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Debt (Notes)
 3 Months Ended
Mar. 31, 2019
Debt Disclosure [Abstract]  
DEBT
DEBT
The carrying value of Automotive, Ford Credit, and Other debt was as follows (in millions):
Automotive
December 31,
2018
 
March 31,
2019
Debt payable within one year
 
 
 
Short-term
$
614

 
$
1,212

Long-term payable within one year
 

 
 

U.S. Department of Energy Advanced Technology Vehicles Manufacturing (“DOE ATVM”) Incentive Program
591

 
591

Other debt
1,125

 
734

Unamortized (discount)/premium
(16
)
 
(14
)
Total debt payable within one year
2,314

 
2,523

Long-term debt payable after one year
 

 
 

Public unsecured debt securities
9,033

 
9,033

DOE ATVM Incentive Program
1,470

 
1,323

Other debt
1,026

 
1,018

Adjustments
 
 
 
Unamortized (discount)/premium
(224
)
 
(216
)
Unamortized issuance costs
(72
)
 
(71
)
Total long-term debt payable after one year
11,233

 
11,087

Total Automotive
$
13,547

 
$
13,610

 
 
 
 
Fair value of Automotive debt (a)
$
13,319

 
$
13,486

 
 
 
 
Ford Credit
 

 
 

Debt payable within one year
 

 
 

Short-term
$
14,705

 
$
14,626

Long-term payable within one year
 

 
 

Unsecured debt
14,373

 
13,814

Asset-backed debt
22,130

 
23,502

Adjustments
 
 
 
Unamortized (discount)/premium
2

 
1

Unamortized issuance costs
(16
)
 
(19
)
Fair value adjustments (b)
(15
)
 
(29
)
Total debt payable within one year
51,179

 
51,895

Long-term debt payable after one year
 
 
 
Unsecured debt
52,409

 
55,849

Asset-backed debt
36,844

 
35,306

Adjustments
 
 
 
Unamortized (discount)/premium
—

 
—

Unamortized issuance costs
(195
)
 
(202
)
Fair value adjustments (b)
(171
)
 
102

Total long-term debt payable after one year
88,887

 
91,055

Total Ford Credit
$
140,066

 
$
142,950

 
 
 
 
Fair value of Ford Credit debt (a)
$
138,809

 
$
142,595

 
 
 
 
Other
 
 
 
Long-term debt payable within one year
$
—

 
$
130

Long-term debt payable after one year
 
 
 
Unsecured debt
604

 
474

Adjustments
 
 
 
Unamortized (discount)/premium
(3
)
 
(3
)
Unamortized issuance costs
(1
)
 
(1
)
Total long-term debt payable after one year
600

 
470

Total Other
$
600

 
$
600

 
 
 
 
Fair value of Other debt
$
697

 
$
693

__________
(a)
The fair value of debt includes $458 million and $860 million of Automotive segment short-term debt and $13.8 billion and $13.6 billion of Ford Credit segment short-term debt at December 31, 2018 and March 31, 2019, respectively, carried at cost, which approximates fair value. All other debt is categorized within Level 2 of the fair value hierarchy.
(b)
These adjustments relate to designated fair value hedges. The carrying value of hedged debt was $38 billion and $38.1 billion at December 31, 2018 and March 31, 2019, respectively.