$GT
GOODYEAR TIRE & RUBBER CO /OH/

2023 Q2 Form 10-Q Financial Statement

#000095017023018114 Filed on May 05, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $4.867B $4.941B
YoY Change -6.62% 0.67%
Cost Of Revenue $4.123B $4.193B
YoY Change -1.17% 5.72%
Gross Profit $744.0M $748.0M
YoY Change -28.46% -20.59%
Gross Profit Margin 15.29% 15.14%
Selling, General & Admin $708.0M $664.0M
YoY Change -1.26% -3.49%
% of Gross Profit 95.16% 88.77%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $255.0M $251.0M
YoY Change 7.59% 2.87%
% of Gross Profit 34.27% 33.56%
Operating Expenses $792.0M $664.0M
YoY Change 10.46% -3.49%
Operating Profit -$48.00M $84.00M
YoY Change -114.86% -66.93%
Interest Expense -$149.0M $127.0M
YoY Change -235.45% 22.12%
% of Operating Profit 151.19%
Other Income/Expense, Net -$36.00M -$25.00M
YoY Change -155.38% 400.0%
Pretax Income -$210.0M -$100.0M
YoY Change -183.33% -174.63%
Income Tax -$2.000M -$1.000M
% Of Pretax Income
Net Earnings -$208.0M -$101.0M
YoY Change -225.3% -205.21%
Net Earnings / Revenue -4.27% -2.04%
Basic Earnings Per Share -$0.73 -$0.35
Diluted Earnings Per Share -$0.73 -$0.35
COMMON SHARES
Basic Shares Outstanding 283.4M 283.0M
Diluted Shares Outstanding 285.0M 285.0M

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.049B $1.082B
YoY Change -15.95% 2.75%
Cash & Equivalents $1.049B $1.082B
Short-Term Investments
Other Short-Term Assets $416.0M $334.0M
YoY Change 48.57% 26.52%
Inventory $4.360B $4.553B
Prepaid Expenses
Receivables $3.033B $3.244B
Other Receivables $0.00 $0.00
Total Short-Term Assets $8.858B $9.213B
YoY Change -3.96% 7.59%
LONG-TERM ASSETS
Property, Plant & Equipment $9.277B $9.299B
YoY Change 2.52% 0.22%
Goodwill $1.018B $1.019B
YoY Change 2.31% 1.29%
Intangibles $983.0M $995.0M
YoY Change -3.91% -3.77%
Long-Term Investments
YoY Change
Other Assets $2.678B $1.148B
YoY Change 143.68% -0.95%
Total Long-Term Assets $13.96B $13.96B
YoY Change 2.03% -0.72%
TOTAL ASSETS
Total Short-Term Assets $8.858B $9.213B
Total Long-Term Assets $13.96B $13.96B
Total Assets $22.81B $23.17B
YoY Change -0.38% 2.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.361B $4.452B
YoY Change -5.05% 2.6%
Accrued Expenses $814.0M $802.0M
YoY Change -5.68% -5.65%
Deferred Revenue $17.00M $18.00M
YoY Change -19.05% -14.29%
Short-Term Debt $539.0M $517.0M
YoY Change 3.85% -9.3%
Long-Term Debt Due $244.0M $290.0M
YoY Change -22.78% -17.14%
Total Short-Term Liabilities $6.940B $6.984B
YoY Change -2.54% 0.56%
LONG-TERM LIABILITIES
Long-Term Debt $8.027B $8.204B
YoY Change 6.05% 10.12%
Other Long-Term Liabilities $2.459B $640.0M
YoY Change 314.67% 12.68%
Total Long-Term Liabilities $10.49B $640.0M
YoY Change 1668.3% 12.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.940B $6.984B
Total Long-Term Liabilities $10.49B $640.0M
Total Liabilities $17.71B $17.75B
YoY Change 0.88% 2.58%
SHAREHOLDERS EQUITY
Retained Earnings $5.466B $5.674B
YoY Change -6.32% 0.09%
Common Stock $3.124B $3.120B
YoY Change 0.32% 0.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares $40.84M $40.86M
Shareholders Equity $5.105B $5.253B
YoY Change
Total Liabilities & Shareholders Equity $22.81B $23.17B
YoY Change -0.38% 2.43%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$208.0M -$101.0M
YoY Change -225.3% -205.21%
Depreciation, Depletion And Amortization $255.0M $251.0M
YoY Change 7.59% 2.87%
Cash From Operating Activities $341.0M -$775.0M
YoY Change 91.57% 9.0%
INVESTING ACTIVITIES
Capital Expenditures $245.0M $291.0M
YoY Change -204.26% 5.43%
Acquisitions
YoY Change
Other Investing Activities $56.00M $10.00M
YoY Change -57.58% 100.0%
Cash From Investing Activities -$189.0M -$456.0M
YoY Change 83.5% 52.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.883B
YoY Change -10.93%
Cash From Financing Activities -199.0M 1.075B
YoY Change -232.67% 9.47%
NET CHANGE
Cash From Operating Activities 341.0M -775.0M
Cash From Investing Activities -189.0M -456.0M
Cash From Financing Activities -199.0M 1.075B
Net Change In Cash -47.00M -148.0M
YoY Change -120.89% 448.15%
FREE CASH FLOW
Cash From Operating Activities $341.0M -$775.0M
Capital Expenditures $245.0M $291.0M
Free Cash Flow $96.00M -$1.066B
YoY Change -76.76% 8.0%

Facts In Submission

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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:5.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;text-decoration:underline;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Reclassifications and Adjustments</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:5.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Certain</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> items previously reported in specific financial statement captions have been reclassified to conform to the current presentation.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
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