Consolidating Financial Information (Tables)

9 Months Ended

Sep. 30, 2014

Consolidating Financial Information [Abstract]

Consolidating Balance Sheet

	Condensed Consolidating Balance Sheet
	September 30, 2014
(In millions)	Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	471	$	61	$	1,212	$	—		$	1,744
Accounts Receivable	840		249		1,932		—			3,021
Accounts Receivable From Affiliates	—		770		—		(770		)	—
Inventories	1,299		153		1,522		(50		)	2,924
Prepaid Expenses and Other Current Assets	79		9		265		5			358
Total Current Assets	2,689		1,242		4,931		(815		)	8,047
Goodwill	—		24		481		118			623
Intangible Assets	110		—		25		—			135
Deferred Income Taxes	—		20		76		9			105
Other Assets	287		101		266		—			654
Investments in Subsidiaries	4,401		412		—		(4,813		)	—
Property, Plant and Equipment	2,246		128		4,745		(27		)	7,092
Total Assets	$	9,733	$	1,927	$	10,524	$	(5,528	)	$	16,656
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	869	$	202	$	1,756	$	—		$	2,827
Accounts Payable to Affiliates	646		—		124		(770		)	—
Compensation and Benefits	372		32		370		—			774
Other Current Liabilities	314		29		696		(3		)	1,036
Notes Payable and Overdrafts	—		—		38		—			38
Long Term Debt and Capital Leases Due Within One Year	6		—		92		—			98
Total Current Liabilities	2,207		263		3,076		(773		)	4,773
Long Term Debt and Capital Leases	4,375		—		2,344		—			6,719
Compensation and Benefits	486		116		705		—			1,307
Deferred and Other Noncurrent Income Taxes	67		6		177		(7		)	243
Other Long Term Liabilities	736		31		149		—			916
Total Liabilities	7,871		416		6,451		(780		)	13,958
Commitments and Contingent Liabilities
Minority Shareholders’ Equity	—		—		398		197			595
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Common Stock	275		—		—		—			275
Other Equity	1,587		1,511		3,434		(4,945		)	1,587
Goodyear Shareholders’ Equity	1,862		1,511		3,434		(4,945		)	1,862
Minority Shareholders’ Equity — Nonredeemable	—		—		241		—			241
Total Shareholders’ Equity	1,862		1,511		3,675		(4,945		)	2,103
Total Liabilities and Shareholders’ Equity	$	9,733	$	1,927	$	10,524	$	(5,528	)	$	16,656

	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
	Three Months Ended September 30, 2014
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	1,999		$	673		$	3,338		$	(1,353	)	$	4,657
Cost of Goods Sold	1,630			604			2,669			(1,387		)	3,516
Selling, Administrative and General Expense	228			43			383			(1		)	653
Rationalizations	—			—			15			—			15
Interest Expense	83			7			33			(15		)	108
Other (Income) Expense	(14		)	(1		)	32			49			66
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	72			20			206			1			299
United States and Foreign Taxes	6			5			88			1			100
Equity in Earnings of Subsidiaries	95			21			—			(116		)	—
Net Income (Loss)	161			36			118			(116		)	199
Less: Minority Shareholders’ Net Income (Loss)	—			—			38			—			38
Goodyear Net Income (Loss) available to Common Shareholders	$	161		$	36		$	80		$	(116	)	$	161
Comprehensive Income (Loss)	$	72		$	34		$	(22	)	$	(25	)	$	59
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			4			(17		)	(13		)
Goodyear Comprehensive Income (Loss)	$	72		$	34		$	(26	)	$	(8	)	$	72

	Consolidating Statements of Operations
	Three Months Ended September 30, 2013
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Net Sales	$	2,131		$	676		$	3,246	$	(1,051	)	$	5,002
Cost of Goods Sold	1,810			605			2,620		(1,089		)	3,946
Selling, Administrative and General Expense	241			43			409		(7		)	686
Rationalizations	1			1			19		—			21
Interest Expense	82			7			28		(17		)	100
Other (Income) Expense	(77		)	(2		)	1		78			—
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	74			22			169		(16		)	249
United States and Foreign Taxes	7			7			41		(1		)	54
Equity in Earnings of Subsidiaries	106			10			—		(116		)	—
Net Income (Loss)	173			25			128		(131		)	195
Less: Minority Shareholders’ Net Income (Loss)	—			—			22		—			22
Goodyear Net Income (Loss)	173			25			106		(131		)	173
Less: Preferred Stock Dividends	7			—			—		—			7
Goodyear Net Income (Loss) available to Common Shareholders	$	166		$	25		$	106	$	(131	)	$	166
Comprehensive Income (Loss)	$	241		$	23		$	164	$	(146	)	$	282
Less: Comprehensive Income (Loss) Attributable to Minority Interest	—			—			33		8			41
Goodyear Comprehensive Income (Loss)	$	241		$	23		$	131	$	(154	)	$	241

	Consolidating Statements of Operations
	Nine Months Ended September 30, 2014
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Net Sales	$	5,864		$	1,927		$	9,361	$	(3,370	)	$	13,782
Cost of Goods Sold	4,808			1,734			7,461		(3,437		)	10,566
Selling, Administrative and General Expense	679			126			1,219		(6		)	2,018
Rationalizations	(1		)	—			81		—			80
Interest Expense	249			20			92		(46		)	315
Other (Income) Expense	(60		)	(10		)	170		142			242
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	189			57			338		(23		)	561
United States and Foreign Taxes	15			13			139		1			168
Equity in Earnings of Subsidiaries	149			37			—		(186		)	—
Net Income (Loss)	323			81			199		(210		)	393
Less: Minority Shareholders’ Net Income (Loss)	—			—			70		—			70
Goodyear Net Income (Loss)	323			81			129		(210		)	323
Less: Preferred Stock Dividends	7			—			—		—			7
Goodyear Net Income (Loss) available to Common Shareholders	$	316		$	81		$	129	$	(210	)	$	316
Comprehensive Income (Loss)	$	352		$	96		$	153	$	(211	)	$	390
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			57		(19		)	38
Goodyear Comprehensive Income (Loss)	$	352		$	96		$	96	$	(192	)	$	352

	Consolidating Statements of Operations
	Nine Months Ended September 30, 2013
(In millions)	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Net Sales	$	6,212		$	2,024	$	9,664	$	(3,151	)	$	14,749
Cost of Goods Sold	5,255			1,813		7,956		(3,292		)	11,732
Selling, Administrative and General Expense	695			127		1,212		(12		)	2,022
Rationalizations	6			2		33		—			41
Interest Expense	233			22		82		(50		)	287
Other (Income) Expense	(204		)	2		99		215			112
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	227			58		282		(12		)	555
United States and Foreign Taxes	14			41		100		(19		)	136
Equity in Earnings of Subsidiaries	181			—		—		(181		)	—
Net Income (Loss)	394			17		182		(174		)	419
Less: Minority Shareholders’ Net Income (Loss)	—			—		25		—			25
Goodyear Net Income (Loss)	394			17		157		(174		)	394
Less: Preferred Stock Dividends	22			—		—		—			22
Goodyear Net Income (Loss) available to Common Shareholders	$	372		$	17	$	157	$	(174	)	$	372
Comprehensive Income (Loss)	$	591		$	39	$	111	$	(122	)	$	619
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—		23		5			28
Goodyear Comprehensive Income (Loss)	$	591		$	39	$	88	$	(127	)	$	591

Consolidating Statement of Cash Flows

	Condensed Consolidating Statement of Cash Flows
	Nine Months Ended September 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	$	(957	)	$	(11	)	$	71		$	(42	)	$	(939	)
Cash Flows from Investing Activities:
Capital Expenditures	(203		)	(14		)	(420		)	3			(634		)
Asset Dispositions	2			1			3			—			6
Decrease (Increase) in Restricted Cash	—			—			6			—			6
Short Term Securities Acquired	—			—			(72		)	—			(72		)
Short Term Securities Redeemed	—			—			82			—			82
Capital Contributions and Loans Incurred	(211		)	—			(452		)	663			—
Capital Redemptions and Loans Paid	459			—			244			(703		)	—
Other Transactions	1			—			6			—			7
Total Cash Flows from Investing Activities	48			(13		)	(603		)	(37		)	(605		)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	23			—			52			(23		)	52
Short Term Debt and Overdrafts Paid	—			(6		)	(41		)	23			(24		)
Long Term Debt Incurred	501			—			1,238			—			1,739
Long Term Debt Paid	(507		)	—			(547		)	—			(1,054		)
Common Stock Issued	41			—			—			—			41
Common Stock Repurchased	(97		)	—			—			—			(97		)
Common Stock Dividends Paid	(43		)	—			—			—			(43		)
Preferred Stock Dividends Paid	(15		)	—			—			—			(15		)
Capital Contributions and Loans Incurred	452			—			211			(663		)	—
Capital Redemptions and Loans Paid	(244		)	—			(459		)	703			—
Intercompany Dividends Paid	—			—			(39		)	39			—
Transactions with Minority Interests in Subsidiaries	—			—			(36		)	—			(36		)
Total Cash Flows from Financing Activities	111			(6		)	379			79			563
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			(3		)	(268		)	—			(271		)
Net Change in Cash and Cash Equivalents	(798		)	(33		)	(421		)	—			(1,252		)
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	$	471		$	61		$	1,212		$	—		$	1,744

	Condensed Consolidating Statement of Cash Flows
	Nine Months Ended September 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	$	(362	)	$	(34	)	$	135		$	(37	)	$	(298	)
Cash Flows from Investing Activities:
Capital Expenditures	(132		)	(12		)	(600		)	10			(734		)
Asset Dispositions	2			—			6			—			8
Decrease (Increase) in Restricted Cash	—			—			3			—			3
Short Term Securities Acquired	—			—			(89		)	—			(89		)
Short Term Securities Redeemed	—			—			81			—			81
Capital Contributions and Loans Incurred	(61		)	—			(170		)	231			—
Capital Redemptions and Loans Paid	214			—			364			(578		)	—
Other Transactions	—			—			6			—			6
Total Cash Flows from Investing Activities	23			(12		)	(399		)	(337		)	(725		)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	—			(11		)	94			(53		)	30
Short Term Debt and Overdrafts Paid	(53		)	—			(89		)	53			(89		)
Long Term Debt Incurred	900			—			1,252			—			2,152
Long Term Debt Paid	(8		)	—			(652		)	—			(660		)
Common Stock Issued	16			—			—			—			16
Common Stock Repurchased	(1		)	—			—			—			(1		)
Preferred Stock Dividends Paid	(22		)	—			—			—			(22		)
Capital Contributions and Loans Incurred	170			58			3			(231		)	—
Capital Redemptions and Loans Paid	(364		)	—			(214		)	578			—
Intercompany Dividends Paid	—			—			(27		)	27			—
Transactions with Minority Interests in Subsidiaries	—			—			(10		)	—			(10		)
Debt Related Costs and Other Transactions	(16		)	—			—			—			(16		)
Total Cash Flows from Financing Activities	622			47			357			374			1,400
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			(2		)	(156		)	—			(158		)
Net Change in Cash and Cash Equivalents	283			(1		)	(63		)	—			219
Cash and Cash Equivalents at Beginning of the Period	802			68			1,411			—			2,281
Cash and Cash Equivalents at End of the Period	$	1,085		$	67		$	1,348		$	—		$	2,500