Cash, Cash Equivalents, and Marketable Securities (Tables)

6 Months Ended

Jun. 30, 2020

Cash, Cash Equivalents, and Marketable Securities [Abstract]

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

The fair values of cash, cash equivalents, and marketable securities measured at fair value on a recurring basis were as follows (in millions):

		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
		June 30, 2020
	Fair Value Level	Automotive		Mobility		Ford Credit		Consolidated
Cash and cash equivalents
U.S. government	1	$	4,307	$	—	$	1,568	$	5,875
U.S. government agencies	2	1,950		—		825		2,775
Non-U.S. government and agencies	2	1,578		—		1,352		2,930
Corporate debt	2	719		—		992		1,711
Total marketable securities classified as cash equivalents		8,554		—		4,737		13,291
Cash, time deposits, and money market funds		9,540		57		8,101		17,698
Total cash and cash equivalents		$	18,094	$	57	$	12,838	$	30,989
Marketable securities
U.S. government	1	$	6,879	$	—	$	1,924	$	8,803
U.S. government agencies	2	5,118		—		410		5,528
Non-U.S. government and agencies	2	3,451		—		2,215		5,666
Corporate debt	2	5,358		—		223		5,581
Equities (a)	1	49		—		—		49
Other marketable securities	2	250		—		264		514
Total marketable securities		$	21,105	$	—	$	5,036	$	26,141
Restricted cash		$	21	$	6	$	165	$	192
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 June 30, 2020 were a $44 million loss and a $29 million loss, respectively.

Available-for-sale Securities [Table Text Block]

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		2		(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		1		—			231		—		149		82
Total	$	13,468	$	87	$	(3	)	$	13,552	$	5,241	$	8,153	$	158
	June 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	$	2,978	$	64	$	—		$	3,042	$	1,072	$	1,935	$	35
U.S. government agencies	1,938		15		—			1,953		704		1,126		123
Non-U.S. government and agencies	2,849		48		—			2,897		1,192		1,704		1
Corporate debt	5,751		106		(5		)	5,852		2,157		3,668		27
Other marketable securities	212		3		—			215		—		144		71
Total	$	13,728	$	236	$	(5	)	$	13,959	$	5,125	$	8,577	$	257

Sales proceeds and gross realized gains/losses from the sale of AFS securities for the periods ended June 30 were as follows (in millions):

	Second Quarter				First Half
	2019		2020		2019		2020
Automotive
Sales proceeds	$	1,858	$	2,452	$	3,000	$	4,317
Gross realized gains	3		21		5		28
Gross realized losses	5		3		10		10

Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block]

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	)
	June 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	$	357	$	—		$	—	$	—		$	357	$	—
U.S. government agencies	25		—			42		—			67		—
Non-U.S. government and agencies	319		—			36		—			355		—
Corporate debt	783		(4		)	11		(1		)	794		(5		)
Other marketable securities	7		—			16		—			23		—
Total	$	1,491	$	(4	)	$	105	$	(1	)	$	1,596	$	(5	)

Schedule Cash, Cash Equivalents, and Restricted Cash [Table Text Block]

Cash, cash equivalents, and restricted cash, as reported in the consolidated statements of cash flows, were as follows (in millions):

	December 31, 2019		June 30, 2020
Cash and cash equivalents (a)	$	17,504	$	30,989
Restricted cash (b)	175		192
Cash, cash equivalents, and restricted cash in held-for-sale assets	62		—
Total cash, cash equivalents, and restricted cash	$	17,741	$	31,181

__________

(a) Includes a $290 million cash compensating balance at June 30, 2020 in an interest-bearing savings account related to a $498 million debt obligation.

(b)

Included in Other assets in the non-current assets section of our consolidated balance sheets.