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Earnings Per Share (Tables)
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Basic and Diluted Earnings per Common Share

Basic and diluted earnings per common share are calculated as follows:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

(In millions, except per share amounts)

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Earnings (loss) per share — basic:

 

 

 

 

 

 

 

 

 

 

 

 

Goodyear net income (loss)

 

$

(34

)

 

$

(89

)

 

$

(6

)

 

$

(398

)

Weighted average shares outstanding

 

 

287

 

 

 

285

 

 

 

286

 

 

 

285

 

Earnings (loss) per common share — basic

 

$

(0.12

)

 

$

(0.31

)

 

$

(0.02

)

 

$

(1.40

)

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) per share — diluted:

 

 

 

 

 

 

 

 

 

 

 

 

Goodyear net income (loss)

 

$

(34

)

 

$

(89

)

 

$

(6

)

 

$

(398

)

Weighted average shares outstanding

 

 

287

 

 

 

285

 

 

 

286

 

 

 

285

 

Dilutive effect of stock options and other dilutive securities

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Weighted average shares outstanding — diluted

 

 

287

 

 

 

285

 

 

 

286

 

 

 

285

 

Earnings (loss) per common share — diluted

 

$

(0.12

)

 

$

(0.31

)

 

$

(0.02

)

 

$

(1.40

)

 

Weighted average shares outstanding — diluted for the three and nine months ended September 30, 2024 excludes the dilutive effect of approximately 1 million and 2 million equivalent shares, respectively, and for both the three and nine months ended September 30, 2023 excludes the dilutive effect of approximately 2 million equivalent shares, related primarily to options with exercise prices less than the average market price of our common shares (i.e., "in-the-money" options) and unvested restricted stock units, as their inclusion would have been anti-dilutive due to the Goodyear net loss. Additionally, weighted average shares outstanding — diluted for the three and nine months ended September 30, 2024 excludes approximately 4 million equivalent shares and 1 million equivalent shares, respectively, and, for both the three and nine months ended September 30, 2023, excludes approximately 2 million equivalent shares related to options with exercise prices greater than the average market price of our common shares (i.e., "underwater" options).