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Cooper Tire Acquisition - Calculation of Merger Consideration (Details)
$ / shares in Units, $ in Millions
Jun. 07, 2021
USD ($)
$ / shares
shares
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Business Acquisition [Line Items]        
Merger Consideration $ 3,097      
Goodwill   $ 1,004 $ 408 $ 565
Cooper Tire Stockholders [Member]        
Business Acquisition [Line Items]        
Common stock, shares issued | shares 46,060,349      
Cooper Tire [Member]        
Business Acquisition [Line Items]        
Cash paid for Cooper Tire Shares [1] $ 2,121      
Cash paid for other Cooper Tire incentive compensation awards [2] 34      
Cash component of the Merger Consideration $ 2,155      
Share price (per share) | $ / shares $ 41.75      
Cooper Tire Shares | shares 50,793,160      
Less: Cooper Tire Shares settled in cash | shares [3] 9,975      
Cooper Tire Share, net of settlement | shares 50,783,185      
Exchange ratio 0.907      
Property, Plant and Equipment $ 1,348      
Cooper Tire [Member] | Updated Preliminary Purchase Price Allocation [Member]        
Business Acquisition [Line Items]        
Merger Consideration 3,097      
Cash and Cash Equivalents 231      
Accounts Receivable 541      
Inventories 695      
Property, Plant and Equipment 1,348      
Goodwill 618      
Intangible Assets 926      
Other Assets 357      
Assets, Total 4,716      
Accounts Payable - Trade 381      
Compensation and Benefits 356      
Debt, Finance Leases and Notes Payable and Overdrafts 151      
Deferred Tax Liabilities, net 292      
Other Liabilities 418      
Minority Equity 21      
Liabilities, Total 1,619      
Cooper Tire [Member] | Measurement Period Changes [Member]        
Business Acquisition [Line Items]        
Cash and Cash Equivalents 0      
Accounts Receivable (80)      
Inventories 2      
Property, Plant and Equipment (24)      
Goodwill 143      
Intangible Assets (160)      
Other Assets (5)      
Assets, Total (124)      
Accounts Payable - Trade (83)      
Compensation and Benefits (30)      
Debt, Finance Leases and Notes Payable and Overdrafts 0      
Deferred Tax Liabilities, net (55)      
Other Liabilities 44      
Minority Equity 0      
Liabilities, Total (124)      
Merger Consideration (0)      
Cooper Tire [Member] | Initial Preliminary Purchase Price Allocation [Member]        
Business Acquisition [Line Items]        
Merger Consideration 3,097      
Cash and Cash Equivalents 231      
Accounts Receivable 621      
Inventories 693      
Property, Plant and Equipment 1,372      
Goodwill 475      
Intangible Assets 1,086      
Other Assets 362      
Assets, Total 4,840      
Accounts Payable - Trade 464      
Compensation and Benefits 386      
Debt, Finance Leases and Notes Payable and Overdrafts 151      
Deferred Tax Liabilities, net 347      
Other Liabilities 374      
Minority Equity 21      
Liabilities, Total $ 1,743      
Cooper Tire [Member] | Equity-Based Compensation Plan        
Business Acquisition [Line Items]        
Cooper Tire Shares | shares 269,238      
Cooper Tire [Member] | Common Stock [Member]        
Business Acquisition [Line Items]        
Cooper Tire Shares | shares 50,523,922      
Cooper Tire [Member] | Cooper Tire Stockholders [Member]        
Business Acquisition [Line Items]        
Common stock, shares issued | shares [4] 46,060,349      
Share price (per share) | $ / shares [4],[5] $ 20.46      
Share price, Total [4] $ 942      
[1] The cash component of the Merger Consideration is computed based on 100% of the outstanding shares of Cooper Tire common stock as of the Closing Date, including shares issuable pursuant to the conversion of certain equity-based awards outstanding under Cooper Tire’s equity-based incentive compensation plans (“Cooper Tire Shares”), being exchanged, in part, for the per share cash amount of $41.75. Awards outstanding under Cooper Tire equity-based incentive compensation plans that were converted include Cooper Tire restricted stock units and Cooper Tire performance stock units. These Cooper Tire equity-based awards were canceled and each share equivalent unit was converted, as appropriate, into the Merger Consideration.
[2] Cash consideration for the settlement of outstanding Cooper Tire stock options, Cooper Tire performance cash units and Cooper Tire notional deferred stock units, all of which were cancelled at the Closing Date and paid in cash.
[3] Represents fractional and certain other shares that were settled in cash.
[4] The stock component of the Merger Consideration is computed based on a fixed exchange ratio of 0.907 shares of Goodyear common stock per Cooper Tire Share being exchanged. Shares issued of 46,060,349 are comprised of 45,824,480 newly issued shares and 235,869 shares issued from treasury.
[5] Represents the closing market price of our common stock as of June 4, 2021, the last trading day prior to the Closing Date.