8-K

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): December 30, 2004

The Goodyear Tire & Rubber Company
__________________________________________
(Exact name of registrant as specified in its charter)

Ohio	1-1927	34-0253240
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
1144 East Market Street, Akron, Ohio		44316-0001
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

Registrant’s telephone number, including area code: 330-796-2121

Not Applicable
______________________________________________
Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

A copy of the news release issued by The Goodyear Tire & Rubber Company on Thursday, December 30, 2004, describing the potential impact on its consolidated financial statements that may result from the resolution of an accounting matter concerning its Australian joint venture, South Pacific Tyres, is attached hereto as Exhibit 99 and is incorporated by reference herein.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	The Goodyear Tire & Rubber Company
December 30, 2004	By:	Richard J. Kramer
		Name: Richard J. Kramer
		Title: Senior Vice President and Chief Executive Officer

Exhibit Index

Exhibit No.	Description
99	News Release dated December 30, 2004

EX-99

MEDIA CONTACT: Keith Price

330-796-1863

ANALYST CONTACT: Barb Gould

330-796-8576

FOR IMMEDIATE RELEASE

#23008fi.1204

Goodyear Working to Resolve Accounting Issue in Australian Affiliate;
Must Be Resolved Before Filing Amended 2003 10-K

AKRON, Ohio – December 30, 2004 – The Goodyear Tire & Rubber Company is working with its partner in South Pacific Tyres (SPT) Australia to reach agreement on the proper treatment of a transaction under U.S. generally accepted accounting principles (U.S. GAAP).

As previously disclosed, Goodyear plans to incorporate additional disclosure related to certain overseas affiliates, including SPT, in its financial statements. These additional disclosures are required before Goodyear can file an amended Annual Report on Form 10-K for 2003. The accounting issue in Australia arose in the course of preparing these additional disclosures. The financial statements for SPT are prepared under Australian accounting principles and then adjusted to U.S. GAAP for use in Goodyear’s consolidated financial statements.

Goodyear said the amount in question is presently estimated at about $8 million and relates to the accounting treatment of a 10-year supply agreement between Goodyear and SPT. Depending on the resolution of the question, this issue may have no impact on Goodyear’s previously reported financial results, or it may result in the company recognizing up to the entire amount as a pre-tax expense in 2000 rather than amortizing it over 10 years, the treatment Goodyear has been applying.

It is possible that other items having an impact on Goodyear’s profit or loss for prior periods will be identified in the course of the review of SPT’s financial statements.

Separately, Goodyear ’s Australian partner in SPT has informed the U.S. Securities and Exchange Commission that its report on Form 20-F will be delayed for the same reason.

Goodyear and its partner in SPT, along with their respective auditors, are working to reach agreement and finalize the financial results of SPT. Goodyear cannot predict when it will be able to file its amended 2003 Form 10-K or whether the filing of its 2004 10-K will be delayed as a result of this issue.

Goodyear is the world’s largest tire company. Headquartered in Akron, Ohio, the company manufactures tires, engineered rubber products and chemicals in more than 80 facilities in 28 countries. It has marketing operations in almost every country around the world. Goodyear employs about 85,000 people worldwide.

Certain information contained in this press release may constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various factors, including the timely resolution of the above described accounting matter concerning the company’s Australian joint venture, South Pacific Tyres (SPT), as well as the factors discussed in the company’s filings with the Securities and Exchange Commission, including its Form 10-K for the year ended Dec. 31, 2003 and Form 10-Q for the quarter ended Sept. 30, 2004. In addition, any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change.

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