v3.26.3
CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES (Tables)
 9 Months Ended
Sep. 30, 2026
Cash and Cash Equivalents [Abstract]  
Schedule of Fair Values of Cash, Cash Equivalents, and Marketable Securities
The fair values of cash, cash equivalents, and marketable securities were as follows (in millions):
December 31, 2025
Fair Value LevelCompany excluding Ford CreditFord CreditConsolidated
Cash and cash equivalents
U.S. government1$1,649 $70 $1,719 
U.S. government agencies2610 400 1,010 
Non-U.S. government and agencies21,300 1,082 2,382 
Corporate debt21,404 780 2,184 
Total marketable securities classified as cash equivalents
4,963 2,332 7,295 
Cash, time deposits, and money market funds9,123 6,938 16,061 
Total cash and cash equivalents$14,086 $9,270 $23,356 
Marketable securities
U.S. government1$3,817 $224 $4,041 
U.S. government agencies21,319 — 1,319 
Non-U.S. government and agencies22,043 91 2,134 
Corporate debt26,755 269 7,024 
Other marketable securities2413 200 613 
Total marketable securities$14,347 $784 $15,131 
Restricted cash$251 $107 $358 
Cash, cash equivalents, and restricted cash - held for sale$36 $— $36 
September 30, 2026
Fair Value LevelCompany excluding Ford CreditFord CreditConsolidated
Cash and cash equivalents
U.S. government1$300 $103 $403 
U.S. government agencies22,027 50 2,077 
Non-U.S. government and agencies21,299 352 1,651 
Corporate debt2337 739 1,076 
Total marketable securities classified as cash equivalents
3,963 1,244 5,207 
Cash, time deposits, and money market funds10,061 7,007 17,068 
Total cash and cash equivalents$14,024 $8,251 $22,275 
Marketable securities
U.S. government1$2,457 $223 $2,680 
U.S. government agencies21,027 — 1,027 
Non-U.S. government and agencies21,553 94 1,647 
Corporate debt25,671 266 5,937 
Other marketable securities2356 185 541 
Total marketable securities$11,064 $768 $11,832 
Restricted cash$184 $104 $288 
Cash, cash equivalents, and restricted cash - held for sale$— $— $— 
Schedule of Debt Securities, Available-For-Sale
The cash equivalents and marketable securities accounted for as available-for-sale (“AFS”) securities were as follows (in millions):
December 31, 2025
Fair Value of Securities with
Contractual Maturities
Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueWithin 1 YearAfter 1 Year through
5 Years		After 5 Years
Company excluding Ford Credit
U.S. government$3,724 $25 $(2)$3,747 $356 $3,391 $— 
U.S. government agencies1,358 6 (8)1,356 460 892 4 
Non-U.S. government and agencies1,958 12 (8)1,962 553 1,400 9 
Corporate debt8,065 65 (1)8,129 2,925 5,200 4 
Other marketable securities385 3 — 388 2 357 29 
Total$15,490 $111 $(19)$15,582 $4,296 $11,240 $46 
September 30, 2026
Fair Value of Securities with
Contractual Maturities
Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueWithin 1 YearAfter 1 Year through
5 Years		After 5 Years
Company excluding Ford Credit
U.S. government$2,417 $— $(36)$2,381 $444 $1,937 $— 
U.S. government agencies1,049 — (21)1,028 281 747 — 
Non-U.S. government and agencies1,590 — (39)1,551 244 1,307 — 
Corporate debt6,068 3 (92)5,979 655 5,314 10 
Other marketable securities331 — (2)329 — 289 40 
Total
$11,455 $3 $(190)$11,268 $1,624 $9,594 $50 

Sales proceeds and gross realized gains/losses from the sale of AFS securities for the periods ended September 30 were as follows (in millions):
Third QuarterFirst Nine Months
2025202620252026
Company excluding Ford Credit
Sales proceeds$736 $1,481 $4,177 $5,301 
Gross realized gains3 4 12 19 
Gross realized losses— 3 4 5 
Schedule of Cash, Cash Equivalents, and Restricted Cash
Cash, cash equivalents, and restricted cash, as reported on our consolidated statements of cash flows, were as follows (in millions):
December 31,
2025		September 30,
2026
Cash and cash equivalents$23,356 $22,275 
Restricted cash (a)358 288 
Cash, cash equivalents, and restricted cash - held for sale36 — 
Total cash, cash equivalents, and restricted cash$23,750 $22,563 
__________
(a)Included in Other assets in the non-current assets section of our consolidated balance sheets.