v3.26.3
FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES (Tables)
 9 Months Ended
Sep. 30, 2026
Receivables [Abstract]  
Schedule of Total Finance Receivables, Net
Total finance receivables, net were as follows (in millions):
December 31,
2025		September 30,
2026
Consumer
Retail installment contracts, gross$80,584 $77,886 
Finance leases, gross9,274 8,945 
Retail financing, gross89,858 86,831 
Unearned interest supplements from Ford and affiliated companies(4,486)(3,866)
Consumer finance receivables 85,372 82,965 
Non-Consumer
Dealer financing 32,933 33,621 
Other financing2,402 2,499 
Non-Consumer finance receivables 35,335 36,120 
Total recorded investment $120,707 $119,085 
Recorded investment in finance receivables$120,707 $119,085 
Allowance for credit losses(911)(984)
Total finance receivables, net$119,796 $118,101 
Net finance receivables subject to fair value (a)$111,039 $109,701 
Fair value (b)111,716 109,087 
__________
(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 Credit Quality
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 6,299 15,096 26,754 32,624 84,118 98.5 
Total$1,221 $2,295 $6,489 $15,399 $27,118 $32,850 $85,372 100.0 %
Gross charge-offs$54 $54 $124 $187 $205 $42 $666 

The credit quality analysis of consumer receivables at September 30, 2026 and gross charge-offs during the first nine months of 2026 were as follows (in millions):
Amortized Cost Basis by Origination Year
Prior to 202220222023202420252026TotalPercent
Consumer
31-60 days past due$60 $93 $172 $234 $213 $100 $872 1.0 %
Greater than 60 days past due24 34 60 82 77 35 312 0.4 
Total past due84 127 232 316 290 135 1,184 1.4 
Current1,184 3,294 9,089 19,415 25,923 22,876 81,781 98.6 
Total$1,268 $3,421 $9,321 $19,731 $26,213 $23,011 $82,965 100.0 %
Gross charge-offs$44 $67 $120 $167 $123 $17 $538 
Schedule of Credit Quality Analysis of Dealer Financing Receivables
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 Year
Dealer Loans
Prior to 202120212022202320242025TotalWholesale LoansTotalPercent
Group I$269 $68 $31 $149 $78 $268 $863 $27,306 $28,169 85.5 %
Group II25 8 4 33 46 44 160 3,979 4,139 12.6 
Group III1 — — 2 1 11 15 584 599 1.8 
Group IV— — — — — 2 2 24 26 0.1 
Total (a)$295 $76 $35 $184 $125 $325 $1,040 $31,893 $32,933 100.0 %
Gross charge-offs$— $— $— $1 $— $— $1 $10 $11 
__________
(a)Total past due dealer financing receivables at December 31, 2025 were $8 million. 

The credit quality analysis of dealer financing receivables at September 30, 2026 and gross charge-offs during the first nine months of 2026 were as follows (in millions):
Amortized Cost Basis by Origination Year
Dealer Loans
Prior to 202220222023202420252026TotalWholesale LoansTotalPercent
Group I$262 $28 $152 $78 $161 $249 $930 $28,611 $29,541 87.9 %
Group II45 2 12 47 23 27 156 3,215 3,371 10.0 
Group III6 — — — 2 6 14 672 686 2.0 
Group IV— — — 1 1 — 2 21 23 0.1 
Total (a)$313 $30 $164 $126 $187 $282 $1,102 $32,519 $33,621 100.0 %
Gross charge-offs$— $— $— $— $— $— $— $14 $14 
__________
(a)Total past due dealer financing receivables at September 30, 2026 were $7 million.
Schedule of Allowance for Credit Losses
An analysis of the allowance for credit losses related to finance receivables for the periods ended September 30 was as follows (in millions):
Third Quarter 2025Third Quarter 2026
ConsumerNon-ConsumerTotal ConsumerNon-ConsumerTotal
Allowance for credit losses
Beginning balance$885 $5 $890 $953 $15 $968 
Charge-offs (177)1 (176)(180)(9)(189)
Recoveries48 — 48 45 — 45 
Provision for credit losses134 1 135 169 4 173 
Other (a) — — — (13)— (13)
Ending balance$890 $7 $897 $974 $10 $984 
First Nine Months 2025First Nine Months 2026
ConsumerNon-ConsumerTotalConsumerNon-ConsumerTotal
Allowance for credit losses
Beginning balance$860 $4 $864 $902 $9 $911 
Charge-offs(490)(13)(503)(538)(14)(552)
Recoveries133 — 133 139 5 144 
Provision for credit losses374 15 389 485 10 495 
Other (a)13 1 14 (14)— (14)
Ending balance$890 $7 $897 $974 $10 $984 
__________
(a)Includes gains/(losses) on unguaranteed residuals on retail balloon and finance lease receivables as well as amounts related to foreign currency translation adjustments.