Acquisitions and Other Actions (Notes)

9 Months Ended

Sep. 30, 2013

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

ACQUISITIONS AND OTHER ACTIONS

During April and August 2013, an affiliated company owned by Ford executed agreements to sell Volvo-related retail financing receivables of its German branch to a third-party financing company. In July 2013, FCE Bank plc (“FCE”) acquired the net residual assets of the affiliated company’s Swiss branch through the purchase of a newly created Swiss subsidiary. The net residual assets of the Swiss branch consisted primarily of $713 million of retail and dealer financing receivables in Switzerland. The Swiss assets were purchased at book value. All servicing obligations for the Swiss retail and dealer financing receivables transferred to FCE upon acquisition. In conjunction with this transaction, we recorded an increase of $60 million in Accumulated other comprehensive income (foreign currency translation), which resulted in a corresponding decrease in Shareholder’s interest.