Consolidating Financial Information (Tables)

3 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]



	Condensed Consolidating Balance Sheet
	March 31, 2018
(In millions)	Parent Company		Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	125	$	26		$	686	$	—		$	837
Accounts Receivable, net	628		126			1,755		—			2,509
Accounts Receivable From Affiliates	—		264			32		(296		)	—
Inventories	1,505		53			1,364		(27		)	2,895
Prepaid Expenses and Other Current Assets	82		1			162		2			247
Total Current Assets	2,340		470			3,999		(321		)	6,488
Goodwill	24		1			453		128			606
Intangible Assets	119		—			21		—			140
Deferred Income Taxes	1,552		33			451		3			2,039
Other Assets	216		50			539		—			805
Investments in Subsidiaries	4,601		537			—		(5,138		)	—
Property, Plant and Equipment, net	2,471		426			4,632		(27		)	7,502
Total Assets	$	11,323	$	1,517		$	10,095	$	(5,355	)	$	17,580
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	875	$	113		$	1,862	$	—		$	2,850
Accounts Payable to Affiliates	296		—			—		(296		)	—
Compensation and Benefits	303		16			215		—			534
Other Current Liabilities	342		(3		)	559		—			898
Notes Payable and Overdrafts	—		—			332		—			332
Long Term Debt and Capital Leases Due Within One Year	59		—			268		—			327
Total Current Liabilities	1,875		126			3,236		(296		)	4,941
Long Term Debt and Capital Leases	3,710		167			1,723		—			5,600
Compensation and Benefits	642		104			732		—			1,478
Deferred Income Taxes	—		—			101		—			101
Other Long Term Liabilities	359		9			130		—			498
Total Liabilities	6,586		406			5,922		(296		)	12,618
Commitments and Contingent Liabilities
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Common Stock	240		—			—		—			240
Other Equity	4,497		1,111			3,948		(5,059		)	4,497
Goodyear Shareholders’ Equity	4,737		1,111			3,948		(5,059		)	4,737
Minority Shareholders’ Equity — Nonredeemable	—		—			225		—			225
Total Shareholders’ Equity	4,737		1,111			4,173		(5,059		)	4,962
Total Liabilities and Shareholders’ Equity	$	11,323	$	1,517		$	10,095	$	(5,355	)	$	17,580



	Condensed Consolidating Balance Sheet
	December 31, 2017
(In millions)	Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	176	$	32	$	835	$	—		$	1,043
Accounts Receivable, net	649		116		1,260		—			2,025
Accounts Receivable From Affiliates	—		254		71		(325		)	—
Inventories	1,444		43		1,329		(29		)	2,787
Prepaid Expenses and Other Current Assets	59		3		157		5			224
Total Current Assets	2,328		448		3,652		(349		)	6,079
Goodwill	24		1		444		126			595
Intangible Assets	119		—		20		—			139
Deferred Income Taxes	1,549		35		424		—			2,008
Other Assets	221		51		518		2			792
Investments in Subsidiaries	4,424		503		—		(4,927		)	—
Property, Plant and Equipment, net	2,491		420		4,569		(29		)	7,451
Total Assets	$	11,156	$	1,458	$	9,627	$	(5,177	)	$	17,064
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	927	$	115	$	1,765	$	—		$	2,807
Accounts Payable to Affiliates	325		—		—		(325		)	—
Compensation and Benefits	322		15		202		—			539
Other Current Liabilities	323		2		701		—			1,026
Notes Payable and Overdrafts	—		—		262		—			262
Long Term Debt and Capital Leases Due Within One Year	60		—		331		—			391
Total Current Liabilities	1,957		132		3,261		(325		)	5,025
Long Term Debt and Capital Leases	3,544		152		1,380		—			5,076
Compensation and Benefits	682		109		724		—			1,515
Deferred Income Taxes	—		1		99		—			100
Other Long Term Liabilities	370		8		120		—			498
Total Liabilities	6,553		402		5,584		(325		)	12,214
Commitments and Contingent Liabilities
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Common Stock	240		—		—		—			240
Other Equity	4,363		1,056		3,796		(4,852		)	4,363
Goodyear Shareholders’ Equity	4,603		1,056		3,796		(4,852		)	4,603
Minority Shareholders’ Equity — Nonredeemable	—		—		247		—			247
Total Shareholders’ Equity	4,603		1,056		4,043		(4,852		)	4,850
Total Liabilities and Shareholders’ Equity	$	11,156	$	1,458	$	9,627	$	(5,177	)	$	17,064

Consolidating Statements of Operations



	Consolidating Statements of Operations
	Three Months Ended March 31, 2018
(In millions)	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Net Sales	$	1,684		$	309	$	2,457	$	(620	)	$	3,830
Cost of Goods Sold	1,365			273		1,978		(640		)	2,976
Selling, Administrative and General Expense	259			10		322		—			591
Rationalizations	6			—		31		—			37
Interest Expense	54			5		23		(6		)	76
Other (Income) Expense	10			7		—		20			37
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	(10		)	14		103		6			113
United States and Foreign Taxes	(3		)	3		30		3			33
Equity in Earnings of Subsidiaries	82			22		—		(104		)	—
Net Income (Loss)	75			33		73		(101		)	80
Less: Minority Shareholders’ Net Income	—			—		5		—			5
Goodyear Net Income (Loss)	$	75		$	33	$	68	$	(101	)	$	75
Comprehensive Income (Loss)	$	184		$	55	$	155	$	(203	)	$	191
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—		7		—			7
Goodyear Comprehensive Income (Loss)	$	184		$	55	$	148	$	(203	)	$	184



	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	1,378			273		1,794		(685		)	2,760
Selling, Administrative and General Expense	259			8		310		(1		)	576
Rationalizations	1			—		28		—			29
Interest Expense	65			2		31		(11		)	87
Other (Income) Expense	(17		)	4		—		21			8
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

Condensed Consolidating Statement of Cash Flows



	Condensed Consolidating Statement of Cash Flows
	Three Months Ended March 31, 2018
(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	$	266		$	—		$	(656	)	$	1		$	(389	)
Cash Flows from Investing Activities:
Capital Expenditures	(101		)	(28		)	(118		)	(1		)	(248		)
Short Term Securities Acquired	—			—			(8		)	—			(8		)
Short Term Securities Redeemed	—			—			8			—			8
Capital Contributions and Loans Incurred	(91		)	—			(91		)	182			—
Capital Redemptions and Loans Paid	38			—			360			(398		)	—
Total Cash Flows from Investing Activities	(154		)	(28		)	151			(217		)	(248		)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	325			—			259			—			584
Short Term Debt and Overdrafts Paid	(325		)	—			(193		)	—			(518		)
Long Term Debt Incurred	705			15			932			—			1,652
Long Term Debt Paid	(541		)	—			(685		)	—			(1,226		)
Common Stock Issued	1			—			—			—			1
Common Stock Repurchased	(25		)	—			—			—			(25		)
Common Stock Dividends Paid	(34		)	—			—			—			(34		)
Capital Contributions and Loans Incurred	91			8			83			(182		)	—
Capital Redemptions and Loans Paid	(360		)	—			(38		)	398			—
Transactions with Minority Interests in Subsidiaries	—			—			(22		)	—			(22		)
Debt Related Costs and Other Transactions	7			—			(20		)	—			(13		)
Total Cash Flows from Financing Activities	(156		)	23			316			216			399
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	—			(1		)	17			—			16
Net Change in Cash, Cash Equivalents and Restricted Cash	(44		)	(6		)	(172		)	—			(222		)
Cash, Cash Equivalents and Restricted Cash at Beginning of the Period	201			32			877			—			1,110
Cash, Cash Equivalents and Restricted Cash at End of the Period	$	157		$	26		$	705		$	—		$	888



	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