Ford Credit Finance Receivables (Tables)

3 Months Ended

Mar. 31, 2020

Financing Receivable, Past Due [Line Items]

Financing Receivable, Past Due [Table Text Block]

The credit quality analysis of consumer receivables at December 31, 2019 was as follows (in millions):

	Total
Consumer
31 - 60 days past due	$	839
61 - 120 days past due	166
Greater than 120 days past due	35
Total past due	1,040
Current	72,842
Total	$	73,882

The credit quality analysis of consumer receivables at March 31, 2020 was as follows (in millions):

	Amortized Cost Basis by Origination Year
	Prior to 2016		2016		2017		2018		2019		2020		Total
Consumer
31 - 60 days past due	$	79	$	95	$	139	$	185	$	143	$	10	$	651
61 - 120 days past due	13		21		36		43		35		1		149
Greater than 120 days past due	16		7		6		6		2		—		37
Total past due	108		123		181		234		180		11		837
Current	2,181		5,080		11,048		19,267		26,210		6,198		69,984
Total	$	2,289	$	5,203	$	11,229	$	19,501	$	26,390	$	6,209	$	70,821

Net finance receivables [Table Text Block]

Finance receivables are recorded at the time of origination or purchase at fair value and are subsequently reported at amortized cost, net of any allowance for credit losses.

For all finance receivables, Ford Credit defines "past due" as any payment, including principal and interest, that is at least 31 days past the contractual due date.

Ford Credit finance receivables, net were as follows (in millions):

	December 31, 2019			March 31, 2020
Consumer
Retail installment contracts, gross	$	68,905		$	66,116
Finance leases, gross	8,566			8,107
Retail financing, gross	77,471			74,223
Unearned interest supplements	(3,589		)	(3,402		)
Consumer finance receivables	73,882			70,821
Non-Consumer
Dealer financing	33,985			36,440
Non-Consumer finance receivables	33,985			36,440
Total recorded investment	$	107,867		$	107,261
Recorded investment in finance receivables	$	107,867		$	107,261
Allowance for credit losses	(513		)	(1,231		)
Finance receivables, net	$	107,354		$	106,030
Current portion	$	53,651		$	54,889
Non-current portion	53,703			51,141
Total finance receivables, net	$	107,354		$	106,030
Net finance receivables subject to fair value (a)	$	99,168		$	98,332
Fair value (b)	99,297			98,513

__________

(a) Net finance receivables subject to fair value exclude finance leases.

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

Financing receivable credit quality indicators [Table Text Block]

The credit quality analysis of dealer financing receivables at December 31, 2019 was as follows (in millions):

	Total
Dealer financing
Group I	$	26,281
Group II	5,407
Group III	2,108
Group IV	189
Total (a)	$	33,985

__________

(a) Total past due dealer financing receivables at December 31, 2019 were $62 million.

The credit quality analysis of dealer financing receivables at March 31, 2020 was as follows (in millions):

	Amortized Cost Basis by Origination Year														Wholesale Loans
	Dealer Loans
	Prior to 2016		2016		2017		2018		2019		2020		Total				Total
Group I	$	676	$	147	$	154	$	276	$	120	$	122	$	1,495	$	26,774	$	28,269
Group II	31		30		28		14		24		45		172		5,886		6,058
Group III	9		—		4		17		22		17		69		1,943		2,012
Group IV	2		1		—		—		2		4		9		92		101
Total (a)	$	718	$	178	$	186	$	307	$	168	$	188	$	1,745	$	34,695	$	36,440

__________

(a)

Total past due dealer financing receivables at March 31, 2020 were $34 million.