DOCUMENT_AND_ENTITY_INFORMATIO
DOCUMENT AND ENTITY INFORMATION Document | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2014 | Oct. 24, 2014 | Oct. 24, 2014 | |
Common Stock [Member] | Class B Stock [Member] | |||
Document Type | ' | '10-Q | ' | ' |
Amendment Flag | ' | 'false | ' | ' |
Document Period End Date | ' | 30-Sep-14 | ' | ' |
Document Fiscal Year Focus | ' | '2014 | ' | ' |
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 | ' | ' | 3,777,835,341 | 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, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Revenues | ' | ' | ' | ' |
Automotive | $32,779 | $33,857 | $102,020 | $103,794 |
Financial Services | 2,141 | 1,918 | 6,187 | 5,553 |
Total revenues | 34,920 | 35,775 | 108,207 | 109,347 |
Costs and expenses | ' | ' | ' | ' |
Automotive cost of sales | 30,197 | 30,030 | 92,465 | 92,559 |
Selling, administrative and other expenses | 3,484 | 3,235 | 10,332 | 9,562 |
Total costs and expenses | 34,428 | 34,073 | 105,048 | 104,433 |
Automotive interest income and other income/(loss), net | 255 | 200 | 739 | 686 |
Financial Services other income/(loss), net | 90 | 100 | 245 | 270 |
Equity in net income/(loss) of affiliated companies | 388 | 293 | 874 | 780 |
Income before income taxes | 1,021 | 2,091 | 4,398 | 6,033 |
Provision for/(Benefit from) income taxes | 188 | 818 | 1,261 | 1,914 |
Net income | 833 | 1,273 | 3,137 | 4,119 |
Income/(Loss) attributable to noncontrolling interests | -2 | 1 | 2 | 3 |
Net income attributable to Ford Motor Company | 835 | 1,272 | 3,135 | 4,116 |
Basic income | ' | ' | ' | ' |
Basic income (in dollars per share) | $0.22 | $0.32 | $0.80 | $1.05 |
Diluted income | ' | ' | ' | ' |
Diluted income (in dollars per share) | $0.21 | $0.31 | $0.78 | $1.02 |
Cash dividends declared | $0.13 | $0.10 | $0.38 | $0.30 |
Automotive [Member] | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' |
Automotive | 32,779 | 33,857 | 102,020 | 103,794 |
Costs and expenses | ' | ' | ' | ' |
Automotive cost of sales | 30,197 | 30,030 | 92,465 | 92,559 |
Selling, administrative and other expenses | 2,489 | 2,382 | 7,516 | 7,351 |
Total costs and expenses | 32,686 | 32,412 | 99,981 | 99,910 |
Interest expense | 204 | 204 | 619 | 617 |
Automotive interest income and other income/(loss), net | 255 | 200 | 739 | 686 |
Equity in net income/(loss) of affiliated companies | 382 | 287 | 853 | 763 |
Income before income taxes | 526 | 1,728 | 3,012 | 4,716 |
Financial Services [Member] | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' |
Financial Services | 2,141 | 1,918 | 6,187 | 5,553 |
Costs and expenses | ' | ' | ' | ' |
Interest expense | 673 | 762 | 2,034 | 2,173 |
Depreciation on vehicles subject to operating leases | 808 | 632 | 2,256 | 1,673 |
Operating and other expenses | 187 | 221 | 560 | 538 |
Financial Services provision for credit and insurance losses | 74 | 46 | 217 | 139 |
Total costs and expenses | 1,742 | 1,661 | 5,067 | 4,523 |
Financial Services other income/(loss), net | 90 | 100 | 245 | 270 |
Equity in net income/(loss) of affiliated companies | 6 | 6 | 21 | 17 |
Income before income taxes | $495 | $363 | $1,386 | $1,317 |
CONSOLIDATED_STATEMENT_OF_COMP
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Net income | $833 | $1,273 | $3,137 | $4,119 |
Foreign currency translation | -550 | 313 | -468 | -483 |
Derivative instruments | -48 | -95 | -243 | 191 |
Pension and other postretirement benefits | 540 | 109 | 776 | 1,640 |
Total other comprehensive income/(loss), net of tax | -58 | 327 | 65 | 1,348 |
Comprehensive income | 775 | 1,600 | 3,202 | 5,467 |
Comprehensive income/(loss) attributable to noncontrolling interests | -2 | 1 | 2 | 3 |
Comprehensive income attributable to Ford Motor Company | $777 | $1,599 | $3,200 | $5,464 |
CONSOLIDATED_AND_SECTOR_BALANC
CONSOLIDATED AND SECTOR BALANCE SHEET (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and cash equivalents | $13,320 | $14,468 |
Marketable securities | 20,643 | 22,100 |
Finance receivables, net | 79,882 | 77,481 |
Other receivables, net | 11,143 | 9,828 |
Net investment in operating leases | 23,010 | 19,984 |
Inventories | 9,296 | 7,708 |
Equity in net assets of affiliated companies | 3,103 | 3,679 |
Net property | 30,048 | 27,616 |
Deferred income taxes | 12,312 | 13,468 |
Other assets | 6,078 | 5,847 |
Total assets | 208,835 | 202,179 |
LIABILITIES | ' | ' |
Payables | 21,155 | 19,531 |
Other liabilities and deferred revenue | 41,407 | 40,886 |
Debt | 119,193 | 114,688 |
Deferred income taxes | 576 | 598 |
Total liabilities | 182,331 | 175,703 |
Redeemable noncontrolling interest | 339 | 331 |
EQUITY | ' | ' |
Capital in excess of par value of stock | 21,680 | 21,422 |
Retained earnings | 25,051 | 23,386 |
Accumulated other comprehensive income/(loss) | -18,165 | -18,230 |
Treasury stock | -2,470 | -506 |
Total equity attributable to Ford Motor Company | 26,136 | 26,112 |
Equity attributable to noncontrolling interests | 29 | 33 |
Total equity | 26,165 | 26,145 |
Total liabilities and equity | 208,835 | 202,179 |
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 | 14,075 | 15,194 |
Total assets | 210,598 | 203,905 |
LIABILITIES | ' | ' |
Deferred income taxes | 2,339 | 2,324 |
Total liabilities | 184,094 | 177,429 |
EQUITY | ' | ' |
Total liabilities and equity | 210,598 | 203,905 |
Automotive [Member] | ' | ' |
ASSETS | ' | ' |
Cash and cash equivalents | 5,980 | 4,959 |
Marketable securities | 16,876 | 20,157 |
Total cash and marketable securities | 22,856 | 25,116 |
Receivables, less allowances | 5,697 | 5,641 |
Inventories | 9,296 | 7,708 |
Deferred income taxes | 1,590 | 1,574 |
Net investment in operating leases | 1,935 | 1,384 |
Other current assets | 1,305 | 1,034 |
Total current assets | 42,679 | 42,457 |
Equity in net assets of affiliated companies | 2,964 | 3,546 |
Net property | 29,739 | 27,492 |
Deferred income taxes | 12,307 | 13,436 |
Other assets | 2,890 | 2,824 |
Non-current receivable from Financial Services | 694 | 724 |
Total assets | 91,273 | 90,479 |
LIABILITIES | ' | ' |
Payables | 19,892 | 18,035 |
Other liabilities and deferred revenue | 39,444 | 38,626 |
Debt | 14,943 | 15,683 |
Other liabilities and deferred revenue | 18,254 | 16,537 |
Deferred income taxes | 313 | 267 |
Debt payable within one year | 2,727 | 1,257 |
Current payable to Financial Services | 453 | 907 |
Total current liabilities | 41,639 | 37,003 |
Long-term Debt | 12,216 | 14,426 |
Other liabilities and deferred revenue, non-current | 21,190 | 22,089 |
Deferred income taxes | 408 | 430 |
Total liabilities | 75,453 | 73,948 |
Financial Services [Member] | ' | ' |
ASSETS | ' | ' |
Cash and cash equivalents | 7,340 | 9,509 |
Marketable securities | 3,767 | 1,943 |
Finance receivables, net | 84,537 | 80,816 |
Net investment in operating leases | 21,075 | 18,600 |
Equity in net assets of affiliated companies | 139 | 133 |
Other assets | 3,161 | 3,149 |
Receivable from Automotive | 453 | 907 |
Total assets | 120,472 | 115,057 |
LIABILITIES | ' | ' |
Payables | 1,263 | 1,496 |
Other liabilities and deferred revenue | 1,963 | 2,260 |
Debt | 104,250 | 99,005 |
Deferred income taxes | 1,618 | 1,627 |
Other liabilities and deferred income | 1,963 | 2,260 |
Payable to Automotive | 694 | 724 |
Total liabilities | 109,788 | 105,112 |
Intersector Eliminations [Member] | ' | ' |
ASSETS | ' | ' |
Deferred income taxes | -1,763 | -1,726 |
Total assets | -1,147 | -1,631 |
LIABILITIES | ' | ' |
Deferred income taxes | -1,763 | -1,726 |
Total liabilities | -1,147 | -1,631 |
Variable Interest Entity, Primary Beneficiary [Member] | ' | ' |
ASSETS | ' | ' |
Cash and cash equivalents | 2,022 | 4,198 |
Finance receivables, net | 37,590 | 45,796 |
Net investment in operating leases | 9,927 | 8,116 |
Other assets | 13 | 5 |
LIABILITIES | ' | ' |
Other liabilities and deferred revenue | 18 | 88 |
Debt | $35,869 | $40,728 |
CONSOLIDATED_AND_SECTOR_BALANC1
CONSOLIDATED AND SECTOR BALANCE SHEET (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
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) | 3,934 | ' |
Common Stock, Shares Authorized | 6,000 | ' |
Class B Stock [Member] | ' | ' |
EQUITY | ' | ' |
Common Stock, par value (in dollars per share) | $0.01 | ' |
Common Stock, shares issued (in shares) | 71 | ' |
Common Stock, Shares Authorized | 530 | ' |
Automotive [Member] | ' | ' |
ASSETS | ' | ' |
Allowance for receivables | $119 | $132 |
CONSOLIDATED_AND_SECTOR_STATEM
CONSOLIDATED AND SECTOR STATEMENT OF CASH FLOWS (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Cash flows from operating activities of continuing operations | ' | ' |
Net cash provided by/(used in) operating activities | $12,339 | $10,129 |
Cash flows from investing activities of continuing operations | ' | ' |
Capital spending | -5,309 | -4,659 |
Acquisitions of finance receivables and operating leases (excluding wholesale and other) | -39,368 | -33,636 |
Collections of finance receivables and operating leases (excluding wholesale and other) | 27,607 | 25,141 |
Purchases of securities | -37,788 | -96,614 |
Sales and maturities of securities | 39,153 | 94,064 |
Settlements of derivatives | -46 | -247 |
Proceeds from Sale of Finance Receivables | 0 | 410 |
Other | 157 | 221 |
Net cash provided by/(used in) investing activities | -15,594 | -15,320 |
Cash flows from financing activities of continuing operations | ' | ' |
Cash dividends | -1,470 | -1,179 |
Purchases of Common Stock | -1,964 | -164 |
Changes in short-term debt | -2,792 | -3,227 |
Proceeds from issuance of other debt | 31,107 | 28,946 |
Principal payments on other debt | -22,504 | -20,288 |
Other | 36 | 254 |
Net cash provided by/(used in) financing activities | 2,413 | 4,342 |
Effect of exchange rate changes on cash and cash equivalents | -306 | -58 |
Net increase/(decrease) in cash and cash equivalents | -1,148 | -907 |
Cash and cash equivalents | ' | ' |
Cash and cash equivalents at January 1 | 14,468 | 15,659 |
Net increase/(decrease) in cash and cash equivalents | -1,148 | -907 |
Cash and cash equivalents at end of period | 13,320 | 14,752 |
Automotive [Member] | ' | ' |
Cash flows from operating activities of continuing operations | ' | ' |
Net cash provided by/(used in) operating activities | 6,733 | 6,378 |
Cash flows from investing activities of continuing operations | ' | ' |
Capital spending | -5,236 | -4,635 |
Acquisitions of finance receivables and operating leases (excluding wholesale and other) | 0 | 0 |
Collections of finance receivables and operating leases (excluding wholesale and other) | 0 | 0 |
Net change in wholesale and other receivables | 0 | 0 |
Purchases of securities | -26,836 | -71,471 |
Sales and maturities of securities | 30,061 | 69,246 |
Settlements of derivatives | 115 | -274 |
Proceeds from Sale of Finance Receivables | 0 | 0 |
Investing activity (to)/from Financial Services | 178 | 298 |
Other | 55 | 203 |
Net cash provided by/(used in) investing activities | -1,663 | -6,633 |
Cash flows from financing activities of continuing operations | ' | ' |
Cash dividends | -1,470 | -1,179 |
Purchases of Common Stock | -1,964 | -164 |
Changes in short-term debt | 22 | -120 |
Proceeds from issuance of other debt | 156 | 2,175 |
Principal payments on other debt | -829 | -1,230 |
Financing activity to/(from) Automotive | 0 | 0 |
Other | 122 | 264 |
Net cash provided by/(used in) financing activities | -3,963 | -254 |
Effect of exchange rate changes on cash and cash equivalents | -86 | -78 |
Net increase/(decrease) in cash and cash equivalents | 1,021 | -587 |
Cash and cash equivalents | ' | ' |
Cash and cash equivalents at January 1 | 4,959 | 6,247 |
Net increase/(decrease) in cash and cash equivalents | 1,021 | -587 |
Cash and cash equivalents at end of period | 5,980 | 5,660 |
Financial Services [Member] | ' | ' |
Cash flows from operating activities of continuing operations | ' | ' |
Net cash provided by/(used in) operating activities | 3,878 | 3,172 |
Cash flows from investing activities of continuing operations | ' | ' |
Capital spending | -73 | -24 |
Acquisitions of finance receivables and operating leases (excluding wholesale and other) | -36,911 | -31,880 |
Collections of finance receivables and operating leases (excluding wholesale and other) | 27,607 | 25,141 |
Net change in wholesale and other receivables | -729 | -1,177 |
Purchases of securities | -10,952 | -25,143 |
Sales and maturities of securities | 9,092 | 24,818 |
Settlements of derivatives | -161 | 27 |
Proceeds from Sale of Finance Receivables | 0 | 410 |
Investing activity (to)/from Financial Services | 0 | 0 |
Other | 102 | 18 |
Net cash provided by/(used in) investing activities | -12,025 | -7,810 |
Cash flows from financing activities of continuing operations | ' | ' |
Cash dividends | 0 | 0 |
Purchases of Common Stock | 0 | 0 |
Changes in short-term debt | -2,814 | -3,107 |
Proceeds from issuance of other debt | 30,951 | 26,771 |
Principal payments on other debt | -21,675 | -19,058 |
Financing activity to/(from) Automotive | -178 | -298 |
Other | -86 | -10 |
Net cash provided by/(used in) financing activities | 6,198 | 4,298 |
Effect of exchange rate changes on cash and cash equivalents | -220 | 20 |
Net increase/(decrease) in cash and cash equivalents | -2,169 | -320 |
Cash and cash equivalents | ' | ' |
Cash and cash equivalents at January 1 | 9,509 | 9,412 |
Net increase/(decrease) in cash and cash equivalents | -2,169 | -320 |
Cash and cash equivalents at end of period | $7,340 | $9,092 |
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 [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Equity Attributable to Non-controlling Interests [Member] |
In Millions, unless otherwise specified | ||||||||
Total equity/(deficit) at Dec. 31, 2012 | $15,686 | ' | ' | ' | ' | ' | ' | ' |
Equity/(Deficit) attributable to noncontrolling interests at Dec. 31, 2012 | 42 | ' | ' | ' | ' | ' | ' | ' |
Equity/(deficit) attributable to Ford Motor Company at Dec. 31, 2012 | 15,644 | ' | 40 | 20,976 | 17,778 | -22,858 | -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 | 1,348 | 1,348 | 0 | 0 | 0 | 1,348 | 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 | 20,210 | ' | ' | ' | ' | ' | ' | ' |
Equity/(Deficit) attributable to noncontrolling interests at Sep. 30, 2013 | 43 | ' | ' | ' | ' | ' | ' | ' |
Equity/(deficit) attributable to Ford Motor Company at Sep. 30, 2013 | 20,167 | ' | 40 | 21,378 | 20,715 | -21,510 | -456 | ' |
Total equity/(deficit) at Dec. 31, 2013 | 26,145 | ' | ' | ' | ' | ' | ' | ' |
Equity/(Deficit) attributable to noncontrolling interests at Dec. 31, 2013 | 33 | ' | ' | ' | ' | ' | ' | ' |
Equity/(deficit) attributable to Ford Motor Company at Dec. 31, 2013 | 26,112 | ' | 40 | 21,422 | 23,386 | -18,230 | -506 | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Ford Motor Company | 3,135 | ' | 0 | 0 | 3,135 | 0 | 0 | ' |
Income/(Loss) attributable to noncontrolling interests | 2 | ' | ' | ' | ' | ' | ' | ' |
Net income | 3,137 | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income/(loss), net of tax | 65 | 65 | 0 | 0 | 0 | 65 | 0 | 0 |
Common stock issued (including share-based compensation impacts) | 258 | 258 | 0 | 258 | 0 | 0 | 0 | 0 |
Treasury stock/other | -1,968 | -1,964 | 0 | 0 | 0 | 0 | -1,964 | -4 |
Cash dividends declared | -1,472 | -1,470 | 0 | 0 | -1,470 | 0 | 0 | -2 |
Total equity/(deficit) at Sep. 30, 2014 | 26,165 | ' | ' | ' | ' | ' | ' | ' |
Equity/(Deficit) attributable to noncontrolling interests at Sep. 30, 2014 | 29 | ' | ' | ' | ' | ' | ' | ' |
Equity/(deficit) attributable to Ford Motor Company at Sep. 30, 2014 | $26,136 | ' | $40 | $21,680 | $25,051 | ($18,165) | ($2,470) | ' |
Presentation_Notes
Presentation (Notes) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
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, 2013 (“2013 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. | ||||||||
Change in accounting. We provide medical, life, and income benefits to hourly and salary employees when they become disabled. As of January 1, 2014, we changed our accounting policy for these benefits from an event-driven model to a service-accrual model, such that our obligation now includes an estimated cost to be incurred for individuals who are disabled at the time of measurement (which was the amount recorded under our previous policy) as well as an amount that considers the probability that active employees will become disabled in the future. We believe this change in accounting method is preferable because it better aligns the recognition of expense with the periods in which the Company receives the benefit of the employees’ services, and will allow for better comparability with the method used by other companies in our industry. | ||||||||
We have retroactively applied this change in accounting method to all prior period amounts. As of | ||||||||
December 31, 2012, the cumulative effect of the change decreased Total equity by $303 million and increased Other liabilities and deferred revenue by $468 million, as well as increased Deferred income taxes by $165 million. As of December 31, 2013, the cumulative effect of the change decreased Total equity by $271 million and increased Other liabilities and deferred revenue by $424 million, as well as increased Deferred income taxes by $153 million. The effect of this change was immaterial on income statement and statement of cash flow amounts for the interim periods ended September 30, 2014, and had no impact for the interim periods ended September 30, 2013. | ||||||||
Adoption of New Accounting Standards | ||||||||
Income Taxes - Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. On January 1, 2014, we adopted the new accounting standard that requires an unrecognized tax benefit to be presented as a decrease in a deferred tax asset when a net operating loss, a similar tax loss, or a tax credit carryforward exists, and certain criteria are met. The new accounting standard is consistent with our prior practice, and thus the adoption did not impact our consolidated financial statements. | ||||||||
Foreign Currency Matters - Parent’s Accounting for Cumulative Translation Adjustment. On January 1, 2014, we adopted the 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 consistent with our prior practice, and thus the adoption did not impact our consolidated financial statements. | ||||||||
Liabilities - Obligations Resulting from Joint and Several Liability Arrangements. On January 1, 2014, we adopted the new accounting standard that provides guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements. The adoption of this accounting standard did not impact our consolidated financial statements or financial statement disclosures. | ||||||||
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 on 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, | |||||||
2014 | 2013 | |||||||
Sector balance sheet presentation of deferred income tax assets | ||||||||
Automotive sector current deferred income tax assets | $ | 1,590 | $ | 1,574 | ||||
Automotive sector non-current deferred income tax assets | 12,307 | 13,436 | ||||||
Financial Services sector deferred income tax assets (a) | 178 | 184 | ||||||
Total | 14,075 | 15,194 | ||||||
Reclassification for netting of deferred income taxes | (1,763 | ) | (1,726 | ) | ||||
Consolidated balance sheet presentation of deferred income tax assets | $ | 12,312 | $ | 13,468 | ||||
Sector balance sheet presentation of deferred income tax liabilities | ||||||||
Automotive sector current deferred income tax liabilities | $ | 313 | $ | 267 | ||||
Automotive sector non-current deferred income tax liabilities | 408 | 430 | ||||||
Financial Services sector deferred income tax liabilities | 1,618 | 1,627 | ||||||
Total | 2,339 | 2,324 | ||||||
Reclassification for netting of deferred income taxes | (1,763 | ) | (1,726 | ) | ||||
Consolidated balance sheet presentation of deferred income tax liabilities | $ | 576 | $ | 598 | ||||
__________ | ||||||||
(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 and other receivables and interest supplements and residual support 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 | ||||||||
2014 | 2013 | |||||||
Automotive net cash provided by/(used in) operating activities | $ | 6,733 | $ | 6,378 | ||||
Financial Services net cash provided by/(used in) operating activities | 3,878 | 3,172 | ||||||
Total sector net cash provided by/(used in) operating activities | 10,611 | 9,550 | ||||||
Reclassifications between investing and operating cash flows | ||||||||
Purchases/Collections of wholesale receivables (a) | (728 | ) | (1,088 | ) | ||||
Purchases/Collections of other receivables (b) | (1 | ) | (89 | ) | ||||
Payments of interest supplements and residual support (c) | 2,457 | 1,756 | ||||||
Consolidated net cash provided by/(used in) operating activities | $ | 12,339 | $ | 10,129 | ||||
Automotive net cash provided by/(used in) investing activities | $ | (1,663 | ) | $ | (6,633 | ) | ||
Financial Services net cash provided by/(used in) investing activities | (12,025 | ) | (7,810 | ) | ||||
Total sector net cash provided by/(used in) investing activities | (13,688 | ) | (14,443 | ) | ||||
Reclassifications between investing and operating cash flows | ||||||||
Purchases/Collections of wholesale receivables (a) | 728 | 1,088 | ||||||
Purchases/Collections of other receivables (b) | 1 | 89 | ||||||
Payments of interest supplements and residual support (c) | (2,457 | ) | (1,756 | ) | ||||
Reclassifications between investing and financing cash flows | ||||||||
Elimination of investing activity to/(from) Financial Services in consolidation | (178 | ) | (298 | ) | ||||
Consolidated net cash provided by/(used in) investing activities | $ | (15,594 | ) | $ | (15,320 | ) | ||
Automotive net cash provided by/(used in) financing activities | $ | (3,963 | ) | $ | (254 | ) | ||
Financial Services net cash provided by/(used in) financing activities | 6,198 | 4,298 | ||||||
Total sector net cash provided by/(used in) financing activities | 2,235 | 4,044 | ||||||
Reclassifications between investing and financing cash flows | ||||||||
Elimination of investing activity to/(from) Financial Services in consolidation | 178 | 298 | ||||||
Consolidated net cash provided by/(used in) financing activities | $ | 2,413 | $ | 4,342 | ||||
__________ | ||||||||
(a) | In addition to the cash flows from vehicles sold by us, the cash flow from wholesale finance receivables (being reclassified between investing and 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 other receivables purchased/collected by the Financial Services sector from certain divisions and subsidiaries of the Automotive sector. | |||||||
(c) | Payments from Automotive sector to Ford Credit on behalf of the retail customer that represent interest supplements and residual support. | |||||||
NOTE 1. PRESENTATION (Continued) | ||||||||
Venezuelan Operations | ||||||||
On February 13, 2013, the Venezuelan government effected a devaluation of the bolivar, 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. This resulted in a remeasurement loss of $186 million in the first quarter of 2013. | ||||||||
Based on changes to Venezuelan currency exchange rate mechanisms in the first quarter of 2014, we changed the exchange rate we used to remeasure the financial statements of our Venezuelan subsidiaries in U.S. dollars. Since March 31, 2014, we have used the exchange rate determined by periodic auctions for U.S. dollars conducted under Venezuela’s Complementary System of Foreign Currency Administration (“SICAD I”). The exchange rate we used at March 31, 2014 was 10.8 bolivars to the U.S. dollar and resulted in a remeasurement loss of $316 million in the first quarter of 2014 ($310 million related to our Automotive sector and $6 million related to our Financial Services sector). At September 30, 2014, the SICAD I exchange rate was 12.0 bolivars to the U.S. dollar. | ||||||||
The operating environment in Venezuela continues to be challenging. Foreign exchange control regulations have affected our Venezuelan operation’s ability to pay dividends and obligations denominated in U.S. dollars and are constraining parts availability and our ability to maintain normal production. At September 30, 2014, our investment in our Venezuelan subsidiaries (which includes undistributed earnings) was $483 million. Also, at September 30, 2014, those subsidiaries had $261 million of U.S. dollar currency exchange requests pending with and in transit to the governmental controlled currency exchanges, including $257 million payable to other Ford consolidated affiliates. | ||||||||
At September 30, 2014, our Venezuelan subsidiaries had a bolivar-denominated net monetary position of | ||||||||
$352 million, including $342 million of bolivar-denominated cash and cash equivalents. A further devaluation from an exchange rate of 12.0 bolivars to the U.S. dollar would result in a balance sheet remeasurement loss. |
Accounting_Standards_Issued_Bu
Accounting Standards Issued But Not Yet Adopted (Notes) | 9 Months Ended |
Sep. 30, 2014 | |
Accounting Standards Issued but Not Yet Adopted [Abstract] | ' |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | ' |
ACCOUNTING STANDARDS ISSUED BUT NOT YET ADOPTED | |
Revenue - Revenue from Contracts with Customers. In May 2014, the Financial Accounting Standards Board (“FASB”) issued a new accounting standard that requires recognition of revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. The new standard supersedes virtually all present U.S. GAAP guidance on revenue recognition, and requires the use of more estimates and judgments than the present standards as well as additional disclosures. The new accounting standard is effective as of January 1, 2017 and we are assessing the potential impact to our consolidated financial statements and financial statement disclosures. | |
Transfers and Servicing - Repurchase-to-Maturity Transactions, Repurchase Financings and Disclosures. In June 2014, the FASB issued a new accounting standard that changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements. The new standard also requires additional disclosures for certain transfers of financial assets with agreements that both entitle and obligate the transferor to repurchase the transferred assets from the transferee. The new accounting standard is effective as of January 1, 2015 and we do not expect it to have an impact on our consolidated financial statements and financial statement disclosures. | |
Stock Compensation - Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. In June 2014, the FASB issued a new accounting standard that requires performance targets that could be achieved after the requisite service period be treated as performance conditions that affect the vesting of the award. The new accounting standard is effective as of January 1, 2016 and we do not expect it to have an impact on our consolidated financial statements and financial statement disclosures. | |
Consolidation - Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity. In August 2014, the FASB issued a new accounting standard that provides an entity the option to elect to measure the financial assets and financial liabilities of a consolidated collateralized financing entity (“CFE”) at a value that is reflective of its economic interest in the CFE. The new accounting standard is effective as of January 1, 2016 and we are assessing the potential impact to our consolidated financial statements and financial statement disclosures. | |
Going Concern - Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. In | |
August 2014, the FASB issued a new accounting standard that requires management to assess if there is substantial doubt about an entity’s ability to continue as a going concern for each annual and interim period. If conditions or events give rise to substantial doubt, disclosures are required. The new accounting standard is effective as of December 31, 2016 and we do not expect it to have an impact on our financial statement disclosures. |
Fair_Value_Measurements_Notes
Fair Value Measurements (Notes) | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||||||||||
Fair Value Disclosures [Text Block] | ' | |||||||||||||||||||||||||||||||
FAIR VALUE MEASUREMENTS | ||||||||||||||||||||||||||||||||
Cash equivalents, marketable securities, and derivative financial instruments are presented on 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. There have been no changes to the types of inputs used or the valuation techniques since year end. During the second quarter of 2014, we impaired our equity in net assets of Ford Sollers Netherlands B.V. (“Ford Sollers”), which resulted in a fair value measurement on a non-recurring basis. See | ||||||||||||||||||||||||||||||||
Note 17 for additional information. | ||||||||||||||||||||||||||||||||
NOTE 3. FAIR VALUE MEASUREMENTS (Continued) | ||||||||||||||||||||||||||||||||
Input Hierarchy of Items Measured at Fair Value on a Recurring Basis | ||||||||||||||||||||||||||||||||
The following table categorizes the fair values of items measured at fair value on a recurring basis on our balance sheet (in millions): | ||||||||||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||
Automotive Sector | ||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Cash equivalents – financial instruments | ||||||||||||||||||||||||||||||||
U.S. government and agencies | $ | — | $ | 58 | $ | — | $ | 58 | $ | — | $ | 33 | $ | — | $ | 33 | ||||||||||||||||
Non-U.S. government and agencies | — | — | — | — | — | 200 | — | 200 | ||||||||||||||||||||||||
Corporate debt | — | 40 | — | 40 | — | — | — | — | ||||||||||||||||||||||||
Total cash equivalents (a) | — | 98 | — | 98 | — | 233 | — | 233 | ||||||||||||||||||||||||
Marketable securities | ||||||||||||||||||||||||||||||||
U.S. government and agencies | 978 | 5,056 | — | 6,034 | 3,752 | 6,596 | — | 10,348 | ||||||||||||||||||||||||
Non-U.S. government and agencies | — | 7,487 | — | 7,487 | — | 6,538 | — | 6,538 | ||||||||||||||||||||||||
Corporate debt | — | 2,685 | — | 2,685 | — | 2,623 | — | 2,623 | ||||||||||||||||||||||||
Equities | 328 | — | — | 328 | 341 | — | — | 341 | ||||||||||||||||||||||||
Other marketable securities | — | 342 | — | 342 | — | 307 | — | 307 | ||||||||||||||||||||||||
Total marketable securities | 1,306 | 15,570 | — | 16,876 | 4,093 | 16,064 | — | 20,157 | ||||||||||||||||||||||||
Derivative financial instruments (b) | — | 535 | 2 | 537 | — | 579 | 1 | 580 | ||||||||||||||||||||||||
Total assets at fair value | $ | 1,306 | $ | 16,203 | $ | 2 | $ | 17,511 | $ | 4,093 | $ | 16,876 | $ | 1 | $ | 20,970 | ||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||
Derivative financial instruments (b) | $ | — | $ | 697 | $ | 2 | $ | 699 | $ | — | $ | 416 | $ | 2 | $ | 418 | ||||||||||||||||
Total liabilities at fair value | $ | — | $ | 697 | $ | 2 | $ | 699 | $ | — | $ | 416 | $ | 2 | $ | 418 | ||||||||||||||||
Financial Services Sector | ||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Cash equivalents – financial instruments | ||||||||||||||||||||||||||||||||
U.S. government and agencies | $ | 40 | $ | — | $ | — | $ | 40 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Non-U.S. government and agencies | — | 341 | — | 341 | — | 24 | — | 24 | ||||||||||||||||||||||||
Corporate debt | — | 60 | — | 60 | — | — | — | — | ||||||||||||||||||||||||
Total cash equivalents (a) | 40 | 401 | — | 441 | — | 24 | — | 24 | ||||||||||||||||||||||||
Marketable securities | ||||||||||||||||||||||||||||||||
U.S. government and agencies | 341 | 1,222 | — | 1,563 | 418 | 25 | — | 443 | ||||||||||||||||||||||||
Non-U.S. government and agencies | — | 644 | — | 644 | — | 184 | — | 184 | ||||||||||||||||||||||||
Corporate debt | — | 1,525 | — | 1,525 | — | 1,273 | — | 1,273 | ||||||||||||||||||||||||
Other marketable securities | — | 35 | — | 35 | — | 43 | — | 43 | ||||||||||||||||||||||||
Total marketable securities | 341 | 3,426 | — | 3,767 | 418 | 1,525 | — | 1,943 | ||||||||||||||||||||||||
Derivative financial instruments (b) | — | 751 | — | 751 | — | 585 | — | 585 | ||||||||||||||||||||||||
Total assets at fair value | $ | 381 | $ | 4,578 | $ | — | $ | 4,959 | $ | 418 | $ | 2,134 | $ | — | $ | 2,552 | ||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||
Derivative financial instruments (b) | $ | — | $ | 291 | $ | — | $ | 291 | $ | — | $ | 506 | $ | — | $ | 506 | ||||||||||||||||
Total liabilities at fair value | $ | — | $ | 291 | $ | — | $ | 291 | $ | — | $ | 506 | $ | — | $ | 506 | ||||||||||||||||
__________ | ||||||||||||||||||||||||||||||||
(a) | Excludes time deposits, certificates of deposit, money market accounts, and other cash equivalents reported at par value on our balance sheet totaling $4.7 billion and $2.8 billion for Automotive sector and $4.2 billion and $6.7 billion for Financial Services sector at September 30, 2014 and December 31, 2013, respectively. In addition to these cash equivalents, we also had cash on hand totaling $1.2 billion and $2 billion for Automotive sector and $2.7 billion and $2.8 billion for Financial Services sector at September 30, 2014 and December 31, 2013, respectively. | |||||||||||||||||||||||||||||||
(b) | See Note 11 for additional information regarding derivative financial instruments. |
Finance_Receivables_Notes
Finance Receivables (Notes) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
Receivables [Abstract] | ' | |||||||||||||||||||||||
FINANCE RECEIVABLES | ' | |||||||||||||||||||||||
FINANCIAL SERVICES SECTOR FINANCE RECEIVABLES | ||||||||||||||||||||||||
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 our finance receivables into North America and International “consumer” and “non-consumer” portfolios. The receivables are generally secured by the vehicles, inventory, or other property being financed. | ||||||||||||||||||||||||
Finance receivables are recorded at the time of origination or purchase at fair value and are subsequently reported at amortized cost, net of any allowance for credit losses. | ||||||||||||||||||||||||
Consumer Portfolio. Receivables in this portfolio include products offered to individuals and businesses that finance the acquisition of Ford and Lincoln vehicles from dealers for personal or commercial use. Retail financing includes retail installment contracts for new and used vehicles and direct financing leases with retail customers, government entities, daily rental companies, and fleet customers. | ||||||||||||||||||||||||
Non-Consumer Portfolio. Receivables in this portfolio include products offered to automotive dealers. The products include: | ||||||||||||||||||||||||
• | Dealer financing – includes wholesale loans to dealers to finance the purchase of vehicle inventory, also known as floorplan financing, as well as loans to dealers to finance working capital and improvements to dealership facilities, finance the purchase of dealership real estate, and finance other dealer programs. Wholesale financing is approximately 94% of dealer financing | |||||||||||||||||||||||
• | Other – primarily related to the sale of parts and accessories to dealers | |||||||||||||||||||||||
NOTE 4. FINANCIAL SERVICES SECTOR FINANCE RECEIVABLES (Continued) | ||||||||||||||||||||||||
Finance receivables, net were as follows (in millions): | ||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
North | International | Total Finance Receivables | North | International | Total Finance Receivables | |||||||||||||||||||
America | America | |||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||
Retail financing, gross | $ | 43,537 | $ | 11,784 | $ | 55,321 | $ | 40,902 | $ | 10,797 | $ | 51,699 | ||||||||||||
Less: Unearned interest supplements | (1,511 | ) | (239 | ) | (1,750 | ) | (1,255 | ) | (247 | ) | (1,502 | ) | ||||||||||||
Consumer finance receivables | 42,026 | 11,545 | 53,571 | 39,647 | 10,550 | 50,197 | ||||||||||||||||||
Non-Consumer | ||||||||||||||||||||||||
Dealer financing | 21,454 | 8,779 | 30,233 | 22,072 | 7,833 | 29,905 | ||||||||||||||||||
Other | 748 | 310 | 1,058 | 732 | 339 | 1,071 | ||||||||||||||||||
Non-Consumer finance receivables | 22,202 | 9,089 | 31,291 | 22,804 | 8,172 | 30,976 | ||||||||||||||||||
Total recorded investment | $ | 64,228 | $ | 20,634 | $ | 84,862 | $ | 62,451 | $ | 18,722 | $ | 81,173 | ||||||||||||
Recorded investment in finance receivables | $ | 64,228 | $ | 20,634 | $ | 84,862 | $ | 62,451 | $ | 18,722 | $ | 81,173 | ||||||||||||
Less: Allowance for credit losses | (256 | ) | (69 | ) | (325 | ) | (280 | ) | (77 | ) | (357 | ) | ||||||||||||
Finance receivables, net (a) | $ | 63,972 | $ | 20,565 | $ | 84,537 | $ | 62,171 | $ | 18,645 | $ | 80,816 | ||||||||||||
Net finance receivables subject to fair value (b) | $ | 82,869 | $ | 79,149 | ||||||||||||||||||||
Fair value | 84,520 | 80,838 | ||||||||||||||||||||||
__________ | ||||||||||||||||||||||||
(a) | At September 30, 2014 and December 31, 2013, Finance receivables, net on the consolidated balance sheet were $79.9 billion and $77.5 billion, respectively. The balance is comprised of Financial Services sector finance receivables of $84.5 billion and $80.8 billion, respectively, net of $4.6 billion and $3.3 billion, respectively, of receivables purchased by Financial Services sector from Automotive sector, which are reclassified to Other receivables, net. | |||||||||||||||||||||||
(b) | At September 30, 2014 and December 31, 2013, excludes $1.7 billion and $1.7 billion, respectively, of certain receivables (primarily direct financing leases) that are not subject to fair value disclosure requirements. | |||||||||||||||||||||||
Excluded from finance receivables at September 30, 2014 and December 31, 2013, was $184 million and $196 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, 2014 and December 31, 2013 were North America consumer receivables of $19.3 billion and $21.8 billion and non-consumer receivables of $17.3 billion and $18.9 billion, respectively, and International consumer receivables of $4.7 billion and $5.9 billion and non-consumer receivables of $3.8 billion and $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 Ford Credit’s other creditors. Ford Credit holds the right to receive the excess cash flows not needed to pay the debt issued by, and other obligations of, the securitization entities that are parties to those securitization transactions (see Notes 7 and 10). | ||||||||||||||||||||||||
NOTE 4. FINANCIAL SERVICES SECTOR FINANCE RECEIVABLES (Continued) | ||||||||||||||||||||||||
Aging | ||||||||||||||||||||||||
For all finance receivables, we define “past due” as any payment, including principal and interest, that is at least 31 days past the contractual due date. The recorded investment of consumer receivables greater than 90 days past due and still accruing interest was $15 million and $14 million at September 30, 2014 and December 31, 2013, respectively. The recorded investment of non-consumer receivables greater than 90 days past due and still accruing interest was $3 million and $21 million at September 30, 2014 and December 31, 2013, respectively. | ||||||||||||||||||||||||
The aging analysis of our finance receivables balances were as follows (in millions): | ||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
North America | International | Total | North America | International | Total | |||||||||||||||||||
Consumer | ||||||||||||||||||||||||
31-60 days past due | $ | 583 | $ | 41 | $ | 624 | $ | 715 | $ | 39 | $ | 754 | ||||||||||||
61-90 days past due | 70 | 19 | 89 | 88 | 17 | 105 | ||||||||||||||||||
91-120 days past due | 17 | 9 | 26 | 18 | 9 | 27 | ||||||||||||||||||
Greater than 120 days past due | 40 | 22 | 62 | 37 | 26 | 63 | ||||||||||||||||||
Total past due | 710 | 91 | 801 | 858 | 91 | 949 | ||||||||||||||||||
Current | 41,316 | 11,454 | 52,770 | 38,789 | 10,459 | 49,248 | ||||||||||||||||||
Consumer finance receivables | 42,026 | 11,545 | 53,571 | 39,647 | 10,550 | 50,197 | ||||||||||||||||||
Non-Consumer | ||||||||||||||||||||||||
Total past due | 3 | 92 | 95 | 49 | 40 | 89 | ||||||||||||||||||
Current | 22,199 | 8,997 | 31,196 | 22,755 | 8,132 | 30,887 | ||||||||||||||||||
Non-Consumer finance receivables | 22,202 | 9,089 | 31,291 | 22,804 | 8,172 | 30,976 | ||||||||||||||||||
Total recorded investment | $ | 64,228 | $ | 20,634 | $ | 84,862 | $ | 62,451 | $ | 18,722 | $ | 81,173 | ||||||||||||
Credit Quality | ||||||||||||||||||||||||
Consumer Portfolio. 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 retail financing 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 consumer receivables are based on aging. Refer to the aging table above. | ||||||||||||||||||||||||
Consumer receivables credit quality ratings are as follows: | ||||||||||||||||||||||||
• | Pass – current to 60 days past due | |||||||||||||||||||||||
• | Special Mention – 61 to 120 days past due and in intensified collection status | |||||||||||||||||||||||
• | Substandard – greater than 120 days past due and for which the uncollectible portion of the receivables has already been charged-off, as measured using the fair value of collateral | |||||||||||||||||||||||
NOTE 4. FINANCIAL SERVICES SECTOR FINANCE RECEIVABLES (Continued) | ||||||||||||||||||||||||
Non-Consumer Portfolio. 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 of the dealer’s operations 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 risk ratings as follows: | ||||||||||||||||||||||||
• | Group I – strong to superior financial metrics | |||||||||||||||||||||||
• | Group II – fair to favorable financial metrics | |||||||||||||||||||||||
• | Group III – marginal to weak financial metrics | |||||||||||||||||||||||
• | Group IV – poor financial metrics, including dealers classified as uncollectible | |||||||||||||||||||||||
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 factors such as the dealer’s risk rating and our security position. Under our policies, on-site vehicle inventory audits of low-risk dealers are conducted only as circumstances warrant. Audits of higher-risk dealers are conducted with increased frequency based on risk ratings and our security position. We perform a credit review of each dealer at least annually and adjust the dealer’s risk rating, if necessary. | ||||||||||||||||||||||||
The credit quality of dealer financing 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 was as follows (in millions): | ||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
North America | International | Total | North America | International | Total | |||||||||||||||||||
Dealer Financing | ||||||||||||||||||||||||
Group I | $ | 18,254 | $ | 4,325 | $ | 22,579 | $ | 18,357 | $ | 5,051 | $ | 23,408 | ||||||||||||
Group II | 2,941 | 3,073 | 6,014 | 3,289 | 2,092 | 5,381 | ||||||||||||||||||
Group III | 252 | 1,298 | 1,550 | 424 | 649 | 1,073 | ||||||||||||||||||
Group IV | 7 | 83 | 90 | 2 | 41 | 43 | ||||||||||||||||||
Total recorded investment | $ | 21,454 | $ | 8,779 | $ | 30,233 | $ | 22,072 | $ | 7,833 | $ | 29,905 | ||||||||||||
NOTE 4. FINANCIAL SERVICES SECTOR FINANCE RECEIVABLES (Continued) | ||||||||||||||||||||||||
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, 2014 and December 31, 2013 was $421 million, or 0.8% of consumer receivables, and $435 million, or 0.9% of consumer receivables, respectively. The recorded investment of non-consumer receivables that were impaired at September 30, 2014 and December 31, 2013 was $115 million, or 0.4% of non-consumer receivables, and $71 million, or 0.2% of non-consumer receivables, respectively. Impaired finance receivables are evaluated both collectively and specifically. See Note 5 for additional information related to the development of our allowance for credit losses. | ||||||||||||||||||||||||
The accrual of revenue is discontinued at the time a receivable is determined to be uncollectible. Accounts may be restored to accrual status only when a customer settles all past-due deficiency balances and future payments are reasonably assured. For receivables in non-accrual status, subsequent financing revenue is recognized only to the extent a payment is received. Payments are generally applied first to outstanding interest and then to the unpaid principal balance. | ||||||||||||||||||||||||
A restructuring of debt constitutes a TDR if we grant a concession to a debtor for economic or legal reasons related to the debtor’s financial difficulties that we otherwise would not consider. Consumer and non-consumer receivables that have a modified interest rate below market rate or that were modified in reorganization proceedings pursuant to the U.S. Bankruptcy Code, except non-consumer receivables that are current with minimal risk of loss, are considered to be TDRs. We do not grant concessions on the principal balance of our receivables. If a receivable is modified in a reorganization proceeding, all payment requirements of the reorganization plan need to be met before remaining balances are forgiven. Finance receivables involved in TDRs are specifically assessed for impairment. |
Allowance_for_Credit_Losses_No
Allowance for Credit Losses (Notes) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
Allowance For Credit Losses [Abstract] | ' | |||||||||||||||||||||||
ALLOWANCE FOR CREDIT LOSSES | ' | |||||||||||||||||||||||
FINANCIAL SERVICES SECTOR ALLOWANCE FOR CREDIT LOSSES | ||||||||||||||||||||||||
An analysis of the allowance for credit losses related to finance receivables for the periods ended September 30 (in millions) is as follows: | ||||||||||||||||||||||||
Third Quarter 2014 | First Nine Months 2014 | |||||||||||||||||||||||
Consumer | Non-Consumer | Total | Consumer | Non-Consumer | Total | |||||||||||||||||||
Allowance for credit losses | ||||||||||||||||||||||||
Beginning balance | $ | 303 | $ | 24 | $ | 327 | $ | 327 | $ | 30 | $ | 357 | ||||||||||||
Charge-offs | (67 | ) | (2 | ) | (69 | ) | (200 | ) | (7 | ) | (207 | ) | ||||||||||||
Recoveries | 33 | 2 | 35 | 101 | 8 | 109 | ||||||||||||||||||
Provision for credit losses | 42 | (3 | ) | 39 | 82 | (10 | ) | 72 | ||||||||||||||||
Other (a) | (6 | ) | (1 | ) | (7 | ) | (5 | ) | (1 | ) | (6 | ) | ||||||||||||
Ending balance | $ | 305 | $ | 20 | $ | 325 | $ | 305 | $ | 20 | $ | 325 | ||||||||||||
Analysis of ending balance of allowance for credit losses | ||||||||||||||||||||||||
Collective impairment allowance | $ | 283 | $ | 19 | $ | 302 | ||||||||||||||||||
Specific impairment allowance | 22 | 1 | 23 | |||||||||||||||||||||
Ending balance | 305 | 20 | 325 | |||||||||||||||||||||
Analysis of ending balance of finance receivables | ||||||||||||||||||||||||
Collectively evaluated for impairment | 53,150 | 31,176 | 84,326 | |||||||||||||||||||||
Specifically evaluated for impairment | 421 | 115 | 536 | |||||||||||||||||||||
Recorded investment | 53,571 | 31,291 | 84,862 | |||||||||||||||||||||
Ending balance, net of allowance for credit losses | $ | 53,266 | $ | 31,271 | $ | 84,537 | ||||||||||||||||||
__________ | ||||||||||||||||||||||||
(a) | Primarily represents amounts related to translation adjustments. | |||||||||||||||||||||||
Third Quarter 2013 | First Nine Months 2013 | |||||||||||||||||||||||
Consumer | Non-Consumer | Total | Consumer | Non-Consumer | Total | |||||||||||||||||||
Allowance for credit losses | ||||||||||||||||||||||||
Beginning balance | $ | 324 | $ | 31 | $ | 355 | $ | 360 | $ | 29 | $ | 389 | ||||||||||||
Charge-offs | (71 | ) | (3 | ) | (74 | ) | (212 | ) | (13 | ) | (225 | ) | ||||||||||||
Recoveries | 32 | 1 | 33 | 109 | 4 | 113 | ||||||||||||||||||
Provision for credit losses | 32 | (1 | ) | 31 | 65 | 8 | 73 | |||||||||||||||||
Other (a) | 3 | 1 | 4 | (2 | ) | 1 | (1 | ) | ||||||||||||||||
Ending balance | $ | 320 | $ | 29 | $ | 349 | $ | 320 | $ | 29 | $ | 349 | ||||||||||||
Analysis of ending balance of allowance for credit losses | ||||||||||||||||||||||||
Collective impairment allowance | $ | 298 | $ | 27 | $ | 325 | ||||||||||||||||||
Specific impairment allowance | 22 | 2 | 24 | |||||||||||||||||||||
Ending balance | 320 | 29 | 349 | |||||||||||||||||||||
Analysis of ending balance of finance receivables | ||||||||||||||||||||||||
Collectively evaluated for impairment | 48,897 | 28,991 | 77,888 | |||||||||||||||||||||
Specifically evaluated for impairment | 424 | 58 | 482 | |||||||||||||||||||||
Recorded investment | 49,321 | 29,049 | 78,370 | |||||||||||||||||||||
Ending balance, net of allowance for credit losses | $ | 49,001 | $ | 29,020 | $ | 78,021 | ||||||||||||||||||
__________ | ||||||||||||||||||||||||
(a) | Primarily represents amounts related to translation adjustments. |
Inventories_Notes
Inventories (Notes) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
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 28% and 20% of total inventories at September 30, 2014 and December 31, 2013, 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, | |||||||
2014 | 2013 | |||||||
Raw materials, work-in-process, and supplies | $ | 4,199 | $ | 3,628 | ||||
Finished products | 6,126 | 5,081 | ||||||
Total inventories under FIFO | 10,325 | 8,709 | ||||||
LIFO adjustment | (1,029 | ) | (1,001 | ) | ||||
Total inventories | $ | 9,296 | $ | 7,708 | ||||
Variable_Interest_Entities_Not
Variable Interest Entities (Notes) | 9 Months Ended |
Sep. 30, 2014 | |
Variable Interest Entities [Abstract] | ' |
VARIABLE INTEREST ENTITIES | ' |
VARIABLE INTEREST ENTITIES | |
VIEs of Which We are Not the Primary Beneficiary | |
We have invested in joint ventures that are VIEs and in which the power to direct economically significant activities is shared with the joint venture partner. Our investments in the joint ventures are accounted for as equity method investments. Our maximum exposure to any potential losses associated with these joint ventures is limited to our investment, including loans, and was $330 million and $336 million at September 30, 2014 and December 31, 2013, respectively. | |
VIEs of Which We are the Primary Beneficiary | |
Through Ford Credit, we securitize, transfer, and service financial assets associated with consumer finance receivables, operating leases, and wholesale loans. Our securitization transactions typically involve the legal transfer of financial assets to bankruptcy remote special purpose entities. The third-party investors in these securitization entities have legal recourse only to the assets securing the debt and do not have recourse to us, except for the customary representation and warranty provisions. In addition, the cash flows generated by the assets are restricted only to pay such liabilities. We generally retain economic interests in the asset-backed securitization transactions, which are retained in the form of senior or subordinated interests, cash reserve accounts, residual interests, and servicing rights. For accounting purposes, we are precluded from recording the transfers of assets in securitization transactions as sales. | |
In most cases, the bankruptcy remote special purpose entities meet the definition of VIEs for which we have determined we have both the power to direct the activities of the entity that most significantly impact the entity’s performance and the obligation to absorb losses or the right to receive benefits of the entity that could be significant, and would therefore also be consolidated. We account for all securitization transactions as if they were secured financing and therefore the assets, liabilities and related activity of these VIEs are consolidated in our financial results and are included in amounts presented on the face of our consolidated balance sheet and in the related footnotes. |
Other_Liabilities_and_Deferred
Other Liabilities and Deferred Revenue (Notes) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
ACCRUED LIABILITIES AND DEFERRED REVENUE [Abstract] | ' | |||||||
Accrued Liabilities and Deferred Revenue Disclosure [Text Block] | ' | |||||||
OTHER LIABILITIES AND DEFERRED REVENUE | ||||||||
Other liabilities and deferred revenue were as follows (in millions): | ||||||||
September 30, | December 31, | |||||||
2014 | 2013 | |||||||
Automotive Sector | ||||||||
Current | ||||||||
Dealer and dealers’ customer allowances and claims | $ | 7,856 | $ | 7,730 | ||||
Deferred revenue | 4,272 | 2,817 | ||||||
Employee benefit plans | 1,985 | 1,706 | ||||||
Accrued interest | 182 | 262 | ||||||
Other postretirement employee benefits (“OPEB”) | 383 | 387 | ||||||
Pension (a) | 338 | 327 | ||||||
Other | 3,238 | 3,308 | ||||||
Total Automotive other liabilities and deferred revenue | 18,254 | 16,537 | ||||||
Non-current | ||||||||
Pension (a) | 8,036 | 9,288 | ||||||
OPEB | 5,403 | 5,502 | ||||||
Dealer and dealers’ customer allowances and claims | 2,591 | 2,028 | ||||||
Deferred revenue | 2,622 | 2,534 | ||||||
Employee benefit plans | 1,183 | 1,213 | ||||||
Other | 1,355 | 1,524 | ||||||
Total Automotive other liabilities and deferred revenue | 21,190 | 22,089 | ||||||
Total Automotive sector | 39,444 | 38,626 | ||||||
Financial Services Sector | 1,963 | 2,260 | ||||||
Total | $ | 41,407 | $ | 40,886 | ||||
__________ | ||||||||
(a) | Balances at September 30, 2014 reflect net pension liabilities at December 31, 2013, updated for service and interest cost, expected return on assets, separation expense, actual benefit payments, and cash contributions. The discount rate and rate of expected return assumptions are unchanged from year-end 2013. |
Retirement_Benefits_Notes
Retirement Benefits (Notes) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||||||||||
RETIREMENT BENEFITS | ' | |||||||||||||||||||||||
RETIREMENT BENEFITS | ||||||||||||||||||||||||
Defined Benefit Plans - Expense | ||||||||||||||||||||||||
The pre-tax expense for our defined benefit pension and OPEB plans for the periods ended September 30 was as follows (in millions): | ||||||||||||||||||||||||
Third Quarter | ||||||||||||||||||||||||
Pension Benefits | ||||||||||||||||||||||||
U.S. Plans | Non-U.S. Plans | Worldwide OPEB | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Service cost | $ | 127 | $ | 140 | $ | 118 | $ | 119 | $ | 13 | $ | 16 | ||||||||||||
Interest cost | 498 | 479 | 302 | 280 | 68 | 63 | ||||||||||||||||||
Expected return on assets | (678 | ) | (685 | ) | (383 | ) | (339 | ) | — | — | ||||||||||||||
Amortization of: | ||||||||||||||||||||||||
Prior service costs/(credits) | 38 | 44 | 15 | 16 | (58 | ) | (71 | ) | ||||||||||||||||
(Gains)/Losses | 52 | 136 | 149 | 170 | 24 | 39 | ||||||||||||||||||
Separation programs/other | 8 | 1 | 15 | 69 | 1 | 2 | ||||||||||||||||||
Recognition of (gains)/losses due to: | ||||||||||||||||||||||||
Curtailments | — | — | — | — | — | (2 | ) | |||||||||||||||||
Settlements | — | 145 | — | — | — | — | ||||||||||||||||||
Total expense/(income) | $ | 45 | $ | 260 | $ | 216 | $ | 315 | $ | 48 | $ | 47 | ||||||||||||
First Nine Months | ||||||||||||||||||||||||
Pension Benefits | ||||||||||||||||||||||||
U.S. Plans | Non-U.S. Plans | Worldwide OPEB | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Service cost | $ | 380 | $ | 443 | $ | 356 | $ | 360 | $ | 40 | $ | 48 | ||||||||||||
Interest cost | 1,494 | 1,434 | 904 | 847 | 202 | 192 | ||||||||||||||||||
Expected return on assets | (2,034 | ) | (2,133 | ) | (1,145 | ) | (1,029 | ) | — | — | ||||||||||||||
Amortization of: | ||||||||||||||||||||||||
Prior service costs/(credits) | 116 | 131 | 42 | 49 | (172 | ) | (213 | ) | ||||||||||||||||
(Gains)/Losses | 155 | 526 | 445 | 513 | 73 | 119 | ||||||||||||||||||
Separation programs/other | 9 | 5 | 54 | 220 | 1 | 2 | ||||||||||||||||||
Recognition of (gains)/losses due to: | ||||||||||||||||||||||||
Curtailments | — | — | — | — | — | (2 | ) | |||||||||||||||||
Settlements | — | 439 | 14 | — | — | — | ||||||||||||||||||
Total expense/(income) | $ | 120 | $ | 845 | $ | 670 | $ | 960 | $ | 144 | $ | 146 | ||||||||||||
Pension Plan Contributions | ||||||||||||||||||||||||
In 2014, we expect to contribute $1.5 billion from Automotive cash and cash equivalents to our worldwide funded pension plans (most of which are mandatory contributions), and to make $400 million of benefit payments to participants in unfunded plans, for a total of $1.9 billion. In the first nine months of 2014, we contributed $1.1 billion to our worldwide funded pension plans and made about $300 million of benefit payments to participants in unfunded plans. |
Debt_and_Commitments_Notes
Debt and Commitments (Notes) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
DEBT AND COMMITMENTS | ' | |||||||
DEBT | ||||||||
The carrying value of debt was $119.2 billion and $114.7 billion at September 30, 2014 and December 31, 2013, respectively. The following table details the carrying value of our debt by Automotive sector and Financial Services sector (in millions): | ||||||||
Automotive Sector | September 30, | December 31, | ||||||
2014 | 2013 | |||||||
Debt payable within one year | ||||||||
Short-term | $ | 535 | $ | 562 | ||||
Long-term payable within one year | ||||||||
U.S. Department of Energy (“DOE”) Advanced Technology Vehicles Manufacturing (“ATVM”) Incentive Program | 591 | 591 | ||||||
European Investment Bank (“EIB”) loans | 1,231 | — | ||||||
Unamortized (discount)/premium | 3 | — | ||||||
Other debt | 367 | 104 | ||||||
Total debt payable within one year | 2,727 | 1,257 | ||||||
Long-term debt payable after one year | ||||||||
Public unsecured debt securities | 6,634 | 6,799 | ||||||
Unamortized (discount)/premium | (145 | ) | (148 | ) | ||||
Convertible notes | 883 | 908 | ||||||
Unamortized (discount)/premium | (82 | ) | (110 | ) | ||||
DOE ATVM Incentive Program | 3,981 | 4,424 | ||||||
EIB loans | — | 1,295 | ||||||
Other debt | 947 | 1,255 | ||||||
Unamortized (discount)/premium | (2 | ) | 3 | |||||
Total long-term debt payable after one year | 12,216 | 14,426 | ||||||
Total Automotive sector | $ | 14,943 | $ | 15,683 | ||||
Fair value of Automotive sector debt (a) | $ | 17,181 | $ | 17,301 | ||||
Financial Services Sector | ||||||||
Short-term debt | ||||||||
Floating rate demand notes | $ | 5,689 | $ | 5,319 | ||||
Commercial paper | 2,137 | 2,003 | ||||||
Other short-term debt | 2,935 | 2,345 | ||||||
Asset-backed commercial paper | — | 3,364 | ||||||
Other asset-backed short-term debt | 1,375 | 1,963 | ||||||
Total short-term debt | 12,136 | 14,994 | ||||||
Long-term debt | ||||||||
Unsecured debt | ||||||||
Notes payable within one year | 9,361 | 4,475 | ||||||
Notes payable after one year | 41,189 | 38,914 | ||||||
Asset-backed debt | ||||||||
Notes payable within one year | 16,577 | 17,337 | ||||||
Notes payable after one year | 24,820 | 23,273 | ||||||
Unamortized (discount)/premium | (61 | ) | (91 | ) | ||||
Fair value adjustments (b) | 228 | 103 | ||||||
Total long-term debt | 92,114 | 84,011 | ||||||
Total Financial Services sector | $ | 104,250 | $ | 99,005 | ||||
Fair value of Financial Services sector debt (a) | $ | 107,094 | $ | 102,399 | ||||
__________ | ||||||||
(a) | The fair value of debt includes $279 million and $377 million of Automotive sector short-term debt and $10.8 billion and $9.7 billion of Financial Services sector short-term debt at September 30, 2014 and December 31, 2013, respectively, carried at cost which approximates fair value. All debt is categorized within Level 2 of the fair value hierarchy. | |||||||
(b) | Adjustments related to designated fair value hedges of unsecured debt. |
Derivative_Financial_Instrumen
Derivative Financial Instruments and Hedging Activities (Notes) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
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. 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. | ||||||||||||||||||||||||
Income Effect of Derivative Financial Instruments | ||||||||||||||||||||||||
The following table summarizes by hedge designation the pre-tax gains/(losses) recorded in income for the periods ended September 30 (in millions): | ||||||||||||||||||||||||
Third Quarter | First Nine Months | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Automotive Sector | ||||||||||||||||||||||||
Cash flow hedges (a) | ||||||||||||||||||||||||
Reclassified from AOCI to income | $ | (61 | ) | $ | 23 | $ | 99 | $ | (105 | ) | ||||||||||||||
Derivatives not designated as hedging instruments | ||||||||||||||||||||||||
Foreign currency exchange contracts | 168 | (24 | ) | 107 | 21 | |||||||||||||||||||
Commodity contracts | (28 | ) | 8 | 7 | (67 | ) | ||||||||||||||||||
Total | $ | 79 | $ | 7 | $ | 213 | $ | (151 | ) | |||||||||||||||
Financial Services Sector | ||||||||||||||||||||||||
Fair value hedges | ||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Net interest settlements and accruals excluded from the assessment of hedge effectiveness | $ | 79 | $ | 63 | $ | 220 | $ | 186 | ||||||||||||||||
Ineffectiveness (b) | (2 | ) | (3 | ) | 8 | (33 | ) | |||||||||||||||||
Derivatives not designated as hedging instruments | ||||||||||||||||||||||||
Interest rate contracts | (10 | ) | (19 | ) | (37 | ) | (25 | ) | ||||||||||||||||
Foreign currency exchange contracts | 52 | (55 | ) | 22 | 37 | |||||||||||||||||||
Cross-currency interest rate swap contracts | 118 | (131 | ) | 102 | (37 | ) | ||||||||||||||||||
Total | $ | 237 | $ | (145 | ) | $ | 315 | $ | 128 | |||||||||||||||
__________ | ||||||||||||||||||||||||
(a) | For the third quarter and first nine months of 2014, a $128 million loss and a $336 million loss, respectively, were recorded in OCI. For the third quarter and first nine months of 2013, a $126 million loss and a $169 million gain, respectively, were recorded in OCI. | |||||||||||||||||||||||
(b) | For the third quarter and first nine months of 2014, hedge ineffectiveness reflects the net change in fair value on derivatives of $88 million loss and $179 million gain, respectively, and change in value on hedged debt attributable to the change in benchmark interest rate of $86 million gain and $171 million loss, respectively. For the third quarter and first nine months of 2013, hedge ineffectiveness reflects the net 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 11. 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). Derivatives are recorded on the balance sheet at fair value and presented on a gross basis. | ||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
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 and commodity contracts | $ | 17,205 | $ | 233 | $ | 492 | $ | 16,238 | $ | 413 | $ | 189 | ||||||||||||
Derivatives not designated as hedging instruments | ||||||||||||||||||||||||
Foreign currency exchange contracts | 13,406 | 291 | 186 | 11,599 | 144 | 210 | ||||||||||||||||||
Commodity contracts | 675 | 13 | 21 | 3,006 | 23 | 19 | ||||||||||||||||||
Total derivative value, gross | $ | 31,286 | 537 | 699 | $ | 30,843 | 580 | 418 | ||||||||||||||||
Derivative value eligible for offset | (480 | ) | (480 | ) | (359 | ) | (359 | ) | ||||||||||||||||
Total derivative value, net | $ | 57 | $ | 219 | $ | 221 | $ | 59 | ||||||||||||||||
Financial Services Sector | ||||||||||||||||||||||||
Fair value hedges | ||||||||||||||||||||||||
Interest rate contracts | $ | 22,943 | $ | 424 | $ | 157 | $ | 18,778 | $ | 360 | $ | 179 | ||||||||||||
Derivatives not designated as hedging instruments | ||||||||||||||||||||||||
Interest rate contracts | 56,607 | 254 | 78 | 69,863 | 224 | 126 | ||||||||||||||||||
Foreign currency exchange contracts | 2,324 | 56 | 12 | 2,410 | 1 | 25 | ||||||||||||||||||
Cross-currency interest rate swap contracts | 2,513 | 17 | 44 | 2,620 | — | 176 | ||||||||||||||||||
Total derivative value, gross | $ | 84,387 | 751 | 291 | $ | 93,671 | 585 | 506 | ||||||||||||||||
Derivative value eligible for offset | (240 | ) | (240 | ) | (296 | ) | (296 | ) | ||||||||||||||||
Total derivative value, net | $ | 511 | $ | 51 | $ | 289 | $ | 210 | ||||||||||||||||
Notional amounts are presented on a gross basis. 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. 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. |
Redeemable_Noncontrolling_Inte
Redeemable Noncontrolling Interest (Notes) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
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 owns an automobile assembly plant in Flat Rock, Michigan. On September 1, 2012, we granted to Mazda a put option to sell and received from Mazda a call option to purchase 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. As a result of an amendment in the second quarter of 2014, the Option is now exercisable by Ford or Mazda during a three-year period commencing in the fourth quarter of 2014, instead of September 1, 2015. The change in timing does not change the Option exercise price. The following table summarizes the change in our carrying value of the redeemable noncontrolling interest for the periods ended September 30 (in millions): | ||||||||
First Nine Months | ||||||||
2014 | 2013 | |||||||
Beginning balance | $ | 331 | $ | 322 | ||||
Accretion to the redemption value of noncontrolling interest (a) | 11 | 7 | ||||||
Payments (b) | (3 | ) | — | |||||
Ending balance | $ | 339 | $ | 329 | ||||
__________ | ||||||||
(a) | For the first nine months of 2014 and 2013, respectively, $7 million and $7 million were recognized in Interest expense and $4 million and $0 were recognized in Income/(Loss) attributable to noncontrolling interests. | |||||||
(b) | Represents a return of Mazda’s investment in AAI that we are contractually obligated to pay as long as Mazda retains its ownership in AAI. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income/(Loss) (Notes) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||||||||
Comprehensive Income (Loss) Note [Text Block] | ' | |||||||||||||||
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): | ||||||||||||||||
Third Quarter | First Nine Months | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Foreign currency translation | ||||||||||||||||
Beginning balance | $ | (1,664 | ) | $ | (2,041 | ) | $ | (1,746 | ) | $ | (1,245 | ) | ||||
Gains/(Losses) on foreign currency translation | (550 | ) | 210 | (434 | ) | (594 | ) | |||||||||
Less: Tax/(Tax benefit) | — | — | 53 | — | ||||||||||||
Net gains/(losses) on foreign currency translation | (550 | ) | 210 | (487 | ) | (594 | ) | |||||||||
(Gains)/Losses reclassified from AOCI to income (a) | — | 103 | 19 | 111 | ||||||||||||
Other comprehensive income/(loss), net of tax | (550 | ) | 313 | (468 | ) | (483 | ) | |||||||||
Ending balance | $ | (2,214 | ) | $ | (1,728 | ) | $ | (2,214 | ) | $ | (1,728 | ) | ||||
Derivative instruments (b) | ||||||||||||||||
Beginning balance | $ | (155 | ) | $ | 111 | $ | 40 | $ | (175 | ) | ||||||
Gains/(Losses) on derivative instruments | (128 | ) | (126 | ) | (336 | ) | 169 | |||||||||
Less: Tax/(Tax benefit) | (35 | ) | (42 | ) | (125 | ) | 52 | |||||||||
Net gains/(losses) on derivative instruments | (93 | ) | (84 | ) | (211 | ) | 117 | |||||||||
(Gains)/Losses reclassified from AOCI to income | 61 | (23 | ) | (99 | ) | 102 | ||||||||||
Less: Tax/(Tax benefit) | 16 | (12 | ) | (67 | ) | 28 | ||||||||||
Net gains/(losses) reclassified from AOCI to net income (c) | 45 | (11 | ) | (32 | ) | 74 | ||||||||||
Other comprehensive income/(loss), net of tax | (48 | ) | (95 | ) | (243 | ) | 191 | |||||||||
Ending balance | $ | (203 | ) | $ | 16 | $ | (203 | ) | $ | 16 | ||||||
Pension and other postretirement benefits | ||||||||||||||||
Beginning balance | $ | (16,288 | ) | $ | (19,907 | ) | $ | (16,524 | ) | $ | (21,438 | ) | ||||
Gains/(Losses) arising during the period | — | 75 | (13 | ) | 769 | |||||||||||
Less: Tax/(Tax benefit) | — | 35 | (5 | ) | 271 | |||||||||||
Net gains/(losses) arising during the period | — | 40 | (8 | ) | 498 | |||||||||||
Amortization of prior service costs/(credits) (d) | (5 | ) | (11 | ) | (14 | ) | (33 | ) | ||||||||
Amortization of (gains)/losses (d) | 225 | 345 | 673 | 1,158 | ||||||||||||
Recognition of (gains)/losses due to curtailments (d) | — | (2 | ) | — | (2 | ) | ||||||||||
Recognition of (gains)/losses due to settlements (d) | — | 145 | 14 | 439 | ||||||||||||
Less: Tax/(Tax benefit) | 52 | 120 | 185 | 460 | ||||||||||||
Net amortization and (gains)/losses reclassified from AOCI | 168 | 357 | 488 | 1,102 | ||||||||||||
to net income | ||||||||||||||||
Translation impact on non-U.S. plans | 372 | (288 | ) | 296 | 40 | |||||||||||
Other comprehensive income/(loss), net of tax | 540 | 109 | 776 | 1,640 | ||||||||||||
Ending balance | $ | (15,748 | ) | $ | (19,798 | ) | $ | (15,748 | ) | $ | (19,798 | ) | ||||
Total AOCI ending balance at September 30 | $ | (18,165 | ) | $ | (21,510 | ) | $ | (18,165 | ) | $ | (21,510 | ) | ||||
__________ | ||||||||||||||||
(a) | Accumulated translation adjustments related to investments in foreign subsidiaries are reclassified to Automotive interest income and other income/(loss), net, Financial Services other income/(loss), net, or Equity in net income of affiliated companies. | |||||||||||||||
(b) | We expect to reclassify existing net losses of $206 million from Accumulated other comprehensive income/(loss) to Automotive cost of sales during the next twelve months as the underlying exposures are realized. | |||||||||||||||
(c) | Gains/(losses) on cash flow hedges are reclassified from AOCI to income when the hedged item affects earnings and is recognized in Automotive cost of sales. | |||||||||||||||
(d) | These AOCI components are included in the computation of total pension and OPEB expense and are recorded in Automotive cost of sales and Selling, administrative and other expenses. See Note 9 for additional information. |
Other_Income_Loss_Notes
Other Income (Loss) (Notes) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
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 | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Investment-related interest income | $ | 65 | $ | 38 | $ | 145 | $ | 125 | ||||||||
Interest income/(expense) on income taxes | (3 | ) | — | 34 | — | |||||||||||
Realized and unrealized gains/(losses) on cash equivalents and marketable securities | 7 | 67 | 7 | 147 | ||||||||||||
Gains/(Losses) on changes in investments in affiliates | — | (104 | ) | 1 | (114 | ) | ||||||||||
Gains/(Losses) on extinguishment of debt | — | — | (5 | ) | (18 | ) | ||||||||||
Royalty income | 142 | 148 | 444 | 409 | ||||||||||||
Other | 44 | 51 | 113 | 137 | ||||||||||||
Total | $ | 255 | $ | 200 | $ | 739 | $ | 686 | ||||||||
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 | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Investment-related interest income | $ | 14 | $ | 12 | $ | 35 | $ | 40 | ||||||||
Interest income/(expense) on income taxes | 1 | — | (9 | ) | — | |||||||||||
Realized and unrealized gains/(losses) on cash equivalents and marketable securities | (1 | ) | 5 | 7 | (2 | ) | ||||||||||
Insurance premiums earned | 31 | 28 | 94 | 87 | ||||||||||||
Other | 45 | 55 | 118 | 145 | ||||||||||||
Total | $ | 90 | $ | 100 | $ | 245 | $ | 270 | ||||||||
Employee_Separation_Actions_an
Employee Separation Actions and Exit and Disposal Activities (Notes) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
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. | ||||||||||||||||
Automotive Sector | ||||||||||||||||
Business Restructuring - Europe | ||||||||||||||||
In October 2012, we committed to commence a transformation plan for our Europe operations. As part of this plan, we closed two manufacturing facilities in the United Kingdom in 2013 and are in the process of closing our assembly plant in Genk, Belgium at the end of 2014. The Genk closure was subject to an information and consultation process with employee representatives, which was completed in June 2013. The costs related to these closures were recorded beginning in the second quarter of 2013. | ||||||||||||||||
NOTE 15. EMPLOYEE SEPARATION ACTIONS AND EXIT AND DISPOSAL ACTIVITIES (Continued) | ||||||||||||||||
Separation-related costs, recorded in Automotive cost of sales and Selling, administrative and other expenses, include both the costs associated with voluntary separation programs in the United Kingdom and involuntary employee actions at Genk, as well as payments to suppliers. The following table summarizes the separation-related activity recorded in Other liabilities and deferred revenue, for the periods ended September 30 (in millions): | ||||||||||||||||
Third Quarter | First Nine Months | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Beginning balance | $ | 643 | $ | 287 | $ | 497 | $ | — | ||||||||
Changes in accruals (a) | 146 | 196 | 365 | 483 | ||||||||||||
Payments | (30 | ) | (93 | ) | (99 | ) | (95 | ) | ||||||||
Foreign currency translation | (57 | ) | 11 | (61 | ) | 13 | ||||||||||
Ending balance | $ | 702 | $ | 401 | $ | 702 | $ | 401 | ||||||||
__________ | ||||||||||||||||
(a) | Excludes $6 million and $18 million for the third quarter and first nine months of 2014, respectively, and $48 million and $180 million for the third quarter and first nine months of 2013, respectively, of pension related costs. | |||||||||||||||
Our current estimate of total separation-related costs for the U.K. and Genk facilities is approximately $1.1 billion, excluding approximately $200 million of pension-related costs. The separation-related costs not yet recorded will be expensed as the employees and suppliers continue to support Genk plant operations. |
Income_Taxes_Notes
Income Taxes (Notes) | 9 Months Ended |
Sep. 30, 2014 | |
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. | |
During the third quarter of 2014, we recorded tax benefits of $245 million resulting from a change in our methodology for measuring currency gains and losses in computing earnings of Ford Credit’s European operations under U.S. law, as well as changes to tax depreciation related to assets used in our Automotive export operations. Implementation of the change in methodology for measuring currency gains and losses substantially reduced the accumulated earnings of Ford Credit’s European operations under U.S. tax law and resulted in the realization of additional foreign tax credits. As a result of this reduction in accumulated tax earnings, our measure of earnings indefinitely reinvested in operations outside the United States is substantially reduced as it is based on accumulated earnings determined under U.S. tax law. Our cash repatriation plans remain unchanged. |
Changes_in_Investments_in_Affi
Changes in Investments in Affiliates and Assets Held for Sale (Notes) | 9 Months Ended |
Sep. 30, 2014 | |
Changes in Investments and Assets Held for Sale [Abstract] | ' |
Changes in Investments in Affiliates and Assets Held for Sale [Text Block] | ' |
CHANGES IN INVESTMENTS IN AFFILIATES AND ASSETS HELD FOR SALE | |
Automotive Sector | |
Changes in Investments in Affiliates | |
Impairment of Equity in Net Assets of Affiliates. During the second quarter of 2014, we recorded a $329 million pre-tax impairment for our Ford Sollers joint venture as a result of factors in the Russian market including a weaker ruble, lower industry volume, and industry segmentation changes that negatively impacted the sales of Focus. These factors reduced our expected cash flows for Ford Sollers in the near-term, thereby reducing the investment’s fair value. The non-cash charge was reported in Equity in net income of affiliated companies. | |
We measured the fair value of our equity in net assets of Ford Sollers using a discounted cash flow analysis. We used cash flows that reflect Ford Sollers present plan, aligned with assumptions a market participant would have made. We assumed a discount rate of 15% based on the appropriate weighted average cost of capital, adjusted for perceived business risks related to regulatory concerns, political tensions, foreign exchange volatility, and risk associated with the Russian automotive industry. | |
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. | |
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. |
Capital_Stock_and_Amounts_Per_
Capital Stock and Amounts Per Share (Notes) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Stockholders' Equity Note [Abstract] | ' | |||||||||||||||
CAPITAL STOCK AND AMOUNTS PER SHARE | ' | |||||||||||||||
CAPITAL STOCK AND AMOUNTS PER SHARE | ||||||||||||||||
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. | ||||||||||||||||
Share Repurchase Program | ||||||||||||||||
In August 2014, we completed our repurchase program for approximately 116 million shares of Ford Common Stock, or 3% of diluted shares. Approximately 12.6 million shares were repurchased to offset the dilutive effect of share-based employee incentive compensation granted in 2014. In addition, approximately 103 million shares were repurchased to offset the dilutive effect of our 4.25% Senior Convertible Notes due November 15, 2016, as well as to offset the increase in outstanding shares that would result from settling conversions with shares. On October 21, 2014, we announced that we have elected to terminate holders’ conversion rights with respect to these convertible notes, effective November 20, 2014. Until November 19, 2014, holders will have the right to convert their notes. Although we have the right to settle any conversion with shares, cash, or a combination of shares and cash, we intend to settle conversions with shares. We also announced on October 21, 2014 that any convertible notes remaining outstanding on November 21, 2014 will be redeemed on that date for cash at a redemption price of the full principal amount, plus accrued interest. | ||||||||||||||||
NOTE 18. CAPITAL STOCK AND AMOUNTS PER SHARE (Continued) | ||||||||||||||||
Amounts Per Share Attributable to Ford Motor Company Common and Class B Stock | ||||||||||||||||
Basic and diluted income per share were calculated using the following (in millions): | ||||||||||||||||
Third Quarter | First Nine Months | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Basic and Diluted Income Attributable to Ford Motor Company | ||||||||||||||||
Basic income | $ | 835 | $ | 1,272 | $ | 3,135 | $ | 4,116 | ||||||||
Effect of dilutive 2016 Convertible Notes (a) | 12 | 10 | 36 | 33 | ||||||||||||
Effect of dilutive 2036 Convertible Notes (a) (b) | — | — | — | 1 | ||||||||||||
Diluted income | $ | 847 | $ | 1,282 | $ | 3,171 | $ | 4,150 | ||||||||
Basic and Diluted Shares | ||||||||||||||||
Basic shares (average shares outstanding) | 3,861 | 3,942 | 3,915 | 3,933 | ||||||||||||
Net dilutive options | 48 | 53 | 47 | 52 | ||||||||||||
Dilutive 2016 Convertible Notes | 101 | 98 | 100 | 98 | ||||||||||||
Dilutive 2036 Convertible Notes (b) | — | 3 | — | 3 | ||||||||||||
Diluted shares | 4,010 | 4,096 | 4,062 | 4,086 | ||||||||||||
__________ | ||||||||||||||||
(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) | In December 2013, we elected to terminate the conversion rights of holders under the 2036 Convertible Notes in accordance with their terms effective as of the close of business on January 21, 2014. As a result, any 2036 Convertible Notes remaining after January 21, 2014 cannot be converted to shares and are no longer dilutive. |
Segment_Information_Notes
Segment Information (Notes) | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||||||||||
SEGMENT INFORMATION | ' | |||||||||||||||||||||||||||||||
SEGMENT INFORMATION | ||||||||||||||||||||||||||||||||
Effective January 1, 2014, we changed our Automotive sector reportable segments to establish a fifth Automotive segment—Middle East & Africa—which includes South Africa and markets that were previously direct export markets in the Middle East and Africa regions. Previously, South Africa results were included in Asia Pacific Africa and direct export markets were reflected in the results of the producing region or segment. We have realigned reporting of our direct export markets on a geographic basis. Results for prior periods are presented on the new basis. | ||||||||||||||||||||||||||||||||
Our Automotive sector is comprised of the following segments: North America, South America, Europe, Middle East & Africa, and Asia Pacific. Included in each segment, described below, are the associated costs to develop, manufacture, distribute, and service vehicles and parts. | ||||||||||||||||||||||||||||||||
North America segment primarily includes the sale of Ford and Lincoln brand vehicles and related service parts and accessories in North America. | ||||||||||||||||||||||||||||||||
South America segment primarily includes the sale of Ford brand vehicles and related service parts and accessories in South America. | ||||||||||||||||||||||||||||||||
Europe segment primarily includes the sale of Ford brand vehicles, components, and related service parts and accessories in Europe, Turkey, and Russia. | ||||||||||||||||||||||||||||||||
Middle East & Africa segment primarily includes the sale of Ford and Lincoln brand vehicles and related service parts and accessories in the Middle East and Africa region. | ||||||||||||||||||||||||||||||||
Asia Pacific segment primarily includes the sale of Ford brand vehicles and related service parts and accessories in the Asia Pacific region. | ||||||||||||||||||||||||||||||||
Automotive segment results are presented on a “where-sold,” absolute-cost basis, which reflects the profit/(loss) on the sale within the segment in which the ultimate sale is made to our external customer. This presentation generally eliminates the effect of legal entity transfer prices within the Automotive sector for vehicles, components, and product engineering. | ||||||||||||||||||||||||||||||||
NOTE 19. SEGMENT INFORMATION (Continued) | ||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||
North | South | Europe | Middle East & Africa | Asia | Other | Special | Total | |||||||||||||||||||||||||
America | America | Pacific | Automotive | Items | ||||||||||||||||||||||||||||
Third Quarter 2014 | ||||||||||||||||||||||||||||||||
Revenues | $ | 19,942 | $ | 2,335 | $ | 6,844 | $ | 1,077 | $ | 2,581 | $ | — | $ | — | $ | 32,779 | ||||||||||||||||
Income/(Loss) before income taxes | 1,410 | (170 | ) | (439 | ) | (15 | ) | 44 | (144 | ) | (160 | ) | 526 | |||||||||||||||||||
Total assets at September 30 | 60,158 | 6,710 | 15,079 | 1,258 | 8,068 | — | — | 91,273 | ||||||||||||||||||||||||
Third Quarter 2013 | ||||||||||||||||||||||||||||||||
Revenues | $ | 21,121 | $ | 2,820 | $ | 6,400 | $ | 1,021 | $ | 2,495 | $ | — | $ | — | $ | 33,857 | ||||||||||||||||
Income/(Loss) before income taxes | 2,296 | 160 | (182 | ) | (25 | ) | 116 | (139 | ) | (498 | ) | 1,728 | ||||||||||||||||||||
Total assets at September 30 | 59,059 | 7,108 | 16,090 | 1,147 | 7,931 | — | — | 91,335 | ||||||||||||||||||||||||
Automotive Sector | ||||||||||||||||||||||||||||||||
Operating Segments | Reconciling Items | |||||||||||||||||||||||||||||||
North | South | Middle East & Africa | Asia | Other | Special | Total | ||||||||||||||||||||||||||
America | America | Europe | Pacific | Automotive | Items | |||||||||||||||||||||||||||
First Nine Months 2014 | ||||||||||||||||||||||||||||||||
Revenues | $ | 61,495 | $ | 6,337 | $ | 22,680 | $ | 3,404 | $ | 8,104 | $ | — | $ | — | $ | 102,020 | ||||||||||||||||
Income/(Loss) before income taxes | 5,350 | (975 | ) | (619 | ) | 62 | 494 | (537 | ) | (763 | ) | 3,012 | ||||||||||||||||||||
First Nine Months 2013 | ||||||||||||||||||||||||||||||||
Revenues | $ | 64,459 | $ | 8,142 | $ | 20,328 | $ | 3,511 | $ | 7,354 | $ | — | $ | — | $ | 103,794 | ||||||||||||||||
Income/(Loss) before income taxes | 7,009 | 93 | (913 | ) | 35 | 218 | (469 | ) | (1,257 | ) | 4,716 | |||||||||||||||||||||
NOTE 19. SEGMENT INFORMATION (Continued) | ||||||||||||||||||||||||||||||||
Financial Services Sector | Company | |||||||||||||||||||||||||||||||
Operating Segments | Reconciling Item | |||||||||||||||||||||||||||||||
Ford | Other | Elims | Total | Elims (a) | Total | |||||||||||||||||||||||||||
Credit | Financial | |||||||||||||||||||||||||||||||
Services | ||||||||||||||||||||||||||||||||
Third Quarter 2014 | ||||||||||||||||||||||||||||||||
Revenues | $ | 2,214 | $ | 37 | $ | (110 | ) | $ | 2,141 | $ | — | $ | 34,920 | |||||||||||||||||||
Income/(Loss) before income taxes | 498 | (3 | ) | — | 495 | — | 1,021 | |||||||||||||||||||||||||
Total assets at September 30 | 121,216 | 5,577 | (6,321 | ) | 120,472 | (2,910 | ) | 208,835 | ||||||||||||||||||||||||
Third Quarter 2013 | ||||||||||||||||||||||||||||||||
Revenues | $ | 1,974 | $ | 45 | $ | (101 | ) | $ | 1,918 | $ | — | $ | 35,775 | |||||||||||||||||||
Income/(Loss) before income taxes | 427 | (64 | ) | — | 363 | — | 2,091 | |||||||||||||||||||||||||
Total assets at September 30 | 111,834 | 5,749 | (6,946 | ) | 110,637 | (2,190 | ) | 199,782 | ||||||||||||||||||||||||
Financial Services Sector | Company | |||||||||||||||||||||||||||||||
Operating Segments | Reconciling Item | |||||||||||||||||||||||||||||||
Ford | Other | Elims | Total | Elims (a) | Total | |||||||||||||||||||||||||||
Credit | Financial | |||||||||||||||||||||||||||||||
Services | ||||||||||||||||||||||||||||||||
First Nine Months 2014 | ||||||||||||||||||||||||||||||||
Revenues | $ | 6,427 | $ | 105 | $ | (345 | ) | $ | 6,187 | $ | — | $ | 108,207 | |||||||||||||||||||
Income/(Loss) before income taxes | 1,431 | (45 | ) | — | 1,386 | — | 4,398 | |||||||||||||||||||||||||
First Nine Months 2013 | ||||||||||||||||||||||||||||||||
Revenues | $ | 5,735 | $ | 158 | $ | (340 | ) | $ | 5,553 | $ | — | $ | 109,347 | |||||||||||||||||||
Income/(Loss) before income taxes | 1,388 | (71 | ) | — | 1,317 | — | 6,033 | |||||||||||||||||||||||||
__________ | ||||||||||||||||||||||||||||||||
(a) | Includes intersector transactions occurring in the ordinary course of business and deferred tax netting. |
Commitments_and_Contingencies_
Commitments and Contingencies (Notes) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
COMMITMENTS AND CONTINGENCIES | ' | |||||||
COMMITMENTS AND CONTINGENCIES | ||||||||
Commitments and contingencies consist primarily of guarantees and indemnifications, litigation and claims, and warranty. | ||||||||
Guarantees and Indemnifications | ||||||||
Guarantees and indemnifications are recorded at fair value at their inception. We regularly review our performance risk under these arrangements, and in the event it becomes probable we will be required to perform under the guarantee or indemnification, the amount of probable payment is recorded. | ||||||||
We guarantee debt and lease obligations of certain joint ventures, as well as certain financial obligations of outside third parties, including suppliers, to support our business and economic growth. Expiration dates vary through 2033, and guarantees will terminate on payment and/or cancellation of the 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. | ||||||||
In the ordinary course of business, we execute contracts involving indemnifications standard in the industry and indemnifications specific to a transaction, such as the sale of a business. These indemnifications might include and are not limited to claims relating to any of the following: environmental, tax, and shareholder matters; intellectual property rights; power generation contracts; governmental regulations and employment-related matters; dealer, supplier, and other commercial contractual relationships; and financial matters, such as securitizations. Performance under these indemnities generally would be triggered by a breach of terms of the contract or by a third-party claim. While some of these indemnifications are limited in nature, many of them do not limit potential payment. Therefore, we are unable to estimate a maximum amount of future payments that could result from claims made under these unlimited indemnities. | ||||||||
The maximum potential payments and the carrying value of recorded liabilities related to guarantees and limited indemnities were as follows (in millions): | ||||||||
September 30, | December 31, | |||||||
2014 | 2013 | |||||||
Maximum potential payments | $ | 601 | $ | 659 | ||||
Carrying value of recorded liabilities related to guarantees and limited indemnities | 9 | 5 | ||||||
Litigation and Claims | ||||||||
Various legal actions, proceedings, and claims (generally, “matters”) are pending or may be instituted or asserted against us. These include but are not limited to matters arising out of alleged defects in our products; product warranties; governmental regulations relating to safety, emissions, and fuel economy or other matters; government incentives; tax matters; alleged illegal acts resulting in fines or penalties; financial services; employment-related matters; dealer, supplier, and other contractual relationships; intellectual property rights; environmental matters; shareholder or investor matters; and financial reporting matters. Certain of the pending legal actions are, or purport to be, class actions. Some of the matters involve or may involve claims for compensatory, punitive, or antitrust or other treble damages in very large amounts, or demands for field service actions, environmental remediation programs, sanctions, loss of government incentives, assessments, or other relief, which, if granted, would require very large expenditures. | ||||||||
The extent of our financial exposure to these matters is difficult to estimate. Many matters do not specify a dollar amount for damages, and many others specify only a jurisdictional minimum. To the extent an amount is asserted, our historical experience suggests that in most instances the amount asserted is not a reliable indicator of the ultimate outcome. | ||||||||
Litigation and claims are accrued when losses are deemed probable and reasonably estimable. In evaluating matters for accrual and disclosure purposes, we take into consideration factors such as our historical experience with matters of a similar nature, the specific facts and circumstances asserted, the likelihood that we will prevail, and the severity of any potential loss. We reevaluate and update our accruals as matters progress over time. | ||||||||
NOTE 20. COMMITMENTS AND CONTINGENCIES (Continued) | ||||||||
For the majority of matters, which generally arise out of alleged defects in our products, we establish an accrual based on our extensive historical experience with similar matters, 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 $3 billion. | ||||||||
As noted, the litigation process is subject to many uncertainties, and the outcome of individual matters is not predictable with assurance. Our assessments are based on our knowledge and experience, but the ultimate outcome of any matter could require payment substantially in excess of the amount that we have accrued and/or disclosed. | ||||||||
Warranty | ||||||||
Estimated warranty costs are accrued for at the time the vehicle is sold to a dealer. Included in warranty cost accruals are the costs for basic warranty coverages and field service actions (i.e., safety recalls, emission recalls, and other product campaigns) on products sold. These costs are estimates based primarily on historical experience. Warranty accruals accounted for in Other liabilities and deferred revenue for the periods ended September 30 were as follows (in millions): | ||||||||
First Nine Months | ||||||||
2014 | 2013 | |||||||
Beginning balance | $ | 3,927 | $ | 3,656 | ||||
Payments made during the period | (2,186 | ) | (1,763 | ) | ||||
Changes in accrual related to warranties issued during the period | 1,506 | 1,471 | ||||||
Changes in accrual related to pre-existing warranties | 1,522 | 227 | ||||||
Foreign currency translation and other | (67 | ) | (54 | ) | ||||
Ending balance | $ | 4,702 | $ | 3,537 | ||||
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, 2014 | |
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. | |
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. | |
Finance Loans and Leases Receivable [Abstract] | ' |
Finance Loans and Leases Receivable, Policy [Policy Text Block] | ' |
For all finance receivables, we define “past due” as any payment, including principal and interest, that is at least 31 days past the contractual due date. | |
The accrual of revenue is discontinued at the time a receivable is determined to be uncollectible. Accounts may be restored to accrual status only when a customer settles all past-due deficiency balances and future payments are reasonably assured. For receivables in non-accrual status, subsequent financing revenue is recognized only to the extent a payment is received. Payments are generally applied first to outstanding interest and then to the unpaid principal balance. | |
A restructuring of debt constitutes a TDR if we grant a concession to a debtor for economic or legal reasons related to the debtor’s financial difficulties that we otherwise would not consider. Consumer and non-consumer receivables that have a modified interest rate below market rate or that were modified in reorganization proceedings pursuant to the U.S. Bankruptcy Code, except non-consumer receivables that are current with minimal risk of loss, are considered to be TDRs. We do not grant concessions on the principal balance of our receivables. If a receivable is modified in a reorganization proceeding, all payment requirements of the reorganization plan need to be met before remaining balances are forgiven. Finance receivables involved in TDRs are specifically assessed for impairment. | |
Inventories footnote [Abstract] | ' |
Inventory, Policy [Policy Text Block] | ' |
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 28% and 20% of total inventories at September 30, 2014 and December 31, 2013, respectively. Cost of other inventories is determined by costing methods that approximate a first-in, first-out (“FIFO”) basis. | |
Employee Separation Actions [Abstract] | ' |
Employee Separation Actions [Policy Text Block] | ' |
We record costs associated with voluntary separations at the time of employee acceptance, unless the acceptance requires explicit approval by the Company. We record costs associated with involuntary separation programs when management has approved the plan for separation, the affected employees are identified, and it is unlikely that actions required to complete the separation plan will change significantly. 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. | |
Income Taxes [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. | |
During the third quarter of 2014, we recorded tax benefits of $245 million resulting from a change in our methodology for measuring currency gains and losses in computing earnings of Ford Credit’s European operations under U.S. law, as well as changes to tax depreciation related to assets used in our Automotive export operations. Implementation of the change in methodology for measuring currency gains and losses substantially reduced the accumulated earnings of Ford Credit’s European operations under U.S. tax law and resulted in the realization of additional foreign tax credits. As a result of this reduction in accumulated tax earnings, our measure of earnings indefinitely reinvested in operations outside the United States is substantially reduced as it is based on accumulated earnings determined under U.S. tax law. Our cash repatriation plans remain unchanged. | |
Amounts 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. | |
Commitments and Contingencies [Abstract] | ' |
Commitments and Contingencies, Policy [Policy Text Block] | ' |
Estimated warranty costs are accrued for at the time the vehicle is sold to a dealer. Included in warranty cost accruals are the costs for basic warranty coverages and field service actions (i.e., safety recalls, emission recalls, and other product campaigns) on products sold. | |
Guarantees and indemnifications are recorded at fair value at their inception. | |
Litigation and claims are accrued when losses are deemed probable and reasonably estimable |
Presentation_Tables
Presentation (Tables) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
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, | |||||||
2014 | 2013 | |||||||
Sector balance sheet presentation of deferred income tax assets | ||||||||
Automotive sector current deferred income tax assets | $ | 1,590 | $ | 1,574 | ||||
Automotive sector non-current deferred income tax assets | 12,307 | 13,436 | ||||||
Financial Services sector deferred income tax assets (a) | 178 | 184 | ||||||
Total | 14,075 | 15,194 | ||||||
Reclassification for netting of deferred income taxes | (1,763 | ) | (1,726 | ) | ||||
Consolidated balance sheet presentation of deferred income tax assets | $ | 12,312 | $ | 13,468 | ||||
Sector balance sheet presentation of deferred income tax liabilities | ||||||||
Automotive sector current deferred income tax liabilities | $ | 313 | $ | 267 | ||||
Automotive sector non-current deferred income tax liabilities | 408 | 430 | ||||||
Financial Services sector deferred income tax liabilities | 1,618 | 1,627 | ||||||
Total | 2,339 | 2,324 | ||||||
Reclassification for netting of deferred income taxes | (1,763 | ) | (1,726 | ) | ||||
Consolidated balance sheet presentation of deferred income tax liabilities | $ | 576 | $ | 598 | ||||
__________ | ||||||||
(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 | ||||||||
2014 | 2013 | |||||||
Automotive net cash provided by/(used in) operating activities | $ | 6,733 | $ | 6,378 | ||||
Financial Services net cash provided by/(used in) operating activities | 3,878 | 3,172 | ||||||
Total sector net cash provided by/(used in) operating activities | 10,611 | 9,550 | ||||||
Reclassifications between investing and operating cash flows | ||||||||
Purchases/Collections of wholesale receivables (a) | (728 | ) | (1,088 | ) | ||||
Purchases/Collections of other receivables (b) | (1 | ) | (89 | ) | ||||
Payments of interest supplements and residual support (c) | 2,457 | 1,756 | ||||||
Consolidated net cash provided by/(used in) operating activities | $ | 12,339 | $ | 10,129 | ||||
Automotive net cash provided by/(used in) investing activities | $ | (1,663 | ) | $ | (6,633 | ) | ||
Financial Services net cash provided by/(used in) investing activities | (12,025 | ) | (7,810 | ) | ||||
Total sector net cash provided by/(used in) investing activities | (13,688 | ) | (14,443 | ) | ||||
Reclassifications between investing and operating cash flows | ||||||||
Purchases/Collections of wholesale receivables (a) | 728 | 1,088 | ||||||
Purchases/Collections of other receivables (b) | 1 | 89 | ||||||
Payments of interest supplements and residual support (c) | (2,457 | ) | (1,756 | ) | ||||
Reclassifications between investing and financing cash flows | ||||||||
Elimination of investing activity to/(from) Financial Services in consolidation | (178 | ) | (298 | ) | ||||
Consolidated net cash provided by/(used in) investing activities | $ | (15,594 | ) | $ | (15,320 | ) | ||
Automotive net cash provided by/(used in) financing activities | $ | (3,963 | ) | $ | (254 | ) | ||
Financial Services net cash provided by/(used in) financing activities | 6,198 | 4,298 | ||||||
Total sector net cash provided by/(used in) financing activities | 2,235 | 4,044 | ||||||
Reclassifications between investing and financing cash flows | ||||||||
Elimination of investing activity to/(from) Financial Services in consolidation | 178 | 298 | ||||||
Consolidated net cash provided by/(used in) financing activities | $ | 2,413 | $ | 4,342 | ||||
__________ | ||||||||
(a) | In addition to the cash flows from vehicles sold by us, the cash flow from wholesale finance receivables (being reclassified between investing and 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 other receivables purchased/collected by the Financial Services sector from certain divisions and subsidiaries of the Automotive sector. | |||||||
(c) | Payments from Automotive sector to Ford Credit on behalf of the retail customer that represent interest supplements and residual support. |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | |||||||||||||||||||||||||||||||
The following table categorizes the fair values of items measured at fair value on a recurring basis on our balance sheet (in millions): | ||||||||||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||
Automotive Sector | ||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Cash equivalents – financial instruments | ||||||||||||||||||||||||||||||||
U.S. government and agencies | $ | — | $ | 58 | $ | — | $ | 58 | $ | — | $ | 33 | $ | — | $ | 33 | ||||||||||||||||
Non-U.S. government and agencies | — | — | — | — | — | 200 | — | 200 | ||||||||||||||||||||||||
Corporate debt | — | 40 | — | 40 | — | — | — | — | ||||||||||||||||||||||||
Total cash equivalents (a) | — | 98 | — | 98 | — | 233 | — | 233 | ||||||||||||||||||||||||
Marketable securities | ||||||||||||||||||||||||||||||||
U.S. government and agencies | 978 | 5,056 | — | 6,034 | 3,752 | 6,596 | — | 10,348 | ||||||||||||||||||||||||
Non-U.S. government and agencies | — | 7,487 | — | 7,487 | — | 6,538 | — | 6,538 | ||||||||||||||||||||||||
Corporate debt | — | 2,685 | — | 2,685 | — | 2,623 | — | 2,623 | ||||||||||||||||||||||||
Equities | 328 | — | — | 328 | 341 | — | — | 341 | ||||||||||||||||||||||||
Other marketable securities | — | 342 | — | 342 | — | 307 | — | 307 | ||||||||||||||||||||||||
Total marketable securities | 1,306 | 15,570 | — | 16,876 | 4,093 | 16,064 | — | 20,157 | ||||||||||||||||||||||||
Derivative financial instruments (b) | — | 535 | 2 | 537 | — | 579 | 1 | 580 | ||||||||||||||||||||||||
Total assets at fair value | $ | 1,306 | $ | 16,203 | $ | 2 | $ | 17,511 | $ | 4,093 | $ | 16,876 | $ | 1 | $ | 20,970 | ||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||
Derivative financial instruments (b) | $ | — | $ | 697 | $ | 2 | $ | 699 | $ | — | $ | 416 | $ | 2 | $ | 418 | ||||||||||||||||
Total liabilities at fair value | $ | — | $ | 697 | $ | 2 | $ | 699 | $ | — | $ | 416 | $ | 2 | $ | 418 | ||||||||||||||||
Financial Services Sector | ||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Cash equivalents – financial instruments | ||||||||||||||||||||||||||||||||
U.S. government and agencies | $ | 40 | $ | — | $ | — | $ | 40 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Non-U.S. government and agencies | — | 341 | — | 341 | — | 24 | — | 24 | ||||||||||||||||||||||||
Corporate debt | — | 60 | — | 60 | — | — | — | — | ||||||||||||||||||||||||
Total cash equivalents (a) | 40 | 401 | — | 441 | — | 24 | — | 24 | ||||||||||||||||||||||||
Marketable securities | ||||||||||||||||||||||||||||||||
U.S. government and agencies | 341 | 1,222 | — | 1,563 | 418 | 25 | — | 443 | ||||||||||||||||||||||||
Non-U.S. government and agencies | — | 644 | — | 644 | — | 184 | — | 184 | ||||||||||||||||||||||||
Corporate debt | — | 1,525 | — | 1,525 | — | 1,273 | — | 1,273 | ||||||||||||||||||||||||
Other marketable securities | — | 35 | — | 35 | — | 43 | — | 43 | ||||||||||||||||||||||||
Total marketable securities | 341 | 3,426 | — | 3,767 | 418 | 1,525 | — | 1,943 | ||||||||||||||||||||||||
Derivative financial instruments (b) | — | 751 | — | 751 | — | 585 | — | 585 | ||||||||||||||||||||||||
Total assets at fair value | $ | 381 | $ | 4,578 | $ | — | $ | 4,959 | $ | 418 | $ | 2,134 | $ | — | $ | 2,552 | ||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||
Derivative financial instruments (b) | $ | — | $ | 291 | $ | — | $ | 291 | $ | — | $ | 506 | $ | — | $ | 506 | ||||||||||||||||
Total liabilities at fair value | $ | — | $ | 291 | $ | — | $ | 291 | $ | — | $ | 506 | $ | — | $ | 506 | ||||||||||||||||
__________ | ||||||||||||||||||||||||||||||||
(a) | Excludes time deposits, certificates of deposit, money market accounts, and other cash equivalents reported at par value on our balance sheet totaling $4.7 billion and $2.8 billion for Automotive sector and $4.2 billion and $6.7 billion for Financial Services sector at September 30, 2014 and December 31, 2013, respectively. In addition to these cash equivalents, we also had cash on hand totaling $1.2 billion and $2 billion for Automotive sector and $2.7 billion and $2.8 billion for Financial Services sector at September 30, 2014 and December 31, 2013, respectively. | |||||||||||||||||||||||||||||||
(b) | See Note 11 for additional information regarding derivative financial instruments. |
Finance_Receivables_Tables
Finance Receivables (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
Financing Receivables [Line Items] | ' | |||||||||||||||||||||||
Net finance receivables [Table Text Block] | ' | |||||||||||||||||||||||
Finance receivables, net were as follows (in millions): | ||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
North | International | Total Finance Receivables | North | International | Total Finance Receivables | |||||||||||||||||||
America | America | |||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||
Retail financing, gross | $ | 43,537 | $ | 11,784 | $ | 55,321 | $ | 40,902 | $ | 10,797 | $ | 51,699 | ||||||||||||
Less: Unearned interest supplements | (1,511 | ) | (239 | ) | (1,750 | ) | (1,255 | ) | (247 | ) | (1,502 | ) | ||||||||||||
Consumer finance receivables | 42,026 | 11,545 | 53,571 | 39,647 | 10,550 | 50,197 | ||||||||||||||||||
Non-Consumer | ||||||||||||||||||||||||
Dealer financing | 21,454 | 8,779 | 30,233 | 22,072 | 7,833 | 29,905 | ||||||||||||||||||
Other | 748 | 310 | 1,058 | 732 | 339 | 1,071 | ||||||||||||||||||
Non-Consumer finance receivables | 22,202 | 9,089 | 31,291 | 22,804 | 8,172 | 30,976 | ||||||||||||||||||
Total recorded investment | $ | 64,228 | $ | 20,634 | $ | 84,862 | $ | 62,451 | $ | 18,722 | $ | 81,173 | ||||||||||||
Recorded investment in finance receivables | $ | 64,228 | $ | 20,634 | $ | 84,862 | $ | 62,451 | $ | 18,722 | $ | 81,173 | ||||||||||||
Less: Allowance for credit losses | (256 | ) | (69 | ) | (325 | ) | (280 | ) | (77 | ) | (357 | ) | ||||||||||||
Finance receivables, net (a) | $ | 63,972 | $ | 20,565 | $ | 84,537 | $ | 62,171 | $ | 18,645 | $ | 80,816 | ||||||||||||
Net finance receivables subject to fair value (b) | $ | 82,869 | $ | 79,149 | ||||||||||||||||||||
Fair value | 84,520 | 80,838 | ||||||||||||||||||||||
__________ | ||||||||||||||||||||||||
(a) | At September 30, 2014 and December 31, 2013, Finance receivables, net on the consolidated balance sheet were $79.9 billion and $77.5 billion, respectively. The balance is comprised of Financial Services sector finance receivables of $84.5 billion and $80.8 billion, respectively, net of $4.6 billion and $3.3 billion, respectively, of receivables purchased by Financial Services sector from Automotive sector, which are reclassified to Other receivables, net. | |||||||||||||||||||||||
(b) | At September 30, 2014 and December 31, 2013, excludes $1.7 billion and $1.7 billion, respectively, of certain receivables (primarily direct financing leases) that are not subject to fair value disclosure requirements. | |||||||||||||||||||||||
Aging analysis for total finance receivables [Text Block] | ' | |||||||||||||||||||||||
The aging analysis of our finance receivables balances were as follows (in millions): | ||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
North America | International | Total | North America | International | Total | |||||||||||||||||||
Consumer | ||||||||||||||||||||||||
31-60 days past due | $ | 583 | $ | 41 | $ | 624 | $ | 715 | $ | 39 | $ | 754 | ||||||||||||
61-90 days past due | 70 | 19 | 89 | 88 | 17 | 105 | ||||||||||||||||||
91-120 days past due | 17 | 9 | 26 | 18 | 9 | 27 | ||||||||||||||||||
Greater than 120 days past due | 40 | 22 | 62 | 37 | 26 | 63 | ||||||||||||||||||
Total past due | 710 | 91 | 801 | 858 | 91 | 949 | ||||||||||||||||||
Current | 41,316 | 11,454 | 52,770 | 38,789 | 10,459 | 49,248 | ||||||||||||||||||
Consumer finance receivables | 42,026 | 11,545 | 53,571 | 39,647 | 10,550 | 50,197 | ||||||||||||||||||
Non-Consumer | ||||||||||||||||||||||||
Total past due | 3 | 92 | 95 | 49 | 40 | 89 | ||||||||||||||||||
Current | 22,199 | 8,997 | 31,196 | 22,755 | 8,132 | 30,887 | ||||||||||||||||||
Non-Consumer finance receivables | 22,202 | 9,089 | 31,291 | 22,804 | 8,172 | 30,976 | ||||||||||||||||||
Total recorded investment | $ | 64,228 | $ | 20,634 | $ | 84,862 | $ | 62,451 | $ | 18,722 | $ | 81,173 | ||||||||||||
Non-consumer [Member] | ' | |||||||||||||||||||||||
Financing Receivables [Line Items] | ' | |||||||||||||||||||||||
Financing receivable credit quality indicators [Table Text Block] | ' | |||||||||||||||||||||||
The credit quality analysis of our dealer financing receivables was as follows (in millions): | ||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
North America | International | Total | North America | International | Total | |||||||||||||||||||
Dealer Financing | ||||||||||||||||||||||||
Group I | $ | 18,254 | $ | 4,325 | $ | 22,579 | $ | 18,357 | $ | 5,051 | $ | 23,408 | ||||||||||||
Group II | 2,941 | 3,073 | 6,014 | 3,289 | 2,092 | 5,381 | ||||||||||||||||||
Group III | 252 | 1,298 | 1,550 | 424 | 649 | 1,073 | ||||||||||||||||||
Group IV | 7 | 83 | 90 | 2 | 41 | 43 | ||||||||||||||||||
Total recorded investment | $ | 21,454 | $ | 8,779 | $ | 30,233 | $ | 22,072 | $ | 7,833 | $ | 29,905 | ||||||||||||
Allowance_for_Credit_Losses_Ta
Allowance for Credit Losses (Tables) (Financial Services [Member]) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
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] | ' | |||||||||||||||||||||||
n analysis of the allowance for credit losses related to finance receivables for the periods ended September 30 (in millions) is as follows: | ||||||||||||||||||||||||
Third Quarter 2014 | First Nine Months 2014 | |||||||||||||||||||||||
Consumer | Non-Consumer | Total | Consumer | Non-Consumer | Total | |||||||||||||||||||
Allowance for credit losses | ||||||||||||||||||||||||
Beginning balance | $ | 303 | $ | 24 | $ | 327 | $ | 327 | $ | 30 | $ | 357 | ||||||||||||
Charge-offs | (67 | ) | (2 | ) | (69 | ) | (200 | ) | (7 | ) | (207 | ) | ||||||||||||
Recoveries | 33 | 2 | 35 | 101 | 8 | 109 | ||||||||||||||||||
Provision for credit losses | 42 | (3 | ) | 39 | 82 | (10 | ) | 72 | ||||||||||||||||
Other (a) | (6 | ) | (1 | ) | (7 | ) | (5 | ) | (1 | ) | (6 | ) | ||||||||||||
Ending balance | $ | 305 | $ | 20 | $ | 325 | $ | 305 | $ | 20 | $ | 325 | ||||||||||||
Analysis of ending balance of allowance for credit losses | ||||||||||||||||||||||||
Collective impairment allowance | $ | 283 | $ | 19 | $ | 302 | ||||||||||||||||||
Specific impairment allowance | 22 | 1 | 23 | |||||||||||||||||||||
Ending balance | 305 | 20 | 325 | |||||||||||||||||||||
Analysis of ending balance of finance receivables | ||||||||||||||||||||||||
Collectively evaluated for impairment | 53,150 | 31,176 | 84,326 | |||||||||||||||||||||
Specifically evaluated for impairment | 421 | 115 | 536 | |||||||||||||||||||||
Recorded investment | 53,571 | 31,291 | 84,862 | |||||||||||||||||||||
Ending balance, net of allowance for credit losses | $ | 53,266 | $ | 31,271 | $ | 84,537 | ||||||||||||||||||
__________ | ||||||||||||||||||||||||
(a) | Primarily represents amounts related to translation adjustments. | |||||||||||||||||||||||
Third Quarter 2013 | First Nine Months 2013 | |||||||||||||||||||||||
Consumer | Non-Consumer | Total | Consumer | Non-Consumer | Total | |||||||||||||||||||
Allowance for credit losses | ||||||||||||||||||||||||
Beginning balance | $ | 324 | $ | 31 | $ | 355 | $ | 360 | $ | 29 | $ | 389 | ||||||||||||
Charge-offs | (71 | ) | (3 | ) | (74 | ) | (212 | ) | (13 | ) | (225 | ) | ||||||||||||
Recoveries | 32 | 1 | 33 | 109 | 4 | 113 | ||||||||||||||||||
Provision for credit losses | 32 | (1 | ) | 31 | 65 | 8 | 73 | |||||||||||||||||
Other (a) | 3 | 1 | 4 | (2 | ) | 1 | (1 | ) | ||||||||||||||||
Ending balance | $ | 320 | $ | 29 | $ | 349 | $ | 320 | $ | 29 | $ | 349 | ||||||||||||
Analysis of ending balance of allowance for credit losses | ||||||||||||||||||||||||
Collective impairment allowance | $ | 298 | $ | 27 | $ | 325 | ||||||||||||||||||
Specific impairment allowance | 22 | 2 | 24 | |||||||||||||||||||||
Ending balance | 320 | 29 | 349 | |||||||||||||||||||||
Analysis of ending balance of finance receivables | ||||||||||||||||||||||||
Collectively evaluated for impairment | 48,897 | 28,991 | 77,888 | |||||||||||||||||||||
Specifically evaluated for impairment | 424 | 58 | 482 | |||||||||||||||||||||
Recorded investment | 49,321 | 29,049 | 78,370 | |||||||||||||||||||||
Ending balance, net of allowance for credit losses | $ | 49,001 | $ | 29,020 | $ | 78,021 | ||||||||||||||||||
__________ | ||||||||||||||||||||||||
(a) | Primarily represents amounts related to translation adjustments. |
Inventories_Tables
Inventories (Tables) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
Schedule of Inventory [Table Text Block] | ' | |||||||
Inventories were as follows (in millions): | ||||||||
September 30, | December 31, | |||||||
2014 | 2013 | |||||||
Raw materials, work-in-process, and supplies | $ | 4,199 | $ | 3,628 | ||||
Finished products | 6,126 | 5,081 | ||||||
Total inventories under FIFO | 10,325 | 8,709 | ||||||
LIFO adjustment | (1,029 | ) | (1,001 | ) | ||||
Total inventories | $ | 9,296 | $ | 7,708 | ||||
Other_Liabilities_and_Deferred1
Other Liabilities and Deferred Revenue (Tables) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
ACCRUED LIABILITIES AND DEFERRED REVENUE [Abstract] | ' | |||||||
Schedule of Accrued Liabilities and Deferred Revenue [Table Text Block] | ' | |||||||
Other liabilities and deferred revenue were as follows (in millions): | ||||||||
September 30, | December 31, | |||||||
2014 | 2013 | |||||||
Automotive Sector | ||||||||
Current | ||||||||
Dealer and dealers’ customer allowances and claims | $ | 7,856 | $ | 7,730 | ||||
Deferred revenue | 4,272 | 2,817 | ||||||
Employee benefit plans | 1,985 | 1,706 | ||||||
Accrued interest | 182 | 262 | ||||||
Other postretirement employee benefits (“OPEB”) | 383 | 387 | ||||||
Pension (a) | 338 | 327 | ||||||
Other | 3,238 | 3,308 | ||||||
Total Automotive other liabilities and deferred revenue | 18,254 | 16,537 | ||||||
Non-current | ||||||||
Pension (a) | 8,036 | 9,288 | ||||||
OPEB | 5,403 | 5,502 | ||||||
Dealer and dealers’ customer allowances and claims | 2,591 | 2,028 | ||||||
Deferred revenue | 2,622 | 2,534 | ||||||
Employee benefit plans | 1,183 | 1,213 | ||||||
Other | 1,355 | 1,524 | ||||||
Total Automotive other liabilities and deferred revenue | 21,190 | 22,089 | ||||||
Total Automotive sector | 39,444 | 38,626 | ||||||
Financial Services Sector | 1,963 | 2,260 | ||||||
Total | $ | 41,407 | $ | 40,886 | ||||
__________ | ||||||||
(a) | Balances at September 30, 2014 reflect net pension liabilities at December 31, 2013, updated for service and interest cost, expected return on assets, separation expense, actual benefit payments, and cash contributions. The discount rate and rate of expected return assumptions are unchanged from year-end 2013. |
Retirement_Benefits_Tables
Retirement Benefits (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
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 | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Service cost | $ | 127 | $ | 140 | $ | 118 | $ | 119 | $ | 13 | $ | 16 | ||||||||||||
Interest cost | 498 | 479 | 302 | 280 | 68 | 63 | ||||||||||||||||||
Expected return on assets | (678 | ) | (685 | ) | (383 | ) | (339 | ) | — | — | ||||||||||||||
Amortization of: | ||||||||||||||||||||||||
Prior service costs/(credits) | 38 | 44 | 15 | 16 | (58 | ) | (71 | ) | ||||||||||||||||
(Gains)/Losses | 52 | 136 | 149 | 170 | 24 | 39 | ||||||||||||||||||
Separation programs/other | 8 | 1 | 15 | 69 | 1 | 2 | ||||||||||||||||||
Recognition of (gains)/losses due to: | ||||||||||||||||||||||||
Curtailments | — | — | — | — | — | (2 | ) | |||||||||||||||||
Settlements | — | 145 | — | — | — | — | ||||||||||||||||||
Total expense/(income) | $ | 45 | $ | 260 | $ | 216 | $ | 315 | $ | 48 | $ | 47 | ||||||||||||
First Nine Months | ||||||||||||||||||||||||
Pension Benefits | ||||||||||||||||||||||||
U.S. Plans | Non-U.S. Plans | Worldwide OPEB | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Service cost | $ | 380 | $ | 443 | $ | 356 | $ | 360 | $ | 40 | $ | 48 | ||||||||||||
Interest cost | 1,494 | 1,434 | 904 | 847 | 202 | 192 | ||||||||||||||||||
Expected return on assets | (2,034 | ) | (2,133 | ) | (1,145 | ) | (1,029 | ) | — | — | ||||||||||||||
Amortization of: | ||||||||||||||||||||||||
Prior service costs/(credits) | 116 | 131 | 42 | 49 | (172 | ) | (213 | ) | ||||||||||||||||
(Gains)/Losses | 155 | 526 | 445 | 513 | 73 | 119 | ||||||||||||||||||
Separation programs/other | 9 | 5 | 54 | 220 | 1 | 2 | ||||||||||||||||||
Recognition of (gains)/losses due to: | ||||||||||||||||||||||||
Curtailments | — | — | — | — | — | (2 | ) | |||||||||||||||||
Settlements | — | 439 | 14 | — | — | — | ||||||||||||||||||
Total expense/(income) | $ | 120 | $ | 845 | $ | 670 | $ | 960 | $ | 144 | $ | 146 | ||||||||||||
Debt_And_Commitments_Tables
Debt And Commitments (Tables) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Debt Instrument [Line Items] | ' | |||||||
Schedule of debt outstanding [Table Text Block] | ' | |||||||
The carrying value of debt was $119.2 billion and $114.7 billion at September 30, 2014 and December 31, 2013, respectively. The following table details the carrying value of our debt by Automotive sector and Financial Services sector (in millions): | ||||||||
Automotive Sector | September 30, | December 31, | ||||||
2014 | 2013 | |||||||
Debt payable within one year | ||||||||
Short-term | $ | 535 | $ | 562 | ||||
Long-term payable within one year | ||||||||
U.S. Department of Energy (“DOE”) Advanced Technology Vehicles Manufacturing (“ATVM”) Incentive Program | 591 | 591 | ||||||
European Investment Bank (“EIB”) loans | 1,231 | — | ||||||
Unamortized (discount)/premium | 3 | — | ||||||
Other debt | 367 | 104 | ||||||
Total debt payable within one year | 2,727 | 1,257 | ||||||
Long-term debt payable after one year | ||||||||
Public unsecured debt securities | 6,634 | 6,799 | ||||||
Unamortized (discount)/premium | (145 | ) | (148 | ) | ||||
Convertible notes | 883 | 908 | ||||||
Unamortized (discount)/premium | (82 | ) | (110 | ) | ||||
DOE ATVM Incentive Program | 3,981 | 4,424 | ||||||
EIB loans | — | 1,295 | ||||||
Other debt | 947 | 1,255 | ||||||
Unamortized (discount)/premium | (2 | ) | 3 | |||||
Total long-term debt payable after one year | 12,216 | 14,426 | ||||||
Total Automotive sector | $ | 14,943 | $ | 15,683 | ||||
Fair value of Automotive sector debt (a) | $ | 17,181 | $ | 17,301 | ||||
Financial Services Sector | ||||||||
Short-term debt | ||||||||
Floating rate demand notes | $ | 5,689 | $ | 5,319 | ||||
Commercial paper | 2,137 | 2,003 | ||||||
Other short-term debt | 2,935 | 2,345 | ||||||
Asset-backed commercial paper | — | 3,364 | ||||||
Other asset-backed short-term debt | 1,375 | 1,963 | ||||||
Total short-term debt | 12,136 | 14,994 | ||||||
Long-term debt | ||||||||
Unsecured debt | ||||||||
Notes payable within one year | 9,361 | 4,475 | ||||||
Notes payable after one year | 41,189 | 38,914 | ||||||
Asset-backed debt | ||||||||
Notes payable within one year | 16,577 | 17,337 | ||||||
Notes payable after one year | 24,820 | 23,273 | ||||||
Unamortized (discount)/premium | (61 | ) | (91 | ) | ||||
Fair value adjustments (b) | 228 | 103 | ||||||
Total long-term debt | 92,114 | 84,011 | ||||||
Total Financial Services sector | $ | 104,250 | $ | 99,005 | ||||
Fair value of Financial Services sector debt (a) | $ | 107,094 | $ | 102,399 | ||||
__________ | ||||||||
(a) | The fair value of debt includes $279 million and $377 million of Automotive sector short-term debt and $10.8 billion and $9.7 billion of Financial Services sector short-term debt at September 30, 2014 and December 31, 2013, respectively, carried at cost which approximates fair value. All debt is categorized within Level 2 of the fair value hierarchy. | |||||||
(b) | 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, 2014 | ||||||||||||||||||||||||
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 income for the periods ended September 30 (in millions): | ||||||||||||||||||||||||
Third Quarter | First Nine Months | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Automotive Sector | ||||||||||||||||||||||||
Cash flow hedges (a) | ||||||||||||||||||||||||
Reclassified from AOCI to income | $ | (61 | ) | $ | 23 | $ | 99 | $ | (105 | ) | ||||||||||||||
Derivatives not designated as hedging instruments | ||||||||||||||||||||||||
Foreign currency exchange contracts | 168 | (24 | ) | 107 | 21 | |||||||||||||||||||
Commodity contracts | (28 | ) | 8 | 7 | (67 | ) | ||||||||||||||||||
Total | $ | 79 | $ | 7 | $ | 213 | $ | (151 | ) | |||||||||||||||
Financial Services Sector | ||||||||||||||||||||||||
Fair value hedges | ||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Net interest settlements and accruals excluded from the assessment of hedge effectiveness | $ | 79 | $ | 63 | $ | 220 | $ | 186 | ||||||||||||||||
Ineffectiveness (b) | (2 | ) | (3 | ) | 8 | (33 | ) | |||||||||||||||||
Derivatives not designated as hedging instruments | ||||||||||||||||||||||||
Interest rate contracts | (10 | ) | (19 | ) | (37 | ) | (25 | ) | ||||||||||||||||
Foreign currency exchange contracts | 52 | (55 | ) | 22 | 37 | |||||||||||||||||||
Cross-currency interest rate swap contracts | 118 | (131 | ) | 102 | (37 | ) | ||||||||||||||||||
Total | $ | 237 | $ | (145 | ) | $ | 315 | $ | 128 | |||||||||||||||
__________ | ||||||||||||||||||||||||
(a) | For the third quarter and first nine months of 2014, a $128 million loss and a $336 million loss, respectively, were recorded in OCI. For the third quarter and first nine months of 2013, a $126 million loss and a $169 million gain, respectively, were recorded in OCI. | |||||||||||||||||||||||
(b) | For the third quarter and first nine months of 2014, hedge ineffectiveness reflects the net change in fair value on derivatives of $88 million loss and $179 million gain, respectively, and change in value on hedged debt attributable to the change in benchmark interest rate of $86 million gain and $171 million loss, respectively. For the third quarter and first nine months of 2013, hedge ineffectiveness reflects the net 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. | |||||||||||||||||||||||
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). Derivatives are recorded on the balance sheet at fair value and presented on a gross basis. | ||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
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 and commodity contracts | $ | 17,205 | $ | 233 | $ | 492 | $ | 16,238 | $ | 413 | $ | 189 | ||||||||||||
Derivatives not designated as hedging instruments | ||||||||||||||||||||||||
Foreign currency exchange contracts | 13,406 | 291 | 186 | 11,599 | 144 | 210 | ||||||||||||||||||
Commodity contracts | 675 | 13 | 21 | 3,006 | 23 | 19 | ||||||||||||||||||
Total derivative value, gross | $ | 31,286 | 537 | 699 | $ | 30,843 | 580 | 418 | ||||||||||||||||
Derivative value eligible for offset | (480 | ) | (480 | ) | (359 | ) | (359 | ) | ||||||||||||||||
Total derivative value, net | $ | 57 | $ | 219 | $ | 221 | $ | 59 | ||||||||||||||||
Financial Services Sector | ||||||||||||||||||||||||
Fair value hedges | ||||||||||||||||||||||||
Interest rate contracts | $ | 22,943 | $ | 424 | $ | 157 | $ | 18,778 | $ | 360 | $ | 179 | ||||||||||||
Derivatives not designated as hedging instruments | ||||||||||||||||||||||||
Interest rate contracts | 56,607 | 254 | 78 | 69,863 | 224 | 126 | ||||||||||||||||||
Foreign currency exchange contracts | 2,324 | 56 | 12 | 2,410 | 1 | 25 | ||||||||||||||||||
Cross-currency interest rate swap contracts | 2,513 | 17 | 44 | 2,620 | — | 176 | ||||||||||||||||||
Total derivative value, gross | $ | 84,387 | 751 | 291 | $ | 93,671 | 585 | 506 | ||||||||||||||||
Derivative value eligible for offset | (240 | ) | (240 | ) | (296 | ) | (296 | ) | ||||||||||||||||
Total derivative value, net | $ | 511 | $ | 51 | $ | 289 | $ | 210 | ||||||||||||||||
Redeemable_Noncontrolling_Inte1
Redeemable Noncontrolling Interest (Tables) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Redeemable Noncontrolling Interests [Abstract] | ' | |||||||
Redeemable Noncontrolling Interest [Table Text Block] | ' | |||||||
The following table summarizes the change in our carrying value of the redeemable noncontrolling interest for the periods ended September 30 (in millions): | ||||||||
First Nine Months | ||||||||
2014 | 2013 | |||||||
Beginning balance | $ | 331 | $ | 322 | ||||
Accretion to the redemption value of noncontrolling interest (a) | 11 | 7 | ||||||
Payments (b) | (3 | ) | — | |||||
Ending balance | $ | 339 | $ | 329 | ||||
__________ | ||||||||
(a) | For the first nine months of 2014 and 2013, respectively, $7 million and $7 million were recognized in Interest expense and $4 million and $0 were recognized in Income/(Loss) attributable to noncontrolling interests. | |||||||
(b) | Represents a return of Mazda’s investment in AAI that we are contractually obligated to pay as long as Mazda retains its ownership in AAI. |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income/(Loss) (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
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): | ||||||||||||||||
Third Quarter | First Nine Months | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Foreign currency translation | ||||||||||||||||
Beginning balance | $ | (1,664 | ) | $ | (2,041 | ) | $ | (1,746 | ) | $ | (1,245 | ) | ||||
Gains/(Losses) on foreign currency translation | (550 | ) | 210 | (434 | ) | (594 | ) | |||||||||
Less: Tax/(Tax benefit) | — | — | 53 | — | ||||||||||||
Net gains/(losses) on foreign currency translation | (550 | ) | 210 | (487 | ) | (594 | ) | |||||||||
(Gains)/Losses reclassified from AOCI to income (a) | — | 103 | 19 | 111 | ||||||||||||
Other comprehensive income/(loss), net of tax | (550 | ) | 313 | (468 | ) | (483 | ) | |||||||||
Ending balance | $ | (2,214 | ) | $ | (1,728 | ) | $ | (2,214 | ) | $ | (1,728 | ) | ||||
Derivative instruments (b) | ||||||||||||||||
Beginning balance | $ | (155 | ) | $ | 111 | $ | 40 | $ | (175 | ) | ||||||
Gains/(Losses) on derivative instruments | (128 | ) | (126 | ) | (336 | ) | 169 | |||||||||
Less: Tax/(Tax benefit) | (35 | ) | (42 | ) | (125 | ) | 52 | |||||||||
Net gains/(losses) on derivative instruments | (93 | ) | (84 | ) | (211 | ) | 117 | |||||||||
(Gains)/Losses reclassified from AOCI to income | 61 | (23 | ) | (99 | ) | 102 | ||||||||||
Less: Tax/(Tax benefit) | 16 | (12 | ) | (67 | ) | 28 | ||||||||||
Net gains/(losses) reclassified from AOCI to net income (c) | 45 | (11 | ) | (32 | ) | 74 | ||||||||||
Other comprehensive income/(loss), net of tax | (48 | ) | (95 | ) | (243 | ) | 191 | |||||||||
Ending balance | $ | (203 | ) | $ | 16 | $ | (203 | ) | $ | 16 | ||||||
Pension and other postretirement benefits | ||||||||||||||||
Beginning balance | $ | (16,288 | ) | $ | (19,907 | ) | $ | (16,524 | ) | $ | (21,438 | ) | ||||
Gains/(Losses) arising during the period | — | 75 | (13 | ) | 769 | |||||||||||
Less: Tax/(Tax benefit) | — | 35 | (5 | ) | 271 | |||||||||||
Net gains/(losses) arising during the period | — | 40 | (8 | ) | 498 | |||||||||||
Amortization of prior service costs/(credits) (d) | (5 | ) | (11 | ) | (14 | ) | (33 | ) | ||||||||
Amortization of (gains)/losses (d) | 225 | 345 | 673 | 1,158 | ||||||||||||
Recognition of (gains)/losses due to curtailments (d) | — | (2 | ) | — | (2 | ) | ||||||||||
Recognition of (gains)/losses due to settlements (d) | — | 145 | 14 | 439 | ||||||||||||
Less: Tax/(Tax benefit) | 52 | 120 | 185 | 460 | ||||||||||||
Net amortization and (gains)/losses reclassified from AOCI | 168 | 357 | 488 | 1,102 | ||||||||||||
to net income | ||||||||||||||||
Translation impact on non-U.S. plans | 372 | (288 | ) | 296 | 40 | |||||||||||
Other comprehensive income/(loss), net of tax | 540 | 109 | 776 | 1,640 | ||||||||||||
Ending balance | $ | (15,748 | ) | $ | (19,798 | ) | $ | (15,748 | ) | $ | (19,798 | ) | ||||
Total AOCI ending balance at September 30 | $ | (18,165 | ) | $ | (21,510 | ) | $ | (18,165 | ) | $ | (21,510 | ) | ||||
__________ | ||||||||||||||||
(a) | Accumulated translation adjustments related to investments in foreign subsidiaries are reclassified to Automotive interest income and other income/(loss), net, Financial Services other income/(loss), net, or Equity in net income of affiliated companies. | |||||||||||||||
(b) | We expect to reclassify existing net losses of $206 million from Accumulated other comprehensive income/(loss) to Automotive cost of sales during the next twelve months as the underlying exposures are realized. | |||||||||||||||
(c) | Gains/(losses) on cash flow hedges are reclassified from AOCI to income when the hedged item affects earnings and is recognized in Automotive cost of sales. | |||||||||||||||
(d) | These AOCI components are included in the computation of total pension and OPEB expense and are recorded in Automotive cost of sales and Selling, administrative and other expenses. See Note 9 for additional information. |
Other_Income_Loss_Tables
Other Income (Loss) (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
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 | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Investment-related interest income | $ | 65 | $ | 38 | $ | 145 | $ | 125 | ||||||||
Interest income/(expense) on income taxes | (3 | ) | — | 34 | — | |||||||||||
Realized and unrealized gains/(losses) on cash equivalents and marketable securities | 7 | 67 | 7 | 147 | ||||||||||||
Gains/(Losses) on changes in investments in affiliates | — | (104 | ) | 1 | (114 | ) | ||||||||||
Gains/(Losses) on extinguishment of debt | — | — | (5 | ) | (18 | ) | ||||||||||
Royalty income | 142 | 148 | 444 | 409 | ||||||||||||
Other | 44 | 51 | 113 | 137 | ||||||||||||
Total | $ | 255 | $ | 200 | $ | 739 | $ | 686 | ||||||||
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 | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Investment-related interest income | $ | 14 | $ | 12 | $ | 35 | $ | 40 | ||||||||
Interest income/(expense) on income taxes | 1 | — | (9 | ) | — | |||||||||||
Realized and unrealized gains/(losses) on cash equivalents and marketable securities | (1 | ) | 5 | 7 | (2 | ) | ||||||||||
Insurance premiums earned | 31 | 28 | 94 | 87 | ||||||||||||
Other | 45 | 55 | 118 | 145 | ||||||||||||
Total | $ | 90 | $ | 100 | $ | 245 | $ | 270 | ||||||||
Employee_Separation_Actions_an1
Employee Separation Actions and Exit and Disposal Activities (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
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 recorded in Other liabilities and deferred revenue, for the periods ended September 30 (in millions): | ||||||||||||||||
Third Quarter | First Nine Months | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Beginning balance | $ | 643 | $ | 287 | $ | 497 | $ | — | ||||||||
Changes in accruals (a) | 146 | 196 | 365 | 483 | ||||||||||||
Payments | (30 | ) | (93 | ) | (99 | ) | (95 | ) | ||||||||
Foreign currency translation | (57 | ) | 11 | (61 | ) | 13 | ||||||||||
Ending balance | $ | 702 | $ | 401 | $ | 702 | $ | 401 | ||||||||
__________ | ||||||||||||||||
(a) | Excludes $6 million and $18 million for the third quarter and first nine months of 2014, respectively, and $48 million and $180 million for the third quarter and first nine months of 2013, respectively, of pension related costs. |
Capital_Stock_and_Amounts_Per_1
Capital Stock and Amounts Per Share (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Stockholders' Equity Note [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 | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Basic and Diluted Income Attributable to Ford Motor Company | ||||||||||||||||
Basic income | $ | 835 | $ | 1,272 | $ | 3,135 | $ | 4,116 | ||||||||
Effect of dilutive 2016 Convertible Notes (a) | 12 | 10 | 36 | 33 | ||||||||||||
Effect of dilutive 2036 Convertible Notes (a) (b) | — | — | — | 1 | ||||||||||||
Diluted income | $ | 847 | $ | 1,282 | $ | 3,171 | $ | 4,150 | ||||||||
Basic and Diluted Shares | ||||||||||||||||
Basic shares (average shares outstanding) | 3,861 | 3,942 | 3,915 | 3,933 | ||||||||||||
Net dilutive options | 48 | 53 | 47 | 52 | ||||||||||||
Dilutive 2016 Convertible Notes | 101 | 98 | 100 | 98 | ||||||||||||
Dilutive 2036 Convertible Notes (b) | — | 3 | — | 3 | ||||||||||||
Diluted shares | 4,010 | 4,096 | 4,062 | 4,086 | ||||||||||||
__________ | ||||||||||||||||
(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) | In December 2013, we elected to terminate the conversion rights of holders under the 2036 Convertible Notes in accordance with their terms effective as of the close of business on January 21, 2014. As a result, any 2036 Convertible Notes remaining after January 21, 2014 cannot be converted to shares and are no longer dilutive. |
Segment_Information_Tables
Segment Information (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||
North | South | Europe | Middle East & Africa | Asia | Other | Special | Total | |||||||||||||||||||||||||
America | America | Pacific | Automotive | Items | ||||||||||||||||||||||||||||
Third Quarter 2014 | ||||||||||||||||||||||||||||||||
Revenues | $ | 19,942 | $ | 2,335 | $ | 6,844 | $ | 1,077 | $ | 2,581 | $ | — | $ | — | $ | 32,779 | ||||||||||||||||
Income/(Loss) before income taxes | 1,410 | (170 | ) | (439 | ) | (15 | ) | 44 | (144 | ) | (160 | ) | 526 | |||||||||||||||||||
Total assets at September 30 | 60,158 | 6,710 | 15,079 | 1,258 | 8,068 | — | — | 91,273 | ||||||||||||||||||||||||
Third Quarter 2013 | ||||||||||||||||||||||||||||||||
Revenues | $ | 21,121 | $ | 2,820 | $ | 6,400 | $ | 1,021 | $ | 2,495 | $ | — | $ | — | $ | 33,857 | ||||||||||||||||
Income/(Loss) before income taxes | 2,296 | 160 | (182 | ) | (25 | ) | 116 | (139 | ) | (498 | ) | 1,728 | ||||||||||||||||||||
Total assets at September 30 | 59,059 | 7,108 | 16,090 | 1,147 | 7,931 | — | — | 91,335 | ||||||||||||||||||||||||
Automotive Sector | ||||||||||||||||||||||||||||||||
Operating Segments | Reconciling Items | |||||||||||||||||||||||||||||||
North | South | Middle East & Africa | Asia | Other | Special | Total | ||||||||||||||||||||||||||
America | America | Europe | Pacific | Automotive | Items | |||||||||||||||||||||||||||
First Nine Months 2014 | ||||||||||||||||||||||||||||||||
Revenues | $ | 61,495 | $ | 6,337 | $ | 22,680 | $ | 3,404 | $ | 8,104 | $ | — | $ | — | $ | 102,020 | ||||||||||||||||
Income/(Loss) before income taxes | 5,350 | (975 | ) | (619 | ) | 62 | 494 | (537 | ) | (763 | ) | 3,012 | ||||||||||||||||||||
First Nine Months 2013 | ||||||||||||||||||||||||||||||||
Revenues | $ | 64,459 | $ | 8,142 | $ | 20,328 | $ | 3,511 | $ | 7,354 | $ | — | $ | — | $ | 103,794 | ||||||||||||||||
Income/(Loss) before income taxes | 7,009 | 93 | (913 | ) | 35 | 218 | (469 | ) | (1,257 | ) | 4,716 | |||||||||||||||||||||
NOTE 19. SEGMENT INFORMATION (Continued) | ||||||||||||||||||||||||||||||||
Financial Services Sector | Company | |||||||||||||||||||||||||||||||
Operating Segments | Reconciling Item | |||||||||||||||||||||||||||||||
Ford | Other | Elims | Total | Elims (a) | Total | |||||||||||||||||||||||||||
Credit | Financial | |||||||||||||||||||||||||||||||
Services | ||||||||||||||||||||||||||||||||
Third Quarter 2014 | ||||||||||||||||||||||||||||||||
Revenues | $ | 2,214 | $ | 37 | $ | (110 | ) | $ | 2,141 | $ | — | $ | 34,920 | |||||||||||||||||||
Income/(Loss) before income taxes | 498 | (3 | ) | — | 495 | — | 1,021 | |||||||||||||||||||||||||
Total assets at September 30 | 121,216 | 5,577 | (6,321 | ) | 120,472 | (2,910 | ) | 208,835 | ||||||||||||||||||||||||
Third Quarter 2013 | ||||||||||||||||||||||||||||||||
Revenues | $ | 1,974 | $ | 45 | $ | (101 | ) | $ | 1,918 | $ | — | $ | 35,775 | |||||||||||||||||||
Income/(Loss) before income taxes | 427 | (64 | ) | — | 363 | — | 2,091 | |||||||||||||||||||||||||
Total assets at September 30 | 111,834 | 5,749 | (6,946 | ) | 110,637 | (2,190 | ) | 199,782 | ||||||||||||||||||||||||
Financial Services Sector | Company | |||||||||||||||||||||||||||||||
Operating Segments | Reconciling Item | |||||||||||||||||||||||||||||||
Ford | Other | Elims | Total | Elims (a) | Total | |||||||||||||||||||||||||||
Credit | Financial | |||||||||||||||||||||||||||||||
Services | ||||||||||||||||||||||||||||||||
First Nine Months 2014 | ||||||||||||||||||||||||||||||||
Revenues | $ | 6,427 | $ | 105 | $ | (345 | ) | $ | 6,187 | $ | — | $ | 108,207 | |||||||||||||||||||
Income/(Loss) before income taxes | 1,431 | (45 | ) | — | 1,386 | — | 4,398 | |||||||||||||||||||||||||
First Nine Months 2013 | ||||||||||||||||||||||||||||||||
Revenues | $ | 5,735 | $ | 158 | $ | (340 | ) | $ | 5,553 | $ | — | $ | 109,347 | |||||||||||||||||||
Income/(Loss) before income taxes | 1,388 | (71 | ) | — | 1,317 | — | 6,033 | |||||||||||||||||||||||||
__________ | ||||||||||||||||||||||||||||||||
(a) | Includes intersector transactions occurring in the ordinary course of business and deferred tax netting. |
Commitments_and_Contingencies_1
Commitments and Contingencies (Tables) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
Guarantee obligations [Table Text Block] | ' | |||||||
The maximum potential payments and the carrying value of recorded liabilities related to guarantees and limited indemnities were as follows (in millions): | ||||||||
September 30, | December 31, | |||||||
2014 | 2013 | |||||||
Maximum potential payments | $ | 601 | $ | 659 | ||||
Carrying value of recorded liabilities related to guarantees and limited indemnities | 9 | 5 | ||||||
Warranty [Table Text Block] | ' | |||||||
Warranty accruals accounted for in Other liabilities and deferred revenue for the periods ended September 30 were as follows (in millions): | ||||||||
First Nine Months | ||||||||
2014 | 2013 | |||||||
Beginning balance | $ | 3,927 | $ | 3,656 | ||||
Payments made during the period | (2,186 | ) | (1,763 | ) | ||||
Changes in accrual related to warranties issued during the period | 1,506 | 1,471 | ||||||
Changes in accrual related to pre-existing warranties | 1,522 | 227 | ||||||
Foreign currency translation and other | (67 | ) | (54 | ) | ||||
Ending balance | $ | 4,702 | $ | 3,537 | ||||
Presentation_Prior_Period_Adju
Presentation Prior Period Adjustment (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ' | ' | ' | ' |
Decrease in equity | ($26,165) | ($26,145) | ($20,210) | ($15,686) |
Increase in other liabilities and deferred revenue | 41,407 | 40,886 | ' | ' |
Increase in deferred income taxes | 576 | 598 | ' | ' |
Adjustments for Change in accounting principle [Member] | ' | ' | ' | ' |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ' | ' | ' | ' |
Decrease in equity | ' | 271 | ' | 303 |
Increase in other liabilities and deferred revenue | ' | 424 | ' | 468 |
Increase in deferred income taxes | ' | $153 | ' | $165 |
Presentation_Reconciliations_b
Presentation - Reconciliations between Consolidated and Sector Deferred Taxes (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Sector balance sheet presentation of deferred income tax assets [Abstract] | ' | ' |
Deferred income tax assets | $12,312 | $13,468 |
Sector balance sheet presentation of deferred income tax liabilities [Abstract] | ' | ' |
Deferred income tax liabilities | 576 | 598 |
Automotive [Member] | ' | ' |
Sector balance sheet presentation of deferred income tax assets [Abstract] | ' | ' |
Automotive sector current deferred income tax assets | 1,590 | 1,574 |
Automotive sector non-current deferred income tax assets | 12,307 | 13,436 |
Sector balance sheet presentation of deferred income tax liabilities [Abstract] | ' | ' |
Automotive sector current deferred income tax liabilities | 313 | 267 |
Automotive sector non-current deferred income tax liabilities | 408 | 430 |
Financial Services [Member] | ' | ' |
Sector balance sheet presentation of deferred income tax liabilities [Abstract] | ' | ' |
Deferred income tax liabilities | 1,618 | 1,627 |
Financial Services [Member] | Other assets [Member] | ' | ' |
Sector balance sheet presentation of deferred income tax assets [Abstract] | ' | ' |
Deferred income tax assets | 178 | 184 |
Intersector [Member] | ' | ' |
Sector balance sheet presentation of deferred income tax assets [Abstract] | ' | ' |
Deferred income tax assets | 14,075 | 15,194 |
Sector balance sheet presentation of deferred income tax liabilities [Abstract] | ' | ' |
Deferred income tax liabilities | 2,339 | 2,324 |
Intersector Eliminations [Member] | ' | ' |
Sector balance sheet presentation of deferred income tax assets [Abstract] | ' | ' |
Deferred income tax assets | -1,763 | -1,726 |
Sector balance sheet presentation of deferred income tax liabilities [Abstract] | ' | ' |
Deferred income tax liabilities | ($1,763) | ($1,726) |
Presentation_Sector_to_Consoli
Presentation - Sector to Consolidated Cash Flow Reconciliation (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Sector to Consolidated Cash Flow Reconciliation [Abstract] | ' | ' |
Net cash provided by/(used in) operating activities | $12,339 | $10,129 |
Net cash provided by/(used in) investing activities | -15,594 | -15,320 |
Net cash provided by/(used in) financing activities | 2,413 | 4,342 |
Intersector [Member] | ' | ' |
Sector to Consolidated Cash Flow Reconciliation [Abstract] | ' | ' |
Net cash provided by/(used in) operating activities | 10,611 | 9,550 |
Net cash provided by/(used in) investing activities | -13,688 | -14,443 |
Net cash provided by/(used in) financing activities | 2,235 | 4,044 |
Reclassifications [Abstract] | ' | ' |
Purchase/Collection of wholesale receivables (Reclassifications between investing and operating activities) | -728 | -1,088 |
Purchase/Collection of other receivables (Reclassifications between investing and operating activities) | -1 | -89 |
Payment of interest supplements and residual support (Reclassifications between investing and operating activities) | 2,457 | 1,756 |
Purchase/Collections of wholesale receivables (Reclassifications between investing and operating activities) | 728 | 1,088 |
Purchase/Collections of other receivables (Reclassifications between investing and operating activities) | 1 | 89 |
Payment of interest supplements and residual support (Reclassifications between investing and operating activities) | -2,457 | -1,756 |
Automotive [Member] | ' | ' |
Sector to Consolidated Cash Flow Reconciliation [Abstract] | ' | ' |
Net cash provided by/(used in) operating activities | 6,733 | 6,378 |
Net cash provided by/(used in) investing activities | -1,663 | -6,633 |
Net cash provided by/(used in) financing activities | -3,963 | -254 |
Financial Services [Member] | ' | ' |
Sector to Consolidated Cash Flow Reconciliation [Abstract] | ' | ' |
Net cash provided by/(used in) operating activities | 3,878 | 3,172 |
Net cash provided by/(used in) investing activities | -12,025 | -7,810 |
Net cash provided by/(used in) financing activities | 6,198 | 4,298 |
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 | -178 | -298 |
Net cash provided by/(used in) financing activities | $178 | $298 |
Presentation_Venezuelan_Operat
Presentation - Venezuelan Operations (Details) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Mar. 31, 2014 | Mar. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Mar. 31, 2014 | Feb. 13, 2013 | Feb. 12, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Mar. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Mar. 31, 2014 |
In Millions, unless otherwise specified | USD ($) | USD ($) | USD ($) | USD ($) | VENEZUELA | VENEZUELA | VENEZUELA | SICAD I [Member] | SICAD I [Member] | National Center for Foreign Commerce [Member] | National Center for Foreign Commerce [Member] | Automotive [Member] | Automotive [Member] | Automotive [Member] | Automotive [Member] | Automotive [Member] | Financial Services [Member] | Financial Services [Member] | Financial Services [Member] | Financial Services [Member] | Financial Services [Member] |
USD ($) | USD ($) | USD ($) | VENEZUELA | VENEZUELA | VENEZUELA | VENEZUELA | USD ($) | USD ($) | USD ($) | USD ($) | VENEZUELA | USD ($) | USD ($) | USD ($) | USD ($) | VENEZUELA | |||||
VEB | VEB | VEB | VEB | USD ($) | USD ($) | ||||||||||||||||
Foreign Currency Spot Exchange Rate | ' | ' | ' | ' | ' | ' | ' | 12 | 10.8 | 6.3 | 4.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remeasurement Loss | ' | ' | ' | ' | $316 | $186 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $310 | ' | ' | ' | ' | $6 |
Monetary Assets, Net | ' | ' | ' | ' | ' | ' | 352 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents included in net monetary assets | 13,320 | 14,468 | 14,752 | 15,659 | ' | ' | 342 | ' | ' | ' | ' | 5,980 | 4,959 | 5,660 | 6,247 | ' | 7,340 | 9,509 | 9,092 | 9,412 | ' |
Total Investment in Currency Restricted Subsidiary | ' | ' | ' | ' | ' | ' | 483 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amounts of Foreign Currency Payment Pending Approval | ' | ' | ' | ' | ' | ' | 261 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amounts Payable to Other Subsidiaries from Currency Restricted Subsidiary | ' | ' | ' | ' | ' | ' | $257 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair_Value_Measurements_Input_
Fair Value Measurements - Input Hierarchy of Items Measured at Fair Value on a Recurring Basis (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Automotive [Member] | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | $537,000,000 | $580,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 699,000,000 | 418,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 98,000,000 | 233,000,000 |
Marketable securities | ' | ' |
Marketable securities | 16,876,000,000 | 20,157,000,000 |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 537,000,000 | 580,000,000 |
Total assets at fair value | 17,511,000,000 | 20,970,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 699,000,000 | 418,000,000 |
Total liabilities at fair value | 699,000,000 | 418,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | US Treasury and Government [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 58,000,000 | 33,000,000 |
Marketable securities | ' | ' |
Marketable securities | 6,034,000,000 | 10,348,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Foreign Government and Agencies [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 0 | 200,000,000 |
Marketable securities | ' | ' |
Marketable securities | 7,487,000,000 | 6,538,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Corporate Debt [Domain] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 40,000,000 | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Corporate Debt [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 2,685,000,000 | 2,623,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Equities [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 328,000,000 | 341,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Other marketable securities [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 342,000,000 | 307,000,000 |
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 | 4,700,000,000 | 2,800,000,000 |
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 | 1,200,000,000 | 2,000,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 0 | 0 |
Marketable securities | ' | ' |
Marketable securities | 1,306,000,000 | 4,093,000,000 |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 0 | 0 |
Total assets at fair value | 1,306,000,000 | 4,093,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 0 | 0 |
Total liabilities at fair value | 0 | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | US Treasury and Government [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 0 | 0 |
Marketable securities | ' | ' |
Marketable securities | 978,000,000 | 3,752,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Foreign Government and Agencies [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 0 | 0 |
Marketable securities | ' | ' |
Marketable securities | 0 | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Corporate Debt [Domain] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 0 | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Corporate Debt [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 0 | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Equities [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 328,000,000 | 341,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Other marketable securities [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 0 | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 98,000,000 | 233,000,000 |
Marketable securities | ' | ' |
Marketable securities | 15,570,000,000 | 16,064,000,000 |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 535,000,000 | 579,000,000 |
Total assets at fair value | 16,203,000,000 | 16,876,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 697,000,000 | 416,000,000 |
Total liabilities at fair value | 697,000,000 | 416,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | US Treasury and Government [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 58,000,000 | 33,000,000 |
Marketable securities | ' | ' |
Marketable securities | 5,056,000,000 | 6,596,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Foreign Government and Agencies [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 0 | 200,000,000 |
Marketable securities | ' | ' |
Marketable securities | 7,487,000,000 | 6,538,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Corporate Debt [Domain] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 40,000,000 | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Corporate Debt [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 2,685,000,000 | 2,623,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Equities [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 0 | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Other marketable securities [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 342,000,000 | 307,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 0 | 0 |
Marketable securities | ' | ' |
Marketable securities | 0 | 0 |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 2,000,000 | 1,000,000 |
Total assets at fair value | 2,000,000 | 1,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 2,000,000 | 2,000,000 |
Total liabilities at fair value | 2,000,000 | 2,000,000 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | US Treasury and Government [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 0 | 0 |
Marketable securities | ' | ' |
Marketable securities | 0 | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Foreign Government and Agencies [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 0 | 0 |
Marketable securities | ' | ' |
Marketable securities | 0 | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Corporate Debt [Domain] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 0 | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Corporate Debt [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 0 | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Equities [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 0 | 0 |
Automotive [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Other marketable securities [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 0 | 0 |
Financial Services [Member] | ' | ' |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 751,000,000 | 585,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 291,000,000 | 506,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 441,000,000 | 24,000,000 |
Marketable securities | ' | ' |
Marketable securities | 3,767,000,000 | 1,943,000,000 |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 751,000,000 | 585,000,000 |
Total assets at fair value | 4,959,000,000 | 2,552,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 291,000,000 | 506,000,000 |
Total liabilities at fair value | 291,000,000 | 506,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | US Treasury and Government [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 40,000,000 | 0 |
Marketable securities | ' | ' |
Marketable securities | 1,563,000,000 | 443,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Foreign Government and Agencies [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 341,000,000 | 24,000,000 |
Marketable securities | ' | ' |
Marketable securities | 644,000,000 | 184,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Corporate Debt [Domain] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 60,000,000 | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Corporate Debt [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 1,525,000,000 | 1,273,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Other marketable securities [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 35,000,000 | 43,000,000 |
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 | 4,200,000,000 | 6,700,000,000 |
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 | 2,700,000,000 | 2,800,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 40,000,000 | 0 |
Marketable securities | ' | ' |
Marketable securities | 341,000,000 | 418,000,000 |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 0 | 0 |
Total assets at fair value | 381,000,000 | 418,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 0 | 0 |
Total liabilities at fair value | 0 | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | US Treasury and Government [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 40,000,000 | 0 |
Marketable securities | ' | ' |
Marketable securities | 341,000,000 | 418,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Foreign Government and Agencies [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 0 | 0 |
Marketable securities | ' | ' |
Marketable securities | 0 | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Corporate Debt [Domain] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 0 | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Corporate Debt [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 0 | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Other marketable securities [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 0 | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 401,000,000 | 24,000,000 |
Marketable securities | ' | ' |
Marketable securities | 3,426,000,000 | 1,525,000,000 |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 751,000,000 | 585,000,000 |
Total assets at fair value | 4,578,000,000 | 2,134,000,000 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 291,000,000 | 506,000,000 |
Total liabilities at fair value | 291,000,000 | 506,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | US Treasury and Government [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 0 | 0 |
Marketable securities | ' | ' |
Marketable securities | 1,222,000,000 | 25,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Foreign Government and Agencies [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 341,000,000 | 24,000,000 |
Marketable securities | ' | ' |
Marketable securities | 644,000,000 | 184,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Corporate Debt [Domain] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 60,000,000 | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Corporate Debt [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 1,525,000,000 | 1,273,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Other marketable securities [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 35,000,000 | 43,000,000 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 0 | 0 |
Marketable securities | ' | ' |
Marketable securities | 0 | 0 |
Derivative Financial Instrument Assets | ' | ' |
Derivative financial instruments assets | 0 | 0 |
Total assets at fair value | 0 | 0 |
Derivative financial instruments liabilities | ' | ' |
Derivative financial instruments liabilities | 0 | 0 |
Total liabilities at fair value | 0 | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | US Treasury and Government [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 0 | 0 |
Marketable securities | ' | ' |
Marketable securities | 0 | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Foreign Government and Agencies [Member] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 0 | 0 |
Marketable securities | ' | ' |
Marketable securities | 0 | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Corporate Debt [Domain] | ' | ' |
Cash equivalents - financial instruments | ' | ' |
Cash equivalents - financial instruments | 0 | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Corporate Debt [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | 0 | 0 |
Financial Services [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Other marketable securities [Member] | ' | ' |
Marketable securities | ' | ' |
Marketable securities | $0 | $0 |
Finance_Receivables_net_Detail
Finance Receivables, net (Details) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
Wholesale Loans Percentage of Dealer Financing | 94.00% | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Finance receivables, net | $79,882,000,000 | ' | $77,481,000,000 | ' | ' | ' |
Financial Services [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 84,862,000,000 | ' | 81,173,000,000 | 78,370,000,000 | ' | ' |
Less: Allowance for Credit Losses | -325,000,000 | -327,000,000 | -357,000,000 | -349,000,000 | -355,000,000 | -389,000,000 |
Finance receivables, net | 84,537,000,000 | ' | 80,816,000,000 | 78,021,000,000 | ' | ' |
Net finance receivables subject to fair value | 82,869,000,000 | ' | 79,149,000,000 | ' | ' | ' |
Fair value | 84,520,000,000 | ' | 80,838,000,000 | ' | ' | ' |
Finance Receivables Net Not Subject To Fair Value | 1,700,000,000 | ' | 1,700,000,000 | ' | ' | ' |
Financial Services [Member] | North America [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 64,228,000,000 | ' | 62,451,000,000 | ' | ' | ' |
Less: Allowance for Credit Losses | -256,000,000 | ' | -280,000,000 | ' | ' | ' |
Finance receivables, net | 63,972,000,000 | ' | 62,171,000,000 | ' | ' | ' |
Financial Services [Member] | International [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 20,634,000,000 | ' | 18,722,000,000 | ' | ' | ' |
Less: Allowance for Credit Losses | -69,000,000 | ' | -77,000,000 | ' | ' | ' |
Finance receivables, net | 20,565,000,000 | ' | 18,645,000,000 | ' | ' | ' |
Financial Services [Member] | Consumer [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Finance Receivable Before Unearned Interest Supplements | 55,321,000,000 | ' | 51,699,000,000 | ' | ' | ' |
Less: Unearned interest supplements | -1,750,000,000 | ' | -1,502,000,000 | ' | ' | ' |
Financing Receivable, Gross | 53,571,000,000 | ' | 50,197,000,000 | ' | ' | ' |
Financial Services [Member] | Consumer [Member] | North America [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Finance Receivable Before Unearned Interest Supplements | 43,537,000,000 | ' | 40,902,000,000 | ' | ' | ' |
Less: Unearned interest supplements | -1,511,000,000 | ' | -1,255,000,000 | ' | ' | ' |
Financing Receivable, Gross | 42,026,000,000 | ' | 39,647,000,000 | ' | ' | ' |
Amount of finance receivables that secure certain debt obligations | 19,300,000,000 | ' | 21,800,000,000 | ' | ' | ' |
Financial Services [Member] | Consumer [Member] | International [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Finance Receivable Before Unearned Interest Supplements | 11,784,000,000 | ' | 10,797,000,000 | ' | ' | ' |
Less: Unearned interest supplements | -239,000,000 | ' | -247,000,000 | ' | ' | ' |
Financing Receivable, Gross | 11,545,000,000 | ' | 10,550,000,000 | ' | ' | ' |
Amount of finance receivables that secure certain debt obligations | 4,700,000,000 | ' | 5,900,000,000 | ' | ' | ' |
Financial Services [Member] | Non-consumer [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 31,291,000,000 | ' | 30,976,000,000 | ' | ' | ' |
Financial Services [Member] | Non-consumer [Member] | North America [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 22,202,000,000 | ' | 22,804,000,000 | ' | ' | ' |
Amount of finance receivables that secure certain debt obligations | 17,300,000,000 | ' | 18,900,000,000 | ' | ' | ' |
Financial Services [Member] | Non-consumer [Member] | International [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 9,089,000,000 | ' | 8,172,000,000 | ' | ' | ' |
Amount of finance receivables that secure certain debt obligations | 3,800,000,000 | ' | 5,000,000,000 | ' | ' | ' |
Financial Services [Member] | Non-consumer [Member] | Wholesale and Dealer Loans [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 30,233,000,000 | ' | 29,905,000,000 | ' | ' | ' |
Financial Services [Member] | Non-consumer [Member] | Wholesale and Dealer Loans [Member] | North America [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 21,454,000,000 | ' | 22,072,000,000 | ' | ' | ' |
Financial Services [Member] | Non-consumer [Member] | Wholesale and Dealer Loans [Member] | International [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 8,779,000,000 | ' | 7,833,000,000 | ' | ' | ' |
Financial Services [Member] | Non-consumer [Member] | Other [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 1,058,000,000 | ' | 1,071,000,000 | ' | ' | ' |
Financial Services [Member] | Non-consumer [Member] | Other [Member] | North America [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 748,000,000 | ' | 732,000,000 | ' | ' | ' |
Financial Services [Member] | Non-consumer [Member] | Other [Member] | International [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Gross | 310,000,000 | ' | 339,000,000 | ' | ' | ' |
Other Receivables Net [Member] | Intersector [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Finance receivables, net | 4,600,000,000 | ' | 3,300,000,000 | ' | ' | ' |
Other Assets on Statement of Financial Position [Member] | Financial Services [Member] | ' | ' | ' | ' | ' | ' |
Net Finance Receivables [Abstract] | ' | ' | ' | ' | ' | ' |
Uncollected Interest Receivable Excluded From Finance Receivable | $184,000,000 | ' | $196,000,000 | ' | ' | ' |
Finance_Receivables_Aging_Deta
Finance Receivables Aging (Details) (Financial Services [Member], USD $) | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
Financing Receivables [Line Items] | ' | ' | ' |
Number Of Days After Which Finance Receivable Is Considered Past Due | 'any payment, including principal and interest, that is at least 31 days past the contractual due date | ' | ' |
Financing Receivable, Gross | $84,862 | $81,173 | $78,370 |
Minimum [Member] | ' | ' | ' |
Financing Receivables [Line Items] | ' | ' | ' |
Number Of Days At Which Finance Receivables Are In Process Of Collection | '90 days | ' | ' |
Consumer [Member] | ' | ' | ' |
Financing Receivables [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 15 | 14 | ' |
Financing Receivable Recorded Investment 31 To 60 Days Past Due | 624 | 754 | ' |
Financing Receivable Recorded Investment 61 To 90 Days Past Due | 89 | 105 | ' |
Financing Receivable Recorded Investment 91 To 120 Days Past Due | 26 | 27 | ' |
Financing Receivable Recorded Investment Greater Than 120 Days Past Due | 62 | 63 | ' |
Financing Receivable, Recorded Investment, Past Due | 801 | 949 | ' |
Financing Receivable, Recorded Investment, Current | 52,770 | 49,248 | ' |
Financing Receivable, Gross | 53,571 | 50,197 | ' |
Non-consumer [Member] | ' | ' | ' |
Financing Receivables [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 3 | 21 | ' |
Financing Receivable, Recorded Investment, Past Due | 95 | 89 | ' |
Financing Receivable, Recorded Investment, Current | 31,196 | 30,887 | ' |
Financing Receivable, Gross | 31,291 | 30,976 | ' |
North America [Member] | ' | ' | ' |
Financing Receivables [Line Items] | ' | ' | ' |
Financing Receivable, Gross | 64,228 | 62,451 | ' |
North America [Member] | Consumer [Member] | ' | ' | ' |
Financing Receivables [Line Items] | ' | ' | ' |
Financing Receivable Recorded Investment 31 To 60 Days Past Due | 583 | 715 | ' |
Financing Receivable Recorded Investment 61 To 90 Days Past Due | 70 | 88 | ' |
Financing Receivable Recorded Investment 91 To 120 Days Past Due | 17 | 18 | ' |
Financing Receivable Recorded Investment Greater Than 120 Days Past Due | 40 | 37 | ' |
Financing Receivable, Recorded Investment, Past Due | 710 | 858 | ' |
Financing Receivable, Recorded Investment, Current | 41,316 | 38,789 | ' |
Financing Receivable, Gross | 42,026 | 39,647 | ' |
North America [Member] | Non-consumer [Member] | ' | ' | ' |
Financing Receivables [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due | 3 | 49 | ' |
Financing Receivable, Recorded Investment, Current | 22,199 | 22,755 | ' |
Financing Receivable, Gross | 22,202 | 22,804 | ' |
International [Member] | ' | ' | ' |
Financing Receivables [Line Items] | ' | ' | ' |
Financing Receivable, Gross | 20,634 | 18,722 | ' |
International [Member] | Consumer [Member] | ' | ' | ' |
Financing Receivables [Line Items] | ' | ' | ' |
Financing Receivable Recorded Investment 31 To 60 Days Past Due | 41 | 39 | ' |
Financing Receivable Recorded Investment 61 To 90 Days Past Due | 19 | 17 | ' |
Financing Receivable Recorded Investment 91 To 120 Days Past Due | 9 | 9 | ' |
Financing Receivable Recorded Investment Greater Than 120 Days Past Due | 22 | 26 | ' |
Financing Receivable, Recorded Investment, Past Due | 91 | 91 | ' |
Financing Receivable, Recorded Investment, Current | 11,454 | 10,459 | ' |
Financing Receivable, Gross | 11,545 | 10,550 | ' |
International [Member] | Non-consumer [Member] | ' | ' | ' |
Financing Receivables [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due | 92 | 40 | ' |
Financing Receivable, Recorded Investment, Current | 8,997 | 8,132 | ' |
Financing Receivable, Gross | $9,089 | $8,172 | ' |
Finance_Receivables_Credit_Qua
Finance Receivables - Credit Quality (Details) (Financial Services [Member], USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | 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] | 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] | 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] | International [Member] | International [Member] | International [Member] | International [Member] | International [Member] | International [Member] | |||
Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Pass | Substandard | Minimum [Member] | Maximum [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] | 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] | Non-consumer [Member] | Non-consumer [Member] | Consumer [Member] | Consumer [Member] | ||||||||||||
Group I | Group I | Group II | Group II | Group III | Group III | Group IV | Group IV | Special Mention [Member] | Special Mention [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [Member] | Wholesale and Dealer Loans [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 | $84,862 | $81,173 | $78,370 | $31,291 | $30,976 | $30,233 | $29,905 | $22,579 | $23,408 | $6,014 | $5,381 | $1,550 | $1,073 | $90 | $43 | $53,571 | $50,197 | ' | ' | ' | ' | $64,228 | $62,451 | $22,202 | $22,804 | $21,454 | $22,072 | $18,254 | $18,357 | $2,941 | $3,289 | $252 | $424 | $7 | $2 | $42,026 | $39,647 | $20,634 | $18,722 | $9,089 | $8,172 | $8,779 | $7,833 | $4,325 | $5,051 | $3,073 | $2,092 | $1,298 | $649 | $83 | $41 | $11,545 | $10,550 |
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, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 |
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 | ' | $421 | $435 | $115 | $71 | ' |
Percentage of recorded investment of receivables that were impaired | ' | 0.80% | 0.90% | 0.40% | 0.20% | ' |
Finance Receivables Non Accrual [Abstract] | ' | ' | ' | ' | ' | ' |
Number Of Days At Which Finance Receivables Are Put In Non Accrual Status | ' | ' | ' | ' | ' | '120 days |
Allowance_for_Credit_Losses_De
Allowance for Credit Losses (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Analysis of ending balance of finance receivables | ' | ' | ' | ' | ' |
Finance receivables, net | $79,882 | ' | $79,882 | ' | $77,481 |
Financial Services [Member] | ' | ' | ' | ' | ' |
Allowance for credit losses | ' | ' | ' | ' | ' |
Beginning balance | 327 | 355 | 357 | 389 | ' |
Charge-offs | -69 | -74 | -207 | -225 | ' |
Recoveries | 35 | 33 | 109 | 113 | ' |
Provision for credit losses | 39 | 31 | 72 | 73 | ' |
Other | -7 | 4 | -6 | -1 | ' |
Ending balance | 325 | 349 | 325 | 349 | ' |
Analysis of ending balance of allowance for credit losses | ' | ' | ' | ' | ' |
Collective impairment allowance | 302 | 325 | 302 | 325 | ' |
Specific impairment allowance | 23 | 24 | 23 | 24 | ' |
Ending balance | 325 | 349 | 325 | 349 | ' |
Analysis of ending balance of finance receivables | ' | ' | ' | ' | ' |
Collectively evaluated for impairment | 84,326 | 77,888 | 84,326 | 77,888 | ' |
Specifically evaluated for impairment | 536 | 482 | 536 | 482 | ' |
Financing Receivable, Gross | 84,862 | 78,370 | 84,862 | 78,370 | 81,173 |
Finance receivables, net | 84,537 | 78,021 | 84,537 | 78,021 | 80,816 |
Financial Services [Member] | Consumer [Member] | ' | ' | ' | ' | ' |
Allowance for credit losses | ' | ' | ' | ' | ' |
Beginning balance | 303 | 324 | 327 | 360 | ' |
Charge-offs | -67 | -71 | -200 | -212 | ' |
Recoveries | 33 | 32 | 101 | 109 | ' |
Provision for credit losses | 42 | 32 | 82 | 65 | ' |
Other | -6 | 3 | -5 | -2 | ' |
Ending balance | 305 | 320 | 305 | 320 | ' |
Analysis of ending balance of allowance for credit losses | ' | ' | ' | ' | ' |
Collective impairment allowance | 283 | 298 | 283 | 298 | ' |
Specific impairment allowance | 22 | 22 | 22 | 22 | ' |
Ending balance | 305 | 320 | 305 | 320 | ' |
Analysis of ending balance of finance receivables | ' | ' | ' | ' | ' |
Collectively evaluated for impairment | 53,150 | 48,897 | 53,150 | 48,897 | ' |
Specifically evaluated for impairment | 421 | 424 | 421 | 424 | ' |
Financing Receivable, Gross | 53,571 | 49,321 | 53,571 | 49,321 | ' |
Finance receivables, net | 53,266 | 49,001 | 53,266 | 49,001 | ' |
Financial Services [Member] | Non-consumer [Member] | ' | ' | ' | ' | ' |
Allowance for credit losses | ' | ' | ' | ' | ' |
Beginning balance | 24 | 31 | 30 | 29 | ' |
Charge-offs | -2 | -3 | -7 | -13 | ' |
Recoveries | 2 | 1 | 8 | 4 | ' |
Provision for credit losses | -3 | -1 | -10 | 8 | ' |
Other | -1 | 1 | -1 | 1 | ' |
Ending balance | 20 | 29 | 20 | 29 | ' |
Analysis of ending balance of allowance for credit losses | ' | ' | ' | ' | ' |
Collective impairment allowance | 19 | 27 | 19 | 27 | ' |
Specific impairment allowance | 1 | 2 | 1 | 2 | ' |
Ending balance | 20 | 29 | 20 | 29 | ' |
Analysis of ending balance of finance receivables | ' | ' | ' | ' | ' |
Collectively evaluated for impairment | 31,176 | 28,991 | 31,176 | 28,991 | ' |
Specifically evaluated for impairment | 115 | 58 | 115 | 58 | ' |
Financing Receivable, Gross | 31,291 | 29,049 | 31,291 | 29,049 | ' |
Finance receivables, net | $31,271 | $29,020 | $31,271 | $29,020 | ' |
Inventories_Details
Inventories (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Inventories footnote [Abstract] | ' | ' |
Percentage Of LIFO Inventory To Total Inventory | 28.00% | 20.00% |
Inventory, Net [Abstract] | ' | ' |
Raw materials, work-in-process and supplies | $4,199 | $3,628 |
Finished products | 6,126 | 5,081 |
Total inventories under FIFO | 10,325 | 8,709 |
LIFO adjustment | -1,029 | -1,001 |
Total inventories | 9,296 | 7,708 |
Automotive [Member] | ' | ' |
Inventory, Net [Abstract] | ' | ' |
Total inventories | $9,296 | $7,708 |
Variable_Interest_Entities_VIE
Variable Interest Entities - VIEs of Which We Are Not the Primary Beneficiary (Details) (Investment Type [Member], Variable Interest Entity, Not Primary Beneficiary [Member], USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Investment Type [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ' | ' |
Total maximum exposure | $330 | $336 |
Other_Liabilities_and_Deferred2
Other Liabilities and Deferred Revenue (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Other liabilities and deferred revenue | $41,407 | $40,886 |
Automotive [Member] | ' | ' |
Other liabilities and deferred revenue | 39,444 | 38,626 |
Liabilities, Current [Abstract] | ' | ' |
Dealer and dealers' customer allowances and claims | 7,856 | 7,730 |
Deferred revenue | 4,272 | 2,817 |
Employee benefit plans | 1,985 | 1,706 |
Accrued interest | 182 | 262 |
Other postretirement employee benefits | 383 | 387 |
Pension | 338 | 327 |
Other | 3,238 | 3,308 |
Total Automotive other liabilities and deferred revenue | 18,254 | 16,537 |
Liabilities, Noncurrent [Abstract] | ' | ' |
Pension | 8,036 | 9,288 |
OPEB | 5,403 | 5,502 |
Dealer and dealers' customer allowances and claims | 2,591 | 2,028 |
Deferred revenue | 2,622 | 2,534 |
Employee benefit plans | 1,183 | 1,213 |
Other | 1,355 | 1,524 |
Total Automotive other liabilities | 21,190 | 22,089 |
Financial Services [Member] | ' | ' |
Other liabilities and deferred revenue | $1,963 | $2,260 |
Retirement_Benefits_Expense_De
Retirement Benefits - Expense (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
U.S. Plans | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost | $127,000,000 | $140,000,000 | $380,000,000 | $443,000,000 |
Interest cost | 498,000,000 | 479,000,000 | 1,494,000,000 | 1,434,000,000 |
Expected return on assets | -678,000,000 | -685,000,000 | -2,034,000,000 | -2,133,000,000 |
Defined Benefit Plan Amortization Categories [Abstract] | ' | ' | ' | ' |
Prior service costs/(credits) | 38,000,000 | 44,000,000 | 116,000,000 | 131,000,000 |
(Gains)/Losses | 52,000,000 | 136,000,000 | 155,000,000 | 526,000,000 |
Separation programs/other | 8,000,000 | 1,000,000 | 9,000,000 | 5,000,000 |
(Gains)/(Losses) from curtailments | 0 | 0 | 0 | 0 |
(Gains)/Losses from settlements | 0 | 145,000,000 | 0 | 439,000,000 |
Net expense/(income) | 45,000,000 | 260,000,000 | 120,000,000 | 845,000,000 |
Non-U.S. Plans | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost | 118,000,000 | 119,000,000 | 356,000,000 | 360,000,000 |
Interest cost | 302,000,000 | 280,000,000 | 904,000,000 | 847,000,000 |
Expected return on assets | -383,000,000 | -339,000,000 | -1,145,000,000 | -1,029,000,000 |
Defined Benefit Plan Amortization Categories [Abstract] | ' | ' | ' | ' |
Prior service costs/(credits) | 15,000,000 | 16,000,000 | 42,000,000 | 49,000,000 |
(Gains)/Losses | 149,000,000 | 170,000,000 | 445,000,000 | 513,000,000 |
Separation programs/other | 15,000,000 | 69,000,000 | 54,000,000 | 220,000,000 |
(Gains)/(Losses) from curtailments | 0 | 0 | 0 | 0 |
(Gains)/Losses from settlements | 0 | 0 | 14,000,000 | 0 |
Net expense/(income) | 216,000,000 | 315,000,000 | 670,000,000 | 960,000,000 |
Worldwide OPEB | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost | 13,000,000 | 16,000,000 | 40,000,000 | 48,000,000 |
Interest cost | 68,000,000 | 63,000,000 | 202,000,000 | 192,000,000 |
Expected return on assets | 0 | 0 | 0 | 0 |
Defined Benefit Plan Amortization Categories [Abstract] | ' | ' | ' | ' |
Prior service costs/(credits) | -58,000,000 | -71,000,000 | -172,000,000 | -213,000,000 |
(Gains)/Losses | 24,000,000 | 39,000,000 | 73,000,000 | 119,000,000 |
Separation programs/other | 1,000,000 | 2,000,000 | 1,000,000 | 2,000,000 |
(Gains)/(Losses) from curtailments | 0 | -2,000,000 | 0 | -2,000,000 |
(Gains)/Losses from settlements | 0 | 0 | 0 | 0 |
Net expense/(income) | 48,000,000 | 47,000,000 | 144,000,000 | 146,000,000 |
Plan Contributions [Abstract] | ' | ' | ' | ' |
Defined Benefit Plan, Estimated Future Employer Contributions To Funded Plans in Current Fiscal Year | 1,500,000,000 | ' | 1,500,000,000 | ' |
Pension And Other Postretirement Expected Benefit Contributions Unfunded Plans | 400,000,000 | ' | 400,000,000 | ' |
Pension and Other Postretirement Benefit Contributions and Expected Future Employer Contributions To Funded and Unfunded Plans | 1,900,000,000 | ' | 1,900,000,000 | ' |
Pension and Other Postretirement Benefit Contributions | ' | ' | 1,100,000,000 | ' |
Pension and Other Postretirement Benefit Contributions Unfunded Plans | ' | ' | $300,000,000 | ' |
Debt_And_Commitments_Debt_Outs
Debt And Commitments - Debt Outstanding (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Debt Outstanding [Abstract] | ' | ' |
Total Debt | $119,193 | $114,688 |
Automotive [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Short-term Debt | 2,727 | 1,257 |
Debt payable after one year | 12,216 | 14,426 |
Total Debt | 14,943 | 15,683 |
Fair value of debt | 17,181 | 17,301 |
Debt Instruments [Abstract] | ' | ' |
Short-term debt carried at cost which approximates fair value | 279 | 377 |
Automotive [Member] | Other debt [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Debt payable within one year | 367 | 104 |
Unamortized (discount)/premium | -2 | 3 |
Debt payable after one year | 947 | 1,255 |
Automotive [Member] | Public Unsecured Debt Securities [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Debt, principal amount | 6,634 | 6,799 |
Unamortized (discount)/premium | -145 | -148 |
Automotive [Member] | Convertible Notes [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Debt, principal amount | 883 | 908 |
Unamortized (discount)/premium | -82 | -110 |
Automotive [Member] | Non-Affiliates [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Short-term Debt | 535 | 562 |
Financial Services [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Short-term Debt | 12,136 | 14,994 |
Unamortized (discount)/premium | -61 | -91 |
Fair value adjustments | 228 | 103 |
Long Term Debt And Capital Lease Obligations Current And Non Current | 92,114 | 84,011 |
Total Debt | 104,250 | 99,005 |
Fair value of debt | 107,094 | 102,399 |
Debt Instruments [Abstract] | ' | ' |
Short-term debt carried at cost which approximates fair value | 10,800 | 9,700 |
Financial Services [Member] | Other debt [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Short-term Debt | 2,935 | 2,345 |
Financial Services [Member] | Asset backed commercial paper [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Short-term Debt | 0 | 3,364 |
Financial Services [Member] | Other asset backed short term debt [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Short-term Debt | 1,375 | 1,963 |
Financial Services [Member] | Floating rate demand notes [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Short-term Debt | 5,689 | 5,319 |
Financial Services [Member] | Commercial Paper [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Short-term Debt | 2,137 | 2,003 |
Financial Services [Member] | Unsecured Debt [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Debt payable within one year | 9,361 | 4,475 |
Debt payable after one year | 41,189 | 38,914 |
Financial Services [Member] | Asset backed-debt [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Debt payable within one year | 16,577 | 17,337 |
Debt payable after one year | 24,820 | 23,273 |
DOE ATVM Incentive Program | Automotive [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Debt payable within one year | 591 | 591 |
Debt payable after one year | 3,981 | 4,424 |
EIB Credit Facilities [Member] | Automotive [Member] | ' | ' |
Debt Outstanding [Abstract] | ' | ' |
Debt payable within one year | 1,231 | 0 |
Unamortized (discount)/premium | 3 | 0 |
Debt payable after one year | $0 | $1,295 |
Income_Effect_of_Derivative_Fi
Income Effect of Derivative Financial Instruments (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Automotive [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain/(Loss) Recognized in Income | $79 | $7 | $213 | ($151) |
Automotive [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Foreign currency exchange contracts [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain/(Loss) Reclassified from AOCI to Income | -61 | 23 | 99 | -105 |
Gain/(Loss) Recorded in OCI | -128 | -126 | -336 | 169 |
Automotive [Member] | Not Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain/(Loss) Recognized in Income | 168 | -24 | 107 | 21 |
Automotive [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain/(Loss) Recognized in Income | -28 | 8 | 7 | -67 |
Financial Services [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain/(Loss) Recognized in Income | 237 | -145 | 315 | 128 |
Financial Services [Member] | Designated as Hedging Instrument [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments | -88 | 67 | 179 | -501 |
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | 86 | -70 | -171 | 468 |
Financial Services [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Interest rate contracts [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Net interest settlements and accruals excluded from the assessment of hedge effectiveness | 79 | 63 | 220 | 186 |
Ineffectiveness | -2 | -3 | 8 | -33 |
Financial Services [Member] | Not Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain/(Loss) Recognized in Income | 52 | -55 | 22 | 37 |
Financial Services [Member] | Not Designated as Hedging Instrument [Member] | Interest rate contracts [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain/(Loss) Recognized in Income | -10 | -19 | -37 | -25 |
Financial Services [Member] | Not Designated as Hedging Instrument [Member] | Cross-currency interest rate swap contracts [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Gain/(Loss) Recognized in Income | $118 | ($131) | $102 | ($37) |
Balance_Sheet_Effect_of_Deriva
Balance Sheet Effect of Derivative Financial Instruments (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Automotive [Member] | ' | ' |
Balance Sheet Effect of Derivative Instruments [Abstract] | ' | ' |
Notional | $31,286 | $30,843 |
Fair Value of Assets | 537 | 580 |
Fair Value of Liabilities | 699 | 418 |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | -480 | -359 |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | -480 | -359 |
Derivative Asset | 57 | 221 |
Derivative Liability | 219 | 59 |
Automotive [Member] | Foreign currency exchange contracts [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Balance Sheet Effect of Derivative Instruments [Abstract] | ' | ' |
Notional | 13,406 | 11,599 |
Fair Value of Assets | 291 | 144 |
Fair Value of Liabilities | 186 | 210 |
Automotive [Member] | Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Balance Sheet Effect of Derivative Instruments [Abstract] | ' | ' |
Notional | 675 | 3,006 |
Fair Value of Assets | 13 | 23 |
Fair Value of Liabilities | 21 | 19 |
Automotive [Member] | Cash Flow Hedging [Member] | Foreign currency exchange contracts [Member] | Designated as Hedging Instrument [Member] | ' | ' |
Balance Sheet Effect of Derivative Instruments [Abstract] | ' | ' |
Notional | 17,205 | 16,238 |
Fair Value of Assets | 233 | 413 |
Fair Value of Liabilities | 492 | 189 |
Financial Services [Member] | ' | ' |
Balance Sheet Effect of Derivative Instruments [Abstract] | ' | ' |
Notional | 84,387 | 93,671 |
Fair Value of Assets | 751 | 585 |
Fair Value of Liabilities | 291 | 506 |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | -240 | -296 |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | -240 | -296 |
Derivative Asset | 511 | 289 |
Derivative Liability | 51 | 210 |
Financial Services [Member] | Foreign currency exchange contracts [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Balance Sheet Effect of Derivative Instruments [Abstract] | ' | ' |
Notional | 2,324 | 2,410 |
Fair Value of Assets | 56 | 1 |
Fair Value of Liabilities | 12 | 25 |
Financial Services [Member] | Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Balance Sheet Effect of Derivative Instruments [Abstract] | ' | ' |
Notional | 56,607 | 69,863 |
Fair Value of Assets | 254 | 224 |
Fair Value of Liabilities | 78 | 126 |
Financial Services [Member] | Cross-currency interest rate swap contracts [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Balance Sheet Effect of Derivative Instruments [Abstract] | ' | ' |
Notional | 2,513 | 2,620 |
Fair Value of Assets | 17 | 0 |
Fair Value of Liabilities | 44 | 176 |
Financial Services [Member] | Fair Value Hedging [Member] | Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | ' | ' |
Balance Sheet Effect of Derivative Instruments [Abstract] | ' | ' |
Notional | 22,943 | 18,778 |
Fair Value of Assets | 424 | 360 |
Fair Value of Liabilities | $157 | $179 |
Redeemable_Noncontrolling_Inte2
Redeemable Noncontrolling Interest (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 01, 2012 | Sep. 30, 2014 | Sep. 01, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
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] | Interest Expense [Member] | Interest Expense [Member] | Income (loss) attributable to Non-controlling interest [Member] | Income (loss) attributable to Non-controlling interest [Member] | ||
Mazda [Member] | Mazda [Member] | Auto Alliance International [Member] | Auto Alliance International [Member] | Auto Alliance International [Member] | Auto Alliance International [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 | 339 | 331 | 331 | 322 | ' | ' | ' | ' | ' | ' | ' |
Accretion of redemption value of noncontrolling interest | ' | ' | 11 | 7 | ' | ' | ' | 7 | 7 | 4 | 0 |
Payments | ' | ' | -3 | 0 | ' | ' | ' | ' | ' | ' | ' |
Ending balance | $339 | $331 | $339 | $329 | ' | ' | ' | ' | ' | ' | ' |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income/(Loss) (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Foreign currency transaction | ' | ' | ' | ' | ' |
Reclassifications to net income | ' | $103 | ' | ' | ' |
Other comprehensive income/(loss), net of tax | -550 | 313 | -468 | -483 | ' |
Derivative instruments | ' | ' | ' | ' | ' |
Other comprehensive income/(loss), net of tax | -48 | -95 | -243 | 191 | ' |
Pension and other postretirement benefits | ' | ' | ' | ' | ' |
Other comprehensive income/(loss), net of tax | -540 | -109 | -776 | -1,640 | ' |
Total AOCI ending balance | -18,165 | ' | -18,165 | ' | -18,230 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest [Abstract] | ' | ' | ' | ' | ' |
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | -206 | ' | ' | ' | ' |
Parent Company [Member] | ' | ' | ' | ' | ' |
Foreign currency transaction | ' | ' | ' | ' | ' |
Beginning balance | -1,664 | -2,041 | -1,746 | -1,245 | ' |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss), before Reclassification and Tax | -550 | 210 | -434 | -594 | ' |
Net gain/(loss) on foreign currency translation, tax (tax benefit) | 0 | 0 | 53 | 0 | ' |
Net gain/(loss) on foreign currency translation | -550 | 210 | -487 | -594 | ' |
Reclassifications to net income | 0 | 103 | 19 | 111 | ' |
Other comprehensive income/(loss), net of tax | -550 | 313 | -468 | -483 | ' |
Ending balance | -2,214 | -1,728 | -2,214 | -1,728 | ' |
Derivative instruments | ' | ' | ' | ' | ' |
Beginning balance | -155 | 111 | 40 | -175 | ' |
Gain (Loss) on Derivative Instruments, Net, Pretax | -128 | -126 | -336 | 169 | ' |
Net gain/(loss) on derivative instruments, tax (tax benefit) | -35 | -42 | -125 | 52 | ' |
Net gain/(loss) on derivative instruments | -93 | -84 | -211 | 117 | ' |
Derivative Instruments, (Gain) Loss Reclassified from Accumulated OCI into Income, Effective Portion, Net | 61 | -23 | -99 | 102 | ' |
Reclassifications to net income, tax (tax benefit) | 16 | -12 | -67 | 28 | ' |
Reclassifications to net income | 45 | -11 | -32 | 74 | ' |
Other comprehensive income/(loss), net of tax | -48 | -95 | -243 | 191 | ' |
Ending balance | -203 | 16 | -203 | 16 | ' |
Pension and other postretirement benefits | ' | ' | ' | ' | ' |
Beginning balance | -16,288 | -19,907 | -16,524 | -21,438 | ' |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, before Tax | 0 | 75 | -13 | 769 | ' |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Tax (tax benefit) | 0 | 35 | -5 | 271 | ' |
Net gain/(loss) arising during the period | 0 | 40 | -8 | 498 | ' |
Amortization of Prior Service Cost (Credit) | -5 | -11 | -14 | -33 | ' |
Amortization of (Gains)/Losses | 225 | 345 | 673 | 1,158 | ' |
(Gains)/Losses from settlements | 0 | 145 | 14 | 439 | ' |
(Gains)/Losses from curtailments | 0 | -2 | 0 | -2 | ' |
Other Comprehensive Income Loss Reclassification Adjustment From AOCI Pension And Other Postretirement Benefit Plans Tax (Tax Benefits) (excluding gains and losses arising during period) | 52 | 120 | 185 | 460 | ' |
Amortization of (gain)/loss included in net income | 168 | 357 | 488 | 1,102 | ' |
Translation impact on non-U.S. plans | 372 | -288 | 296 | 40 | ' |
Other comprehensive income/(loss), net of tax | 540 | 109 | 776 | 1,640 | ' |
Ending balance | -15,748 | -19,798 | -15,748 | -19,798 | ' |
Total AOCI ending balance | ($18,165) | ($21,510) | ($18,165) | ($21,510) | ' |
Other_Income_and_Loss_Details
Other Income and Loss (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Other Income and Loss [Abstract] | ' | ' | ' | ' |
Total | $255 | $200 | $739 | $686 |
Total | 90 | 100 | 245 | 270 |
Automotive [Member] | ' | ' | ' | ' |
Other Income and Loss [Abstract] | ' | ' | ' | ' |
Interest Income | 65 | 38 | 145 | 125 |
Unrecognized Tax Benefits Interest Income | -3 | 0 | 34 | 0 |
Realized and unrealized gains/(losses) on cash equivalents and marketable securities | 7 | 67 | 7 | 147 |
Gains/(Losses) on changes in investments in affiliates | 0 | -104 | 1 | -114 |
Gains (Losses) on Extinguishment of Debt | 0 | 0 | -5 | -18 |
Royalty income | 142 | 148 | 444 | 409 |
Other | 44 | 51 | 113 | 137 |
Total | 255 | 200 | 739 | 686 |
Financial Services [Member] | ' | ' | ' | ' |
Other Income and Loss [Abstract] | ' | ' | ' | ' |
Interest Income | 14 | 12 | 35 | 40 |
Unrecognized Tax Benefits Interest Income | 1 | 0 | -9 | 0 |
Realized and unrealized gains/(losses) on cash equivalents and marketable securities | -1 | 5 | 7 | -2 |
Insurance premiums earned | 31 | 28 | 94 | 87 |
Other | 45 | 55 | 118 | 145 |
Total | $90 | $100 | $245 | $270 |
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, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Ford Europe [Member] | Facility Closing [Member] | ' | ' | ' | ' |
Business Restructuring - Europe [Abstract] | ' | ' | ' | ' |
Pension-related expenses | $6,000,000 | $48,000,000 | $18,000,000 | $180,000,000 |
Restructuring Reserve [Roll Forward] | ' | ' | ' | ' |
Beginning Balance | 643,000,000 | 287,000,000 | 497,000,000 | 0 |
Change in accruals | 146,000,000 | 196,000,000 | 365,000,000 | 483,000,000 |
Payments | -30,000,000 | -93,000,000 | -99,000,000 | -95,000,000 |
Foreign Currency Translation | -57,000,000 | 11,000,000 | -61,000,000 | 13,000,000 |
Ending Balance | 702,000,000 | 401,000,000 | 702,000,000 | 401,000,000 |
Restructuring and Related Cost, Total Expected Cost, Excluding Pension | ' | ' | 1,100,000,000 | ' |
Restructuring And Related Cost, Total Expected Cost, Pension | ' | ' | $200,000,000 | ' |
Income_Taxes_Details
Income Taxes (Details) (International [Member], Financial Services [Member], USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2014 |
International [Member] | Financial Services [Member] | ' |
Income Taxes [Line Items] | ' |
Current Foreign Tax Expense (Benefit) | $245 |
Changes_in_Investments_in_Affi1
Changes in Investments in Affiliates and Assets Held for Sale (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Changes in Investment in Affiliates [Abstract] | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax | ' | ($103) | ' | ' |
Equity Method Investment, Other than Temporary Impairment | 329 | ' | ' | ' |
Weighted Average Discount Rate, Percent | 15.00% | ' | ' | ' |
Assets Held For Sale [Abstract] | ' | ' | ' | ' |
Proceeds from Sale of Finance Receivables | ' | ' | 0 | 410 |
Consumer [Member] | ' | ' | ' | ' |
Assets Held For Sale [Abstract] | ' | ' | ' | ' |
Proceeds from Sale of Finance Receivables | ' | 160 | ' | 410 |
Gain (Loss) on Sale of Notes Receivable | ' | 2 | ' | 7 |
Other Expenses Related to the Sale of Finance Receivables | ' | ' | ' | $56 |
Capital_Stock_and_Amounts_Per_2
Capital Stock and Amounts Per Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Stock Repurchase Program [Abstract] | ' | ' | ' | ' | ' |
Treasury Stock, Value | $2,470 | ' | $2,470 | ' | $506 |
Basic and Diluted Income Attributable to Ford Motor Company [Abstract] | ' | ' | ' | ' | ' |
Basic income | 835 | 1,272 | 3,135 | 4,116 | ' |
Diluted income | 847 | 1,282 | 3,171 | 4,150 | ' |
Basic and Diluted Shares [Abstract] | ' | ' | ' | ' | ' |
Basic shares (average shares outstanding) | 3,861 | 3,942 | 3,915 | 3,933 | ' |
Net dilutive options and warrants | 48 | 53 | 47 | 52 | ' |
Diluted shares | 4,010 | 4,096 | 4,062 | 4,086 | ' |
Convertible 2016 Notes [Member] | ' | ' | ' | ' | ' |
Basic and Diluted Income Attributable to Ford Motor Company [Abstract] | ' | ' | ' | ' | ' |
Effect of dilutive Convertible Notes | 12 | 10 | 36 | 33 | ' |
Basic and Diluted Shares [Abstract] | ' | ' | ' | ' | ' |
Dilutive Convertible Notes | 101 | 98 | 100 | 98 | ' |
Convertible 2036 Notes [Member] | ' | ' | ' | ' | ' |
Basic and Diluted Income Attributable to Ford Motor Company [Abstract] | ' | ' | ' | ' | ' |
Effect of dilutive Convertible Notes | $0 | $0 | $0 | $1 | ' |
Basic and Diluted Shares [Abstract] | ' | ' | ' | ' | ' |
Dilutive Convertible Notes | 0 | 3 | 0 | 3 | ' |
Automotive [Member] | Convertible Notes [Member] | ' | ' | ' | ' | ' |
Stock Repurchase Program [Abstract] | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 4.25% | ' | 4.25% | ' | ' |
May 7, 2014 Stock Repurchase Program [Member] | Common Stock [Member] | ' | ' | ' | ' | ' |
Amounts Per Share [Line Items] | ' | ' | ' | ' | ' |
Treasury Stock, Shares, Acquired | ' | ' | 116 | ' | ' |
Percent of Shares Outstanding, Diluted | ' | ' | 3.00% | ' | ' |
Share-based Employee Incentive [Member] | May 7, 2014 Stock Repurchase Program [Member] | Common Stock [Member] | ' | ' | ' | ' | ' |
Amounts Per Share [Line Items] | ' | ' | ' | ' | ' |
Treasury Stock, Shares, Acquired | ' | ' | 12.6 | ' | ' |
Convertible Note 2016,offset [Member] | May 7, 2014 Stock Repurchase Program [Member] | Common Stock [Member] | ' | ' | ' | ' | ' |
Amounts Per Share [Line Items] | ' | ' | ' | ' | ' |
Treasury Stock, Shares, Acquired | ' | ' | 103 | ' | ' |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | $32,779 | $33,857 | $102,020 | $103,794 | ' |
Revenues | 2,141 | 1,918 | 6,187 | 5,553 | ' |
Revenues | 34,920 | 35,775 | 108,207 | 109,347 | ' |
Income (Loss) before income taxes | 1,021 | 2,091 | 4,398 | 6,033 | ' |
Total assets | 208,835 | 199,782 | 208,835 | 199,782 | 202,179 |
Automotive [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 32,779 | 33,857 | 102,020 | 103,794 | ' |
Income (Loss) before income taxes | 526 | 1,728 | 3,012 | 4,716 | ' |
Total assets | 91,273 | 91,335 | 91,273 | 91,335 | 90,479 |
Automotive [Member] | Ford North America [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 19,942 | 21,121 | 61,495 | 64,459 | ' |
Income (Loss) before income taxes | 1,410 | 2,296 | 5,350 | 7,009 | ' |
Total assets | 60,158 | 59,059 | 60,158 | 59,059 | ' |
Automotive [Member] | Ford South America [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 2,335 | 2,820 | 6,337 | 8,142 | ' |
Income (Loss) before income taxes | -170 | 160 | -975 | 93 | ' |
Total assets | 6,710 | 7,108 | 6,710 | 7,108 | ' |
Automotive [Member] | Ford Europe [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 6,844 | 6,400 | 22,680 | 20,328 | ' |
Income (Loss) before income taxes | -439 | -182 | -619 | -913 | ' |
Total assets | 15,079 | 16,090 | 15,079 | 16,090 | ' |
Automotive [Member] | Asia Pacific [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 2,581 | 2,495 | 8,104 | 7,354 | ' |
Income (Loss) before income taxes | 44 | 116 | 494 | 218 | ' |
Total assets | 8,068 | 7,931 | 8,068 | 7,931 | ' |
Automotive [Member] | Middle East and Africa [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 1,077 | 1,021 | 3,404 | 3,511 | ' |
Income (Loss) before income taxes | -15 | -25 | 62 | 35 | ' |
Total assets | 1,258 | 1,147 | 1,258 | 1,147 | ' |
Automotive [Member] | Other Automotive [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 0 | 0 | 0 | 0 | ' |
Income (Loss) before income taxes | -144 | -139 | -537 | -469 | ' |
Total assets | 0 | 0 | 0 | 0 | ' |
Automotive [Member] | Special Items [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 0 | 0 | 0 | 0 | ' |
Income (Loss) before income taxes | -160 | -498 | -763 | -1,257 | ' |
Total assets | 0 | 0 | 0 | 0 | ' |
Financial Services [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 2,141 | 1,918 | 6,187 | 5,553 | ' |
Income (Loss) before income taxes | 495 | 363 | 1,386 | 1,317 | ' |
Total assets | 120,472 | 110,637 | 120,472 | 110,637 | 115,057 |
Financial Services [Member] | Ford Credit [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 2,214 | 1,974 | 6,427 | 5,735 | ' |
Income (Loss) before income taxes | 498 | 427 | 1,431 | 1,388 | ' |
Total assets | 121,216 | 111,834 | 121,216 | 111,834 | ' |
Financial Services [Member] | Other Financial Services [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 37 | 45 | 105 | 158 | ' |
Income (Loss) before income taxes | -3 | -64 | -45 | -71 | ' |
Total assets | 5,577 | 5,749 | 5,577 | 5,749 | ' |
Financial Services [Member] | Elims [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | -110 | -101 | -345 | -340 | ' |
Income (Loss) before income taxes | 0 | 0 | 0 | 0 | ' |
Total assets | -6,321 | -6,946 | -6,321 | -6,946 | ' |
Intersector [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Total assets | 210,598 | ' | 210,598 | ' | 203,905 |
Intersector [Member] | Elims [Member] | ' | ' | ' | ' | ' |
Segment Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 0 | 0 | 0 | 0 | ' |
Income (Loss) before income taxes | 0 | 0 | 0 | 0 | ' |
Total assets | ($2,910) | ($2,190) | ($2,910) | ($2,190) | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies (Details) (USD $) | 9 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | |
Affiliated Entity [Member] | Affiliated Entity [Member] | |||
Guarantees [Abstract] | ' | ' | ' | ' |
Maximum potential payments | ' | ' | $601,000,000 | $659,000,000 |
Carrying value of recorded liabilities related to guarantees and indemnifications | ' | ' | 9,000,000 | 5,000,000 |
Loss Contingency [Abstract] | ' | ' | ' | ' |
Loss contingency estimate | 3,000,000,000 | ' | ' | ' |
Warranty [Abstract] | ' | ' | ' | ' |
Product warranty reserve, beginning balance | 3,927,000,000 | 3,656,000,000 | ' | ' |
Payments made during the period | -2,186,000,000 | -1,763,000,000 | ' | ' |
Changes in accrual related to warranties issued during the period | 1,506,000,000 | 1,471,000,000 | ' | ' |
Changes in accrual related to pre-existing warranties | 1,522,000,000 | 227,000,000 | ' | ' |
Foreign currency translation and other | -67,000,000 | -54,000,000 | ' | ' |
Product warranty reserve, ending balance | $4,702,000,000 | $3,537,000,000 | ' | ' |