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New Accounting Standards New Accounting Standards (Policies)
 6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
New Accounting Pronouncements, Policy [Policy Text Block]
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

 
2

 
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 June 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.