Consolidating Financial Information (Tables)

9 Months Ended

Sep. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Balance Sheet

	Condensed Consolidating Balance Sheet
	September 30, 2018
(In millions)	Parent Company		Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	127	$	26		$	743	$	—		$	896
Accounts Receivable, net	732		166			1,772		—			2,670
Accounts Receivable From Affiliates	235		192			—		(427		)	—
Inventories	1,506		71			1,393		(32		)	2,938
Prepaid Expenses and Other Current Assets	78		2			165		4			249
Total Current Assets	2,678		457			4,073		(455		)	6,753
Goodwill	24		1			423		124			572
Intangible Assets	118		—			19		—			137
Deferred Income Taxes	1,487		30			388		3			1,908
Other Assets	554		51			484		—			1,089
Investments in Subsidiaries	3,943		516			—		(4,459		)	—
Property, Plant and Equipment, net	2,455		434			4,268		(25		)	7,132
Total Assets	$	11,259	$	1,489		$	9,655	$	(4,812	)	$	17,591
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	921	$	121		$	1,777	$	—		$	2,819
Accounts Payable to Affiliates	—		—			427		(427		)	—
Compensation and Benefits	278		16			223		—			517
Other Current Liabilities	359		(7		)	443		—			795
Notes Payable and Overdrafts	25		—			420		—			445
Long Term Debt and Capital Leases Due Within One Year	58		—			413		—			471
Total Current Liabilities	1,641		130			3,703		(427		)	5,047
Long Term Debt and Capital Leases	3,873		167			1,564		—			5,604
Compensation and Benefits	575		97			678		—			1,350
Deferred Income Taxes	—		—			95		—			95
Other Long Term Liabilities	370		9			116		—			495
Total Liabilities	6,459		403			6,156		(427		)	12,591
Commitments and Contingent Liabilities
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Common Stock	233		—			—		—			233
Other Equity	4,567		1,086			3,299		(4,385		)	4,567
Goodyear Shareholders’ Equity	4,800		1,086			3,299		(4,385		)	4,800
Minority Shareholders’ Equity — Nonredeemable	—		—			200		—			200
Total Shareholders’ Equity	4,800		1,086			3,499		(4,385		)	5,000
Total Liabilities and Shareholders’ Equity	$	11,259	$	1,489		$	9,655	$	(4,812	)	$	17,591

	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 September 30, 2018
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	1,922		$	342		$	2,373		$	(709	)	$	3,928
Cost of Goods Sold	1,547			319			1,879			(717		)	3,028
Selling, Administrative and General Expense	239			8			306			—			553
Rationalizations	1			—			4			—			5
Interest Expense	55			6			28			(7		)	82
Other (Income) Expense	(295		)	3			11			28			(253		)
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	375			6			145			(13		)	513
United States and Foreign Taxes	111			1			48			(1		)	159
Equity in Earnings of Subsidiaries	87			10			—			(97		)	—
Net Income (Loss)	351			15			97			(109		)	354
Less: Minority Shareholders’ Net Income	—			—			3			—			3
Goodyear Net Income (Loss)	$	351		$	15		$	94		$	(109	)	$	351
Comprehensive Income (Loss)	$	290		$	(5	)	$	(3	)	$	2		$	284
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			(6		)	—			(6		)
Goodyear Comprehensive Income (Loss)	$	290		$	(5	)	$	3		$	2		$	290

	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	1,393			261			2,021		(621		)	3,054
Selling, Administrative and General Expense	225			9			311		—			545
Rationalizations	20			—			26		—			46
Interest Expense	62			2			34		(14		)	84
Other (Income) Expense	(37		)	(5		)	9		63			30
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
	Nine Months Ended September 30, 2018
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	5,440		$	980		$	7,236		$	(2,057	)	$	11,599
Cost of Goods Sold	4,376			927			5,756			(2,106		)	8,953
Selling, Administrative and General Expense	756			26			950			—			1,732
Rationalizations	6			—			34			—			40
Interest Expense	165			16			73			(18		)	236
Other (Income) Expense	(271		)	13			19			68			(171		)
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	408			(2		)	404			(1		)	809
United States and Foreign Taxes	71			(1		)	140			1			211
Equity in Earnings of Subsidiaries	246			44			—			(290		)	—
Net Income (Loss)	583			43			264			(292		)	598
Less: Minority Shareholders’ Net Income	—			—			15			—			15
Goodyear Net Income (Loss)	$	583		$	43		$	249		$	(292	)	$	583
Comprehensive Income (Loss)	$	476		$	25		$	29		$	(64	)	$	466
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			(10		)	—			(10		)
Goodyear Comprehensive Income (Loss)	$	476		$	25		$	39		$	(64	)	$	476

	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	4,230			818		5,655			(2,104		)	8,599
Selling, Administrative and General Expense	731			26		943			—			1,700
Rationalizations	22			—		80			—			102
Interest Expense	196			6		96			(38		)	260
Other (Income) Expense	(50		)	1		(6		)	109			54
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

Condensed Consolidating Statement of Cash Flows

	Condensed Consolidating Statement of Cash Flows
	Nine Months Ended September 30, 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	$	815		$	(5	)	$	(295	)	$	(539	)	$	(24	)
Cash Flows from Investing Activities:
Capital Expenditures	(248		)	(55		)	(311		)	(1		)	(615		)
Asset Dispositions	—			2			—			—			2
Short Term Securities Acquired	—			—			(61		)	—			(61		)
Short Term Securities Redeemed	—			—			61			—			61
Capital Contributions and Loans Incurred	(597		)	—			(213		)	810			—
Capital Redemptions and Loans Paid	193			—			430			(623		)	—
Notes Receivable	(50		)	—			—			—			(50		)
Other Transactions	3			—			(4		)	—			(1		)
Total Cash Flows from Investing Activities	(699		)	(53		)	(98		)	186			(664		)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	800			—			658			—			1,458
Short Term Debt and Overdrafts Paid	(775		)	—			(492		)	—			(1,267		)
Long Term Debt Incurred	2,305			15			2,384			—			4,704
Long Term Debt Paid	(1,982		)	—			(2,010		)	—			(3,992		)
Common Stock Issued	4			—			—			—			4
Common Stock Repurchased	(200		)	—			—			—			(200		)
Common Stock Dividends Paid	(100		)	—			—			—			(100		)
Capital Contributions and Loans Incurred	213			52			545			(810		)	—
Capital Redemptions and Loans Paid	(430		)	(14		)	(179		)	623			—
Intercompany Dividends Paid	—			—			(540		)	540			—
Transactions with Minority Interests in Subsidiaries	—			—			(27		)	—			(27		)
Debt Related Costs and Other Transactions	16			—			(19		)	—			(3		)
Total Cash Flows from Financing Activities	(149		)	53			320			353			577
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	—			(1		)	(36		)	—			(37		)
Net Change in Cash, Cash Equivalents and Restricted Cash	(33		)	(6		)	(109		)	—			(148		)
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	$	168		$	26		$	768		$	—		$	962

	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