Consolidating Financial Information (Tables)

3 Months Ended

Mar. 31, 2015

Consolidating Financial Information [Abstract]

Consolidating Balance Sheet

	Condensed Consolidating Balance Sheet
	March 31, 2015
(In millions)	Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	330	$	45	$	1,238	$	—		$	1,613
Accounts Receivable	842		157		1,524		—			2,523
Accounts Receivable From Affiliates	—		697		—		(697		)	—
Inventories	1,154		158		1,272		(46		)	2,538
Deferred Income Taxes	503		6		55		4			568
Prepaid Expenses and Other Current Assets	42		3		148		(1		)	192
Total Current Assets	2,871		1,066		4,237		(740		)	7,434
Goodwill	—		24		420		108			552
Intangible Assets	116		—		21		—			137
Deferred Income Taxes	1,567		18		89		8			1,682
Other Assets	246		79		380		—			705
Investments in Subsidiaries	4,060		406		—		(4,466		)	—
Property, Plant and Equipment	2,316		121		4,418		(29		)	6,826
Total Assets	$	11,176	$	1,714	$	9,565	$	(5,119	)	$	17,336
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	830	$	183	$	1,599	$	—		$	2,612
Accounts Payable to Affiliates	570		—		127		(697		)	—
Compensation and Benefits	357		29		283		—			669
Other Current Liabilities	290		27		573		(5		)	885
Notes Payable and Overdrafts	—		—		23		—			23
Long Term Debt and Capital Leases Due Within One Year	6		—		232		—			238
Total Current Liabilities	2,053		239		2,837		(702		)	4,427
Long Term Debt and Capital Leases	4,175		—		1,790		—			5,965
Compensation and Benefits	614		117		778		—			1,509
Deferred and Other Noncurrent Income Taxes	3		5		179		(6		)	181
Other Long Term Liabilities	539		11		146		—			696
Total Liabilities	7,384		372		5,730		(708		)	12,778
Commitments and Contingent Liabilities
Minority Shareholders’ Equity	—		—		370		169			539
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Common Stock	270		—		—		—			270
Other Equity	3,522		1,342		3,238		(4,580		)	3,522
Goodyear Shareholders’ Equity	3,792		1,342		3,238		(4,580		)	3,792
Minority Shareholders’ Equity — Nonredeemable	—		—		227		—			227
Total Shareholders’ Equity	3,792		1,342		3,465		(4,580		)	4,019
Total Liabilities and Shareholders’ Equity	$	11,176	$	1,714	$	9,565	$	(5,119	)	$	17,336

	Condensed Consolidating Balance Sheet
	December 31, 2014
(In millions)	Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	674	$	89	$	1,398	$	—		$	2,161
Accounts Receivable	833		166		1,127		—			2,126
Accounts Receivable From Affiliates	—		623		—		(623		)	—
Inventories	1,151		148		1,410		(38		)	2,671
Deferred Income Taxes	496		6		66		2			570
Prepaid Expenses and Other Current Assets	39		2		156		(1		)	196
Total Current Assets	3,193		1,034		4,157		(660		)	7,724
Goodwill	—		24		462		115			601
Intangible Assets	114		—		24		—			138
Deferred Income Taxes	1,633		24		96		9			1,762
Other Assets	234		86		411		—			731
Investments in Subsidiaries	4,054		416		—		(4,470		)	—
Property, Plant and Equipment	2,329		132		4,721		(29		)	7,153
Total Assets	$	11,557	$	1,716	$	9,871	$	(5,035	)	$	18,109
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	910	$	191	$	1,777	$	—		$	2,878
Accounts Payable to Affiliates	557		—		66		(623		)	—
Compensation and Benefits	392		31		301		—			724
Other Current Liabilities	350		23		589		(6		)	956
Notes Payable and Overdrafts	—		—		30		—			30
Long Term Debt and Capital Leases Due Within One Year	6		—		142		—			148
Total Current Liabilities	2,215		245		2,905		(629		)	4,736
Long Term Debt and Capital Leases	4,375		—		1,841		—			6,216
Compensation and Benefits	666		127		883		—			1,676
Deferred and Other Noncurrent Income Taxes	3		5		179		(6		)	181
Other Long Term Liabilities	688		30		155		—			873
Total Liabilities	7,947		407		5,963		(635		)	13,682
Commitments and Contingent Liabilities
Minority Shareholders’ Equity	—		—		392		190			582
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Common Stock	269		—		—		—			269
Other Equity	3,341		1,309		3,281		(4,590		)	3,341
Goodyear Shareholders’ Equity	3,610		1,309		3,281		(4,590		)	3,610
Minority Shareholders’ Equity — Nonredeemable	—		—		235		—			235
Total Shareholders’ Equity	3,610		1,309		3,516		(4,590		)	3,845
Total Liabilities and Shareholders’ Equity	$	11,557	$	1,716	$	9,871	$	(5,035	)	$	18,109

Consolidating Statements of Operations

	Consolidating Statements of Operations
	Three Months Ended March 31, 2015
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	1,840		$	520		$	2,602		$	(938	)	$	4,024
Cost of Goods Sold	1,443			472			2,103			(952		)	3,066
Selling, Administrative and General Expense	226			40			344			(2		)	608
Rationalizations	—			—			16			—			16
Interest Expense	80			6			30			(13		)	103
Other (Income) Expense	(162		)	(15		)	12			37			(128		)
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	253			17			97			(8		)	359
United States and Foreign Taxes	87			5			30			1			123
Equity in Earnings of Subsidiaries	58			7			—			(65		)	—
Net Income (Loss)	224			19			67			(74		)	236
Less: Minority Shareholders’ Net Income (Loss)	—			—			12			—			12
Goodyear Net Income (Loss) available to Common Shareholders	$	224		$	19		$	55		$	(74	)	$	224
Comprehensive Income (Loss)	$	193		$	34		$	(62	)	$	(22	)	$	143
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			(29		)	(21		)	(50		)
Goodyear Comprehensive Income (Loss)	$	193		$	34		$	(33	)	$	(1	)	$	193

	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 Interest	—			—			29			—			29
Goodyear Comprehensive Income (Loss)	$	14		$	25		$	1		$	(26	)	$	14

Consolidating Statement of Cash Flows

	Condensed Consolidating Statement of Cash Flows
	Three Months Ended March 31, 2015
(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	$	(76	)	$	(33	)	$	(141	)	$	(12	)	$	(262	)
Cash Flows from Investing Activities:
Capital Expenditures	(60		)	(11		)	(136		)	3			(204		)
Asset Dispositions	—			—			1			—			1
Decrease in Restricted Cash	—			—			2			—			2
Short Term Securities Redeemed	—			—			21			—			21
Total Cash Flows from Investing Activities	(60		)	(11		)	(112		)	3			(180		)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	14			7			16			(21		)	16
Short Term Debt and Overdrafts Paid	(7		)	—			(36		)	21			(22		)
Long Term Debt Incurred	141			—			475			—			616
Long Term Debt Paid	(341		)	—			(287		)	—			(628		)
Common Stock Issued	2			—			—			—			2
Common Stock Repurchased	(1		)	—			—			—			(1		)
Common Stock Dividends Paid	(16		)	—			—			—			(16		)
Intercompany Dividends Paid	—			—			(9		)	9			—
Transactions with Minority Interests in Subsidiaries	—			—			(1		)	—			(1		)
Total Cash Flows from Financing Activities	(208		)	7			158			9			(34		)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			(7		)	(65		)	—			(72		)
Net Change in Cash and Cash Equivalents	(344		)	(44		)	(160		)	—			(548		)
Cash and Cash Equivalents at Beginning of the Period	674			89			1,398			—			2,161
Cash and Cash Equivalents at End of the Period	$	330		$	45		$	1,238		$	—		$	1,613

	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
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			—			2
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