Consolidating Financial Information (Tables)

3 Months Ended

Mar. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]



	Condensed Consolidating Balance Sheet
	March 31, 2019
(In millions)	Parent Company		Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	189	$	26		$	645	$	—		$	860
Accounts Receivable, net	721		123			1,602		—			2,446
Accounts Receivable From Affiliates	337		258			—		(595		)	—
Inventories	1,511		66			1,395		(32		)	2,940
Prepaid Expenses and Other Current Assets	74		2			164		6			246
Total Current Assets	2,832		475			3,806		(621		)	6,492
Goodwill	24		1			416		122			563
Intangible Assets	117		—			19		—			136
Deferred Income Taxes	1,452		27			382		3			1,864
Other Assets	515		50			595		—			1,160
Investments in Subsidiaries	3,776		436			—		(4,212		)	—
Operating Lease Right-of-Use Assets	568		14			280		—			862
Property, Plant and Equipment, net	2,459		429			4,333		(25		)	7,196
Total Assets	$	11,743	$	1,432		$	9,831	$	(4,733	)	$	18,273
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	909	$	118		$	1,710	$	—		$	2,737
Accounts Payable to Affiliates	—		—			595		(595		)	—
Compensation and Benefits	284		15			193		—			492
Other Current Liabilities	302		(6		)	398		—			694
Notes Payable and Overdrafts	55		—			440		—			495
Operating Lease Liabilities due Within One Year	110		4			89		—			203
Long Term Debt and Finance Leases due Within One Year	1		—			465		—			466
Total Current Liabilities	1,661		131			3,890		(595		)	5,087
Operating Lease Liabilities	466		10			191		—			667
Long Term Debt and Finance Leases	3,918		167			1,460		—			5,545
Compensation and Benefits	541		93			665		—			1,299
Deferred Income Taxes	—		—			94		—			94
Other Long Term Liabilities	349		8			193		—			550
Total Liabilities	6,935		409			6,493		(595		)	13,242
Commitments and Contingent Liabilities
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Common Stock	232		—			—		—			232
Other Equity	4,576		1,023			3,115		(4,138		)	4,576
Goodyear Shareholders’ Equity	4,808		1,023			3,115		(4,138		)	4,808
Minority Shareholders’ Equity — Nonredeemable	—		—			223		—			223
Total Shareholders’ Equity	4,808		1,023			3,338		(4,138		)	5,031
Total Liabilities and Shareholders’ Equity	$	11,743	$	1,432		$	9,831	$	(4,733	)	$	18,273



	Condensed Consolidating Balance Sheet
	December 31, 2018
(In millions)	Parent Company		Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	127	$	30		$	644	$	—		$	801
Accounts Receivable, net	672		110			1,248		—			2,030
Accounts Receivable From Affiliates	294		280			—		(574		)	—
Inventories	1,425		71			1,387		(27		)	2,856
Prepaid Expenses and Other Current Assets	76		3			155		4			238
Total Current Assets	2,594		494			3,434		(597		)	5,925
Goodwill	24		1			420		124			569
Intangible Assets	117		—			19		—			136
Deferred Income Taxes	1,422		27			395		3			1,847
Other Assets	524		48			564		—			1,136
Investments in Subsidiaries	3,758		445			—		(4,203		)	—
Operating Lease Right-of-Use Assets	—		—			—		—			—
Property, Plant and Equipment, net	2,482		430			4,371		(24		)	7,259
Total Assets	$	10,921	$	1,445		$	9,203	$	(4,697	)	$	16,872
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	960	$	131		$	1,829	$	—		$	2,920
Accounts Payable to Affiliates	—		—			574		(574		)	—
Compensation and Benefits	286		14			171		—			471
Other Current Liabilities	310		(4		)	431		—			737
Notes Payable and Overdrafts	25		—			385		—			410
Operating Lease Liabilities due Within One Year	—		—			—		—			—
Long Term Debt and Finance Leases Due Within One Year	2		—			241		—			243
Total Current Liabilities	1,583		141			3,631		(574		)	4,781
Operating Lease Liabilities	—		—			—		—			—
Long Term Debt and Finance Leases	3,550		167			1,393		—			5,110
Compensation and Benefits	569		93			683		—			1,345
Deferred Income Taxes	—		—			95		—			95
Other Long Term Liabilities	355		8			108		—			471
Total Liabilities	6,057		409			5,910		(574		)	11,802
Commitments and Contingent Liabilities
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Common Stock	232		—			—		—			232
Other Equity	4,632		1,036			3,087		(4,123		)	4,632
Goodyear Shareholders’ Equity	4,864		1,036			3,087		(4,123		)	4,864
Minority Shareholders’ Equity — Nonredeemable	—		—			206		—			206
Total Shareholders’ Equity	4,864		1,036			3,293		(4,123		)	5,070
Total Liabilities and Shareholders’ Equity	$	10,921	$	1,445		$	9,203	$	(4,697	)	$	16,872

Consolidating Statements of Operations



	Consolidating Statements of Operations
	Three Months Ended March 31, 2019
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	1,673		$	327		$	2,299		$	(701	)	$	3,598
Cost of Goods Sold	1,371			310			1,911			(713		)	2,879
Selling, Administrative and General Expense	253			8			286			—			547
Rationalizations	6			—			97			—			103
Interest Expense	55			6			33			(9		)	85
Other (Income) Expense	74			4			(81		)	25			22
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	(86		)	(1		)	53			(4		)	(38		)
United States and Foreign Taxes	(26		)	—			31			1			6
Equity in Earnings of Subsidiaries	(1		)	(15		)	—			16			—
Net Income (Loss)	(61		)	(16		)	22			11			(44		)
Less: Minority Shareholders’ Net Income	—			—			17			—			17
Goodyear Net Income (Loss)	$	(61	)	$	(16	)	$	5		$	11		$	(61	)
Comprehensive Income (Loss)	$	1		$	(14	)	$	57		$	(26	)	$	18
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			17			—			17
Goodyear Comprehensive Income (Loss)	$	1		$	(14	)	$	40		$	(26	)	$	1



	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

Condensed Consolidating Statement of Cash Flows



	Condensed Consolidating Statement of Cash Flows
	Three Months Ended March 31, 2019
(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	$	(75	)	$	(26	)	$	(253	)	$	(10	)	$	(364	)
Cash Flows from Investing Activities:
Capital Expenditures	(90		)	(11		)	(120		)	—			(221		)
Short Term Securities Acquired	—			—			(31		)	—			(31		)
Short Term Securities Redeemed	—			—			31			—			31
Capital Contributions and Loans Incurred	(196		)	—			—			196			—
Capital Redemptions and Loans Paid	104			—			—			(104		)	—
Notes Receivable	(7		)	—			—			—			(7		)
Other Transactions	—			—			(16		)	—			(16		)
Total Cash Flows from Investing Activities	(189		)	(11		)	(136		)	92			(244		)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	299			—			272			—			571
Short Term Debt and Overdrafts Paid	(269		)	—			(216		)	—			(485		)
Long Term Debt Incurred	923			—			927			—			1,850
Long Term Debt Paid	(590		)	—			(633		)	—			(1,223		)
Common Stock Dividends Paid	(37		)	—			—			—			(37		)
Capital Contributions and Loans Incurred	—			34			162			(196		)	—
Capital Redemptions and Loans Paid	—			—			(104		)	104			—
Intercompany Dividends Paid	—			—			(10		)	10			—
Debt Related Costs and Other Transactions	(3		)	—			(28		)	—			(31		)
Total Cash Flows from Financing Activities	323			34			370			(82		)	645
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	—			(1		)	1			—			—
Net Change in Cash, Cash Equivalents and Restricted Cash	59			(4		)	(18		)	—			37
Cash, Cash Equivalents and Restricted Cash at Beginning of the Period	168			30			675			—			873
Cash, Cash Equivalents and Restricted Cash at End of the Period	$	227		$	26		$	657		$	—		$	910



	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