v3.25.4
LEASE COMMITMENTS (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Lease Right-of-Use Assets and Liabilities
Lease right-of-use assets and liabilities at December 31 were as follows (in millions):
20242025
Operating leases
Other assets, non-current$2,308 $2,389 
Other liabilities and deferred revenue, current$558 $567 
Other liabilities and deferred revenue, non-current1,782 1,835 
Total operating lease liabilities$2,340 $2,402 
Finance leases
Property and equipment, gross$1,150 $1,304 
Accumulated depreciation(162)(298)
Property and equipment, net$988 $1,006 
Company excluding Ford Credit debt payable within one year$94 $136 
Company excluding Ford Credit long-term debt711 754 
Total finance lease liabilities$805 $890 
Schedule of Lease Liabilities Maturity
The amounts contractually due on our lease liabilities as of December 31, 2025 were as follows (in millions):
Operating Leases (a)Finance
Leases
2026$666 $180 
2027548 177 
2028414 119 
2029305 101 
2030202 96 
Thereafter644 455 
Total2,779 1,128 
Less: Present value discount377 238 
Total lease liabilities$2,402 $890 
__________
(a)    Excludes approximately $1,141 million in future lease payments for various leases commencing in future periods.
Schedule of Cash Paid for Income Taxes, Net of Refunds
Cash paid for income taxes, net of refunds, for the year ended December 31, 2025, were as follows (in millions):
2025
Cash paid for income taxes, net of refunds
U.S. federal$52 
U.S. state and local42 
Foreign
Mexico158 
Other (a)370 
Total$622 
__________
(a)    Includes payments to numerous jurisdictions that are individually insignificant.
Supplemental cash flow information related to leases for the years ended December 31 was as follows (in millions):
202320242025
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$581 $663 $751 
Operating cash flows from finance leases32 39 46 
Financing cash flows from finance leases91 110 135 
Right-of-use assets obtained in exchange for lease liabilities
Operating leases$889 $1,051 $723 
Finance leases165 286 185 
Schedule of Components of Lease Expense
The components of lease expense for the years ended December 31 were as follows (in millions):
202320242025
Operating lease expense$580 $650 $744 
Variable lease expense109 167 159 
Sublease income(18)(18)(16)
Finance lease expense
Amortization of right-of-use assets (a)64 80 166 
Interest on lease liabilities32 39 46 
Total lease expense$767 $918 $1,099 
__________
(a)    Included in 2025 is our impairment of finance lease assets. See Note 13 for additional information.
Schedule of Weighted-Average Remaining Lease Term and Discount Rate
The weighted average remaining lease term and weighted average discount rate at December 31 were as follows:
202320242025
Weighted average remaining lease term (in years)
Operating leases5.45.76.0
Finance leases11.910.89.2
Weighted average discount rate
Operating leases4.7 %4.5 %4.7 %
Finance leases5.3 4.8 4.9