0000950170-24-089017 | 10-Q | XBRL Viewer | Goodyear Tire Rubber CO OH

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Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash Flows from Operating Activities:
Net Income (Loss)	$ 22	$ (307)
Adjustments to Reconcile Net Income (Loss) to Cash Flows from Operating Activities:
Depreciation and Amortization	546	506
Amortization and Write-Off of Debt Issuance Costs	7	7
Provision for Deferred Income Taxes (Note 5)	(6)	(108)
Net Pension Curtailments and Settlements	(5)	36
Net Rationalization Charges (Note 3)	41	104
Rationalization Payments	(105)	(50)
Net (Gains) Losses on Asset Sales (Note 4)	(94)	(62)
Gain on Insurance Recoveries for Damaged Property, Plant and Equipment	(50)	0
Operating Lease Expense	164	148
Operating Lease Payments	(139)	(139)
Pension Contributions and Direct Payments	(29)	(38)
Changes in Operating Assets and Liabilities, Net of Asset Acquisitions and Dispositions:
Accounts Receivable	(354)	(375)
Inventories	(409)	229
Accounts Payable — Trade	(25)	(404)
Compensation and Benefits	6	0
Other Current Liabilities	(91)	104
Other Assets and Liabilities	3	(85)
Total Cash Flows from Operating Activities	(518)	(434)
Cash Flows from Investing Activities:
Capital Expenditures	(634)	(536)
Insurance Recoveries for Damaged Property, Plant and Equipment	37	0
Cash Proceeds from Sale and Leaseback Transaction (Note 4)	16	66
Asset Dispositions	108	3
Short Term Securities Acquired	0	(102)
Short Term Securities Redeemed	0	2
Long Term Securities Redeemed	1	0
Notes Receivable	(17)	(65)
Other Transactions	1	(13)
Total Cash Flows from Investing Activities	(488)	(645)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	595	583
Short Term Debt and Overdrafts Paid	(464)	(439)
Long Term Debt Incurred	7,068	4,758
Long Term Debt Paid	(6,280)	(4,020)
Common Stock Issued	(3)	(2)
Transactions with Minority Interests in Subsidiaries	(2)	(2)
Debt Related Costs and Other Transactions	(18)	(2)
Total Cash Flows from Financing Activities	896	876
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	(23)	4
Net Change in Cash, Cash Equivalents and Restricted Cash	(133)	(199)
Cash, Cash Equivalents and Restricted Cash at Beginning of the Period	985	1,311
Cash, Cash Equivalents and Restricted Cash at End of the Period	$ 852	$ 1,112

Business Segments

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Business Segments

NOTE 7. BUSINESS SEGMENTS


	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 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

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Financing Arrangements and Derivative Financial Instruments - Long Term Debt and Finance Leases, Net of Unamortized Discounts, and Interest Rates (Details) - USD ($)
$ in Millions

Jul. 23, 2024

Jul. 22, 2024

Jun. 30, 2024

Dec. 31, 2023

Long-term Debt and Lease Obligation [Abstract]

Long-term debt and capital leases

$ 7,783

$ 7,049

Unamortized deferred financing fees

(32)

(37)

Total long term debt excluding capital leases

7,751

7,012

Finance lease obligations

^[1]

263

268

Long-term debt, before deferred financing fees

8,014

7,280

Less portion due within one year

(1,182)

(449)

Long-term debt and capital leases, excluding current maturities

$ 6,832

6,831

Interest rate

7.16%

Other Foreign and Domestic Debt

Long-term Debt and Lease Obligation [Abstract]

Long-term debt, before deferred financing fees

^[2]

$ 587

591

Less portion due within one year

$ (255)

$ (395)

Interest rate

^[2]

7.15%

7.44%

9.5% due 2025

Long-term Debt and Lease Obligation [Abstract]

Less portion due within one year

$ (800)

$ 0

Interest rate, stated percentage

9.50%

9.5% due 2025 | Senior Notes

Long-term Debt and Lease Obligation [Abstract]

Long-term debt, before deferred financing fees

$ 801

Interest rate, stated percentage

9.50%

5% due 2026 | Senior Notes

Long-term Debt and Lease Obligation [Abstract]

Long-term debt, before deferred financing fees

$ 900

Interest rate, stated percentage

5.00%

4.875% due 2027 | Senior Notes

Long-term Debt and Lease Obligation [Abstract]

Long-term debt, before deferred financing fees

$ 700

Interest rate, stated percentage

4.875%

7.625% due 2027 | Senior Notes

Long-term Debt and Lease Obligation [Abstract]

Long-term debt, before deferred financing fees

$ 126

$ 128

Interest rate, stated percentage

7.625%

7% due 2028 | Senior Notes

Long-term Debt and Lease Obligation [Abstract]

Long-term debt, before deferred financing fees

$ 150

Interest rate, stated percentage

7.00%

2.75% Euro Notes due 2028 | Euro Notes

Long-term Debt and Lease Obligation [Abstract]

Long-term debt, before deferred financing fees

$ 428

$ 442

Interest rate, stated percentage

2.75%

5% due 2029 | Senior Notes

Long-term Debt and Lease Obligation [Abstract]

Long-term debt, before deferred financing fees

$ 850

Interest rate, stated percentage

5.00%

5.25% due April 2031 | Senior Notes

Long-term Debt and Lease Obligation [Abstract]

Long-term debt, before deferred financing fees

$ 550

Interest rate, stated percentage

5.25%

5.25% due July 2031 | Senior Notes

Long-term Debt and Lease Obligation [Abstract]

Long-term debt, before deferred financing fees

$ 600

Interest rate, stated percentage

5.25%

5.625% due 2033 | Senior Notes

Long-term Debt and Lease Obligation [Abstract]

Long-term debt, before deferred financing fees

$ 450

Interest rate, stated percentage

5.625%

First lien revolving credit facility due 2026 | Revolving Credit Facility | Line of Credit

Long-term Debt and Lease Obligation [Abstract]

Long-term debt, before deferred financing fees

$ 815

$ 385

Interest rate

6.58%

6.71%

European revolving credit facility due 2028 | Revolving Credit Facility | Line of Credit

Long-term Debt and Lease Obligation [Abstract]

Long-term debt, before deferred financing fees

$ 241

$ 0

Interest rate

5.12%

0.00%

Pan-European accounts receivable facility | Line of Credit

Long-term Debt and Lease Obligation [Abstract]

Long-term debt, before deferred financing fees

$ 204

$ 244

Interest rate

5.67%

6.11%

Mexican credit facility | Foreign Line of Credit | Line of Credit

Long-term Debt and Lease Obligation [Abstract]

Long-term debt, before deferred financing fees

$ 200

$ 84

Interest rate

7.37%

7.57%

Chinese credit facilities | Foreign Line of Credit | Line of Credit

Long-term Debt and Lease Obligation [Abstract]

Long-term debt, before deferred financing fees

$ 181

$ 174

Interest rate

2.50%

3.94%

[1]	Includes $1 million of non-cash financing additions during the six months ended June 30, 2024, and $17 million of non-cash financing additions during the twelve months ended December 31, 2023.
[2]	Interest rates are weighted average interest rates primarily related to various foreign credit facilities with customary terms and conditions.

Net Sales - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Deferred revenue, current	$ 19	$ 18
Deferred revenue, noncurrent	$ 8	$ 10

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Net Sales (Note 2)	$ 4,570	$ 4,867	$ 9,107	$ 9,808
Cost of Goods Sold	3,622	4,123	7,337	8,316
Selling, Administrative and General Expense	731	708	1,427	1,372
Rationalizations (Note 3)	19	72	41	104
Interest Expense	130	138	256	265
Other (income) Expense (Note 4)	(72)	36	(42)	61
Income (Loss) before Income Taxes	140	(210)	88	(310)
United States and Foreign Tax Expense (Benefit) (Note 5)	60	(2)	66	(3)
Net Income (Loss)	80	(208)	22	(307)
Less: Minority Shareholders' Net Income (Loss)	(5)	0	(6)	2
Goodyear Net Income (Loss)	$ 85	$ (208)	$ 28	$ (309)
Goodyear Net Income (Loss) - Per Share of Common Stock
Basic	$ 0.3	$ (0.73)	$ 0.1	$ (1.08)
Weighted Average Shares Outstanding (Note 6)	287	285	286	285
Diluted	$ 0.3	$ (0.73)	$ 0.1	$ (1.08)
Weighted Average Shares Outstanding (Note 6)	288	285	288	285

Accumulated Other Comprehensive Loss - Schedule of Reclassifications (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other (Income) Expense / Rationalizations	$ (72)	$ 36	$ (42)	$ 61
Income tax expense (benefit)	(60)	2	(66)	3
Transactions with Minority Interests in Subsidiaries			(2)	(2)
Goodyear Net Income (Loss)	85	(208)	28	(309)
Cost of Goods Sold	3,622	4,123	7,337	8,316
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Goodyear Net Income (Loss)	20	48	38	69
Reclassification out of Accumulated Other Comprehensive Income \| Accumulated Defined Benefit Plans Adjustment Attributable to Parent
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other (Income) Expense / Rationalizations	26	26	54	54
Income (Loss) Attributable to Parent	26	62	49	90
Income tax expense (benefit)	(6)	(14)	(12)	(21)
Goodyear Net Income (Loss)	0	0	1	0
Reclassification out of Accumulated Other Comprehensive Income \| Accumulated Defined Benefit Plans Adjustment, Immediate Recognition of Prior Service and Gain (Loss) Attributable to Parent, Due to Divestitures
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other (Income) Expense / Rationalizations	0	36	(5)	36
Reclassification out of Accumulated Other Comprehensive Income \| Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense (benefit)	0	0	0	0
Goodyear Net Income (Loss)	20	48	37	69
Cost of Goods Sold	$ 0	$ 0	$ 1	$ 0

Financing Arrangements and Derivative Financial Instruments - Credit Facilities Narrative (Details) € in Millions, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Oct. 16, 2024 EUR (€)	Jul. 23, 2024 USD ($)	Jul. 22, 2024 USD ($)	Jun. 30, 2024 EUR (€)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 USD ($)
Line Of Credit Facility [Line Items]
Debt instrument, principal amount					$ 300
Weighted average interest rate						7.16%	7.16%
Long Term Debt							$ 1,182		$ 449
Credit arrangements, unused amount							3,227
Debt instrument carrying amount							8,014		7,280
Accounts Receivable Factoring Facilities \| Secured Debt
Line Of Credit Facility [Line Items]
Off-balance sheet accounts receivable securitization							656		693
Supplier Financing
Line Of Credit Facility [Line Items]
Amounts Available Under These Programs							841		892
Amount confirmed							672		580
Chinese credit facilities
Line Of Credit Facility [Line Items]
Credit arrangements, unused amount							$ 93		$ 93
9.50% Notes due 2025
Line Of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage						9.50%	9.50%	9.50%	9.50%
Long Term Debt							$ 800		$ 0
Line of Credit \| Revolving Credit Facility
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity							11,707
Line of Credit \| Revolving Credit Facility \| Secured Overnight Financing Rate {SOFR) \| Minimum
Line Of Credit Facility [Line Items]
Basis spread on reference rate	1.00%
Line of Credit \| All-Borrower Tranche
Line Of Credit Facility [Line Items]
Debt instrument carrying amount						€ 225	241
Line of Credit \| First lien revolving credit facility due 2026 \| Revolving Credit Facility
Line Of Credit Facility [Line Items]
Line of credit facility, additional borrowing capacity which may be requested from lenders							250
Basis spread	1.25%
Increase in value of principal trademarks							400
Line of credit facility, maximum borrowing capacity inputs, increase based on value of cash							275
Line of credit facility, maximum borrowing capacity							2,750
Letters of credit, amount outstanding							1		$ 1
Line of credit facility, current borrowing capacity							$ 2,750
Weighted average interest rate						6.58%	6.58%	6.71%	6.71%
Available cash plus availability under facility	$ 750
Debt instrument carrying amount							$ 815		$ 385
Line of Credit \| First lien revolving credit facility due 2026 \| Revolving Credit Facility \| Secured Overnight Financing Rate {SOFR)
Line Of Credit Facility [Line Items]
Basis spread	1.25%
Basis spread on reference rate	0.50%
Line of Credit \| First lien revolving credit facility due 2026 \| Revolving Credit Facility \| Secured Overnight Financing Rate {SOFR) \| Maximum
Line Of Credit Facility [Line Items]
Basis spread	1.50%
Line of Credit \| First lien revolving credit facility due 2026 \| Revolving Credit Facility \| Base Rate
Line Of Credit Facility [Line Items]
Basis spread	0.50%
Line of Credit \| First lien revolving credit facility due 2026 \| Revolving Credit Facility \| Base Rate \| Minimum
Line Of Credit Facility [Line Items]
Basis spread	0.25%
Line of Credit \| First lien revolving credit facility due 2026 \| Revolving Credit Facility \| Commitment Fee Rate
Line Of Credit Facility [Line Items]
Annual commitment fee percentage on undrawn amounts	0.25%
Line of Credit \| First lien revolving credit facility due 2026 \| Letter of Credit
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity							$ 800
Line of Credit \| Pan-European Accounts Receivable Facility
Line Of Credit Facility [Line Items]
Weighted average interest rate						5.67%	5.67%	6.11%	6.11%
Debt instrument carrying amount							$ 204		$ 244
Line of Credit \| Pan-European Accounts Receivable Facility \| Secured Debt
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity \| €			€ 300
Line of credit facility, current borrowing capacity						€ 190	204	€ 221	244
Line of Credit \| Pan-European Accounts Receivable Facility \| Secured Debt \| Minimum
Line Of Credit Facility [Line Items]
Line of credit facility, minimum borrowing capacity \| €						30
Line of Credit \| Pan-European Accounts Receivable Facility \| Secured Debt \| Maximum
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity \| €						450
Line of Credit \| European Revolving Credit Facility [Member]
Line Of Credit Facility [Line Items]
Line of credit facility, additional borrowing capacity which may be requested from lenders \| €						200
Line of Credit \| European Revolving Credit Facility [Member] \| Revolving Credit Facility
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity \| €						800
Letters of credit, amount outstanding						0			0
Annual commitment fee percentage on undrawn amounts	0.25%
Debt instrument carrying amount									0
Line of Credit \| European Revolving Credit Facility [Member] \| Revolving Credit Facility \| Secured Overnight Financing Rate {SOFR)
Line Of Credit Facility [Line Items]
Basis spread	1.50%
Line of Credit \| European Revolving Credit Facility [Member] \| Revolving Credit Facility \| Sterling Overnight Interbank Average Rate (SONIA)
Line Of Credit Facility [Line Items]
Basis spread	1.50%
Line of Credit \| European Revolving Credit Facility [Member] \| Revolving Credit Facility \| European Interbank Offer Rate (Euribor)
Line Of Credit Facility [Line Items]
Basis spread	1.50%
Line of Credit \| European Revolving Credit Facility [Member] \| Letter of Credit
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity \| €						75
Line of Credit \| European Revolving Credit Facility [Member] \| Bridge Loan
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity \| €						175
Line of Credit \| European Revolving Credit Facility [Member] \| German Tranche
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity \| €						180
Line of Credit \| European Revolving Credit Facility [Member] \| All-Borrower Tranche
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity \| €						€ 620
Line of Credit \| Mexican Credit Facilities
Line Of Credit Facility [Line Items]
Line of credit facility, current borrowing capacity							$ 200		$ 200
Amount utilized under facility		$ 84
Line of Credit \| Mexican Credit Facilities \| Foreign Line of Credit
Line Of Credit Facility [Line Items]
Weighted average interest rate						7.37%	7.37%	7.57%	7.57%
Debt instrument carrying amount							$ 200		$ 84
Line of Credit \| Chinese credit facilities \| Foreign Line of Credit
Line Of Credit Facility [Line Items]
Weighted average interest rate						2.50%	2.50%	3.94%	3.94%
Debt instrument carrying amount							$ 181		$ 174
Swingline Loans \| First lien revolving credit facility due 2026 \| Revolving Credit Facility
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity							$ 50
Senior Notes \| 9.50% Notes due 2025
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity					500
Letters of credit, amount outstanding					$ 300
Debt instrument, principal amount				$ 300
Debt Instrument, Interest Rate, Stated Percentage				9.50%	9.50%	9.50%	9.50%	9.50%	9.50%
Debt instrument carrying amount							$ 801		$ 801

Fair Value Measurements

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

NOTE 9. FAIR VALUE MEASUREMENTS

The following table presents information about assets and liabilities recorded at fair value on the Consolidated Balance Sheets at June 30, 2024 and December 31, 2023:


	Total Carrying Value in the Consolidated Balance Sheets				Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
(In millions)	2024		2023		2024		2023		2024		2023		2024		2023
Assets:
Investments	$	20	$	19	$	20	$	19	$	—	$	—	$	—	$	—
Foreign Exchange Contracts		21		2		—		—		21		2		—		—
Total Assets at Fair Value	$	41	$	21	$	20	$	19	$	21	$	2	$	—	$	—

Liabilities:
Foreign Exchange Contracts	$	9	$	29	$	—	$	—	$	9	$	29	$	—	$	—
Total Liabilities at Fair Value	$	9	$	29	$	—	$	—	$	9	$	29	$	—	$	—

The following table presents supplemental fair value information about long term fixed rate and variable rate debt, excluding finance leases, at June 30, 2024 and December 31, 2023:


	June 30,		December 31,
(In millions)	2024		2023
Fixed Rate Debt:(1)
Carrying amount — liability	$	5,716	$	5,720
Fair value — liability		5,459		5,488

Variable Rate Debt:(1)
Carrying amount — liability	$	2,034	$	1,292
Fair value — liability		1,998		1,286

(1)

Excludes Notes Payable and Overdrafts of $462 million and $344 million at June 30, 2024 and December 31, 2023, respectively, of which $251 million and $111 million, respectively, are at fixed rates and $211 million and $233 million, respectively, are at variable rates. The carrying value of Notes Payable and Overdrafts approximates fair value due to the short term nature of the facilities.

Long term debt with fair values of $5,265 million and $5,301 million at June 30, 2024 and December 31, 2023, respectively, were estimated using quoted Level 1 market prices. The carrying value of the remaining debt was based upon internal estimates of fair value derived from market prices for similar debt.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
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-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

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-Section 50
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-Subparagraph (c)(3)
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+ Details

Pension, Savings and Other Postretirement Benefit Plans - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Postretirement benefits expense (credit)	$ 2	$ 2	$ 4	$ 4
Defined contribution plans, contribution expenses	33	32	70	67
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Pension settlement charges		$ 36	5	$ 36
Pension Plan \| Non-U.S.
Defined Benefit Plan Disclosure [Line Items]
Contributions to pension plans	7		16
Pension Plan \| Minimum \| Non-U.S.
Defined Benefit Plan Disclosure [Line Items]
Expected contribution to funded pension plans in current year	25		25
Pension Plan \| Maximum \| Non-U.S.
Defined Benefit Plan Disclosure [Line Items]
Expected contribution to funded pension plans in current year	$ 35		$ 35

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 85	$ (208)	$ 28	$ (309)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Stock Compensation Plans

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Stock Compensation Plans

NOTE 11. STOCK COMPENSATION PLANS

Our Board of Directors granted 1.9 million restricted stock units and 1.2 million performance share units during the six months ended June 30, 2024 under our stock compensation plans. We measure the fair value of grants of restricted stock units and performance share units based primarily on the closing market price of a share of our common stock on the date of the grant, modified as appropriate to take into account the features of such grants. The weighted average fair value per share was $12.40 for restricted stock units and $11.45 for performance share units granted during the six months ended June 30, 2024.

We recognized stock-based compensation expense of $6 million and $9 million during the three and six months ended June 30, 2024, respectively. At June 30, 2024, unearned compensation cost related to the unvested portion of all stock-based awards was approximately $32 million and is expected to be recognized over the remaining vesting period of the respective grants, through the second quarter of 2027. We recognized stock-based compensation expense of $11 million and $16 million during the three and six months ended June 30, 2023, respectively.

Pension, Savings and Other Postretirement Benefit Plans - Defined Benefit Pension Cost (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
U.S.
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Type [Extensible Enumeration]	Pension Plan	Pension Plan	Pension Plan	Pension Plan
Service cost	$ 2	$ 2	$ 4	$ 4
Interest cost	43	52	87	101
Expected return on plan assets	(52)	(60)	(104)	(118)
Amortization of net losses	24	24	48	49
Net periodic pension cost	17	18	35	36
U.S. \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Net curtailments/settlements/termination benefits	0	33	(5)	33
Total defined benefit pension cost	$ 17	$ 51	$ 30	$ 69
Non-U.S.
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Type [Extensible Enumeration]	Pension Plan	Pension Plan	Pension Plan	Pension Plan
Service cost	$ 4	$ 4	$ 9	$ 9
Interest cost	26	27	53	54
Expected return on plan assets	(22)	(23)	(45)	(46)
Amortization of prior service cost	1	1	1	1
Amortization of net losses	5	4	10	9
Net periodic pension cost	14	13	28	27
Non-U.S. \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Net curtailments/settlements/termination benefits	0	3	0	3
Total defined benefit pension cost	$ 14	$ 16	$ 28	$ 30

Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock	Capital Surplus	Retained Earnings	Accumulated Other Comprehensive Loss	Goodyear Shareholders' Equity	Minority Shareholders' Equity - Non-Redeemable
Beginning balance at Dec. 31, 2022	$ 5,466	$ 283	$ 3,117	$ 5,775	$ (3,875)	$ 5,300	$ 166
Common stock beginning balance (in shares) at Dec. 31, 2022		282,896,352
Net Income (Loss)	(99)			(101)		(101)	2
Other comprehensive income (loss)	54				51	51	3
Comprehensive Income (Loss)	(45)					(50)	5
Stock-based compensation plans	4		4			4
Common stock issued from treasury	(1)		(1)			(1)
Common stock issued from treasury (in shares)		530,949
Ending balance at Mar. 31, 2023	5,424	$ 283	3,120	5,674	(3,824)	5,253	171
Common stock ending balance (in shares) at Mar. 31, 2023		283,427,301
Beginning balance at Dec. 31, 2022	5,466	$ 283	3,117	5,775	(3,875)	5,300	166
Common stock beginning balance (in shares) at Dec. 31, 2022		282,896,352
Net Income (Loss)	(307)
Other comprehensive income (loss)	109
Comprehensive Income (Loss)	(198)
Ending balance at Jun. 30, 2023	5,273	$ 283	3,124	5,466	(3,768)	5,105	168
Common stock ending balance (in shares) at Jun. 30, 2023		283,452,317
Beginning balance at Mar. 31, 2023	5,424	$ 283	3,120	5,674	(3,824)	5,253	171
Common stock beginning balance (in shares) at Mar. 31, 2023		283,427,301
Net Income (Loss)	(208)			(208)		(208)
Other comprehensive income (loss)	55				56	56	(1)
Comprehensive Income (Loss)	(153)					(152)	(1)
Stock-based compensation plans	5		5			5
Dividends declared	(2)						(2)
Common stock issued from treasury	(1)		(1)			(1)
Common stock issued from treasury (in shares)		25,016
Ending balance at Jun. 30, 2023	5,273	$ 283	3,124	5,466	(3,768)	5,105	168
Common stock ending balance (in shares) at Jun. 30, 2023		283,452,317
Beginning balance at Dec. 31, 2023	$ 4,837	$ 284	3,133	5,086	(3,835)	4,668	169
Common stock beginning balance (in shares) at Dec. 31, 2023	284,000,000	283,786,263
Net Income (Loss)	$ (58)			(57)		(57)	(1)
Other comprehensive income (loss)	13				16	16	(3)
Comprehensive Income (Loss)	(45)					(41)	(4)
Stock-based compensation plans	11		11			11
Dividends declared	(2)						(2)
Common stock issued from treasury	(3)	$ 1	(4)			(3)
Common stock issued from treasury (in shares)		900,744
Ending balance at Mar. 31, 2024	4,798	$ 285	3,140	5,029	(3,819)	4,635	163
Common stock ending balance (in shares) at Mar. 31, 2024		284,687,007
Beginning balance at Dec. 31, 2023	$ 4,837	$ 284	3,133	5,086	(3,835)	4,668	169
Common stock beginning balance (in shares) at Dec. 31, 2023	284,000,000	283,786,263
Net Income (Loss)	$ 22
Other comprehensive income (loss)	(11)
Comprehensive Income (Loss)	11
Ending balance at Jun. 30, 2024	$ 4,855	$ 285	3,146	5,114	(3,842)	4,703	152
Common stock ending balance (in shares) at Jun. 30, 2024	285,000,000	284,687,007
Beginning balance at Mar. 31, 2024	$ 4,798	$ 285	3,140	5,029	(3,819)	4,635	163
Common stock beginning balance (in shares) at Mar. 31, 2024		284,687,007
Net Income (Loss)	80			85		85	(5)
Other comprehensive income (loss)	(24)				(23)	(23)	(1)
Comprehensive Income (Loss)	56					62	(6)
Stock-based compensation plans	6		6			6
Dividends declared	(5)						(5)
Ending balance at Jun. 30, 2024	$ 4,855	$ 285	$ 3,146	$ 5,114	$ (3,842)	$ 4,703	$ 152
Common stock ending balance (in shares) at Jun. 30, 2024	285,000,000	284,687,007

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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+ Details

Business Segments - Rationalizations, Asset Sales, Other Expense and Asset Write-offs and Accelerated Depreciation Attributable to the SBUs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Rationalizations (Note 3)	$ 19	$ 72	$ 41	$ 104
Net (Gains) Losses on Asset Sales	(96)	(60)	(94)	(62)
Asset Write-offs (Recoveries), Accelerated Depreciation, and Accelerated Lease Costs, net	43	11	94	13
Operating Segments
Segment Reporting Information [Line Items]
Rationalizations (Note 3)	16	67	38	99
Net (Gains) Losses on Asset Sales	(96)	(60)	(94)	(62)
Asset Write-offs (Recoveries), Accelerated Depreciation, and Accelerated Lease Costs, net	43	11	74	13
Operating Segments \| Americas
Segment Reporting Information [Line Items]
Rationalizations (Note 3)	11	3	15	8
Net (Gains) Losses on Asset Sales	(14)	(60)	(14)	(62)
Asset Write-offs (Recoveries), Accelerated Depreciation, and Accelerated Lease Costs, net	2	7	10	15
Operating Segments \| Europe, Middle East & Africa
Segment Reporting Information [Line Items]
Rationalizations (Note 3)	3	64	10	88
Net (Gains) Losses on Asset Sales	(82)	0	(80)	0
Asset Write-offs (Recoveries), Accelerated Depreciation, and Accelerated Lease Costs, net	17	4	33	(2)
Operating Segments \| Asia Pacific
Segment Reporting Information [Line Items]
Rationalizations (Note 3)	2	0	13	3
Asset Write-offs (Recoveries), Accelerated Depreciation, and Accelerated Lease Costs, net	24	0	31	0
Corporate
Segment Reporting Information [Line Items]
Rationalizations (Note 3)	3	5	3	5
Asset Write-offs (Recoveries), Accelerated Depreciation, and Accelerated Lease Costs, net	$ 0	$ 0	$ 20	$ 0

Accounting Policies

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Accounting Policies

NOTE 1. ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited consolidated financial statements have been prepared by The Goodyear Tire & Rubber Company (the “Company,” “Goodyear,” “we,” “us” or “our”) in accordance with Securities and Exchange Commission (“SEC”) rules and regulations and generally accepted accounting principles in the United States of America ("U.S. GAAP") and in the opinion of management contain all adjustments (including normal recurring adjustments) necessary to fairly state the financial position, results of operations and cash flows for the periods presented. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These interim consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2023 (the “2023 Form 10-K”).

Operating results for the three and six months ended June 30, 2024 are not necessarily indicative of the results expected in subsequent quarters or for the year ending December 31, 2024.

Recently Issued Accounting Standards

On March 6, 2024, the SEC issued final rules that require registrants to enhance and standardize climate-related disclosures in their annual reports beginning with periods ending December 31, 2025. The final rules will require information about climate-related risks that have materially impacted, or are reasonably likely to have a material impact on, a registrant’s business strategy, results of operations or financial condition, the governance of climate-related matters, certain climate-related targets and goals, and certain greenhouse gas emissions. The rules will also require certain financial statement disclosures related to the impact of severe weather events and other natural disasters. On April 4, 2024, the SEC stayed the final rules pending completion of judicial review of several lawsuits challenging the rules that have been consolidated in the U.S. Court of Appeals for the 8th Circuit. We are currently assessing the impact of these rules on our disclosures in both our Annual Report on Form 10-K and the notes to the consolidated financial statements.

Principles of Consolidation

The consolidated financial statements include the accounts of all legal entities in which we hold a controlling financial interest. A controlling financial interest generally arises from our ownership of a majority of the voting shares of our subsidiaries. We would also hold a controlling financial interest in variable interest entities if we are considered to be the primary beneficiary. Investments in companies in which we do not own a majority interest and we have the ability to exercise significant influence over operating and financial policies are accounted for using the equity method. Investments in other companies are primarily carried at cost. All intercompany balances and transactions have been eliminated in consolidation.

Restricted Cash

The following table provides a reconciliation of Cash, Cash Equivalents and Restricted Cash as reported within the Consolidated Statements of Cash Flows:


	June 30,
(In millions)	2024		2023
Cash and Cash Equivalents	$	789	$	1,049
Restricted Cash		63		63
Total Cash, Cash Equivalents and Restricted Cash	$	852	$	1,112

Restricted Cash primarily represents amounts required to be set aside for accounts receivable factoring programs. The restrictions lapse when cash from factored accounts receivable is remitted to the purchaser of those receivables. At both June 30, 2024 and 2023, restricted cash was recorded in Prepaid Expenses and Other Current Assets in the Consolidated Balance Sheets.

Reclassifications and Adjustments

Certain items previously reported in specific financial statement captions have been reclassified to conform to the current presentation.

Financing Arrangements and Derivative Financial Instruments - Notes Narrative (Details) - USD ($) $ in Millions	Jul. 23, 2024	Jul. 22, 2024	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Notes payable			$ 5,555	$ 5,571
Debt instrument, principal amount		$ 300
9.5% due 2025
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			9.50%	9.50%
Senior Notes \| 9.5% due 2025
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 300
Debt Instrument, Interest Rate, Stated Percentage	9.50%	9.50%	9.50%	9.50%
Debt Instrument Notes Sold Percentageof Principle Amount	100.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Income Taxes - Narrative (Details) € in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 EUR (€)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Income Taxes [Line Items]
Income tax expense (benefit)	$ (60)	$ 2		$ (66)	$ 3
Loss before Income Taxes	(140)	210		(88)	310
Unrecognized Tax Benefits	$ 0			0
Net discrete tax adjustments		$ 2		$ 1	$ 3
Minimum effective corporate tax rate			15.00%	15.00%
U.S. statutory rate	21.00%	21.00%	21.00%	21.00%	21.00%
Corporate average revenue excess amount \| €			€ 750
Corporate alternative minimum tax			15.00%	15.00%
U.S.
Income Taxes [Line Items]
Net deferred tax assets, unlimited lives	$ 1,100			$ 1,100		$ 1,000
Net deferred tax assets, limited lives	200			200		200
Deferred tax asset, tax credit carryforwards, foreign	22			22
Foreign Tax Authority
Income Taxes [Line Items]
Net deferred tax assets	1,500			1,500		1,500
Valuation allowance	1,300			1,300		1,200
Foreign Tax Authority \| Luxembourg
Income Taxes [Line Items]
Valuation allowance	1,000			1,000
State And Local Authority
Income Taxes [Line Items]
Valuation allowance	22			22		22
Domestic and State and Local Authority
Income Taxes [Line Items]
Net deferred tax assets	$ 1,300			$ 1,300		$ 1,200

Financing Arrangements and Derivative Financial Instruments - Summary of Available and Utilized Under the Chinese Financing Arrangements (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Line of Credit Facility [Line Items]
Notes Payable and Overdrafts	$ 462	$ 344
Long Term Debt	1,182	449
Chinese credit facilities
Line of Credit Facility [Line Items]
Total available	964	937
Notes Payable and Overdrafts	84	15
Long Term Debt due Within One Year	127	54
Long Term Debt	54	120
Letters of credit, bank acceptances and other utilization	224	91
Total utilized	$ 489	$ 280
Maturity date, start	Jul. 31, 2024	Feb. 29, 2024
Maturity date, end	Aug. 31, 2028	Aug. 31, 2028

Costs Associated with Rationalization Programs

6 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Costs Associated with Rationalization Programs

NOTE 3. COSTS ASSOCIATED WITH RATIONALIZATION PROGRAMS

In order to improve our global competitiveness and as part of our execution of the Goodyear Forward transformation plan ("Goodyear Forward"), we have implemented, and are implementing, rationalization actions to reduce high-cost and excess manufacturing capacity and operating and administrative costs.

The following table presents a roll-forward of the liability balance between periods:


	Associate-
(In millions)	Related Costs			Other Costs			Total
Balance at December 31, 2023	$	518		$	16		$	534
2024 Charges		28			26			54
Incurred, net of foreign currency translation of ($13) million and ($1) million, respectively		(79	)		(40	)		(119	)
Reversed to the Statement of Operations		(13	)		—			(13	)
Balance at June 30, 2024	$	454		$	2		$	456

In July 2024, as part of Goodyear Forward, we approved a rationalization plan to open a shared service center in Costa Rica and to exit certain Commercial Tire and Service Center (“CTSC”) locations. The proposed plan will lead to a reduction of 100 net positions, which includes the transfer of certain associate and contractor positions to the new shared service center and the elimination of certain positions in CTSC. Total pre-tax charges are expected to be $28 million, of which $18 million are expected to be cash charges primarily for associate-related costs. Non-cash charges are expected to be $10 million, consisting of accelerated lease amortization and pension settlement costs. We accrued approximately $9 million for this plan at June 30, 2024.

During the first quarter of 2024, we approved a rationalization plan in Asia Pacific to permanently close our Malaysia tire manufacturing facility by June 30, 2024 as part of our strategy to improve profitability and reduce production costs. We have approximately $10 million ($5 million after minority) accrued for this plan at June 30, 2024, which is expected to be substantially paid during the third quarter of 2024.

The remainder of the accrual balance at June 30, 2024 includes $242 million related to the closures of our Fulda, Germany ("Fulda") and our Fürstenwalde, Germany ("Fürstenwalde") tire manufacturing facilities, $143 million related to the rationalization and workforce reorganization plan in Europe, Middle East and Africa ("EMEA"), which reflects $13 million of reversals due to voluntary attrition, $15 million related to the plan to improve profitability in Australia and New Zealand, $10 million related to plans to reduce Selling, Administrative and General expense ("SAG") headcount, $5 million related to the closure of Cooper Tire's Melksham, United Kingdom manufacturing facility ("Melksham"), $5 million related to the closed Amiens, France tire manufacturing facility, $4 million related to our global workforce reorganization plan to improve our cost structure, $4 million related to the plan to streamline our EMEA distribution network, $4 million related to the plan to reduce costs associated with our global operations and technology organization, and various other plans to reduce headcount and improve operating efficiency.

At June 30, 2024 and December 31, 2023, $192 million and $239 million were recorded in Other Current Liabilities in the Consolidated Balance Sheets, respectively.

The following table shows net rationalization charges included in Income (Loss) before Income Taxes:


	Three Months Ended						Six Months Ended
	June 30,						June 30,
(In millions)	2024			2023			2024			2023
Current Year Plans
Associate Severance and Other Related Costs	$	13		$	68		$	23		$	75
Other Exit Costs		1			—			1			13
Current Year Plans - Net Charges	$	14		$	68		$	24		$	88

Prior Year Plans
Associate Severance and Other Related Costs	$	(9	)	$	(2	)	$	(8	)	$	2
Other Exit Costs		14			6			25			14
Prior Year Plans - Net Charges	$	5		$	4		$	17		$	16
Total Net Charges	$	19		$	72		$	41		$	104
Asset write-offs (recoveries), accelerated depreciation, and accelerated lease costs, net	$	43		$	11		$	94		$	13

Substantially all of the new charges for the three and six months ended June 30, 2024 and 2023 relate to future cash outflows. Net current year plan charges for the three months ended June 30, 2024 primarily relate to the plan to open a new shared service center in Costa Rica. Net current year plan charges for the six months ended June 30, 2024 also include the closure of our tire manufacturing facility in Malaysia. Net current year plan charges for the three months ended June 30, 2023 relate to the plan to close Fulda and the plan to reduce costs associated with our global operations and technology organization. Net current year plan charges for the six months ended June 30, 2023 also include the plan to streamline our EMEA distribution network and the plan to reduce manufacturing staffing levels and capacity in EMEA.

Net prior year plan charges for the three months ended June 30, 2024 include $6 million related to the closures of Fulda and Fürstenwalde, $3 million related to the closure of Melksham, $2 million related to the plan to improve profitability in Australia and New Zealand, $2 million related to the plan to streamline our EMEA distribution network, $1 million related to our closure of certain retail and warehouse locations in Americas, $1 million related to plans to reduce SAG headcount, and reversals of $12 million primarily related to voluntary attrition. Net prior year plan charges for the six months ended June 30, 2024 include $8 million related to the closures of Fulda and Fürstenwalde, $7 million related to the closure of Melksham, $3 million related to the plan in Australia and New Zealand, $3 million related to the permanent closure of our Gadsden, Alabama tire manufacturing facility ("Gadsden"), $2 million related to the plan to streamline our EMEA distribution network, $2 million related to the closure of certain retail and warehouse locations in Americas, $1 million related to plans to reduce SAG headcount, and reversals of $13 million related to voluntary attrition. Net prior year plan charges for the three months ended June 30, 2023 include $4 million related to the closure of Melksham, $2 million related to the integration of Cooper Tire, $2 million related to a plan in South Africa, and reversals of $4 million for actions no longer needed for their originally intended purpose. Net prior year plan charges for the six months ended June 30, 2023 include $6 million related to the closure of Melksham, $4 million for various plans to reduce global SAG headcount, $4 million related to the integration of Cooper Tire, $3 million related to the permanent closure of Gadsden, $2 million related to discontinued operations in Russia, and reversals of $6 million for actions no longer needed for their originally intended purpose.

Asset write-offs (recoveries), accelerated depreciation, and accelerated lease costs for both the three and six months ended June 30, 2024 primarily relate to plans to improve our cost structure through announced closures of our Fulda, Fürstenwalde and Malaysia tire manufacturing facilities, as well as the closure of a development center and warehouse in the U.S.

Asset write-offs (recoveries) and accelerated depreciation for the three months ended June 30, 2023 primarily relate to the integration of Cooper Tire and the closure of Melksham. Asset write-offs (recoveries) and accelerated depreciation for the six months ended June 30, 2023 primarily relate to the integration of Cooper Tire and the closure of Melksham, partially offset by recoveries of previously written-off accounts receivable and other assets in Russia.

Ongoing rationalization plans had approximately $920 million in charges incurred prior to 2024 and have approximately $230 million in expected charges to be incurred in future periods.

Approximately 750 associates will be released under plans initiated in 2024, of which approximately 50 were released through June 30, 2024. In the first six months of 2024, approximately 900 associates were released under plans initiated in prior years. Approximately 3,050 associates remain to be released under all ongoing rationalization plans.

Cover Page	6 Months Ended
Cover Page	Jun. 30, 2024 shares
Cover [Abstract]
Document Type	10-Q
Document Period End Date	Jun. 30, 2024
Entity File Number	1-1927
Entity Registrant Name	THE GOODYEAR TIRE & RUBBER COMPANY
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	34-0253240
Entity Address, Address Line One	200 Innovation Way
Entity Address, City or Town	Akron
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	44316-0001
City Area Code	330
Local Phone Number	796-2121
Title of 12(b) Security	Common Stock, Without Par Value
Trading Symbol	GT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock Outstanding	284,687,007
Document Quarterly Report	true
Document Transition Report	false
Entity Central Index Key	0000042582
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Costs Associated with Rationalization Programs - Schedule of Net Rationalization Charges Included in Income (Loss) Before Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)	$ 19	$ 72	$ 41	$ 104
Asset write-offs (recoveries), accelerated depreciation, and accelerated lease costs, net	43	11	94	13
Current Year Plans
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)	14	68	24	88
Current Year Plans \| Associate Severance and Other Related Costs
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)	13	68	23	75
Current Year Plans \| Other Exit Costs
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)	1	0	1	13
Prior Year Plans
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)	5	4	17	16
Prior Year Plans \| Associate Severance and Other Related Costs
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)	(9)	(2)	(8)	2
Prior Year Plans \| Other Exit Costs
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)	$ 14	$ 6	$ 25	$ 14

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Business Segments - Business Segment Reporting Information (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

Segment Operating Income:

Net Sales by reportable segment

$ 4,570

$ 4,867

$ 9,107

$ 9,808

Less:

Rationalizations (Note 3)

104

Interest Expense

130

138

256

265

Other (income) Expense (Note 4)

(72)

(42)

Other

Income (Loss) before Income Taxes

140

(210)

(310)

Segment Reconciling Items

Less:

Rationalizations (Note 3)

104

Interest Expense

130

138

256

265

Other (income) Expense (Note 4)

(72)

(42)

Asset write-offs (recoveries), accelerated depreciation, and accelerated lease costs, net

Corporate incentive compensation plans

Retained expenses of divested operations

Other

^[1]

105

Operating Segments

Less:

Rationalizations (Note 3)

Income (Loss) before Income Taxes

339

124

586

249

Americas

Segment Operating Income:

Net Sales by reportable segment

2,697

2,939

5,285

5,806

Americas | Operating Segments

Less:

Rationalizations (Note 3)

Income (Loss) before Income Taxes

241

103

420

182

Europe, Middle East and Africa

Segment Operating Income:

Net Sales by reportable segment

1,279

1,341

2,626

2,833

Europe, Middle East and Africa | Operating Segments

Less:

Rationalizations (Note 3)

Income (Loss) before Income Taxes

(19)

(11)

Asia Pacific

Segment Operating Income:

Net Sales by reportable segment

594

587

1,196

1,169

Asia Pacific | Operating Segments

Less:

Rationalizations (Note 3)

Income (Loss) before Income Taxes

$ 63

$ 40

$ 123

$ 78

[1]

Commitments and Contingent Liabilities - Narrative (Details) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2024 USD ($) Segment	Dec. 31, 2023 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2015 USD ($)
Loss Contingencies [Line Items]
Liability for anticipated environmental matters	$ 84	$ 80
Liability for anticipated environment matters, current	25	27
Workers' compensation liability	171	167
Workers' compensation liability, current	34	37
Potential workers' compensation liability in excess of recorded amount	20
Off-balance sheet financial guarantees and other commitments	32	31
TireHub [Member]
Loss Contingencies [Line Items]
Financing receivable, joint venture, face amount		100	$ 130
Loans receivable, related parties	113	96
Interest Receivable	2	2
Other Assets \| Sumitomo Rubber Industries
Loss Contingencies [Line Items]
Indemnification asset	4
General Product Liability
Loss Contingencies [Line Items]
Loss contingency accrual product liability net	427	438
General Product Liability \| Other Current Liabilities
Loss Contingencies [Line Items]
Loss contingency accrual product liability net	62	46
Asbestos Related Product Liability
Loss Contingencies [Line Items]
Loss contingency accrual product liability net	$ 121	120
Asbestos claims dismissed to date (in claims) \| Segment	160,500
Accrued asbestos-related liability and gross payments to date	$ 587	$ 580
Product liability contingency, evaluation period	10 years	10 years
Asbestos claims receivable	$ 65	$ 66
Expected percentage of asbestos claim related losses recoverable through insurance	55.00%
Asbestos claims receivable, current	$ 10	10
Limits of excess insurance policies		$ 520
Workers' Compensation Claims
Loss Contingencies [Line Items]
Guarantee issued	$ 18			$ 46

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current Assets:
Cash and Cash Equivalents	$ 789	$ 902
Accounts Receivable, less Allowance - $87 ($102 in 2023)	3,043	2,731
Inventories:
Raw Materials	850	785
Work in Process	213	206
Finished Products	2,985	2,707
Inventories	4,048	3,698
Prepaid Expenses and Other Current Assets	324	319
Total Current Assets	8,204	7,650
Goodwill	779	781
Intangible Assets	947	969
Deferred Income Taxes (Note 5)	1,634	1,630
Other Assets	1,108	1,075
Operating Lease Right-of-Use Assets	978	985
Property, Plant and Equipment, less Accumulated Depreciation - $12,671 ($12,472 in 2023)	8,375	8,492
Total Assets	22,025	21,582
Current Liabilities:
Accounts Payable — Trade	4,181	4,326
Compensation and Benefits (Notes 10 and 11)	656	663
Other Current Liabilities	1,029	1,165
Notes Payable and Overdrafts (Note 8)	462	344
Operating Lease Liabilities due Within One Year	199	200
Long Term Debt and Finance Leases due Within One Year (Note 8)	1,182	449
Total Current Liabilities	7,709	7,147
Operating Lease Liabilities	827	825
Long Term Debt and Finance Leases (Note 8)	6,832	6,831
Compensation and Benefits (Notes 10 and 11)	889	974
Deferred Income Taxes (Note 5)	101	83
Other Long Term Liabilities	812	885
Total Liabilities	17,170	16,745
Commitments and Contingent Liabilities (Note 12)
Goodyear Shareholders’ Equity:
Common Stock, no par value: Authorized, 450 million shares, Outstanding shares - 285 million in 2024 (284 million in 2023)	285	284
Capital Surplus	3,146	3,133
Retained Earnings	5,114	5,086
Accumulated Other Comprehensive Loss (Note 14)	(3,842)	(3,835)
Goodyear Shareholders’ Equity	4,703	4,668
Minority Shareholders’ Equity — Nonredeemable	152	169
Total Shareholders’ Equity	4,855	4,837
Total Liabilities and Shareholders’ Equity	$ 22,025	$ 21,582

Fair Value Measurements (Details) - USD ($)
$ in Millions

Jun. 30, 2024

Dec. 31, 2023

Assets:

Investments

$ 20

$ 19

Foreign Exchange Contracts

Total Assets at Fair Value

Liabilities:

Foreign Exchange Contracts

Total Liabilities at Fair Value

Supplemental Fair Value Information

Notes Payable and Overdrafts (Note 8)

462

344

Carrying amount — liability

7,751

7,012

Fixed Rate Debt, Excluding Capital Leases

Supplemental Fair Value Information

Notes Payable and Overdrafts (Note 8)

251

111

Carrying amount — liability

^[1]

5,716

5,720

Fair value — liability

^[1]

5,459

5,488

Variable Rate Debt, Excluding Capital Leases

Supplemental Fair Value Information

Notes Payable and Overdrafts (Note 8)

211

233

Carrying amount — liability

^[1]

2,034

1,292

Fair value — liability

^[1]

1,998

1,286

Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)

Assets:

Investments

Foreign Exchange Contracts

Total Assets at Fair Value

Liabilities:

Foreign Exchange Contracts

Total Liabilities at Fair Value

Supplemental Fair Value Information

Fair value — liability

5,265

5,301

Significant Other Observable Inputs (Level 2)

Assets:

Investments

Foreign Exchange Contracts

Total Assets at Fair Value

Liabilities:

Foreign Exchange Contracts

Total Liabilities at Fair Value

Significant Unobservable Inputs (Level 3)

Assets:

Investments

Foreign Exchange Contracts

Total Assets at Fair Value

Liabilities:

Foreign Exchange Contracts

Total Liabilities at Fair Value

$ 0

[1]

Subsequent Events

6 Months Ended

Jun. 30, 2024

Subsequent Events [Abstract]

Subsequent Events

NOTE 15. SUBSEQUENT EVENTS

On July 22, 2024, we signed a definitive agreement to sell our off-the-road ("OTR") tire business to The Yokohama Rubber Company, Limited ("Yokohama") for $905 million in cash, subject to certain adjustments. Pursuant to a product supply agreement to be entered into with Yokohama in connection with the closing of the transaction, we will manufacture certain OTR tires for Yokohama at some of our manufacturing facilities for an initial period of up to five years after the closing of the transaction. The transaction is subject to regulatory approvals, other customary closing conditions and consultations.

Financing Arrangements and Derivative Financial Instruments

6 Months Ended

Jun. 30, 2024

Financing Arrangements And Derivative Financial Instruments [Abstract]

Financing Arrangements and Derivative Financial Instruments

NOTE 8. FINANCING ARRANGEMENTS AND DERIVATIVE FINANCIAL INSTRUMENTS

At June 30, 2024, we had total credit arrangements of $11,707 million, of which $3,227 million were unused. At that date, approximately 26% of our debt was at variable interest rates averaging 7.16%.

Notes Payable and Overdrafts, Long Term Debt and Finance Leases due Within One Year and Short Term Financing Arrangements

At June 30, 2024, we had short term committed and uncommitted credit arrangements totaling $907 million, of which $403 million were unused. These arrangements are available primarily to certain of our foreign subsidiaries through various banks at quoted market interest rates.

The following table presents amounts due within one year:


	June 30,			December 31,
(In millions)	2024			2023
Chinese credit facilities	$	84		$	15
Other foreign and domestic debt		378			329
Notes Payable and Overdrafts	$	462		$	344
Weighted average interest rate		7.69	%		10.52	%

Chinese credit facilities	$	127		$	54
9.50% Notes due 2025		800			—
Other foreign and domestic debt (including finance leases)		255			395
Long Term Debt and Finance Leases due Within One Year	$	1,182		$	449
Weighted average interest rate		8.70	%		7.27	%
Total obligations due within one year	$	1,644		$	793

Long Term Debt and Finance Leases and Financing Arrangements

At June 30, 2024, we had long term credit arrangements totaling $10,800 million, of which $2,824 million were unused.

The following table presents long term debt and finance leases, net of unamortized discounts, and interest rates:


	June 30, 2024						December 31, 2023
				Interest						Interest
(In millions)	Amount			Rate			Amount			Rate
Notes:
9.5% due 2025	$	801					$	801
5% due 2026		900						900
4.875% due 2027		700						700
7.625% due 2027		126						128
7% due 2028		150						150
2.75% Euro Notes due 2028		428						442
5% due 2029		850						850
5.25% due April 2031		550						550
5.25% due July 2031		600						600
5.625% due 2033		450						450
Credit Facilities:
First lien revolving credit facility due 2026		815			6.58	%		385			6.71	%
European revolving credit facility due 2028		241			5.12	%		—			—
Pan-European accounts receivable facility		204			5.67	%		244			6.11	%
Mexican credit facility		200			7.37	%		84			7.57	%
Chinese credit facilities		181			2.50	%		174			3.94	%
Other foreign and domestic debt(1)		587			7.15	%		591			7.44	%
		7,783						7,049
Unamortized deferred financing fees		(32	)					(37	)
		7,751						7,012
Finance lease obligations(2)		263						268
		8,014						7,280
Less portion due within one year		(1,182	)					(449	)
	$	6,832					$	6,831

(1)

Interest rates are weighted average interest rates primarily related to various foreign credit facilities with customary terms and conditions.

(2)

Includes $1 million of non-cash financing additions during the six months ended June 30, 2024, and $17 million of non-cash financing additions during the twelve months ended December 31, 2023.

NOTES

At June 30, 2024, we had $5,555 million of outstanding notes, compared to $5,571 million at December 31, 2023.

On July 23, 2024, we called for redemption of $300 million in aggregate principal amount of our outstanding 9.5% Senior Notes due 2025 on August 7, 2024 (the “Redemption Date”). The redemption price will be equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest thereon to the Redemption Date.

CREDIT FACILITIES

$2.75 billion Amended and Restated First Lien Revolving Credit Facility due 2026

Our amended and restated first lien revolving credit facility matures on June 8, 2026 and is available in the form of loans or letters of credit. Up to $800 million in letters of credit and $50 million of swingline loans are available for issuance under the facility. Subject to the consent of the lenders whose commitments are to be increased, we may request that the facility be increased by up to $250 million.

Our obligations under the facility are guaranteed by most of our wholly-owned U.S. and Canadian subsidiaries. Our obligations under the facility and our subsidiaries' obligations under the related guarantees are secured by first priority security interests in a variety of collateral. Availability under the facility is subject to a borrowing base, which is based on (i) eligible accounts receivable and inventory of The Goodyear Tire & Rubber Company and certain of its U.S. and Canadian subsidiaries, (ii) the value of our principal trademarks in an amount not to exceed $400 million, (iii) the value of eligible machinery and equipment, and (iv) certain cash in an amount not to exceed $275 million. To the extent that our eligible accounts receivable, inventory and

other components of the borrowing base decline in value, our borrowing base will decrease and the availability under the facility may decrease below $2.75 billion. As of June 30, 2024, our borrowing base was above the facility's stated amount of $2.75 billion.

The facility has customary representations and warranties including, as a condition to borrowing, that all such representations and warranties are true and correct, in all material respects, on the date of the borrowing, including representations as to no material adverse change in our business or financial condition since December 31, 2020. The facility also has customary defaults, including a cross-default to material indebtedness of Goodyear and our subsidiaries.

If Available Cash (as defined in the facility) plus the availability under the facility is greater than $750 million, amounts drawn under the facility will bear interest, at our option, at (i) 125 basis points over SOFR or (ii) 25 basis points over an alternate base rate (the higher of (a) the prime rate, (b) the federal funds effective rate or the overnight bank funding rate plus 50 basis points or (c) SOFR for a one month interest period plus 100 basis points). If Available Cash plus the availability under the facility is equal to or less than $750 million, then amounts drawn under the facility will bear interest, at our option, at (i) 150 basis points over SOFR or (ii) 50 basis points over an alternate base rate. Based on our current liquidity, amounts drawn under this facility bear interest at SOFR plus 125 basis points. Undrawn amounts under the facility are subject to an annual commitment fee of 25 basis points.

At June 30, 2024, we had $815 million of borrowings and $1 million of letters of credit issued under the revolving credit facility. At December 31, 2023, we had $385 million of borrowings and $1 million of letters of credit issued under the revolving credit facility.

€800 million Amended and Restated Senior Secured European Revolving Credit Facility due 2028

The European revolving credit facility matures on January 14, 2028 and consists of (i) a €180 million German tranche that is available only to Goodyear Germany GmbH and (ii) a €620 million all-borrower tranche that is available to Goodyear Europe B.V. ("GEBV"), Goodyear Germany and Goodyear Operations S.A. Up to €175 million of swingline loans and €75 million in letters of credit are available for issuance under the all-borrower tranche. Subject to the consent of the lenders whose commitments are to be increased, we may request that the facility be increased by up to €200 million. Amounts drawn under this facility will bear interest at SOFR plus 150 basis points for loans denominated in U.S. dollars, EURIBOR plus 150 basis points for loans denominated in euros, and SONIA plus 150 basis points for loans denominated in pounds sterling. Undrawn amounts under the facility are subject to an annual commitment fee of 25 basis points.

GEBV and certain of its subsidiaries in the United Kingdom, Luxembourg, France and Germany provide guarantees to support the facility. The German guarantors secure the German tranche on a first-lien basis and the all-borrower tranche on a second-lien basis. GEBV and its other subsidiaries that provide guarantees secure the all-borrower tranche on a first-lien basis and generally do not provide collateral support for the German tranche. The Company and its U.S. and Canadian subsidiaries that guarantee our U.S. first lien revolving credit facility described above also provide unsecured guarantees in support of the facility.

The facility has customary representations and warranties including, as a condition to borrowing, that all such representations and warranties are true and correct, in all material respects, on the date of the borrowing, including representations as to no material adverse change in our business or financial condition since December 31, 2021. The facility also has customary defaults, including a cross-default to material indebtedness of Goodyear and our subsidiaries.

At June 30, 2024, there were no borrowings outstanding under the German tranche, $241 million (€225 million) of borrowings outstanding under the all-borrower tranche and no letters of credit outstanding under the European revolving credit facility. At December 31, 2023, we had no borrowings and no letters of credit outstanding under the European revolving credit facility.

Potential Future Financings

On July 22, 2024, we entered into a commitment letter (the “Commitment Letter”) to provide us a 364-day senior unsecured committed credit facility in an aggregate principal amount not to exceed $500 million (the “Committed Credit Facility”). If drawn, borrowings under the Committed Credit Facility would be required to be used solely to redeem our 9.5% Senior Notes Due 2025 (the “Notes”) that would remain outstanding subsequent to the partial redemption of $300 million of the Notes.

Prior to any funding under the Committed Credit Facility, the aggregate commitments under the Commitment Letter for the Committed Credit Facility would be reduced by the amount of any proceeds received by us in respect of certain asset sales and by the amount of any Notes redeemed, repurchased or otherwise repaid by us after the date of the Commitment Letter (other than the partial redemption of $300 million of the Notes). The commitments of the lenders under the Commitment Letter are subject to the execution and delivery of definitive documentation with respect to the Committed Credit Facility and other customary conditions. The Commitment Letter will terminate on the earliest of (i) the redemption, repurchase or other repayment of all of the Notes without the funding of the Committed Credit Facility, (ii) the execution and delivery of the Committed Credit Facility, (iii) our election to terminate the Commitment Letter, or (iv) June 2, 2025 (the final payment date for the Notes).

Accounts Receivable Securitization Facilities (On-Balance Sheet)

GEBV and certain other of our European subsidiaries are parties to a pan-European accounts receivable securitization facility that expires in 2027. The terms of the facility provide the flexibility to designate annually the maximum amount of funding available under the facility in an amount of not less than €30 million and not more than €450 million. For the period from October 19, 2023 through October 16, 2024, the designated maximum amount of the facility is €300 million.

The facility involves an ongoing daily sale of substantially all of the trade accounts receivable of certain GEBV subsidiaries. These subsidiaries retain servicing responsibilities. Utilization under this facility is based on eligible receivable balances.

The funding commitments under the facility will expire upon the earliest to occur of: (a) October 19, 2027, (b) the non-renewal and expiration (without substitution) of all of the back-up liquidity commitments, (c) the early termination of the facility according to its terms (generally upon an Early Amortisation Event (as defined in the facility), which includes, among other things, events similar to the events of default under our first lien revolving credit facility; certain tax law changes; or certain changes to law, regulation or accounting standards), or (d) our request for early termination of the facility. The facility’s current back-up liquidity commitments will expire on October 16, 2024.

At June 30, 2024, the amounts available and utilized under this program totaled $204 million (€190 million). At December 31, 2023, the amounts available and utilized under this program totaled $244 million (€221 million). The program does not qualify for sale accounting, and accordingly, these amounts are included in Long Term Debt and Finance Leases.

For a description of the collateral securing the credit facilities described above as well as the covenants applicable to them, refer to Note to the Consolidated Financial Statements No. 16, Financing Arrangements and Derivative Financial Instruments, in our 2023 Form 10-K.

Accounts Receivable Factoring Facilities (Off-Balance Sheet)

We have sold certain of our trade receivables under off-balance sheet programs. For these programs, we have concluded that there is generally no risk of loss to us from non-payment of the sold receivables. At June 30, 2024, the gross amount of receivables sold was $656 million, compared to $693 million at December 31, 2023.

Supplier Financing

We have entered into supplier finance programs with several financial institutions. Under these programs, the financial institutions act as our paying agents with respect to accounts payable due to our suppliers. We agree to pay the financial institutions the stated amount of the confirmed invoices from the designated suppliers on the original due dates of the invoices. Invoice payment terms can be up to 120 days based on industry norms for the specific item purchased. We do not pay any fees to the financial institutions and we do not pledge any assets as security or provide other forms of guarantees for these programs. These programs allow our suppliers to sell their receivables to the financial institutions at the sole discretion of the suppliers and the financial institutions on terms that are negotiated among them. We are not always notified when our suppliers sell receivables under these programs. Our obligations to our suppliers, including the amounts due and scheduled payment dates, are not impacted by our suppliers’ decisions to sell their receivables under these programs. The amounts available under these programs were $841 million and $892 million at June 30, 2024 and December 31, 2023, respectively. The amounts confirmed to the financial institutions were $672 million and $580 million at June 30, 2024 and December 31, 2023, respectively, and are included in Accounts Payable — Trade in our Consolidated Balance Sheets. All activity related to these obligations is presented within operating activities on the Consolidated Statements of Cash Flows.

Other Foreign Credit Facilities

A Mexican subsidiary and a U.S. subsidiary have a revolving credit facility in Mexico. At June 30, 2024, the amounts available and utilized under this facility were $200 million. At December 31, 2023, the amounts available and utilized under this facility were $200 million and $84 million, respectively. The facility matures on November 22, 2026, has covenants relating to the Mexican and U.S. subsidiaries and has customary representations and warranties and defaults relating to the Mexican and U.S. subsidiaries' ability to perform their respective obligations under the facility.

Our Chinese subsidiaries have several financing arrangements in China. These facilities contain covenants relating to these Chinese subsidiaries and have customary representations and warranties and defaults relating to these Chinese subsidiaries' ability to perform their respective obligations under these facilities. These facilities are also available for other off-balance sheet utilization, such as letters of credit and bank acceptances.

The following table presents the total amounts available and utilized under the Chinese financing arrangements:


	June 30,		December 31,
(In millions)	2024		2023
Total available	$	964	$	937
Amounts utilized:
Notes Payable and Overdrafts	$	84	$	15
Long Term Debt due Within One Year		127		54
Long Term Debt		54		120
Letters of credit, bank acceptances and other utilization		224		91
Total utilized	$	489	$	280

Maturities	7/24-8/28		2/24-8/28

Certain of these facilities can only be used to finance the expansion of one of our manufacturing facilities in China and the unused amount available under these facilities was $93 million at both June 30, 2024 and December 31, 2023.

DERIVATIVE FINANCIAL INSTRUMENTS

We utilize derivative financial instrument contracts and nonderivative instruments to manage interest rate, foreign exchange and commodity price risks. We have established a control environment that includes policies and procedures for risk assessment and the approval, reporting and monitoring of derivative financial instrument activities. We do not hold or issue derivative financial instruments for trading purposes.

Foreign Currency Contracts

We enter into foreign currency contracts in order to manage the impact of changes in foreign exchange rates on our consolidated results of operations and future foreign currency-denominated cash flows. These contracts may be used to reduce exposure to currency movements affecting existing foreign currency-denominated assets, liabilities, firm commitments and forecasted transactions resulting primarily from trade purchases and sales, equipment acquisitions, intercompany loans and royalty agreements. Contracts hedging short term trade receivables and payables normally have no hedging designation.

The following table presents the fair values for foreign currency hedge contracts that do not meet the criteria to be accounted for as cash flow hedging instruments:


	June 30,			December 31,
(In millions)	2024			2023
Fair Values — Current asset (liability):
Accounts receivable	$	21		$	2
Other current liabilities		(9	)		(27	)

At June 30, 2024 and December 31, 2023, these outstanding foreign currency derivatives had notional amounts of $1,775 million and $1,930 million, respectively, and were primarily related to intercompany loans. Other (Income) Expense included net transaction gains on derivatives of $10 million and $45 million for the three and six months ended June 30, 2024. Other (Income) Expense included net transaction gains on derivatives of $6 million and $4 million for the three and six months ended June 30, 2023. These amounts were substantially offset in Other (Income) Expense by the effect of changing exchange rates on the underlying currency exposures.

The following table presents fair values for foreign currency hedge contracts that meet the criteria to be accounted for as cash flow hedging instruments:


	June 30,		December 31,
(In millions)	2024		2023
Fair Values — Current asset (liability):
Accounts receivable	$	—	$	—
Other current liabilities		—		(2	)

At June 30, 2024 and December 31, 2023, these outstanding foreign currency derivatives had no notional amount and $27 million, respectively, and primarily related to U.S. dollar denominated intercompany transactions. Based on our current forecasts, we believe that it is probable that the underlying hedge transactions will occur within an appropriate time frame in order to continue to qualify for cash flow hedge accounting treatment.

We enter into master netting agreements with counterparties. The amounts eligible for offset under the master netting agreements are not material and we have elected a gross presentation of foreign currency contracts in the Consolidated Balance Sheets.

The following table presents the classification of changes in fair values of foreign currency contracts that meet the criteria to be accounted for as cash flow hedging instruments (before tax and minority):


	Three Months Ended					Six Months Ended
	June 30,					June 30,
(In millions)	2024		2023			2024		2023
Amount of gains (losses) deferred to Accumulated Other Comprehensive Loss ("AOCL")	$	—	$	(2	)	$	—	$	(4	)
Reclassification adjustment for amounts recognized in Cost of Goods Sold ("CGS")		—		—			1		—

No net deferred losses at June 30, 2024 are expected to be reclassified to earnings within the next twelve months.

The counterparties to our foreign currency contracts were considered by us to be substantial and creditworthy financial institutions that were recognized market makers at the time we entered into those contracts. We seek to control our credit exposure to these counterparties by diversifying across multiple counterparties, by setting counterparty credit limits based on long term credit ratings and other indicators of counterparty credit risk such as credit default swap spreads and default probabilities, and by monitoring the financial strength of these counterparties on a regular basis. We also enter into master netting agreements with counterparties when possible. By controlling and monitoring exposure to counterparties in this manner, we believe that we effectively manage the risk of loss due to nonperformance by a counterparty. However, the inability of a counterparty to fulfill its contractual obligations to us could have a material adverse effect on our liquidity, financial position or results of operations in the period in which it occurs.

Costs Associated with Rationalization Programs (Tables)

6 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Roll-Forward of Liability Balance

The following table presents a roll-forward of the liability balance between periods:


	Associate-
(In millions)	Related Costs			Other Costs			Total
Balance at December 31, 2023	$	518		$	16		$	534
2024 Charges		28			26			54
Incurred, net of foreign currency translation of ($13) million and ($1) million, respectively		(79	)		(40	)		(119	)
Reversed to the Statement of Operations		(13	)		—			(13	)
Balance at June 30, 2024	$	454		$	2		$	456

Net Rationalization Charges Included in Income (Loss) Before Income Taxes

The following table shows net rationalization charges included in Income (Loss) before Income Taxes:


	Three Months Ended						Six Months Ended
	June 30,						June 30,
(In millions)	2024			2023			2024			2023
Current Year Plans
Associate Severance and Other Related Costs	$	13		$	68		$	23		$	75
Other Exit Costs		1			—			1			13
Current Year Plans - Net Charges	$	14		$	68		$	24		$	88

Prior Year Plans
Associate Severance and Other Related Costs	$	(9	)	$	(2	)	$	(8	)	$	2
Other Exit Costs		14			6			25			14
Prior Year Plans - Net Charges	$	5		$	4		$	17		$	16
Total Net Charges	$	19		$	72		$	41		$	104
Asset write-offs (recoveries), accelerated depreciation, and accelerated lease costs, net	$	43		$	11		$	94		$	13

Stock Compensation Plans - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 6	$ 11	$ 9	$ 16
Unearned compensation cost related to the unvested portion of all stock-based awards	$ 32		$ 32
Remaining vesting period			through the second quarter of 2027
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments granted (shares)			1.9
Weighted average fair value per share granted (dollars per share)			$ 12.4
Performance Share Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments granted (shares)			1.2
Weighted average fair value per share granted (dollars per share)			$ 11.45

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Basis of Presentation

Operating results for the three and six months ended June 30, 2024 are not necessarily indicative of the results expected in subsequent quarters or for the year ending December 31, 2024.

Recently Issued Accounting Standards

Principles of Consolidation

Restricted Cash

The following table provides a reconciliation of Cash, Cash Equivalents and Restricted Cash as reported within the Consolidated Statements of Cash Flows:


	June 30,
(In millions)	2024		2023
Cash and Cash Equivalents	$	789	$	1,049
Restricted Cash		63		63
Total Cash, Cash Equivalents and Restricted Cash	$	852	$	1,112

Reclassifications and Adjustments

Certain items previously reported in specific financial statement captions have been reclassified to conform to the current presentation.

Commitments and Contingent Liabilities (Tables)

6 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Summary of Recent Approximate Asbestos Claims Activity

A summary of recent approximate asbestos claims activity follows. Because claims are often filed and disposed of by settlement or dismissal in large numbers, the amount and timing of filings, settlements and dismissals and the number of open claims during a particular period can fluctuate significantly.


	Six Months Ended			Year Ended
(Dollars in millions)	June 30, 2024			December 31, 2023
Pending claims, beginning of period		35,800			37,200
New claims filed		450			900
Claims settled/dismissed		(600	)		(2,300	)
Pending claims, end of period		35,650			35,800
Payments(1)	$	6		$	15

(1)

Represents cash payments made during the period by us and our insurers for asbestos litigation defense and claim resolution.

Accounting Policies - Restricted Cash (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Cash and Cash Equivalents	$ 789	$ 902	$ 1,049
Restricted Cash	63		63
Total Cash, Cash Equivalents and Restricted Cash	$ 852	$ 985	$ 1,112	$ 1,311

Earnings Per Share (Tables)

6 Months Ended

Jun. 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					Six Months Ended
	June 30,					June 30,
(In millions, except per share amounts)	2024		2023			2024		2023
Earnings (loss) per share — basic:
Goodyear net income (loss)	$	85	$	(208	)	$	28	$	(309	)
Weighted average shares outstanding		287		285			286		285
Earnings (loss) per common share — basic	$	0.30	$	(0.73	)	$	0.10	$	(1.08	)

Earnings (loss) per share — diluted:
Goodyear net income (loss)	$	85	$	(208	)	$	28	$	(309	)
Weighted average shares outstanding		287		285			286		285
Dilutive effect of stock options and other dilutive securities		1		—			2		—
Weighted average shares outstanding — diluted		288		285			288		285
Earnings (loss) per common share — diluted	$	0.30	$	(0.73	)	$	0.10	$	(1.08	)

Commitments and Contingent Liabilities - Asbestos Claims Activity (Details) - Asbestos Related Product Liability
$ in Millions

6 Months Ended

12 Months Ended

Jun. 30, 2024

USD ($)

Claim

Dec. 31, 2023

USD ($)

Claim

Number of claims filed

Pending claims, beginning of period

35,800

37,200

New claims filed

450

900

Claims settled/dismissed

(600)

(2,300)

Pending claims, end of period

35,650

35,800

Payments | $

^[1]

$ 6

$ 15

[1]	Represents cash payments made during the period by us and our insurers for asbestos litigation defense and claim resolution.

Income Taxes

6 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 5. INCOME TAXES

For the second quarter of 2024, we recorded income tax expense of $60 million on income before income taxes of $140 million. For the first six months of 2024, we recorded income tax expense of $66 million on income before income taxes of $88 million. Income tax expense for the six months ended June 30, 2024 includes a net discrete tax benefit of $1 million.

For the second quarter of 2023, we recorded an income tax benefit of $2 million on a loss before income taxes of $210 million. For the first six months of 2023, we recorded an income tax benefit of $3 million on loss before income taxes of $310 million. Income tax benefit for the three and six months ended June 30, 2023 includes net discrete tax expense of $2 million and $3 million, respectively.

We record taxes based on overall estimated annual effective tax rates. The difference between our effective tax rate and the U.S. statutory rate of 21% for the three and six months ended June 30, 2024 and three and six months ended June 30, 2023 primarily relates to losses in foreign jurisdictions in which no tax benefits are recorded and the discrete items noted above.

The Organisation for Economic Co-operation and Development (OECD) have published the Pillar Two model rules which adopt a global corporate minimum tax of 15% for multinational enterprises with average revenue in excess of €750 million. Certain jurisdictions in which we operate enacted legislation consistent with one or more of the OECD Pillar Two model rules effective in 2024. The model rules include minimum domestic top-up taxes, income inclusion rules, and undertaxed profit rules all aimed to ensure that multinational corporations pay a minimum effective corporate tax rate of 15% in each jurisdiction in which they operate. We do not expect the Pillar Two model rules to materially impact our annual effective tax rate in 2024. However, we are continuing to evaluate the Pillar Two model rules and related legislation and their potential impact on future periods.

We consider both positive and negative evidence when measuring the need for a valuation allowance. The weight given to the evidence is commensurate with the extent to which it may be objectively verified. Current and cumulative financial reporting results are a source of objectively verifiable evidence. We give operating results during the most recent three-year period a significant weight in our analysis. We typically only consider forecasts of future profitability when positive cumulative operating results exist in the most recent three-year period. We perform scheduling exercises to determine if sufficient taxable income of the appropriate character exists in the periods required in order to realize our deferred tax assets with limited lives (such as tax loss carryforwards and tax credits) prior to their expiration. We also consider prudent tax planning strategies (including an assessment of their feasibility) to accelerate taxable income if required to utilize expiring deferred tax assets. A valuation allowance is not required to the extent that, in our judgment, positive evidence exists with a magnitude and duration sufficient to result in a conclusion that it is more likely than not that our deferred tax assets will be realized.

At June 30, 2024 and December 31, 2023, we had approximately $1.3 billion and $1.2 billion of U.S. federal, state and local net deferred tax assets, respectively, inclusive of valuation allowances totaling $22 million in each period, primarily for state tax loss carryforwards with limited lives. As of June 30, 2024, approximately $1.1 billion of these U.S. net deferred tax assets had unlimited lives and approximately $200 million had limited lives, including $22 million of foreign tax credits, and the majority do not start to expire until 2031. As of December 31, 2023, approximately $1.0 billion of these U.S. net deferred tax assets had unlimited lives and approximately $200 million had limited lives, including $22 million of foreign tax credits, and the majority do not start to expire until 2031. In the U.S., as of December 31, 2023, we emerged from a three-year cumulative loss which was driven by business disruptions created by the COVID-19 pandemic. Our U.S. cumulative income for the three-years ended June 30, 2024 is primarily a result of gains from other comprehensive income rather than consistently profitable U.S. operating results. Our U.S. operating results for the first six months of 2024 have shown improvement when compared to the first six months of 2023.

In assessing our ability to utilize our net deferred tax assets, we primarily consider objectively verifiable evidence, including the improvement of our U.S. operating results during the first half of 2024 as a result of lower raw material and transportation costs and benefits from the Goodyear Forward plan compared to the first half of 2023. In addition, we consider our current forecasts of future profitability in assessing our ability to realize our deferred tax assets as well as the impact of tax planning strategies. These forecasts include the impact of recent trends and various macroeconomic factors such as the impact of raw material, transportation, labor and energy costs on our profitability. Our tax planning strategies include accelerating income on cross border transactions, including sales of inventory or raw materials to our subsidiaries, reducing U.S. interest expense by, for example, reducing intercompany loans through repatriating current year earnings of foreign subsidiaries, repatriation of certain foreign royalty income, and other financing transactions, all of which would increase our domestic profitability.

We believe our improvement in U.S. operating results for the six months ended June 30, 2024 compared to the six months ended June 30, 2023, as well as forecasts of future profitability, provide us sufficient positive evidence to conclude that it is more likely than not that, at June 30, 2024, our U.S. net deferred tax assets will be fully utilized. However, macroeconomic factors such as raw material, transportation, labor and energy costs possess a high degree of volatility and can significantly impact our profitability. In addition, certain tax provisions, such as the annual interest expense limitation under Section 163(j) of the Internal Revenue Code of 1986, if amended, could impact our analysis of the realizability of our U.S. deferred tax assets. If our U.S. operating results significantly decline in the future, we may need to record a valuation allowance which could adversely impact our operating results. As such, we will closely monitor our U.S. operations as well as any tax law changes to assess the realizability of our U.S. deferred tax assets.

At June 30, 2024 and December 31, 2023, we also had approximately $1.5 billion of foreign net deferred tax assets and related valuation allowances of approximately $1.3 billion and $1.2 billion, respectively. Our losses in various foreign taxing jurisdictions in recent periods represented sufficient negative evidence to require us to maintain a full valuation allowance against certain of these net foreign deferred tax assets. Most notably, in Luxembourg, we maintain a valuation allowance of approximately $1.0 billion on all of our net deferred tax assets. Each reporting period, we assess available positive and negative evidence and estimate if sufficient future taxable income will be generated to utilize these existing deferred tax assets. We do not

believe that sufficient positive evidence required to release valuation allowances on our foreign deferred tax assets having a significant impact on our financial position or results of operations will exist within the next twelve months.

For the six months ended June 30, 2024, changes to our unrecognized tax benefits did not, and for the full year of 2024 are not expected to, have a significant impact on our financial position or results of operations.

We are open to examination in the United States from 2021 onward and in Germany from 2018 onward. Generally, for our remaining tax jurisdictions, years from 2019 onward are still open to examination.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Financing Arrangements and Derivative Financial Instruments - Other Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Credit arrangements, unused amount	$ 3,227
Debt, percentage bearing variable interest	26.00%
Interest rate	7.16%
Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 11,707
Line of Credit \| Revolving Credit Facility \| First lien revolving credit facility due 2026
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 2,750
Interest rate	6.58%	6.71%
Long-term Debt
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 10,800
Credit arrangements, unused amount	2,824
Short-term Debt
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	907
Credit arrangements, unused amount	$ 403

Commitments and Contingent Liabilities

6 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingent Liabilities

NOTE 12. COMMITMENTS AND CONTINGENT LIABILITIES

Environmental Matters

We have recorded liabilities totaling $84 million and $80 million at June 30, 2024 and December 31, 2023, respectively, for anticipated costs related to various environmental matters, primarily the remediation of numerous waste disposal sites and certain properties sold by us. Of these amounts, $25 million and $27 million were included in Other Current Liabilities at June 30, 2024 and December 31, 2023, respectively. The costs include legal and consulting fees, site studies, the design and implementation of remediation plans, post-remediation monitoring and related activities, and will be paid over several years. The amount of our ultimate liability in respect of these matters may be affected by several uncertainties, primarily the ultimate cost of required remediation and the extent to which other responsible parties contribute. We have limited potential insurance coverage for future environmental claims.

Since many of the remediation activities related to environmental matters vary substantially in duration and cost from site to site and the associated costs for each vary depending on the mix of unique site characteristics, in some cases we cannot reasonably estimate a range of possible losses. Although it is not possible to estimate with certainty the outcome of all of our environmental matters, management believes that potential losses in excess of current reserves for environmental matters, individually and in the aggregate, will not have a material adverse effect on our financial position, cash flows or results of operations.

Workers’ Compensation

We have recorded liabilities, on a discounted basis, totaling $171 million and $167 million for anticipated costs related to workers’ compensation at June 30, 2024 and December 31, 2023, respectively. Of these amounts, $34 million and $37 million were included in Current Liabilities as part of Compensation and Benefits at June 30, 2024 and December 31, 2023, respectively. The costs include an estimate of expected settlements on pending claims, defense costs and a provision for claims incurred but not reported. These estimates are based on our assessment of potential liability using an analysis of available information with respect to pending claims, historical experience and current cost trends. The amount of our ultimate liability in respect of these matters may differ from these estimates. We periodically, and at least annually, update our loss development factors based on actuarial analyses. At June 30, 2024 and December 31, 2023, the liability was discounted using a risk-free rate of return. At June 30, 2024, we estimate that it is reasonably possible that the liability could exceed our recorded amounts by approximately $20 million.

General and Product Liability and Other Litigation

We have recorded liabilities for both asserted and unasserted claims totaling $427 million and $438 million, including related legal fees expected to be incurred, for potential product liability and other tort claims, including asbestos claims, at June 30, 2024 and December 31, 2023, respectively. Of these amounts, $62 million and $46 million were included in Other Current Liabilities at June 30, 2024 and December 31, 2023, respectively. The amounts recorded were estimated based on an assessment of potential liability using an analysis of available information with respect to pending claims, historical experience and, where available, recent and current trends. Based upon that assessment, at June 30, 2024, we do not believe that estimated reasonably possible losses associated with general and product liability claims in excess of the amounts recorded will have a material adverse effect on our financial position, cash flows or results of operations. However, the amount of our ultimate liability in respect of these matters may differ from these estimates.

We have recorded an indemnification asset within Other Assets of $4 million for Sumitomo Rubber Industries, Ltd.'s ("SRI") obligation to indemnify us for certain product liability claims related to products manufactured by a formerly consolidated joint venture entity, subject to certain caps and restrictions.

Asbestos. We are a defendant in numerous lawsuits alleging various asbestos-related personal injuries purported to result from alleged exposure to asbestos in certain products manufactured by us or present in certain of our facilities. Typically, these lawsuits have been brought against multiple defendants in state and federal courts. To date, we have disposed of approximately 160,500 claims by defending, obtaining the dismissal thereof, or entering into a settlement. The sum of our accrued asbestos-related liability and gross payments to date, including legal costs, by us and our insurers totaled approximately $587 million through June 30, 2024 and $580 million through December 31, 2023.


	Six Months Ended			Year Ended
(Dollars in millions)	June 30, 2024			December 31, 2023
Pending claims, beginning of period		35,800			37,200
New claims filed		450			900
Claims settled/dismissed		(600	)		(2,300	)
Pending claims, end of period		35,650			35,800
Payments(1)	$	6		$	15

(1)

Represents cash payments made during the period by us and our insurers for asbestos litigation defense and claim resolution.

We periodically, and at least annually, review our existing reserves for pending claims, including a reasonable estimate of the liability associated with unasserted asbestos claims, and estimate our receivables from probable insurance recoveries. We recorded gross liabilities for both asserted and unasserted claims, inclusive of defense costs, totaling $121 million and $120 million at June 30, 2024 and December 31, 2023, respectively. In determining the estimate of our asbestos liability, we evaluated claims over the next ten-year period. Due to the difficulties in making these estimates, analysis based on new data and/or a change in circumstances arising in the future may result in an increase in the recorded obligation, and that increase could be significant.

We maintain certain primary and excess insurance coverage under coverage-in-place agreements, and also have additional excess liability insurance with respect to asbestos liabilities. After consultation with our outside legal counsel and giving consideration to agreements with certain of our insurance carriers, the financial viability and legal obligations of our insurance carriers and other relevant factors, we determine an amount we expect is probable of recovery from such carriers. We record a receivable with respect to such policies when we determine that recovery is probable and we can reasonably estimate the amount of a particular recovery.

We recorded an insurance receivable related to asbestos claims of $65 million and $66 million at June 30, 2024 and December 31, 2023, respectively. We expect that approximately 55% of asbestos claim related losses would be recoverable through insurance during the ten-year period covered by the estimated liability. Of these amounts, $10 million were included in Current Assets as part of Accounts Receivable at both June 30, 2024 and December 31, 2023. The recorded receivable consists of an amount we expect to collect under coverage-in-place agreements with certain primary and excess insurance carriers as well as an amount we believe is probable of recovery from certain of our other excess insurance carriers.

We believe that, at December 31, 2023, we had approximately $520 million in excess level policy limits applicable to indemnity and defense costs for asbestos products claims under coverage-in-place agreements. We also had additional unsettled excess level policy limits potentially applicable to such costs. In addition, we had coverage under certain primary policies for indemnity and defense costs for asbestos products claims under remaining aggregate limits pursuant to a coverage-in-place agreement, as well as coverage for indemnity and defense costs for asbestos premises claims pursuant to coverage-in-place agreements.

With respect to both asserted and unasserted claims, it is reasonably possible that we may incur a material amount of cost in excess of the current reserve; however, such amounts cannot be reasonably estimated. Coverage under insurance policies is subject to varying characteristics of asbestos claims including, but not limited to, the type of claim (premise vs. product exposure), alleged date of first exposure to our products or premises and disease alleged. Recoveries may also be limited by insurer insolvencies or financial difficulties. Depending upon the nature of these characteristics or events, as well as the resolution of certain legal issues, some portion of the insurance may not be accessible by us.

Other Actions

We are currently a party to various claims, indirect tax assessments and legal proceedings in addition to those noted above. If management believes that a loss arising from these matters is probable and can reasonably be estimated, we record the amount of the loss, or the minimum estimated liability when the loss is estimated using a range and no point within the range is more probable than another. As additional information becomes available, any potential liability related to these matters is assessed and the estimates are revised, if necessary. Based on currently available information, management believes that the ultimate

outcome of these matters, individually and in the aggregate, will not have a material adverse effect on our financial position or overall trends in results of operations.

Our recorded liabilities and estimates of reasonably possible losses for the contingent liabilities described above are based on our assessment of potential liability using the information available to us at the time and, where applicable, any past experience and recent and current trends with respect to similar matters. Our contingent liabilities are subject to inherent uncertainties, and unfavorable judicial or administrative decisions could occur which we did not anticipate. Such an unfavorable decision could include monetary damages, fines or other penalties or an injunction prohibiting us from taking certain actions or selling certain products. If such an unfavorable decision were to occur, it could result in a material adverse impact on our financial position and results of operations in the period in which the decision occurs or in future periods.

Income Tax Matters

The calculation of our tax liabilities involves dealing with uncertainties in the application of complex tax regulations. We recognize liabilities for anticipated tax audit issues based on our estimate of whether, and the extent to which, additional taxes will be due. If we ultimately determine that payment of these amounts is unnecessary, we reverse the liability and recognize a tax benefit during the period in which we determine that the liability is no longer necessary. We also recognize income tax benefits to the extent that it is more likely than not that our positions will be sustained when challenged by the taxing authorities. We derecognize income tax benefits when based on new information we determine that it is no longer more likely than not that our position will be sustained. To the extent we prevail in matters for which liabilities have been established, or determine we need to derecognize tax benefits recorded in prior periods, our results of operations and effective tax rate in a given period could be materially affected. An unfavorable tax settlement would require use of our cash, and lead to recognition of expense to the extent the settlement amount exceeds recorded liabilities and, in the case of an income tax settlement, result in an increase in our effective tax rate in the period of resolution. A favorable tax settlement would be recognized as a reduction of expense to the extent the settlement amount is lower than recorded liabilities and, in the case of an income tax settlement, would result in a reduction in our effective tax rate in the period of resolution.

While the Company applies consistent transfer pricing policies and practices globally, supports transfer prices through economic studies, seeks advance pricing agreements and joint audits to the extent possible and believes its transfer prices to be appropriate, such transfer prices, and related interpretations of tax laws, are occasionally challenged by various taxing authorities globally. We have received various tax assessments challenging our interpretations of applicable tax laws in various jurisdictions. Although we believe we have complied with applicable tax laws, have strong positions and defenses and have historically been successful in defending such claims, our results of operations could be materially adversely affected in the case we are unsuccessful in the defense of existing or future claims.

Binding Commitments and Guarantees

We have off-balance sheet financial guarantees and other commitments totaling $32 million and $31 million at June 30, 2024 and December 31, 2023, respectively. We issue guarantees to financial institutions or other entities on behalf of certain of our affiliates, lessors or customers. We generally do not require collateral in connection with the issuance of these guarantees.

In 2015, as a result of the dissolution of the global alliance with SRI, we issued a guarantee of $46 million to an insurance company related to SRI's obligation to pay certain outstanding workers' compensation claims of a formerly consolidated joint venture entity. As of June 30, 2024, this guarantee amount has been reduced to $18 million. We have concluded the probability of our performance to be remote and, therefore, have not recorded a liability for this guarantee. While there is no fixed duration of this guarantee, we expect the amount of this guarantee to continue to decrease over time as the formerly consolidated joint venture entity pays its outstanding claims.

If our performance under these guarantees is triggered by non-payment or another specified event, we would be obligated to make payment to the financial institution or the other entity, and would typically have recourse to the affiliate, lessor, customer or SRI, as applicable. We are unable to estimate the extent to which our lessors’, customers’ or SRI's assets would be adequate to recover any payments made by us under the related guarantees.

We have an agreement to provide a revolving loan commitment to TireHub. During the first quarter of 2024, the revolving loan commitment increased from $100 million to $130 million. At June 30, 2024, $113 million was drawn on this commitment, which includes $2 million of interest. At December 31, 2023, $96 million was drawn on this commitment, which includes $2 million of interest.

Costs Associated with Rationalization Programs - Roll-Forward of Liability Balance (Parenthetical) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Associate-Related Costs
Restructuring Cost and Reserve [Line Items]
Foreign currency translation	$ (13)
Other Costs
Restructuring Cost and Reserve [Line Items]
Foreign currency translation	$ (1)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Accumulated Other Comprehensive Loss - Changes in AOCL, After Tax and Minority Interest (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 4,837	$ 5,466
Ending balance	4,855	5,273
Foreign Currency Translation Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(1,613)	(1,663)
Other comprehensive income (loss) before reclassifications	(55)	31
Amounts reclassified from accumulated other comprehensive loss	0	0
Ending balance	(1,668)	(1,632)
Unrealized Gains (Losses) from Securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	1	1
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive loss	0	0
Ending balance	1	1
Unrecognized Net Actuarial Losses and Prior Service Costs
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(2,224)	(2,215)
Other comprehensive income (loss) before reclassifications	10	11
Amounts reclassified from accumulated other comprehensive loss	37	69
Ending balance	(2,177)	(2,135)
Deferred Derivative Gains (Losses)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	1	2
Other comprehensive income (loss) before reclassifications	0	(4)
Amounts reclassified from accumulated other comprehensive loss	1	0
Ending balance	2	(2)
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(3,835)	(3,875)
Other comprehensive income (loss) before reclassifications	(45)	38
Amounts reclassified from accumulated other comprehensive loss	38	69
Ending balance	$ (3,842)	$ (3,768)

- Definition

Amount after tax, before reclassification adjustments of other comprehensive income (loss).

+ References + Details

- Definition

Amount after tax of reclassification adjustments of other comprehensive income (loss).

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Capital Stock

6 Months Ended

Jun. 30, 2024

Capital Stock [Abstract]

Capital Stock

NOTE 13. CAPITAL STOCK

Common Stock Repurchases

We may repurchase shares delivered to us by employees as payment for the exercise price of stock options and the withholding taxes due upon the exercise of stock options or the vesting or payment of stock awards. During the first six months of 2024, we did not repurchase any shares from employees.

Financing Arrangements and Derivative Financial Instruments - Long Term Debt and Finance Leases Due Within One Year (Details) - USD ($)
$ in Millions

Jun. 30, 2024

Dec. 31, 2023

Notes Payable, Overdrafts, Long-term Debt and Capital Leases Due Within One Year

Notes Payable and Overdrafts

$ 462

$ 344

Long Term Debt and Finance Leases due Within One Year (Note 8)

$ 1,182

449

Weighted average interest rate

7.16%

Total obligations due within one year

$ 1,644

$ 793

Long Term Debt And Capital Leases, Current

Notes Payable, Overdrafts, Long-term Debt and Capital Leases Due Within One Year

Weighted average interest rate

8.70%

7.27%

Other Foreign and Domestic Debt

Notes Payable, Overdrafts, Long-term Debt and Capital Leases Due Within One Year

Notes Payable and Overdrafts

$ 378

$ 329

Long Term Debt and Finance Leases due Within One Year (Note 8)

$ 255

$ 395

Weighted average interest rate

^[1]

7.15%

7.44%

Chinese credit facilities | Long Term Debt And Capital Leases, Current

Notes Payable, Overdrafts, Long-term Debt and Capital Leases Due Within One Year

Long Term Debt and Finance Leases due Within One Year (Note 8)

$ 127

$ 54

9.50% Notes due 2025

Notes Payable, Overdrafts, Long-term Debt and Capital Leases Due Within One Year

Long Term Debt and Finance Leases due Within One Year (Note 8)

800

Foreign Line of Credit | Chinese credit facilities

Notes Payable, Overdrafts, Long-term Debt and Capital Leases Due Within One Year

Notes Payable and Overdrafts

$ 84

$ 15

Notes Payable and Overdrafts

Notes Payable, Overdrafts, Long-term Debt and Capital Leases Due Within One Year

Weighted average interest rate

7.69%

10.52%

[1]	Interest rates are weighted average interest rates primarily related to various foreign credit facilities with customary terms and conditions.

Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Changes in Accumulated Other Comprehensive Loss by Component, After Tax and Minority Interest

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	)

Reclassifications out of Accumulated Other Comprehensive Loss

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)

Comprehensive Income (Loss) Attributable to Minority Shareholders

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

Net Sales

6 Months Ended

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 million 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 totaled $8 million 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

- 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
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-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
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
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-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

Pension, Savings and Other Postretirement Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2024

Retirement Benefits [Abstract]

Defined Benefit Pension Cost

Defined benefit pension cost follows:


	U.S.						U.S.
	Three Months Ended						Six Months Ended
	June 30,						June 30,
(In millions)	2024			2023			2024			2023
Service cost	$	2		$	2		$	4		$	4
Interest cost		43			52			87			101
Expected return on plan assets		(52	)		(60	)		(104	)		(118	)
Amortization of net losses		24			24			48			49
Net periodic pension cost	$	17		$	18		$	35		$	36
Net curtailments/settlements/termination benefits		—			33			(5	)		33
Total defined benefit pension cost	$	17		$	51		$	30		$	69


	Non-U.S.						Non-U.S.
	Three Months Ended						Six Months Ended
	June 30,						June 30,
(In millions)	2024			2023			2024			2023
Service cost	$	4		$	4		$	9		$	9
Interest cost		26			27			53			54
Expected return on plan assets		(22	)		(23	)		(45	)		(46	)
Amortization of prior service cost		1			1			1			1
Amortization of net losses		5			4			10			9
Net periodic pension cost	$	14		$	13		$	28		$	27
Net curtailments/settlements/termination benefits		—			3			—			3
Total defined benefit pension cost	$	14		$	16		$	28		$	30

Capital Stock - Narrative (Details)	6 Months Ended
Capital Stock - Narrative (Details)	Jun. 30, 2024 shares
Common Stock \| Payments for Share Repurchases Related to Employee Stock Based Compensation
Class of Stock [Line Items]
Common stock repurchased (in shares)	0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 272
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483014/272-10-45-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 272
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482987/272-10-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3

+ Details

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Assets and Liabilities at Fair Value

The following table presents information about assets and liabilities recorded at fair value on the Consolidated Balance Sheets at June 30, 2024 and December 31, 2023:


	Total Carrying Value in the Consolidated Balance Sheets				Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
(In millions)	2024		2023		2024		2023		2024		2023		2024		2023
Assets:
Investments	$	20	$	19	$	20	$	19	$	—	$	—	$	—	$	—
Foreign Exchange Contracts		21		2		—		—		21		2		—		—
Total Assets at Fair Value	$	41	$	21	$	20	$	19	$	21	$	2	$	—	$	—

Liabilities:
Foreign Exchange Contracts	$	9	$	29	$	—	$	—	$	9	$	29	$	—	$	—
Total Liabilities at Fair Value	$	9	$	29	$	—	$	—	$	9	$	29	$	—	$	—

Supplemental Fair Value Information

The following table presents supplemental fair value information about long term fixed rate and variable rate debt, excluding finance leases, at June 30, 2024 and December 31, 2023:


	June 30,		December 31,
(In millions)	2024		2023
Fixed Rate Debt:(1)
Carrying amount — liability	$	5,716	$	5,720
Fair value — liability		5,459		5,488

Variable Rate Debt:(1)
Carrying amount — liability	$	2,034	$	1,292
Fair value — liability		1,998		1,286

(1)

Other (Income) Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Other (Income) Expense (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other Income and Expenses [Abstract]
Non-service related pension and other postretirement benefits cost	$ 27	$ 64	$ 50	$ 93
Financing fees and financial instruments expense	16	17	31	29
Net foreign currency exchange (gains) losses	(4)	29	(3)	41
Interest income	(12)	(18)	(27)	(34)
General and product liability expense - discontinued products	2	1	4	3
Royalty income	(6)	(11)	(11)	(18)
Net (Gains) Losses on Asset Sales (Note 4)	(96)	(60)	(94)	(62)
Miscellaneous (income) expense	1	14	8	9
Other (income) expense	$ (72)	$ 36	$ (42)	$ 61

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ 80	$ (208)	$ 22	$ (307)
Other Comprehensive Income (Loss):
Foreign currency translation, net of tax of ($1) and ($3) in 2024 ($1 and $2 in 2023)	(50)	(4)	(59)	33
Defined benefit plans:
Amortization of prior service cost and unrecognized gains and losses included in total benefit cost, net of tax of $6 and $13 in 2024 ($6 and $13 in 2023)	20	20	41	41
Change in net actuarial losses, net of tax of $6 and $7 in 2024 ($5 and $3 in 2023)	6	13	10	11
Immediate recognition of prior service cost and unrecognized gains and losses due to curtailments, settlements and divestitures, net of tax of $0 and ($1) in 2024 ($8 and $8 in 2023)	0	28	(4)	28
Deferred derivative gains (losses), net of tax of $0 and $0 in 2024 ($0 and ($1) in 2023)	0	(2)	0	(4)
Reclassification adjustment for amounts recognized in income, net of tax of $0 and $0 in 2024 ($0 and $0 in 2023)	0	0	1	0
Other Comprehensive Income (Loss)	(24)	55	(11)	109
Comprehensive Income (Loss)	56	(153)	11	(198)
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	(6)	(1)	(10)	4
Goodyear Comprehensive Income (Loss)	$ 62	$ (152)	$ 21	$ (202)

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for Accounts Receivable	$ 87	$ 102
Accumulated Depreciation	$ 12,671	$ 12,472
Common Stock, par value (in dollars per share)	$ 0	$ 0
Common Stock, shares authorized (in shares)	450	450
Common Stock, shares outstanding (in shares)	285	284

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modification	false
Non-Rule 10b5-1 Arrangement Modification	false

Accumulated Other Comprehensive Loss

6 Months Ended

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

Business Segments (Tables)

6 Months Ended

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)

Rationalizations, Net (Gains) Losses on Asset Sales, Asset Write-offs and Accelerated Depreciation, net


	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

Net Sales - Schedule of Balance of Deferred Revenue Related to Contracts with Customers (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Change in Contract with Customer, Liability [Roll Forward]
Balance at December 31, 2023	$ 28
Revenue deferred during period	101
Revenue recognized during period	(102)
Impact of foreign currency translation	0
Balance at June 30, 2024	$ 27

Other (Income) Expense

6 Months Ended

Jun. 30, 2024

Other Income and Expenses [Abstract]

Other (Income) Expense

NOTE 4. OTHER (INCOME) EXPENSE


	Three Months Ended						Six Months Ended
	June 30,						June 30,
(In millions)	2024			2023			2024			2023
Non-service related pension and other postretirement benefits cost	$	27		$	64		$	50		$	93
Financing fees and financial instruments expense		16			17			31			29
Net foreign currency exchange (gains) losses		(4	)		29			(3	)		41
Interest income		(12	)		(18	)		(27	)		(34	)
General and product liability expense - discontinued products		2			1			4			3
Royalty income		(6	)		(11	)		(11	)		(18	)
Net (gains) losses on asset sales		(96	)		(60	)		(94	)		(62	)
Miscellaneous (income) expense		1			14			8			9
	$	(72	)	$	36		$	(42	)	$	61

Non-service related pension and other postretirement benefits cost consists primarily of the interest cost, expected return on plan assets and amortization components of net periodic cost, as well as curtailments and settlements which are not related to rationalization plans. Pension expense for the six months ended June 30, 2024 includes a pension settlement credit of $5 million related to a premium refund on the purchase of a group annuity contract for the Cooper Tire U.S. Salaried defined benefit pension plan in 2023. Pension expense for the three and six months ended June 30, 2023 includes pension settlement charges of $36 million related to the termination of the Cooper Tire U.S. Salaried and Ireland defined benefit pension plans. For further information, refer to Note to the Consolidated Financial Statements No. 10, Pension, Savings and Other Postretirement Benefit Plans.

Net foreign currency exchange (gains) losses for the three and six months ended June 30, 2023 include losses of $17 million and $19 million, respectively, related to the Turkish lira and $11 million and $19 million, respectively, related to the Argentine peso.

Net gains on asset sales for the three and six months ended June 30, 2024 include an $80 million gain related to the sale of a distribution center in EMEA. Net gains on asset sales for the three and six months ended June 30, 2024 also include a $14 million gain related to a sale and leaseback transaction for a warehouse in Americas. Cash proceeds, which were received during the second quarter of 2024, related to the Americas transaction totaled $16 million. Leaseback terms for this location include a 4-year initial term with one 5-year renewal option. We have determined that it is not probable that we will exercise the renewal option. This transaction resulted in the recognition of Operating Lease Right-of-Use Assets totaling $6 million. Net gains on asset sales for the three and six months ended June 30, 2023 include a $59 million gain related to a sale and leaseback transaction for a warehouse in Americas. Cash proceeds, which were received during the second quarter of 2023, related to this transaction totaled $66 million. Leaseback terms for this location include a 5-year initial term with one 5-year renewal option. We have determined that it is not probable that we will exercise the renewal option. This transaction resulted in the recognition of Operating Lease Right-of-Use Assets totaling $24 million.

Miscellaneous (income) expense for the six months ended June 30, 2024 includes an $8 million loss related to the sale of receivables in Argentina. Miscellaneous (income) expense for the three and six months ended June 30, 2023 includes non-indemnified costs for product liability claims related to products manufactured by a formerly consolidated joint venture entity totaling $4 million and $15 million, respectively, and a $10 million loss related to the sale of a receivable in Argentina. Miscellaneous (income) expense for the six months ended June 30, 2023 also includes $11 million of income related to a favorable court decision setting aside a previous unfavorable verdict on intellectual property-related legal claims and $5 million of income related to the write-off of accumulated foreign currency translation in Russia.

Other (Income) Expense also includes financing fees and financial instruments expense, which consists of commitment fees and charges incurred in connection with financing transactions; interest income; general and product liability expense - discontinued products, which consists of charges for claims against us related primarily to asbestos personal injury claims, net of probable insurance recoveries; and royalty income.

Financing Arrangements and Derivative Financial Instruments - Long Term Debt and Finance Leases Due Within One Year (Parenthetical) (Details)	Jun. 30, 2024	Dec. 31, 2023
9.50% Notes due 2025
Debt Instrument [Line Items]
Interest rate, stated percentage	9.50%	9.50%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Pension, Savings and Other Postretirement Benefit Plans

6 Months Ended

Jun. 30, 2024

Retirement Benefits [Abstract]

Pension, Savings and Other Postretirement Benefits Plans

NOTE 10. PENSION, SAVINGS AND OTHER POSTRETIREMENT BENEFIT PLANS

We provide employees with defined benefit pension or defined contribution savings plans.

Defined benefit pension cost follows:


	U.S.						U.S.
	Three Months Ended						Six Months Ended
	June 30,						June 30,
(In millions)	2024			2023			2024			2023
Service cost	$	2		$	2		$	4		$	4
Interest cost		43			52			87			101
Expected return on plan assets		(52	)		(60	)		(104	)		(118	)
Amortization of net losses		24			24			48			49
Net periodic pension cost	$	17		$	18		$	35		$	36
Net curtailments/settlements/termination benefits		—			33			(5	)		33
Total defined benefit pension cost	$	17		$	51		$	30		$	69


	Non-U.S.						Non-U.S.
	Three Months Ended						Six Months Ended
	June 30,						June 30,
(In millions)	2024			2023			2024			2023
Service cost	$	4		$	4		$	9		$	9
Interest cost		26			27			53			54
Expected return on plan assets		(22	)		(23	)		(45	)		(46	)
Amortization of prior service cost		1			1			1			1
Amortization of net losses		5			4			10			9
Net periodic pension cost	$	14		$	13		$	28		$	27
Net curtailments/settlements/termination benefits		—			3			—			3
Total defined benefit pension cost	$	14		$	16		$	28		$	30

Service cost is recorded in CGS or SAG. Other components of net periodic pension cost are recorded in Other (Income) Expense. Net curtailments, settlements and termination benefits, if any, are recorded in Other (Income) Expense or Rationalizations if related to a rationalization plan.

In the first six months of 2024, a pension settlement credit of $5 million was recorded in Other (Income) Expense. The settlement credit resulted from a premium refund related to the purchase of a group annuity contract for the Cooper Tire U.S. Salaried defined benefit pension plan described below.

During the second quarter of 2023, we settled all plan benefits of the Cooper Tire U.S. Salaried defined benefit pension plan, with lump sum payments to electing participants and the purchase of a group annuity contract. During the second quarter of 2023, we also settled all plan benefits of the Ireland defined benefit pension plan. In the second quarter and first six months of 2023, pension settlement charges of $36 million were recorded in Other (Income) Expense in conjunction with the termination of these plans.

We also provide certain U.S. employees and employees at certain non-U.S. subsidiaries with health care benefits or life insurance benefits upon retirement. Other postretirement benefits expense for the three months ended June 30, 2024 and 2023 was $2 million for each period and for the six months ended June 30, 2024 and 2023 was $4 million for each period.

We expect to contribute $25 million to $35 million to our funded non-U.S. pension plans in 2024. For the three and six months ended June 30, 2024, we contributed $7 million and $16 million, respectively, to our non-U.S. plans.

The expense recognized for our contributions to defined contribution savings plans for the three months ended June 30, 2024 and 2023 was $33 million and $32 million, respectively, and for the six months ended June 30, 2024 and 2023 was $70 million and $67 million, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
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-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480266/715-60-50-3

+ Details

Earnings Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Underwater Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Equivalent shares excluded from weighted average shares outstanding (in shares)	1	2	1	2
In-the-money Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Equivalent shares excluded from weighted average shares outstanding (in shares)		2		1

Subsequent Events - Narrative (Details) $ in Millions	Jul. 22, 2024 USD ($)
Subsequent Event [Member]
Subsequent Event [Line Items]
Product Supply	$ 905

- Definition

Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.

+ References + Details

Other (Income) Expense (Tables)

6 Months Ended

Jun. 30, 2024

Other Income and Expenses [Abstract]

Schedule of Other Income and Expense


	Three Months Ended						Six Months Ended
	June 30,						June 30,
(In millions)	2024			2023			2024			2023
Non-service related pension and other postretirement benefits cost	$	27		$	64		$	50		$	93
Financing fees and financial instruments expense		16			17			31			29
Net foreign currency exchange (gains) losses		(4	)		29			(3	)		41
Interest income		(12	)		(18	)		(27	)		(34	)
General and product liability expense - discontinued products		2			1			4			3
Royalty income		(6	)		(11	)		(11	)		(18	)
Net (gains) losses on asset sales		(96	)		(60	)		(94	)		(62	)
Miscellaneous (income) expense		1			14			8			9
	$	(72	)	$	36		$	(42	)	$	61

Costs Associated with Rationalization Programs - Roll-Forward of Liability Balance (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Restructuring Cost and Reserve [Line Items]
Beginning Balance	$ 534
2024 Charges	54
Incurred, net of foreign currency translation of ($13) million and ($1) million, respectively	(119)
Reversed to the Statement of Operations	(13)
Ending Balance	456
Associate-Related Costs
Restructuring Cost and Reserve [Line Items]
Beginning Balance	518
2024 Charges	28
Incurred, net of foreign currency translation of ($13) million and ($1) million, respectively	(79)
Reversed to the Statement of Operations	(13)
Ending Balance	454
Other Costs
Restructuring Cost and Reserve [Line Items]
Beginning Balance	16
2024 Charges	26
Incurred, net of foreign currency translation of ($13) million and ($1) million, respectively	(40)
Reversed to the Statement of Operations	0
Ending Balance	$ 2

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Net Sales (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Disaggregated Net Sales From Contracts with Customers

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

Balance and Changes in Deferred Revenue Related to Contracts with Customers

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

Consolidated Statements of Shareholders' Equity (Unaudited) (Parenthetical) - shares	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Treasury Stock, Common, Shares	39,600,900	39,600,900	40,501,644	40,835,590	40,860,606	41,391,555

Financing Arrangements and Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2024

Debt Instrument [Line Items]

Schedule Of Long Term Debt and Finance Leases Due Within One Year

The following table presents amounts due within one year:


	June 30,			December 31,
(In millions)	2024			2023
Chinese credit facilities	$	84		$	15
Other foreign and domestic debt		378			329
Notes Payable and Overdrafts	$	462		$	344
Weighted average interest rate		7.69	%		10.52	%

Chinese credit facilities	$	127		$	54
9.50% Notes due 2025		800			—
Other foreign and domestic debt (including finance leases)		255			395
Long Term Debt and Finance Leases due Within One Year	$	1,182		$	449
Weighted average interest rate		8.70	%		7.27	%
Total obligations due within one year	$	1,644		$	793

Schedule of Debt

The following table presents long term debt and finance leases, net of unamortized discounts, and interest rates:


	June 30, 2024						December 31, 2023
				Interest						Interest
(In millions)	Amount			Rate			Amount			Rate
Notes:
9.5% due 2025	$	801					$	801
5% due 2026		900						900
4.875% due 2027		700						700
7.625% due 2027		126						128
7% due 2028		150						150
2.75% Euro Notes due 2028		428						442
5% due 2029		850						850
5.25% due April 2031		550						550
5.25% due July 2031		600						600
5.625% due 2033		450						450
Credit Facilities:
First lien revolving credit facility due 2026		815			6.58	%		385			6.71	%
European revolving credit facility due 2028		241			5.12	%		—			—
Pan-European accounts receivable facility		204			5.67	%		244			6.11	%
Mexican credit facility		200			7.37	%		84			7.57	%
Chinese credit facilities		181			2.50	%		174			3.94	%
Other foreign and domestic debt(1)		587			7.15	%		591			7.44	%
		7,783						7,049
Unamortized deferred financing fees		(32	)					(37	)
		7,751						7,012
Finance lease obligations(2)		263						268
		8,014						7,280
Less portion due within one year		(1,182	)					(449	)
	$	6,832					$	6,831

(1)

Interest rates are weighted average interest rates primarily related to various foreign credit facilities with customary terms and conditions.

(2)

Includes $1 million of non-cash financing additions during the six months ended June 30, 2024, and $17 million of non-cash financing additions during the twelve months ended December 31, 2023.

Schedule Of Fair Values for Foreign Currency Contracts not Designated as Hedging Instruments

The following table presents the fair values for foreign currency hedge contracts that do not meet the criteria to be accounted for as cash flow hedging instruments:


	June 30,			December 31,
(In millions)	2024			2023
Fair Values — Current asset (liability):
Accounts receivable	$	21		$	2
Other current liabilities		(9	)		(27	)

Schedule Of Fair Values for Foreign Currency Contracts Designated as Cash Flow Hedges

The following table presents fair values for foreign currency hedge contracts that meet the criteria to be accounted for as cash flow hedging instruments:


	June 30,		December 31,
(In millions)	2024		2023
Fair Values — Current asset (liability):
Accounts receivable	$	—	$	—
Other current liabilities		—		(2	)

Schedule Of Classification of Changes in Fair Values of Foreign Currency Contracts Designated as Cash Flow Hedging Instruments


	Three Months Ended					Six Months Ended
	June 30,					June 30,
(In millions)	2024		2023			2024		2023
Amount of gains (losses) deferred to Accumulated Other Comprehensive Loss ("AOCL")	$	—	$	(2	)	$	—	$	(4	)
Reclassification adjustment for amounts recognized in Cost of Goods Sold ("CGS")		—		—			1		—

Chinese Credit Facilities [Member]

Debt Instrument [Line Items]

Schedule of Debt

The following table presents the total amounts available and utilized under the Chinese financing arrangements:


	June 30,		December 31,
(In millions)	2024		2023
Total available	$	964	$	937
Amounts utilized:
Notes Payable and Overdrafts	$	84	$	15
Long Term Debt due Within One Year		127		54
Long Term Debt		54		120
Letters of credit, bank acceptances and other utilization		224		91
Total utilized	$	489	$	280

Maturities	7/24-8/28		2/24-8/28

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Earnings Per Share

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 6. EARNINGS PER SHARE

Basic earnings per share are computed based on the weighted average number of common shares outstanding. Diluted earnings per share are calculated to reflect the potential dilution that could occur if securities or other contracts were exercised or converted into common stock.

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


	Three Months Ended					Six Months Ended
	June 30,					June 30,
(In millions, except per share amounts)	2024		2023			2024		2023
Earnings (loss) per share — basic:
Goodyear net income (loss)	$	85	$	(208	)	$	28	$	(309	)
Weighted average shares outstanding		287		285			286		285
Earnings (loss) per common share — basic	$	0.30	$	(0.73	)	$	0.10	$	(1.08	)

Earnings (loss) per share — diluted:
Goodyear net income (loss)	$	85	$	(208	)	$	28	$	(309	)
Weighted average shares outstanding		287		285			286		285
Dilutive effect of stock options and other dilutive securities		1		—			2		—
Weighted average shares outstanding — diluted		288		285			288		285
Earnings (loss) per common share — diluted	$	0.30	$	(0.73	)	$	0.10	$	(1.08	)

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

Financing Arrangements and Derivative Financial Instruments - Classification of Changes in Fair Values of Foreign Currency Contracts (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items]
Amount of gains (losses) deferred to Accumulated Other Comprehensive Loss (''AOCL'')	$ 0	$ (2)	$ 0	$ (4)
Reclassification adjustment for amounts recognized in Cost of Goods Sold (''CGS'')	$ 0	$ 0	$ 1	$ 0

Financing Arrangements and Derivative Financial Instruments - Long Term Debt and Finance Leases, Net of Unamortized Discounts, and Interest Rates (Parenthetical) (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023	Jul. 23, 2024	Jul. 22, 2024
Long-term Debt and Lease Obligation [Abstract]
Non Cash Financing Additions	$ 1	$ 17
9.5% due 2025
Long-term Debt and Lease Obligation [Abstract]
Interest rate, stated percentage	9.50%	9.50%
9.5% due 2025 \| Senior Notes
Long-term Debt and Lease Obligation [Abstract]
Interest rate, stated percentage	9.50%	9.50%	9.50%	9.50%
5% due 2026 \| Senior Notes
Long-term Debt and Lease Obligation [Abstract]
Interest rate, stated percentage	5.00%	5.00%
4.875% due 2027 \| Senior Notes
Long-term Debt and Lease Obligation [Abstract]
Interest rate, stated percentage	4.875%	4.875%
7.625% due 2027 \| Senior Notes
Long-term Debt and Lease Obligation [Abstract]
Interest rate, stated percentage	7.625%	7.625%
7% due 2028 \| Senior Notes
Long-term Debt and Lease Obligation [Abstract]
Interest rate, stated percentage	7.00%	7.00%
2.75% Euro Notes due 2028 \| Euro Notes
Long-term Debt and Lease Obligation [Abstract]
Interest rate, stated percentage	2.75%	2.75%
5% due 2029 \| Senior Notes
Long-term Debt and Lease Obligation [Abstract]
Interest rate, stated percentage	5.00%	5.00%
5.25% due April 2031 \| Senior Notes
Long-term Debt and Lease Obligation [Abstract]
Interest rate, stated percentage	5.25%	5.25%
5.25% due July 2031 \| Senior Notes
Long-term Debt and Lease Obligation [Abstract]
Interest rate, stated percentage	5.25%	5.25%
5.625% due 2033 \| Senior Notes
Long-term Debt and Lease Obligation [Abstract]
Interest rate, stated percentage	5.625%	5.625%

Other (Income) Expense - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other (Income) Expense [Line Items]
Pension Expense			$ 5	$ 36
Interest income	$ 12	$ 18	27	34
Proceeds from sale and leaseback of consumer and commercial tire and service centers	16	66
Recognition of Operating Lease Right-of-Use Assets			6
Sale leaseback transaction net gain	14	59	14	59
Operating lease right of use assets		24		24
Miscellaneous (Income) Expense	72	(36)	$ 42	(61)
Leaseback terms			Leaseback terms for this location include a 5-year initial term with one 5-year renewal option
Argentina [Member]
Other (Income) Expense [Line Items]
Net foreign currency exchange (gains) losses include expense related to out of period adjustment		17		19
Turkish lira [Member]
Other (Income) Expense [Line Items]
Net foreign currency exchange (gains) losses include expense related to out of period adjustment		11		19
EMEA [Member]
Other (Income) Expense [Line Items]
Sale leaseback transaction net gain	80		$ 80
Miscellaneous Income Expense [Member]
Other (Income) Expense [Line Items]
Legal income				11
Income from write-off of accumulated foreign currency translation adjustment				5
Miscellaneous (Income) Expense		$ 4		15
Miscellaneous Income Expense [Member] \| Argentina [Member]
Other (Income) Expense [Line Items]
Miscellaneous (Income) Expense	$ 8		$ 8
Miscellaneous Income Loss Expense				$ 10

Net Sales - Schedule of Disaggregated Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net Sales by reportable segment	$ 4,570	$ 4,867	$ 9,107	$ 9,808
Americas
Net Sales by reportable segment	2,697	2,939	5,285	5,806
Europe, Middle East and Africa
Net Sales by reportable segment	1,279	1,341	2,626	2,833
Asia Pacific
Net Sales by reportable segment	594	587	1,196	1,169
Tire Unit Sales [Member]
Net Sales by reportable segment	3,834	4,147	7,716	8,402
Tire Unit Sales [Member] \| Americas
Net Sales by reportable segment	2,175	2,434	4,297	4,812
Tire Unit Sales [Member] \| Europe, Middle East and Africa
Net Sales by reportable segment	1,093	1,159	2,279	2,487
Tire Unit Sales [Member] \| Asia Pacific
Net Sales by reportable segment	566	554	1,140	1,103
Other Tire and Related Sales [Member]
Net Sales by reportable segment	369	377	702	722
Other Tire and Related Sales [Member] \| Americas
Net Sales by reportable segment	196	211	379	396
Other Tire and Related Sales [Member] \| Europe, Middle East and Africa
Net Sales by reportable segment	150	144	282	283
Other Tire and Related Sales [Member] \| Asia Pacific
Net Sales by reportable segment	23	22	41	43
Retail services and service related sales [Member]
Net Sales by reportable segment	226	220	433	416
Retail services and service related sales [Member] \| Americas
Net Sales by reportable segment	187	173	356	334
Retail services and service related sales [Member] \| Europe, Middle East and Africa
Net Sales by reportable segment	36	38	65	63
Retail services and service related sales [Member] \| Asia Pacific
Net Sales by reportable segment	3	9	12	19
Chemical sales [Member]
Net Sales by reportable segment	134	116	244	256
Chemical sales [Member] \| Americas
Net Sales by reportable segment	134	116	244	256
Chemical sales [Member] \| Europe, Middle East and Africa
Net Sales by reportable segment	0	0	0	0
Chemical sales [Member] \| Asia Pacific
Net Sales by reportable segment	0	0	0	0
Other [Member]
Net Sales by reportable segment	7	7	12	12
Other [Member] \| Americas
Net Sales by reportable segment	5	5	9	8
Other [Member] \| Europe, Middle East and Africa
Net Sales by reportable segment	0	0	0	0
Other [Member] \| Asia Pacific
Net Sales by reportable segment	$ 2	$ 2	$ 3	$ 4

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Topic 280
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-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Paragraph 40
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-4

+ Details

Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Schedule Of Reconciliation of Cash, Cash Equivalents and Restricted Cash

The following table provides a reconciliation of Cash, Cash Equivalents and Restricted Cash as reported within the Consolidated Statements of Cash Flows:


	June 30,
(In millions)	2024		2023
Cash and Cash Equivalents	$	789	$	1,049
Restricted Cash		63		63
Total Cash, Cash Equivalents and Restricted Cash	$	852	$	1,112

Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Tax on foreign currency translation	$ (1)	$ 1	$ (3)	$ 2
Defined benefit plans:
Tax on amortization of prior service cost and unrecognized gains and losses included in total benefit cost	6	6	13	13
Tax on (increase)/decrease in net actuarial losses	6	5	7	3
Tax on immediate recognition of prior service cost and unrecognized gains and losses due to curtailments, settlements, and divestitures	0	8	(1)	8
Tax effect of deferred derivative gains (losses)	0	0	0	(1)
Tax effect of reclassification adjustment for amounts recognized in income	$ 0	$ 0	$ 0	$ 0

Costs Associated with Rationalization Programs - Narrative (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) Employee	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) Employee	Jun. 30, 2023 USD ($)	Jul. 31, 2024 Employee	Dec. 31, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)	$ 19	$ 72	$ 41	$ 104
Cash charges			$ 54
Expected number of position to be released (in employees) \| Employee			3,050
Accrued related plans	5		$ 5
Restructuring reserve	456		456			$ 534
Rationalization charges to date	920		920
Future rationalization charges expected	$ 230		230
Number of associates released \| Employee	50
Other Current Liabilities	$ 1,029		1,029			1,165
Amiens Labor Claims
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	5		5
February 2024
Restructuring Cost and Reserve [Line Items]
Accrued related plans	10		10
June 2024
Restructuring Cost and Reserve [Line Items]
Number Of Job Reduction \| Employee					100
Non Cash Charges	10		10
Estimated total pre-tax charges			28
Accrued related plans	9		9
EMEA
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)			13
Prior Year Plans
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)	5	4	$ 17	16
Expected number of position to be released (in employees) \| Employee			900
Restructuring reserve	4		$ 4
Prior Year Plans \| Selling Administrative and General Expense
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)	1		1
Current Year Plans
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)	$ 14	68	24	88
Expected number of position to be released (in employees) \| Employee	750
AUSTRALIA \| Prior Year Plans
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)	$ 2		3
AMERICAS \| Prior Year Plans
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)			2
AMERICAS \| Prior Year Plans \| Selling Administrative and General Expense
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)	1
Russia \| Prior Year Plans
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)				2
South Africa \| Prior Year Plans
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)		2
EMEA \| Prior Year Plans
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)	2		2
Reversals Charges [Member] \| Prior Year Plans
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)	12	4	13	6
Global SAG headcount \| Prior Year Plans
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)				4
Gadsden Restructuring Plan to Offer Voluntary Buy-outs to Certain Associates \| Prior Year Plans
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)				3
Melksham \| Prior Year Plans
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)	3	4	7	6
Cooper Tier
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	5		5
Cooper Tier \| Prior Year Plans
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)		2		4
Fulda
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	242		242
Fulda \| Selling Administrative and General Expense
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	10		10
Fulda \| EMEA
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	143		143
Fulda \| AUSTRALIA
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	15		15
Fulda And Furstenwalde [Member] \| Prior Year Plans
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)	6		8
Associate-Related Costs
Restructuring Cost and Reserve [Line Items]
Cash charges			28
Restructuring reserve	454		454			518
Other Current Liabilities	192		192			239
Associate-Related Costs \| June 2024
Restructuring Cost and Reserve [Line Items]
Cash charges			18
Associate-Related Costs \| Prior Year Plans
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)	(9)	(2)	(8)	2
Associate-Related Costs \| Current Year Plans
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)	13	68	23	75
Gadsden [Member] \| Prior Year Plans
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)			3
Other Exit Costs
Restructuring Cost and Reserve [Line Items]
Cash charges			26
Restructuring reserve	2		2			$ 16
Other Exit Costs \| Prior Year Plans
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)	14	6	25	14
Other Exit Costs \| Current Year Plans
Restructuring Cost and Reserve [Line Items]
Net Rationalization Charges (Note 3)	1	$ 0	1	$ 13
Global Operations And Technology Organization
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	4		4
Global Operations And Technology Organization \| EMEA Distribution Network
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	$ 4		$ 4

Financing Arrangements and Derivative Financial Instruments - Fair Values for Foreign Currency Contracts (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred Tax Liabilities, Unrealized Currency Transaction Losses	$ 0		$ 0
Foreign currency derivatives, net transaction gains (losses)	10	$ 6	45	$ 4
Not Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, notional amount	1,775		1,775		$ 1,930
Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, notional amount	0		0		27
Accounts receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value - asset, not designated as hedging instrument	21		21		2
Fair value - asset, designated as hedging instrument	0		0		0
Other Current Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value - liability, not designated as hedging instrument	(9)		(9)		(27)
Fair value - liability, designated as hedging instrument	$ 0		$ 0		$ (2)

Business Segments - Business Segment Reporting Information (Details) (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Other	$ 40		$ 67
Insurance Deductible For Severe Weather Event In Tupelo [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Other		$ 14		$ 14
Insurance Deductible For Severe Weather Event In Mississippi [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Other		$ 14		$ 14

Earnings Per Share - Basic and Diluted Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings (loss) per share - basic:
Goodyear net income (loss)	$ 85	$ (208)	$ 28	$ (309)
Weighted average shares outstanding	287	285	286	285
Earnings (loss) per common share - basic	$ 0.3	$ (0.73)	$ 0.1	$ (1.08)
Earnings (loss) per share — diluted:
Net Income (Loss)	$ 85	$ (208)	$ 28	$ (309)
Weighted Average Shares Outstanding (Note 6)	287	285	286	285
Dilutive effect of stock options and other dilutive securities	1	0	2	0
Weighted average shares outstanding - diluted	288	285	288	285
Earnings (loss) per common share - diluted	$ 0.3	$ (0.73)	$ 0.1	$ (1.08)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Accumulated Other Comprehensive Loss - Schedule of Comprehensive Income (Loss) Attributable to Minority Shareholders (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Equity [Abstract]
Net Income (Loss) Attributable to Minority Shareholders	$ (5)	$ 0	$ (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

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-SubTopic 10
-Topic 810
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-20

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(23))
-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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-Name Accounting Standards Codification
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-Publisher FASB
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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-Topic 810
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-Section 45
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-URI https://asc.fasb.org/1943274/2147481231/810-10-45-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
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-Section 55
-Paragraph 4K
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481175/810-10-55-4K

+ Details

- Definition

Amount of Net Income (Loss) attributable to noncontrolling interest.

+ References

+ Details