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DEBT (Tables) | 9 Months Ended
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Sep. 30, 2025
Debt Disclosure [Abstract] |
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments | The carrying value of Company debt excluding Ford Credit and Ford Credit debt was as follows (in millions):
| December 31, 2024 |  | September 30, 2025
Company excluding Ford Credit |  |  |
Debt payable within one year |  |  |
Short-term | $ | 632 |  |  | $ | 1,056 |
Long-term debt payable within one year |  |  |
U.K. Export Finance Program | 784 |  |  | — |
Public unsecured debt securities | 176 |  |  | 348 |
Convertible notes (a) | — |  |  | 2,300 |
Other debt (including finance leases) (b) | 176 |  |  | 218 |
Unamortized (discount)/premium | (11) |  |  | (1) |
Unamortized issuance costs | (1) |  |  | (3) |
Total debt payable within one year | 1,756 |  |  | 3,918 |
Long-term debt payable after one year |  |  |
Public unsecured debt securities | 14,759 |  |  | 14,587 |
Convertible notes (a) | 2,300 |  |  | — |
U.K. Export Finance Program (c) | 940 |  |  | 2,352 |
Other debt (including finance leases) (b) | 1,160 |  |  | 1,211 |
Unamortized (discount)/premium | (109) |  |  | (150) |
Unamortized issuance costs | (152) |  |  | (143) |
Total long-term debt payable after one year | 18,898 |  |  | 17,857 |
Total Company excluding Ford Credit | $ | 20,654 |  |  | $ | 21,775 |
Fair value of Company debt excluding Ford Credit (d) | $ | 20,178 |  |  | $ | 21,535 |
Ford Credit |  |  |
Debt payable within one year |  |  |
Short-term | $ | 17,413 |  |  | $ | 17,540 |
Long-term payable within one year |  |  |
Unsecured debt | 12,871 |  |  | 14,169 |
Asset-backed debt | 23,050 |  |  | 22,085 |
Unamortized (discount)/premium | 2 |  |  | (1) |
Unamortized issuance costs | (18) |  |  | (20) |
Fair value adjustments (e) | (125) |  |  | (63) |
Total debt payable within one year | 53,193 |  |  | 53,710 |
Long-term debt payable after one year |  |  |
Unsecured debt | 49,607 |  |  | 53,565 |
Asset-backed debt | 36,224 |  |  | 33,302 |
Unamortized (discount)/premium | (20) |  |  | (20) |
Unamortized issuance costs | (217) |  |  | (218) |
Fair value adjustments (e) | (919) |  |  | (174) |
Total long-term debt payable after one year | 84,675 |  |  | 86,455 |
Total Ford Credit | $ | 137,868 |  |  | $ | 140,165 |
Fair value of Ford Credit debt (d) | $ | 140,046 |  |  | $ | 142,583 |
__________ (a)As of September 30, 2025, each $1,000 principal amount of the notes will be convertible into 74.5103 shares of our Common Stock, which is equivalent to a conversion price of approximately $13.42 per share. We recognized issuance cost amortization of $2 million during both the third quarter of 2024 and 2025 and $5 million during both the first nine months of 2024 and 2025. (b)At December 31, 2024 and September 30, 2025, long-term finance leases payable within one year were $94 million and $134 million, respectively, and long-term finance leases payable after one year were $711 million and $761 million, respectively. (c)Ford of Britain entered into a £1.0 billion 7-year term loan pursuant to the U.K. Export Finance Program in July 2025. (d)At December 31, 2024 and September 30, 2025, the fair value of debt includes $632 million and $1,056 million of Company excluding Ford Credit short-term debt, respectively, and $16.2 billion and $16.2 billion of Ford Credit short-term debt, respectively, carried at cost, which approximates fair value. All other debt is categorized within Level 2 of the fair value hierarchy. (e)These adjustments are related to hedging activity and include discontinued hedging relationship adjustments of $(450) million and $(336) million at December 31, 2024 and September 30, 2025, respectively. The carrying value of hedged debt was $41.1 billion and $42.8 billion at December 31, 2024 and September 30, 2025, respectively.

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- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + Details
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