Retirement Benefits (Tables)

12 Months Ended

Dec. 31, 2014

Compensation and Retirement Disclosure [Abstract]

Schedule of Assumptions Used [Table Text Block]

The assumptions used to determine expense and benefit obligation were as follows:

	Pension Benefits
	U.S. Plans				Non-U.S. Plans				U.S. OPEB
	2014		2013		2014		2013		2014		2013
Weighted Average Assumptions at December 31
Discount rate	3.94	%	4.74	%	3.06	%	4.07	%	3.86	%	4.65	%
Expected long-term rate of return on assets	6.75		6.89		6.11		6.63		—		—
Average rate of increase in compensation	3.80		3.80		3.40		3.41		3.80		3.80
Assumptions Used to Determine Net Benefit Cost for the Year Ended December 31
Discount rate	4.74	%	3.84	%	4.07	%	3.92	%	4.65	%	3.80	%
Expected long-term rate of return on assets	6.89		7.38		6.63		6.74		—		—
Average rate of increase in compensation	3.80		3.80		3.41		3.41		3.80		3.80

Schedule of defined benefit plans expense [Table Text Block]

The pre-tax expense for our defined benefit pension and OPEB plans for the years ended December 31 was as follows (in millions):

	Pension Benefits
	U.S. Plans									Non-U.S. Plans									Worldwide OPEB
	2014			2013			2012			2014			2013			2012			2014			2013			2012
Service cost	$	507		$	581		$	521		$	468		$	484		$	372		$	54		$	64		$	67
Interest cost	1,992			1,914			2,208			1,189			1,137			1,189			269			256			290
Expected return on assets	(2,713		)	(2,816		)	(2,873		)	(1,508		)	(1,382		)	(1,340		)	—			—			—
Amortization of:
Prior service costs/(credits)	155			174			220			55			66			72			(229		)	(283		)	(545		)
(Gains)/Losses	207			655			425			586			686			412			98			158			129
Separation programs/other	19			10			7			81			242			162			—			—			2
Recognition of (gains)/losses due to:
Curtailments	—			—			—			—			—			—			—			(2		)	(11		)
Settlements	—			594			250			19			5			—			—			—			—
Total expense/(income)	$	167		$	1,112		$	758		$	890		$	1,238		$	867		$	192		$	193		$	(68	)

Schedule Of Defined Benefit Plan Obligations [Table Text Block]

The year-end status of these plans was as follows (in millions):

	Pension Benefits
	U.S. Plans						Non-U.S. Plans						Worldwide OPEB
	2014			2013			2014			2013			2014			2013
Change in Benefit Obligation
Benefit obligation at January 1	$	43,182		$	52,125		$	30,851		$	30,702		$	5,889		$	6,810
Service cost	507			581			468			484			54			64
Interest cost	1,992			1,914			1,189			1,137			269			256
Amendments	—			—			11			(1		)	—			—
Separation programs and other	(50		)	(75		)	139			141			—			(11		)
Curtailments	—			—			—			—			—			—
Settlements	—			(3,089		)	(116		)	(51		)	—			—
Plan participant contributions	26			26			25			25			23			27
Benefits paid	(3,028		)	(3,120		)	(1,423		)	(1,416		)	(406		)	(421		)
Foreign exchange translation	—			—			(2,997		)	229			(138		)	(131		)
Actuarial (gain)/loss	3,692			(5,180		)	5,076			(399		)	697			(705		)
Benefit obligation at December 31	46,321			43,182			33,223			30,851			6,388			5,889
Change in Plan Assets
Fair value of plan assets at January 1	41,217			42,395			23,843			21,713			—			—
Actual return on plan assets	6,542			1,539			3,656			1,689			—			—
Company contributions	130			3,535			1,715			1,852			—			—
Plan participant contributions	26			26			25			25			—			—
Benefits paid	(3,028		)	(3,120		)	(1,423		)	(1,416		)	—			—
Settlements	—			(3,089		)	(116		)	(51		)	—			—
Foreign exchange translation	—			—			(2,019		)	49			—			—
Other	(43		)	(69		)	(6		)	(18		)	—			—
Fair value of plan assets at December 31	44,844			41,217			25,675			23,843			—			—
Funded status at December 31	$	(1,477	)	$	(1,965	)	$	(7,548	)	$	(7,008	)	$	(6,388	)	$	(5,889	)
Amounts Recognized on the Balance Sheet
Prepaid assets	$	377		$	443		$	696		$	219		$	—		$	—
Other liabilities	(1,854		)	(2,408		)	(8,244		)	(7,227		)	(6,388		)	(5,889		)
Total	$	(1,477	)	$	(1,965	)	$	(7,548	)	$	(7,008	)	$	(6,388	)	$	(5,889	)
Amounts Recognized in Accumulated Other Comprehensive Loss (pre-tax)
Unamortized prior service costs/(credits)	$	609		$	764		$	347		$	417		$	(710	)	$	(959	)
Unamortized net (gains)/losses	5,810			6,179			11,254			9,902			2,278			1,701
Total	$	6,419		$	6,943		$	11,601		$	10,319		$	1,568		$	742
Pension Plans in which Accumulated Benefit Obligation Exceeds Plan Assets at December 31
Accumulated benefit obligation	$	1,906		$	25,828		$	11,018		$	15,393
Fair value of plan assets	150			23,498			4,109			9,518
Accumulated Benefit Obligation at December 31	$	44,919		$	42,078		$	30,098		$	28,312
Pension Plans in which Projected Benefit Obligation Exceeds Plan Assets at December 31
Projected benefit obligation	$	2,004		$	25,906		$	12,874		$	23,653
Fair value of plan assets	150			23,498			4,630			16,426
Projected Benefit Obligation at December 31	$	46,321		$	43,182		$	33,223		$	30,851

Schedule of Expected Benefit Payments [Table Text Block]

The following table presents estimated future gross benefit payments (in millions):

	Gross Benefit Payments
	Pension
	U.S. Plans		Non-U.S. Plans		Worldwide OPEB
2015	$	3,070	$	1,340	$	390
2016	3,030		1,290		390
2017	2,990		1,310		380
2018	2,960		1,330		380
2019	2,940		1,360		380
2020 - 2024	14,440		7,220		1,830

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block]

The amounts in Accumulated other comprehensive income/(loss) that are expected to be recognized as components of net expense/(income) during 2015 are as follows (in millions):

	Pension Benefits
	U.S. Plans		Non-U.S. Plans		Worldwide OPEB			Total
Prior service cost/(credit)	$	155	$	49	$	(209	)	$	(5	)
(Gains)/Losses	397		835		145			1,377

Schedule of Allocation of Plan Assets [Table Text Block]

The fair value of our defined benefit pension plan assets (including dividends and interest receivables of $360 million and $112 million for U.S. and non-U.S. plans, respectively) by asset category at December 31 was as follows (in millions):

	2014
	U.S. Plans											Non-U.S. Plans
	Level 1			Level 2			Level 3		Total			Level 1			Level 2			Level 3		Total
Asset Category
Equity
U.S. companies	$	2,678		$	2		$	—	$	2,680		$	2,119		$	149		$	—	$	2,268
International companies	1,510			28			—		1,538			1,910			196			—		2,106
Total equity	4,188			30			—		4,218			4,029			345			—		4,374
Fixed Income
U.S. government	4,506			—			—		4,506			92			—			—		92
U.S. government-sponsored enterprises (b)	—			4,047			—		4,047			—			24			—		24
Non-U.S. government	—			1,842			—		1,842			—			10,727			—		10,727
Corporate bonds (c)
Investment grade	—			18,052			—		18,052			—			1,741			—		1,741
High yield	—			3,258			—		3,258			—			472			—		472
Other credit	—			181			14		195			—			81			—		81
Mortgage/other asset-backed	—			1,290			34		1,324			—			230			—		230
Commingled funds	—			200			—		200			—			616			—		616
Derivative financial instruments (a)	13			(206		)	—		(193		)	1			(5		)	—		(4		)
Total fixed income	4,519			28,664			48		33,231			93			13,886			—		13,979
Alternatives
Hedge funds (d)	36			48			2,475		2,559			40			48			1,749		1,837
Private equity (e)	4			(2		)	2,782		2,784			—			—			538		538
Real estate (f)	—			2			821		823			—			1			678		679
Total alternatives	40			48			6,078		6,166			40			49			2,965		3,054
Cash and cash equivalents (g)	—			1,374			—		1,374			—			656			—		656
Other (h)	(167		)	22			—		(145		)	(1,121		)	8			4,725		3,612
Total assets at fair value	$	8,580		$	30,138		$	6,126	$	44,844		$	3,041		$	14,944		$	7,690	$	25,675

_______

(a) Net derivative position.  

(b) Debt securities primarily issued by U.S. government-sponsored enterprises (“GSEs”).

(c) “Investment grade” bonds are those rated Baa3/BBB- or higher by at least two rating agencies; “High yield” bonds are those rated below investment grade; “Other credit” refers to non-rated bonds.

(d) For U.S. Plans, funds investing in diverse hedge fund strategies with the following composition of underlying hedge fund investments at December 31, 2014:  global macro (28%), event-driven (26%), equity long/short (26%), multi-strategy (14%), and relative value (7%). For non‑U.S. Plans, funds investing in diversified portfolio of underlying hedge funds.  At December 31, 2014, the composition of underlying hedge fund investments (within the United Kingdom and Canada pension plans) was:  equity long/short (39%), event-driven (33%), global macro (13%), multi‑strategy (10%), and relative value (5%).

(e) For U.S. Plans, diversified investments in private equity funds with the following strategies:  buyout (62%), venture capital (27%), mezzanine/distressed (6%), and other (5%).  Allocations are estimated based on latest available data for managers reflecting June 30, 2014 holdings. For non‑U.S. Plans, investments in private investment funds (funds of funds) pursuing strategies broadly classified as venture capital and buyouts.

(f) For U.S. Plans, investment in private property funds broadly classified as core (42%), value-added and opportunistic (58%). For non-U.S. Plans, investment in private property funds broadly classified as core (39%), value-added and opportunistic (61%).  Also includes investment in real assets.

(g) Primarily short-term investment funds to provide liquidity to plan investment managers and cash held to pay benefits.

(h) For U.S. Plans, primarily cash related to net pending security (purchases)/sales and net pending foreign currency purchases/(sales). For non‑U.S Plans, primarily Ford-Werke, plan assets (insurance contract valued at $3.8 billion) and cash related to net pending security (purchases)/sales and net pending foreign currency purchases/(sales).

NOTE 12.RETIREMENT BENEFITS(Continued)

The fair value of our defined benefit pension plan assets (including dividends and interest receivables of $349 million and $99 million for U.S. and non-U.S. plans, respectively) by asset category at December 31 was as follows (in millions):

	2013
	U.S. Plans										Non-U.S.Plans
	Level 1			Level 2		Level 3		Total			Level 1			Level 2			Level 3		Total
Asset Category
Equity
U.S. companies	$	3,724		$	22	$	3	$	3,749		$	2,711		$	229		$	—	$	2,940
International companies	2,288			76		1		2,365			2,983			214			2		3,199
Total equity	6,012			98		4		6,114			5,694			443			2		6,139
Fixed Income
U.S. government	3,610			—		—		3,610			30			—			—		30
U.S. government-sponsored enterprises (b)	—			4,127		—		4,127			—			11			—		11
Non-U.S. government	—			2,115		—		2,115			—			6,880			67		6,947
Corporate bonds (c)
Investment grade	—			15,058		—		15,058			—			1,229			55		1,284
High yield	—			1,254		—		1,254			—			337			21		358
Other credit	—			48		—		48			—			37			13		50
Mortgage/other asset-backed	—			1,287		33		1,320			—			238			14		252
Commingled funds	—			304		—		304			—			471			—		471
Derivative financial instruments (a)	(23		)	41		—		18			—			(5		)	—		(5		)
Total fixed income	3,587			24,234		33		27,854			30			9,198			170		9,398
Alternatives
Hedge funds (d)	—			—		2,778		2,778			—			—			1,657		1,657
Private equity (e)	—			—		2,626		2,626			—			—			352		352
Real estate (f)	—			—		610		610			—			—			601		601
Total alternatives	—			—		6,014		6,014			—			—			2,610		2,610
Cash and cash equivalents (g)	—			1,477		—		1,477			—			950			—		950
Other (h)	(273		)	30		1		(242		)	(465		)	13			5,198		4,746
Total assets at fair value	$	9,326		$	25,839	$	6,052	$	41,217		$	5,259		$	10,604		$	7,980	$	23,843

_______

(a) Net derivative position.  

(b) Debt securities primarily issued by GSEs.

(c) “Investment grade” bonds are those rated Baa3/BBB- or higher by at least two rating agencies; “High yield” bonds are those rated below investment grade; “Other credit” refers to non-rated bonds.

(d) For U.S. Plans, funds investing in diverse hedge fund strategies with the following composition of underlying hedge fund investments at December 31, 2013:  global macro (32%), event-driven (26%), equity long/short (22%), multi-strategy (11%), and relative value (9%.) For non-U.S. Plans, funds investing in diversified portfolio of underlying hedge funds.  At December 31, 2013, the composition of underlying hedge fund investments (within the United Kingdom and Canada pension plans) was:  event-driven (35%), equity long/short (35%), multi-strategy (12%), global macro (12%) and relative value (6%).

(e) For U.S. Plans, diversified investments in private equity funds with the following strategies:  buyout (61%), venture capital (26%), mezzanine/distressed (7%), and other (6%).  Allocations are estimated based on latest available data for managers reflecting June 30, 2013 holdings. For non-U.S. Plans, investments in private investment funds (funds of funds) pursuing strategies broadly classified as venture capital and buyouts.

(f) For U.S. Plans, Investment in private property funds broadly classified as core (49%), value-added and opportunistic (51%). For non-U.S. Plans, investment in private property funds broadly classified as core (40%), value-added and opportunistic (60%).  Also includes investment in real assets.

(g) Primarily short-term investment funds to provide liquidity to plan investment managers and cash held to pay benefits.

(h) For U.S. Plans, primarily cash related to net pending trade purchases/sales and net pending foreign exchange purchases/sales. For non‑U.S Plans, primarily Ford-Werke, plan assets (insurance contract valued at $4.1 billion) and cash related to net pending trade purchases/sales and net pending foreign exchange purchases/sales.

Schedule of Changes in Fair Value of Plan Assets [Table Text Block]

The following table summarizes the changes in Level 3 defined benefit pension plan assets measured at fair value on a recurring basis for the year ended December 31 (in millions):

	2014
			Return on plan assets
U.S. Plans:	Fair Value at January 1, 2014		Attributable to Assets Held at December 31, 2014		Attributable to Assets Sold			Net Purchases/ (Settlements)			Transfers Into/ (Out of) Level 3			Fair Value at December 31, 2014
Asset Category
Equity
U.S. companies	$	3	$	—	$	(3	)	$	—		$	—		$	—
International companies	1		—		(1		)	—			—			—
Total equity	4		—		(4		)	—			—			—
Fixed Income
Other credit	—		—		—			—			14			14
Mortgage/other asset-backed	33		—		—			34			(33		)	34
Total fixed income	33		—		—			34			(19		)	48
Alternatives
Hedge funds	2,778		205		(4		)	(504		)	—			2,475
Private equity	2,626		403		—			(247		)	—			2,782
Real estate	610		85		—			126			—			821
Total alternatives	6,014		693		(4		)	(625		)	—			6,078
Other	1		—		—			(1		)	—			—
Total Level 3 fair value	$	6,052	$	693	$	(8	)	$	(592	)	$	(19	)	$	6,126
Non-U.S. Plans:
Asset Category
Equity
International companies	$	2	$	—	$	(1	)	$	(1	)	$	—		$	—
Total equity	2		—		(1		)	(1		)	—			—
Fixed Income
Non-U.S. government	67		—		(2		)	(12		)	(53		)	—
Corporate bonds
Investment grade	55		—		3			(17		)	(41		)	—
High yield	21		—		—			(15		)	(6		)	—
Other credit	13		—		—			(7		)	(6		)	—
Mortgage/other asset-backed	14		—		—			(4		)	(10		)	—
Total fixed income	170		—		1			(55		)	(116		)	—
Alternatives
Hedge funds	1,657		169		5			(82		)	—			1,749
Private equity	352		63		—			123			—			538
Real estate	601		52		(14		)	39			—			678
Total alternatives	2,610		284		(9		)	80			—			2,965
Other (a)	5,198		—		(282		)	(191		)	—			4,725
Total Level 3 fair value	$	7,980	$	284	$	(291	)	$	(167	)	$	(116	)	$	7,690

_______

(a) Primarily Ford-Werke plan assets (insurance contract valued at $3.8 billion).

NOTE 12.RETIREMENT BENEFITS(Continued)

The following table summarizes the changes in Level 3 defined benefit pension plan assets measured at fair value on a recurring basis for the year ended December 31 (in millions):

	2013
				Return on plan assets
U.S. Plans:	Fair Value at January 1, 2013			Attributable to Assets Held at December 31, 2013			Attributable to Assets Sold			Net Purchases/ (Settlements)			Transfers Into/ (Out of) Level 3			Fair Value at December 31, 2013
Asset Category
Equity
U.S. companies	$	15		$	—		$	—		$	—		$	(12	)	$	3
International companies	3			—			—			(2		)	—			1
Total equity	18			—			—			(2		)	(12		)	4
Fixed Income
U.S. government-sponsored enterprises	3			—			—			—			(3		)	—
Non-U.S. government	32			—			(1		)	(28		)	(3		)	—
Corporate bonds
Investment grade	80			—			(4		)	(33		)	(43		)	—
High yield	14			—			(1		)	(12		)	(1		)	—
Other credit	50			—			(7		)	(26		)	(17		)	—
Mortgage/other asset-backed	115			—			7			7			(96		)	33
Total fixed income	294			—			(6		)	(92		)	(163		)	33
Alternatives
Hedge funds	3,121			295			(40		)	(598		)	—			2,778
Private equity	2,412			345			—			(131		)	—			2,626
Real estate	457			45			—			108			—			610
Total alternatives	5,990			685			(40		)	(621		)	—			6,014
Other	57			1			2			(55		)	(4		)	1
Total Level 3 fair value	$	6,359		$	686		$	(44	)	$	(770	)	$	(179	)	$	6,052
Non-U.S. Plans:
Asset Category
Equity
International companies	$	1		$	—		$	—		$	—		$	1		$	2
Total equity	1			—			—			—			1			2
Fixed Income
Non-U.S. government	41			(7		)	—			33			—			67
Corporate bonds
Investment grade	22			(1		)	(1		)	32			3			55
High yield	1			—			—			19			1			21
Other credit	6			—			—			7			—			13
Mortgage/other asset-backed	28			—			2			1			(17		)	14
Derivative financial instruments	(1		)	—			—			1			—			—
Total fixed income	97			(8		)	1			93			(13		)	170
Alternatives
Hedge funds	1,142			114			10			391			—			1,657
Private equity	236			34			—			82			—			352
Real estate	329			42			—			230			—			601
Total alternatives	1,707			190			10			703			—			2,610
Other (a)	4,670			528			—			—			—			5,198
Total Level 3 fair value	$	6,475		$	710		$	11		$	796		$	(12	)	$	7,980

_______

(a) Primarily Ford-Werke plan assets (insurance contract valued at $4.1 billion)