Ford Motor Credit (FCZ) 10-Q 2 May 23 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document	3 Months Ended
	Mar. 31, 2023 shares
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	2023
Document Fiscal Period Focus	Q1
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	Mar. 31, 2023
F/26A
Trading Symbol	F/26A
Security Exchange Name	NYSE
Title of 12(b) Security	6.860% Notes due June 5, 2026*
F/27A
Trading Symbol	F/27A
Security Exchange Name	NYSE
Title of 12(b) Security	4.867% Notes due August 3, 2027*
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/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/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
	Mar. 31, 2023	Mar. 31, 2022
Financing revenue
Retail financing	$ 929	$ 906
Dealer financing	504	164
Other	27	7
Revenue from Contract with Customer, Excluding Assessed Tax	2,509	2,288
Depreciation on vehicles subject to operating leases	(559)	(515)
Interest expense	(1,392)	(611)
Net financing margin	558	1,162
Other revenue
Premiums Earned, Net	26	15
Fee based revenue and other	21	23
Total financing margin and other revenue	605	1,200
Operating expenses	320	348
Financing Receivable, Credit Loss, Expense (Reversal)	77	(64)
Insurance expenses	5	(7)
Total expenses	402	277
Other Income / Loss	100	(169)
Income before income taxes	303	754
Provision for income taxes	63	85
Net income	240	669
Operating Lease, Lease Income	$ 1,049	$ 1,211

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net income	$ 240	$ 669
Other comprehensive income/(loss), net of tax
Comprehensive income / (loss)	328	821
Parent [Member]
Other comprehensive income/(loss), net of tax
Foreign currency translation	88	(43)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax	$ 0	$ 195

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents	$ 9,315	$ 10,393
Marketable securities	1,575	1,493
Net Investment in Operating Leases	21,057	21,821
Finance receivables, net	102,770	100,513
Derivative financial instruments	817	987
Other assets	2,589	2,576
Total assets	138,932	138,576
Liabilities
Accounts Payable And Due To Affiliated Entities	1,723	1,678
Accounts Payable, Trade	1,036	1,097
Debt	119,580	119,039
Deferred income taxes	909	921
Derivative financial instruments	2,436	3,026
Other liabilities and deferred income	2,079	2,035
Total liabilities	126,727	126,699
Shareholder's Interest [Member]	5,166	5,166
SHAREHOLDER’S INTEREST	0	0
Shareholder's interest
Accumulated other comprehensive income	(929)	(1,017)
Retained earnings	7,968	7,728
Stockholders' Equity Attributable to Parent	12,205	11,877
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	12,205	11,877
Total liabilities and shareholder's interest	138,932	138,576
Affiliated Entity
ASSETS
Accounts and Financing Receivable, after Allowance for Credit Loss	809	793
Liabilities
Accounts Payable	687	581
Variable Interest Entity, Primary Beneficiary [Member]
ASSETS
Cash and cash equivalents	2,438	2,274
Net Investment in Operating Leases	9,472	12,545
Finance receivables, net	50,454	49,142
Derivative financial instruments	162	264
Liabilities
Debt	45,758	45,451
Derivative financial instruments	3	2
Retail Installment loans, dealer financing, and other financing [Member]
ASSETS
Finance receivables, net	96,148	94,090
Loans and Finance Receivables [Member]
ASSETS
Finance receivables, net	6,622	6,423
Property Subject to Operating Lease [Member]
ASSETS
Net Investment in Operating Leases	$ 21,057	$ 21,821

Consolidated Balance Sheet (par

Consolidated Balance Sheet (parenthetical) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Financing Receivable, Allowance for Credit Loss	$ (870)	$ (845)	$ (845)	$ (925)

Consolidated Statement of Share

Consolidated Statement of Shareholder's Interest - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2021
Shareholder's Interest [Roll Forward]
Balance at beginning of period	$ 11,877
Net income	240	$ 669
Other Comprehensive Income (Loss), Net of Tax	88	152
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance	11,877	12,398
Distributions declared	0	(1,000)
Stockholders' Equity, Other		(83)
Balance at end of period	12,205
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	12,205	12,136
SHAREHOLDER’S INTEREST	0
Shareholder's Interest [Member]
Shareholder's Interest [Roll Forward]
Balance at beginning of period	5,166	5,227
Net income	0	0
Other Comprehensive Income (Loss), Net of Tax	0	0
Distributions declared	0	0
Stockholders' Equity, Other		(61)
Balance at end of period	5,166	5,166
Accumulated Other Comprehensive Income/(Loss) (Note11) [Member]
Shareholder's Interest [Roll Forward]
Balance at beginning of period	(1,017)	(690)
Net income	0	0
Other Comprehensive Income (Loss), Net of Tax	88	152
Distributions declared	0	0
Stockholders' Equity, Other		0
Balance at end of period	(929)	(538)
Retained Earnings [Member]
Shareholder's Interest [Roll Forward]
Balance at beginning of period	7,728	7,839
Other Comprehensive Income (Loss), Net of Tax	0	0
Distributions declared	0	(1,000)
Stockholders' Equity, Other		0
Balance at end of period	7,968	7,508
Noncontrolling Interest
Shareholder's Interest [Roll Forward]
Net income	0	0
Other Comprehensive Income (Loss), Net of Tax	0	0
Distributions declared	0	0
Stockholders' Equity, Other		(22)
SHAREHOLDER’S INTEREST	0	0	$ 22
Parent [Member]
Shareholder's Interest [Roll Forward]
Net income	240	669
Other Comprehensive Income (Loss), Net of Tax	88	152
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance		12,376
Distributions declared	0	(1,000)
Stockholders' Equity, Other		(61)
Balance at end of period	$ 12,205
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance		$ 12,136

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities
Net Income	$ 240	$ 669
Financing Receivable, Credit Loss, Expense (Reversal)	77	(64)
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Depreciation Depletion and Amortizations	701	682
Amortization Of Upfront Interest Supplements	(407)	(508)
Net change in deferred income taxes	(3)	37
Net change in other assets	(38)	(24)
Net change in other liabilities	60	418
All other operating activities	(76)	152
Net Cash Provided by (Used in) Operating Activities	554	1,362
Cash flows from investing activities
Purchases of finance receivables	(9,899)	(7,891)
Principal collections of finance receivables	9,025	9,615
Purchases of operating lease vehicles	(1,990)	(2,041)
Proceeds From Liquidations of Operating Lease Vehicles	2,226	2,469
Net change in wholesale receivables and other	(661)	(2,224)
Purchases of marketable securities	(973)	(909)
Proceeds from sales and maturities of marketable securities	917	1,007
Settlements of derivatives	31	148
All other investing activities	(17)	(39)
Net Cash Provided by (Used in) Investing Activities	(1,341)	135
Cash flows from financing activities
Proceeds from issuances of long-term debt	13,912	12,489
Principal payments on long-term debt	(12,228)	(12,705)
Change in short-term debt, net	(1,966)	(608)
Cash distributions to parent	0	(1,000)
All other financing activities	(53)	(32)
Net Cash Provided by (Used in) Financing Activities	(335)	(1,856)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	50	(34)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at January 1	10,520	11,091
Net increase/(decrease) in cash, cash equivalents, and restricted cash	(1,072)	(393)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at March 31	$ 9,448	$ 10,698

Presentation

Presentation	3 Months Ended
	Mar. 31, 2023
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 periods presented 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, 2022 (“2022 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	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Accounting Policies	ACCOUNTING POLICIES Adoption of New Accounting Standards Accounting Standards Update (“ASU”) 2022-02, Financial Instruments – Credit Losses, Troubled Debt Restructurings and Vintage Disclosures. Effective January 1, 2023, we adopted the new standard, which eliminates the troubled debt recognition and measurement guidance and requires disclosure of current-period gross charge-offs by year of origination (vintage disclosure). Adoption of the new standard did not have a material impact to our consolidated financial statements or financial statement disclosures. We also adopted the following ASUs during 2023, none of which had a material impact to our consolidated financial statements or financial statement disclosures: ASU Effective Date 2022-01 Derivatives and Hedging – Fair Value Hedging – Portfolio Layer Method January 1, 2023 2022-03 Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions January 1, 2023 2018-12 Targeted Improvements to the Accounting for Long Duration Contracts (and related amendments) January 1, 2023 Accounting Standards Issued But Not Yet Adopted ASUs issued but not yet adopted were assessed and determined to be not applicable or are not expected to have a material impact on our consolidated financial statements or financial statement disclosures. 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	3 Months Ended
	Mar. 31, 2023
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, March 31, Cash and cash equivalents United States government 1 $ 1,045 $ 1,183 United States government agencies 2 150 1,045 Non-United States government and agencies 2 199 70 Corporate debt 2 792 439 Total marketable securities classified as cash equivalents 2,186 2,737 Cash, time deposits, and money market funds 8,207 6,578 Total cash and cash equivalents $ 10,393 $ 9,315 Marketable securities United States government 1 $ 187 $ 173 United States government agencies 2 221 270 Non-United States government and agencies 2 658 548 Corporate debt 2 266 421 Other marketable securities 2 161 163 Total marketable securities $ 1,493 $ 1,575 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, March 31, Cash and cash equivalents $ 10,393 $ 9,315 Restricted cash (a) 127 133 Total cash, cash equivalents, and restricted cash $ 10,520 $ 9,448 __________ (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	3 Months Ended
	Mar. 31, 2023
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. NOTE 4. FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES ( Continued ) Total Finance Receivables, Net Total finance receivables, net were as follows (in millions): December 31, March 31, Consumer Retail installment contracts, gross $ 67,043 $ 68,355 Finance leases, gross 6,765 6,990 Retail financing, gross 73,808 75,345 Unearned interest supplements from Ford and affiliated companies (2,305) (2,435) Consumer finance receivables 71,503 72,910 Non-Consumer Dealer financing 28,408 29,174 Other financing 1,447 1,556 Non-Consumer finance receivables 29,855 30,730 Total recorded investment $ 101,358 $ 103,640 Recorded investment in finance receivables $ 101,358 $ 103,640 Allowance for credit losses (845) (870) Total finance receivables, net $ 100,513 $ 102,770 Net finance receivables subject to fair value (a) $ 94,090 $ 96,148 Fair value (b) 91,410 94,303 __________ (a) Net finance receivables subject to fair value exclude finance leases. (b) The fair value of finance receivables is categorized within Level 3 of the fair value hierarchy. Finance leases are comprised of sales-type and direct financing leases. Financing revenue from finance leases for the first quarter of 2022 and 2023 was $77 million and $83 million, respectively, and is included in Retail financing on our consolidated income statements. At December 31, 2022 and March 31, 2023, accrued interest was $187 million and $199 million, respectively, which we report in Other assets on our 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. NOTE 4. FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES ( Continued ) The credit quality analysis of consumer receivables at December 31, 2022 was as follows (in millions): Amortized Cost Basis by Origination Year Prior to 2018 2018 2019 2020 2021 2022 Total Percent Consumer 31-60 days past due $ 41 $ 60 $ 91 $ 181 $ 150 $ 126 $ 649 0.9 % 61-120 days past due 9 12 20 39 40 29 149 0.2 Greater than 120 days past due 9 4 5 7 7 6 38 0.1 Total past due 59 76 116 227 197 161 836 1.2 Current 883 2,564 6,149 13,864 18,382 28,825 70,667 98.8 Total $ 942 $ 2,640 $ 6,265 $ 14,091 $ 18,579 $ 28,986 $ 71,503 100.0 % The credit quality analysis of consumer receivables at March 31, 2023 was as follows (in millions): Amortized Cost Basis by Origination Year Prior to 2019 2019 2020 2021 2022 2023 Total Percent Consumer 31-60 days past due $ 75 $ 72 $ 149 $ 135 $ 150 $ 10 $ 591 0.8 % 61-120 days past due 11 13 28 30 36 1 119 0.2 Greater than 120 days past due 12 4 8 10 6 — 40 — Total past due 98 89 185 175 192 11 750 1.0 Current 2,575 5,075 12,202 16,567 26,953 8,788 72,160 99.0 Total $ 2,673 $ 5,164 $ 12,387 $ 16,742 $ 27,145 $ 8,799 $ 72,910 100.0 % Gross charge-offs $ 17 $ 12 $ 23 $ 22 $ 22 $ — $ 96 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, 2022 was as follows (in millions): Amortized Cost Basis by Origination Year Dealer Loans Prior to 2018 2018 2019 2020 2021 2022 Total Wholesale Loans Total Percent Group I $ 402 $ 148 $ 35 $ 67 $ 185 $ 224 $ 1,061 $ 24,242 $ 25,303 89.1 % Group II 2 21 — 5 2 42 72 2,751 2,823 9.9 Group III — — — — — 10 10 233 243 0.9 Group IV — — 1 — — 3 4 35 39 0.1 Total (a) $ 404 $ 169 $ 36 $ 72 $ 187 $ 279 $ 1,147 $ 27,261 $ 28,408 100.0 % __________ (a) Total past due dealer financing receivables at December 31, 2022 were $9 million. NOTE 4. FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES ( Continued ) The credit quality analysis of dealer financing receivables at March 31, 2023 was as follows (in millions): Amortized Cost Basis by Origination Year Dealer Loans Prior to 2019 2019 2020 2021 2022 2023 Total Wholesale Loans Total Percent Group I $ 516 $ 33 $ 67 $ 179 $ 83 $ 189 $ 1,067 $ 25,635 $ 26,702 91.5 % Group II 3 — 2 2 1 51 59 2,115 2,174 7.5 Group III — — — — — 10 10 255 265 0.9 Group IV — 1 — — — 3 4 29 33 0.1 Total (a) $ 519 $ 34 $ 69 $ 181 $ 84 $ 253 $ 1,140 $ 28,034 $ 29,174 100.0 % Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — __________ (a) Total past due dealer financing receivables at March 31, 2023 were $7 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. Loan Modifications. Consumer and non-consumer receivables that have a modified interest rate and/or a term extension (including receivables that were modified in reorganization proceedings pursuant to the U.S. Bankruptcy Code) are typically considered to be loan modifications. We do not grant modifications to the principal balance of our receivables. If a receivable is modified in a reorganization proceeding, all payment requirements of the reorganization plan need to be met before remaining balances are forgiven. During the collection process, we may offer a term extension to a customer experiencing financial difficulty. During the extension period, finance charges continue to accrue. If the customer's financial difficulty is not temporary, but we believe the customer is willing and able to repay their loan at a lower payment amount, we may offer to modify the interest rate and/or extend the term in order to lower the scheduled monthly payment. In those cases, the outstanding balance generally remains unchanged. The use of interest rate modifications and term extensions helps us mitigate financial loss. Term extensions may assist in cases where we believe the customer will recover from short-term financial difficulty and resume regularly scheduled payments. Before offering an interest rate modification or term extension, we evaluate and take into account the capacity of the customer to meet the revised payment terms. Although the granting of an extension could delay the eventual charge-off of a receivable, we are typically able to repossess and sell the related collateral, thereby mitigating the loss. The effect of most loan modifications made to borrowers experiencing financial difficulty is included in the historical trends used to measure the allowance for credit losses. A loan modification that improves the delinquency status of a borrower reduces the probability of default, which results in a lower allowance for credit losses. At March 31, 2023, an insignificant portion of our total finance receivables portfolio had been granted a loan modification and these modifications are generally treated as a continuation of the existing loan . Allowance for Credit Losses The allowance for credit losses represents our estimate of the lifetime expected credit losses inherent in finance receivables as of the balance sheet date. The adequacy of the allowance for credit losses is assessed quarterly. Adjustments to the allowance for credit losses are made by recording charges to the Provision for/(Benefit from) 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. NOTE 4. FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES ( Continued ) Charge-offs on finance receivables include uncollected amounts related to principal, interest, late fees, and other allowable charges. Recoveries on finance receivables previously charged off as uncollectible are credited to the allowance for credit losses. In the event 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 March 31 was as follows (in millions): First Quarter 2022 First Quarter 2023 Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 903 $ 22 $ 925 $ 838 $ 7 $ 845 Charge-offs (62) — (62) (96) — (96) Recoveries 43 1 44 38 1 39 Provision for/(Benefit from) credit losses (59) (5) (64) 78 (1) 77 Other (a) 1 1 2 5 — 5 Ending balance $ 826 $ 19 $ 845 $ 863 $ 7 $ 870 __________ (a) Primarily represents amounts related to translation adjustments. During the first quarter of 2023, the allowance for credit losses increased $25 million, driven by an increase in finance receivables. Net charge-offs increased from a year ago reflecting normalization from extraordinarily low levels. The impact of higher inflation and higher interest rates 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	3 Months Ended
	Mar. 31, 2023
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, March 31, Vehicles, at cost (a) $ 26,055 $ 25,193 Accumulated depreciation (4,234) (4,136) Net investment in operating leases $ 21,821 $ 21,057 __________

Transfers of Receivables

Transfers of Receivables	3 Months Ended
	Mar. 31, 2023
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, or pledge them as collateral in certain transactions outside of the United States, in other types of 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, Germany, Italy, the United Kingdom, 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 SPEs 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 SPEs 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 a portion of the economic interests in the asset-backed securitization transactions, which could be retained in the form of a portion of the senior interests, the subordinated interests, cash reserve accounts, residual interests, and servicing rights. The transfers of assets in our securitization transactions do not qualify for accounting sale treatment. 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 the accounting for 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, 2022 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 $ 1.5 $ 31.7 $ 0.3 $ 31.4 $ 26.6 Wholesale financing 0.2 17.7 — 17.7 10.6 Finance receivables 1.7 49.4 0.3 49.1 37.2 Net investment in operating leases 0.6 12.5 — 12.5 8.2 Total VIE $ 2.3 $ 61.9 $ 0.3 $ 61.6 $ 45.4 Non-VIE Retail financing $ 0.5 $ 12.2 $ 0.2 $ 12.0 $ 10.7 Wholesale financing — 0.5 — 0.5 0.3 Finance receivables 0.5 12.7 0.2 12.5 11.0 Net investment in operating leases — — — — — Total Non-VIE $ 0.5 $ 12.7 $ 0.2 $ 12.5 $ 11.0 Total securitization transactions Retail financing $ 2.0 $ 43.9 $ 0.5 $ 43.4 $ 37.3 Wholesale financing 0.2 18.2 — 18.2 10.9 Finance receivables 2.2 62.1 0.5 61.6 48.2 Net investment in operating leases 0.6 12.5 — 12.5 8.2 Total securitization transactions $ 2.8 $ 74.6 $ 0.5 $ 74.1 $ 56.4 __________ (a) Unearned interest supplements and residual support are excluded from securitization transactions. (b) Includes assets to be used to settle the liabilities of the consolidated VIEs. (c) Includes unamortized discount and debt issuance costs. NOTE 6. TRANSFERS OF RECEIVABLES AND VARIABLE INTEREST ENTITIES (Continued) March 31, 2023 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 $ 33.7 $ 0.3 $ 33.4 $ 28.2 Wholesale financing 0.2 17.1 — 17.1 11.0 Finance receivables 2.0 50.8 0.3 50.5 39.2 Net investment in operating leases 0.4 9.5 — 9.5 6.6 Total VIE $ 2.4 $ 60.3 $ 0.3 $ 60.0 $ 45.8 Non-VIE Retail financing $ 0.5 $ 10.2 $ 0.1 $ 10.1 $ 8.9 Wholesale financing — 0.5 — 0.5 0.3 Finance receivables 0.5 10.7 0.1 10.6 9.2 Net investment in operating leases — — — — — Total Non-VIE $ 0.5 $ 10.7 $ 0.1 $ 10.6 $ 9.2 Total securitization transactions Retail financing $ 2.3 $ 43.9 $ 0.4 $ 43.5 $ 37.1 Wholesale financing 0.2 17.6 — 17.6 11.3 Finance receivables 2.5 61.5 0.4 61.1 48.4 Net investment in operating leases 0.4 9.5 — 9.5 6.6 Total securitization transactions $ 2.9 $ 71.0 $ 0.4 $ 70.6 $ 55.0 __________ (a) Unearned interest supplements and residual support are excluded from securitization transactions. (b) Includes assets to be used to settle the liabilities of the consolidated VIEs. (c) Includes unamortized discount and debt issuance cost.

Derivative Financial Instrument

Derivative Financial Instruments and Hedging Activities	3 Months Ended
	Mar. 31, 2023
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 March 31 were as follows (in millions): First Quarter 2022 2023 Fair value hedges Interest rate contracts Net interest settlements and accruals on hedging instruments $ 76 $ (140) Fair value changes on hedging instruments (986) 250 Fair value changes on hedged debt 991 (279) Cross-currency interest rate swap contracts Net interest settlements and accruals on hedging instruments (3) (14) Fair value changes on hedging instruments (37) 22 Fair value changes on hedged debt 41 (19) Derivatives not designated as hedging instruments Interest rate contracts 123 (12) Foreign currency exchange contracts (a) (2) (22) Cross-currency interest rate swap contracts (227) 85 Total $ (24) $ (129) __________ (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, 2022 March 31, 2023 Notional Fair Value of Assets Fair Value of Liabilities Notional Fair Value of Assets Fair Value of Liabilities Fair value hedges Interest rate contracts $ 16,883 $ — $ 1,653 $ 19,042 $ 15 $ 1,302 Cross-currency interest rate swap contracts 885 — 161 1,421 4 135 Derivatives not designated as hedging instruments Interest rate contracts 63,210 931 483 57,312 753 397 Foreign currency exchange contracts 4,219 41 76 4,970 7 74 Cross-currency interest rate swap contracts 6,635 15 653 6,115 38 528 Total derivative financial instruments, gross (a) (b) $ 91,832 $ 987 $ 3,026 $ 88,860 $ 817 $ 2,436 __________ (a) At December 31, 2022 and March 31, 2023, we held collateral of $210 million and $180 million, respectively, and we posted collateral of $193 million and $172 million, respectively.

Other Assets and Other Liabilit

Other Assets and Other Liabilities and Deferred Income	3 Months Ended
	Mar. 31, 2023
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, March 31, Prepaid reinsurance premiums and other reinsurance recoverables $ 779 $ 788 Accrued interest and other non-finance receivables 576 588 Property and equipment, net of accumulated depreciation (a) 233 241 Collateral held for resale, at net realizable value 233 213 Investment in non-consolidated affiliates 177 179 Deferred charges - income taxes 158 151 Restricted cash 127 133 Operating lease assets 64 64 Other 229 232 Total other assets $ 2,576 $ 2,589 __________ (a) Accumulated depreciation was $415 million and $426 million at December 31, 2022 and March 31, 2023, respectively. Other liabilities and deferred revenue were as follows (in millions): December 31, March 31, Unearned insurance premiums and fees $ 891 $ 899 Interest payable 683 701 Income tax and related interest (a) 115 149 Operating lease liabilities 66 66 Other 280 264 Total other liabilities and deferred revenue $ 2,035 $ 2,079 __________ (a) Includes income tax and interest payable to affiliated companies of $36 million and $60 million at December 31, 2022 and March 31, 2023, respectively.

Debt

Debt	3 Months Ended
	Mar. 31, 2023
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, March 31, 2022 2023 2022 2023 Short-term debt Unsecured debt Floating rate demand notes $ 10,303 $ 10,278 Other short-term debt 6,515 4,462 Asset-backed debt (a) 2,806 3,150 Total short-term debt 19,624 17,890 3.8 % 4.2 % 3.8 % 4.2 % Long-term debt Unsecured debt Notes payable within one year 7,980 10,128 Notes payable after one year 39,620 41,237 Asset-backed debt (a) Notes payable within one year 21,839 19,502 Notes payable after one year 31,840 32,449 Unamortized (discount)/premium 23 17 Unamortized issuance costs (197) (225) Fair value adjustments (b) (1,690) (1,418) Total long-term debt 99,415 101,690 3.6 % 4.0 % 3.6 % 4.0 % Total debt $ 119,039 $ 119,580 3.6 % 4.0 % 3.6 % 4.0 % Fair value of debt (c) $ 117,214 $ 118,688 __________ (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 $31 million and $(31) million at December 31, 2022 and March 31, 2023, respectively. The carrying value of hedged debt was $33.3 billion and $36.5 billion at December 31, 2022 and March 31, 2023, respectively.

Restructuring and Related Activ

Restructuring and Related Activities	3 Months Ended
	Mar. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure	RESTRUCTURING ACTIONS In June 2021, we announced that our subsidiaries in Brazil and Argentina would cease originating receivables and wind down operations. During the fourth quarter of 2021, we completed the sale of our wholesale and dealer receivables portfolio in Brazil and ceased originations of wholesale and dealer receivables in Argentina. In the first quarter of 2022, we liquidated two of our investments in Brazil and reclassified foreign currency translation losses of $119 million to Other income/(loss), net . In December 2021, we received a capital contribution from a subsidiary of Ford in exchange for a minority interest share in one of our Argentina-based subsidiaries. As a result, we recorded $22 million in Shareholder’s interest attributable to noncontrolling interests on our consolidated balance sheets. During the first quarter of 2022, we reacquired Ford’s minority interest share and, in exchange, transferred assets associated with an Argentina-based subsidiary to Ford. In addition, during the first quarter of 2022, we sold our shares in a second Argentina-based subsidiary to Ford. The difference between the carrying value of the net assets transferred and sold to Ford and the consideration received from Ford was $61 million, reported as a reduction to Shareholder’s interest . As a result of the transfer and sale, Ford Credit reclassified $75 million of accumulated foreign currency translation losses to net income, included in Other income/(loss), net. Accumulated foreign currency translation losses associated with our remaining investments in Brazil and Argentina included in Accumulated other comprehensive income/(loss) at March 31, 2023 were $223 million. We expect to reclassify these losses to income upon substantially complete liquidation of our investments, which may occur over multiple reporting periods. Although the timing for the completion of these actions is uncertain, we expect the majority of losses to be recognized in 2024 or later.

Other Income, Net

Other Income, Net	3 Months Ended
	Mar. 31, 2023
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 March 31 were as follows (in millions): First Quarter 2022 2023 Interest and investment income $ (5) $ 135 Currency revaluation gains/(losses) 152 (109) Gains/(losses) on derivatives (123) 68 Gains/(losses) on changes in investments in affiliates (a) (195) — Other 2 6 Total other income/(loss), net $ (169) $ 100 __________ (a) Includes 2022 losses related to our restructuring in South America described in Note 10.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2023
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. Our segments are: the United States and Canada, Europe, and All Other. Our All Other segment includes China, India, Mexico, Brazil, Argentina, and our joint venture in South Africa. We measure the performance of our segments primarily on an income before income taxes basis, after excluding market valuation adjustments to derivatives and exchange-rate fluctuations on foreign currency-denominated transactions, which are reflected in Unallocated Other. These adjustments are excluded when assessing our segment performance because they are carried out at the corporate level. Beginning in the third quarter of 2022, consistent with how our Chief Operating Decision Maker assesses performance of the segments and makes decisions about resource allocations, we changed the measurements used in allocating interest and governance expenses among the operating segments. Prior period amounts have been adjusted retrospectively to reflect the foregoing changes. Key financial information for our business segments for the periods ended or at March 31 was as follows (in millions): United States and Canada Europe All Other Total Unallocated Other (a) Total First Quarter 2022 Total revenue $ 2,029 $ 195 $ 102 $ 2,326 $ — $ 2,326 Income before income taxes 766 76 (164) 678 76 754 Depreciation on vehicles subject to operating leases 526 (11) — 515 — 515 Interest expense 558 48 48 654 (43) 611 Provision for/(Benefit from) credit losses (67) (3) 6 (64) — (64) Net finance receivables and net investment in operating leases 93,955 17,991 5,449 117,395 — 117,395 Total assets 106,762 20,633 6,182 133,577 — 133,577 First Quarter 2023 Total revenue $ 2,170 $ 284 $ 102 $ 2,556 $ — $ 2,556 Income before income taxes 273 78 22 373 (70) 303 Depreciation on vehicles subject to operating leases 557 2 — 559 — 559 Interest expense 1,195 130 51 1,376 16 1,392 Provision for/(Benefit from) credit losses 63 4 10 77 — 77 Net finance receivables and net investment in operating leases 98,659 20,225 4,943 123,827 — 123,827 Total assets 109,955 23,355 5,622 138,932 — 138,932

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
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 $83 million and $48 million at December 31, 2022 and March 31, 2023, respectively. Of these values, $17 million and $21 million at December 31, 2022 and March 31, 2023, respectively, were counter-guaranteed by Ford to us. There were no recorded liabilities related to guarantees and limited indemnities at December 31, 2022 or March 31, 2023. 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. Litigation and Claims Various legal actions, proceedings, and claims (generally, “matters”) are pending or may be instituted or asserted against us. These include, but are not limited to, matters arising out of governmental regulations; tax matters; alleged illegal acts resulting in fines or penalties; financial services; employment-related matters; dealer and other contractual relationships; personal injury matters; investor matters; and financial reporting matters. Certain of the pending legal actions are, or purport to be, class actions. Some of the matters involve or may involve claims for compensatory, punitive, or antitrust or other treble damages in very large amounts, sanctions, assessments, or other relief, which, if granted, would require very large expenditures. The extent of our financial exposure to these matters is difficult to estimate. Many matters do not specify a dollar amount for damages, and many others specify only a jurisdictional minimum. To the extent an amount is asserted, our historical experience suggests that in most instances the amount asserted is not a reliable indicator of the ultimate outcome. We accrue for matters when losses are deemed probable and reasonably estimable. In evaluating matters for accrual and disclosure purposes, we take into consideration factors such as our historical experience with matters of a similar nature, the specific facts and circumstances asserted, the likelihood that we will prevail, and the severity of any potential loss. We reevaluate and update our accruals as matters progress over time. NOTE 13. COMMITMENTS AND CONTINGENCIES (Continued) 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. We do not reasonably expect, based on our analysis, that such matters would have a material effect on future financial statements for a particular year, although such an outcome is possible.

Accounting Policies (Policies)

Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
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 periods presented 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, 2022 (“2022 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. Loan Modifications. Consumer and non-consumer receivables that have a modified interest rate and/or a term extension (including receivables that were modified in reorganization proceedings pursuant to the U.S. Bankruptcy Code) are typically considered to be loan modifications. We do not grant modifications to the principal balance of our receivables. If a receivable is modified in a reorganization proceeding, all payment requirements of the reorganization plan need to be met before remaining balances are forgiven. During the collection process, we may offer a term extension to a customer experiencing financial difficulty. During the extension period, finance charges continue to accrue. If the customer's financial difficulty is not temporary, but we believe the customer is willing and able to repay their loan at a lower payment amount, we may offer to modify the interest rate and/or extend the term in order to lower the scheduled monthly payment. In those cases, the outstanding balance generally remains unchanged. The use of interest rate modifications and term extensions helps us mitigate financial loss. Term extensions may assist in cases where we believe the customer will recover from short-term financial difficulty and resume regularly scheduled payments. Before offering an interest rate modification or term extension, we evaluate and take into account the capacity of the customer to meet the revised payment terms. Although the granting of an extension could delay the eventual charge-off of a receivable, we are typically able to repossess and sell the related collateral, thereby mitigating the loss. The effect of most loan modifications made to borrowers experiencing financial difficulty is included in the historical trends used to measure the allowance for credit losses. A loan modification that improves the delinquency status of a borrower reduces the probability of default, which results in a lower allowance for credit losses. At March 31, 2023, an insignificant portion of our total finance receivables portfolio had been granted a loan modification and these modifications are generally treated as a continuation of the existing loan .
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.

Cash, Cash Equivalents, and Mar

Cash, Cash Equivalents, and Marketable Securities (Tables)	3 Months Ended
	Mar. 31, 2023
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, March 31, Cash and cash equivalents United States government 1 $ 1,045 $ 1,183 United States government agencies 2 150 1,045 Non-United States government and agencies 2 199 70 Corporate debt 2 792 439 Total marketable securities classified as cash equivalents 2,186 2,737 Cash, time deposits, and money market funds 8,207 6,578 Total cash and cash equivalents $ 10,393 $ 9,315 Marketable securities United States government 1 $ 187 $ 173 United States government agencies 2 221 270 Non-United States government and agencies 2 658 548 Corporate debt 2 266 421 Other marketable securities 2 161 163 Total marketable securities $ 1,493 $ 1,575
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, March 31, Cash and cash equivalents $ 10,393 $ 9,315 Restricted cash (a) 127 133 Total cash, cash equivalents, and restricted cash $ 10,520 $ 9,448 __________ (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)	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Financing Receivable, Allowance for Credit Loss	An analysis of the allowance for credit losses related to finance receivables for the periods ended March 31 was as follows (in millions): First Quarter 2022 First Quarter 2023 Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 903 $ 22 $ 925 $ 838 $ 7 $ 845 Charge-offs (62) — (62) (96) — (96) Recoveries 43 1 44 38 1 39 Provision for/(Benefit from) credit losses (59) (5) (64) 78 (1) 77 Other (a) 1 1 2 5 — 5 Ending balance $ 826 $ 19 $ 845 $ 863 $ 7 $ 870 __________
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	Total finance receivables, net were as follows (in millions): December 31, March 31, Consumer Retail installment contracts, gross $ 67,043 $ 68,355 Finance leases, gross 6,765 6,990 Retail financing, gross 73,808 75,345 Unearned interest supplements from Ford and affiliated companies (2,305) (2,435) Consumer finance receivables 71,503 72,910 Non-Consumer Dealer financing 28,408 29,174 Other financing 1,447 1,556 Non-Consumer finance receivables 29,855 30,730 Total recorded investment $ 101,358 $ 103,640 Recorded investment in finance receivables $ 101,358 $ 103,640 Allowance for credit losses (845) (870) Total finance receivables, net $ 100,513 $ 102,770 Net finance receivables subject to fair value (a) $ 94,090 $ 96,148 Fair value (b) 91,410 94,303 __________ (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, 2022 was as follows (in millions): Amortized Cost Basis by Origination Year Prior to 2018 2018 2019 2020 2021 2022 Total Percent Consumer 31-60 days past due $ 41 $ 60 $ 91 $ 181 $ 150 $ 126 $ 649 0.9 % 61-120 days past due 9 12 20 39 40 29 149 0.2 Greater than 120 days past due 9 4 5 7 7 6 38 0.1 Total past due 59 76 116 227 197 161 836 1.2 Current 883 2,564 6,149 13,864 18,382 28,825 70,667 98.8 Total $ 942 $ 2,640 $ 6,265 $ 14,091 $ 18,579 $ 28,986 $ 71,503 100.0 % The credit quality analysis of consumer receivables at March 31, 2023 was as follows (in millions): Amortized Cost Basis by Origination Year Prior to 2019 2019 2020 2021 2022 2023 Total Percent Consumer 31-60 days past due $ 75 $ 72 $ 149 $ 135 $ 150 $ 10 $ 591 0.8 % 61-120 days past due 11 13 28 30 36 1 119 0.2 Greater than 120 days past due 12 4 8 10 6 — 40 — Total past due 98 89 185 175 192 11 750 1.0 Current 2,575 5,075 12,202 16,567 26,953 8,788 72,160 99.0 Total $ 2,673 $ 5,164 $ 12,387 $ 16,742 $ 27,145 $ 8,799 $ 72,910 100.0 % Gross charge-offs $ 17 $ 12 $ 23 $ 22 $ 22 $ — $ 96
Financing Receivables Credit Quality Indicators [Table Text Block]	The credit quality analysis of dealer financing receivables at December 31, 2022 was as follows (in millions): Amortized Cost Basis by Origination Year Dealer Loans Prior to 2018 2018 2019 2020 2021 2022 Total Wholesale Loans Total Percent Group I $ 402 $ 148 $ 35 $ 67 $ 185 $ 224 $ 1,061 $ 24,242 $ 25,303 89.1 % Group II 2 21 — 5 2 42 72 2,751 2,823 9.9 Group III — — — — — 10 10 233 243 0.9 Group IV — — 1 — — 3 4 35 39 0.1 Total (a) $ 404 $ 169 $ 36 $ 72 $ 187 $ 279 $ 1,147 $ 27,261 $ 28,408 100.0 % __________ (a) Total past due dealer financing receivables at December 31, 2022 were $9 million. NOTE 4. FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES ( Continued ) The credit quality analysis of dealer financing receivables at March 31, 2023 was as follows (in millions): Amortized Cost Basis by Origination Year Dealer Loans Prior to 2019 2019 2020 2021 2022 2023 Total Wholesale Loans Total Percent Group I $ 516 $ 33 $ 67 $ 179 $ 83 $ 189 $ 1,067 $ 25,635 $ 26,702 91.5 % Group II 3 — 2 2 1 51 59 2,115 2,174 7.5 Group III — — — — — 10 10 255 265 0.9 Group IV — 1 — — — 3 4 29 33 0.1 Total (a) $ 519 $ 34 $ 69 $ 181 $ 84 $ 253 $ 1,140 $ 28,034 $ 29,174 100.0 % Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — __________

Net Investment in Operating Lea

Net Investment in Operating Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Leases, Operating [Abstract]
Net investment in operating leases [Table Text Block]	Net investment in operating leases was as follows (in millions): December 31, March 31, Vehicles, at cost (a) $ 26,055 $ 25,193 Accumulated depreciation (4,234) (4,136) Net investment in operating leases $ 21,821 $ 21,057 __________

Transfers of Receivables (Table

Transfers of Receivables (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2022 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 $ 1.5 $ 31.7 $ 0.3 $ 31.4 $ 26.6 Wholesale financing 0.2 17.7 — 17.7 10.6 Finance receivables 1.7 49.4 0.3 49.1 37.2 Net investment in operating leases 0.6 12.5 — 12.5 8.2 Total VIE $ 2.3 $ 61.9 $ 0.3 $ 61.6 $ 45.4 Non-VIE Retail financing $ 0.5 $ 12.2 $ 0.2 $ 12.0 $ 10.7 Wholesale financing — 0.5 — 0.5 0.3 Finance receivables 0.5 12.7 0.2 12.5 11.0 Net investment in operating leases — — — — — Total Non-VIE $ 0.5 $ 12.7 $ 0.2 $ 12.5 $ 11.0 Total securitization transactions Retail financing $ 2.0 $ 43.9 $ 0.5 $ 43.4 $ 37.3 Wholesale financing 0.2 18.2 — 18.2 10.9 Finance receivables 2.2 62.1 0.5 61.6 48.2 Net investment in operating leases 0.6 12.5 — 12.5 8.2 Total securitization transactions $ 2.8 $ 74.6 $ 0.5 $ 74.1 $ 56.4 __________ (a) Unearned interest supplements and residual support are excluded from securitization transactions. (b) Includes assets to be used to settle the liabilities of the consolidated VIEs. (c) Includes unamortized discount and debt issuance costs. NOTE 6. TRANSFERS OF RECEIVABLES AND VARIABLE INTEREST ENTITIES (Continued) March 31, 2023 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 $ 33.7 $ 0.3 $ 33.4 $ 28.2 Wholesale financing 0.2 17.1 — 17.1 11.0 Finance receivables 2.0 50.8 0.3 50.5 39.2 Net investment in operating leases 0.4 9.5 — 9.5 6.6 Total VIE $ 2.4 $ 60.3 $ 0.3 $ 60.0 $ 45.8 Non-VIE Retail financing $ 0.5 $ 10.2 $ 0.1 $ 10.1 $ 8.9 Wholesale financing — 0.5 — 0.5 0.3 Finance receivables 0.5 10.7 0.1 10.6 9.2 Net investment in operating leases — — — — — Total Non-VIE $ 0.5 $ 10.7 $ 0.1 $ 10.6 $ 9.2 Total securitization transactions Retail financing $ 2.3 $ 43.9 $ 0.4 $ 43.5 $ 37.1 Wholesale financing 0.2 17.6 — 17.6 11.3 Finance receivables 2.5 61.5 0.4 61.1 48.4 Net investment in operating leases 0.4 9.5 — 9.5 6.6 Total securitization transactions $ 2.9 $ 71.0 $ 0.4 $ 70.6 $ 55.0 __________ (a) Unearned interest supplements and residual support are excluded from securitization transactions. (b) Includes assets to be used to settle the liabilities of the consolidated VIEs. (c) Includes unamortized discount and debt issuance cost.

Derivative Financial Instrume_2

Derivative Financial Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2023
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 March 31 were as follows (in millions): First Quarter 2022 2023 Fair value hedges Interest rate contracts Net interest settlements and accruals on hedging instruments $ 76 $ (140) Fair value changes on hedging instruments (986) 250 Fair value changes on hedged debt 991 (279) Cross-currency interest rate swap contracts Net interest settlements and accruals on hedging instruments (3) (14) Fair value changes on hedging instruments (37) 22 Fair value changes on hedged debt 41 (19) Derivatives not designated as hedging instruments Interest rate contracts 123 (12) Foreign currency exchange contracts (a) (2) (22) Cross-currency interest rate swap contracts (227) 85 Total $ (24) $ (129) __________ (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, 2022 March 31, 2023 Notional Fair Value of Assets Fair Value of Liabilities Notional Fair Value of Assets Fair Value of Liabilities Fair value hedges Interest rate contracts $ 16,883 $ — $ 1,653 $ 19,042 $ 15 $ 1,302 Cross-currency interest rate swap contracts 885 — 161 1,421 4 135 Derivatives not designated as hedging instruments Interest rate contracts 63,210 931 483 57,312 753 397 Foreign currency exchange contracts 4,219 41 76 4,970 7 74 Cross-currency interest rate swap contracts 6,635 15 653 6,115 38 528 Total derivative financial instruments, gross (a) (b) $ 91,832 $ 987 $ 3,026 $ 88,860 $ 817 $ 2,436 __________ (a) At December 31, 2022 and March 31, 2023, we held collateral of $210 million and $180 million, respectively, and we posted collateral of $193 million and $172 million, respectively.

Other Assets and Other Liabil_2

Other Assets and Other Liabilities and Deferred Income (Tables)	3 Months Ended
	Mar. 31, 2023
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, March 31, Prepaid reinsurance premiums and other reinsurance recoverables $ 779 $ 788 Accrued interest and other non-finance receivables 576 588 Property and equipment, net of accumulated depreciation (a) 233 241 Collateral held for resale, at net realizable value 233 213 Investment in non-consolidated affiliates 177 179 Deferred charges - income taxes 158 151 Restricted cash 127 133 Operating lease assets 64 64 Other 229 232 Total other assets $ 2,576 $ 2,589 __________ (a) Accumulated depreciation was $415 million and $426 million at December 31, 2022 and March 31, 2023, respectively. Other liabilities and deferred revenue were as follows (in millions): December 31, March 31, Unearned insurance premiums and fees $ 891 $ 899 Interest payable 683 701 Income tax and related interest (a) 115 149 Operating lease liabilities 66 66 Other 280 264 Total other liabilities and deferred revenue $ 2,035 $ 2,079 __________ (a) Includes income tax and interest payable to affiliated companies of $36 million and $60 million at December 31, 2022 and March 31, 2023, respectively.

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2023
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, March 31, 2022 2023 2022 2023 Short-term debt Unsecured debt Floating rate demand notes $ 10,303 $ 10,278 Other short-term debt 6,515 4,462 Asset-backed debt (a) 2,806 3,150 Total short-term debt 19,624 17,890 3.8 % 4.2 % 3.8 % 4.2 % Long-term debt Unsecured debt Notes payable within one year 7,980 10,128 Notes payable after one year 39,620 41,237 Asset-backed debt (a) Notes payable within one year 21,839 19,502 Notes payable after one year 31,840 32,449 Unamortized (discount)/premium 23 17 Unamortized issuance costs (197) (225) Fair value adjustments (b) (1,690) (1,418) Total long-term debt 99,415 101,690 3.6 % 4.0 % 3.6 % 4.0 % Total debt $ 119,039 $ 119,580 3.6 % 4.0 % 3.6 % 4.0 % Fair value of debt (c) $ 117,214 $ 118,688 __________ (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 $31 million and $(31) million at December 31, 2022 and March 31, 2023, respectively. The carrying value of hedged debt was $33.3 billion and $36.5 billion at December 31, 2022 and March 31, 2023, respectively.

Other Income, Net (Tables)

Other Income, Net (Tables)	3 Months Ended
	Mar. 31, 2023
Other Income and Expenses [Abstract]
Schedule of Other Income [Table Text Block]	The amounts included in Other income/(loss), net for the periods ended March 31 were as follows (in millions): First Quarter 2022 2023 Interest and investment income $ (5) $ 135 Currency revaluation gains/(losses) 152 (109) Gains/(losses) on derivatives (123) 68 Gains/(losses) on changes in investments in affiliates (a) (195) — Other 2 6 Total other income/(loss), net $ (169) $ 100 __________ (a) Includes 2022 losses related to our restructuring in South America described in Note 10.

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2023
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 March 31 was as follows (in millions): United States and Canada Europe All Other Total Unallocated Other (a) Total First Quarter 2022 Total revenue $ 2,029 $ 195 $ 102 $ 2,326 $ — $ 2,326 Income before income taxes 766 76 (164) 678 76 754 Depreciation on vehicles subject to operating leases 526 (11) — 515 — 515 Interest expense 558 48 48 654 (43) 611 Provision for/(Benefit from) credit losses (67) (3) 6 (64) — (64) Net finance receivables and net investment in operating leases 93,955 17,991 5,449 117,395 — 117,395 Total assets 106,762 20,633 6,182 133,577 — 133,577 First Quarter 2023 Total revenue $ 2,170 $ 284 $ 102 $ 2,556 $ — $ 2,556 Income before income taxes 273 78 22 373 (70) 303 Depreciation on vehicles subject to operating leases 557 2 — 559 — 559 Interest expense 1,195 130 51 1,376 16 1,392 Provision for/(Benefit from) credit losses 63 4 10 77 — 77 Net finance receivables and net investment in operating leases 98,659 20,225 4,943 123,827 — 123,827 Total assets 109,955 23,355 5,622 138,932 — 138,932

Cash, Cash Equivalents, and M_2

Cash, Cash Equivalents, and Marketable Securities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash, Cash Equivalents, and Short-term Investments	$ 6,578	$ 8,207
Total cash and cash equivalents	9,315	10,393
Restricted Cash	133	127
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	9,448	10,520	$ 10,698	$ 11,091
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash and cash equivalents	2,737	2,186
Fair Value, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities	1,575	1,493
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	1,183	1,045
Marketable securities	173	187
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	1,045	150
Marketable securities	270	221
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	70	199
Marketable securities	548	658
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	439	792
Marketable securities	421	266
Other Debt Obligations [Member] | Fair Value, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities	$ 163	$ 161

Finance Receivables Net (Detail

Finance Receivables Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Sales Type and Direct Financing Lease Revenue	$ 83	$ 77
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	103,640		$ 101,358
Financing Receivable, Allowance for Credit Loss	(870)	(845)	(845)	$ (925)
Finance leases, net	$ 102,770		100,513
Financing Receivable, Threshold Period Past Due	31 days
Interest Receivable	$ 199		187
Consumer Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	72,910		71,503
Financing Receivable, Allowance for Credit Loss, Writeoff	96
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff	0
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff	22
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff	22
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff	23
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff	12
Financing Receivable, Allowance for Credit Loss	(863)	(826)	(838)	(903)
Financing Receivable, Originated, More Than Five Years before Current Fiscal Year, Writeoff	17
Non-Consumer Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	30,730		29,855
Financing Receivable, Revolving, Writeoff	0
Financing Receivable, Allowance for Credit Loss	(7)	$ (19)	(7)	$ (22)
Retail Installment Loans [Member] | Consumer Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	68,355		67,043
Retail [Member] | Consumer Segment [Member]
Net Finance Receivables [Abstract]
Unearned interest supplements from Ford and affiliated companies	(2,435)		(2,305)
Financing Receivable, before Allowance for Credit Loss	72,910		71,503
Finance Receivable Before Unearned Interest Supplements	75,345		73,808
Finance leases [Member]
Net Finance Receivables [Abstract]
Finance leases, net	6,622		6,423
Finance leases [Member] | Consumer Segment [Member]
Net Finance Receivables [Abstract]
Sales-type and Direct Financing Leases, Lease Receivable	6,990		6,765
Wholesale and Dealer Loans [Member] | Non-Consumer Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	29,174		28,408
Financing Receivable, Allowance for Credit Loss, Writeoff	0
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff	0
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff	0
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff	0
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff	0
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff	0
Financing Receivable, Originated, More Than Five Years before Current Fiscal Year, Writeoff	0
Other Finance Receivables [Member] | Non-Consumer Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	1,556		1,447
Retail Installment loans, dealer financing, and other financing [Member]
Net Finance Receivables [Abstract]
Finance leases, net	96,148		94,090
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Net Finance Receivables [Abstract]
Finance leases, net	96,148		94,090
Fair value (b)	$ 94,303		$ 91,410

Finance Receivables - Credit Qu

Finance Receivables - Credit Quality and Impaired Receivables (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Non-Accrual of Revenue	90
Financing Receivables	$ 103,640,000,000	$ 101,358,000,000
Wholesale and Dealer Loans [Member] | Financing Receivable [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	7,000,000	9,000,000
Commercial Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	30,730,000,000	29,855,000,000
Financing Receivable, Revolving	28,034,000,000	27,261,000,000
Commercial Portfolio Segment [Member] | Group I
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	26,702,000,000	25,303,000,000
Financing Receivable, Revolving	25,635,000,000	24,242,000,000
Commercial Portfolio Segment [Member] | Group I | Percent of Total
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	0.915	0.891
Commercial Portfolio Segment [Member] | Group II
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	2,174,000,000	2,823,000,000
Financing Receivable, Revolving	2,115,000,000	2,751,000,000
Commercial Portfolio Segment [Member] | Group II | Percent of Total
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	0.075	0.099
Commercial Portfolio Segment [Member] | Group III
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	265,000,000	243,000,000
Financing Receivable, Revolving	255,000,000	233,000,000
Commercial Portfolio Segment [Member] | Group III | Percent of Total
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	0.009	0.009
Commercial Portfolio Segment [Member] | Group IV
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	33,000,000	39,000,000
Financing Receivable, Revolving	29,000,000	35,000,000
Commercial Portfolio Segment [Member] | Group IV | Percent of Total
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	0.001	0.001
Commercial Portfolio Segment [Member] | Dealer Loan
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	519,000,000	404,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	34,000,000	169,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	69,000,000	36,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	181,000,000	72,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	84,000,000	187,000,000
Financing Receivable, Originated in Current Fiscal Year	253,000,000	279,000,000
Financing Receivable Originations Total	1,140,000,000	1,147,000,000
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	516,000,000	402,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	33,000,000	148,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	67,000,000	35,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	179,000,000	67,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	83,000,000	185,000,000
Financing Receivable, Originated in Current Fiscal Year	189,000,000	224,000,000
Financing Receivable Originations Total	1,067,000,000	1,061,000,000
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	3,000,000	2,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	0	21,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	2,000,000	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	2,000,000	5,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	1,000,000	2,000,000
Financing Receivable, Originated in Current Fiscal Year	51,000,000	42,000,000
Financing Receivable Originations Total	59,000,000	72,000,000
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	0	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0	0
Financing Receivable, Originated in Current Fiscal Year	10,000,000	10,000,000
Financing Receivable Originations Total	10,000,000	10,000,000
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	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	1,000,000	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	0	1,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	0	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	0	0
Financing Receivable, Originated in Current Fiscal Year	3,000,000	3,000,000
Financing Receivable Originations Total	4,000,000	4,000,000
Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	29,174,000,000	28,408,000,000
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	29,174,000,000	28,408,000,000
Financing Receivable, Allowance for Credit Loss, Writeoff	0
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff	0
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff	0
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff	0
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff	0
Financing Receivable, Originated, More Than Five Years before Current Fiscal Year, Writeoff	0
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff	0
Consumer Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	72,910,000,000	71,503,000,000
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	2,673,000,000	942,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	5,164,000,000	2,640,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	12,387,000,000	6,265,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	16,742,000,000	14,091,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	27,145,000,000	18,579,000,000
Financing Receivable, Originated in Current Fiscal Year	8,799,000,000	28,986,000,000
Financing Receivable, Allowance for Credit Loss, Writeoff	96,000,000
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff	0
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff	22,000,000
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff	23,000,000
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff	12,000,000
Financing Receivable, Originated, More Than Five Years before Current Fiscal Year, Writeoff	17,000,000
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff	22,000,000
Consumer Portfolio Segment [Member] | Financing Receivables, 31-60 Days Past Due [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	591,000,000	649,000,000
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	75,000,000	41,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	72,000,000	60,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	149,000,000	91,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	135,000,000	181,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	150,000,000	150,000,000
Financing Receivable, Originated in Current Fiscal Year	10,000,000	126,000,000
Consumer Portfolio Segment [Member] | Financing Receivables, 61-120 Days past due [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	119,000,000	149,000,000
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	11,000,000	9,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	13,000,000	12,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	28,000,000	20,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	30,000,000	39,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	36,000,000	40,000,000
Financing Receivable, Originated in Current Fiscal Year	1,000,000	29,000,000
Consumer Portfolio Segment [Member] | Financing Receivables, Greater Than 120 Days Past Due [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	40,000,000	38,000,000
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	12,000,000	9,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	4,000,000	4,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	8,000,000	5,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	10,000,000	7,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	6,000,000	7,000,000
Financing Receivable, Originated in Current Fiscal Year	0	6,000,000
Consumer Portfolio Segment [Member] | Total past due [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	750,000,000	836,000,000
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	98,000,000	59,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	89,000,000	76,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	185,000,000	116,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	175,000,000	227,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	192,000,000	197,000,000
Financing Receivable, Originated in Current Fiscal Year	11,000,000	161,000,000
Consumer Portfolio Segment [Member] | Financial Asset, 1 to 29 Days Past Due [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	72,160,000,000	70,667,000,000
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	2,575,000,000	883,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	5,075,000,000	2,564,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	12,202,000,000	6,149,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	16,567,000,000	13,864,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	26,953,000,000	18,382,000,000
Financing Receivable, Originated in Current Fiscal Year	8,788,000,000	28,825,000,000
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	0.008	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	0.001
Consumer Portfolio Segment [Member] | Percent of Total | Total past due [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	0.010	0.012
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	$ 0.990	$ 0.988
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
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Allowance for Credit Losses [Line Items]
Financing Receivable, Allowance for Credit Loss	$ 870	$ 845	$ 845	$ 925
Finance receivables, net	102,770		100,513
Financing Receivable, Allowance for Credit Loss, Writeoff	(96)	(62)
Financing Receivable, Allowance for Credit Loss, Recovery	39	44
Financing Receivable, Credit Loss, Expense (Reversal)	77	(64)
Financing Receivable, Allowance for Credit Losses, Other	5	2
Financing Receivable, before Allowance for Credit Loss	103,640		101,358
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease)	$ 25
Financing Receivable, Threshold Period Past Due, Writeoff	120 days
Commercial Portfolio Segment [Member]
Allowance for Credit Losses [Line Items]
Financing Receivable, Allowance for Credit Loss	$ 7	19	7	22
Financing Receivable, Allowance for Credit Loss, Writeoff	0	0
Financing Receivable, Allowance for Credit Loss, Recovery	1	1
Financing Receivable, Credit Loss, Expense (Reversal)	(1)	(5)
Financing Receivable, Allowance for Credit Losses, Other	0	1
Financing Receivable, before Allowance for Credit Loss	30,730		29,855
Consumer Portfolio Segment [Member]
Allowance for Credit Losses [Line Items]
Financing Receivable, Allowance for Credit Loss	863	826	838	$ 903
Financing Receivable, Allowance for Credit Loss, Writeoff	(96)	(62)
Financing Receivable, Allowance for Credit Loss, Recovery	38	43
Financing Receivable, Credit Loss, Expense (Reversal)	78	(59)
Financing Receivable, Allowance for Credit Losses, Other	5	$ 1
Financing Receivable, before Allowance for Credit Loss	72,910		71,503
Retail Installment loans, dealer financing, and other financing [Member]
Allowance for Credit Losses [Line Items]
Finance receivables, net	$ 96,148		$ 94,090

Net Investments in Operating _2

Net Investments in Operating Leases (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 426	$ 415
Net Investment in Operating Leases	$ 21,057	21,821
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	$ 25,193	26,055
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	4,136	4,234
Net Investment in Operating Leases	$ 21,057	$ 21,821

Transfers of Receivables - Asse

Transfers of Receivables - Assets and Liabilities of Securitizations (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Securitization Transactions [Line Items]
Cash and cash equivalents	$ 9,315	$ 10,393
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	123,827		$ 117,395
Related Debt	119,580	119,039
Total assets	138,932	138,576	$ 133,577
Consolidated Entities [Member] | Securitization Transactions [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	2,900	2,800
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	71,000	74,600
Allowance for Credit Losses	400	500
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	70,600	74,100
Related Debt	55,000	56,400
Consolidated Entities [Member] | Securitization Transactions [Member] | Financing Receivable [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	2,500	2,200
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	61,500	62,100
Allowance for Credit Losses	400	500
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	61,100	61,600
Related Debt	48,400	48,200
Consolidated Entities [Member] | Securitization Transactions [Member] | Retail [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	2,300	2,000
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	43,900	43,900
Allowance for Credit Losses	400	500
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	43,500	43,400
Related Debt	37,100	37,300
Consolidated Entities [Member] | Securitization Transactions [Member] | Wholesale [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	200	200
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	17,600	18,200
Allowance for Credit Losses	0	0
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	17,600	18,200
Related Debt	11,300	10,900
Consolidated Entities [Member] | Securitization Transactions [Member] | Net Investment in Operating Leases [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	400	600
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	9,500	12,500
Allowance for Credit Losses	0	0
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	9,500	12,500
Related Debt	6,600	8,200
Variable Interest Entity, Primary Beneficiary [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	2,438	2,274
Related Debt	45,758	45,451
Variable Interest Entity, Primary Beneficiary [Member] | Securitization Transactions [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	2,400	2,300
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	60,300	61,900
Allowance for Credit Losses	300	300
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	60,000	61,600
Related Debt	45,800	45,400
Variable Interest Entity, Primary Beneficiary [Member] | Securitization Transactions [Member] | Financing Receivable [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	2,000	1,700
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	50,800	49,400
Allowance for Credit Losses	300	300
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	50,500	49,100
Related Debt	39,200	37,200
Variable Interest Entity, Primary Beneficiary [Member] | Securitization Transactions [Member] | Retail [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	1,800	1,500
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	33,700	31,700
Allowance for Credit Losses	300	300
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	33,400	31,400
Related Debt	28,200	26,600
Variable Interest Entity, Primary Beneficiary [Member] | Securitization Transactions [Member] | Wholesale [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	200	200
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	17,100	17,700
Allowance for Credit Losses	0	0
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	17,100	17,700
Related Debt	11,000	10,600
Variable Interest Entity, Primary Beneficiary [Member] | Securitization Transactions [Member] | Net Investment in Operating Leases [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	400	600
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	9,500	12,500
Allowance for Credit Losses	0	0
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	9,500	12,500
Related Debt	6,600	8,200
Consolidated Entity Excluding Variable Interest Entities (VIE) [Member] | Securitization Transactions [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	500	500
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	10,700	12,700
Allowance for Credit Losses	100	200
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	10,600	12,500
Related Debt	9,200	11,000
Consolidated Entity Excluding Variable Interest Entities (VIE) [Member] | Securitization Transactions [Member] | Financing Receivable [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	500	500
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	10,700	12,700
Allowance for Credit Losses	100	200
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	10,600	12,500
Related Debt	9,200	11,000
Consolidated Entity Excluding Variable Interest Entities (VIE) [Member] | Securitization Transactions [Member] | Retail [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	500	500
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	10,200	12,200
Allowance for Credit Losses	100	200
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	10,100	12,000
Related Debt	8,900	10,700
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	500	500
Allowance for Credit Losses	0	0
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	500	500
Related Debt	300	300
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 ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Derivative [Line Items]
Debt Carrying Value Fair Value	$ 36,500,000,000		$ 33,300,000,000
Income Effect of Derivative Financial Instruments [Abstract]
Derivative, Gain (Loss) on Derivative, Net	(129,000,000)	$ (24,000,000)
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Fair Value of Derivative Assets	817,000,000		987,000,000
Fair Value of Derivative Liabilities	2,436,000,000		3,026,000,000
Derivative, Notional Amount	88,860,000,000		91,832,000,000
Derivative, Collateral, Obligation to Return Cash	180,000,000		210,000,000
Derivative, Collateral, Right to Reclaim Cash	172,000,000		193,000,000
Derivative Asset, Not Offset, Policy Election Deduction	211,000,000		166,000,000
Derivative Liability, Not Offset, Policy Election Deduction	211,000,000		166,000,000
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	(140,000,000)	76,000,000
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	250,000,000	(986,000,000)
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(279,000,000)	991,000,000
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Derivative, Notional Amount	19,042,000,000		16,883,000,000
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	(14,000,000)	(3,000,000)
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	22,000,000	(37,000,000)
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(19,000,000)	41,000,000
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Derivative, Notional Amount	1,421,000,000		885,000,000
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	15,000,000		0
Fair Value of Derivative Liabilities	1,302,000,000		1,653,000,000
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	4,000,000		0
Fair Value of Derivative Liabilities	135,000,000		161,000,000
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member]
Income Effect of Derivative Financial Instruments [Abstract]
Derivative, Gain (Loss) on Derivative, Net	(12,000,000)	123,000,000
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Derivative, Notional Amount	57,312,000,000		63,210,000,000
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	753,000,000		931,000,000
Fair Value of Derivative Liabilities	397,000,000		483,000,000
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]
Income Effect of Derivative Financial Instruments [Abstract]
Derivative, Gain (Loss) on Derivative, Net	(22,000,000)	(2,000,000)
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Derivative, Notional Amount	4,970,000,000		4,219,000,000
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	7,000,000		41,000,000
Fair Value of Derivative Liabilities	74,000,000		76,000,000
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	85,000,000	$ (227,000,000)
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Derivative, Notional Amount	6,115,000,000		6,635,000,000
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	38,000,000		15,000,000
Fair Value of Derivative Liabilities	$ 528,000,000		$ 653,000,000

Other Assets and Other Liabil_3

Other Assets and Other Liabilities and Deferred Income (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Other Assets and Other Liabilities [Abstract]
Accrued interest and other non-finance receivables	$ 588	$ 576
Property, Plant and Equipment, Net	241	233
Collateral held for resale, at net realizable value, and other inventory	213	233
Deferred charges - income taxes	151	158
Prepaid Reinsurance Premiums and Other Reinsurance Recoverables	788	779
Operating lease assets	64	64
Investment in non-consolidated affiliates	179	177
Other	232	229
Other assets	2,589	2,576
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	426	415
Unearned Premiums and Fees	899	891
Interest Payable	701	683
Taxes Payable	149	115
Operating Lease, Liability	66	66
Other Liabilities	2,079	2,035
Related Party Transactions Income Taxes and Related Interest Payable	60	36
Other Liabilities, Miscellaneous	264	280
Restricted Cash	133	127
Property Subject to Operating Lease [Member]
Other Assets and Other Liabilities [Abstract]
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 4,136	$ 4,234

Debt (Details)

Debt (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total short-term debt	$ 17,890,000,000	$ 19,624,000,000
Unamortized discount	17,000,000	23,000,000
Unamortized debt issuance costs	(225,000,000)	(197,000,000)
Fair value adjustments	(1,418,000,000)	(1,690,000,000)
Total long-term debt	101,690,000,000	99,415,000,000
Total debt	$ 119,580,000,000	$ 119,039,000,000
Average Contractual (interest rate)	4%	3.60%
Average Effective (interest rate)	4%	3.60%
Debt Carrying Value Fair Value	$ 36,500,000,000	$ 33,300,000,000
Fair value of short-term debt	14,800,000,000	16,900,000,000
Discontinued Hedged Debt	(31,000,000)	31,000,000
Floating Rate Demand Notes [Member]
Debt Instrument [Line Items]
Total short-term debt	10,278,000,000	10,303,000,000
Other short-term debt [Member]
Debt Instrument [Line Items]
Total short-term debt	4,462,000,000	6,515,000,000
Asset-backed Securities [Member]
Debt Instrument [Line Items]
Total short-term debt	3,150,000,000	2,806,000,000
Unsecured Debt [Member]
Debt Instrument [Line Items]
Notes payable within one year	10,128,000,000	7,980,000,000
Notes payable after one year	41,237,000,000	39,620,000,000
Asset-backed Securities [Member]
Debt Instrument [Line Items]
Notes payable within one year	19,502,000,000	21,839,000,000
Notes payable after one year	$ 32,449,000,000	$ 31,840,000,000
Total short-term debt [Member]
Debt Instrument [Line Items]
Average Contractual (interest rate)	4.20%	3.80%
Average Effective (interest rate)	4.20%	3.80%
Total long-term debt [Member]
Debt Instrument [Line Items]
Average Contractual (interest rate)	4%	3.60%
Average Effective (interest rate)	4%	3.60%
Fair Value, Nonrecurring [Member] | Level 2 [Member]
Debt Instrument [Line Items]
Fair value of debt	$ 118,688,000,000	$ 117,214,000,000

Debt Maturities (Details)

Debt Maturities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Debt Maturities [Abstract]
Debt	$ 119,580	$ 119,039
Total unamortized discount	17	23
Unamortized debt issuance costs	(225)	(197)
Total fair value adjustments	$ (1,418)	$ (1,690)

Restructuring and Related Act_2

Restructuring and Related Activities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Jun. 30, 2022
Restructuring Cost and Reserve [Line Items]
SHAREHOLDER’S INTEREST	$ 0		$ 0	$ 22
Shareholder's Interest [Member]	5,166		$ 5,166
ARGENTINA
Restructuring Cost and Reserve [Line Items]
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax	75
BRAZIL
Restructuring Cost and Reserve [Line Items]
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax	119
Parent [Member]
Restructuring Cost and Reserve [Line Items]
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax	0	$ 195
Foreign Currency Translation Adjustment
Restructuring Cost and Reserve [Line Items]
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	223
Equity Component [Domain]
Restructuring Cost and Reserve [Line Items]
Shareholder's Interest [Member]	$ 61

Other Income, Net (Details)

Other Income, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Other Income and Expenses [Abstract]
Gains/(Losses) on derivatives	$ 68	$ (123)
Currency revaluation gains/(losses)	(109)	152
Interest and investment income	135	(5)
Gains/(Losses) On Changes In Investments In Affiliates	0	(195)
Other	6	2
Other income, net	$ 100	$ (169)

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total revenue	$ 2,556	$ 2,326
Income before income taxes	303	754
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	559	515
Interest expense	1,392	611
Financing Receivable, Credit Loss, Expense (Reversal)	77	(64)
Provision for credit losses	77	(64)
Net finance receivables and net investment in operating leases	123,827	117,395
Total assets	138,932	133,577	$ 138,576
Reportable segments
Segment Reporting Information [Line Items]
Total revenue	2,556	2,326
Income before income taxes	373	678
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	559	515
Interest expense	1,376	654
Financing Receivable, Credit Loss, Expense (Reversal)	77	(64)
Net finance receivables and net investment in operating leases	123,827	117,395
Total assets	138,932	133,577
Reportable segments | All Other
Other disclosures [Abstract]
Net finance receivables and net investment in operating leases	4,943	5,449
Total assets	5,622	6,182
Reportable segments | United States and Canada
Other disclosures [Abstract]
Net finance receivables and net investment in operating leases	98,659	93,955
Total assets	109,955	106,762
Reportable segments | Europe
Other disclosures [Abstract]
Net finance receivables and net investment in operating leases	20,225	17,991
Total assets	23,355	20,633
Reportable segments | United States and Canada
Segment Reporting Information [Line Items]
Total revenue	2,170	2,029
Income before income taxes	273	766
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	557	526
Interest expense	1,195	558
Financing Receivable, Credit Loss, Expense (Reversal)	63	(67)
Reportable segments | Europe
Segment Reporting Information [Line Items]
Total revenue	284	195
Income before income taxes	78	76
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	2	(11)
Interest expense	130	48
Financing Receivable, Credit Loss, Expense (Reversal)	4	(3)
Reportable segments | All Other
Segment Reporting Information [Line Items]
Total revenue	102	102
Income before income taxes	22	(164)
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	0	0
Interest expense	51	48
Financing Receivable, Credit Loss, Expense (Reversal)	10	6
Unallocated other
Segment Reporting Information [Line Items]
Total revenue	0	0
Income before income taxes	(70)	76
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	0	0
Interest expense	16	(43)
Financing Receivable, Credit Loss, Expense (Reversal)	0	0
Net finance receivables and net investment in operating leases	0	0
Total assets	$ 0	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
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 $83 million and $48 million at December 31, 2022 and March 31, 2023, respectively. Of these values, $17 million and $21 million at December 31, 2022 and March 31, 2023, respectively, were counter-guaranteed by Ford to us. There were no recorded liabilities related to guarantees and limited indemnities at December 31, 2022 or March 31, 2023. 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. Litigation and Claims Various legal actions, proceedings, and claims (generally, “matters”) are pending or may be instituted or asserted against us. These include, but are not limited to, matters arising out of governmental regulations; tax matters; alleged illegal acts resulting in fines or penalties; financial services; employment-related matters; dealer and other contractual relationships; personal injury matters; investor matters; and financial reporting matters. Certain of the pending legal actions are, or purport to be, class actions. Some of the matters involve or may involve claims for compensatory, punitive, or antitrust or other treble damages in very large amounts, sanctions, assessments, or other relief, which, if granted, would require very large expenditures. The extent of our financial exposure to these matters is difficult to estimate. Many matters do not specify a dollar amount for damages, and many others specify only a jurisdictional minimum. To the extent an amount is asserted, our historical experience suggests that in most instances the amount asserted is not a reliable indicator of the ultimate outcome. We accrue for matters when losses are deemed probable and reasonably estimable. In evaluating matters for accrual and disclosure purposes, we take into consideration factors such as our historical experience with matters of a similar nature, the specific facts and circumstances asserted, the likelihood that we will prevail, and the severity of any potential loss. We reevaluate and update our accruals as matters progress over time. NOTE 13. COMMITMENTS AND CONTINGENCIES (Continued) 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. We do not reasonably expect, based on our analysis, that such matters would have a material effect on future financial statements for a particular year, although such an outcome is possible.
Financial Guarantee [Member]
Guarantor Obligations [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 48	$ 83
Counter Guarantee [Member] | Ford Motor Company [Member]
Guarantor Obligations [Line Items]
Counter guarantee	$ 21	$ 17