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Net Sales | 6 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Net Sales | NOTE 2. NET SALES The following tables show disaggregated net sales from contracts with customers by major source:
|  | Three Months Ended June 30, 2024 |
|  |  |  |  | Europe, Middle East |  |  |  |  |  |  |
(In millions) |  | Americas |  |  | and Africa |  |  | Asia Pacific |  |  | Total |
Tire unit sales |  | $ | 2,175 |  |  | $ | 1,093 |  |  | $ | 566 |  |  | $ | 3,834 |
Other tire and related sales |  |  | 196 |  |  |  | 150 |  |  |  | 23 |  |  |  | 369 |
Retail services and service related sales |  |  | 187 |  |  |  | 36 |  |  |  | 3 |  |  |  | 226 |
Chemical sales |  |  | 134 |  |  |  | — |  |  |  | — |  |  |  | 134 |
Other |  |  | 5 |  |  |  | — |  |  |  | 2 |  |  |  | 7 |
Net Sales by reportable segment |  | $ | 2,697 |  |  | $ | 1,279 |  |  | $ | 594 |  |  | $ | 4,570 |
|  | Three Months Ended June 30, 2023 |
|  |  |  |  | Europe, Middle East |  |  |  |  |  |  |
(In millions) |  | Americas |  |  | and Africa |  |  | Asia Pacific |  |  | Total |
Tire unit sales |  | $ | 2,434 |  |  | $ | 1,159 |  |  | $ | 554 |  |  | $ | 4,147 |
Other tire and related sales |  |  | 211 |  |  |  | 144 |  |  |  | 22 |  |  |  | 377 |
Retail services and service related sales |  |  | 173 |  |  |  | 38 |  |  |  | 9 |  |  |  | 220 |
Chemical sales |  |  | 116 |  |  |  | — |  |  |  | — |  |  |  | 116 |
Other |  |  | 5 |  |  |  | — |  |  |  | 2 |  |  |  | 7 |
Net Sales by reportable segment |  | $ | 2,939 |  |  | $ | 1,341 |  |  | $ | 587 |  |  | $ | 4,867 |
|  | Six Months Ended June 30, 2024 |
|  |  |  |  | Europe, Middle East |  |  |  |  |  |  |
(In millions) |  | Americas |  |  | and Africa |  |  | Asia Pacific |  |  | Total |
Tire unit sales |  | $ | 4,297 |  |  | $ | 2,279 |  |  | $ | 1,140 |  |  | $ | 7,716 |
Other tire and related sales |  |  | 379 |  |  |  | 282 |  |  |  | 41 |  |  |  | 702 |
Retail services and service related sales |  |  | 356 |  |  |  | 65 |  |  |  | 12 |  |  |  | 433 |
Chemical sales |  |  | 244 |  |  |  | — |  |  |  | — |  |  |  | 244 |
Other |  |  | 9 |  |  |  | — |  |  |  | 3 |  |  |  | 12 |
Net Sales by reportable segment |  | $ | 5,285 |  |  | $ | 2,626 |  |  | $ | 1,196 |  |  | $ | 9,107 |
|  | Six Months Ended June 30, 2023 |
|  |  |  |  | Europe, Middle East |  |  |  |  |  |  |
(In millions) |  | Americas |  |  | and Africa |  |  | Asia Pacific |  |  | Total |
Tire unit sales |  | $ | 4,812 |  |  | $ | 2,487 |  |  | $ | 1,103 |  |  | $ | 8,402 |
Other tire and related sales |  |  | 396 |  |  |  | 283 |  |  |  | 43 |  |  |  | 722 |
Retail services and service related sales |  |  | 334 |  |  |  | 63 |  |  |  | 19 |  |  |  | 416 |
Chemical sales |  |  | 256 |  |  |  | — |  |  |  | — |  |  |  | 256 |
Other |  |  | 8 |  |  |  | — |  |  |  | 4 |  |  |  | 12 |
Net Sales by reportable segment |  | $ | 5,806 |  |  | $ | 2,833 |  |  | $ | 1,169 |  |  | $ | 9,808 |
Tire unit sales consist of consumer, commercial, farm and off-the-road tire sales, including the sale of new Company-branded tires through Company-owned retail channels. Other tire and related sales consist of aviation, race and motorcycle tire sales, retread sales and other tire related sales. Sales of tires in this category are not included in reported tire unit information. Retail services and service related sales consist of automotive services performed for customers through our Company-owned retail channels, and includes service related products. Chemical sales relate to the sale of synthetic rubber and other chemicals to third parties, and exclude intercompany sales. Other sales include items such as franchise fees and ancillary tire parts. When we receive consideration from a customer prior to transferring goods or services under the terms of a sales contract, we record deferred revenue, which represents a contract liability. Deferred revenue included in Other Current Liabilities in the Consolidated Balance Sheets totaled $19 mi llion and $18 million at June 30, 2024 and December 31, 2023, respectively. Deferred revenue included in Other Long Term Liabilities in the Consolidated Balance Sheets totale d $8 mi llion and $10 million at June 30, 2024 and December 31, 2023, respectively. We recognize deferred revenue after we have transferred control of the goods or services to the customer and all revenue recognition criteria are met. The following table presents the balance of deferred revenue related to contracts with customers, and changes during the six months ended June 30, 2024:
(In millions) |  |  |
Balance at December 31, 2023 |  | $ | 28 |
Revenue deferred during period |  |  | 101 |
Revenue recognized during period |  |  | (102 | )
Impact of foreign currency translation |  |  | — |
Balance at June 30, 2024 |  | $ | 27 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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