ac8f19c671be381e0867b43d2cf1982eda5efb5e18e745c30a1a45773c05f26b

Adjustments for Non-Cash Items (USD, millions)

Stock-Based Compensation (USD, millions)

Changes in Working Capital (USD, millions)

Capital Expenditures (CapEx) (USD, millions)

Proceeds from / Repayments of Debt (USD, millions)

Share Repurchases (USD, millions)

Dividend Payments (USD, millions)

Net Change in Cash (USD, millions)

10f3d0aa129d86c1bbdc251ed10b85229a5435e5fd9591a5a18f84543a18a00d

1c5c1a68b1aab8b4d1963667f897dfb922f5902567233b277d38da7723670f36

The significant drop in cash and cash equivalents in Q2 2024 was primarily driven by substantial cash outflows for operating activities and capital expenditures. In particular, **net cash used for operating activities** was **$518 million**, which included a **$788 million** cash drain for working capital and **$105 million** in rationalization payments. Additionally, **capital expenditures** amounted to **$634 million**, intensifying the cash outflow. These were partially offset by financing activities such as **net borrowings of $919 million**, proceeds from asset dispositions worth **$124 million**, and **insurance recoveries of $37 million**, yet the net effect was a significant reduction in cash, with a decline from **$902 million** at the end of 2023 to **$789 million** in Q2 2024.  **[0000950170-24-089017_gt-20240630.htm:44]** **[0000950170-24-089017_gt-20240630.htm:60]** 

Why did Cash and Cash Equivalents drop so significantly in Q2 2024?

The sharp decline in **Total Assets** in Q4 2024 was driven by several key factors. There was a **decrease in cash and cash equivalents** (down by **$92 million** due to significant capital expenditures partially offset by operating activities), a **reduction in accounts receivable** (down by **$249 million**), and a **decline in inventories** (down by **$101 million**). In addition, **intangible assets** dropped by **$164 million** due to amortization and impairment charges, and there was a notable **decrease in Property, Plant, and Equipment** (net of accumulated depreciation declined by **$410 million**). Lastly, the **classification of certain non-core assets as held for sale** increased by **$466 million**, reflecting a strategic move as part of the Goodyear Forward transformation plan.  **[0001193125-25-026120_d897621dex991.htm:5]** **[0000950170-25-020763_gt-20241231.htm:99]** **[0000950170-25-020763_gt-20241231.htm:62]** **[20250213CL19419:2]** 

What factors led to the sharp decline in Total Assets in Q4 2024?

In Q2 2024, the spike in short-term debt was driven by the inclusion of **$800 million of 9.5% Senior Notes due 2025**, which were reclassified from long-term to current liabilities as they were called for redemption (set for July 23, 2024, with a redemption date of August 7, 2024).  **[0000950170-24-089017_gt-20240630.htm:21]** **[0000950170-24-089017_gt-20240630.htm:4]** 

What caused the spike in short-term debt in Q2 2024?

Goodyear’s Long Term Debt and Finance Leases fell in Q4 2024 primarily because the company took significant debt reduction measures. It redeemed **$500 million** of its 9.5% Notes due 2025 and repaid **$366 million** under its revolving credit facility using cash proceeds from its OTR tire business sale, which directly lowered its outstanding long-term debt.  **[0001193125-25-022755_d837267dex991.htm:9]**  Additionally, a portion of its long-term debt was reclassified to “Long Term Debt and Finance Leases due Within One Year” because those obligations were nearing maturity, further reducing the reported balance.  **[0000950170-25-020763_gt-20241231.htm:137]** **[0000950170-25-020763_gt-20241231.htm:138]**  These steps were part of an overall strategy to deleverage its balance sheet, contributing to the fall in the Long Term Debt and Finance Leases balance to **6,392 million USD** in Q4 2024.  **[0000950170-25-020763_gt-20241231.htm:99]** **[20250213CL19419:5]** 

Why did Long Term Debt and Finance Leases fall in Q4 2024?

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45f976cae485d50ef85c9dacb77823be7cba81fba24baa932bd527ad54b4466c

Net Sales (USD, millions)

Cost of Goods Sold (USD, millions)

Selling, Administrative and General Expense (USD, millions)

Goodwill and Intangible Asset Impairment (USD, millions)

Rationalizations (USD, millions)

Interest Expense (USD, millions)

Other (Income) Expense (USD, millions)

Income (Loss) before Income Taxes (USD, millions)

United States and Foreign Tax Expense (USD, millions)

Net Income (Loss) (USD, millions)

Less: Minority Shareholders’ Net Income (Loss) (USD, millions)

Goodyear Net Income (Loss) (USD, millions)

Goodyear Net Income (Loss) - Basic Per Share of Common Stock (USD)

Weighted Average Shares Outstanding - Basic (Millions)

Goodyear Net Income (Loss) - Diluted Per Share of Common Stock (USD)

Weighted Average Shares Outstanding - Diluted (Millions)

d0e6b0ae87c9e1b110d447635cfa89cba326cc275daeb357ccc80f832af3aa25

Cash and Cash Equivalents (USD, millions)

Accounts Receivable (USD, millions)

Inventories (USD, millions)

Assets Held for Sale (USD, millions)

Prepaid Expenses and Other Current Assets (USD, millions)

Total Current Assets (USD, millions)

Goodwill (USD, millions)

Intangible Assets (USD, millions)

Deferred Income Taxes (USD, millions)

Other Assets (USD, millions)

Operating Lease Right-of-Use Assets (USD, millions)

Property, Plant and Equipment (USD, millions)

Total Assets (USD, millions)

Accounts Payable — Trade (USD, millions)

Compensation and Benefits (USD, millions)

Other Current Liabilities (USD, millions)

Notes Payable and Overdrafts (USD, millions)

Operating Lease Liabilities due Within One Year (USD, millions)

Long Term Debt and Finance Leases due Within One Year (USD, millions)

Total Current Liabilities (USD, millions)

Operating Lease Liabilities (USD, millions)

Long Term Debt and Finance Leases (USD, millions)

Other Long Term Liabilities (USD, millions)

Total Liabilities (USD, millions)

Capital Surplus (USD, millions)

Retained Earnings (USD, millions)

Accumulated Other Comprehensive Loss (USD, millions)

Goodyear Shareholders’ Equity (USD, millions)

Minority Shareholders’ Equity — Nonredeemable (USD, millions)

Total Shareholders’ Equity (USD, millions)

Total Liabilities and Shareholders’ Equity (USD, millions)

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fac5ec37c3707b038e6c69e8057d444763eb4908609e32c9f948ab4d26e86afd

Americas

Europe, Middle East, and Africa

Asia Pacific

- United States

- Other International

Latin America

North America

Total Revenue

85672744c35c224ab51ad088f56b009713c4ccf15fdfba8a068688c9d94f748e

Goodyear Tire & Rubber Co (GT)

Financials