$GT
GOODYEAR TIRE & RUBBER CO /OH/

2021 Q1 Form 10-Q Financial Statement

#000156459021022280 Filed on April 30, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $3.511B $3.056B
YoY Change 14.89% -15.06%
Cost Of Revenue $2.751B $2.552B
YoY Change 7.8% -11.36%
Gross Profit $760.0M $504.0M
YoY Change 50.79% -29.9%
Gross Profit Margin 21.65% 16.49%
Selling, General & Admin $564.0M $581.0M
YoY Change -2.93% 6.22%
% of Gross Profit 74.21% 115.28%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $197.0M $196.0M
YoY Change 0.51% 1.55%
% of Gross Profit 25.92% 38.89%
Operating Expenses $564.0M $581.0M
YoY Change -2.93% 6.22%
Operating Profit $196.0M -$77.00M
YoY Change -354.55% -144.77%
Interest Expense $79.00M $73.00M
YoY Change 8.22% -14.12%
% of Operating Profit 40.31%
Other Income/Expense, Net -$34.00M -$27.00M
YoY Change 25.93% 22.73%
Pretax Income $33.00M -$368.0M
YoY Change -108.97% 868.42%
Income Tax $15.00M $249.0M
% Of Pretax Income 45.45%
Net Earnings $12.00M -$619.0M
YoY Change -101.94% 914.75%
Net Earnings / Revenue 0.34% -20.26%
Basic Earnings Per Share $0.05 -$2.65
Diluted Earnings Per Share $0.05 -$2.65
COMMON SHARES
Basic Shares Outstanding 235.0M 234.0M
Diluted Shares Outstanding 238.0M 234.0M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.223B $971.0M
YoY Change 25.95% 12.91%
Cash & Equivalents $1.223B $971.0M
Short-Term Investments
Other Short-Term Assets $247.0M $308.0M
YoY Change -19.81% 10.79%
Inventory $2.359B $2.919B
Prepaid Expenses
Receivables $2.119B $2.025B
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.948B $6.173B
YoY Change -3.64% -4.91%
LONG-TERM ASSETS
Property, Plant & Equipment $7.683B $7.812B
YoY Change -1.65% 7.86%
Goodwill $369.0M
YoY Change -34.46%
Intangibles $135.0M
YoY Change -0.74%
Long-Term Investments
YoY Change
Other Assets $2.409B $941.0M
YoY Change 156.0% -18.88%
Total Long-Term Assets $10.62B $10.52B
YoY Change 0.98% -10.72%
TOTAL ASSETS
Total Short-Term Assets $5.948B $6.173B
Total Long-Term Assets $10.62B $10.52B
Total Assets $16.57B $16.69B
YoY Change -0.73% -8.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.037B $2.645B
YoY Change 14.82% -3.36%
Accrued Expenses $737.0M $661.0M
YoY Change 11.5% -4.89%
Deferred Revenue $23.00M $24.00M
YoY Change -4.17% -35.14%
Short-Term Debt $390.0M $691.0M
YoY Change -43.56% 39.6%
Long-Term Debt Due $386.0M $621.0M
YoY Change -37.84% 33.26%
Total Short-Term Liabilities $5.333B $5.266B
YoY Change 1.27% 3.52%
LONG-TERM LIABILITIES
Long-Term Debt $5.326B $5.212B
YoY Change 2.19% -6.01%
Other Long-Term Liabilities $2.538B $483.0M
YoY Change 425.47% 3.87%
Total Long-Term Liabilities $7.864B $483.0M
YoY Change 1528.16% 3.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.333B $5.266B
Total Long-Term Liabilities $7.864B $483.0M
Total Liabilities $13.46B $12.99B
YoY Change 3.61% -1.87%
SHAREHOLDERS EQUITY
Retained Earnings $5.444B
YoY Change -17.19%
Common Stock $2.146B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares $43.48M $45.47M
Shareholders Equity $3.106B $3.510B
YoY Change
Total Liabilities & Shareholders Equity $16.57B $16.69B
YoY Change -0.73% -8.66%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $12.00M -$619.0M
YoY Change -101.94% 914.75%
Depreciation, Depletion And Amortization $197.0M $196.0M
YoY Change 0.51% 1.55%
Cash From Operating Activities -$282.0M -$561.0M
YoY Change -49.73% 54.12%
INVESTING ACTIVITIES
Capital Expenditures $185.0M $211.0M
YoY Change -12.32% -4.52%
Acquisitions
YoY Change
Other Investing Activities -$3.000M $9.000M
YoY Change -133.33% -43.75%
Cash From Investing Activities -$180.0M -$257.0M
YoY Change -29.96% 5.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $9.000M
YoY Change
Debt Paid & Issued, Net $514.0M $1.600B
YoY Change -67.88% 30.83%
Cash From Financing Activities 144.0M 939.0M
YoY Change -84.66% 45.58%
NET CHANGE
Cash From Operating Activities -282.0M -561.0M
Cash From Investing Activities -180.0M -257.0M
Cash From Financing Activities 144.0M 939.0M
Net Change In Cash -352.0M 62.00M
YoY Change -667.74% 67.57%
FREE CASH FLOW
Cash From Operating Activities -$282.0M -$561.0M
Capital Expenditures $185.0M $211.0M
Free Cash Flow -$467.0M -$772.0M
YoY Change -39.51% 31.97%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q1 us-gaap Change In Accounting Principle Accounting Standards Update Adopted
ChangeInAccountingPrincipleAccountingStandardsUpdateAdopted
true
CY2021Q1 us-gaap Change In Accounting Principle Accounting Standards Update Immaterial Effect
ChangeInAccountingPrincipleAccountingStandardsUpdateImmaterialEffect
true
CY2021Q1 us-gaap Accounting Standards Update Extensible List
AccountingStandardsUpdateExtensibleList
us-gaap:AccountingStandardsUpdate201601Member
CY2021Q1 us-gaap Change In Accounting Principle Accounting Standards Update Adoption Date
ChangeInAccountingPrincipleAccountingStandardsUpdateAdoptionDate
2021-01-31
CY2020Q1 us-gaap Accounting Standards Update Extensible List
AccountingStandardsUpdateExtensibleList
us-gaap:AccountingStandardsUpdate201409Member
CY2021Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
6857000000
CY2020Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
7073000000
CY2020Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
45243329
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-4000000
CY2021Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
14000000
CY2021Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
4000000
CY2021Q1 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
9000000
CY2021Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
43483398
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3286000000
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
66000000
CY2021Q1 us-gaap Profit Loss
ProfitLoss
18000000
CY2019Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
45813109
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4545000000
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-617000000
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-186000000
CY2020Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-803000000
CY2020Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
7000000
CY2020Q1 us-gaap Dividends Cash
DividendsCash
38000000
CY2020Q1 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
-2000000
CY2020Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
45465877
CY2021Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.00
CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.16
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-617000000
CY2021Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
197000000
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
196000000
CY2021Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
3000000
CY2020Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
2000000
CY2021Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2020Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
182000000
CY2021Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-18000000
CY2020Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
235000000
CY2021Q1 gt Defined Benefit Plan Curtailments And Settlements
DefinedBenefitPlanCurtailmentsAndSettlements
0
CY2020Q1 gt Defined Benefit Plan Curtailments And Settlements
DefinedBenefitPlanCurtailmentsAndSettlements
2000000
CY2021Q1 us-gaap Restructuring Charges
RestructuringCharges
50000000
CY2020Q1 us-gaap Restructuring Charges
RestructuringCharges
9000000
CY2021Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
83000000
CY2020Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
73000000
CY2021Q1 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
0
CY2020Q1 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
1000000
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
70000000
CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
69000000
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
67000000
CY2021Q1 gt Pension Contributions And Direct Payments
PensionContributionsAndDirectPayments
9000000
CY2020Q1 gt Pension Contributions And Direct Payments
PensionContributionsAndDirectPayments
19000000
CY2021Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
526000000
CY2020Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
206000000
CY2021Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
258000000
CY2020Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
170000000
CY2021Q1 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
221000000
CY2020Q1 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-106000000
CY2021Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
19000000
CY2020Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-57000000
CY2021Q1 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-4000000
CY2020Q1 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-30000000
CY2021Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-105000000
CY2020Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-89000000
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-282000000
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-561000000
CY2021Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
185000000
CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
211000000
CY2020Q1 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
239000000
CY2021Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
694000000
CY2021Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
29000000
CY2020Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
6000000
CY2021Q1 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
41000000
CY2020Q1 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
4000000
CY2021Q1 us-gaap Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
10000000
CY2020Q1 us-gaap Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
35000000
CY2021Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-3000000
CY2020Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
9000000
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-180000000
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-257000000
CY2021Q1 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
280000000
CY2020Q1 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
629000000
CY2021Q1 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
285000000
CY2020Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
2188000000
CY2021Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
514000000
CY2020Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1600000000
CY2021Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
9000000
CY2020Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
0
CY2021Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
0
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
37000000
CY2021Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-40000000
CY2020Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-2000000
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
144000000
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
939000000
CY2021Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-34000000
CY2020Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-59000000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-352000000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
62000000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1624000000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
974000000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1272000000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1036000000
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3511000000
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3056000000
CY2020Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
23000000
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1223000000
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
971000000
CY2021Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
49000000
CY2020Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
65000000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1272000000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1036000000
CY2021Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;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. Additionally, in the first quarter of 2021, we recorded out of period adjustments totaling $20 million of expense, primarily related to the valuation of inventory in Americas. The adjustments relate to the years, and interim periods therein, of 2016 to 2020, with the majority attributable to 2019 and 2020. The adjustments did not have a material effect on any of the periods impacted.</p>
CY2021Q1 gt Expense Related To Valuation Of Inventory
ExpenseRelatedToValuationOfInventory
20000000
CY2021Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
23000000
CY2021Q1 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
25000000
CY2020Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
27000000
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
50000000
CY2021Q1 gt Contractwith Customer Liability Revenue Deferred During Period
ContractwithCustomerLiabilityRevenueDeferredDuringPeriod
35000000
CY2021Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-37000000
CY2021Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
48000000
CY2020Q4 us-gaap Restructuring Reserve
RestructuringReserve
200000000
CY2021Q1 gt Restructuring Charges Excluding Reversals And Pension Gains
RestructuringChargesExcludingReversalsAndPensionGains
50000000
CY2021Q1 gt Restructuring Reserve Settled With Cash And Non Cash Considerations
RestructuringReserveSettledWithCashAndNonCashConsiderations
89000000
CY2021Q1 us-gaap Restructuring Reserve
RestructuringReserve
161000000
CY2021Q1 us-gaap Restructuring Charges
RestructuringCharges
50000000
CY2020Q1 us-gaap Restructuring Charges
RestructuringCharges
9000000
CY2020Q1 us-gaap Restructuring Reserve Accelerated Depreciation
RestructuringReserveAcceleratedDepreciation
4000000
CY2020Q4 us-gaap Restructuring And Related Cost Cost Incurred To Date1
RestructuringAndRelatedCostCostIncurredToDate1
740000000
CY2021Q1 us-gaap Restructuring And Related Cost Expected Cost Remaining1
RestructuringAndRelatedCostExpectedCostRemaining1
70000000
CY2021Q1 us-gaap Restructuring And Related Cost Expected Number Of Positions Eliminated
RestructuringAndRelatedCostExpectedNumberOfPositionsEliminated
400
CY2021Q1 gt Defined Benefit Plan Non Service Cost
DefinedBenefitPlanNonServiceCost
17000000
CY2020Q1 gt Defined Benefit Plan Non Service Cost
DefinedBenefitPlanNonServiceCost
26000000
CY2021Q1 gt Charges Related To Financing Fees And Financial Instruments
ChargesRelatedToFinancingFeesAndFinancialInstruments
7000000
CY2020Q1 gt Charges Related To Financing Fees And Financial Instruments
ChargesRelatedToFinancingFeesAndFinancialInstruments
7000000
CY2021Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-11000000
CY2020Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
1000000
CY2021Q1 gt General And Product Liability Discontinued Products Gains Losses
GeneralAndProductLiabilityDiscontinuedProductsGainsLosses
1000000
CY2020Q1 gt General And Product Liability Discontinued Products Gains Losses
GeneralAndProductLiabilityDiscontinuedProductsGainsLosses
2000000
CY2021Q1 us-gaap Royalty Income Nonoperating
RoyaltyIncomeNonoperating
5000000
CY2020Q1 us-gaap Royalty Income Nonoperating
RoyaltyIncomeNonoperating
5000000
CY2020Q1 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
1000000
CY2021Q1 us-gaap Interest Income Other
InterestIncomeOther
5000000
CY2020Q1 us-gaap Interest Income Other
InterestIncomeOther
3000000
CY2021Q1 us-gaap Business Combination Separately Recognized Transactions Additional Disclosures Acquisition Cost Expensed
BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed
8000000
CY2020Q1 gt Miscellaneous Other Income Expense
MiscellaneousOtherIncomeExpense
2000000
CY2021Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-34000000
CY2020Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-27000000
CY2021Q1 gt Net Foreign Currency Exchange Gains Losses Include Expense Related To Out Of Period Adjustments
NetForeignCurrencyExchangeGainsLossesIncludeExpenseRelatedToOutOfPeriodAdjustments
7000000
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
15000000
CY2020Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
182000000
CY2021Q1 gt Corporate Incentive Compensation Plans
CorporateIncentiveCompensationPlans
9000000
CY2020Q1 gt Corporate Incentive Compensation Plans
CorporateIncentiveCompensationPlans
3000000
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
33000000
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-368000000
CY2021Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
33000000
CY2021Q1 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
3000000
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
249000000
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-368000000
CY2020Q1 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
290000000
CY2021Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2020Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2020Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
182000000
CY2021Q1 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
140000000
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
133000000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
12000000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-619000000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
235000000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
234000000
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.05
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.65
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
12000000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-619000000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
235000000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
234000000
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3000000
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
238000000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
234000000
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.05
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.65
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3511000000
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3056000000
CY2021Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2020Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
182000000
CY2021Q1 us-gaap Restructuring Charges
RestructuringCharges
50000000
CY2020Q1 us-gaap Restructuring Charges
RestructuringCharges
9000000
CY2021Q1 gt Segment Asset Write Offs And Accelerated Depreciation
SegmentAssetWriteOffsAndAcceleratedDepreciation
0
CY2020Q1 gt Segment Asset Write Offs And Accelerated Depreciation
SegmentAssetWriteOffsAndAcceleratedDepreciation
4000000
CY2021Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
9318000000
CY2021Q1 us-gaap Debt Instrument Unused Borrowing Capacity Amount
DebtInstrumentUnusedBorrowingCapacityAmount
3396000000
CY2021Q1 us-gaap Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
0.25
CY2021Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
390000000
CY2020Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
406000000
CY2021Q1 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
386000000
CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
152000000
CY2021Q1 us-gaap Debt Current
DebtCurrent
776000000
CY2020Q4 us-gaap Debt Current
DebtCurrent
558000000
CY2021Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
5497000000
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
5366000000
CY2021Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
31000000
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
32000000
CY2021Q1 us-gaap Long Term Debt
LongTermDebt
5466000000
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
5334000000
CY2021Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
246000000
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
250000000
CY2021Q1 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
5712000000
CY2020Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
5584000000
CY2021Q1 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
386000000
CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
152000000
CY2021Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
5326000000
CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
5432000000
CY2021Q1 us-gaap Notes Payable
NotesPayable
3846000000
CY2020Q4 us-gaap Notes Payable
NotesPayable
3860000000
CY2021Q1 us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
2000000
CY2021Q1 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
10000000
CY2020Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
11000000
CY2021Q1 us-gaap Foreign Currency Contract Asset Fair Value Disclosure
ForeignCurrencyContractAssetFairValueDisclosure
40000000
CY2021Q1 us-gaap Other Postretirement Benefit Expense
OtherPostretirementBenefitExpense
2000000
CY2020Q1 us-gaap Other Postretirement Benefit Expense
OtherPostretirementBenefitExpense
-3000000
CY2021Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
28000000
CY2020Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
30000000
CY2020Q4 us-gaap Foreign Currency Contract Asset Fair Value Disclosure
ForeignCurrencyContractAssetFairValueDisclosure
1000000
CY2021Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
50000000
CY2020Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
12000000
CY2021Q1 us-gaap Foreign Currency Contracts Liability Fair Value Disclosure
ForeignCurrencyContractsLiabilityFairValueDisclosure
5000000
CY2020Q4 us-gaap Foreign Currency Contracts Liability Fair Value Disclosure
ForeignCurrencyContractsLiabilityFairValueDisclosure
34000000
CY2021Q1 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
5000000
CY2020Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
34000000
CY2021Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
390000000
CY2020Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
406000000
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4000000
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6000000
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
29000000
CY2021Q1 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
66000000
CY2020Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
64000000
CY2021Q1 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
17000000
CY2020Q4 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
16000000
CY2021Q1 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
198000000
CY2020Q4 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
196000000
CY2021Q1 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
27000000
CY2020Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
29000000
CY2021Q1 gt Off Balance Sheet Financial Guarantees Written And Other Commitments
OffBalanceSheetFinancialGuaranteesWrittenAndOtherCommitments
69000000
CY2020Q4 gt Off Balance Sheet Financial Guarantees Written And Other Commitments
OffBalanceSheetFinancialGuaranteesWrittenAndOtherCommitments
73000000
CY2020Q1 us-gaap Dividends Share Based Compensation Cash
DividendsShareBasedCompensationCash
1000000
CY2021Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
6000000
CY2020Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2000000
CY2021Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
-7000000
CY2020Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
-9000000
CY2021Q1 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-1000000
CY2020Q1 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-7000000
CY2021Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2020Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21

Files In Submission

Name View Source Status
0001564590-21-022280-index-headers.html Edgar Link pending
0001564590-21-022280-index.html Edgar Link pending
0001564590-21-022280.txt Edgar Link pending
0001564590-21-022280-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
gt-10q_20210331.htm Edgar Link pending
gt-10q_20210331_htm.xml Edgar Link completed
gt-20210331.xsd Edgar Link pending
gt-20210331_cal.xml Edgar Link unprocessable
gt-20210331_def.xml Edgar Link unprocessable
gt-20210331_lab.xml Edgar Link unprocessable
gt-20210331_pre.xml Edgar Link unprocessable
gt-ex221_9.htm Edgar Link pending
gt-ex311_8.htm Edgar Link pending
gt-ex312_6.htm Edgar Link pending
gt-ex321_7.htm Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R65.htm Edgar Link pending
R66.htm Edgar Link pending
R67.htm Edgar Link pending
R68.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending