Consolidating Financial Information (Tables)

6 Months Ended

Jun. 30, 2015

Consolidating Financial Information [Abstract]

Consolidating Balance Sheet

	Condensed Consolidating Balance Sheet
	June 30, 2015
(In millions)	Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	477	$	70	$	1,091	$	—		$	1,638
Accounts Receivable	847		186		1,443		—			2,476
Accounts Receivable From Affiliates	—		638		—		(638		)	—
Inventories	1,153		157		1,301		(66		)	2,545
Deferred Income Taxes	504		6		65		4			579
Assets Held for Sale	189		—		210		(181		)	218
Prepaid Expenses and Other Current Assets	47		7		185		—			239
Total Current Assets	3,217		1,064		4,295		(881		)	7,695
Goodwill	—		24		428		111			563
Intangible Assets	110		—		22		—			132
Deferred Income Taxes	1,463		18		82		9			1,572
Other Assets	249		77		418		—			744
Investments in Subsidiaries	3,949		329		—		(4,278		)	—
Property, Plant and Equipment	2,325		124		4,392		(31		)	6,810
Total Assets	$	11,313	$	1,636	$	9,637	$	(5,070	)	$	17,516
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	826	$	184	$	1,592	$	—		$	2,602
Accounts Payable to Affiliates	563		—		75		(638		)	—
Compensation and Benefits	339		31		305		—			675
Liabilities Held for Sale	—		—		203		—			203
Other Current Liabilities	324		30		558		(8		)	904
Notes Payable and Overdrafts	—		—		36		—			36
Long Term Debt and Capital Leases Due Within One Year	6		—		315		—			321
Total Current Liabilities	2,058		245		3,084		(646		)	4,741
Long Term Debt and Capital Leases	4,175		—		1,571		—			5,746
Compensation and Benefits	592		113		747		—			1,452
Deferred and Other Noncurrent Income Taxes	1		5		183		(3		)	186
Other Long Term Liabilities	517		10		99		—			626
Total Liabilities	7,343		373		5,684		(649		)	12,751
Commitments and Contingent Liabilities
Minority Shareholders’ Equity	—		—		393		176			569
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Common Stock	269		—		—		—			269
Other Equity	3,701		1,263		3,334		(4,597		)	3,701
Goodyear Shareholders’ Equity	3,970		1,263		3,334		(4,597		)	3,970
Minority Shareholders’ Equity — Nonredeemable	—		—		226		—			226
Total Shareholders’ Equity	3,970		1,263		3,560		(4,597		)	4,196
Total Liabilities and Shareholders’ Equity	$	11,313	$	1,636	$	9,637	$	(5,070	)	$	17,516

	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 June 30, 2015
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Net Sales	$	1,974		$	568		$	2,640	$	(1,010	)	$	4,172
Cost of Goods Sold	1,466			520			2,056		(1,015		)	3,027
Selling, Administrative and General Expense	242			42			366		(2		)	648
Rationalizations	5			—			40		1			46
Interest Expense	80			6			36		(16		)	106
Other (Income) Expense	(33		)	(1		)	9		42			17
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	214			1			133		(20		)	328
United States and Foreign Taxes	85			2			35		(2		)	120
Equity in Earnings of Subsidiaries	63			(67		)	—		4			—
Net Income (Loss)	192			(68		)	98		(14		)	208
Less: Minority Shareholders’ Net Income (Loss)	—			—			16		—			16
Goodyear Net Income (Loss) available to Common Shareholders	$	192		$	(68	)	$	82	$	(14	)	$	192
Comprehensive Income (Loss)	$	223		$	(60	)	$	127	$	(32	)	$	258
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			28		7			35
Goodyear Comprehensive Income (Loss)	$	223		$	(60	)	$	99	$	(39	)	$	223

	Consolidating Statements of Operations
	Three Months Ended June 30, 2014
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Net Sales	$	1,990		$	653		$	2,864	$	(851	)	$	4,656
Cost of Goods Sold	1,620			582			2,210		(880		)	3,532
Selling, Administrative and General Expense	227			43			430		(2		)	698
Rationalizations	—			—			24		—			24
Interest Expense	84			6			28		(16		)	102
Other (Income) Expense	(34		)	(5		)	—		47			8
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	93			27			172		—			292
United States and Foreign Taxes	7			5			48		—			60
Equity in Earnings of Subsidiaries	127			10			—		(137		)	—
Net Income (Loss)	213			32			124		(137		)	232
Less: Minority Shareholders’ Net Income (Loss)	—			—			19		—			19
Goodyear Net Income (Loss) available to Common Shareholders	$	213		$	32		$	105	$	(137	)	$	213
Comprehensive Income (Loss)	$	266		$	37		$	145	$	(160	)	$	288
Less: Comprehensive Income (Loss) Attributable to Minority Interest	—			—			24		(2		)	22
Goodyear Comprehensive Income (Loss)	$	266		$	37		$	121	$	(158	)	$	266

	Consolidating Statements of Operations
	Six Months Ended June 30, 2015
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	3,814		$	1,088		$	5,242		$	(1,948	)	$	8,196
Cost of Goods Sold	2,909			992			4,159			(1,967		)	6,093
Selling, Administrative and General Expense	468			82			710			(4		)	1,256
Rationalizations	5			—			56			1			62
Interest Expense	160			12			66			(29		)	209
Other (Income) Expense	(195		)	(16		)	21			79			(111		)
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	467			18			230			(28		)	687
United States and Foreign Taxes	172			7			65			(1		)	243
Equity in Earnings of Subsidiaries	121			(60		)	—			(61		)	—
Net Income (Loss)	416			(49		)	165			(88		)	444
Less: Minority Shareholders’ Net Income (Loss)	—			—			28			—			28
Goodyear Net Income (Loss)	416			(49		)	137			(88		)	416
Less: Preferred Stock Dividends	—			—			—			—			—
Goodyear Net Income (Loss) available to Common Shareholders	$	416		$	(49	)	$	137		$	(88	)	$	416
Comprehensive Income (Loss)	$	416		$	(26	)	$	65		$	(54	)	$	401
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			(1		)	(14		)	(15		)
Goodyear Comprehensive Income (Loss)	$	416		$	(26	)	$	66		$	(40	)	$	416

	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 Statement of Cash Flows

	Condensed Consolidating Statement of Cash Flows
	Six Months Ended June 30, 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	$	231		$	(14	)	$	75		$	(18	)	$	274
Cash Flows from Investing Activities:
Capital Expenditures	(184		)	(16		)	(251		)	3			(448		)
Asset Dispositions	—			—			8			—			8
Decrease (Increase) in Restricted Cash	—			—			(6		)	—			(6		)
Short Term Securities Acquired	—			—			(49		)	—			(49		)
Short Term Securities Redeemed	—			—			21			—			21
Capital Contributions and Loans Incurred	(12		)	—			—			12			—
Other Transactions	—			—			5			—			5
Total Cash Flows from Investing Activities	(196		)	(16		)	(272		)	15			(469		)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	43			5			49			(48		)	49
Short Term Debt and Overdrafts Paid	(5		)	—			(86		)	48			(43		)
Long Term Debt Incurred	455			—			661			—			1,116
Long Term Debt Paid	(658		)	—			(654		)	—			(1,312		)
Common Stock Issued	18			—			—			—			18
Common Stock Repurchased	(52		)	—			—			—			(52		)
Common Stock Dividends Paid	(32		)	—			—			—			(32		)
Capital Contributions and Loans Incurred	—			12			—			(12		)	—
Intercompany Dividends Paid	—			—			(15		)	15			—
Transactions with Minority Interests in Subsidiaries	—			—			(1		)	—			(1		)
Debt Related Costs and Other Transactions	(1		)	—			(9		)	—			(10		)
Total Cash Flows from Financing Activities	(232		)	17			(55		)	3			(267		)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			(6		)	(55		)	—			(61		)
Net Change in Cash and Cash Equivalents	(197		)	(19		)	(307		)	—			(523		)
Cash and Cash Equivalents at Beginning of the Period	674			89			1,398			—			2,161
Cash and Cash Equivalents at End of the Period	$	477		$	70		$	1,091		$	—		$	1,638

	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 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