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Cash, Cash Equivalents, and Marketable Securities (Notes)
 9 Months Ended
Sep. 30, 2020
Cash, Cash Equivalents, and Marketable Securities [Abstract]  
Cash, Cash Equivalents, and Marketable Securities [Text Block] CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES
Cash Equivalents

Cash and cash equivalents are highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of change in value due to interest rate, quoted price, or penalty on withdrawal. A debt security is classified as a cash equivalent if it meets these criteria and if it has a remaining time to maturity of three months or less from the date of purchase. Amounts on deposit and available upon demand, or negotiated to provide for daily liquidity without penalty, are classified as cash and cash equivalents. Time deposits, certificates of deposit, and money market accounts that meet the above criteria are reported at par value on our consolidated balance sheets.

Marketable Securities

Investments in securities with a maturity date greater than three months at the date of purchase, and other securities for which there is more than an insignificant risk of change in value due to interest rate, quoted price, or penalty on withdrawal, are classified as marketable securities.

Realized gains and losses and interest income on all of our marketable securities and unrealized gains and losses on securities not classified as available for sale are recorded in Other income/(loss), net. Unrealized gains and losses on available-for-sale securities are recognized in Unrealized gains and losses on securities, a component of Other comprehensive income/(loss), net of tax. Realized gains and losses and reclassifications of accumulated other comprehensive income into net income are measured using the specific identification method.

On a quarterly basis, we review our available-for-sale debt securities for credit losses. We compare the present value of cash flows expected to be collected from the security with the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis of the security, we determine if a credit loss allowance is necessary. If a credit loss allowance is necessary, we will record an allowance, limited by the amount that fair value is less than the amortized cost basis, and recognize the corresponding charge in Other income/(loss), net. Factors we consider include the severity of the impairment, the reason for the decline in value, interest rate changes, and counterparty long-term ratings.
NOTE 7. CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES (Continued)

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, 2019
 Fair Value LevelAutomotiveMobilityFord CreditConsolidated
Cash and cash equivalents  
U.S. government1$520 $— $— $520 
U.S. government agencies2125 — — 125 
Non-U.S. government and agencies2601 — 350 951 
Corporate debt2642 — 604 1,246 
Total marketable securities classified as cash equivalents
1,888 — 954 2,842 
Cash, time deposits, and money market funds6,432 117 8,113 14,662 
Total cash and cash equivalents$8,320 $117 $9,067 $17,504 
Marketable securities
U.S. government1$2,930 $— $195 $3,125 
U.S. government agencies21,548 — 210 1,758 
Non-U.S. government and agencies24,217 — 2,408 6,625 
Corporate debt24,802 — 193 4,995 
Equities (a)181 — — 81 
Other marketable securities2273 — 290 563 
Total marketable securities$13,851 $— $3,296 $17,147 
Restricted cash$15 $21 $139 $175 
Cash, cash equivalents, and restricted cash in held-for-sale assets
$— $— $62 $62 
September 30, 2020
Fair Value LevelAutomotiveMobilityFord CreditConsolidated
Cash and cash equivalents  
U.S. government1$3,277 $— $1,217 $4,494 
U.S. government agencies2706 — 850 1,556 
Non-U.S. government and agencies2916 — 1,105 2,021 
Corporate debt2545 — 900 1,445 
Total marketable securities classified as cash equivalents
5,444 — 4,072 9,516 
Cash, time deposits, and money market funds7,679 62 7,006 14,747 
Total cash and cash equivalents$13,123 $62 $11,078 $24,263 
Marketable securities
U.S. government1$3,724 $— $1,275 $4,999 
U.S. government agencies23,124 — 235 3,359 
Non-U.S. government and agencies23,645 — 2,111 5,756 
Corporate debt25,292 — 313 5,605 
Equities (a)1299 — — 299 
Other marketable securities2236 — 314 550 
Total marketable securities$16,320 $— $4,248 $20,568 
Restricted cash$30 $5 $174 $209 
Cash, cash equivalents, and restricted cash in held-for-sale assets
$— $— $— $— 
__________
(a)Net unrealized gains/losses incurred during the reporting periods on equity securities still held at December 31, 2019 and September 30, 2020 were a $44 million loss and a $111 million gain, respectively.
NOTE 7. CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES (Continued)

The cash equivalents and marketable securities accounted for as available-for-sale (“AFS”) securities were as follows (in millions):
December 31, 2019
Fair Value of Securities with
Contractual Maturities
 Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueWithin 1 YearAfter 1 Year through
5 Years		After 5 Years
Automotive  
U.S. government$2,839 $11 $(1)$2,849 $1,028 $1,772 $49 
U.S. government agencies1,445 2 (1)1,446 830 589 27 
Non-U.S. government and agencies3,925 20 (1)3,944 1,546 2,398 — 
Corporate debt5,029 53 — 5,082 1,837 3,245 — 
Other marketable securities230 1 — 231 — 149 82 
Total
$13,468 $87 $(3)$13,552 $5,241 $8,153 $158 
 
September 30, 2020
Fair Value of Securities with
Contractual Maturities
Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueWithin 1 YearAfter 1 Year through
5 Years		After 5 Years
Automotive
U.S. government$2,660 $52 $— $2,712 $987 $1,722 $3 
U.S. government agencies2,187 15 (1)2,201 708 1,371 122 
Non-U.S. government and agencies2,907 39 — 2,946 1,085 1,851 10 
Corporate debt5,549 102 (2)5,649 1,727 3,897 25 
Other marketable securities206 3 — 209 2 148 59 
Total
$13,509 $211 $(3)$13,717 $4,509 $8,989 $219 

Sales proceeds and gross realized gains/losses from the sale of AFS securities for the periods ended September 30 were as follows (in millions):
Third QuarterFirst Nine Months
2019202020192020
Automotive
Sales proceeds$1,176 $2,243 $4,176 $6,560 
Gross realized gains3 16 8 44 
Gross realized losses— 1 10 11 
NOTE 7. CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES (Continued)

The present fair values and gross unrealized losses for cash equivalents and marketable securities accounted for as AFS 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, 2019
Less than 1 Year1 Year or GreaterTotal
 Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
Automotive  
U.S. government$183 $(1)$50 $— $233 $(1)
U.S. government agencies370 (1)344 — 714 (1)
Non-U.S. government and agencies463 — 390 (1)853 (1)
Corporate debt29 — 53 — 82 — 
Other marketable securities59 — 17 — 76 — 
Total
$1,104 $(2)$854 $(1)$1,958 $(3)
 
September 30, 2020
Less than 1 Year1 Year or GreaterTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
Automotive
U.S. government$55 $— $— $— $55 $— 
U.S. government agencies170 — 42 (1)212 (1)
Non-U.S. government and agencies442 — 46 — 488 — 
Corporate debt739 (2)9 — 748 (2)
Other marketable securities4 — 13 — 17 — 
Total
$1,410 $(2)$110 $(1)$1,520 $(3)

We determine credit losses on available-for-sale debt securities using the specific identification method. During the first nine months of 2020, we did not recognize any credit loss. The unrealized losses on securities are due to changes in interest rates and market liquidity.

Cash, Cash Equivalents, and Restricted Cash

Cash, cash equivalents, and restricted cash, as reported in the consolidated statements of cash flows, were as follows (in millions):
December 31,
2019		September 30,
2020
Cash and cash equivalents$17,504 $24,263 
Restricted cash (a)175 209 
Cash, cash equivalents, and restricted cash in held-for-sale assets62 — 
Total cash, cash equivalents, and restricted cash$17,741 $24,472 
__________
(a)Included in Other assets in the non-current assets section of our consolidated balance sheets.