Consolidating Financial Information (Tables)

6 Months Ended

Jun. 30, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Balance Sheet

	Condensed Consolidating Balance Sheet
	June 30, 2016
(In millions)	Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	275	$	55	$	808	$	—		$	1,138
Accounts Receivable, net	805		177		1,493		—			2,475
Accounts Receivable From Affiliates	—		494		—		(494		)	—
Inventories	1,360		144		1,229		(47		)	2,686
Prepaid Expenses and Other Current Assets	51		3		113		2			169
Total Current Assets	2,491		873		3,643		(539		)	6,468
Goodwill	—		24		412		124			560
Intangible Assets	118		—		20		—			138
Deferred Income Taxes	1,926		19		83		—			2,028
Other Assets	231		88		380		7			706
Investments in Subsidiaries	4,304		427		—		(4,731		)	—
Property, Plant and Equipment, net	2,375		249		4,363		(27		)	6,960
Total Assets	$	11,445	$	1,680	$	8,901	$	(5,166	)	$	16,860
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	870	$	138	$	1,635	$	—		$	2,643
Accounts Payable to Affiliates	318		—		176		(494		)	—
Compensation and Benefits	326		29		250		—			605
Other Current Liabilities	294		18		551		(8		)	855
Notes Payable and Overdrafts	—		—		145		—			145
Long Term Debt and Capital Leases Due Within One Year	6		—		340		—			346
Total Current Liabilities	1,814		185		3,097		(502		)	4,594
Long Term Debt and Capital Leases	4,324		—		1,421		—			5,745
Compensation and Benefits	642		96		655		—			1,393
Deferred Income Taxes	—		1		89		—			90
Other Long Term Liabilities	483		11		136		—			630
Total Liabilities	7,263		293		5,398		(502		)	12,452
Commitments and Contingent Liabilities
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Common Stock	262		—		—		—			262
Other Equity	3,920		1,387		3,277		(4,664		)	3,920
Goodyear Shareholders’ Equity	4,182		1,387		3,277		(4,664		)	4,182
Minority Shareholders’ Equity — Nonredeemable	—		—		226		—			226
Total Shareholders’ Equity	4,182		1,387		3,503		(4,664		)	4,408
Total Liabilities and Shareholders’ Equity	$	11,445	$	1,680	$	8,901	$	(5,166	)	$	16,860

	Condensed Consolidating Balance Sheet
	December 31, 2015
(In millions)	Parent Company		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	354	$	70	$	1,052	$	—		$	1,476
Accounts Receivable, net	814		136		1,083		—			2,033
Accounts Receivable From Affiliates	—		609		—		(609		)	—
Inventories	1,199		157		1,152		(44		)	2,464
Prepaid Expenses and Other Current Assets	42		3		105		3			153
Total Current Assets	2,409		975		3,392		(650		)	6,126
Goodwill	—		24		407		124			555
Intangible Assets	118		—		20		—			138
Deferred Income Taxes	2,049		19		73		—			2,141
Other Assets	216		81		350		7			654
Investments in Subsidiaries	4,088		383		—		(4,471		)	—
Property, Plant and Equipment, net	2,377		216		4,213		(29		)	6,777
Total Assets	$	11,257	$	1,698	$	8,455	$	(5,019	)	$	16,391
Liabilities:
Current Liabilities:
Accounts Payable-Trade	$	1,002	$	189	$	1,578	$	—		$	2,769
Accounts Payable to Affiliates	540		—		69		(609		)	—
Compensation and Benefits	411		29		226		—			666
Other Current Liabilities	328		16		547		(5		)	886
Notes Payable and Overdrafts	—		—		49		—			49
Long Term Debt and Capital Leases Due Within One Year	6		—		579		—			585
Total Current Liabilities	2,287		234		3,048		(614		)	4,955
Long Term Debt and Capital Leases	3,796		—		1,278		—			5,074
Compensation and Benefits	725		97		646		—			1,468
Deferred Income Taxes	—		1		92		(2		)	91
Other Long Term Liabilities	529		15		119		(2		)	661
Total Liabilities	7,337		347		5,183		(618		)	12,249
Commitments and Contingent Liabilities
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Common Stock	267		—		—		—			267
Other Equity	3,653		1,351		3,050		(4,401		)	3,653
Goodyear Shareholders’ Equity	3,920		1,351		3,050		(4,401		)	3,920
Minority Shareholders’ Equity — Nonredeemable	—		—		222		—			222
Total Shareholders’ Equity	3,920		1,351		3,272		(4,401		)	4,142
Total Liabilities and Shareholders’ Equity	$	11,257	$	1,698	$	8,455	$	(5,019	)	$	16,391

Consolidating Statements of Operations

	Consolidating Statements of Operations
	Three Months Ended June 30, 2016
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Net Sales	$	1,788		$	476		$	2,025	$	(410	)	$	3,879
Cost of Goods Sold	1,328			430			1,475		(420		)	2,813
Selling, Administrative and General Expense	234			38			321		—			593
Rationalizations	3			—			45		—			48
Interest Expense	79			3			22		—			104
Other (Income) Expense	(1		)	—			7		14			20
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	145			5			155		(4		)	301
United States and Foreign Taxes	49			2			37		5			93
Equity in Earnings of Subsidiaries	106			1			—		(107		)	—
Net Income (Loss)	202			4			118		(116		)	208
Less: Minority Shareholders’ Net Income	—			—			6		—			6
Goodyear Net Income (Loss)	$	202		$	4		$	112	$	(116	)	$	202
Comprehensive Income (Loss)	$	190		$	(1	)	$	86	$	(84	)	$	191
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			1		—			1
Goodyear Comprehensive Income (Loss)	$	190		$	(1	)	$	85	$	(84	)	$	190

	Consolidating Statements of Operations
	Three Months Ended June 30, 2015
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Consolidating Entries and Eliminations			Consolidated
Net Sales	$	1,974		$	568		$	2,640	$	(1,010	)	$	4,172
Cost of Goods Sold	1,466			520			2,056		(1,015		)	3,027
Selling, Administrative and General Expense	242			42			366		(2		)	648
Rationalizations	5			—			40		1			46
Interest Expense	83			6			37		(16		)	110
Other (Income) Expense	(36		)	(1		)	8		42			13
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	214			1			133		(20		)	328
United States and Foreign Taxes	85			2			35		(2		)	120
Equity in Earnings of Subsidiaries	63			(67		)	—		4			—
Net Income (Loss)	192			(68		)	98		(14		)	208
Less: Minority Shareholders’ Net Income	—			—			16		—			16
Goodyear Net Income (Loss)	$	192		$	(68	)	$	82	$	(14	)	$	192
Comprehensive Income (Loss)	$	223		$	(60	)	$	127	$	(32	)	$	258
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			28		7			35
Goodyear Comprehensive Income (Loss)	$	223		$	(60	)	$	99	$	(39	)	$	223

	Consolidating Statements of Operations
	Six Months Ended June 30, 2016
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	3,472		$	910		$	3,989		$	(801	)	$	7,570
Cost of Goods Sold	2,561			823			2,960			(830		)	5,514
Selling, Administrative and General Expense	476			76			657			(1		)	1,208
Rationalizations	5			—			54			—			59
Interest Expense	147			6			53			(11		)	195
Other (Income) Expense	(5		)	1			(10		)	40			26
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	288			4			275			1			568
United States and Foreign Taxes	105			(1		)	63			4			171
Equity in Earnings of Subsidiaries	203			21			—			(224		)	—
Net Income (Loss)	386			26			212			(227		)	397
Less: Minority Shareholders’ Net Income	—			—			11			—			11
Goodyear Net Income (Loss)	$	386		$	26		$	201		$	(227	)	$	386
Comprehensive Income (Loss)	$	434		$	6		$	241		$	(234	)	$	447
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			13			—			13
Goodyear Comprehensive Income (Loss)	$	434		$	6		$	228		$	(234	)	$	434

	Consolidating Statements of Operations
	Six Months Ended June 30, 2015
(In millions)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Entries and Eliminations			Consolidated
Net Sales	$	3,814		$	1,088		$	5,242		$	(1,948	)	$	8,196
Cost of Goods Sold	2,909			992			4,159			(1,967		)	6,093
Selling, Administrative and General Expense	468			82			710			(4		)	1,256
Rationalizations	5			—			56			1			62
Interest Expense	166			12			68			(29		)	217
Other (Income) Expense	(201		)	(16		)	19			79			(119		)
Income (Loss) before Income Taxes and Equity in Earnings of Subsidiaries	467			18			230			(28		)	687
United States and Foreign Taxes	172			7			65			(1		)	243
Equity in Earnings of Subsidiaries	121			(60		)	—			(61		)	—
Net Income (Loss)	416			(49		)	165			(88		)	444
Less: Minority Shareholders’ Net Income	—			—			28			—			28
Goodyear Net Income (Loss)	$	416		$	(49	)	$	137		$	(88	)	$	416
Comprehensive Income (Loss)	$	416		$	(26	)	$	65		$	(54	)	$	401
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	—			—			(1		)	(14		)	(15		)
Goodyear Comprehensive Income (Loss)	$	416		$	(26	)	$	66		$	(40	)	$	416

Condensed Consolidating Statement of Cash Flows

	Condensed Consolidating Statement of Cash Flows
	Six Months Ended June 30, 2016
(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	$	(243	)	$	(11	)	$	151		$	(17	)	$	(120	)
Cash Flows from Investing Activities:
Capital Expenditures	(185		)	(44		)	(239		)	2			(466		)
Asset Dispositions	—			—			1			—			1
Decrease in Restricted Cash	—			—			11			—			11
Short Term Securities Acquired	—			—			(34		)	—			(34		)
Short Term Securities Redeemed	—			—			23			—			23
Capital Contributions and Loans Incurred	(93		)	—			(243		)	336			—
Capital Redemptions and Loans Paid	25			—			143			(168		)	—
Total Cash Flows from Investing Activities	(253		)	(44		)	(338		)	170			(465		)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	—			4			124			(4		)	124
Short Term Debt and Overdrafts Paid	(4		)	—			(36		)	4			(36		)
Long Term Debt Incurred	2,051			—			1,232			—			3,283
Long Term Debt Paid	(1,523		)	—			(1,408		)	—			(2,931		)
Common Stock Issued	3			—			—			—			3
Common Stock Repurchased	(150		)	—			—			—			(150		)
Common Stock Dividends Paid	(38		)	—			—			—			(38		)
Capital Contributions and Loans Incurred	243			59			34			(336		)	—
Capital Redemptions and Loans Paid	(143		)	(25		)	—			168			—
Intercompany Dividends Paid	—			—			(15		)	15			—
Transactions with Minority Interests in Subsidiaries	—			—			(7		)	—			(7		)
Debt Related Costs and Other Transactions	(22		)	—			(1		)	—			(23		)
Total Cash Flows from Financing Activities	417			38			(77		)	(153		)	225
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			2			20			—			22
Net Change in Cash and Cash Equivalents	(79		)	(15		)	(244		)	—			(338		)
Cash and Cash Equivalents at Beginning of the Period	354			70			1,052			—			1,476
Cash and Cash Equivalents at End of the Period	$	275		$	55		$	808		$	—		$	1,138

	Condensed Consolidating Statement of Cash Flows
	Six Months Ended June 30, 2015
(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	$	231		$	(14	)	$	75		$	(18	)	$	274
Cash Flows from Investing Activities:
Capital Expenditures	(184		)	(16		)	(251		)	3			(448		)
Asset Dispositions	—			—			8			—			8
Increase in Restricted Cash	—			—			(6		)	—			(6		)
Short Term Securities Acquired	—			—			(49		)	—			(49		)
Short Term Securities Redeemed	—			—			21			—			21
Capital Contributions and Loans Incurred	(12		)	—			—			12			—
Other Transactions	—			—			5			—			5
Total Cash Flows from Investing Activities	(196		)	(16		)	(272		)	15			(469		)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	43			5			49			(48		)	49
Short Term Debt and Overdrafts Paid	(5		)	—			(86		)	48			(43		)
Long Term Debt Incurred	455			—			661			—			1,116
Long Term Debt Paid	(658		)	—			(654		)	—			(1,312		)
Common Stock Issued	18			—			—			—			18
Common Stock Repurchased	(52		)	—			—			—			(52		)
Common Stock Dividends Paid	(32		)	—			—			—			(32		)
Capital Contributions and Loans Incurred	—			12			—			(12		)	—
Intercompany Dividends Paid	—			—			(15		)	15			—
Transactions with Minority Interests in Subsidiaries	—			—			(1		)	—			(1		)
Debt Related Costs and Other Transactions	(1		)	—			(9		)	—			(10		)
Total Cash Flows from Financing Activities	(232		)	17			(55		)	3			(267		)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			(6		)	(55		)	—			(61		)
Net Change in Cash and Cash Equivalents	(197		)	(19		)	(307		)	—			(523		)
Cash and Cash Equivalents at Beginning of the Period	674			89			1,398			—			2,161
Cash and Cash Equivalents at End of the Period	$	477		$	70		$	1,091		$	—		$	1,638