Consolidating Financial Information (Tables)

6 Months Ended

Jun. 30, 2014

Consolidating Financial Information [Abstract]

Consolidating Balance Sheet

	Condensed Consolidating Balance Sheet
	June 30, 2014
(In millions)	Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	326	$	77	$	1,234	$	—		$	1,637
Accounts Receivable	856		206		1,779		—			2,841
Accounts Receivable From Affiliates	—		774		—		(774		)	—
Inventories	1,336		171		1,677		(54		)	3,130
Prepaid Expenses and Other Current Assets	86		10		328		6			430
Total Current Assets	2,604		1,238		5,018		(822		)	8,038
Goodwill	—		24		515		124			663
Intangible Assets	110		1		26		—			137
Deferred Income Taxes	—		21		100		10			131
Other Assets	282		103		263		—			648
Investments in Subsidiaries	4,426		403		—		(4,829		)	—
Property, Plant and Equipment	2,236		134		4,982		(27		)	7,325
Total Assets	$	9,658	$	1,924	$	10,904	$	(5,544	)	$	16,942
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	896	$	214	$	1,987	$	—		$	3,097
Accounts Payable to Affiliates	592		—		182		(774		)	—
Compensation and Benefits	356		33		374		—			763
Other Current Liabilities	310		38		736		(4		)	1,080
Notes Payable and Overdrafts	—		—		7		—			7
Long Term Debt and Capital Leases Due Within One Year	7		—		71		—			78
Total Current Liabilities	2,161		285		3,357		(778		)	5,025
Long Term Debt and Capital Leases	4,376		—		2,301		—			6,677
Compensation and Benefits	486		121		762		—			1,369
Deferred and Other Noncurrent Income Taxes	66		9		188		(8		)	255
Other Long Term Liabilities	744		31		159		—			934
Total Liabilities	7,833		446		6,767		(786		)	14,260
Commitments and Contingent Liabilities
Minority Shareholders’ Equity	—		—		399		214			613
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Common Stock	275		—		—		—			275
Other Equity	1,550		1,478		3,494		(4,972		)	1,550
Goodyear Shareholders’ Equity	1,825		1,478		3,494		(4,972		)	1,825
Minority Shareholders’ Equity — Nonredeemable	—		—		244		—			244
Total Shareholders’ Equity	1,825		1,478		3,738		(4,972		)	2,069
Total Liabilities and Shareholders’ Equity	$	9,658	$	1,924	$	10,904	$	(5,544	)	$	16,942

	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	—		733		—		(733		)	—
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		1,195		4,907		(766		)	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		386		—		(4,711		)	—
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		—		458		(733		)	—
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		3,656		(744		)	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		6,717		(752		)	15,082
Commitments and Contingent Liabilities
Minority Shareholders’ Equity	—		—		361		216			577
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Preferred Stock	500		—		—		—			500
Common Stock	248		—		—		—			248
Other Equity	858		1,421		3,407		(4,828		)	858
Goodyear Shareholders’ Equity	1,606		1,421		3,407		(4,828		)	1,606
Minority Shareholders’ Equity — Nonredeemable	—		—		262		—			262
Total Shareholders’ Equity	1,606		1,421		3,669		(4,828		)	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
	Six Months Ended June 30, 2014
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Net Sales	$	3,865		$	1,254		$	6,023	$	(2,017	)	$	9,125
Cost of Goods Sold	3,178			1,130			4,792		(2,050		)	7,050
Selling, Administrative and General Expense	451			83			836		(5		)	1,365
Rationalizations	(1		)	—			66		—			65
Interest Expense	166			13			59		(31		)	207
Other (Income) Expense	(46		)	(9		)	138		93			176
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	117			37			132		(24		)	262
United States and Foreign Taxes	9			8			51		—			68
Equity in Earnings of Subsidiaries	54			16			—		(70		)	—
Net Income (Loss)	162			45			81		(94		)	194
Less: Minority Shareholders’ Net Income (Loss)	—			—			32		—			32
Goodyear Net Income (Loss)	162			45			49		(94		)	162
Less: Preferred Stock Dividends	7			—			—		—			7
Goodyear Net Income (Loss) available to Common Shareholders	$	155		$	45		$	49	$	(94	)	$	155
Comprehensive Income (Loss)	$	280		$	62		$	175	$	(186	)	$	331
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			53		(2		)	51
Goodyear Comprehensive Income (Loss)	$	280		$	62		$	122	$	(184	)	$	280

	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 Statement of Cash Flows

	Condensed Consolidating Statement of Cash Flows
	Six Months Ended June 30, 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	$	(1,112	)	$	(15	)	$	31		$	(38	)	$	(1,134	)
Cash Flows from Investing Activities:
Capital Expenditures	(148		)	(9		)	(286		)	2			(441		)
Asset Dispositions	2			1			2			—			5
Decrease (Increase) in Restricted Cash	—			—			3			—			3
Short Term Securities Acquired	—			—			(41		)	—			(41		)
Short Term Securities Redeemed	—			—			46			—			46
Capital Contributions and Loans Incurred	(211		)	—			(452		)	663			—
Capital Redemptions and Loans Paid	364			—			209			(573		)	—
Other Transactions	1			—			6			—			7
Total Cash Flows from Investing Activities	8			(8		)	(513		)	92			(421		)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	3			6			18			(9		)	18
Short Term Debt and Overdrafts Paid	(6		)	—			(27		)	9			(24		)
Long Term Debt Incurred	401			—			913			—			1,314
Long Term Debt Paid	(405		)	—			(418		)	—			(823		)
Common Stock Issued	31			—			—			—			31
Common Stock Repurchased	(65		)	—			—			—			(65		)
Common Stock Dividends Paid	(26		)	—			—			—			(26		)
Preferred Stock Dividends Paid	(15		)	—			—			—			(15		)
Capital Contributions and Loans Incurred	452			—			211			(663		)	—
Capital Redemptions and Loans Paid	(209		)	—			(364		)	573			—
Intercompany Dividends Paid	—			—			(36		)	36			—
Transactions with Minority Interests in Subsidiaries	—			—			(34		)	—			(34		)
Total Cash Flows from Financing Activities	161			6			263			(54		)	376
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			—			(180		)	—			(180		)
Net Change in Cash and Cash Equivalents	(943		)	(17		)	(399		)	—			(1,359		)
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	$	326		$	77		$	1,234		$	—		$	1,637

	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
Decrease (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		)	—
Other Transactions	—			—			4			—			4
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