v3.22.4
Cash, Cash Equivalents, and Marketable Securities (Tables)
 12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring Basis [Table Text Block]
The fair values of cash, cash equivalents, and marketable securities measured at fair value on a recurring basis were as follows (in millions):
December 31, 2021
 Fair Value LevelCompany excluding Ford CreditFord CreditConsolidated
Cash and cash equivalents  
U.S. government1$2,877 $711 $3,588 
U.S. government agencies2355 240 595 
Non-U.S. government and agencies255 152 207 
Corporate debt2105 940 1,045 
Total marketable securities classified as cash equivalents
3,392 2,043 5,435 
Cash, time deposits, and money market funds6,185 8,920 15,105 
Total cash and cash equivalents$9,577 $10,963 $20,540 
 
Marketable securities
U.S. government1$4,018 $864 $4,882 
U.S. government agencies22,270 75 2,345 
Non-U.S. government and agencies23,373 697 4,070 
Corporate debt26,299 304 6,603 
Equities (a)110,673 — 10,673 
Other marketable securities2247 233 480 
Total marketable securities$26,880 $2,173 $29,053 
Restricted cash$69 $128 $197 
December 31, 2022
Fair Value
 Level		Company excluding Ford CreditFord CreditConsolidated
Cash and cash equivalents
U.S. government1$3,295 $1,045 $4,340 
U.S. government agencies22,245 150 2,395 
Non-U.S. government and agencies21,048 199 1,247 
Other cash equivalents210 — 10 
Corporate debt2593 792 1,385 
Total marketable securities classified as cash equivalents
7,191 2,186 9,377 
Cash, time deposits, and money market funds7,550 8,207 15,757 
Total cash and cash equivalents$14,741 $10,393 $25,134 
 
Marketable securities
U.S. government1$4,947 $187 $5,134 
U.S. government agencies22,641 221 2,862 
Non-U.S. government and agencies22,625 658 3,283 
Corporate debt26,755 266 7,021 
Equities (a)1223 — 223 
Other marketable securities2252 161 413 
Total marketable securities$17,443 $1,493 $18,936 
Restricted cash$79 $127 $206 
__________
(a)    Includes $10.6 billion and $194 million of Rivian common shares valued at $103.69 and $18.43 per share as of December 31, 2021 and 2022, respectively. In 2022, we sold 91 million of our Rivian common shares for about $3 billion in total proceeds. Net unrealized gains/losses recognized during 2021 and 2022 on all equity securities held at December 31, 2021 and 2022 were an $8.3 billion gain and a $968 million loss, respectively.
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] The present fair values and gross unrealized losses for cash equivalents and marketable securities accounted for as AFS securities that were in an unrealized loss position, aggregated by investment category and the length of time that individual securities have been in a continuous loss position, were as follows (in millions):
December 31, 2021
Less than 1 Year1 Year or GreaterTotal
 Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
Company excluding Ford Credit  
U.S. government$2,598 $(14)$— $— $2,598 $(14)
U.S. government agencies1,809 (19)73 (2)1,882 (21)
Non-U.S. government and agencies1,614 (20)38 (1)1,652 (21)
Corporate debt3,637 (21)71 (2)3,708 (23)
Other marketable securities178 (1)15 — 193 (1)
Total
$9,836 $(75)$197 $(5)$10,033 $(80)
 
December 31, 2022
Less than 1 Year1 Year or GreaterTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
Company excluding Ford Credit
U.S. government$2,860 $(52)$1,570 $(93)$4,430 $(145)
U.S. government agencies707 (14)1,658 (105)2,365 (119)
Non-U.S. government and agencies751 (23)1,271 (109)2,022 (132)
Corporate debt4,571 (79)1,737 (118)6,308 (197)
Other marketable securities123 (4)108 (5)231 (9)
Total$9,012 $(172)$6,344 $(430)$15,356 $(602)
Schedule Cash, Cash Equivalents, and Restricted Cash [Table Text Block]
Cash, cash equivalents, and restricted cash as reported in the consolidated statements of cash flows were as follows (in millions):
December 31,
2021		December 31,
2022
Cash and cash equivalents$20,540 $25,134 
Restricted cash (a)197 206 
Total cash, cash equivalents, and restricted cash$20,737 $25,340 
__________
(a)Included in Other assets in the non-current assets section of our consolidated balance sheets.
Debt Securities, Available-for-sale
The cash equivalents and marketable securities accounted for as available-for-sale (“AFS”) securities were as follows (in millions):
December 31, 2021
Fair Value of Securities with
Contractual Maturities
 Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueWithin 1 YearAfter 1 Year through 5 YearsAfter 5 Years
Company excluding Ford Credit  
U.S. government$3,821 $12 $(14)$3,819 $1,360 $2,435 $24 
U.S. government agencies2,249 2 (21)2,230 316 1,802 112 
Non-U.S. government and agencies2,599 6 (21)2,584 854 1,708 22 
Corporate debt6,373 21 (23)6,371 2,645 3,726 — 
Other marketable securities228 1 (1)228 — 150 78 
Total
$15,270 $42 $(80)$15,232 $5,175 $9,821 $236 
December 31, 2022
Fair Value of Securities with
Contractual Maturities
Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueWithin 1 YearAfter 1 Year through 5 YearsAfter 5 Years
Company excluding Ford Credit
U.S. government$4,797 $1 $(145)$4,653 $1,008 $3,645 $— 
U.S. government agencies2,508 — (119)2,389 1,244 1,109 36 
Non-U.S. government and agencies2,248 — (132)2,116 294 1,810 12 
Corporate debt7,511 6 (197)7,320 3,117 4,195 8 
Other marketable securities
246 — (9)237 — 181 56 
Total
$17,310 $7 $(602)$16,715 $5,663 $10,940 $112 

Sales proceeds and gross realized gains/losses from the sale of AFS securities for the years ended December 31 were as follows (in millions):
202020212022
Company excluding Ford Credit
Sales proceeds$8,574 $5,943 $6,207 
Gross realized gains56 26 7 
Gross realized losses11 3 26