Financing Arrangements and Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2012

Financing Arrangements and Derivative Financial Instruments [Abstract]

Notes payable and overdrafts, long term debt and capital leases due with in one year and short term financing arrangements

The following table presents amounts due within one year:

	December 31,			December 31,
(In millions)	2012			2011
Notes payable and overdrafts:	$	102		$	256
Weighted average interest rate	4.29		%	5.56		%
Long term debt and capital leases due within one year:
Other domestic and international debt (including capital leases)	$	96		$	156
Weighted average interest rate	6.88		%	10.78		%
Total obligations due within one year	$	198		$	412

Long term debt and capital leases, net of unamortized discounts and interest rates

The following table presents long term debt and capital leases, net of unamortized discounts, and interest rates:

	December 31, 2012					December 31, 2011
				Interest					Interest
(In millions)	Amount			Rate		Amount			Rate
Notes:
10.5% due 2016	$	—				$	631
6.75% Euro Notes due 2019	330					324
8.25% due 2020	994					994
8.75% due 2020	266					264
7% due 2022	700					—
7% due 2028	149					149
Credit Facilities:
$2.0 billion first lien revolving credit facility due 2017	—			—		—			—
$1.2 billion second lien term loan facility due 2019	1,194			4.75	%	1,200			1.93	%
€400 million revolving credit facility due 2016	—			—		—			—
Pan-European accounts receivable facility due 2015	192			3.00	%	393			3.51	%
Chinese credit facilities	471			6.38	%	389			5.80	%
Other domestic and international debt(1)	630			8.40	%	570			10.00	%
	4,926					4,914
Capital lease obligations	58					31
	4,984					4,945
Less portion due within one year	(96		)			(156		)
	$	4,888				$	4,789

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(1) Interest rates are weighted average interest rates related to various international credit facilities with customary terms and conditions and the Global and North American Tire Headquarters financing liability described below.

Schedule of foreign exchange contracts not designated as hedging instruments statement of financial position

The following table presents fair values for foreign currency contracts not designated as hedging instruments:

	December 31,			December 31,
(In millions)	2012			2011
Fair Values — asset (liability):
Accounts receivable	$	2		$	26
Other current liabilities	(24		)	(5		)
Other long term liabilities	—			(1		)

Schedule of foreign exchange contracts designated as cash flow hedging Instruments statement of financial position

The following table presents fair values for foreign currency contracts designated as cash flow hedging instruments:

	December 31,			December 31,
(In millions)	2012			2011
Fair Values — asset (liability):
Accounts receivable	$	—		$	11
Other current liabilities	(5		)	—

Schedule of Derivative Instruments, (Gain) Loss in Statement of Financial Performance

The following table presents the classification of changes in fair values of foreign currency contracts designated as cash flow hedging instruments (before tax and minority):

	Twelve Months Ended
	December 31,
(In millions) (Income) Expense	2012			2011
Amounts deferred to AOCL	$	5		$	(5	)
Amount of deferred (gain) loss reclassified from AOCL into CGS	(14		)	10
Amounts excluded from effectiveness testing	(1		)	2