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FORD CREDIT FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Tables)

9 Months Ended

Sep. 30, 2025

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

Ford Credit finance receivables, net were as follows (in millions):

			December 31, 2024						September 30, 2025
Consumer
Retail installment contracts, gross			$	79,459					$	78,884
Finance leases, gross			8,357						9,287
Retail financing, gross			87,816						88,171
Unearned interest supplements			(4,598)						(4,333)
Consumer finance receivables			83,218						83,838
Non-Consumer
Dealer financing			29,282						25,420
Non-Consumer finance receivables			29,282						25,420
Total recorded investment			$	112,500					$	109,258
Recorded investment in finance receivables			$	112,500					$	109,258
Allowance for credit losses			(864)						(897)
Total finance receivables, net			$	111,636					$	108,361
Current portion			$	51,850					$	48,214
Non-current portion			59,786						60,147
Total finance receivables, net			$	111,636					$	108,361
Net finance receivables subject to fair value (a)			$	103,755					$	99,610
Fair value (b)			103,231						100,501

__________

(a)Net finance receivables subject to fair value exclude finance leases.

(b)The fair value of finance receivables is categorized within Level 3 of the fair value hierarchy.

Schedule of Credit Quality

The credit quality analysis of consumer receivables at December 31, 2024 and gross charge-offs during the year ended December 31, 2024 were as follows (in millions):

						Amortized Cost Basis by Origination Year
						Prior to 2020						2020						2021						2022						2023						2024						Total						Percent
Consumer
31 - 60 days past due						$	43					$	93					$	104					$	187					$	242					$	203					$	872					1.0		%
Greater than 60 days past due						15						27						35						57						82						59						275						0.4
Total past due						58						120						139						244						324						262						1,147						1.4
Current						788						3,162						5,458						12,275						24,153						36,235						82,071						98.6
Total						$	846					$	3,282					$	5,597					$	12,519					$	24,477					$	36,497					$	83,218					100.0		%
Gross charge-offs						$	46					$	58					$	71					$	152					$	191					$	50					$	568

The credit quality analysis of consumer receivables at September 30, 2025 and gross charge-offs during the first nine months of 2025 were as follows (in millions):

						Amortized Cost Basis by Origination Year
						Prior to 2021						2021						2022						2023						2024						2025						Total						Percent
Consumer
31 - 60 days past due						$	67					$	67					$	136					$	201					$	237					$	95					$	803					1.0		%
Greater than 60 days past due						23						25						48						67						77						41						281						0.3
Total past due						90						92						184						268						314						136						1,084						1.3
Current						1,629						2,880						7,632						17,410						29,372						23,831						82,754						98.7
Total						$	1,719					$	2,972					$	7,816					$	17,678					$	29,686					$	23,967					$	83,838					100.0		%
Gross charge-offs						$	44					$	43					$	96					$	142					$	148					$	17					$	490

Shedule of Credit Quality Analysis

The credit quality analysis of dealer financing receivables at December 31, 2024 and gross charge-offs during the year ended December 31, 2024 were as follows (in millions):

						Amortized Cost Basis by Origination Year																																										Wholesale Loans
						Dealer Loans
						Prior to 2020						2020						2021						2022						2023						2024						Total												Total						Percent
Group I						$	270					$	63					$	97					$	47					$	217					$	245					$	939					$	25,257					$	26,196					89.4		%
Group II						13						—						3						1						28						31						76						2,494						2,570						8.8
Group III						—						—						2						—						1						4						7						462						469						1.6
Group IV						—						—						—						—						—						1						1						46						47						0.2
Total (a)						$	283					$	63					$	102					$	48					$	246					$	281					$	1,023					$	28,259					$	29,282					100.0		%
Gross charge-offs						$	1					$	—					$	—					$	—					$	—					$	—					$	1					$	6					$	7

__________

(a)Total past due dealer financing receivables at December 31, 2024 were $8 million.

The credit quality analysis of dealer financing receivables at September 30, 2025 and gross charge-offs during the first nine months of 2025 were as follows (in millions):

			Amortized Cost Basis by Origination Year																																										Wholesale Loans
			Dealer Loans
			Prior to 2021						2021						2022						2023						2024						2025						Total												Total						Percent
Group I			$	295					$	70					$	33					$	171					$	82					$	169					$	820					$	20,352					$	21,172					83.3		%
Group II			26						8						3						34						47						34						152						3,519						3,671						14.4
Group III			—						—						—						1						1						5						7						526						533						2.1
Group IV			—						—						—						—						1						5						6						38						44						0.2
Total (a)			$	321					$	78					$	36					$	206					$	131					$	213					$	985					$	24,435					$	25,420					100.0		%
Gross charge-offs			$	—					$	—					$	—					$	3					$	—					$	—					$	3					$	10					$	13

__________

(a)Total past due dealer financing receivables at September 30, 2025 were $6 million.

Schedule of Allowance for Credit Losses

An analysis of the allowance for credit losses related to finance receivables for the periods ended September 30 was as follows (in millions):

			Third Quarter 2024																		First Nine Months 2024
			Consumer						Non-Consumer						Total						Consumer						Non-Consumer						Total
Allowance for credit losses
Beginning balance			$	876					$	4					$	880					$	879					$	3					$	882
Charge-offs			(155)						—						(155)						(408)						(7)						(415)
Recoveries			41						—						41						122						3						125
Provision for credit losses			99						—						99						277						5						282
Other (a)			(3)						—						(3)						(12)						—						(12)
Ending balance			$	858					$	4					$	862					$	858					$	4					$	862

			Third Quarter 2025																		First Nine Months 2025
			Consumer						Non-Consumer						Total						Consumer						Non-Consumer						Total
Allowance for credit losses
Beginning balance			$	885					$	5					$	890					$	860					$	4					$	864
Charge-offs			(177)						1						(176)						(490)						(13)						(503)
Recoveries			48						—						48						133						—						133
Provision for credit losses			134						1						135						374						15						389
Other (a)			—						—						—						13						1						14
Ending balance			$	890					$	7					$	897					$	890					$	7					$	897

__________

(a)    Primarily represents amounts related to foreign currency translation adjustments.

X

- Definition

Tabular disclosure of allowance for credit loss on financing receivable.

+ References

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-Section 50
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Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

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-Topic 326
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-Section 50
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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

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