Consolidating Financial Information (Tables)

3 Months Ended

Mar. 31, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]



	Condensed Consolidating Balance Sheet
	March 31, 2016
(In millions)	Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	216	$	32	$	831	$	—		$	1,079
Accounts Receivable	762		154		1,566		—			2,482
Accounts Receivable From Affiliates	—		557		—		(557		)	—
Inventories	1,333		156		1,188		(41		)	2,636
Prepaid Expenses and Other Current Assets	44		5		124		5			178
Total Current Assets	2,355		904		3,709		(593		)	6,375
Goodwill	—		24		423		127			574
Intangible Assets	118		—		20		—			138
Deferred Income Taxes	1,978		19		77		—			2,074
Other Assets	211		88		370		7			676
Investments in Subsidiaries	4,229		429		—		(4,658		)	—
Property, Plant and Equipment	2,374		234		4,358		(26		)	6,940
Total Assets	$	11,265	$	1,698	$	8,957	$	(5,143	)	$	16,777
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	900	$	154	$	1,599	$	—		$	2,653
Accounts Payable to Affiliates	346		—		211		(557		)	—
Compensation and Benefits	350		30		235		—			615
Other Current Liabilities	319		19		613		(8		)	943
Notes Payable and Overdrafts	—		—		76		—			76
Long Term Debt and Capital Leases Due Within One Year	6		—		308		—			314
Total Current Liabilities	1,921		203		3,042		(565		)	4,601
Long Term Debt and Capital Leases	4,067		—		1,618		—			5,685
Compensation and Benefits	674		101		662		—			1,437
Deferred Income Taxes	—		1		86		—			87
Other Long Term Liabilities	499		11		125		—			635
Total Liabilities	7,161		316		5,533		(565		)	12,445
Commitments and Contingent Liabilities
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Common Stock	266		—		—		—			266
Other Equity	3,838		1,382		3,196		(4,578		)	3,838
Goodyear Shareholders’ Equity	4,104		1,382		3,196		(4,578		)	4,104
Minority Shareholders’ Equity — Nonredeemable	—		—		228		—			228
Total Shareholders’ Equity	4,104		1,382		3,424		(4,578		)	4,332
Total Liabilities and Shareholders’ Equity	$	11,265	$	1,698	$	8,957	$	(5,143	)	$	16,777



	Condensed Consolidating Balance Sheet
	December 31, 2015
(In millions)	Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	354	$	70	$	1,052	$	—		$	1,476
Accounts Receivable	814		136		1,083		—			2,033
Accounts Receivable From Affiliates	—		609		—		(609		)	—
Inventories	1,199		157		1,152		(44		)	2,464
Prepaid Expenses and Other Current Assets	42		3		105		3			153
Total Current Assets	2,409		975		3,392		(650		)	6,126
Goodwill	—		24		407		124			555
Intangible Assets	118		—		20		—			138
Deferred Income Taxes	2,049		19		73		—			2,141
Other Assets	216		81		350		7			654
Investments in Subsidiaries	4,088		383		—		(4,471		)	—
Property, Plant and Equipment	2,377		216		4,213		(29		)	6,777
Total Assets	$	11,257	$	1,698	$	8,455	$	(5,019	)	$	16,391
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	1,002	$	189	$	1,578	$	—		$	2,769
Accounts Payable to Affiliates	540		—		69		(609		)	—
Compensation and Benefits	411		29		226		—			666
Other Current Liabilities	328		16		547		(5		)	886
Notes Payable and Overdrafts	—		—		49		—			49
Long Term Debt and Capital Leases Due Within One Year	6		—		579		—			585
Total Current Liabilities	2,287		234		3,048		(614		)	4,955
Long Term Debt and Capital Leases	3,796		—		1,278		—			5,074
Compensation and Benefits	725		97		646		—			1,468
Deferred Income Taxes	—		1		92		(2		)	91
Other Long Term Liabilities	529		15		119		(2		)	661
Total Liabilities	7,337		347		5,183		(618		)	12,249
Commitments and Contingent Liabilities
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Common Stock	267		—		—		—			267
Other Equity	3,653		1,351		3,050		(4,401		)	3,653
Goodyear Shareholders’ Equity	3,920		1,351		3,050		(4,401		)	3,920
Minority Shareholders’ Equity — Nonredeemable	—		—		222		—			222
Total Shareholders’ Equity	3,920		1,351		3,272		(4,401		)	4,142
Total Liabilities and Shareholders’ Equity	$	11,257	$	1,698	$	8,455	$	(5,019	)	$	16,391

Consolidating Statements of Operations



	Consolidating Statements of Operations
	Three Months Ended March 31, 2016
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	1,684		$	434		$	1,964		$	(391	)	$	3,691
Cost of Goods Sold	1,233			393			1,485			(410		)	2,701
Selling, Administrative and General Expense	242			38			336			(1		)	615
Rationalizations	2			—			9			—			11
Interest Expense	68			3			31			(11		)	91
Other (Income) Expense	(4		)	1			(17		)	26			6
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	143			(1		)	120			5			267
United States and Foreign Taxes	56			(3		)	26			(1		)	78
Equity in Earnings of Subsidiaries	97			20			—			(117		)	—
Net Income (Loss)	184			22			94			(111		)	189
Less: Minority Shareholders’ Net Income (Loss)	—			—			5			—			5
Goodyear Net Income (Loss)	$	184		$	22		$	89		$	(111	)	$	184
Comprehensive Income (Loss)	$	244		$	7		$	155		$	(150	)	$	256
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			12			—			12
Goodyear Comprehensive Income (Loss)	$	244		$	7		$	143		$	(150	)	$	244



	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	83			6			31			(13		)	107
Other (Income) Expense	(165		)	(15		)	11			37			(132		)
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)	$	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

Condensed Consolidating Statement of Cash Flows



	Condensed Consolidating Statement of Cash Flows
	Three Months Ended March 31, 2016
(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	$	(316	)	$	3		$	(52	)	$	(16	)	$	(381	)
Cash Flows from Investing Activities:
Capital Expenditures	(113		)	(19		)	(123		)	2			(253		)
Asset Dispositions	—			—			1			—			1
Decrease in Restricted Cash	—			—			7			—			7
Short Term Securities Acquired	—			—			(12		)	—			(12		)
Capital Contributions and Loans Incurred	(34		)	—			(100		)	134			—
Capital Redemptions and Loans Paid	25			—			—			(25		)	—
Total Cash Flows from Investing Activities	(122		)	(19		)	(227		)	111			(257		)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	—			1			26			(1		)	26
Short Term Debt and Overdrafts Paid	(1		)	—			(2		)	1			(2		)
Long Term Debt Incurred	320			—			765			—			1,085
Long Term Debt Paid	(51		)	—			(771		)	—			(822		)
Common Stock Issued	2			—			—			—			2
Common Stock Repurchased	(50		)	—			—			—			(50		)
Common Stock Dividends Paid	(19		)	—			—			—			(19		)
Capital Contributions and Loans Incurred	100			—			34			(134		)	—
Capital Redemptions and Loans Paid	—			(25		)	—			25			—
Intercompany Dividends Paid	—			—			(11		)	11			—
Transactions with Minority Interests in Subsidiaries	—			—			(6		)	—			(6		)
Debt Related Costs and Other Transactions	(1		)	—			(3		)	3			(1		)
Total Cash Flows from Financing Activities	300			(24		)	32			(95		)	213
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			2			26			—			28
Net Change in Cash and Cash Equivalents	(138		)	(38		)	(221		)	—			(397		)
Cash and Cash Equivalents at Beginning of the Period	354			70			1,052			—			1,476
Cash and Cash Equivalents at End of the Period	$	216		$	32		$	831		$	—		$	1,079



	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