Ford's Intercompany Adjustment

Ford (F) announced Q1 results and made much of the fact that they are not needing government assistance. They have made some progress in reducing costs both fixed and labour. Volvo is on the block and has immediately generated a non cash impairment charge. But when you read Ford Motor Credit's press release you get an interesting insight into how some inter-company accounting comes into play. Read this quote from credit's press release

".....During the quarter, Ford Motor Credit used $1.1 billion of cash to purchase a portion of Ford Motor Company's senior secured term loan debt. Ford Motor Credit distributed the term loan debt to its immediate parent, Ford Holdings LLC, whereupon it was forgiven."

But wen you read Ford automotive release there is no mention of shedding $1.1 Billion of indebtedness. If you can do this legitimately why not make more stuff disappear?