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Equity in Net Assets of Affiliated Companies (Tables)
 12 Months Ended
Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Equity Method Investments [Table Text Block]
Our carrying value and ownership percentages of our equity method investments at December 31 were as follows (in millions, except percentages):
 Investment BalanceOwnership Percentage
202120222022
BlueOval SK, LLC$— $690 50 %
Ford Otomotiv Sanayi Anonim Sirketi278 479 41 
Jiangling Motors Corporation, Limited (a)468 471 32 
Changan Ford Automobile Corporation, Limited (b)860 409 50 
AutoAlliance (Thailand) Co., Ltd.391 346 50 
FFS Finance South Africa (Pty) Limited70 70 50 
Ionity Holding GmbH & Co. KG41 67 15 
Argo AI, LLC (c)2,042 — 44 
Ford Sollers Netherlands B.V. (d)108 — — 
Other287 266 Various
Total$4,545 $2,798 
__________
(a)In 2021 and 2022, Jiangling Motors Corporation, Limited recorded restructuring charges, our share of which was $10 million and $13 million, respectively. These charges are included in Equity in net income/(loss) of affiliated companies.
(b)In 2022, Changan Ford Automobile Corporation, Limited recorded long-lived asset and other asset impairment charges as well as restructuring charges, our share of which was $368 million. These charges are included in Equity in net income/(loss) of affiliated companies.
(c)See below for information on our investment in Argo AI, LLC.
(d)In 2022, we fully impaired our $93 million investment in Ford Sollers Netherlands B.V., and also sold our interest to the joint venture (with an option to repurchase within five years) for a nominal value resulting in the release of the $25 million carrying amount of our associated foreign currency translation adjustment. These charges are included in Equity in net income/(loss) of affiliated companies and Other income/(loss), respectively.

We recorded $180 million, $452 million, and $452 million of dividends from these affiliated companies for the years ended December 31, 2020, 2021, and 2022, respectively.

An aggregate summary of the balance sheets and income statements of our equity method investees, on a stand alone basis, as reported by those investees at December 31 is below (in millions). Our investment in each equity method investee is reported in Equity in net assets of affiliated companies, and our proportionate share of each of the entities’ income/(loss) is reported in Equity in net income/(loss) of affiliated companies.
Summarized Balance Sheet20212022
Current assets$9,342 $10,361 
Non-current assets12,009 11,142 
Total assets$21,351 $21,503 
Current liabilities$9,461 $10,371 
Non-current liabilities4,069 4,498 
Total liabilities$13,530 $14,869 
Equity attributable to noncontrolling interests$— $— 

For the years ended December 31,
Summarized Income Statement202020212022
Total revenue$24,033 $27,760 $27,153 
Income/(Loss) before income taxes (a)282 1,002 (1,806)
Net income/(loss) (a)305 1,029 (1,769)
__________
(a)    The 2022 results reflects Argo AI’s impairment, partially offset by the net income/(loss) of our other equity method investees.
NOTE 14.  EQUITY IN NET ASSETS OF AFFILIATED COMPANIES (Continued)

In the ordinary course of business, we buy/sell various products and services including vehicles, parts, and components to/from our equity method investees. In addition, we receive royalty income.

Transactions with equity method investees reported for the years ended or at December 31 were as follows (in millions):
For the years ended December 31,
Income Statement202020212022
Sales $4,126 $4,777 $4,369 
Purchases 8,439 9,245 9,670 
Royalty income381 458 483 
Balance Sheet20212022
Receivables$724 $1,007 
Payables1,035 1,676