Consolidating Financial Information (Tables)

3 Months Ended

Mar. 31, 2012

Consolidating Financial Information [Abstract]

Consolidating Balance Sheet

	Consolidating Balance Sheet
	March 31, 2012
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	702		$	85		$	1,296		$	—		$	2,083
Accounts Receivable	1,030			251			2,249			—			3,530
Accounts Receivable From Affiliates	—			541			133			(674		)	—
Inventories	1,611			228			2,221			(91		)	3,969
Prepaid Expenses and Other Current Assets	57			10			327			12			406
Total Current Assets	3,400			1,115			6,226			(753		)	9,988
Goodwill	—			25			469			178			672
Intangible Assets	110			1			46			—			157
Deferred Income Taxes	—			82			66			—			148
Other Assets	227			49			221			—			497
Investments in Subsidiaries	4,185			346			4,373			(8,904		)	—
Property, Plant and Equipment	2,132			159			4,197			40			6,528
Total Assets	$	10,054		$	1,777		$	15,598		$	(9,439	)	$	17,990
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	917		$	220		$	2,434		$	—		$	3,571
Accounts Payable to Affiliates	674			—			—			(674		)	—
Compensation and Benefits	405			35			326			—			766
Other Current Liabilities	277			41			793			(12		)	1,099
Notes Payable and Overdrafts	—			—			291			—			291
Long Term Debt and Capital Leases Due Within One Year	11			—			143			—			154
Total Current Liabilities	2,284			296			3,987			(686		)	5,881
Long Term Debt and Capital Leases	3,360			—			1,826			—			5,186
Compensation and Benefits	2,712			290			883			—			3,885
Deferred and Other Noncurrent Income Taxes	33			5			206			9			253
Other Long Term Liabilities	802			33			173			—			1,008
Total Liabilities	9,191			624			7,075			(677		)	16,213
Commitments and Contingent Liabilities
Minority Shareholders’ Equity	—			—			417			209			626
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Preferred Stock	500			—			—			—			500
Common Stock	245			333			5,041			(5,374		)	245
Capital Surplus	2,809			40			1,063			(1,103		)	2,809
Retained Earnings	1,176			1,314			2,898			(4,212		)	1,176
Accumulated Other Comprehensive Loss	(3,867		)	(534		)	(1,184		)	1,718			(3,867		)
Goodyear Shareholders’ Equity	863			1,153			7,818			(8,971		)	863
Minority Shareholders’ Equity — Nonredeemable	—			—			288			—			288
Total Shareholders’ Equity	863			1,153			8,106			(8,971		)	1,151
Total Liabilities and Shareholders’ Equity	$	10,054		$	1,777		$	15,598		$	(9,439	)	$	17,990

	Consolidating Balance Sheet
	December 31, 2011
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	916		$	108		$	1,748		$	—		$	2,772
Accounts Receivable	984			217			1,648			—			2,849
Accounts Receivable From Affiliates	—			512			204			(716		)	—
Inventories	1,579			227			2,135			(85		)	3,856
Prepaid Expenses and Other Current Assets	53			9			262			11			335
Total Current Assets	3,532			1,073			5,997			(790		)	9,812
Goodwill	—			25			460			169			654
Intangible Assets	110			1			46			—			157
Deferred Income Taxes	—			82			63			—			145
Other Assets	226			49			211			—			486
Investments in Subsidiaries	4,067			339			4,367			(8,773		)	—
Property, Plant and Equipment	2,129			162			4,044			40			6,375
Total Assets	$	10,064		$	1,731		$	15,188		$	(9,354	)	$	17,629
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	925		$	199		$	2,544		$	—		$	3,668
Accounts Payable to Affiliates	716			—			—			(716		)	—
Compensation and Benefits	445			31			323			—			799
Other Current Liabilities	344			34			688			(16		)	1,050
Notes Payable and Overdrafts	—			—			256			—			256
Long Term Debt and Capital Leases Due Within One Year	11			—			145			—			156
Total Current Liabilities	2,441			264			3,956			(732		)	5,929
Long Term Debt and Capital Leases	3,271			—			1,518			—			4,789
Compensation and Benefits	2,793			294			915			—			4,002
Deferred and Other Noncurrent Income Taxes	32			5			199			8			244
Other Long Term Liabilities	778			33			230			—			1,041
Total Liabilities	9,315			596			6,818			(724		)	16,005
Commitments and Contingent Liabilities
Minority Shareholders’ Equity	—			—			404			203			607
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Preferred Stock	500			—			—			—			500
Common Stock	245			333			5,033			(5,366		)	245
Capital Surplus	2,808			39			1,065			(1,104		)	2,808
Retained Earnings	1,187			1,303			2,850			(4,153		)	1,187
Accumulated Other Comprehensive Loss	(3,991		)	(540		)	(1,250		)	1,790			(3,991		)
Goodyear Shareholders’ Equity	749			1,135			7,698			(8,833		)	749
Minority Shareholders’ Equity — Nonredeemable	—			—			268			—			268
Total Shareholders’ Equity	749			1,135			7,966			(8,833		)	1,017
Total Liabilities and Shareholders’ Equity	$	10,064		$	1,731		$	15,188		$	(9,354	)	$	17,629

Consolidating Statement of Operations

	Consolidating Statement of Operations
	Three Months Ended March 31, 2012
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	2,287		$	756		$	6,305		$	(3,815	)	$	5,533
Cost of Goods Sold	2,051			692			5,734			(3,870		)	4,607
Selling, Administrative and General Expense	201			47			413			1			662
Rationalizations	6			—			9			—			15
Interest Expense	66			4			81			(50		)	101
Other (Income) and Expense	20			(7		)	(30		)	109			92
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	(57		)	20			98			(5		)	56
United States and Foreign Taxes	9			7			30			2			48
Equity in Earnings of Subsidiaries	62			(3		)	—			(59		)	—
Net Income (Loss)	(4		)	10			68			(66		)	8
Less: Minority Shareholders’ Net Income	—			—			12			—			12
Goodyear Net (Loss) Income	(4		)	10			56			(66		)	(4		)
Less: Preferred Stock Dividends	7			—			—			—			7
Goodyear Net (Loss) Income available to Common Shareholders	$	(11	)	$	10		$	56		$	(66	)	$	(11	)
Comprehensive Income	$	120		$	16		$	156		$	(132	)	$	160
Less: Comprehensive Income Attributable to Minority Shareholders	—			—			34			6			40
Goodyear Comprehensive Income	$	120		$	16		$	122		$	(138	)	$	120

	Three Months Ended March 31, 2011
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	2,139		$	661		$	6,281		$	(3,679	)	$	5,402
Cost of Goods Sold	1,935			594			5,647			(3,715		)	4,461
Selling, Administrative and General Expense	216			44			410			(2		)	668
Rationalizations	4			2			3			—			9
Interest Expense	64			5			40			(35		)	74
Other (Income) and Expense	(64		)	(3		)	(19		)	90			4
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	(16		)	19			200			(17		)	186
United States and Foreign Taxes	(3		)	4			64			(3		)	62
Equity in Earnings of Subsidiaries	116			10			—			(126		)	—
Net Income (Loss)	103			25			136			(140		)	124
Less: Minority Shareholders’ Net Income	—			—			21			—			21
Goodyear Net Income (Loss)	$	103		$	25		$	115		$	(140	)	$	103
Comprehensive Income	$	192		$	27		$	219		$	(187	)	$	251
Less: Comprehensive Income Attributable to Minority Interest	—			—			47			12			59
Goodyear Comprehensive Income	$	192		$	27		$	172		$	(199	)	$	192

Consolidating Statement of Cash Flows

	Condensed Consolidating Statement of Cash Flows
	Three Months Ended March 31, 2012
(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	$	(159	)	$	(19	)	$	(572	)	$	(4	)	$	(754	)
Cash Flows from Investing Activities:
Capital expenditures	(73		)	(5		)	(198		)	—			(276		)
Capital contributions	—			—			(8		)	8			—
Increase in restricted cash	(1		)	—			(20		)	—			(21		)
Other transactions	4			—			(2		)	—			2
Total Cash Flows from Investing Activities	(70		)	(5		)	(228		)	8			(295		)
Cash Flows from Financing Activities:
Short term debt and overdrafts incurred	—			—			57			—			57
Short term debt and overdrafts paid	—			—			(31		)	—			(31		)
Long term debt incurred	700			—			407			—			1,107
Long term debt paid	(653		)	—			(130		)	—			(783		)
Preferred stock dividends paid	(7		)	—			—			—			(7		)
Capital contributions and loans	(30		)	—			38			(8		)	—
Capital redemptions and loans	19			—			(19		)	—			—
Intercompany dividends paid	—			—			(4		)	4			—
Transactions with minority interests in subsidiaries	—			—			(3		)	—			(3		)
Debt related costs and other transactions	(14		)	—			—			—			(14		)
Total Cash Flows from Financing Activities	15			—			315			(4		)	326
Effect of exchange rate changes on cash and cash equivalents	—			1			33			—			34
Net Change in Cash and Cash Equivalents	(214		)	(23		)	(452		)	—			(689		)
Cash and Cash Equivalents at Beginning of the Period	916			108			1,748			—			2,772
Cash and Cash Equivalents at End of the Period	$	702		$	85		$	1,296		$	—		$	2,083

	Condensed Consolidating Statement of Cash Flows
	Three Months Ended March 31, 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	$	(115	)	$	(1	)	$	(259	)	$	(58	)	$	(433	)
Cash Flows from Investing Activities:
Capital expenditures	(74		)	(8		)	(199		)	(3		)	(284		)
Asset dispositions	—			—			2			—			2
Increase in restricted cash	(1		)	—			(67		)	—			(68		)
Total Cash Flows from Investing Activities	(75		)	(8		)	(264		)	(3		)	(350		)
Cash Flows from Financing Activities:
Short term debt and overdrafts incurred	—			—			16			—			16
Short term debt and overdrafts paid	(3		)	(5		)	(13		)	—			(21		)
Long term debt incurred	—			—			917			—			917
Long term debt paid	—			—			(423		)	—			(423		)
Proceeds from issuance of preferred stock	485			—			—			—			485
Common stock issued	4			—			—			—			4
Intercompany dividends paid	—			—			(61		)	61			—
Transactions with minority interests in subsidiaries	—			—			(4		)	—			(4		)
Total Cash Flows from Financing Activities	486			(5		)	432			61			974
Effect of exchange rate changes on cash and cash equivalents	—			—			19			—			19
Net Change in Cash and Cash Equivalents	296			(14		)	(72		)	—			210
Cash and Cash Equivalents at Beginning of the Period	792			38			1,175			—			2,005
Cash and Cash Equivalents at End of the Period	$	1,088		$	24		$	1,103		$	—		$	2,215