New Accounting Pronouncements (Tables)

9 Months Ended

Sep. 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 September 30, 2017 was as follows (in millions):

	Third Quarter							First Nine Months
	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	$	33,646	$	33,897	$	(251	)	$	107,234	$	106,937	$	297
Financial Services	2,802		2,709		93			8,209		7,930		279
Costs and expenses
Cost of sales	30,288		30,536		(248		)	96,345		96,166		179
Interest expense on Automotive debt	284		265		19			840		793		47
Non-Financial Services other income/(loss), net	709		731		(22		)	2,079		2,142		(63		)
Financial Services other income/(loss), net	45		138		(93		)	141		420		(279		)
Provision for/(Benefit from) income taxes	186		194		(8		)	1,044		1,040		4
Net income	1,571		1,607		(36		)	5,215		5,211		4

	September 30, 2017
	As Reported		Balances Without Adoption of ASC 606		Effect of Change  Higher/(Lower)
Balance Sheet
Assets
Trade and other receivables	$	10,277	$	10,300	$	(23	)
Other assets, current	3,570		3,233		337
Net investment in operating leases	28,714		29,510		(796		)
Deferred income taxes	10,359		10,376		(17		)
Liabilities
Payables	23,566		23,287		279
Other liabilities and deferred revenue, current	19,612		20,818		(1,206		)
Automotive debt payable within one year	3,551		3,158		393
Other liabilities and deferred revenue, non-current	24,819		24,824		(5		)
Deferred income taxes	804		804		—
Equity
Retained earnings	19,405		19,365		40

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 September 30, 2016 was as follows (in millions):

	Third Quarter						First Nine Months
	As Revised		Previously Reported		Effect of Change  Higher/(Lower)		As Revised		Previously Reported		Effect of Change  Higher/(Lower)
Income statement
Cost of sales	$	30,668	$	30,446	$	222	$	93,707	$	93,075	$	632
Selling, administrative, and other expenses	2,657		2,535		122		8,131		7,758		373
Non-Financial Services other income/(loss), net	672		328		344		2,126		1,121		1,005