Stock Analysis on Net
Stock Analysis on Net

Ford Motor Co. (NYSE:F)

$24.99

Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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Ford Motor Co., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

Microsoft Excel
Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Payables
Dealer and dealers’ customer allowances and claims
Deferred revenue
Employee benefit plans
Accrued interest
Current operating lease liabilities
OPEB
Pension
Other
Current other liabilities and deferred revenue
Company excluding Ford Credit
Ford Credit
Debt payable within one year
Current liabilities
Dealer and dealers’ customer allowances and claims
Deferred revenue
OPEB
Pension
Non-current operating lease liabilities
Employee benefit plans
Other
Non-current other liabilities and deferred revenue
Company excluding Ford Credit
Ford Credit
Long-term debt payable after one year
Deferred income taxes
Non-current liabilities
Total liabilities
Common Stock, par value $.01 per share
Class B Stock, par value $.01 per share
Capital in excess of par value of stock
Retained earnings
Accumulated other comprehensive loss
Treasury stock
Equity attributable to Ford Motor Company
Equity attributable to noncontrolling interests
Total equity
Total liabilities and equity

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).

Overall, the liabilities of the company increased from 2021 to 2025, while total equity experienced fluctuations, ultimately decreasing over the period. This resulted in a net increase in total liabilities and equity. A more detailed examination of specific liability and equity components reveals nuanced trends.

Current Liabilities
Current liabilities demonstrated a consistent upward trend, increasing from US$90.727 billion in 2021 to US$114.890 billion in 2025. Significant contributors to this increase were Dealer and dealers’ customer allowances and claims, and Current other liabilities and deferred revenue. Payables remained relatively stable, with some fluctuation, while accrued interest also showed a moderate increase. Current operating lease liabilities also increased steadily, though from a smaller base.
Non-Current Liabilities
Non-current liabilities also generally increased from 2021 to 2025, rising from US$117.686 billion to US$138.290 billion. Long-term debt payable after one year was the primary driver of this increase, with a substantial rise throughout the period. Ford Credit’s non-current portion also contributed significantly. Deferred income taxes remained relatively stable, while OPEB and Pension obligations showed minor fluctuations.
Equity
Total equity experienced a more volatile pattern. It decreased from US$48.622 billion in 2021 to US$42.798 billion in 2023, before a slight recovery to US$44.858 billion in 2024, and then a substantial decrease to US$35.980 billion in 2025. Retained earnings experienced a significant decline, particularly between 2023 and 2025, which was a major factor in the overall equity reduction. Capital in excess of par value of stock remained relatively stable. Accumulated other comprehensive loss decreased, becoming less negative over time, but did not offset the decline in retained earnings. Treasury stock remained relatively constant.
Ford Credit vs. Company Excluding Ford Credit
Both Ford Credit and the company excluding Ford Credit experienced increases in both current and non-current liabilities. However, the magnitude of the increase was more pronounced for Ford Credit in the non-current liability category. The company excluding Ford Credit showed a decrease in equity in 2025, while Ford Credit’s equity remained relatively stable.
Deferred Revenue
Both current and non-current deferred revenue exhibited consistent growth throughout the period. This suggests a potential increase in advance payments or unearned revenue, which could indicate future revenue recognition. The growth rate appears to accelerate in later years.
Employee Benefit Plans
Employee benefit plan liabilities, encompassing both current and non-current portions, generally increased over the period. This suggests a growing obligation related to employee benefits, potentially driven by factors such as increased participation or changes in benefit terms.

In summary, the company’s balance sheet reflects increasing liabilities, particularly long-term debt and obligations related to Ford Credit, coupled with a declining equity position, primarily driven by a reduction in retained earnings. This suggests a growing reliance on debt financing and potentially reduced profitability or increased dividend payouts.