Consolidating Financial Information (Tables)

3 Months Ended

Mar. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]



	Condensed Consolidating Balance Sheet
	March 31, 2017
(In millions)	Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	118	$	25	$	818	$	—		$	961
Accounts Receivable, net	629		119		1,522		—			2,270
Accounts Receivable From Affiliates	—		232		—		(232		)	—
Inventories	1,569		34		1,264		(22		)	2,845
Prepaid Expenses and Other Current Assets	85		1		161		2			249
Total Current Assets	2,401		411		3,765		(252		)	6,325
Goodwill	24		—		399		122			545
Intangible Assets	117		—		19		—			136
Deferred Income Taxes	1,962		31		378		—			2,371
Other Assets	223		53		402		4			682
Investments in Subsidiaries	4,527		562		—		(5,089		)	—
Property, Plant and Equipment, net	2,490		343		4,328		(26		)	7,135
Total Assets	$	11,744	$	1,400	$	9,291	$	(5,241	)	$	17,194
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	896	$	114	$	1,621	$	—		$	2,631
Accounts Payable to Affiliates	66		—		166		(232		)	—
Compensation and Benefits	336		16		216		—			568
Other Current Liabilities	386		2		654		(2		)	1,040
Notes Payable and Overdrafts	—		—		217		—			217
Long Term Debt and Capital Leases Due Within One Year	5		—		453		1			459
Total Current Liabilities	1,689		132		3,327		(233		)	4,915
Long Term Debt and Capital Leases	4,290		—		967		—			5,257
Compensation and Benefits	622		98		672		—			1,392
Deferred Income Taxes	—		1		85		—			86
Other Long Term Liabilities	410		11		162		1			584
Total Liabilities	7,011		242		5,213		(232		)	12,234
Commitments and Contingent Liabilities
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Common Stock	252		—		—		—			252
Other Equity	4,481		1,158		3,851		(5,009		)	4,481
Goodyear Shareholders’ Equity	4,733		1,158		3,851		(5,009		)	4,733
Minority Shareholders’ Equity — Nonredeemable	—		—		227		—			227
Total Shareholders’ Equity	4,733		1,158		4,078		(5,009		)	4,960
Total Liabilities and Shareholders’ Equity	$	11,744	$	1,400	$	9,291	$	(5,241	)	$	17,194



	Condensed Consolidating Balance Sheet
	December 31, 2016
(In millions)	Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	188	$	55	$	889	$	—		$	1,132
Accounts Receivable, net	589		106		1,074		—			1,769
Accounts Receivable From Affiliates	—		277		270		(547		)	—
Inventories	1,443		25		1,178		(19		)	2,627
Prepaid Expenses and Other Current Assets	57		3		130		—			190
Total Current Assets	2,277		466		3,541		(566		)	5,718
Goodwill	24		—		391		120			535
Intangible Assets	118		—		18		—			136
Deferred Income Taxes	2,010		31		373		—			2,414
Other Assets	223		53		387		5			668
Investments in Subsidiaries	4,344		541		—		(4,885		)	—
Property, Plant and Equipment, net	2,481		308		4,279		(28		)	7,040
Total Assets	$	11,477	$	1,399	$	8,989	$	(5,354	)	$	16,511
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	905	$	142	$	1,542	$	—		$	2,589
Accounts Payable to Affiliates	547		—		—		(547		)	—
Compensation and Benefits	365		15		204		—			584
Other Current Liabilities	355		—		611		(3		)	963
Notes Payable and Overdrafts	—		—		245		—			245
Long Term Debt and Capital Leases Due Within One Year	6		—		430		—			436
Total Current Liabilities	2,178		157		3,032		(550		)	4,817
Long Term Debt and Capital Leases	3,685		—		1,113		—			4,798
Compensation and Benefits	682		98		680		—			1,460
Deferred Income Taxes	—		1		84		—			85
Other Long Term Liabilities	425		12		188		1			626
Total Liabilities	6,970		268		5,097		(549		)	11,786
Commitments and Contingent Liabilities
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Common Stock	252		—		—		—			252
Other Equity	4,255		1,131		3,674		(4,805		)	4,255
Goodyear Shareholders’ Equity	4,507		1,131		3,674		(4,805		)	4,507
Minority Shareholders’ Equity — Nonredeemable	—		—		218		—			218
Total Shareholders’ Equity	4,507		1,131		3,892		(4,805		)	4,725
Total Liabilities and Shareholders’ Equity	$	11,477	$	1,399	$	8,989	$	(5,354	)	$	16,511

Consolidating Statements of Operations



	Consolidating Statements of Operations
	Three Months Ended March 31, 2017
(In millions)	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	1,767		$	299	$	2,302		$	(669	)	$	3,699
Cost of Goods Sold	1,380			274		1,796			(685		)	2,765
Selling, Administrative and General Expense	259			9		312			(1		)	579
Rationalizations	1			—		28			—			29
Interest Expense	65			2		31			(11		)	87
Other (Income) Expense	(19		)	2		(4		)	21			—
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	81			12		139			7			239
United States and Foreign Taxes	43			3		29			(5		)	70
Equity in Earnings of Subsidiaries	128			15		—			(143		)	—
Net Income (Loss)	166			24		110			(131		)	169
Less: Minority Shareholders’ Net Income	—			—		3			—			3
Goodyear Net Income (Loss)	$	166		$	24	$	107		$	(131	)	$	166
Comprehensive Income (Loss)	$	261		$	28	$	194		$	(213	)	$	270
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—		9			—			9
Goodyear Comprehensive Income (Loss)	$	261		$	28	$	185		$	(213	)	$	261



	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	$	1,787		$	314		$	2,256		$	(666	)	$	3,691
Cost of Goods Sold	1,330			295			1,777			(701		)	2,701
Selling, Administrative and General Expense	270			10			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	121			5			120			21			267
United States and Foreign Taxes	56			(3		)	26			(1		)	78
Equity in Earnings of Subsidiaries	119			20			—			(139		)	—
Net Income (Loss)	184			28			94			(117		)	189
Less: Minority Shareholders’ Net Income	—			—			5			—			5
Goodyear Net Income (Loss)	$	184		$	28		$	89		$	(117	)	$	184
Comprehensive Income (Loss)	$	244		$	13		$	155		$	(156	)	$	256
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			12			—			12
Goodyear Comprehensive Income (Loss)	$	244		$	13		$	143		$	(156	)	$	244

Condensed Consolidating Statement of Cash Flows



	Condensed Consolidating Statement of Cash Flows
	Three Months Ended March 31, 2017
(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	$	(81	)	$	(4	)	$	(191	)	$	(10	)	$	(286	)
Cash Flows from Investing Activities:
Capital Expenditures	(113		)	(49		)	(109		)	—			(271		)
Asset Dispositions	1			—			—			—			1
Short Term Securities Acquired	—			—			(11		)	—			(11		)
Short Term Securities Redeemed	—			—			11			—			11
Capital Contributions and Loans Incurred	(23		)	—			(30		)	53			—
Capital Redemptions and Loans Paid	—			—			448			(448		)	—
Total Cash Flows from Investing Activities	(135		)	(49		)	309			(395		)	(270		)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	—			—			51			—			51
Short Term Debt and Overdrafts Paid	—			—			(82		)	—			(82		)
Long Term Debt Incurred	1,270			—			568			—			1,838
Long Term Debt Paid	(655		)	—			(714		)	—			(1,369		)
Common Stock Issued	9			—			—			—			9
Common Stock Repurchased	(25		)	—			—			—			(25		)
Common Stock Dividends Paid	(25		)	—			—			—			(25		)
Capital Contributions and Loans Incurred	30			23			—			(53		)	—
Capital Redemptions and Loans Paid	(448		)	—			—			448			—
Intercompany Dividends Paid	—			—			(10		)	10			—
Debt Related Costs and Other Transactions	12			—			(11		)	—			1
Total Cash Flows from Financing Activities	168			23			(198		)	405			398
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	—			—			20			—			20
Net Change in Cash, Cash Equivalents and Restricted Cash	(48		)	(30		)	(60		)	—			(138		)
Cash, Cash Equivalents and Restricted Cash at Beginning of the Period	210			55			924			—			1,189
Cash, Cash Equivalents and Restricted Cash at End of the Period	$	162		$	25		$	864		$	—		$	1,051



	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	$	(315	)	$	2		$	(43	)	$	(16	)	$	(372	)
Cash Flows from Investing Activities:
Capital Expenditures	(116		)	(16		)	(123		)	2			(253		)
Asset Dispositions	—			—			1			—			1
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	(125		)	(16		)	(234		)	111			(264		)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	—			—			26			—			26
Short Term Debt and Overdrafts Paid	—			—			(2		)	—			(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		)	—			(12		)	3			(10		)
Total Cash Flows from Financing Activities	301			(25		)	23			(95		)	204
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	—			2			26			—			28
Net Change in Cash, Cash Equivalents and Restricted Cash	(139		)	(37		)	(228		)	—			(404		)
Cash, Cash Equivalents and Restricted Cash at Beginning of the Period	361			67			1,074			—			1,502
Cash, Cash Equivalents and Restricted Cash at End of the Period	$	222		$	30		$	846		$	—		$	1,098