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Revision of Previously Issued Financial Statements (Tables)

6 Months Ended

Jun. 30, 2025

Accounting Changes and Error Corrections [Abstract]

Impact of Revision

The following tables reflect the impact of the revision to the specific line items presented in our previously reported financial information.

Impacts to Consolidated Statements of Operations and Comprehensive Income (in millions, except per share data)

			Year Ended December 31, 2024												Year Ended December 31, 2023												Year Ended December 31, 2022
			As Reported			Revision			As Revised						As Reported			Revision			As Revised						As Reported			Revision			As Revised
Cost of Goods Sold			$	15,176		$	16		$	15,192					$	16,557		$	25		$	16,582					$	16,953		$	2		$	16,955
Other Expense (1)			$	125		$	9		$	134					$	212		$	19		$	231					$	197		$	12		$	209
Net Income (Loss)			$	60		$	(25)		$	35					$	(687)		$	(44)		$	(731)					$	209		$	(14)		$	195
Minority Shareholders’ Net Income (Loss)			$	(10)		$	(1)		$	(11)					$	2		$	(4)		$	(2)					$	7		$	(3)		$	4
Goodyear Net Income (Loss)			$	70		$	(24)		$	46					$	(689)		$	(40)		$	(729)					$	202		$	(11)		$	191
Comprehensive Income (Loss)			$	50		$	(25)		$	25					$	(643)		$	(44)		$	(687)					$	280		$	(14)		$	266
Comprehensive Income (Loss) Attributable to Minority Shareholders			$	(11)		$	(1)		$	(12)					$	6		$	(4)		$	2					$	(10)		$	(3)		$	(13)
Goodyear Comprehensive Income (Loss)			$	61		$	(24)		$	37					$	(649)		$	(40)		$	(689)					$	290		$	(11)		$	279
Basic EPS			$	0.24		$	(0.08)		$	0.16					$	(2.42)		$	(0.14)		$	(2.56)					$	0.71		$	(0.04)		$	0.67
Diluted EPS			$	0.24		$	(0.08)		$	0.16					$	(2.42)		$	(0.14)		$	(2.56)					$	0.71		$	(0.04)		$	0.67
(1) Other Expense also reflects the reclassification of Net (Gain) Loss on Asset Sales of $(122) million, $(104) million, and $(93) million for the years ended December 31, 2022, 2023 and 2024, respectively, to conform to the current presentation.

			Nine Months Ended September 30, 2024												Three Months Ended September 30, 2024												Six Months Ended June 30, 2024												Three Months Ended June 30, 2024												Three Months Ended March 31, 2024
			As Reported			Revision			As Revised						As Reported			Revision			As Revised						As Reported			Revision			As Revised						As Reported			Revision			As Revised						As Reported			Revision			As Revised
Cost of Goods Sold			$	11,218		$	13		$	11,231					$	3,881		$	1		$	3,882					$	7,337		$	12		$	7,349					$	3,622		$	5		$	3,627					$	3,715		$	7		$	3,722
Other Expense (1)			$	87		$	8		$	95					$	35		$	1		$	36					$	52		$	7		$	59					$	24		$	2		$	26					$	28		$	5		$	33
Net Income (Loss)			$	(12)		$	(21)		$	(33)					$	(34)		$	(2)		$	(36)					$	22		$	(19)		$	3					$	80		$	(7)		$	73					$	(58)		$	(12)		$	(70)
Minority Shareholders’ Net Income (Loss)			$	(6)		$	—		$	(6)					$	—		$	1		$	1					$	(6)		$	(1)		$	(7)					$	(5)		$	(1)		$	(6)					$	(1)		$	—		$	(1)
Goodyear Net Income (Loss)			$	(6)		$	(21)		$	(27)					$	(34)		$	(3)		$	(37)					$	28		$	(18)		$	10					$	85		$	(6)		$	79					$	(57)		$	(12)		$	(69)
Comprehensive Income (Loss)			$	55		$	(21)		$	34					$	44		$	(2)		$	42					$	11		$	(19)		$	(8)					$	56		$	(7)		$	49					$	(45)		$	(12)		$	(57)
Comprehensive Income (Loss) Attributable to Minority Shareholders			$	(2)		$	—		$	(2)					$	8		$	1		$	9					$	(10)		$	(1)		$	(11)					$	(6)		$	(1)		$	(7)					$	(4)		$	—		$	(4)
Goodyear Comprehensive Income (Loss)			$	57		$	(21)		$	36					$	36		$	(3)		$	33					$	21		$	(18)		$	3					$	62		$	(6)		$	56					$	(41)		$	(12)		$	(53)
Basic EPS			$	(0.02)		$	(0.07)		$	(0.09)					$	(0.12)		$	(0.01)		$	(0.13)					$	0.10		$	(0.06)		$	0.04					$	0.30		$	(0.02)		$	0.28					$	(0.20)		$	(0.04)		$	(0.24)
Diluted EPS			$	(0.02)		$	(0.07)		$	(0.09)					$	(0.12)		$	(0.01)		$	(0.13)					$	0.10		$	(0.06)		$	0.04					$	0.30		$	(0.02)		$	0.28					$	(0.20)		$	(0.04)		$	(0.24)
(1) Other Expense also reflects the reclassification of Net (Gain) Loss on Asset Sales of $2 million, $(96) million and $(1) million for the three months ended March 31, 2024, June 30, 2024, and September 30, 2024, respectively, $(94) million for the six months ended June 30, 2024, and $(95) million for the nine months ended September 30, 2024, to conform to the current presentation.

Impacts to Consolidated Balance Sheets and Statements of Shareholders' Equity (in millions)

			December 31, 2024												December 31, 2023
			As Reported			Revision			As Revised						As Reported			Revision			As Revised
Inventories			$	3,597		$	(43)		$	3,554					$	3,698		$	(27)		$	3,671
Total Current Assets			$	7,632		$	(43)		$	7,589					$	7,650		$	(27)		$	7,623
Total Assets			$	20,964		$	(43)		$	20,921					$	21,582		$	(27)		$	21,555
Accounts Payable — Trade			$	4,052		$	40		$	4,092					$	4,326		$	31		$	4,357
Total Current Liabilities			$	7,337		$	40		$	7,377					$	7,147		$	31		$	7,178
Total Liabilities			$	16,058		$	40		$	16,098					$	16,745		$	31		$	16,776
Retained Earnings			$	5,156		$	(75)		$	5,081					$	5,086		$	(51)		$	5,035
Goodyear Shareholders' Equity			$	4,756		$	(75)		$	4,681					$	4,668		$	(51)		$	4,617
Minority Shareholders' Equity			$	150		$	(8)		$	142					$	169		$	(7)		$	162
Total Shareholders' Equity			$	4,906		$	(83)		$	4,823					$	4,837		$	(58)		$	4,779
Total Liabilities and Shareholders' Equity			$	20,964		$	(43)		$	20,921					$	21,582		$	(27)		$	21,555

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- References

No definition available.

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- Definition

Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-7

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

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