Consolidating Financial Information (Tables)

6 Months Ended

Jun. 30, 2013

Consolidating Financial Information [Abstract]

Consolidating Balance Sheet

	Condensed Consolidating Balance Sheet
	June 30, 2013
(In millions)	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	1,153		$	65	$	1,346	$	—		$	2,564
Accounts Receivable	870			214		1,796		—			2,880
Accounts Receivable From Affiliates	—			779		—		(779		)	—
Inventories	1,260			172		1,790		(84		)	3,138
Prepaid Expenses and Other Current Assets	72			10		297		8			387
Total Current Assets	3,355			1,240		5,229		(855		)	8,969
Goodwill	—			25		497		121			643
Intangible Assets	111			1		27		—			139
Deferred Income Taxes	—			44		130		13			187
Other Assets	261			69		197		—			527
Investments in Subsidiaries	4,022			260		—		(4,282		)	—
Property, Plant and Equipment	2,246			137		4,557		(21		)	6,919
Total Assets	$	9,995		$	1,776	$	10,637	$	(5,024	)	$	17,384
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	800		$	211	$	2,202	$	—		$	3,213
Accounts Payable to Affiliates	615			—		164		(779		)	—
Compensation and Benefits	324			31		336		—			691
Other Current Liabilities	343			53		686		(15		)	1,067
Notes Payable and Overdrafts	—			—		79		—			79
Long Term Debt and Capital Leases Due Within One Year	8			—		117		—			125
Total Current Liabilities	2,090			295		3,584		(794		)	5,175
Long Term Debt and Capital Leases	4,378			—		1,947		—			6,325
Compensation and Benefits	1,951			180		1,002		—			3,133
Deferred and Other Noncurrent Income Taxes	42			11		216		(7		)	262
Other Long Term Liabilities	819			30		162		—			1,011
Total Liabilities	9,280			516		6,911		(801		)	15,906
Commitments and Contingent Liabilities
Minority Shareholders’ Equity	—			—		316		204			520
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Preferred Stock	500			—		—		—			500
Common Stock	246			319		993		(1,312		)	246
Other Equity	(31		)	941		2,174		(3,115		)	(31		)
Goodyear Shareholders’ Equity	715			1,260		3,167		(4,427		)	715
Minority Shareholders’ Equity — Nonredeemable	—			—		243		—			243
Total Shareholders’ Equity	715			1,260		3,410		(4,427		)	958
Total Liabilities and Shareholders’ Equity	$	9,995		$	1,776	$	10,637	$	(5,024	)	$	17,384

	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 June 30, 2013
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	2,072		$	677		$	3,244		$	(1,099	)	$	4,894
Cost of Goods Sold	1,710			620			2,668			(1,152		)	3,846
Selling, Administrative and General Expense	239			43			413			(4		)	691
Rationalizations	4			1			8			—			13
Interest Expense	81			8			30			(17		)	102
Other (Income) Expense	(82		)	10			(9		)	67			(14		)
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	120			(5		)	134			7			256
United States and Foreign Taxes	8			2			51			2			63
Equity in Earnings of Subsidiaries	76			(6		)	—			(70		)	—
Net Income (Loss)	188			(13		)	83			(65		)	193
Less: Minority Shareholders’ Net Income (Loss)	—			—			5			—			5
Goodyear Net Income (Loss)	188			(13		)	78			(65		)	188
Less: Preferred Stock Dividends	7			—			—			—			7
Goodyear Net Income (Loss) available to Common Shareholders	$	181		$	(13	)	$	78		$	(65	)	$	181
Comprehensive Income (Loss)	$	181		$	3		$	7		$	(8	)	$	183
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			(1		)	3			2
Goodyear Comprehensive Income (Loss)	$	181		$	3		$	8		$	(11	)	$	181

	Consolidating Statements 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		$	735		$	3,338		$	(1,097	)	$	5,150
Cost of Goods Sold	1,888			637			2,752			(1,136		)	4,141
Selling, Administrative and General Expense	230			48			421			(2		)	697
Rationalizations	14			1			11			—			26
Interest Expense	62			7			31			(17		)	83
Other (Income) Expense	(38		)	(7		)	10			72			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 (Loss)	—			—			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 Interest	—			—			(14		)	(10		)	(24		)
Goodyear Comprehensive Income (Loss)	$	84		$	59		$	(16	)	$	(43	)	$	84

	Consolidating Statements of Operations
	Six Months Ended June 30, 2013
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	4,081		$	1,348		$	6,418		$	(2,100	)	$	9,747
Cost of Goods Sold	3,445			1,208			5,336			(2,203		)	7,786
Selling, Administrative and General Expense	454			84			803			(5		)	1,336
Rationalizations	5			1			14			—			20
Interest Expense	151			15			54			(33		)	187
Other (Income) Expense	(127		)	4			98			137			112
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	153			36			113			4			306
United States and Foreign Taxes	7			34			59			(18		)	82
Equity in Earnings of Subsidiaries	75			(10		)	—			(65		)	—
Net Income (Loss)	221			(8		)	54			(43		)	224
Less: Minority Shareholders’ Net Income (Loss)	—			—			3			—			3
Goodyear Net Income (Loss)	221			(8		)	51			(43		)	221
Less: Preferred Stock Dividends	15			—			—			—			15
Goodyear Net Income (Loss) available to Common Shareholders	$	206		$	(8	)	$	51		$	(43	)	$	206
Comprehensive Income (Loss)	$	350		$	16		$	(53	)	$	24		$	337
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			(10		)	(3		)	(13		)
Goodyear Comprehensive Income (Loss)	$	350		$	16		$	(43	)	$	27		$	350

	Consolidating Statements of Operations
	Six Months Ended June 30, 2012
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Net Sales	$	4,461		$	1,492		$	7,045	$	(2,315	)	$	10,683
Cost of Goods Sold	3,939			1,331			5,887		(2,409		)	8,748
Selling, Administrative and General Expense	431			95			834		(1		)	1,359
Rationalizations	20			1			20		—			41
Interest Expense	128			11			75		(30		)	184
Other (Income) Expense	(18		)	(15		)	18		144			129
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	(39		)	69			211		(19		)	222
United States and Foreign Taxes	14			19			80		(2		)	111
Equity in Earnings of Subsidiaries	141			(5		)	—		(136		)	—
Net Income (Loss)	88			45			131		(153		)	111
Less: Minority Shareholders’ Net Income (Loss)	—			—			23		—			23
Goodyear Net Income (Loss)	88			45			108		(153		)	88
Less: Preferred Stock Dividends	15			—			—		—			15
Goodyear Net Income (Loss) available to Common Shareholders	$	73		$	45		$	108	$	(153	)	$	73
Comprehensive Income (Loss)	$	204		$	76		$	125	$	(185	)	$	220
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			20		(4		)	16
Goodyear Comprehensive Income (Loss)	$	204		$	76		$	105	$	(181	)	$	204

Consolidating Statement of Cash Flows

	Condensed Consolidating Statement of Cash Flows
	Six Months Ended June 30, 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	$	(439	)	$	(52	)	$	39		$	(10	)	$	(462	)
Cash Flows from Investing Activities:
Capital Expenditures	(128		)	(9		)	(360		)	4			(493		)
Asset Dispositions	2			—			5			—			7
Government Grants Received	—			—			4			—			4
Increase in Restricted Cash	—			—			(8		)	—			(8		)
Short Term Securities Acquired	—			—			(60		)	—			(60		)
Short Term Securities Redeemed	—			—			48			—			48
Capital Contributions and Loans Incurred	(61		)	—			(170		)	231			—
Capital Redemptions and Loans Paid	214			—			203			(417		)	—
Total Cash Flows from Investing Activities	27			(9		)	(338		)	(182		)	(502		)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	—			4			96			(71		)	29
Short Term Debt and Overdrafts Paid	(71		)	—			(51		)	71			(51		)
Long Term Debt Incurred	900			—			1,215			—			2,115
Long Term Debt Paid	(7		)	—			(632		)	—			(639		)
Common Stock Issued	5			—			—			—			5
Preferred Stock Dividends Paid	(15		)	—			—			—			(15		)
Capital Contributions and Loans Incurred	170			58			3			(231		)	—
Capital Redemptions and Loans Paid	(203		)	—			(214		)	417			—
Intercompany Dividends Paid	—			—			(6		)	6			—
Transactions with Minority Interests in Subsidiaries	—			—			(8		)	—			(8		)
Debt Related Costs and Other Transactions	(16		)	—			—			—			(16		)
Total Cash Flows from Financing Activities	763			62			403			192			1,420
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			(4		)	(169		)	—			(173		)
Net Change in Cash and Cash Equivalents	351			(3		)	(65		)	—			283
Cash and Cash Equivalents at Beginning of the Period	802			68			1,411			—			2,281
Cash and Cash Equivalents at End of the Period	$	1,153		$	65		$	1,346		$	—		$	2,564

	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	$	12		$	(21	)	$	(381	)	$	(61	)	$	(451	)
Cash Flows from Investing Activities:
Capital Expenditures	(111		)	(7		)	(374		)	2			(490		)
Asset Dispositions	1			—			8			—			9
Increase in Restricted Cash	—			—			(18		)	—			(18		)
Short Term Securities Acquired	—			—			(21		)	—			(21		)
Short Term Securities Redeemed	—			—			4			—			4
Capital Contributions and Loans Incurred	(55		)	—			(150		)	205			—
Capital Redemptions and Loans Paid	19			—			—			(19		)	—
Other Transactions	4			—			—			—			4
Total Cash Flows from Investing Activities	(142		)	(7		)	(551		)	188			(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 Incurred	150			—			55			(205		)	—
Capital Redemptions and Loans Paid	—			—			(19		)	19			—
Intercompany Dividends Paid	—			—			(59		)	59			—
Transactions with Minority Interests in Subsidiaries	(17		)	—			(10		)	—			(27		)
Debt Related Costs and Other Transactions	(63		)	—			—			—			(63		)
Total Cash Flows from Financing Activities	99			—			371			(127		)	343
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			1			3			—			4
Net Change in Cash and Cash Equivalents	(31		)	(27		)	(558		)	—			(616		)
Cash and Cash Equivalents at Beginning of the Period	916			112			1,744			—			2,772
Cash and Cash Equivalents at End of the Period	$	885		$	85		$	1,186		$	—		$	2,156