DOCUMENT AND ENTITY INFORMATION
DOCUMENT AND ENTITY INFORMATION Document - shares | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2015 | Oct. 20, 2015 | |
Document Type | 10-Q | ||
Amendment Flag | false | ||
Document Period End Date | Sep. 30, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | Q3 | ||
Entity Registrant Name | FORD MOTOR CO | ||
Entity Central Index Key | 37,996 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Trading Symbol | F | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Common Stock [Member] | |||
Entity Common Stock, Shares Outstanding | 3,897,778,098 | ||
Class B Stock [Member] | |||
Entity Common Stock, Shares Outstanding | 70,852,076 |
CONSOLIDATED AND SECTOR INCOME
CONSOLIDATED AND SECTOR INCOME STATEMENT - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Revenues | ||||
Automotive | $ 35,818 | $ 32,779 | $ 102,723 | $ 102,020 |
Financial Services | 2,326 | 2,141 | 6,584 | 6,187 |
Total revenues | 38,144 | 34,920 | 109,307 | 108,207 |
Costs and expenses | ||||
Automotive cost of sales | 31,493 | 30,197 | 90,797 | 92,465 |
Selling, administrative and other expenses | 3,731 | 3,484 | 11,058 | 10,332 |
Total costs and expenses | 35,936 | 34,428 | 104,000 | 105,048 |
Automotive interest income and other income/(loss), net | 446 | 255 | 908 | 739 |
Financial Services other income/(loss), net | 97 | 90 | 241 | 245 |
Equity in net income/(loss) of affiliated companies | 314 | 388 | 1,237 | 874 |
Income before income taxes | 2,859 | 1,021 | 7,132 | 4,398 |
Provision for/(Benefit from) income taxes | 950 | 188 | 2,412 | 1,261 |
Net income | 1,909 | 833 | 4,720 | 3,137 |
Less: Income/(Loss) attributable to noncontrolling interests | 0 | (2) | 2 | 2 |
Net income attributable to Ford Motor Company | $ 1,909 | $ 835 | $ 4,718 | $ 3,135 |
Basic income | ||||
Basic income (in dollars per share) | $ 0.48 | $ 0.22 | $ 1.19 | $ 0.80 |
Diluted income | ||||
Diluted income (in dollars per share) | 0.48 | 0.21 | 1.18 | 0.78 |
Cash dividends declared | $ 0.15 | $ 0.125 | $ 0.45 | $ 0.375 |
Automotive [Member] | ||||
Revenues | ||||
Automotive | $ 35,818 | $ 32,779 | $ 102,723 | $ 102,020 |
Costs and expenses | ||||
Automotive cost of sales | 31,493 | 30,197 | 90,797 | 92,465 |
Selling, administrative and other expenses | 2,538 | 2,489 | 7,840 | 7,516 |
Total costs and expenses | 34,031 | 32,686 | 98,637 | 99,981 |
Interest expense | 206 | 204 | 561 | 619 |
Automotive interest income and other income/(loss), net | 446 | 255 | 908 | 739 |
Equity in net income/(loss) of affiliated companies | 306 | 382 | 1,213 | 853 |
Income before income taxes | 2,333 | 526 | 5,646 | 3,012 |
Financial Services [Member] | ||||
Revenues | ||||
Financial Services | 2,326 | 2,141 | 6,584 | 6,187 |
Costs and expenses | ||||
Interest expense | 592 | 673 | 1,846 | 2,034 |
Depreciation on vehicles subject to operating leases | 956 | 808 | 2,630 | 2,256 |
Operating and other expenses | 237 | 187 | 588 | 560 |
Financial Services provision for credit and insurance losses | 120 | 74 | 299 | 217 |
Total costs and expenses | 1,905 | 1,742 | 5,363 | 5,067 |
Financial Services other income/(loss), net | 97 | 90 | 241 | 245 |
Equity in net income/(loss) of affiliated companies | 8 | 6 | 24 | 21 |
Income before income taxes | $ 526 | $ 495 | $ 1,486 | $ 1,386 |
CONSOLIDATED STATEMENT OF COMPR
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Net income | $ 1,909 | $ 833 | $ 4,720 | $ 3,137 |
Foreign currency translation | (1,036) | (550) | (1,344) | (468) |
Derivative instruments | 374 | (48) | 208 | (243) |
Pension and other postretirement benefits | 481 | 540 | 726 | 776 |
Total other comprehensive income/(loss), net of tax | (181) | (58) | (410) | 65 |
Comprehensive income | 1,728 | 775 | 4,310 | 3,202 |
Less: Comprehensive income/(loss) attributable to noncontrolling interests | 1 | (2) | 2 | 2 |
Comprehensive income attributable to Ford Motor Company | $ 1,727 | $ 777 | $ 4,308 | $ 3,200 |
CONSOLIDATED AND SECTOR BALANCE
CONSOLIDATED AND SECTOR BALANCE SHEET - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
ASSETS | ||
Cash and cash equivalents | $ 14,686 | $ 10,757 |
Marketable securities | 17,161 | 20,393 |
Finance receivables, net | 85,208 | 81,111 |
Other receivables, net | 13,373 | 11,708 |
Net investment in operating leases | 26,907 | 23,217 |
Inventories | 9,496 | 7,866 |
Equity in net assets of affiliated companies | 3,505 | 3,357 |
Net property | 30,137 | 30,126 |
Deferred income taxes | 11,434 | 13,639 |
Other assets | 7,524 | 6,353 |
Total assets | 219,431 | 208,527 |
LIABILITIES | ||
Payables | 22,386 | 20,035 |
Other liabilities and deferred revenue | 42,513 | 43,577 |
Debt | 126,425 | 119,171 |
Deferred income taxes | 529 | 570 |
Total liabilities | 191,853 | 183,353 |
Redeemable noncontrolling interest | 94 | 342 |
EQUITY | ||
Capital in excess of par value of stock | 21,354 | 21,089 |
Retained earnings | 27,489 | 24,556 |
Accumulated other comprehensive income/(loss) | (20,442) | (20,032) |
Treasury stock | (977) | (848) |
Total equity attributable to Ford Motor Company | 27,465 | 24,805 |
Equity attributable to noncontrolling interests | 19 | 27 |
Total equity | 27,484 | 24,832 |
Total liabilities and equity | 219,431 | 208,527 |
Common Stock [Member] | ||
EQUITY | ||
Common and Class B Stock | 40 | 39 |
Class B Stock [Member] | ||
EQUITY | ||
Common and Class B Stock | 1 | 1 |
Intersector [Member] | ||
ASSETS | ||
Deferred income taxes | 14,502 | 15,555 |
Total assets | 222,499 | 210,443 |
LIABILITIES | ||
Deferred income taxes | 3,597 | 2,486 |
Total liabilities | 194,921 | 185,269 |
EQUITY | ||
Total liabilities and equity | 222,499 | 210,443 |
Automotive [Member] | ||
ASSETS | ||
Cash and cash equivalents | 7,773 | 4,567 |
Marketable securities | 14,404 | 17,135 |
Total cash and marketable securities | 22,177 | 21,702 |
Receivables, less allowances | 5,827 | 5,789 |
Inventories | 9,496 | 7,866 |
Deferred income taxes | 2,885 | 2,039 |
Net investment in operating leases | 2,397 | 1,699 |
Other current assets | 1,588 | 1,347 |
Total current assets | 44,370 | 40,442 |
Equity in net assets of affiliated companies | 3,356 | 3,216 |
Net property | 30,003 | 29,795 |
Deferred income taxes | 11,453 | 13,331 |
Other assets | 3,544 | 2,798 |
Non-current receivable from Financial Services | 0 | 497 |
Total assets | 92,726 | 90,079 |
LIABILITIES | ||
Payables | 21,095 | 18,876 |
Other Liabilities and deferred revenue | 17,509 | 17,934 |
Other liabilities and deferred revenue | 40,719 | 41,727 |
Debt | 12,798 | 13,824 |
Deferred income taxes | 263 | 270 |
Debt payable within one year | 1,590 | 2,501 |
Current payable to Financial Services | 555 | 527 |
Total current liabilities | 41,012 | 40,108 |
Long-term Debt | 11,208 | 11,323 |
Other liabilities and deferred revenue, non-current | 23,210 | 23,793 |
Deferred income taxes | 388 | 367 |
Non-current payable to Financial Services | 298 | 0 |
Total liabilities | 76,116 | 75,591 |
Financial Services [Member] | ||
ASSETS | ||
Cash and cash equivalents | 6,913 | 6,190 |
Marketable securities | 2,757 | 3,258 |
Finance receivables, net | 91,968 | 86,141 |
Net investment in operating leases | 24,510 | 21,518 |
Equity in net assets of affiliated companies | 149 | 141 |
Other assets | 3,476 | 3,613 |
Receivable from Automotive | 853 | 527 |
Total assets | 130,626 | 121,388 |
LIABILITIES | ||
Payables | 1,291 | 1,159 |
Other liabilities and deferred revenue | 1,794 | 1,850 |
Debt | 113,627 | 105,347 |
Deferred income taxes | 2,946 | 1,849 |
Other liabilities and deferred income | 1,794 | 1,850 |
Payable to Automotive | 0 | 497 |
Total liabilities | 119,658 | 110,702 |
Intersector Eliminations [Member] | ||
ASSETS | ||
Deferred income taxes | (3,068) | (1,916) |
Total assets | (853) | (1,024) |
LIABILITIES | ||
Deferred income taxes | (3,068) | (1,916) |
Total liabilities | (853) | (1,024) |
Variable Interest Entity, Primary Beneficiary [Member] | ||
ASSETS | ||
Cash and cash equivalents | 2,443 | 2,094 |
Finance receivables, net | 44,036 | 39,522 |
Net investment in operating leases | 11,266 | 9,631 |
Other assets | 64 | 27 |
LIABILITIES | ||
Other liabilities and deferred revenue | 30 | 22 |
Debt | $ 41,712 | $ 37,156 |
CONSOLIDATED AND SECTOR BALANC5
CONSOLIDATED AND SECTOR BALANCE SHEET (Parenthetical) - USD ($) shares in Millions, $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Common Stock [Member] | ||
EQUITY | ||
Common Stock, par value (in dollars per share) | $ 0.01 | |
Common Stock, shares issued (in shares) | 3,960 | |
Common Stock, Shares Authorized (in shares) | 6,000 | |
Class B Stock [Member] | ||
EQUITY | ||
Common Stock, par value (in dollars per share) | $ 0.01 | |
Common Stock, shares issued (in shares) | 71 | |
Common Stock, Shares Authorized (in shares) | 530 | |
Automotive [Member] | ||
ASSETS | ||
Allowance for receivables | $ 387 | $ 455 |
CONDENSED CONSOLIDATED AND SECT
CONDENSED CONSOLIDATED AND SECTOR STATEMENT OF CASH FLOWS - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Cash flows from operating activities | ||
Net cash provided by/(used in) operating activities | $ 14,078 | $ 12,339 |
Cash flows from investing activities | ||
Capital spending | (5,358) | (5,309) |
Acquisitions of finance receivables and operating leases | (43,762) | (39,368) |
Collections of finance receivables and operating leases | 28,632 | 27,607 |
Purchases of marketable securities | (29,493) | (37,788) |
Sales and maturities of marketable securities | 32,874 | 39,153 |
Settlements of derivatives | 26 | (46) |
Other | 417 | 157 |
Net cash provided by/(used in) investing activities | (16,664) | (15,594) |
Cash flows from financing activities | ||
Cash dividends | (1,785) | (1,470) |
Purchases of Common Stock | (129) | (1,964) |
Net changes in short-term debt | 844 | (2,792) |
Proceeds from issuance of other debt | 35,876 | 31,107 |
Principal payments on other debt | (27,366) | (22,504) |
Other | (303) | 36 |
Net cash provided by/(used in) financing activities | 7,137 | 2,413 |
Effect of exchange rate changes on cash and cash equivalents | (622) | (306) |
Net increase/(decrease) in cash and cash equivalents | 3,929 | (1,148) |
Cash and cash equivalents | ||
Cash and cash equivalents at January 1 | 10,757 | 14,468 |
Net increase/(decrease) in cash and cash equivalents | 3,929 | (1,148) |
Cash and cash equivalents at end of period | 14,686 | 13,320 |
Automotive [Member] | ||
Cash flows from operating activities | ||
Net cash provided by/(used in) operating activities | 8,749 | 6,733 |
Cash flows from investing activities | ||
Capital spending | (5,324) | (5,236) |
Acquisitions of finance receivables and operating leases | 0 | 0 |
Collections of finance receivables and operating leases | 0 | 0 |
Net change in wholesale and other receivables | 0 | 0 |
Purchases of marketable securities | (21,748) | (26,836) |
Sales and maturities of marketable securities | 24,636 | 30,061 |
Settlements of derivatives | (90) | 115 |
Other | 362 | 55 |
Investing activity (to)/from Financial Services | 2 | 178 |
Interest Supplements And Residual Value Support From Automotive | 0 | 0 |
Net cash provided by/(used in) investing activities | (2,162) | (1,663) |
Cash flows from financing activities | ||
Cash dividends | (1,785) | (1,470) |
Purchases of Common Stock | (129) | (1,964) |
Net changes in short-term debt | 385 | 22 |
Proceeds from issuance of other debt | 615 | 156 |
Principal payments on other debt | (1,945) | (829) |
Other | (219) | 122 |
Financing activity to/(from) Automotive | 0 | 0 |
Net cash provided by/(used in) financing activities | (3,078) | (3,963) |
Effect of exchange rate changes on cash and cash equivalents | (303) | (86) |
Net increase/(decrease) in cash and cash equivalents | 3,206 | 1,021 |
Cash and cash equivalents | ||
Cash and cash equivalents at January 1 | 4,567 | 4,959 |
Net increase/(decrease) in cash and cash equivalents | 3,206 | 1,021 |
Cash and cash equivalents at end of period | 7,773 | 5,980 |
Interest Supplements And Residual Value Support to Financial Services | 2,584 | 2,457 |
Financial Services [Member] | ||
Cash flows from operating activities | ||
Net cash provided by/(used in) operating activities | 4,297 | 3,878 |
Cash flows from investing activities | ||
Capital spending | (34) | (73) |
Acquisitions of finance receivables and operating leases | (43,762) | (39,368) |
Collections of finance receivables and operating leases | 28,632 | 27,607 |
Net change in wholesale and other receivables | (1,552) | (729) |
Purchases of marketable securities | (7,745) | (10,952) |
Sales and maturities of marketable securities | 8,238 | 9,092 |
Settlements of derivatives | 116 | (161) |
Other | 55 | 102 |
Investing activity (to)/from Financial Services | 0 | 0 |
Interest Supplements And Residual Value Support From Automotive | 2,584 | 2,457 |
Net cash provided by/(used in) investing activities | (13,468) | (12,025) |
Cash flows from financing activities | ||
Cash dividends | 0 | 0 |
Purchases of Common Stock | 0 | 0 |
Net changes in short-term debt | 459 | (2,814) |
Proceeds from issuance of other debt | 35,261 | 30,951 |
Principal payments on other debt | (25,421) | (21,675) |
Other | (84) | (86) |
Financing activity to/(from) Automotive | (2) | (178) |
Net cash provided by/(used in) financing activities | 10,213 | 6,198 |
Effect of exchange rate changes on cash and cash equivalents | (319) | (220) |
Net increase/(decrease) in cash and cash equivalents | 723 | (2,169) |
Cash and cash equivalents | ||
Cash and cash equivalents at January 1 | 6,190 | 9,509 |
Net increase/(decrease) in cash and cash equivalents | 723 | (2,169) |
Cash and cash equivalents at end of period | $ 6,913 | $ 7,340 |
CONSOLIDATED STATEMENT OF EQUIT
CONSOLIDATED STATEMENT OF EQUITY - USD ($) $ in Millions | Total | Parent [Member] | Capital Stock [Member] | Capital in Excess of Par Value of Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Equity Attributable to Non-controlling Interests [Member] |
Equity/(deficit) attributable to Ford Motor Company at Dec. 31, 2013 | $ 26,112 | $ 40 | $ 21,422 | $ 23,386 | $ (18,230) | $ (506) | ||
Equity/(Deficit) attributable to noncontrolling interests at Dec. 31, 2013 | 33 | |||||||
Total equity/(deficit) at Dec. 31, 2013 | 26,145 | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income attributable to Ford Motor Company | 3,135 | 3,135 | ||||||
Income/(Loss) attributable to noncontrolling interests | 2 | |||||||
Net income | 3,137 | |||||||
Other comprehensive income/(loss), net of tax | 65 | $ 65 | 65 | |||||
Common stock issued (including share-based compensation impacts) | 258 | 258 | 258 | |||||
Treasury stock/other | (1,968) | (1,964) | (1,964) | $ (4) | ||||
Cash dividends declared | (1,472) | (1,470) | (1,470) | (2) | ||||
Equity/(deficit) attributable to Ford Motor Company at Sep. 30, 2014 | 26,136 | 40 | 21,680 | 25,051 | (18,165) | (2,470) | ||
Equity/(Deficit) attributable to noncontrolling interests at Sep. 30, 2014 | 29 | |||||||
Total equity/(deficit) at Sep. 30, 2014 | 26,165 | |||||||
Equity/(deficit) attributable to Ford Motor Company at Dec. 31, 2014 | 24,805 | 40 | 21,089 | 24,556 | (20,032) | (848) | ||
Equity/(Deficit) attributable to noncontrolling interests at Dec. 31, 2014 | 27 | |||||||
Total equity/(deficit) at Dec. 31, 2014 | 24,832 | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income attributable to Ford Motor Company | 4,718 | 4,718 | ||||||
Income/(Loss) attributable to noncontrolling interests | 2 | |||||||
Net income | 4,720 | |||||||
Other comprehensive income/(loss), net of tax | (410) | (410) | (410) | |||||
Common stock issued (including share-based compensation impacts) | 266 | 266 | 1 | 265 | ||||
Treasury stock/other | (133) | (129) | (129) | (4) | ||||
Cash dividends declared | (1,791) | $ (1,785) | (1,785) | $ (6) | ||||
Equity/(deficit) attributable to Ford Motor Company at Sep. 30, 2015 | 27,465 | $ 41 | $ 21,354 | $ 27,489 | $ (20,442) | $ (977) | ||
Equity/(Deficit) attributable to noncontrolling interests at Sep. 30, 2015 | 19 | |||||||
Total equity/(deficit) at Sep. 30, 2015 | $ 27,484 |
Presentation (Notes)
Presentation (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
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 the related financial statements and 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, 2014 (“ 2014 Form 10-K Report”). For purposes of this report, “Ford,” the “Company,” “we,” “our,” “us” or similar references mean Ford Motor Company, our consolidated subsidiaries, and our consolidated VIEs of which we are the primary beneficiary, unless the context requires otherwise. We reclassified certain prior year amounts in our consolidated financial statements to conform to current year presentation. Adoption of New Accounting Standards Accounting Standards Update (“ASU”) 2014-11, Transfers and Servicing - Repurchase-to-Maturity Transactions, Repurchase Financings and Disclosures. On January 1, 2015, we adopted the 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 adoption of this accounting standard did not impact our financial statements or financial statement disclosures. 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, Sector balance sheet presentation of deferred income tax assets Automotive sector current deferred income tax assets $ 2,885 $ 2,039 Automotive sector non-current deferred income tax assets 11,453 13,331 Financial Services sector deferred income tax assets (a) 164 185 Total 14,502 15,555 Reclassification for netting of deferred income taxes (3,068 ) (1,916 ) Consolidated balance sheet presentation of deferred income tax assets $ 11,434 $ 13,639 Sector balance sheet presentation of deferred income tax liabilities Automotive sector current deferred income tax liabilities $ 263 $ 270 Automotive sector non-current deferred income tax liabilities 388 367 Financial Services sector deferred income tax liabilities 2,946 1,849 Total 3,597 2,486 Reclassification for netting of deferred income taxes (3,068 ) (1,916 ) Consolidated balance sheet presentation of deferred income tax liabilities $ 529 $ 570 __________ (a) Financial Services deferred income tax assets are included in Financial Services Other assets on our sector balance sheet. |
Accounting Standards Issued But
Accounting Standards Issued But Not Yet Adopted (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
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 ASU 2014-09, 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 FASB issued ASU 2015-14 to defer the original effective date from January 1, 2017 to January 1, 2018, while allowing for early adoption as of January 1, 2017. The new accounting standard is expected to have an impact to our income statement, balance sheet, and financial statement disclosures and we are reviewing our arrangements to evaluate the impact and method of adoption. The FASB also issued the following standards, none of which are expected to have a material impact to our financial statements or financial statement disclosures. Standard Effective Date (a) 2015-16 Business Combinations - Simplifying the Accounting for Measurement-Period Adjustments January 1, 2016 2015-09 Insurance - Disclosures about Short-Duration Contracts January 1, 2016 2015-07 Fair Value Measurement - Disclosures for Investments in Certain Entities that Calculate Net Asset Value per Share (or Its Equivalent) January 1, 2016 2015-05 Internal-Use Software - Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement January 1, 2016 2015-03 Imputation of Interest - Simplifying the Presentation of Debt Issuance Costs January 1, 2016 2015-02 Consolidation - Amendments to the Consolidation Analysis January 1, 2016 2015-01 Extraordinary and Unusual Items - Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items January 1, 2016 2014-16 Derivatives and Hedging - Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity January 1, 2016 2014-13 Consolidation - Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity January 1, 2016 2014-12 Stock Compensation - Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period January 1, 2016 2014-15 Going Concern - Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern December 31, 2016 2015-11 Inventory - Simplifying the Measurement of Inventory January 1, 2017 __________ (a) Early adoption for each of the standards is permitted. |
Fair Value Measurements (Notes)
Fair Value Measurements (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | FAIR VALUE MEASUREMENTS Cash equivalents, marketable securities, and derivative financial instruments are remeasured and 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. There have been no changes to the types of inputs used or the valuation techniques since year end. 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, 2015 December 31, 2014 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 $ — $ — $ — $ — $ — $ 64 $ — $ 64 Non-U.S. government and agencies — 422 — 422 — 122 — 122 Corporate debt — 70 — 70 — 20 — 20 Total cash equivalents (a) — 492 — 492 — 206 — 206 Marketable securities U.S. government and agencies 609 3,434 — 4,043 969 5,789 — 6,758 Non-U.S. government and agencies — 6,220 — 6,220 — 7,004 — 7,004 Corporate debt — 3,568 — 3,568 — 2,738 — 2,738 Equities 217 — — 217 322 — — 322 Other marketable securities — 356 — 356 — 313 — 313 Total marketable securities 826 13,578 — 14,404 1,291 15,844 — 17,135 Derivative financial instruments (b) — 754 — 754 — 517 — 517 Total assets at fair value $ 826 $ 14,824 $ — $ 15,650 $ 1,291 $ 16,567 $ — $ 17,858 Liabilities Derivative financial instruments (b) $ — $ 650 $ 1 $ 651 $ — $ 710 $ 3 $ 713 Total liabilities at fair value $ — $ 650 $ 1 $ 651 $ — $ 710 $ 3 $ 713 Financial Services Sector Assets Cash equivalents – financial instruments Non-U.S. government and agencies $ — $ 307 $ — $ 307 $ — $ 341 $ — $ 341 Corporate debt — 20 — 20 — 10 — 10 Total cash equivalents (a) — 327 — 327 — 351 — 351 Marketable securities U.S. government and agencies 105 319 — 424 17 1,251 — 1,268 Non-U.S. government and agencies — 700 — 700 — 405 — 405 Corporate debt — 1,613 — 1,613 — 1,555 — 1,555 Other marketable securities — 20 — 20 — 30 — 30 Total marketable securities 105 2,652 — 2,757 17 3,241 — 3,258 Derivative financial instruments (b) — 1,168 — 1,168 — 859 — 859 Total assets at fair value $ 105 $ 4,147 $ — $ 4,252 $ 17 $ 4,451 $ — $ 4,468 Liabilities Derivative financial instruments (b) $ — $ 280 $ — $ 280 $ — $ 167 $ — $ 167 Total liabilities at fair value $ — $ 280 $ — $ 280 $ — $ 167 $ — $ 167 __________ (a) Excludes time deposits, certificates of deposit, money market accounts, and other cash equivalents reported at par value on our balance sheet totaling $6.2 billion and $3.3 billion for Automotive sector and $4.9 billion and $3.8 billion for Financial Services sector at September 30, 2015 and December 31, 2014 , respectively. In addition to these cash equivalents, we also had cash on hand totaling $1.1 billion and $1.1 billion for Automotive sector and $1.7 billion and $2 billion for Financial Services sector at September 30, 2015 and December 31, 2014 , respectively. (b) See Note 12 for additional information regarding derivative financial instruments. |
Finance Receivables (Notes)
Finance Receivables (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
FINANCE RECEIVABLES | FINANCIAL SERVICES SECTOR FINANCE RECEIVABLES Our Financial Services sector, primarily Ford Credit, segments finance receivables into “consumer” and “non-consumer” portfolios. The receivables are generally secured by the vehicles, inventory, or other property being financed. Finance receivables, net were as follows (in millions): September 30, December 31, Consumer Retail financing, gross $ 61,241 $ 55,856 Unearned interest supplements (2,117 ) (1,760 ) Consumer finance receivables 59,124 54,096 Non-Consumer Dealer financing 32,151 31,340 Other financing 1,049 1,026 Non-Consumer finance receivables 33,200 32,366 Total recorded investment $ 92,324 $ 86,462 Recorded investment in finance receivables $ 92,324 $ 86,462 Allowance for credit losses (356 ) (321 ) Finance receivables, net (a) $ 91,968 $ 86,141 Net finance receivables subject to fair value (b) $ 90,163 $ 84,468 Fair value 91,848 85,941 __________ (a) On the consolidated balance sheet at September 30, 2015 and December 31, 2014 , $6.8 billion and $5 billion , respectively, are reclassified to Other receivables, net, resulting in Finance receivables, net of $85.2 billion and $81.1 billion , respectively. (b) At September 30, 2015 and December 31, 2014 , excludes $1.8 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, 2015 and December 31, 2014 , was $184 million and $191 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, 2015 and December 31, 2014 were consumer receivables of $27.7 billion and $24.4 billion , respectively, and non-consumer receivables of $23.1 billion and $21.8 billion , respectively, that have been sold for legal purposes in securitization transactions but continue to be reported in our consolidated financial statements. The receivables are available only for payment of the debt issued by, and other obligations of, the securitization entities that are parties to those securitization transactions; they are not available to pay the other obligations or the claims of Ford Credit’s other creditors. Ford Credit holds the right to receive the excess cash flows not needed to pay the debt issued by, and other obligations of, the securitization entities that are parties to those securitization transactions (see Note 11 for additional information). 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 $17 million at September 30, 2015 and December 31, 2014 , respectively. The recorded investment of non-consumer receivables greater than 90 days past due and still accruing interest was $3 million at September 30, 2015 and December 31, 2014 . The aging analysis of our finance receivables balances were as follows (in millions): September 30, December 31, Consumer 31-60 days past due $ 597 $ 718 61-90 days past due 94 97 91-120 days past due 25 29 Greater than 120 days past due 39 52 Total past due 755 896 Current 58,369 53,200 Consumer finance receivables 59,124 54,096 Non-Consumer Total past due 127 117 Current 33,073 32,249 Non-Consumer finance receivables 33,200 32,366 Total recorded investment $ 92,324 $ 86,462 Credit Quality Consumer Portfolio. Credit quality ratings for consumer receivables are based on aging. Refer to the aging table above. Consumer receivables credit quality ratings are as follows: • Pass – current to 60 days past due • Special Mention – 61 to 120 days past due and in intensified collection status • Substandard – greater than 120 days past due and for which the uncollectible portion of the receivables has already been charged off, as measured using the fair value of collateral Non-Consumer Portfolio. Dealers are assigned to one of four groups according to risk ratings as follows: • Group I – strong to superior financial metrics • Group II – fair to favorable financial metrics • Group III – marginal to weak financial metrics • Group IV – poor financial metrics, including dealers classified as uncollectible NOTE 4. FINANCIAL SERVICES SECTOR FINANCE RECEIVABLES (Continued) The credit quality analysis of our dealer financing receivables was as follows (in millions): September 30, December 31, Dealer Financing Group I $ 24,206 $ 23,125 Group II 6,379 6,350 Group III 1,458 1,783 Group IV 108 82 Total recorded investment $ 32,151 $ 31,340 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, 2015 and December 31, 2014 was $375 million , or 0.6% of consumer receivables, and $415 million , or 0.8% of consumer receivables, respectively. The recorded investment of non-consumer receivables that were impaired at September 30, 2015 and December 31, 2014 was $129 million , or 0.4% of non-consumer receivables, and $105 million , or 0.3% of non-consumer receivables, respectively. Impaired finance receivables are evaluated both collectively and specifically. |
Allowance for Credit Losses (No
Allowance for Credit Losses (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
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 was as follows (in millions): Third Quarter 2015 First Nine Months 2015 Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 322 $ 13 $ 335 $ 305 $ 16 $ 321 Charge-offs (85 ) (2 ) (87 ) (235 ) (3 ) (238 ) Recoveries 29 1 30 90 4 94 Provision for credit losses 80 2 82 190 (2 ) 188 Other (a) (4 ) — (4 ) (8 ) (1 ) (9 ) Ending balance (b) $ 342 $ 14 $ 356 $ 342 $ 14 $ 356 Analysis of ending balance of allowance for credit losses Collective impairment allowance $ 323 $ 12 $ 335 Specific impairment allowance 19 2 21 Ending balance (b) 342 14 356 Analysis of ending balance of finance receivables Collectively evaluated for impairment 58,749 33,071 91,820 Specifically evaluated for impairment 375 129 504 Recorded investment 59,124 33,200 92,324 Ending balance, net of allowance for credit losses $ 58,782 $ 33,186 $ 91,968 __________ (a) Primarily represents amounts related to translation adjustments. (b) Total allowance, including reserves for operating leases, was $403 million . 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 (b) $ 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 (b) 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. (b) Total allowance, including reserves for operating leases, was $356 million . |
Inventories (Notes)
Inventories (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
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 32% and 28% of total inventories at September 30, 2015 and December 31, 2014 , respectively. Cost of other inventories is determined by costing methods that approximate a first-in, first-out (“FIFO”) basis. Inventories were as follows (in millions): September 30, December 31, Raw materials, work-in-process, and supplies $ 4,280 $ 3,822 Finished products 6,222 5,022 Total inventories under FIFO 10,502 8,844 LIFO adjustment (1,006 ) (978 ) Total inventories $ 9,496 $ 7,866 |
Other Liabilities and Deferred
Other Liabilities and Deferred Revenue (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
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, Automotive Sector Current Dealer and dealers’ customer allowances and claims $ 7,496 $ 7,846 Deferred revenue 4,906 3,923 Employee benefit plans 1,348 1,994 Accrued interest 195 222 Other postretirement employee benefits (“OPEB”) 376 397 Pension (a) 307 374 Other 2,881 3,178 Total Automotive other liabilities and deferred revenue 17,509 17,934 Non-current Pension (a) 9,209 9,721 OPEB 5,708 5,991 Dealer and dealers’ customer allowances and claims 3,042 2,852 Deferred revenue 2,874 2,686 Employee benefit plans 1,109 1,149 Other 1,268 1,394 Total Automotive other liabilities and deferred revenue 23,210 23,793 Total Automotive sector 40,719 41,727 Financial Services Sector 1,794 1,850 Total Company $ 42,513 $ 43,577 __________ (a) Balances at September 30, 2015 reflect net pension liabilities at December 31, 2014 , updated for service and interest cost, expected return on assets, separation expense, actual benefit payments, cash contributions, and an adjustment recorded in the first quarter of 2015 (see Note 8 for additional information). The discount rate and rate of expected return assumptions are unchanged from year-end 2014 . |
Retirement Benefits (Notes)
Retirement Benefits (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
RETIREMENT BENEFITS | RETIREMENT BENEFITS In the first quarter of 2015, we recorded a $782 million adjustment to correct for an understatement in the year-end 2014 valuation of our U.S. pension benefit obligation. The adjustment reduced Other assets by $301 million and increased Other liabilities and deferred revenue by $481 million . The resulting after-tax adjustment to Other comprehensive income was a loss of $508 million . The adjustments were not material to current or prior period financial statements. 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 2015 2014 2015 2014 2015 2014 Service cost $ 147 $ 127 $ 133 $ 118 $ 15 $ 13 Interest cost 454 498 236 302 59 68 Expected return on assets (689 ) (678 ) (346 ) (383 ) — — Amortization of: Prior service costs/(credits) 38 38 13 15 (51 ) (58 ) (Gains)/Losses 116 52 200 149 36 24 Separation programs/other 6 8 11 15 (1 ) 1 Recognition of (gains)/losses due to: Curtailments — — — — — — Settlements — — 9 — — — Total expense/(income) $ 72 $ 45 $ 256 $ 216 $ 58 $ 48 First Nine Months Pension Benefits U.S. Plans Non-U.S. Plans Worldwide OPEB 2015 2014 2015 2014 2015 2014 Service cost $ 440 $ 380 $ 401 $ 356 $ 45 $ 40 Interest cost 1,363 1,494 707 904 178 202 Expected return on assets (2,066 ) (2,034 ) (1,038 ) (1,145 ) — — Amortization of: Prior service costs/(credits) 116 116 36 42 (154 ) (172 ) (Gains)/Losses 348 155 604 445 107 73 Separation programs/other 7 9 30 54 1 1 Recognition of (gains)/losses due to: Curtailments — — — — — — Settlements — — 9 14 — — Total expense/(income) $ 208 $ 120 $ 749 $ 670 $ 177 $ 144 Pension Plan Contributions In 2015 , we expect to contribute $1.1 billion from Automotive cash and cash equivalents to our worldwide funded pension plans (most of which are mandatory contributions), and to make about $400 million of benefit payments to participants in unfunded plans, for a total of $1.5 billion . In the first nine months of 2015 , we contributed about $900 million to our worldwide funded pension plans and made about $300 million of benefit payments to participants in unfunded plans. |
Debt (Notes)
Debt (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
Debt Disclosure [Abstract] | |
DEBT DISCLOSURE | DEBT The carrying value of debt was $126.4 billion and $119.2 billion at September 30, 2015 and December 31, 2014 , respectively. The carrying value of Automotive sector and Financial Services sector debt was as follows (in millions): Automotive Sector September 30, December 31, Debt payable within one year Short-term $ 709 $ 373 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 — 1,187 Other debt 290 350 Total debt payable within one year 1,590 2,501 Long-term debt payable after one year Public unsecured debt securities 6,594 6,634 DOE ATVM Incentive Program 3,390 3,833 Other debt 1,675 1,000 Unamortized (discount)/premium (451 ) (144 ) Total long-term debt payable after one year 11,208 11,323 Total Automotive sector $ 12,798 $ 13,824 Fair value of Automotive sector debt (a) $ 14,048 $ 15,553 Financial Services Sector Short-term debt Unsecured debt $ 9,624 $ 9,761 Asset-backed debt 1,877 1,377 Total short-term debt 11,501 11,138 Long-term debt Unsecured debt Notes payable within one year 7,885 8,795 Notes payable after one year 47,531 43,087 Asset-backed debt Notes payable within one year 18,462 16,738 Notes payable after one year 27,553 25,216 Unamortized (discount)/premium (40 ) (55 ) Fair value adjustments (b) 735 428 Total long-term debt 102,126 94,209 Total Financial Services sector $ 113,627 $ 105,347 Fair value of Financial Services sector debt (a) $ 114,712 $ 107,758 __________ (a) The fair value of debt includes $518 million and $131 million of Automotive sector short-term debt and $9.6 billion and $9.8 billion of Financial Services sector short-term debt at September 30, 2015 and December 31, 2014 , 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. |
Redeemable Noncontrolling Inter
Redeemable Noncontrolling Interest (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
Redeemable Noncontrolling Interests [Abstract] | |
Noncontrolling Interest Disclosure [Text Block] | REDEEMABLE NONCONTROLLING INTEREST The redeemable noncontrolling interest in our Ford Sollers joint venture is discussed in Note 17 . AutoAlliance International, Inc. (“AAI”) was a 50 / 50 joint venture between Ford and Mazda Motor Corporation (“Mazda”) that owned an automobile assembly plant in Flat Rock, Michigan. In January 2015, Mazda exercised its put option and Ford purchased Mazda's 50% equity interest at the exercise price plus accrued interest of $342 million (included in Cash flows from financing activities in our statement of cash flows) and dissolved AAI. |
Variable Interest Entities (Not
Variable Interest Entities (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
Variable Interest Entities [Abstract] | |
VARIABLE INTEREST ENTITIES | VARIABLE INTEREST ENTITIES VIEs of Which We are Not the Primary Beneficiary Certain of our joint ventures are VIEs, in which the power to direct economically significant activities is shared with the joint venture partner. Our investments in these 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 $274 million and $307 million at September 30, 2015 and December 31, 2014 , respectively. VIEs of Which We are the Primary Beneficiary Securitization Entities 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 (“SPEs”). 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 SPEs 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 economic 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 transactions are consolidated in our financial results and are included in amounts presented on the face of our consolidated balance sheet (see Note 4 for additional information). |
Derivative Financial Instrument
Derivative Financial Instruments and Hedging Activities (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES | DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES In the normal course of business, our operations are exposed to global market risks, including the effect of changes in foreign currency exchange rates, certain commodity prices, and interest rates. To manage these risks, we enter into highly effective 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. Income Effect of Derivative Financial Instruments The gains/(losses), by hedge designation, recorded in income for the periods ended September 30 were as follows (in millions): Third Quarter First Nine Months 2015 2014 2015 2014 Automotive Sector Cash flow hedges (a) Reclassified from AOCI to income $ (60 ) $ (61 ) $ (196 ) $ 99 Ineffectiveness — — — — Derivatives not designated as hedging instruments Foreign currency exchange contracts 25 168 170 107 Commodity contracts (22 ) (28 ) (47 ) 7 Total $ (57 ) $ 79 $ (73 ) $ 213 Financial Services Sector Fair value hedges Interest rate contracts Net interest settlements and accruals excluded from the assessment of hedge effectiveness $ 94 $ 79 $ 271 $ 220 Ineffectiveness (b) 10 (2 ) 6 8 Derivatives not designated as hedging instruments Interest rate contracts (22 ) (10 ) (83 ) (37 ) Foreign currency exchange contracts 40 52 40 22 Cross-currency interest rate swap contracts 63 118 75 102 Total $ 185 $ 237 $ 309 $ 315 __________ (a) For the third quarter and first nine months of 2015 , $453 million gain and a $86 million gain , respectively, were recorded in Other comprehensive income . For the third quarter and first nine months of 2014 , $128 million loss and a $336 million loss , respectively, were recorded in Other comprehensive income. (b) For the third quarter and first nine months of 2015 , hedge ineffectiveness reflects the net change in fair value on derivatives of $373 million gain and $345 million gain , respectively, and change in value on hedged debt attributable to the change in benchmark interest rates of $363 million loss and $339 million loss , respectively. 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 rates of $86 million gain and $171 million loss , respectively. NOTE 12. DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Continued) Balance Sheet Effect of Derivative Financial Instruments Derivative financial instruments are recorded on the balance sheet at fair value, presented on a gross basis, and include an adjustment for non-performance risk. Notional amounts are presented on a gross basis. The notional amounts of the derivative financial instruments do not necessarily represent amounts exchanged by the parties and, therefore, are not a direct measure of our financial risk exposure. We enter into master agreements with counterparties that may allow for netting of exposure in the event of default or termination of the counterparty agreement due to breach of contract. The notional amount and estimated fair value of our derivative financial instruments were as follows (in millions): September 30, 2015 December 31, 2014 Notional Fair Value of Assets Fair Value of Liabilities Notional Fair Value of Assets Fair Value of Liabilities Automotive Sector Cash flow hedges Foreign currency exchange and commodity contracts $ 10,232 $ 510 $ 422 $ 15,434 $ 359 $ 517 Derivatives not designated as hedging instruments Foreign currency exchange contracts 15,059 243 205 12,198 157 129 Commodity contracts 490 1 24 693 1 67 Total derivative financial instruments, gross $ 25,781 754 651 $ 28,325 517 713 Counterparty netting and collateral (a) (514 ) (514 ) (463 ) (463 ) Total derivative financial instruments, net $ 240 $ 137 $ 54 $ 250 Financial Services Sector Fair value hedges Interest rate contracts $ 26,323 $ 848 $ 4 $ 23,203 $ 602 $ 38 Derivatives not designated as hedging instruments Interest rate contracts 56,173 216 174 56,558 168 89 Foreign currency exchange contracts 1,189 7 1 1,527 18 1 Cross-currency interest rate swap contracts 2,615 97 101 2,425 71 39 Total derivative financial instruments, gross $ 86,300 1,168 280 $ 83,713 859 167 Counterparty netting and collateral (a) (189 ) (189 ) (136 ) (136 ) Total derivative financial instruments, net $ 979 $ 91 $ 723 $ 31 __________ (a) At September 30, 2015 and December 31, 2014 , we did not receive or pledge any cash collateral. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income/(Loss) (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Comprehensive Income (Loss) Note [Text Block] | ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) The changes in the accumulated balances for each component of Accumulated other comprehensive income/(loss) attributable to Ford Motor Company for the periods ended September 30 were as follows (in millions): Third Quarter First Nine Months 2015 2014 2015 2014 Foreign currency translation Beginning balance $ (2,655 ) $ (1,664 ) $ (2,348 ) $ (1,746 ) Gains/(Losses) on foreign currency translation (1,037 ) (550 ) (1,344 ) (434 ) Less: Tax/(Tax benefit) — — — 53 Net gains/(losses) on foreign currency translation (1,037 ) (550 ) (1,344 ) (487 ) (Gains)/Losses reclassified from AOCI to income (a) — — — 19 Other comprehensive income/(loss), net of tax (b) (1,037 ) (550 ) (1,344 ) (468 ) Ending balance $ (3,692 ) $ (2,214 ) $ (3,692 ) $ (2,214 ) Derivative instruments (c) Beginning balance $ (308 ) $ (155 ) $ (142 ) $ 40 Gains/(Losses) on derivative instruments 453 (128 ) 86 (336 ) Less: Tax/(Tax benefit) 196 (35 ) 86 (125 ) Net gains/(losses) on derivative instruments 257 (93 ) — (211 ) (Gains)/Losses reclassified from AOCI to income 60 61 196 (99 ) Less: Tax/(Tax benefit) (57 ) 16 (12 ) (67 ) Net (gains)/losses reclassified from AOCI to net income (d) 117 45 208 (32 ) Other comprehensive income/(loss), net of tax 374 (48 ) 208 (243 ) Ending balance $ 66 $ (203 ) $ 66 $ (203 ) Pension and other postretirement benefits Beginning balance $ (17,297 ) $ (16,288 ) $ (17,542 ) $ (16,524 ) Gains/(Losses) arising during the period 4 — (765 ) (13 ) Less: Tax/(Tax benefit) — — (269 ) (5 ) Net gains/(losses) arising during the period 4 — (496 ) (8 ) Amortization of prior service costs/(credits) (e) — (5 ) (2 ) (14 ) Amortization of (gains)/losses (e) 352 225 1,059 673 Recognition of (gains)/losses due to curtailments (e) — — — — Recognition of (gains)/losses due to settlements (e) 9 — 9 14 Less: Tax/(Tax benefit) 86 52 362 185 Net amortization and (gains)/losses reclassified from AOCI to net income 275 168 704 488 Translation impact on non-U.S. plans 202 372 518 296 Other comprehensive income/(loss), net of tax 481 540 726 776 Ending balance $ (16,816 ) $ (15,748 ) $ (16,816 ) $ (15,748 ) Total AOCI ending balance at September 30 $ (20,442 ) $ (18,165 ) $ (20,442 ) $ (18,165 ) __________ (a) The accumulated translation adjustments related to an investment in a foreign subsidiary 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) In the third quarter of 2015 , there was a $1 million gain attributable to noncontrolling interests. (c) We expect to reclassify existing net gains of $73 million from Accumulated other comprehensive income/(loss) to Automotive cost of sales during the next twelve months as the underlying exposures are realized. (d) Gains/(Losses) on cash flow hedges are reclassified from Accumulated other comprehensive income/(loss) to income when the hedged item affects earnings and is recognized in Automotive cost of sales. See Note 12 for additional information. (e) These Accumulated other comprehensive income/(loss) components are included in the computation of net periodic pension cost. See Note 8 for additional information. |
Other Income (Loss) (Notes)
Other Income (Loss) (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
Other Income and Expenses [Abstract] | |
OTHER INCOME/(LOSS) | OTHER INCOME/(LOSS) Automotive Sector The amounts included in Automotive interest income and other income/(loss), net for the periods ended September 30 were as follows (in millions): Third Quarter First Nine Months 2015 2014 2015 2014 Investment-related interest income $ 60 $ 65 $ 161 $ 145 Interest income/(expense) on income taxes — (3 ) 1 34 Realized and unrealized gains/(losses) on cash equivalents and marketable securities 189 7 146 7 Gains/(Losses) on changes in investments in affiliates — — 18 1 Gains/(Losses) on extinguishment of debt — — 1 (5 ) Royalty income 149 142 448 444 Other 48 44 133 113 Total $ 446 $ 255 $ 908 $ 739 Financial Services Sector The amounts included in Financial Services other income/(loss), net for the periods ended September 30 were as follows (in millions): Third Quarter First Nine Months 2015 2014 2015 2014 Investment-related interest income $ 21 $ 14 $ 58 $ 35 Interest income/(expense) on income taxes (3 ) 1 (9 ) (9 ) Realized and unrealized gains/(losses) on cash equivalents and marketable securities 10 (1 ) 16 7 Insurance premiums earned 32 31 97 94 Other 37 45 79 118 Total $ 97 $ 90 $ 241 $ 245 |
Employee Separation Actions and
Employee Separation Actions and Exit and Disposal Activities (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
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 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 closed 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. Separation-related costs (excluding pension costs) totaled $1.1 billion and were recorded in Automotive cost of sales and Selling, administrative and other expenses. These costs 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 separation-related activity recorded in Other liabilities and deferred revenue for the periods ended September 30 was as follows (in millions): Third Quarter First Nine Months 2015 2014 2015 2014 Beginning balance $ 173 $ 643 $ 730 $ 497 Changes in accruals (5 ) 146 (11 ) 365 Payments (74 ) (30 ) (599 ) (99 ) Foreign currency translation — (57 ) (26 ) (61 ) Ending balance $ 94 $ 702 $ 94 $ 702 Business Restructuring - Australia In May 2013, we committed to commence a transformation plan for our Australia operations. As part of this plan, we will be closing manufacturing operations in Australia in October 2016. In August 2013, a two-phase separation plan was approved, which included a line-speed reduction in June 2014, ahead of the final closure. The costs related to the line-speed reduction were recorded throughout 2014. The costs related to the second phase of the transformation plan were recorded beginning in the fourth quarter of 2014 after the Enterprise bargaining agreement was agreed and ratified by the local government and we determined these payments were probable. Separation-related costs recorded in Automotive cost of sales and Selling, administrative and other expenses, include both the costs associated with voluntary separation programs, and involuntary employee actions in Australia, as well as payments to suppliers. The separation-related activity recorded in Other liabilities and deferred revenue for the period ended September 30 was as follows (in millions): Third Quarter First Nine Months 2015 2015 Beginning balance $ 126 $ 111 Changes in accruals 5 36 Payments (6 ) (16 ) Foreign currency translation (11 ) (17 ) Ending balance $ 114 $ 114 Our current estimate of total separation-related costs (excluding pension costs) for the Australian transformation plan is approximately $230 million . The separation-related costs not yet recorded will be expensed as the employees continue to support Australia plant operations. |
Income Taxes (Notes)
Income Taxes (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
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. |
Changes in Investments in Affil
Changes in Investments in Affiliates (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
Changes in Investments in Affiliates [Abstract] | |
Changes in Investments in Affiliates [Text Block] | CHANGES IN INVESTMENTS IN AFFILIATES Automotive Sector Ford Sollers. We formed the Ford Sollers joint venture with Sollers OJSC (“Sollers”) in October 2011 to operate in Russia. Upon contribution of our then wholly-owned operations in Russia to the joint venture in exchange for cash, notes receivable and a 50% equity interest in the new joint venture, we deconsolidated the related assets and liabilities and recorded an equity method investment in Ford Sollers at its fair value. The fair value was calculated using a discounted cash flow analysis with our best assumptions of relevant factors at that time. During the second quarter of 2014, we recorded a $329 million pre-tax impairment 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 recoverability. The non-cash charge was reported in Equity in net income of affiliated companies . On March 31, 2015, we and Sollers agreed to certain changes to the structure of the joint venture and the related shareholders’ agreement to support the business in the near term and provide a platform for future growth in this important market. The changes include Ford providing additional funding to the joint venture and gaining a controlling interest in the joint venture through the acquisition of preferred shares. As a result, effective March 31, 2015, we have consolidated the joint venture for financial reporting purposes. In addition, the partners will have future rights to purchase, or have purchased, Sollers’ 50% interest in the ordinary shares of the joint venture at a value established using a pre-determined framework. Both partners will continue to work jointly to improve the business outlook for the Ford Sollers joint venture by expanding its vehicle lineup to better meet the needs of Russian customers and further investing in the localization of component manufacturing. NOTE 17. CHANGES IN INVESTMENTS IN AFFILIATES (Continued) During the second quarter of 2015, we finalized our purchase accounting. We measured the fair value of Ford Sollers using the income approach. We used cash flows that reflect the Ford Sollers business plan, aligned with assumptions a market participant would have made. We assumed a discount rate of 17% 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. The following acquired assets and liabilities were measured at fair value and recorded on our balance sheet (in millions): March 31, Assets Cash and cash equivalents $ 40 Other receivables, net 113 Inventories 258 Net property 541 Other assets 25 Total assets of Ford Sollers (a) $ 977 Liabilities Payables $ 514 Debt 370 Total liabilities of Ford Sollers (a) $ 884 __________ (a) At March 31, 2015, intercompany assets of $10 million and intercompany liabilities of $394 million have been eliminated in both the consolidated and sector balance sheet. In addition, we recorded a $93 million redeemable noncontrolling interest in the mezzanine section of our balance sheet, reflecting the redemption features embedded in the 50% equity interest in the joint venture that is held by Sollers. To determine the noncontrolling interest value, we used a Monte Carlo simulation analysis that incorporated market participant assumptions for asset volatilities and credit spreads. Blue Diamond Truck, S. de R.L. (“BDT”). BDT was a Mexican joint venture created in 2001 by Ford and Navistar that produced medium duty commercial trucks. During the second quarter of 2015, we sold our entire equity interest in BDT to a Navistar affiliate and the joint venture was terminated. As a result of the sale of our interest in BDT, we recognized a pre-tax gain of $19 million , which was reported in Automotive interest income and other income/(loss), net . Nemak, S.A.B. de C.V. (“Nemak”). Prior to July 1, 2015, Nemak (formerly named Tenedora Nemak, S.A. de C.V.) was a joint venture between Ford and Mexican conglomerate Alfa, S.A.B. de C.V. Nemak supplies aluminum engine and other components from its plants located in regions in which we do business. Ford and Alfa terminated the joint venture agreement, and in July 2015 Nemak completed an initial public offering (“IPO”) of its common stock, and Ford’s ownership interest in Nemak was diluted. As a result of the IPO and the termination of the joint venture agreement, we no longer account for Nemak using the equity method of accounting. Instead, we account for our Nemak shares as marketable securities. The initial pre-tax gain of $166 million from the IPO and subsequent mark-to-market adjustments for our Nemak shares are reported in Automotive interest income and other income/(loss), net. |
Capital Stock and Earnings Per
Capital Stock and Earnings Per Share (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
Stockholders' Equity Note [Abstract] | |
CAPITAL STOCK AND EARNINGS PER SHARE | CAPITAL STOCK AND EARNINGS PER SHARE Earnings Per Share Attributable to Ford Motor Company Common and Class B Stock Basic and diluted income per share were calculated using the following (in millions): Third Quarter First Nine Months 2015 2014 2015 2014 Basic and Diluted Income Attributable to Ford Motor Company Basic income $ 1,909 $ 835 $ 4,718 $ 3,135 Effect of dilutive 2016 Convertible Notes (a) (b) — 12 — 36 Diluted income $ 1,909 $ 847 $ 4,718 $ 3,171 Basic and Diluted Shares Basic shares (average shares outstanding) 3,969 3,861 3,968 3,915 Net dilutive options and unvested restricted stock units 30 48 34 47 Dilutive 2016 Convertible Notes (b) — 101 — 100 Diluted shares 3,999 4,010 4,002 4,062 __________ (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 October 2014, we elected to terminate the conversion rights of holders under the 2016 Convertible Notes in accordance with their terms effective as of the close of business on November 20, 2014. On November 21, 2014, we redeemed for cash the remaining outstanding 2016 Convertible Notes. |
Segment Information (Notes)
Segment Information (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
Segment Reporting [Abstract] | |
SEGMENT INFORMATION | SEGMENT INFORMATION Our operating activity consists of two operating sectors, Automotive and Financial Services. Our Automotive sector includes the sale of Ford and Lincoln brand vehicles and related service parts and accessories. The Financial Services sector primarily includes our vehicle-related financing and leasing activities at Ford Credit. Prior to January 1, 2015, we had an Other Financial Services segment, which included holding companies, real estate, and financing of some Volvo vehicles in Europe. Effective January 1, 2015, we realigned the business operations of this segment to our Automotive sector on a prospective basis. The impact of this change on prior periods presented would have been immaterial. 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 America South America Europe Middle East & Africa Asia Pacific Other Automotive Special Items Total Third Quarter 2015 Revenues $ 23,663 $ 1,582 $ 6,998 $ 930 $ 2,645 $ — $ — $ 35,818 Income/(Loss) before income taxes 2,670 (163 ) (182 ) (15 ) 20 (163 ) 166 2,333 Total assets at September 30 62,349 4,707 15,345 1,297 9,028 — — 92,726 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 Automotive Sector Operating Segments Reconciling Items North South Middle East & Africa Asia Other Special Total First Nine Months 2015 Revenues $ 67,019 $ 4,589 $ 20,859 $ 2,891 $ 7,365 $ — $ — $ 102,723 Income/(Loss) before income taxes 6,607 (537 ) (381 ) 18 315 (542 ) 166 5,646 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 NOTE 19. SEGMENT INFORMATION (Continued) Financial Services Sector Company Operating Segment Reconciling Items Ford Credit Other Elims Total Elims (a) Total Third Quarter 2015 Revenues $ 2,368 $ — $ (42 ) $ 2,326 $ — $ 38,144 Income/(Loss) before income taxes 541 (14 ) (1 ) 526 — 2,859 Total assets at September 30 131,490 2 (866 ) 130,626 (3,921 ) 219,431 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 30 121,216 391 (1,135 ) 120,472 (2,910 ) 208,835 Financial Services Sector Company Operating Segment Reconciling Items Ford Credit Other Elims Total Elims (a) Total First Nine Months 2015 Revenues $ 6,822 $ — $ (238 ) $ 6,584 $ — $ 109,307 Income/(Loss) before income taxes 1,530 (43 ) (1 ) 1,486 — 7,132 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 __________ (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, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES Commitments and contingencies primarily consist of guarantees and indemnifications, litigation and claims, and warranty. Guarantees and Indemnifications Guarantees and indemnifications are recorded at fair value at their inception. We regularly review our performance risk under these arrangements, and in the event it becomes probable we will be required to perform under guarantee or indemnity, the amount of probable payment is recorded. We guarantee debt and lease obligations of certain joint ventures, as well as certain financial obligations of outside third parties, including suppliers, to support our business and economic growth. Expiration dates vary through 2033 , and guarantees will terminate on payment and/or cancellation of the underlying obligation. A payment by us would be triggered by failure of the joint venture or other third party to fulfill its obligation covered by the guarantee. In some circumstances, we are entitled to recover from a third party amounts paid by us under the guarantee. However, our ability to enforce these rights is sometimes stayed until the guaranteed party is paid in full, and may be limited in the event of insolvency of the third party or other circumstances. In the ordinary course of business, we execute contracts involving indemnifications standard in the industry and indemnifications specific to a transaction, such as the sale of a business. These indemnifications might include and are not limited to claims relating to any of the following: environmental, tax, and shareholder matters; intellectual property rights; power generation contracts; governmental regulations and employment-related matters; dealer, supplier, and other commercial contractual relationships; and financial matters, such as securitizations. Performance under these indemnities generally would be triggered by a breach of terms of the contract or by a third-party claim. While some of these indemnifications are limited in nature, many of them do not limit potential payment. Therefore, we are unable to estimate a maximum amount of future payments that could result from claims made under these unlimited indemnities. The maximum potential payments and the carrying value of recorded liabilities related to guarantees and limited indemnities were as follows (in millions): September 30, December 31, Maximum potential payments $ 392 $ 592 Carrying value of recorded liabilities related to guarantees and limited indemnities 16 17 Litigation and Claims Various legal actions, proceedings, and claims (generally, “matters”) are pending or may be instituted or asserted against us. These include but are not limited to matters arising out of alleged defects in our products; product warranties; governmental regulations relating to safety, emissions, and fuel economy or other matters; government incentives; tax matters; alleged illegal acts resulting in fines or penalties; financial services; employment-related matters; dealer, supplier, and other contractual relationships; intellectual property rights; environmental matters; shareholder or investor matters; and financial reporting matters. Certain of the pending legal actions are, or purport to be, class actions. Some of the matters involve or may involve claims for compensatory, punitive, or antitrust or other treble damages in very large amounts, or demands for field service actions, environmental remediation programs, sanctions, loss of government incentives, assessments, or other relief, which, if granted, would require very large expenditures. The extent of our financial exposure to these matters is difficult to estimate. Many matters do not specify a dollar amount for damages, and many others specify only a jurisdictional minimum. To the extent an amount is asserted, our historical experience suggests that in most instances the amount asserted is not a reliable indicator of the ultimate outcome. We accrue for matters when losses are deemed probable and reasonably estimable. In evaluating matters for accrual and disclosure purposes, we take into consideration factors such as our historical experience with matters of a similar nature, the specific facts and circumstances asserted, the likelihood that we will prevail, and the severity of any potential loss. We reevaluate and update our accruals as matters progress over time. NOTE 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. We do not believe there is a reasonably possible outcome materially in excess of our accrual for these matters. For the remaining matters, where our historical experience with similar matters is of more limited value (i.e., “non‑pattern matters”), we evaluate the matters primarily based on the individual facts and circumstances. For non‑pattern matters, we evaluate whether there is a reasonable possibility of a material loss in excess of any accrual that can be estimated. Our estimate of reasonably possible loss in excess of our accruals for all material matters currently reflects indirect tax and customs matters, for which we estimate the aggregate risk to be a range of up to a bout $2.3 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 and Field Service Actions We accrue obligations for warranty costs and field service actions (i.e., safety recalls, emission recalls, and other product campaigns) at the time of sale. We establish estimates for warranty and field service action obligations using a patterned estimation model using historical information regarding the nature, frequency, and average cost of claims for each vehicle line by model year. We reevaluate the adequacy of our accruals on a regular basis and any revisions to our estimated obligation for warranties and field service actions are reported as Changes in accrual related to pre-existing warranties in the table below. Our estimates of warranty and field service action obligations are accounted for primarily in Other liabilities and deferred revenue for the periods ended September 30 were as follows (in millions): First Nine Months 2015 2014 Beginning balance $ 4,785 $ 3,927 Payments made during the period (2,036 ) (2,186 ) Changes in accrual related to warranties issued during the period 1,523 1,506 Changes in accrual related to pre-existing warranties 495 1,522 Foreign currency translation and other (192 ) (67 ) Ending balance $ 4,575 $ 4,702 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, 2015 | |
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 the related financial statements and 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. |
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 . |
Financing Receivable Impaired [Abstract] | |
Impaired Financing Receivable, Policy [Policy Text Block] | Impaired consumer receivables include accounts that have been rewritten or modified in reorganization proceedings pursuant to the U.S. Bankruptcy Code that are considered to be troubled debt restructurings (“TDRs”), as well as all accounts greater than 120 days past due . Impaired non-consumer receivables represent accounts with dealers that have weak or poor financial metrics or dealer financing that has been modified in TDRs. |
Inventories 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 32% and 28% of total inventories at September 30, 2015 and December 31, 2014 , respectively. Cost of other inventories is determined by costing methods that approximate a first-in, first-out (“FIFO”) basis. |
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. |
Commitments and Contingencies [Abstract] | |
Commitments and Contingencies, Policy [Policy Text Block] | Guarantees and indemnifications are recorded at fair value at their inception. We accrue obligations for warranty costs and field service actions (i.e., safety recalls, emission recalls, and other product campaigns) at the time of sale. We establish estimates for warranty and field service action obligations using a patterned estimation model using historical information regarding the nature, frequency, and average cost of claims for each vehicle line by model year. We reevaluate the adequacy of our accruals on a regular basis and any revisions to our estimated obligation for warranties and field service actions are reported as Changes in accrual related to pre-existing warranties in the table below. We accrue for matters when losses are deemed probable and reasonably estimable |
Presentation (Tables)
Presentation (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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, Sector balance sheet presentation of deferred income tax assets Automotive sector current deferred income tax assets $ 2,885 $ 2,039 Automotive sector non-current deferred income tax assets 11,453 13,331 Financial Services sector deferred income tax assets (a) 164 185 Total 14,502 15,555 Reclassification for netting of deferred income taxes (3,068 ) (1,916 ) Consolidated balance sheet presentation of deferred income tax assets $ 11,434 $ 13,639 Sector balance sheet presentation of deferred income tax liabilities Automotive sector current deferred income tax liabilities $ 263 $ 270 Automotive sector non-current deferred income tax liabilities 388 367 Financial Services sector deferred income tax liabilities 2,946 1,849 Total 3,597 2,486 Reclassification for netting of deferred income taxes (3,068 ) (1,916 ) Consolidated balance sheet presentation of deferred income tax liabilities $ 529 $ 570 __________ (a) Financial Services deferred income tax assets are included in Financial Services Other assets on our sector balance sheet. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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, 2015 December 31, 2014 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 $ — $ — $ — $ — $ — $ 64 $ — $ 64 Non-U.S. government and agencies — 422 — 422 — 122 — 122 Corporate debt — 70 — 70 — 20 — 20 Total cash equivalents (a) — 492 — 492 — 206 — 206 Marketable securities U.S. government and agencies 609 3,434 — 4,043 969 5,789 — 6,758 Non-U.S. government and agencies — 6,220 — 6,220 — 7,004 — 7,004 Corporate debt — 3,568 — 3,568 — 2,738 — 2,738 Equities 217 — — 217 322 — — 322 Other marketable securities — 356 — 356 — 313 — 313 Total marketable securities 826 13,578 — 14,404 1,291 15,844 — 17,135 Derivative financial instruments (b) — 754 — 754 — 517 — 517 Total assets at fair value $ 826 $ 14,824 $ — $ 15,650 $ 1,291 $ 16,567 $ — $ 17,858 Liabilities Derivative financial instruments (b) $ — $ 650 $ 1 $ 651 $ — $ 710 $ 3 $ 713 Total liabilities at fair value $ — $ 650 $ 1 $ 651 $ — $ 710 $ 3 $ 713 Financial Services Sector Assets Cash equivalents – financial instruments Non-U.S. government and agencies $ — $ 307 $ — $ 307 $ — $ 341 $ — $ 341 Corporate debt — 20 — 20 — 10 — 10 Total cash equivalents (a) — 327 — 327 — 351 — 351 Marketable securities U.S. government and agencies 105 319 — 424 17 1,251 — 1,268 Non-U.S. government and agencies — 700 — 700 — 405 — 405 Corporate debt — 1,613 — 1,613 — 1,555 — 1,555 Other marketable securities — 20 — 20 — 30 — 30 Total marketable securities 105 2,652 — 2,757 17 3,241 — 3,258 Derivative financial instruments (b) — 1,168 — 1,168 — 859 — 859 Total assets at fair value $ 105 $ 4,147 $ — $ 4,252 $ 17 $ 4,451 $ — $ 4,468 Liabilities Derivative financial instruments (b) $ — $ 280 $ — $ 280 $ — $ 167 $ — $ 167 Total liabilities at fair value $ — $ 280 $ — $ 280 $ — $ 167 $ — $ 167 __________ (a) Excludes time deposits, certificates of deposit, money market accounts, and other cash equivalents reported at par value on our balance sheet totaling $6.2 billion and $3.3 billion for Automotive sector and $4.9 billion and $3.8 billion for Financial Services sector at September 30, 2015 and December 31, 2014 , respectively. In addition to these cash equivalents, we also had cash on hand totaling $1.1 billion and $1.1 billion for Automotive sector and $1.7 billion and $2 billion for Financial Services sector at September 30, 2015 and December 31, 2014 , respectively. (b) See Note 12 for additional information regarding derivative financial instruments. |
Finance Receivables (Tables)
Finance Receivables (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Financing Receivables [Line Items] | |
Net finance receivables [Table Text Block] | Finance receivables, net were as follows (in millions): September 30, December 31, Consumer Retail financing, gross $ 61,241 $ 55,856 Unearned interest supplements (2,117 ) (1,760 ) Consumer finance receivables 59,124 54,096 Non-Consumer Dealer financing 32,151 31,340 Other financing 1,049 1,026 Non-Consumer finance receivables 33,200 32,366 Total recorded investment $ 92,324 $ 86,462 Recorded investment in finance receivables $ 92,324 $ 86,462 Allowance for credit losses (356 ) (321 ) Finance receivables, net (a) $ 91,968 $ 86,141 Net finance receivables subject to fair value (b) $ 90,163 $ 84,468 Fair value 91,848 85,941 __________ (a) On the consolidated balance sheet at September 30, 2015 and December 31, 2014 , $6.8 billion and $5 billion , respectively, are reclassified to Other receivables, net, resulting in Finance receivables, net of $85.2 billion and $81.1 billion , respectively. (b) At September 30, 2015 and December 31, 2014 , excludes $1.8 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, December 31, Consumer 31-60 days past due $ 597 $ 718 61-90 days past due 94 97 91-120 days past due 25 29 Greater than 120 days past due 39 52 Total past due 755 896 Current 58,369 53,200 Consumer finance receivables 59,124 54,096 Non-Consumer Total past due 127 117 Current 33,073 32,249 Non-Consumer finance receivables 33,200 32,366 Total recorded investment $ 92,324 $ 86,462 |
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, December 31, Dealer Financing Group I $ 24,206 $ 23,125 Group II 6,379 6,350 Group III 1,458 1,783 Group IV 108 82 Total recorded investment $ 32,151 $ 31,340 |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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] | An analysis of the allowance for credit losses related to finance receivables for the periods ended September 30 was as follows (in millions): Third Quarter 2015 First Nine Months 2015 Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 322 $ 13 $ 335 $ 305 $ 16 $ 321 Charge-offs (85 ) (2 ) (87 ) (235 ) (3 ) (238 ) Recoveries 29 1 30 90 4 94 Provision for credit losses 80 2 82 190 (2 ) 188 Other (a) (4 ) — (4 ) (8 ) (1 ) (9 ) Ending balance (b) $ 342 $ 14 $ 356 $ 342 $ 14 $ 356 Analysis of ending balance of allowance for credit losses Collective impairment allowance $ 323 $ 12 $ 335 Specific impairment allowance 19 2 21 Ending balance (b) 342 14 356 Analysis of ending balance of finance receivables Collectively evaluated for impairment 58,749 33,071 91,820 Specifically evaluated for impairment 375 129 504 Recorded investment 59,124 33,200 92,324 Ending balance, net of allowance for credit losses $ 58,782 $ 33,186 $ 91,968 __________ (a) Primarily represents amounts related to translation adjustments. (b) Total allowance, including reserves for operating leases, was $403 million . 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 (b) $ 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 (b) 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. (b) Total allowance, including reserves for operating leases, was $356 million . |
Inventories (Tables)
Inventories (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory [Table Text Block] | Inventories were as follows (in millions): September 30, December 31, Raw materials, work-in-process, and supplies $ 4,280 $ 3,822 Finished products 6,222 5,022 Total inventories under FIFO 10,502 8,844 LIFO adjustment (1,006 ) (978 ) Total inventories $ 9,496 $ 7,866 |
Other Liabilities and Deferre34
Other Liabilities and Deferred Revenue (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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, Automotive Sector Current Dealer and dealers’ customer allowances and claims $ 7,496 $ 7,846 Deferred revenue 4,906 3,923 Employee benefit plans 1,348 1,994 Accrued interest 195 222 Other postretirement employee benefits (“OPEB”) 376 397 Pension (a) 307 374 Other 2,881 3,178 Total Automotive other liabilities and deferred revenue 17,509 17,934 Non-current Pension (a) 9,209 9,721 OPEB 5,708 5,991 Dealer and dealers’ customer allowances and claims 3,042 2,852 Deferred revenue 2,874 2,686 Employee benefit plans 1,109 1,149 Other 1,268 1,394 Total Automotive other liabilities and deferred revenue 23,210 23,793 Total Automotive sector 40,719 41,727 Financial Services Sector 1,794 1,850 Total Company $ 42,513 $ 43,577 __________ (a) Balances at September 30, 2015 reflect net pension liabilities at December 31, 2014 , updated for service and interest cost, expected return on assets, separation expense, actual benefit payments, cash contributions, and an adjustment recorded in the first quarter of 2015 (see Note 8 for additional information). The discount rate and rate of expected return assumptions are unchanged from year-end 2014 . |
Retirement Benefits (Tables)
Retirement Benefits (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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 2015 2014 2015 2014 2015 2014 Service cost $ 147 $ 127 $ 133 $ 118 $ 15 $ 13 Interest cost 454 498 236 302 59 68 Expected return on assets (689 ) (678 ) (346 ) (383 ) — — Amortization of: Prior service costs/(credits) 38 38 13 15 (51 ) (58 ) (Gains)/Losses 116 52 200 149 36 24 Separation programs/other 6 8 11 15 (1 ) 1 Recognition of (gains)/losses due to: Curtailments — — — — — — Settlements — — 9 — — — Total expense/(income) $ 72 $ 45 $ 256 $ 216 $ 58 $ 48 First Nine Months Pension Benefits U.S. Plans Non-U.S. Plans Worldwide OPEB 2015 2014 2015 2014 2015 2014 Service cost $ 440 $ 380 $ 401 $ 356 $ 45 $ 40 Interest cost 1,363 1,494 707 904 178 202 Expected return on assets (2,066 ) (2,034 ) (1,038 ) (1,145 ) — — Amortization of: Prior service costs/(credits) 116 116 36 42 (154 ) (172 ) (Gains)/Losses 348 155 604 445 107 73 Separation programs/other 7 9 30 54 1 1 Recognition of (gains)/losses due to: Curtailments — — — — — — Settlements — — 9 14 — — Total expense/(income) $ 208 $ 120 $ 749 $ 670 $ 177 $ 144 |
Debt (Tables)
Debt (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of debt outstanding [Table Text Block] | The carrying value of Automotive sector and Financial Services sector debt was as follows (in millions): Automotive Sector September 30, December 31, Debt payable within one year Short-term $ 709 $ 373 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 — 1,187 Other debt 290 350 Total debt payable within one year 1,590 2,501 Long-term debt payable after one year Public unsecured debt securities 6,594 6,634 DOE ATVM Incentive Program 3,390 3,833 Other debt 1,675 1,000 Unamortized (discount)/premium (451 ) (144 ) Total long-term debt payable after one year 11,208 11,323 Total Automotive sector $ 12,798 $ 13,824 Fair value of Automotive sector debt (a) $ 14,048 $ 15,553 Financial Services Sector Short-term debt Unsecured debt $ 9,624 $ 9,761 Asset-backed debt 1,877 1,377 Total short-term debt 11,501 11,138 Long-term debt Unsecured debt Notes payable within one year 7,885 8,795 Notes payable after one year 47,531 43,087 Asset-backed debt Notes payable within one year 18,462 16,738 Notes payable after one year 27,553 25,216 Unamortized (discount)/premium (40 ) (55 ) Fair value adjustments (b) 735 428 Total long-term debt 102,126 94,209 Total Financial Services sector $ 113,627 $ 105,347 Fair value of Financial Services sector debt (a) $ 114,712 $ 107,758 __________ (a) The fair value of debt includes $518 million and $131 million of Automotive sector short-term debt and $9.6 billion and $9.8 billion of Financial Services sector short-term debt at September 30, 2015 and December 31, 2014 , 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 Instrume37
Derivative Financial Instruments and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Income Effect of Derivative Instruments [Table Text Block] | The gains/(losses), by hedge designation, recorded in income for the periods ended September 30 were as follows (in millions): Third Quarter First Nine Months 2015 2014 2015 2014 Automotive Sector Cash flow hedges (a) Reclassified from AOCI to income $ (60 ) $ (61 ) $ (196 ) $ 99 Ineffectiveness — — — — Derivatives not designated as hedging instruments Foreign currency exchange contracts 25 168 170 107 Commodity contracts (22 ) (28 ) (47 ) 7 Total $ (57 ) $ 79 $ (73 ) $ 213 Financial Services Sector Fair value hedges Interest rate contracts Net interest settlements and accruals excluded from the assessment of hedge effectiveness $ 94 $ 79 $ 271 $ 220 Ineffectiveness (b) 10 (2 ) 6 8 Derivatives not designated as hedging instruments Interest rate contracts (22 ) (10 ) (83 ) (37 ) Foreign currency exchange contracts 40 52 40 22 Cross-currency interest rate swap contracts 63 118 75 102 Total $ 185 $ 237 $ 309 $ 315 __________ (a) For the third quarter and first nine months of 2015 , $453 million gain and a $86 million gain , respectively, were recorded in Other comprehensive income . For the third quarter and first nine months of 2014 , $128 million loss and a $336 million loss , respectively, were recorded in Other comprehensive income. (b) For the third quarter and first nine months of 2015 , hedge ineffectiveness reflects the net change in fair value on derivatives of $373 million gain and $345 million gain , respectively, and change in value on hedged debt attributable to the change in benchmark interest rates of $363 million loss and $339 million loss , respectively. 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 rates of $86 million gain and $171 million loss , respectively. |
Balance Sheet Effect of Derivative Instruments [Table Text Block] | The notional amount and estimated fair value of our derivative financial instruments were as follows (in millions): September 30, 2015 December 31, 2014 Notional Fair Value of Assets Fair Value of Liabilities Notional Fair Value of Assets Fair Value of Liabilities Automotive Sector Cash flow hedges Foreign currency exchange and commodity contracts $ 10,232 $ 510 $ 422 $ 15,434 $ 359 $ 517 Derivatives not designated as hedging instruments Foreign currency exchange contracts 15,059 243 205 12,198 157 129 Commodity contracts 490 1 24 693 1 67 Total derivative financial instruments, gross $ 25,781 754 651 $ 28,325 517 713 Counterparty netting and collateral (a) (514 ) (514 ) (463 ) (463 ) Total derivative financial instruments, net $ 240 $ 137 $ 54 $ 250 Financial Services Sector Fair value hedges Interest rate contracts $ 26,323 $ 848 $ 4 $ 23,203 $ 602 $ 38 Derivatives not designated as hedging instruments Interest rate contracts 56,173 216 174 56,558 168 89 Foreign currency exchange contracts 1,189 7 1 1,527 18 1 Cross-currency interest rate swap contracts 2,615 97 101 2,425 71 39 Total derivative financial instruments, gross $ 86,300 1,168 280 $ 83,713 859 167 Counterparty netting and collateral (a) (189 ) (189 ) (136 ) (136 ) Total derivative financial instruments, net $ 979 $ 91 $ 723 $ 31 __________ (a) At September 30, 2015 and December 31, 2014 , we did not receive or pledge any cash collateral. |
Accumulated Other Comprehensi38
Accumulated Other Comprehensive Income/(Loss) (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The changes in the accumulated balances for each component of Accumulated other comprehensive income/(loss) attributable to Ford Motor Company for the periods ended September 30 were as follows (in millions): Third Quarter First Nine Months 2015 2014 2015 2014 Foreign currency translation Beginning balance $ (2,655 ) $ (1,664 ) $ (2,348 ) $ (1,746 ) Gains/(Losses) on foreign currency translation (1,037 ) (550 ) (1,344 ) (434 ) Less: Tax/(Tax benefit) — — — 53 Net gains/(losses) on foreign currency translation (1,037 ) (550 ) (1,344 ) (487 ) (Gains)/Losses reclassified from AOCI to income (a) — — — 19 Other comprehensive income/(loss), net of tax (b) (1,037 ) (550 ) (1,344 ) (468 ) Ending balance $ (3,692 ) $ (2,214 ) $ (3,692 ) $ (2,214 ) Derivative instruments (c) Beginning balance $ (308 ) $ (155 ) $ (142 ) $ 40 Gains/(Losses) on derivative instruments 453 (128 ) 86 (336 ) Less: Tax/(Tax benefit) 196 (35 ) 86 (125 ) Net gains/(losses) on derivative instruments 257 (93 ) — (211 ) (Gains)/Losses reclassified from AOCI to income 60 61 196 (99 ) Less: Tax/(Tax benefit) (57 ) 16 (12 ) (67 ) Net (gains)/losses reclassified from AOCI to net income (d) 117 45 208 (32 ) Other comprehensive income/(loss), net of tax 374 (48 ) 208 (243 ) Ending balance $ 66 $ (203 ) $ 66 $ (203 ) Pension and other postretirement benefits Beginning balance $ (17,297 ) $ (16,288 ) $ (17,542 ) $ (16,524 ) Gains/(Losses) arising during the period 4 — (765 ) (13 ) Less: Tax/(Tax benefit) — — (269 ) (5 ) Net gains/(losses) arising during the period 4 — (496 ) (8 ) Amortization of prior service costs/(credits) (e) — (5 ) (2 ) (14 ) Amortization of (gains)/losses (e) 352 225 1,059 673 Recognition of (gains)/losses due to curtailments (e) — — — — Recognition of (gains)/losses due to settlements (e) 9 — 9 14 Less: Tax/(Tax benefit) 86 52 362 185 Net amortization and (gains)/losses reclassified from AOCI to net income 275 168 704 488 Translation impact on non-U.S. plans 202 372 518 296 Other comprehensive income/(loss), net of tax 481 540 726 776 Ending balance $ (16,816 ) $ (15,748 ) $ (16,816 ) $ (15,748 ) Total AOCI ending balance at September 30 $ (20,442 ) $ (18,165 ) $ (20,442 ) $ (18,165 ) __________ (a) The accumulated translation adjustments related to an investment in a foreign subsidiary 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) In the third quarter of 2015 , there was a $1 million gain attributable to noncontrolling interests. (c) We expect to reclassify existing net gains of $73 million from Accumulated other comprehensive income/(loss) to Automotive cost of sales during the next twelve months as the underlying exposures are realized. (d) Gains/(Losses) on cash flow hedges are reclassified from Accumulated other comprehensive income/(loss) to income when the hedged item affects earnings and is recognized in Automotive cost of sales. See Note 12 for additional information. (e) These Accumulated other comprehensive income/(loss) components are included in the computation of net periodic pension cost. See Note 8 for additional information. |
Other Income (Loss) (Tables)
Other Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Automotive [Member] | |
Other Income (Loss) and Debt Reduction Actions [Line Items] | |
Schedule of other income/(loss) [Table Text Block] | The amounts included in Automotive interest income and other income/(loss), net for the periods ended September 30 were as follows (in millions): Third Quarter First Nine Months 2015 2014 2015 2014 Investment-related interest income $ 60 $ 65 $ 161 $ 145 Interest income/(expense) on income taxes — (3 ) 1 34 Realized and unrealized gains/(losses) on cash equivalents and marketable securities 189 7 146 7 Gains/(Losses) on changes in investments in affiliates — — 18 1 Gains/(Losses) on extinguishment of debt — — 1 (5 ) Royalty income 149 142 448 444 Other 48 44 133 113 Total $ 446 $ 255 $ 908 $ 739 |
Financial Services [Member] | |
Other Income (Loss) and Debt Reduction Actions [Line Items] | |
Schedule of other income/(loss) [Table Text Block] | The amounts included in Financial Services other income/(loss), net for the periods ended September 30 were as follows (in millions): Third Quarter First Nine Months 2015 2014 2015 2014 Investment-related interest income $ 21 $ 14 $ 58 $ 35 Interest income/(expense) on income taxes (3 ) 1 (9 ) (9 ) Realized and unrealized gains/(losses) on cash equivalents and marketable securities 10 (1 ) 16 7 Insurance premiums earned 32 31 97 94 Other 37 45 79 118 Total $ 97 $ 90 $ 241 $ 245 |
Employee Separation Actions a40
Employee Separation Actions and Exit and Disposal Activities (Tables) - Automotive [Member] - Facility Closing [Member] | 9 Months Ended |
Sep. 30, 2015 | |
AUSTRALIA | |
Employee Separation Actions and Exit and Disposal Activities [Line Items] | |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | The separation-related activity recorded in Other liabilities and deferred revenue for the period ended September 30 was as follows (in millions): Third Quarter First Nine Months 2015 2015 Beginning balance $ 126 $ 111 Changes in accruals 5 36 Payments (6 ) (16 ) Foreign currency translation (11 ) (17 ) Ending balance $ 114 $ 114 |
Ford Europe [Member] | |
Employee Separation Actions and Exit and Disposal Activities [Line Items] | |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | The separation-related activity recorded in Other liabilities and deferred revenue for the periods ended September 30 was as follows (in millions): Third Quarter First Nine Months 2015 2014 2015 2014 Beginning balance $ 173 $ 643 $ 730 $ 497 Changes in accruals (5 ) 146 (11 ) 365 Payments (74 ) (30 ) (599 ) (99 ) Foreign currency translation — (57 ) (26 ) (61 ) Ending balance $ 94 $ 702 $ 94 $ 702 |
Changes in Investments in Aff41
Changes in Investments in Affiliates Changes in Investments in Affiliates (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Automotive [Member] | Ford Sollers Netherlands B.V. [Member] | |
Changes in Investments in Affiliates [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following acquired assets and liabilities were measured at fair value and recorded on our balance sheet (in millions): March 31, Assets Cash and cash equivalents $ 40 Other receivables, net 113 Inventories 258 Net property 541 Other assets 25 Total assets of Ford Sollers (a) $ 977 Liabilities Payables $ 514 Debt 370 Total liabilities of Ford Sollers (a) $ 884 __________ (a) At March 31, 2015, intercompany assets of $10 million and intercompany liabilities of $394 million have been eliminated in both the consolidated and sector balance sheet. |
Capital Stock and Earnings Pe42
Capital Stock and Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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 2015 2014 2015 2014 Basic and Diluted Income Attributable to Ford Motor Company Basic income $ 1,909 $ 835 $ 4,718 $ 3,135 Effect of dilutive 2016 Convertible Notes (a) (b) — 12 — 36 Diluted income $ 1,909 $ 847 $ 4,718 $ 3,171 Basic and Diluted Shares Basic shares (average shares outstanding) 3,969 3,861 3,968 3,915 Net dilutive options and unvested restricted stock units 30 48 34 47 Dilutive 2016 Convertible Notes (b) — 101 — 100 Diluted shares 3,999 4,010 4,002 4,062 __________ (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 October 2014, we elected to terminate the conversion rights of holders under the 2016 Convertible Notes in accordance with their terms effective as of the close of business on November 20, 2014. On November 21, 2014, we redeemed for cash the remaining outstanding 2016 Convertible Notes. |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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 America South America Europe Middle East & Africa Asia Pacific Other Automotive Special Items Total Third Quarter 2015 Revenues $ 23,663 $ 1,582 $ 6,998 $ 930 $ 2,645 $ — $ — $ 35,818 Income/(Loss) before income taxes 2,670 (163 ) (182 ) (15 ) 20 (163 ) 166 2,333 Total assets at September 30 62,349 4,707 15,345 1,297 9,028 — — 92,726 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 Automotive Sector Operating Segments Reconciling Items North South Middle East & Africa Asia Other Special Total First Nine Months 2015 Revenues $ 67,019 $ 4,589 $ 20,859 $ 2,891 $ 7,365 $ — $ — $ 102,723 Income/(Loss) before income taxes 6,607 (537 ) (381 ) 18 315 (542 ) 166 5,646 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 NOTE 19. SEGMENT INFORMATION (Continued) Financial Services Sector Company Operating Segment Reconciling Items Ford Credit Other Elims Total Elims (a) Total Third Quarter 2015 Revenues $ 2,368 $ — $ (42 ) $ 2,326 $ — $ 38,144 Income/(Loss) before income taxes 541 (14 ) (1 ) 526 — 2,859 Total assets at September 30 131,490 2 (866 ) 130,626 (3,921 ) 219,431 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 30 121,216 391 (1,135 ) 120,472 (2,910 ) 208,835 Financial Services Sector Company Operating Segment Reconciling Items Ford Credit Other Elims Total Elims (a) Total First Nine Months 2015 Revenues $ 6,822 $ — $ (238 ) $ 6,584 $ — $ 109,307 Income/(Loss) before income taxes 1,530 (43 ) (1 ) 1,486 — 7,132 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 __________ (a) Includes intersector transactions occurring in the ordinary course of business and deferred tax netting. |
Commitments and Contingencies44
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Guarantee obligations [Table Text Block] | The maximum potential payments and the carrying value of recorded liabilities related to guarantees and limited indemnities were as follows (in millions): September 30, December 31, Maximum potential payments $ 392 $ 592 Carrying value of recorded liabilities related to guarantees and limited indemnities 16 17 |
Warranty [Table Text Block] | Our estimates of warranty and field service action obligations are accounted for primarily in Other liabilities and deferred revenue for the periods ended September 30 were as follows (in millions): First Nine Months 2015 2014 Beginning balance $ 4,785 $ 3,927 Payments made during the period (2,036 ) (2,186 ) Changes in accrual related to warranties issued during the period 1,523 1,506 Changes in accrual related to pre-existing warranties 495 1,522 Foreign currency translation and other (192 ) (67 ) Ending balance $ 4,575 $ 4,702 |
Presentation - Reconciliations
Presentation - Reconciliations between Consolidated and Sector Deferred Taxes (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Sector balance sheet presentation of deferred income tax assets [Abstract] | ||
Deferred income tax assets | $ 11,434 | $ 13,639 |
Sector balance sheet presentation of deferred income tax liabilities [Abstract] | ||
Deferred income tax liabilities | 529 | 570 |
Automotive [Member] | ||
Sector balance sheet presentation of deferred income tax assets [Abstract] | ||
Automotive sector current deferred income tax assets | 2,885 | 2,039 |
Automotive sector non-current deferred income tax assets | 11,453 | 13,331 |
Sector balance sheet presentation of deferred income tax liabilities [Abstract] | ||
Automotive sector current deferred income tax liabilities | 263 | 270 |
Automotive sector non-current deferred income tax liabilities | 388 | 367 |
Financial Services [Member] | ||
Sector balance sheet presentation of deferred income tax liabilities [Abstract] | ||
Deferred income tax liabilities | 2,946 | 1,849 |
Financial Services [Member] | Other assets [Member] | ||
Sector balance sheet presentation of deferred income tax assets [Abstract] | ||
Deferred income tax assets | 164 | 185 |
Intersector [Member] | ||
Sector balance sheet presentation of deferred income tax assets [Abstract] | ||
Deferred income tax assets | 14,502 | 15,555 |
Sector balance sheet presentation of deferred income tax liabilities [Abstract] | ||
Deferred income tax liabilities | 3,597 | 2,486 |
Intersector Eliminations [Member] | ||
Sector balance sheet presentation of deferred income tax assets [Abstract] | ||
Deferred income tax assets | (3,068) | (1,916) |
Sector balance sheet presentation of deferred income tax liabilities [Abstract] | ||
Deferred income tax liabilities | $ (3,068) | $ (1,916) |
Fair Value Measurements - Input
Fair Value Measurements - Input Hierarchy of Items Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Automotive [Member] | ||
Assets [Abstract] | ||
Derivative financial instruments assets | $ 754 | $ 517 |
Derivative financial instruments liabilities | ||
Derivative financial instruments liabilities | 651 | 713 |
Financial Services [Member] | ||
Assets [Abstract] | ||
Derivative financial instruments assets | 1,168 | 859 |
Derivative financial instruments liabilities | ||
Derivative financial instruments liabilities | 280 | 167 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 492 | 206 |
Marketable securities | 14,404 | 17,135 |
Derivative financial instruments assets | 754 | 517 |
Total assets at fair value | 15,650 | 17,858 |
Derivative financial instruments liabilities | ||
Derivative financial instruments liabilities | 651 | 713 |
Total liabilities at fair value | 651 | 713 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Cash equivalents - financial instruments [Member] | ||
Input Hierarchy of Items Measured at Fair Value on Recurring Basis [Abstract] | ||
Par Value Assets Excluded From Fair Value By Input | 6,200 | 3,300 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Cash [Member] | ||
Input Hierarchy of Items Measured at Fair Value on Recurring Basis [Abstract] | ||
Par Value Assets Excluded From Fair Value By Input | 1,100 | 1,100 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | US Treasury and Government [Member] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 0 | 64 |
Marketable securities | 4,043 | 6,758 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Foreign Government and Agencies [Member] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 422 | 122 |
Marketable securities | 6,220 | 7,004 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Corporate Debt [Domain] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 70 | 20 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Corporate Debt [Member] | ||
Assets [Abstract] | ||
Marketable securities | 3,568 | 2,738 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Equities [Member] | ||
Assets [Abstract] | ||
Marketable securities | 217 | 322 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Other marketable securities [Member] | ||
Assets [Abstract] | ||
Marketable securities | 356 | 313 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Level 1 [Member] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 0 | 0 |
Marketable securities | 826 | 1,291 |
Derivative financial instruments assets | 0 | 0 |
Total assets at fair value | 826 | 1,291 |
Derivative financial instruments liabilities | ||
Derivative financial instruments liabilities | 0 | 0 |
Total liabilities at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Level 1 [Member] | US Treasury and Government [Member] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 0 | 0 |
Marketable securities | 609 | 969 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Level 1 [Member] | Foreign Government and Agencies [Member] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 0 | 0 |
Marketable securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Level 1 [Member] | Corporate Debt [Domain] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Level 1 [Member] | Corporate Debt [Member] | ||
Assets [Abstract] | ||
Marketable securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Level 1 [Member] | Equities [Member] | ||
Assets [Abstract] | ||
Marketable securities | 217 | 322 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Level 1 [Member] | Other marketable securities [Member] | ||
Assets [Abstract] | ||
Marketable securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Level 2 [Member] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 492 | 206 |
Marketable securities | 13,578 | 15,844 |
Derivative financial instruments assets | 754 | 517 |
Total assets at fair value | 14,824 | 16,567 |
Derivative financial instruments liabilities | ||
Derivative financial instruments liabilities | 650 | 710 |
Total liabilities at fair value | 650 | 710 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Level 2 [Member] | US Treasury and Government [Member] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 0 | 64 |
Marketable securities | 3,434 | 5,789 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Level 2 [Member] | Foreign Government and Agencies [Member] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 422 | 122 |
Marketable securities | 6,220 | 7,004 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Level 2 [Member] | Corporate Debt [Domain] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 70 | 20 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Level 2 [Member] | Corporate Debt [Member] | ||
Assets [Abstract] | ||
Marketable securities | 3,568 | 2,738 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Level 2 [Member] | Equities [Member] | ||
Assets [Abstract] | ||
Marketable securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Level 2 [Member] | Other marketable securities [Member] | ||
Assets [Abstract] | ||
Marketable securities | 356 | 313 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Level 3 [Member] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 0 | 0 |
Marketable securities | 0 | 0 |
Derivative financial instruments assets | 0 | 0 |
Total assets at fair value | 0 | 0 |
Derivative financial instruments liabilities | ||
Derivative financial instruments liabilities | 1 | 3 |
Total liabilities at fair value | 1 | 3 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Level 3 [Member] | US Treasury and Government [Member] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 0 | 0 |
Marketable securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Level 3 [Member] | Foreign Government and Agencies [Member] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 0 | 0 |
Marketable securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Level 3 [Member] | Corporate Debt [Domain] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Level 3 [Member] | Corporate Debt [Member] | ||
Assets [Abstract] | ||
Marketable securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Level 3 [Member] | Equities [Member] | ||
Assets [Abstract] | ||
Marketable securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Automotive [Member] | Level 3 [Member] | Other marketable securities [Member] | ||
Assets [Abstract] | ||
Marketable securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 327 | 351 |
Marketable securities | 2,757 | 3,258 |
Derivative financial instruments assets | 1,168 | 859 |
Total assets at fair value | 4,252 | 4,468 |
Derivative financial instruments liabilities | ||
Derivative financial instruments liabilities | 280 | 167 |
Total liabilities at fair value | 280 | 167 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | Cash equivalents - financial instruments [Member] | ||
Input Hierarchy of Items Measured at Fair Value on Recurring Basis [Abstract] | ||
Par Value Assets Excluded From Fair Value By Input | 4,900 | 3,800 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | Cash [Member] | ||
Input Hierarchy of Items Measured at Fair Value on Recurring Basis [Abstract] | ||
Par Value Assets Excluded From Fair Value By Input | 1,700 | 2,000 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | US Treasury and Government [Member] | ||
Assets [Abstract] | ||
Marketable securities | 424 | 1,268 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | Foreign Government and Agencies [Member] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 307 | 341 |
Marketable securities | 700 | 405 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | Corporate Debt [Domain] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 20 | 10 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | Corporate Debt [Member] | ||
Assets [Abstract] | ||
Marketable securities | 1,613 | 1,555 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | Other marketable securities [Member] | ||
Assets [Abstract] | ||
Marketable securities | 20 | 30 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | Level 1 [Member] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 0 | 0 |
Marketable securities | 105 | 17 |
Derivative financial instruments assets | 0 | 0 |
Total assets at fair value | 105 | 17 |
Derivative financial instruments liabilities | ||
Derivative financial instruments liabilities | 0 | 0 |
Total liabilities at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | Level 1 [Member] | US Treasury and Government [Member] | ||
Assets [Abstract] | ||
Marketable securities | 105 | 17 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | Level 1 [Member] | Foreign Government and Agencies [Member] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 0 | 0 |
Marketable securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | Level 1 [Member] | Corporate Debt [Domain] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | Level 1 [Member] | Corporate Debt [Member] | ||
Assets [Abstract] | ||
Marketable securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | Level 1 [Member] | Other marketable securities [Member] | ||
Assets [Abstract] | ||
Marketable securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | Level 2 [Member] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 327 | 351 |
Marketable securities | 2,652 | 3,241 |
Derivative financial instruments assets | 1,168 | 859 |
Total assets at fair value | 4,147 | 4,451 |
Derivative financial instruments liabilities | ||
Derivative financial instruments liabilities | 280 | 167 |
Total liabilities at fair value | 280 | 167 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | Level 2 [Member] | US Treasury and Government [Member] | ||
Assets [Abstract] | ||
Marketable securities | 319 | 1,251 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | Level 2 [Member] | Foreign Government and Agencies [Member] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 307 | 341 |
Marketable securities | 700 | 405 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | Level 2 [Member] | Corporate Debt [Domain] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 20 | 10 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | Level 2 [Member] | Corporate Debt [Member] | ||
Assets [Abstract] | ||
Marketable securities | 1,613 | 1,555 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | Level 2 [Member] | Other marketable securities [Member] | ||
Assets [Abstract] | ||
Marketable securities | 20 | 30 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | Level 3 [Member] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 0 | 0 |
Marketable securities | 0 | 0 |
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 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | Level 3 [Member] | US Treasury and Government [Member] | ||
Assets [Abstract] | ||
Marketable securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | Level 3 [Member] | Foreign Government and Agencies [Member] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 0 | 0 |
Marketable securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | Level 3 [Member] | Corporate Debt [Domain] | ||
Assets [Abstract] | ||
Cash equivalents - financial instruments | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | Level 3 [Member] | Corporate Debt [Member] | ||
Assets [Abstract] | ||
Marketable securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Financial Services [Member] | Level 3 [Member] | Other marketable securities [Member] | ||
Assets [Abstract] | ||
Marketable securities | $ 0 | $ 0 |
Finance Receivables, net (Detai
Finance Receivables, net (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Net Finance Receivables [Abstract] | ||||||
Finance receivables, net | $ 85,208 | $ 81,111 | ||||
Financial Services [Member] | ||||||
Net Finance Receivables [Abstract] | ||||||
Financing Receivable, Gross | 92,324 | 86,462 | $ 84,862 | |||
Allowance for Credit Losses | (356) | $ (335) | (321) | (325) | $ (327) | $ (357) |
Finance receivables, net | 91,968 | 86,141 | $ 84,537 | |||
Net finance receivables subject to fair value | 90,163 | 84,468 | ||||
Fair value | 91,848 | 85,941 | ||||
Finance Receivables Net Not Subject To Fair Value | 1,800 | 1,700 | ||||
Financial Services [Member] | Consumer [Member] | ||||||
Net Finance Receivables [Abstract] | ||||||
Finance Receivable Before Unearned Interest Supplements | 61,241 | 55,856 | ||||
Unearned interest supplements | (2,117) | (1,760) | ||||
Financing Receivable, Gross | 59,124 | 54,096 | ||||
Amount of finance receivables that secure certain debt obligations | 27,700 | 24,400 | ||||
Financial Services [Member] | Non-consumer [Member] | ||||||
Net Finance Receivables [Abstract] | ||||||
Financing Receivable, Gross | 33,200 | 32,366 | ||||
Amount of finance receivables that secure certain debt obligations | 23,100 | 21,800 | ||||
Financial Services [Member] | Non-consumer [Member] | Wholesale and Dealer Loans [Member] | ||||||
Net Finance Receivables [Abstract] | ||||||
Financing Receivable, Gross | 32,151 | 31,340 | ||||
Financial Services [Member] | Non-consumer [Member] | Other [Member] | ||||||
Net Finance Receivables [Abstract] | ||||||
Financing Receivable, Gross | 1,049 | 1,026 | ||||
Other Receivables Net [Member] | Intersector [Member] | ||||||
Net Finance Receivables [Abstract] | ||||||
Finance receivables, net | 6,800 | 5,000 | ||||
Other Assets on Statement of Financial Position [Member] | Financial Services [Member] | ||||||
Net Finance Receivables [Abstract] | ||||||
Uncollected Interest Receivable Excluded From Finance Receivable | $ 184 | $ 191 |
Finance Receivables - Aging (De
Finance Receivables - Aging (Details) - Financial Services [Member] - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | |
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 | $ 92,324 | $ 86,462 | $ 84,862 |
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 | 17 | |
Financing Receivable Recorded Investment 31 To 60 Days Past Due | 597 | 718 | |
Financing Receivable Recorded Investment 61 To 90 Days Past Due | 94 | 97 | |
Financing Receivable Recorded Investment 91 To 120 Days Past Due | 25 | 29 | |
Financing Receivable Recorded Investment Greater Than 120 Days Past Due | 39 | 52 | |
Financing Receivable, Recorded Investment, Past Due | 755 | 896 | |
Financing Receivable, Recorded Investment, Current | 58,369 | 53,200 | |
Financing Receivable, Gross | 59,124 | 54,096 | |
Non-consumer [Member] | |||
Financing Receivables [Line Items] | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 3 | 3 | |
Financing Receivable, Recorded Investment, Past Due | 127 | 117 | |
Financing Receivable, Recorded Investment, Current | 33,073 | 32,249 | |
Financing Receivable, Gross | $ 33,200 | $ 32,366 |
Finance Receivables - Credit Qu
Finance Receivables - Credit Quality (Details) - Financial Services [Member] - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | |
Credit quality ratings | |||
Financing Receivable By Credit Quality Indicator | $ 92,324 | $ 86,462 | $ 84,862 |
Consumer [Member] | |||
Credit quality ratings | |||
Financing Receivable By Credit Quality Indicator | 59,124 | 54,096 | |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | $ 15 | 17 | |
Consumer [Member] | Pass [Member] | |||
Credit quality ratings | |||
Term, in days, for credit quality rating | current to 60 days past due | ||
Consumer [Member] | Special Mention [Member] | |||
Credit quality ratings | |||
Term, in days, for credit quality rating | 61 to 120 days past due | ||
Consumer [Member] | Substandard [Member] | |||
Credit quality ratings | |||
Term, in days, for credit quality rating | greater than 120 days past due | ||
Consumer [Member] | Minimum [Member] | Special Mention [Member] | |||
Credit quality ratings | |||
Finance Receivables Credit Quality Ratings Term Range | 61 days | ||
Consumer [Member] | Minimum [Member] | Finance Receivables [Member] | |||
Credit quality ratings | |||
Number Of Days At Which Finance Receivables Are Put In Non Accrual Status | 120 days | ||
Consumer [Member] | Maximum [Member] | Special Mention [Member] | |||
Credit quality ratings | |||
Finance Receivables Credit Quality Ratings Term Range | 120 days | ||
Non-consumer [Member] | |||
Credit quality ratings | |||
Financing Receivable By Credit Quality Indicator | $ 33,200 | 32,366 | |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 3 | 3 | |
Non-consumer [Member] | Wholesale and Dealer Loans [Member] | |||
Credit quality ratings | |||
Financing Receivable By Credit Quality Indicator | 32,151 | 31,340 | |
Non-consumer [Member] | Wholesale and Dealer Loans [Member] | Group I | |||
Credit quality ratings | |||
Financing Receivable By Credit Quality Indicator | 24,206 | 23,125 | |
Non-consumer [Member] | Wholesale and Dealer Loans [Member] | Group II | |||
Credit quality ratings | |||
Financing Receivable By Credit Quality Indicator | 6,379 | 6,350 | |
Non-consumer [Member] | Wholesale and Dealer Loans [Member] | Group III | |||
Credit quality ratings | |||
Financing Receivable By Credit Quality Indicator | 1,458 | 1,783 | |
Non-consumer [Member] | Wholesale and Dealer Loans [Member] | Group IV | |||
Credit quality ratings | |||
Financing Receivable By Credit Quality Indicator | $ 108 | $ 82 |
Finance Receivables - Impaired
Finance Receivables - Impaired (Details) - Financial Services [Member] - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | |
Financing Receivable Impaired [Abstract] | ||
Number of Days Past Due After Which Consumer Receivables are Considered Impaired | greater than 120 days past due | |
Consumer [Member] | ||
Financing Receivable Impaired [Abstract] | ||
Impaired Financing Receivable, Recorded Investment | $ 375 | $ 415 |
Impaired Financing Receivable Recorded Investment, Percentage of Receivable | 0.60% | 0.80% |
Non-consumer [Member] | ||
Financing Receivable Impaired [Abstract] | ||
Impaired Financing Receivable, Recorded Investment | $ 129 | $ 105 |
Impaired Financing Receivable Recorded Investment, Percentage of Receivable | 0.40% | 0.30% |
Allowance for Credit Losses (De
Allowance for Credit Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Analysis of ending balance of finance receivables | |||||
Finance receivables, net | $ 85,208 | $ 85,208 | $ 81,111 | ||
Financial Services [Member] | |||||
Allowance for credit losses | |||||
Beginning balance | 335 | $ 327 | 321 | $ 357 | |
Charge-offs | (87) | (69) | (238) | (207) | |
Recoveries | 30 | 35 | 94 | 109 | |
Provision for credit losses | 82 | 39 | 188 | 72 | |
Other | (4) | (7) | (9) | (6) | |
Ending balance | 356 | 325 | 356 | 325 | |
Analysis of ending balance of allowance for credit losses | |||||
Collective impairment allowance | 335 | 302 | 335 | 302 | |
Specific impairment allowance | 21 | 23 | 21 | 23 | |
Analysis of ending balance of finance receivables | |||||
Collectively evaluated for impairment | 91,820 | 84,326 | 91,820 | 84,326 | |
Specifically evaluated for impairment | 504 | 536 | 504 | 536 | |
Financing Receivable, Gross | 92,324 | 84,862 | 92,324 | 84,862 | 86,462 |
Finance receivables, net | 91,968 | 84,537 | 91,968 | 84,537 | $ 86,141 |
Financing And Loans And Leases Receivable Allowance | 403 | 356 | 403 | 356 | |
Financial Services [Member] | Consumer [Member] | |||||
Allowance for credit losses | |||||
Beginning balance | 322 | 303 | 305 | 327 | |
Charge-offs | (85) | (67) | (235) | (200) | |
Recoveries | 29 | 33 | 90 | 101 | |
Provision for credit losses | 80 | 42 | 190 | 82 | |
Other | (4) | (6) | (8) | (5) | |
Ending balance | 342 | 305 | 342 | 305 | |
Analysis of ending balance of allowance for credit losses | |||||
Collective impairment allowance | 323 | 283 | 323 | 283 | |
Specific impairment allowance | 19 | 22 | 19 | 22 | |
Analysis of ending balance of finance receivables | |||||
Collectively evaluated for impairment | 58,749 | 53,150 | 58,749 | 53,150 | |
Specifically evaluated for impairment | 375 | 421 | 375 | 421 | |
Financing Receivable, Gross | 59,124 | 53,571 | 59,124 | 53,571 | |
Finance receivables, net | 58,782 | 53,266 | 58,782 | 53,266 | |
Financial Services [Member] | Non-consumer [Member] | |||||
Allowance for credit losses | |||||
Beginning balance | 13 | 24 | 16 | 30 | |
Charge-offs | (2) | (2) | (3) | (7) | |
Recoveries | 1 | 2 | 4 | 8 | |
Provision for credit losses | 2 | (3) | (2) | (10) | |
Other | 0 | (1) | (1) | (1) | |
Ending balance | 14 | 20 | 14 | 20 | |
Analysis of ending balance of allowance for credit losses | |||||
Collective impairment allowance | 12 | 19 | 12 | 19 | |
Specific impairment allowance | 2 | 1 | 2 | 1 | |
Analysis of ending balance of finance receivables | |||||
Collectively evaluated for impairment | 33,071 | 31,176 | 33,071 | 31,176 | |
Specifically evaluated for impairment | 129 | 115 | 129 | 115 | |
Financing Receivable, Gross | 33,200 | 31,291 | 33,200 | 31,291 | |
Finance receivables, net | $ 33,186 | $ 31,271 | $ 33,186 | $ 31,271 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Inventories footnote [Abstract] | ||
Percentage Of LIFO Inventory To Total Inventory | 32.00% | 28.00% |
Inventory, Net [Abstract] | ||
Raw materials, work-in-process and supplies | $ 4,280 | $ 3,822 |
Finished products | 6,222 | 5,022 |
Total inventories under FIFO | 10,502 | 8,844 |
LIFO adjustment | (1,006) | (978) |
Total inventories | 9,496 | 7,866 |
Automotive [Member] | ||
Inventory, Net [Abstract] | ||
Total inventories | $ 9,496 | $ 7,866 |
Other Liabilities and Deferre53
Other Liabilities and Deferred Revenue (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Other liabilities and deferred revenue | $ 42,513 | $ 43,577 |
Automotive [Member] | ||
Other liabilities and deferred revenue | 40,719 | 41,727 |
Liabilities, Current [Abstract] | ||
Dealer and dealers' customer allowances and claims | 7,496 | 7,846 |
Deferred revenue | 4,906 | 3,923 |
Employee benefit plans | 1,348 | 1,994 |
Accrued interest | 195 | 222 |
Other postretirement employee benefits (OPEB) | 376 | 397 |
Pension | 307 | 374 |
Other | 2,881 | 3,178 |
Total Automotive other liabilities and deferred revenue | 17,509 | 17,934 |
Liabilities, Noncurrent [Abstract] | ||
Pension | 9,209 | 9,721 |
OPEB | 5,708 | 5,991 |
Dealer and dealers' customer allowances and claims | 3,042 | 2,852 |
Deferred revenue | 2,874 | 2,686 |
Employee benefit plans | 1,109 | 1,149 |
Other | 1,268 | 1,394 |
Total Automotive other liabilities | 23,210 | 23,793 |
Financial Services [Member] | ||
Other liabilities and deferred revenue | $ 1,794 | $ 1,850 |
Retirement Benefits - Expense (
Retirement Benefits - Expense (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | ||||||
Other Assets | $ 7,524 | $ 7,524 | $ 6,353 | |||
Other Liabilities and deferred revenue | 42,513 | 42,513 | $ 43,577 | |||
Other Comprehensive Income/(Loss), Pension and Other Postretirement Benefit Plans, Adjustment, net of Tax | 481 | $ 540 | 726 | $ 776 | ||
U.S. Plans | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Service cost | 147 | 127 | 440 | 380 | ||
Interest cost | 454 | 498 | 1,363 | 1,494 | ||
Expected return on assets | (689) | (678) | (2,066) | (2,034) | ||
Defined Benefit Plan Amortization Categories [Abstract] | ||||||
Prior service costs/(credits) | 38 | 38 | 116 | 116 | ||
(Gains)/Losses | 116 | 52 | 348 | 155 | ||
Separation programs/other | 6 | 8 | 7 | 9 | ||
(Gains)/Losses from curtailments | 0 | 0 | 0 | 0 | ||
(Gains)/Losses from settlements | 0 | 0 | 0 | 0 | ||
Total expense/(income) | 72 | 45 | 208 | 120 | ||
Non-U.S. Plans | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Service cost | 133 | 118 | 401 | 356 | ||
Interest cost | 236 | 302 | 707 | 904 | ||
Expected return on assets | (346) | (383) | (1,038) | (1,145) | ||
Defined Benefit Plan Amortization Categories [Abstract] | ||||||
Prior service costs/(credits) | 13 | 15 | 36 | 42 | ||
(Gains)/Losses | 200 | 149 | 604 | 445 | ||
Separation programs/other | 11 | 15 | 30 | 54 | ||
(Gains)/Losses from curtailments | 0 | 0 | 0 | 0 | ||
(Gains)/Losses from settlements | 9 | 0 | 9 | 14 | ||
Total expense/(income) | 256 | 216 | 749 | 670 | ||
Worldwide OPEB | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Service cost | 15 | 13 | 45 | 40 | ||
Interest cost | 59 | 68 | 178 | 202 | ||
Expected return on assets | 0 | 0 | 0 | 0 | ||
Defined Benefit Plan Amortization Categories [Abstract] | ||||||
Prior service costs/(credits) | (51) | (58) | (154) | (172) | ||
(Gains)/Losses | 36 | 24 | 107 | 73 | ||
Separation programs/other | (1) | 1 | 1 | 1 | ||
(Gains)/Losses from curtailments | 0 | 0 | 0 | 0 | ||
(Gains)/Losses from settlements | 0 | 0 | 0 | 0 | ||
Total expense/(income) | 58 | $ 48 | 177 | $ 144 | ||
Plan Contributions [Abstract] | ||||||
Defined Benefit Plan, Estimated Future Employer Contributions To Funded Plans in Current Fiscal Year | 1,100 | 1,100 | ||||
Pension And Other Postretirement Expected Benefit Contributions Unfunded Plans | 400 | 400 | ||||
Pension and Other Postretirement Benefit Contributions and Expected Future Employer Contributions To Funded and Unfunded Plans | $ 1,500 | 1,500 | ||||
Pension and Other Postretirement Benefit Contributions | 900 | |||||
Pension and Other Postretirement Benefit Contributions Unfunded Plans | $ 300 | |||||
2014 U.S. Pension Benefit Obligation Valuation Adjustment [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax | $ (782) | |||||
Other Assets | (301) | |||||
Other Liabilities and deferred revenue | 481 | |||||
Other Comprehensive Income/(Loss), Pension and Other Postretirement Benefit Plans, Adjustment, net of Tax | $ (508) |
Debt - Debt Outstanding (Detail
Debt - Debt Outstanding (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Debt Outstanding [Abstract] | ||
Total Debt | $ 126,425 | $ 119,171 |
Automotive [Member] | ||
Debt Outstanding [Abstract] | ||
Short-term Debt | 709 | 373 |
Debt, Current | 1,590 | 2,501 |
Unamortized (discount)/premium | (451) | (144) |
Debt payable after one year | 11,208 | 11,323 |
Total Debt | 12,798 | 13,824 |
Fair value of debt | 14,048 | 15,553 |
Short Term Debt Carrying Value Fair Value | 518 | 131 |
Automotive [Member] | Other debt [Member] | ||
Debt Outstanding [Abstract] | ||
Debt payable within one year | 290 | 350 |
Debt payable after one year | 1,675 | 1,000 |
Automotive [Member] | Public Unsecured Debt Securities [Member] | ||
Debt Outstanding [Abstract] | ||
Debt, principal amount | 6,594 | 6,634 |
Automotive [Member] | DOE ATVM Incentive Program | ||
Debt Outstanding [Abstract] | ||
Debt payable within one year | 591 | 591 |
Debt payable after one year | 3,390 | 3,833 |
Automotive [Member] | EIB Credit Facilities [Member] | ||
Debt Outstanding [Abstract] | ||
Debt payable within one year | 0 | 1,187 |
Financial Services [Member] | ||
Debt Outstanding [Abstract] | ||
Short-term Debt | 11,501 | 11,138 |
Unamortized (discount)/premium | (40) | (55) |
Adjustment Fair Value Hedging Instruments Unsecured Debt | 735 | 428 |
Long-term Debt and Capital Lease Obligations, Including Current Maturities | 102,126 | 94,209 |
Total Debt | 113,627 | 105,347 |
Fair value of debt | 114,712 | 107,758 |
Short Term Debt Carrying Value Fair Value | 9,600 | 9,800 |
Financial Services [Member] | Unsecured short-term debt [Member] | ||
Debt Outstanding [Abstract] | ||
Short-term Debt | 9,624 | 9,761 |
Financial Services [Member] | Asset backed commercial paper [Member] | ||
Debt Outstanding [Abstract] | ||
Short-term Debt | 1,877 | 1,377 |
Financial Services [Member] | Unsecured Debt [Member] | ||
Debt Outstanding [Abstract] | ||
Debt payable within one year | 7,885 | 8,795 |
Debt payable after one year | 47,531 | 43,087 |
Financial Services [Member] | Asset backed-debt [Member] | ||
Debt Outstanding [Abstract] | ||
Debt payable within one year | 18,462 | 16,738 |
Debt payable after one year | $ 27,553 | $ 25,216 |
Redeemable Noncontrolling Int56
Redeemable Noncontrolling Interest (Details) - Auto Alliance International [Member] $ in Millions | 1 Months Ended |
Jan. 31, 2015USD ($) | |
Redeemable Noncontrolling Interest [Line Items] | |
Noncontrolling Interest, Ownership Percentage by Parent | 50.00% |
Payments for Repurchase of Redeemable Noncontrolling Interest | $ 342 |
Mazda [Member] | |
Redeemable Noncontrolling Interest [Line Items] | |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 50.00% |
Variable Interest Entities - VI
Variable Interest Entities - VIEs of Which We Are Not the Primary Beneficiary (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Investment Type [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||
Total maximum exposure | $ 274 | $ 307 |
Income Effect of Derivative Fin
Income Effect of Derivative Financial Instruments (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Automotive [Member] | ||||
Derivative [Line Items] | ||||
Gain/(Loss) Recognized in Income | $ (57) | $ 79 | $ (73) | $ 213 |
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 | (60) | (61) | (196) | 99 |
Gain/(Loss) Recognized in Income | 0 | 0 | 0 | 0 |
Gain/(Loss) Recorded in OCI | 453 | (128) | 86 | (336) |
Automotive [Member] | Not Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | ||||
Derivative [Line Items] | ||||
Gain/(Loss) Recognized in Income | 25 | 168 | 170 | 107 |
Automotive [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | ||||
Derivative [Line Items] | ||||
Gain/(Loss) Recognized in Income | (22) | (28) | (47) | 7 |
Financial Services [Member] | ||||
Derivative [Line Items] | ||||
Gain/(Loss) Recognized in Income | 185 | 237 | 309 | 315 |
Financial Services [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments | 373 | (88) | 345 | 179 |
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | (363) | 86 | (339) | (171) |
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 | 94 | 79 | 271 | 220 |
Ineffectiveness - gain (loss) on interest rate fair value hedge | 10 | (2) | 6 | 8 |
Financial Services [Member] | Not Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | ||||
Derivative [Line Items] | ||||
Gain/(Loss) Recognized in Income | 40 | 52 | 40 | 22 |
Financial Services [Member] | Not Designated as Hedging Instrument [Member] | Interest rate contracts [Member] | ||||
Derivative [Line Items] | ||||
Gain/(Loss) Recognized in Income | (22) | (10) | (83) | (37) |
Financial Services [Member] | Not Designated as Hedging Instrument [Member] | Cross-currency interest rate swap contracts [Member] | ||||
Derivative [Line Items] | ||||
Gain/(Loss) Recognized in Income | $ 63 | $ 118 | $ 75 | $ 102 |
Balance Sheet Effect of Derivat
Balance Sheet Effect of Derivative Financial Instruments (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Automotive [Member] | ||
Balance Sheet Effect of Derivative Instruments [Abstract] | ||
Notional | $ 25,781 | $ 28,325 |
Fair Value of Assets | 754 | 517 |
Fair Value of Liabilities | 651 | 713 |
Counterparty netting - Derivative Asset, Fair Value, Amount Not Offset Against Collateral | (514) | (463) |
Counterparty netting - Derivative Liability, Fair Value, Amount Not Offset Against Collateral | (514) | (463) |
Derivative Asset | 240 | 54 |
Derivative Liability | 137 | 250 |
Automotive [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | ||
Balance Sheet Effect of Derivative Instruments [Abstract] | ||
Notional | 10,232 | 15,434 |
Fair Value of Assets | 510 | 359 |
Fair Value of Liabilities | 422 | 517 |
Automotive [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | ||
Balance Sheet Effect of Derivative Instruments [Abstract] | ||
Notional | 15,059 | 12,198 |
Fair Value of Assets | 243 | 157 |
Fair Value of Liabilities | 205 | 129 |
Automotive [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | ||
Balance Sheet Effect of Derivative Instruments [Abstract] | ||
Notional | 490 | 693 |
Fair Value of Assets | 1 | 1 |
Fair Value of Liabilities | 24 | 67 |
Financial Services [Member] | ||
Balance Sheet Effect of Derivative Instruments [Abstract] | ||
Notional | 86,300 | 83,713 |
Fair Value of Assets | 1,168 | 859 |
Fair Value of Liabilities | 280 | 167 |
Counterparty netting - Derivative Asset, Fair Value, Amount Not Offset Against Collateral | (189) | (136) |
Counterparty netting - Derivative Liability, Fair Value, Amount Not Offset Against Collateral | (189) | (136) |
Derivative Asset | 979 | 723 |
Derivative Liability | 91 | 31 |
Financial Services [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Fair Value Hedging [Member] | ||
Balance Sheet Effect of Derivative Instruments [Abstract] | ||
Notional | 26,323 | 23,203 |
Fair Value of Assets | 848 | 602 |
Fair Value of Liabilities | 4 | 38 |
Financial Services [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | ||
Balance Sheet Effect of Derivative Instruments [Abstract] | ||
Notional | 1,189 | 1,527 |
Fair Value of Assets | 7 | 18 |
Fair Value of Liabilities | 1 | 1 |
Financial Services [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ||
Balance Sheet Effect of Derivative Instruments [Abstract] | ||
Notional | 56,173 | 56,558 |
Fair Value of Assets | 216 | 168 |
Fair Value of Liabilities | 174 | 89 |
Financial Services [Member] | Not Designated as Hedging Instrument [Member] | Cross-currency interest rate swap contracts [Member] | ||
Balance Sheet Effect of Derivative Instruments [Abstract] | ||
Notional | 2,615 | 2,425 |
Fair Value of Assets | 97 | 71 |
Fair Value of Liabilities | $ 101 | $ 39 |
Accumulated Other Comprehensi60
Accumulated Other Comprehensive Income/(Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Foreign currency transaction | |||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | $ (1,036) | $ (550) | $ (1,344) | $ (468) | |
Derivative instruments | |||||
Other comprehensive income/(loss), Derivative Instruments, net of tax | 374 | (48) | 208 | (243) | |
Pension and other postretirement benefits | |||||
Other comprehensive income/(loss), Pension and other post retirement benefits, net of tax | 481 | 540 | 726 | 776 | |
Total AOCI ending balance | (20,442) | (20,442) | $ (20,032) | ||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest [Abstract] | |||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Noncontrolling Interest | 1 | ||||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | 73 | ||||
Parent Company [Member] | |||||
Foreign currency transaction | |||||
Beginning balance | (2,655) | (1,664) | (2,348) | (1,746) | |
Gains/(Losses) on foreign currency translation | (1,037) | (550) | (1,344) | (434) | |
Less: Net gain/(loss) on foreign currency translation, tax (tax benefit) | 0 | 0 | 0 | 53 | |
Net gain/(loss) on foreign currency translation | (1,037) | (550) | (1,344) | (487) | |
Gains/(Losses) reclassified from AOCI to income | 0 | 0 | 0 | 19 | |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | (1,037) | (550) | (1,344) | (468) | |
Ending balance | (3,692) | (2,214) | (3,692) | (2,214) | |
Derivative instruments | |||||
Beginning balance | (308) | (155) | (142) | 40 | |
Gains/(Losses) on Derivative Instruments, Net, Pretax | 453 | (128) | 86 | (336) | |
Less: Net gains/(losses) on derivative instruments, tax (tax benefit) | 196 | (35) | 86 | (125) | |
Net gains/(losses) on derivative instruments | 257 | (93) | 0 | (211) | |
Gains/(Losses) reclassified from AOCI to net income | 60 | 61 | 196 | (99) | |
Less: Gains/(Losses) reclassified from AOCI to net income, tax (tax benefit) | (57) | 16 | (12) | (67) | |
Net gains/(losses) reclassified from AOCI to net income | 117 | 45 | 208 | (32) | |
Other comprehensive income/(loss), Derivative Instruments, net of tax | 374 | (48) | 208 | (243) | |
Ending balance | 66 | (203) | 66 | (203) | |
Pension and other postretirement benefits | |||||
Beginning balance | (17,297) | (16,288) | (17,542) | (16,524) | |
Gains/(Losses) arising during period, before Tax | 4 | 0 | (765) | (13) | |
Less: Gains/(Losses) arising during period, tax (tax benefit) | 0 | 0 | (269) | (5) | |
Net gain/(loss) arising during the period | 4 | 0 | (496) | (8) | |
Amortization of prior service costs/(credits) | 0 | (5) | (2) | (14) | |
Amortization of (gains)/losses | 352 | 225 | 1,059 | 673 | |
Recognition of (gains)/losses due to curtailments | 0 | 0 | 0 | 0 | |
Recognition of (gains)/losses due to settlements | 9 | 0 | 9 | 14 | |
Less: Reclassification adjustment from AOCI,Tax (Tax Benefits) | 86 | 52 | 362 | 185 | |
Net amortization and (gains)/losses reclassified from AOCI to net income | 275 | 168 | 704 | 488 | |
Translation impact on non-U.S. plans | 202 | 372 | 518 | 296 | |
Other comprehensive income/(loss), Pension and other post retirement benefits, net of tax | 481 | 540 | 726 | 776 | |
Ending balance | (16,816) | (15,748) | (16,816) | (15,748) | |
Total AOCI ending balance | $ (20,442) | $ (18,165) | $ (20,442) | $ (18,165) |
Other Income and Loss (Details)
Other Income and Loss (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Other Income and Loss [Abstract] | ||||
Total - Automotive | $ 446 | $ 255 | $ 908 | $ 739 |
Total - Financial Services | 97 | 90 | 241 | 245 |
Automotive [Member] | ||||
Other Income and Loss [Abstract] | ||||
Investment-related interest Income | 60 | 65 | 161 | 145 |
Interest income/(expense) on income taxes | 0 | (3) | 1 | 34 |
Realized and unrealized gains/(losses) on cash equivalents and marketable securities | 189 | 7 | 146 | 7 |
Gains/(Losses) on changes in investments in affiliates | 0 | 0 | 18 | 1 |
Gains (Losses) on Extinguishment of Debt | 0 | 0 | 1 | (5) |
Royalty income | 149 | 142 | 448 | 444 |
Other | 48 | 44 | 133 | 113 |
Total - Automotive | 446 | 255 | 908 | 739 |
Financial Services [Member] | ||||
Other Income and Loss [Abstract] | ||||
Investment-related interest Income | 21 | 14 | 58 | 35 |
Interest income/(expense) on income taxes | (3) | 1 | (9) | (9) |
Realized and unrealized gains/(losses) on cash equivalents and marketable securities | 10 | (1) | 16 | 7 |
Insurance premiums earned | 32 | 31 | 97 | 94 |
Other | 37 | 45 | 79 | 118 |
Total - Financial Services | $ 97 | $ 90 | $ 241 | $ 245 |
Employee Separation Actions a62
Employee Separation Actions and Exit and Disposal Activities (Details) - Facility Closing [Member] - Automotive [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 21 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
AUSTRALIA | |||||
Business Restructuring [Abstract] | |||||
Restructuring and Related Cost, Total Expected Cost, Excluding Pension | $ 230 | ||||
Restructuring Reserve [Roll Forward] | |||||
Beginning Balance | $ 126 | 111 | |||
Change in accruals | 5 | 36 | |||
Payments | (6) | (16) | |||
Foreign Currency Translation | (11) | (17) | |||
Ending Balance | 114 | 114 | $ 111 | ||
Ford Europe [Member] | |||||
Business Restructuring [Abstract] | |||||
Restructuring and Related Cost, Total Incurred Cost, Excluding Pension | 1,100 | ||||
Restructuring Reserve [Roll Forward] | |||||
Beginning Balance | 173 | $ 643 | 730 | $ 497 | |
Change in accruals | (5) | 146 | (11) | 365 | |
Payments | (74) | (30) | (599) | (99) | |
Foreign Currency Translation | 0 | (57) | (26) | (61) | |
Ending Balance | $ 94 | $ 702 | $ 94 | $ 702 | $ 730 |
Changes in Investments in Aff63
Changes in Investments in Affiliates (Details) - Automotive [Member] - USD ($) $ in Millions | Mar. 31, 2015 | Jul. 31, 2015 | Jun. 30, 2015 | Jun. 30, 2014 | Oct. 31, 2011 |
Equity Securities [Member] | |||||
Changes in Investments in Affiliates, Nemak [Abstract] | |||||
Trading Securities, Unrealized Holding Gain | $ 166 | ||||
Ford Sollers Netherlands B.V. [Member] | |||||
Changes in Investment in Affiliates, Ford Sollers [Abstract] | |||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 50.00% | ||||
Fair Value Inputs, Discount Rate | 17.00% | ||||
Cash and cash and equivalents | $ 40 | ||||
Other receivables, net | 113 | ||||
Inventories | 258 | ||||
Net property | 541 | ||||
Other assets | 25 | ||||
Assets | 977 | ||||
Accounts Payable | 514 | ||||
Debt | 370 | ||||
Liabilities | 884 | ||||
Business Combination, Noncontrolling interest fair value | $ 93 | ||||
Ford Sollers Netherlands B.V. [Member] | Consolidation, Eliminations [Member] | |||||
Changes in Investment in Affiliates, Ford Sollers [Abstract] | |||||
Assets | (10) | ||||
Liabilities | $ (394) | ||||
Blue Diamond Truck, S de RL de CV [Member] | |||||
Changes in Investment in Affiliates, Blue diamond Truck, S de RL de CV [Abstract] | |||||
Equity Method Investment, Realized Gain (Loss) on Disposal | $ 19 | ||||
Ford Sollers Netherlands B.V. [Member] | |||||
Changes in Investment in Affiliates, Ford Sollers [Abstract] | |||||
Equity Method Investment, Ownership Percentage | 50.00% | ||||
Equity Method Investment, Other than Temporary Impairment | $ 329 |
Capital Stock and Earnings Pe64
Capital Stock and Earnings Per Share (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Basic and Diluted Income Attributable to Ford Motor Company [Abstract] | ||||
Basic income | $ 1,909 | $ 835 | $ 4,718 | $ 3,135 |
Diluted income | $ 1,909 | $ 847 | $ 4,718 | $ 3,171 |
Basic and Diluted Shares [Abstract] | ||||
Basic shares (average shares outstanding) | 3,969 | 3,861 | 3,968 | 3,915 |
Net dilutive options and unvested restricted stock units | 30 | 48 | 34 | 47 |
Diluted shares | 3,999 | 4,010 | 4,002 | 4,062 |
Convertible 2016 Notes [Member] | ||||
Basic and Diluted Income Attributable to Ford Motor Company [Abstract] | ||||
Effect of dilutive Convertible Notes | $ 0 | $ 12 | $ 0 | $ 36 |
Basic and Diluted Shares [Abstract] | ||||
Dilutive Convertible Notes | 0 | 101 | 0 | 100 |
Segment Information (Details)
Segment Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Segment Information [Line Items] | |||||
Revenues, Automotive | $ 35,818 | $ 32,779 | $ 102,723 | $ 102,020 | |
Revenues, Financial Services | 2,326 | 2,141 | 6,584 | 6,187 | |
Revenues, Total | 38,144 | 34,920 | 109,307 | 108,207 | |
Income (Loss) before income taxes | 2,859 | 1,021 | 7,132 | 4,398 | |
Total assets | 219,431 | 208,835 | 219,431 | 208,835 | $ 208,527 |
Automotive [Member] | |||||
Segment Information [Line Items] | |||||
Revenues, Automotive | 35,818 | 32,779 | 102,723 | 102,020 | |
Income (Loss) before income taxes | 2,333 | 526 | 5,646 | 3,012 | |
Total assets | 92,726 | 91,273 | 92,726 | 91,273 | 90,079 |
Automotive [Member] | Ford North America [Member] | |||||
Segment Information [Line Items] | |||||
Revenues, Automotive | 23,663 | 19,942 | 67,019 | 61,495 | |
Income (Loss) before income taxes | 2,670 | 1,410 | 6,607 | 5,350 | |
Total assets | 62,349 | 60,158 | 62,349 | 60,158 | |
Automotive [Member] | Ford South America [Member] | |||||
Segment Information [Line Items] | |||||
Revenues, Automotive | 1,582 | 2,335 | 4,589 | 6,337 | |
Income (Loss) before income taxes | (163) | (170) | (537) | (975) | |
Total assets | 4,707 | 6,710 | 4,707 | 6,710 | |
Automotive [Member] | Ford Europe [Member] | |||||
Segment Information [Line Items] | |||||
Revenues, Automotive | 6,998 | 6,844 | 20,859 | 22,680 | |
Income (Loss) before income taxes | (182) | (439) | (381) | (619) | |
Total assets | 15,345 | 15,079 | 15,345 | 15,079 | |
Automotive [Member] | Middle East and Africa [Member] | |||||
Segment Information [Line Items] | |||||
Revenues, Automotive | 930 | 1,077 | 2,891 | 3,404 | |
Income (Loss) before income taxes | (15) | (15) | 18 | 62 | |
Total assets | 1,297 | 1,258 | 1,297 | 1,258 | |
Automotive [Member] | Asia Pacific [Member] | |||||
Segment Information [Line Items] | |||||
Revenues, Automotive | 2,645 | 2,581 | 7,365 | 8,104 | |
Income (Loss) before income taxes | 20 | 44 | 315 | 494 | |
Total assets | 9,028 | 8,068 | 9,028 | 8,068 | |
Automotive [Member] | Other Automotive [Member] | |||||
Segment Information [Line Items] | |||||
Revenues, Automotive | 0 | 0 | 0 | 0 | |
Income (Loss) before income taxes | (163) | (144) | (542) | (537) | |
Total assets | 0 | 0 | 0 | 0 | |
Automotive [Member] | Special Items [Member] | |||||
Segment Information [Line Items] | |||||
Revenues, Automotive | 0 | 0 | 0 | 0 | |
Income (Loss) before income taxes | 166 | (160) | 166 | (763) | |
Total assets | 0 | 0 | 0 | 0 | |
Financial Services [Member] | |||||
Segment Information [Line Items] | |||||
Revenues, Financial Services | 2,326 | 2,141 | 6,584 | 6,187 | |
Income (Loss) before income taxes | 526 | 495 | 1,486 | 1,386 | |
Total assets | 130,626 | 120,472 | 130,626 | 120,472 | 121,388 |
Financial Services [Member] | Ford Credit [Member] | |||||
Segment Information [Line Items] | |||||
Revenues, Financial Services | 2,368 | 2,214 | 6,822 | 6,427 | |
Income (Loss) before income taxes | 541 | 498 | 1,530 | 1,431 | |
Total assets | 131,490 | 121,216 | 131,490 | 121,216 | |
Financial Services [Member] | Other Financial Services [Member] | |||||
Segment Information [Line Items] | |||||
Revenues, Financial Services | 0 | 37 | 0 | 105 | |
Income (Loss) before income taxes | (14) | (3) | (43) | (45) | |
Total assets | 2 | 391 | 2 | 391 | |
Financial Services [Member] | Elims, Intersegment [Member] | |||||
Segment Information [Line Items] | |||||
Revenues, Financial Services | (42) | (110) | (238) | (345) | |
Income (Loss) before income taxes | (1) | 0 | (1) | 0 | |
Total assets | (866) | (1,135) | (866) | (1,135) | |
Intersector [Member] | |||||
Segment Information [Line Items] | |||||
Total assets | 222,499 | 222,499 | $ 210,443 | ||
Intersector [Member] | Consolidation, Eliminations [Member] | |||||
Segment Information [Line Items] | |||||
Revenues, Financial Services | 0 | 0 | 0 | 0 | |
Income (Loss) before income taxes | 0 | 0 | 0 | 0 | |
Total assets | $ (3,921) | $ (2,910) | $ (3,921) | $ (2,910) |
Commitments and Contingencies66
Commitments and Contingencies (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Loss Contingency [Abstract] | |||
Loss contingency estimate | $ 2,300 | ||
Warranty [Abstract] | |||
Product warranty reserve, beginning balance | 4,785 | $ 3,927 | |
Payments made during the period | (2,036) | (2,186) | |
Changes in accrual related to warranties issued during the period | 1,523 | 1,506 | |
Changes in accrual related to pre-existing warranties | 495 | 1,522 | |
Foreign currency translation and other | (192) | (67) | |
Product warranty reserve, ending balance | 4,575 | $ 4,702 | |
Affiliated Entity [Member] | |||
Guarantees [Abstract] | |||
Maximum potential payments | 392 | $ 592 | |
Carrying value of recorded liabilities related to guarantees and indemnifications | $ 16 | $ 17 |