DOCUMENT AND ENTITY INFORMATION
DOCUMENT AND ENTITY INFORMATION Document - shares | 9 Months Ended | |
Sep. 30, 2022 | Oct. 21, 2022 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 1-3950 | |
Entity Registrant Name | Ford Motor Co | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 38-0549190 | |
Document Fiscal Period Focus | Q3 | |
Entity Address, Address Line One | One American Road | |
Entity Address, City or Town | Dearborn, | |
Entity Address, State or Province | MI | |
Entity Address, Postal Zip Code | 48126 | |
City Area Code | 313 | |
Local Phone Number | 322-3000 | |
Title of 12(b) Security | Common Stock, par value $.01 per share | |
Trading Symbol | F | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2022 | |
Entity Central Index Key | 0000037996 | |
Current Fiscal Year End Date | --12-31 | |
Entity Small Business | false | |
Common Stock | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 3,949,642,023 | |
Class B Stock | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 70,852,076 | |
FPRB | ||
Document Information [Line Items] | ||
Title of 12(b) Security | 6.200% Notes due June 1, 2059 | |
Trading Symbol | FPRB | |
Security Exchange Name | NYSE | |
FPRC | ||
Document Information [Line Items] | ||
Title of 12(b) Security | 6.000% Notes due December 1, 2059 | |
Trading Symbol | FPRC | |
Security Exchange Name | NYSE | |
FPRD | ||
Document Information [Line Items] | ||
Title of 12(b) Security | 6.500% Notes due August 15, 2062 | |
Trading Symbol | FPRD | |
Security Exchange Name | NYSE |
CONSOLIDATED STATEMENT OF CASH
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract] | ||
Net income/(loss) | $ (3,411) | $ 5,637 |
Depreciation and tooling amortization | 5,669 | 5,478 |
Other amortization | (876) | (1,034) |
(Gains)/Losses on extinguishment of debt (Note 4 and Note 15) | 121 | 8 |
Held for sale impairment charges | 32 | 0 |
Provision for/(Benefit from) credit losses and insurance losses | (70) | (250) |
Pension and other post-retirement employee benefits (“OPEB”) expense/(income) (Note 14) | (595) | (1,115) |
Equity method investment dividends received in excess of (earnings)/losses and impairments (Note 10) | 2,975 | 95 |
Foreign currency adjustments | (71) | 348 |
Net realized and unrealized (gains)/losses on cash equivalents, marketable securities, and other investments | 7,365 | (899) |
Net (gain)/loss on changes in investments in affiliates (Note 4) | 137 | (354) |
Stock compensation | 277 | 262 |
Provision for/(Benefit from) deferred income taxes | (1,557) | 652 |
Decrease/(Increase) in finance receivables (wholesale and other) | (6,601) | 8,508 |
Decrease/(Increase) in accounts receivable and other assets | (2,370) | (1,329) |
Decrease/(Increase) in inventory | (4,160) | (3,129) |
Increase/(Decrease) in accounts payable and accrued and other liabilities | 8,453 | (511) |
Other | 357 | (111) |
Net cash provided by/(used in) operating activities | 5,675 | 12,256 |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations [Abstract] | ||
Capital spending | (4,801) | (4,455) |
Acquisitions of finance receivables and operating leases | (32,988) | (34,693) |
Collections of finance receivables and operating leases | 35,676 | 39,440 |
Proceeds from sale of business (Note 18) | 435 | 145 |
Purchases of marketable securities and other investments | (14,115) | (23,243) |
Sales and maturities of marketable securities and other investments | 16,208 | 28,439 |
Settlements of derivatives | 233 | (244) |
Other | (23) | (381) |
Net cash provided by/(used in) investing activities | 625 | 5,008 |
Net Cash Provided by (Used in) Financing Activities, Continuing Operations [Abstract] | ||
Cash payments for dividends and dividend equivalents | (1,410) | (3) |
Purchases of common stock | 0 | 0 |
Net changes in short-term debt | 1,650 | 1,568 |
Proceeds from issuance of long-term debt | 32,855 | 19,300 |
Payments of long-term debt | (37,395) | (36,122) |
Other | (244) | (163) |
Net cash provided by/(used in) financing activities | (4,544) | (15,420) |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect [Abstract] | ||
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (772) | (155) |
Net increase/(decrease) in cash, cash equivalents, and restricted cash | 984 | 1,689 |
Cash, cash equivalents, and restricted cash at beginning of period (Note 7) | 20,737 | 25,935 |
Cash, cash equivalents, and restricted cash at end of period (Note 7) | $ 21,721 | $ 27,624 |
CONSOLIDATED INCOME STATEMENT
CONSOLIDATED INCOME STATEMENT - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Revenues | ||||
Total revenues | $ 39,392 | $ 35,683 | $ 114,058 | $ 98,663 |
Costs and expenses | ||||
Cost of sales | 34,354 | 30,057 | 96,581 | 82,258 |
Selling, administrative, and other expenses | 2,847 | 2,947 | 8,346 | 8,667 |
Total costs and expenses | 38,888 | 34,341 | 109,343 | 94,879 |
Operating income/(loss) | 504 | 1,342 | 4,715 | 3,784 |
Interest expense on Company debt excluding Ford Credit | 321 | 439 | 941 | 1,365 |
Other income/(loss), net | 1,318 | 852 | (5,355) | 3,883 |
Equity in net income/(loss) of affiliated companies (Note 10) | (2,626) | 130 | (2,601) | 260 |
Income/(Loss) before income taxes | (1,125) | 1,885 | (4,182) | 6,562 |
Provision for/(Benefit from) income taxes | (195) | 63 | (771) | 925 |
Net income/(loss) | (930) | 1,822 | (3,411) | 5,637 |
Less: Income/(Loss) attributable to noncontrolling interests | (103) | (10) | (141) | (18) |
Net income/(loss) attributable to Ford Motor Company | $ (827) | $ 1,832 | $ (3,270) | $ 5,655 |
Basic income | ||||
Basic income (in dollars per share) | $ (0.21) | $ 0.46 | $ (0.81) | $ 1.42 |
Diluted income | ||||
Diluted income (in dollars per share) | $ (0.21) | $ 0.45 | $ (0.81) | $ 1.40 |
Weighted Average Number of Shares Outstanding, Basic | 4,021 | 3,995 | 4,017 | 3,989 |
Weighted Average Number of Shares Outstanding, Diluted | 4,021 | 4,036 | 4,017 | 4,027 |
Automotive | ||||
Revenues | ||||
Total revenues | $ 37,194 | $ 33,211 | $ 107,214 | $ 90,893 |
Ford Credit | ||||
Revenues | ||||
Total revenues | 2,187 | 2,434 | 6,724 | 7,700 |
Costs and expenses | ||||
Ford Credit interest, operating, and other expenses | 1,687 | 1,337 | 4,416 | 3,954 |
Mobility | ||||
Revenues | ||||
Total revenues | $ 11 | $ 38 | $ 120 | $ 70 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income/(loss) | $ (930) | $ 1,822 | $ (3,411) | $ 5,637 |
Foreign currency translation | (949) | (302) | (1,821) | (23) |
Marketable Securities | (148) | (23) | (484) | (98) |
Derivative Instruments | 367 | 343 | 417 | 154 |
Pension and other postretirement benefits | 13 | 5 | 33 | 18 |
Total other comprehensive income/(loss), net of tax | (717) | 23 | (1,855) | 51 |
Comprehensive income/(loss) | (1,647) | 1,845 | (5,266) | 5,688 |
Less: Comprehensive income/(loss) attributable to noncontrolling interests | (100) | (10) | (142) | (16) |
Comprehensive income attributable to Ford Motor Company | $ (1,547) | $ 1,855 | $ (5,124) | $ 5,704 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) shares in Millions, $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Current Assets | ||
Cash and cash equivalents | $ 21,548 | $ 20,540 |
Marketable securities | 18,625 | 29,053 |
Financing Receivable, after Allowance for Credit Loss, Current | 33,902 | 32,543 |
Accounts Receivable, after Allowance for Credit Loss, Current | 14,764 | 11,370 |
Inventories | 15,213 | 12,065 |
Disposal Group, Including Discontinued Operation, Assets, Current | 100 | 9 |
Other assets, current | 3,936 | 3,416 |
Total current assets | 108,088 | 108,996 |
Noncurrent Assets | ||
Financing Receivable, after Allowance for Credit Loss, Noncurrent | 47,683 | 51,256 |
Net Investment in Operating Leases, Noncurrent | 23,555 | 26,361 |
Net property | 35,529 | 37,139 |
Equity in net assets of affiliated companies (Note 10) | 2,556 | 4,545 |
Deferred Income Tax Assets, Net | 15,149 | 13,796 |
Other assets, non-current | 14,359 | 14,942 |
Total assets | 246,919 | 257,035 |
Current Liabilities | ||
Payables | 27,051 | 22,349 |
Other liabilities and deferred revenue (Note 13 and Note 21) | 19,066 | 18,686 |
Total current liabilities | 90,167 | 90,727 |
Noncurrent Liabilities | ||
Other liabilities and deferred revenue (Note 13 and Note 21) | 28,591 | 27,705 |
Deferred Tax Liabilities, Other | 1,793 | 1,581 |
Total liabilities | 204,830 | 208,413 |
EQUITY | ||
Capital in excess of par value of stock | 22,768 | 22,611 |
Retained earnings | 31,072 | 35,769 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | (10,193) | (8,339) |
Treasury stock | (1,564) | (1,563) |
Total equity attributable to Ford Motor Company | 42,125 | 48,519 |
Equity attributable to noncontrolling interests | (36) | 103 |
Total equity | 42,089 | 48,622 |
Total liabilities and equity | 246,919 | 257,035 |
Variable Interest Entity, Primary Beneficiary | ||
Current Assets | ||
Cash and cash equivalents | $ 2,116 | 3,407 |
Common Stock | ||
EQUITY | ||
Common Stock, Par or Stated Value Per Share | $ 0.01 | |
Common Stock, Shares, Issued | 4,067 | |
Common Stock, Shares Authorized | 6,000 | |
Common and Class B Stock | $ 41 | 40 |
Class B Stock | ||
EQUITY | ||
Common Stock, Par or Stated Value Per Share | $ 0.01 | |
Common Stock, Shares, Issued | 71 | |
Common Stock, Shares Authorized | 530 | |
Common and Class B Stock | $ 1 | 1 |
Ford Credit | ||
Current Assets | ||
Financing Receivable, after Allowance for Credit Loss, Current | 33,902 | 32,543 |
Noncurrent Assets | ||
Financing Receivable, after Allowance for Credit Loss, Noncurrent | 47,683 | 51,256 |
Operating Segments | Company excluding Ford Credit | ||
Current Assets | ||
Cash and cash equivalents | 15,197 | 9,577 |
Current Liabilities | ||
Debt payable within one year | 1,212 | 3,175 |
Noncurrent Liabilities | ||
Long-term debt | 19,073 | 17,200 |
Operating Segments | Ford Credit | ||
Current Assets | ||
Cash and cash equivalents | 6,351 | 10,963 |
Noncurrent Assets | ||
Total assets | 127,088 | |
Current Liabilities | ||
Debt payable within one year | 42,838 | 46,517 |
Noncurrent Liabilities | ||
Long-term debt | $ 65,206 | $ 71,200 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Cash and cash equivalents | $ 21,548 | $ 20,540 |
Financing Receivable, Allowance for Credit Loss, Current | 229 | 282 |
Accounts Receivable, Allowance for Credit Loss, Current | 98 | 48 |
Financing Receivable, Allowance for Credit Loss, Noncurrent | 531 | 643 |
Variable Interest Entity, Primary Beneficiary | ||
Cash and cash equivalents | 2,116 | 3,407 |
Total finance receivables, net | 42,657 | 43,001 |
Net Investment in Operating Lease | 11,016 | 7,540 |
Other assets | 272 | 39 |
Other liabilities and deferred revenue | 0 | 6 |
Debt | $ 38,121 | $ 38,274 |
CONSOLIDATED STATEMENTS OF EQUI
CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Millions | Total | Capital Stock | Cap. in Excess of Par Value of Stock | Retained Earnings | Accumulated Other Comprehensive Income/(Loss) (Note 19) | Treasury Stock | Total | Equity Attributable to Non-controlling Interests | ||||||||
Beginning balance at Dec. 31, 2020 | $ 30,811 | $ 41 | $ 22,290 | $ 18,243 | $ (8,294) | $ (1,590) | $ 30,690 | $ 121 | ||||||||
Increase (Decrease) in Stockholders' Equity | ||||||||||||||||
Net income/(loss) | 3,262 | 0 | 0 | 3,262 | 0 | 0 | 3,262 | 0 | ||||||||
Other comprehensive income/(loss), net | (76) | 0 | 0 | 0 | (76) | 0 | (76) | 0 | ||||||||
Common Stock issued (a) | (50) | [1] | 0 | (50) | 0 | 0 | 0 | (50) | [1] | 0 | ||||||
Treasury stock/other | 30 | 0 | 0 | 0 | 0 | 5 | 5 | 25 | ||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 0 | |||||||||||||||
Dividends and dividend equivalents declared | (3) | [2] | 0 | 0 | (3) | 0 | 0 | (3) | [2] | |||||||
Ending balance at Mar. 31, 2021 | 33,974 | 41 | 22,240 | 21,502 | (8,370) | (1,585) | 33,828 | 146 | ||||||||
Beginning balance at Dec. 31, 2020 | 30,811 | 41 | 22,290 | 18,243 | (8,294) | (1,590) | 30,690 | 121 | ||||||||
Increase (Decrease) in Stockholders' Equity | ||||||||||||||||
Net income/(loss) | 5,637 | |||||||||||||||
Other comprehensive income/(loss), net | 51 | |||||||||||||||
Ending balance at Sep. 30, 2021 | 36,704 | 41 | 22,477 | 23,894 | (8,245) | (1,574) | 36,593 | 111 | ||||||||
Beginning balance at Mar. 31, 2021 | 33,974 | 41 | 22,240 | 21,502 | (8,370) | (1,585) | 33,828 | 146 | ||||||||
Increase (Decrease) in Stockholders' Equity | ||||||||||||||||
Net income/(loss) | 553 | 0 | 0 | 561 | 0 | 0 | 561 | (8) | ||||||||
Other comprehensive income/(loss), net | 104 | 0 | 0 | 0 | 102 | 0 | 102 | 2 | ||||||||
Common Stock issued (a) | 168 | 0 | 168 | 0 | 0 | 0 | 168 | 0 | ||||||||
Treasury stock/other | (14) | 0 | 0 | 0 | 0 | 6 | 6 | (20) | ||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 0 | |||||||||||||||
Dividends and dividend equivalents declared | (1) | 0 | 0 | (1) | 0 | 0 | (1) | |||||||||
Ending balance at Jun. 30, 2021 | 34,784 | 41 | 22,408 | 22,062 | (8,268) | (1,579) | 34,664 | 120 | ||||||||
Increase (Decrease) in Stockholders' Equity | ||||||||||||||||
Net income/(loss) | 1,822 | 0 | 0 | 1,832 | 0 | 0 | 1,832 | (10) | ||||||||
Other comprehensive income/(loss), net | 23 | 0 | 0 | 0 | 23 | 0 | 23 | 0 | ||||||||
Common Stock issued (a) | 69 | 0 | 69 | 0 | 0 | 0 | 69 | 0 | ||||||||
Treasury stock/other | 6 | 0 | 0 | 0 | 0 | 5 | 5 | 1 | ||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 0 | |||||||||||||||
Dividends and dividend equivalents declared | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||
Ending balance at Sep. 30, 2021 | 36,704 | 41 | 22,477 | 23,894 | (8,245) | (1,574) | 36,593 | 111 | ||||||||
Beginning balance at Dec. 31, 2021 | 48,622 | 41 | 22,611 | 35,769 | (8,339) | (1,563) | 48,519 | 103 | ||||||||
Increase (Decrease) in Stockholders' Equity | ||||||||||||||||
Net income/(loss) | (3,119) | 0 | 0 | (3,110) | 0 | 0 | (3,110) | (9) | ||||||||
Other comprehensive income/(loss), net | 45 | 0 | 0 | 0 | 45 | 0 | 45 | 0 | ||||||||
Common Stock issued (a) | (60) | [1] | 1 | (61) | [1] | 0 | [1] | 0 | [1] | 0 | [1] | (60) | [1] | 0 | [1] | |
Treasury stock/other | $ 4 | 0 | 0 | 0 | 0 | (1) | (1) | 5 | ||||||||
Per share dividend of Common and Class B Stock | $ 0.10 | |||||||||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | [2] | 0 | ||||||||||||||
Dividends and dividend equivalents declared | [2] | $ (408) | 0 | 0 | (408) | 0 | 0 | (408) | ||||||||
Ending balance at Mar. 31, 2022 | 45,084 | 42 | 22,550 | 32,251 | (8,294) | (1,564) | 44,985 | 99 | ||||||||
Beginning balance at Dec. 31, 2021 | 48,622 | 41 | 22,611 | 35,769 | (8,339) | (1,563) | 48,519 | 103 | ||||||||
Increase (Decrease) in Stockholders' Equity | ||||||||||||||||
Net income/(loss) | (3,411) | |||||||||||||||
Other comprehensive income/(loss), net | (1,855) | |||||||||||||||
Ending balance at Sep. 30, 2022 | 42,089 | 42 | 22,768 | 31,072 | (10,193) | (1,564) | 42,125 | (36) | ||||||||
Beginning balance at Mar. 31, 2022 | 45,084 | 42 | 22,550 | 32,251 | (8,294) | (1,564) | 44,985 | 99 | ||||||||
Increase (Decrease) in Stockholders' Equity | ||||||||||||||||
Net income/(loss) | 638 | 0 | 0 | 667 | 0 | 0 | 667 | (29) | ||||||||
Other comprehensive income/(loss), net | (1,183) | 0 | 0 | 0 | (1,179) | 0 | (1,179) | (4) | ||||||||
Common Stock issued (a) | 103 | 0 | 103 | 0 | 0 | 0 | 103 | 0 | ||||||||
Treasury stock/other | $ 2 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | ||||||||
Per share dividend of Common and Class B Stock | $ 0.10 | |||||||||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 0 | |||||||||||||||
Dividends and dividend equivalents declared | $ (407) | 0 | 0 | (407) | 0 | 0 | (407) | |||||||||
Ending balance at Jun. 30, 2022 | 44,237 | 42 | 22,653 | 32,511 | (9,473) | (1,564) | 44,169 | 68 | ||||||||
Increase (Decrease) in Stockholders' Equity | ||||||||||||||||
Net income/(loss) | (930) | 0 | 0 | (827) | 0 | 0 | (827) | (103) | ||||||||
Other comprehensive income/(loss), net | (717) | 0 | 0 | 0 | (720) | 0 | (720) | 3 | ||||||||
Common Stock issued (a) | 115 | 0 | 115 | 0 | 0 | 0 | 115 | 0 | ||||||||
Treasury stock/other | $ (4) | 0 | 0 | 0 | 0 | 0 | 0 | (4) | ||||||||
Per share dividend of Common and Class B Stock | $ 0.15 | |||||||||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 0 | |||||||||||||||
Dividends and dividend equivalents declared | $ (612) | 0 | 0 | (612) | 0 | 0 | (612) | |||||||||
Ending balance at Sep. 30, 2022 | $ 42,089 | $ 42 | $ 22,768 | $ 31,072 | $ (10,193) | $ (1,564) | $ 42,125 | $ (36) | ||||||||
[1]Includes impact of share-based compensation.[2]Dividends and dividend equivalents declared for Common and Class B Stock. |
Presentation
Presentation | 9 Months Ended |
Sep. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
PRESENTATION | PRESENTATION For purposes of this report, “Ford,” the “Company,” “we,” “our,” “us,” or similar references mean Ford Motor Company, our consolidated subsidiaries, and our consolidated VIEs of which we are the primary beneficiary, unless the context requires otherwise. We also make reference to Ford Motor Credit Company LLC, herein referenced to as Ford Credit. Our consolidated financial statements are presented in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information, instructions to the Quarterly Report on Form 10-Q, and Rule 10-01 of Regulation S-X. We reclassified certain prior year amounts in our consolidated financial statements to conform to the current year presentation. 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, 2021 (“2021 Form 10-K Report”). |
New Accounting Standards (Notes
New Accounting Standards (Notes) | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Standards Update and Change in Accounting Principle [Abstract] | |
NEW ACCOUNTING STANDARDS | NEW ACCOUNTING STANDARDS Adoption of New Accounting Standards Accounting Standards Update (“ASU”) 2021-10, Government Assistance: Disclosures by Business Entities about Government Assistance. In November 2021, the Financial Accounting Standards Board (“FASB”) issued an accounting standards update requiring entities to provide certain disclosures in annual period financial statements for those transactions with governments that are accounted for by applying a grant or contribution accounting model via analogy to other applicable accounting standards. We are assessing the effect on our annual consolidated financial statement disclosures; however, adoption will not impact our consolidated balance sheets or income statements. We also adopted the following ASUs during 2022, none of which had a material impact to our consolidated financial statements or financial statement disclosures: ASU Effective Date 2021-04 Issuer’s Accounting for Certain Modifications or Exchanges of Warrants January 1, 2022 2021-05 Lessors - Certain Leases with Variable Lease Payments January 1, 2022 2021-08 Business Combinations: Accounting for Contract Assets and Contract Liabilities from Contracts with Customers January 1, 2022 Accounting Standards Issued But Not Yet Adopted ASU 2022-02, Financial Instruments – Credit Losses, Troubled Debt Restructurings and Vintage Disclosures. In March 2022, the FASB issued a new accounting standard that eliminates the troubled debt recognition and measurement guidance. The new standard requires that an entity apply the loan refinancing and restructuring guidance in ASC 310 to all loan modifications and/or receivable modifications. It also enhances disclosure requirements for certain refinancings and restructurings by creditors when a borrower is experiencing financial difficulty and requires disclosure of current-period gross charge-offs by year of origination in the vintage disclosure. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. The adoption of the new standard is not expected to have a material impact on our consolidated financial statements or financial statement disclosures. All other ASUs issued but not yet adopted were assessed and determined to be either not applicable or are not expected to have a material impact on our consolidated financial statements or financial statement disclosures. |
Revenue (Notes)
Revenue (Notes) | 9 Months Ended |
Sep. 30, 2022 | |
Revenue from Contract with Customer [Abstract] | |
REVENUE | REVENUE The following tables disaggregate our revenue by major source for the periods ended September 30 (in millions): Third Quarter 2021 Company excluding Ford Credit Ford Credit Consolidated Vehicles, parts, and accessories $ 32,072 $ — $ 32,072 Used vehicles 450 — 450 Services and other revenue (a) 659 58 717 Revenues from sales and services 33,181 58 33,239 Leasing income 68 1,285 1,353 Financing income — 1,080 1,080 Insurance income — 11 11 Total revenues $ 33,249 $ 2,434 $ 35,683 Third Quarter 2022 Company excluding Ford Credit Consolidated Vehicles, parts, and accessories $ 36,111 $ — $ 36,111 Used vehicles 378 — 378 Services and other revenue (a) 664 13 677 Revenues from sales and services 37,153 13 37,166 Leasing income 52 1,123 1,175 Financing income — 1,037 1,037 Insurance income — 14 14 Total revenues $ 37,205 $ 2,187 $ 39,392 First Nine Months 2021 Company excluding Ford Credit Consolidated Vehicles, parts, and accessories $ 86,870 $ — $ 86,870 Used vehicles 1,947 — 1,947 Services and other revenue (a) 1,923 122 2,045 Revenues from sales and services 90,740 122 90,862 Leasing income 223 4,032 4,255 Financing income — 3,497 3,497 Insurance income — 49 49 Total revenues $ 90,963 $ 7,700 $ 98,663 First Nine Months 2022 Company excluding Ford Credit Consolidated Vehicles, parts, and accessories $ 103,933 $ — $ 103,933 Used vehicles 1,180 — 1,180 Services and other revenue (a) 2,063 84 2,147 Revenues from sales and services 107,176 84 107,260 Leasing income 158 3,500 3,658 Financing income — 3,103 3,103 Insurance income — 37 37 Total revenues $ 107,334 $ 6,724 $ 114,058 __________ (a) Includes extended service contract revenue. NOTE 3. REVENUE (Continued) The amount of consideration we receive and revenue we recognize on our vehicles, parts, and accessories varies with changes in return rights and marketing incentives we offer to our customers and their customers. Estimates of marketing incentives are based on expected retail and fleet sales volumes, mix of products to be sold, and incentive programs to be offered. Customer acceptance of products and programs, as well as other market conditions, will impact these estimates. As a result of changes in our estimate of marketing incentives, we recorded an increase of $110 million in the third quarter of 2021 and a decrease of $37 million in the third quarter of 2022 related to revenue recognized in prior periods. We had a balance of $4.3 billion of unearned revenue associated primarily with outstanding extended service contracts reported in Other liabilities and deferred revenue at December 31, 2021 and September 30, 2022 . We expect to recognize approximately $400 million of the unearned amount in the remainder of 2022, $1.3 billion in 2023, and $2.6 billion thereafter. We recognized $333 million and $343 million of unearned amounts as revenue during the third quarter of 2021 and 2022, respectively, and $1.0 billion and $1.1 billion in the first nine months of 2021 and 2022, respectively. Amounts paid to dealers to obtain extended service contracts are deferred and recorded as Other assets . We had a balance of $309 million and $308 million in deferred costs as of December 31, 2021 and September 30, 2022, respectively. We recognized $21 million and $22 million of amortization during the third quarter of 2021 and 2022, respectively, and $60 million and $66 million in the first nine months of 2021 and 2022, respectively. |
Other Income_(Loss) (Notes)
Other Income/(Loss) (Notes) | 9 Months Ended |
Sep. 30, 2022 | |
Other Income and Expenses [Abstract] | |
OTHER INCOME/(LOSS) | OTHER INCOME/(LOSS) The amounts included in Other income/(loss), net for the periods ended September 30 were as follows (in millions): Third Quarter First Nine Months 2021 2022 2021 2022 Net periodic pension and OPEB income/(cost), excluding service cost (Note 14) $ 590 $ 431 $ 1,970 $ 1,320 Investment-related interest income 60 181 196 331 Interest income/(expense) on income taxes 3 1 — 8 Realized and unrealized gains/(losses) on cash equivalents, marketable securities, and other investments (a) (7) 609 899 (7,365) Gains/(Losses) on changes in investments in affiliates (Note 17 and Note 18) 22 9 354 (137) Gains/(Losses) on extinguishment of debt (Note 15) (4) (135) (8) (121) Royalty income 162 118 461 373 Other 26 104 11 236 Total $ 852 $ 1,318 $ 3,883 $ (5,355) __________ (a) Includes a $646 million gain and a $7.3 billion loss on our Rivian investment in the third quarter and first nine months of 2022, respectively. |
Income Taxes (Notes)
Income Taxes (Notes) | 9 Months Ended |
Sep. 30, 2022 | |
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. |
Capital Stock and Earnings Per
Capital Stock and Earnings Per Share (Notes) | 9 Months Ended |
Sep. 30, 2022 | |
Earnings Per Share [Abstract] | |
CAPITAL STOCK AND EARNINGS PER SHARE | CAPITAL STOCK AND EARNINGS/(LOSS) PER SHARE Earnings/(Loss) Per Share Attributable to Ford Motor Company Common and Class B Stock Basic and diluted earnings/(loss) per share were calculated using the following (in millions): Third Quarter First Nine Months 2021 2022 2021 2022 Net income/(loss) attributable to Ford Motor Company $ 1,832 $ (827) $ 5,655 $ (3,270) Basic and Diluted Shares Basic shares (average shares outstanding) 3,995 4,021 3,989 4,017 Net dilutive options, unvested restricted stock units, unvested restricted stock shares, and convertible debt (a) 41 — 38 — Diluted shares 4,036 4,021 4,027 4,017 __________ (a) In the third quarter and first nine months of 2022, there were 38 million and 42 million shares, respectively, excluded from the calculation of diluted earnings/(loss) per share, due to their anti-dilutive effect. |
Cash, Cash Equivalents, and Mar
Cash, Cash Equivalents, and Marketable Securities (Notes) | 9 Months Ended |
Sep. 30, 2022 | |
Cash, Cash Equivalents, and Marketable Securities [Abstract] | |
Cash, Cash Equivalents, and Marketable Securities [Text Block] | CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES The fair values of cash, cash equivalents, and marketable securities measured at fair value on a recurring basis were as follows (in millions): December 31, 2021 Fair Value Level Company excluding Ford Credit Ford Credit Consolidated Cash and cash equivalents U.S. government 1 $ 2,877 $ 711 $ 3,588 U.S. government agencies 2 355 240 595 Non-U.S. government and agencies 2 55 152 207 Corporate debt 2 105 940 1,045 Total marketable securities classified as cash equivalents 3,392 2,043 5,435 Cash, time deposits, and money market funds 6,185 8,920 15,105 Total cash and cash equivalents $ 9,577 $ 10,963 $ 20,540 Marketable securities U.S. government 1 $ 4,018 $ 864 $ 4,882 U.S. government agencies 2 2,270 75 2,345 Non-U.S. government and agencies 2 3,373 697 4,070 Corporate debt 2 6,299 304 6,603 Equities (a) 1 10,673 — 10,673 Other marketable securities 2 247 233 480 Total marketable securities $ 26,880 $ 2,173 $ 29,053 Restricted cash $ 69 $ 128 $ 197 September 30, 2022 Fair Value Level Company excluding Ford Credit Ford Credit Consolidated Cash and cash equivalents U.S. government 1 $ 3,067 $ 30 $ 3,097 U.S. government agencies 2 1,336 — 1,336 Non-U.S. government and agencies 2 1,401 369 1,770 Other cash equivalents 2 8 — 8 Corporate debt 2 773 663 1,436 Total marketable securities classified as cash equivalents 6,585 1,062 7,647 Cash, time deposits, and money market funds 8,612 5,289 13,901 Total cash and cash equivalents $ 15,197 $ 6,351 $ 21,548 Marketable securities U.S. government 1 $ 4,332 $ 305 $ 4,637 U.S. government agencies 2 2,426 245 2,671 Non-U.S. government and agencies 2 2,613 866 3,479 Corporate debt 2 6,265 265 6,530 Equities (a) 1 878 — 878 Other marketable securities 2 266 164 430 Total marketable securities $ 16,780 $ 1,845 $ 18,625 Restricted cash $ 71 $ 102 $ 173 __________ (a) Includes $10.6 billion and $817 million of Rivian common shares valued at $103.69 and $32.91 per share as of December 31, 2021 and September 30, 2022, respectively. In the third quarter of 2022, we sold 51.9 million of our Rivian common shares for about $1.8 billion in total proceeds. Net unrealized gains/losses recognized during full year 2021 and the first nine months of 2022 on all equity securities held at December 31, 2021 and September 30, 2022 were an $8.3 billion gain and a $1.8 billion loss, respectively. NOTE 7. CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES (Continued) The cash equivalents and marketable securities accounted for as available-for-sale (“AFS”) securities were as follows (in millions): December 31, 2021 Fair Value of Securities with Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Within 1 Year After 1 Year through After 5 Years Company excluding Ford Credit U.S. government $ 3,821 $ 12 $ (14) $ 3,819 $ 1,360 $ 2,435 $ 24 U.S. government agencies 2,249 2 (21) 2,230 316 1,802 112 Non-U.S. government and agencies 2,599 6 (21) 2,584 854 1,708 22 Corporate debt 6,373 21 (23) 6,371 2,645 3,726 — Other marketable securities 228 1 (1) 228 — 150 78 Total $ 15,270 $ 42 $ (80) $ 15,232 $ 5,175 $ 9,821 $ 236 September 30, 2022 Fair Value of Securities with Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Within 1 Year After 1 Year through After 5 Years Company excluding Ford Credit U.S. government $ 4,200 $ — $ (152) $ 4,048 $ 868 $ 3,159 $ 21 U.S. government agencies 2,455 — (131) 2,324 982 1,274 68 Non-U.S. government and agencies 2,315 — (140) 2,175 325 1,838 12 Corporate debt 7,240 — (239) 7,001 3,290 3,701 10 Other marketable securities 262 — (10) 252 — 180 72 Total $ 16,472 $ — $ (672) $ 15,800 $ 5,465 $ 10,152 $ 183 Sales proceeds and gross realized gains/losses from the sale of AFS securities for the periods ended September 30 were as follows (in millions): Third Quarter First Nine Months 2021 2022 2021 2022 Company excluding Ford Credit Sales proceeds $ 914 $ 692 $ 4,453 $ 5,814 Gross realized gains 4 — 21 7 Gross realized losses 1 5 3 20 NOTE 7. CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES (Continued) The present fair values and gross unrealized losses for cash equivalents and marketable securities accounted for as AFS securities that were in an unrealized loss position, aggregated by investment category and the length of time that individual securities have been in a continuous loss position, were as follows (in millions): December 31, 2021 Less than 1 Year 1 Year or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Company excluding Ford Credit U.S. government $ 2,598 $ (14) $ — $ — $ 2,598 $ (14) U.S. government agencies 1,809 (19) 73 (2) 1,882 (21) Non-U.S. government and agencies 1,614 (20) 38 (1) 1,652 (21) Corporate debt 3,637 (21) 71 (2) 3,708 (23) Other marketable securities 178 (1) 15 — 193 (1) Total $ 9,836 $ (75) $ 197 $ (5) $ 10,033 $ (80) September 30, 2022 Less than 1 Year 1 Year or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Company excluding Ford Credit U.S. government $ 3,205 $ (110) $ 750 $ (42) $ 3,955 $ (152) U.S. government agencies 1,185 (35) 1,081 (96) 2,266 (131) Non-U.S. government and agencies 1,099 (41) 1,010 (99) 2,109 (140) Corporate debt 6,016 (178) 662 (61) 6,678 (239) Other marketable securities 216 (9) 36 (1) 252 (10) Total $ 11,721 $ (373) $ 3,539 $ (299) $ 15,260 $ (672) We determine credit losses on AFS debt securities using the specific identification method. During the first nine months of 2022, we did not recognize any credit loss. The unrealized losses on securities are due to changes in interest rates and market liquidity. Cash, Cash Equivalents, and Restricted Cash Cash, cash equivalents, and restricted cash, as reported in the consolidated statements of cash flows, were as follows (in millions): December 31, September 30, Cash and cash equivalents $ 20,540 $ 21,548 Restricted cash (a) 197 173 Total cash, cash equivalents, and restricted cash $ 20,737 $ 21,721 __________ (a) Included in Other assets in the non-current assets section of our consolidated balance sheets. |
Ford Credit Finance Receivables
Ford Credit Finance Receivables and Allowance for Credit Losses (Notes) | 9 Months Ended |
Sep. 30, 2022 | |
Receivables [Abstract] | |
FORD CREDIT FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES | FORD CREDIT FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES Ford Credit manages finance receivables as “consumer” and “non-consumer” portfolios. The receivables are generally secured by the vehicles, inventory, or other property being financed. Finance receivables are recorded at the time of origination or purchase at fair value and are subsequently reported at amortized cost, net of any allowance for credit losses. For all finance receivables, Ford Credit defines “past due” as any payment, including principal and interest, that is at least 31 days past the contractual due date. Ford Credit finance receivables, net were as follows (in millions): December 31, September 30, Consumer Retail installment contracts, gross $ 69,148 $ 64,529 Finance leases, gross 7,318 6,196 Retail financing, gross 76,466 70,725 Unearned interest supplements (3,020) (2,311) Consumer finance receivables 73,446 68,414 Non-Consumer Dealer financing 11,278 13,931 Non-Consumer finance receivables 11,278 13,931 Total recorded investment $ 84,724 $ 82,345 Recorded investment in finance receivables $ 84,724 $ 82,345 Allowance for credit losses (925) (760) Total finance receivables, net $ 83,799 $ 81,585 Current portion $ 32,543 $ 33,902 Non-current portion 51,256 47,683 Total finance receivables, net $ 83,799 $ 81,585 Net finance receivables subject to fair value (a) $ 76,796 $ 75,674 Fair value (b) 77,648 73,216 __________ (a) Net finance receivables subject to fair value exclude finance leases. (b) The fair value of finance receivables is categorized within Level 3 of the fair value hierarchy. Ford Credit’s finance leases are comprised of sales-type and direct financing leases. Financing revenue from finance leases for the third quarter of 2021 and 2022 was $86 million and $73 million, respectively, and for the first nine months of 2021 and 2022 was $264 million and $223 million, respectively, and is included in Ford Credit revenues on our consolidated income statements. At December 31, 2021 and September 30, 2022, accrued interest was $125 million and $132 million, respectively, which we report in Other assets in the current assets section of our consolidated balance sheets. Included in the recorded investment in finance receivables at December 31, 2021 and September 30, 2022, were consumer receivables of $39 billion and $40.7 billion, respectively, and non-consumer receivables of $12 billion and $14.3 billion, respectively, (including Automotive receivables sold to Ford Credit, which we report in Trade and other receivables) 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 AND ALLOWANCE FOR CREDIT LOSSES (Continued) Credit Quality Consumer Portfolio. Credit quality ratings for consumer receivables are based on Ford Credit’s aging analysis. Consumer receivables credit quality ratings are as follows: • Pass – current to 60 days past due; • Special Mention – 61 to 120 days past due and in intensified collection status; and • Substandard – greater than 120 days past due and for which the uncollectible portion of the receivables has already been charged off, as measured using the fair value of collateral less costs to sell. The credit quality analysis of consumer receivables at December 31, 2021 was as follows (in millions): Amortized Cost Basis by Origination Year Prior to 2017 2017 2018 2019 2020 2021 Total Percent Consumer 31 - 60 days past due $ 39 $ 52 $ 98 $ 120 $ 186 $ 91 $ 586 0.8 % 61 - 120 days past due 7 10 20 29 40 21 127 0.2 Greater than 120 days past due 10 6 6 9 11 1 43 — Total past due 56 68 124 158 237 113 756 1.0 Current 812 2,607 6,559 12,689 22,701 27,322 72,690 99.0 Total $ 868 $ 2,675 $ 6,683 $ 12,847 $ 22,938 $ 27,435 $ 73,446 100.0 % The credit quality analysis of consumer receivables at September 30, 2022 was as follows (in millions): Amortized Cost Basis by Origination Year Prior to 2018 2018 2019 2020 2021 2022 Total Percent Consumer 31 - 60 days past due $ 46 $ 60 $ 85 $ 165 $ 120 $ 63 $ 539 0.8 % 61 - 120 days past due 9 12 19 34 30 14 118 0.2 Greater than 120 days past due 10 5 6 7 7 2 37 — Total past due 65 77 110 206 157 79 694 1.0 Current 1,273 3,320 7,282 15,402 19,954 20,489 67,720 99.0 Total $ 1,338 $ 3,397 $ 7,392 $ 15,608 $ 20,111 $ 20,568 $ 68,414 100.0 % Non-Consumer Portfolio. The credit quality of dealer financing receivables is evaluated based on Ford Credit’s internal dealer risk rating analysis. Ford Credit uses a proprietary model to assign each dealer a risk rating. This model uses historical dealer performance data to identify key factors about a dealer that are considered most significant in predicting a dealer’s ability to meet its financial obligations. Ford Credit also considers numerous other financial and qualitative factors of the dealer’s operations, including capitalization and leverage, liquidity and cash flow, profitability, and credit history with Ford Credit and other creditors. Dealers are assigned to one of four groups according to risk ratings as follows: • Group I – strong to superior financial metrics; • Group II – fair to favorable financial metrics; • Group III – marginal to weak financial metrics; and • Group IV – poor financial metrics, including dealers classified as uncollectible. NOTE 8. FORD CREDIT FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Continued) The credit quality analysis of dealer financing receivables at December 31, 2021 was as follows (in millions): Amortized Cost Basis by Origination Year Wholesale Loans Dealer Loans Prior to 2017 2017 2018 2019 2020 2021 Total Total Percent Group I $ 391 $ 68 $ 151 $ 45 $ 109 $ 345 $ 1,109 $ 6,751 $ 7,860 69.7 % Group II 11 7 26 2 4 54 104 2,689 2,793 24.8 Group III 8 — 1 — 1 20 30 529 559 4.9 Group IV — — 4 — — 6 10 56 66 0.6 Total (a) $ 410 $ 75 $ 182 $ 47 $ 114 $ 425 $ 1,253 $ 10,025 $ 11,278 100.0 % __________ (a) Total past due dealer financing receivables at December 31, 2021 were $62 million. The credit quality analysis of dealer financing receivables at September 30, 2022 was as follows (in millions): Amortized Cost Basis by Origination Year Wholesale Loans Dealer Loans Prior to 2018 2018 2019 2020 2021 2022 Total Total Percent Group I $ 418 $ 153 $ 37 $ 65 $ 196 $ 209 $ 1,078 $ 9,892 $ 10,970 78.7 % Group II 2 22 1 5 — 39 69 2,596 2,665 19.1 Group III — — — — — 10 10 250 260 1.9 Group IV — — 1 — — 3 4 32 36 0.3 Total (a) $ 420 $ 175 $ 39 $ 70 $ 196 $ 261 $ 1,161 $ 12,770 $ 13,931 100.0 % __________ (a) Total past due dealer financing receivables at September 30, 2022 were $5 million. Non-Accrual of Revenue. The accrual of financing revenue is discontinued at the time a receivable is determined to be uncollectible or when it is 90 days past due. Accounts may be restored to accrual status only when a customer settles all past-due deficiency balances and future payments are reasonably assured. For receivables in non-accrual status, subsequent financing revenue is recognized only to the extent a payment is received. Payments are generally applied first to outstanding interest and then to the unpaid principal balance. Troubled Debt Restructuring (“TDR”). A restructuring of debt constitutes a TDR if Ford Credit grants a concession to a debtor for economic or legal reasons related to the debtor’s financial difficulties that Ford Credit otherwise would not consider. Consumer and non-consumer receivables that have a modified interest rate below market rate or that were modified in reorganization proceedings pursuant to the U.S. Bankruptcy Code, except non-consumer receivables that are current with minimal risk of loss, are considered to be TDRs. Ford Credit does not grant concessions on the principal balance of the receivables. If a receivable is modified in a reorganization proceeding, all payment requirements of the reorganization plan need to be met before remaining balances are forgiven. Allowance for Credit Losses The allowance for credit losses represents an estimate of the lifetime expected credit losses inherent in finance receivables as of the balance sheet date. The adequacy of the allowance for credit losses is assessed quarterly. Adjustments to the allowance for credit losses are made by recording charges to Ford Credit interest, operating, and other expenses on our consolidated income statements. The uncollectible portion of a finance receivable is charged to the allowance for credit losses at the earlier of when an account is deemed to be uncollectible or when an account is 120 days delinquent, taking into consideration the financial condition of the customer or borrower, the value of the collateral, recourse to guarantors, and other factors . NOTE 8. FORD CREDIT FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Continued) Charge-offs on finance receivables include uncollected amounts related to principal, interest, late fees, and other allowable charges. Recoveries on finance receivables previously charged off as uncollectible are credited to the allowance for credit losses. In the event Ford Credit repossesses the collateral, the receivable is charged off and the collateral is recorded at its estimated fair value less costs to sell and reported in Other assets on our consolidated balance sheets. An analysis of the allowance for credit losses related to finance receivables for the periods ended September 30 was as follows (in millions): Third Quarter 2021 First Nine Months 2021 Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 1,022 $ 39 $ 1,061 $ 1,245 $ 60 $ 1,305 Charge-offs (58) (2) (60) (210) (5) (215) Recoveries 50 1 51 158 6 164 Provision for/(Benefit from) credit losses (58) (1) (59) (242) (23) (265) Other (a) (9) — (9) (4) (1) (5) Ending balance $ 947 $ 37 $ 984 $ 947 $ 37 $ 984 Third Quarter 2022 First Nine Months 2022 Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 754 $ 9 $ 763 $ 903 $ 22 $ 925 Charge-offs (73) — (73) (196) (1) (197) Recoveries 39 1 40 126 3 129 Provision for/(Benefit from) credit losses 40 (1) 39 (67) (14) (81) Other (a) (9) — (9) (15) (1) (16) Ending balance $ 751 $ 9 $ 760 $ 751 $ 9 $ 760 __________ (a) Primarily represents amounts related to translation adjustments. During the third quarter and first nine months of 2022, the allowance for credit losses decreased $3 million and $165 million, respectively, primarily due to Ford Credit’s current expectation that COVID-related losses have been avoided. Although net charge-offs remained low in the third quarter and first nine months of 2022 due, in part, to high vehicle auction values, the impact of rising inflation, high energy prices, and higher interest rates on future credit losses remains uncertain. Ford Credit will continue to monitor economic trends and conditions and portfolio performance and will adjust the reserve accordingly. |
Inventories (Notes)
Inventories (Notes) | 9 Months Ended |
Sep. 30, 2022 | |
Inventory Disclosure [Abstract] | |
INVENTORIES | INVENTORIES Inventories were as follows (in millions): December 31, September 30, Raw materials, work-in-process, and supplies $ 5,785 $ 6,292 Finished products 6,280 8,921 Total inventories $ 12,065 $ 15,213 |
Investments, Equity Method and
Investments, Equity Method and Joint Ventures | 9 Months Ended |
Sep. 30, 2022 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investments and Joint Ventures Disclosure | NOTE 10. IMPAIRMENT OF EQUITY IN NET ASSETS OF AFFILIATED COMPANIES In 2017, we began investing in Argo AI, an artificial intelligence company that became a consolidated subsidiary, with a commitment to fund $1 billion over five years to develop autonomous vehicle technology. In 2020, we completed a transaction with Volkswagen AG (“VW”) that resulted in Ford and VW holding equal interests in Argo AI, which together comprised a majority ownership of the entity. As a result of this transaction, which included $500 million of proceeds from the sale to VW of a portion of our interest in Argo AI, we deconsolidated Argo AI, remeasured our retained investment in the entity at fair value, and, net of our carrying value in Argo’s net assets, recognized a $3.5 billion pre-tax gain in Other income/(loss), net . Immediately following this transaction, our retained investment consisted of a $2.4 billion equity method investment and a $400 million preferred equity security investment, which were reflected on our consolidated balance sheets in Equity in net assets of affiliated companies and Other assets , respectively. Although Argo AI has made progress on developing highly automated driving technology (L4), to achieve commercially viable scale, Argo AI’s technology requires significant additional capital investment and time. In the near term, we see more potential for partial or conditional automated driving technology (L2/L3) to be transformative for customers and our business. Therefore, in the third quarter of 2022, we made the strategic decision to shift our capital spending from L4 technology being developed by Argo AI to advanced L2/L3 systems, which we believe will ultimately be essential to achieve profitable commercialization of L4 autonomy at scale in the future. Additionally, because of the significant additional capital and time required to achieve commercialization of L4, as well as other macroeconomic factors, Argo AI has been unable to attract new investors. After performing external outreach in the third quarter to assess market interest in acquiring either Argo AI or its technology components and conducting internal reviews to evaluate opportunities to leverage Argo AI’s technology, Ford determined that Argo AI no longer has value as a going concern. As a result, we reassessed the carrying value of our investment in Argo AI as of September 30, 2022, and in October, Ford and VW initiated the process of exiting the joint development of L4 technology through Argo AI. Our valuation assumes an orderly conclusion of operations at Argo AI, in which the cash required to satisfy the remaining obligations would consume most of Argo AI’s remaining capital. In addition, we assessed whether Argo AI’s technology components have value in isolation, and we concluded that the cost to integrate into currently anticipated technology ecosystems would be prohibitive. Accordingly, we recorded a $2.7 billion pre-tax impairment in the third quarter of 2022, reducing the carrying value of our investment to $64 million, which primarily represents our share of Argo AI’s cash less its obligations. The non-cash charge was reported in Equity in net income/(loss) of affiliated companies , and our remaining investment is in Equity in net assets of affiliated companies . The carrying value of our investment in Argo AI immediately prior to the impairment was higher than our net cash investment of approximately $500 million (i.e., our $1 billion investment less proceeds we received from VW) due to the non-cash gain recognized when we deconsolidated Argo AI in 2020 as described above. |
Other Investments (Notes)
Other Investments (Notes) | 9 Months Ended |
Sep. 30, 2022 | |
Other Investments [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure | OTHER INVESTMENTS We have investments in entities not accounted for under the equity method for which fair values are not readily available. We record these investments at cost (less impairment, if any), adjusted for observable price changes in orderly transactions for the identical or a similar investment of the same issuer. We report the carrying value of these investments in Other assets |
Goodwill (Notes)
Goodwill (Notes) | 9 Months Ended |
Sep. 30, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill Disclosure [Text Block] | GOODWILL The net carrying amount of goodwill was $619 million and $575 million at December 31, 2021 and September 30, 2022, respectively, and is reported in Other assets |
Other Liabilities and Deferred
Other Liabilities and Deferred Revenue (Notes) | 9 Months Ended |
Sep. 30, 2022 | |
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, September 30, Current Dealer and dealers’ customer allowances and claims $ 8,300 $ 7,806 Deferred revenue 2,349 2,312 Employee benefit plans 1,687 1,736 Accrued interest 888 795 OPEB (a) 332 327 Pension (a) 202 196 Operating lease liabilities 345 380 Other (b) 4,583 5,514 Total current other liabilities and deferred revenue $ 18,686 $ 19,066 Non-current Pension (a) $ 8,658 $ 7,441 OPEB (a) 5,708 5,455 Dealer and dealers’ customer allowances and claims 4,909 5,466 Deferred revenue 4,683 4,830 Operating lease liabilities 1,048 1,056 Employee benefit plans 1,007 962 Other (b) 1,692 3,381 Total non-current other liabilities and deferred revenue $ 27,705 $ 28,591 __________ (a) Balances at September 30, 2022 reflect pension and OPEB liabilities at December 31, 2021, updated for: service and interest cost; expected return on assets; curtailments, settlements, and associated interim remeasurement (where applicable); separation expense; actual benefit payments; and cash contributions. The discount rate and rate of expected return assumptions are unchanged from year-end 2021. Included in Other assets are pension assets of $8.5 billion and $8.8 billion at December 31, 2021 and September 30, 2022, respectively. (b) Includes current derivative liabilities non-current derivative liabilities |
Retirement Benefits (Notes)
Retirement Benefits (Notes) | 9 Months Ended |
Sep. 30, 2022 | |
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 September 30 were as follows (in millions): Third Quarter Pension Benefits U.S. Plans Non-U.S. Plans Worldwide OPEB 2021 2022 2021 2022 2021 2022 Service cost $ 131 $ 125 $ 140 $ 101 $ 12 $ 10 Interest cost 232 263 107 123 31 36 Expected return on assets (681) (642) (283) (245) — — Amortization of prior service costs/(credits) 1 — 5 6 (3) (1) Net remeasurement (gain)/loss (40) 7 — — — — Separation programs/other 10 9 23 11 1 1 Settlements and curtailments 7 1 — — — — Net periodic benefit cost/(income) $ (340) $ (237) $ (8) $ (4) $ 41 $ 46 First Nine Months Pension Benefits U.S. Plans Non-U.S. Plans Worldwide OPEB 2021 2022 2021 2022 2021 2022 Service cost $ 396 $ 375 $ 423 $ 319 $ 36 $ 31 Interest cost 694 790 315 390 95 110 Expected return on assets (2,047) (1,927) (852) (772) — — Amortization of prior service costs/(credits) 2 1 17 18 (9) (2) Net remeasurement (gain)/loss 201 7 (565) 16 — — Separation programs/other 15 20 107 28 1 — Settlements and curtailments 56 1 — — — — Net periodic benefit cost/(income) $ (683) $ (733) $ (555) $ (1) $ 123 $ 139 The service cost component is included in Cost of sales and Selling, administrative, and other expenses . Other components of net periodic benefit cost/(income) are included in Other income/(loss), net on our consolidated income statements. In the third quarter of 2021 and 2022, within separation programs/other, we recognized expenses of $22 million and $11 million, respectively, in non-U.S. pension plans related to ongoing redesign programs. In the first nine months of 2021 and 2022, within separation programs/other, we recognized $106 million and $27 million, respectively, in non-U.S. pension plans related to ongoing redesign programs. Until our Global Redesign programs are completed, we anticipate further adjustments to our plans in subsequent periods. Pension Plan Contributions |
Debt (Notes)
Debt (Notes) | 9 Months Ended |
Sep. 30, 2022 | |
Debt Disclosure [Abstract] | |
DEBT | DEBT The carrying value of Company debt excluding Ford Credit and Ford Credit debt was as follows (in millions): December 31, September 30, Company excluding Ford Credit Debt payable within one year Short-term $ 286 $ 783 Long-term payable within one year Public unsecured debt securities 86 — U.S. Department of Energy Advanced Technology Vehicles Manufacturing Incentive Program 953 — Delayed draw term loan 1,500 — Other debt 348 431 Unamortized (discount)/premium 2 (2) Total debt payable within one year 3,175 1,212 Long-term debt payable after one year Public unsecured debt securities (a) 13,643 14,936 Convertible notes (b) 2,300 2,300 U.K. Export Finance Program (c) 843 1,518 Other debt 768 695 Unamortized (discount)/premium (188) (182) Unamortized issuance costs (166) (194) Total long-term debt payable after one year 17,200 19,073 Total Company excluding Ford Credit $ 20,375 $ 20,285 Fair value of Company debt excluding Ford Credit (d) $ 24,044 $ 18,390 Ford Credit Debt payable within one year Short-term $ 14,810 $ 14,696 Long-term payable within one year Unsecured debt 13,660 8,146 Asset-backed debt 18,049 19,997 Unamortized (discount)/premium 1 — Unamortized issuance costs (13) (12) Fair value adjustments (e) 10 11 Total debt payable within one year 46,517 42,838 Long-term debt payable after one year Unsecured debt 44,337 39,006 Asset-backed debt 26,654 28,137 Unamortized (discount)/premium 28 24 Unamortized issuance costs (199) (185) Fair value adjustments (e) 380 (1,776) Total long-term debt payable after one year 71,200 65,206 Total Ford Credit $ 117,717 $ 108,044 Fair value of Ford Credit debt (d) $ 120,204 $ 105,177 __________ (a) Public unsecured debt securities increased in the third quarter due to green bond and retail bond issuance, which together totaled $2.4 billion, partially offset by a $1.1 billion bond redemption. (b) As of September 30, 2022, each $1,000 principal amount of the notes will be convertible into 58.7365 shares of our Common Stock, which is equivalent to a conversion price of approximately $17.03 per share. We recognized issuance cost amortization of $2 million and $4 million during the third quarter and first nine months of 2021, respectively, and $2 million and $5 million during the third quarter and first nine months of 2022, respectively. (c) We entered into a £750 million 5-year term loan pursuant to the U.K. Export Finance Program in June 2022. (d) At December 31, 2021 and September 30, 2022, the fair value of debt includes $209 million and $717 million of Company excluding Ford Credit short-term debt and $14.1 billion and $13.9 billion of Ford Credit short-term debt, respectively, carried at cost, which approximates fair value. All other debt is categorized within Level 2 of the fair value hierarchy. (e) These adjustments are related to hedging activity and include discontinued hedging relationship adjustments of $257 million and $112 million at December 31, 2021 and September 30, 2022, respectively. The carrying value of hedged debt was $37.5 billion and $31.2 billion at December 31, 2021 and September 30, 2022, respectively. NOTE 15. DEBT (Continued) 2022 Debt Extinguishment Pursuant to Ford Credit’s June 2022 cash tender offer, Ford Credit repurchased approximately $3 billion principal amount of its public unsecured debt securities for an aggregate cost of approximately $3 billion (including transaction costs and accrued and unpaid interest payments for such tendered securities). As a result of these transactions, Ford Credit recorded a pre-tax gain of $16.6 million (net of unamortized discounts, premiums, fees, and fair value adjustments) in Other income/(loss), net in the second quarter of 2022. In September 2022, Ford redeemed approximately $1.1 billion principal amount of its public unsecured debt securities for an aggregate cost of approximately $1.2 billion (including redemption costs and accrued and unpaid interest payments for such redeemed securities). As a result of this transaction, Ford recorded a pre-tax loss of $135 million (net of unamortized discounts, premiums, and fees) in Other income/(loss), net in the third quarter of 2022. 2022 Environmental, Social, Governance (“ESG”) Bond In August 2022, Ford issued approximately $1.8 billion aggregate principal amount of green bonds with an interest rate of 6.1% under its sustainable financing framework. Ford is allocating the net proceeds from this issuance to the design, development, and manufacturing of its battery electric vehicles. |
Derivative Financial Instrument
Derivative Financial Instruments and Hedging Activities (Notes) | 9 Months Ended |
Sep. 30, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES | DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES In the normal course of business, our operations are exposed to global market risks, including the effect of changes in foreign currency exchange rates, certain commodity prices, and interest rates. To manage these risks, we enter into highly effective derivative contracts. We have elected to apply hedge accounting to certain derivatives. Derivatives that are designated in hedging relationships are evaluated for effectiveness using regression analysis at the time they are designated and throughout the hedge period. Some derivatives do not qualify for hedge accounting; for others, we elect not to apply hedge accounting. Income Effect of Derivative Financial Instruments The gains/(losses), by hedge designation, reported in income for the periods ended September 30 were as follows (in millions): Third Quarter First Nine Months Cash flow hedges 2021 2022 2021 2022 Reclassified from AOCI to Cost of sales Foreign currency exchange contracts (a) $ (161) $ (44) $ (349) $ (224) Commodity contracts (b) 50 9 78 151 Fair value hedges Interest rate contracts Net interest settlements and accruals on hedging instruments 98 (39) 299 62 Fair value changes on hedging instruments (142) (600) (680) (1,922) Fair value changes on hedged debt 135 615 638 1,991 Cross-currency interest rate swap contracts Net interest settlements and accruals on hedging instruments (2) (8) (6) (17) Fair value changes on hedging instruments (28) (66) (67) (164) Fair value changes on hedged debt 25 67 58 173 Derivatives not designated as hedging instruments Foreign currency exchange contracts (c) 123 44 209 125 Cross-currency interest rate swap contracts (194) (494) (390) (1,164) Interest rate contracts — 130 (25) 342 Commodity contracts 25 (41) 153 (72) Total $ (71) $ (427) $ (82) $ (719) __________ (a) For the third quarter and first nine months of 2021, a $225 million gain and a $346 million loss, respectively, were reported in Other comprehensive income/(loss), net of tax . For the third quarter and first nine months of 2022, a $535 million gain and a $641 million gain, respectively, were reported in Other comprehensive income/(loss), net of tax. (b) For the third quarter and first nine months of 2021, a $114 million gain and a $294 million gain, respectively, were reported in Other comprehensive income/(loss), net of tax . For the third quarter and first nine months of 2022, a $90 million loss and a $166 million loss, respectively, were reported in Other comprehensive income/(loss), net of tax . (c) For the third quarter and first nine months of 2021, a $44 million gain and a $122 million gain, respectively, were reported in Cost of sales , and a $79 million gain and an $87 million gain, respectively, were reported in Other income/(loss), net . For the third quarter and first nine months of 2022, a $68 million loss and a $12 million loss, respectively, were reported in Cost of sales , and a $112 million gain and a $137 million gain, respectively, were reported in Other income/(loss) , net. NOTE 16. DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Continued) Balance Sheet Effect of Derivative Financial Instruments Derivative assets and liabilities are reported on our consolidated balance sheets at fair value and are presented on a gross basis. The notional amounts of the derivative instruments do not necessarily represent amounts exchanged by the parties and are not a direct measure of our financial exposure. We also enter into master agreements with counterparties that may allow for netting of exposures in the event of default or breach of the counterparty agreement. Collateral represents cash received or paid under reciprocal arrangements that we have entered into with our derivative counterparties, which we do not use to offset our derivative assets and liabilities. The fair value of our derivative instruments and the associated notional amounts were as follows (in millions): December 31, 2021 September 30, 2022 Notional Fair Value of Fair Value of Notional Fair Value of Fair Value of Cash flow hedges Foreign currency exchange contracts $ 11,534 $ 74 $ 346 $ 9,353 $ 539 $ 28 Commodity contracts 931 182 5 1,003 8 128 Fair value hedges Interest rate contracts 23,893 544 274 19,159 — 1,645 Cross-currency interest rate swap contracts 885 — 49 885 — 220 Derivatives not designated as hedging instruments Foreign currency exchange contracts 28,463 281 198 19,700 351 315 Cross-currency interest rate swap contracts 6,533 117 61 6,583 10 1,108 Interest rate contracts 50,060 338 126 50,195 946 572 Commodity contracts 997 54 11 892 2 134 Total derivative financial instruments, gross (a) (b) $ 123,296 $ 1,590 $ 1,070 $ 107,770 $ 1,856 $ 4,150 Current portion $ 924 $ 535 $ 1,235 $ 1,815 Non-current portion 666 535 621 2,335 Total derivative financial instruments, gross $ 1,590 $ 1,070 $ 1,856 $ 4,150 __________ (a) At December 31, 2021 and September 30, 2022, we held collateral of $26 million and $225 million, respectively, and we posted collateral of $71 million and $182 million, respectively. (b) At December 31, 2021 and September 30, 2022, the fair value of assets and liabilities available for counterparty netting was $719 million and $527 million, respectively . |
Employee Separation Actions and
Employee Separation Actions and Exit and Disposal Activities (Notes) | 9 Months Ended |
Sep. 30, 2022 | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Activities Disclosure [Text Block] | EMPLOYEE SEPARATION ACTIONS AND EXIT AND DISPOSAL ACTIVITIES We record costs associated with voluntary separations at the time of employee acceptance, unless the acceptance requires explicit approval by the Company. We record costs associated with involuntary separation programs when management has approved the plan for separation, the affected employees are identified, and it is unlikely that actions required to complete the separation plan will change significantly. Costs associated with benefits that are contingent on the employee continuing to provide service are accrued over the required service period. Company Excluding Ford Credit Employee separation actions and exit and disposal activities include employee separation costs, facility and other asset-related charges (e.g., impairment, accelerated depreciation), dealer and supplier payments, other statutory and contractual obligations, and other expenses, which are recorded in Cost of sales and Selling, administrative, and other expenses. Below are actions initiated, primarily related to the global redesign of our business: • Ford Motor Company Brasil Ltda. exited manufacturing operations in Brazil, which resulted in the closure of facilities in Camaçari, Taubaté, and Troller in 2021 • Ford Motor Company Limited ceased production at the Bridgend plant in the United Kingdom and the facility was closed in September 2020 • Ford India Private Limited (“Ford India”) ceased vehicle manufacturing in Sanand in fourth quarter 2021 and ceased manufacturing in Chennai in third quarter 2022. In the third quarter of 2022, Ford India entered into an agreement to sell the Sanand vehicle assembly and powertrain plants. See Note 18 • Ford Espana S.L. ceased production of the Mondeo at the Valencia plant in Spain in March 2022 In addition, we are continuing to reduce our global workforce and take other restructuring actions, including the separation of salaried workers in North America and India in third quarter 2022. The following table summarizes the activities for the periods ended September 30, which are recorded in Other liabilities and deferred revenue (in millions): Third Quarter First Nine Months 2021 2022 2021 2022 Beginning balance $ 839 $ 691 $ 1,732 $ 950 Changes in accruals (a) 506 329 875 445 Payments (294) (188) (1,551) (539) Foreign currency translation (51) (21) (56) (45) Ending balance $ 1,000 $ 811 $ 1,000 $ 811 __________ (a) Excludes pension costs of $22 million and $11 million in the third quarter of 2021 and 2022, respectively, and $106 million and $27 million in the first nine months of 2021 and 2022, respectively. We recorded $202 million and $35 million in the third quarter of 2021 and 2022, respectively, and $590 million and $101 million in the first nine months of 2021 and 2022, respectively, for accelerated depreciation, impairment of our India held-for-sale assets, and other non-cash items. In addition, we recognized a $38 million pre-tax net gain on sale of assets in the first nine months of 2022. We estimate that we will incur about $1 billion in total charges in 2022 related to the actions above, primarily attributable to employee separations and dealer and supplier settlements. We recorded $535 million in the first nine months of 2022 for such actions. We continue to review our global businesses and may take additional restructuring actions in markets where a path to sustained profitability is not feasible when considering the capital allocation required for those markets. NOTE 17. EMPLOYEE SEPARATION ACTIONS AND EXIT AND DISPOSAL ACTIVITIES (Continued) Ford Credit Accumulated foreign currency translation losses included in Accumulated other comprehensive income/(loss) at September 30, 2022 of $223 million are associated with Ford Credit’s investments in Brazil and Argentina that have ceased operations. We expect to reclassify these losses to income upon substantially complete liquidation of Ford Credit’s investments, which may occur over multiple reporting periods. In the first nine months of 2022, we reclassified losses of $155 million to Other income/(loss), net |
Acquisitions and Divestitures (
Acquisitions and Divestitures (Notes) | 9 Months Ended |
Sep. 30, 2022 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | ACQUISITIONS AND DIVESTITURES Company Excluding Ford Credit Ford Romania S.R.L. (“Ford Romania”). On July 1, 2022, we completed the sale of Ford Romania, our wholly-owned Romanian manufacturing subsidiary, to Ford Otosan, a joint venture in which Ford has a 41% ownership share. The transaction resulted in deconsolidation of our Ford Romania subsidiary in the third quarter of 2022. The fair value of consideration received, consisting of cash and a note receivable, approximated the carrying value of Ford Romania at the time of sale. The Ford Romania plant in Craiova, Romania will continue to manufacture Ford-branded vehicles for Ford and Ford Otosan. Ford’s portion of the output is expected to be significant; as a result, there were about $100 million of assets, such as embedded leases, and related liabilities that continue to be reported as part of our financial statements. Sanand, India (“Sanand”) Plants. In the third quarter of 2022, we entered into an agreement to sell our Sanand vehicle assembly and powertrain plants to Tata Passenger Electric Mobility Limited (“Tata”), a subsidiary of Tata Motors Limited. The sale transaction will include the land, buildings, and other fixed assets (excluding the powertrain machinery and equipment) for the plants. Accordingly, we have reported $89 million of fixed assets for this operation as held for sale for the period ended September 30, 2022. We recognized, in Cost of sales , pre-tax impairment charges of $32 million in the third quarter of 2022 to adjust the carrying value of the held-for-sale assets to fair value less costs to sell. We determined fair value using the market approach, estimated based on the negotiated value of the assets. After the sale to Tata, Ford will continue to operate the powertrain facility by leasing back the associated land and building. Skinny Labs Inc., dba Spin (“Spin”). On April 1, 2022, we completed the sale of Spin, our wholly-owned micro-mobility provider, to TIER Mobility SE, a German-based micro-mobility provider, which resulted in the deconsolidation of our Spin subsidiary in the second quarter of 2022. In exchange for our shares of Spin, we received preferred equity in TIER Mobility SE, which is reflected in our consolidated balance sheets in Other assets as of the second quarter of 2022. The fair value of the preferred equity approximated the carrying value of Spin at the time of the transaction. Electriphi, Inc. (“Electriphi”). On June 18, 2021, we acquired Electriphi, a California-based provider of charging management and fleet monitoring software for electric vehicles. Assets acquired primarily include goodwill, reported in Other assets , and software, reported in Net property . The acquisition did not have a material impact on our financial statements. Ford Lio Ho Motor Co., Ltd. (“FLH”). On April 1, 2021, we completed the sale of our controlling financial interest in FLH and its wholly owned subsidiary FLH Marketing & Service Limited, which resulted in deconsolidation of our Ford Taiwan subsidiary in the second quarter of 2021. FLH will continue to import, manufacture, and sell Ford-branded vehicles through at least 2025. We recognized a pre-tax gain of $161 million, which was reported in Other income/(loss), net in the second quarter of 2021. NOTE 18. ACQUISITIONS AND DIVESTITURES (Continued) Getrag Ford Transmissions GmbH (“GFT”). Prior to March 2021, Ford and Magna International Inc. (“Magna”) equally owned and operated the GFT joint venture for the purpose of developing, manufacturing, and selling transmissions. We accounted for our investment in GFT as an equity method investment. During the first quarter of 2021 and prior to our acquisition, GFT recorded restructuring charges, of which our share was $40 million. These charges are included in Equity in net income/(loss) of affiliated companies . On March 1, 2021, we acquired Magna’s shares in the restructured GFT. The purchase price, which was subject to post-closing revisions, was $275 million. The restructured GFT includes the Halewood, UK and Cologne, Germany transmission plants, but excludes the Bordeaux, France transmission plant and China interests acquired by Magna. We concluded with Magna that these businesses would be better served under separate ownership. The Sanand, India transmission plant continues under joint Ford/Magna ownership. As a result of the transaction, we consolidated the restructured GFT, remeasured our prior investment in GFT at its $275 million fair value, and recognized in Other income/(loss), ne |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income/(Loss) (Notes) | 9 Months Ended |
Sep. 30, 2022 | |
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 September 30 were as follows (in millions): Third Quarter First Nine Months 2021 2022 2021 2022 Foreign currency translation Beginning balance $ (5,249) $ (6,355) $ (5,526) $ (5,487) Gains/(Losses) on foreign currency translation (236) (996) 112 (2,063) Less: Tax/(Tax benefit) (a) 66 36 133 5 Net gains/(losses) on foreign currency translation (302) (1,032) (21) (2,068) (Gains)/Losses reclassified from AOCI to net income (b) — 80 (4) 248 Other comprehensive income/(loss), net of tax (c) (302) (952) (25) (1,820) Ending balance $ (5,551) $ (7,307) $ (5,551) $ (7,307) Marketable securities Beginning balance $ 81 $ (355) $ 156 $ (19) Gains/(Losses) on available for sale securities (26) (199) (112) (647) Less: Tax/(Tax benefit) (6) (47) (28) (153) Net gains/(losses) on available for sale securities (20) (152) (84) (494) (Gains)/Losses reclassified from AOCI to net income (3) 5 (18) 13 Less: Tax/(Tax benefit) — 1 (4) 3 Net (gains)/losses reclassified from AOCI to net income (3) 4 (14) 10 Other comprehensive income/(loss), net of tax (23) (148) (98) (484) Ending balance $ 58 $ (503) $ 58 $ (503) Derivative instruments Beginning balance $ (455) $ (143) $ (266) $ (193) Gains/(Losses) on derivative instruments 339 445 (52) 475 Less: Tax/(Tax benefit) 85 105 8 112 Net gains/(losses) on derivative instruments 254 340 (60) 363 (Gains)/Losses reclassified from AOCI to net income 111 35 271 73 Less: Tax/(Tax benefit) 22 8 57 19 Net (gains)/losses reclassified from AOCI to net income (d) 89 27 214 54 Other comprehensive income/(loss), net of tax 343 367 154 417 Ending balance $ (112) $ 224 $ (112) $ 224 Pension and other postretirement benefits Beginning balance $ (2,645) $ (2,620) $ (2,658) $ (2,640) Amortization and recognition of prior service costs/(credits) 4 5 24 17 Less: Tax/(Tax benefit) 4 1 8 4 Net prior service costs/(credits) reclassified from AOCI to net income — 4 16 13 Translation impact on non-U.S. plans 5 9 2 20 Other comprehensive income/(loss), net of tax 5 13 18 33 Ending balance $ (2,640) $ (2,607) $ (2,640) $ (2,607) Total AOCI ending balance at September 30 $ (8,245) $ (10,193) $ (8,245) $ (10,193) __________ (a) We do not recognize deferred taxes for a majority of the foreign currency translation gains and losses because we do not anticipate reversal in the foreseeable future. However, we have made elections to tax certain non-U.S. operations simultaneously in U.S. tax returns, and have recorded deferred taxes for temporary differences that will reverse, independent of repatriation plans, in U.S. tax returns. Taxes or tax benefits resulting from foreign currency translation of the temporary differences are recorded in Other comprehensive income/(loss), net of tax . (b) Reclassified to Other income/(loss), net. (c) Excludes a $3 million gain and a $1 million loss related to noncontrolling interests in the third quarter and first nine months of 2022, respectively. (d) Reclassified to Cost of sales . During the next twelve months, we expect to reclassify existing net gains on cash flow hedges of $225 million (see Note 16). |
Variable Interest Entities (Not
Variable Interest Entities (Notes) | 9 Months Ended |
Sep. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Variable Interest Entity Disclosure | VARIABLE INTEREST ENTITIES Certain of our affiliates are variable interest entities in which we are not the primary beneficiary. Our maximum exposure to any potential losses associated with these affiliates is limited to our investments and loans and was $2.8 billion and $510 million at December 31, 2021 and September 30, 2022, respectively. On July 13, 2022, Ford, SK On Co., Ltd., and SK Battery America, Inc. (a wholly owned subsidiary of SK On) completed the creation of BlueOval SK, LLC, a 50/50 joint venture that will build and operate electric vehicle battery plants in Tennessee and Kentucky to supply batteries to Ford and Ford affiliates. BlueOval SK is a variable interest entity of which we are not the primary beneficiary, and we use the equity method of accounting for our investment. As of September 30, 2022, Ford has contributed to BlueOval SK $312 million of its agreed capital contribution of up to $6.6 billion through 2026, subject to any adjustments agreed to by the parties. The decrease in maximum exposure from December 31, 2021 is primarily explained by Argo AI (see Note 10), partially offset by the investment in BlueOval SK. |
Commitments and Contingencies (
Commitments and Contingencies (Notes) | 9 Months Ended |
Sep. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES Commitments and contingencies primarily consist of guarantees and indemnifications, litigation and claims, and warranty and field service actions. Guarantees and Indemnifications Financial Guarantees. Financial guarantees and indemnifications are recorded at fair value at their inception. Subsequent to initial recognition, the guarantee liability is adjusted at each reporting period to reflect the current estimate of expected payments resulting from possible default events over the remaining life of the guarantee. The maximum potential payments for financial guarantees were $357 million and $395 million at December 31, 2021 and September 30, 2022, respectively. The carrying value of recorded liabilities related to financial guarantees was $36 million and $15 million at December 31, 2021 and September 30, 2022, respectively. Our financial guarantees consist of debt and lease obligations of certain joint ventures, as well as certain financial obligations of outside third parties, including suppliers, to support our business and economic growth. Expiration dates vary through 2033, and guarantees will terminate on payment and/or cancellation of the underlying obligation. A payment by us would be triggered by failure of the joint venture or other third party to fulfill its obligation covered by the guarantee. In some circumstances, we are entitled to recover from a third party amounts paid by us under the guarantee. Non-Financial Guarantees. Non-financial guarantees and indemnifications are recorded at fair value at their inception. We regularly review our performance risk under these arrangements, and in the event it becomes probable we will be required to perform under a guarantee or indemnity, the amount of probable payment is recorded. The maximum potential payments for non-financial guarantees were $453 million and $273 million at December 31, 2021 and September 30, 2022, respectively. The carrying value of recorded liabilities related to non-financial guarantees was $38 million and $0 at December 31, 2021 and September 30, 2022, respectively. Included in the $273 million of maximum potential payments at September 30, 2022 are guarantees for the resale value of vehicles sold in certain arrangements to daily rental companies. The maximum potential payment of $267 million as of September 30, 2022 represents the total proceeds we guarantee the rental company will receive on resale. Reflecting our present estimate of proceeds the rental companies will receive on resale from third parties, we do not expect we will have to pay under the guarantee. In the ordinary course of business, we execute contracts involving indemnifications standard in the industry and indemnifications specific to a transaction, such as the sale of a business. These indemnifications might include and are not limited to claims relating to any of the following: environmental, tax, and shareholder matters; intellectual property rights; power generation contracts; governmental regulations and employment-related matters; dealer, supplier, and other commercial contractual relationships; and financial matters, such as securitizations. Performance under these indemnities generally would be triggered by a breach of contract claim brought by a counterparty, including a joint venture or alliance partner, or a third-party claim. While some of these indemnifications are limited in nature, many of them do not limit potential payment. Therefore, we are unable to estimate a maximum amount of future payments that could result from claims made under these unlimited indemnities. NOTE 21. COMMITMENTS AND CONTINGENCIES (Continued) Litigation and Claims Various legal actions, proceedings, and claims (generally, “matters”) are pending or may be instituted or asserted against us. These include, but are not limited to, matters arising out of alleged defects in our products; product warranties; governmental regulations relating to safety, emissions, and fuel economy or other matters; government incentives; tax matters, including trade and customs; alleged illegal acts resulting in fines or penalties; financial services; employment-related matters; dealer, supplier, and other contractual relationships; intellectual property rights; environmental matters; shareholder or investor matters; and financial reporting matters. Certain of the pending legal actions are, or purport to be, class actions. Some of the matters involve or may involve claims for compensatory, punitive, or antitrust or other treble damages in very large amounts, or demands for field service actions, environmental remediation programs, sanctions, loss of government incentives, assessments, or other relief, which, if granted, would require very large expenditures. The extent of our financial exposure to these matters is difficult to estimate. Many matters do not specify a dollar amount for damages, and many others specify only a jurisdictional minimum. To the extent an amount is asserted, our historical experience suggests that in most instances the amount asserted is not a reliable indicator of the ultimate outcome. We accrue for matters when losses are deemed probable and reasonably estimable. In evaluating matters for accrual and disclosure purposes, we take into consideration factors such as our historical experience with matters of a similar nature, the specific facts and circumstances asserted, the likelihood that we will prevail, and the severity of any potential loss. We reevaluate and update our accruals as matters progress over time. For the majority of matters, which generally arise out of alleged defects in our products, we establish an accrual based on our extensive historical experience with similar matters. We do not believe there is a reasonably possible outcome materially in excess of our accrual for these matters. For the remaining matters, where our historical experience with similar matters is of more limited value (i.e., “non-pattern matters”), we evaluate the matters primarily based on the individual facts and circumstances. For non-pattern matters, we evaluate whether there is a reasonable possibility of a material loss in excess of any accrual that can be estimated. Our estimate of reasonably possible loss in excess of our accruals for all material matters currently reflects indirect tax, customs, and regulatory matters, for which we estimate the aggregate risk to be a range of up to a bout $2 billion. As noted, the litigation process is subject to many uncertainties, and the outcome of individual matters is not predictable with assurance. Our assessments are based on our knowledge and experience, but the ultimate outcome of any matter could require payment substantially in excess of the amount that we have accrued and/or disclosed. NOTE 21. COMMITMENTS AND CONTINGENCIES (Continued) Warranty and Field Service Actions We accrue the estimated cost of both base warranty coverages and field service actions at the time of sale. We establish our estimate of base warranty obligations using a patterned estimation model, using historical information regarding the nature, frequency, and average cost of claims for each vehicle line by model year. We establish our estimates of field service action obligations using a patterned estimation model, using historical information regarding the nature, frequency, severity, and average cost of claims for each model year. In addition, from time to time, we issue extended warranties at our expense, the estimated cost of which is accrued at the time of issuance. Warranty and field service action obligations are reported in Other liabilities and deferred revenue . We reevaluate the adequacy of our accruals on a regular basis. We recognize the benefit from a recovery of the costs associated with our warranty and field service actions when specifics of the recovery have been agreed with our supplier and the amount of recovery is virtually certain. Recoveries are reported in Trade and other receivables, net and Other assets. The estimate of our future warranty and field service action costs, net of estimated supplier recoveries, for the periods ended September 30 was as follows (in millions): First Nine Months 2021 2022 Beginning balance $ 8,172 $ 8,451 Payments made during the period (3,109) (3,063) Changes in accrual related to warranties issued during the period 2,819 2,806 Changes in accrual related to pre-existing warranties 44 449 Foreign currency translation and other (77) (241) Ending balance $ 7,849 $ 8,402 Changes to our estimated costs are reported as changes in accrual related to pre-existing warranties in the table above. Our estimate of reasonably possible costs in excess of our accruals for material field service actions and customer satisfaction actions is a range of up to about $700 million in the aggregate. |
Segment Information (Notes)
Segment Information (Notes) | 9 Months Ended |
Sep. 30, 2022 | |
Segment Reporting [Abstract] | |
SEGMENT INFORMATION | SEGMENT INFORMATION We report segment information consistent with the way our chief operating decision maker (“CODM”) evaluates the operating results and performance of the Company. Accordingly, we analyze the results of our business through the following segments: Automotive, Mobility, and Ford Credit. Effective with fourth quarter 2021 reporting, special items include gains and losses on investments in equity securities. Prior period amounts were adjusted retrospectively to reflect the change. Below is a description of our reportable segments and other activities. Automotive Segment The 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 and enterprise connectivity. The segment includes the following regional business units: North America, South America, Europe, China (including Taiwan), and the International Markets Group. Mobility Segment The Mobility segment primarily includes development costs for Ford’s autonomous vehicles and related businesses, Ford’s equity ownership in Argo AI (a developer of autonomous driving systems), and other mobility businesses and investments. For additional information about our investment in Argo AI, see Note 10. Ford Credit Segment The Ford Credit segment is comprised of the Ford Credit business on a consolidated basis, which is primarily vehicle-related financing and leasing activities. Corporate Other Corporate Other primarily includes corporate governance expenses, interest income (excluding interest earned on our extended service contract portfolio that is included in our Automotive segment) and gains and losses from our cash, cash equivalents, and marketable securities (excluding gains and losses on investments in equity securities), and foreign exchange derivatives gains and losses associated with intercompany lending. Corporate governance expenses are primarily administrative, delivering benefit on behalf of the global enterprise, that are not allocated to operating segments. These include expenses related to setting and directing global policy, providing oversight and stewardship, and promoting the Company’s interests. Corporate Other assets include: cash, cash equivalents, and marketable securities; tax related assets; other investments; and other assets managed centrally. Interest on Debt Interest on Debt is presented as a separate reconciling item and consists of interest expense on Company debt excluding Ford Credit. The underlying liability is reported in the Automotive segment and in Corporate Other. Special Items Special Items are presented as a separate reconciling item. They consist of (i) pension and OPEB remeasurement gains and losses, (ii) gains and losses on investments in equity securities, (iii) significant personnel expenses, dealer-related costs, and facility-related charges stemming from our efforts to match production capacity and cost structure to market demand and changing model mix, and (iv) other items that we do not necessarily consider to be indicative of earnings from ongoing operating activities. Our management ordinarily excludes these items from its review of the results of the operating segments for purposes of measuring segment profitability and allocating resources. We also report these special items separately to help investors track amounts related to these activities and to allow investors analyzing our results to identify certain infrequent significant items that they may wish to exclude when considering the trend of ongoing operating results. NOTE 22. SEGMENT INFORMATION (Continued) Key financial information for the periods ended or at September 30 was as follows (in millions): Automotive Mobility Ford Credit Corporate Interest Special Items Adjustments Total Third Quarter 2021 Revenues $ 33,211 $ 38 $ 2,434 $ — $ — $ — $ — $ 35,683 Income/(Loss) before income taxes 2,456 (271) 1,077 (269) (439) (669) (a) — 1,885 Equity in net income/(loss) of affiliated companies 185 (68) 9 — — 4 — 130 Total assets 68,291 3,471 135,385 46,695 — — (1,165) (b) 252,677 Third Quarter 2022 Revenues $ 37,194 $ 11 $ 2,187 $ — $ — $ — $ — $ 39,392 Income/(Loss) before income taxes 1,698 (244) 599 (250) (321) (2,607) (c) — (1,125) Equity in net income/(loss) of affiliated companies 185 (87) 8 — — (2,732) (e) — (2,626) Total assets 71,983 415 127,088 48,432 — — (999) (b) 246,919 Automotive Mobility Ford Credit Corporate Interest Special Items Adjustments Total First Nine Months 2021 Revenues $ 90,893 $ 70 $ 7,700 $ — $ — $ — $ — $ 98,663 Income/(loss) before income taxes 5,756 (688) 3,662 (772) (1,365) (31) (d) — 6,562 Equity in net income/(loss) of affiliated companies 434 (191) 23 1 — (7) — 260 First Nine Months 2022 Revenues $ 107,214 $ 120 $ 6,724 $ — $ — $ — $ — $ 114,058 Income/(loss) before income taxes 6,911 (707) 2,466 (819) (941) (11,092) (c) — (4,182) Equity in net income/(loss) of affiliated companies 481 (245) 18 1 — (2,856) (e) — (2,601) __________ (a) Primarily reflects Global Redesign actions, mark-to-market adjustments for our global pension and OPEB plans, and gains/(losses) on investments in equity securities. (b) Includes eliminations of intersegment transactions occurring in the ordinary course of business and deferred tax netting. (c) Primarily reflects gains/(losses) on our Rivian investment and the impairment of our Argo AI equity method investment. (d) Primarily reflects gains on our Rivian investment, Global Redesign actions, and mark-to-market adjustments for our global pension and OPEB plans. (e) Primarily reflects the impairment of our Argo AI equity method investment. |
Presentation Presentation (Poli
Presentation Presentation (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, 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. We also make reference to Ford Motor Credit Company LLC, herein referenced to as Ford Credit. Our consolidated financial statements are presented in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information, instructions to the Quarterly Report on Form 10-Q, and Rule 10-01 of Regulation S-X. We reclassified certain prior year amounts in our consolidated financial statements to conform to the current year presentation. |
Basis of Accounting, Policy [Policy Text Block] | Our consolidated financial statements are presented in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information, instructions to the Quarterly Report on Form 10-Q, and Rule 10-01 of Regulation S-X. We reclassified certain prior year amounts in our consolidated financial statements to conform to the current year presentation. |
Revenue Revenue (Policies)
Revenue Revenue (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Revenue [Policy Text Block] | The amount of consideration we receive and revenue we recognize on our vehicles, parts, and accessories varies with changes in return rights and marketing incentives we offer to our customers and their customers. Estimates of marketing incentives are based on expected retail and fleet sales volumes, mix of products to be sold, and incentive programs to be offered. Customer acceptance of products and programs, as well as other market conditions, will impact these estimates. |
Income Taxes (Policies)
Income Taxes (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
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. |
Ford Credit Finance Receivabl_2
Ford Credit Finance Receivables and Allowance for Credit Losses (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Financing Receivable, Allowance for Credit Loss [Line Items] | |
Financing Receivable, Allowance for Credit Losses, Policy for Uncollectible Amounts [Policy Text Block] | Allowance for Credit Losses The allowance for credit losses represents an estimate of the lifetime expected credit losses inherent in finance receivables as of the balance sheet date. The adequacy of the allowance for credit losses is assessed quarterly. Adjustments to the allowance for credit losses are made by recording charges to Ford Credit interest, operating, and other expenses on our consolidated income statements. The uncollectible portion of a finance receivable is charged to the allowance for credit losses at the earlier of when an account is deemed to be uncollectible or when an account is 120 days delinquent, taking into consideration the financial condition of the customer or borrower, the value of the collateral, recourse to guarantors, and other factors . NOTE 8. FORD CREDIT FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Continued) Charge-offs on finance receivables include uncollected amounts related to principal, interest, late fees, and other allowable charges. Recoveries on finance receivables previously charged off as uncollectible are credited to the allowance for credit losses. In the event Ford Credit repossesses the collateral, the receivable is charged off and the collateral is recorded at its estimated fair value less costs to sell and reported in Other assets on our consolidated balance sheets. |
Financing Receivable [Policy Text Block] | Ford Credit manages finance receivables as “consumer” and “non-consumer” portfolios. The receivables are generally secured by the vehicles, inventory, or other property being financed. Finance receivables are recorded at the time of origination or purchase at fair value and are subsequently reported at amortized cost, net of any allowance for credit losses. For all finance receivables, Ford Credit defines “past due” as any payment, including principal and interest, that is at least 31 days past the contractual due date. |
Other Investments (Policies)
Other Investments (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Other Investments [Abstract] | |
Equity Securities without Readily Determinable Fair Value | We have investments in entities not accounted for under the equity method for which fair values are not readily available. We record these investments at cost (less impairment, if any), adjusted for observable price changes in orderly transactions for the identical or a similar investment of the same issuer. We report the carrying value of these investments in Other assets |
Retirement Benefits Pension and
Retirement Benefits Pension and Other Postemployment Benefits (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Pension and Other Postretirement Plans, Pensions, Policy [Policy Text Block] | The service cost component is included in Cost of sales and Selling, administrative, and other expenses . Other components of net periodic benefit cost/(income) are included in Other income/(loss), net |
Derivative Financial Instrume_2
Derivative Financial Instruments and Hedging Activities Derivative Financial Instruments and Hedging Activities (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives, Policy [Policy Text Block] | In the normal course of business, our operations are exposed to global market risks, including the effect of changes in foreign currency exchange rates, certain commodity prices, and interest rates. To manage these risks, we enter into highly effective derivative contracts. We have elected to apply hedge accounting to certain derivatives. Derivatives that are designated in hedging relationships are evaluated for effectiveness using regression analysis at the time they are designated and throughout the hedge period. Some derivatives do not qualify for hedge accounting; for others, we elect not to apply hedge accounting. Derivative assets and liabilities are reported on our consolidated balance sheets at fair value and are presented on a gross basis. The notional amounts of the derivative instruments do not necessarily represent amounts exchanged by the parties and are not a direct measure of our financial exposure. We also enter into master agreements with counterparties that may allow for netting of exposures in the event of default or breach of the counterparty agreement. Collateral represents cash received or paid under reciprocal arrangements that we have entered into with our derivative counterparties, which we do not use to offset our derivative assets and liabilities. |
Employee Separation Actions a_2
Employee Separation Actions and Exit and Disposal Activities (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Restructuring Charges [Abstract] | |
Costs Associated with Exit or Disposal Activities or Restructurings, Policy [Policy Text Block] | We record costs associated with voluntary separations at the time of employee acceptance, unless the acceptance requires explicit approval by the Company. We record costs associated with involuntary separation programs when management has approved the plan for separation, the affected employees are identified, and it is unlikely that actions required to complete the separation plan will change significantly. Costs associated with benefits that are contingent on the employee continuing to provide service are accrued over the required service period. |
Commitments and Contingencies C
Commitments and Contingencies Commitments and Contingencies (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
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, including trade and customs; alleged illegal acts resulting in fines or penalties; financial services; employment-related matters; dealer, supplier, and other contractual relationships; intellectual property rights; environmental matters; shareholder or investor matters; and financial reporting matters. Certain of the pending legal actions are, or purport to be, class actions. Some of the matters involve or may involve claims for compensatory, punitive, or antitrust or other treble damages in very large amounts, or demands for field service actions, environmental remediation programs, sanctions, loss of government incentives, assessments, or other relief, which, if granted, would require very large expenditures. The extent of our financial exposure to these matters is difficult to estimate. Many matters do not specify a dollar amount for damages, and many others specify only a jurisdictional minimum. To the extent an amount is asserted, our historical experience suggests that in most instances the amount asserted is not a reliable indicator of the ultimate outcome. We accrue for matters when losses are deemed probable and reasonably estimable. In evaluating matters for accrual and disclosure purposes, we take into consideration factors such as our historical experience with matters of a similar nature, the specific facts and circumstances asserted, the likelihood that we will prevail, and the severity of any potential loss. We reevaluate and update our accruals as matters progress over time. For the majority of matters, which generally arise out of alleged defects in our products, we establish an accrual based on our extensive historical experience with similar matters. We do not believe there is a reasonably possible outcome materially in excess of our accrual for these matters. |
Guarantees, Indemnifications and Warranties Policies [Policy Text Block] | Financial Guarantees. Financial guarantees and indemnifications are recorded at fair value at their inception. Subsequent to initial recognition, the guarantee liability is adjusted at each reporting period to reflect the current estimate of expected payments resulting from possible default events over the remaining life of the guarantee. Non-Financial Guarantees. Non-financial guarantees and indemnifications are recorded at fair value at their inception. We regularly review our performance risk under these arrangements, and in the event it becomes probable we will be required to perform under a guarantee or indemnity, the amount of probable payment is recorded. Warranty and Field Service Actions We accrue the estimated cost of both base warranty coverages and field service actions at the time of sale. We establish our estimate of base warranty obligations using a patterned estimation model, using historical information regarding the nature, frequency, and average cost of claims for each vehicle line by model year. We establish our estimates of field service action obligations using a patterned estimation model, using historical information regarding the nature, frequency, severity, and average cost of claims for each model year. In addition, from time to time, we issue extended warranties at our expense, the estimated cost of which is accrued at the time of issuance. Warranty and field service action obligations are reported in Other liabilities and deferred revenue . We reevaluate the adequacy of our accruals on a regular basis. We recognize the benefit from a recovery of the costs associated with our warranty and field service actions when specifics of the recovery have been agreed with our supplier and the amount of recovery is virtually certain. Recoveries are reported in Trade and other receivables, net and Other assets. |
Segment Information Segment Inf
Segment Information Segment Information (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Segment Reporting [Abstract] | |
Segment Reporting, Policy [Policy Text Block] | We report segment information consistent with the way our chief operating decision maker (“CODM”) evaluates the operating results and performance of the Company. Accordingly, we analyze the results of our business through the following segments: Automotive, Mobility, and Ford Credit. Effective with fourth quarter 2021 reporting, special items include gains and losses on investments in equity securities. Prior period amounts were adjusted retrospectively to reflect the change. Below is a description of our reportable segments and other activities. Automotive Segment The 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 and enterprise connectivity. The segment includes the following regional business units: North America, South America, Europe, China (including Taiwan), and the International Markets Group. Mobility Segment The Mobility segment primarily includes development costs for Ford’s autonomous vehicles and related businesses, Ford’s equity ownership in Argo AI (a developer of autonomous driving systems), and other mobility businesses and investments. For additional information about our investment in Argo AI, see Note 10. Ford Credit Segment The Ford Credit segment is comprised of the Ford Credit business on a consolidated basis, which is primarily vehicle-related financing and leasing activities. Corporate Other Corporate Other primarily includes corporate governance expenses, interest income (excluding interest earned on our extended service contract portfolio that is included in our Automotive segment) and gains and losses from our cash, cash equivalents, and marketable securities (excluding gains and losses on investments in equity securities), and foreign exchange derivatives gains and losses associated with intercompany lending. Corporate governance expenses are primarily administrative, delivering benefit on behalf of the global enterprise, that are not allocated to operating segments. These include expenses related to setting and directing global policy, providing oversight and stewardship, and promoting the Company’s interests. Corporate Other assets include: cash, cash equivalents, and marketable securities; tax related assets; other investments; and other assets managed centrally. Interest on Debt Interest on Debt is presented as a separate reconciling item and consists of interest expense on Company debt excluding Ford Credit. The underlying liability is reported in the Automotive segment and in Corporate Other. Special Items |
Revenue (Tables)
Revenue (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation Of Revenue | The following tables disaggregate our revenue by major source for the periods ended September 30 (in millions): Third Quarter 2021 Company excluding Ford Credit Ford Credit Consolidated Vehicles, parts, and accessories $ 32,072 $ — $ 32,072 Used vehicles 450 — 450 Services and other revenue (a) 659 58 717 Revenues from sales and services 33,181 58 33,239 Leasing income 68 1,285 1,353 Financing income — 1,080 1,080 Insurance income — 11 11 Total revenues $ 33,249 $ 2,434 $ 35,683 Third Quarter 2022 Company excluding Ford Credit Consolidated Vehicles, parts, and accessories $ 36,111 $ — $ 36,111 Used vehicles 378 — 378 Services and other revenue (a) 664 13 677 Revenues from sales and services 37,153 13 37,166 Leasing income 52 1,123 1,175 Financing income — 1,037 1,037 Insurance income — 14 14 Total revenues $ 37,205 $ 2,187 $ 39,392 First Nine Months 2021 Company excluding Ford Credit Consolidated Vehicles, parts, and accessories $ 86,870 $ — $ 86,870 Used vehicles 1,947 — 1,947 Services and other revenue (a) 1,923 122 2,045 Revenues from sales and services 90,740 122 90,862 Leasing income 223 4,032 4,255 Financing income — 3,497 3,497 Insurance income — 49 49 Total revenues $ 90,963 $ 7,700 $ 98,663 First Nine Months 2022 Company excluding Ford Credit Consolidated Vehicles, parts, and accessories $ 103,933 $ — $ 103,933 Used vehicles 1,180 — 1,180 Services and other revenue (a) 2,063 84 2,147 Revenues from sales and services 107,176 84 107,260 Leasing income 158 3,500 3,658 Financing income — 3,103 3,103 Insurance income — 37 37 Total revenues $ 107,334 $ 6,724 $ 114,058 __________ (a) Includes extended service contract revenue. |
Other Income_(Loss) (Tables)
Other Income/(Loss) (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
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 September 30 were as follows (in millions): Third Quarter First Nine Months 2021 2022 2021 2022 Net periodic pension and OPEB income/(cost), excluding service cost (Note 14) $ 590 $ 431 $ 1,970 $ 1,320 Investment-related interest income 60 181 196 331 Interest income/(expense) on income taxes 3 1 — 8 Realized and unrealized gains/(losses) on cash equivalents, marketable securities, and other investments (a) (7) 609 899 (7,365) Gains/(Losses) on changes in investments in affiliates (Note 17 and Note 18) 22 9 354 (137) Gains/(Losses) on extinguishment of debt (Note 15) (4) (135) (8) (121) Royalty income 162 118 461 373 Other 26 104 11 236 Total $ 852 $ 1,318 $ 3,883 $ (5,355) __________ (a) Includes a $646 million gain and a $7.3 billion loss on our Rivian investment in the third quarter and first nine months of 2022, respectively. |
Capital Stock and Earnings Pe_2
Capital Stock and Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Earnings Per Share [Abstract] | |
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block] | Basic and diluted earnings/(loss) per share were calculated using the following (in millions): Third Quarter First Nine Months 2021 2022 2021 2022 Net income/(loss) attributable to Ford Motor Company $ 1,832 $ (827) $ 5,655 $ (3,270) Basic and Diluted Shares Basic shares (average shares outstanding) 3,995 4,021 3,989 4,017 Net dilutive options, unvested restricted stock units, unvested restricted stock shares, and convertible debt (a) 41 — 38 — Diluted shares 4,036 4,021 4,027 4,017 __________ (a) In the third quarter and first nine months of 2022, there were 38 million and 42 million shares, respectively, excluded from the calculation of diluted earnings/(loss) per share, due to their anti-dilutive effect. |
Cash, Cash Equivalents, and M_2
Cash, Cash Equivalents, and Marketable Securities (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Cash, Cash Equivalents, and Marketable Securities [Abstract] | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | The fair values of cash, cash equivalents, and marketable securities measured at fair value on a recurring basis were as follows (in millions): December 31, 2021 Fair Value Level Company excluding Ford Credit Ford Credit Consolidated Cash and cash equivalents U.S. government 1 $ 2,877 $ 711 $ 3,588 U.S. government agencies 2 355 240 595 Non-U.S. government and agencies 2 55 152 207 Corporate debt 2 105 940 1,045 Total marketable securities classified as cash equivalents 3,392 2,043 5,435 Cash, time deposits, and money market funds 6,185 8,920 15,105 Total cash and cash equivalents $ 9,577 $ 10,963 $ 20,540 Marketable securities U.S. government 1 $ 4,018 $ 864 $ 4,882 U.S. government agencies 2 2,270 75 2,345 Non-U.S. government and agencies 2 3,373 697 4,070 Corporate debt 2 6,299 304 6,603 Equities (a) 1 10,673 — 10,673 Other marketable securities 2 247 233 480 Total marketable securities $ 26,880 $ 2,173 $ 29,053 Restricted cash $ 69 $ 128 $ 197 September 30, 2022 Fair Value Level Company excluding Ford Credit Ford Credit Consolidated Cash and cash equivalents U.S. government 1 $ 3,067 $ 30 $ 3,097 U.S. government agencies 2 1,336 — 1,336 Non-U.S. government and agencies 2 1,401 369 1,770 Other cash equivalents 2 8 — 8 Corporate debt 2 773 663 1,436 Total marketable securities classified as cash equivalents 6,585 1,062 7,647 Cash, time deposits, and money market funds 8,612 5,289 13,901 Total cash and cash equivalents $ 15,197 $ 6,351 $ 21,548 Marketable securities U.S. government 1 $ 4,332 $ 305 $ 4,637 U.S. government agencies 2 2,426 245 2,671 Non-U.S. government and agencies 2 2,613 866 3,479 Corporate debt 2 6,265 265 6,530 Equities (a) 1 878 — 878 Other marketable securities 2 266 164 430 Total marketable securities $ 16,780 $ 1,845 $ 18,625 Restricted cash $ 71 $ 102 $ 173 __________ |
Debt Securities, Available-for-sale | The cash equivalents and marketable securities accounted for as available-for-sale (“AFS”) securities were as follows (in millions): December 31, 2021 Fair Value of Securities with Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Within 1 Year After 1 Year through After 5 Years Company excluding Ford Credit U.S. government $ 3,821 $ 12 $ (14) $ 3,819 $ 1,360 $ 2,435 $ 24 U.S. government agencies 2,249 2 (21) 2,230 316 1,802 112 Non-U.S. government and agencies 2,599 6 (21) 2,584 854 1,708 22 Corporate debt 6,373 21 (23) 6,371 2,645 3,726 — Other marketable securities 228 1 (1) 228 — 150 78 Total $ 15,270 $ 42 $ (80) $ 15,232 $ 5,175 $ 9,821 $ 236 September 30, 2022 Fair Value of Securities with Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Within 1 Year After 1 Year through After 5 Years Company excluding Ford Credit U.S. government $ 4,200 $ — $ (152) $ 4,048 $ 868 $ 3,159 $ 21 U.S. government agencies 2,455 — (131) 2,324 982 1,274 68 Non-U.S. government and agencies 2,315 — (140) 2,175 325 1,838 12 Corporate debt 7,240 — (239) 7,001 3,290 3,701 10 Other marketable securities 262 — (10) 252 — 180 72 Total $ 16,472 $ — $ (672) $ 15,800 $ 5,465 $ 10,152 $ 183 Sales proceeds and gross realized gains/losses from the sale of AFS securities for the periods ended September 30 were as follows (in millions): Third Quarter First Nine Months 2021 2022 2021 2022 Company excluding Ford Credit Sales proceeds $ 914 $ 692 $ 4,453 $ 5,814 Gross realized gains 4 — 21 7 Gross realized losses 1 5 3 20 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value | The present fair values and gross unrealized losses for cash equivalents and marketable securities accounted for as AFS securities that were in an unrealized loss position, aggregated by investment category and the length of time that individual securities have been in a continuous loss position, were as follows (in millions): December 31, 2021 Less than 1 Year 1 Year or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Company excluding Ford Credit U.S. government $ 2,598 $ (14) $ — $ — $ 2,598 $ (14) U.S. government agencies 1,809 (19) 73 (2) 1,882 (21) Non-U.S. government and agencies 1,614 (20) 38 (1) 1,652 (21) Corporate debt 3,637 (21) 71 (2) 3,708 (23) Other marketable securities 178 (1) 15 — 193 (1) Total $ 9,836 $ (75) $ 197 $ (5) $ 10,033 $ (80) September 30, 2022 Less than 1 Year 1 Year or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Company excluding Ford Credit U.S. government $ 3,205 $ (110) $ 750 $ (42) $ 3,955 $ (152) U.S. government agencies 1,185 (35) 1,081 (96) 2,266 (131) Non-U.S. government and agencies 1,099 (41) 1,010 (99) 2,109 (140) Corporate debt 6,016 (178) 662 (61) 6,678 (239) Other marketable securities 216 (9) 36 (1) 252 (10) Total $ 11,721 $ (373) $ 3,539 $ (299) $ 15,260 $ (672) |
Schedule Cash, Cash Equivalents, and Restricted Cash [Table Text Block] | Cash, cash equivalents, and restricted cash, as reported in the consolidated statements of cash flows, were as follows (in millions): December 31, September 30, Cash and cash equivalents $ 20,540 $ 21,548 Restricted cash (a) 197 173 Total cash, cash equivalents, and restricted cash $ 20,737 $ 21,721 __________ (a) Included in Other assets in the non-current assets section of our consolidated balance sheets. |
Ford Credit Finance Receivabl_3
Ford Credit Finance Receivables (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable | Ford Credit finance receivables, net were as follows (in millions): December 31, September 30, Consumer Retail installment contracts, gross $ 69,148 $ 64,529 Finance leases, gross 7,318 6,196 Retail financing, gross 76,466 70,725 Unearned interest supplements (3,020) (2,311) Consumer finance receivables 73,446 68,414 Non-Consumer Dealer financing 11,278 13,931 Non-Consumer finance receivables 11,278 13,931 Total recorded investment $ 84,724 $ 82,345 Recorded investment in finance receivables $ 84,724 $ 82,345 Allowance for credit losses (925) (760) Total finance receivables, net $ 83,799 $ 81,585 Current portion $ 32,543 $ 33,902 Non-current portion 51,256 47,683 Total finance receivables, net $ 83,799 $ 81,585 Net finance receivables subject to fair value (a) $ 76,796 $ 75,674 Fair value (b) 77,648 73,216 __________ (a) Net finance receivables subject to fair value exclude finance leases. (b) The fair value of finance receivables is categorized within Level 3 of the fair value hierarchy. |
Financing Receivable, Past Due | The credit quality analysis of consumer receivables at December 31, 2021 was as follows (in millions): Amortized Cost Basis by Origination Year Prior to 2017 2017 2018 2019 2020 2021 Total Percent Consumer 31 - 60 days past due $ 39 $ 52 $ 98 $ 120 $ 186 $ 91 $ 586 0.8 % 61 - 120 days past due 7 10 20 29 40 21 127 0.2 Greater than 120 days past due 10 6 6 9 11 1 43 — Total past due 56 68 124 158 237 113 756 1.0 Current 812 2,607 6,559 12,689 22,701 27,322 72,690 99.0 Total $ 868 $ 2,675 $ 6,683 $ 12,847 $ 22,938 $ 27,435 $ 73,446 100.0 % The credit quality analysis of consumer receivables at September 30, 2022 was as follows (in millions): Amortized Cost Basis by Origination Year Prior to 2018 2018 2019 2020 2021 2022 Total Percent Consumer 31 - 60 days past due $ 46 $ 60 $ 85 $ 165 $ 120 $ 63 $ 539 0.8 % 61 - 120 days past due 9 12 19 34 30 14 118 0.2 Greater than 120 days past due 10 5 6 7 7 2 37 — Total past due 65 77 110 206 157 79 694 1.0 Current 1,273 3,320 7,282 15,402 19,954 20,489 67,720 99.0 Total $ 1,338 $ 3,397 $ 7,392 $ 15,608 $ 20,111 $ 20,568 $ 68,414 100.0 % |
Financing Receivable Credit Quality Indicators | The credit quality analysis of dealer financing receivables at December 31, 2021 was as follows (in millions): Amortized Cost Basis by Origination Year Wholesale Loans Dealer Loans Prior to 2017 2017 2018 2019 2020 2021 Total Total Percent Group I $ 391 $ 68 $ 151 $ 45 $ 109 $ 345 $ 1,109 $ 6,751 $ 7,860 69.7 % Group II 11 7 26 2 4 54 104 2,689 2,793 24.8 Group III 8 — 1 — 1 20 30 529 559 4.9 Group IV — — 4 — — 6 10 56 66 0.6 Total (a) $ 410 $ 75 $ 182 $ 47 $ 114 $ 425 $ 1,253 $ 10,025 $ 11,278 100.0 % __________ (a) Total past due dealer financing receivables at December 31, 2021 were $62 million. The credit quality analysis of dealer financing receivables at September 30, 2022 was as follows (in millions): Amortized Cost Basis by Origination Year Wholesale Loans Dealer Loans Prior to 2018 2018 2019 2020 2021 2022 Total Total Percent Group I $ 418 $ 153 $ 37 $ 65 $ 196 $ 209 $ 1,078 $ 9,892 $ 10,970 78.7 % Group II 2 22 1 5 — 39 69 2,596 2,665 19.1 Group III — — — — — 10 10 250 260 1.9 Group IV — — 1 — — 3 4 32 36 0.3 Total (a) $ 420 $ 175 $ 39 $ 70 $ 196 $ 261 $ 1,161 $ 12,770 $ 13,931 100.0 % __________ (a) Total past due dealer financing receivables at September 30, 2022 were $5 million. |
Financing Receivable, Allowance for Credit Loss | An analysis of the allowance for credit losses related to finance receivables for the periods ended September 30 was as follows (in millions): Third Quarter 2021 First Nine Months 2021 Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 1,022 $ 39 $ 1,061 $ 1,245 $ 60 $ 1,305 Charge-offs (58) (2) (60) (210) (5) (215) Recoveries 50 1 51 158 6 164 Provision for/(Benefit from) credit losses (58) (1) (59) (242) (23) (265) Other (a) (9) — (9) (4) (1) (5) Ending balance $ 947 $ 37 $ 984 $ 947 $ 37 $ 984 Third Quarter 2022 First Nine Months 2022 Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 754 $ 9 $ 763 $ 903 $ 22 $ 925 Charge-offs (73) — (73) (196) (1) (197) Recoveries 39 1 40 126 3 129 Provision for/(Benefit from) credit losses 40 (1) 39 (67) (14) (81) Other (a) (9) — (9) (15) (1) (16) Ending balance $ 751 $ 9 $ 760 $ 751 $ 9 $ 760 __________ (a) Primarily represents amounts related to translation adjustments. |
Inventories (Tables)
Inventories (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory [Table Text Block] | Inventories were as follows (in millions): December 31, September 30, Raw materials, work-in-process, and supplies $ 5,785 $ 6,292 Finished products 6,280 8,921 Total inventories $ 12,065 $ 15,213 |
Other Liabilities and Deferre_2
Other Liabilities and Deferred Revenue (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
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, September 30, Current Dealer and dealers’ customer allowances and claims $ 8,300 $ 7,806 Deferred revenue 2,349 2,312 Employee benefit plans 1,687 1,736 Accrued interest 888 795 OPEB (a) 332 327 Pension (a) 202 196 Operating lease liabilities 345 380 Other (b) 4,583 5,514 Total current other liabilities and deferred revenue $ 18,686 $ 19,066 Non-current Pension (a) $ 8,658 $ 7,441 OPEB (a) 5,708 5,455 Dealer and dealers’ customer allowances and claims 4,909 5,466 Deferred revenue 4,683 4,830 Operating lease liabilities 1,048 1,056 Employee benefit plans 1,007 962 Other (b) 1,692 3,381 Total non-current other liabilities and deferred revenue $ 27,705 $ 28,591 __________ (a) Balances at September 30, 2022 reflect pension and OPEB liabilities at December 31, 2021, updated for: service and interest cost; expected return on assets; curtailments, settlements, and associated interim remeasurement (where applicable); separation expense; actual benefit payments; and cash contributions. The discount rate and rate of expected return assumptions are unchanged from year-end 2021. Included in Other assets are pension assets of $8.5 billion and $8.8 billion at December 31, 2021 and September 30, 2022, respectively. (b) Includes current derivative liabilities non-current derivative liabilities |
Retirement Benefits (Tables)
Retirement Benefits (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Retirement Benefits [Abstract] | |
Defined Benefit Plans - Expense | The pre-tax net periodic benefit cost/(income) for our defined benefit pension and OPEB plans for the periods ended September 30 were as follows (in millions): Third Quarter Pension Benefits U.S. Plans Non-U.S. Plans Worldwide OPEB 2021 2022 2021 2022 2021 2022 Service cost $ 131 $ 125 $ 140 $ 101 $ 12 $ 10 Interest cost 232 263 107 123 31 36 Expected return on assets (681) (642) (283) (245) — — Amortization of prior service costs/(credits) 1 — 5 6 (3) (1) Net remeasurement (gain)/loss (40) 7 — — — — Separation programs/other 10 9 23 11 1 1 Settlements and curtailments 7 1 — — — — Net periodic benefit cost/(income) $ (340) $ (237) $ (8) $ (4) $ 41 $ 46 First Nine Months Pension Benefits U.S. Plans Non-U.S. Plans Worldwide OPEB 2021 2022 2021 2022 2021 2022 Service cost $ 396 $ 375 $ 423 $ 319 $ 36 $ 31 Interest cost 694 790 315 390 95 110 Expected return on assets (2,047) (1,927) (852) (772) — — Amortization of prior service costs/(credits) 2 1 17 18 (9) (2) Net remeasurement (gain)/loss 201 7 (565) 16 — — Separation programs/other 15 20 107 28 1 — Settlements and curtailments 56 1 — — — — Net periodic benefit cost/(income) $ (683) $ (733) $ (555) $ (1) $ 123 $ 139 |
Debt (Tables)
Debt (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Debt Disclosure [Abstract] | |
Schedule of debt outstanding [Table Text Block] | The carrying value of Company debt excluding Ford Credit and Ford Credit debt was as follows (in millions): December 31, September 30, Company excluding Ford Credit Debt payable within one year Short-term $ 286 $ 783 Long-term payable within one year Public unsecured debt securities 86 — U.S. Department of Energy Advanced Technology Vehicles Manufacturing Incentive Program 953 — Delayed draw term loan 1,500 — Other debt 348 431 Unamortized (discount)/premium 2 (2) Total debt payable within one year 3,175 1,212 Long-term debt payable after one year Public unsecured debt securities (a) 13,643 14,936 Convertible notes (b) 2,300 2,300 U.K. Export Finance Program (c) 843 1,518 Other debt 768 695 Unamortized (discount)/premium (188) (182) Unamortized issuance costs (166) (194) Total long-term debt payable after one year 17,200 19,073 Total Company excluding Ford Credit $ 20,375 $ 20,285 Fair value of Company debt excluding Ford Credit (d) $ 24,044 $ 18,390 Ford Credit Debt payable within one year Short-term $ 14,810 $ 14,696 Long-term payable within one year Unsecured debt 13,660 8,146 Asset-backed debt 18,049 19,997 Unamortized (discount)/premium 1 — Unamortized issuance costs (13) (12) Fair value adjustments (e) 10 11 Total debt payable within one year 46,517 42,838 Long-term debt payable after one year Unsecured debt 44,337 39,006 Asset-backed debt 26,654 28,137 Unamortized (discount)/premium 28 24 Unamortized issuance costs (199) (185) Fair value adjustments (e) 380 (1,776) Total long-term debt payable after one year 71,200 65,206 Total Ford Credit $ 117,717 $ 108,044 Fair value of Ford Credit debt (d) $ 120,204 $ 105,177 __________ (a) Public unsecured debt securities increased in the third quarter due to green bond and retail bond issuance, which together totaled $2.4 billion, partially offset by a $1.1 billion bond redemption. (b) As of September 30, 2022, each $1,000 principal amount of the notes will be convertible into 58.7365 shares of our Common Stock, which is equivalent to a conversion price of approximately $17.03 per share. We recognized issuance cost amortization of $2 million and $4 million during the third quarter and first nine months of 2021, respectively, and $2 million and $5 million during the third quarter and first nine months of 2022, respectively. (c) We entered into a £750 million 5-year term loan pursuant to the U.K. Export Finance Program in June 2022. (d) At December 31, 2021 and September 30, 2022, the fair value of debt includes $209 million and $717 million of Company excluding Ford Credit short-term debt and $14.1 billion and $13.9 billion of Ford Credit short-term debt, respectively, carried at cost, which approximates fair value. All other debt is categorized within Level 2 of the fair value hierarchy. (e) These adjustments are related to hedging activity and include discontinued hedging relationship adjustments of $257 million and $112 million at December 31, 2021 and September 30, 2022, respectively. The carrying value of hedged debt was $37.5 billion and $31.2 billion at December 31, 2021 and September 30, 2022, respectively. |
Derivative Financial Instrume_3
Derivative Financial Instruments and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Income Effect of Derivative Instruments [Table Text Block] | The gains/(losses), by hedge designation, reported in income for the periods ended September 30 were as follows (in millions): Third Quarter First Nine Months Cash flow hedges 2021 2022 2021 2022 Reclassified from AOCI to Cost of sales Foreign currency exchange contracts (a) $ (161) $ (44) $ (349) $ (224) Commodity contracts (b) 50 9 78 151 Fair value hedges Interest rate contracts Net interest settlements and accruals on hedging instruments 98 (39) 299 62 Fair value changes on hedging instruments (142) (600) (680) (1,922) Fair value changes on hedged debt 135 615 638 1,991 Cross-currency interest rate swap contracts Net interest settlements and accruals on hedging instruments (2) (8) (6) (17) Fair value changes on hedging instruments (28) (66) (67) (164) Fair value changes on hedged debt 25 67 58 173 Derivatives not designated as hedging instruments Foreign currency exchange contracts (c) 123 44 209 125 Cross-currency interest rate swap contracts (194) (494) (390) (1,164) Interest rate contracts — 130 (25) 342 Commodity contracts 25 (41) 153 (72) Total $ (71) $ (427) $ (82) $ (719) __________ (a) For the third quarter and first nine months of 2021, a $225 million gain and a $346 million loss, respectively, were reported in Other comprehensive income/(loss), net of tax . For the third quarter and first nine months of 2022, a $535 million gain and a $641 million gain, respectively, were reported in Other comprehensive income/(loss), net of tax. (b) For the third quarter and first nine months of 2021, a $114 million gain and a $294 million gain, respectively, were reported in Other comprehensive income/(loss), net of tax . For the third quarter and first nine months of 2022, a $90 million loss and a $166 million loss, respectively, were reported in Other comprehensive income/(loss), net of tax . (c) For the third quarter and first nine months of 2021, a $44 million gain and a $122 million gain, respectively, were reported in Cost of sales , and a $79 million gain and an $87 million gain, respectively, were reported in Other income/(loss), net . For the third quarter and first nine months of 2022, a $68 million loss and a $12 million loss, respectively, were reported in Cost of sales , and a $112 million gain and a $137 million gain, respectively, were reported in Other income/(loss) , net. |
Balance Sheet Effect of Derivative Instruments [Table Text Block] | The fair value of our derivative instruments and the associated notional amounts were as follows (in millions): December 31, 2021 September 30, 2022 Notional Fair Value of Fair Value of Notional Fair Value of Fair Value of Cash flow hedges Foreign currency exchange contracts $ 11,534 $ 74 $ 346 $ 9,353 $ 539 $ 28 Commodity contracts 931 182 5 1,003 8 128 Fair value hedges Interest rate contracts 23,893 544 274 19,159 — 1,645 Cross-currency interest rate swap contracts 885 — 49 885 — 220 Derivatives not designated as hedging instruments Foreign currency exchange contracts 28,463 281 198 19,700 351 315 Cross-currency interest rate swap contracts 6,533 117 61 6,583 10 1,108 Interest rate contracts 50,060 338 126 50,195 946 572 Commodity contracts 997 54 11 892 2 134 Total derivative financial instruments, gross (a) (b) $ 123,296 $ 1,590 $ 1,070 $ 107,770 $ 1,856 $ 4,150 Current portion $ 924 $ 535 $ 1,235 $ 1,815 Non-current portion 666 535 621 2,335 Total derivative financial instruments, gross $ 1,590 $ 1,070 $ 1,856 $ 4,150 __________ (a) At December 31, 2021 and September 30, 2022, we held collateral of $26 million and $225 million, respectively, and we posted collateral of $71 million and $182 million, respectively. (b) At December 31, 2021 and September 30, 2022, the fair value of assets and liabilities available for counterparty netting was $719 million and $527 million, respectively . |
Employee Separation Actions a_3
Employee Separation Actions and Exit and Disposal Activities (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Restructuring Cost and Reserve [Line Items] | |
Schedule of Restructuring Reserve by Type of Cost | The following table summarizes the activities for the periods ended September 30, which are recorded in Other liabilities and deferred revenue (in millions): Third Quarter First Nine Months 2021 2022 2021 2022 Beginning balance $ 839 $ 691 $ 1,732 $ 950 Changes in accruals (a) 506 329 875 445 Payments (294) (188) (1,551) (539) Foreign currency translation (51) (21) (56) (45) Ending balance $ 1,000 $ 811 $ 1,000 $ 811 __________ |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income/(Loss) (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
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 September 30 were as follows (in millions): Third Quarter First Nine Months 2021 2022 2021 2022 Foreign currency translation Beginning balance $ (5,249) $ (6,355) $ (5,526) $ (5,487) Gains/(Losses) on foreign currency translation (236) (996) 112 (2,063) Less: Tax/(Tax benefit) (a) 66 36 133 5 Net gains/(losses) on foreign currency translation (302) (1,032) (21) (2,068) (Gains)/Losses reclassified from AOCI to net income (b) — 80 (4) 248 Other comprehensive income/(loss), net of tax (c) (302) (952) (25) (1,820) Ending balance $ (5,551) $ (7,307) $ (5,551) $ (7,307) Marketable securities Beginning balance $ 81 $ (355) $ 156 $ (19) Gains/(Losses) on available for sale securities (26) (199) (112) (647) Less: Tax/(Tax benefit) (6) (47) (28) (153) Net gains/(losses) on available for sale securities (20) (152) (84) (494) (Gains)/Losses reclassified from AOCI to net income (3) 5 (18) 13 Less: Tax/(Tax benefit) — 1 (4) 3 Net (gains)/losses reclassified from AOCI to net income (3) 4 (14) 10 Other comprehensive income/(loss), net of tax (23) (148) (98) (484) Ending balance $ 58 $ (503) $ 58 $ (503) Derivative instruments Beginning balance $ (455) $ (143) $ (266) $ (193) Gains/(Losses) on derivative instruments 339 445 (52) 475 Less: Tax/(Tax benefit) 85 105 8 112 Net gains/(losses) on derivative instruments 254 340 (60) 363 (Gains)/Losses reclassified from AOCI to net income 111 35 271 73 Less: Tax/(Tax benefit) 22 8 57 19 Net (gains)/losses reclassified from AOCI to net income (d) 89 27 214 54 Other comprehensive income/(loss), net of tax 343 367 154 417 Ending balance $ (112) $ 224 $ (112) $ 224 Pension and other postretirement benefits Beginning balance $ (2,645) $ (2,620) $ (2,658) $ (2,640) Amortization and recognition of prior service costs/(credits) 4 5 24 17 Less: Tax/(Tax benefit) 4 1 8 4 Net prior service costs/(credits) reclassified from AOCI to net income — 4 16 13 Translation impact on non-U.S. plans 5 9 2 20 Other comprehensive income/(loss), net of tax 5 13 18 33 Ending balance $ (2,640) $ (2,607) $ (2,640) $ (2,607) Total AOCI ending balance at September 30 $ (8,245) $ (10,193) $ (8,245) $ (10,193) __________ (a) We do not recognize deferred taxes for a majority of the foreign currency translation gains and losses because we do not anticipate reversal in the foreseeable future. However, we have made elections to tax certain non-U.S. operations simultaneously in U.S. tax returns, and have recorded deferred taxes for temporary differences that will reverse, independent of repatriation plans, in U.S. tax returns. Taxes or tax benefits resulting from foreign currency translation of the temporary differences are recorded in Other comprehensive income/(loss), net of tax . (b) Reclassified to Other income/(loss), net. (c) Excludes a $3 million gain and a $1 million loss related to noncontrolling interests in the third quarter and first nine months of 2022, respectively. (d) Reclassified to Cost of sales . During the next twelve months, we expect to reclassify existing net gains on cash flow hedges of $225 million (see Note 16). |
Commitments and Contingencies_2
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Warranty [Table Text Block] | The estimate of our future warranty and field service action costs, net of estimated supplier recoveries, for the periods ended September 30 was as follows (in millions): First Nine Months 2021 2022 Beginning balance $ 8,172 $ 8,451 Payments made during the period (3,109) (3,063) Changes in accrual related to warranties issued during the period 2,819 2,806 Changes in accrual related to pre-existing warranties 44 449 Foreign currency translation and other (77) (241) Ending balance $ 7,849 $ 8,402 |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Key financial information for the periods ended or at September 30 was as follows (in millions): Automotive Mobility Ford Credit Corporate Interest Special Items Adjustments Total Third Quarter 2021 Revenues $ 33,211 $ 38 $ 2,434 $ — $ — $ — $ — $ 35,683 Income/(Loss) before income taxes 2,456 (271) 1,077 (269) (439) (669) (a) — 1,885 Equity in net income/(loss) of affiliated companies 185 (68) 9 — — 4 — 130 Total assets 68,291 3,471 135,385 46,695 — — (1,165) (b) 252,677 Third Quarter 2022 Revenues $ 37,194 $ 11 $ 2,187 $ — $ — $ — $ — $ 39,392 Income/(Loss) before income taxes 1,698 (244) 599 (250) (321) (2,607) (c) — (1,125) Equity in net income/(loss) of affiliated companies 185 (87) 8 — — (2,732) (e) — (2,626) Total assets 71,983 415 127,088 48,432 — — (999) (b) 246,919 Automotive Mobility Ford Credit Corporate Interest Special Items Adjustments Total First Nine Months 2021 Revenues $ 90,893 $ 70 $ 7,700 $ — $ — $ — $ — $ 98,663 Income/(loss) before income taxes 5,756 (688) 3,662 (772) (1,365) (31) (d) — 6,562 Equity in net income/(loss) of affiliated companies 434 (191) 23 1 — (7) — 260 First Nine Months 2022 Revenues $ 107,214 $ 120 $ 6,724 $ — $ — $ — $ — $ 114,058 Income/(loss) before income taxes 6,911 (707) 2,466 (819) (941) (11,092) (c) — (4,182) Equity in net income/(loss) of affiliated companies 481 (245) 18 1 — (2,856) (e) — (2,601) __________ (a) Primarily reflects Global Redesign actions, mark-to-market adjustments for our global pension and OPEB plans, and gains/(losses) on investments in equity securities. (b) Includes eliminations of intersegment transactions occurring in the ordinary course of business and deferred tax netting. (c) Primarily reflects gains/(losses) on our Rivian investment and the impairment of our Argo AI equity method investment. (d) Primarily reflects gains on our Rivian investment, Global Redesign actions, and mark-to-market adjustments for our global pension and OPEB plans. (e) Primarily reflects the impairment of our Argo AI equity method investment. |
Revenue - Disaggregation of Rev
Revenue - Disaggregation of Revenue from Contract with Customer by Products and Services (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Disaggregation of Revenue [Line Items] | ||||
Total revenues | $ 39,392 | $ 35,683 | $ 114,058 | $ 98,663 |
Ford Credit | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 2,187 | 2,434 | 6,724 | 7,700 |
Vehicles, parts, and accessories | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 36,111 | 32,072 | 103,933 | 86,870 |
Used vehicles | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 378 | 450 | 1,180 | 1,947 |
Service and Other Revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 677 | 717 | 2,147 | 2,045 |
Revenues from sales and services | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 37,166 | 33,239 | 107,260 | 90,862 |
Leasing income | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 1,175 | 1,353 | 3,658 | 4,255 |
Financing income | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 1,037 | 1,080 | 3,103 | 3,497 |
Insurance income | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 14 | 11 | 37 | 49 |
Operating Segments | Company excluding Ford Credit | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 37,205 | 33,249 | 107,334 | 90,963 |
Operating Segments | Ford Credit | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 2,187 | 2,434 | 6,724 | 7,700 |
Operating Segments | Vehicles, parts, and accessories | Company excluding Ford Credit | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 36,111 | 32,072 | 103,933 | 86,870 |
Operating Segments | Vehicles, parts, and accessories | Ford Credit | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 0 | 0 | 0 | 0 |
Operating Segments | Used vehicles | Company excluding Ford Credit | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 378 | 450 | 1,180 | 1,947 |
Operating Segments | Used vehicles | Ford Credit | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 0 | 0 | 0 | 0 |
Operating Segments | Service and Other Revenue | Company excluding Ford Credit | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 664 | 659 | 2,063 | 1,923 |
Operating Segments | Service and Other Revenue | Ford Credit | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 13 | 58 | 84 | 122 |
Operating Segments | Revenues from sales and services | Company excluding Ford Credit | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 37,153 | 33,181 | 107,176 | 90,740 |
Operating Segments | Revenues from sales and services | Ford Credit | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 13 | 58 | 84 | 122 |
Operating Segments | Leasing income | Company excluding Ford Credit | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 52 | 68 | 158 | 223 |
Operating Segments | Leasing income | Ford Credit | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 1,123 | 1,285 | 3,500 | 4,032 |
Operating Segments | Financing income | Company excluding Ford Credit | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 0 | 0 | 0 | 0 |
Operating Segments | Financing income | Ford Credit | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 1,037 | 1,080 | 3,103 | 3,497 |
Operating Segments | Insurance income | Company excluding Ford Credit | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | 0 | 0 | 0 | 0 |
Operating Segments | Insurance income | Ford Credit | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues | $ 14 | $ 11 | $ 37 | $ 49 |
Revenue Revenue - Narrative (De
Revenue Revenue - Narrative (Details) - Operating Segments - Company excluding Ford Credit - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Vehicles, parts, and accessories | |||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||||
Revenue Performance Obligation Satisfied In Prior Period | $ (37) | $ 110 | |||
Services and other revenue (a) | |||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||||
Revenue, Remaining Performance Obligation, Amount | 400 | $ 400 | |||
Contract with Customer, Liability | 4,300 | 4,300 | $ 4,300 | ||
Contract with Customer, Liability, Revenue Recognized | 343 | 333 | 1,100 | $ 1,000 | |
Capitalized Contract Cost, Net | 308 | 308 | $ 309 | ||
Capitalized Contract Cost, Amortization | $ 22 | $ 21 | $ 66 | $ 60 |
Revenue Revenue - Performance O
Revenue Revenue - Performance Obligations (Details) - Services and other revenue (a) - Company excluding Ford Credit - Operating Segments $ in Millions | Sep. 30, 2022 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, Remaining Performance Obligation, Amount | $ 400 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 3 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, Remaining Performance Obligation, Amount | $ 1,300 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, Remaining Performance Obligation, Amount | $ 2,600 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 8 years |
Other Income_(Loss) (Details)
Other Income/(Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component | $ 431 | $ 590 | $ 1,320 | $ 1,970 |
Investment-related interest income | 181 | 60 | 331 | 196 |
Unrecognized Tax Benefits, Interest on Income Taxes Expense | 1 | 3 | 8 | 0 |
Gain (Loss) on Investments | 609 | (7) | (7,365) | 899 |
Gains (Losses) On Changes In Investments In Affiliates | 9 | 22 | (137) | 354 |
Gain (Loss) on Extinguishment of Debt | (135) | (4) | (121) | (8) |
Royalty income | 118 | 162 | 373 | 461 |
Other | 104 | 26 | 236 | 11 |
Total | 1,318 | $ 852 | (5,355) | $ 3,883 |
Equities (a) | Rivian | ||||
Gain (Loss) on Investments | $ 646 | $ (7,300) |
Capital Stock and Earnings Pe_3
Capital Stock and Earnings Per Share (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Basic and Diluted Income Attributable to Ford Motor Company [Abstract] | ||||
Net income/(loss) attributable to Ford Motor Company | $ (827) | $ 1,832 | $ (3,270) | $ 5,655 |
Basic and Diluted Shares [Abstract] | ||||
Basic shares (average shares outstanding) | 4,021 | 3,995 | 4,017 | 3,989 |
Net dilutive options, unvested restricted stock units, unvested restricted stock shares, and convertible debt (a) | 0 | 41 | 0 | 38 |
Diluted shares | 4,021 | 4,036 | 4,017 | 4,027 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 38 | 42 |
Cash, Cash Equivalents, and M_3
Cash, Cash Equivalents, and Marketable Securities (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Dec. 31, 2020 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Total cash and cash equivalents | $ 21,548 | $ 21,548 | $ 20,540 | ||
Restricted cash | 173 | 173 | 197 | ||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 21,721 | 21,721 | 20,737 | $ 27,624 | $ 25,935 |
Operating Segments | Ford Credit | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Total cash and cash equivalents | 6,351 | 6,351 | 10,963 | ||
Restricted cash | 102 | 102 | 128 | ||
Operating Segments | Company excluding Ford Credit | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Total cash and cash equivalents | 15,197 | 15,197 | 9,577 | ||
Debt Securities, Available-for-sale | 15,800 | 15,800 | 15,232 | ||
Restricted cash | 71 | 71 | 69 | ||
U.S. government | Operating Segments | Company excluding Ford Credit | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Available-for-sale | 4,048 | 4,048 | 3,819 | ||
U.S. government agencies | Operating Segments | Company excluding Ford Credit | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Available-for-sale | 2,324 | 2,324 | 2,230 | ||
Non-U.S. government and agencies | Operating Segments | Company excluding Ford Credit | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Available-for-sale | 2,175 | 2,175 | 2,584 | ||
Corporate debt | Operating Segments | Company excluding Ford Credit | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Available-for-sale | 7,001 | 7,001 | 6,371 | ||
Equities (a) | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Marketable Securities, Unrealized Gain (Loss) | (1,800) | 8,300 | |||
Equities (a) | Rivian | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Marketable Security, Common Stock | $ 817 | $ 817 | $ 10,600 | ||
Share Price | $ 32.91 | $ 32.91 | $ 103.69 | ||
Marketable Security, Common Stock, Shares Sold | 51.9 | ||||
Proceeds from Sale of Equity Securities, FV-NI | $ 1,800 | ||||
Other marketable securities | Operating Segments | Company excluding Ford Credit | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Available-for-sale | 252 | $ 252 | $ 228 | ||
Fair Value, Recurring | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Cash and Cash Equivalents, Fair Value Disclosure | 7,647 | 7,647 | 5,435 | ||
Cash, Cash Equivalents, and Short-term Investments | 13,901 | 13,901 | 15,105 | ||
Debt Securities, Available-for-sale | 18,625 | 18,625 | 29,053 | ||
Fair Value, Recurring | Operating Segments | Ford Credit | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Cash and Cash Equivalents, Fair Value Disclosure | 1,062 | 1,062 | 2,043 | ||
Cash, Cash Equivalents, and Short-term Investments | 5,289 | 5,289 | 8,920 | ||
Debt Securities, Available-for-sale | 1,845 | 1,845 | 2,173 | ||
Fair Value, Recurring | Operating Segments | Company excluding Ford Credit | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Cash and Cash Equivalents, Fair Value Disclosure | 6,585 | 6,585 | 3,392 | ||
Cash, Cash Equivalents, and Short-term Investments | 8,612 | 8,612 | 6,185 | ||
Debt Securities, Available-for-sale | 16,780 | 16,780 | 26,880 | ||
Fair Value, Recurring | Level 1 [Member] | U.S. government | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Cash and Cash Equivalents, Fair Value Disclosure | 3,097 | 3,097 | 3,588 | ||
Debt Securities, Available-for-sale | 4,637 | 4,637 | 4,882 | ||
Fair Value, Recurring | Level 1 [Member] | U.S. government | Operating Segments | Ford Credit | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Cash and Cash Equivalents, Fair Value Disclosure | 30 | 30 | 711 | ||
Debt Securities, Available-for-sale | 305 | 305 | 864 | ||
Fair Value, Recurring | Level 1 [Member] | U.S. government | Operating Segments | Company excluding Ford Credit | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Cash and Cash Equivalents, Fair Value Disclosure | 3,067 | 3,067 | 2,877 | ||
Debt Securities, Available-for-sale | 4,332 | 4,332 | 4,018 | ||
Fair Value, Recurring | Level 1 [Member] | Equities (a) | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Available-for-sale | 878 | 878 | 10,673 | ||
Fair Value, Recurring | Level 1 [Member] | Equities (a) | Operating Segments | Ford Credit | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Available-for-sale | 0 | 0 | 0 | ||
Fair Value, Recurring | Level 1 [Member] | Equities (a) | Operating Segments | Company excluding Ford Credit | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Available-for-sale | 878 | 878 | 10,673 | ||
Fair Value, Recurring | Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Other Cash Equivalents, at Carrying Value | 8 | 8 | |||
Fair Value, Recurring | Level 2 [Member] | Operating Segments | Ford Credit | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Other Cash Equivalents, at Carrying Value | 0 | 0 | |||
Fair Value, Recurring | Level 2 [Member] | Operating Segments | Company excluding Ford Credit | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Other Cash Equivalents, at Carrying Value | 8 | 8 | |||
Fair Value, Recurring | Level 2 [Member] | U.S. government agencies | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Cash and Cash Equivalents, Fair Value Disclosure | 1,336 | 1,336 | 595 | ||
Debt Securities, Available-for-sale | 2,671 | 2,671 | 2,345 | ||
Fair Value, Recurring | Level 2 [Member] | U.S. government agencies | Operating Segments | Ford Credit | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 | 240 | ||
Debt Securities, Available-for-sale | 245 | 245 | 75 | ||
Fair Value, Recurring | Level 2 [Member] | U.S. government agencies | Operating Segments | Company excluding Ford Credit | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Cash and Cash Equivalents, Fair Value Disclosure | 1,336 | 1,336 | 355 | ||
Debt Securities, Available-for-sale | 2,426 | 2,426 | 2,270 | ||
Fair Value, Recurring | Level 2 [Member] | Non-U.S. government and agencies | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Cash and Cash Equivalents, Fair Value Disclosure | 1,770 | 1,770 | 207 | ||
Debt Securities, Available-for-sale | 3,479 | 3,479 | 4,070 | ||
Fair Value, Recurring | Level 2 [Member] | Non-U.S. government and agencies | Operating Segments | Ford Credit | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Cash and Cash Equivalents, Fair Value Disclosure | 369 | 369 | 152 | ||
Debt Securities, Available-for-sale | 866 | 866 | 697 | ||
Fair Value, Recurring | Level 2 [Member] | Non-U.S. government and agencies | Operating Segments | Company excluding Ford Credit | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Cash and Cash Equivalents, Fair Value Disclosure | 1,401 | 1,401 | 55 | ||
Debt Securities, Available-for-sale | 2,613 | 2,613 | 3,373 | ||
Fair Value, Recurring | Level 2 [Member] | Corporate debt | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Cash and Cash Equivalents, Fair Value Disclosure | 1,436 | 1,436 | 1,045 | ||
Debt Securities, Available-for-sale | 6,530 | 6,530 | 6,603 | ||
Fair Value, Recurring | Level 2 [Member] | Corporate debt | Operating Segments | Ford Credit | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Cash and Cash Equivalents, Fair Value Disclosure | 663 | 663 | 940 | ||
Debt Securities, Available-for-sale | 265 | 265 | 304 | ||
Fair Value, Recurring | Level 2 [Member] | Corporate debt | Operating Segments | Company excluding Ford Credit | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Cash and Cash Equivalents, Fair Value Disclosure | 773 | 773 | 105 | ||
Debt Securities, Available-for-sale | 6,265 | 6,265 | 6,299 | ||
Fair Value, Recurring | Level 2 [Member] | Other marketable securities | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Available-for-sale | 430 | 430 | 480 | ||
Fair Value, Recurring | Level 2 [Member] | Other marketable securities | Operating Segments | Ford Credit | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Available-for-sale | 164 | 164 | 233 | ||
Fair Value, Recurring | Level 2 [Member] | Other marketable securities | Operating Segments | Company excluding Ford Credit | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Available-for-sale | $ 266 | $ 266 | $ 247 |
Cash, Cash Equivalents, and M_4
Cash, Cash Equivalents, and Marketable Securities Available for Sale Securities (Details) - Operating Segments - Company excluding Ford Credit - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Debt Securities, Available-for-sale [Abstract] | |||||
Debt Securities, Available-for-sale, Amortized Cost | $ 16,472 | $ 16,472 | $ 15,270 | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | 42 | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (672) | (672) | (80) | ||
Debt Securities, Available-for-sale | 15,800 | 15,800 | 15,232 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | 5,465 | 5,465 | 5,175 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 10,152 | 10,152 | 9,821 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | 183 | 183 | 236 | ||
Sales proceeds | 692 | $ 914 | 5,814 | $ 4,453 | |
Gross realized gains | 0 | 4 | 7 | 21 | |
Gross realized losses | 5 | $ 1 | 20 | $ 3 | |
U.S. government | |||||
Debt Securities, Available-for-sale [Abstract] | |||||
Debt Securities, Available-for-sale, Amortized Cost | 4,200 | 4,200 | 3,821 | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | 12 | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (152) | (152) | (14) | ||
Debt Securities, Available-for-sale | 4,048 | 4,048 | 3,819 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | 868 | 868 | 1,360 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 3,159 | 3,159 | 2,435 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | 21 | 21 | 24 | ||
U.S. government agencies | |||||
Debt Securities, Available-for-sale [Abstract] | |||||
Debt Securities, Available-for-sale, Amortized Cost | 2,455 | 2,455 | 2,249 | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | 2 | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (131) | (131) | (21) | ||
Debt Securities, Available-for-sale | 2,324 | 2,324 | 2,230 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | 982 | 982 | 316 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 1,274 | 1,274 | 1,802 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | 68 | 68 | 112 | ||
Non-U.S. government and agencies | |||||
Debt Securities, Available-for-sale [Abstract] | |||||
Debt Securities, Available-for-sale, Amortized Cost | 2,315 | 2,315 | 2,599 | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | 6 | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (140) | (140) | (21) | ||
Debt Securities, Available-for-sale | 2,175 | 2,175 | 2,584 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | 325 | 325 | 854 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 1,838 | 1,838 | 1,708 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | 12 | 12 | 22 | ||
Corporate debt | |||||
Debt Securities, Available-for-sale [Abstract] | |||||
Debt Securities, Available-for-sale, Amortized Cost | 7,240 | 7,240 | 6,373 | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | 21 | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (239) | (239) | (23) | ||
Debt Securities, Available-for-sale | 7,001 | 7,001 | 6,371 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | 3,290 | 3,290 | 2,645 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 3,701 | 3,701 | 3,726 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | 10 | 10 | 0 | ||
Other marketable securities | |||||
Debt Securities, Available-for-sale [Abstract] | |||||
Debt Securities, Available-for-sale, Amortized Cost | 262 | 262 | 228 | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | 1 | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (10) | (10) | (1) | ||
Debt Securities, Available-for-sale | 252 | 252 | 228 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | 0 | 0 | 0 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 180 | 180 | 150 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | $ 72 | $ 72 | $ 78 |
Cash, Cash Equivalents, and M_5
Cash, Cash Equivalents, and Marketable Securities Debt Securities in Unrealized Loss Position (Details) - Company excluding Ford Credit - Operating Segments - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 11,721 | $ 9,836 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (373) | (75) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 3,539 | 197 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (299) | (5) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 15,260 | 10,033 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (672) | (80) |
U.S. government | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 3,205 | 2,598 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (110) | (14) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 750 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (42) | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 3,955 | 2,598 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (152) | (14) |
U.S. government agencies | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 1,185 | 1,809 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (35) | (19) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 1,081 | 73 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (96) | (2) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 2,266 | 1,882 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (131) | (21) |
Non-U.S. government and agencies | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 1,099 | 1,614 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (41) | (20) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 1,010 | 38 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (99) | (1) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 2,109 | 1,652 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (140) | (21) |
Corporate debt | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 6,016 | 3,637 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (178) | (21) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 662 | 71 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (61) | (2) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 6,678 | 3,708 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (239) | (23) |
Other marketable securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 216 | 178 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (9) | (1) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 36 | 15 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1) | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 252 | 193 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ (10) | $ (1) |
Cash, Cash Equivalents, and M_6
Cash, Cash Equivalents, and Marketable Securities Restricted Cash (Details) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Dec. 31, 2020 |
Restricted Cash and Cash Equivalents Items [Line Items] | ||||
Cash and cash equivalents | $ 21,548 | $ 20,540 | ||
Restricted cash | 173 | 197 | ||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $ 21,721 | $ 20,737 | $ 27,624 | $ 25,935 |
Ford Credit Finance Receivabl_4
Ford Credit Finance Receivables, net (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | |
Financing Receivables [Line Items] | ||||||||
Number Of Days After Which Finance Receivable Is Considered Past Due | 31 days | 31 days | ||||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | ||||||||
Current portion | $ 33,902 | $ 33,902 | $ 32,543 | |||||
Non-current portion | 47,683 | 47,683 | 51,256 | |||||
Variable Interest Entity, Primary Beneficiary | ||||||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | ||||||||
Total finance receivables, net | 42,657 | 42,657 | 43,001 | |||||
Ford Credit | ||||||||
Financing Receivables [Line Items] | ||||||||
Sales-type Lease, Lease Income | 73 | $ 86 | 223 | $ 264 | ||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | ||||||||
Retail installment contracts, gross | 82,345 | 82,345 | 84,724 | |||||
Total finance receivables, net | 81,585 | 81,585 | 83,799 | |||||
Financing Receivable, Allowance for Credit Loss | (760) | (984) | (760) | (984) | $ (763) | (925) | $ (1,061) | $ (1,305) |
Current portion | 33,902 | 33,902 | 32,543 | |||||
Non-current portion | 47,683 | 47,683 | 51,256 | |||||
Net finance receivables subject to fair value (a) | 75,674 | 75,674 | 76,796 | |||||
Interest Receivable | 132 | 132 | 125 | |||||
Ford Credit | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | ||||||||
Fair value (b) | 73,216 | 73,216 | 77,648 | |||||
Ford Credit | Consumer | ||||||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | ||||||||
Retail installment contracts, gross | 68,414 | 68,414 | 73,446 | |||||
Retail financing, gross | 70,725 | 70,725 | 76,466 | |||||
Financing Receivable, Allowance for Credit Loss | (751) | (947) | (751) | (947) | (754) | (903) | (1,022) | (1,245) |
Ford Credit | Consumer | Variable Interest Entity, Primary Beneficiary | ||||||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | ||||||||
Retail installment contracts, gross | 40,700 | 40,700 | 39,000 | |||||
Ford Credit | Consumer | Retail installment contracts | ||||||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | ||||||||
Retail installment contracts, gross | 64,529 | 64,529 | 69,148 | |||||
Ford Credit | Consumer | Retail financing | ||||||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | ||||||||
Retail installment contracts, gross | 68,414 | 68,414 | 73,446 | |||||
Unearned interest supplements | (2,311) | (2,311) | (3,020) | |||||
Ford Credit | Finance Leases Portfolio Segment | Retail financing | ||||||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | ||||||||
Finance leases, gross | 6,196 | 6,196 | 7,318 | |||||
Ford Credit | Non-consumer | ||||||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | ||||||||
Retail installment contracts, gross | 13,931 | 13,931 | 11,278 | |||||
Financing Receivable, Allowance for Credit Loss | (9) | $ (37) | (9) | $ (37) | $ (9) | (22) | $ (39) | $ (60) |
Ford Credit | Non-consumer | Variable Interest Entity, Primary Beneficiary | ||||||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | ||||||||
Retail installment contracts, gross | 14,300 | 14,300 | 12,000 | |||||
Ford Credit | Non-consumer | Dealer financing | ||||||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | ||||||||
Retail installment contracts, gross | $ 13,931 | $ 13,931 | $ 11,278 |
Ford Credit Finance Receivabl_5
Ford Credit Finance Receivables - Aging (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2022 | Dec. 31, 2021 | |
Pass | Consumer | Maximum | ||
Financing Receivables, Aging [Line Items] | ||
Finance Receivables Credit Quality Ratings Term Range | 60 days | |
Special Mention | Consumer | Minimum | ||
Financing Receivables, Aging [Line Items] | ||
Finance Receivables Credit Quality Ratings Term Range | 61 days | |
Special Mention | Consumer | Maximum | ||
Financing Receivables, Aging [Line Items] | ||
Finance Receivables Credit Quality Ratings Term Range | 120 days | |
Substandard | Consumer | Minimum | ||
Financing Receivables, Aging [Line Items] | ||
Finance Receivables Credit Quality Ratings Term Range | 120 days | |
Ford Credit | ||
Financing Receivables, Aging [Line Items] | ||
Recorded investment | $ 82,345 | $ 84,724 |
Non-accrual of Financing Revenue | 90 days | |
Ford Credit | Consumer | ||
Financing Receivables, Aging [Line Items] | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | $ 1,338 | 868 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,397 | 2,675 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 7,392 | 6,683 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 15,608 | 12,847 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 20,111 | 22,938 |
Financing Receivable, Originated in Current Fiscal Year | 20,568 | 27,435 |
Recorded investment | $ 68,414 | $ 73,446 |
Financing Receivable, Percent Past Due | 100% | 100% |
Ford Credit | Consumer | Financing Receivables, 31 to 60 Days Past due [Member] | ||
Financing Receivables, Aging [Line Items] | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | $ 46 | $ 39 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 60 | 52 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 85 | 98 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 165 | 120 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 120 | 186 |
Financing Receivable, Originated in Current Fiscal Year | 63 | 91 |
Recorded investment | $ 539 | $ 586 |
Financing Receivable, Percent Past Due | 0.80% | 0.80% |
Ford Credit | Consumer | Financing Receivables, 61 to 120 Days Past due [Member] | ||
Financing Receivables, Aging [Line Items] | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | $ 9 | $ 7 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 12 | 10 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 19 | 20 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 34 | 29 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 30 | 40 |
Financing Receivable, Originated in Current Fiscal Year | 14 | 21 |
Recorded investment | $ 118 | $ 127 |
Financing Receivable, Percent Past Due | 0.20% | 0.20% |
Ford Credit | Consumer | Financing Receivables, Greater than 120 Days Past due [Member] | ||
Financing Receivables, Aging [Line Items] | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | $ 10 | $ 10 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 5 | 6 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 6 | 6 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 7 | 9 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 7 | 11 |
Financing Receivable, Originated in Current Fiscal Year | 2 | 1 |
Recorded investment | $ 37 | $ 43 |
Financing Receivable, Percent Past Due | 0% | 0% |
Ford Credit | Consumer | Financial Asset, Greater than 30 Days Past Due [Member] | ||
Financing Receivables, Aging [Line Items] | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | $ 65 | $ 56 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 77 | 68 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 110 | 124 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 206 | 158 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 157 | 237 |
Financing Receivable, Originated in Current Fiscal Year | 79 | 113 |
Recorded investment | $ 694 | $ 756 |
Financing Receivable, Percent Past Due | 1% | 1% |
Ford Credit | Consumer | Financial Asset, 1 to 29 Days Past Due [Member] | ||
Financing Receivables, Aging [Line Items] | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | $ 1,273 | $ 812 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,320 | 2,607 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 7,282 | 6,559 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 15,402 | 12,689 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 19,954 | 22,701 |
Financing Receivable, Originated in Current Fiscal Year | 20,489 | 27,322 |
Recorded investment | $ 67,720 | $ 72,690 |
Financing Receivable, Percent Past Due | 99% | 99% |
Ford Credit Finance Receivabl_6
Ford Credit Finance Receivables - Credit Quality (Details) - Ford Credit - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2022 | Dec. 31, 2021 | |
Credit quality [Line Items] | ||
Recorded investment | $ 82,345 | $ 84,724 |
Non-accrual of Financing Revenue | 90 days | |
Non-consumer | ||
Credit quality [Line Items] | ||
Financing Receivable, Revolving | $ 12,770 | 10,025 |
Recorded investment | 13,931 | 11,278 |
Non-consumer | Group I | ||
Credit quality [Line Items] | ||
Financing Receivable, Revolving | 9,892 | 6,751 |
Non-consumer | Group II | ||
Credit quality [Line Items] | ||
Financing Receivable, Revolving | 2,596 | 2,689 |
Non-consumer | Group III | ||
Credit quality [Line Items] | ||
Financing Receivable, Revolving | 250 | 529 |
Non-consumer | Group IV | ||
Credit quality [Line Items] | ||
Financing Receivable, Revolving | 32 | 56 |
Non-consumer | Dealer Loans | ||
Credit quality [Line Items] | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 420 | 410 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 175 | 75 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 39 | 182 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 70 | 47 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 196 | 114 |
Financing Receivable, Originated in Current Fiscal Year | 261 | 425 |
Recorded investment | 1,161 | 1,253 |
Non-consumer | Dealer Loans | Group I | ||
Credit quality [Line Items] | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 418 | 391 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 153 | 68 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 37 | 151 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 65 | 45 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 196 | 109 |
Financing Receivable, Originated in Current Fiscal Year | 209 | 345 |
Recorded investment | 1,078 | 1,109 |
Non-consumer | Dealer Loans | Group II | ||
Credit quality [Line Items] | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2 | 11 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 22 | 7 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1 | 26 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 5 | 2 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 4 |
Financing Receivable, Originated in Current Fiscal Year | 39 | 54 |
Recorded investment | 69 | 104 |
Non-consumer | Dealer Loans | Group III | ||
Credit quality [Line Items] | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 8 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 1 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 1 |
Financing Receivable, Originated in Current Fiscal Year | 10 | 20 |
Recorded investment | 10 | 30 |
Non-consumer | Dealer Loans | Group IV | ||
Credit quality [Line Items] | ||
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1 | 4 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 3 | 6 |
Recorded investment | 4 | 10 |
Non-consumer | Wholesale and Dealer Loans | ||
Credit quality [Line Items] | ||
Recorded investment | $ 13,931 | $ 11,278 |
Financing Receivable, Percent of Dealer Finance Receivables | 100% | 100% |
Non-consumer | Wholesale and Dealer Loans | Financing Receivables, Total Past Due | ||
Credit quality [Line Items] | ||
Recorded investment | $ 5 | $ 62 |
Non-consumer | Wholesale and Dealer Loans | Group I | ||
Credit quality [Line Items] | ||
Recorded investment | $ 10,970 | $ 7,860 |
Financing Receivable, Percent of Dealer Finance Receivables | 78.70% | 69.70% |
Non-consumer | Wholesale and Dealer Loans | Group II | ||
Credit quality [Line Items] | ||
Recorded investment | $ 2,665 | $ 2,793 |
Financing Receivable, Percent of Dealer Finance Receivables | 19.10% | 24.80% |
Non-consumer | Wholesale and Dealer Loans | Group III | ||
Credit quality [Line Items] | ||
Recorded investment | $ 260 | $ 559 |
Financing Receivable, Percent of Dealer Finance Receivables | 1.90% | 4.90% |
Non-consumer | Wholesale and Dealer Loans | Group IV | ||
Credit quality [Line Items] | ||
Recorded investment | $ 36 | $ 66 |
Financing Receivable, Percent of Dealer Finance Receivables | 0.30% | 0.60% |
Allowance for Credit Losses (De
Allowance for Credit Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Financing Receivable, Threshold Period Past Due, Writeoff | 120 days | 120 days | ||
Ford Credit | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Financing Receivable, Allowance for Credit Loss | $ 763 | $ 1,061 | $ 925 | $ 1,305 |
Financing Receivable, Allowance for Credit Loss, Writeoff | (73) | (60) | (197) | (215) |
Financing Receivable, Allowance for Credit Loss, Recovery | 40 | 51 | 129 | 164 |
Provision for credit losses | 39 | (59) | (81) | (265) |
Financing Receivable, Allowance for Credit Loss, Foreign Currency Translation | (9) | (9) | (16) | (5) |
Financing Receivable, Allowance for Credit Loss, Ending Balance | 760 | 984 | 760 | 984 |
Global Pandemic [Member] | Ford Credit | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease) | (3) | (165) | ||
Consumer | Ford Credit | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Financing Receivable, Allowance for Credit Loss | 754 | 1,022 | 903 | 1,245 |
Financing Receivable, Allowance for Credit Loss, Writeoff | (73) | (58) | (196) | (210) |
Financing Receivable, Allowance for Credit Loss, Recovery | 39 | 50 | 126 | 158 |
Provision for credit losses | 40 | (58) | (67) | (242) |
Financing Receivable, Allowance for Credit Loss, Foreign Currency Translation | (9) | (9) | (15) | (4) |
Financing Receivable, Allowance for Credit Loss, Ending Balance | 751 | 947 | 751 | 947 |
Non-consumer | Ford Credit | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Financing Receivable, Allowance for Credit Loss | 9 | 39 | 22 | 60 |
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | (2) | (1) | (5) |
Financing Receivable, Allowance for Credit Loss, Recovery | 1 | 1 | 3 | 6 |
Provision for credit losses | (1) | (1) | (14) | (23) |
Financing Receivable, Allowance for Credit Loss, Foreign Currency Translation | 0 | 0 | (1) | (1) |
Financing Receivable, Allowance for Credit Loss, Ending Balance | $ 9 | $ 37 | $ 9 | $ 37 |
Inventories (Details)
Inventories (Details) $ in Millions | Sep. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Inventory Disclosure [Abstract] | ||
Raw materials, work-in-process, and supplies | $ 6,292 | $ 5,785 |
Finished products | 8,921 | 6,280 |
Total inventories | $ 15,213 | $ 12,065 |
Inventory, finished goods, awaiting installation of components | 40,000 |
Investments, Equity Method an_2
Investments, Equity Method and Joint Ventures (Details) - USD ($) $ in Millions | 3 Months Ended | ||||
Sep. 30, 2022 | Jun. 30, 2020 | Aug. 31, 2022 | Dec. 31, 2021 | Feb. 10, 2017 | |
Schedule of Equity Method Investments [Line Items] | |||||
Equity Securities without Readily Determinable Fair Value, Amount | $ 400 | $ 900 | |||
Operating Segments | Argo AI | Company excluding Ford Credit | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Committed Capital | $ 1,000 | ||||
Equity Method Investment, Committed Capital, Expected Timing of Satisfaction, Period | 5 years | ||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Sale of Interest by Parent | $ 500 | ||||
Equity Method Investment, Realized Gain (Loss) on Disposal | 3,500 | ||||
Equity Method Investments, Fair Value Disclosure | 64 | 2,400 | |||
Equity Securities without Readily Determinable Fair Value, Amount | $ 400 | $ 1,000 | |||
Equity Method Investment, Other than Temporary Impairment | $ 2,700 | ||||
Equity Securities without Readily Determinable Fair Value, Amount | $ 500 |
Other Investments (Details)
Other Investments (Details) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Equity Securities without Readily Determinable Fair Value, Amount | $ 400 | $ 900 |
Other Income [Member] | ||
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Cumulative Amount | $ 135 |
Goodwill (Details)
Goodwill (Details) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Goodwill | $ 575 | $ 619 |
Other Liabilities and Deferre_3
Other Liabilities and Deferred Revenue (Details) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Accounts Payable and Accrued Liabilities, Current [Abstract] | ||
Dealer and dealers’ customer allowances and claims | $ 7,806 | $ 8,300 |
Contract with Customer, Liability, Current | 2,312 | 2,349 |
Employee benefit plans | 1,736 | 1,687 |
Accrued interest | 795 | 888 |
OPEB (a) | 327 | 332 |
Pension (a) | 196 | 202 |
Operating lease liabilities | 380 | 345 |
Other (b) | 5,514 | 4,583 |
Total current other liabilities and deferred revenue | 19,066 | 18,686 |
Accounts Payable and Accrued Liabilities, Noncurrent [Abstract] | ||
Pension (a) | 7,441 | 8,658 |
OPEB (a) | 5,455 | 5,708 |
Dealer and dealers’ customer allowances and claims | 5,466 | 4,909 |
Contract with Customer, Liability, Noncurrent | 4,830 | 4,683 |
Operating lease liabilities | 1,056 | 1,048 |
Employee benefit plans | 962 | 1,007 |
Other (b) | 3,381 | 1,692 |
Total non-current other liabilities and deferred revenue | 28,591 | 27,705 |
Net pension assets | 8,800 | 8,500 |
Derivative Liability, Current | 1,300 | 97 |
Derivative Liability, Noncurrent | $ 2,300 | $ 535 |
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration] | Total current other liabilities and deferred revenue | Total current other liabilities and deferred revenue |
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] | Total non-current other liabilities and deferred revenue | Total non-current other liabilities and deferred revenue |
Retirement Benefits - Expense (
Retirement Benefits - Expense (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Worldwide OPEB | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | ||||
Service cost | $ 10 | $ 12 | $ 31 | $ 36 |
Interest cost | 36 | 31 | 110 | 95 |
Expected return on assets | 0 | 0 | 0 | 0 |
Amortization of prior service costs/(credits) | (1) | (3) | (2) | (9) |
Net remeasurement (gain)/loss | 0 | 0 | 0 | 0 |
Defined Benefit Plan, Other Cost (Credit) | 1 | 1 | 0 | 1 |
Settlements and curtailments | 0 | 0 | 0 | 0 |
Net periodic benefit cost/(income) | 46 | 41 | 139 | 123 |
UNITED STATES | Pension Plan | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | ||||
Service cost | 125 | 131 | 375 | 396 |
Interest cost | 263 | 232 | 790 | 694 |
Expected return on assets | (642) | (681) | (1,927) | (2,047) |
Amortization of prior service costs/(credits) | 0 | 1 | 1 | 2 |
Net remeasurement (gain)/loss | 7 | (40) | 7 | 201 |
Defined Benefit Plan, Other Cost (Credit) | 9 | 10 | 20 | 15 |
Settlements and curtailments | 1 | 7 | 1 | 56 |
Net periodic benefit cost/(income) | (237) | (340) | (733) | (683) |
Foreign Plan | Pension Plan | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | ||||
Service cost | 101 | 140 | 319 | 423 |
Interest cost | 123 | 107 | 390 | 315 |
Expected return on assets | (245) | (283) | (772) | (852) |
Amortization of prior service costs/(credits) | 6 | 5 | 18 | 17 |
Net remeasurement (gain)/loss | 0 | 0 | 16 | (565) |
Defined Benefit Plan, Other Cost (Credit) | 11 | 23 | 28 | 107 |
Settlements and curtailments | 0 | 0 | 0 | 0 |
Net periodic benefit cost/(income) | (4) | (8) | (1) | (555) |
Foreign Plan | Pension Plan | Global Redesign | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | ||||
Defined Benefit Plan, Other Cost (Credit) | $ 11 | $ 22 | $ 27 | $ 106 |
Retirement Benefits Pension Pla
Retirement Benefits Pension Plan Contributions (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2022 USD ($) | |
Unfunded Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | $ 400 |
Pension Plan | Funded Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | 600 |
Defined Benefit Plan, Plan Assets, Contributions by Employer | 458 |
Pension Plan | Unfunded Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 288 |
Debt - Debt Outstanding (Detail
Debt - Debt Outstanding (Details) £ in Millions, $ in Millions | 3 Months Ended | ||||
Sep. 30, 2022 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2022 GBP (£) | Dec. 31, 2021 USD ($) | Sep. 30, 2021 USD ($) | |
Debt Instrument [Line Items] | |||||
Total assets | $ 246,919 | $ 257,035 | $ 252,677 | ||
Convertible Debt | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Face Amount | 2,300 | 2,300 | |||
Operating Segments | Ford Credit | |||||
Debt Instrument [Line Items] | |||||
Unsecured Debt, Current | 8,146 | 13,660 | |||
Secured Debt, Current | 19,997 | 18,049 | |||
Unamortized (discount)/premium, current | 0 | 1 | |||
Unamortized issuance costs, current | (12) | (13) | |||
Adjustment Fair Value Hedging Instruments Unsecured Debt, Current | 11 | 10 | |||
Long-term Debt, Current Maturities | 42,838 | 46,517 | |||
Unsecured Long-term Debt, Noncurrent | 39,006 | 44,337 | |||
Secured Long-term Debt, Noncurrent | 28,137 | 26,654 | |||
Unamortized (discount)/premium, noncurrent | 24 | 28 | |||
Unamortized issuance costs, noncurrent | (185) | (199) | |||
Fair value adjustments, noncurrent | (1,776) | 380 | |||
Long-term Debt, Excluding Current Maturities | 65,206 | 71,200 | |||
Debt, Long-term and Short-term, Combined Amount | 108,044 | 117,717 | |||
Short-term Debt, Fair Value | 13,900 | 14,100 | |||
Debt Carrying Value Fair Value | 31,200 | 37,500 | |||
Total assets | 127,088 | $ 135,385 | |||
Adjustment Fair Value Hedging Instruments Unsecured Debt, Discontinued Hedging Relationships | 112 | 257 | |||
Operating Segments | Ford Credit | Corporate debt | Unsecured Debt | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Repurchased Face Amount | $ 3,000 | ||||
Debt Instrument, Repurchase Amount, Including Fees | 3,000 | ||||
Gain (Loss) on Repurchase of Debt Instrument, Including Fees | $ (16.6) | ||||
Operating Segments | Ford Credit | Notes Payable, Other Payables | |||||
Debt Instrument [Line Items] | |||||
Short-term | 14,696 | 14,810 | |||
Operating Segments | Company excluding Ford Credit | |||||
Debt Instrument [Line Items] | |||||
Unamortized (discount)/premium, current | (2) | 2 | |||
Long-term Debt, Current Maturities | 1,212 | 3,175 | |||
Unamortized (discount)/premium, noncurrent | (182) | (188) | |||
Unamortized issuance costs, noncurrent | (194) | (166) | |||
Long-term Debt, Excluding Current Maturities | 19,073 | 17,200 | |||
Debt, Long-term and Short-term, Combined Amount | 20,285 | 20,375 | |||
Short-term Debt, Fair Value | 717 | 209 | |||
Operating Segments | Company excluding Ford Credit | Corporate debt | |||||
Debt Instrument [Line Items] | |||||
Unsecured Debt, Current | 0 | 86 | |||
Unsecured Long-term Debt, Noncurrent | 14,936 | 13,643 | |||
Debt Instrument, Face Amount, green bond and retail bond | 2,400 | ||||
Operating Segments | Company excluding Ford Credit | Corporate debt | Unsecured Debt | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Repurchased Face Amount | 1,100 | ||||
Debt Instrument, Repurchase Amount, Including Fees | 1,200 | ||||
Gain (Loss) on Repurchase of Debt Instrument, Including Fees | 135 | ||||
Operating Segments | Company excluding Ford Credit | Corporate debt | 6.1% Interest Notes | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Face Amount | $ 1,800 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 6.10% | ||||
Operating Segments | Company excluding Ford Credit | Notes Payable, Other Payables | |||||
Debt Instrument [Line Items] | |||||
Other Loans Payable, Current | $ 431 | 348 | |||
Other Loans Payable, Long-term, Noncurrent | 695 | 768 | |||
Operating Segments | Company excluding Ford Credit | Notes Payable, Other Payables | U.S. Department of Energy Advanced Technology Vehicles Manufacturing Incentive Program | |||||
Debt Instrument [Line Items] | |||||
Other Loans Payable, Current | 0 | 953 | |||
Operating Segments | Company excluding Ford Credit | Notes Payable, Other Payables | Delayed Draw Term Loan [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Line of Credit, Noncurrent | 0 | 1,500 | |||
Operating Segments | Company excluding Ford Credit | Notes Payable, Other Payables | U.K. Export Finance Program | |||||
Debt Instrument [Line Items] | |||||
Other Loans Payable, Long-term, Noncurrent | 1,518 | £ 750 | 843 | ||
Debt Instrument, Term | 5 years | ||||
Operating Segments | Company excluding Ford Credit | Notes Payable, Other Payables | |||||
Debt Instrument [Line Items] | |||||
Short-term | 783 | 286 | |||
Fair Value, Nonrecurring [Member] | Level 2 [Member] | Operating Segments | Ford Credit | |||||
Debt Instrument [Line Items] | |||||
Fair Value | 105,177 | 120,204 | |||
Fair Value, Nonrecurring [Member] | Level 2 [Member] | Operating Segments | Company excluding Ford Credit | |||||
Debt Instrument [Line Items] | |||||
Fair Value | $ 18,390 | $ 24,044 |
Debt - Convertible Debt (Detail
Debt - Convertible Debt (Details) - Convertible Debt - Zero Percent Convertible Senior Notes Due 2026 - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Debt Instrument [Line Items] | ||||
Amortization of Debt Issuance Costs | $ 2,000 | $ 2,000 | $ 5,000 | $ 4,000 |
Debt Conversion, Converted Instrument, Amount | $ 1 | |||
Debt Conversion, Converted Instrument, Shares Issued | 58.7365 | |||
Debt Instrument, Convertible, Conversion Price | $ 17.03 | $ 17.03 |
Income Effect of Derivative Fin
Income Effect of Derivative Financial Instruments (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Derivative [Line Items] | |||||
Gain/(Loss) Recognized in Income | $ (427) | $ (71) | $ (719) | $ (82) | |
Held collateral | 225 | 225 | $ 26 | ||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Foreign currency exchange contracts [Member] | |||||
Derivative [Line Items] | |||||
Gain/(Loss) Reclassified from AOCI to Income | (44) | (161) | (224) | (349) | |
Gains/(losses) on derivative instruments | 535 | 225 | 641 | (346) | |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Commodity Contract [Member] | |||||
Derivative [Line Items] | |||||
Gain/(Loss) Reclassified from AOCI to Income | 9 | 50 | 151 | 78 | |
Gains/(losses) on derivative instruments | (90) | 114 | (166) | 294 | |
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Cross-currency interest rate swap contracts [Member] | |||||
Derivative [Line Items] | |||||
Net interest settlements and accruals on hedging instruments | (8) | (2) | (17) | (6) | |
Fair value changes on hedging instruments | (66) | (28) | (164) | (67) | |
Fair value changes on hedged debt | 67 | 25 | 173 | 58 | |
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Interest rate contracts [Member] | |||||
Derivative [Line Items] | |||||
Net interest settlements and accruals on hedging instruments | (39) | 98 | 62 | 299 | |
Fair value changes on hedging instruments | (600) | (142) | (1,922) | (680) | |
Fair value changes on hedged debt | 615 | 135 | 1,991 | 638 | |
Not Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | |||||
Derivative [Line Items] | |||||
Gain/(Loss) Recognized in Income | 44 | 123 | 125 | 209 | |
Not Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | Nonoperating Income (Expense) [Member] | |||||
Derivative [Line Items] | |||||
Gain/(Loss) Recognized in Income | 112 | 79 | 137 | 87 | |
Not Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | Cost of Sales | |||||
Derivative [Line Items] | |||||
Gain/(Loss) Recognized in Income | (68) | 44 | (12) | 122 | |
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | |||||
Derivative [Line Items] | |||||
Gain/(Loss) Recognized in Income | (41) | 25 | (72) | 153 | |
Not Designated as Hedging Instrument [Member] | Cross-currency interest rate swap contracts [Member] | |||||
Derivative [Line Items] | |||||
Gain/(Loss) Recognized in Income | (494) | (194) | (1,164) | (390) | |
Not Designated as Hedging Instrument [Member] | Interest rate contracts [Member] | |||||
Derivative [Line Items] | |||||
Gain/(Loss) Recognized in Income | $ 130 | $ 0 | $ 342 | $ (25) |
Balance Sheet Effect of Derivat
Balance Sheet Effect of Derivative Financial Instruments (Details) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Derivative [Line Items] | ||
Derivative, Notional Amount | $ 107,770 | $ 123,296 |
Derivative Liability, Current | 1,300 | 97 |
Derivative Liability, Noncurrent | 2,300 | 535 |
Held collateral | 225 | 26 |
Posted collateral | 182 | 71 |
Counterparty Netting, Liabilities Not Offset | 527 | 719 |
Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 9,353 | 11,534 |
Designated as Hedging Instrument [Member] | Cross-currency interest rate swap contracts [Member] | Fair Value Hedging [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 885 | 885 |
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Fair Value Hedging [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 19,159 | 23,893 |
Designated as Hedging Instrument [Member] | Commodity Contract [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 1,003 | 931 |
Not Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 19,700 | 28,463 |
Not Designated as Hedging Instrument [Member] | Cross-currency interest rate swap contracts [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 6,583 | 6,533 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 50,195 | 50,060 |
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 892 | 997 |
Fair Value, Recurring | ||
Derivative [Line Items] | ||
Derivative Asset, Current | 1,235 | 924 |
Derivative Asset, Noncurrent | 621 | 666 |
Derivative Asset | 1,856 | 1,590 |
Derivative Liability, Current | 1,815 | 535 |
Derivative Liability, Noncurrent | 2,335 | 535 |
Derivative Liability | 4,150 | 1,070 |
Fair Value, Recurring | Level 2 [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 1,856 | 1,590 |
Fair Value of Liabilities | 4,150 | 1,070 |
Counterparty Netting, Assets Not Offset | 527 | 719 |
Fair Value, Recurring | Level 2 [Member] | Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 539 | 74 |
Fair Value of Liabilities | 28 | 346 |
Fair Value, Recurring | Level 2 [Member] | Designated as Hedging Instrument [Member] | Cross-currency interest rate swap contracts [Member] | Fair Value Hedging [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 0 | 0 |
Fair Value of Liabilities | 220 | 49 |
Fair Value, Recurring | Level 2 [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Fair Value Hedging [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 0 | 544 |
Fair Value of Liabilities | 1,645 | 274 |
Fair Value, Recurring | Level 2 [Member] | Designated as Hedging Instrument [Member] | Commodity Contract [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 8 | 182 |
Fair Value of Liabilities | 128 | 5 |
Fair Value, Recurring | Level 2 [Member] | Not Designated as Hedging Instrument [Member] | Foreign currency exchange contracts [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 351 | 281 |
Fair Value of Liabilities | 315 | 198 |
Fair Value, Recurring | Level 2 [Member] | Not Designated as Hedging Instrument [Member] | Cross-currency interest rate swap contracts [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 10 | 117 |
Fair Value of Liabilities | 1,108 | 61 |
Fair Value, Recurring | Level 2 [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 946 | 338 |
Fair Value of Liabilities | 572 | 126 |
Fair Value, Recurring | Level 2 [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 2 | 54 |
Fair Value of Liabilities | $ 134 | $ 11 |
Employee Separation Actions a_4
Employee Separation Actions and Exit and Disposal Activities Global Redesign (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Operating Segments | Company excluding Ford Credit | ||||
Restructuring Reserve | ||||
Beginning balance | $ 691 | $ 839 | $ 950 | $ 1,732 |
Changes in accruals (a) | 329 | 506 | 445 | 875 |
Payments | (188) | (294) | (539) | (1,551) |
Foreign currency translation | (21) | (51) | (45) | (56) |
Ending balance | 811 | 1,000 | 811 | 1,000 |
Global Redesign | ||||
Restructuring Reserve | ||||
Gain (Loss) on Disposition of Property Plant Equipment | 38 | |||
Restructuring and Related Cost, Incurred Cost | 535 | |||
Global Redesign | Pension Costs | ||||
Restructuring Reserve | ||||
Restructuring Charges | 11 | 22 | 27 | 106 |
Global Redesign | Accelerated depreciation | ||||
Restructuring Reserve | ||||
Restructuring Charges | $ 35 | $ 202 | $ 101 | $ 590 |
Employee Separation Actions a_5
Employee Separation Actions and Exit and Disposal Activities Ford Credit (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2022 USD ($) | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Expected Cost | $ 1,000 |
Ford Credit | Operating Segments | |
Restructuring Cost and Reserve [Line Items] | |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Tax | 155 |
Foreign Currency Translation Adjustment | Operating Segments | Ford Credit | |
Restructuring Cost and Reserve [Line Items] | |
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | $ 223 |
Acquisitions and Divestitures_2
Acquisitions and Divestitures (Details) - USD ($) $ in Millions | 2 Months Ended | 3 Months Ended | 9 Months Ended | 10 Months Ended | 12 Months Ended | |||
Feb. 28, 2022 | Feb. 28, 2021 | Sep. 30, 2022 | Jun. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | Feb. 28, 2022 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Held for sale impairment charges | $ 32 | $ 0 | ||||||
Operating Segments | Company excluding Ford Credit | ||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Sale Leaseback Transaction, Assets and Liabilities Remaining After Sale | $ 100 | 100 | ||||||
Operating Segments | Company excluding Ford Credit | Disposal Group, Held-for-sale, Not Discontinued Operations | ||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment | 89 | $ 89 | ||||||
Held for sale impairment charges | $ 32 | |||||||
Operating Segments | Company excluding Ford Credit | Getrag Ford Transmissions GmbH | ||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value | $ 275 | |||||||
Operating Segments | Company excluding Ford Credit | Ford Lio Ho Motor Co., Ltd. (“FLH”) | ||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | $ 161 | |||||||
Operating Segments | Company excluding Ford Credit | Getrag Ford Transmissions GmbH | ||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Business Combination, Consideration Transferred | $ 275 | |||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | $ 2 | $ 178 | ||||||
Operating Segments | Company excluding Ford Credit | Getrag Ford Transmissions GmbH | Income (Loss) from Equity Method Investments | ||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Equity Method Investment, Realized Gain (Loss) on Disposal | $ 40 |
Discontinued Operations and Dis
Discontinued Operations and Disposal Groups (Details) | Sep. 30, 2022 |
Ford Otosan | |
Schedule of Equity Method Investments [Line Items] | |
Equity Method Investment, Ownership Percentage | 41% |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income/(Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Derivative instruments [Abstract] | |||||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $ 225 | ||||
Pension and other postretirement benefits | |||||
Total AOCI ending balance at September 30 | $ (10,193) | (10,193) | $ (8,339) | ||
Parent Company [Member] | |||||
Foreign currency transaction [Abstract] | |||||
Beginning balance | (6,355) | $ (5,249) | (5,487) | $ (5,526) | |
Gains/(Losses) on foreign currency translation | (996) | (236) | (2,063) | 112 | |
Less: Tax/(Tax benefit) (a) | 36 | 66 | 5 | 133 | |
Net gains/(losses) on foreign currency translation | (1,032) | (302) | (2,068) | (21) | |
(Gains)/Losses reclassified from AOCI to income | 80 | 0 | 248 | (4) | |
Other comprehensive income/(loss), net of tax (c) | (952) | (302) | (1,820) | (25) | |
Ending balance | (7,307) | (5,551) | (7,307) | (5,551) | |
Marketable securities [Abstract] | |||||
Beginning balance | (355) | 81 | (19) | 156 | |
Gains/(Losses) on available for sale securities | (199) | (26) | (647) | (112) | |
Less: Tax/(Tax benefit) | (47) | (6) | (153) | (28) | |
Net gains/(losses) on available for sale securities | (152) | (20) | (494) | (84) | |
(Gains)/Losses reclassified from AOCI to net income | 5 | (3) | 13 | (18) | |
Less: Tax/(Tax benefit) | 1 | 0 | 3 | (4) | |
Net (gains)/losses reclassified from AOCI to net income | 4 | (3) | 10 | (14) | |
Other comprehensive income/(loss), net of tax | (148) | (23) | (484) | (98) | |
Ending balance | (503) | 58 | (503) | 58 | |
Derivative instruments [Abstract] | |||||
Beginning balance | (143) | (455) | (193) | (266) | |
Gains/(losses) on derivative instruments | 445 | 339 | 475 | (52) | |
Less: Tax/(tax benefit) | 105 | 85 | 112 | 8 | |
Net gains/(losses) on derivative instruments | 340 | 254 | 363 | (60) | |
(Gains)/Losses reclassified from AOCI to net income | 35 | 111 | 73 | 271 | |
Less: Tax/(tax benefit) | 8 | 22 | 19 | 57 | |
Net (gains)/losses reclassified to AOCI from net income | 27 | 89 | 54 | 214 | |
Other comprehensive income/(loss), net of tax | 367 | 343 | 417 | 154 | |
Ending balance | 224 | (112) | 224 | (112) | |
Pension and other postretirement benefits | |||||
Beginning balance | (2,620) | (2,645) | (2,640) | (2,658) | |
Amortization of prior service costs/(credits) | 5 | 4 | 17 | 24 | |
Less: Tax/(Tax benefit) | 1 | 4 | 4 | 8 | |
Net prior service costs/(credits) reclassified from AOCI to net income | 4 | 0 | 13 | 16 | |
Translation impact on non-U.S. plans | 9 | 5 | 20 | 2 | |
Other comprehensive income/(loss), net of tax | 13 | 5 | 33 | 18 | |
Ending balance | (2,607) | (2,640) | (2,607) | (2,640) | |
Total AOCI ending balance at September 30 | (10,193) | $ (8,245) | (10,193) | $ (8,245) | |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Noncontrolling Interest | $ 3 | $ (1) |
Variable Interest Entities (Det
Variable Interest Entities (Details) - USD ($) $ in Millions | Sep. 30, 2022 | Jul. 13, 2022 | Dec. 31, 2021 |
BlueOval SK, LLC | |||
Variable Interest Entity [Line Items] | |||
Equity Method Investment, Ownership Percentage | 50% | ||
Equity Method Investment, Aggregate Cost | $ 312 | ||
BlueOval SK, LLC | Maximum | |||
Variable Interest Entity [Line Items] | |||
Committed Capital | $ 6,600 | ||
Variable Interest Entity, Primary Beneficiary | |||
Variable Interest Entity [Line Items] | |||
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | $ 510 | $ 2,800 |
Commitments and Contingencies_3
Commitments and Contingencies (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Warranty [Abstract] | |||
Beginning balance | $ 8,451 | $ 8,172 | |
Payments made during the period | (3,063) | (3,109) | |
Changes in accrual related to warranties issued during the period | 2,806 | 2,819 | |
Changes in accrual related to pre-existing warranties | 449 | 44 | |
Foreign currency translation and other | (241) | (77) | |
Ending balance | 8,402 | $ 7,849 | |
Litigation and Claims | |||
Guarantor Obligations [Line Items] | |||
Loss contingency estimate | 2,000 | ||
Field Service Actions and Customer Satisfaction Actions | |||
Guarantor Obligations [Line Items] | |||
Loss contingency estimate | 700 | ||
Financial Guarantee [Member] | |||
Guarantor Obligations [Line Items] | |||
Maximum potential payments | 395 | $ 357 | |
Carrying value of recorded liabilities related to guarantees and limited indemnities | 15 | 36 | |
Indemnification Agreement [Member] | |||
Guarantor Obligations [Line Items] | |||
Maximum potential payments | 273 | 453 | |
Carrying value of recorded liabilities related to guarantees and limited indemnities | 0 | $ 38 | |
Guarantees to daily rental companies | |||
Guarantor Obligations [Line Items] | |||
Maximum potential payments | 267 | ||
Carrying value of recorded liabilities related to guarantees and limited indemnities | $ 0 |
Segment Information (Details)
Segment Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Segment Information | |||||
Revenues | $ 39,392 | $ 35,683 | $ 114,058 | $ 98,663 | |
Income/(Loss) before income taxes | (1,125) | 1,885 | (4,182) | 6,562 | |
Equity in net income/(loss) of affiliated companies | (2,626) | 130 | (2,601) | 260 | |
Total assets | 246,919 | 252,677 | 246,919 | 252,677 | $ 257,035 |
Operating Segments | Automotive | |||||
Segment Information | |||||
Revenues | 37,194 | 33,211 | 107,214 | 90,893 | |
Income/(Loss) before income taxes | 1,698 | 2,456 | 6,911 | 5,756 | |
Equity in net income/(loss) of affiliated companies | 185 | 185 | 481 | 434 | |
Total assets | 71,983 | 68,291 | 71,983 | 68,291 | |
Operating Segments | Mobility | |||||
Segment Information | |||||
Revenues | 11 | 38 | 120 | 70 | |
Income/(Loss) before income taxes | (244) | (271) | (707) | (688) | |
Equity in net income/(loss) of affiliated companies | (87) | (68) | (245) | (191) | |
Total assets | 415 | 3,471 | 415 | 3,471 | |
Operating Segments | Ford Credit | |||||
Segment Information | |||||
Revenues | 2,187 | 2,434 | 6,724 | 7,700 | |
Income/(Loss) before income taxes | 599 | 1,077 | 2,466 | 3,662 | |
Equity in net income/(loss) of affiliated companies | 8 | 9 | 18 | 23 | |
Total assets | 127,088 | 135,385 | 127,088 | 135,385 | |
Corporate Other | |||||
Segment Information | |||||
Revenues | 0 | 0 | 0 | 0 | |
Income/(Loss) before income taxes | (250) | (269) | (819) | (772) | |
Equity in net income/(loss) of affiliated companies | 0 | 0 | 1 | 1 | |
Total assets | 48,432 | 46,695 | 48,432 | 46,695 | |
Interest on Debt | Adjustments | |||||
Segment Information | |||||
Revenues | 0 | 0 | 0 | 0 | |
Income/(Loss) before income taxes | (321) | (439) | (941) | (1,365) | |
Equity in net income/(loss) of affiliated companies | 0 | 0 | 0 | 0 | |
Total assets | 0 | 0 | 0 | 0 | |
Special Items | Adjustments | |||||
Segment Information | |||||
Revenues | 0 | 0 | 0 | 0 | |
Income/(Loss) before income taxes | (2,607) | (669) | (11,092) | (31) | |
Equity in net income/(loss) of affiliated companies | (2,732) | 4 | (2,856) | (7) | |
Total assets | 0 | 0 | 0 | 0 | |
Adjustments | Adjustments | |||||
Segment Information | |||||
Revenues | 0 | 0 | 0 | 0 | |
Income/(Loss) before income taxes | 0 | 0 | 0 | 0 | |
Equity in net income/(loss) of affiliated companies | 0 | 0 | 0 | 0 | |
Total assets | $ (999) | $ (1,165) | $ (999) | $ (1,165) |