DOCUMENT AND ENTITY INFORMATION
DOCUMENT AND ENTITY INFORMATION Document - shares | 3 Months Ended | |
Mar. 31, 2018 | Apr. 20, 2018 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
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 | 3,914,101,588 | |
Class B Stock [Member] | ||
Entity Common Stock, Shares Outstanding | 70,852,076 |
CONSOLIDATED INCOME STATEMENT
CONSOLIDATED INCOME STATEMENT - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Revenues | ||
Ford Credit | $ 2,943 | $ 2,669 |
Total revenues (Note 3) | 41,959 | 39,146 |
Costs and expenses | ||
Cost of sales | 35,753 | 32,700 |
Selling, administrative, and other expenses | 2,747 | 2,764 |
Ford Credit interest, operating, and other expenses | 2,338 | 2,218 |
Total costs and expenses | 40,838 | 37,682 |
Other income/(loss), net | 863 | 734 |
Equity in net income of affiliated companies | 224 | 346 |
Income before income taxes | 1,919 | 2,251 |
Provision for/(Benefit from) income taxes | 174 | 652 |
Net income | 1,745 | 1,599 |
Less: Income/(Loss) attributable to noncontrolling interests | 9 | 7 |
Net income attributable to Ford Motor Company | $ 1,736 | $ 1,592 |
Basic income | ||
Basic income (in dollars per share) | $ 0.44 | $ 0.40 |
Diluted income | ||
Diluted income (in dollars per share) | 0.43 | 0.40 |
Cash dividends declared | $ 0.28 | $ 0.20 |
Operating Segments [Member] | Automotive | ||
Revenues | ||
Revenues | $ 39,012 | $ 36,475 |
Total revenues (Note 3) | 39,012 | 36,475 |
Costs and expenses | ||
Interest expense on Automotive debt | 275 | 279 |
Equity in net income of affiliated companies | 218 | 340 |
Income before income taxes | 1,732 | 2,175 |
Operating Segments [Member] | All Other | ||
Costs and expenses | ||
Interest expense on Automotive debt | 14 | 14 |
Operating Segments [Member] | Mobility Segment [Member] | ||
Revenues | ||
Revenues | 4 | 2 |
Total revenues (Note 3) | 4 | 2 |
Costs and expenses | ||
Equity in net income of affiliated companies | (1) | |
Income before income taxes | $ (102) | $ (64) |
CONSOLIDATED STATEMENT OF COMPR
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 1,745 | $ 1,599 |
Foreign currency translation | 295 | 242 |
Marketable Securities | (47) | (1) |
Derivative instruments | 33 | (168) |
Pension and other postretirement benefits | 8 | 9 |
Total other comprehensive income/(loss), net of tax | 289 | 82 |
Comprehensive income | 2,034 | 1,681 |
Less: Comprehensive income/(loss) attributable to noncontrolling interests | 8 | 5 |
Comprehensive income attributable to Ford Motor Company | $ 2,026 | $ 1,676 |
CONSOLIDATED BALANCE SHEET
CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and cash equivalents | $ 17,940 | $ 18,492 |
Marketable securities | 22,131 | 20,435 |
Financial Services finance receivables, net | 54,680 | 52,210 |
Ford Credit finance receivables, net | 111,801 | 108,392 |
Trade and other receivables, less allowances | 12,386 | 10,599 |
Inventories | 12,371 | 11,176 |
Other assets | 3,756 | 3,889 |
Total current assets | 123,264 | 116,801 |
Ford Credit finance receivables, net (Note 8) | 57,121 | 56,182 |
Net investment in operating leases | 28,331 | 28,235 |
Net property | 36,118 | 35,327 |
Equity in net assets of affiliated companies | 3,213 | 3,085 |
Deferred income taxes | 10,637 | 10,762 |
Other assets | 8,546 | 8,104 |
Total assets | 267,230 | 258,496 |
LIABILITIES | ||
Payables | 25,480 | 23,282 |
Other liabilities and deferred revenue (Note 12) | 21,415 | 19,697 |
Total current liabilities | 99,878 | 94,600 |
Other liabilities and deferred revenue (Note 12) | 24,845 | 24,711 |
Deferred income taxes | 622 | 815 |
Total liabilities | 230,696 | 222,792 |
Redeemable noncontrolling interest | 98 | 98 |
EQUITY | ||
Capital in excess of par value of stock | 21,841 | 21,843 |
Retained earnings | 22,529 | 21,906 |
Accumulated other comprehensive income/(loss) (Note 16) | (6,669) | (6,959) |
Treasury stock | (1,342) | (1,253) |
Total equity attributable to Ford Motor Company | 36,400 | 35,578 |
Equity attributable to noncontrolling interests | 36 | 28 |
Total equity | 36,436 | 35,606 |
Total liabilities and equity | 267,230 | 258,496 |
Common Stock [Member] | ||
EQUITY | ||
Common and Class B Stock | 40 | 40 |
Class B Stock [Member] | ||
EQUITY | ||
Common and Class B Stock | 1 | 1 |
Operating Segments [Member] | Automotive | ||
ASSETS | ||
Cash and cash equivalents | 9,159 | 8,930 |
Total assets | 107,091 | |
LIABILITIES | ||
Debt payable within one year | 3,751 | 3,356 |
Long-term Debt | 12,071 | 12,575 |
Debt | 15,822 | 15,931 |
Operating Segments [Member] | Ford Credit [Member] | ||
ASSETS | ||
Cash and cash equivalents | 8,766 | 9,558 |
Total assets | 164,582 | |
LIABILITIES | ||
Debt payable within one year | 49,232 | 48,265 |
Long-term Debt | 92,681 | 89,492 |
Debt | 141,913 | 137,757 |
Operating Segments [Member] | Other Segments [Member] | ||
LIABILITIES | ||
Long-term Debt | 599 | 599 |
Debt | 599 | 599 |
Variable Interest Entity, Primary Beneficiary [Member] | ||
ASSETS | ||
Cash and cash equivalents | 2,866 | 3,479 |
Ford Credit finance receivables, net | 59,145 | 56,250 |
Net investment in operating leases | 11,984 | 11,503 |
Other assets | 63 | 64 |
LIABILITIES | ||
Other liabilities and deferred revenue | 5 | 2 |
Debt | $ 50,366 | $ 46,437 |
CONSOLIDATED BALANCE SHEET (Par
CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) shares in Millions, $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
ASSETS | ||
Allowance for trade and other receivables | $ 411 | $ 392 |
Common Stock [Member] | ||
EQUITY | ||
Common Stock, par value (in dollars per share) | $ 0.01 | |
Common Stock, shares issued (in shares) | 3,998 | |
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 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract] | ||
Net cash provided by/(used in) operating activities | $ 3,514 | $ 4,336 |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations [Abstract] | ||
Capital spending | (1,779) | (1,706) |
Acquisitions of finance receivables and operating leases | (15,683) | (13,467) |
Collections of finance receivables and operating leases | 12,956 | 10,695 |
Purchases of equity and debt securities | (7,867) | (8,878) |
Sales and maturities of equity and debt securities | 6,040 | 9,551 |
Settlements of derivatives | (61) | 156 |
Other | (150) | (3) |
Net cash provided by/(used in) investing activities | (6,544) | (3,652) |
Net Cash Provided by (Used in) Financing Activities, Continuing Operations [Abstract] | ||
Cash dividends | (1,113) | (795) |
Purchases of common stock | (89) | 0 |
Net changes in short-term debt | (909) | 658 |
Proceeds from issuance of other debt | 16,953 | 13,253 |
Principal payments on other debt | (12,360) | (11,911) |
Other | (68) | (85) |
Net cash provided by/(used in) financing activities | 2,414 | 1,120 |
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 115 | 101 |
Cash, cash equivalents, and restricted cash at January 1 (Note 7) | 18,638 | 16,019 |
Cash, cash equivalents, and restricted cash at March 31 (Note 7) | 17,940 | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $ (501) | $ 1,905 |
CONSOLIDATED STATEMENT OF EQUIT
CONSOLIDATED STATEMENT OF EQUITY - USD ($) $ in Millions | Total | Capital Stock [Member] | Capital in Excess of Par Value of Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Parent [Member] | Equity Attributable to Non-controlling Interests [Member] |
Total equity/(deficit), beginning balance at Dec. 31, 2016 | $ 29,746 | $ 41 | $ 21,630 | $ 16,193 | $ (7,013) | $ (1,122) | $ 29,729 | $ 17 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 1,599 | 1,592 | 1,592 | 7 | ||||
Other comprehensive income/(loss), net of tax | 82 | 84 | 84 | (2) | ||||
Common stock issued (including share-based compensation impacts) | 1 | 1 | 1 | |||||
Treasury stock/other | 0 | 0 | ||||||
Cash dividends declared | (795) | (795) | (795) | |||||
Total equity/(deficit), ending balance at Mar. 31, 2017 | 31,205 | 41 | 21,637 | 17,556 | (6,929) | (1,122) | 31,183 | 22 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Adoption of accounting standards | 572 | 6 | 566 | 572 | ||||
Total equity/(deficit), beginning balance at Dec. 31, 2017 | 35,606 | 41 | 21,843 | 21,906 | (6,959) | (1,253) | 35,578 | 28 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 1,745 | 1,736 | 1,736 | 9 | ||||
Other comprehensive income/(loss), net of tax | 289 | 290 | 290 | (1) | ||||
Common stock issued (including share-based compensation impacts) | (2) | (2) | (2) | |||||
Treasury stock/other | (89) | (89) | (89) | |||||
Cash dividends declared | (1,113) | (1,113) | (1,113) | |||||
Total equity/(deficit), ending balance at Mar. 31, 2018 | $ 36,436 | $ 41 | $ 21,841 | $ 22,529 | $ (6,669) | $ (1,342) | $ 36,400 | $ 36 |
Presentation (Notes)
Presentation (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
PRESENTATION | PRESENTATION For purposes of this report, “Ford,” the “Company,” “we,” “our,” “us,” or similar references mean Ford Motor Company, our consolidated subsidiaries, and our consolidated VIEs of which we are the primary beneficiary, unless the context requires otherwise. We also make reference to Ford Motor Credit Company LLC, herein referenced to as Ford Credit. Our financial statements are presented in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information, instructions to Quarterly Report on Form 10-Q, and Rule 10-01 of Regulation S-X. In the opinion of management, these unaudited financial statements reflect a fair statement of our results of operations and financial condition for the periods, and at the dates, presented. The results for interim periods are not necessarily indicative of results that may be expected for any other interim period or for the full year. Reference should be made to the financial statements contained in our Annual Report on Form 10-K for the year ended December 31, 2017 (“ 2017 Form 10-K Report”). We reclassified certain prior year amounts in our consolidated financial statements to conform to the current year presentation. Change in Presentation Effective January 1, 2018, we changed our reportable segments to reflect the manner in which we now manage our business. Based on recent changes to our organization structure and how our Chief Operating Decision Maker (CODM) reviews operating results and makes decisions about resource allocation, we now have three reportable segments that represent the primary businesses reported in our consolidated financial statements: Automotive, Mobility, and Ford Credit. See Note 18 for a description of our new segment presentation. Change in Accounting We carry inventory on our consolidated balance sheet that is comprised of finished products, raw materials, work-in-process, and supplies. As of January 1, 2018, we changed our accounting method for U.S. inventories to a first-in, first-out basis from a last-in, first-out basis. We believe this change in accounting method is preferable as it is consistent with how we manage our business, results in a uniform method to value our inventory across all regions in our business, and improves comparability with our peers. The effect of this change was immaterial on our consolidated income statement, balance sheet, and statement of cash flow amounts for the interim period ended March 31, 2018 . We have retrospectively applied this change in accounting method to all prior periods. As of December 31, 2016, the cumulative effect of the change increased Retained earnings by $559 million . The effect of this change on our consolidated financial statements was as follows (in millions except for per share amounts): For the period ended March 31, 2017 Previously Reported As Revised Effect of Change Higher/(Lower) Income Statement Cost of Sales $ 32,708 $ 32,700 $ (8 ) Income before income taxes 2,243 2,251 8 Provision for/ (Benefit from) income taxes 649 652 3 Net income 1,594 1,599 5 Net income attributable to Ford Motor Company 1,587 1,592 5 Basic earning per share attributable to Ford Motor Company 0.40 0.40 — Diluted earning per share attributable to Ford Motor Company 0.40 0.40 — December 31, 2017 Previously Reported As Revised Effect of Change Higher/(Lower) Balance Sheet Inventories $ 10,277 $ 11,176 $ 899 Deferred income taxes (assets) 10,973 10,762 (211 ) Retained earnings 21,218 21,906 688 |
New Accounting Standards (Notes
New Accounting Standards (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
NEW ACCOUNTING STANDARDS | NEW ACCOUNTING STANDARDS Adoption of New Accounting Standards ASU 2017-12, Derivatives and Hedging. On January 1, 2018, we adopted the amendments to accounting standard codification 815 which aligns hedge accounting with risk management activities and simplifies the requirements to qualify for hedge accounting. Adoption did not have a material impact on our financial statements. We continue to assess opportunities enabled by the new standard to expand our risk management strategies. ASU 2016-01, Financial Instruments - Recognition and Measurement of Financial Assets and Financial Liabilities. On January 1, 2018, we adopted ASU 2016-01 and the related amendments. This standard amends various aspects of the recognition, measurement, presentation, and disclosure of financial instruments. We adopted the measurement alternative for equity investments without readily determinable fair values (often referred to as cost method investments) on a prospective basis. As a result, these investments will be revalued upon occurrence of an observable price change for similar investments and for impairments. We anticipate adoption may increase the volatility on our consolidated income statement. We also adopted the following standards during 2018 , none of which had a material impact to our financial statements or financial statement disclosures: Standard Effective Date 2017-08 Nonrefundable Fees and Other Costs - Premium Amortization on Purchased Callable Debt Securities January 1, 2018 2016-18 Statement of Cash Flows - Restricted Cash January 1, 2018 2016-16 Income Taxes - Intra-Entity Transfers of Assets Other Than Inventory January 1, 2018 2016-15 Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments January 1, 2018 Accounting Standards Issued But Not Yet Adopted The following represent the standards that will, or are expected to, result in a significant change in practice and/or have a significant financial impact to Ford. ASU 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments . In June 2016, the Financial Accounting Standards Board (“FASB”) issued a new accounting standard which replaces the current incurred loss impairment method with a method that reflects expected credit losses. The new standard is effective as of January 1, 2020, and early adoption is permitted as of January 1, 2019. We will adopt the new credit loss guidance by recognizing the cumulative effect of initially applying the new standard as an adjustment to the opening balance of Retained earnings . We anticipate adoption will increase the amount of expected credit losses reported in Ford Credit finance receivables, net on our consolidated balance sheet and do not expect a material impact to our consolidated income statement. NOTE 2. NEW ACCOUNTING STANDARDS (Continued) ASU 2016-02, Leases . In February 2016, the FASB issued a new accounting standard which provides guidance on the recognition, measurement, presentation, and disclosure of leases. The new standard supersedes the present U.S. GAAP standard on leases and requires substantially all leases to be reported on the balance sheet as right-of-use assets and lease obligations. We plan to adopt the new standard on its effective date of January 1, 2019. We anticipate adoption of the standard will add between $1.5 billion and $2 billion in right-of-use assets and lease obligations to our consolidated balance sheet and will not significantly impact results. We plan to elect the practical expedients upon transition that will retain the lease classification and initial direct costs for any leases that exist prior to adoption of the standard. We will not reassess whether any contracts entered into prior to adoption are leases. We are in the process of cataloging our existing lease contracts and implementing changes to our systems. |
Revenue (Notes)
Revenue (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
REVENUE | REVENUE The following table disaggregates our revenue by major source for the periods ended March 31 (in millions): First Quarter 2017 Automotive Mobility Ford Credit Consolidated Vehicles, parts, and accessories $ 34,996 $ — $ — $ 34,996 Used vehicles 873 — — 873 Extended service contracts 275 — — 275 Other revenue 224 2 49 275 Revenues from sales and services 36,368 2 49 36,419 Leasing income 107 — 1,366 1,473 Financing income — — 1,214 1,214 Insurance income — — 40 40 Total revenues $ 36,475 $ 2 $ 2,669 $ 39,146 First Quarter 2018 Automotive Mobility Ford Credit Consolidated Vehicles, parts, and accessories $ 37,417 $ — $ — $ 37,417 Used vehicles 928 — — 928 Extended service contracts 329 — — 329 Other revenue 219 4 55 278 Revenues from sales and services 38,893 4 55 38,952 Leasing income 119 — 1,415 1,534 Financing income — — 1,432 1,432 Insurance income — — 41 41 Total revenues $ 39,012 $ 4 $ 2,943 $ 41,959 NOTE 3. REVENUE (Continued) Revenue is recognized when obligations under the terms of a contract with our customer are satisfied; generally this occurs with the transfer of control of our vehicles, parts, accessories, or services. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or providing services. Sales, value add, and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. Incidental items that are immaterial in the context of the contract are recognized as expense. The expected costs associated with our base warranties continue to be recognized as expense when the products are sold. We recognize revenue for vehicle service contracts that extend mechanical and maintenance coverages beyond our base warranties over the life of the contract. We do not have any material significant payment terms as payment is received at or shortly after the point of sale. Automotive Segment Vehicles, Parts, and Accessories. For the majority of vehicles, parts, and accessories, we transfer control and recognize a sale when we ship the product from our manufacturing facility to our customer (dealers and distributors). We receive cash equal to the invoice price for most vehicle sales at the time of wholesale. When the vehicle sale is financed by our wholly-owned subsidiary Ford Credit, the dealer pays Ford Credit when it sells the vehicle to the retail customer. Payment terms on part sales to dealers, distributors, and retailers range from 30 days to 120 days . The amount of consideration we receive and revenue we recognize varies with changes in marketing incentives and returns we offer to our customers and their customers. When we give our dealers the right to return eligible parts and accessories, we estimate the expected returns based on an analysis of historical experience. We adjust our estimate of revenue at the earlier of when the most likely amount of consideration we expect to receive changes or when the consideration becomes fixed. As a result, we recorded a decrease to revenue recognized in prior periods of $610 million and $718 million in the first quarter of 2017 and 2018 , respectively. Depending on the terms of the arrangement, we may also defer the recognition of a portion of the consideration received because we have to satisfy a future obligation (e.g., free extended service contracts). We use an observable price to determine the stand-alone selling price for separate performance obligations or a cost plus margin approach when one is not available. We have elected to recognize the cost for freight and shipping when control over vehicles, parts, or accessories have transferred to the customer as an expense in Cost of sales . We sell vehicles to daily rental companies and guarantee that we will pay them the difference between an agreed amount and the value they are able to realize upon resale. At the time of transfer of vehicles to the daily rental companies, we record the probable amount we will pay under the guarantee to Other liabilities and deferred revenue. Used Vehicles. We sell used vehicles both at auction and through our consolidated dealerships. Proceeds from the sale of these vehicles are recognized in Automotive revenues upon transfer of control of the vehicle to the customer and the related vehicle carrying value is recognized in Cost of sales . Extended Service Contracts. We sell separately-priced service contracts that extend mechanical and maintenance coverages beyond our base warranty agreements to vehicle owners. The separately priced service contracts range from 12 months to 120 months . We receive payment at contract inception and recognize revenue over the term of the agreement in proportion to the costs we expect to incur in satisfying the contract obligations. At January 1, 2017 and December 31, 2017, $3.5 billion and $3.8 billion , respectively, of unearned revenue associated with outstanding contracts was reported in Other Liabilities and deferred revenue. We recognized $270 million and $298 million of the unearned amounts as revenue during the first quarter of 2017 and 2018 , respectively. At March 31, 2018 , the unearned amount was $3.9 billion . We expect to recognize approximately $900 million of the unearned amount in the remainder of 2018 , $1 billion in 2019 , and $2 billion thereafter. We record a premium deficiency reserve to the extent we estimate the future costs associated with these contracts exceed the unrecognized revenue. Amounts paid to dealers to obtain these contracts are deferred and recorded as Other assets . These costs are amortized to expense consistent with how the related revenue is recognized. We had a balance of $232 million and $244 million in deferred costs as of December 31, 2017 and March 31, 2018 , respectively, and recognized $15 million and $18 million of amortization during the first quarter of 2017 and 2018 , respectively. NOTE 3. REVENUE (Continued) Other Revenue. Other revenue consists primarily of net commissions received for serving as the agent in facilitating the sale of a third party’s products or services to our customers and payments for vehicle - related design and testing services we perform for others. We have applied the practical expedient to recognize Automotive revenues for vehicle-related design and testing services over the two to three year term of these agreements in proportion to the amount we have the right to invoice. Leasing Income. We sell vehicles to daily rental companies with an obligation to repurchase the vehicles for a guaranteed amount, exercisable at the option of the customer. The transactions are accounted for as operating leases. Upon the transfer of vehicles to the daily rental companies, we record proceeds received in Other liabilities and deferred revenue. The difference between the proceeds received and the guaranteed repurchase amount is recorded in Automotive revenues over the term of the lease using a straight-line method. The cost of the vehicle is recorded in Net investment in operating leases on our consolidated balance sheet and the difference between the cost of the vehicle and the estimated auction value is depreciated in Cost of sales over the term of the lease. Ford Credit Segment Leasing Income. Ford Credit offers leasing plans to retail consumers through Ford and Lincoln brand dealers who originate the leases. Ford Credit records an operating lease upon purchase of a vehicle subject to a lease from the dealer. The retail consumer makes lease payments representing the difference between Ford Credit’s purchase price of the vehicle and the contractual residual value of the vehicle, plus lease fees that we recognize on a straight-line basis over the term of the lease agreement. Depreciation and the gain or loss upon disposition of the vehicle is recorded in Ford Credit interest, operating, and other expenses . Financing Income. Ford Credit originates and purchases finance installment contracts. Financing income represents interest earned on the finance receivables (including direct financing leases). Interest is recognized using the interest method, and includes the amortization of certain direct origination costs. Insurance Income. Income from insurance contracts is recognized evenly over the term of the agreement. Insurance commission revenue is recognized on a net basis at the time of sale of the third party’s product or service to our customer. |
Other Income_(Loss) (Notes)
Other Income/(Loss) (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Other Income and Expenses [Abstract] | |
Other Income and Other Expense Disclosure [Text Block] | OTHER INCOME/(LOSS) The amounts included in Other income/(loss), net for the periods ended March 31 were as follows (in millions): First Quarter 2017 2018 Net periodic pension and OPEB income/(cost), excluding service cost $ 390 $ 477 Investment-related interest income 92 146 Interest income/(expense) on income taxes 1 1 Realized and unrealized gains/(losses) on cash equivalents and marketable securities 51 (5 ) Gains/(Losses) on changes in investments in affiliates (1 ) 58 Royalty income 154 143 Other 47 43 Total $ 734 $ 863 |
Income Taxes (Notes)
Income Taxes (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | INCOME TAXES For interim tax reporting, we estimate one single effective tax rate for tax jurisdictions not subject to a valuation allowance, which is applied to the year-to-date ordinary income/(loss). Tax effects of significant unusual or infrequently occurring items are excluded from the estimated annual effective tax rate calculation and recognized in the interim period in which they occur. For the first quarter of 2018 , our effective tax rate was 9.1% . During the first quarter of 2018 , we recognized $235 million of benefit for non-U.S. capital loss carryforwards expected to be realized in the foreseeable future. |
Capital Stock and Earnings Per
Capital Stock and Earnings Per Share (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
CAPITAL STOCK AND EARNINGS PER SHARE | CAPITAL STOCK AND EARNINGS PER SHARE Earnings Per Share Attributable to Ford Motor Company Common and Class B Stock Basic and diluted income per share were calculated using the following (in millions): First Quarter 2017 2018 Basic and Diluted Income Attributable to Ford Motor Company Basic income $ 1,592 $ 1,736 Diluted income 1,592 1,736 Basic and Diluted Shares Basic shares (average shares outstanding) 3,976 3,974 Net dilutive options, unvested restricted stock units, and restricted stock 23 23 Diluted shares 3,999 3,997 |
Cash, Cash Equivalents, and Mar
Cash, Cash Equivalents, and Marketable Securities (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES | CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES The fair values of cash, cash equivalents, and marketable securities measured at fair value on a recurring basis on our balance sheet were as follows (in millions): December 31, 2017 Fair Value Level Automotive Mobility Ford Credit Consolidated Cash and cash equivalents U.S. government 1 $ 913 $ — $ — $ 913 U.S. government agencies 2 433 — 300 733 Non-U.S. government and agencies 2 — — 703 703 Corporate debt 2 55 — 25 80 Total marketable securities classified as cash equivalents 1,401 — 1,028 2,429 Cash, time deposits, and money market funds 7,529 4 8,530 16,063 Total cash and cash equivalents $ 8,930 $ 4 $ 9,558 $ 18,492 Marketable securities U.S. government 1 $ 5,580 $ — $ 966 $ 6,546 U.S. government agencies 2 2,484 — 384 2,868 Non-U.S. government and agencies 2 5,270 — 660 5,930 Corporate debt 2 4,031 — 848 4,879 Equities 1 138 — — 138 Other marketable securities 2 51 — 23 74 Total marketable securities $ 17,554 $ — $ 2,881 $ 20,435 March 31, 2018 Fair Value Level Automotive Mobility Ford Credit Consolidated Cash and cash equivalents U.S. government 1 $ 55 $ — $ 44 $ 99 U.S. government agencies 2 150 — 50 200 Non-U.S. government and agencies 2 225 — 556 781 Corporate debt 2 54 — 274 328 Total marketable securities classified as cash equivalents 484 — 924 1,408 Cash, time deposits, and money market funds 8,675 15 7,842 16,532 Total cash and cash equivalents $ 9,159 $ 15 $ 8,766 $ 17,940 Marketable securities U.S. government 1 $ 4,808 $ — $ 1,116 $ 5,924 U.S. government agencies 2 2,511 — 265 2,776 Non-U.S. government and agencies 2 5,548 — 1,517 7,065 Corporate debt 2 5,198 — 680 5,878 Equities 1 154 — — 154 Other marketable securities 2 204 — 130 334 Total marketable securities $ 18,423 $ — $ 3,708 $ 22,131 NOTE 7. CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES (Continued) The cash equivalents and marketable securities accounted for as available-for-sale (“AFS”) debt securities on our balance sheet were as follows (in millions): December 31, 2017 Fair Value of Securities with Contractual Maturities Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Within 1 Year After 1 Year through 5 Years After 5 Years through 10 Years Automotive U.S. government $ 3,669 $ — $ (18 ) $ 3,651 $ 1,377 $ 2,274 $ — U.S. government agencies 1,915 — (15 ) 1,900 265 1,620 15 Non-U.S. government and agencies 4,021 — (28 ) 3,993 197 3,771 25 Corporate debt 1,716 1 (8 ) 1,709 194 1,509 6 Other marketable securities 17 — — 17 — 16 1 Total $ 11,338 $ 1 $ (69 ) $ 11,270 $ 2,033 $ 9,190 $ 47 March 31, 2018 Fair Value of Securities with Contractual Maturities Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Within 1 Year After 1 Year through 5 Years After 5 Years through 10 Years Automotive U.S. government $ 3,120 $ — $ (23 ) $ 3,097 $ 2,168 $ 929 $ — U.S. government agencies 2,010 — (24 ) 1,986 385 1,583 18 Non-U.S. government and agencies 4,047 — (56 ) 3,991 2 3,989 — Corporate debt 2,189 1 (29 ) 2,161 198 1,954 9 Other marketable securities 168 — (1 ) 167 — 110 57 Total $ 11,534 $ 1 $ (133 ) $ 11,402 $ 2,753 $ 8,565 $ 84 Sales proceeds and gross realized gains/(losses) from the sale of AFS debt securities prior to maturity, recorded in the income statement for the periods ended March 31 were as follows (in millions): First Quarter 2017 2018 Automotive Sales proceeds $ 1,301 $ 1,339 Gross realized gains 1 — Gross realized losses 2 6 NOTE 7. CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES (Continued) The present fair values and gross unrealized losses for cash equivalents and marketable securities accounted for as AFS debt securities that were in an unrealized loss position, aggregated by investment category and the length of time that individual securities have been in a continuous loss position, were as follows (in millions): December 31, 2017 Less than 1 year 1 Year or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Automotive U.S. government $ 2,382 $ (9 ) $ 903 $ (9 ) $ 3,285 $ (18 ) U.S. government agencies 1,625 (12 ) 260 (3 ) 1,885 (15 ) Non-U.S. government and agencies 3,148 (20 ) 510 (8 ) 3,658 (28 ) Corporate debt 1,396 (8 ) — — 1,396 (8 ) Total $ 8,551 $ (49 ) $ 1,673 $ (20 ) $ 10,224 $ (69 ) March 31, 2018 Less than 1 year 1 Year or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Automotive U.S. government $ 2,065 $ (13 ) $ 976 $ (10 ) $ 3,041 $ (23 ) U.S. government agencies 1,384 (16 ) 538 (8 ) 1,922 (24 ) Non-U.S. government and agencies 3,345 (46 ) 483 (10 ) 3,828 (56 ) Corporate debt 1,956 (29 ) — — 1,956 (29 ) Other marketable securities 148 (1 ) — — 148 (1 ) Total $ 8,898 $ (105 ) $ 1,997 $ (28 ) $ 10,895 $ (133 ) We determine other-than-temporary impairments on cash equivalents and marketable securities using a specific identification method. During the three months ended March 31, 2017 and 2018 , we did not recognize any other-than-temporary impairment loss. Cash, Cash Equivalents, and Restricted Cash Cash, cash equivalents, and restricted cash as reported in the consolidated statement of cash flows are presented separately on our consolidated balance sheet as follows (in millions): December 31, March 31, Cash and cash equivalents $ 18,492 $ 17,940 Restricted cash (a) 146 197 Total cash, cash equivalents, and restricted cash $ 18,638 $ 18,137 __________ (a) Included in Other assets in the non-current assets section of our consolidated balance sheet. Other Securities We have investments in entities for which we do not have the ability to exercise significant influence and fair values are not readily available. We have elected to record these investments at cost (less impairment, if any), adjusted for changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. We report the carrying value of these investments in Other assets in the non-current assets section of our consolidated balance sheet. These investments were $363 million and $369 million at December 31, 2017 and March 31, 2018 , respectively. There were no material adjustments to the fair values of these investments during the period ended March 31, 2018 . |
Financial Services Finance Rece
Financial Services Finance Receivables (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
FINANCIAL SERVICES FINANCE RECEIVABLES | FORD CREDIT FINANCE RECEIVABLES Ford Credit manages finance receivables as “consumer” and “non-consumer” portfolios. The receivables are generally secured by the vehicles, inventory, or other property being financed. Finance receivables, net were as follows (in millions): December 31, March 31, Consumer Retail financing, gross $ 78,331 $ 79,484 Unearned interest supplements (3,280 ) (3,258 ) Consumer finance receivables 75,051 76,226 Non-Consumer Dealer financing 33,938 36,175 Non-Consumer finance receivables 33,938 36,175 Total recorded investment $ 108,989 $ 112,401 Recorded investment in finance receivables $ 108,989 $ 112,401 Allowance for credit losses (597 ) (600 ) Finance receivables, net $ 108,392 $ 111,801 Current portion $ 52,210 $ 54,680 Non-current portion 56,182 57,121 Finance receivables, net $ 108,392 $ 111,801 Net finance receivables subject to fair value (a) $ 105,106 $ 108,297 Fair value 104,521 107,650 __________ (a) At December 31, 2017 and March 31, 2018 , Finance receivables, net includes $3.3 billion and $3.5 billion , respectively, of direct financing leases that are not subject to fair value disclosure requirements. The fair value of finance receivables is categorized within Level 3 of the fair value hierarchy. Excluded from finance receivables at December 31, 2017 and March 31, 2018 , was $240 million and $243 million , respectively, of accrued uncollected interest, which is reported as Other assets in the current assets section of our consolidated balance sheet. Included in the recorded investment in finance receivables at December 31, 2017 and March 31, 2018 , were consumer receivables of $38.9 billion and $39.3 billion , respectively, and non-consumer receivables of $24.5 billion and $26.6 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. NOTE 8. FORD CREDIT 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 $24 million and $23 million at December 31, 2017 and March 31, 2018 , respectively. The recorded investment of non-consumer receivables greater than 90 days past due and still accruing interest was $1 million and de minimus at December 31, 2017 and March 31, 2018 , respectively. The aging analysis of our finance receivables balances was as follows (in millions): December 31, March 31, Consumer 31-60 days past due $ 748 $ 667 61-90 days past due 113 85 91-120 days past due 36 33 Greater than 120 days past due 37 41 Total past due 934 826 Current 74,117 75,400 Consumer finance receivables 75,051 76,226 Non-Consumer Total past due 122 95 Current 33,816 36,080 Non-Consumer finance receivables 33,938 36,175 Total recorded investment $ 108,989 $ 112,401 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; and • Substandard – greater than 120 days past due and for which the uncollectible portion of the receivables has already been charged off, as measured using the fair value of collateral less costs to sell. Non-Consumer Portfolio. Dealers are assigned to one of four groups according to risk ratings as follows: • Group I – strong to superior financial metrics; • Group II – fair to favorable financial metrics; • Group III – marginal to weak financial metrics; and • Group IV – poor financial metrics, including dealers classified as uncollectible. NOTE 8. FORD CREDIT FINANCE RECEIVABLES (Continued) The credit quality analysis of our dealer financing receivables was as follows (in millions): December 31, March 31, Dealer Financing Group I $ 26,252 $ 27,533 Group II 5,908 6,690 Group III 1,640 1,844 Group IV 138 108 Total recorded investment $ 33,938 $ 36,175 Impaired Receivables. Impaired consumer receivables include accounts that have been rewritten or modified in reorganization proceedings pursuant to the U.S. Bankruptcy Code that are considered to be Troubled Debt Restructurings (“TDRs”), as well as all accounts greater than 120 days past due. Impaired non-consumer receivables represent accounts with dealers that have weak or poor financial metrics or dealer financing that has been modified in TDRs. The recorded investment of consumer receivables that were impaired at December 31, 2017 and March 31, 2018 was $386 million , or 0.5% of consumer receivables, and $380 million , or 0.5% of consumer receivables, respectively. The recorded investment of non-consumer receivables that were impaired at December 31, 2017 and March 31, 2018 was $138 million , or 0.4% of non-consumer receivables, and $108 million , or 0.3% of non-consumer receivables, respectively. Impaired finance receivables are evaluated both collectively and specifically. |
Financial Services Allowance fo
Financial Services Allowance for Credit Losses (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
FINANCIAL SERVICES ALLOWANCE FOR CREDIT LOSSES | FORD CREDIT ALLOWANCE FOR CREDIT LOSSES An analysis of the allowance for credit losses related to finance receivables for the periods ended March 31 was as follows (in millions): First Quarter 2017 Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 469 $ 15 $ 484 Charge-offs (123 ) (2 ) (125 ) Recoveries 34 — 34 Provision for credit losses 121 — 121 Other (a) 3 — 3 Ending balance (b) $ 504 $ 13 $ 517 Analysis of ending balance of allowance for credit losses Collective impairment allowance $ 483 $ 13 $ 496 Specific impairment allowance 21 — 21 Ending balance (b) 504 13 517 Analysis of ending balance of finance receivables Collectively evaluated for impairment 65,950 33,317 99,267 Specifically evaluated for impairment 385 164 549 Recorded investment 66,335 33,481 99,816 Ending balance, net of allowance for credit losses $ 65,831 $ 33,468 $ 99,299 __________ (a) Primarily represents amounts related to translation adjustments. (b) Total allowance, including reserves for operating leases, was $584 million . First Quarter 2018 Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 582 $ 15 $ 597 Charge-offs (131 ) (2 ) (133 ) Recoveries 39 1 40 Provision for credit losses 92 2 94 Other (a) 2 — 2 Ending balance (b) $ 584 $ 16 $ 600 Analysis of ending balance of allowance for credit losses Collective impairment allowance $ 563 $ 15 $ 578 Specific impairment allowance 21 1 22 Ending balance (b) 584 16 600 Analysis of ending balance of finance receivables Collectively evaluated for impairment 75,846 36,067 111,913 Specifically evaluated for impairment 380 108 488 Recorded investment 76,226 36,175 112,401 Ending balance, net of allowance for credit losses $ 75,642 $ 36,159 $ 111,801 __________ (a) Primarily represents amounts related to translation adjustments. (b) Total allowance, including reserves for operating leases, was $671 million . |
Inventories (Notes)
Inventories (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Inventory Disclosure [Abstract] | |
INVENTORIES | INVENTORIES Inventories were as follows (in millions): December 31, March 31, Raw materials, work-in-process, and supplies $ 4,397 $ 4,710 Finished products 6,779 7,661 Total inventories $ 11,176 $ 12,371 |
Goodwill (Notes)
Goodwill (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Goodwill Disclosure [Abstract] | |
Goodwill Disclosure [Text Block] | GOODWILL The net carrying amount of goodwill was $75 million and $274 million at December 31, 2017 and March 31, 2018, respectively, and is reported in Other Assets in the non-current section of our consolidated balance sheet . In the first quarter of 2018 , Mobility completed the acquisition of Autonomic and TransLoc which resulted in $199 million of goodwill. |
Other Liabilities and Deferred
Other Liabilities and Deferred Revenue (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Other Liabilities [Abstract] | |
OTHER LIABILITIES AND DEFERRED REVENUE | OTHER LIABILITIES AND DEFERRED REVENUE Other liabilities and deferred revenue were as follows (in millions): December 31, March 31, Current Dealer and dealers’ customer allowances and claims $ 10,902 $ 12,496 Deferred revenue 2,107 2,336 Employee benefit plans 1,661 1,352 Accrued interest 1,057 924 OPEB (a) 348 347 Pension (a) 229 232 Other 3,393 3,728 Total current other liabilities and deferred revenue $ 19,697 $ 21,415 Non-current Pension (a) $ 9,932 $ 9,980 OPEB (a) 5,821 5,755 Dealer and dealers’ customer allowances and claims 2,471 2,286 Deferred revenue 3,829 3,895 Employee benefit plans 1,139 1,156 Other 1,519 1,773 Total non-current other liabilities and deferred revenue $ 24,711 $ 24,845 __________ (a) Balances at March 31, 2018 reflect pension and OPEB liabilities at December 31, 2017 , updated (where applicable) for service and interest cost, expected return on assets, separation expense, interim remeasurement expense, actual benefit payments, and cash contributions. The discount rate and rate of expected return assumptions are unchanged from year-end 2017 . Included in Other assets are pension assets of $3.5 billion and $3.9 billion at December 31, 2017 and March 31, 2018 , respectively. |
Retirement Benefits (Notes)
Retirement Benefits (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Retirement Benefits [Abstract] | |
RETIREMENT BENEFITS | RETIREMENT BENEFITS Defined Benefit Plans - Expense The pre-tax net periodic benefit cost/(income) for our defined benefit pension and OPEB plans for the periods ended March 31 was as follows (in millions): First Quarter Pension Benefits U.S. Plans Non-U.S. Plans Worldwide OPEB 2017 2018 2017 2018 2017 2018 Service cost $ 133 $ 136 $ 134 $ 152 $ 12 $ 14 Interest cost 381 367 159 176 49 49 Expected return on assets (683 ) (722 ) (330 ) (334 ) — — Amortization of prior service costs/(credits) 36 36 9 6 (30 ) (27 ) Net remeasurement (gain)/loss — (26 ) — — — — Separation programs/other 3 11 16 2 — — Settlements and curtailments — (15 ) — — — — Net periodic benefit cost/(income) $ (130 ) $ (213 ) $ (12 ) $ 2 $ 31 $ 36 The service cost component is included in Cost of sales and Selling, administrative, and other expenses . Other components of net periodic benefit cost/(income) are included in Other income/(loss), net of our consolidated income statement. In the first quarter of 2018 , we recognized both a remeasurement gain and a curtailment gain related to amendments to our U.S. defined benefit plans for senior management. Effective December 31, 2019, the plans will have a 35-year limit for service and pay for purposes of determining the pension benefits. Pension Plan Contributions During 2018 , we expect to contribute about $500 million (most of which are mandatory contributions) from cash and cash equivalents to our global funded pension plans, and to make about $350 million of benefit payments to participants in unfunded plans, for a total of about $850 million . In the first quarter of 2018 , we contributed about $90 million to our global funded pension plans and made about $90 million of benefit payments to participants in unfunded plans. |
Debt (Notes)
Debt (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Debt Disclosure [Abstract] | |
DEBT | DEBT The carrying value of Automotive, Ford Credit, and Other debt was as follows (in millions): Automotive December 31, March 31, Debt payable within one year Short-term $ 1,396 $ 1,260 Long-term payable within one year Public unsecured debt securities 361 361 U.S. Department of Energy Advanced Technology Vehicles Manufacturing (“DOE ATVM”) Incentive Program 591 591 Other debt 1,031 1,563 Unamortized (discount)/premium (23 ) (24 ) Total debt payable within one year 3,356 3,751 Long-term debt payable after one year Public unsecured debt securities 9,033 9,033 DOE ATVM Incentive Program 2,060 1,913 Other debt 1,848 1,469 Adjustments Unamortized (discount)/premium (290 ) (269 ) Unamortized issuance costs (76 ) (75 ) Total long-term debt payable after one year 12,575 12,071 Total Automotive $ 15,931 $ 15,822 Fair value of Automotive debt (a) $ 17,976 $ 17,046 Ford Credit Debt payable within one year Short-term $ 17,153 $ 16,604 Long-term payable within one year Unsecured debt 13,298 14,195 Asset-backed debt 17,817 18,461 Adjustments Unamortized (discount)/premium 1 — Unamortized issuance costs (16 ) (18 ) Fair value adjustments (b) 12 (10 ) Total debt payable within one year 48,265 49,232 Long-term debt payable after one year Unsecured debt 55,687 56,504 Asset-backed debt 34,052 36,744 Adjustments Unamortized (discount)/premium (2 ) 1 Unamortized issuance costs (212 ) (218 ) Fair value adjustments (b) (33 ) (350 ) Total long-term debt payable after one year 89,492 92,681 Total Ford Credit $ 137,757 $ 141,913 Fair value of Ford Credit debt (a) $ 139,605 $ 142,891 Other Long-term debt payable after one year Unsecured debt $ 604 $ 604 Adjustments Unamortized (discount)/premium (3 ) (3 ) Unamortized issuance costs (2 ) (2 ) Total Other $ 599 $ 599 Fair value of Other debt $ 801 $ 763 __________ (a) The fair value of debt includes $1.1 billion and $1 billion of Automotive segment short-term debt and $16.4 billion and $15.5 billion of Ford Credit segment short-term debt at December 31, 2017 and March 31, 2018 , respectively, carried at cost, which approximates fair value. All other debt is categorized within Level 2 of the fair value hierarchy. (b) Adjustments related to designated fair value hedges of unsecured debt. |
Derivative Financial Instrument
Derivative Financial Instruments and Hedging Activities (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES | DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES In the normal course of business, our operations are exposed to global market risks, including the effect of changes in foreign currency exchange rates, certain commodity prices, and interest rates. To manage these risks, we enter into highly effective derivative contracts. We have elected to apply hedge accounting to certain derivatives. Derivatives that are designated in hedging relationships are evaluated for effectiveness using regression analysis at the time they are designated and throughout the hedge period. Some derivatives do not qualify for hedge accounting; for others, we elect not to apply hedge accounting. Income Effect of Derivative Financial Instruments The gains/(losses), by hedge designation, recorded in income for the periods ended March 31 were as follows (in millions): First Quarter 2017 2018 Cash flow hedges (a) Reclassified from AOCI to Cost of sales $ 118 $ 17 Fair value hedges Interest rate contracts Net interest settlements and accruals on hedging instruments 70 26 Fair value changes on hedging instruments (b) (89 ) (339 ) Fair value changes on hedged debt (b) 85 329 Derivatives not designated as hedging instruments Foreign currency exchange contracts (c) (208 ) (116 ) Cross-currency interest rate swap contracts 58 (58 ) Interest rate contracts 7 (17 ) Commodity contracts 42 (46 ) Total $ 83 $ (204 ) __________ (a) For the first quarter of 2017 and 2018 , a $112 million loss and a $61 million gain , respectively, were recorded in Other comprehensive income. (b) For the first quarter of 2017 , the fair value changes on hedging instruments and on hedged debt were recorded in Other income/(loss), net; effective first quarter 2018, these amounts were recorded in Ford Credit interest, operating, and other expenses. (c) For the first quarter of 2017 and 2018 , a $29 million loss and a $12 million loss were recorded in Other income/(loss), net and a $179 million loss and a $104 million loss were recorded in Cost of sales , respectively. NOTE 15. DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Continued) Balance Sheet Effect of Derivative Financial Instruments Derivative assets and liabilities are recorded on our consolidated balance sheet at fair value and are presented on a gross basis. The notional amounts of the derivative instruments do not necessarily represent amounts exchanged by the parties and are not a direct measure of our financial exposure. We also enter into master agreements with counterparties that may allow for netting of exposures in the event of default or breach of the counterparty agreement. Collateral represents cash received or paid under reciprocal arrangements that we have entered into with our derivative counterparties which we do not use to offset our derivative assets and liabilities. The fair value of our derivative instruments and the associated notional amounts, presented gross, were as follows (in millions): December 31, 2017 March 31, 2018 Notional Fair Value of Assets Fair Value of Liabilities Notional Fair Value of Assets Fair Value of Liabilities Cash flow hedges Foreign currency exchange contracts $ 19,595 $ 407 $ 306 $ 19,355 $ 376 $ 232 Fair value hedges Interest rate contracts 28,008 248 135 30,250 139 516 Derivatives not designated as hedging instruments Foreign currency exchange contracts 20,679 172 302 21,202 150 196 Cross-currency interest rate swap contracts 4,006 408 28 5,712 305 60 Interest rate contracts 60,504 276 137 60,453 282 184 Commodity contracts 660 37 4 645 3 24 Total derivative financial instruments, gross (a) (b) $ 133,452 $ 1,548 $ 912 $ 137,617 $ 1,255 $ 1,212 Current portion $ 802 $ 568 $ 647 $ 578 Non-current portion 746 344 608 634 Total derivative financial instruments, gross $ 1,548 $ 912 $ 1,255 $ 1,212 __________ (a) At December 31, 2017 and March 31, 2018 , we held collateral of $15 million and $22 million , and we posted collateral of $38 million and $55 million , respectively. (b) At December 31, 2017 and March 31, 2018 , the fair value of assets and liabilities available for counterparty netting was $618 million and $494 million , respectively . All derivatives are categorized within Level 2 of the fair value hierarchy. Fair Value Hedges The carrying value of and fair value adjustments to our hedged debt were as follows (in millions): December 31, 2017 March 31, 2018 Carrying Value Fair Value Adjustments (a) Carrying Value Fair Value Adjustments (a) Ford Credit debt payable within one year $ 5,186 $ 12 $ 5,899 $ (10 ) Ford Credit long-term debt 33,790 (33 ) 33,834 (350 ) Total $ 38,976 $ (21 ) $ 39,733 $ (360 ) __________ (a) At December 31, 2017 and March 31, 2018 , the balance includes unfavorable adjustments of $77 million and $66 million , respectively, related to discontinued hedging relationships. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income/(Loss) (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) | ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) The changes in the balances for each component of accumulated other comprehensive income/(loss) attributable to Ford Motor Company for the periods ended March 31 were as follows (in millions): First Quarter 2017 2018 Foreign currency translation Beginning balance $ (4,593 ) $ (4,277 ) Gains/(Losses) on foreign currency translation 189 244 Less: Tax/(Tax benefit) (54 ) (50 ) Net gains/(losses) on foreign currency translation 243 294 (Gains)/Losses reclassified from AOCI to net income (a) — 2 Other comprehensive income/(loss), net of tax 243 296 Ending balance $ (4,350 ) $ (3,981 ) Marketable securities Beginning balance $ (14 ) $ (48 ) Gains/(Losses) on available for sale securities 1 (69 ) Less: Tax/(Tax benefit) 3 (17 ) Net gains/(losses) on available for sale securities (2 ) (52 ) (Gains)/Losses reclassified from AOCI to net income 1 6 Less: Tax/(Tax benefit) — 1 Net (gains)/losses reclassified from AOCI to net income 1 5 Other comprehensive income/(loss), net of tax (1 ) (47 ) Ending balance $ (15 ) $ (95 ) Derivative instruments Beginning balance $ 283 $ 18 Gains/(Losses) on derivative instruments (112 ) 61 Less: Tax/(Tax benefit) (34 ) 15 Net gains/(losses) on derivative instruments (78 ) 46 (Gains)/Losses reclassified from AOCI to net income (118 ) (17 ) Less: Tax/(Tax benefit) (29 ) (4 ) Net (gains)/losses reclassified from AOCI to net income (b) (89 ) (13 ) Other comprehensive income/(loss), net of tax (167 ) 33 Ending balance $ 116 $ 51 Pension and other postretirement benefits Beginning balance $ (2,689 ) $ (2,652 ) Amortization and recognition of prior service costs/(credits) 15 15 Less: Tax/(Tax benefit) 5 3 Net prior service costs/(credits) reclassified from AOCI to net income 10 12 Translation impact on non-U.S. plans (1 ) (4 ) Other comprehensive income/(loss), net of tax 9 8 Ending balance $ (2,680 ) $ (2,644 ) Total AOCI ending balance at March 31 $ (6,929 ) $ (6,669 ) __________ (a) Reclassified to Other income/(loss), net. (b) Reclassified to Cost of sales . During the next twelve months we expect to reclassify existing net gains on cash flow hedges of $65 million . See Note 15 for additional information. |
Commitments and Contingencies (
Commitments and Contingencies (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES Commitments and contingencies primarily consist of guarantees and indemnifications, litigation and claims, and warranty. Guarantees and Indemnifications The maximum potential payments and the carrying value of recorded liabilities related to guarantees and limited indemnities were as follows (in millions): December 31, March 31, Maximum potential payments $ 1,397 $ 1,558 Carrying value of recorded liabilities related to guarantees and limited indemnities 408 447 Guarantees and indemnifications are recorded at fair value at their inception. We regularly review our performance risk under these arrangements, and in the event it becomes probable we will be required to perform under a guarantee or indemnity, the amount of probable payment is recorded. We guarantee the resale value of vehicles sold in certain arrangements to daily rental companies. The maximum potential payment of $1.4 billion as of March 31, 2018 included in the table above represents the total proceeds we guarantee the rental company will receive on re-sale. Reflecting our present estimate of proceeds the rental companies will receive on resale from third parties, we have recorded $435 million as our best estimate of the amount we will have to pay under the guarantee. We also guarantee debt and lease obligations of certain joint ventures, as well as certain financial obligations of outside third parties, including suppliers, to support our business and economic growth. Expiration dates vary through 2033, and guarantees will terminate on payment and/or cancellation of the underlying obligation. A payment by us would be triggered by failure of the joint venture or other third party to fulfill its obligation covered by the guarantee. In some circumstances, we are entitled to recover from a third party amounts paid by us under the guarantee. However, our ability to enforce these rights is sometimes stayed until the guaranteed party is paid in full, and may be limited in the event of insolvency of the third party or other circumstances. In the ordinary course of business, we execute contracts involving indemnifications standard in the industry and indemnifications specific to a transaction, such as the sale of a business. These indemnifications might include and are not limited to claims relating to any of the following: environmental, tax, and shareholder matters; intellectual property rights; power generation contracts; governmental regulations and employment-related matters; dealer, supplier, and other commercial contractual relationships; and financial matters, such as securitizations. Performance under these indemnities generally would be triggered by a breach of terms of the contract or by a third-party claim. While some of these indemnifications are limited in nature, many of them do not limit potential payment. Therefore, we are unable to estimate a maximum amount of future payments that could result from claims made under these unlimited indemnities. Litigation and Claims Various legal actions, proceedings, and claims (generally, “matters”) are pending or may be instituted or asserted against us. These include but are not limited to matters arising out of alleged defects in our products; product warranties; governmental regulations relating to safety, emissions, and fuel economy or other matters; government incentives; tax matters; alleged illegal acts resulting in fines or penalties; financial services; employment-related matters; dealer, supplier, and other contractual relationships; intellectual property rights; environmental matters; shareholder or investor matters; and financial reporting matters. Certain of the pending legal actions are, or purport to be, class actions. Some of the matters involve or may involve claims for compensatory, punitive, or antitrust or other treble damages in very large amounts, or demands for field service actions, environmental remediation programs, sanctions, loss of government incentives, assessments, or other relief, which, if granted, would require very large expenditures. The extent of our financial exposure to these matters is difficult to estimate. Many matters do not specify a dollar amount for damages, and many others specify only a jurisdictional minimum. To the extent an amount is asserted, our historical experience suggests that in most instances the amount asserted is not a reliable indicator of the ultimate outcome. NOTE 17. COMMITMENTS AND CONTINGENCIES (Continued) We accrue for matters when losses are deemed probable and reasonably estimable. In evaluating matters for accrual and disclosure purposes, we take into consideration factors such as our historical experience with matters of a similar nature, the specific facts and circumstances asserted, the likelihood that we will prevail, and the severity of any potential loss. We reevaluate and update our accruals as matters progress over time. For the majority of matters, which generally arise out of alleged defects in our products, we establish an accrual based on our extensive historical experience with similar matters. We do not believe there is a reasonably possible outcome materially in excess of our accrual for these matters. For the remaining matters, where our historical experience with similar matters is of more limited value (i.e., “non-pattern matters”), we evaluate the matters primarily based on the individual facts and circumstances. For non-pattern matters, we evaluate whether there is a reasonable possibility of a material loss in excess of any accrual that can be estimated. Our estimate of reasonably possible loss in excess of our accruals for all material matters currently reflects indirect tax and customs matters, for which we estimate the aggregate risk to be a range of up to a bout $700 million . 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 an amount for estimated cost associated with warranty and field service actions (i.e., safety recalls, emission recalls, and customer satisfaction actions) at the time of sale using a patterned estimation model that includes historical information regarding the nature, frequency, and average cost of claims for each vehicle line by model year. Warranty and field service action obligations are reported in Other liabilities and deferred revenue . We reevaluate the adequacy of our accruals on a regular basis. We recognize the benefit from a recovery of the costs associated with our warranty and field service actions when specifics of the recovery have been agreed with our supplier and the collection of the recovery is virtually certain. Recoveries are reported in Trade and other receivables and Other assets. The estimate of our future warranty and field service action costs, net of supplier recoveries, for the periods ended March 31 was as follows (in millions): First Quarter 2017 2018 Beginning balance $ 4,960 $ 5,296 Payments made during the period (840 ) (963 ) Changes in accrual related to warranties issued during the period 608 629 Changes in accrual related to pre-existing warranties 475 185 Foreign currency translation and other 34 9 Ending balance $ 5,237 $ 5,156 Revisions to our estimated costs are reported as changes in accrual related to pre-existing warranties in the table above. |
Segment Information (Notes)
Segment Information (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Segment Reporting [Abstract] | |
SEGMENT INFORMATION | SEGMENT INFORMATION Effective January 1, 2018, we changed our reportable segments to reflect the manner in which we now manage our business. Based on recent changes to our organization structure and how our Chief Operating Decision Maker (CODM) reviews operating results and makes decisions about resource allocation, we now have three reportable segments that represent the primary businesses reported in our consolidated financial statements: Automotive, Mobility, and Ford Credit. In addition to the change in reportable segments, consistent with how our CODM now assesses performance of the segments, we changed the measurement of our segment profits and losses as described below: • Global governance costs, which were previously reported as part of our Automotive segment, will now be reported as part of Corporate Other • Autonomous vehicle development costs, which were previously reported as part of our Automotive segment, will now be reported in Mobility • Interest income and portfolio gains and losses, which were previously reported in our segment results, will now be reported in Corporate Other. Interest expense (other than interest expense incurred by Ford Credit) will now be reported as a separate reconciling item. Prior period amounts were adjusted retrospectively to reflect the segment and measurement changes. Below is a description of our reportable segments and other activities. Automotive Segment Our Automotive segment primarily includes the sale of Ford and Lincoln vehicles, service parts, and accessories worldwide, together with the associated costs to develop, manufacture, distribute, and service the vehicles, parts, and accessories. This segment includes revenues and costs related to our electrification vehicle programs. The segment includes five regional business units: North America, South America, Europe, Middle East & Africa, and Asia Pacific. Mobility Segment Our Mobility segment primarily includes development costs related to our autonomous vehicles and our investment in emerging mobility services through Ford Smart Mobility LLC (“FSM”). FSM designs and builds mobility services on its own, and collaborates with start-ups and tech companies. Ford Credit Segment The Ford Credit segment is comprised of the Ford Credit business on a consolidated basis, which is primarily vehicle-related financing and leasing activities. Corporate Other Corporate Other primarily includes corporate governance costs, interest income (excluding interest earned on our extended service contract portfolio that is included in our Automotive segment) and portfolio gains and losses from our cash, cash equivalents, and marketable securities, and foreign exchange derivatives gains and losses associated with intercompany lending. Corporate governance costs are primarily administrative expenses supporting oversight or stewardship on behalf of the global enterprise and not allocated to specific business units or segments. This includes setting and directing global policy, establishment of global systems and processes, and promotion of the Company as a whole. The underlying assets and liabilities associated with these financial results remain with the respective Automotive and Mobility segments. Interest on Debt Interest on Debt is presented as a separate reconciling item and consists of interest expense on Automotive and other debt. The underlying liability is reported in the Automotive segment and in Corporate Other. NOTE 18. SEGMENT INFORMATION (Continued) Special Items Special Items are presented as a separate reconciling item. They consist of (i) pension and other postretirement employee benefits (“OPEB”) remeasurement gains and losses, (ii) significant personnel and dealer-related costs stemming from our efforts to match production capacity and cost structure to market demand and changing model mix, and (iii) certain infrequent significant items that we generally do not consider to be indicative of our ongoing operating activities. Our management excludes these items from its review of the results of the operating segments for purposes of measuring segment profitability and allocating resources. We also report these special items separately to help investors track amounts related to these activities and to allow investors analyzing our results to identify certain infrequent significant items that they may wish to exclude when considering the trend of ongoing operating results. Key financial information for the periods ended or at March 31 was as follows (in millions): Automotive Mobility Ford Credit Corporate Other Interest on Debt Special Items Adjustments Total First Quarter 2017 Revenues $ 36,475 $ 2 $ 2,669 $ — $ — $ — $ — $ 39,146 Income/(loss) before income taxes 2,175 (64 ) 481 (72 ) (293 ) 24 — 2,251 Equity in net income/(loss) of affiliated companies 340 (1 ) 7 — — — — 346 Cash, cash equivalents, and marketable securities 28,028 6 11,955 — — — — 39,989 Total assets 101,656 76 149,900 — — — (6,974 ) (a) 244,658 First Quarter 2018 Revenues $ 39,012 $ 4 $ 2,943 $ — $ — $ — $ — $ 41,959 Income/(loss) before income taxes 1,732 (102 ) 641 (86 ) (289 ) 23 — 1,919 Equity in net income/(loss) of affiliated companies 218 — 6 — — — — 224 Cash, cash equivalents, and marketable securities 27,582 15 12,474 — — — — 40,071 Total assets 107,091 452 164,582 — — — (4,895 ) (a) 267,230 __________ (a) Includes eliminations of intersegment transactions occurring in the ordinary course of business and deferred tax netting. |
Summary of Accounting Policies
Summary of Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Consolidation, Policy [Policy Text Block] | 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. |
Basis of Accounting, Policy [Policy Text Block] | Our financial statements are presented in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information, instructions to Quarterly Report on Form 10-Q, and Rule 10-01 of Regulation S-X. |
Reclassifications, Policy [Policy Text Block] | We reclassified certain prior year amounts in our consolidated financial statements to conform to the current year presentation. |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition, Policy [Policy Text Block] | Revenue is recognized when obligations under the terms of a contract with our customer are satisfied; generally this occurs with the transfer of control of our vehicles, parts, accessories, or services. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or providing services. Sales, value add, and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. Incidental items that are immaterial in the context of the contract are recognized as expense. The expected costs associated with our base warranties continue to be recognized as expense when the products are sold. We recognize revenue for vehicle service contracts that extend mechanical and maintenance coverages beyond our base warranties over the life of the contract. We do not have any material significant payment terms as payment is received at or shortly after the point of sale. Automotive Segment Vehicles, Parts, and Accessories. For the majority of vehicles, parts, and accessories, we transfer control and recognize a sale when we ship the product from our manufacturing facility to our customer (dealers and distributors). We receive cash equal to the invoice price for most vehicle sales at the time of wholesale. When the vehicle sale is financed by our wholly-owned subsidiary Ford Credit, the dealer pays Ford Credit when it sells the vehicle to the retail customer. Payment terms on part sales to dealers, distributors, and retailers range from 30 days to 120 days . The amount of consideration we receive and revenue we recognize varies with changes in marketing incentives and returns we offer to our customers and their customers. When we give our dealers the right to return eligible parts and accessories, we estimate the expected returns based on an analysis of historical experience. We adjust our estimate of revenue at the earlier of when the most likely amount of consideration we expect to receive changes or when the consideration becomes fixed. As a result, we recorded a decrease to revenue recognized in prior periods of $610 million and $718 million in the first quarter of 2017 and 2018 , respectively. Depending on the terms of the arrangement, we may also defer the recognition of a portion of the consideration received because we have to satisfy a future obligation (e.g., free extended service contracts). We use an observable price to determine the stand-alone selling price for separate performance obligations or a cost plus margin approach when one is not available. We have elected to recognize the cost for freight and shipping when control over vehicles, parts, or accessories have transferred to the customer as an expense in Cost of sales . We sell vehicles to daily rental companies and guarantee that we will pay them the difference between an agreed amount and the value they are able to realize upon resale. At the time of transfer of vehicles to the daily rental companies, we record the probable amount we will pay under the guarantee to Other liabilities and deferred revenue. Used Vehicles. We sell used vehicles both at auction and through our consolidated dealerships. Proceeds from the sale of these vehicles are recognized in Automotive revenues upon transfer of control of the vehicle to the customer and the related vehicle carrying value is recognized in Cost of sales . Extended Service Contracts. We sell separately-priced service contracts that extend mechanical and maintenance coverages beyond our base warranty agreements to vehicle owners. The separately priced service contracts range from 12 months to 120 months . We receive payment at contract inception and recognize revenue over the term of the agreement in proportion to the costs we expect to incur in satisfying the contract obligations. At January 1, 2017 and December 31, 2017, $3.5 billion and $3.8 billion , respectively, of unearned revenue associated with outstanding contracts was reported in Other Liabilities and deferred revenue. We recognized $270 million and $298 million of the unearned amounts as revenue during the first quarter of 2017 and 2018 , respectively. At March 31, 2018 , the unearned amount was $3.9 billion . We expect to recognize approximately $900 million of the unearned amount in the remainder of 2018 , $1 billion in 2019 , and $2 billion thereafter. We record a premium deficiency reserve to the extent we estimate the future costs associated with these contracts exceed the unrecognized revenue. Amounts paid to dealers to obtain these contracts are deferred and recorded as Other assets . These costs are amortized to expense consistent with how the related revenue is recognized. We had a balance of $232 million and $244 million in deferred costs as of December 31, 2017 and March 31, 2018 , respectively, and recognized $15 million and $18 million of amortization during the first quarter of 2017 and 2018 , respectively. NOTE 3. REVENUE (Continued) Other Revenue. Other revenue consists primarily of net commissions received for serving as the agent in facilitating the sale of a third party’s products or services to our customers and payments for vehicle - related design and testing services we perform for others. We have applied the practical expedient to recognize Automotive revenues for vehicle-related design and testing services over the two to three year term of these agreements in proportion to the amount we have the right to invoice. Leasing Income. We sell vehicles to daily rental companies with an obligation to repurchase the vehicles for a guaranteed amount, exercisable at the option of the customer. The transactions are accounted for as operating leases. Upon the transfer of vehicles to the daily rental companies, we record proceeds received in Other liabilities and deferred revenue. The difference between the proceeds received and the guaranteed repurchase amount is recorded in Automotive revenues over the term of the lease using a straight-line method. The cost of the vehicle is recorded in Net investment in operating leases on our consolidated balance sheet and the difference between the cost of the vehicle and the estimated auction value is depreciated in Cost of sales over the term of the lease. Ford Credit Segment Leasing Income. Ford Credit offers leasing plans to retail consumers through Ford and Lincoln brand dealers who originate the leases. Ford Credit records an operating lease upon purchase of a vehicle subject to a lease from the dealer. The retail consumer makes lease payments representing the difference between Ford Credit’s purchase price of the vehicle and the contractual residual value of the vehicle, plus lease fees that we recognize on a straight-line basis over the term of the lease agreement. Depreciation and the gain or loss upon disposition of the vehicle is recorded in Ford Credit interest, operating, and other expenses . Financing Income. Ford Credit originates and purchases finance installment contracts. Financing income represents interest earned on the finance receivables (including direct financing leases). Interest is recognized using the interest method, and includes the amortization of certain direct origination costs. Insurance Income. Income from insurance contracts is recognized evenly over the term of the agreement. Insurance commission revenue is recognized on a net basis at the time of sale of the third party’s product or service to our customer. |
RevenueTransactionPriceMeasurementTaxExclusionPolicy [Policy Text Block] | Sales, value add, and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. |
Revenue Recognition, Sales of Services [Policy Text Block] | Extended Service Contracts. We sell separately-priced service contracts that extend mechanical and maintenance coverages beyond our base warranty agreements to vehicle owners. The separately priced service contracts range from 12 months to 120 months . We receive payment at contract inception and recognize revenue over the term of the agreement in proportion to the costs we expect to incur in satisfying the contract obligations. At January 1, 2017 and December 31, 2017, $3.5 billion and $3.8 billion , respectively, of unearned revenue associated with outstanding contracts was reported in Other Liabilities and deferred revenue. We recognized $270 million and $298 million of the unearned amounts as revenue during the first quarter of 2017 and 2018 , respectively. At March 31, 2018 , the unearned amount was $3.9 billion . We expect to recognize approximately $900 million of the unearned amount in the remainder of 2018 , $1 billion in 2019 , and $2 billion thereafter. We record a premium deficiency reserve to the extent we estimate the future costs associated with these contracts exceed the unrecognized revenue. Amounts paid to dealers to obtain these contracts are deferred and recorded as Other assets . These costs are amortized to expense consistent with how the related revenue is recognized. We had a balance of $232 million and $244 million in deferred costs as of December 31, 2017 and March 31, 2018 , respectively, and recognized $15 million and $18 million of amortization during the first quarter of 2017 and 2018 , respectively. NOTE 3. REVENUE (Continued) Other Revenue. Other revenue consists primarily of net commissions received for serving as the agent in facilitating the sale of a third party’s products or services to our customers and payments for vehicle - related design and testing services we perform for others. We have applied the practical expedient to recognize Automotive revenues for vehicle-related design and testing services over the two to three year term of these agreements in proportion to the amount we have the right to invoice. |
Revenue Recognition Leases, Operating [Policy Text Block] | Leasing Income. We sell vehicles to daily rental companies with an obligation to repurchase the vehicles for a guaranteed amount, exercisable at the option of the customer. The transactions are accounted for as operating leases. Upon the transfer of vehicles to the daily rental companies, we record proceeds received in Other liabilities and deferred revenue. The difference between the proceeds received and the guaranteed repurchase amount is recorded in Automotive revenues over the term of the lease using a straight-line method. The cost of the vehicle is recorded in Net investment in operating leases on our consolidated balance sheet and the difference between the cost of the vehicle and the estimated auction value is depreciated in Cost of sales over the term of the lease. |
Revenue Recognition, Premiums Earned, Policy [Policy Text Block] | Insurance Income. Income from insurance contracts is recognized evenly over the term of the agreement. Insurance commission revenue is recognized on a net basis at the time of sale of the third party’s product or service to our customer. |
Income Tax Disclosure [Abstract] | |
Income Tax, Policy [Policy Text Block] | For interim tax reporting, we estimate one single effective tax rate for tax jurisdictions not subject to a valuation allowance, which is applied to the year-to-date ordinary income/(loss). Tax effects of significant unusual or infrequently occurring items are excluded from the estimated annual effective tax rate calculation and recognized in the interim period in which they occur. |
Investments, Debt and Equity Securities [Abstract] | |
Marketable Securities, Available-for-sale Securities, Policy [Policy Text Block] | We determine other-than-temporary impairments on cash equivalents and marketable securities using a specific identification method. |
Receivables [Abstract] | |
Finance Loans and Leases Receivable, Policy [Policy Text Block] | Leasing Income. Ford Credit offers leasing plans to retail consumers through Ford and Lincoln brand dealers who originate the leases. Ford Credit records an operating lease upon purchase of a vehicle subject to a lease from the dealer. The retail consumer makes lease payments representing the difference between Ford Credit’s purchase price of the vehicle and the contractual residual value of the vehicle, plus lease fees that we recognize on a straight-line basis over the term of the lease agreement. Depreciation and the gain or loss upon disposition of the vehicle is recorded in Ford Credit interest, operating, and other expenses . Financing Income. Ford Credit originates and purchases finance installment contracts. Financing income represents interest earned on the finance receivables (including direct financing leases). Interest is recognized using the interest method, and includes the amortization of certain direct origination costs. 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. 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. |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives, Policy [Policy Text Block] | Derivative assets and liabilities are recorded on our consolidated balance sheet at fair value and are presented on a gross basis. The notional amounts of the derivative instruments do not necessarily represent amounts exchanged by the parties and are not a direct measure of our financial exposure. We also enter into master agreements with counterparties that may allow for netting of exposures in the event of default or breach of the counterparty agreement. Collateral represents cash received or paid under reciprocal arrangements that we have entered into with our derivative counterparties which we do not use to offset our derivative assets and liabilities. In the normal course of business, our operations are exposed to global market risks, including the effect of changes in foreign currency exchange rates, certain commodity prices, and interest rates. To manage these risks, we enter into highly effective derivative contracts. We have elected to apply hedge accounting to certain derivatives. Derivatives that are designated in hedging relationships are evaluated for effectiveness using regression analysis at the time they are designated and throughout the hedge period. Some derivatives do not qualify for hedge accounting; for others, we elect not to apply hedge accounting. |
Commitments and Contingencies Disclosure [Abstract] | |
Guarantees, Indemnifications and Warranties Policies [Policy Text Block] | Guarantees and indemnifications are recorded at fair value at their inception. We regularly review our performance risk under these arrangements, and in the event it becomes probable we will be required to perform under a guarantee or indemnity, the amount of probable payment is recorded. We guarantee the resale value of vehicles sold in certain arrangements to daily rental companies. The maximum potential payment of $1.4 billion as of March 31, 2018 included in the table above represents the total proceeds we guarantee the rental company will receive on re-sale. Reflecting our present estimate of proceeds the rental companies will receive on resale from third parties, we have recorded $435 million as our best estimate of the amount we will have to pay under the guarantee. We also guarantee debt and lease obligations of certain joint ventures, as well as certain financial obligations of outside third parties, including suppliers, to support our business and economic growth. Expiration dates vary through 2033, and guarantees will terminate on payment and/or cancellation of the underlying obligation. A payment by us would be triggered by failure of the joint venture or other third party to fulfill its obligation covered by the guarantee. In some circumstances, we are entitled to recover from a third party amounts paid by us under the guarantee. However, our ability to enforce these rights is sometimes stayed until the guaranteed party is paid in full, and may be limited in the event of insolvency of the third party or other circumstances. In the ordinary course of business, we execute contracts involving indemnifications standard in the industry and indemnifications specific to a transaction, such as the sale of a business. These indemnifications might include and are not limited to claims relating to any of the following: environmental, tax, and shareholder matters; intellectual property rights; power generation contracts; governmental regulations and employment-related matters; dealer, supplier, and other commercial contractual relationships; and financial matters, such as securitizations. Performance under these indemnities generally would be triggered by a breach of terms of the contract or by a third-party claim. While some of these indemnifications are limited in nature, many of them do not limit potential payment. Therefore, we are unable to estimate a maximum amount of future payments that could result from claims made under these unlimited indemnities. Warranty and Field Service Actions We accrue an amount for estimated cost associated with warranty and field service actions (i.e., safety recalls, emission recalls, and customer satisfaction actions) at the time of sale using a patterned estimation model that includes historical information regarding the nature, frequency, and average cost of claims for each vehicle line by model year. Warranty and field service action obligations are reported in Other liabilities and deferred revenue . We reevaluate the adequacy of our accruals on a regular basis. We recognize the benefit from a recovery of the costs associated with our warranty and field service actions when specifics of the recovery have been agreed with our supplier and the collection of the recovery is virtually certain. Recoveries are reported in Trade and other receivables and Other assets. |
Commitments and Contingencies, Policy [Policy Text Block] | Litigation and Claims Various legal actions, proceedings, and claims (generally, “matters”) are pending or may be instituted or asserted against us. These include but are not limited to matters arising out of alleged defects in our products; product warranties; governmental regulations relating to safety, emissions, and fuel economy or other matters; government incentives; tax matters; alleged illegal acts resulting in fines or penalties; financial services; employment-related matters; dealer, supplier, and other contractual relationships; intellectual property rights; environmental matters; shareholder or investor matters; and financial reporting matters. Certain of the pending legal actions are, or purport to be, class actions. Some of the matters involve or may involve claims for compensatory, punitive, or antitrust or other treble damages in very large amounts, or demands for field service actions, environmental remediation programs, sanctions, loss of government incentives, assessments, or other relief, which, if granted, would require very large expenditures. The extent of our financial exposure to these matters is difficult to estimate. Many matters do not specify a dollar amount for damages, and many others specify only a jurisdictional minimum. To the extent an amount is asserted, our historical experience suggests that in most instances the amount asserted is not a reliable indicator of the ultimate outcome. NOTE 17. COMMITMENTS AND CONTINGENCIES (Continued) We accrue for matters when losses are deemed probable and reasonably estimable. In evaluating matters for accrual and disclosure purposes, we take into consideration factors such as our historical experience with matters of a similar nature, the specific facts and circumstances asserted, the likelihood that we will prevail, and the severity of any potential loss. We reevaluate and update our accruals as matters progress over time. For the majority of matters, which generally arise out of alleged defects in our products, we establish an accrual based on our extensive historical experience with similar matters. We do not believe there is a reasonably possible outcome materially in excess of our accrual for these matters. For the remaining matters, where our historical experience with similar matters is of more limited value (i.e., “non-pattern matters”), we evaluate the matters primarily based on the individual facts and circumstances. For non-pattern matters, we evaluate whether there is a reasonable possibility of a material loss in excess of any accrual that can be estimated. As noted, the litigation process is subject to many uncertainties, and the outcome of individual matters is not predictable with assurance. Our assessments are based on our knowledge and experience, but the ultimate outcome of any matter could require payment substantially in excess of the amount that we have accrued and/or disclosed. |
Segment Reporting [Abstract] | |
Segment Reporting, Policy [Policy Text Block] | Below is a description of our reportable segments and other activities. Automotive Segment Our Automotive segment primarily includes the sale of Ford and Lincoln vehicles, service parts, and accessories worldwide, together with the associated costs to develop, manufacture, distribute, and service the vehicles, parts, and accessories. This segment includes revenues and costs related to our electrification vehicle programs. The segment includes five regional business units: North America, South America, Europe, Middle East & Africa, and Asia Pacific. Mobility Segment Our Mobility segment primarily includes development costs related to our autonomous vehicles and our investment in emerging mobility services through Ford Smart Mobility LLC (“FSM”). FSM designs and builds mobility services on its own, and collaborates with start-ups and tech companies. Ford Credit Segment The Ford Credit segment is comprised of the Ford Credit business on a consolidated basis, which is primarily vehicle-related financing and leasing activities. Corporate Other Corporate Other primarily includes corporate governance costs, interest income (excluding interest earned on our extended service contract portfolio that is included in our Automotive segment) and portfolio gains and losses from our cash, cash equivalents, and marketable securities, and foreign exchange derivatives gains and losses associated with intercompany lending. Corporate governance costs are primarily administrative expenses supporting oversight or stewardship on behalf of the global enterprise and not allocated to specific business units or segments. This includes setting and directing global policy, establishment of global systems and processes, and promotion of the Company as a whole. The underlying assets and liabilities associated with these financial results remain with the respective Automotive and Mobility segments. Interest on Debt Interest on Debt is presented as a separate reconciling item and consists of interest expense on Automotive and other debt. The underlying liability is reported in the Automotive segment and in Corporate Other. NOTE 18. SEGMENT INFORMATION (Continued) Special Items Special Items are presented as a separate reconciling item. They consist of (i) pension and other postretirement employee benefits (“OPEB”) remeasurement gains and losses, (ii) significant personnel and dealer-related costs stemming from our efforts to match production capacity and cost structure to market demand and changing model mix, and (iii) certain infrequent significant items that we generally do not consider to be indicative of our ongoing operating activities. Our management excludes these items from its review of the results of the operating segments for purposes of measuring segment profitability and allocating resources. We also report these special items separately to help investors track amounts related to these activities and to allow investors analyzing our results to identify certain infrequent significant items that they may wish to exclude when considering the trend of ongoing operating results. |
Presentation Schedule of new ac
Presentation Schedule of new accounting pronouncements and changes in accounting principles (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Schedule of new accounting pronouncements and changes in accounting principles [Abstract] | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | The effect of this change on our consolidated financial statements was as follows (in millions except for per share amounts): For the period ended March 31, 2017 Previously Reported As Revised Effect of Change Higher/(Lower) Income Statement Cost of Sales $ 32,708 $ 32,700 $ (8 ) Income before income taxes 2,243 2,251 8 Provision for/ (Benefit from) income taxes 649 652 3 Net income 1,594 1,599 5 Net income attributable to Ford Motor Company 1,587 1,592 5 Basic earning per share attributable to Ford Motor Company 0.40 0.40 — Diluted earning per share attributable to Ford Motor Company 0.40 0.40 — December 31, 2017 Previously Reported As Revised Effect of Change Higher/(Lower) Balance Sheet Inventories $ 10,277 $ 11,176 $ 899 Deferred income taxes (assets) 10,973 10,762 (211 ) Retained earnings 21,218 21,906 688 |
Revenue (Tables)
Revenue (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
DisaggregationOfRevenue | The following table disaggregates our revenue by major source for the periods ended March 31 (in millions): First Quarter 2017 Automotive Mobility Ford Credit Consolidated Vehicles, parts, and accessories $ 34,996 $ — $ — $ 34,996 Used vehicles 873 — — 873 Extended service contracts 275 — — 275 Other revenue 224 2 49 275 Revenues from sales and services 36,368 2 49 36,419 Leasing income 107 — 1,366 1,473 Financing income — — 1,214 1,214 Insurance income — — 40 40 Total revenues $ 36,475 $ 2 $ 2,669 $ 39,146 First Quarter 2018 Automotive Mobility Ford Credit Consolidated Vehicles, parts, and accessories $ 37,417 $ — $ — $ 37,417 Used vehicles 928 — — 928 Extended service contracts 329 — — 329 Other revenue 219 4 55 278 Revenues from sales and services 38,893 4 55 38,952 Leasing income 119 — 1,415 1,534 Financing income — — 1,432 1,432 Insurance income — — 41 41 Total revenues $ 39,012 $ 4 $ 2,943 $ 41,959 |
Other Income_(Loss) (Tables)
Other Income/(Loss) (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Other Income and Expenses [Abstract] | |
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | The amounts included in Other income/(loss), net for the periods ended March 31 were as follows (in millions): First Quarter 2017 2018 Net periodic pension and OPEB income/(cost), excluding service cost $ 390 $ 477 Investment-related interest income 92 146 Interest income/(expense) on income taxes 1 1 Realized and unrealized gains/(losses) on cash equivalents and marketable securities 51 (5 ) Gains/(Losses) on changes in investments in affiliates (1 ) 58 Royalty income 154 143 Other 47 43 Total $ 734 $ 863 |
Capital Stock and Earnings Pe30
Capital Stock and Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block] | Basic and diluted income per share were calculated using the following (in millions): First Quarter 2017 2018 Basic and Diluted Income Attributable to Ford Motor Company Basic income $ 1,592 $ 1,736 Diluted income 1,592 1,736 Basic and Diluted Shares Basic shares (average shares outstanding) 3,976 3,974 Net dilutive options, unvested restricted stock units, and restricted stock 23 23 Diluted shares 3,999 3,997 |
Cash, Cash Equivalents, and M31
Cash, Cash Equivalents, and Marketable Securities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Schedule Cash, Cash Equivalents, and Restricted Cash [Table Text Block] | Cash, Cash Equivalents, and Restricted Cash Cash, cash equivalents, and restricted cash as reported in the consolidated statement of cash flows are presented separately on our consolidated balance sheet as follows (in millions): December 31, March 31, Cash and cash equivalents $ 18,492 $ 17,940 Restricted cash (a) 146 197 Total cash, cash equivalents, and restricted cash $ 18,638 $ 18,137 __________ (a) Included in Other assets in the non-current assets section of our consolidated balance sheet. |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | The fair values of cash, cash equivalents, and marketable securities measured at fair value on a recurring basis on our balance sheet were as follows (in millions): December 31, 2017 Fair Value Level Automotive Mobility Ford Credit Consolidated Cash and cash equivalents U.S. government 1 $ 913 $ — $ — $ 913 U.S. government agencies 2 433 — 300 733 Non-U.S. government and agencies 2 — — 703 703 Corporate debt 2 55 — 25 80 Total marketable securities classified as cash equivalents 1,401 — 1,028 2,429 Cash, time deposits, and money market funds 7,529 4 8,530 16,063 Total cash and cash equivalents $ 8,930 $ 4 $ 9,558 $ 18,492 Marketable securities U.S. government 1 $ 5,580 $ — $ 966 $ 6,546 U.S. government agencies 2 2,484 — 384 2,868 Non-U.S. government and agencies 2 5,270 — 660 5,930 Corporate debt 2 4,031 — 848 4,879 Equities 1 138 — — 138 Other marketable securities 2 51 — 23 74 Total marketable securities $ 17,554 $ — $ 2,881 $ 20,435 March 31, 2018 Fair Value Level Automotive Mobility Ford Credit Consolidated Cash and cash equivalents U.S. government 1 $ 55 $ — $ 44 $ 99 U.S. government agencies 2 150 — 50 200 Non-U.S. government and agencies 2 225 — 556 781 Corporate debt 2 54 — 274 328 Total marketable securities classified as cash equivalents 484 — 924 1,408 Cash, time deposits, and money market funds 8,675 15 7,842 16,532 Total cash and cash equivalents $ 9,159 $ 15 $ 8,766 $ 17,940 Marketable securities U.S. government 1 $ 4,808 $ — $ 1,116 $ 5,924 U.S. government agencies 2 2,511 — 265 2,776 Non-U.S. government and agencies 2 5,548 — 1,517 7,065 Corporate debt 2 5,198 — 680 5,878 Equities 1 154 — — 154 Other marketable securities 2 204 — 130 334 Total marketable securities $ 18,423 $ — $ 3,708 $ 22,131 |
Available-for-sale Securities [Table Text Block] | December 31, 2017 Fair Value of Securities with Contractual Maturities Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Within 1 Year After 1 Year through 5 Years After 5 Years through 10 Years Automotive U.S. government $ 3,669 $ — $ (18 ) $ 3,651 $ 1,377 $ 2,274 $ — U.S. government agencies 1,915 — (15 ) 1,900 265 1,620 15 Non-U.S. government and agencies 4,021 — (28 ) 3,993 197 3,771 25 Corporate debt 1,716 1 (8 ) 1,709 194 1,509 6 Other marketable securities 17 — — 17 — 16 1 Total $ 11,338 $ 1 $ (69 ) $ 11,270 $ 2,033 $ 9,190 $ 47 March 31, 2018 Fair Value of Securities with Contractual Maturities Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Within 1 Year After 1 Year through 5 Years After 5 Years through 10 Years Automotive U.S. government $ 3,120 $ — $ (23 ) $ 3,097 $ 2,168 $ 929 $ — U.S. government agencies 2,010 — (24 ) 1,986 385 1,583 18 Non-U.S. government and agencies 4,047 — (56 ) 3,991 2 3,989 — Corporate debt 2,189 1 (29 ) 2,161 198 1,954 9 Other marketable securities 168 — (1 ) 167 — 110 57 Total $ 11,534 $ 1 $ (133 ) $ 11,402 $ 2,753 $ 8,565 $ 84 Sales proceeds and gross realized gains/(losses) from the sale of AFS debt securities prior to maturity, recorded in the income statement for the periods ended March 31 were as follows (in millions): First Quarter 2017 2018 Automotive Sales proceeds $ 1,301 $ 1,339 Gross realized gains 1 — Gross realized losses 2 6 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | The present fair values and gross unrealized losses for cash equivalents and marketable securities accounted for as AFS debt securities that were in an unrealized loss position, aggregated by investment category and the length of time that individual securities have been in a continuous loss position, were as follows (in millions): December 31, 2017 Less than 1 year 1 Year or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Automotive U.S. government $ 2,382 $ (9 ) $ 903 $ (9 ) $ 3,285 $ (18 ) U.S. government agencies 1,625 (12 ) 260 (3 ) 1,885 (15 ) Non-U.S. government and agencies 3,148 (20 ) 510 (8 ) 3,658 (28 ) Corporate debt 1,396 (8 ) — — 1,396 (8 ) Total $ 8,551 $ (49 ) $ 1,673 $ (20 ) $ 10,224 $ (69 ) March 31, 2018 Less than 1 year 1 Year or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Automotive U.S. government $ 2,065 $ (13 ) $ 976 $ (10 ) $ 3,041 $ (23 ) U.S. government agencies 1,384 (16 ) 538 (8 ) 1,922 (24 ) Non-U.S. government and agencies 3,345 (46 ) 483 (10 ) 3,828 (56 ) Corporate debt 1,956 (29 ) — — 1,956 (29 ) Other marketable securities 148 (1 ) — — 148 (1 ) Total $ 8,898 $ (105 ) $ 1,997 $ (28 ) $ 10,895 $ (133 ) |
Financial Services Finance Re32
Financial Services Finance Receivables (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
Net finance receivables [Table Text Block] | Finance receivables, net were as follows (in millions): December 31, March 31, Consumer Retail financing, gross $ 78,331 $ 79,484 Unearned interest supplements (3,280 ) (3,258 ) Consumer finance receivables 75,051 76,226 Non-Consumer Dealer financing 33,938 36,175 Non-Consumer finance receivables 33,938 36,175 Total recorded investment $ 108,989 $ 112,401 Recorded investment in finance receivables $ 108,989 $ 112,401 Allowance for credit losses (597 ) (600 ) Finance receivables, net $ 108,392 $ 111,801 Current portion $ 52,210 $ 54,680 Non-current portion 56,182 57,121 Finance receivables, net $ 108,392 $ 111,801 Net finance receivables subject to fair value (a) $ 105,106 $ 108,297 Fair value 104,521 107,650 __________ (a) At December 31, 2017 and March 31, 2018 , Finance receivables, net includes $3.3 billion and $3.5 billion , respectively, of direct financing leases that are not subject to fair value disclosure requirements. The fair value of finance receivables is categorized within Level 3 of the fair value hierarchy. |
Aging analysis for total finance receivables [Text Block] | The aging analysis of our finance receivables balances was as follows (in millions): December 31, March 31, Consumer 31-60 days past due $ 748 $ 667 61-90 days past due 113 85 91-120 days past due 36 33 Greater than 120 days past due 37 41 Total past due 934 826 Current 74,117 75,400 Consumer finance receivables 75,051 76,226 Non-Consumer Total past due 122 95 Current 33,816 36,080 Non-Consumer finance receivables 33,938 36,175 Total recorded investment $ 108,989 $ 112,401 |
Financing receivable credit quality indicators [Table Text Block] | The credit quality analysis of our dealer financing receivables was as follows (in millions): December 31, March 31, Dealer Financing Group I $ 26,252 $ 27,533 Group II 5,908 6,690 Group III 1,640 1,844 Group IV 138 108 Total recorded investment $ 33,938 $ 36,175 |
Financial Services Allowance 33
Financial Services Allowance for Credit Losses (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
Allowance For Credit Losses on Financing And Loans And Leases Receivable [Table Text Block] | An analysis of the allowance for credit losses related to finance receivables for the periods ended March 31 was as follows (in millions): First Quarter 2017 Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 469 $ 15 $ 484 Charge-offs (123 ) (2 ) (125 ) Recoveries 34 — 34 Provision for credit losses 121 — 121 Other (a) 3 — 3 Ending balance (b) $ 504 $ 13 $ 517 Analysis of ending balance of allowance for credit losses Collective impairment allowance $ 483 $ 13 $ 496 Specific impairment allowance 21 — 21 Ending balance (b) 504 13 517 Analysis of ending balance of finance receivables Collectively evaluated for impairment 65,950 33,317 99,267 Specifically evaluated for impairment 385 164 549 Recorded investment 66,335 33,481 99,816 Ending balance, net of allowance for credit losses $ 65,831 $ 33,468 $ 99,299 __________ (a) Primarily represents amounts related to translation adjustments. (b) Total allowance, including reserves for operating leases, was $584 million . First Quarter 2018 Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 582 $ 15 $ 597 Charge-offs (131 ) (2 ) (133 ) Recoveries 39 1 40 Provision for credit losses 92 2 94 Other (a) 2 — 2 Ending balance (b) $ 584 $ 16 $ 600 Analysis of ending balance of allowance for credit losses Collective impairment allowance $ 563 $ 15 $ 578 Specific impairment allowance 21 1 22 Ending balance (b) 584 16 600 Analysis of ending balance of finance receivables Collectively evaluated for impairment 75,846 36,067 111,913 Specifically evaluated for impairment 380 108 488 Recorded investment 76,226 36,175 112,401 Ending balance, net of allowance for credit losses $ 75,642 $ 36,159 $ 111,801 __________ (a) Primarily represents amounts related to translation adjustments. (b) Total allowance, including reserves for operating leases, was $671 million . |
Inventories (Tables)
Inventories (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory [Table Text Block] | Inventories were as follows (in millions): December 31, March 31, Raw materials, work-in-process, and supplies $ 4,397 $ 4,710 Finished products 6,779 7,661 Total inventories $ 11,176 $ 12,371 |
Other Liabilities and Deferre35
Other Liabilities and Deferred Revenue (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Other Liabilities [Abstract] | |
Schedule of Accrued Liabilities and Deferred Revenue [Table Text Block] | Other liabilities and deferred revenue were as follows (in millions): December 31, March 31, Current Dealer and dealers’ customer allowances and claims $ 10,902 $ 12,496 Deferred revenue 2,107 2,336 Employee benefit plans 1,661 1,352 Accrued interest 1,057 924 OPEB (a) 348 347 Pension (a) 229 232 Other 3,393 3,728 Total current other liabilities and deferred revenue $ 19,697 $ 21,415 Non-current Pension (a) $ 9,932 $ 9,980 OPEB (a) 5,821 5,755 Dealer and dealers’ customer allowances and claims 2,471 2,286 Deferred revenue 3,829 3,895 Employee benefit plans 1,139 1,156 Other 1,519 1,773 Total non-current other liabilities and deferred revenue $ 24,711 $ 24,845 __________ (a) Balances at March 31, 2018 reflect pension and OPEB liabilities at December 31, 2017 , updated (where applicable) for service and interest cost, expected return on assets, separation expense, interim remeasurement expense, actual benefit payments, and cash contributions. The discount rate and rate of expected return assumptions are unchanged from year-end 2017 . Included in Other assets are pension assets of $3.5 billion and $3.9 billion at December 31, 2017 and March 31, 2018 , respectively. |
Retirement Benefits (Tables)
Retirement Benefits (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Retirement Benefits [Abstract] | |
Schedule of defined benefit plans expense [Table Text Block] | The pre-tax net periodic benefit cost/(income) for our defined benefit pension and OPEB plans for the periods ended March 31 was as follows (in millions): First Quarter Pension Benefits U.S. Plans Non-U.S. Plans Worldwide OPEB 2017 2018 2017 2018 2017 2018 Service cost $ 133 $ 136 $ 134 $ 152 $ 12 $ 14 Interest cost 381 367 159 176 49 49 Expected return on assets (683 ) (722 ) (330 ) (334 ) — — Amortization of prior service costs/(credits) 36 36 9 6 (30 ) (27 ) Net remeasurement (gain)/loss — (26 ) — — — — Separation programs/other 3 11 16 2 — — Settlements and curtailments — (15 ) — — — — Net periodic benefit cost/(income) $ (130 ) $ (213 ) $ (12 ) $ 2 $ 31 $ 36 |
Debt (Tables)
Debt (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Debt Disclosure [Abstract] | |
Schedule of debt outstanding [Table Text Block] | The carrying value of Automotive, Ford Credit, and Other debt was as follows (in millions): Automotive December 31, March 31, Debt payable within one year Short-term $ 1,396 $ 1,260 Long-term payable within one year Public unsecured debt securities 361 361 U.S. Department of Energy Advanced Technology Vehicles Manufacturing (“DOE ATVM”) Incentive Program 591 591 Other debt 1,031 1,563 Unamortized (discount)/premium (23 ) (24 ) Total debt payable within one year 3,356 3,751 Long-term debt payable after one year Public unsecured debt securities 9,033 9,033 DOE ATVM Incentive Program 2,060 1,913 Other debt 1,848 1,469 Adjustments Unamortized (discount)/premium (290 ) (269 ) Unamortized issuance costs (76 ) (75 ) Total long-term debt payable after one year 12,575 12,071 Total Automotive $ 15,931 $ 15,822 Fair value of Automotive debt (a) $ 17,976 $ 17,046 Ford Credit Debt payable within one year Short-term $ 17,153 $ 16,604 Long-term payable within one year Unsecured debt 13,298 14,195 Asset-backed debt 17,817 18,461 Adjustments Unamortized (discount)/premium 1 — Unamortized issuance costs (16 ) (18 ) Fair value adjustments (b) 12 (10 ) Total debt payable within one year 48,265 49,232 Long-term debt payable after one year Unsecured debt 55,687 56,504 Asset-backed debt 34,052 36,744 Adjustments Unamortized (discount)/premium (2 ) 1 Unamortized issuance costs (212 ) (218 ) Fair value adjustments (b) (33 ) (350 ) Total long-term debt payable after one year 89,492 92,681 Total Ford Credit $ 137,757 $ 141,913 Fair value of Ford Credit debt (a) $ 139,605 $ 142,891 Other Long-term debt payable after one year Unsecured debt $ 604 $ 604 Adjustments Unamortized (discount)/premium (3 ) (3 ) Unamortized issuance costs (2 ) (2 ) Total Other $ 599 $ 599 Fair value of Other debt $ 801 $ 763 __________ (a) The fair value of debt includes $1.1 billion and $1 billion of Automotive segment short-term debt and $16.4 billion and $15.5 billion of Ford Credit segment short-term debt at December 31, 2017 and March 31, 2018 , respectively, carried at cost, which approximates fair value. All other debt is categorized within Level 2 of the fair value hierarchy. (b) Adjustments related to designated fair value hedges of unsecured debt. |
Derivative Financial Instrume38
Derivative Financial Instruments and Hedging Activities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 March 31 were as follows (in millions): First Quarter 2017 2018 Cash flow hedges (a) Reclassified from AOCI to Cost of sales $ 118 $ 17 Fair value hedges Interest rate contracts Net interest settlements and accruals on hedging instruments 70 26 Fair value changes on hedging instruments (b) (89 ) (339 ) Fair value changes on hedged debt (b) 85 329 Derivatives not designated as hedging instruments Foreign currency exchange contracts (c) (208 ) (116 ) Cross-currency interest rate swap contracts 58 (58 ) Interest rate contracts 7 (17 ) Commodity contracts 42 (46 ) Total $ 83 $ (204 ) __________ (a) For the first quarter of 2017 and 2018 , a $112 million loss and a $61 million gain , respectively, were recorded in Other comprehensive income. (b) For the first quarter of 2017 , the fair value changes on hedging instruments and on hedged debt were recorded in Other income/(loss), net; effective first quarter 2018, these amounts were recorded in Ford Credit interest, operating, and other expenses. (c) For the first quarter of 2017 and 2018 , a $29 million loss and a $12 million loss were recorded in Other income/(loss), net and a $179 million loss and a $104 million loss were recorded in Cost of sales , respectively. |
Balance Sheet Effect of Derivative Instruments [Table Text Block] | The fair value of our derivative instruments and the associated notional amounts, presented gross, were as follows (in millions): December 31, 2017 March 31, 2018 Notional Fair Value of Assets Fair Value of Liabilities Notional Fair Value of Assets Fair Value of Liabilities Cash flow hedges Foreign currency exchange contracts $ 19,595 $ 407 $ 306 $ 19,355 $ 376 $ 232 Fair value hedges Interest rate contracts 28,008 248 135 30,250 139 516 Derivatives not designated as hedging instruments Foreign currency exchange contracts 20,679 172 302 21,202 150 196 Cross-currency interest rate swap contracts 4,006 408 28 5,712 305 60 Interest rate contracts 60,504 276 137 60,453 282 184 Commodity contracts 660 37 4 645 3 24 Total derivative financial instruments, gross (a) (b) $ 133,452 $ 1,548 $ 912 $ 137,617 $ 1,255 $ 1,212 Current portion $ 802 $ 568 $ 647 $ 578 Non-current portion 746 344 608 634 Total derivative financial instruments, gross $ 1,548 $ 912 $ 1,255 $ 1,212 __________ (a) At December 31, 2017 and March 31, 2018 , we held collateral of $15 million and $22 million , and we posted collateral of $38 million and $55 million , respectively. (b) At December 31, 2017 and March 31, 2018 , the fair value of assets and liabilities available for counterparty netting was $618 million and $494 million , respectively . All derivatives are categorized within Level 2 of the fair value hierarchy. |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Hedges The carrying value of and fair value adjustments to our hedged debt were as follows (in millions): December 31, 2017 March 31, 2018 Carrying Value Fair Value Adjustments (a) Carrying Value Fair Value Adjustments (a) Ford Credit debt payable within one year $ 5,186 $ 12 $ 5,899 $ (10 ) Ford Credit long-term debt 33,790 (33 ) 33,834 (350 ) Total $ 38,976 $ (21 ) $ 39,733 $ (360 ) __________ (a) At December 31, 2017 and March 31, 2018 , the balance includes unfavorable adjustments of $77 million and $66 million , respectively, related to discontinued hedging relationships. |
Accumulated Other Comprehensi39
Accumulated Other Comprehensive Income/(Loss) (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The changes in the balances for each component of accumulated other comprehensive income/(loss) attributable to Ford Motor Company for the periods ended March 31 were as follows (in millions): First Quarter 2017 2018 Foreign currency translation Beginning balance $ (4,593 ) $ (4,277 ) Gains/(Losses) on foreign currency translation 189 244 Less: Tax/(Tax benefit) (54 ) (50 ) Net gains/(losses) on foreign currency translation 243 294 (Gains)/Losses reclassified from AOCI to net income (a) — 2 Other comprehensive income/(loss), net of tax 243 296 Ending balance $ (4,350 ) $ (3,981 ) Marketable securities Beginning balance $ (14 ) $ (48 ) Gains/(Losses) on available for sale securities 1 (69 ) Less: Tax/(Tax benefit) 3 (17 ) Net gains/(losses) on available for sale securities (2 ) (52 ) (Gains)/Losses reclassified from AOCI to net income 1 6 Less: Tax/(Tax benefit) — 1 Net (gains)/losses reclassified from AOCI to net income 1 5 Other comprehensive income/(loss), net of tax (1 ) (47 ) Ending balance $ (15 ) $ (95 ) Derivative instruments Beginning balance $ 283 $ 18 Gains/(Losses) on derivative instruments (112 ) 61 Less: Tax/(Tax benefit) (34 ) 15 Net gains/(losses) on derivative instruments (78 ) 46 (Gains)/Losses reclassified from AOCI to net income (118 ) (17 ) Less: Tax/(Tax benefit) (29 ) (4 ) Net (gains)/losses reclassified from AOCI to net income (b) (89 ) (13 ) Other comprehensive income/(loss), net of tax (167 ) 33 Ending balance $ 116 $ 51 Pension and other postretirement benefits Beginning balance $ (2,689 ) $ (2,652 ) Amortization and recognition of prior service costs/(credits) 15 15 Less: Tax/(Tax benefit) 5 3 Net prior service costs/(credits) reclassified from AOCI to net income 10 12 Translation impact on non-U.S. plans (1 ) (4 ) Other comprehensive income/(loss), net of tax 9 8 Ending balance $ (2,680 ) $ (2,644 ) Total AOCI ending balance at March 31 $ (6,929 ) $ (6,669 ) __________ (a) Reclassified to Other income/(loss), net. (b) Reclassified to Cost of sales . During the next twelve months we expect to reclassify existing net gains on cash flow hedges of $65 million . See Note 15 for additional information. |
Commitments and Contingencies40
Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Guarantee obligations [Table Text Block] | The maximum potential payments and the carrying value of recorded liabilities related to guarantees and limited indemnities were as follows (in millions): December 31, March 31, Maximum potential payments $ 1,397 $ 1,558 Carrying value of recorded liabilities related to guarantees and limited indemnities 408 447 |
Warranty [Table Text Block] | The estimate of our future warranty and field service action costs, net of supplier recoveries, for the periods ended March 31 was as follows (in millions): First Quarter 2017 2018 Beginning balance $ 4,960 $ 5,296 Payments made during the period (840 ) (963 ) Changes in accrual related to warranties issued during the period 608 629 Changes in accrual related to pre-existing warranties 475 185 Foreign currency translation and other 34 9 Ending balance $ 5,237 $ 5,156 |
Segment Information (Tables)
Segment Information (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Key financial information for the periods ended or at March 31 was as follows (in millions): Automotive Mobility Ford Credit Corporate Other Interest on Debt Special Items Adjustments Total First Quarter 2017 Revenues $ 36,475 $ 2 $ 2,669 $ — $ — $ — $ — $ 39,146 Income/(loss) before income taxes 2,175 (64 ) 481 (72 ) (293 ) 24 — 2,251 Equity in net income/(loss) of affiliated companies 340 (1 ) 7 — — — — 346 Cash, cash equivalents, and marketable securities 28,028 6 11,955 — — — — 39,989 Total assets 101,656 76 149,900 — — — (6,974 ) (a) 244,658 First Quarter 2018 Revenues $ 39,012 $ 4 $ 2,943 $ — $ — $ — $ — $ 41,959 Income/(loss) before income taxes 1,732 (102 ) 641 (86 ) (289 ) 23 — 1,919 Equity in net income/(loss) of affiliated companies 218 — 6 — — — — 224 Cash, cash equivalents, and marketable securities 27,582 15 12,474 — — — — 40,071 Total assets 107,091 452 164,582 — — — (4,895 ) (a) 267,230 __________ (a) Includes eliminations of intersegment transactions occurring in the ordinary course of business and deferred tax netting. |
Presentation LIFO Restatement I
Presentation LIFO Restatement Income Statement (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||
Cost of Goods and Services Sold | $ 35,753 | $ 32,700 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 1,919 | 2,251 |
Income Tax Expense (Benefit) | 174 | 652 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 1,745 | 1,599 |
Net Income (Loss) Available to Common Stockholders, Basic | $ 1,736 | $ 1,592 |
Earnings Per Share, Basic | $ 0.44 | $ 0.40 |
Earnings Per Share, Diluted | $ 0.43 | $ 0.40 |
Scenario, Previously Reported [Member] | ||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||
Cost of Goods and Services Sold | $ 32,708 | |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 2,243 | |
Income Tax Expense (Benefit) | 649 | |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 1,594 | |
Net Income (Loss) Available to Common Stockholders, Basic | $ 1,587 | |
Earnings Per Share, Basic | $ 0.40 | |
Earnings Per Share, Diluted | $ 0.40 | |
Scenario, Adjustment [Member] | ||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||
Cost of Goods and Services Sold | $ (8) | |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 8 | |
Income Tax Expense (Benefit) | 3 | |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 5 | |
Net Income (Loss) Available to Common Stockholders, Basic | $ 5 | |
Earnings Per Share, Basic | $ 0 | |
Earnings Per Share, Diluted | $ 0 |
Presentation LIFO restatement B
Presentation LIFO restatement Balance Sheet (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
Inventory, Net | $ 12,371 | $ 11,176 | |
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent | 10,637 | 10,762 | |
Retained Earnings (Accumulated Deficit) | $ 22,529 | 21,906 | |
Scenario, Previously Reported [Member] | |||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
Inventory, Net | 10,277 | ||
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent | 10,973 | ||
Retained Earnings (Accumulated Deficit) | 21,218 | ||
Scenario, Adjustment [Member] | |||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
Inventory, Net | 899 | ||
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent | (211) | ||
Retained Earnings (Accumulated Deficit) | $ 688 | $ 559 |
Presentation Presentation (Deta
Presentation Presentation (Details) | 3 Months Ended |
Mar. 31, 2018 | |
Segment Reporting [Abstract] | |
Number of Operating Segments | 3 |
New Accounting Standards New Ac
New Accounting Standards New Accounting Standards - Effect of change related to ASU 2016-02 (Details) - Accounting Standards Update 2016-02 [Member] $ in Billions | Mar. 31, 2018USD ($) |
Minimum [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Right-of-use assets | $ 1.5 |
Lease obligations | 1.5 |
Maximum [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Right-of-use assets | 2 |
Lease obligations | $ 2 |
Revenue - Disaggregation of Rev
Revenue - Disaggregation of Revenue from Contract with Customer by Products and Services (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | $ 41,959 | $ 39,146 |
Vehicles, parts, and accessories | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 37,417 | 34,996 |
Used Vehicles [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 928 | 873 |
Extended service contracts | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 329 | 275 |
Other revenue | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 278 | 275 |
Revenues from sales and services | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 38,952 | 36,419 |
Leasing income | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 1,534 | 1,473 |
Financing income | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 1,432 | 1,214 |
Insurance income | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 41 | 40 |
Operating Segments [Member] | Automotive | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 39,012 | 36,475 |
Operating Segments [Member] | Automotive | Vehicles, parts, and accessories | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 37,417 | 34,996 |
Operating Segments [Member] | Automotive | Used Vehicles [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 928 | 873 |
Operating Segments [Member] | Automotive | Extended service contracts | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 329 | 275 |
Operating Segments [Member] | Automotive | Other revenue | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 219 | 224 |
Operating Segments [Member] | Automotive | Revenues from sales and services | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 38,893 | 36,368 |
Operating Segments [Member] | Automotive | Leasing income | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 119 | 107 |
Operating Segments [Member] | Automotive | Financing income | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 0 | 0 |
Operating Segments [Member] | Automotive | Insurance income | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 0 | 0 |
Operating Segments [Member] | Mobility Segment [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 4 | 2 |
Operating Segments [Member] | Mobility Segment [Member] | Vehicles, parts, and accessories | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 0 | 0 |
Operating Segments [Member] | Mobility Segment [Member] | Used Vehicles [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 0 | 0 |
Operating Segments [Member] | Mobility Segment [Member] | Extended service contracts | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 0 | 0 |
Operating Segments [Member] | Mobility Segment [Member] | Other revenue | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 4 | 2 |
Operating Segments [Member] | Mobility Segment [Member] | Revenues from sales and services | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 4 | 2 |
Operating Segments [Member] | Mobility Segment [Member] | Leasing income | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 0 | 0 |
Operating Segments [Member] | Mobility Segment [Member] | Financing income | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 0 | 0 |
Operating Segments [Member] | Mobility Segment [Member] | Insurance income | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 0 | 0 |
Operating Segments [Member] | Ford Credit [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 2,943 | 2,669 |
Operating Segments [Member] | Ford Credit [Member] | Vehicles, parts, and accessories | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 0 | 0 |
Operating Segments [Member] | Ford Credit [Member] | Used Vehicles [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 0 | 0 |
Operating Segments [Member] | Ford Credit [Member] | Extended service contracts | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 0 | 0 |
Operating Segments [Member] | Ford Credit [Member] | Other revenue | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 55 | 49 |
Operating Segments [Member] | Ford Credit [Member] | Revenues from sales and services | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 55 | 49 |
Operating Segments [Member] | Ford Credit [Member] | Leasing income | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 1,415 | 1,366 |
Operating Segments [Member] | Ford Credit [Member] | Financing income | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | 1,432 | 1,214 |
Operating Segments [Member] | Ford Credit [Member] | Insurance income | ||
Disaggregation of Revenue [Line Items] | ||
Revenue, excluding assessed tax | $ 41 | $ 40 |
Revenue Revenue - Remaining Per
Revenue Revenue - Remaining Performance Obligation (Details) - Operating Segments [Member] - Automotive - USD ($) $ in Millions | 3 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | Jan. 01, 2017 | |
Vehicles, parts, and accessories | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Revenue Performance Obligation Satisfied In Prior Period | $ (718) | $ (610) | ||
Vehicles, parts, and accessories | Minimum [Member] | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Revenue Performance Obligation Payment Terms | 30 days | |||
Vehicles, parts, and accessories | Maximum [Member] | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Revenue Performance Obligation Payment Terms | 120 days | |||
Extended service contracts | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Contract with Customer, Liability | $ 3,800 | $ 3,500 | ||
Contract with Customer, Liability, Revenue Recognized | $ 298 | 270 | ||
Deferrred cost | 244 | $ 232 | ||
Amortization | $ 18 | $ 15 | ||
Extended service contracts | Minimum [Member] | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Revenue remaining performance obligation expected timing of satisfaction period | 12 months | |||
Extended service contracts | Maximum [Member] | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Revenue remaining performance obligation expected timing of satisfaction period | 120 months | |||
Other revenue | Minimum [Member] | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Revenue remaining performance obligation expected timing of satisfaction period | 1 year | |||
Other revenue | Maximum [Member] | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Revenue remaining performance obligation expected timing of satisfaction period | 2 years |
Revenue Revenue Remaining Perfo
Revenue Revenue Remaining Performance Obligation, Expected Timing of Satisfaction (Details) - Extended service contracts - Automotive - Operating Segments [Member] $ in Millions | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue remaining performance obligation expected timing of satisfaction period | 1 year |
Revenue, Remaining Performance Obligation | $ 900 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue remaining performance obligation expected timing of satisfaction period | 1 year |
Revenue, Remaining Performance Obligation | $ 1,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue remaining performance obligation expected timing of satisfaction period | 8 years |
Revenue, Remaining Performance Obligation | $ 3,900 |
Other Income_(Loss) (Details)
Other Income/(Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Net periodic pension and OPEB income/(cost), excluding service cost | $ 477 | $ 390 |
Investment-related interest income | 146 | 92 |
Unrecognized Tax Benefits Interest Income | 1 | 1 |
Marketable Securities, Gain (Loss) | (5) | 51 |
Gains/(Losses) on changes in investments in affiliates | 58 | (1) |
Royalty Income, Nonoperating | 143 | 154 |
Other | 43 | 47 |
Total | $ 863 | $ 734 |
Income Taxes Income Taxes (Deta
Income Taxes Income Taxes (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Operating Loss Carryforwards [Line Items] | |
Effective Income Tax Rate | 9.10% |
Non-US [Member] | |
Operating Loss Carryforwards [Line Items] | |
Deferred Foreign Income Tax Expense/(Benefit) Expected | $ 235 |
Capital Stock and Earnings Pe51
Capital Stock and Earnings Per Share (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Basic and Diluted Income Attributable to Ford Motor Company [Abstract] | ||
Basic income | $ 1,736 | $ 1,592 |
Diluted income | $ 1,736 | $ 1,592 |
Basic and Diluted Shares [Abstract] | ||
Basic shares (average shares outstanding) | 3,974 | 3,976 |
Net dilutive options and unvested restricted stock units | 23 | 23 |
Diluted shares | 3,997 | 3,999 |
Cash, Cash Equivalents, and M52
Cash, Cash Equivalents, and Marketable Securities (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Items measured at fair value [Line Items] | ||||
Total cash and cash equivalents | $ 17,940 | $ 18,492 | ||
Restricted Cash | 197 | 146 | ||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 18,137 | 18,638 | $ 17,924 | $ 16,019 |
Fair Value, Measurements, Recurring [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 1,408 | 2,429 | ||
Marketable securities | 22,131 | 20,435 | ||
Fair Value, Estimate Not Practicable, Carrying (Reported) Amount [Member] | Investment Type [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash, time deposits, and money market funds | 16,532 | 16,063 | ||
U.S. government | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 99 | 913 | ||
Marketable securities | 5,924 | 6,546 | ||
U.S. government agencies | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 200 | 733 | ||
Marketable securities | 2,776 | 2,868 | ||
Non-U.S. government and agencies | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 781 | 703 | ||
Marketable securities | 7,065 | 5,930 | ||
Corporate debt | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 328 | 80 | ||
Marketable securities | 5,878 | 4,879 | ||
Equities | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Marketable securities | 154 | 138 | ||
Other marketable securities | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Marketable securities | 334 | 74 | ||
Operating Segments [Member] | Automotive | ||||
Items measured at fair value [Line Items] | ||||
Total cash and cash equivalents | 9,159 | 8,930 | ||
Operating Segments [Member] | Automotive | Fair Value, Measurements, Recurring [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 484 | 1,401 | ||
Marketable securities | 18,423 | 17,554 | ||
Operating Segments [Member] | Automotive | Fair Value, Estimate Not Practicable, Carrying (Reported) Amount [Member] | Investment Type [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash, time deposits, and money market funds | 8,675 | 7,529 | ||
Operating Segments [Member] | Automotive | U.S. government | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 55 | 913 | ||
Marketable securities | 4,808 | 5,580 | ||
Operating Segments [Member] | Automotive | U.S. government agencies | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 150 | 433 | ||
Marketable securities | 2,511 | 2,484 | ||
Operating Segments [Member] | Automotive | Non-U.S. government and agencies | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 225 | 0 | ||
Marketable securities | 5,548 | 5,270 | ||
Operating Segments [Member] | Automotive | Corporate debt | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 54 | 55 | ||
Marketable securities | 5,198 | 4,031 | ||
Operating Segments [Member] | Automotive | Equities | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Marketable securities | 154 | 138 | ||
Operating Segments [Member] | Automotive | Other marketable securities | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Marketable securities | 204 | 51 | ||
Operating Segments [Member] | Mobility Segment [Member] | ||||
Items measured at fair value [Line Items] | ||||
Total cash and cash equivalents | 15 | 4 | ||
Operating Segments [Member] | Mobility Segment [Member] | Fair Value, Measurements, Recurring [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | ||
Marketable securities | 0 | 0 | ||
Operating Segments [Member] | Mobility Segment [Member] | Fair Value, Estimate Not Practicable, Carrying (Reported) Amount [Member] | Investment Type [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash, time deposits, and money market funds | 15 | 4 | ||
Operating Segments [Member] | Mobility Segment [Member] | U.S. government | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | ||
Marketable securities | 0 | 0 | ||
Operating Segments [Member] | Mobility Segment [Member] | U.S. government agencies | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | ||
Marketable securities | 0 | 0 | ||
Operating Segments [Member] | Mobility Segment [Member] | Non-U.S. government and agencies | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | ||
Marketable securities | 0 | 0 | ||
Operating Segments [Member] | Mobility Segment [Member] | Corporate debt | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | ||
Marketable securities | 0 | 0 | ||
Operating Segments [Member] | Mobility Segment [Member] | Equities | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Marketable securities | 0 | 0 | ||
Operating Segments [Member] | Mobility Segment [Member] | Other marketable securities | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Marketable securities | 0 | 0 | ||
Operating Segments [Member] | Ford Credit [Member] | ||||
Items measured at fair value [Line Items] | ||||
Total cash and cash equivalents | 8,766 | 9,558 | ||
Operating Segments [Member] | Ford Credit [Member] | Fair Value, Measurements, Recurring [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 924 | 1,028 | ||
Marketable securities | 3,708 | 2,881 | ||
Operating Segments [Member] | Ford Credit [Member] | Fair Value, Estimate Not Practicable, Carrying (Reported) Amount [Member] | Investment Type [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash, time deposits, and money market funds | 7,842 | 8,530 | ||
Operating Segments [Member] | Ford Credit [Member] | U.S. government | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 44 | 0 | ||
Marketable securities | 1,116 | 966 | ||
Operating Segments [Member] | Ford Credit [Member] | U.S. government agencies | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 50 | 300 | ||
Marketable securities | 265 | 384 | ||
Operating Segments [Member] | Ford Credit [Member] | Non-U.S. government and agencies | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 556 | 703 | ||
Marketable securities | 1,517 | 660 | ||
Operating Segments [Member] | Ford Credit [Member] | Corporate debt | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Cash and cash equivalents | 274 | 25 | ||
Marketable securities | 680 | 848 | ||
Operating Segments [Member] | Ford Credit [Member] | Equities | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Marketable securities | 0 | 0 | ||
Operating Segments [Member] | Ford Credit [Member] | Other marketable securities | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Items measured at fair value [Line Items] | ||||
Marketable securities | $ 130 | $ 23 |
Cash, Cash Equivalents, and M53
Cash, Cash Equivalents, and Marketable Securities Available for Sale Securities (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, Gross Realized Gains (Losses), Sale Proceeds | $ 1,339,000,000 | $ 1,301,000,000 | |
Available-for-sale Securities, Gross Realized Gains | 0 | 1,000,000 | |
Available-for-sale Securities, Gross Realized Losses | 6,000,000 | 2,000,000 | |
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities | 0 | $ 0 | |
Operating Segments [Member] | Automotive | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, Amortized Cost Basis | 11,534,000,000 | $ 11,338,000,000 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 1,000,000 | 1,000,000 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | (133,000,000) | (69,000,000) | |
Available-for-sale Securities | 11,402,000,000 | 11,270,000,000 | |
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Fair Value | 2,753,000,000 | 2,033,000,000 | |
Available-for-sale Securities, Debt Maturities, Rolling Year Two Through Five, Fair Value | 8,565,000,000 | 9,190,000,000 | |
Available-for-sale Securities, Debt Maturities, Rolling Year Six Through Ten, Fair Value | 84,000,000 | 47,000,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 8,898,000,000 | 8,551,000,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (105,000,000) | (49,000,000) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,997,000,000 | 1,673,000,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (28,000,000) | (20,000,000) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 10,895,000,000 | 10,224,000,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (133,000,000) | (69,000,000) | |
Operating Segments [Member] | Automotive | U.S. government | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, Amortized Cost Basis | 3,120,000,000 | 3,669,000,000 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | (23,000,000) | (18,000,000) | |
Available-for-sale Securities | 3,097,000,000 | 3,651,000,000 | |
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Fair Value | 2,168,000,000 | 1,377,000,000 | |
Available-for-sale Securities, Debt Maturities, Rolling Year Two Through Five, Fair Value | 929,000,000 | 2,274,000,000 | |
Available-for-sale Securities, Debt Maturities, Rolling Year Six Through Ten, Fair Value | 0 | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 2,065,000,000 | 2,382,000,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (13,000,000) | (9,000,000) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 976,000,000 | 903,000,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (10,000,000) | (9,000,000) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 3,041,000,000 | 3,285,000,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (23,000,000) | (18,000,000) | |
Operating Segments [Member] | Automotive | U.S. government agencies | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, Amortized Cost Basis | 2,010,000,000 | 1,915,000,000 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | (24,000,000) | (15,000,000) | |
Available-for-sale Securities | 1,986,000,000 | 1,900,000,000 | |
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Fair Value | 385,000,000 | 265,000,000 | |
Available-for-sale Securities, Debt Maturities, Rolling Year Two Through Five, Fair Value | 1,583,000,000 | 1,620,000,000 | |
Available-for-sale Securities, Debt Maturities, Rolling Year Six Through Ten, Fair Value | 18,000,000 | 15,000,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 1,384,000,000 | 1,625,000,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (16,000,000) | (12,000,000) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 538,000,000 | 260,000,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (8,000,000) | (3,000,000) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,922,000,000 | 1,885,000,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (24,000,000) | (15,000,000) | |
Operating Segments [Member] | Automotive | Non-U.S. government and agencies | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, Amortized Cost Basis | 4,047,000,000 | 4,021,000,000 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | (56,000,000) | (28,000,000) | |
Available-for-sale Securities | 3,991,000,000 | 3,993,000,000 | |
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Fair Value | 2,000,000 | 197,000,000 | |
Available-for-sale Securities, Debt Maturities, Rolling Year Two Through Five, Fair Value | 3,989,000,000 | 3,771,000,000 | |
Available-for-sale Securities, Debt Maturities, Rolling Year Six Through Ten, Fair Value | 0 | 25,000,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 3,345,000,000 | 3,148,000,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (46,000,000) | (20,000,000) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 483,000,000 | 510,000,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (10,000,000) | (8,000,000) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 3,828,000,000 | 3,658,000,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (56,000,000) | (28,000,000) | |
Operating Segments [Member] | Automotive | Corporate debt | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, Amortized Cost Basis | 2,189,000,000 | 1,716,000,000 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 1,000,000 | 1,000,000 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | (29,000,000) | (8,000,000) | |
Available-for-sale Securities | 2,161,000,000 | 1,709,000,000 | |
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Fair Value | 198,000,000 | 194,000,000 | |
Available-for-sale Securities, Debt Maturities, Rolling Year Two Through Five, Fair Value | 1,954,000,000 | 1,509,000,000 | |
Available-for-sale Securities, Debt Maturities, Rolling Year Six Through Ten, Fair Value | 9,000,000 | 6,000,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 1,956,000,000 | 1,396,000,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (29,000,000) | (8,000,000) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,956,000,000 | 1,396,000,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (29,000,000) | (8,000,000) | |
Operating Segments [Member] | Automotive | Other marketable securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, Amortized Cost Basis | 168,000,000 | 17,000,000 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | (1,000,000) | 0 | |
Available-for-sale Securities | 167,000,000 | 17,000,000 | |
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Fair Value | 0 | 0 | |
Available-for-sale Securities, Debt Maturities, Rolling Year Two Through Five, Fair Value | 110,000,000 | 16,000,000 | |
Available-for-sale Securities, Debt Maturities, Rolling Year Six Through Ten, Fair Value | 57,000,000 | $ 1,000,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 148,000,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1,000,000) | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 148,000,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (1,000,000) |
Cash, Cash Equivalents, and M54
Cash, Cash Equivalents, and Marketable Securities Other Securities (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Investments, All Other Investments [Abstract] | ||
Cost Method Investments | $ 369 | $ 363 |
Financial Services Finance Re55
Financial Services Finance Receivables, net (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivables [Line Items] | ||||
Financing Receivable, Gross | $ 112,401 | $ 108,989 | $ 99,816 | |
Allowance for Credit Losses | (600) | (597) | (517) | $ (484) |
Finance receivables, net | 111,801 | 108,392 | 99,299 | |
Finance receivables, net - Current portion | 54,680 | 52,210 | ||
Finance receivables, net - Non-current portion | 57,121 | 56,182 | ||
Net finance receivables subject to fair value | 108,297 | 105,106 | ||
Finance Receivables Net Not Subject To Fair Value | 3,500 | 3,300 | ||
Uncollected Interest Receivable Excluded From Finance Receivable | 243 | 240 | ||
Consumer [Member] | ||||
Financing Receivables [Line Items] | ||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 23 | 24 | ||
Financing Receivable, Gross | 76,226 | 75,051 | 66,335 | |
Allowance for Credit Losses | (584) | (582) | (504) | (469) |
Finance receivables, net | 75,642 | 65,831 | ||
Consumer [Member] | Retail financing [Member] | ||||
Financing Receivables [Line Items] | ||||
Finance Receivable Before Unearned Interest Supplements | 79,484 | 78,331 | ||
Unearned interest supplements | (3,258) | (3,280) | ||
Financing Receivable, Gross | 76,226 | 75,051 | ||
Non-consumer [Member] | ||||
Financing Receivables [Line Items] | ||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 1 | ||
Financing Receivable, Gross | 36,175 | 33,938 | 33,481 | |
Allowance for Credit Losses | (16) | (15) | (13) | $ (15) |
Finance receivables, net | 36,159 | $ 33,468 | ||
Non-consumer [Member] | Dealer financing [Member] | ||||
Financing Receivables [Line Items] | ||||
Financing Receivable, Gross | 36,175 | 33,938 | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||
Financing Receivables [Line Items] | ||||
Fair value | 107,650 | 104,521 | ||
Securitization Transactions VIE Primary Beneficiary and Non-VIE Primary Beneficiary [Member] | Consumer [Member] | ||||
Financing Receivables [Line Items] | ||||
Financing Receivable, Gross | 39,300 | 38,900 | ||
Securitization Transactions VIE Primary Beneficiary and Non-VIE Primary Beneficiary [Member] | Non-consumer [Member] | ||||
Financing Receivables [Line Items] | ||||
Financing Receivable, Gross | $ 26,600 | $ 24,500 |
Financial Services Finance Re56
Financial Services Finance Receivables - Aging (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | |
Financing Receivables, Aging [Line Items] | |||
Number Of Days After Which Finance Receivable Is Considered Past Due | 31 days | ||
Financing Receivable, Gross | $ 112,401 | $ 108,989 | $ 99,816 |
Consumer [Member] | |||
Financing Receivables, Aging [Line Items] | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 23 | 24 | |
Financing Receivable, Recorded Investment, Past Due | 826 | 934 | |
Financing Receivable, Recorded Investment, Current | 75,400 | 74,117 | |
Financing Receivable, Gross | 76,226 | 75,051 | 66,335 |
Consumer [Member] | Financing Receivables, 31 to 60 Days Past due [Member] | |||
Financing Receivables, Aging [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 667 | 748 | |
Consumer [Member] | Financing Receivables, 61 to 90 Days Past due [Member] | |||
Financing Receivables, Aging [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 85 | 113 | |
Consumer [Member] | Financing Receivables, 91 to 120 Days Past due [Member] | |||
Financing Receivables, Aging [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 33 | 36 | |
Consumer [Member] | Financing Receivables, Greater than 120 Days Past due [Member] | |||
Financing Receivables, Aging [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 41 | 37 | |
Non-consumer [Member] | |||
Financing Receivables, Aging [Line Items] | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 1 | |
Financing Receivable, Recorded Investment, Past Due | 95 | 122 | |
Financing Receivable, Recorded Investment, Current | 36,080 | 33,816 | |
Financing Receivable, Gross | $ 36,175 | $ 33,938 | $ 33,481 |
Financial Services Finance Re57
Financial Services Finance Receivables - Credit Quality (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | |
Credit quality [Line Items] | |||
Financing Receivable By Credit Quality Indicator | $ 112,401 | $ 108,989 | $ 99,816 |
Consumer [Member] | |||
Credit quality [Line Items] | |||
Financing Receivable By Credit Quality Indicator | 76,226 | 75,051 | 66,335 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | $ 23 | 24 | |
Consumer [Member] | Minimum [Member] | Special Mention [Member] | |||
Credit quality [Line Items] | |||
Finance Receivables Credit Quality Ratings Term Range | 61 days | ||
Consumer [Member] | Minimum [Member] | Substandard [Member] | |||
Credit quality [Line Items] | |||
Finance Receivables Credit Quality Ratings Term Range | 120 days | ||
Consumer [Member] | Maximum [Member] | Pass [Member] | |||
Credit quality [Line Items] | |||
Finance Receivables Credit Quality Ratings Term Range | 60 days | ||
Consumer [Member] | Maximum [Member] | Special Mention [Member] | |||
Credit quality [Line Items] | |||
Finance Receivables Credit Quality Ratings Term Range | 120 days | ||
Non-consumer [Member] | |||
Credit quality [Line Items] | |||
Financing Receivable By Credit Quality Indicator | $ 36,175 | 33,938 | $ 33,481 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 1 | |
Non-consumer [Member] | Dealer financing [Member] | |||
Credit quality [Line Items] | |||
Financing Receivable By Credit Quality Indicator | 36,175 | 33,938 | |
Non-consumer [Member] | Dealer financing [Member] | Group I | |||
Credit quality [Line Items] | |||
Financing Receivable By Credit Quality Indicator | 27,533 | 26,252 | |
Non-consumer [Member] | Dealer financing [Member] | Group II | |||
Credit quality [Line Items] | |||
Financing Receivable By Credit Quality Indicator | 6,690 | 5,908 | |
Non-consumer [Member] | Dealer financing [Member] | Group III | |||
Credit quality [Line Items] | |||
Financing Receivable By Credit Quality Indicator | 1,844 | 1,640 | |
Non-consumer [Member] | Dealer financing [Member] | Group IV | |||
Credit quality [Line Items] | |||
Financing Receivable By Credit Quality Indicator | $ 108 | $ 138 |
Financial Services Finance Re58
Financial Services Finance Receivables - Impaired (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | |
Financing Receivable Impaired [Line Items] | ||
Number of Days Past Due After Which Consumer Receivables are Considered Impaired | 120 days | |
Consumer [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Impaired Financing Receivable, Recorded Investment | $ 380 | $ 386 |
Impaired Financing Receivable Recorded Investment, Percentage of Receivable | 0.50% | 0.50% |
Non-consumer [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Impaired Financing Receivable, Recorded Investment | $ 108 | $ 138 |
Impaired Financing Receivable Recorded Investment, Percentage of Receivable | 0.30% | 0.40% |
Financial Services Allowance 59
Financial Services Allowance for Credit Losses (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Allowance for credit losses [Roll Forward] | |||
Beginning balance | $ 597 | $ 484 | |
Charge-offs | (133) | (125) | |
Recoveries | 40 | 34 | |
Provision for credit losses | 94 | 121 | |
Other | 2 | 3 | |
Ending balance | 600 | 517 | |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Collective impairment allowance | 578 | 496 | |
Specific impairment allowance | 22 | 21 | |
Collectively evaluated for impairment | 111,913 | 99,267 | |
Specifically evaluated for impairment | 488 | 549 | |
Financing Receivable, Gross | 112,401 | 99,816 | $ 108,989 |
Ford Credit finance receivables, net | 111,801 | 99,299 | 108,392 |
Financing And Loans And Leases Receivable Allowance | 671 | 584 | |
Consumer [Member] | |||
Allowance for credit losses [Roll Forward] | |||
Beginning balance | 582 | 469 | |
Charge-offs | (131) | (123) | |
Recoveries | 39 | 34 | |
Provision for credit losses | 92 | 121 | |
Other | 2 | 3 | |
Ending balance | 584 | 504 | |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Collective impairment allowance | 563 | 483 | |
Specific impairment allowance | 21 | 21 | |
Collectively evaluated for impairment | 75,846 | 65,950 | |
Specifically evaluated for impairment | 380 | 385 | |
Financing Receivable, Gross | 76,226 | 66,335 | 75,051 |
Ford Credit finance receivables, net | 75,642 | 65,831 | |
Non-consumer [Member] | |||
Allowance for credit losses [Roll Forward] | |||
Beginning balance | 15 | 15 | |
Charge-offs | (2) | (2) | |
Recoveries | 1 | 0 | |
Provision for credit losses | 2 | 0 | |
Other | 0 | 0 | |
Ending balance | 16 | 13 | |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Collective impairment allowance | 15 | 13 | |
Specific impairment allowance | 1 | 0 | |
Collectively evaluated for impairment | 36,067 | 33,317 | |
Specifically evaluated for impairment | 108 | 164 | |
Financing Receivable, Gross | 36,175 | 33,481 | $ 33,938 |
Ford Credit finance receivables, net | $ 36,159 | $ 33,468 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Inventory Disclosure [Abstract] | ||
Raw materials, work-in-process, and supplies | $ 4,710 | $ 4,397 |
Finished products | 7,661 | 6,779 |
Total inventories | $ 12,371 | $ 11,176 |
Goodwill (Details)
Goodwill (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | |
Goodwill [Line Items] | ||
Goodwill | $ 274 | $ 75 |
Autonomic and Transloc [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Acquired During Period | $ 199 |
Other Liabilities and Deferre62
Other Liabilities and Deferred Revenue (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Other Liabilities [Abstract] | ||
Dealer and Dealers' Customer Allowances and Claims | $ 12,496 | $ 10,902 |
Deferred Revenue, Current | 2,336 | 2,107 |
Deferred Compensation Liability, Current | 1,352 | 1,661 |
Interest Payable, Current | 924 | 1,057 |
Other Postretirement Defined Benefit Plan Liabilities Current | 347 | 348 |
Liability, Defined Benefit Pension Plan, Current | 232 | 229 |
Other Sundry Liabilities, Current | 3,728 | 3,393 |
Other Liabilities, Current | 21,415 | 19,697 |
Pension (a) | 9,980 | 9,932 |
OPEB (a) | 5,755 | 5,821 |
Dealer and dealers’ customer allowances and claims | 2,286 | 2,471 |
Deferred revenue | 3,895 | 3,829 |
Employee benefit plans | 1,156 | 1,139 |
Other | 1,773 | 1,519 |
Total non-current other liabilities and deferred revenue | 24,845 | 24,711 |
Net pension assets | $ 3,900 | $ 3,500 |
Retirement Benefits - Expense (
Retirement Benefits - Expense (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Worldwide OPEB | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | $ 14 | $ 12 |
Interest cost | 49 | 49 |
Expected return on assets | 0 | 0 |
Amortization of prior service costs/(credits) | (27) | (30) |
Net remeasurement (gain)/loss | 0 | 0 |
Separation programs/other | 0 | 0 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment | 0 | 0 |
Net periodic benefit cost/(income) | 36 | 31 |
Defined Benefit Plan, Estimated Future Employer Contributions To Funded Plans in Current Fiscal Year | 500 | |
Pension And Other Postretirement Expected Benefit Contributions Unfunded Plans | 350 | |
Pension and Other Postretirement Benefit Contributions and Expected Future Employer Contributions To Funded and Unfunded Plans | 850 | |
Payment for Pension and Other Postretirement Benefits | 90 | |
Pension and Other Postretirement Benefit Contributions Unfunded Plans | 90 | |
Foreign Plan [Member] | Pension Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 152 | 134 |
Interest cost | 176 | 159 |
Expected return on assets | (334) | (330) |
Amortization of prior service costs/(credits) | 6 | 9 |
Net remeasurement (gain)/loss | 0 | 0 |
Separation programs/other | 2 | 16 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment | 0 | 0 |
Net periodic benefit cost/(income) | 2 | (12) |
UNITED STATES | Pension Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 136 | 133 |
Interest cost | 367 | 381 |
Expected return on assets | (722) | (683) |
Amortization of prior service costs/(credits) | 36 | 36 |
Net remeasurement (gain)/loss | (26) | 0 |
Separation programs/other | 11 | 3 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment | (15) | 0 |
Net periodic benefit cost/(income) | $ (213) | $ (130) |
Debt - Debt Outstanding (Detail
Debt - Debt Outstanding (Details) - Operating Segments [Member] - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Automotive | ||
Debt Instrument [Line Items] | ||
Unamortized (discount)/premium, current | $ (24) | $ (23) |
Debt payable within one year | 3,751 | 3,356 |
Unamortized (discount)/premium, noncurrent | (269) | (290) |
Unamortized issuance costs, noncurrent | (75) | (76) |
Total long-term debt payable after one year | 12,071 | 12,575 |
Total debt | 15,822 | 15,931 |
Automotive | Corporate debt | ||
Debt Instrument [Line Items] | ||
Long-term payable within one year | 361 | 361 |
Long-term debt payable after one year | 9,033 | 9,033 |
Automotive | Notes Payable, Other Payables [Member] | ||
Debt Instrument [Line Items] | ||
Long-term payable within one year | 1,563 | 1,031 |
Long-term debt payable after one year | 1,469 | 1,848 |
Automotive | Notes Payable, Other Payables [Member] | Advanced Technology Vehicles Manufacturing Program [Member] | ||
Debt Instrument [Line Items] | ||
Long-term payable within one year | 591 | 591 |
Long-term debt payable after one year | 1,913 | 2,060 |
Automotive | Notes Payable, Other Payables [Member] | ||
Debt Instrument [Line Items] | ||
Short-term Debt | 1,260 | 1,396 |
Automotive | Fair Value, Measurements, Nonrecurring [Member] | Level 2 [Member] | ||
Debt Instrument [Line Items] | ||
Fair Value | 17,046 | 17,976 |
Automotive | Short-term Debt [Member] | Fair Value, Estimate Not Practicable, Carrying (Reported) Amount [Member] | ||
Debt Instrument [Line Items] | ||
Fair Value, Estimate Not Practicable, Debt Instrument | 1,000 | 1,100 |
Financial Services | ||
Debt Instrument [Line Items] | ||
Unamortized (discount)/premium, current | 0 | 1 |
Unamortized issuance costs, current | (18) | (16) |
Adjustment Fair Value Hedging Instruments Unsecured Debt, Current | (10) | 12 |
Debt payable within one year | 49,232 | 48,265 |
Unamortized (discount)/premium, noncurrent | 1 | (2) |
Unamortized issuance costs, noncurrent | (218) | (212) |
Fair value adjustments, noncurrent | (350) | (33) |
Total long-term debt payable after one year | 92,681 | 89,492 |
Total debt | 141,913 | 137,757 |
Financial Services | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt payable after one year | 56,504 | 55,687 |
Financial Services | Secured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term payable within one year | 18,461 | 17,817 |
Long-term debt payable after one year | 36,744 | 34,052 |
Financial Services | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term payable within one year | 14,195 | 13,298 |
Financial Services | Notes Payable, Other Payables [Member] | ||
Debt Instrument [Line Items] | ||
Short-term Debt | 16,604 | 17,153 |
Financial Services | Fair Value, Measurements, Nonrecurring [Member] | Level 2 [Member] | ||
Debt Instrument [Line Items] | ||
Fair Value | 142,891 | 139,605 |
Financial Services | Short-term Debt [Member] | Fair Value, Estimate Not Practicable, Carrying (Reported) Amount [Member] | ||
Debt Instrument [Line Items] | ||
Fair Value, Estimate Not Practicable, Debt Instrument | 15,500 | 16,400 |
Other Segments [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized (discount)/premium, noncurrent | (3) | (3) |
Unamortized issuance costs, noncurrent | (2) | (2) |
Total long-term debt payable after one year | 599 | 599 |
Total debt | 599 | 599 |
Other Segments [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt payable after one year | 604 | |
Other Segments [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt payable after one year | 604 | |
Other Segments [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 2 [Member] | ||
Debt Instrument [Line Items] | ||
Fair Value | $ 763 | $ 801 |
Income Effect of Derivative Fin
Income Effect of Derivative Financial Instruments (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Derivative [Line Items] | ||
Gain/(Loss) Recognized in Income | $ (204) | $ 83 |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Foreign currency exchange contracts [Member] | ||
Derivative [Line Items] | ||
Gain/(Loss) Reclassified from AOCI to Income | 17 | 118 |
Gain/(Loss) Recorded in OCI | 61 | (112) |
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 | 26 | 70 |
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments | (339) | (89) |
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | 329 | 85 |
Not Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | ||
Derivative [Line Items] | ||
Gain/(Loss) Recognized in Income | (116) | (208) |
Not Designated as Hedging Instrument [Member] | Cross-currency interest rate swap contracts [Member] | ||
Derivative [Line Items] | ||
Gain/(Loss) Recognized in Income | (58) | 58 |
Not Designated as Hedging Instrument [Member] | Interest rate contracts [Member] | ||
Derivative [Line Items] | ||
Gain/(Loss) Recognized in Income | (17) | 7 |
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | ||
Derivative [Line Items] | ||
Gain/(Loss) Recognized in Income | (46) | 42 |
Nonoperating Income (Expense) [Member] | Not Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | ||
Derivative [Line Items] | ||
Gain/(Loss) Recognized in Income | (12) | (29) |
Cost of Sales [Member] | Not Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | ||
Derivative [Line Items] | ||
Gain/(Loss) Recognized in Income | $ (104) | $ (179) |
Balance Sheet Effect of Derivat
Balance Sheet Effect of Derivative Financial Instruments (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Derivative [Line Items] | ||
Notional | $ 137,617 | $ 133,452 |
Derivative Asset, Current | 647 | 802 |
Derivative Asset, Noncurrent | 608 | 746 |
Derivative Asset | 1,255 | 1,548 |
Derivative Liability, Current | 578 | 568 |
Derivative Liability, Noncurrent | 634 | 344 |
Derivative Liability | 1,212 | 912 |
Held collateral | 22 | 15 |
Posted collateral | 55 | 38 |
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Notional | 19,355 | 19,595 |
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Fair Value Hedging [Member] | ||
Derivative [Line Items] | ||
Notional | 30,250 | 28,008 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Notional | 21,202 | 20,679 |
Not Designated as Hedging Instrument [Member] | Cross-currency interest rate swap contracts [Member] | ||
Derivative [Line Items] | ||
Notional | 5,712 | 4,006 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Notional | 60,453 | 60,504 |
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | ||
Derivative [Line Items] | ||
Notional | 645 | 660 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 1,255 | 1,548 |
Fair Value of Liabilities | 1,212 | 912 |
Counterparty Netting, Not Offset | 494 | 618 |
Counterparty Netting, Not Offset | 494 | 618 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 376 | 407 |
Fair Value of Liabilities | 232 | 306 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Fair Value Hedging [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 139 | 248 |
Fair Value of Liabilities | 516 | 135 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 150 | 172 |
Fair Value of Liabilities | 196 | 302 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Not Designated as Hedging Instrument [Member] | Cross-currency interest rate swap contracts [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 305 | 408 |
Fair Value of Liabilities | 60 | 28 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 282 | 276 |
Fair Value of Liabilities | 184 | 137 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 3 | 37 |
Fair Value of Liabilities | $ 24 | $ 4 |
Derivative Financial Instrume67
Derivative Financial Instruments and Hedging Activities Fair value hedging (Details) - Ford Credit [Member] - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Derivative [Line Items] | ||
Short-Term Debt Carrying Value Fair Value | $ 5,899 | $ 5,186 |
Short term Fair Value Adjustment on Debt | (10) | 12 |
Long term Debt Carrying Value Fair Value | 33,834 | 33,790 |
Long-Term Fair Value Adjustment on Debt | (350) | (33) |
Debt Carrying Value Fair Value | 39,733 | 38,976 |
Fair Value Adjustment on Debt | (360) | (21) |
Operating Segments [Member] | ||
Derivative [Line Items] | ||
Discontinued Hedging | $ (66) | $ (77) |
Accumulated Other Comprehensi68
Accumulated Other Comprehensive Income/(Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Abstract] | |||
Total AOCI ending balance at March 31 | $ (6,669) | $ (6,959) | |
Derivative instruments [Abstract] | |||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | 65 | ||
Parent Company [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Abstract] | |||
Total AOCI ending balance at March 31 | (6,669) | $ (6,929) | |
Foreign currency transaction [Abstract] | |||
Beginning balance | (4,277) | (4,593) | |
Gains/(Losses) on foreign currency translation | 244 | 189 | |
Less: Tax/(Tax benefit) | (50) | (54) | |
Net gains/(losses) on foreign currency translation | 294 | 243 | |
(Gains)/Losses reclassified from AOCI to income | 2 | 0 | |
Other comprehensive income/(loss), net of tax | 296 | 243 | |
Ending balance | (3,981) | (4,350) | |
Marketable securities [Abstract] | |||
Beginning balance | (48) | (14) | |
Gains/(Losses) on available for sale securities | (69) | 1 | |
Less: Tax/(Tax benefit) | (17) | 3 | |
Net gains/(losses) on available for sale securities | (52) | (2) | |
(Gains)/Losses reclassified from AOCI to net income | 6 | 1 | |
Less: Tax/(Tax benefit) | 1 | 0 | |
Net (gains)/losses reclassified from AOCI to net income | 5 | 1 | |
Other comprehensive income/(loss), net of tax | (47) | (1) | |
Ending balance | (95) | (15) | |
Derivative instruments [Abstract] | |||
Beginning balance | 18 | 283 | |
Gains/(Losses) on available for sale securities | 61 | (112) | |
Less: Tax/(Tax benefit) | 15 | (34) | |
Net gains/(losses) on available for sale securities | 46 | (78) | |
(Gains)/Losses reclassified from AOCI to net income | (17) | (118) | |
Less: Tax/(Tax benefit) | (4) | (29) | |
Net (gains)/losses reclassified from AOCI to net income | (13) | (89) | |
Other comprehensive income/(loss), net of tax | 33 | (167) | |
Ending balance | 51 | 116 | |
Pension and other postretirement benefits | |||
Beginning balance | (2,652) | (2,689) | |
Amortization of prior service costs/(credits) | 15 | 15 | |
Less: Tax/(Tax benefit) | 3 | 5 | |
Net prior service costs/(credits) reclassified from AOCI to net income | 12 | 10 | |
Translation impact on non-U.S. plans | (4) | (1) | |
Other comprehensive income/(loss), net of tax | 8 | 9 | |
Ending balance | $ (2,644) | $ (2,680) |
Commitments and Contingencies69
Commitments and Contingencies (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Guarantor Obligations [Line Items] | |||
Maximum potential payments | $ 1,558 | $ 1,397 | |
Carrying value of recorded liabilities related to guarantee | 447 | $ 408 | |
Loss Contingency [Abstract] | |||
Loss contingency estimate | 700 | ||
Warranty [Abstract] | |||
Beginning balance | 5,296 | $ 4,960 | |
Payments made during the period | (963) | (840) | |
Changes in accrual related to warranties issued during the period | 629 | 608 | |
Changes in accrual related to pre-existing warranties | 185 | 475 | |
Foreign currency translation and other | 9 | 34 | |
Ending balance | 5,156 | $ 5,237 | |
Guarantees to daily rental companies | |||
Guarantor Obligations [Line Items] | |||
Maximum potential payments | 1,400 | ||
Carrying value of recorded liabilities related to guarantee | $ 435 |
Segment Information (Details)
Segment Information (Details) $ in Millions | 3 Months Ended | ||
Mar. 31, 2018USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2017USD ($) | |
Segment Information [Line Items] | |||
Number of Operating Segments | 3 | ||
Revenues | $ 41,959 | $ 39,146 | |
Income/(loss) before income taxes | 1,919 | 2,251 | |
Equity in net income/(loss) of affiliated companies | 224 | 346 | |
Cash, cash equivalents, and marketable securities | 40,071 | 39,989 | |
Total assets | 267,230 | 244,658 | $ 258,496 |
Automotive capital spending | 1,779 | 1,706 | |
Settlement of derivatives | 61 | (156) | |
Special Items [Member] | |||
Segment Information [Line Items] | |||
Income/(loss) before income taxes | $ (86) | (72) | |
Operating Segments [Member] | Automotive | |||
Segment Information [Line Items] | |||
Number of Regional Business Units | 5 | ||
Revenues | $ 39,012 | 36,475 | |
Income/(loss) before income taxes | 1,732 | 2,175 | |
Equity in net income/(loss) of affiliated companies | 218 | 340 | |
Cash, cash equivalents, and marketable securities | 27,582 | 28,028 | |
Total assets | 107,091 | 101,656 | |
Operating Segments [Member] | Mobility Segment [Member] | |||
Segment Information [Line Items] | |||
Revenues | 4 | 2 | |
Income/(loss) before income taxes | (102) | (64) | |
Equity in net income/(loss) of affiliated companies | (1) | ||
Cash, cash equivalents, and marketable securities | 15 | 6 | |
Total assets | 452 | 76 | |
Operating Segments [Member] | Ford Credit [Member] | |||
Segment Information [Line Items] | |||
Revenues | 2,943 | 2,669 | |
Income/(loss) before income taxes | 641 | 481 | |
Equity in net income/(loss) of affiliated companies | 6 | 7 | |
Cash, cash equivalents, and marketable securities | 12,474 | 11,955 | |
Total assets | 164,582 | 149,900 | |
Interest on Debt [Domain] | Adjustments [Member] | |||
Segment Information [Line Items] | |||
Revenues | 0 | 0 | |
Income/(loss) before income taxes | (289) | (293) | |
Equity in net income/(loss) of affiliated companies | 0 | 0 | |
Cash, cash equivalents, and marketable securities | 0 | 0 | |
Total assets | 0 | 0 | |
Special items [Member] | Adjustments [Member] | |||
Segment Information [Line Items] | |||
Income/(loss) before income taxes | 23 | 24 | |
Adjustments [Member] | Adjustments [Member] | |||
Segment Information [Line Items] | |||
Total assets | $ (4,895) | $ (6,974) |