Consolidating Financial Information (Tables)

6 Months Ended

Jun. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Balance Sheet

	Condensed Consolidating Balance Sheet
	June 30, 2017
(In millions)	Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	84	$	55	$	764	$	—		$	903
Accounts Receivable, net	678		136		1,495		—			2,309
Accounts Receivable From Affiliates	—		166		261		(427		)	—
Inventories	1,613		50		1,542		(21		)	3,184
Prepaid Expenses and Other Current Assets	74		2		157		3			236
Total Current Assets	2,449		409		4,219		(445		)	6,632
Goodwill	24		1		421		125			571
Intangible Assets	118		—		19		—			137
Deferred Income Taxes	1,930		32		399		—			2,361
Other Assets	223		51		423		3			700
Investments in Subsidiaries	4,645		590		—		(5,235		)	—
Property, Plant and Equipment, net	2,481		378		4,414		(28		)	7,245
Total Assets	$	11,870	$	1,461	$	9,895	$	(5,580	)	$	17,646
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	851	$	106	$	1,817	$	—		$	2,774
Accounts Payable to Affiliates	427		—		—		(427		)	—
Compensation and Benefits	311		15		241		—			567
Other Current Liabilities	350		1		706		(2		)	1,055
Notes Payable and Overdrafts	—		—		238		—			238
Long Term Debt and Capital Leases Due Within One Year	5		—		430		—			435
Total Current Liabilities	1,944		122		3,432		(429		)	5,069
Long Term Debt and Capital Leases	4,017		52		1,334		—			5,403
Compensation and Benefits	598		100		710		—			1,408
Deferred Income Taxes	—		1		85		—			86
Other Long Term Liabilities	402		11		122		—			535
Total Liabilities	6,961		286		5,683		(429		)	12,501
Commitments and Contingent Liabilities
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Common Stock	252		—		—		—			252
Other Equity	4,657		1,175		3,976		(5,151		)	4,657
Goodyear Shareholders’ Equity	4,909		1,175		3,976		(5,151		)	4,909
Minority Shareholders’ Equity — Nonredeemable	—		—		236		—			236
Total Shareholders’ Equity	4,909		1,175		4,212		(5,151		)	5,145
Total Liabilities and Shareholders’ Equity	$	11,870	$	1,461	$	9,895	$	(5,580	)	$	17,646

	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 June 30, 2017
(In millions)	Parent Company		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	1,863	$	290		$	2,316		$	(783	)	$	3,686
Cost of Goods Sold	1,462		286			1,842			(798		)	2,792
Selling, Administrative and General Expense	248		10			324			1			583
Rationalizations	1		—			26			—			27
Interest Expense	69		2			31			(13		)	89
Other (Income) Expense	—		(1		)	(19		)	25			5
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	83		(7		)	112			2			190
United States and Foreign Taxes	17		(3		)	20			2			36
Equity in Earnings of Subsidiaries	81		16			—			(97		)	—
Net Income (Loss)	147		12			92			(97		)	154
Less: Minority Shareholders’ Net Income	—		—			7			—			7
Goodyear Net Income (Loss)	$	147	$	12		$	85		$	(97	)	$	147
Comprehensive Income (Loss)	$	198	$	13		$	146		$	(145	)	$	212
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—		—			14			—			14
Goodyear Comprehensive Income (Loss)	$	198	$	13		$	132		$	(145	)	$	198

	Consolidating Statements of Operations
	Three Months Ended June 30, 2016
(In millions)	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Net Sales	$	1,889		$	351	$	2,347	$	(708	)	$	3,879
Cost of Goods Sold	1,407			329		1,797		(720		)	2,813
Selling, Administrative and General Expense	261			11		321		—			593
Rationalizations	3			—		45		—			48
Interest Expense	78			4		22		—			104
Other (Income) Expense	(1		)	—		7		14			20
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	141			7		155		(2		)	301
United States and Foreign Taxes	49			2		37		5			93
Equity in Earnings of Subsidiaries	110			1		—		(111		)	—
Net Income (Loss)	202			6		118		(118		)	208
Less: Minority Shareholders’ Net Income	—			—		6		—			6
Goodyear Net Income (Loss)	$	202		$	6	$	112	$	(118	)	$	202
Comprehensive Income (Loss)	$	190		$	1	$	86	$	(86	)	$	191
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—		1		—			1
Goodyear Comprehensive Income (Loss)	$	190		$	1	$	85	$	(86	)	$	190

	Consolidating Statements of Operations
	Six Months Ended June 30, 2017
(In millions)	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	3,630		$	589	$	4,618		$	(1,452	)	$	7,385
Cost of Goods Sold	2,842			560		3,638			(1,483		)	5,557
Selling, Administrative and General Expense	507			19		636			—			1,162
Rationalizations	2			—		54			—			56
Interest Expense	134			4		62			(24		)	176
Other (Income) Expense	(19		)	1		(23		)	46			5
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	164			5		251			9			429
United States and Foreign Taxes	60			—		49			(3		)	106
Equity in Earnings of Subsidiaries	209			31		—			(240		)	—
Net Income (Loss)	313			36		202			(228		)	323
Less: Minority Shareholders’ Net Income	—			—		10			—			10
Goodyear Net Income (Loss)	$	313		$	36	$	192		$	(228	)	$	313
Comprehensive Income (Loss)	$	459		$	41	$	340		$	(358	)	$	482
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—		23			—			23
Goodyear Comprehensive Income (Loss)	$	459		$	41	$	317		$	(358	)	$	459

	Consolidating Statements of Operations
	Six Months Ended June 30, 2016
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	3,676		$	665		$	4,603		$	(1,374	)	$	7,570
Cost of Goods Sold	2,737			624			3,574			(1,421		)	5,514
Selling, Administrative and General Expense	531			21			657			(1		)	1,208
Rationalizations	5			—			54			—			59
Interest Expense	146			7			53			(11		)	195
Other (Income) Expense	(5		)	1			(10		)	40			26
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	262			12			275			19			568
United States and Foreign Taxes	105			(1		)	63			4			171
Equity in Earnings of Subsidiaries	229			21			—			(250		)	—
Net Income (Loss)	386			34			212			(235		)	397
Less: Minority Shareholders’ Net Income	—			—			11			—			11
Goodyear Net Income (Loss)	$	386		$	34		$	201		$	(235	)	$	386
Comprehensive Income (Loss)	$	434		$	14		$	241		$	(242	)	$	447
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			13			—			13
Goodyear Comprehensive Income (Loss)	$	434		$	14		$	228		$	(242	)	$	434

Condensed Consolidating Statement of Cash Flows

	Condensed Consolidating Statement of Cash Flows
	Six Months Ended June 30, 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	$	(49	)	$	(30	)	$	(90	)	$	(16	)	$	(185	)
Cash Flows from Investing Activities:
Capital Expenditures	(190		)	(86		)	(224		)	3			(497		)
Asset Dispositions	1			—			1			—			2
Short Term Securities Acquired	—			—			(43		)	—			(43		)
Short Term Securities Redeemed	—			—			43			—			43
Capital Contributions and Loans Incurred	(62		)	—			(30		)	92			—
Capital Redemptions and Loans Paid	—			—			61			(61		)	—
Other Transactions	—			—			(3		)	—			(3		)
Total Cash Flows from Investing Activities	(251		)	(86		)	(195		)	34			(498		)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	40			—			250			—			290
Short Term Debt and Overdrafts Paid	(40		)	—			(263		)	—			(303		)
Long Term Debt Incurred	2,090			52			1,314			—			3,456
Long Term Debt Paid	(1,759		)	—			(1,146		)	—			(2,905		)
Common Stock Issued	11			—			—			—			11
Common Stock Repurchased	(30		)	—			—			—			(30		)
Common Stock Dividends Paid	(50		)	—			—			—			(50		)
Capital Contributions and Loans Incurred	30			62			—			(92		)	—
Capital Redemptions and Loans Paid	(61		)	—			—			61			—
Intercompany Dividends Paid	—			—			(13		)	13			—
Transactions with Minority Interests in Subsidiaries	—			—			(5		)	—			(5		)
Debt Related Costs and Other Transactions	(26		)	—			(12		)	—			(38		)
Total Cash Flows from Financing Activities	205			114			125			(18		)	426
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	—			2			35			—			37
Net Change in Cash, Cash Equivalents and Restricted Cash	(95		)	—			(125		)	—			(220		)
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	$	115		$	55		$	799		$	—		$	969

	Condensed Consolidating Statement of Cash Flows
	Six Months Ended June 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	$	(199	)	$	(11	)	$	160		$	(17	)	$	(67	)
Cash Flows from Investing Activities:
Capital Expenditures	(189		)	(40		)	(239		)	2			(466		)
Asset Dispositions	—			—			1			—			1
Short Term Securities Acquired	—			—			(34		)	—			(34		)
Short Term Securities Redeemed	—			—			23			—			23
Capital Contributions and Loans Incurred	(93		)	—			(243		)	336			—
Capital Redemptions and Loans Paid	25			—			143			(168		)	—
Total Cash Flows from Investing Activities	(257		)	(40		)	(349		)	170			(476		)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	—			—			124			—			124
Short Term Debt and Overdrafts Paid	—			—			(36		)	—			(36		)
Long Term Debt Incurred	2,051			—			1,232			—			3,283
Long Term Debt Paid	(1,523		)	—			(1,408		)	—			(2,931		)
Common Stock Issued	3			—			—			—			3
Common Stock Repurchased	(150		)	—			—			—			(150		)
Common Stock Dividends Paid	(38		)	—			—			—			(38		)
Capital Contributions and Loans Incurred	243			59			34			(336		)	—
Capital Redemptions and Loans Paid	(143		)	(25		)	—			168			—
Intercompany Dividends Paid	—			—			(15		)	15			—
Transactions with Minority Interests in Subsidiaries	—			—			(7		)	—			(7		)
Debt Related Costs and Other Transactions	(66		)	—			(10		)	—			(76		)
Total Cash Flows from Financing Activities	377			34			(86		)	(153		)	172
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	—			2			20			—			22
Net Change in Cash, Cash Equivalents and Restricted Cash	(79		)	(15		)	(255		)	—			(349		)
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	$	282		$	52		$	819		$	—		$	1,153