New Accounting Pronouncements (Tables)

6 Months Ended

Jun. 30, 2017

Accounting Changes and Error Corrections [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

The cumulative effect of the changes made to our consolidated January 1, 2017 balance sheet for the adoption of ASU 2016-09, Stock Compensation - Improvements to Employee Share-Based Payment Accounting and ASU 2014-09,Revenue - Revenue from Contracts with Customers were as follows (in millions):

	Balance at December 31, 2016		Adjustments Due to ASU 2016-09		Adjustments Due to ASU 2014-09			Balance at January 1, 2017
Balance Sheet
Assets
Trade and other receivables	$	11,102	$	—	$	(17	)	$	11,085
Inventories	8,898		—		(9		)	8,889
Other assets, current	3,368		—		307			3,675
Net investment in operating leases	28,829		—		(1,078		)	27,751
Deferred income taxes	9,705		536		(13		)	10,228
Liabilities
Payables	21,296		—		262			21,558
Other liabilities and deferred revenue, current	19,316		—		(1,429		)	17,887
Automotive debt payable within one year	2,685		—		326			3,011
Other liabilities and deferred revenue, non-current	24,395		—		(5		)	24,390
Equity
Capital in excess of par value of stock	21,630		6		—			21,636
Retained earnings	15,634		530		36			16,200

In accordance with the new revenue standard requirements, the disclosure of the impact of adoption on our consolidated income statement and balance sheet for the periods ended June 30, 2017 was as follows (in millions):

	Second Quarter							First Half
	As Reported		Balances Without Adoption of ASC 606		Effect of Change  Higher/(Lower)			As Reported		Balances Without Adoption of ASC 606		Effect of Change  Higher/(Lower)
Income statement
Revenues
Automotive	$	37,113	$	36,898	$	215		$	73,588	$	73,040	$	548
Financial Services	2,738		2,641		97			5,407		5,221		186
Costs and expenses
Cost of sales	33,349		33,184		165			66,057		65,630		427
Interest expense on Automotive debt	277		266		11			556		528		28
Non-Financial Services other income/(loss), net	658		679		(21		)	1,370		1,411		(41		)
Financial Services other income/(loss), net	74		171		(97		)	96		282		(186		)
Provision for/(Benefit from) income taxes	209		204		5			858		846		12
Net income	2,050		2,037		13			3,644		3,604		40

	June 30, 2017
	As Reported		Balances Without Adoption of ASC 606		Effect of Change  Higher/(Lower)
Balance Sheet
Assets
Trade and other receivables	$	10,159	$	10,199	$	(40	)
Other assets, current	3,291		2,951		340
Net investment in operating leases	28,597		29,553		(956		)
Deferred income taxes	10,145		10,170		(25		)
Liabilities
Payables	23,568		23,285		283
Other liabilities and deferred revenue, current	19,958		21,393		(1,435		)
Automotive debt payable within one year	2,911		2,511		400
Other liabilities and deferred revenue, non-current	24,840		24,845		(5		)
Deferred income taxes	735		735		—
Equity
Retained earnings	18,437		18,361		76

The effect of the retrospective presentation change related to the net periodic cost of our defined benefit pension and other postretirement employee benefits (“OPEB”) plans on our consolidated income statement for the periods ended June 30, 2016 was as follows (in millions):

	Second Quarter						First Half
	As Revised		Previously Reported		Effect of Change  Higher/(Lower)		As Revised		Previously Reported		Effect of Change  Higher/(Lower)
Income statement
Cost of sales	$	32,522	$	32,348	$	174	$	63,039	$	62,629	$	410
Selling, administrative, and other expenses	2,784		2,661		123		5,474		5,223		251
Non-Financial Services other income/(loss), net	686		389		297		1,454		793		661