Consolidating Financial Information (Tables)

9 Months Ended

Sep. 30, 2012

Consolidating Financial Information [Abstract]

Consolidating Balance Sheet

	Consolidating Balance Sheet
	September 30, 2012
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	944		$	105		$	1,208		$	—		$	2,257
Accounts Receivable	902			291			2,362			—			3,555
Accounts Receivable From Affiliates	—			539			247			(786		)	—
Inventories	1,418			202			2,056			(80		)	3,596
Prepaid Expenses and Other Current Assets	68			10			311			8			397
Total Current Assets	3,332			1,147			6,184			(858		)	9,805
Goodwill	—			25			456			174			655
Intangible Assets	110			1			43			—			154
Deferred Income Taxes	—			67			78			—			145
Other Assets	239			50			233			—			522
Investments in Subsidiaries	4,346			352			4,414			(9,112		)	—
Property, Plant and Equipment	2,185			155			4,337			(19		)	6,658
Total Assets	$	10,212		$	1,797		$	15,745		$	(9,815	)	$	17,939
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	808		$	186		$	2,152		$	—		$	3,146
Accounts Payable to Affiliates	786			—			—			(786		)	—
Compensation and Benefits	378			33			365			—			776
Other Current Liabilities	352			45			808			(12		)	1,193
Notes Payable and Overdrafts	—			—			163			—			163
Long Term Debt and Capital Leases Due Within One Year	8			—			102			—			110
Total Current Liabilities	2,332			264			3,590			(798		)	5,388
Long Term Debt and Capital Leases	3,422			—			2,286			—			5,708
Compensation and Benefits	2,386			235			833			—			3,454
Deferred and Other Noncurrent Income Taxes	35			6			224			(2		)	263
Other Long Term Liabilities	807			33			160			—			1,000
Total Liabilities	8,982			538			7,093			(800		)	15,813
Commitments and Contingent Liabilities
Minority Shareholders’ Equity	—			—			416			202			618
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Preferred Stock	500			—			—			—			500
Common Stock	245			338			5,099			(5,437		)	245
Capital Surplus	2,817			49			1,099			(1,148		)	2,817
Retained Earnings	1,370			1,368			2,965			(4,333		)	1,370
Accumulated Other Comprehensive Loss	(3,702		)	(496		)	(1,205		)	1,701			(3,702		)
Goodyear Shareholders’ Equity	1,230			1,259			7,958			(9,217		)	1,230
Minority Shareholders’ Equity — Nonredeemable	—			—			278			—			278
Total Shareholders’ Equity	1,230			1,259			8,236			(9,217		)	1,508
Total Liabilities and Shareholders’ Equity	$	10,212		$	1,797		$	15,745		$	(9,815	)	$	17,939

	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		$	112		$	1,744		$	—		$	2,772
Accounts Receivable	984			217			1,648			—			2,849
Accounts Receivable From Affiliates	—			513			203			(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			1,078			5,992			(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			166			4,040			40			6,375
Total Assets	$	10,064		$	1,740		$	15,179		$	(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			35			687			(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			265			3,955			(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			6			198			8			244
Other Long Term Liabilities	778			32			231			—			1,041
Total Liabilities	9,315			597			6,817			(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			339			5,027			(5,366		)	245
Capital Surplus	2,808			39			1,065			(1,104		)	2,808
Retained Earnings	1,187			1,306			2,847			(4,153		)	1,187
Accumulated Other Comprehensive Loss	(3,991		)	(541		)	(1,249		)	1,790			(3,991		)
Goodyear Shareholders’ Equity	749			1,143			7,690			(8,833		)	749
Minority Shareholders’ Equity — Nonredeemable	—			—			268			—			268
Total Shareholders’ Equity	749			1,143			7,958			(8,833		)	1,017
Total Liabilities and Shareholders’ Equity	$	10,064		$	1,740		$	15,179		$	(9,354	)	$	17,629

Consolidating Statement of Operations

	Consolidating Income Statements
	Three Months Ended September 30, 2012
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	2,304		$	780		$	5,591		$	(3,411	)	$	5,264
Cost of Goods Sold	2,038			712			5,038			(3,473		)	4,315
Selling, Administrative and General Expense	217			44			395			(4		)	652
Rationalizations	3			5			18			—			26
Interest Expense	65			8			68			(55		)	86
Other (Income) Expense	(63		)	(5		)	(41		)	108			(1		)
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	44			16			113			13			186
United States and Foreign Taxes	2			5			42			4			53
Equity in Earnings of Subsidiaries	75			6			—			(81		)	—
Net Income (Loss)	117			17			71			(72		)	133
Less: Minority Shareholders’ Net Income	—			—			16			—			16
Goodyear Net Income (Loss)	117			17			55			(72		)	117
Less: Preferred Stock Dividends	7			—			—			—			7
Goodyear Net Income (Loss) available to Common Shareholders	$	110		$	17		$	55		$	(72	)	$	110
Comprehensive Income (Loss)	$	284		$	32		$	134		$	(130	)	$	320
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			33			3			36
Goodyear Comprehensive Income (Loss)	$	284		$	32		$	101		$	(133	)	$	284

	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			50			420			(3		)	677
Rationalizations	19			—			6			—			25
Interest Expense	59			5			73			(51		)	86
Other (Income) Expense	(80		)	(1		)	(55		)	132			(4		)
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	(8		)	38			281			(6		)	305
United States and Foreign Taxes	30			—			65			(1		)	94
Equity in Earnings of Subsidiaries	206			22			—			(228		)	—
Net Income (Loss)	168			60			216			(233		)	211
Less: Minority Shareholders’ Net Income	—			—			43			—			43
Goodyear Net Income (Loss)	168			60			173			(233		)	168
Less: Preferred Stock Dividends	7			—			—			—			7
Goodyear Net Income (Loss) available to Common Shareholders	$	161		$	60		$	173		$	(233	)	$	161
Comprehensive Income (Loss)	$	28		$	77		$	1		$	(97	)	$	9
Less: Comprehensive Income (Loss) Attributable to Minority Interest	—			—			(3		)	(16		)	(19		)
Goodyear Comprehensive Income (Loss)	$	28		$	77		$	4		$	(81	)	$	28

	Consolidating Income Statements
	Nine Months Ended September 30, 2012
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	6,765		$	2,272		$	17,293		$	(10,383	)	$	15,947
Cost of Goods Sold	5,977			2,043			15,582			(10,539		)	13,063
Selling, Administrative and General Expense	648			139			1,229			(5		)	2,011
Rationalizations	23			6			38			—			67
Interest Expense	193			19			218			(160		)	270
Other (Income) Expense	(81		)	(20		)	(98		)	327			128
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	5			85			324			(6		)	408
United States and Foreign Taxes	16			24			122			2			164
Equity in Earnings of Subsidiaries	216			1			—			(217		)	—
Net Income (Loss)	205			62			202			(225		)	244
Less: Minority Shareholders’ Net Income	—			—			39			—			39
Goodyear Net Income (Loss)	205			62			163			(225		)	205
Less: Preferred Stock Dividends	22			—			—			—			22
Goodyear Net Income (Loss) available to Common Shareholders	$	183		$	62		$	163		$	(225	)	$	183
Comprehensive Income (Loss)	$	488		$	107		$	260		$	(315	)	$	540
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			53			(1		)	52
Goodyear Comprehensive Income (Loss)	$	488		$	107		$	207		$	(314	)	$	488

	Consolidating Income Statements
	Nine Months Ended September 30, 2011
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	6,845		$	2,149		$	19,926		$	(11,836	)	$	17,084
Cost of Goods Sold	6,174			1,903			17,927			(11,998		)	14,006
Selling, Administrative and General Expense	674			139			1,292			(7		)	2,098
Rationalizations	56			3			21			—			80
Interest Expense	186			15			168			(128		)	241
Other (Income) Expense	(174		)	(13		)	(94		)	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
Comprehensive Income (Loss)	$	369		$	158		$	345		$	(443	)	$	429
Less: Comprehensive Income Attributable to Minority Shareholders	—			—			59			1			60
Goodyear Comprehensive Income (Loss)	$	369		$	158		$	286		$	(444	)	$	369

Consolidating Statement of Cash Flows

	Condensed Consolidating Statement of Cash Flows
	Nine Months Ended September 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	$	219		$	—		$	(283	)	$	(265	)	$	(329	)
Cash Flows from Investing Activities:
Capital expenditures	(165		)	(10		)	(618		)	5			(788		)
Asset dispositions	5			—			9			—			14
Government grants received	—			—			2			—			2
Capital contributions and loans	(55		)	—			(48		)	103			—
Capital redemptions and loans	81			—			—			(81		)	—
Increase in restricted cash	(1		)	—			(16		)	—			(17		)
Other transactions	4			—			(15		)	—			(11		)
Total Cash Flows from Investing Activities	(131		)	(10		)	(686		)	27			(800		)
Cash Flows from Financing Activities:
Short term debt and overdrafts incurred	—			—			74			—			74
Short term debt and overdrafts paid	—			—			(89		)	—			(89		)
Long term debt incurred	800			—			2,242			—			3,042
Long term debt paid	(759		)	—			(1,563		)	—			(2,322		)
Common stock issued	1			—			—			—			1
Preferred stock dividends paid	(22		)	—			—			—			(22		)
Capital contributions and loans	—			—			103			(103		)	—
Capital redemptions and loans	—			—			(81		)	81			—
Intercompany dividends paid	—			—			(260		)	260			—
Transactions with minority interests in subsidiaries	(17		)	—			(6		)	—			(23		)
Debt related costs and other transactions	(63		)	—			—			—			(63		)
Total Cash Flows from Financing Activities	(60		)	—			420			238			598
Effect of exchange rate changes on cash and cash equivalents	—			3			13			—			16
Net Change in Cash and Cash Equivalents	28			(7		)	(536		)	—			(515		)
Cash and Cash Equivalents at Beginning of the Period	916			112			1,744			—			2,772
Cash and Cash Equivalents at End of the Period	$	944		$	105		$	1,208		$	—		$	2,257

	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	)	$	47		$	(324	)	$	(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 and loans	—			—			11			(11		)	—
Intercompany dividends paid	—			—			(240		)	240			—
Transactions with minority interests in subsidiaries	—			—			(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		)	25			312			—			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		$	63		$	1,487		$	—		$	2,126