DOCUMENT AND ENTITY INFORMATION
DOCUMENT AND ENTITY INFORMATION Document - shares | 3 Months Ended | |
Mar. 31, 2020 | Apr. 24, 2020 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2020 | |
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 | Q1 | |
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 $.01 per share | |
Trading Symbol | F | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2020 | |
Entity Central Index Key | 0000037996 | |
Current Fiscal Year End Date | --12-31 | |
Entity Small Business | false | |
Common Stock | ||
Entity Common Stock, Shares Outstanding | 3,906,187,867 | |
Class B Stock | ||
Entity Common Stock, Shares Outstanding | 70,852,076 | |
FPRB | ||
Title of 12(b) Security | 6.200% Notes due June 1, 2059 | |
Trading Symbol | FPRB | |
FPRC [Member] | ||
Title of 12(b) Security | 6.000% Notes due December 1, 2059 | |
Trading Symbol | FPRC |
CONSOLIDATED STATEMENT OF CASH
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract] | ||
Net income/(loss) | $ (1,993) | $ 1,183 |
Depreciation and tooling amortization | 2,444 | 2,429 |
Other amortization | (302) | (287) |
Held-for-sale impairment charges | 3 | 0 |
Provision for credit losses | 598 | 43 |
Pension and other post-retirement employee benefits (“OPEB”) expense/(income) | (178) | (18) |
Equity investment dividends received in excess of (earnings)/losses | 118 | 17 |
Foreign currency adjustments | 338 | (49) |
Net (gain)/loss on changes in investments in affiliates | (15) | (3) |
Stock compensation | 38 | 85 |
Provision for deferred income taxes | 702 | 221 |
Decrease/(Increase) in finance receivables (wholesale and other) | (1,080) | (1,813) |
Decrease/(Increase) in accounts receivable and other assets | 39 | (237) |
Decrease/(Increase) in inventory | (1,177) | (1,083) |
Increase/(Decrease) in accounts payable and accrued and other liabilities | 194 | 2,944 |
Other | (202) | 112 |
Net cash provided by/(used in) operating activities | (473) | 3,544 |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations [Abstract] | ||
Capital spending | (1,780) | (1,633) |
Acquisitions of finance receivables and operating leases | (12,184) | (12,595) |
Collections of finance receivables and operating leases | 12,709 | 12,336 |
Proceeds from sale of business (Note 17) | 1,340 | 0 |
Purchases of marketable securities and other investments | (8,244) | (3,923) |
Sales and maturities of marketable securities and other investments | 4,998 | 4,441 |
Settlements of derivatives | 131 | (14) |
Other | (84) | 54 |
Net cash provided by/(used in) investing activities | (3,114) | (1,334) |
Net Cash Provided by (Used in) Financing Activities, Continuing Operations [Abstract] | ||
Cash payments for dividends and dividend equivalents | (596) | (597) |
Purchases of common stock | 0 | 0 |
Net changes in short-term debt | (622) | 420 |
Proceeds from issuance of long-term debt | 26,691 | 15,411 |
Principal payments on long-term debt | (12,948) | (13,277) |
Other | (71) | (84) |
Net cash provided by/(used in) financing activities | 12,454 | 1,873 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect [Abstract] | ||
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (448) | 29 |
Net increase/(decrease) in cash, cash equivalents, and restricted cash | 8,419 | 4,112 |
Cash, cash equivalents, and restricted cash at beginning of period (Note 7) | 17,741 | 16,907 |
Cash, cash equivalents, and restricted cash at end of period (Note 7) | $ 26,160 | $ 21,019 |
CONSOLIDATED INCOME STATEMENT
CONSOLIDATED INCOME STATEMENT - USD ($) shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Revenues | ||
Total revenues (Note 3) | $ 34,320 | $ 40,342 |
Costs and expenses | ||
Cost of sales | 30,522 | 33,942 |
Selling, administrative, and other expenses | 2,432 | 2,843 |
Total costs and expenses | 35,878 | 39,140 |
Operating income/(loss) | (1,558) | 1,202 |
Other income/(loss), net | 680 | 628 |
Equity in net income/(loss) of affiliated companies | (41) | 25 |
Income/(Loss) before income taxes | (1,146) | 1,610 |
Provision for/(Benefit from) income taxes | 847 | 427 |
Net income/(loss) | (1,993) | 1,183 |
Less: Income/(Loss) attributable to noncontrolling interests | 0 | 37 |
Net income/(loss) attributable to Ford Motor Company | $ (1,993) | $ 1,146 |
Basic income | ||
Basic income (in dollars per share) | $ (0.50) | $ 0.29 |
Diluted income | ||
Diluted income (in dollars per share) | $ (0.50) | $ 0.29 |
Weighted Average Number of Shares Outstanding, Basic | 3,963 | 3,973 |
Weighted Average Number of Shares Outstanding, Diluted | 3,963 | 3,997 |
Operating Segments | Automotive | ||
Revenue from Contract with Customer, Including Assessed Tax | $ 31,340 | $ 37,239 |
Revenues | ||
Total revenues (Note 3) | 31,340 | 37,239 |
Costs and expenses | ||
Interest expense on Automotive debt | 214 | 231 |
Equity in net income/(loss) of affiliated companies | (47) | 17 |
Income/(Loss) before income taxes | (177) | 2,009 |
Operating Segments | Ford Credit | ||
Revenue from Contract with Customer, Including Assessed Tax | 2,967 | 3,097 |
Revenues | ||
Total revenues (Note 3) | 2,967 | 3,097 |
Costs and expenses | ||
Ford Credit interest, operating, and other expenses | 2,924 | 2,355 |
Equity in net income/(loss) of affiliated companies | 6 | 6 |
Income/(Loss) before income taxes | 30 | 801 |
Operating Segments | All Other | ||
Costs and expenses | ||
Interest expense on Automotive debt | 13 | 14 |
Operating Segments | Mobility | ||
Revenue from Contract with Customer, Including Assessed Tax | 13 | 6 |
Revenues | ||
Total revenues (Note 3) | 13 | 6 |
Costs and expenses | ||
Equity in net income/(loss) of affiliated companies | 0 | 2 |
Income/(Loss) before income taxes | $ (334) | $ (288) |
CONSOLIDATED STATEMENT OF COMPR
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ (1,993) | $ 1,183 |
Foreign currency translation | (1,453) | 243 |
Marketable Securities | 14 | 63 |
Derivative instruments | 692 | (446) |
Pension and other postretirement benefits | 14 | 5 |
Total other comprehensive income/(loss), net of tax | (733) | (135) |
Comprehensive income | (2,726) | 1,048 |
Less: Comprehensive income/(loss) attributable to noncontrolling interests | 0 | 37 |
Comprehensive income attributable to Ford Motor Company | $ (2,726) | $ 1,011 |
CONSOLIDATED BALANCE SHEET
CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Current Assets | ||
Cash and cash equivalents (Note 7) | $ 25,971 | $ 17,504 |
Marketable securities (Note 7) | 20,399 | 17,147 |
Ford Credit finance receivables, net of allowance for credit losses of $162 and $389 (Note 8) | 54,889 | 53,651 |
Trade and other receivables, less allowances of $63 and $72 | 6,625 | 9,237 |
Inventories | 11,312 | 10,786 |
Assets held for sale (Note 17) | 700 | 2,383 |
Other assets, current | 4,380 | 3,339 |
Total current assets | 124,276 | 114,047 |
Noncurrent Assets | ||
Ford Credit finance receivables, net of allowance for credit losses of $351 and $842 (Note 8) | 51,141 | 53,703 |
Net investment in operating leases | 28,514 | 29,230 |
Net property | 35,294 | 36,469 |
Equity in net assets of affiliated companies | 2,275 | 2,519 |
Deferred Income Tax Assets, Net | 10,922 | 11,863 |
Other assets, non-current | 11,728 | 10,706 |
Total assets | 264,150 | 258,537 |
Current Liabilities | ||
Payables | 18,439 | 20,673 |
Other liabilities and deferred revenue (Note 12) | 22,674 | 22,987 |
Liabilities held for sale (Note 17) | 469 | 526 |
Total current liabilities | 94,494 | 98,132 |
Noncurrent Liabilities | ||
Other liabilities and deferred revenue (Note 12) | 25,105 | 25,324 |
Deferred Tax Liabilities, Other | 439 | 490 |
Total liabilities | 234,452 | 225,307 |
EQUITY | ||
Capital in excess of par value of stock | 22,150 | 22,165 |
Retained earnings | 17,527 | 20,320 |
Accumulated other comprehensive income/(loss) (Note 18) | (8,461) | (7,728) |
Treasury stock | (1,607) | (1,613) |
Total equity attributable to Ford Motor Company | 29,650 | 33,185 |
Equity attributable to noncontrolling interests | 48 | 45 |
Total equity | 29,698 | 33,230 |
Total liabilities and equity | 264,150 | 258,537 |
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 of allowance for credit losses of $162 and $389 (Note 8) | 54,889 | 53,651 |
Ford Credit finance receivables, net | 106,030 | 107,354 |
Noncurrent Assets | ||
Ford Credit finance receivables, net of allowance for credit losses of $351 and $842 (Note 8) | 51,141 | 53,703 |
Operating Segments | Automotive | ||
Current Assets | ||
Cash and cash equivalents (Note 7) | 16,248 | 8,320 |
Noncurrent Assets | ||
Total assets | 111,388 | |
Current Liabilities | ||
Debt payable within one year | 1,609 | 1,445 |
Noncurrent Liabilities | ||
Long-term debt | 28,411 | 13,233 |
EQUITY | ||
Debt and Lease Obligation | 30,020 | 14,678 |
Operating Segments | Ford Credit | ||
Current Assets | ||
Cash and cash equivalents (Note 7) | 9,628 | 9,067 |
Noncurrent Assets | ||
Total assets | 156,393 | |
Current Liabilities | ||
Debt payable within one year | 51,303 | 52,371 |
Noncurrent Liabilities | ||
Long-term debt | 85,533 | 87,658 |
EQUITY | ||
Debt and Lease Obligation | 136,836 | 140,029 |
Operating Segments | Other | ||
Current Liabilities | ||
Debt payable within one year | 0 | 130 |
Noncurrent Liabilities | ||
Long-term debt | 470 | 470 |
EQUITY | ||
Debt and Lease Obligation | 470 | 600 |
Variable Interest Entity, Primary Beneficiary | ||
Current Assets | ||
Cash and cash equivalents (Note 7) | 2,549 | 3,202 |
Ford Credit finance receivables, net | 54,038 | 58,478 |
Noncurrent Assets | ||
Net investment in operating leases | 14,410 | 14,883 |
Other assets | 1 | 12 |
EQUITY | ||
Other Liabilities | 110 | 19 |
Debt and Lease Obligation | $ 48,379 | $ 50,865 |
CONSOLIDATED BALANCE SHEET (Par
CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) shares in Millions, $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
ASSETS | ||
Allowance for trade and other receivables | $ 72 | $ 63 |
Financing Receivable, after Allowance for Credit Loss, Current | 389 | 162 |
Financing Receivable, Allowance for Credit Loss, Noncurrent | $ 842 | $ 351 |
Common Stock | ||
EQUITY | ||
Common Stock, par value (in dollars per share) | $ 0.01 | |
Common Stock, shares issued (in shares) | 4,023 | |
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 |
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 18) | Treasury Stock | Total | Equity Attributable to Non-controlling Interests |
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/(loss) | 1,183 | 0 | 0 | 1,146 | 0 | 0 | 1,146 | 37 |
Other comprehensive income/(loss), net | (135) | 0 | 0 | 0 | (135) | 0 | (135) | 0 |
Common stock issued (a) | 20 | 0 | 20 | 0 | 0 | 0 | 20 | 0 |
Treasury stock/other | (12) | 0 | 0 | 0 | 0 | (23) | 23 | 35 |
Cash dividends 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, 2019 | $ 33,230 | 41 | 22,165 | 20,320 | (7,728) | (1,613) | 33,185 | 45 |
Increase (Decrease) in Stockholders' Equity | ||||||||
Adoption of accounting standards | (202) | 0 | 0 | (202) | 0 | 0 | (202) | 0 |
Net income/(loss) | (1,993) | 0 | 0 | (1,993) | 0 | 0 | (1,993) | 0 |
Other comprehensive income/(loss), net | (733) | 0 | 0 | 0 | (733) | 0 | (733) | 0 |
Common stock issued (a) | (15) | 0 | (15) | 0 | 0 | 0 | (15) | 0 |
Stock Issued During Period, Value, Treasury Stock Reissued | 9 | 0 | 0 | 0 | 0 | 6 | 6 | 3 |
Dividends and dividend equivalents declared | (598) | 0 | 0 | (598) | 0 | 0 | (598) | |
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 0 | |||||||
Ending balance at Mar. 31, 2020 | $ 29,698 | $ 41 | $ 22,150 | $ 17,527 | $ (8,461) | $ (1,607) | $ 29,650 | $ 48 |
Increase (Decrease) in Stockholders' Equity | ||||||||
Per share dividend of Common and Class B Stock | $ 0.15 |
Presentation
Presentation | 3 Months Ended |
Mar. 31, 2020 | |
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 consolidated financial statements are presented in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information, instructions to the 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, 2019 (“2019 Form 10-K Report”). Global Pandemic On March 11, 2020, the World Health Organization characterized the outbreak of COVID-19 as a global pandemic and recommended containment and mitigation measures. Since then, extraordinary actions have been taken by international, federal, state, and local public health and governmental authorities to contain and combat the outbreak and spread of COVID-19 in regions throughout the world. These actions include travel bans, quarantines, “stay-at-home” orders, and similar mandates for many individuals to substantially restrict daily activities and for many businesses to curtail or cease normal operations. Consistent with the actions taken by governmental authorities, in late March 2020, we idled our manufacturing operations in regions around the world, other than China, where manufacturing operations were suspended in January and February, but began resuming operations in March. In addition, nearly all of our non-production employees outside of China are currently working remotely in order to reduce the spread of COVID-19. To ensure the Company maintains sufficient cash reserves while taking these unprecedented actions in our operations, on March 19, 2020, we announced the suspension of our regular quarterly dividend and fully drew our corporate and supplemental revolving credit facilities for $15.4 billion (see Note 14 ). To further enhance our liquidity, on April 22, 2020, we issued in the aggregate $8 billion of three -year, five -year, and ten -year public, unsecured debt securities (see Note 21 ). The full impact of the COVID-19 pandemic on our full year financial results will depend on future developments, such as the ultimate duration and scope of the outbreak, its impact on our customers, dealers, and suppliers, the rate at which economic conditions, operations, and demand for our products return to pre-COVID-19 levels, and the risk of a recession in key markets due to the effects of the pandemic. Although the ultimate impact on Ford cannot be determined at this time, we expect our full year 2020 results of operations to be adversely affected. Our first quarter 2020 results include various adjustments to our assets and liabilities made due to the impact of COVID-19, the most significant of which were a valuation allowance of $855 million on certain deferred tax assets (see Note 5 ), a charge of $486 million to the provision for credit losses on Ford Credit’s finance receivables (see Note 8 ), and approximately $100 million of adjustments to net realizable value for certain assets to account for declines in auction values. Our assessments of the effect of COVID-19 on our financial statements, including estimates, are based on a variety of factors and are subject to many uncertainties. Although the potential magnitude and duration of the business and economic impacts of COVID-19 are uncertain, we believe the phased restart of our manufacturing plants, supply network, and other dependent functions is probable of commencing in the second quarter of 2020. We believe this, along with our cash on hand at March 31, 2020, funds received in April 2020 in connection with our unsecured debt offering, and management's operating plan, will provide sufficient liquidity to fund our operations for at least the next twelve months from the issuance of these financial statements. If we experience a significant delay in the phased restart of our manufacturing operations, or we are unable to maintain expected levels of production, we may take additional actions, such as further reducing costs or seeking additional financing. |
New Accounting Standards (Notes
New Accounting Standards (Notes) | 3 Months Ended |
Mar. 31, 2020 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
NEW ACCOUNTING STANDARDS | NEW ACCOUNTING STANDARDS Adoption of New Accounting Standards Accounting Standards Update (“ASU”) 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments . On January 1, 2020, we adopted the new credit loss standard and all of the related amendments, which replaced the incurred loss impairment method with a method that reflects lifetime expected credit losses. We adopted the changes in accounting for credit losses by recognizing the cumulative effect of initially applying the new credit loss 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 accounting standard in effect for those periods. The cumulative effect of the changes made to our consolidated balance sheet at January 1, 2020, for the adoption of ASU 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments , was as follows (in millions): Balance at December 31, 2019 Adjustments due to ASU 2016-13 Balance at January 1, 2020 Assets Ford Credit finance receivables, net, current $ 53,651 $ (69 ) $ 53,582 Trade and other receivables, net 9,237 (3 ) 9,234 Ford Credit finance receivables, net, non-current 53,703 (183 ) 53,520 Equity in net assets of affiliated companies 2,519 (7 ) 2,512 Deferred income taxes 11,863 2 11,865 Liabilities Deferred income taxes 490 (58 ) 432 Equity Retained earnings 20,320 (202 ) 20,118 We also adopted the following ASUs during 2020, none of which had a material impact to our consolidated financial statements or financial statement disclosures: ASU Effective Date 2020-01 Clarifying the Interaction between Equity Securities, Equity Method and Joint Ventures, and Derivatives and Hedging January 1, 2020 2018-18 Clarifying the Interaction between Collaborative Arrangements and Revenue from Contracts with Customers January 1, 2020 2018-15 Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract January 1, 2020 Accounting Standards Issued But Not Yet Adopted The Company considers the applicability and impact of all ASUs. ASUs were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial statements. |
Revenue (Notes)
Revenue (Notes) | 3 Months Ended |
Mar. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
REVENUE | REVENUE The following table disaggregates our revenue by major source for the periods ended March 31 (in millions): First Quarter 2019 Automotive Mobility Ford Credit Consolidated Vehicles, parts, and accessories $ 35,576 $ — $ — $ 35,576 Used vehicles 1,020 — — 1,020 Extended service contracts 333 — — 333 Other revenue 213 6 51 270 Revenues from sales and services 37,142 6 51 37,199 Leasing income 97 — 1,477 1,574 Financing income — — 1,528 1,528 Insurance income — — 41 41 Total revenues $ 37,239 $ 6 $ 3,097 $ 40,342 First Quarter 2020 Automotive Mobility Ford Credit Consolidated Vehicles, parts, and accessories $ 29,841 $ — $ — $ 29,841 Used vehicles 931 — — 931 Extended service contracts 364 — — 364 Other revenue 146 13 41 200 Revenues from sales and services 31,282 13 41 31,336 Leasing income 58 — 1,459 1,517 Financing income — — 1,425 1,425 Insurance income — — 42 42 Total revenues $ 31,340 $ 13 $ 2,967 $ 34,320 The amount of consideration we receive and revenue we recognize on our vehicles, parts, and accessories varies with changes in return rights and marketing incentives we offer to our customers and their customers. Estimates of marketing incentives are based on expected retail and fleet sales volumes, mix of products to be sold, and incentive programs to be offered. Customer acceptance of products and programs, as well as other market conditions, will impact these estimates. As a result of changes in our estimate of marketing incentives, we recorded a decrease related to revenue recognized in prior periods of $481 million and $885 million in the first quarter of 2019 and 2020 , respectively. The change in estimate for the first quarter of 2020 includes additional marketing incentives offered to customers in connection with market conditions affected by the COVID-19 pandemic. We sell separately-priced service contracts that extend mechanical and maintenance coverages beyond our base warranty agreements to vehicle owners (“extended service contracts”). We had a balance of $4.2 billion and $4.1 billion of unearned revenue associated with outstanding contracts reported in Other liabilities and deferred revenue at December 31, 2019 and March 31, 2020, respectively . We expect to recognize approximately $1 billion of the unearned amount in the remainder of 2020 , $1.1 billion in 2021 , and $2 billion thereafter. We recognized $305 million and $330 million of unearned amounts as revenue during the first quarter of 2019 and 2020 , respectively. Amounts paid to dealers to obtain these contracts are deferred and recorded as Other assets . We had a balance of $270 million and $280 million in deferred costs as of December 31, 2019 and March 31, 2020 , respectively. We recognized $19 million and $20 million of amortization during the first quarter of 2019 and 2020 , respectively. |
Other Income_(Loss) (Notes)
Other Income/(Loss) (Notes) | 3 Months Ended |
Mar. 31, 2020 | |
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 March 31 were as follows (in millions): First Quarter 2019 2020 Net periodic pension and OPEB income/(cost), excluding service cost $ 272 $ 451 Investment-related interest income 203 162 Interest income/(expense) on income taxes (20 ) (23 ) Realized and unrealized gains/(losses) on cash equivalents, marketable securities, and other investments 67 (32 ) Gains/(Losses) on changes in investments in affiliates 3 15 Royalty income 84 89 Other 19 18 Total $ 628 $ 680 |
Income Taxes (Notes)
Income Taxes (Notes) | 3 Months Ended |
Mar. 31, 2020 | |
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. During the first quarter of 2020 , based on all available evidence, we established an $855 million valuation allowance against certain tax credits as it is more likely than not that these deferred tax assets will not be realized. In assessing the realizability of deferred tax assets, we have changed our priorities due to the effects of COVID-19 on our operations. We are currently prioritizing preservation of near-term cash in-lieu of long-term planning actions, which could have resulted in cash outlays to preserve some of our tax credits. |
Capital Stock and Earnings Per
Capital Stock and Earnings Per Share (Notes) | 3 Months Ended |
Mar. 31, 2020 | |
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/(loss) per share were calculated using the following (in millions): First Quarter 2019 2020 Basic and Diluted Income/(Loss) Attributable to Ford Motor Company Basic income/(loss) $ 1,146 $ (1,993 ) Diluted income/(loss) 1,146 (1,993 ) Basic and Diluted Shares Basic shares (average shares outstanding) 3,973 3,963 Net dilutive options, unvested restricted stock units, and unvested restricted stock shares (a) 24 — Diluted shares 3,997 3,963 __________ (a) Not included in the calculation of diluted earnings per share, due to their antidilutive effect, are 30 million |
Cash, Cash Equivalents, and Mar
Cash, Cash Equivalents, and Marketable Securities (Notes) | 3 Months Ended |
Mar. 31, 2020 | |
Cash, Cash Equivalents, and Marketable Securities [Abstract] | |
Cash, Cash Equivalents, and Marketable Securities [Text Block] | CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES Cash Equivalents Cash and cash equivalents are highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of change in value due to interest rate, quoted price, or penalty on withdrawal. A debt security is classified as a cash equivalent if it meets these criteria and if it has a remaining time to maturity of three months or less from the date of acquisition. Amounts on deposit and available upon demand, or negotiated to provide for daily liquidity without penalty, are classified as cash and cash equivalents. Time deposits, certificates of deposit, and money market accounts that meet the above criteria are reported at par value on our consolidated balance sheet. Marketable Securities Investments in securities with a maturity date greater than three months at the date of purchase, and other securities for which there is more than an insignificant risk of change in value due to interest rate, quoted price, or penalty on withdrawal, are classified as marketable securities . Realized gains and losses and interest income on all of our marketable securities and unrealized gains and losses on securities not classified as available for sale are recorded in Other income/(loss), net . Unrealized gains and losses on available-for-sale securities are recognized in Unrealized gains and losses on securities , a component of Other comprehensive income/(loss), net of tax . Realized gains and losses and reclassifications of accumulated other comprehensive income into net income are measured using the specific identification method. On a quarterly basis, we review our available-for-sale securities for credit losses. We compare the present value of cash flows expected to be collected from the security with the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis of the security, we determine if a credit loss allowance is necessary. If a credit loss allowance is necessary, we will record an allowance, limited by the amount that fair value is less than the amortized cost basis, and recognize the corresponding charge in Other income/(loss), net . Factors we consider to make such determination include the severity of the impairment, the reason for the decline in value, interest rate changes, and counterparty long-term ratings. NOTE 7. CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES (Continued) 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, 2019 Fair Value Level Automotive Mobility Ford Credit Consolidated Cash and cash equivalents U.S. government 1 $ 520 $ — $ — $ 520 U.S. government agencies 2 125 — — 125 Non-U.S. government and agencies 2 601 — 350 951 Corporate debt 2 642 — 604 1,246 Total marketable securities classified as cash equivalents 1,888 — 954 2,842 Cash, time deposits, and money market funds 6,432 117 8,113 14,662 Total cash and cash equivalents $ 8,320 $ 117 $ 9,067 $ 17,504 Marketable securities U.S. government 1 $ 2,930 $ — $ 195 $ 3,125 U.S. government agencies 2 1,548 — 210 1,758 Non-U.S. government and agencies 2 4,217 — 2,408 6,625 Corporate debt 2 4,802 — 193 4,995 Equities (a) 1 81 — — 81 Other marketable securities 2 273 — 290 563 Total marketable securities $ 13,851 $ — $ 3,296 $ 17,147 Restricted cash $ 15 $ 21 $ 139 $ 175 Cash, cash equivalents, and restricted cash in held-for-sale assets $ — $ — $ 62 $ 62 March 31, 2020 Fair Value Level Automotive Mobility Ford Credit Consolidated Cash and cash equivalents U.S. government 1 $ 3,150 $ — $ 825 $ 3,975 U.S. government agencies 2 3,024 — 200 3,224 Non-U.S. government and agencies 2 795 — 378 1,173 Corporate debt 2 480 — 598 1,078 Total marketable securities classified as cash equivalents 7,449 — 2,001 9,450 Cash, time deposits, and money market funds 8,799 95 7,627 16,521 Total cash and cash equivalents $ 16,248 $ 95 $ 9,628 $ 25,971 Marketable securities U.S. government 1 $ 4,772 $ — $ 294 $ 5,066 U.S. government agencies 2 3,985 — 160 4,145 Non-U.S. government and agencies 2 3,787 — 1,520 5,307 Corporate debt 2 5,094 — 199 5,293 Equities (a) 1 41 — — 41 Other marketable securities 2 267 — 280 547 Total marketable securities $ 17,946 $ — $ 2,453 $ 20,399 Restricted cash $ 18 $ 21 $ 150 $ 189 Cash, cash equivalents, and restricted cash in held-for-sale assets $ — $ — $ — $ — __________ (a) Net unrealized gains/losses incurred during the reporting periods on equity securities still held at December 31, 2019 and March 31, 2020 were a $44 million loss and a $38 million loss , respectively. NOTE 7. CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES (Continued) The cash equivalents and marketable securities accounted for as available-for-sale (“AFS”) securities were as follows (in millions): December 31, 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 $ 2,839 $ 11 $ (1 ) $ 2,849 $ 1,028 $ 1,772 $ 49 U.S. government agencies 1,445 2 (1 ) 1,446 830 589 27 Non-U.S. government and agencies 3,925 20 (1 ) 3,944 1,546 2,398 — Corporate debt 5,029 53 — 5,082 1,837 3,245 — Other marketable securities 230 1 — 231 — 149 82 Total $ 13,468 $ 87 $ (3 ) $ 13,552 $ 5,241 $ 8,153 $ 158 March 31, 2020 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 $ 2,598 $ 71 $ — $ 2,669 $ 574 $ 2,033 $ 62 U.S. government agencies 1,329 14 — 1,343 444 822 77 Non-U.S. government and agencies 3,625 55 (1 ) 3,679 1,594 2,085 — Corporate debt 5,197 23 (55 ) 5,165 1,845 3,293 27 Other marketable securities 227 — (4 ) 223 — 153 70 Total $ 12,976 $ 163 $ (60 ) $ 13,079 $ 4,457 $ 8,386 $ 236 Sales proceeds and gross realized gains/losses from the sale of AFS securities for the periods ended March 31 were as follows (in millions): First Quarter 2019 2020 Automotive Sales proceeds $ 1,142 $ 1,865 Gross realized gains 2 7 Gross realized losses 5 7 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 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, 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 $ (1 ) $ 50 $ — $ 233 $ (1 ) U.S. government agencies 370 (1 ) 344 — 714 (1 ) Non-U.S. government and agencies 463 — 390 (1 ) 853 (1 ) Corporate debt 29 — 53 — 82 — Other marketable securities 59 — 17 — 76 — Total $ 1,104 $ (2 ) $ 854 $ (1 ) $ 1,958 $ (3 ) March 31, 2020 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 $ — $ — $ — $ — $ — $ — U.S. government agencies 70 — 42 — 112 — Non-U.S. government and agencies 377 (1 ) 25 — 402 (1 ) Corporate debt 2,023 (54 ) 24 (1 ) 2,047 (55 ) Other marketable securities 160 (3 ) 20 (1 ) 180 (4 ) Total $ 2,630 $ (58 ) $ 111 $ (2 ) $ 2,741 $ (60 ) We determine credit losses on cash equivalents and marketable securities using the specific identification method. During the first quarter of 2020 , we did not recognize any credit loss. The unrealized losses on securities are due to changes in interest rates and market liquidity. 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, March 31, Cash and cash equivalents $ 17,504 $ 25,971 Restricted cash (a) 175 189 Cash, cash equivalents, and restricted cash in held-for-sale assets 62 — Total cash, cash equivalents, and restricted cash $ 17,741 $ 26,160 __________ (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) | 3 Months Ended |
Mar. 31, 2020 | |
Receivables [Abstract] | |
FORD CREDIT FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES | FORD CREDIT FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES 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 are recorded at the time of origination or purchase at fair value and are subsequently reported at amortized cost, net of any allowance for credit losses. 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. Ford Credit finance receivables, net were as follows (in millions): December 31, March 31, Consumer Retail installment contracts, gross $ 68,905 $ 66,116 Finance leases, gross 8,566 8,107 Retail financing, gross 77,471 74,223 Unearned interest supplements (3,589 ) (3,402 ) Consumer finance receivables 73,882 70,821 Non-Consumer Dealer financing 33,985 36,440 Non-Consumer finance receivables 33,985 36,440 Total recorded investment $ 107,867 $ 107,261 Recorded investment in finance receivables $ 107,867 $ 107,261 Allowance for credit losses (513 ) (1,231 ) Finance receivables, net $ 107,354 $ 106,030 Current portion $ 53,651 $ 54,889 Non-current portion 53,703 51,141 Total finance receivables, net $ 107,354 $ 106,030 Net finance receivables subject to fair value (a) $ 99,168 $ 98,332 Fair value (b) 99,297 98,513 __________ (a) Net finance receivables subject to fair value exclude finance leases. (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. Financing revenue from finance leases for the first quarter of 2019 and 2020 was $92 million and $95 million , respectively, and is included in Ford Credit revenues on our consolidated income statement. At December 31, 2019 and March 31, 2020 , accrued interest was $251 million and $239 million , respectively, which we report in Other assets in the current assets section of our consolidated balance sheet. Included in the recorded investment in finance receivables at December 31, 2019 and March 31, 2020 , were consumer receivables of $38.3 billion and $37 billion , respectively, and non-consumer receivables of $26.8 billion and $25.7 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. The value of finance receivables considered held for sale at December 31, 2019 was $1.5 billion , primarily made up of $1.2 billion of Forso Nordic AB (“Forso”) finance receivables. At March 31, 2020, there were $36 million of certain wholesale finance receivables specifically identified as held for sale. These held-for-sale values are reported in Assets held for sale on our consolidated balance sheet. See Note 17 for more information. NOTE 8. FORD CREDIT FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (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. The credit quality analysis of consumer receivables at December 31, 2019 was as follows (in millions): Total Consumer 31 - 60 days past due $ 839 61 - 120 days past due 166 Greater than 120 days past due 35 Total past due 1,040 Current 72,842 Total $ 73,882 The credit quality analysis of consumer receivables at March 31, 2020 was as follows (in millions): Amortized Cost Basis by Origination Year Prior to 2016 2016 2017 2018 2019 2020 Total Consumer 31 - 60 days past due $ 79 $ 95 $ 139 $ 185 $ 143 $ 10 $ 651 61 - 120 days past due 13 21 36 43 35 1 149 Greater than 120 days past due 16 7 6 6 2 — 37 Total past due 108 123 181 234 180 11 837 Current 2,181 5,080 11,048 19,267 26,210 6,198 69,984 Total $ 2,289 $ 5,203 $ 11,229 $ 19,501 $ 26,390 $ 6,209 $ 70,821 Non-Consumer Portfolio. Ford Credit uses a proprietary model to assign each dealer a risk rating. This model uses historical dealer performance data to identify key factors about a dealer that are considered most significant in predicting a dealer’s ability to meet its financial obligations. Ford Credit also considers numerous other financial and qualitative factors of the dealer’s operations, including capitalization and leverage, liquidity and cash flow, profitability, and credit history with Ford Credit and other creditors. The credit quality of dealer financing receivables is evaluated based on an internal dealer risk rating analysis. 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. NOTE 8. FORD CREDIT FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Continued) The credit quality analysis of dealer financing receivables at December 31, 2019 was as follows (in millions): Total Dealer financing Group I $ 26,281 Group II 5,407 Group III 2,108 Group IV 189 Total (a) $ 33,985 __________ (a) Total past due dealer financing receivables at December 31, 2019 were $62 million . The credit quality analysis of dealer financing receivables at March 31, 2020 was as follows (in millions): Amortized Cost Basis by Origination Year Wholesale Loans Dealer Loans Prior to 2016 2016 2017 2018 2019 2020 Total Total Group I $ 676 $ 147 $ 154 $ 276 $ 120 $ 122 $ 1,495 $ 26,774 $ 28,269 Group II 31 30 28 14 24 45 172 5,886 6,058 Group III 9 — 4 17 22 17 69 1,943 2,012 Group IV 2 1 — — 2 4 9 92 101 Total (a) $ 718 $ 178 $ 186 $ 307 $ 168 $ 188 $ 1,745 $ 34,695 $ 36,440 __________ (a) Total past due dealer financing receivables at March 31, 2020 were $34 million . Non-Accrual of Revenue. The accrual of financing revenue is discontinued at the time a receivable is determined to be uncollectible or when it is 90 days past due. Accounts may be restored to accrual status only when a customer settles all past-due deficiency balances and future payments are reasonably assured. For receivables in non-accrual status, subsequent financing revenue is recognized only to the extent a payment is received. Payments are generally applied first to outstanding interest and then to the unpaid principal balance. Troubled Debt Restructuring (“TDR”). A restructuring of debt constitutes a TDR if a concession is granted to a debtor for economic or legal reasons related to the debtor’s financial difficulties that Ford Credit otherwise would not consider. Consumer and non-consumer receivables that have a modified interest rate below market rate or that were modified in reorganization proceedings pursuant to the U.S. Bankruptcy Code, except non-consumer receivables that are current with minimal risk of loss, are considered to be TDRs. Ford Credit does not grant concessions on the principal balance of the receivables. If a receivable is modified in a reorganization proceeding, all payment requirements of the reorganization plan need to be met before remaining balances are forgiven. Ford Credit has offered several programs to provide relief to customers and dealers during the COVID-19 pandemic. These programs, which were broadly available to customers and dealers, included payment extensions. Ford Credit concluded that these programs did not meet TDR criteria. NOTE 8. FORD CREDIT FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Continued) Allowance for Credit Losses The allowance for credit losses represents an estimate of the lifetime expected credit losses inherent in finance receivables as of the balance sheet date. Additions to the allowance for credit losses are made by recording charges to Ford Credit interest, operating, and other expenses on our consolidated income statement. The uncollectible portion of finance receivables are charged to the allowance for credit losses at the earlier of when an account is deemed to be uncollectible or when an account is 120 days delinquent, taking into consideration the financial condition of the customer or borrower, the value of the collateral, recourse to guarantors, and other factors . Charge-offs on finance receivables include uncollected amounts related to principal, interest, late fees, and other allowable charges. Recoveries on finance receivables previously charged off as uncollectible are credited to the allowance for credit losses. In the event Ford Credit repossesses the collateral, the receivable is charged off and the collateral is recorded at its estimated fair value less costs to sell and reported in Other assets on our consolidated balance sheet. Consumer Portfolio Receivables in this portfolio include products offered to individuals and businesses that finance the acquisition of Ford and Lincoln vehicles from dealers for personal or commercial use. Retail financing includes retail installment contracts for new and used vehicles and finance leases with retail customers, government entities, daily rental companies, and fleet customers. For consumer receivables that share similar risk characteristics such as product type, initial credit risk, term, vintage, geography, and other relevant factors, Ford Credit estimates the lifetime expected credit loss allowance based on a collective assessment using measurement models and management judgment. The lifetime expected credit losses for the receivables is determined by applying probability of default and loss given default models to monthly expected exposures, then discounting these cash flows to present value using the receivable’s original effective interest rate or the current effective interest rate for a variable rate receivable. Probability of default models are developed from internal risk scoring models taking into account the expected probability of payment and time to default, adjusted for macroeconomic outlook and recent performance. The models consider factors such as risk evaluation at the time of origination, historical trends in credit losses (which include the impact of TDRs), and the composition and recent performance of the present portfolio (including vehicle brand, term, risk evaluation, and new / used vehicles). The loss given default is the percentage of the expected balance due at default that is not recoverable, taking into account the expected collateral value and trends in recoveries (including key metrics such as delinquencies, repossessions, and bankruptcies). Monthly exposures are equal to the receivables’ expected outstanding principal and interest balance. The loss allowance incorporates forward-looking macroeconomic conditions for baseline, upturn, and downturn scenarios. Three separate credit loss allowances are calculated from these scenarios. They are then probability-weighted to determine the credit loss allowance recognized in the financial statements. Ford Credit uses forecasts from a third party that revert to a long-term historical average after a reasonable and supportable forecasting period, which is specific to the particular macroeconomic variable and which varies by market. Ford Credit updates the forward-looking macroeconomic forecasts quarterly. If management does not believe these models reflect lifetime expected credit losses for the portfolio, an adjustment is made to reflect management judgment regarding observable changes in recent or expected economic trends and conditions, portfolio composition, and other relevant factors. On an ongoing basis, Ford Credit reviews its models, including macroeconomic factors, the selection of macroeconomic scenarios, and their weighting, to ensure they reflect the risk of the portfolio. NOTE 8. FORD CREDIT FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Continued) Non-Consumer Portfolio Dealer financing includes wholesale loans to dealers to finance vehicle inventory, also known as floorplan financing, as well as loans to dealers to finance working capital, improvements to dealership facilities, to finance purchase of dealership real estate, and to finance other dealer programs. Dealer financing is evaluated on an individual dealer basis by segmenting dealers by risk characteristics (such as the amount of the loans, the nature of the collateral, financial status of the dealer, and TDR modifications) to determine if an individual dealer requires a specific allowance for credit loss. If required, the allowance is based on the present value of the expected future cash flows of the dealer’s receivables discounted at the loans’ original effective interest rate or the fair value of the collateral adjusted for estimated costs to sell. For the remaining dealer financing, Ford Credit estimates an allowance for credit losses on a collective basis. Wholesale Loans. Ford Credit estimates the allowance for credit losses for wholesale loans based on historical loss-to-receivable (LTR) ratios, expected future cash flows, and the fair value of collateral. For wholesale loans with similar risk characteristics, the allowance for credit losses is estimated on a collective basis using the LTR model and management judgment. The LTR model is based on the most recent years of history. An LTR is calculated by dividing credit losses (i.e., charge-offs net of recoveries) by average net finance receivables, excluding unearned interest supplements and allowance for credit losses. The average LTR is multiplied by the end-of-period balances, representing the lifetime expected credit loss reserve. Dealer Loans. Ford Credit uses a weighted-average remaining maturity method to estimate the lifetime expected credit loss reserve for dealer loans. The loss model is based on the industry-wide commercial real estate credit losses, adjusted to factor in the historical credit losses for the dealer loans portfolio. The expected credit loss is calculated under different economic scenarios and are weighted to provide the total lifetime expected credit loss. After establishing the collective and specific allowance for credit losses, if management believes the allowance does not reflect all losses inherent in the portfolio due to changes in recent economic trends and conditions, or other relevant forward-looking economic factors, an adjustment is made based on management judgment. NOTE 8. FORD CREDIT FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Continued) An analysis of the allowance for credit losses related to finance receivables for the periods ended March 31 was as follows (in millions): First Quarter 2019 (a) Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 566 $ 23 $ 589 Charge-offs (137 ) (17 ) (154 ) Recoveries 43 2 45 Provision for credit losses 24 9 33 Other — — — Ending balance $ 496 $ 17 $ 513 First Quarter 2020 Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 496 $ 17 $ 513 Adoption of ASU 2016-13 (b) 247 5 252 Charge-offs (145 ) (1 ) (146 ) Recoveries 43 2 45 Provision for credit losses 534 52 586 Other (c) (18 ) (1 ) (19 ) Ending balance $ 1,157 $ 74 $ 1,231 __________ (a) The comparative information has not been restated and continues to be reported under the accounting standard in effect during 2019. (b) Cumulative pre-tax adjustments recorded to retained earnings as of January 1, 2020. See Note 2 for additional information. (c) Primarily represents amounts related to translation adjustments. During the first quarter of 2020, the allowance for credit losses increased $718 million reflecting an increase to the reserve of $252 million related to the adoption of ASU 2016-13 and an increase of $486 million primarily attributable to COVID-19, offset by a decrease for translation adjustments. The economic uncertainty, along with government mandated stay-at-home orders, which resulted in extensive temporary closures of businesses and drove a significant increase in unemployment, is expected to increase the probability of default and loss given default rates in the consumer portfolio over the next twelve months, especially in the United States. These economic trends and conditions are also expected to negatively impact the dealers. While we anticipate government relief programs, Ford Credit’s customer payment deferral programs, and dealer support actions to mitigate these impacts, the overall result on credit losses is expected to be adverse. |
Inventories (Notes)
Inventories (Notes) | 3 Months Ended |
Mar. 31, 2020 | |
Inventory Disclosure [Abstract] | |
INVENTORIES | INVENTORIES Inventories were as follows (in millions): December 31, March 31, Raw materials, work-in-process, and supplies $ 4,402 $ 4,598 Finished products 6,384 6,714 Total inventories $ 10,786 $ 11,312 |
Other Investments Other Investm
Other Investments Other Investments (Notes) | 3 Months Ended |
Mar. 31, 2020 | |
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 $1.2 billion at both December 31, 2019 and March 31, 2020 . In the first quarter of 2020 , there were no material adjustments to the fair values of these investments held at March 31, 2020 . |
Goodwill (Notes)
Goodwill (Notes) | 3 Months Ended |
Mar. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill Disclosure [Text Block] | GOODWILL The net carrying amount of goodwill was $278 million at both December 31, 2019 and March 31, 2020 , and is reported in Other assets in the non-current assets section of our consolidated balance sheet. |
Other Liabilities and Deferred
Other Liabilities and Deferred Revenue (Notes) | 3 Months Ended |
Mar. 31, 2020 | |
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, March 31, Current Dealer and dealers’ customer allowances and claims $ 13,113 $ 13,257 Deferred revenue 2,091 2,111 Employee benefit plans 1,857 1,612 Accrued interest 1,128 819 OPEB (a) 332 326 Pension (a) 185 183 Operating lease liabilities 367 361 Other 3,914 4,005 Total current other liabilities and deferred revenue $ 22,987 $ 22,674 Non-current Pension (a) $ 9,878 $ 9,414 OPEB (a) 5,740 5,605 Dealer and dealers’ customer allowances and claims 1,921 2,252 Deferred revenue 4,191 4,140 Operating lease liabilities 1,047 1,006 Employee benefit plans 1,104 1,097 Other 1,443 1,591 Total non-current other liabilities and deferred revenue $ 25,324 $ 25,105 __________ (a) Balances at March 31, 2020 reflect pension and OPEB liabilities at December 31, 2019 , updated for service and interest cost, expected return on assets, curtailment and settlement gains 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 2019 . Included in Other assets are pension assets of $3.2 billion and $3.4 billion at December 31, 2019 and March 31, 2020 , respectively. |
Retirement Benefits (Notes)
Retirement Benefits (Notes) | 3 Months Ended |
Mar. 31, 2020 | |
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 March 31 were as follows (in millions): First Quarter Pension Benefits U.S. Plans Non-U.S. Plans Worldwide OPEB 2019 2020 2019 2020 2019 2020 Service cost $ 114 $ 130 $ 129 $ 131 $ 11 $ 12 Interest cost 409 323 176 133 53 43 Expected return on assets (649 ) (699 ) (286 ) (267 ) — — Amortization of prior service costs/(credits) 22 1 8 9 (18 ) (4 ) Net remeasurement (gain)/loss — — — (80 ) — 58 Separation programs/other 1 10 12 24 — (1 ) Settlements and curtailments — — — 1 — (2 ) Net periodic benefit cost/(income) $ (103 ) $ (235 ) $ 39 $ (49 ) $ 46 $ 106 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 expense of $13 million and $24 million in the first quarter of 2019 and 2020 , respectively, related to separation programs. In addition, in the first quarter , we recognized settlements and curtailments, which required plan remeasurements at current discount rates, asset returns, and economic conditions. This resulted in remeasurement gain of $22 million in the first quarter of 2020 . Until our global redesign actions are completed, we anticipate further adjustments to our plans in subsequent periods. Pension Plan Contributions During 2020 , we expect to contribute between $500 million and $700 million of cash to our global funded pension plans. We also expect to make about $350 million of benefit payments to participants in unfunded plans. In the first quarter of 2020 , we contributed $175 million to our worldwide funded pension plans and made $86 million of benefit payments to participants in unfunded plans. |
Debt (Notes)
Debt (Notes) | 3 Months Ended |
Mar. 31, 2020 | |
Debt Disclosure [Abstract] | |
DEBT | DEBT The carrying value of Automotive, Ford Credit, and Other debt was as follows (in millions): December 31, March 31, Automotive Debt payable within one year Short-term $ 315 $ 569 Long-term payable within one year U.S. Department of Energy Advanced Technology Vehicles Manufacturing (“DOE ATVM”) Incentive Program 591 591 Other debt 540 450 Unamortized (discount)/premium (1 ) (1 ) Total debt payable within one year 1,445 1,609 Long-term debt payable after one year Public unsecured debt securities 10,583 10,583 Credit facilities (a) — 15,068 Delayed draw term loan 1,500 1,500 DOE ATVM Incentive Program 880 732 Other debt 547 800 Unamortized (discount)/premium (161 ) (157 ) Unamortized issuance costs (116 ) (115 ) Total long-term debt payable after one year 13,233 28,411 Total Automotive $ 14,678 $ 30,020 Fair value of Automotive debt (b) $ 15,606 $ 22,877 Ford Credit Debt payable within one year Short-term $ 13,717 $ 12,424 Long-term payable within one year Unsecured debt 15,062 17,137 Asset-backed debt 23,609 21,736 Unamortized (discount)/premium 1 2 Unamortized issuance costs (17 ) (19 ) Fair value adjustments (c) (1 ) 23 Total debt payable within one year 52,371 51,303 Long-term debt payable after one year Unsecured debt 55,148 51,138 Asset-backed debt 32,162 32,973 Unamortized (discount)/premium 6 4 Unamortized issuance costs (197 ) (188 ) Fair value adjustments (c) 539 1,606 Total long-term debt payable after one year 87,658 85,533 Total Ford Credit $ 140,029 $ 136,836 Fair value of Ford Credit debt (b) $ 141,678 $ 128,714 Other Long-term debt payable within one year $ 130 $ — Long-term debt payable after one year Unsecured debt 474 474 Unamortized (discount)/premium (3 ) (3 ) Unamortized issuance costs (1 ) (1 ) Total long-term debt payable after one year 470 470 Total Other $ 600 $ 470 Fair value of Other debt $ 720 $ 448 __________ (a) We drew $15.4 billion under our corporate credit facility and supplemental revolving credit facility in the first quarter of 2020, and received $15.1 billion as of March 31, 2020, and the remaining $300 million on April 8, 2020. (b) The fair value of debt includes $315 million and $569 million of Automotive short-term debt and $12.8 billion and $11.3 billion of Ford Credit short-term debt at December 31, 2019 and March 31, 2020 , respectively, carried at cost, which approximates fair value. All debt is categorized within Level 2 of the fair value hierarchy. (c) These adjustments relate to fair value hedges. The carrying value of hedged debt was $39.4 billion and $41.6 billion at December 31, 2019 and March 31, 2020 , respectively. |
Derivative Financial Instrument
Derivative Financial Instruments and Hedging Activities (Notes) | 3 Months Ended |
Mar. 31, 2020 | |
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 March 31 were as follows (in millions): First Quarter Cash flow hedges (a) 2019 2020 Reclassified from AOCI to Cost of sales Foreign currency exchange contracts $ 54 $ (70 ) Commodity contracts (5 ) (14 ) Fair value hedges Interest rate contracts Net interest settlements and accruals on hedging instruments (20 ) 28 Fair value changes on hedging instruments 250 1,110 Fair value changes on hedged debt (253 ) (1,093 ) Derivatives not designated as hedging instruments Foreign currency exchange contracts (b) (28 ) 586 Cross-currency interest rate swap contracts (145 ) (151 ) Interest rate contracts (27 ) (74 ) Commodity contracts 11 (43 ) Total $ (163 ) $ 279 __________ (a) For the first quarter of 2019 and 2020 , a $521 million loss and an $897 million gain , respectively, were reported in Other comprehensive income/(loss), net of tax related to foreign currency exchange contracts. For the first quarter of 2019 and 2020 , an $11 million gain and a $101 million loss , respectively, were reported in Other comprehensive income/(loss), net of tax related to commodity contracts. (b) For the first quarter of 2019 and 2020 , a $22 million loss and a $376 million gain were reported in Cost of sales and a $6 million loss and a $210 million gain were reported in Other income/(loss), net, respectively. NOTE 15. 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 were as follows (in millions): December 31, 2019 March 31, 2020 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 $ 15,349 $ 47 $ 493 $ 13,148 $ 606 $ 168 Commodity contracts 673 5 29 665 — 108 Fair value hedges Interest rate contracts 26,577 702 19 23,663 1,549 — Derivatives not designated as hedging instruments Foreign currency exchange contracts 19,350 58 270 17,509 476 130 Cross-currency interest rate swap contracts 5,849 134 67 5,938 126 238 Interest rate contracts 68,914 275 191 72,822 651 561 Commodity contracts 467 9 9 474 1 46 Total derivative financial instruments, gross (a) (b) $ 137,179 $ 1,230 $ 1,078 $ 134,219 $ 3,409 $ 1,251 Current portion $ 390 $ 772 $ 1,388 $ 759 Non-current portion 840 306 2,021 492 Total derivative financial instruments, gross $ 1,230 $ 1,078 $ 3,409 $ 1,251 __________ (a) At December 31, 2019 and March 31, 2020 , we held collateral of $18 million and $23 million , and we posted collateral of $78 million and $86 million , respectively. (b) At December 31, 2019 and March 31, 2020 , the fair value of assets and liabilities available for counterparty netting was $269 million and $841 million , respectively . |
Employee Separation Actions and
Employee Separation Actions and Exit and Disposal Activities (Notes) | 3 Months Ended |
Mar. 31, 2020 | |
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 Global Redesign As previously 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. In February 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 ceased production at the São Bernardo do Campo plant in Brazil during 2019. Russia. In March 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 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 completion of the restructuring actions, in July 2019, Ford sold a 51% controlling interest in the restructured entity to Sollers, which resulted in deconsolidation of the Ford Sollers subsidiary. Our continued involvement in Ford Sollers is accounted for as an equity method investment. United Kingdom. In June 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. India. In the third quarter of 2019, Ford committed to a plan to sell specific net assets in our India Automotive operations. See Note 17 for more information concerning this plan. 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 for the periods ended March 31 , which are recorded in Other liabilities and deferred revenue (in millions): First Quarter 2019 2020 Beginning balance $ 291 $ 734 Changes in accruals (a) 267 68 Payments (136 ) (172 ) Foreign currency translation (8 ) (29 ) Ending balance $ 414 $ 601 __________ (a) Excludes pension costs of $13 million and $24 million in the first quarter of 2019 and 2020 , respectively. NOTE 16. EMPLOYEE SEPARATION ACTIONS AND EXIT AND DISPOSAL ACTIVITIES (Continued) We also recorded $251 million and $14 million in the first quarter of 2019 and 2020 , respectively, for accelerated depreciation and other non-cash items. We estimate that we will incur total charges in 2020 that range between $700 million and $1.2 billion related to the actions above, primarily attributable to employee separations, accelerated depreciation, and dealer and supplier settlements. Other Actions United Automobile, Aerospace and Agricultural Implement Workers of America (“UAW”) Voluntary Separation Packages. As agreed in the collective bargaining agreement ratified in November 2019, during the first quarter of 2020, we offered voluntary separation packages to our UAW hourly workforce who were eligible for normal or early retirement. All separations are expected to occur before the end of the year. The costs associated with this action were $201 million and are recorded in Cost of sales . |
Held-for-Sale Operations (Notes
Held-for-Sale Operations (Notes) | 3 Months Ended |
Mar. 31, 2020 | |
Held for Sale Operations Automotive Segment [Abstract] | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | HELD-FOR-SALE OPERATIONS Automotive Segment In the third quarter of 2019, we committed to a plan to sell specific net assets in our India Automotive operations. We entered into a definitive agreement to form a joint venture with Mahindra & Mahindra Limited (“Mahindra”), with Mahindra owning a 51% controlling stake and Ford owning a 49% stake. Under the terms of the transaction, which is expected to close mid-2020, we will sell certain India Automotive operations to the joint venture. Accordingly, we have reported the assets and liabilities of these operations as held for sale and ceased depreciation and amortization of those assets. The assets and liabilities of our India Automotive operations classified as held for sale were as follows (in millions): December 31, March 31, Assets Trade and other receivables, net $ 269 $ 186 Inventories 208 261 Other assets, current 147 96 Net property 279 263 Other assets, non-current 10 9 Total assets of held-for-sale operations 913 815 Less: Intercompany asset balances (228 ) (151 ) Automotive segment total assets of held-for-sale operations (a) $ 685 $ 664 Liabilities Payables $ 461 $ 473 Other liabilities and deferred revenue, current 71 68 Automotive debt payable within one year 90 84 Other liabilities and deferred revenue, non-current 28 25 Total liabilities of held-for-sale operations 650 650 Less: Intercompany liability balances (169 ) (181 ) Automotive segment total liabilities of held-for-sale operations (a) $ 481 $ 469 __________ (a) As of December 31, 2019 and March 31, 2020 , intercompany items and transactions have been eliminated on the consolidated balance sheet. Upon closing, the buyer will assume the intercompany assets and liabilities. Accordingly, we have presented those balances in the table for informational purposes. NOTE 17. HELD-FOR-SALE OPERATIONS (Continued) We recognized pre-tax impairment charges of $804 million in 2019 and $3 million in the first quarter of 2020 to adjust the carrying value of the held-for-sale assets to fair value less cost to sell. These charges are reported in Cost of sales . The value is measured on a nonrecurring basis and categorized within Level 3 of the fair value hierarchy. We determined fair value using a market approach, estimated based on expected proceeds to be received, which we conclude is most representative of the value of the assets given the current market conditions, the characteristics of viable market participants, and the pending sales transaction. The transaction is subject to regulatory approvals and satisfaction of other closing conditions that may impact the final proceeds received. Ford Credit Segment In the fourth quarter of 2019, Ford Credit committed to a plan to sell its operations in Forso, a wholly owned subsidiary of Ford Credit, which provides retail and dealer financing in Denmark, Finland, Norway, and Sweden. As a result, we classified the assets and liabilities of these operations as held for sale and recognized a pre-tax fair value impairment charge of $20 million , reported in Other income/(loss), net , in the fourth quarter of 2019. The assets and liabilities of the Forso operations classified as held for sale at December 31, 2019 were as follows (in millions): December 31, Assets Cash and cash equivalents $ 61 Ford Credit finance receivables, net, current 516 Trade and other receivables, net 8 Other assets, current 106 Ford Credit finance receivables, net, non-current 715 Net property 2 Deferred income taxes 9 Other assets, non-current 1 Total assets of held-for-sale operations 1,418 Less: Intercompany asset balances (2 ) Ford Credit segment total assets of held-for-sale operations (a) $ 1,416 Liabilities Payables $ 34 Other liabilities and deferred revenue, current 8 Ford Credit long-term debt 1,254 Deferred income taxes 23 Total liabilities of held-for-sale operations 1,319 Less: Intercompany liability balances (1,274 ) Ford Credit segment total liabilities of held-for-sale operations (a) $ 45 __________ (a) As of December 31, 2019 , intercompany items and transactions have been eliminated on the consolidated balance sheet. Upon closing, the buyer assumed the intercompany assets and liabilities. Accordingly, we have presented those balances in the table for informational purposes. On February 28, 2020, Ford Credit completed the sale of Forso recognizing a pre-tax loss of $4 million , reported in Other income/(loss ) , net , and cash proceeds of $1.3 billion . |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income/(Loss) (Notes) | 3 Months Ended |
Mar. 31, 2020 | |
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 March 31 were as follows (in millions): First Quarter 2019 2020 Foreign currency translation Beginning balance $ (4,800 ) $ (4,626 ) Gains/(Losses) on foreign currency translation 271 (1,406 ) Less: Tax/(Tax benefit) 28 27 Net gains/(losses) on foreign currency translation 243 (1,433 ) (Gains)/Losses reclassified from AOCI to net income (a) — (20 ) Other comprehensive income/(loss), net of tax 243 (1,453 ) Ending balance $ (4,557 ) $ (6,079 ) Marketable securities Beginning balance $ (59 ) $ 71 Gains/(Losses) on available for sale securities 80 19 Less: Tax/(Tax benefit) 19 5 Net gains/(losses) on available for sale securities 61 14 (Gains)/Losses reclassified from AOCI to net income 3 — Less: Tax/(Tax benefit) 1 — Net (gains)/losses reclassified from AOCI to net income 2 — Other comprehensive income/(loss), net of tax 63 14 Ending balance $ 4 $ 85 Derivative instruments Beginning balance $ 201 $ (488 ) Gains/(Losses) on derivative instruments (510 ) 796 Less: Tax/(Tax benefit) (102 ) 173 Net gains/(losses) on derivative instruments (408 ) 623 (Gains)/Losses reclassified from AOCI to net income (49 ) 84 Less: Tax/(Tax benefit) (11 ) 15 Net (gains)/losses reclassified from AOCI to net income (b) (38 ) 69 Other comprehensive income/(loss), net of tax (446 ) 692 Ending balance $ (245 ) $ 204 Pension and other postretirement benefits Beginning balance $ (2,708 ) $ (2,685 ) Amortization and recognition of prior service costs/(credits) 12 4 Less: Tax/(Tax benefit) 2 1 Net prior service costs/(credits) reclassified from AOCI to net income 10 3 Translation impact on non-U.S. plans (5 ) 11 Other comprehensive income/(loss), net of tax 5 14 Ending balance $ (2,703 ) $ (2,671 ) Total AOCI ending balance at March 31 $ (7,501 ) $ (8,461 ) __________ (a) Reclassified to Other income/(loss), net. (b) Reclassified to Cost of sales . During the next twelve months we expect to reclassify existing net gains on cash flow hedges of $147 million . See Note 15 for additional information. |
Commitments and Contingencies (
Commitments and Contingencies (Notes) | 3 Months Ended |
Mar. 31, 2020 | |
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 and field service actions. Guarantees and Indemnifications Financial Guarantees. Financial guarantees and indemnifications are recorded at fair value at their inception. Subsequent to initial recognition, the guarantee liability is adjusted at each reporting period to reflect the current estimate of expected payments resulting from possible default events over the remaining life of the guarantee. The probability of default is applied to the expected exposure at the time of default less recoveries to determine the expected payments. Factors to consider when estimating the probability of default include the obligor’s financial position, forecasted economic environment, historical loss rates, and other communications. The liability recorded represents Ford’s exposure to credit risk. The maximum potential payments for financial guarantees were $162 million and $427 million at December 31, 2019 and March 31, 2020 , respectively. The carrying value of recorded liabilities related to financial guarantees was $33 million and $49 million at December 31, 2019 and March 31, 2020 , respectively. Our financial guarantees consist of 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. Non-Financial Guarantees. Non-financial 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. The maximum potential payments for non-financial guarantees were $587 million and $678 million at December 31, 2019 and March 31, 2020 , respectively. The carrying value of recorded liabilities related to non-financial guarantees was $200 million and $253 million at December 31, 2019 and March 31, 2020 , respectively. We guarantee the resale value of vehicles sold in certain arrangements to daily rental companies. The maximum potential payment of $673 million as of March 31, 2020 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 $252 million as our best estimate of the amount we will have to pay under the guarantee. 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. NOTE 19. COMMITMENTS AND CONTINGENCIES (Continued) Litigation and Claims Various legal actions, proceedings, and claims (generally, “matters”) are pending or may be instituted or asserted against us. These include, but are not limited to, matters arising out of alleged defects in our products; product warranties; governmental regulations relating to safety, emissions, and fuel economy or other matters; government incentives; tax matters; alleged illegal acts resulting in fines or penalties; financial services; employment-related matters; dealer, supplier, and other contractual relationships; intellectual property rights; environmental matters; shareholder or investor matters; and financial reporting matters. Certain of the pending legal actions are, or purport to be, class actions. Some of the matters involve or may involve claims for compensatory, punitive, or antitrust or other treble damages in very large amounts, or demands for field service actions, environmental remediation programs, sanctions, loss of government incentives, assessments, or other relief, which, if granted, would require very large expenditures. The extent of our financial exposure to these matters is difficult to estimate. Many matters do not specify a dollar amount for damages, and many others specify only a jurisdictional minimum. To the extent an amount is asserted, our historical experience suggests that in most instances the amount asserted is not a reliable indicator of the ultimate outcome. We accrue for matters when losses are deemed probable and reasonably estimable. In evaluating matters for accrual and disclosure purposes, we take into consideration factors such as our historical experience with matters of a similar nature, the specific facts and circumstances asserted, the likelihood that we will prevail, and the severity of any potential loss. We reevaluate and update our accruals as matters progress over time. 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 $400 million . In addition, we have a reasonably possible risk of loss for an emission certification 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. NOTE 19. COMMITMENTS AND CONTINGENCIES (Continued) Warranty and Field Service Actions We accrue the estimated cost of both base warranty coverages and field service actions at the time of sale. We establish our estimate of base warranty obligations using a patterned estimation model, using historical information regarding the nature, frequency, and average cost of claims for each vehicle line by model year. We establish our estimates of field service action obligations using a patterned estimation model, using historical information regarding the nature, frequency, severity, and average cost of claims for each model year. In addition, from time to time, we issue extended warranties at our expense, the estimated cost of which is accrued at the time of issuance. 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, net and Other assets. The estimate of our future warranty and field service action costs, net of estimated supplier recoveries, for the periods ended March 31 was as follows (in millions): First Quarter 2019 2020 Beginning balance $ 5,137 $ 5,702 Payments made during the period (1,074 ) (1,075 ) Changes in accrual related to warranties issued during the period 693 805 Changes in accrual related to pre-existing warranties 271 521 Foreign currency translation and other 7 (164 ) Ending balance $ 5,034 $ 5,789 Changes 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) | 3 Months Ended |
Mar. 31, 2020 | |
Segment Reporting [Abstract] | |
SEGMENT INFORMATION | SEGMENT INFORMATION We report segment information consistent with the way our chief operating decision maker evaluates the operating results and performance of the Company. Accordingly, we analyze the results of our business through the following segments: Automotive, Mobility, and Ford Credit. 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 (including Taiwan), and the International Markets Group. 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. 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 gains and losses from our cash, cash equivalents, marketable securities, and other investments, 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 20. SEGMENT INFORMATION (Continued) Key financial information for the periods ended or at March 31 was as follows (in millions): Automotive Mobility Ford Credit Corporate Other Interest on Debt Special Items Adjustments Total First Quarter 2019 Revenues $ 37,239 $ 6 $ 3,097 $ — $ — $ — $ — $ 40,342 Income/(loss) before income taxes 2,009 (288 ) 801 (75 ) (245 ) (592 ) — 1,610 Equity in net income/(loss) of affiliated companies 17 2 6 — — — — 25 Cash, cash equivalents, marketable securities, and restricted cash 24,034 167 13,700 — — — — 37,901 Total assets 102,113 949 164,409 — — — (4,190 ) (a) 263,281 First Quarter 2020 Revenues $ 31,340 $ 13 $ 2,967 $ — $ — $ — $ — $ 34,320 Income/(loss) before income taxes (177 ) (334 ) 30 (151 ) (227 ) (287 ) — (1,146 ) Equity in net income/(loss) of affiliated companies (47 ) — 6 — — — — (41 ) Cash, cash equivalents, marketable securities, and restricted cash 34,212 116 12,231 — — — — 46,559 Total assets 111,388 941 156,393 — — — (4,572 ) (a) 264,150 __________ (a) Includes eliminations of intersegment transactions occurring in the ordinary course of business and deferred tax netting. |
Subsequent Event (Notes)
Subsequent Event (Notes) | 3 Months Ended |
Mar. 31, 2020 | |
Debt Instrument [Line Items] | |
Schedule of Long-term Debt Instruments [Table Text Block] | SUBSEQUENT EVENT In late March 2020, we suspended our manufacturing operations in regions around the world, other than China, and these operations continue to be idle. Our key liquidity objective during these unprecedented and uncertain times is to prioritize actions that preserve or improve our cash balance until we are able to resume and sustain normal production and generate revenue. To further increase our liquidity, on April 22, 2020, we issued $8 billion of unsecured notes, consisting of $3.5 billion of three -year 8.5% unsecured notes, $3.5 billion of 9% five -year unsecured notes, and $1 billion of 9.625% ten -year unsecured notes. The full impact of the COVID-19 pandemic on our full year financial results will depend on future developments, such as the ultimate duration and scope of the outbreak, its impact on our customers, dealers, and suppliers, the rate at which economic conditions, operations, and demand for our products return to pre-COVID-19 levels, and the potential for recession in key markets due to the effects of the pandemic. Accordingly, the ultimate impact on Ford cannot be determined at this time. Nevertheless, despite the uncertainty of the COVID-19 situation, we expect our full year 2020 results of operations to be adversely affected. |
Presentation Presentation (Poli
Presentation Presentation (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block] | |
Basis of Accounting, Policy [Policy Text Block] | Our consolidated financial statements are presented in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information, instructions to the Quarterly Report on Form 10-Q, and Rule 10-01 of Regulation S-X. |
New Accounting Standards New Ac
New Accounting Standards New Accounting Standards (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Standards Update (“ASU”) 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments . On January 1, 2020, we adopted the new credit loss standard and all of the related amendments, which replaced the incurred loss impairment method with a method that reflects lifetime expected credit losses. We adopted the changes in accounting for credit losses by recognizing the cumulative effect of initially applying the new credit loss 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 accounting standard in effect for those periods. |
Revenue Revenue (Policies)
Revenue Revenue (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Revenue [Policy Text Block] | The amount of consideration we receive and revenue we recognize on our vehicles, parts, and accessories varies with changes in return rights and marketing incentives we offer to our customers and their customers. Estimates of marketing incentives are based on expected retail and fleet sales volumes, mix of products to be sold, and incentive programs to be offered. Customer acceptance of products and programs, as well as other market conditions, will impact these estimates. As a result of changes in our estimate of marketing incentives, we recorded a decrease related to revenue recognized in prior periods of $481 million and $885 million in the first quarter of 2019 and 2020 , respectively. The change in estimate for the first quarter of 2020 includes additional marketing incentives offered to customers in connection with market conditions affected by the COVID-19 pandemic. |
Income Taxes Income Taxes (Poli
Income Taxes Income Taxes (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Tax, Policy [Policy Text Block] |
Cash, Cash Equivalents, and M_2
Cash, Cash Equivalents, and Marketable Securities Cash, Cash Equivalents, and Marketable Securities (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Cash, Cash Equivalents, and Marketable Securities [Abstract] | |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and cash equivalents are highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of change in value due to interest rate, quoted price, or penalty on withdrawal. A debt security is classified as a cash equivalent if it meets these criteria and if it has a remaining time to maturity of three months or less from the date of acquisition. Amounts on deposit and available upon demand, or negotiated to provide for daily liquidity without penalty, are classified as cash and cash equivalents. Time deposits, certificates of deposit, and money market accounts that meet the above criteria are reported at par value on our consolidated balance sheet. |
Marketable Securities, Policy [Policy Text Block] | Investments in securities with a maturity date greater than three months at the date of purchase, and other securities for which there is more than an insignificant risk of change in value due to interest rate, quoted price, or penalty on withdrawal, are classified as marketable securities . Realized gains and losses and interest income on all of our marketable securities and unrealized gains and losses on securities not classified as available for sale are recorded in Other income/(loss), net . Unrealized gains and losses on available-for-sale securities are recognized in Unrealized gains and losses on securities , a component of Other comprehensive income/(loss), net of tax |
Ford Credit Finance Receivabl_2
Ford Credit Finance Receivables and Allowance for Credit Losses Ford Credit Finance Receivables (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Financing Receivable, Allowance for Credit Loss [Line Items] | |
Financing Receivable, Allowance for Credit Losses, Policy for Uncollectible Amounts [Policy Text Block] | Additions to the allowance for credit losses are made by recording charges to Ford Credit interest, operating, and other expenses on our consolidated income statement. The uncollectible portion of finance receivables are charged to the allowance for credit losses at the earlier of when an account is deemed to be uncollectible or when an account is 120 days delinquent, taking into consideration the financial condition of the customer or borrower, the value of the collateral, recourse to guarantors, and other factors . |
Financing Receivable [Policy Text Block] | 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 are recorded at the time of origination or purchase at fair value and are subsequently reported at amortized cost, net of any allowance for credit losses. 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. |
Other Investments Other Inves_2
Other Investments Other Investments - (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
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 |
Retirement Benefits Pension and
Retirement Benefits Pension and Other Postemployment Benefits (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
Pension and Other Postretirement Plans, Pensions, Policy [Policy Text Block] | 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. |
Derivative Financial Instrume_2
Derivative Financial Instruments and Hedging Activities Derivative Financial Instruments and Hedging Activities (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
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. |
Employee Separation Actions a_2
Employee Separation Actions and Exit and Disposal Activities (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Restructuring Charges [Abstract] | |
Costs Associated with Exit or Disposal Activities or Restructurings, Policy [Policy Text Block] | 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. |
Held-for-Sale Operations Descri
Held-for-Sale Operations Description and Timing of Sale (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Costs Associated with Exit or Disposal Activity or Restructuring [Policy Text Block] | We recognized pre-tax impairment charges of $804 million in 2019 and $3 million in the first quarter of 2020 to adjust the carrying value of the held-for-sale assets to fair value less cost to sell. These charges are reported in Cost of sales . The value is measured on a nonrecurring basis and categorized within Level 3 of the fair value hierarchy. We determined fair value using a market approach, estimated based on expected proceeds to be received, which we conclude is most representative of the value of the assets given the current market conditions, the characteristics of viable market participants, and the pending sales transaction. The transaction is subject to regulatory approvals and satisfaction of other closing conditions that may impact the final proceeds received. |
Commitments and Contingencies C
Commitments and Contingencies Commitments and Contingencies (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies, Policy [Policy Text Block] | 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. Litigation and Claims Various legal actions, proceedings, and claims (generally, “matters”) are pending or may be instituted or asserted against us. These include, but are not limited to, matters arising out of alleged defects in our products; product warranties; governmental regulations relating to safety, emissions, and fuel economy or other matters; government incentives; tax matters; alleged illegal acts resulting in fines or penalties; financial services; employment-related matters; dealer, supplier, and other contractual relationships; intellectual property rights; environmental matters; shareholder or investor matters; and financial reporting matters. Certain of the pending legal actions are, or purport to be, class actions. Some of the matters involve or may involve claims for compensatory, punitive, or antitrust or other treble damages in very large amounts, or demands for field service actions, environmental remediation programs, sanctions, loss of government incentives, assessments, or other relief, which, if granted, would require very large expenditures. The extent of our financial exposure to these matters is difficult to estimate. Many matters do not specify a dollar amount for damages, and many others specify only a jurisdictional minimum. To the extent an amount is asserted, our historical experience suggests that in most instances the amount asserted is not a reliable indicator of the ultimate outcome. We accrue for matters when losses are deemed probable and reasonably estimable. In evaluating matters for accrual and disclosure purposes, we take into consideration factors such as our historical experience with matters of a similar nature, the specific facts and circumstances asserted, the likelihood that we will prevail, and the severity of any potential loss. We reevaluate and update our accruals as matters progress over time. 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. |
Guarantees, Indemnifications and Warranties Policies [Policy Text Block] | Warranty and Field Service Actions We accrue the estimated cost of both base warranty coverages and field service actions at the time of sale. We establish our estimate of base warranty obligations using a patterned estimation model, using historical information regarding the nature, frequency, and average cost of claims for each vehicle line by model year. We establish our estimates of field service action obligations using a patterned estimation model, using historical information regarding the nature, frequency, severity, and average cost of claims for each model year. In addition, from time to time, we issue extended warranties at our expense, the estimated cost of which is accrued at the time of issuance. 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, net and Other assets. $587 million and $678 million at December 31, 2019 and March 31, 2020 , respectively. The carrying value of recorded liabilities related to non-financial guarantees was $200 million and $253 million at December 31, 2019 and March 31, 2020 , respectively. We guarantee the resale value of vehicles sold in certain arrangements to daily rental companies. The maximum potential payment of $673 million as of March 31, 2020 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 $252 million as our best estimate of the amount we will have to pay under the guarantee. In the ordinary course of business, we execute contracts involving indemnifications standard in the industry and indemnifications specific to a transaction, such as the sale of a business. These indemnifications might include and are not limited to claims relating to any of the following: environmental, tax, and shareholder matters; intellectual property rights; power generation contracts; governmental regulations and employment-related matters; dealer, supplier, and other commercial contractual relationships; and financial matters, such as securitizations. Performance under these indemnities generally would be triggered by a breach of terms of the contract or by a third-party claim. While some of these indemnifications are limited in nature, many of them do not limit potential payment. Therefore, we are unable to estimate a maximum amount of future payments that could result from claims made under these unlimited indemnities. |
Segment Information Segment Inf
Segment Information Segment Information (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Segment Reporting [Abstract] | |
Segment Reporting, Policy [Policy Text Block] | We report segment information consistent with the way our chief operating decision maker evaluates the operating results and performance of the Company. Accordingly, we analyze the results of our business through the following segments: Automotive, Mobility, and Ford Credit. 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 (including Taiwan), and the International Markets Group. 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. 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 gains and losses from our cash, cash equivalents, marketable securities, and other investments, 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. |
New Accounting Standards New _2
New Accounting Standards New Accounting Pronouncements or Change in Accounting Principle (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
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, 2020, for the adoption of ASU 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments , was as follows (in millions): Balance at December 31, 2019 Adjustments due to ASU 2016-13 Balance at January 1, 2020 Assets Ford Credit finance receivables, net, current $ 53,651 $ (69 ) $ 53,582 Trade and other receivables, net 9,237 (3 ) 9,234 Ford Credit finance receivables, net, non-current 53,703 (183 ) 53,520 Equity in net assets of affiliated companies 2,519 (7 ) 2,512 Deferred income taxes 11,863 2 11,865 Liabilities Deferred income taxes 490 (58 ) 432 Equity Retained earnings 20,320 (202 ) 20,118 |
Revenue (Tables)
Revenue (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation Of Revenue | The following table disaggregates our revenue by major source for the periods ended March 31 (in millions): First Quarter 2019 Automotive Mobility Ford Credit Consolidated Vehicles, parts, and accessories $ 35,576 $ — $ — $ 35,576 Used vehicles 1,020 — — 1,020 Extended service contracts 333 — — 333 Other revenue 213 6 51 270 Revenues from sales and services 37,142 6 51 37,199 Leasing income 97 — 1,477 1,574 Financing income — — 1,528 1,528 Insurance income — — 41 41 Total revenues $ 37,239 $ 6 $ 3,097 $ 40,342 First Quarter 2020 Automotive Mobility Ford Credit Consolidated Vehicles, parts, and accessories $ 29,841 $ — $ — $ 29,841 Used vehicles 931 — — 931 Extended service contracts 364 — — 364 Other revenue 146 13 41 200 Revenues from sales and services 31,282 13 41 31,336 Leasing income 58 — 1,459 1,517 Financing income — — 1,425 1,425 Insurance income — — 42 42 Total revenues $ 31,340 $ 13 $ 2,967 $ 34,320 |
Other Income_(Loss) (Tables)
Other Income/(Loss) (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
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 March 31 were as follows (in millions): First Quarter 2019 2020 Net periodic pension and OPEB income/(cost), excluding service cost $ 272 $ 451 Investment-related interest income 203 162 Interest income/(expense) on income taxes (20 ) (23 ) Realized and unrealized gains/(losses) on cash equivalents, marketable securities, and other investments 67 (32 ) Gains/(Losses) on changes in investments in affiliates 3 15 Royalty income 84 89 Other 19 18 Total $ 628 $ 680 |
Capital Stock and Earnings Pe_2
Capital Stock and Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Earnings Per Share [Abstract] | |
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block] | Basic and diluted income/(loss) per share were calculated using the following (in millions): First Quarter 2019 2020 Basic and Diluted Income/(Loss) Attributable to Ford Motor Company Basic income/(loss) $ 1,146 $ (1,993 ) Diluted income/(loss) 1,146 (1,993 ) Basic and Diluted Shares Basic shares (average shares outstanding) 3,973 3,963 Net dilutive options, unvested restricted stock units, and unvested restricted stock shares (a) 24 — Diluted shares 3,997 3,963 __________ (a) Not included in the calculation of diluted earnings per share, due to their antidilutive effect, are 30 million |
Cash, Cash Equivalents, and M_3
Cash, Cash Equivalents, and Marketable Securities (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Cash, Cash Equivalents, and Marketable Securities [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, 2019 Fair Value Level Automotive Mobility Ford Credit Consolidated Cash and cash equivalents U.S. government 1 $ 520 $ — $ — $ 520 U.S. government agencies 2 125 — — 125 Non-U.S. government and agencies 2 601 — 350 951 Corporate debt 2 642 — 604 1,246 Total marketable securities classified as cash equivalents 1,888 — 954 2,842 Cash, time deposits, and money market funds 6,432 117 8,113 14,662 Total cash and cash equivalents $ 8,320 $ 117 $ 9,067 $ 17,504 Marketable securities U.S. government 1 $ 2,930 $ — $ 195 $ 3,125 U.S. government agencies 2 1,548 — 210 1,758 Non-U.S. government and agencies 2 4,217 — 2,408 6,625 Corporate debt 2 4,802 — 193 4,995 Equities (a) 1 81 — — 81 Other marketable securities 2 273 — 290 563 Total marketable securities $ 13,851 $ — $ 3,296 $ 17,147 Restricted cash $ 15 $ 21 $ 139 $ 175 Cash, cash equivalents, and restricted cash in held-for-sale assets $ — $ — $ 62 $ 62 March 31, 2020 Fair Value Level Automotive Mobility Ford Credit Consolidated Cash and cash equivalents U.S. government 1 $ 3,150 $ — $ 825 $ 3,975 U.S. government agencies 2 3,024 — 200 3,224 Non-U.S. government and agencies 2 795 — 378 1,173 Corporate debt 2 480 — 598 1,078 Total marketable securities classified as cash equivalents 7,449 — 2,001 9,450 Cash, time deposits, and money market funds 8,799 95 7,627 16,521 Total cash and cash equivalents $ 16,248 $ 95 $ 9,628 $ 25,971 Marketable securities U.S. government 1 $ 4,772 $ — $ 294 $ 5,066 U.S. government agencies 2 3,985 — 160 4,145 Non-U.S. government and agencies 2 3,787 — 1,520 5,307 Corporate debt 2 5,094 — 199 5,293 Equities (a) 1 41 — — 41 Other marketable securities 2 267 — 280 547 Total marketable securities $ 17,946 $ — $ 2,453 $ 20,399 Restricted cash $ 18 $ 21 $ 150 $ 189 Cash, cash equivalents, and restricted cash in held-for-sale assets $ — $ — $ — $ — __________ (a) Net unrealized gains/losses incurred during the reporting periods on equity securities still held at December 31, 2019 and March 31, 2020 were a $44 million loss and a $38 million loss , respectively. |
Available-for-sale Securities [Table Text Block] | The cash equivalents and marketable securities accounted for as available-for-sale (“AFS”) securities were as follows (in millions): December 31, 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 $ 2,839 $ 11 $ (1 ) $ 2,849 $ 1,028 $ 1,772 $ 49 U.S. government agencies 1,445 2 (1 ) 1,446 830 589 27 Non-U.S. government and agencies 3,925 20 (1 ) 3,944 1,546 2,398 — Corporate debt 5,029 53 — 5,082 1,837 3,245 — Other marketable securities 230 1 — 231 — 149 82 Total $ 13,468 $ 87 $ (3 ) $ 13,552 $ 5,241 $ 8,153 $ 158 March 31, 2020 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 $ 2,598 $ 71 $ — $ 2,669 $ 574 $ 2,033 $ 62 U.S. government agencies 1,329 14 — 1,343 444 822 77 Non-U.S. government and agencies 3,625 55 (1 ) 3,679 1,594 2,085 — Corporate debt 5,197 23 (55 ) 5,165 1,845 3,293 27 Other marketable securities 227 — (4 ) 223 — 153 70 Total $ 12,976 $ 163 $ (60 ) $ 13,079 $ 4,457 $ 8,386 $ 236 Sales proceeds and gross realized gains/losses from the sale of AFS securities for the periods ended March 31 were as follows (in millions): First Quarter 2019 2020 Automotive Sales proceeds $ 1,142 $ 1,865 Gross realized gains 2 7 Gross realized losses 5 7 |
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 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, 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 $ (1 ) $ 50 $ — $ 233 $ (1 ) U.S. government agencies 370 (1 ) 344 — 714 (1 ) Non-U.S. government and agencies 463 — 390 (1 ) 853 (1 ) Corporate debt 29 — 53 — 82 — Other marketable securities 59 — 17 — 76 — Total $ 1,104 $ (2 ) $ 854 $ (1 ) $ 1,958 $ (3 ) March 31, 2020 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 $ — $ — $ — $ — $ — $ — U.S. government agencies 70 — 42 — 112 — Non-U.S. government and agencies 377 (1 ) 25 — 402 (1 ) Corporate debt 2,023 (54 ) 24 (1 ) 2,047 (55 ) Other marketable securities 160 (3 ) 20 (1 ) 180 (4 ) Total $ 2,630 $ (58 ) $ 111 $ (2 ) $ 2,741 $ (60 ) |
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, March 31, Cash and cash equivalents $ 17,504 $ 25,971 Restricted cash (a) 175 189 Cash, cash equivalents, and restricted cash in held-for-sale assets 62 — Total cash, cash equivalents, and restricted cash $ 17,741 $ 26,160 __________ (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) | 3 Months Ended |
Mar. 31, 2020 | |
Financing Receivable, Past Due [Line Items] | |
Financing Receivable, Past Due [Table Text Block] | The credit quality analysis of consumer receivables at December 31, 2019 was as follows (in millions): Total Consumer 31 - 60 days past due $ 839 61 - 120 days past due 166 Greater than 120 days past due 35 Total past due 1,040 Current 72,842 Total $ 73,882 The credit quality analysis of consumer receivables at March 31, 2020 was as follows (in millions): Amortized Cost Basis by Origination Year Prior to 2016 2016 2017 2018 2019 2020 Total Consumer 31 - 60 days past due $ 79 $ 95 $ 139 $ 185 $ 143 $ 10 $ 651 61 - 120 days past due 13 21 36 43 35 1 149 Greater than 120 days past due 16 7 6 6 2 — 37 Total past due 108 123 181 234 180 11 837 Current 2,181 5,080 11,048 19,267 26,210 6,198 69,984 Total $ 2,289 $ 5,203 $ 11,229 $ 19,501 $ 26,390 $ 6,209 $ 70,821 |
Net finance receivables [Table Text Block] | Finance receivables are recorded at the time of origination or purchase at fair value and are subsequently reported at amortized cost, net of any allowance for credit losses. 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. Ford Credit finance receivables, net were as follows (in millions): December 31, March 31, Consumer Retail installment contracts, gross $ 68,905 $ 66,116 Finance leases, gross 8,566 8,107 Retail financing, gross 77,471 74,223 Unearned interest supplements (3,589 ) (3,402 ) Consumer finance receivables 73,882 70,821 Non-Consumer Dealer financing 33,985 36,440 Non-Consumer finance receivables 33,985 36,440 Total recorded investment $ 107,867 $ 107,261 Recorded investment in finance receivables $ 107,867 $ 107,261 Allowance for credit losses (513 ) (1,231 ) Finance receivables, net $ 107,354 $ 106,030 Current portion $ 53,651 $ 54,889 Non-current portion 53,703 51,141 Total finance receivables, net $ 107,354 $ 106,030 Net finance receivables subject to fair value (a) $ 99,168 $ 98,332 Fair value (b) 99,297 98,513 __________ (a) Net finance receivables subject to fair value exclude finance leases. (b) The fair value of finance receivables is categorized within Level 3 of the fair value hierarchy. |
Financing receivable credit quality indicators [Table Text Block] | The credit quality analysis of dealer financing receivables at December 31, 2019 was as follows (in millions): Total Dealer financing Group I $ 26,281 Group II 5,407 Group III 2,108 Group IV 189 Total (a) $ 33,985 __________ (a) Total past due dealer financing receivables at December 31, 2019 were $62 million . The credit quality analysis of dealer financing receivables at March 31, 2020 was as follows (in millions): Amortized Cost Basis by Origination Year Wholesale Loans Dealer Loans Prior to 2016 2016 2017 2018 2019 2020 Total Total Group I $ 676 $ 147 $ 154 $ 276 $ 120 $ 122 $ 1,495 $ 26,774 $ 28,269 Group II 31 30 28 14 24 45 172 5,886 6,058 Group III 9 — 4 17 22 17 69 1,943 2,012 Group IV 2 1 — — 2 4 9 92 101 Total (a) $ 718 $ 178 $ 186 $ 307 $ 168 $ 188 $ 1,745 $ 34,695 $ 36,440 __________ (a) Total past due dealer financing receivables at March 31, 2020 were $34 million . |
Ford Credit Finance Receivabl_4
Ford Credit Finance Receivables and Allowance for Credit Losses Allowance for Credit Losses (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Allowance for Credit Loss [Abstract] | |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | An analysis of the allowance for credit losses related to finance receivables for the periods ended March 31 was as follows (in millions): First Quarter 2019 (a) Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 566 $ 23 $ 589 Charge-offs (137 ) (17 ) (154 ) Recoveries 43 2 45 Provision for credit losses 24 9 33 Other — — — Ending balance $ 496 $ 17 $ 513 First Quarter 2020 Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 496 $ 17 $ 513 Adoption of ASU 2016-13 (b) 247 5 252 Charge-offs (145 ) (1 ) (146 ) Recoveries 43 2 45 Provision for credit losses 534 52 586 Other (c) (18 ) (1 ) (19 ) Ending balance $ 1,157 $ 74 $ 1,231 __________ (a) The comparative information has not been restated and continues to be reported under the accounting standard in effect during 2019. (b) Cumulative pre-tax adjustments recorded to retained earnings as of January 1, 2020. See Note 2 for additional information. (c) Primarily represents amounts related to translation adjustments. |
Inventories (Tables)
Inventories (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory [Table Text Block] | Inventories were as follows (in millions): December 31, March 31, Raw materials, work-in-process, and supplies $ 4,402 $ 4,598 Finished products 6,384 6,714 Total inventories $ 10,786 $ 11,312 |
Other Liabilities and Deferre_2
Other Liabilities and Deferred Revenue (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
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, March 31, Current Dealer and dealers’ customer allowances and claims $ 13,113 $ 13,257 Deferred revenue 2,091 2,111 Employee benefit plans 1,857 1,612 Accrued interest 1,128 819 OPEB (a) 332 326 Pension (a) 185 183 Operating lease liabilities 367 361 Other 3,914 4,005 Total current other liabilities and deferred revenue $ 22,987 $ 22,674 Non-current Pension (a) $ 9,878 $ 9,414 OPEB (a) 5,740 5,605 Dealer and dealers’ customer allowances and claims 1,921 2,252 Deferred revenue 4,191 4,140 Operating lease liabilities 1,047 1,006 Employee benefit plans 1,104 1,097 Other 1,443 1,591 Total non-current other liabilities and deferred revenue $ 25,324 $ 25,105 __________ (a) Balances at March 31, 2020 reflect pension and OPEB liabilities at December 31, 2019 , updated for service and interest cost, expected return on assets, curtailment and settlement gains 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 2019 . Included in Other assets are pension assets of $3.2 billion and $3.4 billion at December 31, 2019 and March 31, 2020 , respectively. |
Retirement Benefits (Tables)
Retirement Benefits (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
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 March 31 were as follows (in millions): First Quarter Pension Benefits U.S. Plans Non-U.S. Plans Worldwide OPEB 2019 2020 2019 2020 2019 2020 Service cost $ 114 $ 130 $ 129 $ 131 $ 11 $ 12 Interest cost 409 323 176 133 53 43 Expected return on assets (649 ) (699 ) (286 ) (267 ) — — Amortization of prior service costs/(credits) 22 1 8 9 (18 ) (4 ) Net remeasurement (gain)/loss — — — (80 ) — 58 Separation programs/other 1 10 12 24 — (1 ) Settlements and curtailments — — — 1 — (2 ) Net periodic benefit cost/(income) $ (103 ) $ (235 ) $ 39 $ (49 ) $ 46 $ 106 |
Debt (Tables)
Debt (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
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): December 31, March 31, Automotive Debt payable within one year Short-term $ 315 $ 569 Long-term payable within one year U.S. Department of Energy Advanced Technology Vehicles Manufacturing (“DOE ATVM”) Incentive Program 591 591 Other debt 540 450 Unamortized (discount)/premium (1 ) (1 ) Total debt payable within one year 1,445 1,609 Long-term debt payable after one year Public unsecured debt securities 10,583 10,583 Credit facilities (a) — 15,068 Delayed draw term loan 1,500 1,500 DOE ATVM Incentive Program 880 732 Other debt 547 800 Unamortized (discount)/premium (161 ) (157 ) Unamortized issuance costs (116 ) (115 ) Total long-term debt payable after one year 13,233 28,411 Total Automotive $ 14,678 $ 30,020 Fair value of Automotive debt (b) $ 15,606 $ 22,877 Ford Credit Debt payable within one year Short-term $ 13,717 $ 12,424 Long-term payable within one year Unsecured debt 15,062 17,137 Asset-backed debt 23,609 21,736 Unamortized (discount)/premium 1 2 Unamortized issuance costs (17 ) (19 ) Fair value adjustments (c) (1 ) 23 Total debt payable within one year 52,371 51,303 Long-term debt payable after one year Unsecured debt 55,148 51,138 Asset-backed debt 32,162 32,973 Unamortized (discount)/premium 6 4 Unamortized issuance costs (197 ) (188 ) Fair value adjustments (c) 539 1,606 Total long-term debt payable after one year 87,658 85,533 Total Ford Credit $ 140,029 $ 136,836 Fair value of Ford Credit debt (b) $ 141,678 $ 128,714 Other Long-term debt payable within one year $ 130 $ — Long-term debt payable after one year Unsecured debt 474 474 Unamortized (discount)/premium (3 ) (3 ) Unamortized issuance costs (1 ) (1 ) Total long-term debt payable after one year 470 470 Total Other $ 600 $ 470 Fair value of Other debt $ 720 $ 448 __________ (a) We drew $15.4 billion under our corporate credit facility and supplemental revolving credit facility in the first quarter of 2020, and received $15.1 billion as of March 31, 2020, and the remaining $300 million on April 8, 2020. (b) The fair value of debt includes $315 million and $569 million of Automotive short-term debt and $12.8 billion and $11.3 billion of Ford Credit short-term debt at December 31, 2019 and March 31, 2020 , respectively, carried at cost, which approximates fair value. All debt is categorized within Level 2 of the fair value hierarchy. (c) These adjustments relate to fair value hedges. The carrying value of hedged debt was $39.4 billion and $41.6 billion at December 31, 2019 and March 31, 2020 , respectively. |
Derivative Financial Instrume_3
Derivative Financial Instruments and Hedging Activities (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
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 March 31 were as follows (in millions): First Quarter Cash flow hedges (a) 2019 2020 Reclassified from AOCI to Cost of sales Foreign currency exchange contracts $ 54 $ (70 ) Commodity contracts (5 ) (14 ) Fair value hedges Interest rate contracts Net interest settlements and accruals on hedging instruments (20 ) 28 Fair value changes on hedging instruments 250 1,110 Fair value changes on hedged debt (253 ) (1,093 ) Derivatives not designated as hedging instruments Foreign currency exchange contracts (b) (28 ) 586 Cross-currency interest rate swap contracts (145 ) (151 ) Interest rate contracts (27 ) (74 ) Commodity contracts 11 (43 ) Total $ (163 ) $ 279 __________ (a) For the first quarter of 2019 and 2020 , a $521 million loss and an $897 million gain , respectively, were reported in Other comprehensive income/(loss), net of tax related to foreign currency exchange contracts. For the first quarter of 2019 and 2020 , an $11 million gain and a $101 million loss , respectively, were reported in Other comprehensive income/(loss), net of tax related to commodity contracts. (b) For the first quarter of 2019 and 2020 , a $22 million loss and a $376 million gain were reported in Cost of sales and a $6 million loss and a $210 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 were as follows (in millions): December 31, 2019 March 31, 2020 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 $ 15,349 $ 47 $ 493 $ 13,148 $ 606 $ 168 Commodity contracts 673 5 29 665 — 108 Fair value hedges Interest rate contracts 26,577 702 19 23,663 1,549 — Derivatives not designated as hedging instruments Foreign currency exchange contracts 19,350 58 270 17,509 476 130 Cross-currency interest rate swap contracts 5,849 134 67 5,938 126 238 Interest rate contracts 68,914 275 191 72,822 651 561 Commodity contracts 467 9 9 474 1 46 Total derivative financial instruments, gross (a) (b) $ 137,179 $ 1,230 $ 1,078 $ 134,219 $ 3,409 $ 1,251 Current portion $ 390 $ 772 $ 1,388 $ 759 Non-current portion 840 306 2,021 492 Total derivative financial instruments, gross $ 1,230 $ 1,078 $ 3,409 $ 1,251 __________ (a) At December 31, 2019 and March 31, 2020 , we held collateral of $18 million and $23 million , and we posted collateral of $78 million and $86 million , respectively. (b) At December 31, 2019 and March 31, 2020 , the fair value of assets and liabilities available for counterparty netting was $269 million and $841 million , respectively . All derivatives are categorized within Level 2 of the fair value hierarchy. |
Employee Separation Actions a_3
Employee Separation Actions and Exit and Disposal Activities (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Restructuring Cost and Reserve [Line Items] | |
Schedule of Restructuring Reserve by Type of Cost | The following table summarizes the redesign-related activities for the periods ended March 31 , which are recorded in Other liabilities and deferred revenue (in millions): First Quarter 2019 2020 Beginning balance $ 291 $ 734 Changes in accruals (a) 267 68 Payments (136 ) (172 ) Foreign currency translation (8 ) (29 ) Ending balance $ 414 $ 601 __________ (a) Excludes pension costs of $13 million and $24 million in the first quarter of 2019 and 2020 |
Held-for-Sale Operations (Table
Held-for-Sale Operations (Tables) - Operating Segments | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Automotive | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Disposal Groups, Including Discontinued Operations [Table Text Block] | The assets and liabilities of our India Automotive operations classified as held for sale were as follows (in millions): December 31, March 31, Assets Trade and other receivables, net $ 269 $ 186 Inventories 208 261 Other assets, current 147 96 Net property 279 263 Other assets, non-current 10 9 Total assets of held-for-sale operations 913 815 Less: Intercompany asset balances (228 ) (151 ) Automotive segment total assets of held-for-sale operations (a) $ 685 $ 664 Liabilities Payables $ 461 $ 473 Other liabilities and deferred revenue, current 71 68 Automotive debt payable within one year 90 84 Other liabilities and deferred revenue, non-current 28 25 Total liabilities of held-for-sale operations 650 650 Less: Intercompany liability balances (169 ) (181 ) Automotive segment total liabilities of held-for-sale operations (a) $ 481 $ 469 __________ (a) As of December 31, 2019 and March 31, 2020 , intercompany items and transactions have been eliminated on the consolidated balance sheet. Upon closing, the buyer will assume the intercompany assets and liabilities. Accordingly, we have presented those balances in the table for informational purposes. | |
Ford Credit | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Disposal Groups, Including Discontinued Operations [Table Text Block] | The assets and liabilities of the Forso operations classified as held for sale at December 31, 2019 were as follows (in millions): December 31, Assets Cash and cash equivalents $ 61 Ford Credit finance receivables, net, current 516 Trade and other receivables, net 8 Other assets, current 106 Ford Credit finance receivables, net, non-current 715 Net property 2 Deferred income taxes 9 Other assets, non-current 1 Total assets of held-for-sale operations 1,418 Less: Intercompany asset balances (2 ) Ford Credit segment total assets of held-for-sale operations (a) $ 1,416 Liabilities Payables $ 34 Other liabilities and deferred revenue, current 8 Ford Credit long-term debt 1,254 Deferred income taxes 23 Total liabilities of held-for-sale operations 1,319 Less: Intercompany liability balances (1,274 ) Ford Credit segment total liabilities of held-for-sale operations (a) $ 45 __________ (a) As of December 31, 2019 , intercompany items and transactions have been eliminated on the consolidated balance sheet. Upon closing, the buyer assumed the intercompany assets and liabilities. Accordingly, we have presented those balances in the table for informational purposes. |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income/(Loss) (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
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 March 31 were as follows (in millions): First Quarter 2019 2020 Foreign currency translation Beginning balance $ (4,800 ) $ (4,626 ) Gains/(Losses) on foreign currency translation 271 (1,406 ) Less: Tax/(Tax benefit) 28 27 Net gains/(losses) on foreign currency translation 243 (1,433 ) (Gains)/Losses reclassified from AOCI to net income (a) — (20 ) Other comprehensive income/(loss), net of tax 243 (1,453 ) Ending balance $ (4,557 ) $ (6,079 ) Marketable securities Beginning balance $ (59 ) $ 71 Gains/(Losses) on available for sale securities 80 19 Less: Tax/(Tax benefit) 19 5 Net gains/(losses) on available for sale securities 61 14 (Gains)/Losses reclassified from AOCI to net income 3 — Less: Tax/(Tax benefit) 1 — Net (gains)/losses reclassified from AOCI to net income 2 — Other comprehensive income/(loss), net of tax 63 14 Ending balance $ 4 $ 85 Derivative instruments Beginning balance $ 201 $ (488 ) Gains/(Losses) on derivative instruments (510 ) 796 Less: Tax/(Tax benefit) (102 ) 173 Net gains/(losses) on derivative instruments (408 ) 623 (Gains)/Losses reclassified from AOCI to net income (49 ) 84 Less: Tax/(Tax benefit) (11 ) 15 Net (gains)/losses reclassified from AOCI to net income (b) (38 ) 69 Other comprehensive income/(loss), net of tax (446 ) 692 Ending balance $ (245 ) $ 204 Pension and other postretirement benefits Beginning balance $ (2,708 ) $ (2,685 ) Amortization and recognition of prior service costs/(credits) 12 4 Less: Tax/(Tax benefit) 2 1 Net prior service costs/(credits) reclassified from AOCI to net income 10 3 Translation impact on non-U.S. plans (5 ) 11 Other comprehensive income/(loss), net of tax 5 14 Ending balance $ (2,703 ) $ (2,671 ) Total AOCI ending balance at March 31 $ (7,501 ) $ (8,461 ) __________ (a) Reclassified to Other income/(loss), net. (b) Reclassified to Cost of sales . During the next twelve months we expect to reclassify existing net gains on cash flow hedges of $147 million . See Note 15 for additional information. |
Commitments and Contingencies_2
Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Warranty [Table Text Block] | The estimate of our future warranty and field service action costs, net of estimated supplier recoveries, for the periods ended March 31 was as follows (in millions): First Quarter 2019 2020 Beginning balance $ 5,137 $ 5,702 Payments made during the period (1,074 ) (1,075 ) Changes in accrual related to warranties issued during the period 693 805 Changes in accrual related to pre-existing warranties 271 521 Foreign currency translation and other 7 (164 ) Ending balance $ 5,034 $ 5,789 |
Segment Information (Tables)
Segment Information (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Key financial information for the periods ended or at March 31 was as follows (in millions): Automotive Mobility Ford Credit Corporate Other Interest on Debt Special Items Adjustments Total First Quarter 2019 Revenues $ 37,239 $ 6 $ 3,097 $ — $ — $ — $ — $ 40,342 Income/(loss) before income taxes 2,009 (288 ) 801 (75 ) (245 ) (592 ) — 1,610 Equity in net income/(loss) of affiliated companies 17 2 6 — — — — 25 Cash, cash equivalents, marketable securities, and restricted cash 24,034 167 13,700 — — — — 37,901 Total assets 102,113 949 164,409 — — — (4,190 ) (a) 263,281 First Quarter 2020 Revenues $ 31,340 $ 13 $ 2,967 $ — $ — $ — $ — $ 34,320 Income/(loss) before income taxes (177 ) (334 ) 30 (151 ) (227 ) (287 ) — (1,146 ) Equity in net income/(loss) of affiliated companies (47 ) — 6 — — — — (41 ) Cash, cash equivalents, marketable securities, and restricted cash 34,212 116 12,231 — — — — 46,559 Total assets 111,388 941 156,393 — — — (4,572 ) (a) 264,150 __________ (a) Includes eliminations of intersegment transactions occurring in the ordinary course of business and deferred tax netting. |
Presentation Global Pandemic (D
Presentation Global Pandemic (Details) - USD ($) $ in Millions | Apr. 22, 2020 | Apr. 08, 2020 | Mar. 31, 2020 | Mar. 19, 2020 | Mar. 31, 2020 |
Line of Credit Facility [Line Items] | |||||
Tax Credit Carryforward, Valuation Allowance | $ 855 | $ 855 | |||
Ford Credit | |||||
Line of Credit Facility [Line Items] | |||||
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease) | 718 | ||||
Revolving Credit Facility [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Proceeds from Lines of Credit | $ 15,100 | 15,400 | |||
Operating Segments | Revolving Credit Facility [Member] | Automotive | |||||
Line of Credit Facility [Line Items] | |||||
Proceeds from Lines of Credit | $ 15,400 | ||||
Subsequent Event | Revolving Credit Facility [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Proceeds from Lines of Credit | $ 300 | ||||
Subsequent Event | Unsecured Debt | |||||
Line of Credit Facility [Line Items] | |||||
Proceeds from Issuance of Debt | $ 8,000 | ||||
Global Pandemic [Member] | Ford Credit | |||||
Line of Credit Facility [Line Items] | |||||
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease) | 486 | ||||
Change in Net Realizable Value | $ (100) | ||||
8.50% Notes due April 21, 2023 | Subsequent Event | Unsecured Debt | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Term | 3 years | ||||
Proceeds from Issuance of Debt | $ 3,500 | ||||
9.00% Notes due April 22, 2025 | Subsequent Event | Unsecured Debt | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Term | 5 years | ||||
Proceeds from Issuance of Debt | $ 3,500 | ||||
9.625% Notes due April 22, 2030 | Subsequent Event | Unsecured Debt | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Term | 10 years | ||||
Proceeds from Issuance of Debt | $ 1,000 |
New Accounting Standards Cumula
New Accounting Standards Cumulative Effect of Changes due to Adoption (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Ford Credit finance receivables, net of allowance for credit losses of $162 and $389 (Note 8) | $ 54,889 | $ 53,582 | $ 53,651 | ||
Trade and other receivables, less allowances of $63 and $72 | 6,625 | 9,234 | 9,237 | ||
Ford Credit finance receivables, net of allowance for credit losses of $351 and $842 (Note 8) | 51,141 | 53,520 | 53,703 | ||
Equity in net assets of affiliated companies | 2,275 | 2,512 | 2,519 | ||
Deferred income taxes | 11,865 | ||||
Deferred income taxes | 432 | ||||
Retained earnings | 29,698 | 33,230 | $ 36,434 | $ 35,966 | |
Retained Earnings | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Retained earnings | $ 17,527 | 20,118 | 20,320 | $ 23,226 | $ 22,668 |
Accounting Standards Update 2016-13 | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Ford Credit finance receivables, net of allowance for credit losses of $162 and $389 (Note 8) | (69) | ||||
Trade and other receivables, less allowances of $63 and $72 | (3) | ||||
Ford Credit finance receivables, net of allowance for credit losses of $351 and $842 (Note 8) | (183) | ||||
Equity in net assets of affiliated companies | (7) | ||||
Deferred income taxes | 2 | ||||
Deferred income taxes | $ (58) | ||||
Accounting Standards Update 2016-13 | Retained Earnings | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Retained earnings | (202) | ||||
Previously Reported | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Ford Credit finance receivables, net of allowance for credit losses of $162 and $389 (Note 8) | 53,651 | ||||
Trade and other receivables, less allowances of $63 and $72 | 9,237 | ||||
Ford Credit finance receivables, net of allowance for credit losses of $351 and $842 (Note 8) | 53,703 | ||||
Equity in net assets of affiliated companies | 2,519 | ||||
Deferred income taxes | 11,863 | ||||
Deferred income taxes | 490 | ||||
Previously Reported | Retained Earnings | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Retained earnings | $ 20,320 |
Revenue - Disaggregation of Rev
Revenue - Disaggregation of Revenue from Contract with Customer by Products and Services (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Disaggregation of Revenue [Line Items] | ||
Total revenues | $ 34,320 | $ 40,342 |
Vehicles, parts, and accessories | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 29,841 | 35,576 |
Used vehicles | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 931 | 1,020 |
Extended service contracts | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 364 | 333 |
Other revenue | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 200 | 270 |
Revenues from sales and services | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 31,336 | 37,199 |
Leasing income | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 1,517 | 1,574 |
Financing income | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 1,425 | 1,528 |
Insurance income | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 42 | 41 |
Operating Segments | Automotive | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 31,340 | 37,239 |
Operating Segments | Automotive | Vehicles, parts, and accessories | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 29,841 | 35,576 |
Operating Segments | Automotive | Used vehicles | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 931 | 1,020 |
Operating Segments | Automotive | Extended service contracts | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 364 | 333 |
Operating Segments | Automotive | Other revenue | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 146 | 213 |
Operating Segments | Automotive | Revenues from sales and services | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 31,282 | 37,142 |
Operating Segments | Automotive | Leasing income | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 58 | 97 |
Operating Segments | Automotive | Financing income | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 0 | 0 |
Operating Segments | Automotive | Insurance income | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 0 | 0 |
Operating Segments | Mobility | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 13 | 6 |
Operating Segments | Mobility | Vehicles, parts, and accessories | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 0 | 0 |
Operating Segments | Mobility | Used vehicles | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 0 | 0 |
Operating Segments | Mobility | Extended service contracts | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 0 | 0 |
Operating Segments | Mobility | Other revenue | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 13 | 6 |
Operating Segments | Mobility | Revenues from sales and services | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 13 | 6 |
Operating Segments | Mobility | Leasing income | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 0 | 0 |
Operating Segments | Mobility | Financing income | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 0 | 0 |
Operating Segments | Mobility | Insurance income | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 0 | 0 |
Operating Segments | Ford Credit | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 2,967 | 3,097 |
Operating Segments | Ford Credit | Vehicles, parts, and accessories | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 0 | 0 |
Operating Segments | Ford Credit | Used vehicles | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 0 | 0 |
Operating Segments | Ford Credit | Extended service contracts | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 0 | 0 |
Operating Segments | Ford Credit | Other revenue | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 41 | 51 |
Operating Segments | Ford Credit | Revenues from sales and services | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 41 | 51 |
Operating Segments | Ford Credit | Leasing income | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 1,459 | 1,477 |
Operating Segments | Ford Credit | Financing income | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 1,425 | 1,528 |
Operating Segments | Ford Credit | Insurance income | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | $ 42 | $ 41 |
Revenue Revenue - Narrative (De
Revenue Revenue - Narrative (Details) - Operating Segments - Automotive - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Vehicles, parts, and accessories | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Revenue Performance Obligation Satisfied In Prior Period | $ (885) | $ (481) | |
Extended service contracts | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Contract with Customer, Liability | 4,100 | $ 4,200 | |
Contract with Customer, Liability, Revenue Recognized | 330 | 305 | |
Capitalized Contract Cost, Net | 280 | $ 270 | |
Capitalized Contract Cost, Amortization | $ 20 | $ 19 |
Revenue Revenue - Performance O
Revenue Revenue - Performance Obligations (Details) - Operating Segments - Automotive $ in Billions | Mar. 31, 2020USD ($) |
Extended service contracts | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, Remaining Performance Obligation, Amount | $ 1 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 9 months |
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, Amount | $ 1.1 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 1 year |
Extended service contracts | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, Remaining Performance Obligation, Amount | $ 2 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 8 years |
Minimum | Other Products And Services | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 1 year |
Maximum | Other Products And Services | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 2 years |
Other Income_(Loss) (Details)
Other Income/(Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component | $ 451 | $ 272 |
Investment-related interest income | 162 | 203 |
Unrecognized Tax Benefits, Interest on Income Taxes Expense | (23) | (20) |
Gain (Loss) on Investments | (32) | 67 |
Gains (Losses) On Changes In Investments In Affiliates | 15 | 3 |
Royalty income | 89 | 84 |
Other | 18 | 19 |
Total | $ 680 | $ 628 |
Income Taxes Income Taxes (Deta
Income Taxes Income Taxes (Details) $ in Millions | Mar. 31, 2020USD ($) |
Income Tax Disclosure [Abstract] | |
Tax Credit Carryforward, Valuation Allowance | $ 855 |
Capital Stock and Earnings Pe_3
Capital Stock and Earnings Per Share (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 30 | 0 |
Basic and Diluted Income Attributable to Ford Motor Company [Abstract] | ||
Basic income/(loss) | $ (1,993) | $ 1,146 |
Diluted income/(loss) | $ (1,993) | $ 1,146 |
Basic and Diluted Shares [Abstract] | ||
Basic shares (average shares outstanding) | 3,963 | 3,973 |
Net dilutive options, unvested restricted stock units, and unvested restricted stock shares (a) | 0 | 24 |
Diluted shares | 3,963 | 3,997 |
Cash, Cash Equivalents, and M_4
Cash, Cash Equivalents, and Marketable Securities (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total cash and cash equivalents | $ 25,971 | $ 17,504 | ||
Restricted cash | 189 | 175 | ||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 26,160 | $ 21,019 | 17,741 | $ 16,907 |
Operating Segments | Automotive | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total cash and cash equivalents | 16,248 | 8,320 | ||
Debt Securities, Available-for-sale | 13,079 | 13,552 | ||
Restricted cash | 18 | 15 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 2,630 | 1,104 | ||
Operating Segments | Mobility | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total cash and cash equivalents | 95 | 117 | ||
Restricted cash | 21 | 21 | ||
Operating Segments | Ford Credit | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total cash and cash equivalents | 9,628 | 9,067 | ||
Restricted cash | 150 | 139 | ||
U.S. government | Operating Segments | Automotive | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Securities, Available-for-sale | 2,669 | 2,849 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | 183 | ||
U.S. government agencies | Operating Segments | Automotive | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Securities, Available-for-sale | 1,343 | 1,446 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 70 | 370 | ||
Non-U.S. government and agencies | Operating Segments | Automotive | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Securities, Available-for-sale | 3,679 | 3,944 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 377 | 463 | ||
Corporate debt | Operating Segments | Automotive | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Securities, Available-for-sale | 5,165 | 5,082 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 2,023 | 29 | ||
Equities (a) | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable Securities, Unrealized Gain (Loss) | (38) | $ (44) | ||
Other marketable securities | Operating Segments | Automotive | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Securities, Available-for-sale | 223 | 231 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 160 | 59 | ||
Fair Value, Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 9,450 | 2,842 | ||
Cash, Cash Equivalents, and Short-term Investments | 16,521 | 14,662 | ||
Debt Securities, Available-for-sale | 20,399 | 17,147 | ||
Fair Value, Recurring [Member] | Operating Segments | Automotive | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 7,449 | 1,888 | ||
Cash, Cash Equivalents, and Short-term Investments | 8,799 | 6,432 | ||
Debt Securities, Available-for-sale | 17,946 | 13,851 | ||
Fair Value, Recurring [Member] | Operating Segments | Mobility | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 | ||
Cash, Cash Equivalents, and Short-term Investments | 95 | 117 | ||
Debt Securities, Available-for-sale | 0 | 0 | ||
Fair Value, Recurring [Member] | Operating Segments | Ford Credit | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 2,001 | 954 | ||
Cash, Cash Equivalents, and Short-term Investments | 7,627 | 8,113 | ||
Debt Securities, Available-for-sale | 2,453 | 3,296 | ||
Fair Value, Recurring [Member] | Level 1 [Member] | U.S. government | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 3,975 | 520 | ||
Debt Securities, Available-for-sale | 5,066 | 3,125 | ||
Fair Value, Recurring [Member] | Level 1 [Member] | U.S. government | Operating Segments | Automotive | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 3,150 | 520 | ||
Debt Securities, Available-for-sale | 4,772 | 2,930 | ||
Fair Value, Recurring [Member] | Level 1 [Member] | U.S. government | Operating Segments | Mobility | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 | ||
Debt Securities, Available-for-sale | 0 | 0 | ||
Fair Value, Recurring [Member] | Level 1 [Member] | U.S. government | Operating Segments | Ford Credit | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 825 | 0 | ||
Debt Securities, Available-for-sale | 294 | 195 | ||
Fair Value, Recurring [Member] | Level 1 [Member] | Equities (a) | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Securities, Available-for-sale | 41 | 81 | ||
Fair Value, Recurring [Member] | Level 1 [Member] | Equities (a) | Operating Segments | Automotive | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Securities, Available-for-sale | 41 | 81 | ||
Fair Value, Recurring [Member] | Level 1 [Member] | Equities (a) | Operating Segments | Mobility | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Securities, Available-for-sale | 0 | 0 | ||
Fair Value, Recurring [Member] | Level 1 [Member] | Equities (a) | Operating Segments | Ford Credit | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Securities, Available-for-sale | 0 | 0 | ||
Fair Value, Recurring [Member] | Level 2 [Member] | U.S. government agencies | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 3,224 | 125 | ||
Debt Securities, Available-for-sale | 4,145 | 1,758 | ||
Fair Value, Recurring [Member] | Level 2 [Member] | U.S. government agencies | Operating Segments | Automotive | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 3,024 | 125 | ||
Debt Securities, Available-for-sale | 3,985 | 1,548 | ||
Fair Value, Recurring [Member] | Level 2 [Member] | U.S. government agencies | Operating Segments | Mobility | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 | ||
Debt Securities, Available-for-sale | 0 | 0 | ||
Fair Value, Recurring [Member] | Level 2 [Member] | U.S. government agencies | Operating Segments | Ford Credit | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 200 | 0 | ||
Debt Securities, Available-for-sale | 160 | 210 | ||
Fair Value, Recurring [Member] | Level 2 [Member] | Non-U.S. government and agencies | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 1,173 | 951 | ||
Debt Securities, Available-for-sale | 5,307 | 6,625 | ||
Fair Value, Recurring [Member] | Level 2 [Member] | Non-U.S. government and agencies | Operating Segments | Automotive | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 795 | 601 | ||
Debt Securities, Available-for-sale | 3,787 | 4,217 | ||
Fair Value, Recurring [Member] | Level 2 [Member] | Non-U.S. government and agencies | Operating Segments | Mobility | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 | ||
Debt Securities, Available-for-sale | 0 | 0 | ||
Fair Value, Recurring [Member] | Level 2 [Member] | Non-U.S. government and agencies | Operating Segments | Ford Credit | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 378 | 350 | ||
Debt Securities, Available-for-sale | 1,520 | 2,408 | ||
Fair Value, Recurring [Member] | Level 2 [Member] | Corporate debt | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 1,078 | 1,246 | ||
Debt Securities, Available-for-sale | 5,293 | 4,995 | ||
Fair Value, Recurring [Member] | Level 2 [Member] | Corporate debt | Operating Segments | Automotive | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 480 | 642 | ||
Debt Securities, Available-for-sale | 5,094 | 4,802 | ||
Fair Value, Recurring [Member] | Level 2 [Member] | Corporate debt | Operating Segments | Mobility | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 | ||
Debt Securities, Available-for-sale | 0 | 0 | ||
Fair Value, Recurring [Member] | Level 2 [Member] | Corporate debt | Operating Segments | Ford Credit | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 598 | 604 | ||
Debt Securities, Available-for-sale | 199 | 193 | ||
Fair Value, Recurring [Member] | Level 2 [Member] | Other marketable securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Securities, Available-for-sale | 547 | 563 | ||
Fair Value, Recurring [Member] | Level 2 [Member] | Other marketable securities | Operating Segments | Automotive | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Securities, Available-for-sale | 267 | 273 | ||
Fair Value, Recurring [Member] | Level 2 [Member] | Other marketable securities | Operating Segments | Mobility | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Securities, Available-for-sale | 0 | 0 | ||
Fair Value, Recurring [Member] | Level 2 [Member] | Other marketable securities | Operating Segments | Ford Credit | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Securities, Available-for-sale | $ 280 | $ 290 |
Cash, Cash Equivalents, and M_5
Cash, Cash Equivalents, and Marketable Securities Available for Sale Securities (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Debt Securities, Available-for-sale [Line Items] | ||
Cash, cash equivalents, and restricted cash in held-for-sale assets | $ 0 | $ 62 |
Operating Segments | Ford Credit | ||
Debt Securities, Available-for-sale [Line Items] | ||
Cash, cash equivalents, and restricted cash in held-for-sale assets | 0 | 62 |
Operating Segments | Automotive | ||
Debt Securities, Available-for-sale [Line Items] | ||
Cash, cash equivalents, and restricted cash in held-for-sale assets | 0 | 0 |
Debt Securities, Available-for-sale [Abstract] | ||
Debt Securities, Available-for-sale, Amortized Cost | 12,976 | 13,468 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 163 | 87 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (60) | (3) |
Debt Securities, Available-for-sale | 13,079 | 13,552 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | 4,457 | 5,241 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 8,386 | 8,153 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | 236 | 158 |
Operating Segments | Mobility | ||
Debt Securities, Available-for-sale [Line Items] | ||
Cash, cash equivalents, and restricted cash in held-for-sale assets | 0 | 0 |
U.S. government | Operating Segments | Automotive | ||
Debt Securities, Available-for-sale [Abstract] | ||
Debt Securities, Available-for-sale, Amortized Cost | 2,598 | 2,839 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 71 | 11 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | (1) |
Debt Securities, Available-for-sale | 2,669 | 2,849 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | 574 | 1,028 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 2,033 | 1,772 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | 62 | 49 |
U.S. government agencies | Operating Segments | Automotive | ||
Debt Securities, Available-for-sale [Abstract] | ||
Debt Securities, Available-for-sale, Amortized Cost | 1,329 | 1,445 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 14 | 2 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | (1) |
Debt Securities, Available-for-sale | 1,343 | 1,446 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | 444 | 830 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 822 | 589 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | 77 | 27 |
Non-U.S. government and agencies | Operating Segments | Automotive | ||
Debt Securities, Available-for-sale [Abstract] | ||
Debt Securities, Available-for-sale, Amortized Cost | 3,625 | 3,925 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 55 | 20 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (1) | (1) |
Debt Securities, Available-for-sale | 3,679 | 3,944 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | 1,594 | 1,546 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 2,085 | 2,398 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | 0 | 0 |
Corporate debt | Operating Segments | Automotive | ||
Debt Securities, Available-for-sale [Abstract] | ||
Debt Securities, Available-for-sale, Amortized Cost | 5,197 | 5,029 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 23 | 53 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (55) | 0 |
Debt Securities, Available-for-sale | 5,165 | 5,082 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | 1,845 | 1,837 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 3,293 | 3,245 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | 27 | 0 |
Other marketable securities | Operating Segments | Automotive | ||
Debt Securities, Available-for-sale [Abstract] | ||
Debt Securities, Available-for-sale, Amortized Cost | 227 | 230 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 1 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (4) | 0 |
Debt Securities, Available-for-sale | 223 | 231 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | 0 | 0 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 153 | 149 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | $ 70 | $ 82 |
Cash, Cash Equivalents, and M_6
Cash, Cash Equivalents, and Marketable Securities Sales Proceeds and Realized Gains/Losses (Details) - Operating Segments - Automotive - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Debt Securities, Available-for-sale [Line Items] | ||
Sales proceeds | $ 1,865 | $ 1,142 |
Gross realized gains | 7 | 2 |
Gross realized losses | $ 7 | $ 5 |
Cash, Cash Equivalents, and M_7
Cash, Cash Equivalents, and Marketable Securities Debt Securities in Unrealized Loss Position (Details) - Automotive - Operating Segments - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 2,630 | $ 1,104 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (58) | 2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 111 | 854 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (2) | 1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 2,741 | 1,958 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (60) | 3 |
U.S. government | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | 183 |
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 | 0 | 50 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 0 | 233 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 0 | 1 |
U.S. government agencies | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 70 | 370 |
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 | 42 | 344 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 112 | 714 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 0 | 1 |
Non-U.S. government and agencies | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 377 | 463 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1) | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 25 | 390 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 402 | 853 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (1) | 1 |
Corporate debt | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 2,023 | 29 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (54) | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 24 | 53 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1) | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 2,047 | 82 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (55) | 0 |
Other marketable securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 160 | 59 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (3) | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 20 | 17 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1) | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 180 | 76 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (4) | $ 0 |
Cash, Cash Equivalents, and M_8
Cash, Cash Equivalents, and Marketable Securities Restricted Cash (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Cash, Cash Equivalents, and Marketable Securities [Abstract] | ||||
Total cash and cash equivalents | $ 25,971 | $ 17,504 | ||
Restricted cash | 189 | 175 | ||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | 0 | 62 | ||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $ 26,160 | $ 17,741 | $ 21,019 | $ 16,907 |
Ford Credit Finance Receivabl_5
Ford Credit Finance Receivables, net (Details) - USD ($) $ in Millions | 3 Months Ended | ||||
Mar. 31, 2020 | Mar. 31, 2019 | Jan. 01, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Financing Receivables [Line Items] | |||||
Number Of Days After Which Finance Receivable Is Considered Past Due | 31 days | ||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |||||
Current portion | $ 54,889 | $ 53,582 | $ 53,651 | ||
Non-current portion | 51,141 | $ 53,520 | 53,703 | ||
Variable Interest Entity, Primary Beneficiary | |||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |||||
Finance receivables, net | 54,038 | 58,478 | |||
Ford Credit | |||||
Financing Receivables [Line Items] | |||||
Sales-type Lease, Lease Income | 95 | $ 92 | |||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |||||
Retail installment contracts, gross | 107,261 | 107,867 | |||
Finance receivables, net | 106,030 | 107,354 | |||
Allowance for credit losses | (1,231) | (513) | (513) | $ (589) | |
Current portion | 54,889 | 53,651 | |||
Non-current portion | 51,141 | 53,703 | |||
Net finance receivables subject to fair value (a) | 98,332 | 99,168 | |||
Interest Receivable | 239 | 251 | |||
Retail installment contracts, gross | 107,261 | 107,867 | |||
Ford Credit | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | |||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |||||
Fair value (b) | 98,513 | 99,297 | |||
Ford Credit | Consumer | |||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |||||
Retail installment contracts, gross | 70,821 | ||||
Retail financing, gross | 74,223 | 77,471 | |||
Allowance for credit losses | (1,157) | (496) | (496) | (566) | |
Retail installment contracts, gross | 70,821 | ||||
Ford Credit | Consumer | Variable Interest Entity, Primary Beneficiary | |||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |||||
Retail installment contracts, gross | 37,000 | 38,300 | |||
Retail installment contracts, gross | 37,000 | 38,300 | |||
Ford Credit | Consumer | Retail installment contracts | |||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |||||
Retail installment contracts, gross | 66,116 | 68,905 | |||
Retail installment contracts, gross | 66,116 | 68,905 | |||
Ford Credit | Consumer | Retail financing | |||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |||||
Retail installment contracts, gross | 70,821 | 73,882 | |||
Unearned interest supplements | (3,402) | (3,589) | |||
Retail installment contracts, gross | 70,821 | 73,882 | |||
Ford Credit | Finance Leases Portfolio Segment | Retail financing | |||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |||||
Finance leases, gross | 8,107 | 8,566 | |||
Ford Credit | Non-consumer | |||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |||||
Retail installment contracts, gross | 36,440 | 33,985 | |||
Allowance for credit losses | (74) | $ (17) | (17) | $ (23) | |
Retail installment contracts, gross | 36,440 | 33,985 | |||
Ford Credit | Non-consumer | Variable Interest Entity, Primary Beneficiary | |||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |||||
Retail installment contracts, gross | 25,700 | 26,800 | |||
Retail installment contracts, gross | 25,700 | 26,800 | |||
Ford Credit | Non-consumer | Dealer financing | |||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |||||
Retail installment contracts, gross | 36,440 | 33,985 | |||
Retail installment contracts, gross | 36,440 | 33,985 | |||
Operating Segments | Ford Credit | |||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |||||
Loans Receivable Held-for-sale, Amount | $ 36 | ||||
Disposal Group, Held-for-sale, Not Discontinued Operations | Operating Segments | Ford Credit | |||||
Financing Receivables [Line Items] | |||||
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net | 1,500 | ||||
Forso Nordic AB | Operating Segments | Ford Credit | |||||
Financing Receivables [Line Items] | |||||
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net | 1,200 | ||||
Forso Nordic AB | Disposal Group, Held-for-sale, Not Discontinued Operations | Operating Segments | Ford Credit | |||||
Financing Receivables [Line Items] | |||||
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net | $ 8 |
Ford Credit Finance Receivabl_6
Ford Credit Finance Receivables - Aging (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Dec. 31, 2019 | |
Consumer | ||
Financing Receivables, Aging [Line Items] | ||
Financing Receivable, Past Due | $ 1,040 | |
Financing Receivable, Not Past Due | 72,842 | |
Recorded investment | 73,882 | |
Consumer | Financing Receivables, 31 to 60 Days Past due [Member] | ||
Financing Receivables, Aging [Line Items] | ||
Financing Receivable, Past Due | 839 | |
Consumer | Financing Receivables, 61 to 120 Days Past due [Member] | ||
Financing Receivables, Aging [Line Items] | ||
Financing Receivable, Past Due | 166 | |
Consumer | Financing Receivables, Greater than 120 Days Past due [Member] | ||
Financing Receivables, Aging [Line Items] | ||
Financing Receivable, Past Due | 35 | |
Pass | Consumer | Maximum | ||
Financing Receivables, Aging [Line Items] | ||
Finance Receivables Credit Quality Ratings Term Range | 60 days | |
Special Mention | Consumer | Minimum | ||
Financing Receivables, Aging [Line Items] | ||
Finance Receivables Credit Quality Ratings Term Range | 61 days | |
Special Mention | Consumer | Maximum | ||
Financing Receivables, Aging [Line Items] | ||
Finance Receivables Credit Quality Ratings Term Range | 120 days | |
Substandard | Consumer | Minimum | ||
Financing Receivables, Aging [Line Items] | ||
Finance Receivables Credit Quality Ratings Term Range | 120 days | |
Ford Credit | ||
Financing Receivables, Aging [Line Items] | ||
Recorded investment | $ 107,261 | 107,867 |
Ford Credit | Consumer | ||
Financing Receivables, Aging [Line Items] | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,289 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 5,203 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 11,229 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 19,501 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 26,390 | |
Financing Receivable, Originated in Current Fiscal Year | 6,209 | |
Recorded investment | 70,821 | |
Ford Credit | Consumer | Financing Receivables, 31 to 60 Days Past due [Member] | ||
Financing Receivables, Aging [Line Items] | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 79 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 95 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 139 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 185 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 143 | |
Financing Receivable, Originated in Current Fiscal Year | 10 | |
Recorded investment | 651 | |
Ford Credit | Consumer | Financing Receivables, 61 to 120 Days Past due [Member] | ||
Financing Receivables, Aging [Line Items] | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 13 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 21 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 36 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 43 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 35 | |
Financing Receivable, Originated in Current Fiscal Year | 1 | |
Recorded investment | 149 | |
Ford Credit | Consumer | Financing Receivables, Greater than 120 Days Past due [Member] | ||
Financing Receivables, Aging [Line Items] | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 16 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 7 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 6 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 6 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2 | |
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Recorded investment | 37 | |
Ford Credit | Consumer | Financial Asset, Greater than 30 Days Past Due [Member] | ||
Financing Receivables, Aging [Line Items] | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 108 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 123 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 181 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 234 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 180 | |
Financing Receivable, Originated in Current Fiscal Year | 11 | |
Recorded investment | 837 | |
Ford Credit | Consumer | Financial Asset, 1 to 29 Days Past Due [Member] | ||
Financing Receivables, Aging [Line Items] | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,181 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 5,080 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 11,048 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 19,267 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 26,210 | |
Financing Receivable, Originated in Current Fiscal Year | 6,198 | |
Recorded investment | 69,984 | |
Ford Credit | Non-consumer | ||
Financing Receivables, Aging [Line Items] | ||
Recorded investment | 36,440 | 33,985 |
Ford Credit | Wholesale and Dealer Loans | Non-consumer | ||
Financing Receivables, Aging [Line Items] | ||
Financing Receivable, Past Due | 34 | 62 |
Financing Receivable, Not Past Due | 36,440 | 33,985 |
Recorded investment | $ 36,440 | $ 33,985 |
Ford Credit Finance Receivabl_7
Ford Credit Finance Receivables - Credit Quality (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Non-consumer | Group I | ||
Credit quality [Line Items] | ||
Recorded investment | $ 26,281 | |
Non-consumer | Group II | ||
Credit quality [Line Items] | ||
Recorded investment | 5,407 | |
Non-consumer | Group III | ||
Credit quality [Line Items] | ||
Recorded investment | 2,108 | |
Non-consumer | Group IV | ||
Credit quality [Line Items] | ||
Recorded investment | 189 | |
Ford Credit | ||
Credit quality [Line Items] | ||
Recorded investment | $ 107,261 | 107,867 |
Ford Credit | Consumer | ||
Credit quality [Line Items] | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,289 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 5,203 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 11,229 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 19,501 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 26,390 | |
Financing Receivable, Originated in Current Fiscal Year | 6,209 | |
Recorded investment | 70,821 | |
Ford Credit | Non-consumer | ||
Credit quality [Line Items] | ||
Financing Receivable, Revolving | 34,695 | |
Recorded investment | 36,440 | 33,985 |
Ford Credit | Non-consumer | Group I | ||
Credit quality [Line Items] | ||
Financing Receivable, Revolving | 26,774 | |
Recorded investment | 28,269 | |
Ford Credit | Non-consumer | Group II | ||
Credit quality [Line Items] | ||
Financing Receivable, Revolving | 5,886 | |
Recorded investment | 6,058 | |
Ford Credit | Non-consumer | Group III | ||
Credit quality [Line Items] | ||
Financing Receivable, Revolving | 1,943 | |
Recorded investment | 2,012 | |
Ford Credit | Non-consumer | Group IV | ||
Credit quality [Line Items] | ||
Financing Receivable, Revolving | 92 | |
Recorded investment | 101 | |
Ford Credit | Non-consumer | Dealer Loans | ||
Credit quality [Line Items] | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 718 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 178 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 186 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 307 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 168 | |
Financing Receivable, Originated in Current Fiscal Year | 188 | |
Recorded investment | 1,745 | |
Ford Credit | Non-consumer | Dealer Loans | Group I | ||
Credit quality [Line Items] | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 676 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 147 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 154 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 276 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 120 | |
Financing Receivable, Originated in Current Fiscal Year | 122 | |
Recorded investment | 1,495 | |
Ford Credit | Non-consumer | Dealer Loans | Group II | ||
Credit quality [Line Items] | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 31 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 30 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 28 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 14 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 24 | |
Financing Receivable, Originated in Current Fiscal Year | 45 | |
Recorded investment | 172 | |
Ford Credit | Non-consumer | Dealer Loans | Group III | ||
Credit quality [Line Items] | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 9 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 17 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 22 | |
Financing Receivable, Originated in Current Fiscal Year | 17 | |
Recorded investment | 69 | |
Ford Credit | Non-consumer | Dealer Loans | Group IV | ||
Credit quality [Line Items] | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2 | |
Financing Receivable, Originated in Current Fiscal Year | 4 | |
Recorded investment | 9 | |
Ford Credit | Non-consumer | Wholesale and Dealer Loans | ||
Credit quality [Line Items] | ||
Recorded investment | 36,440 | 33,985 |
Financing Receivable, Not Past Due | $ 36,440 | $ 33,985 |
Ford Credit Finance Receivabl_8
Ford Credit Finance Receivables and Allowance for Credit Losses Allowance for Credit Losses (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Threshold Period Past Due, Writeoff | 120 days | ||
Ford Credit | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease) | $ 718 | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Financing Receivable, Allowance for Credit Losses, Effect of Change in Method | (252) | ||
Financing Receivable, Allowance for Credit Loss, Writeoff | 146 | $ (154) | |
Financing Receivable, Allowance for Credit Loss, Recovery | 45 | 45 | |
Accounts Receivable, Credit Loss Expense (Reversal) | (586) | (33) | |
Provision for Losses, Other | (19) | 0 | |
Financing Receivable, Allowance for Credit Loss, Ending Balance | 1,231 | 513 | |
Ford Credit | Consumer | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Financing Receivable, Allowance for Credit Losses, Effect of Change in Method | (247) | ||
Financing Receivable, Allowance for Credit Loss, Writeoff | 145 | (137) | |
Financing Receivable, Allowance for Credit Loss, Recovery | 43 | 43 | |
Accounts Receivable, Credit Loss Expense (Reversal) | 534 | (24) | |
Provision for Losses, Other | (18) | 0 | |
Financing Receivable, Allowance for Credit Loss, Ending Balance | 1,157 | 496 | |
Ford Credit | Non-consumer | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Financing Receivable, Allowance for Credit Losses, Effect of Change in Method | (5) | ||
Financing Receivable, Allowance for Credit Loss, Writeoff | 1 | (17) | |
Financing Receivable, Allowance for Credit Loss, Recovery | 2 | 2 | |
Accounts Receivable, Credit Loss Expense (Reversal) | (52) | (9) | |
Provision for Losses, Other | (1) | 0 | |
Financing Receivable, Allowance for Credit Loss, Ending Balance | 74 | $ 17 | |
Ford Credit | Accounting Standards Update 2016-13 | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease) | 252 | ||
Ford Credit | Global Pandemic [Member] | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease) | 486 | ||
Ford Credit | Wholesale and Dealer Loans | Non-consumer | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Past Due | $ 34 | $ 62 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Inventory Disclosure [Abstract] | ||
Raw materials, work-in-process, and supplies | $ 4,598 | $ 4,402 |
Finished products | 6,714 | 6,384 |
Total inventories | $ 11,312 | $ 10,786 |
Other Investments Other Inves_3
Other Investments Other Investments (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Other Investments [Abstract] | |||
Equity Securities without Readily Determinable Fair Value, Amount | $ 1,200,000,000 | $ 1,200,000,000 | |
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities | $ 0 | $ 0 |
Goodwill (Details)
Goodwill (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Goodwill | $ 278 | $ 278 |
Other Liabilities and Deferre_3
Other Liabilities and Deferred Revenue (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Accounts Payable and Accrued Liabilities, Current [Abstract] | ||
Dealer and dealers’ customer allowances and claims | $ 13,257 | $ 13,113 |
Deferred revenue | 2,111 | 2,091 |
Employee benefit plans | 1,612 | 1,857 |
Accrued interest | 819 | 1,128 |
OPEB (a) | 326 | 332 |
Pension (a) | 183 | 185 |
Operating lease liabilities | 361 | 367 |
Other | 4,005 | 3,914 |
Total current other liabilities and deferred revenue | 22,674 | 22,987 |
Accounts Payable and Accrued Liabilities, Noncurrent [Abstract] | ||
Pension (a) | 9,414 | 9,878 |
OPEB (a) | 5,605 | 5,740 |
Dealer and dealers’ customer allowances and claims | 2,252 | 1,921 |
Deferred revenue | 4,140 | 4,191 |
Operating lease liabilities | 1,006 | 1,047 |
Employee benefit plans | 1,097 | 1,104 |
Other | 1,591 | 1,443 |
Total non-current other liabilities and deferred revenue | 25,105 | 25,324 |
Net pension assets | $ 3,400 | $ 3,200 |
Retirement Benefits - Expense (
Retirement Benefits - Expense (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Worldwide OPEB | ||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | ||
Service cost | $ 12 | $ 11 |
Interest cost | 43 | 53 |
Expected return on assets | 0 | 0 |
Amortization of prior service costs/(credits) | (4) | (18) |
Net remeasurement (gain)/loss | 58 | 0 |
Separation programs/other | (1) | 0 |
Settlements and curtailments | (2) | 0 |
Net periodic benefit cost/(income) | 106 | 46 |
Foreign Plan | Pension Plan | ||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | ||
Service cost | 131 | 129 |
Interest cost | 133 | 176 |
Expected return on assets | (267) | (286) |
Amortization of prior service costs/(credits) | 9 | 8 |
Net remeasurement (gain)/loss | (80) | 0 |
Separation programs/other | 24 | 12 |
Settlements and curtailments | 1 | 0 |
Net periodic benefit cost/(income) | (49) | 39 |
UNITED STATES | Pension Plan | ||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | ||
Service cost | 130 | 114 |
Interest cost | 323 | 409 |
Expected return on assets | (699) | (649) |
Amortization of prior service costs/(credits) | 1 | 22 |
Net remeasurement (gain)/loss | 0 | 0 |
Separation programs/other | 10 | 1 |
Settlements and curtailments | 0 | 0 |
Net periodic benefit cost/(income) | $ (235) | $ (103) |
Retirement Benefits Narrative (
Retirement Benefits Narrative (Details) - Pension Plan - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Global Redesign | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment | $ 24 | $ 13 |
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Remeasurement due to Settlement | (22) | |
UNITED STATES | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment | 0 | 0 |
Defined Benefit Plan, Actuarial Gain (Loss), Immediate Recognition as Component in Net Periodic Benefit (Cost) Credit | $ 0 | $ 0 |
Retirement Benefits Pension Pla
Retirement Benefits Pension Plan Contributions (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2020USD ($) | |
Unfunded Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | $ 350 |
Pension Plan | Funded Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | 175 |
Pension Plan | Unfunded Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | 86 |
Minimum | Pension Plan | Funded Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | 500 |
Maximum | Pension Plan | Funded Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | $ 700 |
Debt - Debt Outstanding (Detail
Debt - Debt Outstanding (Details) - USD ($) $ in Millions | Apr. 08, 2020 | Mar. 31, 2020 | Mar. 19, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Ford Credit | |||||
Debt Instrument [Line Items] | |||||
Debt Carrying Value Fair Value | $ 41,600 | $ 41,600 | $ 39,400 | ||
Operating Segments | Automotive | |||||
Debt Instrument [Line Items] | |||||
Short-term Debt, Fair Value | 569 | 569 | 315 | ||
Unamortized (discount)/premium, current | (1) | (1) | (1) | ||
Debt payable within one year | 1,609 | 1,609 | 1,445 | ||
Unamortized (discount)/premium, noncurrent | (157) | (157) | (161) | ||
Unamortized issuance costs, noncurrent | (115) | (115) | (116) | ||
Total long-term debt payable after one year | 28,411 | 28,411 | 13,233 | ||
Total debt | 30,020 | 30,020 | 14,678 | ||
Operating Segments | Automotive | Corporate debt | |||||
Debt Instrument [Line Items] | |||||
Unsecured Long-term Debt, Noncurrent | 10,583 | 10,583 | 10,583 | ||
Operating Segments | Automotive | Notes Payable, Other Payables | |||||
Debt Instrument [Line Items] | |||||
Other Loans Payable, Current | 450 | 450 | 540 | ||
Other Loans Payable, Long-term, Noncurrent | 800 | 800 | 547 | ||
Operating Segments | Automotive | Notes Payable, Other Payables | U.S. Department of Energy Advanced Technology Vehicles Manufacturing (“DOE ATVM”) Incentive Program | |||||
Debt Instrument [Line Items] | |||||
Other Loans Payable, Current | 591 | 591 | 591 | ||
Other Loans Payable, Long-term, Noncurrent | 732 | 732 | 880 | ||
Operating Segments | Automotive | Notes Payable, Other Payables | Delayed draw term loan | |||||
Debt Instrument [Line Items] | |||||
Long-term Line of Credit, Noncurrent | 1,500 | 1,500 | 1,500 | ||
Operating Segments | Automotive | Notes Payable, Other Payables | |||||
Debt Instrument [Line Items] | |||||
Short-term | 569 | 569 | 315 | ||
Operating Segments | Automotive | Fair Value, Nonrecurring [Member] | Level 2 [Member] | |||||
Debt Instrument [Line Items] | |||||
Fair Value | 22,877 | 22,877 | 15,606 | ||
Operating Segments | Ford Credit | |||||
Debt Instrument [Line Items] | |||||
Short-term Debt, Fair Value | 11,300 | 11,300 | 12,800 | ||
Unsecured Debt, Current | 17,137 | 17,137 | 15,062 | ||
Secured Debt, Current | 21,736 | 21,736 | 23,609 | ||
Unamortized (discount)/premium, current | 2 | 2 | 1 | ||
Unamortized issuance costs, current | (19) | (19) | (17) | ||
Adjustment Fair Value Hedging Instruments Unsecured Debt, Current | 23 | 23 | (1) | ||
Debt payable within one year | 51,303 | 51,303 | 52,371 | ||
Unsecured Long-term Debt, Noncurrent | 51,138 | 51,138 | 55,148 | ||
Secured Long-term Debt, Noncurrent | 32,973 | 32,973 | 32,162 | ||
Unamortized (discount)/premium, noncurrent | 4 | 4 | 6 | ||
Unamortized issuance costs, noncurrent | (188) | (188) | (197) | ||
Fair value adjustments, noncurrent | 1,606 | 1,606 | 539 | ||
Total long-term debt payable after one year | 85,533 | 85,533 | 87,658 | ||
Total debt | 136,836 | 136,836 | 140,029 | ||
Operating Segments | Ford Credit | Notes Payable, Other Payables | |||||
Debt Instrument [Line Items] | |||||
Short-term | 12,424 | 12,424 | 13,717 | ||
Operating Segments | Ford Credit | Fair Value, Nonrecurring [Member] | Level 2 [Member] | |||||
Debt Instrument [Line Items] | |||||
Fair Value | 128,714 | 128,714 | 141,678 | ||
Operating Segments | Other | |||||
Debt Instrument [Line Items] | |||||
Unsecured Debt, Current | 0 | 0 | 130 | ||
Debt payable within one year | 0 | 0 | 130 | ||
Unsecured Long-term Debt, Noncurrent | 474 | 474 | 474 | ||
Unamortized (discount)/premium, noncurrent | (3) | (3) | (3) | ||
Unamortized issuance costs, noncurrent | (1) | (1) | (1) | ||
Total long-term debt payable after one year | 470 | 470 | 470 | ||
Total debt | 470 | 470 | 600 | ||
Operating Segments | Other | Fair Value, Nonrecurring [Member] | Level 2 [Member] | |||||
Debt Instrument [Line Items] | |||||
Fair Value | 448 | 448 | 720 | ||
Revolving Credit Facility [Member] | |||||
Debt Instrument [Line Items] | |||||
Proceeds from Lines of Credit | 15,100 | 15,400 | |||
Revolving Credit Facility [Member] | Operating Segments | Automotive | |||||
Debt Instrument [Line Items] | |||||
Proceeds from Lines of Credit | $ 15,400 | ||||
Long-term Line of Credit, Noncurrent | $ 15,068 | $ 15,068 | $ 0 | ||
Subsequent Event | Revolving Credit Facility [Member] | |||||
Debt Instrument [Line Items] | |||||
Proceeds from Lines of Credit | $ 300 |
Income Effect of Derivative Fin
Income Effect of Derivative Financial Instruments (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Derivative [Line Items] | ||
Gain/(Loss) Recognized in Income | $ 279 | $ (163) |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Foreign currency exchange contracts [Member] | ||
Derivative [Line Items] | ||
Gain/(Loss) Reclassified from AOCI to Income | (70) | 54 |
Gain/(Loss) Recorded in OCI | 897 | (521) |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Commodity Contract [Member] | ||
Derivative [Line Items] | ||
Gain/(Loss) Reclassified from AOCI to Income | (14) | (5) |
Gain/(Loss) Recorded in OCI | (101) | 11 |
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Interest rate contracts [Member] | ||
Derivative [Line Items] | ||
Net interest settlements and accruals on hedging instruments | 28 | (20) |
Fair value changes on hedging instruments | 1,110 | 250 |
Fair value changes on hedged debt | (1,093) | (253) |
Not Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | ||
Derivative [Line Items] | ||
Gain/(Loss) Recognized in Income | 586 | (28) |
Not Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | Nonoperating Income (Expense) [Member] | ||
Derivative [Line Items] | ||
Gain/(Loss) Recognized in Income | 210 | (6) |
Not Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | Cost of Sales | ||
Derivative [Line Items] | ||
Gain/(Loss) Recognized in Income | 376 | (22) |
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | ||
Derivative [Line Items] | ||
Gain/(Loss) Recognized in Income | (43) | 11 |
Not Designated as Hedging Instrument [Member] | Cross-currency interest rate swap contracts [Member] | ||
Derivative [Line Items] | ||
Gain/(Loss) Recognized in Income | (151) | (145) |
Not Designated as Hedging Instrument [Member] | Interest rate contracts [Member] | ||
Derivative [Line Items] | ||
Gain/(Loss) Recognized in Income | $ (74) | $ (27) |
Balance Sheet Effect of Derivat
Balance Sheet Effect of Derivative Financial Instruments (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Derivative [Line Items] | ||
Derivative, Notional Amount | $ 134,219 | $ 137,179 |
Derivative Asset, Current | 1,388 | 390 |
Derivative Asset, Noncurrent | 2,021 | 840 |
Derivative Asset | 3,409 | 1,230 |
Derivative Liability, Current | 759 | 772 |
Derivative Liability, Noncurrent | 492 | 306 |
Derivative Liability | 1,251 | 1,078 |
Held collateral | 23 | 18 |
Posted collateral | 86 | 78 |
Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 13,148 | 15,349 |
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Fair Value Hedging [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 23,663 | 26,577 |
Designated as Hedging Instrument [Member] | Commodity Contract [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 665 | 673 |
Not Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 17,509 | 19,350 |
Not Designated as Hedging Instrument [Member] | Cross-currency interest rate swap contracts [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 5,938 | 5,849 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 72,822 | 68,914 |
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 474 | 467 |
Fair Value, Recurring [Member] | Level 2 [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 3,409 | 1,230 |
Fair Value of Liabilities | 1,251 | 1,078 |
Counterparty Netting, Assets Not Offset | 841 | 269 |
Counterparty Netting, Liabilities Not Offset | 841 | 269 |
Fair Value, Recurring [Member] | Level 2 [Member] | Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 606 | 47 |
Fair Value of Liabilities | 168 | 493 |
Fair Value, Recurring [Member] | Level 2 [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Fair Value Hedging [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 1,549 | 702 |
Fair Value of Liabilities | 0 | 19 |
Fair Value, 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 | 5 |
Fair Value of Liabilities | 108 | 29 |
Fair Value, Recurring [Member] | Level 2 [Member] | Not Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 476 | 58 |
Fair Value of Liabilities | 130 | 270 |
Fair Value, 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 | 126 | 134 |
Fair Value of Liabilities | 238 | 67 |
Fair Value, Recurring [Member] | Level 2 [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 651 | 275 |
Fair Value of Liabilities | 561 | 191 |
Fair Value, Recurring [Member] | Level 2 [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 1 | 9 |
Fair Value of Liabilities | $ 46 | $ 9 |
Employee Separation Actions a_4
Employee Separation Actions and Exit and Disposal Activities Global Redesign (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Jul. 31, 2019 | Jun. 30, 2019 | |
Operating Segments | Automotive | ||||
Restructuring Reserve | ||||
Beginning balance | $ 734 | $ 291 | ||
Changes in accruals (a) | 68 | 267 | ||
Payments | (172) | (136) | ||
Foreign currency translation | (29) | (8) | ||
Ending balance | 601 | 414 | ||
Global Redesign | Pension Costs | ||||
Restructuring Reserve | ||||
Restructuring Charges | 24 | 13 | ||
Global Redesign | Accelerated depreciation | ||||
Restructuring Reserve | ||||
Restructuring Charges | 14 | $ 251 | ||
Minimum | Global Redesign | Accelerated depreciation, separations, and payments | ||||
Restructuring Reserve | ||||
Restructuring and Related Cost, Expected Cost | 700 | |||
Maximum | Global Redesign | Accelerated depreciation, separations, and payments | ||||
Restructuring Reserve | ||||
Restructuring and Related Cost, Expected Cost | $ 1,200 | |||
Ford Sollers Joint Venture | ||||
Restructuring Reserve | ||||
Equity Method Investment, Ownership Percentage | 49.00% | 100.00% | ||
Ford Sollers Netherlands B.V. [Member] | Ford Sollers Joint Venture | ||||
Restructuring Reserve | ||||
Ownership Percentage Sold to Sollers | 51.00% |
Employee Separation Actions a_5
Employee Separation Actions and Exit and Disposal Activities Other Actions (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2020USD ($) | |
Voluntary Separation Package | Cost of Sales | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring Charges | $ 201 |
Held-for-Sale Operations Narrat
Held-for-Sale Operations Narrative (Details) $ in Millions | Feb. 28, 2020USD ($) | Mar. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2019USD ($) |
Disposal Group, Including Discontinued Operation, Liabilities [Abstract] | |||||
Impairment of carrying value | $ 3 | $ 0 | |||
Proceeds from sale of business (Note 17) | $ 1,340 | $ 0 | |||
Ford India Automotive Segment | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Ownership Percentage, Joint Venture Partner | 0.51 | ||||
Disposal Group, Held-for-sale, Not Discontinued Operations | Ford India Automotive Segment | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Equity Method Investment, Ownership Percentage | 49.00% | ||||
Operating Segments | Automotive | Disposal Group, Held-for-sale, Not Discontinued Operations | Ford India Automotive Segment | |||||
Disposal Group, Including Discontinued Operation, Assets [Abstract] | |||||
Trade and other receivables, net | $ 186 | $ 269 | $ 269 | ||
Inventories | 261 | 208 | 208 | ||
Other assets, current | 96 | 147 | 147 | ||
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment | 263 | 279 | 279 | ||
Other assets, non-current | 9 | 10 | 10 | ||
Total assets of held-for-sale operations (incl. intercompany) | 815 | 913 | 913 | ||
Less: Intercompany asset balances | 151 | 228 | 228 | ||
Total assets of held-for-sale operations (a) | 664 | 685 | 685 | ||
Disposal Group, Including Discontinued Operation, Liabilities [Abstract] | |||||
Payables | 473 | 461 | 461 | ||
Other liabilities and deferred revenue, current | 68 | 71 | 71 | ||
Automotive debt payable within one year | 84 | 90 | 90 | ||
Other liabilities and deferred revenue, non-current | 25 | 28 | 28 | ||
Liabilities of held-for-sale operations (incl. intercompany) | 650 | 650 | 650 | ||
Less: Intercompany liability balances | (181) | (169) | (169) | ||
Total liabilities of held-for-sale operations | 469 | 481 | 481 | ||
Impairment of carrying value | $ 3 | 804 | |||
Operating Segments | Ford Credit | Forso Nordic AB | |||||
Disposal Group, Including Discontinued Operation, Assets [Abstract] | |||||
Trade and other receivables, net | 1,200 | 1,200 | |||
Operating Segments | Ford Credit | Disposal Group, Held-for-sale, Not Discontinued Operations | |||||
Disposal Group, Including Discontinued Operation, Assets [Abstract] | |||||
Trade and other receivables, net | 1,500 | 1,500 | |||
Operating Segments | Ford Credit | Disposal Group, Held-for-sale, Not Discontinued Operations | Forso Nordic AB | |||||
Disposal Group, Including Discontinued Operation, Assets [Abstract] | |||||
Cash and cash equivalents | 61 | 61 | |||
Ford Credit finance receivables, net, current | 516 | 516 | |||
Trade and other receivables, net | 8 | 8 | |||
Other assets, current | 106 | 106 | |||
Ford Credit finance receivables, net, non-current | 715 | 715 | |||
Net property | 2 | 2 | |||
Deferred income taxes | 9 | 9 | |||
Other assets, non-current | 1 | 1 | |||
Total assets of held-for-sale operations (incl. intercompany) | 1,418 | 1,418 | |||
Less: Intercompany asset balances | 2 | 2 | |||
Total assets of held-for-sale operations (a) | 1,416 | 1,416 | |||
Disposal Group, Including Discontinued Operation, Liabilities [Abstract] | |||||
Payables | 34 | 34 | |||
Other liabilities and deferred revenue, current | 8 | 8 | |||
Ford Credit long-term debt | 1,254 | 1,254 | |||
Deferred income taxes | 23 | 23 | |||
Liabilities of held-for-sale operations (incl. intercompany) | 1,319 | 1,319 | |||
Less: Intercompany liability balances | (1,274) | (1,274) | |||
Total liabilities of held-for-sale operations | 45 | $ 45 | |||
Impairment of carrying value | $ 20 | ||||
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | $ (4) | ||||
Proceeds from sale of business (Note 17) | $ 1,300 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income/(Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Derivative instruments [Abstract] | |||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $ 147 | ||
Pension and other postretirement benefits | |||
Total AOCI ending balance at March 31 | (8,461) | $ (7,728) | |
Parent Company [Member] | |||
Foreign currency transaction [Abstract] | |||
Beginning balance | (4,626) | $ (4,800) | |
Gains/(Losses) on foreign currency translation | (1,406) | 271 | |
Less: Tax/(Tax benefit) | 27 | 28 | |
Net gains/(losses) on foreign currency translation | (1,433) | 243 | |
(Gains)/Losses reclassified from AOCI to income | (20) | 0 | |
Other comprehensive income/(loss), net of tax | (1,453) | 243 | |
Ending balance | (6,079) | (4,557) | |
Marketable securities [Abstract] | |||
Beginning balance | 71 | (59) | |
Gains/(Losses) on available for sale securities | 19 | 80 | |
Less: Tax/(Tax benefit) | 5 | 19 | |
Net gains/(losses) on available for sale securities | 14 | 61 | |
(Gains)/Losses reclassified from AOCI to net income | 0 | 3 | |
Less: Tax/(Tax benefit) | 0 | 1 | |
Net (gains)/losses reclassified from AOCI to net income | 0 | 2 | |
Other comprehensive income/(loss), net of tax | 14 | 63 | |
Ending balance | 85 | 4 | |
Derivative instruments [Abstract] | |||
Beginning balance | (488) | 201 | |
Gains/(Losses) on available for sale securities | 796 | (510) | |
Less: Tax/(Tax benefit) | 173 | (102) | |
Net gains/(losses) on available for sale securities | 623 | (408) | |
(Gains)/Losses reclassified from AOCI to net income | 84 | (49) | |
Less: Tax/(Tax benefit) | 15 | (11) | |
Net (gains)/losses reclassified from AOCI to net income | 69 | (38) | |
Other comprehensive income/(loss), net of tax | 692 | (446) | |
Ending balance | 204 | (245) | |
Pension and other postretirement benefits | |||
Beginning balance | (2,685) | (2,708) | |
Amortization of prior service costs/(credits) | 4 | 12 | |
Less: Tax/(Tax benefit) | 1 | 2 | |
Net prior service costs/(credits) reclassified from AOCI to net income | 3 | 10 | |
Translation impact on non-U.S. plans | 11 | (5) | |
Other comprehensive income/(loss), net of tax | 14 | 5 | |
Ending balance | (2,671) | (2,703) | |
Total AOCI ending balance at March 31 | $ (8,461) | $ (7,501) |
Commitments and Contingencies_3
Commitments and Contingencies (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Loss Contingency [Abstract] | |||
Loss contingency estimate | $ 400 | ||
Warranty [Abstract] | |||
Beginning balance | 5,702 | $ 5,137 | |
Payments made during the period | (1,075) | (1,074) | |
Changes in accrual related to warranties issued during the period | 805 | 693 | |
Changes in accrual related to pre-existing warranties | 521 | 271 | |
Foreign currency translation and other | (164) | 7 | |
Ending balance | 5,789 | $ 5,034 | |
Financial Guarantee [Member] | |||
Guarantor Obligations [Line Items] | |||
Maximum potential payments | 427 | $ 162 | |
Carrying value of recorded liabilities related to guarantees and limited indemnities | 49 | 33 | |
Indemnification Agreement [Member] | |||
Guarantor Obligations [Line Items] | |||
Maximum potential payments | 678 | 587 | |
Carrying value of recorded liabilities related to guarantees and limited indemnities | 253 | $ 200 | |
Guarantees to daily rental companies | |||
Guarantor Obligations [Line Items] | |||
Maximum potential payments | 673 | ||
Carrying value of recorded liabilities related to guarantees and limited indemnities | $ 252 |
Segment Information (Details)
Segment Information (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Segment Information | |||
Revenues | $ 34,320 | $ 40,342 | |
Income/(loss) before income taxes | (1,146) | 1,610 | |
Equity in net income/(loss) of affiliated companies | (41) | 25 | |
Cash, cash equivalents, marketable securities, and restricted cash | 46,559 | 37,901 | |
Total assets | 264,150 | 263,281 | $ 258,537 |
Operating Segments | Automotive | |||
Segment Information | |||
Revenues | 31,340 | 37,239 | |
Income/(loss) before income taxes | (177) | 2,009 | |
Equity in net income/(loss) of affiliated companies | (47) | 17 | |
Cash, cash equivalents, marketable securities, and restricted cash | 34,212 | 24,034 | |
Total assets | 111,388 | 102,113 | |
Operating Segments | Mobility | |||
Segment Information | |||
Revenues | 13 | 6 | |
Income/(loss) before income taxes | (334) | (288) | |
Equity in net income/(loss) of affiliated companies | 0 | 2 | |
Cash, cash equivalents, marketable securities, and restricted cash | 116 | 167 | |
Total assets | 941 | 949 | |
Operating Segments | Ford Credit | |||
Segment Information | |||
Revenues | 2,967 | 3,097 | |
Income/(loss) before income taxes | 30 | 801 | |
Equity in net income/(loss) of affiliated companies | 6 | 6 | |
Cash, cash equivalents, marketable securities, and restricted cash | 12,231 | 13,700 | |
Total assets | 156,393 | 164,409 | |
Corporate Other | |||
Segment Information | |||
Revenues | 0 | 0 | |
Income/(loss) before income taxes | (151) | (75) | |
Equity in net income/(loss) of affiliated companies | 0 | 0 | |
Cash, cash equivalents, marketable securities, and restricted cash | 0 | 0 | |
Total assets | 0 | 0 | |
Interest on Debt | Adjustments | |||
Segment Information | |||
Revenues | 0 | 0 | |
Income/(loss) before income taxes | (227) | (245) | |
Equity in net income/(loss) of affiliated companies | 0 | 0 | |
Cash, cash equivalents, marketable securities, and restricted cash | 0 | 0 | |
Total assets | 0 | 0 | |
Special Items | Adjustments | |||
Segment Information | |||
Revenues | 0 | 0 | |
Income/(loss) before income taxes | (287) | (592) | |
Equity in net income/(loss) of affiliated companies | 0 | 0 | |
Cash, cash equivalents, marketable securities, and restricted cash | 0 | 0 | |
Total assets | 0 | 0 | |
Adjustments | Adjustments | |||
Segment Information | |||
Revenues | 0 | 0 | |
Income/(loss) before income taxes | 0 | 0 | |
Equity in net income/(loss) of affiliated companies | 0 | 0 | |
Cash, cash equivalents, marketable securities, and restricted cash | 0 | 0 | |
Total assets | $ (4,572) | $ (4,190) |
Subsequent Event (Details)
Subsequent Event (Details) - Unsecured Debt - Subsequent Event $ in Billions | Apr. 22, 2020USD ($) |
Subsequent Event [Line Items] | |
Proceeds from Issuance of Debt | $ 8 |
8.50% Notes due April 21, 2023 | |
Subsequent Event [Line Items] | |
Proceeds from Issuance of Debt | $ 3.5 |
Debt Instrument, Term | 3 years |
Debt Instrument, Interest Rate, Stated Percentage | 8.50% |
9.00% Notes due April 22, 2025 | |
Subsequent Event [Line Items] | |
Proceeds from Issuance of Debt | $ 3.5 |
Debt Instrument, Term | 5 years |
Debt Instrument, Interest Rate, Stated Percentage | 9.00% |
9.625% Notes due April 22, 2030 | |
Subsequent Event [Line Items] | |
Proceeds from Issuance of Debt | $ 1 |
Debt Instrument, Term | 10 years |
Debt Instrument, Interest Rate, Stated Percentage | 9.625% |