Consolidating Financial Information (Tables)

9 Months Ended

Sep. 30, 2015

Consolidating Financial Information [Abstract]

Consolidating Balance Sheet

	Condensed Consolidating Balance Sheet
	September 30, 2015
(In millions)	Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	483	$	45	$	1,162	$	—		$	1,690
Accounts Receivable	829		207		1,580		—			2,616
Accounts Receivable From Affiliates	—		649		—		(649		)	—
Inventories	1,214		161		1,223		(54		)	2,544
Deferred Income Taxes	505		6		61		3			575
Assets Held for Sale	193		—		234		(185		)	242
Prepaid Expenses and Other Current Assets	47		5		203		—			255
Total Current Assets	3,271		1,073		4,463		(885		)	7,922
Goodwill	—		24		424		108			556
Intangible Assets	109		—		22		—			131
Deferred Income Taxes	1,381		18		78		8			1,485
Other Assets	271		71		406		—			748
Investments in Subsidiaries	4,039		332		—		(4,371		)	—
Property, Plant and Equipment	2,341		124		4,239		(31		)	6,673
Total Assets	$	11,412	$	1,642	$	9,632	$	(5,171	)	$	17,515
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	872	$	180	$	1,524	$	—		$	2,576
Accounts Payable to Affiliates	461		—		188		(649		)	—
Compensation and Benefits	371		30		322		—			723
Liabilities Held for Sale	—		—		204		—			204
Other Current Liabilities	316		23		539		(7		)	871
Notes Payable and Overdrafts	—		—		41		—			41
Long Term Debt and Capital Leases Due Within One Year	6		—		362		—			368
Total Current Liabilities	2,026		233		3,180		(656		)	4,783
Long Term Debt and Capital Leases	4,174		—		1,417		—			5,591
Compensation and Benefits	584		105		737		—			1,426
Deferred and Other Noncurrent Income Taxes	1		5		174		(4		)	176
Other Long Term Liabilities	484		10		93		—			587
Total Liabilities	7,269		353		5,601		(660		)	12,563
Commitments and Contingent Liabilities
Minority Shareholders’ Equity	—		—		414		176			590
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Common Stock	269		—		—		—			269
Other Equity	3,874		1,289		3,398		(4,687		)	3,874
Goodyear Shareholders’ Equity	4,143		1,289		3,398		(4,687		)	4,143
Minority Shareholders’ Equity — Nonredeemable	—		—		219		—			219
Total Shareholders’ Equity	4,143		1,289		3,617		(4,687		)	4,362
Total Liabilities and Shareholders’ Equity	$	11,412	$	1,642	$	9,632	$	(5,171	)	$	17,515

	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 September 30, 2015
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Net Sales	$	1,916		$	568		$	2,669	$	(969	)	$	4,184
Cost of Goods Sold	1,421			523			2,063		(1,007		)	3,000
Selling, Administrative and General Expense	249			41			345		(2		)	633
Rationalizations	5			—			15		—			20
Interest Expense	77			5			33		(13		)	102
Other (Income) Expense	(80		)	1			34		43			(2		)
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	244			(2		)	179		10			431
United States and Foreign Taxes	99			(2		)	26		3			126
Equity in Earnings of Subsidiaries	126			20			—		(146		)	—
Net Income (Loss)	271			20			153		(139		)	305
Less: Minority Shareholders’ Net Income (Loss)	—			—			34		—			34
Goodyear Net Income (Loss) available to Common Shareholders	$	271		$	20		$	119	$	(139	)	$	271
Comprehensive Income (Loss)	$	204		$	30		$	48	$	(63	)	$	219
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			15		—			15
Goodyear Comprehensive Income (Loss)	$	204		$	30		$	33	$	(63	)	$	204

	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 Interest	—			—			4			(17		)	(13		)
Goodyear Comprehensive Income (Loss)	$	72		$	34		$	(26	)	$	(8	)	$	72

	Consolidating Statements of Operations
	Nine Months Ended September 30, 2015
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Net Sales	$	5,730		$	1,656		$	7,911	$	(2,917	)	$	12,380
Cost of Goods Sold	4,330			1,515			6,222		(2,974		)	9,093
Selling, Administrative and General Expense	717			123			1,055		(6		)	1,889
Rationalizations	10			—			71		1			82
Interest Expense	237			17			99		(42		)	311
Other (Income) Expense	(275		)	(15		)	55		122			(113		)
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	711			16			409		(18		)	1,118
United States and Foreign Taxes	271			5			91		2			369
Equity in Earnings of Subsidiaries	247			(40		)	—		(207		)	—
Net Income (Loss)	687			(29		)	318		(227		)	749
Less: Minority Shareholders’ Net Income (Loss)	—			—			62		—			62
Goodyear Net Income (Loss)	687			(29		)	256		(227		)	687
Less: Preferred Stock Dividends	—			—			—		—			—
Goodyear Net Income (Loss) available to Common Shareholders	$	687		$	(29	)	$	256	$	(227	)	$	687
Comprehensive Income (Loss)	$	620		$	4		$	113	$	(117	)	$	620
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			14		(14		)	—
Goodyear Comprehensive Income (Loss)	$	620		$	4		$	99	$	(103	)	$	620

	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 Statement of Cash Flows

	Condensed Consolidating Statement of Cash Flows
	Nine Months Ended September 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	$	326		$	1		$	332		$	(24	)	$	635
Cash Flows from Investing Activities:
Capital Expenditures	(252		)	(27		)	(382		)	5			(656		)
Asset Dispositions	1			—			12			—			13
Decrease (Increase) in Restricted Cash	—			—			(11		)	—			(11		)
Short Term Securities Acquired	—			—			(50		)	—			(50		)
Short Term Securities Redeemed	—			—			25			—			25
Capital Contributions and Loans Incurred	(70		)	—			(90		)	160			—
Capital Redemptions and Loans Paid	12			—			40			(52		)	—
Other Transactions	—			—			5			—			5
Total Cash Flows from Investing Activities	(309		)	(27		)	(451		)	113			(674		)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	47			—			72			(47		)	72
Short Term Debt and Overdrafts Paid	—			(8		)	(98		)	47			(59		)
Long Term Debt Incurred	455			—			810			—			1,265
Long Term Debt Paid	(659		)	—			(810		)	—			(1,469		)
Common Stock Issued	33			—			—			—			33
Common Stock Repurchased	(82		)	—			—			—			(82		)
Common Stock Dividends Paid	(49		)	—			—			—			(49		)
Capital Contributions and Loans Incurred	90			12			58			(160		)	—
Capital Redemptions and Loans Paid	(40		)	(12		)	—			52			—
Intercompany Dividends Paid	—			—			(19		)	19			—
Transactions with Minority Interests in Subsidiaries	—			—			(5		)	—			(5		)
Debt Related Costs and Other Transactions	(3		)	—			(9		)	—			(12		)
Total Cash Flows from Financing Activities	(208		)	(8		)	(1		)	(89		)	(306		)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			(10		)	(92		)	—			(102		)
Net Change in Cash and Cash Equivalents	(191		)	(44		)	(212		)	—			(447		)
Cash and Cash Equivalents at Beginning of the Period	674			89			1,398			—			2,161
Less: Cash Held for Sale	—			—			(24		)	—			(24		)
Cash and Cash Equivalents at End of the Period	$	483		$	45		$	1,162		$	—		$	1,690

	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 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