SEGMENT INFORMATION

Effective January 1, 2018, we changed our reportable segments to reflect the manner in which we manage our business. Based on changes to our organization structure and how our CODM reviews operating results and makes decisions about resource allocation, we have three reportable segments that represent the primary businesses reported in our consolidated financial statements: Automotive, Mobility, and Ford Credit.

In addition to the change in reportable segments, consistent with how our CODM assesses performance of the segments, we changed the measurement of our segment profits and losses as described below:


•	Corporate governance expenses, which were previously reported as part of our Automotive segment, are reported as part of Corporate Other


•	Autonomous vehicle development costs, which were previously reported as part of our Automotive segment, are reported in Mobility


•	Interest income and portfolio gains and losses, which were previously reported in our segment results, are reported in Corporate Other. Interest expense (other than interest expense incurred by Ford Credit) is reported as a separate reconciling item

Prior period amounts were adjusted retrospectively to reflect the segment and measurement changes.

Below is a description of our reportable segments and other activities.

Automotive Segment

Our Automotive segment primarily includes the sale of Ford and Lincoln vehicles, service parts, and accessories worldwide, together with the associated costs to develop, manufacture, distribute, and service the vehicles, parts, and accessories. This segment includes revenues and costs related to our electrification vehicle programs. The segment includes five regional business units: North America, South America, Europe, Middle East & Africa, and Asia Pacific.

Mobility Segment

Our Mobility segment primarily includes development costs related to our autonomous vehicles and our investment in mobility through Ford Smart Mobility LLC (“FSM”). Autonomous vehicles includes self-driving systems development and vehicle integration, autonomous vehicle research and advanced engineering, AV transportation-as-a-service network development, user experience, and business strategy and business development teams. FSM designs and builds mobility services on its own, and collaborates with start-ups and tech companies.

Ford Credit Segment

The Ford Credit segment is comprised of the Ford Credit business on a consolidated basis, which is primarily vehicle-related financing and leasing activities.

Corporate Other

Corporate Other primarily includes corporate governance expenses, interest income (excluding interest earned on our extended service contract portfolio that is included in our Automotive segment) and portfolio gains and losses from our cash, cash equivalents, and marketable securities, and foreign exchange derivatives gains and losses associated with intercompany lending. Corporate governance expenses are primarily administrative, delivering benefit on behalf of the global enterprise and are not allocated to specific Automotive business units or operating segments. These include expenses related to setting and directing global policy, providing oversight and stewardship, and promoting the Company’s interests. The underlying assets and liabilities associated with these activities remain with the respective Automotive and Mobility segments.

Interest on Debt

Interest on Debt is presented as a separate reconciling item and consists of interest expense on Automotive and Other debt. The underlying liability is reported in the Automotive segment and in Corporate Other.

NOTE 18. SEGMENT INFORMATION (Continued)

Special Items

Special Items are presented as a separate reconciling item. They consist of (i) pension and OPEB remeasurement gains and losses, (ii) significant personnel and dealer-related costs stemming from our efforts to match production capacity and cost structure to market demand and changing model mix, and (iii) other items that we do not necessarily consider to be indicative of earnings from ongoing operating activities. Our management excludes these items from its review of the results of the operating segments for purposes of measuring segment profitability and allocating resources. We also report these special items separately to help investors track amounts related to these activities and to allow investors analyzing our results to identify certain infrequent significant items that they may wish to exclude when considering the trend of ongoing operating results.

Key financial information for the periods ended or at September 30 was as follows (in millions):



	Automotive			Mobility			Ford Credit		Corporate Other			Interest on Debt			Special Items			Adjustments				Total
Third Quarter 2017
Revenues	$	33,646		$	3		$	2,802	$	—		$	—		$	—		$	—			$	36,451
Income/(loss) before income taxes	1,879			(72		)	600		(122		)	(298		)	(217		)	—				1,770
Equity in net income/(loss) of affiliated companies	305			1			10		—			—			—			—				316
Cash, cash equivalents, and marketable securities	26,144			1			11,936		—			—			—			—				38,081
Restricted cash	4			7			120		—			—			—			—				131
Total assets	104,110			85			154,868		—			—			—			(7,214		)	(a)	251,849

Third Quarter 2018
Revenues	$	34,660		$	8		$	2,998	$	—		$	—		$	—		$	—			$	37,666
Income/(loss) before income taxes	1,402			(196		)	678		(216		)	(343		)	(231		)	—				1,094
Equity in net income/(loss) of affiliated companies	(40		)	—			8		—			—			—			—				(32		)
Cash, cash equivalents, and marketable securities	23,579			26			12,737		—			—			—			—				36,342
Restricted cash	16			30			147		—			—			—			—				193
Total assets	102,615			510			159,976		—			—			—			(4,135		)	(a)	258,966

	Automotive			Mobility			Ford Credit		Corporate Other			Interest on Debt			Special Items			Adjustments				Total
First Nine Months 2017
Revenues	$	107,234		$	7		$	8,209	$	—		$	—		$	—		$	—			$	115,450
Income/(loss) before income taxes	6,449			(199		)	1,700		(340		)	(882		)	(441		)	—				6,287
Equity in net income/(loss) of affiliated companies	910			—			25		—			—			—			—				935

First Nine Months 2018
Revenues	$	109,577		$	18		$	8,950	$	—		$	—		$	—		$	—			$	118,545
Income/(loss) before income taxes	4,291			(479		)	1,964		(231		)	(933		)	(250		)	—				4,362
Equity in net income/(loss) of affiliated companies	232			—			20		—			—			—			—				252

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(a)	Includes eliminations of intersegment transactions occurring in the ordinary course of business and deferred tax netting.