Finance Receivables (Tables)

3 Months Ended

Mar. 31, 2023

Receivables [Abstract]

Financing Receivable, Allowance for Credit Loss

An analysis of the allowance for credit losses related to finance receivables for the periods ended March 31 was as follows (in millions):

	First Quarter 2022						First Quarter 2023
	Consumer		Non-Consumer		Total		Consumer		Non-Consumer		Total
Allowance for credit losses
Beginning balance	$	903	$	22	$	925	$	838	$	7	$	845
Charge-offs	(62)		—		(62)		(96)		—		(96)
Recoveries	43		1		44		38		1		39
Provision for/(Benefit from) credit losses	(59)		(5)		(64)		78		(1)		77
Other (a)	1		1		2		5		—		5
Ending balance	$	826	$	19	$	845	$	863	$	7	$	870

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(a)Primarily represents amounts related to translation adjustments.

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

Total finance receivables, net were as follows (in millions):

	December 31, 2022		March 31, 2023
Consumer
Retail installment contracts, gross	$	67,043	$	68,355
Finance leases, gross	6,765		6,990
Retail financing, gross	73,808		75,345
Unearned interest supplements from Ford and affiliated companies	(2,305)		(2,435)
Consumer finance receivables	71,503		72,910
Non-Consumer
Dealer financing	28,408		29,174
Other financing	1,447		1,556
Non-Consumer finance receivables	29,855		30,730
Total recorded investment	$	101,358	$	103,640
Recorded investment in finance receivables	$	101,358	$	103,640
Allowance for credit losses	(845)		(870)
Total finance receivables, net	$	100,513	$	102,770
Net finance receivables subject to fair value (a)	$	94,090	$	96,148
Fair value (b)	91,410		94,303

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(a)Net finance receivables subject to fair value exclude finance leases. 

(b)The fair value of finance receivables is categorized within Level 3 of the fair value hierarchy.

Financing Receivable, Past Due [Table Text Block]

The credit quality analysis of consumer receivables at December 31, 2022 was as follows (in millions):

	Amortized Cost Basis by Origination Year
	Prior to 2018		2018		2019		2020		2021		2022		Total		Percent
Consumer
31-60 days past due	$	41	$	60	$	91	$	181	$	150	$	126	$	649	0.9	%
61-120 days past due	9		12		20		39		40		29		149		0.2
Greater than 120 days past due	9		4		5		7		7		6		38		0.1
Total past due	59		76		116		227		197		161		836		1.2
Current	883		2,564		6,149		13,864		18,382		28,825		70,667		98.8
Total	$	942	$	2,640	$	6,265	$	14,091	$	18,579	$	28,986	$	71,503	100.0	%

The credit quality analysis of consumer receivables at March 31, 2023 was as follows (in millions):

	Amortized Cost Basis by Origination Year
	Prior to 2019		2019		2020		2021		2022		2023		Total		Percent
Consumer
31-60 days past due	$	75	$	72	$	149	$	135	$	150	$	10	$	591	0.8	%
61-120 days past due	11		13		28		30		36		1		119		0.2
Greater than 120 days past due	12		4		8		10		6		—		40		—
Total past due	98		89		185		175		192		11		750		1.0
Current	2,575		5,075		12,202		16,567		26,953		8,788		72,160		99.0
Total	$	2,673	$	5,164	$	12,387	$	16,742	$	27,145	$	8,799	$	72,910	100.0	%
Gross charge-offs	$	17	$	12	$	23	$	22	$	22	$	—	$	96

Financing Receivables Credit Quality Indicators [Table Text Block]

The credit quality analysis of dealer financing receivables at December 31, 2022 was as follows (in millions):

	Amortized Cost Basis by Origination Year
	Dealer Loans
	Prior to 2018		2018		2019		2020		2021		2022		Total		Wholesale Loans		Total		Percent
Group I	$	402	$	148	$	35	$	67	$	185	$	224	$	1,061	$	24,242	$	25,303	89.1	%
Group II	2		21		—		5		2		42		72		2,751		2,823		9.9
Group III	—		—		—		—		—		10		10		233		243		0.9
Group IV	—		—		1		—		—		3		4		35		39		0.1
Total (a)	$	404	$	169	$	36	$	72	$	187	$	279	$	1,147	$	27,261	$	28,408	100.0	%

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(a)Total past due dealer financing receivables at December 31, 2022 were $9 million. 

NOTE 4. FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Continued)

The credit quality analysis of dealer financing receivables at March 31, 2023 was as follows (in millions):

	Amortized Cost Basis by Origination Year
	Dealer Loans
	Prior to 2019		2019		2020		2021		2022		2023		Total		Wholesale Loans		Total		Percent
Group I	$	516	$	33	$	67	$	179	$	83	$	189	$	1,067	$	25,635	$	26,702	91.5	%
Group II	3		—		2		2		1		51		59		2,115		2,174		7.5
Group III	—		—		—		—		—		10		10		255		265		0.9
Group IV	—		1		—		—		—		3		4		29		33		0.1
Total (a)	$	519	$	34	$	69	$	181	$	84	$	253	$	1,140	$	28,034	$	29,174	100.0	%
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

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(a)Total past due dealer financing receivables at March 31, 2023 were $7 million.