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v3.19.1

Consolidating Financial Information (Tables) | 3 Months Ended
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Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Condensed Consolidating Balance Sheet |
| 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 |

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