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Derivative Financial Instruments and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]
The gains / (losses), by hedge designation, reported in income for the periods ended June 30 were as follows (in millions):
 
Second Quarter
 
First Half
 
2019
 
2020
 
2019
 
2020
Fair value hedges
 
 
 
 
 
 
 
Interest rate contracts
 
 
 
 
 
 
 
Net interest settlements and accruals on hedging instruments
$
(12
)
 
$
68

 
$
(32
)
 
$
96

Fair value changes on hedging instruments
474

 
112

 
724

 
1,222

Fair value changes on hedged debt
(463
)
 
(98
)
 
(716
)
 
(1,191
)
Derivatives not designated as hedging instruments
 
 
 
 
 
 
 
Interest rate contracts
(3
)
 
(12
)
 
(30
)
 
(86
)
Foreign currency exchange contracts (a)
40

 
(41
)
 
34

 
166

Cross-currency interest rate swap contracts
141

 
154

 
(4
)
 
3

Total
$
177

 
$
183

 
$
(24
)
 
$
210

__________
(a)
Reflects forward contracts between Ford Credit and an affiliated company.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
The fair value of our derivative instruments and the associated notional amounts were as follows (in millions):
 
December 31, 2019
 
June 30, 2020
 
Notional
 
Fair Value of Assets
 
Fair Value of Liabilities
 
Notional
 
Fair Value of Assets
 
Fair Value of Liabilities
Fair value hedges
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
$
26,577

 
$
702

 
$
19

 
$
24,434

 
$
1,682

 
$
—

Derivatives not designated as hedging instruments
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
68,914

 
275

 
191

 
71,075

 
752

 
573

Foreign currency exchange contracts
5,540

 
17

 
79

 
3,524

 
43

 
42

Cross-currency interest rate swap contracts
5,849

 
134

 
67

 
5,611

 
163

 
53

Total derivative financial instruments, gross (a) (b)
$
106,880

 
$
1,128

 
$
356

 
$
104,644

 
$
2,640

 
$
668

__________
(a)
At December 31, 2019 and June 30, 2020, we held collateral of $18 million and $20 million, respectively, and we posted collateral of $78 million and $91 million, respectively.
(b)
At December 31, 2019 and June 30, 2020, the fair value of assets and liabilities available for counterparty netting was $169 million and $337 million, respectively. All derivatives are categorized within Level 2 of the fair value hierarchy.