GOODYEAR TIRE & RUBBER CO /OH/

For the period ended Mar 31, 2025. Filed May 8, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed May 8, 2025

GT$4.18-4.1%Stored close · as of Nov 9, 2026

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Contents

ITEM 1. FINANCIAL STATEMENTS

CONSOLIDATED STATEM ENTS OF OPERATIONS

	Three Months Ended
	March 31,
(In millions, except per share amounts)	2025	2024
Net Sales (Note 3)	$4,253	$4,537
Cost of Goods Sold	3,513	3,715
Selling, Administrative and General Expense	650	696
Rationalizations (Note 4)	81	22
Interest Expense	115	126
Other (Income) Expense (Note 5)	25	28
Net (Gain) Loss on Asset Sales (Note 2)	(262)	2
Income (Loss) before Income Taxes	131	(52)
United States and Foreign Tax Expense (Note 6)	13	6
Net Income (Loss)	118	(58)
Less: Minority Shareholders’ Net Income (Loss)	3	(1)
Goodyear Net Income (Loss)	$115	$(57)
Goodyear Net Income (Loss) — Per Share of Common Stock
Basic	$0.40	$(0.20)
Weighted Average Shares Outstanding (Note 7)	287	286
Diluted	$0.40	$(0.20)
Weighted Average Shares Outstanding (Note 7)	289	286

CONSOLIDATED STATEMENTSOF COMPREHENSIVE INCOME

	Three Months Ended
	March 31,
(In millions)	2025	2024
Net Income (Loss)	$118	$(58)
Other Comprehensive Income (Loss):
Foreign currency translation, net of tax of $2 in 2025 (($2) in 2024)	19	(9)
Reclassification adjustment for amounts recognized in income, net of tax of $0 in 2025 ($0 in 2024)	10	—
Defined benefit plans:
Amortization of prior service cost and unrecognized gains and losses included in total benefit cost, net of tax of $6 in 2025 ($7 in 2024)	19	21
Change in net actuarial losses, net of tax of $3 in 2025 ($1 in 2024)	10	4
Immediate recognition of prior service cost and unrecognized gains and losses due to curtailments, settlements and divestitures, net of tax of $0 in 2025 (($1) in 2024)	2	(4)
Reclassification adjustment for amounts recognized in income, net of tax of $0 in 2025 ($0 in 2024)	—	1
Other Comprehensive Income (Loss)	60	13
Comprehensive Income (Loss)	178	(45)
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	6	(4)
Goodyear Comprehensive Income (Loss)	$172	$(41)

CONSOLIDATED BALANCE SHEETS

	March 31,	December 31,
(In millions, except share data)	2025	2024
Assets:
Current Assets:
Cash and Cash Equivalents	$902	$810
Accounts Receivable, less Allowance — $89 ($84 in 2024)	2,942	2,482
Inventories:
Raw Materials	796	755
Work in Process	231	213
Finished Products	2,921	2,629
	3,948	3,597
Assets Held for Sale (Note 1)	197	466
Prepaid Expenses and Other Current Assets	380	277
Total Current Assets	8,369	7,632
Goodwill	757	756
Intangible Assets	686	805
Deferred Income Taxes (Note 6)	1,715	1,686
Other Assets	1,112	1,052
Operating Lease Right-of-Use Assets	943	951
Property, Plant and Equipment, less Accumulated Depreciation — $12,485 ($12,212 in 2024)	8,129	8,082
Total Assets	$21,711	$20,964
Liabilities:
Current Liabilities:
Accounts Payable — Trade	$4,142	$4,052
Compensation and Benefits (Notes 11 and 12)	565	606
Other Current Liabilities	1,214	1,089
Notes Payable and Overdrafts (Note 9)	436	558
Operating Lease Liabilities due Within One Year	199	200
Long Term Debt and Finance Leases due Within One Year (Note 9)	300	832
Total Current Liabilities	6,856	7,337
Operating Lease Liabilities	799	804
Long Term Debt and Finance Leases (Note 9)	7,302	6,392
Compensation and Benefits (Notes 11 and 12)	781	789
Deferred Income Taxes (Note 6)	109	108
Other Long Term Liabilities	778	628
Total Liabilities	16,625	16,058
Commitments and Contingent Liabilities (Note 13)
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Common Stock, no par value:
Authorized, 450 million shares, Outstanding shares — 286 million in 2025 (285 million in 2024)	286	285
Capital Surplus	3,160	3,159
Retained Earnings	5,271	5,156
Accumulated Other Comprehensive Loss (Note 15)	(3,787)	(3,844)
Goodyear Shareholders’ Equity	4,930	4,756
Minority Shareholders’ Equity — Nonredeemable	156	150
Total Shareholders’ Equity	5,086	4,906
Total Liabilities and Shareholders’ Equity	$21,711	$20,964

CONSOLIDATED STATEMENTSOF SHAREHOLDERS’ EQUITY

Accumulated · Minority
Other · Goodyear · Shareholders' · Total
Common Stock · Capital · Retained · Comprehensive · Shareholders' · Equity — Non- · Shareholders'
(In millions, except share data) · Shares · Amount · Surplus · Earnings · Loss · Equity · Redeemable · Equity
(after deducting 39,313,644 common treasury shares)	284,974,263	$285		$3,159		$5,156		$(3,844)		$4,756		$150		$4,906
Net income (loss)					115			115			3		118
Other comprehensive income (loss)						57		57			3		60
Total Comprehensive Income (Loss)							172			6		178
Stock-based compensation plans			6					6				6
Common stock issued from treasury	674,461	1		(5)					(4)			(4)
(after deducting 38,639,183 common treasury shares)	285,648,724	$286		$3,160		$5,271		$(3,787)		$4,930		$156		$5,086

Accumulated · Minority
Other · Goodyear · Shareholders' · Total
Common Stock · Capital · Retained · Comprehensive · Shareholders' · Equity — Non- · Shareholders'
(In millions, except share data) · Shares · Amount · Surplus · Earnings · Loss · Equity · Redeemable · Equity
(after deducting 40,501,644 common treasury shares)	283,786,263	$284		$3,133		$5,086		$(3,835)			$4,668			$169	$4,837
Net income (loss)					(57)		(57)			(1)			(58)
Other comprehensive income (loss)						16		16				(3)		13
Total Comprehensive Income (Loss)							(41)			(4)			(45)
Stock-based compensation plans			11					11						11
Dividends declared										(2)			(2)
Common stock issued from treasury	900,744	1		(4)					(3)					(3)
(after deducting 39,600,900 common treasury shares)	284,687,007	$285		$3,140		$5,029		$(3,819)			$4,635			$163	$4,798

There wereno dividends declared or paid during the three months ended March 31, 2025 and 2024.

CONSOLIDATED STATEM ENTS OF CASH FLOWS

	Three Months Ended
	March 31,
(In millions)	2025	2024
Cash Flows from Operating Activities:
Net Income (Loss)	$118	$(58)
Adjustments to Reconcile Net Income (Loss) to Cash Flows from Operating Activities:
Depreciation and Amortization	270	284
Amortization and Write-Off of Debt Issuance Costs	6	3
Provision for Deferred Income Taxes (Note 6)	(31)	(42)
Net Pension Curtailments and Settlements	4	(5)
Net Rationalization Charges (Note 4)	81	22
Rationalization Payments	(65)	(55)
Net (Gains) Losses on Asset Sales (Note 2)	(262)	2
Operating Lease Expense	78	85
Operating Lease Payments	(71)	(69)
Pension Contributions and Direct Payments	(41)	(16)
Changes in Operating Assets and Liabilities, Net of Asset Acquisitions and Dispositions:
Accounts Receivable	(431)	(325)
Inventories	(365)	(167)
Accounts Payable — Trade	46	(47)
Compensation and Benefits	(28)	(38)
Other Current Liabilities	95	(45)
Other Assets and Liabilities	58	20
Total Cash Flows from Operating Activities	(538)	(451)
Cash Flows from Investing Activities:
Capital Expenditures	(259)	(318)
Asset Dispositions	720	108
Notes Receivable	(7)	(21)
Other Transactions	(22)	—
Total Cash Flows from Investing Activities	432	(231)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	409	282
Short Term Debt and Overdrafts Paid	(535)	(230)
Long Term Debt Incurred	5,951	3,964
Long Term Debt Paid	(5,627)	(3,332)
Common Stock Issued	(4)	(3)
Transactions with Minority Interests in Subsidiaries	—	(2)
Debt Related Costs and Other Transactions	17	(18)
Total Cash Flows from Financing Activities	211	661
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	9	(10)
Net Change in Cash, Cash Equivalents and Restricted Cash	114	(31)
Cash, Cash Equivalents and Restricted Cash at Beginning of the Period	864	985
Cash, Cash Equivalents and Restricted Cash at End of the Period	$978	$954

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.