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Net Investment in Operating Leases
 6 Months Ended
Jun. 30, 2019
Net Investment in Leases [Abstract]  
Lessor, Operating Leases [Text Block] NET INVESTMENT IN OPERATING LEASES

Net investment in operating leases consists primarily of lease contracts for vehicles with individuals, daily rental companies, government entities, and fleet customers. Assets subject to operating leases are depreciated using the straight-line method over the term of the lease to reduce the asset to its estimated residual value. Estimated residual values are based on assumptions for used vehicle prices at lease termination and the number of vehicles that are expected to be returned.

The net investment in operating leases was as follows (in millions):
 
 
December 31, 2018
 
June 30,
2019
Automotive Segment
 
 
 
 
Vehicles, net of depreciation
 
$
1,705

 
$
2,107

Ford Credit Segment
 
 
 
 
Vehicles and other equipment, at cost (a)
 
33,557

 
33,583

Accumulated depreciation
 
(6,143
)
 
(5,892
)
Total Ford Credit Segment
 
27,414

 
27,691

Total
 
$
29,119

 
$
29,798

__________
(a)
Includes Ford Credit’s operating lease assets of $16.3 billion and $14 billion at December 31, 2018 and June 30, 2019, respectively, that have been included in securitization transactions. These net investments in operating leases are available only for payment of the debt or other obligations issued or arising in the securitization transactions; they are not available to pay other obligations or the claims of other creditors.

Ford Credit Segment

Included in Ford Credit revenues are rents on operating leases. The amounts contractually due for minimum rentals on operating leases at December 31, 2018 were as follows (in millions):
 
 
2019
 
2020
 
2021
 
2022
 
2023
 
Total
Minimum rentals on operating leases
 
$
4,708

 
$
2,929

 
$
1,083

 
$
83

 
$
6

 
$
8,809



The amounts contractually due on operating leases at June 30, 2019 were as follows (in millions):
 
 
Within one year
 
After one year and within two years
 
After two years and within three years
 
After three years and within four years
 
After four years and within five years
 
Total
Operating lease payments
 
$
4,746

 
$
2,940

 
$
1,029

 
$
73

 
$
5

 
$
8,793