DOCUMENT AND ENTITY INFORMATION
DOCUMENT AND ENTITY INFORMATION Document - shares | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2016 | Oct. 20, 2016 | |
Document Type | 10-Q | ||
Amendment Flag | false | ||
Document Period End Date | Sep. 30, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | Q3 | ||
Entity Registrant Name | FORD MOTOR CO | ||
Entity Central Index Key | 37,996 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Trading Symbol | F | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Common Stock [Member] | |||
Entity Common Stock, Shares Outstanding | 3,902,862,547 | ||
Class B Stock [Member] | |||
Entity Common Stock, Shares Outstanding | 70,852,076 |
CONSOLIDATED INCOME STATEMENT
CONSOLIDATED INCOME STATEMENT - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Revenues | ||||
Automotive | $ 33,331 | $ 35,818 | $ 105,520 | $ 102,723 |
Financial Services | 2,612 | 2,326 | 7,626 | 6,584 |
Total revenues | 35,943 | 38,144 | 113,146 | 109,307 |
Costs and expenses | ||||
Cost of sales | 30,446 | 31,213 | 93,075 | 90,011 |
Selling, administrative, and other expenses | 2,535 | 2,386 | 7,758 | 7,402 |
Financial Services interest, operating, and other expenses | 2,200 | 1,905 | 6,518 | 5,363 |
Total costs and expenses | 35,181 | 35,504 | 107,351 | 102,776 |
Interest expense on Automotive debt | 238 | 206 | 650 | 561 |
Equity in net income of affiliated companies | 403 | 314 | 1,342 | 1,237 |
Income before income taxes | 1,387 | 3,291 | 7,913 | 8,356 |
Provision for/(Benefit from) income taxes | 426 | 1,099 | 2,525 | 2,849 |
Net income | 961 | 2,192 | 5,388 | 5,507 |
Less: Income/(Loss) attributable to noncontrolling interests | 4 | 0 | 9 | 2 |
Net income attributable to Ford Motor Company | $ 957 | $ 2,192 | $ 5,379 | $ 5,505 |
Basic income | ||||
Basic income (in dollars per share) | $ 0.24 | $ 0.55 | $ 1.35 | $ 1.39 |
Diluted income | ||||
Diluted income (in dollars per share) | 0.24 | 0.55 | 1.35 | 1.38 |
Cash dividends declared | $ 0.15 | $ 0.15 | $ 0.70 | $ 0.45 |
Operating Segments [Member] | Non-Financial Services [Member] | ||||
Costs and expenses | ||||
Interest income and other income/(loss), net | $ 328 | $ 446 | $ 1,121 | $ 908 |
Operating Segments [Member] | Financial Services [Member] | ||||
Revenues | ||||
Total revenues | 2,612 | 2,326 | 7,626 | 6,584 |
Costs and expenses | ||||
Interest income and other income/(loss), net | 132 | 97 | 305 | 241 |
Equity in net income of affiliated companies | 8 | 8 | 23 | 24 |
Income before income taxes | $ 552 | $ 526 | $ 1,436 | $ 1,486 |
CONSOLIDATED STATEMENT OF COMPR
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 961 | $ 2,192 | $ 5,388 | $ 5,507 |
Foreign currency translation | (184) | (882) | (306) | (816) |
Marketable Securities | 0 | 0 | 6 | 0 |
Derivative instruments | 99 | 374 | 456 | 208 |
Pension and other postretirement benefits | 14 | 133 | 53 | 1 |
Total other comprehensive income/(loss), net of tax | (71) | (375) | 209 | (607) |
Comprehensive income | 890 | 1,817 | 5,597 | 4,900 |
Less: Comprehensive income/(loss) attributable to noncontrolling interests | 3 | 1 | 7 | 2 |
Comprehensive income attributable to Ford Motor Company | $ 887 | $ 1,816 | $ 5,590 | $ 4,898 |
CONSOLIDATED BALANCE SHEET
CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and cash equivalents (Note 4) | $ 13,340 | $ 14,272 |
Marketable securities (Note 4) | 20,825 | 20,904 |
Financial Services finance receivables, net (Note 5) | 45,550 | 45,137 |
Trade and other receivables, less allowances of $359 and $372 | 10,029 | 11,042 |
Inventories (Note 7) | 10,219 | 8,319 |
Other assets | 3,552 | 2,913 |
Total current assets | 103,515 | 102,587 |
Financial Services finance receivables, net (Note 5) | 49,614 | 45,554 |
Net investment in operating leases | 29,196 | 27,093 |
Net property | 32,257 | 30,163 |
Equity in net assets of affiliated companies | 3,795 | 3,224 |
Deferred income taxes | 9,475 | 11,509 |
Other assets | 7,111 | 4,795 |
Total assets | 234,963 | 224,925 |
Financial Services finance receivables, net | 95,164 | 90,691 |
LIABILITIES | ||
Payables | 22,384 | 20,272 |
Other liabilities and deferred revenue (Note 8) | 19,531 | 19,089 |
Total current liabilities | 89,188 | 82,336 |
Other liabilities and deferred revenue (Note 8) | 23,652 | 23,457 |
Deferred income taxes | 577 | 502 |
Total liabilities | 203,368 | 196,174 |
Debt | 137,224 | |
Redeemable noncontrolling interest | 96 | 94 |
EQUITY | ||
Capital in excess of par value of stock | 21,598 | 21,421 |
Retained earnings | 17,013 | 14,414 |
Accumulated other comprehensive income/(loss) (Note 12) | (6,046) | (6,257) |
Treasury stock | (1,122) | (977) |
Total equity attributable to Ford Motor Company | 31,484 | 28,642 |
Equity attributable to noncontrolling interests | 15 | 15 |
Total equity | 31,499 | 28,657 |
Total liabilities and equity | 234,963 | 224,925 |
Common Stock [Member] | ||
EQUITY | ||
Common and Class B Stock | 40 | 40 |
Class B Stock [Member] | ||
EQUITY | ||
Common and Class B Stock | 1 | 1 |
Variable Interest Entity, Primary Beneficiary [Member] | ||
ASSETS | ||
Cash and cash equivalents (Note 4) | 2,318 | 3,949 |
Net investment in operating leases | 9,951 | 13,309 |
Financial Services finance receivables, net | 47,627 | 45,902 |
Other assets | 7 | 85 |
LIABILITIES | ||
Other liabilities and deferred revenue | 10 | 19 |
Debt | 39,123 | 43,086 |
Operating Segments [Member] | Automotive [Member] | ||
ASSETS | ||
Cash and cash equivalents (Note 4) | 7,655 | 5,386 |
Total assets | 97,269 | |
LIABILITIES | ||
Debt payable within one year | 2,472 | 1,779 |
Long-term Debt | 10,675 | 11,060 |
Debt | 13,147 | 12,839 |
Operating Segments [Member] | Financial Services [Member] | ||
ASSETS | ||
Cash and cash equivalents (Note 4) | 5,675 | 8,886 |
Total assets | 142,979 | |
LIABILITIES | ||
Debt payable within one year | 44,801 | 41,196 |
Long-term Debt | 79,276 | 78,819 |
Debt | $ 124,077 | $ 120,015 |
CONSOLIDATED BALANCE SHEET (Par
CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) shares in Millions, $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
ASSETS | ||
Allowance for trade and other receivables | $ 359 | $ 372 |
Common Stock [Member] | ||
EQUITY | ||
Common Stock, par value (in dollars per share) | $ 0.01 | |
Common Stock, shares issued (in shares) | 3,976 | |
Common Stock, Shares Authorized (in shares) | 6,000 | |
Class B Stock [Member] | ||
EQUITY | ||
Common Stock, par value (in dollars per share) | $ 0.01 | |
Common Stock, shares issued (in shares) | 71 | |
Common Stock, Shares Authorized (in shares) | 530 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract] | ||
Net cash provided by/(used in) operating activities | $ 16,994 | $ 14,078 |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations [Abstract] | ||
Capital spending | (4,912) | (5,358) |
Acquisitions of finance receivables and operating leases | (43,746) | (43,762) |
Collections of finance receivables and operating leases | 30,254 | 28,632 |
Purchases of equity and debt securities | (22,049) | (29,493) |
Sales and maturities of equity and debt securities | 22,022 | 32,874 |
Settlements of derivatives | 330 | 26 |
Other | 43 | 417 |
Net cash provided by/(used in) investing activities | (18,058) | (16,664) |
Net Cash Provided by (Used in) Financing Activities, Continuing Operations [Abstract] | ||
Cash dividends | (2,780) | (1,785) |
Purchases of Common Stock | (145) | (129) |
Net changes in short-term debt | 1,200 | 844 |
Proceeds from issuance of other debt | 31,956 | 35,876 |
Principal payments on other debt | (30,019) | (27,366) |
Other | (44) | (303) |
Net cash provided by/(used in) financing activities | 168 | 7,137 |
Effect of exchange rate changes on cash and cash equivalents | (36) | (622) |
Cash and cash equivalents at January 1 | 14,272 | 10,757 |
Net increase/(decrease) in cash and cash equivalents | (932) | 3,929 |
Cash and cash equivalents at September 30 | $ 13,340 | $ 14,686 |
CONSOLIDATED STATEMENT OF EQUIT
CONSOLIDATED STATEMENT OF EQUITY - USD ($) $ in Millions | Total | Parent [Member] | Capital Stock [Member] | Capital in Excess of Par Value of Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Equity Attributable to Non-controlling Interests [Member] |
Equity/(deficit) attributable to Ford Motor Company at Dec. 31, 2014 | $ 24,438 | $ 40 | $ 21,089 | $ 9,422 | $ (5,265) | $ (848) | ||
Equity/(Deficit) attributable to noncontrolling interests at Dec. 31, 2014 | 27 | |||||||
Total equity/(deficit) at Dec. 31, 2014 | 24,465 | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income attributable to Ford Motor Company | 5,505 | 5,505 | ||||||
Income/(Loss) attributable to noncontrolling interests | 2 | |||||||
Net income | 5,507 | |||||||
Other comprehensive income/(loss), net of tax | (607) | $ (607) | (607) | |||||
Common stock issued (including share-based compensation impacts) | 266 | 266 | 1 | 265 | ||||
Treasury stock/other | (133) | (129) | (129) | $ (4) | ||||
Cash dividends declared | (1,791) | (1,785) | (1,785) | (6) | ||||
Equity/(deficit) attributable to Ford Motor Company at Sep. 30, 2015 | 27,688 | 41 | 21,354 | 13,142 | (5,872) | (977) | ||
Equity/(Deficit) attributable to noncontrolling interests at Sep. 30, 2015 | 19 | |||||||
Total equity/(deficit) at Sep. 30, 2015 | 27,707 | |||||||
Equity/(deficit) attributable to Ford Motor Company at Dec. 31, 2015 | 28,642 | 41 | 21,421 | 14,414 | (6,257) | (977) | ||
Equity/(Deficit) attributable to noncontrolling interests at Dec. 31, 2015 | 15 | |||||||
Total equity/(deficit) at Dec. 31, 2015 | 28,657 | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income attributable to Ford Motor Company | 5,379 | 5,379 | ||||||
Income/(Loss) attributable to noncontrolling interests | 9 | |||||||
Net income | 5,388 | |||||||
Other comprehensive income/(loss), net of tax | 209 | 211 | 211 | (2) | ||||
Common stock issued (including share-based compensation impacts) | 177 | 177 | 177 | |||||
Treasury stock/other | (147) | (145) | (145) | (2) | ||||
Cash dividends declared | (2,785) | $ (2,780) | (2,780) | $ (5) | ||||
Equity/(deficit) attributable to Ford Motor Company at Sep. 30, 2016 | 31,484 | $ 41 | $ 21,598 | $ 17,013 | $ (6,046) | $ (1,122) | ||
Equity/(Deficit) attributable to noncontrolling interests at Sep. 30, 2016 | 15 | |||||||
Total equity/(deficit) at Sep. 30, 2016 | $ 31,499 |
Presentation (Notes)
Presentation (Notes) | 9 Months Ended |
Sep. 30, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
PRESENTATION | PRESENTATION For purposes of this report, “Ford,” the “Company,” “we,” “our,” “us” or similar references mean Ford Motor Company, our consolidated subsidiaries, and our consolidated VIEs of which we are the primary beneficiary, unless the context requires otherwise. Our financial statements are presented in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information, instructions to Quarterly Report on Form 10-Q, and Rule 10-01 of Regulation S-X. In the opinion of management, these unaudited financial statements reflect a fair statement of our results of operations and financial condition for the periods, and at the dates, presented. The results for interim periods are not necessarily indicative of results that may be expected for any other interim period or for the full year. Reference should be made to the financial statements contained in our Annual Report on Form 10-K for the year ended December 31, 2015 (“ 2015 Form 10-K Report”). Change in presentation. Our core Automotive business includes the designing, manufacturing, marketing, and servicing of a full line of Ford cars, trucks, SUVs, and electrified vehicles, as well as Lincoln luxury vehicles. We provide vehicle-related financing and leasing activities through Ford Motor Credit Company LLC (“Ford Credit”). At the same time, we are pursuing emerging opportunities in connectivity, mobility, autonomous vehicles, the customer experience, and data and analytics. Prior to the second quarter of 2016, we presented our financial statements on both a consolidated basis and on a “sector” basis for our Automotive and Financial Services sectors. With our expansion into mobility services, including the formation in March 2016 of the Ford Smart Mobility LLC subsidiary, we reevaluated our disclosures and concluded we should eliminate our two-sector financial presentation and, reflecting the manner in which our Chief Operating Decision Maker manages our business, changed our segment presentation beginning with the second quarter of 2016 to be Automotive, Financial Services, and All Other. See Note 3 for a description of our segment presentation. In addition, as a result of the elimination of our two-sector financial presentation, at June 30, 2016 we changed the presentation of our consolidated balance sheet and certain notes to the consolidated financial statements to classify our assets and liabilities as current or non-current. We reclassified certain prior year amounts in our consolidated financial statements to conform to the current year presentation. |
New Accounting Standards (Notes
New Accounting Standards (Notes) | 9 Months Ended |
Sep. 30, 2016 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
NEW ACCOUNTING STANDARDS | NEW ACCOUNTING STANDARDS Adoption of New Accounting Standards Accounting Standard Update (“ASU”) 2015-17, Income Taxes - Balance Sheet Classification of Deferred Taxes . On April 1, 2016, we retrospectively adopted the new accounting standard which requires deferred tax assets and liabilities to be classified as non-current in the consolidated balance sheet. The impact of the change resulted in the classification of all deferred taxes as non-current. We also adopted the following standards during 2016 , none of which have a material impact to our financial statements or financial statement disclosures: Standard Effective Date 2015-16 Business Combinations - Simplifying the Accounting for Measurement-Period Adjustments January 1, 2016 2015-09 Insurance - Disclosures about Short-Duration Contracts January 1, 2016 2015-05 Internal-Use Software - Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement January 1, 2016 2015-02 Consolidation - Amendments to the Consolidation Analysis January 1, 2016 2015-01 Extraordinary and Unusual Items - Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items January 1, 2016 2014-12 Stock Compensation - Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period January 1, 2016 NOTE 2. NEW ACCOUNTING STANDARDS (Continued) Accounting Standards Issued But Not Yet Adopted ASU 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments . In June 2016, the Financial Accounting Standards Board (“FASB”) issued a new accounting standard which replaces the current incurred loss impairment method with a method that reflects expected credit losses. The new standard is effective as of January 1, 2020, and early adoption is permitted as of January 1, 2019. We are assessing the potential impact to our financial statements and disclosures. ASU 2016-09, Stock Compensation - Improvements to Employee Share-Based Payment Accounting . In March 2016, the FASB issued a new accounting standard which simplifies accounting for share-based payment transactions, including income tax consequences and the classification of the tax impact on the statement of cash flows . We will adopt the standard effective January 1, 2017 by recognizing a one-time adjustment to retained earnings and deferred tax assets related to cumulative excess tax benefits previously unrecognized. We will also change classification of tax-related items on the consolidated statement of cash flows. ASU 2016-02, Leases . In February 2016, the FASB issued a new accounting standard which provides guidance on the recognition, measurement, presentation, and disclosure of leases. The new standard supersedes present U.S. GAAP guidance on leases and requires substantially all leases to be reported on the balance sheet as right-of-use assets and lease liabilities, as well as additional disclosures. The new standard is effective as of January 1, 2019, and early adoption is permitted. We are assessing the potential impact to our financial statements and disclosures. ASU 2014-09, Revenue - Revenue from Contracts with Customers. In May 2014, the FASB issued a new accounting standard that requires recognition of revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. The FASB has also issued several updates to ASU 2014-09. The new standard supersedes U.S. GAAP guidance on revenue recognition and requires the use of more estimates and judgments than the present standards. It also requires additional disclosures. We plan to adopt the new revenue guidance effective January 1, 2017 by recognizing the cumulative effect of initially applying the new standard as an adjustment to the opening balance of equity. We do not expect a material impact to our financial statements or disclosures. |
Segment Information (Notes)
Segment Information (Notes) | 9 Months Ended |
Sep. 30, 2016 | |
Segment Reporting [Abstract] | |
SEGMENT INFORMATION | SEGMENT INFORMATION In conjunction with our expanded business model to become an automotive, financial services, and mobility company, beginning with the second quarter of 2016, we changed our reportable segment disclosures. Reflecting the manner in which our Chief Operating Decision Maker manages our businesses, including resource allocation and performance assessment, we have four operating segments that represent the primary businesses reported in our consolidated financial statements. These operating segments are: Automotive, Financial Services, Ford Smart Mobility LLC, and Central Treasury Operations. Automotive and Financial Services comprise separate reportable segments. Ford Smart Mobility LLC and Central Treasury Operations did not meet the quantitative thresholds in this reporting period to qualify as reportable segments; therefore, these operating segments are combined and disclosed below as All Other. Prior-period amounts were adjusted retrospectively to reflect the change to our reportable segments. Below is a description of our reportable segments and the business activities included in All Other. Automotive Segment Our Automotive segment primarily includes the sale of Ford and Lincoln brand vehicles, service parts, and accessories worldwide, together with the associated costs to develop, manufacture, distribute, and service the vehicles, parts, and accessories. The segment includes 5 regional business units: North America, South America, Europe, Middle East & Africa, and Asia Pacific. Financial Services Segment The Financial Services segment primarily includes our vehicle-related financing and leasing activities at Ford Credit. All Other All Other is a combination of operating segments that did not meet the quantitative thresholds in this reporting period to qualify as reportable segments. All Other consists of our Central Treasury Operations (formerly Other Automotive) and Ford Smart Mobility LLC. The Central Treasury Operations segment is primarily engaged in decision making for investments, risk management activities, and providing financing for the Automotive segment. Interest income (excluding interest earned on our extended service contract portfolio that is included in our Automotive segment), interest expense, gains and losses on cash equivalents and marketable securities, and foreign exchange derivatives associated with intercompany lending, are included in the results of Central Treasury Operations. The underlying assets and liabilities, primarily cash and cash equivalents, marketable securities, debt, and derivatives, remain with the Automotive segment. Ford Smart Mobility LLC is a new subsidiary formed to design, build, grow, and invest in emerging mobility services. Designed to compete like a start-up company, Ford Smart Mobility LLC will design and build mobility services on its own, and collaborate with start-ups and tech companies. Special Items In addition, our results include Special Items that consist of (i) pension and other postretirement employee benefits (“OPEB”) remeasurement gains and losses, (ii) significant personnel and dealer-related costs stemming from our efforts to match production capacity and cost structure to market demand and changing model mix, and (iii) certain infrequent significant items that we generally do not consider to be indicative of our ongoing operating activities. Our management excludes these items from its review of the results of the operating segments for purposes of measuring segment profitability and allocating resources. Special items are presented as a separate reconciling item. NOTE 3. SEGMENT INFORMATION (Continued) Key operating data for our business segments for the periods ended or at September 30 were as follows (in millions): Automotive Financial Services All Other Special Items Adjustments Total Third Quarter 2016 Revenues $ 33,331 $ 2,612 $ — $ — $ — $ 35,943 Pre-tax results - income/(loss) 1,084 552 (223 ) (26 ) — 1,387 Equity in net income/(loss) of affiliated companies 395 8 — — — 403 Cash, cash equivalents, and marketable securities 24,300 9,855 10 — — 34,165 Total assets 97,269 142,979 67 — (5,352 ) (a) 234,963 Debt 13,147 124,077 — — — 137,224 Operating cash flows (1,954 ) 5,953 — — 1,161 (b) 5,160 Third Quarter 2015 Revenues $ 35,818 $ 2,326 $ — $ — $ — $ 38,144 Pre-tax results - income/(loss) 2,762 526 (163 ) 166 — 3,291 Equity in net income/(loss) of affiliated companies 306 8 — — — 314 Cash, cash equivalents, and marketable securities 22,177 9,670 — — — 31,847 Total assets 92,873 130,626 — — (3,921 ) (a) 219,578 Debt 12,798 113,627 — — — 126,425 Operating cash flows 2,787 2,167 — — 1,501 (b) 6,455 Automotive Financial Services All Other Special Items Adjustments Total First Nine Months 2016 Revenues $ 105,520 $ 7,626 $ — $ — $ — $ 113,146 Pre-tax results - income/(loss) 7,380 1,436 (573 ) (330 ) — 7,913 Equity in net income/(loss) of affiliated companies 1,319 23 — — — 1,342 Operating cash flows 4,917 8,761 — — 3,316 (b) 16,994 First Nine Months 2015 Revenues $ 102,723 $ 6,584 $ — $ — $ — $ 109,307 Pre-tax results - income/(loss) 7,246 1,486 (542 ) 166 — 8,356 Equity in net income/(loss) of affiliated companies 1,213 24 — — — 1,237 Operating cash flows 5,199 5,329 — — 3,550 (b) 14,078 __________ (a) Includes eliminations of intersegment transactions occurring in the ordinary course of business and deferred tax netting. (b) We measure and evaluate our Automotive segment operating cash flow on a different basis than Net cash provided by/(used in) operating activities in our consolidated statement of cash flows. Automotive segment operating cash flow includes additional elements management considers to be related to our Automotive operating activities, primarily capital spending and non-designated derivatives, and excludes outflows for funded pension contributions, separation payments, and other items that are considered operating cash flows under U.S. GAAP. The table below quantifies these reconciling adjustments to Net cash provided by/(used in) operating activities for the periods ended September 30 (in millions): Third Quarter First Nine Months 2016 2015 2016 2015 Automotive capital spending $ 1,696 $ 1,819 $ 4,879 $ 5,324 Net cash flows from non-designated derivatives (246 ) 119 (322 ) 90 Funded pension contributions (246 ) (89 ) (835 ) (942 ) Separation payments (40 ) (90 ) (198 ) (600 ) Other (3 ) (258 ) (208 ) (322 ) Total operating cash flow adjustments $ 1,161 $ 1,501 $ 3,316 $ 3,550 |
Cash, Cash Equivalents, and Mar
Cash, Cash Equivalents, and Marketable Securities (Notes) | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES | CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES The following tables categorize the fair values of cash, cash equivalents, and marketable securities measured at fair value on a recurring basis on our balance sheet (in millions): September 30, 2016 Fair Value Level Automotive Financial Services All Other Consolidated Cash and cash equivalents U.S. government 1 $ 599 $ — $ — $ 599 U.S. government agencies 2 — 4 — 4 Non-U.S. government and agencies 2 551 280 — 831 Corporate debt 2 60 50 — 110 Total marketable securities classified as cash equivalents 1,210 334 — 1,544 Cash, time deposits, and money market funds 6,445 5,341 10 11,796 Total cash and cash equivalents $ 7,655 $ 5,675 $ 10 $ 13,340 Marketable securities U.S. government 1 $ 3,982 $ 1,724 $ — $ 5,706 U.S. government agencies 2 3,284 1,354 — 4,638 Non-U.S. government and agencies 2 5,423 520 — 5,943 Corporate debt 2 3,709 540 — 4,249 Equities 1 198 — — 198 Other marketable securities 2 49 42 — 91 Total marketable securities $ 16,645 $ 4,180 $ — $ 20,825 December 31, 2015 Fair Value Level Automotive Financial Services All Other Consolidated Cash and cash equivalents U.S. government 1 $ 115 $ — $ — $ 115 U.S. government agencies 2 22 — — 22 Non-U.S. government and agencies 2 173 266 — 439 Corporate debt 2 20 — — 20 Total marketable securities classified as cash equivalents 330 266 — 596 Cash, time deposits, and money market funds 5,056 8,620 — 13,676 Total cash and cash equivalents $ 5,386 $ 8,886 $ — $ 14,272 Marketable securities U.S. government 1 $ 1,623 $ 298 $ — $ 1,921 U.S. government agencies 2 5,240 1,169 — 6,409 Non-U.S. government and agencies 2 7,451 832 — 8,283 Corporate debt 2 3,279 384 — 3,663 Equities 1 240 — — 240 Other marketable securities 2 348 40 — 388 Total marketable securities $ 18,181 $ 2,723 $ — $ 20,904 NOTE 4. CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES (Continued) The following tables present cash equivalents and marketable securities accounted for as available-for-sale (“AFS”) securities on our balance sheet (in millions): September 30, 2016 Fair Value of Securities with Contractual Maturities: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Less than 1 Year 1-5 Years Automotive U.S. government $ 447 $ — $ — $ 447 $ — $ 447 U.S. government agencies 100 — — 100 — 100 Non-U.S. government and agencies 77 — — 77 — 77 Corporate debt 337 — — 337 247 90 Total $ 961 $ — $ — $ 961 $ 247 $ 714 December 31, 2015 Fair Value of Securities with Contractual Maturities: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Less than 1 Year 1-5 Years Automotive U.S. government $ — $ — $ — $ — $ — $ — U.S. government agencies — — — — — — Non-U.S. government and agencies 82 — (12 ) 70 — 70 Corporate debt — — — — — — Total $ 82 $ — $ (12 ) $ 70 $ — $ 70 Sales proceeds for investments classified as AFS and sold prior to maturity were $69 million and $0 for the nine months ended September 30, 2016 and 2015 , respectively. Gross realized gains from the sale of AFS securities were $1 million and $0 for the nine months ended September 30, 2016 and 2015 , respectively. There were no gross realized losses from the sale of AFS securities for the nine months ended September 30, 2016 and 2015 . We determine other-than-temporary impairments on cash equivalents and marketable securities using a specific identification method. During the nine months ended September 30, 2016 and 2015 , we did not recognize any other-than-temporary impairment loss. |
Financial Services Finance Rece
Financial Services Finance Receivables (Notes) | 9 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
FINANCIAL SERVICES FINANCE RECEIVABLES | FINANCIAL SERVICES FINANCE RECEIVABLES Our Financial Services, primarily Ford Credit, manages finance receivables as “consumer” and “non-consumer” portfolios. The receivables are generally secured by the vehicles, inventory, or other property being financed. Finance receivables, net were as follows (in millions): September 30, December 31, Consumer Retail financing, gross $ 67,894 $ 62,068 Unearned interest supplements (2,785 ) (2,119 ) Consumer finance receivables 65,109 59,949 Non-Consumer Dealer financing 30,533 31,115 Non-Consumer finance receivables 30,533 31,115 Total recorded investment $ 95,642 $ 91,064 Recorded investment in finance receivables $ 95,642 $ 91,064 Allowance for credit losses (478 ) (373 ) Finance receivables, net $ 95,164 $ 90,691 Current portion $ 45,550 $ 45,137 Non-current portion 49,614 45,554 Finance receivables, net $ 95,164 $ 90,691 Net finance receivables subject to fair value (a) $ 93,033 $ 88,876 Fair value 94,327 90,048 __________ (a) At September 30, 2016 and December 31, 2015 , excludes $2.1 billion and $1.8 billion , respectively, of certain receivables (primarily direct financing leases) that are not subject to fair value disclosure requirements. The fair value of finance receivables is categorized within Level 3 of the fair value hierarchy. Excluded from finance receivables at September 30, 2016 and December 31, 2015 , was $206 million and $209 million , respectively, of accrued uncollected interest, which are reported as Other assets in the current assets section of our consolidated balance sheet. Included in the recorded investment in finance receivables at September 30, 2016 and December 31, 2015 were consumer receivables of $29.9 billion and $27.6 billion , respectively, and non-consumer receivables of $23.3 billion and $26.1 billion , respectively, that have been sold for legal purposes in securitization transactions but continue to be reported in our consolidated financial statements. The receivables are available only for payment of the debt issued by, and other obligations of, the securitization entities that are parties to those securitization transactions; they are not available to pay the other obligations or the claims of Ford Credit’s other creditors. Ford Credit holds the right to receive the excess cash flows not needed to pay the debt issued by, and other obligations of, the securitization entities that are parties to those securitization transactions. NOTE 5. FINANCIAL SERVICES FINANCE RECEIVABLES (Continued) Aging For all finance receivables, we define “past due” as any payment, including principal and interest, that is at least 31 days past the contractual due date. The recorded investment of consumer receivables greater than 90 days past due and still accruing interest was $24 million and $16 million at September 30, 2016 and December 31, 2015 , respectively. The recorded investment of non-consumer receivables greater than 90 days past due and still accruing interest was de minimis and $1 million at September 30, 2016 and December 31, 2015 , respectively. The aging analysis of our finance receivables balances were as follows (in millions): September 30, December 31, Consumer 31-60 days past due $ 652 $ 708 61-90 days past due 112 108 91-120 days past due 36 27 Greater than 120 days past due 39 38 Total past due 839 881 Current 64,270 59,068 Consumer finance receivables 65,109 59,949 Non-Consumer Total past due 71 116 Current 30,462 30,999 Non-Consumer finance receivables 30,533 31,115 Total recorded investment $ 95,642 $ 91,064 Credit Quality Consumer Portfolio. Credit quality ratings for consumer receivables are based on aging. Refer to the aging table above. Consumer receivables credit quality ratings are as follows: • Pass – current to 60 days past due • Special Mention – 61 to 120 days past due and in intensified collection status • Substandard – greater than 120 days past due and for which the uncollectible portion of the receivables has already been charged off, as measured using the fair value of collateral less costs to sell Non-Consumer Portfolio. Dealers are assigned to one of four groups according to risk ratings as follows: • Group I – strong to superior financial metrics • Group II – fair to favorable financial metrics • Group III – marginal to weak financial metrics • Group IV – poor financial metrics, including dealers classified as uncollectible NOTE 5. FINANCIAL SERVICES FINANCE RECEIVABLES (Continued) The credit quality analysis of our dealer financing receivables was as follows (in millions): September 30, December 31, Dealer Financing Group I $ 23,162 $ 22,146 Group II 5,847 7,175 Group III 1,399 1,683 Group IV 125 111 Total recorded investment $ 30,533 $ 31,115 Impaired Receivables Impaired consumer receivables include accounts that have been rewritten or modified in reorganization proceedings pursuant to the U.S. Bankruptcy Code that are considered to be troubled debt restructurings (“TDRs”), as well as all accounts greater than 120 days past due. Impaired non-consumer receivables represent accounts with dealers that have weak or poor financial metrics or dealer financing that has been modified in TDRs. The recorded investment of consumer receivables that were impaired at September 30, 2016 and December 31, 2015 was $366 million , or 0.6% of consumer receivables, and $375 million , or 0.6% of consumer receivables, respectively. The recorded investment of non-consumer receivables that were impaired at September 30, 2016 and December 31, 2015 was $140 million , or 0.5% of non-consumer receivables, and $134 million , or 0.4% of non-consumer receivables, respectively. Impaired finance receivables are evaluated both collectively and specifically. |
Financial Services Allowance fo
Financial Services Allowance for Credit Losses (Notes) | 9 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
FINANCIAL SERVICES ALLOWANCE FOR CREDIT LOSSES | FINANCIAL SERVICES ALLOWANCE FOR CREDIT LOSSES An analysis of the allowance for credit losses related to finance receivables for the periods ended September 30 was as follows (in millions): Third Quarter 2016 First Nine Months 2016 Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 432 $ 17 $ 449 $ 357 $ 16 $ 373 Charge-offs (108 ) (5 ) (113 ) (304 ) (7 ) (311 ) Recoveries 29 1 30 89 4 93 Provision for credit losses 112 1 113 323 1 324 Other (a) (1 ) — (1 ) (1 ) — (1 ) Ending balance (b) $ 464 $ 14 $ 478 $ 464 $ 14 $ 478 Analysis of ending balance of allowance for credit losses Collective impairment allowance $ 445 $ 12 $ 457 Specific impairment allowance 19 2 21 Ending balance (b) 464 14 478 Analysis of ending balance of finance receivables Collectively evaluated for impairment 64,743 30,393 95,136 Specifically evaluated for impairment 366 140 506 Recorded investment 65,109 30,533 95,642 Ending balance, net of allowance for credit losses $ 64,645 $ 30,519 $ 95,164 __________ (a) Primarily represents amounts related to translation adjustments. (b) Total allowance, including reserves for operating leases, was $541 million . Third Quarter 2015 First Nine Months 2015 Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 322 $ 13 $ 335 $ 305 $ 16 $ 321 Charge-offs (85 ) (2 ) (87 ) (235 ) (3 ) (238 ) Recoveries 29 1 30 90 4 94 Provision for credit losses 80 2 82 190 (2 ) 188 Other (a) (4 ) — (4 ) (8 ) (1 ) (9 ) Ending balance (b) $ 342 $ 14 $ 356 $ 342 $ 14 $ 356 Analysis of ending balance of allowance for credit losses Collective impairment allowance $ 323 $ 12 $ 335 Specific impairment allowance 19 2 21 Ending balance (b) 342 14 356 Analysis of ending balance of finance receivables Collectively evaluated for impairment 58,749 26,311 85,060 Specifically evaluated for impairment 375 129 504 Recorded investment 59,124 26,440 85,564 Ending balance, net of allowance for credit losses $ 58,782 $ 26,426 $ 85,208 __________ (a) Primarily represents amounts related to translation adjustments. (b) Total allowance, including reserves for operating leases, was $403 million . |
Inventories (Notes)
Inventories (Notes) | 9 Months Ended |
Sep. 30, 2016 | |
Inventory Disclosure [Abstract] | |
INVENTORIES | INVENTORIES All inventories are stated at the lower of cost and net realizable value. Cost for a substantial portion of U.S. inventories is determined on a last-in, first-out (“LIFO”) basis. LIFO was used for 32% and 27% of total inventories at September 30, 2016 and December 31, 2015 , respectively. Cost of other inventories is determined by costing methods that approximate a first-in, first-out (“FIFO”) basis. Inventories were as follows (in millions): September 30, December 31, Raw materials, work-in-process, and supplies $ 4,335 $ 4,005 Finished products 6,823 5,254 Total inventories under FIFO 11,158 9,259 LIFO adjustment (939 ) (940 ) Total inventories $ 10,219 $ 8,319 |
Other Liabilities and Deferred
Other Liabilities and Deferred Revenue (Notes) | 9 Months Ended |
Sep. 30, 2016 | |
Other Liabilities [Abstract] | |
OTHER LIABILITIES AND DEFERRED REVENUE | OTHER LIABILITIES AND DEFERRED REVENUE Other liabilities and deferred revenue were as follows (in millions): September 30, December 31, Current Dealer and dealers’ customer allowances and claims $ 9,050 $ 8,122 Deferred revenue 4,715 4,675 Employee benefit plans 1,505 1,562 Accrued interest 761 840 OPEB 357 354 Pension (a) 268 249 Other 2,875 3,287 Total current other liabilities and deferred revenue $ 19,531 $ 19,089 Non-current Pension (a) $ 9,024 $ 9,543 OPEB 5,362 5,347 Dealer and dealers’ customer allowances and claims 3,146 2,731 Deferred revenue 3,639 3,285 Employee benefit plans 1,112 1,041 Other 1,369 1,510 Total non-current other liabilities and deferred revenue $ 23,652 $ 23,457 __________ (a) Balances at September 30, 2016 reflect pension liabilities at December 31, 2015 , updated for service and interest cost, expected return on assets, separation expense, actual benefit payments, and cash contributions. The discount rate and rate of expected return assumptions are unchanged from year-end 2015 . Included in Other assets are pension assets of $2.3 billion and $1.6 billion at September 30, 2016 and December 31, 2015 , respectively. |
Retirement Benefits (Notes)
Retirement Benefits (Notes) | 9 Months Ended |
Sep. 30, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
RETIREMENT BENEFITS | RETIREMENT BENEFITS Defined Benefit Plans - Expense The pre-tax expense for our defined benefit pension and OPEB plans for the periods ended September 30 was as follows (in millions): Third Quarter Pension Benefits U.S. Plans Non-U.S. Plans Worldwide OPEB 2016 2015 2016 2015 2016 2015 Service cost $ 128 $ 147 $ 116 $ 133 $ 13 $ 15 Interest cost 381 454 190 236 49 59 Expected return on assets (673 ) (732 ) (329 ) (372 ) — — Amortization of prior service costs/(credits) 43 38 9 13 (35 ) (51 ) Net remeasurement (gain)/loss — — — — — — Separation programs/other 6 4 16 11 (1 ) — Net periodic benefit cost/(income) $ (115 ) $ (89 ) $ 2 $ 21 $ 26 $ 23 First Nine Months Pension Benefits U.S. Plans Non-U.S. Plans Worldwide OPEB 2016 2015 2016 2015 2016 2015 Service cost $ 383 $ 440 $ 358 $ 401 $ 37 $ 45 Interest cost 1,143 1,363 587 707 146 178 Expected return on assets (2,020 ) (2,196 ) (1,018 ) (1,116 ) — — Amortization of prior service costs/(credits) 128 116 28 36 (106 ) (154 ) Net remeasurement (gain)/loss — — 11 — — — Separation programs/other 9 6 88 30 (1 ) 1 Net periodic benefit cost/(income) $ (357 ) $ (271 ) $ 54 $ 58 $ 76 $ 70 Beginning in 2016, we changed the method used to estimate the service and interest costs for pension and OPEB plans that utilize a yield curve approach. We now apply the specific spot rates along the yield curve to the relevant cash flows instead of using a single effective discount rate. Service and interest costs in the third quarter and first nine months were about $145 million lower and about $435 million lower, respectively, with the new method than they would have been under the prior method. Pension Plan Contributions During 2016 , we expect to contribute about $1.2 billion from cash and cash equivalents to our worldwide funded pension plans (including discretionary contributions of about $100 million ), down about $300 million from our previous plan due to recalendarization of contributions into 2017, and to make about $300 million of benefit payments to participants in unfunded plans, for a total of about $1.5 billion . In the first nine months of 2016 , we contributed about $800 million to our worldwide funded pension plans and made about $200 million of benefit payments to participants in unfunded plans. |
Debt (Notes)
Debt (Notes) | 9 Months Ended |
Sep. 30, 2016 | |
Debt Disclosure [Abstract] | |
DEBT | DEBT The carrying value of Automotive and Financial Services debt was as follows (in millions): Automotive September 30, December 31, Debt payable within one year Short-term $ 1,169 $ 818 Long-term payable within one year U.S. Department of Energy (“DOE”) Advanced Technology Vehicles Manufacturing (“ATVM”) Incentive Program 591 591 Other debt 765 370 Unamortized (discount)/premium (53 ) — Total debt payable within one year 2,472 1,779 Long-term debt payable after one year Public unsecured debt securities 6,594 6,594 DOE ATVM Incentive Program 2,799 3,242 Other debt 1,678 1,696 Adjustments Unamortized (discount)/premium (338 ) (412 ) Unamortized issuance costs (58 ) (60 ) Total long-term debt payable after one year 10,675 11,060 Total Automotive $ 13,147 $ 12,839 Fair value of Automotive debt (a) $ 15,158 $ 14,199 Financial Services Debt payable within one year Short-term $ 12,953 $ 12,123 Long-term payable within one year Unsecured debt 12,586 10,241 Asset-backed debt 19,263 18,855 Adjustments Unamortized (discount)/premium (4 ) (5 ) Unamortized issuance costs (20 ) (18 ) Fair value adjustments (b) 23 — Total debt payable within one year 44,801 41,196 Long-term debt payable after one year Unsecured debt 53,985 49,193 Asset-backed debt 24,477 29,390 Adjustments Unamortized (discount)/premium (5 ) (24 ) Unamortized issuance costs (213 ) (198 ) Fair value adjustments (b) 1,032 458 Total long-term debt payable after one year 79,276 78,819 Total Financial Services $ 124,077 $ 120,015 Fair value of Financial Services debt (a) $ 126,175 $ 121,170 __________ (a) The fair value of debt includes $941 million and $560 million of Automotive short-term debt and $12.5 billion and $10.3 billion of Financial Services short-term debt at September 30, 2016 and December 31, 2015 , respectively, carried at cost, which approximates fair value. All other debt is categorized within Level 2 of the fair value hierarchy. (b) Adjustments related to designated fair value hedges of unsecured debt. |
Derivative Financial Instrument
Derivative Financial Instruments and Hedging Activities (Notes) | 9 Months Ended |
Sep. 30, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES | DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES In the normal course of business, our operations are exposed to global market risks, including the effect of changes in foreign currency exchange rates, certain commodity prices, and interest rates. To manage these risks, we enter into highly effective derivative contracts. We have elected to apply hedge accounting to certain derivatives. Derivatives that are designated in hedging relationships are evaluated for effectiveness using regression analysis at the time they are designated and throughout the hedge period. Some derivatives do not qualify for hedge accounting; for others, we elect not to apply hedge accounting. Income Effect of Derivative Financial Instruments The gains/(losses), by hedge designation, recorded in income for the periods ended September 30 were as follows (in millions): Third Quarter First Nine Months 2016 2015 2016 2015 Cash flow hedges (a) Reclassified from AOCI to net income $ 202 $ (60 ) $ 335 $ (196 ) Fair value hedges Interest rate contracts Net interest settlements and accruals excluded from the assessment of hedge effectiveness 95 94 292 271 Ineffectiveness (b) (1 ) 10 21 6 Derivatives not designated as hedging instruments Foreign currency exchange contracts 29 65 61 210 Cross-currency interest rate swap contracts 128 63 463 75 Interest rate contracts 21 (22 ) (70 ) (83 ) Commodity contracts 3 (22 ) 7 (47 ) Total $ 477 $ 128 $ 1,109 $ 236 __________ (a) For the third quarter and first nine months of 2016 , a $340 million gain and a $887 million gain , respectively, were recorded in Other comprehensive income. For the third quarter and first nine months of 2015 , a $453 million gain and a $86 million gain , respectively, were recorded in Other comprehensive income. (b) For the third quarter and first nine months of 2016 , hedge ineffectiveness reflects the net change in fair value on derivatives of $228 million loss and $655 million gain , respectively, and a change in value on hedged debt attributable to the change in benchmark interest rates of $227 million gain and $634 million loss , respectively. For the third quarter and first nine months of 2015 , hedge ineffectiveness reflects the net change in fair value on derivatives of $373 million gain and $345 million gain , respectively, and a change in value on hedged debt attributable to the change in benchmark interest rates of $363 million loss and $339 million loss , respectively. NOTE 11. DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Continued) Balance Sheet Effect of Derivative Financial Instruments Derivative assets and liabilities are recorded on the balance sheet at fair value and are presented on a gross basis. The notional amounts of the derivative instruments do not necessarily represent amounts exchanged by the parties and are not a direct measure of our financial exposure. We also enter into master agreements with counterparties that may allow for netting of exposures in the event of default or breach of the counterparty agreement. The fair value of our derivative instruments and the associated notional amounts, presented gross, were as follows (in millions): September 30, 2016 December 31, 2015 Notional Fair Value of Assets Fair Value of Liabilities Notional Fair Value of Assets Fair Value of Liabilities Cash flow hedges Foreign currency exchange and commodity contracts $ 16,775 $ 818 $ 136 $ 12,593 $ 522 $ 366 Fair value hedges Interest rate contracts 36,215 1,217 — 28,964 670 16 Derivatives not designated as hedging instruments Foreign currency exchange contracts 17,267 352 129 21,108 426 242 Cross-currency interest rate swap contracts 3,765 383 — 3,137 73 111 Interest rate contracts 61,650 142 122 62,638 159 112 Commodity contracts 525 10 4 643 2 26 Total derivative financial instruments, gross (a) (b) $ 136,197 $ 2,922 $ 391 $ 129,083 $ 1,852 $ 873 Current portion $ 1,395 $ 297 $ 1,209 $ 692 Non-current portion 1,527 94 643 181 Total derivative financial instruments, gross $ 2,922 $ 391 $ 1,852 $ 873 __________ (a) At September 30, 2016 and December 31, 2015 , the net obligation to return cash collateral was $13 million and $0 , respectively. (b) At September 30, 2016 and December 31, 2015 , the fair value of assets and liabilities available for counterparty netting was $347 million and $733 million , respectively . All derivatives are categorized within Level 2 of the fair value hierarchy. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income/(Loss) (Notes) | 9 Months Ended |
Sep. 30, 2016 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) | ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) The changes in the balances for each component of accumulated other comprehensive income/(loss) attributable to Ford Motor Company for the periods ended September 30 were as follows (in millions): Third Quarter First Nine Months 2016 2015 2016 2015 Foreign currency translation Beginning balance $ (3,691 ) $ (2,371 ) $ (3,570 ) $ (2,438 ) Gains/(Losses) on foreign currency translation (183 ) (883 ) (271 ) (816 ) Less: Tax/(Tax benefit) — — — — Net gains/(losses) on foreign currency translation (183 ) (883 ) (271 ) (816 ) (Gains)/Losses reclassified from AOCI to net income (a) — — (33 ) — Other comprehensive income/(loss), net of tax (183 ) (883 ) (304 ) (816 ) Ending balance $ (3,874 ) $ (3,254 ) $ (3,874 ) $ (3,254 ) Marketable securities Beginning balance $ — $ — $ (6 ) $ — Gains/(Losses) on available for sale securities — — 11 — Less: Tax/(Tax benefit) — — — — Net gains/(losses) on available for sale securities — — 11 — (Gains)/Losses reclassified from AOCI to net income — — (1 ) — Less: Tax/(Tax benefit) — — 4 — Net (gains)/losses reclassified from AOCI to net income — — (5 ) — Other comprehensive income/(loss), net of tax — — 6 — Ending balance $ — $ — $ — $ — Derivative instruments Beginning balance $ 421 $ (329 ) $ 64 $ (163 ) Gains/(Losses) on derivative instruments 340 453 887 86 Less: Tax/(Tax benefit) 87 196 181 86 Net gains/(losses) on derivative instruments 253 257 706 — (Gains)/Losses reclassified from AOCI to net income (202 ) 60 (335 ) 196 Less: Tax/(Tax benefit) (48 ) (57 ) (85 ) (12 ) Net (gains)/losses reclassified from AOCI to net income (b) (154 ) 117 (250 ) 208 Other comprehensive income/(loss), net of tax 99 374 456 208 Ending balance $ 520 $ 45 $ 520 $ 45 Pension and other postretirement benefits Beginning balance $ (2,706 ) $ (2,796 ) $ (2,745 ) $ (2,664 ) Amortization and recognition of prior service costs/(credits) (c) 17 — 50 (2 ) Less: Tax/(Tax benefit) 7 (86 ) 17 (9 ) Net prior service costs/(credits) reclassified from AOCI to net income 10 86 33 7 Translation impact on non-U.S. plans 4 47 20 (6 ) Other comprehensive income/(loss), net of tax 14 133 53 1 Ending balance $ (2,692 ) $ (2,663 ) $ (2,692 ) $ (2,663 ) Total AOCI ending balance at September 30 $ (6,046 ) $ (5,872 ) $ (6,046 ) $ (5,872 ) __________ (a) Reclassified to Non-Financial Services interest income and other income/(loss), net. (b) Reclassified to Cost of sales . During the next twelve months we expect to reclassify existing net gains on cash flow hedges of $548 million . See Note 11 for additional information. (c) Amortization and recognition of prior service costs/(credits) is included in the computation of net periodic pension cost. See Note 9 for additional information. |
Other Income_(Loss) (Notes)
Other Income/(Loss) (Notes) | 9 Months Ended |
Sep. 30, 2016 | |
Other Income and Expenses [Abstract] | |
OTHER INCOME/(LOSS) | OTHER INCOME/(LOSS) Non-Financial Services The amounts included in Non-Financial Services interest income and other income/(loss), net for the periods ended September 30 were as follows (in millions): Third Quarter First Nine Months 2016 2015 2016 2015 Investment-related interest income $ 50 $ 60 $ 163 $ 161 Interest income/(expense) on income taxes 9 — 8 1 Realized and unrealized gains/(losses) on cash equivalents and marketable securities (13 ) 189 52 146 Gains/(Losses) on changes in investments in affiliates (1 ) — 180 18 Royalty income 174 149 494 448 Other 109 48 224 134 Total $ 328 $ 446 $ 1,121 $ 908 Financial Services The amounts included in Financial Services other income/(loss), net for the periods ended September 30 were as follows (in millions): Third Quarter First Nine Months 2016 2015 2016 2015 Investment-related interest income $ 18 $ 19 $ 57 $ 58 Interest income/(expense) on income taxes (2 ) (3 ) 11 (9 ) Insurance premiums earned 38 32 118 97 Other 78 49 119 95 Total $ 132 $ 97 $ 305 $ 241 |
Income Taxes (Notes)
Income Taxes (Notes) | 9 Months Ended |
Sep. 30, 2016 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | INCOME TAXES For interim tax reporting, we estimate one single effective tax rate for tax jurisdictions not subject to a valuation allowance, which is applied to the year-to-date ordinary income/(loss). Tax effects of significant unusual or infrequently occurring items are excluded from the estimated annual effective tax rate calculation and recognized in the interim period in which they occur. |
Capital Stock and Earnings Per
Capital Stock and Earnings Per Share (Notes) | 9 Months Ended |
Sep. 30, 2016 | |
Earnings Per Share [Abstract] | |
CAPITAL STOCK AND EARNINGS PER SHARE | CAPITAL STOCK AND EARNINGS PER SHARE Earnings Per Share Attributable to Ford Motor Company Common and Class B Stock Basic and diluted income per share were calculated using the following (in millions): Third Quarter First Nine Months 2016 2015 2016 2015 Basic and Diluted Income Attributable to Ford Motor Company Basic income $ 957 $ 2,192 $ 5,379 $ 5,505 Diluted income 957 2,192 5,379 5,505 Basic and Diluted Shares Basic shares (average shares outstanding) 3,974 3,969 3,972 3,968 Net dilutive options and unvested restricted stock units 26 30 25 34 Diluted shares 4,000 3,999 3,997 4,002 |
Commitments and Contingencies (
Commitments and Contingencies (Notes) | 9 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES Commitments and contingencies primarily consist of guarantees and indemnifications, litigation and claims, and warranty. Guarantees and Indemnifications Guarantees and indemnifications are recorded at fair value at their inception. We regularly review our performance risk under these arrangements, and in the event it becomes probable we will be required to perform under guarantee or indemnity, the amount of probable payment is recorded. We guarantee debt and lease obligations of certain joint ventures, as well as certain financial obligations of outside third parties, including suppliers, to support our business and economic growth. Expiration dates vary through 2033 , and guarantees will terminate on payment and/or cancellation of the underlying obligation. A payment by us would be triggered by failure of the joint venture or other third party to fulfill its obligation covered by the guarantee. In some circumstances, we are entitled to recover from a third party amounts paid by us under the guarantee. However, our ability to enforce these rights is sometimes stayed until the guaranteed party is paid in full, and may be limited in the event of insolvency of the third party or other circumstances. In the ordinary course of business, we execute contracts involving indemnifications standard in the industry and indemnifications specific to a transaction, such as the sale of a business. These indemnifications might include and are not limited to claims relating to any of the following: environmental, tax, and shareholder matters; intellectual property rights; power generation contracts; governmental regulations and employment-related matters; dealer, supplier, and other commercial contractual relationships; and financial matters, such as securitizations. Performance under these indemnities generally would be triggered by a breach of terms of the contract or by a third-party claim. While some of these indemnifications are limited in nature, many of them do not limit potential payment. Therefore, we are unable to estimate a maximum amount of future payments that could result from claims made under these unlimited indemnities. The maximum potential payments and the carrying value of recorded liabilities related to guarantees and limited indemnities were as follows (in millions): September 30, December 31, Maximum potential payments $ 227 $ 284 Carrying value of recorded liabilities related to guarantees and limited indemnities 23 23 Litigation and Claims Various legal actions, proceedings, and claims (generally, “matters”) are pending or may be instituted or asserted against us. These include but are not limited to matters arising out of alleged defects in our products; product warranties; governmental regulations relating to safety, emissions, and fuel economy or other matters; government incentives; tax matters; alleged illegal acts resulting in fines or penalties; financial services; employment-related matters; dealer, supplier, and other contractual relationships; intellectual property rights; environmental matters; shareholder or investor matters; and financial reporting matters. Certain of the pending legal actions are, or purport to be, class actions. Some of the matters involve or may involve claims for compensatory, punitive, or antitrust or other treble damages in very large amounts, or demands for field service actions, environmental remediation programs, sanctions, loss of government incentives, assessments, or other relief, which, if granted, would require very large expenditures. The extent of our financial exposure to these matters is difficult to estimate. Many matters do not specify a dollar amount for damages, and many others specify only a jurisdictional minimum. To the extent an amount is asserted, our historical experience suggests that in most instances the amount asserted is not a reliable indicator of the ultimate outcome. We accrue for matters when losses are deemed probable and reasonably estimable. In evaluating matters for accrual and disclosure purposes, we take into consideration factors such as our historical experience with matters of a similar nature, the specific facts and circumstances asserted, the likelihood that we will prevail, and the severity of any potential loss. We reevaluate and update our accruals as matters progress over time. NOTE 16. COMMITMENTS AND CONTINGENCIES (Continued) For the majority of matters, which generally arise out of alleged defects in our products, we establish an accrual based on our extensive historical experience with similar matters. We do not believe there is a reasonably possible outcome materially in excess of our accrual for these matters. For the remaining matters, where our historical experience with similar matters is of more limited value (i.e., “non-pattern matters”), we evaluate the matters primarily based on the individual facts and circumstances. For non-pattern matters, we evaluate whether there is a reasonable possibility of a material loss in excess of any accrual that can be estimated. Our estimate of reasonably possible loss in excess of our accruals for all material matters currently reflects indirect tax and customs matters, for which we estimate the aggregate risk to be a range of up to a bout $2.8 billion . As noted, the litigation process is subject to many uncertainties, and the outcome of individual matters is not predictable with assurance. Our assessments are based on our knowledge and experience, but the ultimate outcome of any matter could require payment substantially in excess of the amount that we have accrued and/or disclosed. Warranty and Field Service Actions We accrue obligations for warranty costs and field service actions (i.e., safety recalls, emission recalls, and other product campaigns) at the time of sale using a patterned estimation model that includes historical information regarding the nature, frequency, and average cost of claims for each vehicle line by model year. Warranty and field service action obligations are reported in Other liabilities and deferred revenue . We reevaluate the adequacy of our accruals on a regular basis. We recognize the benefit from a recovery of the costs associated with our warranty and field service actions when specifics of the recovery have been agreed with our supplier and the amount of the recovery is virtually certain. Recoveries are reported in Trade and other receivables and Other assets. The estimate of our future warranty and field service action costs, net of supplier recoveries, for the periods ended September 30 were as follows (in millions): First Nine Months 2016 2015 Beginning balance $ 4,558 $ 4,785 Payments made during the period (2,464 ) (2,036 ) Changes in accrual related to warranties issued during the period 1,704 1,523 Changes in accrual related to pre-existing warranties 1,088 495 Foreign currency translation and other 42 (192 ) Ending balance $ 4,928 $ 4,575 Revisions to our estimated costs are reported as Changes in accrual related to pre-existing warranties in the table above. |
Summary of Accounting Policies
Summary of Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Our financial statements are presented in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information, instructions to Quarterly Report on Form 10-Q, and Rule 10-01 of Regulation S-X. |
Consolidation, Policy [Policy Text Block] | In the opinion of management, these unaudited financial statements reflect a fair statement of our results of operations and financial condition for the periods, and at the dates, presented. The results for interim periods are not necessarily indicative of results that may be expected for any other interim period or for the full year. Reference should be made to the financial statements contained in our Annual Report on Form 10-K for the year ended December 31, 2015 (“ 2015 Form 10-K Report”). |
Reclassifications, Policy [Policy Text Block] | Change in presentation. Our core Automotive business includes the designing, manufacturing, marketing, and servicing of a full line of Ford cars, trucks, SUVs, and electrified vehicles, as well as Lincoln luxury vehicles. We provide vehicle-related financing and leasing activities through Ford Motor Credit Company LLC (“Ford Credit”). At the same time, we are pursuing emerging opportunities in connectivity, mobility, autonomous vehicles, the customer experience, and data and analytics. Prior to the second quarter of 2016, we presented our financial statements on both a consolidated basis and on a “sector” basis for our Automotive and Financial Services sectors. With our expansion into mobility services, including the formation in March 2016 of the Ford Smart Mobility LLC subsidiary, we reevaluated our disclosures and concluded we should eliminate our two-sector financial presentation and, reflecting the manner in which our Chief Operating Decision Maker manages our business, changed our segment presentation beginning with the second quarter of 2016 to be Automotive, Financial Services, and All Other. See Note 3 for a description of our segment presentation. In addition, as a result of the elimination of our two-sector financial presentation, at June 30, 2016 we changed the presentation of our consolidated balance sheet and certain notes to the consolidated financial statements to classify our assets and liabilities as current or non-current. We reclassified certain prior year amounts in our consolidated financial statements to conform to the current year presentation. |
Segment Reporting, Policy [Policy Text Block] | In conjunction with our expanded business model to become an automotive, financial services, and mobility company, beginning with the second quarter of 2016, we changed our reportable segment disclosures. Reflecting the manner in which our Chief Operating Decision Maker manages our businesses, including resource allocation and performance assessment, we have four operating segments that represent the primary businesses reported in our consolidated financial statements. These operating segments are: Automotive, Financial Services, Ford Smart Mobility LLC, and Central Treasury Operations. Automotive and Financial Services comprise separate reportable segments. Ford Smart Mobility LLC and Central Treasury Operations did not meet the quantitative thresholds in this reporting period to qualify as reportable segments; therefore, these operating segments are combined and disclosed below as All Other. Prior-period amounts were adjusted retrospectively to reflect the change to our reportable segments. Below is a description of our reportable segments and the business activities included in All Other. Automotive Segment Our Automotive segment primarily includes the sale of Ford and Lincoln brand vehicles, service parts, and accessories worldwide, together with the associated costs to develop, manufacture, distribute, and service the vehicles, parts, and accessories. The segment includes 5 regional business units: North America, South America, Europe, Middle East & Africa, and Asia Pacific. Financial Services Segment The Financial Services segment primarily includes our vehicle-related financing and leasing activities at Ford Credit. All Other All Other is a combination of operating segments that did not meet the quantitative thresholds in this reporting period to qualify as reportable segments. All Other consists of our Central Treasury Operations (formerly Other Automotive) and Ford Smart Mobility LLC. The Central Treasury Operations segment is primarily engaged in decision making for investments, risk management activities, and providing financing for the Automotive segment. Interest income (excluding interest earned on our extended service contract portfolio that is included in our Automotive segment), interest expense, gains and losses on cash equivalents and marketable securities, and foreign exchange derivatives associated with intercompany lending, are included in the results of Central Treasury Operations. The underlying assets and liabilities, primarily cash and cash equivalents, marketable securities, debt, and derivatives, remain with the Automotive segment. Ford Smart Mobility LLC is a new subsidiary formed to design, build, grow, and invest in emerging mobility services. Designed to compete like a start-up company, Ford Smart Mobility LLC will design and build mobility services on its own, and collaborate with start-ups and tech companies. Special Items In addition, our results include Special Items that consist of (i) pension and other postretirement employee benefits (“OPEB”) remeasurement gains and losses, (ii) significant personnel and dealer-related costs stemming from our efforts to match production capacity and cost structure to market demand and changing model mix, and (iii) certain infrequent significant items that we generally do not consider to be indicative of our ongoing operating activities. Our management excludes these items from its review of the results of the operating segments for purposes of measuring segment profitability and allocating resources. Special items are presented as a separate reconciling item. |
Marketable Securities, Available-for-sale Securities, Policy [Policy Text Block] | We determine other-than-temporary impairments on cash equivalents and marketable securities using a specific identification method. |
Finance Loans and Leases Receivable, Policy [Policy Text Block] | For all finance receivables, we define “past due” as any payment, including principal and interest, that is at least 31 days past the contractual due date. Impaired consumer receivables include accounts that have been rewritten or modified in reorganization proceedings pursuant to the U.S. Bankruptcy Code that are considered to be troubled debt restructurings (“TDRs”), as well as all accounts greater than 120 days past due. Impaired non-consumer receivables represent accounts with dealers that have weak or poor financial metrics or dealer financing that has been modified in TDRs. |
Inventory, Policy [Policy Text Block] | All inventories are stated at the lower of cost and net realizable value. Cost for a substantial portion of U.S. inventories is determined on a last-in, first-out (“LIFO”) basis. LIFO was used for 32% and 27% of total inventories at September 30, 2016 and December 31, 2015 , respectively. Cost of other inventories is determined by costing methods that approximate a first-in, first-out (“FIFO”) basis. |
Derivatives, Policy [Policy Text Block] | Derivative assets and liabilities are recorded on the balance sheet at fair value and are presented on a gross basis. The notional amounts of the derivative instruments do not necessarily represent amounts exchanged by the parties and are not a direct measure of our financial exposure. We also enter into master agreements with counterparties that may allow for netting of exposures in the event of default or breach of the counterparty agreement. In the normal course of business, our operations are exposed to global market risks, including the effect of changes in foreign currency exchange rates, certain commodity prices, and interest rates. To manage these risks, we enter into highly effective derivative contracts. We have elected to apply hedge accounting to certain derivatives. Derivatives that are designated in hedging relationships are evaluated for effectiveness using regression analysis at the time they are designated and throughout the hedge period. Some derivatives do not qualify for hedge accounting; for others, we elect not to apply hedge accounting. |
Income Tax, Policy [Policy Text Block] | For interim tax reporting, we estimate one single effective tax rate for tax jurisdictions not subject to a valuation allowance, which is applied to the year-to-date ordinary income/(loss). Tax effects of significant unusual or infrequently occurring items are excluded from the estimated annual effective tax rate calculation and recognized in the interim period in which they occur. |
Commitments and Contingencies, Policy [Policy Text Block] | Litigation and Claims Various legal actions, proceedings, and claims (generally, “matters”) are pending or may be instituted or asserted against us. These include but are not limited to matters arising out of alleged defects in our products; product warranties; governmental regulations relating to safety, emissions, and fuel economy or other matters; government incentives; tax matters; alleged illegal acts resulting in fines or penalties; financial services; employment-related matters; dealer, supplier, and other contractual relationships; intellectual property rights; environmental matters; shareholder or investor matters; and financial reporting matters. Certain of the pending legal actions are, or purport to be, class actions. Some of the matters involve or may involve claims for compensatory, punitive, or antitrust or other treble damages in very large amounts, or demands for field service actions, environmental remediation programs, sanctions, loss of government incentives, assessments, or other relief, which, if granted, would require very large expenditures. The extent of our financial exposure to these matters is difficult to estimate. Many matters do not specify a dollar amount for damages, and many others specify only a jurisdictional minimum. To the extent an amount is asserted, our historical experience suggests that in most instances the amount asserted is not a reliable indicator of the ultimate outcome. We accrue for matters when losses are deemed probable and reasonably estimable. In evaluating matters for accrual and disclosure purposes, we take into consideration factors such as our historical experience with matters of a similar nature, the specific facts and circumstances asserted, the likelihood that we will prevail, and the severity of any potential loss. We reevaluate and update our accruals as matters progress over time. NOTE 16. COMMITMENTS AND CONTINGENCIES (Continued) For the majority of matters, which generally arise out of alleged defects in our products, we establish an accrual based on our extensive historical experience with similar matters. We do not believe there is a reasonably possible outcome materially in excess of our accrual for these matters. For the remaining matters, where our historical experience with similar matters is of more limited value (i.e., “non-pattern matters”), we evaluate the matters primarily based on the individual facts and circumstances. For non-pattern matters, we evaluate whether there is a reasonable possibility of a material loss in excess of any accrual that can be estimated. As noted, the litigation process is subject to many uncertainties, and the outcome of individual matters is not predictable with assurance. Our assessments are based on our knowledge and experience, but the ultimate outcome of any matter could require payment substantially in excess of the amount that we have accrued and/or disclosed. |
Guarantees, Indemnifications and Warranties Policies [Policy Text Block] | Warranty and Field Service Actions We accrue obligations for warranty costs and field service actions (i.e., safety recalls, emission recalls, and other product campaigns) at the time of sale using a patterned estimation model that includes historical information regarding the nature, frequency, and average cost of claims for each vehicle line by model year. Warranty and field service action obligations are reported in Other liabilities and deferred revenue . We reevaluate the adequacy of our accruals on a regular basis. We recognize the benefit from a recovery of the costs associated with our warranty and field service actions when specifics of the recovery have been agreed with our supplier and the amount of the recovery is virtually certain. Recoveries are reported in Trade and other receivables and Other assets. Guarantees and Indemnifications Guarantees and indemnifications are recorded at fair value at their inception. We regularly review our performance risk under these arrangements, and in the event it becomes probable we will be required to perform under guarantee or indemnity, the amount of probable payment is recorded. We guarantee debt and lease obligations of certain joint ventures, as well as certain financial obligations of outside third parties, including suppliers, to support our business and economic growth. Expiration dates vary through 2033 , and guarantees will terminate on payment and/or cancellation of the underlying obligation. A payment by us would be triggered by failure of the joint venture or other third party to fulfill its obligation covered by the guarantee. In some circumstances, we are entitled to recover from a third party amounts paid by us under the guarantee. However, our ability to enforce these rights is sometimes stayed until the guaranteed party is paid in full, and may be limited in the event of insolvency of the third party or other circumstances. In the ordinary course of business, we execute contracts involving indemnifications standard in the industry and indemnifications specific to a transaction, such as the sale of a business. These indemnifications might include and are not limited to claims relating to any of the following: environmental, tax, and shareholder matters; intellectual property rights; power generation contracts; governmental regulations and employment-related matters; dealer, supplier, and other commercial contractual relationships; and financial matters, such as securitizations. Performance under these indemnities generally would be triggered by a breach of terms of the contract or by a third-party claim. While some of these indemnifications are limited in nature, many of them do not limit potential payment. Therefore, we are unable to estimate a maximum amount of future payments that could result from claims made under these unlimited indemnities. |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Key operating data for our business segments for the periods ended or at September 30 were as follows (in millions): Automotive Financial Services All Other Special Items Adjustments Total Third Quarter 2016 Revenues $ 33,331 $ 2,612 $ — $ — $ — $ 35,943 Pre-tax results - income/(loss) 1,084 552 (223 ) (26 ) — 1,387 Equity in net income/(loss) of affiliated companies 395 8 — — — 403 Cash, cash equivalents, and marketable securities 24,300 9,855 10 — — 34,165 Total assets 97,269 142,979 67 — (5,352 ) (a) 234,963 Debt 13,147 124,077 — — — 137,224 Operating cash flows (1,954 ) 5,953 — — 1,161 (b) 5,160 Third Quarter 2015 Revenues $ 35,818 $ 2,326 $ — $ — $ — $ 38,144 Pre-tax results - income/(loss) 2,762 526 (163 ) 166 — 3,291 Equity in net income/(loss) of affiliated companies 306 8 — — — 314 Cash, cash equivalents, and marketable securities 22,177 9,670 — — — 31,847 Total assets 92,873 130,626 — — (3,921 ) (a) 219,578 Debt 12,798 113,627 — — — 126,425 Operating cash flows 2,787 2,167 — — 1,501 (b) 6,455 Automotive Financial Services All Other Special Items Adjustments Total First Nine Months 2016 Revenues $ 105,520 $ 7,626 $ — $ — $ — $ 113,146 Pre-tax results - income/(loss) 7,380 1,436 (573 ) (330 ) — 7,913 Equity in net income/(loss) of affiliated companies 1,319 23 — — — 1,342 Operating cash flows 4,917 8,761 — — 3,316 (b) 16,994 First Nine Months 2015 Revenues $ 102,723 $ 6,584 $ — $ — $ — $ 109,307 Pre-tax results - income/(loss) 7,246 1,486 (542 ) 166 — 8,356 Equity in net income/(loss) of affiliated companies 1,213 24 — — — 1,237 Operating cash flows 5,199 5,329 — — 3,550 (b) 14,078 __________ (a) Includes eliminations of intersegment transactions occurring in the ordinary course of business and deferred tax netting. (b) We measure and evaluate our Automotive segment operating cash flow on a different basis than Net cash provided by/(used in) operating activities in our consolidated statement of cash flows. Automotive segment operating cash flow includes additional elements management considers to be related to our Automotive operating activities, primarily capital spending and non-designated derivatives, and excludes outflows for funded pension contributions, separation payments, and other items that are considered operating cash flows under U.S. GAAP. The table below quantifies these reconciling adjustments to Net cash provided by/(used in) operating activities for the periods ended September 30 (in millions): Third Quarter First Nine Months 2016 2015 2016 2015 Automotive capital spending $ 1,696 $ 1,819 $ 4,879 $ 5,324 Net cash flows from non-designated derivatives (246 ) 119 (322 ) 90 Funded pension contributions (246 ) (89 ) (835 ) (942 ) Separation payments (40 ) (90 ) (198 ) (600 ) Other (3 ) (258 ) (208 ) (322 ) Total operating cash flow adjustments $ 1,161 $ 1,501 $ 3,316 $ 3,550 |
Cash, Cash Equivalents, and M26
Cash, Cash Equivalents, and Marketable Securities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | The following tables categorize the fair values of cash, cash equivalents, and marketable securities measured at fair value on a recurring basis on our balance sheet (in millions): September 30, 2016 Fair Value Level Automotive Financial Services All Other Consolidated Cash and cash equivalents U.S. government 1 $ 599 $ — $ — $ 599 U.S. government agencies 2 — 4 — 4 Non-U.S. government and agencies 2 551 280 — 831 Corporate debt 2 60 50 — 110 Total marketable securities classified as cash equivalents 1,210 334 — 1,544 Cash, time deposits, and money market funds 6,445 5,341 10 11,796 Total cash and cash equivalents $ 7,655 $ 5,675 $ 10 $ 13,340 Marketable securities U.S. government 1 $ 3,982 $ 1,724 $ — $ 5,706 U.S. government agencies 2 3,284 1,354 — 4,638 Non-U.S. government and agencies 2 5,423 520 — 5,943 Corporate debt 2 3,709 540 — 4,249 Equities 1 198 — — 198 Other marketable securities 2 49 42 — 91 Total marketable securities $ 16,645 $ 4,180 $ — $ 20,825 December 31, 2015 Fair Value Level Automotive Financial Services All Other Consolidated Cash and cash equivalents U.S. government 1 $ 115 $ — $ — $ 115 U.S. government agencies 2 22 — — 22 Non-U.S. government and agencies 2 173 266 — 439 Corporate debt 2 20 — — 20 Total marketable securities classified as cash equivalents 330 266 — 596 Cash, time deposits, and money market funds 5,056 8,620 — 13,676 Total cash and cash equivalents $ 5,386 $ 8,886 $ — $ 14,272 Marketable securities U.S. government 1 $ 1,623 $ 298 $ — $ 1,921 U.S. government agencies 2 5,240 1,169 — 6,409 Non-U.S. government and agencies 2 7,451 832 — 8,283 Corporate debt 2 3,279 384 — 3,663 Equities 1 240 — — 240 Other marketable securities 2 348 40 — 388 Total marketable securities $ 18,181 $ 2,723 $ — $ 20,904 |
Available-for-sale Securities [Table Text Block] | The following tables present cash equivalents and marketable securities accounted for as available-for-sale (“AFS”) securities on our balance sheet (in millions): September 30, 2016 Fair Value of Securities with Contractual Maturities: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Less than 1 Year 1-5 Years Automotive U.S. government $ 447 $ — $ — $ 447 $ — $ 447 U.S. government agencies 100 — — 100 — 100 Non-U.S. government and agencies 77 — — 77 — 77 Corporate debt 337 — — 337 247 90 Total $ 961 $ — $ — $ 961 $ 247 $ 714 December 31, 2015 Fair Value of Securities with Contractual Maturities: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Less than 1 Year 1-5 Years Automotive U.S. government $ — $ — $ — $ — $ — $ — U.S. government agencies — — — — — — Non-U.S. government and agencies 82 — (12 ) 70 — 70 Corporate debt — — — — — — Total $ 82 $ — $ (12 ) $ 70 $ — $ 70 |
Financial Services Finance Re27
Financial Services Finance Receivables (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
Net finance receivables [Table Text Block] | Finance receivables, net were as follows (in millions): September 30, December 31, Consumer Retail financing, gross $ 67,894 $ 62,068 Unearned interest supplements (2,785 ) (2,119 ) Consumer finance receivables 65,109 59,949 Non-Consumer Dealer financing 30,533 31,115 Non-Consumer finance receivables 30,533 31,115 Total recorded investment $ 95,642 $ 91,064 Recorded investment in finance receivables $ 95,642 $ 91,064 Allowance for credit losses (478 ) (373 ) Finance receivables, net $ 95,164 $ 90,691 Current portion $ 45,550 $ 45,137 Non-current portion 49,614 45,554 Finance receivables, net $ 95,164 $ 90,691 Net finance receivables subject to fair value (a) $ 93,033 $ 88,876 Fair value 94,327 90,048 __________ (a) At September 30, 2016 and December 31, 2015 , excludes $2.1 billion and $1.8 billion , respectively, of certain receivables (primarily direct financing leases) that are not subject to fair value disclosure requirements. The fair value of finance receivables is categorized within Level 3 of the fair value hierarchy. |
Aging analysis for total finance receivables [Text Block] | The aging analysis of our finance receivables balances were as follows (in millions): September 30, December 31, Consumer 31-60 days past due $ 652 $ 708 61-90 days past due 112 108 91-120 days past due 36 27 Greater than 120 days past due 39 38 Total past due 839 881 Current 64,270 59,068 Consumer finance receivables 65,109 59,949 Non-Consumer Total past due 71 116 Current 30,462 30,999 Non-Consumer finance receivables 30,533 31,115 Total recorded investment $ 95,642 $ 91,064 |
Financing receivable credit quality indicators [Table Text Block] | The credit quality analysis of our dealer financing receivables was as follows (in millions): September 30, December 31, Dealer Financing Group I $ 23,162 $ 22,146 Group II 5,847 7,175 Group III 1,399 1,683 Group IV 125 111 Total recorded investment $ 30,533 $ 31,115 |
Financial Services Allowance 28
Financial Services Allowance for Credit Losses (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
Allowance For Credit Losses on Financing And Loans And Leases Receivable [Table Text Block] | An analysis of the allowance for credit losses related to finance receivables for the periods ended September 30 was as follows (in millions): Third Quarter 2016 First Nine Months 2016 Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 432 $ 17 $ 449 $ 357 $ 16 $ 373 Charge-offs (108 ) (5 ) (113 ) (304 ) (7 ) (311 ) Recoveries 29 1 30 89 4 93 Provision for credit losses 112 1 113 323 1 324 Other (a) (1 ) — (1 ) (1 ) — (1 ) Ending balance (b) $ 464 $ 14 $ 478 $ 464 $ 14 $ 478 Analysis of ending balance of allowance for credit losses Collective impairment allowance $ 445 $ 12 $ 457 Specific impairment allowance 19 2 21 Ending balance (b) 464 14 478 Analysis of ending balance of finance receivables Collectively evaluated for impairment 64,743 30,393 95,136 Specifically evaluated for impairment 366 140 506 Recorded investment 65,109 30,533 95,642 Ending balance, net of allowance for credit losses $ 64,645 $ 30,519 $ 95,164 __________ (a) Primarily represents amounts related to translation adjustments. (b) Total allowance, including reserves for operating leases, was $541 million . Third Quarter 2015 First Nine Months 2015 Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 322 $ 13 $ 335 $ 305 $ 16 $ 321 Charge-offs (85 ) (2 ) (87 ) (235 ) (3 ) (238 ) Recoveries 29 1 30 90 4 94 Provision for credit losses 80 2 82 190 (2 ) 188 Other (a) (4 ) — (4 ) (8 ) (1 ) (9 ) Ending balance (b) $ 342 $ 14 $ 356 $ 342 $ 14 $ 356 Analysis of ending balance of allowance for credit losses Collective impairment allowance $ 323 $ 12 $ 335 Specific impairment allowance 19 2 21 Ending balance (b) 342 14 356 Analysis of ending balance of finance receivables Collectively evaluated for impairment 58,749 26,311 85,060 Specifically evaluated for impairment 375 129 504 Recorded investment 59,124 26,440 85,564 Ending balance, net of allowance for credit losses $ 58,782 $ 26,426 $ 85,208 __________ (a) Primarily represents amounts related to translation adjustments. (b) Total allowance, including reserves for operating leases, was $403 million . |
Inventories (Tables)
Inventories (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory [Table Text Block] | Inventories were as follows (in millions): September 30, December 31, Raw materials, work-in-process, and supplies $ 4,335 $ 4,005 Finished products 6,823 5,254 Total inventories under FIFO 11,158 9,259 LIFO adjustment (939 ) (940 ) Total inventories $ 10,219 $ 8,319 |
Other Liabilities and Deferre30
Other Liabilities and Deferred Revenue (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Other Liabilities [Abstract] | |
Schedule of Accrued Liabilities and Deferred Revenue [Table Text Block] | Other liabilities and deferred revenue were as follows (in millions): September 30, December 31, Current Dealer and dealers’ customer allowances and claims $ 9,050 $ 8,122 Deferred revenue 4,715 4,675 Employee benefit plans 1,505 1,562 Accrued interest 761 840 OPEB 357 354 Pension (a) 268 249 Other 2,875 3,287 Total current other liabilities and deferred revenue $ 19,531 $ 19,089 Non-current Pension (a) $ 9,024 $ 9,543 OPEB 5,362 5,347 Dealer and dealers’ customer allowances and claims 3,146 2,731 Deferred revenue 3,639 3,285 Employee benefit plans 1,112 1,041 Other 1,369 1,510 Total non-current other liabilities and deferred revenue $ 23,652 $ 23,457 __________ (a) Balances at September 30, 2016 reflect pension liabilities at December 31, 2015 , updated for service and interest cost, expected return on assets, separation expense, actual benefit payments, and cash contributions. The discount rate and rate of expected return assumptions are unchanged from year-end 2015 . Included in Other assets are pension assets of $2.3 billion and $1.6 billion at September 30, 2016 and December 31, 2015 , respectively. |
Retirement Benefits (Tables)
Retirement Benefits (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
Schedule of defined benefit plans expense [Table Text Block] | The pre-tax expense for our defined benefit pension and OPEB plans for the periods ended September 30 was as follows (in millions): Third Quarter Pension Benefits U.S. Plans Non-U.S. Plans Worldwide OPEB 2016 2015 2016 2015 2016 2015 Service cost $ 128 $ 147 $ 116 $ 133 $ 13 $ 15 Interest cost 381 454 190 236 49 59 Expected return on assets (673 ) (732 ) (329 ) (372 ) — — Amortization of prior service costs/(credits) 43 38 9 13 (35 ) (51 ) Net remeasurement (gain)/loss — — — — — — Separation programs/other 6 4 16 11 (1 ) — Net periodic benefit cost/(income) $ (115 ) $ (89 ) $ 2 $ 21 $ 26 $ 23 First Nine Months Pension Benefits U.S. Plans Non-U.S. Plans Worldwide OPEB 2016 2015 2016 2015 2016 2015 Service cost $ 383 $ 440 $ 358 $ 401 $ 37 $ 45 Interest cost 1,143 1,363 587 707 146 178 Expected return on assets (2,020 ) (2,196 ) (1,018 ) (1,116 ) — — Amortization of prior service costs/(credits) 128 116 28 36 (106 ) (154 ) Net remeasurement (gain)/loss — — 11 — — — Separation programs/other 9 6 88 30 (1 ) 1 Net periodic benefit cost/(income) $ (357 ) $ (271 ) $ 54 $ 58 $ 76 $ 70 |
Debt (Tables)
Debt (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Debt Disclosure [Abstract] | |
Schedule of debt outstanding [Table Text Block] | The carrying value of Automotive and Financial Services debt was as follows (in millions): Automotive September 30, December 31, Debt payable within one year Short-term $ 1,169 $ 818 Long-term payable within one year U.S. Department of Energy (“DOE”) Advanced Technology Vehicles Manufacturing (“ATVM”) Incentive Program 591 591 Other debt 765 370 Unamortized (discount)/premium (53 ) — Total debt payable within one year 2,472 1,779 Long-term debt payable after one year Public unsecured debt securities 6,594 6,594 DOE ATVM Incentive Program 2,799 3,242 Other debt 1,678 1,696 Adjustments Unamortized (discount)/premium (338 ) (412 ) Unamortized issuance costs (58 ) (60 ) Total long-term debt payable after one year 10,675 11,060 Total Automotive $ 13,147 $ 12,839 Fair value of Automotive debt (a) $ 15,158 $ 14,199 Financial Services Debt payable within one year Short-term $ 12,953 $ 12,123 Long-term payable within one year Unsecured debt 12,586 10,241 Asset-backed debt 19,263 18,855 Adjustments Unamortized (discount)/premium (4 ) (5 ) Unamortized issuance costs (20 ) (18 ) Fair value adjustments (b) 23 — Total debt payable within one year 44,801 41,196 Long-term debt payable after one year Unsecured debt 53,985 49,193 Asset-backed debt 24,477 29,390 Adjustments Unamortized (discount)/premium (5 ) (24 ) Unamortized issuance costs (213 ) (198 ) Fair value adjustments (b) 1,032 458 Total long-term debt payable after one year 79,276 78,819 Total Financial Services $ 124,077 $ 120,015 Fair value of Financial Services debt (a) $ 126,175 $ 121,170 __________ (a) The fair value of debt includes $941 million and $560 million of Automotive short-term debt and $12.5 billion and $10.3 billion of Financial Services short-term debt at September 30, 2016 and December 31, 2015 , respectively, carried at cost, which approximates fair value. All other debt is categorized within Level 2 of the fair value hierarchy. (b) Adjustments related to designated fair value hedges of unsecured debt. |
Derivative Financial Instrume33
Derivative Financial Instruments and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Income Effect of Derivative Instruments [Table Text Block] | The gains/(losses), by hedge designation, recorded in income for the periods ended September 30 were as follows (in millions): Third Quarter First Nine Months 2016 2015 2016 2015 Cash flow hedges (a) Reclassified from AOCI to net income $ 202 $ (60 ) $ 335 $ (196 ) Fair value hedges Interest rate contracts Net interest settlements and accruals excluded from the assessment of hedge effectiveness 95 94 292 271 Ineffectiveness (b) (1 ) 10 21 6 Derivatives not designated as hedging instruments Foreign currency exchange contracts 29 65 61 210 Cross-currency interest rate swap contracts 128 63 463 75 Interest rate contracts 21 (22 ) (70 ) (83 ) Commodity contracts 3 (22 ) 7 (47 ) Total $ 477 $ 128 $ 1,109 $ 236 __________ (a) For the third quarter and first nine months of 2016 , a $340 million gain and a $887 million gain , respectively, were recorded in Other comprehensive income. For the third quarter and first nine months of 2015 , a $453 million gain and a $86 million gain , respectively, were recorded in Other comprehensive income. (b) For the third quarter and first nine months of 2016 , hedge ineffectiveness reflects the net change in fair value on derivatives of $228 million loss and $655 million gain , respectively, and a change in value on hedged debt attributable to the change in benchmark interest rates of $227 million gain and $634 million loss , respectively. For the third quarter and first nine months of 2015 , hedge ineffectiveness reflects the net change in fair value on derivatives of $373 million gain and $345 million gain , respectively, and a change in value on hedged debt attributable to the change in benchmark interest rates of $363 million loss and $339 million loss , respectively. |
Balance Sheet Effect of Derivative Instruments [Table Text Block] | The fair value of our derivative instruments and the associated notional amounts, presented gross, were as follows (in millions): September 30, 2016 December 31, 2015 Notional Fair Value of Assets Fair Value of Liabilities Notional Fair Value of Assets Fair Value of Liabilities Cash flow hedges Foreign currency exchange and commodity contracts $ 16,775 $ 818 $ 136 $ 12,593 $ 522 $ 366 Fair value hedges Interest rate contracts 36,215 1,217 — 28,964 670 16 Derivatives not designated as hedging instruments Foreign currency exchange contracts 17,267 352 129 21,108 426 242 Cross-currency interest rate swap contracts 3,765 383 — 3,137 73 111 Interest rate contracts 61,650 142 122 62,638 159 112 Commodity contracts 525 10 4 643 2 26 Total derivative financial instruments, gross (a) (b) $ 136,197 $ 2,922 $ 391 $ 129,083 $ 1,852 $ 873 Current portion $ 1,395 $ 297 $ 1,209 $ 692 Non-current portion 1,527 94 643 181 Total derivative financial instruments, gross $ 2,922 $ 391 $ 1,852 $ 873 __________ (a) At September 30, 2016 and December 31, 2015 , the net obligation to return cash collateral was $13 million and $0 , respectively. (b) At September 30, 2016 and December 31, 2015 , the fair value of assets and liabilities available for counterparty netting was $347 million and $733 million , respectively . All derivatives are categorized within Level 2 of the fair value hierarchy. |
Accumulated Other Comprehensi34
Accumulated Other Comprehensive Income/(Loss) (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The changes in the balances for each component of accumulated other comprehensive income/(loss) attributable to Ford Motor Company for the periods ended September 30 were as follows (in millions): Third Quarter First Nine Months 2016 2015 2016 2015 Foreign currency translation Beginning balance $ (3,691 ) $ (2,371 ) $ (3,570 ) $ (2,438 ) Gains/(Losses) on foreign currency translation (183 ) (883 ) (271 ) (816 ) Less: Tax/(Tax benefit) — — — — Net gains/(losses) on foreign currency translation (183 ) (883 ) (271 ) (816 ) (Gains)/Losses reclassified from AOCI to net income (a) — — (33 ) — Other comprehensive income/(loss), net of tax (183 ) (883 ) (304 ) (816 ) Ending balance $ (3,874 ) $ (3,254 ) $ (3,874 ) $ (3,254 ) Marketable securities Beginning balance $ — $ — $ (6 ) $ — Gains/(Losses) on available for sale securities — — 11 — Less: Tax/(Tax benefit) — — — — Net gains/(losses) on available for sale securities — — 11 — (Gains)/Losses reclassified from AOCI to net income — — (1 ) — Less: Tax/(Tax benefit) — — 4 — Net (gains)/losses reclassified from AOCI to net income — — (5 ) — Other comprehensive income/(loss), net of tax — — 6 — Ending balance $ — $ — $ — $ — Derivative instruments Beginning balance $ 421 $ (329 ) $ 64 $ (163 ) Gains/(Losses) on derivative instruments 340 453 887 86 Less: Tax/(Tax benefit) 87 196 181 86 Net gains/(losses) on derivative instruments 253 257 706 — (Gains)/Losses reclassified from AOCI to net income (202 ) 60 (335 ) 196 Less: Tax/(Tax benefit) (48 ) (57 ) (85 ) (12 ) Net (gains)/losses reclassified from AOCI to net income (b) (154 ) 117 (250 ) 208 Other comprehensive income/(loss), net of tax 99 374 456 208 Ending balance $ 520 $ 45 $ 520 $ 45 Pension and other postretirement benefits Beginning balance $ (2,706 ) $ (2,796 ) $ (2,745 ) $ (2,664 ) Amortization and recognition of prior service costs/(credits) (c) 17 — 50 (2 ) Less: Tax/(Tax benefit) 7 (86 ) 17 (9 ) Net prior service costs/(credits) reclassified from AOCI to net income 10 86 33 7 Translation impact on non-U.S. plans 4 47 20 (6 ) Other comprehensive income/(loss), net of tax 14 133 53 1 Ending balance $ (2,692 ) $ (2,663 ) $ (2,692 ) $ (2,663 ) Total AOCI ending balance at September 30 $ (6,046 ) $ (5,872 ) $ (6,046 ) $ (5,872 ) __________ (a) Reclassified to Non-Financial Services interest income and other income/(loss), net. (b) Reclassified to Cost of sales . During the next twelve months we expect to reclassify existing net gains on cash flow hedges of $548 million . See Note 11 for additional information. (c) Amortization and recognition of prior service costs/(credits) is included in the computation of net periodic pension cost. See Note 9 for additional information. |
Other Income_(Loss) (Tables)
Other Income/(Loss) (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Other Income and Expenses [Abstract] | |
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | Non-Financial Services The amounts included in Non-Financial Services interest income and other income/(loss), net for the periods ended September 30 were as follows (in millions): Third Quarter First Nine Months 2016 2015 2016 2015 Investment-related interest income $ 50 $ 60 $ 163 $ 161 Interest income/(expense) on income taxes 9 — 8 1 Realized and unrealized gains/(losses) on cash equivalents and marketable securities (13 ) 189 52 146 Gains/(Losses) on changes in investments in affiliates (1 ) — 180 18 Royalty income 174 149 494 448 Other 109 48 224 134 Total $ 328 $ 446 $ 1,121 $ 908 Financial Services The amounts included in Financial Services other income/(loss), net for the periods ended September 30 were as follows (in millions): Third Quarter First Nine Months 2016 2015 2016 2015 Investment-related interest income $ 18 $ 19 $ 57 $ 58 Interest income/(expense) on income taxes (2 ) (3 ) 11 (9 ) Insurance premiums earned 38 32 118 97 Other 78 49 119 95 Total $ 132 $ 97 $ 305 $ 241 |
Capital Stock and Earnings Pe36
Capital Stock and Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Earnings Per Share [Abstract] | |
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block] | Basic and diluted income per share were calculated using the following (in millions): Third Quarter First Nine Months 2016 2015 2016 2015 Basic and Diluted Income Attributable to Ford Motor Company Basic income $ 957 $ 2,192 $ 5,379 $ 5,505 Diluted income 957 2,192 5,379 5,505 Basic and Diluted Shares Basic shares (average shares outstanding) 3,974 3,969 3,972 3,968 Net dilutive options and unvested restricted stock units 26 30 25 34 Diluted shares 4,000 3,999 3,997 4,002 |
Commitments and Contingencies37
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Guarantee obligations [Table Text Block] | The maximum potential payments and the carrying value of recorded liabilities related to guarantees and limited indemnities were as follows (in millions): September 30, December 31, Maximum potential payments $ 227 $ 284 Carrying value of recorded liabilities related to guarantees and limited indemnities 23 23 |
Warranty [Table Text Block] | The estimate of our future warranty and field service action costs, net of supplier recoveries, for the periods ended September 30 were as follows (in millions): First Nine Months 2016 2015 Beginning balance $ 4,558 $ 4,785 Payments made during the period (2,464 ) (2,036 ) Changes in accrual related to warranties issued during the period 1,704 1,523 Changes in accrual related to pre-existing warranties 1,088 495 Foreign currency translation and other 42 (192 ) Ending balance $ 4,928 $ 4,575 |
Segment Information (Details)
Segment Information (Details) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Dec. 31, 2015USD ($) | |
Segment Information [Line Items] | |||||
Number of Operating Segments | 4 | ||||
Revenues | $ 35,943 | $ 38,144 | $ 113,146 | $ 109,307 | |
Pre-tax results - income/(loss) | 1,387 | 3,291 | 7,913 | 8,356 | |
Equity in net income/(loss) of affiliated companies | 403 | 314 | 1,342 | 1,237 | |
Cash, cash equivalents, and marketable securities | 34,165 | 31,847 | 34,165 | 31,847 | |
Total assets | 234,963 | 219,578 | 234,963 | 219,578 | $ 224,925 |
Debt | 137,224 | 126,425 | 137,224 | 126,425 | |
Operating cash flows | 5,160 | 6,455 | 16,994 | 14,078 | |
Automotive capital spending | (4,912) | (5,358) | |||
Net cash flows from non-designated derivatives | 330 | 26 | |||
Operating Segments [Member] | Automotive | |||||
Segment Information [Line Items] | |||||
Revenues | 33,331 | 35,818 | 105,520 | 102,723 | |
Pre-tax results - income/(loss) | 1,084 | 2,762 | 7,380 | 7,246 | |
Equity in net income/(loss) of affiliated companies | 395 | 306 | 1,319 | 1,213 | |
Cash, cash equivalents, and marketable securities | 24,300 | 22,177 | 24,300 | 22,177 | |
Total assets | 97,269 | 92,873 | 97,269 | 92,873 | |
Debt | 13,147 | 12,798 | 13,147 | 12,798 | 12,839 |
Operating cash flows | (1,954) | 2,787 | 4,917 | 5,199 | |
Operating Segments [Member] | Financial Services [Member] | |||||
Segment Information [Line Items] | |||||
Revenues | 2,612 | 2,326 | 7,626 | 6,584 | |
Pre-tax results - income/(loss) | 552 | 526 | 1,436 | 1,486 | |
Equity in net income/(loss) of affiliated companies | 8 | 8 | 23 | 24 | |
Cash, cash equivalents, and marketable securities | 9,855 | 9,670 | 9,855 | 9,670 | |
Total assets | 142,979 | 130,626 | 142,979 | 130,626 | |
Debt | 124,077 | 113,627 | 124,077 | 113,627 | $ 120,015 |
Operating cash flows | 5,953 | 2,167 | 8,761 | 5,329 | |
Operating Segments [Member] | All Other [Member] | |||||
Segment Information [Line Items] | |||||
Revenues | 0 | 0 | 0 | 0 | |
Pre-tax results - income/(loss) | (223) | (163) | (573) | (542) | |
Equity in net income/(loss) of affiliated companies | 0 | 0 | 0 | 0 | |
Cash, cash equivalents, and marketable securities | 10 | 0 | 10 | 0 | |
Total assets | 67 | 0 | 67 | 0 | |
Debt | 0 | 0 | 0 | 0 | |
Operating cash flows | 0 | 0 | 0 | 0 | |
Special Items [Member] | |||||
Segment Information [Line Items] | |||||
Revenues | 0 | 0 | 0 | 0 | |
Pre-tax results - income/(loss) | (26) | 166 | (330) | 166 | |
Equity in net income/(loss) of affiliated companies | 0 | 0 | 0 | 0 | |
Cash, cash equivalents, and marketable securities | 0 | 0 | 0 | 0 | |
Total assets | 0 | 0 | 0 | 0 | |
Debt | 0 | 0 | 0 | 0 | |
Operating cash flows | 0 | 0 | 0 | 0 | |
Adjustments [Member] | |||||
Segment Information [Line Items] | |||||
Revenues | 0 | 0 | 0 | 0 | |
Pre-tax results - income/(loss) | 0 | 0 | 0 | 0 | |
Equity in net income/(loss) of affiliated companies | 0 | 0 | 0 | 0 | |
Cash, cash equivalents, and marketable securities | 0 | 0 | 0 | 0 | |
Total assets | (5,352) | (3,921) | (5,352) | (3,921) | |
Debt | 0 | 0 | 0 | 0 | |
Operating cash flows | 1,161 | 1,501 | 3,316 | 3,550 | |
Automotive capital spending | 1,696 | 1,819 | 4,879 | 5,324 | |
Net cash flows from non-designated derivatives | (246) | 119 | (322) | 90 | |
Funded pension contributions | (246) | (89) | (835) | (942) | |
Other | (3) | (258) | (208) | (322) | |
Employee Severance [Member] | Adjustments [Member] | |||||
Segment Information [Line Items] | |||||
Separation payments | $ (40) | $ (90) | $ (198) | $ (600) |
Cash, Cash Equivalents, and M39
Cash, Cash Equivalents, and Marketable Securities (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 |
Items measured at fair value [Line Items] | ||||
Total cash and cash equivalents | $ 13,340 | $ 14,272 | $ 14,686 | $ 10,757 |
Fair Value, Measurements, Recurring [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 1,544 | 596 | ||
Marketable securities | 20,825 | 20,904 | ||
Fair Value, Estimate Not Practicable, Carrying (Reported) Amount [Member] | Investment Type [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash, time deposits, and money market funds | 11,796 | 13,676 | ||
U.S. government | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 599 | 115 | ||
Marketable securities | 5,706 | 1,921 | ||
U.S. government agencies | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 4 | 22 | ||
Marketable securities | 4,638 | 6,409 | ||
Non-U.S. government and agencies | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 831 | 439 | ||
Marketable securities | 5,943 | 8,283 | ||
Corporate debt | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 110 | 20 | ||
Marketable securities | 4,249 | 3,663 | ||
Equities | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Marketable securities | 198 | 240 | ||
Other marketable securities | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Marketable securities | 91 | 388 | ||
Operating Segments [Member] | Automotive | ||||
Items measured at fair value [Line Items] | ||||
Total cash and cash equivalents | 7,655 | 5,386 | ||
Operating Segments [Member] | Automotive | Fair Value, Measurements, Recurring [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 1,210 | 330 | ||
Marketable securities | 16,645 | 18,181 | ||
Operating Segments [Member] | Automotive | Fair Value, Estimate Not Practicable, Carrying (Reported) Amount [Member] | Investment Type [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash, time deposits, and money market funds | 6,445 | 5,056 | ||
Operating Segments [Member] | Automotive | U.S. government | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 599 | 115 | ||
Marketable securities | 3,982 | 1,623 | ||
Operating Segments [Member] | Automotive | U.S. government agencies | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 0 | 22 | ||
Marketable securities | 3,284 | 5,240 | ||
Operating Segments [Member] | Automotive | Non-U.S. government and agencies | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 551 | 173 | ||
Marketable securities | 5,423 | 7,451 | ||
Operating Segments [Member] | Automotive | Corporate debt | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 60 | 20 | ||
Marketable securities | 3,709 | 3,279 | ||
Operating Segments [Member] | Automotive | Equities | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Marketable securities | 198 | 240 | ||
Operating Segments [Member] | Automotive | Other marketable securities | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Marketable securities | 49 | 348 | ||
Operating Segments [Member] | Financial Services | ||||
Items measured at fair value [Line Items] | ||||
Total cash and cash equivalents | 5,675 | 8,886 | ||
Operating Segments [Member] | Financial Services | Fair Value, Measurements, Recurring [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 334 | 266 | ||
Marketable securities | 4,180 | 2,723 | ||
Operating Segments [Member] | Financial Services | Fair Value, Estimate Not Practicable, Carrying (Reported) Amount [Member] | Investment Type [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash, time deposits, and money market funds | 5,341 | 8,620 | ||
Operating Segments [Member] | Financial Services | U.S. government | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | ||
Marketable securities | 1,724 | 298 | ||
Operating Segments [Member] | Financial Services | U.S. government agencies | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 4 | 0 | ||
Marketable securities | 1,354 | 1,169 | ||
Operating Segments [Member] | Financial Services | Non-U.S. government and agencies | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 280 | 266 | ||
Marketable securities | 520 | 832 | ||
Operating Segments [Member] | Financial Services | Corporate debt | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 50 | 0 | ||
Marketable securities | 540 | 384 | ||
Operating Segments [Member] | Financial Services | Equities | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Marketable securities | 0 | 0 | ||
Operating Segments [Member] | Financial Services | Other marketable securities | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Marketable securities | 42 | 40 | ||
Operating Segments [Member] | All Other [Member] | ||||
Items measured at fair value [Line Items] | ||||
Total cash and cash equivalents | 10 | 0 | ||
Operating Segments [Member] | All Other [Member] | Fair Value, Measurements, Recurring [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | ||
Marketable securities | 0 | 0 | ||
Operating Segments [Member] | All Other [Member] | Fair Value, Estimate Not Practicable, Carrying (Reported) Amount [Member] | Investment Type [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash, time deposits, and money market funds | 10 | 0 | ||
Operating Segments [Member] | All Other [Member] | U.S. government | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | ||
Marketable securities | 0 | 0 | ||
Operating Segments [Member] | All Other [Member] | U.S. government agencies | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | ||
Marketable securities | 0 | 0 | ||
Operating Segments [Member] | All Other [Member] | Non-U.S. government and agencies | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | ||
Marketable securities | 0 | 0 | ||
Operating Segments [Member] | All Other [Member] | Corporate debt | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | ||
Marketable securities | 0 | 0 | ||
Operating Segments [Member] | All Other [Member] | Equities | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Marketable securities | 0 | 0 | ||
Operating Segments [Member] | All Other [Member] | Other marketable securities | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Marketable securities | $ 0 | $ 0 |
Cash, Cash Equivalents, and M40
Cash, Cash Equivalents, and Marketable Securities Available for Sale Securities (Details) - USD ($) | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, Gross Realized Gains (Losses), Sale Proceeds | $ 69,000,000 | $ 0 | |
Available-for-sale Securities, Gross Realized Gains | 1,000,000 | 0 | |
Available-for-sale Securities, Realized Losses, Excluding Other than Temporary Impairments | 0 | 0 | |
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities | 0 | $ 0 | |
Operating Segments [Member] | Automotive | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities | 961,000,000 | $ 70,000,000 | |
Available-for-sale Securities, Amortized Cost Basis | 961,000,000 | 82,000,000 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | (12,000,000) | |
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Fair Value | 247,000,000 | 0 | |
Available-for-sale Securities, Debt Maturities, Rolling Year Two Through Five, Fair Value | 714,000,000 | 70,000,000 | |
Operating Segments [Member] | Automotive | U.S. government | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities | 447,000,000 | 0 | |
Available-for-sale Securities, Amortized Cost Basis | 447,000,000 | 0 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 | |
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Fair Value | 0 | 0 | |
Available-for-sale Securities, Debt Maturities, Rolling Year Two Through Five, Fair Value | 447,000,000 | 0 | |
Operating Segments [Member] | Automotive | U.S. government agencies | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities | 100,000,000 | 0 | |
Available-for-sale Securities, Amortized Cost Basis | 100,000,000 | 0 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 | |
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Fair Value | 0 | 0 | |
Available-for-sale Securities, Debt Maturities, Rolling Year Two Through Five, Fair Value | 100,000,000 | 0 | |
Operating Segments [Member] | Automotive | Non-U.S. government and agencies | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities | 77,000,000 | 70,000,000 | |
Available-for-sale Securities, Amortized Cost Basis | 77,000,000 | 82,000,000 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | (12,000,000) | |
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Fair Value | 0 | 0 | |
Available-for-sale Securities, Debt Maturities, Rolling Year Two Through Five, Fair Value | 77,000,000 | 70,000,000 | |
Operating Segments [Member] | Automotive | Corporate debt | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities | 337,000,000 | 0 | |
Available-for-sale Securities, Amortized Cost Basis | 337,000,000 | 0 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 | |
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Fair Value | 247,000,000 | 0 | |
Available-for-sale Securities, Debt Maturities, Rolling Year Two Through Five, Fair Value | $ 90,000,000 | $ 0 |
Financial Services Finance Re41
Financial Services Finance Receivables, net (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivables [Line Items] | ||||||
Financing Receivable, Gross | $ 95,642 | $ 91,064 | $ 85,564 | |||
Allowance for Credit Losses | (478) | $ (449) | (373) | (356) | $ (335) | $ (321) |
Finance receivables, net | 95,164 | 90,691 | 85,208 | |||
Finance receivables, net - Current portion | 45,550 | 45,137 | ||||
Finance receivables, net - Non-current portion | 49,614 | 45,554 | ||||
Net finance receivables subject to fair value | 93,033 | 88,876 | ||||
Finance Receivables Net Not Subject To Fair Value | 2,100 | 1,800 | ||||
Uncollected Interest Receivable Excluded From Finance Receivable | 206 | 209 | ||||
Consumer [Member] | ||||||
Financing Receivables [Line Items] | ||||||
Financing Receivable, Gross | 65,109 | 59,949 | 59,124 | |||
Allowance for Credit Losses | (464) | (432) | (357) | (342) | (322) | (305) |
Finance receivables, net | 64,645 | 58,782 | ||||
Amount of finance receivables that secure certain debt obligations | 29,900 | 27,600 | ||||
Consumer [Member] | Retail financing [Member] | ||||||
Financing Receivables [Line Items] | ||||||
Finance Receivable Before Unearned Interest Supplements | 67,894 | 62,068 | ||||
Unearned interest supplements | (2,785) | (2,119) | ||||
Financing Receivable, Gross | 65,109 | 59,949 | ||||
Non-consumer [Member] | ||||||
Financing Receivables [Line Items] | ||||||
Financing Receivable, Gross | 30,533 | 31,115 | 26,440 | |||
Allowance for Credit Losses | (14) | $ (17) | (16) | (14) | $ (13) | $ (16) |
Finance receivables, net | 30,519 | $ 26,426 | ||||
Amount of finance receivables that secure certain debt obligations | 23,300 | 26,100 | ||||
Non-consumer [Member] | Dealer financing [Member] | ||||||
Financing Receivables [Line Items] | ||||||
Financing Receivable, Gross | 30,533 | 31,115 | ||||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||
Financing Receivables [Line Items] | ||||||
Fair value | $ 94,327 | $ 90,048 |
Financial Services Finance Re42
Financial Services Finance Receivables - Aging (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | |
Financing Receivables, Aging [Line Items] | |||
Number Of Days After Which Finance Receivable Is Considered Past Due | 31 days | ||
Financing Receivable, Gross | $ 95,642 | $ 91,064 | $ 85,564 |
Consumer [Member] | |||
Financing Receivables, Aging [Line Items] | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 24 | 16 | |
Financing Receivable, Recorded Investment, Past Due | 839 | 881 | |
Financing Receivable, Recorded Investment, Current | 64,270 | 59,068 | |
Financing Receivable, Gross | 65,109 | 59,949 | 59,124 |
Consumer [Member] | Financing Receivables, 31 to 60 Days Past due [Member] | |||
Financing Receivables, Aging [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 652 | 708 | |
Consumer [Member] | Financing Receivables, 61 to 90 Days Past due [Member] | |||
Financing Receivables, Aging [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 112 | 108 | |
Consumer [Member] | Financing Receivables, 91 to 120 Days Past due [Member] | |||
Financing Receivables, Aging [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 36 | 27 | |
Consumer [Member] | Financing Receivables, Greater than 120 Days Past due [Member] | |||
Financing Receivables, Aging [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 39 | 38 | |
Non-consumer [Member] | |||
Financing Receivables, Aging [Line Items] | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 1 | |
Financing Receivable, Recorded Investment, Past Due | 71 | 116 | |
Financing Receivable, Recorded Investment, Current | 30,462 | 30,999 | |
Financing Receivable, Gross | $ 30,533 | $ 31,115 | $ 26,440 |
Financial Services Finance Re43
Financial Services Finance Receivables - Credit Quality (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | |
Credit quality [Line Items] | |||
Uncollected Interest Receivable Excluded From Finance Receivable | $ 206 | $ 209 | |
Financing Receivable By Credit Quality Indicator | 95,642 | 91,064 | $ 85,564 |
Consumer [Member] | |||
Credit quality [Line Items] | |||
Financing Receivable By Credit Quality Indicator | $ 65,109 | 59,949 | 59,124 |
Consumer [Member] | Minimum [Member] | Special Mention [Member] | |||
Credit quality [Line Items] | |||
Finance Receivables Credit Quality Ratings Term Range | 61 days | ||
Consumer [Member] | Minimum [Member] | Substandard [Member] | |||
Credit quality [Line Items] | |||
Finance Receivables Credit Quality Ratings Term Range | 120 days | ||
Consumer [Member] | Maximum [Member] | Pass [Member] | |||
Credit quality [Line Items] | |||
Finance Receivables Credit Quality Ratings Term Range | 60 days | ||
Consumer [Member] | Maximum [Member] | Special Mention [Member] | |||
Credit quality [Line Items] | |||
Finance Receivables Credit Quality Ratings Term Range | 120 days | ||
Non-consumer [Member] | |||
Credit quality [Line Items] | |||
Financing Receivable By Credit Quality Indicator | $ 30,533 | 31,115 | $ 26,440 |
Non-consumer [Member] | Dealer financing [Member] | |||
Credit quality [Line Items] | |||
Financing Receivable By Credit Quality Indicator | 30,533 | 31,115 | |
Non-consumer [Member] | Dealer financing [Member] | Group I | |||
Credit quality [Line Items] | |||
Financing Receivable By Credit Quality Indicator | 23,162 | 22,146 | |
Non-consumer [Member] | Dealer financing [Member] | Group II | |||
Credit quality [Line Items] | |||
Financing Receivable By Credit Quality Indicator | 5,847 | 7,175 | |
Non-consumer [Member] | Dealer financing [Member] | Group III | |||
Credit quality [Line Items] | |||
Financing Receivable By Credit Quality Indicator | 1,399 | 1,683 | |
Non-consumer [Member] | Dealer financing [Member] | Group IV | |||
Credit quality [Line Items] | |||
Financing Receivable By Credit Quality Indicator | $ 125 | $ 111 |
Financial Services Finance Re44
Financial Services Finance Receivables - Impaired (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Financing Receivable Impaired [Line Items] | ||
Number of Days Past Due After Which Consumer Receivables are Considered Impaired | 120 days | |
Consumer [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Impaired Financing Receivable, Recorded Investment | $ 366 | $ 375 |
Impaired Financing Receivable Recorded Investment, Percentage of Receivable | 0.60% | 0.60% |
Non-consumer [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Impaired Financing Receivable, Recorded Investment | $ 140 | $ 134 |
Impaired Financing Receivable Recorded Investment, Percentage of Receivable | 0.50% | 0.40% |
Financial Services Allowance 45
Financial Services Allowance for Credit Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Allowance for credit losses [Roll Forward] | |||||
Beginning balance | $ 449 | $ 335 | $ 373 | $ 321 | |
Charge-offs | (113) | (87) | (311) | (238) | |
Recoveries | 30 | 30 | 93 | 94 | |
Provision for credit losses | 113 | 82 | 324 | 188 | |
Other | (1) | (4) | (1) | (9) | |
Ending balance | 478 | 356 | 478 | 356 | |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||||
Collective impairment allowance | 457 | 335 | 457 | 335 | |
Specific impairment allowance | 21 | 21 | 21 | 21 | |
Collectively evaluated for impairment | 95,136 | 85,060 | 95,136 | 85,060 | |
Specifically evaluated for impairment | 506 | 504 | 506 | 504 | |
Financing Receivable, Gross | 95,642 | 85,564 | 95,642 | 85,564 | $ 91,064 |
Financial Services finance receivables, net | 95,164 | 85,208 | 95,164 | 85,208 | 90,691 |
Financing And Loans And Leases Receivable Allowance | 541 | 403 | 541 | 403 | |
Consumer [Member] | |||||
Allowance for credit losses [Roll Forward] | |||||
Beginning balance | 432 | 322 | 357 | 305 | |
Charge-offs | (108) | (85) | (304) | (235) | |
Recoveries | 29 | 29 | 89 | 90 | |
Provision for credit losses | 112 | 80 | 323 | 190 | |
Other | (1) | (4) | (1) | (8) | |
Ending balance | 464 | 342 | 464 | 342 | |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||||
Collective impairment allowance | 445 | 323 | 445 | 323 | |
Specific impairment allowance | 19 | 19 | 19 | 19 | |
Collectively evaluated for impairment | 64,743 | 58,749 | 64,743 | 58,749 | |
Specifically evaluated for impairment | 366 | 375 | 366 | 375 | |
Financing Receivable, Gross | 65,109 | 59,124 | 65,109 | 59,124 | 59,949 |
Financial Services finance receivables, net | 64,645 | 58,782 | 64,645 | 58,782 | |
Non-consumer [Member] | |||||
Allowance for credit losses [Roll Forward] | |||||
Beginning balance | 17 | 13 | 16 | 16 | |
Charge-offs | (5) | (2) | (7) | (3) | |
Recoveries | 1 | 1 | 4 | 4 | |
Provision for credit losses | 1 | 2 | 1 | (2) | |
Other | 0 | 0 | 0 | (1) | |
Ending balance | 14 | 14 | 14 | 14 | |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||||
Collective impairment allowance | 12 | 12 | 12 | 12 | |
Specific impairment allowance | 2 | 2 | 2 | 2 | |
Collectively evaluated for impairment | 30,393 | 26,311 | 30,393 | 26,311 | |
Specifically evaluated for impairment | 140 | 129 | 140 | 129 | |
Financing Receivable, Gross | 30,533 | 26,440 | 30,533 | 26,440 | $ 31,115 |
Financial Services finance receivables, net | $ 30,519 | $ 26,426 | $ 30,519 | $ 26,426 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Inventory Disclosure [Abstract] | ||
Percentage Of LIFO Inventory To Total Inventory | 32.00% | 27.00% |
Raw materials, work-in-process, and supplies | $ 4,335 | $ 4,005 |
Finished products | 6,823 | 5,254 |
Total inventories under FIFO | 11,158 | 9,259 |
LIFO adjustment | (939) | (940) |
Total inventories | $ 10,219 | $ 8,319 |
Other Liabilities and Deferre47
Other Liabilities and Deferred Revenue (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Other Liabilities [Abstract] | ||
Dealer and Dealers' Customer Allowances and Claims | $ 9,050 | $ 8,122 |
Deferred Revenue, Current | 4,715 | 4,675 |
Deferred Compensation Liability, Current | 1,505 | 1,562 |
Interest Payable, Current | 761 | 840 |
Other Postretirement Defined Benefit Plan Liabilities Current | 357 | 354 |
Defined Benefit Pension Plan Liabilities, Current | 268 | 249 |
Other Sundry Liabilities, Current | 2,875 | 3,287 |
Other Liabilities, Current | 19,531 | 19,089 |
Pension (a) | 9,024 | 9,543 |
OPEB | 5,362 | 5,347 |
Dealer and dealers’ customer allowances and claims | 3,146 | 2,731 |
Deferred revenue | 3,639 | 3,285 |
Employee benefit plans | 1,112 | 1,041 |
Other | 1,369 | 1,510 |
Total non-current other liabilities and deferred revenue | 23,652 | 23,457 |
Net pension assets | $ 2,300 | $ 1,600 |
Retirement Benefits - Expense (
Retirement Benefits - Expense (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Effect of Change in Interest Method on Service and Interest Cost Components | $ (145) | $ (435) | ||
U.S. Plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 128 | $ 147 | 383 | $ 440 |
Interest cost | 381 | 454 | 1,143 | 1,363 |
Expected return on assets | (673) | (732) | (2,020) | (2,196) |
Amortization of prior service costs/(credits) | 43 | 38 | 128 | 116 |
Net remeasurement (gain)/loss | 0 | 0 | 0 | 0 |
Separation programs/other | 6 | 4 | 9 | 6 |
Net periodic benefit cost/(income) | (115) | (89) | (357) | (271) |
Non-U.S. Plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 116 | 133 | 358 | 401 |
Interest cost | 190 | 236 | 587 | 707 |
Expected return on assets | (329) | (372) | (1,018) | (1,116) |
Amortization of prior service costs/(credits) | 9 | 13 | 28 | 36 |
Net remeasurement (gain)/loss | 0 | 0 | 11 | 0 |
Separation programs/other | 16 | 11 | 88 | 30 |
Net periodic benefit cost/(income) | 2 | 21 | 54 | 58 |
Worldwide OPEB | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 13 | 15 | 37 | 45 |
Interest cost | 49 | 59 | 146 | 178 |
Expected return on assets | 0 | 0 | 0 | 0 |
Amortization of prior service costs/(credits) | (35) | (51) | (106) | (154) |
Net remeasurement (gain)/loss | 0 | 0 | 0 | 0 |
Separation programs/other | (1) | 0 | (1) | 1 |
Net periodic benefit cost/(income) | 26 | $ 23 | 76 | $ 70 |
Defined Benefit Plan, Estimated Future Employer Contributions To Funded Plans in Current Fiscal Year | 1,200 | 1,200 | ||
Defined Benefit Plan Estimated Future Employer Discretionary Contributions In Next Fiscal Year | 100 | |||
Defined Benefit Plan Change In Estimated Future Employer Contributions To Funded Plans in Current Fiscal Year | (300) | (300) | ||
Pension And Other Postretirement Expected Benefit Contributions Unfunded Plans | 300 | 300 | ||
Pension and Other Postretirement Benefit Contributions and Expected Future Employer Contributions To Funded and Unfunded Plans | $ 1,500 | 1,500 | ||
Pension and Other Postretirement Benefit Contributions | 800 | |||
Pension and Other Postretirement Benefit Contributions Unfunded Plans | $ 200 |
Debt - Debt Outstanding (Detail
Debt - Debt Outstanding (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Debt Instrument [Line Items] | |||
Total debt | $ 137,224 | $ 126,425 | |
Operating Segments [Member] | Automotive | |||
Debt Instrument [Line Items] | |||
Unamortized (discount)/premium, current | (53) | $ 0 | |
Total debt payable within one year | 2,472 | 1,779 | |
Unamortized (discount)/premium, noncurrent | (338) | (412) | |
Unamortized issuance costs, noncurrent | (58) | (60) | |
Total long-term debt payable after one year | 10,675 | 11,060 | |
Total debt | 13,147 | 12,839 | 12,798 |
Operating Segments [Member] | Automotive | Corporate debt | |||
Debt Instrument [Line Items] | |||
Long-term debt payable after one year | 6,594 | 6,594 | |
Operating Segments [Member] | Automotive | Notes Payable, Other Payables [Member] | |||
Debt Instrument [Line Items] | |||
Long-term payable within one year | 765 | 370 | |
Long-term debt payable after one year | 1,678 | 1,696 | |
Operating Segments [Member] | Automotive | Notes Payable, Other Payables [Member] | Advanced Technology Vehicles Manufacturing Program [Member] | |||
Debt Instrument [Line Items] | |||
Long-term payable within one year | 591 | 591 | |
Long-term debt payable after one year | 2,799 | 3,242 | |
Operating Segments [Member] | Automotive | Notes Payable, Other Payables [Member] | |||
Debt Instrument [Line Items] | |||
Short-term Debt | 1,169 | 818 | |
Operating Segments [Member] | Automotive | Fair Value, Measurements, Nonrecurring [Member] | Level 2 [Member] | |||
Debt Instrument [Line Items] | |||
Fair Value | 15,158 | 14,199 | |
Operating Segments [Member] | Automotive | Short-term Debt [Member] | Fair Value, Estimate Not Practicable, Carrying (Reported) Amount [Member] | |||
Debt Instrument [Line Items] | |||
Fair Value, Estimate Not Practicable, Debt Instrument | 941 | 560 | |
Operating Segments [Member] | Financial Services [Member] | |||
Debt Instrument [Line Items] | |||
Unamortized (discount)/premium, current | (4) | (5) | |
Unamortized issuance costs, current | (20) | (18) | |
Adjustment Fair Value Hedging Instruments Unsecured Debt, Current | 23 | 0 | |
Total debt payable within one year | 44,801 | 41,196 | |
Unamortized (discount)/premium, noncurrent | (5) | (24) | |
Unamortized issuance costs, noncurrent | (213) | (198) | |
Fair value adjustments, noncurrent | 1,032 | 458 | |
Total long-term debt payable after one year | 79,276 | 78,819 | |
Total debt | 124,077 | 120,015 | $ 113,627 |
Operating Segments [Member] | Financial Services [Member] | Unsecured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt payable after one year | 53,985 | 49,193 | |
Operating Segments [Member] | Financial Services [Member] | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Long-term payable within one year | 19,263 | 18,855 | |
Long-term debt payable after one year | 24,477 | 29,390 | |
Operating Segments [Member] | Financial Services [Member] | Unsecured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Long-term payable within one year | 12,586 | 10,241 | |
Operating Segments [Member] | Financial Services [Member] | Notes Payable, Other Payables [Member] | |||
Debt Instrument [Line Items] | |||
Short-term Debt | 12,953 | 12,123 | |
Operating Segments [Member] | Financial Services [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 2 [Member] | |||
Debt Instrument [Line Items] | |||
Fair Value | 126,175 | 121,170 | |
Operating Segments [Member] | Financial Services [Member] | Short-term Debt [Member] | Fair Value, Estimate Not Practicable, Carrying (Reported) Amount [Member] | |||
Debt Instrument [Line Items] | |||
Fair Value, Estimate Not Practicable, Debt Instrument | $ 12,500 | $ 10,300 |
Income Effect of Derivative Fin
Income Effect of Derivative Financial Instruments (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Derivative [Line Items] | ||||
Gain/(Loss) Recognized in Income | $ 477 | $ 128 | $ 1,109 | $ 236 |
Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments | (228) | 373 | 655 | 345 |
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | 227 | (363) | (634) | (339) |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Foreign currency exchange contracts [Member] | ||||
Derivative [Line Items] | ||||
Gain/(Loss) Reclassified from AOCI to Income | 202 | (60) | 335 | (196) |
Gain/(Loss) Recorded in OCI | 340 | 453 | 887 | 86 |
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Interest rate contracts [Member] | ||||
Derivative [Line Items] | ||||
Net interest settlements and accruals excluded from the assessment of hedge effectiveness | 95 | 94 | 292 | 271 |
Ineffectiveness - gain (loss) on interest rate fair value hedge | (1) | 10 | 21 | 6 |
Not Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | ||||
Derivative [Line Items] | ||||
Gain/(Loss) Recognized in Income | 29 | 65 | 61 | 210 |
Not Designated as Hedging Instrument [Member] | Cross-currency interest rate swap contracts [Member] | ||||
Derivative [Line Items] | ||||
Gain/(Loss) Recognized in Income | 128 | 63 | 463 | 75 |
Not Designated as Hedging Instrument [Member] | Interest rate contracts [Member] | ||||
Derivative [Line Items] | ||||
Gain/(Loss) Recognized in Income | 21 | (22) | (70) | (83) |
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | ||||
Derivative [Line Items] | ||||
Gain/(Loss) Recognized in Income | $ 3 | $ (22) | $ 7 | $ (47) |
Balance Sheet Effect of Derivat
Balance Sheet Effect of Derivative Financial Instruments (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Derivative [Line Items] | ||
Notional | $ 136,197,000,000 | $ 129,083,000,000 |
Derivative Asset, Current | 1,395,000,000 | 1,209,000,000 |
Derivative Asset, Noncurrent | 1,527,000,000 | 643,000,000 |
Derivative Asset | 2,922,000,000 | 1,852,000,000 |
Derivative Liability, Current | 297,000,000 | 692,000,000 |
Derivative Liability, Noncurrent | 94,000,000 | 181,000,000 |
Derivative Liability | 391,000,000 | 873,000,000 |
Derivative, pledged cash collateral | 13,000,000 | 0 |
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Notional | 16,775,000,000 | 12,593,000,000 |
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Fair Value Hedging [Member] | ||
Derivative [Line Items] | ||
Notional | 36,215,000,000 | 28,964,000,000 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Notional | 17,267,000,000 | 21,108,000,000 |
Not Designated as Hedging Instrument [Member] | Cross-currency interest rate swap contracts [Member] | ||
Derivative [Line Items] | ||
Notional | 3,765,000,000 | 3,137,000,000 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Notional | 61,650,000,000 | 62,638,000,000 |
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | ||
Derivative [Line Items] | ||
Notional | 525,000,000 | 643,000,000 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 2,922,000,000 | 1,852,000,000 |
Fair Value of Liabilities | 391,000,000 | 873,000,000 |
Counterparty Netting, Not Offset | 347,000,000 | 733,000,000 |
Counterparty Netting, Not Offset | 347,000,000 | 733,000,000 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 818,000,000 | 522,000,000 |
Fair Value of Liabilities | 136,000,000 | 366,000,000 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Fair Value Hedging [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 1,217,000,000 | 670,000,000 |
Fair Value of Liabilities | 0 | 16,000,000 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 352,000,000 | 426,000,000 |
Fair Value of Liabilities | 129,000,000 | 242,000,000 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Not Designated as Hedging Instrument [Member] | Cross-currency interest rate swap contracts [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 383,000,000 | 73,000,000 |
Fair Value of Liabilities | 0 | 111,000,000 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 142,000,000 | 159,000,000 |
Fair Value of Liabilities | 122,000,000 | 112,000,000 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 10,000,000 | 2,000,000 |
Fair Value of Liabilities | $ 4,000,000 | $ 26,000,000 |
Accumulated Other Comprehensi52
Accumulated Other Comprehensive Income/(Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Abstract] | |||||
Total AOCI ending balance at September 30 | $ (6,046) | $ (6,046) | $ (6,257) | ||
Derivative instruments [Abstract] | |||||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | 548 | ||||
Parent Company [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | |||||
Total AOCI ending balance at September 30 | (6,046) | $ (5,872) | (6,046) | $ (5,872) | |
Foreign currency transaction [Abstract] | |||||
Beginning balance | (3,691) | (2,371) | (3,570) | (2,438) | |
Gains/(Losses) on foreign currency translation | (183) | (883) | (271) | (816) | |
Less: Tax/(Tax benefit) | 0 | 0 | 0 | 0 | |
Net gains/(losses) on foreign currency translation | (183) | (883) | (271) | (816) | |
(Gains)/Losses reclassified from AOCI to income | 0 | 0 | (33) | 0 | |
Other comprehensive income/(loss), net of tax | (183) | (883) | (304) | (816) | |
Ending balance | (3,874) | (3,254) | (3,874) | (3,254) | |
Marketable securities [Abstract] | |||||
Beginning balance | 0 | 0 | (6) | 0 | |
Gains/(Losses) on available for sale securities | 0 | 0 | 11 | 0 | |
Less: Tax/(Tax benefit) | 0 | 0 | 0 | 0 | |
Net gains/(losses) on available for sale securities | 0 | 0 | 11 | 0 | |
(Gains)/Losses reclassified from AOCI to net income | 0 | 0 | (1) | 0 | |
Less: Tax/(Tax benefit) | 0 | 0 | 4 | 0 | |
Net (gains)/losses reclassified from AOCI to net income | 0 | 0 | (5) | 0 | |
Other comprehensive income/(loss), net of tax | 0 | 0 | 6 | 0 | |
Ending balance | 0 | 0 | 0 | 0 | |
Derivative instruments [Abstract] | |||||
Beginning balance | 421 | (329) | 64 | (163) | |
Gains/(Losses) on available for sale securities | 340 | 453 | 887 | 86 | |
Less: Tax/(Tax benefit) | 87 | 196 | 181 | 86 | |
Net gains/(losses) on available for sale securities | 253 | 257 | 706 | 0 | |
(Gains)/Losses reclassified from AOCI to net income | (202) | 60 | (335) | 196 | |
Less: Tax/(Tax benefit) | (48) | (57) | (85) | (12) | |
Net (gains)/losses reclassified from AOCI to net income | (154) | 117 | (250) | 208 | |
Other comprehensive income/(loss), net of tax | 99 | 374 | 456 | 208 | |
Ending balance | 520 | 45 | 520 | 45 | |
Pension and other postretirement benefits | |||||
Beginning balance | (2,706) | (2,796) | (2,745) | (2,664) | |
Amortization of prior service costs/(credits) | 17 | 0 | 50 | (2) | |
Less: Tax/(Tax benefit) | 7 | (86) | 17 | (9) | |
Net prior service costs/(credits) reclassified from AOCI to net income | 10 | 86 | 33 | 7 | |
Translation impact on non-U.S. plans | 4 | 47 | 20 | (6) | |
Other comprehensive income/(loss), net of tax | 14 | 133 | 53 | 1 | |
Ending balance | $ (2,692) | $ (2,663) | $ (2,692) | $ (2,663) |
Other Income_(Loss) (Details)
Other Income/(Loss) (Details) - Operating Segments [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Non-Financial Services [Member] | ||||
Investment-related interest income | $ 50 | $ 60 | $ 163 | $ 161 |
Interest income/(expense) on income taxes | 9 | 0 | 8 | 1 |
Realized and unrealized gains/(losses) on cash equivalents and marketable securities | (13) | 189 | 52 | 146 |
Gains/(Losses) on changes in investments in affiliates | (1) | 0 | 180 | 18 |
Royalty income | 174 | 149 | 494 | 448 |
Other | 109 | 48 | 224 | 134 |
Total | 328 | 446 | 1,121 | 908 |
Financial Services [Member] | ||||
Investment-related interest income | 18 | 19 | 57 | 58 |
Interest income/(expense) on income taxes | (2) | (3) | 11 | (9) |
Insurance premiums earned | 38 | 32 | 118 | 97 |
Other | 78 | 49 | 119 | 95 |
Total | $ 132 | $ 97 | $ 305 | $ 241 |
Capital Stock and Earnings Pe54
Capital Stock and Earnings Per Share (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Basic and Diluted Income Attributable to Ford Motor Company [Abstract] | ||||
Basic income | $ 957 | $ 2,192 | $ 5,379 | $ 5,505 |
Diluted income | $ 957 | $ 2,192 | $ 5,379 | $ 5,505 |
Basic and Diluted Shares [Abstract] | ||||
Basic shares (average shares outstanding) | 3,974 | 3,969 | 3,972 | 3,968 |
Net dilutive options and unvested restricted stock units | 26 | 30 | 25 | 34 |
Diluted shares | 4,000 | 3,999 | 3,997 | 4,002 |
Commitments and Contingencies55
Commitments and Contingencies (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Loss Contingency [Abstract] | |||
Loss contingency estimate | $ 2,800 | ||
Warranty [Abstract] | |||
Product warranty reserve, beginning balance | 4,558 | $ 4,785 | |
Payments made during the period | (2,464) | (2,036) | |
Changes in accrual related to warranties issued during the period | 1,704 | 1,523 | |
Changes in accrual related to pre-existing warranties | 1,088 | 495 | |
Foreign currency translation and other | 42 | (192) | |
Product warranty reserve, ending balance | 4,928 | $ 4,575 | |
Affiliated Entity [Member] | |||
Guarantees [Abstract] | |||
Maximum potential payments | 227 | $ 284 | |
Carrying value of recorded liabilities related to guarantees and indemnifications | $ 23 | $ 23 |