| Schedule of debt outstanding [Table Text Block] |
The carrying value of Automotive, Ford Credit, and Other debt was as follows (in millions): | | | | | | | | | Automotive | December 31,
2018 | | September 30,
2019 | Debt payable within one year | | | | Short-term | $ | 614 |
| | $ | 512 |
| 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 |
| | 519 |
| Unamortized (discount)/premium | (16 | ) | | — |
| Total debt payable within one year | 2,314 |
| | 1,622 |
| Long-term debt payable after one year | |
| | |
| Public unsecured debt securities (a) | 9,033 |
| | 9,783 |
| DOE ATVM Incentive Program | 1,470 |
| | 1,027 |
| Delayed draw term loan (b) | — |
| | 1,500 |
| Other debt | 1,026 |
| | 562 |
| Adjustments | | | | Unamortized (discount)/premium | (224 | ) | | (164 | ) | Unamortized issuance costs | (72 | ) | | (93 | ) | Total long-term debt payable after one year | 11,233 |
| | 12,615 |
| Total Automotive | $ | 13,547 |
| | $ | 14,237 |
| Fair value of Automotive debt (c) | $ | 13,319 |
| | $ | 14,806 |
| Ford Credit | |
| | |
| Debt payable within one year | |
| | |
| Short-term | $ | 14,705 |
| | $ | 13,541 |
| Long-term payable within one year | |
| | |
| Unsecured debt | 14,373 |
| | 14,854 |
| Asset-backed debt | 22,130 |
| | 24,496 |
| Adjustments | | | | Unamortized (discount)/premium | 2 |
| | — |
| Unamortized issuance costs | (16 | ) | | (19 | ) | Fair value adjustments (d) | (15 | ) | | (20 | ) | Total debt payable within one year | 51,179 |
| | 52,852 |
| Long-term debt payable after one year | | | | Unsecured debt | 52,409 |
| | 55,651 |
| Asset-backed debt | 36,844 |
| | 30,209 |
| Adjustments | | | | Unamortized (discount)/premium | — |
| | (2 | ) | Unamortized issuance costs | (195 | ) | | (200 | ) | Fair value adjustments (d) | (171 | ) | | 764 |
| Total long-term debt payable after one year | 88,887 |
| | 86,422 |
| Total Ford Credit | $ | 140,066 |
| | $ | 139,274 |
| Fair value of Ford Credit debt (c) | $ | 138,809 |
| | $ | 140,110 |
| 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 |
| | $ | 709 |
|
__________ | | (a) | Public unsecured debt securities increased by $750 million reflecting our unsecured debt (retail bond) issuance in the second quarter of 2019. |
| | (b) | We drew $500 million in the second quarter of 2019 and $1 billion in the third quarter of 2019 under our delayed draw term loan facility. |
| | (c) | The fair value of debt includes $458 million and $396 million of Automotive segment short-term debt and $13.8 billion and $12.7 billion of Ford Credit segment short-term debt at December 31, 2018 and September 30, 2019, respectively, carried at cost, which approximates fair value. All other debt is categorized within Level 2 of the fair value hierarchy. |
(d) These adjustments relate to designated fair value hedges. The carrying value of hedged debt was $38 billion and $39.3 billion at December 31, 2018 and September 30, 2019, respectively.
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