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SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Information

Costs are reflected in the associated segment externally reporting the vehicle sale, as detailed in the table below:

Income Statement Elements			Examples			Segment Reporting
Costs specific to a particular vehicle			Bill of material cost and initial warranty accrual			Reported in the segment externally selling the vehicle
Costs identifiable by product line			Manufacturing and logistics costs, depreciation & amortization expense, direct research & development costs			Typically identifiable to the product line or production location. Reported in the segment externally selling the vehicle, based on relative volume
Shared costs			Selling, general & administrative expense, and indirect/cross product line research & development costs			Typically shared across all segments, generally based on relative volume. Certain costs clearly linked to a segment are reported in the specific segment
Intersegment markup costs for intersegment vehicle transactions			Contract manufacturing and distribution fees			Reported in the segment externally selling the vehicle, for each applicable vehicle transaction

The table below shows the segment reporting for our most significant unconsolidated entities:

Ford Blue			Ford Model e			Ford Pro
∘ Changan Ford Automobile Corporation, Ltd. (“CAF”)			∘ BlueOval SK, LLC			∘ Ford Otomotiv Sanayi Anonim Sirketi (“Ford Otosan”)
∘ Jiangling Motors Corporation, Ltd. (“JMC”)
∘ AutoAlliance (Thailand) Co., Ltd. (“AAT”)

Key financial information for the periods ended or at September 30 was as follows (in millions):

			Ford Blue						Ford Model e						Ford Pro						Ford Credit						Unallocated Amounts and Eliminations (a)						Total
Third Quarter 2024
External revenues			$	26,238					$	1,175					$	15,655					$	3,127					$	1					$	46,196
Intersegment revenues (b)			10,577						74						—						—						(10,651)						—
Total revenues			$	36,815					$	1,249					$	15,655					$	3,127					$	(10,650)					$	46,196
Other segment items (c)			35,191						2,480						13,842						2,583
Segment EBIT/EBT			$	1,624					$	(1,231)					$	1,813					$	544											$	2,750
Reconciliation of Segment EBIT/EBT
Unallocated amounts:
Corporate Other																																	(200)
Interest on debt (excludes $1,878 of Ford Credit interest on debt)																																	(272)
Special items (d)																																	(1,409)
Income/(Loss) before income taxes																																	$	869
Other Segment Disclosures
Depreciation and tooling amortization			$	743					$	129					$	330					$	611					$	28					$	1,841
Investment-related interest income			47						1						14						126						179						367
Equity in net income/(loss) of affiliated companies			69						(13)						82						10						(1)						147
Cash outflow for capital spending (e)			1,125						777						10						22						58						1,992
Total assets			60,521						17,584						3,833						156,416						48,693						287,047
Third Quarter 2025
External revenues			$	28,018					$	1,783					$	17,378					$	3,349					$	6					$	50,534
Intersegment revenues (b)			11,368						121						—						—						(11,489)						—
Total revenues			$	39,386					$	1,904					$	17,378					$	3,349					$	(11,483)					$	50,534
Other segment items (c)			37,846						3,314						15,393						2,718
Segment EBIT/EBT			$	1,540					$	(1,410)					$	1,985					$	631											$	2,746
Reconciliation of Segment EBIT/EBT
Unallocated amounts:
Corporate Other																																	(160)
Interest on debt (excludes $1,802 of Ford Credit interest on debt)																																	(321)
Special items (f)																																	(447)
Income/(Loss) before income taxes																																	$	1,818
Other Segment Disclosures
Depreciation and tooling amortization			$	811					$	151					$	347					$	642					$	24					$	1,975
Investment-related interest income			49						—						16						92						222						379
Equity in net income/(loss) of affiliated companies			48						(54)						109						13						(95)						21
Cash outflow for capital spending (e)			1,237						821						12						26						29						2,125
Total assets			63,878						17,437						4,499						160,559						54,617						300,990

NOTE 19. SEGMENT INFORMATION (Continued)

Key financial information for the periods ended or at September 30 was as follows (in millions):

			Ford Blue						Ford Model e						Ford Pro						Ford Credit						Unallocated Amounts and Eliminations (a)						Total
First Nine Months 2024
External revenues			$	74,662					$	2,441					$	50,662					$	9,011					$	5					$	136,781
Intersegment revenues (b)			33,624						207						—						—						(33,831)						—
Total revenues			$	108,286					$	2,648					$	50,662					$	9,011					$	(33,826)					$	136,781
Other segment items (c)			104,594						6,356						43,281						7,798
Segment EBIT/EBT			$	3,692					$	(3,708)					$	7,381					$	1,213											$	8,578
Reconciliation of Segment EBIT/EBT
Unallocated amounts:
Corporate Other																																	(508)
Interest on debt (excludes $5,623 of Ford Credit interest on debt)																																	(820)
Special items (g)																																	(2,331)
Income/(Loss) before income taxes																																	$	4,919
Other Segment Disclosures
Depreciation and tooling amortization			$	2,222					$	424					$	1,046					$	1,856					$	88					$	5,636
Investment-related interest income			124						2						38						393						587						1,144
Equity in net income/(loss) of affiliated companies			225						(52)						310						28						—						511
Cash outflow for capital spending (e)			3,225						2,725						27						65						144						6,186
First Nine Months 2025
External revenues			$	74,799					$	5,382					$	51,356					$	9,827					$	13					$	141,377
Intersegment revenues (b)			35,500						429						—						—						(35,929)						—
Total revenues			$	110,299					$	5,811					$	51,356					$	9,827					$	(35,916)					$	141,377
Other segment items (c)			108,002						9,399						45,744						7,971
Segment EBIT/EBT			$	2,297					$	(3,588)					$	5,612					$	1,856											$	6,177
Reconciliation of Segment EBIT/EBT
Unallocated amounts:
Corporate Other																																	(432)
Interest on debt (excludes $5,351 of Ford Credit interest on debt)																																	(906)
Special items (h)																																	(1,859)
Income/(Loss) before income taxes																																	$	2,980
Other Segment Disclosures
Depreciation and tooling amortization			$	2,304					$	443					$	1,044					$	1,875					$	56					$	5,722
Investment-related interest income			147						2						46						274						629						1,098
Equity in net income/(loss) of affiliated companies			162						(91)						245						36						(487)						(135)
Cash outflow for capital spending (e)			3,287						2,534						35						88						87						6,031

__________

(a)Unallocated amounts include Corporate Other (see above description of corporate expenses and corporate assets) and Special Items. Eliminations include intersegment transactions occurring in the ordinary course of business.

(b)Intersegment revenues only reflect finished vehicle transactions between Ford Blue, Ford Model e, and Ford Pro where there is an intersegment markup and are recognized at the time of the intersegment transaction.

(c)Other segment items for the Ford Blue, Ford Model e, and Ford Pro segments primarily consists of: material costs (including commodities and components and purchased vehicles from partners), manufacturing costs (including hourly and salaried wages and fringe, and plant overhead such as utilities and taxes), warranty coverages and field service action costs (including estimated costs to repair, replace, or adjust parts on a vehicle that are defective in factory supplied materials or workmanship), freight and duty costs (including related to the receiving and shipping of components and vehicles), vehicle and software engineering and connectivity costs (including wages and fringe for personnel, prototype materials, testing, and outside services), spending-related costs (including depreciation and amortization of manufacturing and engineering assets, asset retirements, and operating leases), advertising and sales promotions costs (including costs for advertising, marketing programs, brand promotions, customer mailings and promotional events, and auto shows), and administrative, IT, and selling costs (primarily including wages and fringe for salaried personnel and purchased services). Other segment items for Ford Credit primarily consists of interest expense and depreciation.

(d)Primarily reflects a write-down of certain product-specific assets of $391 million and other expenses of $588 million related to the cancellation of a previously planned all-electric three-row SUV program, all of which was recorded in Cost of sales. The remaining items consist of pension curtailment costs and remeasurement losses (primarily related to hourly buyouts in North America) and continued restructuring actions in Europe.

NOTE 19. SEGMENT INFORMATION (Continued)

(e)Ford Blue recognized $206 million and $128 million of spending attributable to electric vehicles at shared manufacturing plants during the third quarter of 2024 and 2025, respectively, and $675 million and $486 million in the first nine months of 2024 and 2025, respectively. Total electric vehicle spending, including Ford Blue and Ford Model e, was $983 million and $949 million during the third quarter of 2024 and 2025, respectively, and $3,401 million and $3,020 million in the first nine months of 2024 and 2025, respectively.

(f)Primarily reflects restructuring actions in Europe and our share of asset impairments and other expenses at an equity method investment.

(g)Includes a write-down of certain product-specific assets of $391 million and other expenses of $588 million related to the cancellation of a previously planned all-electric three-row SUV program, all of which was recorded in Cost of sales. The amount also reflects restructuring actions in Europe, buyouts for hourly employees in North America, the extended duration of the Oakville Assembly Plant changeover, and pension curtailment and separation costs in North America and Europe.

(h)Primarily reflects a field service action for fuel injectors, our share of equity method investment asset impairments and write downs and other expenses, charges related to the cancellation of a previously planned all-electric three-row SUV program and resulting actions, and restructuring actions in Europe.

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

No definition available.

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