Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Fair And Intrinsic Value Of Restricted Stock Units [Table Text Block]

The fair value of vested RSUs and RSSs as well as the compensation cost for the years ended December 31 were as follows (in millions):

	2021		2022		2023
Fair value of vested shares	$	217	$	252	$	303
Compensation cost (a)	229		223		356

__________

(a)    Net of tax benefit of $74 million, $113 million, and $104 million in 2021, 2022, and 2023, respectively.

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

Inputs and assumptions used to calculate the fair value at grant date through a Monte Carlo simulation were as follows:

	2021			2022			2023
Fair value per stock award	$	13.45		$	18.10		$	18.57
Grant date stock price	11.93			16.85			13.08
Assumptions:
Ford’s stock price expected volatility (a)	39.9		%	44.8		%	49.5		%
Expected average volatility of peer companies (a)	39.6			39.6			49.6
Risk-free interest rate	0.32			1.62			4.57

__________

(a)Expected volatility based on three years of daily closing share price changes ending on the grant date.

Restricted Stock Units Activity [Table Text Block]

During 2023, activity for RSUs and RSSs was as follows (in millions, except for weighted-average fair value):

	Shares	Weighted- Average Fair Value
Outstanding, beginning of year	63.9	$	12.90
Granted (a)	54.8	12.98
Vested (a)	(27.2)	11.11
Forfeited	(10.9)	10.62
Outstanding, end of year (b)	80.6	13.86

__________

(a)Includes shares awarded to non-employee directors.

(b)Excludes 1,225,297 non-employee director shares that were vested but unissued at December 31, 2023.

Share-Based Payment Arrangement, Option, Activity

Activity related to stock options for 2023 was as follows:

	Shares (millions)	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)	Aggregate Intrinsic Value (millions)
Outstanding, beginning of period	10.1	$	10.84
Granted	—	—
Exercised (a)	(1.3)	11.90
Forfeited (including expirations)	(0.4)	12.75
Outstanding, end of period	8.4	10.60
Exercisable, end of period	8.4	10.60		3.73	$	26.8
Options expected to vest	—	—		—	—

__________

(a)Exercised at option prices ranging from $6.19 to $12.75 during 2023.