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Revision of Previously Issued Financial Statements
 6 Months Ended
Jun. 30, 2025
Accounting Changes and Error Corrections [Abstract]  
Revision of Previously Issued Financial Statements REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS
As discussed in Note 1, in preparing the consolidated financial statements as of and for the three and six months ended June 30, 2025, we identified errors in our previously issued financial statements related to our historical computation of currency remeasurement of our foreign operations in Turkey, which was designated as a highly inflationary economy beginning April 1, 2022. The identified errors impacted our previously issued 2022, 2023 and 2024 annual and interim financial statements. The impact of the errors on the previously issued consolidated statements of operations and comprehensive income for the quarter ended March 31, 2025 were de minimis. There were no impacts on previously reported cash flows from operating, investing and financing activities in any prior periods.
We evaluated the errors in accordance with SEC Staff Accounting Bulletin Nos. 99 and 108 and determined that the related impacts were not material in any previously issued annual or interim financial statements. We revised the prior period amounts presented in these financial statements to correct the errors. The applicable notes to the accompanying financial statements have also been corrected to reflect the impact of the revisions of the previously filed consolidated interim financial statements.
The following tables reflect the impact of the revision to the specific line items presented in our previously reported financial information.
Impacts to Consolidated Statements of Operations and Comprehensive Income (in millions, except per share data)
Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022
As ReportedRevisionAs RevisedAs ReportedRevisionAs RevisedAs ReportedRevisionAs Revised
Cost of Goods Sold$15,176 $16 $15,192 $16,557 $25 $16,582 $16,953 $2 $16,955 
Other Expense (1)
$125 $9 $134 $212 $19 $231 $197 $12 $209 
Net Income (Loss)
$60 $(25)$35 $(687)$(44)$(731)$209 $(14)$195 
Minority Shareholders’ Net Income (Loss)$(10)$(1)$(11)$2 $(4)$(2)$7 $(3)$4 
Goodyear Net Income (Loss)
$70 $(24)$46 $(689)$(40)$(729)$202 $(11)$191 
Comprehensive Income (Loss)$50 $(25)$25 $(643)$(44)$(687)$280 $(14)$266 
Comprehensive Income (Loss) Attributable to Minority Shareholders$(11)$(1)$(12)$6 $(4)$2 $(10)$(3)$(13)
Goodyear Comprehensive Income (Loss)$61 $(24)$37 $(649)$(40)$(689)$290 $(11)$279 
Basic EPS$0.24 $(0.08)$0.16 $(2.42)$(0.14)$(2.56)$0.71 $(0.04)$0.67 
Diluted EPS$0.24 $(0.08)$0.16 $(2.42)$(0.14)$(2.56)$0.71 $(0.04)$0.67 
(1) Other Expense also reflects the reclassification of Net (Gain) Loss on Asset Sales of $(122) million, $(104) million, and $(93) million for the years ended December 31, 2022, 2023 and 2024, respectively, to conform to the current presentation.
Nine Months Ended September 30, 2024Three Months Ended September 30, 2024Six Months Ended June 30, 2024Three Months Ended June 30, 2024Three Months Ended March 31, 2024
As ReportedRevisionAs RevisedAs ReportedRevisionAs RevisedAs ReportedRevisionAs RevisedAs ReportedRevisionAs RevisedAs ReportedRevisionAs Revised
Cost of Goods Sold$11,218 $13 $11,231 $3,881 $1 $3,882 $7,337 $12 $7,349 $3,622 $5 $3,627 $3,715 $7 $3,722 
Other Expense (1)
$87 $8 $95 $35 $1 $36 $52 $7 $59 $24 $2 $26 $28 $5 $33 
Net Income (Loss)
$(12)$(21)$(33)$(34)$(2)$(36)$22 $(19)$3 $80 $(7)$73 $(58)$(12)$(70)
Minority Shareholders’ Net Income (Loss)$(6)$— $(6)$— $1 $1 $(6)$(1)$(7)$(5)$(1)$(6)$(1)$— $(1)
Goodyear Net Income (Loss)
$(6)$(21)$(27)$(34)$(3)$(37)$28 $(18)$10 $85 $(6)$79 $(57)$(12)$(69)
Comprehensive Income (Loss)$55 $(21)$34 $44 $(2)$42 $11 $(19)$(8)$56 $(7)$49 $(45)$(12)$(57)
Comprehensive Income (Loss) Attributable to Minority Shareholders$(2)$— $(2)$8 $1 $9 $(10)$(1)$(11)$(6)$(1)$(7)$(4)$— $(4)
Goodyear Comprehensive Income (Loss)$57 $(21)$36 $36 $(3)$33 $21 $(18)$3 $62 $(6)$56 $(41)$(12)$(53)
Basic EPS$(0.02)$(0.07)$(0.09)$(0.12)$(0.01)$(0.13)$0.10 $(0.06)$0.04 $0.30 $(0.02)$0.28 $(0.20)$(0.04)$(0.24)
Diluted EPS$(0.02)$(0.07)$(0.09)$(0.12)$(0.01)$(0.13)$0.10 $(0.06)$0.04 $0.30 $(0.02)$0.28 $(0.20)$(0.04)$(0.24)
(1) Other Expense also reflects the reclassification of Net (Gain) Loss on Asset Sales of $2 million, $(96) million and $(1) million for the three months ended March 31, 2024, June 30, 2024, and September 30, 2024, respectively, $(94) million for the six months ended June 30, 2024, and $(95) million for the nine months ended September 30, 2024, to conform to the current presentation.
Impacts to Consolidated Balance Sheets and Statements of Shareholders' Equity (in millions)
December 31, 2024December 31, 2023
As ReportedRevisionAs RevisedAs ReportedRevisionAs Revised
Inventories$3,597 $(43)$3,554 $3,698 $(27)$3,671 
Total Current Assets$7,632 $(43)$7,589 $7,650 $(27)$7,623 
Total Assets$20,964 $(43)$20,921 $21,582 $(27)$21,555 
Accounts Payable — Trade$4,052 $40 $4,092 $4,326 $31 $4,357 
Total Current Liabilities$7,337 $40 $7,377 $7,147 $31 $7,178 
Total Liabilities$16,058 $40 $16,098 $16,745 $31 $16,776 
Retained Earnings$5,156 $(75)$5,081 $5,086 $(51)$5,035 
Goodyear Shareholders' Equity$4,756 $(75)$4,681 $4,668 $(51)$4,617 
Minority Shareholders' Equity$150 $(8)$142 $169 $(7)$162 
Total Shareholders' Equity$4,906 $(83)$4,823 $4,837 $(58)$4,779 
Total Liabilities and Shareholders' Equity$20,964 $(43)$20,921 $21,582 $(27)$21,555