v3.25.0.1
Retirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Defined Benefit Plan, Assumptions [Table Text Block]
The assumptions used to determine benefit obligation and net periodic benefit cost/(income) were as follows:
 20232024
 Pension BenefitsOPEBPension BenefitsOPEB
 U.S. PlansNon-U.S. PlansWorldwideU.S. PlansNon-U.S. PlansWorldwide
Weighted Average Assumptions at December 31
      
Discount rate5.17 %3.98 %5.10 %5.65 %4.51 %5.46 %
Average rate of increase in compensation4.05 3.54 3.98 3.80 3.52 3.80 
Weighted Average Assumptions Used to Determine Net Benefit Cost for the Year Ended December 31
  
Discount rate - Service cost5.60 %4.29 %5.65 %5.25 %3.92 %5.28 %
Effective interest rate on benefit obligation5.39 4.45 5.36 5.02 4.01 5.02 
Expected long-term rate of return on assets6.25 4.13 — 5.93 4.53 — 
Average rate of increase in compensation3.70 3.42 3.65 4.05 3.54 3.98 
Schedule of defined benefit plans expense [Table Text Block]
The pre-tax net periodic benefit cost/(income) for our defined benefit pension and OPEB plans for the years ended December 31 was as follows (in millions):
 202220232024
 Pension BenefitsOPEBPension BenefitsOPEBPension BenefitsOPEB
 U.S. PlansNon-U.S. PlansWorldwideU.S. PlansNon-U.S. PlansWorldwideU.S. PlansNon-U.S. PlansWorldwide
Service cost$500 $416 $42 $292 $245 $21 $288 $248 $24 
Interest cost1,054 504 146 1,641 965 231 1,581 938 226 
Expected return on assets(2,569)(1,006)— (1,897)(890)— (1,817)(1,019)— 
Amortization of prior service costs/(credits)
2 22 (3)— 22 3 92 25 10 
Net remeasurement (gain)/loss1,720 (436)(1,314)841 932 286 444 (1,019)(112)
Separation costs/other46 63 — 20 261 1 22 111 — 
Settlements and curtailments
438 (2)(1)69 9 — 129 (22)— 
Net periodic benefit cost/(income)$1,191 $(439)$(1,130)$966 $1,544 $542 $739 $(738)$148 
Schedule Of Defined Benefit Plan Obligations [Table Text Block]
The year-end status of these plans was as follows (in millions):
 20232024
 Pension BenefitsOPEBPension BenefitsOPEB
 U.S. PlansNon-U.S. PlansWorldwideU.S. PlansNon-U.S. PlansWorldwide
Change in Benefit Obligation     
Benefit obligation at January 1$32,867 $21,605 $4,459 $32,676 $24,004 $4,696 
Service cost292 245 21 288 248 24 
Interest cost1,641 965 231 1,581 938 226 
Amendments (a)581 46 32 — — — 
Separation costs/other(18)255 — (19)103 — 
Curtailments— 6 — 87 (22)— 
Settlements (b)(1,479)(21)— (8)(6)— 
Plan participant contributions16 11 — 15 9 — 
Benefits paid(2,417)(1,257)(359)(2,706)(1,416)(324)
Foreign exchange translation— 960 26 — (989)(95)
Actuarial (gain)/loss1,193 1,189 286 (1,359)(1,624)(112)
Benefit obligation at December 3132,676 24,004 4,696 30,555 21,245 4,415 
Change in Plan Assets   
Fair value of plan assets at January 132,922 21,344 — 31,423 22,958 — 
Actual return on plan assets2,180 1,145 — 13 414 — 
Company contributions238 756 — 808 685 — 
Plan participant contributions16 11 — 15 9 — 
Benefits paid(2,417)(1,257)— (2,706)(1,416)— 
Settlements (b)(1,479)(21)— (8)(6)— 
Foreign exchange translation— 990 — — (880)— 
Other(37)(10)— (43)(13)— 
Fair value of plan assets at December 3131,423 22,958 — 29,502 21,751 — 
Funded status at December 31$(1,253)$(1,046)$(4,696)$(1,053)$506 $(4,415)
Amounts Recognized on the Balance Sheets      
Prepaid assets$1,229 $3,060 $— $983 $3,155 $— 
Other liabilities(2,482)(4,106)(4,696)(2,036)(2,649)(4,415)
Total$(1,253)$(1,046)$(4,696)$(1,053)$506 $(4,415)
Amounts Recognized in Accumulated Other Comprehensive Loss (pre-tax)
   
Unamortized prior service costs/(credits)$581 $161 $55 $449 $132 $42 
Pension Plans in which Accumulated Benefit Obligation Exceeds Plan Assets at December 31
    
Accumulated benefit obligation$14,045 $9,135  $1,641 $2,793  
Fair value of plan assets12,154 5,587  85 500  
Accumulated Benefit Obligation at December 31$32,086 $22,661  $30,070 $20,209  
Pension Plans in which Projected Benefit Obligation Exceeds Plan Assets at December 31
Projected benefit obligation$14,636 $9,991 $13,696 $8,813 
Fair value of plan assets12,154 5,885 11,660 6,164 
Projected Benefit Obligation at December 31$32,676 $24,004 $30,555 $21,245 
__________
(a)    Reflects benefit enhancements included in the collective bargaining agreements with the UAW and Unifor ratified in 2023.
(b)    For U.S. plans, 2023 primarily reflects salaried lump sum retirement payments.
Schedule of Expected Benefit Payments [Table Text Block]
The expected future benefit payments at December 31, 2024 were as follows (in millions):
 Benefit Payments
 PensionOPEB
 U.S. PlansNon-U.S.
Plans		Worldwide
2025$2,685 $1,365 $345 
20262,650 1,275 340 
20272,605 1,290 335 
20282,575 1,295 335 
20292,575 1,310 330 
2030-203412,180 6,575 1,590 
Schedule of Allocation of Plan Assets [Table Text Block]
The fair value of our defined benefit pension plan assets (including dividends and interest receivables of $239 million and $58 million for U.S. and non-U.S. plans, respectively) by asset category at December 31 was as follows (in millions):
2023
U.S. PlansNon-U.S. Plans
 Level 1Level 2Level 3Assets measured at NAV (a)TotalLevel 1Level 2Level 3Assets measured at NAV (a)Total
Asset Category    
Equity    
U.S. companies
$855 $1 $2 $— $858 $1,968 $37 $— $— $2,005 
International companies
493 29 6 — 528 1,293 20 — — 1,313 
Total equity
1,348 30 8 — 1,386 3,261 57 — — 3,318 
Fixed Income
U.S. government and agencies
7,236 1,493 — — 8,729 38 28 — — 66 
Non-U.S. government
2 482 2 — 486 — 12,843 184 — 13,027 
Corporate bonds
— 16,470 11 — 16,481 — 1,890 66 — 1,956 
Mortgage/other asset-backed
— 444 — — 444 — 289 11 — 300 
Commingled funds
— 65 — — 65 23 191 — — 214 
Derivative financial instruments, net
(3)161 — — 158 — 36 36 — 72 
Total fixed income
7,235 19,115 13 — 26,363 61 15,277 297 — 15,635 
Alternatives
Hedge funds
— — — 3,603 3,603 — — — 906 906 
Private equity
— — — 1,093 1,093 — — — 477 477 
Real estate
— — — 1,406 1,406 — — — 381 381 
Total alternatives
— — — 6,102 6,102 — — — 1,764 1,764 
Cash, cash equivalents, and repurchase agreements (b)
(1,779)— — — (1,779)(1,364)— — — (1,364)
Other (c)
(649)— — — (649)(236)— 3,841 — 3,605 
Total assets at fair value
$6,155 $19,145 $21 $6,102 $31,423 $1,722 $15,334 $4,138 $1,764 $22,958 
__________
(a)Certain assets that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.
(b)Primarily short-term investment funds to provide liquidity to plan investment managers and cash held to pay benefits, offset by repurchase agreements valued at $(2.7) billion in U.S. plans and $(1.8) billion in non-U.S. plans.
(c)For U.S. plans, amounts related to net pending security (purchases)/sales and net pending foreign currency purchases/(sales). For non-U.S plans, $3.0 billion of insurance contracts, primarily the Ford-Werke plan, and amounts related to net pending security (purchases)/sales and net pending foreign currency purchases/(sales).
NOTE 16.  RETIREMENT BENEFITS (Continued)

The fair value of our defined benefit pension plan assets (including dividends and interest receivables of $236 million and $65 million for U.S. and non-U.S. plans, respectively) by asset category at December 31 was as follows (in millions):
2024
U.S. PlansNon-U.S. Plans
 Level 1Level 2Level 3Assets measured at NAV (a)TotalLevel 1Level 2Level 3Assets measured at NAV (a)Total
Asset Category    
Equity    
U.S. companies
$1,035 $2 $2 $— $1,039 $1,719 $25 $— $— $1,744 
International companies
490 38 6 — 534 1,080 47 1 — 1,128 
Total equity
1,525 40 8 — 1,573 2,799 72 1 — 2,872 
Fixed Income
     
U.S. government and agencies
7,106 1,079 — — 8,185 4 26 — — 30 
Non-U.S. government
1 607 — — 608 1,360 10,698 6 — 12,064 
Corporate bonds
— 15,079 21 — 15,100 — 1,667 56 — 1,723 
Mortgage/other asset-backed
— 433 — — 433 — 291 13 — 304 
Commingled funds
— — — — — 30 186 — — 216 
Derivative financial instruments, net
(6)(57)— — (63)(1)(20)51 — 30 
Total fixed income
7,101 17,141 21 — 24,263 1,393 12,848 126 — 14,367 
Alternatives
     
Hedge funds
— — — 3,732 3,732 — — — 779 779 
Private equity
— — — 845 845 — — — 370 370 
Real estate
— — — 1,298 1,298 — — — 370 370 
Total alternatives
— — — 5,875 5,875 — — — 1,519 1,519 
Cash, cash equivalents, and repurchase agreements (b)
(1,656)— — — (1,656)(197)— — — (197)
Other (c)
(553)— — — (553)(248)— 3,438 — 3,190 
Total assets at fair value
$6,417 $17,181 $29 $5,875 $29,502 $3,747 $12,920 $3,565 $1,519 $21,751 
__________
(a)Certain assets that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.
(b)Primarily short-term investment funds to provide liquidity to plan investment managers and cash held to pay benefits, offset by repurchase agreements valued at $(2.6) billion in U.S. plans and $(0.7) billion in non-U.S. plans.
(c)For U.S. plans, amounts related to net pending security (purchases)/sales and net pending foreign currency purchases/(sales). For non-U.S plans, $2.7 billion of insurance contracts, primarily the Ford-Werke plan, and amounts related to net pending security (purchases)/sales and net pending foreign currency purchases/(sales).
Schedule of Changes in Fair Value of Plan Assets [Table Text Block]
The following table summarizes the changes in Level 3 defined benefit pension plan assets measured at fair value on a recurring basis for the years ended December 31 (in millions):
2023
 Return on plan assets  
Fair
Value
at
January 1		Attributable
to Assets
Held
at
December 31		Attributable
to
Assets
Sold		Net Purchases/
(Settlements)		Transfers Into/(Out of) Level 3Fair
Value
at
December 31
U.S. Plans$9 $(6)$— $9 $9 $21 
Non-U.S. Plans (a)3,809 44 (8)410 (117)4,138 
2024
 Return on plan assets  
Fair
Value
at
January 1		Attributable
to Assets
Held
at
December 31		Attributable
to
Assets
Sold		Net Purchases/
(Settlements)		Transfers Into/(Out of) Level 3Fair
Value
at
December 31
U.S. Plans$21 $— $3 $4 $1 $29 
Non-U.S. Plans (a)4,138 (387)(16)(2)(168)3,565 
__________
(a)Includes insurance contracts, primarily the Ford-Werke plan, valued at $3.0 billion and $2.7 billion at year-end 2023 and 2024, respectively.