Transfers of Receivables (Tables)

9 Months Ended

Sep. 30, 2012

Transfers and Servicing [Abstract]

Schedule of Assets and Liabilities Related to Securitization Transactions [Table Text Block]

The following tables show the assets and debt related to our securitization transactions that were included in our financial statements (in billions):

	September 30, 2012
	Cash and Cash Equivalents		Finance Receivables and Net Investment in Operating Leases (a)						Related Debt
			Before Allowance for Credit Losses		Allowance for Credit Losses		After Allowance for Credit Losses
VIE (b)
Retail (c)	$	2.2	$	27.1	$	0.2	$	26.9	$	22.8
Wholesale	0.3		17.1		—		17.1		11.4
Finance receivables	2.5		44.2		0.2		44.0		34.2
Net investment in operating leases	0.3		5.1		—		5.1		3.4
Total VIE	$	2.8	$	49.3	$	0.2	$	49.1	$	37.6
Non-VIE
Retail (c)	$	0.1	$	2.5	$	—	$	2.5	$	2.2
Wholesale	—		1.4		—		1.4		1.3
Finance receivables	0.1		3.9		—		3.9		3.5
Net investment in operating leases	—		—		—		—		—
Total Non-VIE	$	0.1	$	3.9	$	—	$	3.9	$	3.5
Total securitization transactions
Retail (c)	$	2.3	$	29.6	$	0.2	$	29.4	$	25.0
Wholesale	0.3		18.5		—		18.5		12.7
Finance receivables	2.6		48.1		0.2		47.9		37.7
Net investment in operating leases	0.3		5.1		—		5.1		3.4
Total securitization transactions	$	2.9	$	53.2	$	0.2	$	53.0	$	41.1

__________

(a) Unearned interest supplements are excluded from securitization transactions.

(b) Includes assets to be used to settle the liabilities of the consolidated VIEs.

(c) Includes direct financing leases.

FORD MOTOR CREDIT COMPANY LLC AND SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS

NOTE 5. TRANSFERS OF RECEIVABLES (Continued)

	December 31, 2011
	Cash and Cash Equivalents		Finance Receivables and Net Investment in Operating Leases (a)						Related Debt
			Before Allowance for Credit Losses		Allowance for Credit Losses		After Allowance for Credit Losses
VIE (b)
Retail (c)	$	2.5	$	31.7	$	0.3	$	31.4	$	26.0
Wholesale	0.5		17.9		—		17.9		11.2
Finance receivables	3.0		49.6		0.3		49.3		37.2
Net investment in operating leases	0.4		6.4		—		6.4		4.2
Total VIE	$	3.4	$	56.0	$	0.3	$	55.7	$	41.4
Non-VIE
Retail (c)	$	0.3	$	4.3	$	—	$	4.3	$	3.8
Wholesale	—		1.9		—		1.9		1.5
Finance receivables	0.3		6.2		—		6.2		5.3
Net investment in operating leases	—		—		—		—		—
Total Non-VIE	$	0.3	$	6.2	$	—	$	6.2	$	5.3
Total securitization transactions
Retail (c)	$	2.8	$	36.0	$	0.3	$	35.7	$	29.8
Wholesale	0.5		19.8		—		19.8		12.7
Finance receivables	3.3		55.8		0.3		55.5		42.5
Net investment in operating leases	0.4		6.4		—		6.4		4.2
Total securitization transactions	$	3.7	$	62.2	$	0.3	$	61.9	$	46.7

__________

(a) Unearned interest supplements are excluded from securitization transactions.

(b) Includes assets to be used to settle the liabilities of the consolidated VIEs.

(c) Includes direct financing leases.

Schedule Of Financial Performance Of Securitization Transactions [Table Text Block]

Interest expense related to securitization debt for the periods ended September 30 was as follows (in millions):

	Third Quarter				First Nine Months
	2012		2011		2012		2011
VIE	$	171	$	248	$	599	$	763
Non-VIE	23		35		73		108
Total securitization transactions	$	194	$	283	$	672	$	871

Schedule of Exposures Based on the Fair Value of Derivative Instruments Related to Securitization Programs [Table Text Block]

Our exposures based on the fair value of derivative instruments related to securitization programs were as follows (in millions):

	September 30, 2012				December 31, 2011
	Derivative Asset		Derivative Liability		Derivative Asset		Derivative Liability
VIE - securitization entities	$	3	$	139	$	157	$	97
Ford Credit related to VIE	85		70		81		63
Other Ford Credit securitization related	13		26		12		25
Total securitization transactions	$	101	$	235	$	250	$	185

Schedule of Derivative Expense/(Income) Related to Securitization Transactions [Table Text Block]

Derivative expense/(income) related to our securitization transactions for the periods ended September 30 was as follows (in millions):

	Third Quarter					First Nine Months
	2012		2011			2012			2011
VIE - securitization entities	$	58	$	(46	)	$	209		$	(13	)
Ford Credit related to VIE	8		(18		)	(7		)	20
Other Ford Credit securitization related	4		4			16			12
Total securitization transactions	$	70	$	(60	)	$	218		$	19