Consolidating Financial Information (Tables)

3 Months Ended

Mar. 31, 2013

Consolidating Financial Information [Abstract]

Consolidating Balance Sheet

	Condensed Consolidating Balance Sheet
	March 31, 2013
(In millions)	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	1,084		$	67	$	1,235	$	—		$	2,386
Accounts Receivable	903			213		1,905		—			3,021
Accounts Receivable From Affiliates	—			780		—		(780		)	—
Inventories	1,231			180		1,846		(89		)	3,168
Prepaid Expenses and Other Current Assets	72			10		376		9			467
Total Current Assets	3,290			1,250		5,362		(860		)	9,042
Goodwill	—			25		501		121			647
Intangible Assets	110			1		28		—			139
Deferred Income Taxes	—			47		133		15			195
Other Assets	268			66		200		—			534
Investments in Subsidiaries	4,026			271		—		(4,297		)	—
Property, Plant and Equipment	2,246			143		4,534		(22		)	6,901
Total Assets	$	9,940		$	1,803	$	10,758	$	(5,043	)	$	17,458
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	795		$	223	$	2,200	$	—		$	3,218
Accounts Payable to Affiliates	675			—		105		(780		)	—
Compensation and Benefits	350			31		306		—			687
Other Current Liabilities	316			54		798		(12		)	1,156
Notes Payable and Overdrafts	—			—		107		—			107
Long Term Debt and Capital Leases Due Within One Year	9			—		158		—			167
Total Current Liabilities	2,145			308		3,674		(792		)	5,335
Long Term Debt and Capital Leases	4,370			—		1,937		—			6,307
Compensation and Benefits	2,029			189		1,021		—			3,239
Deferred and Other Noncurrent Income Taxes	41			11		217		(8		)	261
Other Long Term Liabilities	819			32		163		—			1,014
Total Liabilities	9,404			540		7,012		(800		)	16,156
Commitments and Contingent Liabilities
Minority Shareholders’ Equity	—			—		314		201			515
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Preferred Stock	500			—		—		—			500
Common Stock	246			319		995		(1,314		)	246
Other Equity	(210		)	944		2,186		(3,130		)	(210		)
Goodyear Shareholders’ Equity	536			1,263		3,181		(4,444		)	536
Minority Shareholders’ Equity — Nonredeemable	—			—		251		—			251
Total Shareholders’ Equity	536			1,263		3,432		(4,444		)	787
Total Liabilities and Shareholders’ Equity	$	9,940		$	1,803	$	10,758	$	(5,043	)	$	17,458

	Condensed Consolidating Balance Sheet
	December 31, 2012
(In millions)	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	802		$	68	$	1,411	$	—		$	2,281
Accounts Receivable	905			212		1,446		—			2,563
Accounts Receivable From Affiliates	—			668		—		(668		)	—
Inventories	1,263			176		1,893		(82		)	3,250
Prepaid Expenses and Other Current Assets	64			10		321		9			404
Total Current Assets	3,034			1,134		5,071		(741		)	8,498
Goodwill	—			25		516		123			664
Intangible Assets	110			1		29		—			140
Deferred Income Taxes	—			56		130		—			186
Other Assets	240			61		228		—			529
Investments in Subsidiaries	3,986			299		—		(4,285		)	—
Property, Plant and Equipment	2,260			151		4,565		(20		)	6,956
Total Assets	$	9,630		$	1,727	$	10,539	$	(4,923	)	$	16,973
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	779		$	214	$	2,230	$	—		$	3,223
Accounts Payable to Affiliates	485			—		183		(668		)	—
Compensation and Benefits	384			31		304		—			719
Other Current Liabilities	350			32		808		(8		)	1,182
Notes Payable and Overdrafts	—			—		102		—			102
Long Term Debt and Capital Leases Due Within One Year	9			—		87		—			96
Total Current Liabilities	2,007			277		3,714		(676		)	5,322
Long Term Debt and Capital Leases	3,462			—		1,426		—			4,888
Compensation and Benefits	2,941			195		1,204		—			4,340
Deferred and Other Noncurrent Income Taxes	41			6		219		(2		)	264
Other Long Term Liabilities	809			32		159		—			1,000
Total Liabilities	9,260			510		6,722		(678		)	15,814
Commitments and Contingent Liabilities
Minority Shareholders’ Equity	—			—		327		207			534
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Preferred Stock	500			—		—		—			500
Common Stock	245			339		993		(1,332		)	245
Other Equity	(375		)	878		2,242		(3,120		)	(375		)
Goodyear Shareholders’ Equity	370			1,217		3,235		(4,452		)	370
Minority Shareholders’ Equity — Nonredeemable	—			—		255		—			255
Total Shareholders’ Equity	370			1,217		3,490		(4,452		)	625
Total Liabilities and Shareholders’ Equity	$	9,630		$	1,727	$	10,539	$	(4,923	)	$	16,973

Consolidating Statement of Operations

	Consolidating Statements of Operations
	Three Months Ended March 31, 2013
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	2,009		$	671		$	3,174		$	(1,001	)	$	4,853
Cost of Goods Sold	1,735			588			2,668			(1,051		)	3,940
Selling, Administrative and General Expense	215			41			390			(1		)	645
Rationalizations	1			—			6			—			7
Interest Expense	70			7			24			(16		)	85
Other (Income) Expense	(45		)	(6		)	107			70			126
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	33			41			(21		)	(3		)	50
United States and Foreign Taxes	(1		)	32			8			(20		)	19
Equity in Earnings of Subsidiaries	(1		)	(4		)	—			5			—
Net Income (Loss)	33			5			(29		)	22			31
Less: Minority Shareholders’ Net Income (Loss)	—			—			(2		)	—			(2		)
Goodyear Net Income (Loss)	33			5			(27		)	22			33
Less: Preferred Stock Dividends	7			—			—			—			7
Goodyear Net Income (Loss) available to Common Shareholders	$	26		$	5		$	(27	)	$	22		$	26
Comprehensive Income (Loss)	$	169		$	13		$	(60	)	$	32		$	154
Less: Comprehensive Loss Attributable to Minority Shareholders	—			—			(9		)	(6		)	(15		)
Goodyear Comprehensive Income (Loss)	$	169		$	13		$	(51	)	$	38		$	169

	Consolidating Statements 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		$	757		$	3,707	$	(1,218	)	$	5,533
Cost of Goods Sold	2,051			694			3,135		(1,273		)	4,607
Selling, Administrative and General Expense	201			47			413		1			662
Rationalizations	6			—			9		—			15
Interest Expense	66			4			44		(13		)	101
Other (Income) Expense	20			(8		)	8		72			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 (Loss)	—			—			12		—			12
Goodyear Net Income (Loss)	(4		)	10			56		(66		)	(4		)
Less: Preferred Stock Dividends	7			—			—		—			7
Goodyear Net Income (Loss) available to Common Shareholders	$	(11	)	$	10		$	56	$	(66	)	$	(11	)
Comprehensive Income (Loss)	$	120		$	17		$	155	$	(132	)	$	160
Less: Comprehensive Income Attributable to Minority Shareholders	—			—			34		6			40
Goodyear Comprehensive Income (Loss)	$	120		$	17		$	121	$	(138	)	$	120

Consolidating Statement of Cash Flows

	Condensed Consolidating Statement of Cash Flows
	Three Months Ended March 31, 2013
(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	$	(597	)	$	(2	)	$	(334	)	$	(4	)	$	(937	)
Cash Flows from Investing Activities:
Capital expenditures	(75		)	(5		)	(192		)	1			(271		)
Asset dispositions	—			—			5			—			5
Government grants received	—			—			4			—			4
Increase in restricted cash	—			—			(23		)	—			(23		)
Capital contributions and loans incurred	—			—			(170		)	170			—
Capital redemptions and loans paid	208			—			203			(411		)	—
Other transactions	—			—			2			—			2
Total Cash Flows from Investing Activities	133			(5		)	(171		)	(240		)	(283		)
Cash Flows from Financing Activities:
Short term debt and overdrafts incurred	—			8			118			(96		)	30
Short term debt and overdrafts paid	(96		)	—			(24		)	96			(24		)
Long term debt incurred	900			—			658			—			1,558
Long term debt paid	(5		)	—			(73		)	—			(78		)
Common stock issued	2			—			—			—			2
Preferred stock dividends paid	(7		)	—			—			—			(7		)
Capital contributions and loans incurred	170			—			—			(170		)	—
Capital redemptions and loans paid	(203		)	—			(208		)	411			—
Intercompany dividends paid	—			—			(3		)	3			—
Transactions with minority interests in subsidiaries	—			—			(4		)	—			(4		)
Debt related costs and other transactions	(15		)	—			—			—			(15		)
Total Cash Flows from Financing Activities	746			8			464			244			1,462
Effect of exchange rate changes on cash and cash equivalents	—			(2		)	(135		)	—			(137		)
Net Change in Cash and Cash Equivalents	282			(1		)	(176		)	—			105
Cash and Cash Equivalents at Beginning of the Period	802			68			1,411			—			2,281
Cash and Cash Equivalents at End of the Period	$	1,084		$	67		$	1,235		$	—		$	2,386

	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	$	(209	)	$	(18	)	$	(523	)	$	(4	)	$	(754	)
Cash Flows from Investing Activities:
Capital expenditures	(73		)	(5		)	(198		)	—			(276		)
Increase in restricted cash	(1		)	—			(20		)	—			(21		)
Capital contributions and loans incurred	(30		)	—			(50		)	80			—
Capital redemptions and loans paid	19			—			—			(19		)	—
Other transactions	4			—			(2		)	—			2
Total Cash Flows from Investing Activities	(81		)	(5		)	(270		)	61			(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 incurred	50			—			30			(80		)	—
Capital redemptions and loans paid	—			—			(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	76			—			307			(57		)	326
Effect of exchange rate changes on cash and cash equivalents	—			1			33			—			34
Net Change in Cash and Cash Equivalents	(214		)	(22		)	(453		)	—			(689		)
Cash and Cash Equivalents at Beginning of the Period	916			112			1,744			—			2,772
Cash and Cash Equivalents at End of the Period	$	702		$	90		$	1,291		$	—		$	2,083