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SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
We report segment information consistent with the way our chief operating decision maker (“CODM”), our President and Chief Executive Officer, evaluates the operating results and performance of the Company. Accordingly, we analyze the results of our business through the following segments: Ford Blue, Ford Model e, Ford Pro, and Ford Credit.

Beginning January 1, 2025, the expenses and investments for emerging business initiatives in vehicle-adjacent market segments (previously the Ford Next segment) are reflected in the reportable segments that benefit from those expenses and investments or Corporate Other. Prior period amounts were adjusted retrospectively to reflect the change.

Below is a description of our reportable segments and other activities.

Ford Blue Segment

Ford Blue primarily includes the sale of Ford and Lincoln internal combustion engine (“ICE”) and hybrid (excluding extended range electric vehicles (“EREVs”)) vehicles, service parts, accessories, and digital services for retail customers, together with the associated costs of development, manufacture, and distribution of the vehicles, parts, accessories, and services. This segment focuses on developing Ford and Lincoln ICE and hybrid vehicles. Additionally, this segment provides hardware engineering and manufacturing capabilities to Ford Model e and manufactures vehicles on behalf of Ford Pro and, in certain cases, Ford Model e. Ford Blue also includes:
•All sales for markets not presently in scope for Ford Model e or Ford Pro (as further described below)
•In markets outside of the United States and Canada, sales to commercial, government, and rental customers of ICE and hybrid vehicles not considered core to Ford Pro
•Sales of EVs, including EREVs, by our unconsolidated affiliates in China
•All sales of vehicles manufactured and sold to other OEMs

Ford Model e Segment

Ford Model e primarily includes the sale of our EVs (including EREVs), service parts, accessories, and digital services for retail customers, together with the associated costs of development, manufacture, and distribution of the vehicles, parts, accessories, and services. This segment focuses on developing EV and digital vehicle technologies, as well as software development. Additionally, this segment provides software and connected vehicle technologies on behalf of the enterprise, and manufactures certain EVs, including for Ford Pro. Ford Model e operates in North America, Europe, and China. Ford Model e also includes EV and related sales not considered core to Ford Pro to commercial, government, and rental customers in Europe, China, and Mexico.

Ford Pro Segment

Ford Pro primarily includes the sale of Ford and Lincoln vehicles, service parts, accessories, and services for commercial, government, and rental customers. Included in this segment are sales of all core Ford Pro vehicles, such as Super Duty and the Transit range of vans in North America and Europe and all sales of Ranger in Europe. In the United States and Canada, Ford Pro also includes all vehicle sales to commercial, government, and rental customers. This segment focuses on selling ICE, hybrid, and electric vehicles, and providing digital and physical services to optimize and maintain fleets, including telematics and EV charging solutions. This segment reflects external sales of vehicles produced by Ford Blue and Ford Model e, and the costs (including intersegment markup) associated with acquiring vehicles for sale and providing services are reflected in this segment. Ford Pro operates in North America and Europe.

Ford Credit Segment

The Ford Credit segment is comprised of the Ford Credit business on a consolidated basis, which is primarily vehicle-related financing and leasing activities.
NOTE 25. SEGMENT INFORMATION (Continued)

Corporate Other

Corporate Other primarily includes corporate governance expenses, past service pension and OPEB income and expense, interest income (excluding Ford Credit interest income and interest earned on our extended service contract portfolio) and gains and losses from our cash, cash equivalents, and marketable securities, and foreign exchange derivatives gains and losses associated with intercompany lending. Corporate governance expenses are primarily administrative, delivering benefit on behalf of the global enterprise, that are not allocated to operating segments. These include expenses related to setting and directing global policy, providing oversight and stewardship, and promoting the Company’s interests. Corporate Other assets include: cash, cash equivalents, and marketable securities; tax related assets; defined benefit pension plan net assets; and other assets managed centrally.

Interest on Debt

Interest on Debt is presented as a separate reconciling item and consists of interest expense on Company debt excluding Ford Credit.

Special Items

Special items are presented as a separate reconciling item. They consist of (i) pension and OPEB remeasurement gains and losses, (ii) significant personnel expenses, supplier- and dealer-related costs, and facility-related charges stemming from our efforts to match production capacity and cost structure to market demand and changing model mix, and (iii) other items that we do not generally consider to be indicative of earnings from ongoing operating activities. Our management excludes these items from its review of the results of the operating segments for purposes of measuring segment profitability and allocating resources. We also report these special items separately to help investors track amounts related to these activities and to allow investors analyzing our results to identify certain infrequent significant items that they may wish to exclude when analyzing operating results.

CODM Evaluation of the Business

When we report segment earnings before interest and taxes (“Segment EBIT”) for each of the Ford Blue, Ford Model e, and Ford Pro segments, it consists of the earnings for the particular segment and does not include interest and taxes. Ford Credit segment earnings include interest and exclude taxes (“Segment EBT”). Each segment’s EBIT/EBT also excludes the results reported in Corporate Other and Special Items. For the Ford Blue, Ford Model e, and Ford Pro segments, our CODM reviews Segment EBIT and Segment EBIT margin, as well as market share, revenue, and wholesale volume to evaluate performance and allocate resources, predominately in the budgeting, planning, and forecasting processes. For Segment EBIT, our CODM reviews the year-over-year change in EBIT, sequential change in EBIT, and change in EBIT from internal forecasts/budgets. Revenue and certain of our costs, such as material costs, generally vary directly with changes in volume and mix of vehicles. As a result, our CODM reviews the EBIT impact driven by changes in volume and mix, the EBIT impact driven by changes in exchange, and the EBIT impact driven by changes in net pricing and cost categories at constant volume and mix and/or exchange. For the Ford Credit segment, our CODM reviews Segment EBT to evaluate performance and allocate resources. Expense information is provided to and reviewed by the CODM on a consolidated basis to evaluate cost efficiency and company level performance.
NOTE 25. SEGMENT INFORMATION (Continued)

Segment Revenue, Cost, and Asset Principles for Ford Blue, Ford Model e, and Ford Pro

External vehicle and digital services revenue is generally vehicle-specific and included in the segment responsible for the external vehicle sale. A majority of parts and accessories revenue and cost is attributed to customer sales channels or vehicle lines based on recent end customer sales and is included in the respective segment.

In the normal course of business, Ford Blue, Ford Model e, and Ford Pro transact between segments and cooperate to leverage synergies, including developing and manufacturing vehicles on behalf of another segment. When one segment produces a vehicle that is sold externally by another segment, an intersegment transaction occurs. The producing segment will report intersegment revenue to recoup the costs associated with the unit produced. This includes material cost, labor and overhead (including depreciation and amortization), inbound freight, and an intersegment markup. The intersegment markup amount is set to deliver a competitive return to the producing segment for its manufacturing and distribution service. Costs are reflected in the associated segment externally reporting the vehicle sale, as detailed in the table below:

Income Statement ElementsExamplesSegment Reporting
Costs specific to a particular vehicleBill of material cost and initial warranty accrualReported in the segment externally selling the vehicle
Costs identifiable by product lineManufacturing and logistics costs, depreciation & amortization expense, direct research & development costsTypically identifiable to the product line or production location. Reported in the segment externally selling the vehicle, based on relative volume
Shared costsSelling, general & administrative expense, and indirect/cross product line research & development costsTypically shared across all segments, generally based on relative volume. Certain costs clearly linked to a segment are reported in the specific segment
Intersegment markup for intersegment vehicle transactionsContract manufacturing and distribution feesReported in the segment externally selling the vehicle, for each applicable vehicle transaction

Assets are reported in each segment, aligned to the appropriate operational responsibility. Manufacturing assets, e.g., our plants and the machinery and equipment therein, are included in our Ford Blue and Ford Model e segments. Manufacturing assets producing only, or primarily, EVs and related components are reflected in Ford Model e. Manufacturing assets that support the production of ICE and hybrid vehicles, including those producing ICE and electric vehicles in the same facility, are included in Ford Blue. Company-owned vendor tooling dedicated to producing EV parts is reported in Ford Model e. Purchased regulatory credit compliance assets are reported in Ford Blue. There are no Ford manufacturing, Company-owned vendor tooling, or regulatory credit compliance assets reported in Ford Pro. Depreciation and amortization expense is reflected on the basis of production volume. Regulatory compliance credit expense is allocated by vehicle line between the Ford Blue and Ford Pro segments. Regardless of the segment reporting the asset, the related expenses are reported in the segment that reports the external vehicle sale.

Equity in net income/(loss) of affiliated companies is included in Income/(Loss) before income taxes, based primarily on which segment the entity supports or has the majority of the entity’s purchases or sales. The table below shows the segment reporting for our most significant unconsolidated entities:

Ford BlueFord Model eFord Pro
∘ Changan Ford Automobile Corporation, Ltd. (“CAF”)
∘ BlueOval SK, LLC (“BOSK”)
∘ Ford Otomotiv Sanayi Anonim Sirketi (“Ford Otosan”)
∘ Jiangling Motors Corporation, Ltd. (“JMC”)
∘ AutoAlliance (Thailand) Co., Ltd. (“AAT”)
NOTE 25.  SEGMENT INFORMATION (Continued)

Key financial information for the years ended or at December 31 was as follows (in millions):
 Ford BlueFord
Model e		Ford ProFord CreditUnallocated Amounts and Eliminations (a)Total
2023    
External revenues$101,934 $5,899 $58,058 $10,290 $10 $176,191 
Intersegment revenues (b)38,693 629 — — (39,322)— 
Total revenues$140,627 $6,528 $58,058 $10,290 $(39,312)$176,191 
Other segment items (c)133,174 11,306 50,841 8,959 
Segment EBIT/EBT$7,453 $(4,778)$7,217 $1,331 $11,223 
Reconciliation of Segment EBIT/EBT
Unallocated amounts:
Corporate Other(807)
Interest on debt (excludes $6,311 of Ford Credit interest on debt)
(1,302)
Special items (d)(5,147)
Income/(Loss) before income taxes$3,967 
Other Segment Disclosures
Depreciation and tooling amortization$3,378 $517 $1,291 $2,354 $150 $7,690 
Investment-related interest income110 1 32 522 902 1,567 
Equity in net income/(loss) of affiliated companies334 (55)589 32 (486)414 
Cash outflow for capital spending4,963 2,867 7 80 319 8,236 
Total assets59,036 13,692 2,942 148,521 49,119 273,310 
2024
External Revenues$101,935 $3,858 $66,906 $12,286 $7 $184,992 
Intersegment Revenues (b)43,442 257 — — (43,699)— 
Total Revenues$145,377 $4,115 $66,906 $12,286 $(43,692)$184,992 
Other segment items (c)140,108 9,220 57,899 10,632 
Segment EBIT/EBT$5,269 $(5,105)$9,007 $1,654 $10,825 
Reconciliation of Segment EBIT/EBT
Unallocated amounts:
Corporate Other(617)
Interest on debt (excludes $7,583 of Ford Credit interest on debt)
(1,115)
Special items (e)(1,860)
Income/(Loss) before income taxes$7,233 
Other Segment Disclosures
Depreciation and tooling amortization$2,952 $568 $1,394 $2,529 $124 $7,567 
Investment-related interest income167 2 52 500 819 1,540 
Equity in net income/(loss) of affiliated companies237 (66)482 42 (17)678 
Cash outflow for capital spending4,490 3,846 37 94 217 8,684 
Total assets58,834 17,111 3,469 157,534 48,248 285,196 
NOTE 25.  SEGMENT INFORMATION (Continued)
 Ford BlueFord
Model e		Ford ProFord CreditUnallocated Amounts and Eliminations (a)Total
2025
External Revenues$101,019 $6,670 $66,286 $13,271 $21 $187,267 
Intersegment Revenues (b)44,909 496 — — (45,405)— 
Total Revenues$145,928 $7,166 $66,286 $13,271 $(45,384)$187,267 
Other segment items (c)142,904 11,972 59,443 10,714 
Segment EBIT/EBT$3,024 $(4,806)$6,843 $2,557 $7,618 
Reconciliation of Segment EBIT/EBT
Unallocated amounts:
Corporate Other(838)
Interest on debt (excludes $7,133 of Ford Credit interest on debt)
(1,254)
Special items (f)(17,356)
Income/(Loss) before income taxes$(11,830)
Other Segment Disclosures
Depreciation and tooling amortization$3,188 $565 $1,397 $2,589 $8,235 (g)$15,974 
Investment-related interest income195 3 63 357 872 1,490 
Equity in net income/(loss) of affiliated companies206 (122)381 50 (3,668)(h)(3,153)
Cash outflow for capital spending4,976 3,543 49 121 126 8,815 
Total assets63,257 6,482 4,189 161,863 53,369 289,160 
__________
(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 includes material costs, manufacturing costs, warranty coverages and field service action costs, freight and distribution costs, vehicle and software engineering costs, spending-related costs, advertising and sales promotions costs, and administrative, information technology, and selling costs. Other segment items for the Ford Credit segment primarily includes interest expense and depreciation.
(d)Primarily reflects pension and OPEB remeasurement, restructuring actions in Europe and China, and the Transit Connect customs matter accrual.
(e)Includes a write-down of certain product-specific assets of $0.4 billion and other expenses of $0.8 billion 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, offset partially by pension and OPEB remeasurement.
(f)Primarily reflects a Model e asset impairment of $8.1 billion, asset write-downs of $1.3 billion (including $0.2 billion of goodwill), other charges due to EV program cancellations of $1.2 billion (see Note 13), and a $3.2 billion impairment of our investment in BOSK related to the expected BOSK JV disposition (see Note 23). The amount also reflects charges related to the all-electric three-row SUV program cancellation and resulting actions, ongoing restructuring actions in Europe, a field service action for fuel injectors, and pension and OPEB remeasurement.
(g)Includes $8.1 billion of depreciation related to the Model e asset impairment (see Note 13).
(h)Includes a $3.2 billion impairment of our investment in BOSK related to the expected BOSK JV disposition (see Note 23).

Geographic Information

We report revenue on a “where-sold” basis, which reflects the revenue within the country in which the ultimate sale or financing is made to our external customer.

Total Company revenues and long-lived assets, split geographically by our country of domicile (the United States) and other countries where our major subsidiaries are domiciled, for the years ended December 31 were as follows (in millions):
 202320242025
 RevenuesLong-Lived
Assets (a)		RevenuesLong-Lived
Assets (a)		RevenuesLong-Lived
Assets (a)
United States$116,995 $42,235 $124,968 $45,392 $122,574 $44,994 
Canada13,391 6,147 13,412 6,548 14,548 8,567 
United Kingdom8,968 1,868 9,936 2,174 12,298 2,260 
Mexico2,774 5,222 2,634 4,352 2,463 3,515 
All Other34,063 6,733 34,042 6,409 35,384 6,492 
Total Company$176,191 $62,205 $184,992 $64,875 $187,267 $65,828 
__________
(a)    Includes Net property and Net investment in operating leases from our consolidated balance sheets.