Ford Motor Credit (FCZ) 10-Q 28 Oct 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document	9 Months Ended
	Sep. 30, 2021shares
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
Entity File Number	1-6368
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
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
Document Period End Date	Sep. 30, 2021
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/25M
Trading Symbol	F/25M
Security Exchange Name	NYSE
Title of 12(b) Security	3.250% Notes due September 15, 2025*
F/24S
Trading Symbol	F/24S
Security Exchange Name	NYSE
Title of 12(b) Security	2.748% Notes due on June 14, 2024*
F/24L [Member]
Trading Symbol	F/24L
Security Exchange Name	NYSE
Title of 12(b) Security	Floating Rate Notes due December 1, 2024*
F/21AQ [Member]
Trading Symbol	F/21AQ
Security Exchange Name	NYSE
Title of 12(b) Security	Floating Rate Notes due December 1, 2021*
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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Financing revenue
Retail financing	$ 955	$ 1,008	$ 2,949	$ 2,925
Dealer financing	148	345	621	1,171
Other	9	22	36	71
Revenue from Contract with Customer, Excluding Assessed Tax	2,397	2,782	7,638	8,434
Depreciation on vehicles subject to operating leases	(441)	(537)	(1,200)	(2,579)
Interest expense	(668)	(792)	(2,152)	(2,615)
Net financing margin	1,288	1,453	4,286	3,240
Other revenue
Premiums Earned, Net	15	32	59	113
Fee based revenue and other	61	41	134	133
Total financing margin and other revenue	1,364	1,526	4,479	3,486
Operating expenses	323	311	988	978
Provision for credit losses	(59)	86	(265)	765
Insurance expenses	5	16	14	82
Total expenses	269	413	737	1,825
Other Income / Loss	(18)	10	(80)	35
Income before income taxes	1,077	1,123	3,662	1,696
Provision for income taxes	97	82	186	185
Net income	980	1,041	3,476	1,511
Operating Lease, Lease Income	$ 1,285	$ 1,407	$ 4,032	$ 4,267

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net income	$ 980	$ 1,041	$ 3,476	$ 1,511
Other comprehensive income/(loss), net of tax
Foreign currency translation	(179)	238	(172)	(23)
Comprehensive income / (loss)	$ 801	$ 1,279	$ 3,304	$ 1,488

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 12,963	$ 14,349
Marketable securities	2,046	4,860
Net Investment in Operating Leases	25,459	26,655
Finance receivables, net	91,004	105,070
Notes and accounts receivable from affiliated companies	519	853
Derivative financial instruments	1,479	2,601
Disposal Group, Including Discontinued Operation, Assets	27	36
Other assets	2,571	3,705
Total assets	136,068	158,129
Liabilities
Accounts Payable, Trade	1,089	1,087
Affiliated companies	576	490
Accounts Payable And Due To Affiliated Entities	1,665	1,577
Debt	118,956	137,677
Deferred income taxes	502	504
Derivative financial instruments	454	524
Other liabilities and deferred income	2,120	2,280
Total liabilities	123,697	142,562
SHAREHOLDER’S INTEREST	5,227	5,227
Shareholder's interest
Accumulated other comprehensive income	(650)	(478)
Retained earnings	7,794	10,818
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	12,371	15,567
Total liabilities and shareholder's interest	136,068	158,129
Variable Interest Entity, Primary Beneficiary [Member]
ASSETS
Cash and cash equivalents	5,657	2,822
Net Investment in Operating Leases	8,759	12,794
Finance receivables, net	43,248	51,472
Derivative financial instruments	11	0
Liabilities
Debt	39,576	46,770
Derivative financial instruments	10	56
Retail Installment loans, dealer financing, and other financing [Member]
ASSETS
Finance receivables, net	83,705	97,043
Loans and Finance Receivables [Member]
ASSETS
Finance receivables, net	7,299	8,027
Property Subject to Operating Lease [Member]
ASSETS
Net Investment in Operating Leases	$ 25,459	$ 26,655

Consolidated Balance Sheet (par

Consolidated Balance Sheet (parenthetical) - USD ($) $ in Millions	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Financing Receivable, Allowance for Credit Loss	$ (984)	$ (1,061)	$ (1,305)	$ (1,314)	$ (1,285)	$ (513)

Consolidated Statement of Share

Consolidated Statement of Shareholder's Interest - USD ($) $ in Millions	Jan. 01, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Shareholder's Interest [Roll Forward]
Net income		$ (980)	$ (1,651)	$ (845)	$ (1,041)	$ (476)	$ 6	$ (3,476)	$ (1,511)
Other Comprehensive Income (Loss), Net of Tax		(179)	108	(101)	238	87	(348)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance	$ 15,567	13,070	15,311	15,567	15,187	15,450	16,389	15,567	16,389
Distributions declared		1,500	4,000	1,000	831	826	343
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance		12,371	13,070	15,311	15,635	15,187	15,450	12,371	15,635
Accounting Standards Update 2019-12, 2016-13
Shareholder's Interest [Roll Forward]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance					(242)				(242)
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	5,227	5,227	5,227
Net income		0	0	0	0	0	0
Other Comprehensive Income (Loss), Net of Tax		0	0	0	0	0	0
Distributions declared		0	0	0	0	0	0
Balance at end of period		5,227	5,227	5,227	5,227	5,227	5,227	5,227	5,227
Shareholder's Interest [Member] | Accounting Standards Update 2019-12, 2016-13
Shareholder's Interest [Roll Forward]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance					0				0
Accumulated Other Comprehensive Income/(Loss) (Note11) [Member]
Shareholder's Interest [Roll Forward]
Balance at beginning of period	(478)	(471)	(579)	(478)	(1,111)	(1,198)	(850)	(478)	(850)
Net income		0	0	0	0	0	0
Other Comprehensive Income (Loss), Net of Tax		(179)	108	(101)	238	87	(348)
Distributions declared		0	0	0	0	0	0
Balance at end of period		(650)	(471)	(579)	(873)	(1,111)	(1,198)	(650)	(873)
Accumulated Other Comprehensive Income/(Loss) (Note11) [Member] | Accounting Standards Update 2019-12, 2016-13
Shareholder's Interest [Roll Forward]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance					0				0
Retained Earnings [Member]
Shareholder's Interest [Roll Forward]
Balance at beginning of period	10,818	8,314	10,663	10,818	11,071	11,421	12,012	10,818	12,012
Net income		(980)	(1,651)	(845)	(1,041)	(476)	(6)
Other Comprehensive Income (Loss), Net of Tax		0	0	0	0	0	0
Distributions declared		1,500	4,000	1,000	831	826	343
Balance at end of period		$ 7,794	$ 8,314	$ 10,663	11,281	$ 11,071	$ 11,421	$ 7,794	11,281
Retained Earnings [Member] | Accounting Standards Update 2019-12
Shareholder's Interest [Roll Forward]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	(40)
Retained Earnings [Member] | Accounting Standards Update 2019-12, 2016-13
Shareholder's Interest [Roll Forward]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	$ (242)				$ (242)				$ (242)

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities
Net Income	$ 3,476	$ 1,511
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Provision for credit losses	(265)	765
Depreciation Depletion and Amortizations	1,752	3,150
Amortization Of Upfront Interest Supplements	(1,716)	(1,634)
Net Change in Finance Receivables Held-for-sale	0	(74)
Net change in deferred income taxes	(15)	98
Net change in other assets	558	(313)
Net change in other liabilities	(43)	(299)
All other operating activities	119	118
Net Cash Provided by (Used in) Operating Activities	3,866	3,322
Cash flows from investing activities
Purchases of finance receivables	(25,076)	(32,145)
Principal collections of finance receivables	31,378	30,006
Purchases of operating lease vehicles	(8,367)	(8,523)
Proceeds From Liquidations of Operating Lease Vehicles	8,716	7,227
Net change in wholesale receivables and other	8,525	11,758
Proceeds from Divestiture of Businesses	0	1,340
Purchases of marketable securities	(7,143)	(6,957)
Proceeds from sales and maturities of marketable securities	9,940	6,029
Settlements of derivatives	(44)	(107)
All other investing activities	(53)	81
Net Cash Provided by (Used in) Investing Activities	17,876	8,709
Cash flows from financing activities
Proceeds from issuances of long-term debt	17,000	30,168
Principal payments on long-term debt	(35,729)	(34,807)
Change in short-term debt, net	1,712	(3,331)
Cash distributions to parent	(6,500)	(2,000)
All other financing activities	(52)	(79)
Net Cash Provided by (Used in) Financing Activities	(23,569)	(10,049)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	(77)	2
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at January 1	14,996	9,268
Net increase/(decrease) in cash, cash equivalents, and restricted cash	(1,904)	1,984
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at March 31	$ 13,092	$ 11,252

Presentation

Presentation	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Presentation	PRESENTATIONPrinciples of ConsolidationThe consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States (“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 its consolidated VIEs in which Ford Motor Credit Company LLC is the primary beneficiary (collectively referred to herein as “Ford Credit,” “we,” “our,” or “us”). Results for interim periods should not be considered indicative of results for any other interim period or for the full year. Reference should be made to the financial statements contained in our Annual Report on Form 10-K for the year ended December 31, 2020 (“2020 Form 10-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.

Accounting Policies

Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Accounting Policies	ACCOUNTING POLICIES Adoption of New Accounting Standards Accounting Standards Update (“ASU”) 2019-12 - Income Taxes - Simplifying the Accounting for Income Taxes . Effective January 1, 2021, we adopted the amendments in this ASU to simplify the accounting for income taxes. The only amendment that had a material effect on our financial statements clarified that an entity may elect, but is not required, to reflect an allocation of consolidated current and deferred tax expense for non-taxable legal entities that are treated as disregarded by taxing authorities in their separately issued financial statements. With the adoption of the amendments, our financial statements no longer reflect an allocation of the Ford Motor Company consolidated United States current and deferred tax expense to us and certain of our United States subsidiaries that are treated as disregarded entities for United States tax purposes. These amendments reduce complexity in accounting for income taxes and better reflect our external obligations to tax authorities. Following the adoption, in April 2021, we entered into a Second Amended and Restated Tax Sharing Agreement with Ford. NOTE 2. ACCOUNTING POLICIES (C ontinued) The effect of the retrospective adoption of this amendment on our consolidated income statement, balance sheet, and statement of cash flows was as follows (in millions): For the Period Ended September 30, 2020 Third Quarter First Nine Months Previously Reported Adjustments As Revised Previously Reported Adjustments As Revised Income Statement Provision for / (Benefit from) income taxes $ 264 $ (182) $ 82 $ 409 $ (224) $ 185 Net income 859 182 1,041 1,287 224 1,511 As of December 31, 2020 Previously Reported Adjustments due to ASU 2019-12 As Revised Balance Sheet Other assets $ 4,593 $ (888) $ 3,705 Deferred income taxes (a) 2,907 (2,403) 504 Other liabilities and deferred income 2,306 (26) 2,280 Accumulated other comprehensive income / (loss) (413) (65) (478) Retained earnings 9,212 1,606 10,818 For the Period Ended September 30, 2020 First Nine Months Previously Reported Adjustments due to ASU 2019-12 As Revised Statement of Cash Flows Cash flows from operating activities Net income $ 1,287 $ 224 $ 1,511 Net change in deferred income taxes 234 (136) 98 Net change in other assets (1,235) 922 (313) Net change in other liabilities (205) (94) (299) All other operating activities 159 (41) 118 Cash flows from financing activities Cash distributions to parent (1,125) (875) (2,000) _________ (a) Change reflects a reduction in U.S. deferred tax liabilities of $3.4 billion (primarily leasing transactions of $2.8 billion) and a reduction of U.S. deferred tax assets of $1.0 billion (primarily associated with foreign tax credit carryforwards of $0.7 billion). Adoption of ASU 2019-12 also resulted in a revised impact of the cumulative effect of initially applying ASU 2016-13, Credit Losses – Measurement of Credit Losses on Financial Instruments. The adjustment to the January 1, 2020 opening balance of Retained earnings for the adoption of ASU 2016-13 was previously reported as $202 million, and adjustments due to ASU 2019-12 were $40 million. Accordingly, the revised amount is $242 million. NOTE 2. ACCOUNTING POLICIES (C ontinued) We also adopted the following ASUs during 2021, none of which had a material impact to our consolidated financial statements or financial statement disclosures: ASU Effective Date 2020-06 Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity January 1, 2021 2021-01 Reference Rate Reform January 1, 2021 Accounting Standards Issued But Not Yet Adopted The Company considers the applicability and impacts of all ASUs. ASUs were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial statements. Provision for Income Taxes For interim tax reporting, we estimate one single effective tax rate for subsidiaries that are subject to tax, 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.

Cash and Cash Equivalents

Cash and Cash Equivalents	9 Months Ended
	Sep. 30, 2021
Cash and Cash Equivalents [Abstract]
CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES	CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES The fair values of cash, cash equivalents, and marketable securities measured at fair value on a recurring basis were as follows (in millions): Fair Value Level December 31, September 30, Cash and cash equivalents United States government 1 $ 3,255 $ 1,715 United States government agencies 2 640 — Non-United States government and agencies 2 717 454 Corporate debt 2 970 995 Total marketable securities classified as cash equivalents 5,582 3,164 Cash, time deposits, and money market funds 8,767 9,799 Total cash and cash equivalents $ 14,349 $ 12,963 Marketable securities United States government 1 $ 1,082 $ 448 United States government agencies 2 485 175 Non-United States government and agencies 2 2,693 878 Corporate debt 2 308 291 Other marketable securities 2 292 254 Total marketable securities $ 4,860 $ 2,046 NOTE 3. CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES (Continued) Cash, Cash Equivalents, and Restricted Cash Cash, cash equivalents, and restricted cash, as reported in the consolidated statements of cash flows, were as follows (in millions): December 31, September 30, Cash and cash equivalents $ 14,349 $ 12,963 Restricted cash (a) 647 129 Total cash, cash equivalents, and restricted cash $ 14,996 $ 13,092 __________ (a) Restricted cash is included in Other assets on our consolidated balance sheets and is primarily 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	9 Months Ended
	Sep. 30, 2021
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, September 30, Consumer Retail installment contracts, gross $ 73,726 $ 68,385 Finance leases, gross 8,431 7,644 Retail financing, gross 82,157 76,029 Unearned interest supplements from Ford and affiliated companies (3,987) (3,086) Consumer finance receivables 78,170 72,943 Non-Consumer Dealer financing 26,517 17,424 Other financing 1,688 1,621 Non-Consumer finance receivables 28,205 19,045 Total recorded investment $ 106,375 $ 91,988 Recorded investment in finance receivables $ 106,375 $ 91,988 Allowance for credit losses (1,305) (984) Total finance receivables, net $ 105,070 $ 91,004 Net finance receivables subject to fair value (a) $ 97,043 $ 83,705 Fair value (b) 98,630 85,085 __________ (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. NOTE 4. FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Continued) Finance leases are comprised of sales-type and direct financing leases. Financing revenue from finance leases for the third quarter of 2020 and 2021 was $96 million and $86 million, respectively, and for the first nine months of 2020 and 2021 was $268 million and $264 million, respectively, and is included in Retail financing on the consolidated income statements. At December 31, 2020 and September 30, 2021, accrued interest was $181 million and $125 million, respectively, which we report in Other assets on the consolidated balance sheets. Included in the 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. Credit Quality Consumer Portfolio. Credit quality ratings for consumer receivables are based on our aging analysis. Consumer receivables credit quality ratings are as follows: • Pass – current to 60 days past due; • Special Mention – 61 to 120 days past due and in intensified collection status; and • Substandard – greater than 120 days past due and for which the uncollectible portion of the receivables has already been charged off, as measured using the fair value of collateral less costs to sell. The credit quality analysis of consumer receivables at December 31, 2020 was as follows (in millions): Amortized Cost Basis by Origination Year Prior to 2016 2016 2017 2018 2019 2020 Total Percent Consumer 31-60 days past due $ 45 $ 62 $ 103 $ 162 $ 166 $ 143 $ 681 0.9 % 61-120 days past due 7 12 24 44 45 31 163 0.2 Greater than 120 days past due 11 6 7 8 7 2 41 — Total past due 63 80 134 214 218 176 885 1.1 Current 782 2,519 6,656 13,725 20,856 32,747 77,285 98.9 Total $ 845 $ 2,599 $ 6,790 $ 13,939 $ 21,074 $ 32,923 $ 78,170 100.0 % The credit quality analysis of consumer receivables at September 30, 2021 was as follows (in millions): Amortized Cost Basis by Origination Year Prior to 2017 2017 2018 2019 2020 2021 Total Percent Consumer 31-60 days past due $ 44 $ 54 $ 94 $ 114 $ 157 $ 50 $ 513 0.7 % 61-120 days past due 7 12 21 28 34 14 116 0.2 Greater than 120 days past due 12 7 8 10 9 — 46 — Total past due 63 73 123 152 200 64 675 0.9 Current 1,195 3,452 8,114 14,566 25,369 19,572 72,268 99.1 Total $ 1,258 $ 3,525 $ 8,237 $ 14,718 $ 25,569 $ 19,636 $ 72,943 100.0 % NOTE 4. FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Continued) Non-Consumer Portfolio. The credit quality of dealer financing receivables is evaluated based on our internal dealer risk rating analysis. 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. 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, 2020 was as follows (in millions): Amortized Cost Basis by Origination Year Dealer Loans Prior to 2016 2016 2017 2018 2019 2020 Total Wholesale Loans Total Percent Group I $ 503 $ 129 $ 110 $ 188 $ 70 $ 248 $ 1,248 $ 18,769 $ 20,017 75.5 % Group II 38 20 11 35 3 87 194 4,680 4,874 18.4 Group III 9 — 3 19 3 35 69 1,464 1,533 5.8 Group IV 2 — — — 2 6 10 83 93 0.3 Total (a) $ 552 $ 149 $ 124 $ 242 $ 78 $ 376 $ 1,521 $ 24,996 $ 26,517 100.0 % __________ (a) Total past due dealer financing receivables at December 31, 2020 were $99 million. The credit quality analysis of dealer financing receivables at September 30, 2021 was as follows (in millions): Amortized Cost Basis by Origination Year Dealer Loans Prior to 2017 2017 2018 2019 2020 2021 Total Wholesale Loans Total Percent Group I $ 464 $ 91 $ 173 $ 46 $ 111 $ 260 $ 1,145 $ 12,498 $ 13,643 78.3 % Group II 12 5 25 2 6 70 120 2,888 3,008 17.3 Group III 10 — 1 — 1 24 36 676 712 4.1 Group IV — — 4 — — 5 9 52 61 0.3 Total (a) $ 486 $ 96 $ 203 $ 48 $ 118 $ 359 $ 1,310 $ 16,114 $ 17,424 100.0 % __________ (a) Total past due dealer financing receivables at September 30, 2021 were $64 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 a concession is granted 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 the receivables. If a receivable is modified in a reorganization proceeding, all payment requirements of the reorganization plan need to be met before remaining balances are forgiven. Allowance for Credit Losses The allowance for credit losses represents an estimate of the lifetime expected credit losses inherent in finance receivables as of the balance sheet date. Adjustments 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 the collateral is recorded at its estimated fair value less costs to sell and reported in Other assets on our consolidated balance sheets. An analysis of the allowance for credit losses related to finance receivables for the periods ended September 30 was as follows (in millions): Third Quarter 2020 First Nine Months 2020 Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 1,211 $ 74 $ 1,285 $ 496 $ 17 $ 513 Adoption of ASU 2016-13 (a) — — — 247 5 252 Charge-offs (104) (5) (109) (329) (6) (335) Recoveries 41 2 43 117 5 122 Provision for credit losses 95 (9) 86 723 42 765 Other (b) 8 1 9 (3) — (3) Ending balance $ 1,251 $ 63 $ 1,314 $ 1,251 $ 63 $ 1,314 Third Quarter 2021 First Nine Months 2021 Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 1,022 $ 39 $ 1,061 $ 1,245 $ 60 $ 1,305 Charge-offs (58) (2) (60) (210) (5) (215) Recoveries 50 1 51 158 6 164 Provision for credit losses (58) (1) (59) (242) (23) (265) Other (b) (9) — (9) (4) (1) (5) Ending balance $ 947 $ 37 $ 984 $ 947 $ 37 $ 984 __________ (a) Cumulative pre-tax adjustments related to the adoption of ASU 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments, were recorded in retained earnings as of January 1, 2020. (b) Primarily represents amounts related to translation adjustments. NOTE 4. FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Continued) The allowance for credit losses considers economic conditions attributable to the COVID-19 pandemic. The allowance reflects economic uncertainty and an expectation of continued higher unemployment, which increases the probability of default and loss given default rates used in our estimate of the lifetime expected credit losses for our consumer portfolio, especially in the United States. During the third quarter and first nine months of 2021, the allowance for credit losses decreased $77 million and $321 million, respectively, primarily reflecting improvement in the economic outlook that caused us to lower our expectation of lifetime losses attributable to macroeconomic assumptions driven by COVID-19. Although net charge-offs remained low in the third quarter and first nine months ended September 30, 2021, due in part to government stimulus, changes in consumer spending behavior, and high vehicle collateral values, the impact of COVID-19 on future credit losses remains uncertain. We will continue to monitor economic trends and conditions and portfolio performance and will adjust the reserve accordingly.

Net Investments in Operating Le

Net Investments in Operating Leases	9 Months Ended
	Sep. 30, 2021
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 investment in operating leases 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. Net investment in operating leases was as follows (in millions): December 31, September 30, Vehicles, at cost (a) $ 32,495 $ 30,467 Accumulated depreciation (5,840) (5,008) Net investment in operating leases $ 26,655 $ 25,459 __________

Transfers of Receivables

Transfers of Receivables	9 Months Ended
	Sep. 30, 2021
Transfers and Servicing [Abstract]
TRANSFERS OF RECEIVABLES	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. 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 (“SPEs”) 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, and therefore, are consolidated. The SPEs are established for the sole purpose of financing the securitized financial assets. The SPEs are generally financed through the issuance of notes or commercial paper into the public or private markets or directly with conduits. We continue to recognize our financial assets related to our sales of receivables when the financial assets are sold to a consolidated VIE or a consolidated voting interest entity. We derecognize our financial assets when the financial assets are sold to a non-consolidated entity and we do not maintain control over the financial assets. We have the power to direct significant activities of our special purpose entities when we have the ability to exercise discretion in the servicing of financial assets, issue additional debt, exercise a unilateral call option, add assets to revolving structures, or control investment decisions. We generally retain economic interests in the asset-backed securitization transactions, which are retained in the form of senior or subordinated interests, cash reserve accounts, residual interests, and servicing rights. For accounting purposes, we are precluded from recording the transfers of assets in securitization transactions as sales. 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. Certain of our securitization entities may enter into derivative transactions to mitigate interest rate exposure, primarily resulting from fixed-rate assets securing floating-rate debt. In certain instances, the counterparty enters into offsetting derivative transactions with us to mitigate its interest rate risk resulting from derivatives with our securitization entities. These related derivatives are not the obligations of our securitization entities. See Note 7 for additional information regarding derivatives. NOTE 6. TRANSFERS OF RECEIVABLES AND VARIABLE INTEREST ENTITIES (Continued) 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 consolidated financial statements (in billions): December 31, 2020 Cash and Cash Equivalents Finance Receivables and Net Investment in Operating Leases (a) Related Debt Before Allowance Allowance for After Allowance VIE (b) Retail financing $ 2.0 $ 35.8 $ 0.4 $ 35.4 $ 28.4 Wholesale financing 0.2 16.1 — 16.1 10.7 Finance receivables 2.2 51.9 0.4 51.5 39.1 Net investment in operating leases 0.6 12.8 — 12.8 7.7 Total VIE $ 2.8 $ 64.7 $ 0.4 $ 64.3 $ 46.8 Non-VIE Retail financing $ 0.4 $ 7.9 $ 0.1 $ 7.8 $ 7.6 Wholesale financing — 0.3 — 0.3 0.2 Finance receivables 0.4 8.2 0.1 8.1 7.8 Net investment in operating leases — — — — — Total Non-VIE $ 0.4 $ 8.2 $ 0.1 $ 8.1 $ 7.8 Total securitization transactions Retail financing $ 2.4 $ 43.7 $ 0.5 $ 43.2 $ 36.0 Wholesale financing (d) 0.2 16.4 — 16.4 10.9 Finance receivables 2.6 60.1 0.5 59.6 46.9 Net investment in operating leases 0.6 12.8 — 12.8 7.7 Total securitization transactions $ 3.2 $ 72.9 $ 0.5 $ 72.4 $ 54.6 __________ (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. (d) The global adjusted pool balance of the wholesale finance receivables included in the securitization trusts was $16.4 billion and the required pool balance was $14.1 billion. The global adjusted pool balance includes funds on deposit in the trust accounts. As of December 31, 2020, the adjusted pool balance was $2.3 billion higher than the required pool balance. NOTE 6. TRANSFERS OF RECEIVABLES AND VARIABLE INTEREST ENTITIES (Continued) September 30, 2021 Cash and Cash Equivalents Finance Receivables and Net Investment in Operating Leases (a) Related Debt Before Allowance Allowance for After Allowance VIE (b) Retail financing $ 1.8 $ 31.5 $ 0.3 $ 31.2 $ 24.4 Wholesale financing 3.4 12.0 — 12.0 9.6 Finance receivables 5.2 43.5 0.3 43.2 34.0 Net investment in operating leases 0.5 8.8 — 8.8 5.6 Total VIE $ 5.7 $ 52.3 $ 0.3 $ 52.0 $ 39.6 Non-VIE Retail financing $ 0.3 $ 5.8 $ 0.1 $ 5.7 $ 5.3 Wholesale financing — 0.3 — 0.3 0.2 Finance receivables 0.3 6.1 0.1 6.0 5.5 Net investment in operating leases — — — — — Total Non-VIE $ 0.3 $ 6.1 $ 0.1 $ 6.0 $ 5.5 Total securitization transactions Retail financing $ 2.1 $ 37.3 $ 0.4 $ 36.9 $ 29.7 Wholesale financing (d) 3.4 12.3 — 12.3 9.8 Finance receivables 5.5 49.6 0.4 49.2 39.5 Net investment in operating leases 0.5 8.8 — 8.8 5.6 Total securitization transactions $ 6.0 $ 58.4 $ 0.4 $ 58.0 $ 45.1 __________ (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. (d) The global adjusted pool balance of the wholesale finance receivables included in the securitization trusts was $12.3 billion and the required pool balance was $12.3 billion. The global adjusted pool balance includes funds on deposit in the trust accounts.

Derivative Financial Instrument

Derivative Financial Instruments and Hedging Activities	9 Months Ended
	Sep. 30, 2021
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 September 30 were as follows (in millions): Third Quarter First Nine Months 2020 2021 2020 2021 Fair value hedges Interest rate contracts Net interest settlements and accruals on hedging instruments $ 94 $ 98 $ 190 $ 299 Fair value changes on hedging instruments (103) (142) 1,119 (680) Fair value changes on hedged debt 96 135 (1,095) 638 Cross-currency interest rate swap contracts Net interest settlements and accruals on hedging instruments (1) (2) (1) (6) Fair value changes on hedging instruments (10) (28) (10) (67) Fair value changes on hedged debt 6 25 6 58 Derivatives not designated as hedging instruments Interest rate contracts (4) — (90) (25) Foreign currency exchange contracts (a) (106) 79 60 87 Cross-currency interest rate swap contracts 210 (194) 213 (390) Total $ 182 $ (29) $ 392 $ (86) __________ (a) Reflects forward contracts between us and an affiliated company. NOTE 7. DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Continued) 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, 2020 September 30, 2021 Notional Fair Value of Assets Fair Value of Liabilities Notional Fair Value of Assets Fair Value of Liabilities Fair value hedges Interest rate contracts $ 26,924 $ 1,331 $ 4 $ 26,007 $ 853 $ 150 Cross-currency interest rate swap contracts 885 46 — 885 — 29 Derivatives not designated as hedging instruments Interest rate contracts 70,318 663 439 52,018 316 183 Foreign currency exchange contracts 4,378 4 80 5,925 129 53 Cross-currency interest rate swap contracts 6,849 557 1 6,547 181 39 Total derivative financial instruments, gross (a) (b) $ 109,354 $ 2,601 $ 524 $ 91,382 $ 1,479 $ 454 __________ (a) At December 31, 2020 and September 30, 2021, we held collateral of $9 million, and we posted collateral of $96 million and $59 million, respectively.

Other Assets and Other Liabilit

Other Assets and Other Liabilities and Deferred Income	9 Months Ended
	Sep. 30, 2021
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, September 30, Accrued interest and other non-finance receivables (a) $ 837 $ 622 Prepaid reinsurance premiums and other reinsurance recoverables 708 737 Collateral held for resale, at net realizable value 675 286 Restricted cash 647 129 Property and equipment, net of accumulated depreciation (b) 219 220 Deferred charges - income taxes (a) 166 177 Investment in non-consolidated affiliates 132 147 Operating lease assets 98 78 Other 223 175 Total other assets (a) $ 3,705 $ 2,571 __________ (a) Prior period amounts have been updated as a result of our adoption of ASU 2019-12, Simplifying the Accounting for Income Taxes. See Note 2 for additional information. (b) Accumulated depreciation was $365 million and $310 million at December 31, 2020 and September 30, 2021, respectively. Other liabilities and deferred revenue were as follows (in millions): December 31, September 30, Unearned insurance premiums and fees $ 822 $ 853 Interest payable 857 605 Income tax and related interest (a) (b) 121 242 Operating lease liabilities 100 80 Deferred revenue 87 75 Other 293 265 Total other liabilities and deferred revenue (a) $ 2,280 $ 2,120 __________ (a) Prior period amounts have been updated as a result of our adoption of ASU 2019-12, Simplifying the Accounting for Income Taxes. See Note 2 for additional information. (b) Includes income tax and interest payable to affiliated companies of $16 million and $116 million at December 31, 2020 and September 30, 2021, respectively.

Debt

Debt	9 Months Ended
	Sep. 30, 2021
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, September 30, 2020 2021 2020 2021 Short-term debt Unsecured debt Floating rate demand notes $ 6,458 $ 8,643 Other short-term debt 3,940 4,010 Asset-backed debt (a) 1,031 403 Total short-term debt 11,429 13,056 1.5 % 1.3 % 1.6 % 1.3 % Long-term debt Unsecured debt Notes payable within one year 17,185 13,229 Notes payable after one year 54,197 47,396 Asset-backed debt (a) Notes payable within one year 21,345 19,187 Notes payable after one year 32,276 25,542 Unamortized (discount) / premium 30 30 Unamortized issuance costs (252) (227) Fair value adjustments (b) 1,467 743 Total long-term debt 126,248 105,900 2.7 % 2.6 % 2.7 % 2.6 % Total debt $ 137,677 $ 118,956 2.6 % 2.5 % 2.6 % 2.5 % Fair value of debt (c) $ 139,796 $ 121,369 __________ (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 are related to hedging activity and include discontinued hedging relationship adjustments of $299 million and $220 million at December 31, 2020 and September 30, 2021, respectively. The carrying value of hedged debt was $45.5 billion and $38.0 billion at December 31, 2020 and September 30, 2021, respectively.
OTHER INCOME, NET	OTHER INCOME / (LOSS) Other income / (loss) consists of various line items that are combined on the consolidated 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 September 30 were as follows (in millions): Third Quarter First Nine Months 2020 2021 2020 2021 Gains / (Losses) on derivatives $ 93 $ (140) $ 176 $ (381) Currency revaluation gains / (losses) (90) 109 (259) 262 Interest and investment income 13 9 103 22 Other (6) 4 15 17 Total other income / (loss), net $ 10 $ (18) $ 35 $ (80)

Restructuring and Related Activ

Restructuring and Related Activities	9 Months Ended
	Sep. 30, 2021
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure	EMPLOYEE SEPARATION AND RESTRUCTURING ACTIONS We record costs associated with voluntary separations at the time of employee acceptance, unless the acceptance requires explicit approval by Ford Credit. We record costs associated with involuntary separation programs when management has approved the plan for separation, the affected employees are identified, and it is unlikely that actions required to complete the separation plan will change significantly. Costs associated with benefits that are contingent on the employee continuing to provide service are accrued over the required service period. South America . In June 2021, we announced that our subsidiaries in Brazil and Argentina had committed to a plan to cease originating receivables by the end of 2021 and would begin the process of selling or otherwise winding down operations in those markets. During the third quarter, we entered into an agreement to sell our Brazil wholesale and dealer receivables and classified the $27 million portfolio as held-for-sale. The sale was completed effective October 1, 2021. During the first nine months of 2021, we recorded approximately $11 million related to employee separation costs in Operating expenses , the majority of which will be paid in 2021. NOTE 10. EMPLOYEE SEPARATION AND RESTRUCTURING ACTIONS (Continued) Accumulated foreign currency translation losses associated with our investments in Brazil and Argentina included in Accumulated other comprehensive income / (loss) at September 30, 2021 were $439 million. We expect to reclassify these losses to income upon sale, transfer, or substantially complete liquidation of our investments, which may occur over multiple reporting periods. Although the timing for the completion of these actions is uncertain, as they may be subject to regulatory approval, we expect reclassification of accumulated foreign currency translation adjustments to begin in the fourth quarter of 2021 with the majority of losses to be recognized in 2022 or later.

Other Income, Net

Other Income, Net	9 Months Ended
	Sep. 30, 2021
Other Income and Expenses [Abstract]
OTHER INCOME, NET	OTHER INCOME / (LOSS) Other income / (loss) consists of various line items that are combined on the consolidated 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 September 30 were as follows (in millions): Third Quarter First Nine Months 2020 2021 2020 2021 Gains / (Losses) on derivatives $ 93 $ (140) $ 176 $ (381) Currency revaluation gains / (losses) (90) 109 (259) 262 Interest and investment income 13 9 103 22 Other (6) 4 15 17 Total other income / (loss), net $ 10 $ (18) $ 35 $ (80)

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2021
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. In our consolidated financial statements, we have three reportable segments based on geographic regions: 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. Key financial information for our business segments for the periods ended or at September 30 was as follows (in millions): United States and Canada Europe All Other Total Unallocated Other (a) Total Third Quarter 2020 Total revenue $ 2,510 $ 245 $ 100 $ 2,855 $ — $ 2,855 Income before income taxes 932 73 14 1,019 104 1,123 Depreciation on vehicles subject to operating leases 549 (12) — 537 — 537 Interest expense 666 87 49 802 (10) 792 Provision for credit losses 79 1 6 86 — 86 Third Quarter 2021 Total revenue $ 2,129 $ 208 $ 136 $ 2,473 $ — $ 2,473 Income before income taxes 978 55 45 1,078 (1) 1,077 Depreciation on vehicles subject to operating leases 439 2 — 441 — 441 Interest expense 566 64 55 685 (17) 668 Provision for credit losses (67) 1 7 (59) — (59) First Nine Months 2020 Total revenue $ 7,589 $ 770 $ 321 $ 8,680 $ — $ 8,680 Income before income taxes 1,399 155 38 1,592 104 1,696 Depreciation on vehicles subject to operating leases 2,578 1 — 2,579 — 2,579 Interest expense 2,237 259 169 2,665 (50) 2,615 Provision for credit losses 675 68 22 765 — 765 Net finance receivables and net investment in operating leases (b) 114,266 22,023 4,329 140,618 (9,137) 131,481 Total assets (c) 122,995 25,720 4,859 153,574 — 153,574 First Nine Months 2021 Total revenue $ 6,808 $ 687 $ 336 $ 7,831 $ — $ 7,831 Income before income taxes 3,440 202 52 3,694 (32) 3,662 Depreciation on vehicles subject to operating leases 1,185 15 — 1,200 — 1,200 Interest expense 1,804 216 162 2,182 (30) 2,152 Provision for credit losses (284) (6) 25 (265) — (265) Net finance receivables and net investment in operating leases (b) 98,555 18,943 5,315 122,813 (6,350) 116,463 Total assets 108,917 21,163 5,988 136,068 — 136,068 __________ (a) Finance receivables, net and Net investment in operating leases includes unearned interest supplements and residual support, allowance for credit losses, and other (primarily accumulated supplemental depreciation). (b) Excludes held-for-sale finance receivables. (c) Amounts have been updated as a result of our adoption of ASU 2019-12, Simplifying the Accounting for Income Taxes. See Note 2 for additional information.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Commitments and contingencies primarily consist of guarantees and indemnifications as well as litigation and claims. 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 $153 million and $109 million at December 31, 2020 and September 30, 2021, respectively. Of these values, $62 million and $25 million at December 31, 2020 and September 30, 2021, respectively, were counter-guaranteed by Ford to us. There were no recorded liabilities related to guarantees and limited indemnities at December 31, 2020 or September 30, 2021. 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 the failure of the third party to fulfill its obligation covered by the guarantee. In some circumstances, we are entitled to recover from a third party amounts paid by us under the guarantee. However, our ability to enforce these rights is sometimes stayed until the guaranteed party is paid in full and may be limited in the event of insolvency of the third party or other circumstances. In the ordinary course of business, we execute contracts involving indemnifications standard in the industry and indemnifications specific to a transaction. 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 the contract brought by a counterparty 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 13. 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 received a decision from the Italian Competition Authority (“ICA”), which included an assessment of a fine against FCE in the amount of €42 million (equivalent to $48 million at September 30, 2021). On March 8, 2019, FCE appealed the decision and the fine to the Italian administrative court, and on November 24, 2020, the Italian administrative court ruled in favor of FCE. On December 23, 2020, the ICA filed an appeal of the Italian administrative court’s decision to the Italian Council of State. 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)	9 Months Ended
	Sep. 30, 2021
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 (“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 its consolidated VIEs in which Ford Motor Credit Company LLC is the primary beneficiary (collectively referred to herein as “Ford Credit,” “we,” “our,” or “us”). Results for interim periods should not be considered indicative of results for any other interim period or for the full year. Reference should be made to the financial statements contained in our Annual Report on Form 10-K for the year ended December 31, 2020 (“2020 Form 10-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.
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)
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 investment in operating leases 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.
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.

Accounting Policies (Tables)

Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Accounting Standards Update and Change in Accounting Principle	For the Period Ended September 30, 2020 Third Quarter First Nine Months Previously Reported Adjustments As Revised Previously Reported Adjustments As Revised Income Statement Provision for / (Benefit from) income taxes $ 264 $ (182) $ 82 $ 409 $ (224) $ 185 Net income 859 182 1,041 1,287 224 1,511 As of December 31, 2020 Previously Reported Adjustments due to ASU 2019-12 As Revised Balance Sheet Other assets $ 4,593 $ (888) $ 3,705 Deferred income taxes (a) 2,907 (2,403) 504 Other liabilities and deferred income 2,306 (26) 2,280 Accumulated other comprehensive income / (loss) (413) (65) (478) Retained earnings 9,212 1,606 10,818 For the Period Ended September 30, 2020 First Nine Months Previously Reported Adjustments due to ASU 2019-12 As Revised Statement of Cash Flows Cash flows from operating activities Net income $ 1,287 $ 224 $ 1,511 Net change in deferred income taxes 234 (136) 98 Net change in other assets (1,235) 922 (313) Net change in other liabilities (205) (94) (299) All other operating activities 159 (41) 118 Cash flows from financing activities Cash distributions to parent (1,125) (875) (2,000) _________ (a) Change reflects a reduction in U.S. deferred tax liabilities of $3.4 billion (primarily leasing transactions of $2.8 billion) and a reduction of U.S. deferred tax assets of $1.0 billion (primarily associated with foreign tax credit carryforwards of $0.7 billion).

Cash, Cash Equivalents, and Mar

Cash, Cash Equivalents, and Marketable Securities (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The fair values of cash, cash equivalents, and marketable securities measured at fair value on a recurring basis were as follows (in millions): Fair Value Level December 31, September 30, Cash and cash equivalents United States government 1 $ 3,255 $ 1,715 United States government agencies 2 640 — Non-United States government and agencies 2 717 454 Corporate debt 2 970 995 Total marketable securities classified as cash equivalents 5,582 3,164 Cash, time deposits, and money market funds 8,767 9,799 Total cash and cash equivalents $ 14,349 $ 12,963 Marketable securities United States government 1 $ 1,082 $ 448 United States government agencies 2 485 175 Non-United States government and agencies 2 2,693 878 Corporate debt 2 308 291 Other marketable securities 2 292 254 Total marketable securities $ 4,860 $ 2,046
Schedule of cash, cash equivalents and restricted cash [Table Text Block]	Cash, cash equivalents, and restricted cash, as reported in the consolidated statements of cash flows, were as follows (in millions): December 31, September 30, Cash and cash equivalents $ 14,349 $ 12,963 Restricted cash (a) 647 129 Total cash, cash equivalents, and restricted cash $ 14,996 $ 13,092 __________ (a) Restricted cash is included in Other assets on our consolidated balance sheets and is primarily 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)	9 Months Ended
	Sep. 30, 2021
Receivables [Abstract]
Financing Receivable, Allowance for Credit Loss	An analysis of the allowance for credit losses related to finance receivables for the periods ended September 30 was as follows (in millions): Third Quarter 2020 First Nine Months 2020 Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 1,211 $ 74 $ 1,285 $ 496 $ 17 $ 513 Adoption of ASU 2016-13 (a) — — — 247 5 252 Charge-offs (104) (5) (109) (329) (6) (335) Recoveries 41 2 43 117 5 122 Provision for credit losses 95 (9) 86 723 42 765 Other (b) 8 1 9 (3) — (3) Ending balance $ 1,251 $ 63 $ 1,314 $ 1,251 $ 63 $ 1,314 Third Quarter 2021 First Nine Months 2021 Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 1,022 $ 39 $ 1,061 $ 1,245 $ 60 $ 1,305 Charge-offs (58) (2) (60) (210) (5) (215) Recoveries 50 1 51 158 6 164 Provision for credit losses (58) (1) (59) (242) (23) (265) Other (b) (9) — (9) (4) (1) (5) Ending balance $ 947 $ 37 $ 984 $ 947 $ 37 $ 984 __________ (a) Cumulative pre-tax adjustments related to the adoption of ASU 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments, were recorded in retained earnings as of January 1, 2020.
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	Total finance receivables, net were as follows (in millions): December 31, September 30, Consumer Retail installment contracts, gross $ 73,726 $ 68,385 Finance leases, gross 8,431 7,644 Retail financing, gross 82,157 76,029 Unearned interest supplements from Ford and affiliated companies (3,987) (3,086) Consumer finance receivables 78,170 72,943 Non-Consumer Dealer financing 26,517 17,424 Other financing 1,688 1,621 Non-Consumer finance receivables 28,205 19,045 Total recorded investment $ 106,375 $ 91,988 Recorded investment in finance receivables $ 106,375 $ 91,988 Allowance for credit losses (1,305) (984) Total finance receivables, net $ 105,070 $ 91,004 Net finance receivables subject to fair value (a) $ 97,043 $ 83,705 Fair value (b) 98,630 85,085 __________ (a) Net finance receivables subject to fair value exclude finance leases.
Financing Receivable, Past Due [Table Text Block]	The credit quality analysis of consumer receivables at December 31, 2020 was as follows (in millions): Amortized Cost Basis by Origination Year Prior to 2016 2016 2017 2018 2019 2020 Total Percent Consumer 31-60 days past due $ 45 $ 62 $ 103 $ 162 $ 166 $ 143 $ 681 0.9 % 61-120 days past due 7 12 24 44 45 31 163 0.2 Greater than 120 days past due 11 6 7 8 7 2 41 — Total past due 63 80 134 214 218 176 885 1.1 Current 782 2,519 6,656 13,725 20,856 32,747 77,285 98.9 Total $ 845 $ 2,599 $ 6,790 $ 13,939 $ 21,074 $ 32,923 $ 78,170 100.0 % The credit quality analysis of consumer receivables at September 30, 2021 was as follows (in millions): Amortized Cost Basis by Origination Year Prior to 2017 2017 2018 2019 2020 2021 Total Percent Consumer 31-60 days past due $ 44 $ 54 $ 94 $ 114 $ 157 $ 50 $ 513 0.7 % 61-120 days past due 7 12 21 28 34 14 116 0.2 Greater than 120 days past due 12 7 8 10 9 — 46 — Total past due 63 73 123 152 200 64 675 0.9 Current 1,195 3,452 8,114 14,566 25,369 19,572 72,268 99.1 Total $ 1,258 $ 3,525 $ 8,237 $ 14,718 $ 25,569 $ 19,636 $ 72,943 100.0 %
Financing Receivables Credit Quality Indicators [Table Text Block]	The credit quality analysis of dealer financing receivables at December 31, 2020 was as follows (in millions): Amortized Cost Basis by Origination Year Dealer Loans Prior to 2016 2016 2017 2018 2019 2020 Total Wholesale Loans Total Percent Group I $ 503 $ 129 $ 110 $ 188 $ 70 $ 248 $ 1,248 $ 18,769 $ 20,017 75.5 % Group II 38 20 11 35 3 87 194 4,680 4,874 18.4 Group III 9 — 3 19 3 35 69 1,464 1,533 5.8 Group IV 2 — — — 2 6 10 83 93 0.3 Total (a) $ 552 $ 149 $ 124 $ 242 $ 78 $ 376 $ 1,521 $ 24,996 $ 26,517 100.0 % __________ (a) Total past due dealer financing receivables at December 31, 2020 were $99 million. The credit quality analysis of dealer financing receivables at September 30, 2021 was as follows (in millions): Amortized Cost Basis by Origination Year Dealer Loans Prior to 2017 2017 2018 2019 2020 2021 Total Wholesale Loans Total Percent Group I $ 464 $ 91 $ 173 $ 46 $ 111 $ 260 $ 1,145 $ 12,498 $ 13,643 78.3 % Group II 12 5 25 2 6 70 120 2,888 3,008 17.3 Group III 10 — 1 — 1 24 36 676 712 4.1 Group IV — — 4 — — 5 9 52 61 0.3 Total (a) $ 486 $ 96 $ 203 $ 48 $ 118 $ 359 $ 1,310 $ 16,114 $ 17,424 100.0 % __________

Net Investment in Operating Lea

Net Investment in Operating Leases (Tables)	9 Months Ended
	Sep. 30, 2021
Leases, Operating [Abstract]
Net investment in operating leases [Table Text Block]	Net investment in operating leases was as follows (in millions): December 31, September 30, Vehicles, at cost (a) $ 32,495 $ 30,467 Accumulated depreciation (5,840) (5,008) Net investment in operating leases $ 26,655 $ 25,459 __________

Transfers of Receivables (Table

Transfers of Receivables (Tables)	9 Months Ended
	Sep. 30, 2021
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 consolidated financial statements (in billions): December 31, 2020 Cash and Cash Equivalents Finance Receivables and Net Investment in Operating Leases (a) Related Debt Before Allowance Allowance for After Allowance VIE (b) Retail financing $ 2.0 $ 35.8 $ 0.4 $ 35.4 $ 28.4 Wholesale financing 0.2 16.1 — 16.1 10.7 Finance receivables 2.2 51.9 0.4 51.5 39.1 Net investment in operating leases 0.6 12.8 — 12.8 7.7 Total VIE $ 2.8 $ 64.7 $ 0.4 $ 64.3 $ 46.8 Non-VIE Retail financing $ 0.4 $ 7.9 $ 0.1 $ 7.8 $ 7.6 Wholesale financing — 0.3 — 0.3 0.2 Finance receivables 0.4 8.2 0.1 8.1 7.8 Net investment in operating leases — — — — — Total Non-VIE $ 0.4 $ 8.2 $ 0.1 $ 8.1 $ 7.8 Total securitization transactions Retail financing $ 2.4 $ 43.7 $ 0.5 $ 43.2 $ 36.0 Wholesale financing (d) 0.2 16.4 — 16.4 10.9 Finance receivables 2.6 60.1 0.5 59.6 46.9 Net investment in operating leases 0.6 12.8 — 12.8 7.7 Total securitization transactions $ 3.2 $ 72.9 $ 0.5 $ 72.4 $ 54.6 __________ (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. (d) The global adjusted pool balance of the wholesale finance receivables included in the securitization trusts was $16.4 billion and the required pool balance was $14.1 billion. The global adjusted pool balance includes funds on deposit in the trust accounts. As of December 31, 2020, the adjusted pool balance was $2.3 billion higher than the required pool balance. NOTE 6. TRANSFERS OF RECEIVABLES AND VARIABLE INTEREST ENTITIES (Continued) September 30, 2021 Cash and Cash Equivalents Finance Receivables and Net Investment in Operating Leases (a) Related Debt Before Allowance Allowance for After Allowance VIE (b) Retail financing $ 1.8 $ 31.5 $ 0.3 $ 31.2 $ 24.4 Wholesale financing 3.4 12.0 — 12.0 9.6 Finance receivables 5.2 43.5 0.3 43.2 34.0 Net investment in operating leases 0.5 8.8 — 8.8 5.6 Total VIE $ 5.7 $ 52.3 $ 0.3 $ 52.0 $ 39.6 Non-VIE Retail financing $ 0.3 $ 5.8 $ 0.1 $ 5.7 $ 5.3 Wholesale financing — 0.3 — 0.3 0.2 Finance receivables 0.3 6.1 0.1 6.0 5.5 Net investment in operating leases — — — — — Total Non-VIE $ 0.3 $ 6.1 $ 0.1 $ 6.0 $ 5.5 Total securitization transactions Retail financing $ 2.1 $ 37.3 $ 0.4 $ 36.9 $ 29.7 Wholesale financing (d) 3.4 12.3 — 12.3 9.8 Finance receivables 5.5 49.6 0.4 49.2 39.5 Net investment in operating leases 0.5 8.8 — 8.8 5.6 Total securitization transactions $ 6.0 $ 58.4 $ 0.4 $ 58.0 $ 45.1 __________ (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. (d) The global adjusted pool balance of the wholesale finance receivables included in the securitization trusts was $12.3 billion and the required pool balance was $12.3 billion. The global adjusted pool balance includes funds on deposit in the trust accounts.

Derivative Financial Instrume_2

Derivative Financial Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2021
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 September 30 were as follows (in millions): Third Quarter First Nine Months 2020 2021 2020 2021 Fair value hedges Interest rate contracts Net interest settlements and accruals on hedging instruments $ 94 $ 98 $ 190 $ 299 Fair value changes on hedging instruments (103) (142) 1,119 (680) Fair value changes on hedged debt 96 135 (1,095) 638 Cross-currency interest rate swap contracts Net interest settlements and accruals on hedging instruments (1) (2) (1) (6) Fair value changes on hedging instruments (10) (28) (10) (67) Fair value changes on hedged debt 6 25 6 58 Derivatives not designated as hedging instruments Interest rate contracts (4) — (90) (25) Foreign currency exchange contracts (a) (106) 79 60 87 Cross-currency interest rate swap contracts 210 (194) 213 (390) Total $ 182 $ (29) $ 392 $ (86) __________ (a) Reflects forward contracts between us 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, 2020 September 30, 2021 Notional Fair Value of Assets Fair Value of Liabilities Notional Fair Value of Assets Fair Value of Liabilities Fair value hedges Interest rate contracts $ 26,924 $ 1,331 $ 4 $ 26,007 $ 853 $ 150 Cross-currency interest rate swap contracts 885 46 — 885 — 29 Derivatives not designated as hedging instruments Interest rate contracts 70,318 663 439 52,018 316 183 Foreign currency exchange contracts 4,378 4 80 5,925 129 53 Cross-currency interest rate swap contracts 6,849 557 1 6,547 181 39 Total derivative financial instruments, gross (a) (b) $ 109,354 $ 2,601 $ 524 $ 91,382 $ 1,479 $ 454 __________ (a) At December 31, 2020 and September 30, 2021, we held collateral of $9 million, and we posted collateral of $96 million and $59 million, respectively.

Other Assets and Other Liabil_2

Other Assets and Other Liabilities and Deferred Income (Tables)	9 Months Ended
	Sep. 30, 2021
Other Assets and Other Liabilities and Deferred Income [Abstract]
Schedule of Other Assets and Other Liabilities [Table Text Block]	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, September 30, Accrued interest and other non-finance receivables (a) $ 837 $ 622 Prepaid reinsurance premiums and other reinsurance recoverables 708 737 Collateral held for resale, at net realizable value 675 286 Restricted cash 647 129 Property and equipment, net of accumulated depreciation (b) 219 220 Deferred charges - income taxes (a) 166 177 Investment in non-consolidated affiliates 132 147 Operating lease assets 98 78 Other 223 175 Total other assets (a) $ 3,705 $ 2,571 __________ (a) Prior period amounts have been updated as a result of our adoption of ASU 2019-12, Simplifying the Accounting for Income Taxes. See Note 2 for additional information. (b) Accumulated depreciation was $365 million and $310 million at December 31, 2020 and September 30, 2021, respectively. Other liabilities and deferred revenue were as follows (in millions): December 31, September 30, Unearned insurance premiums and fees $ 822 $ 853 Interest payable 857 605 Income tax and related interest (a) (b) 121 242 Operating lease liabilities 100 80 Deferred revenue 87 75 Other 293 265 Total other liabilities and deferred revenue (a) $ 2,280 $ 2,120 __________ (a) Prior period amounts have been updated as a result of our adoption of ASU 2019-12, Simplifying the Accounting for Income Taxes. See Note 2 for additional information. (b) Includes income tax and interest payable to affiliated companies of $16 million and $116 million at December 31, 2020 and September 30, 2021, respectively.

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2021
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, September 30, 2020 2021 2020 2021 Short-term debt Unsecured debt Floating rate demand notes $ 6,458 $ 8,643 Other short-term debt 3,940 4,010 Asset-backed debt (a) 1,031 403 Total short-term debt 11,429 13,056 1.5 % 1.3 % 1.6 % 1.3 % Long-term debt Unsecured debt Notes payable within one year 17,185 13,229 Notes payable after one year 54,197 47,396 Asset-backed debt (a) Notes payable within one year 21,345 19,187 Notes payable after one year 32,276 25,542 Unamortized (discount) / premium 30 30 Unamortized issuance costs (252) (227) Fair value adjustments (b) 1,467 743 Total long-term debt 126,248 105,900 2.7 % 2.6 % 2.7 % 2.6 % Total debt $ 137,677 $ 118,956 2.6 % 2.5 % 2.6 % 2.5 % Fair value of debt (c) $ 139,796 $ 121,369 __________ (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 are related to hedging activity and include discontinued hedging relationship adjustments of $299 million and $220 million at December 31, 2020 and September 30, 2021, respectively. The carrying value of hedged debt was $45.5 billion and $38.0 billion at December 31, 2020 and September 30, 2021, respectively.

Other Income, Net (Tables)

Other Income, Net (Tables)	9 Months Ended
	Sep. 30, 2021
Other Income and Expenses [Abstract]
Schedule of Other Income [Table Text Block]	The amounts included in Other income / (loss), net for the periods ended September 30 were as follows (in millions): Third Quarter First Nine Months 2020 2021 2020 2021 Gains / (Losses) on derivatives $ 93 $ (140) $ 176 $ (381) Currency revaluation gains / (losses) (90) 109 (259) 262 Interest and investment income 13 9 103 22 Other (6) 4 15 17 Total other income / (loss), net $ 10 $ (18) $ 35 $ (80)

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2021
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 September 30 was as follows (in millions): United States and Canada Europe All Other Total Unallocated Other (a) Total Third Quarter 2020 Total revenue $ 2,510 $ 245 $ 100 $ 2,855 $ — $ 2,855 Income before income taxes 932 73 14 1,019 104 1,123 Depreciation on vehicles subject to operating leases 549 (12) — 537 — 537 Interest expense 666 87 49 802 (10) 792 Provision for credit losses 79 1 6 86 — 86 Third Quarter 2021 Total revenue $ 2,129 $ 208 $ 136 $ 2,473 $ — $ 2,473 Income before income taxes 978 55 45 1,078 (1) 1,077 Depreciation on vehicles subject to operating leases 439 2 — 441 — 441 Interest expense 566 64 55 685 (17) 668 Provision for credit losses (67) 1 7 (59) — (59) First Nine Months 2020 Total revenue $ 7,589 $ 770 $ 321 $ 8,680 $ — $ 8,680 Income before income taxes 1,399 155 38 1,592 104 1,696 Depreciation on vehicles subject to operating leases 2,578 1 — 2,579 — 2,579 Interest expense 2,237 259 169 2,665 (50) 2,615 Provision for credit losses 675 68 22 765 — 765 Net finance receivables and net investment in operating leases (b) 114,266 22,023 4,329 140,618 (9,137) 131,481 Total assets (c) 122,995 25,720 4,859 153,574 — 153,574 First Nine Months 2021 Total revenue $ 6,808 $ 687 $ 336 $ 7,831 $ — $ 7,831 Income before income taxes 3,440 202 52 3,694 (32) 3,662 Depreciation on vehicles subject to operating leases 1,185 15 — 1,200 — 1,200 Interest expense 1,804 216 162 2,182 (30) 2,152 Provision for credit losses (284) (6) 25 (265) — (265) Net finance receivables and net investment in operating leases (b) 98,555 18,943 5,315 122,813 (6,350) 116,463 Total assets 108,917 21,163 5,988 136,068 — 136,068 __________ (a) Finance receivables, net and Net investment in operating leases includes unearned interest supplements and residual support, allowance for credit losses, and other (primarily accumulated supplemental depreciation). (b) Excludes held-for-sale finance receivables. (c) Amounts have been updated as a result of our adoption of ASU 2019-12, Simplifying the Accounting for Income Taxes. See Note 2 for additional information.

Accounting Policies (Details)

Accounting Policies (Details) - USD ($) $ in Millions	Jan. 01, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Jan. 01, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Provision for income taxes		$ 97			$ 82			$ 186	$ 185
Other assets		2,571						2,571		$ 3,705
Deferred Tax Liabilities, Gross		502						502		504
Other liabilities and deferred income		2,120						2,120		2,280
Accumulated other comprehensive income		(650)						(650)		(478)
Retained Earnings (Accumulated Deficit)		7,794						7,794		10,818
Net income		980	$ 1,651	$ 845	1,041	$ 476	$ (6)	3,476	1,511
Increase (Decrease) in Deferred Income Taxes								(15)	98
Increase (Decrease) in Other Operating Assets								558	(313)
Net change in other liabilities								(43)	(299)
Cash distributions to parent								(6,500)	(2,000)
Increase (Decrease) in Other Operating Assets and Liabilities, Net								119	118
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		(12,371)	(13,070)	(15,311)	(15,635)	(15,187)	(15,450)	$ (12,371)	(15,635)	(15,567)		$ (16,389)
Retained Earnings [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income		$ 980	$ 1,651	$ 845	1,041	$ 476	$ 6
Accounting Standards Update 2019-12
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Provision for income taxes					(182)				(224)
Other assets	$ (888)
Deferred Tax Liabilities, Gross	(2,403)
Other liabilities and deferred income	(26)
Accumulated other comprehensive income	(65)
Retained Earnings (Accumulated Deficit)	1,606
Net income	224				182				224
Increase (Decrease) in Deferred Income Taxes	(136)
Increase (Decrease) in Other Operating Assets	(922)
Net change in other liabilities	(94)
Cash distributions to parent	(875)
Increase (Decrease) in Other Operating Assets and Liabilities, Net	41
Accounting Standards Update 2019-12 | Retained Earnings [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	40
Accounting Standards Update 2016-13 [Member] | Retained Earnings [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest											$ 202
Accounting Standards Update 2019-12, 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest					242				242
Accounting Standards Update 2019-12, 2016-13 | Retained Earnings [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	242				242				242
Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Provision for income taxes					264				409
Other assets										4,593
Deferred Tax Liabilities, Gross	3,400									2,907
Other liabilities and deferred income										2,306
Accumulated other comprehensive income										(413)
Retained Earnings (Accumulated Deficit)										$ 9,212
Net income					$ 859				1,287
Increase (Decrease) in Deferred Income Taxes									234
Increase (Decrease) in Other Operating Assets									1,235
Net change in other liabilities									(205)
Cash distributions to parent									(1,125)
Deferred Tax Liabilities, Leasing Arrangements	2,800
Deferred Tax Assets, Gross	$ 1,000
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	9.70%									26.20%
Increase (Decrease) in Other Operating Assets and Liabilities, Net									$ (159)
Previously Reported | Foreign Tax Authority
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred Tax Assets, Gross	$ 700

Cash, Cash Equivalents, and M_2

Cash, Cash Equivalents, and Marketable Securities (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash, Cash Equivalents, and Short-term Investments	$ 9,799	$ 8,767
Total cash and cash equivalents	12,963	14,349
Restricted Cash	129	647
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	13,092	14,996	$ 11,252	$ 9,268
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash and cash equivalents	3,164	5,582
Fair Value, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities	2,046	4,860
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	1,715	3,255
Marketable securities	448	1,082
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	0	640
Marketable securities	175	485
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	454	717
Marketable securities	878	2,693
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	995	970
Marketable securities	291	308
Other Debt Obligations [Member] | Fair Value, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities	$ 254	$ 292

Finance Receivables Net (Detail

Finance Receivables Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Sales Type and Direct Financing Lease Revenue	$ 86	$ 96	$ 264	$ 268
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	91,988		91,988			$ 106,375
Financing Receivable, Allowance for Credit Loss	(984)	(1,314)	(984)	(1,314)	$ (1,061)	(1,305)	$ (1,285)	$ (513)
Finance leases, net	91,004		91,004			105,070
Uncollected interest receivable excluded from finance receivable	125		125			181
Disposal Group, Including Discontinued Operation, Assets	$ 27		$ 27			36
Financing Receivable, Threshold Period Past Due	31 days		31 days
Consumer Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	$ 72,943		$ 72,943			78,170
Financing Receivable, Allowance for Credit Loss	(947)	(1,251)	(947)	(1,251)	(1,022)	(1,245)	(1,211)	(496)
Non-Consumer Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	19,045		19,045			28,205
Financing Receivable, Allowance for Credit Loss	(37)	$ (63)	(37)	$ (63)	$ (39)	(60)	$ (74)	$ (17)
Retail Installment Loans [Member] | Consumer Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	68,385		68,385			73,726
Retail [Member] | Consumer Segment [Member]
Net Finance Receivables [Abstract]
Unearned interest supplements from Ford and affiliated companies	(3,086)		(3,086)			(3,987)
Financing Receivable, before Allowance for Credit Loss	72,943		72,943			78,170
Finance Receivable Before Unearned Interest Supplements	76,029		76,029			82,157
Finance leases [Member]
Net Finance Receivables [Abstract]
Finance leases, net	7,299		7,299			8,027
Finance leases [Member] | Consumer Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	7,644		7,644			8,431
Wholesale and Dealer Loans [Member] | Non-Consumer Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	17,424		17,424			26,517
Other Finance Receivables [Member] | Non-Consumer Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	1,621		1,621			1,688
Retail Installment loans, dealer financing, and other financing [Member]
Net Finance Receivables [Abstract]
Finance leases, net	83,705		83,705			97,043
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Net Finance Receivables [Abstract]
Finance leases, net	83,705		83,705			97,043
Fair value (b)	$ 85,085		$ 85,085			$ 98,630

Finance Receivables - Credit Qu

Finance Receivables - Credit Quality and Impaired Receivables (Details) - USD ($)	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Non-Accrual of Revenue	90
Financing Receivables	$ 91,988,000,000	$ 106,375,000,000
Wholesale and Dealer Loans [Member] | Financing Receivable [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	64,000,000	99,000,000
Commercial Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	19,045,000,000	28,205,000,000
Financing Receivable, Revolving	16,114,000,000	24,996,000,000
Commercial Portfolio Segment [Member] | Group I
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	13,643,000,000	20,017,000,000
Financing Receivable, Revolving	12,498,000,000	18,769,000,000
Commercial Portfolio Segment [Member] | Group I | Percent of Total
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	0.783	0.755
Commercial Portfolio Segment [Member] | Group II
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	3,008,000,000	4,874,000,000
Financing Receivable, Revolving	2,888,000,000	4,680,000,000
Commercial Portfolio Segment [Member] | Group II | Percent of Total
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	0.173	0.184
Commercial Portfolio Segment [Member] | Group III
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	712,000,000	1,533,000,000
Financing Receivable, Revolving	676,000,000	1,464,000,000
Commercial Portfolio Segment [Member] | Group III | Percent of Total
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	0.041	0.058
Commercial Portfolio Segment [Member] | Group IV
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	61,000,000	93,000,000
Financing Receivable, Revolving	52,000,000	83,000,000
Commercial Portfolio Segment [Member] | Group IV | Percent of Total
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	0.003	0.003
Commercial Portfolio Segment [Member] | Dealer Loan
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	486,000,000	552,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	96,000,000	149,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	203,000,000	124,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	48,000,000	242,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	118,000,000	78,000,000
Financing Receivable, Originated in Current Fiscal Year	359,000,000	376,000,000
Financing Receivable Originations Total	1,310,000,000	1,521,000,000
Commercial Portfolio Segment [Member] | Dealer Loan | Group I
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	464,000,000	503,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	91,000,000	129,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	173,000,000	110,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	46,000,000	188,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	111,000,000	70,000,000
Financing Receivable, Originated in Current Fiscal Year	260,000,000	248,000,000
Financing Receivable Originations Total	1,145,000,000	1,248,000,000
Commercial Portfolio Segment [Member] | Dealer Loan | Group II
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	12,000,000	38,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	5,000,000	20,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	25,000,000	11,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	2,000,000	35,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	6,000,000	3,000,000
Financing Receivable, Originated in Current Fiscal Year	70,000,000	87,000,000
Financing Receivable Originations Total	120,000,000	194,000,000
Commercial Portfolio Segment [Member] | Dealer Loan | Group III
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	10,000,000	9,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	0	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	1,000,000	3,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	0	19,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	1,000,000	3,000,000
Financing Receivable, Originated in Current Fiscal Year	24,000,000	35,000,000
Financing Receivable Originations Total	36,000,000	69,000,000
Commercial Portfolio Segment [Member] | Dealer Loan | Group IV
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0	2,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	0	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	4,000,000	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0	2,000,000
Financing Receivable, Originated in Current Fiscal Year	5,000,000	6,000,000
Financing Receivable Originations Total	9,000,000	10,000,000
Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	17,424,000,000	26,517,000,000
Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | Percent of Total
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	1	1
Commercial Portfolio Segment [Member] | Wholesale and Dealer Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	17,424,000,000	26,517,000,000
Consumer Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	72,943,000,000	78,170,000,000
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	1,258,000,000	845,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	3,525,000,000	2,599,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	8,237,000,000	6,790,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	14,718,000,000	13,939,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	25,569,000,000	21,074,000,000
Financing Receivable, Originated in Current Fiscal Year	19,636,000,000	32,923,000,000
Consumer Portfolio Segment [Member] | Financing Receivables, 31-60 Days Past Due [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	513,000,000	681,000,000
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	44,000,000	45,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	54,000,000	62,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	94,000,000	103,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	114,000,000	162,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	157,000,000	166,000,000
Financing Receivable, Originated in Current Fiscal Year	50,000,000	143,000,000
Consumer Portfolio Segment [Member] | Financing Receivables, 61-120 Days past due [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	116,000,000	163,000,000
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	7,000,000	7,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	12,000,000	12,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	21,000,000	24,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	28,000,000	44,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	34,000,000	45,000,000
Financing Receivable, Originated in Current Fiscal Year	14,000,000	31,000,000
Consumer Portfolio Segment [Member] | Financing Receivables, Greater Than 120 Days Past Due [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	46,000,000	41,000,000
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	12,000,000	11,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	7,000,000	6,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	8,000,000	7,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	10,000,000	8,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	9,000,000	7,000,000
Financing Receivable, Originated in Current Fiscal Year	0	2,000,000
Consumer Portfolio Segment [Member] | Total past due [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	675,000,000	885,000,000
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	63,000,000	63,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	73,000,000	80,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	123,000,000	134,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	152,000,000	214,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	200,000,000	218,000,000
Financing Receivable, Originated in Current Fiscal Year	64,000,000	176,000,000
Consumer Portfolio Segment [Member] | Financial Asset, 1 to 29 Days Past Due [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	72,268,000,000	77,285,000,000
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	1,195,000,000	782,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	3,452,000,000	2,519,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	8,114,000,000	6,656,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	14,566,000,000	13,725,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	25,369,000,000	20,856,000,000
Financing Receivable, Originated in Current Fiscal Year	19,572,000,000	32,747,000,000
Consumer Portfolio Segment [Member] | Percent of Total
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	1	1
Consumer Portfolio Segment [Member] | Percent of Total | Financing Receivables, 31-60 Days Past Due [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	0.007	0.009
Consumer Portfolio Segment [Member] | Percent of Total | Financing Receivables, 61-120 Days past due [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	0.002	0.002
Consumer Portfolio Segment [Member] | Percent of Total | Financing Receivables, Greater Than 120 Days Past Due [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	0	0
Consumer Portfolio Segment [Member] | Percent of Total | Total past due [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	0.009	0.011
Consumer Portfolio Segment [Member] | Percent of Total | Financial Asset, 1 to 29 Days Past Due [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	$ 0.991	$ 0.989
Consumer Portfolio Segment [Member] | Pass [Member] | Maximum [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Finance Receivables Credit Quality Ratings Term Range	60 days
Consumer Portfolio Segment [Member] | Substandard [Member] | Minimum [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Finance Receivables Credit Quality Ratings Term Range	120 days
Consumer Portfolio Segment [Member] | Special Mention [Member] | Maximum [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Finance Receivables Credit Quality Ratings Term Range	120 days
Consumer Portfolio Segment [Member] | Special Mention [Member] | Minimum [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Finance Receivables Credit Quality Ratings Term Range	61 days

Finance Receivables and Allowan

Finance Receivables and Allowance for Credit Losses Allowance for credit losses (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Jan. 01, 2020	Dec. 31, 2019
Allowance for Credit Losses [Line Items]
Financing Receivable, Allowance for Credit Loss	$ 984	$ 1,314	$ 984	$ 1,314	$ 1,061	$ 1,305	$ 1,285		$ 513
Finance receivables, net	91,004		91,004			105,070
Financing Receivable, Allowance for Credit Loss, Writeoff	(60)	(109)	(215)	(335)
Financing Receivable, Allowance for Credit Loss, Recovery	51	43	164	122
Provision for Loan, Lease, and Other Losses	(59)	86	(265)	765
Financing Receivable, Allowance for Credit Losses, Other	(9)	9	(5)	(3)
Financing Receivable, before Allowance for Credit Loss	91,988		91,988			106,375
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease)	77		321
Commercial Portfolio Segment [Member]
Allowance for Credit Losses [Line Items]
Financing Receivable, Allowance for Credit Loss	37	63	37	63	39	60	74		17
Financing Receivable, Allowance for Credit Loss, Writeoff	(2)	(5)	(5)	(6)
Financing Receivable, Allowance for Credit Loss, Recovery	1	2	6	5
Provision for Loan, Lease, and Other Losses	(1)	(9)	(23)	42
Financing Receivable, Allowance for Credit Losses, Other	0	1	(1)	0
Financing Receivable, before Allowance for Credit Loss	19,045		19,045			28,205
Consumer Portfolio Segment [Member]
Allowance for Credit Losses [Line Items]
Financing Receivable, Allowance for Credit Loss	947	1,251	947	1,251	$ 1,022	1,245	$ 1,211		$ 496
Financing Receivable, Allowance for Credit Loss, Writeoff	(58)	(104)	(210)	(329)
Financing Receivable, Allowance for Credit Loss, Recovery	50	41	158	117
Provision for Loan, Lease, and Other Losses	(58)	95	(242)	723
Financing Receivable, Allowance for Credit Losses, Other	(9)	8	(4)	(3)
Financing Receivable, before Allowance for Credit Loss	72,943		72,943			78,170
Accounting Standards Update 2016-13 [Member]
Allowance for Credit Losses [Line Items]
Finance receivables, net		0		0				$ 252
Accounting Standards Update 2016-13 [Member] | Commercial Portfolio Segment [Member]
Allowance for Credit Losses [Line Items]
Finance receivables, net		0		0				5
Accounting Standards Update 2016-13 [Member] | Consumer Portfolio Segment [Member]
Allowance for Credit Losses [Line Items]
Finance receivables, net		$ 0		$ 0				$ 247
Retail Installment loans, dealer financing, and other financing [Member]
Allowance for Credit Losses [Line Items]
Finance receivables, net	$ 83,705		$ 83,705			$ 97,043

Net Investments in Operating _2

Net Investments in Operating Leases (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 310	$ 365
Net Investment in Operating Leases	$ 25,459	26,655
Maximum [Member]
Net Investment in Operating Leases, Length of Lease	60 months
Property Subject to Operating Lease [Member]
Property Subject to or Available for Operating Lease, Gross	$ 30,467	32,495
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	5,008	5,840
Net Investment in Operating Leases	$ 25,459	$ 26,655

Transfers of Receivables - Asse

Transfers of Receivables - Assets and Liabilities of Securitizations (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Securitization Transactions [Line Items]
Cash and cash equivalents	$ 12,963	$ 14,349
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	116,463		$ 131,481
Related Debt	118,956	137,677
Total assets	136,068	158,129	$ 153,574
Adjusted Pool Balance		2,300
Required pool balance	12,300	14,100
Consolidated Entities [Member] | Securitization Transactions [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	6,000	3,200
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	58,400	72,900
Allowance for Credit Losses	400	500
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	58,000	72,400
Related Debt	45,100	54,600
Consolidated Entities [Member] | Securitization Transactions [Member] | Financing Receivable [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	5,500	2,600
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	49,600	60,100
Allowance for Credit Losses	400	500
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	49,200	59,600
Related Debt	39,500	46,900
Consolidated Entities [Member] | Securitization Transactions [Member] | Retail [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	2,100	2,400
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	37,300	43,700
Allowance for Credit Losses	400	500
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	36,900	43,200
Related Debt	29,700	36,000
Consolidated Entities [Member] | Securitization Transactions [Member] | Wholesale [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	3,400	200
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	12,300	16,400
Allowance for Credit Losses	0	0
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	12,300	16,400
Related Debt	9,800	10,900
Consolidated Entities [Member] | Securitization Transactions [Member] | Net Investment in Operating Leases [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	500	600
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	8,800	12,800
Allowance for Credit Losses	0	0
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	8,800	12,800
Related Debt	5,600	7,700
Variable Interest Entity, Primary Beneficiary [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	5,657	2,822
Related Debt	39,576	46,770
Variable Interest Entity, Primary Beneficiary [Member] | Securitization Transactions [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	5,700	2,800
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	52,300	64,700
Allowance for Credit Losses	300	400
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	52,000	64,300
Related Debt	39,600	46,800
Variable Interest Entity, Primary Beneficiary [Member] | Securitization Transactions [Member] | Financing Receivable [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	5,200	2,200
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	43,500	51,900
Allowance for Credit Losses	300	400
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	43,200	51,500
Related Debt	34,000	39,100
Variable Interest Entity, Primary Beneficiary [Member] | Securitization Transactions [Member] | Retail [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	1,800	2,000
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	31,500	35,800
Allowance for Credit Losses	300	400
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	31,200	35,400
Related Debt	24,400	28,400
Variable Interest Entity, Primary Beneficiary [Member] | Securitization Transactions [Member] | Wholesale [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	3,400	200
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	12,000	16,100
Allowance for Credit Losses	0	0
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	12,000	16,100
Related Debt	9,600	10,700
Variable Interest Entity, Primary Beneficiary [Member] | Securitization Transactions [Member] | Net Investment in Operating Leases [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	500	600
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	8,800	12,800
Allowance for Credit Losses	0	0
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	8,800	12,800
Related Debt	5,600	7,700
Consolidated Entity Excluding Variable Interest Entities (VIE) [Member] | Securitization Transactions [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	300	400
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	6,100	8,200
Allowance for Credit Losses	100	100
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	6,000	8,100
Related Debt	5,500	7,800
Consolidated Entity Excluding Variable Interest Entities (VIE) [Member] | Securitization Transactions [Member] | Financing Receivable [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	300	400
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	6,100	8,200
Allowance for Credit Losses	100	100
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	6,000	8,100
Related Debt	5,500	7,800
Consolidated Entity Excluding Variable Interest Entities (VIE) [Member] | Securitization Transactions [Member] | Retail [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	300	400
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	5,800	7,900
Allowance for Credit Losses	100	100
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	5,700	7,800
Related Debt	5,300	7,600
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	300	300
Allowance for Credit Losses	0	0
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	300	300
Related Debt	200	200
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

Derivative Financial Instrume_3

Derivative Financial Instruments and Hedging Activities (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Derivative [Line Items]
Debt Carrying Value Fair Value	$ 38,000		$ 38,000		$ 45,500
Income Effect of Derivative Financial Instruments [Abstract]
Derivative, Gain (Loss) on Derivative, Net	(29)	$ 182	(86)	$ 392
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Fair Value of Derivative Assets	1,479		1,479		2,601
Fair Value of Derivative Liabilities	454		454		524
Derivative, Notional Amount	91,382		91,382		109,354
Derivative, Collateral, Obligation to Return Cash	9		9		9
Derivative, Collateral, Right to Reclaim Cash	59		59		96
Derivative Asset, Not Offset, Policy Election Deduction	358		358		204
Derivative Liability, Not Offset, Policy Election Deduction	358		358		204
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	98	94	299	190
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	(142)	(103)	(680)	1,119
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	135	96	638	(1,095)
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Derivative, Notional Amount	26,007		26,007		26,924
Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Currency Swap
Income Effect of Derivative Financial Instruments [Abstract]
Net interest settlements and accruals excluded from the assessment of hedge effectiveness	(2)	(1)	(6)	(1)
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	(28)	(10)	(67)	(10)
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	25	6	58	6
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Derivative, Notional Amount	885		885		885
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	853		853		1,331
Fair Value of Derivative Liabilities	150		150		4
Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Level 2 [Member] | Fair Value, Recurring [Member] | Currency Swap
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Fair Value of Derivative Assets	0		0		46
Fair Value of Derivative Liabilities	29		29		0
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member]
Income Effect of Derivative Financial Instruments [Abstract]
Derivative, Gain (Loss) on Derivative, Net	0	(4)	(25)	(90)
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Derivative, Notional Amount	52,018		52,018		70,318
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	316		316		663
Fair Value of Derivative Liabilities	183		183		439
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]
Income Effect of Derivative Financial Instruments [Abstract]
Derivative, Gain (Loss) on Derivative, Net	79	(106)	87	60
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Derivative, Notional Amount	5,925		5,925		4,378
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	129		129		4
Fair Value of Derivative Liabilities	53		53		80
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	(194)	$ 210	(390)	$ 213
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Derivative, Notional Amount	6,547		6,547		6,849
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	181		181		557
Fair Value of Derivative Liabilities	$ 39		$ 39		$ 1

Other Assets and Other Liabil_3

Other Assets and Other Liabilities and Deferred Income (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Other Assets and Other Liabilities [Abstract]
Accrued interest and other non-finance receivables	$ 622	$ 837
Collateral held for resale, at net realizable value, and other inventory	286	675
Prepaid Reinsurance Premiums and Other Reinsurance Recoverables	737	708
Deferred charges - income taxes	177	166
Property and equipment, net of accumulated depreciation	220	219
Operating lease assets	78	98
Investment in non-consolidated affiliates	147	132
Other	175	223
Other assets	2,571	3,705
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	310	365
Unearned Premiums and Fees	853	822
Interest Payable	605	857
Taxes Payable	242	121
Deferred Revenue	75	87
Operating Lease, Liability	80	100
Other Liabilities	2,120	2,280
Related Party Transactions Income Taxes and Related Interest Payable	116	16
Other Liabilities, Miscellaneous	265	293
Restricted Cash	129	647
Property Subject to Operating Lease [Member]
Other Assets and Other Liabilities [Abstract]
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 5,008	$ 5,840

Debt (Details)

Debt (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total short-term debt	$ 13,056	$ 11,429
Unamortized discount	30	30
Unamortized debt issuance costs	(227)	(252)
Fair value adjustments	743	1,467
Total long-term debt	105,900	126,248
Total debt	$ 118,956	$ 137,677
Average Contractual (interest rate)	2.50%	2.60%
Average Effective (interest rate)	2.50%	2.60%
Debt Carrying Value Fair Value	$ 38,000	$ 45,500
Fair value of short-term debt	12,700	10,400
Discontinued Hedged Debt	220	299
Floating Rate Demand Notes [Member]
Debt Instrument [Line Items]
Total short-term debt	8,643	6,458
Other short-term debt [Member]
Debt Instrument [Line Items]
Total short-term debt	4,010	3,940
Asset-backed Securities [Member]
Debt Instrument [Line Items]
Total short-term debt	403	1,031
Notes payable within one year	19,187	21,345
Notes payable after one year	$ 25,542	$ 32,276
Total short-term debt [Member]
Debt Instrument [Line Items]
Average Contractual (interest rate)	1.30%	1.50%
Average Effective (interest rate)	1.30%	1.60%
Unsecured Debt [Member]
Debt Instrument [Line Items]
Notes payable within one year	$ 13,229	$ 17,185
Notes payable after one year	$ 47,396	$ 54,197
Total long-term debt [Member]
Debt Instrument [Line Items]
Average Contractual (interest rate)	2.60%	2.70%
Average Effective (interest rate)	2.60%	2.70%
Fair Value, Nonrecurring [Member] | Level 2 [Member]
Debt Instrument [Line Items]
Fair value of debt	$ 121,369	$ 139,796

Restructuring and Related Act_2

Restructuring and Related Activities (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Disposal Group, Including Discontinued Operation, Assets	$ 27	$ 36
Foreign Currency Translation Adjustment
Restructuring Cost and Reserve [Line Items]
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	439
Employee Separation Costs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	11
Discontinued Operations, Held-for-sale
Restructuring Cost and Reserve [Line Items]
Disposal Group, Including Discontinued Operation, Assets	$ 27

Other Income, Net (Details)

Other Income, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Other Income and Expenses [Abstract]
Gains/(Losses) on derivatives	$ (140)	$ 93	$ (381)	$ 176
Currency revaluation gains/(losses)	109	(90)	262	(259)
Interest and investment income	9	13	22	103
Other	4	(6)	17	15
Other income, net	$ (18)	$ 10	$ (80)	$ 35

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Total revenue	$ 2,473	$ 2,855	$ 7,831	$ 8,680
Income before income taxes	1,077	1,123	3,662	1,696
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	441	537	1,200	2,579
Interest expense	668	792	2,152	2,615
Provision for credit losses	(59)	86	(265)	765
Net finance receivables and net investment in operating leases	116,463	131,481	116,463	131,481
Total assets	136,068	153,574	136,068	153,574	$ 158,129
Reportable segments
Segment Reporting Information [Line Items]
Total revenue	2,473	2,855	7,831	8,680
Income before income taxes	1,078	1,019	3,694	1,592
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	441	537	1,200	2,579
Interest expense	685	802	2,182	2,665
Provision for credit losses	(59)	86	(265)	765
Net finance receivables and net investment in operating leases	122,813	140,618	122,813	140,618
Total assets	136,068	153,574	136,068	153,574
Reportable segments | United States and Canada
Segment Reporting Information [Line Items]
Total revenue	2,129	2,510	6,808	7,589
Income before income taxes	978	932	3,440	1,399
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	439	549	1,185	2,578
Interest expense	566	666	1,804	2,237
Provision for credit losses	(67)	79	(284)	675
Net finance receivables and net investment in operating leases	98,555	114,266	98,555	114,266
Total assets	108,917	122,995	108,917	122,995
Reportable segments | Europe
Segment Reporting Information [Line Items]
Total revenue	208	245	687	770
Income before income taxes	55	73	202	155
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	2	(12)	15	1
Interest expense	64	87	216	259
Provision for credit losses	1	1	(6)	68
Net finance receivables and net investment in operating leases	18,943	22,023	18,943	22,023
Total assets	21,163	25,720	21,163	25,720
Reportable segments | All Other
Segment Reporting Information [Line Items]
Total revenue	136	100	336	321
Income before income taxes	45	14	52	38
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	0	0	0	0
Interest expense	55	49	162	169
Provision for credit losses	7	6	25	22
Net finance receivables and net investment in operating leases	5,315	4,329	5,315	4,329
Total assets	5,988	4,859	5,988	4,859
Unallocated other
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Income before income taxes	(1)	104	(32)	104
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	0	0	0	0
Interest expense	(17)	(10)	(30)	(50)
Provision for credit losses	0	0	0	0
Net finance receivables and net investment in operating leases	(6,350)	(9,137)	(6,350)	(9,137)
Total assets	$ 0	$ 0	$ 0	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) € in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2021EUR (€)	Dec. 31, 2020USD ($)
Guarantor Obligations [Line Items]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Commitments and contingencies primarily consist of guarantees and indemnifications as well as litigation and claims. 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 $153 million and $109 million at December 31, 2020 and September 30, 2021, respectively. Of these values, $62 million and $25 million at December 31, 2020 and September 30, 2021, respectively, were counter-guaranteed by Ford to us. There were no recorded liabilities related to guarantees and limited indemnities at December 31, 2020 or September 30, 2021. 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 the failure of the third party to fulfill its obligation covered by the guarantee. In some circumstances, we are entitled to recover from a third party amounts paid by us under the guarantee. However, our ability to enforce these rights is sometimes stayed until the guaranteed party is paid in full and may be limited in the event of insolvency of the third party or other circumstances. In the ordinary course of business, we execute contracts involving indemnifications standard in the industry and indemnifications specific to a transaction. 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 the contract brought by a counterparty 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 13. 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 received a decision from the Italian Competition Authority (“ICA”), which included an assessment of a fine against FCE in the amount of €42 million (equivalent to $48 million at September 30, 2021). On March 8, 2019, FCE appealed the decision and the fine to the Italian administrative court, and on November 24, 2020, the Italian administrative court ruled in favor of FCE. On December 23, 2020, the ICA filed an appeal of the Italian administrative court’s decision to the Italian Council of State. While we have determined that an adverse outcome is not probable, the reasonably possible loss could be up to the fine amount.
Financial Guarantee [Member]
Guarantor Obligations [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 109,000		$ 153,000
Counter Guarantee [Member] | Ford Motor Company [Member]
Guarantor Obligations [Line Items]
Counter guarantee	25,000		$ 62,000
Euro Member Countries, Euro
Guarantor Obligations [Line Items]
Loss Contingency, Estimate of Possible Loss | €		€ 42,000
United States of America, Dollars
Guarantor Obligations [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 48,000