Ford Motor Credit (FCZ) 10-Q 24 Apr 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document	3 Months Ended
	Mar. 31, 2024 shares
Document and Entity Information [Abstract]
Entity Incorporation, State or Country Code	DE
Entity Central Index Key	0000038009
Document Information [Line Items]
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding	0
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	1-6368
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	38-1612444
Entity Address, Address Line One	One American Road
Entity Address, Postal Zip Code	48126
Entity Address, State or Province	MI
Entity Address, City or Town	Dearborn,
Local Phone Number	(313)
Local Phone Number	322-3000
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell 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.
Entity Registrant Name	Ford Motor Credit Co LLC
F/24L [Member]
Document Information [Line Items]
Trading Symbol	F/24L
Title of 12(b) Security	Floating Rate Notes due December 1, 2024*
Security Exchange Name	NYSE
F/25M
Document Information [Line Items]
Trading Symbol	F/25M
Title of 12(b) Security	3.250% Notes due September 15, 2025*
Security Exchange Name	NYSE
F/24S
Document Information [Line Items]
Trading Symbol	F/24S
Title of 12(b) Security	2.748% Notes due on June 14, 2024*
Security Exchange Name	NYSE
F/24O [Member]
Document Information [Line Items]
Trading Symbol	F/24O
Title of 12(b) Security	4.125% Notes due on June 20, 2024*
Security Exchange Name	NYSE
F/24R [Member]
Document Information [Line Items]
Trading Symbol	F/24R
Title of 12(b) Security	1.744% Notes due July 19, 2024*
Security Exchange Name	NYSE
F/24Q [Member]
Document Information [Line Items]
Trading Symbol	F/24Q
Title of 12(b) Security	3.683% Notes due on December 3, 2024*
Security Exchange Name	NYSE
F/25i [Member]
Document Information [Line Items]
Trading Symbol	F/25I
Title of 12(b) Security	1.355% Notes due February 7, 2025*
Security Exchange Name	NYSE
F/25K [Member]
Document Information [Line Items]
Trading Symbol	F/25K
Title of 12(b) Security	4.535% Notes due March 6, 2025*
Security Exchange Name	NYSE
F/25L [Member]
Document Information [Line Items]
Trading Symbol	F/25L
Title of 12(b) Security	2.330% Notes due on November 25, 2025*
Security Exchange Name	NYSE
F/30D
Document Information [Line Items]
Trading Symbol	F/30D
Title of 12(b) Security	4.445% Notes due February 14, 2030*
Security Exchange Name	NYSE
F/26AB [Member]
Document Information [Line Items]
Trading Symbol	F/26AB
Title of 12(b) Security	2.386% Notes due February 17, 2026*
Security Exchange Name	NYSE
F/29B
Document Information [Line Items]
Trading Symbol	F/29B
Title of 12(b) Security	5.125% Notes due February 20, 2029*
Security Exchange Name	NYSE
F/26A
Document Information [Line Items]
Trading Symbol	F/26A
Title of 12(b) Security	6.860% Notes due June 5, 2026*
Security Exchange Name	NYSE
F/28D
Document Information [Line Items]
Trading Symbol	F/28D
Title of 12(b) Security	5.625% Notes due October 9, 2028*
Security Exchange Name	NYSE
F/26N [Member]
Document Information [Line Items]
Trading Symbol	F/26N
Title of 12(b) Security	3.350% Notes due Nine Months or More from the Date of Issue due August 20, 2026
Security Exchange Name	NYSE
F/27A
Document Information [Line Items]
Trading Symbol	F/27A
Title of 12(b) Security	4.867% Notes due August 3, 2027*
Security Exchange Name	NYSE
F/28B
Document Information [Line Items]
Trading Symbol	F/28B
Title of 12(b) Security	6.125% Notes due May 15, 2028*
Security Exchange Name	NYSE

Consolidated Income Statement

Consolidated Income Statement - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Financing revenue
Retail financing	$ 1,291	$ 929
Dealer financing	696	504
Other	40	27
Revenue from Contract with Customer, Excluding Assessed Tax	3,044	2,509
Depreciation on vehicles subject to operating leases	(610)	(559)
Interest expense	(1,848)	(1,392)
Net financing margin	586	558
Other revenue
Premiums Earned, Net	36	26
Fee based revenue and other	26	21
Total financing margin and other revenue	648	605
Operating expenses	343	320
Financing Receivable, Credit Loss, Expense (Reversal)	88	77
Insurance expenses	30	5
Total expenses	461	402
Other Income / Loss	139	100
Income before income taxes	326	303
Provision for income taxes	92	63
Net income	234	240
Operating Lease, Lease Income	$ 1,017	$ 1,049

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net income	$ 234	$ 240
Other comprehensive income/(loss), net of tax
Comprehensive income / (loss)	114	328
Parent [Member]
Other comprehensive income/(loss), net of tax
Foreign currency translation	(120)	88
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax	$ 0	$ 0

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 8,848	$ 10,658
Marketable securities	714	789
Net Investment in Operating Leases	20,110	20,332
Finance receivables, net	115,364	112,823
Derivative financial instruments	812	818
Other assets	2,879	2,940
Total assets	149,709	149,205
Liabilities
Accounts Payable And Due To Affiliated Entities	1,880	1,592
Accounts Payable, Trade	931	899
Debt	129,258	129,287
Deferred income taxes	337	337
Derivative financial instruments	2,152	2,141
Other liabilities and deferred income	2,579	2,459
Total liabilities	136,206	135,816
Shareholder's Interest [Member]	5,166	5,166
Shareholder's interest
Accumulated other comprehensive income	(949)	(829)
Retained earnings	9,286	9,052
Stockholders' Equity Attributable to Parent	13,503	13,389
Total liabilities and shareholder's interest	149,709	149,205
Affiliated Entity
ASSETS
Accounts and Financing Receivable, after Allowance for Credit Loss	982	845
Liabilities
Accounts Payable	949	693
Variable Interest Entity, Primary Beneficiary [Member]
ASSETS
Cash and cash equivalents	2,909	2,298
Net Investment in Operating Leases	11,190	11,179
Finance receivables, net	56,523	56,131
Derivative financial instruments	75	90
Liabilities
Debt	45,716	48,177
Derivative financial instruments	18	45
Retail Installment loans, dealer financing, and other financing [Member]
ASSETS
Finance receivables, net	107,841	105,476
Loans and Finance Receivables [Member]
ASSETS
Finance receivables, net	7,523	7,347
Property Subject to Operating Lease [Member]
ASSETS
Net Investment in Operating Leases	$ 20,110	$ 20,332

Consolidated Balance Sheet (par

Consolidated Balance Sheet (parenthetical) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Financing Receivable, Allowance for Credit Loss	$ (880)	$ (882)	$ (870)	$ (845)

Consolidated Statement of Share

Consolidated Statement of Shareholder's Interest - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Shareholder's Interest [Roll Forward]
Balance at beginning of period	$ 13,389
Net income	234	$ 240
Balance at end of period	13,503
Shareholder's Interest [Member]
Shareholder's Interest [Roll Forward]
Balance at beginning of period	5,166	5,166
Net income	0	0
Other Comprehensive Income (Loss), Net of Tax	0	0
Distributions declared	0	0
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	(829)	(1,017)
Net income	0	0
Other Comprehensive Income (Loss), Net of Tax	(120)	88
Distributions declared	0	0
Balance at end of period	(949)	(929)
Retained Earnings [Member]
Shareholder's Interest [Roll Forward]
Balance at beginning of period	9,052	7,728
Other Comprehensive Income (Loss), Net of Tax	0	0
Distributions declared	0	0
Balance at end of period	9,286	7,968
Parent [Member]
Shareholder's Interest [Roll Forward]
Net income	234	240
Other Comprehensive Income (Loss), Net of Tax	(120)	88
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance		11,877
Distributions declared	0	0
Balance at end of period	$ 13,503
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance		$ 12,205

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities
Net Income	$ 234	$ 240
Financing Receivable, Credit Loss, Expense (Reversal)	88	77
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Depreciation Depletion and Amortizations	761	701
Amortization Of Upfront Interest Supplements	(540)	(407)
Net change in deferred income taxes	34	(3)
Net change in other assets	(93)	(38)
Net change in other liabilities	456	60
All other operating activities	18	(76)
Net Cash Provided by (Used in) Operating Activities	958	554
Cash flows from investing activities
Purchases of finance receivables	(11,146)	(9,899)
Principal collections of finance receivables	9,393	9,025
Purchases of operating lease vehicles	(2,456)	(1,990)
Proceeds From Liquidations of Operating Lease Vehicles	1,974	2,226
Net change in wholesale receivables and other	(1,135)	(661)
Purchases of marketable securities	(51)	(973)
Proceeds from sales and maturities of marketable securities	123	917
Settlements of derivatives	(207)	31
All other investing activities	(16)	(17)
Net Cash Provided by (Used in) Investing Activities	(3,521)	(1,341)
Cash flows from financing activities
Proceeds from issuances of long-term debt	16,488	13,912
Principal payments on long-term debt	(14,179)	(12,228)
Change in short-term debt, net	(1,416)	(1,966)
All other financing activities	(50)	(53)
Net Cash Provided by (Used in) Financing Activities	843	(335)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	(125)	50
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at January 1	10,795	10,520
Net increase/(decrease) in cash, cash equivalents, and restricted cash	(1,845)	(1,072)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at March 31	$ 8,950	$ 9,448

Presentation

Presentation	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Presentation	PRESENTATION Principles of Consolidation For purposes of this report, “Ford Credit,” the “Company,” “we,” “our,” “us,” or similar references mean Ford Motor Credit Company LLC, our consolidated subsidiaries, and our consolidated VIEs of which we are the primary beneficiary, unless the context requires otherwise. We are an indirect, wholly owned subsidiary of Ford Motor Company (“Ford”). Our consolidated financial statements are presented in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information, instructions to the Quarterly Report on Form 10-Q, and Rule 10-01 of Regulation S-X. We reclassified certain prior year amounts in our consolidated financial statements to conform to the current year presentation.

Accounting Policies

Accounting Policies	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Accounting Policies	ACCOUNTING POLICIES Adoption of New Accounting Standards We adopted the following Accounting Standard Updates (“ASUs”) during 2024, none of which had a material impact to our consolidated financial statements or financial statement disclosures: ASU Effective Date 2023-01 Leases: Common Control Arrangements January 1, 2024 2023-02 Investments – Equity Method and Joint Ventures - Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method January 1, 2024 Accounting Standards Issued But Not Yet Adopted ASU 2023-07, Segment Reporting, Improvements to Reportable Segment Disclosures. In November 2023, the Financial Accounting Standards Board (“FASB”) issued a new accounting standard which requires disclosure of significant segment expenses that are regularly provided to the chief operating decision maker for each reportable segment. In addition to significant segment expenses that are separately disclosed, the standard requires disclosure of an amount for “other segment items” by reportable segment and a description of its composition. The standard also requires all annual disclosures about a reporting segment’s profit or loss and assets to be provided on an interim basis. This new standard is effective for our 2024 annual financial statements and interim periods beginning in 2025. We are assessing the effect on our consolidated financial statement disclosures; however, adoption will not impact our consolidated balance sheets or income statements. ASU 2023-09, Improvements to Income Tax Disclosures . In December 2023, the FASB issued a new accounting standard to enhance the transparency and decision usefulness of income tax disclosures. The new standard is effective for annual periods beginning after December 15, 2024, with retrospective application permitted. There will be no impact to our consolidated balance sheets or income statements; however, there will be changes to our consolidated financial statement disclosures, primarily related to the effective tax rate reconciliation and the cash paid for income taxes. All other 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, 2024
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 $ 912 $ 86 United States government agencies 2 625 — Non-United States government and agencies 2 276 277 Corporate debt 2 101 — Total marketable securities classified as cash equivalents 1,914 363 Cash, time deposits, and money market funds 8,744 8,485 Total cash and cash equivalents $ 10,658 $ 8,848 Marketable securities United States government 1 $ 207 $ 219 United States government agencies 2 49 — Non-United States government and agencies 2 109 83 Corporate debt 2 268 261 Other marketable securities 2 156 151 Total marketable securities $ 789 $ 714 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 $ 10,658 $ 8,848 Restricted cash (a) 137 102 Total cash, cash equivalents, and restricted cash $ 10,795 $ 8,950 __________ (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, 2024
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 $ 73,943 $ 75,909 Finance leases, gross 7,793 7,999 Retail financing, gross 81,736 83,908 Unearned interest supplements from Ford and affiliated companies (3,344) (3,868) Consumer finance receivables 78,392 80,040 Non-Consumer Dealer financing 33,377 34,319 Other financing 1,936 1,885 Non-Consumer finance receivables 35,313 36,204 Total recorded investment $ 113,705 $ 116,244 Recorded investment in finance receivables $ 113,705 $ 116,244 Allowance for credit losses (882) (880) Total finance receivables, net $ 112,823 $ 115,364 Net finance receivables subject to fair value (a) $ 105,476 $ 107,841 Fair value (b) 103,937 106,494 __________ (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 2023 and 2024 was $83 million and $117 million, respectively, and is included in Retail financing on our consolidated income statements. At December 31, 2023 and March 31, 2024, accrued interest was $295 million and $288 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. NOTE 4. FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES ( Continued ) Credit Quality Consumer Portfolio. Credit quality ratings for consumer receivables are based on our aging analysis. Consumer receivables credit quality ratings are as follows: • Pass – current to 60 days past due; • Special Mention – 61 to 120 days past due and in intensified collection status; and • Substandard – greater than 120 days past due and for which the uncollectible portion of the receivables has already been charged off, as measured using the fair value of collateral less costs to sell. The credit quality analysis of consumer receivables at December 31, 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 $ 40 $ 49 $ 130 $ 125 $ 187 $ 159 $ 690 0.9 % 61-120 days past due 9 11 30 37 58 50 195 0.2 Greater than 120 days past due 7 4 7 10 10 5 43 0.1 Total past due 56 64 167 172 255 214 928 1.2 Current 891 2,360 7,395 11,325 20,281 35,212 77,464 98.8 Total $ 947 $ 2,424 $ 7,562 $ 11,497 $ 20,536 $ 35,426 $ 78,392 100.0 % Gross charge-offs $ 47 $ 40 $ 75 $ 85 $ 117 $ 37 $ 401 The credit quality analysis of consumer receivables at March 31, 2024 was as follows (in millions): Amortized Cost Basis by Origination Year Prior to 2020 2020 2021 2022 2023 2024 Total Percent Consumer 31-60 days past due $ 63 $ 98 $ 103 $ 164 $ 172 $ 12 $ 612 0.8 % 61-120 days past due 13 21 27 46 54 2 163 0.2 Greater than 120 days past due 10 8 9 14 8 — 49 — Total past due 86 127 139 224 234 14 824 1.0 Current 2,393 6,122 9,690 18,203 32,621 10,187 79,216 99.0 Total $ 2,479 $ 6,249 $ 9,829 $ 18,427 $ 32,855 $ 10,201 $ 80,040 100.0 % Gross charge-offs $ 15 $ 17 $ 22 $ 39 $ 36 $ — $ 129 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. NOTE 4. FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES ( Continued ) The credit quality analysis of dealer financing receivables at December 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 $ 383 $ 30 $ 58 $ 156 $ 61 $ 349 $ 1,037 $ 29,095 $ 30,132 90.3 % Group II 16 — 1 3 2 44 66 2,834 2,900 8.7 Group III — — — — 1 8 9 292 301 0.9 Group IV — 1 — — — 2 3 41 44 0.1 Total (a) $ 399 $ 31 $ 59 $ 159 $ 64 $ 403 $ 1,115 $ 32,262 $ 33,377 100.0 % Gross charge-offs $ — $ — $ — $ — $ — $ 1 $ 1 $ 3 $ 4 __________ (a) Total past due dealer financing receivables at December 31, 2023 were $33 million. The credit quality analysis of dealer financing receivables at March 31, 2024 was as follows (in millions): Amortized Cost Basis by Origination Year Dealer Loans Prior to 2020 2020 2021 2022 2023 2024 Total Wholesale Loans Total Percent Group I $ 299 $ 60 $ 111 $ 61 $ 268 $ 150 $ 949 $ 30,180 $ 31,129 90.7 % Group II 16 — 4 2 4 26 52 2,859 2,911 8.5 Group III — — — — — 7 7 240 247 0.7 Group IV 1 — — — 1 — 2 30 32 0.1 Total (a) $ 316 $ 60 $ 115 $ 63 $ 273 $ 183 $ 1,010 $ 33,309 $ 34,319 100.0 % Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — __________ (a) Total past due dealer financing receivables at March 31, 2024 were $19 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. NOTE 4. FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES ( Continued ) 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, 2024, 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 credit losses on our consolidated income statements. The uncollectible portion of a finance receivable is charged to the allowance for credit losses at the earlier of when an account is deemed to be uncollectible or when an account is 120 days delinquent, taking into consideration the financial condition of the customer or borrower, the value of the collateral, recourse to guarantors, and other factors. Charge-offs on finance receivables include uncollected amounts related to principal, interest, late fees, and other allowable charges. Recoveries on finance receivables previously charged off as uncollectible are credited to the allowance for credit losses. In the event we repossess the collateral, the receivable is charged off and the collateral is recorded at its estimated fair value less costs to sell and reported in Other assets on our consolidated balance sheets. An analysis of the allowance for credit losses related to finance receivables for the periods ended March 31 was as follows (in millions): First Quarter 2023 First Quarter 2024 Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 838 $ 7 $ 845 $ 879 $ 3 $ 882 Charge-offs (96) — (96) (129) — (129) Recoveries 38 1 39 39 3 42 Provision for credit losses 78 (1) 77 91 (3) 88 Other (a) 5 — 5 (3) — (3) Ending balance $ 863 $ 7 $ 870 $ 877 $ 3 $ 880 __________ (a) Primarily represents amounts related to translation adjustments. During the first quarter of 2024, the allowance for credit losses decreased $2 million, driven by the impact of improvement in our U.S. macroeconomic outlook assumptions, offset partially by an increase in finance receivables. Net charge-offs increased from a year ago, reflecting continuing normalization from lower levels following the COVID-19 pandemic. While credit performance has remained strong, high inflationary pressure and high interest rates have caused economic uncertainty, which we expect will have an unfavorable impact on our future consumer credit losses. 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, 2024
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) $ 24,182 $ 23,907 Accumulated depreciation (3,850) (3,797) Net investment in operating leases $ 20,332 $ 20,110 __________ (a)

Transfers of Receivables

Transfers of Receivables	3 Months Ended
	Mar. 31, 2024
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 hold the right to receive the excess cash flows not needed to pay the debt issued by, and other obligations of, the securitization entities that are parties to those securitization transactions. 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. NOTE 6. TRANSFERS OF RECEIVABLES AND VARIABLE INTEREST ENTITIES (Continued) We have no obligation to repurchase or replace any securitized asset that subsequently becomes delinquent in payment or otherwise is in default, except when representations and warranties about the eligibility of the securitized assets are breached, or when certain changes are made to the underlying asset contracts. Securitization investors have no recourse to us or our other assets other than as provided above and have no right to require us to repurchase the asset-backed securities. 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. 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, 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 $ 1.6 $ 35.7 $ (0.4) $ 35.3 $ 29.1 Wholesale financing 0.2 20.8 — 20.8 11.6 Finance receivables 1.8 56.5 (0.4) 56.1 40.7 Net investment in operating leases 0.5 11.2 — 11.2 7.5 Total VIE $ 2.3 $ 67.7 $ (0.4) $ 67.3 $ 48.2 Non-VIE Retail financing $ 0.4 $ 10.3 $ (0.1) $ 10.2 $ 9.4 Wholesale financing — 0.5 — 0.5 0.4 Finance receivables 0.4 10.8 (0.1) 10.7 9.8 Net investment in operating leases — — — — — Total Non-VIE $ 0.4 $ 10.8 $ (0.1) $ 10.7 $ 9.8 Total securitization transactions Retail financing $ 2.0 $ 46.0 $ (0.5) $ 45.5 $ 38.5 Wholesale financing 0.2 21.3 — 21.3 12.0 Finance receivables 2.2 67.3 (0.5) 66.8 50.5 Net investment in operating leases 0.5 11.2 — 11.2 7.5 Total securitization transactions $ 2.7 $ 78.5 $ (0.5) $ 78.0 $ 58.0 __________ (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 costs. NOTE 6. TRANSFERS OF RECEIVABLES AND VARIABLE INTEREST ENTITIES (Continued) March 31, 2024 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 $ 1.6 $ 35.2 $ (0.3) $ 34.9 $ 29.1 Wholesale financing 0.8 21.6 — 21.6 8.9 Finance receivables 2.4 56.8 (0.3) 56.5 38.0 Net investment in operating leases 0.5 11.2 — 11.2 7.7 Total VIE $ 2.9 $ 68.0 $ (0.3) $ 67.7 $ 45.7 Non-VIE Retail financing $ 0.4 $ 9.8 $ (0.1) $ 9.7 $ 9.0 Wholesale financing — 0.4 — 0.4 0.2 Finance receivables 0.4 10.2 (0.1) 10.1 9.2 Net investment in operating leases — — — — — Total Non-VIE $ 0.4 $ 10.2 $ (0.1) $ 10.1 $ 9.2 Total securitization transactions Retail financing $ 2.0 $ 45.0 $ (0.4) $ 44.6 $ 38.1 Wholesale financing 0.8 22.0 — 22.0 9.1 Finance receivables 2.8 67.0 (0.4) 66.6 47.2 Net investment in operating leases 0.5 11.2 — 11.2 7.7 Total securitization transactions $ 3.3 $ 78.2 $ (0.4) $ 77.8 $ 54.9 __________ (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, 2024
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 2023 2024 Fair value hedges Interest rate contracts Net interest settlements and accruals on hedging instruments $ (140) $ (96) Fair value changes on hedging instruments 250 (243) Fair value changes on hedged debt (279) 220 Cross-currency interest rate swap contracts Net interest settlements and accruals on hedging instruments (14) (29) Fair value changes on hedging instruments 22 (64) Fair value changes on hedged debt (19) 62 Derivatives not designated as hedging instruments Interest rate contracts (12) 48 Foreign currency exchange contracts (a) (22) 92 Cross-currency interest rate swap contracts 85 (166) Total $ (129) $ (176) __________ (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, 2023 March 31, 2024 Notional Fair Value of Assets Fair Value of Liabilities Notional Fair Value of Assets Fair Value of Liabilities Fair value hedges Interest rate contracts $ 12,119 $ 106 $ 633 $ 16,307 $ 84 $ 769 Cross-currency interest rate swap contracts 2,078 69 104 3,155 41 115 Derivatives not designated as hedging instruments Interest rate contracts 73,134 465 1,036 73,109 489 928 Foreign currency exchange contracts (a) 10,276 59 116 10,955 99 49 Cross-currency interest rate swap contracts 7,100 119 252 6,529 99 291 Total derivative financial instruments, gross (b) (c) $ 104,707 $ 818 $ 2,141 $ 110,055 $ 812 $ 2,152 __________ (a) Includes forward contracts between us and an affiliated company, including offsetting forward contracts with our consolidated entities, totaling $7.3 billion in notional amounts and $46 million in both assets and liabilities at March 31, 2024. (b) At December 31, 2023 and March 31, 2024, we held collateral of $40 million and $33 million, respectively, and we posted collateral of $126 million and $108 million, respectively. (c)

Other Assets and Other Liabilit

Other Assets and Other Liabilities and Deferred Income	3 Months Ended
	Mar. 31, 2024
Other Assets and Other Liabilities and Deferred Income [Abstract]
OTHER ASSETS AND OTHER LIABILITIES AND DEFERRED INCOME	OTHER ASSETS AND OTHER LIABILITIES Other assets and Other liabilities 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 $ 818 $ 828 Accrued interest and other non-finance receivables 677 671 Collateral held for resale, at net realizable value 426 390 Property and equipment, net of accumulated depreciation (a) 270 279 Investment in non-consolidated affiliates 167 174 Deferred charges - income taxes 190 163 Restricted cash 137 102 Operating lease assets 53 48 Other 202 224 Total other assets $ 2,940 $ 2,879 __________ (a) Accumulated depreciation was $453 million and $462 million at December 31, 2023 and March 31, 2024, respectively. Other liabilities were as follows (in millions): December 31, March 31, Interest payable $ 963 $ 1,068 Unearned insurance premiums and fees 930 939 Income tax and related interest (a) 186 193 Payroll and employee benefits 96 85 Operating lease liabilities 55 50 Other 229 244 Total other liabilities $ 2,459 $ 2,579 __________ (a) Includes income tax and interest payable to affiliated companies of $62 million and $32 million at December 31, 2023 and March 31, 2024, respectively.

Debt

Debt	3 Months Ended
	Mar. 31, 2024
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, 2023 2024 2023 2024 Short-term debt Unsecured debt Floating rate demand notes $ 10,907 $ 11,009 Other short-term debt 4,593 4,211 Asset-backed debt (a) 3,158 1,921 Total short-term debt 18,658 17,141 5.3 % 5.2 % 5.3 % 5.2 % Long-term debt Unsecured debt Notes payable within one year 11,755 10,917 Notes payable after one year 45,435 49,842 Asset-backed debt (a) Notes payable within one year 18,851 21,120 Notes payable after one year 36,074 31,910 Unamortized (discount)/premium 9 — Unamortized issuance costs (237) (254) Fair value adjustments (b) (1,258) (1,418) Total long-term debt 110,629 112,117 4.7 % 4.8 % 4.7 % 4.8 % Total debt $ 129,287 $ 129,258 4.8 % 4.9 % 4.8 % 4.9 % Fair value of debt (c) $ 130,533 $ 130,954 __________ (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 $(681) million and $(607) million at December 31, 2023 and March 31, 2024, respectively. The carrying value of hedged debt was $38.7 billion and $40.3 billion at December 31, 2023 and March 31, 2024, respectively. (c)

Other Income, Net

Other Income, Net	3 Months Ended
	Mar. 31, 2024
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 2023 2024 Interest and investment income $ 135 $ 142 Gains/(losses) on derivatives 68 (75) Currency revaluation gains/(losses) (109) 70 Other 6 2 Total other income/(loss), net $ 100 $ 139

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2024
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 our operations in China, Mexico, and our joint venture in South Africa, as well as wind down activities in Brazil, Argentina, and India. 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. 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 Total 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 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 First Quarter 2024 Total revenue $ 2,616 $ 371 $ 119 $ 3,106 $ — $ 3,106 Income before income taxes 263 72 20 355 (29) 326 Depreciation on vehicles subject to operating leases 603 7 — 610 — 610 Interest expense 1,460 221 69 1,750 98 1,848 Provision for credit losses 70 7 11 88 — 88 Net finance receivables and net investment in operating leases 110,674 19,981 4,819 135,474 — 135,474 Total assets 120,368 23,991 5,350 149,709 — 149,709

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income	$ 234	$ 240

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Accounting Policies (Policies)

Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Basis of Accounting and Intercompany Transactions [Abstract]
Basis of Accounting and Intercompany Transactions [Policy Text Block]	For purposes of this report, “Ford Credit,” the “Company,” “we,” “our,” “us,” or similar references mean Ford Motor Credit Company LLC, our consolidated subsidiaries, and our consolidated VIEs of which we are the primary beneficiary, unless the context requires otherwise. We are an indirect, wholly owned subsidiary of Ford Motor Company (“Ford”). Our consolidated financial statements are presented in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information, instructions to the Quarterly Report on Form 10-Q, and Rule 10-01 of Regulation S-X. We reclassified certain prior year amounts in our consolidated financial statements to conform to the current year presentation.
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. NOTE 4. FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES ( Continued ) 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, 2024, 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 credit losses on our consolidated income statements. The uncollectible portion of a finance receivable is charged to the allowance for credit losses at the earlier of when an account is deemed to be uncollectible or when an account is 120 days delinquent, taking into consideration the financial condition of the customer or borrower, the value of the collateral, recourse to guarantors, and other factors. Charge-offs on finance receivables include uncollected amounts related to principal, interest, late fees, and other allowable charges. Recoveries on finance receivables previously charged off as uncollectible are credited to the allowance for credit losses. In the event we repossess the collateral, the receivable is charged off and the collateral is recorded at its estimated fair value less costs to sell and reported in Other assets on our consolidated balance sheets.
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. 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, 2024
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 $ 912 $ 86 United States government agencies 2 625 — Non-United States government and agencies 2 276 277 Corporate debt 2 101 — Total marketable securities classified as cash equivalents 1,914 363 Cash, time deposits, and money market funds 8,744 8,485 Total cash and cash equivalents $ 10,658 $ 8,848 Marketable securities United States government 1 $ 207 $ 219 United States government agencies 2 49 — Non-United States government and agencies 2 109 83 Corporate debt 2 268 261 Other marketable securities 2 156 151 Total marketable securities $ 789 $ 714
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 $ 10,658 $ 8,848 Restricted cash (a) 137 102 Total cash, cash equivalents, and restricted cash $ 10,795 $ 8,950 __________ (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, 2024
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 2023 First Quarter 2024 Consumer Non-Consumer Total Consumer Non-Consumer Total Allowance for credit losses Beginning balance $ 838 $ 7 $ 845 $ 879 $ 3 $ 882 Charge-offs (96) — (96) (129) — (129) Recoveries 38 1 39 39 3 42 Provision for credit losses 78 (1) 77 91 (3) 88 Other (a) 5 — 5 (3) — (3) Ending balance $ 863 $ 7 $ 870 $ 877 $ 3 $ 880 __________ (a)
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 $ 73,943 $ 75,909 Finance leases, gross 7,793 7,999 Retail financing, gross 81,736 83,908 Unearned interest supplements from Ford and affiliated companies (3,344) (3,868) Consumer finance receivables 78,392 80,040 Non-Consumer Dealer financing 33,377 34,319 Other financing 1,936 1,885 Non-Consumer finance receivables 35,313 36,204 Total recorded investment $ 113,705 $ 116,244 Recorded investment in finance receivables $ 113,705 $ 116,244 Allowance for credit losses (882) (880) Total finance receivables, net $ 112,823 $ 115,364 Net finance receivables subject to fair value (a) $ 105,476 $ 107,841 Fair value (b) 103,937 106,494 __________ (a) Net finance receivables subject to fair value exclude finance leases. (b)
Financing Receivable, Past Due [Table Text Block]	The credit quality analysis of consumer receivables at December 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 $ 40 $ 49 $ 130 $ 125 $ 187 $ 159 $ 690 0.9 % 61-120 days past due 9 11 30 37 58 50 195 0.2 Greater than 120 days past due 7 4 7 10 10 5 43 0.1 Total past due 56 64 167 172 255 214 928 1.2 Current 891 2,360 7,395 11,325 20,281 35,212 77,464 98.8 Total $ 947 $ 2,424 $ 7,562 $ 11,497 $ 20,536 $ 35,426 $ 78,392 100.0 % Gross charge-offs $ 47 $ 40 $ 75 $ 85 $ 117 $ 37 $ 401 The credit quality analysis of consumer receivables at March 31, 2024 was as follows (in millions): Amortized Cost Basis by Origination Year Prior to 2020 2020 2021 2022 2023 2024 Total Percent Consumer 31-60 days past due $ 63 $ 98 $ 103 $ 164 $ 172 $ 12 $ 612 0.8 % 61-120 days past due 13 21 27 46 54 2 163 0.2 Greater than 120 days past due 10 8 9 14 8 — 49 — Total past due 86 127 139 224 234 14 824 1.0 Current 2,393 6,122 9,690 18,203 32,621 10,187 79,216 99.0 Total $ 2,479 $ 6,249 $ 9,829 $ 18,427 $ 32,855 $ 10,201 $ 80,040 100.0 % Gross charge-offs $ 15 $ 17 $ 22 $ 39 $ 36 $ — $ 129
Financing Receivables Credit Quality Indicators [Table Text Block]	The credit quality analysis of dealer financing receivables at December 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 $ 383 $ 30 $ 58 $ 156 $ 61 $ 349 $ 1,037 $ 29,095 $ 30,132 90.3 % Group II 16 — 1 3 2 44 66 2,834 2,900 8.7 Group III — — — — 1 8 9 292 301 0.9 Group IV — 1 — — — 2 3 41 44 0.1 Total (a) $ 399 $ 31 $ 59 $ 159 $ 64 $ 403 $ 1,115 $ 32,262 $ 33,377 100.0 % Gross charge-offs $ — $ — $ — $ — $ — $ 1 $ 1 $ 3 $ 4 __________ (a) Total past due dealer financing receivables at December 31, 2023 were $33 million. The credit quality analysis of dealer financing receivables at March 31, 2024 was as follows (in millions): Amortized Cost Basis by Origination Year Dealer Loans Prior to 2020 2020 2021 2022 2023 2024 Total Wholesale Loans Total Percent Group I $ 299 $ 60 $ 111 $ 61 $ 268 $ 150 $ 949 $ 30,180 $ 31,129 90.7 % Group II 16 — 4 2 4 26 52 2,859 2,911 8.5 Group III — — — — — 7 7 240 247 0.7 Group IV 1 — — — 1 — 2 30 32 0.1 Total (a) $ 316 $ 60 $ 115 $ 63 $ 273 $ 183 $ 1,010 $ 33,309 $ 34,319 100.0 % Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — __________ (a)

Net Investment in Operating Lea

Net Investment in Operating Leases (Tables)	3 Months Ended
	Mar. 31, 2024
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) $ 24,182 $ 23,907 Accumulated depreciation (3,850) (3,797) Net investment in operating leases $ 20,332 $ 20,110 __________ (a)

Transfers of Receivables (Table

Transfers of Receivables (Tables)	3 Months Ended
	Mar. 31, 2024
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, 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 $ 1.6 $ 35.7 $ (0.4) $ 35.3 $ 29.1 Wholesale financing 0.2 20.8 — 20.8 11.6 Finance receivables 1.8 56.5 (0.4) 56.1 40.7 Net investment in operating leases 0.5 11.2 — 11.2 7.5 Total VIE $ 2.3 $ 67.7 $ (0.4) $ 67.3 $ 48.2 Non-VIE Retail financing $ 0.4 $ 10.3 $ (0.1) $ 10.2 $ 9.4 Wholesale financing — 0.5 — 0.5 0.4 Finance receivables 0.4 10.8 (0.1) 10.7 9.8 Net investment in operating leases — — — — — Total Non-VIE $ 0.4 $ 10.8 $ (0.1) $ 10.7 $ 9.8 Total securitization transactions Retail financing $ 2.0 $ 46.0 $ (0.5) $ 45.5 $ 38.5 Wholesale financing 0.2 21.3 — 21.3 12.0 Finance receivables 2.2 67.3 (0.5) 66.8 50.5 Net investment in operating leases 0.5 11.2 — 11.2 7.5 Total securitization transactions $ 2.7 $ 78.5 $ (0.5) $ 78.0 $ 58.0 __________ (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 costs. NOTE 6. TRANSFERS OF RECEIVABLES AND VARIABLE INTEREST ENTITIES (Continued) March 31, 2024 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 $ 1.6 $ 35.2 $ (0.3) $ 34.9 $ 29.1 Wholesale financing 0.8 21.6 — 21.6 8.9 Finance receivables 2.4 56.8 (0.3) 56.5 38.0 Net investment in operating leases 0.5 11.2 — 11.2 7.7 Total VIE $ 2.9 $ 68.0 $ (0.3) $ 67.7 $ 45.7 Non-VIE Retail financing $ 0.4 $ 9.8 $ (0.1) $ 9.7 $ 9.0 Wholesale financing — 0.4 — 0.4 0.2 Finance receivables 0.4 10.2 (0.1) 10.1 9.2 Net investment in operating leases — — — — — Total Non-VIE $ 0.4 $ 10.2 $ (0.1) $ 10.1 $ 9.2 Total securitization transactions Retail financing $ 2.0 $ 45.0 $ (0.4) $ 44.6 $ 38.1 Wholesale financing 0.8 22.0 — 22.0 9.1 Finance receivables 2.8 67.0 (0.4) 66.6 47.2 Net investment in operating leases 0.5 11.2 — 11.2 7.7 Total securitization transactions $ 3.3 $ 78.2 $ (0.4) $ 77.8 $ 54.9 __________ (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, 2024
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 2023 2024 Fair value hedges Interest rate contracts Net interest settlements and accruals on hedging instruments $ (140) $ (96) Fair value changes on hedging instruments 250 (243) Fair value changes on hedged debt (279) 220 Cross-currency interest rate swap contracts Net interest settlements and accruals on hedging instruments (14) (29) Fair value changes on hedging instruments 22 (64) Fair value changes on hedged debt (19) 62 Derivatives not designated as hedging instruments Interest rate contracts (12) 48 Foreign currency exchange contracts (a) (22) 92 Cross-currency interest rate swap contracts 85 (166) Total $ (129) $ (176) __________ (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, 2023 March 31, 2024 Notional Fair Value of Assets Fair Value of Liabilities Notional Fair Value of Assets Fair Value of Liabilities Fair value hedges Interest rate contracts $ 12,119 $ 106 $ 633 $ 16,307 $ 84 $ 769 Cross-currency interest rate swap contracts 2,078 69 104 3,155 41 115 Derivatives not designated as hedging instruments Interest rate contracts 73,134 465 1,036 73,109 489 928 Foreign currency exchange contracts (a) 10,276 59 116 10,955 99 49 Cross-currency interest rate swap contracts 7,100 119 252 6,529 99 291 Total derivative financial instruments, gross (b) (c) $ 104,707 $ 818 $ 2,141 $ 110,055 $ 812 $ 2,152 __________ (a) Includes forward contracts between us and an affiliated company, including offsetting forward contracts with our consolidated entities, totaling $7.3 billion in notional amounts and $46 million in both assets and liabilities at March 31, 2024. (b) At December 31, 2023 and March 31, 2024, we held collateral of $40 million and $33 million, respectively, and we posted collateral of $126 million and $108 million, respectively. (c)

Other Assets and Other Liabil_2

Other Assets and Other Liabilities and Deferred Income (Tables)	3 Months Ended
	Mar. 31, 2024
Other Assets and Other Liabilities and Deferred Income [Abstract]
Schedule of Other Assets and Other Liabilities [Table Text Block]	Other assets and Other liabilities 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 $ 818 $ 828 Accrued interest and other non-finance receivables 677 671 Collateral held for resale, at net realizable value 426 390 Property and equipment, net of accumulated depreciation (a) 270 279 Investment in non-consolidated affiliates 167 174 Deferred charges - income taxes 190 163 Restricted cash 137 102 Operating lease assets 53 48 Other 202 224 Total other assets $ 2,940 $ 2,879 __________ (a) Accumulated depreciation was $453 million and $462 million at December 31, 2023 and March 31, 2024, respectively. Other liabilities were as follows (in millions): December 31, March 31, Interest payable $ 963 $ 1,068 Unearned insurance premiums and fees 930 939 Income tax and related interest (a) 186 193 Payroll and employee benefits 96 85 Operating lease liabilities 55 50 Other 229 244 Total other liabilities $ 2,459 $ 2,579 __________ (a) Includes income tax and interest payable to affiliated companies of $62 million and $32 million at December 31, 2023 and March 31, 2024, respectively.

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2024
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, 2023 2024 2023 2024 Short-term debt Unsecured debt Floating rate demand notes $ 10,907 $ 11,009 Other short-term debt 4,593 4,211 Asset-backed debt (a) 3,158 1,921 Total short-term debt 18,658 17,141 5.3 % 5.2 % 5.3 % 5.2 % Long-term debt Unsecured debt Notes payable within one year 11,755 10,917 Notes payable after one year 45,435 49,842 Asset-backed debt (a) Notes payable within one year 18,851 21,120 Notes payable after one year 36,074 31,910 Unamortized (discount)/premium 9 — Unamortized issuance costs (237) (254) Fair value adjustments (b) (1,258) (1,418) Total long-term debt 110,629 112,117 4.7 % 4.8 % 4.7 % 4.8 % Total debt $ 129,287 $ 129,258 4.8 % 4.9 % 4.8 % 4.9 % Fair value of debt (c) $ 130,533 $ 130,954 __________ (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 $(681) million and $(607) million at December 31, 2023 and March 31, 2024, respectively. The carrying value of hedged debt was $38.7 billion and $40.3 billion at December 31, 2023 and March 31, 2024, respectively. (c)

Other Income, Net (Tables)

Other Income, Net (Tables)	3 Months Ended
	Mar. 31, 2024
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 2023 2024 Interest and investment income $ 135 $ 142 Gains/(losses) on derivatives 68 (75) Currency revaluation gains/(losses) (109) 70 Other 6 2 Total other income/(loss), net $ 100 $ 139

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2024
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 Total 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 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 First Quarter 2024 Total revenue $ 2,616 $ 371 $ 119 $ 3,106 $ — $ 3,106 Income before income taxes 263 72 20 355 (29) 326 Depreciation on vehicles subject to operating leases 603 7 — 610 — 610 Interest expense 1,460 221 69 1,750 98 1,848 Provision for credit losses 70 7 11 88 — 88 Net finance receivables and net investment in operating leases 110,674 19,981 4,819 135,474 — 135,474 Total assets 120,368 23,991 5,350 149,709 — 149,709

Cash, Cash Equivalents, and M_2

Cash, Cash Equivalents, and Marketable Securities (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash, Cash Equivalents, and Short-term Investments	$ 8,485	$ 8,744
Total cash and cash equivalents	8,848	10,658
Restricted Cash	102	137
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	8,950	10,795	$ 9,448	$ 10,520
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash and cash equivalents	363	1,914
Fair Value, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities	714	789
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	86	912
Marketable securities	219	207
US Government Agencies [Member] | Fair Value, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash and cash equivalents	0	625
Marketable securities	0	49
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	277	276
Marketable securities	83	109
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	0	101
Marketable securities	261	268
Other Debt Obligations [Member] | Fair Value, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Marketable securities	$ 151	$ 156

Finance Receivables Net (Detail

Finance Receivables Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Sales Type and Direct Financing Lease Revenue	$ 117		$ 83
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	116,244	$ 113,705
Financing Receivable, Allowance for Credit Loss	(880)	(882)	(870)	$ (845)
Finance leases, net	$ 115,364	112,823
Financing Receivable, Threshold Period Past Due	31 days
Interest Receivable	$ 288	295
Consumer Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	80,040	78,392
Financing Receivable, Allowance for Credit Loss, Writeoff	129	401
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff	0	37
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff	36	117
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff	39	85
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff	22	75
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff	17	40
Financing Receivable, Allowance for Credit Loss	(877)	(879)	(863)	(838)
Financing Receivable, Originated, More Than Five Years before Current Fiscal Year, Writeoff	15	47
Non-Consumer Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	36,204	35,313
Financing Receivable, Revolving, Writeoff	0	3
Financing Receivable, Allowance for Credit Loss	(3)	(3)	$ (7)	$ (7)
Retail Installment Loans [Member] | Consumer Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	75,909	73,943
Retail [Member] | Consumer Segment [Member]
Net Finance Receivables [Abstract]
Unearned interest supplements from Ford and affiliated companies	(3,868)	(3,344)
Financing Receivable, before Allowance for Credit Loss	80,040	78,392
Finance Receivable Before Unearned Interest Supplements	83,908	81,736
Finance leases [Member]
Net Finance Receivables [Abstract]
Finance leases, net	7,523	7,347
Finance leases [Member] | Consumer Segment [Member]
Net Finance Receivables [Abstract]
Sales-type and Direct Financing Leases, Lease Receivable	7,999	7,793
Wholesale and Dealer Loans [Member] | Non-Consumer Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	34,319	33,377
Financing Receivable, Allowance for Credit Loss, Writeoff	0	4
Other Finance Receivables [Member] | Non-Consumer Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivable, before Allowance for Credit Loss	1,885	1,936
Retail Installment loans, dealer financing, and other financing [Member]
Net Finance Receivables [Abstract]
Finance leases, net	107,841	105,476
Dealer Loans | Non-Consumer Segment [Member]
Net Finance Receivables [Abstract]
Financing Receivable, Allowance for Credit Loss, Writeoff	0	1
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff	0	1
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff	0	0
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff	0	0
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff	0	0
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff	0	0
Financing Receivable, Originated, More Than Five Years before Current Fiscal Year, Writeoff	0	0
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Net Finance Receivables [Abstract]
Finance leases, net	107,841	105,476
Fair value (b)	$ 106,494	$ 103,937

Finance Receivables - Credit Qu

Finance Receivables - Credit Quality and Impaired Receivables (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Non-Accrual of Revenue	90
Financing Receivables	$ 116,244,000,000	$ 113,705,000,000
Wholesale and Dealer Loans [Member] | Financing Receivable [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	19,000,000	33,000,000
Commercial Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	36,204,000,000	35,313,000,000
Financing Receivable, Revolving	33,309,000,000	32,262,000,000
Financing Receivable, Revolving, Writeoff	0	3,000,000
Commercial Portfolio Segment [Member] | Group I
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	31,129,000,000	30,132,000,000
Financing Receivable, Revolving	30,180,000,000	29,095,000,000
Commercial Portfolio Segment [Member] | Group I | Percent of Total
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	0.907	0.903
Commercial Portfolio Segment [Member] | Group II
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	2,911,000,000	2,900,000,000
Financing Receivable, Revolving	2,859,000,000	2,834,000,000
Commercial Portfolio Segment [Member] | Group II | Percent of Total
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	0.085	0.087
Commercial Portfolio Segment [Member] | Group III
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	247,000,000	301,000,000
Financing Receivable, Revolving	240,000,000	292,000,000
Commercial Portfolio Segment [Member] | Group III | Percent of Total
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	0.007	0.009
Commercial Portfolio Segment [Member] | Group IV
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	32,000,000	44,000,000
Financing Receivable, Revolving	30,000,000	41,000,000
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	316,000,000	399,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	60,000,000	31,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	115,000,000	59,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	63,000,000	159,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	273,000,000	64,000,000
Financing Receivable, Originated in Current Fiscal Year	183,000,000	403,000,000
Financing Receivable Originations Total	1,010,000,000	1,115,000,000
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	299,000,000	383,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	60,000,000	30,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	111,000,000	58,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	61,000,000	156,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	268,000,000	61,000,000
Financing Receivable, Originated in Current Fiscal Year	150,000,000	349,000,000
Financing Receivable Originations Total	949,000,000	1,037,000,000
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	16,000,000	16,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	0	0
Financing Receivable, Originated Three Years before Latest Fiscal Year	4,000,000	1,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	2,000,000	3,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	4,000,000	2,000,000
Financing Receivable, Originated in Current Fiscal Year	26,000,000	44,000,000
Financing Receivable Originations Total	52,000,000	66,000,000
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	1,000,000
Financing Receivable, Originated in Current Fiscal Year	7,000,000	8,000,000
Financing Receivable Originations Total	7,000,000	9,000,000
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	1,000,000	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0	1,000,000
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	1,000,000	0
Financing Receivable, Originated in Current Fiscal Year	0	2,000,000
Financing Receivable Originations Total	2,000,000	3,000,000
Commercial Portfolio Segment [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	34,319,000,000	33,377,000,000
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	34,319,000,000	33,377,000,000
Financing Receivable, Allowance for Credit Loss, Writeoff	0	4,000,000
Commercial Portfolio Segment [Member] | Dealer Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Allowance for Credit Loss, Writeoff	0	1,000,000
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff	0	1,000,000
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff	0	0
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff	0	0
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff	0	0
Financing Receivable, Originated, More Than Five Years before Current Fiscal Year, Writeoff	0	0
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff	0	0
Consumer Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	80,040,000,000	78,392,000,000
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	2,479,000,000	947,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	6,249,000,000	2,424,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	9,829,000,000	7,562,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	18,427,000,000	11,497,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	32,855,000,000	20,536,000,000
Financing Receivable, Originated in Current Fiscal Year	10,201,000,000	35,426,000,000
Financing Receivable, Allowance for Credit Loss, Writeoff	129,000,000	401,000,000
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff	0	37,000,000
Financing Receivable, Year Three, Originated, Two Years Before Current Fiscal Year, Writeoff	39,000,000	85,000,000
Financing Receivable, Year Four, Originated, Three Years Before Current Fiscal Year, Writeoff	22,000,000	75,000,000
Financing Receivable, Year Five, Originated, Four Years Before Current Fiscal Year, Writeoff	17,000,000	40,000,000
Financing Receivable, Originated, More Than Five Years before Current Fiscal Year, Writeoff	15,000,000	47,000,000
Financing Receivable, Year Two, Originated, Fiscal Year Before Current Fiscal Year, Writeoff	36,000,000	117,000,000
Consumer Portfolio Segment [Member] | Financing Receivables, 31-60 Days Past Due [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	612,000,000	690,000,000
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	63,000,000	40,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	98,000,000	49,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	103,000,000	130,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	164,000,000	125,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	172,000,000	187,000,000
Financing Receivable, Originated in Current Fiscal Year	12,000,000	159,000,000
Consumer Portfolio Segment [Member] | Financing Receivables, 61-120 Days past due [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	163,000,000	195,000,000
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	13,000,000	9,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	21,000,000	11,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	27,000,000	30,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	46,000,000	37,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	54,000,000	58,000,000
Financing Receivable, Originated in Current Fiscal Year	2,000,000	50,000,000
Consumer Portfolio Segment [Member] | Financing Receivables, Greater Than 120 Days Past Due [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	49,000,000	43,000,000
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	10,000,000	7,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	8,000,000	4,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	9,000,000	7,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	14,000,000	10,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	8,000,000	10,000,000
Financing Receivable, Originated in Current Fiscal Year	0	5,000,000
Consumer Portfolio Segment [Member] | Total past due [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	824,000,000	928,000,000
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	86,000,000	56,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	127,000,000	64,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	139,000,000	167,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	224,000,000	172,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	234,000,000	255,000,000
Financing Receivable, Originated in Current Fiscal Year	14,000,000	214,000,000
Consumer Portfolio Segment [Member] | Financial Asset, 1 to 29 Days Past Due [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivables	79,216,000,000	77,464,000,000
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	2,393,000,000	891,000,000
Financing Receivable, Originated Four Years before Latest Fiscal Year	6,122,000,000	2,360,000,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	9,690,000,000	7,395,000,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	18,203,000,000	11,325,000,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	32,621,000,000	20,281,000,000
Financing Receivable, Originated in Current Fiscal Year	10,187,000,000	35,212,000,000
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, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Allowance for Credit Losses [Line Items]
Financing Receivable, Allowance for Credit Loss	$ 880	$ 870	$ 882	$ 845
Finance receivables, net	115,364		112,823
Financing Receivable, Allowance for Credit Loss, Writeoff	(129)	(96)
Financing Receivable, Allowance for Credit Loss, Recovery	42	39
Financing Receivable, Credit Loss, Expense (Reversal)	88	77
Financing Receivable, Allowance for Credit Losses, Other	(3)	5
Financing Receivable, before Allowance for Credit Loss	116,244		113,705
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease)	$ (2)
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	$ 3	7	3	7
Financing Receivable, Allowance for Credit Loss, Writeoff	0	0
Financing Receivable, Allowance for Credit Loss, Recovery	3	1
Financing Receivable, Credit Loss, Expense (Reversal)	(3)	(1)
Financing Receivable, Allowance for Credit Losses, Other	0	0
Financing Receivable, before Allowance for Credit Loss	36,204		35,313
Consumer Portfolio Segment [Member]
Allowance for Credit Losses [Line Items]
Financing Receivable, Allowance for Credit Loss	877	863	879	$ 838
Financing Receivable, Allowance for Credit Loss, Writeoff	(129)	(96)
Financing Receivable, Allowance for Credit Loss, Recovery	39	38
Financing Receivable, Credit Loss, Expense (Reversal)	91	78
Financing Receivable, Allowance for Credit Losses, Other	(3)	$ 5
Financing Receivable, before Allowance for Credit Loss	80,040		78,392
Retail Installment loans, dealer financing, and other financing [Member]
Allowance for Credit Losses [Line Items]
Finance receivables, net	$ 107,841		$ 105,476

Net Investments in Operating _2

Net Investments in Operating Leases (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 462	$ 453
Net Investment in Operating Leases	$ 20,110	20,332
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	$ 23,907	24,182
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	3,797	3,850
Net Investment in Operating Leases	$ 20,110	$ 20,332

Transfers of Receivables - Asse

Transfers of Receivables - Assets and Liabilities of Securitizations (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Securitization Transactions [Line Items]
Cash and cash equivalents	$ 8,848	$ 10,658
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	135,474		$ 123,827
Related Debt	129,258	129,287
Total assets	149,709	149,205	$ 138,932
Consolidated Entities [Member] | Securitization Transactions [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	3,300	2,700
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	78,200	78,500
Allowance for Credit Losses	(400)	(500)
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	77,800	78,000
Related Debt	54,900	58,000
Consolidated Entities [Member] | Securitization Transactions [Member] | Financing Receivable [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	2,800	2,200
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	67,000	67,300
Allowance for Credit Losses	(400)	(500)
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	66,600	66,800
Related Debt	47,200	50,500
Consolidated Entities [Member] | Securitization Transactions [Member] | Retail [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	2,000	2,000
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	45,000	46,000
Allowance for Credit Losses	(400)	(500)
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	44,600	45,500
Related Debt	38,100	38,500
Consolidated Entities [Member] | Securitization Transactions [Member] | Wholesale [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	800	200
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	22,000	21,300
Allowance for Credit Losses	0	0
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	22,000	21,300
Related Debt	9,100	12,000
Consolidated Entities [Member] | Securitization Transactions [Member] | Net Investment in Operating Leases [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	500	500
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	11,200	11,200
Allowance for Credit Losses	0	0
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	11,200	11,200
Related Debt	7,700	7,500
Variable Interest Entity, Primary Beneficiary [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	2,909	2,298
Related Debt	45,716	48,177
Variable Interest Entity, Primary Beneficiary [Member] | Securitization Transactions [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	2,900	2,300
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	68,000	67,700
Allowance for Credit Losses	(300)	(400)
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	67,700	67,300
Related Debt	45,700	48,200
Variable Interest Entity, Primary Beneficiary [Member] | Securitization Transactions [Member] | Financing Receivable [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	2,400	1,800
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	56,800	56,500
Allowance for Credit Losses	(300)	(400)
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	56,500	56,100
Related Debt	38,000	40,700
Variable Interest Entity, Primary Beneficiary [Member] | Securitization Transactions [Member] | Retail [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	1,600	1,600
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	35,200	35,700
Allowance for Credit Losses	(300)	(400)
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	34,900	35,300
Related Debt	29,100	29,100
Variable Interest Entity, Primary Beneficiary [Member] | Securitization Transactions [Member] | Wholesale [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	800	200
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	21,600	20,800
Allowance for Credit Losses	0	0
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	21,600	20,800
Related Debt	8,900	11,600
Variable Interest Entity, Primary Beneficiary [Member] | Securitization Transactions [Member] | Net Investment in Operating Leases [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	500	500
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	11,200	11,200
Allowance for Credit Losses	0	0
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	11,200	11,200
Related Debt	7,700	7,500
Consolidated Entity Excluding Variable Interest Entities (VIE) [Member] | Securitization Transactions [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	400	400
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	10,200	10,800
Allowance for Credit Losses	(100)	(100)
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	10,100	10,700
Related Debt	9,200	9,800
Consolidated Entity Excluding Variable Interest Entities (VIE) [Member] | Securitization Transactions [Member] | Financing Receivable [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	400	400
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	10,200	10,800
Allowance for Credit Losses	(100)	(100)
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	10,100	10,700
Related Debt	9,200	9,800
Consolidated Entity Excluding Variable Interest Entities (VIE) [Member] | Securitization Transactions [Member] | Retail [Member]
Securitization Transactions [Line Items]
Cash and cash equivalents	400	400
Finance Receivables and Net Investment in Operating Leases, Before Allowance for Credit Losses	9,800	10,300
Allowance for Credit Losses	(100)	(100)
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	9,700	10,200
Related Debt	9,000	9,400
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	400	500
Allowance for Credit Losses	0	0
Finance Receivables and Net Investment In Operating Leases, After Allowance for Credit Losses	400	500
Related Debt	200	400
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, 2024	Mar. 31, 2023	Dec. 31, 2023
Derivative [Line Items]
Debt Carrying Value Fair Value	$ 40,300,000,000		$ 38,700,000,000
Income Effect of Derivative Financial Instruments [Abstract]
Derivative, Gain (Loss) on Derivative, Net	(176,000,000)	$ (129,000,000)
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Fair Value of Derivative Assets	812,000,000		818,000,000
Fair Value of Derivative Liabilities	2,152,000,000		2,141,000,000
Derivative, Notional Amount	110,055,000,000		104,707,000,000
Derivative, Collateral, Obligation to Return Cash	33,000,000		40,000,000
Derivative, Collateral, Right to Reclaim Cash	108,000,000		126,000,000
Derivative Asset, Not Offset, Policy Election Deduction	471,000,000		516,000,000
Derivative Liability, Not Offset, Policy Election Deduction	471,000,000		516,000,000
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	(96,000,000)	(140,000,000)
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	(243,000,000)	250,000,000
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	220,000,000	(279,000,000)
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Derivative, Notional Amount	16,307,000,000		12,119,000,000
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	(29,000,000)	(14,000,000)
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	(64,000,000)	22,000,000
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	62,000,000	(19,000,000)
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Derivative, Notional Amount	3,155,000,000		2,078,000,000
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	84,000,000		106,000,000
Fair Value of Derivative Liabilities	769,000,000		633,000,000
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	41,000,000		69,000,000
Fair Value of Derivative Liabilities	115,000,000		104,000,000
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member]
Income Effect of Derivative Financial Instruments [Abstract]
Derivative, Gain (Loss) on Derivative, Net	48,000,000	(12,000,000)
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Derivative, Notional Amount	73,109,000,000		73,134,000,000
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	489,000,000		465,000,000
Fair Value of Derivative Liabilities	928,000,000		1,036,000,000
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Level 2 [Member] | Fair Value, Recurring [Member] | Affiliated Entity
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Fair Value of Derivative Assets	46,000,000
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]
Income Effect of Derivative Financial Instruments [Abstract]
Derivative, Gain (Loss) on Derivative, Net	92,000,000	(22,000,000)
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Derivative, Notional Amount	10,955,000,000		10,276,000,000
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | Affiliated Entity
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Derivative, Notional Amount	7,300,000,000
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	99,000,000		59,000,000
Fair Value of Derivative Liabilities	49,000,000		116,000,000
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | Level 2 [Member] | Fair Value, Recurring [Member] | Affiliated Entity
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Fair Value of Derivative Liabilities	46,000,000
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	(166,000,000)	$ 85,000,000
Balance Sheet Effect of Derivative Financial Instruments [Abstract]
Derivative, Notional Amount	6,529,000,000		7,100,000,000
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	99,000,000		119,000,000
Fair Value of Derivative Liabilities	$ 291,000,000		$ 252,000,000

Other Assets and Other Liabil_3

Other Assets and Other Liabilities and Deferred Income (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Other Assets and Other Liabilities [Abstract]
Accrued interest and other non-finance receivables	$ 671	$ 677
Property, Plant and Equipment, Net	279	270
Collateral held for resale, at net realizable value, and other inventory	390	426
Deferred charges - income taxes	163	190
Prepaid Reinsurance Premiums and Other Reinsurance Recoverables	828	818
Operating lease assets	48	53
Investment in non-consolidated affiliates	174	167
Other	224	202
Other assets	2,879	2,940
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	462	453
Unearned Premiums and Fees	939	930
Interest Payable	1,068	963
Taxes Payable	193	186
Employee-related Liabilities	85	96
Operating Lease, Liability	50	55
Other Liabilities	2,579	2,459
Related Party Transactions Income Taxes and Related Interest Payable	32	62
Other Liabilities, Miscellaneous	244	229
Restricted Cash	102	137
Property Subject to Operating Lease [Member]
Other Assets and Other Liabilities [Abstract]
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 3,797	$ 3,850

Debt (Details)

Debt (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total short-term debt	$ 17,141,000,000	$ 18,658,000,000
Unamortized discount	0	9,000,000
Unamortized debt issuance costs	(254,000,000)	(237,000,000)
Fair value adjustments	(1,418,000,000)	(1,258,000,000)
Total long-term debt	112,117,000,000	110,629,000,000
Total debt	$ 129,258,000,000	$ 129,287,000,000
Average Contractual (interest rate)	4.90%	4.80%
Average Effective (interest rate)	4.90%	4.80%
Debt Carrying Value Fair Value	$ 40,300,000,000	$ 38,700,000,000
Fair value of short-term debt	15,200,000,000	15,500,000,000
Discontinued Hedged Debt	(607,000,000)	(681,000,000)
Floating Rate Demand Notes [Member]
Debt Instrument [Line Items]
Total short-term debt	11,009,000,000	10,907,000,000
Other short-term debt [Member]
Debt Instrument [Line Items]
Total short-term debt	4,211,000,000	4,593,000,000
Asset-backed Securities [Member]
Debt Instrument [Line Items]
Total short-term debt	1,921,000,000	3,158,000,000
Unsecured Debt [Member]
Debt Instrument [Line Items]
Notes payable within one year	10,917,000,000	11,755,000,000
Notes payable after one year	49,842,000,000	45,435,000,000
Asset-backed Securities [Member]
Debt Instrument [Line Items]
Notes payable within one year	21,120,000,000	18,851,000,000
Notes payable after one year	$ 31,910,000,000	$ 36,074,000,000
Total short-term debt [Member]
Debt Instrument [Line Items]
Average Contractual (interest rate)	5.20%	5.30%
Average Effective (interest rate)	5.20%	5.30%
Total long-term debt [Member]
Debt Instrument [Line Items]
Average Contractual (interest rate)	4.80%	4.70%
Average Effective (interest rate)	4.80%	4.70%
Fair Value, Nonrecurring [Member] | Level 2 [Member]
Debt Instrument [Line Items]
Fair value of debt	$ 130,954,000,000	$ 130,533,000,000

Restructuring and Related Activ

Restructuring and Related Activities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Shareholder's Interest [Member]	$ 5,166		$ 5,166
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	$ 0

Other Income, Net (Details)

Other Income, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Other Income and Expenses [Abstract]
Gains/(Losses) on derivatives	$ (75)	$ 68
Currency revaluation gains/(losses)	70	(109)
Interest and investment income	142	135
Other	2	6
Other income, net	$ 139	$ 100

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total revenue	$ 3,106	$ 2,556
Income before income taxes	326	303
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	610	559
Interest expense	1,848	1,392
Financing Receivable, Credit Loss, Expense (Reversal)	88	77
Provision for credit losses	88	77
Net finance receivables and net investment in operating leases	135,474	123,827
Total assets	149,709	138,932	$ 149,205
Reportable segments
Segment Reporting Information [Line Items]
Total revenue	3,106	2,556
Income before income taxes	355	373
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	610	559
Interest expense	1,750	1,376
Financing Receivable, Credit Loss, Expense (Reversal)	88	77
Net finance receivables and net investment in operating leases	135,474	123,827
Total assets	149,709	138,932
Reportable segments | All Other
Other disclosures [Abstract]
Net finance receivables and net investment in operating leases	4,819	4,943
Total assets	5,350	5,622
Reportable segments | United States and Canada
Other disclosures [Abstract]
Net finance receivables and net investment in operating leases	110,674	98,659
Total assets	120,368	109,955
Reportable segments | Europe
Other disclosures [Abstract]
Net finance receivables and net investment in operating leases	19,981	20,225
Total assets	23,991	23,355
Reportable segments | United States and Canada
Segment Reporting Information [Line Items]
Total revenue	2,616	2,170
Income before income taxes	263	273
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	603	557
Interest expense	1,460	1,195
Financing Receivable, Credit Loss, Expense (Reversal)	70	63
Reportable segments | Europe
Segment Reporting Information [Line Items]
Total revenue	371	284
Income before income taxes	72	78
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	7	2
Interest expense	221	130
Financing Receivable, Credit Loss, Expense (Reversal)	7	4
Reportable segments | All Other
Segment Reporting Information [Line Items]
Total revenue	119	102
Income before income taxes	20	22
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	0	0
Interest expense	69	51
Financing Receivable, Credit Loss, Expense (Reversal)	11	10
Unallocated other
Segment Reporting Information [Line Items]
Total revenue	0	0
Income before income taxes	(29)	(70)
Other disclosures [Abstract]
Depreciation on vehicles subject to operating leases	0	0
Interest expense	98	16
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	Mar. 31, 2024	Dec. 31, 2023
Financial Guarantee [Member]
Guarantor Obligations [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 92	$ 90
Counter Guarantee [Member] | Ford Motor Company [Member]
Guarantor Obligations [Line Items]
Counter guarantee	$ 52	$ 48