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Derivative Financial Instruments and Hedging Activities (Tables)
 9 Months Ended
Sep. 30, 2020
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 periods ended September 30 were as follows (in millions):
Third QuarterFirst Nine Months
2019202020192020
Fair value hedges
Interest rate contracts
Net interest settlements and accruals on hedging instruments$— $94 $(32)$190 
Fair value changes on hedging instruments203 (103)927 1,119 
Fair value changes on hedged debt (194)96 (910)(1,095)
Cross-currency interest rate swap contracts (a)
Net interest settlements and accruals on hedging instruments— (1)— (1)
Fair value changes on hedging instruments— (10)— (10)
Fair value changes on hedged debt— 6 — 6 
Derivatives not designated as hedging instruments
Interest rate contracts18 (4)(12)(90)
Foreign currency exchange contracts (b)154 (106)188 60 
Cross-currency interest rate swap contracts(257)210 (261)213 
Total$(76)$182 $(100)$392 
__________
(a)During the third quarter of 2020, we began designating cross-currency interest rate swap contracts. We enter into cross-currency interest rate swaps to hedge our exposure to interest rate risk and foreign currency risk associated with the issuance of foreign denominated long-term debt. We report the change in fair value of the hedged debt and hedging instrument related to the change in the benchmark interest rate in Interest expense. We report the change in fair value of the hedged debt and hedging instrument related to foreign currency in Other income / (loss), net.
(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 were as follows (in millions):
December 31, 2019September 30, 2020
NotionalFair Value of AssetsFair Value of LiabilitiesNotionalFair Value of AssetsFair Value of Liabilities
Fair value hedges
Interest rate contracts$26,577 $702 $19 $23,224 $1,417 $1 
Cross-currency interest rate swap contracts— — — 885— 11
Derivatives not designated as hedging instruments
Interest rate contracts68,914 275 191 71,071 675 510 
Foreign currency exchange contracts5,540 17 79 5,313 55 40 
Cross-currency interest rate swap contracts5,849 134 67 6,285 377 20 
Total derivative financial instruments, gross (a) (b) $106,880 $1,128 $356 $106,778 $2,524 $582 
__________
(a)At December 31, 2019 and September 30, 2020, we held collateral of $18 million and $11 million, respectively, and we posted collateral of $78 million and $103 million, respectively.
(b)At December 31, 2019 and September 30, 2020, the fair value of assets and liabilities available for counterparty netting was $169 million and $300 million, respectively. All derivatives are categorized within Level 2 of the fair value hierarchy.