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GT Stock Price Correlated With Goodyear Tire & Rubber Co Financials
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Income Statement
Cash Flow
Balance Sheet
GT Income Statement
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Revenue, Net:
Cost of Goods & Services Sold:
Gross Profit:
Selling, General & Admin Expense:
Research & Development Expense:
Total Operating Expenses:
Operating Income:
Income Taxes:
Net Income:
GT Cash Flow
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Operating Activities Net Income:
Depreciation, Depletion & Amortization:
Change in Accounts Receiveable:
Net Cash from Operations:
Repurchases/Buybacks Common Stock:
Issuance of Long-term Debt:
Cash Dividends Paid:
Net Cash from Financing Activities:
Property, Plant & Equipment Purchases:
Purchases of Businesses, Net of Cash:
Net Cash from Investing Activities:
Net Change in Cash & Equivalents:
GT Balance Sheet
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Cash and Cash Equivalents:
Short-Term Investments:
Accounts Receivable, Net:
Inventories:
Total Current Assets:
Property, Plant & Equipment, Net:
Total Assets:
Accounts Payable:
Current Portion of Long-Term Debt:
Total Short-Term Liabilities:
Long Term Debt, Non-Current Portion:
Total Long-Term Liabilities:
Total Liabilities:
COMPANY PROFILE
NOTE 1. ACCOUNTING POLICIES
Basis of Presentation
The accompanying unaudited consolidated financial statements have been prepared by The Goodyear
Tire & Rubber Company (the “Company,” “Goodyear,” “we,” “us” or “our”) in accordance with
Securities and Exchange Commission rules and regulations and in the opinion of management contain
all adjustments (including normal recurring adjustments) necessary to present fairly the financial
position, results of operations and cash flows for the periods presented. The preparation of
financial statements in conformity with accounting principles generally accepted in the United
States of America requires management to make estimates and assumptions that affect the amounts
reported in the financial statements and accompanying notes. These interim consolidated financial
statements should be read in conjunction with the consolidated financial statements and related
notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2010 (the
“2010 Form 10-K”).
We are a party to shareholder agreements concerning certain of our less-than-wholly-owned
consolidated subsidiaries. Under the terms of certain of these agreements, the minority
shareholders have the right to require us to purchase their ownership interests in the respective
subsidiaries if there is a change in control of Goodyear or a bankruptcy of Goodyear. Accordingly,
we have reported the minority equity in those subsidiaries outside of Shareholders’ Equity.
Operating results for the three and six months ended June 30, 2011 are not necessarily
indicative of the results expected in subsequent quarters or for the year ending December 31, 2011.
Recently Issued Accounting Standards
In May 2011 the Financial Accounting Standards Board (“FASB”) issued an accounting standards update
with new guidance on fair value measurement and disclosure requirements. The standards update does
not extend the use of fair value accounting beyond that currently required under U.S. GAAP, but
instead provides guidance on the application of fair value accounting where it is already required
or permitted by other standards. The standards update also requires additional disclosures related
to transfers of financial instruments within the fair value hierarchy and quantitative and
qualitative disclosures related to significant unobservable inputs. The standards update is
effective for fiscal years beginning after December 15, 2011. We are currently assessing the impact
of adopting this standard on our consolidated financial statements.
In June 2011 the FASB issued an accounting standards update with new guidance on the
presentation of other comprehensive income. The standards update eliminates the option of
presenting other comprehensive income and its components in the statement of shareholders’ equity.
The standards update now requires an entity to either present components of net income and other
comprehensive income in one continuous statement or in two separate but consecutive statements.
The standard will require us to change the presentation of other comprehensive income in our Form
10-K effective for fiscal years beginning after December 15, 2011.
Reclassifications
Certain items previously reported in specific financial statement captions have been reclassified
to conform to the current presentation.
Basis of Presentation
The accompanying unaudited consolidated financial statements have been prepared by The Goodyear
Tire & Rubber Company (the “Company,” “Goodyear,” “we,” “us” or “our”) in accordance with
Securities and Exchange Commission rules and regulations and in the opinion of management contain
all adjustments (including normal recurring adjustments) necessary to present fairly the financial
position, results of operations and cash flows for the periods presented. The preparation of
financial statements in conformity with accounting principles generally accepted in the United
States of America requires management to make estimates and assumptions that affect the amounts
reported in the financial statements and accompanying notes. These interim consolidated financial
statements should be read in conjunction with the consolidated financial statements and related
notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2010 (the
“2010 Form 10-K”).
We are a party to shareholder agreements concerning certain of our less-than-wholly-owned
consolidated subsidiaries. Under the terms of certain of these agreements, the minority
shareholders have the right to require us to purchase their ownership interests in the respective
subsidiaries if there is a change in control of Goodyear or a bankruptcy of Goodyear. Accordingly,
we have reported the minority equity in those subsidiaries outside of Shareholders’ Equity.
Operating results for the three and six months ended June 30, 2011 are not necessarily
indicative of the results expected in subsequent quarters or for the year ending December 31, 2011.
Recently Issued Accounting Standards
In May 2011 the Financial Accounting Standards Board (“FASB”) issued an accounting standards update
with new guidance on fair value measurement and disclosure requirements. The standards update does
not extend the use of fair value accounting beyond that currently required under U.S. GAAP, but
instead provides guidance on the application of fair value accounting where it is already required
or permitted by other standards. The standards update also requires additional disclosures related
to transfers of financial instruments within the fair value hierarchy and quantitative and
qualitative disclosures related to significant unobservable inputs. The standards update is
effective for fiscal years beginning after December 15, 2011. We are currently assessing the impact
of adopting this standard on our consolidated financial statements.
In June 2011 the FASB issued an accounting standards update with new guidance on the
presentation of other comprehensive income. The standards update eliminates the option of
presenting other comprehensive income and its components in the statement of shareholders’ equity.
The standards update now requires an entity to either present components of net income and other
comprehensive income in one continuous statement or in two separate but consecutive statements.
The standard will require us to change the presentation of other comprehensive income in our Form
10-K effective for fiscal years beginning after December 15, 2011.
Reclassifications
Certain items previously reported in specific financial statement captions have been reclassified
to conform to the current presentation.
Free historical financial statements for Goodyear Tire & Rubber Co.. See how revenue, income, cash flow, and balance sheet financials have changed over 55 quarters since 2011. Compare with GT stock chart to see long term trends.
Data imported from Goodyear Tire & Rubber Co. SEC filings. Check original filings before making any investment decision.