Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Ford Motor Co., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash and cash equivalents	23,356)	22,935)	24,862)	25,134)	20,540)
Marketable securities	15,131)	15,413)	15,309)	18,936)	29,053)
Ford Credit finance receivables, net of allowance for credit losses	49,130)	51,850)	46,425)	38,720)	32,543)
Trade and other receivables, less allowances	15,398)	14,723)	15,601)	15,729)	11,370)
Inventories	15,285)	14,951)	15,651)	14,080)	12,065)
Other assets	5,187)	4,602)	3,633)	3,877)	3,425)
Current assets	123,487)	124,474)	121,481)	116,476)	108,996)
Ford Credit finance receivables, net of allowance for credit losses	61,449)	59,786)	55,650)	49,903)	51,256)
Net investment in operating leases	28,540)	22,947)	21,384)	22,772)	26,361)
Net property	37,288)	41,928)	40,821)	37,265)	37,139)
Equity in net assets of affiliated companies	2,753)	6,821)	5,548)	2,798)	4,545)
Deferred income taxes	21,953)	16,375)	16,985)	15,552)	13,796)
Other assets	13,690)	12,865)	11,441)	11,118)	14,942)
Non-current assets	165,673)	160,722)	151,829)	139,408)	148,039)
Total assets	289,160)	285,196)	273,310)	255,884)	257,035)

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

Total assets experienced fluctuations over the five-year period, beginning at US$257.035 billion in 2021, decreasing to US$255.884 billion in 2022, and then demonstrating a consistent upward trend, reaching US$289.160 billion by 2025. This overall increase suggests expansion of the company’s resource base. A significant portion of this asset base is comprised of both current and non-current assets, with notable shifts within each category.

Liquidity and Current Assets: Current assets generally increased from US$108.996 billion in 2021 to US$123.487 billion in 2025, although with some year-over-year variation. Cash and cash equivalents remained relatively stable, fluctuating between US$20.540 billion and US$25.134 billion. Marketable securities decreased substantially from 2021 to 2023, stabilizing thereafter. A consistent increase is observed in Ford Credit finance receivables, net of allowance for credit losses, growing from US$32.543 billion to US$49.130 billion, indicating a potential expansion of the company’s financing activities. Trade and other receivables, and inventories also showed modest increases over the period.
Long-Term Investments and Fixed Assets: Non-current assets exhibited a similar pattern to total assets, with a dip in 2022 followed by growth through 2025, reaching US$165.673 billion. Ford Credit finance receivables (non-current) increased steadily, from US$51.256 billion to US$61.449 billion, mirroring the trend in the current portion. Net investment in operating leases also showed an increase, particularly between 2024 and 2025. Net property, plant, and equipment increased from US$37.139 billion to US$41.928 billion before decreasing to US$37.288 billion in 2025. Deferred income taxes increased significantly from US$13.796 billion to US$21.953 billion, potentially reflecting changes in tax planning or accounting practices. Equity in net assets of affiliated companies was volatile, decreasing significantly in 2022 and 2025.

The composition of assets suggests a growing reliance on financing activities, as evidenced by the consistent increase in Ford Credit receivables. The fluctuations in marketable securities and net property may indicate strategic asset allocation decisions. The increase in deferred income taxes warrants further investigation to understand the underlying reasons. Overall, the asset base demonstrates a trend of expansion, although the specific components reveal a dynamic shift in the company’s asset allocation strategy.

Ford Motor Co. (NYSE:F)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items