Consolidating Financial Information (Tables)

9 Months Ended

Sep. 30, 2011

Consolidating Financial Information [Abstract]

Consolidating Balance Sheet

	Consolidating Balance Sheet
	September 30, 2011
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	576		$	60		$	1,490		$	—		$	2,126
Accounts Receivable	1,078			271			2,659			—			4,008
Accounts Receivable From Affiliates	—			505			118			(623		)	—
Inventories	1,798			216			2,135			(112		)	4,037
Prepaid Expenses and Other Current Assets	60			4			266			11			341
Total Current Assets	3,512			1,056			6,668			(724		)	10,512
Goodwill	—			24			471			175			670
Intangible Assets	109			1			47			—			157
Deferred Income Taxes	—			1			55			(1		)	55
Other Assets	233			46			193			—			472
Investments in Subsidiaries	4,091			342			4,335			(8,768		)	—
Property, Plant and Equipment	2,096			161			3,971			35			6,263
Total Assets	$	10,041		$	1,631		$	15,740		$	(9,283	)	$	18,129
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	860		$	200		$	2,311		$	—		$	3,371
Accounts Payable to Affiliates	623			—			—			(623		)	—
Compensation and Benefits	426			32			363			—			821
Other Current Liabilities	341			32			734			(4		)	1,103
Notes Payable and Overdrafts	—			—			312			—			312
Long Term Debt and Capital Leases Due Within One Year	8			—			204			—			212
Total Current Liabilities	2,258			264			3,924			(627		)	5,819
Long Term Debt and Capital Leases	3,463			—			2,096			—			5,559
Compensation and Benefits	2,153			184			889			—			3,226
Deferred and Other Noncurrent Income Taxes	32			3			200			7			242
Other Long Term Liabilities	636			31			215			—			882
Total Liabilities	8,542			482			7,324			(620		)	15,728
Commitments and Contingent Liabilities
Minority Shareholders’ Equity	—			—			415			211			626
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Preferred Stock	500			—			—			—			500
Common Stock	244			333			5,029			(5,362		)	244
Capital Surplus	2,805			37			1,025			(1,062		)	2,805
Retained Earnings	1,169			1,229			2,878			(4,107		)	1,169
Accumulated Other Comprehensive Loss	(3,219		)	(450		)	(1,207		)	1,657			(3,219		)
Goodyear Shareholders’ Equity	1,499			1,149			7,725			(8,874		)	1,499
Minority Shareholders’ Equity — Nonredeemable	—			—			276			—			276
Total Shareholders’ Equity	1,499			1,149			8,001			(8,874		)	1,775
Total Liabilities and Shareholders’ Equity	$	10,041		$	1,631		$	15,740		$	(9,283	)	$	18,129

	Consolidating Balance Sheet
	December 31, 2010
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	792		$	38		$	1,175		$	—		$	2,005
Accounts Receivable	875			219			1,642			—			2,736
Accounts Receivable From Affiliates	—			434			197			(631		)	—
Inventories	1,259			185			1,610			(77		)	2,977
Prepaid Expenses and Other Current Assets	58			5			257			7			327
Total Current Assets	2,984			881			4,881			(701		)	8,045
Goodwill	—			24			476			183			683
Intangible Assets	109			1			51			—			161
Deferred Income Taxes	—			1			58			(1		)	58
Other Assets	241			48			229			—			518
Investments in Subsidiaries	3,879			313			4,324			(8,516		)	—
Property, Plant and Equipment	2,177			172			3,787			29			6,165
Total Assets	$	9,390		$	1,440		$	13,806		$	(9,006	)	$	15,630
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	814		$	140		$	2,153		$	—		$	3,107
Accounts Payable to Affiliates	631			—			—			(631		)	—
Compensation and Benefits	411			34			311			—			756
Other Current Liabilities	369			33			618			(2		)	1,018
Notes Payable and Overdrafts	—			—			238			—			238
Long Term Debt and Capital Leases Due Within One Year	1			—			187			—			188
Total Current Liabilities	2,226			207			3,507			(633		)	5,307
Long Term Debt and Capital Leases	3,573			—			746			—			4,319
Compensation and Benefits	2,296			209			910			—			3,415
Deferred and Other Noncurrent Income Taxes	31			3			202			6			242
Other Long Term Liabilities	620			32			190			—			842
Total Liabilities	8,746			451			5,555			(627		)	14,125
Commitments and Contingent Liabilities
Minority Shareholders’ Equity	—			—			374			210			584
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Preferred Stock	—			—			—			—			—
Common Stock	243			333			5,021			(5,354		)	243
Capital Surplus	2,805			35			1,025			(1,060		)	2,805
Retained Earnings	866			1,098			2,698			(3,796		)	866
Accumulated Other Comprehensive Loss	(3,270		)	(477		)	(1,144		)	1,621			(3,270		)
Goodyear Shareholders’ Equity	644			989			7,600			(8,589		)	644
Minority Shareholders’ Equity — Nonredeemable	—			—			277			—			277
Total Shareholders’ Equity	644			989			7,877			(8,589		)	921
Total Liabilities and Shareholders’ Equity	$	9,390		$	1,440		$	13,806		$	(9,006	)	$	15,630

Consolidating Statement of Operations

	Consolidating Statement of Operations Three Months Ended September 30, 2011
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
NET SALES	$	2,451		$	781		$	7,135		$	(4,305	)	$	6,062
Cost of Goods Sold	2,251			689			6,410			(4,377		)	4,973
Selling, Administrative and General Expense	210			49			421			(3		)	677
Rationalizations	19			—			6			—			25
Interest Expense	59			5			73			(51		)	86
Other (Income) and Expense	(80		)	—			(56		)	132			(4		)
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	(8		)	38			281			(6		)	305
United States and Foreign Taxes	30			(1		)	66			(1		)	94
Equity in Earnings of Subsidiaries	206			22			—			(228		)	—
Net Income (Loss)	168			61			215			(233		)	211
Less: Minority Shareholders’ Net Income	—			—			43			—			43
Goodyear Net Income (Loss)	168			61			172			(233		)	168
Less: Preferred Stock Dividends	7			—			—			—			7
Goodyear Net Income (Loss) available to Common Shareholders	$	161		$	61		$	172		$	(233	)	$	161

	Three Months Ended September 30, 2010
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
NET SALES	$	2,020		$	662		$	5,290		$	(3,010	)	$	4,962
Cost of Goods Sold	1,852			588			4,734			(3,054		)	4,120
Selling, Administrative and General Expense	224			46			372			(2		)	640
Rationalizations	1			—			7			—			8
Interest Expense	75			4			40			(29		)	90
Other (Income) and Expense	3			(4		)	(10		)	73			62
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	(135		)	28			147			2			42
United States and Foreign Taxes	(7		)	1			59			2			55
Equity in Earnings of Subsidiaries	108			1			—			(109		)	—
Net Income (Loss)	(20		)	28			88			(109		)	(13		)
Less: Minority Shareholders’ Net Income	—			—			7			—			7
Goodyear Net Income (Loss)	$	(20	)	$	28		$	81		$	(109	)	$	(20	)

	Consolidating Statement of Operations Nine Months Ended September 30, 2011
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
NET SALES	$	6,845		$	2,147		$	19,928		$	(11,836	)	$	17,084
Cost of Goods Sold	6,174			1,901			17,929			(11,998		)	14,006
Selling, Administrative and General Expense	674			138			1,293			(7		)	2,098
Rationalizations	56			3			21			—			80
Interest Expense	186			15			168			(128		)	241
Other (Income) and Expense	(174		)	(12		)	(95		)	329			48
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	(71		)	102			612			(32		)	611
United States and Foreign Taxes	29			7			190			(6		)	220
Equity in Earnings of Subsidiaries	418			36			—			(454		)	—
Net Income (Loss)	318			131			422			(480		)	391
Less: Minority Shareholders’ Net Income	—			—			73			—			73
Goodyear Net Income (Loss)	318			131			349			(480		)	318
Less: Preferred Stock Dividends	15			—			—			—			15
Goodyear Net Income (Loss) available to Common Shareholders	$	303		$	131		$	349		$	(480	)	$	303

	Nine Months Ended September 30, 2010
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
NET SALES	$	5,605		$	1,754		$	14,706	$	(8,305	)	$	13,760
Cost of Goods Sold	5,077			1,565			13,014		(8,394		)	11,262
Selling, Administrative and General Expense	685			137			1,098		(5		)	1,915
Rationalizations	1			5			10		—			16
Interest Expense	202			12			109		(82		)	241
Other (Income) and Expense	(40		)	(15		)	56		172			173
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	(320		)	50			419		4			153
United States and Foreign Taxes	(9		)	8			151		1			151
Equity in Earnings of Subsidiaries	272			19			—		(291		)	—
Net Income (Loss)	(39		)	61			268		(288		)	2
Less: Minority Shareholders’ Net Income	—			—			41		—			41
Goodyear Net Income (Loss)	$	(39	)	$	61		$	227	$	(288	)	$	(39	)

Consolidating Statement of Cash Flows

	Condensed Consolidating Statement of Cash Flows Nine Months Ended September 30, 2011
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Cash Flows from Operating Activities:
Total Cash Flows from Operating Activities	$	(455	)	$	44		$	(321	)	$	(240	)	$	(972	)
Cash Flows from Investing Activities:
Capital expenditures	(167		)	(19		)	(620		)	—			(806		)
Asset dispositions	61			—			7			—			68
Government grants received	—			—			55			—			55
Capital contributions	—			—			(11		)	11			—
Increase in restricted cash	—			—			(32		)	—			(32		)
Total Cash Flows from Investing Activities	(106		)	(19		)	(601		)	11			(715		)
Cash Flows from Financing Activities:
Short term debt and overdrafts incurred	—			—			190			—			190
Short term debt and overdrafts paid	—			—			(93		)	—			(93		)
Long term debt incurred	212			—			2,791			—			3,003
Long term debt paid	(350		)	—			(1,324		)	—			(1,674		)
Proceeds from issuance of preferred stock	484			—			—			—			484
Preferred stock dividends paid	(7		)	—			—			—			(7		)
Common stock issued	7			—			—			—			7
Capital contributions	—			—			11			(11		)	—
Intercompany dividends paid	—			—			(240		)	240			—
Dividends paid to minority shareholders	—			—			(15		)	—			(15		)
Debt related costs and other transactions	(1		)	—			(19		)	—			(20		)
Total Cash Flows from Financing Activities	345			—			1,301			229			1,875
Effect of exchange rate changes on cash and cash equivalents	—			(3		)	(64		)	—			(67		)
Net Change in Cash and Cash Equivalents	(216		)	22			315			—			121
Cash and Cash Equivalents at Beginning of the Period	792			38			1,175			—			2,005
Cash and Cash Equivalents at End of the Period	$	576		$	60		$	1,490		$	—		$	2,126

	Condensed Consolidating Statement of Cash Flows Nine Months Ended September 30, 2010
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Cash Flows from Operating Activities:
Total Cash Flows from Operating Activities	$	(113	)	$	23		$	404		$	(231	)	$	83
Cash Flows from Investing Activities:
Capital expenditures	(231		)	(14		)	(367		)	(6		)	(618		)
Asset dispositions	1			—			19			—			20
Capital contributions	—			—			(136		)	136			—
Capital redemptions	12			—			—			(12		)	—
Increase in restricted cash	—			—			(2		)	—			(2		)
Return of investment in The Reserve Primary Fund	26			—			—			—			26
Total Cash Flows from Investing Activities	(192		)	(14		)	(486		)	118			(574		)
Cash Flows from Financing Activities:
Short term debt and overdrafts incurred	—			3			91			—			94
Short term debt and overdrafts paid	(4		)	—			(60		)	—			(64		)
Long term debt incurred	993			—			632			—			1,625
Long term debt paid	(974		)	—			(255		)	—			(1,229		)
Common stock issued	1			—			—			—			1
Capital contributions	—			—			136			(136		)	—
Capital redemptions	—			—			(12		)	12			—
Intercompany dividends paid	—			—			(237		)	237			—
Dividends paid to minority shareholders	—			—			(10		)	—			(10		)
Debt related costs and other transactions	(21		)	—			—			—			(21		)
Total Cash Flows from Financing Activities	(5		)	3			285			113			396
Effect of exchange rate changes on cash and cash equivalents	—			—			(162		)	—			(162		)
Net Change in Cash and Cash Equivalents	(310		)	12			41			—			(257		)
Cash and Cash Equivalents at Beginning of the Period	802			17			1,103			—			1,922
Cash and Cash Equivalents at End of the Period	$	492		$	29		$	1,144		$	—		$	1,665