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Business Segments (Tables) | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Business Segment Reporting Information |
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
(In millions) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Sales: |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 2,697 |  |  | $ | 2,939 |  |  | $ | 5,285 |  |  | $ | 5,806 |
Europe, Middle East and Africa |  |  | 1,279 |  |  |  | 1,341 |  |  |  | 2,626 |  |  |  | 2,833 |
Asia Pacific |  |  | 594 |  |  |  | 587 |  |  |  | 1,196 |  |  |  | 1,169 |
Net Sales |  | $ | 4,570 |  |  | $ | 4,867 |  |  | $ | 9,107 |  |  | $ | 9,808 |
Segment Operating Income: |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 241 |  |  | $ | 103 |  |  | $ | 420 |  |  | $ | 182 |
Europe, Middle East and Africa |  |  | 35 |  |  |  | (19 | ) |  |  | 43 |  |  |  | (11 | )
Asia Pacific |  |  | 63 |  |  |  | 40 |  |  |  | 123 |  |  |  | 78 |
Total Segment Operating Income |  | $ | 339 |  |  | $ | 124 |  |  | $ | 586 |  |  | $ | 249 |
Less: |  |  |  |  |  |  |  |  |  |  |  |
Rationalizations (Note 3) |  | $ | 19 |  |  | $ | 72 |  |  | $ | 41 |  |  | $ | 104 |
Interest expense |  |  | 130 |  |  |  | 138 |  |  |  | 256 |  |  |  | 265 |
Other (income) expense (Note 4) |  |  | (72 | ) |  |  | 36 |  |  |  | (42 | ) |  |  | 61 |
Asset write-offs (recoveries), accelerated depreciation, and accelerated lease costs, net (Note 3) |  |  | 43 |  |  |  | 11 |  |  |  | 94 |  |  |  | 13 |
Corporate incentive compensation plans |  |  | 15 |  |  |  | 21 |  |  |  | 36 |  |  |  | 41 |
Retained expenses of divested operations |  |  | 3 |  |  |  | 4 |  |  |  | 8 |  |  |  | 8 |
Other(1) |  |  | 61 |  |  |  | 52 |  |  |  | 105 |  |  |  | 67 |
Income (Loss) before Income Taxes |  | $ | 140 |  |  | $ | (210 | ) |  | $ | 88 |  |  | $ | (310 | )
(1) Other for the three and six months ended June 30, 2024 includes $40 million and $67 million, respectively, of costs related to the Goodyear Forward plan, primarily related to third-party advisory, legal and consulting fees and costs associated with planned asset sales. Other for the three and six months ended June 30, 2023 includes $14 million related to the insurance deductible for the severe weather event in Tupelo, Mississippi.
Rationalizations, Net (Gains) Losses on Asset Sales, Asset Write-offs and Accelerated Depreciation, net | Rationalizations and asset write-offs (recoveries), accelerated depreciation, and accelerated lease costs, as described in Note to the Consolidated Financial Statements No. 3, Costs Associated with Rationalization Programs and net (gains) losses on asset sales, as described in Note to the Consolidated Financial Statements No. 4, Other (Income) Expense, were not charged to the strategic business units ("SBUs") for performance evaluation purposes but were attributable to the SBUs as follows:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
(In millions) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Rationalizations: |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 11 |  |  | $ | 3 |  |  | $ | 15 |  |  | $ | 8 |
Europe, Middle East and Africa |  |  | 3 |  |  |  | 64 |  |  |  | 10 |  |  |  | 88 |
Asia Pacific |  |  | 2 |  |  |  | — |  |  |  | 13 |  |  |  | 3 |
Total Segment Rationalizations |  | $ | 16 |  |  | $ | 67 |  |  | $ | 38 |  |  | $ | 99 |
Corporate |  |  | 3 |  |  |  | 5 |  |  |  | 3 |  |  |  | 5 |
Total Rationalizations |  | $ | 19 |  |  | $ | 72 |  |  | $ | 41 |  |  | $ | 104 |
Net (Gains) Losses on Asset Sales: |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | (14 | ) |  | $ | (60 | ) |  | $ | (14 | ) |  | $ | (62 | )
Europe, Middle East and Africa |  |  | (82 | ) |  |  | — |  |  |  | (80 | ) |  |  | — |
Total Segment Net (Gains) Losses on Asset Sales |  | $ | (96 | ) |  | $ | (60 | ) |  | $ | (94 | ) |  | $ | (62 | )
Asset Write-offs (Recoveries), Accelerated Depreciation, and Accelerated Lease Costs, net: |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 2 |  |  | $ | 7 |  |  | $ | 10 |  |  | $ | 15 |
Europe, Middle East and Africa |  |  | 17 |  |  |  | 4 |  |  |  | 33 |  |  |  | (2 | )
Asia Pacific |  |  | 24 |  |  |  | — |  |  |  | 31 |  |  |  | — |
Total Segment Asset Write-offs (Recoveries), Accelerated Depreciation, and Accelerated Lease Costs, net |  | $ | 43 |  |  | $ | 11 |  |  | $ | 74 |  |  | $ | 13 |
Corporate |  |  | — |  |  |  | — |  |  |  | 20 |  |  |  | — |
Total Asset Write-offs (Recoveries), Accelerated Depreciation, and Accelerated Lease Costs, net |  | $ | 43 |  |  | $ | 11 |  |  | $ | 94 |  |  | $ | 13 |

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