Consolidating Financial Information (Tables)

9 Months Ended

Sep. 30, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Balance Sheet

	Condensed Consolidating Balance Sheet
	September 30, 2016
(In millions)	Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	100	$	62	$	813	$	—		$	975
Accounts Receivable, net	791		197		1,661		—			2,649
Accounts Receivable From Affiliates	—		446		—		(446		)	—
Inventories	1,383		149		1,269		(47		)	2,754
Prepaid Expenses and Other Current Assets	52		4		139		(2		)	193
Total Current Assets	2,326		858		3,882		(495		)	6,571
Goodwill	—		24		415		125			564
Intangible Assets	118		—		20		—			138
Deferred Income Taxes	2,031		20		78		—			2,129
Other Assets	229		88		379		6			702
Investments in Subsidiaries	4,388		472		—		(4,860		)	—
Property, Plant and Equipment, net	2,386		274		4,405		(26		)	7,039
Total Assets	$	11,478	$	1,736	$	9,179	$	(5,250	)	$	17,143
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	853	$	139	$	1,608	$	—		$	2,600
Accounts Payable to Affiliates	244		—		202		(446		)	—
Compensation and Benefits	333		29		263		—			625
Other Current Liabilities	361		20		619		(7		)	993
Notes Payable and Overdrafts	—		—		179		—			179
Long Term Debt and Capital Leases Due Within One Year	6		—		397		—			403
Total Current Liabilities	1,797		188		3,268		(453		)	4,800
Long Term Debt and Capital Leases	4,107		—		1,339		—			5,446
Compensation and Benefits	629		94		665		—			1,388
Deferred Income Taxes	—		1		88		—			89
Other Long Term Liabilities	468		10		238		—			716
Total Liabilities	7,001		293		5,598		(453		)	12,439
Commitments and Contingent Liabilities
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Common Stock	261		—		—		—			261
Other Equity	4,216		1,443		3,354		(4,797		)	4,216
Goodyear Shareholders’ Equity	4,477		1,443		3,354		(4,797		)	4,477
Minority Shareholders’ Equity — Nonredeemable	—		—		227		—			227
Total Shareholders’ Equity	4,477		1,443		3,581		(4,797		)	4,704
Total Liabilities and Shareholders’ Equity	$	11,478	$	1,736	$	9,179	$	(5,250	)	$	17,143

	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, net	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, net	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 September 30, 2016
(In millions)	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	1,773		$	462	$	2,319		$	(707	)	$	3,847
Cost of Goods Sold	1,305			411		1,737			(717		)	2,736
Selling, Administrative and General Expense	238			39		322			—			599
Rationalizations	7			—		128			—			135
Interest Expense	64			2		24			—			90
Other (Income) Expense	(24		)	—		(7		)	8			(23		)
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	183			10		115			2			310
United States and Foreign Taxes	(55		)	3		41			1			(10		)
Equity in Earnings of Subsidiaries	79			10		—			(89		)	—
Net Income (Loss)	317			17		74			(88		)	320
Less: Minority Shareholders’ Net Income	—			—		3			—			3
Goodyear Net Income (Loss)	$	317		$	17	$	71		$	(88	)	$	317
Comprehensive Income (Loss)	$	322		$	17	$	70		$	(84	)	$	325
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—		3			—			3
Goodyear Comprehensive Income (Loss)	$	322		$	17	$	67		$	(84	)	$	322

	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	79			5			34		(13		)	105
Other (Income) Expense	(82		)	1			33		43			(5		)
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	—			—			34		—			34
Goodyear Net Income (Loss)	$	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
	Nine Months Ended September 30, 2016
(In millions)	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	5,245		$	1,372	$	6,922		$	(2,122	)	$	11,417
Cost of Goods Sold	3,866			1,234		5,311			(2,161		)	8,250
Selling, Administrative and General Expense	714			115		979			(1		)	1,807
Rationalizations	12			—		182			—			194
Interest Expense	211			8		77			(11		)	285
Other (Income) Expense	(29		)	1		(17		)	48			3
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	471			14		390			3			878
United States and Foreign Taxes	50			2		104			5			161
Equity in Earnings of Subsidiaries	282			31		—			(313		)	—
Net Income (Loss)	703			43		286			(315		)	717
Less: Minority Shareholders’ Net Income	—			—		14			—			14
Goodyear Net Income (Loss)	$	703		$	43	$	272		$	(315	)	$	703
Comprehensive Income (Loss)	$	756		$	23	$	311		$	(318	)	$	772
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—		16			—			16
Goodyear Comprehensive Income (Loss)	$	756		$	23	$	295		$	(318	)	$	756

	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	245			17			102		(42		)	322
Other (Income) Expense	(283		)	(15		)	52		122			(124		)
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	—			—			62		—			62
Goodyear Net Income (Loss)	$	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

Condensed Consolidating Statement of Cash Flows

	Condensed Consolidating Statement of Cash Flows
	Nine Months Ended September 30, 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	$	(4	)	$	17		$	252		$	(28	)	$	237
Cash Flows from Investing Activities:
Capital Expenditures	(266		)	(74		)	(375		)	4			(711		)
Asset Dispositions	11			—			2			—			13
Decrease in Restricted Cash	—			—			1			—			1
Short Term Securities Acquired	—			—			(46		)	—			(46		)
Short Term Securities Redeemed	—			—			34			—			34
Capital Contributions and Loans Incurred	(165		)	—			(248		)	413			—
Capital Redemptions and Loans Paid	48			—			148			(196		)	—
Other Transactions	—			—			2			—			2
Total Cash Flows from Investing Activities	(372		)	(74		)	(482		)	221			(707		)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	—			14			219			(14		)	219
Short Term Debt and Overdrafts Paid	(14		)	—			(99		)	14			(99		)
Long Term Debt Incurred	2,339			—			1,790			—			4,129
Long Term Debt Paid	(2,034		)	—			(1,991		)	—			(4,025		)
Common Stock Issued	9			—			—			—			9
Common Stock Repurchased	(200		)	—			—			—			(200		)
Common Stock Dividends Paid	(56		)	—			—			—			(56		)
Capital Contributions and Loans Incurred	248			59			106			(413		)	—
Capital Redemptions and Loans Paid	(148		)	(25		)	(23		)	196			—
Intercompany Dividends Paid	—			—			(24		)	24			—
Transactions with Minority Interests in Subsidiaries	—			—			(9		)	—			(9		)
Debt Related Costs and Other Transactions	(22		)	—			(2		)	—			(24		)
Total Cash Flows from Financing Activities	122			48			(33		)	(193		)	(56		)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			1			24			—			25
Net Change in Cash and Cash Equivalents	(254		)	(8		)	(239		)	—			(501		)
Cash and Cash Equivalents at Beginning of the Period	354			70			1,052			—			1,476
Cash and Cash Equivalents at End of the Period	$	100		$	62		$	813		$	—		$	975

	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
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