GOODYEAR TIRE & RUBBER CO /OH/

For the period ended Jun 30, 2025. Filed Aug 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.

Jun 30, 2025 · Filed Aug 8, 2025

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

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

ITEM 1. FINANCIAL STATEMENTS

CONSOLIDATED STATEMENTS OF OPERATIONS

	Three Months EndedJune 30,		Six Months EndedJune 30,
(In millions, except per share amounts)	2025	2024	2025	2024
Net Sales (Note 3)	$4,465	$4,570	$8,718	$9,107
Cost of Goods Sold	3,705	3,627	7,218	7,349
Selling, Administrative and General Expense	692	731	1,342	1,427
Rationalizations (Note 4)	59	19	140	41
Interest Expense	112	130	227	256
Other (Income) Expense (Note 5)	31	26	56	59
Net (Gain) on Asset Sales (Note 2)	(439)	(96)	(701)	(94)
Income before Income Taxes	305	133	436	69
United States and Foreign Tax Expense (Note 6)	24	60	37	66
Net Income	281	73	399	3
Less: Minority Shareholders’ Net Income (Loss)	27	(6)	30	(7)
Goodyear Net Income	$254	$79	$369	$10
Goodyear Net Income — Per Share of Common Stock
Basic	$0.88	$0.28	$1.28	$0.04
Weighted Average Shares Outstanding (Note 7)	287	287	287	286
Diluted	$0.87	$0.28	$1.27	$0.04
Weighted Average Shares Outstanding (Note 7)	290	288	290	288

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

	Three Months EndedJune 30,		Six Months EndedJune 30,
(In millions)	2025	2024	2025	2024
Net Income	$281	$73	$399	$3
Other Comprehensive Income (Loss):
Foreign currency translation, net of tax of $4 and $6 in 2025 (($1) and ($3) in 2024)	(7)	(50)	12	(59)
Reclassification adjustment for amounts recognized in income, net of tax of $0 and $0 in 2025 ($0 and $0 in 2024)	(2)	—	8	—
Defined benefit plans:
Amortization of prior service cost and unrecognized gains and losses included in total benefit cost, net of tax of $7 and $13 in 2025 ($6 and $13 in 2024)	19	20	38	41
Change in net actuarial gains and losses, net of tax of $(1) and $2 in 2025 ($6 and $7 in 2024)	(2)	6	8	10
Immediate recognition of prior service cost and unrecognized gains and losses due to curtailments, settlements and divestitures, net of tax of $0 and $0 in 2025 ($0 and ($1) in 2024)	—	—	2	(4)
Deferred derivative gain:
Reclassification adjustment for amounts recognized in income, net of tax of $0 and $0 in 2025 ($0 and $0 in 2024)	—	—	—	1
Other Comprehensive Income (Loss)	8	(24)	68	(11)
Comprehensive Income (Loss)	289	49	467	(8)
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders	32	(7)	38	(11)
Goodyear Comprehensive Income	$257	$56	$429	$3

CONSOLIDATED BALANCE SHEETS

(In millions, except share data)	June 30,2025	December 31,2024
Assets:
Current Assets:
Cash and Cash Equivalents	$785	$810
Accounts Receivable, less Allowance — $97 ($84 in 2024)	3,016	2,482
Inventories:
Raw Materials	680	728
Work in Process	207	207
Finished Products	3,141	2,619
	4,028	3,554
Assets Held for Sale (Note 1)	544	466
Prepaid Expenses and Other Current Assets	512	277
Total Current Assets	8,885	7,589
Goodwill	716	756
Intangible Assets	677	805
Deferred Income Taxes (Note 6)	1,743	1,686
Other Assets	1,149	1,052
Operating Lease Right-of-Use Assets	1,087	951
Property, Plant and Equipment, less Accumulated Depreciation — $12,215 ($12,212 in 2024)	8,002	8,082
Total Assets	$22,259	$20,921
Liabilities:
Current Liabilities:
Accounts Payable — Trade	$4,010	$4,092
Compensation and Benefits (Notes 11 and 12)	606	606
Other Current Liabilities	1,599	1,089
Notes Payable and Overdrafts (Note 9)	499	558
Operating Lease Liabilities due Within One Year	209	200
Long Term Debt and Finance Leases due Within One Year (Note 9)	778	832
Total Current Liabilities	7,701	7,377
Operating Lease Liabilities	933	804
Long Term Debt and Finance Leases (Note 9)	6,559	6,392
Compensation and Benefits (Notes 11 and 12)	814	789
Deferred Income Taxes (Note 6)	108	108
Other Long Term Liabilities	850	628
Total Liabilities	16,965	16,098
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	3,164	3,159
Retained Earnings	5,450	5,081
Accumulated Other Comprehensive Loss (Note 15)	(3,784)	(3,844)
Goodyear Shareholders’ Equity	5,116	4,681
Minority Shareholders’ Equity — Nonredeemable	178	142
Total Shareholders’ Equity	5,294	4,823
Total Liabilities and Shareholders’ Equity	$22,259	$20,921

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY

Common Stock · CapitalSurplus · RetainedEarnings · AccumulatedOtherComprehensive Loss · GoodyearShareholders'Equity · MinorityShareholders'Equity — Non-Redeemable · TotalShareholders'Equity
(In millions, except share data) · Shares · Amount
(after deducting 39,313,644 common treasury shares)	284,974,263	$285	$3,159	$5,081	$(3,844)	$4,681	$142	$4,823
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	$5,196	$(3,787)	$4,855	$148	$5,003
Net income (loss)				254		254	27	281
Other comprehensive income (loss)					3	3	5	8
Total Comprehensive Income (Loss)						257	32	289
Stock-based compensation plans			5			5		5
Dividends declared							(2)	(2)
Common stock issued from treasury	365,245		(1)			(1)		(1)
(after deducting 38,273,938 common treasury shares)	286,013,969	$286	$3,164	$5,450	$(3,784)	$5,116	$178	$5,294

There wereno dividends declared or paid during the three and six months ended June 30, 2025.

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY

Common Stock · CapitalSurplus · RetainedEarnings · AccumulatedOtherComprehensive Loss · GoodyearShareholders'Equity · MinorityShareholders'Equity — Non-Redeemable · TotalShareholders'Equity
(In millions, except share data) · Shares · Amount
(after deducting 40,501,644 common treasury shares)	283,786,263	$284	$3,133	$5,035	$(3,835)	$4,617	$162	$4,779
Net income (loss)				(69)		(69)	(1)	(70)
Other comprehensive income (loss)					16	16	(3)	13
Total Comprehensive Income (Loss)						(53)	(4)	(57)
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	$4,966	$(3,819)	$4,572	$156	$4,728
Net income (loss)				79		79	(6)	73
Other comprehensive income (loss)					(23)	(23)	(1)	(24)
Total Comprehensive Income (Loss)						56	(7)	49
Stock-based compensation plans			6			6		6
Dividends declared							(5)	(5)
(after deducting 39,600,900 common treasury shares)	284,687,007	$285	$3,146	$5,045	$(3,842)	$4,634	$144	$4,778

There wereno dividends declared or paid during the three and six months ended June 30, 2024.

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Six Months EndedJune 30,
(In millions)	2025	2024
Cash Flows from Operating Activities:
Net Income	$399	$3
Adjustments to Reconcile Net Income to Cash Flows from Operating Activities:
Depreciation and Amortization	544	546
Amortization and Write-Off of Debt Issuance Costs	10	7
Provision for Deferred Income Taxes (Note 6)	(55)	(6)
Net Pension Curtailments and Settlements	4	(5)
Net Rationalization Charges (Note 4)	140	41
Rationalization Payments	(204)	(105)
Net Gains on Asset Sales (Note 5)	(701)	(94)
Loss (Gain) on Insurance Recoveries for Damaged Property, Plant and Equipment	—	(50)
Operating Lease Expense	159	164
Operating Lease Payments	(141)	(139)
Pension Contributions and Direct Payments	(53)	(29)
Changes in Operating Assets and Liabilities, Net of Asset Acquisitions and Dispositions:
Accounts Receivable	(498)	(354)
Inventories	(512)	(397)
Accounts Payable — Trade	(59)	(18)
Compensation and Benefits	2	6
Other Current Liabilities	312	(91)
Other Assets and Liabilities	(65)	3
Total Cash Flows used in Operating Activities	(718)	(518)
Cash Flows from Investing Activities:
Capital Expenditures	(466)	(634)
Insurance Recoveries for Damaged Property, Plant and Equipment	—	37
Cash Proceeds from Sale and Leaseback Transactions (Note 5)	—	16
Asset Dispositions	1,328	108
Long Term Securities Redeemed	—	1
Notes Receivable	1	(17)
Other Transactions	(26)	1
Total Cash Flows from (used in) Investing Activities	837	(488)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	557	595
Short Term Debt and Overdrafts Paid	(632)	(464)
Long Term Debt Incurred	8,888	7,068
Long Term Debt Paid	(8,925)	(6,280)
Common Stock Issued	(5)	(3)
Transactions with Minority Interests in Subsidiaries	(1)	(2)
Debt Related Costs and Other Transactions	11	(18)
Total Cash Flows (used in) from Financing Activities	(107)	896
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	26	(23)
Net Change in Cash, Cash Equivalents and Restricted Cash	38	(133)
Cash, Cash Equivalents and Restricted Cash at Beginning of the Period	864	985
Cash, Cash Equivalents and Restricted Cash at End of the Period	$902	$852

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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.