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REVENUE
 9 Months Ended
Sep. 30, 2026
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
The following tables disaggregate our revenue by major source for the periods ended September 30 (in millions):

Third Quarter 2025
Company excluding Ford CreditFord CreditConsolidated
Vehicles, parts, and accessories$45,492 $— $45,492 
Used vehicles687 — 687 
Services and other revenue (a)902 24 926 
Revenues from sales and services
47,081 24 47,105 
Leasing income104 1,245 1,349 
Financing income— 2,040 2,040 
Insurance income— 40 40 
Total revenues$47,185 $3,349 $50,534 
Third Quarter 2026
Company excluding
Ford Credit		Ford CreditConsolidated
Vehicles, parts, and accessories$44,178 $— $44,178 
Used vehicles843 — 843 
Services and other revenue (a)995 27 1,022 
Revenues from sales and services
46,016 27 46,043 
Leasing income66 1,388 1,454 
Financing income— 1,993 1,993 
Insurance income— 36 36 
Total revenues$46,082 $3,444 $49,526 
First Nine Months 2025
Company excluding
Ford Credit		Ford CreditConsolidated
Vehicles, parts, and accessories$126,561 $— $126,561 
Used vehicles2,152 — 2,152 
Services and other revenue (a)2,589 61 2,650 
Revenues from sales and services
131,302 61 131,363 
Leasing income248 3,552 3,800 
Financing income— 6,094 6,094 
Insurance income— 120 120 
Total revenues$131,550 $9,827 $141,377 
First Nine Months 2026
Company excluding
Ford Credit		Ford CreditConsolidated
Vehicles, parts, and accessories$124,558 $— $124,558 
Used vehicles3,093 — 3,093 
Services and other revenue (a)2,920 68 2,988 
Revenues from sales and services
130,571 68 130,639 
Leasing income221 4,108 4,329 
Financing income— 5,990 5,990 
Insurance income— 117 117 
Total revenues$130,792 $10,283 $141,075 
__________
(a)Includes extended service contract revenue.
NOTE 3. REVENUE (Continued)

The amount of consideration we receive and revenue we recognize on our vehicles, parts, and accessories varies with changes in return rights, marketing incentives we offer to our customers and their customers, and other pricing adjustments. Estimates of marketing incentives and other pricing adjustments are based on our expectation of retail and fleet sales volumes, mix of products to be sold, competitor actions, and incentive programs to be offered. Customer acceptance of products and programs, as well as other market conditions, will affect these estimates. As a result of changes in our estimate of variable consideration (e.g., marketing incentives), we recorded an increase related to revenue recognized in prior periods of $163 million in the third quarter of 2025 and a de minimis amount in the third quarter of 2026.

We had a balance of $6.2 billion and $6.6 billion of unearned revenue associated primarily with outstanding extended service contracts reported in Other liabilities and deferred revenue at December 31, 2025 and September 30, 2026, respectively. We expect to recognize approximately $600 million of the unearned amount in the remainder of 2026, $1.9 billion in 2027, and $4.1 billion thereafter. We recognized $525 million and $565 million of unearned amounts from prior years as revenue during the third quarter of 2025 and 2026, respectively, and $1.5 billion and $1.7 billion during the first nine months of 2025 and 2026, respectively.

Amounts paid to dealers to obtain extended service contracts are deferred and recorded as Other assets. Our deferred cost balances were $307 million and $272 million as of December 31, 2025 and September 30, 2026, respectively. We recognized $27 million and $25 million of amortization during the third quarter of 2025 and 2026, respectively, and $79 million and $85 million during the first nine months of 2025 and 2026, respectively.