{"id":485108,"date":"2021-04-30T07:48:19","date_gmt":"2021-04-30T11:48:19","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/goodyear-reports-first-quarter-2021-results\/"},"modified":"2021-04-30T07:48:19","modified_gmt":"2021-04-30T11:48:19","slug":"goodyear-reports-first-quarter-2021-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/goodyear-reports-first-quarter-2021-results\/","title":{"rendered":"Goodyear Reports First Quarter 2021 Results"},"content":{"rendered":"
\n

First quarter Goodyear net income of $12 million; adjusted net income of $102 million<\/h2>\n

First quarter segment operating income of $226 million, strongest first quarter since 2018<\/h2>\n

Global consumer replacement volume significantly exceeded industry, driven by large-rim diameter segment<\/h2>\n

— Record first quarter consumer replacement volume in Asia Pacific<\/h2>\n

Americas, EMEA consumer OE volumes outpaced market<\/h2>\n

First quarter revenue per tire up 3%, excluding foreign currency<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n AKRON, Ohio<\/span>, April 30, 2021<\/span> \/PRNewswire\/ —\u00a0The Goodyear Tire & Rubber Company\u00a0(NASDAQ: GT) today reported results for the first quarter of 2021.<\/p>\n

\n

\n
\n \"The
\n <\/a>\n <\/p>\n<\/p><\/div>\n

“We delivered impressive segment operating income, which was significantly above first quarter 2020 results and also nearly 20 percent higher than first quarter 2019 despite sales volumes not yet having fully recovered to pre-COVID levels,” said Richard J. Kramer<\/span>, chairman, chief executive officer and president. \u00a0“We achieved these results despite the impact of a severe winter storm in the U.S. and industry supply chain challenges during the quarter.<\/p>\n

“Our consumer replacement business delivered outstanding results. By leveraging improved distribution and new products, we outperformed the industry while expanding margins. At the same time, we also continued to build our OE business, where we are benefiting from our leading technical capabilities and emerging mobility trends,” continued Kramer. <\/p>\n

“I’d like to acknowledge and thank all of our associates for continuing to manage through personal and professional challenges to deliver for our customers and communities,” added Kramer.<\/p>\n

Goodyear’s first quarter 2021 sales were $3.5 billion<\/span>, up 15% from a year ago. The increase was driven by higher volume, improvements in price\/mix and favorable foreign currency translation. <\/p>\n

Tire unit volumes totaled 35.0 million, up 12% from the prior year’s period. The impact of the COVID-19 pandemic on industry demand moderated relative to the prior year. Replacement tire volume increased 14%, reflecting both continuing industry recovery and market share gains. Original equipment unit volume increased 5%, driven by higher vehicle production in Asia Pacific<\/span> and increased market share in EMEA.<\/p>\n

Goodyear’s first quarter 2021 net income was $12\u00a0million (5 cents<\/span> per share) compared to a net loss of $619 million<\/span> ($2.65<\/span> per share) a year ago. The 2021 period included several significant items, including, on a pre-tax basis, rationalization charges of $50 million<\/span> primarily associated with a plan to reduce selling, administrative and general expense in EMEA and the modernization of two manufacturing facilities in Germany<\/span>, and a negative impact of $23 million<\/span> related to a severe winter storm in the U.S. Goodyear’s first quarter 2020 net loss included a charge of $295 million<\/span> related to a valuation allowance on certain deferred tax assets for foreign tax credits and, on a pre-tax basis, a non-cash impairment charge of $182 million<\/span> to reduce the carrying value of goodwill in its EMEA business unit.<\/p>\n

First quarter 2021 adjusted net income was $102 million<\/span> (43 cents<\/span> per share) compared to an adjusted net loss of $140 million<\/span> (60 cents<\/span> per share) in 2020. Per share amounts are diluted.<\/p>\n

The company reported segment operating income of $226 million<\/span> in the first quarter of 2021, up $273 million<\/span> from a year ago. The increase primarily reflects the impacts of higher volume, including increased factory utilization, improvements in price\/mix, the benefits of cost saving actions, including ongoing rationalization plans, and lower raw material costs. <\/p>\n

\n
\n Reconciliation of Non-GAAP Financial Measures<\/u>
\n <\/b>\n <\/p>\n

See the note at the end of this release for further explanation and reconciliation tables for Segment Operating Income (Loss) and Margin; Adjusted Net Income (Loss); and Adjusted Diluted Earnings (Loss) per Share, reflecting the impact of certain significant items on the 2021 and 2020 periods.<\/p>\n

\n
\n Business Segment Results <\/u>
\n <\/b>\n <\/p>\n

\n Americas<\/b>\n <\/p>\n

\n\n\n\n\n\n\n\n
\n \n <\/td>\n\n

\n
\n First Quarter<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n (in millions)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2021<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2020<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Tire Units<\/span>\n <\/p>\n<\/td>\n

\n

\n 15.5<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 14.5<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net Sales<\/span>\n <\/p>\n<\/td>\n

\n

\n $1,787<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $1,673<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Segment Operating Income <\/span>\n <\/p>\n<\/td>\n

\n

\n 114<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Segment Operating Margin<\/span>\n <\/p>\n<\/td>\n

\n

\n 6.4%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

Americas’ first quarter 2021 sales of $1.8 billion<\/span> were 7% higher than in 2020, driven by higher volume and improvements in price\/mix. These factors were partially offset by unfavorable foreign currency translation. Tire unit volume increased 7%. Replacement tire volume increased 11%, reflecting stronger industry demand and U.S. consumer and commercial replacement market share gains. Original equipment unit volume decreased 6%, reflecting lower industry demand, partially offset by consumer share gains in Latin America<\/span>.<\/p>\n

First quarter 2021 segment operating income was $114 million<\/span> compared to breakeven in the prior year’s quarter. The increase was driven by improvements in price\/mix, the impacts of higher volume, including increased factory utilization, and the benefits of cost saving actions, including ongoing rationalization plans. These factors were partially offset by higher raw material costs.\u00a0 We estimate a severe winter storm in the U.S. negatively impacted segment operating income by approximately $17 million<\/span>. <\/p>\n

\n
\n Europe<\/span>, Middle East<\/span> and<\/b>
\n \u00a0Africa<\/b>\n <\/p>\n

\n\n\n\n\n\n\n\n
\n \n <\/td>\n\n

\n
\n First Quarter<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n (in millions)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2021<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2020<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Tire Units<\/span>\n <\/p>\n<\/td>\n

\n

\n 12.7<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 11.6<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net Sales<\/span>\n <\/p>\n<\/td>\n

\n

\n $1,231<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $995<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Segment Operating Income (Loss) <\/span>\n <\/p>\n<\/td>\n

\n

\n 74<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (53)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Segment Operating Margin<\/span>\n <\/p>\n<\/td>\n

\n

\n 6.0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (5.3)%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n Europe<\/span>, Middle East<\/span> and Africa’s<\/span> first quarter 2021 sales increased 24% from last year to $1.2 billion<\/span> due to higher volume, improvements in price\/mix and favorable foreign currency translation. Tire unit volume increased 10%. Replacement tire volume rose 11%, reflecting stronger industry demand and consumer and commercial replacement market share gains. Original equipment unit volume increased 6%, reflecting significant share gains driven by new consumer fitments and the addition of new fleet customers.<\/p>\n

First quarter 2021 segment operating income of $74 million<\/span> was up $127 million<\/span> from the prior year’s quarter, driven by the impacts of higher volume, including increased factory utilization, improvements in price\/mix and lower raw material costs. <\/p>\n

\n
\n Asia Pacific<\/span>
\n <\/b>\n <\/p>\n

\n\n\n\n\n\n\n\n
\n \n <\/td>\n\n

\n
\n First Quarter<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n (in millions)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2021<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2020<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Tire Units<\/span>\n <\/p>\n<\/td>\n

\n

\n 6.8<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5.2<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net Sales<\/span>\n <\/p>\n<\/td>\n

\n

\n $493<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $388<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Segment Operating Income <\/span>\n <\/p>\n<\/td>\n

\n

\n 38<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 6<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Segment Operating Margin<\/span>\n <\/p>\n<\/td>\n

\n

\n 7.7%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1.5%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n Asia Pacific’s<\/span> first quarter 2021 sales increased 27% to $493 million<\/span>, driven by higher volume and favorable foreign currency translation. Tire unit volume increased 29%. Replacement tire volume increased 31%, reflecting a record first quarter performance. Original equipment unit volume increased 26%, driven by a recovery in vehicle production in China<\/span>.<\/p>\n

First quarter 2021 segment operating income of $38 million<\/span> was up $32 million<\/span> from the prior year’s quarter. The increase was driven by the impacts of higher volume, including improved factory utilization. <\/p>\n

\n
\n Conference Call<\/u>
\n <\/b>\n <\/p>\n

Goodyear will hold an investor conference call at 9 a.m. EDT<\/span> today. Prior to the commencement of the call, the company will post the financial and other related information that will be presented on its investor relations website: http:\/\/investor.goodyear.com<\/a>.<\/p>\n

Participating in the conference call will be Richard J. Kramer<\/span>, chairman, chief executive officer and president; Darren R. Wells<\/span>, executive vice president and chief financial officer; and Christina L. Zamarro<\/span>, vice president, finance and treasurer. <\/p>\n

Investors, members of the media and other interested persons can access the conference call on the website or via telephone by calling either (800) 895-3361 or (785) 424-1062 before 8:55 a.m. EDT<\/span> and providing the Conference ID “Goodyear.” A taped replay will be available by calling (800) 839-6964 or (402) 220-6060. The replay will also remain available on the website.<\/p>\n

\n
\n About Goodyear<\/u>
\n <\/b>\n <\/p>\n

Goodyear is one of the world’s largest tire companies. It employs about 62,000 people and manufactures its products in 46 facilities in 21 countries around the world. Its two Innovation Centers in Akron, Ohio<\/span>, and Colmar-Berg, Luxembourg<\/span>, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com\/corporate<\/a>. GT-FN<\/p>\n

\n Certain information contained in this press release constitutes forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. There are a variety of factors, many of which are beyond our control, that affect our operations, performance, business strategy and results and could cause our actual results and experience to differ materially from the assumptions, expectations and objectives expressed in any forward-looking statements. These factors include, but are not limited to: the impact on us of the COVID-19 pandemic; our success in completing our pending acquisition of Cooper Tire & Rubber Company and our ability to achieve the expected benefits of such acquisition; our ability to implement successfully our strategic initiatives; actions and initiatives taken by both current and potential competitors; increases in the prices paid for raw materials and energy; a labor strike, work stoppage or other similar event; foreign currency translation and transaction risks; deteriorating economic conditions or an inability to access capital markets; work stoppages, financial difficulties or supply disruptions at our suppliers or customers; the adequacy of our capital expenditures; our failure to comply with a material covenant in our debt obligations; potential adverse consequences of litigation involving the company; as well as the effects of more general factors such as changes in general market, economic or political conditions or in legislation, regulation or public policy. Additional factors are discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. In addition, any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change.<\/i>\n <\/p>\n

(financial statements follow)<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n The Goodyear Tire & Rubber Company and Subsidiaries<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Consolidated Statements of Operations (unaudited)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n
\n Three Months Ended<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n March 31,<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n (In millions, except per share amounts)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n
\n 2021<\/b>
\n <\/u>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n
\n 2020<\/b>
\n <\/u>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n NET SALES<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 \u00a0 \u00a03,511<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 \u00a0 3,056<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Cost of Goods Sold<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,751<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,552<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Selling, Administrative and General Expense<\/span>\n <\/p>\n<\/td>\n

\n

\n 564<\/span>\n <\/p>\n<\/td>\n

\n

\n 581<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Goodwill Impairment<\/span>\n <\/p>\n<\/td>\n

\n

\n —<\/span>\n <\/p>\n<\/td>\n

\n

\n 182<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Rationalizations <\/span>\n <\/p>\n<\/td>\n

\n

\n 50<\/span>\n <\/p>\n<\/td>\n

\n

\n 9<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Interest Expense<\/span>\n <\/p>\n<\/td>\n

\n

\n 79<\/span>\n <\/p>\n<\/td>\n

\n

\n 73<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other (Income) Expense <\/span>\n <\/p>\n<\/td>\n

\n

\n 34<\/span>\n <\/p>\n<\/td>\n

\n

\n 27<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Income (Loss) before Income Taxes<\/span>\n <\/p>\n<\/td>\n

\n

\n 33<\/span>\n <\/p>\n<\/td>\n

\n

\n (368)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n United States and Foreign Tax Expense <\/span>\n <\/p>\n<\/td>\n

\n

\n 15<\/span>\n <\/p>\n<\/td>\n

\n

\n 249<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Net Income (Loss)<\/span>\n <\/p>\n<\/td>\n

\n

\n 18<\/span>\n <\/p>\n<\/td>\n

\n

\n (617)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Less:\u00a0 Minority Shareholders’ Net Income <\/span>\n <\/p>\n<\/td>\n

\n

\n 6<\/span>\n <\/p>\n<\/td>\n

\n

\n 2<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Goodyear Net Income (Loss)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 12<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 \u00a0 \u00a0 (619)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Goodyear Net Income (Loss)<\/b><\/p>\n

\n

\n
\n – Per Share of Common Stock<\/b>
\n <\/span>\n <\/p>\n

<\/span><\/p>\n

\n

\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0\u00a0 Basic<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 \u00a0 \u00a0 0.05<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 \u00a0 (2.65)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0\u00a0 Weighted Average Shares Outstanding <\/span>\n <\/p>\n<\/td>\n

\n

\n 235<\/span>\n <\/p>\n<\/td>\n

\n

\n 234<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0\u00a0 Diluted<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 \u00a0 \u00a0 0.05<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 \u00a0 (2.65)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0\u00a0 Weighted Average Shares Outstanding <\/span>\n <\/p>\n<\/td>\n

\n

\n 238<\/span>\n <\/p>\n<\/td>\n

\n

\n 234<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Cash Dividends Declared Per Common Share<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0—<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 0.16<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n The Goodyear Tire & Rubber Company and Subsidiaries<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Consolidated Balance Sheets (unaudited)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n (In millions, except share data)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n March 31,<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n December 31,<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n
\n 2021<\/b>
\n <\/u>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n
\n 2020<\/b>
\n <\/u>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Assets:<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Current Assets:<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0 Cash and Cash Equivalents<\/span>\n <\/p>\n<\/td>\n

\n

\n $ \u00a0 \u00a0 \u00a0 1,223<\/span>\n <\/p>\n<\/td>\n

\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a01,539<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Accounts Receivable, less Allowance – $144 ($150 in 2020)<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,159<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,691<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Inventories:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0\u00a0\u00a0\u00a0 Raw Materials<\/span>\n <\/p>\n<\/td>\n

\n

\n 583<\/span>\n <\/p>\n<\/td>\n

\n

\n 517<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Work in Process<\/span>\n <\/p>\n<\/td>\n

\n

\n 138<\/span>\n <\/p>\n<\/td>\n

\n

\n 143<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Finished Products<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 1,638<\/u>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 1,493<\/u>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n 2,359<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,153<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Prepaid Expenses and Other Current Assets<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 207<\/u>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 237<\/u>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Total Current Assets<\/b><\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 5,948<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 5,620<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Goodwill<\/span>\n <\/p>\n<\/td>\n

\n

\n 395<\/span>\n <\/p>\n<\/td>\n

\n

\n 408<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Intangible Assets<\/span>\n <\/p>\n<\/td>\n

\n

\n 134<\/span>\n <\/p>\n<\/td>\n

\n

\n 135<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Deferred Income Taxes<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,471<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,467<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other Assets <\/span>\n <\/p>\n<\/td>\n

\n

\n 938<\/span>\n <\/p>\n<\/td>\n

\n

\n 952<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Operating Lease Right-of-Use Assets<\/span>\n <\/p>\n<\/td>\n

\n

\n 826<\/span>\n <\/p>\n<\/td>\n

\n

\n 851<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Property, Plant and Equipment, less Accumulated Depreciation \u2013 $10,935 ($10,991 in 2020) <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 6,857<\/u>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 7,073<\/u>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0 Total Assets<\/b><\/span>\n <\/p>\n<\/td>\n

\n

\n
\n
\n $ \u00a0 \u00a0 16,569<\/b>
\n <\/u>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n
\n $ \u00a0 \u00a0 16,506<\/b>
\n <\/u>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Liabilities:<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Current Liabilities:<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0 Accounts Payable \u2013 Trade<\/span>\n <\/p>\n<\/td>\n

\n

\n $ \u00a0 \u00a0 \u00a03,037<\/span>\n <\/p>\n<\/td>\n

\n

\n $ \u00a0 \u00a0 \u00a0 2,945<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Compensation and Benefits <\/span>\n <\/p>\n<\/td>\n

\n

\n 548<\/span>\n <\/p>\n<\/td>\n

\n

\n 540<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Other Current Liabilities<\/span>\n <\/p>\n<\/td>\n

\n

\n 783<\/span>\n <\/p>\n<\/td>\n

\n

\n 865<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Notes Payable and Overdrafts <\/span>\n <\/p>\n<\/td>\n

\n

\n 390<\/span>\n <\/p>\n<\/td>\n

\n

\n 406<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Operating Lease Liabilities due Within One Year<\/span>\n <\/p>\n<\/td>\n

\n

\n 189<\/span>\n <\/p>\n<\/td>\n

\n

\n 198<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Long Term Debt and Finance Leases due Within One Year <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 386<\/u>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 152<\/u>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0 Total Current Liabilities<\/b><\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 5,333<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 5,106<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Operating Lease Liabilities<\/span>\n <\/p>\n<\/td>\n

\n

\n 667<\/span>\n <\/p>\n<\/td>\n

\n

\n 684<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Long Term Debt and Finance Leases <\/span>\n <\/p>\n<\/td>\n

\n

\n 5,326<\/span>\n <\/p>\n<\/td>\n

\n

\n 5,432<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Compensation and Benefits <\/span>\n <\/p>\n<\/td>\n

\n

\n 1,388<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,470<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Deferred Income Taxes<\/span>\n <\/p>\n<\/td>\n

\n

\n 86<\/span>\n <\/p>\n<\/td>\n

\n

\n 84<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other Long Term Liabilities<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 483<\/u>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 471<\/u>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0 Total Liabilities<\/b><\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 13,283<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 13,247<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Commitments and Contingent Liabilities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Shareholders’ Equity:<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Common Stock, no par value: <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Authorized, 450 million shares, Outstanding shares \u2013 235 million in 2021 and 233 million in 2020<\/span>\n <\/p>\n<\/td>\n

\n

\n 235<\/span>\n <\/p>\n<\/td>\n

\n

\n 233<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Capital Surplus<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,182<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,171<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Retained Earnings<\/span>\n <\/p>\n<\/td>\n

\n

\n 4,821<\/span>\n <\/p>\n<\/td>\n

\n

\n 4,809<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Accumulated Other Comprehensive Loss<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n (4,132)<\/u>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n (4,135)<\/u>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n \u00a0Goodyear Shareholders’ Equity<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 3,106<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 3,078<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Minority Shareholders’ Equity \u2013 Nonredeemable<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 180<\/u>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 181<\/u>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n \u00a0\u00a0 Total Shareholders’ Equity<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 3,286<\/u>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 3,259<\/u>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n \u00a0\u00a0 Total Liabilities and Shareholders’ Equity<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n
\n $ \u00a0 \u00a0 16,569<\/b>
\n <\/u>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n
\n $ \u00a0 \u00a016,506<\/b>
\n <\/u>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n The Goodyear Tire & Rubber Company and Subsidiaries<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Consolidated Statements of Cash Flows (unaudited)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n (In millions) <\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Three Months Ended<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n March 31,<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n 2021<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2020<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Cash Flows from Operating Activities:<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Net Income (Loss)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 18<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n $ \u00a0 \u00a0 \u00a0 \u00a0(617)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Adjustments to Reconcile Net Income (Loss) to Cash Flows from Operating Activities:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0\u00a0\u00a0\u00a0 Depreciation and Amortization<\/span>\n <\/p>\n<\/td>\n

\n

\n 197<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 196<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Amortization and Write-Off of Debt Issuance Costs<\/span>\n <\/p>\n<\/td>\n

\n

\n 3<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Goodwill Impairment<\/span>\n <\/p>\n<\/td>\n

\n

\n —<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 182<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Provision for Deferred Income Taxes<\/span>\n <\/p>\n<\/td>\n

\n

\n (18)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 235<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Net Pension Curtailments and Settlements<\/span>\n <\/p>\n<\/td>\n

\n

\n —<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Net Rationalization Charges<\/span>\n <\/p>\n<\/td>\n

\n

\n 50<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 9<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Rationalization Payments <\/span>\n <\/p>\n<\/td>\n

\n

\n (83)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (73)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Net (Gains) Losses on Asset Sales <\/span>\n <\/p>\n<\/td>\n

\n

\n —<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (1)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Operating Lease Expense<\/span>\n <\/p>\n<\/td>\n

\n

\n 70<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 69<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Operating Lease Payments<\/span>\n <\/p>\n<\/td>\n

\n

\n (67)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (66)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Pension Contributions and Direct Payments<\/span>\n <\/p>\n<\/td>\n

\n

\n (9)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (19)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Changes in Operating Assets and Liabilities, Net of Asset Acquisitions and Dispositions:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0\u00a0\u00a0\u00a0 Accounts Receivable<\/span>\n <\/p>\n<\/td>\n

\n

\n (526)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (206)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Inventories<\/span>\n <\/p>\n<\/td>\n

\n

\n (258)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (170)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Accounts Payable \u2013 Trade<\/span>\n <\/p>\n<\/td>\n

\n

\n 221<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (106)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Compensation and Benefits<\/span>\n <\/p>\n<\/td>\n

\n

\n 19<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (57)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Other Current Liabilities<\/span>\n <\/p>\n<\/td>\n

\n

\n (4)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (30)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Other Assets and Liabilities<\/span>\n <\/p>\n<\/td>\n

\n

\n 105<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 89<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Total Cash Flows from Operating Activities<\/b><\/span>\n <\/p>\n<\/td>\n

\n

\n
\n (282)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n (561)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Cash Flows from Investing Activities:<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0 Capital Expenditures<\/span>\n <\/p>\n<\/td>\n

\n

\n (185)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (211)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Short Term Securities Acquired<\/span>\n <\/p>\n<\/td>\n

\n

\n (29)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (6)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Short Term Securities Redeemed<\/span>\n <\/p>\n<\/td>\n

\n

\n 41<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Notes Receivable<\/span>\n <\/p>\n<\/td>\n

\n

\n (10)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (35)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Other Transactions<\/span>\n <\/p>\n<\/td>\n

\n

\n 3<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (9)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Total Cash Flows from Investing Activities<\/b><\/span>\n <\/p>\n<\/td>\n

\n

\n
\n (180)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n (257)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Cash Flows from Financing Activities:<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0 Short Term Debt and Overdrafts Incurred<\/span>\n <\/p>\n<\/td>\n

\n

\n 280<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 629<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Short Term Debt and Overdrafts Paid<\/span>\n <\/p>\n<\/td>\n

\n

\n (285)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (239)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Long Term Debt Incurred<\/span>\n <\/p>\n<\/td>\n

\n

\n 694<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,188<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Long Term Debt Paid<\/span>\n <\/p>\n<\/td>\n

\n

\n (514)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (1,600)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Common Stock Issued <\/span>\n <\/p>\n<\/td>\n

\n

\n 9<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Common Stock Dividends Paid <\/span>\n <\/p>\n<\/td>\n

\n

\n —<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (37)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Debt Related Costs and Other Transactions<\/span>\n <\/p>\n<\/td>\n

\n

\n (40)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (2)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Total Cash Flows from Financing Activities<\/b><\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 144<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 939<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash<\/span>\n <\/p>\n<\/td>\n

\n

\n (34)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (59)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Net Change in Cash, Cash Equivalents and Restricted Cash<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n (352)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 62<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Cash, Cash Equivalents and Restricted Cash at Beginning of the Period<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,624<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 974<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Cash, Cash Equivalents and Restricted Cash at End of the Period <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 \u00a0 1,272<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n $ \u00a0 \u00a0 \u00a0 1,036<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n Non-GAAP Financial Measures (unaudited)<\/b>\n <\/p>\n

This earnings release presents Total Segment Operating Income (Loss) and Margin, Adjusted Net Income (Loss) and Adjusted Diluted Earnings (Loss) Per Share (EPS), which are important financial measures for the company but are not financial measures defined by U.S. GAAP, and should not be construed as alternatives to corresponding financial measures presented in accordance with U.S. GAAP. <\/p>\n

Total Segment Operating Income (Loss) is the sum of the individual strategic business units’ (SBUs’) Segment Operating Income (Loss) as determined in accordance with U.S. GAAP. Total Segment Operating Margin is Total Segment Operating Income (Loss) divided by Net Sales as determined in accordance with U.S. GAAP. Management believes that Total Segment Operating Income (Loss) and Margin are useful because they represent the aggregate value of income created by the company’s SBUs and exclude items not directly related to the SBUs for performance evaluation purposes. The most directly comparable U.S. GAAP financial measure to Total Segment Operating Income (Loss) is Goodyear Net Income (Loss) and to Total Segment Operating Margin is Return on Sales (which is calculated by dividing Goodyear Net Income (Loss) by Net Sales).<\/p>\n

Adjusted Net Income (Loss) is Goodyear Net Income (Loss) as determined in accordance with U.S. GAAP adjusted for certain significant items. Adjusted Diluted Earnings (Loss) Per Share is the company’s Adjusted Net Income (Loss) divided by Weighted Average Shares Outstanding-Diluted as determined in accordance with U.S. GAAP. Management believes that Adjusted Net Income (Loss) and Adjusted Diluted Earnings (Loss) Per Share are useful because they represent how management reviews the operating results of the company excluding the impacts of non-cash impairment charges, rationalizations, asset write-offs, accelerated depreciation, asset sales and certain other significant items. <\/p>\n

It should be noted that other companies may calculate similarly titled non-GAAP financial measures differently and, as a result, the measures presented herein may not be comparable to such similarly titled measures reported by other companies.<\/p>\n

See the tables below for reconciliations of historical Total Segment Operating Income (Loss) and Margin, Adjusted Net Income (Loss) and Adjusted Diluted Earnings (Loss) Per Share to the most directly comparable U.S. GAAP financial measures. <\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n Segment Operating Income (Loss) and Margin Reconciliation Table <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0 Three Months Ended <\/b><\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n \u00a0\u00a0\u00a0\u00a0 March 31,<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n (In millions)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2021<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2020<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2019<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Total Segment Operating Income (Loss) <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0226<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 \u00a0(47)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 190<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Goodwill Impairment<\/span>\n <\/p>\n<\/td>\n

\n

\n —<\/span>\n <\/p>\n<\/td>\n

\n

\n (182)<\/span>\n <\/p>\n<\/td>\n

\n

\n —<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Rationalizations<\/span>\n <\/p>\n<\/td>\n

\n

\n (50)<\/span>\n <\/p>\n<\/td>\n

\n

\n (9)<\/span>\n <\/p>\n<\/td>\n

\n

\n (103)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Interest Expense<\/span>\n <\/p>\n<\/td>\n

\n

\n (79)<\/span>\n <\/p>\n<\/td>\n

\n

\n (73)<\/span>\n <\/p>\n<\/td>\n

\n

\n (85)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Other Income (Expense)<\/span>\n <\/p>\n<\/td>\n

\n

\n (34)<\/span>\n <\/p>\n<\/td>\n

\n

\n (27)<\/span>\n <\/p>\n<\/td>\n

\n

\n (22)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Asset Write-offs and Accelerated Depreciation<\/span>\n <\/p>\n<\/td>\n

\n

\n —<\/span>\n <\/p>\n<\/td>\n

\n

\n (4)<\/span>\n <\/p>\n<\/td>\n

\n

\n —<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Corporate Incentive Compensation Plans<\/span>\n <\/p>\n<\/td>\n

\n

\n (9)<\/span>\n <\/p>\n<\/td>\n

\n

\n (3)<\/span>\n <\/p>\n<\/td>\n

\n

\n (1)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Retained Expenses of Divested Operations<\/span>\n <\/p>\n<\/td>\n

\n

\n (3)<\/span>\n <\/p>\n<\/td>\n

\n

\n (2)<\/span>\n <\/p>\n<\/td>\n

\n

\n (3)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Other<\/span>\n <\/p>\n<\/td>\n

\n

\n (18)<\/span>\n <\/p>\n<\/td>\n

\n

\n (21)<\/span>\n <\/p>\n<\/td>\n

\n

\n (14)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Income (Loss) before Income Taxes <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 \u00a0 33<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 (368)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 \u00a0(38)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n United States and Foreign Taxes <\/span>\n <\/p>\n<\/td>\n

\n

\n 15<\/span>\n <\/p>\n<\/td>\n

\n

\n 249<\/span>\n <\/p>\n<\/td>\n

\n

\n 6<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Less: Minority Shareholders’ Net Income <\/span>\n <\/p>\n<\/td>\n

\n

\n 6<\/span>\n <\/p>\n<\/td>\n

\n

\n 2<\/span>\n <\/p>\n<\/td>\n

\n

\n 17<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Goodyear Net Income (Loss)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 \u00a0 12<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 (619)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 (61)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Sales<\/span>\n <\/p>\n<\/td>\n

\n

\n $3,511<\/span>\n <\/p>\n<\/td>\n

\n

\n $3,056<\/span>\n <\/p>\n<\/td>\n

\n

\n $3,598<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Return on Sales<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n (20.3)%<\/span>\n <\/p>\n<\/td>\n

\n

\n (1.7)%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total Segment Operating Margin<\/span>\n <\/p>\n<\/td>\n

\n

\n 6.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n (1.5)%<\/span>\n <\/p>\n<\/td>\n

\n

\n 5.3%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n Adjusted Net Income (Loss) and Adjusted Diluted Earnings (Loss) per Share <\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Reconciliation Tables<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n<\/tr>\n
\n

\n
\n First Quarter 2021<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Income
Before
Income
Taxes<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Taxes<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Minority
Interest<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Goodyear
Net Income<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Weighted
Average Shares
Outstanding-
Diluted<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Diluted <\/b>
\n <\/span>\n <\/p>\n

\n
\n EPS<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n (In millions, except EPS)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n As Reported<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 \u00a033<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 \u00a015<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 \u00a0 6<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 \u00a0 12<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 238<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a00.05<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Significant Items:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0\u00a0\u00a0 Rationalizations <\/span>\n <\/p>\n<\/td>\n

\n

\n 50<\/span>\n <\/p>\n<\/td>\n

\n

\n 5<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 45<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.19<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0 Inventory Valuation & Other Adjustments<\/span>\n <\/p>\n<\/td>\n

\n

\n 20<\/span>\n <\/p>\n<\/td>\n

\n

\n 1<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 19<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.08<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0 Americas Winter Storm Impact<\/span>\n <\/p>\n<\/td>\n

\n

\n 23<\/span>\n <\/p>\n<\/td>\n

\n

\n 6<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 17<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.07<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0 Acquisition Related Transaction Costs<\/span>\n <\/p>\n<\/td>\n

\n

\n 8<\/span>\n <\/p>\n<\/td>\n

\n

\n 2<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 6<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.03<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0 Discrete Tax Items<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (3)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.01<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n 101<\/span>\n <\/p>\n<\/td>\n

\n

\n 11<\/span>\n <\/p>\n<\/td>\n

\n

\n —<\/span>\n <\/p>\n<\/td>\n

\n

\n 90<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.38<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n As Adjusted<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 134<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 \u00a026<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 \u00a06<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 \u00a0102<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 238<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a00.43<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n<\/tr>\n
\n

\n
\n First Quarter 2020<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Income
(Loss)
Before
Income
Taxes<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Taxes<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Minority
Interest<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Goodyear
Net Income
(Loss)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Weighted
Average Shares
Outstanding-
Diluted<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Diluted <\/b>
\n <\/span>\n <\/p>\n

\n
\n EPS<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n (In millions, except EPS)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n As Reported<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 (368)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 249<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0 \u00a0 2<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 (619)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 234<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0(2.65)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Significant Items:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0\u00a0 Discrete Tax Items<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (290)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 290<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1.24<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0 Goodwill Impairment<\/span>\n <\/p>\n<\/td>\n

\n

\n 182<\/span>\n <\/p>\n<\/td>\n

\n

\n 4<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 178<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.76<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0 Rationalizations, Asset Write-offs, and\u00a0
\u00a0\u00a0\u00a0\u00a0\u00a0Accelerated Depreciation Charges<\/span>\n <\/p>\n<\/td>\n

\n

\n 13<\/span>\n <\/p>\n<\/td>\n

\n

\n 2<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 11<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.05<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n 195<\/span>\n <\/p>\n<\/td>\n

\n

\n (284)<\/span>\n <\/p>\n<\/td>\n

\n

\n —<\/span>\n <\/p>\n<\/td>\n

\n

\n 479<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2.05<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n As Adjusted<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 (173)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $ \u00a0 \u00a0(35)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

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\n \"Cision\" View original content to download multimedia:http:\/\/www.prnewswire.com\/news-releases\/goodyear-reports-first-quarter-2021-results-301280852.html<\/a><\/p>\n

SOURCE The Goodyear Tire & Rubber Company<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

First quarter Goodyear net income of $12 million; adjusted net income of $102 million First quarter segment operating income of $226 million, strongest first quarter since 2018 Global consumer replacement volume significantly exceeded industry, driven by large-rim diameter segment — Record first quarter consumer replacement volume in Asia Pacific Americas, EMEA consumer OE volumes outpaced market First quarter revenue per tire up 3%, excluding foreign currency PR Newswire AKRON, Ohio, April 30, 2021 \/PRNewswire\/ —\u00a0The Goodyear Tire & Rubber Company\u00a0(NASDAQ: GT) today reported results for the first quarter of 2021. “We delivered impressive segment operating income, which was significantly above first quarter 2020 results and also nearly 20 percent higher than first quarter 2019 despite sales volumes not yet having … <\/p>\n

Continue reading “Goodyear Reports First Quarter 2021 Results”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-485108","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGoodyear Reports First Quarter 2021 Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/goodyear-reports-first-quarter-2021-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Goodyear Reports First Quarter 2021 Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"First quarter Goodyear net income of $12 million; adjusted net income of $102 million First quarter segment operating income of $226 million, strongest first quarter since 2018 Global consumer replacement volume significantly exceeded industry, driven by large-rim diameter segment — Record first quarter consumer replacement volume in Asia Pacific Americas, EMEA consumer OE volumes outpaced market First quarter revenue per tire up 3%, excluding foreign currency PR Newswire AKRON, Ohio, April 30, 2021 \/PRNewswire\/ —\u00a0The Goodyear Tire & Rubber Company\u00a0(NASDAQ: GT) today reported results for the first quarter of 2021. “We delivered impressive segment operating income, which was significantly above first quarter 2020 results and also nearly 20 percent higher than first quarter 2019 despite sales volumes not yet having … Continue reading "Goodyear Reports First Quarter 2021 Results"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/goodyear-reports-first-quarter-2021-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-30T11:48:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/95226\/goodyear_tire_and_rubber_company_logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"13 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/goodyear-reports-first-quarter-2021-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/goodyear-reports-first-quarter-2021-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Goodyear Reports First Quarter 2021 Results\",\"datePublished\":\"2021-04-30T11:48:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/goodyear-reports-first-quarter-2021-results\\\/\"},\"wordCount\":2513,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/goodyear-reports-first-quarter-2021-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/95226\\\/goodyear_tire_and_rubber_company_logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/goodyear-reports-first-quarter-2021-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/goodyear-reports-first-quarter-2021-results\\\/\",\"name\":\"Goodyear Reports First Quarter 2021 Results - 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