Ford Credit Finance Receivables (Tables)

12 Months Ended

Dec. 31, 2019

Receivables [Abstract]

Net finance receivables [Table Text Block]

Finance receivables, net at December 31 were as follows (in millions):

	2018			2019
Consumer
Retail installment contracts, gross	$	70,874		$	68,905
Finance leases, gross	8,748			8,566
Retail financing, gross	79,622			77,471
Unearned interest supplements	(3,508		)	(3,589		)
Consumer finance receivables	76,114			73,882
Non-Consumer
Dealer financing	34,372			33,985
Non-Consumer finance receivables	34,372			33,985
Total recorded investment	$	110,486		$	107,867
Recorded investment in finance receivables	$	110,486		$	107,867
Allowance for credit losses	(589		)	(513		)
Finance receivables, net	$	109,897		$	107,354
Current portion	$	54,353		$	53,651
Non-current portion	55,544			53,703
Finance receivables, net	$	109,897		$	107,354
Net finance receivables subject to fair value (a)	$	101,471		$	99,168
Fair value (b)	100,877			99,297

__________

(a) Net finance receivables subject to fair value exclude finance leases. Previously, certain consumer financing products in Europe were classified as retail installment contracts. These products are now classified as finance leases. Comparative information has been revised to reflect this change.

(b) The fair value of finance receivables is categorized within Level 3 of the hierarchy.

Sales-type and Direct Financing Leases, Lease Receivable, Maturity [Table Text Block]

The amounts contractually due on Ford Credit’s finance lease receivables at December 31 were as follows (in millions):

	2019
2020	$	1,911
2021	1,853
2022	1,418
2023	673
2024	83
Thereafter	—
Total future cash payments	5,938
Less: Present value discount	(287		)
Finance lease receivables	$	5,651

Sales-Type and Direct Financing Leases [Table Text Block]

The reconciliation from finance lease receivables to finance leases, gross and finance leases, net at December 31 was as follows (in millions):

	2019
Finance lease receivables	$	5,651
Unguaranteed residual assets	2,795
Initial direct costs	120
Finance leases, gross	8,566
Unearned interest supplements from Ford and affiliated companies	(363		)
Allowance for credit losses	(17		)
Finance leases, net	$	8,186

Aging analysis for total finance receivables [Text Block]

The aging analysis of Ford Credit’s finance receivables balances at December 31 was as follows (in millions):

	2018		2019
Consumer
31-60 days past due	$	859	$	839
61-90 days past due	123		126
91-120 days past due	39		40
Greater than 120 days past due	39		35
Total past due	1,060		1,040
Current	75,054		72,842
Consumer finance receivables	76,114		73,882
Non-Consumer
Total past due	76		62
Current	34,296		33,923
Non-Consumer finance receivables	34,372		33,985
Total recorded investment	$	110,486	$	107,867

Financing receivable credit quality indicators [Table Text Block]

The credit quality analysis of dealer financing receivables at December 31 was as follows (in millions):

	2018		2019
Dealer Financing
Group I	$	27,032	$	26,281
Group II	5,635		5,407
Group III	1,576		2,108
Group IV	129		189
Total recorded investment	$	34,372	$	33,985