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Derivative Financial Instruments and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Income Effect of Derivative Financial Instruments [Table Text Block]
The gains/(losses), by hedge designation, recorded in income for the periods ended June 30 were as follows (in millions):
 
Second Quarter
 
First Half
 
2015
 
2014
 
2015
 
2014
Fair value hedges
 
 
 
 
 
 
 
Interest rate contracts
 
 
 
 
 
 
 
Net interest settlements and accruals excluded from the assessment of hedge effectiveness
$
89

 
$
72

 
$
177

 
$
141

Ineffectiveness (a)
(10
)
 
5

 
(4
)
 
10

Derivatives not designated as hedging instruments
 

 
 

 
 
 
 
Interest rate contracts
(18
)
 
(9
)
 
(61
)
 
(27
)
Foreign currency exchange contracts
(65
)
 
(25
)
 
—

 
(30
)
Cross-currency interest rate swap contracts
(77
)
 
(11
)
 
12

 
(16
)
Total
$
(81
)
 
$
32

 
$
124

 
$
78

__________
(a)
For the second quarter and first half of 2015, hedge ineffectiveness reflects the net change in fair value on derivatives of $249 million loss and $28 million loss, respectively, and change in value on hedged debt attributable to the change in benchmark interest rates of $239 million gain and $24 million gain, respectively. For the second quarter and first half of 2014, hedge ineffectiveness reflects the net change in fair value on derivatives of $162 million gain and $267 million gain, respectively, and change in value on hedged debt attributable to the change in benchmark interest rates of $157 million loss and $257 million loss, respectively.

Balance Sheet Effect of Derivative Financial Instruments [Table Text Block]
The notional amount and estimated fair value of our derivative financial instruments were as follows (in millions):
 
June 30, 2015
 
December 31, 2014
 
Notional
 
Fair Value of Assets
 
Fair Value of Liabilities
 
Notional
 
Fair Value of Assets
 
Fair Value of Liabilities
Fair value hedges
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
$
24,202

 
$
572

 
$
38

 
$
23,203

 
$
602

 
$
38

Derivatives not designated as hedging instruments
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
57,897

 
157

 
132

 
56,558

 
168

 
89

Foreign currency exchange contracts (a)
1,265

 
—

 
41

 
1,527

 
18

 
1

Cross-currency interest rate swap contracts
2,403

 
94

 
167

 
2,425

 
71

 
39

Total derivative financial instruments, gross
$
85,767

 
823

 
378

 
$
83,713

 
859

 
167

Counterparty netting and collateral (b)
 
 
(161
)
 
(161
)
 
 
 
(136
)
 
(136
)
Total derivative financial instruments, net


 
$
662

 
$
217

 


 
$
723

 
$
31

__________
(a)
Includes forward contracts between Ford Credit and an affiliated company.
(b)
At June 30, 2015 and December 31, 2014, we did not receive or pledge any cash collateral.