Consolidating Financial Information (Tables)

6 Months Ended

Jun. 30, 2012

Consolidating Financial Information [Abstract]



	Consolidating Balance Sheet
	June 30, 2012
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	885		$	85		$	1,186		$	—		$	2,156
Accounts Receivable	979			236			1,959			—			3,174
Accounts Receivable From Affiliates	—			591			272			(863		)	—
Inventories	1,609			225			2,200			(94		)	3,940
Prepaid Expenses and Other Current Assets	64			8			298			9			379
Total Current Assets	3,537			1,145			5,915			(948		)	9,649
Goodwill	—			25			449			170			644
Intangible Assets	110			1			43			—			154
Deferred Income Taxes	—			72			66			—			138
Other Assets	240			48			229			—			517
Investments in Subsidiaries	4,194			340			4,403			(8,937		)	—
Property, Plant and Equipment	2,171			154			4,134			40			6,499
Total Assets	$	10,252		$	1,785		$	15,239		$	(9,675	)	$	17,601
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	851		$	192		$	2,281		$	—		$	3,324
Accounts Payable to Affiliates	863			—			—			(863		)	—
Compensation and Benefits	355			31			334			(1		)	719
Other Current Liabilities	360			47			710			(15		)	1,102
Notes Payable and Overdrafts	—			—			168			—			168
Long Term Debt and Capital Leases Due Within One Year	9			—			98			—			107
Total Current Liabilities	2,438			270			3,591			(879		)	5,420
Long Term Debt and Capital Leases	3,393			—			2,002			—			5,395
Compensation and Benefits	2,633			251			848			—			3,732
Deferred and Other Noncurrent Income Taxes	34			6			206			(2		)	244
Other Long Term Liabilities	807			31			160			—			998
Total Liabilities	9,305			558			6,807			(881		)	15,789
Commitments and Contingent Liabilities
Minority Shareholders’ Equity	—			—			403			199			602
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Preferred Stock	500			—			—			—			500
Common Stock	245			339			5,072			(5,411		)	245
Capital Surplus	2,812			47			1,063			(1,110		)	2,812
Retained Earnings	1,260			1,351			2,883			(4,234		)	1,260
Accumulated Other Comprehensive Loss	(3,870		)	(510		)	(1,252		)	1,762			(3,870		)
Goodyear Shareholders’ Equity	947			1,227			7,766			(8,993		)	947
Minority Shareholders’ Equity — Nonredeemable	—			—			263			—			263
Total Shareholders’ Equity	947			1,227			8,029			(8,993		)	1,210
Total Liabilities and Shareholders’ Equity	$	10,252		$	1,785		$	15,239		$	(9,675	)	$	17,601



	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 June 30, 2012
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	2,174		$	736		$	5,397		$	(3,157	)	$	5,150
Cost of Goods Sold	1,888			639			4,810			(3,196		)	4,141
Selling, Administrative and General Expense	230			48			421			(2		)	697
Rationalizations	14			1			11			—			26
Interest Expense	62			7			69			(55		)	83
Other (Income) and Expense	(38		)	(8		)	(27		)	110			37
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	18			49			113			(14		)	166
United States and Foreign Taxes	5			12			50			(4		)	63
Equity in Earnings of Subsidiaries	79			(2		)	—			(77		)	—
Net Income (Loss)	92			35			63			(87		)	103
Less: Minority Shareholders’ Net Income	—			—			11			—			11
Goodyear Net Income (Loss)	92			35			52			(87		)	92
Less: Preferred Stock Dividends	7			—			—			—			7
Goodyear Net Income (Loss) available to Common Shareholders	$	85		$	35		$	52		$	(87	)	$	85
Comprehensive Income (Loss)	$	84		$	59		$	(30	)	$	(53	)	$	60
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			(14		)	(10		)	(24		)
Goodyear Comprehensive Income (Loss)	$	84		$	59		$	(16	)	$	(43	)	$	84



	Three Months Ended June 30, 2011
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	2,255		$	705		$	6,512		$	(3,852	)	$	5,620
Cost of Goods Sold	1,988			618			5,872			(3,906		)	4,572
Selling, Administrative and General Expense	248			45			462			(2		)	753
Rationalizations	33			1			12			—			46
Interest Expense	63			5			55			(42		)	81
Other (Income) and Expense	(30		)	(9		)	(20		)	107			48
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	(47		)	45			131			(9		)	120
United States and Foreign Taxes	2			4			60			(2		)	64
Equity in Earnings of Subsidiaries	96			4			—			(100		)	—
Net Income (Loss)	47			45			71			(107		)	56
Less: Minority Shareholders’ Net Income	—			—			9			—			9
Goodyear Net Income (Loss)	47			45			62			(107		)	47
Less: Preferred Stock Dividends	7			—			—			—			7
Goodyear Net Income (Loss) available to Common Shareholders	$	40		$	45		$	62		$	(107	)	$	40
Comprehensive Income (Loss)	$	149		$	54		$	125		$	(159	)	$	169
Less: Comprehensive Income (Loss) Attributable to Minority Interest	—			—			15			5			20
Goodyear Comprehensive Income (Loss)	$	149		$	54		$	110		$	(164	)	$	149

Consolidating Statement of Cash Flows



	Condensed Consolidating Statement of Cash Flows
	Six Months Ended June 30, 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	$	162		$	(17	)	$	(447	)	$	(149	)	$	(451	)
Cash Flows from Investing Activities:
Capital expenditures	(111		)	(7		)	(374		)	2			(490		)
Asset dispositions	1			—			8			—			9
Capital contributions	—			—			(38		)	38			—
Increase in restricted cash	—			—			(18		)	—			(18		)
Other transactions	4			—			(17		)	—			(13		)
Total Cash Flows from Investing Activities	(106		)	(7		)	(439		)	40			(512		)
Cash Flows from Financing Activities:
Short term debt and overdrafts incurred	—			—			34			—			34
Short term debt and overdrafts paid	—			—			(42		)	—			(42		)
Long term debt incurred	800			—			1,466			—			2,266
Long term debt paid	(756		)	—			(1,054		)	—			(1,810		)
Preferred stock dividends paid	(15		)	—			—			—			(15		)
Capital contributions and loans	(55		)	—			93			(38		)	—
Capital redemptions and loans	19			—			(19		)	—			—
Intercompany dividends paid	—			—			(147		)	147			—
Transactions with minority interests in subsidiaries	(17		)	—			(10		)	—			(27		)
Debt related costs and other transactions	(63		)	—			—			—			(63		)
Total Cash Flows from Financing Activities	(87		)	—			321			109			343
Effect of exchange rate changes on cash and cash equivalents	—			1			3			—			4
Net Change in Cash and Cash Equivalents	(31		)	(23		)	(562		)	—			(616		)
Cash and Cash Equivalents at Beginning of the Period	916			108			1,748			—			2,772
Cash and Cash Equivalents at End of the Period	$	885		$	85		$	1,186		$	—		$	2,156



	Condensed Consolidating Statement of Cash Flows
	Six Months Ended June 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	$	(337	)	$	15		$	(233	)	$	(114	)	$	(669	)
Cash Flows from Investing Activities:
Capital expenditures	(118		)	(13		)	(401		)	—			(532		)
Asset dispositions	98			—			2			—			100
Increase in restricted cash	—			—			(51		)	—			(51		)
Total Cash Flows from Investing Activities	(20		)	(13		)	(450		)	—			(483		)
Cash Flows from Financing Activities:
Short term debt and overdrafts incurred	—			—			64			—			64
Short term debt and overdrafts paid	(6		)	(2		)	(46		)	—			(54		)
Long term debt incurred	—			—			1,890			—			1,890
Long term debt paid	(350		)	—			(1,082		)	—			(1,432		)
Proceeds from issuance of preferred stock	485			—			—			—			485
Common stock issued	7			—			—			—			7
Intercompany dividends paid	—			—			(114		)	114			—
Transactions with minority interests in subsidiaries	—			—			(14		)	—			(14		)
Debt related costs and other transactions	(2		)	—			(17		)	—			(19		)
Total Cash Flows from Financing Activities	134			(2		)	681			114			927
Effect of exchange rate changes on cash and cash equivalents	—			1			23			—			24
Net Change in Cash and Cash Equivalents	(223		)	1			21			—			(201		)
Cash and Cash Equivalents at Beginning of the Period	792			38			1,175			—			2,005
Cash and Cash Equivalents at End of the Period	$	569		$	39		$	1,196		$	—		$	1,804