Consolidating Financial Information (Tables)

3 Months Ended

Mar. 31, 2014

Consolidating Financial Information [Abstract]

Consolidating Balance Sheet

	Condensed Consolidating Balance Sheet
	March 31, 2014
(In millions)	Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	496	$	60	$	1,297	$	—		$	1,853
Accounts Receivable	807		183		1,923		—			2,913
Accounts Receivable From Affiliates	—		829		—		(829		)	—
Inventories	1,278		174		1,625		(56		)	3,021
Prepaid Expenses and Other Current Assets	82		8		324		5			419
Total Current Assets	2,663		1,254		5,169		(880		)	8,206
Goodwill	—		24		518		126			668
Intangible Assets	110		—		27		—			137
Deferred Income Taxes	—		23		134		11			168
Other Assets	283		97		220		—			600
Investments in Subsidiaries	4,287		363		—		(4,650		)	—
Property, Plant and Equipment	2,235		134		4,969		(25		)	7,313
Total Assets	$	9,578	$	1,895	$	11,037	$	(5,418	)	$	17,092
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	871	$	220	$	2,021	$	—		$	3,112
Accounts Payable to Affiliates	705		—		124		(829		)	—
Compensation and Benefits	330		32		365		—			727
Other Current Liabilities	292		31		801		(5		)	1,119
Notes Payable and Overdrafts	—		—		26		—			26
Long Term Debt and Capital Leases Due Within One Year	7		—		40		—			47
Total Current Liabilities	2,205		283		3,377		(834		)	5,031
Long Term Debt and Capital Leases	4,476		—		2,571		—			7,047
Compensation and Benefits	485		128		763		—			1,376
Deferred and Other Noncurrent Income Taxes	66		9		190		(8		)	257
Other Long Term Liabilities	753		30		161		—			944
Total Liabilities	7,985		450		7,062		(842		)	14,655
Commitments and Contingent Liabilities
Minority Shareholders’ Equity	—		—		384		216			600
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Preferred Stock	500		—		—		—			500
Common Stock	248		317		992		(1,309		)	248
Other Equity	845		1,128		2,355		(3,483		)	845
Goodyear Shareholders’ Equity	1,593		1,445		3,347		(4,792		)	1,593
Minority Shareholders’ Equity — Nonredeemable	—		—		244		—			244
Total Shareholders’ Equity	1,593		1,445		3,591		(4,792		)	1,837
Total Liabilities and Shareholders’ Equity	$	9,578	$	1,895	$	11,037	$	(5,418	)	$	17,092

	Condensed Consolidating Balance Sheet
	December 31, 2013
(In millions)	Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	1,269	$	94	$	1,633	$	—		$	2,996
Accounts Receivable	872		203		1,360		—			2,435
Accounts Receivable From Affiliates	—		765		—		(765		)	—
Inventories	1,099		155		1,599		(37		)	2,816
Prepaid Expenses and Other Current Assets	68		10		315		4			397
Total Current Assets	3,308		1,227		4,907		(798		)	8,644
Goodwill	—		24		517		127			668
Intangible Assets	111		—		27		—			138
Deferred Income Taxes	—		24		121		12			157
Other Assets	288		101		211		—			600
Investments in Subsidiaries	4,325		354		—		(4,679		)	—
Property, Plant and Equipment	2,242		140		4,964		(26		)	7,320
Total Assets	$	10,274	$	1,870	$	10,747	$	(5,364	)	$	17,527
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	833	$	210	$	2,054	$	—		$	3,097
Accounts Payable to Affiliates	275		—		490		(765		)	—
Compensation and Benefits	373		33		352		—			758
Other Current Liabilities	347		34		713		(11		)	1,083
Notes Payable and Overdrafts	—		—		14		—			14
Long Term Debt and Capital Leases Due Within One Year	8		—		65		—			73
Total Current Liabilities	1,836		277		3,688		(776		)	5,025
Long Term Debt and Capital Leases	4,377		—		1,785		—			6,162
Compensation and Benefits	1,613		129		931		—			2,673
Deferred and Other Noncurrent Income Taxes	65		11		188		(8		)	256
Other Long Term Liabilities	777		32		157		—			966
Total Liabilities	8,668		449		6,749		(784		)	15,082
Commitments and Contingent Liabilities
Minority Shareholders’ Equity	—		—		361		216			577
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Preferred Stock	500		—		—		—			500
Common Stock	248		317		993		(1,310		)	248
Other Equity	858		1,104		2,382		(3,486		)	858
Goodyear Shareholders’ Equity	1,606		1,421		3,375		(4,796		)	1,606
Minority Shareholders’ Equity — Nonredeemable	—		—		262		—			262
Total Shareholders’ Equity	1,606		1,421		3,637		(4,796		)	1,868
Total Liabilities and Shareholders’ Equity	$	10,274	$	1,870	$	10,747	$	(5,364	)	$	17,527

Consolidating Statement of Operations

	Consolidating Statements of Operations
	Three Months Ended March 31, 2014
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	1,875		$	601		$	3,159		$	(1,166	)	$	4,469
Cost of Goods Sold	1,558			548			2,582			(1,170		)	3,518
Selling, Administrative and General Expense	224			40			406			(3		)	667
Rationalizations	(1		)	—			42			—			41
Interest Expense	82			7			31			(15		)	105
Other (Income) Expense	(12		)	(4		)	138			46			168
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	24			10			(40		)	(24		)	(30		)
United States and Foreign Taxes	2			3			3			—			8
Equity in Earnings of Subsidiaries	(73		)	6			—			67			—
Net Income (Loss)	(51		)	13			(43		)	43			(38		)
Less: Minority Shareholders’ Net Income (Loss)	—			—			13			—			13
Goodyear Net Income (Loss)	(51		)	13			(56		)	43			(51		)
Less: Preferred Stock Dividends	7			—			—			—			7
Goodyear Net Income (Loss) available to Common Shareholders	$	(58	)	$	13		$	(56	)	$	43		$	(58	)
Comprehensive Income (Loss)	$	14		$	25		$	30		$	(26	)	$	43
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			29			—			29
Goodyear Comprehensive Income (Loss)	$	14		$	25		$	1		$	(26	)	$	14

	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 Income (Loss) Attributable to Minority Shareholders	—			—			(9		)	(6		)	(15		)
Goodyear Comprehensive Income (Loss)	$	169		$	13		$	(51	)	$	38		$	169

Consolidating Statement of Cash Flows

	Condensed Consolidating Statement of Cash Flows
	Three Months Ended March 31, 2014
(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	$	(1,132	)	$	(36	)	$	(349	)	$	(26	)	$	(1,543	)
Cash Flows from Investing Activities:
Capital Expenditures	(86		)	(5		)	(139		)	1			(229		)
Asset Dispositions	—			—			2			—			2
Government Grants Received	—			—			1			—			1
Decrease in Restricted Cash	—			—			4			—			4
Short Term Securities Acquired	—			—			(25		)	—			(25		)
Short Term Securities Redeemed	—			—			35			—			35
Capital Contributions and Loans Incurred	(187		)	—			(452		)	639			—
Capital Redemptions and Loans Paid	364			—			209			(573		)	—
Other Transactions	1			—			—			—			1
Total Cash Flows from Investing Activities	92			(5		)	(365		)	67			(211		)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	—			9			51			(47		)	13
Short Term Debt and Overdrafts Paid	(47		)	—			—			47			—
Long Term Debt Incurred	300			—			804			—			1,104
Long Term Debt Paid	(202		)	—			(70		)	—			(272		)
Common Stock Issued	24			—			—			—			24
Common Stock Repurchased	(32		)	—			—			—			(32		)
Common Stock Dividends Paid	(12		)	—			—			—			(12		)
Preferred Stock Dividends Paid	(7		)	—			—			—			(7		)
Capital Contributions and Loans Incurred	452			—			187			(639		)	—
Capital Redemptions and Loans Paid	(209		)	—			(364		)	573			—
Intercompany Dividends Paid	—			—			(25		)	25			—
Transactions with Minority Interests in Subsidiaries	—			—			(23		)	—			(23		)
Total Cash Flows from Financing Activities	267			9			560			(41		)	795
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			(2		)	(182		)	—			(184		)
Net Change in Cash and Cash Equivalents	(773		)	(34		)	(336		)	—			(1,143		)
Cash and Cash Equivalents at Beginning of the Period	1,269			94			1,633			—			2,996
Cash and Cash Equivalents at End of the Period	$	496		$	60		$	1,297		$	—		$	1,853

	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		)
Short Term Securities Acquired	—			—			(20		)	—			(20		)
Short Term Securities Redeemed	—			—			22			—			22
Capital Contributions and Loans Incurred	—			—			(170		)	170			—
Capital Redemptions and Loans Paid	208			—			203			(411		)	—
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