• Report non-current liabilities on the balance sheet

 

Ford Credit debt payable within one year (Note 20)51,17952,371Ford Credit long-term debt (Note 20)88,88787,658Deferred income taxes (Note 7)597490

FORD MOTOR COMPANY AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in millions)

Description	December 31, 2018	December 31, 2019
Subcategory, LIABILITIES
Payables	$     21,520	$     20,673
Other liabilities and deferred revenue (Note 17)	20,556	22,987
Automotive debt payable within one year (Note 20)	2,314	1,445
Other debt payable within one year (Note 20)	—	130
Liabilities held for sale (Note 24)	—	526
Total current liabilities	Single line 95,569	Single line 98,132
Other liabilities and deferred revenue (Note 17)	23,588	25,324
Automotive long-term debt (Note 20)	11,233	13,233
Other long-term debt (Note 20)	600	470
Total liabilities	Single line 220,474	Single line 225,307

 

You can probably see some of the inter-relationships between current and non-current liabilities. The most notable is that long-term debt includes a current portion that has to be split out on the face of the financial statements. It is usually entitled “current portion of long-term debt”, but on the Ford Motor Company balance sheet, it is conveniently called “debt payable within one year” and is detailed in Note 20.

In addition, note the amount of $25.324 billion reported as “Other liabilities and deferred revenue: is detailed in Note 17 (along with details of the current other liabilities of $22.987 billion):

Accrued interest9881,128OPEB5,2205,740

NOTE 17. OTHER LIABILITIES AND DEFERRED REVENUE
Other liabilities and deferred revenue at December 31 were as follows (in millions):
Description	2018	2019
Subcategory, Current
Dealer and dealers’ customer allowances and claims	$     11,369	$     13,113
Deferred revenue	2,095	2,091
Employee benefit plans	1,755	1,857
OPEB	339	332
Pension	204	184
Operating lease liabilities	—	367
Other	3,806	3,914
Total current other liabilities and deferred revenue	Single line $     20,556Double line	Single line $     22,987Double line
Subcategory, Non-current
Pension	$     9,423	$     9,878
Dealer and dealers’ customer allowances and claims	2,497	1,921
Deferred revenue	3,985	4,191
Operating lease liabilities	—	1,047
Employee benefit plans	1,080	1,104
Other	1,383	1,443
Total non-current other liabilities and deferred revenue	Single line $     23,588Double line	Single line $     25,324Double line

 

The Pension and OPEB (other post-employment benefits, such as health insurance) are long-term liabilities because they represent the present value of the future payments to employees who have or will retire and qualify for company benefits.

On the income statement, for finance leases, interest on the finance right-of-use liability and amortization (depreciation) on the finance right-of-use asset are presented in the same manner as the entity presents all other interest and depreciation expenses on similar assets. For operating leases, lease expense is included in the operating expenses.