SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2025

Costs are reflected in the associated segment externally reporting the vehicle sale, as detailed in the table below:


Income Statement Elements	Examples	Segment Reporting
Costs specific to a particular vehicle	Bill of material cost and initial warranty accrual	Reported in the segment externally selling the vehicle
Costs identifiable by product line	Manufacturing and logistics costs, depreciation & amortization expense, direct research & development costs	Typically identifiable to the product line or production location. Reported in the segment externally selling the vehicle, based on relative volume
Shared costs	Selling, general & administrative expense, and indirect/cross product line research & development costs	Typically 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 transactions	Contract manufacturing and distribution fees	Reported in the segment externally selling the vehicle, for each applicable vehicle transaction

The table below shows the segment reporting for our most significant unconsolidated entities:


Ford Blue	Ford Model e	Ford 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”)

Key financial information for the years ended or at December 31 was as follows (in millions):


	Ford Blue		Ford Model e		Ford Pro		Ford Credit		Unallocated 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 income	110		1		32		522		902		1,567
Equity in net income/(loss) of affiliated companies	334		(55)		589		32		(486)		414
Cash outflow for capital spending	4,963		2,867		7		80		319		8,236
Total assets	59,036		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 income	167		2		52		500		819		1,540
Equity in net income/(loss) of affiliated companies	237		(66)		482		42		(17)		678
Cash outflow for capital spending	4,490		3,846		37		94		217		8,684
Total assets	58,834		17,111		3,469		157,534		48,248		285,196

NOTE 25. SEGMENT INFORMATION (Continued)


	Ford Blue		Ford Model e		Ford Pro		Ford Credit		Unallocated 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 income	195		3		63		357		872			1,490
Equity in net income/(loss) of affiliated companies	206		(122)		381		50		(3,668)		(h)	(3,153)
Cash outflow for capital spending	4,976		3,543		49		121		126			8,815
Total assets	63,257		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).

Schedule of Geographic Information

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):


	2023				2024				2025
	Revenues		Long-Lived Assets (a)		Revenues		Long-Lived Assets (a)		Revenues		Long-Lived Assets (a)
United States	$	116,995	$	42,235	$	124,968	$	45,392	$	122,574	$	44,994
Canada	13,391		6,147		13,412		6,548		14,548		8,567
United Kingdom	8,968		1,868		9,936		2,174		12,298		2,260
Mexico	2,774		5,222		2,634		4,352		2,463		3,515
All Other	34,063		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.