Changes in Shareholders' Equity

6 Months Ended

Jun. 30, 2015

Equity [Abstract]

CHANGES IN SHAREHOLDERS' EQUITY

CHANGES IN SHAREHOLDERS’ EQUITY

The following tables present the changes in shareholders’ equity for the six months ended June 30, 2015 and 2014:

	June 30, 2015									June 30, 2014
(In millions)	Goodyear Shareholders’ Equity			Minority Shareholders’ Equity – Nonredeemable			Total Shareholders’ Equity			Goodyear Shareholders’ Equity			Minority Shareholders’ Equity – Nonredeemable			Total Shareholders’ Equity
Balance at beginning of period	$	3,610		$	235		$	3,845		$	1,606		$	262		$	1,868
Comprehensive income (loss):
Net income	416			12			428			162			13			175
Foreign currency translation net of tax of ($24) in 2015 ($0 in 2014)	(59		)	(14		)	(73		)	15			2			17
Reclassification adjustment for amounts recognized in income (net of tax of $0 in 2015 and $0 in 2014)	1			—			1			(2		)	—			(2		)
Amortization of prior service cost and unrecognized gains and losses included in total benefit cost net of tax of $18 in 2015 ($3 in 2014)	35			—			35			55			—			55
Decrease (increase) in net actuarial losses net of tax of $11 in 2015 ($3 in 2014)	22			—			22			12			—			12
Immediate recognition of prior service cost and unrecognized gains and losses due to curtailments, settlements, and divestitures net of tax of $0 in 2015 ($0 in 2014)	2			—			2			38			—			38
Deferred derivative gains (losses) net of tax of $2 in 2015 ($(1) in 2014)	9			—			9			(1		)	—			(1		)
Reclassification adjustment for amounts recognized in income net of tax of ($2) in 2015 ($0 in 2014)	(11		)	—			(11		)	—			—			—
Unrealized investment gains (losses) net of tax of $1 in 2015 ($0 in 2014)	1			—			1			1			—			1
Other comprehensive income (loss)	—			(14		)	(14		)	118			2			120
Total comprehensive income (loss)	416			(2		)	414			280			15			295
Purchase of subsidiary shares from minority interest	—			—			—			(5		)	(18		)	(23		)
Dividends declared to minority shareholders	—			(7		)	(7		)	—			(15		)	(15		)
Stock-based compensation plans (Note 11)	10			—			10			11			—			11
Repurchase of common stock (Note 13)	(52		)	—			(52		)	(65		)	—			(65		)
Dividends declared (Note 13)	(32		)	—			(32		)	(33		)	—			(33		)
Common stock issued from treasury	18			—			18			31			—			31
Balance at end of period	$	3,970		$	226		$	4,196		$	1,825		$	244		$	2,069

The following table presents changes in Minority Equity presented outside of Shareholders’ Equity:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(In millions)	2015			2014			2015			2014
Balance at beginning of period	$	539		$	600		$	582		$	577
Comprehensive income (loss):
Net income	7			13			16			19
Foreign currency translation, net of tax of $0 and $0 in 2015 ($0 and $0 in 2014)	23			(3		)	(32		)	(2		)
Amortization of prior service cost and unrecognized gains and losses included in total benefit cost, net of tax of $0 and $0 in 2015 ($0 and $0 in 2014)	1			1			2			2
Decrease (increase) in net actuarial losses, net of tax of $0 and $0 in 2015 ($0 and $0 in 2014)	2			1			2			12
Immediate recognition of prior service cost and unrecognized gains and losses due to curtailments, settlements, and divestitures, net of tax of $0 and $0 in 2015 ($0 and $0 in 2014)	—			—			—			4
Deferred derivative gains (losses), net of tax of $0 and $0 in 2015 ($0 and $0 in 2014)	(1		)	—			1			—
Reclassification adjustment for amounts recognized in income, net of tax of $0 and $0 in 2015 ($0 and $0 in 2014)	(2		)	1			(2		)	1
Other comprehensive income (loss)	23			—			(29		)	17
Total comprehensive income (loss)	30			13			(13		)	36
Balance at end of period	$	569		$	613		$	569		$	613