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Selected Quarterly Financial Data
 12 Months Ended
Dec. 31, 2015
SELECTED QUARTERLY FINANCIAL DATA [Abstract]  
Selected Quarterly Financial Data
SELECTED QUARTERLY FINANCIAL DATA (unaudited)

Selected financial data by calendar quarter were as follows (in millions, except per share amounts):
 
2015
 
2014
Automotive Sector
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Revenues
$
31,800

 
$
35,105

 
$
35,818

 
$
37,843

 
$
33,876

 
$
35,365

 
$
32,779

 
$
33,762

Income/(Loss) before income taxes
1,310

 
2,795

 
2,765

 
1,354

 
1,122

 
1,927

 
762

 
(4,371
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Financial Services Sector
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Revenues
$
2,100

 
$
2,158

 
$
2,326

 
$
2,408

 
$
2,000

 
$
2,046

 
$
2,141

 
$
2,108

Income/(Loss) before income taxes
469

 
491

 
526

 
542

 
462

 
429

 
495

 
408

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Company
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income/(Loss) before income taxes
$
1,779

 
$
3,286

 
$
3,291

 
$
1,896

 
$
1,584

 
$
2,356

 
$
1,257

 
$
(3,963
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amounts Attributable to Ford Motor Company Common and Class B Shareholders
Net income/(loss)
$
1,153

 
$
2,160

 
$
2,192

 
$
1,868

 
$
1,232

 
$
1,497

 
$
1,019

 
$
(2,517
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Common and Class B per share from income from continuing operations
Basic
$
0.29

 
$
0.54

 
$
0.55

 
$
0.47

 
$
0.31

 
$
0.38

 
$
0.26

 
$
(0.65
)
Diluted
0.29

 
0.54

 
0.55

 
0.47

 
0.30

 
0.37

 
0.26

 
(0.65
)


Certain of the quarterly results identified in the table above include material unusual or infrequently occurring items as follows on a pre-tax basis, except for tax items:

The fourth quarter 2015 results include a pension and OPEB remeasurement loss of $698 million (see Note 1).

The fourth quarter 2015 net income includes a tax benefit of $346 million related to retroactive reinstatement of U.S. tax legislation in the Protecting Americans from Tax Hikes Act of 2015.

The fourth quarter 2014 results include a pension and OPEB remeasurement loss of $4.1 billion (see Note 1), and a charge of $800 million for Venezuela accounting change (see Note 22).

The fourth quarter of 2014 net income includes a tax benefit of $176 million related to retroactive reinstatement of U.S. tax legislation in the Tax Increase Prevention Act of 2014.

The first, second, third, and fourth quarter of 2014 results each include charges in Europe and Australia for separation related actions to support transformation plan of $122 million, $152 million, $160 million, and $247 million, respectively (see Note 20).

Third quarter 2014 net income includes a tax benefit of $245 million resulting from a change in our method for measuring currency gains and losses in computing earnings of our European operations under U.S. law.

The second quarter 2014 results include a charge of $329 million for the equity impairment of Ford Sollers (see Note 22).

Effective December 31, 2015, we changed our method of accounting for certain components of our defined benefit pension and OPEB plans (see Note 1). Previously reported numbers were as follows (in millions, except per share amounts):
 
2015
 
2014
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Total Company
 
 
 
 
 
 
 
 
 
 
 
 
 
Income/(Loss) before income taxes
$
1,405

 
$
2,868

 
$
2,859

 
$
1,259

 
$
2,118

 
$
1,021

 
$
(56
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amounts Attributable to Ford Motor Company Common and Class B Shareholders
Net income/(loss)
$
924

 
$
1,885

 
$
1,909

 
$
989

 
$
1,311

 
$
835

 
$
52

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Common and Class B per share from income from continuing operations
Basic
$
0.23

 
$
0.47

 
$
0.48

 
$
0.25

 
$
0.33

 
$
0.22

 
$
0.01

Diluted
0.23

 
0.47

 
0.48

 
0.24

 
0.32

 
0.21

 
0.01