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Revenue (Notes)
 3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
The following tables disaggregate our revenue by major source for the periods ended March 31 (in millions):
First Quarter 2023
Company excluding Ford CreditFord CreditConsolidated
Vehicles, parts, and accessories$37,927 $— $37,927 
Used vehicles469 — 469 
Services and other revenue (a)645 17 662 
Revenues from sales and services
39,041 17 39,058 
Leasing income44 1,049 1,093 
Financing income— 1,301 1,301 
Insurance income— 22 22 
Total revenues$39,085 $2,389 $41,474 
First Quarter 2024
Company excluding
Ford Credit		Ford CreditConsolidated
Vehicles, parts, and accessories$38,645 $— $38,645 
Used vehicles510 — 510 
Services and other revenue (a)688 20 708 
Revenues from sales and services
39,843 20 39,863 
Leasing income47 1,017 1,064 
Financing income— 1,819 1,819 
Insurance income— 31 31 
Total revenues$39,890 $2,887 $42,777 
__________
(a)Includes extended service contract revenue.

The amount of consideration we receive and revenue we recognize on our vehicles, parts, and accessories varies with changes in return rights, marketing incentives we offer to our customers and their customers, and other pricing adjustments. Estimates of marketing incentives and other pricing adjustments are based on our expectations of retail and fleet sales volumes, mix of products to be sold, competitor actions, and incentive programs to be offered. Customer acceptance of products and programs, as well as other market conditions, will impact these estimates. As a result of changes in our estimate of variable consideration (e.g., marketing incentives), we recorded a decrease related to revenue recognized in prior periods of $178 million and $707 million in the first quarter of 2023 and 2024, respectively.

We had a balance of $4.8 billion and $4.9 billion of unearned revenue associated primarily with outstanding extended service contracts reported in Other liabilities and deferred revenue at December 31, 2023 and March 31, 2024, respectively. We expect to recognize approximately $1.2 billion of the unearned amount in the remainder of 2024, $1.3 billion in 2025, and $2.4 billion thereafter. We recognized $380 million and $431 million of unearned amounts from prior years as revenue during the first quarter of 2023 and 2024, respectively.

Amounts paid to dealers to obtain extended service contracts are deferred and recorded as Other assets. We had a balance of $317 million and $321 million in deferred costs as of December 31, 2023 and March 31, 2024, respectively. We recognized $26 million of amortization during both the first quarter of 2023 and 2024.