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Selected Quarterly Financial Data
 12 Months Ended
Dec. 31, 2016
Selected Quarterly Financial Information [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
 
2016
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Total revenues
$
33,900

 
$
37,263

 
$
38,144

 
$
40,251

 
$
37,718

 
$
39,485

 
$
35,943

 
$
38,654

Income/(Loss) before income taxes
1,779

 
3,286

 
3,291

 
1,896

 
3,651

 
2,875

 
1,387

 
(1,117
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amounts Attributable to Ford Motor Company Common and Class B Shareholders
Net income/(loss)
$
1,153

 
$
2,160

 
$
2,192

 
$
1,868

 
$
2,452

 
$
1,970

 
$
957

 
$
(783
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Common and Class B per share from income from continuing operations
Basic
$
0.29

 
$
0.54

 
$
0.55

 
$
0.47

 
$
0.62

 
$
0.50

 
$
0.24

 
$
(0.20
)
Diluted
0.29

 
0.54

 
0.55

 
0.47

 
0.61

 
0.49

 
0.24

 
(0.20
)


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 2016 results include a pension and OPEB net remeasurement loss of $3 billion.

The fourth quarter 2016 net income includes a tax benefit of $300 million for the recognition of deferred taxes resulting from a 2016 change in U.S. tax law related to taxation of foreign currency gains and losses for our non-U.S. branch operations.

The fourth quarter 2015 results include a pension and OPEB net remeasurement loss of $698 million.

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.