Other assets

  
FORD MOTOR COMPANY AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS(in millions)

|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|   | December 31,2020 |  | December 31,2021 |
| ASSETS |   |  |   |
| Cash and cash equivalents (Note 9) | $ | 25,243  |  |  | $ | 20,540  |  |
| Marketable securities (Note 9) | 24,718  |  |  | 29,053  |  |
| Ford Credit finance receivables, net of allowance for credit losses of $394 and $282 (Note 10) | 42,401  |  |  | 32,543  |  |
| Trade and other receivables, less allowances of $84 and $48 | 9,993  |  |  | 11,370  |  |
| Inventories (Note 11) | 10,808  |  |  | 12,065  |  |
| Other assets | 3,581  |  |  | 3,425  |  |
| Total current assets | 116,744  |  |  | 108,996  |  |
| Ford Credit finance receivables, net of allowance for credit losses of $911 and $643 (Note 10) | 55,277  |  |  | 51,256  |  |
| Net investment in operating leases (Note 12) | 27,951  |  |  | 26,361  |  |
| Net property (Note 13) | 37,083  |  |  | 37,139  |  |
| Equity in net assets of affiliated companies (Note 14) | 4,901  |  |  | 4,545  |  |
| Deferred income taxes (Note 7) | 12,423  |  |  | 13,796  |  |
| Other assets | 12,882  |  |  | 14,942  |  |
| Total assets | $ | 267,261  |  |  | $ | 257,035  |  |
| LIABILITIES |   |  |   |
| Payables | $ | 22,204  |  |  | $ | 22,349  |  |
| Other liabilities and deferred revenue (Note 16 and Note 25) | 23,645  |  |  | 18,686  |  |
| Debt payable within one year (Note 19) |  |  |  |
| Company excluding Ford Credit | 1,374  |  |  | 3,175  |  |
| Ford Credit | 49,969  |  |  | 46,517  |  |
| Total current liabilities | 97,192  |  |  | 90,727  |  |
| Other liabilities and deferred revenue (Note 16 and Note 25) | 28,379  |  |  | 27,705  |  |
| Long-term debt (Note 19) |  |  |  |
| Company excluding Ford Credit | 22,633  |  |  | 17,200  |  |
| Ford Credit | 87,708  |  |  | 71,200  |  |
| Deferred income taxes (Note 7) | 538  |  |  | 1,581  |  |
| Total liabilities | 236,450  |  |  | 208,413  |  |
| EQUITY |   |  |   |
| Common Stock, par value $0.01 per share (4,050 million shares issued of 6 billion authorized) | 40  |  |  | 40  |  |
| Class B Stock, par value $0.01 per share (71 million shares issued of 530 million authorized) | 1  |  |  | 1  |  |
| Capital in excess of par value of stock | 22,290  |  |  | 22,611  |  |
| Retained earnings | 18,243  |  |  | 35,769  |  |
| Accumulated other comprehensive income/(loss) (Note 23) | (8,294) |  |  | (8,339) |  |
| Treasury stock | (1,590) |  |  | (1,563) |  |
| Total equity attributable to Ford Motor Company | 30,690  |  |  | 48,519  |  |
| Equity attributable to noncontrolling interests | 121  |  |  | 103  |  |
| Total equity | 30,811  |  |  | 48,622  |  |
| Total liabilities and equity | $ | 267,261  |  |  | $ | 257,035  |  |

  
The following table includes assets to be used to settle liabilities of the consolidated variable interest entities (“VIEs”).  These assets and liabilities are included in the consolidated balance sheets above.  See Note 24 for additional information on our VIEs.

|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  | December 31,2020 |  | December 31,2021 |
| ASSETS |   |  |   |
| Cash and cash equivalents | $ | 2,822  |  |  | $ | 3,407  |  |
| Ford Credit finance receivables, net | 51,472  |  |  | 43,001  |  |
| Net investment in operating leases | 12,794  |  |  | 7,540  |  |
| Other assets | —  |  |  | 39  |  |
| LIABILITIES |  |  |  |
| Other liabilities and deferred revenue | $ | 56  |  |  | $ | 6  |  |
| Debt | 46,770  |  |  | 38,274  |  |

The accompanying notes are part of the consolidated financial statements.111
