Cash, Cash Equivalents, and Marketable Securities (Tables)

6 Months Ended

Jun. 30, 2024

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, 2023
	Fair Value Level	Company excluding Ford Credit		Ford Credit		Consolidated
Cash and cash equivalents
U.S. government	1	$	2,320	$	912	$	3,232
U.S. government agencies	2	2,075		625		2,700
Non-U.S. government and agencies	2	699		276		975
Corporate debt	2	1,617		101		1,718
Total marketable securities classified as cash equivalents		6,711		1,914		8,625
Cash, time deposits, and money market funds		7,493		8,744		16,237
Total cash and cash equivalents		$	14,204	$	10,658	$	24,862
Marketable securities
U.S. government	1	$	4,467	$	207	$	4,674
U.S. government agencies	2	1,774		49		1,823
Non-U.S. government and agencies	2	2,096		109		2,205
Corporate debt	2	5,807		268		6,075
Equities	1	23		—		23
Other marketable securities	2	353		156		509
Total marketable securities		$	14,520	$	789	$	15,309
Restricted cash		$	111	$	137	$	248
Cash, cash equivalents, and restricted cash - held for sale		$	—	$	—	$	—
		June 30, 2024
	Fair Value Level	Company excluding Ford Credit		Ford Credit		Consolidated
Cash and cash equivalents
U.S. government	1	$	250	$	60	$	310
U.S. government agencies	2	3,095		—		3,095
Non-U.S. government and agencies	2	400		283		683
Corporate debt	2	439		279		718
Total marketable securities classified as cash equivalents		4,184		622		4,806
Cash, time deposits, and money market funds		8,321		6,826		15,147
Total cash and cash equivalents		$	12,505	$	7,448	$	19,953
Marketable securities
U.S. government	1	$	4,021	$	227	$	4,248
U.S. government agencies	2	1,876		—		1,876
Non-U.S. government and agencies	2	2,358		55		2,413
Corporate debt	2	5,197		255		5,452
Equities	1	19		—		19
Other marketable securities	2	460		145		605
Total marketable securities		$	13,931	$	682	$	14,613
Restricted cash		$	123	$	105	$	228
Cash, cash equivalents, and restricted cash - held for sale (Note 15)		$	45	$	—	$	45

Debt Securities, Available-for-sale

The cash equivalents and marketable securities accounted for as available-for-sale (“AFS”) securities were as follows (in millions):

	December 31, 2023
									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
Company excluding Ford Credit
U.S. government	$	4,458	$	6	$	(66)	$	4,398	$	2,172	$	2,216	$	10
U.S. government agencies	2,053		4		(62)		1,995		490		1,487		18
Non-U.S. government and agencies	1,948		1		(75)		1,874		587		1,275		12
Corporate debt	7,433		27		(67)		7,393		2,830		4,558		5
Other marketable securities	322		2		(4)		320		—		247		73
Total	$	16,214	$	40	$	(274)	$	15,980	$	6,079	$	9,783	$	118
	June 30, 2024
									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
Company excluding Ford Credit
U.S. government	$	4,004	$	2	$	(53)	$	3,953	$	1,560	$	2,383	$	10
U.S. government agencies	1,999		—		(58)		1,941		553		1,370		18
Non-U.S. government and agencies	1,996		1		(62)		1,935		679		1,217		39
Corporate debt	5,650		13		(49)		5,614		1,046		4,543		25
Other marketable securities	430		1		(3)		428		—		321		107
Total	$	14,079	$	17	$	(225)	$	13,871	$	3,838	$	9,834	$	199

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
	2023		2024		2023		2024
Company excluding Ford Credit
Sales proceeds	$	715	$	2,715	$	1,878	$	6,434
Gross realized gains	—		3		1		5
Gross realized losses	9		8		21		16

Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value

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, 2023
	Less than 1 Year				1 Year or Greater				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Company excluding Ford Credit
U.S. government	$	619	$	(2)	$	2,735	$	(64)	$	3,354	$	(66)
U.S. government agencies	283		(1)		1,068		(61)		1,351		(62)
Non-U.S. government and agencies	67		—		1,654		(75)		1,721		(75)
Corporate debt	2,608		(2)		2,192		(65)		4,800		(67)
Other marketable securities	26		—		122		(4)		148		(4)
Total	$	3,603	$	(5)	$	7,771	$	(269)	$	11,374	$	(274)
	June 30, 2024
	Less than 1 Year				1 Year or Greater				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Company excluding Ford Credit
U.S. government	$	1,285	$	(12)	$	2,289	$	(41)	$	3,574	$	(53)
U.S. government agencies	751		(5)		1,161		(53)		1,912		(58)
Non-U.S. government and agencies	313		(3)		1,558		(59)		1,871		(62)
Corporate debt	2,275		(8)		1,585		(41)		3,860		(49)
Other marketable securities	117		(1)		117		(2)		234		(3)
Total	$	4,741	$	(29)	$	6,710	$	(196)	$	11,451	$	(225)

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, 2023		June 30, 2024
Cash and cash equivalents	$	24,862	$	19,953
Restricted cash (a)	248		228
Cash, cash equivalents, and restricted cash - held for sale (Note 15)	—		45
Total cash, cash equivalents, and restricted cash	$	25,110	$	20,226

__________

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