fund, and after December 31, 1999, was closed.
11
<PAGE>
Ford Motor Company Savings and
Stock Investment Plan for Salaried Employees
Notes to Financial Statements
-------------------------------------------------------------------------------
9. Subsequent Events
During April 2000, the Board of Directors of the Company approved the
Value Enhancement Plan. This plan allows Ford shareholders to exchange
their current Ford common and Class B shares for new Ford common and
Class B shares. In addition, shareholders will have the right to
receive either $20 cash per share or the equivalent value in new Ford
common shares or a combination of cash and new Ford shares. The total
cash distribution will be limited to $10 billion. This action is
subject to review by the Securities and Exchange Commission and
shareholder approval. This plan is expected to be completed during the
summer of 2000.
In addition, during April 2000, the Board of Directors of the Company
also approved an independence plan for Visteon Corporation whereby the
Company will distribute its 100% interest in Visteon to Ford common
and Class B shareholders. Shareholders will receive a distribution of
Visteon stock on June 28, 2000 based on the number of Ford shares they
own and the total number of Ford shares outstanding on June 12,
2000.The Board of Directors also declared a dividend in cash on shares
of the Company's stock held in certain employee savings plans. This
cash distribution will be equal, on a per share basis, to the value of
Visteon stock to be distibuted to other shareholders.
12
<PAGE>
<TABLE>
<CAPTION>
Additional Information
Schedule I
Ford Motor Company Savings and Stock Investment Plan for Salaried Employees
Item 27a - Schedule of Assets Held for Investment Purposes
As of December 30, 1999
-----------------------------------------------------------------------------------------------------------------------------------
(a) (b) (c) (d) (e)
Description of investment
Identity of issuer, including maturity date,
lessor, borrower or rate of interest, collateral,
similar party par or maturity value Cost** Current value
<S> <C> <C> <C> <C>
* Fidelity Investments Interest Income Fund, 1,872,912,595 units $ - $ 1,872,912,595
* Fidelity Investments T. Rowe Price Spectrum Growth Fund,
604,030 units 10,618,855
* Fidelity Investments Scudder International Fund, 490,016 units 34,668,638
* Fidelity Investments Vanguard LifeStrategy Conservative
Growth Fund, 644,146 units 9,733,052
* Fidelity Investments T. Rowe Price Spectrum Income Fund,
1,927,720 units 20,665,162
* Fidelity Investments Scudder International Bond Fund, 145,028 units 1,422,721
* Fidelity Investments Vanguard LifeStrategy Moderate
Growth Fund, 591,829 units 10,747,613
* Fidelity Investments T. Rowe Price New Horizons Funds, 2,414,878 units 65,515,637
* Fidelity Investments Scudder Global Fund, 384,090 units 11,972,099
* Fidelity Investments Vanguard LifeStrategy Growth Fund,
506,616 units 10,826,392
* Fidelity Investments T. Rowe Price International Stock Fund,
2,488,338 units 47,203,779
* Fidelity Investments Scudder Global Discovery Fund, 405,198 units 14,299,436
* Fidelity Investments Vanguard 500 Index Fund, 3,296,016 units 444,599,601
* Fidelity Investments T. Rowe Price International Discovery
Fund, 1,350,118 units 49,589,817
* Fidelity Investments Scudder Income Fund, 527,139 units 6,467,995
* Fidelity Investments Vanguard Value Index Fund, 1,298,267 units 29,561,533
* Fidelity Investments T. Rowe Price New Asia Fund, 3,503,919 units 35,074,226
* Fidelity Investments Scudder Growth and Income Fund, 1,278,257 units 33,899,389
* Fidelity Investments Vanguard Growth Index Fund, 6,356,338 units 250,249,014
* Fidelity Investments T. Rowe Price High Yield Fund, 3,440,442 units 26,999,508
* Fidelity Investments Scudder Greater Europe Growth Fund,
1,848,809 units 65,762,149
* Fidelity Investments Vanguard Explorer Fund, 204,576 units 13,837,525
* Fidelity Investments T. Rowe Price New Era Fund, 248,124 units 5,337,138
* Fidelity Investments Scudder Japan Fund, 4,047,425 units 66,215,865
* Fidelity Investments Vanguard International Value Fund, 220,693 units 6,428,795
* Fidelity Investments T. Rowe Price Latin America Fund, 1,563,062 units 16,896,703
* Barclays Global Investors Bond Fund, 4,111,292 units 62,409,410
* Ford Motor Company Ford Stock Fund, 472,118,453 units 3,801,842,969 7,969,359,481
* Comerica Bank, N. A. Common Stock Fund, 18,772,063 units 1,430,806,664
* Ford Motor Company Associates Stock Fund, 727,146 units 8,858,610
* Fidelity Investments Fidelity Funds, 2,059,718 units 87,373,243
* Fidelity Investments Fidelity Puritan Fund, 1,705,638 units 32,373,018
* Fidelity Investments Fidelity Trend Fund, 116,169 units 8,271,254
* Fidelity Investments Fidelity Magellan Fund, 2,780,734 units 378,374,414
* Fidelity Investments Fidelity Contrafund, 6,722,934 units 400,955,790
* Fidelity Investments Fidelity Equity-Income Fund, 1,312,057 units 69,722,688
* Fidelity Investments Fidelity Growth Company Fund, 3,703,107 units 311,320,177
* Fidelity Investments Fidelity Investment Grade Bond Fund,
4,169,138 units 28,808,745
* Fidelity Investments Fidelity Growth and Income Portfolio,
6,456,906 units 303,861,993
* Fidelity Investments Fidelity Value Fund, 915,297 units 39,476,770
* Fidelity Investments Fidelity Government Income Fund, 3,583,401 units 33,612,303
* Fidelity Investments Fidelity Retirement Growth Fund, 2,038,010 units 52,295,331
</TABLE>
13
<PAGE>
<TABLE>
<CAPTION>
Additional Information
Schedule I
Ford Motor Company Savings and Stock Investment Plan for Salaried Employees
Item 27a - Schedule of Assets Held for Investment Purposes
As of December 30, 1999
-----------------------------------------------------------------------------------------------------------------------------------
(a) (b) (c) (d) (e)
Description of investment
Identity of issuer, including maturity date,
lessor, borrower or rate of interest, collateral,
similar party par or maturity value Cost** Current value
<S> <C> <C> <C> <C>
* Fidelity Investments Fidelity Overseas Fund, 614,788 units 29,411,437
* Fidelity Investments Fidelity Europe Fund, 652,276 units 24,342,957
* Fidelity Investments Fidelity Pacific Basin Fund, 1,348,288 units 38,682,381
* Fidelity Investments Fidelity Real Estate Investment Portfolio Fund,
599,626 units 8,778,527
* Fidelity Investments Fidelity Balanced Fund, 907,223 units 13,898,656
* Fidelity Investments Fidelity International Growth and Income Fund,
312,480 units 9,365,036
* Fidelity Investments Fidelity Capital Appreciation Fund, 1,163,517 units 34,451,732
* Fidelity Investments Fidelity Canada Fund, 70,513 units 1,376,414
* Fidelity Investments Fidelity Utilities Fund, 1,497,682 units 38,235,832
* Fidelity Investments Fidelity Asset Manager, 1,068,915 units 19,603,900
* Fidelity Investments Fidelity Worldwide Fund, 821,961 units 16,291,274
* Fidelity Investments Fidelity Stock Selector, 1,171,819 units 37,216,966
* Fidelity Investments Fidelity Asset Manager Growth, 1,250,438 units 24,458,567
* Fidelity Investments Fidelity Asset Manager Income, 1,223,789 units 14,893,515
* Fidelity Investments Fidelity Dividend Growth Fund, 6,912,743 units 199,501,758
* Fidelity Investments Fidelity New Markets Income Fund, 602,374 units 6,638,166
* Fidelity Investments Fidelity Global Balanced Fund, 96,558 units 1,947,575
* Fidelity Investments Fidelity Small Capital Selector Fund, 1,744,680 units 27,618,278
* Fidelity Investments Fidelity International Bond Fund, 158,292
units 1,370,812
* Participant Loans Participant loans, interest rates varying from
6 to 12.5 percent 143,204,943
------------------
$ 15,070,673,854
------------------
</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 1999. Current values also
include interest and dividends receivable.
*Denotes party-in-interest
** Cost for participant directed funds are not required per Department of Labor
Reporting
14
<PAGE>
<TABLE>
<CAPTION>
Additional Information
Schedule II
Ford Motor Company Savings and Stock Investment Plan for Salaried Employees
Item 27d - Schedule of Reportable Transactions
For the Year Ended December 30, 1999
-----------------------------------------------------------------------------------------------------------------------------------
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>
REPORTING Single transaction in
CRITERION I excess of five percent
of current value of
plan assets.
None.
REPORTING Series of transactions
CRITERION II in other securities in
excess of five current
value of plan assets.
None.
REPORTING Series of transactions
CRITERION III in excess of five percent
of value of plan assets.
Fidelity Interest Income Fund
Investments 256 Purchases $ 4,575,946,910 $ 4,575,946,910 $ 4,575,946,910
253 Sales $ 4,651,684,667 4,651,684,667 4,651,684,667
T. Rowe Price New Asia
Fund
251 Purchases 404,568,203 393,634,524 $ 7,067,437
249 Sales 400,701,961 400,701,961
Scudder Japan Fund
251 Purchases 637,989,867 590,282,077 14,755,814
250 Sales 605,037,891 605,037,891
Ford Stock Fund
251 Purchases 4,444,230,618 3,580,630,808 865,318,479
252 Sales 4,445,949,287 4,445,949,287
</TABLE>
15
<PAGE>
<TABLE>
<CAPTION>
Additional Information
Schedule II
Ford Motor Company Savings and Stock Investment Plan for Salaried Employees
Item 27d - Schedule of Reportable Transactions
For the Year Ended December 30, 1999
-----------------------------------------------------------------------------------------------------------------------------------
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>
REPORTING Single transactions with
CRITERION IV a nonregulated entity in
excess percent of current
value of plan assets.
None.
</TABLE>
16
