Cash, Cash Equivalents, and Marketable Securities (Tables)

6 Months Ended

Jun. 30, 2019

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

The fair values of cash, cash equivalents, and marketable securities measured at fair value on a recurring basis were as follows (in millions):



		December 31, 2018
	Fair Value Level	Automotive		Mobility		Ford Credit		Consolidated
Cash and cash equivalents
U.S. government	1	$	220	$	—	$	139	$	359
U.S. government agencies	2	496		—		25		521
Non-U.S. government and agencies	2	169		—		114		283
Corporate debt	2	174		—		884		1,058
Total marketable securities classified as cash equivalents		1,059		—		1,162		2,221
Cash, time deposits, and money market funds		5,999		53		8,445		14,497
Total cash and cash equivalents		$	7,058	$	53	$	9,607	$	16,718

Marketable securities
U.S. government	1	$	3,014	$	—	$	289	$	3,303
U.S. government agencies	2	1,953		—		65		2,018
Non-U.S. government and agencies	2	4,674		—		610		5,284
Corporate debt	2	5,614		—		198		5,812
Equities (a)	1	424		—		—		424
Other marketable securities	2	246		—		146		392
Total marketable securities		$	15,925	$	—	$	1,308	$	17,233

Restricted cash		$	16	$	33	$	140	$	189

		June 30, 2019
	Fair Value Level	Automotive		Mobility		Ford Credit		Consolidated
Cash and cash equivalents
U.S. government	1	$	1,245	$	—	$	575	$	1,820
U.S. government agencies	2	881		—		849		1,730
Non-U.S. government and agencies	2	1,199		—		875		2,074
Corporate debt	2	497		—		907		1,404
Total marketable securities classified as cash equivalents		3,822		—		3,206		7,028
Cash, time deposits, and money market funds		5,559		118		9,412		15,089
Total cash and cash equivalents		$	9,381	$	118	$	12,618	$	22,117

Marketable securities
U.S. government	1	$	2,420	$	—	$	338	$	2,758
U.S. government agencies	2	1,654		—		135		1,789
Non-U.S. government and agencies	2	4,145		—		1,349		5,494
Corporate debt	2	4,962		—		200		5,162
Equities (a)	1	277		—		—		277
Other marketable securities	2	226		—		225		451
Total marketable securities		$	13,684	$	—	$	2,247	$	15,931

Restricted cash		$	41	$	24	$	124	$	189

__________

(a) Net unrealized gains/losses on equities were a $25 million gain and a $147 million loss at December 31, 2018 and June 30, 2019, respectively.

Available-for-sale Securities [Table Text Block]

The cash equivalents and marketable securities accounted for as available-for-sale (“AFS”) debt securities were as follows (in millions):



	December 31, 2018
										Fair Value of Securities with Contractual Maturities
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Within 1 Year		After 1 Year through 5 Years		After 5 Years
Automotive
U.S. government	$	2,933	$	5	$	(10	)	$	2,928	$	1,714	$	1,214	$	—
U.S. government agencies	1,920		—		(18		)	1,902		797		1,087		18
Non-U.S. government and agencies	3,841		4		(37		)	3,808		194		3,614		—
Corporate debt	4,010		3		(33		)	3,980		1,148		2,830		2
Other marketable securities	207		—		—			207		1		134		72
Total	$	12,911	$	12	$	(98	)	$	12,825	$	3,854	$	8,879	$	92

	June 30, 2019
										Fair Value of Securities with Contractual Maturities
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Within 1 Year		After 1 Year through 5 Years		After 5 Years
Automotive
U.S. government	$	2,360	$	13	$	—		$	2,373	$	1,423	$	945	$	5
U.S. government agencies	1,660		2		(3		)	1,659		963		687		9
Non-U.S. government and agencies	3,736		19		(3		)	3,752		882		2,865		5
Corporate debt	4,850		45		(1		)	4,894		1,699		3,177		18
Other marketable securities	186		2		(1		)	187		—		105		82
Total	$	12,792	$	81	$	(8	)	$	12,865	$	4,967	$	7,779	$	119

Sales proceeds and gross realized gains/losses from the sale of AFS debt securities for the periods ended June 30 were as follows (in millions):



	Second Quarter				First Half
	2018		2019		2018		2019
Automotive
Sales proceeds	$	1,507	$	1,858	$	2,846	$	3,000
Gross realized gains	1		3		1		5
Gross realized losses	5		5		11		10

Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block]

The present fair values and gross unrealized losses for cash equivalents and marketable securities accounted for as AFS debt securities that were in an unrealized loss position, aggregated by investment category and the length of time that individual securities have been in a continuous loss position, were as follows (in millions):



	December 31, 2018
	Less than 1 Year					1 Year or Greater					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses

Automotive
U.S. government	$	199	$	(1	)	$	1,637	$	(9	)	$	1,836	$	(10	)
U.S. government agencies	193		(1		)	1,596		(17		)	1,789		(18		)
Non-U.S. government and agencies	341		(1		)	2,445		(36		)	2,786		(37		)
Corporate debt	1,816		(16		)	856		(17		)	2,672		(33		)
Other marketable securities	125		—			—		—			125		—
Total	$	2,674	$	(19	)	$	6,534	$	(79	)	$	9,208	$	(98	)

	June 30, 2019
	Less than 1 Year					1 Year or Greater					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Automotive
U.S. government	$	183	$	—		$	249	$	—		$	432	$	—
U.S. government agencies	85		—			959		(3		)	1,044		(3		)
Non-U.S. government and agencies	27		—			1,076		(3		)	1,103		(3		)
Corporate debt	82		—			379		(1		)	461		(1		)
Other marketable securities	10		—			20		(1		)	30		(1		)
Total	$	387	$	—		$	2,683	$	(8	)	$	3,070	$	(8	)

Schedule Cash, Cash Equivalents, and Restricted Cash [Table Text Block]

Cash, cash equivalents, and restricted cash as reported in the consolidated statement of cash flows were as follows (in millions):



	December 31, 2018		June 30, 2019
Cash and cash equivalents	$	16,718	$	22,117
Restricted cash (a)	189		189
Total cash, cash equivalents, and restricted cash	$	16,907	$	22,306

__________

(a)

Included in Other assets in the non-current assets section of our consolidated balance sheet.