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Accumulated Other Comprehensive Loss | 6 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
Accumulated Other Comprehensive Loss | NOTE 14. ACCUMULATED OTHER COMPREHENSIVE LOSS The following tables present changes in AOCL, by component, for the six months ended June 30, 2024 and 2023, after tax and minority interest.
(In millions) Income (Loss) |  | Foreign Currency Translation Adjustment |  |  | Unrealized Gains (Losses) from Securities |  |  | Unrecognized Net Actuarial Losses and Prior Service Costs |  |  | Deferred Derivative Gains (Losses) |  |  | Total |
Balance at December 31, 2023 |  | $ | (1,613 | ) |  | $ | 1 |  |  | $ | (2,224 | ) |  | $ | 1 |  |  | $ | (3,835 | )
Other comprehensive income (loss) before reclassifications |  |  | (55 | ) |  |  | — |  |  |  | 10 |  |  |  | — |  |  |  | (45 | )
Amounts reclassified from accumulated other comprehensive loss |  |  | — |  |  |  | — |  |  |  | 37 |  |  |  | 1 |  |  |  | 38 |
Balance at June 30, 2024 |  | $ | (1,668 | ) |  | $ | 1 |  |  | $ | (2,177 | ) |  | $ | 2 |  |  | $ | (3,842 | )
(In millions) Income (Loss) |  | Foreign Currency Translation Adjustment |  |  | Unrealized Gains (Losses) from Securities |  |  | Unrecognized Net Actuarial Losses and Prior Service Costs |  |  | Deferred Derivative Gains (Losses) |  |  | Total |
Balance at December 31, 2022 |  | $ | (1,663 | ) |  | $ | 1 |  |  | $ | (2,215 | ) |  | $ | 2 |  |  | $ | (3,875 | )
Other comprehensive income (loss) before reclassifications |  |  | 31 |  |  |  | — |  |  |  | 11 |  |  |  | (4 | ) |  |  | 38 |
Amounts reclassified from accumulated other comprehensive loss |  |  | — |  |  |  | — |  |  |  | 69 |  |  |  | — |  |  |  | 69 |
Balance at June 30, 2023 |  | $ | (1,632 | ) |  | $ | 1 |  |  | $ | (2,135 | ) |  | $ | (2 | ) |  | $ | (3,768 | )
The following table presents reclassifications out of AOCL:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |  |  |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |  |  |
(In millions) (Income) Expense |  | Amount Reclassified |  |  | Amount Reclassified |  |  | Affected Line Item in the Consolidated
Component of AOCL |  | from AOCL |  |  | from AOCL |  |  | Statements of Operations
Amortization of prior service cost and unrecognized gains and losses |  | $ | 26 |  |  | $ | 26 |  |  | $ | 54 |  |  | $ | 54 |  |  | Other (Income) Expense
Immediate recognition of prior service cost and unrecognized gains and losses due to curtailments, settlements and divestitures |  |  | — |  |  |  | 36 |  |  |  | (5 | ) |  |  | 36 |  |  | Other (Income) Expense / Rationalizations
Unrecognized net actuarial losses and prior service costs, before tax |  |  | 26 |  |  |  | 62 |  |  |  | 49 |  |  |  | 90 |  |  |
Tax effect |  |  | (6 | ) |  |  | (14 | ) |  |  | (12 | ) |  |  | (21 | ) |  | United States and Foreign Taxes
Net of tax |  | $ | 20 |  |  | $ | 48 |  |  | $ | 37 |  |  | $ | 69 |  |  | Goodyear Net Income (Loss)
Deferred derivative (gains) losses, before tax |  | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | Cost of Goods Sold
Tax effect |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  | United States and Foreign Taxes
Net of tax |  | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | Goodyear Net Income (Loss)
Total reclassifications |  | $ | 20 |  |  | $ | 48 |  |  | $ | 38 |  |  | $ | 69 |  |  | Goodyear Net Income (Loss)
The following table presents the details of comprehensive income (loss) attributable to minority shareholders:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
(In millions) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Net Income (Loss) Attributable to Minority Shareholders |  | $ | (5 | ) |  | $ | — |  |  | $ | (6 | ) |  | $ | 2 |
Other Comprehensive Income (Loss): |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation |  |  | (1 | ) |  |  | (1 | ) |  |  | (4 | ) |  |  | 2 |
Other Comprehensive Income (Loss) |  | $ | (1 | ) |  | $ | (1 | ) |  | $ | (4 | ) |  | $ | 2 |
Comprehensive Income (Loss) Attributable to Minority Shareholders |  | $ | (6 | ) |  | $ | (1 | ) |  | $ | (10 | ) |  | $ | 4 |

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- Definition The entire disclosure for any adjustments made during the period to avoid double counting in comprehensive income items displayed as part of net income that also had been displayed as part of other comprehensive income in that period or earlier periods. These adjustments include reclassifications to net income of items in accumulated comprehensive income, such as deferred gains or losses on qualifying hedges when hedged item reported in net income, holding gains or losses on available-for-sale securities transferred into trading category, unrealized holding gains or losses on debt securities transferred from held-to-maturity category into available-for-sale category and accumulated translation adjustment attributable to foreign subsidiary or investment in foreign entity upon sale or liquidation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/220/tableOfContent + Details
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