$GT
GOODYEAR TIRE & RUBBER CO /OH/

2020 Q1 Form 10-Q Financial Statement

#000156459020020061 Filed on April 30, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $3.056B $3.598B
YoY Change -15.06% -6.06%
Cost Of Revenue $2.552B $2.879B
YoY Change -11.36% -3.26%
Gross Profit $504.0M $719.0M
YoY Change -29.9% -15.81%
Gross Profit Margin 16.49% 19.98%
Selling, General & Admin $581.0M $547.0M
YoY Change 6.22% -7.45%
% of Gross Profit 115.28% 76.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $196.0M $193.0M
YoY Change 1.55% -3.02%
% of Gross Profit 38.89% 26.84%
Operating Expenses $581.0M $547.0M
YoY Change 6.22% -7.45%
Operating Profit -$77.00M $172.0M
YoY Change -144.77% -34.6%
Interest Expense $73.00M $85.00M
YoY Change -14.12% 11.84%
% of Operating Profit 49.42%
Other Income/Expense, Net -$27.00M -$22.00M
YoY Change 22.73% -40.54%
Pretax Income -$368.0M -$38.00M
YoY Change 868.42% -133.63%
Income Tax $249.0M $6.000M
% Of Pretax Income
Net Earnings -$619.0M -$61.00M
YoY Change 914.75% -181.33%
Net Earnings / Revenue -20.26% -1.7%
Basic Earnings Per Share -$2.65 -$0.26
Diluted Earnings Per Share -$2.65 -$0.26
COMMON SHARES
Basic Shares Outstanding 234.0M 232.0M
Diluted Shares Outstanding 234.0M 232.0M

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $971.0M $860.0M
YoY Change 12.91% 2.75%
Cash & Equivalents $971.0M $860.0M
Short-Term Investments
Other Short-Term Assets $308.0M $278.0M
YoY Change 10.79% 4.12%
Inventory $2.919B $2.940B
Prepaid Expenses
Receivables $2.025B $2.446B
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.173B $6.492B
YoY Change -4.91% 0.06%
LONG-TERM ASSETS
Property, Plant & Equipment $7.812B $7.243B
YoY Change 7.86% -3.45%
Goodwill $369.0M $563.0M
YoY Change -34.46% -7.1%
Intangibles $135.0M $136.0M
YoY Change -0.74% -2.86%
Long-Term Investments $0.00
YoY Change
Other Assets $941.0M $1.160B
YoY Change -18.88% 44.1%
Total Long-Term Assets $10.52B $11.78B
YoY Change -10.72% 6.21%
TOTAL ASSETS
Total Short-Term Assets $6.173B $6.492B
Total Long-Term Assets $10.52B $11.78B
Total Assets $16.69B $18.27B
YoY Change -8.66% 3.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.645B $2.737B
YoY Change -3.36% -2.74%
Accrued Expenses $661.0M $695.0M
YoY Change -4.89% 30.15%
Deferred Revenue $24.00M $37.00M
YoY Change -35.14% -26.0%
Short-Term Debt $691.0M $495.0M
YoY Change 39.6% 49.1%
Long-Term Debt Due $621.0M $466.0M
YoY Change 33.26% 42.51%
Total Short-Term Liabilities $5.266B $5.087B
YoY Change 3.52% 2.95%
LONG-TERM LIABILITIES
Long-Term Debt $5.212B $5.545B
YoY Change -6.01% -0.98%
Other Long-Term Liabilities $483.0M $465.0M
YoY Change 3.87% -6.63%
Total Long-Term Liabilities $483.0M $465.0M
YoY Change 3.87% -6.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.266B $5.087B
Total Long-Term Liabilities $483.0M $465.0M
Total Liabilities $12.99B $13.24B
YoY Change -1.87% 4.95%
SHAREHOLDERS EQUITY
Retained Earnings $5.444B $6.574B
YoY Change -17.19% 8.82%
Common Stock $2.146B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares $45.47M $45.99M
Shareholders Equity $3.510B $4.808B
YoY Change
Total Liabilities & Shareholders Equity $16.69B $18.27B
YoY Change -8.66% 3.94%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$619.0M -$61.00M
YoY Change 914.75% -181.33%
Depreciation, Depletion And Amortization $196.0M $193.0M
YoY Change 1.55% -3.02%
Cash From Operating Activities -$561.0M -$364.0M
YoY Change 54.12% -6.43%
INVESTING ACTIVITIES
Capital Expenditures $211.0M $221.0M
YoY Change -4.52% -10.89%
Acquisitions
YoY Change
Other Investing Activities $9.000M $16.00M
YoY Change -43.75%
Cash From Investing Activities -$257.0M -$244.0M
YoY Change 5.33% -1.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $1.600B $1.223B
YoY Change 30.83% -0.24%
Cash From Financing Activities 939.0M 645.0M
YoY Change 45.58% 61.65%
NET CHANGE
Cash From Operating Activities -561.0M -364.0M
Cash From Investing Activities -257.0M -244.0M
Cash From Financing Activities 939.0M 645.0M
Net Change In Cash 62.00M 37.00M
YoY Change 67.57% -116.67%
FREE CASH FLOW
Cash From Operating Activities -$561.0M -$364.0M
Capital Expenditures $211.0M $221.0M
Free Cash Flow -$772.0M -$585.0M
YoY Change 31.97% -8.16%

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CY2019Q4 us-gaap Stockholders Equity
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CY2019Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Tax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2019Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2019Q1 us-gaap Goodwill Impairment Loss
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CY2019Q1 us-gaap Deferred Income Tax Expense Benefit
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CY2019Q1 gt Defined Benefit Plan Curtailments And Settlements
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CY2019Q1 us-gaap Restructuring Charges
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CY2019Q1 us-gaap Payments For Restructuring
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CY2019Q1 us-gaap Operating Lease Cost
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CY2020Q1 us-gaap Operating Lease Payments
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CY2019Q1 us-gaap Operating Lease Payments
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CY2020Q1 gt Pension Contributions And Direct Payments
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CY2019Q1 gt Pension Contributions And Direct Payments
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CY2019Q1 us-gaap Increase Decrease In Accounts Receivable
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CY2019Q1 us-gaap Increase Decrease In Inventories
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CY2020Q1 us-gaap Increase Decrease In Accounts Payable Trade
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CY2020Q1 us-gaap Increase Decrease In Employee Related Liabilities
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CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2019Q1 us-gaap Repayments Of Short Term Debt
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CY2020Q1 us-gaap Repayments Of Long Term Debt
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CY2019Q1 us-gaap Repayments Of Long Term Debt
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CY2019Q1 us-gaap Payments Of Dividends Common Stock
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CY2019Q1 us-gaap Proceeds From Payments For Other Financing Activities
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CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019Q4 us-gaap Financing Receivable Allowance For Credit Losses
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CY2020Q1 us-gaap Financing Receivable Allowance For Credit Loss Foreign Currency Translation
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CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses
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CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2020Q1 us-gaap Restricted Cash And Cash Equivalents
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CY2019Q1 us-gaap Restricted Cash And Cash Equivalents
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CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2020Q1 us-gaap Prior Period Reclassification Adjustment Description
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<p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;"><span style="text-decoration:underline;">Reclassifications and Adjustments</span></p> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain items previously reported in specific financial statement captions have been reclassified to conform to the current presentation.</p>
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CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2020Q1 us-gaap Contract With Customer Liability Revenue Recognized
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CY2020Q1 us-gaap Contract With Customer Liability
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CY2020Q1 us-gaap Restructuring Reserve
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CY2020Q1 gt Restructuring Charges Excluding Reversals And Pension Gains
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CY2019Q1 us-gaap Restructuring Charges
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CY2019Q1 us-gaap Restructuring Reserve Accelerated Depreciation
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CY2019Q4 us-gaap Restructuring And Related Cost Cost Incurred To Date1
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CY2020Q1 us-gaap Restructuring And Related Cost Expected Cost Remaining1
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CY2019Q1 gt Defined Benefit Plan Non Service Cost
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CY2020Q1 gt Charges Related To Financing Fees And Financial Instruments
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CY2019Q1 gt Charges Related To Financing Fees And Financial Instruments
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CY2019Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2020Q1 gt General And Product Liability Discontinued Products Gains Losses
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CY2020Q1 us-gaap Royalty Income Nonoperating
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CY2019Q1 us-gaap Royalty Income Nonoperating
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CY2020Q1 us-gaap Interest Income Other
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CY2020Q1 us-gaap Income Tax Expense Benefit
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CY2019Q1 us-gaap Income Tax Expense Benefit
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CY2020Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2019Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2019Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
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CY2020Q1 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
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CY2020Q1 gt Cares Act Of2020 Net Operating Loss Carryback Period
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CY2020Q1 gt Cares Act Of2020 Number Of Equal Annual Installments To Receive Refund Alternative Minimum Tax Credit Carryforwards
CARESActOf2020NumberOfEqualAnnualInstallmentsToReceiveRefundAlternativeMinimumTaxCreditCarryforwards
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CY2020Q1 us-gaap Net Income Loss
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CY2019Q1 us-gaap Net Income Loss
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CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2019Q1 us-gaap Earnings Per Share Basic
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CY2019Q1 us-gaap Net Income Loss
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CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2019Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2019Q1 us-gaap Earnings Per Share Diluted
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CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2019Q1 us-gaap Goodwill Impairment Loss
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CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2020Q1 us-gaap Goodwill Impairment Loss
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CY2019Q1 us-gaap Goodwill Impairment Loss
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CY2020Q1 us-gaap Restructuring Charges
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CY2020Q1 us-gaap Goodwill
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CY2020Q1 us-gaap Intangible Assets Net Excluding Goodwill
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CY2019Q4 us-gaap Goodwill
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CY2019Q4 us-gaap Intangible Assets Net Excluding Goodwill
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CY2020Q1 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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CY2019Q1 us-gaap Restructuring Charges
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CY2020Q1 gt Segment Asset Write Offs And Accelerated Depreciation
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CY2019Q1 gt Segment Asset Write Offs And Accelerated Depreciation
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CY2019Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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CY2020Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
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CY2020Q1 us-gaap Short Term Borrowings
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CY2019Q4 us-gaap Short Term Borrowings
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CY2020Q1 us-gaap Long Term Debt And Capital Lease Obligations Current
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CY2019Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
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CY2020Q1 us-gaap Debt Current
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CY2019Q4 us-gaap Debt Current
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CY2020Q1 gt Long Term Debt Before Deferred Finance Costs
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CY2019Q4 gt Long Term Debt Before Deferred Finance Costs
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CY2019Q4 us-gaap Deferred Finance Costs Net
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CY2020Q1 us-gaap Long Term Debt
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CY2019Q4 us-gaap Long Term Debt
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CY2020Q1 us-gaap Finance Lease Liability
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CY2019Q4 us-gaap Finance Lease Liability
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CY2020Q1 us-gaap Debt And Capital Lease Obligations
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