000003799612/31FALSE2020Q3P3MP1YP8Y00000379962020-01-012020-09-300000037996f:FPRBMember2020-01-012020-09-300000037996f:FPRCMember2020-01-012020-09-30xbrli:shares0000037996us-gaap:CommonStockMember2020-10-230000037996us-gaap:CommonClassBMember2020-10-23iso4217:USD00000379962019-01-012019-09-3000000379962018-12-3100000379962019-12-3100000379962019-09-3000000379962020-09-300000037996f:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:FordCreditMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:FordCreditMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:FordCreditMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:FordCreditMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:MobilitySegmentMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:MobilitySegmentMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:MobilitySegmentMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:MobilitySegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-3000000379962019-07-012019-09-3000000379962020-07-012020-09-300000037996us-gaap:AllOtherSegmentsMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996us-gaap:AllOtherSegmentsMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996us-gaap:AllOtherSegmentsMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996us-gaap:AllOtherSegmentsMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-30iso4217:USDxbrli:shares0000037996f:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:FordCreditMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:FordCreditMemberus-gaap:OperatingSegmentsMember2020-09-300000037996us-gaap:AllOtherSegmentsMemberus-gaap:OperatingSegmentsMember2019-12-310000037996us-gaap:AllOtherSegmentsMemberus-gaap:OperatingSegmentsMember2020-09-300000037996us-gaap:CommonStockMember2020-09-300000037996us-gaap:CommonStockMember2019-12-310000037996us-gaap:CommonClassBMember2020-09-300000037996us-gaap:CommonClassBMember2019-12-310000037996us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2019-12-310000037996us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2020-09-300000037996us-gaap:CommonStockMember2018-12-310000037996us-gaap:AdditionalPaidInCapitalMember2018-12-310000037996us-gaap:RetainedEarningsMember2018-12-310000037996us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-12-310000037996us-gaap:TreasuryStockMember2018-12-310000037996us-gaap:ParentMember2018-12-310000037996us-gaap:NoncontrollingInterestMember2018-12-310000037996us-gaap:CommonStockMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2018-12-310000037996us-gaap:AdditionalPaidInCapitalMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2018-12-310000037996us-gaap:RetainedEarningsMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2018-12-310000037996us-gaap:AccumulatedOtherComprehensiveIncomeMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2018-12-310000037996us-gaap:TreasuryStockMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2018-12-310000037996us-gaap:ParentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2018-12-310000037996us-gaap:NoncontrollingInterestMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2018-12-310000037996srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2018-12-310000037996us-gaap:CommonStockMember2019-01-012019-03-310000037996us-gaap:AdditionalPaidInCapitalMember2019-01-012019-03-310000037996us-gaap:RetainedEarningsMember2019-01-012019-03-310000037996us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-01-012019-03-310000037996us-gaap:TreasuryStockMember2019-01-012019-03-310000037996us-gaap:ParentMember2019-01-012019-03-310000037996us-gaap:NoncontrollingInterestMember2019-01-012019-03-3100000379962019-01-012019-03-310000037996us-gaap:CommonStockMember2019-03-310000037996us-gaap:AdditionalPaidInCapitalMember2019-03-310000037996us-gaap:RetainedEarningsMember2019-03-310000037996us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-03-310000037996us-gaap:TreasuryStockMember2019-03-310000037996us-gaap:ParentMember2019-03-310000037996us-gaap:NoncontrollingInterestMember2019-03-3100000379962019-03-310000037996us-gaap:CommonStockMember2019-04-012019-06-300000037996us-gaap:AdditionalPaidInCapitalMember2019-04-012019-06-300000037996us-gaap:RetainedEarningsMember2019-04-012019-06-300000037996us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-04-012019-06-300000037996us-gaap:TreasuryStockMember2019-04-012019-06-300000037996us-gaap:ParentMember2019-04-012019-06-300000037996us-gaap:NoncontrollingInterestMember2019-04-012019-06-3000000379962019-04-012019-06-300000037996us-gaap:CommonStockMember2019-06-300000037996us-gaap:AdditionalPaidInCapitalMember2019-06-300000037996us-gaap:RetainedEarningsMember2019-06-300000037996us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-06-300000037996us-gaap:TreasuryStockMember2019-06-300000037996us-gaap:ParentMember2019-06-300000037996us-gaap:NoncontrollingInterestMember2019-06-3000000379962019-06-300000037996us-gaap:CommonStockMember2019-07-012019-09-300000037996us-gaap:AdditionalPaidInCapitalMember2019-07-012019-09-300000037996us-gaap:RetainedEarningsMember2019-07-012019-09-300000037996us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-07-012019-09-300000037996us-gaap:TreasuryStockMember2019-07-012019-09-300000037996us-gaap:ParentMember2019-07-012019-09-300000037996us-gaap:NoncontrollingInterestMember2019-07-012019-09-300000037996us-gaap:CommonStockMember2019-09-300000037996us-gaap:AdditionalPaidInCapitalMember2019-09-300000037996us-gaap:RetainedEarningsMember2019-09-300000037996us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-09-300000037996us-gaap:TreasuryStockMember2019-09-300000037996us-gaap:ParentMember2019-09-300000037996us-gaap:NoncontrollingInterestMember2019-09-300000037996us-gaap:CommonStockMember2019-12-310000037996us-gaap:AdditionalPaidInCapitalMember2019-12-310000037996us-gaap:RetainedEarningsMember2019-12-310000037996us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310000037996us-gaap:TreasuryStockMember2019-12-310000037996us-gaap:ParentMember2019-12-310000037996us-gaap:NoncontrollingInterestMember2019-12-310000037996us-gaap:CommonStockMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310000037996us-gaap:AdditionalPaidInCapitalMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310000037996us-gaap:RetainedEarningsMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310000037996us-gaap:AccumulatedOtherComprehensiveIncomeMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310000037996us-gaap:TreasuryStockMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310000037996us-gaap:ParentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310000037996us-gaap:NoncontrollingInterestMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310000037996srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310000037996us-gaap:CommonStockMember2020-01-012020-03-310000037996us-gaap:AdditionalPaidInCapitalMember2020-01-012020-03-310000037996us-gaap:RetainedEarningsMember2020-01-012020-03-310000037996us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-03-310000037996us-gaap:TreasuryStockMember2020-01-012020-03-310000037996us-gaap:ParentMember2020-01-012020-03-310000037996us-gaap:NoncontrollingInterestMember2020-01-012020-03-3100000379962020-01-012020-03-310000037996us-gaap:CommonStockMember2020-03-310000037996us-gaap:AdditionalPaidInCapitalMember2020-03-310000037996us-gaap:RetainedEarningsMember2020-03-310000037996us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-03-310000037996us-gaap:TreasuryStockMember2020-03-310000037996us-gaap:ParentMember2020-03-310000037996us-gaap:NoncontrollingInterestMember2020-03-3100000379962020-03-310000037996us-gaap:CommonStockMember2020-04-012020-06-300000037996us-gaap:AdditionalPaidInCapitalMember2020-04-012020-06-300000037996us-gaap:RetainedEarningsMember2020-04-012020-06-300000037996us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-04-012020-06-300000037996us-gaap:TreasuryStockMember2020-04-012020-06-300000037996us-gaap:ParentMember2020-04-012020-06-300000037996us-gaap:NoncontrollingInterestMember2020-04-012020-06-3000000379962020-04-012020-06-300000037996us-gaap:CommonStockMember2020-06-300000037996us-gaap:AdditionalPaidInCapitalMember2020-06-300000037996us-gaap:RetainedEarningsMember2020-06-300000037996us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-300000037996us-gaap:TreasuryStockMember2020-06-300000037996us-gaap:ParentMember2020-06-300000037996us-gaap:NoncontrollingInterestMember2020-06-3000000379962020-06-300000037996us-gaap:CommonStockMember2020-07-012020-09-300000037996us-gaap:AdditionalPaidInCapitalMember2020-07-012020-09-300000037996us-gaap:RetainedEarningsMember2020-07-012020-09-300000037996us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-300000037996us-gaap:TreasuryStockMember2020-07-012020-09-300000037996us-gaap:ParentMember2020-07-012020-09-300000037996us-gaap:NoncontrollingInterestMember2020-07-012020-09-300000037996us-gaap:CommonStockMember2020-09-300000037996us-gaap:AdditionalPaidInCapitalMember2020-09-300000037996us-gaap:RetainedEarningsMember2020-09-300000037996us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-09-300000037996us-gaap:TreasuryStockMember2020-09-300000037996us-gaap:ParentMember2020-09-300000037996us-gaap:NoncontrollingInterestMember2020-09-300000037996srt:ScenarioPreviouslyReportedMember2019-12-310000037996us-gaap:AccountingStandardsUpdate201613Member2020-01-0100000379962020-01-010000037996f:VehiclesPartsAndAccessoriesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:VehiclesPartsAndAccessoriesMemberf:MobilitySegmentMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:FordCreditMemberf:VehiclesPartsAndAccessoriesMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:VehiclesPartsAndAccessoriesMember2019-07-012019-09-300000037996f:UsedVehiclesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:MobilitySegmentMemberf:UsedVehiclesMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:FordCreditMemberf:UsedVehiclesMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:UsedVehiclesMember2019-07-012019-09-300000037996f:ExtendedServiceContractsMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:ExtendedServiceContractsMemberf:MobilitySegmentMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:FordCreditMemberf:ExtendedServiceContractsMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:ExtendedServiceContractsMember2019-07-012019-09-300000037996f:OtherProductsAndServicesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:MobilitySegmentMemberf:OtherProductsAndServicesMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:FordCreditMemberf:OtherProductsAndServicesMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:OtherProductsAndServicesMember2019-07-012019-09-300000037996f:AutomotiveSegmentMemberf:AllSalesTypeProductsAndServicesMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:MobilitySegmentMemberf:AllSalesTypeProductsAndServicesMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:FordCreditMemberf:AllSalesTypeProductsAndServicesMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:AllSalesTypeProductsAndServicesMember2019-07-012019-09-300000037996f:AutomotiveSegmentMemberf:LeasingincomeMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:MobilitySegmentMemberf:LeasingincomeMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:FordCreditMemberf:LeasingincomeMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:LeasingincomeMember2019-07-012019-09-300000037996f:FinancingincomeMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:FinancingincomeMemberf:MobilitySegmentMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:FinancingincomeMemberf:FordCreditMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:FinancingincomeMember2019-07-012019-09-300000037996f:InsuranceincomeMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:MobilitySegmentMemberf:InsuranceincomeMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:FordCreditMemberf:InsuranceincomeMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:InsuranceincomeMember2019-07-012019-09-300000037996f:VehiclesPartsAndAccessoriesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:VehiclesPartsAndAccessoriesMemberf:MobilitySegmentMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:FordCreditMemberf:VehiclesPartsAndAccessoriesMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:VehiclesPartsAndAccessoriesMember2020-07-012020-09-300000037996f:UsedVehiclesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:MobilitySegmentMemberf:UsedVehiclesMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:FordCreditMemberf:UsedVehiclesMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:UsedVehiclesMember2020-07-012020-09-300000037996f:ExtendedServiceContractsMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:ExtendedServiceContractsMemberf:MobilitySegmentMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:FordCreditMemberf:ExtendedServiceContractsMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:ExtendedServiceContractsMember2020-07-012020-09-300000037996f:OtherProductsAndServicesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:MobilitySegmentMemberf:OtherProductsAndServicesMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:FordCreditMemberf:OtherProductsAndServicesMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:OtherProductsAndServicesMember2020-07-012020-09-300000037996f:AutomotiveSegmentMemberf:AllSalesTypeProductsAndServicesMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:MobilitySegmentMemberf:AllSalesTypeProductsAndServicesMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:FordCreditMemberf:AllSalesTypeProductsAndServicesMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:AllSalesTypeProductsAndServicesMember2020-07-012020-09-300000037996f:AutomotiveSegmentMemberf:LeasingincomeMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:MobilitySegmentMemberf:LeasingincomeMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:FordCreditMemberf:LeasingincomeMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:LeasingincomeMember2020-07-012020-09-300000037996f:FinancingincomeMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:FinancingincomeMemberf:MobilitySegmentMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:FinancingincomeMemberf:FordCreditMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:FinancingincomeMember2020-07-012020-09-300000037996f:InsuranceincomeMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:MobilitySegmentMemberf:InsuranceincomeMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:FordCreditMemberf:InsuranceincomeMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:InsuranceincomeMember2020-07-012020-09-300000037996f:VehiclesPartsAndAccessoriesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:VehiclesPartsAndAccessoriesMemberf:MobilitySegmentMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:FordCreditMemberf:VehiclesPartsAndAccessoriesMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:VehiclesPartsAndAccessoriesMember2019-01-012019-09-300000037996f:UsedVehiclesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:MobilitySegmentMemberf:UsedVehiclesMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:FordCreditMemberf:UsedVehiclesMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:UsedVehiclesMember2019-01-012019-09-300000037996f:ExtendedServiceContractsMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:ExtendedServiceContractsMemberf:MobilitySegmentMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:FordCreditMemberf:ExtendedServiceContractsMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:ExtendedServiceContractsMember2019-01-012019-09-300000037996f:OtherProductsAndServicesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:MobilitySegmentMemberf:OtherProductsAndServicesMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:FordCreditMemberf:OtherProductsAndServicesMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:OtherProductsAndServicesMember2019-01-012019-09-300000037996f:AutomotiveSegmentMemberf:AllSalesTypeProductsAndServicesMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:MobilitySegmentMemberf:AllSalesTypeProductsAndServicesMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:FordCreditMemberf:AllSalesTypeProductsAndServicesMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:AllSalesTypeProductsAndServicesMember2019-01-012019-09-300000037996f:AutomotiveSegmentMemberf:LeasingincomeMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:MobilitySegmentMemberf:LeasingincomeMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:FordCreditMemberf:LeasingincomeMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:LeasingincomeMember2019-01-012019-09-300000037996f:FinancingincomeMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:FinancingincomeMemberf:MobilitySegmentMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:FinancingincomeMemberf:FordCreditMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:FinancingincomeMember2019-01-012019-09-300000037996f:InsuranceincomeMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:MobilitySegmentMemberf:InsuranceincomeMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:FordCreditMemberf:InsuranceincomeMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300000037996f:InsuranceincomeMember2019-01-012019-09-300000037996f:VehiclesPartsAndAccessoriesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:VehiclesPartsAndAccessoriesMemberf:MobilitySegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:FordCreditMemberf:VehiclesPartsAndAccessoriesMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:VehiclesPartsAndAccessoriesMember2020-01-012020-09-300000037996f:UsedVehiclesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:MobilitySegmentMemberf:UsedVehiclesMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:FordCreditMemberf:UsedVehiclesMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:UsedVehiclesMember2020-01-012020-09-300000037996f:ExtendedServiceContractsMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:ExtendedServiceContractsMemberf:MobilitySegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:FordCreditMemberf:ExtendedServiceContractsMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:ExtendedServiceContractsMember2020-01-012020-09-300000037996f:OtherProductsAndServicesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:MobilitySegmentMemberf:OtherProductsAndServicesMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:FordCreditMemberf:OtherProductsAndServicesMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:OtherProductsAndServicesMember2020-01-012020-09-300000037996f:AutomotiveSegmentMemberf:AllSalesTypeProductsAndServicesMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:MobilitySegmentMemberf:AllSalesTypeProductsAndServicesMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:FordCreditMemberf:AllSalesTypeProductsAndServicesMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:AllSalesTypeProductsAndServicesMember2020-01-012020-09-300000037996f:AutomotiveSegmentMemberf:LeasingincomeMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:MobilitySegmentMemberf:LeasingincomeMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:FordCreditMemberf:LeasingincomeMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:LeasingincomeMember2020-01-012020-09-300000037996f:FinancingincomeMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:FinancingincomeMemberf:MobilitySegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:FinancingincomeMemberf:FordCreditMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:FinancingincomeMember2020-01-012020-09-300000037996f:InsuranceincomeMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:MobilitySegmentMemberf:InsuranceincomeMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:FordCreditMemberf:InsuranceincomeMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:InsuranceincomeMember2020-01-012020-09-300000037996f:ExtendedServiceContractsMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:ExtendedServiceContractsMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-09-3000000379962020-10-01f:ExtendedServiceContractsMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:ExtendedServiceContractsMember2021-01-01f:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:ExtendedServiceContractsMember2022-01-01f:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-09-300000037996us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberf:AutomotiveSegmentMemberus-gaap:USTreasurySecuritiesMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:MobilitySegmentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:USTreasurySecuritiesMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:FordCreditMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:USTreasurySecuritiesMemberus-gaap:OperatingSegmentsMember2019-12-310000037996us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:USTreasurySecuritiesMember2019-12-310000037996us-gaap:FairValueInputsLevel2Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-12-310000037996us-gaap:FairValueInputsLevel2Memberf:MobilitySegmentMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:FordCreditMemberus-gaap:FairValueInputsLevel2Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OperatingSegmentsMember2019-12-310000037996us-gaap:FairValueInputsLevel2Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2019-12-310000037996us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberf:AutomotiveSegmentMemberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:OperatingSegmentsMember2019-12-310000037996us-gaap:FairValueInputsLevel2Memberf:MobilitySegmentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:FordCreditMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:OperatingSegmentsMember2019-12-310000037996us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2019-12-310000037996us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-12-310000037996us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberf:MobilitySegmentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OperatingSegmentsMember2019-12-310000037996us-gaap:CorporateDebtSecuritiesMemberf:FordCreditMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OperatingSegmentsMember2019-12-310000037996us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-310000037996us-gaap:FairValueMeasurementsRecurringMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:MobilitySegmentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:FordCreditMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OperatingSegmentsMember2019-12-310000037996us-gaap:FairValueMeasurementsRecurringMember2019-12-310000037996f:MobilitySegmentMemberus-gaap:OperatingSegmentsMember2019-12-310000037996us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EquitySecuritiesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:MobilitySegmentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EquitySecuritiesMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:FordCreditMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EquitySecuritiesMemberus-gaap:OperatingSegmentsMember2019-12-310000037996us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EquitySecuritiesMember2019-12-310000037996f:OthermarketablesecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:OthermarketablesecuritiesMemberus-gaap:FairValueInputsLevel2Memberf:MobilitySegmentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:OthermarketablesecuritiesMemberf:FordCreditMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:OthermarketablesecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-310000037996us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberf:AutomotiveSegmentMemberus-gaap:USTreasurySecuritiesMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:MobilitySegmentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:USTreasurySecuritiesMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:FordCreditMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:USTreasurySecuritiesMemberus-gaap:OperatingSegmentsMember2020-09-300000037996us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:USTreasurySecuritiesMember2020-09-300000037996us-gaap:FairValueInputsLevel2Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-09-300000037996us-gaap:FairValueInputsLevel2Memberf:MobilitySegmentMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:FordCreditMemberus-gaap:FairValueInputsLevel2Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OperatingSegmentsMember2020-09-300000037996us-gaap:FairValueInputsLevel2Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-09-300000037996us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberf:AutomotiveSegmentMemberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:OperatingSegmentsMember2020-09-300000037996us-gaap:FairValueInputsLevel2Memberf:MobilitySegmentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:FordCreditMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:OperatingSegmentsMember2020-09-300000037996us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2020-09-300000037996us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-09-300000037996us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberf:MobilitySegmentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OperatingSegmentsMember2020-09-300000037996us-gaap:CorporateDebtSecuritiesMemberf:FordCreditMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OperatingSegmentsMember2020-09-300000037996us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-09-300000037996us-gaap:FairValueMeasurementsRecurringMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:MobilitySegmentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:FordCreditMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OperatingSegmentsMember2020-09-300000037996us-gaap:FairValueMeasurementsRecurringMember2020-09-300000037996f:MobilitySegmentMemberus-gaap:OperatingSegmentsMember2020-09-300000037996us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EquitySecuritiesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:MobilitySegmentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EquitySecuritiesMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:FordCreditMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EquitySecuritiesMemberus-gaap:OperatingSegmentsMember2020-09-300000037996us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EquitySecuritiesMember2020-09-300000037996f:OthermarketablesecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:OthermarketablesecuritiesMemberus-gaap:FairValueInputsLevel2Memberf:MobilitySegmentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:OthermarketablesecuritiesMemberf:FordCreditMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:OthermarketablesecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-09-300000037996us-gaap:EquitySecuritiesMember2019-01-012019-09-300000037996us-gaap:EquitySecuritiesMember2020-01-012020-09-300000037996f:AutomotiveSegmentMemberus-gaap:USTreasurySecuritiesMemberus-gaap:OperatingSegmentsMember2019-12-310000037996us-gaap:USGovernmentAgenciesDebtSecuritiesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:AutomotiveSegmentMemberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:OperatingSegmentsMember2019-12-310000037996us-gaap:CorporateDebtSecuritiesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:OthermarketablesecuritiesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:AutomotiveSegmentMemberus-gaap:USTreasurySecuritiesMemberus-gaap:OperatingSegmentsMember2020-09-300000037996us-gaap:USGovernmentAgenciesDebtSecuritiesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:AutomotiveSegmentMemberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:OperatingSegmentsMember2020-09-300000037996us-gaap:CorporateDebtSecuritiesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:OthermarketablesecuritiesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:FordCreditMemberf:RetailInstallmentContractsMemberus-gaap:ConsumerPortfolioSegmentMember2019-12-310000037996f:FordCreditMemberf:RetailInstallmentContractsMemberus-gaap:ConsumerPortfolioSegmentMember2020-09-300000037996f:FordCreditMemberus-gaap:FinanceLeasesPortfolioSegmentMemberus-gaap:AutomobileLoanMember2019-12-310000037996f:FordCreditMemberus-gaap:FinanceLeasesPortfolioSegmentMemberus-gaap:AutomobileLoanMember2020-09-300000037996f:FordCreditMemberus-gaap:ConsumerPortfolioSegmentMember2019-12-310000037996f:FordCreditMemberus-gaap:ConsumerPortfolioSegmentMember2020-09-300000037996f:FordCreditMemberus-gaap:AutomobileLoanMemberus-gaap:ConsumerPortfolioSegmentMember2019-12-310000037996f:FordCreditMemberus-gaap:AutomobileLoanMemberus-gaap:ConsumerPortfolioSegmentMember2020-09-300000037996f:FordCreditMemberf:WholesaleAndDealerLoansMemberus-gaap:CommercialPortfolioSegmentMember2019-12-310000037996f:FordCreditMemberf:WholesaleAndDealerLoansMemberus-gaap:CommercialPortfolioSegmentMember2020-09-300000037996f:FordCreditMemberus-gaap:CommercialPortfolioSegmentMember2019-12-310000037996f:FordCreditMemberus-gaap:CommercialPortfolioSegmentMember2020-09-300000037996f:FordCreditMember2019-12-310000037996f:FordCreditMember2020-09-300000037996f:FordCreditMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2019-12-310000037996f:FordCreditMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2020-09-300000037996f:FordCreditMember2019-07-012019-09-300000037996f:FordCreditMember2020-07-012020-09-300000037996f:FordCreditMember2019-01-012019-09-300000037996f:FordCreditMember2020-01-012020-09-300000037996f:FordCreditMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2019-12-310000037996f:FordCreditMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2020-09-300000037996f:FordCreditMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2019-12-310000037996f:FordCreditMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2020-09-300000037996f:FordCreditMemberus-gaap:DisposalGroupNotDiscontinuedOperationsMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:FordCreditMemberf:ForsoNordicABMemberus-gaap:OperatingSegmentsMember2019-12-310000037996srt:MaximumMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:PassMember2020-01-012020-09-300000037996us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SpecialMentionMembersrt:MinimumMember2020-01-012020-09-300000037996srt:MaximumMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:SpecialMentionMember2020-01-012020-09-300000037996us-gaap:SubstandardMemberus-gaap:ConsumerPortfolioSegmentMembersrt:MinimumMember2020-01-012020-09-300000037996us-gaap:ConsumerPortfolioSegmentMemberf:FinancingReceivables31to60DaysPastdueMember2019-12-310000037996f:FinancingReceivables61to120DaysPastdueMemberus-gaap:ConsumerPortfolioSegmentMember2019-12-310000037996f:FinancingReceivablesGreaterthan120DaysPastdueMemberus-gaap:ConsumerPortfolioSegmentMember2019-12-310000037996us-gaap:ConsumerPortfolioSegmentMember2019-12-310000037996f:FordCreditMemberus-gaap:ConsumerPortfolioSegmentMemberf:FinancingReceivables31to60DaysPastdueMember2020-09-300000037996f:FordCreditMemberus-gaap:ConsumerPortfolioSegmentMemberf:FinancingReceivables61to120DaysPastdueMember2020-09-300000037996f:FordCreditMemberf:FinancingReceivablesGreaterthan120DaysPastdueMemberus-gaap:ConsumerPortfolioSegmentMember2020-09-300000037996f:FordCreditMemberus-gaap:ConsumerPortfolioSegmentMemberf:FinancialAssetGreaterthan30DaysPastDueMember2020-09-300000037996f:FordCreditMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2020-09-300000037996f:InternallyAssignedGradeGroupIMemberus-gaap:CommercialPortfolioSegmentMember2019-12-310000037996f:InternallyAssignedGradeGroupIIMemberus-gaap:CommercialPortfolioSegmentMember2019-12-310000037996f:InternallyAssignedGradeGroupIIIMemberus-gaap:CommercialPortfolioSegmentMember2019-12-310000037996f:InternallyAssignedGradeGroupIVMemberus-gaap:CommercialPortfolioSegmentMember2019-12-310000037996f:DealerLoansMemberf:FordCreditMemberf:InternallyAssignedGradeGroupIMemberus-gaap:CommercialPortfolioSegmentMember2020-09-300000037996f:FordCreditMemberf:InternallyAssignedGradeGroupIMemberus-gaap:CommercialPortfolioSegmentMember2020-09-300000037996f:InternallyAssignedGradeGroupIIMemberf:DealerLoansMemberf:FordCreditMemberus-gaap:CommercialPortfolioSegmentMember2020-09-300000037996f:InternallyAssignedGradeGroupIIMemberf:FordCreditMemberus-gaap:CommercialPortfolioSegmentMember2020-09-300000037996f:InternallyAssignedGradeGroupIIIMemberf:DealerLoansMemberf:FordCreditMemberus-gaap:CommercialPortfolioSegmentMember2020-09-300000037996f:InternallyAssignedGradeGroupIIIMemberf:FordCreditMemberus-gaap:CommercialPortfolioSegmentMember2020-09-300000037996f:DealerLoansMemberf:FordCreditMemberf:InternallyAssignedGradeGroupIVMemberus-gaap:CommercialPortfolioSegmentMember2020-09-300000037996f:FordCreditMemberf:InternallyAssignedGradeGroupIVMemberus-gaap:CommercialPortfolioSegmentMember2020-09-300000037996f:DealerLoansMemberf:FordCreditMemberus-gaap:CommercialPortfolioSegmentMember2020-09-300000037996f:FordCreditMemberus-gaap:ConsumerPortfolioSegmentMember2019-06-300000037996f:FordCreditMemberus-gaap:CommercialPortfolioSegmentMember2019-06-300000037996f:FordCreditMember2019-06-300000037996f:FordCreditMemberus-gaap:ConsumerPortfolioSegmentMember2018-12-310000037996f:FordCreditMemberus-gaap:CommercialPortfolioSegmentMember2018-12-310000037996f:FordCreditMember2018-12-310000037996f:FordCreditMemberus-gaap:ConsumerPortfolioSegmentMember2019-07-012019-09-300000037996f:FordCreditMemberus-gaap:CommercialPortfolioSegmentMember2019-07-012019-09-300000037996f:FordCreditMemberus-gaap:ConsumerPortfolioSegmentMember2019-01-012019-09-300000037996f:FordCreditMemberus-gaap:CommercialPortfolioSegmentMember2019-01-012019-09-300000037996f:FordCreditMemberus-gaap:ConsumerPortfolioSegmentMember2019-09-300000037996f:FordCreditMemberus-gaap:CommercialPortfolioSegmentMember2019-09-300000037996f:FordCreditMember2019-09-300000037996f:FordCreditMemberus-gaap:ConsumerPortfolioSegmentMember2020-06-300000037996f:FordCreditMemberus-gaap:CommercialPortfolioSegmentMember2020-06-300000037996f:FordCreditMember2020-06-300000037996f:FordCreditMemberus-gaap:ConsumerPortfolioSegmentMember2020-07-012020-09-300000037996f:FordCreditMemberus-gaap:CommercialPortfolioSegmentMember2020-07-012020-09-300000037996f:FordCreditMemberus-gaap:ConsumerPortfolioSegmentMember2020-01-012020-09-300000037996f:FordCreditMemberus-gaap:CommercialPortfolioSegmentMember2020-01-012020-09-300000037996f:FordCreditMemberf:FordCreditsFinanceReceivablePortfolioMember2020-07-012020-09-300000037996f:FordCreditMemberus-gaap:AccountingStandardsUpdate201613Member2020-01-012020-09-300000037996us-gaap:PensionPlansDefinedBenefitMembercountry:US2019-07-012019-09-300000037996us-gaap:PensionPlansDefinedBenefitMembercountry:US2020-07-012020-09-300000037996us-gaap:PensionPlansDefinedBenefitMemberus-gaap:ForeignPlanMember2019-07-012019-09-300000037996us-gaap:PensionPlansDefinedBenefitMemberus-gaap:ForeignPlanMember2020-07-012020-09-300000037996us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2019-07-012019-09-300000037996us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2020-07-012020-09-300000037996us-gaap:PensionPlansDefinedBenefitMembercountry:US2019-01-012019-09-300000037996us-gaap:PensionPlansDefinedBenefitMembercountry:US2020-01-012020-09-300000037996us-gaap:PensionPlansDefinedBenefitMemberus-gaap:ForeignPlanMember2019-01-012019-09-300000037996us-gaap:PensionPlansDefinedBenefitMemberus-gaap:ForeignPlanMember2020-01-012020-09-300000037996us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2019-01-012019-09-300000037996us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2020-01-012020-09-300000037996us-gaap:PensionPlansDefinedBenefitMemberf:GlobalRedesignMember2019-07-012019-09-300000037996us-gaap:PensionPlansDefinedBenefitMemberf:GlobalRedesignMember2020-07-012020-09-300000037996us-gaap:PensionPlansDefinedBenefitMemberf:GlobalRedesignMember2019-01-012019-09-300000037996us-gaap:PensionPlansDefinedBenefitMemberf:GlobalRedesignMember2020-01-012020-09-300000037996us-gaap:PensionPlansDefinedBenefitMemberus-gaap:FundedPlanMembersrt:MinimumMember2020-09-300000037996us-gaap:PensionPlansDefinedBenefitMembersrt:MaximumMemberus-gaap:FundedPlanMember2020-09-300000037996us-gaap:UnfundedPlanMember2020-09-300000037996us-gaap:PensionPlansDefinedBenefitMemberus-gaap:FundedPlanMember2020-01-012020-09-300000037996us-gaap:PensionPlansDefinedBenefitMemberus-gaap:UnfundedPlanMember2020-01-012020-09-300000037996us-gaap:NotesPayableOtherPayablesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-12-310000037996us-gaap:NotesPayableOtherPayablesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:AdvancedTechnologyVehiclesManufacturingProgramMemberf:AutomotiveSegmentMemberus-gaap:NotesPayableOtherPayablesMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:AdvancedTechnologyVehiclesManufacturingProgramMemberf:AutomotiveSegmentMemberus-gaap:NotesPayableOtherPayablesMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:AutomotiveSegmentMemberus-gaap:NotesPayableOtherPayablesMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:AutomotiveSegmentMemberus-gaap:NotesPayableOtherPayablesMemberus-gaap:OperatingSegmentsMember2020-09-300000037996us-gaap:CorporateDebtSecuritiesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-12-310000037996us-gaap:CorporateDebtSecuritiesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:AutomotiveSegmentMemberf:DelayedDrawTermLoanMemberus-gaap:NotesPayableOtherPayablesMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:AutomotiveSegmentMemberf:DelayedDrawTermLoanMemberus-gaap:NotesPayableOtherPayablesMemberus-gaap:OperatingSegmentsMember2020-09-300000037996us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-12-310000037996us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:FordCreditMemberus-gaap:NotesPayableOtherPayablesMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:FordCreditMemberus-gaap:NotesPayableOtherPayablesMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:FordCreditMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:FordCreditMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:OperatingSegmentsMember2020-09-300000037996us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:AllOtherSegmentsMemberus-gaap:OperatingSegmentsMember2019-12-310000037996us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:AllOtherSegmentsMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:AdvancedTechnologyVehiclesManufacturingProgramMemberf:AutomotiveSegmentMemberus-gaap:NotesPayableOtherPayablesMemberus-gaap:OperatingSegmentsMember2020-04-012020-06-300000037996f:AdvancedTechnologyVehiclesManufacturingProgramMemberf:AutomotiveSegmentMemberus-gaap:NotesPayableOtherPayablesMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:CorporateCreditFacilityMember2020-01-012020-03-310000037996us-gaap:CorporateDebtSecuritiesMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-30iso4217:GBP0000037996f:FordMotorCompanyLimitedMemberf:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-09-300000037996us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2019-07-012019-09-300000037996us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2020-07-012020-09-300000037996us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2019-01-012019-09-300000037996us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2020-01-012020-09-300000037996us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMember2019-07-012019-09-300000037996us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMember2020-07-012020-09-300000037996us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMember2019-01-012019-09-300000037996us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMember2020-01-012020-09-300000037996us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateContractMember2019-07-012019-09-300000037996us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateContractMember2020-07-012020-09-300000037996us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateContractMember2019-01-012019-09-300000037996us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateContractMember2020-01-012020-09-300000037996us-gaap:FairValueHedgingMemberus-gaap:CrossCurrencyInterestRateContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-07-012019-09-300000037996us-gaap:FairValueHedgingMemberus-gaap:CrossCurrencyInterestRateContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-07-012020-09-300000037996us-gaap:FairValueHedgingMemberus-gaap:CrossCurrencyInterestRateContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-01-012019-09-300000037996us-gaap:FairValueHedgingMemberus-gaap:CrossCurrencyInterestRateContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-01-012020-09-300000037996us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2019-07-012019-09-300000037996us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2020-07-012020-09-300000037996us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2019-01-012019-09-300000037996us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2020-01-012020-09-300000037996us-gaap:NondesignatedMemberus-gaap:CrossCurrencyInterestRateContractMember2019-07-012019-09-300000037996us-gaap:NondesignatedMemberus-gaap:CrossCurrencyInterestRateContractMember2020-07-012020-09-300000037996us-gaap:NondesignatedMemberus-gaap:CrossCurrencyInterestRateContractMember2019-01-012019-09-300000037996us-gaap:NondesignatedMemberus-gaap:CrossCurrencyInterestRateContractMember2020-01-012020-09-300000037996us-gaap:NondesignatedMemberus-gaap:InterestRateContractMember2019-07-012019-09-300000037996us-gaap:NondesignatedMemberus-gaap:InterestRateContractMember2020-07-012020-09-300000037996us-gaap:NondesignatedMemberus-gaap:InterestRateContractMember2019-01-012019-09-300000037996us-gaap:NondesignatedMemberus-gaap:InterestRateContractMember2020-01-012020-09-300000037996us-gaap:NondesignatedMemberus-gaap:CommodityContractMember2019-07-012019-09-300000037996us-gaap:NondesignatedMemberus-gaap:CommodityContractMember2020-07-012020-09-300000037996us-gaap:NondesignatedMemberus-gaap:CommodityContractMember2019-01-012019-09-300000037996us-gaap:NondesignatedMemberus-gaap:CommodityContractMember2020-01-012020-09-300000037996us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberus-gaap:CostOfSalesMember2019-07-012019-09-300000037996us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberus-gaap:CostOfSalesMember2019-01-012019-09-300000037996us-gaap:NondesignatedMemberus-gaap:NonoperatingIncomeExpenseMemberus-gaap:ForeignExchangeContractMember2019-07-012019-09-300000037996us-gaap:NondesignatedMemberus-gaap:NonoperatingIncomeExpenseMemberus-gaap:ForeignExchangeContractMember2019-01-012019-09-300000037996us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberus-gaap:CostOfSalesMember2020-07-012020-09-300000037996us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberus-gaap:CostOfSalesMember2020-01-012020-09-300000037996us-gaap:NondesignatedMemberus-gaap:NonoperatingIncomeExpenseMemberus-gaap:ForeignExchangeContractMember2020-07-012020-09-300000037996us-gaap:NondesignatedMemberus-gaap:NonoperatingIncomeExpenseMemberus-gaap:ForeignExchangeContractMember2020-01-012020-09-300000037996us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2019-12-310000037996us-gaap:CashFlowHedgingMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2019-12-310000037996us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2020-09-300000037996us-gaap:CashFlowHedgingMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2020-09-300000037996us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMember2019-12-310000037996us-gaap:CashFlowHedgingMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMember2019-12-310000037996us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMember2020-09-300000037996us-gaap:CashFlowHedgingMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CommodityContractMember2020-09-300000037996us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateContractMember2019-12-310000037996us-gaap:FairValueHedgingMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateContractMember2019-12-310000037996us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateContractMember2020-09-300000037996us-gaap:FairValueHedgingMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateContractMember2020-09-300000037996us-gaap:FairValueHedgingMemberus-gaap:CrossCurrencyInterestRateContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-12-310000037996us-gaap:FairValueHedgingMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CrossCurrencyInterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-12-310000037996us-gaap:FairValueHedgingMemberus-gaap:CrossCurrencyInterestRateContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-09-300000037996us-gaap:FairValueHedgingMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CrossCurrencyInterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-09-300000037996us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2019-12-310000037996us-gaap:NondesignatedMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeContractMember2019-12-310000037996us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2020-09-300000037996us-gaap:NondesignatedMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeContractMember2020-09-300000037996us-gaap:NondesignatedMemberus-gaap:CrossCurrencyInterestRateContractMember2019-12-310000037996us-gaap:NondesignatedMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CrossCurrencyInterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMember2019-12-310000037996us-gaap:NondesignatedMemberus-gaap:CrossCurrencyInterestRateContractMember2020-09-300000037996us-gaap:NondesignatedMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CrossCurrencyInterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMember2020-09-300000037996us-gaap:NondesignatedMemberus-gaap:InterestRateContractMember2019-12-310000037996us-gaap:NondesignatedMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateContractMember2019-12-310000037996us-gaap:NondesignatedMemberus-gaap:InterestRateContractMember2020-09-300000037996us-gaap:NondesignatedMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateContractMember2020-09-300000037996us-gaap:NondesignatedMemberus-gaap:CommodityContractMember2019-12-310000037996us-gaap:NondesignatedMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommodityContractMember2019-12-310000037996us-gaap:NondesignatedMemberus-gaap:CommodityContractMember2020-09-300000037996us-gaap:NondesignatedMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommodityContractMember2020-09-300000037996us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-310000037996us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-09-30xbrli:pure0000037996f:FordSollersJointVentureMember2019-06-300000037996f:FordSollersJointVentureMemberf:FordSollersNetherlandsBVMember2019-07-310000037996f:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-06-300000037996f:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2020-06-300000037996f:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2018-12-310000037996f:AutomotiveSegmentMemberus-gaap:OperatingSegmentsMember2019-09-300000037996us-gaap:PensionCostsMemberf:GlobalRedesignMember2019-07-012019-09-300000037996us-gaap:PensionCostsMemberf:GlobalRedesignMember2020-07-012020-09-300000037996us-gaap:PensionCostsMemberf:GlobalRedesignMember2019-01-012019-09-300000037996us-gaap:PensionCostsMemberf:GlobalRedesignMember2020-01-012020-09-300000037996f:AcceleratedDepreciationMemberf:GlobalRedesignMember2019-07-012019-09-300000037996f:AcceleratedDepreciationMemberf:GlobalRedesignMember2020-07-012020-09-300000037996f:AcceleratedDepreciationMemberf:GlobalRedesignMember2019-01-012019-09-300000037996f:AcceleratedDepreciationMemberf:GlobalRedesignMember2020-01-012020-09-300000037996f:AccelerateddepreciationseparationsandpaymentsMemberf:GlobalRedesignMembersrt:MinimumMember2020-09-300000037996srt:MaximumMemberf:AccelerateddepreciationseparationsandpaymentsMemberf:GlobalRedesignMember2020-09-300000037996f:VoluntarySeparationPackageMemberus-gaap:CostOfSalesMember2020-01-012020-03-310000037996f:AutomotiveSegmentBrazilAndRussiaMemberf:AutomotiveSegmentMemberus-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:FordIndiaAutomotiveSegmentMember2020-09-300000037996f:FordIndiaAutomotiveSegmentMemberus-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMember2020-09-300000037996f:FordIndiaAutomotiveSegmentMemberf:AutomotiveSegmentMemberus-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:FordIndiaAutomotiveSegmentMemberf:AutomotiveSegmentMemberus-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:FordIndiaAutomotiveSegmentMemberf:AutomotiveSegmentMemberus-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMemberus-gaap:OperatingSegmentsMember2019-01-012019-12-310000037996f:FordIndiaAutomotiveSegmentMemberf:AutomotiveSegmentMemberus-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300000037996f:FordIndiaAutomotiveSegmentMemberf:AutomotiveSegmentMemberus-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:FordIndiaAutomotiveSegmentMemberf:AutomotiveSegmentMemberus-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000037996f:MobilitySegmentMemberf:ArgoAIMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000037996f:MobilitySegmentMemberf:ArgoAIMemberus-gaap:OperatingSegmentsMemberus-gaap:OtherIncomeMember2020-07-012020-09-300000037996f:MobilitySegmentMemberf:ArgoAIMemberus-gaap:OperatingSegmentsMemberf:EquityinnetassetsofaffiliatedcompaniesMember2020-09-300000037996us-gaap:OtherAssetsMemberf:MobilitySegmentMemberf:ArgoAIMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:MobilitySegmentMemberf:ArgoAIMemberus-gaap:OperatingSegmentsMember2020-09-300000037996f:FordCreditMemberus-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMemberf:ForsoNordicABMemberus-gaap:OperatingSegmentsMember2019-10-012019-12-310000037996f:FordCreditMemberus-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMemberf:ForsoNordicABMemberus-gaap:OperatingSegmentsMember2019-12-310000037996f:FordCreditMemberus-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMemberf:ForsoNordicABMemberus-gaap:OperatingSegmentsMemberus-gaap:OtherIncomeMember2020-02-282020-02-280000037996f:FordCreditMemberus-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMemberf:ForsoNordicABMemberus-gaap:OperatingSegmentsMember2020-02-282020-02-280000037996srt:ParentCompanyMember2019-06-300000037996srt:ParentCompanyMember2020-06-300000037996srt:ParentCompanyMember2018-12-310000037996srt:ParentCompanyMember2019-12-310000037996srt:ParentCompanyMember2019-07-012019-09-300000037996srt:ParentCompanyMember2020-07-012020-09-300000037996srt:ParentCompanyMember2019-01-012019-09-300000037996srt:ParentCompanyMember2020-01-012020-09-300000037996srt:ParentCompanyMember2019-09-300000037996srt:ParentCompanyMember2020-09-300000037996us-gaap:FinancialGuaranteeMember2019-12-310000037996us-gaap:FinancialGuaranteeMember2020-09-300000037996us-gaap:IndemnificationGuaranteeMember2019-12-310000037996us-gaap:IndemnificationGuaranteeMember2020-09-300000037996us-gaap:MarketValueGuaranteeMember2020-09-300000037996us-gaap:CorporateNonSegmentMember2019-07-012019-09-300000037996us-gaap:MaterialReconcilingItemsMemberf:InterestonDebtDomain2019-07-012019-09-300000037996us-gaap:MaterialReconcilingItemsMemberf:SpecialItemsMember2019-07-012019-09-300000037996f:AdjustmentsMemberus-gaap:MaterialReconcilingItemsMember2019-07-012019-09-300000037996f:MobilitySegmentMemberus-gaap:OperatingSegmentsMember2019-09-300000037996f:FordCreditMemberus-gaap:OperatingSegmentsMember2019-09-300000037996us-gaap:CorporateNonSegmentMember2019-09-300000037996us-gaap:MaterialReconcilingItemsMemberf:InterestonDebtDomain2019-09-300000037996us-gaap:MaterialReconcilingItemsMemberf:SpecialItemsMember2019-09-300000037996f:AdjustmentsMemberus-gaap:MaterialReconcilingItemsMember2019-09-300000037996us-gaap:CorporateNonSegmentMember2020-07-012020-09-300000037996us-gaap:MaterialReconcilingItemsMemberf:InterestonDebtDomain2020-07-012020-09-300000037996us-gaap:MaterialReconcilingItemsMemberf:SpecialItemsMember2020-07-012020-09-300000037996f:AdjustmentsMemberus-gaap:MaterialReconcilingItemsMember2020-07-012020-09-300000037996us-gaap:CorporateNonSegmentMember2020-09-300000037996us-gaap:MaterialReconcilingItemsMemberf:InterestonDebtDomain2020-09-300000037996us-gaap:MaterialReconcilingItemsMemberf:SpecialItemsMember2020-09-300000037996f:AdjustmentsMemberus-gaap:MaterialReconcilingItemsMember2020-09-300000037996us-gaap:CorporateNonSegmentMember2019-01-012019-09-300000037996us-gaap:MaterialReconcilingItemsMemberf:InterestonDebtDomain2019-01-012019-09-300000037996us-gaap:MaterialReconcilingItemsMemberf:SpecialItemsMember2019-01-012019-09-300000037996f:AdjustmentsMemberus-gaap:MaterialReconcilingItemsMember2019-01-012019-09-300000037996us-gaap:CorporateNonSegmentMember2020-01-012020-09-300000037996us-gaap:MaterialReconcilingItemsMemberf:InterestonDebtDomain2020-01-012020-09-300000037996us-gaap:MaterialReconcilingItemsMemberf:SpecialItemsMember2020-01-012020-09-300000037996f:AdjustmentsMemberus-gaap:MaterialReconcilingItemsMember2020-01-012020-09-30

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 10-Q

Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the quarterly period ended September 30, 2020

or

Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the transition period from  __________ to __________
Commission file number 1-3950

Ford Motor Company
(Exact name of Registrant as specified in its charter)
Delaware 38-0549190
(State of incorporation) (I.R.S. Employer Identification No.)
One American Road
Dearborn, Michigan 48126
(Address of principal executive offices) (Zip code)
313-322-3000
(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading symbol(s) Name of each exchange on which registered
Common Stock, par value $.01 per share F New York Stock Exchange
6.200% Notes due June 1, 2059 FPRB New York Stock Exchange
6.000% Notes due December 1, 2059 FPRC New York Stock Exchange

Indicate by check mark if the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes     No  

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).  Yes     No  

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.  See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.  
Large Accelerated Filer Accelerated filer Non-accelerated filer Smaller reporting company Emerging growth company 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes  No 

As of October 23, 2020, Ford had outstanding 3,907,575,284 shares of Common Stock and 70,852,076 shares of Class B Stock.
Exhibit Index begins on page



FORD MOTOR COMPANY
QUARTERLY REPORT ON FORM 10-Q
For the Quarter Ended September 30, 2020
  Table of Contents Page
  Part I - Financial Information  
Item 1 Financial Statements
1
Consolidated Statements of Cash Flows
1
Consolidated Income Statements
2
Consolidated Statements of Comprehensive Income
2
Consolidated Balance Sheets
3
Consolidated Statements of Equity
4
Notes to the Financial Statements
5
Item 2 Management’s Discussion and Analysis of Financial Condition and Results of Operations
Recent Developments
Results of Operations
Automotive Segment
Mobility Segment
Ford Credit Segment
Corporate Other
Interest on Debt
Taxes
Liquidity and Capital Resources
Credit Ratings
Outlook
Cautionary Note on Forward-Looking Statements
Non-GAAP Financial Measures That Supplement GAAP Measures
Non-GAAP Financial Measure Reconciliations
Supplemental Information
Critical Accounting Estimates
Accounting Standards Issued But Not Yet Adopted
Item 3 Quantitative and Qualitative Disclosures About Market Risk
Item 4 Controls and Procedures
Part II - Other Information
Item 1 Legal Proceedings
Item 1A Risk Factors
Item 6 Exhibits
Signature

i


PART I. FINANCIAL INFORMATION
ITEM 1. Financial Statements.
FORD MOTOR COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
For the periods ended September 30,
  2019 2020
First Nine Months
(unaudited)
Cash flows from operating activities    
Net income/(loss) $ 1,756  $ 1,515 
Depreciation and tooling amortization 7,310  6,670 
Other amortization (891) (938)
Held-for-sale impairment charges (Note 17) 799  21 
Provision for credit and insurance losses 292  866 
Pension and other post-retirement employee benefits (“OPEB”) expense/(income) 401  (454)
Equity investment dividends received in excess of (earnings)/losses 73  132 
Foreign currency adjustments 49  (216)
Net (gain)/loss on changes in investments in affiliates (46) (3,483)
Stock compensation 238  170 
Provision for deferred income taxes (403) 978 
Decrease/(Increase) in finance receivables (wholesale and other) 2,792  11,006 
Decrease/(Increase) in accounts receivable and other assets (1,023) 74 
Decrease/(Increase) in inventory (1,790) (202)
Increase/(Decrease) in accounts payable and accrued and other liabilities 5,226  3,858 
Other (44) (267)
Net cash provided by/(used in) operating activities 14,739  19,730 
Cash flows from investing activities
Capital spending (5,358) (4,211)
Acquisitions of finance receivables and operating leases (41,142) (43,473)
Collections of finance receivables and operating leases 37,854  36,536 
Proceeds from sale of business (Note 17) —  1,340 
Purchases of marketable securities and other investments (12,367) (27,401)
Sales and maturities of marketable securities and other investments 12,532  24,402 
Settlements of derivatives 163  (407)
Other (53) 344 
Net cash provided by/(used in) investing activities (8,371) (12,870)
Cash flows from financing activities    
Cash payments for dividends and dividend equivalents (1,794) (596)
Purchases of common stock (237)  
Net changes in short-term debt (1,094) (2,815)
Proceeds from issuance of long-term debt 35,705  54,325 
Principal payments on long-term debt (34,847) (50,641)
Other (173) (242)
Net cash provided by/(used in) financing activities (2,440) 31 
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (154) (160)
Net increase/(decrease) in cash, cash equivalents, and restricted cash $ 3,774  $ 6,731 
Cash, cash equivalents, and restricted cash at beginning of period (Note 7) $ 16,907  $ 17,741 
Net increase/(decrease) in cash, cash equivalents, and restricted cash 3,774  6,731 
Cash, cash equivalents, and restricted cash at end of period (Note 7) $ 20,681  $ 24,472 

The accompanying notes are part of the consolidated financial statements.
1

Item 1. Financial Statements (continued)
FORD MOTOR COMPANY AND SUBSIDIARIES
CONSOLIDATED INCOME STATEMENTS
(in millions, except per share amounts)
For the periods ended September 30,
  2019 2020 2019 2020
  Third Quarter First Nine Months
(unaudited)
Revenues    
Automotive $ 33,931  $ 34,707  $ 106,928  $ 82,669 
Ford Credit 3,045  2,774  9,231  8,480 
Mobility 14  20  26  43 
Total revenues (Note 3) 36,990  37,501  116,185  91,192 
Costs and expenses    
Cost of sales 32,282  31,223  99,881  79,677 
Selling, administrative, and other expenses 2,601  2,266  8,169  6,663 
Ford Credit interest, operating, and other expenses 2,368  1,661  7,104  6,818 
Total costs and expenses 37,251  35,150  115,154  93,158 
Operating income/(loss) (261) 2,351  1,031  (1,966)
Interest expense on Automotive debt 262  487  723  1,140 
Interest expense on Other debt 14  11  42  35 
Other income/(loss), net (Note 4) 534  845  1,434  5,843 
Equity in net income/(loss) of affiliated companies (16) 58  96  (8)
Income/(Loss) before income taxes (19) 2,756  1,796  2,694 
Provision for/(Benefit from) income taxes (442) 366  40  1,179 
Net income/(loss) 423  2,390  1,756  1,515 
Less: Income/(Loss) attributable to noncontrolling interests (2) 5  37  6 
Net income/(loss) attributable to Ford Motor Company $ 425  $ 2,385  $ 1,719  $ 1,509 
EARNINGS PER SHARE ATTRIBUTABLE TO FORD MOTOR COMPANY COMMON AND CLASS B STOCK (Note 6)
Basic income/(loss) $ 0.11  $ 0.60  $ 0.43  $ 0.38 
Diluted income/(loss) 0.11  0.60  0.43  0.38 
Weighted-average shares used in computation of earnings per share
Basic shares 3,970 3,976 3,976 3,971
Diluted shares 4,007 4,005 4,006 3,997

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(in millions)
  For the periods ended September 30,
  2019 2020 2019 2020
  Third Quarter First Nine Months
(unaudited)
Net income/(loss) $ 423  $ 2,390  $ 1,756  $ 1,515 
Other comprehensive income/(loss), net of tax (Note 18)
Foreign currency translation (360) (70) (244) (1,625)
Marketable securities (17) 130  96 
Derivative instruments (69) (71) (398) 597 
Pension and other postretirement benefits 15  15  36  46 
Total other comprehensive income/(loss), net of tax (406) (143) (476) (886)
Comprehensive income/(loss) 17  2,247  1,280  629 
Less: Comprehensive income/(loss) attributable to noncontrolling interests
(2) 4  37  5 
Comprehensive income/(loss) attributable to Ford Motor Company $ 19  $ 2,243  $ 1,243  $ 624 

The accompanying notes are part of the consolidated financial statements.
2

Item 1. Financial Statements (continued)
FORD MOTOR COMPANY AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in millions)
  December 31,
2019
September 30,
2020
  (unaudited)
ASSETS    
Cash and cash equivalents (Note 7) $ 17,504  $ 24,263 
Marketable securities (Note 7) 17,147  20,568 
Ford Credit finance receivables, net of allowance for credit losses of $162 and $394 (Note 8)
53,651  41,847 
Trade and other receivables, less allowances of $63 and $80
9,237  10,114 
Inventories (Note 9) 10,786  10,583 
Assets held for sale (Note 17) 2,383  676 
Other assets 3,339  3,714 
Total current assets 114,047  111,765 
Ford Credit finance receivables, net of allowance for credit losses of $351 and $920 (Note 8)
53,703  55,659 
Net investment in operating leases 29,230  27,895 
Net property 36,469  36,118 
Equity in net assets of affiliated companies 2,519  4,741 
Deferred income taxes 11,863  10,907 
Other assets 10,706  12,858 
Total assets $ 258,537  $ 259,943 
LIABILITIES    
Payables $ 20,673  $ 21,466 
Other liabilities and deferred revenue (Note 12) 22,987  20,293 
Automotive debt payable within one year (Note 14) 1,445  1,368 
Ford Credit debt payable within one year (Note 14) 52,371  49,447 
Other debt payable within one year (Note 14) 130  180 
Liabilities held for sale (Note 17) 526  405 
Total current liabilities 98,132  93,159 
Other liabilities and deferred revenue (Note 12) 25,324  26,826 
Automotive long-term debt (Note 14) 13,233  22,363 
Ford Credit long-term debt (Note 14) 87,658  83,626 
Other long-term debt (Note 14) 470  291 
Deferred income taxes 490  517 
Total liabilities 225,307  226,782 
EQUITY    
Common Stock, par value $0.01 per share (4,025 million shares issued of 6 billion authorized)
40  40 
Class B Stock, par value $0.01 per share (71 million shares issued of 530 million authorized)
1 
Capital in excess of par value of stock 22,165  22,262 
Retained earnings 20,320  21,031 
Accumulated other comprehensive income/(loss) (Note 18) (7,728) (8,613)
Treasury stock (1,613) (1,596)
Total equity attributable to Ford Motor Company 33,185  33,125 
Equity attributable to noncontrolling interests 45  36 
Total equity 33,230  33,161 
Total liabilities and equity $ 258,537  $ 259,943 
The following table includes assets to be used to settle liabilities of the consolidated variable interest entities (“VIEs”). These assets and liabilities are included in the consolidated balance sheets above.
December 31,
2019
September 30,
2020
(unaudited)
ASSETS    
Cash and cash equivalents $ 3,202  $ 2,905 
Ford Credit finance receivables, net 58,478  48,490 
Net investment in operating leases 14,883  14,613 
Other assets 12   
LIABILITIES
Other liabilities and deferred revenue $ 19  $ 69 
Debt 50,865  44,766 

The accompanying notes are part of the consolidated financial statements.
3

Item 1. Financial Statements (Continued)
FORD MOTOR COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EQUITY
(in millions, unaudited)
  Equity Attributable to Ford Motor Company  
  Capital Stock Cap. In Excess of Par Value of Stock Retained Earnings Accumulated Other Comprehensive Income/(Loss) (Note 18) Treasury Stock Total Equity Attributable to Non-controlling Interests Total
Equity
Balance at December 31, 2018 $ 41  $ 22,006  $ 22,668  $ (7,366) $ (1,417) $ 35,932  $ 34  $ 35,966 
Adoption of accounting standards —  —  13  —  —  13  —  13 
Net income/(loss) —  —  1,146  —  —  1,146  37  1,183 
Other comprehensive income/(loss), net
—  —  —  (135) —  (135) —  (135)
Common stock issued (a)
—  20  —  —  —  20  —  20 
Treasury stock/other  —  —  —  —  23  23  (35) (12)
Dividends and dividend equivalents declared ($0.15 per share) (b)
—  —  (601) —  —  (601) —  (601)
Balance at March 31, 2019 $ 41  $ 22,026  $ 23,226  $ (7,501) $ (1,394) $ 36,398  $ 36  $ 36,434 
Net income/(loss) —  —  148  —  —  148  150 
Other comprehensive income/(loss), net
—  —  —  65  —  65  —  65 
Common stock issued (a)
—  85  —  —  —  85  —  85 
Treasury stock/other  —  —  —  — 
Dividends and dividend equivalents declared ($0.15 per share) (b)
—  —  (605) —  —  (605) —  (605)
Balance at June 30, 2019 $ 41  $ 22,111  $ 22,769  $ (7,436) $ (1,388) $ 36,097  $ 39  $ 36,136 
Net income/(loss) —  —  425  —  —  425  (2) 423 
Other comprehensive income/(loss), net
—  —  —  (406) —  (406) —  (406)
Common stock issued (a)
—  68  —  —  —  68  —  68 
Treasury stock/other —  —  —  —  (231) (231) (230)
Dividends and dividend equivalents declared ($0.15 per share) (b)
—  —  (604) —  —  (604) —  (604)
Balance at September 30, 2019 $ 41  $ 22,179  $ 22,590  $ (7,842) $ (1,619) $ 35,349  $ 38  $ 35,387 
Balance at December 31, 2019 $ 41  $ 22,165  $ 20,320  $ (7,728) $ (1,613) $ 33,185  $ 45  $ 33,230 
Adoption of accounting standards
—  —  (202) —  —  (202) —  (202)
Net income/(loss) —  —  (1,993) —  —  (1,993) —  (1,993)
Other comprehensive income/(loss), net
—  —  —  (733) —  (733) —  (733)
Common stock issued (a)
—  (15) —  —  —  (15) —  (15)
Treasury stock/other  —  —  —  — 
Dividends and dividend equivalents declared ($0.15 per share) (b)
—  —  (598) —  —  (598) —  (598)
Balance at March 31, 2020 $ 41  $ 22,150  $ 17,527  $ (8,461) $ (1,607) $ 29,650  $ 48  $ 29,698 
Net income/(loss) —  —  1,117  —  —  1,117  1,118 
Other comprehensive income/(loss), net
—  —  —  (10) —  (10) —  (10)
Common stock issued (a)
—  60  —  —  —  60  —  60 
Treasury stock/other  —  —  —  —  (18) (12)
Dividends and dividend equivalents declared (b)
—  —  —  —  — 
Balance at June 30, 2020 $ 41  $ 22,210  $ 18,645  $ (8,471) $ (1,601) $ 30,824  $ 31  $ 30,855 
Net income/(loss)     2,385      2,385  5  2,390 
Other comprehensive income/(loss), net
      (142)   (142) (1) (143)
Common stock issued (a)
  52        52    52 
Treasury stock/other         5  5  1  6 
Dividends and dividend equivalents declared (b)
    1      1    1 
Balance at September 30, 2020 $ 41  $ 22,262  $ 21,031  $ (8,613) $ (1,596) $ 33,125  $ 36  $ 33,161 
__________
(a)Includes impacts of share-based compensation.
(b)Dividends and dividend equivalents declared for Common and Class B Stock.

The accompanying notes are part of the consolidated financial statements.
4

Item 1. Financial Statements (Continued)
FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS

Table of Contents
Footnote   Page
Note 1 Presentation
6
Note 2 New Accounting Standards
7
Note 3 Revenue
8
Note 4 Other Income/(Loss)
9
Note 5 Income Taxes
9
Note 6 Capital Stock and Earnings Per Share
Note 7 Cash, Cash Equivalents, and Marketable Securities
Note 8 Ford Credit Finance Receivables and Allowance for Credit Losses
Note 9 Inventories
Note 10 Other Investments
Note 11 Goodwill
Note 12 Other Liabilities and Deferred Revenue
Note 13 Retirement Benefits
Note 14 Debt
Note 15 Derivative Financial Instruments and Hedging Activities
Note 16 Employee Separation Actions and Exit and Disposal Activities
Note 17 Held-for-Sale Operations and Changes in Investments in Affiliates
Note 18 Accumulated Other Comprehensive Income/(Loss)
Note 19 Commitments and Contingencies
Note 20 Segment Information
5

Item 1. Financial Statements (Continued)

FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
NOTE 1.  PRESENTATION

For purposes of this report, “Ford,” the “Company,” “we,” “our,” “us,” or similar references mean Ford Motor Company, our consolidated subsidiaries, and our consolidated VIEs of which we are the primary beneficiary, unless the context requires otherwise. We also make reference to Ford Motor Credit Company LLC, herein referenced to as Ford Credit. 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.

In the opinion of management, these unaudited financial statements reflect a fair statement of our results of operations and financial condition for the periods, and at the dates, presented.  The results for interim periods are not necessarily indicative of results that may be expected for any other interim period or for the full year.  Reference should be made to the financial statements contained in our Annual Report on Form 10-K for the year ended December 31, 2019 (“2019 Form 10-K Report”).

Global Pandemic

On March 11, 2020, the World Health Organization characterized the outbreak of COVID-19 as a global pandemic and recommended containment and mitigation measures.  As a result, extraordinary actions were taken by international, federal, state, and local public health and governmental authorities to contain and combat the outbreak and spread of COVID-19 in regions throughout the world. These actions included travel bans, quarantines, “stay-at-home” orders, and similar mandates for many individuals to substantially restrict daily activities and for many businesses to curtail or cease normal operations.

Consistent with the actions taken by governmental authorities, by late March 2020, we had idled all of our significant manufacturing operations in regions around the world. By May 2020, we restarted manufacturing operations in a phased manner at locations around the world.

Our results include adjustments to our assets and liabilities recorded during the first nine months of 2020 due to the impact of COVID-19, the most significant of which were a valuation allowance on certain deferred tax assets (see Note 5) and a charge to the provision for credit losses on Ford Credit’s finance receivables (see Note 8). The majority of these adjustments were recorded in the first quarter and there were no material adjustments to our assets and liabilities related to COVID-19 in the third quarter.
6

Item 1. Financial Statements (Continued)

FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
NOTE 2. NEW ACCOUNTING STANDARDS

Adoption of New Accounting Standards

Accounting Standards Update (“ASU”) 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments. On January 1, 2020, we adopted the new credit loss standard and all of the related amendments, which replaced the incurred loss impairment method with a method that reflects lifetime expected credit losses. We adopted the changes in accounting for credit losses by recognizing the cumulative effect of initially applying the new credit loss standard as an adjustment to the opening balance of Retained earnings. The comparative information has not been restated and continues to be reported under the accounting standard in effect for those periods.

The cumulative effect of the changes made to our consolidated balance sheet at January 1, 2020, for the adoption of ASU 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments, was as follows (in millions):
Balance at
December 31, 2019
Adjustments due to ASU 2016-13 Balance at
January 1, 2020
Assets
Ford Credit finance receivables, net, current $ 53,651  $ (69) $ 53,582 
Trade and other receivables, net 9,237  (3) 9,234 
Ford Credit finance receivables, net, non-current 53,703  (183) 53,520 
Equity in net assets of affiliated companies 2,519  (7) 2,512 
Deferred income taxes 11,863  11,865 
Liabilities
Deferred income taxes 490  (58) 432 
Equity
Retained earnings 20,320  (202) 20,118 

ASU 2020-04, Reference Rate Reform:  Facilitation of the Effects of Reference Rate Reform on Financial Reporting.  On April 1, 2020, we adopted the new standard, which provides optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by reference rate reform (e.g., discontinuation of LIBOR) if certain criteria are met. As of September 30, 2020, we have not yet elected any optional expedients provided in the standard.  We will apply the accounting relief as relevant contract and hedge accounting relationship modifications are made during the reference rate reform transition period. We do not expect the standard to have a material impact on our consolidated financial statements.

We also adopted the following ASUs during 2020, none of which had a material impact to our consolidated financial statements or financial statement disclosures:
ASU Effective Date
2020-01 Clarifying the Interaction between Equity Securities, Equity Method and Joint Ventures, and Derivatives and Hedging January 1, 2020
2018-18 Clarifying the Interaction between Collaborative Arrangements and Revenue from Contracts with Customers January 1, 2020
2018-15
Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract
January 1, 2020

Accounting Standards Issued But Not Yet Adopted

The Company considers the applicability and impact of all ASUs.  ASUs were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial statements.
7

Item 1. Financial Statements (Continued)

FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
NOTE 3. REVENUE

    The following table disaggregates our revenue by major source for the periods ended September 30 (in millions):
Third Quarter 2019
Automotive Mobility Ford Credit Consolidated
Vehicles, parts, and accessories $ 32,609  $ —  $ —  $ 32,609 
Used vehicles 647  —  —  647 
Extended service contracts 347  —  —  347 
Other revenue 183  14  55  252 
Revenues from sales and services
33,786  14  55  33,855 
Leasing income 145  —  1,480  1,625 
Financing income —  —  1,472  1,472 
Insurance income —  —  38  38 
Total revenues $ 33,931  $ 14  $ 3,045  $ 36,990 
Third Quarter 2020
Automotive Mobility Ford Credit Consolidated
Vehicles, parts, and accessories $ 33,005  $ —  $ —  $ 33,005 
Used vehicles 818  —  —  818 
Extended service contracts 356  —  —  356 
Other revenue 438  20  37  495 
Revenues from sales and services
34,617  20  37  34,674 
Leasing income 90  —  1,407  1,497 
Financing income —  —  1,303  1,303 
Insurance income —  —  27  27 
Total revenues $ 34,707  $ 20  $ 2,774  $ 37,501 
First Nine Months 2019
Automotive Mobility Ford Credit Consolidated
Vehicles, parts, and accessories $ 102,420  $ —  $ —  $ 102,420 
Used vehicles 2,509  —  —  2,509 
Extended service contracts 1,028  —  —  1,028 
Other revenue 615  26  161  802 
Revenues from sales and services
106,572  26  161  106,759 
Leasing income 356  —  4,429  4,785 
Financing income —  —  4,521  4,521 
Insurance income —  —  120  120 
Total revenues $ 106,928  $ 26  $ 9,231  $ 116,185 
First Nine Months 2020
Automotive Mobility Ford Credit Consolidated
Vehicles, parts, and accessories $ 78,252  $ —  $ —  $ 78,252 
Used vehicles 2,282  —  —  2,282 
Extended service contracts 1,066  —  —  1,066 
Other revenue 836  43  122  1,001 
Revenues from sales and services
82,436  43  122  82,601 
Leasing income 233  —  4,267  4,500 
Financing income —  —  3,989  3,989 
Insurance income —  —  102  102 
Total revenues $ 82,669  $ 43  $ 8,480  $ 91,192 
8

Item 1. Financial Statements (Continued)

FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
NOTE 3. REVENUE (Continued)

The amount of consideration we receive and revenue we recognize on our vehicles, parts, and accessories varies with changes in return rights and marketing incentives we offer to our customers and their customers. Estimates of marketing incentives are based on expected retail and fleet sales volumes, mix of products to be sold, and incentive programs to be offered. Customer acceptance of products and programs, as well as other market conditions, will impact these estimates. As a result of changes in our estimate of marketing incentives, we recorded a decrease in revenue of $454 million in the third quarter of 2019 and an increase in revenue of $168 million in the third quarter of 2020 related to revenue recognized in prior periods.

We sell separately-priced service contracts that extend mechanical and maintenance coverages beyond our base warranty agreements to vehicle owners (“extended service contracts”). We had a balance of $4.2 billion and $4.1 billion of unearned revenue associated with outstanding contracts reported in Other liabilities and deferred revenue at December 31, 2019 and September 30, 2020, respectively. We expect to recognize approximately $300 million of the unearned amount in the remainder of 2020, $1.2 billion in 2021, and $2.6 billion thereafter. We recognized $274 million and $295 million of unearned amounts as revenue during the third quarter of 2019 and 2020, respectively, and $864 million and $901 million in the first nine months of 2019 and 2020, respectively.

Amounts paid to dealers to obtain these contracts are deferred and recorded as Other assets. We had a balance of $270 million and $278 million in deferred costs as of December 31, 2019 and September 30, 2020, respectively. We recognized $17 million and $20 million of amortization during the third quarter of 2019 and 2020, respectively, and $56 million and $59 million in the first nine months of 2019 and 2020, respectively.

NOTE 4. OTHER INCOME/(LOSS)

The amounts included in Other income/(loss), net for the periods ended September 30 were as follows (in millions):
Third Quarter First Nine Months
  2019 2020 2019 2020
Net periodic pension and OPEB income/(cost), excluding service cost
$ (21) $ 277  $ 362  $ 1,272 
Investment-related interest income 202  90  612  374 
Interest income/(expense) on income taxes
(5) (4) (26) (15)
Realized and unrealized gains/(losses) on cash equivalents, marketable securities, and other investments
199  297  79  312 
Gains/(Losses) on changes in investments in affiliates (a)
44  46  3,483 
Gains/(Losses) on extinguishment of debt
(1) —  (54) (1)
Royalty income 91  139  283  322 
Other 25  43  132  96 
Total $ 534  $ 845  $ 1,434  $ 5,843 
__________
(a)See Note 17 for additional information relating to our Argo AI, LLC (“Argo AI”) and Volkswagen AG (“VW”) transaction.

NOTE 5. INCOME TAXES

For interim tax reporting, we estimate one single effective tax rate for tax jurisdictions not subject to a valuation allowance, 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.

Based on all available evidence, we established a valuation allowance against certain net operating losses and tax credits of $1 billion during the first nine months of 2020, as it is more likely than not that these deferred tax assets will not be realized. In assessing the realizability of deferred tax assets, we consider the trade-offs between cash preservation and cash outlays to preserve tax credits.
9

Item 1. Financial Statements (Continued)

FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
NOTE 6. CAPITAL STOCK AND EARNINGS PER SHARE

Earnings Per Share Attributable to Ford Motor Company Common and Class B Stock

Basic and diluted income/(loss) per share were calculated using the following (in millions):
Third Quarter First Nine Months
  2019 2020 2019 2020
Basic and Diluted Income/(Loss) Attributable to Ford Motor Company    
Basic income/(loss) $ 425  $ 2,385  $ 1,719  $ 1,509 
Diluted income/(loss) 425  2,385  1,719  1,509 
Basic and Diluted Shares    
Basic shares (average shares outstanding) 3,970  3,976  3,976  3,971 
Net dilutive options, unvested restricted stock units, and unvested restricted stock shares 37  29  30  26 
Diluted shares 4,007  4,005  4,006  3,997 

NOTE 7. CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES

Cash Equivalents

Cash and cash equivalents are highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of change in value due to interest rate, quoted price, or penalty on withdrawal. A debt security is classified as a cash equivalent if it meets these criteria and if it has a remaining time to maturity of three months or less from the date of purchase. Amounts on deposit and available upon demand, or negotiated to provide for daily liquidity without penalty, are classified as cash and cash equivalents. Time deposits, certificates of deposit, and money market accounts that meet the above criteria are reported at par value on our consolidated balance sheets.

Marketable Securities

Investments in securities with a maturity date greater than three months at the date of purchase, and other securities for which there is more than an insignificant risk of change in value due to interest rate, quoted price, or penalty on withdrawal, are classified as marketable securities.

Realized gains and losses and interest income on all of our marketable securities and unrealized gains and losses on securities not classified as available for sale are recorded in Other income/(loss), net. Unrealized gains and losses on available-for-sale securities are recognized in Unrealized gains and losses on securities, a component of Other comprehensive income/(loss), net of tax. Realized gains and losses and reclassifications of accumulated other comprehensive income into net income are measured using the specific identification method.

On a quarterly basis, we review our available-for-sale debt securities for credit losses. We compare the present value of cash flows expected to be collected from the security with the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis of the security, we determine if a credit loss allowance is necessary. If a credit loss allowance is necessary, we will record an allowance, limited by the amount that fair value is less than the amortized cost basis, and recognize the corresponding charge in Other income/(loss), net. Factors we consider include the severity of the impairment, the reason for the decline in value, interest rate changes, and counterparty long-term ratings.
10

Item 1. Financial Statements (Continued)

FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
NOTE 7. CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES (Continued)

The fair values of cash, cash equivalents, and marketable securities measured at fair value on a recurring basis were as follows (in millions):
December 31, 2019
  Fair Value Level Automotive Mobility Ford Credit Consolidated
Cash and cash equivalents    
U.S. government 1 $ 520  $ —  $ —  $ 520 
U.S. government agencies 2 125  —  —  125 
Non-U.S. government and agencies 2 601  —  350  951 
Corporate debt 2 642  —  604  1,246 
Total marketable securities classified as cash equivalents
1,888  —  954  2,842 
Cash, time deposits, and money market funds 6,432  117  8,113  14,662 
Total cash and cash equivalents $ 8,320  $ 117  $ 9,067  $ 17,504 
Marketable securities
U.S. government 1 $ 2,930  $ —  $ 195  $ 3,125 
U.S. government agencies 2 1,548  —  210  1,758 
Non-U.S. government and agencies 2 4,217  —  2,408  6,625 
Corporate debt 2 4,802  —  193  4,995 
Equities (a) 1 81  —  —  81 
Other marketable securities 2 273  —  290  563 
Total marketable securities $ 13,851  $ —  $ 3,296  $ 17,147 
Restricted cash $ 15  $ 21  $ 139  $ 175 
Cash, cash equivalents, and restricted cash in held-for-sale assets
$ —  $ —  $ 62  $ 62 
September 30, 2020
Fair Value Level Automotive Mobility Ford Credit Consolidated
Cash and cash equivalents    
U.S. government 1 $ 3,277  $ —  $ 1,217  $ 4,494 
U.S. government agencies 2 706  —  850  1,556 
Non-U.S. government and agencies 2 916  —  1,105  2,021 
Corporate debt 2 545  —  900  1,445 
Total marketable securities classified as cash equivalents
5,444  —  4,072  9,516 
Cash, time deposits, and money market funds 7,679  62  7,006  14,747 
Total cash and cash equivalents $ 13,123  $ 62  $ 11,078  $ 24,263 
Marketable securities
U.S. government 1 $ 3,724  $ —  $ 1,275  $ 4,999 
U.S. government agencies 2 3,124  —  235  3,359 
Non-U.S. government and agencies 2 3,645  —  2,111  5,756 
Corporate debt 2 5,292  —  313  5,605 
Equities (a) 1 299  —  —  299 
Other marketable securities 2 236  —  314  550 
Total marketable securities $ 16,320  $ —  $ 4,248  $ 20,568 
Restricted cash $ 30  $ $ 174  $ 209 
Cash, cash equivalents, and restricted cash in held-for-sale assets
$ —  $ —  $ —  $ — 
__________
(a)Net unrealized gains/losses incurred during the reporting periods on equity securities still held at December 31, 2019 and September 30, 2020 were a $44 million loss and a $111 million gain, respectively.
11

Item 1. Financial Statements (Continued)

FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
NOTE 7. CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES (Continued)

The cash equivalents and marketable securities accounted for as available-for-sale (“AFS”) securities were as follows (in millions):
December 31, 2019
Fair Value of Securities with
Contractual Maturities
  Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Within 1 Year After 1 Year through
5 Years
After 5 Years
Automotive    
U.S. government $ 2,839  $ 11  $ (1) $ 2,849  $ 1,028  $ 1,772  $ 49 
U.S. government agencies 1,445  (1) 1,446  830  589  27 
Non-U.S. government and agencies 3,925  20  (1) 3,944  1,546  2,398  — 
Corporate debt 5,029  53  —  5,082  1,837  3,245  — 
Other marketable securities 230  —  231  —  149  82 
Total
$ 13,468  $ 87  $ (3) $ 13,552  $ 5,241  $ 8,153  $ 158 
 
September 30, 2020
Fair Value of Securities with
Contractual Maturities
Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Within 1 Year After 1 Year through
5 Years
After 5 Years
Automotive
U.S. government $ 2,660  $ 52  $ —  $ 2,712  $ 987  $ 1,722  $
U.S. government agencies 2,187  15  (1) 2,201  708  1,371  122 
Non-U.S. government and agencies 2,907  39  —  2,946  1,085  1,851  10 
Corporate debt 5,549  102  (2) 5,649  1,727  3,897  25 
Other marketable securities 206  —  209  148  59 
Total
$ 13,509  $ 211  $ (3) $ 13,717  $ 4,509  $ 8,989  $ 219 

Sales proceeds and gross realized gains/losses from the sale of AFS securities for the periods ended September 30 were as follows (in millions):
Third Quarter First Nine Months
2019 2020 2019 2020
Automotive
Sales proceeds $ 1,176  $ 2,243  $ 4,176  $ 6,560 
Gross realized gains 16  44 
Gross realized losses —  10  11 
12

Item 1. Financial Statements (Continued)

FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
NOTE 7. CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES (Continued)

The present fair values and gross unrealized losses for cash equivalents and marketable securities accounted for as AFS securities that were in an unrealized loss position, aggregated by investment category and the length of time that individual securities have been in a continuous loss position, were as follows (in millions):
December 31, 2019
Less than 1 Year 1 Year or Greater Total
  Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses
Automotive    
U.S. government $ 183  $ (1) $ 50  $ —  $ 233  $ (1)
U.S. government agencies 370  (1) 344  —  714  (1)
Non-U.S. government and agencies 463  —  390  (1) 853  (1)
Corporate debt 29  —  53  —  82  — 
Other marketable securities 59  —  17  —  76  — 
Total
$ 1,104  $ (2) $ 854  $ (1) $ 1,958  $ (3)
 
September 30, 2020
Less than 1 Year 1 Year or Greater Total
Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses
Automotive
U.S. government $ 55  $ —  $ —  $ —  $ 55  $ — 
U.S. government agencies 170  —  42  (1) 212  (1)
Non-U.S. government and agencies 442  —  46  —  488  — 
Corporate debt 739  (2) —  748  (2)
Other marketable securities —  13  —  17  — 
Total
$ 1,410  $ (2) $ 110  $ (1) $ 1,520  $ (3)

We determine credit losses on available-for-sale debt securities using the specific identification method. During the first nine months of 2020, we did not recognize any credit loss. The unrealized losses on securities are due to changes in interest rates and market liquidity.

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,
2019
September 30,
2020
Cash and cash equivalents $ 17,504  $ 24,263 
Restricted cash (a) 175  209 
Cash, cash equivalents, and restricted cash in held-for-sale assets 62  — 
Total cash, cash equivalents, and restricted cash $ 17,741  $ 24,472 
__________
(a)Included in Other assets in the non-current assets section of our consolidated balance sheets.
13

Item 1. Financial Statements (Continued)

FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
NOTE 8. FORD CREDIT FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES

Ford Credit manages 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, Ford Credit defines "past due" as any payment, including principal and interest, that is at least 31 days past the contractual due date.

Ford Credit finance receivables, net were as follows (in millions):
  December 31,
2019
September 30,
2020
Consumer    
Retail installment contracts, gross $ 68,905  $ 73,246 
Finance leases, gross 8,566  8,244 
Retail financing, gross 77,471  81,490 
Unearned interest supplements (3,589) (4,091)
Consumer finance receivables 73,882  77,399 
Non-Consumer    
Dealer financing 33,985  21,421 
Non-Consumer finance receivables 33,985  21,421 
Total recorded investment $ 107,867  $ 98,820 
Recorded investment in finance receivables $ 107,867  $ 98,820 
Allowance for credit losses (513) (1,314)
Total finance receivables, net $ 107,354  $ 97,506 
Current portion $ 53,651  $ 41,847 
Non-current portion 53,703  55,659 
Total finance receivables, net $ 107,354  $ 97,506 
Net finance receivables subject to fair value (a) $ 99,168  $ 89,663 
Fair value (b) 99,297  91,068 
__________
(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.

Ford Credit’s finance leases are comprised of sales-type and direct financing leases. Financing revenue from finance leases for the third quarter of 2019 and 2020 was $90 million and $96 million, respectively, and for the first nine months of 2019 and 2020 was $279 million and $268 million, respectively, and is included in Ford Credit revenues on our consolidated income statements.

At December 31, 2019 and September 30, 2020, accrued interest was $251 million and $184 million, respectively, which we report in Other assets in the current assets section of our consolidated balance sheets.

Included in the recorded investment in finance receivables at December 31, 2019 and September 30, 2020, were consumer receivables of $38.3 billion and $41.1 billion, respectively, and non-consumer receivables of $26.8 billion and $17.4 billion, respectively, that have been sold for legal purposes in securitization transactions but continue to be reported in our consolidated financial statements. The receivables are available only for payment of the debt issued by, and other obligations of, the securitization entities that are parties to those securitization transactions; they are not available to pay the other obligations or the claims of Ford Credit’s other creditors. Ford Credit holds 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.
14

Item 1. Financial Statements (Continued)

FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
NOTE 8. FORD CREDIT FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Continued)

The value of finance receivables considered held for sale at December 31, 2019 was $1.5 billion, primarily made up of $1.2 billion of Forso Nordic AB (“Forso”) related finance receivables. At September 30, 2020, there were $38 million of certain wholesale finance receivables specifically identified as held for sale. These held-for-sale values are reported in Assets held for sale on our consolidated balance sheets. See Note 17 for additional information.

Credit Quality

Consumer Portfolio. Credit quality ratings for consumer receivables are based on aging. Consumer receivables credit quality ratings are as follows:

Pass – current to 60 days past due;
Special Mention – 61 to 120 days past due and in intensified collection status; and
Substandard – greater than 120 days past due and for which the uncollectible portion of the receivables has already been charged off, as measured using the fair value of collateral less costs to sell.

The credit quality analysis of consumer receivables at December 31, 2019 was as follows (in millions):
Total
Consumer
31 - 60 days past due $ 839 
61 - 120 days past due 166 
Greater than 120 days past due 35 
Total past due 1,040 
Current 72,842 
Total $ 73,882 

The credit quality analysis of consumer receivables at September 30, 2020 was as follows (in millions):
Amortized Cost Basis by Origination Year
Prior to 2016 2016 2017 2018 2019 2020 Total
Consumer
31 - 60 days past due $ 45  $ 58  $ 99  $ 141  $ 141  $ 76  $ 560 
61 - 120 days past due 14  28  45  48  22  164 
Greater than 120 days past due 13  43 
Total past due 65  79  134  194  196  99  767 
Current 1,141  3,290  8,001  15,444  22,492  26,264  76,632 
Total $ 1,206  $ 3,369  $ 8,135  $ 15,638  $ 22,688  $ 26,363  $ 77,399 

Non-Consumer Portfolio. Ford Credit uses 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 are considered most significant in predicting a dealer’s ability to meet its financial obligations. Ford Credit also considers numerous other financial and qualitative factors of the dealer’s operations, including capitalization and leverage, liquidity and cash flow, profitability, and credit history with Ford Credit and other creditors. The credit quality of dealer financing receivables is evaluated based on an internal dealer risk rating analysis.
15

Item 1. Financial Statements (Continued)

FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
NOTE 8. FORD CREDIT FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Continued)

Dealers are assigned to one of four groups according to risk ratings as follows:

Group I – strong to superior financial metrics;
Group II – fair to favorable financial metrics;
Group III – marginal to weak financial metrics; and
Group IV – poor financial metrics, including dealers classified as uncollectible.

The credit quality analysis of dealer financing receivables at December 31, 2019 was as follows (in millions):
Total
Dealer financing
Group I $ 26,281 
Group II 5,407 
Group III 2,108 
Group IV 189 
Total (a) $ 33,985 
__________
(a)Total past due dealer financing receivables at December 31, 2019 were $62 million.

The credit quality analysis of dealer financing receivables at September 30, 2020 was as follows (in millions):
Amortized Cost Basis by Origination Year Wholesale Loans
Dealer Loans
Prior to 2016 2016 2017 2018 2019 2020 Total Total
Group I $ 528  $ 130  $ 142  $ 132  $ 73  $ 300  $ 1,305  $ 13,823  $ 15,128 
Group II 46  21  15  35  89  210  4,520  4,730 
Group III —  17  41  73  1,356  1,429 
Group IV —  —  12  122  134 
Total (a)
$ 585  $ 154  $ 160  $ 184  $ 82  $ 435  $ 1,600  $ 19,821  $ 21,421 
__________
(a)Total past due dealer financing receivables at September 30, 2020 were $126 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.

Troubled Debt Restructuring (“TDR”). A restructuring of debt constitutes a TDR if a concession is granted to a debtor for economic or legal reasons related to the debtor’s financial difficulties that Ford Credit otherwise would not consider. Consumer and non-consumer receivables that have a modified interest rate below market rate or that were modified in reorganization proceedings pursuant to the U.S. Bankruptcy Code, except non-consumer receivables that are current with minimal risk of loss, are considered to be TDRs. Ford Credit does not grant concessions on the principal balance of the receivables. If a receivable is modified in a reorganization proceeding, all payment requirements of the reorganization plan need to be met before remaining balances are forgiven.

Ford Credit offered various programs to provide relief to customers and dealers impacted by COVID-19.  These programs, which were broadly available to all customers and dealers during the first half of 2020, included payment extensions.  Ford Credit concluded that these programs did not meet TDR criteria. As of September 30, 2020, in the United States, Ford Credit has received payments on nearly all the pandemic extensions offered to its customers, and no dealers were delinquent on their payments. The volume of payment extensions has returned to pre-COVID-19 levels and Ford Credit continues to grant payment extensions to customers and dealers under its normal business practices.
16

Item 1. Financial Statements (Continued)

FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
NOTE 8. FORD CREDIT FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Continued)

Allowance for Credit Losses

The allowance for credit losses represents an estimate of the lifetime expected credit losses inherent in finance receivables as of the balance sheet date.

Additions to the allowance for credit losses are made by recording charges to Ford Credit interest, operating, and other expenses 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 Ford Credit repossesses 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.

Consumer Portfolio

Receivables in this portfolio include products offered to individuals and businesses that finance the acquisition of Ford and Lincoln vehicles from dealers for personal or commercial use. Retail financing includes retail installment contracts for new and used vehicles and finance leases with retail customers, government entities, daily rental companies, and fleet customers.

For consumer receivables that share similar risk characteristics such as product type, initial credit risk, term, vintage, geography, and other relevant factors, Ford Credit estimates the lifetime expected credit loss allowance based on a collective assessment using measurement models and management judgment. The lifetime expected credit losses for the receivables is determined by applying probability of default and loss given default models to monthly expected exposures, then discounting these cash flows to present value using the receivable’s original effective interest rate or the current effective interest rate for a variable rate receivable. Probability of default models are developed from internal risk scoring models taking into account the expected probability of payment and time to default, adjusted for macroeconomic outlook and recent performance. The models consider factors such as risk evaluation at the time of origination, historical trends in credit losses (which include the impact of TDRs), and the composition and recent performance of the present portfolio (including vehicle brand, term, risk evaluation, and new / used vehicles). The loss given default is the percentage of the expected balance due at default that is not recoverable, taking into accou