Ford Motor Credit (FCZ) 10-Q 31 Jul 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document	6 Months Ended
	Jun. 30, 2020shares
Document Transition Report	false
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Entity Registrant Name	Ford Motor Credit Co LLC
Entity Central Index Key	0000038009
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2020
Entity File Number	1-6368
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding	0
Entity Small Business	false
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
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.
Local Phone Number	(313)
Entity Tax Identification Number	38-1612444
Entity Address, Address Line One	One American Road
Entity Address, City or Town	Dearborn,
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48126
Local Phone Number	322-3000
Entity Interactive Data Current	Yes
Entity Shell Company	false
F/20S [Member]
Trading Symbol	F/20S
Title of 12(b) Security	3.588% Notes due June 2, 2020
F/23E [Member]
Trading Symbol	F/23E
Security Exchange Name	NYSE
Title of 12(b) Security	0.623% Notes due June 28, 2023*
F/25i [Member]
Trading Symbol	F/25I
Security Exchange Name	NYSE
Title of 12(b) Security	1.355% Notes due February 7, 2025*
F/24O [Member]
Trading Symbol	F/24O
Security Exchange Name	NYSE
Title of 12(b) Security	4.125% Notes due on June 20, 2024*
F/24M [Member]
Trading Symbol	F/24M
Security Exchange Name	NYSE
Title of 12(b) Security	3.021% Notes due March 6, 2024*
F/25K [Member]
Trading Symbol	F/25K
Security Exchange Name	NYSE
Title of 12(b) Security	4.535% Notes due March 6, 2025*
F/26N [Member]
Trading Symbol	F/26N
Security Exchange Name	NYSE
Title of 12(b) Security	3.350% Notes due Nine Months or More from the Date of Issue due August 20, 2026
F/23G [Member]
Trading Symbol	F/23G
Security Exchange Name	NYSE
Title of 12(b) Security	1.514% Notes due February 17, 2023*
F/26AB [Member]
Trading Symbol	F/26AB
Security Exchange Name	NYSE
Title of 12(b) Security	2.386% Notes due February 17, 2026*
F/24R [Member]
Trading Symbol	F/24R
Security Exchange Name	NYSE
Title of 12(b) Security	1.744% Notes due July 19, 2024*
F/25L [Member]
Trading Symbol	F/25L
Security Exchange Name	NYSE
Title of 12(b) Security	2.330% Notes due on November 25, 2025*
F/24Q [Member]
Trading Symbol	F/24Q
Security Exchange Name	NYSE
Title of 12(b) Security	3.683% Notes due on December 3, 2024*
F/19A [Member]
Trading Symbol	F/19A
Title of 12(b) Security	Floating Rate Notes due December 12, 2019*
F/19C [Member]
Trading Symbol	F/19C
Title of 12(b) Security	Floating Rate Notes due December 16, 2019*
F/21C [Member]
Trading Symbol	F/21C
Security Exchange Name	NYSE
Title of 12(b) Security	Floating Rate Notes due May 14, 2021*
F/24L [Member]
Trading Symbol	F/24L
Security Exchange Name	NYSE
Title of 12(b) Security	Floating Rate Notes due December 1, 2021*
F/21AQ [Member]
Trading Symbol	F/21AQ
Security Exchange Name	NYSE
Title of 12(b) Security	Floating Rate Notes due December 1, 2024*
F/22T [Member]
Trading Symbol	F/22T
Security Exchange Name	NYSE
Title of 12(b) Security	Floating Rate Notes due December 7, 2022*
F/23D [Member]
Trading Symbol	F/23D
Security Exchange Name	NYSE
Title of 12(b) Security	Floating Rate Notes due November 15, 2023*

Consolidated Income Statement

Consolidated Income Statement - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Financing revenue
Operating leases	$ 1,401	$ 1,472	$ 2,860	$ 2,949
Retail financing	941	987	1,917	1,971
Dealer financing	341	596	826	1,204
Other	27	26	49	50
Revenue from Contract with Customer, Excluding Assessed Tax	2,710	3,081	5,652	6,174
Depreciation on vehicles subject to operating leases	(990)	(894)	(2,042)	(1,818)
Interest expense	(839)	(1,114)	(1,823)	(2,235)
Net financing margin	881	1,073	1,787	2,121
Premiums Earned, Net	34	46	81	93
Other revenue
Fee based revenue and other	49	61	92	115
Total financing margin and other revenue	964	1,180	1,960	2,329
Operating expenses	305	350	667	714
Provision for credit losses	93	63	679	96
Insurance expenses	60	60	66	70
Total expenses	458	473	1,412	880
Other income, net	37	124	25	183
Income before income taxes	543	831	573	1,632
Provision for income taxes	136	218	145	416
Net income	$ 407	$ 613	$ 428	$ 1,216

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Net income	$ 407	$ 613	$ 428	$ 1,216
Other comprehensive income/(loss), net of tax
Foreign currency translation	87	8	(261)	28
Comprehensive income / (loss)	$ 494	$ 621	$ 167	$ 1,244

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Financing Receivable, Allowance for Credit Loss	$ 1,285	$ 513
ASSETS
Cash and cash equivalents	12,838	9,067
Marketable securities	5,036	3,296
Net Investment in Operating Leases	26,385	27,659
Finance receivables, net	103,918	114,317
Notes and accounts receivable from affiliated companies	874	863
Derivative financial instruments	2,640	1,128
Disposal Group, Including Discontinued Operation, Assets	50	1,698
Other assets	3,535	3,398
Total assets	155,276	161,426
Liabilities
Accounts Payable, Trade	1,059	1,002
Affiliated companies	542	421
Accounts Payable and Accrued Liabilities	1,601	1,423
Debt	135,267	140,029
Deferred income taxes	1,804	2,593
Derivative financial instruments	668	356
Disposal Group, Including Discontinued Operation, Other Liabilities	0	45
Other liabilities and deferred income	2,174	2,633
Total liabilities	141,514	147,079
SHAREHOLDER’S INTEREST	5,227	5,227
Shareholder's interest
Accumulated other comprehensive income	(1,046)	(785)
Retained earnings	9,581	9,905
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	13,762	14,347
Total liabilities and shareholder's interest	155,276	161,426
Variable Interest Entity, Primary Beneficiary [Member]
ASSETS
Cash and cash equivalents	3,204	3,202
Net Investment in Operating Leases	14,462	14,883
Finance receivables, net	49,806	58,478
Derivative financial instruments	1	12
Liabilities
Debt	45,908	50,865
Derivative financial instruments	94	19
Retail Installment loans, dealer financing, and other financing [Domain] [Member]
ASSETS
Finance receivables, net	96,418	106,131
Loans and Finance Receivables [Member]
ASSETS
Finance receivables, net	7,500	8,186
Property Subject to Operating Lease [Member]
ASSETS
Net Investment in Operating Leases	$ 26,385	$ 27,659

Consolidated Statement of Share

Consolidated Statement of Shareholder's Interest - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Shareholder's Interest [Roll Forward]
Net income	$ 407	$ 21	$ 613	$ 603	$ 428	$ 1,216
Other Comprehensive Income (Loss), Net of Tax	87	(348)	8	20
Distributions declared	275	275	650	675
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	13,762	13,543	14,894	14,923	13,762	14,894
Accounting Standards Update 2016-13 [Member]
Shareholder's Interest [Roll Forward]
Cumulative Effect of New Accounting Principle in Period of Adoption		(202)
Shareholder's Interest [Member]
Shareholder's Interest [Roll Forward]
Balance at beginning of period	5,227	5,227	5,227	5,227	5,227	5,227
Net income	0	0	0	0
Other Comprehensive Income (Loss), Net of Tax	0	0	0	0
Distributions declared	0	0	0	0
Balance at end of period	5,227	5,227	5,227	5,227	5,227	5,227
Shareholder's Interest [Member] | Accounting Standards Update 2016-13 [Member]
Shareholder's Interest [Roll Forward]
Cumulative Effect of New Accounting Principle in Period of Adoption		0
Accumulated Other Comprehensive Income/(Loss) (Note11) [Member]
Shareholder's Interest [Roll Forward]
Balance at beginning of period	(1,133)	(785)	(809)	(829)	(785)	(829)
Net income	0	0	0	0
Other Comprehensive Income (Loss), Net of Tax	87	(348)	8	20
Distributions declared	0	0	0	0
Balance at end of period	(1,046)	(1,133)	(801)	(809)	(1,046)	(801)
Accumulated Other Comprehensive Income/(Loss) (Note11) [Member] | Accounting Standards Update 2016-13 [Member]
Shareholder's Interest [Roll Forward]
Cumulative Effect of New Accounting Principle in Period of Adoption		0
Retained Earnings [Member]
Shareholder's Interest [Roll Forward]
Balance at beginning of period	9,449	9,905	10,505	10,577	9,905	10,577
Net income	407	21	613	603
Other Comprehensive Income (Loss), Net of Tax	0	0	0	0
Distributions declared	275	275	650	675
Balance at end of period	$ 9,581	9,449	$ 10,468	$ 10,505	$ 9,581	$ 10,468
Retained Earnings [Member] | Accounting Standards Update 2016-13 [Member]
Shareholder's Interest [Roll Forward]
Cumulative Effect of New Accounting Principle in Period of Adoption		$ (202)

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities
Net Income	$ 428	$ 1,216
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Provision for Other Credit Losses	679	96
Depreciation Depletion and Amortizations	2,436	2,214
Amortization Of Upfront Interest Supplements	(1,048)	(1,062)
Net Change in Finance Receivables Held-for-sale	(74)	0
Net change in deferred income taxes	(692)	82
Net change in other assets	(27)	(211)
Net change in other liabilities	(243)	571
All other operating activities	31	3
Net Cash Provided by (Used in) Operating Activities	1,490	2,909
Cash flows from investing activities
Purchases of finance receivables	(20,424)	(17,770)
Principal collections of finance receivables	19,377	20,888
Purchases of operating lease vehicles	(5,063)	(6,500)
Proceeds From Liquidations of Operating Lease Vehicles	4,022	4,734
Net change in wholesale receivables and other	9,953	896
Proceeds from Divestiture of Businesses	1,340	0
Purchases of marketable securities	(4,139)	(2,099)
Proceeds from sales and maturities of marketable securities	2,425	1,183
Settlements of derivatives	37	23
All other investing activities	(31)	(24)
Net Cash Provided by (Used in) Investing Activities	7,497	1,331
Cash flows from financing activities
Proceeds from issuances of long-term debt	20,146	24,983
Principal payments on long-term debt	(22,965)	(24,298)
Change in short-term debt, net	(1,668)	(565)
Cash distributions to parent	(550)	(1,325)
All other financing activities	(41)	(64)
Net Cash Provided by (Used in) Financing Activities	(5,078)	(1,269)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	(174)	24
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at January 1	9,268	9,747
Net increase/(decrease) in cash, cash equivalents, and restricted cash	3,735	2,995
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at March 31	$ 13,003	$ 12,742

Presentation Presentation (Note

Presentation Presentation (Notes)	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	PRESENTATION 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 Current Report on Form 8-K filed April 29, 2020 (“April 29, 2020 Form 8-K Report). We are an indirect, wholly owned subsidiary of Ford Motor Company (“Ford”). We reclassify certain prior period amounts in our consolidated financial statements to conform to current year presentation. Global Pandemic On March 11, 2020, the World Health Organization characterized the outbreak of COVID-19 as a global pandemic and recommended containment and mitigation measures. Since then, extraordinary actions were taken by international, federal, state, and local public health and governmental authorities to contain and combat the outbreak and spread of COVID-19 in regions throughout the world. These actions include travel bans, quarantines, “stay-at-home” orders, and similar mandates for many individuals to substantially restrict daily activities and for many businesses to curtail or cease normal operations. Although restrictions have been eased in many locations, some areas that had previously eased restrictions have reverted to more stringent limitations on daily activities. Consistent with the actions taken by governmental authorities, as of late March 2020, nearly all of our employees, other than in China, began working remotely in order to reduce the spread of COVID-19. As of June 2020, nearly all of our employees continue to work remotely. Our remote work arrangements have been designed to allow for continued operation of business functions, including originating and servicing customer contracts, financial reporting, and internal control. Our results include adjustments due to the impact of COVID-19, the most significant of which were a charge to the provision for credit losses of $ 46 million and $ 532 million during the second quarter and first half of 2020, respectively, and a gain (decrease) of $ 40 million and a charge (increase) of $ 14 million to depreciation expense during the second quarter and first half of 2020, respectively, for lower of cost or market adjustments related to our operating lease vehicles awaiting sale at auction. Our assessments of the effect of COVID-19 on our financial statements, including estimates, are based on a variety of factors and are subject to many uncertainties. See Notes 4 and 8 for additional information. The impact of the COVID-19 pandemic on our full year financial results will depend on future developments, such as the ultimate duration and scope of the outbreak, its impact on our customers, dealers, and suppliers, and the rate at which economic conditions return to pre-COVID-19 levels. Restructuring Actions Beginning in the fourth quarter of 2019, we determined that it was not probable that we would hold certain assets and liabilities for more than the following twelve months, and these assets and liabilities were reported as held-for-sale. The total value of our Assets held-for-sale presented at fair value at December 31, 2019 and June 30, 2020 were $ 1,698 million and $50 million , respectively, and Liabilities held-for-sale presented at fair value at December 31, 2019 and June 30, 2020 were $ 45 million and $0 million , respectively.

Accounting Policies

Accounting Policies	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Accounting Policies	ACCOUNTING POLICIES 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 infrequently occurring 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”) 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments. On January 1, 2020, we adopted the new credit loss standard and all of the related amendments, which replaced the incurred loss impairment method with a method that reflects lifetime expected credit losses. We adopted the changes in accounting for credit losses by recognizing the cumulative effect of initially applying the new credit loss standard as an adjustment to the opening balance of Retained earnings . The comparative information has not been restated and continues to be reported under the accounting standard in effect for those periods. The cumulative effect of the changes made to our consolidated balance sheet at January 1, 2020 for the adoption of ASU 2016-13 was as follows (in millions): Balance at December 31, 2019 Adjustments due to ASU 2016-13 Balance at January 1, 2020 Assets Retail installment contracts, dealer financing, and other financing $ 106,131 $ (230 ) $ 105,901 Finance leases 8,186 (22 ) 8,164 Other assets 3,398 (8 ) 3,390 Liabilities Deferred income tax 2,593 (58 ) 2,535 Equity Retained earnings 9,905 (202 ) 9,703 ASU 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting. On April 1, 2020, we adopted the new standard, which provides optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by reference rate reform (e.g., discontinuation of LIBOR), if certain criteria are met. As of June 30, 2020, we have not yet elected any optional expedients provided in the standard. We will apply the accounting relief as relevant contract and hedge accounting relationship modifications are made during the reference rate reform transition period and do not expect the standard to have a material impact on our consolidated financial statements. We also adopted the following ASUs during 2020 , none of which had a material impact to our financial statements or financial statement disclosures: ASU Effective Date 2020-01 Clarifying the Interaction between Equity Securities, Equity Method and Joint Ventures, and Derivatives and Hedging January 1, 2020 2018-18 Clarifying the Interaction between Collaborative Arrangements and Revenue from Contracts with Customers January 1, 2020 2018-15 Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract January 1, 2020 Accounting Standards Issued But Not Yet Adopted

Cash, Cash Equivalents, and Mar

Cash, Cash Equivalents, and Marketable Securities	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES	CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES The following table categorizes the fair values of cash, cash equivalents, and marketable securities measured at fair value on a recurring basis (in millions): Fair Value Level December 31, 2019 June 30, 2020 Cash and cash equivalents U.S. government 1 $ — $ 1,568 U.S. government and agencies 2 — 825 Non-U.S. government and agencies 2 350 1,352 Corporate debt 2 604 992 Total marketable securities classified as cash equivalents 954 4,737 Cash, time deposits and money market funds 8,113 8,101 Total cash and cash equivalents $ 9,067 $ 12,838 Marketable securities U.S. government 1 $ 195 $ 1,924 U.S. government and agencies 2 210 410 Non-U.S. government and agencies 2 2,408 2,215 Corporate debt 2 193 223 Other marketable securities 2 290 264 Total marketable securities $ 3,296 $ 5,036 Cash, Cash Equivalents, and Restricted Cash Cash, cash equivalents, and restricted cash as reported in the statements of cash flows are presented separately on our consolidated balance sheets as follows (in millions): December 31, 2019 June 30, 2020 Cash and cash equivalents $ 9,067 $ 12,838 Restricted cash included in other assets (a) 139 165 Cash, cash equivalents and restricted cash in assets held-for-sale 62 — Total cash, cash equivalents, and restricted cash $ 9,268 $ 13,003 __________ (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.

Finance Receivables

Finance Receivables	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
Financing Receivables	FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES We manage finance receivables as “consumer” and “non-consumer” portfolios. The receivables are generally secured by the vehicles, inventory, or other property being financed. Finance receivables are recorded at the time of origination or purchase at fair value and are subsequently reported at amortized cost, net of any allowance for credit losses. For all finance receivables, we define “past due” as any payment, including principal and interest, that is at least 31 days past the contractual due date. Total Finance Receivables, Net Total finance receivables, net were as follows (in millions): December 31, 2019 June 30, 2020 Consumer Retail installment contracts, gross $ 68,998 $ 70,857 Finance leases, gross 8,566 7,880 Retail financing, gross 77,564 78,737 Unearned interest supplements from Ford and affiliated companies (3,589 ) (3,844 ) Consumer finance receivables 73,975 74,893 Non-Consumer Dealer financing 38,910 28,460 Other financing 1,945 1,850 Non-Consumer finance receivables 40,855 30,310 Total recorded investment $ 114,830 $ 105,203 Recorded investment in finance receivables $ 114,830 $ 105,203 Allowance for credit losses (513 ) (1,285 ) Total finance receivables, net $ 114,317 $ 103,918 Net finance receivables subject to fair value (a) $ 106,131 $ 96,418 Fair value (b) 106,260 97,509 __________ (a) Net finance receivables subject to fair value exclude finance leases. (b) The fair value of finance receivables is categorized within Level 3 of the fair value hierarchy. Finance leases are comprised of sales-type and direct financing leases. Financing revenue from finance leases for the second quarter of 2019 and 2020 was $ 97 million and $ 77 million , respectively, and for the first half of 2019 and 2020 was $189 million and $172 million , respectively, and is included in Retail financing on the consolidated income statements. At December 31, 2019 and June 30, 2020 , accrued interest was $253 million and $218 million , respectively, which we report in Other assets on the consolidated balance sheets. Included in recorded investment in finance receivables were consumer and non-consumer receivables that have been sold for legal purposes in securitization transactions but continue to be reported in our consolidated financial statements. See Note 6 for additional information. The value of finance receivables considered held-for-sale at December 31, 2019 was $ 1.5 billion primarily made up of $ 1.2 billion of Forso Nordic AB related finance receivables. At June 30, 2020, there were $ 50 million of certain wholesale finance receivables specifically identified as held-for-sale. These held-for-sale values are reported in Assets held-for-sale on the consolidated balance sheets. See Note 1 for additional information. NOTE 4. FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Continued) Credit Quality Consumer Portfolio Credit quality ratings for consumer receivables are based on aging. Consumer receivables credit quality ratings are as follows: • Pass – current to 60 days past due; • Special Mention – 61 to 120 days past due and in intensified collection status; and • Substandard – greater than 120 days past due and for which the uncollectible portion of the receivables has already been charged off, as measured using the fair value of collateral less costs to sell. The credit quality analysis of consumer receivables at December 31, 2019 was as follows (in millions): Consumer 31-60 days past due $ 839 61-120 days past due 166 Greater than 120 days past due 35 Total past due 1,040 Current 72,935 Total $ 73,975 The credit quality analysis of consumer receivables at June 30, 2020 was as follows (in millions): Amortized Cost Basis by Origination Year Prior to 2016 2016 2017 2018 2019 2020 Total Consumer 31-60 days past due $ 45 $ 60 $ 98 $ 135 $ 124 $ 31 $ 493 61-120 days past due 9 17 33 44 40 10 153 Greater than 120 days past due 14 7 8 9 6 — 44 Total past due 68 84 139 188 170 41 690 Current 1,631 4,202 9,593 17,475 24,430 16,872 74,203 Total $ 1,699 $ 4,286 $ 9,732 $ 17,663 $ 24,600 $ 16,913 $ 74,893 NOTE 4. FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Continued) Non-Consumer Portfolio We use a proprietary model to assign each dealer a risk rating. This model uses historical dealer performance data to identify key factors about a dealer that we consider most significant in predicting a dealer’s ability to meet its financial obligations. We also consider numerous other financial and qualitative factors of the dealer’s operations, including capitalization and leverage, liquidity and cash flow, profitability, and credit history with ourselves and other creditors. The credit quality of dealer financing receivables is evaluated based on our internal dealer risk rating analysis. Dealers are assigned to one of four groups according to risk ratings as follows: • Group I – strong to superior financial metrics; • Group II – fair to favorable financial metrics; • Group III – marginal to weak financial metrics; and • Group IV – poor financial metrics, including dealers classified as uncollectible. The credit quality analysis of dealer financing receivables at December 31, 2019 was as follows (in millions): Dealer financing Group I $ 31,206 Group II 5,407 Group III 2,108 Group IV 189 Total (a) $ 38,910 __________ (a) Total past due dealer financing receivables at December 31, 2019 were $ 62 million . The credit quality analysis of dealer financing receivables at June 30, 2020 was as follows (in millions): Amortized Cost Basis by Origination Year Prior to 2016 2016 2017 2018 2019 2020 Total Wholesale Loans Total Group I $ 608 $ 132 $ 159 $ 221 $ 98 $ 237 $ 1,455 $ 19,378 $ 20,833 Group II 38 32 17 18 7 72 184 5,317 5,501 Group III 9 — 4 17 6 28 64 1,908 1,972 Group IV 2 3 — — 2 4 11 143 154 Total (a) $ 657 $ 167 $ 180 $ 256 $ 113 $ 341 $ 1,714 $ 26,746 $ 28,460 __________ (a) Total past due dealer financing receivables at June 30, 2020 were $ 143 million . Non-Accrual of Revenue. The accrual of financing revenue is discontinued at the time a receivable is determined to be uncollectible or when it is 90 days past due. Accounts may be restored to accrual status only when a customer settles all past-due deficiency balances and future payments are reasonably assured. For receivables in non-accrual status, subsequent financing revenue is recognized only to the extent a payment is received. Payments are generally applied first to outstanding interest and then to the unpaid principal balance. NOTE 4. FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Continued) Troubled Debt Restructuring (“TDR”). 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. We have offered various programs to provide relief to customers and dealers impacted by COVID-19. These programs, which were broadly available to our customers and dealers, included payment extensions. We concluded that these programs did not meet TDR criteria. As of June 30, 2020, in the United States we have received payments on 88% of the pandemic extensions offered to our customers, and no dealers are delinquent on their payments. Allowance for Credit Losses The allowance for credit losses represents our estimate of the lifetime expected credit losses inherent in finance receivables as of the balance sheet date. Additions to the allowance for credit losses are made by recording charges to the Provision for credit losses on our consolidated income statements. The uncollectible portion of a finance receivable is charged to the allowance for credit losses at the earlier of when an account is deemed to be uncollectible or when an account is 120 days delinquent, taking into consideration the financial condition of the customer or borrower, the value of the collateral, recourse to guarantors, and other factors. Charge-offs on finance receivables include uncollected amounts related to principal, interest, late fees, and other allowable charges. Recoveries on finance receivables previously charged off as uncollectible are credited to the allowance for credit losses. In the event we repossess the collateral, the receivable is charged off and we record the collateral at its estimated fair value less costs to sell and report it in Other assets on the consolidated balance sheets. Consumer Portfolio Receivables in this portfolio include products offered to individuals and businesses that finance the acquisition of Ford and Lincoln vehicles from dealers for personal or commercial use. Retail financing includes retail installment contracts for new and used vehicles and finance leases with retail customers, government entities, daily rental companies, and fleet customers. For consumer receivables that share similar risk characteristics such as product type, initial credit risk, term, vintage, geography, and other relevant factors, we estimate the lifetime expected credit loss allowance based on a collective assessment using measurement models and management judgment. The lifetime expected credit losses for the receivables is determined by applying probability of default and loss given default models to monthly expected exposures then discounting these cash flows to present value using the receivable’s original effective interest rate or the current effective interest rate for a variable rate receivable. Probability of default models are developed from internal risk scoring models taking into account the expected probability of payment and time to default, adjusted for macroeconomic outlook and recent performance. The models consider factors such as risk evaluation at the time of origination, historical trends in credit losses (which include the impact of TDRs), and the composition and recent performance of the present portfolio (including vehicle brand, term, risk evaluation, and new / used vehicles). The loss given default is the percentage of the expected balance due at default that is not recoverable, taking into account the expected collateral value and trends in recoveries (including key metrics such as delinquencies, repossessions, and bankruptcies). Monthly exposures are equal to the receivables’ expected outstanding principal and interest balance. NOTE 4. FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Continued) The loss allowance incorporates forward-looking macroeconomic conditions for baseline, upturn, and downturn scenarios. Three separate credit loss allowances are calculated from these scenarios. They are then probability-weighted to determine the credit loss allowance recognized in the financial statements. We use forecasts from a third party that revert to a long-term historical average after a reasonable and supportable forecasting period which is specific to the particular macroeconomic variable and which varies by market. We update the forward-looking macroeconomic forecasts quarterly. If management does not believe the models reflect lifetime expected credit losses for the portfolio, an adjustment is made to reflect management judgment regarding observable changes in recent or expected economic trends and conditions, portfolio composition, and other relevant factors. On an ongoing basis, we review our models, including macroeconomic factors, the selection of macroeconomic scenarios, and their weighting to ensure they reflect the risk of the portfolio. Non-Consumer Portfolio Dealer financing includes wholesale loans to dealers to finance vehicle inventory, also known as floorplan financing, as well as loans to dealers to finance working capital, improvements to dealership facilities, the purchase of dealership real estate, and other dealer programs. Dealer financing is evaluated on an individual dealer basis by segmenting dealers by risk characteristics (such as the amount of the loans, the nature of the collateral, the financial status of the dealer, and any TDR modifications) to determine if an individual dealer requires a specific allowance for credit loss. If required, the allowance is based on the present value of the expected future cash flows of the dealer’s receivables discounted at the loans’ original effective interest rate or the fair value of the collateral adjusted for estimated costs to sell. For the remaining dealer financing, we estimate an allowance for credit losses on a collective basis. Wholesale Loans. We estimate the allowance for credit losses for wholesale loans based on historical loss-to-receivable (LTR) ratios, expected future cash flows, and the fair value of collateral. For wholesale loans with similar risk characteristics, the allowance for credit losses is estimated on a collective basis using the LTR model and management judgment. The LTR model is based on the most recent years of history. An LTR is calculated by dividing credit losses (i.e., charge-offs net of recoveries) by average net finance receivables, excluding unearned interest supplements and allowance for credit losses. The average LTR is multiplied by the end-of-period balances, representing the lifetime expected credit loss reserve. Dealer Loans . We use a weighted-average remaining maturity method to estimate the lifetime expected credit loss reserve for dealer loans. The loss model is based on the industry-wide commercial real estate credit losses, adjusted to factor in the historical credit losses for our dealer loans portfolio. The expected credit loss is calculated under different economic scenarios that are weighted to provide the total lifetime expected credit loss. After establishing the collective and specific allowance for credit losses, if management believes the allowance does not reflect all losses inherent in the portfolio due to changes in recent economic trends and conditions, or other relevant forward-looking economic factors, an adjustment is made based on management judgment. NOTE 4. FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Continued) An analysis of the allowance for credit losses related to finance receivables for the periods ended June 30 was as follows (in millions): Second Quarter 2019 (a) First Half 2019 (a) Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 496 $ 17 $ 513 $ 566 $ 23 $ 589 Charge-offs (117 ) — (117 ) (254 ) (17 ) (271 ) Recoveries 45 6 51 88 8 96 Provision for credit losses 70 (7 ) 63 94 2 96 Other 2 1 3 2 1 3 Ending balance $ 496 $ 17 $ 513 $ 496 $ 17 $ 513 __________ (a) The comparative information has not been restated and continues to be reported under the accounting standard in effect during 2019. Second Quarter 2020 First Half 2020 Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 1,157 $ 74 $ 1,231 $ 496 $ 17 $ 513 Adoption of ASU 2016-13 (a) — — — 247 5 252 Charge-offs (b) (80 ) — (80 ) (225 ) (1 ) (226 ) Recoveries (b) 33 1 34 76 3 79 Provision for credit losses 94 (1 ) 93 628 51 679 Other (c) 7 — 7 (11 ) (1 ) (12 ) Ending balance $ 1,211 $ 74 $ 1,285 $ 1,211 $ 74 $ 1,285 __________ (a) Cumulative pre-tax adjustments recorded to retained earnings as of January 1, 2020. See Note 2 for additional information. (b) Charge-offs and recoveries were lower in the second quarter of 2020 reflecting program extensions and decision to temporarily suspend involuntary repossessions due to COVID-19. (c) Primarily represents amounts related to translation adjustments. During the second quarter and first half of 2020, the allowance for credit losses increased $54 million and $772 million, respectively. The change in the second quarter reflects an increase of $46 million, primarily attributable to COVID-19, and an increase for translation adjustments. The change in the first half reflects an increase to the reserve of $ 252 million related to the adoption of ASU 2016-13 and an increase of $ 532 million , primarily attributable to COVID-19, offset by a decrease for translation adjustments. The first half change to the reserve reflects economic uncertainty which, along with the expectation of continued higher unemployment, is expected to increase the probability of default and loss given default rates in our consumer portfolio, especially in the United States. These economic trends and conditions are also expected to negatively impact our dealers. The relatively moderate reserve increase in the second quarter reflects our view that future economic conditions are largely unchanged from our assumptions at March 31, 2020. Although net charge-offs during the second quarter and first half of 2020 remained low, reflecting government relief programs, our customer payment deferral programs, and our decision to temporarily suspend involuntary repossessions, the future impact of COVID-19 on credit losses is expected to be adverse.

Net Investments in Operating Le

Net Investments in Operating Leases	6 Months Ended
	Jun. 30, 2020
Leases, Operating [Abstract]
NET INVESTMENT IN OPERATING LEASES	NET INVESTMENT IN OPERATING LEASES Net investment in operating leases consists primarily of lease contracts for vehicles with individuals, daily rental companies, and fleet customers with terms of 60 months or less . Included in Net investment in operating leases are net investments in operating leases sold for legal purposes in securitization transactions but continue to be reported in our consolidated financial statements. See Note 6 for additional information. Net investment in operating leases was as follows (in millions): December 31, June 30, Vehicles, at cost (a) $ 33,431 $ 32,660 Accumulated depreciation (5,772 ) (6,275 ) Net investment in operating leases $ 27,659 $ 26,385 __________ (a) Includes interest supplements and residual support payments we receive on certain leasing transactions under agreements with Ford and affiliated companies, and other vehicle acquisition costs. We evaluate the carrying value of held-and-used long-lived asset groups (such as vehicles subject to operating leases) for potential impairment when we determine a triggering event has occurred. When a triggering event occurs, a test for recoverability is performed by comparing projected undiscounted future cash flows to the carrying value of the asset group. If the test for recoverability identifies a possible impairment, the asset group’s fair value is measured in accordance with the fair value measurement framework. An impairment charge is recognized for the amount by which the carrying value of the asset group exceeds its estimated fair value. For the second quarter of 2020, we considered the economic slowdown resulting from COVID-19 and determined a triggering event has not occurred. For the periods presented, we have not recorded any impairment charges.

Transfers of Receivables

Transfers of Receivables	6 Months Ended
	Jun. 30, 2020
Transfers and Servicing [Abstract]
TRANSFERS OF RECEIVABLES	NOTE 6. TRANSFERS OF RECEIVABLES AND VARIABLE INTEREST ENTITIES 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 primarily in the United States, Canada, the United Kingdom, Germany, 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. The debt is the obligation of our consolidated securitization entities and not the obligation of Ford Credit or our other subsidiaries. We use special purpose entities to issue asset-backed securities in our securitization transactions. We have deemed most of these special purpose entities to be VIEs of which we are the primary beneficiary. 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. TRANSFERS OF RECEIVABLES AND 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. Securitization transactions that are exposed to interest rate or currency risk may reduce their risks by entering into derivative transactions. In certain instances, we have entered into derivative transactions with the counterparty to protect the counterparty from risks absorbed through its derivative transactions with the securitization entities. See Note 7 for additional information regarding derivatives. Most of these securitization transactions utilize VIEs. The following tables show the assets and debt related to our securitization transactions that were included in our financial statements (in billions): December 31, 2019 Cash and Cash Equivalents Finance Receivables and Net Investment in Operating Leases (a) Related Debt (c) Before Allowance Allowance for After Allowance VIE (b) Retail financing $ 1.8 $ 32.6 $ 0.2 $ 32.4 $ 28.0 Wholesale financing 0.9 26.1 — 26.1 13.4 Finance receivables 2.7 58.7 0.2 58.5 41.4 Net investment in operating leases 0.5 14.9 — 14.9 9.5 Total VIE $ 3.2 $ 73.6 $ 0.2 $ 73.4 $ 50.9 Non-VIE Retail financing $ 0.3 $ 5.7 $ — $ 5.7 $ 5.1 Wholesale financing — 0.7 — 0.7 0.6 Finance receivables 0.3 6.4 — 6.4 5.7 Net investment in operating leases — — — — — Total Non-VIE $ 0.3 $ 6.4 $ — $ 6.4 $ 5.7 Total securitization transactions Retail financing $ 2.1 $ 38.3 $ 0.2 $ 38.1 $ 33.1 Wholesale financing 0.9 26.8 — 26.8 14.0 Finance receivables 3.0 65.1 0.2 64.9 47.1 Net investment in operating leases 0.5 14.9 — 14.9 9.5 Total securitization transactions $ 3.5 $ 80.0 $ 0.2 $ 79.8 $ 56.6 __________ (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. (c) Includes unamortized discount and debt issuance costs. NOTE 6. TRANSFERS OF RECEIVABLES AND VARIABLE INTEREST ENTITIES (Continued) June 30, 2020 Cash and Cash Equivalents Finance Receivables and Net Investment in Operating Leases (a) Related Debt (c) Before Allowance for Credit Losses Allowance for Credit Losses After Allowance for Credit Losses VIE (b) Retail financing $ 1.8 $ 33.0 $ 0.4 $ 32.6 $ 26.2 Wholesale financing 0.7 17.2 — 17.2 10.4 Finance receivables 2.5 50.2 0.4 49.8 36.6 Net investment in operating leases 0.7 14.5 — 14.5 9.3 Total VIE $ 3.2 $ 64.7 $ 0.4 $ 64.3 $ 45.9 Non-VIE Retail financing $ 0.4 $ 9.1 $ 0.1 $ 9.0 $ 8.3 Wholesale financing — 0.6 — 0.6 0.3 Finance receivables 0.4 9.7 0.1 9.6 8.6 Net investment in operating leases — — — — — Total Non-VIE $ 0.4 $ 9.7 $ 0.1 $ 9.6 $ 8.6 Total securitization transactions Retail financing $ 2.2 $ 42.1 $ 0.5 $ 41.6 $ 34.5 Wholesale financing 0.7 17.8 — 17.8 10.7 Finance receivables 2.9 59.9 0.5 59.4 45.2 Net investment in operating leases 0.7 14.5 — 14.5 9.3 Total securitization transactions $ 3.6 $ 74.4 $ 0.5 $ 73.9 $ 54.5 __________ (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. (c) Includes unamortized discount and debt issuance cost.

Derivative Financial Instrument

Derivative Financial Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2020
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, reported in income for the periods ended June 30 were as follows (in millions): Second Quarter First Half 2019 2020 2019 2020 Fair value hedges Interest rate contracts Net interest settlements and accruals on hedging instruments $ (12 ) $ 68 $ (32 ) $ 96 Fair value changes on hedging instruments 474 112 724 1,222 Fair value changes on hedged debt (463 ) (98 ) (716 ) (1,191 ) Derivatives not designated as hedging instruments Interest rate contracts (3 ) (12 ) (30 ) (86 ) Foreign currency exchange contracts (a) 40 (41 ) 34 166 Cross-currency interest rate swap contracts 141 154 (4 ) 3 Total $ 177 $ 183 $ (24 ) $ 210 __________ (a) Reflects forward contracts between Ford Credit and an affiliated company. Balance Sheet Effect of Derivative Financial Instruments Derivative assets and liabilities are reported on the balance sheets at fair value and are presented on a gross basis. The notional amounts of the derivative instruments do not necessarily represent amounts exchanged by the parties and are not a direct measure of our financial exposure. We also enter into master agreements with counterparties that may allow for netting of exposures in the event of default or breach of the counterparty agreement. Collateral represents cash received or paid under reciprocal arrangements that we have entered into with our derivative counterparties which we do not use to offset our derivative assets and liabilities. The fair value of our derivative instruments and the associated notional amounts were as follows (in millions): December 31, 2019 June 30, 2020 Notional Fair Value of Assets Fair Value of Liabilities Notional Fair Value of Assets Fair Value of Liabilities Fair value hedges Interest rate contracts $ 26,577 $ 702 $ 19 $ 24,434 $ 1,682 $ — Derivatives not designated as hedging instruments Interest rate contracts 68,914 275 191 71,075 752 573 Foreign currency exchange contracts 5,540 17 79 3,524 43 42 Cross-currency interest rate swap contracts 5,849 134 67 5,611 163 53 Total derivative financial instruments, gross (a) (b) $ 106,880 $ 1,128 $ 356 $ 104,644 $ 2,640 $ 668 __________ (a) At December 31, 2019 and June 30, 2020 , we held collateral of $18 million and $20 million , respectively, and we posted collateral of $78 million and $91 million , respectively. (b) At December 31, 2019 and June 30, 2020 , the fair value of assets and liabilities available for counterparty netting was $169 million and $337

Other Assets and Other Liabilit

Other Assets and Other Liabilities and Deferred Income	6 Months Ended
	Jun. 30, 2020
Other Assets and Other Liabilities and Deferred Income [Abstract]
OTHER ASSETS AND OTHER LIABILITIES AND DEFERRED INCOME	OTHER ASSETS AND OTHER LIABILITIES AND DEFERRED REVENUE Other assets and other liabilities and deferred revenue 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): December 31, June 30, Collateral held for resale, at net realizable value $ 843 $ 994 Accrued interest and other non-finance receivables 898 875 Prepaid reinsurance premiums and other reinsurance recoverables 687 695 Property and equipment, net of accumulated depreciation (a) 212 212 Deferred charges - income taxes 171 153 Investment in non-consolidated affiliates (b) 132 122 Operating lease assets 108 107 Other 347 377 Total other assets $ 3,398 $ 3,535 __________ (a) Accumulated depreciation was $393 million and $404 million at December 31, 2019 and June 30, 2020 , respectively. (b) Adoption of ASU 2016-13 reduced investment in non-consolidated affiliates $8 million . See Note 2 for additional information. Returned operating lease vehicles and repossessed vehicles are classified as collateral held for resale and recorded at net realizable value. Based on sales during the second quarter of 2020, we released the unused portion of our valuation adjustment related to COVID-19 that was recorded in the first quarter. Other liabilities and deferred revenue were as follows (in millions): December 31, June 30, Unearned insurance premiums and fees $ 806 $ 811 Interest payable 888 739 Income tax and related interest (a) 433 173 Operating lease liabilities 110 109 Deferred revenue 110 95 Other 286 247 Total other liabilities and deferred revenue $ 2,633 $ 2,174 __________ (a) Includes tax and interest payable to affiliated companies of $ 294 million and $ 38 million at December 31, 2019 and June 30, 2020 , respectively.

Debt

Debt	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	DEBT Debt outstanding and interest rates were as follows (in millions): Interest Rates Debt Average Contractual Average Effective December 31, June 30, 2019 2020 2019 2020 Short-term debt Unsecured debt Floating rate demand notes $ 6,545 $ 5,910 Commercial paper 3,560 1,793 Other short-term debt 2,731 3,186 Asset-backed debt (a) 881 792 Total short-term debt 13,717 11,681 2.8 % 2.0 % 2.8 % 2.0 % Long-term debt Unsecured debt Notes payable within one year 15,062 18,567 Notes payable after one year 55,148 49,711 Asset-backed debt (a) Notes payable within one year 23,609 22,997 Notes payable after one year 32,162 30,794 Unamortized (discount) / premium 7 5 Unamortized issuance costs (214 ) (205 ) Fair value adjustments (b) 538 1,717 Total long-term debt 126,312 123,586 3.0 % 2.7 % 3.0 % 2.7 % Total debt $ 140,029 $ 135,267 2.9 % 2.7 % 3.0 % 2.7 % Fair value of debt (c) $ 141,678 $ 132,836 __________ (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) These adjustments relate to fair value hedges. The carrying value of hedged debt was $39.4 billion and $42.5 billion at December 31, 2019 and June 30, 2020 , respectively. (c) The fair value of debt includes $12.8 billion and $10.9 billion of short-term debt at December 31, 2019 and June 30, 2020

Other Income, Net

Other Income, Net	3 Months Ended
	Mar. 31, 2020
Other Income and Expenses [Abstract]
OTHER INCOME, NET	OTHER INCOME / (LOSS), NET Other income / (loss) consists of various line items that are combined on the income statements due to their respective materiality compared with other individual income and expense items. The amounts included in Other income / (loss), net for the periods ended June 30 were as follows (in millions): Second Quarter First Half 2019 2020 2019 2020 Gains / (Losses) on derivatives $ 178 $ 101 $ — $ 83 Currency revaluation gains / (losses) (147 ) (108 ) (16 ) (169 ) Interest and investment income 83 27 162 90 Other 10 17 37 21 Total other income / (loss), net $ 124 $ 37 $ 183 $ 25

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION We conduct our financing operations directly and indirectly through our subsidiaries and affiliates. We offer substantially similar products and services throughout many different regions, subject to local legal restrictions and market conditions. As of January 1, 2020, we updated our reportable segments in our consolidated financial statements to align with our new management reporting structure and reflect the manner in which our Chief Operating Decision Maker manages our business, including resource allocation and performance assessment. These segments are: the United States and Canada, Europe, and All Other. Our All Other segment includes China, India, Mexico, Brazil, Argentina, and our joint venture in South Africa. Items excluded in assessing segment performance because they are managed at the corporate level, including market valuation adjustments to derivatives and exchange-rate fluctuations on foreign currency-denominated transactions, are reflected in Unallocated Other. NOTE 11. SEGMENT INFORMATION (Continued) Key financial information for our business segments for the periods ended or at June 30 was as follows (in millions): United States and Canada Europe All Other Total Segments Unallocated Other (a) Total Second Quarter 2019 (b) Total revenue $ 2,716 $ 307 $ 165 $ 3,188 $ — $ 3,188 Income before income taxes 589 113 37 739 92 831 Other disclosures: Depreciation on vehicles subject to operating leases 885 9 — 894 — 894 Interest expense 939 86 91 1,116 (2 ) 1,114 Provision for credit losses 48 7 8 63 — 63 Second Quarter 2020 Total revenue $ 2,448 $ 244 $ 101 $ 2,793 $ — $ 2,793 Income before income taxes 445 65 17 527 16 543 Other disclosures: Depreciation on vehicles subject to operating leases 990 — — 990 — 990 Interest expense 726 82 55 863 (24 ) 839 Provision for credit losses 76 14 3 93 — 93 First Half 2019 (b) Total revenue $ 5,427 $ 610 $ 345 $ 6,382 $ — $ 6,382 Income before income taxes 1,211 227 95 1,533 99 1,632 Other disclosures: Depreciation on vehicles subject to operating leases 1,797 21 — 1,818 — 1,818 Interest expense 1,870 166 193 2,229 6 2,235 Provision for credit losses 88 12 (4 ) 96 — 96 Net finance receivables and net investment in operating leases 118,990 27,224 5,708 151,922 (8,443 ) 143,479 Total assets 127,482 30,094 6,442 164,018 — 164,018 First Half 2020 Total revenue $ 5,079 $ 525 $ 221 $ 5,825 $ — $ 5,825 Income before income taxes 467 82 24 573 — 573 Other disclosures: Depreciation on vehicles subject to operating leases 2,029 13 — 2,042 — 2,042 Interest expense 1,571 172 120 1,863 (40 ) 1,823 Provision for credit losses 596 67 16 679 — 679 Net finance receivables and net investment in operating leases (c) 111,775 23,659 3,949 139,383 (9,080 ) 130,303 Total assets 124,375 26,091 4,810 155,276 — 155,276 __________ (a) Finance receivables, net and Net investment in operating lease includes unearned interest supplements and residual support, allowance for credit losses, and other (primarily accumulated supplemental depreciation). (b) Comparative information has been updated to reflect the reportable segments as of January 1, 2020. (c) Excludes held-for-sale finance receivables.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Commitments and contingencies primarily consist of lease commitments, guarantees and indemnifications, and litigation and claims. Lease Commitments We lease various land, buildings, and equipment under agreements that expire over various contractual periods ranging from less than one year to 31 years. Many of our leases contain one or more options to extend. We include options that we are reasonably certain to exercise in our evaluation of the lease term after considering all relevant economic and financial factors. The leased assets and liabilities are reported in Other assets and Other liabilities and deferred revenue , respectively, on our consolidated balance sheets. Guarantees and Indemnifications Guarantees and indemnifications are recorded at fair value at their inception. For financial guarantees, subsequent to initial recognition, the guarantee liability is adjusted at each reporting period to reflect the current estimate of expected payments resulting from possible default events over the remaining life of the guarantee. The probability of default is applied to the expected exposure at the time of default less recoveries to determine the expected payments. Factors to consider when estimating the probability of default include the obligor’s financial position, forecasted economic environment, historical loss rates, and other communications. For non-financial guarantees, we regularly review our performance risk under these arrangements, and in the event it becomes probable we will be required to perform under a guarantee or indemnity, the amount of probable payment is recorded. The maximum potential payments under these guarantees and limited indemnities totaled $53 million and $126 million at December 31, 2019 and June 30, 2020 , respectively. Of these values, $ 48 million and $49 million at December 31, 2019 and June 30, 2020 , respectively, were counter-guaranteed by Ford to us. There were no recorded liabilities related to guarantees and limited indemnities at December 31, 2019 or June 30, 2020 . 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 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 a third-party claim. While some of these indemnifications are limited in nature, many of them do not limit potential payment. Therefore, we are unable to estimate a maximum amount of future payments that could result from claims made under these unlimited indemnities. NOTE 12. COMMITMENTS AND CONTINGENCIES (Continued) Litigation and Claims Various legal actions, proceedings, and claims (generally, “matters”) are pending or may be instituted or asserted against us. These include, but are not limited to, matters arising out of 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. For nearly all 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 and could require us to pay damages or make other expenditures. On January 9, 2019, FCE Bank plc (“FCE”) received a decision from the Italian Competition Authority, which included an assessment of a fine against FCE in the amount of € 42 million (equivalent to $46.5 million at June 30, 2020). On March 8, 2019, FCE appealed the decision and the fine, and a hearing has been scheduled for October 21, 2020. The ultimate resolution of the matter potentially taking several years. While we have determined that an adverse outcome is not probable, the reasonably possible loss could be up to the fine amount.

Accounting Policies (Policies)

Accounting Policies (Policies)	3 Months Ended	6 Months Ended
	Mar. 31, 2020	Jun. 30, 2020
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. 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 Current Report on Form 8-K filed April 29, 2020 (“April 29, 2020 Form 8-K Report). We are an indirect, wholly owned subsidiary of Ford Motor Company (“Ford”). We reclassify certain prior period amounts in our consolidated financial statements to conform to current year presentation.
Reclassifications [Abstract]
Income Tax, Policy [Policy Text Block]		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 infrequently occurring 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]
Financing Receivable [Policy Text Block]	Non-Accrual of Revenue. The accrual of financing revenue is discontinued at the time a receivable is determined to be uncollectible or when it is 90 days past due. Accounts may be restored to accrual status only when a customer settles all past-due deficiency balances and future payments are reasonably assured. For receivables in non-accrual status, subsequent financing revenue is recognized only to the extent a payment is received. Payments are generally applied first to outstanding interest and then to the unpaid principal balance. NOTE 4. FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Continued) Troubled Debt Restructuring (“TDR”). 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.
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]
Lessee, Leases [Policy Text Block]		Net investment in operating leases consists primarily of lease contracts for vehicles with individuals, daily rental companies, and fleet customers with terms of 60 months or less . Included in Net investment in operating leases are net investments in operating leases sold for legal purposes in securitization transactions but continue to be reported in our consolidated financial statements. See Note 6 for additional information.
Guarantees and Indemnifications Policies [Policy Text Block]	Guarantees and indemnifications are recorded at fair value at their inception. For financial guarantees, subsequent to initial recognition, the guarantee liability is adjusted at each reporting period to reflect the current estimate of expected payments resulting from possible default events over the remaining life of the guarantee. The probability of default is applied to the expected exposure at the time of default less recoveries to determine the expected payments. Factors to consider when estimating the probability of default include the obligor’s financial position, forecasted economic environment, historical loss rates, and other communications. For non-financial guarantees, 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.

Cash, Cash Equivalents, and M_2

Cash, Cash Equivalents, and Marketable Securities (Tables)	6 Months Ended
	Jun. 30, 2020
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 cash, cash equivalents, and marketable securities measured at fair value on a recurring basis (in millions): Fair Value Level December 31, 2019 June 30, 2020 Cash and cash equivalents U.S. government 1 $ — $ 1,568 U.S. government and agencies 2 — 825 Non-U.S. government and agencies 2 350 1,352 Corporate debt 2 604 992 Total marketable securities classified as cash equivalents 954 4,737 Cash, time deposits and money market funds 8,113 8,101 Total cash and cash equivalents $ 9,067 $ 12,838 Marketable securities U.S. government 1 $ 195 $ 1,924 U.S. government and agencies 2 210 410 Non-U.S. government and agencies 2 2,408 2,215 Corporate debt 2 193 223 Other marketable securities 2 290 264 Total marketable securities $ 3,296 $ 5,036
Schedule of cash, cash equivalents and restricted cash [Table Text Block]	Cash, cash equivalents, and restricted cash as reported in the statements of cash flows are presented separately on our consolidated balance sheets as follows (in millions): December 31, 2019 June 30, 2020 Cash and cash equivalents $ 9,067 $ 12,838 Restricted cash included in other assets (a) 139 165 Cash, cash equivalents and restricted cash in assets held-for-sale 62 — Total cash, cash equivalents, and restricted cash $ 9,268 $ 13,003 __________ (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.

Finance Receivables (Tables)

Finance Receivables (Tables)	3 Months Ended
	Mar. 31, 2020
Financing Receivables [Line Items]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	Total finance receivables, net were as follows (in millions): December 31, 2019 June 30, 2020 Consumer Retail installment contracts, gross $ 68,998 $ 70,857 Finance leases, gross 8,566 7,880 Retail financing, gross 77,564 78,737 Unearned interest supplements from Ford and affiliated companies (3,589 ) (3,844 ) Consumer finance receivables 73,975 74,893 Non-Consumer Dealer financing 38,910 28,460 Other financing 1,945 1,850 Non-Consumer finance receivables 40,855 30,310 Total recorded investment $ 114,830 $ 105,203 Recorded investment in finance receivables $ 114,830 $ 105,203 Allowance for credit losses (513 ) (1,285 ) Total finance receivables, net $ 114,317 $ 103,918 Net finance receivables subject to fair value (a) $ 106,131 $ 96,418 Fair value (b) 106,260 97,509 __________ (a) Net finance receivables subject to fair value exclude finance leases. (b) The fair value of finance receivables is categorized within Level 3 of the fair value hierarchy.
Schedule of Aging Analysis for Total Finance Receivables [Table Text Block]	The credit quality analysis of consumer receivables at December 31, 2019 was as follows (in millions): Consumer 31-60 days past due $ 839 61-120 days past due 166 Greater than 120 days past due 35 Total past due 1,040 Current 72,935 Total $ 73,975 The credit quality analysis of consumer receivables at June 30, 2020 was as follows (in millions): Amortized Cost Basis by Origination Year Prior to 2016 2016 2017 2018 2019 2020 Total Consumer 31-60 days past due $ 45 $ 60 $ 98 $ 135 $ 124 $ 31 $ 493 61-120 days past due 9 17 33 44 40 10 153 Greater than 120 days past due 14 7 8 9 6 — 44 Total past due 68 84 139 188 170 41 690 Current 1,631 4,202 9,593 17,475 24,430 16,872 74,203 Total $ 1,699 $ 4,286 $ 9,732 $ 17,663 $ 24,600 $ 16,913 $ 74,893
Non-Consumer Segment [Member]
Financing Receivables [Line Items]
Schedule of Financing Receivable Credit Quality Indicators [Table Text Block]	The credit quality analysis of dealer financing receivables at December 31, 2019 was as follows (in millions): Dealer financing Group I $ 31,206 Group II 5,407 Group III 2,108 Group IV 189 Total (a) $ 38,910 __________ (a) Total past due dealer financing receivables at December 31, 2019 were $ 62 million . The credit quality analysis of dealer financing receivables at June 30, 2020 was as follows (in millions): Amortized Cost Basis by Origination Year Prior to 2016 2016 2017 2018 2019 2020 Total Wholesale Loans Total Group I $ 608 $ 132 $ 159 $ 221 $ 98 $ 237 $ 1,455 $ 19,378 $ 20,833 Group II 38 32 17 18 7 72 184 5,317 5,501 Group III 9 — 4 17 6 28 64 1,908 1,972 Group IV 2 3 — — 2 4 11 143 154 Total (a) $ 657 $ 167 $ 180 $ 256 $ 113 $ 341 $ 1,714 $ 26,746 $ 28,460 __________ (a) Total past due dealer financing receivables at June 30, 2020 were $ 143 million .

Finance Receivables and Allowan

Finance Receivables and Allowance for Credit Losses Allowance for Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2020
Financing Receivable, Allowance for Credit Loss [Table Text Block]	An analysis of the allowance for credit losses related to finance receivables for the periods ended June 30 was as follows (in millions): Second Quarter 2019 (a) First Half 2019 (a) Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 496 $ 17 $ 513 $ 566 $ 23 $ 589 Charge-offs (117 ) — (117 ) (254 ) (17 ) (271 ) Recoveries 45 6 51 88 8 96 Provision for credit losses 70 (7 ) 63 94 2 96 Other 2 1 3 2 1 3 Ending balance $ 496 $ 17 $ 513 $ 496 $ 17 $ 513 __________ (a) The comparative information has not been restated and continues to be reported under the accounting standard in effect during 2019.

Net Investment in Operating Lea

Net Investment in Operating Leases (Tables)	6 Months Ended
	Jun. 30, 2020
Leases, Operating [Abstract]
Net investment in operating leases [Table Text Block]	Net investment in operating leases was as follows (in millions): December 31, June 30, Vehicles, at cost (a) $ 33,431 $ 32,660 Accumulated depreciation (5,772 ) (6,275 ) Net investment in operating leases $ 27,659 $ 26,385 __________ (a) Includes interest supplements and residual support payments we receive on certain leasing transactions under agreements with Ford and affiliated companies, and other vehicle acquisition costs.

Transfers of Receivables (Table

Transfers of Receivables (Tables)	6 Months Ended
	Jun. 30, 2020
Transfers and Servicing [Abstract]
Schedule of Assets and Liabilities Related to Securitization Transactions [Table Text Block]	Most of these securitization transactions utilize VIEs. The following tables show the assets and debt related to our securitization transactions that were included in our financial statements (in billions): December 31, 2019 Cash and Cash Equivalents Finance Receivables and Net Investment in Operating Leases (a) Related Debt (c) Before Allowance Allowance for After Allowance VIE (b) Retail financing $ 1.8 $ 32.6 $ 0.2 $ 32.4 $ 28.0 Wholesale financing 0.9 26.1 — 26.1 13.4 Finance receivables 2.7 58.7 0.2 58.5 41.4 Net investment in operating leases 0.5 14.9 — 14.9 9.5 Total VIE $ 3.2 $ 73.6 $ 0.2 $ 73.4 $ 50.9 Non-VIE Retail financing $ 0.3 $ 5.7 $ — $ 5.7 $ 5.1 Wholesale financing — 0.7 — 0.7 0.6 Finance receivables 0.3 6.4 — 6.4 5.7 Net investment in operating leases — — — — — Total Non-VIE $ 0.3 $ 6.4 $ — $ 6.4 $ 5.7 Total securitization transactions Retail financing $ 2.1 $ 38.3 $ 0.2 $ 38.1 $ 33.1 Wholesale financing 0.9 26.8 — 26.8 14.0 Finance receivables 3.0 65.1 0.2 64.9 47.1 Net investment in operating leases 0.5 14.9 — 14.9 9.5 Total securitization transactions $ 3.5 $ 80.0 $ 0.2 $ 79.8 $ 56.6 __________ (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. (c) Includes unamortized discount and debt issuance costs. NOTE 6. TRANSFERS OF RECEIVABLES AND VARIABLE INTEREST ENTITIES (Continued) June 30, 2020 Cash and Cash Equivalents Finance Receivables and Net Investment in Operating Leases (a) Related Debt (c) Before Allowance for Credit Losses Allowance for Credit Losses After Allowance for Credit Losses VIE (b) Retail financing $ 1.8 $ 33.0 $ 0.4 $ 32.6 $ 26.2 Wholesale financing 0.7 17.2 — 17.2 10.4 Finance receivables 2.5 50.2 0.4 49.8 36.6 Net investment in operating leases 0.7 14.5 — 14.5 9.3 Total VIE $ 3.2 $ 64.7 $ 0.4 $ 64.3 $ 45.9 Non-VIE Retail financing $ 0.4 $ 9.1 $ 0.1 $ 9.0 $ 8.3 Wholesale financing — 0.6 — 0.6 0.3 Finance receivables 0.4 9.7 0.1 9.6 8.6 Net investment in operating leases — — — — — Total Non-VIE $ 0.4 $ 9.7 $ 0.1 $ 9.6 $ 8.6 Total securitization transactions Retail financing $ 2.2 $ 42.1 $ 0.5 $ 41.6 $ 34.5 Wholesale financing 0.7 17.8 — 17.8 10.7 Finance receivables 2.9 59.9 0.5 59.4 45.2 Net investment in operating leases 0.7 14.5 — 14.5 9.3 Total securitization transactions $ 3.6 $ 74.4 $ 0.5 $ 73.9 $ 54.5 __________ (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. (c) Includes unamortized discount and debt issuance cost.

Derivative Financial Instrume_2

Derivative Financial Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]	The gains / (losses), by hedge designation, reported in income for the periods ended June 30 were as follows (in millions): Second Quarter First Half 2019 2020 2019 2020 Fair value hedges Interest rate contracts Net interest settlements and accruals on hedging instruments $ (12 ) $ 68 $ (32 ) $ 96 Fair value changes on hedging instruments 474 112 724 1,222 Fair value changes on hedged debt (463 ) (98 ) (716 ) (1,191 ) Derivatives not designated as hedging instruments Interest rate contracts (3 ) (12 ) (30 ) (86 ) Foreign currency exchange contracts (a) 40 (41 ) 34 166 Cross-currency interest rate swap contracts 141 154 (4 ) 3 Total $ 177 $ 183 $ (24 ) $ 210 __________ (a) Reflects forward contracts between Ford Credit and an affiliated company.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	The fair value of our derivative instruments and the associated notional amounts were as follows (in millions): December 31, 2019 June 30, 2020 Notional Fair Value of Assets Fair Value of Liabilities Notional Fair Value of Assets Fair Value of Liabilities Fair value hedges Interest rate contracts $ 26,577 $ 702 $ 19 $ 24,434 $ 1,682 $ — Derivatives not designated as hedging instruments Interest rate contracts 68,914 275 191 71,075 752 573 Foreign currency exchange contracts 5,540 17 79 3,524 43 42 Cross-currency interest rate swap contracts 5,849 134 67 5,611 163 53 Total derivative financial instruments, gross (a) (b) $ 106,880 $ 1,128 $ 356 $ 104,644 $ 2,640 $ 668 __________ (a) At December 31, 2019 and June 30, 2020 , we held collateral of $18 million and $20 million , respectively, and we posted collateral of $78 million and $91 million , respectively. (b) At December 31, 2019 and June 30, 2020 , the fair value of assets and liabilities available for counterparty netting was $169 million and $337 million, respectively. All derivatives are categorized within Level 2 of the fair value hierarchy.

Other Assets and Other Liabil_2

Other Assets and Other Liabilities and Deferred Income (Tables)	6 Months Ended
	Jun. 30, 2020
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): December 31, June 30, Collateral held for resale, at net realizable value $ 843 $ 994 Accrued interest and other non-finance receivables 898 875 Prepaid reinsurance premiums and other reinsurance recoverables 687 695 Property and equipment, net of accumulated depreciation (a) 212 212 Deferred charges - income taxes 171 153 Investment in non-consolidated affiliates (b) 132 122 Operating lease assets 108 107 Other 347 377 Total other assets $ 3,398 $ 3,535 __________ (a) Accumulated depreciation was $393 million and $404 million at December 31, 2019 and June 30, 2020 , respectively. (b) Adoption of ASU 2016-13 reduced investment in non-consolidated affiliates $8 million . See Note 2 for additional information. Returned operating lease vehicles and repossessed vehicles are classified as collateral held for resale and recorded at net realizable value. Based on sales during the second quarter of 2020, we released the unused portion of our valuation adjustment related to COVID-19 that was recorded in the first quarter. Other liabilities and deferred revenue were as follows (in millions): December 31, June 30, Unearned insurance premiums and fees $ 806 $ 811 Interest payable 888 739 Income tax and related interest (a) 433 173 Operating lease liabilities 110 109 Deferred revenue 110 95 Other 286 247 Total other liabilities and deferred revenue $ 2,633 $ 2,174 __________ (a) Includes tax and interest payable to affiliated companies of $ 294 million and $ 38 million at December 31, 2019 and June 30, 2020 , respectively.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	Debt outstanding and interest rates were as follows (in millions): Interest Rates Debt Average Contractual Average Effective December 31, June 30, 2019 2020 2019 2020 Short-term debt Unsecured debt Floating rate demand notes $ 6,545 $ 5,910 Commercial paper 3,560 1,793 Other short-term debt 2,731 3,186 Asset-backed debt (a) 881 792 Total short-term debt 13,717 11,681 2.8 % 2.0 % 2.8 % 2.0 % Long-term debt Unsecured debt Notes payable within one year 15,062 18,567 Notes payable after one year 55,148 49,711 Asset-backed debt (a) Notes payable within one year 23,609 22,997 Notes payable after one year 32,162 30,794 Unamortized (discount) / premium 7 5 Unamortized issuance costs (214 ) (205 ) Fair value adjustments (b) 538 1,717 Total long-term debt 126,312 123,586 3.0 % 2.7 % 3.0 % 2.7 % Total debt $ 140,029 $ 135,267 2.9 % 2.7 % 3.0 % 2.7 % Fair value of debt (c) $ 141,678 $ 132,836 __________ (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) These adjustments relate to fair value hedges. The carrying value of hedged debt was $39.4 billion and $42.5 billion at December 31, 2019 and June 30, 2020 , respectively. (c) The fair value of debt includes $12.8 billion and $10.9 billion of short-term debt at December 31, 2019 and June 30, 2020

Other Income, Net (Tables)

Other Income, Net (Tables)	3 Months Ended
	Mar. 31, 2020
Other Income and Expenses [Abstract]
Schedule of Other Income [Table Text Block]	The amounts included in Other income / (loss), net for the periods ended June 30 were as follows (in millions): Second Quarter First Half 2019 2020 2019 2020 Gains / (Losses) on derivatives $ 178 $ 101 $ — $ 83 Currency revaluation gains / (losses) (147 ) (108 ) (16 ) (169 ) Interest and investment income 83 27 162 90 Other 10 17 37 21 Total other income / (loss), net $ 124 $ 37 $ 183 $ 25

Segment and Geographic Informat

Segment and Geographic Information (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Key financial information for our business segments for the periods ended or at June 30 was as follows (in millions): United States and Canada Europe All Other Total Segments Unallocated Other (a) Total Second Quarter 2019 (b) Total revenue $ 2,716 $ 307 $ 165 $ 3,188 $ — $ 3,188 Income before income taxes 589 113 37 739 92 831 Other disclosures: Depreciation on vehicles subject to operating leases 885 9 — 894 — 894 Interest expense 939 86 91 1,116 (2 ) 1,114 Provision for credit losses 48 7 8 63 — 63 Second Quarter 2020 Total revenue $ 2,448 $ 244 $ 101 $ 2,793 $ — $ 2,793 Income before income taxes 445 65 17 527 16 543 Other disclosures: Depreciation on vehicles subject to operating leases 990 — — 990 — 990 Interest expense 726 82 55 863 (24 ) 839 Provision for credit losses 76 14 3 93 — 93 First Half 2019 (b) Total revenue $ 5,427 $ 610 $ 345 $ 6,382 $ — $ 6,382 Income before income taxes 1,211 227 95 1,533 99 1,632 Other disclosures: Depreciation on vehicles subject to operating leases 1,797 21 — 1,818 — 1,818 Interest expense 1,870 166 193 2,229 6 2,235 Provision for credit losses 88 12 (4 ) 96 — 96 Net finance receivables and net investment in operating leases 118,990 27,224 5,708 151,922 (8,443 ) 143,479 Total assets 127,482 30,094 6,442 164,018 — 164,018 First Half 2020 Total revenue $ 5,079 $ 525 $ 221 $ 5,825 $ — $ 5,825 Income before income taxes 467 82 24 573 — 573 Other disclosures: Depreciation on vehicles subject to operating leases 2,029 13 — 2,042 — 2,042 Interest expense 1,571 172 120 1,863 (40 ) 1,823 Provision for credit losses 596 67 16 679 — 679 Net finance receivables and net investment in operating leases (c) 111,775 23,659 3,949 139,383 (9,080 ) 130,303 Total assets 124,375 26,091 4,810 155,276 — 155,276 __________ (a) Finance receivables, net and Net investment in operating lease includes unearned interest supplements and residual support, allowance for credit losses, and other (primarily accumulated supplemental depreciation). (b) Comparative information has been updated to reflect the reportable segments as of January 1, 2020. (c) Excludes held-for-sale finance receivables.

Presentation (Details)

Presentation (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Provision for Other Credit Losses		$ 679	$ 96
Disposal Group, Including Discontinued Operation, Assets	$ 50	50		$ 1,698
Disposal Group, Including Discontinued Operation, Other Liabilities	0	$ 0		$ 45
Presentation		PRESENTATION 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 Current Report on Form 8-K filed April 29, 2020 (“April 29, 2020 Form 8-K Report). We are an indirect, wholly owned subsidiary of Ford Motor Company (“Ford”). We reclassify certain prior period amounts in our consolidated financial statements to conform to current year presentation. Global Pandemic On March 11, 2020, the World Health Organization characterized the outbreak of COVID-19 as a global pandemic and recommended containment and mitigation measures. Since then, extraordinary actions were taken by international, federal, state, and local public health and governmental authorities to contain and combat the outbreak and spread of COVID-19 in regions throughout the world. These actions include travel bans, quarantines, “stay-at-home” orders, and similar mandates for many individuals to substantially restrict daily activities and for many businesses to curtail or cease normal operations. Although restrictions have been eased in many locations, some areas that had previously eased restrictions have reverted to more stringent limitations on daily activities. Consistent with the actions taken by governmental authorities, as of late March 2020, nearly all of our employees, other than in China, began working remotely in order to reduce the spread of COVID-19. As of June 2020, nearly all of our employees continue to work remotely. Our remote work arrangements have been designed to allow for continued operation of business functions, including originating and servicing customer contracts, financial reporting, and internal control. Our results include adjustments due to the impact of COVID-19, the most significant of which were a charge to the provision for credit losses of $ 46 million and $ 532 million during the second quarter and first half of 2020, respectively, and a gain (decrease) of $ 40 million and a charge (increase) of $ 14 million to depreciation expense during the second quarter and first half of 2020, respectively, for lower of cost or market adjustments related to our operating lease vehicles awaiting sale at auction. Our assessments of the effect of COVID-19 on our financial statements, including estimates, are based on a variety of factors and are subject to many uncertainties. See Notes 4 and 8 for additional information. The impact of the COVID-19 pandemic on our full year financial results will depend on future developments, such as the ultimate duration and scope of the outbreak, its impact on our customers, dealers, and suppliers, and the rate at which economic conditions return to pre-COVID-19 levels. Restructuring Actions Beginning in the fourth quarter of 2019, we determined that it was not probable that we would hold certain assets and liabilities for more than the following twelve months, and these assets and liabilities were reported as held-for-sale. The total value of our Assets held-for-sale presented at fair value at December 31, 2019 and June 30, 2020 were $ 1,698 million and $50 million , respectively, and Liabilities held-for-sale presented at fair value at December 31, 2019 and June 30, 2020 were $ 45 million and $0 million , respectively.
Adverse impact [Member]
Provision for Other Credit Losses	46	$ 532
Depreciation	$ 40	$ 14

Accounting Policies (Details)

Accounting Policies (Details) - USD ($) $ in Millions	Jun. 30, 2020	Jan. 01, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Finance receivables, net	$ 103,918		$ 114,317
Other Assets	3,535	$ 3,390	3,398
Deferred Tax Liabilities, Gross	1,804	2,535	2,593
Retained Earnings (Accumulated Deficit)	9,581	9,703	9,905
Accounting Standards Update 2016-13 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Finance receivables, net	252
Other Assets		(8)
Deferred Tax Liabilities, Gross		(58)
Retained Earnings (Accumulated Deficit)		(202)
Retail Installment loans, dealer financing, and other financing [Domain] [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Finance receivables, net	$ 96,418	105,901	106,131
Retail Installment loans, dealer financing, and other financing [Domain] [Member] | Accounting Standards Update 2016-13 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Finance receivables, net		(230)
Finance Lease [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Finance receivables, net		8,164	$ 8,186
Finance Lease [Member] | Accounting Standards Update 2016-13 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Finance receivables, net		$ (22)

Cash, Cash Equivalents, and M_3

Cash, Cash Equivalents, and Marketable Securities (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash, Cash Equivalents, and Short-term Investments	$ 8,101	$ 8,113
Total cash and cash equivalents	12,838	9,067
Restricted Cash	165	139
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations	0	62
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	13,003	9,268	$ 12,742	$ 9,747
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash and cash equivalents	4,737	954
Fair Value, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities	5,036	3,296
US Government [Member] | Fair Value, Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash and cash equivalents	1,568	0
Marketable securities	1,924	195
US Government Agencies [Member] | Fair Value, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash and cash equivalents	825	0
Marketable securities	410	210
Debt Security, Government, Non-US [Member] | Fair Value, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash and cash equivalents	1,352	350
Marketable securities	2,215	2,408
Corporate debt [Member] | Fair Value, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash and cash equivalents	992	604
Marketable securities	223	193
Other Debt Obligations [Member] | Fair Value, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities	$ 264	$ 290

Finance Receivables Net (Detail

Finance Receivables Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Mar. 31, 2020	Jan. 01, 2020	Mar. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Threshold Period Past Due	31 days		31 days
Sales Type and Direct Financing Lease Revenue	$ 77	$ 97	$ 172	$ 189
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	105,203		105,203		$ 114,830
Financing Receivable, Allowance for Credit Loss	1,285	513	1,285	513	513	$ 1,231		$ 513	$ 589
Finance leases, net	103,918		103,918		114,317
Uncollected interest receivable excluded from finance receivable	218		218		253
Financing Receivable, Reclassification to Held-for-sale					1,500
Disposal Group, Including Discontinued Operation, Other Liabilities	0		0		45
Disposal Group, Including Discontinued Operation, Assets	50		50		1,698
Consumer Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	74,893		74,893
Financing Receivable, Allowance for Credit Loss	1,211	496	1,211	496	496	1,157		496	566
Non-Consumer Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	30,310		30,310		40,855
Financing Receivable, Allowance for Credit Loss	74	$ 17	74	$ 17	17	$ 74		$ 17	$ 23
Retail Installment Loans [Member] | Consumer Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	70,857		70,857		68,998
Retail [Member] | Consumer Segment [Member]
Net Finance Receivables [Abstract]
Unearned interest supplements from Ford and affiliated companies	(3,844)		(3,844)		(3,589)
Financing Receivable, before Allowance for Credit Loss	74,893		74,893		73,975
Finance Receivable Before Unearned Interest Supplements	78,737		78,737		77,564
Finance leases [Domain]
Net Finance Receivables [Abstract]
Finance leases, net	7,500		7,500		8,186
Finance leases [Domain] | Consumer Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	7,880		7,880		8,566
Wholesale and Dealer Loans [Member] | Non-Consumer Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	28,460		28,460		38,910
Other Finance Receivables [Member] | Non-Consumer Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	1,850		1,850		1,945
Retail Installment loans, dealer financing, and other financing [Domain] [Member]
Net Finance Receivables [Abstract]
Finance leases, net	96,418		96,418		106,131		$ 105,901
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Net Finance Receivables [Abstract]
Finance leases, net	96,418		96,418		106,131
Fair value (b)	$ 97,509		$ 97,509		106,260
Forso Nordic AB [Member]
Net Finance Receivables [Abstract]
Financing Receivable, Reclassification to Held-for-sale					$ 1,200

Finance Receivables - Credit Qu

Finance Receivables - Credit Quality and Impaired Receivables (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accrual of Revenue	P90D
Contract with Customer, Asset, Past Due		$ 1,040
Contract with Customer, Asset, Not Past Due		72,935
Contract with Customer, Asset, before Allowance for Credit Loss		73,975
Financing Receivables	$ 105,203	114,830
Dealer Financing [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Past Due	143	62
Consumer Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	1,699
Financing Receivable, Originated Four Years before Latest Fiscal Year	4,286
Financing Receivable, Originated Three Years before Latest Fiscal Year	9,732
Financing Receivable, Originated Two Years before Latest Fiscal Year	17,663
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	24,600
Financing Receivable, Originated in Current Fiscal Year	16,913
Financing Receivables	$ 74,893
Consumer Segment [Member] | Pass [Member] | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance Receivables Credit Quality Ratings Term Range	60 days
Consumer Segment [Member] | Special Mention [Member] | Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance Receivables Credit Quality Ratings Term Range	61 days
Consumer Segment [Member] | Special Mention [Member] | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance Receivables Credit Quality Ratings Term Range	120 days
Consumer Segment [Member] | Substandard [Member] | Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance Receivables Credit Quality Ratings Term Range	120 days
Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving	$ 26,746
Financing Receivables	30,310	40,855
Commercial Portfolio Segment [Member] | Group I
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving	19,378
Commercial Portfolio Segment [Member] | Group II
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving	5,317
Commercial Portfolio Segment [Member] | Group III
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving	1,908
Commercial Portfolio Segment [Member] | Group IV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving	143
Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivables	28,460
Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Group I
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivables	20,833
Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Group II
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivables	5,501
Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Group III
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivables	1,972
Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Group IV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivables	154
Commercial Portfolio Segment [Member] | Wholesale and Dealer Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivables	28,460	38,910
Commercial Portfolio Segment [Member] | Wholesale and Dealer Loans [Member] | Group I
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivables		31,206
Commercial Portfolio Segment [Member] | Wholesale and Dealer Loans [Member] | Group II
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivables		5,407
Commercial Portfolio Segment [Member] | Wholesale and Dealer Loans [Member] | Group III
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivables		2,108
Commercial Portfolio Segment [Member] | Wholesale and Dealer Loans [Member] | Group IV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivables		189
Wholesale and Dealer Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivables	1,714
Wholesale and Dealer Loans [Member] | Group I
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivables	1,455
Wholesale and Dealer Loans [Member] | Group II
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivables	184
Wholesale and Dealer Loans [Member] | Group III
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivables	64
Wholesale and Dealer Loans [Member] | Group IV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivables	11
Financial Asset, 1 to 29 Days Past Due [Member] | Consumer Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	1,631
Financing Receivable, Originated Four Years before Latest Fiscal Year	4,202
Financing Receivable, Originated Three Years before Latest Fiscal Year	9,593
Financing Receivable, Originated Two Years before Latest Fiscal Year	17,475
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	24,430
Financing Receivable, Originated in Current Fiscal Year	16,872
Financing Receivables	74,203
Financial Asset, 1 to 29 Days Past Due [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	657
Financing Receivable, Originated Four Years before Latest Fiscal Year	167
Financing Receivable, Originated Three Years before Latest Fiscal Year	180
Financing Receivable, Originated Two Years before Latest Fiscal Year	256
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	113
Financing Receivable, Originated in Current Fiscal Year	341
Financing Receivables, 31-60 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contract with Customer, Asset, Past Due		839
Financing Receivables, 31-60 Days Past Due [Member] | Consumer Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	45
Financing Receivable, Originated Four Years before Latest Fiscal Year	60
Financing Receivable, Originated Three Years before Latest Fiscal Year	98
Financing Receivable, Originated Two Years before Latest Fiscal Year	135
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	124
Financing Receivable, Originated in Current Fiscal Year	31
Financing Receivables	493
Financing Receivables, 31-60 Days Past Due [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	608
Financing Receivable, Originated Four Years before Latest Fiscal Year	132
Financing Receivable, Originated Three Years before Latest Fiscal Year	159
Financing Receivable, Originated Two Years before Latest Fiscal Year	221
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	98
Financing Receivable, Originated in Current Fiscal Year	237
Financing Receivables, 61-120 Days past due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contract with Customer, Asset, Past Due		166
Financing Receivables, 61-120 Days past due [Member] | Consumer Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	9
Financing Receivable, Originated Four Years before Latest Fiscal Year	17
Financing Receivable, Originated Three Years before Latest Fiscal Year	33
Financing Receivable, Originated Two Years before Latest Fiscal Year	44
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	40
Financing Receivable, Originated in Current Fiscal Year	10
Financing Receivables	153
Financing Receivables, 61-120 Days past due [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	38
Financing Receivable, Originated Four Years before Latest Fiscal Year	32
Financing Receivable, Originated Three Years before Latest Fiscal Year	17
Financing Receivable, Originated Two Years before Latest Fiscal Year	18
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	7
Financing Receivable, Originated in Current Fiscal Year	72
Financing Receivables, Greater Than 120 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contract with Customer, Asset, Past Due		$ 35
Financing Receivables, Greater Than 120 Days Past Due [Member] | Consumer Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	14
Financing Receivable, Originated Four Years before Latest Fiscal Year	7
Financing Receivable, Originated Three Years before Latest Fiscal Year	8
Financing Receivable, Originated Two Years before Latest Fiscal Year	9
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	6
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivables	44
Financing Receivables, Greater Than 120 Days Past Due [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	9
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	4
Financing Receivable, Originated Two Years before Latest Fiscal Year	17
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	6
Financing Receivable, Originated in Current Fiscal Year	28
Total past due [Member] | Consumer Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	68
Financing Receivable, Originated Four Years before Latest Fiscal Year	84
Financing Receivable, Originated Three Years before Latest Fiscal Year	139
Financing Receivable, Originated Two Years before Latest Fiscal Year	188
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	170
Financing Receivable, Originated in Current Fiscal Year	41
Financing Receivables	690
Total past due [Member] | Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	2
Financing Receivable, Originated Four Years before Latest Fiscal Year	3
Financing Receivable, Originated Three Years before Latest Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	2
Financing Receivable, Originated in Current Fiscal Year	$ 4

Finance Receivables and Allow_2

Finance Receivables and Allowance for Credit Losses Allowance for credit losses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020	Jan. 01, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Financing Receivable, Allowance for Credit Loss	$ 1,285	$ 513	$ 1,285	$ 513	$ 1,231		$ 513	$ 513	$ 589
Finance receivables, net	103,918		103,918				114,317
Financing Receivable, Allowance for Credit Loss, Writeoff	(80)	(117)		(271)
Financing Receivable, Allowance for Credit Loss, Recovery	34	51		96
Provision for Loan, Lease, and Other Losses	93	63		96
Financing Receivable, Allowance for Credit Losses, Other	7	3		3
Financing Receivable, before Allowance for Credit Loss	105,203		105,203				114,830
Consumer Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss	1,211	496	1,211	496	1,157		496	496	566
Financing Receivable, Allowance for Credit Loss, Writeoff	(80)	(117)	(225)	(254)
Financing Receivable, Allowance for Credit Loss, Recovery	33	45	76	88
Provision for Loan, Lease, and Other Losses	94	70	628	94
Financing Receivable, Allowance for Credit Losses, Other	7	2	(11)	2
Financing Receivable, before Allowance for Credit Loss	74,893		74,893
Commercial Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss	74	17	74	17	$ 74		17	$ 17	$ 23
Financing Receivable, Allowance for Credit Loss, Writeoff	0	0	(1)	(17)
Financing Receivable, Allowance for Credit Loss, Recovery	1	6	3	8
Provision for Loan, Lease, and Other Losses	(1)	(7)	51	2
Financing Receivable, Allowance for Credit Losses, Other	0	$ 1	(1)	$ 1
Financing Receivable, before Allowance for Credit Loss	30,310		30,310				40,855
Accounting Standards Update 2016-13 [Member]
Financing Receivable, Allowance for Credit Loss						$ 252
Finance receivables, net	252		252
Accounting Standards Update 2016-13 [Member] | Consumer Portfolio Segment [Member]
Finance receivables, net	247		247
Accounting Standards Update 2016-13 [Member] | Commercial Portfolio Segment [Member]
Finance receivables, net	5		5
Retail Installment loans, dealer financing, and other financing [Domain] [Member]
Finance receivables, net	96,418		96,418			105,901	$ 106,131
Retail Installment loans, dealer financing, and other financing [Domain] [Member] | Accounting Standards Update 2016-13 [Member]
Finance receivables, net						$ (230)
Global pandemic [Member]
Financing Receivable, Allowance for Credit Loss	$ 532		$ 532

Net Investments in Operating _2

Net Investments in Operating Leases (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Net Investment in Operating Leases, Length of Lease	60 months or less
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 404	$ 393
Net Investment in Operating Leases	26,385	27,659
Property Subject to Operating Lease [Member]
Property Subject to or Available for Operating Lease, Gross	32,660	33,431
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	6,275	5,772
Net Investment in Operating Leases	$ 26,385	$ 27,659

Transfers of Receivables - Asse

Transfers of Receivables - Assets and Liabilities of Securitizations (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019
Securitization Transactions [Line Items]
Cash and cash equivalents	$ 12,838	$ 9,067
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	130,303		$ 143,479
Related Debt	135,267	140,029
Variable Interest Entity, Primary Beneficiary [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	3,204	3,202
Related Debt	45,908	50,865
Variable Interest Entity, Primary Beneficiary [Member] | Securitization Transactions [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	3,200	3,200
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	64,700	73,600
Allowance for Credit Losses	400	200
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	64,300	73,400
Related Debt	45,900	50,900
Variable Interest Entity, Primary Beneficiary [Member] | Securitization Transactions [Member] | Financing Receivable [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	2,500	2,700
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	50,200	58,700
Allowance for Credit Losses	400	200
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	49,800	58,500
Related Debt	36,600	41,400
Variable Interest Entity, Primary Beneficiary [Member] | Securitization Transactions [Member] | Retail [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	1,800	1,800
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	33,000	32,600
Allowance for Credit Losses	400	200
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	32,600	32,400
Related Debt	26,200	28,000
Variable Interest Entity, Primary Beneficiary [Member] | Securitization Transactions [Member] | Wholesale [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	700	900
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	17,200	26,100
Allowance for Credit Losses	0	0
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	17,200	26,100
Related Debt	10,400	13,400
Variable Interest Entity, Primary Beneficiary [Member] | Securitization Transactions [Member] | Net Investment in Operating Leases [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	700	500
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	14,500	14,900
Allowance for Credit Losses	0	0
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	14,500	14,900
Related Debt	9,300	9,500
Consolidated Entity Excluding Variable Interest Entities (VIE) [Member] | Securitization Transactions [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	400	300
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	9,700	6,400
Allowance for Credit Losses	100	0
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	9,600	6,400
Related Debt	8,600	5,700
Consolidated Entity Excluding Variable Interest Entities (VIE) [Member] | Securitization Transactions [Member] | Financing Receivable [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	400	300
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	9,700	6,400
Allowance for Credit Losses	100	0
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	9,600	6,400
Related Debt	8,600	5,700
Consolidated Entity Excluding Variable Interest Entities (VIE) [Member] | Securitization Transactions [Member] | Retail [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	400	300
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	9,100	5,700
Allowance for Credit Losses	100	0
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	9,000	5,700
Related Debt	8,300	5,100
Consolidated Entity Excluding Variable Interest Entities (VIE) [Member] | Securitization Transactions [Member] | Wholesale [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	0	0
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	600	700
Allowance for Credit Losses	0	0
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	600	700
Related Debt	300	600
Consolidated Entity Excluding Variable Interest Entities (VIE) [Member] | Securitization Transactions [Member] | Net Investment in Operating Leases [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	0	0
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	0	0
Allowance for Credit Losses	0	0
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	0	0
Related Debt	0	0
Consolidated Entities [Member] | Securitization Transactions [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	3,600	3,500
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	74,400	80,000
Allowance for Credit Losses	500	200
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	73,900	79,800
Related Debt	54,500	56,600
Consolidated Entities [Member] | Securitization Transactions [Member] | Financing Receivable [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	2,900	3,000
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	59,900	65,100
Allowance for Credit Losses	500	200
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	59,400	64,900
Related Debt	45,200	47,100
Consolidated Entities [Member] | Securitization Transactions [Member] | Retail [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	2,200	2,100
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	42,100	38,300
Allowance for Credit Losses	500	200
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	41,600	38,100
Related Debt	34,500	33,100
Consolidated Entities [Member] | Securitization Transactions [Member] | Wholesale [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	700	900
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	17,800	26,800
Allowance for Credit Losses	0	0
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	17,800	26,800
Related Debt	10,700	14,000
Consolidated Entities [Member] | Securitization Transactions [Member] | Net Investment in Operating Leases [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	700	500
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	14,500	14,900
Allowance for Credit Losses	0	0
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	14,500	14,900
Related Debt	$ 9,300	$ 9,500

Derivative Financial Instrume_3

Derivative Financial Instruments and Hedging Activities (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Derivative [Line Items]
Debt Carrying Value Fair Value	$ 42,500		$ 42,500		$ 39,400
Income Effect of Derivative Financial Instruments [Abstract]
Derivative, Gain (Loss) on Derivative, Net	183	$ 177	210	$ (24)
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Fair Value of Derivative Assets	2,640		2,640		1,128
Fair Value of Derivative Liabilities	668		668		356
Derivative, Notional Amount	104,644		104,644		106,880
Derivative, Collateral, Obligation to Return Cash	20		20		18
Derivative, Collateral, Right to Reclaim Cash	91		91		78
Derivative Asset, Not Offset, Policy Election Deduction	337		337		169
Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member]
Income Effect of Derivative Financial Instruments [Abstract]
Net interest settlements and accruals excluded from the assessment of hedge effectiveness	68	(12)	96	(32)
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	112	474	1,222	724
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(98)	(463)	(1,191)	(716)
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Derivative, Notional Amount	24,434		24,434		26,577
Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Level 2 [Member] | Fair Value, Recurring [Member] | Fair Value Hedging [Member]
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Fair Value of Derivative Assets	1,682		1,682		702
Fair Value of Derivative Liabilities	0		0		19
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member]
Income Effect of Derivative Financial Instruments [Abstract]
Derivative, Gain (Loss) on Derivative, Net	(12)	(3)	(86)	(30)
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Derivative, Notional Amount	71,075		71,075		68,914
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Level 2 [Member] | Fair Value, Recurring [Member]
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Fair Value of Derivative Assets	752		752		275
Fair Value of Derivative Liabilities	573		573		191
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]
Income Effect of Derivative Financial Instruments [Abstract]
Derivative, Gain (Loss) on Derivative, Net	(41)	40	166	34
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Derivative, Notional Amount	3,524		3,524		5,540
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | Level 2 [Member] | Fair Value, Recurring [Member]
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Fair Value of Derivative Assets	43		43		17
Fair Value of Derivative Liabilities	42		42		79
Cross Currency Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member]
Income Effect of Derivative Financial Instruments [Abstract]
Derivative, Gain (Loss) on Derivative, Net	154	$ 141	3	$ (4)
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Derivative, Notional Amount	5,611		5,611		5,849
Cross Currency Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Level 2 [Member] | Fair Value, Recurring [Member]
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Fair Value of Derivative Assets	163		163		134
Fair Value of Derivative Liabilities	$ 53		$ 53		$ 67

Other Assets and Other Liabil_3

Other Assets and Other Liabilities and Deferred Income (Details) - USD ($) $ in Millions	Jun. 30, 2020	Jan. 01, 2020	Dec. 31, 2019
Other Assets and Other Liabilities [Abstract]
Accrued interest and other non-finance receivables	$ 875		$ 898
Collateral held for resale, at net realizable value, and other inventory	994		843
Prepaid Reinsurance Premiums and Other Reinsurance Recoverables	695		687
Deferred charges - income taxes	153		171
Property and equipment, net of accumulated depreciation	212		212
Operating lease assets	107		108
Investment in non-consolidated affiliates	(122)		(132)
Other	377		347
Total other assets	3,535	$ 3,390	3,398
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	404		393
Unearned Premiums and Fees	811		806
Interest Payable	739		888
Taxes Payable	173		433
Deferred Revenue	95		110
Operating Lease, Liability	109		110
Other Liabilities	2,174		2,633
Related Party Transactions Income Taxes and Related Interest Payable	38		294
Other Liabilities, Miscellaneous	247		286
Accounting Standards Update 2016-13 [Member]
Other Assets and Other Liabilities [Abstract]
Investment in non-consolidated affiliates		8
Total other assets		$ (8)
Property Subject to Operating Lease [Member]
Other Assets and Other Liabilities [Abstract]
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 6,275		$ 5,772

Debt (Details)

Debt (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total short-term debt	$ 11,681	$ 13,717
Unamortized discount	5	7
Unamortized debt issuance costs	(205)	(214)
Fair value adjustments	1,717	538
Total long-term debt	123,586	126,312
Total debt	$ 135,267	$ 140,029
Average Contractual (interest rate)	2.70%	2.90%
Average Effective (interest rate)	2.70%	3.00%
Debt Carrying Value Fair Value	$ 42,500	$ 39,400
Fair value of short-term debt	10,900	12,800
Floating Rate Demand Notes [Member]
Debt Instrument [Line Items]
Total short-term debt	5,910	6,545
Unsecured commercial paper [Member]
Debt Instrument [Line Items]
Total short-term debt	1,793	3,560
Other short-term debt [Member]
Debt Instrument [Line Items]
Total short-term debt	3,186	2,731
Asset-backed Securities [Member]
Debt Instrument [Line Items]
Total short-term debt	792	881
Notes payable within one year	22,997	23,609
Notes payable after one year	$ 30,794	$ 32,162
Total short-term debt [Member]
Debt Instrument [Line Items]
Average Contractual (interest rate)	2.00%	2.80%
Average Effective (interest rate)	2.00%	2.80%
Unsecured Debt [Member]
Debt Instrument [Line Items]
Notes payable within one year	$ 18,567	$ 15,062
Notes payable after one year	$ 49,711	$ 55,148
Total long-term debt [Member]
Debt Instrument [Line Items]
Average Contractual (interest rate)	2.70%	3.00%
Average Effective (interest rate)	2.70%	3.00%
Fair Value, Nonrecurring [Member] | Level 2 [Member]
Debt Instrument [Line Items]
Fair value of debt	$ 132,836	$ 141,678

Other Income, Net (Details)

Other Income, Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Other Income and Expenses [Abstract]
Gains/(Losses) on derivatives	$ 101	$ 178	$ 83	$ 0
Currency revaluation gains/(losses)	(108)	(147)	(169)	(16)
Interest and investment income	27	83	90	162
Other	17	10	21	37
Other income, net	$ 37	$ 124	$ 25	$ 183

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Total revenue	$ 2,793	$ 3,188	$ 5,825	$ 6,382
Income before income taxes	543	831	573	1,632
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	(990)	(894)	(2,042)	(1,818)
Interest expense	839	1,114	1,823	2,235
Provision for credit losses	93	63	679	96
Net finance receivables and net investment in operating leases	130,303	143,479	130,303	143,479
Total assets	155,276	164,018	155,276	164,018	$ 161,426
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	2,793	3,188	5,825	6,382
Income before income taxes	527	739	573	1,533
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	(990)	(894)	(2,042)	(1,818)
Interest expense	863	1,116	1,863	2,229
Provision for credit losses	93	63	679	96
Net finance receivables and net investment in operating leases	139,383	151,922	139,383	151,922
Total assets	155,276	164,018	155,276	164,018
Operating Segments [Member] | Americas [Member]
Segment Reporting Information [Line Items]
Total revenue	2,448	2,716	5,079	5,427
Income before income taxes	445	589	467	1,211
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	(990)	(885)	(2,029)	(1,797)
Interest expense	726	939	1,571	1,870
Provision for credit losses	76	48	596	88
Net finance receivables and net investment in operating leases	111,775	118,990	111,775	118,990
Total assets	124,375	127,482	124,375	127,482
Operating Segments [Member] | Europe [Member]
Segment Reporting Information [Line Items]
Total revenue	244	307	525	610
Income before income taxes	65	113	82	227
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	0	(9)	(13)	(21)
Interest expense	82	86	172	166
Provision for credit losses	14	7	67	12
Net finance receivables and net investment in operating leases	23,659	27,224	23,659	27,224
Total assets	26,091	30,094	26,091	30,094
Operating Segments [Member] | Asia Pacific [Member]
Segment Reporting Information [Line Items]
Total revenue	101	165	221	345
Income before income taxes	17	37	24	95
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	0	0	0	0
Interest expense	55	91	120	193
Provision for credit losses	3	8	16	(4)
Net finance receivables and net investment in operating leases	3,949	5,708	3,949	5,708
Total assets	4,810	6,442	4,810	6,442
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Income before income taxes	16	92	0	99
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	0	0	0	0
Interest expense	(24)	(2)	(40)	6
Provision for credit losses	0	0	0	0
Net finance receivables and net investment in operating leases	(9,080)	(8,443)	(9,080)	(8,443)
Total assets	$ 0	$ 0	$ 0	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) € in Millions, $ in Millions	Jun. 30, 2020USD ($)	Jun. 30, 2020EUR (€)	Mar. 31, 2020	Dec. 31, 2019USD ($)
Guarantor Obligations [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 46.5
Financial Guarantee [Member]
Guarantor Obligations [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	126			$ 53
Counter Guarantee [Member] | Ford Motor Company [Member]
Guarantor Obligations [Line Items]
Counter guarantee	$ 49			$ 48
Minimum [Member]
Guarantor Obligations [Line Items]
Lessee, Operating Lease, Term of Contract			1 year
Maximum [Member]
Guarantor Obligations [Line Items]
Lessee, Operating Lease, Term of Contract			31 years
Euro Member Countries, Euro
Guarantor Obligations [Line Items]
Loss Contingency, Estimate of Possible Loss | €		€ 42