$GT
GOODYEAR TIRE & RUBBER CO /OH/

2024 Q2 Form 10-Q Financial Statement

#000095017024054023 Filed on May 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $4.570B $4.537B
YoY Change -6.1% -8.18%
Cost Of Revenue $3.622B $3.715B
YoY Change -12.15% -11.4%
Gross Profit $948.0M $822.0M
YoY Change 27.42% 9.89%
Gross Profit Margin 20.74% 18.12%
Selling, General & Admin $731.0M $696.0M
YoY Change 3.25% 4.82%
% of Gross Profit 77.11% 84.67%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $262.0M $284.0M
YoY Change 2.75% 13.15%
% of Gross Profit 27.64% 34.55%
Operating Expenses $731.0M $696.0M
YoY Change -7.7% 4.82%
Operating Profit $217.0M $126.0M
YoY Change -552.08% 50.0%
Interest Expense $130.0M $126.0M
YoY Change -187.25% -0.79%
% of Operating Profit 59.91% 100.0%
Other Income/Expense, Net $72.00M -$30.00M
YoY Change -300.0% 20.0%
Pretax Income $140.0M -$52.00M
YoY Change -166.67% -48.0%
Income Tax $60.00M $6.000M
% Of Pretax Income 42.86%
Net Earnings $85.00M -$57.00M
YoY Change -140.87% -43.56%
Net Earnings / Revenue 1.86% -1.26%
Basic Earnings Per Share $0.30 -$0.20
Diluted Earnings Per Share $0.30 -$0.20
COMMON SHARES
Basic Shares Outstanding 284.7M 284.0M
Diluted Shares Outstanding 288.0M 286.0M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $789.0M $893.0M
YoY Change -24.79% -17.47%
Cash & Equivalents $789.0M $893.0M
Short-Term Investments
Other Short-Term Assets $324.0M $305.0M
YoY Change -22.12% -8.68%
Inventory $4.048B $3.831B
Prepaid Expenses
Receivables $3.043B $3.033B
Other Receivables $0.00 $0.00
Total Short-Term Assets $8.204B $8.062B
YoY Change -7.38% -12.49%
LONG-TERM ASSETS
Property, Plant & Equipment $9.353B $9.432B
YoY Change 0.82% 1.43%
Goodwill $779.0M $780.0M
YoY Change -23.48% -23.45%
Intangibles $947.0M $962.0M
YoY Change -3.66% -3.32%
Long-Term Investments
YoY Change
Other Assets $1.108B $1.094B
YoY Change -58.63% -4.7%
Total Long-Term Assets $13.82B $13.93B
YoY Change -0.97% -0.21%
TOTAL ASSETS
Total Short-Term Assets $8.204B $8.062B
Total Long-Term Assets $13.82B $13.93B
Total Assets $22.03B $21.99B
YoY Change -3.46% -5.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.181B $4.223B
YoY Change -4.13% -5.14%
Accrued Expenses $855.0M $829.0M
YoY Change 5.04% 3.37%
Deferred Revenue $19.00M $20.00M
YoY Change 11.76% 11.11%
Short-Term Debt $462.0M $388.0M
YoY Change -14.29% -24.95%
Long-Term Debt Due $1.182B $395.0M
YoY Change 384.43% 36.21%
Total Short-Term Liabilities $7.709B $7.020B
YoY Change 11.08% 0.52%
LONG-TERM LIABILITIES
Long-Term Debt $6.832B $7.483B
YoY Change -14.89% -8.79%
Other Long-Term Liabilities $812.0M $856.0M
YoY Change -66.98% 33.75%
Total Long-Term Liabilities $812.0M $856.0M
YoY Change -92.26% 33.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.709B $7.020B
Total Long-Term Liabilities $812.0M $856.0M
Total Liabilities $17.17B $17.19B
YoY Change -3.04% -3.12%
SHAREHOLDERS EQUITY
Retained Earnings $5.114B $5.029B
YoY Change -6.44% -11.37%
Common Stock $3.146B $3.140B
YoY Change 0.7% 0.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.703B $4.635B
YoY Change
Total Liabilities & Shareholders Equity $22.03B $21.99B
YoY Change -3.46% -5.09%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $85.00M -$57.00M
YoY Change -140.87% -43.56%
Depreciation, Depletion And Amortization $262.0M $284.0M
YoY Change 2.75% 13.15%
Cash From Operating Activities -$67.00M -$451.0M
YoY Change -119.65% -41.81%
INVESTING ACTIVITIES
Capital Expenditures $316.0M $318.0M
YoY Change 28.98% 9.28%
Acquisitions
YoY Change
Other Investing Activities $59.00M $0.00
YoY Change 5.36% -100.0%
Cash From Investing Activities -$257.0M -$231.0M
YoY Change 35.98% -49.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $3.332B
YoY Change 76.95%
Cash From Financing Activities 235.0M 661.0M
YoY Change -218.09% -38.51%
NET CHANGE
Cash From Operating Activities -67.00M -451.0M
Cash From Investing Activities -257.0M -231.0M
Cash From Financing Activities 235.0M 661.0M
Net Change In Cash -89.00M -31.00M
YoY Change 89.36% -79.05%
FREE CASH FLOW
Cash From Operating Activities -$67.00M -$451.0M
Capital Expenditures $316.0M $318.0M
Free Cash Flow -$383.0M -$769.0M
YoY Change -498.96% -27.86%

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<p style="font-size:10pt;margin-top:5pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;text-decoration:underline;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Reclassifications and Adjustments</span></p><p style="font-size:10pt;margin-top:5pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Certain</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
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