GOODYEAR TIRE RUBBER CO OH
For the period ended Mar 31, 2024. Filed May 7, 2024.
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Mar 31, 2024 · Filed May 7, 2024
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ITEM 1. LEGAL PROCEEDINGS
Asbestos Litigation
As reported in our Form 10-K for the year ended December 31, 2023, we were one of numerous defendants in legal proceedings in certain state and federal courts involving approximately 35,800 claimants relating to their alleged exposure to materials containing asbestos in products allegedly manufactured by us or asbestos materials present in our facilities. During the first three months of 2024, approximately 250 claims were filed against us and approximately 200 were settled or dismissed. The amounts expended on asbestos defense and claim resolution by us and our insurers during the first three months of 2024 was $3 million. At March 31, 2024, there were approximately 35,850 asbestos claims pending against us. The plaintiffs are seeking unspecified actual and punitive damages and other relief. Refer to Note to the Consolidated Financial Statements No. 12, Commitments and Contingent Liabilities, for additional information on asbestos litigation.
Reference is made to Item 3 of Part I of our 2023 Form 10-K for additional discussion of legal proceedings.
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