v3.24.3
Cash, Cash Equivalents, and Marketable Securities (Notes)
 9 Months Ended
Sep. 30, 2024
Cash, Cash Equivalents, and Marketable Securities [Abstract]  
Cash, Cash Equivalents, and Marketable Securities [Text Block] CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES
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, 2023
 Fair Value LevelCompany excluding Ford CreditFord CreditConsolidated
Cash and cash equivalents  
U.S. government1$2,320 $912 $3,232 
U.S. government agencies22,075 625 2,700 
Non-U.S. government and agencies2699 276 975 
Corporate debt21,617 101 1,718 
Total marketable securities classified as cash equivalents
6,711 1,914 8,625 
Cash, time deposits, and money market funds7,493 8,744 16,237 
Total cash and cash equivalents$14,204 $10,658 $24,862 
Marketable securities
U.S. government1$4,467 $207 $4,674 
U.S. government agencies21,774 49 1,823 
Non-U.S. government and agencies22,096 109 2,205 
Corporate debt25,807 268 6,075 
Equities123 — 23 
Other marketable securities2353 156 509 
Total marketable securities$14,520 $789 $15,309 
Restricted cash$111 $137 $248 
Cash, cash equivalents, and restricted cash - held for sale$— $— $— 
September 30, 2024
Fair Value LevelCompany excluding Ford CreditFord CreditConsolidated
Cash and cash equivalents  
U.S. government1$1,498 $— $1,498 
U.S. government agencies22,605 — 2,605 
Non-U.S. government and agencies21,290 697 1,987 
Corporate debt2643 50 693 
Total marketable securities classified as cash equivalents
6,036 747 6,783 
Cash, time deposits, and money market funds8,942 7,724 16,666 
Total cash and cash equivalents$14,978 $8,471 $23,449 
Marketable securities
U.S. government1$3,050 $247 $3,297 
U.S. government agencies21,736 — 1,736 
Non-U.S. government and agencies21,943 77 2,020 
Corporate debt25,489 262 5,751 
Equities116 — 16 
Other marketable securities2495 141 636 
Total marketable securities$12,729 $727 $13,456 
Restricted cash$126 $108 $234 
Cash, cash equivalents, and restricted cash - held for sale (Note 15)
$43 $— $43 
        
NOTE 7. CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES (Continued)

The cash equivalents and marketable securities accounted for as available-for-sale (“AFS”) securities were as follows (in millions):
December 31, 2023
Fair Value of Securities with
Contractual Maturities
 Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueWithin 1 YearAfter 1 Year through
5 Years		After 5 Years
Company excluding Ford Credit  
U.S. government$4,458 $6 $(66)$4,398 $2,172 $2,216 $10 
U.S. government agencies2,053 4 (62)1,995 490 1,487 18 
Non-U.S. government and agencies1,948 1 (75)1,874 587 1,275 12 
Corporate debt7,433 27 (67)7,393 2,830 4,558 5 
Other marketable securities322 2 (4)320 — 247 73 
Total$16,214 $40 $(274)$15,980 $6,079 $9,783 $118 
 
September 30, 2024
Fair Value of Securities with
Contractual Maturities
Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueWithin 1 YearAfter 1 Year through
5 Years		After 5 Years
Company excluding Ford Credit
U.S. government$2,969 $19 $(14)$2,974 $834 $2,140 $— 
U.S. government agencies1,813 10 (33)1,790 641 1,129 20 
Non-U.S. government and agencies1,764 7 (35)1,736 492 1,230 14 
Corporate debt6,034 84 (14)6,104 1,228 4,851 25 
Other marketable securities463 6 (1)468 — 378 90 
Total
$13,043 $126 $(97)$13,072 $3,195 $9,728 $149 

Sales proceeds and gross realized gains/losses from the sale of AFS securities for the periods ended September 30 were as follows (in millions):
Third QuarterFirst Nine Months
2023202420232024
Company excluding Ford Credit
Sales proceeds$506 $3,300 $2,384 $9,734 
Gross realized gains— 10 1 15 
Gross realized losses6 10 27 26 
NOTE 7. CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES (Continued)

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, 2023
Less than 1 Year1 Year or GreaterTotal
 Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
Company excluding Ford Credit  
U.S. government$619 $(2)$2,735 $(64)$3,354 $(66)
U.S. government agencies283 (1)1,068 (61)1,351 (62)
Non-U.S. government and agencies67 — 1,654 (75)1,721 (75)
Corporate debt2,608 (2)2,192 (65)4,800 (67)
Other marketable securities26 — 122 (4)148 (4)
Total
$3,603 $(5)$7,771 $(269)$11,374 $(274)
 
September 30, 2024
Less than 1 Year1 Year or GreaterTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
Company excluding Ford Credit
U.S. government$329 $— $986 $(14)$1,315 $(14)
U.S. government agencies13 — 927 (33)940 (33)
Non-U.S. government and agencies81 — 1,099 (35)1,180 (35)
Corporate debt689 — 687 (14)1,376 (14)
Other marketable securities17 — 81 (1)98 (1)
Total
$1,129 $— $3,780 $(97)$4,909 $(97)

We determine credit losses on AFS debt securities using the specific identification method. During the first nine months of 2024, we did not recognize any credit loss. The unrealized losses on securities are due to changes in interest rates and market liquidity.

Cash, Cash Equivalents, and Restricted Cash

Cash, cash equivalents, and restricted cash, as reported in the consolidated statements of cash flows, were as follows (in millions):
December 31,
2023		September 30,
2024
Cash and cash equivalents$24,862 $23,449 
Restricted cash (a)248 234 
Cash, cash equivalents, and restricted cash - held for sale (Note 15)
— 43 
Total cash, cash equivalents, and restricted cash$25,110 $23,726 
__________
(a)Included in Other assets in the non-current assets section of our consolidated balance sheets.