DOCUMENT_AND_ENTITY_INFORMATIO
DOCUMENT AND ENTITY INFORMATION Document | 9 Months Ended | ||
Sep. 30, 2013 | Oct. 24, 2013 | Oct. 24, 2013 | |
Common Stock [Member] | Class B Stock [Member] | ||
Document Type | '10-Q | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 30-Sep-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'Q3 | ' | ' |
Entity Registrant Name | 'FORD MOTOR CO | ' | ' |
Entity Central Index Key | '0000037996 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 3,873,584,594 | 70,852,076 |
Trading Symbol | 'F | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
CONSOLIDATED_AND_SECTOR_INCOME
CONSOLIDATED AND SECTOR INCOME STATEMENT (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenues | ' | ' | ' | ' |
Automotive | $33,857 | $30,247 | $103,794 | $92,100 |
Financial Services | 2,119 | 1,925 | 6,087 | 5,728 |
Total revenues | 35,976 | 32,172 | 109,881 | 97,828 |
Costs and expenses | ' | ' | ' | ' |
Automotive cost of sales | 30,030 | 26,650 | 92,559 | 81,454 |
Selling, administrative and other expenses | 3,436 | 2,919 | 10,096 | 8,780 |
Financial Services provision for credit and insurance losses | 46 | 55 | 139 | 16 |
Total costs and expenses | 34,274 | 30,388 | 104,967 | 92,638 |
Automotive interest income and other income/(loss), net | 200 | 427 | 686 | 675 |
Financial Services other income/(loss), net | 100 | 104 | 270 | 260 |
Equity in net income/(loss) of affiliated companies | 293 | 129 | 780 | 325 |
Income before income taxes | 2,091 | 2,246 | 6,033 | 5,879 |
Provision for/(Benefit from) income taxes | 818 | 613 | 1,914 | 1,810 |
Net income | 1,273 | 1,633 | 4,119 | 4,069 |
Income/(Loss) attributable to noncontrolling interests | 1 | 2 | 3 | 2 |
Net income attributable to Ford Motor Company | 1,272 | 1,631 | 4,116 | 4,067 |
Basic income | ' | ' | ' | ' |
Basic income (in dollars per share) | $0.32 | $0.43 | $1.05 | $1.07 |
Diluted income | ' | ' | ' | ' |
Diluted income (in dollars per share) | $0.31 | $0.41 | $1.02 | $1.02 |
Cash dividends declared | $0.10 | $0.05 | $0.30 | $0.10 |
Automotive [Member] | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' |
Automotive | 33,857 | 30,247 | 103,794 | 92,100 |
Costs and expenses | ' | ' | ' | ' |
Automotive cost of sales | 30,030 | 26,650 | 92,559 | 81,454 |
Selling, administrative and other expenses | 2,382 | 2,092 | 7,351 | 6,460 |
Interest expense | 204 | 198 | 617 | 571 |
Total costs and expenses | 32,412 | 28,742 | 99,910 | 87,914 |
Automotive interest income and other income/(loss), net | 200 | 427 | 686 | 675 |
Equity in net income/(loss) of affiliated companies | 287 | 124 | 763 | 298 |
Income before income taxes | 1,728 | 1,858 | 4,716 | 4,588 |
Financial Services [Member] | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' |
Financial Services | 2,119 | 1,925 | 6,087 | 5,728 |
Costs and expenses | ' | ' | ' | ' |
Interest expense | 762 | 764 | 2,173 | 2,388 |
Financial Services provision for credit and insurance losses | 46 | 55 | 139 | 16 |
Depreciation on vehicles subject to operating leases | 833 | 645 | 2,207 | 1,824 |
Operating and other expenses | 221 | 182 | 538 | 496 |
Total costs and expenses | 1,862 | 1,646 | 5,057 | 4,724 |
Financial Services other income/(loss), net | 100 | 104 | 270 | 260 |
Equity in net income/(loss) of affiliated companies | 6 | 5 | 17 | 27 |
Income before income taxes | $363 | $388 | $1,317 | $1,291 |
CONSOLIDATED_STATEMENT_OF_COMP
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net income | $1,273 | $1,633 | $4,119 | $4,069 |
Foreign currency translation | 314 | 440 | -486 | 185 |
Derivative instruments | -95 | 1 | 191 | -151 |
Pension and other postretirement benefits | 109 | -54 | 1,640 | 159 |
Total other comprehensive income/(loss), net of tax | 328 | 387 | 1,345 | 193 |
Comprehensive income | 1,601 | 2,020 | 5,464 | 4,262 |
Comprehensive income/(loss) attributable to noncontrolling interests | 1 | 2 | 3 | 2 |
Comprehensive income attributable to Ford Motor Company | $1,600 | $2,018 | $5,461 | $4,260 |
CONSOLIDATED_AND_SECTOR_BALANC
CONSOLIDATED AND SECTOR BALANCE SHEET (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and cash equivalents | $14,752 | $15,659 |
Marketable securities | 22,890 | 20,284 |
Finance receivables, net | 73,418 | 71,510 |
Other receivables, net | 11,693 | 10,828 |
Net investment in operating leases | 20,959 | 16,451 |
Inventories | 8,799 | 7,362 |
Equity in net assets of affiliated companies | 3,466 | 3,246 |
Net property | 26,836 | 24,942 |
Deferred income taxes | 13,023 | 15,185 |
Net intangible assets | 86 | 87 |
Assets held for sale | 98 | 0 |
Other assets | 5,051 | 5,000 |
Total assets | 201,071 | 190,554 |
LIABILITIES | ' | ' |
Payables | 21,640 | 19,308 |
Accrued liabilities and deferred revenue | 47,333 | 49,407 |
Debt | 110,622 | 105,058 |
Deferred income taxes | 637 | 470 |
Total liabilities | 180,232 | 174,243 |
Redeemable noncontrolling interest | 329 | 322 |
EQUITY | ' | ' |
Capital in excess of par value of stock | 21,378 | 20,976 |
Retained earnings | 21,014 | 18,077 |
Accumulated other comprehensive income/(loss) | -21,509 | -22,854 |
Treasury stock | -456 | -292 |
Total equity attributable to Ford Motor Company | 20,467 | 15,947 |
Equity attributable to noncontrolling interests | 43 | 42 |
Total equity | 20,510 | 15,989 |
Total liabilities and equity | 201,071 | 190,554 |
Common Stock [Member] | ' | ' |
EQUITY | ' | ' |
Common and Class B Stock | 39 | 39 |
Class B Stock [Member] | ' | ' |
EQUITY | ' | ' |
Common and Class B Stock | 1 | 1 |
Intersector [Member] | ' | ' |
ASSETS | ' | ' |
Deferred income taxes | 14,694 | 16,997 |
Total assets | 202,742 | 192,366 |
LIABILITIES | ' | ' |
Deferred income taxes | 2,308 | 2,282 |
Total liabilities | 181,903 | 176,055 |
EQUITY | ' | ' |
Total liabilities and equity | 202,742 | 192,366 |
Automotive [Member] | ' | ' |
ASSETS | ' | ' |
Cash and cash equivalents | 5,660 | 6,247 |
Marketable securities | 20,485 | 18,178 |
Total cash and marketable securities | 26,145 | 24,425 |
Receivables, less allowances | 6,141 | 5,361 |
Inventories | 8,799 | 7,362 |
Deferred income taxes | 2,943 | 3,488 |
Net investment in operating leases | 1,834 | 1,415 |
Other current assets | 878 | 1,124 |
Current receivable from Financial Services | 222 | 0 |
Total current assets | 46,962 | 43,175 |
Equity in net assets of affiliated companies | 3,340 | 3,112 |
Net property | 26,713 | 24,813 |
Deferred income taxes | 11,583 | 13,325 |
Net intangible assets | 86 | 87 |
Other assets | 2,190 | 1,946 |
Non-current receivable from Financial Services | 297 | 0 |
Total assets | 91,171 | 86,458 |
LIABILITIES | ' | ' |
Payables | 20,168 | 18,151 |
Accrued liabilities and deferred revenue | 43,299 | 45,907 |
Debt | 15,824 | 14,256 |
Accrued liabilities and deferred revenue | 16,419 | 15,358 |
Deferred income taxes | 207 | 81 |
Debt payable within one year | 1,313 | 1,386 |
Current payable to Financial Services | 0 | 252 |
Total current liabilities | 38,107 | 35,228 |
Long-term Debt | 14,511 | 12,870 |
Other liabilities | 26,880 | 30,549 |
Deferred income taxes | 389 | 514 |
Total liabilities | 79,887 | 79,161 |
Financial Services [Member] | ' | ' |
ASSETS | ' | ' |
Cash and cash equivalents | 9,092 | 9,412 |
Marketable securities | 2,405 | 2,106 |
Finance receivables, net | 78,021 | 75,770 |
Net investment in operating leases | 19,125 | 15,036 |
Equity in net assets of affiliated companies | 126 | 134 |
Assets held for sale | 98 | 0 |
Other assets | 3,223 | 3,450 |
Receivable from Automotive | 0 | 252 |
Total assets | 112,090 | 106,160 |
LIABILITIES | ' | ' |
Payables | 1,472 | 1,157 |
Accrued liabilities and deferred revenue | 4,034 | 3,500 |
Debt | 94,798 | 90,802 |
Deferred income taxes | 1,712 | 1,687 |
Other liabilities and deferred income | 4,034 | 3,500 |
Payable to Automotive | 519 | 0 |
Total liabilities | 102,535 | 97,146 |
Intersector Eliminations [Member] | ' | ' |
ASSETS | ' | ' |
Deferred income taxes | -1,671 | -1,812 |
Total assets | -519 | -252 |
LIABILITIES | ' | ' |
Deferred income taxes | -1,671 | -1,812 |
Total liabilities | -519 | -252 |
Variable Interest Entity, Primary Beneficiary [Member] | ' | ' |
ASSETS | ' | ' |
Cash and cash equivalents | 2,705 | 2,911 |
Finance receivables, net | 43,106 | 47,515 |
Net investment in operating leases | 6,963 | 6,308 |
Other assets | 4 | 4 |
LIABILITIES | ' | ' |
Accrued liabilities and deferred revenue | 76 | 134 |
Debt | 38,537 | 40,245 |
Variable Interest Entity, Primary Beneficiary [Member] | Financial Services [Member] | ' | ' |
ASSETS | ' | ' |
Cash and cash equivalents | 2,700 | 2,900 |
LIABILITIES | ' | ' |
Debt | $38,500 | $40,200 |
CONSOLIDATED_AND_SECTOR_BALANC1
CONSOLIDATED AND SECTOR BALANCE SHEET (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, except Per Share data, unless otherwise specified | ||
Common Stock [Member] | ' | ' |
EQUITY | ' | ' |
Common Stock, par value (in dollars per share) | $0.01 | ' |
Common Stock, shares issued (in shares) | 3,911 | ' |
Class B Stock [Member] | ' | ' |
EQUITY | ' | ' |
Common Stock, par value (in dollars per share) | $0.01 | ' |
Common Stock, shares issued (in shares) | 71 | ' |
Automotive [Member] | ' | ' |
ASSETS | ' | ' |
Allowance for receivables | $126 | $115 |
CONSOLIDATED_AND_SECTOR_STATEM
CONSOLIDATED AND SECTOR STATEMENT OF CASH FLOWS (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities of continuing operations | ' | ' |
Net cash provided by/(used in) operating activities | $10,129 | $9,406 |
Cash flows from investing activities of continuing operations | ' | ' |
Capital expenditures | -4,659 | -3,603 |
Acquisitions of retail and other finance receivables and operating leases | -33,926 | -29,034 |
Collections of retail and other finance receivables and operating leases | 25,431 | 23,933 |
Purchases of securities | -96,614 | -66,232 |
Sales and maturities of securities | 94,064 | 63,119 |
Cash change due to initial consolidation of businesses | 9 | 191 |
Proceeds from sale of business | 0 | 65 |
Settlements of derivatives | -247 | -681 |
Proceeds from sales of retail finance receivables | 410 | 0 |
Other | 212 | -381 |
Net cash provided by/(used in) investing activities | -15,320 | -12,623 |
Cash flows from financing activities of continuing operations | ' | ' |
Cash dividends | -1,179 | -572 |
Purchases of Common Stock | -164 | -92 |
Changes in short-term debt | -3,227 | -2,111 |
Proceeds from issuance of other debt | 28,946 | 25,272 |
Principal payments on other debt | -20,288 | -23,041 |
Other | 254 | 162 |
Net cash provided by/(used in) financing activities | 4,342 | -382 |
Effect of exchange rate changes on cash and cash equivalents | -58 | -10 |
Net increase/(decrease) in cash and cash equivalents | -907 | -3,609 |
Cash and cash equivalents | ' | ' |
Cash and cash equivalents at January 1 | 15,659 | 17,148 |
Net increase/(decrease) in cash and cash equivalents | -907 | -3,609 |
Cash and cash equivalents at end of period | 14,752 | 13,539 |
Automotive [Member] | ' | ' |
Cash flows from operating activities of continuing operations | ' | ' |
Net cash provided by/(used in) operating activities | 6,378 | 4,113 |
Cash flows from investing activities of continuing operations | ' | ' |
Capital expenditures | -4,635 | -3,580 |
Acquisitions of retail and other finance receivables and operating leases | 0 | 0 |
Collections of retail and other finance receivables and operating leases | 0 | 0 |
Net collections/(acquisitions) of wholesale receivables | 0 | 0 |
Purchases of securities | -71,471 | -50,166 |
Sales and maturities of securities | 69,246 | 47,534 |
Cash change due to initial consolidation of businesses | 9 | 191 |
Proceeds from sale of business | 0 | 54 |
Settlements of derivatives | -274 | -634 |
Proceeds from sales of retail finance receivables | 0 | 0 |
Investing activity (to)/from Financial Services | 298 | 794 |
Other | 194 | -279 |
Net cash provided by/(used in) investing activities | -6,633 | -6,086 |
Cash flows from financing activities of continuing operations | ' | ' |
Cash dividends | -1,179 | -572 |
Purchases of Common Stock | -164 | -92 |
Changes in short-term debt | -120 | 26 |
Proceeds from issuance of other debt | 2,175 | 1,502 |
Principal payments on other debt | -1,230 | -647 |
Financing activity to/(from) Automotive | 0 | 0 |
Other | 264 | 16 |
Net cash provided by/(used in) financing activities | -254 | 233 |
Effect of exchange rate changes on cash and cash equivalents | -78 | -5 |
Net increase/(decrease) in cash and cash equivalents | -587 | -1,745 |
Cash and cash equivalents | ' | ' |
Cash and cash equivalents at January 1 | 6,247 | 7,965 |
Net increase/(decrease) in cash and cash equivalents | -587 | -1,745 |
Cash and cash equivalents at end of period | 5,660 | 6,220 |
Financial Services [Member] | ' | ' |
Cash flows from operating activities of continuing operations | ' | ' |
Net cash provided by/(used in) operating activities | 4,928 | 3,624 |
Cash flows from investing activities of continuing operations | ' | ' |
Capital expenditures | -24 | -23 |
Acquisitions of retail and other finance receivables and operating leases | -34,015 | -29,036 |
Collections of retail and other finance receivables and operating leases | 25,431 | 23,933 |
Net collections/(acquisitions) of wholesale receivables | -1,088 | 1,671 |
Purchases of securities | -25,143 | -16,066 |
Sales and maturities of securities | 24,818 | 15,786 |
Cash change due to initial consolidation of businesses | 0 | 0 |
Proceeds from sale of business | 0 | 11 |
Settlements of derivatives | 27 | -47 |
Proceeds from sales of retail finance receivables | 410 | 0 |
Investing activity (to)/from Financial Services | 0 | 0 |
Other | 18 | -102 |
Net cash provided by/(used in) investing activities | -9,566 | -3,873 |
Cash flows from financing activities of continuing operations | ' | ' |
Cash dividends | 0 | 0 |
Purchases of Common Stock | 0 | 0 |
Changes in short-term debt | -3,107 | -2,137 |
Proceeds from issuance of other debt | 26,771 | 23,770 |
Principal payments on other debt | -19,058 | -22,595 |
Financing activity to/(from) Automotive | -298 | -794 |
Other | -10 | 146 |
Net cash provided by/(used in) financing activities | 4,298 | -1,610 |
Effect of exchange rate changes on cash and cash equivalents | 20 | -5 |
Net increase/(decrease) in cash and cash equivalents | -320 | -1,864 |
Cash and cash equivalents | ' | ' |
Cash and cash equivalents at January 1 | 9,412 | 9,183 |
Net increase/(decrease) in cash and cash equivalents | -320 | -1,864 |
Cash and cash equivalents at end of period | $9,092 | $7,319 |
CONSOLIDATED_STATEMENT_OF_EQUI
CONSOLIDATED STATEMENT OF EQUITY (USD $) | Total | Parent [Member] | Capital Stock [Member] | Capital in Excess of Par Value of Stock [Member] | Retained Earnings/(Accumulated Deficit) [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Equity (Deficit) Attributable to Non-controlling Interests [Member] |
In Millions, unless otherwise specified | ||||||||
Total equity/(deficit) at Dec. 31, 2011 | $15,071 | ' | ' | ' | ' | ' | ' | ' |
Equity/(Deficit) attributable to noncontrolling interests at Dec. 31, 2011 | 43 | ' | ' | ' | ' | ' | ' | ' |
Equity/(deficit) attributable to Ford Motor Company at Dec. 31, 2011 | 15,028 | ' | 38 | 20,905 | 12,985 | -18,734 | -166 | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Ford Motor Company | 4,067 | ' | 0 | 0 | 4,067 | 0 | 0 | ' |
Income/(Loss) attributable to noncontrolling interests | 2 | ' | ' | ' | ' | ' | ' | ' |
Net income | 4,069 | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income/(loss), net of tax | 193 | 193 | 0 | 0 | 0 | 193 | 0 | 0 |
Common stock issued (including share-based compensation impacts) | 27 | 27 | 1 | 26 | 0 | 0 | 0 | 0 |
Treasury stock/other | -92 | -92 | 0 | 0 | 0 | 0 | -92 | 0 |
Cash dividends declared | -382 | -382 | 0 | 0 | -382 | 0 | 0 | 0 |
Total equity/(deficit) at Sep. 30, 2012 | 18,886 | ' | ' | ' | ' | ' | ' | ' |
Equity/(Deficit) attributable to noncontrolling interests at Sep. 30, 2012 | 45 | ' | ' | ' | ' | ' | ' | ' |
Equity/(deficit) attributable to Ford Motor Company at Sep. 30, 2012 | 18,841 | ' | 39 | 20,931 | 16,670 | -18,541 | -258 | ' |
Total equity/(deficit) at Dec. 31, 2012 | 15,989 | ' | ' | ' | ' | ' | ' | ' |
Equity/(Deficit) attributable to noncontrolling interests at Dec. 31, 2012 | 42 | ' | ' | ' | ' | ' | ' | ' |
Equity/(deficit) attributable to Ford Motor Company at Dec. 31, 2012 | 15,947 | ' | 40 | 20,976 | 18,077 | -22,854 | -292 | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Ford Motor Company | 4,116 | ' | 0 | 0 | 4,116 | 0 | 0 | ' |
Income/(Loss) attributable to noncontrolling interests | 3 | ' | ' | ' | ' | ' | ' | ' |
Net income | 4,119 | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income/(loss), net of tax | 1,345 | 1,345 | 0 | 0 | 0 | 1,345 | 0 | 0 |
Common stock issued (including share-based compensation impacts) | 402 | 402 | 0 | 402 | 0 | 0 | 0 | 0 |
Treasury stock/other | -166 | -164 | 0 | 0 | 0 | 0 | -164 | -2 |
Cash dividends declared | -1,179 | -1,179 | 0 | 0 | -1,179 | 0 | 0 | 0 |
Total equity/(deficit) at Sep. 30, 2013 | 20,510 | ' | ' | ' | ' | ' | ' | ' |
Equity/(Deficit) attributable to noncontrolling interests at Sep. 30, 2013 | 43 | ' | ' | ' | ' | ' | ' | ' |
Equity/(deficit) attributable to Ford Motor Company at Sep. 30, 2013 | $20,467 | ' | $40 | $21,378 | $21,014 | ($21,509) | ($456) | ' |
Presentation
Presentation | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||
PRESENTATION | ' | |||||||
PRESENTATION | ||||||||
Our financial statements are presented in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and instructions to the Quarterly Report on Form 10-Q and Rule 10-01 of Regulation S-X. We show certain of our financial statements on both a consolidated and a sector basis for our Automotive and Financial Services sectors. Intercompany items have been eliminated in both the consolidated and sector balance sheets. Where the presentation of these intercompany eliminations or consolidated adjustments differs between the consolidated and sector financial statements, reconciliations of certain line items are explained below in this Note or in related footnotes. | ||||||||
In the opinion of management, these unaudited financial statements reflect a fair statement of the results of operations and financial condition of Ford Motor Company, its consolidated subsidiaries, and consolidated VIEs of which we are the primary beneficiary 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, 2012 (“2012 Form 10-K Report”). 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 reclassified certain prior year amounts in our consolidated financial statements to conform to current year presentation. | ||||||||
Adoption of New Accounting Standards | ||||||||
Derivatives and Hedging - Inclusion of the Fed Funds Effective Swap Rate (“OIS rate”) as a Benchmark Interest Rate for Hedge Accounting Purposes. On July 17, 2013, we adopted the new accounting standard that permits the use of the OIS rate as an acceptable U.S. benchmark interest rate for hedge accounting purposes and removes the restriction on using different benchmark rates for similar hedges. The adoption of this accounting standard did not impact our consolidated financial statements. | ||||||||
Balance Sheet - Offsetting. On January 1, 2013, we adopted the new accounting standard that requires disclosures about offsetting and related arrangements for derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions. See Note 3 and Note 12 for further disclosure regarding balance sheet offsetting. | ||||||||
Intangibles - Goodwill and Other. On January 1, 2013, we adopted the new accounting standard that provides the option to evaluate qualitative factors to determine whether a calculated impairment test for indefinite-lived intangible assets is necessary. The adoption of this accounting standard did not impact our consolidated financial statements. | ||||||||
Comprehensive Income - Reporting of Reclassification Adjustments. During 2012, we early adopted the new accounting standard that requires us to disclose significant amounts reclassified out of each component of Accumulated other comprehensive income/(loss) (“AOCI”) and the affected income statement line item only if the item reclassified is required to be reclassified to net income in its entirety. See Note 14 for further disclosure regarding the significant amounts reclassified out of AOCI. | ||||||||
NOTE 1. PRESENTATION (Continued) | ||||||||
Reconciliations between Consolidated and Sector Financial Statements | ||||||||
Sector to Consolidated Deferred Tax Assets and Liabilities. The difference between the total assets and total liabilities as presented in our sector balance sheet and consolidated balance sheet is the result of netting deferred income tax assets and liabilities. The reconciliation between the totals for the sector and consolidated balance sheets was as follows (in millions): | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Sector balance sheet presentation of deferred income tax assets | ||||||||
Automotive sector current deferred income tax assets | $ | 2,943 | $ | 3,488 | ||||
Automotive sector non-current deferred income tax assets | 11,583 | 13,325 | ||||||
Financial Services sector deferred income tax assets (a) | 168 | 184 | ||||||
Total | 14,694 | 16,997 | ||||||
Reclassification for netting of deferred income taxes | (1,671 | ) | (1,812 | ) | ||||
Consolidated balance sheet presentation of deferred income tax assets | $ | 13,023 | $ | 15,185 | ||||
Sector balance sheet presentation of deferred income tax liabilities | ||||||||
Automotive sector current deferred income tax liabilities | $ | 207 | $ | 81 | ||||
Automotive sector non-current deferred income tax liabilities | 389 | 514 | ||||||
Financial Services sector deferred income tax liabilities | 1,712 | 1,687 | ||||||
Total | 2,308 | 2,282 | ||||||
Reclassification for netting of deferred income taxes | (1,671 | ) | (1,812 | ) | ||||
Consolidated balance sheet presentation of deferred income tax liabilities | $ | 637 | $ | 470 | ||||
__________ | ||||||||
(a) | Financial Services deferred income tax assets are included in Financial Services other assets on our sector balance sheet. | |||||||
NOTE 1. PRESENTATION (Continued) | ||||||||
Sector to Consolidated Cash Flow. We present certain cash flows from wholesale receivables, finance receivables and the acquisition of intersector debt differently on our sector and consolidated statements of cash flows. The reconciliation between totals for the sector and consolidated cash flows for the periods ended September 30 was as follows (in millions): | ||||||||
First Nine Months | ||||||||
2013 | 2012 | |||||||
Automotive net cash provided by/(used in) operating activities | $ | 6,378 | $ | 4,113 | ||||
Financial Services net cash provided by/(used in) operating activities | 4,928 | 3,624 | ||||||
Total sector net cash provided by/(used in) operating activities | 11,306 | 7,737 | ||||||
Reclassifications from investing to operating cash flows | ||||||||
Wholesale receivables (a) | (1,088 | ) | 1,671 | |||||
Finance receivables (b) | (89 | ) | (2 | ) | ||||
Consolidated net cash provided by/(used in) operating activities | $ | 10,129 | $ | 9,406 | ||||
Automotive net cash provided by/(used in) investing activities | $ | (6,633 | ) | $ | (6,086 | ) | ||
Financial Services net cash provided by/(used in) investing activities | (9,566 | ) | (3,873 | ) | ||||
Total sector net cash provided by/(used in) investing activities | (16,199 | ) | (9,959 | ) | ||||
Reclassifications from investing to operating cash flows | ||||||||
Wholesale receivables (a) | 1,088 | (1,671 | ) | |||||
Finance receivables (b) | 89 | 2 | ||||||
Reclassifications from investing to financing cash flows | ||||||||
Maturity of Financial Services sector debt held by Automotive sector (c) | — | (201 | ) | |||||
Elimination of investing activity to/(from) Financial Services in consolidation | (298 | ) | (794 | ) | ||||
Consolidated net cash provided by/(used in) investing activities | $ | (15,320 | ) | $ | (12,623 | ) | ||
Automotive net cash provided by/(used in) financing activities | $ | (254 | ) | $ | 233 | |||
Financial Services net cash provided by/(used in) financing activities | 4,298 | (1,610 | ) | |||||
Total sector net cash provided by/(used in) financing activities | 4,044 | (1,377 | ) | |||||
Reclassifications from investing to financing cash flows | ||||||||
Maturity of Financial Services sector debt held by Automotive sector (c) | — | 201 | ||||||
Elimination of investing activity to/(from) Financial Services in consolidation | 298 | 794 | ||||||
Consolidated net cash provided by/(used in) financing activities | $ | 4,342 | $ | (382 | ) | |||
__________ | ||||||||
(a) | In addition to the cash flow from vehicles sold by us, the cash flow from wholesale finance receivables (being reclassified from investing to operating) includes dealer financing by Ford Credit of used and non-Ford vehicles. One hundred percent of cash flows from these wholesale finance receivables have been reclassified for consolidated presentation as the portion of these cash flows from used and non-Ford vehicles is impracticable to separate. | |||||||
(b) | Includes cash flows of finance receivables purchased/collected by the Financial Services sector from certain divisions and subsidiaries of the Automotive sector. | |||||||
(c) | Cash inflows related to these transactions are reported as financing activities on the consolidated statement of cash flows and investing activities on the sector statement of cash flows. | |||||||
NOTE 1. PRESENTATION (Continued) | ||||||||
Venezuelan Operations | ||||||||
In February 2013, the Venezuelan government announced a devaluation of the bolivar, effective February 13, 2013. The devaluation, from an exchange rate of 4.3 bolivars to the U.S. dollar to an exchange rate of 6.3 bolivars to the U.S. dollar, resulted in a remeasurement loss of $186 million in the first quarter. For periods subsequent to the date of the devaluation, assets, liabilities, and results of operations from our Venezuelan subsidiary are remeasured at this new exchange rate, including $704 million of cash and cash equivalents at the end of the third quarter of 2013. At September 30, 2013, our investment in our Venezuelan subsidiary (which includes undistributed earnings) was $802 million. Also, at September 30, 2013, it had $283 million of U.S. dollar currency exchange requests pending with and in transit to the Commission for Administration of Foreign Exchange (“CADIVI”), including $274 million payable to other Ford consolidated affiliates. | ||||||||
The operating environment in Venezuela continues to be challenging, reflecting economic uncertainty and our limited ability to convert bolivars to U.S. dollars through CADIVI. Various restrictions on our ability to manage our operations, including restrictions on the distribution of foreign exchange by the authorities, have affected our Venezuelan operation’s ability to pay obligations denominated in U.S. dollars and are constraining parts availability and our ability to maintain normal production, thereby restricting our ability to benefit from our investment in this operation. |
Accounting_Standards_Issued_Bu
Accounting Standards Issued But Not Yet Adopted | 9 Months Ended |
Sep. 30, 2013 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
ACCOUNTING STANDARDS ISSUED BUT NOT YET ADOPTED | ' |
ACCOUNTING STANDARDS ISSUED BUT NOT YET ADOPTED | |
Income Taxes - Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. In July 2013, the Financial Accounting Standards Board (“FASB”) issued a new accounting standard that requires an unrecognized tax benefit to be presented as a decrease in a deferred tax asset where a net operating loss, a similar tax loss, or a tax credit carryforward exists and certain criteria are met. The new accounting standard is effective as of January 1, 2014 and is consistent with our present practice. | |
Foreign Currency Matters - Parent’s Accounting for Cumulative Translation Adjustment. In March 2013, the FASB issued a new accounting standard that clarifies the applicable guidance for a parent company’s accounting for the release of the cumulative translation adjustment into net income upon derecognition of certain subsidiaries or groups of assets within a foreign entity or of an investment in a foreign entity. The new accounting standard is effective as of | |
January 1, 2014 and is consistent with our present practice. | |
Liabilities - Obligations Resulting from Joint and Several Liability Arrangements. In February 2013, the FASB issued a new accounting standard that provides guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements. This new accounting standard is effective as of January 1, 2014 and we do not expect this standard to have a material impact on our consolidated financial statements or financial statement disclosures. |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||||||||||
FAIR VALUE MEASUREMENTS | ' | |||||||||||||||||||||||||||||||
FAIR VALUE MEASUREMENTS | ||||||||||||||||||||||||||||||||
Cash equivalents, marketable securities, and derivative financial instruments are presented in our financial statements on a recurring basis at fair value, while other assets and liabilities are measured at fair value on a nonrecurring basis, such as when we have an asset impairment. | ||||||||||||||||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||||||||||||||||
In measuring fair value, we use various valuation methodologies and prioritize the use of observable inputs. The use of observable and unobservable inputs and their significance in measuring fair value are reflected in our fair value hierarchy assessment. | ||||||||||||||||||||||||||||||||
• | Level 1 - inputs include quoted prices for identical instruments and are the most observable | |||||||||||||||||||||||||||||||
• | Level 2 - inputs include quoted prices for similar instruments and observable inputs such as interest rates, currency exchange rates, and yield curves | |||||||||||||||||||||||||||||||
• | Level 3 - inputs include data not observable in the market and reflect management judgment about the assumptions market participants would use in pricing the instruments | |||||||||||||||||||||||||||||||
We review the inputs to the fair value measurements to ensure they are appropriately categorized within the fair value hierarchy. Transfers into and transfers out of the hierarchy levels are recognized as if they had taken place at the end of the reporting period. | ||||||||||||||||||||||||||||||||
Valuation Methodologies | ||||||||||||||||||||||||||||||||
Cash and Cash Equivalents. Included in Cash and cash equivalents are highly liquid investments that are readily convertible to known amounts of cash, and which 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 90 days 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 balance sheet and are excluded from the tables below. | ||||||||||||||||||||||||||||||||
Marketable Securities. Investments in securities with a maturity date greater than 90 days 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. We generally measure fair value using prices obtained from pricing services. Pricing methodologies and inputs to valuation models used by the pricing services depend on the security type (i.e., asset class). Where possible, fair values are generated using market inputs including quoted prices (the closing price in an exchange market), bid prices (the price at which a buyer stands ready to purchase), and other market information. For fixed income securities that are not actively traded, the pricing services use alternative methods to determine fair value for the securities, including quotes for similar fixed-income securities, matrix pricing, discounted cash flow using benchmark curves, or other factors. In certain cases, when market data are not available, we may use broker quotes to determine fair value. | ||||||||||||||||||||||||||||||||
An annual review is performed on the security prices received from our pricing services, which includes discussion and analysis of the inputs used by the pricing services to value our securities. We also compare the price of certain securities sold close to the quarter end to the price of the same security at the balance sheet date to ensure the reported fair value is reasonable. | ||||||||||||||||||||||||||||||||
We have entered into repurchase agreements with certain counterparties where we are the transferee. These agreements allow us to offset our entire gross exposure in the event of default or breach of contract. The gross value of these assets and liabilities reflected on our balance sheet at September 30, 2013 and December 31, 2012 was $202 million and $51 million, respectively. | ||||||||||||||||||||||||||||||||
NOTE 3. FAIR VALUE MEASUREMENTS (Continued) | ||||||||||||||||||||||||||||||||
Derivative Financial Instruments. Our derivatives are over-the-counter customized derivative transactions and are not exchange traded. We estimate the fair value of these instruments using industry-standard valuation models such as a discounted cash flow. These models project future cash flows and discount the future amounts to a present value using market-based expectations for interest rates, foreign exchange rates, commodity prices, and the contractual terms of the derivative instruments. The discount rate used is the relevant interbank deposit rate (e.g., LIBOR) plus an adjustment for non-performance risk. The adjustment reflects the full credit default swap (“CDS”) spread applied to a net exposure, by counterparty, considering the master netting agreements and posted collateral. We use our counterparty’s CDS spread when we are in a net asset position and our own CDS spread when we are in a net liability position. In certain cases, market data are not available and we use broker quotes and models (e.g., Black-Scholes) to determine fair value. This includes situations where there is lack of liquidity for a particular currency or commodity or when the instrument is longer-dated. | ||||||||||||||||||||||||||||||||
Finance Receivables. We measure finance receivables at fair value for purposes of disclosure (see Note 5) using internal valuation models. These models project future cash flows of financing contracts based on scheduled contract payments (including principal and interest). The projected cash flows are discounted to present value based on assumptions regarding credit losses, pre-payment speed, and applicable spreads to approximate current rates. Our assumptions regarding pre-payment speed and credit losses are based on historical performance. The fair value of finance receivables is categorized within Level 3 of the hierarchy. | ||||||||||||||||||||||||||||||||
On a nonrecurring basis, when retail contracts are greater than 120 days past due or deemed to be uncollectible, or if individual dealer loans are probable of foreclosure, we use the fair value of collateral, adjusted for estimated costs to sell, to determine the fair value of our receivables. The collateral for a retail receivable is the vehicle financed, and for dealer loans is real estate or other property. | ||||||||||||||||||||||||||||||||
The fair value of collateral for retail receivables is calculated based on the number of contracts multiplied by the loss severity and the probability of default (“POD”) percentage, or the outstanding receivable balances multiplied by the average recovery value (“ARV”) percentage to determine the fair value adjustment. | ||||||||||||||||||||||||||||||||
The nonrecurring fair value measurements for dealer loans are based on an assessment of the estimated fair value of collateral. The assessment is performed by reviewing various appraisals, which include total adjusted appraised value of land and improvements, alternate use appraised value, broker’s opinion of value, and purchase offers. The fair value adjustment is determined by comparing the net carrying value of the dealer loan and the estimated fair value of collateral. | ||||||||||||||||||||||||||||||||
Debt. We measure debt at fair value for purposes of disclosure (see Note 11) using quoted prices for our own debt with approximately the same remaining maturities, where possible. Where quoted prices are not available, we estimate fair value using discounted cash flows and market-based expectations for interest rates, credit risk, and the contractual terms of the debt instruments. For certain short-term debt with an original maturity date of one year or less, we assume that book value is a reasonable approximation of the debt’s fair value. The fair value of debt is categorized within Level 2 of the hierarchy. | ||||||||||||||||||||||||||||||||
NOTE 3. FAIR VALUE MEASUREMENTS (Continued) | ||||||||||||||||||||||||||||||||
Input Hierarchy of Items Measured at Fair Value on a Recurring Basis | ||||||||||||||||||||||||||||||||
The following tables categorize the fair values of items measured at fair value on a recurring basis on our balance sheet (in millions): | ||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||
Automotive Sector | ||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Cash equivalents – financial instruments | ||||||||||||||||||||||||||||||||
U.S. government | $ | 16 | $ | — | $ | — | $ | 16 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
U.S. government-sponsored enterprises | — | 5 | — | 5 | — | 718 | — | 718 | ||||||||||||||||||||||||
Non-U.S. government | — | 72 | — | 72 | — | 139 | — | 139 | ||||||||||||||||||||||||
Non-U.S. government agencies (a) | — | 20 | — | 20 | — | 365 | — | 365 | ||||||||||||||||||||||||
Corporate debt | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Total cash equivalents – financial instruments (b) | 16 | 97 | — | 113 | — | 1,222 | — | 1,222 | ||||||||||||||||||||||||
Marketable securities | ||||||||||||||||||||||||||||||||
U.S. government | 4,924 | — | — | 4,924 | 4,493 | — | — | 4,493 | ||||||||||||||||||||||||
U.S. government-sponsored enterprises | — | 5,895 | — | 5,895 | — | 5,459 | — | 5,459 | ||||||||||||||||||||||||
Non-U.S. government agencies (a) | — | 5,830 | — | 5,830 | — | 4,794 | — | 4,794 | ||||||||||||||||||||||||
Corporate debt | — | 2,316 | — | 2,316 | — | 1,871 | — | 1,871 | ||||||||||||||||||||||||
Mortgage-backed and other asset-backed | — | 296 | — | 296 | — | 25 | — | 25 | ||||||||||||||||||||||||
Equities | 295 | — | — | 295 | 142 | — | — | 142 | ||||||||||||||||||||||||
Non-U.S. government | — | 911 | — | 911 | — | 1,367 | — | 1,367 | ||||||||||||||||||||||||
Other liquid investments (c) | — | 18 | — | 18 | — | 27 | — | 27 | ||||||||||||||||||||||||
Total marketable securities | 5,219 | 15,266 | — | 20,485 | 4,635 | 13,543 | — | 18,178 | ||||||||||||||||||||||||
Derivative financial instruments | ||||||||||||||||||||||||||||||||
Foreign currency exchange contracts | — | 442 | — | 442 | — | 218 | — | 218 | ||||||||||||||||||||||||
Commodity contracts | — | 20 | 3 | 23 | — | 19 | 4 | 23 | ||||||||||||||||||||||||
Total derivative financial instruments (d) | — | 462 | 3 | 465 | — | 237 | 4 | 241 | ||||||||||||||||||||||||
Total assets at fair value | $ | 5,235 | $ | 15,825 | $ | 3 | $ | 21,063 | $ | 4,635 | $ | 15,002 | $ | 4 | $ | 19,641 | ||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||
Derivative financial instruments | ||||||||||||||||||||||||||||||||
Foreign currency exchange contracts | $ | — | $ | 390 | $ | — | $ | 390 | $ | — | $ | 486 | $ | — | $ | 486 | ||||||||||||||||
Commodity contracts | — | 20 | 2 | 22 | — | 112 | 12 | 124 | ||||||||||||||||||||||||
Total derivative financial instruments (d) | — | 410 | 2 | 412 | — | 598 | 12 | 610 | ||||||||||||||||||||||||
Total liabilities at fair value | $ | — | $ | 410 | $ | 2 | $ | 412 | $ | — | $ | 598 | $ | 12 | $ | 610 | ||||||||||||||||
__________ | ||||||||||||||||||||||||||||||||
(a) | Includes notes issued by non-U.S. government agencies, as well as notes issued by supranational institutions. | |||||||||||||||||||||||||||||||
(b) | Excludes time deposits, certificates of deposit, money market accounts, and other cash equivalents reported at par value on our balance sheet totaling $2.5 billion and $3 billion at September 30, 2013 and December 31, 2012, respectively, for the Automotive sector. In addition to these cash equivalents, our Automotive sector also had cash on hand totaling $3.1 billion and $2 billion at September 30, 2013 and December 31, 2012, respectively. | |||||||||||||||||||||||||||||||
(c) | Includes certificates of deposit and time deposits subject to changes in value. | |||||||||||||||||||||||||||||||
(d) | See Note 12 for additional information regarding derivative financial instruments. | |||||||||||||||||||||||||||||||
NOTE 3. FAIR VALUE MEASUREMENTS (Continued) | ||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||
Financial Services Sector | ||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Cash equivalents – financial instruments | ||||||||||||||||||||||||||||||||
U.S. government | $ | — | $ | — | $ | — | $ | — | $ | 200 | $ | — | $ | — | $ | 200 | ||||||||||||||||
U.S. government-sponsored enterprises | — | — | — | — | — | 20 | — | 20 | ||||||||||||||||||||||||
Non-U.S. government | — | 66 | — | 66 | — | 103 | — | 103 | ||||||||||||||||||||||||
Corporate debt | — | — | — | — | — | 1 | — | 1 | ||||||||||||||||||||||||
Total cash equivalents – financial instruments (a) | — | 66 | — | 66 | 200 | 124 | — | 324 | ||||||||||||||||||||||||
Marketable securities | ||||||||||||||||||||||||||||||||
U.S. government | 611 | — | — | 611 | 620 | — | — | 620 | ||||||||||||||||||||||||
U.S. government-sponsored enterprises | — | 457 | — | 457 | — | 12 | — | 12 | ||||||||||||||||||||||||
Non-U.S. government agencies | — | 4 | — | 4 | — | 95 | — | 95 | ||||||||||||||||||||||||
Corporate debt | — | 1,228 | — | 1,228 | — | 1,155 | — | 1,155 | ||||||||||||||||||||||||
Mortgage-backed and other asset-backed | — | 46 | — | 46 | — | 67 | — | 67 | ||||||||||||||||||||||||
Non-U.S. government | — | 59 | — | 59 | — | 142 | — | 142 | ||||||||||||||||||||||||
Other liquid investments (b) | — | — | — | — | — | 15 | — | 15 | ||||||||||||||||||||||||
Total marketable securities | 611 | 1,794 | — | 2,405 | 620 | 1,486 | — | 2,106 | ||||||||||||||||||||||||
Derivative financial instruments | ||||||||||||||||||||||||||||||||
Interest rate contracts | — | 853 | — | 853 | — | 1,291 | — | 1,291 | ||||||||||||||||||||||||
Foreign currency exchange contracts | — | 12 | — | 12 | — | 9 | — | 9 | ||||||||||||||||||||||||
Cross-currency interest rate swap contracts | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Total derivative financial instruments (c) | — | 865 | — | 865 | — | 1,300 | — | 1,300 | ||||||||||||||||||||||||
Total assets at fair value | $ | 611 | $ | 2,725 | $ | — | $ | 3,336 | $ | 820 | $ | 2,910 | $ | — | $ | 3,730 | ||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||
Derivative financial instruments | ||||||||||||||||||||||||||||||||
Interest rate contracts | $ | — | $ | 319 | $ | — | $ | 319 | $ | — | $ | 256 | $ | — | $ | 256 | ||||||||||||||||
Foreign currency exchange contracts | — | 65 | — | 65 | — | 8 | — | 8 | ||||||||||||||||||||||||
Cross-currency interest rate swap contracts | — | 171 | — | 171 | — | 117 | — | 117 | ||||||||||||||||||||||||
Total derivative financial instruments (c) | — | 555 | — | 555 | — | 381 | — | 381 | ||||||||||||||||||||||||
Total liabilities at fair value | $ | — | $ | 555 | $ | — | $ | 555 | $ | — | $ | 381 | $ | — | $ | 381 | ||||||||||||||||
__________ | ||||||||||||||||||||||||||||||||
(a) | Excludes time deposits, certificates of deposit, and money market accounts reported at par value on our balance sheet totaling $4.5 billion and $6.5 billion at September 30, 2013 and December 31, 2012, respectively. In addition to these cash equivalents, we also had cash on hand totaling $4.5 billion and $2.6 billion at September 30, 2013 and December 31, 2012, respectively. | |||||||||||||||||||||||||||||||
(b) | Includes certificates of deposit and time deposits subject to changes in value. | |||||||||||||||||||||||||||||||
(c) | See Note 12 for additional information regarding derivative financial instruments. | |||||||||||||||||||||||||||||||
NOTE 3. FAIR VALUE MEASUREMENTS (Continued) | ||||||||||||||||||||||||||||||||
Input Hierarchy of Items Measured at Fair Value on a Nonrecurring Basis | ||||||||||||||||||||||||||||||||
The following table summarizes the items measured at fair value subsequent to initial recognition on a nonrecurring basis, all of which are Level 3 (in millions): | ||||||||||||||||||||||||||||||||
September 30, | December 31, | |||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||
Financial Services Sector | ||||||||||||||||||||||||||||||||
North America | ||||||||||||||||||||||||||||||||
Retail receivables | $ | 36 | $ | 52 | ||||||||||||||||||||||||||||
Dealer loans | — | 2 | ||||||||||||||||||||||||||||||
Total North America | 36 | 54 | ||||||||||||||||||||||||||||||
International | ||||||||||||||||||||||||||||||||
Retail receivables | 23 | 26 | ||||||||||||||||||||||||||||||
Total International | 23 | 26 | ||||||||||||||||||||||||||||||
Total Financial Services sector | $ | 59 | $ | 80 | ||||||||||||||||||||||||||||
Nonrecurring Fair Value Changes | ||||||||||||||||||||||||||||||||
The following table summarizes the total change in value of items for which a nonrecurring fair value adjustment has been included in our income statement for the periods ended September 30, related to items still held on our balance sheet at those dates (in millions): | ||||||||||||||||||||||||||||||||
Total Gains/(Losses) | ||||||||||||||||||||||||||||||||
Third Quarter | First Nine Months | |||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
Financial Services Sector | ||||||||||||||||||||||||||||||||
North America | ||||||||||||||||||||||||||||||||
Retail receivables | $ | (6 | ) | $ | (6 | ) | $ | (17 | ) | $ | (14 | ) | ||||||||||||||||||||
Dealer loans | — | — | — | — | ||||||||||||||||||||||||||||
Total North America | (6 | ) | (6 | ) | (17 | ) | (14 | ) | ||||||||||||||||||||||||
International | ||||||||||||||||||||||||||||||||
Retail receivables | (2 | ) | (6 | ) | (7 | ) | (11 | ) | ||||||||||||||||||||||||
Total International | (2 | ) | (6 | ) | (7 | ) | (11 | ) | ||||||||||||||||||||||||
Total Financial Services sector | $ | (8 | ) | $ | (12 | ) | $ | (24 | ) | $ | (25 | ) | ||||||||||||||||||||
Fair value changes related to retail and dealer loan finance receivables that have been written down based on the fair value of collateral adjusted for estimated costs to sell are recorded in Financial Services provision for credit and insurance losses. | ||||||||||||||||||||||||||||||||
NOTE 3. FAIR VALUE MEASUREMENTS (Continued) | ||||||||||||||||||||||||||||||||
Information About Fair Value Measurements Using Significant Unobservable Inputs (Level 3) | ||||||||||||||||||||||||||||||||
The following table summarizes significant unobservable inputs and the variability of those inputs to alternate methodologies (in millions): | ||||||||||||||||||||||||||||||||
September 30, 2013 | 31-Dec-12 | |||||||||||||||||||||||||||||||
Valuation Technique | Unobservable Input | Fair Value | Fair Value Range | Fair Value | Fair Value Range | |||||||||||||||||||||||||||
Automotive Sector | ||||||||||||||||||||||||||||||||
Recurring basis | ||||||||||||||||||||||||||||||||
Net commodity contracts | Income Approach | Forward commodity prices for certain commodity types. A lower forward price will result in a lower fair value. | $1 | $0 - $1 | ($8) | $(7) - $(8) | ||||||||||||||||||||||||||
Financial Services Sector | ||||||||||||||||||||||||||||||||
Nonrecurring basis | ||||||||||||||||||||||||||||||||
Retail receivables | ||||||||||||||||||||||||||||||||
North America | Income Approach | POD percentage | $36 | $23 - $36 | $52 | $38 - $52 | ||||||||||||||||||||||||||
International | Income Approach | ARV percentage | $23 | $23 - $24 | $26 | $25 - $27 | ||||||||||||||||||||||||||
Dealer loans | Income Approach | Estimated fair value | $— | $— | $2 | $1 - $3 |
Restricted_Cash
Restricted Cash | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Restricted Cash and Investments [Abstract] | ' | |||||||
RESTRICTED CASH | ' | |||||||
RESTRICTED CASH | ||||||||
Cash and cash equivalents that are restricted as to withdrawal or use under the terms of certain contractual agreements are recorded in Other assets on our balance sheet. | ||||||||
Our Automotive sector restricted cash balances primarily include various escrow agreements related to legal, insurance, customs, and environmental matters. The December 31, 2012 balance included cash collateral required to be held against loans from the European Investment Bank (“EIB”). Our Financial Services sector restricted cash balances primarily include cash held to meet certain local governmental and regulatory reserve requirements and cash held under the terms of certain contractual agreements. | ||||||||
Restricted cash does not include required minimum balances or cash securing debt issued through securitization transactions. | ||||||||
Restricted cash balances were as follows (in millions): | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Automotive sector | $ | 16 | $ | 172 | ||||
Financial Services sector | 164 | 172 | ||||||
Total Company | $ | 180 | $ | 344 | ||||
Finance_Receivables
Finance Receivables | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Receivables [Abstract] | ' | |||||||||||||||||||||||
FINANCE RECEIVABLES | ' | |||||||||||||||||||||||
FINANCE RECEIVABLES | ||||||||||||||||||||||||
Finance receivable balances were as follows (in millions): | ||||||||||||||||||||||||
September 30, | December 31, | |||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Automotive sector (a) | $ | 160 | $ | 519 | ||||||||||||||||||||
Financial Services sector | 78,021 | 75,770 | ||||||||||||||||||||||
Reclassification of receivables purchased by Financial Services sector from Automotive sector to Other receivables, net | (4,763 | ) | (4,779 | ) | ||||||||||||||||||||
Finance receivables, net | $ | 73,418 | $ | 71,510 | ||||||||||||||||||||
__________ | ||||||||||||||||||||||||
(a) | Finance receivables are reported on our sector balance sheet in Receivables, less allowances and Other assets. | |||||||||||||||||||||||
Automotive Sector | ||||||||||||||||||||||||
Our Automotive sector notes receivable consist primarily of amounts loaned to our unconsolidated affiliates and suppliers. Performance of this group of receivables is evaluated based on payment activity and the financial stability of the debtor. Notes receivable initially are recorded at fair value and subsequently measured at amortized cost. | ||||||||||||||||||||||||
Financial Services Sector | ||||||||||||||||||||||||
Our Financial Services sector finance receivables primarily relate to Ford Credit, but also include the Other Financial Services segment and certain intersector eliminations. | ||||||||||||||||||||||||
Our Financial Services sector segments the North America and International portfolio of finance receivables into “consumer” and “non-consumer” receivables. Generally, receivables are secured by the vehicles, inventory, or other property being financed. | ||||||||||||||||||||||||
Consumer Segment. Receivables in this portfolio segment 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 direct financing leases with retail customers, government entities, daily rental companies, and fleet customers. | ||||||||||||||||||||||||
Non-Consumer Segment. Receivables in this portfolio segment include products offered to automotive dealers. The products include: | ||||||||||||||||||||||||
• | Dealer financing – wholesale loans to dealers to finance the purchase of vehicle inventory, also known as floorplan financing, and loans to dealers to finance working capital and improvements to dealership facilities, finance the purchase of dealership real estate, and other dealer program financing. Wholesale is approximately 94% of our dealer financing | |||||||||||||||||||||||
• | Other financing – purchased receivables primarily related to the sale of parts and accessories to dealers | |||||||||||||||||||||||
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. Amortized cost is the outstanding principal adjusted for any charge-offs, unamortized deferred fees or costs, and unearned interest supplements. | ||||||||||||||||||||||||
NOTE 5. FINANCE RECEIVABLES (Continued) | ||||||||||||||||||||||||
Finance receivables, net were as follows (in millions): | ||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||
North | International | Total Finance Receivables | North | International | Total Finance Receivables | |||||||||||||||||||
America | America | |||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||
Retail financing, gross | $ | 40,476 | $ | 10,327 | $ | 50,803 | $ | 39,504 | $ | 10,460 | $ | 49,964 | ||||||||||||
Less: Unearned interest supplements | (1,231 | ) | (251 | ) | (1,482 | ) | (1,264 | ) | (287 | ) | (1,551 | ) | ||||||||||||
Consumer finance receivables | $ | 39,245 | $ | 10,076 | $ | 49,321 | $ | 38,240 | $ | 10,173 | $ | 48,413 | ||||||||||||
Non-Consumer | ||||||||||||||||||||||||
Dealer financing | $ | 20,326 | $ | 7,608 | $ | 27,934 | $ | 19,429 | $ | 7,242 | $ | 26,671 | ||||||||||||
Other | 759 | 356 | 1,115 | 689 | 386 | 1,075 | ||||||||||||||||||
Non-Consumer finance receivables | 21,085 | 7,964 | 29,049 | 20,118 | 7,628 | 27,746 | ||||||||||||||||||
Total recorded investment | $ | 60,330 | $ | 18,040 | $ | 78,370 | $ | 58,358 | $ | 17,801 | $ | 76,159 | ||||||||||||
Recorded investment in finance receivables | $ | 60,330 | $ | 18,040 | $ | 78,370 | $ | 58,358 | $ | 17,801 | $ | 76,159 | ||||||||||||
Less: Allowance for credit losses | (275 | ) | (74 | ) | (349 | ) | (309 | ) | (80 | ) | (389 | ) | ||||||||||||
Finance receivables, net | $ | 60,055 | $ | 17,966 | $ | 78,021 | $ | 58,049 | $ | 17,721 | $ | 75,770 | ||||||||||||
Net finance receivables subject to fair value (a) | $ | 76,388 | $ | 73,618 | ||||||||||||||||||||
Fair value | 77,927 | 75,618 | ||||||||||||||||||||||
__________ | ||||||||||||||||||||||||
(a) | At September 30, 2013 and December 31, 2012, excludes $1.6 billion and $2.2 billion, respectively, of certain receivables (primarily direct financing leases) that are not subject to fair value disclosure requirements. All finance receivables are categorized within Level 3 of the fair value hierarchy. See Note 3 for additional information. | |||||||||||||||||||||||
Excluded from Financial Services sector finance receivables at September 30, 2013 and December 31, 2012, was $176 million and $183 million, respectively, of accrued uncollected interest, which we report in Other assets on the balance sheet. | ||||||||||||||||||||||||
Included in the recorded investment in finance receivables at September 30, 2013 and December 31, 2012 were North America consumer receivables of $21 billion and $23 billion and non-consumer receivables of $17.1 billion and $17.1 billion, respectively, and International consumer receivables of $4.9 billion and $6.6 billion and non-consumer receivables of $5 billion and $4.5 billion, respectively, that secure certain debt obligations. 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 of our Financial Services sector or the claims of our other creditors. We hold 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 (see Notes 8 and 11). | ||||||||||||||||||||||||
NOTE 5. FINANCE RECEIVABLES (Continued) | ||||||||||||||||||||||||
Aging. For all classes of finance receivables, we define “past due” as any payment, including principal and interest, that has not been collected and is at least 31 days past the contractual due date. Recorded investment of consumer accounts greater than 90 days past due and still accruing interest was $15 million and $13 million at September 30, 2013 and December 31, 2012, respectively. The recorded investment of non-consumer accounts greater than 90 days past due and still accruing interest was $5 million at September 30, 2013 and $5 million at December 31, 2012. | ||||||||||||||||||||||||
The aging analysis of our Financial Services sector finance receivables balances was as follows (in millions): | ||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||
North America | International | Total | North America | International | Total | |||||||||||||||||||
Consumer | ||||||||||||||||||||||||
31-60 days past due | $ | 631 | $ | 38 | $ | 669 | $ | 783 | $ | 50 | $ | 833 | ||||||||||||
61-90 days past due | 76 | 17 | 93 | 97 | 18 | 115 | ||||||||||||||||||
91-120 days past due | 20 | 9 | 29 | 21 | 9 | 30 | ||||||||||||||||||
Greater than 120 days past due | 36 | 27 | 63 | 52 | 29 | 81 | ||||||||||||||||||
Total past due | 763 | 91 | 854 | 953 | 106 | 1,059 | ||||||||||||||||||
Current | 38,482 | 9,985 | 48,467 | 37,287 | 10,067 | 47,354 | ||||||||||||||||||
Consumer finance receivables | $ | 39,245 | $ | 10,076 | $ | 49,321 | $ | 38,240 | $ | 10,173 | $ | 48,413 | ||||||||||||
Non-Consumer | ||||||||||||||||||||||||
Total past due | $ | 28 | $ | 39 | $ | 67 | $ | 29 | $ | 11 | $ | 40 | ||||||||||||
Current | 21,057 | 7,925 | 28,982 | 20,089 | 7,617 | 27,706 | ||||||||||||||||||
Non-Consumer finance receivables | 21,085 | 7,964 | 29,049 | 20,118 | 7,628 | 27,746 | ||||||||||||||||||
Total recorded investment | $ | 60,330 | $ | 18,040 | $ | 78,370 | $ | 58,358 | $ | 17,801 | $ | 76,159 | ||||||||||||
Consumer Credit Quality. When originating all classes of consumer receivables, we use a proprietary scoring system that measures the credit quality of the receivables using several factors, such as credit bureau information, consumer credit risk scores (e.g., FICO score), and contract characteristics. In addition to our proprietary scoring system, we consider other individual consumer factors, such as employment history, financial stability, and capacity to pay. | ||||||||||||||||||||||||
Subsequent to origination, we review the credit quality of our retail financing receivables based on customer payment activity. As each customer develops a payment history, we use an internally-developed behavioral scoring model to assist in determining the best collection strategies which allows us to focus collection activity on higher-risk accounts. These models are used to refine our risk-based staffing model to ensure collection resources are aligned with portfolio risk. Based on data from this scoring model, contracts are categorized by collection risk. Our collection models evaluate several factors, including origination characteristics, updated credit bureau data, and payment patterns. | ||||||||||||||||||||||||
Credit quality ratings for our consumer receivables are based on aging (as described in the aging table above). Consumer receivables credit quality ratings are as follows: | ||||||||||||||||||||||||
• | Pass – current to 60 days past due | |||||||||||||||||||||||
• | Special Mention – 61 to 120 days past due and in intensified collection status | |||||||||||||||||||||||
• | Substandard – greater than 120 days past due and for which the uncollectible portion of the receivables has already been charged-off, as measured using the fair value of collateral | |||||||||||||||||||||||
NOTE 5. FINANCE RECEIVABLES (Continued) | ||||||||||||||||||||||||
Non-Consumer Credit Quality. We extend credit to dealers primarily in the form of lines of credit to purchase new Ford and Lincoln vehicles as well as used vehicles. Payment is required when the dealer has sold the vehicle. Each non-consumer lending request is evaluated by taking into consideration the borrower’s financial condition and the underlying collateral securing the loan. We use 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 we consider most significant in predicting a dealer’s ability to meet its financial obligations. We also consider numerous other financial and qualitative factors including capitalization and leverage, liquidity and cash flow, profitability, and credit history with ourselves and other creditors. A dealer’s risk rating does not reflect any guarantees or a dealer owner’s net worth. | ||||||||||||||||||||||||
Dealers are assigned to one of four groups according to their risk rating as follows: | ||||||||||||||||||||||||
• | Group I – strong to superior financial metrics | |||||||||||||||||||||||
• | Group II – fair to favorable financial metrics | |||||||||||||||||||||||
• | Group III – marginal to weak financial metrics | |||||||||||||||||||||||
• | Group IV – poor financial metrics, including dealers classified as uncollectible | |||||||||||||||||||||||
We suspend credit lines and extend no further funding to dealers classified in Group IV. | ||||||||||||||||||||||||
We regularly review our model to confirm the continued business significance and statistical predictability of the factors and update the model to incorporate new factors or other information that improves its statistical predictability. In addition, we regularly audit dealer inventory and dealer sales records to verify that the dealer is in possession of the financed vehicles and is promptly paying each receivable following the sale of the financed vehicle. The frequency of on-site vehicle inventory audits depends on the dealer’s risk rating. Under our policies, on-site vehicle inventory audits of low-risk dealers are conducted only as circumstances warrant in North America and at least annually internationally, and audits of higher risk dealers are conducted with increased frequency based on risk ratings worldwide. We perform a credit review of each dealer at least annually and adjust the dealer's risk rating, if necessary. | ||||||||||||||||||||||||
The credit quality of non-consumer receivables is evaluated based on our internal dealer risk rating analysis. A dealer has the same risk rating for its entire dealer financing regardless of the type of financing. | ||||||||||||||||||||||||
The credit quality analysis of our dealer financing receivables were as follows (in millions): | ||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||
North America | International | Total | North America | International | Total | |||||||||||||||||||
Dealer Financing | ||||||||||||||||||||||||
Group I | $ | 17,006 | $ | 4,913 | $ | 21,919 | $ | 16,526 | $ | 4,551 | $ | 21,077 | ||||||||||||
Group II | 2,970 | 2,059 | 5,029 | 2,608 | 1,405 | 4,013 | ||||||||||||||||||
Group III | 349 | 603 | 952 | 277 | 1,279 | 1,556 | ||||||||||||||||||
Group IV | 1 | 33 | 34 | 18 | 7 | 25 | ||||||||||||||||||
Total recorded investment | $ | 20,326 | $ | 7,608 | $ | 27,934 | $ | 19,429 | $ | 7,242 | $ | 26,671 | ||||||||||||
Impaired Receivables. Impaired consumer receivables include accounts that have been rewritten or modified in reorganization proceedings pursuant to the U.S. Bankruptcy Code that are considered to be Troubled Debt Restructurings (“TDRs”), as well as all accounts greater than 120 days past due. Impaired non-consumer receivables represent accounts with dealers that have weak or poor financial metrics or dealer financing that has been modified in TDRs. The recorded investment of consumer receivables that were impaired at September 30, 2013 and December 31, 2012 was $424 million, or 0.9% of consumer receivables, and $422 million, or 0.9% of consumer receivables, respectively. The recorded investment of non-consumer receivables that were impaired at September 30, 2013 and December 31, 2012 was $58 million, or 0.2% of non-consumer receivables, and $47 million, or 0.2% of non-consumer receivables, respectively. Impaired finance receivables are evaluated both collectively and specifically. See Note 6 for additional information related to the development of our allowance for credit losses. | ||||||||||||||||||||||||
NOTE 5. FINANCE RECEIVABLES (Continued) | ||||||||||||||||||||||||
Non-Accrual Receivables. The accrual of revenue is discontinued at the earlier of the time a receivable is determined to be uncollectible, at bankruptcy status notification, or greater than 120 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 generally are applied first to outstanding interest and then to the unpaid principal balance. | ||||||||||||||||||||||||
The recorded investment of consumer receivables in non-accrual status was $249 million or 0.5% of our consumer receivables at September 30, 2013, and $304 million or 0.6% of our consumer receivables at December 31, 2012. The recorded investment of non-consumer receivables in non-accrual status was $34 million or 0.1% of our non-consumer receivables at September 30, 2013, and $29 million or 0.1% of our non-consumer receivables at December 31, 2012. | ||||||||||||||||||||||||
Troubled Debt Restructurings. A restructuring of debt constitutes a TDR if we grant a concession to a customer or borrower for economic or legal reasons related to the debtor’s financial difficulties that we otherwise would not consider. Consumer and non-consumer contracts 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 loans that are current with minimal risk of loss, are considered to be TDRs. We do not grant concessions on the principal balance of our loans. If a contract is modified in reorganization proceeding, all payment requirements of the reorganization plan need to be met before remaining balances are forgiven. The outstanding recorded investment at time of modification for consumer receivables that are considered to be TDRs was $171 million or 0.3% and $185 million or 0.4% of our consumer receivables during the period ended September 30, 2013 and 2012, respectively. The annualized subsequent default rate of TDRs that were previously modified in TDRs within the last twelve months and resulted in repossession for consumer contracts was 6.0% and 5.7% of TDRs at September 30, 2013 and 2012, respectively. There were no non-consumer loans involved in TDRs during the period ended September 30, 2013, and the outstanding recorded investment of non-consumer loans involved in TDRs was de minimis during the period ended September 30, 2012. | ||||||||||||||||||||||||
Finance receivables involved in TDRs are specifically assessed for impairment. An impairment charge is recorded as part of the provision to the allowance for credit losses for the amount that the recorded investment of the receivable exceeds its estimated fair value. Estimated fair value is based on either the present value of the expected future cash flows of the receivable discounted at the loan’s original effective interest rate, or, for loans where foreclosure is probable, the fair value of the collateral adjusted for estimated costs to sell. The allowance for credit losses related to all active consumer TDRs was $22 million and $18 million at September 30, 2013 and 2012, respectively. The allowance for credit losses related to all active non-consumer TDRs was de minimis at September 30, 2013 and 2012. |
Allowance_for_Credit_Losses
Allowance for Credit Losses | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Allowance For Credit Losses [Abstract] | ' | |||||||||||||||||||
ALLOWANCE FOR CREDIT LOSSES | ' | |||||||||||||||||||
ALLOWANCE FOR CREDIT LOSSES | ||||||||||||||||||||
Financial Services Sector | ||||||||||||||||||||
Following is an analysis of the allowance for credit losses related to finance receivables and net investment in operating leases for the periods ended September 30 (in millions): | ||||||||||||||||||||
Third Quarter 2013 | ||||||||||||||||||||
Finance Receivables | Net Investment in | |||||||||||||||||||
Consumer | Non-Consumer | Total | Operating Leases | Total Allowance | ||||||||||||||||
Allowance for credit losses | ||||||||||||||||||||
Beginning balance | $ | 324 | $ | 31 | $ | 355 | $ | 23 | $ | 378 | ||||||||||
Charge-offs | (71 | ) | (3 | ) | (74 | ) | (17 | ) | (91 | ) | ||||||||||
Recoveries | 32 | 1 | 33 | 11 | 44 | |||||||||||||||
Provision for credit losses | 32 | (1 | ) | 31 | 1 | 32 | ||||||||||||||
Other (a) | 3 | 1 | 4 | 1 | 5 | |||||||||||||||
Ending balance | $ | 320 | $ | 29 | $ | 349 | $ | 19 | $ | 368 | ||||||||||
First Nine Months 2013 | ||||||||||||||||||||
Finance Receivables | Net Investment in | |||||||||||||||||||
Consumer | Non-Consumer | Total | Operating Leases | Total Allowance | ||||||||||||||||
Allowance for credit losses | ||||||||||||||||||||
Beginning balance | $ | 360 | $ | 29 | $ | 389 | $ | 23 | $ | 412 | ||||||||||
Charge-offs | (212 | ) | (13 | ) | (225 | ) | (47 | ) | (272 | ) | ||||||||||
Recoveries | 109 | 4 | 113 | 35 | 148 | |||||||||||||||
Provision for credit losses | 65 | 8 | 73 | 8 | 81 | |||||||||||||||
Other (a) | (2 | ) | 1 | (1 | ) | — | (1 | ) | ||||||||||||
Ending balance | $ | 320 | $ | 29 | $ | 349 | $ | 19 | $ | 368 | ||||||||||
Analysis of ending balance of allowance for | ||||||||||||||||||||
credit losses | ||||||||||||||||||||
Collective impairment allowance | $ | 298 | $ | 27 | $ | 325 | $ | 19 | $ | 344 | ||||||||||
Specific impairment allowance | 22 | 2 | 24 | — | 24 | |||||||||||||||
Ending balance | $ | 320 | $ | 29 | $ | 349 | $ | 19 | $ | 368 | ||||||||||
Analysis of ending balance of finance receivables and net investment in operating leases | ||||||||||||||||||||
Collectively evaluated for impairment | $ | 48,897 | $ | 28,991 | $ | 77,888 | $ | 19,144 | ||||||||||||
Specifically evaluated for impairment | 424 | 58 | 482 | — | ||||||||||||||||
Recorded investment (b) | $ | 49,321 | $ | 29,049 | $ | 78,370 | $ | 19,144 | ||||||||||||
Ending balance, net of allowance for credit losses | $ | 49,001 | $ | 29,020 | $ | 78,021 | $ | 19,125 | ||||||||||||
__________ | ||||||||||||||||||||
(a) | Represents amounts related to translation adjustments. | |||||||||||||||||||
(b) | Represents finance receivables and net investment in operating leases before allowance for credit losses. | |||||||||||||||||||
NOTE 6. ALLOWANCE FOR CREDIT LOSSES (Continued) | ||||||||||||||||||||
Third Quarter 2012 | ||||||||||||||||||||
Finance Receivables | Net Investment in | |||||||||||||||||||
Consumer | Non-Consumer | Total | Operating Leases | Total Allowance | ||||||||||||||||
Allowance for credit losses | ||||||||||||||||||||
Beginning balance | $ | 365 | $ | 19 | $ | 384 | $ | 26 | $ | 410 | ||||||||||
Charge-offs | (78 | ) | (1 | ) | (79 | ) | (11 | ) | (90 | ) | ||||||||||
Recoveries | 41 | 3 | 44 | 11 | 55 | |||||||||||||||
Provision for credit losses | 45 | (2 | ) | 43 | (1 | ) | 42 | |||||||||||||
Other (a) | 3 | (1 | ) | 2 | 1 | 3 | ||||||||||||||
Ending balance | $ | 376 | $ | 18 | $ | 394 | $ | 26 | $ | 420 | ||||||||||
First Nine Months 2012 | ||||||||||||||||||||
Finance Receivables | Net Investment in | |||||||||||||||||||
Consumer | Non-Consumer | Total | Operating Leases | Total Allowance | ||||||||||||||||
Allowance for credit losses | ||||||||||||||||||||
Beginning balance | $ | 457 | $ | 44 | $ | 501 | $ | 40 | $ | 541 | ||||||||||
Charge-offs | (230 | ) | (8 | ) | (238 | ) | (35 | ) | (273 | ) | ||||||||||
Recoveries | 135 | 10 | 145 | 39 | 184 | |||||||||||||||
Provision for credit losses | 13 | (28 | ) | (15 | ) | (18 | ) | (33 | ) | |||||||||||
Other (a) | 1 | — | 1 | — | 1 | |||||||||||||||
Ending balance | $ | 376 | $ | 18 | $ | 394 | $ | 26 | $ | 420 | ||||||||||
Analysis of ending balance of allowance for | ||||||||||||||||||||
credit losses | ||||||||||||||||||||
Collective impairment allowance | $ | 358 | $ | 16 | $ | 374 | $ | 26 | $ | 400 | ||||||||||
Specific impairment allowance | 18 | 2 | 20 | — | 20 | |||||||||||||||
Ending balance | $ | 376 | $ | 18 | $ | 394 | $ | 26 | $ | 420 | ||||||||||
Analysis of ending balance of finance receivables and net investment in operating leases | ||||||||||||||||||||
Collectively evaluated for impairment | $ | 47,796 | $ | 24,724 | $ | 72,520 | $ | 14,315 | ||||||||||||
Specifically evaluated for impairment | 411 | 61 | 472 | — | ||||||||||||||||
Recorded investment (b) | $ | 48,207 | $ | 24,785 | $ | 72,992 | $ | 14,315 | ||||||||||||
Ending balance, net of allowance for credit losses | $ | 47,831 | $ | 24,767 | $ | 72,598 | $ | 14,289 | ||||||||||||
__________ | ||||||||||||||||||||
(a) | Represents amounts related to translation adjustments. | |||||||||||||||||||
(b) | Represents finance receivables and net investment in operating leases before allowance for credit losses. |
Inventories
Inventories | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
INVENTORIES | ' | |||||||
INVENTORIES | ||||||||
All inventories are stated at the lower of cost or market. Cost for a substantial portion of U.S. inventories is determined on a last-in, first-out (“LIFO”) basis. LIFO was used for approximately 24% and 18% of total inventories at September 30, 2013 and December 31, 2012, respectively. Cost of other inventories is determined by costing methods that approximate a first-in, first-out (“FIFO”) basis. | ||||||||
Inventories were as follows (in millions): | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Raw materials, work-in-process, and supplies | $ | 4,191 | $ | 3,697 | ||||
Finished products | 5,591 | 4,614 | ||||||
Total inventories under FIFO | 9,782 | 8,311 | ||||||
Less: LIFO adjustment | (983 | ) | (949 | ) | ||||
Total inventories | $ | 8,799 | $ | 7,362 | ||||
Variable_Interest_Entities
Variable Interest Entities | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Variable Interest Entities [Abstract] | ' | |||||||||||||||
VARIABLE INTEREST ENTITIES | ' | |||||||||||||||
VARIABLE INTEREST ENTITIES | ||||||||||||||||
A VIE is an entity that either (i) has insufficient equity to permit the entity to finance its activities without additional subordinated financial support or (ii) has equity investors who lack the characteristics of a controlling financial interest. A VIE is consolidated by its primary beneficiary. The primary beneficiary has both the power to direct the activities that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive benefits from the entity that could potentially be significant to the VIE. | ||||||||||||||||
We have the power to direct the activities of an entity when our management has the ability to make key operating decisions, such as decisions regarding capital or product investment or manufacturing production schedules. We have the power to direct the activities of our special purpose entities when we have the ability to exercise discretion in the servicing of financial assets, issue additional debt, exercise a unilateral call option, add assets to revolving structures, or control investment decisions. | ||||||||||||||||
Assets recognized as a result of consolidating these VIEs do not represent additional assets that could be used to satisfy claims against our general assets. Conversely, liabilities recognized as a result of consolidating these VIEs do not represent additional claims on our general assets; rather, they represent claims against the specific assets of the consolidated VIEs. | ||||||||||||||||
Automotive Sector | ||||||||||||||||
VIEs of Which We are Not the Primary Beneficiary | ||||||||||||||||
Getrag Ford Transmissions GmbH (“GFT”) is a joint venture that constitutes a significant VIE of which we are not the primary beneficiary as we do not have the power to direct its economically-significant activities. As a result, GFT was not consolidated. GFT is a 50/50 joint venture with Getrag Deutsche Venture GmbH and Co. KG. Ford and its related parties purchase a majority of the joint venture’s output. | ||||||||||||||||
We also have suppliers that are VIEs of which we are not the primary beneficiary. Although we have provided financial support, we do not have any key decision making power related to their businesses. | ||||||||||||||||
Our maximum exposure to loss from VIEs of which we are not the primary beneficiary was as follows (in millions): | ||||||||||||||||
September 30, | December 31, | Change in | ||||||||||||||
2013 | 2012 | Maximum | ||||||||||||||
Exposure | ||||||||||||||||
Investments | $ | 262 | $ | 242 | $ | 20 | ||||||||||
Supplier arrangements | 7 | 5 | 2 | |||||||||||||
Total maximum exposure | $ | 269 | $ | 247 | $ | 22 | ||||||||||
NOTE 8. VARIABLE INTEREST ENTITIES (Continued) | ||||||||||||||||
Financial Services Sector | ||||||||||||||||
VIEs of Which We are the Primary Beneficiary | ||||||||||||||||
Our Financial Services sector uses special purpose entities to issue asset-backed securities in transactions to public and private investors, bank conduits, and government-sponsored entities or others who obtain funding from government programs. We have deemed most of these special purpose entities to be VIEs. The asset-backed securities are backed by finance receivables and interests in net investments in operating leases. The assets continue to be consolidated by us. We retain interests in our securitization VIEs, including subordinated securities issued by the VIEs, rights to cash held for the benefit of the securitization investors, and rights 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 transactions create and pass along risks to the variable interest holders, depending on the assets securing the debt and the specific terms of the transactions. We aggregate and analyze the asset-backed securitization transactions based on the risk profile of the product and the type of funding structure, including: | ||||||||||||||||
• | Retail - consumer credit risk and pre-payment risk | |||||||||||||||
• | Wholesale - dealer credit risk | |||||||||||||||
• | Net investments in operating lease - vehicle residual value risk, consumer credit risk, and pre-payment risk | |||||||||||||||
As a residual interest holder, we are exposed to the underlying residual and credit risk of the collateral, and are exposed to interest rate risk in some transactions. The amount of risk absorbed by our residual interests generally is represented by and limited to the amount of overcollaterization of the assets securing the debt and any cash reserves. | ||||||||||||||||
We have no obligation to repurchase or replace any securitized asset that subsequently becomes delinquent in payment or otherwise is in default, except when representations and warranties about the eligibility of the securitized assets are breached, or when certain changes are made to the underlying asset contracts. Securitization investors have no recourse to us or our other assets and have no right to require us to repurchase the investments. We generally have no obligation to provide liquidity or contribute cash or additional assets to the VIEs and do not guarantee any asset-backed securities. We may be required to support the performance of certain securitization transactions, however, by increasing cash reserves. | ||||||||||||||||
Although not contractually required, we regularly support our wholesale securitization programs by repurchasing receivables of a dealer from a VIE when the dealer’s performance is at risk, which transfers the corresponding risk of loss from the VIE to us. In order to continue to fund the wholesale receivables, we also may contribute additional cash or wholesale receivables if the collateral falls below required levels. The balances of cash related to these contributions were $0 at September 30, 2013 and $0 at December 31, 2012, respectively, and ranged from $0 to $84 million during the first nine months of 2013. In addition, while not contractually required, we may purchase the commercial paper issued by Ford Credit’s FCAR Owner Trust asset-backed commercial paper program (“FCAR”). | ||||||||||||||||
NOTE 8. VARIABLE INTEREST ENTITIES (Continued) | ||||||||||||||||
The following table includes assets to be used to settle the liabilities of the consolidated VIEs. We may retain debt issued by consolidated VIEs and this debt is excluded from the table below. We hold the right to the excess cash flows from the assets that are not needed to pay liabilities of the consolidated VIEs. The assets and debt reflected on our consolidated balance sheet were as follows (in billions): | ||||||||||||||||
September 30, 2013 | ||||||||||||||||
Cash and Cash | Finance | Debt | ||||||||||||||
Equivalents | Receivables, Net | |||||||||||||||
and | ||||||||||||||||
Net Investment in | ||||||||||||||||
Operating Leases | ||||||||||||||||
Finance receivables | ||||||||||||||||
Retail | $ | 1.9 | $ | 22 | $ | 19.6 | ||||||||||
Wholesale | 0.4 | 21.1 | 14.3 | |||||||||||||
Total finance receivables | 2.3 | 43.1 | 33.9 | |||||||||||||
Net investment in operating leases | 0.4 | 7 | 4.6 | |||||||||||||
Total | $ | 2.7 | $ | 50.1 | $ | 38.5 | ||||||||||
December 31, 2012 | ||||||||||||||||
Cash and Cash | Finance | Debt | ||||||||||||||
Equivalents | Receivables, Net | |||||||||||||||
and | ||||||||||||||||
Net Investment in | ||||||||||||||||
Operating Leases | ||||||||||||||||
Finance receivables | ||||||||||||||||
Retail | $ | 2.2 | $ | 27 | $ | 23.2 | ||||||||||
Wholesale | 0.3 | 20.5 | 12.8 | |||||||||||||
Total finance receivables | 2.5 | 47.5 | 36 | |||||||||||||
Net investment in operating leases | 0.4 | 6.3 | 4.2 | |||||||||||||
Total (a) | $ | 2.9 | $ | 53.8 | $ | 40.2 | ||||||||||
__________ | ||||||||||||||||
(a) | Certain notes issued by the VIEs to affiliated companies served as collateral for accessing the European Central Bank open market operations program. This external funding of $145 million at December 31, 2012 was not reflected as debt of the VIEs and is excluded from the table above, but was included in our consolidated debt. The finance receivables backing this external funding are included in the table above. | |||||||||||||||
Interest expense on securitization debt related to consolidated VIEs was $138 million and $172 million for the third quarter of 2013 and 2012, respectively, and $434 million and $600 million for the first nine months of 2013 and 2012, respectively. | ||||||||||||||||
VIEs that are exposed to interest rate or currency risk have reduced their risks by entering into derivative transactions. In certain instances, we have entered into offsetting derivative transactions with the VIE to protect the VIE from the risks that are not mitigated through the derivative transactions between the VIE and its external counterparty. In other instances, we have entered into derivative transactions with the counterparty to protect the counterparty from risks absorbed through derivative transactions with the VIEs. See Note 12 for additional information regarding the accounting for derivatives. | ||||||||||||||||
Our exposures based on the fair value of derivative instruments with external counterparties related to consolidated VIEs that support our securitization transactions were as follows (in millions): | ||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||
Derivative | Derivative | Derivative | Derivative | |||||||||||||
Asset | Liability | Asset | Liability | |||||||||||||
Derivatives of the VIEs | $ | 4 | $ | 76 | $ | 4 | $ | 134 | ||||||||
Derivatives related to the VIEs | 30 | 28 | 74 | 63 | ||||||||||||
Total exposures related to the VIEs | $ | 34 | $ | 104 | $ | 78 | $ | 197 | ||||||||
NOTE 8. VARIABLE INTEREST ENTITIES (Continued) | ||||||||||||||||
Derivative expense/(income) related to consolidated VIEs that support Ford Credit’s securitization programs for the periods ended September 30 was as follows (in millions): | ||||||||||||||||
Third Quarter | First Nine Months | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
VIEs | $ | 73 | $ | 58 | $ | (20 | ) | $ | 209 | |||||||
Related to the VIEs | (2 | ) | 8 | 8 | (7 | ) | ||||||||||
Total derivative expense/(income) related to the VIEs | $ | 71 | $ | 66 | $ | (12 | ) | $ | 202 | |||||||
VIEs of Which We are Not the Primary Beneficiary | ||||||||||||||||
We have an investment in Forso Nordic AB, a joint venture determined to be a VIE of which we are not the primary beneficiary. The joint venture provides retail and dealer financing in its local markets and is financed by external debt and additional subordinated debt provided by the joint venture partner. The operating agreement indicates that the power to direct economically significant activities is shared with the joint venture partner, and the obligation to absorb losses or right to receive benefits resides primarily with the joint venture partner. Our investment in the joint venture is accounted for as an equity method investment and is included in Equity in net assets of affiliated companies. Our maximum exposure to any potential losses associated with this VIE is limited to our equity investment, and amounted to $69 million and $71 million at September 30, 2013 and December 31, 2012, respectively. |
Accrued_Liabilities_and_Deferr
Accrued Liabilities and Deferred Revenue | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
ACCRUED LIABILITIES AND DEFERRED REVENUE [Abstract] | ' | |||||||
Accrued Liabilities and Deferred Revenue Disclosure [Text Block] | ' | |||||||
ACCRUED LIABILITIES AND DEFERRED REVENUE | ||||||||
Accrued liabilities and deferred revenue were as follows (in millions): | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Automotive Sector | ||||||||
Current | ||||||||
Dealer and dealers’ customer allowances and claims | $ | 7,377 | $ | 6,779 | ||||
Deferred revenue | 3,232 | 2,796 | ||||||
Employee benefit plans | 1,660 | 1,504 | ||||||
Accrued interest | 239 | 277 | ||||||
Other postretirement employee benefits (“OPEB”) | 406 | 409 | ||||||
Pension (a) | 399 | 387 | ||||||
Other | 3,106 | 3,206 | ||||||
Total Automotive accrued liabilities and deferred revenue | 16,419 | 15,358 | ||||||
Non-current | ||||||||
Pension (a) | 13,792 | 18,400 | ||||||
OPEB | 6,296 | 6,398 | ||||||
Dealer and dealers’ customer allowances and claims | 2,007 | 2,036 | ||||||
Deferred revenue | 2,503 | 2,044 | ||||||
Employee benefit plans | 732 | 767 | ||||||
Other | 1,550 | 904 | ||||||
Total Automotive other liabilities | 26,880 | 30,549 | ||||||
Total Automotive sector | 43,299 | 45,907 | ||||||
Financial Services Sector | 4,034 | 3,500 | ||||||
Total Company | $ | 47,333 | $ | 49,407 | ||||
__________ | ||||||||
(a) | Balances at September 30, 2013 reflect net pension liabilities at December 31, 2012, updated for year-to-date service and interest cost, expected return on assets, separation expense, actual benefit payments, and cash contributions. Except in the case of the U.S. salaried pension plan remeasurement discussed in Note 10, the discount rate and rate of expected return assumptions are unchanged from year-end 2012. |
Retirement_Benefits
Retirement Benefits | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||||||||||
RETIREMENT BENEFITS | ' | |||||||||||||||||||||||
RETIREMENT BENEFITS | ||||||||||||||||||||||||
We provide pension benefits and OPEB, such as health care and life insurance, to employees in many of our operations around the world. | ||||||||||||||||||||||||
The pre-tax expense for our defined benefit pension and OPEB plans for the periods ended September 30 was as follows (in millions): | ||||||||||||||||||||||||
Third Quarter | ||||||||||||||||||||||||
Pension Benefits | ||||||||||||||||||||||||
U.S. Plans | Non-U.S. Plans | Worldwide OPEB | ||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
Service cost | $ | 140 | $ | 130 | $ | 119 | $ | 92 | $ | 16 | $ | 17 | ||||||||||||
Interest cost | 479 | 552 | 280 | 293 | 63 | 72 | ||||||||||||||||||
Expected return on assets | (685 | ) | (718 | ) | (339 | ) | (332 | ) | — | — | ||||||||||||||
Amortization of | ||||||||||||||||||||||||
Prior service costs/(credits) | 44 | 55 | 16 | 18 | (71 | ) | (137 | ) | ||||||||||||||||
(Gains)/Losses | 136 | 106 | 170 | 102 | 39 | 33 | ||||||||||||||||||
Separation programs/other | 1 | (1 | ) | 69 | 9 | 2 | — | |||||||||||||||||
(Gains)/Losses from curtailments and settlements | 145 | — | — | — | (2 | ) | — | |||||||||||||||||
Net expense/(income) | $ | 260 | $ | 124 | $ | 315 | $ | 182 | $ | 47 | $ | (15 | ) | |||||||||||
First Nine Months | ||||||||||||||||||||||||
Pension Benefits | ||||||||||||||||||||||||
U.S. Plans | Non-U.S. Plans | Worldwide OPEB | ||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
Service cost | $ | 443 | $ | 390 | $ | 360 | $ | 278 | $ | 48 | $ | 51 | ||||||||||||
Interest cost | 1,434 | 1,656 | 847 | 889 | 192 | 216 | ||||||||||||||||||
Expected return on assets | (2,133 | ) | (2,154 | ) | (1,029 | ) | (1,001 | ) | — | — | ||||||||||||||
Amortization of | ||||||||||||||||||||||||
Prior service costs/(credits) | 131 | 165 | 49 | 54 | (213 | ) | (409 | ) | ||||||||||||||||
(Gains)/Losses | 526 | 318 | 513 | 308 | 119 | 97 | ||||||||||||||||||
Separation programs/other | 5 | 4 | 220 | 54 | 2 | 1 | ||||||||||||||||||
(Gains)/Losses from curtailments and settlements | 439 | — | — | — | (2 | ) | (10 | ) | ||||||||||||||||
Net expense/(income) | $ | 845 | $ | 379 | $ | 960 | $ | 582 | $ | 146 | $ | (54 | ) | |||||||||||
U.S. Salaried Retiree Lump-Sum Program | ||||||||||||||||||||||||
In April 2012, we announced a program to offer voluntary lump-sum pension payout options to eligible salaried U.S. retirees and former salaried employees that, if accepted, would settle our obligation to them. The program provides participants with a one-time choice of electing to receive a lump-sum settlement of their remaining pension benefit. In 2012, as part of this voluntary lump-sum program, the Company settled $1.2 billion of its pension obligations for U.S. salaried retirees and recorded a $250 million settlement loss. | ||||||||||||||||||||||||
As the program continues in 2013, the Company settled additional U.S. salaried retiree pension obligations of $1.5 billion in the second quarter and $745 million in the third quarter, with an equal amount paid from plan assets. As a result of these settlements, the U.S. salaried pension plan was remeasured as of June 30, 2013 and September 30, 2013. | ||||||||||||||||||||||||
The remeasurement at September 30, 2013 reflected an increase in the discount rate for our U.S. salaried pension plan of 90 basis points from year-end 2012 and, as a result, the weighted average discount rate used to determine the benefit obligation for all U.S. plans at September 30, 2013 was 4.18%, and the weighted average expected long-term rate of return on assets was 7.16%. | ||||||||||||||||||||||||
NOTE 10. RETIREMENT BENEFITS (Continued) | ||||||||||||||||||||||||
Settlement losses of $145 million and $439 million in the third quarter and first nine months of 2013, respectively, have been recorded in Automotive cost of sales and Selling, administrative, and other expenses and are shown in the table above. The settlement losses reflect the accelerated recognition of unamortized losses in the salaried plan proportionate to the obligation that was settled. | ||||||||||||||||||||||||
Europe Business Restructuring - Pension Impacts | ||||||||||||||||||||||||
In October 2012, we announced a plan to restructure our European manufacturing operations as discussed in Note 16. In the third quarter and first nine months of 2013, we recognized pension-related employee separation costs of $48 million and $180 million, respectively (of an estimated total pension-related cost of $200 million), which are recorded in Automotive cost of sales and Selling, administrative, and other expenses and are included in the table above. | ||||||||||||||||||||||||
Pension Plan Contributions | ||||||||||||||||||||||||
We expect to contribute about $5 billion to our worldwide funded pension plans in 2013 (including discretionary contributions of about $3.4 billion, largely to our U.S. plans). In the first nine months of 2013, we contributed $3.9 billion to our worldwide funded pension plans (including $2.7 billion in discretionary contributions to our U.S. plans), and made about $300 million of benefit payments to participants in unfunded plans. We expect to contribute from Automotive cash and cash equivalents an additional $1.1 billion to our worldwide funded plans in 2013 (including discretionary contributions of about $700 million), and to make about $100 million in additional benefit payments to participants in unfunded plans, for a total of about $5.4 billion this year. | ||||||||||||||||||||||||
Based on current assumptions and regulations, we do not expect to have a legal requirement to fund our major U.S. pension plans in 2013. |
Debt_and_Commitments
Debt and Commitments | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
DEBT AND COMMITMENTS | ' | |||||||
DEBT AND COMMITMENTS | ||||||||
The carrying value of our debt was as follows (in millions): | ||||||||
Automotive Sector | September 30, | December 31, | ||||||
2013 | 2012 | |||||||
Debt payable within one year | ||||||||
Short-term | $ | 580 | $ | 484 | ||||
Long-term payable within one year | ||||||||
U.S. Department of Energy (“DOE”) Advanced Technology Vehicles Manufacturing (“ATVM”) Incentive Program | 591 | 591 | ||||||
Other debt | 142 | 311 | ||||||
Total debt payable within one year | 1,313 | 1,386 | ||||||
Long-term debt payable after one year | ||||||||
Public unsecured debt securities (a) | 6,797 | 5,420 | ||||||
Unamortized (discount)/premium | (149 | ) | (100 | ) | ||||
Convertible notes | 908 | 908 | ||||||
Unamortized (discount)/premium | (119 | ) | (142 | ) | ||||
DOE ATVM Incentive Program | 4,571 | 5,014 | ||||||
EIB Credit Facilities (b) | 1,268 | 729 | ||||||
Other debt | 1,231 | 1,048 | ||||||
Unamortized (discount)/premium | 4 | (7 | ) | |||||
Total long-term debt payable after one year | 14,511 | 12,870 | ||||||
Total Automotive sector | $ | 15,824 | $ | 14,256 | ||||
Fair value of Automotive sector debt (c) | $ | 17,542 | $ | 14,867 | ||||
Financial Services Sector | ||||||||
Short-term debt | ||||||||
Asset-backed commercial paper | $ | 4,036 | $ | 5,752 | ||||
Other asset-backed short-term debt | 1,320 | 3,762 | ||||||
Floating rate demand notes | 5,352 | 4,890 | ||||||
Commercial paper | 2,067 | 1,686 | ||||||
Other short-term debt | 1,871 | 1,655 | ||||||
Total short-term debt | 14,646 | 17,745 | ||||||
Long-term debt | ||||||||
Unsecured debt | ||||||||
Notes payable within one year | 5,743 | 5,830 | ||||||
Notes payable after one year | 36,697 | 32,503 | ||||||
Asset-backed debt | ||||||||
Notes payable within one year | 16,729 | 13,801 | ||||||
Notes payable after one year | 20,831 | 20,266 | ||||||
Unamortized (discount)/premium | (107 | ) | (134 | ) | ||||
Fair value adjustments (d) | 259 | 791 | ||||||
Total long-term debt | 80,152 | 73,057 | ||||||
Total Financial Services sector | $ | 94,798 | $ | 90,802 | ||||
Fair value of Financial Services sector debt (c) | $ | 98,018 | $ | 94,578 | ||||
Total Company | $ | 110,622 | $ | 105,058 | ||||
__________ | ||||||||
(a) | Public unsecured debt securities at September 30, 2013 increased by about $1.4 billion from December 31, 2012, primarily reflecting the issuance of $2 billion of 4.75% Notes due January 15, 2043, offset partially by the redemption of about $600 million of 7.50% Notes due June 10, 2043. | |||||||
(b) | Includes EIB Credit Facilities debt due to the consolidation of Ford Romania, SA (“Ford Romania”) on January 1, 2013. See Note 18 for additional information. | |||||||
(c) | The fair value of debt includes $374 million and $484 million of Automotive sector short-term debt and $9.3 billion and $8.4 billion of Financial Services sector short-term debt at September 30, 2013 and December 31, 2012, respectively, carried at cost which approximates fair value. All debt is categorized within Level 2 of the fair value hierarchy. See Note 3 for additional information. | |||||||
(d) | Adjustments related to designated fair value hedges of unsecured debt. |
Derivative_Financial_Instrumen
Derivative Financial Instruments and Hedging Activities | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
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 various derivatives contracts: | ||||||||||||||||||||||||
• | Foreign currency exchange contracts, including forwards and options, that are used to manage foreign exchange exposure; | |||||||||||||||||||||||
• | Commodity contracts, including forwards and options, that are used to manage commodity price risk; | |||||||||||||||||||||||
• | Interest rate contracts including swaps, caps, and floors that are used to manage the effects of interest rate fluctuations; and | |||||||||||||||||||||||
• | Cross-currency interest rate swap contracts that are used to manage foreign currency and interest rate exposures on foreign-denominated debt. | |||||||||||||||||||||||
Our derivatives are over-the-counter customized derivative transactions and are not exchange-traded. We review our hedging program, derivative positions, and overall risk management strategy on a regular basis. | ||||||||||||||||||||||||
Derivative Financial Instruments and Hedge Accounting. All derivatives are recognized on the balance sheet at fair value. We do not net our derivative position by counterparty for purposes of balance sheet presentation and disclosure. We do, however, consider our net position for determining fair value. | ||||||||||||||||||||||||
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. Regardless, we only enter into transactions that we believe will be highly effective at offsetting the underlying economic risk. | ||||||||||||||||||||||||
Cash Flow Hedges. Our Automotive sector has designated certain forward contracts as cash flow hedges of forecasted transactions with exposure to foreign currency exchange risk. | ||||||||||||||||||||||||
The effective portion of changes in the fair value of cash flow hedges is deferred in Accumulated other comprehensive income/(loss) and is recognized in Automotive cost of sales when the hedged item affects earnings. The ineffective portion is reported in Automotive cost of sales in the period of measurement. Our policy is to de-designate cash flow hedges prior to the time forecasted transactions are recognized as assets or liabilities on the balance sheet and report subsequent changes in fair value through Automotive cost of sales. If it becomes probable that the originally-forecasted transaction will not occur, the related amount included in Accumulated other comprehensive income/(loss) is reclassified and recognized in earnings. The majority of our cash flow hedges mature in 2 years or less. | ||||||||||||||||||||||||
Fair Value Hedges. Our Financial Services sector uses derivatives to reduce the risk of changes in the fair value of debt. We have designated certain receive-fixed, pay-float interest rate swaps as fair value hedges of fixed-rate debt. The risk being hedged is the risk of changes in the fair value of the hedged debt attributable to changes in the benchmark interest rate. If the hedge relationship is deemed to be highly effective, we record the changes in the fair value of the hedged debt related to the risk being hedged in Financial Services debt with the offset in Financial Services other income/(loss), net. The change in fair value of the related derivative (excluding accrued interest) also is recorded in Financial Services other income/(loss), net. Net interest settlements and accruals on fair value hedges are excluded from the assessment of hedge effectiveness and are reported in Interest expense. The cash flows associated with fair value hedges are reported in Net cash provided by/(used in) operating activities on our statement of cash flows. | ||||||||||||||||||||||||
When a fair value hedge is de-designated, or when the derivative is terminated before maturity, the fair value adjustment to the hedged debt continues to be reported as part of the carrying value of the debt and is amortized over its remaining life. | ||||||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments. Our Automotive sector reports changes in the fair value of derivatives not designated as hedging instruments through Automotive cost of sales. Cash flows associated with non-designated or de-designated derivatives are reported in Net cash provided by/(used in) investing activities in our statements of cash flows. | ||||||||||||||||||||||||
NOTE 12. DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Continued) | ||||||||||||||||||||||||
Our Financial Services sector reports net interest settlements and accruals and changes in the fair value of interest rate swaps not designated as hedging instruments in Financial Services other income/(loss), net. Foreign currency revaluation on accrued interest along with gains and losses on foreign exchange contracts and cross currency interest rate swaps are reported in Financial Services operating and other expenses. Cash flows associated with non-designated or de-designated derivatives are reported in Net cash provided by/(used in) investing activities in our statements of cash flows. | ||||||||||||||||||||||||
Normal Purchases and Normal Sales Classification. We have elected to apply the normal purchases and normal sales classification for physical supply contracts that are entered into for the purpose of procuring commodities to be used in production over a reasonable period in the normal course of our business. | ||||||||||||||||||||||||
Income Effect of Derivative Financial Instruments | ||||||||||||||||||||||||
The following table summarizes by hedge designation the pre-tax gains/(losses) recorded in Other comprehensive income/(loss) (“OCI”), reclassified from Accumulated other comprehensive income/(loss) to income and/or recognized directly in income for the periods ended September 30 (in millions): | ||||||||||||||||||||||||
Third Quarter 2013 | First Nine Months 2013 | |||||||||||||||||||||||
Gain/(Loss) Recorded | Gain/(Loss) | Gain/(Loss) Recognized | Gain/(Loss) Recorded | Gain/(Loss) | Gain/(Loss) Recognized | |||||||||||||||||||
in OCI | Reclassified | in Income | in OCI | Reclassified | in Income | |||||||||||||||||||
from AOCI | from AOCI | |||||||||||||||||||||||
to Income | to Income | |||||||||||||||||||||||
Automotive Sector | ||||||||||||||||||||||||
Cash flow hedges | ||||||||||||||||||||||||
Foreign currency exchange contracts | $ | (126 | ) | $ | 23 | $ | — | $ | 169 | $ | (102 | ) | $ | (3 | ) | |||||||||
Derivatives not designated as hedging instruments | ||||||||||||||||||||||||
Foreign currency exchange contracts | $ | (24 | ) | $ | 21 | |||||||||||||||||||
Commodity contracts | 8 | (67 | ) | |||||||||||||||||||||
Total | $ | (16 | ) | $ | (46 | ) | ||||||||||||||||||
Financial Services Sector | ||||||||||||||||||||||||
Fair value hedges | ||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Net interest settlements and accruals excluded from the assessment of hedge effectiveness | $ | 63 | $ | 186 | ||||||||||||||||||||
Ineffectiveness (a) | (3 | ) | (33 | ) | ||||||||||||||||||||
Total | $ | 60 | $ | 153 | ||||||||||||||||||||
Derivatives not designated as hedging instruments | ||||||||||||||||||||||||
Interest rate contracts | $ | (19 | ) | $ | (25 | ) | ||||||||||||||||||
Foreign currency exchange contracts | (55 | ) | 37 | |||||||||||||||||||||
Cross-currency interest rate swap contracts | (131 | ) | (37 | ) | ||||||||||||||||||||
Total | $ | (205 | ) | $ | (25 | ) | ||||||||||||||||||
__________ | ||||||||||||||||||||||||
(a) | For the third quarter and first nine months of 2013, hedge ineffectiveness reflects change in fair value on derivatives of $67 million gain and$501 million loss, respectively, and change in value on hedged debt attributable to the change in benchmark interest rate of $70 million loss and $468 million gain, respectively. | |||||||||||||||||||||||
NOTE 12. DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Continued) | ||||||||||||||||||||||||
Third Quarter 2012 | First Nine Months 2012 | |||||||||||||||||||||||
Gain/(Loss) Recorded | Gain/(Loss) | Gain/(Loss) Recognized | Gain/(Loss) Recorded | Gain/(Loss) | Gain/(Loss) Recognized | |||||||||||||||||||
in OCI | Reclassified | in Income | in OCI | Reclassified | in Income | |||||||||||||||||||
from AOCI | from AOCI | |||||||||||||||||||||||
to Income | to Income | |||||||||||||||||||||||
Automotive Sector | ||||||||||||||||||||||||
Cash flow hedges | ||||||||||||||||||||||||
Foreign currency exchange contracts | $ | (131 | ) | $ | (129 | ) | $ | (2 | ) | $ | (500 | ) | $ | (279 | ) | $ | (2 | ) | ||||||
Derivatives not designated as hedging instruments | ||||||||||||||||||||||||
Foreign currency exchange contracts | $ | (75 | ) | $ | (110 | ) | ||||||||||||||||||
Commodity contracts | 96 | (19 | ) | |||||||||||||||||||||
Other – warrants | — | (4 | ) | |||||||||||||||||||||
Total | $ | 21 | $ | (133 | ) | |||||||||||||||||||
Financial Services Sector | ||||||||||||||||||||||||
Fair value hedges | ||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Net interest settlements and accruals excluded from the assessment of hedge effectiveness | $ | 44 | $ | 126 | ||||||||||||||||||||
Ineffectiveness (a) | 6 | 8 | ||||||||||||||||||||||
Total | $ | 50 | $ | 134 | ||||||||||||||||||||
Derivatives not designated as hedging instruments | ||||||||||||||||||||||||
Interest rate contracts | $ | (8 | ) | $ | (12 | ) | ||||||||||||||||||
Foreign currency exchange contracts | (16 | ) | (70 | ) | ||||||||||||||||||||
Cross-currency interest rate swap contracts | (61 | ) | (109 | ) | ||||||||||||||||||||
Other | — | (81 | ) | |||||||||||||||||||||
Total | $ | (85 | ) | $ | (272 | ) | ||||||||||||||||||
__________ | ||||||||||||||||||||||||
(a) | For the third quarter and first nine months of 2012, hedge ineffectiveness reflects change in fair value on derivatives of $118 million gain and $276 million gain, respectively, and change in value on hedged debt attributable to the change in benchmark interest rate of $112 million loss and $268 million loss, respectively. | |||||||||||||||||||||||
NOTE 12. DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Continued) | ||||||||||||||||||||||||
Balance Sheet Effect of Derivative Financial Instruments | ||||||||||||||||||||||||
The following table summarizes the notional amount and estimated fair value of our derivative financial instruments (in millions): | ||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||
Notional | Fair Value of | Fair Value of | Notional | Fair Value of | Fair Value of | |||||||||||||||||||
Assets | Liabilities | Assets | Liabilities | |||||||||||||||||||||
Automotive Sector | ||||||||||||||||||||||||
Cash flow hedges | ||||||||||||||||||||||||
Foreign currency exchange contracts | $ | 17,818 | $ | 301 | $ | 175 | $ | 17,663 | $ | 150 | $ | 357 | ||||||||||||
Derivatives not designated as hedging instruments | ||||||||||||||||||||||||
Foreign currency exchange contracts | 11,242 | 141 | 215 | 9,225 | 68 | 129 | ||||||||||||||||||
Commodity contracts | 2,411 | 23 | 22 | 1,854 | 23 | 124 | ||||||||||||||||||
Total derivatives not designated as hedging instruments | 13,653 | 164 | 237 | 11,079 | 91 | 253 | ||||||||||||||||||
Total Automotive sector derivative financial instruments | $ | 31,471 | $ | 465 | $ | 412 | $ | 28,742 | $ | 241 | $ | 610 | ||||||||||||
Financial Services Sector | ||||||||||||||||||||||||
Fair value hedges | ||||||||||||||||||||||||
Interest rate contracts | $ | 19,334 | $ | 467 | $ | 172 | $ | 16,754 | $ | 787 | $ | 8 | ||||||||||||
Derivatives not designated as hedging instruments | ||||||||||||||||||||||||
Interest rate contracts | 67,768 | 386 | 147 | 68,919 | 504 | 248 | ||||||||||||||||||
Foreign currency exchange contracts | 2,942 | 12 | 65 | 2,378 | 9 | 8 | ||||||||||||||||||
Cross-currency interest rate swap contracts | 3,252 | — | 171 | 3,006 | — | 117 | ||||||||||||||||||
Total derivatives not designated as hedging instruments | 73,962 | 398 | 383 | 74,303 | 513 | 373 | ||||||||||||||||||
Total Financial Services sector derivative financial instruments | $ | 93,296 | $ | 865 | $ | 555 | $ | 91,057 | $ | 1,300 | $ | 381 | ||||||||||||
The notional amounts of the derivative financial instruments do not represent amounts exchanged by the parties and, therefore, are not a direct measure of our exposure to the financial risks described above. Notional amounts are presented on a gross basis with no netting of offsetting exposure positions. The amounts exchanged are calculated by reference to the notional amounts and by other terms of the derivatives, such as interest rates, foreign currency exchange rates, or commodity volumes and prices. | ||||||||||||||||||||||||
On our consolidated balance sheet, derivative assets are reported in Other assets for Automotive and Financial Services sectors, and derivative liabilities are reported in Payables for our Automotive sector and in Accrued liabilities and deferred revenue for our Financial Services sector. | ||||||||||||||||||||||||
NOTE 12. DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Continued) | ||||||||||||||||||||||||
Counterparty Risk and Collateral | ||||||||||||||||||||||||
The use of derivatives exposes us to the risk that a counterparty may default on a derivative contract. We establish exposure limits for each counterparty to minimize this risk and provide counterparty diversification. Substantially all of our derivative exposures are with counterparties that have an investment grade rating. The aggregate fair value of our derivative instruments in asset positions on September 30, 2013 was $1.3 billion, representing the maximum loss that we would recognize at that date if all counterparties failed to perform as contracted. We enter into master agreements with counterparties that may allow for netting of exposures in the event of default or termination of the counterparty agreement due to breach of contract. | ||||||||||||||||||||||||
The gross and net amounts of derivative assets and liabilities were as follows (in millions): | ||||||||||||||||||||||||
September 30, 2013 | 31-Dec-12 | |||||||||||||||||||||||
Fair Value of Assets | Fair Value of Liabilities | Fair Value of Assets | Fair Value of Liabilities | |||||||||||||||||||||
Automotive Sector | ||||||||||||||||||||||||
Gross derivative amounts recognized in the balance sheet | $ | 465 | $ | 412 | $ | 241 | $ | 610 | ||||||||||||||||
Gross derivative amounts not offset in the balance sheet that are eligible for offsetting | (342 | ) | (342 | ) | (218 | ) | (218 | ) | ||||||||||||||||
Net amount | $ | 123 | $ | 70 | $ | 23 | $ | 392 | ||||||||||||||||
Financial Services Sector | ||||||||||||||||||||||||
Gross derivative amounts recognized in the balance sheet | $ | 865 | $ | 555 | $ | 1,300 | $ | 381 | ||||||||||||||||
Gross derivative amounts not offset in the balance sheet that are eligible for offsetting | (346 | ) | (346 | ) | (222 | ) | (222 | ) | ||||||||||||||||
Net amount | $ | 519 | $ | 209 | $ | 1,078 | $ | 159 | ||||||||||||||||
We may receive or pledge cash collateral with certain counterparties based on our net position with regard to foreign currency and commodity derivative contracts, which is reported in Other receivables, net or Payables in our consolidated balance sheet. As of September 30, 2013 and December 31, 2012, we did not receive or pledge any cash collateral. | ||||||||||||||||||||||||
We include an adjustment for non-performance risk in the measurement of fair value of derivative instruments. Our adjustment for non-performance risk is relative to a measure based on an unadjusted inter-bank deposit rate (e.g., LIBOR). For our Automotive sector, at September 30, 2013 and December 31, 2012, our adjustment decreased derivative assets by $1 million and $1 million, respectively, and decreased derivative liabilities by $1 million and $1 million, respectively. For our Financial Services sector, at September 30, 2013 and December 31, 2012, our adjustment increased derivative assets by $4 million and decreased derivative assets by $14 million, respectively, and decreased derivative liabilities by $20 million and $5 million, respectively. See Note 3 for more detail on valuation methodologies. |
Redeemable_Noncontrolling_Inte
Redeemable Noncontrolling Interest | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Redeemable Noncontrolling Interests [Abstract] | ' | |||||||
Noncontrolling Interest Disclosure [Text Block] | ' | |||||||
REDEEMABLE NONCONTROLLING INTEREST | ||||||||
AutoAlliance International, Inc. (“AAI”) is a 50/50 joint venture between Ford and Mazda Motor Corporation (“Mazda”) that operates an automobile assembly plant in Flat Rock, Michigan. On September 1, 2012, we granted to Mazda a put option to sell and received a call option to purchase from Mazda the 50% equity interest in AAI that is held by Mazda (“the Option”). The Option is exercisable at a price of $339 million and is recorded as a redeemable noncontrolling interest in the mezzanine section of our balance sheet. Mazda’s share in AAI is redeemable by Ford or Mazda for a three-year period commencing on September 1, 2015. The following table summarizes the changes in our redeemable noncontrolling interest for the periods ended September 30 (in millions): | ||||||||
First Nine Months | ||||||||
2013 | 2012 | |||||||
Beginning balance (a) | $ | 322 | $ | 319 | ||||
Accretion to the redemption value of noncontrolling interest (recognized in Interest expense) | 7 | 1 | ||||||
Ending balance | $ | 329 | $ | 320 | ||||
__________ | ||||||||
(a) | The 2012 beginning balance reflects the fair value of redeemable noncontrolling interest at September 1, 2012, the date of the AAI acquisition. See Note 18 for additional information. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income/(Loss) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||
ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) | ' | |||||||
ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) | ||||||||
The following table summarizes the changes in the accumulated balances for each component of AOCI attributable to Ford Motor Company for the periods ended September 30 (in millions): | ||||||||
First Nine Months | ||||||||
2013 | 2012 | |||||||
Foreign currency translation | ||||||||
Beginning balance | $ | (1,241 | ) | $ | (1,383 | ) | ||
Net gain/(loss) on foreign currency translation | (597 | ) | 185 | |||||
Reclassifications to net income (a) | 111 | — | ||||||
Other comprehensive income/(loss), net of tax | (486 | ) | 185 | |||||
Ending balance | $ | (1,727 | ) | $ | (1,198 | ) | ||
Derivative instruments (b) | ||||||||
Beginning balance | $ | (175 | ) | $ | (181 | ) | ||
Net gain/(loss) on derivative instruments (net of tax of $52 and tax benefit of $153) | 117 | (347 | ) | |||||
Reclassifications to net income (net of tax of $28 and $83) (c) | 74 | 196 | ||||||
Other comprehensive income/(loss), net of tax | 191 | (151 | ) | |||||
Ending balance | $ | 16 | $ | (332 | ) | |||
Pension and other postretirement benefits | ||||||||
Beginning balance | $ | (21,438 | ) | $ | (17,170 | ) | ||
Net gain/(loss) arising during the period (net of tax of $271 and $0) | 498 | — | ||||||
Amortization of prior service (credit)/cost included in net income (net of tax benefit of $21 and $84) (d) | (14 | ) | (116 | ) | ||||
Amortization of (gain)/loss included in net income (net of tax of $481 and $225) (d) | 1,116 | 498 | ||||||
Translation impact on non-U.S. plans | 40 | (223 | ) | |||||
Other comprehensive income/(loss), net of tax | 1,640 | 159 | ||||||
Ending balance | $ | (19,798 | ) | $ | (17,011 | ) | ||
Total AOCI ending balance at September 30 | $ | (21,509 | ) | $ | (18,541 | ) | ||
__________ | ||||||||
(a) | The accumulated translation adjustments related to an investment in a foreign subsidiary are reclassified to net income upon sale or upon complete or substantially complete liquidation of the entity and are recognized in Automotive interest income and other income/(loss), net or Financial Services other income/(loss), net. | |||||||
(b) | We expect to reclassify existing net gains of $44 million from Accumulated other comprehensive income/(loss) to Automotive cost of sales during the next twelve months as the underlying exposures are realized. | |||||||
(c) | Gain/(loss) on cash flow hedges is reclassified from AOCI to income when the hedged item affects earnings and is recognized in Automotive cost of sales. See Note 12 for additional information. | |||||||
(d) | These AOCI components are included in the computation of net periodic pension cost. See Note 10 for additional information. |
Other_Income_Loss
Other Income (Loss) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Other Income and Expenses [Abstract] | ' | |||||||||||||||
OTHER INCOME/(LOSS) | ' | |||||||||||||||
OTHER INCOME/(LOSS) | ||||||||||||||||
Automotive Sector | ||||||||||||||||
The following table summarizes amounts included in Automotive interest income and other income/(loss), net for the periods ended September 30 (in millions): | ||||||||||||||||
Third Quarter | First Nine Months | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Interest income | $ | 38 | $ | 68 | $ | 125 | $ | 220 | ||||||||
Realized and unrealized gains/(losses) on cash equivalents and marketable securities | 67 | 23 | 147 | 28 | ||||||||||||
Gains/(Losses) on changes in investments in affiliates | (104 | ) | 154 | (114 | ) | (32 | ) | |||||||||
Gains/(Losses) on extinguishment of debt | — | — | (18 | ) | — | |||||||||||
Royalty income | 148 | 106 | 409 | 288 | ||||||||||||
Other | 51 | 76 | 137 | 171 | ||||||||||||
Total | $ | 200 | $ | 427 | $ | 686 | $ | 675 | ||||||||
Financial Services Sector | ||||||||||||||||
The following table summarizes amounts included in Financial Services other income/(loss), net for the periods ended September 30 (in millions): | ||||||||||||||||
Third Quarter | First Nine Months | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Interest income (investment-related) | $ | 12 | $ | 17 | $ | 40 | $ | 54 | ||||||||
Realized and unrealized gains/(losses) on cash equivalents and marketable securities | 5 | 4 | (2 | ) | 17 | |||||||||||
Insurance premiums earned | 28 | 24 | 87 | 75 | ||||||||||||
Other | 55 | 59 | 145 | 114 | ||||||||||||
Total | $ | 100 | $ | 104 | $ | 270 | $ | 260 | ||||||||
Employee_Separation_Actions_an
Employee Separation Actions and Exit and Disposal Activities | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Employee Separation Actions and Exit and Disposal Activities [Abstract] | ' | |||||||
Employee Separation Actions and Exit and Disposal Activities [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. When a plan of separation requires approval by or consultation with the relevant labor organization or government, the costs are recorded after the required approval or consultation process is complete. Costs associated with benefits that are contingent on the employee continuing to provide service are accrued over the required service period. | ||||||||
Business Restructuring - Europe | ||||||||
In October 2012, we committed to commence a transformation plan for our Ford Europe operations. The plan included the closure of two U.K. facilities — an assembly plant in Southampton, and a stamping and tooling plant in Dagenham — in 2013, and a major assembly plant in Genk, Belgium by the end of 2014. Before finalizing our separation plan in Genk, we engaged in a consultation process with the labor unions, which was completed in June 2013. | ||||||||
Separation-related costs, recorded in Automotive cost of sales and Selling, administrative and other expenses, include both the costs associated with the voluntary separation programs in the U.K. and the involuntary employee actions at Genk, as well as payments to suppliers. The following table summarizes the separation-related activity, excluding pension, recorded in Accrued liabilities and deferred revenue, for the period ended September 30 (in millions): | ||||||||
Third Quarter 2013 | First | |||||||
Nine Months | ||||||||
2013 | ||||||||
Beginning balance | $ | 287 | $ | — | ||||
Changes in accruals (a) | 196 | 483 | ||||||
Payments | (93 | ) | (95 | ) | ||||
Foreign currency translation | 11 | 13 | ||||||
Ending balance | $ | 401 | $ | 401 | ||||
__________ | ||||||||
(a) Excludes $48 million and $180 million for the third quarter and first nine months of 2013, respectively, of pension-related costs discussed in Note 10. | ||||||||
Our current estimate of total separation-related costs for the U.K. and Genk facilities is approximately $1 billion, excluding approximately $200 million of pension-related costs discussed in Note 10. |
Income_Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2013 | |
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 extraordinary items are excluded from the estimated annual effective tax rate calculation and recognized in the interim period in which they occur. | |
The American Taxpayer Relief Act of 2012 (the “Act”) was signed into law on January 2, 2013. The Act reinstated the U.S. federal research and development tax credit and U.S. tax deferral of certain foreign source income, retroactive to January 1, 2012. As a result, the tax provision for the period ended September 30, 2013 reflects a $221 million tax benefit related to the retroactive provisions of the Act. |
Dispositions_Changes_in_Invest
Dispositions, Changes in Investments in Affiliates and Assets Held For Sale | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Dispositions, Changes in Investments in Affiliates, and Assets Held for Sale [Abstract] | ' | |||
Dispositions and Acquisitions | ' | |||
DISPOSITIONS, CHANGES IN INVESTMENTS IN AFFILIATES, AND ASSETS HELD FOR SALE | ||||
Automotive Sector | ||||
Dispositions | ||||
Automotive Components Holdings, LLC (“ACH”). During the second quarter of 2012, ACH completed the sales of its automotive interior trim components business and automotive lighting business resulting in pre-tax losses of $96 million and $77 million, respectively, reported in Automotive interest income and other income/(loss), net, and contractual obligations of $182 million and $15 million, respectively, associated with the pricing of products to be purchased over the term of the related purchase and supply agreements. | ||||
Changes in Investments in Affiliates | ||||
Liquidation of a Foreign Subsidiary. During the third quarter of 2013, we completed the liquidation of a foreign subsidiary holding company, Ford LRH, and, as a result, reclassified a foreign currency translation loss of $103 million related to the investment from Accumulated other comprehensive income/(loss) to Automotive interest income and other income/(loss), net. | ||||
Ford Romania. Effective January 1, 2013, the Romanian government ceded control and participation in our operations in Romania. As a result of acquiring full management control, we consolidated Ford Romania under the acquisition method of accounting. Prior to consolidation, our ownership in Ford Romania had been reflected at 100% under the equity method of accounting. | ||||
We measured the fair value of Ford Romania using the income approach. We used cash flows that reflect our approved business plan for Ford Romania and align with assumptions a market participant would make. We assumed a discount rate of 8% based on an appropriate weighted-average cost of capital, adjusted for perceived business risks. | ||||
The fair value of 100% of Ford Romania’s identifiable net assets was $48 million, as shown below (in millions): | ||||
January 1, | ||||
2013 | ||||
Assets | ||||
Cash and cash equivalents | $ | 9 | ||
Receivables | 119 | |||
Inventories | 70 | |||
Net property | 927 | |||
Other assets | 112 | |||
Total assets of Ford Romania (a) | $ | 1,237 | ||
Liabilities | ||||
Payables | $ | 232 | ||
Accrued liabilities | 72 | |||
Debt | 881 | |||
Other liabilities | 4 | |||
Total liabilities of Ford Romania (a) | $ | 1,189 | ||
__________ | ||||
(a) | As of January 1, 2013, intercompany assets of $68 million and intercompany liabilities of $360 million have been eliminated in both consolidated and sector balance sheets. | |||
The excess of our previously recorded equity interest of $63 million over fair value of the net assets acquired resulted in a pre-tax loss of $15 million recorded in Automotive interest income and other income/(loss), net. | ||||
NOTE 18. DISPOSITIONS, CHANGES IN INVESTMENTS IN AFFILIATES, AND ASSETS HELD FOR SALE (Continued) | ||||
AAI. During the third quarter of 2012, we acquired full management control of AAI and consolidated it under the acquisition method of accounting. At September 1, 2012, the fair value of 100% of AAI’s identifiable net assets was $868 million. As part of the business combination, we recorded a redeemable noncontrolling interest at the then fair value of $319 million (see Note 13). As a result, the fair value attributable to our investment in AAI at September 1, 2012 was $549 million. The excess of this fair value over the carrying value of our previously recorded 50% unconsolidated equity interest resulted in a third quarter 2012 pre-tax gain of $155 million in Automotive interest income and other income/ (loss), net. | ||||
Financial Services Sector | ||||
Assets Held for Sale | ||||
Other Financial Services Segment. During April and August 2013, we executed agreements to sell certain Volvo-related retail financing receivables in tranches to a third-party financing company. We received cash proceeds of $160 million and $410 million and recognized pre-tax gains of $2 million and $7 million for receivables sold in the third quarter and the first nine months of 2013, respectively. The pre-tax gains are reported in Financial Services other income(loss), net. All servicing obligations were transferred to the third party upon sale of the receivables. As a consequence of the sale of receivables, we also recognized other expenses of $56 million. As of September 30, 2013, the remaining Volvo-related retail financing receivables of $98 million were classified to Assets held for sale as we have the intent to sell these receivables as part of future tranches under these same agreements. We determined a valuation allowance was not required, based on an analysis of the fair value of the remaining receivables. |
Amounts_Per_Share
Amounts Per Share | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
AMOUNTS PER SHARE | ' | |||||||||||||||
AMOUNTS PER SHARE ATTRIBUTABLE TO FORD MOTOR COMPANY COMMON AND CLASS B STOCK | ||||||||||||||||
We present both basic and diluted earnings per share (“EPS”) amounts in our financial reporting. Basic EPS excludes dilution and is computed by dividing income available to Common and Class B Stock holders by the weighted-average number of Common and Class B Stock outstanding for the period. Diluted EPS reflects the maximum potential dilution that could occur from our share-based compensation, including “in-the-money” stock options and unvested restricted stock units, and conversion into Ford common stock of our outstanding convertible notes. Potential dilutive shares are excluded from the calculation if they have an anti-dilutive effect in the period. | ||||||||||||||||
Basic and diluted income per share were calculated using the following (in millions): | ||||||||||||||||
Third Quarter | First Nine Months | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Basic and Diluted Income Attributable to Ford Motor Company | ||||||||||||||||
Basic income | $ | 1,272 | $ | 1,631 | $ | 4,116 | $ | 4,067 | ||||||||
Effect of dilutive 2016 Convertible Notes (a) | 10 | 12 | 33 | 33 | ||||||||||||
Effect of dilutive 2036 Convertible Notes (a) | — | — | 1 | 1 | ||||||||||||
Diluted income | $ | 1,282 | $ | 1,643 | $ | 4,150 | $ | 4,101 | ||||||||
Basic and Diluted Shares | ||||||||||||||||
Basic shares (average shares outstanding) | 3,942 | 3,814 | 3,933 | 3,811 | ||||||||||||
Net dilutive options and warrants (b) | 53 | 59 | 52 | 108 | ||||||||||||
Dilutive 2016 Convertible Notes | 98 | 96 | 98 | 95 | ||||||||||||
Dilutive 2036 Convertible Notes | 3 | 3 | 3 | 3 | ||||||||||||
Diluted shares | 4,096 | 3,972 | 4,086 | 4,017 | ||||||||||||
__________ | ||||||||||||||||
(a) | As applicable, includes interest expense, amortization of discount, amortization of fees, and other changes in income or loss that would result from the assumed conversion. | |||||||||||||||
(b) | The net dilutive effect for warrants was approximately 19 million and 60 million dilutive shares for third quarter and first nine months 2012, respectively, representing the net share settlement methodology for the 362 million warrants outstanding as of September 30, 2012. The warrants expired by their terms on January 1, 2013 and no warrants are outstanding |
Segment_Information
Segment Information | 9 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||||||
SEGMENT INFORMATION | ' | |||||||||||||||||||||||||||
SEGMENT INFORMATION | ||||||||||||||||||||||||||||
Key operating data for our business segments for the periods ended or at September 30 were as follows (in millions): | ||||||||||||||||||||||||||||
Automotive Sector | ||||||||||||||||||||||||||||
Operating Segments | Reconciling Items | |||||||||||||||||||||||||||
Ford North | Ford South | Ford | Ford Asia | Other | Special | Total | ||||||||||||||||||||||
America | America | Europe | Pacific | Automotive | Items | |||||||||||||||||||||||
Africa | ||||||||||||||||||||||||||||
Third Quarter 2013 | ||||||||||||||||||||||||||||
Revenues | $ | 21,690 | $ | 2,818 | $ | 6,505 | $ | 2,844 | $ | — | $ | — | $ | 33,857 | ||||||||||||||
Income /(loss) before income taxes | 2,308 | 159 | (228 | ) | 126 | (139 | ) | (498 | ) | 1,728 | ||||||||||||||||||
Total assets at September 30 | 59,037 | 7,108 | 16,094 | 8,932 | — | — | 91,171 | |||||||||||||||||||||
Third Quarter 2012 | ||||||||||||||||||||||||||||
Revenues | $ | 19,438 | $ | 2,314 | $ | 5,828 | $ | 2,667 | $ | — | $ | — | $ | 30,247 | ||||||||||||||
Income /(loss) before income taxes | 2,328 | 9 | (468 | ) | 45 | (139 | ) | 83 | 1,858 | |||||||||||||||||||
Total assets at September 30 | 51,718 | 6,351 | 19,079 | 7,236 | — | — | 84,384 | |||||||||||||||||||||
Automotive Sector | ||||||||||||||||||||||||||||
Operating Segments | Reconciling Items | |||||||||||||||||||||||||||
Ford North | Ford South | Ford | Ford Asia | Other | Special | Total | ||||||||||||||||||||||
America | America | Europe | Pacific | Automotive | Items | |||||||||||||||||||||||
Africa | ||||||||||||||||||||||||||||
First Nine Months 2013 | ||||||||||||||||||||||||||||
Revenues | $ | 66,383 | $ | 8,140 | $ | 20,785 | $ | 8,486 | $ | — | $ | — | $ | 103,794 | ||||||||||||||
Income /(loss) before income taxes | 7,079 | 92 | (1,038 | ) | 309 | (469 | ) | (1,257 | ) | 4,716 | ||||||||||||||||||
First Nine Months 2012 | ||||||||||||||||||||||||||||
Revenues | $ | 57,747 | $ | 7,047 | $ | 20,110 | $ | 7,196 | $ | — | $ | — | $ | 92,100 | ||||||||||||||
Income /(loss) before income taxes | 6,471 | 68 | (1,021 | ) | (116 | ) | (408 | ) | (406 | ) | 4,588 | |||||||||||||||||
NOTE 20. SEGMENT INFORMATION (Continued) | ||||||||||||||||||||||||||||
Financial Services Sector | Total Company | |||||||||||||||||||||||||||
Operating Segments | Reconciling Item | |||||||||||||||||||||||||||
Ford | Other | Elims | Total | Elims (a) | Total | |||||||||||||||||||||||
Credit | Financial | |||||||||||||||||||||||||||
Services | ||||||||||||||||||||||||||||
Third Quarter 2013 | ||||||||||||||||||||||||||||
Revenues | $ | 2,175 | $ | 45 | $ | (101 | ) | $ | 2,119 | $ | — | $ | 35,976 | |||||||||||||||
Income /(loss) before income taxes | 427 | (64 | ) | — | 363 | — | 2,091 | |||||||||||||||||||||
Total assets at September 30 | 113,288 | 5,748 | (6,946 | ) | 112,090 | (2,190 | ) | 201,071 | ||||||||||||||||||||
Third Quarter 2012 | ||||||||||||||||||||||||||||
Revenues | $ | 1,960 | $ | 65 | $ | (100 | ) | $ | 1,925 | $ | — | $ | 32,172 | |||||||||||||||
Income /(loss) before income taxes | 393 | (5 | ) | — | 388 | — | 2,246 | |||||||||||||||||||||
Total assets at September 30 | 101,327 | 8,005 | (7,189 | ) | 102,143 | (1,847 | ) | 184,680 | ||||||||||||||||||||
Financial Services Sector | Total Company | |||||||||||||||||||||||||||
Operating Segments | Reconciling Item | |||||||||||||||||||||||||||
Ford | Other | Elims | Total | Elims (a) | Total | |||||||||||||||||||||||
Credit | Financial | |||||||||||||||||||||||||||
Services | ||||||||||||||||||||||||||||
First Nine Months 2013 | ||||||||||||||||||||||||||||
Revenues | $ | 6,269 | $ | 158 | $ | (340 | ) | $ | 6,087 | $ | — | $ | 109,881 | |||||||||||||||
Income /(loss) before income taxes | 1,388 | (71 | ) | — | 1,317 | — | 6,033 | |||||||||||||||||||||
First Nine Months 2012 | ||||||||||||||||||||||||||||
Revenues | $ | 5,874 | $ | 206 | $ | (352 | ) | $ | 5,728 | $ | — | $ | 97,828 | |||||||||||||||
Income /(loss) before income taxes | 1,283 | 8 | — | 1,291 | — | 5,879 | ||||||||||||||||||||||
__________ | ||||||||||||||||||||||||||||
(a) | Includes intersector transactions occurring in the ordinary course of business and deferred tax netting. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
COMMITMENTS AND CONTINGENCIES | ' | |||||||
COMMITMENTS AND CONTINGENCIES | ||||||||
Guarantees | ||||||||
At September 30, 2013 and December 31, 2012, the following guarantees and indemnifications were issued and outstanding: | ||||||||
Guarantees related to affiliates and third parties. We guarantee debt and lease obligations of certain joint ventures, as well as certain financial obligations of outside third parties, including suppliers, to support our business and economic growth. Expiration dates vary through 2033, and guarantees will terminate on payment and/or cancellation of the 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 the 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. The maximum potential payments under guarantees and the carrying value of recorded liabilities related to guarantees were as follows (in millions): | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Maximum potential payments | $ | 228 | $ | 409 | ||||
Carrying value of recorded liabilities related to guarantees | 6 | 17 | ||||||
We regularly review our performance risk under these guarantees, which has resulted in no changes to our initial valuations. | ||||||||
Indemnifications. 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; dealers, 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. We also are party to numerous indemnifications which do not limit potential payment; therefore, we are unable to estimate a maximum amount of potential future payments that could result from claims made under these indemnities. | ||||||||
Litigation and Claims | ||||||||
Various legal actions, proceedings, and claims (generally, “matters”) are pending or may be instituted or asserted against us. These include but are not limited to matters arising out of alleged defects in our products; product warranties; governmental regulations relating to safety, emissions, and fuel economy or other matters; government incentives; tax matters; alleged illegal acts resulting in fines or penalties; financial services; employment-related matters; dealer, supplier, and other contractual relationships; intellectual property rights; environmental matters; shareholder or investor matters; and financial reporting matters. Certain of the pending legal actions are, or purport to be, class actions. Some of the matters involve or may involve claims for compensatory, punitive, or antitrust or other treble damages in very large amounts, or demands for recall campaigns, environmental remediation programs, sanctions, loss of government incentives, assessments, or other relief, which, if granted, would require very large expenditures. | ||||||||
The extent of our financial exposure to these matters is difficult to estimate. Many matters do not specify a dollar amount for damages, and many others specify only a jurisdictional minimum. To the extent an amount is asserted, our historical experience suggests that in most instances the amount asserted is not a reliable indicator of the ultimate outcome. | ||||||||
NOTE 21. COMMITMENTS AND CONTINGENCIES (Continued) | ||||||||
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 of our prevailing, 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, and we do not believe that there is a reasonably possible outcome materially in excess of our accrual. | ||||||||
For the remaining matters, where our historical experience with similar matters is of more limited value (i.e., “non-pattern matters”), we evaluate 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 about $2.6 billion. | ||||||||
As noted, the litigation process is subject to many uncertainties, and the outcome of individual litigated matters is not predictable with assurance. Our assessments are based on our knowledge and experience, but the ultimate outcome of any matter could require payment substantially in excess of the amount that we have accrued and/or disclosed. | ||||||||
Warranty | ||||||||
Included in warranty cost accruals are the costs for basic warranty coverages and field service actions (i.e., product recalls and owner notification programs) on products sold. These costs are estimates based primarily on historical warranty claim experience. Warranty accruals accounted for in Accrued liabilities and deferred revenue for the periods ended September 30 were as follows (in millions): | ||||||||
First Nine Months | ||||||||
2013 | 2012 | |||||||
Beginning balance | $ | 3,656 | $ | 3,915 | ||||
Payments made during the period | (1,763 | ) | (1,675 | ) | ||||
Changes in accrual related to warranties issued during the period | 1,471 | 1,402 | ||||||
Changes in accrual related to pre-existing warranties | 227 | (17 | ) | |||||
Foreign currency translation and other | (54 | ) | 23 | |||||
Ending balance | $ | 3,537 | $ | 3,648 | ||||
Excluded from the table above are costs accrued for customer satisfaction actions. |
Summary_of_Accounting_Policies
Summary of Accounting Policies (Policies) | 9 Months Ended | |
Sep. 30, 2013 | ||
Basis of Accounting and Intercompany Transactions [Abstract] | ' | |
Basis of Accounting and Intercompany Transactions, Policy [Policy Text Block] | ' | |
We show certain of our financial statements on both a consolidated and a sector basis for our Automotive and Financial Services sectors. Intercompany items have been eliminated in both the consolidated and sector balance sheets. Where the presentation of these intercompany eliminations or consolidated adjustments differs between the consolidated and sector financial statements, reconciliations of certain line items are explained below in this Note or in related footnotes. | ||
Reclassifications [Abstract] | ' | |
Reclassifications, Policy [Policy Text Block] | ' | |
We reclassified certain prior year amounts in our consolidated financial statements to conform to current year presentation. | ||
Fair Value Disclosures [Abstract] | ' | |
Fair Value Measurements, Policy [Policy Text Block] | ' | |
Derivative Financial Instruments. Our derivatives are over-the-counter customized derivative transactions and are not exchange traded. We estimate the fair value of these instruments using industry-standard valuation models such as a discounted cash flow. These models project future cash flows and discount the future amounts to a present value using market-based expectations for interest rates, foreign exchange rates, commodity prices, and the contractual terms of the derivative instruments. The discount rate used is the relevant interbank deposit rate (e.g., LIBOR) plus an adjustment for non-performance risk. The adjustment reflects the full credit default swap (“CDS”) spread applied to a net exposure, by counterparty, considering the master netting agreements and posted collateral. We use our counterparty’s CDS spread when we are in a net asset position and our own CDS spread when we are in a net liability position. In certain cases, market data are not available and we use broker quotes and models (e.g., Black-Scholes) to determine fair value. This includes situations where there is lack of liquidity for a particular currency or commodity or when the instrument is longer-dated. | ||
Finance Receivables. We measure finance receivables at fair value for purposes of disclosure (see Note 5) using internal valuation models. These models project future cash flows of financing contracts based on scheduled contract payments (including principal and interest). The projected cash flows are discounted to present value based on assumptions regarding credit losses, pre-payment speed, and applicable spreads to approximate current rates. Our assumptions regarding pre-payment speed and credit losses are based on historical performance. The fair value of finance receivables is categorized within Level 3 of the hierarchy. | ||
On a nonrecurring basis, when retail contracts are greater than 120 days past due or deemed to be uncollectible, or if individual dealer loans are probable of foreclosure, we use the fair value of collateral, adjusted for estimated costs to sell, to determine the fair value of our receivables. The collateral for a retail receivable is the vehicle financed, and for dealer loans is real estate or other property. | ||
The fair value of collateral for retail receivables is calculated based on the number of contracts multiplied by the loss severity and the probability of default (“POD”) percentage, or the outstanding receivable balances multiplied by the average recovery value (“ARV”) percentage to determine the fair value adjustment. | ||
The nonrecurring fair value measurements for dealer loans are based on an assessment of the estimated fair value of collateral. The assessment is performed by reviewing various appraisals, which include total adjusted appraised value of land and improvements, alternate use appraised value, broker’s opinion of value, and purchase offers. The fair value adjustment is determined by comparing the net carrying value of the dealer loan and the estimated fair value of collateral. | ||
Debt. We measure debt at fair value for purposes of disclosure (see Note 11) using quoted prices for our own debt with approximately the same remaining maturities, where possible. Where quoted prices are not available, we estimate fair value using discounted cash flows and market-based expectations for interest rates, credit risk, and the contractual terms of the debt instruments. For certain short-term debt with an original maturity date of one year or less, we assume that book value is a reasonable approximation of the debt’s fair value. The fair value of debt is categorized within Level 2 of the hierarchy. | ||
Cash equivalents, marketable securities, and derivative financial instruments are presented in our financial statements on a recurring basis at fair value, while other assets and liabilities are measured at fair value on a nonrecurring basis, such as when we have an asset impairment. | ||
Fair Value Measurements | ||
In measuring fair value, we use various valuation methodologies and prioritize the use of observable inputs. The use of observable and unobservable inputs and their significance in measuring fair value are reflected in our fair value hierarchy assessment. | ||
• | Level 1 - inputs include quoted prices for identical instruments and are the most observable | |
• | Level 2 - inputs include quoted prices for similar instruments and observable inputs such as interest rates, currency exchange rates, and yield curves | |
• | Level 3 - inputs include data not observable in the market and reflect management judgment about the assumptions market participants would use in pricing the instruments | |
We review the inputs to the fair value measurements to ensure they are appropriately categorized within the fair value hierarchy. Transfers into and transfers out of the hierarchy levels are recognized as if they had taken place at the end of the reporting period. | ||
Valuation Methodologies | ||
Cash and Cash Equivalents. Included in Cash and cash equivalents are highly liquid investments that are readily convertible to known amounts of cash, and which 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 90 days 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 balance sheet and are excluded from the tables below. | ||
Marketable Securities. Investments in securities with a maturity date greater than 90 days 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. We generally measure fair value using prices obtained from pricing services. Pricing methodologies and inputs to valuation models used by the pricing services depend on the security type (i.e., asset class). Where possible, fair values are generated using market inputs including quoted prices (the closing price in an exchange market), bid prices (the price at which a buyer stands ready to purchase), and other market information. For fixed income securities that are not actively traded, the pricing services use alternative methods to determine fair value for the securities, including quotes for similar fixed-income securities, matrix pricing, discounted cash flow using benchmark curves, or other factors. In certain cases, when market data are not available, we may use broker quotes to determine fair value. | ||
An annual review is performed on the security prices received from our pricing services, which includes discussion and analysis of the inputs used by the pricing services to value our securities. We also compare the price of certain securities sold close to the quarter end to the price of the same security at the balance sheet date to ensure the reported fair value is reasonable. | ||
Fair value changes related to retail and dealer loan finance receivables that have been written down based on the fair value of collateral adjusted for estimated costs to sell are recorded in Financial Services provision for credit and insurance losses. | ||
Cash and Restricted Cash [Abstract] | ' | |
Restricted Cash, Policy [Policy Text Block] | ' | |
Cash and cash equivalents that are restricted as to withdrawal or use under the terms of certain contractual agreements are recorded in Other assets on our balance sheet. | ||
Finance Loans and Leases Receivable [Abstract] | ' | |
Finance Loans and Leases Receivable, Policy [Policy Text Block] | ' | |
The accrual of revenue is discontinued at the earlier of the time a receivable is determined to be uncollectible, at bankruptcy status notification, or greater than 120 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 generally are applied first to outstanding interest and then to the unpaid principal balance. | ||
For all classes of finance receivables, we define “past due” as any payment, including principal and interest, that has not been collected and is at least 31 days past the contractual due date. | ||
A restructuring of debt constitutes a TDR if we grant a concession to a customer or borrower for economic or legal reasons related to the debtor’s financial difficulties that we otherwise would not consider. Consumer and non-consumer contracts 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 loans that are current with minimal risk of loss, are considered to be TDRs. We do not grant concessions on the principal balance of our loans. If a contract is modified in reorganization proceeding, all payment requirements of the reorganization plan need to be met before remaining balances are forgiven. | ||
Notes receivable initially are recorded at fair value and subsequently measured at amortized cost. | ||
Financing Receivable Impaired [Abstract] | ' | |
Impaired Financing Receivable, Policy [Policy Text Block] | ' | |
Impaired consumer receivables include accounts that have been rewritten or modified in reorganization proceedings pursuant to the U.S. Bankruptcy Code that are considered to be Troubled Debt Restructurings (“TDRs”), as well as all accounts greater than 120 days past due. Impaired non-consumer receivables represent accounts with dealers that have weak or poor financial metrics or dealer financing that has been modified in TDRs. | ||
Inventories [Abstract] | ' | |
Inventory, Policy [Policy Text Block] | ' | |
Cost of other inventories is determined by costing methods that approximate a first-in, first-out (“FIFO”) basis. | ||
All inventories are stated at the lower of cost or market. Cost for a substantial portion of U.S. inventories is determined on a last-in, first-out (“LIFO”) basis. | ||
Variable Interest Entities [Abstract] | ' | |
Consolidation, Variable Interest Entity, Policy [Policy Text Block] | ' | |
A VIE is an entity that either (i) has insufficient equity to permit the entity to finance its activities without additional subordinated financial support or (ii) has equity investors who lack the characteristics of a controlling financial interest. A VIE is consolidated by its primary beneficiary. The primary beneficiary has both the power to direct the activities that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive benefits from the entity that could potentially be significant to the VIE. | ||
We have the power to direct the activities of an entity when our management has the ability to make key operating decisions, such as decisions regarding capital or product investment or manufacturing production schedules. We have the power to direct the activities of our special purpose entities when we have the ability to exercise discretion in the servicing of financial assets, issue additional debt, exercise a unilateral call option, add assets to revolving structures, or control investment decisions. | ||
Assets recognized as a result of consolidating these VIEs do not represent additional assets that could be used to satisfy claims against our general assets. Conversely, liabilities recognized as a result of consolidating these VIEs do not represent additional claims on our general assets; rather, they represent claims against the specific assets of the consolidated VIEs. | ||
Derivative Financial Instruments and Hedging Activities [Abstract] | ' | |
Derivatives, Policy [Policy Text Block] | ' | |
Derivative Financial Instruments and Hedge Accounting. All derivatives are recognized on the balance sheet at fair value. We do not net our derivative position by counterparty for purposes of balance sheet presentation and disclosure. We do, however, consider our net position for determining fair value. | ||
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. Regardless, we only enter into transactions that we believe will be highly effective at offsetting the underlying economic risk. | ||
Cash Flow Hedges. Our Automotive sector has designated certain forward contracts as cash flow hedges of forecasted transactions with exposure to foreign currency exchange risk. | ||
The effective portion of changes in the fair value of cash flow hedges is deferred in Accumulated other comprehensive income/(loss) and is recognized in Automotive cost of sales when the hedged item affects earnings. The ineffective portion is reported in Automotive cost of sales in the period of measurement. Our policy is to de-designate cash flow hedges prior to the time forecasted transactions are recognized as assets or liabilities on the balance sheet and report subsequent changes in fair value through Automotive cost of sales. If it becomes probable that the originally-forecasted transaction will not occur, the related amount included in Accumulated other comprehensive income/(loss) is reclassified and recognized in earnings. The majority of our cash flow hedges mature in 2 years or less. | ||
Fair Value Hedges. Our Financial Services sector uses derivatives to reduce the risk of changes in the fair value of debt. We have designated certain receive-fixed, pay-float interest rate swaps as fair value hedges of fixed-rate debt. The risk being hedged is the risk of changes in the fair value of the hedged debt attributable to changes in the benchmark interest rate. If the hedge relationship is deemed to be highly effective, we record the changes in the fair value of the hedged debt related to the risk being hedged in Financial Services debt with the offset in Financial Services other income/(loss), net. The change in fair value of the related derivative (excluding accrued interest) also is recorded in Financial Services other income/(loss), net. Net interest settlements and accruals on fair value hedges are excluded from the assessment of hedge effectiveness and are reported in Interest expense. The cash flows associated with fair value hedges are reported in Net cash provided by/(used in) operating activities on our statement of cash flows. | ||
When a fair value hedge is de-designated, or when the derivative is terminated before maturity, the fair value adjustment to the hedged debt continues to be reported as part of the carrying value of the debt and is amortized over its remaining life. | ||
Derivatives Not Designated as Hedging Instruments. Our Automotive sector reports changes in the fair value of derivatives not designated as hedging instruments through Automotive cost of sales. Cash flows associated with non-designated or de-designated derivatives are reported in Net cash provided by/(used in) investing activities in our statements of cash flows. | ||
NOTE 12. DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Continued) | ||
Our Financial Services sector reports net interest settlements and accruals and changes in the fair value of interest rate swaps not designated as hedging instruments in Financial Services other income/(loss), net. Foreign currency revaluation on accrued interest along with gains and losses on foreign exchange contracts and cross currency interest rate swaps are reported in Financial Services operating and other expenses. Cash flows associated with non-designated or de-designated derivatives are reported in Net cash provided by/(used in) investing activities in our statements of cash flows. | ||
Income Tax Disclosure [Abstract] | ' | |
Income Tax, Policy [Policy Text Block] | ' | |
For interim tax reporting we estimate one single effective tax rate for tax jurisdictions not subject to a valuation allowance, which is applied to the year-to-date ordinary income/(loss). Tax effects of significant unusual or extraordinary items are excluded from the estimated annual effective tax rate calculation and recognized in the interim period in which they occur. | ||
Earnings Per Share [Abstract] | ' | |
Earnings Per Share, Policy [Policy Text Block] | ' | |
We present both basic and diluted earnings per share (“EPS”) amounts in our financial reporting. Basic EPS excludes dilution and is computed by dividing income available to Common and Class B Stock holders by the weighted-average number of Common and Class B Stock outstanding for the period. Diluted EPS reflects the maximum potential dilution that could occur from our share-based compensation, including “in-the-money” stock options and unvested restricted stock units, and conversion into Ford common stock of our outstanding convertible notes. Potential dilutive shares are excluded from the calculation if they have an anti-dilutive effect in the period. |
Presentation_Tables
Presentation (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||
Reconciliation from Sector to Consolidated Balance Sheet [Table Text Block] | ' | |||||||
The reconciliation between the totals for the sector and consolidated balance sheets was as follows (in millions): | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Sector balance sheet presentation of deferred income tax assets | ||||||||
Automotive sector current deferred income tax assets | $ | 2,943 | $ | 3,488 | ||||
Automotive sector non-current deferred income tax assets | 11,583 | 13,325 | ||||||
Financial Services sector deferred income tax assets (a) | 168 | 184 | ||||||
Total | 14,694 | 16,997 | ||||||
Reclassification for netting of deferred income taxes | (1,671 | ) | (1,812 | ) | ||||
Consolidated balance sheet presentation of deferred income tax assets | $ | 13,023 | $ | 15,185 | ||||
Sector balance sheet presentation of deferred income tax liabilities | ||||||||
Automotive sector current deferred income tax liabilities | $ | 207 | $ | 81 | ||||
Automotive sector non-current deferred income tax liabilities | 389 | 514 | ||||||
Financial Services sector deferred income tax liabilities | 1,712 | 1,687 | ||||||
Total | 2,308 | 2,282 | ||||||
Reclassification for netting of deferred income taxes | (1,671 | ) | (1,812 | ) | ||||
Consolidated balance sheet presentation of deferred income tax liabilities | $ | 637 | $ | 470 | ||||
__________ | ||||||||
(a) | Financial Services deferred income tax assets are included in Financial Services other assets on our sector balance sheet | |||||||
Reconciliation from Sector to Consolidated Cash Flows [Table Text Block] | ' | |||||||
The reconciliation between totals for the sector and consolidated cash flows for the periods ended September 30 was as follows (in millions): | ||||||||
First Nine Months | ||||||||
2013 | 2012 | |||||||
Automotive net cash provided by/(used in) operating activities | $ | 6,378 | $ | 4,113 | ||||
Financial Services net cash provided by/(used in) operating activities | 4,928 | 3,624 | ||||||
Total sector net cash provided by/(used in) operating activities | 11,306 | 7,737 | ||||||
Reclassifications from investing to operating cash flows | ||||||||
Wholesale receivables (a) | (1,088 | ) | 1,671 | |||||
Finance receivables (b) | (89 | ) | (2 | ) | ||||
Consolidated net cash provided by/(used in) operating activities | $ | 10,129 | $ | 9,406 | ||||
Automotive net cash provided by/(used in) investing activities | $ | (6,633 | ) | $ | (6,086 | ) | ||
Financial Services net cash provided by/(used in) investing activities | (9,566 | ) | (3,873 | ) | ||||
Total sector net cash provided by/(used in) investing activities | (16,199 | ) | (9,959 | ) | ||||
Reclassifications from investing to operating cash flows | ||||||||
Wholesale receivables (a) | 1,088 | (1,671 | ) | |||||
Finance receivables (b) | 89 | 2 | ||||||
Reclassifications from investing to financing cash flows | ||||||||
Maturity of Financial Services sector debt held by Automotive sector (c) | — | (201 | ) | |||||
Elimination of investing activity to/(from) Financial Services in consolidation | (298 | ) | (794 | ) | ||||
Consolidated net cash provided by/(used in) investing activities | $ | (15,320 | ) | $ | (12,623 | ) | ||
Automotive net cash provided by/(used in) financing activities | $ | (254 | ) | $ | 233 | |||
Financial Services net cash provided by/(used in) financing activities | 4,298 | (1,610 | ) | |||||
Total sector net cash provided by/(used in) financing activities | 4,044 | (1,377 | ) | |||||
Reclassifications from investing to financing cash flows | ||||||||
Maturity of Financial Services sector debt held by Automotive sector (c) | — | 201 | ||||||
Elimination of investing activity to/(from) Financial Services in consolidation | 298 | 794 | ||||||
Consolidated net cash provided by/(used in) financing activities | $ | 4,342 | $ | (382 | ) | |||
__________ | ||||||||
(a) | In addition to the cash flow from vehicles sold by us, the cash flow from wholesale finance receivables (being reclassified from investing to operating) includes dealer financing by Ford Credit of used and non-Ford vehicles. One hundred percent of cash flows from these wholesale finance receivables have been reclassified for consolidated presentation as the portion of these cash flows from used and non-Ford vehicles is impracticable to separate. | |||||||
(b) | Includes cash flows of finance receivables purchased/collected by the Financial Services sector from certain divisions and subsidiaries of the Automotive sector. | |||||||
(c) | Cash inflows related to these transactions are reported as financing activities on the consolidated statement of cash flows and investing activities on the sector statement of cash flows. |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||||||||||
Input Hierarchy of Items Measured at Fair Value on a Recurring Basis [Table Text Block] | ' | |||||||||||||||||||||||||||||||
The following tables categorize the fair values of items measured at fair value on a recurring basis on our balance sheet (in millions): | ||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||
Automotive Sector | ||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Cash equivalents – financial instruments | ||||||||||||||||||||||||||||||||
U.S. government | $ | 16 | $ | — | $ | — | $ | 16 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
U.S. government-sponsored enterprises | — | 5 | — | 5 | — | 718 | — | 718 | ||||||||||||||||||||||||
Non-U.S. government | — | 72 | — | 72 | — | 139 | — | 139 | ||||||||||||||||||||||||
Non-U.S. government agencies (a) | — | 20 | — | 20 | — | 365 | — | 365 | ||||||||||||||||||||||||
Corporate debt | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Total cash equivalents – financial instruments (b) | 16 | 97 | — | 113 | — | 1,222 | — | 1,222 | ||||||||||||||||||||||||
Marketable securities | ||||||||||||||||||||||||||||||||
U.S. government | 4,924 | — | — | 4,924 | 4,493 | — | — | 4,493 | ||||||||||||||||||||||||
U.S. government-sponsored enterprises | — | 5,895 | — | 5,895 | — | 5,459 | — | 5,459 | ||||||||||||||||||||||||
Non-U.S. government agencies (a) | — | 5,830 | — | 5,830 | — | 4,794 | — | 4,794 | ||||||||||||||||||||||||
Corporate debt | — | 2,316 | — | 2,316 | — | 1,871 | — | 1,871 | ||||||||||||||||||||||||
Mortgage-backed and other asset-backed | — | 296 | — | 296 | — | 25 | — | 25 | ||||||||||||||||||||||||
Equities | 295 | — | — | 295 | 142 | — | — | 142 | ||||||||||||||||||||||||
Non-U.S. government | — | 911 | — | 911 | — | 1,367 | — | 1,367 | ||||||||||||||||||||||||
Other liquid investments (c) | — | 18 | — | 18 | — | 27 | — | 27 | ||||||||||||||||||||||||
Total marketable securities | 5,219 | 15,266 | — | 20,485 | 4,635 | 13,543 | — | 18,178 | ||||||||||||||||||||||||
Derivative financial instruments | ||||||||||||||||||||||||||||||||
Foreign currency exchange contracts | — | 442 | — | 442 | — | 218 | — | 218 | ||||||||||||||||||||||||
Commodity contracts | — | 20 | 3 | 23 | — | 19 | 4 | 23 | ||||||||||||||||||||||||
Total derivative financial instruments (d) | — | 462 | 3 | 465 | — | 237 | 4 | 241 | ||||||||||||||||||||||||
Total assets at fair value | $ | 5,235 | $ | 15,825 | $ | 3 | $ | 21,063 | $ | 4,635 | $ | 15,002 | $ | 4 | $ | 19,641 | ||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||
Derivative financial instruments | ||||||||||||||||||||||||||||||||
Foreign currency exchange contracts | $ | — | $ | 390 | $ | — | $ | 390 | $ | — | $ | 486 | $ | — | $ | 486 | ||||||||||||||||
Commodity contracts | — | 20 | 2 | 22 | — | 112 | 12 | 124 | ||||||||||||||||||||||||
Total derivative financial instruments (d) | — | 410 | 2 | 412 | — | 598 | 12 | 610 | ||||||||||||||||||||||||
Total liabilities at fair value | $ | — | $ | 410 | $ | 2 | $ | 412 | $ | — | $ | 598 | $ | 12 | $ | 610 | ||||||||||||||||
__________ | ||||||||||||||||||||||||||||||||
(a) | Includes notes issued by non-U.S. government agencies, as well as notes issued by supranational institutions. | |||||||||||||||||||||||||||||||
(b) | Excludes time deposits, certificates of deposit, money market accounts, and other cash equivalents reported at par value on our balance sheet totaling $2.5 billion and $3 billion at September 30, 2013 and December 31, 2012, respectively, for the Automotive sector. In addition to these cash equivalents, our Automotive sector also had cash on hand totaling $3.1 billion and $2 billion at September 30, 2013 and December 31, 2012, respectively. | |||||||||||||||||||||||||||||||
(c) | Includes certificates of deposit and time deposits subject to changes in value. | |||||||||||||||||||||||||||||||
(d) | See Note 12 for additional information regarding derivative financial instruments. | |||||||||||||||||||||||||||||||
NOTE 3. FAIR VALUE MEASUREMENTS (Continued) | ||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||
Financial Services Sector | ||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Cash equivalents – financial instruments | ||||||||||||||||||||||||||||||||
U.S. government | $ | — | $ | — | $ | — | $ | — | $ | 200 | $ | — | $ | — | $ | 200 | ||||||||||||||||
U.S. government-sponsored enterprises | — | — | — | — | — | 20 | — | 20 | ||||||||||||||||||||||||
Non-U.S. government | — | 66 | — | 66 | — | 103 | — | 103 | ||||||||||||||||||||||||
Corporate debt | — | — | — | — | — | 1 | — | 1 | ||||||||||||||||||||||||
Total cash equivalents – financial instruments (a) | — | 66 | — | 66 | 200 | 124 | — | 324 | ||||||||||||||||||||||||
Marketable securities | ||||||||||||||||||||||||||||||||
U.S. government | 611 | — | — | 611 | 620 | — | — | 620 | ||||||||||||||||||||||||
U.S. government-sponsored enterprises | — | 457 | — | 457 | — | 12 | — | 12 | ||||||||||||||||||||||||
Non-U.S. government agencies | — | 4 | — | 4 | — | 95 | — | 95 | ||||||||||||||||||||||||
Corporate debt | — | 1,228 | — | 1,228 | — | 1,155 | — | 1,155 | ||||||||||||||||||||||||
Mortgage-backed and other asset-backed | — | 46 | — | 46 | — | 67 | — | 67 | ||||||||||||||||||||||||
Non-U.S. government | — | 59 | — | 59 | — | 142 | — | 142 | ||||||||||||||||||||||||
Other liquid investments (b) | — | — | — | — | — | 15 | — | 15 | ||||||||||||||||||||||||
Total marketable securities | 611 | 1,794 | — | 2,405 | 620 | 1,486 | — | 2,106 | ||||||||||||||||||||||||
Derivative financial instruments | ||||||||||||||||||||||||||||||||
Interest rate contracts | — | 853 | — | 853 | — | 1,291 | — | 1,291 | ||||||||||||||||||||||||
Foreign currency exchange contracts | — | 12 | — | 12 | — | 9 | — | 9 | ||||||||||||||||||||||||
Cross-currency interest rate swap contracts | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Total derivative financial instruments (c) | — | 865 | — | 865 | — | 1,300 | — | 1,300 | ||||||||||||||||||||||||
Total assets at fair value | $ | 611 | $ | 2,725 | $ | — | $ | 3,336 | $ | 820 | $ | 2,910 | $ | — | $ | 3,730 | ||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||
Derivative financial instruments | ||||||||||||||||||||||||||||||||
Interest rate contracts | $ | — | $ | 319 | $ | — | $ | 319 | $ | — | $ | 256 | $ | — | $ | 256 | ||||||||||||||||
Foreign currency exchange contracts | — | 65 | — | 65 | — | 8 | — | 8 | ||||||||||||||||||||||||
Cross-currency interest rate swap contracts | — | 171 | — | 171 | — | 117 | — | 117 | ||||||||||||||||||||||||
Total derivative financial instruments (c) | — | 555 | — | 555 | — | 381 | — | 381 | ||||||||||||||||||||||||
Total liabilities at fair value | $ | — | $ | 555 | $ | — | $ | 555 | $ | — | $ | 381 | $ | — | $ | 381 | ||||||||||||||||
__________ | ||||||||||||||||||||||||||||||||
(a) | Excludes time deposits, certificates of deposit, and money market accounts reported at par value on our balance sheet totaling $4.5 billion and $6.5 billion at September 30, 2013 and December 31, 2012, respectively. In addition to these cash equivalents, we also had cash on hand totaling $4.5 billion and $2.6 billion at September 30, 2013 and December 31, 2012, respectively. | |||||||||||||||||||||||||||||||
(b) | Includes certificates of deposit and time deposits subject to changes in value. | |||||||||||||||||||||||||||||||
(c) | See Note 12 for additional information regarding derivative financial instruments. | |||||||||||||||||||||||||||||||
Fair values by input hierarchy of items measured at fair value on a non recurring basis [Table Text Block] | ' | |||||||||||||||||||||||||||||||
The following table summarizes the items measured at fair value subsequent to initial recognition on a nonrecurring basis, all of which are Level 3 (in millions): | ||||||||||||||||||||||||||||||||
September 30, | December 31, | |||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||
Financial Services Sector | ||||||||||||||||||||||||||||||||
North America | ||||||||||||||||||||||||||||||||
Retail receivables | $ | 36 | $ | 52 | ||||||||||||||||||||||||||||
Dealer loans | — | 2 | ||||||||||||||||||||||||||||||
Total North America | 36 | 54 | ||||||||||||||||||||||||||||||
International | ||||||||||||||||||||||||||||||||
Retail receivables | 23 | 26 | ||||||||||||||||||||||||||||||
Total International | 23 | 26 | ||||||||||||||||||||||||||||||
Total Financial Services sector | $ | 59 | $ | 80 | ||||||||||||||||||||||||||||
Schedule of nonrecurring fair value changes [Table Text Block] | ' | |||||||||||||||||||||||||||||||
The following table summarizes the total change in value of items for which a nonrecurring fair value adjustment has been included in our income statement for the periods ended September 30, related to items still held on our balance sheet at those dates (in millions): | ||||||||||||||||||||||||||||||||
Total Gains/(Losses) | ||||||||||||||||||||||||||||||||
Third Quarter | First Nine Months | |||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
Financial Services Sector | ||||||||||||||||||||||||||||||||
North America | ||||||||||||||||||||||||||||||||
Retail receivables | $ | (6 | ) | $ | (6 | ) | $ | (17 | ) | $ | (14 | ) | ||||||||||||||||||||
Dealer loans | — | — | — | — | ||||||||||||||||||||||||||||
Total North America | (6 | ) | (6 | ) | (17 | ) | (14 | ) | ||||||||||||||||||||||||
International | ||||||||||||||||||||||||||||||||
Retail receivables | (2 | ) | (6 | ) | (7 | ) | (11 | ) | ||||||||||||||||||||||||
Total International | (2 | ) | (6 | ) | (7 | ) | (11 | ) | ||||||||||||||||||||||||
Total Financial Services sector | $ | (8 | ) | $ | (12 | ) | $ | (24 | ) | $ | (25 | ) | ||||||||||||||||||||
Fair Value Inputs Quantitative Information [Table Text Block] | ' | |||||||||||||||||||||||||||||||
The following table summarizes significant unobservable inputs and the variability of those inputs to alternate methodologies (in millions): | ||||||||||||||||||||||||||||||||
September 30, 2013 | 31-Dec-12 | |||||||||||||||||||||||||||||||
Valuation Technique | Unobservable Input | Fair Value | Fair Value Range | Fair Value | Fair Value Range | |||||||||||||||||||||||||||
Automotive Sector | ||||||||||||||||||||||||||||||||
Recurring basis | ||||||||||||||||||||||||||||||||
Net commodity contracts | Income Approach | Forward commodity prices for certain commodity types. A lower forward price will result in a lower fair value. | $1 | $0 - $1 | ($8) | $(7) - $(8) | ||||||||||||||||||||||||||
Financial Services Sector | ||||||||||||||||||||||||||||||||
Nonrecurring basis | ||||||||||||||||||||||||||||||||
Retail receivables | ||||||||||||||||||||||||||||||||
North America | Income Approach | POD percentage | $36 | $23 - $36 | $52 | $38 - $52 | ||||||||||||||||||||||||||
International | Income Approach | ARV percentage | $23 | $23 - $24 | $26 | $25 - $27 | ||||||||||||||||||||||||||
Dealer loans | Income Approach | Estimated fair value | $— | $— | $2 | $1 - $3 |
Restricted_Cash_Tables
Restricted Cash (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Restricted Cash and Investments [Abstract] | ' | |||||||
Schedule of Restricted Cash [Table Text Block] | ' | |||||||
Restricted cash balances were as follows (in millions): | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Automotive sector | $ | 16 | $ | 172 | ||||
Financial Services sector | 164 | 172 | ||||||
Total Company | $ | 180 | $ | 344 | ||||
Finance_Receivables_Tables
Finance Receivables (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Financing Receivables [Line Items] | ' | |||||||||||||||||||||||
Finance receivables [Table Text Block] | ' | |||||||||||||||||||||||
Finance receivable balances were as follows (in millions): | ||||||||||||||||||||||||
September 30, | December 31, | |||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Automotive sector (a) | $ | 160 | $ | 519 | ||||||||||||||||||||
Financial Services sector | 78,021 | 75,770 | ||||||||||||||||||||||
Reclassification of receivables purchased by Financial Services sector from Automotive sector to Other receivables, net | (4,763 | ) | (4,779 | ) | ||||||||||||||||||||
Finance receivables, net | $ | 73,418 | $ | 71,510 | ||||||||||||||||||||
__________ | ||||||||||||||||||||||||
(a) | Finance receivables are reported on our sector balance sheet in Receivables, less allowances and Other assets. | |||||||||||||||||||||||
Net finance receivables [Table Text Block] | ' | |||||||||||||||||||||||
Finance receivables, net were as follows (in millions): | ||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||
North | International | Total Finance Receivables | North | International | Total Finance Receivables | |||||||||||||||||||
America | America | |||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||
Retail financing, gross | $ | 40,476 | $ | 10,327 | $ | 50,803 | $ | 39,504 | $ | 10,460 | $ | 49,964 | ||||||||||||
Less: Unearned interest supplements | (1,231 | ) | (251 | ) | (1,482 | ) | (1,264 | ) | (287 | ) | (1,551 | ) | ||||||||||||
Consumer finance receivables | $ | 39,245 | $ | 10,076 | $ | 49,321 | $ | 38,240 | $ | 10,173 | $ | 48,413 | ||||||||||||
Non-Consumer | ||||||||||||||||||||||||
Dealer financing | $ | 20,326 | $ | 7,608 | $ | 27,934 | $ | 19,429 | $ | 7,242 | $ | 26,671 | ||||||||||||
Other | 759 | 356 | 1,115 | 689 | 386 | 1,075 | ||||||||||||||||||
Non-Consumer finance receivables | 21,085 | 7,964 | 29,049 | 20,118 | 7,628 | 27,746 | ||||||||||||||||||
Total recorded investment | $ | 60,330 | $ | 18,040 | $ | 78,370 | $ | 58,358 | $ | 17,801 | $ | 76,159 | ||||||||||||
Recorded investment in finance receivables | $ | 60,330 | $ | 18,040 | $ | 78,370 | $ | 58,358 | $ | 17,801 | $ | 76,159 | ||||||||||||
Less: Allowance for credit losses | (275 | ) | (74 | ) | (349 | ) | (309 | ) | (80 | ) | (389 | ) | ||||||||||||
Finance receivables, net | $ | 60,055 | $ | 17,966 | $ | 78,021 | $ | 58,049 | $ | 17,721 | $ | 75,770 | ||||||||||||
Net finance receivables subject to fair value (a) | $ | 76,388 | $ | 73,618 | ||||||||||||||||||||
Fair value | 77,927 | 75,618 | ||||||||||||||||||||||
__________ | ||||||||||||||||||||||||
(a) | At September 30, 2013 and December 31, 2012, excludes $1.6 billion and $2.2 billion, respectively, of certain receivables (primarily direct financing leases) that are not subject to fair value disclosure requirements. All finance receivables are categorized within Level 3 of the fair value hierarchy. See Note 3 for additional information. | |||||||||||||||||||||||
Aging analysis for total finance receivables [Text Block] | ' | |||||||||||||||||||||||
The aging analysis of our Financial Services sector finance receivables balances was as follows (in millions): | ||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||
North America | International | Total | North America | International | Total | |||||||||||||||||||
Consumer | ||||||||||||||||||||||||
31-60 days past due | $ | 631 | $ | 38 | $ | 669 | $ | 783 | $ | 50 | $ | 833 | ||||||||||||
61-90 days past due | 76 | 17 | 93 | 97 | 18 | 115 | ||||||||||||||||||
91-120 days past due | 20 | 9 | 29 | 21 | 9 | 30 | ||||||||||||||||||
Greater than 120 days past due | 36 | 27 | 63 | 52 | 29 | 81 | ||||||||||||||||||
Total past due | 763 | 91 | 854 | 953 | 106 | 1,059 | ||||||||||||||||||
Current | 38,482 | 9,985 | 48,467 | 37,287 | 10,067 | 47,354 | ||||||||||||||||||
Consumer finance receivables | $ | 39,245 | $ | 10,076 | $ | 49,321 | $ | 38,240 | $ | 10,173 | $ | 48,413 | ||||||||||||
Non-Consumer | ||||||||||||||||||||||||
Total past due | $ | 28 | $ | 39 | $ | 67 | $ | 29 | $ | 11 | $ | 40 | ||||||||||||
Current | 21,057 | 7,925 | 28,982 | 20,089 | 7,617 | 27,706 | ||||||||||||||||||
Non-Consumer finance receivables | 21,085 | 7,964 | 29,049 | 20,118 | 7,628 | 27,746 | ||||||||||||||||||
Total recorded investment | $ | 60,330 | $ | 18,040 | $ | 78,370 | $ | 58,358 | $ | 17,801 | $ | 76,159 | ||||||||||||
Non-consumer [Member] | ' | |||||||||||||||||||||||
Financing Receivables [Line Items] | ' | |||||||||||||||||||||||
Financing receivable credit quality indicators [Table Text Block] | ' | |||||||||||||||||||||||
The credit quality analysis of our dealer financing receivables were as follows (in millions): | ||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||
North America | International | Total | North America | International | Total | |||||||||||||||||||
Dealer Financing | ||||||||||||||||||||||||
Group I | $ | 17,006 | $ | 4,913 | $ | 21,919 | $ | 16,526 | $ | 4,551 | $ | 21,077 | ||||||||||||
Group II | 2,970 | 2,059 | 5,029 | 2,608 | 1,405 | 4,013 | ||||||||||||||||||
Group III | 349 | 603 | 952 | 277 | 1,279 | 1,556 | ||||||||||||||||||
Group IV | 1 | 33 | 34 | 18 | 7 | 25 | ||||||||||||||||||
Total recorded investment | $ | 20,326 | $ | 7,608 | $ | 27,934 | $ | 19,429 | $ | 7,242 | $ | 26,671 | ||||||||||||
Allowance_for_Credit_Losses_Ta
Allowance for Credit Losses (Tables) (Financial Services [Member]) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Financial Services [Member] | ' | |||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | |||||||||||||||||||
Allowance For Credit Losses on Financing And Loans And Leases Receivable [Table Text Block] | ' | |||||||||||||||||||
Following is an analysis of the allowance for credit losses related to finance receivables and net investment in operating leases for the periods ended September 30 (in millions): | ||||||||||||||||||||
Third Quarter 2013 | ||||||||||||||||||||
Finance Receivables | Net Investment in | |||||||||||||||||||
Consumer | Non-Consumer | Total | Operating Leases | Total Allowance | ||||||||||||||||
Allowance for credit losses | ||||||||||||||||||||
Beginning balance | $ | 324 | $ | 31 | $ | 355 | $ | 23 | $ | 378 | ||||||||||
Charge-offs | (71 | ) | (3 | ) | (74 | ) | (17 | ) | (91 | ) | ||||||||||
Recoveries | 32 | 1 | 33 | 11 | 44 | |||||||||||||||
Provision for credit losses | 32 | (1 | ) | 31 | 1 | 32 | ||||||||||||||
Other (a) | 3 | 1 | 4 | 1 | 5 | |||||||||||||||
Ending balance | $ | 320 | $ | 29 | $ | 349 | $ | 19 | $ | 368 | ||||||||||
First Nine Months 2013 | ||||||||||||||||||||
Finance Receivables | Net Investment in | |||||||||||||||||||
Consumer | Non-Consumer | Total | Operating Leases | Total Allowance | ||||||||||||||||
Allowance for credit losses | ||||||||||||||||||||
Beginning balance | $ | 360 | $ | 29 | $ | 389 | $ | 23 | $ | 412 | ||||||||||
Charge-offs | (212 | ) | (13 | ) | (225 | ) | (47 | ) | (272 | ) | ||||||||||
Recoveries | 109 | 4 | 113 | 35 | 148 | |||||||||||||||
Provision for credit losses | 65 | 8 | 73 | 8 | 81 | |||||||||||||||
Other (a) | (2 | ) | 1 | (1 | ) | — | (1 | ) | ||||||||||||
Ending balance | $ | 320 | $ | 29 | $ | 349 | $ | 19 | $ | 368 | ||||||||||
Analysis of ending balance of allowance for | ||||||||||||||||||||
credit losses | ||||||||||||||||||||
Collective impairment allowance | $ | 298 | $ | 27 | $ | 325 | $ | 19 | $ | 344 | ||||||||||
Specific impairment allowance | 22 | 2 | 24 | — | 24 | |||||||||||||||
Ending balance | $ | 320 | $ | 29 | $ | 349 | $ | 19 | $ | 368 | ||||||||||
Analysis of ending balance of finance receivables and net investment in operating leases | ||||||||||||||||||||
Collectively evaluated for impairment | $ | 48,897 | $ | 28,991 | $ | 77,888 | $ | 19,144 | ||||||||||||
Specifically evaluated for impairment | 424 | 58 | 482 | — | ||||||||||||||||
Recorded investment (b) | $ | 49,321 | $ | 29,049 | $ | 78,370 | $ | 19,144 | ||||||||||||
Ending balance, net of allowance for credit losses | $ | 49,001 | $ | 29,020 | $ | 78,021 | $ | 19,125 | ||||||||||||
__________ | ||||||||||||||||||||
(a) | Represents amounts related to translation adjustments. | |||||||||||||||||||
(b) | Represents finance receivables and net investment in operating leases before allowance for credit losses. | |||||||||||||||||||
NOTE 6. ALLOWANCE FOR CREDIT LOSSES (Continued) | ||||||||||||||||||||
Third Quarter 2012 | ||||||||||||||||||||
Finance Receivables | Net Investment in | |||||||||||||||||||
Consumer | Non-Consumer | Total | Operating Leases | Total Allowance | ||||||||||||||||
Allowance for credit losses | ||||||||||||||||||||
Beginning balance | $ | 365 | $ | 19 | $ | 384 | $ | 26 | $ | 410 | ||||||||||
Charge-offs | (78 | ) | (1 | ) | (79 | ) | (11 | ) | (90 | ) | ||||||||||
Recoveries | 41 | 3 | 44 | 11 | 55 | |||||||||||||||
Provision for credit losses | 45 | (2 | ) | 43 | (1 | ) | 42 | |||||||||||||
Other (a) | 3 | (1 | ) | 2 | 1 | 3 | ||||||||||||||
Ending balance | $ | 376 | $ | 18 | $ | 394 | $ | 26 | $ | 420 | ||||||||||
First Nine Months 2012 | ||||||||||||||||||||
Finance Receivables | Net Investment in | |||||||||||||||||||
Consumer | Non-Consumer | Total | Operating Leases | Total Allowance | ||||||||||||||||
Allowance for credit losses | ||||||||||||||||||||
Beginning balance | $ | 457 | $ | 44 | $ | 501 | $ | 40 | $ | 541 | ||||||||||
Charge-offs | (230 | ) | (8 | ) | (238 | ) | (35 | ) | (273 | ) | ||||||||||
Recoveries | 135 | 10 | 145 | 39 | 184 | |||||||||||||||
Provision for credit losses | 13 | (28 | ) | (15 | ) | (18 | ) | (33 | ) | |||||||||||
Other (a) | 1 | — | 1 | — | 1 | |||||||||||||||
Ending balance | $ | 376 | $ | 18 | $ | 394 | $ | 26 | $ | 420 | ||||||||||
Analysis of ending balance of allowance for | ||||||||||||||||||||
credit losses | ||||||||||||||||||||
Collective impairment allowance | $ | 358 | $ | 16 | $ | 374 | $ | 26 | $ | 400 | ||||||||||
Specific impairment allowance | 18 | 2 | 20 | — | 20 | |||||||||||||||
Ending balance | $ | 376 | $ | 18 | $ | 394 | $ | 26 | $ | 420 | ||||||||||
Analysis of ending balance of finance receivables and net investment in operating leases | ||||||||||||||||||||
Collectively evaluated for impairment | $ | 47,796 | $ | 24,724 | $ | 72,520 | $ | 14,315 | ||||||||||||
Specifically evaluated for impairment | 411 | 61 | 472 | — | ||||||||||||||||
Recorded investment (b) | $ | 48,207 | $ | 24,785 | $ | 72,992 | $ | 14,315 | ||||||||||||
Ending balance, net of allowance for credit losses | $ | 47,831 | $ | 24,767 | $ | 72,598 | $ | 14,289 | ||||||||||||
__________ | ||||||||||||||||||||
(a) | Represents amounts related to translation adjustments. | |||||||||||||||||||
(b) | Represents finance receivables and net investment in operating leases before allowance for credit losses. |
Inventories_Tables
Inventories (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
Schedule of Inventory [Table Text Block] | ' | |||||||
Inventories were as follows (in millions): | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Raw materials, work-in-process, and supplies | $ | 4,191 | $ | 3,697 | ||||
Finished products | 5,591 | 4,614 | ||||||
Total inventories under FIFO | 9,782 | 8,311 | ||||||
Less: LIFO adjustment | (983 | ) | (949 | ) | ||||
Total inventories | $ | 8,799 | $ | 7,362 | ||||
Variable_Interest_Entities_Tab
Variable Interest Entities (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Automotive [Member] | ' | |||||||||||||||
Variable Interest Entity [Line Items] | ' | |||||||||||||||
Schedule of maximum exposure to variable interest entities assets and liabilities [Table Text Block] | ' | |||||||||||||||
Our maximum exposure to loss from VIEs of which we are not the primary beneficiary was as follows (in millions): | ||||||||||||||||
September 30, | December 31, | Change in | ||||||||||||||
2013 | 2012 | Maximum | ||||||||||||||
Exposure | ||||||||||||||||
Investments | $ | 262 | $ | 242 | $ | 20 | ||||||||||
Supplier arrangements | 7 | 5 | 2 | |||||||||||||
Total maximum exposure | $ | 269 | $ | 247 | $ | 22 | ||||||||||
Financial Services [Member] | ' | |||||||||||||||
Variable Interest Entity [Line Items] | ' | |||||||||||||||
Schedule of assets to be used to settle consolidated Variable Interest Entities debt [Table Text Block] | ' | |||||||||||||||
The following table includes assets to be used to settle the liabilities of the consolidated VIEs. We may retain debt issued by consolidated VIEs and this debt is excluded from the table below. We hold the right to the excess cash flows from the assets that are not needed to pay liabilities of the consolidated VIEs. The assets and debt reflected on our consolidated balance sheet were as follows (in billions): | ||||||||||||||||
September 30, 2013 | ||||||||||||||||
Cash and Cash | Finance | Debt | ||||||||||||||
Equivalents | Receivables, Net | |||||||||||||||
and | ||||||||||||||||
Net Investment in | ||||||||||||||||
Operating Leases | ||||||||||||||||
Finance receivables | ||||||||||||||||
Retail | $ | 1.9 | $ | 22 | $ | 19.6 | ||||||||||
Wholesale | 0.4 | 21.1 | 14.3 | |||||||||||||
Total finance receivables | 2.3 | 43.1 | 33.9 | |||||||||||||
Net investment in operating leases | 0.4 | 7 | 4.6 | |||||||||||||
Total | $ | 2.7 | $ | 50.1 | $ | 38.5 | ||||||||||
December 31, 2012 | ||||||||||||||||
Cash and Cash | Finance | Debt | ||||||||||||||
Equivalents | Receivables, Net | |||||||||||||||
and | ||||||||||||||||
Net Investment in | ||||||||||||||||
Operating Leases | ||||||||||||||||
Finance receivables | ||||||||||||||||
Retail | $ | 2.2 | $ | 27 | $ | 23.2 | ||||||||||
Wholesale | 0.3 | 20.5 | 12.8 | |||||||||||||
Total finance receivables | 2.5 | 47.5 | 36 | |||||||||||||
Net investment in operating leases | 0.4 | 6.3 | 4.2 | |||||||||||||
Total (a) | $ | 2.9 | $ | 53.8 | $ | 40.2 | ||||||||||
__________ | ||||||||||||||||
(a) | Certain notes issued by the VIEs to affiliated companies served as collateral for accessing the European Central Bank open market operations program. This external funding of $145 million at December 31, 2012 was not reflected as debt of the VIEs and is excluded from the table above, but was included in our consolidated debt. The finance receivables backing this external funding are included in the table above | |||||||||||||||
Financial Services [Member] | Ford Credit [Member] | ' | |||||||||||||||
Variable Interest Entity [Line Items] | ' | |||||||||||||||
Schedule of maximum exposure to variable interest entities derivatives [Table Text Block] | ' | |||||||||||||||
Our exposures based on the fair value of derivative instruments with external counterparties related to consolidated VIEs that support our securitization transactions were as follows (in millions): | ||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||
Derivative | Derivative | Derivative | Derivative | |||||||||||||
Asset | Liability | Asset | Liability | |||||||||||||
Derivatives of the VIEs | $ | 4 | $ | 76 | $ | 4 | $ | 134 | ||||||||
Derivatives related to the VIEs | 30 | 28 | 74 | 63 | ||||||||||||
Total exposures related to the VIEs | $ | 34 | $ | 104 | $ | 78 | $ | 197 | ||||||||
Schedule of financial performance of variable interest entities [Table Text Block] | ' | |||||||||||||||
Derivative expense/(income) related to consolidated VIEs that support Ford Credit’s securitization programs for the periods ended September 30 was as follows (in millions): | ||||||||||||||||
Third Quarter | First Nine Months | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
VIEs | $ | 73 | $ | 58 | $ | (20 | ) | $ | 209 | |||||||
Related to the VIEs | (2 | ) | 8 | 8 | (7 | ) | ||||||||||
Total derivative expense/(income) related to the VIEs | $ | 71 | $ | 66 | $ | (12 | ) | $ | 202 | |||||||
Accrued_Liabilities_and_Deferr1
Accrued Liabilities and Deferred Revenue (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
ACCRUED LIABILITIES AND DEFERRED REVENUE [Abstract] | ' | |||||||
Schedule of Accrued Liabilities and Deferred Revenue [Table Text Block] | ' | |||||||
Accrued liabilities and deferred revenue were as follows (in millions): | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Automotive Sector | ||||||||
Current | ||||||||
Dealer and dealers’ customer allowances and claims | $ | 7,377 | $ | 6,779 | ||||
Deferred revenue | 3,232 | 2,796 | ||||||
Employee benefit plans | 1,660 | 1,504 | ||||||
Accrued interest | 239 | 277 | ||||||
Other postretirement employee benefits (“OPEB”) | 406 | 409 | ||||||
Pension (a) | 399 | 387 | ||||||
Other | 3,106 | 3,206 | ||||||
Total Automotive accrued liabilities and deferred revenue | 16,419 | 15,358 | ||||||
Non-current | ||||||||
Pension (a) | 13,792 | 18,400 | ||||||
OPEB | 6,296 | 6,398 | ||||||
Dealer and dealers’ customer allowances and claims | 2,007 | 2,036 | ||||||
Deferred revenue | 2,503 | 2,044 | ||||||
Employee benefit plans | 732 | 767 | ||||||
Other | 1,550 | 904 | ||||||
Total Automotive other liabilities | 26,880 | 30,549 | ||||||
Total Automotive sector | 43,299 | 45,907 | ||||||
Financial Services Sector | 4,034 | 3,500 | ||||||
Total Company | $ | 47,333 | $ | 49,407 | ||||
__________ | ||||||||
(a) | Balances at September 30, 2013 reflect net pension liabilities at December 31, 2012, updated for year-to-date service and interest cost, expected return on assets, separation expense, actual benefit payments, and cash contributions. Except in the case of the U.S. salaried pension plan remeasurement discussed in Note 10, the discount rate and rate of expected return assumptions are unchanged from year-end 2012. |
Retirement_Benefits_Tables
Retirement Benefits (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||||||||||
Schedule of defined benefit plans expense [Table Text Block] | ' | |||||||||||||||||||||||
The pre-tax expense for our defined benefit pension and OPEB plans for the periods ended September 30 was as follows (in millions): | ||||||||||||||||||||||||
Third Quarter | ||||||||||||||||||||||||
Pension Benefits | ||||||||||||||||||||||||
U.S. Plans | Non-U.S. Plans | Worldwide OPEB | ||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
Service cost | $ | 140 | $ | 130 | $ | 119 | $ | 92 | $ | 16 | $ | 17 | ||||||||||||
Interest cost | 479 | 552 | 280 | 293 | 63 | 72 | ||||||||||||||||||
Expected return on assets | (685 | ) | (718 | ) | (339 | ) | (332 | ) | — | — | ||||||||||||||
Amortization of | ||||||||||||||||||||||||
Prior service costs/(credits) | 44 | 55 | 16 | 18 | (71 | ) | (137 | ) | ||||||||||||||||
(Gains)/Losses | 136 | 106 | 170 | 102 | 39 | 33 | ||||||||||||||||||
Separation programs/other | 1 | (1 | ) | 69 | 9 | 2 | — | |||||||||||||||||
(Gains)/Losses from curtailments and settlements | 145 | — | — | — | (2 | ) | — | |||||||||||||||||
Net expense/(income) | $ | 260 | $ | 124 | $ | 315 | $ | 182 | $ | 47 | $ | (15 | ) | |||||||||||
First Nine Months | ||||||||||||||||||||||||
Pension Benefits | ||||||||||||||||||||||||
U.S. Plans | Non-U.S. Plans | Worldwide OPEB | ||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
Service cost | $ | 443 | $ | 390 | $ | 360 | $ | 278 | $ | 48 | $ | 51 | ||||||||||||
Interest cost | 1,434 | 1,656 | 847 | 889 | 192 | 216 | ||||||||||||||||||
Expected return on assets | (2,133 | ) | (2,154 | ) | (1,029 | ) | (1,001 | ) | — | — | ||||||||||||||
Amortization of | ||||||||||||||||||||||||
Prior service costs/(credits) | 131 | 165 | 49 | 54 | (213 | ) | (409 | ) | ||||||||||||||||
(Gains)/Losses | 526 | 318 | 513 | 308 | 119 | 97 | ||||||||||||||||||
Separation programs/other | 5 | 4 | 220 | 54 | 2 | 1 | ||||||||||||||||||
(Gains)/Losses from curtailments and settlements | 439 | — | — | — | (2 | ) | (10 | ) | ||||||||||||||||
Net expense/(income) | $ | 845 | $ | 379 | $ | 960 | $ | 582 | $ | 146 | $ | (54 | ) | |||||||||||
Debt_And_Commitments_Tables
Debt And Commitments (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Schedule of debt outstanding [Table Text Block] | ' | |||||||
The carrying value of our debt was as follows (in millions): | ||||||||
Automotive Sector | September 30, | December 31, | ||||||
2013 | 2012 | |||||||
Debt payable within one year | ||||||||
Short-term | $ | 580 | $ | 484 | ||||
Long-term payable within one year | ||||||||
U.S. Department of Energy (“DOE”) Advanced Technology Vehicles Manufacturing (“ATVM”) Incentive Program | 591 | 591 | ||||||
Other debt | 142 | 311 | ||||||
Total debt payable within one year | 1,313 | 1,386 | ||||||
Long-term debt payable after one year | ||||||||
Public unsecured debt securities (a) | 6,797 | 5,420 | ||||||
Unamortized (discount)/premium | (149 | ) | (100 | ) | ||||
Convertible notes | 908 | 908 | ||||||
Unamortized (discount)/premium | (119 | ) | (142 | ) | ||||
DOE ATVM Incentive Program | 4,571 | 5,014 | ||||||
EIB Credit Facilities (b) | 1,268 | 729 | ||||||
Other debt | 1,231 | 1,048 | ||||||
Unamortized (discount)/premium | 4 | (7 | ) | |||||
Total long-term debt payable after one year | 14,511 | 12,870 | ||||||
Total Automotive sector | $ | 15,824 | $ | 14,256 | ||||
Fair value of Automotive sector debt (c) | $ | 17,542 | $ | 14,867 | ||||
Financial Services Sector | ||||||||
Short-term debt | ||||||||
Asset-backed commercial paper | $ | 4,036 | $ | 5,752 | ||||
Other asset-backed short-term debt | 1,320 | 3,762 | ||||||
Floating rate demand notes | 5,352 | 4,890 | ||||||
Commercial paper | 2,067 | 1,686 | ||||||
Other short-term debt | 1,871 | 1,655 | ||||||
Total short-term debt | 14,646 | 17,745 | ||||||
Long-term debt | ||||||||
Unsecured debt | ||||||||
Notes payable within one year | 5,743 | 5,830 | ||||||
Notes payable after one year | 36,697 | 32,503 | ||||||
Asset-backed debt | ||||||||
Notes payable within one year | 16,729 | 13,801 | ||||||
Notes payable after one year | 20,831 | 20,266 | ||||||
Unamortized (discount)/premium | (107 | ) | (134 | ) | ||||
Fair value adjustments (d) | 259 | 791 | ||||||
Total long-term debt | 80,152 | 73,057 | ||||||
Total Financial Services sector | $ | 94,798 | $ | 90,802 | ||||
Fair value of Financial Services sector debt (c) | $ | 98,018 | $ | 94,578 | ||||
Total Company | $ | 110,622 | $ | 105,058 | ||||
__________ | ||||||||
(a) | Public unsecured debt securities at September 30, 2013 increased by about $1.4 billion from December 31, 2012, primarily reflecting the issuance of $2 billion of 4.75% Notes due January 15, 2043, offset partially by the redemption of about $600 million of 7.50% Notes due June 10, 2043. | |||||||
(b) | Includes EIB Credit Facilities debt due to the consolidation of Ford Romania, SA (“Ford Romania”) on January 1, 2013. See Note 18 for additional information. | |||||||
(c) | The fair value of debt includes $374 million and $484 million of Automotive sector short-term debt and $9.3 billion and $8.4 billion of Financial Services sector short-term debt at September 30, 2013 and December 31, 2012, respectively, carried at cost which approximates fair value. All debt is categorized within Level 2 of the fair value hierarchy. See Note 3 for additional information. | |||||||
(d) | Adjustments related to designated fair value hedges of unsecured debt. |
Derivative_Financial_Instrumen1
Derivative Financial Instruments and Hedging Activities (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||||||||||
Income Effect of Derivative Instruments [Table Text Block] | ' | |||||||||||||||||||||||
The following table summarizes by hedge designation the pre-tax gains/(losses) recorded in Other comprehensive income/(loss) (“OCI”), reclassified from Accumulated other comprehensive income/(loss) to income and/or recognized directly in income for the periods ended September 30 (in millions): | ||||||||||||||||||||||||
Third Quarter 2013 | First Nine Months 2013 | |||||||||||||||||||||||
Gain/(Loss) Recorded | Gain/(Loss) | Gain/(Loss) Recognized | Gain/(Loss) Recorded | Gain/(Loss) | Gain/(Loss) Recognized | |||||||||||||||||||
in OCI | Reclassified | in Income | in OCI | Reclassified | in Income | |||||||||||||||||||
from AOCI | from AOCI | |||||||||||||||||||||||
to Income | to Income | |||||||||||||||||||||||
Automotive Sector | ||||||||||||||||||||||||
Cash flow hedges | ||||||||||||||||||||||||
Foreign currency exchange contracts | $ | (126 | ) | $ | 23 | $ | — | $ | 169 | $ | (102 | ) | $ | (3 | ) | |||||||||
Derivatives not designated as hedging instruments | ||||||||||||||||||||||||
Foreign currency exchange contracts | $ | (24 | ) | $ | 21 | |||||||||||||||||||
Commodity contracts | 8 | (67 | ) | |||||||||||||||||||||
Total | $ | (16 | ) | $ | (46 | ) | ||||||||||||||||||
Financial Services Sector | ||||||||||||||||||||||||
Fair value hedges | ||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Net interest settlements and accruals excluded from the assessment of hedge effectiveness | $ | 63 | $ | 186 | ||||||||||||||||||||
Ineffectiveness (a) | (3 | ) | (33 | ) | ||||||||||||||||||||
Total | $ | 60 | $ | 153 | ||||||||||||||||||||
Derivatives not designated as hedging instruments | ||||||||||||||||||||||||
Interest rate contracts | $ | (19 | ) | $ | (25 | ) | ||||||||||||||||||
Foreign currency exchange contracts | (55 | ) | 37 | |||||||||||||||||||||
Cross-currency interest rate swap contracts | (131 | ) | (37 | ) | ||||||||||||||||||||
Total | $ | (205 | ) | $ | (25 | ) | ||||||||||||||||||
__________ | ||||||||||||||||||||||||
(a) | For the third quarter and first nine months of 2013, hedge ineffectiveness reflects change in fair value on derivatives of $67 million gain and$501 million loss, respectively, and change in value on hedged debt attributable to the change in benchmark interest rate of $70 million loss and $468 million gain, respectively. | |||||||||||||||||||||||
NOTE 12. DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Continued) | ||||||||||||||||||||||||
Third Quarter 2012 | First Nine Months 2012 | |||||||||||||||||||||||
Gain/(Loss) Recorded | Gain/(Loss) | Gain/(Loss) Recognized | Gain/(Loss) Recorded | Gain/(Loss) | Gain/(Loss) Recognized | |||||||||||||||||||
in OCI | Reclassified | in Income | in OCI | Reclassified | in Income | |||||||||||||||||||
from AOCI | from AOCI | |||||||||||||||||||||||
to Income | to Income | |||||||||||||||||||||||
Automotive Sector | ||||||||||||||||||||||||
Cash flow hedges | ||||||||||||||||||||||||
Foreign currency exchange contracts | $ | (131 | ) | $ | (129 | ) | $ | (2 | ) | $ | (500 | ) | $ | (279 | ) | $ | (2 | ) | ||||||
Derivatives not designated as hedging instruments | ||||||||||||||||||||||||
Foreign currency exchange contracts | $ | (75 | ) | $ | (110 | ) | ||||||||||||||||||
Commodity contracts | 96 | (19 | ) | |||||||||||||||||||||
Other – warrants | — | (4 | ) | |||||||||||||||||||||
Total | $ | 21 | $ | (133 | ) | |||||||||||||||||||
Financial Services Sector | ||||||||||||||||||||||||
Fair value hedges | ||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Net interest settlements and accruals excluded from the assessment of hedge effectiveness | $ | 44 | $ | 126 | ||||||||||||||||||||
Ineffectiveness (a) | 6 | 8 | ||||||||||||||||||||||
Total | $ | 50 | $ | 134 | ||||||||||||||||||||
Derivatives not designated as hedging instruments | ||||||||||||||||||||||||
Interest rate contracts | $ | (8 | ) | $ | (12 | ) | ||||||||||||||||||
Foreign currency exchange contracts | (16 | ) | (70 | ) | ||||||||||||||||||||
Cross-currency interest rate swap contracts | (61 | ) | (109 | ) | ||||||||||||||||||||
Other | — | (81 | ) | |||||||||||||||||||||
Total | $ | (85 | ) | $ | (272 | ) | ||||||||||||||||||
__________ | ||||||||||||||||||||||||
(a) | For the third quarter and first nine months of 2012, hedge ineffectiveness reflects change in fair value on derivatives of $118 million gain and $276 million gain, respectively, and change in value on hedged debt attributable to the change in benchmark interest rate of $112 million loss and $268 million loss, respectively. | |||||||||||||||||||||||
Balance Sheet Effect of Derivative Instruments [Table Text Block] | ' | |||||||||||||||||||||||
The following table summarizes the notional amount and estimated fair value of our derivative financial instruments (in millions): | ||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||
Notional | Fair Value of | Fair Value of | Notional | Fair Value of | Fair Value of | |||||||||||||||||||
Assets | Liabilities | Assets | Liabilities | |||||||||||||||||||||
Automotive Sector | ||||||||||||||||||||||||
Cash flow hedges | ||||||||||||||||||||||||
Foreign currency exchange contracts | $ | 17,818 | $ | 301 | $ | 175 | $ | 17,663 | $ | 150 | $ | 357 | ||||||||||||
Derivatives not designated as hedging instruments | ||||||||||||||||||||||||
Foreign currency exchange contracts | 11,242 | 141 | 215 | 9,225 | 68 | 129 | ||||||||||||||||||
Commodity contracts | 2,411 | 23 | 22 | 1,854 | 23 | 124 | ||||||||||||||||||
Total derivatives not designated as hedging instruments | 13,653 | 164 | 237 | 11,079 | 91 | 253 | ||||||||||||||||||
Total Automotive sector derivative financial instruments | $ | 31,471 | $ | 465 | $ | 412 | $ | 28,742 | $ | 241 | $ | 610 | ||||||||||||
Financial Services Sector | ||||||||||||||||||||||||
Fair value hedges | ||||||||||||||||||||||||
Interest rate contracts | $ | 19,334 | $ | 467 | $ | 172 | $ | 16,754 | $ | 787 | $ | 8 | ||||||||||||
Derivatives not designated as hedging instruments | ||||||||||||||||||||||||
Interest rate contracts | 67,768 | 386 | 147 | 68,919 | 504 | 248 | ||||||||||||||||||
Foreign currency exchange contracts | 2,942 | 12 | 65 | 2,378 | 9 | 8 | ||||||||||||||||||
Cross-currency interest rate swap contracts | 3,252 | — | 171 | 3,006 | — | 117 | ||||||||||||||||||
Total derivatives not designated as hedging instruments | 73,962 | 398 | 383 | 74,303 | 513 | 373 | ||||||||||||||||||
Total Financial Services sector derivative financial instruments | $ | 93,296 | $ | 865 | $ | 555 | $ | 91,057 | $ | 1,300 | $ | 381 | ||||||||||||
Offsetting Derivative Assets and Liabilities [Table Text Block] | ' | |||||||||||||||||||||||
The gross and net amounts of derivative assets and liabilities were as follows (in millions): | ||||||||||||||||||||||||
September 30, 2013 | 31-Dec-12 | |||||||||||||||||||||||
Fair Value of Assets | Fair Value of Liabilities | Fair Value of Assets | Fair Value of Liabilities | |||||||||||||||||||||
Automotive Sector | ||||||||||||||||||||||||
Gross derivative amounts recognized in the balance sheet | $ | 465 | $ | 412 | $ | 241 | $ | 610 | ||||||||||||||||
Gross derivative amounts not offset in the balance sheet that are eligible for offsetting | (342 | ) | (342 | ) | (218 | ) | (218 | ) | ||||||||||||||||
Net amount | $ | 123 | $ | 70 | $ | 23 | $ | 392 | ||||||||||||||||
Financial Services Sector | ||||||||||||||||||||||||
Gross derivative amounts recognized in the balance sheet | $ | 865 | $ | 555 | $ | 1,300 | $ | 381 | ||||||||||||||||
Gross derivative amounts not offset in the balance sheet that are eligible for offsetting | (346 | ) | (346 | ) | (222 | ) | (222 | ) | ||||||||||||||||
Net amount | $ | 519 | $ | 209 | $ | 1,078 | $ | 159 | ||||||||||||||||
Redeemable_Noncontrolling_Inte1
Redeemable Noncontrolling Interest (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Redeemable Noncontrolling Interests [Abstract] | ' | |||||||
Redeemable Noncontrolling Interest [Table Text Block] | ' | |||||||
The following table summarizes the changes in our redeemable noncontrolling interest for the periods ended September 30 (in millions): | ||||||||
First Nine Months | ||||||||
2013 | 2012 | |||||||
Beginning balance (a) | $ | 322 | $ | 319 | ||||
Accretion to the redemption value of noncontrolling interest (recognized in Interest expense) | 7 | 1 | ||||||
Ending balance | $ | 329 | $ | 320 | ||||
__________ | ||||||||
(a) | The 2012 beginning balance reflects the fair value of redeemable noncontrolling interest at September 1, 2012, the date of the AAI acquisition. See Note 18 for additional information. |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income/(Loss) (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||
The following table summarizes the changes in the accumulated balances for each component of AOCI attributable to Ford Motor Company for the periods ended September 30 (in millions): | ||||||||
First Nine Months | ||||||||
2013 | 2012 | |||||||
Foreign currency translation | ||||||||
Beginning balance | $ | (1,241 | ) | $ | (1,383 | ) | ||
Net gain/(loss) on foreign currency translation | (597 | ) | 185 | |||||
Reclassifications to net income (a) | 111 | — | ||||||
Other comprehensive income/(loss), net of tax | (486 | ) | 185 | |||||
Ending balance | $ | (1,727 | ) | $ | (1,198 | ) | ||
Derivative instruments (b) | ||||||||
Beginning balance | $ | (175 | ) | $ | (181 | ) | ||
Net gain/(loss) on derivative instruments (net of tax of $52 and tax benefit of $153) | 117 | (347 | ) | |||||
Reclassifications to net income (net of tax of $28 and $83) (c) | 74 | 196 | ||||||
Other comprehensive income/(loss), net of tax | 191 | (151 | ) | |||||
Ending balance | $ | 16 | $ | (332 | ) | |||
Pension and other postretirement benefits | ||||||||
Beginning balance | $ | (21,438 | ) | $ | (17,170 | ) | ||
Net gain/(loss) arising during the period (net of tax of $271 and $0) | 498 | — | ||||||
Amortization of prior service (credit)/cost included in net income (net of tax benefit of $21 and $84) (d) | (14 | ) | (116 | ) | ||||
Amortization of (gain)/loss included in net income (net of tax of $481 and $225) (d) | 1,116 | 498 | ||||||
Translation impact on non-U.S. plans | 40 | (223 | ) | |||||
Other comprehensive income/(loss), net of tax | 1,640 | 159 | ||||||
Ending balance | $ | (19,798 | ) | $ | (17,011 | ) | ||
Total AOCI ending balance at September 30 | $ | (21,509 | ) | $ | (18,541 | ) | ||
__________ | ||||||||
(a) | The accumulated translation adjustments related to an investment in a foreign subsidiary are reclassified to net income upon sale or upon complete or substantially complete liquidation of the entity and are recognized in Automotive interest income and other income/(loss), net or Financial Services other income/(loss), net. | |||||||
(b) | We expect to reclassify existing net gains of $44 million from Accumulated other comprehensive income/(loss) to Automotive cost of sales during the next twelve months as the underlying exposures are realized. | |||||||
(c) | Gain/(loss) on cash flow hedges is reclassified from AOCI to income when the hedged item affects earnings and is recognized in Automotive cost of sales. See Note 12 for additional information. | |||||||
(d) | These AOCI components are included in the computation of net periodic pension cost. See Note 10 for additional information. | |||||||
Other_Income_Loss_Tables
Other Income (Loss) (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Automotive [Member] | ' | |||||||||||||||
Other Income (Loss) and Debt Reduction Actions [Line Items] | ' | |||||||||||||||
Schedule of other income/(loss) [Table Text Block] | ' | |||||||||||||||
The following table summarizes amounts included in Automotive interest income and other income/(loss), net for the periods ended September 30 (in millions): | ||||||||||||||||
Third Quarter | First Nine Months | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Interest income | $ | 38 | $ | 68 | $ | 125 | $ | 220 | ||||||||
Realized and unrealized gains/(losses) on cash equivalents and marketable securities | 67 | 23 | 147 | 28 | ||||||||||||
Gains/(Losses) on changes in investments in affiliates | (104 | ) | 154 | (114 | ) | (32 | ) | |||||||||
Gains/(Losses) on extinguishment of debt | — | — | (18 | ) | — | |||||||||||
Royalty income | 148 | 106 | 409 | 288 | ||||||||||||
Other | 51 | 76 | 137 | 171 | ||||||||||||
Total | $ | 200 | $ | 427 | $ | 686 | $ | 675 | ||||||||
Financial Services [Member] | ' | |||||||||||||||
Other Income (Loss) and Debt Reduction Actions [Line Items] | ' | |||||||||||||||
Schedule of other income/(loss) [Table Text Block] | ' | |||||||||||||||
The following table summarizes amounts included in Financial Services other income/(loss), net for the periods ended September 30 (in millions): | ||||||||||||||||
Third Quarter | First Nine Months | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Interest income (investment-related) | $ | 12 | $ | 17 | $ | 40 | $ | 54 | ||||||||
Realized and unrealized gains/(losses) on cash equivalents and marketable securities | 5 | 4 | (2 | ) | 17 | |||||||||||
Insurance premiums earned | 28 | 24 | 87 | 75 | ||||||||||||
Other | 55 | 59 | 145 | 114 | ||||||||||||
Total | $ | 100 | $ | 104 | $ | 270 | $ | 260 | ||||||||
Employee_Separation_Actions_an1
Employee Separation Actions and Exit and Disposal Activities (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Employee Separation Actions and Exit and Disposal Activities [Abstract] | ' | |||||||
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | ' | |||||||
The following table summarizes the separation-related activity, excluding pension, recorded in Accrued liabilities and deferred revenue, for the period ended September 30 (in millions): | ||||||||
Third Quarter 2013 | First | |||||||
Nine Months | ||||||||
2013 | ||||||||
Beginning balance | $ | 287 | $ | — | ||||
Changes in accruals (a) | 196 | 483 | ||||||
Payments | (93 | ) | (95 | ) | ||||
Foreign currency translation | 11 | 13 | ||||||
Ending balance | $ | 401 | $ | 401 | ||||
Dispositions_Changes_in_Invest1
Dispositions, Changes in Investments in Affiliates and Assets Held For Sale (Tables) (Ford Romania SA [Member]) | 0 Months Ended | |||
Jan. 02, 2013 | ||||
Ford Romania SA [Member] | ' | |||
Dispositions, Changes in Investments in Affiliates and Assets Held For Sale [Line Items] | ' | |||
Schedule of Purchase Price Allocation [Table Text Block] | ' | |||
The fair value of 100% of Ford Romania’s identifiable net assets was $48 million, as shown below (in millions): | ||||
January 1, | ||||
2013 | ||||
Assets | ||||
Cash and cash equivalents | $ | 9 | ||
Receivables | 119 | |||
Inventories | 70 | |||
Net property | 927 | |||
Other assets | 112 | |||
Total assets of Ford Romania (a) | $ | 1,237 | ||
Liabilities | ||||
Payables | $ | 232 | ||
Accrued liabilities | 72 | |||
Debt | 881 | |||
Other liabilities | 4 | |||
Total liabilities of Ford Romania (a) | $ | 1,189 | ||
__________ | ||||
(a) | As of January 1, 2013, intercompany assets of $68 million and intercompany liabilities of $360 million have been eliminated in both consolidated and sector balance sheets. |
Amounts_Per_Share_Tables
Amounts Per Share (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block] | ' | |||||||||||||||
Basic and diluted income per share were calculated using the following (in millions): | ||||||||||||||||
Third Quarter | First Nine Months | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Basic and Diluted Income Attributable to Ford Motor Company | ||||||||||||||||
Basic income | $ | 1,272 | $ | 1,631 | $ | 4,116 | $ | 4,067 | ||||||||
Effect of dilutive 2016 Convertible Notes (a) | 10 | 12 | 33 | 33 | ||||||||||||
Effect of dilutive 2036 Convertible Notes (a) | — | — | 1 | 1 | ||||||||||||
Diluted income | $ | 1,282 | $ | 1,643 | $ | 4,150 | $ | 4,101 | ||||||||
Basic and Diluted Shares | ||||||||||||||||
Basic shares (average shares outstanding) | 3,942 | 3,814 | 3,933 | 3,811 | ||||||||||||
Net dilutive options and warrants (b) | 53 | 59 | 52 | 108 | ||||||||||||
Dilutive 2016 Convertible Notes | 98 | 96 | 98 | 95 | ||||||||||||
Dilutive 2036 Convertible Notes | 3 | 3 | 3 | 3 | ||||||||||||
Diluted shares | 4,096 | 3,972 | 4,086 | 4,017 | ||||||||||||
__________ | ||||||||||||||||
(a) | As applicable, includes interest expense, amortization of discount, amortization of fees, and other changes in income or loss that would result from the assumed conversion. | |||||||||||||||
(b) | The net dilutive effect for warrants was approximately 19 million and 60 million dilutive shares for third quarter and first nine months 2012, respectively, representing the net share settlement methodology for the 362 million warrants outstanding as of September 30, 2012. The warrants expired by their terms on January 1, 2013 and no warrants are outstanding. |
Segment_Information_Tables
Segment Information (Tables) | 9 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||||||
Schedule of Sector and Segment Revenue, Eliminations, Assets, and Other Disclosures [Table Text Block] | ' | |||||||||||||||||||||||||||
Key operating data for our business segments for the periods ended or at September 30 were as follows (in millions): | ||||||||||||||||||||||||||||
Automotive Sector | ||||||||||||||||||||||||||||
Operating Segments | Reconciling Items | |||||||||||||||||||||||||||
Ford North | Ford South | Ford | Ford Asia | Other | Special | Total | ||||||||||||||||||||||
America | America | Europe | Pacific | Automotive | Items | |||||||||||||||||||||||
Africa | ||||||||||||||||||||||||||||
Third Quarter 2013 | ||||||||||||||||||||||||||||
Revenues | $ | 21,690 | $ | 2,818 | $ | 6,505 | $ | 2,844 | $ | — | $ | — | $ | 33,857 | ||||||||||||||
Income /(loss) before income taxes | 2,308 | 159 | (228 | ) | 126 | (139 | ) | (498 | ) | 1,728 | ||||||||||||||||||
Total assets at September 30 | 59,037 | 7,108 | 16,094 | 8,932 | — | — | 91,171 | |||||||||||||||||||||
Third Quarter 2012 | ||||||||||||||||||||||||||||
Revenues | $ | 19,438 | $ | 2,314 | $ | 5,828 | $ | 2,667 | $ | — | $ | — | $ | 30,247 | ||||||||||||||
Income /(loss) before income taxes | 2,328 | 9 | (468 | ) | 45 | (139 | ) | 83 | 1,858 | |||||||||||||||||||
Total assets at September 30 | 51,718 | 6,351 | 19,079 | 7,236 | — | — | 84,384 | |||||||||||||||||||||
Automotive Sector | ||||||||||||||||||||||||||||
Operating Segments | Reconciling Items | |||||||||||||||||||||||||||
Ford North | Ford South | Ford | Ford Asia | Other | Special | Total | ||||||||||||||||||||||
America | America | Europe | Pacific | Automotive | Items | |||||||||||||||||||||||
Africa | ||||||||||||||||||||||||||||
First Nine Months 2013 | ||||||||||||||||||||||||||||
Revenues | $ | 66,383 | $ | 8,140 | $ | 20,785 | $ | 8,486 | $ | — | $ | — | $ | 103,794 | ||||||||||||||
Income /(loss) before income taxes | 7,079 | 92 | (1,038 | ) | 309 | (469 | ) | (1,257 | ) | 4,716 | ||||||||||||||||||
First Nine Months 2012 | ||||||||||||||||||||||||||||
Revenues | $ | 57,747 | $ | 7,047 | $ | 20,110 | $ | 7,196 | $ | — | $ | — | $ | 92,100 | ||||||||||||||
Income /(loss) before income taxes | 6,471 | 68 | (1,021 | ) | (116 | ) | (408 | ) | (406 | ) | 4,588 | |||||||||||||||||
NOTE 20. SEGMENT INFORMATION (Continued) | ||||||||||||||||||||||||||||
Financial Services Sector | Total Company | |||||||||||||||||||||||||||
Operating Segments | Reconciling Item | |||||||||||||||||||||||||||
Ford | Other | Elims | Total | Elims (a) | Total | |||||||||||||||||||||||
Credit | Financial | |||||||||||||||||||||||||||
Services | ||||||||||||||||||||||||||||
Third Quarter 2013 | ||||||||||||||||||||||||||||
Revenues | $ | 2,175 | $ | 45 | $ | (101 | ) | $ | 2,119 | $ | — | $ | 35,976 | |||||||||||||||
Income /(loss) before income taxes | 427 | (64 | ) | — | 363 | — | 2,091 | |||||||||||||||||||||
Total assets at September 30 | 113,288 | 5,748 | (6,946 | ) | 112,090 | (2,190 | ) | 201,071 | ||||||||||||||||||||
Third Quarter 2012 | ||||||||||||||||||||||||||||
Revenues | $ | 1,960 | $ | 65 | $ | (100 | ) | $ | 1,925 | $ | — | $ | 32,172 | |||||||||||||||
Income /(loss) before income taxes | 393 | (5 | ) | — | 388 | — | 2,246 | |||||||||||||||||||||
Total assets at September 30 | 101,327 | 8,005 | (7,189 | ) | 102,143 | (1,847 | ) | 184,680 | ||||||||||||||||||||
Financial Services Sector | Total Company | |||||||||||||||||||||||||||
Operating Segments | Reconciling Item | |||||||||||||||||||||||||||
Ford | Other | Elims | Total | Elims (a) | Total | |||||||||||||||||||||||
Credit | Financial | |||||||||||||||||||||||||||
Services | ||||||||||||||||||||||||||||
First Nine Months 2013 | ||||||||||||||||||||||||||||
Revenues | $ | 6,269 | $ | 158 | $ | (340 | ) | $ | 6,087 | $ | — | $ | 109,881 | |||||||||||||||
Income /(loss) before income taxes | 1,388 | (71 | ) | — | 1,317 | — | 6,033 | |||||||||||||||||||||
First Nine Months 2012 | ||||||||||||||||||||||||||||
Revenues | $ | 5,874 | $ | 206 | $ | (352 | ) | $ | 5,728 | $ | — | $ | 97,828 | |||||||||||||||
Income /(loss) before income taxes | 1,283 | 8 | — | 1,291 | — | 5,879 | ||||||||||||||||||||||
__________ | ||||||||||||||||||||||||||||
(a) | Includes intersector transactions occurring in the ordinary course of business and deferred tax netting. |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
Guarantee obligations [Table Text Block] | ' | |||||||
The maximum potential payments under guarantees and the carrying value of recorded liabilities related to guarantees were as follows (in millions): | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Maximum potential payments | $ | 228 | $ | 409 | ||||
Carrying value of recorded liabilities related to guarantees | 6 | 17 | ||||||
Warranty [Table Text Block] | ' | |||||||
Warranty accruals accounted for in Accrued liabilities and deferred revenue for the periods ended September 30 were as follows (in millions): | ||||||||
First Nine Months | ||||||||
2013 | 2012 | |||||||
Beginning balance | $ | 3,656 | $ | 3,915 | ||||
Payments made during the period | (1,763 | ) | (1,675 | ) | ||||
Changes in accrual related to warranties issued during the period | 1,471 | 1,402 | ||||||
Changes in accrual related to pre-existing warranties | 227 | (17 | ) | |||||
Foreign currency translation and other | (54 | ) | 23 | |||||
Ending balance | $ | 3,537 | $ | 3,648 | ||||
Presentation_Reconciliations_b
Presentation - Reconciliations between Consolidated and Sector Deferred Taxes (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Sector balance sheet presentation of deferred income tax assets [Abstract] | ' | ' |
Deferred income tax assets | $13,023 | $15,185 |
Sector balance sheet presentation of deferred income tax liabilities [Abstract] | ' | ' |
Deferred income tax liabilities | 637 | 470 |
Automotive [Member] | ' | ' |
Sector balance sheet presentation of deferred income tax assets [Abstract] | ' | ' |
Automotive sector current deferred income tax assets | 2,943 | 3,488 |
Automotive sector non-current deferred income tax assets | 11,583 | 13,325 |
Sector balance sheet presentation of deferred income tax liabilities [Abstract] | ' | ' |
Automotive sector current deferred income tax liabilities | 207 | 81 |
Automotive sector non-current deferred income tax liabilities | 389 | 514 |
Financial Services [Member] | ' | ' |
Sector balance sheet presentation of deferred income tax liabilities [Abstract] | ' | ' |
Deferred income tax liabilities | 1,712 | 1,687 |
Financial Services [Member] | Other assets [Member] | ' | ' |
Sector balance sheet presentation of deferred income tax assets [Abstract] | ' | ' |
Deferred income tax assets | 168 | 184 |
Intersector [Member] | ' | ' |
Sector balance sheet presentation of deferred income tax assets [Abstract] | ' | ' |
Deferred income tax assets | 14,694 | 16,997 |
Sector balance sheet presentation of deferred income tax liabilities [Abstract] | ' | ' |
Deferred income tax liabilities | 2,308 | 2,282 |
Intersector Eliminations [Member] | ' | ' |
Sector balance sheet presentation of deferred income tax assets [Abstract] | ' | ' |
Deferred income tax assets | -1,671 | -1,812 |
Sector balance sheet presentation of deferred income tax liabilities [Abstract] | ' | ' |
Deferred income tax liabilities | ($1,671) | ($1,812) |
Presentation_Sector_to_Consoli
Presentation - Sector to Consolidated Cash Flow Reconciliation (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Sector to Consolidated Cash Flow Reconciliation [Abstract] | ' | ' |
Net cash provided by/(used in) operating activities | $10,129 | $9,406 |
Net cash provided by/(used in) investing activities | -15,320 | -12,623 |
Net cash provided by/(used in) financing activities | 4,342 | -382 |
Intersector [Member] | ' | ' |
Sector to Consolidated Cash Flow Reconciliation [Abstract] | ' | ' |
Net cash provided by/(used in) operating activities | 11,306 | 7,737 |
Net cash provided by/(used in) investing activities | -16,199 | -9,959 |
Net cash provided by/(used in) financing activities | 4,044 | -1,377 |
Reclassifications [Abstract] | ' | ' |
Wholesale receivables (Reclasifications to operating cash flows) | -1,088 | 1,671 |
Finance receivables (Reclassifications to operating cash flows) | -89 | -2 |
Wholesale receivables (Reclassifications from investing cash flows) | 1,088 | -1,671 |
Finance receivables (Reclassifications from investing cash flows) | 89 | 2 |
Reclassifications [Abstract] | ' | ' |
Maturity of Financial Services sector debt held by Automotive sector (Reclassifications from investing cash flows) | ' | -201 |
Maturity of Financial Services sector debt held by Automotive sector (Reclassifications to financing cash flows) | ' | 201 |
Automotive [Member] | ' | ' |
Sector to Consolidated Cash Flow Reconciliation [Abstract] | ' | ' |
Net cash provided by/(used in) operating activities | 6,378 | 4,113 |
Net cash provided by/(used in) investing activities | -6,633 | -6,086 |
Net cash provided by/(used in) financing activities | -254 | 233 |
Financial Services [Member] | ' | ' |
Sector to Consolidated Cash Flow Reconciliation [Abstract] | ' | ' |
Net cash provided by/(used in) operating activities | 4,928 | 3,624 |
Net cash provided by/(used in) investing activities | -9,566 | -3,873 |
Net cash provided by/(used in) financing activities | 4,298 | -1,610 |
Sector to Consolidated Cash Flow Reconciliation - Footnote Narrative: [Abstract] | ' | ' |
Percent of cash flows from wholesale finance receivables reclassified for consolidated presentation | 100.00% | ' |
Intersector Eliminations [Member] | ' | ' |
Sector to Consolidated Cash Flow Reconciliation [Abstract] | ' | ' |
Net cash provided by/(used in) investing activities | -298 | -794 |
Net cash provided by/(used in) financing activities | $298 | $794 |
Presentation_Venezuelan_Operat
Presentation - Venezuelan Operations (Details) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Feb. 08, 2013 | Feb. 08, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | USD ($) | USD ($) | USD ($) | USD ($) | VENEZUELA | VENEZUELA | VENEZUELA | VENEZUELA |
USD ($) | USD ($) | VEB | VEB | |||||
Foreign Currency Spot Exchange Rate | ' | ' | ' | ' | ' | ' | 6.3 | 4.3 |
Remeasurement Loss | ' | ' | ' | ' | ' | $186 | ' | ' |
Total Investment in Currency Restricted Subsidiary | ' | ' | ' | ' | 802 | ' | ' | ' |
Cash and cash equivalents | 14,752 | 15,659 | 13,539 | 17,148 | 704 | ' | ' | ' |
Amounts of Foreign Currency Payment Pending Approval | ' | ' | ' | ' | 283 | ' | ' | ' |
Amounts Payable to Other Subsidiaries from Currency Restricted Subsidiary | ' | ' | ' | ' | $274 | ' | ' | ' |
Fair_Value_Measurements_Input_
Fair Value Measurements - Input Hierarchy of Items Measured at Fair Value on a Recurring Basis (Details) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2012 | |
Valuation Methodologies | ' | ' |
Number of Days At Which Fair Value of Finance Receivables Is Measured | 'greater than 120 days past due or deemed to be uncollectible | ' |
Number Of Days Used To Determine Short Term Highly Liquid Investments Treatment As Cash Equivalents | '90 days | ' |
Number Of Days Used To Determine Investments Treatment As Marketable Securities, Minimum | '90 days | ' |
Term At Which Fair Value of Finance Receivables is Measured | '120 days | ' |
Securities Purchased under Agreements to Resell [Abstract] | ' | ' |
Securities Purchased under Agreements to Resell, Gross | $202,000,000 | $51,000,000 |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 1,300,000,000 | ' |
Cash and cash equivalents | ' | ' |
Valuation Methodologies | ' | ' |
Number of days for evaluating classification of investments | '90 days or less from the date of acquisition | ' |
Marketable securities [Member] | ' | ' |
Valuation Methodologies | ' | ' |
Number of days for evaluating classification of investments | 'maturity date greater than 90B days at the date of purchase | ' |
Automotive [Member] | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 465,000,000 | 241,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 412,000,000 | 610,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 113,000,000 | 1,222,000,000 |
Marketable securities | ' | ' |
Marketable securities | 20,485,000,000 | 18,178,000,000 |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 465,000,000 | 241,000,000 |
Total assets at fair value | 21,063,000,000 | 19,641,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 412,000,000 | 610,000,000 |
Total liabilities at fair value | 412,000,000 | 610,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | U.S. government [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 16,000,000 | ' |
Marketable securities | ' | ' |
Marketable securities | 4,924,000,000 | 4,493,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | U.S. government-sponsored enterprises [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 5,000,000 | 718,000,000 |
Marketable securities | ' | ' |
Marketable securities | 5,895,000,000 | 5,459,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Non-U.S. government [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 72,000,000 | 139,000,000 |
Marketable securities | ' | ' |
Marketable securities | 911,000,000 | 1,367,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Non-U.S. government agencies [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 20,000,000 | 365,000,000 |
Marketable securities | ' | ' |
Marketable securities | 5,830,000,000 | 4,794,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Corporate Debt [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 2,316,000,000 | 1,871,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage-backed and other asset-backed [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 296,000,000 | 25,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Equities [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 295,000,000 | 142,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Other liquid investments [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 18,000,000 | 27,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Foreign currency exchange contracts [Member] | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 442,000,000 | 218,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 390,000,000 | 486,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Commodity Contract [Member] | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 23,000,000 | 23,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 22,000,000 | 124,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Cash equivalents - financial instruments [Member] | ' | ' |
Input Hierarchy of Items Measured at Fair Value on a Recurring Basis - Footnote Narrative | ' | ' |
Par Value Assets Excluded From Fair Value By Input | 2,500,000,000 | 3,000,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Cash [Member] | ' | ' |
Input Hierarchy of Items Measured at Fair Value on a Recurring Basis - Footnote Narrative | ' | ' |
Par Value Assets Excluded From Fair Value By Input | 3,100,000,000 | 2,000,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 16,000,000 | ' |
Marketable securities | ' | ' |
Marketable securities | 5,219,000,000 | 4,635,000,000 |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | ' | ' |
Total assets at fair value | 5,235,000,000 | 4,635,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | ' | ' |
Total liabilities at fair value | ' | ' |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | U.S. government [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 16,000,000 | 0 |
Marketable securities | ' | ' |
Marketable securities | 4,924,000,000 | 4,493,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | U.S. government-sponsored enterprises [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | 0 |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Non-U.S. government [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | 0 |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Non-U.S. government agencies [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | 0 |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Corporate Debt [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | 0 |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Mortgage-backed and other asset-backed [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Equities [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 295,000,000 | 142,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Other liquid investments [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Foreign currency exchange contracts [Member] | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | ' | 0 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | ' | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Commodity Contract [Member] | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | ' | 0 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | ' | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 97,000,000 | 1,222,000,000 |
Marketable securities | ' | ' |
Marketable securities | 15,266,000,000 | 13,543,000,000 |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 462,000,000 | 237,000,000 |
Total assets at fair value | 15,825,000,000 | 15,002,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 410,000,000 | 598,000,000 |
Total liabilities at fair value | 410,000,000 | 598,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | U.S. government [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | 0 |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | U.S. government-sponsored enterprises [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 5,000,000 | 718,000,000 |
Marketable securities | ' | ' |
Marketable securities | 5,895,000,000 | 5,459,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Non-U.S. government [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 72,000,000 | 139,000,000 |
Marketable securities | ' | ' |
Marketable securities | 911,000,000 | 1,367,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Non-U.S. government agencies [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 20,000,000 | 365,000,000 |
Marketable securities | ' | ' |
Marketable securities | 5,830,000,000 | 4,794,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Corporate Debt [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | 0 |
Marketable securities | ' | ' |
Marketable securities | 2,316,000,000 | 1,871,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Mortgage-backed and other asset-backed [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 296,000,000 | 25,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Equities [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Other liquid investments [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 18,000,000 | 27,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Foreign currency exchange contracts [Member] | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 442,000,000 | 218,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 390,000,000 | 486,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Commodity Contract [Member] | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 20,000,000 | 19,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 20,000,000 | 112,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Marketable securities | ' | ' |
Marketable securities | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 3,000,000 | 4,000,000 |
Total assets at fair value | 3,000,000 | 4,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 2,000,000 | 12,000,000 |
Total liabilities at fair value | 2,000,000 | 12,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | U.S. government [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | 0 |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | U.S. government-sponsored enterprises [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | 0 |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Non-U.S. government [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Non-U.S. government agencies [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | 0 |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Corporate Debt [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Mortgage-backed and other asset-backed [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Equities [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Other liquid investments [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Foreign currency exchange contracts [Member] | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | ' | 0 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | ' | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Commodity Contract [Member] | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 3,000,000 | 4,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 2,000,000 | 12,000,000 |
Financial Services [Member] | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 865,000,000 | 1,300,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 555,000,000 | 381,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 66,000,000 | 324,000,000 |
Marketable securities | ' | ' |
Marketable securities | 2,405,000,000 | 2,106,000,000 |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 865,000,000 | 1,300,000,000 |
Total assets at fair value | 3,336,000,000 | 3,730,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 555,000,000 | 381,000,000 |
Total liabilities at fair value | 555,000,000 | 381,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | U.S. government [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | 200,000,000 |
Marketable securities | ' | ' |
Marketable securities | 611,000,000 | 620,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | U.S. government-sponsored enterprises [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | 20,000,000 |
Marketable securities | ' | ' |
Marketable securities | 457,000,000 | 12,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Non-U.S. government [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 66,000,000 | 103,000,000 |
Marketable securities | ' | ' |
Marketable securities | 59,000,000 | 142,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Non-U.S. government agencies [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 4,000,000 | 95,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Corporate Debt [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | 1,000,000 |
Marketable securities | ' | ' |
Marketable securities | 1,228,000,000 | 1,155,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage-backed and other asset-backed [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 46,000,000 | 67,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Other liquid investments [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | ' | 15,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Interest rate contracts [Member] | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 853,000,000 | 1,291,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 319,000,000 | 256,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Foreign currency exchange contracts [Member] | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 12,000,000 | 9,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 65,000,000 | 8,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Cross-currency interest rate swap contracts [Member] | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | ' | ' |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 171,000,000 | 117,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Cash equivalents - financial instruments [Member] | ' | ' |
Input Hierarchy of Items Measured at Fair Value on a Recurring Basis - Footnote Narrative | ' | ' |
Par Value Assets Excluded From Fair Value By Input | 4,500,000,000 | 6,500,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Cash [Member] | ' | ' |
Input Hierarchy of Items Measured at Fair Value on a Recurring Basis - Footnote Narrative | ' | ' |
Par Value Assets Excluded From Fair Value By Input | 4,500,000,000 | 2,600,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | 200,000,000 |
Marketable securities | ' | ' |
Marketable securities | 611,000,000 | 620,000,000 |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | ' | ' |
Total assets at fair value | 611,000,000 | 820,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | ' | ' |
Total liabilities at fair value | ' | ' |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | U.S. government [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | 200,000,000 |
Marketable securities | ' | ' |
Marketable securities | 611,000,000 | 620,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | U.S. government-sponsored enterprises [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | 0 |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Non-U.S. government [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Non-U.S. government agencies [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Corporate Debt [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | 0 |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Mortgage-backed and other asset-backed [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Other liquid investments [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | ' | ' |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Interest rate contracts [Member] | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | ' | 0 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | ' | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Foreign currency exchange contracts [Member] | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | ' | 0 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | ' | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Cross-currency interest rate swap contracts [Member] | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | ' | 0 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | ' | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 66,000,000 | 124,000,000 |
Marketable securities | ' | ' |
Marketable securities | 1,794,000,000 | 1,486,000,000 |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 865,000,000 | 1,300,000,000 |
Total assets at fair value | 2,725,000,000 | 2,910,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 555,000,000 | 381,000,000 |
Total liabilities at fair value | 555,000,000 | 381,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | U.S. government [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | 0 |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | U.S. government-sponsored enterprises [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | 20,000,000 |
Marketable securities | ' | ' |
Marketable securities | 457,000,000 | 12,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Non-U.S. government [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 66,000,000 | 103,000,000 |
Marketable securities | ' | ' |
Marketable securities | 59,000,000 | 142,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Non-U.S. government agencies [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 4,000,000 | 95,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Corporate Debt [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | 1,000,000 |
Marketable securities | ' | ' |
Marketable securities | 1,228,000,000 | 1,155,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Mortgage-backed and other asset-backed [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 46,000,000 | 67,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Other liquid investments [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | ' | 15,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Interest rate contracts [Member] | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 853,000,000 | 1,291,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 319,000,000 | 256,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Foreign currency exchange contracts [Member] | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 12,000,000 | 9,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 65,000,000 | 8,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Cross-currency interest rate swap contracts [Member] | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | ' | 0 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 171,000,000 | 117,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Marketable securities | ' | ' |
Marketable securities | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | ' | ' |
Total assets at fair value | ' | ' |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | ' | ' |
Total liabilities at fair value | ' | ' |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | U.S. government [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | 0 |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | U.S. government-sponsored enterprises [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | 0 |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Non-U.S. government [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | 0 |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Non-U.S. government agencies [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Corporate Debt [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | ' | 0 |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Mortgage-backed and other asset-backed [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Other liquid investments [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | ' | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Interest rate contracts [Member] | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | ' | 0 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | ' | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Foreign currency exchange contracts [Member] | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | ' | 0 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | ' | ' |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Cross-currency interest rate swap contracts [Member] | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | ' | 0 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | ' | $0 |
Input_Hierarchy_of_Items_Measu
Input Hierarchy of Items Measured at Fair Value on a Nonrecurring Basis (Details) (Financial Services [Member], Fair Value, Measurements, Nonrecurring [Member], Level 3 [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Items measured at fair value [Line Items] | ' | ' |
Financing Receivable Fair Value Disclosure | $59 | $80 |
North America [Member] | ' | ' |
Items measured at fair value [Line Items] | ' | ' |
Financing Receivable Fair Value Disclosure | 36 | 54 |
North America [Member] | Retail [Member] | ' | ' |
Items measured at fair value [Line Items] | ' | ' |
Financing Receivable Fair Value Disclosure | 36 | 52 |
North America [Member] | Dealer loans [Member] | ' | ' |
Items measured at fair value [Line Items] | ' | ' |
Financing Receivable Fair Value Disclosure | ' | 2 |
International [Member] | ' | ' |
Items measured at fair value [Line Items] | ' | ' |
Financing Receivable Fair Value Disclosure | 23 | 26 |
International [Member] | Retail [Member] | ' | ' |
Items measured at fair value [Line Items] | ' | ' |
Financing Receivable Fair Value Disclosure | $23 | $26 |
Fair_Value_Measurements_Nonrec
Fair Value Measurements Nonrecurring Fair Value Changes (Details) (Financial Services [Member], Fair Value, Measurements, Nonrecurring [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Items measured at fair value [Line Items] | ' | ' | ' | ' |
Total Gains / (Losses) | ($8) | ($12) | ($24) | ($25) |
North America [Member] | ' | ' | ' | ' |
Items measured at fair value [Line Items] | ' | ' | ' | ' |
Total Gains / (Losses) | -6 | -6 | -17 | -14 |
International [Member] | ' | ' | ' | ' |
Items measured at fair value [Line Items] | ' | ' | ' | ' |
Total Gains / (Losses) | -2 | -6 | -7 | -11 |
Retail [Member] | North America [Member] | ' | ' | ' | ' |
Items measured at fair value [Line Items] | ' | ' | ' | ' |
Total Gains / (Losses) | -6 | -6 | -17 | -14 |
Retail [Member] | International [Member] | ' | ' | ' | ' |
Items measured at fair value [Line Items] | ' | ' | ' | ' |
Total Gains / (Losses) | -2 | -6 | -7 | -11 |
Dealer loans [Member] | North America [Member] | ' | ' | ' | ' |
Items measured at fair value [Line Items] | ' | ' | ' | ' |
Total Gains / (Losses) | $0 | $0 | $0 | $0 |
Fair_Value_Measurements_Inform
Fair Value Measurements Information about Fair Value Measurements using Significant Unobservable Inputs (Details) (Level 3 [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Financial Services [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value Inputs Quantitative Information [Line Items] | ' | ' |
Financing Receivable Fair Value Disclosure | $59 | $80 |
North America [Member] | Financial Services [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value Inputs Quantitative Information [Line Items] | ' | ' |
Financing Receivable Fair Value Disclosure | 36 | 54 |
North America [Member] | Retail [Member] | Financial Services [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value Inputs Quantitative Information [Line Items] | ' | ' |
Financing Receivable Fair Value Disclosure | 36 | 52 |
North America [Member] | Dealer loans [Member] | Financial Services [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value Inputs Quantitative Information [Line Items] | ' | ' |
Financing Receivable Fair Value Disclosure | ' | 2 |
International [Member] | Financial Services [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value Inputs Quantitative Information [Line Items] | ' | ' |
Financing Receivable Fair Value Disclosure | 23 | 26 |
International [Member] | Retail [Member] | Financial Services [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value Inputs Quantitative Information [Line Items] | ' | ' |
Financing Receivable Fair Value Disclosure | 23 | 26 |
Income Approach Valuation Technique [Member] | Automotive [Member] | Commodity Contract [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Fair Value Inputs Quantitative Information [Line Items] | ' | ' |
Net commodity contracts | 1 | -8 |
Income Approach Valuation Technique [Member] | Minimum [Member] | Automotive [Member] | Commodity Contract [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Fair Value Inputs Quantitative Information [Line Items] | ' | ' |
Net commodity contracts | ' | -7 |
Income Approach Valuation Technique [Member] | Maximum [Member] | Automotive [Member] | Commodity Contract [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Fair Value Inputs Quantitative Information [Line Items] | ' | ' |
Net commodity contracts | 1 | -8 |
Income Approach Valuation Technique [Member] | North America [Member] | Retail [Member] | Financial Services [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value Inputs Quantitative Information [Line Items] | ' | ' |
Financing Receivable Fair Value Disclosure | 36 | 52 |
Income Approach Valuation Technique [Member] | North America [Member] | Retail [Member] | Minimum [Member] | Financial Services [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value Inputs Quantitative Information [Line Items] | ' | ' |
Financing Receivable Fair Value Disclosure | 23 | 38 |
Income Approach Valuation Technique [Member] | North America [Member] | Retail [Member] | Maximum [Member] | Financial Services [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value Inputs Quantitative Information [Line Items] | ' | ' |
Financing Receivable Fair Value Disclosure | 36 | 52 |
Income Approach Valuation Technique [Member] | North America [Member] | Dealer loans [Member] | Financial Services [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value Inputs Quantitative Information [Line Items] | ' | ' |
Financing Receivable Fair Value Disclosure | ' | 2 |
Income Approach Valuation Technique [Member] | North America [Member] | Dealer loans [Member] | Minimum [Member] | Financial Services [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value Inputs Quantitative Information [Line Items] | ' | ' |
Financing Receivable Fair Value Disclosure | ' | 1 |
Income Approach Valuation Technique [Member] | North America [Member] | Dealer loans [Member] | Maximum [Member] | Financial Services [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value Inputs Quantitative Information [Line Items] | ' | ' |
Financing Receivable Fair Value Disclosure | ' | 3 |
Income Approach Valuation Technique [Member] | International [Member] | Retail [Member] | Financial Services [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value Inputs Quantitative Information [Line Items] | ' | ' |
Financing Receivable Fair Value Disclosure | 23 | 26 |
Income Approach Valuation Technique [Member] | International [Member] | Retail [Member] | Minimum [Member] | Financial Services [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value Inputs Quantitative Information [Line Items] | ' | ' |
Financing Receivable Fair Value Disclosure | 23 | 25 |
Income Approach Valuation Technique [Member] | International [Member] | Retail [Member] | Maximum [Member] | Financial Services [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value Inputs Quantitative Information [Line Items] | ' | ' |
Financing Receivable Fair Value Disclosure | $24 | $27 |
Restricted_Cash_Details
Restricted Cash (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Restricted Cash [Abstract] | ' | ' |
Restricted cash | $180 | $344 |
Automotive [Member] | ' | ' |
Restricted Cash [Abstract] | ' | ' |
Restricted cash | 16 | 172 |
Financial Services [Member] | ' | ' |
Restricted Cash [Abstract] | ' | ' |
Restricted cash | $164 | $172 |
Finance_Receivables_Details
Finance Receivables (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Millions, unless otherwise specified | |||
Net Finance Receivables [Abstract] | ' | ' | ' |
Finance receivables, net | $73,418 | $71,510 | ' |
Automotive [Member] | Receivables, less allowances and Other assets [Member] | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' |
Automotive sector | 160 | 519 | ' |
Financial Services [Member] | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' |
Finance receivables, net | 78,021 | 75,770 | 72,598 |
Intersector [Member] | Other Receivables Net [Member] | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' |
Finance receivables, net | ($4,763) | ($4,779) | ' |
Finance_Receivables_Net_Detail
Finance Receivables Net (Details) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 |
Wholesale Loans Percentage of Dealer Financing | 94.00% | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Finance receivables, net | $73,418,000,000 | ' | $71,510,000,000 | ' | ' | ' |
Financial Services [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 78,370,000,000 | ' | 76,159,000,000 | 72,992,000,000 | ' | ' |
Less: Allowance for Credit Losses | -349,000,000 | -355,000,000 | -389,000,000 | -394,000,000 | -384,000,000 | -501,000,000 |
Finance receivables, net | 78,021,000,000 | ' | 75,770,000,000 | 72,598,000,000 | ' | ' |
Net finance receivables subject to fair value | 76,388,000,000 | ' | 73,618,000,000 | ' | ' | ' |
Fair value | 77,927,000,000 | ' | 75,618,000,000 | ' | ' | ' |
Finance Receivables Net Not Subject To Fair Value | 1,600,000,000 | ' | 2,200,000,000 | ' | ' | ' |
Financial Services [Member] | North America [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 60,330,000,000 | ' | 58,358,000,000 | ' | ' | ' |
Less: Allowance for Credit Losses | -275,000,000 | ' | -309,000,000 | ' | ' | ' |
Finance receivables, net | 60,055,000,000 | ' | 58,049,000,000 | ' | ' | ' |
Financial Services [Member] | International [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 18,040,000,000 | ' | 17,801,000,000 | ' | ' | ' |
Less: Allowance for Credit Losses | -74,000,000 | ' | -80,000,000 | ' | ' | ' |
Finance receivables, net | 17,966,000,000 | ' | 17,721,000,000 | ' | ' | ' |
Financial Services [Member] | Consumer [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Finance Receivable Before Unearned Interest Supplements | 50,803,000,000 | ' | 49,964,000,000 | ' | ' | ' |
Less: Unearned interest supplements | -1,482,000,000 | ' | -1,551,000,000 | ' | ' | ' |
Financing Receivable, Gross | 49,321,000,000 | ' | 48,413,000,000 | ' | ' | ' |
Financial Services [Member] | Consumer [Member] | North America [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Finance Receivable Before Unearned Interest Supplements | 40,476,000,000 | ' | 39,504,000,000 | ' | ' | ' |
Less: Unearned interest supplements | -1,231,000,000 | ' | -1,264,000,000 | ' | ' | ' |
Financing Receivable, Gross | 39,245,000,000 | ' | 38,240,000,000 | ' | ' | ' |
Amount of finance receivables that secure certain debt obligations | 21,000,000,000 | ' | 23,000,000,000 | ' | ' | ' |
Financial Services [Member] | Consumer [Member] | International [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Finance Receivable Before Unearned Interest Supplements | 10,327,000,000 | ' | 10,460,000,000 | ' | ' | ' |
Less: Unearned interest supplements | -251,000,000 | ' | -287,000,000 | ' | ' | ' |
Financing Receivable, Gross | 10,076,000,000 | ' | 10,173,000,000 | ' | ' | ' |
Amount of finance receivables that secure certain debt obligations | 4,900,000,000 | ' | 6,600,000,000 | ' | ' | ' |
Financial Services [Member] | Non-consumer [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 29,049,000,000 | ' | 27,746,000,000 | ' | ' | ' |
Financial Services [Member] | Non-consumer [Member] | North America [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 21,085,000,000 | ' | 20,118,000,000 | ' | ' | ' |
Amount of finance receivables that secure certain debt obligations | 17,100,000,000 | ' | 17,100,000,000 | ' | ' | ' |
Financial Services [Member] | Non-consumer [Member] | International [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 7,964,000,000 | ' | 7,628,000,000 | ' | ' | ' |
Amount of finance receivables that secure certain debt obligations | 5,000,000,000 | ' | 4,500,000,000 | ' | ' | ' |
Financial Services [Member] | Non-consumer [Member] | Dealer Financing [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 27,934,000,000 | ' | 26,671,000,000 | ' | ' | ' |
Financial Services [Member] | Non-consumer [Member] | Dealer Financing [Member] | North America [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 20,326,000,000 | ' | 19,429,000,000 | ' | ' | ' |
Financial Services [Member] | Non-consumer [Member] | Dealer Financing [Member] | International [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 7,608,000,000 | ' | 7,242,000,000 | ' | ' | ' |
Financial Services [Member] | Non-consumer [Member] | Other [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 1,115,000,000 | ' | 1,075,000,000 | ' | ' | ' |
Financial Services [Member] | Non-consumer [Member] | Other [Member] | North America [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 759,000,000 | ' | 689,000,000 | ' | ' | ' |
Financial Services [Member] | Non-consumer [Member] | Other [Member] | International [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 356,000,000 | ' | 386,000,000 | ' | ' | ' |
Other Assets on Statement of Financial Position [Member] | Financial Services [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Uncollected Interest Receivable Excluded From Finance Receivable | $176,000,000 | ' | $183,000,000 | ' | ' | ' |
Finance_Receivables_Aging_Deta
Finance Receivables Aging (Details) (Financial Services [Member], USD $) | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
Financing Receivables [Line Items] | ' | ' | ' |
Number Of Days After Which Finance Receivable Is Considered Past Due | 'any payment, including principal and interest, that has not been collected and is at least 31 days past the contractual due date | ' | ' |
Financing Receivable, Gross | $78,370 | $76,159 | $72,992 |
Consumer [Member] | ' | ' | ' |
Financing Receivables [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 15 | 13 | ' |
Financing Receivable Recorded Investment 31 To 60 Days Past Due | 669 | 833 | ' |
Financing Receivable Recorded Investment 61 To 90 Days Past Due | 93 | 115 | ' |
Financing Receivable Recorded Investment 91 To 120 Days Past Due | 29 | 30 | ' |
Financing Receivable Recorded Investment Greater Than 120 Days Past Due | 63 | 81 | ' |
Financing Receivable, Recorded Investment, Past Due | 854 | 1,059 | ' |
Financing Receivable, Recorded Investment, Current | 48,467 | 47,354 | ' |
Financing Receivable, Gross | 49,321 | 48,413 | ' |
Non-consumer [Member] | ' | ' | ' |
Financing Receivables [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 5 | 5 | ' |
Financing Receivable, Recorded Investment, Past Due | 67 | 40 | ' |
Financing Receivable, Recorded Investment, Current | 28,982 | 27,706 | ' |
Financing Receivable, Gross | 29,049 | 27,746 | ' |
North America [Member] | ' | ' | ' |
Financing Receivables [Line Items] | ' | ' | ' |
Financing Receivable, Gross | 60,330 | 58,358 | ' |
North America [Member] | Consumer [Member] | ' | ' | ' |
Financing Receivables [Line Items] | ' | ' | ' |
Financing Receivable Recorded Investment 31 To 60 Days Past Due | 631 | 783 | ' |
Financing Receivable Recorded Investment 61 To 90 Days Past Due | 76 | 97 | ' |
Financing Receivable Recorded Investment 91 To 120 Days Past Due | 20 | 21 | ' |
Financing Receivable Recorded Investment Greater Than 120 Days Past Due | 36 | 52 | ' |
Financing Receivable, Recorded Investment, Past Due | 763 | 953 | ' |
Financing Receivable, Recorded Investment, Current | 38,482 | 37,287 | ' |
Financing Receivable, Gross | 39,245 | 38,240 | ' |
North America [Member] | Non-consumer [Member] | ' | ' | ' |
Financing Receivables [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due | 28 | 29 | ' |
Financing Receivable, Recorded Investment, Current | 21,057 | 20,089 | ' |
Financing Receivable, Gross | 21,085 | 20,118 | ' |
International [Member] | ' | ' | ' |
Financing Receivables [Line Items] | ' | ' | ' |
Financing Receivable, Gross | 18,040 | 17,801 | ' |
International [Member] | Consumer [Member] | ' | ' | ' |
Financing Receivables [Line Items] | ' | ' | ' |
Financing Receivable Recorded Investment 31 To 60 Days Past Due | 38 | 50 | ' |
Financing Receivable Recorded Investment 61 To 90 Days Past Due | 17 | 18 | ' |
Financing Receivable Recorded Investment 91 To 120 Days Past Due | 9 | 9 | ' |
Financing Receivable Recorded Investment Greater Than 120 Days Past Due | 27 | 29 | ' |
Financing Receivable, Recorded Investment, Past Due | 91 | 106 | ' |
Financing Receivable, Recorded Investment, Current | 9,985 | 10,067 | ' |
Financing Receivable, Gross | 10,076 | 10,173 | ' |
International [Member] | Non-consumer [Member] | ' | ' | ' |
Financing Receivables [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due | 39 | 11 | ' |
Financing Receivable, Recorded Investment, Current | 7,925 | 7,617 | ' |
Financing Receivable, Gross | $7,964 | $7,628 | ' |
Minimum [Member] | ' | ' | ' |
Financing Receivables [Line Items] | ' | ' | ' |
Number Of Days At Which Finance Receivables Are In Process Of Collection | '90 days | ' | ' |
Finance_Receivables_Credit_Qua
Finance Receivables - Credit Quality (Details) (Financial Services [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | Non-consumer [Member] | Non-consumer [Member] | Consumer [Member] | Consumer [Member] | Consumer [Member] | Consumer [Member] | Consumer [Member] | Consumer [Member] | North America [Member] | North America [Member] | North America [Member] | North America [Member] | North America [Member] | North America [Member] | International [Member] | International [Member] | International [Member] | International [Member] | International [Member] | International [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | Dealer Financing [Member] | |||
Pass | Special Mention | Special Mention | Substandard | Non-consumer [Member] | Non-consumer [Member] | Consumer [Member] | Consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Consumer [Member] | Consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | North America [Member] | North America [Member] | North America [Member] | North America [Member] | North America [Member] | North America [Member] | North America [Member] | North America [Member] | North America [Member] | North America [Member] | International [Member] | International [Member] | International [Member] | International [Member] | International [Member] | International [Member] | International [Member] | International [Member] | International [Member] | International [Member] | ||||||||||||
Minimum [Member] | Maximum [Member] | Group I | Group I | Group II | Group II | Group III | Group III | Group IV | Group IV | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | ||||||||||||||||||||||||
Group I | Group I | Group II | Group II | Group III | Group III | Group IV | Group IV | Group I | Group I | Group II | Group II | Group III | Group III | Group IV | Group IV | ||||||||||||||||||||||||||||||||||||||
Credit quality ratings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term, in days, for credit quality rating | ' | ' | ' | ' | ' | ' | ' | 'current to 60 days past due | ' | ' | 'greater than 120 days past due | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finance Receivables Credit Quality Ratings Term Range | ' | ' | ' | ' | ' | ' | ' | ' | '61 days | '120 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finance Receivable Credit Quality [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable By Credit Quality Indicator | $78,370 | $76,159 | $72,992 | $29,049 | $27,746 | $49,321 | $48,413 | ' | ' | ' | ' | $60,330 | $58,358 | $21,085 | $20,118 | $39,245 | $38,240 | $18,040 | $17,801 | $7,964 | $7,628 | $10,076 | $10,173 | $27,934 | $26,671 | $21,919 | $21,077 | $5,029 | $4,013 | $952 | $1,556 | $34 | $25 | $20,326 | $19,429 | $17,006 | $16,526 | $2,970 | $2,608 | $349 | $277 | $1 | $18 | $7,608 | $7,242 | $4,913 | $4,551 | $2,059 | $1,405 | $603 | $1,279 | $33 | $7 |
Finance_Receivables_Impaired_a
Finance Receivables - Impaired and Non-Accrual Receivables and Troubled Debt Restructurings (Details) (Financial Services [Member], USD $) | 9 Months Ended | 9 Months Ended | |||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 |
Consumer [Member] | Consumer [Member] | Consumer [Member] | Non-consumer [Member] | Non-consumer [Member] | Minimum [Member] | ||
Finance Receivables [Member] | |||||||
Consumer [Member] | |||||||
Financing Receivable Impaired [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Number of Days Past Due After Which Consumer Receivables are Considered Impaired | 'greater than 120 days past due | ' | ' | ' | ' | ' | ' |
Recorded investment of receivables that were impaired | ' | $424 | $422 | ' | $58 | $47 | ' |
Percentage of recorded investment of receivables that were impaired | ' | 0.90% | 0.90% | ' | 0.20% | 0.20% | ' |
Finance Receivables Non Accrual [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Number Of Days At Which Finance Receivables Are Put In Non Accrual Status | ' | ' | ' | ' | ' | ' | '120 days |
Financing Receivable, Recorded Investment, Nonaccrual Status | ' | 249 | 304 | ' | 34 | 29 | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status, Percentage of Receivable | ' | 0.50% | 0.60% | ' | 0.10% | 0.10% | ' |
Troubled Debt Restructurings [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | ' | 171 | ' | 185 | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment, Percentage of Receivable | ' | 0.30% | ' | 0.40% | ' | ' | ' |
Financing Receivables, Modifications, Contracts Subsequently Defaulted, Default Rate | ' | 6.00% | ' | 5.70% | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses Related to Consumer Troubled Debt Restructurings | ' | $22 | ' | $18 | ' | ' | ' |
Allowance_for_Credit_Losses_De
Allowance for Credit Losses (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Analysis of ending balance of finance receivables and net investment in operating leases | ' | ' | ' | ' | ' |
Finance receivables, net | $73,418 | ' | $73,418 | ' | $71,510 |
Net Investment In Operating Leases | 20,959 | ' | 20,959 | ' | 16,451 |
Financial Services [Member] | ' | ' | ' | ' | ' |
Allowance for credit losses | ' | ' | ' | ' | ' |
Beginning balance | 355 | 384 | 389 | 501 | ' |
Beginning balance (Net Investment In Operating Leases) | 23 | 26 | 23 | 40 | ' |
Beginning balance (Total) | 378 | 410 | 412 | 541 | ' |
Charge-offs | -74 | -79 | -225 | -238 | ' |
Charge-offs (Net Investment In Operating Leases) | -17 | -11 | -47 | -35 | ' |
Charge-offs (Total Allowance) | -91 | -90 | -272 | -273 | ' |
Recoveries | 33 | 44 | 113 | 145 | ' |
Recoveries (Net Investment In Operating Leases) | 11 | 11 | 35 | 39 | ' |
Recoveries (Total Allowance) | 44 | 55 | 148 | 184 | ' |
Provision for credit losses | 31 | 43 | 73 | -15 | ' |
Provision for Credit Losses (Net Investment In Operating Leases) | 1 | -1 | 8 | -18 | ' |
Provision for credit losses (Total Allowance) | 32 | 42 | 81 | -33 | ' |
Other | 4 | 2 | -1 | 1 | ' |
Other (Net Investment In Operating Leases) | 1 | 1 | ' | ' | ' |
Other (Total Allowance) | 5 | 3 | -1 | 1 | ' |
Ending balance | 349 | 394 | 349 | 394 | ' |
Ending balance (Net Investment In Operating Leases) | 19 | 26 | 19 | 26 | ' |
Ending balance (Total) | 368 | 420 | 368 | 420 | ' |
Analysis of ending balance of allowance for credit losses | ' | ' | ' | ' | ' |
Collective impairment allowance | 325 | 374 | 325 | 374 | ' |
Collective impairment allowance (Net Investment in Operating Leases) | 19 | 26 | 19 | 26 | ' |
Collective impairment allowance (Total Allowance) | 344 | 400 | 344 | 400 | ' |
Specific impairment allowance | 24 | 20 | 24 | 20 | ' |
Specific impairment allowance (Net Investment in Operating Leases) | ' | ' | ' | ' | ' |
Specific impairment allowance (Total Allowance) | 24 | 20 | 24 | 20 | ' |
Ending balance | 349 | 394 | 349 | 394 | ' |
Ending balance (Net Investment In Operating Leases) | 19 | 26 | 19 | 26 | ' |
Ending balance (Total) | 368 | 420 | 368 | 420 | ' |
Analysis of ending balance of finance receivables and net investment in operating leases | ' | ' | ' | ' | ' |
Collectively evaluated for impairment | 77,888 | 72,520 | 77,888 | 72,520 | ' |
Collectively evaluated for impairment (Net Investment in Operating Leases) | 19,144 | 14,315 | 19,144 | 14,315 | ' |
Specifically evaluated for impairment | 482 | 472 | 482 | 472 | ' |
Specifically evaluated for impairment (Net Investment in Operating Leases) | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 78,370 | 72,992 | 78,370 | 72,992 | 76,159 |
Recorded investment (Net Investment in Operating Leases) | 19,144 | 14,315 | 19,144 | 14,315 | ' |
Finance receivables, net | 78,021 | 72,598 | 78,021 | 72,598 | 75,770 |
Net Investment In Operating Leases | 19,125 | 14,289 | 19,125 | 14,289 | 15,036 |
Financial Services [Member] | Consumer [Member] | ' | ' | ' | ' | ' |
Allowance for credit losses | ' | ' | ' | ' | ' |
Beginning balance | 324 | 365 | 360 | 457 | ' |
Charge-offs | -71 | -78 | -212 | -230 | ' |
Recoveries | 32 | 41 | 109 | 135 | ' |
Provision for credit losses | 32 | 45 | 65 | 13 | ' |
Other | 3 | 3 | -2 | 1 | ' |
Ending balance | 320 | 376 | 320 | 376 | ' |
Analysis of ending balance of allowance for credit losses | ' | ' | ' | ' | ' |
Collective impairment allowance | 298 | 358 | 298 | 358 | ' |
Specific impairment allowance | 22 | 18 | 22 | 18 | ' |
Ending balance | 320 | 376 | 320 | 376 | ' |
Analysis of ending balance of finance receivables and net investment in operating leases | ' | ' | ' | ' | ' |
Collectively evaluated for impairment | 48,897 | 47,796 | 48,897 | 47,796 | ' |
Specifically evaluated for impairment | 424 | 411 | 424 | 411 | ' |
Financing Receivable, Gross | 49,321 | 48,207 | 49,321 | 48,207 | ' |
Finance receivables, net | 49,001 | 47,831 | 49,001 | 47,831 | ' |
Financial Services [Member] | Non-consumer [Member] | ' | ' | ' | ' | ' |
Allowance for credit losses | ' | ' | ' | ' | ' |
Beginning balance | 31 | 19 | 29 | 44 | ' |
Charge-offs | -3 | -1 | -13 | -8 | ' |
Recoveries | 1 | 3 | 4 | 10 | ' |
Provision for credit losses | -1 | -2 | 8 | -28 | ' |
Other | 1 | -1 | 1 | ' | ' |
Ending balance | 29 | 18 | 29 | 18 | ' |
Analysis of ending balance of allowance for credit losses | ' | ' | ' | ' | ' |
Collective impairment allowance | 27 | 16 | 27 | 16 | ' |
Specific impairment allowance | 2 | 2 | 2 | 2 | ' |
Ending balance | 29 | 18 | 29 | 18 | ' |
Analysis of ending balance of finance receivables and net investment in operating leases | ' | ' | ' | ' | ' |
Collectively evaluated for impairment | 28,991 | 24,724 | 28,991 | 24,724 | ' |
Specifically evaluated for impairment | 58 | 61 | 58 | 61 | ' |
Financing Receivable, Gross | 29,049 | 24,785 | 29,049 | 24,785 | ' |
Finance receivables, net | $29,020 | $24,767 | $29,020 | $24,767 | ' |
Inventories_Details
Inventories (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Inventories footnote [Abstract] | ' | ' |
Percentage Of LIFO Inventory To Total Inventory | 24.00% | 18.00% |
Inventory, Net [Abstract] | ' | ' |
Raw materials, work-in-process and supplies | $4,191 | $3,697 |
Finished products | 5,591 | 4,614 |
Total inventories under FIFO | 9,782 | 8,311 |
Less: LIFO adjustment | -983 | -949 |
Total inventories | 8,799 | 7,362 |
Automotive [Member] | ' | ' |
Inventory, Net [Abstract] | ' | ' |
Total inventories | $8,799 | $7,362 |
Variable_Interest_Entities_VIE
Variable Interest Entities - VIEs of Which We Are Not the Primary Beneficiary (Details) (USD $) | 9 Months Ended | |||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
Getrag Ford Transmissions GmbH [Member] | Automotive [Member] | Automotive [Member] | Automotive [Member] | Financial Services [Member] | Financial Services [Member] | Investments [Member] | Investments [Member] | Supplier Arrangements [Member] | Supplier Arrangements [Member] | |
Variable Interest Entity, Primary Beneficiary [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Automotive [Member] | Automotive [Member] | Automotive [Member] | Automotive [Member] | ||
Getrag Deutsche Venture GmbH and Co KG [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||||
Percent ownership of VIE | 50.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Total maximum exposure | ' | ' | $269 | $247 | $69 | $71 | $262 | $242 | $7 | $5 |
Total change in maximum exposure | ' | ' | $22 | ' | ' | ' | $20 | ' | $2 | ' |
Variable_Interest_Entities_VIE1
Variable Interest Entities - VIEs of Which we are the Primary Beneficiary (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | |
Assets and liabilities [Abstract] | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | $14,752,000,000 | $13,539,000,000 | $14,752,000,000 | $13,539,000,000 | $15,659,000,000 | $17,148,000,000 |
Debt | 110,622,000,000 | ' | 110,622,000,000 | ' | 105,058,000,000 | ' |
Derivative Instruments related exposure [Abstract] | ' | ' | ' | ' | ' | ' |
Fair Value of Assets | 1,300,000,000 | ' | 1,300,000,000 | ' | ' | ' |
Variable Interest Entity, Primary Beneficiary [Member] | ' | ' | ' | ' | ' | ' |
Assets and liabilities [Abstract] | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 2,705,000,000 | ' | 2,705,000,000 | ' | 2,911,000,000 | ' |
Debt | 38,537,000,000 | ' | 38,537,000,000 | ' | 40,245,000,000 | ' |
Financial Services [Member] | ' | ' | ' | ' | ' | ' |
Assets and liabilities [Abstract] | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 9,092,000,000 | 7,319,000,000 | 9,092,000,000 | 7,319,000,000 | 9,412,000,000 | 9,183,000,000 |
Debt | 94,798,000,000 | ' | 94,798,000,000 | ' | 90,802,000,000 | ' |
Derivative Instruments related exposure [Abstract] | ' | ' | ' | ' | ' | ' |
Fair Value of Assets | 865,000,000 | ' | 865,000,000 | ' | 1,300,000,000 | ' |
Fair Value of Liabilities | 555,000,000 | ' | 555,000,000 | ' | 381,000,000 | ' |
Financial Performance [Abstract] | ' | ' | ' | ' | ' | ' |
Interest expense | 762,000,000 | 764,000,000 | 2,173,000,000 | 2,388,000,000 | ' | ' |
Financial Services [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ' | ' | ' | ' | ' | ' |
Variable Interest Entity [Line Items] | ' | ' | ' | ' | ' | ' |
Cash contribution for collateral to support Wholesale Securitization Program | 0 | ' | 0 | ' | 0 | ' |
Assets and liabilities [Abstract] | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 2,700,000,000 | ' | 2,700,000,000 | ' | 2,900,000,000 | ' |
Finance Receivables Net And Net Investment In Operating Leases | 50,100,000,000 | ' | 50,100,000,000 | ' | 53,800,000,000 | ' |
Debt | 38,500,000,000 | ' | 38,500,000,000 | ' | 40,200,000,000 | ' |
Footnote information [Abstract] | ' | ' | ' | ' | ' | ' |
Variable Interest Entities Liabilities Excluded | ' | ' | ' | ' | 145,000,000 | ' |
Financial Services [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Finance Receivables [Member] | ' | ' | ' | ' | ' | ' |
Assets and liabilities [Abstract] | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 2,300,000,000 | ' | 2,300,000,000 | ' | 2,500,000,000 | ' |
Finance Receivables Net And Net Investment In Operating Leases | 43,100,000,000 | ' | 43,100,000,000 | ' | 47,500,000,000 | ' |
Debt | 33,900,000,000 | ' | 33,900,000,000 | ' | 36,000,000,000 | ' |
Financial Services [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Retail [Member] | ' | ' | ' | ' | ' | ' |
Assets and liabilities [Abstract] | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 1,900,000,000 | ' | 1,900,000,000 | ' | 2,200,000,000 | ' |
Finance Receivables Net And Net Investment In Operating Leases | 22,000,000,000 | ' | 22,000,000,000 | ' | 27,000,000,000 | ' |
Debt | 19,600,000,000 | ' | 19,600,000,000 | ' | 23,200,000,000 | ' |
Financial Services [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Wholesale [Member] | ' | ' | ' | ' | ' | ' |
Assets and liabilities [Abstract] | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 400,000,000 | ' | 400,000,000 | ' | 300,000,000 | ' |
Finance Receivables Net And Net Investment In Operating Leases | 21,100,000,000 | ' | 21,100,000,000 | ' | 20,500,000,000 | ' |
Debt | 14,300,000,000 | ' | 14,300,000,000 | ' | 12,800,000,000 | ' |
Financial Services [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Net Investment in Operating Leases [Member] | ' | ' | ' | ' | ' | ' |
Assets and liabilities [Abstract] | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 400,000,000 | ' | 400,000,000 | ' | 400,000,000 | ' |
Finance Receivables Net And Net Investment In Operating Leases | 7,000,000,000 | ' | 7,000,000,000 | ' | 6,300,000,000 | ' |
Debt | 4,600,000,000 | ' | 4,600,000,000 | ' | 4,200,000,000 | ' |
Minimum [Member] | Financial Services [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ' | ' | ' | ' | ' | ' |
Variable Interest Entity [Line Items] | ' | ' | ' | ' | ' | ' |
Cash contribution for collateral to support Wholesale Securitization Program | 0 | ' | 0 | ' | ' | ' |
Maximum [Member] | Financial Services [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ' | ' | ' | ' | ' | ' |
Variable Interest Entity [Line Items] | ' | ' | ' | ' | ' | ' |
Cash contribution for collateral to support Wholesale Securitization Program | 84,000,000 | ' | 84,000,000 | ' | ' | ' |
Securitization Transactions [Member] | Financial Services [Member] | ' | ' | ' | ' | ' | ' |
Derivative Instruments related exposure [Abstract] | ' | ' | ' | ' | ' | ' |
Fair Value of Assets | 34,000,000 | ' | 34,000,000 | ' | 78,000,000 | ' |
Fair Value of Liabilities | 104,000,000 | ' | 104,000,000 | ' | 197,000,000 | ' |
Financial Performance [Abstract] | ' | ' | ' | ' | ' | ' |
Derivative expense/(income) | 71,000,000 | 66,000,000 | -12,000,000 | 202,000,000 | ' | ' |
Securitization Transactions [Member] | Financial Services [Member] | Related to the VIEs [Member] | ' | ' | ' | ' | ' | ' |
Derivative Instruments related exposure [Abstract] | ' | ' | ' | ' | ' | ' |
Fair Value of Assets | 30,000,000 | ' | 30,000,000 | ' | 74,000,000 | ' |
Fair Value of Liabilities | 28,000,000 | ' | 28,000,000 | ' | 63,000,000 | ' |
Financial Performance [Abstract] | ' | ' | ' | ' | ' | ' |
Derivative expense/(income) | -2,000,000 | 8,000,000 | 8,000,000 | -7,000,000 | ' | ' |
Securitization Transactions [Member] | Financial Services [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ' | ' | ' | ' | ' | ' |
Financial Performance [Abstract] | ' | ' | ' | ' | ' | ' |
Interest expense | 138,000,000 | 172,000,000 | 434,000,000 | 600,000,000 | ' | ' |
Securitization Transactions [Member] | Financial Services [Member] | Variable Interest Entity, Primary Beneficiary [Member] | VIEs [Member] | ' | ' | ' | ' | ' | ' |
Derivative Instruments related exposure [Abstract] | ' | ' | ' | ' | ' | ' |
Fair Value of Assets | 4,000,000 | ' | 4,000,000 | ' | 4,000,000 | ' |
Fair Value of Liabilities | 76,000,000 | ' | 76,000,000 | ' | 134,000,000 | ' |
Financial Performance [Abstract] | ' | ' | ' | ' | ' | ' |
Derivative expense/(income) | $73,000,000 | $58,000,000 | ($20,000,000) | $209,000,000 | ' | ' |
Accrued_Liabilities_and_Deferr2
Accrued Liabilities and Deferred Revenue (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Accrued liabilities and deferred revenue | $47,333 | $49,407 |
Automotive [Member] | ' | ' |
Accrued liabilities and deferred revenue | 43,299 | 45,907 |
Liabilities, Current [Abstract] | ' | ' |
Dealer and dealers' customer allowances and claims | 7,377 | 6,779 |
Deferred revenue | 3,232 | 2,796 |
Employee benefit plans | 1,660 | 1,504 |
Accrued interest | 239 | 277 |
Other postretirement employee benefits | 406 | 409 |
Pension | 399 | 387 |
Other | 3,106 | 3,206 |
Total Automotive accrued liabilities and deferred revenue | 16,419 | 15,358 |
Liabilities, Noncurrent [Abstract] | ' | ' |
Pension | 13,792 | 18,400 |
OPEB | 6,296 | 6,398 |
Dealer and dealers' customer allowances and claims | 2,007 | 2,036 |
Deferred revenue | 2,503 | 2,044 |
Employee benefit plans | 732 | 767 |
Other | 1,550 | 904 |
Total Automotive other liabilities | 26,880 | 30,549 |
Financial Services [Member] | ' | ' |
Accrued liabilities and deferred revenue | $4,034 | $3,500 |
Retirement_Benefits_Expense_De
Retirement Benefits - Expense (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
U.S. Plans | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost | $140 | $130 | $443 | $390 |
Interest cost | 479 | 552 | 1,434 | 1,656 |
Expected return on assets | -685 | -718 | -2,133 | -2,154 |
Defined Benefit Plan Amortization Categories [Abstract] | ' | ' | ' | ' |
Prior service costs/(credits) | 44 | 55 | 131 | 165 |
(Gains)/Losses | 136 | 106 | 526 | 318 |
Separation programs/other | 1 | -1 | 5 | 4 |
(Gains)/Losses from curtailment and settlements | 145 | ' | 439 | ' |
Net expense/(income) | 260 | 124 | 845 | 379 |
Non-U.S. Plans | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost | 119 | 92 | 360 | 278 |
Interest cost | 280 | 293 | 847 | 889 |
Expected return on assets | -339 | -332 | -1,029 | -1,001 |
Defined Benefit Plan Amortization Categories [Abstract] | ' | ' | ' | ' |
Prior service costs/(credits) | 16 | 18 | 49 | 54 |
(Gains)/Losses | 170 | 102 | 513 | 308 |
Separation programs/other | 69 | 9 | 220 | 54 |
(Gains)/Losses from curtailment and settlements | 0 | ' | 0 | ' |
Net expense/(income) | 315 | 182 | 960 | 582 |
Worldwide OPEB [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost | 16 | 17 | 48 | 51 |
Interest cost | 63 | 72 | 192 | 216 |
Expected return on assets | ' | ' | ' | ' |
Defined Benefit Plan Amortization Categories [Abstract] | ' | ' | ' | ' |
Prior service costs/(credits) | -71 | -137 | -213 | -409 |
(Gains)/Losses | 39 | 33 | 119 | 97 |
Separation programs/other | 2 | ' | 2 | 1 |
(Gains)/Losses from curtailment and settlements | -2 | ' | -2 | -10 |
Net expense/(income) | $47 | ($15) | $146 | ($54) |
Retirement_Benefits_Retirement
Retirement Benefits Retirement Benefits - Status (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
bps | bps | |||||
U.S. Plans | ' | ' | ' | ' | ' | ' |
U.S. Salaried Retiree Lump-Sum Program [Abstract] | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan, Settlements, Plan Assets | $745,000,000 | $1,500,000,000 | ' | ' | ' | $1,200,000,000 |
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Accounting Policy Change | ' | ' | ' | ' | ' | 250,000,000 |
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Change In Discount Rate | 90 | ' | ' | 90 | ' | ' |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.18% | ' | ' | 4.18% | ' | ' |
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long-Term Return On Assets Rate | 7.16% | ' | ' | 7.16% | ' | ' |
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements | 145,000,000 | ' | ' | 439,000,000 | ' | ' |
Europe Business Restructuring - Pension Impacts [Abstract] | ' | ' | ' | ' | ' | ' |
Pension-related costs | 1,000,000 | ' | -1,000,000 | 5,000,000 | 4,000,000 | ' |
Plan Contributions [Abstract] | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan, Estimated Future Employer Contributions in Current Fiscal Year | 3,400,000,000 | ' | ' | 3,400,000,000 | ' | ' |
Pension and Other Postretirement Benefit Contributions | ' | ' | ' | 2,700,000,000 | ' | ' |
Defined Benefit Plan, Estimated Future Employer Contributions in Current Remaining Fiscal Year | 700,000,000 | ' | ' | 700,000,000 | ' | ' |
Worldwide OPEB [Member] | ' | ' | ' | ' | ' | ' |
Europe Business Restructuring - Pension Impacts [Abstract] | ' | ' | ' | ' | ' | ' |
Pension-related costs | 2,000,000 | ' | ' | 2,000,000 | 1,000,000 | ' |
Plan Contributions [Abstract] | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan, Estimated Future Employer Contributions in Current Fiscal Year | 5,000,000,000 | ' | ' | 5,000,000,000 | ' | ' |
Pension and Other Postretirement Benefit Contributions | ' | ' | ' | 3,900,000,000 | ' | ' |
Pension and Other Postretirement Benefit Contributions Unfunded Plans | ' | ' | ' | 300,000,000 | ' | ' |
Defined Benefit Plan, Estimated Future Employer Contributions in Current Remaining Fiscal Year | 1,100,000,000 | ' | ' | 1,100,000,000 | ' | ' |
Pension And Other Postretirement Expected Benefit Contributions Unfunded Plans | 100,000,000 | ' | ' | 100,000,000 | ' | ' |
Pension and Other Postretirement Benefit Contributions and Expected Future Employer Contributions To Funded and Unfunded Plans | 5,400,000,000 | ' | ' | 5,400,000,000 | ' | ' |
Facility Closing [Member] | Ford Europe [Member] | ' | ' | ' | ' | ' | ' |
Europe Business Restructuring - Pension Impacts [Abstract] | ' | ' | ' | ' | ' | ' |
Pension-related costs | 48,000,000 | ' | ' | 180,000,000 | ' | ' |
Restructuring And Related Cost, Total Expected Cost, Pension | $200,000,000 | ' | ' | ' | ' | ' |
Debt_And_Commitments_Debt_Outs
Debt And Commitments - Debt Outstanding (Details) (USD $) | 3 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2012 | |
Debt Outstanding [Abstract] | ' | ' |
Total Debt | $110,622,000,000 | $105,058,000,000 |
Automotive [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Short-term Debt | 1,313,000,000 | 1,386,000,000 |
Debt payable after one year | 14,511,000,000 | 12,870,000,000 |
Total Debt | 15,824,000,000 | 14,256,000,000 |
Fair value of debt | 17,542,000,000 | 14,867,000,000 |
Debt Instruments [Abstract] | ' | ' |
Short-term debt carried at cost which approximates fair value | 374,000,000 | 484,000,000 |
Automotive [Member] | Other debt [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Debt payable within one year | 142,000,000 | 311,000,000 |
Unamortized (discount)/premium | 4,000,000 | -7,000,000 |
Debt payable after one year | 1,231,000,000 | 1,048,000,000 |
Automotive [Member] | Public Unsecured Debt Securities [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Debt Instrument, Face Amount | 6,797,000,000 | 5,420,000,000 |
Unamortized (discount)/premium | -149,000,000 | -100,000,000 |
Debt Instruments [Abstract] | ' | ' |
Debt Instrument, Increase (Decrease) for Period, Net | 1,400,000,000 | ' |
Automotive [Member] | Convertible Notes [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Debt Instrument, Face Amount | 908,000,000 | 908,000,000 |
Unamortized (discount)/premium | -119,000,000 | -142,000,000 |
Automotive [Member] | DOE ATVM Incentive Program | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Debt payable within one year | 591,000,000 | 591,000,000 |
Debt payable after one year | 4,571,000,000 | 5,014,000,000 |
Automotive [Member] | EIB Credit Facilities [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Debt payable after one year | 1,268,000,000 | 729,000,000 |
Automotive [Member] | Non-Affiliates [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Short-term Debt | 580,000,000 | 484,000,000 |
Financial Services [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Short-term Debt | 14,646,000,000 | 17,745,000,000 |
Unamortized (discount)/premium | -107,000,000 | -134,000,000 |
Fair value adjustments | 259,000,000 | 791,000,000 |
Long Term Debt And Capital Lease Obligations Current And Non Current | 80,152,000,000 | 73,057,000,000 |
Total Debt | 94,798,000,000 | 90,802,000,000 |
Fair value of debt | 98,018,000,000 | 94,578,000,000 |
Debt Instruments [Abstract] | ' | ' |
Short-term debt carried at cost which approximates fair value | 9,300,000,000 | 8,400,000,000 |
Financial Services [Member] | Other debt [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Short-term Debt | 1,871,000,000 | 1,655,000,000 |
Financial Services [Member] | Asset backed commercial paper [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Short-term Debt | 4,036,000,000 | 5,752,000,000 |
Financial Services [Member] | Other asset backed short term debt [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Short-term Debt | 1,320,000,000 | 3,762,000,000 |
Financial Services [Member] | Floating rate demand notes [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Short-term Debt | 5,352,000,000 | 4,890,000,000 |
Financial Services [Member] | Commercial Paper [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Short-term Debt | 2,067,000,000 | 1,686,000,000 |
Financial Services [Member] | Unsecured Debt [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Debt payable within one year | 5,743,000,000 | 5,830,000,000 |
Debt payable after one year | 36,697,000,000 | 32,503,000,000 |
Financial Services [Member] | Asset-backed debt [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Debt payable within one year | 16,729,000,000 | 13,801,000,000 |
Debt payable after one year | 20,831,000,000 | 20,266,000,000 |
Notes due January 15, 2043 [Member] | Automotive [Member] | Public Unsecured Debt Securities [Member] | ' | ' |
Debt Instruments [Abstract] | ' | ' |
Debt Instrument, Increase, Additional Borrowings | 2,000,000,000 | ' |
Debt Instrument, Interest Rate, Stated Percentage | 4.75% | ' |
Notes due June 10, 2043 [Member] | Automotive [Member] | Public Unsecured Debt Securities [Member] | ' | ' |
Debt Instruments [Abstract] | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 7.50% | ' |
Debt Instrument, Decrease, Repayments | $600,000,000 | ' |
Derivative_Financial_Instrumen2
Derivative Financial Instruments and Hedging Activities Income Effect of Derivative Financial Instruments (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Derivative [Line Items] | ' | ' | ' | ' |
Maximum Length of Time Hedged in Cash Flow Hedge | ' | ' | '2 years | ' |
Automotive [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Foreign currency exchange contracts [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain/(Loss) Recorded in OCI | ($126) | ($131) | $169 | ($500) |
Gain/(Loss) Reclassified from AOCI to Income | 23 | -129 | -102 | -279 |
Gain/(Loss) Recognized in Income | ' | -2 | -3 | -2 |
Automotive [Member] | Not Designated as Hedging Instrument [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain/(Loss) Recognized in Income | -16 | 21 | -46 | -133 |
Automotive [Member] | Not Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain/(Loss) Recognized in Income | -24 | -75 | 21 | -110 |
Automotive [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain/(Loss) Recognized in Income | 8 | 96 | -67 | -19 |
Automotive [Member] | Not Designated as Hedging Instrument [Member] | Other - warrants [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain/(Loss) Recognized in Income | ' | ' | ' | -4 |
Financial Services [Member] | Designated as Hedging Instrument [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Loss/(Gain) related to change in fair value of derivatives | -67 | -118 | 501 | -276 |
Loss/(Gain) related to change in fair value on hedged debt | 70 | 112 | -468 | 268 |
Financial Services [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Interest rate contracts [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain/(Loss) Recognized in Income | 60 | 50 | 153 | 134 |
Net interest settlements and accruals excluded from the assessment of hedge effectiveness | 63 | 44 | 186 | 126 |
Ineffectiveness | -3 | 6 | -33 | 8 |
Financial Services [Member] | Not Designated as Hedging Instrument [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain/(Loss) Recognized in Income | -205 | -85 | -25 | -272 |
Financial Services [Member] | Not Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain/(Loss) Recognized in Income | -55 | -16 | 37 | -70 |
Financial Services [Member] | Not Designated as Hedging Instrument [Member] | Interest rate contracts [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain/(Loss) Recognized in Income | -19 | -8 | -25 | -12 |
Financial Services [Member] | Not Designated as Hedging Instrument [Member] | Cross-currency interest rate swap contracts [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain/(Loss) Recognized in Income | -131 | -61 | -37 | -109 |
Financial Services [Member] | Not Designated as Hedging Instrument [Member] | Other [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain/(Loss) Recognized in Income | ' | $0 | ' | ($81) |
Balance_Sheet_Effect_of_Deriva
Balance Sheet Effect of Derivative Financial Instruments (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Balance Sheet Effect of Derivative Instruments [Abstract] | ' | ' |
Fair Value of Assets | $1,300 | ' |
Automotive [Member] | ' | ' |
Balance Sheet Effect of Derivative Instruments [Abstract] | ' | ' |
Notional | 31,471 | 28,742 |
Fair Value of Assets | 465 | 241 |
Fair Value of Liabilities | 412 | 610 |
Automotive [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Balance Sheet Effect of Derivative Instruments [Abstract] | ' | ' |
Notional | 13,653 | 11,079 |
Fair Value of Assets | 164 | 91 |
Fair Value of Liabilities | 237 | 253 |
Automotive [Member] | Foreign currency exchange contracts [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Balance Sheet Effect of Derivative Instruments [Abstract] | ' | ' |
Notional | 11,242 | 9,225 |
Fair Value of Assets | 141 | 68 |
Fair Value of Liabilities | 215 | 129 |
Automotive [Member] | Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Balance Sheet Effect of Derivative Instruments [Abstract] | ' | ' |
Notional | 2,411 | 1,854 |
Fair Value of Assets | 23 | 23 |
Fair Value of Liabilities | 22 | 124 |
Automotive [Member] | Cash Flow Hedging [Member] | Foreign currency exchange contracts [Member] | Designated as Hedging Instrument [Member] | ' | ' |
Balance Sheet Effect of Derivative Instruments [Abstract] | ' | ' |
Notional | 17,818 | 17,663 |
Fair Value of Assets | 301 | 150 |
Fair Value of Liabilities | 175 | 357 |
Financial Services [Member] | ' | ' |
Balance Sheet Effect of Derivative Instruments [Abstract] | ' | ' |
Notional | 93,296 | 91,057 |
Fair Value of Assets | 865 | 1,300 |
Fair Value of Liabilities | 555 | 381 |
Financial Services [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Balance Sheet Effect of Derivative Instruments [Abstract] | ' | ' |
Notional | 73,962 | 74,303 |
Fair Value of Assets | 398 | 513 |
Fair Value of Liabilities | 383 | 373 |
Financial Services [Member] | Foreign currency exchange contracts [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Balance Sheet Effect of Derivative Instruments [Abstract] | ' | ' |
Notional | 2,942 | 2,378 |
Fair Value of Assets | 12 | 9 |
Fair Value of Liabilities | 65 | 8 |
Financial Services [Member] | Interest rate contracts [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Balance Sheet Effect of Derivative Instruments [Abstract] | ' | ' |
Notional | 67,768 | 68,919 |
Fair Value of Assets | 386 | 504 |
Fair Value of Liabilities | 147 | 248 |
Financial Services [Member] | Cross-currency interest rate swap contracts [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Balance Sheet Effect of Derivative Instruments [Abstract] | ' | ' |
Notional | 3,252 | 3,006 |
Fair Value of Assets | ' | 0 |
Fair Value of Liabilities | 171 | 117 |
Financial Services [Member] | Fair Value Hedging [Member] | Interest rate contracts [Member] | Designated as Hedging Instrument [Member] | ' | ' |
Balance Sheet Effect of Derivative Instruments [Abstract] | ' | ' |
Notional | 19,334 | 16,754 |
Fair Value of Assets | 467 | 787 |
Fair Value of Liabilities | $172 | $8 |
Derivative_Financial_Instrumen3
Derivative Financial Instruments and Hedging Activities Counterparty Risk and Collateral (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Derivative [Line Items] | ' | ' |
Fair Value of Assets | $1,300 | ' |
Automotive [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Fair Value of Assets | 465 | 241 |
Fair Value of Liabilities | 412 | 610 |
Fair Value of Assets, Gross derivative amounts not offset in the balance sheet that are eligible for offsetting | -342 | -218 |
Fair Value of Liabilities, Gross derivative amounts not offset in the balance sheet that are eligible for offsetting | -342 | -218 |
Fair Value of Assets, Net amount | 123 | 23 |
Fair Value of Liabilities, Net amount | 70 | 392 |
Derivative asset instruments, adjustment for non-performance risk | 1 | 1 |
Derivative liability instruments, adjusted for non-performance risk | 1 | 1 |
Financial Services [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Fair Value of Assets | 865 | 1,300 |
Fair Value of Liabilities | 555 | 381 |
Fair Value of Assets, Gross derivative amounts not offset in the balance sheet that are eligible for offsetting | -346 | -222 |
Fair Value of Liabilities, Gross derivative amounts not offset in the balance sheet that are eligible for offsetting | -346 | -222 |
Fair Value of Assets, Net amount | 519 | 1,078 |
Fair Value of Liabilities, Net amount | 209 | 159 |
Derivative asset instruments, adjustment for non-performance risk | -4 | 14 |
Derivative liability instruments, adjusted for non-performance risk | $20 | $5 |
Redeemable_Noncontrolling_Inte2
Redeemable Noncontrolling Interest (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 01, 2018 | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | Auto Alliance International [Member] | Auto Alliance International [Member] | Auto Alliance International [Member] | Auto Alliance International [Member] | Auto Alliance International [Member] | ||
Mazda [Member] | Mazda [Member] | ||||||
Redeemable Noncontrolling Interest [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Parent | ' | ' | ' | 50.00% | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | ' | ' | ' | ' | ' | 50.00% | 50.00% |
Redeemable Non Controlling Interest Exercise Price | ' | ' | ' | $339 | ' | ' | ' |
Business Acquisition Period Redeemable Noncontrolling Interest Exercised | ' | ' | ' | ' | '3 years | ' | ' |
Redeemable Noncontrolling Interest [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | 329 | 322 | 319 | 322 | ' | ' | ' |
Accretion of redemption value of noncontrolling interest | ' | ' | 1 | 7 | ' | ' | ' |
Ending balance | $329 | $322 | $320 | $329 | ' | ' | ' |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income/(Loss) (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Foreign currency transaction | ' | ' | ' | ' | ' |
Other comprehensive income/(loss), net of tax | $314 | $440 | ($486) | $185 | ' |
Derivative instruments | ' | ' | ' | ' | ' |
Other comprehensive income/(loss), net of tax | -95 | 1 | 191 | -151 | ' |
Pension and other postretirement benefits | ' | ' | ' | ' | ' |
Other comprehensive income/(loss), net of tax | 109 | -54 | 1,640 | 159 | ' |
Total AOCI ending balance | -21,509 | ' | -21,509 | ' | -22,854 |
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | ' | ' | 44 | ' | ' |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax, Portion Attributable to Parent [Abstract] | ' | ' | ' | ' | ' |
Net gain/(loss) on derivative instruments, tax | ' | ' | 52 | -153 | ' |
Reclassifications to net income, tax | ' | ' | 28 | 83 | ' |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax, Portion Attributable to Parent [Abstract] | ' | ' | ' | ' | ' |
Net gain/(loss) arising during period, tax | ' | ' | 271 | 0 | ' |
Amortization of prior service cost included in net income, tax | ' | ' | -21 | -84 | ' |
Amortization of gain/(loss) included in net income, tax | ' | ' | 481 | 225 | ' |
Parent [Member] | ' | ' | ' | ' | ' |
Foreign currency transaction | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | -1,241 | -1,383 | ' |
Net gain/(loss) on foreign currency translation | ' | ' | -597 | 185 | ' |
Reclassifications to net income | 103 | ' | 111 | 0 | ' |
Other comprehensive income/(loss), net of tax | ' | ' | -486 | 185 | ' |
Ending balance | -1,727 | -1,198 | -1,727 | -1,198 | ' |
Derivative instruments | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | -175 | -181 | ' |
Net gain/(loss) on derivative instruments | ' | ' | 117 | -347 | ' |
Reclassifications to net income | ' | ' | 74 | 196 | ' |
Other comprehensive income/(loss), net of tax | ' | ' | 191 | -151 | ' |
Ending balance | 16 | -332 | 16 | -332 | ' |
Pension and other postretirement benefits | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | -21,438 | -17,170 | ' |
Net gain/(loss) arising during the period | ' | ' | 498 | 0 | ' |
Amortization of prior service cost included in net income | ' | ' | -14 | -116 | ' |
Amortization of (gain)/loss included in net income | ' | ' | 1,116 | 498 | ' |
Translation impact on non-U.S. plans | ' | ' | 40 | -223 | ' |
Other comprehensive income/(loss), net of tax | ' | ' | 1,640 | 159 | ' |
Ending balance | -19,798 | -17,011 | -19,798 | -17,011 | ' |
Total AOCI ending balance | ($21,509) | ($18,541) | ($21,509) | ($18,541) | ' |
Other_Income_and_Loss_Details
Other Income and Loss (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Other Income and Loss [Abstract] | ' | ' | ' | ' |
Total | $200 | $427 | $686 | $675 |
Total | 100 | 104 | 270 | 260 |
Automotive [Member] | ' | ' | ' | ' |
Other Income and Loss [Abstract] | ' | ' | ' | ' |
Interest Income | 38 | 68 | 125 | 220 |
Realized and unrealized gains/(losses) on cash equivalents and marketable securities | 67 | 23 | 147 | 28 |
Gains/(Losses) on changes in investments in affiliates | -104 | 154 | -114 | -32 |
Gains/(Losses) on Extinguishment of Debt | ' | ' | -18 | ' |
Royalty income | 148 | 106 | 409 | 288 |
Other | 51 | 76 | 137 | 171 |
Total | 200 | 427 | 686 | 675 |
Financial Services [Member] | ' | ' | ' | ' |
Other Income and Loss [Abstract] | ' | ' | ' | ' |
Interest Income | 12 | 17 | 40 | 54 |
Realized and unrealized gains/(losses) on cash equivalents and marketable securities | 5 | 4 | -2 | 17 |
Insurance premiums earned | 28 | 24 | 87 | 75 |
Other | 55 | 59 | 145 | 114 |
Total | $100 | $104 | $270 | $260 |
Employee_Separation_Actions_an2
Employee Separation Actions and Exit and Disposal Activities (Details) (Ford Europe [Member], Facility Closing [Member], USD $) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2013 | Sep. 30, 2013 | |
Ford Europe [Member] | Facility Closing [Member] | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' |
Beginning balance | $287,000,000 | $0 |
Changes in accruals | 196,000,000 | 483,000,000 |
Payments | -93,000,000 | -95,000,000 |
Foreign currency translation | 11,000,000 | 13,000,000 |
Ending balance | 401,000,000 | 401,000,000 |
Pension-related costs | 48,000,000 | 180,000,000 |
Restructuring and Related Cost, Total Expected Cost, Excluding Pension | ' | 1,000,000,000 |
Restructuring And Related Cost, Total Expected Cost, Pension | $200,000,000 | ' |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Income Taxes [Line Items] | ' |
Deferred Federal Income Tax Expense (Benefit) Under American Taxpayer Relief Act of 2012 | $221 |
Dispositions_Changes_in_Invest2
Dispositions, Changes in Investments in Affiliates and Assets Held For Sale (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 01, 2012 | Jan. 02, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Jan. 02, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2012 |
In Millions, unless otherwise specified | Auto Alliance International [Member] | Auto Alliance International [Member] | Auto Alliance International [Member] | Auto Alliance International [Member] | Ford Romania SA [Member] | Ford Romania SA [Member] | Parent [Member] | Parent [Member] | Parent [Member] | Elims [Member] | Mazda [Member] | Mazda [Member] | Ford Romania SA [Member] | Consumer [Member] | Consumer [Member] | Saline [Member] | Sandusky [Member] | ||
Ford Romania SA [Member] | Auto Alliance International [Member] | Auto Alliance International [Member] | |||||||||||||||||
Dispositions [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pre-tax loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $96 | $77 |
Contractual obligation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 182 | ' |
Contractual obligation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15 |
Business Combinations [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation loss | ' | ' | ' | ' | ' | ' | ' | ' | 103 | 111 | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' |
Fair Value Inputs, Discount Rate | ' | ' | ' | ' | ' | ' | 8.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition Percentage of Assets And Liabilities Measured And Recorded | ' | ' | ' | ' | ' | 100.00% | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Assets Acquired (Liabilities Assumed), Net | ' | ' | ' | ' | ' | 868 | 48 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investments | 3,466 | 3,246 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 63 | ' | ' | ' | ' |
Pre-tax gain/(loss) | ' | ' | 155 | ' | ' | ' | ' | -15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redeemable noncontrolling interest | 329 | 322 | 320 | 329 | 322 | 319 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value of Investment in AAI | ' | ' | ' | ' | ' | 549 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | 50.00% | ' | ' | ' | ' | ' |
Business Acquisition, Purchase Price Allocation [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' | ' | ' | 9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Receivables | ' | ' | ' | ' | ' | ' | 119 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Inventories | ' | ' | ' | ' | ' | ' | 70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net property | ' | ' | ' | ' | ' | ' | 927 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other assets | ' | ' | ' | ' | ' | ' | 112 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets | ' | ' | ' | ' | ' | ' | 1,237 | ' | ' | ' | ' | 68 | ' | ' | ' | ' | ' | ' | ' |
Payables | ' | ' | ' | ' | ' | ' | 232 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued Liabilities | ' | ' | ' | ' | ' | ' | 72 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt | ' | ' | ' | ' | ' | ' | 881 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other liabilities | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total liabilities | ' | ' | ' | ' | ' | ' | 1,189 | ' | ' | ' | ' | 360 | ' | ' | ' | ' | ' | ' | ' |
Assets Held For Sale [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Sale of Loans Held-for-sale | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 160 | 410 | ' | ' |
Gain (Loss) on Sale of Notes Receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 7 | ' | ' |
Other Expenses Related to the Sale of Finance Receivables | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 56 | ' | ' |
Assets held for sale | $98 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $98 | $98 | ' | ' |
Amounts_Per_Share_Details
Amounts Per Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Basic and Diluted Income Attributable to Ford Motor Company [Abstract] | ' | ' | ' | ' |
Basic income | $1,272 | $1,631 | $4,116 | $4,067 |
Diluted income | 1,282 | 1,643 | 4,150 | 4,101 |
Basic and Diluted Shares [Abstract] | ' | ' | ' | ' |
Basic shares (average shares outstanding) | 3,942 | 3,814 | 3,933 | 3,811 |
Net dilutive options and warrants | 53 | 59 | 52 | 108 |
Diluted shares | 4,096 | 3,972 | 4,086 | 4,017 |
Convertible 2016 Notes [Member] | ' | ' | ' | ' |
Basic and Diluted Income Attributable to Ford Motor Company [Abstract] | ' | ' | ' | ' |
Effect of dilutive Convertible Notes | 10 | 12 | 33 | 33 |
Basic and Diluted Shares [Abstract] | ' | ' | ' | ' |
Dilutive Convertible Notes | 98 | 96 | 98 | 95 |
Convertible 2036 Notes [Member] | ' | ' | ' | ' |
Basic and Diluted Income Attributable to Ford Motor Company [Abstract] | ' | ' | ' | ' |
Effect of dilutive Convertible Notes | ' | ' | $1 | $1 |
Basic and Diluted Shares [Abstract] | ' | ' | ' | ' |
Dilutive Convertible Notes | 3 | 3 | 3 | 3 |
United Auto Workers Voluntary Employees Beneficiary Association Trust Secured Debt [Member] | ' | ' | ' | ' |
Warrants [Abstract] | ' | ' | ' | ' |
Net dilutive effect for warrants (in shares) | ' | 19 | ' | 60 |
Warrants outstanding (in shares) | ' | 362 | ' | 362 |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | $33,857 | $30,247 | $103,794 | $92,100 | ' |
Revenues | 2,119 | 1,925 | 6,087 | 5,728 | ' |
Revenues | 35,976 | 32,172 | 109,881 | 97,828 | ' |
Income/ (Loss) before income taxes | 2,091 | 2,246 | 6,033 | 5,879 | ' |
Total assets | 201,071 | 184,680 | 201,071 | 184,680 | 190,554 |
Automotive [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 33,857 | 30,247 | 103,794 | 92,100 | ' |
Income/ (Loss) before income taxes | 1,728 | 1,858 | 4,716 | 4,588 | ' |
Total assets | 91,171 | 84,384 | 91,171 | 84,384 | 86,458 |
Automotive [Member] | Ford North America [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 21,690 | 19,438 | 66,383 | 57,747 | ' |
Income/ (Loss) before income taxes | 2,308 | 2,328 | 7,079 | 6,471 | ' |
Total assets | 59,037 | 51,718 | 59,037 | 51,718 | ' |
Automotive [Member] | Ford South America [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 2,818 | 2,314 | 8,140 | 7,047 | ' |
Income/ (Loss) before income taxes | 159 | 9 | 92 | 68 | ' |
Total assets | 7,108 | 6,351 | 7,108 | 6,351 | ' |
Automotive [Member] | Ford Europe [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 6,505 | 5,828 | 20,785 | 20,110 | ' |
Income/ (Loss) before income taxes | -228 | -468 | -1,038 | -1,021 | ' |
Total assets | 16,094 | 19,079 | 16,094 | 19,079 | ' |
Automotive [Member] | Ford Asia Pacific Africa [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 2,844 | 2,667 | 8,486 | 7,196 | ' |
Income/ (Loss) before income taxes | 126 | 45 | 309 | -116 | ' |
Total assets | 8,932 | 7,236 | 8,932 | 7,236 | ' |
Automotive [Member] | Other Automotive [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 0 | 0 | 0 | 0 | ' |
Income/ (Loss) before income taxes | -139 | -139 | -469 | -408 | ' |
Total assets | 0 | 0 | 0 | 0 | ' |
Automotive [Member] | Special Items [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 0 | ' | 0 | ' | ' |
Income/ (Loss) before income taxes | -498 | 83 | -1,257 | -406 | ' |
Total assets | 0 | 0 | 0 | 0 | ' |
Financial Services [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 2,119 | 1,925 | 6,087 | 5,728 | ' |
Income/ (Loss) before income taxes | 363 | 388 | 1,317 | 1,291 | ' |
Total assets | 112,090 | 102,143 | 112,090 | 102,143 | 106,160 |
Financial Services [Member] | Ford Credit [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 2,175 | 1,960 | 6,269 | 5,874 | ' |
Income/ (Loss) before income taxes | 427 | 393 | 1,388 | 1,283 | ' |
Total assets | 113,288 | 101,327 | 113,288 | 101,327 | ' |
Financial Services [Member] | Other Financial Services [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 45 | 65 | 158 | 206 | ' |
Income/ (Loss) before income taxes | -64 | -5 | -71 | 8 | ' |
Total assets | 5,748 | 8,005 | 5,748 | 8,005 | ' |
Financial Services [Member] | Elims [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | -101 | -100 | -340 | -352 | ' |
Income/ (Loss) before income taxes | 0 | 0 | 0 | 0 | ' |
Total assets | -6,946 | -7,189 | -6,946 | -7,189 | ' |
Intersector [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Total assets | 202,742 | ' | 202,742 | ' | 192,366 |
Intersector [Member] | Elims [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 0 | 0 | 0 | 0 | ' |
Income/ (Loss) before income taxes | 0 | 0 | 0 | 0 | ' |
Total assets | ($2,190) | ($1,847) | ($2,190) | ($1,847) | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |
Affiliated Entity [Member] | Affiliated Entity [Member] | |||
Guarantees [Abstract] | ' | ' | ' | ' |
Maximum potential payments | ' | ' | $228,000,000 | $409,000,000 |
Carrying value of recorded liabilities related to guarantees | ' | ' | 6,000,000 | 17,000,000 |
Loss Contingency [Abstract] | ' | ' | ' | ' |
Loss contingency estimate | 2,600,000,000 | ' | ' | ' |
Warranty [Abstract] | ' | ' | ' | ' |
Product warranty reserve, beginning balance | 3,656,000,000 | 3,915,000,000 | ' | ' |
Payments made during the period | -1,763,000,000 | -1,675,000,000 | ' | ' |
Changes in accrual related to warranties issued during the period | 1,471,000,000 | 1,402,000,000 | ' | ' |
Changes in accrual related to pre-existing warranties | 227,000,000 | -17,000,000 | ' | ' |
Foreign currency translation and other | -54,000,000 | 23,000,000 | ' | ' |
Product warranty reserve, ending balance | $3,537,000,000 | $3,648,000,000 | ' | ' |