v3.25.4
NET INVESTMENT IN OPERATING LEASES (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Net Investment in Operating Leases
The net investment in operating leases at December 31 was as follows (in millions):
 20242025
Company excluding Ford Credit
Vehicles, net of depreciation$1,258 $2,038 
Ford Credit Segment
Vehicles, at cost (a)25,424 30,639 
Accumulated depreciation(3,735)(4,137)
Total Ford Credit Segment21,689 26,502 
Total$22,947 $28,540 
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(a)Includes Ford Credit’s operating lease assets of $13.3 billion and $13.6 billion at December 31, 2024 and 2025, respectively, that have been included in securitization transactions.  These net investments in operating leases are available only for payment of the debt or other obligations issued or arising in the securitization transactions; they are not available to pay other obligations or the claims of other creditors.
Schedule of Operating Lease Depreciation Expense Operating lease depreciation expense for the years ended December 31 was as follows (in millions):
 202320242025
Operating lease depreciation expense$2,309 $2,482 $2,522 
Schedule of Amounts Contractually Due on Operating Leases
The amounts contractually due on operating leases at December 31, 2025 were as follows (in millions):
 20262027202820292030Total
Operating lease payments$4,541 $3,181 $1,586 $404 $20 $9,732