DOCUMENT AND ENTITY INFORMATION
DOCUMENT AND ENTITY INFORMATION Document - shares | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2019 | Jul. 19, 2019 | |
Document Type | 10-Q | ||
Document Quarterly Report | true | ||
Document Period End Date | Jun. 30, 2019 | ||
Document Transition Report | false | ||
Entity File Number | 1-3950 | ||
Entity Registrant Name | FORD MOTOR CO | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 38-0549190 | ||
Document Fiscal Period Focus | Q2 | ||
Entity Address, Address Line One | One American Road | ||
Entity Address, City or Town | Dearborn, | ||
Entity Address, State or Province | MI | ||
Entity Address, Postal Zip Code | 48126 | ||
City Area Code | 313 | ||
Local Phone Number | 322-3000 | ||
Title of 12(b) Security | Common Stock, par value $.01 per share | ||
Trading Symbol | F | ||
Security Exchange Name | NYSE | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2019 | ||
Entity Central Index Key | 0000037996 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Small Business | false | ||
Common Stock | |||
Entity Common Stock, Shares Outstanding | 3,918,991,225 | ||
Class B Stock | |||
Entity Common Stock, Shares Outstanding | 70,852,076 | ||
FPRB | |||
Title of 12(b) Security | 6.200% Notes due June 1, 2059 | ||
Trading Symbol | FPRB |
CONSOLIDATED INCOME STATEMENT
CONSOLIDATED INCOME STATEMENT - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Revenues | ||||
Total revenues (Note 3) | $ 38,853 | $ 38,920 | $ 79,195 | $ 80,879 |
Costs and expenses | ||||
Cost of sales | 33,657 | 33,194 | 67,599 | 68,947 |
Selling, administrative, and other expenses | 2,725 | 2,778 | 5,568 | 5,525 |
Total costs and expenses | 38,763 | 38,334 | 77,903 | 79,172 |
Other income/(loss), net | 272 | 1,004 | 900 | 1,867 |
Equity in net income of affiliated companies | 87 | 60 | 112 | 284 |
Income before income taxes | 205 | 1,349 | 1,815 | 3,268 |
Provision for/(Benefit from) income taxes | 55 | 280 | 482 | 454 |
Net income | 150 | 1,069 | 1,333 | 2,814 |
Less: Income/(Loss) attributable to noncontrolling interests | 2 | 3 | 39 | 12 |
Net income attributable to Ford Motor Company | $ 148 | $ 1,066 | $ 1,294 | $ 2,802 |
Basic income | ||||
Basic income (in dollars per share) | $ 0.04 | $ 0.27 | $ 0.33 | $ 0.70 |
Diluted income | ||||
Diluted income (in dollars per share) | $ 0.04 | $ 0.27 | $ 0.32 | $ 0.70 |
Weighted Average Number of Shares Outstanding, Basic | 3,984 | 3,977 | 3,979 | 3,976 |
Weighted Average Number of Shares Outstanding, Diluted | 4,013 | 3,999 | 4,005 | 3,998 |
Operating Segments | Automotive | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 35,758 | $ 35,905 | $ 72,997 | $ 74,917 |
Revenues | ||||
Total revenues (Note 3) | 35,758 | 35,905 | 72,997 | 74,917 |
Costs and expenses | ||||
Interest expense on Automotive debt | 230 | 287 | 461 | 562 |
Equity in net income of affiliated companies | 72 | 54 | 89 | 272 |
Income before income taxes | 1,373 | 1,157 | 3,382 | 2,889 |
Operating Segments | Ford Credit | ||||
Revenue from Contract with Customer, Including Assessed Tax | 3,089 | 3,009 | 6,186 | 5,952 |
Revenues | ||||
Total revenues (Note 3) | 3,089 | 3,009 | 6,186 | 5,952 |
Costs and expenses | ||||
Financing Interest Expense | 2,381 | 2,362 | 4,736 | 4,700 |
Equity in net income of affiliated companies | 8 | 6 | 14 | 12 |
Income before income taxes | 831 | 645 | 1,632 | 1,286 |
Operating Segments | All Other | ||||
Costs and expenses | ||||
Interest expense on Automotive debt | 14 | 14 | 28 | 28 |
Operating Segments | Mobility | ||||
Revenue from Contract with Customer, Including Assessed Tax | 6 | 6 | 12 | 10 |
Revenues | ||||
Total revenues (Note 3) | 6 | 6 | 12 | 10 |
Costs and expenses | ||||
Equity in net income of affiliated companies | 7 | 0 | 9 | 0 |
Income before income taxes | $ (264) | $ (181) | $ (552) | $ (283) |
CONSOLIDATED STATEMENT OF COMPR
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 150 | $ 1,069 | $ 1,333 | $ 2,814 |
Foreign currency translation | (127) | (595) | 116 | (300) |
Marketable Securities | 59 | (8) | 122 | (55) |
Derivative instruments | 117 | 52 | (329) | 85 |
Pension and other postretirement benefits | 16 | 17 | 21 | 25 |
Total other comprehensive income/(loss), net of tax | 65 | (534) | (70) | (245) |
Comprehensive income | 215 | 535 | 1,263 | 2,569 |
Less: Comprehensive income/(loss) attributable to noncontrolling interests | 2 | 4 | 39 | 12 |
Comprehensive income attributable to Ford Motor Company | $ 213 | $ 531 | $ 1,224 | $ 2,557 |
CONSOLIDATED BALANCE SHEET
CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Current Assets | ||
Cash and cash equivalents (Note 7) | $ 22,117 | $ 16,718 |
Marketable securities (Note 7) | 15,931 | 17,233 |
Ford Credit finance receivables, net (Note 8) | 53,756 | 54,353 |
Trade and other receivables, less allowances of $94 and $60 | 10,941 | 11,195 |
Inventories | 12,437 | 11,220 |
Other assets, current | 3,169 | 3,930 |
Total current assets | 118,351 | 114,649 |
Noncurrent Assets | ||
Ford Credit finance receivables, net (Note 8) | 53,875 | 55,544 |
Net investment in operating leases | 29,798 | 29,119 |
Net property | 36,581 | 36,178 |
Equity in net assets of affiliated companies | 2,637 | 2,709 |
Deferred income taxes | 10,153 | 10,412 |
Other assets, non-current | 10,789 | 7,929 |
Total assets | 262,184 | 256,540 |
Current Liabilities | ||
Payables | 22,980 | 21,520 |
Other liabilities and deferred revenue (Note 14) | 22,503 | 20,556 |
Total current liabilities | 98,334 | 95,569 |
Noncurrent Liabilities | ||
Other liabilities and deferred revenue (Note 14) | 24,032 | 23,588 |
Deferred income taxes | 469 | 597 |
Total liabilities | 226,048 | 220,474 |
Redeemable noncontrolling interest (Note 20) | 0 | 100 |
EQUITY | ||
Capital in excess of par value of stock | 22,111 | 22,006 |
Retained earnings | 22,769 | 22,668 |
Accumulated other comprehensive income/(loss) (Note 21) | (7,436) | (7,366) |
Treasury stock | (1,388) | (1,417) |
Total equity attributable to Ford Motor Company | 36,097 | 35,932 |
Equity attributable to noncontrolling interests | 39 | 34 |
Total equity | 36,136 | 35,966 |
Total liabilities and equity | 262,184 | 256,540 |
Common Stock | ||
EQUITY | ||
Common and Class B Stock | 40 | 40 |
Class B Stock | ||
EQUITY | ||
Common and Class B Stock | 1 | 1 |
Ford Credit | ||
Current Assets | ||
Ford Credit finance receivables, net (Note 8) | 53,756 | 54,353 |
Ford Credit finance receivables, net | 107,631 | 109,897 |
Noncurrent Assets | ||
Ford Credit finance receivables, net (Note 8) | 53,875 | 55,544 |
Operating Segments | Automotive | ||
Current Assets | ||
Cash and cash equivalents (Note 7) | 9,381 | 7,058 |
Noncurrent Assets | ||
Net investment in operating leases | 2,107 | (1,705) |
Total assets | 102,641 | |
Current Liabilities | ||
Debt payable within one year | 2,229 | 2,314 |
Noncurrent Liabilities | ||
Long-term debt | 11,765 | 11,233 |
Debt | 13,994 | 13,547 |
Operating Segments | Ford Credit | ||
Current Assets | ||
Cash and cash equivalents (Note 7) | 12,618 | 9,607 |
Noncurrent Assets | ||
Net investment in operating leases | 27,691 | 27,414 |
Total assets | 163,141 | |
Current Liabilities | ||
Debt payable within one year | 50,492 | 51,179 |
Noncurrent Liabilities | ||
Long-term debt | 90,978 | 88,887 |
Debt | 141,470 | 140,066 |
Operating Segments | Other | ||
Current Liabilities | ||
Debt payable within one year | 130 | 0 |
Noncurrent Liabilities | ||
Long-term debt | 470 | 600 |
Debt | 600 | 600 |
Variable Interest Entity, Primary Beneficiary | ||
Current Assets | ||
Cash and cash equivalents (Note 7) | 3,719 | 2,728 |
Ford Credit finance receivables, net | 58,118 | 58,662 |
Noncurrent Assets | ||
Net investment in operating leases | 13,986 | 16,332 |
Other assets | 8 | 27 |
Noncurrent Liabilities | ||
Other liabilities and deferred revenue | 62 | 24 |
Debt | $ 51,791 | $ 53,269 |
CONSOLIDATED BALANCE SHEET (Par
CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) shares in Millions, $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
ASSETS | ||
Allowance for trade and other receivables | $ 60 | $ 94 |
Common Stock | ||
EQUITY | ||
Common Stock, par value (in dollars per share) | $ 0.01 | |
Common Stock, shares issued (in shares) | 4,011 | |
Common Stock, Shares Authorized (in shares) | 6,000 | |
Class B Stock | ||
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 | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract] | ||
Net cash provided by/(used in) operating activities | $ 10,007 | $ 8,486 |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations [Abstract] | ||
Capital spending | (3,553) | (3,688) |
Acquisitions of finance receivables and operating leases | (26,202) | (32,273) |
Collections of finance receivables and operating leases | 24,974 | 25,980 |
Purchases of marketable securities and other investments | (7,670) | (11,725) |
Sales and maturities of marketable securities and other investments | 8,540 | 12,756 |
Settlements of derivatives | 83 | 109 |
Other | 4 | (181) |
Net cash provided by/(used in) investing activities | (3,824) | (9,022) |
Net Cash Provided by (Used in) Financing Activities, Continuing Operations [Abstract] | ||
Cash payments for dividends and dividend equivalents | (1,196) | (1,711) |
Purchases of common stock | 0 | (89) |
Net changes in short-term debt | 71 | (1,735) |
Proceeds from issuance of long-term debt | 26,233 | 28,135 |
Principal payments on long-term debt | (25,767) | (25,299) |
Other | (149) | (93) |
Net cash provided by/(used in) financing activities | (808) | (792) |
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 24 | (289) |
Cash, cash equivalents, and restricted cash at beginning of period (Note 7) | 16,907 | 18,638 |
Cash, cash equivalents, and restricted cash at end of period (Note 7) | 22,117 | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $ 5,399 | $ (1,617) |
CONSOLIDATED STATEMENT OF EQUIT
CONSOLIDATED STATEMENT OF EQUITY - USD ($) $ in Millions | Total | Capital Stock | Cap. in Excess of Par Value of Stock | Retained Earnings | Accumulated Other Comprehensive Income/(Loss) (Note 21) | Treasury Stock | Total | Equity Attributable to Non-controlling Interests |
Beginning balance at Dec. 31, 2017 | $ 35,606 | $ 41 | $ 21,843 | $ 21,906 | $ (6,959) | $ (1,253) | $ 35,578 | $ 28 |
Increase (Decrease) in Stockholders' Equity | ||||||||
Net income | 1,745 | 0 | 0 | 1,736 | 0 | 0 | 1,736 | 9 |
Other comprehensive income/(loss), net of tax | 289 | 0 | 0 | 0 | 290 | 0 | 290 | (1) |
Common stock issued (including share-based compensation impacts) | (2) | 0 | (2) | 0 | 0 | 0 | (2) | 0 |
Treasury stock/other | (89) | 0 | 0 | 0 | 0 | (89) | (89) | 0 |
Cash dividends declared | (1,113) | 0 | 0 | (1,113) | 0 | 0 | (1,113) | |
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 0 | |||||||
Ending balance at Mar. 31, 2018 | $ 36,436 | 41 | 21,841 | 22,529 | (6,669) | (1,342) | 36,400 | 36 |
Increase (Decrease) in Stockholders' Equity | ||||||||
Per share dividend of Common and Class B Stock | $ 0.28 | |||||||
Beginning balance at Dec. 31, 2017 | $ 35,606 | 41 | 21,843 | 21,906 | (6,959) | (1,253) | 35,578 | 28 |
Increase (Decrease) in Stockholders' Equity | ||||||||
Net income | 2,814 | |||||||
Other comprehensive income/(loss), net of tax | (245) | |||||||
Ending balance at Jun. 30, 2018 | 36,469 | 41 | 21,953 | 22,993 | (7,204) | (1,342) | 36,441 | 28 |
Beginning balance at Mar. 31, 2018 | 36,436 | 41 | 21,841 | 22,529 | (6,669) | (1,342) | 36,400 | 36 |
Increase (Decrease) in Stockholders' Equity | ||||||||
Net income | 1,069 | 0 | 0 | 1,066 | 0 | 0 | 1,066 | 3 |
Other comprehensive income/(loss), net of tax | (534) | 0 | 0 | 0 | (535) | 0 | (535) | 1 |
Common stock issued (including share-based compensation impacts) | 112 | 0 | 112 | 0 | 0 | 0 | 112 | 0 |
Treasury stock/other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Dividends and dividend equivalents declared | (614) | 0 | 0 | (602) | 0 | 0 | (602) | |
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | (12) | |||||||
Ending balance at Jun. 30, 2018 | $ 36,469 | 41 | 21,953 | 22,993 | (7,204) | (1,342) | 36,441 | 28 |
Increase (Decrease) in Stockholders' Equity | ||||||||
Per share dividend of Common and Class B Stock | $ 0.15 | |||||||
Beginning balance at Dec. 31, 2018 | $ 35,966 | 41 | 22,006 | 22,668 | (7,366) | (1,417) | 35,932 | 34 |
Increase (Decrease) in Stockholders' Equity | ||||||||
Adoption of accounting standards | 13 | 0 | 0 | 13 | 0 | 0 | 13 | 0 |
Net income | 1,183 | 0 | 0 | 1,146 | 0 | 0 | 1,146 | 37 |
Other comprehensive income/(loss), net of tax | (135) | 0 | 0 | 0 | (135) | 0 | (135) | 0 |
Common stock issued (including share-based compensation impacts) | 20 | 0 | 20 | 0 | 0 | 0 | 20 | 0 |
Treasury stock/other | (12) | 0 | 0 | 0 | 0 | (23) | (23) | 35 |
Dividends and dividend equivalents declared | (601) | 0 | 0 | (601) | 0 | 0 | (601) | |
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 0 | |||||||
Ending balance at Mar. 31, 2019 | $ 36,434 | 41 | 22,026 | 23,226 | (7,501) | (1,394) | 36,398 | 36 |
Increase (Decrease) in Stockholders' Equity | ||||||||
Per share dividend of Common and Class B Stock | $ 0.15 | |||||||
Beginning balance at Dec. 31, 2018 | $ 35,966 | 41 | 22,006 | 22,668 | (7,366) | (1,417) | 35,932 | 34 |
Increase (Decrease) in Stockholders' Equity | ||||||||
Net income | 1,333 | |||||||
Other comprehensive income/(loss), net of tax | (70) | |||||||
Ending balance at Jun. 30, 2019 | 36,136 | 41 | 22,111 | 22,769 | (7,436) | (1,388) | 36,097 | 39 |
Beginning balance at Mar. 31, 2019 | 36,434 | 41 | 22,026 | 23,226 | (7,501) | (1,394) | 36,398 | 36 |
Increase (Decrease) in Stockholders' Equity | ||||||||
Adoption of accounting standards | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Net income | 150 | 0 | 0 | 148 | 0 | 0 | 148 | 2 |
Other comprehensive income/(loss), net of tax | 65 | 0 | 0 | 0 | 65 | 0 | 65 | 0 |
Common stock issued (including share-based compensation impacts) | 85 | 0 | 85 | 0 | 0 | 0 | 85 | 0 |
Treasury stock/other | (7) | 0 | 0 | 0 | 0 | (6) | (6) | (1) |
Dividends and dividend equivalents declared | (605) | 0 | 0 | (605) | 0 | 0 | (605) | |
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 0 | |||||||
Ending balance at Jun. 30, 2019 | $ 36,136 | $ 41 | $ 22,111 | $ 22,769 | $ (7,436) | $ (1,388) | $ 36,097 | $ 39 |
Increase (Decrease) in Stockholders' Equity | ||||||||
Per share dividend of Common and Class B Stock | $ 0.15 |
Presentation
Presentation | 6 Months Ended |
Jun. 30, 2019 | |
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. We also make reference to Ford Motor Credit Company LLC, herein referenced to as Ford Credit. 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, 2018 (“2018 Form 10-K Report”). We reclassified certain prior year amounts in our consolidated financial statements to conform to the current year presentation. Change in Accounting As of January 1, 2019, we changed our accounting method for reporting early termination losses related to customer defaults on Ford Credit’s operating leases. Previously, we presented the early termination loss reserve on operating leases due to customer default events as part of the allowance for credit losses within Net investment in operating leases . We now consider the effects of operating lease early terminations when determining depreciation estimates, which are included as part of accumulated depreciation within Net investment in operating leases . We believe this change in accounting method is preferable as the characterization of these changes is better reflected as depreciation. We have retrospectively applied this change in accounting method to all prior periods. At December 31, 2018 , this reclassification increased accumulated depreciation and decreased allowance for credit losses by $78 million within Net investment in operating leases . This change had no impact on our consolidated income statement, consolidated balance sheet or Net cash provided by/(used in) operating activities in the consolidated statement of cash flows for the interim periods presented. |
New Accounting Standards (Notes
New Accounting Standards (Notes) | 6 Months Ended |
Jun. 30, 2019 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
NEW ACCOUNTING STANDARDS | NEW ACCOUNTING STANDARDS Adoption of New Accounting Standards Accounting Standards Update (“ASU”) 2016-02, Leases . On January 1, 2019, we adopted Accounting Standards Codification 842 and all the related amendments (“new lease standard”) using the modified retrospective method. We recognized the cumulative effect of initially applying the new lease standard as an adjustment to the opening balance of retained earnings. The comparative information has not been restated and continues to be reported under the lease accounting standard in effect for those periods. We do not expect the adoption of the new lease standard to have a material impact to our net income on an ongoing basis. The new lease standard requires all leases to be reported on the balance sheet as right-of-use assets and lease obligations. We elected the practical expedients permitted under the transition guidance of the new standard that retained the lease classification and initial direct costs for any leases that existed prior to adoption of the standard. We did not reassess whether any contracts or land easements entered into prior to adoption are leases or contain leases. The cumulative effect of the changes made to our consolidated balance sheet at January 1, 2019, for the adoption of ASU 2016-02, Leases , was as follows (in millions): Balance at December 31, 2018 Adjustments due to ASU 2016-02 Balance at January 1, 2019 Balance sheet Assets Other assets, current $ 3,930 $ (8 ) $ 3,922 Other assets, non-current 7,929 1,324 9,253 Deferred income taxes 10,412 (4 ) 10,408 Liabilities Other liabilities and deferred revenue, current 20,556 316 20,872 Other liabilities and deferred revenue, non-current 23,588 983 24,571 Equity Retained earnings 22,668 13 22,681 We also adopted the following ASUs effective January 1, 2019, none of which had a material impact to our financial statements or financial statement disclosures: ASU Effective Date 2018-17 Targeted Improvements to Related Party Guidance for Variable Interest Entities January 1, 2019 2018-16 Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes January 1, 2019 2018-13 Fair Value Measurement - Changes to the Disclosure Requirements for Fair Value Measurement January 1, 2019 2018-08 Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made January 1, 2019 2018-07 Stock Compensation - Improvements to Nonemployee Share-Based Payment Accounting January 1, 2019 2018-02 Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (a) January 1, 2019 __________ (a) Ford did not elect to reclassify the income tax effects of the Tax Cuts and Jobs Act from Accumulated other comprehensive income/(loss) to Retained earnings . NOTE 2. NEW ACCOUNTING STANDARDS (Continued) Accounting Standards Issued But Not Yet Adopted The Company considers the applicability and impact of all ASUs. ASUs not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial statements. 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. We plan to adopt the new standard and the related amendments on the effective date of January 1, 2020, by recognizing the cumulative effect of initially applying the new standard as an adjustment to the opening balance of Retained earnings . We anticipate adoption will increase the amount of expected credit losses reported in Ford Credit finance receivables, net on our consolidated balance sheet and do not expect a material impact to our consolidated income statement. |
Revenue (Notes)
Revenue (Notes) | 6 Months Ended |
Jun. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
REVENUE | REVENUE The following table disaggregates our revenue by major source for the periods ended June 30 (in millions): Second Quarter 2018 Automotive Mobility Ford Credit Consolidated Vehicles, parts, and accessories $ 34,569 $ — $ — $ 34,569 Used vehicles 655 — — 655 Extended service contracts 328 — — 328 Other revenue 210 6 58 274 Revenues from sales and services 35,762 6 58 35,826 Leasing income 143 — 1,443 1,586 Financing income — — 1,465 1,465 Insurance income — — 43 43 Total revenues $ 35,905 $ 6 $ 3,009 $ 38,920 Second Quarter 2019 Automotive Mobility Ford Credit Consolidated Vehicles, parts, and accessories $ 34,235 $ — $ — $ 34,235 Used vehicles 842 — — 842 Extended service contracts 348 — — 348 Other revenue 219 6 55 280 Revenues from sales and services 35,644 6 55 35,705 Leasing income 114 — 1,472 1,586 Financing income — — 1,521 1,521 Insurance income — — 41 41 Total revenues $ 35,758 $ 6 $ 3,089 $ 38,853 First Half 2018 Automotive Mobility Ford Credit Consolidated Vehicles, parts, and accessories $ 71,986 $ — $ — $ 71,986 Used vehicles 1,583 — — 1,583 Extended service contracts 657 — — 657 Other revenue 429 10 113 552 Revenues from sales and services 74,655 10 113 74,778 Leasing income 262 — 2,858 3,120 Financing income — — 2,897 2,897 Insurance income — — 84 84 Total revenues $ 74,917 $ 10 $ 5,952 $ 80,879 First Half 2019 Automotive Mobility Ford Credit Consolidated Vehicles, parts, and accessories $ 69,811 $ — $ — $ 69,811 Used vehicles 1,862 — — 1,862 Extended service contracts 681 — — 681 Other revenue 432 12 106 550 Revenues from sales and services 72,786 12 106 72,904 Leasing income 211 — 2,949 3,160 Financing income — — 3,049 3,049 Insurance income — — 82 82 Total revenues $ 72,997 $ 12 $ 6,186 $ 79,195 NOTE 3. REVENUE (Continued) The amount of consideration we receive and revenue we recognize on our vehicles, parts, and accessories varies with changes in marketing incentives and returns we offer to our customers and their customers. As a result of changes in our estimate of marketing incentives, we recorded a decrease related to revenue recognized in prior periods of $220 million and $350 million in the second quarter of 2018 and 2019 , respectively. We sell separately-priced service contracts that extend mechanical and maintenance coverages beyond our base warranty agreements to vehicle owners (“extended service contracts”). At December 31, 2017 and December 31, 2018 , $3.8 billion and $4 billion , respectively, of unearned revenue associated with outstanding contracts was reported in Other liabilities and deferred revenue. We recognized $269 million and $285 million of the unearned amounts as revenue during the second quarter of 2018 and 2019 , respectively, and $567 million and $590 million in the first half of 2018 and 2019 , respectively. At June 30, 2019 , the unearned amount was $4 billion . We expect to recognize approximately $600 million of the unearned amount in the remainder of 2019 , $1.1 billion in 2020 , and $2.3 billion thereafter. Amounts paid to dealers to obtain these contracts are deferred and recorded as Other assets . We had a balance of $247 million and $258 million in deferred costs as of December 31, 2018 and June 30, 2019 , respectively, and recognized $19 million and $20 million of amortization during the second quarter of 2018 and 2019 , respectively, and $37 million and $39 million in the first half of 2018 and 2019 , respectively. |
Other Income_(Loss) (Notes)
Other Income/(Loss) (Notes) | 6 Months Ended |
Jun. 30, 2019 | |
Other Income and Expenses [Abstract] | |
Other Income and Other Expense Disclosure [Text Block] | OTHER INCOME/(LOSS) The amounts included in Other income/(loss), net for the periods ended June 30 were as follows (in millions): Second Quarter First Half 2018 2019 2018 2019 Net periodic pension and other postretirement employee benefits (OPEB) income/(cost), excluding service cost $ 429 $ 111 $ 906 $ 383 Investment-related interest income 167 207 313 410 Interest income/(expense) on income taxes 32 (1 ) 33 (21 ) Realized and unrealized gains/(losses) on cash equivalents, marketable securities, and other investments 217 (187 ) 212 (120 ) Gains/(Losses) on changes in investments in affiliates — (1 ) 58 2 Gains/(Losses) on extinguishment of debt — (53 ) — (53 ) Royalty income 129 108 272 192 Other 30 88 73 107 Total $ 1,004 $ 272 $ 1,867 $ 900 |
Income Taxes (Notes)
Income Taxes (Notes) | 6 Months Ended |
Jun. 30, 2019 | |
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) | 6 Months Ended |
Jun. 30, 2019 | |
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): Second Quarter First Half 2018 2019 2018 2019 Basic and Diluted Income Attributable to Ford Motor Company Basic income $ 1,066 $ 148 $ 2,802 $ 1,294 Diluted income 1,066 148 2,802 1,294 Basic and Diluted Shares Basic shares (average shares outstanding) 3,977 3,984 3,976 3,979 Net dilutive options, unvested restricted stock units, and unvested restricted stock shares 22 29 22 26 Diluted shares 3,999 4,013 3,998 4,005 |
Cash, Cash Equivalents, and Mar
Cash, Cash Equivalents, and Marketable Securities (Notes) | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year | CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES The fair values of cash, cash equivalents, and marketable securities measured at fair value on a recurring basis were as follows (in millions): December 31, 2018 Fair Value Level Automotive Mobility Ford Credit Consolidated Cash and cash equivalents U.S. government 1 $ 220 $ — $ 139 $ 359 U.S. government agencies 2 496 — 25 521 Non-U.S. government and agencies 2 169 — 114 283 Corporate debt 2 174 — 884 1,058 Total marketable securities classified as cash equivalents 1,059 — 1,162 2,221 Cash, time deposits, and money market funds 5,999 53 8,445 14,497 Total cash and cash equivalents $ 7,058 $ 53 $ 9,607 $ 16,718 Marketable securities U.S. government 1 $ 3,014 $ — $ 289 $ 3,303 U.S. government agencies 2 1,953 — 65 2,018 Non-U.S. government and agencies 2 4,674 — 610 5,284 Corporate debt 2 5,614 — 198 5,812 Equities (a) 1 424 — — 424 Other marketable securities 2 246 — 146 392 Total marketable securities $ 15,925 $ — $ 1,308 $ 17,233 Restricted cash $ 16 $ 33 $ 140 $ 189 June 30, 2019 Fair Value Level Automotive Mobility Ford Credit Consolidated Cash and cash equivalents U.S. government 1 $ 1,245 $ — $ 575 $ 1,820 U.S. government agencies 2 881 — 849 1,730 Non-U.S. government and agencies 2 1,199 — 875 2,074 Corporate debt 2 497 — 907 1,404 Total marketable securities classified as cash equivalents 3,822 — 3,206 7,028 Cash, time deposits, and money market funds 5,559 118 9,412 15,089 Total cash and cash equivalents $ 9,381 $ 118 $ 12,618 $ 22,117 Marketable securities U.S. government 1 $ 2,420 $ — $ 338 $ 2,758 U.S. government agencies 2 1,654 — 135 1,789 Non-U.S. government and agencies 2 4,145 — 1,349 5,494 Corporate debt 2 4,962 — 200 5,162 Equities (a) 1 277 — — 277 Other marketable securities 2 226 — 225 451 Total marketable securities $ 13,684 $ — $ 2,247 $ 15,931 Restricted cash $ 41 $ 24 $ 124 $ 189 __________ (a) Net unrealized gains/losses on equities were a $25 million gain and a $147 million loss at December 31, 2018 and June 30, 2019 , respectively. NOTE 7. CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES (Continued) The cash equivalents and marketable securities accounted for as available-for-sale (“AFS”) debt securities were as follows (in millions): December 31, 2018 Fair Value of Securities with Contractual Maturities Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Within 1 Year After 1 Year through 5 Years After 5 Years Automotive U.S. government $ 2,933 $ 5 $ (10 ) $ 2,928 $ 1,714 $ 1,214 $ — U.S. government agencies 1,920 — (18 ) 1,902 797 1,087 18 Non-U.S. government and agencies 3,841 4 (37 ) 3,808 194 3,614 — Corporate debt 4,010 3 (33 ) 3,980 1,148 2,830 2 Other marketable securities 207 — — 207 1 134 72 Total $ 12,911 $ 12 $ (98 ) $ 12,825 $ 3,854 $ 8,879 $ 92 June 30, 2019 Fair Value of Securities with Contractual Maturities Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Within 1 Year After 1 Year through 5 Years After 5 Years Automotive U.S. government $ 2,360 $ 13 $ — $ 2,373 $ 1,423 $ 945 $ 5 U.S. government agencies 1,660 2 (3 ) 1,659 963 687 9 Non-U.S. government and agencies 3,736 19 (3 ) 3,752 882 2,865 5 Corporate debt 4,850 45 (1 ) 4,894 1,699 3,177 18 Other marketable securities 186 2 (1 ) 187 — 105 82 Total $ 12,792 $ 81 $ (8 ) $ 12,865 $ 4,967 $ 7,779 $ 119 Sales proceeds and gross realized gains/losses from the sale of AFS debt securities for the periods ended June 30 were as follows (in millions): Second Quarter First Half 2018 2019 2018 2019 Automotive Sales proceeds $ 1,507 $ 1,858 $ 2,846 $ 3,000 Gross realized gains 1 3 1 5 Gross realized losses 5 5 11 10 NOTE 7. CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES (Continued) The present fair values and gross unrealized losses for cash equivalents and marketable securities accounted for as AFS debt securities that were in an unrealized loss position, aggregated by investment category and the length of time that individual securities have been in a continuous loss position, were as follows (in millions): December 31, 2018 Less than 1 Year 1 Year or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Automotive U.S. government $ 199 $ (1 ) $ 1,637 $ (9 ) $ 1,836 $ (10 ) U.S. government agencies 193 (1 ) 1,596 (17 ) 1,789 (18 ) Non-U.S. government and agencies 341 (1 ) 2,445 (36 ) 2,786 (37 ) Corporate debt 1,816 (16 ) 856 (17 ) 2,672 (33 ) Other marketable securities 125 — — — 125 — Total $ 2,674 $ (19 ) $ 6,534 $ (79 ) $ 9,208 $ (98 ) June 30, 2019 Less than 1 Year 1 Year or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Automotive U.S. government $ 183 $ — $ 249 $ — $ 432 $ — U.S. government agencies 85 — 959 (3 ) 1,044 (3 ) Non-U.S. government and agencies 27 — 1,076 (3 ) 1,103 (3 ) Corporate debt 82 — 379 (1 ) 461 (1 ) Other marketable securities 10 — 20 (1 ) 30 (1 ) Total $ 387 $ — $ 2,683 $ (8 ) $ 3,070 $ (8 ) During the first half of 2018 and 2019 , we did not recognize any other-than-temporary impairment loss. Cash, Cash Equivalents, and Restricted Cash Cash, cash equivalents, and restricted cash as reported in the consolidated statement of cash flows were as follows (in millions): December 31, June 30, Cash and cash equivalents $ 16,718 $ 22,117 Restricted cash (a) 189 189 Total cash, cash equivalents, and restricted cash $ 16,907 $ 22,306 __________ (a) Included in Other assets in the non-current assets section of our consolidated balance sheet. |
Ford Credit Finance Receivables
Ford Credit Finance Receivables (Notes) | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
FINANCIAL SERVICES FINANCE RECEIVABLES | FORD CREDIT FINANCE RECEIVABLES 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): December 31, June 30, Consumer Retail installment contracts, gross $ 70,874 $ 68,737 Finance leases, gross 8,748 8,983 Retail financing, gross 79,622 77,720 Unearned interest supplements (3,508 ) (3,512 ) Consumer finance receivables 76,114 74,208 Non-Consumer Dealer financing 34,372 33,936 Non-Consumer finance receivables 34,372 33,936 Total recorded investment $ 110,486 $ 108,144 Recorded investment in finance receivables $ 110,486 $ 108,144 Allowance for credit losses (589 ) (513 ) Finance receivables, net $ 109,897 $ 107,631 Current portion $ 54,353 $ 53,756 Non-current portion 55,544 53,875 Finance receivables, net $ 109,897 $ 107,631 Net finance receivables subject to fair value (a) $ 101,471 $ 99,010 Fair value (b) 100,877 99,142 __________ (a) Net finance receivables subject to fair value exclude finance leases. Previously, certain consumer financing products in Europe were classified as retail installment contracts. We now classify these products as finance leases. Comparative information has been revised to reflect this change. (b) The fair value of finance receivables is categorized within Level 3 of the fair value hierarchy. Ford Credit’s finance leases are comprised of sales-type and direct financing leases. Ford Credit offers finance leases to individuals, leasing companies, government entities, daily rental companies, and fleet customers. These financings include primarily lease plans for terms of 24 to 60 months. Financing revenue from finance leases for the second quarter of 2018 and 2019 was $95 million and $97 million , respectively, and for the first half of 2018 and 2019 was $190 million and $189 million , respectively. Financing revenue from finance leases is included in Ford Credit revenues on the consolidated income statement. The amounts contractually due on Ford Credit’s finance lease receivables were as follows (in millions): June 30, Within one year $ 2,075 After one year and within two years 2,005 After two years and within three years 1,599 After three years and within four years 708 After four years and within five years 120 After five years 2 Total future cash payments 6,509 Less: Present value discount (313 ) Finance lease receivables $ 6,196 NOTE 8. FORD CREDIT FINANCE RECEIVABLES (Continued) The reconciliation from finance lease receivables to finance leases, gross and finance leases, net is as follows (in millions): June 30, Finance lease receivables $ 6,196 Unguaranteed residual assets 2,661 Initial direct costs 126 Finance leases, gross 8,983 Unearned interest supplements from Ford and affiliated companies (345 ) Allowance for credit losses (17 ) Finance leases, net $ 8,621 At December 31, 2018 and June 30, 2019 , accrued uncollected interest was $264 million and $262 million , respectively, which is reported in Other assets in the current assets section of our consolidated balance sheet. Included in the recorded investment in finance receivables at December 31, 2018 and June 30, 2019 , were consumer receivables of $40.7 billion and $39.3 billion , respectively, and non-consumer receivables of $25.7 billion and $25.1 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. Aging For all finance receivables, Ford Credit defines “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 $20 million at December 31, 2018 . At June 30, 2019 , there were no balances greater than 90 days past due that are still accruing interest. The aging analysis of Ford Credit’s finance receivables balances was as follows (in millions): December 31, June 30, Consumer 31-60 days past due $ 859 $ 662 61-90 days past due 123 103 91-120 days past due 39 31 Greater than 120 days past due 39 39 Total past due 1,060 835 Current 75,054 73,373 Consumer finance receivables 76,114 74,208 Non-Consumer Total past due 76 70 Current 34,296 33,866 Non-Consumer finance receivables 34,372 33,936 Total recorded investment $ 110,486 $ 108,144 NOTE 8. FORD CREDIT FINANCE RECEIVABLES (Continued) Credit Quality Consumer Portfolio. Credit quality ratings for consumer receivables are based on aging. 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; and • 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; and • Group IV – poor financial metrics, including dealers classified as uncollectible. The credit quality analysis of dealer financing receivables was as follows (in millions): December 31, June 30, Dealer Financing Group I $ 27,032 $ 26,333 Group II 5,635 6,020 Group III 1,576 1,468 Group IV 129 115 Total recorded investment $ 34,372 $ 33,936 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 December 31, 2018 and June 30, 2019 was $370 million and $337 million , or 0.5% and 0.5% of consumer receivables, respectively. The recorded investment of non-consumer receivables that were impaired at December 31, 2018 and June 30, 2019 was $129 million and $115 million , or 0.4% and 0.3% of non-consumer receivables, respectively. Impaired finance receivables are evaluated both collectively and specifically. |
Ford Credit Allowance for Credi
Ford Credit Allowance for Credit Losses (Notes) | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
FINANCIAL SERVICES ALLOWANCE FOR CREDIT LOSSES | FORD CREDIT ALLOWANCE FOR CREDIT LOSSES An analysis of the allowance for credit losses related to finance receivables for the periods ended June 30 was as follows (in millions): Second Quarter 2018 First Half 2018 Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 584 $ 16 $ 600 $ 582 $ 15 $ 597 Charge-offs (123 ) (1 ) (124 ) (254 ) (3 ) (257 ) Recoveries 47 1 48 86 2 88 Provision for credit losses 72 (2 ) 70 164 — 164 Other (7 ) — (7 ) (5 ) — (5 ) Ending balance $ 573 $ 14 $ 587 $ 573 $ 14 $ 587 Analysis of ending balance of allowance for credit losses Collective impairment allowance $ 552 $ 13 $ 565 Specific impairment allowance 21 1 22 Ending balance 573 14 587 Analysis of ending balance of finance receivables Collectively evaluated for impairment $ 75,203 $ 32,615 $ 107,818 Specifically evaluated for impairment 378 96 474 Recorded investment 75,581 32,711 108,292 Ending balance, net of allowance for credit losses $ 75,008 $ 32,697 $ 107,705 Second Quarter 2019 First Half 2019 Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 496 $ 17 $ 513 $ 566 $ 23 $ 589 Charge-offs (117 ) — (117 ) (254 ) (17 ) (271 ) Recoveries 45 6 51 88 8 96 Provision for credit losses 70 (7 ) 63 94 2 96 Other 2 1 3 2 1 3 Ending balance $ 496 $ 17 $ 513 $ 496 $ 17 $ 513 Analysis of ending balance of allowance for credit losses Collective impairment allowance $ 477 $ 16 $ 493 Specific impairment allowance 19 1 20 Ending balance 496 17 513 Analysis of ending balance of finance receivables Collectively evaluated for impairment $ 73,871 $ 33,821 $ 107,692 Specifically evaluated for impairment 337 115 452 Recorded investment 74,208 33,936 108,144 Ending balance, net of allowance for credit losses $ 73,712 $ 33,919 $ 107,631 |
Inventories (Notes)
Inventories (Notes) | 6 Months Ended |
Jun. 30, 2019 | |
Inventory Disclosure [Abstract] | |
INVENTORIES | INVENTORIES Inventories were as follows (in millions): December 31, June 30, Raw materials, work-in-process, and supplies $ 4,536 $ 4,619 Finished products 6,684 7,818 Total inventories $ 11,220 $ 12,437 |
Net Investment in Operating Lea
Net Investment in Operating Leases | 6 Months Ended |
Jun. 30, 2019 | |
Net Investment in Leases [Abstract] | |
Lessor, Operating Leases [Text Block] | NET INVESTMENT IN OPERATING LEASES Net investment in operating leases consists primarily of lease contracts for vehicles with individuals, daily rental companies, government entities, and fleet customers. Assets subject to operating leases are depreciated using the straight-line method over the term of the lease to reduce the asset to its estimated residual value. Estimated residual values are based on assumptions for used vehicle prices at lease termination and the number of vehicles that are expected to be returned. The net investment in operating leases was as follows (in millions): December 31, 2018 June 30, Automotive Segment Vehicles, net of depreciation $ 1,705 $ 2,107 Ford Credit Segment Vehicles and other equipment, at cost (a) 33,557 33,583 Accumulated depreciation (6,143 ) (5,892 ) Total Ford Credit Segment 27,414 27,691 Total $ 29,119 $ 29,798 __________ (a) Includes Ford Credit’s operating lease assets of $16.3 billion and $14 billion at December 31, 2018 and June 30, 2019 , respectively, that have been included in securitization transactions. These net investments in operating leases are available only for payment of the debt or other obligations issued or arising in the securitization transactions; they are not available to pay other obligations or the claims of other creditors. Ford Credit Segment Included in Ford Credit revenues are rents on operating leases. The amounts contractually due for minimum rentals on operating leases at December 31, 2018 were as follows (in millions): 2019 2020 2021 2022 2023 Total Minimum rentals on operating leases $ 4,708 $ 2,929 $ 1,083 $ 83 $ 6 $ 8,809 The amounts contractually due on operating leases at June 30, 2019 were as follows (in millions): Within one year After one year and within two years After two years and within three years After three years and within four years After four years and within five years Total Operating lease payments $ 4,746 $ 2,940 $ 1,029 $ 73 $ 5 $ 8,793 |
Other Investments Other Investm
Other Investments Other Investments (Notes) | 6 Months Ended |
Jun. 30, 2019 | |
Other Investments [Abstract] | |
Cost and Equity Method Investments Disclosure [Text Block] | OTHER INVESTMENTS We have investments in entities for which we do not have the ability to exercise significant influence and fair values are not readily available. We record these investments at cost (less impairment, if any), adjusted for observable price changes in orderly transactions for the identical or a similar investment of the same issuer. We report the carrying value of these investments in Other assets in the non-current assets section of our consolidated balance sheet. These investments were $250 million and $727 million at December 31, 2018 and June 30, 2019 , respectively. The increase from December 31, 2018 primarily reflects the $500 million investment in Rivian we made during the second quarter of 2019 . In the first half of 2019 , there were no material adjustments to the fair values of these investments held at June 30, 2019 . |
Goodwill (Notes)
Goodwill (Notes) | 6 Months Ended |
Jun. 30, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill Disclosure [Text Block] | GOODWILL The net carrying amount of goodwill was $264 million and $265 million at December 31, 2018 and June 30, 2019 , respectively, and is reported in Other assets in the non-current section of our consolidated balance sheet. |
Other Liabilities and Deferred
Other Liabilities and Deferred Revenue (Notes) | 6 Months Ended |
Jun. 30, 2019 | |
Other Liabilities [Abstract] | |
OTHER LIABILITIES AND DEFERRED REVENUE | OTHER LIABILITIES AND DEFERRED REVENUE Other liabilities and deferred revenue were as follows (in millions): December 31, June 30, Current Dealer and dealers’ customer allowances and claims $ 11,369 $ 11,989 Deferred revenue 2,095 2,732 Employee benefit plans 1,755 2,097 Accrued interest 988 1,046 OPEB (a) 339 342 Pension (a) 204 203 Operating lease liabilities — 327 Other 3,806 3,767 Total current other liabilities and deferred revenue $ 20,556 $ 22,503 Non-current Pension (a) $ 9,423 $ 9,061 OPEB (a) 5,220 5,224 Dealer and dealers’ customer allowances and claims 2,497 2,163 Deferred revenue 3,985 4,184 Operating lease liabilities — 1,013 Employee benefit plans 1,080 1,125 Other 1,383 1,262 Total non-current other liabilities and deferred revenue $ 23,588 $ 24,032 __________ (a) Balances at June 30, 2019 reflect pension and OPEB liabilities at December 31, 2018 , updated for service and interest cost, expected return on assets, settlement gain and associated interim remeasurement (where applicable), separation expense, actual benefit payments, and cash contributions. For plans without interim remeasurement, the discount rate and rate of expected return assumptions are unchanged from year-end 2018 . Included in Other assets are pension assets of $3.3 billion and $3.6 billion at December 31, 2018 and June 30, 2019 , respectively. |
Retirement Benefits (Notes)
Retirement Benefits (Notes) | 6 Months Ended |
Jun. 30, 2019 | |
Retirement Benefits [Abstract] | |
RETIREMENT BENEFITS | RETIREMENT BENEFITS Defined Benefit Plans - Expense The pre-tax net periodic benefit cost/(income) for our defined benefit pension and OPEB plans for the periods ended June 30 were as follows (in millions): Second Quarter Pension Benefits U.S. Plans Non-U.S. Plans Worldwide OPEB 2018 2019 2018 2019 2018 2019 Service cost $ 136 $ 114 $ 151 $ 127 $ 13 $ 11 Interest cost 366 409 173 173 49 52 Expected return on assets (722 ) (649 ) (329 ) (281 ) — — Amortization of prior service costs/(credits) 35 21 7 9 (28 ) (17 ) Net remeasurement (gain)/loss — (10 ) — — — — Separation programs/other 3 — 16 232 1 — Settlements and curtailments — (50 ) — — — — Net periodic benefit cost/(income) $ (182 ) $ (165 ) $ 18 $ 260 $ 35 $ 46 First Half Pension Benefits U.S. Plans Non-U.S. Plans Worldwide OPEB 2018 2019 2018 2019 2018 2019 Service cost $ 272 $ 228 $ 303 $ 256 $ 27 $ 22 Interest cost 733 818 349 349 98 105 Expected return on assets (1,444 ) (1,298 ) (663 ) (567 ) — — Amortization of prior service costs/(credits) 71 43 13 17 (55 ) (35 ) Net remeasurement (gain)/loss (26 ) (10 ) — — — — Separation programs/other 14 1 18 244 1 — Settlements and curtailments (15 ) (50 ) — — — — Net periodic benefit cost/(income) $ (395 ) $ (268 ) $ 20 $ 299 $ 71 $ 92 The service cost component is included in Cost of sales and Selling, administrative, and other expenses . Other components of net periodic benefit cost/(income) are included in Other income/(loss), net on our consolidated income statement. As part of our ongoing global redesign activities, we recognized additional pension expense of $232 million and $245 million in the second quarter and first half of 2019, respectively, related to separation programs. In addition, in the second quarter , we recognized a settlement, which required a plan remeasurement at current discount rates, asset returns, and economic conditions. This resulted in a remeasurement gain of $10 million and a settlement gain of $50 million . Until our global redesign actions are completed, we anticipate further adjustments to our plans in subsequent periods. Pension Plan Contributions During 2019 , we expect to contribute about $650 million (most of which are mandatory contributions) from cash and cash equivalents to our worldwide funded pension plans and to make about $350 million of benefit payments to participants in unfunded plans, for a total of about $1 billion . In the first half of 2019 , we contributed about $400 million (including $140 million in discretionary contributions in the United States) to our worldwide funded pension plans and made about $150 million of benefit payments to participants in unfunded plans. |
Lease Commitments
Lease Commitments | 6 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
Leases of Lessee Disclosure [Text Block] | LEASE COMMITMENTS We lease land, dealership facilities, offices, distribution centers, warehouses, and equipment under agreements with contractual periods ranging from less than one year to 40 years. Many of our leases contain one or more options to extend. In certain dealership lease agreements, we are the tenant and we sublease the site to a dealer. In the event the sublease is terminated, we have the option to terminate the head lease. We include options that we are reasonably certain to exercise in our evaluation of the lease term after considering all relevant economic and financial factors. Leases that are economically similar to the purchase of an asset are classified as finance leases. The leased (“right-of-use”) assets in finance lease arrangements are reported in Net property on our consolidated balance sheet. Otherwise, the leases are classified as operating leases and reported in Other assets in the non-current assets section of our consolidated balance sheet. For the majority of our leases commencing after January 1, 2019, we do not separate the non-lease components (e.g., maintenance and operating services) from the lease components to which they relate. Instead, non-lease components are included in the measurement of the lease liabilities. However, we do separate lease and non-lease components for contracts containing a significant service component (e.g., energy performance contracts). We calculate the initial lease liability as the present value of fixed payments not yet paid and variable payments that are based on a market rate or an index (e.g., CPI), measured at commencement. The majority of our leases are discounted using our incremental borrowing rate because the rate implicit in the lease is not readily determinable. All other variable payments are expensed as incurred. Lease right-of-use assets and liabilities at June 30 were as follows (in millions): June 30, Operating leases Other assets, non-current $ 1,299 Other liabilities and deferred revenue, current $ 327 Other liabilities and deferred revenue, non-current 1,013 Total operating lease liabilities $ 1,340 Finance leases Property and equipment, gross $ 234 Accumulated depreciation (39 ) Property and equipment, net $ 195 Automotive debt payable within one year $ 89 Automotive long-term debt 72 Total finance lease liabilities $ 161 Minimum non-cancellable operating lease commitments at December 31, 2018 were as follows (in millions): Operating Leases 2019 $ 363 2020 271 2021 193 2022 141 2023 106 Thereafter 437 Total $ 1,511 NOTE 16. LEASE COMMITMENTS (Continued) The amounts contractually due on our lease liabilities as of June 30, 2019 were as follows (in millions): Operating Leases Finance Leases (a) Within one year $ 367 $ 94 After one year and within two years 275 27 After two years and within three years 196 20 After three years and within four years 146 15 After four years and within five years 115 9 After five years 421 6 Total 1,520 171 Less: Present value discount 180 10 Total lease liabilities $ 1,340 $ 161 __________ (a) Excludes approximately $400 million in future lease payments for a 20 -year finance lease commencing in a future period. Supplemental cash flow information related to leases for the period ended June 30 was as follows (in millions): First Half Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 215 Operating cash flows from finance leases 3 Financing cash flows from finance leases 17 Right-of-use assets obtained in exchange for lease liabilities Operating leases $ 142 Finance leases 20 The components of lease expense for the period ended June 30 were as follows (in millions): Second Quarter First Half Operating lease expense $ 110 $ 220 Variable lease expense 12 31 Sublease income (4 ) (8 ) Finance lease expense Amortization of right-of-use assets 4 7 Interest on lease liabilities 2 3 Total lease expense $ 124 $ 253 The weighted average remaining lease term and weighted average discount rate at June 30 were as follows: June 30, Weighted average remaining lease term (years) Operating leases 6.8 Finance leases 3.0 Weighted average discount rate Operating leases 3.5 % Finance leases 3.5 % |
Debt (Notes)
Debt (Notes) | 6 Months Ended |
Jun. 30, 2019 | |
Debt Disclosure [Abstract] | |
DEBT | DEBT The carrying value of Automotive, Ford Credit, and Other debt was as follows (in millions): Automotive December 31, June 30, Debt payable within one year Short-term $ 614 $ 1,143 Long-term payable within one year U.S. Department of Energy Advanced Technology Vehicles Manufacturing (“DOE ATVM”) Incentive Program 591 591 Other debt 1,125 495 Unamortized (discount)/premium (16 ) — Total debt payable within one year 2,314 2,229 Long-term debt payable after one year Public unsecured debt securities (a) 9,033 9,783 DOE ATVM Incentive Program 1,470 1,175 Delayed draw term loan (b) — 500 Other debt 1,026 568 Adjustments Unamortized (discount)/premium (224 ) (167 ) Unamortized issuance costs (72 ) (94 ) Total long-term debt payable after one year 11,233 11,765 Total Automotive $ 13,547 $ 13,994 Fair value of Automotive debt (c) $ 13,319 $ 14,694 Ford Credit Debt payable within one year Short-term $ 14,705 $ 14,301 Long-term payable within one year Unsecured debt 14,373 13,387 Asset-backed debt 22,130 22,836 Adjustments Unamortized (discount)/premium 2 1 Unamortized issuance costs (16 ) (18 ) Fair value adjustments (d) (15 ) (15 ) Total debt payable within one year 51,179 50,492 Long-term debt payable after one year Unsecured debt 52,409 57,379 Asset-backed debt 36,844 33,248 Adjustments Unamortized (discount)/premium — (1 ) Unamortized issuance costs (195 ) (206 ) Fair value adjustments (d) (171 ) 558 Total long-term debt payable after one year 88,887 90,978 Total Ford Credit $ 140,066 $ 141,470 Fair value of Ford Credit debt (c) $ 138,809 $ 142,775 Other Long-term debt payable within one year $ — $ 130 Long-term debt payable after one year Unsecured debt 604 474 Adjustments Unamortized (discount)/premium (3 ) (3 ) Unamortized issuance costs (1 ) (1 ) Total long-term debt payable after one year 600 470 Total Other $ 600 $ 600 Fair value of Other debt $ 697 $ 737 __________ (a) Public unsecured debt securities increased by $750 million reflecting our unsecured debt (retail bond) issuance in the second quarter of 2019. (b) We drew $500 million under our delayed draw term loan facility in the second quarter of 2019. (c) The fair value of debt includes $458 million and $840 million of Automotive segment short-term debt and $13.8 billion and $13.3 billion of Ford Credit segment short-term debt at December 31, 2018 and June 30, 2019 , respectively, carried at cost, which approximates fair value. All other debt is categorized within Level 2 of the fair value hierarchy. (d) These adjustments relate to designated fair value hedges. The carrying value of hedged debt was $38 billion and $39.4 billion at December 31, 2018 and June 30, 2019 , respectively. |
Derivative Financial Instrument
Derivative Financial Instruments and Hedging Activities (Notes) | 6 Months Ended |
Jun. 30, 2019 | |
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, reported in income for the periods ended June 30 were as follows (in millions): Second Quarter First Half Cash flow hedges (a) 2018 2019 2018 2019 Reclassified from AOCI to Cost of sales Foreign currency exchange contracts $ (12 ) $ 44 $ 5 $ 98 Commodity contracts — (6 ) — (11 ) Fair value hedges Interest rate contracts Net interest settlements and accruals on hedging instruments (2 ) (12 ) 24 (32 ) Fair value changes on hedging instruments (90 ) 474 (429 ) 724 Fair value changes on hedged debt 82 (463 ) 411 (716 ) Derivatives not designated as hedging instruments Foreign currency exchange contracts (b) 416 5 300 (23 ) Cross-currency interest rate swap contracts (125 ) 141 (183 ) (4 ) Interest rate contracts (20 ) (3 ) (37 ) (30 ) Commodity contracts 8 (12 ) (38 ) (1 ) Total $ 257 $ 168 $ 53 $ 5 __________ (a) For the second quarter and first half of 2018 , a $60 million gain and a $121 million gain , respectively, were reported in Other comprehensive income/(loss), net of tax related to foreign currency contracts. For the second quarter and first half of 2019 , a $205 million gain and a $316 million loss , respectively, were reported in Other comprehensive income/(loss), net of tax related to foreign currency contracts. For the second quarter and first half of 2019 , a $37 million loss and $26 million loss , respectively, were reported in Other comprehensive income/(loss), net of tax related to commodity contracts. (b) For the second quarter and first half of 2018 , a $306 million gain and a $202 million gain were reported in Cost of sales and a $110 million gain and a $98 million gain were reported in Other income/(loss), net, respectively. For the second quarter and first half of 2019 , a $35 million loss and a $57 million loss were reported in Cost of sales and a $40 million gain and $34 million gain were reported in Other income/(loss), net, respectively. NOTE 18. DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Continued) Balance Sheet Effect of Derivative Financial Instruments Derivative assets and liabilities are reported on our consolidated 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. Collateral represents cash received or paid under reciprocal arrangements that we have entered into with our derivative counterparties which we do not use to offset our derivative assets and liabilities. The fair value of our derivative instruments and the associated notional amounts, presented gross, were as follows (in millions): December 31, 2018 June 30, 2019 Notional Fair Value of Assets Fair Value of Liabilities Notional Fair Value of Assets Fair Value of Liabilities Cash flow hedges Foreign currency exchange contracts $ 15,972 $ 391 $ 110 $ 13,376 $ 101 $ 151 Commodity contracts 327 — 20 583 — 36 Fair value hedges Interest rate contracts 22,989 158 208 25,308 687 13 Derivatives not designated as hedging instruments Foreign currency exchange contracts 20,695 202 99 23,117 124 189 Cross-currency interest rate swap contracts 5,235 232 157 7,879 228 163 Interest rate contracts 76,904 235 274 63,877 255 270 Commodity contracts 638 3 45 386 1 16 Total derivative financial instruments, gross (a) (b) $ 142,760 $ 1,221 $ 913 $ 134,526 $ 1,396 $ 838 Current portion $ 681 $ 601 $ 290 $ 617 Non-current portion 540 312 1,106 221 Total derivative financial instruments, gross $ 1,221 $ 913 $ 1,396 $ 838 __________ (a) At December 31, 2018 and June 30, 2019 , we held collateral of $19 million and $24 million , and we posted collateral of $59 million and $85 million , respectively. (b) At December 31, 2018 and June 30, 2019 , the fair value of assets and liabilities available for counterparty netting was $434 million and $387 million , respectively . |
Employee Separation Actions and
Employee Separation Actions and Exit and Disposal Activities (Notes) | 6 Months Ended |
Jun. 30, 2019 | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Activities Disclosure [Text Block] | EMPLOYEE SEPARATION ACTIONS AND EXIT AND DISPOSAL ACTIVITIES We record costs associated with voluntary separations at the time of employee acceptance, unless the acceptance requires explicit approval by the Company. We record costs associated with involuntary separation programs when management has approved the plan for separation, the affected employees are identified, and it is unlikely that actions required to complete the separation plan will change significantly. Costs associated with benefits that are contingent on the employee continuing to provide service are accrued over the required service period. Automotive Segment As announced, we are executing a global redesign of our business. Redesign-related activities, including employee separation costs, payments to dealers and suppliers, and other charges, are recorded in Cost of sales and Selling, administrative, and other expenses . Below are actions we have initiated as part of the redesign. Brazil. On February 15, 2019, Ford Motor Company Brasil Ltda. (“Ford Brazil”), our subsidiary in Brazil, committed to a plan to exit the commercial heavy truck business in South America. As a result, Ford Brazil will cease production at the São Bernardo do Campo plant in Brazil during 2019. Russia. On March 27, 2019, Ford Sollers Netherlands B.V. (“Ford Sollers”), a joint venture between Ford and Sollers PJSC (“Sollers”) in which Ford had control, announced its plan to restructure its business in Russia to focus exclusively on commercial vehicles and to exit the passenger car segment. As a result of these actions, Ford acquired a 100% ownership of Ford Sollers and ceased production at the Naberezhnye Chelny and St. Petersburg vehicle assembly plants and the Elabuga engine plant during the second quarter of 2019. Subsequent to the completion of the restructuring actions, in July 2019, Ford sold a 51% controlling interest in the restructured entity to Sollers. United Kingdom. On June 5, 2019, Ford Motor Company Limited (“Ford of Britain”), a subsidiary of Ford, announced its plan to exit the Ford Bridgend plant in South Wales in 2020. Other Global Redesign Actions. In 2018, we announced our plan to end production at the Ford Aquitaine Industries plant in Bordeaux, France, and in March 2019, we announced our plan to phase-out the production of the C-Max at the Saarlouis Body and Assembly Plant in Germany. Furthermore, we are reducing our global workforce and taking other restructuring actions. The following table summarizes the redesign-related activities, which are recorded in Other liabilities and deferred revenue (in millions): Second Quarter First Half Beginning balance $ 414 $ 291 Changes in accruals (a) 741 1,008 Payments (222 ) (358 ) Foreign currency translation (4 ) (12 ) Ending balance $ 929 $ 929 __________ (a) Excludes pension costs of $182 million and $195 million in the second quarter and first half of 2019 , respectively. We also recorded $291 million and $542 million in second quarter and first half of 2019 , respectively, for accelerated depreciation and other non-cash charges. We estimate that we will incur total charges in 2019 that range between $3 billion and $3.5 billion |
Redeemable Noncontrolling Inter
Redeemable Noncontrolling Interest (Notes) | 6 Months Ended |
Jun. 30, 2019 | |
Noncontrolling Interest [Abstract] | |
Noncontrolling Interest Disclosure [Text Block] | REDEEMABLE NONCONTROLLING INTEREST We formed the Ford Sollers joint venture with Sollers in October 2011 to operate in Russia. The value of the redeemable noncontrolling interest, reflecting redemption features embedded in the 50% equity interest in the joint venture held by Sollers, reported in the mezzanine section of our consolidated balance sheet at December 31, 2018 was $100 million . The redeemable noncontrolling interest became exercisable beginning on January 1, 2019, and Sollers exercised its option in March 2019 for a value of $135 million . The $35 million increase in value from December 2018 was reported in Income/(Loss) attributable to noncontrolling interests on our consolidated income statement during the first quarter of 2019. We purchased the noncontrolling interest from Sollers in the second quarter of 2019 and derecognized the redeemable noncontrolling interest balance. See Note 19 for more information concerning the restructuring of our business in Russia. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income/(Loss) (Notes) | 6 Months Ended |
Jun. 30, 2019 | |
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 June 30 were as follows (in millions): Second Quarter First Half 2018 2019 2018 2019 Foreign currency translation Beginning balance $ (3,981 ) $ (4,557 ) $ (4,277 ) $ (4,800 ) Gains/(Losses) on foreign currency translation (527 ) (139 ) (283 ) 132 Less: Tax/(Tax benefit) 69 (12 ) 19 16 Net gains/(losses) on foreign currency translation (596 ) (127 ) (302 ) 116 (Gains)/Losses reclassified from AOCI to net income (a) — — 2 — Other comprehensive income/(loss), net of tax (596 ) (127 ) (300 ) 116 Ending balance $ (4,577 ) $ (4,684 ) $ (4,577 ) $ (4,684 ) Marketable securities Beginning balance $ (95 ) $ 4 $ (48 ) $ (59 ) Gains/(Losses) on available for sale securities (15 ) 74 (84 ) 154 Less: Tax/(Tax benefit) (4 ) 17 (21 ) 36 Net gains/(losses) on available for sale securities (11 ) 57 (63 ) 118 (Gains)/Losses reclassified from AOCI to net income 4 2 10 5 Less: Tax/(Tax benefit) 1 — 2 1 Net (gains)/losses reclassified from AOCI to net income 3 2 8 4 Other comprehensive income/(loss), net of tax (8 ) 59 (55 ) 122 Ending balance $ (103 ) $ 63 $ (103 ) $ 63 Derivative instruments Beginning balance $ 51 $ (245 ) $ 18 $ 201 Gains/(Losses) on derivative instruments 60 168 121 (342 ) Less: Tax/(Tax benefit) 14 24 29 (78 ) Net gains/(losses) on derivative instruments 46 144 92 (264 ) (Gains)/Losses reclassified from AOCI to net income 12 (38 ) (5 ) (87 ) Less: Tax/(Tax benefit) 6 (11 ) 2 (22 ) Net (gains)/losses reclassified from AOCI to net income (b) 6 (27 ) (7 ) (65 ) Other comprehensive income/(loss), net of tax 52 117 85 (329 ) Ending balance $ 103 $ (128 ) $ 103 $ (128 ) Pension and other postretirement benefits Beginning balance $ (2,644 ) $ (2,703 ) $ (2,652 ) $ (2,708 ) Amortization and recognition of prior service costs/(credits) 14 13 29 25 Less: Tax/(Tax benefit) 3 3 6 5 Net prior service costs/(credits) reclassified from AOCI to net income 11 10 23 20 Translation impact on non-U.S. plans 6 6 2 1 Other comprehensive income/(loss), net of tax 17 16 25 21 Ending balance $ (2,627 ) $ (2,687 ) $ (2,627 ) $ (2,687 ) Total AOCI ending balance at June 30 $ (7,204 ) $ (7,436 ) $ (7,204 ) $ (7,436 ) __________ (a) Reclassified to Other income/(loss), net. (b) Reclassified to Cost of sales . During the next twelve months we expect to reclassify existing net losses on cash flow hedges of $82 million . See Note 18 for additional information. |
Commitments and Contingencies (
Commitments and Contingencies (Notes) | 6 Months Ended |
Jun. 30, 2019 | |
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 The maximum potential payments and the carrying value of recorded liabilities related to guarantees and limited indemnities were as follows (in millions): December 31, June 30, Maximum potential payments $ 1,163 $ 1,043 Carrying value of recorded liabilities related to guarantees and limited indemnities 351 324 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 a guarantee or indemnity, the amount of probable payment is recorded. We guarantee the resale value of vehicles sold in certain arrangements to daily rental companies. The maximum potential payment of $897 million as of June 30, 2019 , included in the table above, represents the total proceeds we guarantee the rental company will receive on re-sale. Reflecting our present estimate of proceeds the rental companies will receive on resale from third parties, we have recorded $297 million as our best estimate of the amount we will have to pay under the guarantee. We also 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. 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. NOTE 22. COMMITMENTS AND CONTINGENCIES (Continued) 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. 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 $700 million . In addition, we have a reasonably possible risk of loss for an emission matter. At this stage, we cannot estimate the risk of loss or predict the outcome, and cannot provide reasonable assurance that it will not have a material adverse effect on us. 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 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 estimated supplier recoveries, for the periods ended June 30 was as follows (in millions): First Half 2018 2019 Beginning balance $ 5,296 $ 5,137 Payments made during the period (1,911 ) (2,192 ) Changes in accrual related to warranties issued during the period 1,252 1,424 Changes in accrual related to pre-existing warranties 337 715 Foreign currency translation and other (96 ) 23 Ending balance $ 4,878 $ 5,107 Revisions to our estimated costs are reported as changes in accrual related to pre-existing warranties in the table above. |
Segment Information (Notes)
Segment Information (Notes) | 6 Months Ended |
Jun. 30, 2019 | |
Segment Reporting [Abstract] | |
SEGMENT INFORMATION | SEGMENT INFORMATION Below is a description of our reportable segments and other activities. Automotive Segment Our Automotive segment primarily includes the sale of Ford and Lincoln vehicles, service parts, and accessories worldwide, together with the associated costs to develop, manufacture, distribute, and service the vehicles, parts, and accessories. This segment includes revenues and costs related to our electrification vehicle programs. The segment includes the following regional business units: North America, South America, Europe, China, Asia Pacific Operations, and Middle East & Africa. Mobility Segment Our Mobility segment primarily includes development costs related to our autonomous vehicles and our investment in mobility through Ford Smart Mobility LLC (“FSM”). Autonomous vehicles includes self-driving systems development and vehicle integration, autonomous vehicle research and advanced engineering, autonomous vehicle transportation-as-a-service network development, user experience, and business strategy and business development teams. FSM designs and builds mobility products and subscription services on its own, and collaborates with service providers and technology companies. In 2019, we began recording in the Mobility segment subscription related income previously reported in the Automotive segment. This income is generated from services managed in our Mobility segment. Ford Credit Segment The Ford Credit segment is comprised of the Ford Credit business on a consolidated basis, which is primarily vehicle-related financing and leasing activities. Corporate Other Corporate Other primarily includes corporate governance expenses, interest income (excluding interest earned on our extended service contract portfolio that is included in our Automotive segment) and portfolio gains and losses from our cash, cash equivalents, and marketable securities, and foreign exchange derivatives gains and losses associated with intercompany lending. Corporate governance expenses are primarily administrative, delivering benefit on behalf of the global enterprise, and are not allocated to specific Automotive business units or operating segments. These include expenses related to setting and directing global policy, providing oversight and stewardship, and promoting the Company’s interests. The underlying assets and liabilities associated with these activities remain with the respective Automotive and Mobility segments. Interest on Debt Interest on Debt is presented as a separate reconciling item and consists of interest expense on Automotive and Other debt. The underlying liability is reported in the Automotive segment and in Corporate Other. Special Items Special Items are presented as a separate reconciling item. They consist of (i) pension and OPEB remeasurement gains and losses, (ii) significant personnel expenses, dealer-related costs, and facility-related charges stemming from our efforts to match production capacity and cost structure to market demand and changing model mix, and (iii) other items that we do not necessarily consider to be indicative of earnings from 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. We also report these special items separately to help investors track amounts related to these activities and to allow investors analyzing our results to identify certain infrequent significant items that they may wish to exclude when considering the trend of ongoing operating results. NOTE 23. SEGMENT INFORMATION (Continued) Key financial information for the periods ended or at June 30 was as follows (in millions): Automotive Mobility Ford Credit Corporate Other Interest on Debt Special Items Adjustments Total Second Quarter 2018 Revenues $ 35,905 $ 6 $ 3,009 $ — $ — $ — $ — $ 38,920 Income/(loss) before income taxes 1,157 (181 ) 645 71 (301 ) (42 ) — 1,349 Equity in net income/(loss) of affiliated companies 54 — 6 — — — — 60 Cash, cash equivalents, marketable securities, and restricted cash 25,108 50 11,511 — — — — 36,669 Total assets 103,306 470 158,604 — — — (4,301 ) (a) 258,079 Second Quarter 2019 Revenues $ 35,758 $ 6 $ 3,089 $ — $ — $ — $ — $ 38,853 Income/(loss) before income taxes 1,373 (264 ) 831 (286 ) (244 ) (1,205 ) — 205 Equity in net income/(loss) of affiliated companies 72 7 8 — — — — 87 Cash, cash equivalents, marketable securities, and restricted cash 23,106 142 14,989 — — — — 38,237 Total assets 102,641 1,153 163,141 — — — (4,751 ) (a) 262,184 Automotive Mobility Ford Credit Corporate Other Interest on Debt Special Items Adjustments Total First Half 2018 Revenues $ 74,917 $ 10 $ 5,952 $ — $ — $ — $ — $ 80,879 Income/(loss) before income taxes 2,889 (283 ) 1,286 (15 ) (590 ) (19 ) — 3,268 Equity in net income/(loss) of affiliated companies 272 — 12 — — — — 284 First Half 2019 Revenues $ 72,997 $ 12 $ 6,186 $ — $ — $ — $ — $ 79,195 Income/(loss) before income taxes 3,382 (552 ) 1,632 (361 ) (489 ) (1,797 ) — 1,815 Equity in net income/(loss) of affiliated companies 89 9 14 — — — — 112 __________ (a) Includes eliminations of intersegment transactions occurring in the ordinary course of business and deferred tax netting. |
Presentation - Reclassification
Presentation - Reclassification Policy (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Reclassification, Policy [Policy Text Block] | As of January 1, 2019, we changed our accounting method for reporting early termination losses related to customer defaults on Ford Credit’s operating leases. Previously, we presented the early termination loss reserve on operating leases due to customer default events as part of the allowance for credit losses within Net investment in operating leases . We now consider the effects of operating lease early terminations when determining depreciation estimates, which are included as part of accumulated depreciation within Net investment in operating leases . We believe this change in accounting method is preferable as the characterization of these changes is better reflected as depreciation. We have retrospectively applied this change in accounting method to all prior periods. At December 31, 2018 , this reclassification increased accumulated depreciation and decreased allowance for credit losses by $78 million within Net investment in operating leases . This change had no impact on our consolidated income statement, consolidated balance sheet or Net cash provided by/(used in) operating activities in the consolidated statement of cash flows for the interim periods presented. |
Summary of Accounting Policies
Summary of Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Consolidation, Policy [Policy Text Block] | |
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. |
Reclassifications, Policy [Policy Text Block] | We reclassified certain prior year amounts in our consolidated financial statements to conform to the current year presentation. |
Income Tax Disclosure [Abstract] | |
Income Tax, Policy [Policy Text Block] | |
Receivables [Abstract] | |
Finance Loans and Leases Receivable, Policy [Policy Text Block] | For all finance receivables, Ford Credit defines “past due” as any payment, including principal and interest, that is at least 31 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 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives, Policy [Policy Text Block] | 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. Derivative assets and liabilities are reported on our consolidated 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. Collateral represents cash received or paid under reciprocal arrangements that we have entered into with our derivative counterparties which we do not use to offset our derivative assets and liabilities. |
Commitments and Contingencies Disclosure [Abstract] | |
Guarantees, Indemnifications and Warranties Policies [Policy Text Block] | 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 a guarantee or indemnity, the amount of probable payment is recorded. We guarantee the resale value of vehicles sold in certain arrangements to daily rental companies. The maximum potential payment of $897 million as of June 30, 2019 , included in the table above, represents the total proceeds we guarantee the rental company will receive on re-sale. Reflecting our present estimate of proceeds the rental companies will receive on resale from third parties, we have recorded $297 million as our best estimate of the amount we will have to pay under the guarantee. We also 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. 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 recovery is virtually certain. Recoveries are reported in Trade and other receivables and Other assets. |
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. NOTE 22. COMMITMENTS AND CONTINGENCIES (Continued) 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. 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. 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. |
Segment Reporting | |
Segment Reporting, Policy [Policy Text Block] | Below is a description of our reportable segments and other activities. Automotive Segment Our Automotive segment primarily includes the sale of Ford and Lincoln vehicles, service parts, and accessories worldwide, together with the associated costs to develop, manufacture, distribute, and service the vehicles, parts, and accessories. This segment includes revenues and costs related to our electrification vehicle programs. The segment includes the following regional business units: North America, South America, Europe, China, Asia Pacific Operations, and Middle East & Africa. Mobility Segment Our Mobility segment primarily includes development costs related to our autonomous vehicles and our investment in mobility through Ford Smart Mobility LLC (“FSM”). Autonomous vehicles includes self-driving systems development and vehicle integration, autonomous vehicle research and advanced engineering, autonomous vehicle transportation-as-a-service network development, user experience, and business strategy and business development teams. FSM designs and builds mobility products and subscription services on its own, and collaborates with service providers and technology companies. In 2019, we began recording in the Mobility segment subscription related income previously reported in the Automotive segment. This income is generated from services managed in our Mobility segment. Ford Credit Segment The Ford Credit segment is comprised of the Ford Credit business on a consolidated basis, which is primarily vehicle-related financing and leasing activities. Corporate Other Corporate Other primarily includes corporate governance expenses, interest income (excluding interest earned on our extended service contract portfolio that is included in our Automotive segment) and portfolio gains and losses from our cash, cash equivalents, and marketable securities, and foreign exchange derivatives gains and losses associated with intercompany lending. Corporate governance expenses are primarily administrative, delivering benefit on behalf of the global enterprise, and are not allocated to specific Automotive business units or operating segments. These include expenses related to setting and directing global policy, providing oversight and stewardship, and promoting the Company’s interests. The underlying assets and liabilities associated with these activities remain with the respective Automotive and Mobility segments. Interest on Debt Interest on Debt is presented as a separate reconciling item and consists of interest expense on Automotive and Other debt. The underlying liability is reported in the Automotive segment and in Corporate Other. Special Items Special Items are presented as a separate reconciling item. They consist of (i) pension and OPEB remeasurement gains and losses, (ii) significant personnel expenses, dealer-related costs, and facility-related charges stemming from our efforts to match production capacity and cost structure to market demand and changing model mix, and (iii) other items that we do not necessarily consider to be indicative of earnings from 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. We also report these special items separately to help investors track amounts related to these activities and to allow investors analyzing our results to identify certain infrequent significant items that they may wish to exclude when considering the trend of ongoing operating results. |
Revenue Revenue (Policies)
Revenue Revenue (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition, Policy [Policy Text Block] | The amount of consideration we receive and revenue we recognize on our vehicles, parts, and accessories varies with changes in marketing incentives and returns we offer to our customers and their customers. As a result of changes in our estimate of marketing incentives, we recorded a decrease related to revenue recognized in prior periods of $220 million and $350 million in the second quarter of 2018 and 2019 , respectively. We sell separately-priced service contracts that extend mechanical and maintenance coverages beyond our base warranty agreements to vehicle owners (“extended service contracts”). At December 31, 2017 and December 31, 2018 , $3.8 billion and $4 billion , respectively, of unearned revenue associated with outstanding contracts was reported in Other liabilities and deferred revenue. We recognized $269 million and $285 million of the unearned amounts as revenue during the second quarter of 2018 and 2019 , respectively, and $567 million and $590 million in the first half of 2018 and 2019 , respectively. At June 30, 2019 , the unearned amount was $4 billion . We expect to recognize approximately $600 million of the unearned amount in the remainder of 2019 , $1.1 billion in 2020 , and $2.3 billion thereafter. Amounts paid to dealers to obtain these contracts are deferred and recorded as Other assets . We had a balance of $247 million and $258 million in deferred costs as of December 31, 2018 and June 30, 2019 , respectively, and recognized $19 million and $20 million of amortization during the second quarter of 2018 and 2019 , respectively, and $37 million and $39 million in the first half of 2018 and 2019 , respectively. |
Ford Credit Finance Receivabl_2
Ford Credit Finance Receivables Ford Credit Leases (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
Ford Credit Leases [Abstract] | |
Lessor, Leases [Policy Text Block] | Ford Credit’s finance leases are comprised of sales-type and direct financing leases. Ford Credit offers finance leases to individuals, leasing companies, government entities, daily rental companies, and fleet customers. These financings include primarily lease plans for terms of 24 to 60 Net investment in operating leases |
Other Investments Other Inves_2
Other Investments Other Investments - (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity and Cost Method Investments, Policy [Policy Text Block] | We have investments in entities for which we do not have the ability to exercise significant influence and fair values are not readily available. We record these investments at cost (less impairment, if any), adjusted for observable price changes in orderly transactions for the identical or a similar investment of the same issuer. We report the carrying value of these investments in Other assets |
New Accounting Standards New Ac
New Accounting Standards New Accounting Pronouncements or Change in Accounting Principle (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | The cumulative effect of the changes made to our consolidated balance sheet at January 1, 2019, for the adoption of ASU 2016-02, Leases , was as follows (in millions): Balance at December 31, 2018 Adjustments due to ASU 2016-02 Balance at January 1, 2019 Balance sheet Assets Other assets, current $ 3,930 $ (8 ) $ 3,922 Other assets, non-current 7,929 1,324 9,253 Deferred income taxes 10,412 (4 ) 10,408 Liabilities Other liabilities and deferred revenue, current 20,556 316 20,872 Other liabilities and deferred revenue, non-current 23,588 983 24,571 Equity Retained earnings 22,668 13 22,681 |
Revenue (Tables)
Revenue (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation Of Revenue | The following table disaggregates our revenue by major source for the periods ended June 30 (in millions): Second Quarter 2018 Automotive Mobility Ford Credit Consolidated Vehicles, parts, and accessories $ 34,569 $ — $ — $ 34,569 Used vehicles 655 — — 655 Extended service contracts 328 — — 328 Other revenue 210 6 58 274 Revenues from sales and services 35,762 6 58 35,826 Leasing income 143 — 1,443 1,586 Financing income — — 1,465 1,465 Insurance income — — 43 43 Total revenues $ 35,905 $ 6 $ 3,009 $ 38,920 Second Quarter 2019 Automotive Mobility Ford Credit Consolidated Vehicles, parts, and accessories $ 34,235 $ — $ — $ 34,235 Used vehicles 842 — — 842 Extended service contracts 348 — — 348 Other revenue 219 6 55 280 Revenues from sales and services 35,644 6 55 35,705 Leasing income 114 — 1,472 1,586 Financing income — — 1,521 1,521 Insurance income — — 41 41 Total revenues $ 35,758 $ 6 $ 3,089 $ 38,853 First Half 2018 Automotive Mobility Ford Credit Consolidated Vehicles, parts, and accessories $ 71,986 $ — $ — $ 71,986 Used vehicles 1,583 — — 1,583 Extended service contracts 657 — — 657 Other revenue 429 10 113 552 Revenues from sales and services 74,655 10 113 74,778 Leasing income 262 — 2,858 3,120 Financing income — — 2,897 2,897 Insurance income — — 84 84 Total revenues $ 74,917 $ 10 $ 5,952 $ 80,879 First Half 2019 Automotive Mobility Ford Credit Consolidated Vehicles, parts, and accessories $ 69,811 $ — $ — $ 69,811 Used vehicles 1,862 — — 1,862 Extended service contracts 681 — — 681 Other revenue 432 12 106 550 Revenues from sales and services 72,786 12 106 72,904 Leasing income 211 — 2,949 3,160 Financing income — — 3,049 3,049 Insurance income — — 82 82 Total revenues $ 72,997 $ 12 $ 6,186 $ 79,195 |
Other Income_(Loss) (Tables)
Other Income/(Loss) (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Other Income and Expenses [Abstract] | |
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | The amounts included in Other income/(loss), net for the periods ended June 30 were as follows (in millions): Second Quarter First Half 2018 2019 2018 2019 Net periodic pension and other postretirement employee benefits (OPEB) income/(cost), excluding service cost $ 429 $ 111 $ 906 $ 383 Investment-related interest income 167 207 313 410 Interest income/(expense) on income taxes 32 (1 ) 33 (21 ) Realized and unrealized gains/(losses) on cash equivalents, marketable securities, and other investments 217 (187 ) 212 (120 ) Gains/(Losses) on changes in investments in affiliates — (1 ) 58 2 Gains/(Losses) on extinguishment of debt — (53 ) — (53 ) Royalty income 129 108 272 192 Other 30 88 73 107 Total $ 1,004 $ 272 $ 1,867 $ 900 |
Capital Stock and Earnings Pe_2
Capital Stock and Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
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): Second Quarter First Half 2018 2019 2018 2019 Basic and Diluted Income Attributable to Ford Motor Company Basic income $ 1,066 $ 148 $ 2,802 $ 1,294 Diluted income 1,066 148 2,802 1,294 Basic and Diluted Shares Basic shares (average shares outstanding) 3,977 3,984 3,976 3,979 Net dilutive options, unvested restricted stock units, and unvested restricted stock shares 22 29 22 26 Diluted shares 3,999 4,013 3,998 4,005 |
Cash, Cash Equivalents, and M_2
Cash, Cash Equivalents, and Marketable Securities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | The fair values of cash, cash equivalents, and marketable securities measured at fair value on a recurring basis were as follows (in millions): December 31, 2018 Fair Value Level Automotive Mobility Ford Credit Consolidated Cash and cash equivalents U.S. government 1 $ 220 $ — $ 139 $ 359 U.S. government agencies 2 496 — 25 521 Non-U.S. government and agencies 2 169 — 114 283 Corporate debt 2 174 — 884 1,058 Total marketable securities classified as cash equivalents 1,059 — 1,162 2,221 Cash, time deposits, and money market funds 5,999 53 8,445 14,497 Total cash and cash equivalents $ 7,058 $ 53 $ 9,607 $ 16,718 Marketable securities U.S. government 1 $ 3,014 $ — $ 289 $ 3,303 U.S. government agencies 2 1,953 — 65 2,018 Non-U.S. government and agencies 2 4,674 — 610 5,284 Corporate debt 2 5,614 — 198 5,812 Equities (a) 1 424 — — 424 Other marketable securities 2 246 — 146 392 Total marketable securities $ 15,925 $ — $ 1,308 $ 17,233 Restricted cash $ 16 $ 33 $ 140 $ 189 June 30, 2019 Fair Value Level Automotive Mobility Ford Credit Consolidated Cash and cash equivalents U.S. government 1 $ 1,245 $ — $ 575 $ 1,820 U.S. government agencies 2 881 — 849 1,730 Non-U.S. government and agencies 2 1,199 — 875 2,074 Corporate debt 2 497 — 907 1,404 Total marketable securities classified as cash equivalents 3,822 — 3,206 7,028 Cash, time deposits, and money market funds 5,559 118 9,412 15,089 Total cash and cash equivalents $ 9,381 $ 118 $ 12,618 $ 22,117 Marketable securities U.S. government 1 $ 2,420 $ — $ 338 $ 2,758 U.S. government agencies 2 1,654 — 135 1,789 Non-U.S. government and agencies 2 4,145 — 1,349 5,494 Corporate debt 2 4,962 — 200 5,162 Equities (a) 1 277 — — 277 Other marketable securities 2 226 — 225 451 Total marketable securities $ 13,684 $ — $ 2,247 $ 15,931 Restricted cash $ 41 $ 24 $ 124 $ 189 __________ (a) Net unrealized gains/losses on equities were a $25 million gain and a $147 million loss at December 31, 2018 and June 30, 2019 , respectively. |
Available-for-sale Securities [Table Text Block] | The cash equivalents and marketable securities accounted for as available-for-sale (“AFS”) debt securities were as follows (in millions): December 31, 2018 Fair Value of Securities with Contractual Maturities Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Within 1 Year After 1 Year through 5 Years After 5 Years Automotive U.S. government $ 2,933 $ 5 $ (10 ) $ 2,928 $ 1,714 $ 1,214 $ — U.S. government agencies 1,920 — (18 ) 1,902 797 1,087 18 Non-U.S. government and agencies 3,841 4 (37 ) 3,808 194 3,614 — Corporate debt 4,010 3 (33 ) 3,980 1,148 2,830 2 Other marketable securities 207 — — 207 1 134 72 Total $ 12,911 $ 12 $ (98 ) $ 12,825 $ 3,854 $ 8,879 $ 92 June 30, 2019 Fair Value of Securities with Contractual Maturities Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Within 1 Year After 1 Year through 5 Years After 5 Years Automotive U.S. government $ 2,360 $ 13 $ — $ 2,373 $ 1,423 $ 945 $ 5 U.S. government agencies 1,660 2 (3 ) 1,659 963 687 9 Non-U.S. government and agencies 3,736 19 (3 ) 3,752 882 2,865 5 Corporate debt 4,850 45 (1 ) 4,894 1,699 3,177 18 Other marketable securities 186 2 (1 ) 187 — 105 82 Total $ 12,792 $ 81 $ (8 ) $ 12,865 $ 4,967 $ 7,779 $ 119 Sales proceeds and gross realized gains/losses from the sale of AFS debt securities for the periods ended June 30 were as follows (in millions): Second Quarter First Half 2018 2019 2018 2019 Automotive Sales proceeds $ 1,507 $ 1,858 $ 2,846 $ 3,000 Gross realized gains 1 3 1 5 Gross realized losses 5 5 11 10 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | The present fair values and gross unrealized losses for cash equivalents and marketable securities accounted for as AFS debt securities that were in an unrealized loss position, aggregated by investment category and the length of time that individual securities have been in a continuous loss position, were as follows (in millions): December 31, 2018 Less than 1 Year 1 Year or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Automotive U.S. government $ 199 $ (1 ) $ 1,637 $ (9 ) $ 1,836 $ (10 ) U.S. government agencies 193 (1 ) 1,596 (17 ) 1,789 (18 ) Non-U.S. government and agencies 341 (1 ) 2,445 (36 ) 2,786 (37 ) Corporate debt 1,816 (16 ) 856 (17 ) 2,672 (33 ) Other marketable securities 125 — — — 125 — Total $ 2,674 $ (19 ) $ 6,534 $ (79 ) $ 9,208 $ (98 ) June 30, 2019 Less than 1 Year 1 Year or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Automotive U.S. government $ 183 $ — $ 249 $ — $ 432 $ — U.S. government agencies 85 — 959 (3 ) 1,044 (3 ) Non-U.S. government and agencies 27 — 1,076 (3 ) 1,103 (3 ) Corporate debt 82 — 379 (1 ) 461 (1 ) Other marketable securities 10 — 20 (1 ) 30 (1 ) Total $ 387 $ — $ 2,683 $ (8 ) $ 3,070 $ (8 ) |
Schedule Cash, Cash Equivalents, and Restricted Cash [Table Text Block] | Cash, cash equivalents, and restricted cash as reported in the consolidated statement of cash flows were as follows (in millions): December 31, June 30, Cash and cash equivalents $ 16,718 $ 22,117 Restricted cash (a) 189 189 Total cash, cash equivalents, and restricted cash $ 16,907 $ 22,306 __________ (a) Included in Other assets in the non-current assets section of our consolidated balance sheet. |
Ford Credit Finance Receivabl_3
Ford Credit Finance Receivables (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Net finance receivables [Table Text Block] | Finance receivables, net were as follows (in millions): December 31, June 30, Consumer Retail installment contracts, gross $ 70,874 $ 68,737 Finance leases, gross 8,748 8,983 Retail financing, gross 79,622 77,720 Unearned interest supplements (3,508 ) (3,512 ) Consumer finance receivables 76,114 74,208 Non-Consumer Dealer financing 34,372 33,936 Non-Consumer finance receivables 34,372 33,936 Total recorded investment $ 110,486 $ 108,144 Recorded investment in finance receivables $ 110,486 $ 108,144 Allowance for credit losses (589 ) (513 ) Finance receivables, net $ 109,897 $ 107,631 Current portion $ 54,353 $ 53,756 Non-current portion 55,544 53,875 Finance receivables, net $ 109,897 $ 107,631 Net finance receivables subject to fair value (a) $ 101,471 $ 99,010 Fair value (b) 100,877 99,142 __________ (a) Net finance receivables subject to fair value exclude finance leases. Previously, certain consumer financing products in Europe were classified as retail installment contracts. We now classify these products as finance leases. Comparative information has been revised to reflect this change. (b) The fair value of finance receivables is categorized within Level 3 of the fair value hierarchy. |
Sales-type and Direct Financing Leases, Lease Receivable, Maturity [Table Text Block] | The amounts contractually due on Ford Credit’s finance lease receivables were as follows (in millions): June 30, Within one year $ 2,075 After one year and within two years 2,005 After two years and within three years 1,599 After three years and within four years 708 After four years and within five years 120 After five years 2 Total future cash payments 6,509 Less: Present value discount (313 ) Finance lease receivables $ 6,196 |
Sales-type and direct finance leases [Table Text Block] | The reconciliation from finance lease receivables to finance leases, gross and finance leases, net is as follows (in millions): June 30, Finance lease receivables $ 6,196 Unguaranteed residual assets 2,661 Initial direct costs 126 Finance leases, gross 8,983 Unearned interest supplements from Ford and affiliated companies (345 ) Allowance for credit losses (17 ) Finance leases, net $ 8,621 |
Aging analysis for total finance receivables [Text Block] | The aging analysis of Ford Credit’s finance receivables balances was as follows (in millions): December 31, June 30, Consumer 31-60 days past due $ 859 $ 662 61-90 days past due 123 103 91-120 days past due 39 31 Greater than 120 days past due 39 39 Total past due 1,060 835 Current 75,054 73,373 Consumer finance receivables 76,114 74,208 Non-Consumer Total past due 76 70 Current 34,296 33,866 Non-Consumer finance receivables 34,372 33,936 Total recorded investment $ 110,486 $ 108,144 |
Financing receivable credit quality indicators [Table Text Block] | The credit quality analysis of dealer financing receivables was as follows (in millions): December 31, June 30, Dealer Financing Group I $ 27,032 $ 26,333 Group II 5,635 6,020 Group III 1,576 1,468 Group IV 129 115 Total recorded investment $ 34,372 $ 33,936 |
Ford Credit Allowance for Cre_2
Ford Credit Allowance for Credit Losses (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
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 June 30 was as follows (in millions): Second Quarter 2018 First Half 2018 Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 584 $ 16 $ 600 $ 582 $ 15 $ 597 Charge-offs (123 ) (1 ) (124 ) (254 ) (3 ) (257 ) Recoveries 47 1 48 86 2 88 Provision for credit losses 72 (2 ) 70 164 — 164 Other (7 ) — (7 ) (5 ) — (5 ) Ending balance $ 573 $ 14 $ 587 $ 573 $ 14 $ 587 Analysis of ending balance of allowance for credit losses Collective impairment allowance $ 552 $ 13 $ 565 Specific impairment allowance 21 1 22 Ending balance 573 14 587 Analysis of ending balance of finance receivables Collectively evaluated for impairment $ 75,203 $ 32,615 $ 107,818 Specifically evaluated for impairment 378 96 474 Recorded investment 75,581 32,711 108,292 Ending balance, net of allowance for credit losses $ 75,008 $ 32,697 $ 107,705 Second Quarter 2019 First Half 2019 Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 496 $ 17 $ 513 $ 566 $ 23 $ 589 Charge-offs (117 ) — (117 ) (254 ) (17 ) (271 ) Recoveries 45 6 51 88 8 96 Provision for credit losses 70 (7 ) 63 94 2 96 Other 2 1 3 2 1 3 Ending balance $ 496 $ 17 $ 513 $ 496 $ 17 $ 513 Analysis of ending balance of allowance for credit losses Collective impairment allowance $ 477 $ 16 $ 493 Specific impairment allowance 19 1 20 Ending balance 496 17 513 Analysis of ending balance of finance receivables Collectively evaluated for impairment $ 73,871 $ 33,821 $ 107,692 Specifically evaluated for impairment 337 115 452 Recorded investment 74,208 33,936 108,144 Ending balance, net of allowance for credit losses $ 73,712 $ 33,919 $ 107,631 |
Inventories (Tables)
Inventories (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory [Table Text Block] | Inventories were as follows (in millions): December 31, June 30, Raw materials, work-in-process, and supplies $ 4,536 $ 4,619 Finished products 6,684 7,818 Total inventories $ 11,220 $ 12,437 |
Net Investment in Operating L_2
Net Investment in Operating Leases Net Investment in Operating Leases (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Net Investment in Leases [Abstract] | |
Schedule of Property Subject to or Available for Operating Lease [Table Text Block] | The net investment in operating leases was as follows (in millions): December 31, 2018 June 30, Automotive Segment Vehicles, net of depreciation $ 1,705 $ 2,107 Ford Credit Segment Vehicles and other equipment, at cost (a) 33,557 33,583 Accumulated depreciation (6,143 ) (5,892 ) Total Ford Credit Segment 27,414 27,691 Total $ 29,119 $ 29,798 __________ (a) Includes Ford Credit’s operating lease assets of $16.3 billion and $14 billion at December 31, 2018 and June 30, 2019 , respectively, that have been included in securitization transactions. These net investments in operating leases are available only for payment of the debt or other obligations issued or arising in the securitization transactions; they are not available to pay other obligations or the claims of other creditors. |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | The amounts contractually due for minimum rentals on operating leases at December 31, 2018 were as follows (in millions): 2019 2020 2021 2022 2023 Total Minimum rentals on operating leases $ 4,708 $ 2,929 $ 1,083 $ 83 $ 6 $ 8,809 |
Lessor, Operating Lease, Payments to be Received, Maturity [Table Text Block] | The amounts contractually due on operating leases at June 30, 2019 were as follows (in millions): Within one year After one year and within two years After two years and within three years After three years and within four years After four years and within five years Total Operating lease payments $ 4,746 $ 2,940 $ 1,029 $ 73 $ 5 $ 8,793 |
Other Liabilities and Deferre_2
Other Liabilities and Deferred Revenue (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Other Liabilities [Abstract] | |
Schedule of Accrued Liabilities and Deferred Revenue [Table Text Block] | Other liabilities and deferred revenue were as follows (in millions): December 31, June 30, Current Dealer and dealers’ customer allowances and claims $ 11,369 $ 11,989 Deferred revenue 2,095 2,732 Employee benefit plans 1,755 2,097 Accrued interest 988 1,046 OPEB (a) 339 342 Pension (a) 204 203 Operating lease liabilities — 327 Other 3,806 3,767 Total current other liabilities and deferred revenue $ 20,556 $ 22,503 Non-current Pension (a) $ 9,423 $ 9,061 OPEB (a) 5,220 5,224 Dealer and dealers’ customer allowances and claims 2,497 2,163 Deferred revenue 3,985 4,184 Operating lease liabilities — 1,013 Employee benefit plans 1,080 1,125 Other 1,383 1,262 Total non-current other liabilities and deferred revenue $ 23,588 $ 24,032 __________ (a) Balances at June 30, 2019 reflect pension and OPEB liabilities at December 31, 2018 , updated for service and interest cost, expected return on assets, settlement gain and associated interim remeasurement (where applicable), separation expense, actual benefit payments, and cash contributions. For plans without interim remeasurement, the discount rate and rate of expected return assumptions are unchanged from year-end 2018 . Included in Other assets are pension assets of $3.3 billion and $3.6 billion at December 31, 2018 and June 30, 2019 , respectively. |
Retirement Benefits (Tables)
Retirement Benefits (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Retirement Benefits [Abstract] | |
Defined Benefit Plans - Expense | The pre-tax net periodic benefit cost/(income) for our defined benefit pension and OPEB plans for the periods ended June 30 were as follows (in millions): Second Quarter Pension Benefits U.S. Plans Non-U.S. Plans Worldwide OPEB 2018 2019 2018 2019 2018 2019 Service cost $ 136 $ 114 $ 151 $ 127 $ 13 $ 11 Interest cost 366 409 173 173 49 52 Expected return on assets (722 ) (649 ) (329 ) (281 ) — — Amortization of prior service costs/(credits) 35 21 7 9 (28 ) (17 ) Net remeasurement (gain)/loss — (10 ) — — — — Separation programs/other 3 — 16 232 1 — Settlements and curtailments — (50 ) — — — — Net periodic benefit cost/(income) $ (182 ) $ (165 ) $ 18 $ 260 $ 35 $ 46 First Half Pension Benefits U.S. Plans Non-U.S. Plans Worldwide OPEB 2018 2019 2018 2019 2018 2019 Service cost $ 272 $ 228 $ 303 $ 256 $ 27 $ 22 Interest cost 733 818 349 349 98 105 Expected return on assets (1,444 ) (1,298 ) (663 ) (567 ) — — Amortization of prior service costs/(credits) 71 43 13 17 (55 ) (35 ) Net remeasurement (gain)/loss (26 ) (10 ) — — — — Separation programs/other 14 1 18 244 1 — Settlements and curtailments (15 ) (50 ) — — — — Net periodic benefit cost/(income) $ (395 ) $ (268 ) $ 20 $ 299 $ 71 $ 92 |
Lease Commitments Lease Commitm
Lease Commitments Lease Commitments (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
Lease right-of-use Assets and Liabilities [Table Text Block] | Lease right-of-use assets and liabilities at June 30 were as follows (in millions): June 30, Operating leases Other assets, non-current $ 1,299 Other liabilities and deferred revenue, current $ 327 Other liabilities and deferred revenue, non-current 1,013 Total operating lease liabilities $ 1,340 Finance leases Property and equipment, gross $ 234 Accumulated depreciation (39 ) Property and equipment, net $ 195 Automotive debt payable within one year $ 89 Automotive long-term debt 72 Total finance lease liabilities $ 161 |
Lessee, Operating Lease, Disclosure [Table Text Block] | Minimum non-cancellable operating lease commitments at December 31, 2018 were as follows (in millions): Operating Leases 2019 $ 363 2020 271 2021 193 2022 141 2023 106 Thereafter 437 Total $ 1,511 |
Schedule of Future Minimum Rental Payments for Leases [Table Text Block] | The amounts contractually due on our lease liabilities as of June 30, 2019 were as follows (in millions): Operating Leases Finance Leases (a) Within one year $ 367 $ 94 After one year and within two years 275 27 After two years and within three years 196 20 After three years and within four years 146 15 After four years and within five years 115 9 After five years 421 6 Total 1,520 171 Less: Present value discount 180 10 Total lease liabilities $ 1,340 $ 161 __________ (a) Excludes approximately $400 million in future lease payments for a 20 -year finance lease commencing in a future period. |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | Supplemental cash flow information related to leases for the period ended June 30 was as follows (in millions): First Half Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 215 Operating cash flows from finance leases 3 Financing cash flows from finance leases 17 Right-of-use assets obtained in exchange for lease liabilities Operating leases $ 142 Finance leases 20 |
Lease, Cost [Table Text Block] | The components of lease expense for the period ended June 30 were as follows (in millions): Second Quarter First Half Operating lease expense $ 110 $ 220 Variable lease expense 12 31 Sublease income (4 ) (8 ) Finance lease expense Amortization of right-of-use assets 4 7 Interest on lease liabilities 2 3 Total lease expense $ 124 $ 253 |
Lease Commitments, Weighted Average Term and Rate [Table Text Block] | The weighted average remaining lease term and weighted average discount rate at June 30 were as follows: June 30, Weighted average remaining lease term (years) Operating leases 6.8 Finance leases 3.0 Weighted average discount rate Operating leases 3.5 % Finance leases 3.5 % |
Debt (Tables)
Debt (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of debt outstanding [Table Text Block] | The carrying value of Automotive, Ford Credit, and Other debt was as follows (in millions): Automotive December 31, June 30, Debt payable within one year Short-term $ 614 $ 1,143 Long-term payable within one year U.S. Department of Energy Advanced Technology Vehicles Manufacturing (“DOE ATVM”) Incentive Program 591 591 Other debt 1,125 495 Unamortized (discount)/premium (16 ) — Total debt payable within one year 2,314 2,229 Long-term debt payable after one year Public unsecured debt securities (a) 9,033 9,783 DOE ATVM Incentive Program 1,470 1,175 Delayed draw term loan (b) — 500 Other debt 1,026 568 Adjustments Unamortized (discount)/premium (224 ) (167 ) Unamortized issuance costs (72 ) (94 ) Total long-term debt payable after one year 11,233 11,765 Total Automotive $ 13,547 $ 13,994 Fair value of Automotive debt (c) $ 13,319 $ 14,694 Ford Credit Debt payable within one year Short-term $ 14,705 $ 14,301 Long-term payable within one year Unsecured debt 14,373 13,387 Asset-backed debt 22,130 22,836 Adjustments Unamortized (discount)/premium 2 1 Unamortized issuance costs (16 ) (18 ) Fair value adjustments (d) (15 ) (15 ) Total debt payable within one year 51,179 50,492 Long-term debt payable after one year Unsecured debt 52,409 57,379 Asset-backed debt 36,844 33,248 Adjustments Unamortized (discount)/premium — (1 ) Unamortized issuance costs (195 ) (206 ) Fair value adjustments (d) (171 ) 558 Total long-term debt payable after one year 88,887 90,978 Total Ford Credit $ 140,066 $ 141,470 Fair value of Ford Credit debt (c) $ 138,809 $ 142,775 Other Long-term debt payable within one year $ — $ 130 Long-term debt payable after one year Unsecured debt 604 474 Adjustments Unamortized (discount)/premium (3 ) (3 ) Unamortized issuance costs (1 ) (1 ) Total long-term debt payable after one year 600 470 Total Other $ 600 $ 600 Fair value of Other debt $ 697 $ 737 __________ (a) Public unsecured debt securities increased by $750 million reflecting our unsecured debt (retail bond) issuance in the second quarter of 2019. (b) We drew $500 million under our delayed draw term loan facility in the second quarter of 2019. (c) The fair value of debt includes $458 million and $840 million of Automotive segment short-term debt and $13.8 billion and $13.3 billion of Ford Credit segment short-term debt at December 31, 2018 and June 30, 2019 , respectively, carried at cost, which approximates fair value. All other debt is categorized within Level 2 of the fair value hierarchy. (d) These adjustments relate to designated fair value hedges. The carrying value of hedged debt was $38 billion and $39.4 billion at December 31, 2018 and June 30, 2019 , respectively. |
Derivative Financial Instrume_2
Derivative Financial Instruments and Hedging Activities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Income Effect of Derivative Instruments [Table Text Block] | The gains/(losses), by hedge designation, reported in income for the periods ended June 30 were as follows (in millions): Second Quarter First Half Cash flow hedges (a) 2018 2019 2018 2019 Reclassified from AOCI to Cost of sales Foreign currency exchange contracts $ (12 ) $ 44 $ 5 $ 98 Commodity contracts — (6 ) — (11 ) Fair value hedges Interest rate contracts Net interest settlements and accruals on hedging instruments (2 ) (12 ) 24 (32 ) Fair value changes on hedging instruments (90 ) 474 (429 ) 724 Fair value changes on hedged debt 82 (463 ) 411 (716 ) Derivatives not designated as hedging instruments Foreign currency exchange contracts (b) 416 5 300 (23 ) Cross-currency interest rate swap contracts (125 ) 141 (183 ) (4 ) Interest rate contracts (20 ) (3 ) (37 ) (30 ) Commodity contracts 8 (12 ) (38 ) (1 ) Total $ 257 $ 168 $ 53 $ 5 __________ (a) For the second quarter and first half of 2018 , a $60 million gain and a $121 million gain , respectively, were reported in Other comprehensive income/(loss), net of tax related to foreign currency contracts. For the second quarter and first half of 2019 , a $205 million gain and a $316 million loss , respectively, were reported in Other comprehensive income/(loss), net of tax related to foreign currency contracts. For the second quarter and first half of 2019 , a $37 million loss and $26 million loss , respectively, were reported in Other comprehensive income/(loss), net of tax related to commodity contracts. (b) For the second quarter and first half of 2018 , a $306 million gain and a $202 million gain were reported in Cost of sales and a $110 million gain and a $98 million gain were reported in Other income/(loss), net, respectively. For the second quarter and first half of 2019 , a $35 million loss and a $57 million loss were reported in Cost of sales and a $40 million gain and $34 million gain were reported in Other income/(loss), net, 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): December 31, 2018 June 30, 2019 Notional Fair Value of Assets Fair Value of Liabilities Notional Fair Value of Assets Fair Value of Liabilities Cash flow hedges Foreign currency exchange contracts $ 15,972 $ 391 $ 110 $ 13,376 $ 101 $ 151 Commodity contracts 327 — 20 583 — 36 Fair value hedges Interest rate contracts 22,989 158 208 25,308 687 13 Derivatives not designated as hedging instruments Foreign currency exchange contracts 20,695 202 99 23,117 124 189 Cross-currency interest rate swap contracts 5,235 232 157 7,879 228 163 Interest rate contracts 76,904 235 274 63,877 255 270 Commodity contracts 638 3 45 386 1 16 Total derivative financial instruments, gross (a) (b) $ 142,760 $ 1,221 $ 913 $ 134,526 $ 1,396 $ 838 Current portion $ 681 $ 601 $ 290 $ 617 Non-current portion 540 312 1,106 221 Total derivative financial instruments, gross $ 1,221 $ 913 $ 1,396 $ 838 __________ (a) At December 31, 2018 and June 30, 2019 , we held collateral of $19 million and $24 million , and we posted collateral of $59 million and $85 million , respectively. (b) At December 31, 2018 and June 30, 2019 , the fair value of assets and liabilities available for counterparty netting was $434 million and $387 million , respectively . All derivatives are categorized within Level 2 of the fair value hierarchy. |
Employee Separation Actions a_2
Employee Separation Actions and Exit and Disposal Activities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Restructuring Cost and Reserve [Line Items] | |
Schedule of Restructuring Reserve by Type of Cost | The following table summarizes the redesign-related activities, which are recorded in Other liabilities and deferred revenue (in millions): Second Quarter First Half Beginning balance $ 414 $ 291 Changes in accruals (a) 741 1,008 Payments (222 ) (358 ) Foreign currency translation (4 ) (12 ) Ending balance $ 929 $ 929 __________ (a) Excludes pension costs of $182 million and $195 million in the second quarter and first half of 2019 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income/(Loss) (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
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 June 30 were as follows (in millions): Second Quarter First Half 2018 2019 2018 2019 Foreign currency translation Beginning balance $ (3,981 ) $ (4,557 ) $ (4,277 ) $ (4,800 ) Gains/(Losses) on foreign currency translation (527 ) (139 ) (283 ) 132 Less: Tax/(Tax benefit) 69 (12 ) 19 16 Net gains/(losses) on foreign currency translation (596 ) (127 ) (302 ) 116 (Gains)/Losses reclassified from AOCI to net income (a) — — 2 — Other comprehensive income/(loss), net of tax (596 ) (127 ) (300 ) 116 Ending balance $ (4,577 ) $ (4,684 ) $ (4,577 ) $ (4,684 ) Marketable securities Beginning balance $ (95 ) $ 4 $ (48 ) $ (59 ) Gains/(Losses) on available for sale securities (15 ) 74 (84 ) 154 Less: Tax/(Tax benefit) (4 ) 17 (21 ) 36 Net gains/(losses) on available for sale securities (11 ) 57 (63 ) 118 (Gains)/Losses reclassified from AOCI to net income 4 2 10 5 Less: Tax/(Tax benefit) 1 — 2 1 Net (gains)/losses reclassified from AOCI to net income 3 2 8 4 Other comprehensive income/(loss), net of tax (8 ) 59 (55 ) 122 Ending balance $ (103 ) $ 63 $ (103 ) $ 63 Derivative instruments Beginning balance $ 51 $ (245 ) $ 18 $ 201 Gains/(Losses) on derivative instruments 60 168 121 (342 ) Less: Tax/(Tax benefit) 14 24 29 (78 ) Net gains/(losses) on derivative instruments 46 144 92 (264 ) (Gains)/Losses reclassified from AOCI to net income 12 (38 ) (5 ) (87 ) Less: Tax/(Tax benefit) 6 (11 ) 2 (22 ) Net (gains)/losses reclassified from AOCI to net income (b) 6 (27 ) (7 ) (65 ) Other comprehensive income/(loss), net of tax 52 117 85 (329 ) Ending balance $ 103 $ (128 ) $ 103 $ (128 ) Pension and other postretirement benefits Beginning balance $ (2,644 ) $ (2,703 ) $ (2,652 ) $ (2,708 ) Amortization and recognition of prior service costs/(credits) 14 13 29 25 Less: Tax/(Tax benefit) 3 3 6 5 Net prior service costs/(credits) reclassified from AOCI to net income 11 10 23 20 Translation impact on non-U.S. plans 6 6 2 1 Other comprehensive income/(loss), net of tax 17 16 25 21 Ending balance $ (2,627 ) $ (2,687 ) $ (2,627 ) $ (2,687 ) Total AOCI ending balance at June 30 $ (7,204 ) $ (7,436 ) $ (7,204 ) $ (7,436 ) __________ (a) Reclassified to Other income/(loss), net. (b) Reclassified to Cost of sales . During the next twelve months we expect to reclassify existing net losses on cash flow hedges of $82 million . See Note 18 for additional information. |
Commitments and Contingencies_2
Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
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): December 31, June 30, Maximum potential payments $ 1,163 $ 1,043 Carrying value of recorded liabilities related to guarantees and limited indemnities 351 324 |
Warranty [Table Text Block] | The estimate of our future warranty and field service action costs, net of estimated supplier recoveries, for the periods ended June 30 was as follows (in millions): First Half 2018 2019 Beginning balance $ 5,296 $ 5,137 Payments made during the period (1,911 ) (2,192 ) Changes in accrual related to warranties issued during the period 1,252 1,424 Changes in accrual related to pre-existing warranties 337 715 Foreign currency translation and other (96 ) 23 Ending balance $ 4,878 $ 5,107 |
Segment Information (Tables)
Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Key financial information for the periods ended or at June 30 was as follows (in millions): Automotive Mobility Ford Credit Corporate Other Interest on Debt Special Items Adjustments Total Second Quarter 2018 Revenues $ 35,905 $ 6 $ 3,009 $ — $ — $ — $ — $ 38,920 Income/(loss) before income taxes 1,157 (181 ) 645 71 (301 ) (42 ) — 1,349 Equity in net income/(loss) of affiliated companies 54 — 6 — — — — 60 Cash, cash equivalents, marketable securities, and restricted cash 25,108 50 11,511 — — — — 36,669 Total assets 103,306 470 158,604 — — — (4,301 ) (a) 258,079 Second Quarter 2019 Revenues $ 35,758 $ 6 $ 3,089 $ — $ — $ — $ — $ 38,853 Income/(loss) before income taxes 1,373 (264 ) 831 (286 ) (244 ) (1,205 ) — 205 Equity in net income/(loss) of affiliated companies 72 7 8 — — — — 87 Cash, cash equivalents, marketable securities, and restricted cash 23,106 142 14,989 — — — — 38,237 Total assets 102,641 1,153 163,141 — — — (4,751 ) (a) 262,184 Automotive Mobility Ford Credit Corporate Other Interest on Debt Special Items Adjustments Total First Half 2018 Revenues $ 74,917 $ 10 $ 5,952 $ — $ — $ — $ — $ 80,879 Income/(loss) before income taxes 2,889 (283 ) 1,286 (15 ) (590 ) (19 ) — 3,268 Equity in net income/(loss) of affiliated companies 272 — 12 — — — — 284 First Half 2019 Revenues $ 72,997 $ 12 $ 6,186 $ — $ — $ — $ — $ 79,195 Income/(loss) before income taxes 3,382 (552 ) 1,632 (361 ) (489 ) (1,797 ) — 1,815 Equity in net income/(loss) of affiliated companies 89 9 14 — — — — 112 __________ (a) Includes eliminations of intersegment transactions occurring in the ordinary course of business and deferred tax netting. |
Presentation Change in Accounti
Presentation Change in Accounting Method (Details) - Ford Credit - USD ($) $ in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses | $ 513 | $ 513 | $ 589 | $ 587 | $ 600 | $ 597 |
Adjustments for New Accounting Pronouncement [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses | (78) | |||||
Property Subject to or Available for Operating Lease, Accumulated Depreciation | $ 78 |
New Accounting Standards Cumula
New Accounting Standards Cumulative Effect of Changes due to Adoption (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Other assets, current | $ 3,169 | $ 3,922 | $ 3,930 |
Other assets, non-current | 10,789 | 9,253 | 7,929 |
Deferred Tax Liabilities, Net | 10,408 | ||
Other Liabilities and Deferred Revenue, Current | 20,872 | ||
Other Liabilities and Deferred Revenue, Noncurrent | 24,571 | ||
Retained Earnings (Accumulated Deficit) | $ 22,769 | 22,681 | 22,668 |
Previously Reported [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Other assets, current | 3,930 | ||
Other assets, non-current | 7,929 | ||
Deferred Tax Liabilities, Net | 10,412 | ||
Other Liabilities and Deferred Revenue, Current | 20,556 | ||
Other Liabilities and Deferred Revenue, Noncurrent | 23,588 | ||
Retained Earnings (Accumulated Deficit) | $ 22,668 | ||
Accounting Standards Update 2016-02 [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Other assets, current | (8) | ||
Other assets, non-current | 1,324 | ||
Deferred Tax Liabilities, Net | (4) | ||
Other Liabilities and Deferred Revenue, Current | 316 | ||
Other Liabilities and Deferred Revenue, Noncurrent | 983 | ||
Retained Earnings (Accumulated Deficit) | $ 13 |
Revenue - Disaggregation of Rev
Revenue - Disaggregation of Revenue from Contract with Customer by Products and Services (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Disaggregation of Revenue [Line Items] | ||||
Total revenues | $ 38,853 | $ 38,920 | $ 79,195 | $ 80,879 |
Vehicles, parts, and accessories | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 34,235 | 34,569 | 69,811 | 71,986 |
Used vehicles | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 842 | 655 | 1,862 | 1,583 |
Extended service contracts | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 348 | 328 | 681 | 657 |
Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 280 | 274 | 550 | 552 |
Revenues from sales and services | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 35,705 | 35,826 | 72,904 | 74,778 |
Leasing income | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 1,586 | 1,586 | 3,160 | 3,120 |
Financing income | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 1,521 | 1,465 | 3,049 | 2,897 |
Insurance income | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 41 | 43 | 82 | 84 |
Operating Segments | Automotive | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 35,758 | 35,905 | 72,997 | 74,917 |
Operating Segments | Automotive | Vehicles, parts, and accessories | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 34,235 | 34,569 | 69,811 | 71,986 |
Operating Segments | Automotive | Used vehicles | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 842 | 655 | 1,862 | 1,583 |
Operating Segments | Automotive | Extended service contracts | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 348 | 328 | 681 | 657 |
Operating Segments | Automotive | Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 219 | 210 | 432 | 429 |
Operating Segments | Automotive | Revenues from sales and services | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 35,644 | 35,762 | 72,786 | 74,655 |
Operating Segments | Automotive | Leasing income | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 114 | 143 | 211 | 262 |
Operating Segments | Automotive | Financing income | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 0 | 0 | 0 | 0 |
Operating Segments | Automotive | Insurance income | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 0 | 0 | 0 | 0 |
Operating Segments | Mobility | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 6 | 6 | 12 | 10 |
Operating Segments | Mobility | Vehicles, parts, and accessories | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 0 | 0 | 0 | 0 |
Operating Segments | Mobility | Used vehicles | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 0 | 0 | 0 | 0 |
Operating Segments | Mobility | Extended service contracts | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 0 | 0 | 0 | 0 |
Operating Segments | Mobility | Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 6 | 6 | 12 | 10 |
Operating Segments | Mobility | Revenues from sales and services | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 6 | 6 | 12 | 10 |
Operating Segments | Mobility | Leasing income | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 0 | 0 | 0 | 0 |
Operating Segments | Mobility | Financing income | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 0 | 0 | 0 | 0 |
Operating Segments | Mobility | Insurance income | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 0 | 0 | 0 | 0 |
Operating Segments | Ford Credit | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 3,089 | 3,009 | 6,186 | 5,952 |
Operating Segments | Ford Credit | Vehicles, parts, and accessories | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 0 | 0 | 0 | 0 |
Operating Segments | Ford Credit | Used vehicles | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 0 | 0 | 0 | 0 |
Operating Segments | Ford Credit | Extended service contracts | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 0 | 0 | 0 | 0 |
Operating Segments | Ford Credit | Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 55 | 58 | 106 | 113 |
Operating Segments | Ford Credit | Revenues from sales and services | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 55 | 58 | 106 | 113 |
Operating Segments | Ford Credit | Leasing income | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 1,472 | 1,443 | 2,949 | 2,858 |
Operating Segments | Ford Credit | Financing income | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 1,521 | 1,465 | 3,049 | 2,897 |
Operating Segments | Ford Credit | Insurance income | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | $ 41 | $ 43 | $ 82 | $ 84 |
Revenue Revenue - Remaining Per
Revenue Revenue - Remaining Performance Obligation (Details) - Operating Segments - Automotive - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Vehicles, parts, and accessories | ||||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||||
Revenue Performance Obligation Satisfied In Prior Period | $ (350) | $ (220) | ||||
Extended service contracts | ||||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||||
Contract with Customer, Liability | $ 4,000 | $ 3,800 | ||||
Contract with Customer, Liability, Revenue Recognized | 285 | 269 | $ 590 | $ 567 | ||
Capitalized Contract Cost, Net | 258 | 258 | $ 247 | |||
Capitalized Contract Cost, Amortization | $ 20 | $ 19 | $ 39 | $ 37 | ||
Other revenue | Minimum | ||||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 1 year | 1 year | ||||
Other revenue | Maximum | ||||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 2 years | 2 years |
Revenue Revenue - Remaining P_2
Revenue Revenue - Remaining Performance Obligation, Expected Timing of Satisfaction (Details) - Automotive - Operating Segments - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Extended service contracts | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Capitalized Contract Cost, Amortization | $ 20 | $ 19 | $ 39 | $ 37 |
Contract with Customer, Liability, Revenue Recognized | $ 285 | $ 269 | $ 590 | $ 567 |
Extended service contracts | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 1 year | 1 year | ||
Extended service contracts | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-07-01 | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Revenue, Remaining Performance Obligation, Amount | $ 600 | $ 600 | ||
Extended service contracts | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 1 year | 1 year | ||
Revenue, Remaining Performance Obligation, Amount | $ 1,100 | $ 1,100 | ||
Extended service contracts | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 8 years | 8 years | ||
Revenue, Remaining Performance Obligation, Amount | $ 2,300 | $ 2,300 | ||
Minimum | Other revenue | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 1 year | 1 year | ||
Maximum | Other revenue | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 2 years | 2 years |
Other Income_(Loss) (Details)
Other Income/(Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Net periodic pension and OPEB income/(cost), excluding service cost | $ 111 | $ 429 | $ 383 | $ 906 |
Investment-related interest income | 207 | 167 | 410 | 313 |
Interest income/(expense) on income taxes | (1) | 32 | (21) | 33 |
Realized and unrealized gains/(losses) on cash equivalents, marketable securities, and other investments | (187) | 217 | (120) | 212 |
Gains/(Losses) on changes in investments in affiliates | (1) | 0 | 2 | 58 |
Gains/(Losses) on extinguishment of debt | (53) | 0 | (53) | 0 |
Royalty income | 108 | 129 | 192 | 272 |
Other | 88 | 30 | 107 | 73 |
Total | $ 272 | $ 1,004 | $ 900 | $ 1,867 |
Capital Stock and Earnings Pe_3
Capital Stock and Earnings Per Share (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Basic and Diluted Income Attributable to Ford Motor Company [Abstract] | ||||
Basic income | $ 148 | $ 1,066 | $ 1,294 | $ 2,802 |
Diluted income | $ 148 | $ 1,066 | $ 1,294 | $ 2,802 |
Basic and Diluted Shares [Abstract] | ||||
Basic shares (average shares outstanding) | 3,984 | 3,977 | 3,979 | 3,976 |
Net dilutive options, unvested restricted stock units, and unvested restricted stock shares | 29 | 22 | 26 | 22 |
Diluted shares | 4,013 | 3,999 | 4,005 | 3,998 |
Cash, Cash Equivalents, and M_3
Cash, Cash Equivalents, and Marketable Securities (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total cash and cash equivalents | $ 22,117 | $ 16,718 | ||
Restricted cash | 189 | 189 | ||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 22,306 | 16,907 | $ 17,021 | $ 18,638 |
Fair Value, Measurements, Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 15,931 | 17,233 | ||
Cash and Cash Equivalents, Fair Value Disclosure | 7,028 | 2,221 | ||
Cash, Cash Equivalents, and Short-term Investments | 15,089 | 14,497 | ||
U.S. government | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 2,758 | 3,303 | ||
Cash and Cash Equivalents, Fair Value Disclosure | 1,820 | 359 | ||
U.S. government agencies | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 1,789 | 2,018 | ||
Cash and Cash Equivalents, Fair Value Disclosure | 1,730 | 521 | ||
Non-U.S. government and agencies | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 5,494 | 5,284 | ||
Cash and Cash Equivalents, Fair Value Disclosure | 2,074 | 283 | ||
Corporate debt | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 5,162 | 5,812 | ||
Cash and Cash Equivalents, Fair Value Disclosure | 1,404 | 1,058 | ||
Equities (a) | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 277 | 424 | ||
Other marketable securities | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 451 | 392 | ||
Operating Segments | Automotive | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 387 | 2,674 | ||
Total cash and cash equivalents | 9,381 | 7,058 | ||
Restricted cash | 41 | 16 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 19 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 2,683 | 6,534 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 8 | 79 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 3,070 | 9,208 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 8 | 98 | ||
Operating Segments | Automotive | Fair Value, Measurements, Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 13,684 | 15,925 | ||
Cash and Cash Equivalents, Fair Value Disclosure | 3,822 | 1,059 | ||
Cash, Cash Equivalents, and Short-term Investments | 5,559 | 5,999 | ||
Operating Segments | Automotive | U.S. government | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 2,420 | 3,014 | ||
Cash and Cash Equivalents, Fair Value Disclosure | 1,245 | 220 | ||
Operating Segments | Automotive | U.S. government agencies | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 1,654 | 1,953 | ||
Cash and Cash Equivalents, Fair Value Disclosure | 881 | 496 | ||
Operating Segments | Automotive | Non-U.S. government and agencies | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 4,145 | 4,674 | ||
Cash and Cash Equivalents, Fair Value Disclosure | 1,199 | 169 | ||
Operating Segments | Automotive | Corporate debt | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 4,962 | 5,614 | ||
Cash and Cash Equivalents, Fair Value Disclosure | 497 | 174 | ||
Operating Segments | Automotive | Equities (a) | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 277 | 424 | ||
Operating Segments | Automotive | Other marketable securities | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 226 | 246 | ||
Operating Segments | Mobility | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total cash and cash equivalents | 118 | 53 | ||
Restricted cash | 24 | 33 | ||
Operating Segments | Mobility | Fair Value, Measurements, Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 0 | 0 | ||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 | ||
Cash, Cash Equivalents, and Short-term Investments | 118 | 53 | ||
Operating Segments | Mobility | U.S. government | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 0 | 0 | ||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 | ||
Operating Segments | Mobility | U.S. government agencies | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 0 | 0 | ||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 | ||
Operating Segments | Mobility | Non-U.S. government and agencies | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 0 | 0 | ||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 | ||
Operating Segments | Mobility | Corporate debt | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 0 | 0 | ||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 | ||
Operating Segments | Mobility | Equities (a) | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 0 | 0 | ||
Operating Segments | Mobility | Other marketable securities | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 0 | 0 | ||
Operating Segments | Ford Credit | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total cash and cash equivalents | 12,618 | 9,607 | ||
Restricted cash | 124 | 140 | ||
Operating Segments | Ford Credit | Fair Value, Measurements, Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 2,247 | 1,308 | ||
Cash and Cash Equivalents, Fair Value Disclosure | 3,206 | 1,162 | ||
Cash, Cash Equivalents, and Short-term Investments | 9,412 | 8,445 | ||
Operating Segments | Ford Credit | U.S. government | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 338 | 289 | ||
Cash and Cash Equivalents, Fair Value Disclosure | 575 | 139 | ||
Operating Segments | Ford Credit | U.S. government agencies | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 135 | 65 | ||
Cash and Cash Equivalents, Fair Value Disclosure | 849 | 25 | ||
Operating Segments | Ford Credit | Non-U.S. government and agencies | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 1,349 | 610 | ||
Cash and Cash Equivalents, Fair Value Disclosure | 875 | 114 | ||
Operating Segments | Ford Credit | Corporate debt | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 200 | 198 | ||
Cash and Cash Equivalents, Fair Value Disclosure | 907 | 884 | ||
Operating Segments | Ford Credit | Equities (a) | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 0 | 0 | ||
Operating Segments | Ford Credit | Other marketable securities | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 225 | 146 | ||
Equity Method Investments | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable Securities, Unrealized Gain (Loss) | (147) | 25 | ||
Corporate debt | Operating Segments | Automotive | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 82 | 1,816 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 16 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 379 | 856 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 1 | 17 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 461 | 2,672 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 1 | 33 | ||
Non-U.S. government and agencies | Operating Segments | Automotive | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 27 | 341 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 1 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,076 | 2,445 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 3 | 36 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,103 | 2,786 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 3 | 37 | ||
U.S. government agencies | Operating Segments | Automotive | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 85 | 193 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 1 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 959 | 1,596 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 3 | 17 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,044 | 1,789 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 3 | 18 | ||
U.S. government | Operating Segments | Automotive | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 183 | 199 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 1 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 249 | 1,637 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 9 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 432 | 1,836 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ 0 | $ 10 |
Cash, Cash Equivalents, and M_4
Cash, Cash Equivalents, and Marketable Securities Available for Sale Securities (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||||
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities | $ 0 | $ 0 | |||
Proceeds from Sale of Debt Securities, Available-for-sale | $ 1,858,000,000 | $ 1,507,000,000 | 3,000,000,000 | 2,846,000,000 | |
Available-for-sale Securities, Gross Realized Gains | 3,000,000 | 1,000,000 | 5,000,000 | 1,000,000 | |
Available-for-sale Securities, Gross Realized Losses | 5,000,000 | $ 5,000,000 | 10,000,000 | $ 11,000,000 | |
Operating Segments | Automotive | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Available-for-sale Securities, Amortized Cost Basis | 12,792,000,000 | 12,792,000,000 | $ 12,911,000,000 | ||
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 81,000,000 | 81,000,000 | 12,000,000 | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | (8,000,000) | (8,000,000) | (98,000,000) | ||
Available-for-sale Securities | 12,865,000,000 | 12,865,000,000 | 12,825,000,000 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | 4,967,000,000 | 4,967,000,000 | 3,854,000,000 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 7,779,000,000 | 7,779,000,000 | 8,879,000,000 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | 119,000,000 | 119,000,000 | 92,000,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 387,000,000 | 387,000,000 | 2,674,000,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 | (19,000,000) | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 2,683,000,000 | 2,683,000,000 | 6,534,000,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (8,000,000) | (8,000,000) | (79,000,000) | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 3,070,000,000 | 3,070,000,000 | 9,208,000,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (8,000,000) | (8,000,000) | (98,000,000) | ||
Operating Segments | Automotive | U.S. government | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Available-for-sale Securities, Amortized Cost Basis | 2,360,000,000 | 2,360,000,000 | 2,933,000,000 | ||
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 13,000,000 | 13,000,000 | 5,000,000 | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 | (10,000,000) | ||
Available-for-sale Securities | 2,373,000,000 | 2,373,000,000 | 2,928,000,000 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | 1,423,000,000 | 1,423,000,000 | 1,714,000,000 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 945,000,000 | 945,000,000 | 1,214,000,000 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | 5,000,000 | 5,000,000 | 0 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 183,000,000 | 183,000,000 | 199,000,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 | (1,000,000) | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 249,000,000 | 249,000,000 | 1,637,000,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 | (9,000,000) | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 432,000,000 | 432,000,000 | 1,836,000,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 0 | 0 | (10,000,000) | ||
Operating Segments | Automotive | U.S. government agencies | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Available-for-sale Securities, Amortized Cost Basis | 1,660,000,000 | 1,660,000,000 | 1,920,000,000 | ||
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 2,000,000 | 2,000,000 | 0 | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | (3,000,000) | (3,000,000) | (18,000,000) | ||
Available-for-sale Securities | 1,659,000,000 | 1,659,000,000 | 1,902,000,000 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | 963,000,000 | 963,000,000 | 797,000,000 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 687,000,000 | 687,000,000 | 1,087,000,000 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | 9,000,000 | 9,000,000 | 18,000,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 85,000,000 | 85,000,000 | 193,000,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 | (1,000,000) | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 959,000,000 | 959,000,000 | 1,596,000,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (3,000,000) | (3,000,000) | (17,000,000) | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,044,000,000 | 1,044,000,000 | 1,789,000,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (3,000,000) | (3,000,000) | (18,000,000) | ||
Operating Segments | Automotive | Non-U.S. government and agencies | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Available-for-sale Securities, Amortized Cost Basis | 3,736,000,000 | 3,736,000,000 | 3,841,000,000 | ||
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 19,000,000 | 19,000,000 | 4,000,000 | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | (3,000,000) | (3,000,000) | (37,000,000) | ||
Available-for-sale Securities | 3,752,000,000 | 3,752,000,000 | 3,808,000,000 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | 882,000,000 | 882,000,000 | 194,000,000 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 2,865,000,000 | 2,865,000,000 | 3,614,000,000 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | 5,000,000 | 5,000,000 | 0 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 27,000,000 | 27,000,000 | 341,000,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 | (1,000,000) | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,076,000,000 | 1,076,000,000 | 2,445,000,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (3,000,000) | (3,000,000) | (36,000,000) | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,103,000,000 | 1,103,000,000 | 2,786,000,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (3,000,000) | (3,000,000) | (37,000,000) | ||
Operating Segments | Automotive | Corporate debt | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Available-for-sale Securities, Amortized Cost Basis | 4,850,000,000 | 4,850,000,000 | 4,010,000,000 | ||
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 45,000,000 | 45,000,000 | 3,000,000 | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | (1,000,000) | (1,000,000) | (33,000,000) | ||
Available-for-sale Securities | 4,894,000,000 | 4,894,000,000 | 3,980,000,000 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | 1,699,000,000 | 1,699,000,000 | 1,148,000,000 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 3,177,000,000 | 3,177,000,000 | 2,830,000,000 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | 18,000,000 | 18,000,000 | 2,000,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 82,000,000 | 82,000,000 | 1,816,000,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 | (16,000,000) | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 379,000,000 | 379,000,000 | 856,000,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1,000,000) | (1,000,000) | (17,000,000) | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 461,000,000 | 461,000,000 | 2,672,000,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (1,000,000) | (1,000,000) | (33,000,000) | ||
Operating Segments | Automotive | Other marketable securities | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Available-for-sale Securities, Amortized Cost Basis | 186,000,000 | 186,000,000 | 207,000,000 | ||
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 2,000,000 | 2,000,000 | 0 | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | (1,000,000) | (1,000,000) | 0 | ||
Available-for-sale Securities | 187,000,000 | 187,000,000 | 207,000,000 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | 0 | 0 | 1,000,000 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 105,000,000 | 105,000,000 | 134,000,000 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | 82,000,000 | 82,000,000 | 72,000,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 10,000,000 | 10,000,000 | 125,000,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 | 0 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 20,000,000 | 20,000,000 | 0 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1,000,000) | (1,000,000) | 0 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 30,000,000 | 30,000,000 | 125,000,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (1,000,000) | $ (1,000,000) | $ 0 |
Ford Credit Finance Receivabl_4
Ford Credit Finance Receivables, net (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivables [Line Items] | ||||||
Current portion | $ 53,756 | $ 54,353 | ||||
Non-current portion | 53,875 | 55,544 | ||||
Ford Credit | ||||||
Financing Receivables [Line Items] | ||||||
Financing Receivable, Gross | 108,144 | 110,486 | $ 108,292 | |||
Allowance for credit losses | (513) | $ (513) | (589) | (587) | $ (600) | $ (597) |
Finance receivables, net | 107,631 | 109,897 | 107,705 | |||
Current portion | 53,756 | 54,353 | ||||
Non-current portion | 53,875 | 55,544 | ||||
Net finance receivables subject to fair value (a) | 99,010 | 101,471 | ||||
Uncollected Interest Receivable Excluded From Finance Receivable | 262 | 264 | ||||
Ford Credit | Consumer | ||||||
Financing Receivables [Line Items] | ||||||
Retail installment contracts, gross | 77,720 | 79,622 | ||||
Financing Receivable, Gross | 74,208 | 76,114 | 75,581 | |||
Allowance for credit losses | (496) | (496) | (566) | (573) | (584) | (582) |
Finance receivables, net | 73,712 | 75,008 | ||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 20 | |||||
Ford Credit | Consumer | Retail financing | ||||||
Financing Receivables [Line Items] | ||||||
Retail installment contracts, gross | 68,737 | 70,874 | ||||
Unearned interest supplements | (3,512) | (3,508) | ||||
Financing Receivable, Gross | 74,208 | 76,114 | ||||
Ford Credit | Finance Leases Portfolio Segment | Retail financing | ||||||
Financing Receivables [Line Items] | ||||||
Finance leases, gross | 8,983 | 8,748 | ||||
Financing Receivable, Gross | 8,983 | |||||
Finance receivables, net | 8,621 | |||||
Ford Credit | Non-consumer | ||||||
Financing Receivables [Line Items] | ||||||
Financing Receivable, Gross | 33,936 | 34,372 | 32,711 | |||
Allowance for credit losses | (17) | $ (17) | (23) | (14) | $ (16) | $ (15) |
Finance receivables, net | 33,919 | $ 32,697 | ||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | |||||
Ford Credit | Non-consumer | Dealer financing [Member] | ||||||
Financing Receivables [Line Items] | ||||||
Financing Receivable, Gross | 33,936 | 34,372 | ||||
Ford Credit | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||
Financing Receivables [Line Items] | ||||||
Fair value (b) | 99,142 | 100,877 | ||||
Ford Credit | Securitization Transactions VIE Primary Beneficiary and Non-VIE Primary Beneficiary [Member] | Consumer | ||||||
Financing Receivables [Line Items] | ||||||
Financing Receivable, Gross | 39,300 | 40,700 | ||||
Ford Credit | Securitization Transactions VIE Primary Beneficiary and Non-VIE Primary Beneficiary [Member] | Non-consumer | ||||||
Financing Receivables [Line Items] | ||||||
Financing Receivable, Gross | $ 25,100 | $ 25,700 |
Ford Credit Finance Receivabl_5
Ford Credit Finance Receivables - Aging (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | |
Financing Receivables, Aging [Line Items] | |||
Number Of Days After Which Finance Receivable Is Considered Past Due | 31 days | ||
Ford Credit | |||
Financing Receivables, Aging [Line Items] | |||
Recorded investment | $ 108,144 | $ 110,486 | $ 108,292 |
Ford Credit | Consumer | |||
Financing Receivables, Aging [Line Items] | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 20 | ||
Financing Receivable, Recorded Investment, Past Due | 835 | 1,060 | |
Financing Receivable, Recorded Investment, Current | 73,373 | 75,054 | |
Recorded investment | 74,208 | 76,114 | 75,581 |
Ford Credit | Consumer | Financing Receivables, 31 to 60 Days Past due [Member] | |||
Financing Receivables, Aging [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 662 | 859 | |
Ford Credit | Consumer | Financing Receivables, 61 to 90 Days Past due [Member] | |||
Financing Receivables, Aging [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 103 | 123 | |
Ford Credit | Consumer | Financing Receivables, 91 to 120 Days Past due [Member] | |||
Financing Receivables, Aging [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 31 | 39 | |
Ford Credit | Consumer | Financing Receivables, Greater than 120 Days Past due [Member] | |||
Financing Receivables, Aging [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 39 | 39 | |
Ford Credit | Non-consumer | |||
Financing Receivables, Aging [Line Items] | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | ||
Financing Receivable, Recorded Investment, Past Due | 70 | 76 | |
Financing Receivable, Recorded Investment, Current | 33,866 | 34,296 | |
Recorded investment | $ 33,936 | $ 34,372 | $ 32,711 |
Ford Credit Finance Receivabl_6
Ford Credit Finance Receivables - Credit Quality (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | |
Consumer | Minimum | Special Mention [Member] | |||
Credit quality [Line Items] | |||
Finance Receivables Credit Quality Ratings Term Range | 61 days | ||
Consumer | Minimum | Substandard [Member] | |||
Credit quality [Line Items] | |||
Finance Receivables Credit Quality Ratings Term Range | 120 days | ||
Consumer | Maximum | Pass [Member] | |||
Credit quality [Line Items] | |||
Finance Receivables Credit Quality Ratings Term Range | 60 days | ||
Consumer | Maximum | Special Mention [Member] | |||
Credit quality [Line Items] | |||
Finance Receivables Credit Quality Ratings Term Range | 120 days | ||
Ford Credit | |||
Credit quality [Line Items] | |||
Financing Receivable By Credit Quality Indicator | $ 108,144 | $ 110,486 | $ 108,292 |
Uncollected Interest Receivable Excluded From Finance Receivable | 262 | 264 | |
Ford Credit | Consumer | |||
Credit quality [Line Items] | |||
Financing Receivable By Credit Quality Indicator | 74,208 | 76,114 | 75,581 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 20 | ||
Ford Credit | Non-consumer | |||
Credit quality [Line Items] | |||
Financing Receivable By Credit Quality Indicator | 33,936 | 34,372 | $ 32,711 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | ||
Ford Credit | Non-consumer | Dealer financing [Member] | |||
Credit quality [Line Items] | |||
Financing Receivable By Credit Quality Indicator | 33,936 | 34,372 | |
Ford Credit | Non-consumer | Dealer financing [Member] | Group I | |||
Credit quality [Line Items] | |||
Financing Receivable By Credit Quality Indicator | 26,333 | 27,032 | |
Ford Credit | Non-consumer | Dealer financing [Member] | Group II | |||
Credit quality [Line Items] | |||
Financing Receivable By Credit Quality Indicator | 6,020 | 5,635 | |
Ford Credit | Non-consumer | Dealer financing [Member] | Group III | |||
Credit quality [Line Items] | |||
Financing Receivable By Credit Quality Indicator | 1,468 | 1,576 | |
Ford Credit | Non-consumer | Dealer financing [Member] | Group IV | |||
Credit quality [Line Items] | |||
Financing Receivable By Credit Quality Indicator | $ 115 | $ 129 |
Ford Credit Finance Receivabl_7
Ford Credit Finance Receivables - Impaired (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
Financing Receivable Impaired [Line Items] | ||
Number of Days Past Due After Which Consumer Receivables are Considered Impaired | 120 days | |
Consumer | ||
Financing Receivable Impaired [Line Items] | ||
Impaired Financing Receivable, Recorded Investment | $ 337 | $ 370 |
Impaired Financing Receivable Recorded Investment, Percentage of Receivable | 0.50% | 0.50% |
Non-consumer | ||
Financing Receivable Impaired [Line Items] | ||
Impaired Financing Receivable, Recorded Investment | $ 115 | $ 129 |
Impaired Financing Receivable Recorded Investment, Percentage of Receivable | 0.30% | 0.40% |
Ford Credit Finance Receivabl_8
Ford Credit Finance Receivables Finance Leases (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | |
Lessor, Lease, Description [Line Items] | ||||||||
Operating lease liabilities | $ 327 | $ 327 | $ 0 | |||||
Operating lease liabilities | 1,013 | 1,013 | 0 | |||||
Total operating lease liabilities | 1,340 | 1,340 | ||||||
Ford Credit | ||||||||
Lessor, Lease, Description [Line Items] | ||||||||
Proceeds from Financing Revenue Received under Leases | 97 | $ 95 | 189 | $ 190 | ||||
Financing Receivable, Allowance for Credit Losses | (513) | (587) | (513) | (587) | $ (513) | (589) | $ (600) | $ (597) |
Recorded investment | 108,144 | 108,292 | 108,144 | 108,292 | 110,486 | |||
Finance receivables, net | 107,631 | $ 107,705 | 107,631 | $ 107,705 | 109,897 | |||
Ford Credit | Operating Segments | ||||||||
Lessor, Lease, Description [Line Items] | ||||||||
Finance Lease, Liability, Payments, Due in Next Rolling Twelve Months | 2,075 | 2,075 | ||||||
Finance Lease, Liability, Payments, Due in Rolling Year Two | 2,005 | 2,005 | ||||||
Finance Lease, Liability, Payments, Due in Rolling Year Three | 1,599 | 1,599 | ||||||
Finance Lease, Liability, Payments, Due in Rolling Year Four | 708 | 708 | ||||||
Finance Lease, Liability, Payments, Due in Rolling Year Five | 120 | 120 | ||||||
Finance Lease, Liability, Payments, Due in Rolling after Year Five | 2 | 2 | ||||||
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received | 6,509 | 6,509 | ||||||
Finance Lease, Liability, Undiscounted Excess Amount | (313) | (313) | ||||||
Finance leases, gross | 6,196 | 6,196 | ||||||
Unguaranteed residual assets | 2,661 | 2,661 | ||||||
Initial direct costs | 126 | 126 | ||||||
Finance Leases Portfolio Segment | Ford Credit | Operating Segments | ||||||||
Lessor, Lease, Description [Line Items] | ||||||||
Unearned interest supplements | (345) | (345) | ||||||
Financing Receivable, Allowance for Credit Losses | (17) | (17) | ||||||
Other Noncurrent Assets | ||||||||
Lessor, Lease, Description [Line Items] | ||||||||
Operating Lease, Right-of-Use Asset | 1,299 | 1,299 | ||||||
Other Current Liabilities | ||||||||
Lessor, Lease, Description [Line Items] | ||||||||
Operating lease liabilities | 327 | 327 | ||||||
Other Noncurrent Liabilities | ||||||||
Lessor, Lease, Description [Line Items] | ||||||||
Operating lease liabilities | 1,013 | 1,013 | ||||||
Debt | Automotive Segment [Member] | Operating Segments | ||||||||
Lessor, Lease, Description [Line Items] | ||||||||
Finance Lease, Liability, Current | 89 | 89 | ||||||
Finance Lease, Liability, Noncurrent | $ 72 | $ 72 | ||||||
Minimum | ||||||||
Lessor, Lease, Description [Line Items] | ||||||||
Lessor, Sales-type Lease, Term of Contract | 24 months | 24 months | ||||||
Maximum | ||||||||
Lessor, Lease, Description [Line Items] | ||||||||
Lessor, Sales-type Lease, Term of Contract | 60 months | 60 months | ||||||
Finance Leases Portfolio Segment | Retail financing | Ford Credit | ||||||||
Lessor, Lease, Description [Line Items] | ||||||||
Finance leases, gross | $ 8,983 | $ 8,983 | $ 8,748 | |||||
Recorded investment | 8,983 | 8,983 | ||||||
Finance receivables, net | $ 8,621 | $ 8,621 |
Ford Credit Allowance for Cre_3
Ford Credit Allowance for Credit Losses (Details) - Ford Credit - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Allowance for credit losses [Roll Forward] | |||||
Beginning balance | $ 513 | $ 600 | $ 589 | $ 597 | |
Charge-offs | (117) | (124) | (271) | (257) | |
Recoveries | 51 | 48 | 96 | 88 | |
Provision for credit losses | 63 | 70 | 96 | 164 | |
Other | 3 | (7) | 3 | (5) | |
Ending balance | 513 | 587 | 513 | 587 | |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||||
Collective impairment allowance | 493 | 565 | 493 | 565 | |
Specific impairment allowance | 20 | 22 | 20 | 22 | |
Collectively evaluated for impairment | 107,692 | 107,818 | 107,692 | 107,818 | |
Specifically evaluated for impairment | 452 | 474 | 452 | 474 | |
Recorded investment | 108,144 | 108,292 | 108,144 | 108,292 | $ 110,486 |
Ford Credit finance receivables, net | 107,631 | 107,705 | 107,631 | 107,705 | 109,897 |
Consumer | |||||
Allowance for credit losses [Roll Forward] | |||||
Beginning balance | 496 | 584 | 566 | 582 | |
Charge-offs | (117) | (123) | (254) | (254) | |
Recoveries | 45 | 47 | 88 | 86 | |
Provision for credit losses | 70 | 72 | 94 | 164 | |
Other | 2 | (7) | 2 | (5) | |
Ending balance | 496 | 573 | 496 | 573 | |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||||
Collective impairment allowance | 477 | 552 | 477 | 552 | |
Specific impairment allowance | 19 | 21 | 19 | 21 | |
Collectively evaluated for impairment | 73,871 | 75,203 | 73,871 | 75,203 | |
Specifically evaluated for impairment | 337 | 378 | 337 | 378 | |
Recorded investment | 74,208 | 75,581 | 74,208 | 75,581 | 76,114 |
Ford Credit finance receivables, net | 73,712 | 75,008 | 73,712 | 75,008 | |
Non-consumer | |||||
Allowance for credit losses [Roll Forward] | |||||
Beginning balance | 17 | 16 | 23 | 15 | |
Charge-offs | 0 | (1) | (17) | (3) | |
Recoveries | 6 | 1 | 8 | 2 | |
Provision for credit losses | (7) | (2) | 2 | 0 | |
Other | 1 | 0 | 1 | 0 | |
Ending balance | 17 | 14 | 17 | 14 | |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||||
Collective impairment allowance | 16 | 13 | 16 | 13 | |
Specific impairment allowance | 1 | 1 | 1 | 1 | |
Collectively evaluated for impairment | 33,821 | 32,615 | 33,821 | 32,615 | |
Specifically evaluated for impairment | 115 | 96 | 115 | 96 | |
Recorded investment | 33,936 | 32,711 | 33,936 | 32,711 | $ 34,372 |
Ford Credit finance receivables, net | $ 33,919 | $ 32,697 | $ 33,919 | $ 32,697 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Inventory Disclosure [Abstract] | ||
Raw materials, work-in-process, and supplies | $ 4,619 | $ 4,536 |
Finished products | 7,818 | 6,684 |
Total inventories | $ 12,437 | $ 11,220 |
Net Investment in Operating L_3
Net Investment in Operating Leases Net Investment in Operating Leases (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Property Subject to or Available for Operating Lease, Net [Abstract] | ||
Net investment in operating leases | $ (29,798) | $ (29,119) |
Operating Segments | Automotive | ||
Property Subject to or Available for Operating Lease, Net [Abstract] | ||
Net investment in operating leases | (2,107) | 1,705 |
Operating Segments | Ford Credit | ||
Property Subject to or Available for Operating Lease, Net [Abstract] | ||
Net investment in operating leases | (27,691) | (27,414) |
Vehicles and other equipment, at cost (a) | 33,583 | 33,557 |
Accumulated depreciation | (5,892) | (6,143) |
Securitization Transactions VIE Primary Beneficiary and Non-VIE Primary Beneficiary [Member] | Ford Credit | ||
Property Subject to or Available for Operating Lease, Net [Abstract] | ||
Net investment in operating leases | (14,000) | (16,300) |
Operating Segments | Ford Credit | ||
Lessor, Lease, Description [Line Items] | ||
Operating lease payments due within one year | 4,746 | |
Operating lease payments due after one and within two years | 2,940 | |
Operating lease payments due after two and within three years | 1,029 | |
Operating lease payments due after three and within four years | 73 | |
Operating lease payments due after four and within five years | 5 | |
Total operating lease payments due | $ 8,793 | |
Operating Leases, Income Statement, Lease Revenue [Abstract] | ||
Minimum rentals on operating leases 2019 | 4,708 | |
Minimum rentals on operating leases 2020 | 2,929 | |
Minimum rentals on operating leases 2021 | 1,083 | |
Minimum rentals on operating leases 2022 | 83 | |
Minimum rentals on operating leases 2023 | 6 | |
Total minimum rentals on operating leases | $ 8,809 |
Other Investments Other Inves_3
Other Investments Other Investments (Details) - USD ($) | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Schedule of Equity Method Investments [Line Items] | |||
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities | $ 0 | $ 0 | |
Equity Securities without Readily Determinable Fair Value, Amount | 727,000,000 | $ 250,000,000 | |
Rivian | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity Securities without Readily Determinable Fair Value, Amount | $ 500,000,000 |
Goodwill (Details)
Goodwill (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Goodwill | $ 265 | $ 264 |
Other Liabilities and Deferre_3
Other Liabilities and Deferred Revenue (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Accounts Payable and Accrued Liabilities, Current [Abstract] | ||
Dealer and dealers’ customer allowances and claims | $ 11,989 | $ 11,369 |
Deferred revenue | 2,732 | 2,095 |
Employee benefit plans | 2,097 | 1,755 |
Accrued interest | 1,046 | 988 |
OPEB (a) | 342 | 339 |
Pension (a) | 203 | 204 |
Operating lease liabilities | 327 | 0 |
Other | 3,767 | 3,806 |
Total current other liabilities and deferred revenue | 22,503 | 20,556 |
Accounts Payable and Accrued Liabilities, Noncurrent [Abstract] | ||
Pension (a) | 9,061 | 9,423 |
OPEB (a) | 5,224 | 5,220 |
Dealer and dealers’ customer allowances and claims | 2,163 | 2,497 |
Deferred revenue | 4,184 | 3,985 |
Operating lease liabilities | 1,013 | 0 |
Employee benefit plans | 1,125 | 1,080 |
Other | 1,262 | 1,383 |
Total non-current other liabilities and deferred revenue | 24,032 | 23,588 |
Net pension assets | $ 3,600 | $ 3,300 |
Retirement Benefits - Expense (
Retirement Benefits - Expense (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Pension Plan Contributions | ||||
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year, Description | $ 1,000 | $ 1,000 | ||
Unfunded Plan | ||||
Pension Plan Contributions | ||||
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year, Description | 350 | 350 | ||
Worldwide OPEB | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | ||||
Service cost | 11 | $ 13 | 22 | $ 27 |
Interest cost | 52 | 49 | 105 | 98 |
Expected return on assets | 0 | 0 | 0 | 0 |
Amortization of prior service costs/(credits) | (17) | (28) | (35) | (55) |
Net remeasurement (gain)/loss | 0 | 0 | 0 | 0 |
Separation programs/other | 0 | 1 | 0 | 1 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment | 0 | 0 | 0 | 0 |
Net periodic benefit cost/(income) | 46 | 35 | 92 | 71 |
Curtailments and Settlements | ||||
Net remeasurement (gain)/loss | 0 | 0 | 0 | 0 |
Pension Plan | Funded Plan | ||||
Pension Plan Contributions | ||||
Payment for Pension and Other Postretirement Benefits | 400 | |||
Pension Plan | Unfunded Plan | ||||
Pension Plan Contributions | ||||
Payment for Pension and Other Postretirement Benefits | 150 | |||
UNITED STATES | Pension Plan | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | ||||
Service cost | 114 | 136 | 228 | 272 |
Interest cost | 409 | 366 | 818 | 733 |
Expected return on assets | (649) | (722) | (1,298) | (1,444) |
Amortization of prior service costs/(credits) | 21 | 35 | 43 | 71 |
Net remeasurement (gain)/loss | (10) | 0 | (10) | (26) |
Separation programs/other | 0 | 3 | 1 | 14 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment | (50) | 0 | (50) | (15) |
Net periodic benefit cost/(income) | (165) | (182) | (268) | (395) |
Curtailments and Settlements | ||||
Net remeasurement (gain)/loss | (10) | 0 | (10) | (26) |
UNITED STATES | Pension Plan | Funded Plan | ||||
Pension Plan Contributions | ||||
Payment for Pension and Other Postretirement Benefits | 140 | |||
Foreign Plan | Pension Plan | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | ||||
Service cost | 127 | 151 | 256 | 303 |
Interest cost | 173 | 173 | 349 | 349 |
Expected return on assets | (281) | (329) | (567) | (663) |
Amortization of prior service costs/(credits) | 9 | 7 | 17 | 13 |
Net remeasurement (gain)/loss | 0 | 0 | 0 | 0 |
Separation programs/other | 232 | 16 | 244 | 18 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment | 0 | 0 | 0 | 0 |
Net periodic benefit cost/(income) | 260 | 18 | 299 | 20 |
Curtailments and Settlements | ||||
Net remeasurement (gain)/loss | 0 | $ 0 | 0 | $ 0 |
Defined Benefit Plan, Cash and Cash Equivalents | Pension Plan | Funded Plan | ||||
Pension Plan Contributions | ||||
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year, Description | 650 | 650 | ||
Global Redesign | Pension Plan | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment | (232) | $ (245) | ||
Global Redesign | UNITED STATES | Pension Plan | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | ||||
Net remeasurement (gain)/loss | (10) | |||
Curtailments and Settlements | ||||
Settlements and curtailments | 50 | |||
Net remeasurement (gain)/loss | $ (10) |
Lease Commitments Lease Commi_2
Lease Commitments Lease Commitments (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | |
Operating Lease Right-of-Use Assets and Liabilities | |||
Operating lease liabilities | $ 327 | $ 327 | $ 0 |
Operating lease liabilities | 1,013 | 1,013 | 0 |
Total operating lease liabilities | 1,340 | 1,340 | |
Finance Lease Right-of-Use Assets and Liabilities | |||
Finance Lease, Right-Of-Use Asset, Accumulated Depreciation | (39) | (39) | |
Total finance lease liabilities | 161 | 161 | |
Minimum Non-Cancellable Lease Commitments | |||
Operating Leases, Future Minimum Payments Receivable, Current | 363 | ||
Operating Leases, Future Minimum Payments, Due in Two Years | 271 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 193 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 141 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 106 | ||
Operating Leases, Future Minimum Payments, Due Thereafter | 437 | ||
Operating Leases, Future Minimum Payments Due | $ 1,511 | ||
Operating Lease Liabilities, Payments, Due, Rolling Maturity [Abstract] | |||
Within one year | 367 | 367 | |
After one year and within two years | 275 | 275 | |
After two years and within three years | 196 | 196 | |
After three years and within four years | 146 | 146 | |
After four years and within five years | 115 | 115 | |
After five years | 421 | 421 | |
Total | 1,520 | 1,520 | |
Less: Present value discount | 180 | 180 | |
Lessee, Finance Lease, Lease Not yet Commenced, Future Payments | $ 400 | $ 400 | |
Lessee, Finance Lease, Lease Not yet Commenced, Term of Contract | 20 years | 20 years | |
Finance Lease Liabilities, Payments, Rolling Maturity [Abstract] | |||
Within one year | $ 94 | $ 94 | |
After one year and within two years | 27 | 27 | |
After two years and within three years | 20 | 20 | |
After three years and within four years | 15 | 15 | |
After four years and within five years | 9 | 9 | |
After five years | 6 | 6 | |
Total | 171 | 171 | |
Less: Present value discount | 10 | 10 | |
Supplemental Cash Flow Information [Abstract] | |||
Operating cash flows from operating leases | 215 | ||
Operating cash flows from finance leases | 3 | ||
Financing cash flows from finance leases | 17 | ||
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | 142 | ||
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability | 20 | ||
Components of Lease Expense | |||
Operating lease expense | 110 | 220 | |
Variable lease expense | 12 | 31 | |
Sublease income | (4) | (8) | |
Amortization of right-of-use assets | 4 | 7 | |
Interest on lease liabilities | 2 | 3 | |
Total lease expense | $ 124 | $ 253 | |
Weighted Average Remaining Lease Term and Rate [Abstract] | |||
Operating Lease, Weighted Average Remaining Lease Term | 6 years 9 months 18 days | 6 years 9 months 18 days | |
Finance Lease, Weighted Average Remaining Lease Term | 3 years | 3 years | |
Operating Lease, Weighted Average Discount Rate, Percent | 3.50% | 3.50% | |
Finance Lease, Weighted Average Discount Rate, Percent | 3.50% | 3.50% | |
Other Noncurrent Assets | |||
Operating Lease Right-of-Use Assets and Liabilities | |||
Other assets, non-current | $ 1,299 | $ 1,299 | |
Other Current Liabilities | |||
Operating Lease Right-of-Use Assets and Liabilities | |||
Operating lease liabilities | 327 | 327 | |
Other Noncurrent Liabilities | |||
Operating Lease Right-of-Use Assets and Liabilities | |||
Operating lease liabilities | 1,013 | 1,013 | |
Property, Plant and Equipment | |||
Finance Lease Right-of-Use Assets and Liabilities | |||
Property and equipment, gross | 234 | 234 | |
Property and equipment, net | 195 | 195 | |
Operating Segments | Automotive | Debt | |||
Finance Lease Right-of-Use Assets and Liabilities | |||
Automotive debt payable within one year | 89 | 89 | |
Automotive long-term debt | $ 72 | $ 72 | |
Minimum | |||
Lessee, Lease, Description [Line Items] | |||
Lessee, Operating Lease, Term of Contract | 1 year | 1 year | |
Maximum | |||
Lessee, Lease, Description [Line Items] | |||
Lessee, Operating Lease, Term of Contract | 40 years | 40 years |
Debt - Debt Outstanding (Detail
Debt - Debt Outstanding (Details) - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
Ford Credit | ||
Debt Instrument [Line Items] | ||
Debt Carrying Value Fair Value | $ 39,400 | $ 38,000 |
Operating Segments | Automotive | ||
Debt Instrument [Line Items] | ||
Short-term Debt, Fair Value | 840 | 458 |
Unamortized (discount)/premium, current | 0 | (16) |
Debt payable within one year | 2,229 | 2,314 |
Unamortized (discount)/premium, noncurrent | (167) | (224) |
Unamortized issuance costs, noncurrent | (94) | (72) |
Total long-term debt payable after one year | 11,765 | 11,233 |
Total debt | 13,994 | 13,547 |
Operating Segments | Automotive | Delayed draw term loan (b) | ||
Debt Instrument [Line Items] | ||
Increase (Decrease) to Credit Facility | 500 | |
Operating Segments | Automotive | Corporate debt | ||
Debt Instrument [Line Items] | ||
Proceeds from Issuance of Debt | 750 | |
Long-term debt payable after one year | 9,783 | 9,033 |
Operating Segments | Automotive | Notes Payable, Other Payables | ||
Debt Instrument [Line Items] | ||
Long-term payable within one year | 495 | 1,125 |
Long-term debt payable after one year | 568 | 1,026 |
Operating Segments | Automotive | Notes Payable, Other Payables | U.S. Department of Energy Advanced Technology Vehicles Manufacturing (“DOE ATVM”) Incentive Program | ||
Debt Instrument [Line Items] | ||
Long-term payable within one year | 591 | 591 |
Long-term debt payable after one year | 1,175 | 1,470 |
Operating Segments | Automotive | Notes Payable, Other Payables | Delayed draw term loan (b) | ||
Debt Instrument [Line Items] | ||
Long-term debt payable after one year | 500 | 0 |
Operating Segments | Automotive | Notes Payable, Other Payables | ||
Debt Instrument [Line Items] | ||
Short-term | 1,143 | 614 |
Operating Segments | Automotive | Fair Value, Measurements, Nonrecurring [Member] | Level 2 [Member] | ||
Debt Instrument [Line Items] | ||
Fair Value | 14,694 | 13,319 |
Operating Segments | Ford Credit | ||
Debt Instrument [Line Items] | ||
Short-term Debt, Fair Value | 13,300 | 13,800 |
Unamortized (discount)/premium, current | 1 | 2 |
Unamortized issuance costs, current | (18) | (16) |
Adjustment Fair Value Hedging Instruments Unsecured Debt, Current | (15) | (15) |
Debt payable within one year | 50,492 | 51,179 |
Unamortized (discount)/premium, noncurrent | (1) | 0 |
Unamortized issuance costs, noncurrent | (206) | (195) |
Fair value adjustments, noncurrent | 558 | (171) |
Total long-term debt payable after one year | 90,978 | 88,887 |
Total debt | 141,470 | 140,066 |
Operating Segments | Ford Credit | Unsecured Debt | ||
Debt Instrument [Line Items] | ||
Long-term debt payable after one year | 57,379 | 52,409 |
Operating Segments | Ford Credit | Secured Debt | ||
Debt Instrument [Line Items] | ||
Long-term payable within one year | 22,836 | 22,130 |
Long-term debt payable after one year | 33,248 | 36,844 |
Operating Segments | Ford Credit | Unsecured Debt | ||
Debt Instrument [Line Items] | ||
Long-term payable within one year | 13,387 | 14,373 |
Operating Segments | Ford Credit | Notes Payable, Other Payables | ||
Debt Instrument [Line Items] | ||
Short-term | 14,301 | 14,705 |
Operating Segments | Ford Credit | Fair Value, Measurements, Nonrecurring [Member] | Level 2 [Member] | ||
Debt Instrument [Line Items] | ||
Fair Value | 142,775 | 138,809 |
Operating Segments | Other | ||
Debt Instrument [Line Items] | ||
Debt payable within one year | 130 | 0 |
Unamortized (discount)/premium, noncurrent | (3) | (3) |
Unamortized issuance costs, noncurrent | (1) | (1) |
Total long-term debt payable after one year | 470 | 600 |
Total debt | 600 | 600 |
Operating Segments | Other | Unsecured Debt | ||
Debt Instrument [Line Items] | ||
Debt payable within one year | 130 | 0 |
Long-term debt payable after one year | 474 | 604 |
Operating Segments | Other | Fair Value, Measurements, Nonrecurring [Member] | Level 2 [Member] | ||
Debt Instrument [Line Items] | ||
Fair Value | $ 737 | $ 697 |
Income Effect of Derivative Fin
Income Effect of Derivative Financial Instruments (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Derivative [Line Items] | ||||
Gain/(Loss) Recognized in Income | $ 168 | $ 257 | $ 5 | $ 53 |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Foreign currency exchange contracts [Member] | ||||
Derivative [Line Items] | ||||
Gain/(Loss) Reclassified from AOCI to Income | 44 | (12) | 98 | 5 |
Gain/(Loss) Recorded in OCI | 205 | 60 | (316) | 121 |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Commodity Contract [Member] | ||||
Derivative [Line Items] | ||||
Gain/(Loss) Reclassified from AOCI to Income | (6) | 0 | (11) | 0 |
Gain/(Loss) Recorded in OCI | (37) | (26) | ||
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Interest rate contracts [Member] | ||||
Derivative [Line Items] | ||||
Net interest settlements and accruals on hedging instruments | (12) | (2) | (32) | 24 |
Fair value changes on hedging instruments | 474 | (90) | 724 | (429) |
Fair value changes on hedged debt | (463) | 82 | (716) | 411 |
Not Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | ||||
Derivative [Line Items] | ||||
Gain/(Loss) Recognized in Income | 5 | 416 | (23) | 300 |
Not Designated as Hedging Instrument [Member] | Cross-currency interest rate swap contracts [Member] | ||||
Derivative [Line Items] | ||||
Gain/(Loss) Recognized in Income | 141 | (125) | (4) | (183) |
Not Designated as Hedging Instrument [Member] | Interest rate contracts [Member] | ||||
Derivative [Line Items] | ||||
Gain/(Loss) Recognized in Income | (3) | (20) | (30) | (37) |
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | ||||
Derivative [Line Items] | ||||
Gain/(Loss) Recognized in Income | (12) | 8 | (1) | (38) |
Nonoperating Income (Expense) [Member] | Not Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | ||||
Derivative [Line Items] | ||||
Gain/(Loss) Recognized in Income | 40 | 110 | 34 | 98 |
Cost of Sales [Member] | Not Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | ||||
Derivative [Line Items] | ||||
Gain/(Loss) Recognized in Income | $ (35) | $ 306 | $ (57) | $ 202 |
Balance Sheet Effect of Derivat
Balance Sheet Effect of Derivative Financial Instruments (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Derivative [Line Items] | ||
Notional | $ 134,526 | $ 142,760 |
Derivative Asset, Current | 290 | 681 |
Derivative Asset, Noncurrent | 1,106 | 540 |
Derivative Asset | 1,396 | 1,221 |
Derivative Liability, Current | 617 | 601 |
Derivative Liability, Noncurrent | 221 | 312 |
Derivative Liability | 838 | 913 |
Held collateral | 24 | 19 |
Posted collateral | 85 | 59 |
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Notional | 13,376 | 15,972 |
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Fair Value Hedging [Member] | ||
Derivative [Line Items] | ||
Notional | 25,308 | 22,989 |
Designated as Hedging Instrument [Member] | Commodity Contract [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Notional | 583 | 327 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Notional | 23,117 | 20,695 |
Not Designated as Hedging Instrument [Member] | Cross-currency interest rate swap contracts [Member] | ||
Derivative [Line Items] | ||
Notional | 7,879 | 5,235 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Notional | 63,877 | 76,904 |
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | ||
Derivative [Line Items] | ||
Notional | 386 | 638 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 1,396 | 1,221 |
Fair Value of Liabilities | 838 | 913 |
Counterparty Netting, Not Offset | 387 | 434 |
Counterparty Netting, Not Offset | 387 | 434 |
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 | 101 | 391 |
Fair Value of Liabilities | 151 | 110 |
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 | 687 | 158 |
Fair Value of Liabilities | 13 | 208 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Designated as Hedging Instrument [Member] | Commodity Contract [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 0 | 0 |
Fair Value of Liabilities | 36 | 20 |
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 | 124 | 202 |
Fair Value of Liabilities | 189 | 99 |
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 | 228 | 232 |
Fair Value of Liabilities | 163 | 157 |
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 | 255 | 235 |
Fair Value of Liabilities | 270 | 274 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 1 | 3 |
Fair Value of Liabilities | $ 16 | $ 45 |
Employee Separation Actions a_3
Employee Separation Actions and Exit and Disposal Activities (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2019 | Jul. 31, 2019 | |
Operating Segments | Automotive | |||
Restructuring Reserve | |||
Beginning balance | $ 414 | $ 291 | |
Changes in accruals (a) | 741 | 1,008 | |
Payments | (222) | (358) | |
Foreign currency translation | (4) | (12) | |
Ending balance | 929 | 929 | |
Global Redesign | Accelerated depreciation | |||
Restructuring Reserve | |||
Restructuring Charges | 291 | 542 | |
Global Redesign | Pension Costs | |||
Restructuring Reserve | |||
Restructuring Charges | 182 | 195 | |
Minimum | Global Redesign | Accelerated depreciation, separations, and payments | |||
Restructuring Reserve | |||
Restructuring and Related Cost, Expected Cost | 3,000 | 3,000 | |
Maximum | Global Redesign | Accelerated depreciation, separations, and payments | |||
Restructuring Reserve | |||
Restructuring and Related Cost, Expected Cost | $ 3,500 | $ 3,500 | |
Ford Sollers Joint Venture | |||
Restructuring Reserve | |||
Ford's Ownership Percentage | 100.00% | 100.00% | |
Subsequent Event | Ford Sollers Joint Venture | |||
Restructuring Reserve | |||
Ownership Percentage Sold to Sollers | 51.00% |
Redeemable Noncontrolling Int_2
Redeemable Noncontrolling Interest (Details) - Ford Sollers Joint Venture - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
Redeemable Noncontrolling Interest [Line Items] | ||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 50.00% | |
Redeemable noncontrolling interest (Note 19) | $ 100 | |
Redeemable Noncontrolling Interest, Equity, Redemption Value | $ 135 | |
Noncontrolling Interest, Explanation of Increase (Decrease) | $ 35 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income/(Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Derivative instruments [Abstract] | |||||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $ (82) | ||||
Pension and other postretirement benefits | |||||
Total AOCI ending balance at June 30 | (7,436) | $ (7,436) | $ (7,366) | ||
Parent Company [Member] | |||||
Foreign currency transaction [Abstract] | |||||
Beginning balance | (4,557) | $ (3,981) | (4,800) | $ (4,277) | |
Gains/(Losses) on foreign currency translation | (139) | (527) | 132 | (283) | |
Less: Tax/(Tax benefit) | (12) | 69 | 16 | 19 | |
Net gains/(losses) on foreign currency translation | (127) | (596) | 116 | (302) | |
(Gains)/Losses reclassified from AOCI to income | 0 | 0 | 0 | 2 | |
Other comprehensive income/(loss), net of tax | (127) | (596) | 116 | (300) | |
Ending balance | (4,684) | (4,577) | (4,684) | (4,577) | |
Marketable securities [Abstract] | |||||
Beginning balance | 4 | (95) | (59) | (48) | |
Gains/(Losses) on available for sale securities | 74 | (15) | 154 | (84) | |
Less: Tax/(Tax benefit) | 17 | (4) | 36 | (21) | |
Net gains/(losses) on available for sale securities | 57 | (11) | 118 | (63) | |
(Gains)/Losses reclassified from AOCI to net income | 2 | 4 | 5 | 10 | |
Less: Tax/(Tax benefit) | 0 | 1 | 1 | 2 | |
Net (gains)/losses reclassified from AOCI to net income | 2 | 3 | 4 | 8 | |
Other comprehensive income/(loss), net of tax | 59 | (8) | 122 | (55) | |
Ending balance | 63 | (103) | 63 | (103) | |
Derivative instruments [Abstract] | |||||
Beginning balance | (245) | 51 | 201 | 18 | |
Gains/(Losses) on available for sale securities | 168 | 60 | (342) | 121 | |
Less: Tax/(Tax benefit) | 24 | 14 | (78) | 29 | |
Net gains/(losses) on available for sale securities | 144 | 46 | (264) | 92 | |
(Gains)/Losses reclassified from AOCI to net income | (38) | 12 | (87) | (5) | |
Less: Tax/(Tax benefit) | (11) | 6 | (22) | 2 | |
Net (gains)/losses reclassified from AOCI to net income | (27) | 6 | (65) | (7) | |
Other comprehensive income/(loss), net of tax | 117 | 52 | (329) | 85 | |
Ending balance | (128) | 103 | (128) | 103 | |
Pension and other postretirement benefits | |||||
Beginning balance | (2,703) | (2,644) | (2,708) | (2,652) | |
Amortization of prior service costs/(credits) | 13 | 14 | 25 | 29 | |
Less: Tax/(Tax benefit) | 3 | 3 | 5 | 6 | |
Net prior service costs/(credits) reclassified from AOCI to net income | 10 | 11 | 20 | 23 | |
Translation impact on non-U.S. plans | 6 | 6 | 1 | 2 | |
Other comprehensive income/(loss), net of tax | 16 | 17 | 21 | 25 | |
Ending balance | (2,687) | (2,627) | (2,687) | (2,627) | |
Total AOCI ending balance at June 30 | $ (7,436) | $ (7,204) | $ (7,436) | $ (7,204) |
Commitments and Contingencies_3
Commitments and Contingencies (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Guarantor Obligations [Line Items] | |||
Maximum potential payments | $ 1,043 | $ 1,163 | |
Carrying value of recorded liabilities related to guarantees and limited indemnities | 324 | $ 351 | |
Loss Contingency [Abstract] | |||
Loss contingency estimate | 700 | ||
Warranty [Abstract] | |||
Beginning balance | 5,137 | $ 5,296 | |
Payments made during the period | (2,192) | (1,911) | |
Changes in accrual related to warranties issued during the period | 1,424 | 1,252 | |
Changes in accrual related to pre-existing warranties | 715 | 337 | |
Foreign currency translation and other | 23 | (96) | |
Ending balance | 5,107 | $ 4,878 | |
Guarantees to daily rental companies | |||
Guarantor Obligations [Line Items] | |||
Maximum potential payments | 897 | ||
Carrying value of recorded liabilities related to guarantees and limited indemnities | $ 297 |
Segment Information (Details)
Segment Information (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Segment Information | |||||
Revenues | $ 38,853 | $ 38,920 | $ 79,195 | $ 80,879 | |
Income/(loss) before income taxes | 205 | 1,349 | 1,815 | 3,268 | |
Equity in net income/(loss) of affiliated companies | 87 | 60 | 112 | 284 | |
Cash, cash equivalents, marketable securities, and restricted cash | 38,237 | 36,669 | 38,237 | 36,669 | |
Total assets | 262,184 | 258,079 | 262,184 | 258,079 | $ 256,540 |
Operating Segments | Automotive | |||||
Segment Information | |||||
Revenues | 35,758 | 35,905 | 72,997 | 74,917 | |
Income/(loss) before income taxes | 1,373 | 1,157 | 3,382 | 2,889 | |
Equity in net income/(loss) of affiliated companies | 72 | 54 | 89 | 272 | |
Cash, cash equivalents, marketable securities, and restricted cash | 23,106 | 25,108 | 23,106 | 25,108 | |
Total assets | 102,641 | 103,306 | 102,641 | 103,306 | |
Operating Segments | Mobility | |||||
Segment Information | |||||
Revenues | 6 | 6 | 12 | 10 | |
Income/(loss) before income taxes | (264) | (181) | (552) | (283) | |
Equity in net income/(loss) of affiliated companies | 7 | 0 | 9 | 0 | |
Cash, cash equivalents, marketable securities, and restricted cash | 142 | 50 | 142 | 50 | |
Total assets | 1,153 | 470 | 1,153 | 470 | |
Operating Segments | Ford Credit | |||||
Segment Information | |||||
Revenues | 3,089 | 3,009 | 6,186 | 5,952 | |
Income/(loss) before income taxes | 831 | 645 | 1,632 | 1,286 | |
Equity in net income/(loss) of affiliated companies | 8 | 6 | 14 | 12 | |
Cash, cash equivalents, marketable securities, and restricted cash | 14,989 | 11,511 | 14,989 | 11,511 | |
Total assets | 163,141 | 158,604 | 163,141 | 158,604 | |
Corporate Other | |||||
Segment Information | |||||
Revenues | 0 | 0 | 0 | 0 | |
Income/(loss) before income taxes | (286) | 71 | (361) | (15) | |
Equity in net income/(loss) of affiliated companies | 0 | 0 | 0 | 0 | |
Cash, cash equivalents, marketable securities, and restricted cash | 0 | 0 | 0 | 0 | |
Total assets | 0 | 0 | 0 | 0 | |
Interest on Debt | Adjustments | |||||
Segment Information | |||||
Revenues | 0 | 0 | 0 | 0 | |
Income/(loss) before income taxes | (244) | (301) | (489) | (590) | |
Equity in net income/(loss) of affiliated companies | 0 | 0 | 0 | 0 | |
Cash, cash equivalents, marketable securities, and restricted cash | 0 | 0 | 0 | 0 | |
Total assets | 0 | 0 | 0 | 0 | |
Special Items | Adjustments | |||||
Segment Information | |||||
Revenues | 0 | 0 | 0 | 0 | |
Income/(loss) before income taxes | (1,205) | (42) | (1,797) | (19) | |
Equity in net income/(loss) of affiliated companies | 0 | 0 | 0 | 0 | |
Cash, cash equivalents, marketable securities, and restricted cash | 0 | 0 | 0 | 0 | |
Total assets | 0 | 0 | 0 | 0 | |
Adjustments | Adjustments | |||||
Segment Information | |||||
Revenues | 0 | 0 | 0 | 0 | |
Income/(loss) before income taxes | 0 | 0 | 0 | 0 | |
Equity in net income/(loss) of affiliated companies | 0 | 0 | 0 | 0 | |
Cash, cash equivalents, marketable securities, and restricted cash | 0 | 0 | 0 | 0 | |
Total assets | $ (4,751) | $ (4,301) | $ (4,751) | $ (4,301) |