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FORD CREDIT FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Tables)
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Schedule of Net Finance Receivables
Ford Credit finance receivables, net at December 31 were as follows (in millions):
 20242025
Consumer  
Retail installment contracts, gross$79,459 $80,467 
Finance leases, gross8,357 9,274 
Retail financing, gross87,816 89,741 
Unearned interest supplements(4,598)(4,486)
Consumer finance receivables83,218 85,255 
Non-Consumer 
Dealer financing29,282 26,235 
Non-Consumer finance receivables29,282 26,235 
Total recorded investment$112,500 $111,490 
Recorded investment in finance receivables$112,500 $111,490 
Allowance for credit losses(864)(911)
Total finance receivables, net$111,636 $110,579 
Current portion$51,850 $49,130 
Non-current portion59,786 61,449 
Total finance receivables, net$111,636 $110,579 
Net finance receivables subject to fair value (a)$103,755 $101,822 
Fair value (b)103,231 102,499 
__________
(a)Net finance receivables subject to fair value exclude finance leases.
(b)The fair value of finance receivables is categorized within Level 3 of the fair value hierarchy.
Schedule of Contractual Amount Due on Financing Lease Maturity
The amounts contractually due on Ford Credit’s finance leases at December 31 were as follows (in millions):
 2025
2026$2,089 
20271,975 
20281,724 
20291,068 
2030148 
Thereafter6 
Total future cash payments7,010 
Less: Present value discount602 
Finance lease receivables$6,408 
Schedule of Finance Lease Receivables to Finance Leases, Gross and Finance Leases, Net
The reconciliation from finance lease receivables to finance leases, gross and finance leases, net at December 31 is as follows (in millions):
 20242025
Finance lease receivables$5,367 $6,408 
Unguaranteed residual assets2,883 2,738 
Initial direct costs107 128 
Finance leases, gross8,357 9,274 
Unearned interest supplements from Ford and affiliated companies(437)(470)
Allowance for credit losses(39)(47)
Finance leases, net$7,881 $8,757 
Schedule of Credit Quality Analysis of Consumer Receivables
The credit quality analysis of consumer receivables at December 31, 2024 and gross charge-offs during the year ended December 31, 2024 were as follows (in millions):
Amortized Cost Basis by Origination Year
Prior to 202020202021202220232024TotalPercent
Consumer
31 - 60 days past due$43 $93 $104 $187 $242 $203 $872 1.0 %
Greater than 60 days past due15 27 35 57 82 59 275 0.4 
Total past due58 120 139 244 324 262 1,147 1.4 
Current788 3,162 5,458 12,275 24,153 36,235 82,071 98.6 
Total$846 $3,282 $5,597 $12,519 $24,477 $36,497 $83,218 100.0 %
Gross charge-offs$46 $58 $71 $152 $191 $50 $568 

The credit quality analysis of consumer receivables at December 31, 2025 and gross charge-offs during the year ended December 31, 2025 were as follows (in millions):
Amortized Cost Basis by Origination Year
Prior to 202120212022202320242025TotalPercent
Consumer
31 - 60 days past due$61 $65 $139 $228 $275 $166 $934 1.1 %
Greater than 60 days past due21 24 51 75 89 60 320 0.4 
Total past due82 89 190 303 364 226 1,254 1.5 
Current1,139 2,206 6,290 15,071 26,716 32,579 84,001 98.5 
Total$1,221 $2,295 $6,480 $15,374 $27,080 $32,805 $85,255 100.0 %
Gross charge-offs$54 $54 $124 $187 $205 $42 $666 
Schedule of Credit Quality Analysis of Dealer Financing Receivables
The credit quality analysis of dealer financing receivables at December 31, 2024 and gross charge-offs during the year ended December 31, 2024 were as follows (in millions):
Amortized Cost Basis by Origination YearWholesale Loans
Dealer Loans
Prior to 202020202021202220232024TotalTotalPercent
Group I$270 $63 $97 $47 $217 $245 $939 $25,257 $26,196 89.4 %
Group II13 — 3 1 28 31 76 2,494 2,570 8.8 
Group III— — 2 — 1 4 7 462 469 1.6 
Group IV— — — — — 1 1 46 47 0.2 
Total (a)
$283 $63 $102 $48 $246 $281 $1,023 $28,259 $29,282 100.0 %
Gross charge-offs$1 $— $— $— $— $— $1 $6 $7 
__________
(a)Total past due dealer financing receivables at December 31, 2024 were $8 million.

The credit quality analysis of dealer financing receivables at December 31, 2025 and gross charge-offs during the year ended December 31, 2025 were as follows (in millions):
Amortized Cost Basis by Origination YearWholesale Loans
Dealer Loans
Prior to 202120212022202320242025TotalTotalPercent
Group I$269 $68 $31 $149 $78 $268 $863 $20,608 $21,471 81.8 %
Group II25 8 4 33 46 44 160 3,979 4,139 15.8 
Group III1 — — 2 1 11 15 584 599 2.3 
Group IV— — — — — 2 2 24 26 0.1 
Total (a)
$295 $76 $35 $184 $125 $325 $1,040 $25,195 $26,235 100.0 %
Gross charge-offs$— $— $— $1 $— $— $1 $10 $11 
__________
(a)Total past due dealer financing receivables at December 31, 2025 were $8 million.
Schedule of Allowance for Credit Losses Related to Finance Receivables
An analysis of the allowance for credit losses related to finance receivables for the years ended December 31 was as follows (in millions):
2024
 ConsumerNon-ConsumerTotal
Allowance for credit losses
Beginning balance$879 $3 $882 
Charge-offs(568)(7)(575)
Recoveries160 3 163 
Provision for credit losses412 5 417 
Other (a)(23)— (23)
Ending balance$860 $4 $864 
2025
 ConsumerNon-ConsumerTotal
Allowance for credit losses   
Beginning balance$860 $4 $864 
Charge-offs(666)(11)(677)
Recoveries177 3 180 
Provision for credit losses516 12 528 
Other (a)15 1 16 
Ending balance$902 $9 $911 
__________
(a)Primarily represents amounts related to foreign currency translation adjustments.