Changes in Shareholders' Equity

6 Months Ended

Jun. 30, 2012

Equity [Abstract]

CHANGES IN SHAREHOLDERS' EQUITY

CHANGES IN SHAREHOLDERS’ EQUITY

The following tables present the changes in shareholders’ equity for the six months ended June 30, 2012 and 2011:

	June 30, 2012									June 30, 2011
(In millions)	Goodyear Shareholders’ Equity			Minority Shareholders’ Equity – Nonredeemable			Total Shareholders’ Equity			Goodyear Shareholders’ Equity			Minority Shareholders’ Equity – Nonredeemable			Total Shareholders’ Equity
Balance at beginning of period	$	749		$	268		$	1,017		$	644		$	277		$	921
Purchase of subsidiary shares from minority interest	—			(18		)	(18		)	—			—			—
Comprehensive income:
Net income	88			18			106			150			19			169
Foreign currency translation (net of tax of $0 in 2012 and $0 in 2011)	(12		)	3			(9		)	98			6			104
Amortization of prior service cost and unrecognized gains and losses included in total benefit cost (net of tax of $4 in 2012 and $2 in 2011)	103			—			103			81			—			81
Decrease in net actuarial losses (net of tax of $7 in 2012 and $1 in 2011)	25			—			25			3			—			3
Immediate recognition of prior service cost and unrecognized gains and losses due to curtailments, settlements, and divestitures (net of tax of $0 in 2012 and $1 in 2011)	—			—			—			13			—			13
Prior service cost from plan amendments (net of tax of $(2) in 2012 and $0 in 2011)	(4		)	—			(4		)	—			—			—
Deferred derivative gains (losses) (net of tax of $0 in 2012 and $0 in 2011)	2			—			2			(11		)	—			(11		)
Reclassification adjustment for amounts recognized in income (net of tax of $(2) in 2012 and $0 in 2011)	(1		)	—			(1		)	2			—			2
Unrealized investment gains (net of tax of $0 in 2012 and $0 in 2011)	3			—			3			5			—			5
Other comprehensive income	116			3			119			191			6			197
Total comprehensive income	204			21			225			341			25			366
Dividends declared to minority shareholders	—			(8		)	(8		)	—			(19		)	(19		)
Stock-based compensation plans (Note 10)	9			—			9			6			—			6
Preferred stock issued, net of expenses	—			—			—			484			—			484
Preferred stock dividends declared	(15		)	—			(15		)	(7		)	—			(7		)
Common stock issued from treasury	—			—			—			7			—			7
Other	—			—			—			—			1			1
Balance at end of period	$	947		$	263		$	1,210		$	1,475		$	284		$	1,759

The following table presents changes in Minority Equity presented outside of Shareholders’ Equity:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(In millions)	2012			2011			2012			2011
Balance at beginning of period	$	626		$	628		$	607		$	584
Comprehensive income (loss):
Net income	1			1			5			11
Foreign currency translation, net of tax of $0 and $0 in 2012 ($0 and $0 in 2011)	(29		)	8			(12		)	43
Amortization of prior service cost and unrecognized gains and losses included in total benefit cost, net of tax of $0 and $0 in 2012 ($0 and $0 in 2011)	1			1			3			2
Decrease in net actuarial losses, net of tax of $0 and $0 in 2012 ($0 and $0 in 2011)	1			1			—			1
Deferred derivative gains (losses), net of tax of $0 and $0 in 2012 ($0 and $0 in 2011)	3			(1		)	—			(3		)
Reclassification adjustment for amounts recognized in income, net of tax of $0 and $0 in 2012 ($0 and $0 in 2011)	(1		)	—			(1		)	—
Total comprehensive income (loss)	(24		)	10			(5		)	54
Balance at end of period	$	602		$	638		$	602		$	638