XML 65 R32.htm IDEA: XBRL DOCUMENT v3.10.0.1
Derivative Financial Instruments and Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]
The gains / (losses), by hedge designation, reported in income for the years ended December 31 were as follows (in millions):
 
2016
 
2017
 
2018
Fair value hedges
 
 
 
 
 
Interest rate contracts
 
 
 
 
 
Net interest settlements and accruals on hedging instruments
$
367

 
$
217

 
$
10

Fair value changes on hedging instruments (a)
(120
)
 
(268
)
 
(155
)
Fair value changes on hedged debt (a)
124

 
267

 
153

Derivatives not designated as hedging instruments
 
 
 
 
 
Interest rate contracts
(9
)
 
58

 
(84
)
Foreign currency exchange contracts (b)
179

 
(150
)
 
163

Cross-currency interest rate swap contracts
398

 
103

 
(244
)
Total
$
939

 
$
227

 
$
(157
)
__________
(a)
For 2016 and 2017, the fair value changes on hedging instruments and on hedged debt were reported in Other income, net; effective 2018, these amounts were reported in Interest expense.
(b)
Reflects forward contracts between Ford Credit and an affiliated company.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
The fair value of our derivative instruments and the associated notional amounts, presented gross, at December 31 were as follows (in millions):
 
2017
 
2018
 
Notional
 
Fair Value of Assets
 
Fair Value of Liabilities
 
Notional
 
Fair Value of Assets
 
Fair Value of Liabilities
Fair value hedges
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
$
28,008

 
$
248

 
$
135

 
$
22,989

 
$
158

 
$
208

Derivatives not designated as hedging instruments
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
60,504

 
276

 
137

 
76,904

 
235

 
274

Foreign currency exchange contracts
2,406

 
3

 
10

 
4,318

 
45

 
24

Cross-currency interest rate swap contracts
4,006

 
408

 
28

 
5,235

 
232

 
157

Total derivative financial instruments, gross (a) (b)
$
94,924

 
$
935

 
$
310

 
$
109,446

 
$
670

 
$
663

__________
(a)
At December 31, 2017 and 2018, we held collateral of $15 million and $19 million, and we posted collateral of $38 million and $59 million, respectively.
(b)
At December 31, 2017 and 2018, the fair value of assets and liabilities available for counterparty netting was $162 million and $233 million, respectively. All derivatives are categorized within Level 2 of the fair value hierarchy.