Ford Motor Credit (FCZ) 10-Q 28 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - Jun. 30, 2015 - USD ($) shares in Millions	Total
Entity Registrant Name	FORD MOTOR CREDIT CO LLC
Entity Central Index Key	38,009
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding	0
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float	$ 0
Membership Interests Description	All of the limited liability company interests in the registrant (“Shares”) are held by an affiliate of the registrant. None of the Shares are publicly traded.

Consolidated Income Statement

Consolidated Income Statement - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Financing revenue
Operating leases	$ 1,184	$ 1,001	$ 2,304	$ 1,967
Retail Financing	685	691	1,370	1,387
Dealer Financing	374	424	748	817
Other	14	21	32	42
Total financing revenue	2,257	2,137	4,454	4,213
Depreciation on vehicles subject to operating leases	(858)	(742)	(1,674)	(1,447)
Interest expense	(599)	(673)	(1,237)	(1,339)
Net financing margin	800	722	1,543	1,427
Other revenue
Insurance premiums earned	34	31	65	63
Other income, net (Note 11)	47	66	101	117
Total financing margin and other revenue	881	819	1,709	1,607
Expenses
Operating expenses	269	281	541	531
Provision for credit losses	72	27	139	58
Insurance expenses	34	77	40	85
Total expenses	375	385	720	674
Income before income taxes	506	434	989	933
Provision for income taxes	166	170	343	357
Net income	$ 340	$ 264	$ 646	$ 576

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net income	$ 340	$ 264	$ 646	$ 576
Other comprehensive income/(loss), net of tax (Note 10)
Foreign currency translation	196	85	(286)	3
Total other comprehensive income/(loss), net of tax	196	85	(286)	3
Comprehensive income (loss)	536	349	360	579
Comprehensive income (loss) attributable to noncontrolling interest	0	0	1	0
Comprehensive income (loss) attributable to Ford Motor Credit Company	$ 536	$ 349	$ 359	$ 579

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
ASSETS
Cash and cash equivalents	$ 6,767	$ 6,179
Marketable securities	3,806	3,258
Finance receivables, net (Note 2)	89,543	86,915
Net investment in operating leases (Note 3)	23,383	21,518
Notes and accounts receivable from affiliated companies	711	778
Derivative financial instruments (Note 7)	823	859
Other assets (Note 8)	2,566	2,601
Total assets	127,599	122,108
Liabilities
Customer deposits, dealer reserves, and other	1,204	1,148
Affiliated companies	608	330
Total accounts payable	1,812	1,478
Debt (Note 9)	109,521	105,037
Deferred income taxes	2,527	1,849
Derivative financial instruments (Note 7)	378	167
Other liabilities and deferred income (Note 8)	1,662	2,210
Total liabilities	115,900	110,741
Shareholder's interest
Shareholder's interest	5,227	5,227
Accumulated other comprehensive income (Note 10)	(127)	160
Retained earnings	6,598	5,980
Total shareholder's interest attributable to Ford Motor Credit Company	11,698	11,367
Shareholder's Interest Attributable to Noncontrolling Interest	1	0
Total Shareholder's Interest	11,699	11,367
Total liabilities and shareholder's interest	127,599	122,108
Variable Interest Entity, Primary Beneficiary [Member]
ASSETS
Cash and cash equivalents	2,355	2,094
Finance receivables, net (Note 2)	43,563	39,522
Net investment in operating leases (Note 3)	11,878	9,631
Derivative financial instruments (Note 7)	55	27
Liabilities
Debt (Note 9)	40,595	37,156
Derivative financial instruments (Note 7)	$ 30	$ 22

Consolidated Statement of Share

Consolidated Statement of Shareholder's Interest - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Shareholder's Interest [Roll Forward]
Balance at beginning of period			$ 11,367	$ 10,604
Net income	$ 340	$ 264	646	576
Net Income (Loss) Attributable to Noncontrolling Interest			0	0
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest			646	576
Other Comprehensive Income (Loss), Net of Tax	196	85	(286)	3
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest			1	0
Distributions			(28)	(28)
Balance at end of period	11,698	11,155	11,698	11,155
Shareholder's Interest Attributable to Noncontrolling Interest	1	0	1	0
Total Shareholder's Interest	11,699	11,155	11,699	11,155
Shareholder's Interest [Member]
Shareholder's Interest [Roll Forward]
Balance at beginning of period			5,227	5,217
Net income			0	0
Other Comprehensive Income (Loss), Net of Tax			0	0
Distributions			0	0
Balance at end of period	5,227	5,217	5,227	5,217
Accumulated Other Comprehensive Income/(Loss) (Note10) [Member]
Shareholder's Interest [Roll Forward]
Balance at beginning of period			160	717
Net income			0	0
Other Comprehensive Income (Loss), Net of Tax	196	85	(287)	3
Distributions			0	0
Balance at end of period	(127)	720	(127)	720
Retained Earnings [Member]
Shareholder's Interest [Roll Forward]
Balance at beginning of period			5,980	4,670
Net income			646	576
Other Comprehensive Income (Loss), Net of Tax			0	0
Distributions			(28)	(28)
Balance at end of period	$ 6,598	$ 5,218	6,598	5,218
Parent [Member]
Shareholder's Interest [Roll Forward]
Other Comprehensive Income (Loss), Net of Tax			(287)	3
Distributions			(28)	(28)
Noncontrolling Interest [Member]
Shareholder's Interest [Roll Forward]
Distributions			$ 0	$ 0

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities
Net income	$ 646	$ 576
Adjustments to reconcile net income/(loss) to net cash provided by operations
Provision for credit losses	139	58
Depreciation and amortization	2,088	1,842
Amortization of upfront interest supplements	(515)	(498)
Net change in deferred income taxes	696	238
Net change in other assets	(67)	292
Net change in other liabilities	(147)	(36)
All other operating activities	29	(17)
Net cash provided by/(used in) operating activities	2,869	2,455
Cash flows from investing activities
Purchases of finance receivables (excluding wholesale and other)	(18,208)	(16,684)
Collections of finance receivables (excluding wholesale and other)	15,625	15,029
Purchases of operating lease vehicles	(6,882)	(6,357)
Liquidations of operating lease vehicles	3,219	3,246
Net change in wholesale receivables and other	(1,251)	(3,129)
Net change in notes receivable from affiliated companies	(1)	30
Purchases of marketable securities	(6,699)	(7,003)
Proceeds from sales and maturities of marketable securities	6,143	5,898
Settlements of derivatives	163	(62)
All other investing activities	40	44
Net cash provided by/(used in) investing activities	(7,851)	(8,988)
Cash flows from financing activities
Proceeds from issuances of long-term debt	24,331	22,655
Principal payments on long-term debt	(18,781)	(15,228)
Change in short-term debt, net	288	(3,393)
Cash distributions to parent	(28)	(28)
All other financing activities	(56)	(66)
Net cash provided by/(used in) financing activities	5,754	3,940
Effect of exchange rate changes on cash and cash equivalents	(184)	(6)
Net increase/(decrease) in cash and cash equivalents	588	(2,599)
Cash and cash equivalents at January 1	6,179	9,424
Net increase/(decrease) in cash and cash equivalents	588	(2,599)
Cash and cash equivalents at June 30	$ 6,767	$ 6,825

Accounting Policies

Accounting Policies	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
ACCOUNTING POLICIES	ACCOUNTING POLICIES Principles of Consolidation The consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information, and instructions to the Quarterly Report on Form 10-Q and Rule 10-01 of Regulation S-X. In the opinion of management, these unaudited financial statements include all adjustments considered necessary for a fair statement of the results of operations and financial condition for interim periods for Ford Motor Credit Company LLC, its consolidated subsidiaries and consolidated VIEs in which Ford Motor Credit Company LLC is the primary beneficiary (collectively referred to herein as “Ford Credit,” “we,” “our,” or “us”). Results for interim periods should not be considered indicative of results for any other interim period or for the full year. Reference should be made to the financial statements contained in our Annual Report on Form 10-K for the year ended December 31, 2014 (“2014 Form 10-K Report”). We are an indirect, wholly owned subsidiary of Ford Motor Company (“Ford”). We reclassified certain prior period amounts in our consolidated financial statements to conform to current year presentation. Provision for Income Taxes For interim tax reporting we estimate one single effective tax rate, which is applied to the year-to-date ordinary income/(loss). Tax effects of significant unusual or extraordinary items are excluded from the estimated annual effective tax rate calculation and recognized in the interim period in which they occur. Adoption of New Accounting Standards Accounting Standards Update (“ASU”) 2014-11, Transfers and Servicing - Repurchase-to-Maturity Transactions, Repurchase Financings and Disclosures. On January 1, 2015, we adopted the new accounting standard that changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements. The new standard also requires additional disclosures for certain transfers of financial assets with agreements that both entitle and obligate the transferor to repurchase the transferred assets from the transferee. The adoption of this accounting standard did not impact our financial statements or financial statement disclosures. Accounting Standards Issued But Not Yet Adopted ASU 2014-09, Revenue - Revenue from Contracts with Customers. In May 2014, the Financial Accounting Standards Board (“FASB”) issued a new accounting standard that requires recognition of revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. The new standard supersedes virtually all present U.S. GAAP guidance on revenue recognition and requires the use of more estimates and judgments than the present standards, as well as additional disclosures. The FASB has voted to approve a one-year deferral of the effective date from January 1, 2017 to January 1, 2018, while allowing for early adoption as of January 1, 2017. The new accounting standard is expected to have an impact to our income statement, balance sheet, and financial statement disclosures and we are reviewing our arrangements to evaluate the impact and method of adoption. NOTE 1. ACCOUNTING POLICIES (Continued) The FASB also issued the following standards, none of which are expected to have a material impact to our financial statements or financial statement disclosures. Standard Effective Date 2015-09 Insurance - Disclosures about Short-Duration Contracts January 1, 2016 2015-07 Fair Value Measurement - Disclosures for Investments in Certain Entities that Calculate Net Asset Value per Share (or Its Equivalent) January 1, 2016 2015-05 Internal-Use Software - Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement January 1, 2016 2015-03 Imputation of Interest - Simplifying the Presentation of Debt Issuance Costs January 1, 2016 2015-02 Consolidation - Amendments to the Consolidation Analysis January 1, 2016 2015-01 Extraordinary and Unusual Items - Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items January 1, 2016 2014-16 Derivatives and Hedging - Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity January 1, 2016 2014-13 Consolidation - Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity January 1, 2016 2014-12 Stock Compensation - Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period January 1, 2016 2014-15 Going Concern - Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern December 31, 2016 2015-11 Inventory - Simplifying the Measurement of Inventory January 1, 2017

Finance Receivables

Finance Receivables	6 Months Ended
	Jun. 30, 2015
Receivables [Abstract]
Financing Receivables	FINANCE RECEIVABLES We segment finance receivables into “consumer” and “non-consumer” receivables. The receivables are generally secured by the vehicles, inventory, or other property being financed. Finance receivables, net were as follows (in millions): June 30, December 31, Consumer Retail financing, gross (a) $ 57,646 $ 55,856 Less: Unearned interest supplements (b) (1,739 ) (1,760 ) Consumer finance receivables 55,907 54,096 Non-Consumer Dealer financing (a)(c) 32,757 31,875 Other financing 1,214 1,265 Non-Consumer finance receivables 33,971 33,140 Total recorded investment (d) $ 89,878 $ 87,236 Recorded investment in finance receivables (d) $ 89,878 $ 87,236 Less: Allowance for credit losses (e) (335 ) (321 ) Finance receivables, net $ 89,543 $ 86,915 Net finance receivables subject to fair value (f) $ 87,773 $ 85,242 Fair value 89,062 86,715 __________ (a) At June 30, 2015 and December 31, 2014 , includes consumer receivables of $26.9 billion and $24.4 billion , respectively, and non-consumer receivables of $23.1 billion and $21.8 billion , respectively, that have been sold for legal purposes in securitization transactions but continue to be reported in our consolidated financial statements. The receivables are available only for payment of the debt issued by, and other obligations of, the securitization entities that are parties to those securitization transactions; they are not available to pay our other obligations or the claims of our other creditors. We hold the right to receive the excess cash flows not needed to pay the debt issued by, and other obligations of, the securitization entities that are parties to those securitization transactions. See Note 5 for additional information. (b) Ford-sponsored special financing programs attributable to retail financing. (c) At June 30, 2015 and December 31, 2014 , includes $664 million and $535 million , respectively, of dealer financing receivables with entities (primarily dealers) that are reported as consolidated subsidiaries of Ford. The associated vehicles that are being financed by us are reported as inventory on Ford’s balance sheet. (d) At June 30, 2015 and December 31, 2014 , excludes $185 million and $192 million , respectively, of accrued uncollected interest, which we report in Other assets on our balance sheet. (e) See Note 4 for additional information related to our allowance for credit losses. (f) At June 30, 2015 and December 31, 2014 , excludes $1.8 billion and $1.7 billion , respectively, of certain receivables (primarily direct financing leases) that are not subject to fair value disclosure requirements. NOTE 2. FINANCE RECEIVABLES (Continued) Aging For all finance receivables, we define “past due” as any payment, including principal and interest, that is at least 31 days past the contractual due date . The recorded investment of consumer receivables greater than 90 days past due and still accruing interest was $13 million and $17 million at June 30, 2015 and December 31, 2014 , respectively. The recorded investment of non-consumer receivables greater than 90 days past due and still accruing interest was $1 million and $3 million at June 30, 2015 and December 31, 2014 , respectively. The aging analysis of finance receivables balances was as follows (in millions): June 30, December 31, Consumer 31-60 days past due $ 566 $ 718 61-90 days past due 85 97 91-120 days past due 23 29 Greater than 120 days past due 39 52 Total past due 713 896 Current 55,194 53,200 Consumer finance receivables 55,907 54,096 Non-Consumer Total past due 110 117 Current 33,861 33,023 Non-Consumer finance receivables 33,971 33,140 Total recorded investment $ 89,878 $ 87,236 Credit Quality Consumer Segment Credit quality ratings for consumer receivables are based on our aging analysis. Refer to the aging table above. Consumer receivables credit quality ratings are as follows: • Pass – current to 60 days past due • Special Mention – 61 to 120 days past due and in intensified collection status • Substandard – greater than 120 days past due and for which the uncollectible portion of the receivables has already been charged off, as measured using the fair value of collateral Non-Consumer Segment Dealers are assigned to one of four groups according to risk ratings as follows: • Group I – strong to superior financial metrics • Group II – fair to favorable financial metrics • Group III – marginal to weak financial metrics • Group IV – poor financial metrics, including dealers classified as uncollectible NOTE 2. FINANCE RECEIVABLES (Continued) The credit quality analysis of our dealer financing receivables was as follows (in millions): June 30, December 31, Dealer financing Group I $ 24,738 $ 23,641 Group II 6,510 6,360 Group III 1,406 1,787 Group IV 103 87 Total recorded investment $ 32,757 $ 31,875 Other financing receivables are excluded from our credit quality reporting since the performance of this group of receivables is generally guaranteed by Ford. Impaired Receivables Impaired consumer receivables include accounts that have been rewritten or modified in reorganization proceedings pursuant to the U.S. Bankruptcy Code that are considered to be Troubled Debt Restructurings (“TDRs”), as well as all accounts greater than 120 days past due . Impaired non-consumer receivables represent accounts with dealers that have weak or poor financial metrics or dealer financing that has been modified in TDRs. The recorded investment of consumer receivables that were impaired at June 30, 2015 and December 31, 2014 was $380 million , or 0.7% of consumer receivables, and $415 million , or 0.8% of consumer receivables, respectively. The recorded investment of non-consumer receivables that were impaired at June 30, 2015 and December 31, 2014 was $126 million , or 0.4% of non-consumer receivables, and $110 million , or 0.3% of non-consumer receivables, respectively. Impaired finance receivables are evaluated both collectively and specifically. The accrual of revenue is discontinued at the time a receivable is determined to be uncollectible. Accounts may be restored to accrual status only when a customer settles all past-due deficiency balances and future payments are reasonably assured. For receivables in non-accrual status, subsequent financing revenue is recognized only to the extent a payment is received. Payments are generally applied first to outstanding interest and then to the unpaid principal balance. A restructuring of debt constitutes a TDR if we grant a concession to a debtor for economic or legal reasons related to the debtor’s financial difficulties that we otherwise would not consider. Consumer and non-consumer receivables that have a modified interest rate below market rate or that were modified in reorganization proceedings pursuant to the U.S. Bankruptcy Code, except non-consumer receivables that are current with minimal risk of loss, are considered to be TDRs. We do not grant concessions on the principal balance of our receivables. If a receivable is modified in a reorganization proceeding, all payment requirements of the reorganization plan need to be met before remaining balances are forgiven. Finance receivables involved in TDRs are specifically assessed for impairment.

Net Investment in Operating Lea

Net Investment in Operating Leases	6 Months Ended
	Jun. 30, 2015
Leases, Operating [Abstract]
NET INVESTMENT IN OPERATING LEASES	NET INVESTMENT IN OPERATING LEASES Net investment in operating leases consist primarily of lease contracts for vehicles with retail customers, daily rental companies, government entities, and fleet customers with terms of 60 months or less . Net investment in operating leases were as follows (in millions): June 30, December 31, Vehicles, at cost, including acquisition costs $ 27,326 $ 24,952 Less: Accumulated depreciation (3,898 ) (3,396 ) Net investment in operating leases before allowance for credit losses (a) 23,428 21,556 Less: Allowance for credit losses (45 ) (38 ) Net investment in operating leases $ 23,383 $ 21,518 __________ (a) At June 30, 2015 and December 31, 2014 , includes net investment in operating leases of $11.9 billion and $9.6 billion , respectively, that have been included in securitization transactions but continue to be reported in our consolidated financial statements. These net investment in operating leases 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 our other obligations or the claims of our other creditors. We hold the right to receive the excess cash flows not needed to pay the debt issued by, and other obligations of, the securitization entities that are parties to those securitization transactions. See Note 5 for additional information.

Allowance for Credit Losses

Allowance for Credit Losses	6 Months Ended
	Jun. 30, 2015
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
ALLOWANCE FOR CREDIT LOSSES	ALLOWANCE FOR CREDIT LOSSES An analysis of the allowance for credit losses related to finance receivables and net investment in operating leases for the periods ended June 30 (in millions) was as follows: Second Quarter 2015 Finance Receivables Net Investment in Operating Leases Total Allowance Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 301 $ 13 $ 314 $ 41 $ 355 Charge-offs (70 ) (2 ) (72 ) (26 ) (98 ) Recoveries 31 1 32 16 48 Provision for credit losses 57 — 57 15 72 Other (a) 3 1 4 (1 ) 3 Ending balance $ 322 $ 13 $ 335 $ 45 $ 380 First Half 2015 Finance Receivables Net Investment in Operating Leases Total Allowance Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 305 $ 16 $ 321 $ 38 $ 359 Charge-offs (150 ) (1 ) (151 ) (56 ) (207 ) Recoveries 61 3 64 31 95 Provision for credit losses 110 (4 ) 106 33 139 Other (a) (4 ) (1 ) (5 ) (1 ) (6 ) Ending balance $ 322 $ 13 $ 335 $ 45 $ 380 Analysis of ending balance of allowance for credit losses Collective impairment allowance $ 303 $ 13 $ 316 $ 45 $ 361 Specific impairment allowance 19 — 19 — 19 Ending balance 322 13 335 45 $ 380 Analysis of ending balance of finance receivables and net investment in operating leases Collectively evaluated for impairment 55,527 33,845 89,372 23,428 Specifically evaluated for impairment 380 126 506 — Recorded investment 55,907 33,971 89,878 23,428 Ending balance, net of allowance for credit losses $ 55,585 $ 33,958 $ 89,543 $ 23,383 __________ (a) Primarily represents amounts related to translation adjustments. NOTE 4. ALLOWANCE FOR CREDIT LOSSES (Continued) Second Quarter 2014 Finance Receivables Net Investment in Operating Leases Total Allowance Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 307 $ 27 $ 334 $ 24 $ 358 Charge-offs (57 ) (3 ) (60 ) (26 ) (86 ) Recoveries 34 1 35 18 53 Provision for credit losses 17 — 17 10 27 Other (a) 2 (1 ) 1 — 1 Ending balance $ 303 $ 24 $ 327 $ 26 $ 353 First Half 2014 Finance Receivables Net Investment in Operating Leases Total Allowance Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 327 $ 30 $ 357 $ 23 $ 380 Charge-offs (132 ) (5 ) (137 ) (54 ) (191 ) Recoveries 68 6 74 32 106 Provision for credit losses 40 (7 ) 33 25 58 Other (a) — — — — — Ending balance $ 303 $ 24 $ 327 $ 26 $ 353 Analysis of ending balance of allowance for credit losses Collective impairment allowance $ 281 $ 23 $ 304 $ 26 $ 330 Specific impairment allowance 22 1 23 — 23 Ending balance 303 24 327 26 $ 353 Analysis of ending balance of finance receivables and net investment in operating leases Collectively evaluated for impairment 51,505 34,951 86,456 19,901 Specifically evaluated for impairment 419 170 589 — Recorded investment 51,924 35,121 87,045 19,901 Ending balance, net of allowance for credit losses $ 51,621 $ 35,097 $ 86,718 $ 19,875 __________ (a) Primarily represents amounts related to translation adjustments.

Transfers of Receivables

Transfers of Receivables	6 Months Ended
	Jun. 30, 2015
Transfers and Servicing [Abstract]
TRANSFERS OF RECEIVABLES	TRANSFERS OF RECEIVABLES We securitize finance receivables and net investment in operating leases through a variety of programs using amortizing, variable funding, and revolving structures. We also sell finance receivables in structured financing transactions. Due to the similarities between securitization and structured financing, we refer to structured financings as securitization transactions. Our securitization programs are targeted to institutional investors in both public and private transactions in capital markets including the United States, Canada, several European countries, Mexico, and China. We engage in securitization transactions to fund operations and to maintain liquidity. Our securitization transactions are recorded as asset-backed debt and the associated assets are not derecognized and continue to be included in our financial statements. The finance receivables sold for legal purposes and net investment in operating leases included in securitization transactions 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 our other obligations or the claims of our other creditors. We hold the right to receive the excess cash flows not needed to pay the debt issued by, and other obligations of, the securitization entities that are parties to those securitization transactions. The debt is the obligation of our consolidated securitization entities and not the obligation of Ford Credit or our other subsidiaries. Most of these securitization transactions utilize VIEs. See Note 6 for more information concerning VIEs. The following tables show the assets and debt related to our securitization transactions that were included in our financial statements (in billions): June 30, 2015 Cash and Cash Equivalents Finance Receivables and Net Investment in Operating Leases (a) Related Debt Before Allowance for Credit Losses Allowance for Credit Losses After Allowance for Credit Losses VIE (b) Retail financing $ 1.5 $ 21.3 $ 0.1 $ 21.2 $ 19.5 Wholesale financing 0.3 22.4 — 22.4 13.2 Finance receivables 1.8 43.7 0.1 43.6 32.7 Net investment in operating leases 0.6 11.9 — 11.9 7.9 Total VIE $ 2.4 $ 55.6 $ 0.1 $ 55.5 $ 40.6 Non-VIE Retail financing $ 0.3 $ 5.6 $ — $ 5.6 $ 5.2 Wholesale financing — 0.7 — 0.7 0.7 Finance receivables 0.3 6.3 — 6.3 5.9 Net investment in operating leases — — — — — Total Non-VIE $ 0.3 $ 6.3 $ — $ 6.3 $ 5.9 Total securitization transactions Retail financing $ 1.8 $ 26.9 $ 0.1 $ 26.8 $ 24.7 Wholesale financing 0.3 23.1 — 23.1 13.9 Finance receivables 2.1 50.0 0.1 49.9 38.6 Net investment in operating leases 0.6 11.9 — 11.9 7.9 Total securitization transactions $ 2.7 $ 61.9 $ 0.1 $ 61.8 $ 46.5 __________ (a) Unearned interest supplements and residual support are excluded from securitization transactions. (b) Includes assets to be used to settle the liabilities of the consolidated VIEs. NOTE 5. TRANSFERS OF RECEIVABLES (Continued) December 31, 2014 Cash and Cash Equivalents Finance Receivables and Net Investment in Operating Leases (a) Related Debt Before Allowance for Credit Losses Allowance for Credit Losses After Allowance for Credit Losses VIE (b) Retail financing $ 1.4 $ 18.8 $ 0.1 $ 18.7 $ 17.3 Wholesale financing 0.3 20.8 — 20.8 13.3 Finance receivables 1.7 39.6 0.1 39.5 30.6 Net investment in operating leases 0.4 9.6 — 9.6 6.6 Total VIE $ 2.1 $ 49.2 $ 0.1 $ 49.1 $ 37.2 Non-VIE Retail financing $ 0.3 $ 5.6 $ — $ 5.6 $ 5.2 Wholesale financing — 1.0 — 1.0 0.9 Finance receivables 0.3 6.6 — 6.6 6.1 Net investment in operating leases — — — — — Total Non-VIE $ 0.3 $ 6.6 $ — $ 6.6 $ 6.1 Total securitization transactions Retail financing $ 1.7 $ 24.4 $ 0.1 $ 24.3 $ 22.5 Wholesale financing 0.3 21.8 — 21.8 14.2 Finance receivables 2.0 46.2 0.1 46.1 36.7 Net investment in operating leases 0.4 9.6 — 9.6 6.6 Total securitization transactions $ 2.4 $ 55.8 $ 0.1 $ 55.7 $ 43.3 __________ (a) Unearned interest supplements and residual support are excluded from securitization transactions. (b) Includes assets to be used to settle the liabilities of the consolidated VIEs.

Variable Interest Entities

Variable Interest Entities	6 Months Ended
	Jun. 30, 2015
Variable Interest Entities [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES VIEs of Which We Are the Primary Beneficiary We use special purpose entities to issue asset-backed securities in transactions to public and private investors, bank conduits, and government-sponsored entities or others who obtain funding from government programs. We have deemed most of these special purpose entities to be VIEs as we have determined we have both the power to direct the activities of the entity that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive benefits of the entity that could be significant. The asset-backed securities are backed by finance receivables and interests in net investments in operating leases. The assets continue to be consolidated by us. We retain interests in our securitization VIEs, including subordinated securities issued by the VIEs, rights to cash held for the benefit of the securitization investors, and rights to receive the excess cash flows not needed to pay the debt issued by, and other obligations of, the securitization entities that are parties to those securitization transactions. NOTE 6. VARIABLE INTEREST ENTITIES (Continued) We have no obligation to repurchase or replace any securitized asset that subsequently becomes delinquent in payment or otherwise is in default, except when representations and warranties about the eligibility of the securitized assets are breached, or when certain changes are made to the underlying asset contracts. Securitization investors have no recourse to us or our other assets and have no right to require us to repurchase the investments. We generally have no obligation to provide liquidity or contribute cash or additional assets to the VIEs and do not guarantee any asset-backed securities. We may be required to support the performance of certain securitization transactions, however, by increasing cash reserves. See Note 5 for information on the financial position and financial performance of our VIEs. VIEs of Which We Are Not the Primary Beneficiary We have an investment in Forso Nordic AB, a joint venture determined to be a VIE of which we are not the primary beneficiary. The joint venture provides retail and dealer financing in its local markets and is financed by external debt and additional subordinated debt provided by the joint venture partner. The operating agreement indicates that the power to direct economically significant activities is shared with the joint venture partner, and the obligation to absorb losses or right to receive benefits resides primarily with the joint venture partner. Our investment in the joint venture is accounted for as an equity method investment and is included in Other assets. Our maximum exposure to any potential losses associated with this VIE is limited to our equity investment and amounted to $64 million and $66 million at June 30, 2015 and December 31, 2014 , respectively.

Derivative Financial Instrument

Derivative Financial Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES In the normal course of business, our operations are exposed to global market risks, including the effect of changes in interest rates and foreign currency exchange rates. To manage these risks, we enter into highly effective derivative contracts. We have elected to apply hedge accounting to certain derivatives. Derivatives that are designated in hedging relationships are evaluated for effectiveness using regression analysis at the time they are designated and throughout the hedge period. Some derivatives do not qualify for hedge accounting; for others, we elect not to apply hedge accounting. Income Effect of Derivative Financial Instruments The gains/(losses), by hedge designation, recorded in income for the periods ended June 30 were as follows (in millions): Second Quarter First Half 2015 2014 2015 2014 Fair value hedges Interest rate contracts Net interest settlements and accruals excluded from the assessment of hedge effectiveness $ 89 $ 72 $ 177 $ 141 Ineffectiveness (a) (10 ) 5 (4 ) 10 Derivatives not designated as hedging instruments Interest rate contracts (18 ) (9 ) (61 ) (27 ) Foreign currency exchange contracts (65 ) (25 ) — (30 ) Cross-currency interest rate swap contracts (77 ) (11 ) 12 (16 ) Total $ (81 ) $ 32 $ 124 $ 78 __________ (a) For the second quarter and first half of 2015, hedge ineffectiveness reflects the net change in fair value on derivatives of $249 million loss and $28 million loss, respectively, and change in value on hedged debt attributable to the change in benchmark interest rates of $239 million gain and $24 million gain, respectively. For the second quarter and first half of 2014, hedge ineffectiveness reflects the net change in fair value on derivatives of $ 162 million gain and $267 million gain, respectively, and change in value on hedged debt attributable to the change in benchmark interest rates of $157 million loss and $257 million loss, respectively. NOTE 7. DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Continued) Balance Sheet Effect of Derivative Financial Instruments Derivative financial instruments are recorded on the balance sheet at fair value, presented on a gross basis, and include an adjustment for non-performance risk. Notional amounts are presented on a gross basis. The notional amounts of the derivative financial instruments do not necessarily represent amounts exchanged by the parties and, therefore, are not a direct measure of our financial risk exposure. We enter into master agreements with counterparties that may allow for netting of exposure in the event of default or termination of the counterparty agreement due to breach of contract. The notional amount and estimated fair value of our derivative financial instruments were as follows (in millions): June 30, 2015 December 31, 2014 Notional Fair Value of Assets Fair Value of Liabilities Notional Fair Value of Assets Fair Value of Liabilities Fair value hedges Interest rate contracts $ 24,202 $ 572 $ 38 $ 23,203 $ 602 $ 38 Derivatives not designated as hedging instruments Interest rate contracts 57,897 157 132 56,558 168 89 Foreign currency exchange contracts (a) 1,265 — 41 1,527 18 1 Cross-currency interest rate swap contracts 2,403 94 167 2,425 71 39 Total derivative financial instruments, gross $ 85,767 823 378 $ 83,713 859 167 Counterparty netting and collateral (b) (161 ) (161 ) (136 ) (136 ) Total derivative financial instruments, net $ 662 $ 217 $ 723 $ 31 __________ (a) Includes forward contracts between Ford Credit and an affiliated company. (b) At June 30, 2015 and December 31, 2014 , we did not receive or pledge any cash collateral.

Other Assets and Other Liabilit

Other Assets and Other Liabilities and Deferred Income	6 Months Ended
	Jun. 30, 2015
Other Assets and Other Liabilities and Deferred Income [Abstract]
OTHER ASSETS AND OTHER LIABILITIES AND DEFERRED INCOME	OTHER ASSETS AND OTHER LIABILITIES AND DEFERRED INCOME Other assets and other liabilities and deferred income consist of various balance sheet items that are combined for financial statement presentation due to their respective materiality compared with other individual asset and liability items. Other assets were as follows (in millions): June 30, December 31, Accrued interest and other non-finance receivables $ 924 $ 921 Collateral held for resale, at net realizable value 347 382 Restricted cash (a) 74 130 Deferred charges 280 268 Deferred charges – income taxes 177 185 Prepaid reinsurance premiums and other reinsurance receivables 435 401 Investment in non-consolidated affiliates 146 141 Property and equipment, net of accumulated depreciation (b) 127 120 Other 56 53 Total other assets $ 2,566 $ 2,601 __________ (a) Restricted cash primarily includes cash held to meet certain local governmental and regulatory reserve requirements and cash held under the terms of certain contractual agreements. Restricted cash does not include required minimum balances or cash securing debt issued through securitization transactions. (b) Accumulated depreciation was $333 million and $326 million at June 30, 2015 and December 31, 2014 , respectively. Other liabilities and deferred income were as follows (in millions): June 30, December 31, Interest payable $ 526 $ 587 Tax related payables to Ford and affiliated companies 139 625 Unrecognized tax benefits 97 91 Unearned insurance premiums 447 410 Other 453 497 Total other liabilities and deferred income $ 1,662 $ 2,210

Debt

Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	DEBT Interest rates and debt outstanding were as follows (in millions): Interest Rates Debt Average Contractual Average Effective June 30, December 31, 2015 2014 2015 2014 Short-term debt Unsecured debt Floating rate demand notes $ 5,651 $ 5,559 Commercial paper 1,813 1,651 Other short-term debt 2,370 2,564 Asset-backed debt 1,583 1,377 Total short-term debt 11,417 11,151 1.7 % 1.9 % 1.8 % 1.9 % Long-term debt Unsecured debt Notes payable within one year 8,581 9,102 Notes payable after one year 44,238 42,488 Asset-backed debt (a) Notes payable within one year 17,354 16,722 Notes payable after one year 27,591 25,197 Unamortized discount (41 ) (51 ) Fair value adjustments (b) 381 428 Total long-term debt 98,104 93,886 2.4 % 2.7 % 2.5 % 2.8 % Total debt $ 109,521 $ 105,037 2.3 % 2.6 % 2.4 % 2.7 % Fair value of debt (c) $ 111,119 $ 107,190 __________ (a) Asset-backed debt issued in securitizations is the obligation of the consolidated securitization entity that issued the debt and is payable only out of collections on the underlying securitized assets and related enhancements. This asset-backed debt is not the obligation of Ford Credit or our other subsidiaries. (b) Adjustments related to designated fair value hedges of unsecured debt. (c) The fair value of debt includes $9.8 billion and $9.8 billion of short-term debt at June 30, 2015 and December 31, 2014, respectively, carried at cost, which approximates fair value. All debt is categorized within Level 2 of the fair value hierarchy.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME The changes in the balance of Accumulated Other Comprehensive Income (“AOCI”) attributable to Ford Credit for the periods ended June 30 were as follows (in millions): Second Quarter First Half 2015 2014 2015 2014 Foreign currency translation Beginning balance $ (323 ) $ 635 $ 160 $ 717 Net gain/(loss) on foreign currency translation 196 85 (287 ) 3 Other comprehensive income/(loss), net of tax 196 85 (287 ) 3 Ending balance $ (127 ) $ 720 $ (127 ) $ 720 Total AOCI ending balance at June 30 $ (127 ) $ 720 $ (127 ) $ 720

Other Income

Other Income	6 Months Ended
	Jun. 30, 2015
Other Income and Expenses [Abstract]
OTHER INCOME	OTHER INCOME Other income consists of various line items that are combined on the income statement due to their respective materiality compared with other individual income and expense items. The amounts included in Other income, net were as follows for the periods ended June 30 (in millions): Second Quarter First Half 2015 2014 2015 2014 Gains/(Losses) on derivatives $ (170 ) $ (40 ) $ (55 ) $ (63 ) Currency revaluation gains/(losses) 140 31 (11 ) 38 Interest and investment income 20 15 45 29 Insurance fee income 22 15 38 41 Other 35 45 84 72 Total other income, net $ 47 $ 66 $ 101 $ 117

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Cash equivalents, marketable securities, and derivative financial instruments are remeasured and presented on our financial statements on a recurring basis at fair value, while other assets and liabilities are measured at fair value on a nonrecurring basis, such as when we have an asset impairment. We did not have any material nonrecurring fair value items. There have been no changes to the types of inputs used or valuation techniques since year end. Input Hierarchy of Items Measured at Fair Value on a Recurring Basis The following table categorizes the fair values of items measured at fair value on a recurring basis on our balance sheet, none of which are Level 3 (in millions): June 30, 2015 December 31, 2014 Level 1 Level 2 Total Level 1 Level 2 Total Assets Cash equivalents-financial instruments Non-U.S. government and agencies $ — $ 419 $ 419 $ — $ 341 $ 341 Corporate debt — 50 50 — 10 10 Total cash equivalents-financial instruments (a) — 469 469 — 351 351 Marketable securities U.S. government and agencies 669 700 1,369 17 1,251 1,268 Non-U.S. government and agencies — 630 630 — 405 405 Corporate debt — 1,780 1,780 — 1,555 1,555 Other marketable securities — 27 27 — 30 30 Total marketable securities 669 3,137 3,806 17 3,241 3,258 Derivative financial instruments Derivative financial instruments (b) — 823 823 — 859 859 Total assets at fair value $ 669 $ 4,429 $ 5,098 $ 17 $ 4,451 $ 4,468 Liabilities Derivative financial instruments (b) $ — $ 378 $ 378 $ — $ 167 $ 167 Total liabilities at fair value $ — $ 378 $ 378 $ — $ 167 $ 167 __________ (a) Excludes time deposits, certificates of deposit, and money market accounts reported at par value on our balance sheet totaling $3.9 billion and $3.8 billion at June 30, 2015 and December 31, 2014 , respectively. In addition to these cash equivalents, we also had cash on hand totaling $ 2.4 billion and $2.0 billion at June 30, 2015 and December 31, 2014 , respectively. (b) See Note 7 for additional information regarding derivatives.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION We divide our business segments based on geographic regions: North America (“North America Segment”) and International (“International Segment”). The North America Segment includes our operations in the United States and Canada. The International Segment includes our operations in all other countries in which we do business directly and indirectly. Key operating data for our business segments for the periods ended or at June 30 were as follows (in millions): Unallocated/Eliminations North International Unallocated Adjustment to Total Unallocated/Eliminations Total Second Quarter 2015 Total revenue (b) $ 1,951 $ 400 $ (13 ) $ — $ (13 ) $ 2,338 Income before income taxes 406 113 (13 ) — (13 ) 506 Other disclosures Depreciation on vehicles subject to operating leases 849 9 — — — 858 Interest expense 448 151 — — — 599 Provision for credit losses 60 12 — — — 72 Second Quarter 2014 Total revenue (b) $ 1,818 $ 419 $ (3 ) $ — $ (3 ) $ 2,234 Income before income taxes 317 120 (3 ) — (3 ) 434 Other disclosures Depreciation on vehicles subject to operating leases 732 10 — — — 742 Interest expense 511 162 — — — 673 Provision for credit losses 17 10 — — — 27 First Half 2015 Total revenue (b) $ 3,848 $ 810 $ (38 ) $ — $ (38 ) $ 4,620 Income before income taxes 785 242 (38 ) — (38 ) 989 Other disclosures Depreciation on vehicles subject to operating leases 1,660 14 — — — 1,674 Interest expense 930 307 — — — 1,237 Provision for credit losses 115 24 — — — 139 Net finance receivables and net investment in operating leases 94,831 22,726 — (4,631 ) (4,631 ) 112,926 Total assets 100,475 27,124 — — — 127,599 First Half 2014 Total revenue (b) $ 3,587 $ 820 $ (14 ) $ — $ (14 ) $ 4,393 Income before income taxes 695 252 (14 ) — (14 ) 933 Other disclosures Depreciation on vehicles subject to operating leases 1,427 20 — — — 1,447 Interest expense 1,023 316 — — — 1,339 Provision for credit losses 46 12 — — — 58 Net finance receivables and net investment in operating leases 87,583 22,992 — (3,982 ) (3,982 ) 106,593 Total assets 93,367 27,074 — — — 120,441 __________ (a) Includes unearned interest supplements and residual support, allowances for credit losses, and other (primarily accumulated supplemental depreciation). (b) Represents Total financing revenue, Insurance premiums earned , and Other income, net .

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Commitments and contingencies consist primarily of lease commitments, guarantees and indemnifications, and litigation and claims. Guarantees and Indemnifications Guarantees and indemnifications are recorded at fair value at their inception. We regularly review our performance risk under these arrangements, and in the event it becomes probable we will be required to perform under a guarantee or indemnity, the amount of probable payment is recorded. In some cases, we have guaranteed debt and other financial obligations of outside third parties and unconsolidated affiliates, including Ford. Expiration dates vary, and guarantees will terminate on payment and/or cancellation of the underlying obligation. A payment by us would be triggered by failure of the guaranteed party to fulfill its obligation covered by the guarantee. In some circumstances, we are entitled to recover from Ford, an affiliate of Ford, or a third party amounts paid by us under the guarantee. However, our ability to enforce these rights is sometimes stayed until the guaranteed party is paid in full, and may be limited in the event of insolvency of the third party or other circumstances. In the ordinary course of business, we execute contracts involving indemnifications standard in the industry and indemnifications specific to a transaction. These indemnifications might include and are not limited to claims relating to any of the following: environmental, tax, and shareholder matters; intellectual property rights; governmental regulations and employment-related matters; dealer and other commercial contractual relationships; and financial matters, such as securitizations. Performance under these indemnities generally would be triggered by a breach of terms of the contract or by a third-party claim. While some of these indemnifications are limited in nature, many of them do not limit potential payment. Therefore, we are unable to estimate a maximum amount of future payments that could result from claims made under these unlimited indemnities. The maximum potential payments under these guarantees and limited indemnities totaled $83 million and $107 million at June 30, 2015 and December 31, 2014 , respectively. Of these values, $77 million and $101 million at June 30, 2015 and December 31, 2014 , respectively, were counter-guaranteed by Ford to us. There were no recorded liabilities related to guarantees and limited indemnities at June 30, 2015 and December 31, 2014 , respectively. 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 governmental regulations; tax matters; alleged illegal acts resulting in fines or penalties; financial services; employment-related matters; dealer and other contractual relationships; personal injury matters; 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, sanctions, assessments, or other relief, which, if granted, would require very large expenditures. The extent of our financial exposure to these matters is difficult to estimate. Many matters do not specify a dollar amount for damages, and many others specify only a jurisdictional minimum. To the extent an amount is asserted, our historical experience suggests that in most instances the amount asserted is not a reliable indicator of the ultimate outcome. We accrue for matters when losses are deemed probable and reasonably estimable. In evaluating matters for accrual and disclosure purposes, we take into consideration factors such as our historical experience with matters of a similar nature, the specific facts and circumstances asserted, the likelihood that we will prevail, and the severity of any potential loss. We reevaluate and update our accruals as matters progress over time. NOTE 14. COMMITMENTS AND CONTINGENCIES (Continued) For nearly all of our matters, where our historical experience with similar matters is of 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. It is reasonably possible that some of the matters for which accruals have not been established could be decided unfavorably to us and could require us to pay damages or make other expenditures. We do not reasonably expect, based on our analysis, that such matters would have a material effect on future financial statements for a particular year, although such an outcome is possible . 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.

Accounting Policies (Policies)

Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Basis of Accounting and Intercompany Transactions [Abstract]
Basis of Accounting and Intercompany Transactions [Policy Text Block]	The consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information, and instructions to the Quarterly Report on Form 10-Q and Rule 10-01 of Regulation S-X.
Reclassifications [Abstract]
Comparability of Prior Year Financial Data, Policy [Policy Text Block]	We reclassified certain prior period amounts in our consolidated financial statements to conform to current year presentation.
Income Tax Disclosure [Abstract]
Income Tax, Policy [Policy Text Block]	Provision for Income Taxes For interim tax reporting we estimate one single effective tax rate, which is applied to the year-to-date ordinary income/(loss). Tax effects of significant unusual or extraordinary items are excluded from the estimated annual effective tax rate calculation and recognized in the interim period in which they occur.
Loans and Leases Receivable Disclosure [Abstract]
Finance, Loans and Leases Receivable, Policy [Policy Text Block]	The accrual of revenue is discontinued at the time a receivable is determined to be uncollectible. Accounts may be restored to accrual status only when a customer settles all past-due deficiency balances and future payments are reasonably assured. For receivables in non-accrual status, subsequent financing revenue is recognized only to the extent a payment is received. Payments are generally applied first to outstanding interest and then to the unpaid principal balance. A restructuring of debt constitutes a TDR if we grant a concession to a debtor for economic or legal reasons related to the debtor’s financial difficulties that we otherwise would not consider. Consumer and non-consumer receivables that have a modified interest rate below market rate or that were modified in reorganization proceedings pursuant to the U.S. Bankruptcy Code, except non-consumer receivables that are current with minimal risk of loss, are considered to be TDRs. We do not grant concessions on the principal balance of our receivables. If a receivable is modified in a reorganization proceeding, all payment requirements of the reorganization plan need to be met before remaining balances are forgiven. Finance receivables involved in TDRs are specifically assessed for impairment. Impaired Receivables Impaired consumer receivables include accounts that have been rewritten or modified in reorganization proceedings pursuant to the U.S. Bankruptcy Code that are considered to be Troubled Debt Restructurings (“TDRs”), as well as all accounts greater than 120 days past due . Impaired non-consumer receivables represent accounts with dealers that have weak or poor financial metrics or dealer financing that has been modified in TDRs. Aging For all finance receivables, we define “past due” as any payment, including principal and interest, that is at least 31 days past the contractual due date .
Lease Policy [Abstract]
Lease, Policy [Policy Text Block]	Net investment in operating leases consist primarily of lease contracts for vehicles with retail customers, daily rental companies, government entities, and fleet customers with terms of 60 months or less .
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives, Policy [Policy Text Block]	We have elected to apply hedge accounting to certain derivatives. Derivatives that are designated in hedging relationships are evaluated for effectiveness using regression analysis at the time they are designated and throughout the hedge period. Some derivatives do not qualify for hedge accounting; for others, we elect not to apply hedge accounting.
Commitments and Contingencies Disclosure [Abstract]
Guarantees and Indemnifications Policies [Policy Text Block]	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 nearly all of our matters, where our historical experience with similar matters is of 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. Guarantees and Indemnifications Guarantees and indemnifications are recorded at fair value at their inception. We regularly review our performance risk under these arrangements, and in the event it becomes probable we will be required to perform under a guarantee or indemnity, the amount of probable payment is recorded.

Finance Receivables (Tables)

Finance Receivables (Tables)	6 Months Ended
	Jun. 30, 2015
Financing Receivables [Line Items]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	Finance receivables, net were as follows (in millions): June 30, December 31, Consumer Retail financing, gross (a) $ 57,646 $ 55,856 Less: Unearned interest supplements (b) (1,739 ) (1,760 ) Consumer finance receivables 55,907 54,096 Non-Consumer Dealer financing (a)(c) 32,757 31,875 Other financing 1,214 1,265 Non-Consumer finance receivables 33,971 33,140 Total recorded investment (d) $ 89,878 $ 87,236 Recorded investment in finance receivables (d) $ 89,878 $ 87,236 Less: Allowance for credit losses (e) (335 ) (321 ) Finance receivables, net $ 89,543 $ 86,915 Net finance receivables subject to fair value (f) $ 87,773 $ 85,242 Fair value 89,062 86,715 __________ (a) At June 30, 2015 and December 31, 2014 , includes consumer receivables of $26.9 billion and $24.4 billion , respectively, and non-consumer receivables of $23.1 billion and $21.8 billion , respectively, that have been sold for legal purposes in securitization transactions but continue to be reported in our consolidated financial statements. The receivables are available only for payment of the debt issued by, and other obligations of, the securitization entities that are parties to those securitization transactions; they are not available to pay our other obligations or the claims of our other creditors. We hold the right to receive the excess cash flows not needed to pay the debt issued by, and other obligations of, the securitization entities that are parties to those securitization transactions. See Note 5 for additional information. (b) Ford-sponsored special financing programs attributable to retail financing. (c) At June 30, 2015 and December 31, 2014 , includes $664 million and $535 million , respectively, of dealer financing receivables with entities (primarily dealers) that are reported as consolidated subsidiaries of Ford. The associated vehicles that are being financed by us are reported as inventory on Ford’s balance sheet. (d) At June 30, 2015 and December 31, 2014 , excludes $185 million and $192 million , respectively, of accrued uncollected interest, which we report in Other assets on our balance sheet. (e) See Note 4 for additional information related to our allowance for credit losses. (f) At June 30, 2015 and December 31, 2014 , excludes $1.8 billion and $1.7 billion , respectively, of certain receivables (primarily direct financing leases) that are not subject to fair value disclosure requirements.
Schedule of Aging Analysis for Total Finance Receivables [Table Text Block]	The aging analysis of finance receivables balances was as follows (in millions): June 30, December 31, Consumer 31-60 days past due $ 566 $ 718 61-90 days past due 85 97 91-120 days past due 23 29 Greater than 120 days past due 39 52 Total past due 713 896 Current 55,194 53,200 Consumer finance receivables 55,907 54,096 Non-Consumer Total past due 110 117 Current 33,861 33,023 Non-Consumer finance receivables 33,971 33,140 Total recorded investment $ 89,878 $ 87,236
Commercial Portfolio Segment [Member]
Financing Receivables [Line Items]
Schedule of Financing Receivable Credit Quality Indicators [Table Text Block]	The credit quality analysis of our dealer financing receivables was as follows (in millions): June 30, December 31, Dealer financing Group I $ 24,738 $ 23,641 Group II 6,510 6,360 Group III 1,406 1,787 Group IV 103 87 Total recorded investment $ 32,757 $ 31,875

Net Investment in Operating L23

Net Investment in Operating Leases (Tables)	6 Months Ended
	Jun. 30, 2015
Leases, Operating [Abstract]
Net investment in operating leases [Table Text Block]	Net investment in operating leases were as follows (in millions): June 30, December 31, Vehicles, at cost, including acquisition costs $ 27,326 $ 24,952 Less: Accumulated depreciation (3,898 ) (3,396 ) Net investment in operating leases before allowance for credit losses (a) 23,428 21,556 Less: Allowance for credit losses (45 ) (38 ) Net investment in operating leases $ 23,383 $ 21,518 __________ (a) At June 30, 2015 and December 31, 2014 , includes net investment in operating leases of $11.9 billion and $9.6 billion , respectively, that have been included in securitization transactions but continue to be reported in our consolidated financial statements. These net investment in operating leases 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 our other obligations or the claims of our other creditors. We hold the right to receive the excess cash flows not needed to pay the debt issued by, and other obligations of, the securitization entities that are parties to those securitization transactions. See Note 5 for additional information.

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2015
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Allowance for Credit Losses on Financing and Loans and Leases Receivable [Table Text Block]	An analysis of the allowance for credit losses related to finance receivables and net investment in operating leases for the periods ended June 30 (in millions) was as follows: Second Quarter 2015 Finance Receivables Net Investment in Operating Leases Total Allowance Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 301 $ 13 $ 314 $ 41 $ 355 Charge-offs (70 ) (2 ) (72 ) (26 ) (98 ) Recoveries 31 1 32 16 48 Provision for credit losses 57 — 57 15 72 Other (a) 3 1 4 (1 ) 3 Ending balance $ 322 $ 13 $ 335 $ 45 $ 380 First Half 2015 Finance Receivables Net Investment in Operating Leases Total Allowance Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 305 $ 16 $ 321 $ 38 $ 359 Charge-offs (150 ) (1 ) (151 ) (56 ) (207 ) Recoveries 61 3 64 31 95 Provision for credit losses 110 (4 ) 106 33 139 Other (a) (4 ) (1 ) (5 ) (1 ) (6 ) Ending balance $ 322 $ 13 $ 335 $ 45 $ 380 Analysis of ending balance of allowance for credit losses Collective impairment allowance $ 303 $ 13 $ 316 $ 45 $ 361 Specific impairment allowance 19 — 19 — 19 Ending balance 322 13 335 45 $ 380 Analysis of ending balance of finance receivables and net investment in operating leases Collectively evaluated for impairment 55,527 33,845 89,372 23,428 Specifically evaluated for impairment 380 126 506 — Recorded investment 55,907 33,971 89,878 23,428 Ending balance, net of allowance for credit losses $ 55,585 $ 33,958 $ 89,543 $ 23,383 __________ (a) Primarily represents amounts related to translation adjustments. NOTE 4. ALLOWANCE FOR CREDIT LOSSES (Continued) Second Quarter 2014 Finance Receivables Net Investment in Operating Leases Total Allowance Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 307 $ 27 $ 334 $ 24 $ 358 Charge-offs (57 ) (3 ) (60 ) (26 ) (86 ) Recoveries 34 1 35 18 53 Provision for credit losses 17 — 17 10 27 Other (a) 2 (1 ) 1 — 1 Ending balance $ 303 $ 24 $ 327 $ 26 $ 353 First Half 2014 Finance Receivables Net Investment in Operating Leases Total Allowance Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 327 $ 30 $ 357 $ 23 $ 380 Charge-offs (132 ) (5 ) (137 ) (54 ) (191 ) Recoveries 68 6 74 32 106 Provision for credit losses 40 (7 ) 33 25 58 Other (a) — — — — — Ending balance $ 303 $ 24 $ 327 $ 26 $ 353 Analysis of ending balance of allowance for credit losses Collective impairment allowance $ 281 $ 23 $ 304 $ 26 $ 330 Specific impairment allowance 22 1 23 — 23 Ending balance 303 24 327 26 $ 353 Analysis of ending balance of finance receivables and net investment in operating leases Collectively evaluated for impairment 51,505 34,951 86,456 19,901 Specifically evaluated for impairment 419 170 589 — Recorded investment 51,924 35,121 87,045 19,901 Ending balance, net of allowance for credit losses $ 51,621 $ 35,097 $ 86,718 $ 19,875 __________ (a) Primarily represents amounts related to translation adjustments.

Transfers of Receivables (Table

Transfers of Receivables (Tables)	6 Months Ended
	Jun. 30, 2015
Transfers and Servicing [Abstract]
Schedule of Assets and Liabilities Related to Securitization Transactions [Table Text Block]	The following tables show the assets and debt related to our securitization transactions that were included in our financial statements (in billions): June 30, 2015 Cash and Cash Equivalents Finance Receivables and Net Investment in Operating Leases (a) Related Debt Before Allowance for Credit Losses Allowance for Credit Losses After Allowance for Credit Losses VIE (b) Retail financing $ 1.5 $ 21.3 $ 0.1 $ 21.2 $ 19.5 Wholesale financing 0.3 22.4 — 22.4 13.2 Finance receivables 1.8 43.7 0.1 43.6 32.7 Net investment in operating leases 0.6 11.9 — 11.9 7.9 Total VIE $ 2.4 $ 55.6 $ 0.1 $ 55.5 $ 40.6 Non-VIE Retail financing $ 0.3 $ 5.6 $ — $ 5.6 $ 5.2 Wholesale financing — 0.7 — 0.7 0.7 Finance receivables 0.3 6.3 — 6.3 5.9 Net investment in operating leases — — — — — Total Non-VIE $ 0.3 $ 6.3 $ — $ 6.3 $ 5.9 Total securitization transactions Retail financing $ 1.8 $ 26.9 $ 0.1 $ 26.8 $ 24.7 Wholesale financing 0.3 23.1 — 23.1 13.9 Finance receivables 2.1 50.0 0.1 49.9 38.6 Net investment in operating leases 0.6 11.9 — 11.9 7.9 Total securitization transactions $ 2.7 $ 61.9 $ 0.1 $ 61.8 $ 46.5 __________ (a) Unearned interest supplements and residual support are excluded from securitization transactions. (b) Includes assets to be used to settle the liabilities of the consolidated VIEs. NOTE 5. TRANSFERS OF RECEIVABLES (Continued) December 31, 2014 Cash and Cash Equivalents Finance Receivables and Net Investment in Operating Leases (a) Related Debt Before Allowance for Credit Losses Allowance for Credit Losses After Allowance for Credit Losses VIE (b) Retail financing $ 1.4 $ 18.8 $ 0.1 $ 18.7 $ 17.3 Wholesale financing 0.3 20.8 — 20.8 13.3 Finance receivables 1.7 39.6 0.1 39.5 30.6 Net investment in operating leases 0.4 9.6 — 9.6 6.6 Total VIE $ 2.1 $ 49.2 $ 0.1 $ 49.1 $ 37.2 Non-VIE Retail financing $ 0.3 $ 5.6 $ — $ 5.6 $ 5.2 Wholesale financing — 1.0 — 1.0 0.9 Finance receivables 0.3 6.6 — 6.6 6.1 Net investment in operating leases — — — — — Total Non-VIE $ 0.3 $ 6.6 $ — $ 6.6 $ 6.1 Total securitization transactions Retail financing $ 1.7 $ 24.4 $ 0.1 $ 24.3 $ 22.5 Wholesale financing 0.3 21.8 — 21.8 14.2 Finance receivables 2.0 46.2 0.1 46.1 36.7 Net investment in operating leases 0.4 9.6 — 9.6 6.6 Total securitization transactions $ 2.4 $ 55.8 $ 0.1 $ 55.7 $ 43.3 __________ (a) Unearned interest supplements and residual support are excluded from securitization transactions. (b) Includes assets to be used to settle the liabilities of the consolidated VIEs.

Derivative Financial Instrume26

Derivative Financial Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Income Effect of Derivative Financial Instruments [Table Text Block]	The gains/(losses), by hedge designation, recorded in income for the periods ended June 30 were as follows (in millions): Second Quarter First Half 2015 2014 2015 2014 Fair value hedges Interest rate contracts Net interest settlements and accruals excluded from the assessment of hedge effectiveness $ 89 $ 72 $ 177 $ 141 Ineffectiveness (a) (10 ) 5 (4 ) 10 Derivatives not designated as hedging instruments Interest rate contracts (18 ) (9 ) (61 ) (27 ) Foreign currency exchange contracts (65 ) (25 ) — (30 ) Cross-currency interest rate swap contracts (77 ) (11 ) 12 (16 ) Total $ (81 ) $ 32 $ 124 $ 78 __________ (a) For the second quarter and first half of 2015, hedge ineffectiveness reflects the net change in fair value on derivatives of $249 million loss and $28 million loss, respectively, and change in value on hedged debt attributable to the change in benchmark interest rates of $239 million gain and $24 million gain, respectively. For the second quarter and first half of 2014, hedge ineffectiveness reflects the net change in fair value on derivatives of $ 162 million gain and $267 million gain, respectively, and change in value on hedged debt attributable to the change in benchmark interest rates of $157 million loss and $257 million loss, respectively.
Balance Sheet Effect of Derivative Financial Instruments [Table Text Block]	The notional amount and estimated fair value of our derivative financial instruments were as follows (in millions): June 30, 2015 December 31, 2014 Notional Fair Value of Assets Fair Value of Liabilities Notional Fair Value of Assets Fair Value of Liabilities Fair value hedges Interest rate contracts $ 24,202 $ 572 $ 38 $ 23,203 $ 602 $ 38 Derivatives not designated as hedging instruments Interest rate contracts 57,897 157 132 56,558 168 89 Foreign currency exchange contracts (a) 1,265 — 41 1,527 18 1 Cross-currency interest rate swap contracts 2,403 94 167 2,425 71 39 Total derivative financial instruments, gross $ 85,767 823 378 $ 83,713 859 167 Counterparty netting and collateral (b) (161 ) (161 ) (136 ) (136 ) Total derivative financial instruments, net $ 662 $ 217 $ 723 $ 31 __________ (a) Includes forward contracts between Ford Credit and an affiliated company. (b) At June 30, 2015 and December 31, 2014 , we did not receive or pledge any cash collateral.

Other Assets and Other Liabil27

Other Assets and Other Liabilities and Deferred Income (Tables)	6 Months Ended
	Jun. 30, 2015
Other Assets and Other Liabilities and Deferred Income [Abstract]
Schedule of Other Assets and Other Liabilities [Table Text Block]	Other assets were as follows (in millions): June 30, December 31, Accrued interest and other non-finance receivables $ 924 $ 921 Collateral held for resale, at net realizable value 347 382 Restricted cash (a) 74 130 Deferred charges 280 268 Deferred charges – income taxes 177 185 Prepaid reinsurance premiums and other reinsurance receivables 435 401 Investment in non-consolidated affiliates 146 141 Property and equipment, net of accumulated depreciation (b) 127 120 Other 56 53 Total other assets $ 2,566 $ 2,601 __________ (a) Restricted cash primarily includes cash held to meet certain local governmental and regulatory reserve requirements and cash held under the terms of certain contractual agreements. Restricted cash does not include required minimum balances or cash securing debt issued through securitization transactions. (b) Accumulated depreciation was $333 million and $326 million at June 30, 2015 and December 31, 2014 , respectively. Other liabilities and deferred income were as follows (in millions): June 30, December 31, Interest payable $ 526 $ 587 Tax related payables to Ford and affiliated companies 139 625 Unrecognized tax benefits 97 91 Unearned insurance premiums 447 410 Other 453 497 Total other liabilities and deferred income $ 1,662 $ 2,210

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	Interest rates and debt outstanding were as follows (in millions): Interest Rates Debt Average Contractual Average Effective June 30, December 31, 2015 2014 2015 2014 Short-term debt Unsecured debt Floating rate demand notes $ 5,651 $ 5,559 Commercial paper 1,813 1,651 Other short-term debt 2,370 2,564 Asset-backed debt 1,583 1,377 Total short-term debt 11,417 11,151 1.7 % 1.9 % 1.8 % 1.9 % Long-term debt Unsecured debt Notes payable within one year 8,581 9,102 Notes payable after one year 44,238 42,488 Asset-backed debt (a) Notes payable within one year 17,354 16,722 Notes payable after one year 27,591 25,197 Unamortized discount (41 ) (51 ) Fair value adjustments (b) 381 428 Total long-term debt 98,104 93,886 2.4 % 2.7 % 2.5 % 2.8 % Total debt $ 109,521 $ 105,037 2.3 % 2.6 % 2.4 % 2.7 % Fair value of debt (c) $ 111,119 $ 107,190 __________ (a) Asset-backed debt issued in securitizations is the obligation of the consolidated securitization entity that issued the debt and is payable only out of collections on the underlying securitized assets and related enhancements. This asset-backed debt is not the obligation of Ford Credit or our other subsidiaries. (b) Adjustments related to designated fair value hedges of unsecured debt. (c) The fair value of debt includes $9.8 billion and $9.8 billion of short-term debt at June 30, 2015 and December 31, 2014, respectively, carried at cost, which approximates fair value. All debt is categorized within Level 2 of the fair value hierarchy.

Accumulated Other Comprehensi29

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The changes in the balance of Accumulated Other Comprehensive Income (“AOCI”) attributable to Ford Credit for the periods ended June 30 were as follows (in millions): Second Quarter First Half 2015 2014 2015 2014 Foreign currency translation Beginning balance $ (323 ) $ 635 $ 160 $ 717 Net gain/(loss) on foreign currency translation 196 85 (287 ) 3 Other comprehensive income/(loss), net of tax 196 85 (287 ) 3 Ending balance $ (127 ) $ 720 $ (127 ) $ 720 Total AOCI ending balance at June 30 $ (127 ) $ 720 $ (127 ) $ 720

Other Income (Tables)

Other Income (Tables)	6 Months Ended
	Jun. 30, 2015
Other Income and Expenses [Abstract]
Schedule of Other Income [Table Text Block]	The amounts included in Other income, net were as follows for the periods ended June 30 (in millions): Second Quarter First Half 2015 2014 2015 2014 Gains/(Losses) on derivatives $ (170 ) $ (40 ) $ (55 ) $ (63 ) Currency revaluation gains/(losses) 140 31 (11 ) 38 Interest and investment income 20 15 45 29 Insurance fee income 22 15 38 41 Other 35 45 84 72 Total other income, net $ 47 $ 66 $ 101 $ 117

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The following table categorizes the fair values of items measured at fair value on a recurring basis on our balance sheet, none of which are Level 3 (in millions): June 30, 2015 December 31, 2014 Level 1 Level 2 Total Level 1 Level 2 Total Assets Cash equivalents-financial instruments Non-U.S. government and agencies $ — $ 419 $ 419 $ — $ 341 $ 341 Corporate debt — 50 50 — 10 10 Total cash equivalents-financial instruments (a) — 469 469 — 351 351 Marketable securities U.S. government and agencies 669 700 1,369 17 1,251 1,268 Non-U.S. government and agencies — 630 630 — 405 405 Corporate debt — 1,780 1,780 — 1,555 1,555 Other marketable securities — 27 27 — 30 30 Total marketable securities 669 3,137 3,806 17 3,241 3,258 Derivative financial instruments Derivative financial instruments (b) — 823 823 — 859 859 Total assets at fair value $ 669 $ 4,429 $ 5,098 $ 17 $ 4,451 $ 4,468 Liabilities Derivative financial instruments (b) $ — $ 378 $ 378 $ — $ 167 $ 167 Total liabilities at fair value $ — $ 378 $ 378 $ — $ 167 $ 167 __________ (a) Excludes time deposits, certificates of deposit, and money market accounts reported at par value on our balance sheet totaling $3.9 billion and $3.8 billion at June 30, 2015 and December 31, 2014 , respectively. In addition to these cash equivalents, we also had cash on hand totaling $ 2.4 billion and $2.0 billion at June 30, 2015 and December 31, 2014 , respectively. (b) See Note 7 for additional information regarding derivatives.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Key operating data for our business segments for the periods ended or at June 30 were as follows (in millions): Unallocated/Eliminations North International Unallocated Adjustment to Total Unallocated/Eliminations Total Second Quarter 2015 Total revenue (b) $ 1,951 $ 400 $ (13 ) $ — $ (13 ) $ 2,338 Income before income taxes 406 113 (13 ) — (13 ) 506 Other disclosures Depreciation on vehicles subject to operating leases 849 9 — — — 858 Interest expense 448 151 — — — 599 Provision for credit losses 60 12 — — — 72 Second Quarter 2014 Total revenue (b) $ 1,818 $ 419 $ (3 ) $ — $ (3 ) $ 2,234 Income before income taxes 317 120 (3 ) — (3 ) 434 Other disclosures Depreciation on vehicles subject to operating leases 732 10 — — — 742 Interest expense 511 162 — — — 673 Provision for credit losses 17 10 — — — 27 First Half 2015 Total revenue (b) $ 3,848 $ 810 $ (38 ) $ — $ (38 ) $ 4,620 Income before income taxes 785 242 (38 ) — (38 ) 989 Other disclosures Depreciation on vehicles subject to operating leases 1,660 14 — — — 1,674 Interest expense 930 307 — — — 1,237 Provision for credit losses 115 24 — — — 139 Net finance receivables and net investment in operating leases 94,831 22,726 — (4,631 ) (4,631 ) 112,926 Total assets 100,475 27,124 — — — 127,599 First Half 2014 Total revenue (b) $ 3,587 $ 820 $ (14 ) $ — $ (14 ) $ 4,393 Income before income taxes 695 252 (14 ) — (14 ) 933 Other disclosures Depreciation on vehicles subject to operating leases 1,427 20 — — — 1,447 Interest expense 1,023 316 — — — 1,339 Provision for credit losses 46 12 — — — 58 Net finance receivables and net investment in operating leases 87,583 22,992 — (3,982 ) (3,982 ) 106,593 Total assets 93,367 27,074 — — — 120,441 __________ (a) Includes unearned interest supplements and residual support, allowances for credit losses, and other (primarily accumulated supplemental depreciation). (b) Represents Total financing revenue, Insurance premiums earned , and Other income, net .

Finance Receivables Net (Detail

Finance Receivables Net (Details) - USD ($) $ in Millions	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Net Finance Receivables [Abstract]
Financing Receivables	$ 89,878		$ 87,236	$ 87,045
Less: Allowance for credit losses	(335)	$ (314)	(321)	(327)	$ (334)	$ (357)
Finance receivables, net	89,543		86,915	$ 86,718
Net finance receivables subject to fair value	87,773		85,242
Fair value	89,062		86,715
Finance receivables not subject to fair value	1,800		1,700
Other Assets on Statement of Financial Position [Member]
Net Finance Receivables [Abstract]
Uncollected interest receivable excluded from finance receivable	185		192
Consumer Portfolio Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivables	55,907		54,096
Consumer Portfolio Segment [Member] | Securitization Transactions [Member]
Net Finance Receivables [Abstract]
Amount of finance receivables that secure certain debt obligations	26,900		24,400
Consumer Portfolio Segment [Member] | Retail [Member]
Net Finance Receivables [Abstract]
Finance receivables before unearned interest supplements	57,646		55,856
Related Party Transaction Unearned Interest Supplements From Transactions With Related Party	(1,739)		(1,760)
Commercial Portfolio Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivables	33,971		33,140
Commercial Portfolio Segment [Member] | Securitization Transactions [Member]
Net Finance Receivables [Abstract]
Amount of finance receivables that secure certain debt obligations	23,100		21,800
Commercial Portfolio Segment [Member] | Dealer Financing [Member]
Net Finance Receivables [Abstract]
Financing Receivables	32,757		31,875
Commercial Portfolio Segment [Member] | Other [Member]
Net Finance Receivables [Abstract]
Financing Receivables	1,214		1,265
Commercial Portfolio Segment [Member] | Wholesale [Member] | Subsidiary of Common Parent [Member]
Net Finance Receivables [Abstract]
Financing Receivables	$ 664		$ 535

Finance Receivables - Aging Ana

Finance Receivables - Aging Analysis (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number Of Days After Which Finance Receivable Is Considered Past Due	any payment, including principal and interest, that is at least 31 days past the contractual due date
Number Of Days At Which Finance Receivables Are In Process Of Collection
Finance Receivables Aging Analysis [Abstract]
Financing Receivables	$ 89,878	$ 87,236	$ 87,045
Consumer Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing	13	17
Finance Receivables Aging Analysis [Abstract]
31-60 days past due	566	718
61-90 days past due	85	97
91-120 days past due	23	29
Greater than 120 days past due	39	52
Total past due	713	896
Current	55,194	53,200
Financing Receivables	55,907	54,096
Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing	1	3
Finance Receivables Aging Analysis [Abstract]
Total past due	110	117
Current	33,861	33,023
Financing Receivables	$ 33,971	$ 33,140

Finance Receivables - Credit Qu

Finance Receivables - Credit Quality,Impaired Receivables, TDRs and Non-Accrual Status (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivables	$ 89,878	$ 87,236	$ 87,045
Number of Days Past Due After Which Consumer Receivables are Considered Impaired	greater than 120 days past due
Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivables	$ 33,971	33,140
Impaired Financing Receivable, Recorded Investment	$ 126	$ 110
Impaired Financing Receivable Recorded Investment, Percentage of Receivable	0.40%	0.30%
Commercial Portfolio Segment [Member] | Dealer Financing [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivables	$ 32,757	$ 31,875
Consumer Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivables	55,907	54,096
Impaired Financing Receivable, Recorded Investment	$ 380	$ 415
Impaired Financing Receivable Recorded Investment, Percentage of Receivable	0.70%	0.80%
Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Term, in days, for credit quality rating	current to 60 days past due
Special Mention [Member] | Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance Receivables Credit Quality Ratings Term Range	61 days
Special Mention [Member] | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance Receivables Credit Quality Ratings Term Range	120 days
Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Term, in days, for credit quality rating	greater than 120 days past due
Group I | Commercial Portfolio Segment [Member] | Dealer Financing [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivables	$ 24,738	$ 23,641
Group II | Commercial Portfolio Segment [Member] | Dealer Financing [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivables	6,510	6,360
Group III | Commercial Portfolio Segment [Member] | Dealer Financing [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivables	1,406	1,787
Group IV | Commercial Portfolio Segment [Member] | Dealer Financing [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivables	$ 103	$ 87

Net Investment in Operating L36

Net Investment in Operating Leases (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Property Subject to or Available for Operating Lease [Line Items]
Length of lease contract	60 months or less
Vehicles, at cost, including initial direct costs	$ 27,326		$ 24,952
Less: Accumulated depreciation	(3,898)		(3,396)
Net investment in operating leases before allowance for credit losses	23,428		21,556	$ 19,901
Less: Allowance for credit losses	(45)	$ (41)	(38)	(26)	$ (24)	$ (23)
Net investment in operating leases	23,383		21,518	$ 19,875
Securitization Transactions [Member]
Property Subject to or Available for Operating Lease [Line Items]
Net investment in operating leases	$ 11,900		$ 9,600

Allowance for Credit Losses (De

Allowance for Credit Losses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Allowance for credit losses, finance receivables
Beginning balance	$ 314	$ 334	$ 321	$ 357
Charge-offs	(72)	(60)	(151)	(137)
Recoveries	32	35	64	74
Provision for credit losses	57	17	106	33
Other	4	1	(5)	0
Ending balance	314	334	321	357	$ 335	$ 321	$ 327
Analysis of ending balance of allowance for credit losses, finance receivables
Collective impairment allowance					316		304
Specific impairment allowance					19		23
Ending balance	314	334	321	357	335	321	327
Analysis of ending balance of finance receivables
Collectively evaluated for impairment					89,372		86,456
Specifically evaluated for impairment					506		589
Financing Receivables					89,878	87,236	87,045
Ending balance, net of allowance for credit losses					89,543	86,915	86,718
Allowance for credit losses, net investment in operating leases
Beginning balance	41	24	38	23
Charge-offs	(26)	(26)	(56)	(54)
Recoveries	16	18	31	32
Other	(1)	0	(1)	0
Ending balance	41	24	38	23	45	38	26
Analysis of Ending Balance of Allowance for Credit Losses, Net Investment in Operating Leases [Abstract]
Collective impairment allowance					45		26
Specific impairment allowance					0		0
Ending balance	41	24	38	23	45	38	26
Analysis of ending balance of net investment in operating leases
Collectively evaluated for impairment					23,428		19,901
Individually evaluated for impairment					0		0
Net investment in operating leases before allowance for credit losses					23,428	21,556	19,901
Ending balance, net investment in operating leases					23,383	21,518	19,875
Total allowance
Beginning balance	355	358	359	380
Charge-offs	(98)	(86)	(207)	(191)
Recoveries	48	53	95	106
Provision for credit losses	72	27	139	58
Other	3	1	(6)	0
Ending balance	355	358	359	380	380	359	353
Analysis of Ending Balance of Finance Receivables and Net Investment in Operating Leases [Abstract]
Collective impairment allowance					361		330
Specific impairment allowance					19		23
Ending balance	355	358	359	380	380	359	353
Net Investment in Operating Leases [Member]
Allowance for credit losses, finance receivables
Provision for credit losses	15	10	33	25
Consumer Portfolio Segment [Member]
Allowance for credit losses, finance receivables
Beginning balance	301	307	305	327
Charge-offs	(70)	(57)	(150)	(132)
Recoveries	31	34	61	68
Provision for credit losses	57	17	110	40
Other	3	2	(4)	0
Ending balance	301	307	305	327	322	305	303
Analysis of ending balance of allowance for credit losses, finance receivables
Collective impairment allowance					303		281
Specific impairment allowance					19		22
Ending balance	301	307	305	327	322	305	303
Analysis of ending balance of finance receivables
Collectively evaluated for impairment					55,527		51,505
Specifically evaluated for impairment					380		419
Financing Receivables					55,907		51,924
Ending balance, net of allowance for credit losses					55,585		51,621
Commercial Portfolio Segment [Member]
Allowance for credit losses, finance receivables
Beginning balance	13	27	16	30
Charge-offs	(2)	(3)	(1)	(5)
Recoveries	1	1	3	6
Provision for credit losses	0	0	(4)	(7)
Other	1	(1)	(1)	0
Ending balance	13	27	16	30	13	16	24
Analysis of ending balance of allowance for credit losses, finance receivables
Collective impairment allowance					13		23
Specific impairment allowance					0		1
Ending balance	$ 13	$ 27	$ 16	$ 30	13	$ 16	24
Analysis of ending balance of finance receivables
Collectively evaluated for impairment					33,845		34,951
Specifically evaluated for impairment					126		170
Financing Receivables					33,971		35,121
Ending balance, net of allowance for credit losses					$ 33,958		$ 35,097

Transfers of Receivables - Asse

Transfers of Receivables - Assets and Liabilities of Securitizations (Details) - USD ($) $ in Millions	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Securitization Transactions [Line Items]
Cash and cash equivalents	$ 6,767		$ 6,179	$ 6,825		$ 9,424
Financing and Loans and Leases Receivable Allowance	380	$ 355	359	353	$ 358	$ 380
Finance Receivables & Net Investment In Operating Leases, After Allowance for Credit Losses	112,926			$ 106,593
Related Debt	109,521		105,037
Variable Interest Entity, Primary Beneficiary [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	2,355		2,094
Related Debt	40,595		37,156
Securitization Transactions [Member] | Consolidated Entity Including Variable Interest Entities (VIE) [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	2,700		2,400
Finance Receivables & Net Investment in Operating Leases, Before Allowance for Credit Losses	61,900		55,800
Financing and Loans and Leases Receivable Allowance	100		100
Finance Receivables & Net Investment In Operating Leases, After Allowance for Credit Losses	61,800		55,700
Related Debt	46,500		43,300
Securitization Transactions [Member] | Consolidated Entity Including Variable Interest Entities (VIE) [Member] | Financing Receivable [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	2,100		2,000
Finance Receivables & Net Investment in Operating Leases, Before Allowance for Credit Losses	50,000		46,200
Financing and Loans and Leases Receivable Allowance	100		100
Finance Receivables & Net Investment In Operating Leases, After Allowance for Credit Losses	49,900		46,100
Related Debt	38,600		36,700
Securitization Transactions [Member] | Consolidated Entity Including Variable Interest Entities (VIE) [Member] | Retail [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	1,800		1,700
Finance Receivables & Net Investment in Operating Leases, Before Allowance for Credit Losses	26,900		24,400
Financing and Loans and Leases Receivable Allowance	100		100
Finance Receivables & Net Investment In Operating Leases, After Allowance for Credit Losses	26,800		24,300
Related Debt	24,700		22,500
Securitization Transactions [Member] | Consolidated Entity Including Variable Interest Entities (VIE) [Member] | Wholesale [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	300		300
Finance Receivables & Net Investment in Operating Leases, Before Allowance for Credit Losses	23,100		21,800
Financing and Loans and Leases Receivable Allowance	0		0
Finance Receivables & Net Investment In Operating Leases, After Allowance for Credit Losses	23,100		21,800
Related Debt	13,900		14,200
Securitization Transactions [Member] | Consolidated Entity Including Variable Interest Entities (VIE) [Member] | Net Investment in Operating Leases [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	600		400
Finance Receivables & Net Investment in Operating Leases, Before Allowance for Credit Losses	11,900		9,600
Financing and Loans and Leases Receivable Allowance	0		0
Finance Receivables & Net Investment In Operating Leases, After Allowance for Credit Losses	11,900		9,600
Related Debt	7,900		6,600
Securitization Transactions [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	2,400		2,100
Finance Receivables & Net Investment in Operating Leases, Before Allowance for Credit Losses	55,600		49,200
Financing and Loans and Leases Receivable Allowance	100		100
Finance Receivables & Net Investment In Operating Leases, After Allowance for Credit Losses	55,500		49,100
Related Debt	40,600		37,200
Securitization Transactions [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Financing Receivable [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	1,800		1,700
Finance Receivables & Net Investment in Operating Leases, Before Allowance for Credit Losses	43,700		39,600
Financing and Loans and Leases Receivable Allowance	100		100
Finance Receivables & Net Investment In Operating Leases, After Allowance for Credit Losses	43,600		39,500
Related Debt	32,700		30,600
Securitization Transactions [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Retail [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	1,500		1,400
Finance Receivables & Net Investment in Operating Leases, Before Allowance for Credit Losses	21,300		18,800
Financing and Loans and Leases Receivable Allowance	100		100
Finance Receivables & Net Investment In Operating Leases, After Allowance for Credit Losses	21,200		18,700
Related Debt	19,500		17,300
Securitization Transactions [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Wholesale [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	300		300
Finance Receivables & Net Investment in Operating Leases, Before Allowance for Credit Losses	22,400		20,800
Financing and Loans and Leases Receivable Allowance	0		0
Finance Receivables & Net Investment In Operating Leases, After Allowance for Credit Losses	22,400		20,800
Related Debt	13,200		13,300
Securitization Transactions [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Net Investment in Operating Leases [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	600		400
Finance Receivables & Net Investment in Operating Leases, Before Allowance for Credit Losses	11,900		9,600
Financing and Loans and Leases Receivable Allowance	0		0
Finance Receivables & Net Investment In Operating Leases, After Allowance for Credit Losses	11,900		9,600
Related Debt	7,900		6,600
Securitization Transactions [Member] | Consolidated Entity Excluding Variable Interest Entities (VIE) [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	300		300
Finance Receivables & Net Investment in Operating Leases, Before Allowance for Credit Losses	6,300		6,600
Financing and Loans and Leases Receivable Allowance	0		0
Finance Receivables & Net Investment In Operating Leases, After Allowance for Credit Losses	6,300		6,600
Related Debt	5,900		6,100
Securitization Transactions [Member] | Consolidated Entity Excluding Variable Interest Entities (VIE) [Member] | Financing Receivable [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	300		300
Finance Receivables & Net Investment in Operating Leases, Before Allowance for Credit Losses	6,300		6,600
Financing and Loans and Leases Receivable Allowance	0		0
Finance Receivables & Net Investment In Operating Leases, After Allowance for Credit Losses	6,300		6,600
Related Debt	5,900		6,100
Securitization Transactions [Member] | Consolidated Entity Excluding Variable Interest Entities (VIE) [Member] | Retail [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	300		300
Finance Receivables & Net Investment in Operating Leases, Before Allowance for Credit Losses	5,600		5,600
Financing and Loans and Leases Receivable Allowance	0		0
Finance Receivables & Net Investment In Operating Leases, After Allowance for Credit Losses	5,600		5,600
Related Debt	5,200		5,200
Securitization Transactions [Member] | Consolidated Entity Excluding Variable Interest Entities (VIE) [Member] | Wholesale [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	0		0
Finance Receivables & Net Investment in Operating Leases, Before Allowance for Credit Losses	700		1,000
Financing and Loans and Leases Receivable Allowance	0		0
Finance Receivables & Net Investment In Operating Leases, After Allowance for Credit Losses	700		1,000
Related Debt	700		900
Securitization Transactions [Member] | Consolidated Entity Excluding Variable Interest Entities (VIE) [Member] | Net Investment in Operating Leases [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	0		0
Finance Receivables & Net Investment in Operating Leases, Before Allowance for Credit Losses	0		0
Financing and Loans and Leases Receivable Allowance	0		0
Finance Receivables & Net Investment In Operating Leases, After Allowance for Credit Losses	0		0
Related Debt	$ 0		$ 0

Variable Interest Entities (Det

Variable Interest Entities (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Total maximum exposure	$ 64	$ 66

Income Effect of Derivative Fin

Income Effect of Derivative Financial Instruments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ (81)	$ 32	$ 124	$ 78
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Interest Rate Contract [Member]
Derivative [Line Items]
Net interest settlements and accruals excluded from the assessment of hedge effectiveness	89	72	177	141
Gain (Loss) on Interest Rate Fair Value Hedge Ineffectiveness	(10)	5	(4)	10
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	(249)	162	(28)	267
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	239	(157)	24	(257)
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member]
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	(18)	(9)	(61)	(27)
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	(65)	(25)	0	(30)
Not Designated as Hedging Instrument [Member] | Cross Currency Interest Rate Contract [Member]
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ (77)	$ (11)	$ 12	$ (16)

Balance Sheet Effect of Derivat

Balance Sheet Effect of Derivative Financial Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Derivative [Line Items]
Notional	$ 85,767	$ 83,713
Fair Value of Derivative Assets	823	859
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	(161)	(136)
Derivative Asset	662	723
Fair Value of Derivative Liabilities	378	167
Derivative Liability, Fair Value, Amount Not Offset Against Collateral	(161)	(136)
Derivative Liability	217	31
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Interest Rate Contract [Member]
Derivative [Line Items]
Notional	24,202	23,203
Fair Value of Derivative Assets	572	602
Fair Value of Derivative Liabilities	38	38
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member]
Derivative [Line Items]
Notional	57,897	56,558
Fair Value of Derivative Assets	157	168
Fair Value of Derivative Liabilities	132	89
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative [Line Items]
Notional	1,265	1,527
Fair Value of Derivative Assets	0	18
Fair Value of Derivative Liabilities	41	1
Not Designated as Hedging Instrument [Member] | Cross Currency Interest Rate Contract [Member]
Derivative [Line Items]
Notional	2,403	2,425
Fair Value of Derivative Assets	94	71
Fair Value of Derivative Liabilities	$ 167	$ 39

Other Assets and Other Liabil42

Other Assets and Other Liabilities and Deferred Income (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Other Assets [Abstract]
Accrued interest and other non-finance receivables	$ 924	$ 921
Collateral held for resale, at net realizable value	347	382
Restricted cash	74	130
Deferred charges	280	268
Deferred charges - income taxes	177	185
Prepaid reinsurance premiums and other reinsurance receivables	435	401
Investment in non-consolidated affiliates	146	141
Property and equipment, net of accumulated depreciation	127	120
Other	56	53
Total other assets	2,566	2,601
Accumulated depreciation	333	326
Other Liabilities and Deferred Income [Abstract]
Interest payable	526	587
Tax Related payables to Ford and affiliated companies	139	625
Unrecognized Tax Benefits, Other Liabilities	97	91
Unearned insurance premiums	447	410
Other	453	497
Total other liabilities and deferred income	$ 1,662	$ 2,210

Debt (Details)

Debt (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Unamortized discount	$ (41)	$ (51)
Adjustment Fair Value Hedging Instruments Unsecured Debt	381	428
Total debt	109,521	105,037
Fair value of debt	$ 111,119	$ 107,190
Average Contractual (interest rate)	2.30%	2.60%
Average Effective (interest rate)	2.40%	2.70%
Short Term Debt Carrying Value Fair Value	$ 9,800	$ 9,800
Floating Rate Demand Notes [Member]
Debt Instrument [Line Items]
Total short-term debt	5,651	5,559
Unsecured commercial paper [Member]
Debt Instrument [Line Items]
Total short-term debt	1,813	1,651
Other short-term debt [Member]
Debt Instrument [Line Items]
Total short-term debt	2,370	2,564
Asset-backed Securities [Member]
Debt Instrument [Line Items]
Total short-term debt	1,583	1,377
Notes payable within one year	17,354	16,722
Notes payable after one year	27,591	25,197
Total short-term debt [Member]
Debt Instrument [Line Items]
Total short-term debt	$ 11,417	$ 11,151
Average Contractual (interest rate)	1.70%	1.90%
Average Effective (interest rate)	1.80%	1.90%
Unsecured Debt [Member]
Debt Instrument [Line Items]
Notes payable within one year	$ 8,581	$ 9,102
Notes payable after one year	44,238	42,488
Total long-term debt [Member]
Debt Instrument [Line Items]
Long-term Debt and Capital Lease Obligations, Including Current Maturities	$ 98,104	$ 93,886
Average Contractual (interest rate)	2.40%	2.70%
Average Effective (interest rate)	2.50%	2.80%

Accumulated Other Comprehensi44

Accumulated Other Comprehensive Income (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Cumulative Translation Adjustment Summary [Roll Forward]
Beginning Balance	$ (323,000,000)	$ 635,000,000	$ 160,000,000	$ 717,000,000
Net gain/(loss) on Foreign Currency Translation	196,000,000	85,000,000	(287,000,000)	3,000,000
Other Comprehensive Income (Loss), Net of Tax	196,000,000	85,000,000	(286,000,000)	3,000,000
Ending Balance	(127,000,000)	720,000,000	(127,000,000)	720,000,000
Accumulated Other Comprehensive Income (Loss), Net of Tax	(127,000,000)	720,000,000	(127,000,000)	720,000,000	$ 160,000,000
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax [Abstract]
Net gain/(loss) on foreign currency translation, tax adjustment	0	0	0	0
Accumulated Other Comprehensive Income (Loss) [Member]
Cumulative Translation Adjustment Summary [Roll Forward]
Other Comprehensive Income (Loss), Net of Tax	$ 196,000,000	$ 85,000,000	$ (287,000,000)	$ 3,000,000

Other Income (Details)

Other Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Component of Other Income, Nonoperating [Line Items]
Derivative Instruments, Gain/(Loss) recongnized in income, Ineffectiveness Portion and amount not designated as hedging instruments	$ (170)	$ (40)	$ (55)	$ (63)
Foreign Currency Transaction Gain (Loss), Realized	140	31	(11)	38
Investment Income, Net	20	15	45	29
Insurance Fee Income	22	15	38	41
Other Nonoperating Income (Expense)	35	45	84	72
Other Income Loss Net	$ 47	$ 66	$ 101	$ 117

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fair Value of Derivative Assets	$ 823	$ 859
Fair Value of Derivative Liabilities	378	167
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents - financial instruments	469	351
Marketable securities	3,806	3,258
Fair Value of Derivative Assets	823	859
Total assets at fair value	5,098	4,468
Fair Value of Derivative Liabilities	378	167
Total liabilities at fair value	378	167
Fair Value, Measurements, Recurring [Member] | Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Par value assets excluded from fair value by input	3,900	3,800
Fair Value, Measurements, Recurring [Member] | Cash [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Par value assets excluded from fair value by input	2,400	2,000
Fair Value, Measurements, Recurring [Member] | Foreign Government and Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents - financial instruments	419	341
Marketable securities	630	405
Fair Value, Measurements, Recurring [Member] | Corporate debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents - financial instruments	50	10
Marketable securities	1,780	1,555
Fair Value, Measurements, Recurring [Member] | US Treasury and Government [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities	1,369	1,268
Fair Value, Measurements, Recurring [Member] | Other Marketable Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities	27	30
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents - financial instruments	0	0
Marketable securities	669	17
Fair Value of Derivative Assets	0	0
Total assets at fair value	669	17
Fair Value of Derivative Liabilities	0	0
Total liabilities at fair value	0	0
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Foreign Government and Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents - financial instruments	0	0
Marketable securities	0	0
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Corporate debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents - financial instruments	0	0
Marketable securities	0	0
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | US Treasury and Government [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities	669	17
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Other Marketable Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities	0	0
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents - financial instruments	469	351
Marketable securities	3,137	3,241
Fair Value of Derivative Assets	823	859
Total assets at fair value	4,429	4,451
Fair Value of Derivative Liabilities	378	167
Total liabilities at fair value	378	167
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Foreign Government and Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents - financial instruments	419	341
Marketable securities	630	405
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Corporate debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents - financial instruments	50	10
Marketable securities	1,780	1,555
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | US Treasury and Government [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities	700	1,251
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Other Marketable Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities	$ 27	$ 30

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Total revenue	$ 2,338	$ 2,234	$ 4,620	$ 4,393
Income before income taxes	506	434	989	933
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	858	742	1,674	1,447
Interest expense	599	673	1,237	1,339
Provision for credit losses	72	27	139	58
Net finance receivables and net investment in operating leases	112,926	106,593	112,926	106,593
Total assets	127,599	120,441	127,599	120,441	$ 122,108
North America Segment [Member]
Segment Reporting Information [Line Items]
Total revenue	1,951	1,818	3,848	3,587
Income before income taxes	406	317	785	695
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	849	732	1,660	1,427
Interest expense	448	511	930	1,023
Provision for credit losses	60	17	115	46
Net finance receivables and net investment in operating leases	94,831	87,583	94,831	87,583
Total assets	100,475	93,367	100,475	93,367
International Segment [Member]
Segment Reporting Information [Line Items]
Total revenue	400	419	810	820
Income before income taxes	113	120	242	252
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	9	10	14	20
Interest expense	151	162	307	316
Provision for credit losses	12	10	24	12
Net finance receivables and net investment in operating leases	22,726	22,992	22,726	22,992
Total assets	27,124	27,074	27,124	27,074
Unallocated Risk Management [Member]
Segment Reporting Information [Line Items]
Total revenue	(13)	(3)	(38)	(14)
Income before income taxes	(13)	(3)	(38)	(14)
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	0	0	0	0
Interest expense	0	0	0	0
Provision for credit losses	0	0	0	0
Net finance receivables and net investment in operating leases	0	0	0	0
Total assets	0	0	0	0
Adjustment to Receivables [Member]
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Income before income taxes	0	0	0	0
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	0	0	0	0
Interest expense	0	0	0	0
Provision for credit losses	0	0	0	0
Net finance receivables and net investment in operating leases	(4,631)	(3,982)	(4,631)	(3,982)
Total assets	0	0	0	0
Total Unallocated/Eliminations [Member]
Segment Reporting Information [Line Items]
Total revenue	(13)	(3)	(38)	(14)
Income before income taxes	(13)	(3)	(38)	(14)
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	0	0	0	0
Interest expense	0	0		0
Provision for credit losses	0	0	0	0
Net finance receivables and net investment in operating leases	(4,631)	(3,982)	(4,631)	(3,982)
Total assets	$ 0	$ 0	$ 0	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Minimum rentals on operating leases [Abstract]
Guarantor Obligations, Current Carrying Value	$ 0	$ 0
Counter Guarantee [Member] | Ford Motor Company [Member]
Minimum rentals on operating leases [Abstract]
Counter guarantee	77,000,000	101,000,000
Financial Guarantee [Member]
Minimum rentals on operating leases [Abstract]
Maximum potential payments	$ 83,000,000	$ 107,000,000