Debt (Tables)

6 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

							Interest Rates
	Debt						Average Contractual				Average Effective
	December 31, 2017			June 30, 2018			2017		2018		2017		2018
Short-term debt
Unsecured debt
Floating rate demand notes	$	5,660		$	5,660
Commercial paper	4,889			4,453
Other short-term debt	5,890			3,623
Asset-backed debt	786			1,302
Total short-term debt	17,225			15,038			3.0	%	3.1	%	3.0	%	3.1	%
Long-term debt
Unsecured debt
Notes payable within one year	13,298			12,636
Notes payable after one year	55,687			55,755
Asset-backed debt (a)
Notes payable within one year	17,817			19,317
Notes payable after one year	34,051			34,625
Unamortized discount	(1		)	—
Unamortized issuance costs	(228		)	(231		)
Fair value adjustments (b)	(21		)	(453		)
Total long-term debt	120,603			121,649			2.5	%	2.6	%	2.6	%	2.7	%
Total debt	$	137,828		$	136,687		2.6	%	2.7	%	2.6	%	2.8	%
Fair value of debt (c)	$	139,677		$	138,669

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(a) Asset-backed debt issued in securitizations is the obligation of the consolidated securitization entity that issued the debt and is payable only out of collections on the underlying securitized assets and related enhancements. This asset-backed debt is not the obligation of Ford Credit or our other subsidiaries.

(b) These adjustments relate to designated fair value hedges. The carrying value of hedged debt was $39.0 billion and $37.5 billion at December 31, 2017 and June 30, 2018, respectively.

(c) The fair value of debt includes $16.4 billion and $13.7 billion of short-term debt at December 31, 2017 and June 30, 2018, respectively, carried at cost, which approximates fair value. All other debt is categorized within Level 2 of the fair value hierarchy.