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The Company used the following methods and assumptions to determine the fair value of financial instruments that are not recognized at fair value as described below. 

## Cash and Cash Equivalents:  Carrying amounts approximate fair value. 

Financial Services Net Receivables:  For floating-rate loans, wholesale financings, and interest and other receivables, fair values approximate carrying values. For fixed-rate loans, fair values are estimated using discounted cash flow analysis based on current rates for comparable loans. Finance lease receivables and related allowance for credit losses provisions have been excluded from the accompanying table. 

Debt:  The carrying amounts of financial services commercial paper, variable-rate bank loans and variable-rate term notes approximate fair value. For fixed-rate debt, fair values are estimated using discounted cash flow analysis based on current rates for comparable debt. 

## Trade Receivables and Payables:  Carrying amounts approximate fair value. 

Fixed-rate loans and debt that are not carried at approximate fair value are as follows: 

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