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Derivative Financial Instruments and Hedging Activities (Tables)
 3 Months Ended
Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Income Effect of Derivative Instruments [Table Text Block]
The gains/(losses), by hedge designation, recorded in income for the periods ended March 31 were as follows (in millions):

 
First Quarter
 
2015
 
2014
Automotive Sector
 
 
 
Cash flow hedges (a)
 
 
 
Reclassified from AOCI to income
$
(46
)
 
$
68

Ineffectiveness
—

 
—

Derivatives not designated as hedging instruments
 
 
 
Foreign currency exchange contracts
261

 
(44
)
Commodity contracts
(10
)
 
(12
)
Total
$
205

 
$
12

 
 
 
 
Financial Services Sector
 
 
 
Fair value hedges
 
 
 
Interest rate contracts
 
 
 
Net interest settlements and accruals excluded from the assessment of hedge effectiveness
$
88

 
$
69

Ineffectiveness (b)
6

 
5

Derivatives not designated as hedging instruments
 
 
 
Interest rate contracts
(43
)
 
(18
)
Foreign currency exchange contracts
65

 
(5
)
Cross-currency interest rate swap contracts
89

 
(5
)
Total
$
205

 
$
46

__________
(a)
For the first quarter of 2015 and 2014, $150 million loss and a $130 million gain, respectively, were recorded in Other comprehensive income.
(b)
For the first quarter of 2015 and 2014, hedge ineffectiveness reflects the net change in fair value on derivatives of $221 million gain and $105 million gain, respectively, and change in value on hedged debt attributable to the change in benchmark interest rates of $215 million loss and $100 million loss, respectively.
Balance Sheet Effect of Derivative Instruments [Table Text Block]
The notional amount and estimated fair value of our derivative financial instruments were as follows (in millions):

 
March 31, 2015
 
December 31, 2014
 
Notional
 
Fair Value of
Assets
 
Fair Value of
Liabilities
 
Notional
 
Fair Value of
Assets
 
Fair Value of
Liabilities
Automotive Sector
 
 
 
 
 
 
 
 
 
 
 
Cash flow hedges
 
 
 
 
 
 
 
 
 
 
 
Foreign currency exchange and commodity contracts
$
13,974

 
$
719

 
$
949

 
$
15,434

 
$
359

 
$
517

 
 
 
 
 
 
 
 
 
 
 
 
Derivatives not designated as hedging instruments
 
 
 
 
 
 
 
 
 
 
Foreign currency exchange contracts
16,317

 
378

 
266

 
12,198

 
157

 
129

Commodity contracts
656

 
5

 
51

 
693

 
1

 
67

Total derivative financial instruments, gross
$
30,947

 
1,102

 
1,266

 
$
28,325

 
517

 
713

Counterparty netting and collateral (a)


 
(952
)
 
(952
)
 


 
(463
)
 
(463
)
Total derivative financial instruments, net
 
$
150

 
$
314

 


 
$
54

 
$
250

 
 
 
 
 
 
 
 
 
 
 
 
Financial Services Sector
 

 
 

 
 

 
 
 
 
 
 
Fair value hedges
 

 
 

 
 

 
 
 
 
 
 
Interest rate contracts
$
22,859

 
$
736

 
$
26

 
$
23,203

 
$
602

 
$
38

 
 
 
 
 
 
 
 
 
 
 
 
Derivatives not designated as hedging instruments
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
59,942

 
233

 
150

 
56,558

 
168

 
89

Foreign currency exchange contracts
1,177

 
52

 
1

 
1,527

 
18

 
1

Cross-currency interest rate swap contracts
2,336

 
183

 
120

 
2,425

 
71

 
39

Total derivative financial instruments, gross
$
86,314

 
1,204

 
297

 
$
83,713

 
859

 
167

Counterparty netting and collateral (a)
 
 
(188
)
 
(188
)
 
 
 
(136
)
 
(136
)
Total derivative financial instruments, net
 
$
1,016

 
$
109




 
$
723

 
$
31


__________
(a)
At March 31, 2015 and December 31, 2014, we did not receive or pledge any cash collateral.