Consolidating Financial Information (Tables)

9 Months Ended

Sep. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]



	Condensed Consolidating Balance Sheet
	September 30, 2017
(In millions)	Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	59	$	36	$	727	$	—		$	822
Accounts Receivable, net	660		153		1,859		—			2,672
Accounts Receivable From Affiliates	—		144		260		(404		)	—
Inventories	1,582		52		1,401		(44		)	2,991
Prepaid Expenses and Other Current Assets	73		2		165		2			242
Total Current Assets	2,374		387		4,412		(446		)	6,727
Goodwill	24		1		435		127			587
Intangible Assets	117		—		20		—			137
Deferred Income Taxes	1,883		39		434		—			2,356
Other Assets	215		53		443		3			714
Investments in Subsidiaries	4,689		592		—		(5,281		)	—
Property, Plant and Equipment, net	2,469		403		4,486		(27		)	7,331
Total Assets	$	11,771	$	1,475	$	10,230	$	(5,624	)	$	17,852
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	822	$	104	$	1,698	$	—		$	2,624
Accounts Payable to Affiliates	404		—		—		(404		)	—
Compensation and Benefits	306		16		260		—			582
Other Current Liabilities	342		9		711		—			1,062
Notes Payable and Overdrafts	30		—		246		—			276
Long Term Debt and Capital Leases Due Within One Year	4		—		374		—			378
Total Current Liabilities	1,908		129		3,289		(404		)	4,922
Long Term Debt and Capital Leases	3,974		52		1,711		—			5,737
Compensation and Benefits	620		104		735		—			1,459
Deferred Income Taxes	—		1		90		—			91
Other Long Term Liabilities	387		11		124		—			522
Total Liabilities	6,889		297		5,949		(404		)	12,731
Commitments and Contingent Liabilities
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Common Stock	246		—		—		—			246
Other Equity	4,636		1,178		4,042		(5,220		)	4,636
Goodyear Shareholders’ Equity	4,882		1,178		4,042		(5,220		)	4,882
Minority Shareholders’ Equity — Nonredeemable	—		—		239		—			239
Total Shareholders’ Equity	4,882		1,178		4,281		(5,220		)	5,121
Total Liabilities and Shareholders’ Equity	$	11,771	$	1,475	$	10,230	$	(5,624	)	$	17,852



	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 September 30, 2017
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Net Sales	$	1,790		$	294		$	2,448	$	(611	)	$	3,921
Cost of Goods Sold	1,402			264			2,024		(621		)	3,069
Selling, Administrative and General Expense	233			10			313		—			556
Rationalizations	20			—			26		—			46
Interest Expense	62			2			34		(14		)	84
Other (Income) Expense	(54		)	(9		)	4		63			4
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	127			27			47		(39		)	162
United States and Foreign Taxes	9			6			12		3			30
Equity in Earnings of Subsidiaries	11			(3		)	—		(8		)	—
Net Income (Loss)	129			18			35		(50		)	132
Less: Minority Shareholders’ Net Income	—			—			3		—			3
Goodyear Net Income (Loss)	$	129		$	18		$	32	$	(50	)	$	129
Comprehensive Income (Loss)	$	166		$	16		$	86	$	(98	)	$	170
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			4		—			4
Goodyear Comprehensive Income (Loss)	$	166		$	16		$	82	$	(98	)	$	166



	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	$	1,888		$	323	$	2,319		$	(683	)	$	3,847
Cost of Goods Sold	1,394			298		1,737			(693		)	2,736
Selling, Administrative and General Expense	268			9		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	179			14		115			2			310
United States and Foreign Taxes	(55		)	3		41			1			(10		)
Equity in Earnings of Subsidiaries	83			10		—			(93		)	—
Net Income (Loss)	317			21		74			(92		)	320
Less: Minority Shareholders’ Net Income	—			—		3			—			3
Goodyear Net Income (Loss)	$	317		$	21	$	71		$	(92	)	$	317
Comprehensive Income (Loss)	$	322		$	21	$	70		$	(88	)	$	325
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—		3			—			3
Goodyear Comprehensive Income (Loss)	$	322		$	21	$	67		$	(88	)	$	322



	Consolidating Statements of Operations
	Nine Months Ended September 30, 2017
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	5,420		$	883		$	7,066		$	(2,063	)	$	11,306
Cost of Goods Sold	4,244			824			5,662			(2,104		)	8,626
Selling, Administrative and General Expense	740			29			949			—			1,718
Rationalizations	22			—			80			—			102
Interest Expense	196			6			96			(38		)	260
Other (Income) Expense	(73		)	(8		)	(19		)	109			9
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	291			32			298			(30		)	591
United States and Foreign Taxes	69			6			61			—			136
Equity in Earnings of Subsidiaries	220			28			—			(248		)	—
Net Income (Loss)	442			54			237			(278		)	455
Less: Minority Shareholders’ Net Income	—			—			13			—			13
Goodyear Net Income (Loss)	$	442		$	54		$	224		$	(278	)	$	442
Comprehensive Income (Loss)	$	625		$	57		$	426		$	(456	)	$	652
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			27			—			27
Goodyear Comprehensive Income (Loss)	$	625		$	57		$	399		$	(456	)	$	625



	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	$	5,564		$	988	$	6,922		$	(2,057	)	$	11,417
Cost of Goods Sold	4,131			922		5,311			(2,114		)	8,250
Selling, Administrative and General Expense	799			30		979			(1		)	1,807
Rationalizations	12			—		182			—			194
Interest Expense	210			9		77			(11		)	285
Other (Income) Expense	(29		)	1		(17		)	48			3
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	441			26		390			21			878
United States and Foreign Taxes	50			2		104			5			161
Equity in Earnings of Subsidiaries	312			31		—			(343		)	—
Net Income (Loss)	703			55		286			(327		)	717
Less: Minority Shareholders’ Net Income	—			—		14			—			14
Goodyear Net Income (Loss)	$	703		$	55	$	272		$	(327	)	$	703
Comprehensive Income (Loss)	$	756		$	35	$	311		$	(330	)	$	772
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—		16			—			16
Goodyear Comprehensive Income (Loss)	$	756		$	35	$	295		$	(330	)	$	756

Condensed Consolidating Statement of Cash Flows



	Condensed Consolidating Statement of Cash Flows
	Nine Months Ended September 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	$	179		$	—		$	(303	)	$	(30	)	$	(154	)
Cash Flows from Investing Activities:
Capital Expenditures	(247		)	(115		)	(323		)	2			(683		)
Asset Dispositions	1			—			8			—			9
Short Term Securities Acquired	—			—			(51		)	—			(51		)
Short Term Securities Redeemed	—			—			51			—			51
Capital Contributions and Loans Incurred	(75		)	—			(41		)	116			—
Capital Redemptions and Loans Paid	21			—			61			(82		)	—
Other Transactions	—			—			(1		)	—			(1		)
Total Cash Flows from Investing Activities	(300		)	(115		)	(296		)	36			(675		)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	175			—			369			—			544
Short Term Debt and Overdrafts Paid	(145		)	—			(378		)	—			(523		)
Long Term Debt Incurred	2,597			52			2,323			—			4,972
Long Term Debt Paid	(2,310		)	—			(1,883		)	—			(4,193		)
Common Stock Issued	12			—			—			—			12
Common Stock Repurchased	(205		)	—			—			—			(205		)
Common Stock Dividends Paid	(75		)	—			—			—			(75		)
Capital Contributions and Loans Incurred	41			62			13			(116		)	—
Capital Redemptions and Loans Paid	(61		)	(21		)	—			82			—
Intercompany Dividends Paid	—			—			(28		)	28			—
Transactions with Minority Interests in Subsidiaries	—			—			(6		)	—			(6		)
Debt Related Costs and Other Transactions	(38		)	—			(31		)	—			(69		)
Total Cash Flows from Financing Activities	(9		)	93			379			(6		)	457
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	—			3			48			—			51
Net Change in Cash, Cash Equivalents and Restricted Cash	(130		)	(19		)	(172		)	—			(321		)
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	$	80		$	36		$	752		$	—		$	868



	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	$	31		$	26		$	261		$	(28	)	$	290
Cash Flows from Investing Activities:
Capital Expenditures	(271		)	(69		)	(375		)	4			(711		)
Asset Dispositions	11			—			2			—			13
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	(377		)	(69		)	(483		)	221			(708		)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	—			—			219			—			219
Short Term Debt and Overdrafts Paid	—			—			(99		)	—			(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	(66		)	—			(11		)	—			(77		)
Total Cash Flows from Financing Activities	92			34			(42		)	(193		)	(109		)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	—			1			24			—			25
Net Change in Cash, Cash Equivalents and Restricted Cash	(254		)	(8		)	(240		)	—			(502		)
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	$	107		$	59		$	834		$	—		$	1,000